VOL. V. LET US EXOHAHQE VIEWS. In the time intervening between uow and tbe dale of the People' Independent State Convention thU and succeeding columnH will be open to tbe Populists of the stat to pro pose candidates fortbs ticket of '04, and for United bmu-H Hetiator, and to show reason fur Individual preference. We ttball not have , apace for anything mure tban name and brief reason for the choice made, because we wlitb U bear from a great many. Let no mam aa chr proposicd roHorriopo wbohkjh akaotkr . . . . . ... m aMHn r 1,11 ii iri iimtniia enr tt mi -in nn w - - I. YMB W HITBH Wllili 1 1 IV rijltnufl IJL I vyis ron. If any candidate seem to be leading wbom onr readers cannot conscientiously SUD , strenuously objected . Hut let us reNpecton , another's views, avoid anything tending to ' disharmony If It be possible without sacrifice tf t,lnil,.lia anil hau.rurll11lltlv l.hflM WhO dif S' von, ay an nivalin u uun nuj vuuj fer with us. "In a multitude of counselors there Is safety." But with many to hear from each mutt bebrlef .-Editor W a irn Maksks. lion, Barney Johnson for Governor. Lincoln. Neb.. Aurll 28. 181)4. Editor Wealth Makers: In accordanca with your request for frlondt of candidates to expreis them elves, you may insert this letter ia your valuable paper and express my belief, after careful consideration, tbat lion, Barney Johnson, Into member of the House of Representatives of this state, is the strongest man we have in our state for the Populist party candi date for governor. He is a man of strong qualities, upright and honorable in every way, true to the great princi ples of tbe Populist party, pi messing "excellent good judgment and that broad common sense requisite for a governor to possoss. He was able to be elected, with a good majority to the last legislature from Nemaha county, as a member of the House of Representatives in 1HD3, al though opposed by tho combined efforts of Howe and Majors, each residing in the same county (Nemaha) with Mr. Johnion, Any man that can success fully overcome the opposition of these two politicians will be able to defeat any candidate that any other parties in the state may nominate. Sincerely yours, TlIKODOHE F. BARNEH. Furnas County Man's Choice. Beaver City, Neb., April 30, 1894. Editor Wealth Makerb: We are well pleased with the make up of your paper, both editorially and otherwise, and think the "Exchange of Views" column will prove of much ser vice in developing a good strong ticket. At this dlstanoe from the political center, we still have faith in the execu tive ability and independence of Mayor W ir, and believe he would add strength ii the tloket as a candidate and reflect honor on the pirty and the state us our governor. y This county has no candidate for state office, but we have the very best of material In the person of Hon. John Stevens, and our ticket reads as follows: Governor, Mayor Weir, Lincoln: lieu tenant governor. J. N. Gaffln, Saunders county; treasurer, O. Hull. Harlan county, auditor, D. C. Daaver, Douglas; secretary of State J. A EJgerton or E. L. Heath; attorney general, Judge Holcomb: superintendent of public in struction. Traf. W. A. Jones; commis sioner public lands and building, ''Steven of Furnas;" congress, Fifth district, J. M. Hagan; senator, Twenty ninth district, L. W. Young; United States senator a man who will measure up to the standard of Senator Allen. Yours fr good men, Kl'RNAS CotNTY. John K. Me Herd's Tluket. bCHUYLKK, Neb., April :t0th, 104 Editor Wealtu it a k cits: Here Is my ticket. In making up this list I have kept two things lo mind; first, good men; second, locality: For governor, John M. Kagan, tf Adams county; for lieutenant governor, 11, It. Miller of Way no county, for audi tor oi i.u duo accounts, w , r. iaia ir Phelps county; for cr tary of suw, Sidney H. Kent of l.an.atr county; treasurer. O. Hull of Ihrlan county; commissioner public lands and build tots, Orntndo Ne'.toa of Colfax county ; & u)ritieooi puniio wsirwuop, ,v A, Monro of lu!a county; attorney general, g. H, llolwmh tf litr ooialy. Then, Mr. Editor, i want a MpraK-atatlve mttit ia oongr from this dlttrlct, UUa. of the dude ol the cokooa, who was seat to YYMbiagUw so caw for the HrpuMtcan. That man is John M. iWtvlae, Theawewaat a ubUtly powetfut man to hitch up wluv Senator Alloa, Tbat atan Is Chancellor CsaaelJI -I thaSuU;Ca!ra!tj I don't went U be underdo!, Mr. Filter, as claiming that them tusa are the best men In the Independent party far from it; there are hundreds equally as good and true. And If judg ment and fairness are used there Is bo danger but that a good ticket will be made up. Pledging my name in advance to the entire ticket, I remain, Yours truly, John F. Meffekd. Tbe Greeley Citizen says Greeley county will send "a solid, enthusiastic and harmonious delegation to the Ju dicial Convention, asking and demand ing the nomination of her favorite can didate, J. U. Heald of Greeley county." Mr. Kent and the Oth District. SPUmaviEW, Neb., April 28, 1804. Editor Wealth Makers: I have read with much interest tbe opinions of many in your exchange up on the most available candidates, and I feel it my duty to add a word, more especially as to congressional nomina tion in tbe sixth district, First of all, there should be no ques tion tbat every candidate should be a living exponent of our principles. I bulieve tbe People's Party of Ne braska will feel proud to do honor to men who have an experimental know ledge of our needs. There are those who seem to believe thatthe candidates should be men who can ably represent us on the stump. Let us mako so mis takes here. Tne candidates can only be heard by a small per cent, of the people, and tbe most eloquent and con vincing appeal our speakers can make this fall will be to say, "They are honest and competent." Make a ticket of this kind of material, and it will draw Jibe a magnet every honest citi zen. As to the sixth congressional district, I must say that Lincoln and Omaha dailies seem mora exercised over our business that we ourselves. I know of no one in the sixth district who questions tbat the People's Party candidate if judiciously chosen will represent tbe clstrlct In tbe next con gress. I baneve i am safe in saying wnue there are those who favor a new man as a candidate a very large per cent of our voters are very uncertain as to the advisability of allowing Mr. Kern to re tire at tnls tlmo. Ordinarily I believe a two term policy to be the safest for individual, for party, and for country, but Air. Kern's con nection with politics In the district has been peculiar. He has been obliged to fight agalB&t great odds the organized monopoly press of the entire state. Only recently, anticipating Ms re nomtaatlon they have charged him wltb dishonesty la the treasury of Cus ter county. They have charged him with Incompetency, and finally with negleot of his constituency. As to the first charge, Mr. Kern bas made an open ohalleage, that should either J 'ng to light his wrong or silence aem. As to tbe beoond charge, I hear no complaint in his district that he has voted wrong, uorrect voting stamps a man t&day as above the average con gressman, our people nave lost confi dence In promises and are now watcn- leg ibe roles. As to tne third charge; it ii simply wanton. No man coula have seryed bis people more faithfully. No man in the state knows butter than Mr. Kern tba privations and hardship of western life. He made his famous campaign against Djrsey with scarcely a hope of bUCCUbS. He travelled over the "Big Third" in every kind of conveyance aud shared the hospitality of the farmers in every kind of abode. He led our cause to victory, lie has not brought to his party tbe b'ush of shame. He has a warm place in the heart of the people of his dint riot. In these days when all men are anxiously saying, ' What is coining uexi?'' we rounwnh.-r that Kem was one of the first to sound a not of warning. I speak of these tfalog in thlsoouarotlon because Ifrel Indignant at the unfair means twlng resorted to to nre iud loo the people of Mr. Kem s dis trict against bira. It is not Kem they are after, it U his scat in Congress, aud tt is my ludirnient u.ey woulu, at soon Kem was lhr as auyoody If they could make a tool ol bun. I am not tpeaktof for or against Mr hem's nomination, We do iot owe him a uotuluaUou, ab4 i a u cvruU hs would scorn tno thought; bat th ptHipU of the sUttt d Uttlcl have right lo dmaad that tbe was who U nominated shall beoaa wbo knows what II is U eara a living by tbe sweat of aa honest brow, i nave mi word against any pro tctunl ma but ha ued tor taem In positions for wtlch thslr calling baa sproiviy Bttod tniu, Thrw is no party disMbstou that J now f la tuo siitu district, and tf Mr. Kiu rs'lrta this tall it w; witb the enjoyment of tb ful!M connd'nc ail onty tt his parly, but wl lbs eiwlt of h'l euum district NrnsVor Vr, A. Stowirt of Siout county would ovriaUly b Ida chok of this o.-iat aud I NUt of tttct nilru north wniU ca Mr. Ksiu should (or any reason not b a caadldaU. V ours for rights a uittans and Vl:Urj Stan tad. uuoMlu LINCOLN, NEB., THURSDAY, MAY 10, 1894 LD ERROR UNVEILED What PrevenU Regularity of Work and Oommeroial Oertainties, WHY SUPPLIES EXCEED DEMISE'S. Inequlubla Obligations Which Regularly Cause Failure, Liquidation and Cessation af Work. The Cauae of Financial Panics. fWs reprint below, from Ths Arena, part of tbe maul valuable article which has appeared for ears in any of the magazines, an article entitled, "Tbe Cause of Financial Panics," by Mr. J. It. Iltanett of tit. Louis. We sball five our readers mere of it in succeeding issues of Ths Wsalth Uakum, Preserve tbe mpers containing wbat we print of it and give brn widest circulation possible. Tbe second and third Instalments will get down to tbe base of tbe evil, and will contain new argument and trutb.-EDiTOR Wialth Makkus f (Continued from last week.) The lender sacrifices nothing. The wealth which he loans is surplus wealth. However potent as an instrument of production In the hands of other?, It Is useless in his, for his hands toll not. This fact must be borne in mind: Un less somebody borrow the wealth of the capitalist, he must stand by and see nature steal away its usefulness. Then the person who borrows tbat wealth and saves it from the decay of nature does the capitalist an all-Important service, It is no answer to say thatthe laborer, at the same time, gains a per sonal advantage from tbe wealth which he borrows. Does the laborer's gain make the capitalist's gain the less? Capital cannot produce, labor can. Labor has lived without capital, with out wealth except the strength of its muscles. With this strength alone to start wltb, labor has wrested from na ture all that there is of wealth la the world today. Destroy every vestige of what men call capital, and enough peo ple would survive the calamity to re populate the world and reorganize society; destroy the power to work, and in a decade there would not be a Hying human being. Nobody who considers what man has sprung from will deny this. Man did not come into a world of walled cities, palaces, and machines. He was once a shivering, naked savage, his imple ments clubs and stones. His bread he plucked fiom the trees by labor; his meat by labor he pursued and killed. Man always earned his bread by the sweat of his brow or the brow of some body else. Labor hes the producing power of nature, capital the decaying principle of wealth. Why, then, can it not be confidently asserted that labor, aside from nature, is the only productive force? Labor oan put its stamp on the treasures of nature's store house, and tbe produot is wealth. Na ture will not receive the stamp of capi tal. There asks: "Will an extra crown appear In a bag of one hundred shill ings at the end of a year? Will there be two hundred shillings in the bag at the end of fourteen years?" No, nor any extia grain la a bag of corn (Bao tlat to tbe contrary notwithstanding).. Herds will not increase without labor care; fields untllled will not yield a harvest. Nature's favors must be wrested from her b th arm of toll. Where, then, Is the Juitlfloullon of In terest? What ground has one for assuming that wealth ht the power of growth, or that its pressor Is entitled to an increase? If wealth does not grow there is no ethical bal for Inter est. It U a law at old as the world, that what a man products Is, primarily, hi. The converse must W true: wbat a man dot s not produce i not primarily hi. To become his it must he given to htm frwly, or ho nnut secure It by fading for U that which h has pro duced. On this basis, Interest din not belong to tba capitalist, for he neither product it aor give for It anjtolag which h ha produitd II cannot, for the captiaUl, a such, produce noth tog. Ills capital did aot produce It, tot capital csBBOt even maintain iUelf. lt us allow the greatest! of ) terest himself to toll the advantage the capitalist has rvr the laborer, ead thta sttutlae hi reaves as to why It Is right. These are HaMtet' word: Usre ale to me a One of Uieui work from iroinlng uatll night, front one year's tad to auotHer, aud, If be eontuutst all that which he has gained eve by superior energy, she remains poor. When Christmas comes he it no more forward than he was at the begin ning of the year, and hae no other pros peotthanto begin again. The other man does nothing eltber with bit bands or with his head; or, at least, if he makes use of them at all, it it only for hit own pleasure. It it allowable for him to do nothing, for he hat an in come. He does not work, yet he lives well! he has everything1 la abundanoe delicate dishes, sumptuous furniture, elegant equipages: nay, he consumes daily things which the workers have been obliged to produoe by the sweat of their brows, for these things do not make thimstlves, and, as far at he is concerned, he baa no hand In their pro duction. It la the working men wbo havi caused the corn to grow, polished the furniture, woven the carpets. It It our trivet and daughter! who have tpua out iind embroidered these stuffs. We work for him, for him and ourselves; for him first, and for ourselves if there is anything left. But here Is some thing more striking still. If the former of these two men consumes within a year any profit which may have been left him In that year, be is always at tbe point from which be started and hit destiny condemns him to move in cessantly In a perpetual circle and monotony of existence. But if the other, tbe Vent! man,' consumes bis income within a year, be has the jear after, in those years that follow, and throughout all eternity, an lnoome equal, inexhaustible, perpetual. Capi tal, then, is remunerated, not only once or tshce, but an indefinite number of times. So that at the end of a hundred earl a family which hat placed twenty housand francs at five percent. Interest will pave one hundred thousand francs, and this will not prevent it from bavin? one hundred thousand more in the next century. In other words, for the twenty tboofand francs which represents its labor (or the labor of some one else) it will have a ten fold value In the labor of others. In this social arrangement is there not a monstrous evil to be re formed? " ""- - "Abd this Is not all. If It should please the family to curtail their enjoyment a little to spend, for example, only nine hundred francs Instead of a thousand, it may, without labor, without any labor, without any other trouble tban tbat tbat of Investing the other one hundred francs a year, increase its capl tal and its income in such progression that it will soon be able to consume as much as one hundred families of pro ducing workers. Does not this go to prove that society is nuralng in its bosom a hideous cancer which ought to be removed at the risk of some tem porary suffering?" Yes, Bastlat! it certainly does,, and your illustrations of planet and ships and corn, although they may obscure tbe seat of the terrible disease,, cannot hide its manifestations. The skilled social physician can see through your tbin mystification. You assert that the twenty thousand francs represent tbe labor wblob tbat family has per formed. This may or may not be true: many of our modern fortunes represent the labor of others. But,, granting tbat it does represent tbe labor of the head of that family, on what ground of right or justice should that labor be remune rated more than twenty thousand francs worth of the labor of other eltlaens? Why is it more worthy of return tban tbo labor-produced wealth which ha gone to support the laborers and their famllles The worker's strength must be kept up by constant feeding. The wealth represented by twenty thounand francs is almost as perishable; it must also be kept up by constant action. Tbe labrrer produces more wealth with the strength which he absorbs from the focd which he consumes. Tbo owner ol the twenty thousand francs, an such, produces no wealth; neither do tbo francs. It them He In a vault and they would not Increase a jot for all eternity. Store the real wealth rep resented by them and you would have nooo of it left at tho end of a score of years. Why, then, shtoild we reruune rato the owner of the twenty thousand francs, not for one year alou but for all ewrohy, while we remunerate the laborer but onu? Hut we go further, and not only compel the laborer to make god to the owner of the twenty thousand francs, the ravage of naUre, but also to pay him a hundred fold for what he produced, Inherit), or pol bly obtatavHl by fraud or force. Why should we plae such a prnulam on the savli g of walih and reward Its production so little." My ttat very oc lloa wt assert that It 1 nore to the ed vantage of humanity to hate wtalth hoarded than pioducd or used. We y tMhe wotld; "Uu who haveiawd even so touch, as a tahorsr prod aw twry tee year tf hi active life, ran live all the rest of your days In ld! ae it you so desire, and your etilMrvii's children may do Ihesaino, Its who h a t tft a fortunate enough to save must divide with yet his substance, even to keeping you In your idleness. He mutt toil unceasingly, and when he shall have been gathered to hit fathers, hit children after him mutt toll; and a por tion ef everything which he produces Is yours, by the right which your saving gave you. And be must not be niggard- y about feeding you: your share shall every fourteen yean equal your origi nal saving, and yet your fortune shall never grow lest. By the slmplo aot of saying an amount Insignificant aa com pared with what a laborer produces during his lifetime, you have removed from yourself and your posterity the ourse of humanity 'Man must earn hit bread by tbe sweat of bis brow.' Or perhaps your father bat done It for you; perhaps an uncle, perhaps a more dist ant relative wbom you never taw, hat left a small amount of perishable wealth In tbe world, and by that act saved you forever from the necessity of laboring, made you a sharer la the results of others' toil." Te the man who produces unceasingly but cannot or does not save we say: "You must stay nature's destroying band. The substance of the capitalist is sacred; see that you preserve it. Keep it replenished after the waste of time and besides give him all that he requires to live on. Then, if there is anything left, you may take It as your own. Hoarding, you must remember, exempts from your toll; more produc ing gives only the right of sharing that production with those who toil not." These are the speeches which we act out when we sanction the practice of in terest taking. Ne questions are asked as to how the wealth was hoarded; it makes no difference. Its possessor la virtually pensioned for all time aad billeted on the community. Interest rewards capital ad Infinitum. It la wrong. If for producing twenty thous and' francs the laborer is remunerated but once, twenty thousand francs which represent the capitalist's earnings or accumulations, should gain for the capitalist but one remuneration. All men have equal rights. Bostlat has well said that things do not make themselves and tbat tbe capi talist baa certainly no band in their making. He might have added that neither did the wealth which tbe capi talist bad saved produce these things. Leave it unattended and It could not keep itself from destruction. The capi talist hat no right, tbeor to take these things from others. The wealth which he produced bat disappeared years ago under the inexorable law of nature, yet he is still living on. What an anomaly ! Can oa eat hi cake and have It too? The capitalist does, but he it the only example. Then it is but a trick. He steals more cako by legal jugglery from the mouths of its rightful owners, and by pretty fictions convinces them that it is his own. Better than tbe lamp of Aladdin, better than the magician's wanj.. evea better, far better thaktho the philosopher's stone, is the economic fable, by whose potent alchemy tbe pos eteor of a little hoarded wealth can multiply his gold ad infinitum and levy contributions on the generation of men to the end ol time. It is a roaglo ca pable of transmission ithout th trouble or pains of study. By its action hU posterity are made pensioner on all the generations of mon, The capi talist's wealth Is tbe fabled cup which, however often drained, is forever full; It Is the pursrt which always contains a dollar. Verily tho capitalist's scoret Is bettor than tbe power of kings. Hut Ilk all necromsnry, when un veiled, it I but tho jugglery of tho fsklng charlatan. When the wealth which he ha savtd Is gouo, he mystifies others and takes their wealth to supply ('place. It Is by others' toll that the cup Is kept full. Ha shuiMus the empty vessel into the p!ao of the brimming goblet whhh In turn he drains. Ills maglolan's wand U but tho barbarou cuttoiu of tilbute, whU'h changes not b it dlrui'U the atreaut of wealth from the hand of the lolling producer lnt the differ of tbo money bag. It ho obtained so long ttat men have for ota torcsUt It, This alt powerful h'oroinanoy Is Interest taking. It U fooo'lvl on the monstrous auinpUon that wealth ha wltMn ttwlf the uoaid ed power of growth, There Is ao rscap lag the eonclusloQ that Interest Uklr g Is wrong, Hut it Is asserted that wltbout the (TSK'tlco of litter?! taking thern would NO. 49 be no saving; tbat all capital would be destroyed, that we should be hampered in our production and retrograde to ward the savage. Does our civillaotion . depend for Ite existence on the thoroughly barbarous principle of trl- ' bute taking? Why would there be no object la saving If we could not oolleet Interest? If 1 produce more capital than I cssv use at present, and waat te save it for use at some future time, will It not be as much mine when I want to use It, If I lend It without interest as If I oolleet ten per cent, interest upon it? Tho agreement for' the return of the capital aad the paying of Interest are In : no way dependent upon each other. One can be made without tho other, I can ftt now make an agreement with the borrower that li I allow Mm to use a portion of tbe wealth controlled by me, he will return It to me at the end of a certain stated period unimpaired by the ravages of time. Interact it not a necessary part of the sgreementt and if that agreement le carried out, I shall be sure of getting back all that I have produced. This It as great an incentive for saving aa any mortal would require. He would, at now, look forward to a time of ease when he might live on wbat he has saved daring his active producing life. He would be obliged ts lend his wealth in order to save it. The same security could be required as under the system of Interest taking. -The argument of no motive for savlag -unless Interest le allowed for tbat saved, implies that humanity ia to avaricious that if one cannot get wbat does not belong to him he will not take care of what he hat. Under the system, of no Interest, he who aavdt will not get rich while be "Jollifies or sleeps or loafs or debauches, as at present. A soon aa he liee idle bit fortune will be gin to grow lets by Just the amount which he spends.. He will have all that he. produces to ute ae be pleases, but be must keep his bands off tbe pro duction of others. ' Looking at it from the standpoint of the producert, the discontinuance of the practice of interest taking would be an unmixed blessing. He would be able to' use the wealth which its owneit could not useand with It produce mora wealth At the same time be could save It for them from the inevitable ruin of nature and Increase his own substance. Ho would be released from the hard condi tions which at present to often make production unprofitable to all except the money leader. The burden on busiaesa which bow sends the eountry into practical bankruptcy every decade, and ' makes a failure of aloe ty -five per cent, of all busineia undertakings, would be emoved. The toller would not be . ( roMIged to hand over hi substance in interest to tbose wbo toll not, and would be able to accumulate a surplus of bit own, or to shorten his hours of toil. There would be no drooee among those capable of working. As soon as one re fused to work ne would begin to eat Into his capital, and even If tbe amount wblch he has accumulated were up into the millions, instead of multiDlvinir aa at present, it would begin to melt away irom tne ciuionesoi tne idler, it would be only a question of time until the for tune, However large, would be exhaust ed, and tbe idler and his desoendacts would sealn have to fake uo their bur den with the rest of mankind. The' accumulated fo tune of tne rich would be amply sufficient to suddIv their de clining years, and there would be enongb also to educate their children and give them a start In life, but they could not grow richer thn their father unless they worked and added some thing to the wealth of the world. The worthless, idle scion of a wealthy family would be a thing unknown. No fortune would be sufficient to bear for a life time ths extravagance in which the rich now Indulge, Once amenable to the benign, unsbockled law of nature, that man must earn hi bread by the sweat of his brvw, the man who In herited a fortune would gro poorer and poorer, unless be produced, until anally he would be obliged to work, beg or starve. All Idlers, rich aud poor, would be plaod on aa equet footing. Ths wealthy idler could not save htm. self by refuting to tend. It he tried to hoard his wraith, oaturo would punish Mat by destroying it all the faster, l ack man would have just what b d served-no moie. Why, then, should be not ave lie hat tho strongest motive tor laying by something; lor his declining years, aud he know that what he pioduoes wilt not be taken frvm htm by Idler, lie has tha trong estnu'tive, too, for keeping that wealth whU'h he ho laid by ia t..e beads of t'lius one who will save it for hint. Wealth cannot be hoarded. You may as well say that rulers will aot gowre Uu'.om pofiii) s.rrender ail rlfhl, Mto art that capitalists will aot save un less their savlvgs bring them a frvaUr retuta lhaa they are entitled to, ICmtVlaaed Hn Wees J