The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1910-06-23
oXteDt to cause large wlthl.awa:s Of
no al hnnnnIIc
His Objections.

|
| ITO me g very Objectionable fcturo
OF the question Is that 1t pledges the
| government To a perpetual dent, AMI
debt that may not be diminished eX-
| oept at the viii of the depOsitoTa. II
| was the desire OF the oId i ne Of
Americans to apply princi o!es wG.ch
! they thought to be gool for Them
! selves (that is to get out OF debit
to the general government, and at
one time the government was out NJ
debt. and had surplus money in TIE
treasury. which it loaned to the several
states to aid them in sheir mNter.al
development. And after The heavy
obligations created by til, cXigencies
of the Civil war, IL was still the dc.
sire OF the old-timers TO nay these oh
legations DIS SoCn and as fast as the
public good would permit. Hlt now,
In the face OF this, measure is pre-
posed in direct conflict with these
laudable desires, and irstell pledge
ourselves to q perpetual AMI ever in
creasiDg deb:.
I'VE ara told that there Is scarcely
any European government without
this system. To me this is one Of the
strongest arguments against it, for II
is not the intention or desire OF Euro
pean governments TO get out OF de6t
ana even II the intention and desire
were present, the thing would be I'm.
possible on account of the ever In
creasing demands made by them to
support large armies and nayIes, and
ever increasing civil expenditures, be-
sides the demands made by the peo-
pie themselves TO put into operation
socielistic principles In the shape OF
old age pensions and kindred de.
mands. So that an ever increasing
flow OF money into the government
Golfers, from the savings OF the PEG
pie is the thing most desired by
them And this is the principal use
for which these savings are used in
European countries,
ut is difficult to compare dissimilar
things and gain point in argument
by It, so that the fact that European
governments necessities make postal
savings thing to be desired by them.
there is nothing in this condition to
commend the measure TO us. nor fur
nish any argument in its favor.
Works Economic Harm.
The evidence is strong that In Ell.
rope. where this principle is most In
vogue. that it works an economic
harm in that il drains the surplus
money from The outlying districts to
governmental Golfers. and thus de-
prives the people OF means TO Improve
their own local conditions. And II
seems to me that would be the opera
tion OF the law here. Rnow we are
promised that the money shall re-
main In the communities where col I
iected. and placed In the local banks. |
Out we all know that this would be /
possible only by the local banks pur. |
CHASING securities TO protect the gov
ernment deposits, and that to their
.uil race. and this implies sending all
tnls money away TO purchase sec8ri-
ticS' which can be hac only as far as
outlying communities arc concerned
oy going to the larger commercial
Cehters to purchase them. | confess
can see no method of KeepinR these
moneys In the communities where de- !
posted except by the government
taking unprotected deposits of them.
which Is net to he thought Of
Rank Injustice.
And another objection 7 hayo Is
think 1t fundamentally wrong for the