The Port Gibson reveille. [volume] (Port Gibson, Miss.) 1890-current, 1893-01-20

seized with rnpaciiy to get rich.
Some serm 10 have reached the con-
clusiun that The end fully jusiides
the means. The unme OF those
who thus liink and act is legion,
and The consequences IL that In ev-
cry department ol business and
public trust. theft has becune 50
common that we may have 10 resort
TO hanging Ia stop il.
We should inke away from our
Legislators the power oi beslowing
special favnrs on individuals or cor
porations for financial oF commcr-
cial purposes. Such corporations
are always cnmpose,l ola drxternus
set nf cnn'rivrrs who are seeking
their own individual interests anc
under the s',ccious plea of public
utility, seek To obtain subsidies from
congress every cent OF which comes
out Of the pockets Of the people.
All or very nearly oil oi these enter
prises have their origin in the state
Of New York, where much Of the
Legislation OF this nation is concoct-
ed. and our monetary affairs moved
and controlled ~ suit the wishes
and interests Of Wall Street
Our treasury secretaries 60 there
for inspiration. aud whenever a
strlngency in the money market oc-
ours the secretary Of the treasury is
cxpt cted 10 due there and consult
it may be with the very men who
have been largely instrumental in
inanguTating the state oi things the
government is invoked to remedy.
Nearly all our monetary troubles
have lhoir origin there directly or
indirectly. And II is time that this
city Of monetary sharks should be
shnrn OF its power 10 work mischief
Senator Carlisle has recently assert
ed that f'an unsound and compli-
Gated currency system has convert
ed the treasury department into a
great banking Institution with al
most unlimited control over the f.
naneial Affairs Of the people" The
purse is mightier than the sword
and the most dangerous centraliz-
ing power the national government
possesses is centered in the treasu-
ury department. know of moth
ing that would more ciIeciually
guard against this ceniralizing ten
lency than such system Of state
banking as would enable each state
To conduct It's own monetary affails
on the basis Of United States treas
ury notes redeemable IN coin, for
which each slate w"uld be required
TO hypothecate its bonds fur an n
mount sufficient to enable 1t to do
It's own banking and TO adopt such
a financial state policy as might be-
deemed best suited TO the wants Of
its people. The greatest obstacle
10 the adoption Of such course
would seem TO be the present m
of some of the stales,
but this no doubt can be- avoided il
it ever be deemed advisable to n
dopi such course. The net profits
Of such a system could be applied
tn the extinguishment of our state
indebtedness. and to this extent re-
Iicye the people of taxation. Such
a financial policy would much more
nearly distribute the benefits Of our
monetary system among the people |
at largo and relieve an immense
amount Of capital that would imme-
liately seek Investment in various
at present not dreamed
Of, and reduce the rate Of interest
for money TO such limit ms would
be equitable and proper. We would
then have n currency CO extensive
with the nation as good as gold and
The government eau then take as
much time as it may need to settle
the parity between silver and gold.
wEsrslDE, Jan. II. 1909.