Alma record. (Alma, Mich.) 1878-1928, 1896-12-11

legations upon which gold may be d..
from circulation and Cancelled. This might
be done, as has been heretofore recon-
Sy Their ow e iof or NV
bonds.
as greenbacks were thus retired. II Is
probable that the treasury notes issued In
payment Of silver purchases under the act
of July, IL. 1880, now paid in gold when de-
manded. would not create much dis
turbance. as they might from time to time
when received in the treasury by redemp-
ton In gold or otherwise be gradually
and prudently replaced by silver coin.
Most Effective Path To Reform.
The plan of issuing bonds for the purpose
Of redemption certainly appears TO be the
most effective and direct path to the
needed reform.
In default OF this. however. 1t would be
; step IN the right direction II currency
80 redeemed should be Cancelled instead
OF being reissued. This operation would
be IA slow remedy, but II would improve
present conditions.
National banks should redeem their own
notes. They should be allowed IN issue
circulation TO the par value OF bonds de-
posted as security for it's redemption and
| the tax on their circulation should be re
duced to one-fourth Of one per cent.
Real Source of Danger.
OF United States notes and treasury notes
issued under the law Of 1870. ! am OF the
| opinion that We have placed too much
stress upon the danger Of contracting the
currency and have calculated too littlr
upon the gold that would be added 10 on
| circulation II invited TO US by better and
safer financial me hods. IL IL not so much
contraction Of our currency that should
be avoided as rs unequal distribution;
This might be obviated and any fear Of
full contraction At the same time re-
moved by allo% ing the organization Of
| smaller banks and In less populous com
munities than are now permitted, and also
| authorizing exi.9ing banks TO establish
branches In small communities under prop
| or restrictions
| Must Abandon Banking Business.
The entire case may be- presented by the
| statement that the day OF sensible and
| sound financial method will not dawn upon
| Is until our government abandons the
| banking business and the accumulation OF
| funds and confines It's monetary operations
| 20 the receipt OF the money contributed by
the people for its support and TO the eX-
'endlture OF such money for the peoples
benefit
our business interests and all good cti-
| GEMS long for rest from feverish agitation
| and the Inauguration by the government OF
| reformed financial policy which will en-
| courage enterprise and make certain the
| rewards OF labor and Industry.
Hot Shot for Trusts.
Another topic in which our people riSht-
] fully take a deep interest may be here
| briefly considered l refer 10 the existence
| of trusts and other hugo aggregations OF
| 'apital. the object Of which is 10 secure the
| monopoly Of some particular branch Of
l trade, industry or commerce, and so stine
| wholesome competition. When these ar,
defended II is usually on the ground that
| though they increase profits. they also re
duce prices. and thus may benefit the public
| II must be remembered. however that
reduction OF prices to the people Is not on,
Of the real objects OF these organizations.
nor is their tendency necessarily In thai
| direction. II 1t occurs in particular case.
Il lie txrft l. fhaT
| pose or interests Of those managing the
| 'cheme.. such occasional results, fan r.
| short Of 6onpensating the palpable evil
| 'harged TO the account OF trusts and mo-
! .opoIies. Their tendency is to crush on:
| Individual independence and to hinder or
| prevent the free use of human faculties
| and the full development OF human char
| acter. Through them the farmer, the arti
| san and the small trader Is In danger OF
| dislodgement from the proud position OF
| being his own master, watchful or all ina
| touches his country's prosperity, In which
| he has an individual lot, and Interested IN
| all that affects the advantages or pusl-
| ness OF which he Is a factor. TO be rele-
| gated to the level OF a mere appurtehanTI,
| to a great machine, with little free VIII
| with no duty but Of passive obedience ano
| with little hope or opportunity OF rlsiEt
| in the scale Of responsible and helpful cit.
| zenship.
Laws inefficient FOR Their Control.
To the instructive belief that such is the
inevitable trend Of trusts and monopols'
| ia due the widespread and deep-seated pop.
| nlar aversion in which they are held and
| the not unreasonable insistence that
whatever may be their medicinal 5ere1 e eS9n
upon personal character. prospects and
| usefulness cannot be otherwise thar
| injurious. Though congress has at
| tempted TO deal with this matter by leg
| lslation the laws passed for that purpose
| thus far have proved ineffective. not be
| muse OF any lack Of disposition or attempt
to enforce them, but simply because the
laws themselves "a Interpreted by the
courts do not reach the difficulty II the
| insufficiencies of existing laws can be
remedied BY further legislation 1t should
be done.
| states should Take Effective Action.
It should be recognized, however, that
| oil 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 authori-
~ supreme within its sphere, has carefully
| limited that sphere by bounds which can
not be transgressed. The decision Of our
highest court on this precise question ren-
OF trusts and monopolies can be ade-
quately treated through federal action, un-
less they seek directly and purpOsely 10
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 th
limit Of the remedy that may be applied.
Even though II may be found that federal
authority is not broad enough 70 FUZZY
lower OF the several states 10 act effcc-
lively in the premises, and there should
be no reason TO doubt their willingness e.
judiciously exercise such power
\ Plea for Rigid Economy.
In concluding this communication, its
last words shall be an appeal to the con-
gress for the most rigid economy in the eN-
pcnditure OF the money l. holds in trust
for the people. The way 10 perpleXing eX-
travagance IL easy, but a return 70 fru-
gality is difficult. When, however, IL Is
considered that those who bear the bur
dens of taxation have 10 guarantee Of
honest care save in the fidelity of their
public servants. the duty Of all possible re
trenchment is plainly manifest
When our differences are forgotten and
our contests of political opinion are no
longer remembered nothing I'm 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 10 the in
terests of our Confding fellow country
men. GROVER CI.fN fI.AND
Executive Mansion, Washington, Dec. T.
1896.
Photographing n Mummy's Bones.
4 collector Of purioS in pbiIa6nI,bto