Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1908-12-16

twashmgt ton The message ofSPresi-
dent Roosevelt was read in both
houses OF congress Tuesday. In sub
stance the document was as follows:
To the Senate and House of Represen-
tative5: The financial standing Of the
nation at the lpteseiti time is excellent.
and the fiuaucia1 mana CEMENT of the ma
tion'e interests by the government dur
ing the. last seven yeart has shown the
most satisfactory freSalts.s But ourJctr-
rsncy system is imperfect, and 1t is ear
nestly TO be hoped that the currency
commission will be able to propose
thproughly good system which will do
swAysrriIh the texistIp z Defects. go
During the period from 3ulyg1. 1901, to
gsptenbeF %. 1903. there was an i increase
in the amount Of money I'M circulation on
R904ssl. 399s TheslncreASe infthe per capita
during this period was s7.Oe. within this
time there were several occasions when
It was necessary for the treasury de-
PArtment TO come ~ the relief of the
money markedly purchases OF Lredemp-
lions OF United States bonds; by increas-
Ing deposits in national baTiksi by slim
ulating additional issues OF national bank
notes. and by facilitating importations
from abroad of gold. Our tn1perfsct our
rency system has made these proceedings
necessary, and they were effective until
the monetary disturbance in the fan OF
1901 Immensely increased the, difffcultyo OF
ordinary methods OF refer, BY the MID
die of November tho available wording
balance IN the treasury had been reduced
TO approximately .-S5.000;00V. ] Clearing
house associations throughout the coun-
try had been obliged to resort to- the
expedient OF issuing clearing house GER
titeates. to be used as money =. In this
emergency II was determined to invite
authorizations F0r
bonds. ana 500, 900 three per cent.
certificates OF indebtedness authorized by
the act Of June 10. 1898. 1t was proposed
TO reoeposit In the national banks the
proceeds of these issues, and to permit
their use as basis fori additional circu-i
lating notes of national banks. The
moral effect OF this procedure was so
great that II was necessary to issue ONLY
t1A,6sl.sS0 Of the Panama bonds and s15.4
t3s,6oo OF the certificates OF andebtednesss
During the period from July Z 1901. to
September 60 1908. the balance between
the net ordinary receipts & and Z the met
ordinary expenses Of the L government
showed surplus In the four years 1902
1908. 1905. and 1907, and a deficit in the
years 1904. 1906 1908 and fractional part
OF TIE fiscal year 1909. The net result
was n surplus of 500. SS,41354 The finan-
eial operations of the government during
this period, based upon these differences
between receipts and expenditures. re-
suited in net reduction Of the Interest,"
bearing debt Of the United States from
1900 to 97.253, $50. Notwithstanding
tnat there had been two sales of Panama
canal bonds amounting in the aggregate
10 tA.6sl,9SO, and an issue of three per
cent certificates of indebtedness under
the act Of June 49, 1885, amounting to
tl5.f 500 Refunding operations of the
treasury department under the act of.
March II. 1900, resulted in the CONVEX
sion into two per cent. consols of 1880 of
500. Soe,4oo bonds bearing higher rates of
interest. A decrease OF IS, 6S7, $50 in the
annual interest charge resulted from
these operations. -s p =
In short, during the seven years and
three months there has been q net sur
plus Of nearly one hundred rnillionsl of
receipts over expenditures. a reduction
lnf the interest-bearing debt by ninety
millions. In spite Of the extraoFdinary ex-
pense OF the Panarnat canal, and saving
OF nearly nine millions on the annual
interest charge.
Control of Corporations. .-
As regards the great corporations en- :
gagged IN interstate business, and espe-
ciAlly the railroads. 1 can only -repeat
what have already again and again said
In my messages to the congress I he
hsXe that under the. Interstate clause of
Tho constitution the United States has
complete and paramount right to con-
troll all agencies of interstate commerce
md believe that the national govern
tnsnt alone can exercise this right with
wisdom and effectiveness so as both to
secure Justice from, and to, do Justice 70
The great corporations which are the
most important factors IN modern, bust
pssA ! believe that 1t IS worse than
fOlly e attempt to prohibit all COM
I'M la = -,
Anti-tT0st law, because such law can
ba eofoFrEd~ only imperfectly and I'm
tQuaIly. lHnd. ITS enforcement works All
tnoSt as much hardship - as, good.
gtrOngly advocate that instead. OF an un-
sass effeft To- prohibit all coinbiiIat lions.
eHsre ShHA pc Fubs tnted q law which
eban expressly peEInit--- .oofnbina lions
which ara I'M the einterest OF the public.
fOt shall, the samsstime give to some
agency ~ StA esnaio nals ,governlrentis flu
power of Sontrol and Supervision over
fhem One or the chief features of this
SontrOl should be securing entire pub
BETTY in all matters which the public
AAD n riGht.!to know, and furtherm ore,
tAs power. not by judicial. but by execul
eVs action. to prevent or put a stop to
every form Of improper 1aYoritisu OF
other wrongdoing. = = - -
The railways OF the country should be
Rut completely under the Interstate com
nSrco commission ana removed from
Pc domain OF the antitrust law. The
DowcT Of the commission should be made
thnroughsoing; so that 1t-Sould exercise
kozapsete sApefTision and lcontrop owe.
As issue tOf Is6caFities Asswen .aS -eoSei
- raising and lowering of rates. A:
tegArds rates. at least. this power should
p Eanmary. Rates must be mad,
- low as Is compatible With giving prop
~ returns to all the employees of thei rail-
foAa. from the highest to the lowest
M proper retprns to- the shareholders
eua they must not. Tor instance, be re
anced IN such fashion as to necessitat.
, eue in the wages or the employees O
Rho abolition OF the proper and Legitimate
proots Of honest shareholders
Telegraph and telephone companies en-
lgagSA ma iHterstate business lshotld 8
Du1 uAdeE the jurisdiction OF rthS inter
ABta1A eensmercs commission z.a7 -. 3
n - very earnestly to be wished tina
sUuR people. through their representative
fsAOaA act in this matter. Ut. Is s q
3ths interest of all of us tina
-enusvuuhoula be q premium put Upon Ii
.DsaapJ Initiative. and individual ca