Daily capital journal. (Salem, Oregon) 1903-1919, 1908-12-08
..,,uae From Page 10

.%s 'nresent time Is excel
"a ~ financial management
2 soo's ~ interests by the gov
S' dng the last seven years
tSe most satisfactory re-
mt our currency system is
9u, A II is earnestly to be
NE currency commission
M. % propose a thoroughly
..tau, @ which will do away
~ eysting defects.
he period from July l.,
~ ,eptember 80, 1908, there
ncrease in the amount of
circulation of S902,99l,-
he Increase in the per capita
.bls period was 500. Within
u there we're several occa-
ben Il was necessary for the
department to come to the
q, the money market by pur-
or redemptions OF United
6opds; by increasing deposits
.nnal banks; by stimulating
al issues of national bank
md by facilitating importa-
.rom abroad of gold. Our i'm
currency system has made
foceedings necessary.
-hort. during the seven years
<ae months there has been a
tplus of nearly one hundred
of receipts over expend-
reduction of the interest
debt by ninety millions, In
4 the extraordinary expense of
mama canal, and q saving of
mine millions on the annual
charge.
ia an exceedingly satisfactory
especially In view of the
"a during this period the ma
! never hesitated to under
N expenditure that 1t regard
necessary. There have been
taxes and no increases of
on the contrary, some taxes
<een taken off; there has been
q <tion OF taxation.
Corporations.
tegards the great corporations
Estate business. and especially
[.roads, can only repeat what
already again and again said
messages TO the congress. |
that under the interstate
'of the constitution the United
has complete and paramount
y control all agencies of inter
<ommerce. and | believe that
Iiional government alone can
y this right with wisdom and
teness so as both to secure
from. and to do Justice to,
eat corporations which are the
Important factors In modern
b. | believe that Il is worse
Billy to attempt to prohibit all
sations as is done by the Sher-
ntl-trust law.
railways OF the country should
completely under the inter
|pmmerce commission and re-
from the domain of the anti
hw. The power of the com
b should be made thorough
|graph and telephone compa-
ngaged in interstate business
be put under the jurisdiction
Interstate commerce commits
very earnestly 10 be wished
nr people, through their rep
'ptatiyes. hould act in this mat
war we wage must be waged
misconduct, against wrong
wherever IL is found; and we
Dtand heartily for the rights
Fy decent man. whether he be-
OF great wealth or a man who
bis livelihood as a wage-work-
tlller OF the soil.
10 the interest OF all Of us
lere should be a premium put
Individual initiative and indi-
capacity. and an ample reward
great directing intelligences
'ompetent 10 manage the great
ss operations of today.
often We see the business COM
In a spirit of unhealthy class
'usness deplore the effort TO
3 account under the law the
y men who In their manage
~ great corporations, whether
ds, street railways, or other
Pal enterprises. have behaved
'ay that revolts the conscience
plain, decent people. Such an
r cannot be condemned too
y, for meu or property should
ize that they jeopardize the
OF property when they fail
y 10 join In the effort To do
Nith the abuses of wealth.
opposition TO government con
these great corporations
Its most effective effort In
ape OF an appeal 10 the old
'e OF states rights. OF course
're many sincere men who now
In unrestricted indiyidualism
mess, Just as there were for
many sincere men who be-
pa slayery-that is. in the un-
'ed right of an individual to
nother individual.
ehlef reason, among the many
and compelling reasons, that
the formation OF the national
Ihent was the absolute need
Pc Union, and not the several
should deal with interstate
.eign commerce; and the pow
utdl with infQrotafa aommprpp