Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1913-04-08
DOCUMENT IS UNUSUALLY Brief
AND ALSO CALLS ATTENTION TO
NEED OF EARLY BANKING REFORM

ducers what they themselves thought
they needed in order to maintain a |
practically exclusive market as
against the rest of the world, Con
sciously or unconsciously, we have
built up a set Of privileges and ex
emptions from competition behind
which it was easy by any, even the
crudest forms of combination to or
ganize monopoly; until at last moth
ing is normal, nothing is obliged to
stand the tests Of efficiency and
economy, in our world Of big bust
ness, but everything thriyes by con
certed arrangement Only new prin-
oiples Of action will save us from a
final hard capitalization Of monop
oily and a complete loss Of the in
fluences that quicken enterprise and
keep independent energy alive.
It is plain what these principles
must be- We must abolish every
thing that bears even the semblance
of privilege or of any kind of arti-
ficial advantage, and put our business
men and producers under the stimua-
lion OF a constant necessity to be ef-
fieient, economical and enterprising
masters Of competitive supremacy
better workers and merchants than
any in the world. Aside from the
duties laid upon articles which we
do not, and probably can not, pro
duce. therefore, and the duties laid
upon luxuries and merely for the
sake of the revenues they yield, the
object OF the tariff duties hence
forth laid must be effective compe-
tition, the whetting of American wits
by contest with the wits of the rest
Of the world
It would be unwise to move toward
this end headlong, with reckless
haste, or with strokes that cut at
the very roots Of what has grown
up amongst us by long process and
at our own invitation. II does not
alter thing to upset II and break
| 1t and deprive it of a chance tc
change. 1t destroys il, We must
make changes in our fiscal laws, IN
our fiscal system, whose object Y
development to more free and whole
, some development not revolution 81
7 upset or confusion. We must huiiC
up trade, especially foreign trade
(. We need the outlet and the enlarged
field Of energy more than We eve
, ala before. We must build up IN
g iustry as wen, and must adopt free
S dom in the place OF artificial stimu
I lation only so far as It will build
0 mot pull down. In dealing with tn
q tariff the method by which this ma
/ be done viii be matter Of jude
. ment. exercised item by item. I
t some not accustomed to the excite
i Iments and responsibilities Of create
2 freedom our methods may in som
J, respects and at some points seer
e heroic, but remedies may be hero
e and yet be remedies i is our bu
Al mess TO make sure that they are gei
g uine remedies. Our object is clea
r If our motive is above just cha
At lenge and only an occasional err'
II, of Judgment is chargeable against U
y we shall be fortunate
n We are called upon to render U
+ country a great service in more ma
is ters than one Our responsibilt
IS. should be met and our methods shou
er be thorough, as thorough as modera
m and well considered, based upon u
on facts as they are, and not work.
by ont as if we were beginners, We 4
ee to deal with the facts of our oV
of day. with the facts of no other al
ut. to make laws which square WI
or those facts. 1t is best, indeed u
ay necessary. to begin with the tari
in | will urge nothing upon you now
ad the opening of your session when G
on obscure that first object or awe
Fly our energies from that clearly
lat fined duty. At a later time m
n take the liberty of calling your
les tention to reforms which should pre-
ion close upon the heels OF the tar
sed changes, if not accompany them
no which the chief is the reform OF
un- banking and currency laws but j.
the now refrain, For the present |
the these matters on one side and I'M
mt, only of this one thing-of the ehah'
1ng in our fiscal system which may D
Bile serve to open once more the I
ldi- channels Of prosperity to great p
ave pie Whom we would serve to the
tive most and throughout both rank
pro- file.