Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1908-08-06

banks as may come in, in the nature of
enforced insurance to raise guaranty
fund to pay the depositors of any bank
which fails. The proposition is to tax
the honest. prudent bankers to make up
for dishonesty and imprudence of others.
No one can foresee the burden which
would be imposed upon the sound and
conservative bankers of the country by
this obligation to make good the losses
caused by the reckless. speculative and
dishonest men who would be enabled to
secure deposits under such a system on
the face of the proposed insurance. In
its present form. the proposal would re-
move all safeguards against recklessness
in banking and the chief and in the end
probably the only benefit would accrue
to the Spectator.
The Republican party has pursued con-
sistently the policy originally adopted
with respect to the dependencies which
came to us as the result of the Spanish
war. The material prosperity of Porto
Rico. Cuba and. the Philippines and the
progress of their inhabitants toward bet
ter conditions in respect to comfort OF
living and education should make every
American proud that this nation has been
an efficient instrument in bringing happi-
ness to these millions of people.
The Question of Reasonable Profit.
Critics of the tariff plank in the Re
publican platform are declaring that
there is probably not protected indus
try in the country that thinks it has
"a reasonable profit" even under the
present law That assertion is not true,
surely, and it may be doubted if those
who make it believe it to be true. No
cause is helped by misstatements, de-
!iberate or other. The necessity of
maintaining profits in connection with
IN effort to equalize the cost of produc-
ton at home with the cost of produc-
ton abroad may not be apparent. At
the same time, not all the men at the
head of enterprises which benefit by
the duties that are levied at ports of
entry are so foolish or short-Sighted as
to contend that they are not making
reasonable profits, and some of them,
bent on securing cheaper raw mate
rails, have admitted over their Own
signatures that they could compete on
almost equal terms with foreign rivals.
Protection that does not protect is of
no advantage. of course, and protection
that does give to home producers what
practically amounts to monopoly of
the home market must, in the nature of
things, yield a fair profit or business
would come to Il Observation-Disclosures
Tribune.
No Indiscriminate SIashing.
Under Republican domination there
will be no horizontal or indiscriminate
slashing of rates or slapdash assault on
specific interests, dictated by rivalry
which seeks in this manner to get the
better of others The rights of all will
he considered, and there will be a
chance for all to be heard. Further
more, it is quite likely that before the
time of revision shall arrive the false
pretenses of the enemies of protection
will be fully exposed. There is the
hoarv old absurdity about ''prOhibi-
five tariff made ridiculous by the
enormous extent of American imports,
vet constantly rolled forth as free
trade shibboleth. The truth is that the
tariff law is extremely liberal in many
respects, as is attested by the fact that
hundreds of articles are on the free
list, and, taking one year with another,
nearly so per cent of imports pays no
duty whatever CIV. Ya.)
Telegraph.