Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1896-12-18

cu1CAeuCy a. ~ 0t0 0nQ pfOCeCglO0 to all
whose occupations arc related to weather
! conditions. Omitting further reference to
the operations Of the department, I COM
n .ss9;on the E. secsstary,s Fsport and the :us-
ation OF Congress.
Civil Service Reform.
The progress made In clvfl-service reform
furnishes q cause for the utmost congratu.
e ei..1ni r service ~, Upward RSw Of II e iss s .soSs ssUu.
and places. A most radical and sweep
ing extension was made BY executive
s the fa @sssa sss e po. saS # msI; 's s. n sad IN Il
cluded IN the statement 1t may be said that
practically all positions contemplated 81
the civil-seSvice law are now CLASSIFIED
National Finances and the Tariff.
where made concerning the G~ovesnment's
receipts aud expenditures for the purpose
OF venturlng upon some suggestions touch
,ng our Ir, present . : ss, I'd. l. Sy.s and !, Its So OPERA SRA
day OF August, 1904. Whatever may Be Ito
shortcomings as a complete measure Of tar
III reform. It must be conceded that II has
change OF commodities between US and other
Countries. and thus furnished n wider mar
fss d 1oT o ent,r pF sassI ,. and a,n maa1 a.h;eS tSf@:
law has been In force ended the 3Oth day
of June. 1906. In that year our Imports In
creased do over sa 18th thS aSo Of s.., the previous par
domestic products we exported and which
found markets abroad was nearly $70.OOO.-
600 more than during the preceding year.
fiscal year Of Its operation. has yielded near
", Ss:OoNO.OOO more revenue than was re.
ceived from tariff duties in the preceding
tween our receipts and expenditures OF q
little more than $25. 900, 900. This. however.
was not unexpected. The situation was
fore the close OF the fiscal year. that the
cheney Of $4,000 600. The great and in
ness circles and the depression in all activi-
ties intervening since that time resulting
from causes perfectly we'll understood and
Its operation. seriously checked the imports
We would have otherwise received ana read
lily. account for the difference between this
estimate OF the Secretary and the actual dea.
cheney, US we'll us for a continued deficit.
Indeed. 1t must be confessed that we could
hardly have had n more unfavorable period
tariff evenue. We cannot reasonably hops
that our recuperation from this business de.
preston will be sudden, but 1t has already
continuance.
1 believe our present tariff law. II allowed
a fair opportunity. will In the near future
homie expenditures. Will overcome. all de
acicncies. Meantime no deficit that has
occurred or may occur need excite or dis
turb, US. To meet my. such deficit we have
eA SAS N0"SAAS Ah ~ W - 6Sto AS-
serve Of $10O,O00.OO0. q surplus Of more
than SIPS. 0oo.OOO applicable to the payment
Of the expenses OF the Government. and
which must. unless expended for that pur-
pose. remain u useless hoard, or, II not ex-
travagantly wasted. must In any event be
perverted from the purpose of Its exaetion
from our people. The payment. therefore,.
Of my deficiency In the revenue from this
fund Is nothing NOR than Its proper and leg
innate use.
1t is immeasurably better to appropriate
our surplus to the payment of justihable ex-
penses than to allow 1t to become an invi-
tatlon to reckless appropriations and eX;
not be denied that under the present law
our people obtain the hecessaries Of a COM
Portable existence ut a cheaper rate than for
lance. since 1t is the palpable duty of every
government to make the burdens of taxa
ton as light MS possible. The people should
Of cheap living except under the stress Of
their governments necessity made plainly
manifest.
The Currency System.
l am more convinced than ever that We
can have no assured anancial peace and
safety until the government currency OBJ
legations upon which gold may be demand
ed from the treasury are Withdrawn from
done. as has been heretofore recommended.
but their exchange for long-tcrm bonds bear
ing q low rate Of interest or by their re-
i Even II only the United States notes known
as greenbacks were thus retired, 1t 10 prob
able that the treasury notes issued In pay:
July Il. 1890. now paid in gold when de-
manded. would not create much disturbance.
as they might from time to time when re.
or otherwise. be gradually and prudently
replaced by silver coin.
In default Of this plan. however. 1t would
be d step in the right direction IL currency
obligations redeemnble in gold. whenever
so redeemed. should be Cancelled instead OF
being relssued.
National banks should redeem their own
notes. They should be allowed to issue cir
culation to the par value Of bonds deposited
US security for its redemption. aud the tax
on their circulation should be reduced to
one-fourth Of I per cent.
In considering projects for the retirement
OF United States notes and treasury notes
issued under the law Of 1880. am Of the
opinion that we have placed too much stress
upon the danger of contracting the currency
and have calculated too little upon the gold
tint would be added to our circulation II
invited to us by better and safer financial
methods. 1t Is not SO much Il contraction OF
our currency TINT should be avoided as
such unequal distribution. This might be
obvinted, and nny fear of harmful contrac-
ton ut the same time removed, by allow
Ing the organization of smaller banks and
in less populous communities than are now
permitted. and authorizing banks to estab-
fish branches In small communities under
proper restrictions.
rhe entire case may be presented by the
kluLSslueuI LUZ LIZ Wy " SSAASiDtS ALlA SouitA
financial methods Will not dawn upon us
until our government abandons the banking
business and the accumulation Of funds. and
confines Its monetary operations to the re-
ceipts of the money contributed by the peo-
pie for Its support. and to the expenditure
Of such money for the peoples benefit.
Our business interests und all good citi-
zens long for rest from feverish agitation,
and the Inauguration by the Government Of
a reformed financial policy. which will en-
courage enterprise and make certain the re-
| wards Of labor and Industry.
kOnst for the rusts.
Another topic in which our people right
~ considered. L refer to the existence Of
! trusts and other huge nggrcgations Of cap
ital. the object of which is to secure the
monopoly Of some particular branch of trnde.
Industry, or commerce and so stiae whole-
some competition. When these are defend-
ed it Is usually on the ground that though
and thus may benefit the public. 1t must
be remembered. however; that a REDUCTION
real objects Of these organizations. nor 10
their tendency. necessarily in that direc-
vidual Independence and to hinder or pre-
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