The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1896-12-08

smaller banks anG IN less pupuous com
munitics than are now permitted and also
authorizing existing banks TO establish
branches in small communities under prop
or restrictions.
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 accumulation
of funds and confines its monetary opera
tiuns To the receipt Of the money contrib
uted by the people for its support and to-
the expenditure of such money for the
peoples benefit. a
Another topic in which our people right
fully take deep interest may be here
briefly considered | refer to the existence
of trusts and other huge aggrcgatious Of
capital, the object Of which is 60 secure the
monopoly of some particular branch uf
trade, industry or commerce and to stitlu
wholesome competition. When these are
defended, it Is usually ON the ground that,
though they increase profits, they also re-
ducc prices, and thus may benefit the pub
lie. 1t must be remembered however, that
n reduction of prices to the people is not
one of the real objects Of these Organiza-
tions, nor is their tendency necessarily in
that direction. If 10 occurs i'm particular
case, it is only because it accords with the
purposes or interests Of those managing
the scheme.
Such occasional results fall far short Of
compensating the palpable evils charged to
the account of trusts and monopolies
Their tendency Is to crush out individual
Independence and to hinder or prevent tho
free use of human faculties ana the full
development Of human character Through
them the farmer, the artisan, the small
trader, is in danger of dislodgment from
the proud position of being his own master
watchful Of all that touches his country's
prosperity, in which he has an individual
/ lot, and inter, stcd in all that affects the
advantages Of business of which he is a
factor, to be relegatcd to the level of a
mere appurtcnance 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 re-
spOnsibe and helpful citizenship.
/ 10 the instructive belief that such Is the
| inevitable trend of trusts and monopolics
is due the widespread and deep seated pop.
ular aversion in which they are held and
the not unreasonable ms stcnce that, what
ever may be their incidental economic ad-
vantagcs, their general effect upon personal
character prospects and usefulness cannot
be otherwise than injurious.
Possible Remedies.
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 or attempt to enforce them,
but simply because the laws themselves as
interpreted by the courts do not reach the
difficulty. If the insutliciencies of existing
laws can be remedied by further lcgisla-
tion, 1t should be done. The fact must be
recognized, however, thai all federal legis-
lation 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 supreme
within its sphere, has carefully limited
that sphere by metes and bounds which
cannot be transgressed The decision of
our highest court on this precise question
renders it quite doubtful whether the evils
of trusts and monopolies can be adequately
treated through federal action unless they
seek directly and purposely to include in
their objects transportation or Intercourse
between states or between the United
States and foreign countries.
1t does not follow, however, that this is
the limit of the remedy that may be APP
piled. Even though it 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 premises, and there should
be no reason to doubt their willingness to
judiciously exercise such power,
In concluding this communication, its
last words shall be an appeal to the con
gress for the most rigid economy In the eX-
penditure of the money 1t holds in trust
for the people, The way to perplexing ex-
travagance is easy, but return to frugal
ity is difficult. When, however it is con-
sidered that those who bear the burdens of
taxation have no guarantee of honest care
save in the fidelity of their pnblc servants,
the duty of all possible reirGnOhment is
plainly manifest,
When our differences are forgotten and
our contests Of political opinion are no
longer remembered, nothing in the retro
spect of our public service will be as for
tunate and comforting as the recollection
of official duty well performed and the
memory of . constant devotion to the in
terests Of our confding fellow countrymen.