Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-12-17
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FINANCIAL.
This reference to the condition and PROS
poets of our revenues naturally suggests an
allusion to the weakness and Vices of our
financial methods. They have been FREE
| quently pressed upon the attention of the
Congress In previous executive cOmmunica-
| lions and the Inevitable danger of their con.
tinued liberation pointed out Without now
repeating these details, l cannot refrain
from again earnestly presenting the neces-
slty of the prompt reform Of system OPP
posed to every rule of sound finance and
shown by experience to be fraught with the
gravest peril and perplexity. The terrible
| civil war which shook the foundations of
our government, more than thirty years
ago brought IN its train the destruction OF
property the wasting OF our country's sub
stance, and the arrangement OF brethren
These are now past and forgotten, Even
the distressing loss OF life the conflict en-
tailed Is but sacred memory which fos-
ters patriotic sentiment ana keeps alive a
tender regard for those who nobly died
And yet there remains with us to-day, in
full strength and activity as an incident Of
that tremendous struggle feature Of It's
financial necessity not only unsuited to our
present circumstances, but manifestly a
disturbing menace TO business security and
an ever present agent OF monetary distress.
Because we may be enjoying a temporary
relief from Its depressing influence this
should not lull us into a false security or
Lead us to forget the suddenness OF past vlsl-
tation' | am more convinced than ever that
we can nave not assured financial peace and
safety until the government currency obli-
cations upon which gold may be demanded
from the treasury are Withdrawn from Cir
culation ana cancelled. This might be done
as mas been recommended, by their exchange
Tor long term bonds bearing q low rate OF
Interest, or by their redemption with the
proceeds OF such bonds
Even II only United States notes known as
greenbacks were thus retired II is probable
that the treasury notes issued In payment
of silver purchases under the act OF July
IA, 1890, now paid In gold when demanded,
would not create much disturbances, rs they
fright from time to time, when received In
the treasury by redemption OF gold or other
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cnmniotIon ~ fnnds ana co,'a,es I ~ ~
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TRUSTS
Another topic In which our people right
fully take deep interest may be here
briefly considered l refer to the expanse of
trusts and other huge aggregatlons Of capt.
tai, the object OF which IL to secure the mo-
nopoly OF some particular branch Of trade,
industry or commerce, and to stitie whole
some competition. When these are defended
II Is usually on the ground that though they
increase PROFITS, they also reduce prices and
thus may benefit the public It must be re-
membered, however, that reduction OF
prices to the people Is not one OF the
real objects OF these organizations,
nor Is their tendency necessarily In that
direction. II II occurs in a particular case
IL is only because IL accords with the MIR.