Devils Lake inter-ocean and Devils Lake free press. (Devils Lake, Ramsey County, N.D.) 1905-1909, 1908-06-26

law ar d what at one time threatened
to be pTotracted and acrimonious
struggle Is fast assuming a peaceful
solution.
Favors Revision Of Tariff.
"The Republican party stands for @
revision and readjustment of our cuH-
toms laws as changed Industrial con-
ditions at home and abroad may have
made necessary. keeping steadily in
view the cardinal principles Of protec-
ton to American industries and Amer
lean labor. AS evidence of its good
faith In this regard the national house
OF representatives, clothed under the
Constitution with exclusive jurisdic-
ton to originate all bills for raising
revenue. on the Goth of April just
passed, BY formal resolution, author
lied and directed its committee ON
ways and means, the organ of the
house having Jurisdiction of the ques-
ton, to sit during the recess of con-
gress end to gather such information,
through governmental agents and 9TH
erwtse, as it may see fit, looking to-
ward tho preparation of bill for the
revision Of the tariff
"Supplementing this action ON the
part of the house of representatives
and cooperating with it the senate
also provided for an inquiry.
These public declarations by con-
gress. upon the eve OF the election,
|
sible that the work will be speedily
undertaken and pressed to an early
contamination.
I'm this connection It can be safely
promised that whatever revision or re-
adjustment takes place under the con-
troll Of the Republican party it viii
give just and adequate protection to
American Industries and American la,
Dor and defend the American market
against the unjust and unequal aggres-
sion from whatever quarter they may
come.
What the Panic Means.
"Our recent financial disturbance
challenged the soundness of our
monetary condition and brought to the
fore the question of cur banking and
currency system, the consideration Of
which became and continues to be
subject Of pressing and commanding
Importance. In the midst Of unusual
prosperity. with 6,898 national banks
under direct supervision and control
OF the national government, with q
paid up capital OF over $500, 000, 900, a
surplus and undivided profits Of $780,
| 100000 and an outstanding circulation
of s630,o00,o0o, secured by United
States bonds, every dollar of which
was worth its face In gold; with an
unprecedented holding of coin in the
treasury of the United States, yet sud-
| den paralysis seized the banks, ma.
! tional and state, and they were either
| reluctant or unable to respond to the
| ordinary and legitimate demands of
| trade.
Consideration prevailed, confidence
shaken and nothing but the prompt
and heroic action Of the secretary Of
the treasury averted O widespread and
serious catastrophe.
THAT such a disturbance should
have occurred under such circum-
stances furnishes the strongest evil
dence that there Is something inher-
emily defective in the system itself,
which can only be reached by a thor
| ough overhauling. But this system,
hastily inaugurated by Secretary
| Chase during the exigencies of war.
while confessedly defective I'm its in
ability to respond at all times to the
| varying and exacting demands OF
trade, yet. during the forty-five years
of its existence, has served wise
and benehcent purpose.
| while other countries have added
to their burden Of debt, with an in
| creased rate OF interest thereon, this
nation has paid Off $1,494,000 Of its
obligations and the present admins
tration has lessened the volume, OF
our Indebtedness by S101, 341. 628 and
In its rounding operations has re-
duced the annual interest charge from
| $40, s71 .46s to $21, 1876. u
Roosevelt an Immortal Nar1e.:
Threatened tariff wars between the
United States and Germany and be-
tween the United States and France
have been aEerted by commercial
agreements between the United States
and each of those countries, made
under the authority given to the pres
ident In the third section of the Ding
ley tariff act. ~ ~:7ii;> . - n
i But the GROWING act In this drama
/ was that In which the president him
self took the initiative, halted the
armies OF Russia and Japan, bringing
/ about an honorable and. 1t is to be.
hoped, enduring peace. .. = ;s4zi
yet nothing has added so much to-
/ his Just fame as his persistent and:
trRevocable refusal to break the un-t
! written law of the republic by accept
ing q nomination for third term. BY
/ this act OF self-abnegation he, places
his name and fame in the secure keeps
ing Of history by the side OF that or
! the immortal Washing $$sSss s.s.S
S5 The work Of this convention Will
4 snan @J,n rnY3 c5ifd Oh The ,JfafFnsna Wifi