IE WEALTH MAKERS
May 23, 1895
BIG MEN IN DEBATE.
W. H. HARVEY AND PROF. J. U
LAUCHLIN.
Editor mt Tola" MikM Hto
tbe Wide OpealB ot the
Silver Prof. Langhlla for
Standard.
Flea for
Mats to
the Gol4
Chicago. May SO. Last night at the II
llnols club house Prof. J. Laurence
Laughlln, of the University of Chicago,
and W. H. Harvey, author of "Coins
Financial School," debated on the sub
Ject: "Reaolved. That the United Btatea
should enter at once upon the free coin
age of diver at the ratio to gold of 16
to I, Independent of the action of any
other nation."
There was a great deal of disappoint
ment that the club house could not hold
more people, because hosta of citizens
ought admission. But the club con
fined the attendance strictly to Ha own
membership and about 200 Invited
guests, prominent hanking and busi
ness men and men that might be se
lected by Prof. Laughlln and Mr. Har
vey. Mr. Harvey opened the debate. He
said in part:
"The first reason why I am in favor
of independent action by this country
is that we should not be subjected to
the influences of the governments of
Europe. If people can be reduoed to
poverty and the prosperity of the
United States can be ruined by hang
ing to the financial policy of Europe,
then we can be reduced to the same con
dition by financial legislation as a war
of conquest would reduce us. The
monometalllsts mostly say or admit bi
metallism would be good if we could
get International bimetallism. In
other words, they agree that there Is
something radically wrong, but olaim
that we are tied to the financial policy
of Europe." This Mr. Harvey denied.
He went on: "The governments of
Europe are plutocrats. They squeexe
the lemon fdr the people about every
so often. The few control class legis
lation and the masses are hewers of
wood and drawers of water for the titled
few. Now, if financial legislation Is one
of the classes of class legislation by
which the many are robbed and the few
are enriched, then It Is one ot the insti
tutions of the European governments
that we as a nation of people, repub
lican In form, should declare our inde
pendence of. That is the first reason
why Independent financial action
should be taken by the United States.
If they say, "We must have the same
money that they have In order to carry
on business with them," my reply is
"that the biggest business we ever did
carry on with the balance of the world,
and particularly Europe, was the time
when they had gold and silver as money
and we had neither. This nation can
have an independent financial system
without say reference whatever to the
balance of the world, and can carry on
its own commerce by ocean and by
land with the other governments of the
world notwithstanding.
We give them our wheat and we take
their silks, and the balance that we
may owe them or they may owe us will
be settled Just as the merchants be
tween the importing points may agree
to settle It. They can settle it in gold
for so much a pennyweight as measured
in the money of their country or our
country, or In so much silver or so much
copper, or so much of any other mer
chandise that may be agreed upon be
tween them in their trade relations.
There is no such thing as an interna
tional money.
"Growing out of a long accustomed
habit the men who have studiously cul
tivated class legislation for their bene
fit have Impressed the common masses
with certain apparent fixed principles
which they are to be controlled by, and
one of them Is the necessity of interna
tional money, Just as they have made
you believe that national bank money
was necessary. Now, the reason be
hind that Is this: They can go to Wash
ington and hypothecate their bonds,
draw the Interest thereon, get a loan
on these bonds to 90 per cent of their
face value, without paying any inter
est, to loan it to you at from 7 to 12 per
cent This is a soeclal privilege. And
we have learned not to blame people for
doing these things. But we should. It
should be a common country conducted
for the benefit of all the people."
He defined the position of the silver
ites thus:
"What we are contending for is the
opening of the mints to the free coinage
of silver (they are now open to the free
and unlimited coinage of gold and have
never been closed been closed to that
metal) and the establishment of bimet
allism on those simple and fixed prin
ciples adopted by those statesmen who
had In view the Interest of no class, but
of all the people. What we want is bi
metallism. And sclentlflo bimetallism
is this: ;
First Free and unlimited coinage of
both gold and silver: these two metals
to constitute the primary or redemption
money of the government.
Second The silver dollar of 874
grains of pure silver to be the unit of
value and gold to be coined into money
at a ratio to be changed if necessary
from time to time if the commercial
parity to the legal ratio shall be affected
by the action of foreign countries.
Third The money coined from both
metals to be legal tender in the pay
ment of all debts.
Fourth The option as to which of
the two moneys Is to be paid In the
liquidation of a debt to rest with the
debtor, and the government also to ex
erclse that option when desirable when
paying out redemption money.
"Silver is token money. It has been
deprived of that unlimited demand It
enjoyed prior to 1873. We would restore
to It that unlimited demand. We would
open the mints to it again. We would
leave the ro'-ts open to gold as they
are now. We would give sliver the
same prlvillges as gold. Restoring to
it this unlimited demand would cause
the value of silver to rise as compared
with gold. This is what we want. This
la what we would do. We would again
make the standard silver dollar the unit
of value as It was before 1873. It would
thus be a dollar, and the bullion in it
would be worth a dollar, as the number
of grains of bullion In a dollar would
have the right to walk into the mint
and be coined into a dollar. No man
would take less for it when he could
have it coined at pleasure into a dollar.
We would make gold coins of the value
of so many silver' units or dollars, as
the law existed prior to 1873. Sliver Is
the people's money. Gold always wa
and is the money of the rich. We would
make both legal tender in the payment
of all debts. We would repeal the law
of 1173 and the Sherman law of of 18M.
authorizing contracts (bonds, notes, and
mortgages) to be taken payable in gold
only. We would allow no discrimina
tion to be made between the legal ten
der character of the two metals. We
would allow no private Individual to
dictate to the government what its le
gal tender money should be. We would
place the white metal on an equal foot
ing with the colored metal without re
gard to previous condition of race or
servitude."
Talking of the folly of a single gold
standard, he made this point: A
corner on beef can not seriously threat
en the health of the people of this na
tion so long as mutton and pork are in
competition with beef. A corner on gold
could not, as it does now, seriously
threaten the credit of this nation if
silver were in competition with gold as
primary money." -
Attacking the recent issue of bonds
by the government, he said: "The bank
of Rothschilds in England is now be
hind the United States treasury. They
are our financial agents, our financial
managers. We are paying them the
princely salary of $8,000,000 for each six
months of their valuable services. We
are now In the hands of the pawn
brokers of Europe. We are a debtor
nation and our people and corporations
are heavily in debt to the people in Eng
land, and the Interests on what we owe
them amounts to annually about 8260.
000,000, payable in gold. They demand
gold. The contracts call for itln gold.
To pay this we have a balance 3ue us
In trade with Europe of about 1100,000.
000. That leaves $150,000,000 still left to
pay them. How do we pay it? We pro
duce about $40,000,0000 In gold yearly.
We give them that This leaves about
$100,000,0e0 still due them. How do we
pay it 7 Out of our reserve stock of
gold. With them getting all our money,
represented by the balance due us on
exports, and all our annual production
of gold, and $100,000,000 annually from
our reserve stock of gold, how is long Is
our reserve s tock of gold, how long is
are we to replenish it? There is only
ne way that is to borrow it from those
who have it and that means England.
And that Is what we are doing. That
means more Interest, more gold annually
to be paid to England. Where will it
end 7 It means the "dismal swamp"
and "hell's half-acre" beyond. This Is
what having a gold standard means."
Closing his arguments, he declared:
"The remonetlzatton of silver would put
our manufactories at work. There
is only $1,400,000,000 of sliver In the world
that is not In the coins of the establish
ed government. It would be the very
best thing that could happen to this
country if we could trade what is
claimed to be $600,000,000 of gold In this
country (but in truth less than $400,-
000.000) for all the silver of the world
He declared the governments of the
world were waiting for the United
States to act, ready and eager to fol
low, in the restoration of silver to its
proper position. He closed: "If an un
due and unrighteous Influence by
schemers and tricksters abnormally en
hances the value of gold so a commer
cial parity at 16 to 1 cannot be main
tained, then do as our forefathers did,
change the ratio, and make the change
In the weight and size of the gold coins.
Monroe and Jackson did it. They were
not called dishonest for doing so. They
were legislating in the interest ot the
people and not in the interest of the
favored few. We are not compelled to,
keep the legal ratio at 16 to 1; we can
change It to 20 to 1, If necessary, to fix
the legal ratio to correspond with the
ommerclal ratio, but If the change is
made let us make It in the rich man's
meney. To lessen the size of the gold
coins makes more dollars. To Increase
the size of the silver coins makes less
dollars. A parity at the same ratio is
practicable as admitted by the expert'
ence of ages. This is what we ask. ;
"This is a question of capital on one
side and humanity on the other, ot
sound money the sound of the clod on
the coffin on one side and sound money
the sound that has the- honest ring of
the people's money in It on the other
side. It is a question of an English pel
icy or an American policy. Which shall
ltbe7."
fixed rate of wages or salary will find
he can buy just half as much as now.
Free coinage of silver would make all
the articles of the laborer's consumption
cost him 100 per cent more unless he can
get a rise in his wages by dint of strikes
and quarrels and all the consequent dis
satisfaction arising from friction be
tween the employer and employe. He
would be able to buy only half as many
articles of consumption as he had before."
The bonded debt of the railways la
the United States Is about $8,000,000,-
000. If free coinage of silver were intro
duced it would enable these railways
to pay off their debts with what is now
equivalent to about $3,000,000,000. They
would thus be relieved of the necessity
of paying the small Investors who have
taken their bonds one-half of what
these corporations now owe them, and
it is only a few of such corporations and
railways that have outstanding indebt
edness that has run a long time and
which could have been paid before the
period of 1873."
He closed his argument with the fol
lowing statement:
"In conclusion, extraordinary as is the
proposal for free coinage, it is in truth
only a huge deceit It was born in the
private offices of the silver kings, nursed
at the hands of speculators, clothed in
economic error, fed on boodle, exercised
in the lobby of congress, and as sure as
there Is honesty and truth in the Ameri
can heart it will die young and be bur
ied in the same ignominious grave
wherein lies the now-forgotten Infant
once famous as the rag baby. Free
coinage Is greenbacklsm galvanized in
to life. That heresy in its old form of a
demand for more money has already
been laid low. It will not long deceive
ur In its new f ormof a demand for mora
silver, for silver fiatlsm, nor In any
other respect is it . what it presumes to
be. It is not a predecessor for bimetal
lism. It is a wild leap In the dark for
silver monometallism. Under the cry
for more money are veiled the plans
of a giant syndicate of mlneowners and
speculators, who have hoodwinked the
people in certain parts of the country
and who are still diluting them with a
specious arguments for more money,
and are laughing in their sleep at
constituency so easily gulled.
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Poems Breathing of Love
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Songs of Nature and tbe
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William Cnllen Bryant.
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Being a Superb Collection
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It Educates the Children, it Entertains the Visitor, it Delights Everybody,
Both Young and Old.
Prof. Laughlln' Address.
Prof. Laughlln, in his answering ad
dress, spoke as follows:
"Mr. Harvey has said there was a
greater trade with Europe during the
times when there was a freer coinage of
gold and silver than since 1873. I have
turned to the statistical abstract of the
United States for 1894 and find that in
1872 the gross sum of both exports and
Imports of the United States was eleven
hundred and sixty-four millions; in 1894
fifteen hundred and forty-seven mill
ions. Certainly that statement is not
accurate." Prof. Laughlln also denied
that we paid for our foreign goods by a
drain on our gold. He made this point
"Silver has lost Its stability of value.
It is no better than ordinary metal for
stability. The action of India sends it
down 20 per cent. .The mere rumor of
the Chinese indemnity sends it up 10 per
cent. The more money there Is roaming
about in circulation Is no reason why
any one gets more of it. Money, like
property, is parted with for a consider
ation. It is only the machine by which
goods are exchanged against one an
other. No matter how valuable it is not
wanted for Itself. Do 'we Insult any
one's penetration by supposing that the
congressional kings are going coaching
about the country distributing their
money for nothing? Our farmers are
no fools. They know they can get more
money by producing more commodities
to be exchanged for it, and for those
commodities they want as good money
as any other men in the country have
got."
Of the act of 1873 he said: "Prices
since 1873 have not fallen because of
any lack In the quantity of money. Free
coinage of silver at 16 to 1, means sin
gle monometallism; 16 to 1 Is a single
sliver standard ana we win start with
all the South American countries and
Mexico. Free coinage of silver then is
absolutely certain to drive all gold out
of circulation. The mere hint of it did
that in the panic of 1893. May 1, 1895,
the first of this morth, there were $568,
000,000 of gold in circulation. Since gold
must be inevitably driven out if free
coinage of silver is had there will be no
increase in the quantity of money. If
the people who support free coinage
hope to increase the quantity of money
it is perfectly evident on the face ot It
that it will contract the currency by the
total amount of ,568,000.000. As free
coinage of silver would Inevitably re
sult in a rise of prices it would lm
mediately result In teh fall of wages.
Its first effect would be to diminish the
purchase power of all our. wages. The
man who gets 8500 or $1,000 a year as a
TRADE CONDITIONS.
The Cold Snap a Factor la Retarding
Progress In Trade. ,
New York, May 20. R. G. Dun & Co.'s
weekly review of trade, says: "The se
vere cold snap, with extensive frosts,
and in - some states snow, has fortu
nately done little damage to the great
crops, though much to fruit, but has
considerably rearded retail trade. The
best news of the week is the advance
of 10 per cent in wages by the Carnegie
works, followed by the Jones Laugh
lln establishment, and evidently imply
ing a similar advance by many other
concerns. No advance has been found
practicable in the woolen mills, where
conditions as to prices and foreign com
petition are very different and about
10,000 workers are still Idle at Olney
vllle, where the works should consume
600,000 pounds per week. In other de
partments of labor troubles are not se
rlous, and the demand for manufactur
ed products Increases.
With material and steady enlarge
ment in domestic trade there is still
great want of employment in the inter
ior for money which comes hither
$3,500,000 during the last week and with
the millions distributed by the syndi
cate on bond account stimulates spec
ulation. Accordingly wheat has risen
five cents, although the reports of in-
Jury by frost don't appear, upon sift
ing, to concern any considerable pro
portion of the growing grain. Western
receipts for two weeks of May have been
2,917,305 bushels, against 2,600,298 last
year, and Atlantic exports 3,059,484,
against 4r565,101 last year, "being re
duced by the advance in price less than
would be expected because of generally
current reports of di rease of acreage.
With only six weeks of the crop year left
the stocks In sight constitute a heavy
surplus, if not as large as some western
statisticians estimate. Corn has ad
vanced only cent, being apparently
injured more than wheat, but the acre,
age gives promise of a yield of 2,000,000,
000 bushels.
"Cotton is an eighth stronger, in spite
of the fact that 9,618,081 bales had come
into sight last Friday, which is over
400,000 bales more than the largest crop
ever recorded. Goods are in fair de
mand for the season and the advance in
prices is maintained.
"Wool was remarkably heavy for the
last week at the three chief markets,
the sales being 5,636,750 pounds, and for
two weeks of May 11,059,750 pounds,
against 11,767,750 in the same week of
1892, the last year of full demand. In
that year the sales of domestic were
5,962,000 and this year 5,681,750 pounds.
"Failures during the last week have
been 211 In the United States, against
219 last year, and 37 in Canada, aglns
24 last year."
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GILLILAN'S
Want Column.
We onlv have snace here to srlve the names of a few of the Illustrious poets whose
poems are in this book: f
Whittier, Longfellow, Lowell, Bolmes, Bryant, Tennyson, Burns, Foe, Wordtworth, Scott,
Shakmere, Shelley, Coleridge, Charles Kingaley, Heine, Swinburne, Dante, Gray, Sidney,
Halteck, Schiller, Milton and many ethers.
The famous artists of two continents have been called upon for the best productions
to grace the pages of this work. Bead the following partial list :
Allan Barraud, W. H. J. Boot, E. F. Brewtnall, JR. W.S., Frank Dadd, R.I., if. Ellen
Edwards, W. Biscnmbe Gardner, Mary L. Gow, 111., Davidson KnowUs, K Blair LexghUm,
H. GiacomeUi, W. HathereU, J. jSash.
F.
tt SALE. Neat, fire room cottage, near
school end car line, Cbeap.
T?OR SALE. Fine borne in Lincoln. All ! r
A'
and price.
FOR SALE,
car line.
FiTe-acre tract, near college and
Curap.
T7K)R SALE. Twenty acre. Good seven-room
house, barn, windmill and frnit.
TTtOR SALE. 120-acre farm, near Lincoln, im-
J.' proved, a bargain at S3a per acre.
TT'OR SALE. 320 acres, well Improved, lOmiie
L ot Lincoln, at a bargain.
FOR SALE. 160 acre, well improved, 12 mile
of Lincoln. Would take an improved 80 part
As poetry Is the cream of literature, and as this collection is tbe cream of all poetry,
this magnificent work should be possessed by every person who reads the English
language. Tbe works of the best authors are expensive. Attem pt to make a collection
of the poets and see what it will cost yon; you will need hundreds of dollars to get
hiirwoDthmiish thoiiot TOfciiioti n tVio nmrks nf nil the nnpts there is a great deal
, W 1 .. . 1 . U ,L. ... V, .... nnr4 , An4 , ha finl orotn I'fll. W Dill A tl flprt t.A fl 11 T"l t.
. . . n . , . . t Tl. 1 I ... 1. 1 , 1 . . V, nwnonn,a ".n tllO 6W'
inrougn many DUiay volumes, xjul uicim a wn k. wmich . .7
essence of all that is good the nectar without any of the dregs nil carefully selected
by a ripe scholar who has, by gift and training, the rare faculty of choosing the best,
thus assuring to the readers a rich feast. The work is most profusely illustrated.
Beautiful engravings illustrate the poems. These illustrations were engraved by 'the
jnost noted artists of America and Europe, and are masterpieces in every sense of the
word. Fine pictures of some of the most popular poets are also given. Most of the
engravings are full-page size. Each page is 8 inches wide and 10 inches long, including
margin. As a book for the center-table it is unexcelled. ,
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DOLLARS DO DOUBLE DUTY.
pay.
T70R SALE. 160 acres, 8-room
house, four
miles of Lincoln ; only f 7,000, ior abort time.
The Weatlh Makers,-
Farm and Fireside,
$1.00
.50
.-it-
200
PoeU too ALL 3 FOR $i.50-
TXR SALE. S00 acres, improved, good land.
X' ;
$2.50
near Millord, $36 per acre.
T7V)R 8ALE. Plnntatlon near
Greenwood,
Tenn., 2791 acres, homestead, cottaee, store, I
cabins, gin mill, and other bnililiUKD. living water,
timber, ricb bottom land, abont IWU ants cuiti-
vated. An Ideal stock, crniin and rotton fiirm.
Only $6 per acre for a abort time. A rare chance.
Address, The Wealth Makers,
Lincoln. Neb.
FOR EXCHANGE. Seven Improved propel
tie in Lincoln, worth $16,600, encumbrance
8.100 on Dart of it. some ot It clear, lor a good
(arm. Splendid opportunity to get good income
property.
TOR EXCHANGE. Lot and two bonnes, clear.
TAKE NOTICE!
Book and Job Printing
for land in Lancaster County.
In all its branch-.
Coal Mining; Situation.
Pittsburg, Pa., May 20. The associ
ated coal operators of this district are
courting trouble. Following up their
proposition that they would pay 69 cents
if the Pittsburg and Chicago and the
New York and Cleveland companies
men could be brought out, F. L. Rob
bins announced they would import ne
groes from Virginia and pay them 60
cents a ton. Fifteen imported men went
to work yesterday. The miners are
angry at this turn of affairs, declaring
they will have 69 cents. They are mak
ing preparations to prevent the new
men from going to work and to brin
out those now working.
F
OR EXCHANGE. 150 acre farm. Merrick
County. 6 room house, ban, graiiery, 120
acre In cultivation: all cun be cultivated; well
and fruit, fine (arm. Will take part pay in
horses and cattle, or good city property. It wil
pay you to look if np.
170R EXCHANGE, 80 acrs. well Improved, (OJ
X' 160 acres. Will pay dtavrence.
County Printing and Supplies
lithographing . . .
Boot Binding
TTIOR EXCHANGE. Good 8 room
17
house I
York, or hardware or Lincoln property.
T70R EXCHANGE. Eight room house In Bea
trice, tor Lincoln property.
T?OR EXCHANGE. Hotel building In David
17
City (or Lincoln property.
Big Cotton Mill Barn.
Methuen, Mass., May 20. Fire broke
out in Clous' cotton mill at about 1:30
this morning, and In spite of the efforts
of the departments of both Methuen
and Lawrence, from where aid had
been sent, the building was burned to
the ground. The loss will be heavy.
FOR EXCHANGE.-Klfty
Binders, (or clear land.
Davl Platform
Engraving
Of all kinds.
Blank Books
In every style.
Leiral Blanks
From the simplest style to the most elaborate.
T-WR EXCHANGE. Seven room house and
1? two lot on corner, i-loee In to bueinesn'o-u
ler Lincoln. Would conxlder improved land In
eastern or central Nebraska.
The Red Line Series, the handsomest Blank in the
country, printed on Bond Paper at less expense than
other houses furnish them on ordinary flat puper.
1
dangerous Counterfeit.
Washington, May 20. An entirely new
counterfeit J20 treasury note, act of July
14, 1890, department series 1890, check
letter A, plate number O, portrait of
Marshall, W. S. Rosecrans, register of
the treasury; E. H. Nebecker, treasurer
of the United States; small carmine
scalloped seal, has made its appearanca
in New York city. This counterfeit . is
of the pen-and-ink process, well execut
ed, and exceedingly dangerous. Th
words "United States of America, Twen
ty Dollars," which appear six times in
the border of the face of the genuine,
are wholly omitted from the counterfeit.
T-lOR EXCHANGE. Five acrwe. well Improvd,
Jl 6 room house, all modern convenience, buth.
t o wntt-r. c.ffi.. Mwe.'nir ei - , I
i h.Mi -8. w!l. wind nlll. iwn tanKx, Imii i.n
.. An lileal BUourban home Would like
iiroved lurtn ue,ir station iu ventral or eaaten
.doruska.
Stereotyping
From superior hard metal.
Printers' Rollers
All kinds of Ral Etate and Merchan
W, and would be pleaed to serve you
Made by an expert from the best and most durable
material.
Gi'l'.ilan Investment CnJCountry Printers
v
1001 0 St. (ground floor)
LINCOLN. NEBRASKA.
I That am0 .Bar can he cured wltft
Or laUeVNEBVB PLASTER. Only 15c. I
Unriiiir connty or other work, which they cannot'
tlifiiiMelvres handle, would make money by writing t --
os for terms.
WEALTH MAKERS PUB. CO. ,
- Lincoln, Neb. i
