Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-04-12

proceeds take up and cancel the legal-ten
ders and the treasury notes. What. !
somebody says, Incur an annual interes
charge of fifteen millions a year, wher
the same amount can be floate(
without INTEREST,"" Yes, thirty mil
lions If necessary. 1t costs something
10 be honest 1t costs something to live
and pay ones debts. This interest charge
is bagatelle compared with the stupen
dous loss which this daily menace has
cost this country. Using these bonds as
a basis for circulation permit the banks te
issue up to par of the bonds allow the
banks to increase or decrease their circu-
lation at will, the department keeping Oh
hand sufficient blank notes to meet call
without delay; decrease the tax on circu-
lation to not exceeding ne-fourth of one
per cent. per annum; maintain the pro
visions of the present law as to redemp.
ton of notes; make the notes legal ten
der for all debts, public and private. IN
less, perhaps duties on imports, for which
it might be necessary to require gold,
with which to meet gold bearing obliga-
tlons,-and available to banks as part of
home reserve.
This would take the government out OF
the banking business and leave it in the
position of stake holder, merely, guar
antee of good faith and absolute justice
between payer and payee.
1t may be said that sooner or later the
government will be able to pay its bonds,
entirely, and then we must have a change
Well, gentlemen, it will be time to cross
that bridge when we come to it. With
the marvellous possibilities in the future
of this country, with the Improvement of
its harbors with the development of its
great natural water ways, with the con
struction of its inter-oceanic canal, with
the building of great water highways
from lakes to gulf and from river to sea,
with the construction of worthy navy
and suitable coast defences, with the cree
ton of stately public edifices, and the
acquisition, it may be, of new and valua-
bic territory, with all the splendid Wis
ions of prophecy before our eyes,-w
need not doubt, or fear the creation of
legitimate and wisely contracted debt. 1t
is the debt which every business man
makes when he borrows, that he may in
crease his own. 1t is the wise policy of
him who had the ten talents.
have no desire to see this government
out of debt, for, to me- this would mean
stagnation.
Gentlemen, these matters are of vital
interest to every one of US. They affect
the integrity as we'll as the property of
every person in our domain. They are
entitled to your thoughtful consideration
Whatever proposition may be made, to
surrender, whatever specious plea may be
sung to your listening ears, hope and
expect, that this association, representing
the busineIs acumen and intelligence of
the best city of the best State in this
Union, will declare itself unrcservedly in
favor of the maintenance of the financial
integrity of this government; will insist
that there can be but one code of honor
for nation and individual; will demand
that wherever floats the Stars and Stripes
there shall be but one standard of honor
or Of value, and every dollar which bears
the sign manual of the United States shall
be the equal of every other dollar whether
issued in 1.-THE Land of the Free or in
the most favored nation of the Eastern
Hemisphere. Applause.
yourselves was the subject treated by
Mayor Millilen, in an interesting and en-
tcrtaining manner. He said that we
First individually, and our relations to
the board of trade; second as members Of
the organization and the demands at
our hands third, our relationship and
duty as citizens of Augusta.
The board of trade he considered was
committee of the city's citizens to whom
the commercial interests of the city were
entrusted and to the members fell the
consideration of the business propositions.
that would aid in the industrial and bust
nesT advancement of the city. The board
should exercise vigilance in seeking for
the features of commercial interest and
value t. the city, to endeavor to increase
the business facilities and to make Au-
gusta most desirable place in which to
reside and do business. In speaking of
this city Mr.. Milliken said that we are
under very favorable conditions for inn
provement, this being the capital city men
of wealth and influence are brought here
on State business and otherwise. 1t
should be the idea of every citizen and
member of the board of trade to make the
city great business center and AN enjoy
able, pleasant and beautiful place ia which
| to live. We should impress outsiders that
we are progressive and always endeavor-
ing to enhance the value Of our industries
and upbuid the city. Our street improve
ments, elegant dwellings, handsome pub
lie buildings, and other points of beauty
should all be made means of inducing
business men to come here and expend
their money. Attention should be given
to the facilities for carrying on the bust
ness of shipping; the railroad and water
communication should be made the best
possible.
1t should be the object to increase the
industries of our city and extend induce
ments to men of means to locate on the
picturesque Kennebec and erect establish
ments that tend to increase the popuia-
ton, enhance the value of property, aud
build up the commercial interests of this
section. Whether capitalists business
men OF young men, all should be filled
with the public spirit for the welfare OF
our city. The young men of today will
be the business men of tomorrow, and
the capitalists of the future While their
means may now be limited they should he
forcibly impressed with the idea that
upon them largely depends the future
| oopar;tv of Auvi1s.a and vicinity