The Cairo bulletin., 1908-03-30

| leslSIalloH. .efhdpS the most fal
reaching of these events was the de,
cision Of the supreme court OF the
United States in the celebrated Min.
nesota and South Carolina railroad
rate cases. This decision asserts that
the fixing of rates by legislation so
| low as to be practically confiscatory
! is in direct violation of the constitu-
| ton since the latter prohibits any
| Legislation which takes property
without just compensation Hereafter
there will be no successful attempts
! by state legislation TO nullify tn guar
antces Of the Fourteenth amendment
and federal courts viii be enabled to
enforce their DEGREES in spite of the
opposition of state officers. As al.
ready said this is a decision of the
highest importance 1t once more af-
firms the fact that the constitution of
the United States is the supreme law
Of the land; it guarantees protection
to property. and will put an effectual
stoppage upon the confiscatory at
tacks on property when have become
SO popular in state legislatures fer
political or socialistic purposes.
Presidents Message Discussed.
Another favorable incident was the
temperate character Of the presidents
message. Howsoever the various
recommendations in that message
may be considered. there will be one
opinion as to the wisdom of a calm
and dispassionate presentation of adj
ministratiye views upon public ques-
lions. In this respect the presidents
last message should be an example
to other individuals who are taking
leading parts in the present political
campaign. The time for excessive de-
nunciation and eXhortation has passed
The country has had more than
enough of that sort of political agita-
ton; it now needs quiet and rest in
order that business may recover from
the panic and that the reforms which
have been so earnestly pressed may
be calmly considered, and If neces-
sary, put into effect after well con-
sidered and deliberate debate The
president Is to be stronly commended
for his judicial attitude toward both
capital and labor lie insists that
both shall have their rights; that
both have their responsibilities; that
both shall be equal before the law,
and that neither shall claim nor Sc
cure special exemption and privilege.
lie also notifies Labor that it cannot
expect to have boycotts or blacklists
localized. Altogether the presidents
message has done much toward sooth-
ing irritated nerves and softening the
asperities of the political campaign.
Incidentally. he has materially inn
proved the chances OF Republican
success at the polls next November.
Hepburn Act Absurd.
Quite recently the sherman anti
trust law has been a subject of active
discussion It's original crudity in
~ ohibiting all contracts in restraint
Of trade has long been self-eyident.
Poth capital and labor are interested
il having the act so amended as to
Permit the ordinary combinations of
the day, which are inseparable from
modern business methods. The Hep
burn act is an absurd, complex and
emrsive attempt to amend the Sher-
man law. Everything it attempts
could be accomplished by suitable in
of the word unreasonable.
So long as contracts are reasonable
in their restraints and not against the
interest of all concerned, they should
be permitted: and in case of disputes
the courts may easily be called upon
to decide between reasonable and un
contracts. There still re-
mains the common law. the applica
ton of which when invoked should
be sufficient to protect both capital
and labor from improper encroach-
ment or interference. The Hepburn
till should be killed because it is UNI
recessarv and is clumsily conceived, |
there is little prospect of
anything being done in congress on
this subject during the present SEES
sion
Labor Situation.
The labor situation is still unset |
tied: many hands are out of employ |
ment and the outlook i'm this respect |
Is anything but satisfactory. With |
The approach of spring. it is possible |
that some sort of compromise may
b. effected as work could often be
more easily started if moderate con
cessions were obtained i'm wages. The |
wages problem is still the most diff |
cult question in many lines or indus
try. It is one perhaps that is best |
left to settle itself-free as possible |
Df political and government interior
arce. Both capital and labor best un-I
lerstand their individual interests |
and should be quite able to reach an |
adjustment Of their differences with
ut outside Interference. Any other
mcthod of settlement is a reflection
1pon the intelligence Of one party or
he other: besides we are getting
rather too much paternalism in gov
eminent nowadays.
Substantial Rise.
The stock market has now had
very substantial rise. and the induce.
nents to take profits by those who
bought at panic prices have been ir-
risstible. It is quite evident that the