Thomas County cat., 1890-07-03
PRESENT ECONOMIC PROBLEMS.
No. 10.

NO. ~.
The indications are that the wishes
of the West and South. and OF the
debtor class of the East will be COM
piled WITH, and free coinage OF both
gold and silver again be the position
of this nation.
With such step taken by this the
wealthiest nation of the globe, it will
not be unexpected to see the few ma
tions that have demonetized silver,
again resume its use as money, and
a worlds standard created. Instead
of a step in retrogression as claimed
by Senator Edmunds of Vermont, it
is step in advance, a step toward a
greater freedom and higher civiliza-
ton.
A word as to our position upon the
next advance step III our financial
system. We believe that the national
banking system has outlived its use
fulness. and that as rapidly as posi-
BILE upon the expiration OF their
charters they should be retired, and
no new charters given. But it is
objected, would you do away with
our banking accommodations alto
gether7
By 10 means. It is the national
banking act that should be done away
with. We shall in all probability need
banks and bank vaults for our con.
venience and safety as much, and
more than ever, but in place of the
double method of deposit of govern
ment bonds and ninety per cent.
issue of national bank notes, pay
ment of interest upon the deposit and
a second profit upon its circulation,
we would do away with the bonds by
the payment of them. We would
have but one currency and that OF
government issue, we would have but
one system of banks, and those under
government surveillance, as close, as
watchsul as human ingenuity could
invent, that not bill holders only but
depositors also might be fully pro-
tected, that the deposit of securities
requi. ed be not for basis of circula-
tion but guarantee of protection,
and honest conduct of its business.
The doing away with the national
banks is not doing away with banks.
It means but another advance step
to which the safety of the present
system as compared with what pre-
ceded has led us.
We will now return to the subject
left some weeks ago, viz, govern
mental control of matters that have
become of public more than of pri-
vate interest.
As has been seen the railroads of
the country, and telegraph lines are
the most conspicuous examples of the
growth from private to public pre-
dominance, and the constantly in
creasing clash of interests must inev-
itably increase until governmental
control will settle the matter. Nor
will this conflict of interests be set
tied by government control of rail
roads and telegraph lines alone.
With an increasing population
and increasing business other
things will grow from private to pub
lie interest, and more and more will
pnblic interest demand public con-
troll. Twenty years ago private
toll bridge spanned the Kansas river
uniting the North and South Topeka.
1t was properly a matter of private
investment of capital at that time
and fully answered the necessities of
a city of ten thousand inhabitants.
Anyone can see the absurdity of a
private toll bridge for city of fifty
thous nd. It was proper use of
public authority, and of public funds
to appropriate the private property
by purchase and sale, or even Of con-
demnation and fair compensation.
The public interest and the public
good demanded it. So too with ref
erence to a stream supplying water
for irrigating purposes.
While few were using the water
no one cared, the public was not
specially affected, anyone used water
as much as he pleased and how he
pleased. With the growth and set
tlement of tracts contiguous to such
streams, and the greater use of its
water, with the construction Of great
irrigating bitches, and the convey