St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-10-28
.S374,O00,0O0
Total

A saving or Si,00O, O0O, 900 by the pur-
chase and further saving OF 1914, 600, 900
each year Is large sum, but there can
be effected still further retrenchment.
Let the government take the roads at
their actual valuation, issuing treasury
notes in pay Tor them, the said notes
being receivable for ali debts (customs
included-nU exception clause). in fact,
full legal tender, and those notes will
pass at par throughout the country.
Abolish national banks and establish
postal savings banks; pay foreign
balances i'll gold as product-as the
bankers so recognize it now-and not
as coin, paying Therefore at the rate of
SIG per ounce in treasury notes, OF as
much less as gold would bring were it
dem0netized, which money would be Of
the same value when used to pur-
chase any other product. This
least 1850, 900 more per annum.
This, added to the 1914, 600, 600, makes
saving OF 734,0GC. 900 each year, be-
sides that effected directly by the pur-
chase. A large portion of this is owed
abroad, and is paid i'll products, OF gold,
if the other products taken by them do
not suffice to pay the amount due. The
balance has for some time been against
US on account of the great purchasing
power of the money due them. Elm
mate several hundred millions from the
balance against us each year, which can
be done ICY the government purchasing
the railroads, and the balance would b..
against them, and we could demand
from foreign powers whatever product
we needed in payment OF that balance.
t +
In order to satisfy those who do not
believe that the fat of the government
makes money, it would, perhaps, be
, necessary 10 show that there is some
thing back of the currency. The roads
| at the present time are considered as
| being good for 10000. GOO, coo of bonds
and stocks interest and dividend bear
| ing). and they should certainly he
! ample security for $4,000, 900. 900 of legal
| tender. misunderstanding currency.
| Out of the saving. as shown, of 1884,
| 100000 year there could be estab-
| lished sinking fund of 1900. 900, 600
| each year. and the traffic given the BEN
eft of the balance. Legal tenders to
| the amount OF S200,U00.000 could be re-
! tired and cancelled in lieu of the sink
| ing fund; or, what is better, used to
| buy the telegraph, coal mines, and other
| industries which should belong to the
government. By keeping the circula-
| capita, there would be an ample circu-
lating medium, and. by using the profits
on the different investments, an ever
| increasing basis of circulation.
+
Objections have been raised as to the
ACCESSIBILITY of the government assum-
ing control of railroads from political
| standpoint. OH the ground that it would
add to the ranks of those who feed off
the patronage of the party, aud thereby
| add an immense army to those who were
| interested i'll keeping the dominant
party in power. A rigid civil service
would guard in a great measure against
| this evil. Let us look at the character
of the men with whom we are dealing,
those in whose hands we desire
to place this great trust, and
| on whose integrity and sterling
worth will depend in great measure
the success or failure of government
ownership Of railroads. A railroad man
must possess clear head, quick eye,
keen perception and gond reasoning
powers. The pature of his calling de-.
| man6s these, and how many have owed
their lives to these very qualities in men
! OF this class. Such men are not bound,
nor never will be, ito any party or clique.
| They can be depended un-at all times
| and under all clrcumSthnceS-t0 stand
by their train, at the throttle or
any other position, while there
is o ghost of a chance of
their services being OF any avail.
These same men responded by thou.
sands to an appeal from their comrades
last spring, giving evidence to the
world that there is a brotherhood of man
which the haired and distiust engen-
dered by the competitive system has
merely served to strengthen. These are
the men in whose hands we wish to
place this trust; they ask it, and the
asking is pledge in itself that they will
deal with it as they have with all 0theI
trusts repoSed IN them-to the interests
of their brothers. Men who can see
the necessity for a reform and can de-
wise means for inaugurating it can al
ways be depended OIL to see that theil
ideas are carried out for the benefit Of
the whole people.
| RnIEpT fApnCN