August 15, 1895.
THK WKALTII MAKEltS.
3
MORE HARM THAN GOOD,
It I l'lty That Trlmary Montf of Ke
rieinptlun" llosh Mioulil He Taught tha
1'eople.
So far as the cause of true and ficien
tific monetary reform is concerned.
Mr. Harvey's work for tiraetallism is
doinf? infinitely more harm than good.
As a random illustration of the perni
cious rot that is to be sown broadcast
in the published report of the debate,
take, for instance, this choice morsel;
"Mr. Horr says I am a greenbacker.
Now, Mr., Horr, there is nothing in
anything I have ever written or any
thing that I have ever said that will
justify you in saying that I do not be'
lieve in gold and silver as primary
money to the fullest extent, under the
bimetallic laws that governed it prior
to 1873. We may later discuss green
backs and their proper position in our
financial system.
""I now proceed with the question of
the relation of primary and credit
money. Credit money represents pri
mary money. If a bank issues it it is
expected to redeem it in primary
money; if the government issues it it is
expected in like manner to redeem it
It is not value, but represents value.
It is issued on the same principle that
a check is issued.
"Credit money may be issued by the
government with safety only in such
quantity as will not embarrass it in
case a run is made on the government
for redemption. If it is a government
well founded and popular with its own
people it may issue credit money to an
equal amount with the quantity of prv
mary money in its borders. If redemp
tion money is required it can float
bonds among its people to the full
amount, if necessary, and get the
primary money. It should never bor
row money from the people of another
nation. To do so is a sure indication
of monetary weakness, and if persisted
in will lead to bankruptcy. No man
can do business Non borrowed capital
over a long period without almost cer
tain risk of failure. The same is true
of a nation if it borrows from a foreign
nation. No harmful effect results nec
essarily from a nation borrowing from
its own people. When a nation, its
municipalities, its corporations, and
its people are all borrowers from
another nation their decay has set in.
And nothing but exceptional states
manship and vigorous action can save
it from financial revolution and result
ing disaster. .
"Hence a government should not is
sue credit money in quantities beyond
the amount of primary money among
its people. As to itself, it should have
no money in its treasury except for its
current expenses and improvements.
The money should be among the
people.
"We thus see that money, primarily,
is a commodity, property, a thing of
value, possessing an exchange value
with all other property; that credit
money is a title to primary money
fthis title can be stanmed on metal or
paper). And that this credit money
should not be issued to an amount
greater than the primary money avail
able for its redemption. I want to
prove this by Mr. Horr in the New
York Tribune of December 30, 1893.
Instead of reading it I will pass the
paper to Mr. Horr and state that what
he says in it confirms what I have just
said, and if it does not Mr. Horr can
check me up."
Thus does Mr. Harvey teach the ex
ploded fallacies of "specie basis" and
"specie redemption" and call upon his
opponent, Mr. Horr, to prove that it is
the true and correct theory. And such
an idea of financiering! Imagine a
bank putting out in circulation all of
both its notes and its specie, and then,
when a run upon the bank takes place,
trying to buy specie with which to re
deem its notes with another issue of
promises to pay. But what place in
his economj does Mr. Harvey's "credit
money" fill? In the course of this
same day's debate he said:
"So, money being made from a cer
tain substance, when a man goes to
the market with his tobacco to ex
change it for money, the. quantity of
money he will get depends on the sup
ply of this substance from which the
money is made, and the demand for it.
If the supply of the money substance
is large and the demand for it light,
he will get more of it for his tobacco
than if the money substance is scarce
and the demand for it great."
Then, turning a somersault and con
tradicting himself, he said:
', "When the law makes a certain
metal the measure of values, as it now
does gold, or two metals in concurrent
coinage the measure of values, it is a
mistaken idea that paper, or tokens, is
sued to represent this money, increase
or decrease their exchangable value
except in the sense that they may fa
cilitate the exchange. Mr. Horr says
in the Weekly New York Tribune of
June 19 (the paper is here, Mr. Horr):
"Paper money is worth only the value
of the money in which it is redeemed."
And Afr. TTnrr i.q ritrht T fin Tint. mfn.n
,to say that paper money cannot be
made primary money, as we may see
later, but it does not become the meas
ure of values when only representing
primary money. To be a measure of
To illustrate this in the School
I used wheat certificates and said
that these certificates issued against
the wheat in Chicago elevators did not
increase the exchangeable value of
wheat with other property. The cer
tificates represent the wheat and faci
litate business, but do not give any ad
ditional value to wheat. In fact, the
price of wheat is now lower than it
was before the use of wheat certificates
was introduced. Neither does paper and
token money representing gold, affect
rnllln nf rrnlrl nr nmnprt.tj PYrAnt. in
r . - r 1 - 1 " I- -
the sense of facilitating exchange.
They are each a medium of exchange,
but not a measure of values. Primary
money fixes the sea level of prices."
The Omaha platform demands gold
nd silver money, coined at the ratio
of 16 to land paper mouey, all full legal
tender, absolute money, clothed bylaw
with equal powers and attributes and
none of it redeemable in the other. It
further demands a sufficient volume of
gold, silver and paper money together,
in the aggregate, to properly transact
the buMiueAN of the country and raise
prices to the level they occupied prior
to the policy of contraction. Uut Mr.
Harvey says that if we had in circula
tion a quantity of paper money equal
in volume, or amount, to that of gold
and silver combined, such paper money
would have no effect upon prices which
would be controlled and affixed by the
metallic money, solely and alone. And
to make the statement of the case more
striking, he says that the government
should hold no specie in reserve for
purpose of redemption, but should
keep it all in circulation, in the hands
of the people, and issue an equal vol
ume of paper money, depending upon
the sale of bonds to obtain specie with
which to redeem its "credit money."
Again I ask: What place in Mr. Har
vey's economy does his paper money
fill?
But Mr. Harvey's theory is in con
travention of the concensus of author
itative opinion upon the subject, which
clearly emphasizes the fact that paper
money in circulation among a people
reduces the exchange value of gold and
silver coins and exerts a potent influ
ence in affixing and regulating "price."
Hon. Amasa Walker says in his
"Money Problem," page 6:
"Every paper dollar, unless a specie
dollar is held deposited for its redemp
tion, displaces gold and silver coin, and
in so far diminishes the demand for
the precious metals, and in so far re
duces their value. A mixed currency,
wherever it exists, forms the standard
of value as truly as does a coin curren
cy where it alone exists."
Cernuchi says: "Money is a value
created by law; its basis is legal and
not material. It is, perhaps, not easy
to convince any one that the value of
metallic money is created by law. It
is, however, the fact. It makes no
difference of what material money is
composed, whether it is costly or other
wise; the law of legal tender gives
value to money, and that value in
creases or diminishes in proportion as
the volume is greater or less."
Prof. McCulloch, the great Scotch
economist, and editor of the article on
money, in the Encyclopedia Britan
nica, says:
"Thus it appears that, whatever may
be the material of the money of a coun
try, whether it consists of gold, silver,
iron or paper, and however destitute
of intrinsic value it may be, it is yet
possible, by sufficiently limiting its
quantity to raise its value, in exchange,
to any conceivable extent."
Ricardo says: '
"By limiting the quantity of money
it can be raised to any conceivable
value. It is on this principle that paper
money circulates. Though it has no
intrinsic value, yet, by limiting its
quantity, its value in exchange is as
great as an equal quantity of coin. On
these principles, it will be seen, that it
is not necessary that paper money
should be payable in specie to secure
its value."
Let us hold fast to our profession
of faith." The principles underlying
the finance plank of the Omaha plat
form are sound and orthodox and in
harmony with the teachings of polit
ical economy. It is not the populists
who are heretics. Kather are they
leading the way back to the faith of
the fathers. Luther gave to the world
the hidden Bible and religious liberty.
Populists are unearthing the sup
pressed teachings of true monetary
science and preach deliverance from
financial thraldom. Stand for the
truth. It is the truth that makes men
free. , Geobge C. Ward.
Government Banks.
The entire policy of this gold ring
money trust is self-destructive, but its
own destruction follows the destruc
tion of every useful industry, as the
parasite must die when it kills what it
feeds on, perishing in its own barren
desert, a victim of the ruin it has
wrought. What is the remedy? The
simplest thing in the world. Let the
government establish banks for the
people to deposit their money in and
borrow from at barely the expense of
transacting the business. Such banks
could supply all legitimate demands
where ample security was offered to
guarantee the return, or payment of
the loan at maturity. The money
loaned by government banks would
not be wind money, such as our pres
ent bank system issues, but tangible
money, a legal tender created by the
government, together with all the gold
and silver in circulation or use by the
wealth creating power of the commu
nity. This would -create a cash sys
tem in every line of business. Bad
debts would disappear. The gold ring
would be "busted." When these gold-
ite conspirators found it no longer use
ful to corner money and business and
draw interest from industry, they
would have no further use or love for
gold. Gold is this day of no use what
ever in the realm of finance, beyond its
service as a mascot to the successful
purloiners of usury. Midland Journal.
The Uolden Kale.
Eighteen hundred years ago there
came from the despised Gallilean, the
tramp Nazarene, this startling declara
tion: "Whatsoever things ye would
that men should do unto you, do ye
tven so unto them." It thundered so
against the Jewish law; it smote so
upon the Pharisaical conscience; it so
incensed the priesthood that they said:
"Away with this fellow, he is a dis
turber," and they crucified him. One
hundred years ago three million peo
ple declared, "all men are born free
and equal with certain inalienable
rights," and they fought it out on that
line to freedom. To-day the declara
tion has been made: "An injury to one
is the concern of all." This declara
tion, though made to apply to a limited
few, we take and apply to all mankind
and shall not cease to cry out against
the injury of any, so long as we live or
any are injured. Humanity.
Grand Master Workman Sovereign
will not succeed in making much prog
ress with his boycott against bank
notes. The moment an employe re
fuses to take a bank note, that instant
will his employer discharge him. Plenty
of ignorant union men stand ready to
take the places vacated by K. of L.
men. Road.
POINTS FOR THE PEOPLE.
Pullman did not advance wages 10
per cent, after all. There has been no
increase of wages at Pullman since
the reduction of last vear.
The people's party was organized
for the purpose of reform. Its path to
glory lies right in the middle of the
road this year just the same as ever.
Mr. Carlisle is of the opinion that
all of the free coinage democrats will
be crowded out of the party. Deprived
of that element the party would be in
the fix of a bobtailed bull in fly time.
Atlanta Constitution.
Glasgow, Scotland, is said to have
the finest, cheapest and most satisfac
tory municipal government of any city
in the world. The city owns street
cars, electric plant, water works and
everything of the kind.
The bankers now threaten to bring
on another panic unl. t ' the spread of
populism can be stopped. Precisely.
And they will continue this game as
long as such power is lodged in their
hands. Down with the whole banking
system. Maine Populist.
One of the favorite expressions of
the plutes is that the free coinage of
silver would cause gold to disappear
from circulation, which leads us to
wonder vhere it is just now. It is a
fact that there is no gold circulating
and it' may be well for the gold-bugs
to explain why this is so. We know
why but we want their opinion. Non
conformist. They say that it would be uncon
stitutional for the government to own
the railroads. The men who framed
the constitution never saw a railroad,
nor dreamed that the future had such
a thing in store. They never held their
ear to a telephone or sent a message
over a wire. Isn't it about time to have
a constitution a little more up to date?
Maine Populist.
A lot on the corner of LaSalle and
Monroe streets was rented by Marshall
Field to the W. C. T. U. for ninety-nine
years at 140,000 a year. This will
amount to $3,960,000 for the term of
the lease, but if Field loans it as re
ceived at six per cent, and compounds
the interest, it will be 8040,306,137 at
the end of the ninety-nine years.
National Advance.
Edward Edwards, a former em
ploye of the Union Pacific railroad, lost
his job during the Pullman strike and
returned to England. He writes that
when he applied for a position there
he was informed that he could not get
work on railroads in England because
he had been placed on the blacklist in
America. Is plutocracy international?
National Advance.
When you deposit money in a
bank, the bank loans it, and you help
pay interest on it Every business
man who borrows money has to charge
his customers more on account of the
interest he is paying; and you can't
get out of helping pay interest on the
money you put in the bank, for the
bank to lend, unless you quit buying
things. Coming Nation.
"Congress shall have the power to
coin money and regulate the value
thereof." What does the word regu
late mean? Manifestly that the peo
ple, acting through their agents in
congress, shall have the absolute con
trol over the money of the nation both
as to its volume and material upon
which the government fiat or stamp is
placed. Weatherford (Tex.) Leader.
Speaker Crisp managed to dodge
the Georgia free silver convention. He
was forced to take a roundabout trip
to do it, but he got away all right. He
reported that he was going to Europe,
but really turned up on convention
day at Savannah, or in that locality.
The Georgia free silver people should
place no confidence in Crisp. He is a
free silver man by way of Wall street.
Southern Mercury.
It is amazing how good the-hind-
sight of the gold-bugs is. All Wall
street united in sending Horr to ad
minister the last sad rites over the
remains of Harvey, and when Harvey
had lodged the stone from his little
sling in the center of the forehead of
this windy Goliath of plutocracy, at
once went up a cry from this same
Wall street that "Horr was never any
thing but a bombastic ass anyhow."
Nonconformist
If old Rothschild should have one
of his New York subsidized papers de
clare that it is unconstitutional for
American hens to lay eggs with the
usual amount of white in them the
cuckoo papers and partisan blind
toadies of the west would be earnestly
trying to prove it a fact and would de
nounce everybody who denied it as
cranks and idiots. And they would
have just as logical a case as their po
litical stand presents at present Iowa
Farmers' Tribune.
In the norr-Harvey debate at Chi
cago, both disputants agree that money
is a measure of value and both are
radically wrong. It is a representa
tive of value, but in no sense a meas
ure. Value is measured by supply and
demand and by the usefulness of the
article. One man may have a horse
that he considers much more "valu
able" than it really is. How can money
measure the value that man places on
his horse? It may represent it, but it
cannot measure it. National Advance.
So some of the Alabama populists
are considering the desirability of
fusion with the republicans in the
forthcoming campaign! What benefit
do they expect to derive by helping to
pile up votes for the g. o. p.? The Ala
bama populists are already strong
enough to carry the state if they can
only get a fair count. What folly can
be greater than to weaken now and
play into the hands of corruptionists?
We regret to own up to it, but, between
ourselves, some populists are fools.
Coming Nation.
The republican and democratic par
ties are both opposed to government
ownership of the means of transporta
tion and transmission of intelligence.
Their chief argument is that it would
increase the already large army of
officeholders. Such an objection from
Buch a source is too funny to contem
plate in a dignified way. In fact, it is
a joke at least four miles in circum
ference. Progressive Farmer.
Ml
A MARTYR
-TO-
INDIGESTION
Cured by Using
Ayer'sSarsaparilla
Words of Comfort to All who Sutter from
Dyspepsia.
"For years, I was a martyr to
indigestion, and had about given
up all hope of ever finding relief,
ou tiio nmnl!iint nnlv Rt'emed to
o
o
o
o
o
o
Oi
o
o
grow worse instead of better,
under ordinary treatment. At
last, I was induced to try Ayer's
Sarsaparilla, and I hereby testify
that after using only three bot
tles, I was cured I can, therefore,
confidently recommend this med
icine to all similarly afflicted."
Franklin Beck, Avoca, la.
"I am personally acquainted
with Mr. Beck and believe any
statement lift may make to be
true." W. J. Maxwell, Drug
gist and Pharmacist, Avoca, la.
"I have used Aver's Sarsapa
rilla for general debility and, as
a blood -purifier, find it does ex
actly as is claimed for it." S. J.
Adams, Ezzell, Texas.
AyeteSarsaparilla
Admitted for Exhibition
o
o
o
OI
oi
o
o
o
o
oi
oi
o
Oi
oi
oi
Oi
o
oi
oi
oi
o
o
o
o
o
o!
AT THE WORLD'S FAIR JJ
oooeooeoooeooeooooooooooi
All Gold-Bogs.
Of 3,800 bank presidents we know of
but two who are not gold monometal
lists. While the heads of moneyed in
stitutions, capitalists, bond and mort
gage holders are so unanimously in
favor of having gold only as a legal
tender the producers of all the wealth
should fully understand that their in
terests and prosperity cannot be safely
intrusted to the keeping of those who
are concentrating into a few hands the
enormous wealth of this great country.
If this condition of things does not
wake up farmers, miners, manufactur
ers, mechanics and wage earners and
bring them in a body to the polls to as
sert their rights and secure their pros
perity they deserve to be enslaved.
Cincinnati Inquirer.
We Second the Motion.
John G.
Carlisle, he
Says there's a surplus In the troasuroel
'And ,
JohnG.
Carlisle, he
Knows a heap more than you and me.
If
John G. .
Carlisle, he
Says there's a surplus In the treasuree,
Then
John G.
Carlisle, he
Ought to set it out so's the folks can sea
John G.
. Carlisle, he t ... ,
Is likely right as he can be,
But,
Taint that;
To stand pat
John ought to say where the surplus 's at
N. Y. Sua
That "Honest Dollar."
There will be plenty of men like the
Cincinnati manufacturer, whose fail
ure in business was recorded recently,
who can trace their downfall to the fact
"that the banker's dollar is twice
as good as the manufacturer's dol
lar." The same is true about the mer
chant and planter. The financial ques
tion is largely embraced in the wail of
the Cincinnati manufacturer that the
banker's dollar the gold dollar de
manded in debt-payment has in
creased one-half. Albany (Ga.) Herald,
Speaking of the export of gold, a
noted financier remarked the other
day: "Whether noteworthy exports
will be made depends almost entirely
upon the amount of American prod
ucts, cereals, etc., sent abroad." Ex
actly. That has been our contention
all the time. Tay our obligations
abroad in products, and thus benefit
our industrial people. Give us an ade
quate circulation of money, such as is
not too "good" to employ labor, and
our working people will glut the for
eign markets with products, and re
lieve all this worry about gold. Pro
gressive Farmer.
The Sioux City and St. Paul ISoute
Is the Northwestern,' the only one-line
route. No transfers. No delays. Morn
ing und afternoon trains to Sioux City.
Reduced round trip rates to St. Paul,
Dututh and other places. City office 117
So. 10th Street f
HOMES BY THE SEA-
I'l I W protected by Beau
tiful Islands. Game, Oysters and Fish In abun
dance. Lemons, Oranges. Pineapples, and all
subtropical Fruits and Flowers are grown to
perfection. Climate delightful, summer and
winter. Land fertile, hlRh and dry. A nook In
CTI ORinA comparatively unknown, that
VnilVM offers to settlersand to winter
visitors advantages not found elsewhere. Seekers
after health, pleasure or profit shonld read our
booklet, sent free, by Till;: LEMO.N 11 AY
LAM) CO., Grove City, Kla.
HOMES IN THE SUNNY SOUTH.
No hot winds, blizzards, nor crop failures. Na
tural Clover, Timothy and Blue Urass. Fnel
cbesp. Coal f 1 per ton at bank. Dry wood $1.M
per cord dellvured. All kinds of frmt that grow
in this latitude. You will find ail these adran.
t aires In tbs country adjacent Calhoun, Henry
county, Mo., 12 miles from Clinton, the county
seat; population 6,000. Located on the M. K. 4
T. K. H. 70 miles southeast Kansas City. Ws
have a list of (rood farms for sale at from 910 to
S0 per acre. Corn yields from DO to 60 per acre.
Flax from 8 to 18 per acre and other crops 1
Proportion. Ws will cheerfully itlve and Inform
on required. Call on or address,
DABTUULEMKff ALUIOX,
Real Kstate Agents,
Calhoun, Mo.
1171 I I
TUB
Are You Ready
For the Harvest ?
There's only one way to get ready so that you can be mrt that you are read
-and we are ready to get you ready with the World-Beating,
MIL. '. - IS
BEST IN THE . . .
TVORLD
Because
Most Durably Built,
Lightest in Draft,
Greatest in Capacity,
Simplest In Construction.
All Competition Staid Away from
the McCormick iu the
World's Fair Tests
"We might to-day be selling a line of so-called "cheap" machines al
a price which would still be high, but prefer to sell the hiylwdlue McCormica
at a price which experience will most assuredly prove is low. Glad to show
ur friends these machines at any time. Come la and see them.
Farmers will please call on
It. HINFORD, Lincoln.
LEISVHLI) & TJtOML'EN, Hickman,
J. 1 PRATT, Itennett,
MKYKIi & KKVKIUN, Hallam,
WKLLKIt POLK & CO., Raymond,
G. W. PHTKRSON, Eagle,
Any of whom will be only too glud to show you the merits of the machines whether
you intend to purchase or not.
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
ttie 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,
Attorney s-at- Law,
1026 O St., Lincoln, Neb.
CoUsctlons mads and money remitted sams inj
as collected.
Ash . .
Eoz Elder
and
IOOAPxft!9 $3,50
All ths I.endlnsr Varieties.
100 Choirs Concord Grapevines
t2; 1.000 Kns. Mulberry. $1.15.
Bhads and Ornamentals. A
com plots I'rlee-Llst free.
Address,
Jansen Nursery,
Jefferson Co. Jansen, Neb,
Black
Locust
$1.25 '
Per 1,000.
DE LML CREAM SEPARATORS
Address, tor catalogus and particulars.
Or Thi Dc Lsvsl Stpsnsroa Co..
Ei.om, In. 7 Cortlandt Street, New York.
Broke the Record
No Cultivator aver had such a remark
able run Uim first aeaon. baJws nearly
20,000 in 1894
and tbla year will bo oreatly tacreaaad.
The C. H. D. is simply ths bsst Walking Csttltatsf
er bmss sua as fat has no Imitators. It sails at
sight For Ml bon tester In a town. Set U
tort roa buy. Writs as tot IMuttratas eiroaUr.
Deere & Co
1895.
LIQHT-RUNNINO.
Mccormick
STEEL
BINDERS and
MOWERS.
GRAY HAIR0" whiskers
Wlim linill, ,atorai eolor by nstu
TAX'S MEXICAN HAIK KKaTOBATlVC.
It rsmoTss all dandruff; stops hair frosi fallln(
eat and sorss all diseases of ths scalp. It is
Dye, and Is warranted absolutely harm lee
Money refundsd II It does not do tvsrytnlafl
claimed for It. Bent to any address on receipt oi
pries. 1.M par bottle. Full Information free.
A (rente wanted. ALLEN CO., Ill Inter Ocean
Balldlng, Chicago. 111. '
"Arnoni
titc Ozarks,"
The Land of Big Red Apples, Is an attractlrs
and Interesting book, handsomely illustrated
with Tiews of South Missouri scenery, including
ths famous Olden Fruit Farm of 8.000 acres la
Howell county. It pertains to fruit raising In
that great fruit bslt of America, ths southern
slops of ths Ozarks, and will proTS of great value,
sot only to fruit growers, but to svery farmer
and homeseeker looking for a farm and a boms.
Mailed Ires. Address,
J. E, L0CKW00D,
Kauai City, Mo.