Arizona republican., 1908-06-17

the conduct of legitimate business.
 '"No one who considers calmly can question that the underlying, conditions which make up our financial and in dustrial well-being aree essentiallst' sound and honest. Dishonest dealing land speculative enterprise are merely prosperity. The action taken by you and by the business men in question has been of the utmost consequence land has secured opportunity for the calm consideration which must inevit Iably produce entire confidence in our business conditions -n fl "That such a disturbance should thaye occurred under such circum- stances furnish the strongest evidence that there is. something inherently de-
 fective in the system itself, which can only be reached by thorough over hauling. But this system. hastily in ,augurated by Secretary Chase during | the exigencies of war, while confessed ly defective in it's inability to respond at all times to the varying and exact ing demands of trade, yet. during the forty five years of it's existence, has served wise and benificent purpose. The foreign policy of the United States was warmly commended and the results had been most satisfactory that now our relations with our neigh bors had been established on firm
 basis of friendship.
 He said: The building of the Pana- ma canal, the most colossal under taking of the century. the successful completion of which is now assured.
 makes it more important to the United States than ever before that there shall
 be no hostile control of the route be-
 tween either our great Atlantic and Pacific ports and the Isthmus, For 1 that reason it is of especial importance
 that the people inhabiting the islands l and shores of the Caribbean shall
 maintain independent, peaceful. and | prosperous governments. The policy
 of the United States to aid them in maintaining such governments has | been prosecuted with special success l during the last four years.
 'The frightful disorder and blood
 shed which had marked the annals of
 San Domingo for many years have | been ended by an agreement with the | United States taking the form of a | treaty. entered into with the approval | of the senate. under which, by the fsimple appointment of an American agent to collect Dominican customs
 revenues, and apply the surplus toward ] the payment of the Dominican debts. without landing a soldier or firing a l gun. complete peace has been main ! tained for four years past, the com | r,A ,F tt,.. revived. the revenues have doubled,
 and the nominal indebtedness of over
 S40,0OO,0GO, which hung like a pail over tue people, who had given up all
 attempts to psy either principal or in
 terest, has been adjusted and settled
 at less than S20.000. 900. for which in 1 terest and sinking fund payments are
 completely assured by the revenues re sulting from the new prosperity.
 As a result of this policy, severely ! criticised at the time of it's inaugura-
 tion, but now generally commended,
 revolutions on the island have prac- ticaily ceased. customs laws have been
 impartially enforced, resulting in an ! increase of customs collected from
 $1,S52, ,209 in 1904 to $3,42S.O12 for the
 year ending March 31, 1908. Out of | $9i103,939 collected in the last three years s4,000,000 over and above the
 expenses of the government have been
 saved for the benefit of creditors
 With the active participation of l the delegates of the United States, the Second International Peace Conference ] at The Hague. in the summer of 1907. | entered into agreements which. taken together. have been declared by high
 authority to constitute one of the
 greatest advances ever made toward
 the reasonable and peaceable regula- ton of international conduct. Twelve
 treaties agreed upon at that Confer
 ence. all designed for reducing the
 probability or mitigating the horrors
 of war have been approved by the
 senate and ratified by the president
 of the United States.
 Important among these treaties was
 the agreement proposed and urged up- ! on the conference by the United 1 States under which all the civilized | powers agree not to use force for the 1 collection of contract debts claimed by i their citizens against other countries,
 so long as the alleged debtor seeks the [ ! justice and the amount of the debt or 1 time and mode in which it ought to be paid. This agreement is a long 1 step toward putting an end to that l speculation on the necessities of weak
 and disordered countries, which relies
 for the enforcement of exorbitant and l fraudulent claims upon the bullying J and gunboats of the greater powers. i Following the action of The Hague { convention in providing greater faci-
 lities for the use of the Permanent | Court of Arbitration at The Hague, | tho United States has put itself upon
 the basis of the peaceful settlement of 1 international disputes by concluding general treaties of arbitration with 1 England. France, Spain, Portugal the Netherlands, Denmark, Sweden, Nor way Switzerland, Italy, Mexico. and
 Japan, while many other similar treat
 ies are in course of negotiation. Under ! the general treaty with Great Britain.
 the two countries have agreed to arbi- trate before The Hague Tribunal the ! difficult and vexing questions which. for more than a century. have caused so much i'll will and controversy. re- garding the rights or our fishermen in |, the fisheries on the coasts of New foundland and the maritime provinces Of Canada. Congress, at it's last ses- sion made the nacaSSarv anpronria !.