The Worthington advance., 1896-12-10

nor. than vn.s the y:'ws us {ss q tss
SSaS aSSeSo more than darins The preceding year.
| Cannot Justly Bo Condemned. -
Those who insist that the cost TO- our
sbroad for their needful use should only
shs %s tas Who
s1a .tes se sss sns1fs'
purpose Of 20 increasing their price IN our
ers and producers better and more profit
able opportunities. must agree that our
s%f ony e Se
n,ent to meet the necessary expenses OF i.1a 1ss
% e as e1 s sw
' by no means m | fali Under just condemnation:
| During tho only complete fiscal Y XeaE AZ * q
more 'ss perS revenue than ans was received rom
tariff duties In the preceding year: There
receipts ee and expendi itures Of little more
than s2s. .ooo This however, was not
Depression Not Due to tho Law.
| The situation was sach In December,
seven months before the close Of the fiscal
that she 81 the 5s
In business circles. ana the depression in
tsm s9Se ws ss uades
stood and entirely Disconnected with our
tarE law or its operation. seriously
wise received and readily account for the
difference between this est,mate nsate,,o OF the
Wsi as fSr sna
It must be confessed that we coula naroly
have had a more unfavorable period than
tariff revenue.
believes 1t WIN Prove . Success.
We cannot reasonably hope that our re-
viii be sudden. but It he's already set in
with a promise Of accelera sion and contin9..
ahes aowed ssvs fas Sa VIII IN the Near
future yield revenue which. with reasona.
by r. 1S M oveGsSas w Gscie
that has occurred or may occur need excite
use 6f the Reserve Lawful.
To meet any such deficit We have in the
treasury. III addition to gol0 leserye OF
$l00. 600 900. q surplus OF more than SIX. co.,
p pensss Of the % an aSd wSics
= useless hoard. o., Il not eSsaxasantaXX
from tho purpose Of its exact'on from our
people. The payment, therefore, Of any de-
nothing more than its proper and legiti-
mate use.
Vices Of Our Financial System.
poets Of our revenues naturally. suggests
an allusion to the weakness and vices OF
nancial They aays Deen of ca9 ip9
fions> and the Inevitable danger Of their
anS q hsse detas
not refrain from again earnestly presenting
the necessity Of the prompt IT., reform or aoM,a OF :
finance and shown by experience to be
fraught rsau';h with the sravest peril ana per-
The 0reenback Should Go.
I am more convinced than ever that we
can have no assured financial peace and
nnt he GSeh gea by
from circulation and cancelled. This might
mended. by their exchange for long-term
bonds bearing low rate of interest or ny
their redemption with the proceeds OF such
as -greenbacks were thus retired, IT u
payment Of silver purchases under the act
Of July: IA. 1890. now paid in gold when de-
turbance. eH as they @ight from time to time
ton in gold OF otherwise 2 be g;e gradually
Most Effective Path to Reform.
The plan OF Issuing bonds for the purpose
Of redemption certainly y1 aRpe%ars % to ~ be ths ths
II default Of th,s hSwsXer; r1snes would es
so redeemed, should be Cancelled instead
being ressned THIS
National banks should redeem their ta ,s"sn own
circulation c 70 the par value Of bonds ae;;
posted as security for It's redemption and
the tax on their circulation should ne re-
Real Source of Danger.
In considering projects for the retirement
OF United States notes and treasury notes
assn stqess upon a the s danger Of the
UPON the gold that would be added to on
circulation IL invited to us by better and
safer financial methods
Must Abandon Banking Business.
The entire case may be presented by the
statement that the day of sensible and
sound financial method win not dawn upon
us until our government abandons the
banking business and the accumulation OF
funds and confines Its monetary operations
the people for its support and to the OK
penditure of such money for the peoples
benefit.
Hot Shot for Trusts.
Another topic in which our people right
fully take q deep interest may be here
capital, the object OF which IS to secure the
monopoly Of some particular branch y
eCympetton Wen these
defended, it is usually on the ground that
though they increase profits, they also re-
It must oe remembered, however. that q
reduction OF prices TO- the people Is not one
nor is their tendency necessarily in that
direction. II it occurs In q particular case.
it Is only because 1t accords with the pnr-
pose or interests of those managing the
scheme. Such occasional results fall far
short OF compromising the palpable evils
charged to the account OF trusts and mo-
nopoies.
Laws Inefacient for Their Control.
To the instructive belief that such is the
inevitable trend of trusts and monopolies
is due the widespread and deep-seated pop
ular aversion in which they are held and
the not unreasonable IlslsteEce tnAts