The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1896-12-08
'kESIDENTS MESSAGE
Continued from Page oae.

n ~ aunE tnsse oetsfN. 1 eanGCt refrain
from again earnestly presenting the neces-
sitv Of the prompt reform Of a system op- |
posed 20 every rule Of sound finance and |
shown by experience 70 be fraugbt with the |
gra,tst peril and perplcxity The terrible /
civil war which shook the foundations Of |
our government more than thirty years |
aaO brought In Its train tue destruction OF |
property, the wasting Of or counTys sub |
stance aud the enlargement Of brethren.
rhese are now past ana forgotten Even
the distressing loss Of life the conflict en-
tali,als but sacred memU " which fos-
tets patriotic sentiment and Keeps alive
tender regard for those who nobly died
And vi there remains with us to-day, in
atu strength and activity as an incident of
mat tremendous struggle feature Of It's
financial necessity not only uusuitcd TO our
present circumstance but manifestly
disturbing menace 10 business security and
an ever present agent OF monetary distress.
Bscsusc wc may be enjoying temporary
relief from its depressing influence this
should not lun us into a false security or
cad us TO forget the suddenness of past vlsi-
cation am more convinced than ever that
e., can hsye not assured financial peace ana
safety until the government currency ubli-
satious upon which gold may he demanded
from the treasury are Withdrawn from cir
culation and cancelled This might be done
as has been recommended. by their exchange
f1t lou1 Seru bonds bearing low rate OF
utoref o. by their redemption with the
proceeds ot such bonds
Ercn 81 only United states notes known as
rreenbasks were hus retired It is probable
that the Treasury notes issued in payment
OF silver purchases under the act OF July
~ 1890 now paid Ia gold when demanded,
| would not create much disturbance, as they
might from time 10 Tins when received in
| the treasury by redemption of gold or other
| wise, be gradually ana prudenhy replaced
by SILVER coin. This plan OF issuing bonds
/ for the purpose of redemption certainly 3p-
| pears TO be the most effective ana direct
] path to the needed reform.
In default Of this. however il would be a
| step IN the right direction II currency obll-
/ cations redeemable in gold whenever so
/ redeemed should be cancelled instead OF be
/ ing reissued This operation would be a
! slow remedy but IL would improve present
] conditions.
/ National banks should redeem their own
notes. They should be allowed Ca issue cir
| culation to the par value OF bonds deposited
as security for its redemption ana the tax
on their circulation should be reduced 10
| ons-fourth Of / per cent The entire case
| may be presented by the statement that the
day Of sensible and sound financial method.
will not dawn upon MS until our government
| abandons the banking business aud the ac-
| Cumulatlon OF funds. and confines its none
t2ry operations 10 The receipts of money
| contributed by the people for It's support
and 10 the expenditure OF such mosey foI
the peoples benefit our busiuess interest.
and all good citizens long for rest from lev.
erish agitation and the inauguration i,g the
government Of reformed financial policy
which will encourage enterprise and make
certain the rewards Of tabor and Industry.
TRUSTS.
Another topic in which our people right
fully take a deep interest may be here
| hrfEHNF ruuefIareD I "a faf a
trusts and other huge aggregstions of -1pi-
tai the object OF which IS to secure the mo-
nopoly Of some particular l1uch of trade
industry or commerce, ana 10 stl1c whole
some competition. When these are do fcnde,
II Is usually on the ground that though they
increase profits, they also reduce prices an,
thus may benefit the public II must he re
me mbcrcd, however, that a reduction o.
} prices TO the people is not one of M
real objects Of these organiZati ons
nor is their tendency necessarily iu tina
direction. If IL occurs in a particular cas-,
II is only because IL accords with the pur
poses or interests of those managing thei
scheme. Such occasional results fan shor
Of composing the palpable evils charged 4
the account of trusts and monopolies Thei
tendency is TO crush out individual inde
= pendenCe and TO hinder and to prevent IN
! free use OF human faculties and the fun dc
yelopment OF human character.
D Though Congress has attempted TO dea
Z with this matter by legislation, the law
4 passed for that purpose thus far hav
4 proved ineffective not because of any lack O
> disposition or attempt 10 enforce them bu
) simply because the laws themselves as In
terpreted by the courts do not reach IN
2 dinculty. If the insuhhciencies OF existin
laws can be remsdied by further legislation
4 IL should be done. The fact must be recog
: nized. however, that all federal Legislation
) | on tins subject may fan short OF its purpOs
, because OF inherent obstacles, ana ais
because Of the complex character of on
I governmental system, which, while making
Z the federal authority SUI rene within IL,
there, has carefully limited that sphere by
) met0s and bounds which cannot be trans
gressed. The decision of our highest cour
% this precise question renders II quit
2 doubtful whether the evils Of trusts and mo
: nopolies can be adequately treated throug
| federal action unless they seek directly AM
s purpOsely TO include in their objects trans
. portation or intercourse between states o
g between the United states and foreig
: countries
= II dees not follow, however, that this Is IN
q limit Of the remedy that may be applied
: Even though II may be found that fedora
Y authority IS not broad enough TO fully rcac
the ease there can be no doubt OF the powe
Of the several states 10 act effectively In IN
. premises ana there should be no reason [
\ doubt their willingness TO judiciOusly cNeI
else such power. Ia concluding this com
q munication lis last words shall be an appel
G 10 the congress for the most rigi
q economy IN the expenditure
n the money 1t holds in trust 10
a the people. This way 10 perpleXing extrava
- Fanoe is easy, but a return 10 fruRality
y dlnicult when however II Is considere
z that those who bear the burdens of tAxatiO
have no guaranty of honest care save in N
ndelity OF their reliable servants, the dut
a Of all possible reuenchment is plainly man
= fest
3 When our ditfcrcnCcs are forgotten an
= our contests Of political opinion are I
q longer remembered nothing IN tnc rttr
y spect OF oar public service will be as tortl
y nate ana comforting a. the recollection
q omclal duty well performed and the mrmoi
q Of a constant devotion 10 the iutcrt,ts oi. ul
. conddine tclloW Countrymcn.
y GROVER NItNEf.kNu
9 Executive Mansion, Decenhcr o log6.