The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-01-01

Twenty-Five miles a day. This delayed
freight is owned by some one, and some
one7s money is thus tied up
Cooperation Impossible.
Corporation between the commercial
hanks of the country, the Secretary
saws to be impossible, because the Sher-
man antitrust law forbids It, ln'
stead he says, 1--WE have approx
matelv 10000 institutions engaged IN
commercial banking, each law unto
itself as long as 1T does not vlolate
statutory requirements with respect 70
investments and reserve. As natural
and unavoidable result no combined
effort is made in midsummer TO provide
ample reserve for the strain lneVltanle
on the return of business activity IN
tident to the fall and winter months.
Under our present system the only
possible contraction during the summer,
and the only possible provision Tor the
fall is effected by the Secretary or the
Treasury withdrawing Government
deposits from the banks when these
funds are not needed, and restoring
them to the channels of trade as the
needs of business require. BY keeping
n taut rein wild Speculation may be
prevented, and in most instances re-
sultant crash averted.
Unfortunately, the banks are not
he only nor the principal sufferers
from contagious financial diseases.
Generally they are able 10 protect
themselves, for if their loans have been
well made they have only 10 refuse ad.
ditiopal accommodations and await re-
Wlts II crash should come. from
whatever cause, factories will close
their doors, the weekly payroll VIII
cease. and the people least responsible
for conditions will be the ones on whom
this lesson of self-reliance will fall with
saddest effect.
In conclusion Secretary Shaw says:
Defends Present Policy.
"It is urged against the present
policy that it places too much power
and authority In one man. II does not
place power or authority with one man.
The responsibility rests with an ad.
ministration. a financial panic ruins
any administration. For years the name
of very worthy President, a man
who, with high ideals and lofty
patriotism, was we'll nigh a renroach
because his administration was ac.
companied with widespread financial
disaster If an administration is 10 be
held responsible for the financial health
OF the people; the medicine chest and
the surgeon s kit should not he sunk in
the sea
"All authority is subject to abuse.
No voice was raised against The rate
bill because it permits one man, through
an interstate commerce commission,
removable at pleasure, and aPpointive
in vacation at .SVill, to fix arbitrarily.
If he peases, subject to as yet un-
determined jurisdiction by the courts,
The freight rate OF every product Of
100000 people, 1t is presumed-yes,
it is known-that n President re-
sponsible MOI to himself, but TO the
party that has made him, will so
acquit himself, if within his power. as
20 vindicate the choice of that party
and of the people who elected him Ad-
nittedly our present monetary system
s defective, but the assumption that
new one can be substituted that
would be perfect is somewhat violent.
When the cold winds dry and crack
the skin. get Dewitt s Witch Hazel
Salve, Sold by Anstee-Brice Drug Co.,
4 Main ST.