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This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
Aberdeen Herald
Location
Aberdeen, Washington, United States of America
Date
Jan 30, 1908
Page
7
Senator Porter J. McCumber of North Dakota argues the current financial distress stems from faulty business practices not currency shortages. He cites excessive stock values, inflated bank lending, and overextended profits as the real cause, urging a return to fundamental asset values and criticising banks for fueling the crisis.
Harvard economist argues against a federal inheritance tax noting its failure to curb inequality. He says reform of corporate laws and stricter enforcement would better address concentrated wealth and that inheritance taxes should stay with states to raise revenue rather than reshape wealth distribution.
Secretary of War William H Taft argues the greatest national issue is the permanency and efficiency of the courts in criminal law. He says public opinion and education must reform justice, improve trial fairness, and strengthen judiciary machinery to reduce homicide rates and increase convictions.
Former Wisconsin Senator John C Spooner warns against a federal license law he says would curb interstate commerce. He argues the Constitution grants Congress broad but not absolute control over commerce and urges keeping channels free from restraints by federal license mandates.
Charles G. Dawes argues the current U S banking system is the world’s best and urges Congress to reform cash reserves for national banks and authorize a taxed bank asset emergency circulation. He defends the independent treasury as commercial salvation and warns abolition would strain cash flows.
New York banker Jacob H. Schiff argues the crisis stemmed from excessive enterprise across sectors. He cites credit strain, prosperity mania, and the rise of trust companies arming deposit flows for illegitimate promotion. He notes industry and commerce overexpansion amid tightening money markets.
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