Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1875-08-25

form Of corporate monopoly, to oppress
the business man, and through him the
laborcr or artisan he employs. Whilst
finds scanty return of less
than four per cent, and but too often
is unable to meet the demands of the
tax gatherer-whilst the wages of the
laborer are reduced and his comforts
lessened-whilst the mechanic, miner,
manufacturer, merchant, lumberman
and all Others engaged in productive
industry, find themselves growing grad.
ually poorer, and protested notes or
the summons of the Sheriff crowd close
upon them-the capitalist, almost on.
tirely exempted from taxation, sits in
indolent ease, and gathers an income
OF from ten TO eighteen per cent upon
his investment
What is wrong2 1t is our system
of finance. What is the matter? 1t
is the large return that corporate cap.
ital exacts for its use
The stockholder in the carrying cor.
poration compels his managing direc-
tor to sacrifice everything else to a
large dividend. He is not content that
business men shall live and prosper il
IL curtails his dividends or lessons
his income. The betterments of his
road must be kept up, branches must
~ r -;--.~d and milt. and palatial
offices and depots erected, and thus the
value of his investment annually in,
creased. Some one must pay for all
these, and yield to him his annual div
idend. The burden of all of these, and
of the taxation from which he is ex-
empt, is placed upon the business man
who is compelled to use the road to
transport his products, The creature
without soul, known as corpora.
tivn, through its eyer-actlve agents,
learns the price of the commodity at
the point of delivery, ascertains the
net cost Of production at the place of
shipment, and fixes the charge for
transportation at the highest rate con.
sistent with sickly existence of the
business. Tho only point considered
is, How much freight will it bear p
The only interest consulted is that of
the stockholder. The profits of the
business man, the development of the
State, the security Of the consumer, are
all sacrificed to the rapacious demand
for large dividends. The transporting
absorbs all the profits
their policy leaves no margin for COM
petition in the trade it prevents the
employer from increasing the wages
Of labor, and drives into bankruptcy
ofmen whose energy, activity
and soul, have been and still ought to
be potent agencies in the employment
and prosperity of thousands of sturdy
workmen.
Nor is this all the small margin left
by the carrying companies to the pro
iucer and his employees is also subjected
TO the insatiatc demands of wealth in
The form of banking capital, and here
again everything is sacrificed to the
necessity for large dividends, and ag-
yregatcd wealth through the forms of
banking monopoly takes from produc-
lion and from labor unjust reward
Not content that tho Government shall
pay them six dollars in gold annually
or the privilege it gives them to 90
back to tho people and discount their
paper at lawful rates not content with
the total exemption Of their wealth
from taxation not content that courts
md jurics, schools, streets, roads and
police are maintained for their protec-
lion by the producer and the laborer
hey, too, break down the business
nan and oppress the laborer to earn
lividcrpls and increase their surplus.
If the exactions of wealth in other
orms compel the borrowing of money
on accommodation paper, or the ncccssi-
lies of business require discount, it is
only given when the margin at bank
IS equal to the sum drawn out and the
legal rate of interest is doubled by the
process, or the note is made payable
vt distance, and exchange Is charged
10 swell the rate, or bold violation OF
The statute is committed at the counter
by an increase of rate, or the customer
Is sent TO a private Office where the
funds of the bank are used secretly to
10 that which It fears to do openly
The result is the same however IL may
bc reached large sum is added TO
The surplus fund, the stockbolder pock.
cts ten TO eighteen per cent. dividend
annually, the business life Of the pro-
luccr grows shorter and the wages of
mis- men continually shrink. it
Isit strange that business languishes,
building ceases and our industries die
,ut under the operation of such sys-
iem as this3
II is peculiarity of this system of
finance that the value Of every other
in which the fortunes of
men are invested, day by day grows
ess, whilst that of this form Of wealth
y,ows greater in precisely the same
alto in which Other articles depreciatc.
As we tend towards the only safe basis
spooie paymepts) lands, houses, ,mcEeh.
Indise, ships, hop coal, oil and lumber
bnnk IN value, but the value Of ag-l