Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1896-12-10

with the gravest peril and perplexity. The
terrible civil war which shook the foundations
OF our government more than 30 years ago
brought In Its train the destruction of property,
the wasting of cOuntry'S substances, and the
estrangement Of brethren. These are now
past and forgotten Even the distressing loss
of life the conflict entailed Is but a sacred
memory, which fosters patriotic sentiment and
Keeps alive q tender regard for those who
nobly died, and yet there remains with to-
day, In full strength and activity Incl
dent of that tremendous struggle, feature of
Its financial necessity not only unsuited to our
present circumstances, but manifestly dis
turbing menace to business security and an
ever present agent OF monetary distress
Because we may be enjoying q temporary re-
lief from its depressing fnfiuen this should
not lull us into false security nor lead US to
forget the suddenness OF past Wis ,tation am
more convinced than ever that we cannot have
assured financial peace and safety until
the government obligations upon which gold
may be demanded from the treasury are with
drawn from circulation and collected. This
might be done. as has been heretofore recon-
mended, by their exchange for long term bonds
bearing low rate of interest, or by their re-
demption with the proceeds of such bonds
Even If only the United States notes known as
greenbacks were thus retired it 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 disturbance. as they might from
time to time. when received In the trea sury by
redemption in gold or otherwise be gradually
and prudently replaced by silver coin.
This plan of issuing bonds for the purpose OF
redemption certainly appears to be the most
eHectlVe and direct path to the needed reform.
In default Of this, however, it would be q step
In the right direction if currency obligations
are redeemabie in gold whenever SO redeemed
should be cancelled instead Of being reissued.
This operation would be slow remedy but it
would improve present conditions.
National banks should redeem their own
notes. They should be allowed to issue circu-
Ia To fE1ov 0F1% a
security for it's redemption and the tax on
their circulation should be reduced to one
fourth of one per cent
In considering projects for the retirement of
United States notes and treasury notes issued
under the new law Of 1890 am of the opinion
we have placed too much stress upon the dan
ger of contracting the currency and have CAL
culated too little upon the gold that would be
added to our circulation if invited to us by bet
ter and safer financial methods. 1t is not so
much contraction of our currency that should
be avoided as its unequal distribution This
might be Obvfated and fear of harmful con-
traction at the same time removed by allowing
the organization of small banks and in less
populous communities than are now permit ed
and authorizing existing banks to establish
branches in small communities under proper
restrictions.
The entlre case may be presented by the
statement that the day of sensible and sound
financial methods will not d avn upon US until
our government abandons the banking BUSH
ness and the accumulation of funds, and con-
fines its monetary operations to the receipts
OF money contributed by the people for it's
support, and to the expenditure of such money
for the peoples benefit. Our business inter-
ests and all good citizens long for rest from
feveriSh agitation and the inaugurati on by the
government of reformed financial policy
which will encourage enterprise and make
certain the rewards of labor and industry.
Trusts and MOnODOlies.
Another topic In which our PEG pie rightfuly
take deep interest may be here briefly con-
Sldera6 I a of md
other huge aRgregationS of capital, the object
OF which is to secure the monopoly of som e
particular branch of trade, industry or ON
merce and to stihe wholesome competition.
When these are defended it is usually on the
ground that though they increase profits they
also reduce prices and tn US may benefit the
public. 1t must be remembered. 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 1T occurs In particular it
is only because 1t accordS with the purposes
or interests of those managing them
Such occasional results fall short of compen-
Sating the pa1pable evils charged TO the ac-
count of trusts and monopolies' Their ten
dency is to crush out individual independence
and to hinder and to prevent the free use of
human faculties and the full development of
human character. Through them the farmer
the artisan aud tho small trader is in DANCE
Of diSlodgement from the proud position of be-
ing his own master watchful of all that
touches his country's prosperity. in which he
has an individual interest in all that affects tn
advantages of business of which he is factor,
to be relegated to the level Of q mere appurte-
nance to a great machine. with little free will.
with no duty but that OF passive obedience and
with little hope or opportunity of rising in the
scale of responsible and helpful citizenship.
To the instructive belief that such is the inevi-
table trend of trusts and monopolies Is due the
widespread and deep-Seated popular aversion
in which they are held and the not unreasona-
BILE insistance that whatever may be their in
ctdental economic advantages, their general
effect upon personal character, prospects and
usefulness can not be otherwise than injurious
Though congress has attempted to deal with
this matter by legislation the laws passed for
that purpose thus far have proved ineffective
not because of any lack of disposition at
tempt to enforce them but simply because the
laws themselves as interpreted by the courts
do not reach the difficulty. II the insufficient
cieS of existing laws can be remedied by
further legislation it should be done. The
fact must be recogniZ ed, however, that al
federal legislation on this subject may fall
short OF its purpose because OF inner
ent obstacles, and also because of the com plez
character OF our governmental system. which
while making the federal authority supreme
within its sphere has carefully limited that
sphere by metes and bounds VIII ich cannot be
tranSgresSed. The decision of our highest court
on this precise question renders it quite doubt.
full whether the evils OF trusts and monopolfes
can be adequately treated through federal &C.
tion unless they seek directly and purposely &c
include in their objects transportation or in.
or hefW he