Waterbury evening Democrat., 1908-06-16

million dollars was, in 1907, 56 millions
 The production of sugar has advanced
 from los.ooo tons to 2o4,0oo tons, valued at
 l5 million dollars.
 When we took possession of the island there was but one school building owned
 by the government, Now there are over sO built and under construction, and the number of pupils in the public schools Is 1 10000. Peace and order prevail through out the island. and a representative is accorded to the United States.
 l The work of civilizing and uplifting the inhabitants of the Philippine Islands has gone forward with remarkable progress.
 The resignation of PVenesent Palma of the republic of Cuba and the failure of the Cuban congress to elect successor left that island without government at a time when great disorder prevailed, and the president deemed it his duty to estab- , fish provisional government restore or der. administer law and justice, but cou- pied with the announcement that this &C., ton was preliminary to the re-establish- ment of orderly government in the island. The threatened insurrections were avert ed, peace and good order restored and the development of production. transportation and commerce resumed. Public order has been perfectly kept. and at no time for century has the island been so free from marauding bands as under American pro- visional administration. Local and na- tional elections are to be held and the government again turned over to the Gu ban people.
 Our navy has been strengthened until today we hold a second place among the naval powers in the world, and our fleet of battleships rides triumphantly around the globe. receiving the friendly saluta- tions of the nations, conveying peace and good will to all the peOple
 Antitrust Prosecutions.
 The department of justice has prose- cuted its work with fidelity and diligence, seeking to prevent violations of federal law and to mete out meritorious punish ment to the guilty Its most important work during the past four years has been to defend the soundness of the positions taken by 1t relating to prosecutions un- der the sherman antitrust law and the Interstate commerce law by carrying pro- ceedings thus inaugusated through the various courts and to a final determina- ton by the supreme court of the United States that the constitutionality of these acts might be adjudicated and settled.
 The Republican party stands for a re- vision and readjustment of our customs laws as changed industrial conditions at home and abroad may have made neces- sary, keeping steadily in view the car dinal principles of protection to American industries and American labor.
 Our recent financial disturbance chal- lenged the soundness of our monetary condition and brought to the fore the question of our banking and currency system, the consideration of which be- came and continues to be a subject of pressing and commanding importance. In the midst of unusual prosperity, with C .1t vision and control of the national govern ment with a paid up capital of over 300 millions, surplus and undivided profits of 75o millions and an outstanding circu- iation of $50 millions, secured by United States bonds, every dollar of which was worth its face in gold, with an unprece- dented holding of coin in the treasury of the United States, yet sudden paralysis seized the banks, national and state, and they were either reluctant or unable to respond to the ordinary and legitimate demands of trade.
 Consternaton prevailed, confidence shak- en, and nothing but the prompt and hero Ic action of the secretary of the treasury averted a widespread and serious catas- trophe.
 The recent panic called the attention of congress to the necessity of further legis- lation, and a measure has been passed providing for an emergency currency of $500, 900, 600 to be issued under certain con- ditions and limitations. an authorization. 1t is believed, which will prevent the re- currence of any such disaster as befell the country last fall. The secretary of the treasury has already taken the neces- sary steps to give effect to this legisla- tion, and banking associations are al ready forming to avail themselves of the benefits of this act. It is doubtful if the provisions of this act will ever be in- voked, as the ability to supply $500 GOO, 900 additional currency whenever needed will of itself have a tendency to make its is 1 suance unnecessary.
 In the meantime, however, the Repub- | lican party is not indifferent to the neces- l sity of a further and comprehensive re- | vision of our monetary and banking sys- | tenn. and to that end the congress just | closed authorized the creation of none ! tary commission. composed of IS members l of the two houses of congress, clothed | with power to inquire into and report to ! congress at the earliest date practicable | what changes are necessary or desirable i In the monetary system of the United l States or in the law relating to banking | and currency. and for this purpose they | are authorized to sit during the sessions | or recess of congress, at such times and |
  send for persons and papers. to administer | paths, to summons and compel the attend ance of witnesses. experts and other as- sistants as shall be necessary to carry out the purpose for which said commission | was created and to make such investiga- lions and examinations in this or other of the subjects committed to their charge as they shall deem necessary.
 On the Worldwide Staae.
 But in the broader field of the worlds irama, where the nations are actors, our has taken a conspicuous and part. Having become c world power. our influence is worldwide md always exerted in the interest of peace and the betterment of mankind. When the dispute between Germany and France regarding the right of control in Morocco threatened to involve all Eu- | 'ope in var, the active influence of the l United States. both directly and through ts representative at the conference at Algeciras was a potent factor in bringing bout a peaceful solution
 The participation of the United States n the pan-American conference at Rio le Janeiro in August isos. and the visit If Secretary Root Co that conference and o all the principal maritime countries of ,outh America. where he was received with universal acclaim. put an end to the IuspiciOn and distrust with which the rowing power of the United States was eKarded by the Latln-American races md began a new era of friendshIp and ympathy between all the American re- ,ubIics This has been augmented by he secretarys visit 10 Mexico ss tha |