The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1910-09-09

big interests have gotten more than
the selfish small interests. The duty
of Congress is to provide a method
by which the interest of the whole
people shall be all that receives CON
sheraton. To this end there must
be an expert tariff commission, who'll
ly removed from the possibility Of
political pressure OF of improper bus,
mess influence. Such a commission
can find out the real difference be-
tween cost of production. which is
mainly the difference of labor cost
here and abroad. AS fast as its reg
concentrations are made, l believe in
revising n schedule at a time. A
general revision of the tariff almost
Inevitably leads to log-rolling, ana
the subordination Of the general pub
lie interest to local and special in
t~erests.
The absence of effective State,
and especially National. restraint up
on unfair money-getting has tended
TO create a 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 conditions
which enable these men to accumu-
late power which it is not for the
general welfare that they should
hold or exercise. We grudge no
man a fortune which represents his
own power and sagacity, When eX-
ercised with entire regard to the
tune must be honorably obtained
and we'll used. 1t is not even
enough that it should have been
gained without doing damage to the
community. We should permit it to
gained only 81 long as the gaining
represents benefit to the community.
This, | know, implies a policy Of a
far mor active Governmental inter
ference with social and economic
conditions in this country than we
have yet had, but ] think we have
got to face the fact hat such an
increase in Governmental control is
now necessary.
mo MAJ 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 it's size, acquires quail
tiles which ~differentiate it 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 for
tunes, and in another tax which is
far more easily collected and far
more effective-a graduated inherit
lance tax on big fortunes, properly
j~safeguarded against evasion, and in
rceasing rapidly in amount with the
size of the estate.
"The people of the United States
suffer from periodical financial
panics to a degree substantially I'M
known among the other nations
which approach us in financial
strength. There is no reason we
should suffer what they escape. 1t is
OF profound Importance that our
fjnanoio1 eviction, chn,1I ho ,t1,,
investigated, and SO thoroughly and
effectively revised as to make it GER
tain that hereafter our currency will
no longer fail at critical times to
meet our demands.
1T is hardly necessary for me to
repeat that l believe in an efficient
army and a navy large enough to
secure for us abroad that respect
which is the surest guarantee of
peace. Justice and fair dealing
among nations rest on principles
identical with those which control
justice and fair dealing among the
individuals of which nations are
oilpOoCu Will llt vital GACcDliOu
that each nation must do it's own
part in international police work.
National friendships, like those be-
tween men, must be founded on re-
spect as we'll as on liking, on for
bearance as we'll as upon trust. In
all this it is peculiarly the duty OF
the United States to set a good ex-
ample.
OF conservation I shall speak
more at length elsewhere. Conser-
Walton means development as much
as it does protection. | recognize
the right and the duty of this gen
Grafton to develop and use the ma
tural 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 must be used
for the benefit of all our people and
not monopolized for the benefit OF