The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-08-08

an Investigation beyond the surface. The
suggested "eurss" are quite as numerous
and equally asiuine as the multiplicity OF
causes" and on every land We hear COM
PLANTS, ccnsures and advice snvoring OF
the presumption which characterize the
people who consider that constitutional
equality" is synonymous with "mental
equality"
When the doctors DISAGREE. who Is to de-
eide? The New York World published ON
July so answers from 100 prominent bank
ers anu investors from all over the country
to their question ~ to what oauses led 70
their failures. These replies refer to eight
different causes, viz: Account vicious effect
OF the Sherman law" %; Fear of repeal of
Sherman law" 10; Fear OF tariff revision"
ministration." II; "Insuficient amount Of
ourrency."3 8; "Distrust of banks" s; 10
cal causes.' Il; "Austrslian failures" l.;
and Don't know l.. Thu peculiar part Of
is ia that the exp sssions for any one cause
were not confined to the limit of one state
or section, but each cause had advocates in
nearly eve y section.
Now. whilo the writer of this article has
profound respect for the opinions Of such
men ms have furnished the Worlds answers
as being based u on what they personally
experienced; while he has equal respect for
the opinions Of thousands of others. and
while he lays dus stress upon tho reasons
assigned. he begs to deny that any one. two
or tn 5ee of these reasons are the true cause,
per 80. A mau may havs dropsy and even
dio of IL. but dropsy was only and simply
the result Of o cause, and SO with all those
not one cause but many. LACK Of conf
dence' covers all these SO called reasons.
and is the direct cause OF our financial
%stringency. But what caused this lack OF
confidence? l believe that many things
which can be traced through years OF pro-
rraap pnnfrihutAS tn hv oil nIoo,oao aud tn
obliged in by all. with few sxoep-
tons, have gradually led up to
this ggeat elimination. This question
involy 8 moro of the study OF social econ
omy than special legislation, though tho
latter has contributed altogether too much
honestly be held for a fair share OF the re-
sponsibility rs will be shown further on.
Among other i'm ~portant causes may be mon
toned insufficient or improper education
which has placed the ossession and con-
troll OF wealth al the head of worth and
power. This has led 10 unhealthy and alb
no NAL ambitions to possess wealth at the
excsnse OF every good quality that makes
noble men and true women. Success in
this direction has resulted in the unlawful
use OF the power acquired and extreme OK
cesaes in extravaganza n podigality.
The rapid requirement OF wealth has over
estimated the confidence of the creditor
class i'll the ability of the debtor GLASS, and
blinded his Judgment in the matter Of
credit, which, In turn has p owed q strong /
stimulous TO SPECULATION ana led both
Glasses beyond the depths of safety. The
old but SO eure idea that business success is
won only after and by years Of business
t aiming has given placs to the new theory
that success results from luck and we are
all lucky. Quiet, staid and steady habits
OF industry nave in past years given way to
the ragid strides and ~alluring prospects OF
fha 1 Va opS p1rj trA ~ ~S 80 kLn .-o;A
ment Of the hour. The r.oh strive to Guido |
their neiahbors in elegance and show and
set the example that Las too often been
taken up by the poor to vie with mis- more
prosperous neighbor in Style and living. !
The unwarranted credit system throughout
portions. has enabled this to be done until
the common PEOPLE nie now st juggling I'M
successfully In the deep pool of debt. Thu
concentration Of great wealth has been felt
in the passing OF laws to enable. or the alb
ssnce OF laws to prevent pools. trusts and
which not only partake of,
but actually represent gambling by the few
at the ex pense of the many, and ss a result
the control OF the products of labor are
manipulated towards selfish ends.
Our speculation has resulted in fictitious
values which can be maintained only as long
as excitement prevails. and when that begins
to lag she crash comes and a clearing away
Of the deb is Ieyt ais the mangled remains
Of hard earned competencies and small
Generally the Losses fall upon
those the least able to bear it and the suf-
Fering is great, though ignored bv the more
cause of destruction. This system,
for it can truthfully be called a system, so
and persistently has it been re-
.uced to q science by a class who make it q
business has been working for years. and
ian any one question that the logical re-
suit Is dis.rnst-distrus of everything and
DistrIst of tho poor in the
and OF the wealthy class in the
poor. lndlscretion has taken the place of
and gambling has superseded good
puslness methods. Speculation has gone
30 lar as to include industrial institutions
ana debs, owed the dignity as we'll re- integ-
rlty or legitimate inveytment. The pur-
chase of lsalty ia dehased TO tho standard
OF an open gamble and is even less secure.
have beeu too generous and liberal
IN making loans, failing to disc Intimate
etwee Investment and speculation, and
IN their eaQerness 30 build up the commu-
PITY" FORGOTTEN that they were the guar
iians Of sacred trusts and c%ustodians Of the
finances OF the community as we'll as the
Another prominent causs in
my mind has been Unrestricted immipra-
hon, winch has led TO an influx of too much
iofeiRn labor to compete with our own clti-
zens. This has had Il tendency not only
TO lower tue wages of our work
NHt u W tLEOW IlD1Ehni5 or
them out OF employment and force them to
become 'livers upon their Wits" md van
dals against honest methods and legitimate
Other causes might be named as entitled
10 ser!onB consideration az leading to the
conditions. but / believe the fore.
!oin2 10 be tho tuost important. From
mem she local reasons given have grown,
ma to them our situation may be traced.
I!s useless to wuste time guessing or
Ipeculating on what might have been"
ia present duty il 10 look the situation
qua ely IN the face. seek and remove tho
'nuses. Confidence cannot be restored by
'rlLnln1 tons aud reGriminRtions between
rartlas or localities, nor by 40
'usAiinnso Of "foolIshneas" on the paftuf c4r-
AIN lndlviduqis. 1t must be done by a de-
on the part of All TO retraoe our
.tsps and JON hanu6 with those conserva-
men and methods that have main
.alheo ana are preserving during
hose dark days of depression tire
rus methods AMI elomcHts o! security
success. Educase the PEOPLE and
nasses that legitimate enterprise. are bot
@r. even II slower, thGu ~ eoulGtiona. and
tu2stitF more promising and advanta,
CONS than proalRality; that industry is
'ettef than i'd mesa mo that a dollar legiti-
nateiY earned will last longer than two
Yon Mt gambling. Let the wealthy and
he onstodinns of wealth ana trust set tho
,,kampie or economy and integrity in al
iehllngs and lend their influence TO tie Gull
OF there virtue. In the masses.
start "A naw schoo, in America ana let the
osaon be economy and integrity to oneself,
When this is once under vay this avis
from our mast aauostin, auob On