The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-02-24

State printing Office; (3) to engage in the busi-
ness OF publishing text books forthe public
schools; (I to buy the Lake Superior & Missip-
pi railroad and run it as State institution; to
establish bureaus upon bureaus for every con-
celvable purpose under heaven-that this ec-
!ectic reformer, whose theory of government
is that its Office is to do everybody's business
but its own, should hug the old delusion that
it is the business of the State to interfere in
the private business transactions between indi-
viduals and (5) regulate the price which one
man shall pay another for the use of his mon
ey. is not to be wondered at. The wonder is
indeed, that Mr.. DOnnelly exhibits such re-
markable moderation in his proposed legisla-
ton for the protection of the borrower We
believe it was last winter that Mr.. Donnelly in
troduced bill in the senate 10y to compel in
surance companies doing business in this
State to loan the premium money they collec-
ted to residents Of the county where it was
collected, on real estate security at seven or
eight per cent interest. The proposition met
with good deal Of derision at tile time; but
essentially it Is not much more absurd than all
the legislation We have borrowed from ancient
superstition on the subject of uaary. 1t is as
sumed as tho foundation of all such legislation
that the State can and ought to compel the
man who owns money to sell the use Of it to
those who want it at prices fixed by the State
We reply to this as follows:
I. 1.-The power ofthe State to fix arbi-
trary tolls on railroads"
Why. David, both the great political
parties Of the state have resolved in
their platforms, time and again, that the
STATE possesses this power, and the Su-
preme Court Of this State has con-
firmed the legality OF that claim. Will
the Pioneer-Press dare to say. ut this late
day. that the people have no such right ;
and that the railroads are sole masters
of the question of transportation?
2. "TO establish State printing Of
fee" Why, David, the State has done
that, subst antially, for fifteen years past !;
and paid during that time over a quarter
Of million dollars, mostly to the old
st. Paul Press company. and q good
deal of that money is now crystalized in
the Pioneer-Press building, from which
you are penning your editorial.
3~ 80 print the text books Yes,
David, we claim that the State can fur
nish set at text books which now cost
the pupils $1,000, for $3.50, and we
thinA it ought to do so, and thus save
hundreds OF thousands of dollars annu-
ally to the people of the State. But we
will argue that question more fully here
alter.
4. We suggested that If We could
not build free canal to Lake Superior
that the State ought to buy the Lake Su-
perior railroad and carry wheat over it
at cost. The Pioneer-Press Is in favor OF
the United States constructing double
track freight road from the Missouri
river to the Atlantic and not long since
it supported Gov. Daviss proposition
that the only way to control the railroads
was to own them, and now it sees some
thing suprrmely ridiculous 10 the prop
0sitiOn that the State should own one
road. And yet wheat was shipped over
that road last year from st. Paul via Do
luth to New York as cheaply as from ST.
Paul to Milwaukee,
5. To regulate the rate of interest On
money. This the Pioneer-Press regards
as an absurd. unheard-of proposition,
that could have emanated only from our
chimerical. communistic brain. And
nevertheless it is tact that the legisla-
turc Of this state has regulated the rate
OF interest on money ever since we be.
came state. There is law on our
SS1esssS tooA AOV WhlCA lnkCICSt
to IL per cent. and fOrfeits the interes,
over and above that rate. But as it il
self evident that this penalty has no,
been sufficient TO prevent usury Of the
most hagrant kind. we propose 70 "a
farther and forfeit both principal and In.
terest. The present law is not OF any
use 30 the people. and was not intended
20 be. II usury is crime under the law
the penalty should be great enough to
| prevent it.
8. As 10 insurance companies. The
State now by law regulates foreign in.
surance companies. l, prcscribes what
kind Of companies shall transac: busi.
ness in this State and what shall not; liOw
they shall invest their assets. how much
shah be in bonds, how much in real cs.
tates mortgages, &c. Why then can no,
the State declare that the premiums re
ceivod In the State, or some reasonable
shan Of them, shall be loaned In the
StztR The insurance companies take
! milEooS Of dollars out OF the State m.
nuany. If they could be compelled Y
leayo that money in the State = 10 pei
ct int. instead Of carrying il to the ess
aud 1oaning il on real estate there, I
would cheaper interest in MinDesota
and benefit thousands. Many easterr
insurance companies now voluntarily
loan their money on Minnesota farms .
10 pr cent. What hardship would i
be 70 compel them all to do thi2
| THE Ny4ycIAL QUESTION.
We hare received the followiug from
an Intelligent scandinavian Of Meeke
county: