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About The morning Astorian. (Astoria, Or.) 1899-1930 | View Entire Issue (Dec. 31, 1907)
1 2 THE ' MORNING ASTOllIAN. ASTORIA, OREGON. TUESDAY, DECEMBER i, 1907, THE MORNING ASTORIAN Established i873. Published Dally Except Monday by IBS J. S. DELL1NGER COMPANY, SUBSCRIPTION BATES. Bt mail Mr year I-"1 . en By emr. per monin.. WEEKLY AST0KA3. By mail, per yew, in advance.. .AUl .,, Aft ni1-lflM mnt' JQ1T St, at tb poomo at AMir. gtm, under in of Cungrwi ot March 8, mvai.. K. jUIlnvuir ef TBI MoR tmamaux loeitbw rwMeore or place of through WerSoo. Act nresutsrltT in it Bm ahould tlnimUat(Ir rrpoitcdtotbr se of pubUcauon. . TKLEPHOKi. KAX2I Mi. Official pap of Cktsoy County 4 the City of Alton. New Yer's Greeting to the Children A neat glaied oil cloth ichool bag will be given to each school boy or gill who calls during business hours Monday anil Tuesday at the SCANDINAVIAN AMERICAN SAVINGS BANK. 506-308 Commercial St. Astoria WEATHER. 4 Western Oregon Partly cloudy with d rotable occasional light rain along coast and in Northern portion. Western Washington Partly cloudy with possibly occasional litrht rain. Eastern Oregon, Washington, Idaho Partly cloudy with prob- ablv occasional lijrht rain or BQOW. trusted them, all under guise and guar diansbip of inspired laws hatched for the protection of just such thieves; and yet the people cannot, and will not, (lis criminate and stand out for the instant and radical amendment of the. taw; but continue, passively, and pusillaniuiously to abide the foul injustices of the code that meshea the little, helpless fry, and warps conveniently and largely for the adroit scoundrel with nion,-y to pay for the justice he wants. Of course, the story is illimkably old and trite, but it will stand casual repetition, all the same. 0 NEVADA'S FALSE POSITION. MIL GARLAND'S OVERTURES. Be it remeuibeivd that the Morning Astorian, nor the Astorian generally, baa any fault to find with Mr. Garland nor the quality of the overtures made With less than 150,000 souls homing by that gentleman to this community; within her boundaries, the falsity of and the analysis offered in the Sunday Nevada's attitude as a State in this Lasue of this paper was not meant to be Union is conspicuous enough, without indicative of any fault-finding or re- the additional evidence of her inaptitude proach in the premises treated. We are for self-government so blatantly app.tr- simply desirous of maintaining the ent just now. She should never have communal record as to its reception. I been Admitted on the basis that was re and subsequent : ejection, of 'hose over-1 h'gioualy required of all the other com teres as they passed, and the reasons I mon wealths of the United States and the actuating the two decisions. , I egregious blunder is beginning to mag What Mr. Garland offered was good jnify itself and strike in on the public and acceptable, and we are grateful for sense of justice with potent force the the initial proposition to us direct; it I farther the history of the GoldfieU pro- 7. as rejected bus use of Mr. Garland's I ceeda. Perhaps, as a mere expedient for extraordinary reticence as to his finaa-1 the safety of the (women and children in cial status and that of his syndicate. I that "rotten borough," the President It may be among the accepted anomalies I had best leave the federal soldiers then-; of financial procedure in the "effete I the State itself cannot, aptmrently, do East" to take the mere, unsupported I anything to preserve order, and human word of a perfect stranger in matters I ity demands the use of whatever agency of half -a-million-dollar import, but we I is at hand to maintain law in a lawless of the extreme West are not yet eJu- land. Nevada does not even enjoy the cafed to that point of tolerance; and wild and questionable distinction that no doubt we suffer greatly by our was once her chief est glory, in the days stupid adherence to the exacting method of the "Vigilantes," the days when Vir- of acquiring a rational knowledge of our grata (Sty, alone, would have sent a associates in enterprises of such magni- thousand men to GoldDekl and wrought tiide; but we must abide by the code order out of the maddest chaos ill-ad- that controls in these cases, for awhile, vised labor could have achieved. But at least, until we shall more easily all that is past and gone; and the al- reoognize the peculiar virtue of "plung- leged State is yet, and ever will be, a dug," or "going it blind" and of "taking puling dependency on the national sys- mueh for granted;" a course of action tern of internal defence. that was imperative under the terms o preeeoted by Mr. Garland to our citizens. A ROMANCE OP FIGURES. If Mr. Garland has definitely conclud- ed to establish his steamship lines out The alleged, and sensational, claim of of Portland (and does so) twe are glad one Miss Eustaphieve against the Eng- on Portland's account, and his, but we IMi government, for an incalculable sum refuse to believe that he has, or will do of money based upon an alleged loan this, upon the same basis sought to be made by one of her ancestor to Richard used in this city; the people of Portland HI. over 700 years ago, with interest are quite as amenable to the essentials accrued (and amounting to a billion bil- of a big oomnu-rcial transaction of this lions, more or less), wildly extravagant land, as any on this coast, and if they a it reads, but serves to point the ever are asniBtlug iu tl.Is gwd venture they lasting moral that there is not mo ;ey are doing so with ample knowledge of enough, gold, silver and paper, in all tibe exact rating of the promoter and world, nor treasure enough, un the syndicate he stand for. stamped by the combined peoples of 1.0 civilization, to begin to pay the public "HE STOLE FOUR DOLLARS." pd private debts of the world, as they exist and are recognized today as legiti A man by the name of Eealey, an mate and standard obligations. The old and trusted employe of the fed- whole system of national and inter era! postal service at Chicago, stole a national exchange, is a vast and un fetter containing $4, and has admitted dependable romance of figures, and per it to the authorities, and now lies in haps the only case in which the code the city prison awaiting the outcome of and rigid quality of figures ever entered Ms case. By way of extenuation he the world of romance. Money, and pleaded that he -was not earning enough figures, often are employed, in conjunc for his family of 10 children, and that be tion with the nobler traits of humanity, took the money to contribute to their to inspire and enact a grateful romance necessities. Strict inquiry reveals the of love or largess; but aside from these : absolute truth of his statements, and instances, and in their elemental groves, he board of publio charities has taken money, nor the figures wherewith it is over the suffering youngsters as among computed, ever rise above the sordid its special wards. level of unemotional fact. To see them iBut all the same the weight of the harnessed once in a while to the roman- federal statutes Iwill fall on this un- tic, is a grateful departure from a weari- foappy father with all the force and some and morbid fundament of fact precision for which they are famous, and altogether too insuperable for most the integrity of our Uncle Samuel's code of us. will be maintained to the last letter. o 'AH around this poor man, everywhere in the great country, there are thou sands of men, high in the public, and commercial, confidence of the centers for which, they stand, who have stolen mil lions of money, and wrecked the lives and fortunes of other thousands who TAFT'S GREAT SPEECH. (Continued ifrom Pigs 1) COFFEE You are both judge and jury for Schilling's Best, Your grocer return! your money if job don'l like it; we pa; him embark in now enterprises, however the capital fails them and disaster comes. 'For eight or nine months jaat there wore many indications thift the loanable capital of the world was near exhaust ion. This result was brought about not only by the enormous expansion of bui ne&t plant and huines4 investment which could not be readily converted but also by the waste of capital in ex travagnnce of living and by the Spanish War, the Boer War and the Russia and Japanese War and in such rata trophe as Baltimore and San Francisco. It ea.no impossible for the soundest railroads and other enterprise to lrro money for new construction or re-Con struction. The condition was not con fined to this country, but extended the world over and was made manifest in the countries of Europe even before it was felt here. Secondly, the- conclusion cannot be avoided that the revelations of irregularities, breaches of trust, stock jobbing, over-issues of stock, violation of laws and lack of rigid state or nation al supervision in the management of some of our largest insurance companies, railroad companies, traction oompanl- and financial corporations, shocked in vestors and made them withhold what little hwnable capital remained avail able. Such disclosure had more effect probably abroad than they had here, be cau-e here, iwe were able to make di tinctirms while there at a remote dis tance, the revelations created distrust in our hvhole buine-s (fabric "When, therefore, two or three institu tions, banks and trust companion, sup posed to be solid were found to have their capital impaired by stock jobbing of their officers, the public were easily frightened and the run on banks, began The question than became not one of loanable capital, but of actual money to be used in the transaction of the day very different question, though, of course, closely related. "It would seem that our systef oc cur rency is not arranged so as to permit its volume to be increased temporarily to counteract the sudden drain of money by the boarding in a panic. It is pio bable that the stringency which reached it height on that dark day of Oct. 24, might in part have been alleviated had we had a currency which could auto matically enlarge itself to meet the tre mendous demand of a day or a week or a month while public confidence was be ing restored. The national administra tion,. together with many of the large capitalists of New York and elsewhere, put their shoulders under the load and by various devices of an unusual char aeter, have brought About the present condition of gradually increasing confid ence., "The injurious consequence to follow from this panic are not likely to be so long drawn out or to result in such de pression as the panic of 1803 or the pan' ic of 1873 and this for the reason that the condition of the country makes It so much easier to resume business grad ually to accumulate capital and to them renew the enterprises which bad to be abandoned for lack of it. In the first place we have a solid currency with no suggestion now of a departure from the gold standard. In 1803 the pressure for free silver (was on, and the threat of national repudiation had much to do with the delay in the return to prosper ous times. Our government finances now are In excellent condition and we have a larger surplus. : Our, farming communities, in the West to-day are Hot under the weight of mortgages and of debt which distressed them in 1803 and 1873. They are prosperous and wealthy. "Again, the railroads, which make up a large part of the wealth of this coun- try, are on a much solldrr foundation than they were In 1803. Then many of them had to lie takvn into hand of re eetwrs and Immense amounts expended by mean of receiver certificates dis placing and destroying th value of vett ed securities In order to put the rail road Into ftn Income earning condition. The railroads today are In MUr physi cal condition than they have been In their history, But few uf them have retvntly been built Into new territory, In which bulne has to I created by In troducing a new population. "Aguin, the Ulnncc of trade Is with us. n were about to scute for tiie hundred million of gold that we with drew from Europe In order to meet Uie demand for money in the nuukeU in New York,- by the exoes of our export over our lm)Hrts I11 the single month of October. "All these thing point to the probabi lity of a restoration of confidence and after a pronr liquidation and an indust rial doprwwioit of some month', to a re sumption 0 bu-tines on a normal basis. "Modem business is conducted m ytetu of credit which in normal Unx-s increase the facility with which the work of manufacture, production and sale can be carried on a thousand fold (eyoiut the limit of earlier days, and enable a total of many billion to rvst n a ven- small percentage of actus money itasHed, Every manufacturers every merchant K umler nuHlern eomu tion. dependent In the successful con luut of hi business upon hank credit extend! at rcimlar seasons. The bank themselves In turn acquire the mean of granting these eivdlt largely from the money of their depositor. And In loan ing tln'ir deposit, the banks rely on the improbability that more than a certain twit of the deposit will I called (or at any om time. lack of public con fidenm In the banks create a common deire among depositors to withdraw their money. The fright which le the creditor, the depositor and lead him to hoard bit money, spread like wild fire and i a unreasoning and unreason able a the spirit of a mob. A run on the bunk ensue. The banks then call on their dUor and the tremendous ntnicture depending upon credit tumble. Meantime men who properly count themselves a milionaire. who are hon et, co servstiw. solid bulnemen, al ways responding to thjeir obligation find themselves ss helpless under such i financial cataclysm as they would be an earthquake. "Gradually reason resumes its sway, but the Injury to credit and the blow which ha iteen struck at the normal business progress has been more or les Kmarrnt. allies nave shrunk, plan for new and increased business enter prises must be alaandoned and liquiilation lake pluer. The businessmen who have to stand the strain mho have sn their fondest hope crushed nod have only been able to, come through the crisis with the greatest effort and most sub- ttafttial financial tm, are naturaly sore and deprived. They believe, and gener ally tlx-y are right, that this dUaster has come upon them without, fault nf theirs. It is unjust to them. No matter how- many symptoms of the coming troubles there' may have been, panics always come with a shock, and a tre mendous surprine and disapiwiattiieut. And hardly is the panic over but a fierce discussion arises as to tln cause of Its coming. But various motives, editors and public speaker rush to the front to fasten upon something or someone the responsibility 'for what has happened, It is entirely natural that' in tlie condi tion of mind, in which the suffering business men are left by the great strain and trial, such suggestions should receive marked attention and that tliu ntore definitely the personality a scape goat can be fixed, the more pleasure it gives tha victims of the catastrope. This mental attitude of tlte business community which I have described as likely to be found after every financial panic is clearly present today. The eoonomio and political history of the last four years gives its importance, be cause it offers to certain elements in the business and political community an exceptional opportunity. Let me In vtte your attention to more history. It i that of a giant struggle between the national administration and certain powerful combinations in the financial world. These combinations for lack better name are called "Trusts." They engaged in different lines of manufac tures . and production by assembling large amounts of capital into one mass in a particular; line of business managed by artful and skillfully devised .but il legal methods of duress, to exelude'com petition and monopolize the trade. They became the dictators to great railroads, however powerful, and by threatening a withdrawal 0" patronage, secured un lawful and discriminating rebates, great ly iheniasing their profits and still more completely suppressing competition. The agents and sympathisers and de- fendiera of the trusts and other innocent but mwteken, now rush forward to place the blame of the present condi- I wish to Uitnk my many friends and acquaintances for their extremely liberal patrong during tbls Joyous Holiday Heaaon, and I wish to emphasis Ui FACT that I ALWAYS stand ready to niakt good or exchange anything purchased from in that doe not pror satisfactory in svery way. , Now that ths Christmas Holidays ars over, and 1 havi had tlms to look orsr tny stock, I will b prepared to offer som tempting , bargain price on article sultabls for New Year's gift. J. H. SBYMOUR n store of Qunlty. m Commercial 6t, Astoria, Or. 1908 Tide Tables Just received ths lOOtj Govern menl tide tab!. We have a full tins of 1008 diaries; start ths new ysar right by keeping a full account of all your doings snd also correct account f oash spent and received. E. A. HIOGINS CO., MU8IO IIOOK8 MTATIONF.lt Y 9. Mhtsi 601 1 HB BAY BRASS & I A8TOKIA, OHKUON IROH AND BRASS FOUNDERS LAND AND MARINE ENGINEERS VrlDat Haw Mill Itachlneryi- rron.pl atuaimn Ta to al. repair work '8th and Franklin Av Tel. Main tl Sherman Transfer Co. BUSBY SHERMAN. Uanager fTacks, Oarriaga-Bggf Ch?kJ aad TrjisfwdTriiok wagoas-FUaos lforsJ, Boxed and Shipped. 33Comrdal Strott sad larsitiN Mala Fhoas 11 PAFKER HOUSE LTJBOPKAlf FLAX. Ilrst Class ia Irsry Ssspsct Frs Coach to ths Bouts. Bar aad Billiard Room for Commercial Msa Good Sample Rooms oa Orouad Floor H. B. PASKEB, K. P. PA1CK1, Propristor. Ktnagsr. Astoria Oragasj (Continued on page 3) , ARD by which the merit 1 of all other tawi art Judged. FOR SALE AT TEX Hardware Co., 113 12th St. TIME CARD Astoria & Columbia River R R. Co. BSsoUts, Monday, Stptmbtt 9, looyPaciila Tims, I. H ,m- am. p.m. p.m. am. w , J...... .M (.00 9, I Bn.:S4. U flS...... 8)810 10 til a f s.m lo.is 71.1 & H I.N 10.61 7S.7 H 0.40 U.tf W.8 8.U 9.1B (.80 11.46 W.8 8.8 9.88 10 13.05 108.7 i.s ..... i.ii ..... zfzim S.iH ( SO 108.4 8.4S ( M. 108.1 8.46..... (.28........ 8.48 (.20 .... ...... 8.6A (.80 S.M S.4A (.40 1U.06 0.1810.18 7.11 IU 81 t.B 10.26 7.20 12.40 9.8010 80 7.28 12.46 a.m. s.m. p.m. H,.. p.m. 1)6.7 118.1 110.1 rWRTXAWDt... AT. ,,rvivil,AUT.., Uf .QpHlKt. arr KAiniaKt MAYOKH '(aMk?faSuNrWioiii'' ciiptom .T77T77.. . . . Ar ..ASTORlAt !!, 11. AHTOKI A r Ar. WAKKKNTON ......Lv lr WARIfflSTOJMt.. Ar HAMMOND. ..IT. BT1CVENB . FT. BTKVKN8 .. HAMMOND., .WAHRKNTON . Lv.... wARriK'Nton ...;;"av UaAKHSHT,,,,, Ar. . Lv.. Ar!;;;: ........ Lv ...,,Ar Lv At.... .....9BAH1DK .. HOULADaY , ,, iv T Miles 'i'afj s laV1 I ... . P.m.lp.m.lam.lam 78.8 10.40 1.28 1 S: ta IS If i . f. l.io B a 19.1 8,16 l.M 14811.00 8.4 7.(8 6.86 2.20 loiJo t.4 .....I lloiuTil o .... s.OH io.a ji-v. 7.4S 8.0O1O.W L! ! Ji - -f .0i 168 7.88..,. lit 20 10.24 18.4 t..,,. 12.10 M.U .r i27ifeii;Tir J.J ( 67 8 0B 10.611 9. 10 tM (.00 10.46 .41 0.0 ( 46 4.66 10.8S .H a,m, p.m. a.m. a.m. If earnestness of purpose, coupled with skill, sjrperienc aad roodtra facilities C0TJHT- Thsn th nisSTfiw TnnfiAD raw -in m.m m.- . , v w., bvuMHuf aa ia sxjuiWr Nos. 28 and 28 run from Astoria to Clatsop Beaoh via Ft. Stevens Nai m 5,ni,T P2lUJfd t0 ArU Mil OUtaop Beach dlrt No zTrln. froS Portland to Astoria only. No. SOrun, from Astoria to Clatkop Beach direct. a Nos. 21, 25 and 29 run via Ft. Stevens. N0. 28 runt from Clatson B t A-tori d Portland direct. Addition., train will b. rua C iZSto Ft mr , , j B . . . " owns i:uu p. m., arrives Astoria Ii48 n. m. Trains marked run dally; f Telegraph stations. ' ; TV'" nvwi50TSNit.,Portl'nd' w,thU traasonttoental Uaes. 'At GohJsi .Through IX WZrSSU FcX further particulara apply to, . R. H. JKNKTWfl. ' ror X