St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-02-18
AMONG THE MAGAZINES.


the public mind of social and financial
questions, the unrest that indicates
that progress is yet possible and neces-
sary, shows itself in the articles of this
and the other reviews devoted to dis
cussing the various phases. Mr.. Corn
well, president of the New York State
Bankers association, contributes the
leading article, in which he answers af-
Tentatively the question: Should the
government retire from banking?" This
involves questions of the note-issuing
functions of banks, as well as the ma
ture of banks, the relations of trade
and commerce, both to banks and note
issues, and the propriety, as well as the
policy, of issues of notes by the gov
eminent, all of which Mr.. Cornwell
treats briefly. but clearly and cogently.
The frequently met question, why
cannot great government, with it's
unlimited taxing power and credit, be
the best source of note iSsueS?' he
meets by the statement that these
notes, representing money, are the
tools of trade and commerce, and not
those of governments. AS such laws
of trade control them, trade should con-
to the extent of "a per cent of the me-
dunn of effecting exchanges with its
check money. Between this and bank
notes there is no difference. In the
entire exchanges of the country but ~
per cent is made with coin; AZ per cent
with paper and "a per cent with check
money. Why should not the trade that
supplies "a per cent be given the right
to issue the remaining AZ per cent?
Demand and supply would regulate the
quantity used, just as it does in other
commodities. The motive to have notes
redeemed would cause their retirement,
as the opposite motive to expand cir
culation would impel banks to keep
their notes out. The evil of leaving to
congress the decision of the quantity or
quality of paper money has been suf-
f1ciently demonstrated in our expert
ence, although it's unfitness might be
deduced from general principles. The
touch Of politics is adverse to the frame
of mind needed for the proper guidance
Of a governmental issuing power.
We on this side of the water Wlo
think we know the radical and ir-
reconcilable differences between the
principles of Democracy and Social
ism, have been mystifed by the recent
rapid growth of a party in Germany
styling itself the Social Democracy.
1t seems to us like union of incom-
patibles as if one would speak of black
white birds, and so one turns to the
article, 1.-THE Programme of German
Socialism, by Herr Liebknecht, the
noted leader of the German Socialists,
with the appetite of curiosity prom
iSed safety. We gather from it that
they propose the abolition Of what he
terms Capitalism which, ever in
creasingly absorbing, is taking all
wealth to itself and leaving to the
masses penury and want. This has
familiar sound here, but they are not
Democrats in whose mouths we find
it. They do not want to abolish
private property, he says, "but private
property in the instruments of pro-
duction.' This is a glittering general
ity, but when removed from an alb
straction and turned into a concrete
act, it seems as if it would abolish all
private ownership. The spade in the
laborer's hand is private property, but
when it is applied by him to spading
a garden it becomes an instrument
of production that must be confis-
Gated to the public. The contiscation
of the laborer himself follows ineyi-
ably. Labor" we are told, lis to be
organized nationally and information
ally to the benefit and in the interest OF
all, with equal rights and duties for
ALL prescribed and enforced by whom?
Instead of private production we
want to have all the economic func-
lions of society performed by, through
and for the commonwealth And
still this is not to be COMPOUNDED with
estate socialism," because "the es-
sential criterion of socialism is the
abolition of wages work, for which is
to be substituted the system of asso-
ciated work. of fraternal co-opera-
ton" And yet, mixed with this in
evitable denial of individualism in the
programme is a demand for what we
regard here as some of its essentials,
liberty of the press, of religion, of
meeting, universal suffrage, national
free education, and equal rights for
men and women. What the movement
really is, as distinguished from what 1t
calls itself, is the same that is gong
on with us, intensified there by i'm
perialis!n, officialism, militarism, and
land monopoly. The undercuTrent is
sweeping the nation towards a real
democracy, while on the surface is
borne now the idealists who dream OF
their impossible Utopia and gain adj
herents by the beautiful and attract
i've. but unattainable visions they
paint.
Henry Holt, of the publishing house
of Henry Holt & Co., has very
thoughtful article, the first OF num-
her. on ''The Social Discomfort" this
article being given to a study OF Its
causes. 1.-The most significant event
of human history he regards as the
enactment of the income tax law in
this country. EXtravagant as this
NAV. seem he sustains his assertion by
showing that it's real significance is
that it denotes the beginning "of an
era wherein the weak dictate to the
strong" 1t owes its passage purely
and simply to the desire among vast
numbers Of voters that their share of
the taxes should be paid by the rich
He finds, as all do who give to the
papers of the various labor assocla-
lions any reading, underlying the so
ciaI discomfort whose existence these
papers reveal, ignorance, credulity
and prejudice" combined with hon
esty and self-respect." Discomfort in
our country has three special causes.
"First, the spectacles constantly be-
fore the working classes, owing to
our facilities for the sudden acquisi-
ton of wealth, of people of their own
grade enjoying luxury and some sort
of position; second, the growing snob-
berry of the press; and, third, excess
i've immigration from countries where
harder conditions than ours have
given more occasion for discomfort"
In it's worst form American social dis
content is of foreign manufacture. All
the helpful, rational, temperate dis
cussion of these questions he has
heard has been by Americans; all the
crazy, destructive talk, with one ex-
ception, has been by foreigners. The
Yankee, risen out of the ranks OF
labor, is still in the whirl OF the
Ii r