Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1906-10-11
TIME TO co SLOW.
PRESENT TIME NOT PRoPITloUs
FOR SPECULATION.
Tariff Reform is Absolutely Necessary
to Curb Trust Plunderins-Present
System Robs People for the
Benefit of Corpora
tions

hlOUSs
1t Is perhaps a thankless task to ad.
wise those who have been seized with
the mania for speculation, but it is
the duty of honest journalism to be
the Waterman on the tower to warn
the people of the approach of political
foes, and false political economy.
There is a spirit of political and eco
nomic 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 spectators
in politics, or business gambling, are
successful. Wise conservatism is
geenrally the winnerein 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 n makes a 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
tho nifinc opI tnuyr Lots o,,o hainr co11
miles from the business centers, at
prices that will require years to make
reasonable. In the meantime taxes
must be paid, and unless the property
is for home building, the result in
most cases will be that, in a few years,
the advance in value, If any, will not
cover the taxes paid. The man who
buys a home on the installment plan
a 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 a farm is
worth what it will produce at a profit,
enough to pay interest IN the invest.
ment, and a fair return for the work
| expended. During this era of specu'
lation the price that farm land will
| sell for may exceed it's value as a
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
those who sell probably know more
about the actual value than those
who buy, and unless full information
of earnings and management is pro,
durable, the buyer is buying in the
dark.
There is no doubt that the enor.
nous imitation of the circulating me
dunn, through the constantly increas-
ing output of gold, is resulting in an
advance in values, measured in gold,
the world over, but this increase
in prices does not. apply to cotton,
wheat, corn, and much other farm
products, the price of which is gov,
erned by supply and demand, de.
pending upon the favorable or unfa-
vorable seasons for growing and gath
ering the crops. The present low
price of wheat, cotton and corn, meas.
ured by the advancing price of other
commodities, is a proof that the law
of supply and demand is more potent
than the other law of the quantity of
money initiating prices.
|. The present tariff policy of protect.
ing our manufacturing trusts and
combines from foreign competition
has been a great factor in increasing
the price of products of those corpor-
ations, so that consumers, whether on
the farm, or in the city, are not only
paying the natural increase of prices
from gold imitation, but the greater in.
hation of prices by the unnatural con.
ditions created by the tariff protection
to the industrial corporations called
trusts. The tariff and trust issue be-
ing entirely political, can be made
to assist, rather than retard, the nat
ural growth of the country, If the
voters will investigate and insist OH
reform that will benefit them, in
stead of continuing the present sys.
TEN that plumbers them for the bene.
fit of the corDorationS.