The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1907-08-16
TARIFF AND HIGH PRICES.
Prosperity Waning Bot Tasatlon Con
tinues.

n IL not a pleasant task 10 warn tho
public that there must be- a reaction
from the high pressure prosperity that
has evidently oyerstoppcd the bounds
81 safety. The recession has already
begun and how far the pendulum viii
swing IN the other direction Is the
question that concerns everyone. In
spite 90 the enormous increase In the
volume OF currency IN circulation.
money 10 tight and difficult 90 pro
cure on even the best OF security and
az high rates Of interest Merchants
In New York are paying SIX per cent
for accommodations and some Of the
banks are even refusing % discount
commercial paper az that rate. Call
money vas Nc per cent az the begin-
ming Of the month and very little 10 be
had AZ that Cxorbltant rate. business
q gradually slowing up and IN the
west merchants are awaiting the hsr.
vestlng Of the crops before buying
their fan stocks Of goods The rail.
roads are dlschargAng men and stop
ping improvements. New buildings
are not being undertaken. unless con.
tracts have previously been entered
into.
The high price o. commodities and
the resulting greatly increased cost
81 living without a compensating IN.
crease OF income. Is compelling those
with limited incomes 70 economize
There Is a general era Of strikes and
lockouts on account OF the demands
Tor higher wages and the refusal 20
pay such increase Everyone Is walt.
ing % see what the harvest viii be
and 20 arrange their business accord
inEly. II Is stlll 600 early TO deter
mine what the shortage In the crops
viii be-. but 70 e. certain that the aver.
age viii be below normal. with par.
ual failures IN some states OF small
grains az ioast There n a general
failure % the fruit crop "a many
states aud even small fruits have been
partial failure
There O. a compensation Tor tho
grower and farmer however for the
/ price they are obtaining Is higher. so
that perhaps on the average the farm.
crs viii have as much money 10 spend.
The higher prices for what they have
90 buy are the discoursging feature
Meantime the government Is collect.
ing tarin and internal revenue taxes
Tar IN excess az the need OF revenue.
oven under the CxtraynEant appropria-
lions OF congress and che end Of the
fiscal year finds a surplus Of $4,000.
600 collected over and above the out.
go. The national banks have been
loaned SiSf. 1000 600 81 the mirpius that
the enormous tartd taxes have piled
up in the last few years upon which
they pay no interest 20 the govern.
mcnt, but arc loaning oat az the high.
est rate that money will demand
We thus have the extraordinary
/ spectacle. under the present Repabll.
can policy. Of the collection from the
people OF tarin and other taxes. much
Ia excess OF the needs of the govern.
ment and these excess taxes. which
should be In the pockets OF the people.
loaned out 20 them. SO that In fact
the taxpayers are borrowing their own
money az high rates OF interest
Can any voter indorse such a syf
tenn? should not the tariff BE- re-.
vlsed 80 that the trusts will not be So
highly projected and taxation be r..
dueed? The Republican standpatters
declare their policy O. be 20 continue
90 let well enough alone and the com.
ing congress will continue that policy
% protecting tho trusts and plumber.
ing the people.