The agents of this Bureau, in carrying out their instructions, sought for remedies for the present depression. They met with representative men in all walks of life, who freely gave the results of their observations and business experience in their suggestions of measures, which, in their minds, would remedy depressions, or modify their severity or shorten their duration. Of course, among such suggested remedies, as among the causes which have been given in the proper chapter, are to be found many trivial suggestions, remote and theoretical, and whose bearing cannot be traced as having any influence in the premises. Many suggestions will also occur to those who read this report, outside of those recorded; but, as a rule, it will be found that the most of those which will occur to men's minds are, to a greater or less extent, involved in the remedies suggested herein. These remedies as stated to the Bureau are classified as follows: REMEDIES FOR DEPRESSIONS AS GATHERED BY THE AGENTS OF THE BUREAU. Financial Reduce taxation. Check the expansion of credit. Settlement of a world-standard of values, with fixed equivalents in gold and silver. Check legislative derangement of the Return to greenback currency. and all owning more than that. Legislation that will prevent the consolidation of large bodies of capital. A sound currency. Equalize taxation by a system of nationalization of land. Abolish taxation on all articles except distilled, vinous, and fermented liquors, and tobacco. Industrial Coöperation. Erect central factories to compete Check tendencies to over-production. Extend the system of profit-sharing. Less production. More even production. Equalize supply and demand. Manufacturers to be content with less than 10 per cent. Organization of laborers. Organization of employers. Political Let Government give attention to the Encouragement of the mail service by Political-Concluded. Adoption of measures to aid and en courage agricultural interests. More frequent changes in party administrations. Electing men of better judgment to Less frequent meeting of Congress. Extend the system on which the Economy in all directions. Better education of the people. tion. Economy and prudence. Put honest men in office. Well-defined classification of society. Educate men for specific duties or stations in life. Cessation of speculation. Self-improvement of the workingmen. he can use himself. Establish industrial schools. Harmonious action between labor and capital. Teach laborers and employers that the decrease of wages and profits means fewer luxuries. Honesty in all business transactions. Time. It is neither advisable nor possible to treat all the foregoing remedies extensively or to attempt to illustrate their value. A few, however, stand out prominently, and it may be profitable to consider such at some length, and in such treatment, as in the treatment of causes, purely theoretical and metaphysical suggestions are allowed to stand as such. The first suggested remedy in the foregoing list which attracts attention is that relating to The Restriction of Land Grants to Corporations.It has been shown under causes that three-fifths of the public domain has been exhausted or taken up, either by settlers or by grants to corporations, but to a very large extent by the latter, and that the remaining two-fifths is made up largely of undesirable lands. These being the facts, a halt should be made in freely granting lands to corporations, for however valuable such grants may be to the public interest in developing great lines of railroads, the result is that the lands constitute a basis to a greater or less extent for speculative purposes. Had a halt been made at an earlier period in our history it would have been well for the country. If there are to be no restrictions upon immigra tion, the Government should keep control of as large an amount of lands suitable for actual settlement as possible consistent with a progressive policy. So the remedy suggested, to "cease granting lands to corporations," has a practical bearing, and casual consideration takes such suggested remedy out of the realms of theory. Closely connected with this suggested remedy is the following: The Restriction of Immigration.-Under causes the results of too free immigration have been pointed out. Legitimate voluntary immigration may be too rapid to enable a country developing its industries to assimilate labor from the outside; but when immigra tion becomes a subject of inducement, of contract, for the purpose of displacing a higher grade of labor, the result is indeed pernicious, and all the authority of law should be called in to prevent the continuance of the wrong. This Congress has undertaken to do, as will be seen by the following law: AN ACT to prohibit the importation and migration of foreigners and aliens under contract or agreement to perform labor in the United States, its territories, and the District of Columbia. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That from and after the passage of this act it shall be unlawful for any person, company, partnership, or corporation, in any manner whatsoever, to prepay the transportation, or in any way assist or encourage the importation or migration of any alien or aliens, any foreigner or foreigners, into the United States, its territories, or the District of Columbia, under contract or agreement, parol or special, express or implied, made previous to the importation or migration of such alien or aliens, foreigner or foreigners, to perform labor or service of any kind in the United States, its territories, or the District of Columbia. SEC. 2. That all contracts or agreements, express or implied, parol or special, which may hereafter be made by and between any person, company, partnership, or corporation, and any foreigner or foreigners, alien or aliens, to perform labor or service or having reference to the performance of labor or service by any person in the United States, its territories, or the District of Columbia previous to the migration or importation of the person or persons whose labor or service is contracted for into the United States, shall be utterly void and of no effect. SEC. 3. That for every violation of any of the provisions of section one of this act the person, partnership, company, or corporation violating the same, by knowingly assisting, encouraging or soliciting the migra tion or importation of any alien or aliens, foreigner or foreigners, into the United States, its territories, or the District of Columbia, to perform labor or service of any kind under contract or agreement, express or implied, parol or special, with such alien or aliens, foreigner or foreigners, previous to becoming residents or citizens of the United States, shall forfeit and pay for every such offense the sum of one thousand dollars, which may be sued for and recovered by the United States or by any person who shall first bring his action therefor including any such alien or foreigner who may be a party to any such contract or agreement, as debts of like amount are now recovered in the circuit courts of the United States; the proceeds to be paid into the treasury of the United States; and separate suits may be brought for each alien or foreigner being a party to such contract or agreement aforesaid. And it shall be the duty of the district attorney of the proper district to prosecute every such suit at the expense of the United States. SEC. 4. That the master of any vessel who shall knowingly bring within the United States on any such vessel, and land, or permit to be landed, from any foreign port or place, any alien laborer, mechanic, or artisan, who, previous to embarkation on such vessel, had entered into contract or agreement, parol or special, express or implied, to perform labor or service in the United States, shall be deemed guilty of a misdemeanor, and on conviction thereof, shall be punished by a fine of not more than five hundred dollars for each and every such alien laborer, mechanic or artisan so brought as aforesaid, and may also be imprisoned for a term not exceeding six months. SEC. 5. That nothing in this act shall be so construed as to prevent any citizen or subject of any foreign country temporarily residing in the United States, either in private or official capacity, from engaging, under contract or otherwise, persons not residents or citizens of the United States to act as private secretaries, servants, or domestics for such foreigner temporarily residing in the United States as aforesaid; nor shall this act be so construed as to prevent any person, or persons, partnership, or corporation from engaging, under contract or agreement, skilled workman in foreign countries to perform labor in the United States in or upon any new industry not at present established in the United States: Provided, That skilled labor for that purpose cannot be otherwise obtained; nor shall the provisions of this act apply to professional actors, artists, lecturers, or singers, nor to persons employed strictly as personal or domestic servants: Provided, That nothing in this act shall be construed as prohibiting any individual from assisting any member of his family or any relative or personal friend, to migrate from any foreign country to the United States, for the purpose of settlement here. SEC. 6. That all laws or parts of laws conflicting herewith be, and the same are hereby, repealed. Approved, February 26, 1885. To undertake to regulate voluntary immigration is an exceedingly delicate matter. The policy of the Government in the past, the prin ciples on which the United States Government is founded, and all the traditions of the country furnish arguments against any such regulation, and yet free, voluntary immigration may do the industries of the country great harm. If so, the past and its precedents should not influ ence the future and its good. As stated under "Causes," the industrial world having arrived at what may be called a crisis period through the rapid extension of machinery and the consequent over development of the industries of the world, makes the doctrine that the United States offers an asylum to the world somewhat dangerous, or, at least, renders it a doctrine now largely out of place. The constitution of the forces employed in the mechanical industries offers the sharpest argument in favor of wise regulation of immigration, for it will be remembered that 31.9 per cent. of all those employed in such industries in this country are of foreign birth, and however much foreign immigration has aided the development of railroad building, public works, rivers, and other enterprises, the industries have been obliged to assimilate labor faster than the demands for products have warranted. These statements are made with a thorough understanding of the great value which foreign citizens have brought to this country-value not only in their own labor, but in the aggregate wealth which has been brought with themand as their assimilation as citizens with those of longer residence be comes more and more felt, the value of their presence becomes more and more enhanced. Their interest, however, is involved in this question of over-immigration. The Enactment of Laws to Stop Speculation.— The effect that such laws would have, if they could be applied specifically, would be for the public good. The facility with which stock companies can be organized in most of the states, and the means which such companies offer for the aggregation of small sums into large capital for the purpose of developing great movements, have been referred to. Probably any laws which might prevent such employment of small sums would be pernicious in their effects, but it might be wise to consider whether existing laws have not been too loosely drawn, and whether they do not grant too great privileges in the way of watering stock and of launching enterprises upon the public that have not money or property back of them. It might be well to enact laws allowing no organization to put its stock upon the market unless the full value of its capital stock is paid in, either in the currency of the country or in absolute property. Many corporations are organized for the purpose of floating stock, and with a glowing prospectus the stock is floated. The result, under such circumstances, is disastrous to all engaged, and the morals of the community in which such transactions take place are more or less damaged. Certainly in this suggested remedy there may be found practical steps which can be taken. Under this head, too, would come the question of corners and trading in futures. The attempt to make any law which shall be efficacious in preventing men from engaging in the unholy work of speculation in food products especially, and in bringing pecuniary responsibility to operations in futures, will be found to tax the ingenuity of the law-maker. The difficulties in the way have been well stated by Justice Fenner, of the supreme court of Louisiana, in a recent decision, in which he presented the following points: 12854 LAB- -18 |