New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1905-10-25
SEES MENACE OF MACHINE
Ed. Becky Writes on Topic of Vital
Interest.
Deprecates Ship Subsidy Scheme
of Capitalists.
Sees Trouble in Plan OF Bankers
For Large Circulation.

if anything that occurred lately in the
world of finance verifles what have
said in those articles, it is the speech
of the foremost financier in the United
States, Secretary Shaw, at the Bank
er's convention in Washington.
With an expenditure of hundreds OF
thousands of dollars, over 5000 bank
ers of this country have gathered in
Washington to discuss banking and
finance and all the troubles which have
arisen in this line of business.
And the outcome of their discussions,
the best that the brains of the greatest
money men in the country produce was:
I. TO declare in favor of shipsub-
sides. &c.,
II. For a more elastic currency.
Now 1t is of vital interest to all the
voters and all truthloving and truth
seeking people to get a clear concep-
ton, plain conception of these two
propositions and 1 shall try to brieve
ly explain them.
l. BY shipsubsidies is meant that
that people of the United States through
their government should pay large
amounts of money to steamship COM
panies owned by some private bust
ness men, so they many successfully
compete with those great maritime
transportation companies of other
countries. Therefore special privilege
should be granted to some business
firms, and you the taxpayers should
pay for it.
1t is the same scheme that the great
logging concerns and owners of the
prairies in this country want to spring
on the people. They have cut off the
forests, have charged outlandish prizes
| for the lumber and now want the peo-
pie to pay for re-foresting, so that
these business men can repeat the same
trick over again.
| That's what the so-called brainy men
of these United States want to do with
you.
Nothing to say about the fact that
foreign countries or foreign steamship
companies practically hold the trans
por tation monopoly of the transatlantic
maritime commerce because they have
cheaper labor and can supply it
easier than American companies can.
By shipsubsidies from the govern
ment, the difference between foreign
and home wages could be balanced at
the taxpayers expense and clear pro
fit to the steamship company, gthere'
with creating an additional tax on the
cost of living of the people as the ulti'
mate result of the whole thing, besides
the reaction upon foreign ship owners
to knock their wages further down, anC
create the same condition as before.
SO this act of the bankers shows sucl
a miserably poor knowledge of econ
omic science that a beginner ought tt
know better.
But capitalism is in close quarter
nowadays to get sufficient revenues GU
of their investments, unless legisla
ture that is the peOple-can be squeezed
H. Exactly so is itsswith Mr.. Shaw
economic science. He went on recor
last week to say that the present none
.. circulation is inadequate, not keeping
pace with the demands of business.
: How can, l ask, the minis, the leg
| alised money factories of the Unite
, States ever keep pace with the none
: factories of the great trusts whic
create billions of speculative value
where the United States minis col
millions?
e How can the United States treasure
T ever dream to coin reserve funds
: gold and silver and bills in Sufficiel
u amount that the stocks, shares an
IL bonds in fake gold-mines, bonanz
e farms and a thousand get-rich-quic]
K enterprises, besides railroads, tel
81 phones, telegraph, copper, lead, O
IS and other stocks, could be easily CO.
le verified and at demand, into real Unite
Z States cash?
But that is what the taxpayer wan
IL to learn, the capitalists are workir
D full steam up, to have the political
lie make laws that the water in the cap
u alists stocks can be turned into re
te United States money, that is nom
IS which the people only can authorize.
ID The very fact that the secretary
E treasury himself advocates this e
D. larged and more elastic currency is t
IS most positive proof that the most tru:
III ed officers of the people have comple'
le ly sunk to the dictations of the none
as power, are forever willing to gra
special privileges to some people
"a the expense of others and havetr ampl
a. the spirit Of their own constitution, |
is der their feet
is 1t is up to the people to give su
m things earnest consideration.
:. Ed. BOSE
WHY not demand the best for yC