The Farmington times and herald. (Farmington, St. Francois Co., Mo.) 1902-1905, 1903-10-15

10 insure tOur years inOfeI is II
not apparent that the Aldrich bill
lays the foundation for an enor-
nous corruption fund.- AT the
lowest possible rate at which any
one will calculate the profit to the
banks. the national banks can af.
ford 10 contribute more to the cam.
paigu tdnd of the party that favors
them than can be collected from all
the people by any party that op-
poses special privileges and seeks
merely the equal rights Of all.
It may be added that the Aldrich
bill is Objectionable because it per-
mils the deposit Of miscellaneous
assets MS II security for the loan of
government money. First mort
gage raiIroad bonds under certain
conditions are declared by the bill
To- br sufficient to secure the deposit
OF money. Heretofore the govern
mrnt has projected itself by taking
it, own bonds as security for de
posts. While all the other Objec.
tions made to this system are good
against deposits, even when gov
ernmcut bonds are given as securi-
ty, still the government is protect
cd but in the case of the deposit
of miscellaneous securities the gov
rrumct may or may not he secure,
1t is apparent that the designation
OF bonds as suitable for security
must have Il powerful influence up
on the stock market! Is it wise or
safe that the government should
thus connect itself with the stock
exchange?
The congestion of money in the
treasury is due to the collection of
more taxes than the government
needs. Why not reduce taxation ?
That would be n protection against
any future surplus. The surplus
now ON hand can be used buying
up the governments obligations.
The purchase of government obi
cations would not only stop inter
est, but would relieve the govern
mrnt of the embarrassment which
it finds in having on hand so large
Il sum Of money. But the surplus
ON hand wCUId not bother the gov
so much but for the fact
that that there is Il scarcity of mon
Cy in the country. Whenever we
attempt to increase the quantity of
real money we are told that we do
not need any more money. As
soon as this argument is forgotten
the banks begin clamoring for an
opportunity to use the government
surplus and alleging as an excuse
that the money is needed in the
channels Of trade. 1t is possible
to have enough money to do busi
ness with aud thus enable the gov
to keep in the treasury
whatever money it has on hand.
This is not only possible, but it is
for it avoids the various
questions which arise in connection
with the l0auing of government
money. Then, too, if the money
Is locked up in the treasury the
people who need more money will
be- interested both in increasing the
volume of money and also in reduc-
ng taxation. Where the money
Is held III the treasury powerful in
.ercsts are brought TO the support
If the people in their demand for a
sufficient volume Of money and for
IN economical government, whereas
.hese same interests are arrayed
against the people when unneces-
iary taxes can he collected and the
surplus loaEed out TO
he fmanciers. The Republican
,Olicy is to take from the people
money that ought to remain in the
,eople's pockets and then loan the
money to the banks on the ground
hat the people need it. The Dem
'cratic policy is, first, to have n
volume Of money to do
he business with; second, to col
ect only so much as is needed for
he economical administration of |
he government, and, third, to keep |
he government money in the gov
rnment vaults, and avoid the evils |
hat follow the loaning of govern
nent funds. BY the way, are you
Iot now doing without legal au-
hority what the Aldrich bill is in
ended to authorizei
THE CoMMoNER.
Mrs. Subbubs-'W must give a