The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-12-21
AS TO HARD TIMES.
A Suggestion for the improvement OF
the name Situation.

A Suggestion for the Improvement OF
the Financial Situation.
Bou1pER, Dec. 20.-To The INDEPEN-
DENT; The feeling uppermost in the mind
OF every man in Montana Ia that he is tired
been an almost entire suspension of new
enterprises. Men stand on the street cor.
neEs of every mining town possessed with
mines and prospects OF ~undoubted merit,
showing gold, silver or copper, but cannot
even induce any one to look at them.
There is a total absence OF money, and be-
yond the small stock kept in hand by the
banks with which to pay checks. 1t ts all
deposited in New York and in use by the
stock gamblers. Some day IL will come
back but life is very abort and the men who
brsyed She hardships of early days IN the
west want to enjoy some OF the good things.
1t is exaspetating to think that people will
come out in palace oars and gobblo mp the
benefits of the resources opened up by the
pioneers. There is beginning to be a gen.
eral inquiry whether there is not some way
to correct the fault and bring about an
emancipation from Wall Street m
tion.
There was in The INDEPENDENT some
some weeks ago an article suggesting the
issue of bonds by the state for the purpose
of building canals for irrigation and the
purchase by banks of those bonds which
would be used as security for circulation OF
notes. If a million or more acres of choice
land In the different valleys can be made
ready for settlement and a hundred thou
sand immigrants brought in by the rail-
roads to cultivate the land il would have a
wonderfully beneficial effect. If there were
twenty Thousand families, each would bring
in at least a thousand dollars, adding there
by twenty million dollars to our cash re-
sources. The Ian they settled on and i'm
proved would increase at least twenty dol
lars an acre in value, making twenty mill
ions more of taxable wealth. They would
all need houses and stables. furniture and
farm implements and other supplies which
would be good for the store keepers. Ii ten
million dollars were spent in building can
ais it would be a blessing to the unemployed
w~orkinRmen, and il those bonds were
bought up by state banks the interest would
be paid at home. Were those banks per-
mitted to issue currency secured by the
bonds Wa would have ten millions of good
money which would be used to develop the
resources of the country and terminate the
hard times.
When the immigrants became settled
and occupied in raising grain, poultry, eggs,
butter. cheese and other farm products it
would put an end to the drain of many
millions Of money annually sent out by
the state to purchase supplies and make
| Montana the richest state in the union.
Another thing which would vastly benefit
the cities and towns would be the influx OF
an army of merchants, doctors, lawyers,
mechanics and others who would come in
to administer to the wants of the farmers
and who would need houses and lots. The
people look to the legislature at its session
this winter to promote in some manner the
development of the state. and if the train
can be- started by the building of a system
of irrigating canals they will be willing te
vote the necessary means. These canals
would soon become self supporting and the
experience in Colorado is that they are
about the mort profitable kind of property
to own. If the tax on state bank notes ii
repealed by cong ess Montana may as vel
be in il as the other states. II silver goe
by the board there will be hard lines il
Montana unless some other industries ar
opened up. \.