Rensselaer Republican, Volume 26, Number 8, Rensselaer, Jasper County, 19 October 1893 — TOPICS OF THESE TIMES. [ARTICLE]

TOPICS OF THESE TIMES.

WITHOUT A PRECEDENT. The proposition for the annexation of the Territory of Utah to the State of Nevada, proposed in a bill recently introduced itt' Congress, is unprecedented in our political history, and calls public attention to the peculiar position of the diminutive State of Nevada in the sisterhood of States. Always a reproach to representative government, passing years have only served to make it a by-word and add to the disgrace of a situation apparently without a remedy At the census of 1860 the Territory of Nevada had a population of 6,857 people, and its population in 1870 had only reached a total of 42,490. The Territory was admitted to the Union as a State in 1864, with an unknown population, but the apportionment of the previous year called for 127,391 as the number necessary for a Representative in Congress. In 1880 the State had 62,226 inhabitants, while the apportionment for Congressional purposes called for 151.911 as the number necessary for a Representative. In 1890 the population of Nevada had fallen off* to only 45,761, and today its population is less than any territory except Alaska, and it has not a quarter of the population fixed for a Representative under the last apportionment act. Yet Nevada has a Representative in Congress and as many Senators as the Empire State with its millions of population. The injustice of the situation is apparent to all. Utah, if annexed, will bring in a population of 225,000,- and an additional area of 82,190 square miles, with wonderful resources, both mineral and agricultural, and a great and growing mercantile business as well. Polygamy is practically at an end in Utah, and the Mormon influence is fast waning before the tide of Gentiles constantly flowing in. The project is regarded favorably by all parties, as it would settle the vexed question of the admision of Utah as a separate State, and also remove the stigma of a rotten borough commonwealth, as Nevada is universally conceded to be.

BUILDING ASSOCIATIONS. It is one of the instructive features of the recent financial troubles in this country that the building associations have not in any material degree suffered, nor has confidence in their stability and usefulness been impaired. But very few associations have failed, those suspending having almost without exception gone to the wall through the dishonesty and embezzlement of officials, and not from any cause that could be traced to the prevailing depression. The fact is comforting and reassuring, and goes to show that the building association and co-operative banking system will grow and increase in the volume of business that must necessarily keep pace with the growth of the country. There are 5,860 buildingassociations andcooperative banks in the United States. Pennsylvania, the mother of the building association idea, has 1,100 of the institutions that have proved so useful to the poor of the country. There is a total membership of 1,700,000 in the United States, and the assets of the associations are estimated at $500,000,000. With proper State laws and restrictions, and a reasonable amount of care among stockholders in the selection of officers, these clearing-houses of the common people may be made and maintained as an ffhmixed and inestimable blessing to their promoters and the country at large.

THE OTHER SIDE. The efforts of the present President and government of Mexico to enlist the sympathy, attention and good will of the people of the United States by protestations of great liberality of opinion towards free institutions and numerous concessions to American citizens for tbe attraction of American capital and enterprise to various great undertakings, has had, as it was doubtless intended it sliould have, the effect Of creating a public opinion in the United very favorable to President Diaz, and also to what has been believed i to be a great and growing and enlightened republic on our southern border. Mr. E. S. Gregory, of Boston, formerly long a resident of Chihuahua, Mexico, writes to the New York Sun in quite a different strain, and desires to go on record as protesting against the false impressions so largelj’ extant on this subject. He avers that there exists in Mexico a universal hatred of the United States; that the Mexican government is ope of tyranny, fraud and violence; that it is no republic at all; that elections are in fact never held, but are a mere pretense, the result being obtained by military force; that the principal journals of New York are the bought and paid for friends of a government whose

two weapons are Intimidation and bribery. This is news, and coming from a man who challenges investigation of his statements, is worthy of attention. It is possible that the American people have been hoodwinked and deceived into forming friendly opinions of Mexican progress, and it is proper that we should be set right if such is the case.

EDISON’S IDEAS. The money question has at length penetrated into the laboratories of the Wizard of Menlo Park,andhe has stopped making rubies, emeralds, electric lights, phonographs, microphones, etc., long enough to give to the world some new'ideas on curren-cy,-which, like all of his ideas, are novel to say the least, In an interview at New Xork on the 2d inst., Mr. Edison said: “The hankering for gold and silver in traditional. What we need is a new standard of value. The best dollar could be made out of compressed wheat. Take a bushel of wheat and* squeeze the water out of it, compress it into a hard cake the size of a silver dollar, and stamp the Government mark upon it. That would represent actual value: The bushel of wheat would thus become a permanent unit of value. Gold and silver could be dispensed with and the bimetallic problem would be solved. If metal must be the basis of our money, let iron be the substitute. Iron is the most precious metal. Mankind could dispense with gold and silver, but iron is an absolute necessity. Iron must be constantly produced or its price will steadily rise. Why not issue treasury certificates on iron? Instead of loading up the treasury with useless gold and silver, as people would want bills of large denominations to accompany the wheat dollar, why not buy iron or steel instead and issue treasury certificates upon that?” THE PANIC. The panic of 1893 so far as moneyed institutions are concerned, is past. The storm that wrecked so many seemingly sturdy craft has waned, and only the wreckage that continues to wash ashore in diminishing quantities serve to remind the business world of the disaster, which though very destructive, has been in comparison with former visitations very light. Deposits in banks are rapidly increasing and financial statistics show that if the present rate of increase is sustained they will gain more in the next three months than they lost during the period of distrust through which they have safely passed. The banks of New York have made such a remarkable showing that confidence has been practically restored, and the reduction of the Bank of England rate to 3J per cent, has strengthened the buoyant feeling. For the first week in September the total bank clearings were $733,000,000. The second week they were $792,000,000, and the last week $798,000,000. This is more than 33 per cent, less than for the corresponding weeks of last year, but is regarded as very encouraging. The volume of trade has improved. The iron mills in the Pittsburgh district are being put into operation and the industrial situation throughout the country is much more hopeful. Values on the stock market have been well maintained.

THE PENSION BUREAU. There has been much criticism of the Pension Bureau under the new administration—as well as under the last. The statements of this department of the government are therefore of special interest to a large number of our readers. Since March 4, 1893, 55,399 new pensions have been granted. Of these 4,128 were issed since Aug. 20; 1,712 were original; 1,497 increases; 326 were for disabilities contracted in the service; 316 under the act of June 27, 1890. It is claimed that all cases, of suspension will be disposed of by October 10, and it is estimated that seventy-five per cent, of these cases will be returned to the rolls, but in the majority of the cases of suspension restored the rate will be changed.