Newspaper Page Text
August 29, 1895.
THE WEALTH MAKERS. 3 SPECIOUS SOPHISTRY. Metal I Not Domonstlud So Lone as Its Price la Determined by Flat of Latr. From the August number of Rhodes Journal of Banking I clip the follow' Ing article: , "To put gold on an equality with sil ver it is only necessary to repeal the law which now permits private Individ uals to take gold bullion to the mints and have it coined into the gold coins of the United States. This would re move beyond ail question the com plaint that is now made that gold is a metal favored beyond its merits. "Instead of the present law let the government purchase all gold bullion offered at the rate of a dollar for every 23.22 grains of pure gold, paying for the same with gold certificates. The mints could coin as much of this hul- lion as there happens to be a demand for, retaining both the coins and the uncoined bullion to redeem the gold certificates. Most of the bullion could be kept in the form of bars such as are now prepared at the mints forexporta' tion. There would be no free coinage of gold any more than of silver. The free coinage of silver dollars from the present stock of silver bullion could go on to the extent there was any public demand for them, and whenever this stock of silver bullion became exhaust ed then more could be bought sufficient to keep up the requirements of the sil ver coinage at the market price. The gold coins would, of course, be minted on government account and any seign iorage or gain there might be would . accrue to the treasury in the same manner as upon the coinage of silver bullion. "It is not probable that there would be the least objection on the part of the gold monometallists to the depriv ing of gold bullion of the right of free coinage. Such a course would make it clear that the right of free coinage gives no value to gold which it does not possess without that privilege. "Of course it will be said by the ad vocates oi silver tnat li tins course is taken with gold the government ought also to buy silver, giving one dollar in silver certificates for every 371.25 grains of pure silver, but the answer to this is that by so doing the mints would be paying more than the mar ket price. If the contention be true that the shutting of the mints to the free coinage of silver has been the main cause of the depreciation in value of that metal, then the shutting of the mints to the free coinage of gold should have a similar effect upon that metal, too. "After gold has in this way been de monetized as long as silver, it should depreciate correspondingly and the old ratio between the two metals would be restored. "It may also be said by the advo cates of silver that the United States should not undertake the demonetiza tion of gold in this manner single handed, but should only do so as the result of an international agreement. It is believed that the several commer cial nations, even England and Ger many, ciould much more easily be brought to consent to stop the free coinage of gold on private account than they could be induced to agree to opening their mints to the free coinage of silver. In fact the British mints, at the present time, practically purchase gold bullion in the manner advocated. They purchase all of such bullion of fered of a given weight and fineness at a fixed price per ounce, which an swers precisely to the amount of pure gold in the sovereign into which the mints coin it. "Of course the adoption of this plan by international agreement would not alter the real status of gold coins one iota. It would in one sense be an illustration of the old adage of whip ping the devil around the stump. .Nevertheless it would show that the estimate in which gold is held by man kind is not in the least affected by the regulations of the mints of the world. By analogy, too, it brings out most clearly that as government regulations can have no effect upon the valuation of gold, so these same regulations can have no permanent effect in increasing the estimate in which silver is held by mankind. In other words, if govern mental action cannot depreciate the value of a given quantity of gold no more can it appreciate the value of a given quantity of silver. "The only course that a government -can take is to depreciate or appreciate the, money of account by making it worth a less or greater quantity of the precious metal. Thus the British gov ernment might decree that the sover eign should contain 100 grains of gold instead of 123.27 grains. Or congress might declare that the dollar should, contain 15 grains of pure gold only, in stead of 23. 22 grains. But this would be debasing the coinage. It is just as much a debasement of the coinage for congress to decree that 371. 25 grains of pure silver shall be a dollar, without making provision to maintain the sil ver dollar at par with the gold dollar, when for nearly sixty years the dollar of account has been the dollar of 23.23 grains of pure gold." The foregoing propositions of the Journal of Banking are either prompted by ignorance born of a lack of knowledge of the laws of finance, or else they are cunningly devised to de ceive the masses of the people, who are presumed to be wallowing in the slough of ignorant superstition. The latter hypothesis is probably the true one, for it is incredible that the editor of a banking journal should possess such an impel feet knowledge of mone tary science as to honestly believe the theories advanced in the article in question. It is a fundamental truth, which should be easily apprehended, that nothing like the demonetization of gold nan be accomplished, so long as the nations of the earth combine to give that metal a certain fixed value, expressed in material representatives of the "money of account." So long as the statutes of the United States de cree that 25.8 grains of standard gold shall constitute a "dollar," and other nations decree by law that a relative, or proportionate, quantity of gold shall constitute their "unit of value", be it called "pound" or what it may, just so long will gold enjoy a special privilege and an arbitrary and a ficti tious value, no matter whether or not such metal has the privilege of un limited coinage into representative coins. If the Journal of Banking really wishes to see gold and silver placed upon an equality with each other and with all other commodities, let it in dorse and advocate the policy and practice contended for by Sir Archi bald Alison, in bis work entitled "En gland from 1815 to 1845," to wit: that the circulating medium, or money, should consist . of paper bills corre sponding in their numerical, or mone tary, terms and denominations with the "unit of account," which, with its decimals and multiples, constitutes the "money of account" of the nation is suing such money notes, or bills, 6uch paper currency, however, to be re deemable in gold and silver, not at any mint, or arbitrary legal value, but at their market value at the time of such redemption. And, in the case of the purchase of gold by national mints, or government banks, let it be paid for at its market value, in paper repre sentatives of the "money of account." in this manner, and in this manner only, can the theory and practice of "specie basis" and "specie redemp tion" be retained and maintained and yet, at the same time, gold and silver be demonetized and placed upon an equality with each other and with all other commodities' And in this way, and in this way only, may all the problems relating to the questions of "ratio" and "parity" and the so-called "Gresham law" be solved, and gold and silver be used as "primary money" and as a "basis of redemption" all over the world, by all nations jointly and m unison. George C. Ward. THE SUNBONNET VOTE. The Power of the Women's Influence on the Side of Decency and Morality. In one of the big towns in New Zea land the nominating convention chose as candidate after a heated session a man whose morals were not blameless and who in addition had objected to the education of women, on the ground that it spoiled them for housekeeping. The news spread from the nominating convention half through the town. In that hot climate many of the women wear large sunbonnets, something like the poke bonnets which are in vogue in the country towns in our own coun try, mere were a number or women in the grocery store, buying butter and provisions, when the news arrived. There was a brief interchange of re marks, and every one went directly home. The houses there are separated by fences or trellises covered with roses, morning glories and scarlet creepers. In two minutes - after their arrival home each woman had repaired to her fence, called up her neighbor on either side, and had transmitted the tidings with more or less emphatic opinions upon the action of the convention. Persons who passed that afternoon said that wherever they went they saw nothing but couples of sunbonnets in earnest but subdued conversation. Within an hour every woman in the town had been communicated with in sunbonnet fash ion. Before breakfast, it is said, every husband had pledged himself to an in dignant wife. The campaign, a brief one, went through with singularly ap parent apathy. The luckless candidate, who had been fearful that his past would be overhauled, was joyful and confident of election by a handsome majority; but when the votes were counted he was buried by a majority so large as to astound every politician in the colony. The next day the only newspaper which had supported him in the district announced its discom fiture in the simple lines, "He was buried forever by 3,000 sunbonnets." N. Y. Mail and Express. NO RELIEF THERE. No Sensible Man Will Look to the Demo cratic Party for Kelief. The silver democrats of Iowa were out-generaled, out-voted and out-plat-formed at the recent convention in that state. Some of the silver men suddenly awoke to the fact that they were in the wrong crowd and left the conven tion. What is the lesson? It is this: If the silver democrats can't control the state of Iowa, they haven't a shadow of a show for con trolling the next national convention. If Iowa democrats have nominated a gold-bug for governor, the hope of a 'western man of western principles" for president have gone glimmering. Democracy is hopelessly divided against itself; it is a house that cannot stand. No sensible outsider will look to modern democracy for relief. Nevada (Mo.) Director. Seats of Learning. Prof. Bemis, of the Chicago universi ty, feels the claws of plutocratic mo nopoly. The university that is en dowed with Rockefeller's stolen money doesn't want to pay a salary to a man whose teachings expose the essential scoundrelism by which Rockefeller made" 573,000,000 in thirty years. Even the plutocratic press are con strained to feel alarm at the possibility of our higher institutions of learning being so controlled as to exclude all correct economic teaching from the students. Universities endowed with stolen money is not an edifying spec tacle of itself. But when all knowl edge is to be filtered through the servile tools of monopoly, the situation becomes disgusting as well as fraught with the most deadly danger to free institutions. Nonconformist. One of the great issues of the day is shall the greenbacks be retired and bonds issued in their stead? Cleveland and Carlisle, backed by the money power, are for it, recommended it and urged it at last congress. How many years of free coinage would we have to have to repair the waste caused by the destruction of the present greenbacks? Missouri World. PREMATURE DISCLOSURE Through the Indiscretion of an Active Member the Intentloua of the Money Power Are Disclosed. Says the Kansas City Journal of August 20th: "Judge Frank G. Johnson, who was delegate to the national free silver conference held in Washington last week, has returned. To a Journal representative he said: 'The confer ence was harmonious and enthusiastic from start to finish, and was attended by about 100 delegates from all sec tions of the union. Among them were some of the leading men of the demo cratic party. Gov. Stone seemed to take the most prominent part. There were many interesting features about the conference that did not appear in the public press as fully as they de served to have been reported, although a majority of the newspaper . men in Washington are outspoken for free coinage. In this they show that they are in line with the great majority of the people of the country.' " Likely, indeed, Is it that "there were many interesting features about the conference that did not appear in the public press." And it is more than likely that many "interesting fea tures" of the plans of tKe leaders of the free silver movement in the demo cratic party were not intended to "ap pear in the public press." But by the indiscreet utterances of one of these leaders the plans of the money power have been prematurely disclosed, and we may now understand how, by al lowing the democratic party to declare for free silver at 10 to 1 in its national convention in 1S90, all the demands of the Rothschild - Sherman Cleveland Lombard-Wall street money power are to be put in a fair way of being satis fied by the election of a so-called free silver democratic candidate upon a platform written, as were both old party platforms in 1892, by Baron de Rothschild himself. The present intention of the money power is to force the republican party to become the champion of "sound money," or the single gold standard. and let the democratic party pose as tne party or tree silver and thus use the majority which is known to exist for free coinage to elect a president and congress pledged to enact into law the pet measures of the Anglo-Hebrew alliance. The following Associated press dis patch from Washington is self-explan atory: ' "Ex-Senator Butler, of South Caro lina, called on Senators Jones and Har ris, members of the executive commit tee appointed by the recent democratic silver conference, and suggested the following propositions to be advocated by the silver democrats: "First Repeal the tax on state bank circulation. "Second Admit silver to coinage at an equality with gold at a ratio of 18 to 1. "Third Retire all greenbacks and coin certificates. "Fourth Require national banks to surrender their charters, and permit them to take out state charters under national supervision. "Fifth Take the government en tirely out of the banking business. "Sixth Stop the issuance of long time bonds by the government. The revenues should be enough to support the government But if it is necessary to issue bonds they should be of small denomination, in order that our own people can invest their savings in them." These are the cardinal points of the money power's creed. No legal tender money but metallic coins, and the banks to have a monopoly of furnish ing the paper money of the nation. And just as the passage of obnoxious measures is sometimes forced by tack ing such measures on to appropriation bills, so the money power hopes to at tain its ends by tacking these demands to the demand for the free coinage of silver. While it is doubtless true that silver men should "get together," it also most certainly behooves them to know just what they are getting together upon. We must watch as well as pray. George C. Ward. That Hold Reserve. The $100,000,000 the secretary is pau perizing the people to keep in the treasury to redeem 346,000,000 green backs is without law. There is no law requiring this gold reserve. To tax the people and bond posterity to main tain this $1,000,000 in gold is plain rob bery. Why do the people submit to it? Iherc is just as much law to keep a billion idle dollars in the treasury a hundred million. What is this gold reserve for, any way? Secre tary Carlisle says it is to redeem the greenbacks, when, in fact, he redeems every other sort of moDey with it JSo merchant, mechanic, farmer or laborer ever presented a dol lar of greenbacks for redemption. Who does? The English gold gamblers. Then who is the government run for? Plainly for the English money power and not for the people of the United States. Who's country is this anyway? Exchange. Justice Hawthorne, of Kansas City, has decided the Missouri law making it a misdemeanor to carry on the business of "barbering" on Sun day unconstitutional just because the law fails to provide for a trial of of fenders by jury. Where has this old fogy been that he has not learned that trial by jury has gone out of fashion? Why not tackle the barbers in the lat est style of government art by court Injunction? That plan needs neither law or constitution. All that is neces sary is a judge who has been properly fixed. Topeka Advocate. The movement made by the Ex press in favor of government banking has had a marked influence all over the United States and the work we contemplate for the coming winter will give the question an importance second to no other in the country. Every state legislature that meets will be urged to require every banker to give security for deposits and the fight that the bankers will make is going to open the eyes of a long suffering pub licChicago Express. Read my book written in advocacy of government banks. -G. C. W.l "I DON'T WAIT For a Cold to Run into Bron chitis or Pneumonia. Check it at Once WITH AYER'S Cherry Pectoral. "Early in the Winter. I took a ?3 i.i u:..i. .i i i. 1 . O! o! an obstinate, hacking cough, very painful to endure and troubling me day and night, for nine weeks, in spite of numerous remedies. Ayer's Cherry Pec toral being recommended me, I began to take it, and inside of 24 hours, I was relieved of the tickling in my throat. Before I ,rinished the bottle, my cough was nearly gone. I cannot speak too highly of its excellence." Mrs. E. Bosch, Eaton, Ohio. f O: 'i o! of 1 Oj o: o! oj 1 o: oj si Ayer's Cherry Pectoral Received Highest Awards gf AT THE WORLD'S FAIR j 9.P.P.$J9P.P.?.PP,PAP.P.?.PP.P..P.P The banks should go Ouu u DUe business of government rather than that the government should go out of the business of furnishing the money, said Mr. Harvey in his debate with Mr. Horr. And Harvey is right. Furnish ing the money for the people is a most important government function, and delegating that function to individuals or corporations is building up a privi leged class, which Jefferson said is a dangerous class. Progressive Farmer. In the cities where the poverty is the worst, there are the most saloons. Poverty drives men to drink and drink increases pover ty. The saloon run for private profit !s an institution that ought to be abc 'shed. It is one of the many means bi which idleness robs labor; and yet so powerful are the plutocratio influences arrayed on its side that we can hardly hope to banish it while one man is allowed to make a profit off another man's labor. Star and Kansan. According to the reports of Carroll D. Wright, national labor statistician, the employer gets 83.2 per cent, of the, products of labor, and leaves the la borer only 17. 8 per cent. In the king ridden, pauperized countries of Europe, the laborer gets from 25 to 40 per cent. of the products of his labor. Did we hear you say conditions are just, where i man is required to work eight hours for legal thieves in order to get two hours for himself? Eonham (Tex.) Farmers' Review. Gold shipments have again set in in earnest. About 87,000,000 have gone in the past few days, and Washington is again in a flutter. More bonds are being talked of, but we do not believe they will be issued. In our opinion the present movement is for the pur-' pose of driving the country into a de mand for the destruction of the green backs. The money power can never be happy so long as there is a green back left to give the lie to their falla cious, doctrines. Progressive Farmer. Wore Out the Judge. ' San Fbancisco. Aug. 21. Superior Judge Murphy was too ill yesterday to proceed with the trial of Theodore Durrant. A recess was declared until Thursday. It is said that the counsel for the defense are preparing affidavits in support of a new motion for a change of venue on the ground of im practibility of securing an impartial jury in San Francisco. If the motion is granted it is said that they will en deavor to have Santa Rosa selected as the scene of the trial. U Hang Chang Hopeful. Victoria, B. C, Aug. 13. According to steamship advices from China, although ex-Viceroy Li Hung Chang still suffers from the displeasure of the Chinese court, he is not without hope that his efforts to re-establish himself in favor will be successful. By the judicious use of the treasure still at his disposal he may regain a position, the resources of which will enable him to recoup his disburse ments a hundred fold if he lives long enough. The Burlington has been chosen the ofiicial route for Louisville G. A. It. En campment. Special train with Comman ds 0. E. Adams and staff also Woman's Relief Corps will leave Lincoln 2:15 p. in. Sept. 9th, leave Omaha 4:35 p. m., and arrive in Chicago early next morning and at Louisville via Pennsylvania Line at 4 p. in. Sleeping car accomodations without change, double berth $4.50, Omaha to Louisville. Reservations for berths should be made early so that am ple accomodations can be arranged for. For full information and tickets apply at B. &. M. Depot or city office corner 10 and 0 streets. Geo. W. Bonnell. i C.P.&T.A. Bee our Campaign offer on first page. The Wealth Makers irom now till No. Tember let for only 80c. Every voter in Nebraska should read this paper. NTCTTRATyOIA cmred rT Dr. MlleeT PAiM TUB Are You Ready For the Harvest ? There's only one way to get ready bo that you can be tur that you an naty -and we are ready to get you ready with the World-Beating, n BEST IN THE . . . WORLD Became Most Durably Built, Lightest in Draft, Greatest in Capacity, Simplest in Construction. All Competition Staid Away from the McCormlck in the World's Fair Tests YV We might to-day be selling a line of so-called "cheap" machines al a price which would still be high, but prefer to sell the hxg'Msalm McConnlcl at a price which experience will most assuredly prove is low.. Glad to show Mir friends these machines at any time. Come in and see them. r Farmers will please call on -B. BINPORD, Lincoln. LEISVELD & TROMPEN, Hickman, J. P. PItATT, Dennett. s MEYER & SEVEUIN, llallam, "WELLER POLK & CO., Raymond, O. W. PETERSON, Eagle, Any of whom will be only too glad to show you the merits of the machines whether you intend to purchase or not. , The Baltimore Plan, now practically endorsed by President Cleveland, is attracting universal attention because it is based on the evident fact that the currency and banking systems of the country must be re formed. - But is the .Baltimore plan a reform? It gives the associated banks the power to expand the currency and relieve the country. It also gives them the power to contract it at will and create universal distress for their own private gain. It puts the credit of the government behind every bank note. It donates all but half of one per cent of the profit on the note issue to the banks, and it leaves plenty of opportunities for a Napoleon of Finance to wreck a bank and leave the government to pay the notes. It leaves the banks free to demand the highest interest that the several states will allow, and affords no relief to farmers and -business men of moderate capital. Contrast with this The Hill Banking System. In "Money Found," an exceedingly valuable and instructive book published by Charles H. Kerr & Company of Chicago, and for sale at the office of this paper at 25 cents, Hon. Thos. E. Hill proposes that the government open its own bank in every large town or county seat in the United States, pay 3 per cent on long time deposits, receive deposits subject to check without interest, and loan money at the uniform rate of 4 per cent to every one offering security worth double the amount of the loan. This plan is not an expense to the government, but a source of large revenue. It secures the government amply, which the Baltimore plan does not. It relieves the distress of the common people, which the Bal timore plan does not. It protects not only note-holders but depositors, who are un secured now and under the Baltimore plan would be still worse off. ' In a word, the Baltimore plan is in the interest of the bankers, the Hill Banking System is in the interest of the people. Consider them both, and ask your congressman to vote for the ttie you believe in. And send us 25c. immediately for the book. "Money Found' has no equal in its line. Address, TINGLEY & BURKETT, Attorneys-at- Law, 1026 O St., Lincoln, Neb. Collections mads and money remitted lami day as collected. Ash . . Box Elder and Black Locust $1.25 Per 1,000. I00A& $3,50 All the Leading Varieties. 100 Choice Concord Urnpevlnes 2; 1,000 Has. Mulberry, (1.16. Shade and Ornamentals. A complete lrice-Lit free. Address, Jansen Nursery, Jefferson Co. Jansen, Neb, DE LML CREAM SEPARATORS Address, for catalogue and particulars. Or Trie Oc Laval. Siwmtok Co., Emm, lu. 74 Cortlandt Street, New York. Broke the Record No Cultivator ever had such a rmart able run to first season. Sales naarijr 20,000 in 1894 nd this year will be rreatly mere d. The O. H. b. is slapl, thccl Wilkin. Csutor m m4a ant e has latitats. H ms si jighL FiraiilNiMlMlwhiMM, SwHfef kmrosksv. Writ m In tthwtntes diev. Deere & Co 1895. LIQHT-RUNNINQ Mccormick steel BINDERS and MOWERS. "Witfft1.. & a Wealth Makers Pub. Co., Lincoln, Neb. GRAY HAIR01 WHISKERS 2 TAN'S MEXICAN HAIB REHTOBATlTlg It removes all dandruff; stops hair fro SI falling ent and tares all diseases of tne scalp. It la ad Dye, and Is warranted absolutely BarmlestV Honey refunded It It does not do sTsrytalag claimed lor It. Seat to any address cm receipt si price. $1.M per bottle. Fall Information Ire Airents wanted. ALLKN CO., Ill later Oceaa Banding, caleaco, 111. The Land of Big; Red Apples, Is an attractive and Interesting book, handsomely Illustrated with Tlews of Soath Missouri scenery, Including the famous Olden Fruit Farm ol 8.000 acres In Howell county. It pertains to fruit raising In that great fruit belt of America, the southern slope ot the Otarks, and will prove of great value, not only to fruit growers, but to avery farmer and homeseeker looking lor a farm and a home, Mailed tree. Address, J. E. L0CKW00D, Jfansea CitxJCo. Puxs. "On cent a doeo." At all druggists. ,