The citizen. (Honesdale, Pa.) 1908-1914, 1912-05-10
Magazine For May.l

of by the state legislatures.
"A movement having
for its aim the abolition of private
ownership of the social instruments
of wealth production, and the in
PRODUCTION of a system of industry
collectively owned and democrati-
cally managed for the benefit of the
whole community.
TARIFF.-A tax upon goods i'm
ported from foreign countries. col
lected from the importer at the Gus
tom house and charged up on the
price to the consumer
PROTECTIVE TARIFF.-A tax
upon imports fixed Mt a point high
enough to discourage the importa-
ton of goods for the purpose of
protecting the home manufacturers
of such goods against foreign com
petition. the theory being that the
American manufacturer. freed from
foreign competition. may then
charge the American consumer
price high enough to yield satisfac-
tory profits TO himself and good
wages to his employees.
TARIFF FOR REVENUE ONLY.
"A tariff fixed upon the basis of
the actual needs of the government
to pay its expenses. The protec-
tion of domestic industries is not
contemplated.
COST OF PRODUCTION THE
ORY.-A recent Republican amend
ment to the party's theory of a pro
tective tariff. 1t proposes that such
tariff should just cover the
higher costs of production due to
higher labor and material cost
which the American manufacturer
Is up against-plus a reasonable
profit.
RECIPROCITY TREATY. - An
agreement between two countries
by which an item or series of items
in the tariff of each country is
made exempt from the regular i'm
port duty.
SHIP SUBSIDY.-A money grant
given by the government to a mer-
chant Tor corporatiom to help es-
tablish steamship route Cusing
American built ships which 9th
erwise would not be self sup
porting. The cost of production
theory applied to our merchant
marine.
PRIVILEGE.-All property rights
which are the beneficiaries of legis-
lation which does not equally bene.
fit the entire community-e G., the
woolen trust, the steel trust and
other benefciaries of the protective
tariff; any corporation chartered
by the state to exercise powers
which others are forbidden to eX-
ercise.
THE INTERESTS" - Corpora
tions or businesses based upon priv
ilege or otherwise interested in pro-
tecting property rights as against
the rights of the people.
SHERMAN ACT.-A law original
ly intended to prevent the estab-
lishment of monopolies or trusts"
by making corporations in restraint
Of trade unlawful. The supreme
court has since amended the act so
as to condemn corporations only
when they exercise unreasonable"
restraint of trade.
INCOME TAX.-The proposal to
tax for governmental purposes all
incomes above a specified annual
amount. 1t is usually On a grad
uated scale, so that the tax in
creases as the income rises. The
income tax is in operation in Great
Britain and in most European coun-
tries A federal income tax in this
country has been declared uncon-
stitutional by the supreme court.
But thirty states have ratified an
amendment to the federal constitu-
ton permitting the tax. Only. six
more are needed.
ALDRICH PLAN.-A proposal to
establish a central bank for banks
to be called the National Reserve
association. 1t will be the fiscal
agent Of the country and will have
the right to issue money (as banks
do now) secured by a reserve. All
kinds of banks, except private
banks, may belong. Individuals will
not deal with it directly.
CHECKS AND BALANCES.-An
automatic block system invented by
1.-THE fathers under the inspiration
Of their experience with monarchi-
cal and aristocratic rulers and their
suspicion of democracy. 1t is a dis.
tribution by the constitution OF
power in such a way that the states
balance the United States and both
check the cities. The senate and
the house Of representatives can
block each other, and the president
can block congress, while the judi.
ciary can hold up president and
congress too. It's admirers say II
has worked; that it has kept all po-
litical trains on the track. Its de-
tractors agree, but complain that II
has kept the trains from moving
at all
CENTRALIZED GOVERNMENT
The opposite Of government by