The Caucasian. (Clinton, N.C.) 188?-1913, 1894-05-31


bic. no objection can De made 10 the
pEoc, dHre- Bat this i. never done
now. The receiver takes the road
from the owners and operates it in
its own say. he aud all his acts being
exempted from the operation Of the
common Law, with an occasional sug-
gestion from the court, which be
recognizes as sort Of partner IN the
business"
TIE TELEGRAPH.
The same interests that demand
the government ownership of rail
ways requires that the telegraph shall
be utilized as part OF the postal
system of the country. Ii i The
plain duty of the government to
furnish Us with the quickest mail
facilities. There Is no ress3n why
letters car not be transmitted by
lightning Is WI a. By steam.
MONEY.
Produce is exchanged with money
\ the formation our Cover ment,
and for three generations thereafter
the people possessed the right to
carry their geld and silver bullion to
the pubhc minis and have it coined
into money which was legal tender
for the payment Of all debts, public
and private. This right was free
and without limit. They also pos
sessed during this long period of
time the right in every state to issue
paper money under laws prescribing
basis Of circulation. Of these
sources Of money supply but one re
mains free to free people The
right To issue pape~ money has been
taken from the people and conferred
upon the owners Of government
bonds, and the right to coin silver
into money is denied altogether.
Since our principal source of money
supply was cut off by the demoneti-
cation Of silver our money has no
longer continued to bear the same
relation to the food we eat, the
clothes We wear, the property we
own, the labor we perform and the
debts We owe that it had borne for
centuries. We all know the fatal
effects of that one act of financial
legislation by which pIutocracy more
than doubled its power and posses
sions in the United States, and bv
which the property Of every man in
debt was practically confscated, and
by which the value of labor was sub
stantially destroyed.
am in favor Of the free and unlim-
tied coinage of silver at the ratio of
l6 to |, and the expansion Of the cir
culatlng medium Of the country by
the Issue by the general government
| OF legal tender paper money in suffi-
Gent volume to restore prices to
basis Of adequate profit aud prevent
| unnatural fluctuations in values. The
national banking system is a mono
poly that fails to supply the people
with sutficlency of paper money
and affords no adequate security to
| depositors When one of these insti-
tutlons fails the secrecy with which
the process of liquidation is con-
Quoted compels poor depositors to
| sell their accounts to spectators,
who alone can obtain the information
which properly belongs to the public.
The establishment Of postal savings
| banks will furnish safe place of de
| posi- for the earnings Of the people
and prevent their further robbery bv
the prevailing system. The disloval
practice and privilege Of dishonoring
the money Of the government by dis
eliminating in public laws or private
contracts liz favor of one kind and
against another kind of legal tender
should be prohibited by act of con
gress.
INCOME AND INHERITANCE TAX.
IL 1860 the wealth Of the country
was very evenly distributed. Ninety
one per cent Of the people held in
fail and even measure 81 per cent. of
the wealth. The census Of 1890
shows that the conditions of 1900
| have been reversed. Nine per cent
Of the people now own ST per cent
of the wealth. The 1000 multimil-
linaires in the United States own over
81, 900 100000 of wealth, which is
| 30 per cent more wealth than the 3d.
900, 900 members of the wage working
class own. The corporations of the
country own One-half of all the
wealth in the country, the railway
corporations owning One-sixth. In
their last analys all federal taxes
are paid by consumers from the in
comes whether these incomes are de
rived from the invested capitol of
the rich or from the sale of their la
Dor by the poor. Shall these taxes
amounting to $500.000.000 yearly
continue to be exacted from consul
mers without regard to their proper
ty OF incomes? The corporations that
own one half Of the wealth of tne
country do not contribute dollar to
the support Of the general govern
ment. Our 1900 multi millionaires
contribute only to the tax on the IL
quors, tobacco and imported wares
they consume. All the rest of US
contribute to the same extent.
The only way to compel the rich
to bear their just proportion Of the
burdens of government is to tax their
incomes while they live and the
right of their heirs to succeed to their
possessions when they die. In the
language of Senator john Sher-
man, spoken in congress twenty-five
years ago:
"A few years of further experience
will convince the whole body of our
people that system of national taxes
which rests the whole burden of taxa
ton on consuptiou, and not one cent
on our property or income, ia iptrin-
sically unjust. While the expenses
of the national government are large
ly caused by the protection, it is but
right to require property to contri-
butte to their payment"
| THE TARIFF.
am now a1uayS bava bao, - o.