The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-02-16
Pingree Again Rampant.


Phgree Again HaI1pahl'
Tho AIarouatte o1,,h of Chicapo cala-
brotod rinao1,,,s hir+hdav ~, = "ra,s+
| of povarnors" et which tho executives
| or naar1v q dozen states norticipated
but as usua1 where Hazan :. pingrce
is ir,.olved II was tho aebtirg ruinr
of Michigan who supplied the spice and
| oooosio,,o7 +bo srao,i,,r I1aro ara
|
| SoIile ol tue tHlilsS ne Saiu'
| l assume that we all hope to draw a prize
| in life. In our private capacity we fig
ure | will assume for a contract with
the city, and get it by paying the price
| This assumes that the city fathers pocket
| the price OF course If the contract is
| for a street railway the rates of fare must
| stand very high. because If they do not
our watered stock does not go off our
| hands easily. The game is to show in our
| contract that we can pull millions out of
| the public. Then we can get almost any
amount of watcrod stock into the hands
| of a gullible public. IT is n kind of lottery
| system Almost everybody knows If and
| admits it, We condemn it in public and
| res ort to il i'm privatc | have heard that
a monopoly has built a church. The
| Louisiana lottery paid big bonuses to New
| Orleans and walked hand in hand with
| charity doing good with other people's
| money 1t is curious TO observe that the
law. the pulpit and the rostrum are agains.
| the sale of a lottery ticket hut not AGAINST
| the sale of a block of watered stock.
|
| aSslhS lhehce TO d pToau cohsluefd-
| tion of the characteristic American
| evil of sneculatiOn Governor Pinproa
| soid.
| "''
Speculation seems to have put on the
mask of business in the United States.
The apparent rights of speculation have
increased taxation, but such rights are
more apparent than real. The excessive
rates of fare and of freight transportation,
| caused by speculation, are slowly draining
the earnings of the country, and are also
slowly crippling transportation itself, be
cause excess reacts. Speculation inter
feres with business by taking a large
snld +n Ur IN % Ia, are no. earl'e
economic laws, ANY monev taIxen bv
means of bonds that do not represent
money invested in work IS fraud on bust
ness. The violated economic rule makes
the producer feed idle men who have
placed toll-gates in the way of economic
progress. Speculation is not business far
from IL. Speculation is the foe of busi-
ness. Capital derived from speculation is
not economic capital. The real business
| capital of the country is that accumulated
in the savings banks. Savings bank depO-
sits are the deposits of the multitude Of
producers. When the factory bOrroWS
| from the savings bank it bOrOrWs, as it
! We're, of its own employees. Thus the en-
ployes draw both wages and interest from
the factory. If the factory borrows the
capital of speculation it pays no interest
to its employees. All true economic capt
tai represents earnings If it does not, it
is an injury to business because in meas
ure 1t weakens the market. By the mar
ket | mean the people who consume the
vast products of the United States-the
great body of people who consume what
we produce. If consumption fails, bust
ness fails, If earnings fail, consumption
fails When consumption fails, credit
fails. Thus it is seen that the capital
taken by speculation contracts the use
fulness of large part of the currency of
the country.
r, oo,o,ue;o,, 10 90 .,,44 &c.,
!" Noi'clusioH' ne VI polato lame 'e-
marked:
The great body of our pcople believe that
by the operation of unjust laws MANY
ignorantly passed by the legislature. and
some Intentionally, there has been and is
now, an unequal distribution of the wealth
| of this country From 1880 to 1SQ5 a short
period of thirty-Rve years. we have made
three times as many dollars as were made
in the 3GS years Immediately prior thereto
but the comparatively few have obtained
possession of most of them DR. LYMAN
Abbott has made the following most forci-
| BILE Illustration. He save tbat if A1an,
,Iae,.s v'le son ol Coz was IN ruin born 500.
every day Of his Iife had hcen snnmt ,.,,t IN IN
honest toll, only resting on the Lord S
Day and had in addition to supporting his
rasI+ amy M neT' pee ape TO lay ASIDE as the
of interest NOT havina been conceivodN 80 ia
all of this 5000 years of accumulation,
Adam today would not be worth as much
Goi,id bo Ma .'ir oli' ot HI'
had nothing, comparatively. a few Years
ago Is it any wonder, then, that the COM
non io people Shoulu say, How is 1t posi-
honestly oconiraT o., Ard ,,baI, ,J',TS va" @ oo
honestly, do not mean that form of hon.
esty which is made so by legislation, but