The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1896-12-17

Nv Nihhih III tiC DN w
grabbers a hard blow. He shows that
last year the number of pensioners
materially increased, until the list is
the largest ever reported. numbering
9Io.6IS persons, ard costing $13S,2l4,-
1G1 .9S.
President Cleveland demands the
speedy settlement of the Pacific rail
way loans and graIts, and especially
the foreclosure OF the Union Pacific
mortgage.
lie shows in the agricultural depart
ment that h valIe of farm products
exported in 1896 amounted to $50
100000. He is opposed to further gra-
tuitOuS distribution OF seed
Ihe interstate commerce and civil
service laws are highly commended.
While admitting a deficit Of little
more than So. 900, 600. the president
defends the Wilson bill as having
opened up foreign markets and stimu-
lated trade with other countries. The
present bill, he says. will yield suffi-
cicrt revenue, if given q fair trial: but
the deficit was to be expected i'm tic
face OF the business depression Of the
past two years. In this connection he
defends the drafts made on the re-
serve fund as he says it is immeasura-
bly, better to appropriate our surplus
to the payment of justifiable expenses
than to allow it to become an invita-
ton TO reckless appropriation and eX-
tr%avagant expenditures.
President Cleveland alludcs TO our
financial methods as "wrak and ayari-
cious.' and asks a prompt reform Of
the system, which is opposed to every
rule of sound finance. and shown by
experience to be fraught with a griev-
OILS peril and perpleXity. He refers IL
the late contest as being q greater
menace to property than the late civil
war. He declares financial peace en-
not be secured until the governments
currency obligations upOn which gold
may be dcnOminated are withdraw
from circulation AID cancelled. He ad-
vocateS their rc-eXChange for long-term
low-interest bonds. or their redemption
with the proceeds of such bonds. II
his is not done, he believes such cur
rency obligations. when redeemed.
should be cancelled. instead Of being
reissued. National banks should re-
deem their notes. They should be
allowed to issue circulation TO the par
value of their deposited security. and
their circulation tax should be reduced
= III VI L per cent. summing
up Inc financial situation. the preSi-
dent says: The entire case NAV be
presented by the statement that the
day OF sensible and sound financial
method will not dawn upon rs until
our government abandOnS the banking
business and the accumulation of
frnds and confines its monetary opera
tons to the receipt of the money con-
tributed by the people for it's support.
and to the expenditure of such money
for the peoples benefit"
Our business interests and all good
citizens long for rest from feyerish aci-
tation, and the inauguration by the
government OF a reformed financial
policy which will encourage enterprise
and make certain the rewards Of labor
and industry"
Another topic in which u peopIe
rightfully take a deep interest may
be here briefly considered. / refer to
the existence of trusts and other huge
a~ggregatiOns Of capital. the object OF
which is to secure the monopoly of
some particular branch of trade. in
dtlStry or commerce, and so stifie
wholesome competition. When these
are defended it is usually on the
ground that, though they increase
profits, they also reduce prices and
thu may benefit the public. 1t must
be remembered, however. that a rcluc-
ton OF prices for the people is not one
or the real objects of these ~organiza-
tons. MOI is their tendency necessary
In that direction. If it occurred in a
particular case it is only because it ac-
cords with the purpose or interest 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 the free use of hui
man faculties and the full development
of human character. Through them
the farmer, the artisan and the small
trader is in danger of dislodgement
from the proud position of being his
own master, watchful Of all that touch
es his country's prosperity, in which
he has an individual lot, and interested
in all that affects the advantages of
business of which he is a factor.
To be relegatcd to the level Of n
mere app"urtenance To Il great machine
with little free will. with no duty but
that Of passive obedience, and with lit
tie hope or opportunity of rising in the
scale of responsible healthful citizen
ship; to the instructive belief that such
is the inevitable trend of trusts and
monopolies, is due the widespread and
deep-seated popular aversion in which
they are held and the not unreasonable
renaissance that whatever may be
their incidental economic advantages,
their general effect upon personal char
acter, prospects and usefulness cannot
be otherwise than injurious.
Though congress has attempted to
deal with this matter by legislation.
the laws passed for that purpose thus
fnr hnrn ,rnrol innfIontirn nat L.