The Birmingham age-herald., 1912-06-19

panies, the conservation of natural re- | sources and he proceeded to say:
 The chief function of the next ad- | ministration, in my judgment, is distlnc- | tive from a progress development of that which has been performed by President Roosevelt The chief function of the next administration is to complete and perfect the machinery by which these standards may be maintained, by which | the law breakers may be promptly re- strained and punished. but which shall operate with sufficient force and accu- racy to interfere with legitimate busi- ness as little as possible.
 Has Perfected Machinery
 "There spoke the voice of two repub- | lican administrations, and the promise of that declaration has been faithfully ob- served. The republican administration which is now drawing to a close has en- gagged in completing and perfecting the machinery, in supplying the standards, and working out the practical results ot established republican policies. including l also the Mckinley policies of protec- | tive tariff and sound financial system.
 Service of this kind Is of highest inl- | portance Constructive national policies are not established by simple declaration, or mere legislation, or moulded in sim | gle day or year. They require enforce
 
 will They require to be perfected by administration and supplemented period- | ieally. Under his administration there has been one continuous course of con- sistent policies and effective performance of duty He has dealt with the evils that beset him. incidents that have amazed our people in the industrial world.
 Ie remains with the American cleo torate to say whether they are satis- fled with the efforts sincerely put forth. | All men at some time are more or less defective in judgment. but they can refrain from establishing precedents. The republican stands for that which the democratic party does not We | stand for no abuse of the tarin. No tariff can be devised so moderate, so reasonable that 1t will not be rejected by the democratic party, provided its duties be adjusted with reference to labor cost so as to protect American production. This saves America being driven out of her legitimate markets in other countries. Lower rates of wages are inimieal to Americans.
 Touches on the Tariff
 "The foreign merchant marine has been curtailed by American sailors re- ceiying higher remuneration. The dem ocratic party proposes to put mills, factories and mines in the same posi- tion we would avoid. il Is an appre- ciable tariff of the welfare for all we seek. We are not pupils at tariff mak- ing. Protected industrial concerns have been inspected. Committees of Con- gress have been laboring in and out or season to remove the cankers that we may be properly protected"
 "The republican party promises to rem edy the defects through having the facts aseertained by an impartial commission . ar1rFg f4crnf that the President and Congress shal have the basis for the justieable applica- ton of the principle of protection. The republican Congress included in the Ald- rich-Payne bill a clause under which the President had frequently to appoint auto- matc boards. The President appointed the members. It's members are drawn from either political party. Their com- potency, integrity and fairness are un- impeachable. They have reported on the woolen schedules, on the cotton schedule and sundry other schedules. The Presi- dent in turn reported the findings to Con- gress.
 Respects to Democrats
 "A democratic House of Representatives ignores and repudates the recommends tions. In January, 1911, the last republi- can House of Representatives passed a bill to create a tariff commission with much broader and more effective powers for compelling the attendance of wit nesses and securing information. charged to report it's cruX of findings to Con gress. The measure passed the Senate with some amendment, but there 1t was delayed thereby democrats filbustering A vote was prevented by innumerable riders in the guise of amendments. Now the House is a democratic box and the tariff commission bill is dead. The demo- cratic party does not scrutinize the facts of just protective tariff carefully be- cause they mean that there shall be no protection for American industries. In the last session and in the present session the democratic House had framed and passed a series of extraordinary tariff bills for revenue alone with complete 1 indifference studied to the absolute de- struction of sister commonwealths. Some of them have fallen by the wayside in the Senate, and some have gone to the Presi- dent to receive his courageous veto.
 aThe American people now have to pass upon not the tariff abuses, but the funda- . mental question between the two systems of tariff making.
 "The national currency which the elec- ton of Mckinley rescued from disaster at the hands Of a free silver democracy, kstill rests upon the civil war basis of government bonds, and is no longer adapted to our changed conditions It is inelastio, it's volume does not expand and contract apropos legitimate demands. It subjects us to constant danger of panics which begin in speculation and end in paralyzing enterprise. 1t facilitates and promotes the arbitrary control of a small group of banks and bankers with enor- nous capital and tends to an undue con eentration of the money of the country in few great money centers. Every pos sible remedy involves the scientific study of worldwide finance, because we are no longer independent or isolated from foreign countries. Money flows from one spot to another in accordance to the law of supply and demand. The attraction of interest rates is the principal factor"
 The Monetary Commission
 No congress could by its ordinary methods get beyond the surface of the vast and complicated problem than it's | inception. yet the working out of a new l system adapted to American conditions 1 is of vital importance to the prosperity l of the country and the security of every business and every business man whose | support is directly or indirectly depend | ent upon American prosperity. For the | solution of the question the policy of the | republican party established a monetary commission. This has made most thor ough and exhaustive study of the fnan- ciai systems of all civilized nations. They studied the relations tv our system and the needs of American enterprise eorrc- latively. The commission has reported bill for the establishment of a new l system of reserve associations under l which the currency will become elastic. l the business of the country will find ready sale for it's commercial paper. the