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About Hemingford herald. (Hemingford, Box Butte County, Neb.) 1895-190? | View Entire Issue (May 22, 1896)
H 1: l I? ; ii : 11. t ft ... new uui.i k-ii i Jftillucy nf 0 . :it Dollnri. itanff iwiwd for r-jr Mt" mMy r- lvd tti uvcry nil r lire uu d H vntu u e-til to Uio osleut that It Hin bo erhnntrid tar ih Ather coraanditlfea, and It I aretly neeemwry to ruritrBt thtt a dolltir worth CD f-nntti tidl ; not purtliaeo ad mnoh In Urn frintjt t .. i s o. doj , lar worth 100 cent T foil dfl)-" " dollar , vrrmlil add riotlihaft vrbl tttvr Io 11 intrimdo t .value or jmrahaaRtK.wtr: It would Mill buy ' wily a Clroe'n worth M Bidfl. If Okso propusd- ' ' tlons nro correct, it'Jbt dlcor that when vrcseti are paid In a depreciated currency tho jatcH of ' wage must lie Ihcfrnard In proportion to tbo Appreciation of tie money nnd l:i proportion , to tho increno Jp 'tho prices of other things, or , tho laborer will Buffer a lost. Rut I ufBrin that It Is tho mil vernal rule that tho rates of wnjtfs tlo net lnereaBe" In proportion to Mm deprccia- (Ion In tho mine of tho money In which they are paid, nnd that when tbneurrenry Udepre- elated the. raten of wopes do not increase In proportion to tho lnTe aso In tho prices of tho 'foramodltlrk tho laborer Is compelled, to pnr- ,' chase. It thero Iim been a single exception to . tbln rein In thl or in uny other country, my investigations lmvo not enabled mo to find It, nnd I do not bcliem ouo con bo found. ' Onr Wu Experience With Depreciated Currency. ' It la jiot rny purposo'to vrrnry you t7 tho prctentnlioit of vuluniinutta statistic, of by n tedloua rprltat of faetn, but tho particular , proposition now under conMdorntlon I of such , prent Importance In thedUcUMlon of thin nub- , Jict that you must permit mo to ciill your cs- jicclal nttonllon to too experience of tho labor- Iob people, ill our own country during thcycara ' tairacdmtcly following tho introduction of a do- , predated paper onrre-ney in 1USJ nnd also to tho very low rnti of wages which now prevail ,',ln countries buvlris tho silver utan'dard of vul- uo or tbo tso called double standard of valuo with colnngn of silver at a local ratio not cor "' rcspondinK with tho commercial Value of tho inotal nnd, In doing this, I will mako no Htato- " incut that cannot bo fully tuuttalncd by reliable evidence. - On tho Bel of March, 16C3, n Babcomralttoo of tho committee on financo In tho United Mates cnato mudo a report en thu ooureo of prices , nnd vragea In thla country tor a period of Bi ; yearn, embracing tho price of almost every artico oi (Miifpimptlon in comtnon uao among the people and tbo rates of wagci! In almost overy Induttr' carried on during tbut tlinu nnd, in order Ibat you may learn from this of- , flcial nnd,iinpartlal Investigation wbi.t cJTfct a depreciated currency has on -vugca nndptlccs, ' I trtll briefly stato homo of tho most rflflterlhj facts end oineluslons embodied in tliafc docu 'tnielit. Tho iiuVcommltti'o conflated )J ,ivo uen' '.'at or reprosontiiig both political partlea nnd both sides of tho currency question, and tho ' Investigation, which liuted nearly two year, wan most thoroughly and impartially made, ; with no purposio In view except to ascertain and roport tbo actual facta, und, bo far as It ' relates to questions of fact, thu report was - unanimous. As stated heretofore, congress, early in the year of l&O.', inaugurated tbo iol-.-Jc tt issuing legal tender jiapor, gold was driven '.t of circulation, specie payments ' wuro suspended, tho currency began at onco . to deprcciato and befnro tho clono of tho yenr ' ,,tho paper dollar was worth less than 70 cents in gold. From tho tlmo the depreciation began 'tho prico of commodities nnd thu wages of la ' bor wcro pnld In paper currency, nnd tho In- luripvu effect U)joii tho lnterLStn of thu labor . ing' iutin t clearly CjjKM lu tho report ro- fuxtfa io. & Worklnmnen tbtl tCforern. In 1EC3 tho wnges eet Htcr, paid in depreci ated paper, were lexjU uu u ptr cent higher In paper than when paKi in gold, but thu priced tt tit 1K?11 nrtlpln lifl,ul 1V (h.i liVnfnru ami ' other peonlo lu tho mUuttntuco of their fad- n 11W were nearly IS t cent Melius than tlu.v . wore wW-a pnjrt in, geldj n(ybo wages of . labor paid In Uepruclatc.it pajwr worth about .CO cents ou tho dollar were lu.t$ per cent higher yUuin when paid in geld, but thu prices of thu I articles thu laborer had to buy with his wages TTfero nearly 43 ptr cent higher; In 1604 tho wages of labor pr.U In depreciated paper dol lars worth 49 iaa s each bad udviuiccd 13,4 Pr ',, cvnt, but the tzioca of tho nicessaries of life had advanced IVH pur cent; lu 1UJJ wageti paid In paper currency wurth CJcuntu ou thu dollar bad advuncu 43 per cent above the rates pro- viously paid In gold, or its equivalent, but the '.'. W.f.i.w ..1 l 1.1 . , I.Jikl '. k irtpcty comuioultlej nad aavuneeU nearly 117 icr cent that is tcy hay, hud moro than dou- bled, una tn 1G0 wagC4 paid In a. currency -rworlb 71 cants on tho dollar hnd advanced a ', fraction, nore than Hi per cent from the prevl jpui rat-bb in guld or its equivalent, but tho Tprlces of commodities had advanced 14 per ; cuit. Thu risu lu (bo ratosof wages never cor Vyeponded with tbo rUo In thu prices of other things until tho year 18iX), four years after tho .joiow or we war, wneu wo vaiuu or our cur- "xmoj was 71 cents on thu dollar, and it wns qvfjtu 'certain that no further depreciation .'would occur. In 1IV"0 this country was on a $gold basis aud und been ou that basis for many ,yeara under the operation of tho nets of 18HI nud 18U7. Wages weru then paid in gold or its equivalent and by reducing tho wages paid in - depreciated currency to a guld batis and teresta of tho laborer, ' On this basis tho laborer received 70 cents mini 3 mills in 1603. iuteinl of thu gold dollar ybe received In lbGd; in lb04 bo received b0 cents und (J mllU ineteadof u gold dollar, and In lbC5 ,hu received CO c.nU und ii- mills Instead of a ftold dollar. -f 3 In other words, tbo wugeH of labor, mens 'VnrrU by gold us they were In l&ti), when wo hud a Kiuud currency, had lullcu uuout H porceut lu SMS, moro thou 10 per cmt in UM, and yi-rly 41 per cent in lt&, when wo bad a ' ileprbclatod currency, and, gentlemen, the forcu of this Sllubtr&Uun is greatly uugmeutod .by tho facts that thou reductions in thu rates of wages occurred at a timu when several hun dred thousand laborers hud been withdrawn tr-n the Held of competition, when thu gov ' emmw ws engaged in thu prosecution of a 'croat war and Was eXDcndinc money lavishly jfor all kinds of supplies for thu army and 'nitrv ,.,iv'i,UiiH.Tiri.uanf ,,ii ti... . , ,i i of labor Ixd lurgely increased. I"? ,1.owcr !" .1Uoi ul.a.r,kB,s would be; dhuiuisiieel , " r,,7ii !,.,-"iiwl. i.,.v.. ! about omrhalf, but tho wuces of Jat'or would Curely if thero ever can be a tlmo when an I rcma.u, lor i'oBB time ct least, substantially abundance of cheap money will inoreaso the at tho pre-sent rates, or, If they should bo noni " vsuges and Improve thu condition ot laboring Inully increased un account ot the uepreclntion wen ineso results ougui lo nave ncen accom- plished under the combination of fuvorable ireumBtantL ex'stinc ouiceiullv In thn prnat 'ZZSMXXfflil&'SJ'ZS. there baa been no other period lu our history ' when tba rates ot wages fell so rupldly or so ' low. I Chllo's Sad Experleuc. Tho recent experience of tho republlo of Chile f uraiaheJ another lmpnsslve warning to the wage earner aguinst tho evils of a depro- iclated currency. That country had for a long 'time the so called double standard of value, with coinage ot legal tender gold und silver at 'the ruta ut 16.CD tu 1, but as this wc u consid- crabiu undervaluation of u)lve-r the corns of that uto) went ont ot circulation aud gold .eon&tltuted the medium ot exchituge und uctc- al standard of value until about the beginning t-6f the year 1670, but ns soon as the commercial ''Valuo ot silver tell below the ratio of 10.U) to 1 'as compared with gold ull tho gold wtnt out rpt circulation and thu country hud silver mon- vsnetnUuun. lu 1ET6, before this change took "jilace, the peso, or dollar of Chile, wus worth 'about 83H cents in our money, but in 1SS5, ten .years after, gold went out and silver came in, the peso wus worth less than Hi cents in our money. Silver continued to depreciate and, "besides, large amounts of paper currency were jitsued by the government and the bunks, and -in 1HQ6, 3J years utter the change from thu gold Dula to the silver basis, thu peso was worth rily about tUfo ovuti In our money. Let us see now what effect this cheap money, ,or, In other words, thU system of silver mono 'nietoUbon which you are asked to adopt here, bad upon the wages of labor in that cemhtry. 'Our minister at Santiago has very recently made an official investigation and report upon this subject, which bis not yet been published, 'from which it appears tbf t in thu northern tart of Chile, wbore labor b,is always been in fcroater demand than elsowhcro on account of the great nitrate fields located in that scctioi tt the country, very little change took place even In the nominal rates of wagts notwlth jtfsdise the grat fall in the value cf the cur- "laiiimniwiiiuiniiiiiiii tuimiiii in n i i iji i r' n 1 ' " ' ' "m rency-tlwt &. i tarftfrf Conllnned to Wi-t? in depreelatoci rnonoy uyut no same njuuuui they received befdro in good raoney. 5a1 when tho peso was worth 8SH ccnta, a me chanic, n bollor maker, i blacksmith, a car penter, 'a Amman nnd on ordinary Inborcr re ceived together for n day'n work 19t$ pesos, or 110.03 In onr money; lu 183 tho name persons received for tho nnnio work 2071 peSi "lit ow ing to tho depreciation of tho currency this was etunl to only I lO.W In our money, nnd in liOo, 'ii years after tho country had descended, to silver bails, the samo laborer it-celved for tho same workS5.CS iietsos, but thft vulno of tbo peso was less than &3 ceuts, and consequently their wages amounted toonly M.04 in our mon ey, or Just about one-half of what they bad ro cotvod S3 yearn before. In tho cnntrnl part at tho country tho result was substantially tho Bame, though not qnito so Injurious to tho la borer. In 1875 n day's wages for flvo men ft mason, u enrpenter, a gayfittcr, a painter and nn ordinary laborer amounted altogether to t(.J ill our mofey, but In 1865 thn wngea of thu sumo mon Wuro fS.C3, nnd in UD5 tt.W. In tbo southern ' part of the republlo thero was somo Increase In thu nominal amount of wagcx paid between 1370 and 1BS9 on acconnt of tho fact that n lino of rullwny was then being con structed through thnt region by foreign capi tal, but olnco tho latter dato the general over ngo rate of wages hni remained substantially tho some, although puld in u uonstautly depro elating currency. ; Our minister to Chile, after n very ctreful examination of tho entire uituation la that country, says: ) "It may bo taken for granted that lu Chile, as in all other countries which havu hnd n like financial experience, tho consequences of cheap money novo Weighed moHt heavily upon tho classes that nro least ablo to support the bur den." Thojvils of silver monoraotalllfim and a de preciated currency finally becamo Intolerable. in that country, nnd, Although it produce considerable silver nnd very llltlo gold, It liaa recently adopted the gold stondurd of valao. Japan's Uxpcrlettce. , Tn r.rnrlv nvirv nAtmtrv In thn wnpld linvlnff the gold standard of valuo tho wngea of labor ( have increased materlnlly during tho last S3 years, and at thu scmo tlmo tho purchasing power of tho money In which wages tiro paid has increased also; while in tho countrica-liuv-lug tho silver standard of valuo wages lmvo been actually reduced by tbo depreciation of tho currency to Bucb an extent that tho labor er Is in a much woreo condition than bo wau at thu Jjcginning of that period. Japan, bv far tlio'tnost progressive nnd prosperous coun try In tho cust, coins both gold nnd silver at tho 'ratio of 10.113 to 1, n ratio which greatly overvalues silver, and, ai tho government doc not maintain the parity of the two mutuls, tho currency is on a depreciated silver basis. images nro paid In silver, of course, because tho laboring men nnd women always get tho cheapest money in circulation, nnd they gen erally pay tho highest prlccH for tbo nrticlcs they buy. for the ronpcn that their purhuso nro usually intulo lu nmull quantities nt utlmo. Tbo Jnpanesu silver yen la worth a llttlo 1cm than f0 ccnta In our money, and when thu wages of labor, paid in tbli depreciated coin, aro reduced to our standard of value, they ap pear so lnblgnlfieunt that it is dlfllcult to un derstand bow tho people who rocclvo tho mis crnblo plttnncu can live and maintain their famine's. The nvoragu dally earnings of a bricklayer amount to S3 cents; blacksmiths, carpenters olid cabinet makers receive U) i cents; compositors In printing ofdcei, 23cents; , pressmen, M cents: roofers, 0 cents ;stiuncul tew, E0 cents; ordinary tnlloro, S3 cents; weav ers, 15 cents. And In nil thu long list of occu pations nnd wages no laborer, however skill ed, can bo found who receives moro than 49 centB per day, except porcelain artists In tho great city of Yokohama, who gut 72 cents. Fac tory laborers even lnjhat city, where most of tho treat Industries Sr carried em by Ameri can or European cnpfjpllstu, receive 21 cent Spcy day, und in othor parts of t!i country I '? weelvo less. Slexlca's Experience, Onr neighboring republlo of Mexico, with n constitutional government very similar to our own, with nu nren of 7fr,lXX) Miuaro miles and a population of only about U'.COO.CCO, with al most marvelous natural resources awaiting development nnd offering a most Inviting Hold for thu Investment of capital und thu employ ment of labor, bus tho sllvur standard (it value, gold not being lu use. And if cho.it money U a blessing to tho laboring man, hn ought to bu prosperous and happy in that country. TboUoxican dollar contains 377.17 grains of puru silver, or nearly 0 gralna morn than is contained In our dollar, nnd yet, not beiug sustained by a monetary system which keeps It nt n parity with gold, it is worth only about K) cents in our money. Wages aro paid in silver and aro vury low In cociparlucn with tho wugus paid lu this country for thn tame fcorvtccs, In iriuiy instances not being half ad much, whllo the prices of commodities gen , urally aro much higher than they uro hum Tho prices or imported articles especially nro exorbitantly high in Mexico, because they bavo to lie paid tor abroad lu gold, und tho de preciation of their money is so great that it requires nearly t- in ullver to pay $1 in gold. Although our own silver dollar contains less fine silver than , tho Mexican dollar, one of oura is nearly equal in exchangeable value to two of theirs, becauso here the coinago is Urn- olns on faith nnd a plodgu that has been faithfully kept up to this time notwHiiitaiRinig inu compiaicw nnn aeuuncia- tlons of our tree coinago opponents', Under our policy tho dollar paid to the laboring uiou , for bl) wages Is Just as good and will purchasu Just cfl much in thu markets as tho dollar paid to tho bondholders or to uny other class qf creditors, but if wo aro to have f rco und un limited colnuge of legal terjder sllvur for the benent oi mo owners oi inu nuuion inu gov 7 ;,,n,..n; ,T v,n ,;:,ni .?iZmZ ernnieptnndtbo people at lat go would hayo be gnissly uujUHt to require tho government to keen them equal in exchangeable valuo to poia. Tito eiouars, as rapiuiy us ooiueu. wouui be delivered tu tho owners of the bullion free of charge, nnd the government would lmvo no legal or moral right to tax ull thu jicoplu ot the country in order to procure gold with 'which tu redeem these uiiv.itu coins. u;u value ot our aollur wouiu, tlitrctore, bo no greater than tho intrinsic or commercial valuo of the silver contuine-d in it. mid Its iiurcbns- , or mo currency, txpurieuee in ir.o pasi snows I thut tboy would not Increase In proportion te ,bo increase in tho prices of commodities. Wses in thu rutep of wages take place verj mm muy wuuui nui. uicruasu in prupureiun eej ucicasi lu the v. whll cs ot wasus talio uluco very blowlv while the prices of coniuiexdties move rapidly, at somo periods changing several times tn the course oi a slnclo elny, t -- - "-- .-- i And theso move-ments are ulwu, nyi tb s mure rreouent anu moro harmful when settled condition. o currency is in an un- Attltud of Manufacturers. Tou have doutjtlttj observed recently what appears to bu quite a formidable demonstra tion in favor of tbo fruu coiuugu ot silver by curtain large manufacturing interests in the eastern part of the country , upon the ground that if wu continue to maintain our present standard ot value the silver standard coun tries, especially India, China and Japan, will soon be able to undersell them in thu markets of tho world, lieuueed to its simplest form, the proposition of theso gentlemen is that the fuanufacturcrs of certain klnus of icouds in his country cannot continue to pay their la borers high wages In guld or its equivalent and compete successfully tn the markets abrctad with tho manufacturers of similar goods in silver standard countries, who pay tbefr laborers low wugosin depreciated silver, and therefore they insist that a monetury sys tem tbull be adopWd here which will give them the advantage of paying tor their labor in depreciated silver. The thuory is that, with free coinago of legal tender silver, tbo wages of labor in Ibis country would bu puid in sil ver dollars woith about half ut much 04 gold dollars, but the products of labor, which would belong to the e uiplnycr, would be sold for gold in the markets abroad, and tbut thu KulUtlnu obtained could be exchanged for eil ,er at ubout the rute of 1 in gold tor ti in sil vcr, and thus thu process) would go on, the employer getting gold of full value and thui laborer getting depreciated siller, which, in tho opinion ot the-se gumlvmt-u, would be a most happy solnttun of this question. It tho lutcnistM of labor urn to bu left entire ly out ot consideration, und if it weru not rea sonably certain that a sudden revolution in our monetury system would nt once arrest the progress of all our Industries and produce al most uuivers.il bankruptcy, this scheme to make tho up!oyr ve ry itch and the laborer , verj peer wight be worthy of ttrioiw consul- i1 ' n him TTi Mti'iwiin-i ' Z.MK&mmwfEi,.,,il.?e&&&ii&fciK&. iratton. IrSl' Hfo" A inorlctff laliorer hat- 9 WlJrtt - 91 7" j ui """"m"" ur "" i nim niim-j I'S Tl (. t 1 in t'i .,it 11- O , ' . ' nV rt tM ctao . nl ' 'in. in. It is bnt st i plo Ji s " t'j e y In thtv.'flTf netlun tHit the cnu. i i( i " plo era. n rust majority of tb" nwhohv. imfaiicml their capital in Inlr-iriMl enterprieB anil are reiving for stteoissi: n their rklll mid cuwiry lu tliu prosecution of their btislneos, (to nut tvant tbo present standard of vuluo over thrown, becanne they itrn w that Uie efttnbllsb ment of silver i- oiitcttallliru v.ould lie Hiln Otis to them and to nil who nr dependant nnnn them for cmploiynient or for tbo Bupply of commodltim at rcasonublt prices. Investments of Labor; If tbo solution of this question nXTeeted only tho character nnd ntneunt and -prdin-"n power of tho future eurnlngs of tho American laborer, it would still be n bubject of tho grav est importance to him, but its Importance Is greatly Increased by tho fact that tho safety and valuo of n very considerable part of his past earnings nro ulsu involved. The thrifty snd provident worklngtnan, anticipating n time whun he may lie disabled or deprived of employment, bos endeavored to Bavo ftime thing out of his cnming4 in order to provide for the comfort of his wife ond children in thn future and has laid it nwny at borne, or de posited it in n bank or Ulilulng association, or invttited it In u lifu insurance olicy, or Inaued It to some friend in whom ho hie confidence. Uo Is not n debtor, but h creditor, nnd the corporations and Individuals baring tho cus tody of his earnings nro indebted to him and ought to pay what tboy owo him In just 'as good money as he put into their hands. Baying CanUs and Itullding and Loan s I soclntloim. I According to tho latest reports, tho savings , hanks In your own htato hold $24,U57,4vX) on j deposit for 8i5,a02 iM'Oplo, or an average of t!Zl ior encii ucitusiiur. uiiu Liu iuu vnuiu ruumry theV hold tl.bHUJi7.UW for 4,b73.51u people, or nu average of frtl for ench depositor. Htato tianks, trust compuldes nnd private bunks bold $1,U40.(h,(M) for nlxiut 1.5n0,lOl pvopli-.jiud na tional Uanks hold ll,701,nS8,Ut for.LKS.SlU do poHltorx, of whom 1,74,UUU bavo less than $1,000 to thulr crciltt. Hcsldi h thebo insttt utiono theru are 0.CU) building and loan usuaciatloni lu the united mates, naving ncout i.tuu.wo miaro- holders, male and femnlo, who have paid duel UCO.uOO. Ihcronro nenrly 700 of thesu associa 11 lU4 JIIVIIIJ UlUUUUIIUh li'UlU !! "TUWW tions In thu state of Illinois alone, nnd in theso Institution-- many laborers, men, women nnd even children, have deposited every dollar they could tiparo, often denying thoinnolvts same of tho comforts of lll'o lu order to lay up doinethlng for n timu of liue-d. Ilfu Insuvonce. More than 2,000,0X0 of our peoplo bavo taken out llfo lnsuruncii pollcliH, whieh nro now in force, amouut.ng to $l,',XBltC7,USI, and bavo paid tho premiums on tiiem year after year In good money, whllo tho mutual henclit aud as sessment mid co-opirativci and fraternal com fianles nnd -associations havu B,riO0.0UU mem icrs, who have contributed a largu part of their earnings to tho funds lwSlil to reimburse losses sustuinrd by sickness- or death. Thu obligations of tlioso compauicHnnd ntsoclatlous to thulr members amount to5,18,Gru.tUt, and tbo lnduhtrlal conipanlcH in (ho United States lmvo u mcmburshlpof 0,1)11', wj, with-insuranco amounting to fbl0,Cil).0V8 in uddltiun to all thu foregoing, nnd it is constantly tpcreuslng. How many jnuoriug men mm women novo lauen out pyllcieH or otherwise contributed from their .earnings to liiburo themselves ugnliMt loss by accident whllo engaged in tho pruscu tlon of their 'work cannot bo uecurately ascer tained, but tho number is known to bo very ltn-Ro. Tho banks, trust eomp.inios, building asso clutloiiH aud other similar Institution!) owo the people of the United btatcs today $3,UJ. IWJ.ul'l lor money uetuully depositeil, a sum nenrly eight times greater than tliu total capi tal o( nil lhc national bnuks in tho country, whllo tho llfo iuburancu policies held by thu peoplo in thu various kinds of corporations und associations und in furco today amount tu 81U,2lU,b04,u57, n larger Bum than bns buun ue tuully Invested in nil our railroads und about IS time's larger than thu capital of all thu na tional banks. Ifreo Coinage Would Bo an Irreparable WronR. In view of thrso facts, which cannot bo suc cessfully disputed. I submit that you ought wrioubly to consider all tho consequences to yourselves nnd your fellow citizens buforo you ugreu to tbu ireu und unlimited coinage of legal tender silver at a ratio of lfljo 1 in or der that thesu great corporations nnd associa tions nmy liuve tho privilege of discharging their debts to thu peoplo by paying CI or hi cents on the dollar, for thnt la exactly whut it mcuns. It is u luw estimate tu nay mat each one of tho depositors in savings and other banksi and In buildina associations, and each boldor ui a llfo inrurunco pulley and member of n mutual benefit and assessment lnwoeiH- ) tlon, has dependent upon him or her un uvor uge of at least two btlier persons; tuid if ho, it majority of all our peoplu are directly or indi rectly creditors af thiso exjrnorationa and ua Kielutions nnd are interested in thu preserva tion of a standard or value which will iniuro thu paymout of Weir claims in us good money at thuy parted with when they mudo their loans or deposits or paid their assessments or premiums. Every dollar tho peoplu put into thesu banks and trust companies und either In stitutions nnd every dollar they paid for in suruncu wus worth 100 cents und would pro cure luo ceuls' worth cf commodities in tho market When tboy eurned it und when they iuvestud'ft, and Wcy bavo nn unquestionable right to demand that it bhall bo refunded to them lu dollars worth 100 cunts everywhere. Thu adoption of nny jiolley that would dbprivo them ot this right would not only inllict nn enormous loss upon them, but would so se riously impair their faith in tho lidellty aud utility of such institutions that attempts to uccumulnte und savu aurplus earnings would bo abandoned, or nt least greatly cll&couruged, for a lung time to como. But if freu und unlimited coinage of logal tender silver ut tbo ratio of lit tu 1 is establish ed in this countiy u very lurgo part of the money dupomteil in theso various kinds of buvings institutions WJU not even bo re-jwitd in depreciated silver, but will be wholly lost, bo cauto such u reckleie monetary flystv-m would precipitate a flnanclal pnnlo which, verj.fow. it any, of thu depositories could mirviyo. I doubt thnt tjiero is a single financial inntitu tion in thu country that could sustain tho prcusuru tu.1t would bu immediacy inado upon it by its depositors nnd other creditors when it became uppareut that our standard of vaiuu was u no lowureu unci our currency no- ' .predated by free coinage. Payment or nil our , tibligailons liuld abroad would bo demanded in cold at oncu ; every investment ot forulen cnnltal in this country would bo Instantly withdrawn; overy man who owed u debt ut homo or abroad would be called upon to pay It; all depositors in bunks und other Institu tions would want to withdraw thulr money ut tin, itimn ttlnn? mi Inulitf notllit m mi-ntiiitml I mid no credit would bu given, because no man wouiu lunu money or mii property ou time when he know with absolute) certainty that he would bu puld in ii depreciated currency. Creditors would not wait tor the actual pas sage of a free coiunge law, but ui soon as such a measure Lad received tl.o approval of thu peoplo at bu election they Would demand their money, and if not paid the ley wemld enforce ita cuiiccuun vy juuieiai furcod sale of property. proe-eodinc and tho It is iftless for you anu me or unyuoeiy lv else to say that depositors in banks und other crudltors ought not to pur sue this course when a crisis comes or is ap prehended, for they always have pursued it, and always will uulu&a human natnru itself should bu cbaugedi Less than threu years ago you saw our finan cial, commercial and industrial affulrs vio lently disturbed by tbo fear that the govern ment would not bo able to maintain geld pay ments and that our currency would descend to u silver tiasls. ou saw thu operations ot In dustry Interrupted, banks falling, great com mercial houars unable tu meet tbelr obliga tions, credit seriously impaired, mills und fac tories closed and thousands of laborers thrown i out of employment anu a statu or panto anu business disorder prevailing ip every part of the country. If a muru duubt as to thu kind of money wu intended to usu produced these aUtressing results, what, think you, would be the probable consoqucucus of a deliberate do termination upon the part of our peoplo to adopt silver monometallism as a permanent system? The imagination can scarcely con ceive thu deplorable state ut society that Would immuuiutely follow the announcement of such a policy, and 1 will not uttciupt to de scribe! it. It cannot be possible that in the closing year of the nineteenth century and in this great und freu republiu the people themselves will imitate tho bad example set by tbu cor rupt potentates ot Euroie, who have made their names forever odious in history by de busing the money ot their subject und rob bing the industrious poor ot the Juat rewards ot their labor. Tho gruaUsat crimo short of absolute political enslavement that could bo committed against thu workinginun in thu country would be to uontlscatu his labor for the benefit of the employer by destroying the valuo ot tbo muney In which his wages am paid; but, gentlemen, this lrrenarab'? wrong can uiver be psrpeitrutod under our system of government unless the laboring man himself assists in forgulg bis own chains. And now, gentlemen, havidg submitted, as briefly und as plainly as thu nature of the sub ject would permit, faonio of tbu reasons why X think your intercuts demand the maintenance of a sound and stablu currency, I thank you most sincerely for your ktnd. und pntieint'al- tuition and will detain jvu no longer. 'J I ' ." f- Aua&taAiwMiKjatji ' '$ ' vtr'&&ttSS5 ' Closing M For, the Next THIRTY f my entire stock oi CLOTHINGi at the Lowest Possible Prices Begarclless of cost. W. K. HERN CALL, FrodS tratton, of Chfcao, is visiting with his folks at this place. B. A. McCarthy has concluded to stay on Prank Martin's farm another year. , ' Mcsdames Switzer and O. A. Miller of Hemingford wore Borea ctllors last Monday. Erland Peterson and Martin Logan have secured work on the construction train at Marsland, while crops aro growing. Crops aro now nearly all jn around here and look remarkably well for the season and if noth ing happens after this Box Butte will have a crop second to none west of the Missouri river. When a man gots a reputation for dodging, such as Senator Alli son, o Iowa litis had for many years, he cannot come out fla'foot- ed upon any lsiportant Question with out creating a' sensation and stirring up'a nest" of interrogation points. That ia just what Senator Allison's squaro statement in favor of tiio gold standard and against tho free coinago of silvt r has done. Mr. Allison has been a sort of Presidential candidate for twenty years and has made it a point to try and stand well with overyhody in his party. Uis entirely unox nucted declaration is taken to mean that he, like John Sherman, has come to the conclusion that he will never get tho Presidential nomination f his party and that it is useless to longer keep up the troublesome habit of dodging. Montgomery Ward & Co. are flooding tho country with imam circulars and pamphlets in an en deaVbr to draw trado from the country merchants, and they mace no effort to conceal tha fact, per sons who would patronize that firm should remember that they are after the almighty dollar and when thoy get it thoy most likely use it for their own benefit. You got no benolit from the money you spend with them outside of tho few cents you may possibly save by the direet deal. They have no in terest in your town or country welfare and don't caro a particle whether your property is enhanc ed in value or not; while tho homo merchant' is continually on tho lookout for his costomers welfare, for that is to a grert extent his own. Think well before placing orders with a foreign firm. Pat ronize homo institutions. Mer chants should see that such com petition is met as early as possible. Rushville Democrat. ALL GOOD REPUBLICANS should make a point of attending the National Convention, to bo held at St. Louis, Tuesday, June lGth. Tho expense is not great if you take tho Burlington. Ou tho 13th., 14th. and 15th of June, you can purchase a round Liin ticket to" St. Louis at THE ONE WAY KATE. Thinhv-isn't it worth a few dollars a few days time to see the next President nominated? Full information on application to any agent of tho B. & M. R. It. K. or by addressing J. Francis, Gon'J. Pass'r. Agent, Burlington Route, Omaha, Nob. OLD PAPERS 5cts a dozen, at The Hhald office. . UlTVlTniisik "T.tJC-" J.Ut.yuotLr,3.-.iftJ" T- 5B r : Eye Openers. Dunlap clieess is the best tho market.' Try it. A now lob of allocs just received r by W. K. Hcrncall. Wildy's received a now lino of clothing. ' Wiluy litis received liis first lanrfl invoice of spring goods ami clothing. New lino of carpels at Hern call's. Ask your grocer for Ankorp coffeo and get a 'silver spoon frek Wildy. ! 8 lbs. of broken Java coffee at Wildy's for 1. Kaffir corr for sale at "VVildys Best C3real for this country. I will buy your county warrants. H. R. Gbeex. 20 pounds of largo California prunes at Wildy's for 1. Easter glassware novelties at Wildy's. 20 lbs dried apples for S1.00 at Wildy's. PADS! PADS! Call and get your sweat pads of H. R. Green. Brown backB at 35 cts each. C. J. Wildy wants some chick ens. New dry goods and shoos, right . i , . ;..i itt7:u.. , Up to date, USt received at Wildy S Look at those Ave cents prints at Wlltly.s. New Goods, Now Cljthing, New lints, ' Now Ties, at WILDY'S Now Everything J Tlie underalifiiod will lake cattle to lierd for the season of 1800, ut FrjBket's nuicli. Terms, 51, for Sea- son, from May lat to Oct. lfitli. 1 E. D. PiPUit. Havine puchased of J. M. Trout his Shire stallion, "SAXON , KING" and his lu-oncli coacii stallion, QUINAULT, I will stand them during the season at my farm, six miles west and two north of Hemingford. Terms, $5 to in sure. Tin so stallions aro too well known to need further description. A. S. Enveaut. Tho following is the program of the County Suuday School Con vention to be hold in Hemingford, Saturday, May 23, 1896: 10 a. in. Devotional services, Rev. W.J. Golden ,nnA , pni. Vlint nro t Iih lOiJO a. m. I apoi, v nat aro tuo i i- ( n, C,,!l,. tn dm Qiinrliiv duties ot the lainil to tne ounuay School?" Mr. A. S. Enyeart. Discussion. 11 a. m. Paper, "Tho true func tion of the Sunday school." Rev. "W. J. Golden. 11:45 Dinner. 1:30 p. m. Devotional services. Rev. J. W. Kendall. 2 p. in. Paper, "How can wo gain best results from our Quarterly Temperonce lessons?" Rev. Wm. Shambaugh. Discussion. 2:30 p. m. Business session. 3 p. ra. Address 4 Adjournment. The :: Herald Official County Paper and prints all tho news. Wo are prepared to give clubbing rates on any paper you desire, Sub i scribe now. Sale of (Ming ! If ::zjZl 7-- Fiftal-"-Proof Notices Hon. J. W. Weii, Jn., lteglster. Hon. F. M. liUOOME, Hecclvcr. Parties having notices In this column ars m questcei to rout tne same caretuny ana report t huh outre tor correction any errors that mar. I exiut. This will prevent possible delay lu making proof, Land Office nt Alliance, Neb.. May 0, IKK). Notice is hereby given that the followliur named bcttlcr Ims tiled notice of his Intention to mako final proof in support of his claim, and thnt Miid prout wiU bo mudo before ltetrUter or ltocoivcr at Alliance, Neb., on Juno SO, lb'JO, iz. MAHTIN MA0PHE1J, of Marsland, Neb., who made II. E. No. lfilfi for-, tho NE i sec. , tp 29 n, r fit W llename-s Uie following; witnesses to prove his continuous residence upon and cultivation of siila land,. viz: John bjullenbcrcor, Edward T. Ureeg, William P. Ilurton.ot Marsland, Neb., Morrison liuwehurd, of Uolmont, Neb. Also, Notice is hereby givon that LUrilEIt Tj. MAXFIKIjD, of Calloway. Neb., has tiled notice of intention to make final proof before Heglster or Keceiver "at eatuo time and place, en timber cnltnroappli c atioa Ho. U19 for tho N E H sec. 'M, tp 2s u, rg 4!Mv.' He names an witnesses: Geoigo W. Bpnrkn. James Pinktu-tou, jr., Wm. Michaels, W. X1'. Walker, all ot llcminarord, lloli. J. V. Wehni, jiu, lWlstar. Land Office at Alliunco. fteb.. May 21. 1H00. Notice is hereby itivcn that tho foliuwlnir named ffttl.r lis- tiled notice of his iutontioa to make fuicl proof in support of his claim anil that said proof will Im made before tho ltegistor or Ileeoitcr at Alliance, Neb., on June W, 18'JO, viz: MATI1IAS BOLBERO. of t'learmont, Wyo., who made If. E. No. Mfl, tor the H W ii eoc 3-1. tp 29 n, rg 48 w. Ho names the following witnensos to provo his continuous roHlJeneo upon and enltliatiun of raid laud, viz: John llarnstead, Peter O. Anderson, of Heminaford, Nob., Chris Media, Peter Hoderberg, of Jlunlnp.Neb. J. W. Weiis, JR., KcRistir. V. H. Land Offion, Alllsnc. Neb . May 0, 1S. Notice is hereby given that KNOt'U C. UA PEIt,of Ponca City, Ok'ahoma, has filed, no tica ot intention to maKO liual proof before ilWister or Keceiver nt his oftice in Alliance, Ifeb,, on the lMK day of Juno 1S00, on timber Cultnro nppliention no. 510, for the s w U soc 35, tp 29 n. r W w. MenaniPH b witnesiep; Jonn vk rierc, or nommgrurd. Neb.. J. C. Wood, Peter Sniaoklen, oi luurnjanu, M'o., uuiiii i. oouns, oi licmiiu;- ford, ?cob. J. W. Wehs, Jn., lteKieter." Land Ollici at Alliance, Neb., April 2T, leCtl. Notice is hereby given that tlio folluwIiKc natned rcUIt has filed notico of his intention to mako final proof in support of his claim, und that paid proof will bo made before Ho beet Lucas U. S. ('. 0. Commisniouurat KavSprintc, ,'.n;Juuot, WM, viz: unions h. yriuGirr. Hay Springs, Neb., who madf IT. E, Nv u it for the E t N E U, Sff!Nl! k it H E 5. !t a i sec. ti ip zv n rg it w. ilenamps tif lollowing" ttlinoHses io provo IiIh coutiniioUH rcHidcucn upon and cultivation ! of, mid laud, viz: William Albrigb, Iiahs : Kpmn. Janic-H ClLinens. Ellis (liirucr. all T Hay Springs, Neb. AlAo- WILLIAM II. ALmtlOHT, of Hay Springs, Nob., who md II E No. 87.1.", for the W S N W J A W !i 3 W H sec. 23, tp-S'J n, rg 47 w. Ho names tho following Witnesses tn prove hia continuous residence upon, and cultivation of, weid laud, viz; l!rigit II. SVriijht, Hans 0c?luySJparm1(bf(lli;1(;h1,e'D8 ?Ul 3 uarnpr, nu J, W. WcilN, Jr., Register; I.and Oifice at Alliance, Nob.. April l. 1MW. Notice is hereby given thnt tho followinr pamed settler lias fileel notice of Mb intention to maueilnnl proof in support of ids claim an4 that said proof will bo mado beforo the llvgist'r an'd Keceiver nt Alliunco, Neb., on May 25th, lbtW, viz: - SOPHIA ItEESE, of Bos Ilntte, Neb., who mado II E No. 2031 for thn S M NW H it S t NE k see 5. tp U8 u. r 17 w. Stio names tho following witnesses to preT her cnntlniiotiH renldenro npon and cnltlvatian of paid Inud.vU: W.A. Clark. Z.T Uuuninghaiii Simon llolllnger. James Mcl'abo. all of Dos IUitte, Nob. J. W. Wehk, Ju.. lteglster. U. 8. Ijend Ottiee, AUianceTNeu.. May Pi, ISM. Complaint having been entered at this olhce by EdwardT. OreKB against Karel Klos, for abandonlm; his homestead entry No. 2475. dated I June 18. 1(-J. upon the NKH see- 4. tp 29 n, n; 61 w, lu Hox lluttu county, xnourasKa, wim V'ow to tho cancellation of poidventry; Uin aul parties aro hereby nummouud to appear at this cilice on Uio 22nd ilay of Juno l9a, at 10 o'clocx a. m., to respond and furnish testimony con cerning wiiii anc'iicei auanuonmrnt. t'onteBtaut will procure publication of tbls .,,, ,., made ra Buma n,,w(u,uur i, iHi,t nearest tho land in nox nntte county, Neb., for Uijrty dRJb 1)rjort0(Uto f he-arimr. J. W. Wwia, Ju. HegUter, L. W. BOWHAN Physician and Surgeon, ALLIANCE, NEB. Office rooms and residenco m Braver block, up stairs. Special attention givon to dis eases of children . - TUTTLB & TASH Attorneys - at - Law, HFMINGFORD. NEBRASKA. Hew Spring and Summer Millinery, Hats of various kinds, Tim ming8 of laces, Ribbons, Flow ers, etc., of latest style, and prices to suit the times. Thanking you for past favora, will try to merit a. continuance of same. Miss j. Adams. L . :-t 3beif: DiYS I Offer K -A i T i - ,-a K ) mimiam