Gilpin observer., 1910-09-01

has substantially failed. The way out
lies not in attempting to prevent such
combinations. but In completely controll-
ing them in the interest of the public well
fare. For that purpose the Federal Bu-
reau of Corporations Is an agency of the
first Importance. It's power and there
fore its efficiency, az we'll as that of tho
Interstate Commerce Commission, should
be largely increased. We have a right to
expect from the Bureau OF Corporations
and from the Interstate Commerce Com
mission a very high grade of public serv-
ice We should be as sure OF the proper
conduct OF Interstate railways and the
proper management of interstate busi-
ness as we are now sure OF the conduct
and management of the National banks
and we should have as effective super
vision in one case as in the other. The
Hepburn act. and the amendment to that
act In tho shape in which It finally passed
congress at the last session. represent a
long step in advance and We must 20 yet
further.
There 10 = widespread belief among
our people that, under the methods of
making tariffs which have hitherto OBJ
tanned the special interests are too in
fuential. Probably this Is true of both
the big interests and the little interests
These methods have put premium on
relfshness. and naturally the selfish big
interests have gotten more than the sell
fish small interests. The duty of congress
is to provide q method by which the in
terest of the whole people shall be all
that receives consideration. To this end
there must be an expert tariff commits
sion, wholly removed from the possibility
of political pressure or of improper bust
ness influence. Such a commission can
hnd out the real difference between cost
Of production. which is mainly the differ
ence of labor cost here and abroad. As
fast its recommendations are made. /
believe in revising one schedule at a time.
general revision of the tar1f almost In
evitably leads to log-rolling. and the sub
ordination of the general public interest
to local and special interests.
The absence of effective state. and
especially National, restraint upon unfair
money-getting has tended to create
small class of enormously wealthy and
economically powerful men. whose chief
object is to hold and increase their power.
The prime need is to change the condi-
tons which enable these men to accumu-
late power which 1t Ia not for the general
welfare that they should hold or exercise.
We grudge no man a fortune which rep
reserts his own power and sagacity. when
exercised with entire regard to the well
fare of his fellows. But the fortune must
be honorably obtained and we'll used. II
is not even enough that 1t should have
been gained without doing damage to the
community. We should permit It to be
gained only so long as the gaining rep
resents benefit to the community. This.
1 know. implies policy of "a far more
active governmental interference with so
cial and economic conditions in this coun-
try than we have yet had. but think we
have got to face the fact that such an
increase in governmental control 10 now
| necessary.
Income and Inheritance Taxes.
No man should receive a dollar unless
that dollar has been fairly earned. Every
dollar received should represent a dollars
| worth of service rendered. The really
big fortune. the swollen fortune. by the
mere fact of its size. acquires qualities
which differentiate 1t in kind as we'll as
in degree from what is possessed by men
of relatively small means. Therefore l
believe in a graduated income tax on big
fortunes, and in another tax which is far
more easily collected and far more ef-
fective-a graduated inheritance tax on
big fortunes properly safeguarded
against evasion. and increasing rapidly
in amount with the size of the estate.
The people of the United States suffer
from periodical financial panics to a de-
| gree substantially unknown among the
other nations which approach us in finan-
| cial strength. There is no reason we
| should suffer what they escape. 1t is of
| profound Importance that our financial
| system should be promptly investigated.
and thoroughly and effectively re-
vised as to make 1t certain that hereafter
cal times to meet our needs.
1t is hardly necessary for rne to repeat
that I believe. in efficient army and
navy large enough to secure for us
abroad that respect which Is the surest
guarantee of peace Justice and fair deal
ing among nations rest on principles
Identical with those which control Justice
and fair dealing among the individuals of
which nations are composed: with the
vital exception that each nation must do
ita rfi inf
National friendships. like those between
men, must be founded on respect as well
as on liking. on forbearance as well as
upon trust. In all this II is peculiarly the
duty of the United States to set good
example.
OF conservation I shall speak more at
length elsewhere. Conservation means
development as much as 1t does protec-
ton. I recognize the right and the duty
of this generation to develop and use the
natural resources of our land, but / do
not recognize the right to waste them. or
to rob- by wasteful use, the generations
that come after us. The natural resources
must be used for the benefit of all our
people and not monopolized for the bene-
ft OF the few. That is one of the funda-
mental reasons why the special interests
must be driven out Of politics. OF all the
questions which can come before this
Nation. short of the actual preservation
of Its existence in a great war. there Is
none Wnlcn compares IN Will
the great central task of leaving this
land even n better land for our descen-
dants than II is for rs. and training them
into a better race to inhabit the land and
pass It on. Conservation is n great moral
issue for II involves the patriotic duty
of insurng the safety and continuance
OF the Nation. Let me add that the
health and vitality of our people are Mt
least as well worth conserving as their
forests. waters. lands. and minerals, and
that in this great WORK the National gov
ernment must bear most important
part.
have spoken elsewhere also Of the
great task which lies before the farm
ers OF the country to get for themselves
and for their wives and children not only
the benefits OF better farming. but also
those of better business methods and
better conditions OF life on the farm The