The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1907-08-09
TARIFF AND HIGH PRICES.
Prosperity Waning But Taxation Con
tinues.

n is not a pleasant task 70 warn the
public that there must be a reaction
from the high pressure prosperity that
. has evidently overstepped the bounds
! OF safety. The recession has already
1 begun and how far the pendulum viii
swing in the other direction is the
I question that concerns everyone. In
spite Of the enormous increase In the
volume OF currency In circulation
money is tight" and difficult 70 pro-
cure on even the best Of security and
AT high rates OF interest Merchants
in New York are paying six per cent
for accommodation and some OF the
banks are even refusing 20 discount
commercial paper al that rate. Call
money was Is per cent az the begin
ming OF the month and very little TO be
had ar that exorbitant rate. Business
is gradually slowing up and in the
west merchants are awaiting the har-
vesting OF the crops before buying
their fail stocks OF goods. The rail
roads are discharging men and stop
ping Improvements New buildings
are not being undertaken. unless con
rra'ts have previously been entered
into
The high price OF commodities and
the resulting greatly increased cost
q living. without a compromising in
crease OF income. is compelling those
with limited incomes 10 economic
There is a general era Of strikes and
lOckOuts on account OF the demands
for higher wages and the refusal 10
pay such increase Everyone is wait
ing 70 see what the harvest will be
and to arrange their business accord
ingly. II is still too early 10 deter
mine what the shortage in the crops
viii be. but IL is certain that the aver
age will be below normal. with par
tial failures in some states OF small
grains az least. There is a general
failure of the fruit crop in many
states and even small fruits have been
a partial failure
There is a compensation for the
grower and farmer. however. for the
price they are obtaining is higher. so
that perhaps on the average the farm
ers will have as much money 10 spend.
The higher prices for what they have
TO buy are the discouraging feature.
Meantime the government is collect
ing tariff and internal revenue taxes
Tar in excess Of the need OF revenue.
even under the extravagant approprsa-
tions OF congress and TIE end Of the
fiscal year finds a surplus % sS7 .000.-
600 collected over and above the out
20 The national banks have been
loaned S1Si.000. 900 Of the surplus that
the enormous tariff taxes have piled
up in the last ew years upon which
they pay no interest 70 the govern
ment but are lOaning out at the high
est rate that money will demand.
We thus have the extraordinary
spectacle. under the present Republi-
can policy. of the collection from the
people OF tariff and other taxes. much
in excess OF the needs OF the govern
ment and these excess taxes. which
should be in the pockets OF the people.
loaned out TO them. so that in fact
the taxpayers are borrowing their own
money at high rates OF interest.
Can any voter intorse such sys-
TEN? Should not the tariff be re-
vised so that the trusts will not be so
highly protected and taxation be re-
duced? The Republican standpatters
declare their policy to be to continue
70 let well enough alone and the COM
ing congress viii continue that policy
Of protecting the trusts and plumber
ing the people.