davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1909-06-14
CONTROL OF CORPORATIONS OVER
SHADOWS TARIFF WITH
PRESIDENT.
By John SNURE.

The war now or ia the Senate over
the tariff is not circumstance com
pared to the fighting of next winter
when the question of control OF corpor-
atoms comes up. and along with it the
question of further railroad legislation.
This, at least, is the announcement
of Senators who are keeping a close
eye on the legislative prospects and on
the attitude Of President Taft.
president Taft kGs not seen fit to
take a hand thus far in the tariff fight"
said a prominent Senator who is in
close touch with the White House. He
has not chosen to interfere. and though
he viii doubtless be heard from when
the bill is in conference, he does not
desire to 90 10 the point of getting in
a row with the leaders over tariff re-
vision. This is for the reason that he
believes there are more important ques-
tions ahead for his Administration than
the subject Of revising the tariff.
These questions relate to corporation
control. He is anxious that his Admin
istration shall be signalized by compre-
hensive legislation touching that ques-
ton in all its phases. including indus
trial and railroad corporations. I have
wants, or would be the more apt to Sc
cure the corporation legislation he
wants. or would be the more apt to Sc
cure il, if he kept en- good terms with
the Senate leaders.
Parting o. Ways.
This Senator added that in his judg-
ment President Taft was mistaken. and
that he would find when he set out seri-
ously to get corporation control legisIa-
ton through that he would have TO
part ways with the Senate leaders; not
only that he would have to part com
pany with them. but that he would find
them arrayed in absolute antagonism to
him. He declared t was out of the
question to expect Senator Aldrich and
| his forces TO support the program
President Taft hopes to see put through,
and that sooner or later there viii be
a collision between the Congress lead
ers and President Taft that viii be
just as violent, if not as spectacular,
as some of the collisions between Roose-
Welt and Congress.
President Taft Is tust as anxious 10
bring about adequate Government con-
troll of the great corporations as his
/ predecessor was. Broadly speaking. he
IS emphatically for the so-called Roose-
welt policies regarding Government con-
/ troll Of the great interstate corporations,
/ industrial and railroad. And, with his
/ clear h oWIedge Of law, he has pretty
clear ideas how this problem should be
worked out. ana he intends, if he can.
/ to have IL worked out in his Admins
! tration.
The Washington times., 1909-06-14
PROGRESSIVE ANARCHY IN
PERSIAN EMPIRE.

& was announced a few days ago, in
the cable dispatches, that the British
and Russian governments had agreed
upon an arrangement for their Joint
suzerainty over Persia. The British
government emitted a qualified denial
which was promptly discounted, and in
Germany the belief continues strong
that some such arrangement, If not
perfected, is under serious eonsidera
ton.
Altogether aside from the political as
poets as affecting the relations of Euro
pean nations. the arrangement ought to
be made. Persia has proved its hopeless
ness for anything approximating TO
parliamentary government, at least
unless that government be overshadow-
ed by the hand OF an outside power.
The anarchy which has prevailed in the
ancient empire for several years past
has been pitiable. The outside world
has learned just enough about it to
know that il is 8 condition threaten
ing the whole organization Of society.
Britain and Russia are vitality con
ceIned in the maintenance Of order in
Persia. because il is buffer state be-
tween their Asian frontiers. It may
The Washington times., 1909-06-14
ELEMENTS IN THE GREATER
COST OF LIVING.

The year which ended June l wit
messed an average increase of ST per
cent in the general cost of living in
this country, so nearly as that may be
reduced to averages of figures. 1t was
a year in which, under all the circum-
stances, a reduction rather than an in
crease might have fairly beer expected.
There is every reason to expect that It
viii continue to increase, for business
revival Is afoot everywhere, ard the
European political outlook is such as to
inspire grave fears for the peace of the
world. The output OF gold grows
apaee, AID all the economists-the same
economists who a few years ago sol
EMMY demolished the cumulative
theory of relation between money and
prices-are now agreed that more gold
makes higher prices.
Still one more element has been de
veloped very recently which adds to
the probability of continuing increase.
China is not going to adopt the gold
standard, from all indications. Had
she done so, her demand Tor the yellow
metal would in al probability have alb
sorbed for long time the excess in the
gold supply over normal demands and
consumption. The nations OF western
Europe and the United States were
anxious that China should adopt gold,
and the commissions of Chinese econ
omists who investigated conditions in
Japan, Europe, and the United States.
all reported, according to advices from
Peking, in favor of the gold basis. But
the conservatives in control of the i'm
periaI government feared to take so
radical a step, and so, unless under
foreign influence there shall be another
change of attitude, China is more likely
to continue on the silver basis, but to
make it an actual rather than theo-
retiesl silver basis. This viii vastly
improve Chinese conditions, but It will
not have the general effect which great
purchases of gold for Chinese account
would have had.
Under ordinary conditions there
would be no fears of an era of con
tinued rising prices. Rising prices are
the incident and accompaniment of
prosperity But it is always true that
wages fall first in an era of contract
ing prices, and rise last in an epoch of
expanding prices. Therefore the wage
earning and salary earning classes and
people with fixed incomes have need to
view with concern the tendencies Of
the times. Inevitably, the disposition
vii be to speculation and extravaganza
and promotion and exploitation, out OF
which the few great operators viii ac-
cumulate speculative fortunes, and the
aggregaCions of wealth already organ
lied viii strengthen their hold on the
unjustly large proportion OF the pro
ceeds of industry; but the masses of
people viii be subjected to the increas-
ing burdens without the immediate
benefits OF expanding eompensations.
The Washington times., 1909-06-14
INQUIRY IS ORDERED
INTO SMITHS DEATH
Newark Man May Not Have Died
From Epilepsy, Says
Coroner.

NEW YORK, June 14.-Coroner Acri-
tell has ordered an investigation into
the death Of Thomas Smith. thirty-nine
years old, clerk. who died in Bellevue
Hospital this morning.
The Newark. n. j., authorities, have
been searching for Smith for a week.
as he had been reported missing from
his home there.
The cause Of Smiths death is given
as epilepsy. but he had sufferac a severe
wound on the head. He was taken to
Bellevue from Hudson Street Hospital
on June s. The Hudson street ambu-
lance had taken him on a call from in
front of 81 Cortland street, where he lay
or the sidewalk
The police reported that Smith had
fallen and injured himself while intox-
icated, but the Hudson Street Hospital
physicians deny that he had been drink
ing.
The Washington times., 1909-06-14

If President Taft at the end of this
Administration can look back and see
the strong public sentiment for adequate
corporation control wrought out into
enduring legislation, he win be well
satisfied. He wants to have it said
that his Administra ion has done great
constructive work along this line
Already, the President is moving in
this matter. he is talking with Sen
atOrs and members of the House about
it. He is getting the ideas of the best
lawyers in Congress as to how control
should be accomplished. Between NJ "
and next fall. there viii be many con-
ferences between tEe President and
various leaders in Congress, between
the President and the Attorney General,
as well as the best lawyers of his Cabi-
net; and between Attorney General
Wickersham and men in Congress who
are eager to take a leading part in push
ing, the movement for corporation con-
When the Presidents message is sent
TO Congress next December, IL will be
FOUND that the subject of control of
corporations forms its piece de re-
sistance. K viii be the big feature of
the message It is impossible to tell
whether there viii be legislation to see
now now Congress can escape It. More
over, II IS impossible to see how the
President can hold aloof from the con-
troyersy that will rage around this
topic the coming winter.
Federal Licensing.
Some system of Government control
of the capitalization of railroads is like
ly to be worked out at the next session.
strong effort to give the Interstate
Commerce Commission the authority 70
make railroad valuations when neces-
saTy will be made.
When 1t comes to Industrial corpora
tons, it is too early to say what the
Administration will advocate, but il is
expected 10 be some system of Federal
licensing or Federal Incorporation, along
with which will run Federal control
over capitalization, security issues, and
will certain lines the control of con-
duct o. business.
Tha- is, any system of Federal con-
troll VIII have TO be dtsgned to pre-
vent those evils which grow out of
monopoly and attempted monopoly
and those practices which are charg-
ed to some of the great interstate
corporations. Along with these things
may go legislation either charging
the Interstate Commerce Commission
or transferring its administrative
functions 20 another bureau and leg
isiation which win affect the Bureau
of Corporations.
An effort is talked of to wipe that
bureau out of existence as IL is now
constituted. but Congress will look
long and carefully over any scheme
of that sort that does not propose
omething materially better in its
stead,
The Washington times., 1909-06-14
AUTO HITS BUGGY,
DRIVER INJURED
Joy Riders" Continue on Wild
Course, Apparently Ignorant
of Accident.

HACKENSACK. \. J. June 14-sam-
uel Brown, q public service wire In
spector. was seriously injured last night
when party of Joy riders" crashed
into the rear OF a buggy which he was
driving at Ridgefeld
The automobile struck with such force
that George Brewer. who sat in the
tonneau, was hurled 20 the road. The
chauffeur did not know that one Of his
party had left the car, and. after hit
ting Browns rig, ne continued On his
wild course.
Brewer was compelled 10 tell the
names Of his companions. The autouo-
bile belongs 10 George Dew. Brown.
who conducts garage IN Passaic. All
the members of the party win be ar
rested.
The Washington times., 1909-06-14

quite realize that the silver fight is
really over In the occidental countries,
with a verdict in favor of gold. The
Chinese money system is only nOminally
or silver basis; millions of people
never see silver coin, the actual mint
age being mainly OF bronze and cop
per, and greatly debased.
The governments plan Is understood
TO be adoption of the silver standard,
making the tael with about so cents
worth Of silver in it, the basis. China
mas BEEN buying vast quantities Of sill
yer Tor some time IN anticipation of this
great coinage Of the white metal ITS
mints have taken practically all lhe
silver that has gone out from London
for some months. The nineteen pro-
vincial minis have all been taken over
Dy the imperial government ii was ex-
pected that in May of this year these
would be started coming the new taeIs,
b1-t no word has been received that this
has started, and there is fear that the
whole project Of money reform may
have been held up By reason of some
Of the developments following the death
OF the Emperor and the Dowager. IL
is reported also that there is stiu in
decision whether the new money shall
be. put out, based on the silver or the
gold standard.
Long Campaign
The Chinese authorities have planned
long and careful campaign in order
TO put themselves on the new basis,
whether it be gold or silver. 1t Is
recognized that whether the yellow or
the white metal be the basis, the money
actually circulated viii be mainly silver
or paper. In order to secure the i'm
mense stores Of bullion necessary. a
scheme OF increased imperial taxation
has been planned. The provincial bank
ers have agreed to provide the means,
taking liens on the revenues for that
period with which to buy the bullion.
Many hundreds of millions of ounces
Of silver would be required to carry
out this ambitious project. It Is stated
that the coinage win include fractional
parts of the tael down to a piece OF
approximately the value of our nickel.
ali in silver OF this last named piece
no less thar 26.00o, ugS. 900 are contem-
plated when the coinage project IS
worked out.
Under the influence of these Chinese
developments silver has been steadily
mounting upward in price for months
past. India is also demanding more
silver than formerly for its minis,
while the reversion in Europe toward
the idea Of larger use OF silver
based Of course on gold Standardized
accounts for an Increased absorption.
Producers of silver anticipate greater
pronts in the coming decade than in the
last generation, with pretty steadily
rising values.
The Washington times., 1909-06-14
DEFENSE SAYS JUROR
HURRIED TO BE WE'D
New Trial Asked in Murder Case
on Peculiar
Claim.

WEST CHESTER. Pa, June a.
Among the reasons presented to the
Chester county c,Hrt IN the motion for
a new trial for San ChogWisi<i, con-
victed of the murier of Harry Il. James,
a farmer. in January last, was this:
THE time of tie marriage or wedding
of one of the jurymen in the case was
fixed at a time only two days after the
day on which the verdict was agreed
upon, so that the said jurymaE anx-
iety to be relieved from the jury as soon
as possible in order to complete prepa-
rations for his wedding. so near at
hand, would necessarily render him IN
able to act properly as juror
The Washington times., 1909-06-14
NO GOLD STANDARD FOR CHINA;
INCREASED VINTAGE OF
SILVER LOOKED FOR.

Silver producers of the United States
and Mexico are watching with deep
concern the developing plans Of the
Chinese imperial government to enter
upon a ten-year program OF silver min
tage at a rate which is expected to
boom the production and the price of
silver all over the world. IL is believed
here that the imperial authorities have
about decided agar.st the effort to
place the money Of China on a gold
basis at this tine. IN this point there
seems to have been a sharp difference
Of opinion among the Chinese author
ities themselves.
About the time of the death of the
Emperor and Empress Dowager. a
commission Of fnanciers came to Wash
ington, and at the same time visited the
financial centers Of this country, with
the view of gathering information to
guide the home government In its
monetary reforms. Like commissions
were sent TO Europe and Japan for
similar Investigators.
All three of these commissions, IT is
stated, recommended that the gold
standard he adopted; and tie American
and European governments are SAID 90
have given the same counsel But the
officials in China have hesitated to make
so great a change. They doubt whether
it is practical Or wise. Hence the dis
position to cling TO the silver standard
and to buy UP a stock of metal sufficient
to supply the empire either with coin or
with a paper currency based on hoard
ed silver. exs city as the American GER
tificates are circulated The Chinese
board Of finance in discussing this Ques-
ton, recently reported;
What Chinese Think
In conforming to the standard Of
money used by our ancestors for up
ward Of 400 years. we do so gladly. IN
the light OF all that has been revealed
ia recent years Of the Gripping effect
Of the single gold standard upon sew
eral European nations and the United
States. which is made evident TO US by
the numerous societies of European
merchants who are demanding Of their
governments an enlarged use of silver,
and the report adopted by the imperial
German government based upon the
petition of the greatest banking and
commercial interests a. that empire,
which want more silver injected into
the currency of that nation
From which Il Is gathered here that
the Chinese home authorities DO not
The Washington times., 1909-06-14
18TH CAVALRY BAND CON-
CERT In FRANKLIN PARK
Tbs EVENING AT 7.so O'CLOCK
6sorge F. Tyrreu, Director.
PROGRAM

March. High School Cadets" sousa
(By request)
Overture. Raymond" 1T Thomas
Waltz, Red, White. and Blue" ..-.-
Tobani
Floral Suite A. Roses ...... Bendix
.Fackeltanz' in B fat. Meyerbeer
(a) Mexican dance, ''Horas de
Melancolia"
Cb) Italian song. La Goiondrinia'
Serradell
Selection. 1T Happened in Nord-
iahu --..-----.----- -----. tteroert
March. Under the Double Eagle,
Wagner
THE Star-spangled Banner"
The Washington times., 1909-06-14
MUST SUIT AL TASTES.

MY wife wonders why the papers
waste so much space on mere news.
What does she read2'
oh she reads the weather probable
itfes. the bargain probabilities, the
marriage notices and the love story.
But an tier, about a big battle OF the
falI of a dynasty looks piffling TO her
louisville Courier-Journal.
The Washington times., 1909-06-14
PROGRAM

March-"Grandioso'' ............. seitz
Overture-"Mm OF The Cliff 49,.
Reissiger
Ballet music from La Refine de
saba" .............--...... .Gounod
Grand selection Mariana" .....
Wallace
Gavotte-" Wedding Bells" .Rlmmer
Bell solo by Mr. Jacob.
Medley Of popular songs-Remicss
Hits No s.. l...................L ampe
.Caprieho Espanol-'.M oraima"
Espinosa
Finale-"The Enterprise" Lampe
The Washington times., 1909-06-14

A great nation mourns at the bier OF
a preacher and teacher who never made
or cared TO make money. Another ma
ton Kisses at the funeral magnihcence
Of a millionaire shopkeeper, to
whom money meant only qualification
of vanity And still the making Of
money is the hrst thought of almost
every body.
The Washington times., 1909-06-14
METROPOLITAN JOYS.

Il hear that PiUnkv1lle Is to have six
oil lamps.
Yes, indeed. People are already be-
ginning TO allude to Main street as the
gay Waite way."-kansas City Journal.
The Washington times., 1909-06-14
What Congress Did
IN TdE SENATE.

The nomination of K. Dana Durand as
director Of the census vas confirmed.
Luther Conan. Jr., was confirmed as
deputy commissioner Of corporations
The Philippine free trade amendment to
the tariff BIZ v as taken up.
Senator Brist - declared the effect Of
free sugar from the Philippines would
be to give great avor 10 the Sugar
trust, but not TO give cheaper sugar
to the American people.
The Washington times., 1909-06-14
cold Green Vest /"

Senator Jonathan Bourne Of Oregon
is now fully identified as member OF
the Presidents golf cabinet He fire.
ouently plays in the foursomes made
up By Mr.. Taft, This carries out the
promise the President made at Augusta.
Ga. last winter. At that time he told
Bourne:
7 want you to be d member Of my
cabinet. l will make you the secretary
Of golf That is the portfolio I want
you to hold"
When the President is in a jovial
humor, he calls Bourne old Green
Vest" referring TO the Senator's liking
for green vests, whea he is playing
golf.
The Washington times., 1909-06-14
IN THE HOUSE.

TIE House met at u O'Clock.
A resolution calling for investigation
of an Indian agent in the West was
adopted.
The House adjourned at 1919.
The next session of the House Will be
on Thursday.
The Washington times., 1909-06-14
A BLUFFING CASE.

The suit case made a daring bluff,
And chip on chip the bid would raise
How coaId he know that sure enough
The big trunk held -four trays2
Stanford Chaparral.
The Washington times., 1909-06-14

Commandant at West Point wants the
number of cadets increased. So do sew
eral million young men who believe they
would make great military men.
The Washington times., 1909-06-14

New Jersey man who claimed he was
the rightful king of England has Just
died. That will doubtless make King
Ed feel more comfortable, for who
could be sure that a Jerseynan wouldn't
find a way. az der the Incorporation laws
Of that state, to organize himself into
the 5ob2
The Washington times., 1909-06-14

Persons leaving the city for
long or short period during the
summer can have The Times MALL
ed u tNem at the rate of thirty
ceBts month or seven cents a
weeA. Addresses may be changed
as desired. All mail subscriptions
must be paid In advance.
The Washington times., 1909-06-14

The French may want Ambassador
White to remain in Paris, but all their
interest viii hardly serve TO undo that
snub which Mr.. White as youthful
secretary Of embassy once administered
10 Mr.. Taft, when young lawyer trav-
cling in Europe.
The Washington times., 1909-06-14

IN case the grounding doesn't see his
shadow during the first ten days IL
Juz.e, it's a sign of rainy weather.
The Washington times., 1909-06-14
THE OLDEST BANK IN NEW
YORK.

The oldest bank IN New York, and
the second oldest in the country, cele-
brated its l25th anniversary last week.
1t is the so-called Bank of New York.
its corporate title being the Bank of
New York National Banking Associa-
ton. Formed before the Constitution
of the United States was adopted, it
was at one time more powerful insti
tuition in many ways than the United
States bank, the central Governmental
institution which Hamilton founded.
Hamilton was its patron and support
er, to the extent, indeed, that there was
whispering Of something like scandal
| in reference to his interest in it and to
its willingness to serve even his polit-
ieal ends in its business transactions.
Tt was declared that when Hamilton
was Secretary of the Treasury this
bank scrutinizedi very closely the pol
itics of people who asked discounts, and
if they were not friendly to the Secre-
tary, they were liable to be refused ac-
commodations. The institution from
the beginning down to civil war times
was repeatedly used as an important
financial engine by the Government;
its support and purchases Of the bonds
of the new Federal Government first
placed those securities above par.
In all the years of its long history
the institution has failed but once to
paw dividend, and that was in the
panic year of 1897, when it would prob
ably have paid as usual but that the
New York Legislature by special act
forbade any bank dividends. This in
stitution was for time a State bank,
again a private Institution, and finally
was one of the first institutions to take
out a national banking charter. Both
Hamilton and Burr were among its
charter shareholders
The one. institution in the United
States older than this venerable New
York bank is the Bank of North Amer
lea, of Philadelphia, which is three
years older. When these institutions
were founded Philadelphia was the
metropolis of the country.
The Bank Of New York was organ
lied by merchants of the city, who
realized the need Of a powerful insti-
tuition, and whose expanding trade,
especially by sea, had already inspired
them with the belief that their city
was destined to outstrip Philadelphia
and be the greatest in the country.
Yet even for such purpose, and with
the enterprising business men united in
the movement, it was impossible to
float the entire capital stock of 500,
! COO The first plan was to have this
paid up one-third in specie, the rest
in good securities. But there was OBJ
lection to the plan, and a bank of
! 100000 capital, fully paid up in
specie, was substituted; and only about
60 per cent of this was actually paid
up when the bank began business.
The Washington times., 1909-06-14

These prophets who think the Senate
will dispose Of the maximum and mini
mum provisions of the tariff bill in a
day and a half are figuring on the mini
mum rather than the maximum
The Washington times., 1909-06-14

What is 50 rarely sunshiny as a day
IN June2
The Washington times., 1909-06-14

A mushroom weighing thirty-three
pounds has been found at Pittsburg. In
any other place. that would be quite a
mushroom, but when one calculates the
fnmePsity Of some of the Pittsburg
mushrooms OF enterprise it doesn't seem
so big.
The Washington times., 1909-06-14

Congress is a good friend to have. It
stin sticks to the Sugar trust.
The Washington times., 1909-06-14

Democratic Senators indicate that they
don't consider themselves obligated 10
take any more seriously the pledges of
their party n its platform, than do the
Republican Senators.