Bisbee daily review., 1908-07-29

pression. This was brought about not only by the enormous expansion of busi- which eouId a, not be readiIy eeSveTted but also by the waste of capital then. eNtravaganee of living. in wars and other catastrophes. The free conYerti- ble capital was exhausted. In addition to this, the confidence of the public in Europe and in this country had been affected by the revelation of irregulari- ties. breach of trust over-issue of stock, violations of law and lack of rigid state or national supervision in the ma na cement of our largest corporations. Investors withheld what loanable capi- tai remained available. It became i'm possible for the soundest railroads and enough for new construction or recon struction.
 WILL DELAY RESPIRATION OF PROSPERITY.
 | Gradually business is acquiring a healthier tone. Gradually wealth. which was hoarded. is coming out 10 be used. Confidence in security of busi- ness investments Is 2 plant of slow growth, and is absolutely necessary in order that our factories may all open again, in order that our unemployed may may again have the presperity which blessed us for ten years. The Identity ' Of the interests of the capitalist and the farmer. the business and the wage earner in the security and profit of in-l sized.
 
 wage earners to farmers and to busi- ness men, whether the introduction in- to power of the Democratic party with Mr Bryan at its head and with the business destruction that it openly ad- vocates as a remedy for present evils. will bring about the needed confidence for the restoration of prosperity. tREPUBLICAN DOC<}INE OF PRO FICTION.
 The Republican doctrine Of protection as definitely announced by the Regu6ii- preyious conventions is that a tarif shall be imposed on all imported pro duets whether of the factory, farm or mine, sufficiently great to equal the diff abroad and at home, and that this diff ference should. of course. include tife difference between the higher wages in this country and the wages paid abroad and embrace reasonable profit to the American production. A system of pro- sductiOn thus adopted and put in force has led to the establishment of a rate of wages here that has greatly enhanced the standard of living of the laboring man It Is the policy of the Republican party permanently to continue that standard of living. In 1897 the Dingley tarin bill was passed under which we have had. as already stated, period Of enormous prosperity.
 NECESSITY FOR REVISION OF TARIFF.
 The consequent material development has greatly changed the conditions Bn- der which many articles Described by 1 the schedules of tho tariff are now produced. the tariff in number of schedules exceeds the difference be- 1 tween the cost Of production of such | articles abroad and at home including & ! reasonable profit to the American pro dUCer. The excess over. that difference serves no useful purpose, but offers a temptation 10 those who would monop- olize the production and the sale of such articles in this country. to profit by the excess rate. On the other hand there are other schedules in which the tariff is not sufficiently high to give the meas ure of protection which they should F,- ceiye upon republican urincfUJes and these tariffs should be increased. \ re- vision of the tariff undertaken upon this principle which is at the base of our present business system, begun promptly upon the incoming of the nesv administration and considered at the special session with the preliminary in yeStgations already begun by the apprO- priate committee of the house and sen ate will make the disturbance to busi- ! tie as possible.
 ! DEMOCRATIC TARIFF PLAN AND ! ITS BAD EFFECT ON BUSINESS CONDITIONS.
 ] The Democratic party in it's platform has not had the courage Of its previous convictions on the subject of the tariff denounced by it in lSoi as a system of robbery of the many for the benefit of the few but it does declare it's inten- ton of changing the tarin with a view to reaching revenue basis and thus
 
 lThe introduction into power of a party with this avOwed purpose cannot but halt the gradual recovery of the more recent financial depression and produce business disaster. compared with which |. our recent panic and depression will seem small indeed.
 THE FARMER AND THE REPUBLI-
 CAN PARTY.
 ] As the Republican platform says, the welfare of the farmer is vital to that Of the whole country. One of Nhe strongest Eaf aTsrHvr fe hoe q On the business which his crops are to afford. He is vitally interested in the restraining Of excessive and unduly discriminating railroad rates, in the en- tOFcement Of the pure food laws in the promotion of scientific agriculture and in Increasing the comforts of coun- try life by the expansion of free rural delivery The policies of the present ad- ministratiOu which have most industri- ally promoted all these objects. cannot fail to commend themselves to his ap- proEal. and 1t is difficult to see how. with his intelligent appreciation of the threat to business prosperity involved in Democratic success at the polls, he can do otherwise than give his full and hearty support to the continuation of the leadership.
 LABOR AND WHAT REPUBLICAN PARTY HAD DONE FOR IT. We come now tO the question of labor. One important phase of the qualities of the present administration has been anxiety to secure for the wage eaFner an equality of opportunity and such positive statutory protection as will place him on a level in dealing with his employer. The Republican party has passed an employers liability law for in- an eight-hour law for Government enn- ployes and on government construction The essence of the reform affected by the former is the abolition of the fellow servant rule, and the introduction of the comparative negligence thereby by when an empIoye injured in the service of his employer does not lose all his rlghts to recover because of slight neg ligence on his part. Then the act pro- Tiding for compensation for injury to government employees, together with the ances upon interstate commerce rail- roads for the protection of their employ es and limiting the hours Of their ern- of the efforts of the Republican party to do justice to the wage earneF Doubtless a more conservative measure ployes will be adopted in the future The principle in such cases has been rec ognized and in necessarily somewhat fully embodiS in ,aia definite w Statutes Ge more INTEREST OF EMPLOYER AND EM-
 PLOYES ONLY DIFFER IN RE
 sPEcT TO TERMS OF EAI-
 PLOYMENT
 The interest of the employer and en- ployes never differs except when it comes to a division of the joint profits of labor and capital into dividends and wages This must be a constant source of periodical discussion between the eFn- ployer and employees, as indeed are the terms of the employment.
 1 ADVANTAGE OF UNION. To give to employees their proper posi- ton in such controversy to enable them to maintain themselves against employ CTS having great capital, they may well unite. for in unity there Is strength and without 1t each individual labOrer and employe viii be helpless. The promotion