The Topeka state journal., 1909-03-12
FROM OTHER PENS
BUILDING ON SOLID GROUND.

/ Now the opportunity is being pre-
sented to start more nearly from the
ground, and it must accordingly be
said that the situation is today more
favorable for solid and large improve
ment in business affairs than it was
a week ago. The. stock market had
| reached an artifcially high position
which was being maintained in the
/ basic steel and various other indus
| tries. If this was not actually known
J to be the case as the stock market
1 appeared week after week to be peg
| ged' to the high post-election level,
| 1t was felt by most observers to be
| the case. and the event proves the ac-
| curacy of this intuitive Judgment.
| Prices in steel and copper. and so in
| stocks, are now Where people can
build upon them for. the future with
| a large degree of assurance. No mat
| ter what may be done with the tariff
the very worst is being largely dis
counted in the present slump The
opportunity is now being offered to
start from the bottom instead of from
near the top. Natural in place of ar
tfficial conditions are more prevalent.
The country is not going to the dogs
but is being more squarely headed in
the right direction than it was before.
The continued Extraordinary gold pro-
duction prevents the possibility of so
extensive and persistent a fall in COM
modify prices as followed the panic
of 1898. General crop failure is prac-
tically out of the question, as long eX-
perience has shown for country of so
wide extent, so large an assortment of
climate and so great a variety of farm
oduction.-Springfield Republican.
o
DANGER IN ENDoWMENTs?
During his recent visit to this coun-
try, Guglielmo Ferrero. the Italian his
torian, expressed amazement that
American millionaires were permitted
to so largely endow our institutions of
=. I1r,, H. Il
that the "p1utocrat" was allowed to
found and support universities and
make of them vast establishments
wherein the youth of the nation ac-
quire it's ideals.
The italian referred to the fact that
Mfr. Rockefeller, who has given $35,000,-
600 to the University of Chicago, does
not interfere In any wise in the man
agement, does not dictate the profess
sors who shall lecture nor the cur
riculum that shall be followed; but he
quails to think to what base uses some
successor to Mr.. Rockefeller's millions
might put the power thus gained. Dan
ger lurked, he thought, in the ideals
that might then be set before the youth
of America
That there is a germ of truth in his
warning cannot be gainsaid. It is pos
sible for q millionaire to exercise vast
influence over the institution he equips
American common sense, however, will
operate as a restraining influence. Our
educational ideals are high enough, in
general to withstand any evil inf1u-
ence. that may come through large do
nations. Likewise the danger of a pos
sible attempt on the part of the DON
ors to exercise such influence is not
apparent.-Pittsburg Post.
A MODIFIED TwO-POWER STAND
ARD.
1t is reported that. for computing the
size of the fleet in accordance with the
standard, the British cabinet
will no longer reckon with the navy or
the United States. The growth of the
American navy, together with the de-
the two English-speaking nations, rails
ed this question some while ago. Senti-
ment and the state of British finances
have combined to favor the elimination
of the feet of the United States from
the calculation. Although it was pro-
tested that the theory of the two-power
standard does not contemplate as an
essential feature the probability of war
with any power, the fact is that the
standard has usually represented
match for a possible combination of
two certain sea powers against Great
Britain.
Russia and France, for example, were
the two powers which Great Britain |
contemplated in its naval estimates up
to a recent period. Today the theory |
considers Germany's attitude /
as well as the size of her fleet, though |
no second power is plainly to be indi-
Gated except in respect of naval strength, |
Considering the recent reahgnment of
European ententes, it may strike thrifty
British statesmen that. if the historic |
theory of amy two other powers is to
be abandoned in favor of two possible |
enemies, expense will be saved by build /
ing against Germany alone.-Provi-
1ence Journal