Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-28


ton Of their business shall be brought
within the law. To destroy them and to
eliminate the wealth they represent from
the producing capital Of the country
would entail enormous loss. and would
throw out OF employment myriads Of
q result Is wholly unnecessary to the &C.
complishment Of the needed reform. and
will inhict upon the innocent far greater
punishment than upon the guilty.
Policy Of Democratic Platform.
1.-THE democratic platform does not pro-
pose TO destroy the plants of the trusts
physically. but 1t proposes to do the same
thing In q different way. The business Of
this country is largely dependent on
protective system Of tariffs. The bust
ness done by many of the so-called
trusts 10 protected with the other bust
nesses OF the country. The democratic
platform proposes to take OF the tariff
In all articles coming into competition
trusts and to put them on the free list.
II such a course would be utterly de-
structive Of their business. as IL intended,
It would not only destroy the trusts, but
ell Of their smaller competitors. The
ruthless and impracticable character Of
the proposition grows palmer as its eff
fects upon the whole community are re-
ali1ed.
Panic Of Last Fall.
ITO take the course suggested by the
democratic platform in these matters is to
involve the entire community. innocent as
It IL. in the punishment OF the guilty.
while our policy is to stamp out the spe-
ciic evil This difference between the
policies Of the two great parties IL OF es-
pecial importance in view OF the present
1T h,s0i wears
Of the most remarkable material Develop
ment and prosperity. there came finan-
cial Stringency, a panic and an Industrial
depression This was brought about not
only by the enormous expansion Of bust
ness plants and business investments
which could not be readily converted. but
also by the waste Of capital, in extrava-
gance Of living, In wars and other catas-
trophies. The free convertible capital was
exhausted. In addition to this, the conf
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
supervision in the management Of our
largest corporations Investors withheld
what loanable capital remained available.
1t became impossible for the soundest
railroads and other enterprises to borrow
money enough for new construction or re-
construction.
Restoration Of Prosperity.
Gradually business is acquiring a
healthier tone. Gradually all wealth
which was boarded is coming out to be
used. Confidence in security of business
investments Is q plant of slow growth
and is absolutely necessary in order that
our factories may all open again. in order
that our unemployed may become en-
ployed. and In order that we may again
have the prosperity which blessed us for
ten years. The identity OF the interests
Of the capitalist, the farmer. the business
man and the wage Garner In the security
and profit of investments cannot be too
greatly emphasized. submit to those most
interested, to wage earners, to farmers and
to business men, whether the Introduction
into power of the democratic party. with
ness destruction that It openly advocates
as q remedy for present evils. will bring
about the needed confidence for the res
toration OF prosperity.
Doctrine Of Protection.
1.-The republican doctrine Of protection.
as definitely announced by the republican
convention of this year and by previous
conventions. Is that tariff shall be i'm
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 paid in this country and the wages
paid abroad and embrace a reasonable
profit to the American producer. A sys-
tenn Of protection thus adopted and put
in force has led to the establishment Of
rate of wages here that has greatly
enhanced the standard Of living of the
laboring man. It Is the policy Of the re-
publican party permanently to continue
that standard Of living. In 1897 the Ding
ley tariff bill was passed. under which We
have had, as already said, period OF
enormous prosperity.
Necessity for Revision Of Tariff.
1.-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 Of 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 a temptation to those who
would monopolize the production and
sale Of such articles in this country to
profit by the excessive rate. On the other
hand, there are some few other sched-
ules in which the tariff is not sufficiently
high to give the measure Of protection
which they should receive upon republic
an principles, and as to those the tariff
should be raised. A revision Of the tariff
undertaken upon this principle. which is
at the basis Of our present business sys-
tenn. begun promptly upon the incoming
Of the new administration and considered
at q special session with the preliminary
Investigations already begun by the APP
propriate committees of the House and
Senate, will make tho disturbance of
business incident to such q change as
little as possible.
Democratic Tariff Plan.
1.-THE democratic party in its platform
has not had the courage Of it's previous
on the subject Of the tariff,
by it in 1904 as a system Of the
robbery Of the many for the benefit Of the
few. but 1t does declare its intention to
change the tariff with a view to reaching
a revenue basis and thus to depart from
the protective system. The introduction
into power Of q party with this avowed
purpose cannot but halt the gradual re-
covery from our recent financial depres-
sion and produce business disaster COM
pared with which our recent panic and
depression will seem small indeed.
Farmer and Republican Party.
LAS the republican platform says. the
welfare Of the farmer is vital to that of
the whole country. One of the strongest
hopes Of returning prosperity is based on
the business which his crops are to afford.
He is vitality interested in the restraining
~ nvrsasive and undulv discrimi ina ting