Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1906-12-07


man. no woman. can shirk the primary
duties oiEfe, whether for love of ease and
pressure or Tor any other cause ana re-
cain hlsor her self respect.
The Subsidy Issue.
the cnIgr u.s. oSI,n an an III conrnrm,G Us
49, tOtSLo99 ~ t"o SuoJeCt9 eoiiocLl"IS
w a : nay ~iaequGntly Dttort CoHiiluL ~
6aVaior MN 'hgIn; enc Is tmG 4ueItioT r .
E'ofi6 -NllGIlGal shipping. l I'LSt
,hht " law SinDouS ING III SupSt"mcc IL
nrvNS, or Il major part or inc Vows *
PrGaS@t m the report on TINS subject iall
before The housr at Is last SESSION Will be
passed | am well aWar" that in former
AS1Is GJCct"Haole measures nave pteA
proIosti IN ItlrrcnC" To- the ehG"uraSr-
nent f American shipping: but il seems
To me that tn" proposed measure is as
nearly unobj"ctionablc as any can be. 1t
board states, such as Maine, LOUISIANA
and Nish.ngton; bar what benefits part
cstry in the west is really of benefit, not
only to the Rocky mountain states, but
to all our country. If it prove impractic-
able to enact Il law for the Acknowledgement
OF shipping generally, thrn at least provi-
cation with South America. notably for
iast mail lines to me cher SouIh Ancg.-
can ports. II IS d.Scrrditablr to us that
rdmmrricaIf ION in, Tho shane of lines of
stcamers with South amrrtc2, should in
thar Tn1 + =. t,,. .,,+.,l,t Inr - a ,{iS,R-
ya n &C. co;nHa roi i' ~ tbn h3stmcsI name
Of EuTT0nc - ~ 'N'''N
r,,rra,o, peForn
especially call your attention to the
second subject. lhr 'NndltIoI - oHf sur
Ef3&y laws me nailGnal hahk nGl ms
enormous business developmcnt of the
country and Within ten years therr has
from SILL to $&3-0S. For, srvera! years
GXldenGe mas been acc"mui2unG dhal adj
currrjncce OF "2ch, crop season rmph4Si@rs
me defects "I tn" present laws. There
mus soon be a revision Of th"m, he
cause to leave th"m as they are means
70 incur liability of business disaster.
Since your body adjourned Their" has hocn
a ttuctuation in the interest on call money
preceding six months,
step in and by wise action put a stop to
The most violent period of oscillation.
advance in commercial rates and tn IN
certainty felt in the sutliciency of credit
even at high rates. All commercial in
tercsts suffer during each crop period.
Excessive rates for call money in New
York attract money from the interior
banks into tho speculative fed: this de
pletcs the fund that would otherwise" b"
3Eaiia1lG Ior Cotlhl"rci4l uses ana CON-
ntrrc.al borrowers are iopcJu 20 pay ~
H"ttl n lateS' 50 M cdCn lIll a ,LN'
IN me ShaPG OF lhCrGaSed lntErrSt chaThJ@
~ pace" on me "no4e commerce Oh the
country.
shows y , 5has our SoT'T P%Ss"nt sys' 's'rSs is ' s%rt-
Oh oeIrc''Ve' lhcFe Is ieeu OIL "
ci2 an civ boro, uopr If tho
PIopnSCH IrdHSrS mu9t ~ iut'L ILUil
Cohsiocrallon because thcy are coInp!l-
2nI Gend 70 va d's1nTG c sIsd r1gn INK a anG
we LL"1o aisG u1& Sut %hS
pan "I!ci "IuLG ma sS[lalLy ilnpa'I tno
EEaaInEGe u tHC GnnIet @barGS pCL tfn n
pohuS now ,pIedSGd 10 secure clfcuiatloh,
ne issue Of WlLlch was Llaoe uIdcf con
ui.iohS peSuna[ly erSoloaple 70 tHe trGan-
H3it9uS llallS 49, lItttiLS 49,, d.
Roacu py GNppTI 0nIIhLicteeS o. ua na n
d dSa ~ VIII fdr, [G ~ toriu :
Cdivo transit to vour attentinn by the
present Secretary Of the treasury. the
nnraIad II" u ~ q %o 49,
apPrpVea py many pron1neHt ba!iRGrs
az banKn sbo,IId bba 1e - ,tf ID P't ~
'tS az e th ~
i2auc d spgcillCF piopoa . \ men cap;
re bn ~ taTeS = = 80 biSgbh q r Na ,s .t re liz
ne notes pack When not wantSd IN legi-
LIE u @cP,c ~ ri ~ ~
ao apnI pnELSs ~ , .o ny SSt imC nLuci-
scIcS piesTn'G9 10y ...hes .. ati'"StHeS'
I do not say that this is the right
system. l only advance it to emphasize
my belief that there is need for the adop-
tomato and open to all sound banks,
SO as TO aHola an poSsioHeEy OF aiScritn,
woIia tend 70 prevent the snasus Of
high money and sneCuIation which now
obtain in the New York market: for
certain seasons of the wear. and its ac-
cnrnIIIa tiGn ot New Work ten,nts hanlxcrs
to lend it at low rates for speculative
nIrDosas: whereas At otbcr tiToos when
the crops are being moved there is urgent
need fdr a large 6ut Temporary incrSasc
in the currency supply.
It must never be forgotten that this
oIestion concerns business rnen gcner1ny
1Tifc as much as hanLors: osnHcialiy iS
| this true of stockmen, farmers and bust
nnSs Non in tho wnsf. for OF nrnsnnt ot
in interest rates between the cast and
| the west is from 6 to 10 ncr cont, where
as in canada the corrcspnndinr differences
a. a. IN + ga" > ner 'te Az n nI,6 % mns Of
course gunard the Interests OF wesicTn
! and southern bankers as carefully as it
guards the interesIs Of New Yorl; or chi
the ~standpoints of the farmer ana mo
merchant no less than from fhC st1Td-
points of the CITY banker ana tho corHfrv
banker,
The law should be amended so as eDe-
c]iicalv TO nr0yido that thc f1r1d i%riIIcd
from customs, duties may be- trra;rd NV
the secretary of the treasury as he frc,t -
funds Ohfained under tho intrrraI rcv,-
cnue laws There should he = rnrsiL
! cradle increase in bills Of small dcnGmi-
nations Permission should be- nivao
hanks if necessary under soItlc1 re-.
strictinns to retire their circnlnIion 70 :,
larger amount than So, 900, 900 a month "
~Fh'''PP'ns iarTT.
I most earnestly hope that the bill to
provide a lower tariff for or else absolute
come a law. No harm viii come to any
American industry; and while there viii
be some small but real material benefit
come by the showing made as To our pur-
pose to do all in our power for Their