The Plattsmouth Journal
r7lMHiKl W'KKKLV A'l
HLA nSUUUTli, N'EBkArfK A
i;. A. iiA'l'KS. ITUMSIIKK
- 1 - - - -
K ilitred ul ll.i: tio.ttulllri-ill l'l.ttl"riiiiO.. Mt
rr:tsK;i. a nccunlclass matter.
That legend "In God We Trust,;
which used to made the dollar of the
laddies good, has given away to more
practical, the commercial "trust" in the
hanks.
Now that the election is over it is to
he hoped that the hens will begin to lay.
We want a pumpkin pie for Thanksgiv
ing, and it takes eggs to make pump
kin pies. Yum! Yum!
Jitimjf: Tkavis carried every ward in
Nebraska City, both first and second
Syacuse precincts, and both north and
south Paimyra. Judge Jessen's own
ward went against his friend Root.
Tiik secretary of the U. S. troasury
admits that he cannot distribute the
surplus drawn from everybody's
business so as to satisfy everybody.
Then why go on drawing it from busi
ness? Now is the time to stand by your bank
if you want your bank to stand by you
in plcasanter times. Keep up your bal
ance, deposit your unnecessary currency
ami show yourself a good citizen. The
velocity of bank circulation is almost as
important as its volume, and no sensi
ble man should in these times hobble a
dollar in its movement.
In less than sixty days we will never
know that there has been a financial
flurry.
Unpkk our streuous administration
they called it a financial "flurry. Under
Cleveland they called it "panic." It
spells just the same in Dutch.
Thk Uurton screw is no longer loose
in the Taft machine in Ohio. It has
dropped completely out and Mayor John
son, of Cleveland, has it in his vest
pocket.
Carrying three of the six states in
which governors were elected, and cer
tain to recover another, the democracy
has reason to be satisfied with Tuesday's
work. It gives excellent promise for
the future.
One financier's exclamation, "Hell's
to pay in New York," is given a speedy
answer by the Houston Post: "Make
out a clearing house certificate for the
debt at once. The country has no mon
ey to burn just now."
Tliw democrats of Otoe county elect
ed Finigan district clerk. Young for
ounty clerk, Wilson for county judge,
Pierce surveyor, while the republicans
get the balance. The greatest surprise
was the defeat of Donovan for re-election
to the office of sheriff.
There seems to be quite a lot of
building and improvement going on in
this locality.all of which is proof positive
that our people do not fear any panic,
and as long as we don't fear it we will
have no panic.
Notwithstanding that the banks are
going to the wall throught the country,
the banks in Plattsmouth are solid as a
rock. And the best of it is that the
people have absolute confidence in their
integrity.
The calamity which has overtaken
Kentucky in a breaking out of its re
publicanism is not confluent. It is
merely the varioloid form, which leaves
few marks and makes the temporary
sufTerer immune from future attacks.
ask yourseif in reason why should we
talk of a panic because the enemic gam
blers of the east have fallen out over
the fleece of the lately sheared
"lambs?"
New York bankers seem to be grow
ing more cheerful. Good!
"Help thy neighbor as thyself!"
bpenu your surplus currency with your
home merchants, and you will he doing
this.
home, and we will have no trouble i
getting along until the present financial
conditions in the land pass over. Every
person can help some, and they should
do so in the manner suggested by the
Journal -semi no money away from
Plattsmouth for good that tan be had
at home.
a iues-
Thanksgivi.no only about two weeks
off, and it is said that turkeys are very
scare, and what there is are roosting
very high in the financial tree-tops.
It is good indeed to hear that Wall
street is "more cheerful." Having al
ready regained confidence with the as
sistance of Secretary Cortelyou, it will
soon become cheerful enough, no doubt,
to begin to use its unprecedented roll
of United States government assets to
pay its debts to those who created the
assets.
The Journal is informed that the fore
man of the Hugh Murphy quarry, near
South Bend, refused to permit the em
ployees under him to go to polls Tues
day to vote. Such contemptible human
beings are worse than the slave-drivers
in the days of slavery in the south.
Governor Sheldon is unfavorable to
an extra session of congress, and is in
favor of a third term for Roosevelt. A
blind man can see his reason for the lat
ter. The governor has evidently come
to the conclusion that Teddy is the only
republican that can be elected.
A Philadelphi v pa;.er "founded by
Franklin A. D. 172S" circulates west
ward to some extent with the editorial
conclusion that politics would be purer
"if the people elected just one ofticer,
charging him with full authority :.:;d
ami complete responsibility. " The ar.
wer has been in cablegrams from Berlin
i:g wnat tne uerman
Out of the large mumber of lady
candidates for county superintendent of
schools. Miss Jennie Weeth, candidate
upon the democratic ticket in Sarpy
county, was the only one defeated.
Shame on the democrats of Sarpy coun
ty. President Roosevelt may be still
in possession of his "profound convict
tion" that he is entitled to name the
Mayor of Cleveland from the White
House. In that event Cleveland pro
bably will be willing for him to keep
it for his own personal comfort.
When money raised by unnecessary
taxation cannot be spent in colonial
fortifications or in powder fast enough
to prevent an unnecessary surplus from
being locked up out of the reach of busi
ness it explains what Jingoism means
when he says: "We've got the ships,
we've got the men, we've got the mon
ey, too."
While the Washington officials who
handle the unnecessary surplus are dis
cussing the disinterestedness of their
motives in using it to relieve the distress
of those who did not pay it into the
treasury, unnecessary taxation keeps up
it3 continuous strain in demands for
more money from the business of those
who do pay it.
With Roosevelt president, with splen
did crops and General Prosperity riding
up and down of the rivers, creeks and
hollows in the country, this threatened
panic should cause some -people to put
on their thinking caps and sit up and
take notice of events. Now if Cleve
land was responsible for the panic of
1893, wouldn't it be just as reasonable to
believe that Roosevelt is responsible for
the present panicky financial conditio.i?
"What is sauce for the goose is sauce
for the gander!"
The News desires to congratulate the
! gentlemenly male residents of Cass
county. They refused to vote for Edi-
There is one reason, if for no other,
why the state capital should be removed
from Lincoln. 1 1 would be the means of
"weeding out" a lotof old political rats
that have grown gray pap-sucking in
and around the state house. Some times
they remove houses to get rid of rats,
and if the removal of the seat of gov
ernment will rid the taxpayers of the
two-legged rats that have rendezvoused
around the state house for lo, these
many years, and grown fat at the public
crib, for Lord's sake remove the capital.
i . . .r 7 ,V ,WJii. ! t r Farley.but wisely chose Miss Foster
Liin.v wi tne puruy oi tnis system, as it
has ben represented by the Eulenbergs
-and .Moltkes. who made their "charmed
court circle" around the Kaiser
i" . county superintendent of schools.
i T'.ie News has long had the pleasure of
Foster's acnuaintance and we are
. . rule Ll'-. vuicia ui va umuc uu iiuiaivc
representative ot tins Philadelpnia idea. , -n her at the head of schools of
T ,-, . r, . . . ! Cass couitv. Nebraska City News.
a bit more frequantly he might grasp
the fact that the United States are not
bounded by the Atlantic Ocean and the
Alleghany mountains. No New York
man living in the national capital can
altogether escape the influence of the
Wall street atmosphere, so the Secre
tary of the Treasury, like other federal
officials, seams to think that the eastern
frontier is about all there is to this coun
try worth thinking about. All the rest
of it is expected to go on in paying in
currency for shipment east without get
ting any back in return.
The greatest difficulty in the way of
the federal incorporation of great inter
state corporations, proposed by Gover
nor Cummins, of Iowa, is that it would
be unconstitutional, as he admits, and
that the amendment which would make
it lawful will be long in coming. An
other is that his well-meant scheme
could not be made to work as he has
planned it. Governor Cummins shows
a better appreciation of our dual system
of government than President Roose
velt has done in seeing the necessity for
safe-guardiug the rights of the states to
regulate business or transportation done
wholly within their own limits. His
words on this subject coincide with what
the Journal has repeatedly said. His
desire to preserve the rights of domes
tic regulation for which the people of
the south and of other states are con
tending, could not, however, be
realized under any form of federal incor
poration. Under the existing system
the state of Nebraska possesses, and ex
ercises, the right to name the conditions
upon which a corporation chartered in
any other state shall do business in Ne
braska. An undesirable corporation it
can exclude altogether by refusing it a
license, or by revoking a license once
granted. This important right the state
would lose in the case of a corporation
created by the federal government.
Congress would license the corporation,
and it would thereby be authorized to do
business in every state under the same
conditions. The objection to such a sys
tem is that certain corporations might
be welcome in half a dozen states, and
highly objectionable in the others. There
is no occasion for an amendment to the
federal constitution such as Governor
Cummins desires.
The Fremont Tribune thinks that the
old Populist idea of government ware
houses for crop" upon which to issue
currency doesn't look so bad now.
Well, well. In addition to laying!
themselves open to the charge of
"stealing all the democratic planks,"
are the republicans going back to
The campaign is over and the News
would like to ask a question that it has
asked before but never received an an
swer. Here is the question: Why
should a state official be paid his salary
in advance? Just why a state official
should be permitted to draw his salary
three months in advance and for services
he has not rendered, is something we
could never understand. Here is an op
portunity for republican papers to do
some explaining. Nebraska City News.
But will they? Not much. Suppose a
state officer draws his salary three
months in advance, and dies in two
weeks afterwards who is the loser?
The taxpayers of the state, or his suc
cessor in office? There is no law for such
procedure, and such a custom should
cease. Usually a laborer is satisfied to
get his salary after he earns it. And
j why not state officials?
resurrect
also?
the old Populist platform'
The gain in New Jersey and the hold
ing of Maryland and Rhode Island put
the democratic party in good shape to
make a strong fight in the presidential
election of next year. It refutes the
silly claim of republicans that theirs is
the only party which has a chance to
win in 1908. It destroys the fiction
that the democracy has become a party
local to the south.
The republican party as a whole is
making no demand for Mr. Taft to
hurry back from Asia. Speaker Cannon
is now ready to take charge of Repub
lican interests in this country, and as
the returns of November this year in
dicate that the rext House of Repre
sentatives will not need a republican
dicatator Speaker Cannon can give his
whole attention now to substituting
himself for Mr. Taft as a party dictator
for the department of the exterior.
The most extraordinary case of
"prosperity failure" appears in the New
York divorce suit not yet decided where
the petitioner alleged that when he fail
ed for lack of ready money, his wife had
$2,500 in cash assets accumulated f romhis
jKckets at night as the result of her
saving habit during thirty years. The
case is unfortunately too late for the
Federal census which is to sum up all
possible causes of matrimonial failure
a3 another forward step in the process
of bringing the wisdom of Washington
to bear on everything, possible and impossible.
m , i
l he reason ior tne Dig advance in
paper is tne tormation ot a merger
which proposes to take in all the mills
of the country. Once this is accom
plished the newspapers will be at the
mercy ot corporate greed. In connec
tion with this matter w.e note that many
papers republican as well as demo
cratic are clamoring for the removal
of the tariff from wood pulp as a means
to Keep tne price oi printing paper
within reasonable bounds. A dele
gation of the leading publishers of the
country appeared before President
Roosevelt a few days since to enlist him
in their behalf, and he promised to aid
them in their effort to have such tariff
removed. The move is a good one but
it is too selfish. If the taking off of
the tariff will cheapen paper to the pub
lishers, will not the taking off of the
tariff also cheapen clothing and food
products to the consumers? We are
in the publishing business and want our
raw material as cheaply as we can get
it consistent with the interests of those
who produce It, but that interest should
not De so protected by law that n can
lay its extortionate hand on us and make
us pay tribute far in excess of a legiti
mate profit. And that is exactly what
all of our highly protected interests
are doing. And what is better still,
the people are beginning to see it.
Mergers, whose other name is trusts.
are designed to destroy competition and
their best ally is a protective tariff.
Look at the broad acres of yellow
corn, the golden pumpkins, the fat sleek
cattle on the prairies, the busy biddies
in the barnyard, the $125 mules and the
$250 mares, the tons and tons of finest
hay, and the thousand and one things
we have in Nebraska to coax the dol
lars from the grasping millionaires of
the pampered, pap-fed east, and then
One way in which everyone can aid
in the alleviation of present financial
conditions, locally speaking, is to spend
your surplus cash right here in Platts
mouth. Of course there may be certain
articles that is impossible to get here.
Yet, while this is the fact, there are
many articles you have been in the habit
of going to Omaha to purchase, that can
be bought here. All money possible
should be kept at home for local circu
lation. Other towns are doing this, and
why not Plattsmouth? Buy at home,
pay out what currency you" have at
PRESENT FINAN
CIAL TROUBLES
fin idea of the Situation and
How It Applies Locally
There are many people who do not
understand why financial truobles should
exist at the present time when the west
is teeming with plenty of the products
that should bring plenty of money and
prosperity westward. The explanation
is plain enough when the average reader
can fully understand the mode in which
the banking business of the country is
conducted. In the present state of af
fairs Wallace's Farmer hits the nail on
the head when it says that the practical
suspension of currency payment on the
part of the banks of the principal cities
of the west no doubt came as a rude
shock to most western farmers and busi
ness men. While everybody in the west
knew that New York was having quite
severe financial trouble, it had not been
supposed that it would effect western
interests to any extent. The action of
the New York banks suspending cur
rency payments there, however, brought
trouble to us in the west very quickly.
We will endeavor to give our readers a
working idea of the situation at the
present time.
Banks in small towns and villages do
not for obvious reasons care to carry
any large surplus of cash in their safes.
Whenever, therefore, they accumulate
more cash in their safes than they need
for the ordinary conduct of their busi
ness they send the surplus to a bank in
some convenient nearby city, Omaha,
for example. The Omaha bank pays
them a small interest on this surplus
cash and stands ready to send it back to
the country bank whenever the latter
calls for it, by letter, 'phone, or tele
graph.
Banks in cities like Omaha, in turn,
keep their surplus cash in the larger
banks in the same city, or in Chicago,
or New York, and when they need this
they call upon the banks with which
they have it deposited.
The Chicago banks in the same man
ner send the surplus cash to their cor
respondent banks in New York City
When business is running along in a
normal way the money flows back and
forth between these different banks as
it is needed to meet the business tran
sactions of the country.
The country banker finds that his
cash on hand is running lower than it
should to meet the demands of his cus
tomers so he calls up the Omaha bank
in which he has surplus deposited and
tells it to send out by express five thou
sand or ten thousand or more dollars in
cash. The Omaha bank in turn calls
for some of its surplus cash from the
bank in Chicago with which it is depos
ited, and Chicago calls from New York
This is the best and safest way for the
banks to handle their cash.
For some weeks past there have been
panicy conditions in New York. These
conditions grew worse until the people
become frightened and began to draw
their money out of the banks and store
it away. This caused several small
banks in New York to close their doors,
not because they were not sound finan
cially, but because they did not have
enough cash on hand to stand a run.
The closing of these banks frightened
more people and the situation grew daily
worse until the banks of New York got
together and determined to refuse to
pay out money, but instead to pay de
mands for cash in clearing house certi
ficates, checks and drafts. In every
large city the banks organize what is
known as the clearing house. The
strong banks in the city, -and, in fact,
practically all of the banks,, are mem
bers of this clearing house. It keeps
track of the conditions of each bank
and stands ready to help any bank which
belongs to it and which for any reason
gets into financial difficulty. Next week
we will explain more fully the purpose
of the clearing house. For the present
it is only necessary to say that a clear
ing house certificate has back of it the
combined resources of all. the banks
which belong to the clearing house. It
is like a check drawn by a man who has
money in the bank to pay it absolutely
good, and for all practical purposes just
as good or better than actual cash.
On Saturday the New York bank noti
fied the Chicago banks that they could
not draw their surplus cash which they
carried there, except in drafts, checks,
or clearing house certificates; in other
words, the New York banks told the
Chicago banks that they could not have
the actual money which they had on de
posit there, but they could have the evi
dence of the money in either of three
forms mentioned. The Chicago Clear
ing House Association met to determine
what should be done in the matter.
They found themselves in the position of
being called upon to furnish the money
they had belonging to other banks but
not being able to get their own money
which they had on deposit in the "New
York banks. Under this condition of
'affairs it would only be
lion oi a snort time when the money
in the Chicago banks would be taken j
out, and none coming in to replace it.
The Chicago banks, therefore, deter- J
mined to adopt the policy of the New
York banks and suspend the cash pay- !
ments. This passed on the trouble to j
the banks in cities like Omaha which I
carry a balance in the Chicago banks.
They in turn found themselves in the j
situation of being unable to call in the
money which belongs to them in the
Chicago banks, and unless they took
measure to protect the cash they had in
their own vaults at that time it would
soon be paid out and none coming in to
replace it. Therefore, the Omaha
clearing house adopted the same policy
and notified the people of the state that
no money would be sent out, but that
drafts and checks would be issued as
heretofore. This passes the trouble on
to the country banker; he has cash in
the Omaha banks, but on the adoption
of this resolution by the clearing house
cannot get it; he may have $50,000 in
one of the Omaha banks but if not able
to draw a cent of it. Unless the coun
try bank happens to have in its safe
enough cash to meet the needs of its
customers the customers will find them
selves in the same position as the
banks Ihey will have the money de
posited but they cannot draw it out.
The foregoing is a plain statement of
the actual situation. The question that
will arise in the minds of our readers is,
What am I going to do about it? Our
answer to the question is, You should
do nothing about it. Just go right
ahead and attend to business the same
as usual. Do not go to your banker and
draw out your money. This is the
worst possible thing that could be done.
Don't get excited; it will not help mat
ters a bit. Simply go right along in
the usual way until this flurry blows
overi
It is of the utmost importance that
every farmer in the west keep level
headed and avoid giving way to panic
or inciting panic in others. The agri
cultural people were never in better
shape than now. They owe less and
have more money in the banks. So far
as we know the banks were never in
better shape. The world needs every
thing that is produced on the western
farm, and will have to pay a good price
for it. The soil remains, the climate
remains, the means of transportation
remain, the world's wants in the way of
grain and meats remain, and the farmer
has the wherewithal to supply them.
Untold disaster will certainly result if
farmers and business men who have de
posits in the bank make a garb for them
and hide them away or put them in old
stockings. The thing to do is to tran
sact all your business through checks
until this flurry is over. If you owe
anybody and have money in the bank,
give him your check. If he wants to
pay someone else part of it, let him de
posit it in the bank and pay with his
check. We really do not have need of
any currency for small change.
The place where the currency serves
the country best in the banks.
If this course is pursued there can be
no serious disturbance, only inconveni
ence, which will pass away in due time;
and the more cool-headed farmers and
others are the sooner it will pass away
Bear in mind that 95 per cent and more
of the the business of the country is
done through checks and drafts anyhow.
One hundred per cent of it should be so
done for the next few weeks, and we
hope by that time that everything will
go on just as it has been.
WHEN THE KETTLE SINGS
it's a sicn of coal satisfaction. Want
to hear the music In your kitchen?
Easy order coal from this olllce and
yard. The output of the Trenton
mine the fuel we handle has no su
perior anywhere, Its equal In few
places
J. V. EGENBERGER,
'PHONE
PLATTSMOUTH,
I'lfittsrnniitli No. .
"Hell No. X.I.
- - - NEBRASKA
A Good Liniment
When you need a good reliable lini
ment try Chamberlain's Pain Balm. It
has no superior for pains and swellings.
A piece of flannel slightly dampened
with Pain Balm is superior to a plaster
for lame back or pains in the side or
chest. It also relieves rheumatic pains
and makes sleep and rest (jossibla. For
sale by F. G. Fricke & Co.
Ho! Smokers!
Are you ready
a New Pipe?
for
Herman
has the Large
Complete of
Spies
and Most
ever seen in Plattsmouth, from
the Low Priced to the Very Best
on the Market.
If You Haven't Already Ordered
Havelock Items.
The following items were clipped
from the Havelock department in the
Lincoln News: G: R. Olson, of Platts
mouth, was in Havelock- for a short
time yesterday on business. .. :R. B.
Windham, of Plattsmouth, was in the
city yesterday, looking after some busi
ness interests This week the nine
hour rule went into effect at the shops.
Ten hours has been the schedule for
several months Charles Messersmith
and wife, who were recently married
in inend, are in Havelock, visiting
Mr. and Mrs. Joel Messersmith, the
groom's parents. They will make their
home in Lincoln.
Returns from Dakota.
Mr. and Mrs. Robert Troop, who
have been living in Gregory, S. D.,
during the past summer, on their farm
there, returned home this evening and
will make their home at their place
south of the city, which thev have had
rented to Joseph Peters, Mr. Peters
having built a place in the city, and will
occupy it soon, moving there the first
of next week. Mr. Troop thinks that
the country where he has been living
one of the finest farming districts to be
found. Grains of all kinds grow in
abundance, though the seasons are a
little short for the full maturing of the
larger varieties of corn. They grow a
kind which yields a good crop and ma
tures in time to get cut of the way of
frost.
t 1 1
TIMES
Thai PHONOGRAPH
now is the time to come in and make
the selection before the holiday rush be
gins. We are showing all the popular
sizes and styles of these instruments
the best home entertainment that any
family could possess. We have a com
plete stock of the latest records. Let
us play your favorite for you when you
T . . . . .
1, which w
cal
we hope will be soon.
Nebraska Phonograph Company
JESSE PERRY, Proprietor.
A Reliable Remedy for Croup.
Mrs. S. Rosinthal. of Turner, Michi
gan, says: "We have used Chamber
lain's Cough Medicine for ourselves and
children for several years and like it
very much I think it is the only rem
edy for croup and can highly recom
mend it." For sale by F.G. Frice&Co.
Opportunities
That Will
Not Last
OR.SALEi-Th following prop
rty; ptvyrrtcnta $2Q to $25; bill.
Bine $10 pr months
A six-room cottage in tine
repair win, oik- lot and a
half .. . 5800
A tieioni collate wiih
city waiei, in ifiNMi n-air
with brick biri, ana other'
improvements $875
A tiood four-room touae
with f ai. ioi $700
A line five riioin tiae
with oiip ixcciij va.ler. .$725
T(ix(.i tjvu-room i-oirat--.s
wif '. lui aiiff haneeacfi
i"ar t ,vh..o, $800
On- Mllrf lonni hOIJSf with
ie acre of gmurd and
itnprov. m-iiis $90Q
One six-no n coitaKe. one
acr of gnmnd $600
One fj vp-room cottage with
four lots $650
Five, six, fen and twenty acre
Improved tracts for sale: onp
fourth down, remainder In -nm
to suit purchaser Prices furn
ished at f.fHce.
WINDHAM
INVESTMENT
COMPANY
(
i
(
