TWELVE PAGES. . I OMAHA DAILY BEE.TWELVE PAGES , |
HHHN1I i I I M" ? * * { * * < i. < HN-ttr . I
ESTABLISHED JUNE 10 , 1871. OMAHA , SATURDAY IO11N1NGOCTOBER. . 20 , 1804 TWELVE PAGES. COPY IWE CENTS.
Mr. Rosewater's Address on the Moral and
Mercenary Aspect of the Present
Campaign in Nebraska.
MAJORS IS NOT FIT TO BE GOVERNOR
True Inwardness of the Bankers and Business
Men's Save-the-State Association
and Why it Will Fail.
CONFEDERATED CORPORATIONS TOT
Potential Arguments in Support of the Claim
that the Election of Judge Holcomb
Will Not Disturb the Financial
Credit of the State , but
Will Improve It.
Following Is a full stenographic report of
Wr. E. Rosewater's campaign address to the
business men of Omaha Wednesday evening ,
Doycl's largo opera house never contained
tnoro people than were packed Into It upon
the occasion of this address , which was re-
celveil with evident appreciation by them ,
Tlio meeting was presided over by Mayor
Do nils , who Introduced the speaker. j
Mr. Rosewater said : I
Mr. Mayor and Fellow Citizens : The proud-
ist boast of the ancient Koinnn was , "I am
i Hainan citizen. " The proudest boast today
if any man that stands on any foot of soil
apoti this globe Is , "I am an American cltl-
ten. " ( Applause. )
There arc tlioso In tills community who
have been called upon to take the/ oath to
lupport the constitution and the laws of the
United States In the ordinary course , cither
when thy wcro Inducted Into some oince or
when tli y wcro mode citizens by reason of
having been naturalized. There arc perhaps
hundreds who , with mo , took their first oath
of loyalty to the flag during the war , to pro
tect and defend not only the flag , but the
union of the stutes. Therenro perhaps not
half a dozen men within my hearing who ,
like myself , on bended knee , with uplifted
ami , took tlio moil solemn oath In the face
of the emblem of liberty , Independence and
union the starry banner not only to de
fend nnd protect the constitution ol the
United States and the flag , but to defend with
ill their might and power the people of the
itate , the people of the country , my own
neighbors , every human being , against the
encroachment of tyranny , ncnlnat the en
croachment of any power that would destroy
the gprm of Independence , the republican
form of government. ( Applause. ) And I
was Impelled by this oath , an oath that very
few take In an order that Is not political
and not sectarian , to tender back to the re
publicans of Nebraska the token of esteem
nul highest honor that was over conferred
ipon me by the party to which I had be-
onged from Its Inclplency , with which every
Ibro of my being Is In sympathy , and for
irtileli I expect to light during the balance of
aiy days , provided that It will stand out for
the principles upon which Abraham Lincoln
Has made president of these United States.
[ Great applause. )
And I want to read to you here tonight the
exact language * which I used In returning to
the convention that assembled here eight
weeks ago today the appointment or crcden
tlals hy which I was placed upon the na
tional republican committee. 1 said then :
"You liavo nominated a man for governor
who has been branded as an accessory to
forgery and perjury by a republican congres
slonal committee of which Hon. Thomas 11.
Iteed was chairman ; a man who stands sell-
convicted of falsifying ofllclal records ami
procuring the issue of a fraudulent voucher
while acting In the capacity of president of
the state senate ; a man who has consorted
with boodlurs and Jobbers and converted the
room of the lieutenant governor nt the capltol
of the state Into a den for debauchery : a man
who has been the pliant tool cf the railroads
In season and out of season , anil whose nom
ination was procured by the combined tnllu-
oneo of corporate cappers , professional tribe-
givers , Jury-fixers nnd Impeached state house
officials. 1 cannot and never will ask any
Eelf-rerpecting republican who loves his state
and country and desires to perpetuate the
free Institutions under which wo live , under
n republican form of government , to help
u ' rivet the chains of subserviency to corporate
monopoly and tyranny upon the people of
tills commonwealth. Believing It my sacred
duty to uphold the standard of true republi
canism at any sacrifice. I desire to bo freed
from nil restraint which might be Imposed
up mo by remaining on the national commit
tee. "
Now. how was the terrible arraignment
contained In these few lines met by the con
vention that assembled hero to nominate a
republican governor and n republican state
ticket ? I was not present when this document
was read , but as I am Informed there was a
regular jamboree In the house. Hats flew
up , everybody seemed to be delighted and no
body seemed abashed that a man nominated ' '
In a great convention , representing eighty
thousand or inoro republican voters , was
charged with such very serious and grave
offenses.
MAJORS RECOMMENDED FOR PROSE-
CUTION.
Well , the candidate for governor , after he
Imd been nominated by that convention , met
these charges In the same fjilrlt. He treated
tlio matter as It It was of no concern to
anybody. Ha simply brushed oft lightly
the chnrgo which was embodied In a volume
of the Congressional Record , and which I
have right hero to exhibit to anybody that
doubta what I have said regarding this mat
ter , In the letter of resignation. This vol
ume contains something like forty pages ot
testimony nnd reports concerning tlili con-
congressman , of fraud perpetrated
by a man who was under oath to support
the t constitution of the United States ; who
was under oath to give the truth and the
whole truth , and who withheld the truth ,
and who was , by the committee of congress
ot which the Hon. Mr. Reed was then
chairman , recommended for prosecution by
the attorney general of the United Slates
and by the prosecuting attorney of the Dis
trict t of Columbia.
How has this matter been met elsewhere ?
In ] the same remarkable spirit of Indifference.
Now ] , assuming that this charge with regard
to | the contingent congressional fraud Is one
of these things that ban expired by the
statute t of limitations , let us paes It out of
sight ( and let us sec what the other charges
were. They were very grave indeed. They
Involve | the Integrity of the lieutenant gov
ernor ot Nebraska , who today holds the posi
tion under the constitution of this state ,
and who at any time your governor Is ab
sent , or In case of his death or resignation ,
would step Into the chair occupied from
time to time by honorable men men of
the highest Integrity , from Alvln Saundcra
down to Lorenzo Crounse. ( Applause. )
These charges with relation to his conduct
as lieutenant governor have been met by
deliberate falsification of fact , contradicted
by the printed records which I hnvo here ,
and from which I will quote further on. In
place of meeting these charges ,
or In place of showing a dispo
sition to uphold the credit of
Nebraska , the credit of her good nams as a
state. Inhabited by patriotic , loyal , honest
citizens , we have- had an association formed
In this city by gentlemen who clnlm to repre
sent the business Interests , avl they have
Issued a manifesto recently , not only to jour
own citizens , but to the cltljjns of the whole
state , with the solo object In view of electing
Thomas Majors governor at Nebraska.
THAT SAVE-THB-STATI3 MANIFESTO.
Now , let us see what these gentlemen
have said to the people of this stile. They
say to the voters of Nebraska : "Four years
ago prohibition , with Its attendant evils ,
threatened the prospsrlty of Nebraska. The
business men of Omaha and 'ho state , with
out regard to party afllllatl- , then united
In a determined effort to wiird off the dan
gers , and largely through their efforts pro
hlbltlon was defeated. Today Ncbiaska la
threatened with populist dom'natlon. ' AH
business men , regardless of partisan politics ,
we again unite to avert 112 blight nnd business -
ness depression which the suprunucy of pop
ullsm would entail upon our suite. Our char
acter , reputation , credit and bi-.Mnet-s rela
tions with the state arc determined by our
nets and conduct as a body. If wo col
lectively act In accord with unsound mid
dishonest business principles , If wo favor
repudiation of our debts , or evince a desire
and Intention to legislate In unfair hostility
toward our creditors , we fchall rocci/e , as we
shall deserve , the condemnation of the busi
ness world. " And they make appeals to
other business men to join them In this
crutadu against the election ot Judge Hol
comb to the position of governor of Ne-
brasKa.
Four years ago the prosperity of this state ,
of this city , was threatened , anil the business
men united with their fellow citizens to ward
off the danger. How was It tour years ago ,
and how Is It today ? Four years , ago a propo-
"Isltlon was made to engraft Into theconstltu ' -
| tlon of this state a provision that pro-
hlhlted the manufacture and sale of malt
und spirituous liquors within the state of Ne
braska. That provision once Imbedded In
the constitution would have had to remain
there tomcthlng like twenty , thirty and. pos-
slbly ntty years before we might have
been abli > to repeal It by the
proper method prescribed by the constitution.
j Today wo are threatened simply , according
to these gentlemen and I am willing to
take their word for it with a great
calamity that would extend over a prlod : of
j two years. So , then , there Is a great differ
ence between a constitutional amendment
prohibiting the sale and manufacture of
liquor and the cl.ctlun of a man who is
| piesumcd to have hoofs ) and horns , and who
Is presumed to conllscato all the property
of these gentlemen , legislate It out of exist
ence , pass upon the laws which hi would
himself execute and abrogate the Mipreme
court. I presume all tho-'e jlhlngs are
probable , are they not ?
What was It four years , ago ? Four years
ago thor * wer 25,000 voters In this city and
county , all Eolldly harmonized upon one Iseu ? .
They were all opposed to the adoption of the
constitutional amendment because they be-
| lleved that It would work untold hardship
upon them and destroy their proprrty value ? .
I There were not 00 people In this city that
were of opposite opinion , Today there ape
at least one-half of the Voters ot this county
| I will cay more than one-half , and I b-
llcve nearer two-third , * Jf they are given a
fair chance to vote their honeit convlctloni ,
that arc rot In favor of Thomas J. Majors
for governor. ( Applause and cheers. )
Four years ago you had this danger hangIng -
Ing over you. That ihcro would be from
200 to 300 of your stores nnd store houses
vacated nnd left vacant by reason ot the
ipenlng of a lot of holcs-ln-the-wall anil by
lie Incursion of the bootlegger In place of
lie legitimate dealer in liquor. You wcro
tircatened further with the absolute prcven-
Ion of the extension , enlargement or re-
instruction of the existing establishments
or manufacturing liquor and also ot the
ulldlng of new ones ; but all ot these things
'ore ' trivial compared with the one danger !
ou were threatened with the withdrawal
f J2GO.OOO from your school fund every
ear , which in four years would
ave amounted to over $1,000.000 ,
hat would have had to liavo been raised
Ithcr by direct taxation or your schools
have been closed or partially closed.
hat was a serious menace to the educa-
lonal Institutions , of your city , and It was
Iso n menace to many other educational in-
tltutlons in other towns all over the state of
Nebraska.
Compare that with the present situation.
governor Is purely an executive. He can-
ot make a single law , he cannot change any
ixlstinc law , and you have a judiciary that
ou know Is not unfriendly to these great cor-
loratlons , nnd gentlemen who are so deeply
ntcrested In maintaining the credit of their
wn Institutions.
A Voice "What Is the matter with the
ichool fund now ?
Mr. RoEOwater U Is slightly overdrawn.
Great applause. )
Now , then , who was It that made > this de-
'tat of the constitutional amendment In 1S90
losslble ? Was It only the combination of
gentlemen who are represented In tlio busi
ness men's ' manifesto ? Was It not the com-
Inatlon constituting something like 122,000
. 'oters In the state of Nebraska , and In this
city nearly every man that had a vote to
give ?
I have been charged by the paper that has
been bronchi up here and circulated to be-
'rlend ' , Instruct and enlighten the citizens of
Omaha In their duty , and teach them how to
rate , by the Lincoln paper that has never
Jttcred one word friendly to Omaha , and that
lias never failed upon all occasions , and in
cason and out of season , to malign' and He
about this city and seek to destroy Its credit ,
and seek to destroy Its reputation by that
irery nice paper , that Burlington Journal , I
tiavo been charged with going back upon
what I said four
years ago ,
and that I had four years ago
thoucht that ureat calamity would
befall this state , and that now I do not
want to see. calamity. Well , there Is a
great sight of dllfercnce belweeti the calam
ity of prohibition , which Is 'borne ' out by
actual experience- every 'state In the
union that has had prohibition and by
calamity manufactured In the back parlors
of our banks. ( Great applause. )
DANK PARLOR CALAMITY.
Now , then , we have had a list' presented ;
but perhaps before I go on to that I should
read from this guide , philosopher and friend
that Is being thrown about here from door
to door everywhere free of charge. The
Burlington organ tells you that the first
steps In the Omaha bankers' organization
were decried and snccrod at by the organs
of populism , and they were refused admis
sion to the columns of the papers which
they had helped to build up when they
asked for the Insertion of their appeal to
the voters. Now , I am not responsible
for any paper except The Omaha Bee. I am
willing to be responsible even In Judge
Scott's court for The Oniahn Bee. [ Great
applause. ) The only gentleman that called
upon me with any requisition to Insert no
tices from this business men's association
was Mr. W. V.
Morse , and he must bear me
out In paying that I did not refuse to pub
lish them ; that 1 did not askvthcVn to pay
anything , but I stated to him ' ( hat I would
publish any statements that were not too
extensive and would not charge anything
for their publication , but would reserve
to myself the right to criticise and comment
on and discuss the matters Dial they pre
sented to the public In such a way as in my
Judgment would be to the public welfare
and the Interest of the people of Nebraska.
( Great applause. )
Again. Hero Is another very remdrkable
statement : "When the leading 'citizens of
a great commercial metropolis , without re
gard to party , gather and place themselves
on record as opposed to the
policy of a candidate , they everywhere nnd
In every state receive attention and considera
tion , Voters recognize that business men
as a rule are adverse to political agitation ;
they know that It Is dlfllcull to secure In
terest ou the part of such 'citizens In
ordinary political maneuvers. It Is only on
occasions of great Importance , when In
dividual liberty and the rights of citizens
nro threatened and property Interests arc
put In jeopardy , that as In
New York vhen the committeeof
seventy organized to redeem the city from
Tammany rule ; that , as In Philadelphia and
other cities In Pennsylvania , when business
men Joined together to defeat 'a corrupt
| state ring , or in Nebraska , when they band
together as they did four years ngo , that
the business men came before the public
as they are doing In the present campaign,11
Well , that Is very Interesting. If It was
true. If these business men were banded
together to put down corruption. Instead
of being banded together to uphold corrup-
tlon. why , we would all go with them.
( Great applause. ) If these business men were
here to put down the state house ring as
they are now trying to keep up the state
house ring and maintain It In spite of Its
. notorious rottenness , we would all be with
them and there would be no questions asked ,
( Great applause. ) If they wcro banded to
gether to put down Tammany In any place ,
to uphold Integrity anywhere , then I should
be with them as I was four years ago with
out price and without anything inoro than
a nice certificate- signed by two or. three
hundred of them in recognition of the cerv
ices which I rendered In four months hard
campaigning. ( Great applause. )
The- business men , as they call' ' them
selves , have a disposition to advertise Ne
braska abroad as a start1 threatened with
terrible calamity. They went to the Kansas
City Dally Journal , a republican paper of
democratic tendencies ( laughter ) , a republi | |
can paper that favors 16 to 1 free coinage
and also la accessible when It Is necessary
( laughter ) , and that paper published an
article called "A recsrd of rain
what populists have done in the
stjto _ of Kansas : Blighted Us
prosperity , frightened capital away , " etc , ,
and remarkable as It may seun , this verj
letter , and tin- editorial on the luslJo page
of this paper , were all written right hero In
Omaha ut the fake mill which is running ct
the Mlllanl hotel. ( Great npplaute ) In less
than twenty-four hours It was spread all | |
over Nebraska. It went bodily Into the
columns tf the Lincoln Jou.nal , and was
copied and credited In good faith , ot course.
And 1 know a gentleman connected with
that bankers' association who knows a great
deal more nbout the Ins and outs ot how this
article got Into this paper than he would be
willing to tell , ( Applauio. )
What about this wr ck and ruin ? They
arc advertising us all over llio country as In
a terrible condition ; that \ fe arc threatened
with money famine nndHhal wo arc threat
ened with the withdrawal * of credits , the
foreclosing of mortgages1 , the withdrawal of
loans ami all these horrible' ' things , because
one man who Is a cainlldata for governor is
liable to be defeated. ( Applause , )
In the article that I hv6 just read they
say when they band themselves as opposed
to a policy or a. candidate , voters must
follow the lead of busltk-ss 'men. We con
cede that when business , xnen rush to the
defense of the state , whan great calamity
threatens them , that their voice Is entitled
to every fulr consideration and that they
ought tobe followed , anfl } agree with them
fully , providing their promises are true.
What are the facia ? After a good deal
of agitation , bulldozing am ! threats they pub
lished the list this morning for th ? first time
of what they say are the men who stand up
for Nebraska. Only 318 names arc on this
list ; but the title page says there are over
1,500. Of course , that slight discrepancy
docs not make uny difference.
How was this list procured ? If I am cor
rectly Informed , In the first place A little
circular was sent out to about seventy
prominent business men in this
city asking them to meet In the
Paxton block one night for the purpose of
mutual conference on matters that Inter
ested the city of Omaha. No mention was
made as regards the object of the meeting.
And. by count , as far as I can learn , twenty-
three gentlemen did meet and respond 'to
that Invitation.
A Voice Did you get a circular ?
Mr. Itoscwatcr No , I didn't.I am not ono
of those men who stand up for Nebraska.
I have no Interest In Omaha , you know !
( Applause. )
I learned another fact. One of the gentle
men that wa ? called to that place was at
'
once put upon the 'list as secretary , but It
was only after ho had been so selected that
he discovered that the object of the meeting
was not In accord with his own conviction ,
and ho has not attended their meetings
since. But , of course , his name figures just
the same as one of the business men that
preaches calamity and masquerades before
the public as frightened but of his wits
over the prospect of a man for governor who
will let those ringstera at Lincoln understand
that they cannot loot the treasury any
further. ( Great applause. )
THE LIST ANALYZED.
Now , then , we will examine and see- what
this list Is comprised of , classified In my
own way. In order to five It great proml-
nnnoe , this list has been very materially mag
nified , and there are some people who always
want to magnify things , even when they sign
upon a business men's list. Here wo (1ml ( ,
for Instance , 1'arlln , Orendorf . & Martin
and then Parlln & Orendorf and ; company.
Mr. Martin Is a very big man , you know ,
and he straddles both continents at the same
time. ( Great applause. ) We find also our
mutual friend , Dan Farrcll , and then we find
Farrell & Co. , wholesale dealers In molagfcs.
I do not know what this molasses Is to be
used for unless it Is to 'smooth tire way for
the business men's association
to , catch , tMC f
( Great applause. ) Then we have here the
American Biscuit company'and then we have
I'Icrro Garneau. Then ' we have the
Goodman Drug company , then C.
F. Goodman , O. P. Goodman
C. E. Goodman each one separately. Now ,
there are four names fiinr firms put on the
list as though they were really separate es
tablishments endorsing this calamity appeal ,
when It is only one. Wo' find the same thing
with the wholesale house of McCord , Brady
& Company , Die gentlernen composing that
firm arc on there separately , so as to make
this duplication. We find ! the same true with
regard to the banks. First comes the Mer
chants National bank , then come all thei offi
cials In the bank , one right after another. .The
same Is true of the First National. The bank
appears us one concern anO then the officers
of the bank ; nnd then the lot of other people
connected with that establishment , The
game Is true of the United .States National
nnd the Nebraska National , which Iq rein
forced also by the Equitable Trust company ,
with Lew'ls S. Reed , president. That , of
course , Is practically a part of the same es
tablishment. As might be expected we find
the confederated corporations. We find , for
instance , the Nebraska Telephone company ,
the 1'aclfic Express company , the Omaha
Electric works , then Mr. Thomas L. Klmball ,
president of the Union Depot company.
( Laughter and great applause. ) I am sure
that Jlr. Klmball Is kept busy Just now with
ths work of the Union Depot company.
( Laughter. ) Although he figures In an
other place as president of a bank , I
think that the- duties that devolve upon him
are so onerous lu connection ijlth the depot
company that 1 do not sec how he can attend
to the bank and attend the business men's
meetings besides. _ Wo find also the Western
Electric Supply company and the Barber Asphalt -
phalt company , and ( hen the Standard Oil
' company ( laughter ) , nnd .then the- Omaha
Elevator company , and the Omaha Electrical
' company. So there are these confederated
corporations , who are all more or less Inter
ested , directly banded .together , with the
railroads , who discreetly keep In the rear.
You do not see a single railroad man's name
hero upon the Hit , except the president of
the Union Depot company , which Is the larg-
eat depot under the skies that I hnow of.
( Applause and laughter. )
Then I note two gentlemen of leisure. One
ot the gentlemen- John A. Horbach , listed
as an investor. The other gentleman la A.
J. Hanscom. Ho is also an Investor. Now ,
Mr. Hanscom Is a very nice old man , and
we have named a park after him and per-
opctuated Ills name forever. * So far fco
good. But Mr. llanscam says lie Is bound
to vote for Tom Majors -this year , because
he does not want the rate of Interest to go
| up. ( Laughter. ) lie is a gentleman that
I have known for all' these years. Away
back when I first met him the sight of a
man that wore a blue coat would put him
into a pasm. and the eight of a eoldler
iiwith a bayonet and musket nnd "U. S. " on
his knapsack would make him recoil forty
feet. That man actufily ln my own hear-
Ing , tmld that If Vallandlgham was ot
elected governor cf Ohio he would move to
Canada. Well , Vallandlgham was ot
elected , but lie Old not go to Canada. He
Just went to Poughkeepsle ( laughter ) , and
when he was In Poughkeepste' tie was a
citizen of Omnha , and when howas In
Omaha he was a citizen of J'oughkeepBlo.
and the assessor never' ' could find him In
Ciieither place. ( Great affplanse. ) That gen-
tleinan wants a man who wears n hickory
shirt and works thf old ! soldier racket
elected governor of Nebraska , and the only
reason he- gives on earti | Is that he IB
i afraid that the rate ot Interest Is going to
| go up and because eastern capital won't
! coins here and rpmpcte with him In loaning
out money. I am perry for the gentleman ,
because it dcen lock very "d. It looks
I like he would suffer seriously next winter
( laughter ) If thla man Holcomb should be
come governor and ho ehould liavo to loan
his money on mortgages at 10 per cent In
stead of 8. I think ho would feel awful.
( Laughter , )
Then there nro a tew very prominent gen
tlemen of the professional crowd. For In
stance , our friend C , S. Montgomery of
Montgomery , Chnrlton & Hall la ono ot
the business men , and we all know
that ho had no relations to any of the- rail
roads , and nc-vor had ! Then , there Is ono of
our councllmen , who is no relation to any
body In that Merchants National Bank build
ing at all , not at all ! And then we have
11. W. Breckenrldgc , of I ) . A B. , ho haa got
It. I Oo not know what It stands for. It
ought to bo B. & M. , I think. ( Applause. )
The strongest thing on the- business man's
list are the side partners of the czar of' '
Nebraska. These side partners who got In
terested. In Sheridan town lota and Wyoming
coal land , and over hero In East Omaha In
side tracks , In railroad construction , con
tracts and other lines of business.
THE COMMON INTEREST.
Now , all those gentlemen , I say , are as
much entitled to their views as I nm , or you
are. In politics. They have a right to protect
their own Interests and they have a right to
,
appeal to th3 public to help thorn p-otect their
own Interests , The only question is whether
the public and they have the same Interest.
I do not think they always have. There
are some occasions when our Interests and
.
their Interests do not gibe. Of course , we
.
like them very well as Individuals and as
citizens ; thry have promoted the growth of
Omaha ; they have helped to build up our
state , but tbolr private Interests and their
confederated Interests ought not to stand In
the way ot the credit of Nebraska to have
n credltablo man In the governor's ' chair.
( Applause. ) I want to say a word about
common Interests and uncommon Interests.
The city of Omaha as a corporation has one
Interest and the gentlemen who run banks
In the city of Omaha , have n different Interest.
The city of Omaha has n treasurer now
, that gets JG.OOO a year , and under the charter
the money belonging to the city of Omaha Is
presumed to bo loaned out to the highest
bidder. But ( here Is no highest bidder , be
cause these gentlemen Uave mutually agreed
not to bo the highest bidder
against each other , and consequently the
city of Omaha gets 2 per cent on the
money which. e\\a \ \ deposits In
these various Institutions. The
county of Douglas , which Is the city's wife ,
gets abend of the city In some way just as
wives often do. Well , a few months ngo
the city was hard up , There was a shortage
In one of the funds In the city treasury , and
the bank combln .Mloaned the city $50,000
of the city's mo'ntydpjck again at 7 per cent.
Now , I can see very clearly , nnd you can , too ,
thnt In that Instance the Interests of the
city were not the interests of these gentle
men. Their Interest Is a little bigger than
ours. Ours Is only 2 per cent. So , then , so
far as Interests are concerned , when they
are common we go with them ; when they
ore not , wo do not.
Now , Is there any good reason why these
mercantile Interests should be alarmed ?
Those gentlemen say that there Is ; that
they are convinced that credit will be wlth-
dra\57ijrom this slate.that ; we will not b ?
able. -borrow money as readily and will
have , to pay higher Interest. Let us see
nbout that , and ascertain whether It Is true
or not. In the first place let us sec as re
gards the state credit. The credit of the
stnte of Nebraska , so far as I know , has not |
been impaired. Wo have had a succession
of republican governors , barring one excep
tion , durlflg a short interval when Governor
Boyd wa In the chair , and I do not think
that those gentlemen class Governor Iloyd
as an unsafe man for the public credit. We
have never as yet bonded the state's credit
at a lower rate of Interest than B per cent.
The state of KnnsatJ within the last four
months has had an offer from the Citizens
Bank of New York for funding her bonds ,
which 'have been running at a high rate , at 4
per cent ; that Is to say , theI per cent
bonds of the state of Kansas were mer
chantable In the city of New York at par.
Let us look , then , at the condition of other
states equally situated , and also some cities.
Thcro Is not the shadow of a doubt that
the credit of Colorado Is every bit
as good tridnyas , the credit of
the btato of M Nebrasha I nm talk
ing of the statcr-notwlthstandlng th"
assertions of these gentlemen. The city
of Denver , two weeks ago , sold a 4 per cent
bond nt par. The city of Omaha has never
yet sold a , 4 per cent bond. Wo have not
Issued one ; but wo did Issue one at 6 per
cent some time ago , in the early part of this
year , and it was sold at a premium of one
eleven , that Is to say , 11 per cent above par.
The city of Portland , Ore. , sold a 0 per cent
bond at one twelve within the last two
weeks. So then , Oregon , with a populist !
governor , did not destroy the credit of her
principal city. Portland. She was still able
to sell her bonds , notwithstanding she 1ms
got a populist crank as governor.
CREDIT OF POPULIST STATES.
How Is It with other states ? I went to
the trouble , within the last four days , to
\vlro to the assistant general manager of
Bradstrects In New York , with whom I am
personally acquainted , to ascertain the truth
with regard to the credit of South Carolina.
South Carolina Is under a populist governor
and has had a populist legislature. She Is
dominated by populists. Just as much as
Kansas , and I received this answer yester
day :
"NEW YORK , Oct. 1C , 1S9I.-E. llosewntur :
South Carolina discount rnte on commercial
paper , 7 per cent ; reiil estate mortgage In
terest , G to 7 per cent ; no difficulty In se
curing leans. So far ns learned general
tr ik > only fair ; collections satisfactory ;
outlook for general financial condition bet
ter than this time last year.
"D. H. BATES. "
Now , then , what does that show ? That In
South Carolina they are discounting mercan
tile notes In the banks at 7 per cent , and
borrowing on lands at 0 nnd 7 per cent. That
of course means long time loans. The pros
pect for trade Is better this year than last.
I do not think It Is better because they have
a populist governor , but because they have
harvested a big cotton crop and have abund
ance of things to sell , and when you have a
big corn crop ami an abundance of cattle In
Nebraska , and hay and other products of the
soil , you will have good credit and good
business no matter who la governor of the
state. ( Great applause. )
It is all moonshine. But what Is there fur
ther ? In order to satiety myself about mort
gages , foreclosures and money in Kansas , 1
went to Kansas myself. I wast in Leaven-
wcrth three weeks ago last Monday. I was
in Topeka alee on Urn same day In Leaven
worth In the morning and the balance of the
day , from noon until evening. In Topeka.
What did I find ? The first place I went to
was the Lean and Building association of
Leavenworth. and I ascertained there that
the loins made by that association during
the last ten years have b en at C per cent ,
that they have bad no foreclosures , or but
one foreclosure , In all that time , and that
the Information nas their secretary , Mr. 3111.
and ho Is a republican. Ho had. no object' to
fabricate anything. I went to several busi
ness men mercantile business men on the
principal business street and had personal
talks with them , and they Mid they could
borrow readily in their banks at S per cent.
I went to the banks , to the First National
bank of Leavenworth , toMr. - . I'capcr , who Is
the cashier of that bank , and I have here
ono of their checks on the back ot which I
wrote his answer. I have his answer here ,
which Is : "Charles I'caper , cashier : There
Is an abundancd ot loanable , money In this
bank * Our customers * ay that the demand
for money will Increase materially this fall. "
I went further than that. 1 went to the
court houeo nnd called upon the register of
deeds. That gentleman is a republican , and
I have his letter right here. It Is on the let
ter head of the county court house of Leav
enworth. "Leavenworth , Sept. 24. 1S94.
More mortgages have been filed and recorded
within the past six months than during pre
ceding two years for the snmc period. Loans
on lands In this county range from C to S per
cent per annum. J. K. Creluhton. Register
of Deeds. "
KANSAS' CREDIT ALL RIGHT.
' went to the real estate men nnd stated
this : I have some property In the city of
Omaha which I want to trade for property
In Kansas , land In your neighborhood ;
I have an offer of some of these properties ,
but they arc lands upon which there are
mortgages amounting to $1,600 or $1,800 on
a pleco of land worth about $5,000. Now ,
then"I said , gentlemen , that mortgage is
due In four months and I am told that
mortgages can not be renewed hero In Kan
sas , and I am afraid to make this trade.
What will you advise ? Is there any op
portunity ta get my loan extended or to
borrow money on this land ? ] went to
three or four of these real estate dealers , mak
ing the same statement , and In cvoiy Instance
they said there Is no trouble getting your
loan extended , nnd If you have any
trouble comis to us and we will get you the
loan and will get you all the money you want
on land In this county , provided , that the
appraisement Is not extravagant. That ,
of course. Is a natural condition.
I proceeded to the city of Topeka and
went through the same performance. It Is
true , when I went to the banks In Tope
I did not Introducemyself. . I aid not tell
them I had come on a political mission. I
simply said I am here trying to ascertain
the condition of the money market ; I rep
resent a largo newspaper and want to know
from you what the condition of money Is
In your city. I had statements from various
gentlemen , in every Instance the oflloers of
the bank , and In every Instance they said
there was an abundance of loanable money
In the city of Topeka at 8 per cent to thu
merchants who had a good standing , and
they said that when times were very hard
and stringent , ns high as 10 per cent might
bo had ; but thcro was an abundance of
money three weeks ago when I was there
at S per cent to all mercantile people that
had any credit. I went tc the abstract of
title people of Topeka and made Inquiry
from them , nnd there It was just the reverse -
verse from what It was In Leavenworth
They said that the farmers In that vicinity
hjul been jiaylng of ! their mortgages tnoru
within the last year and there was not so
much * renewal and extension , and the
trouble was to get farmers that wnntec' '
money ; there was an abundance o
.
money on hand that wantei
good ' security , but there were not cnougli (
farmers who wanted to borrow It.
I went to the statehouse and ascertained
there from the state bank examiner , Mr.
Breldenthal , full particulars with regard tc
the condition ot banks In Kansas , and I wan
to say to you It Is In every respect equal to
the condition of our country banks of this
state.
.Then I went back to the Bank of Topeka
to the manager of the- clearing house , am :
asked him how this man Brledcnthal stood
and ho said he Is n populist , but he is th
best bank officer we have ever had In th
state of Kansas. ( Applause. )
THE TOHE CASTOR OF KANSAS.
Now , then , Mr , Mulvane , the preslden
of that bank , has seen fit to write a lette :
since that time , and that letter has beer
published , stating that he did not remombe
having an Interview with me , and that BO fa
as my statements concerning what he sali
It was In the main correct , but ho wantei
It understood that long time loans were mon e
iltfllcult to procure and rates were slightly
higher than before. Now , Just remenibe r
a little thing. I did not know who Mr. Mill
vane was , but upon further Inquiry I find ou
that he Is the brother of tno Tobe Caste
of Kansas. ( Great applause. ) There is a
gentleman by the name of Joab Mulvan 0
In Kansas that does just the kind of war !
for the Santa Fc that Toba Castor does fo
the Burlington. He Is managing the politics
of Kansas , and , of course , they don't wan
to bavn statements sent out that would b
unfavorable to the calamity howler. That I :
a fact. Mr. Mulvano don't dare to contradlc
me. 1 did not try to Impress myself upo
him , and I have hern the blanks ot his ban k
and the statements of his paying teller :
with regard to the clearing house record o
Topi-ka , and ho will hardly dare to don
that I was personally there ; and ho do's no
pretend to contradict me except on that 01
matter of long time loans.
Well , It IB a very ramarkablo state o
affairs , after all , that banking concerns nn
people Interested In loaning out monny xlioul
bo BO awfully exercised because they appre
hend an Increase In the rate of Interest ,
have never known people so disinterested I
my life before ! Suppose n ( louring mill ha
accumulated 2,000 cadis of flour nnd ther
was a prospect that wheat was going up an- -
that n sack of flour would rise $1 In price ,
would the flour mill man feel so terribly dis
tressed becauee his Hour would be so ex
cessively high and his poor customers , the
worklngmcn , would nutter ? ( Applause. )
AFRAID OF USURY LAWS.
I do not sco why the men who hnvo money >
to loan and thcro are millions In our banks
should feel HO terribly fad over the proppct
that their patrons will liavo to pay J or 2
per cent more for Its use. Isn't It that
they are nfrald there Is going to bo a luw
passed to rcduco the rate of Interest from
10 to 8 per cent ? ( Applause. )
And that brings mo back to n llttls history.
In 1&91 a bill passed through the sennle
reducing the rate of Interest to 8 per cent.
The bill got Into the house and was pulled
back and forth by the lobbyist B. On the
last night of the session the bill was called
up anil was about to bo paused , when the
speaker ot the house and five or six other
members were Invited to go down Into the
auditor's office to refrF.h themselves. The
auditor of state , Mr. Thomas II. Benton , had < 1
two baskets ot champagne In hla vault. He
piled these men wlMt liquor and while they
were down there drunk and carousing the bill
was put on Its passage upstairs and defeated. '
Mr. Benton told me that himself , and he said
these bankers are an awful ungrateful lot ,
they -wouldn't pay roe for the champagne.
( Applause and laughter.Why ) > said , the
only thins I could get out of them WHB a.
gold-headed cane , nnd I don't care about
gold-headed canes , ( Laughter. )
Thla terrible thing that wo arc All lookIng -
Ing for and , Is not likely to happen the de
struction of the credit of the sink Is really
a night mare of some gentlemen who are
afraid of something entirely different. They ;
are afraid the next governor might not veto
a bill that would reduce the Interest of the
money leaner. Let us bo frank and honest
about these matters. Hut they say the credit
of the state must be preserved , and they ;
want It preserved through a candidate for
governor who Introduced a very rcmarknblo
bill In the legislature when ho was a member.
I have the original bill here. It la very sin
gular. It Is senate flic 77 , and provides that
cities , towns , villages and school districts
may scale or repudiate their debt It a mn- , , j
Jorlty of the boards or the city councils or
commissioners deem It proper to do so , anil
settle their debts with their creditors at
their option. The bill Is so drawn rihat It In
not necessary for a majority oven of the
taxpayers to petition these board R , but It
In thu opinion of these boards any debt Is
not just right they mny compromise It , scale
It or repudiate It. Well , that bill didn't
pass. What do you think of n governor who
has such n high Ideal of the credit of the
state ? What would eastern capitalists think
when they came to know thnt that man
had Introduced such a bill In the legislature ?
I do not think your credit would be raised
very much.
Judge Holcomb was elected In a district
In which he Is now a Judge by the republi
cans. The district was largely republican
when ho was elected. The candidate for
Judge In thnt district on the republican ticket
( Mr. Hunicr ) , announced that he was not
going to enforce the foreclosure laws , and too
republicans turned him down and elected.
Holcomb , and Holcomb has done his duty-
ami enforced the'laws regardless of whatever
the consequences might be. ( Great applause. )
When a man of his caliber Is made governor
of Nebraska the. laws will bo enforced , and
thcro will bo no danger of repudiation or
scaling of debt , or the stopping , of foreclos
ures.
THE REAL DANGER.
The credit of the state , they say , Is In
great Jeopardy. Isn't It a fact that
the credit of the stateIs In
greater Jeopardy If the state house ring-
thnt was only partially broken up when the
Capital National bank failed and Masher was
sent to the penitentiary shall continue ? Isn't
there more danger In that ? I assort boldly
that the election of Majors will revive the
reign of rapacity and plunder and continue
It right along for the next four or eight or
ten years.
There Is something further behind the-
screen that Impels some of our business men
to make this effort to elect Majors. When.
the Capital National bank went into liquida
tion It was found that the state of Nebraska ,
had $230,000 deposited In that bank , and that
thnt money could not bo recovered cxcept-
by suing the bondsmen of the treasurer.
Under the direction of Governor Crounse- ,
Judge Wakeley was employed to prosecute-
the bondsmen of the late state treasurer ,
Mr. Hill , on the- ground that the certificate *
of deposit of that bank when handed to tho1
now treasurer had no value ; that the bank
was Insolvent before that certificate waa
Issued. That 'suit la now pending In the
supreme court.
Now , quite a number of Gentlemen whoso
i names arc on this business men's list are *
on Mr. HIH'si bond. Suppose that Thomas J.
Majors Is elected governor , and he discharges.
Judge Wakeley and substitutes some shyster
lawyer , who Is In the ring with the state ,
house Rang , to prosecute the case , what
would the state of Nebraska gel ? Wo would
not get a penny , but these gentlemen who ar&
interested In defeating that bond have n vital
concern In the election of Thomas J. Majors.
( Applause. )
On the other hand , suppose the supreme
court should decide that the present treasurer
Is liable , then another set of business ? men
will be struck. It Is very remarkable that
some of the men on ono bond arc on the
other bond. What Is the present treasurer's
bond good for ? I say right hero that out
of two millions and a half , for which this
bond Is presumed to stand , { 1,300,000 are
not worth $13. There la , In the first place ,
Charles W. Moshcr and his cashier , Out-
calt , who signed for $700,000 on that bond ;
Moshcr la In tlio Slonx Falls penitentiary
today , und you cannot collect a dollar out
of him. Then , there is John Fitzgerald on
that bond for ? GOO,000 ; Mr. Fitzgerald at one.
tlmo was a very wealthy man , and today
Is execution proof , and there are quite a.
number of judgments against him In the *
courts of Lancaster county. So that $1,300-
000 of the bond are not worth u penny. I
tent to the present treasurer a number of
limes , and asked him , "W.hero are the state
funds deposited ? " Burring these that nro
deposited under thu direction ot the gov
ernor in various depositories , about one-
half of the money , I presume , Is loaned out ,
In fact , and I never could find out anything
about It. He says , "It Is nobody's business ;
1 ntn the treasurer , and my bond Is good for
whatever the state should have- whatever
| interest It has. " But I say that the bond ]
Is not good.
Well , I am very sorry to say that , not
withstanding we have got a good republican
governor , and notwithstanding that that gov
ernor is nn honest , square man , yet under
the peculiar surroundings and conditions
down thcro at Lincoln , ho has not been able
to compel this man to put up a good bond ,
and ho Is not able to ascertain where the
stnte funds urc. ( Applause. )
FARMINO OUT STATE MONEY.
How Is U In Kaiifns ? 1 have litre the
published statement of the utato treas
urer of Kansas , showing every dollar
lar of the funds of the state of Kansas
up to the 30th ot June , 1891. Can you get
any HUuh statement In the Btatu of Nebraska ,
I would Ilko to- know ? You cannot 1(0 ( It.
I was In Grand Island the othi-r day , and
the cashier of ono of their banks , one of
their largest concerns , told me this : "The
state treasurer comes here , and says , 'I have
got JO.OOO or $10,000 of state money , which
I want to deposit In your bank at G per cent ;
of course , the f > per cent to go to myself. '
Then he FIIJ-B , 'The condition on which this
money Is to go Is this : This money la to
remain In your bank six months , but you
arc to loan out the greater part of it
to a friend ut mlno here. Here Is- John
Smith , you loan It to him at 10 per cent ;
hero Is John Brown , you loan U to him at 10
per cent ; they are reliable , their notes arc
good.1 " Suppuso their notes are good. The
fact remains that the money of the utate la
being farmed out , being peddled out to politi
cians , to personal friends , and , suppose that
It should BO happen that the treasurer had to
disburse the Btato funds- and turn them over
j next January , where will the money bo
j found ? How will It bo If Majora la cov
er nor , I want to know ? Majors IB the most
Intimate- associate of these people , When
I here was a resolution lit the legislature
Investigate Into that Capital National bank
swindle , he did everything ho could to hav <
that resolution sidetracked. He Is the mo * )
Intimate atsoclatu , , 1 say , of tbo toejiurj | '
