The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1909-09-15

| VeISdtlonS OF Nr. Aldrich. chairman OF
the monetary commission and OF the
finance committee OF the senate that
the Idea Of the monetary commission
Is for some sort of arrangement for
a central bank OF issue which shall
control the reserve and exercise n
power TO meet and control the casual
stringency which from time to time
Will come In the circulating medium
| OF the country and the world .
Free From Wall Street.
Mr.. Aidrich states tdat there are
| Two indispensable requirements in any
plan involving a central bank OF Is
| sue. The one Is that the control OF tho
/ monetary system shall be kept free
| from Wall street In the first place.
and the other that II shall not be
manipulated Tor political purposes.
i These are two principles 20 which We
, can all subscribe ii Is quite possible
that the report OF definite decision
, may be delayed beyond tho next con
gress. Meantime. the members OF the
commission intend TO institute cam
paien OF education 10 arouse public
opinion 10 the necessity OF a change
In our monetary and banking system
and TO the advantages that VII arise
from placing some form of contro!
over the money market and the re-
serve in the hands OF an intelligent
body OF financiers responsible to the
government
II am told that Mr.. Aldrich will
swing around the circle this fall and
Will lecture In many of the cities OF
the middle west on the defects and
| nT
cannot too strongly approve OF this
| proposal, Mr. Aldrich. who is the
leader of the senate and certainly one
| of the ablest statesmen in financial
matters in either house. has been re-
| garded with deep suspicion BY many
people. especially In the west. IT,.
With his clear cut ideas and simple.
but effective style of speaking he
makes apparent to the western peojle
what | believe to be his earnest desire
to aid the people. and TO crown his
political career by the preparation
and passage OF a bill which shall give
us a sound and safe monetary and
banking system It would be a long
step toward removing the political
obstacles TO a proper solution of the
question.
Tariff on Journey.
Il am not going 10 discuss the mer-
Its and demerIts of the new tariff
bill with Won. | shall have Otter TO
refer to that before my journey Is
ended and | must save something for
other audiences. Suffice 1t TO say,
that the passage OF the bill has re-
moved a disturbing element In bus
mess
Nor shall dwell at length on
the necessity for amendments TO the
interstate commerce laws. TO the anti
trust law and the organizations OF the
department in Washington with view
TO promoting greater efficiency and
expedition in the settlement of con-
troversies arising under them. Dur
ing Mr. Roosevelts administration
we we're all struck With the necessity
of reform IN business methods for
more scrupulous attention TO the con"
duct OF business iu accordance with
the law and for the necessity of sim
plifying the law so as 10 make il clear
to corporate managers what they can
do and what they can not do
I'VE are, | believe. on the eve oil
another great business expansion, an
area. OF prosperity. Indeed II is al
ready here In many branches Of busi-
ness. The hum OF prosperity and the
ecstacy OF great profits are likely to
dull interest in these reforms and to
lead us back again TO the old abuses
| unless we insist upon legislation
which shall cllnch those standards by
| positive laws. Nothing revolutionary
nothing disturbing to legitimate bus
mess is needed. but We must set the
marks clear In the statutes by which
the lines can be drawn and the prop
er legitimate paths be laid down up
on which all business shall procee"
and must have It understood by
means of prompt prosecution and pun
ishment that the law is for all and Is
10 be enforced even against the most
powerful.
Need of Conservation.
"Then too, the needs in respect 10
conserving our national resources, the
amendment to the public land system
the execution OF the pure food law,
and other important matters thai
should demand attention, make the en-
ecutive and Legislative labor oil the
next three years heavy enough, II our
purposes are carried out, TO eXhause
the energy of the most enthusiastic
and hopeful.
Still the world is making progress
our country is making progress. Oc'
casionally one hears a note Ike that
OF Governor Johnson, denouncing the
east and calling upon the west 10 or
ganizc In a sectional way against the
east because the east is deriving
more benefit from the governmental
policy than the west and at the eN-
pense or the west.
ut Is difficult for one to treat such
an appeal seriously. Throughout this
country there is free trade OF the
freest character and on account of this
the prosperity of the west. especially
the agricultural west is even more
pronounced than that OF the cast.
Moreover, the east is too close to the
Pacific coast too close to the middle
west too close to the Rocky noun
tains. because all the people of these
western stretches have eastern an
cestry and eastern connections. and
because they have eastern capital
with which their sections have been
largely built up and because they are
too much assisted by eastern markets
in prices which their products bring.
to make such an attempt at section
alIsm successful.
All In Same Boat.
1T is true that al times public ques-
tions will be given a local color by
what is thought 10 be local benefit.
as distinguished from the general and
the national benefit But such atti-