The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1896-12-11


7leihlY msuifest
Gar Financial Histhads.
This reference 50 tho condition Eud pFos-
pects Of our revenues materially suggests 50
dlltaig5 70 the weakness and Tiess Of cur faaHs
oial methods, They haTe been fgelueEtig
4 bfessed upon the atssRtoR Of congress IN prs-
3f5Us executive commit ieatioas and fhe tas
/ eSitabis danger o. their Continued t0lefation
pointed Odt without now repeating these de-
tails cannot reitais frem sgain earnestly
1 presenting the necessity O. the prompt reform
/ Q! 4 system opposed 70 every ruie on sound
! finance aid shown by experience 10 be fraDght
with the gTavest Fsfh and perPlexity Ths
I terrible civil war which sh55E the foundations
/ OF our government more than p years $50
brought 10 its train the destruction OF pfJl8Ftgi
| the wasting Of OOuEtEy's substances. and the
I enlargement Of brethren. These are nov
/ past aHd forgotten Even the distressing loss
Of lie the conflict enssilsd Is but 9 sacred
{ memory, which fosters patriotic sentiment and
| Keeps alive a tender regard i0r those Who
HoUly died, and yet there remains with us to-
/ DAY, in full strength ana activity as an ilOI-
| dent Of that tremendous struggle, feaiUFS OF
| its financial necessity not only uHsuited 80 our
l present circumstances, but mauifestly q dis
| tRrbing menace 70 business security and ca
/ ever present agent Of monetary distress
/ Because We may be enjoying q temporary re-
! lief from its depressing influence this should
hot lull Us into Z false security nor lead rs ~
| forget the suddenness Of pass visitation ] am
more confiEeed than ever that We cannot have
assured financial peaes and safety until
/ the government obligations Upon Which gold
may be demanded from the treasury are Wlths
dfaHn from circulation and collected This
might be done as has been heretofore reccm'
mend8d, By their exchange foF long term bonds
/ bearing a low rate Of INTEREST," ~ by their re-
demptiou with the proceeds Of such bonds.
/ Even II only the United States notes knoEn IS
| gresnbacks we're thus retired, IL is probable
that the treasury notes issued IN payment Of
silver purchases under the act OF July Il, 1899,
/ now paid In gold when demanded, would not
create much disturbance, as they might from
time to time, when received Ia the trea sury by
/ redemption In gold or otherwise be gradually
/ and pFudentIy replaced by silver coin.
! This plan Of Issuing bonds for the purpose %
/ redemption certainly appears 20 be the most
elective aud direct path 10 the needed REFORM
In default Of this, however, it would be o step
in the right direction Il currency obligations
| sT6 Fedeemabs Ia gold Whenever so redeemed
sh6uld be cancelled instead OF being Teiss1ed.
/ This operation would be a SLOW remedy, but 80
would improve present conditions.
National banks should redeem their own
notes. They should be allowed 70 Issue circus
latiOR to the par value Of bonds deposited as
! security for its redemption ana the tax on
/ their circulation should be reduced 70 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 Opinioh
/ We have placed too much stress upon the dan
] rrnr ~ rnff hn hnv
/ Culated too little upon the gold that would be
added to our circulation II invited to US by het-
! ter and safer financial methods. It is not so
/ much contraction Of our currency that should
/ be avoided as its unequal distribution. This
might be obViated and fear OF harmful con-
/ traction at the same time removed By allowing
4 the organization of small banks and Ia less
] populous communities than are now permitted
/ aud authorizing existing banks 10 establish
| branches in small communities under proper
restrictions
! The entire case may De presented by the
! statement that the day OF sensible and sound
! financial methods will not dawn upon us until
| our government RbsndOns the banking busis
ness and the accumulation OF funds, and con-
fHes its monetary operations to the receipts
/ OF money contributed by the people for its
/ support, and to the expenditure Ofsueh money
/ Tor the peoples benefit Our business inter-
ests and all good citizens long for rest from
/ fevsrish agitation and the Inauguration by the
/ government Of 3 reformed financial policy
which will encourage enterprise and make
/ certain the rewards Of labor and industry.
Trusts and mOnODOIies.
/ Another topic in which our people rightfuily
/ take deep interest may be here briefly c0na
/ sideFed. refer to the expense OF trusts AM
other huge aggregstions OF capital the objecs
| OF which is to secure the monopoly Of some
| particular branch Of trade, industry, or c Om-
merce and TO stihe wholesome competition.
/ When these are defended Il is usually on the
/ ground that though they increase profits they
I also reduce prices and II Us may b0left tins
public 1t must be remembered. however, that
q reduction Of prices to the people is not one Of
| the real objects Of these organizations, nor is
/ their tendency necessarily ia that direction,
/ II it occurs Ia q particular case 10
/ Is only because Il GccOFds with the purposes
or interests Of those managing them.
! Such occasional results fail short Of compeB-
/ sating the paipabje evils charged 10 the ace
/ count Of trusts and mOnOpolies. Their teus
| deRcy is to crush out individual independence
| and TO hinder and TO prevent the free use OF
/ human faculties and tbs full development OF
! human character. Through them the farmer,
/ the artisan aud ths small trader is IN danger
/ OF dislodgement from the proud position Of be-
/ ing his own MASTER, Watchful OF ell that
/ touches MS cOuhtry's prosperity, In which hs
has an individual interest In all that Affects the
! advantages Of business Of which he is q factor,
to be relegatsd TO the level Of mere appurte-
nance 70 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 ineYi-
/ table trend OF trusts and monopolies Is due the
/ widespread and deep-seated popular aversion
/ IA which they are held and the not unreasOna-
! bic iusistanCe that whatever may be their in-
/ cidental 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 OF at
/ tempt to euforce them but simply because the
! laws themselves as interpreted by the courts
! DO not reach the difficulty. Il the insuhirieE-
/ ciss Of existing laws can be remedied by
/ further legislation it should be done The
/ fact must be recognized, however, that al
/ federal legislation on this subject may flu
short OF its purpose because OF inner
I e1b O91tatt65r oll also ubgala- OF Inc cum PICK
! character Of our governmental system, which,
while making the federal authority supreme
/ within its sphere has carefully limited that
! sphere by metes and bounds which cannot be
trsnsgrssssd The decision OF our highest court
on this precise question renders II quite doubt
! fuI whether the evils OF trusts and mou0poiies
can be adequately treated throulh federal ac-
tioa unless they ssek directly and purPossly tc
I include 10 their objects transportation o. in
( teFc0uFse between states OK between the
I United States and foreign cOuutsies
L does not follow. however, that this IS tie
limit Of the remedy that mag be applied
Even though It may be found that federal au-
thority IS not bread enough % fully reach the
case, there can Be 40 doubt CT the power o. the
/ several states 70 oct effectively IN the prem
isss. and there should be no reason to doubt
their willingness 70 i1diciOusly exercise such
poEeE.
In concluding tails communication It's last
words SHAH be IN sDpssl % the congress for
She most rigid economy Ia the expenditure ol
the money Is holds II trust for the people.
I Tue We % peFpiezing extFaVassses IS elsY.
f. bE4 g TeErFH % 1rugslity 8 di1eult
$1,000 "a s.a.-falrr.-F er.-a srl-..r