Omaha daily bee., 1908-07-29

OF business plants and business Investment.
which could not be readily converted, b.
sanHee' Of living. in wars ana other estas-
trophies. The free convertible capital was
exhausted. In addition to this the confi-
dence OF the lending public in Europe and
In this country had been affected by the
revelations Of irregularity.. breaches Of
trust. overissues OF stock. violations OF law
and lack OF rigid state Or national super
vision in the management Of our largest
loanable capital remained available. It be
came impossible for the soundest railroads
and other enterprises to borrow money
enough for new construction or r~eeonstruc-
/ lion.
Will Delay Restoratiou OF Prosperity.
Gradually business is acquiring q
healthier tone. Gradually All wealth. which
was boarded is coming out to be used
Confidence in security of business invest
ments is a plant of slow growth and Is
absolutely necessary in order that our
factories may all open again. in order that
our unemployed may become employed
and In order that we may again have the
prosperity which blessed us for ten years.
The identity of the interests Of the capt
talist, the farmer, the business man and
the wage Garner in the security and profit
of investments cannot be too greatly en-
phasized. | submit to those Interested, to
wage earners, to farmers and to business
men; whether the introduction into power
of the democratic party, with Mr.. Bryan
at its head. and with the business destruc-
ton that II openly advocates as a remedy
for present evils. will bring about the
needed confidence for the restoration OF
prosperity.
Republican Doctrine OF Protection.
The republican doctrine Of protection, as
definitely announced by the republican
convention Of this year and by previous
conventions, Is that r tariff shall be TN
posed on all imported products, whether
Of the factory, farm or mine, sufficiently
great to equal the difference between the
cost of production abroad and at home,
and that this difference should, of course,
include the difference between the higher
] wages maid in this pOr1ntTV nd the wages
paid abroad and embrace a reasonable
profit to the American producer. A sys-
TEN Of protection thus adopted and put
in force has led to the establishment OF a
rate of wages here that has greatly on
HANGED the standard of living. OF the labor
ing man 1t is the policy of the republic
can party permanently to continue that
standard OF living In 1897 the Dinglcy
tariff bill was passed, under which we
have had, as already said, a period Of
enormous prosperity.
Necessity for Revision OF Tariff.
The consequent material development has
greatly changed the conditions under
which many articles described by the
schedules Of the tariff are now produced.
The tariff in a number CT the schedules
exceeds the difference between the cost
OF production of such articles abroad and
at home. including a reasonable profit to
the American producer. The excess over
that difference serves no useful purpose,
but offers p temptation to those who
would monopOlize the production and the
sale of such articles in this country, to
profit by the excessive rate. On the other
hand, there are some few other schedules
in which the tariff is not sufficiently high
to give the measure of protection which
they hey in should receive upon ,[Eepu6iican
should be raised. A revision of the tariff
undertaken upon this principle, which is
tenn, begun promptly upon the incoming
Of the new administration, and considered
at a special session with the preliminary
Investigations already begun by the ap-
! DrOnriatP committees of the house and
senate, will make the disturbance OF bust
ness incident to such a change as little as
possible.
The democratic party in its platform has
not had the courage of its previous con-
victions on the subject Of the tariff,
denounced by 1t in 1904 as a system Of
the robbery OF the many for the benefit
OF the few, but 1t does declare It's inten-
ton to change the tariff with a view to
reaching a revenue basis and thus to de-
part from the protective system. The in
PRODUCTION into power of a party with this
avowed purpose cannot but halt the
depression and produce business disaster
compared with which our recent panic
and depression will seem small indeed.
Farmer and Republican Party.
As the republican platform says. the well
fare Of the farmer is vital to that Of the
whole country. One of the strongest hopes
of returning prosperity is based on the
He is vitality interested in the restraining
OF excessive and unduly discriminating
railroad rates, in the enforcement Of the
pure food laws, in the promotion OF scienti-
fc agriculture, and in increasing the com
forts of country life, as by the extension
Of free rural delivery. The nolicies of the
present administration which have most
industriously promoted all these objects,
cannot fail to commend themselves to his
approval; and it is difficult to see how with
his intelligent appreciation Of the threat
to business prosperity involved in demo-
cratic success at the polls he can do other
wise than give his fun and hearty support
to the continuation Of the policies Of the
auspices.
Labor and the Republican Party.
We come now to the question of labor.
One important phase OF the policies OF the
preseut administration mas been an anxiety
10 secure for the wage-earner an equality
OF opportunity and such positive statutory
protection as snail place MIN on a level in
dealing with his employer. The republican
party has passed an employers liability
act for interstate railroads, and has es-
tablished an eight hour law Tor government
employees and on government construction.
The essence of the reform effected by the
former is the abolition Of the felluW-serVant
lule, and the introduction OF the com
paratiye negligence theory by which an
employee injured in the service of his en-
plOycr does not lose all his right to recover
because of slight negligence on mis- part.
Then there is the act providing for com
pcusatlUn for injury to government en-
pluyees, together with the various statutes
requiring safety appliances upon interstate
commerce railroads for the protection OF
NltlI tlHpAoN tcS' anu uniting the hours OF
their employment. These are all Instances
Of the desire Of the republican party TO do
justice 10 The wage Garner. Doubtless a
more comprehensive measure for cOmpensa-
ton of government employees Will be
adopted in the future: the principle in such
cases has been recognized, and i'm the neCes-
sarlly somewhat slow course of legislation
Will be more fully embodied in definite
statutes.
Interest OF Employer and Employee.
The interests of the employer and the
employee never differ except when II comes
to a division Of the joint profit of labor
and capital into dividends and wages. This
must be a constant source of periodical
discussion between the employer and the
employee. as indeed are the other terms of
the employment.
To give the employees their proper posi-
ton in such a controversy, to enable them
10 maintain themselves against employers
having great capital, they may we'll unite.
becausa In union there is strength and with
out il each Individual laborer and employee
would be helpless. The promotion Of in
dustrlal peace through the instrumentality
Of the trade agreement is often one OF the
results OF such union when intelligently
conducted.
There is a large body OF laborers, how
ever, skilled and unskilled, who are not or
ganized into unions. Their rights before
the law are exactly the same as those OF
the union man, and are to be protected
with the same care and watchfulness.
In order TO induce their employer into a
compliance with their request for changed
terms of employment, workmen have the