Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1896-12-31
Tlr. Minor Wants Protective Tariff.

Representative Minor of the Eighth
district believes that revenues are
needed more than additional circulating
money. In discussing the subject Mr..
Minor says::'I confess that / have given
more thought to the question of putting
this government on sound financial
footing where it will be able to pay all
its debts promptly than I have given to
laws governing the money in which our
obligations are to be discharged. Of
course, ours is great country, and its
money must be as good as the best in
the world. In other words, let us give
no one in any portion of the globe valid
reasons to question the stability and
honesty of-an honest peoples money.
Under the present system of finance we
must necessarily rely on the govern
ments income to maintain our gold
reserve. When receipts exceed expen-
ditures the gold reserve is safe, but we
have learned by bitter experience that
when the receipts of our government
fall below expenditures, it is only by
sale of our interest bearing paper that
we can maintain a reserve at the one
hundred million point, or the point of
safety ~ "a.
EXTEND NATIONAL BANKING. PRIVILEGE.
| am among those who believe that
our first duty should be to so leeislate
that our income will be more than our
expenses. No one will then question
our money either as to its quantity or
quality. [ believe it to be wise in deal
ing with National questions, such as
tariff and finance, to proceed on well
established business lines, viz, do that
first that seems most necessary, and
then take up one after the other ques-
tions in the order of their Importance
Hence, | say, the most pressing, as well
as the most important, question, con-
fronting the American people is the one
| of revenue to meet our expenditures
When we have settled this question we
canthen take up the next in Importance,
finance. If we could be sure of a CON
tinuance Of Republican policies, there
would be no pressing necessity for a
change in our present Laws, because
they would be found good enough. In
view Of the present and past four years
of humiliating economic and financial
history, and being uncertain of the
future later along it will be wise to take
up and consider our monetary system.
The hand of modern. free-trade Dem
ocracy is raised against everything that
tends to build up; it leaves nothing in
its wake but tears and destruction.
Anticipating at some future time that
this party of destruction may be restor-
ed to power by misguided people, we.
should strengthenth the line of safety so
far as possible; to this end some modif-
cations ofour financial laws will doubt
less be found necessary. 1t may be
found best to enlarge the privileges of
the National banking system 1t might
be found wise to issue paper money to
the purchaser of bonds up to the face
value of said bonds for banking purpos-
es. Ny personal judgment is that
authority should be given to organize
National banks in cities having a less
number of population than now pre-.
scribed by law and with less capital. say.
$4,000. There are other burdens i'm
posed by law on National banks that
might with safety and wisdom be