The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1908-07-17

iniquities.
We favor immediate revision of the
| tariff by the reduction of import duties.
Articles entering into competition with
>trust-controlled products should be
| placed upon the free list; and mate
rial reductions should be made in the
tariff upon the necessaries of life, es-
| pecially upon articles competing with
| such American manufactures as are
| sold abroad more cheaply than at
home; and graduate reductions should
be made in such other schedules as
may be necessary to restore the tariff
to revenue basis.
We demand the immediate repeal of
the tariff on pulp, print paper, lumber,
timber and logs and that these arti-
cles be placed upon the free list.
Trusts.
A private monopoly is indefensfble
and intolerable. I'VE, therefore, favor
the vigorous enforcement of the GRIM
inal law against guilty trust magnates
and officials, and demand the enact
ment of such additional legislation as
may be necessary to make 1t impossi-
BILE for private monopoly to exist in
the United States. Among the addi-
tional remedies, we specify three:
First, law preventing duplication
of directors among competing corpora
tions; second, a license system which
will, without abridging the right of
each state to create corporations, or
it's right to regulate as it will foreign
corporations doing business within its
limits, make it necessary for manu-
featuring or trading Cornoration en-
gagged in interstate commerce to take
out federal license before 1t shall
be permitted to- control as much as
rs per cent of the product in which
1t deals, the license to protect the pub
lie from watered stock and to pro-
hibit the control of such corporations
of more than so per cent of the total
amount of any product consumed in
the United States; and, third, law
compelling such licensed corporations
to sell to all purchasers in all parts
of the country on the same terms,
after making due allowance for cost
of transportation.
Railroad Regulations.
We assert the right, of congress to
exercise complete control over (nter-
state commerce and the right of each
state to exercise like control over
commerce within it's borders.
We demand such enlargement of the
powers of the interstate commerce
commission as may be necessary to
compel railroads to perform their du-
ties as common carriers and prevent
discrimination and extortion.
We favor the efficient supervision
and rate regulation of railroads en-.
gagged in interstate commerce and to
this end we recommend the valuation
of railroads by the interstate COM
merce commission, such valuation to
take into consideration physical val
ues of the property, the original cost
of reproduction and all elements of
value that will render the valuation
made fair and just.
We favor such legislation as will
prohibit the railroads from engaging
in business which brings them into
competition with their shippers, also
legislation which will assure such re-
duction in transportation rates as con-
ditions will permit, care being taken
to avoid reductions that would compel
a reduction of wages, prevent ade-
quate service or do injustice to legiti-
mate investments.
We heartily approve the laws pro-
hibiting the pass and the rebate and
we favor any further necessary leg
islation to restrain. control and pre-.
vent such abuses.
We favor such legislation as will in
crease the power of the interstate
commerce commission, giving to it the
initiative with reference to rates and
transportation charges put into effect
by the railroad companies, and permit.
ting the interstate commerce commits
sion, on it's own initiative to declare
a rate illegal and as being more than
should be charged for such service.
Banking.
The panic of 1907, coming without |
any legitimate excuse, when the Re- |
publican party had for a decade been |
in complete control of the federal gov. |
eminent, furnishes additional proof |
that 1t is either unwilling or incom- |
petent to protect the interests of the |
general public. 1t has so linked the |
country to Wall street that the sins |
of the spectators are visited upon the |
whole people.
We believe that insofar as the needs |
Of commerce require an emergency
currency should be issued. controlled
by the federal government, and loaned
on adequate security to national and
state banks. We pledge ourselves to
legislation under which the national
banks shall be required to establish a
guaranty fund for the prompt pay.
ment of the depositors of any insolvent
national bank, under an equitable sys.
tenn which shall be available to all
state banking institutions wishing to
use it.
We favor postal savings bank If
the guaranteed bank cannot he &C.