Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1907-12-04

5s fs nossi6Ie better wages and shorter
borrs for their employees. therefore,
While there must be just and reasoha-
b,c regulation of rates, we shouiu pe
tho first TO protest against any arpltra-
nv and unthinking movement 10 eus
them down without the fullest anu
most careful consideration of all inter
ests concerned and of the actual neeus
of the situation. Only special pous
of men acting for the national govern,
ment under authority conferred upon II
by the congress is competent 10 pass
Judgment Oh such matter.
Those who fear from any reason the
extension of federal activity Will 40
we'll to study the history not only Oh
the national banking act, but or tue
pure food law, and notably the meat
inspection law recently enacted. The
pure food law was opposed so violent
ly that its passage was delayed for
decade, yet 1t has worked unmixed ana
| immediate good. The meat inspection
law was even more violently assailed,
and the same men who now denounce
| the attitude of the national govern
ment in seeking to oversee and control
the workings of interstate common car
riers and business concerns then as
serted that we were "discrediting and
running n great American industry"
Two years have not elapsed, and al
ready it has become evident that the
great benefit the law confers upon the
public is accompanied by an equal BEN
eft to the reputable packing establish
ments. The latter are better off under
the law than they were without it
The benefit to interstate common car
riers and business concerns from the
legislation advocate would be equal
| ly marked.
Pure Food Law.
incidentally in the passage of the
pure food law the action of the vari-
GUS state food and dairy commission
ers showed in striking fashion how
much good for the whole people results
from the hearty cooperation of the
federal and state officials in securing
u given reform. 1t is primarily to the
| action of these state commissioners
that we owe the enactment of this
law, for they aroused the people, first
to demand the enactment and enforce
ment of state laws on the subject and
then the enactment of the federal law,
| without which the state laws were
largely ineffective. There must be the
closest cooperation between the ma.
tional and state governments in ad-
ministering these laws
Currency Legislation Needed.
| again urge on the congress the
need of Immediate attention to this
| matter. We need n greater elasticity
In our currency, provided Of course
that we recognize the even greater
need of n safe and secure currency.
| Provision should be made for an
emergency currency. The emergency
issue should of course be made with
an effective guarantee and upon condi-
tions carefully prescribed by the gov
eminent. Such emergency Issue must
be based on adequate securities APP
proved by the government and must be
issued under heavy tax. This would
permit currency being issued when the
demand for it was urgent, while secur-
ing its retirement rs the demand fell
off. 1t Is worth investigating to de-
termine whether officers and directors
of national banks should ever be al
lowed to loan to themselves. Trust
companies should be subject to the
same supervision as banks. Legisla-
ton to this effect should be enacted for
the District of Columbia and the ter.
ritories
Yet we must also remember that
even the wisest legislation on the sub
ject can only accomplish certain
amount. No legislation can by any
possibility guarantee the business com.
munity against the results of specula.
tive folly any more than it can guaran.
tee an individual against the results OF
his extravaganza. When an individual
mortgages his house to buy an auto.
mobile lie invites disaster, and when
wealthy men or men who pose rs such
or are unscrupulously orfoolishly eager
to become such indulge in reckless
speculation, especially If 1t is accom-.
panied by dishonesty, they jeopardize
not only their own future but the flu.
tnre of all their innocent fellow citi.
Zens. for they expose the whole bust
ness community to panic and distress.
Can't Revise Tariff Now.
This country is definitely committed
to the protective system, and any eff
fort TO uproot it could not but cause
widespread industrial disaster. In
other words. the principle of the pres
ent tariff law could not with wisdom
be changed. But in Il country of such
phenomenal growth rs ours it is prob
ably well that every dozen years or so
the tariff laws should be carefully scru-
tiniZed SO rs to see that no excessive
or improper benefits are conferred
thereby, that proper revenue is provid.
ed and that our foreign trade is en-
couraged. There must always be MS a
minimum tariff which will not only
| allow for the collection of an ample
| revenue, but which will at least make
| good the difference in cost of produc-
ton here and abroad-that is, the DIFF
| ference in the labor cost here and
abroad for the well being of tile wage
worker must ever be cardinal point
of American policy. The question
should be approached purely from a
business standpoint, both the time and
the manner of the change being such
MS to arouse the minimum Of agitation
and disturbance In the business world
and to give the least play for selfish
and fractional motives The sole con-
sideration should be to see that the
sum total Of changes represents the
public good This means that the sub
ject cannot with wisdom be dealt with
In the year preceding presidential
election, because rs Il matter of fact
| experience has conclusively shown that
at such time it is impossible to get
men to treat 1t from the standpoint of
the public good. In my Judgment the
wise time to deal with the matter ia