Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1895-11-01

Create plenty OF ca1n, they say! ana the
millennium win be upon Us, with all Of
its beneioent results. There could be
no greater error. Provide for the rapid,
safe and economical interchange of com.
modities, and you have furnished all the
money required This danger. however.
threatens rs at ,tlmes-too much credit
money. Ii other words, too much OK.
Ipansion Of credits. g When we reach
such a condition, the inevitable result
follows, and q monetary cataclysm
is the outcome. scattering ruin
and misery. a *, az.
Perplsxities Of Providing Adequate Nom
49, etary System. S.. 5@ss
To provide any fiscal system
that will avoid commercial crises
with certainty, is to my mind,
unattainable, but to secure plan
that will mitigate the evil and make its
effects less baneful, can be attempted
with hope. How important then, that
we secure bank currency that can
with certainty be relied upon to pass
from view as soon as it has performed
its functions, thus avoiding the menace
OF too much paper money with the
resultant effects. Unfortunately, as
many think, we have not, up to this
time, been able to devise, or at least to
put into execution, any satisfactory
plan for furnishing the nation with a
paper currency at all adequate to the
commercial situation as we find it at
the Threshold Of the twentieth Gen.
fury. Wonderful in commercial
achievements, unprecedented in the
worlds history, in the highest stages Of
civilization with all the concomitants Of
a rich and powerful people, enjoying
the highest blessings ever vouchsafed
to q prosperous nation, we stand,
confessed, today, in the presence
of every commercial competitor, as
having monetary system inadequate
to the demands OF commerce as we'll as
one fraught with the greatest dangers to
the welfare of every citizen OF our
country. With as many kinds of mon
ey as there were colors in Joseph's coat,
this country Of enormous resources and
Of unlimited opportan ties is without
any well defined financial scheme, suit
abe to conduct it's business and main
tain its credit. The an-absorbing topic
before the American people today ought
to be the question Of providing sound
financial system. Political parties may
argue upon the merits Of various plans
for producing the requisite revenue for
paying the expenses OF the government.
They may wage war upon one another
concerning the excellence of the Amer
lean policy of protection or the manifold
advantage Of free trade, the result IN the
end will be to secure sufficient funds to
meet the demands Of the government.
1t is, after all, an honest difference Of
opinion as to the better way to accom-
plish the same purpose. Members Of
congress may very properly insist upon
q generous plan OF internal improve
ments, or rigorous enforcement Of the
Monroe doctrine, or the Thousand and
one other important matters for con-
liberation that come into the national
legislature, but no subject today before
the American people is of such vast
moment as the one we have now under
discussion. 80
Finances Connect Themselves With Ev-
The very life blood Of the great ar
teries of commerce is in constant danger
owing to the lack Of appreciation OF the
this important function Of our industrial
system. E.uimmt il. T.. l&'@t
, A Canadian gentleman speaking upon
this subject says that in pamphlet on
American finances written in 1874, he
R,,1 hn oil q
French writer:
s'The French finances connect them
selves, on all sides, with all our past and
present history; with all our history,
monarchical or republican. political and
religious, economic and social; with all
our victories as well as of all our
disasters, with all the aspects and all
the progress of our administration, with
all the conquests of our industries, of
our agriculture and our commerce, with
all the achievements Of our art; in a
word, with all the epochs which have
made famous the name Of France. For
it must be said, and said whatever men
may think of it, that the finances touch
everything. They are in the state what
blood are in the veins Of the human
body; if it circulates, it carries along
with it motion and life. If it stops,
paralysis and. death supervene. Good
organization, good administration, a
good condition Of finances, exert there
fore, imperiously everywhere and al
ways. positive healthful and vivifying
action upon the government of coun-
try and the prosperity Of its people,"
Monetary Influence Not Fully Under
3 ..4 - ~. stood.
It would appear as though we did not
fully estimate the enormous influence
of an imperial monetary system upon
our national life. The question is mo-
mentous, and has been from all time in
the history of nations. ....... ...
The worlds pages are full Of costly
experiments, disastrous failures and
dishonorable regulations, the out
growth of ignorance and too often Of
vice. We all know the misery, hard
ship and the despair that fall to the lot
of people engu1fed in the abyss of a
financial panic. Wrecks are strewn
over the sea Of commerce and the
bravest and best are forced to stand idly
by as their life's work is torn from
them. The furnace fires no longer
glow. The whirr> Of the spindle is
hushed. The anvil ceases its chorus.
1 VYYV l. L. L.