The Daily Missoulian., 1912-08-07

articles SO long as our government at
tempts the impossible task of restoring
the flint-iock conditions OF business 60
years ago by trusting only to sue
cession Of lawsuits under the anti
trust lava method which Il has been
definitely shown usually results to the
benefit OF any big business concern
which really ought to be dissolved. but
which cause disturbance and distress
TO multitudes of smaller concerns.
trusts which increase production---,in-
less they do It wastefully. as In cer-
tain forms of mining and numbering
cannot permanently Increase the cost
lof living: II Is the trusts which limit
production. or. which. without limiting
production. take advantage of the lack
or governmental control. and eliminate
competition nv combining to control
the market. that cause an increase I'm
the cost of living. There should be
/ established at once, as | have else
where said. under the national govern
ment an inter- ate Industrial commits
sion which should exercise full super
vision over tho big Industrial concerns
doing an inter- state business into
which an element Of monopoly enters
Where these concerns deal with tho
recessaries of life the commission
should not shirk. II the necessity is
! proved. Of going To the extent of ex-
ercisng rernlatory control over the
conditions that create or determine
monopoly prices.
by such action we shall certainly be
able to remove the element of con
trihutory cansation on the part of the
trusts and the tariff toward the high
cost of living. There viii remain many
other elements. Wrong taxation, In.
Guiding failure to tax swollen fnherl-
tances and unused land and other
natural resources held for speculative
purposes. is one of these elements The
modern tendency In leave the country
Tor the town Is another element: and
exhaustion of the soil and poor meth
ods of raising and marketing tho
products OF the soil make np another
element. as | have already shown. An
other element In that Of waste and OK.
travagance individual and national
M laws which the wit of man can de-
wise VIII avail to make tho community
prosperous if the average individual
liSes IN such fashion that his cxpendi-
ture always exceeds his income
National eStravag aganee-fhat Is, tho
expenditure of money which IN not
"arranted-we can ourselves control
ana tn some degree we can help I'm do.
,hs aWhS with the extravaganza
caused by international rtvaIrics.
These are all definite methods bv
which something can he acco,nnlishci
w .he direction OF decreasing the cost
b living All taken together viii not
inlN meet the situation There nre In
u eleinents which as vet we do not
understand We can he CERTAIN I'm,
the remedy proposed by the democratic
purity Is quack remedy. II is lust
as emphafica'ly anack remedy as
@ WIS 'ne auaek remedy. the panacea the
universal eure-all which they proposed
10 la.
pare what they now ssv with vhat
.neN said In 1896. only lG years ar,,
,ney were telling iis that the decrcase
~ prices was fatal To our peopie. TINT
tue taii In the production of gold. md
"s consequence. the fall I'm the prices
OF commodities. was responsible for o,r
i,is' Now they ascrIbe these ilIs Ia
u"thetrically opposite causes. such nv
,he rise IN the price of commodities
:. may wen ne mat the immense ont
put of gold during the last few ycnrs
" partly responsible for certain MIA sas
OF the present troub'e-which is mn
instructive commentary on the wisan,,
OF those men who 16 years ago iusistnJ
mat the remedy for everything wps Ia
ne round IN the mere additional output
or coin, silver and gold alike. There
~ no more curious de'usion than that
',. ne "e,hocrat'c platform is n progress
iofif. representing the hest thoupht of
the acknowledged democratic leaders
at Baltimore. Is purely retrogressi,o q
ana reactionary. There liz no prorrcss
IN IL. IL represents an effort To 10
back; to put this nation of 100. 000 o0o
existing under modern conditions b,cl,
10 where 1t was as n nation of g5
ooo.ooo In the days of the stagecoach
,.a aa''ai- noal. Such an attitude liz
torsism, not progressiyism.
In addition then. tn tho remedies
That we can begin forthwith. there
shonld be fearless. intelligent. and
searching inquiry into the whole sub
Jeci, made by an absolutely non par-
.isah Dody OF experts. with no pretu-
h1ces to warp their minds, no object
TO serve who shall recommend amy
necessary remedy. needless of what IN
tefcst may be helped or hurt thereby
ana caring only for the interests of the
people as "A whole.
Currency.
We believe that there exists nm I'm
pera.iVe need for prompt legislation for
the improvement of our national eur.
rehcN system. The experience of re-
peated financial crises In the last 40
years has proved that the prcsent
method of Issuing, through private
as'H'lfS, Hotes secured by government
bonds IL both harmful and unscien.
tine, This method was ndopted nv a
means OF financing the government
during the civil war through furnish.
Ing n domestic market for govern
ineht bonds II WAS largely success
I'LL ID fulfilling that purpose; but TINT
need IL long past. and the system has
outlived this feature of It's usefulness
me ISSUE of currency IN fundamen-
taiiy n governmental function. The
system to be adopted should have ns
its basic principles soundness and
elasticity. The currency should flow
forth readily Mt the demand of com.
mercial activity. and ret, as prompt.
~ when the demand diminishes. n
should be automatically sufficient for
all OF the legitimate needs of bust
ness In any section of the country,
oniy by such means can the country
be freed from the danger of recurring
panics, The control should he lodged
WIN the government and should be
safegnarded against manipulation by
Wall street or the large interests Ii
should be made impossible 10 use the
machinery or perguisites of the cur
reney system for any speculative pur-
poses The country should be safe