Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-10-11

punished, but there is absolutely no
Justice in Furnishing women stockholders
ana causing them to lose their savings
by destroying the value of their stock.
treating the corporate problem. and that
is why it hasn't been solved, because 1t
tasnt been honestly settled. and nothing
Is settled Until it Is settled honestly.
There are millions of the people of this
country who are partners in corporations,
lzo,OC OF them in one corporation alone.
They have right to have their property
protected by. constructive legislation
against the evils and abuses of dishonest,
Incompetent and unwise corporate man
agement. Guilt Is personal, not corporate,
but the people who have been chiefly pun
ished In this country for corporate mis-
management are the innocent stockhold-
ers. and some day these people, who con-
stitnte majority OF the voters OF this
country, VIII get together and demand
legislation for the honest many and
proper punishment for the dishonest few.
Then you will solve the corporate prob
lem.
The national banks of this country fur
nish a precedent for proper legislation
They serve the public in a liberal aud
competent manner. They save thou
sands of dollars to the consumer through
their system of collection and exchange;
they furnish safe depository for your
idle funds at a minimum of risk. Since
their inception the loss to depositors has
been at the rate of one-fourteenth of
per cent. That Is for every dollar on
deposit you run the risk of losing less
than mill a year. No enterprise In the
world ever had such a record Why?
Because the law holds the officers of
banks responsible for mismanagement and
for abuse of power 1t makes them ac-
countable to the public and to their
stockholders and in them the country has
corporation that serves the public and
profits the stockholders by so doing.
Apply this same principle to corporations
and light dawns on the corporate prob
lem.
am not unmindful that I am stand
ing tonight In one of the great cities of
the country-great in the cosmopolitan
character of its citizens, with representa-
tives from almost every cline; great in
its system of public instruction and great
in its commercial spirit and the variety
of its industries No city of the world
surpasses Newark In the number of diff
ferent things made and manufactured
and. all over the world it sends its
products.
national policy. for a protective tariff
favored by our forefathers. like Washing
ton and Hamilton and jefferson is to be
set aside under the declaration that 1t is
unconstitutional The time for argument
upon this measure has passed. 1t Is now
in the hands of the voters If the Demo
cratic tariff bill brings us new pros
perity, with higher wages and lower
will, because If it brings prosperity it will
bring prosperity TO Republicans as well
AS Democrats, but if 1t brings disaster
and cheap times and cheap wages and
turns men out of employment and creates
armies of unemployed like those of
Coxeys, IN the Democratic days of 80.
the American voter will take care of the
issue. The danger is that the experiment
VIII be costly and the lesson dearly
learned. Ii a Democratic tariff only
brought disaster to Democrats we might
feel more comfortable. but it can't bring
disaster TO Democrats without bringing
disaster 10 Republicans as we'll.
1t has long been the desire of this ma
ton that the tariff should be taken out
of politics so that it should not be
changed with each change of administra-
ton. The Republicans created a tariff
board that this subject should be consid-
cred in business-like way and the tariff
schedules determined by non-partisan
scientific adjustment, but our Democratic
friends have made the present bill the
child of caucus, of caucus so ironclad
that the methods of Cannon and Aldrich
seem amateurish and under the rule of
King Caucus, in which amendments are
not allowed. even by members of the
majority, bill is passed which even its
authors confess will destroy at least some
of Americas industries and Immediately
upon its passage, as IL by magic, foreign
goods spring out of the bonded ware
houses to displace the products of the
New Jersey is an Industrial State.
where wage-earners receive S240,OOO,O 600
year. That is source of our prosperity.
Any legislation that tends to reduce these
wages or throw men out of employment
our welfare and happiness.
We are willing to submit to a fair tariff,
but We object to tariff based upon
the principle of the Democratic national
platform, that protection to the American
and to American industries
is unconstitutional.
The Republican platform is new dec.
laration of faith. Ii is progressive and
constructive, and 1t dedicates the party
to the development of the State and TO
the service of the people. 1t is the birth
of new Republicanism. II demands that
the national conventions shall be truly
representative in form and character and
shall speak the will of the rank and file
1t is sincere call to the genuine pro-
gressives of this State to band themselves
under the banner of party that has
turned it's face to the future and has
Forward for its slogan.
1t is no discredit to its glorious past to
say that the party has had a rebirth.
Wery great organization that has figured
~ any considerable extent in the worlds
history has had its trial by fire when ii
occurred that its life would go out and
when its members despaired of its future.
This republic of ours today. the leader
of nations and the hope of the world,
passed through the valley of Gethsemane.
IL was torn from centre to circumference,
and when the storm burst Jealous nations
said the end had come, and many of its
timid aud despairing friends said the
Union could not last and would better be
dissolved.
So with the party for which we plead
tonight 1t has been torn and rent by
bitterness and dissension, and those who
formerly fought for its principles fell
upon each other in internal strife, until
the timid and doubling shook their heads
and said the old party had seen its last
but What they thought were the
Ihroes of disruption were merely the
pains of labor that were to bring forth
/ new and better party. Last fall was
rot final disaster. II was only the Bull
Run-on November 4. next, VIII come the