The Wealth makers of the world. (Lincoln, Nebraska) 1894-1896, August 08, 1895, Image 3

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    HINHY CLIWS' VIIWS.
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iiniofi iin.l niHiMtii".!, ill (.r pol.l,
VVIml Ii tlonc fr polil? I-"t m
J('llatiU tltlin nn.l ilimt" pror
Hint lli mnxiinl r milHjr f ifol.l
whli-li en!Htttit ilolUr vkMh ti
irinliic n Htpraye f no! mnr limn
i'.l cpiiIi In moiipy, w hllw tlltor ct
liirlitlr .
NntU'lnir. rry lrirtjr. th "mipply
aiul ilemnntr artfumenl, it will W uf
licipnt In Mt that, for th jmt tn
year hava yrtxluci-il iin average
"mippiy" of rt,Oix,(nx), nuniTH annually,
while th "demund" for use In the art
han Won alwiut one-half, or 3,000,0H
ounce annually. With no other "tie
mnml" e.xcrpt that of the uneful art,
pold would be worth 1?hs than the cost
of production; but here It Is that tho
"demand" for monetary purposea in
tervenes, and by affording an unlimit
ed market, at a fixed price, for all sur
plus "supply" renders it impossible for
any fold to be obtained for use in the
arts at less than its money value, aa
fixed by the coinage laws. .So much
for "supply and demand."
Can the United States, alone, do as
much for silver, and maintain its value
equal to gold at a ratio of 16 to 1?
That's the question.
Mr. Clews' reasons, in their regular
order, will now be given and an answer
essayed to each:
"First Because it would be a delib
erate, dishonest debasement of a large
and ulti' te controlling portion of the
circular , medium."
Answer It would no more be a de
basement of our silver money than is
our present practice in respect to gold,
a debasement of our gold money. The
gold dollar is three-fourths "fiat," and
as silver costs more to produce than
gold, the silver dollar would be less a
fiat dollar than the present gold dol
lar is.
"Second Because universal experi
ence has proved that a debased cur
rency always drives out of use and out
of the country full-valued money, and
consequently our $600,000,000 of gold
would go to strengthen the currency
systems of other countries, while ours
would be correspondingly weakened."
A. Iaothe first place, gold money is
not only a "full valued" money, but is
a four-fold valued money. In the next
place, there is not $600,000,000 of gold
in the United States. All the gold coin
and bullion in the United States treas
ury and in all banks of all kinds, on
July 1, 1895, amounted to slightly over
8300,000,000, while there was none in
circulation and but little hoarded. If
what gold we have was to go abroad,
it would lower the exchange value of
gold money in England and Europe
and assist in maintaining the value of
silver.
"Third Because the loss of that gold
would be so much contraction of the
volume of our money."
A. The slightly more than $300,000,-
000 of gold, of which we have knowl
edge, constitutes the so-called "gold
redemption reserve" in the United
States treasury and a portion of the re
serve held in the banks. It forms no
part of "the volume of our money."
But what about that "flood" of silver
our gold-bug friends so much dread?"
Is it to be such a slight shower after
all, as not to be heavy enough to com
pensate for the loss of this gold? Be
sides all this, McClews has not proved
that we should lose the gold.
"Fourth Because when gold ceased
to circulate silver coin would fall to
its bullion value (which is now fifty
cents on the dollar,) and its purchas
ing power being thus reduced there
would be a corresponding virtual con
traction in the value of our silver
money."
A. So there's going to be no "flood."
And those wicked silver miners would
not get a dollar for fifty cents' worth
of silver, after all. That is, they would
' get a dollar coin but it would be worth
only fifty cents. But whv would it be
worth only fifty cents? The ratio of
coined and uncoined silver to coined
and uncoined gold in the world is 18
to 1, while the ratio of coined silver to
coined gold is 15 to t Why would it
be worth only fifty cents? There are
not twenty million ounces of uncoined
" silver bullion in the world. The un
coined silver is in the shape of works
of art, ornaments, jewelry, etc., and
cost more than the money value at 16
' . to 1. J
The director of the mint, Mr. R. E.
1 reston, estimates the world's produc
tion of gold for the calendar year 1804
Wealth Makers Fob; Co.,
Lincoln, Nb.
For caah, off on Ikh.Ih und nlioi
ter cUl0,r)) 04-1 OSt.
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f riitli nf ful. I, If f'lll.l
I'm miti'h r.i(Hii thfii, rn rr
(tnlf nMn t ht mnoli h-w.
Il( .tinrr, lni'tUli an. I fir'T!!
tt roln iiil. p.it f.im hcfi fnf
e.uiiuifi., liciitt thrr r lr.lf m
par with if'il.l In Uiilr Iminn rmititrln
l rutin f IV, t i I An I if Urn
t'nltn.1 f-tat ...d. lh ltl
Wtirld prthlili'tl'iii, llm il,nm,(l
pin rmw nn n llrr im wmttil iri m
rflnMii lii a ivinditi'in nf lunwlf1
ImnWrupti'T. And wtil wntild tlm
world il.i for ullvrrwurr''? 11 1 pitriMitp
ly luttbtful If llm t'lilti-il Mlr t.iul,
rei-piv lnjfl immu'p uf forplirn nlWcr
fur euliintrp at her mint. Aifam t aoks
"Why fthiiutil Ui nilvrrdolUr Ini worth
only fifty ivnt?"
"Fifth lleeauMi all our pa prr money,
tHMiuiing iindrr tli alHite rondltlon
rnliMMimlilo In allver, would fall to the
mine value a Kilver dollnr. Thtia
fre roinnge would Involva the In of
all our gold money and the reduction
by one-hnlf of the value of all our
other form of currency, which would
lie equivalent to a contraction of almut
IM) per cent. In the present volume of
circulation medium, the moHt sweep
ing monetary revolution in history."
A. Mr. ("lews and his Ilk know that
this statement is pure bosh, and they
have tested it to the tune of about Jl'J,
000,000 profits. The last batch of
United States bonds were made paya
ble in "coin," and are, therefore, paya
ble in silver, at the government's op
tion. And j'et they commanded a big
premium in England! There is no
good or valid reason, or argument ad
vanced to prove that the silver dollar
would not be worth as much as the
gold dollar, if the United States were
to accord to silver the privilege of un
restricted coinage at the ratio of 16
to 1.
"Sixth Because, if it be true, as the
silver advocates claim, that the volume
of purchasing power of the currency
controls prices, then the enormous
contraction of the volume and the
value of the currency would force a
corresponding decline in the price of
all products and also in the rate of
wages."
A. Consistency, thou art a jerreL
Note Mr. Clews' wonderful and thrill
somersault. How can it be possible
that if the number of units be reduced
and the exchange value of each unit
be reduced 50 per cent., that, never
theless, the aggregate purchasing
power of the total volume of money
can be so largely increased as to "force
a corresponding decline in the price of
all products?" Mr. Clews is either a
fool, or else he is a knave and thinks
the people are fools.
What then becomes of the "sound
money" argument, that free coinage
of silver would be repudiation of one
half of all indebtedness? Debts are
ultimately paid in products, not with
money. But Mr. Carlisle, in his cele
brated speech, squarely contradicts
Mr. Clews by asserting that prices,
measured in silver dollars, would
double. Said he:
"An actual increase in prices result
ing from an increase in the volume of
sound money in circulation is quite a
different thing from a nominal increase
of prices resulting from the use of a
depreciated currency, and no argument
upon the subject of price can be sound
that does not recognize the distinction
between them. The proposition of our
free coinage friends is to double prices
nominally, but at the same time to
have them paid in money intrinsically
worth only one-half as much as it was
before the prices were doubled, and I
confess my inability to see how this
would help anybody."
We presume that neither of the gen
tlemen would care to deny the asser
tion that if commodities have a double
price they would pay double the
amount of indebtedness they pay with
present prices.
"Seventh Because a reduction of
one-half, more or less, in the market
value of properties would correspond
ingly diminish the means from which
debtors would have to pay their debts,
and the outcome would thereforo be
universal bankruptcy and panic, the
ruin of the banks, the destruction of
the assets of the savings banks, and a
convulsive interruption of industry
arising from the inability of the peo
ple to supply their wants."
A. The answer to reason six an
swers this. Mr. Clews is unique and
solitary in his position. The stereo
typed wail of the gold-bugs has been
that free coinage of silver would
double prices of commodities and scale
down all indebtedness one-half. Hut
Mr. Clews is running a bluff and tries
to make the people believe that free
coinage would cut prices in half and
double all forms of indebtedness. Get
together, gentlemen, get together. In
his debate with "Coin" Harvey, at Chi
eago, l'rof. Laughlin said:
"The justice of to-day permitting
end bsolutlf pun paint for sal by th
Standard Glau And Paint Co., Cor
ner 11th and If St, dealer in paiota,
oils, paintar'f -applies, glass, ste., Lin
coln, Nsb.
tunr l .- of. Illation to I all T In
a tii-in r i tr iriil ! Il.i tlml fi
H fflU'S ll.i - t f I ll,ll
on it itttttti r on ti i.y-r mi.t
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.i .!,.. I Ii. it r . r .if n.lli'l
t tit..., ii, r ni ( il I t th !iinn l
Utm It r..!of. at tin ml.ii(. r.iiiii
llil.i t-.M 4 tn.'l li'tiH(nf t ! " i
lfiitn uf liilfil iUr. ttm t.SUr,
i hull i".'l.il. l tin' lu rn- l li lll
niter i.f t'i tiiiHi.in, an.l a!l tin i.'
i uf h I'ltiip'l MIk t.i ti fi'in
tilnnl bt law to ri'i'i-ltn tlirm a ilnl
lar In Hi ,iirmi'til of debt, altli.nijfh
hoi liitriiiHU'Bllr worth iimr Ihan Vi
cpiiI i-ach.
Now tin-n, ati'onlliitf In Mr lw. a
foi-flmr brniif i'it lii-rf a iii!tiilt f
uf Mirer, worth tin' world nvrr only .'
cent, and get It enlnf.l Into a I'liitinl
Mate dollar, which ha ilonl'lt Hi
piin lialiiif jiower of tli prfwut ifi'I't
ilollnr and I iflrcn Imi U to him to do
a hf pleaMa with. If he lake it back
In hi own country It I worth, accord
I n ir In Mr. ( lew, only fifty cent, a
bullion, mi that In order to make It of
any lienefit to him, ho miiit hwihI It
hre. And yet thi'Mi Ignorant foreign
era are finillshly upswing tlm fre
coinage of silver by thn United atatea,
not understanding that they would get
double value for all existing Indebted
nesa and thut they would make 3o0 per
cent on all ailver bullion they brought
here to be coined. At this point wo
are lost In bewilderment. Mr. Clews
says that tho dollar that is ao debased
abroad, as to bo worth only fifty cents,
is so valuable in the United States that
it will buy twice aa much a the gold
dollar. Mr. Carlisle says that it will
buv only one-half as much aa a gold
dollar. If Mr. Carlisle is right, the
foreigner would simply have his time
and his trouble for his pains. Mr.
Clews cannot be right in any event,
becauso, if Mr. Carlisle is right and the
free silver dollar would buy only half
as many commodities as the gold dol
lar bought, we would get a gold dol
lar's worth of foreign silver for every
dollar's worth of goods we sold the for
eigner, while on the other hand, if we
coined of Mr. Clews' valuable silver
dollars "an amount equal to double
our home product" of silver, we should
have a largely increased volume of
money units of double the value of the
units we now have. What kind of
liquor does Mr. Clews drink, anyhow?
The silver forces are to be congratu
lated upon their acquisition of so pow
erful an ally as Mr. Clews is likely to
prove. The advocates of free coinage
are a unit in declaring that the silver
dollars would be maintained upon a
parity with the gold dlloar, but they
were hardly prepared to have it proved
by so eminent an authority as Mr.
Clews that by opening her mints to
silver the United States would make
the silver dollar worth twice as much
as the gold one.
"Ninth. Because, under the condi
tions cited above, our foreign com
merce would be utterly broken up; we
would be incapacitated by our internal
disorganization for importing foreign
supplies, and as foreigners could buy
our products only as far as we bought
theirs, our trade with other countries
would be thrown into the direst confu
sion." A. Nonsense. "Answer a fool ac
cording to his folly." Mr. Clews' for
eigner would come over here with sil
ver worth fifty cents in gold in his
country and buy, a la Clews, commodi
ties worth two dollars in the world's
markets. Tho foreigner has a picnic,
under Mr. Clews' patent. But accord
ing to Mr. Carlisle, et al, the foreigner
would get his fifty cents' worth of sil
ver coined into a dollar having a pur
chasing power equal to only fifty ce nts
in gold. So the foreigner a la Car
lislewould just "play even."' He
would get goods worth fifty cents in
gold for silver worth fifty cents in
gold. In the classic language of the
slums, "there's no kick comin' to no
one."
"Tenth. Because the folly and ig
norance involved in a policy of this
revolutionary character would ruin
the credit and reputation of the United
States before the world and subject
free government to the ridicule and
contempt of all mankind."
A. That is simply the opinion of
Mr. Clews. But England is eagerly
snapping up Mexico's bonds promising
to pay silver dollars said to be worth,
in gold, fifty-three cents each. These
bonds draw 5 per cent, interest, only,
yet England is paying sixty-nine cents,
in gold, on the dollar for these bonds.
Give us a rest, Mr. Clews. George C.
Ward, in Marshall (Mo) l'aople's
Record.
The finest banking system in the
world is producing a monster list of
failures; and remember that old John
Sherman said twenty-three years ago
that it would ruin all the business of
the country and the people would not
stand it Old John seems to be hang
ing on to this vale of tears to see which
wins, and it looks as though he was
still betting on the side that pays him
best Pueblo (Col.) Keform-Press.
a
All tness ars txceifent rctorm Doom
and should bs read by ereryons. Ad
dress all orders to this paper.
The Wealth Makers from now until
November 1st for only 80c. Get up a
elub.
t". .v
V '-n
Easy to Tako
M rVH A
AYER'S PILLS
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lotrv Ant t liiu. I liitr iic ltt J,
fff.iliii niiilile ritre, ami I i,
fitll lotifbli till fi-iullillirtnl I lilllt
o all iinihirlr attiii litl.'; V, A. '
WllimAt, IHM'S l al.
AYER'S PILLS
Rtflveri MiKheat Avuarrla o
. . ... . ..I. mum O
mi in nunku ruin p.
Whli h d.i mi miiitwiHH hn a ereter
earning rnpuelty. the limit Ht work r
tho dollnr Ht Interest? In !' )eni
the limn, If he ennui a tiny tnl wivn
II nil, will hiivc Sil'.'it.iHH) t.i hU credit
The iliillr. if it drawn 10 inr rent. In-
terent, and It U eom pounded every
three mnntlm. will hnve iKMiiime 114.1,
Mi:t, liin.iill.S-ji.m-J, No Individual and
no nation enn continue to pay interest
without impoverishment The rate of
inorcuMi of money t interent is so
much greater than Hint of nny other
kind of property tlint the money lend
ers practically own the world, and tho
people become sluven to the money
that should be their servant. Star
and Kansan.
The New Zealand government has
gone into road building as a solution
for the problem of the unemployed.
New Zealand isn't on a gold basis.
The men emnloved will be paid in
greenbacks, which will represent their
labor, and that is all that the people
will be called upon to redeem, and
when redeemed they will have some
thing of general use true wealth in
exchange. Under the gold basis sys
tem "money" would be hired with
which to pay the men, and the people
would be taxed not only for the money
but for interest to support the class
which had the influence to force the
government to "hire" money instead
of creating it Brockton (Mass.) Dia
mond. POPlfl-IST" VAGARIES.
A Justice of the Snpreme Court Declares
Them to lie the Only Way Oat.
Ex-Secretary of the Treasury Bout
well, writing to a friend in Washing
ton recently concerning the income
tax decision, said:
"I count the decision the greatest
misfortune to the country since the
days of secession, and with less pros
pect of a satisfactory outcome. The
attempt to amend the constitution will
prove a very serious undertaking. I
have had a part in three such attempts,
and I have the means of estimating
the magnitude of the task. It is no
easy matter to secure for an amend
ment a two-thirds vote of each house
and then a ratification of the amend
ment by three-fourths of the states.
"The power to tax through the states
is a barren power, and it must ever re
main so. Our credit in the civil war
rested upon our ability to command
the property of the country as well as
its manhood. In case of a foreign war,
with our custom houses closed, by what
means could adequate revenues be se
cured? Never were more dangerous
theories offered in argument in a court
It is possible that the minority of the
court may yet become a majority."
In forecasting the probable solution
of these serious problems, Justice
Brown casts a still darker shadow over
the somber picture he has drawn of
the situation. He declares that the
corrupting influence of wealth is more
powerful here than in any other coun
try. And he sees but one avenue of
escape from the dangers that threaten
government ownership of all natural
monopolies, of all railways and tele
graphs and other franchises properly
belonging to the public. N. Y. World.
Waller Baker & Co. Uniled,
Th Irft Minufmctunr of
PURE, HICH CRADE
Cocoas and Chocolates
On this Contln nt. hv rclrd
HIGHEST AWARDS
from th gmt
Industrial and Food
EXPOSITIONS
IN EUROPE AND AMERICA.
of th UMn4 ripr on our
goodi, eimiumrn ihoulil mk ur
lht our plftr of manulftotur,
namtlr. Dorrhvoter, MMS
m prtalxl on mcU packet.
SOLD BY GROCERS EVERYWHERE, t
WALTER BAKER A CO. LTD. DORCHESTER, NASI.
August lutb to a4tn inclusive, tne
Northwestern line will sell tickets at one
fare for the round trip. Choice of routes
from Chicago. Make your plans to go
by this short line east City office 117
Bo. 10th St Depot Cor. 8tn and S. M3
r
Are You Ready
- ; -, t - t
Vov the I larvest ?-
). mi f i i a if 1 1 l fl
. t Mf i"' if im
iu:si IN mi! . . .
WORLD
Mi! iNifnllr Itwlll,
I Ulilr.l In In ll.
tlrmlfM Id Cifitallf i
5lmplfl In iiintftMrtft.
All CVmitlHii'tt Mali. Af from
tlm lttOrmit k In Hi
World s l air Tests
V might linl tf Ixi nellitijf il lltm of mirnllivl "rlwap" hum Mne '
I jtrlr whli h WumII mill l high, Imt ftvUt to wll U rMVnili Md'uttulil
it m itl i lilili f i,rlitie will inont aiwtifiHlIf .rvn In bm. til) to itw
Mir ft lend t the. uittcUlitfi t an time, Cuu iu u4 ILciu.
r rmrri l plnm mil on
It. ItlMOItl), l lnn.ln.
I I.H.V l lttiMI'l N, lilt kiimn,
.1. V. IMC AIT. HftiMfll,
.ll'..i:it .V Nl. I KIN. Ilalliun.
UI I I.I U I'Ol li .V t., ltl4)IIIOIIll,
i. v. i'i;n:itsnN, luigto,
Any cif whom will I only too gluJ to bow you tlm im-riU ol tlm mrw-hinM wbstlief
you iiiti'tiil to piin liiiwii or nut.
The Baltimore Plan,
now practically endorsed by President Cleveland, is attracting
universal attention because it is based on the evident fact that
the currency and banking systems of the country must be re
formed. But is the Baltimore plan a reform? It gives the associated
banks the power to expand the currency and relieve the country.
It also gives them the power to contract it at will and create
universal distress for their own private gain.
It puts the credit of the government behind every bank note.
It donates all but half of one per cent of the profit on the note
issue to the banks, and it leaves plenty of opportunities for a
Napoleon of Finance to wreck a bank and leave the government
to pay the notes.
It leaves the banks free to demand the highest interest that
the several states will allow, and affords no relief to farmers and
business men of moderate capital.
Contrast with this
The Hill Banking System.
In "Money Found," an exceedingly valuable and instructive
book published by Charles H. Kerr & Company of Chicago, and
for sale at the office of this paper at 25 cents, Hon. Thos. E.
Hill proposes that the government open its own bank in every
large town or county seat in the United States, pay 3 per cent
on long time deposits, receive deposits subject to check without
interest, and loan money at the uniform rate of 4 per cent to
every one offering security worth double the amount of the loan.
This plan is not an expense to the government.but a source of
large revenue.
It secures the government amply, which the Baltimore plan
does not.
It relieves the distress of the common people, which the Bal
timore plan does not.
It protects not only note-holders but depositors, who are un
secured now and under the Baltimore plan would be still
worse off.
In a word, the Baltimore plan is in the interest of the bankers,
the Hill Banking System is in the interest of the" people.
Consider them both, and ask your congressman to vote for the
5ne you believe in.
And send us 25c. immediately for the book. "Money Found"
has no equal in its line. Address,
Wealth Makers Pub. Co.,
Lincoln, Neb.
TINGLEY & BURKETT,
Attorneys-at- Law,
1020 O St., Lincoln, Xeb.
Collections ! and mon.T remittal sains imj
as collected,
Ash . .
Box Elder
and
Black
Locust
$1.25
Per 1,000.
100 A,;VS:s $3.50
All ths I.idlnit Vnrlit!i.
100 Choirs Concord OrHntnss
f'i; 1,000 Htm. Mulberr.r. f I 15.
Kliaila and ornamentals. A
complete I rlrr-l lut Irrc.
Address,
Jansen Xuraery,
JcffiTion ('o. alaiMru, Neb
DE LAVAL CREAM SEPARATORS
Address, for ealakiffu and particulars.
Or Tmc Oc Laval StPTo Co.,
Ruim, Ilu 7 Cortland! Street, Nw York.
the Una will only look a little to the
front he will find that the democratic
party would never again capture the
free silver people. Weather ford (Tex.)
Leader.
Broke the Record
tsiin . t aurh rMtH .
i.la tut ! m iait ttMtiy
-?, Hill
'! Ma tf Wilt l. .,'f rtaMlMt4
f4 tt f i m iw'iwi ii at
Ul M H ... ! - .
MM. RmiMMNHkllNlMIMI.
i . . ritiH t i
I Here ft Co
1895.
IMI rai M ti a
ti' Wnfiit it-iff,
UOIII-WI'NNIStl
AkCOkAlICK
SII!I;L
HINDI-US-,,
AU)VI:US.
"IIOI7i
Tha Land of His; Ked Apples, Is au attnictlvs
and Interesting boos, hanilsoniel.r illustrated
with Tiews ol South Miwionrl scenerr. including;
ths famous Olden Krult r'ariu of 3.000. acres In
Howell count. Il pertalus to fruit ran u In
that (treat trait bslt of America, ths eouthern
slujie of ths Oinrks, and will nroTS of itreat Tame,
not onlr to fruit urowsrs. but to srery fanner
and homeseeker looking tor a farm and a boms.
Mailed (res. Address,
J. E. L0CKW00D,
Kamai City, Mo.
The Sioux City and !St. Taut Houte
In the NorthweHtrn, the only one-line
route. No traiiiifi'rs. No deling. Morn
ing and alternoou trains to Sionx City.
IUducvd round trip rates to St. Paul,
Duluth and other places. City office 117
So. 10th Street 1
On sale by all dru mists. Book on Heart
and Nerves sent FKKK. Dr. Miles Medical
Co., Elkhart. Ind.
Dr. Biles' Eeoedies Restore Edli
V S JS. .M