North Carolina Newspapers

" -1- ' lfl ..... .- - 'i fie to. -fhVCgnts the Copy. INDEPENDENCE IN ALL THINGS. Subscription Price, $1.00 Per Year In Admij" ' " II VOL XIII. 11 i IM RE MB ! VIGOROUS MESSAGE COLUMBUS, N. CM TBUHSDAY. DECEMBER 5, 1907. NO. 32. government Will Ask Reports frer.i National Banks. WILL BITTER THE SITUATION t:d to I - '.at:cns, It i3 Believed Will riaJy in R storing ConfL- the Ai the Currency is Ex e It Tliis Week and sen 1 031 t fit 1 call-air11:!' ili hi iii tl tJ HW' Chief Executive Makes Annual Suggestions to Congress TAKES UP CURRENCY PROBLEM The Regulation of PubUc Service Corporations is .Necessary, Bnt They Mnst Have Pair Treatment Integrity of Administration of Public Affairs a Duty That Ap plies to All. Wv York. Special. A call u&m t (, :v:l banks for a statement of. moil oi a wr recent ,cuu , 1 1 1 I A t rnpt toner tue Vyui- week. Fear of the five i made, the last having (.nJiticn of the national s , i A'.iust 22d. It is passible ( , ,1 novV anticipated will an iiitp-utant influence on the eial sitiiation. It is expected ii will reveal large reserves of in ; country banks and this tend to restore confidence among ?it to a degree which will ii easy to resume currency pay- s uighout the country. The i i - ii s. I'vcn m normal iicae:", usually :mv i' a call by strengthening ; : . in order to make a good not only to the Comptroller h :t.t their clients. Their state - are n(juiied by law to be pub i . 1 in a local paper, and they are sis f. rw'arded to Washington, where th v are compiled by cities and Watt. "The effect of call for report of ertd:tiin on a fixed date, which is psmtiiy a few days before the call by to t er.pt roller, is to enable the tank to release cash after the call, yiih the knowledge that another coll is r likely. In the natural order ' tin:. us. for about two months. In eent situation, it. is declared x York bankers, the -call will ; t hoarding is not being done v York baukers as indeed r ieneies in required reserves indicate but that many of uior hauks Lave reserves ruu , i such proportions as forty per cent of deposits. The iii reach the -public for indi- I tanks through publication lo ud then will come to the public iiy through the compilation v the Comptroller. Litre reserves in lawful money : own vaults are revealed gen ii v the reports, it will at once confidence in the strength of lis and create a demand which iii no longer be disposed to re-u- sendiug in their reports, immediate resumption of cur payments. irman Fowler, of the House itee on banking and currency, I he following statement re u the outlook for financial lion in the Sixtieth Congress: should certainly be some H legislation and I can assure the members of the com on banking and currency will i energies to that end. What I bo able to accomplish no i answer. But that there is iiced for help no man can mes- than the Jk N'e bv X 1 u:i The substauee of the annuirl sage of President Roosevelt is given To the Senate and House of Repre sentatives : No nation has greater resources ours, and I think it can h truthfully said that the citizens of no nation possess greater energy and in uusmai ability. In no nation are the fundamental business conditions sounder than in ours at this very mo ment; and it is foolish, when such is the case, for people to hoard money instead of keeping it in sound hanks ; for it is such hoarding that is the immediate occasion of money strin gency. Moreover, as a rule, the busi ness of our people is conducted with honesty and probity, aud this applies alike to farms and factories, to rail roads and banks, to all our legitimate commercial enterprises. Our steady aim should be by legis lation, cautiously and carefully un dertaken, but resolutely persevered in, to assert the soverignty of the National Government by affirmative action. Interstate Commerce. No small part of the trouble that we have comes from carrying to an extreme the national virtue of self reliance, of ' independence in initiative and action. It is wise to conserve existence of m on the whok jf benefit to the public. A combination should not be tole rated if it abuse the power acquired by combination to the public detri ment. No' corporation or association of any kind should be permitted tc engage in foreign or interstate com merce that is formed for. the purpose of, or whose operations create, a mo nopoly or general control of the pro duction, sale or distribption of ad duction, sale or distribution of any one or more of the prime necessities jf life or articles of general use and necessity. Such corahjLnations are-1 against public policy; tfcey vioiate l tbe common law; the doors of the I courts are closed to those who afe parties to them, and I believe the Congress can close the channels of interstate commerce against them for its protection. The law should make its prohibitions and permissions as clear and definite as possible, leaving the least possible room for arbitra ry action,' or allegation, of such ac tion, on the part of the Executive, or of divergent interpretations by the courts. Pure-Food Law. Incidentally, in the passage of the pure-food law the. action of the var ious iitate food and dairy commis sioners showed in striking fashion how much good for the whole peo ple icsults from the hearty coopera tion of the Federal and State offi cials in securing a given reform. In my message to Congress a year ago I spoke as follows of the cur re ary- Currency. !1 especially call your attention to the condition of our currency laws. The national-bank act has ably serv ed a great purpose in aiding the enormous business development of the country, and within ten years there hits been an increase in circu lation per capita from $21.41 to $33. OP. For several years evidence has been accumulating that addition al Icgif laiicn is needed. The recur rence of cuci. crop season emphasizes tiie defects of the present laws. There this virtue and to provide for its icusfc soone a revision. othejp, fckw. refrain from discussion of jfchis ques tion as I am informed that it will soon receive the consideration of the bupreme Court. Accidents. - The loss of life and limb from rail road accidents in this country has become appalling. It is a subject -of which the National ; Government should take supervision. It might be well to begin by providing for a Fed eral inspection of interstate railroads somewhat along the lines of Federal inspection of steamboats, although not going so far. Employers' Liability. The National Government should be a model employer. ! It should de mand the highest quality of service iiom each of its employees and it should care for all of them properly in return. Congress should adopt legislation providing limited but defi nite compensation for accidents to all workmen within the scope of the 'federal power, including employees of the navy yards and arsenals. The constitutionality of the em ployers' liability act passed by the pieceeding Congress has been carried before the courts. In, two jurisdic tions the law has been declared un constitutional, and in three jurisdic tions its constitutionality has been ahumed. Eight-Hour Law. L rThe Congress should consider the Ail .1.. -A'-JM 1 ' mi eciension oi tne eigiu-oour iaw. :ae constitutionality of the present law has recently been called into quest Ion and the Supreme Court has decid ed that the existing legislation is un questionably within the powers of Congress. The principal of the eight- hour day should as rapidly and as tar as practicable be extended to the entire work carried on by the Gov eminent; and the present law should e amended to embrace contracts on those public works which the present wording of the act has been con strued to exclude. The general intro duction of the eight-hour day should be the goal toward which we . should pteadily tend, and the Government should set the example in this . re !iM fcau ia; V.!" ye;; r ' tiiic akc in t i re-' , Col our . that cW A I the dinner of the American Association at St. Louis, a io, I predicted that the thing ,a happened, must happen ? me immediate action was 'hat there was not a banker I'nited States who would not it if something were not done, the dose of the last session of I said that the condition of aiK-cs and currency was such would, of necessity, lead to the rin of our prosperity. M. Killed in Auto Crash. -. Pa., SpecialsHarry aged 21 years, died here a the result of injuries su5 ' kis automobile colliding telegraph pole. He was the II. Sehareffer. nvesi- Natioo-rti " ' u Bank ICS M i Ci k-i-. -pecial. A Free n l-ehanaba, Mich., altaiM Frank F. Kent, oi ;eiai '"!'UiV ! 'I'u " ii r- . wiri.. vi , "rmiein ttegimeni,vis- ' -Vuiomil ft,,.,! Ii,,,-,, 'omobile accident near k u,lil four Uianer i. generj rou Work others were injured. 1 'I'escott, vice president ;" "'-uiager of the Prescott vas intenially injured , ; he may die. Isaac States "n' "ephew of United arif n 11 IS ft i t - " a!n hr. i. Mephenson, had au Sllffertfj V.'1 aiui Jospeh Dux bury nd nnn ""' of his collar bone adjy bru hu u. dIri!- Albert Holouist wat fullest exercise, compatible with see ing that liberty does not become a liberty to wrong others. Unfortun ately, this is the kind of liberty that the lack of all effective regulation inevitably breeds. The founders of the Constitution provided 1 that the National Government should have complete and sole control of inter state commerce. Only the National Government can in thoroughgoing fashion exercise the needed control. This does not mean that there should be an extension oi Federal authority, for such authority already exists under the Constitution in amplest and most far-reaching fonn; but it does mean that there should be an extension of Federal activity. This is not advocating cen tralization. It is merely looking facts in the face, and realizing that cen tralization in business has already come and cannot be avoided or un done, and that the public at large can only protect itself from certain evil effects of this business centrali zation by providing better methods for the exercise of control through the authority already centralized in the National Government by the Con stitution itself. Sherman Antitrust Law. Moreover, in my judgment there should be additional legislation look ing to the proper control of the great business concerns engaged in inter state business, this control to be ex ercised for their own benefit and prosperity no less than for the pro tection of investor-and of the gen eral public. As I have repeatedly said in Messages to the Congress and elsewhere, experience has definitely shown not merely the unwisdom but the futility of endeavoring to put a stop to all business comDinaiions. Modem industrial conditions are such that combination is not only neccessady but enevitable. It is so in the world of business just as it is so in the world of labor, and it is as idle to desire to put an end to all corporations to all big combinations of capital, as to desire to put an end to combination of labor. Corporation and labor union alike have come to stay. 1 The Antitrust law should not be re pealed; but it should be made both more efficient and more in harmonv with actual conditions.. It should be so amended as to forbid only th kind of combination which does harm to the general public, such amend ment to be accompanied by, or be an incident of, a grant of supervi-m-v nnwer to the Government ovei these big concerns engaged in inter state business. This should oe ac companied by provision for the com pulsory publication of accounts and the subjection of books and papers to the inspection of the Govcrnmcni officials. The antitrust law should not pro Libit combinations that do no injn tice to the public, still less those the V " " . . . cause to leate tnem as they are means to ii tui liability of business disaster. Knc'e your body adjourned theie has been a fluctuation in the interest on call money from 2 per cent to oQ per cent, and the fluctua tion was even greater during the pro ceeding six months. The Secretary of the l'ieaui had to step in and by wise action put a stop to the most violent period of oscillation. I do not i iess any especial plan Various plans have recently been proposed by expert committees cf bankers. Among the pians which are possibly ieasible and which cer tainly should leceive your considera tion is that repeatedly brought to your attention -by the present Secre tary of the Ireasury, the essential features of which have been appro ved by many prominent bankers and bjsiness men. According to this plan national banks should be permmitted to issue a specified proportion of their capital in notes of a given kind, rhe issue to be taxed at so high a fate as to drive the notes back when not wanted in legitimate trade. This plan would not permit the issue of etarency to give banks additional profits, but to meet the emergency presented by times of stringency. Enforcement of the Law. A few years ago there was loud complaint that the law could not be invoked against wealthy offenders. There is no such complaint now. The course of the Department of Justice during the last few years has been such "as to make it evident that no man stands above the law, that no corporation is so wealthy that it can not be held to account. Injunctions Instances of abuse in the granting of injunctions in labor disputes con tinue to occur and the resentment m the minds of those who feel that their rights are being invaded and their liberty of action and of speech continue to grow. Much ot the at tack on the use of the process of in- iunction is wholly without warrant; but I am constrained to express tne belief that for some of it there is warrant This question is becoming more and more one of prime import- ance and unless the courts will them selves deal with it in effective man ner." it is certain ultimately to de mand some form of lagislative ac tion. It would be most unfortunate for our social welfare if we shouit! permit many honest and lawabiding citizens, to feel that they had just canse for regarding our courts with ucf;Kf,- t onmfistlv commend to the attention of . the Congress this matter, so that some way may be de vised which will limit the abuse of injunctions and protect those rights which from time to time it unwar rantably invades. Moreover, discon tent is often expressed with the use of the process of injunction by the courts, not only in labor disputes, but where State laws are concerned. I nent to puard the personal and property rights of the Indians with in her borders remains of course un hanged. Presidential Campaign Expenses. Under our form of government vot ing is not merely a right but a duty, and, moreover, a fundamental and necessary duty if a man is- to be a good citizen. It is well to provide rhat - corporations shall not contrib ute to Presidential or National com paigns, and furthermore to provide for the publication of both contri butions and expenditures. - Vicksbnrg National Park. I further recommend that a naval monument be established in the Vicksburg National Par k. This nat ional park gives a unique opportuni ty for commemorating the deeds of thoso gallant men who fought on water, no less than of those who fought on land, in the great civil war. The Thirteenth Census. , Legislation should be enacted at the present session of the Congress for the Thirteenth Census. The es tablishment of the permanent Census Bureau affords the opportunity for a better census than we have ever had, but in order to realize the full advantage of the permanent organiz PROMINENT PEOPLE. at ion, ample time must be given for j Labor; The Kaiser is said to bar $10,000 in a Up at Windsor Castle. Mr. Richard Croker will leave mud for Cairo, Egypt, to spend winter. Count Okuma, leade of the anese Progressives, is' the enfant rible of the Mikado's household. Governor Guild, of Massachusetts wants the States to pass unJfortr laws which would foil the tax Because of their annofiMice to Morgan, 3, P; Morgan d6eled to pose of his valuable high-bred which cost $1,000,000. Brigadier-General George E. Ui S. A. retired; was stricken wit. apoplexy at Winston-Salem, Hi and died in a few hours - The atory is current that Flinn, of Pittsburg; has said he'll United States Senator from Pel vania if it costs him $2,000,000, Ai Hi Harrison, an English er. has returned to England arte spending two and a half years in ro tinuoUs Work in the Arctic Ocean. Captain Rould Amundsen, th Norwegian explorer, was the guest of Governor Curtis Guild, Jr., at a fern cheon at the Algonquin Club in Boa -ton. The French Government has Gmt ferred the Cross of the Legion of Honor upon Carroll D. Wright foae merly United States Commissioner df preparation. The Philippines. The Secretary of War has gjfrie to the Philippines. On hos return I shall submit to you his report on the islands Drowned in a Bath Tub. George McManus, an industrious and painstaking American comic tt Iqstrator,- has received merited recog-: nition from the Crown Princess of Germany. Lord Clifton, whose coir'ng of ag0 has been celebrated at Cobham Hall,' vent, England, is six feet seven indies Ugh; His father, the Earl of Darn ey, is six feet four inches. John Burroughs terms Rooaavett ussmging, jn. - i., especial. varies j "the most vital man on the planet." L. Ferguson, Jr., was drowned m a. bath tub at his home early Sunday. Ferguson who was in business ic New York, was married two months ago. Sunday he was bathing when his wife retired. It was several hours later when Mrs. Ferguson awoke and found the body. The coroner decided Jhat Ferguson had fainted and slip ped beW the water. A HEAVY LOAD. Irate Wife (to bibulous husband.- Where have you been until this B. H. Been out shoppln', m Irate WifeThen why didn't j have your purchases sent home stead of trying to carry such a yourself? Detroit Free Press. ' " - - Compulsory Investigation of Indus trial Disputes. Strikes and lockouts,, with their at tendant loss and suffering, continue to increase. For the $ve years end ing December 31, 1905, jthe number of strikes was greater than those in any previous ten years and was double the number in the preceding five years. These figures indicate the in creasing need of providing some ma chinery to deal with this class of dis turbances in the interest alike of the employer, the employee!, and the gen eral public. i Inland Waterways. The conservation of bur natural re sources and their proper use consti tute the fundamental problem which underlies almost every other problem of our National life. We must main tain for our civilization the adequate material basis without which that civilization can not exist. We must show foresight, we must look ahead. Tariff on Wood; Pulp. There should be no :, tariff on any forest product grown in this coun try; and, in especial, there should be no tariff on wood pulp ; due no tice of the change being of course given to those engaged in the busi ness so as to enable them to adjust themselves to the new conditions. The repeal of the duty on wood pulp should if possible be accommpanied by an agreement with Canada that there shall be no export duty on Ca- L nadian pulp wood. x Postal Affairs. I commend to the favorable con sideration of the Congress . a postal savings bank system, as recommend ed by the Postmaster General. The primary object is to encouragf among our people economy and thrift and by the use of postal savings banks to ive them an oportuniy to husband their resources, particularly those who have not the facilities at hand for depositing their money in savings banks. Viewed; however, from the experience of the past few weeks, it is evident that the advantages of such an institution arevStill more far reaching. Timid depositors have withdrawn their saving for the time being from national banks, trust companies, and savings banks; indi viduals have hoarded $ieir cash and the workingmen their earnings; all of which money has been withdrawn and kept in hiding or in the safe de posit box to the detriment of pros perity. Thronght the agency of the postal savings banks such money would be restored to the channels of trade, to the mutual benefit of capi tal and labor. I further recomend to the Congress the consideration of the parcel post, especially on the rural routes. . Oklahoma. Oklahoma has become a State, standing on a full equality with her elder sisters, and her futufe is assur ed by her great natural resources. The duty of the National Govern- Still Another Victim. New York, Special. Earle Ira Mc Donald, of Holly, N. -Y., was killed when an automobile, which ho "was driving in company with several com panions, collided with a sand pile in Bay Ridge. McDonald, it is said would have come into an estate val ued at $150,000. His companions es caped unhurt. SItEpiiiims! HI Are a Necessity I i Exploding Boilers Wreck Building. Brunswick, Me., Special The boil ers of the heating apparatus m at the Maine Central Railroad station ex ploded shortly after midnight, blow ing the roof entirely off the station aud reducing the building to a mass of wreckage. Three men are known to have been injured, and it. is fear ed that others are. under the ruins. The Banger & Portland night train had pulled out o fthe station about three minutes before the explosion occurred. Are a Necessity in thft Hnuntrv Honw. The farther vou are removed! from town to railroad station, thet more the teleohone will save mP time and horse flesh. No man hasT a right to comoel one of the familvl - - - - ------ - - m to lie in agony for hours While hel drives to town for the doctor. Tel-I ephone and save half the suffering:. Our Free Book tells how to or- ganize, build and operate tele-l phone lines and systems. Instruments sold on thirty days trial to responsible parties. THE CADIZ ELECTRIC CO. 201 CCC Building, Cadiz, m iun minis BIHllwl MS SRUVB VMVbT' IB, m mm w WS8.5 Rogutar MO 1 CENT IS ILL IT WILL COST YW to write tor our big r BbG muxuLls cat showing the most complete line of high-grads CLES, TIRES and SUNDRIES at PUCKS BICY BET.O W any other manufacturer or dealer in the world. sr nv m m m w wss at any Or on any iy kind of terms, until you have received our compl illustrating and describing every kind of high-grad , old patterns and latest models, and learn of our rei complete Free h-flrrade and lov cur remarkable Dicvcies, old Da PRICKS and wonderful new offers made possible by selling from direct to nucr wnn no miumcmcn a pronto. WE SHIP OH APPROVAL without a cent deposit, Pay the Freight aiiow iu uays jnroe xriai ana mate otner iinem terms wmcn no i house in the world will do. You will learn everything and get much a Die lniormsuon ay simpiy writing us a postal. We need a RSdmp Aaont in every town and can offer an opnertunitv to make money to suitable young men who apply at once. 0 PUNCTURE-PROOF TIRES 9" hi $4-80 "W PER MIS I'M Nottee the thick rubber traaS T "A" and puncture atrrna and "D," also rim strip ' ; nm ouranz. 1 ttra win outlast any mt make SOFT, ELASTIC EASY BIDING. M Wo WW Soii M a!cks You m Samato S2,lalsf? Pair fop Only out the air A CCASH WITH ORDER $4.55) NO MORE TROUBLE FROM PUNCTURES. PmhU of re wars exnerience in tire making. No danger from THORNS. CAC TUS. PINS, NAILS. TACKS or CLASS. Serious punctures, like intentional knife cuts, can be vulcanized like any other tire. Two Hundred Thousand pairs now in actual use. Over Swenty-fttt Thousand pairs sold last year. DESCtHPTIOHt Made in all sizes. It is lively end easy riding, very durable and lined , witha sweial quality ot rubber, which never becomes porous and which closes up small pun Z-w-riA u aw tn Mnn We have hundreds of letters from satisfied customers s) w-:, i-a ham nniv hf en r nmred trooiiceor twice in r whole season. The v weieh no more I an ordinary tire, the puncture resisting qualities being gen by several layers of thin, specially UnanU fabric on the tread. That "Holding Back' sensation commonly felt when ndingoo iiptsS or soft roads is overcome by the patent "Basket Weave" tread which prevents all air from bf -tag; wueered out between the tire and the road tn us overcoming an suction, i r.e regular price or i Hi... ca 11 h- but for advertising ourpoaes we are making a special factory price to the i rfonlyVto per parr. All orders alrjpped-aame day tktter is j We eMyj von do not oav a cent unui you nave cinniucu suu wuuu uu nuj j.li.u..u. WewUl siow a eash d)sevoat of S percent thereby making the prke S4.5S per pair if yen sand T7T.r. CASH WITH ORDER and enclose this advertisement. We will also send one nickel nlated brass hand pump and two Sampson metal puncture closers on full paid orders (,th puncture closers to be used in case of rSWfonal knife cut or nravy pannes . Tires to be j at OUR expense if for any reason Kiey are not saiunaciory ui cxarainauou. wil ,.t mn4it to ua is as safe as m a bank. Ask your ft!nke7 loress or Freisht AfrentJTthe Editor of this paper about ."S. X you ord-r a pair tireL vou will find that they wl tide easier, run taster, wear netter, last longer ana Z- . . 1 ' ..earl nr- aon at ami TWICt. Vt tHit 'XM1 Will DC SO WC11 nner tnam any yuu SiAmZ 7.'', tn . n wnall tml that when you want a mcycieyuu wan "- j - order at once, hence un-wheels, dlc. pexlaU, parts and repairs, an GQASiERBiJKESa evsVaiing io the bicycle line are sold by us alAa'.f the usual TrhTrtred bv dealers and rexxmrncn. Write for our big 8UKDR V catakrr-2. mim Sl. 77ll bntwSteu a postal today.DO KOI THIKK OF BCYTKG . HEAC CYCLE COWMY, Dept. "4 L CHlCieCTHUr m 4 itbed.