The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-12-08

COS JAMES PYLE, New YosA
| ger of contracting the currency and
nave calculated too little upon the gold
mat would be added to our circulation
II invited to us by better and safer
| financial methods. 1t is not SO much a
contraction of our currency that should
oe avoided as Its distribution
FOR MORE BANKS.
This might be obviated and any fear
OF harmful contraction at the same time
removed, by allowing the organization
Oh smaller banks In less populous COM
muhitieS than are now permitted. and
also authorizing existing banks to es.
iahlish branches In small communities
under proper restrictions The entire
case may be presented by the ate
nient that the day of sensible and sound
financial methods will not dawn upon
us until our Government abandons the
banking business and the accumu,at ton
oil funds. and confines its monetary
operations to the receipts of the money
contributed by the people for its SIM
port, and to the expenditure of such
money for the peoples benefit. Our
business interests and all good citizens
ohG Tor rest from the feverjsh agita-
tion' and the Inauguration by the Gov
eminent OF Il reformed financial policy
Whieh VIII encourage enterprise and
make certain the rewards OF labor and
Industry.
MONEY COMBINES.
Another topic In which our people
r!shtiuIly take deep interest may be
mere briefly considered | refer to the
existence of trusts and other huge ag-
grcgations of capital, the object of
Whlch Is to secure the monopoly of some
particular branch OF trade, Industry. or,
commerce and to stlne wholesome com
m han I
usually on the ground that though they
increase profits they also reduce prices
ana thus may beefit the public 1t must
be remembered, however that a reduc-
non OF prices to the people is not one
of the real objects of these oreanizo
tons. nor is their tendency necessarily
IN that direction. If il occurs In a par
ticular case it Is only because it accords
with the purposes of interests of those
managing the scheme
such occasional results fall far short
OF compromising the palpable evils
charged TO the accounts of trusts and
monopolies Their tendency is to crush
out individual independence and TO
hinder or prevent the free use OF human
faculties and the full DEVELOPMENT Of
human character. Through them the
farmer, the artisan and the smaller
trader Is In danger of dislodgment from
inc proud position of being his own
master. watchful of all that touches 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 factor TO be re q .ated 10
the level of mere appurtenance to q
great machine, with little free will. with
no duty but that of passive obedience
anu with little hope OF opportunity of
rising in the scale of responsible and
helpful citizenship. 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 insistence that
whatever may be their incidental econo-
mic advantages their general effect
upon personal character, prospects and
usefulness cannot be otherwise than in
furious: Though Congress has attempt
ed to deal with this by legislation tho
laws assessed for that purpose thus far
have proved ineffective, not because of
any lack Of disposition or attempt to en- |
force them. but simply because the laws
themselves as interpreted by the courts
do not reach the difficulty. If the in
suiliclcnces OF existing laws can BIZ. |
remedied by further legislation it should
be done. The fact must be recognized. |
however. that all Federal legisla ton on
This subject may fall short of It's pur.
pose because of inherent obstacles. and |
also because OF the complex character of |
our Governmental system, which while |
making the Federal authority supreme |
within It's sphere. has carefully limited |
that sphere by metes and bounds |
Which cannot be tranSgressed. The de- |
cision of our highest court on this IRE. |
else question renders It quite doubtful !
whether the evils of trusts and monopo- |
lies can be adequately treated through !
Federal,action. unless they seek direct |
~ and purpOsely to include in their OBJ. |
jectS transportation or intercourse he |
tween States or between the United |
States and foreign countries
II does not follow. however. that this |
Is the limit OF the remedy that may be |
applied. Even though 1t 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 req
son to doubt their willingness to Judi
ciously exercise such power In con.
Guiding this communication its last
words shall be an appeal to the Con-
gress for the most rigid economy in the
expenditure of the money 1t holds IN
trust for the people. The way to pc=
picking extravaganza Is easy. but a re-
turn to frugality is difficult
INFRINGEMENT
When. however, it is considered that
those who bear burdens of taxation have