Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1896-12-16


continuance / believe our present tariff
law, If allowed fair opportunity will in the
near future yield revenue which, with
reasonably economical expenditures, will
overcome all deficiencies
In the meantime no deficit that has oc
Cured or may occur need excite or disturb
as To meet any such deficit we have in the
treasury, in addition to the gold reserve of
s1OOOOO,OOO surplus of more than sl2s.-
100000 applicable TO payment of the ex
penses OF the government, and which must
unless expended for that purpose remain a
useless hoard, or, if not extravagantly
wasted, must in any event be perverted from
the purpose of its exaclion from our peo-
pie, the payment, therefore, of any def
cheney In the revenue from this fund is
nothing more than its proper and legitimate
use. 1t is immeasurably better to appropri-
ate our surplus to the payment of iustifiable
expenses than to allow it to become an invi-
tation to reckless appropriations and ex-
travagant expenditures
suppose 1t will not be denied that under
the present law our people obtainAthe neces-
saries of a comfortable existence at
cheaper rate than formerly. This is z mat
ter of supreme Importance. since it is the
palpable duty of every just government to
make the burdens of taxation as light as
possible. The people should not be required
to relinquish this privilege of cheaper living
except under the stress of their govern
ments necessity made plainly manifest.
This reference to the condition and pros-
poets OF our revenues naturally suggests an
alluslon to the weakness and vices of our
financial methods. They have been fire.
quently pressed upon the attention of the
Congress in previous executive communica-
tions and The inevitable danger of their con-
tinued liberation pointed out Without now
repeating these details, / cannot refrain
from again earnestly presenting the neces-
slty of the prompt reform of a system op-
cd TO L. e.
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 wears
ago. brought in its train the destruction of
property the wasting of our country's sub
stance, and the estrangement 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 and 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 its
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 temporary
relief from its depressing influence this
should not lull us into 4 false security or
lead us to forget the Suddenness of past visi-
tation. am more convinced than ever that
we can have 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 and cancelled. This might be done
as has been recommended by their exchange
for long term bonds bearing a low rate of
interest or by their redemption with the
proceeds of such bonds.
Even if only United States notes known as
greenbacks were thus retired it is probable
1nfn Il
of silN er purchases under the act of July
IA, 1890, now paid in gold when demanded.
would not create much disturbances. as they
might from time to time, when received in
the treasury by redemption of gold or other
wise. be gradually and prudently replaced
| by silver coin This plan of issuing bonds
tor the purpose of redemption certainly ap-
pears to be the most effective and direct
path to the needed reform.
In default of this however ii would be a
step in the right direction if currency obli-
cations redeemable in gold whenever so
redeemed should be cancelled instead of be-
ing reiSsued. This operation would be a
slow remedy. but it would improve present
conditions.
National banks should redeem their own
notes They should be allowed to issue cir
culation to the par value of bonds deposited
as security for its redemption and the tax
on their circulation should be reduced to
one-fourth OF l per cent The entire case
may be presented by the statement that the
day OF sensible and sound financial methods
Will not dawn upon US until our government
abandons the banking business and the ac-
cumulation of funds, and confines its none
tary operations to the receipts of money
contributed by the people for its support
and to the expenditure of such money for
the peoples benefit Our business interests
and all good citizens long for rest from few.
erish agitation, and the inauguration by the
government OF reformed financial policy
which Will encourage enterprise and make
certain the rewards of labor and industry.
TRUSTS.
Another topic in which our people right
| fully take deep interest may be here
! briefly considered. Irefer to the expanse of
| trusts and other huge aggregations of caDi-
| tai, the object of which is to secure the mo-
| nopoly of some particular branch of trade
| industry or commerce, and to stife whole
some competition When these are defended
! 1t is usually en- the ground that though they
! increase profits, they also reduce prices and
thus may benefit the public. 1t must be re-
membered, however, that a reduction of
, prices Co tie people is not one of the
real Objects of these ORGANIZATIONS
nor is thetr tendency necessarily in that
| direction L 1t occurs in particular case
! 1t Is Oily 9e.:;tlse it accords with the pur-
poses OF interests of those managing their
scheme. Such occasional results fall short
OF composing the palpable evils charged 70
the account of trusts and monopolies Their
pendence and to hinder and to prevent the
free use q: human faculties and the full de-
velopment of human character.
Though Congress has attempted to deal
with this matter by legislation. the laws
passed for that purpose thus far have
proved Inc tfective, not because of any lack of
disposition or attempt to enforce them but
simply because the laws themselves asAin-
terpreted by the courts do not reach the
dificulty. If the insuficiencies of existing
laws can be remedied by further legislation.
IL should be done. The fact must be rccog-
nized, however, that all federal Legislation
on this subject may fall short of its purpose
because of inherent obstacles, and also
because of the complex character of our
governmental system, which, while making
the federal authority sui RENE within its
there, has carefully limited that sphere by
metes and bounds which cannot be trans
greSsed. The decision of our highest court
on his precise question renders il quite
doubtful whether the evils of trusts and mo-
nopolies can be adequately treated through
federal action unless they seek directly and
purposely to include in their objects trans
portation or intercourse between states or
between the United States and foreign
countries
It does not follow. however. that this is the
limit of the remedy that may be applied.
Even though IL may be found that federal
authority Is not broad enough to fully reach
the case, there can be NO doubt of the power
of the several states to act effectively in the
doubt their willingness to 1udiciously exer-
else such power. In concluding this COM
munication its last words shall be an appeal
TO the congress for the most rigid
economy in the expenditure ot
he " f<ar ar-r,le