The Grenada sentinel., 1906-10-13
TIME TO GO SLOW.
PRESENT TIME NOT PROPlTIOUS
Fer SPECULATION.
Tariff Reform Is Absolutely Necessary
to Curb Trust PIundering-Present
System Robs People for the
f Benefit Of Corpora
- =,

1t is perhaps thankless task to ad
wise those who have been seized will
the mania for speculation, but II Is
the duty of honest journalism to be
the watchman on the tower to warn
the people of the approach of political
foes, and false political economy
There is spirit of political and eco
nom1c unrest abroad in the land, and
wisdom would dictate caution in deal
ing with political speculations, as
much, or even more so, than in deal
ing in the stock market, mining shares
or real estate. The first thing TO re-
member Is that but few speculators
in politics, or business gambling, are
successful. Wise conservatism is
geenrally the winner in the long run,
Regarding speculation Chicago and
New York have been built up on the
money that is constantly sent to those
cities either directly or through the
agents OF Wall street and the specula.
tive markets all over the land. with
but little returns to those who send
1t. When some one makes winning,
the favorable result is heralded every.
where, but we never hear publicly of
the great army of losers. The latest
phase of the gambling era is real es-
tate speculation, which is rampant in
the cities, and town lots are being sold,
miles from the business centers, at
prices that will require years to make
T.
must be paid, and unless the property
is for home building, the result in
most cases will be that, in few years,
the advance in value, if any, will not
cover the taxes paid. The man who
buys home on the inStallment plan
can afford to pay more than it is in
trinsically worth, because it is the
only way he can own his own home,
and he has the use of it, and with
good management and economy will
in time get it paid for and there is no
intention in giving this advice of re-
tarding such a natural and sensible
longing as owning a home.
The price Of farming land in the
western states has, in some sections,
reached a prohibitive figure, for it
must be remembered that q farm is
worth what it will produce at a profit,
enough to pay interest on the invest
ment, and fair return for the work
During this era of specu-
lation the price that farm land will
sell for may exceed it's value as
business investment, but in the long
run the price of farms must come
down to what they will pay on the in
vestment.
The spectators in cotton, wheat,
railroad and industrial stocks and
mining stock must remember that |
hose who sell probably know more |
about the actual value than those |
who buy, and unless full information |
If earnings and management is pro-
;urabh, the buyer is buying in the
lark.
There is no doubt that the enor-
nous imitation of the circulating me-
lium, through the constantly increas-
ng output of gold, is resulting in an
ldvance in values, measured in gold,
he world over, but this increase
n prices does not apply to cotton,
Wheat, corn, and much other farm
the price of which is gov.
rned by supply and demand, de-
ending upon the favorable or unfa-
orable seasons for growing and gath
ring the crops. The present low
rice. of wheat, cotton and corn, meas.
red by the advancing price of other
Commodities, is proof that the law
f supply and demand is more potent
han the other law of the quantity of
honey initiating prices.
The present tariff policy of protect
lg our manufacturing trusts and
Ombines from foreign competition,
as been a great factor in increasing
le price of products of those cOrpor-
tiOns, so that consumers, whether on ,
lie farm, Or in the city, are not only
aging the natural increase of prices
ON gold imitation, but the greater in !
alton of prices by the unnatural con- j
itions created by the tariff protection
} the industrial corporations called
usts. The tariff and trust issue Je-
e entirely political, can be made
} assist, rather than retard, the nat f
al growth of the country, if the
,ters will investigate and insist on a
'form that will benefit them, in i
cad of continuing, the present sys- t
m that plumbers them for the bene- i
of the corporations.