The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1908-03-19

license before /. shall be permitted to
control as much as twenty-five per
cent OF the product in which IL deals,
the license TO protect the public from
watered stock aud to prohibit the
control by such corporation OF more
than iifty per cent OF the total
amount OF any product consumed In
the United States and, third, law
compelling such licensed corporations
TO sell TO all purchasers In all parts
OF the country on the same terms,
after making due allowance for cost
OF transportation.
We welcome tile belated promise OF
tariff reform now offered by part OF
the republican party as tardy rec
ognition OF the righteousness OF the
democratic position on this question,
but the people can not safely entrust
the execution OF this important
work to party which is so obligated
TO the highly protected interests that
it postpones relief until after the
election. And we call attention to
the significant fact that the promise
now made by those republicans who
favor tariff revision Is wholly viii
ated by the use OF the very qualify
ing words under which the present
tarif iniquities have grown up.
We favor an immediate revision oi
the tiriif by the reduction Of import
duties. Articles entering into com.
petition with articles controlled by
trusts should he placed upon the free
list; material reductions should be
made in the tarif upon the neces.
saries of life, and reductions should
be made In such other schedules al
may be necessary 10 restore the tariil
to "A revenue basis.
We favor an income tax as part OF
our revenue system, and we urge the
submission OF constitutional amend
ment speci fcally authorizing congress-
to levy and collect tax upon indi-
sidual and corporate incomes, TO tn,
end that wealth may bear its proper
tionate share Of the burdens OF tn,
federal government. We favor ma
tional Inheritance tax 10 reach ths
"swollen fortunes" already In exist
ence, but we believe that IL Is tettel
TO permanently prevent ''swollef
fortunes by abolishing the priv
ileges and favoritism upon which
| they are based.
We assert the right OF congress Il
exercise complete control over inter
state commerce, and we assert th'
right OF each state to exercise just al
complete control over commerce with
in It's borders. We demand such al
enlargement OF the powers OF nation
al and state railway commissions al
may be necessary 10 give full protec
tion to persons and places from dis
elimination and extortioD. We he
lieye that both the nation and tn
various states, should, first. ascer
tain the present value of the rail
roads. measured by the cost OF repro
duction; second. prohibit the issu
OF auy more ~atefed stock or ecti
tious capitalization third. prohib'
the railroads from engaging IN an
business which brings them Int
competition with their shippers: an,
fourth, renucc transportation rate
until they reach point where the
will yield only reasonable return o.
the present value of the roads sue
reasonable return being defined as
return sufficient to keep the stoc
OF the roads at par when such road
are honestly capitalized.
The injury done by issues Of wa
tered stock is m0ie clearly seen an
better understood slnce the sbrinl
age In the market value Of sue
stock has precipitated a widespres
! panic aud brought enormous loss I
the country.
, The panic has also emphasized III
! necessity for legislation protectiu
the wealth producers from spoilatio
at the hands Of the stock gambler
: and the gamblers In farm products.
? The present financial stringent
: furnishes additional proof that II
republican leaders are either unwil
G lug nr incompetent TO protect the Il
: ierests OF the general public. The
3 have 80 linked us TO Wall Street thi
I the sins OF the spectators are visit,
: upon the entire country.
D We favor the postal savings bar
ard, in addition thereto, insist up,
0 the passage Of laws, state aud %
2 tioesl, for the better regulation
: banks aud for the protection OF bar
G ieposits. The government demap
! security when II deposits publ
e money iD bank. and we believe ,b
+ the security Of the individual depc
= itnr WHO intrusts his earnings 10
e bank should be as perfect IS the go
Z ernment's security.
il We oppose both the Aldrich b
4 and the Fowler bill, and believe tina
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