14 The Conservative *
were received. People did not want to
buy bonds that congressmen wore de
claring invalid and threatening to repud
iate. At the last moment the secretary
came in person to New York and be
sought the banks to tide the government
over this crisis , and finally they sub
scribed for $4J,000,000 : nt the price lie had
fixed. There were other subscriptions
for about $ ! ) ,000,000 and the amount
realised by the Treasury was $58(500,000. (
THE KERNEL OF THE WHOLE MATTER.
Now it may be asked , what has all
this to do with the greenback question ?
Hero was a Treasury deficit which af
fected not only the government's ability
to meet its daily payments , that is , its
solvency in the ordinary sense , but in
volved the standard of value upon which
all the business of private individuals
rested. Contracts , wages , bank deposits ,
the money in people's pockets , the
price of their standing crops , everything
from the millionaire's income to the
widow's mite , was threatened with a
depreciation of perhaps 50 per cent simply
because the government was short of
mouej' . Some governments ore short
all the time , but the business of the people
ple is not disturbed thereby. Our gov
ernment has been hard up several times
in our ante-bellum history , but that cir
cumstance did not affect the standard
of value or create a ripple in the ordin
ary current of trade and industry.
Now what would have happened in
1893 and 1894 if the government had had
a revenue deficit and had not been re
sponsible for the redemption of the cir
culation and burdened with the task of
keeping all kinds of money at par with
each other ? Why , the secretary would
have said to congress : "Gentlemen , I
can't pay the bills you are making , my
revenue has fallen off ; you must either
give me more money or stop making
appropriations. " Congress in that case
would have granted him the power he
asked for , to issue one-year certificates
for temporary purposes , and would have
devised new taxes to meet the deficit
thereafter.
If there had been no currency ques
tion , no question of the standard of
value , mixed up with the Treasury de
ficit , congress would have complied with
the secretary's request as a matter of
course , and with substantial unanimity.
It was precisely because greenback re
demption was concerned with the other
operations of the Treasury that congress
refused to furnish a dollar in that crisis.
Congress was prepared to incur bank
ruptcy in all its forms and phases in
stead. And yet in the face of facts so
recent and so glaring as these some people
ple say that the government is a better
security for a paper currency than the
banks are. I admit that the govern
ment would bo a better guarantor than
any private corporation if it were
always prudent and always willing to
( Concluded tn next number. )
MAGNIFICENT TRAIN SERVICE
. . VIA . .
THE UNION PACIFIC RAILROAD ,
T\vo Trolris Daily to Denver and Colorado Points.
Two Trains Daily to Utuli and California.
One Train Dally to Portland , Ore.
ClK Colorado Special.
To Denver ami Colorado Points.
Leaves Omaha 1 \
everyday at ll p _ jf
Arrives Denver next day 2:55 : p. in.
OK Colorado fast
To Denver and Colorado Points.
Leaves Omaha
every day at
Arrives Denver next day 7:35 : a. in.
ClK Overland Citnited *
To California in Two Nights.
Leaves Omaha Q BO
every day at C373T ]
Arrives Ogden next day . 1:40 : p. in.
" Salt Lake City next day . .3:10 : p.m.
" San Francisco third day . . ,8:4 : ; > p. m.
California Fast l alL
Quick time to San Francisco.
Leaves Omaha 4 3B
m
every day at ' ' pTMT
Arrives Ogden morning second day .2:00 : a. in.
" Salt Lake morn'g sec'd day. .8:80 : a. m.
" San Francisco morn Urd day 9:45 : a. in.
Portland Fast mail.
Quick Time to Portland only 2 days.
Leaves Omaha > 4m 35
every day at " * T p. jj.
Arrives Ogden morning second day. .2:00 : a. m.
" Salt-Lake morn'g sec'd day. .8:30 : a. in.
" Butte second day 1 : J5 p. in.
" Portland morning third day .7:20 : a. in.
Double Drawing Room Pullman Palace Sleepers , Buffet Smoking and Library Cars , Pull
man Tourist Sleepers , Free Reclining Chair Cars , Dining Cars , Meals a fa carte.
For Rates , Tickets , Sleeping Car Reservations and full information , call on your nearest -
est Union Pacific Agent or address , p ? w
Qen'l. Pass. & Ticket Agent , Omaha , Neb.
THB SECRETARY
SOMETHING NEW IN PLOWS
Plowing and Subjolllng in one Operation.
Save the Rainfall for your land , in
stead of allowing it to run to waste.
A perfect Disc turning Plow , stirring
the furrow bottom at from t\yo to eight
inches below the plow ; breaking up the
glazed furrow bottom ; admitting the
free absorption of rainfall. "Better
than any irrigating device. " Send for
descriptive circular.
DBBRB Sfc CO. ,
JViolIne , Illinois.
ELJV1ORE & COOPER ,
( Established I8SO. )
LIVE STOCK COMMISSION BROKERS ,
KANSAS CITY STOCK YARDS. KANSAS CITY , MO.
CAPITAL , $135,000.00.
Furnish money to responsible farmers for feeding cattle in Missouri river ter
ritory. Also offer investors a limited line of secured cattle feeders' paper , with
the firm's indorsement , at current rates of interest.
JOY MORTON & CO.
MANIIFACTUHKHS AND DKALEHS IN
ARGO STARCH SAL , SODA
SAL/T
CEREALS SODA ASH
General Office , Pier INo. 1. Clnicotro.
Shipping Docks and Soda Factory
C. B. & 6. SLIP I. C. PIER 1 , CHICAGO.
BELT RY. , C. R. I. & P. SO. CHICAGO.
Saltworks :
WYANDOTTE , MICHIGAN ,
HUTCHINSON , KANSAS.
Starch Factory and Cereal Mills , Nebraska City , Neb.
