The advocate., 1895-06-12


boosted 80 much. Those having fixed in
come are always secure. Commercial dis
turbanOes do NOT reach them. Depression
in prices increases their income By inorsss-
ing the purchasing power Of that income.
So they are fortified against the risks shat
the rest Of us are subject TO. But why
should they also be specially fortified
against taxabionP The rest Of US are sub
ieot TO any law shat congress may, in it's
wisdom and view Of justice, enacti but
these favored few with fixed incomes and
nothing TO do, need mot worry about con-
greas; che courts will see that not a dollar
of their precious incomes 10 disturbed, how
ever great the needs Of che treasury may be.
Things are not right, axe
they2 MonarChioal countries have income
taxes far heavier than was enacted here
last winter, and all Glasses must stake their
medicine" alike. Wealth seems TO OOrrupt
most in republics. Let as
have the income tax but without special
favor TO bondholders and landlords. Yes,
and let US have q graduated inheritance
tax also, going as high as so per cent. in the
case Of multi. milGonaires. This Will rid
us Of these sxOresCenSes in a few genera
tions. No man ever earned a million dol
lars, but some have "oaptuEed" that amount;
it is only just that a portion Of such fortunes
be returned TO the community at the death
Of the 'CsptOr.". The people wants both
these measures, and they would soon have
them if they had direct aud accurate means
of getting whAt they want, The initiative
and referendum is the means through
which the people may get whatever they
want.
4
We just now hear more Of an enlarged
currency than anything else. People have
just awakened to 10, yet the evil Of currency
not adjusted 70 She needs Of commerce has
been with US for years. Examine the sta
tistiCS Of the supply Of gold and silver in
the past century and see how unsteady and
irregular their supply has bsen--While pop
ulatiOn and business increase with a steady
growth. Go TO the official reports or pick
up any pamphlets on either side Of the gold
question OF the silver question. You will
find an irregulary early production Of either
metal. Neither is good basis for our busi-
ness life. Such business should be stable
and gradually expanding, just like pOpula
tiOn and commerce. The best part Of
"COin's Financial SCHOOL, is quoted in our
review columns. Whatever substance our
currency is made Of, il should be sufficient
in quantity for the cash transaction Of the
business Of the country. "Yes," says one,
''but il must have q gold basis" Do our
postage stamps need a gold baSis2 and did
you ever know them 10 bs below parS EK-
tend our currency Oonvenienoes along the
same lines, and the problem is solved. II
the government should own and conduct
the telegraph, il could issue currency re-
oeivabls for telegrams just as postage
stamps are receivable for postage. That
currency would be at par for other things
just 40 postage stamps are. You could send
a dollar in that currency for The Medical
World, just like some now send postage
stamps. Suppose the government should
own and oOnduOs the railroads Of the oOun-
Try, and issue currency receivable for pas
senger or freight service. Don't you think
that currency would "gO" for other things
as well2 We would receive il here for The
World just as we now receive postage
stamps. This would be a currency based
on service rather than on metals. But we
need not wait till the government gets the
telegraph and the railroads. The govern.
ment serves us constantly; il costs about
6OO million dollaBa a veaP 10 run the QoyeHn. q.