Omaha daily bee., 1908-09-07

No such system can be reached until
the public believes that It Is necessary.
such belief is rapidly growing, and will, in
time, bear fruit in such a system, but
when this system comes, as II ultimately
will, It will be largely the results OF the
process OF education and intelligent public
ity that for the last eight years has been
carried on by the republican administra-
ton in connection with corporate affairs"
History OF Money Panic.
The article on the money panic gives a
history of the panic OF 1907. its causes
and the measures adopted to prevent their
recurrence. The panic, according to the
text book. was financial, not Industrial or
commercial.
The action taken to meet It and check
It, including that taken by Secretary of
the Treasury Cortelyou, are detailed, and
the secretary's able management, 1t is
declared, deserves high commendation. 1t
was an action of prevention instead of
waiting for a cure, which latter always
Involved cost and disaster.
In addition to the emergency legislation
adopted by congress on the recommended
ton of President Roosevelt, IL is pointed
out that a national monetary commission
was appointed to inquire and report to
congress at the earliest practicable date
what changes are necessary or desirable
in the monetary system of the United
states.
Article on the Tariff.
The tariff question is dealt with at great
length and its history and what II has
done for the country brought out strongly.
Since 1897 to the present time the
Dingley law has been in operation" says
the book, and under 1t the United States
has shown a progress and prosperity
never before known in the history of
civilization. The tenets of the demo-
Gratis being to the effect that the tariff
should be for revenue only, while many
Of the leading democrats advocate abso-
lutte free trade, 1t is not difficult to draw
the line between the two parties and fore
tell what woul be the result of a change
of our policy which has been so success
full. t.
Perhaps the most persistent complaint
made against the protective tariff is the
cry that the tariff is the mother Of
trusts, to use the careless words of a
departed monopolist.
Trusts, however, are not a product con-
fined to the United States or to pro-
tective countries, as free trade England
is covered with them from one end of
the country to the other.
Regarding the charge that under our
protective system our manufacturers are
selling goods abroad cheaper than at home,
1t may be said that universal principle Of
business. of production and markets, is in
dulged in to a far less degree in the United
States than abroad, and at no time to the
injury OF the American laborer. We also
sell many things abroad at a larger price
than we do at home. We sell things ac-
cording to the markets. according to prices,
according to supply and demand, according
to the universal price OF competition, but
ming into Chisholm, took fifteen box cars
always to the advantage OF the American
laborer, who receives q higher reward for
his labor than can be found elsewhere on
the face Of the earth. ,
of the many satisfactory reasons for
maintaining a protective tariff, the great
est. of course. will be that of the higher
wages insured to the American working
man. ...-
Another reason why we should continue
our tariff on protective lines is that 1t gives
us a surplus In the treasury.
Another argument which the free trad
ers and democrats are delighted to indulge
in has been that II we do not buy we can
not sell. In the eleven years Of the Ding
ley tariff our sales abroad have practically
doubled and we are today in the first rank
as an exporting nation, and during this
time our favorable balance Of trade has
exceeded 1900, oo,OOO."
Labor Conditions Reviewed.
The question of labor conditions Is gone
into most thoroughly. Tables showing
the number of men employed during re-
publican and democratic years are given
and the figures make It apparent that
there were more persons employed during
the administration OF Mckinley and
Roosevelt than during any period of dem
ocratic rule. The table also shows that
employees worked fewer hours and re-
ceived higher wages. Agents OF the United
States Bureau Of Labor conducted the in
vestigation.
The book shows how wages were in
creased in 1897 over 1896. A m is
given, and would appear that in some
instances wages had been practically dou-
bled. Wages and the cost OF living are
then taken up. Tables are given to show
that the wage. increase up to 1901 from
1885 was 2s.2 per cent, while the food in
crease was 1858 per cent.
Campaign Contributions.
Much has been said. according to the
text book, on the question Of campaign
contributions and publicity. II adds:
"A careful analysis, however, of the ut
terances and pledges of the two candl-
dates, the two national committees and the
lawmakers OF the two parties upon this
subject shows that the democratic party
promises have been in all cases vague and
In such terms as to really supply little OF
the publicity which they purport to sup.
ply; while the republicans have already
actually prohibited, through legislation In
congress corporation contributions Il
campaign funds, and provided for publicity
far in excess OF that vaguely promised by
the democratic candidate and committee.
Tho charge is made that the democratic
pledge OF publicity relates only to a par
Of its funds and refers to the agreemen
reached at Fairview by the democratic com
mittee on the recommendation OF Bryal
and Kern to the effect that it accept n
Individual contribution above 5000.
T promise. therefore, says the book
lis merely that the committee will max
public before election a statement Of al
contributions above 500 in amount, but
makes no promise that any statement wi
be made Of the total sum received. tn
sums OF which 1t purposes to publish be
Ing simply all individual contribution