The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1907-12-03
PRESIDENT IN HIS
MESSAGE TALKS
OF REMEDIES
Urges Need Of Special Emer-
gency Currency
APPROVES OF AN INCOME TAX
Thinks Tariff Ought to be Revised
But Would Not Attempt Il This
Year.

The president in his message to con.
gress says:
No nation has greater resources than
ours, and l think 1t can be truthfully
said that the citizens of no nation pos
sess greater energy and industrial abil
Hity. In no nation are the fundamental
business conditions sounder than in
ours at this very moment, and 1t Is
foolish when such is the case for peo-
pie to hoard money instead of keeping
It In sound banks, for II is such hoard.
ting that is the immediate occasion of
money stringency. Moreover, as a
rule, the business of our people is con-
Quoted with honesty and probity, and
this applies alike to farms and fac.
tories, to railroads and banks, to all
our legitimate commercial enterprises.
In any large body of men. however,
there are certain to be some who are
dishonest, and IL the conditions are
such that these men prosper or commit
their misdeeds with impunity their
example is very evil thing for the
community. Where these men are
business men of great sagacity and of
temperament both INSCRIPTIONS and
reckless, and where the conditions are
such that they act without supervision
or control and at first without effective
check from public opinion, they delude
many innocent people into making in.
vestments or embarklng in kinds of
business that are really unsound. When
the misdeeds of these successfully dis
honest men are discovered, suffering
comes not only upon them, but upon
the innocent whom they have misled
1t is painful awakening, whenever it
occurs, and naturally when it does oc-
cur those who suffer are apt to forget
that the longer it was deferred the
more painful it would be. In the effort
to punish the guilty it is both wise and
proper to endeavor so far as possible
to minimize the distress of those who
have been misled by the guilty. Yet it
is not possible to refrain because of
such distress from striving to put an
end to the misdeeds that are the ulti-
mate causes of the suffering and, as a
means to. this end, where possible to
punish those responsible for them.
There may be honest differences of
opinion as to many governmental poll
cies, but surely there can be no such
differences as to the need of unfinch-
ing perseverance in the war against
successful dishonesty.
INTERSTATE COMMERCE.
No small part of the trouble that we
have comes from carrying to an ex-
IRENE the national virtue of self reli-
ance, of independence in initiative
and action. 1t is wise to conserve this
virtue and to provide for its fullest
exercise compatible with seeing that
liberty does not become liberty to
wrong others. Unfortunately this is
the kind Of liberty that the lack Of all
effective regulation inevitably breeds.
The founders of the constitution pro-
vided that the national government
should have complete and sole cOntroi
OF interstate commerce. There was
then practically no interstate business
save such as was conducted by water,
and this the national government at
once proceeded to regulate in thorough
going and effective fashion. Conditions |
have now so wholly changed that the
Interstate commerce by water is insig- |
nificant compared with the amount |
that goes by land, and almost all big |
business concerns are now engaged in |
Interstate commerce. AS result 1t can |
be but partially and imperfectly con-
trolled or regulated by the action Of |
any one of the several states, such ac-
lion inevitably tending to be either |
too drastic or else too lax and in either |
case Ineffective for purposes of justice.
Only the national government can in
.horoughgoing fashion exercise the
needed control. This does not mean
hat there should be any extension of
federal authority, for such authority
already exists under the constitution
n amplest and most far reaching form,
out 1t does mean that there should be
IN extension Of federal activity. This
8 not advocating Capitalization. 1t is
merely looking facts in the face and
that Capitalization in business
las already come and cannot be avoid.
ID or undone and that the public at
arge can only protect itself from GER
ain evil effects, of this business GEN.