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mm i 4 . . . . i VOL. VI. A POPULIST FINANCIAL SYSTEM. Our Exchanges are This Plan in All Its Provisions. iETTEB THAN CARLISLE'S PLAH Tho Secretary of the Treasury has pub lished a plan to get rid of what green b"ks we hart left, and bestow upon bjatkers alone the power to issue fiat - mosey, money that has no intrinsic value in it, but which, being clothed with the power to make exchanges, they can loan to the people and draw from them for the use of mere pieces Of paper an enor mous amount of usury and wealth. His plan is unjust, unequal, unconstitutional. It would be class legislation of the worst , sort. A better plan for providing safe, sound, sufficient currency must be found, and we propose the following: Repeal all laws permitting private cor porations to issue, their notes for use as money. Enact a law providing that every state may make and deposit non-negotiable bonds in the United States Treasury in sums not to exceedintheaggregatetwen-ty-five per cent of the actual value of its taxable property, and that for bonds bo made and deposited as security, bearing an annual revenue to the government of J one-half of one per cent, it shall be per mitted to draw from the Treasury ninety percent of their face value in coin or greenback dollars, which shall be full legal tender for all debts public and pri vate. . By state laws that may beenactedsuch state bonds shall be in quantity, dupli cates of county bonds deposited with the state treasurers, county bonds to be issued to provide only what money each county needs, and to be limited also to twenty-five per cent of each county's taxable property, and made to bear to the state one per cent annual interest. For each deposit of county bonds with the State Treasurer the state shall de posit the same emount of state bonds in the United States Treasury, r the money which shall be advanced nch bonds shall be paid directly to thetfrop er officials of the counties whose bonds are deposited as security with the state. The funds so provided and secured by bonds shall constitute the capital for county government bauks which shall be ir. charge of regularly elected county (bank) officials whose bonds shall be ap proved in four times the sum the people may have on deposit at any one time. The presidents, cashiers and directors of these public banks shall be paid reason able, fixed salaries. The counties shall each provide their banking representatives the necessary safety deposit vaults, fire proof safes and other needed furniture, blank books, etc., to conduct the entire loan, deposit and exchange business of the people of the lounty, furniture to also include a com plete set of abstracts of titles of all real extate in the county. TI19 county government banks shall be fey law required to receive all surplus cash which individuals may wish to de posit, and to pay b'ack to depositors the full amount of their deposits, but no in terest shall be paid on such deposits. Loans applied for shall be passed upon by a board of three bank directors, who must be agreed that the security is worth at least double the amount of the loan desired. Finding the security amply sufficient, loans shall be made on im proved farms in size not exceeding 640 acres, up to half their selling value, at two per cent per annum. Oa homesteads In town (lots built on and owned by th parties living on them), niinin g towns excepted, loans limited to 33 per cent of their cash value shall be made at two per cent. On business "'operty up to 83 per cent of its cash value loans aV two per cent may be made, provided the owner does not possess more than a half block of such property. On warehouse receipts for grain and cotton stored in county, state orgovernment warehouses, loans at two per cent may be made up to 50 per cent of their market value. Per sonal security for thirty, sixty and ninety days, or fractions thereof, may be taken good repute, two of whom are established Comparators Champions ot Morals. Nebraska City, Dec. 16, 1894. Bbotheb Gibson I did not get the no tice of the meeting called for Saturday and Sunday next, consequently I have not time to enter into details on the sub ject proposed, but I will say this much at least. Let it be distinctly understood that we are the champions of morals! And that the only object we have in view is to plant a mission station in the center of this world of competition, that threat ens to entirely blot out of existence that Divine teaching that admonishes us to love our neighbor as ourselves. And when we consider how few there be that understand what that means, does not the idea of mission stations all over this land commend itself to every tiwashtlstndfint ,pf. 8odplqgy?Jn taking a backward glance at the past Asked to Consider in Dusiness in the community and pos sessed of ample property to collect the debt by law, such loans to be discounted at one-half to one per cent. Above rates to be reduced to cost ot conducting the business when founf above it, as doubtless would be the caw as soon as all money came to be deposit ed in the government banks and all loan ing should be done by the people's banks. The above plan, would make losses ex ceedingly small if adopted with all the safeguards, profits even at these rates, cut down to perhaps one per cent, over labor cost, would much more than make good such possible losses. . The tax-payers would thus be secured by the profits exceeding losses, and by ample bonds against the occasional dishonesty of an official of their own selecting. The state would be secured against any fraudulent or over valuation of particular counties by a state board of tax rate or valuation equalizers and by the entire taxable property of each county, and the nation al government would be secured absolute ly in its state loans by the state bonds deposited in the U. S. Treasury. There would be no more money called for (or bonds given) than the people with secur ity judge they individually need to em ploy labor, and if money could be bor rowed of county government banks at rates, say, not to exceed one per cent a year above the labor cost of loaning it, all private money loaners would be driven out of business, and their money would either be turned into more labor-employl ing capital or directly deposited with the government and so would go into the circulation without enforcing usury trib ute. The volume of money would not be greatly increased by the system we pro pose, because with government banks furnishing money at cost it would draw all money not for the present needed bj individuals to their care for absolute sf curity, and when deposits exceeded de mauds bonds could be paid off and can celled. But an amount of perpetual state bonds drawing only one-half of one per cent a year and of county bonds dra ring one per cent a year should be kept de posited and not paid off, to supply se curity to the government for whatsver money can be used profitably as capital and is needed in excess of coin to ioak additional state charge would be some more than the labor cost of this machin ery of credit, but it would not be a bur den, for it would furnish an income that would reduce other taxation. There would be no interest tax, except the slight one going to the government. . Now are there any who wiH object to the above financial system. Yes, the bankers will object to it; all who own bank stock will call it frightful names. It is not in their special interest, as are the Baltimore and Carlisle plans Were it to be enacted into law the money power would be destroyed and honest la bor would be enthroned. It would pro vide capital at nearly labor cost for those who new must pay from five to a hnn dred per cent a year bonus for it. It would prevent panics and periods of com mercial paralysis and enforced idleness and starvation. It is a just currency system that would bring to the masses unheard of prosperity, therefore the classes, the bankers especially, will view Jt with alarm and will frighten foolc with their cries of, "Socialism!" there are many of our old citizens can well remember many things that will il lustrate the working of a co-operative colony. Many of them can call to mind the wool raised on the farm, carded, spun and wove into cloth by careful mothers and sisters, each member of the family doing his best to advance the interest and secure the comfort of the other mem bers, each family producing for its own use and having absolute control of the primal necessaries of life. But all this is changed. . Today our best efforts are di rected to producing for profit. Then the only object iu view was to produce what tho family needed at home. Now the question comes to us, what shall we do? The old Hebrew prophet gives us the most plausible answer to tne question I can think of, vis: "Stnnd ye in the ways and ask for the old paths, where is the f.Kns:fto! v tho remndv: Get Wk to I I first principles! In otner worus, orgau-T LINCOLN, NEB.; THURSDAY, DECEMBER 27, 1894. lie a co-opr.t.tvecolonvon the Christian plan, all being "members one of an other." Now I know some very good people will raise serious objections to the move ment, and if I had time, and space would admit, 1 might be able to satisfy them of the practicability of our plan of co-operation. But I want to inquire as to our fitness for the work in hand. Remember ing our former education in the school of competition, do we fully realize that to succeed we must be born again? With us old things must pass away; and if we are to be the instruments in inspiring others in the principles of co-operation, I reiterate it, we must be born again. Self denial is the keystone of the co-operative arch, and upon our capacity to exercise this virtue depends, not only our happi ness as a family, but our perpetuity as a colony. I might cite you to a few in stances of the benefits of self-denial. The patriotic women of '76 refused to indulge in the taxed .tea of King George, al though they idolized the fragrant bever age. And perhaps there are those living that can remember how the society of Friends (Quakers) refused to be par takers with human slavery by ignoring all its productions, using only the pro duct of free labor. Now are we ready to separate ourselves from the world (com petition) by a refusal to indulge in the luxuries produced by monopoly. Now do not understand me that this is a nec essary test of fitness for membership in a colony. I only mention these facts to indicate the importance of this principle of self-denial in securing ultimate success as a colony devoted to the principles of co-operation. With my constant prayers to "our Father in heaven," that His will may be done on earth as it is in heaven, I am fraternally yours, 8. Littlk. IS IT ANTI-SOOIAL? The Criticism of an Able Duluth Newspaper on the Debs Decision. The decision convicting Debs may be good law the court is the final judge in that matter. But it is very much to be regretted, for it is retrograde, and anti social. If it stands it has done a serious harm. For in holding that a man may be punished for ordering a strike it denies for the first time the right to strike, since a strike without leaders under pres ent conditions is an absurdity. And the right to strike is the sole de fense of labor organizations, no matter bow unfortunate strikes in general or in particular may be. - Workingmen will organize and will strike at times because they must. It is necessary and it is their right, no matter what the law says. Then if the law forbids them to do it by open methods they are bound to take secret methods. If this decision stands every strike is a conspiracy and every labor organization stands on the same footing as the Mol lie Maguires. It is an untenable posi tion. It is a monstrous attitude to ward society in which to place the men who are the foundation of the state. In the open labor organizations have made steady progress toward better methods and have steadily left behind violence and sneak warfare. Forbid them to take such action as they think neces sary exception pain of imprisonment, and you compel them to fight in the dark and invite them to use the weapon ol darkness. In the open they have worked, forward until the trades assembly iu Duluth in vites the newspapers to report its pro ceedings it has nothing to conceal. A growing sense of responsibility is the natural consequence and fairness is bred by the practice. Declare that their asso ciations are outlaw and they have no re uource but to do as outlaws do, to be come irresponsible and lawless as the Sugar trust or Staudard Oil itself. It may he good law; but it is false so cially, and if it is not reversed by the higher court it will be reversed by the highest court of all that makes the laws. Duluth Commonwealth. One Hope Lef t- Tbe second was despondent "The other fellows have agreed terms," he faltered. The was obviously disconcerted, to our pugilist but his at once buoyant, courageous nature asserted itself. "There is yet a chance," he exclaimed, joyfully "the governor of the state, you know." Thus despair was eventually com pelled to take flight Holiday Rates via the Burlington Route. December 22, 23, 24, 25 and 31st, and also on January 1st, tickets to points within 200 miles will be on sale at rate of fare and a third. Minimum rate 50 cents. Tickets and information at B. & M. depot or city office, corner 10th & O St A knowledge of Double Entry Book keeping is the very foundation of busi ness success. You can employ your leis ure moments at home in acquiring knowledge of this valuable science and qualify yourself for a good position. The National School of Book-Keepino, 232 Union Trust Building, St. Louis, Mo. have pupils in allB parts of the country. You 8nould write for Particulars, MEEK Visitors from Over the Sea Speak fot International Union. PLATFORM VIRTUALLY POPULIST- Headquarters Removed to Indianapolii , Go m pert Retires and MeBride . y ' of the Minus' Union i Made President. ,.- The Action of Woods Donounced, ' ; The American Federation of Labor, at its annual convention at Denver, just held, elected John MeBride, president of the United Mine Workers', president of the A. F. of L., in place of Samuel Gom pers, who has for twelve years been at the head of the great organization. Me Bride is the man who led the great min ers' strike of last spring, which called out 180.000 miners, and 50,000 or more other associated or dependent . work men. He is a stronger, more aggressive leader than Gompers, a man of courage and judgment, devoted to the interest ol organized labor, and a man who sets his face" like a flint against lawless violence. In the convention were two elements, the socialists and the "pure and sim ples'," struggling for supremacy, T. J. Morgan of Chicago , being one of the chief ' leaders of the former element, and McGuire of Philadelphia of the latter. The conflict between these two parties was not a decisive one. The defeat ol Mrj Gompers was a victory for the radi-eaJV-and.the defeat. of the preamble committing the A. F. of L. to independ ent political action, was a check upon the Morgan-led party. Burns, Benn and Holmes were brought over from England and took part in the proceedings of the convention. Gover nor Waite, T. M. Patterson (editor of the News) and Rev. Myron Reed of Den ver, also Rosewater of Omaha, and others, addressed the convention. 1 The platform adopted, as near as we can make out from the somewhat confusing telegraphic reports, is as follows: 1. Compulsory education. 2. Direct legislation through the refer endum. 3. A legal eight-hour work day. 4. State inspectors for shops and fac tories. 5. Liability of employers for injury to health, body, or life. 6. The abolition of contract system in all public works. 7. The abolition of the sweating sys tem. , 8. The municipal ownership of street cars, water works, gas and electric plants for public distribution of light,' heat aud power. 9. The nationalization of telegraphs, telephones, railroads and mines. The abolition of the monopoly system of landholding and the substituting therefor a titleof occupancy and useonly. Resolutions were adopted denouncing the sentence of Judge Woods, imprison ing Debs and other officers of the Ameri enn Railway Union for leading the strike of last summer, and pledging them finan cial aid and support. The headquarters of the federation, by vote, was removed from New York to Indianapolis. At tfie opening session of a new chapter of the Daughters of the American Re volution, recently formed in Los Angeles, CaL , with Mrs. Jessie Benton Fremont' as president, tea wat brewed in camp kettles that are felicitously believed to have been used by Washington and Lafayette in the Revolutionary war. Will Yon Do Yonr Part? Look on page 2 for our clubbing rates with The Nonconformist, The Representative and The Prairie Farmer. Remember, friends, that we have to de pend on you, your personal work, to put our papers in the hands of the voters Times are hard, but there is no reason why every one of our subscribers should not send us in at least one new name. You could do it by a little personal work, couldn't you? Then our list would be doubled. Friends, do your duty. Have we not among all our thousands of readers, 500 who will make some friend or neighbor who will appreciate it, a Christmas present of a year's subscription to Thi wealth Makers? The good you would do them and others directly and indi rectly would last through the ages. 3S&a4lMUe-S?)!t to respond? THE DENVER SOME FACTS ABOUT TRUSTS. Methods Used to Crush Competition 1 Standard Oil Trust. ' In 1869 the Standard Oil trust, the first of its kind, was organized. It was a combination among the refiners of crude petroleum in Pennsylvania and Ohio. This scheme was attended with such as tonishing pecuniary success that it was in the course of a few years applied to almost every kind of industry, says The Trade Unionist. The proprietors of var ious mills said to each other: . "We are now spending large sums of money in the race for business in adver tising, in sending out drummers, and so on. If we will only pool our property, and put it under, one control, we shall save all this expense; wecan also dismiss many agents aud employes, and one superintendent or cashier will do all the work that is now done by twenty; and we can charge what we please for our products, for we shall then have no com petition. In short, let us quit trying to cut each other's throats, and let us be gin to fight the public." This reasoning resulted in a trust, and with the results of trusts we are familiar. As soon as the trusts are formed the prices of the goods are marked up.and as every increase in price means a decrease in consumption, the production Of goods is not so great as it was. Therefore cer tain mills are closed, or are run on shorter time, and workmen are told that their services are no longer needed. The profits derived from this proceeding are phenomenal. Thus, on the establish ment of the Standard Oil trust, though the railways were carrying the products of this monopoly nominally at the same rates imposed on other refiners, they paid the Standard Oil trust $10,000,000 in eighteen months in rebates that were agreed on. The result was that its com petitors were ruined, and idle factories, old pipe lines no longer used, and busi ness wrecks throughout the country give evidence oi enormous economic waste. The most marvelous thing was that by its agreement with the railways the trust not only secured and received a re bate on. its own shipments, but also on all shipments of oil made by other pro ducers. A few years ago the Cotton Seed Oil trust by a single stroke of the pen reduced the price of cotton seed from $7 to $4 a ton, thus realizing two mill ion dollars per annum on that item alone; the loss being sustained by the planters.who raised the seed. It would be of little use to put down competition unless it could be kept down. To accomplish the result, the trusts resort to measures which are very effective. If a number of men, say in the south or west, couclude to begin the manufacture of some article of necessarj consumption, it, will not be long before they receive a letter reading somewhat as follows: "We notice with regret that you pro pose to start a factory in your place for the purpose of making the commodities which we are now producing in a man ner acceptable to dealers. You are no doubt aware of the fact that for many years we have supplied your market with articles of that kind. This we have done at the lowest possible cost of pro duction. Our duty to our customers as well as to ourselves forbids that we shall sit idly by and let our trade be taken out of our hands. We therefore think it proptr to advise you that if you persist in your purpose we shall sell the articles that we manufacture in your town and country at much less than you can make them for. Hoping that you will receive this communication in the same friendly spirit by which it is dictated, we remain, etc." This letter is signed by some well known manufacturing firm, and means what it says. On inquiry the promoters find that while they can start their fac tory with a capital of f 100,000, it will take a million more to fight the battle with monopoly; therefore they usually desist. Occasionally a very rich man may start an opposition factory; but in that case there is no guaranty that if he comes out safely from the conflict with an established trust it will not very soon disappear in the capacious bosom of that trust, with a participation of the extra 25 per cent that the trust levies on the consumer. It has sometimes been said that the ef fect of the trusts is to bring down prices, owing to the greater cheapness with which goods can be manufactured on a large scale, and that the proof of this lies in the fact that refined oil is now sold for less than it was before the Standard Oil trust was formed. In this statement there is no truth whatever. It would be strange if these trusts should forego the very objects for which they were created. The truth is that the price of oil has gone down because the Standard Oil trust was never able to corner the entire produc tion, and has therefore always been sub ject to the law of competition; and be cause of the extraordinary development of the oil industry in Russia, which has reduced prices the world over. But the evil does not stop here. Lord Coke pointed out an evil effect arising out of monopolies from the fact that the public are defrauded by having goods of an inferior quality imposed on them. Those who have the absolute power to fix whatever price they please on the commodities that they sell may freely in dulge that privilege without reference to NO. 29 Send Us Two iier; With 9. and yonr own subscription will be ex tended One Ye sir Free of Cost. . . quality. The result of our monopolies has been that goods of greatly inferior quality have usurped the "market of the country, and have placed a stigma on our products abroad, turning out in some cases, as in the lucifer matches, which have been put on the market for years by the match trust, articles so de plorably bad that nothing like them can be found elsewhere in the whole world. Judge Cooley, whose opinion has al ways been listened to with respect, says : "A few things may be said of trusts without danger of mistake. They are things to be feared. They antagonize a leading and most valuable principle of industrial life in their attempt not to curb competition merely, but to put an end to it. The course of the leading trusts of the country has been such as to emphasize the fear of them. When we witness the utterly heartless manner In which trusts sometimes have closed manufactories and turned men willing to be industrious into the streets, In order that they may increase profits already reasonably large, we cannot help asking ourselves whether the trust as we see it is not a public enemy." While the trusts are thus making in ferior articles of consumption, and sell ing them at extortionate rates, they fre quently declare that there is an "over production," shut down their mills, turn their workmen out of employment, and wait until the needs of the public require the payment of the coveted prices; the phrase "overproduction" having with them a technical meaning, which, being interpreted, signifies that the trusts are not making as much money as they want to maker f::': ir", i--(- Aladdin and Hie Ump Outdone. The following is a copy of a dispatch that was sent out from the city of New York on Thanksgiving day: "Orders were issued today, from the, headquarters of the American Sugar Re finery, in Wall street, to shut down all the refineries of the company in Boston, New York and Philadelphia. Fifty thou sand operators will be thrown out of work." . " -: . We have often been told by politicians and preachers that rich men are neces sary to give poor men work. If this theory is true, these fifty thousand men have the right to mandamus the Ameri can Sugar Refinery to take them back on living wages and to enjoin it from turn ing them off whenever it feels like stop ping the output and raising the price of sugar. , N But this is not the main thought sug gested by the above item. The startling thing about it is the demonstration of tho power and truth of magic. We have been taught to discredit the story of Aladdin and his wonderful lamp. This hero of the imagination, by rubbing his fingers on a certain lamp, could call up a slave to serve him. But in the light of the developments of modern commerce, the story seems reasonable. In fact, Aladdin's lamp and its miraculous feats cannot hold a candle to the writing pen of a millionaire. Here in New York we have a man at the head of the sugar in dustry, whose pen, rubbed a few times over a common sheet of paper, can in stantly have fifty thousand slaves do his bidding. Verily there are things under heaven and on earth not dreampt of in Horatio's philosophy. Western La borer. X Mr. Bellamy Speak. The New Republic one week ago critic ised the proposition of Mr. Taubeneck to reduce the demands of the People's party to the money qustion, with a view to gaining the vote of the pure and simple free silverites. A "marked" copy of the paper was sent to Mr. Edward Bellamy, and the following vigorous letter in re sponse to it has been received: ... mr. Bellamy's letter. Chioopee Falls, Mass., Dec. 10, '94. Editor of the New Republic. Dear Sib: A copy of your paper for the 6th inst. has been sent me with a marked article, condemning the idea ol committing the People's party to a one plank silver money platform in place ol the Omaha declarations. I agree entirely with you as to the unprincipled and sui cidal folly of such a plan. It would be as wicked as it would be fruitless. Far from limiting and reducing our demands, we must, as you well say, extend and em phasize , them. We must demand the democratizing of our industrial and commercial system by its collective own ership and management in the public in terest. Economic equality, as the only adequate basis of political and social equality, must be avowed as our goal. Fraternally yours, Edward Bellamy.