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About The commoner. (Lincoln, Neb.) 1901-1923 | View Entire Issue (Nov. 22, 1907)
NOVEMBER 2Z, 1207 The Commoner. ingrtho goods this may be called business, but it is nothing more nor loss than gambling, and in some respects it is worse than gambling at the card table. FirBt, it is on a larger scalo than the gambling in the houses known as gambling houses; and second, the men who gamble on the markets sometimes control tho markets and thus take an unfair advantage of those who enter into tho game with them. It Is time to stop gambling and one of the best ways to stop it is to stop the- issue of watered stock and fictitious capitalization, for these aro the cards with which the big gamblers play. A cor poration whose stock rests upon actual value does not furnish much of an opportunity for exploitation. What the gambler wants is a stock whoso vnrue is uncertain, because then the market price can be juggled with. Just as a farm, whose value is to a certain extent fixed, does not furnish the same opportunity to tho speculator as the mine whoso value is undeter mined, so tho railroad stock that rests upon a value to be found in tho road itself is not sub ject to fluctuation liko the stock of a road whoso dividends depend upon the ability of the man ager to monopolize business. We ought to havo legislation that will put our railroads and other industrial enterprises upon an honest basis, and then we ought to have legislation forbidding the use of national bank deposits to aid gambling. If the New York banks are to be allowed to receive deposits from country banks, such New York banks ought in all fairness be forbidden to use country deposits to support speculative enterprises. All speculation is risky if there were no risk in tho matter, there would bo no speculation about it, and the small banks of the country have a right to Insist that their solvency shall not be jeopardized by the use of their deposits for gambling purposes. And if tho bankers themselves do not insist upon this, their depositors ought to insist upon it, for while the local banker may be excused for re fusing to honor checks in the present stringency, his depositors can not be blamed if they de nounce a system whereby the local bankers aro driven into, the net spread by New York financiers, The republican party has been in almost uninterrupted possession of the federal govern ment for forty-seven years. In its platform of 1904 that party boasted that with the excep tion of two years it had had control nearly all the time of two, if not three, branches. As it requires a concurrence. of the president, the senate and the house to enact a law or to repeal one, it is evident that the republican party Is responsible for our present financial system. It follows without saying that the republican party is responsible for the present financial system and must bear the blame if the public .is not sufficiently protected. Will the leaders of that party now take up the matter and legislate in the interests of the public or will they leave the country in the hands of the Wall Street financiers? oooo LET THE PEOPLE RULE Mr. Bryan has received a number of let tors inviting him to assume the responsibility of naming a democratic candidate. Unfortunately the advice has not all "been in the same direction, and the'advisers do not agree as to the candidate to be named. Each one feels sure that Mr. Bryan can insure a party victory by declining to be a candidate, and urging the nomination of Mr. Blank. The advice Is honestly given and well intended, but the advisers seem to over look two facts. In tho first place, the man who has tho power to dictate tho nomination of a presidential candidate bears a great responsi bility. If a majority of tho democrats would agree to allow Mr. Bryan to name the candidate, they would hold him responsible for the suc cess of tho person named,, and who is wise enough to assume intelligently such a respon sibility? Who knows the sentiment of, the in dividual voters well enough to say without a possibility of a mistake whether this man or that man will poll the most 'votes? It might be very pleasing to the friends of a particular candidate to have that candidate endorsed by Mr. Bryan if Mr. Bryan's endorsement Insured a nomination, but Mr. Bryan's endorsement would not insure the nomination of the person endorsed, and it would not insure his election, and it would Insure ono thing, namely that Mr. Bryan .would.be denounced as a dictator not only by all who are unfriendly but by many who are friendly. Is not President Roosevelt denounced as a dictator because he has indicat ed a proferonco for Secretary Taft? Do not many who call themselves Roosevelt men deny tho right of tho president to pick out his suc cessor and ollminato other candidates? Is it likely that tho men who for tho last oloven years havo lost no opportunity to find fault with Mr. Bryan would commend him if ho picked out a candidate and demanded tho nomination of that candidate. Tho second objection to such a course is that it Is not democratic. Powor comes up from the people, not down from the leaders. In fact, a man according to tho democratic theory la only a loador when ho is going in tho saino direction that tho people aro going and a littlo ahead. Ho only leads whon he is in sympathy with tho people. All of this talk about tho selection of candidates by tho leadors, or what is no better, by a few metropolitan papers, is not only undemocratic but absurd. Tho rank and file of the democratic party aro in no mood to have either Mr. Bryan or anyone else toll them what they ought to do. Any man can glvo advice, but tho advlco will bo accepted upon Its merits and not upon the authority of tho ono who gives it. Everyone has tho right to pro pose a candidate, but it is for tho voters to de termine what candidate they want, and Mr. Bryan has neither the power to coorco tho voters into the selection of any particular candidate nor has he the disposition to exercise such power even if such a power were his. All of tho peo ple know more than any of tho people, and tho six millions and more of democratic voters com ing into contact with their neighbors can speak with more wisdom than any ono person or any few persons can. Let the voters discuss the matter with their acquaintances and' then let tho sentiment of each community bo oxprosacd at tho primaries and at tho conventions, then the national convention will merely ratify tho will of tho voters, and the choice of tho con vention will bo the choice of the whole party. With such a nomination tho party can enter tho campaign with a united front, and not having to spend any time in fights within tho party, will bo ready to charge tho enemy as soon as tho convention adjourns. OOOO , INTENTIONAL MISREPRESENTATION Tho Now York World is at It again, or perhaps it would be more accurate to say, is at it yet, for its misrepresentation is continuous, persistent and intentional. It gives a map of the United States showing the republican states In black and the democratic states in white, and ft charges Bryanisra with having turned tho country over to tho republican party. It, of course, Ignores tho fact that Its element con trolled the party In 1894 when the republicans won a more sweeping victory than they did in either 1896 or 1900. Mr. Bryan can not bo blamed for the republican victory of 1894. And how about 1904? Tho World Insisted on the nomination of a Now York man and picked out tho man, and It vociferously advised tho candidate all through the campaign and what was the result? Tho defeat of 1904 was much worse than the defeats of 1896 or 1900, yes even worse than tho defeat of 1894, and yet the World has the impudence to .offer ad vice. It presumes to toll the democrats how to win! It does not compliment tho intelli gence of Its readers when it misrepresents a situation which even they must understand. OOOO GOVERNMENT BY INJUNCTION Judge M. J. Moss, of Bell county, Ky., has issued an injunction In tho Coleman Mining company case against Wash Splcer and others, which illustrates tho extent to which the Injunc tion can bo carried. Splcer and several others whose names are given are "enjoined and rer strained from interfering, meddling, advising, counseling any person from working In tho mines of tho Coleman Mining company, either by intimidation or force or any other Interfer ence or meddling with any person engaged or offering to engage in work In said mines, and by paying said persons'to leave said mines, and by paying said persons to desist from work In said mines, by furnishing them food and rations for so desisting and that they be enjoined from giving It out and causing it to be printed in the papers or otherwise, that any miners are locked out of said mines, for ten days from this date." It will be noticed that they are enjoined from meddling or advjslng. They are also en joined from furnishing food and rations, from de sisting from work and from giving out and caus ing it to bo printed In tho papers or otherwlso that any minora aro locked out of said mines. Is there any stnto In tho union whoro a statute forbids tho giving of food to a person as a menus of Inlluencing him? Tho Judgo in tho nbovo caso assumed tho right to doclnro unlaw ful a thing which has not boon declared unlaw ful by statute, and having nindo this law, ho proceods to onforco It and then sits In judg ment at tho trial of tho cmo, thus combining tho loglslatlvo, tho oxccutlvo and tho Judicial powors In ono. But bad as this Is, It Is mado worse by tho fact that a Jury trial Is denied to tho ono charged with bollttllng tl Is Judge made law. Tho contempt, If thore Is any con tempt, Is of courso committed outside of tho presence of tho court and must bo established by proof. Instead of allowing a Jury to wolgh tho evidence and determine tho guilt of tho ono chargod with contempt, the Judge ncti as both judge and Jury. Is it strango that tho laboring mon should aBk for legislation that will protect them In their right to call for a Jury? Is It not strango rather that tho public Is so slow to recog nize tho justice of tho Inhering man's raqucst and tho danger that lurks In the system of gov ernment by injunction? ,.. OOOO PHILANTHROPY? Two officers of tho stool trust visited the Whlto House and nskod Mr. Roosovolt whether his administration would object to tho proposed acquisition by the steel trust of tho Tennessee Coal and Iron company. Just what Mr. Roose velt's answer was Is not related, but tho Tennes see Coal and Iron company has been absorbed by tho stoel trust. It Is Interesting that this merger, this additional link in tho monopoly chain forged by tho steel trust, is accomplished in tho midst of n panic and under tho pretenso that it is to give relief to tho financial strain. It Is noticeable, however, that as soon as tho merger is effected it is announced that tho prico of stool rails are to bo Increased from $28 to $31 per ton. Concerning -"this bit of philanthropy en gineered by tho Now York flnnncfori tho Phlln dolphfa Ledger makes this interesting comment: "Tho transfer of tho principal southern iron Interest, tho Tennesseo Coal and Iron company, to the 'trust,' as tho United Statos steel corpora tion Is usually called, Is curiously effected. Tho merger has boon expectod for several years on business grounds, and It now comes as tho re sult of an accident In order to save a Now York trust company from bankruptcy. It Is a by product of tho 'panic' The true significance of tho combination is likely at such a time to bo overlooked. It is really a most Important step in tho direction of putting our iron and steel lntorcsts Into tho control of a single company for a concerted regulation of the output and tho establishment of prices. Tho completion of tho projected plants at Gary and Duluth will mark another Inevitable movement in tho life of tho Iron Industry In this country. It indicates as in tho career of tho Standard Oil company, determination to manufacture at those point where the process can bo most advantageously carried on. Plants less well situated, whether in Ohio or Alabama, will gradually be closed and business will bo centered with a view to economy of production. Whether tho union of northern and southern interests will bo bene ficial to tho public remains to be seen. The state of this important trade will be followed with unusual attention during tho next flvo months on more than ono account." OOOO STRANGE? The New York Tribune called the Oklahoma lawmakers "cornfield lawyers." The New York World refers to "scores of prairie and sage brush congressmen." Strange isn't It that these great newspapers havo nothing but epithets for those who seek to represent the people and noth ing but tributes for those who seek to manipulate tho finances of the country? OOOO WHY NOT? Washington dispatches say that tho presi dent has promised the American publishers to remove tariff duties -on paper In order to pro tect tho publishers from the exactions of the paper trust. That will be acceptable indeed. But why not revise the tariff upon other articles for the benefit of other consumers? fttiiiiiiilfti SiAs.Jjl.Xt!... . .m-a&'i,
