Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1907-08-16
TARIFF AND HIGH PRICES.

II u uOl " plcdSduI tHh W fhIu sAo
public that there must be a reaction
from the high pressure prosperity that
has evidently ~overstepped the bounds OF
safety. The recession has already be.
gun aud how far the pendulum will
ewing in the other direction is the ques.
ton that concerns everyone. In spite
OF the increase III the volume
OF currency IN circulation, money is
tight and difficult to procure on even
tie best Of security and at high rates OF
interest. Merchants in New York are
paying six per cent, for accommoda-
tons and some OF the banks ale even
refusing 10 discount commercial paper
| at that rate. Call money vas 10 per
cent, at the beginning OF the month
II veIy little to be had at thai eXorbi-
tant rate. Business Is gradually slow
ing up and III the west merchants are
awaiting the harvesting OF the crops
before buying their fall stocks OF goods.
III railroads are dischargmg men and
stopping improvements. New buildings
are not beng undertaken, unless con-
tracts have previously been entered INTO.
The nigh price OF commodities and
the resulting greatly increased cost Of
living, without conpeDsatluG increase Of
income, Is compelling those with limit
Ell incomes to economics. There is a
general era Of strikes and lockOuts Cd
I Acrnnut nf the a.. n,nnIa I,Y l,,I.r
wages and the refusal to pay such in
Crease Everyone Is wsitlng to see what
the harvest will toe IL to arrange their
business accordingly. IL is still too
early 10 determine what the shortage
IN the crops will be, but 1t is certain
that the average Will be below Normal,
with partial failures in some states Of
small grains at least. There Is d gener-
al failure OF the fruit crop III many
states and even small fruits have been
a partial failure.
There Is a COMPENSATE for the grow
er and the farmer, however, Tor the price.
they are obtaining Is higher, so that
/ perhaps OH the average the farmers will
ave as much money to spend. The
higher price Tor what they have to buy
are the discouragiug feature, Mean
time the government is collecting tariff
and internal revenue taxes Tar In excess
OF the need OF revenue, even under the
e1travagRnt appropriations OF congress
and the end Of the fiscal year tinds a
surplus OF ISL 900, 200 collected over and
above the outgo. The national banks
have been loaned slSI, 900 900 Of the
surplus that the enormous tariff ta.es
have piled up i'll the last iew years upon
upon which they pay no interee, TO the
government, but are loaDing out at the
highest rate that money will demand.
We thus have he extraordinary
spectacle, under the present republican
policy, OF the collection from the pe,ple
OF tariti and other taxes, much in excess
OF the peeds OF tie government and
THESE excess taxes, which should be in
the pockets OF the people, loaned out to
them, so that in fact the taxpayers ars
borrowing their own money at high
rates OF interest.
Can any voter indorse such a system?
Should not the tariff be revised 90 thai
the trusts will not be So highly protect
ell and taxation be reduced? The IT.
publican stand pTters declare their
policy to be to continue Ia let we'll
enough alone and the coming
Will continue that policy Of protect.
ing the trusts and pIundernp the
people.