Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1896-12-11

tariff revenue. We cannot reasonably hope
that our recuperation from the business de-
preston will be sudden, but 1t has already
set in with promise of acceleration and
continuance. 1 believe our present tariff
law, II 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 &C.
CURED or may occur need excite or disturb
u.s. TO meet any such deficit we have in the
treasury, in addition to the gold reserve Of
100000 900, surplus of more than $685.
100000 applicable to payment of the ex-
pcnses of the government, and which must
unless expended for that purpose. remain
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 UNNECESSARILY better to appropr-
| ate our surplus to the payment of justifable
expenses than to allow it to become an invi-
tation to reckless appropriations and ex-
travagant expenditures.
| 1 suppose it will not be denied that under
the present law our people obtain the neces-
saries of a comfortable existence at 4
| cheaper rate than formerly. This is a mat
ter OF supreme Importance, since it is the
pllpablc duty of every just government to
make the burdens of taxation as light as
possible. The people should not he required
to relinquish this privilege of cheaper living
except under the stress of their govern
ments necessity made plainly manifest
FINANCIAL.
| This reference to the condition and pros
| poets of our revenues naturally suggests an
| allusion 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-
| lions and the inevitable danger of their con-
tinued liberation pointed out without now
| repeating these details, 1 cannot refrain
| from again earnestly presenting the neces-
| sity of the prompt reform of a system op-
posed to every rule of sound finance and
| 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 years
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 a sacred memory. which foS-
tiers patriotic sentiment and keeps alive
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
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 a false security or
lead US to forget the suddenness of past visi-
tation- 1 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
that the treasury notes issued In payment
of silver purchases under the act OF July
A. 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
for the purpose of redemption certainly APP
pears to be the most effective and direct
path to the needed reform.
In default of this, however it would be
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
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 1 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
ahandnuc the baukiup huSipeSS and no az
emulation 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 a 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 a deep interest may be here
briefly considered. refer to the expanse Of
trusts and other huge aggregations of capt.
tai, the object of which is to secure the mo-
nopoly of some particular branch of trade.
industry or commerce, and to stiie whole
some competition. When these are defended
1t is usually on the ground that though they
increase profits, they also reduce prices and
thus may benefit the public. 1t must be re-
me IN Dered, however, tnat reduction OF
prices to the people is not one of the
real objects of these organizations,
nor is their tendency necessarily in that
direction If it occurs in a particular case
it is only because it accords with the pur-
poses or interests of those managing their
scheme. Such occasional results fall short
of composing the palpable evils charged to
the account of trusts and monopolies. Their
tendency is to crush out individual indie
pendence and to hinder and to prevent the
free use of 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 ineffective, not because of any lack of
disposition or attempt to enforce them but
simply because the laws themselves as in
terpreted by the courts do not reach the
difficulty. If the insufcencies of existing
laws can be remedied by further legislation.
it 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