mm . v The Wealth Makers and Lincoln Independent Consolidated. V,' VOL. VII. LINCOLN, NEB., THURSDAY, FEBRUARY 13, 1896. NO. 36 mm 1 A Till WITH FARMERS 'The Great Economist Gen- A Warner Tells Them Why They Are in Distress THE CAUSE OF LOW PEIOES- Hard Scratching to Make Ends Meet, Nothing for Comforts and Little to Educate , the Children Can Easily Have Dollar Wheat if They Want it. ' Every farmer understands the immense difference to him between a scale of prices indicated by wheat at a dollar, corn fifty -cents, wool twenty-five cents, cotton ten -cents, and other things in proportion, and one indicated by wheat at fifty cents corn twenty-five, wool twelve-and-a-half, cotton five and other things in propor tion to this scale; but when we asked what is it that determines whether the -one scale or the other shall prevail, he is at a loss 'or an answer. He knows well enough that the scale indicated by dollar wheat, fifty cent corn, twenty-five cent wool and ten cent cotton, would make him prosperous, and enable him to pay his debts and taxes, educate his children nd enjoy some of the comforts his hard labor entitles him to. He knows, too, from sad experience, that the lower scale of pieces for what he produces, while his debts and taxes remain the same as un der the higher range of prices, means ruin to him if be is in debt, and means hard scratching to make ends meet, if he is out of debt, and leaves nothing for comforts and little for the education of his chil dren; for when it takes forty acres of wheat to send a boy to college, as it does when wheat is worth but fifty cents a bushel, few ariners' boys will be sent to college. Now, is it not a fact within the knowl edge of all farmers who have worked farms for the past twenty years, that in that time a change in the price level of farm products equal to that here indicat ed, has actually taken place? The ques tion then for the farmer to answer to himself is, what has caused this change? Have the farmers brought it about them selves intentionally? Hardly that. The answer the gold standard men make is "improved methods of production, and consequent over-production." Let us carefully examine this explanation. What have been the great improvements in agriculturein the last fifteen or twenty years? That there have been improve ments in implements of all kinds will not be denied, but none to materially cheapen production, much less to greatly increase production. Is it not true that most of the modern agricultural machinery, such as the reaper and mower, horse rake, gang plow, sowing and planting ma chines, and many others, were all in use before the end of the third quarter of the century, or before 1875? What one of really importance, except, perhaps, the self-binder, has come into general use since 1875? Is it not also true that dur ing the period from 1850 to 1875, while these improvements were rapidly coming into use, and while products really did increase much faster than population, that prices all this time were slowly rising? This certainly is true. More over, how does it come about on the theory of improved methods of produc- tion and consequently over production, that land itself, and many things in the production of which, and in the supply of which, there has been no improvement and no increase, have, nevertheless, shared with everything else a decline in price? Finally, the bottom fact is that there has been no increase outrunning population in any of the great staples. The increase in the annual production of wheat, cotton, wool and cattle, has not kept quite up with the increase of population. There has not been quite so much wheat on the average per capita for the population consuming wheat, in the last five years, as in the preceding five years. Hence, the theory of improved methods of production and over-supply fail entirely to account for the fall of prices. Moreover, it is a well settled principle in economics that vChile there may be dis proportionate production, over-production of all things is imposs ible. That would be equivalent to saying there is too much wealth to divide. And again, as will be shown further on, while in creased production in particular things may causea fall in the price of such things or in rela tive prices, it cannot cause a fall in general prices. Nor would an in crease in the production of things gene rally cause a fall in the general level of prices if the supply of money increased in the same proportion as products. It is only when the proportion between the supply of money and commodities gen erally, changes, that general prices vary. Some other cause, then, for the recent change, in the price level from the scale marked by dollar wheat, with other things in proportion, must be looked for. If the farmer will ask himself the ques tion, "What determines prices, or what determines the relative value of things among themselves," he will find when he has answered that question he has found an answer to the main question; namely, why there has been such a change in the price of all his products, and for that matter, of products generally? What, for instance, determines the relative value of wheat and corn, wool and cot ton, cattle and horses? ' The answer, and the only answer is, "supply and demand." The general law may be stated as follows: Whatever affects the supply of a thing Govern ment interference or anything else de mand remaining the same, affects its value. Secondly, whatever affects the demand for anything, the supply remain ing the same, affects its value; or to put these two forms of statement into one whatever cause affects the relation of the supply of anything to the demand for it, affects its value. This is the law that governs the value of things as com pared one with another, and would be true whether there were much or little money, or for that matter, none at all. In other words, this law would be true under conditions of barter. We have next to show that the same law holds good as to the value of money or as to the price of commodities gen erally; and it should be understood that in using the terms "value" and "price," taht value is used to express the value of one thing as compared with something else, or the value of money in commodi ties, or, as is sometimes said, in purchas ing power.y . Bankers often use the phrase "value of money" when they mean the interest money will bring; but this is not the sense in which the term "value of money" is used in economics. On the other hand, price mean the value of a thing in money, or the quantity of money it will exchange for. With this in mind, then, the law gov erning the value of the money, that is, the quantity of commodities a given sum of money will exchange for, or which is the same thing, the general range of prices of commodities, may be given as follows: Whatever cause affects the sup ply of money, the demand for it, or. the debts to be paid, and the things to be bought and sold remaining the same, affect its value. Secondly, whatever affects the de mand for money, the supply remaining the same, affects its value. The demand for money, it should be remembered, is mainly to pay debts and to exchange for commodities. The enunciation of this law may also be put in a single form, as follows: Whatever cause or causes affect the re lation of supply of money that is debts to be paid and things to be bought and sold affects the value of money, or, which is the same thing, affects prices gener ally. If the quantity of money be in creased.other things remaining the same, the value of each unit will be lessened; or, to put it the other way, the quantity of commodities will bring more money. In other words, prices will rise and money will fall. When prices rise money necessarily falls; and when money rises grows dearer prices fall. A good way to look at the relation of money to com modities is to ask. how much money a given quantity of commodities will bring. In order to retain a clear idea of this law of. value of money, or of prices gen erally, it should be kept in mind that the value of the total volume of money does not change. If, for instance, the volume of money should be doubled, with no change in the quantity of things to be bought and sold, the double volume would simply stand agaiiiHt the same quantity of things to be exchanged for money. Each unit of the larger volume, therefore, would exchange for but half as much as a unit of the volume before it was doubled. For like reasons if the vol ume of money should be halved, other things remaining the same, each unit of the smaller volume would have double purchasing power, and consequently the purchasing power of the whole of the smaller volume would be the same as the purchasing power of the volume before it was cut down one-half. Hence we must understand that it is the units of the volume of money that vary in value and not the whole volume. The price of a thing is the number of units of money in our system dollars that a thing will exchange for. Hence, the law governing or determining price levels may bestated as follows: The range of prices generally depends on the proportion of money to debts and commodities, i. e., to debts to be paid and things to be bought and sold; and so the volume of currency re deemable in standard money, and also of bauk credits that so largely supply the place of currency, depends on the supply of primary or basis money, it follows that general prices depend primarily on the supply of standard money, or money of ultimate redemption. Consequently it is plain enough that the question of price levels is one of the relation of money volume to commodi ties. We can, therefore, have which price level we choose, that of dollar wheat, fifty cent corn, ten cent cotton, and so on, or the other level of fifty cent wheat, twenty five cent corn, five cent cotton, etc. Either of these planes can be easily enough secured. One, that represented by fifty cent wheat, five cent cotton, etc., is the gold plane of prices; the other, that indicated by dollar wheat, ten cent cot ton, etc., is the bimetallic plane. With gold the sole measure, it is impossible to have high, or higher, prices. On the con trary, prices must go lower as gold ap preciates, or grows dearer, as it is doing now all the time. With the money supply left as before 1873, to come from the mines of both gold and silver, we would undoubtedly have in time a range of prices approximating that which pre vailed from 1850 to 1873. But the gold men say that low prices are not an evil. That may or may not be true, but fulling prices are an evil al ways, for they not only increase burdens but they impede production and imperil business enterprise. Moreover, low prices are an evil, if with low prices debts are to be paid which were created when prices were high, for then earnings are unjustly taken from those who are entitled to them and turned over to those who have no right to them. It is often claimed, too, that when prices fall, what one buys costs less and therefore ho one is hurt. But in the first place debts and taxes and many other things do not change with prices, and consequently more of every thing is required to pay the same debts taxes and many other things after prices have fallen. Again things do not go down evenly. Products go first, pro fessional services, cost of education and things that can be controlled by monop olies, follow slowly. Then again, pro ducers sell in the wholesale market and buy in the retail market; and prices in the retail market often remain up long after wholesale prices have gone down. Hence, in any view of the question, fall ing prices work injustice to all producers, and most of all, perhaps, to the great agricultural class. Great solicitude is manifested in high places about the depreciation of currency. But what about the depreciation of everything else? The currency at best is not more thau 3 per cent of the entire wealth of the country. Is it nothing to have wheat, cotton, goods of all kindB all the products of labor all the things that must go to buy money and pay debts and taxes, and in the end, labor itself, depreciate as we have seen them go down since 1873? Ask the question of yourselves, and your neighbors, under which condition would this country be most prosperous, one with a general run of prices, indi cated by dollar wheat, fifty cent corn, twenty-five cent wool, ten cent cotton and labor and other things in propor tion, or one with wheat fifty cents, corn twenty-five, wool twelve-and-a-half, cot ton five, and labor and other things ranged on that scale? Well, as we have shown, the difference is one of money sup ply and nothing else. We cannot have the higher range of prices with only gold and bank promises to pay gold for cur rency. There is no getting away from the fact that the basis of our money system must be broadened by adding silver to gold, if we would have a higher range of prices for our products, or if we would prevent a further fall of prices. This is the only way, too, to provide a sound and stable currency. A. J.warneb. Gov. Holcomb ' Triumph, The American Bimetallist has a por trait of Gov. Holcorab and a sketch of his life. In the sketch occurs this para graph: The most complete victory the gover nor won was when these same busi ness men who before election were afraid that if a populist governor was elected immigration to the state would cease, organized what is known as the Million Club, the object being to encourage im migration to Nebraska. Shortly after the legislature adjourned last spring they invited the governor to Omaha and tendered him a banquet, at the same time elected him president of this club which went to show that the men who opposed him before election ap proved his official actions, and it can be truly said, as several prominent business men expressed tnemselves at that ban quet, "that Governor Holcomb is the. best governor Nebraska ever had;" and we believe his name will be a prominent one before the populist convention in St. Louis for the presidential nomination, and that when the people of this country come to know the governor as he is known in his own state, they will not hesitate to honor him with the greatest gift this country can bestow upon any one of her citizens. THEY ALMOST FAINTED Tillman's Remarks in the Senate Made the Hair Stand on Old Fogy Heads John J. Butler of Evans, S. D., sends a clipping from the N. Y. Mercury which has the following headlines over a report of Tillman's speech in the senate: Turbulent Tillman. His Maiden Speech Resembles the Braying of an Ass. Foul Attack on the President. His Torrent of Abuse Disgraces South Carolina. Mr. Butler's comment, written on the margin of the paper is, "Bully for Till man.'' Tillman referred to President Cleveland as follows: "His course has been unswerving in the absolute contradiction of his public professions and letter of acceptance. The expectations and interests of the people have been forgotten and ignored. The party which elected him has been be trayed, and its banners, which floated so triumphantly in the breezes of 1892, now trail in the dust of defeat. The practical destruction of the party has been aciomplished. "Where has this man sunk his person ality? Whom has he consulted? Whose advice has he recognized? None but that of the bootlicks and sycophants, who have crawled on their knees for the crumbs of patronage and betrayed their constitutents for the offices in his gift. "In the entire history of this country the high office of president has never been so prostituted, and never has the appointing power been so abused. Claiming to be the apostle of civil ser vice reform, he has debauched the civil service by making appointments only of those whose sponsors would sur render their manhood, and, with bated breath, walk with submissive head in his presence. "With relantless purpose he has ignor ed his oath of office to uphold and obey the law and has paid out gold instead of coin and issued bonds to buy more gold, by both actions over-riding the law and giving no heed to the interests of any but his moneyed friends I must say his owners or partners. "At the point where he was denounc ing President Cleveland he abandoned his prepared speech and lapsed into a description of how he came to Washing ton to Witness Mr. Cleveland's first in auguration and had exposed himself for four hours on the plaza of the Capitol in order to participate in the jollification over a democratic president, a democra tic senate and a democratic house; and, he exclaimed dramatically, "and God forgive me for being such a fool," The associated press said that Stew art went up to Tillman and openly con gratulated him on the floor of thesenate. That was the worst thing of all lor the staid old cuckoos. Editor Independent. ALL AGREED That We Should Get as Many Men as Pos sible to Vote the Populist Ticket- THE GREAT 0VER8H ADO WING I88UE How Marion Butler Coaxed the Silver Men to Come With the Populist Party. Vo Patriot Can Vots fox a Ooldbuf or Btraddlabng-. The following is the speech made by Senator Marion Butler before the silver congress, held at Washington, January 22: i , I wish to thank you for the honor of the invitation to address this conference. I trust you will pardon me to say a word about the party of which I havetbe honor to be a member. IVefer especially to the Wise and patriotic action taken by the national executive committee of the peo ple's party at St. Louis last week. Ap plause. When the people's party was formed it was composed of men who bad in the past been an important part of the rank and file of the two old political parties, men who bad never taken the lead them selves but who had always followed the lead of others aud who became disgusted with the record and course of their par ties and lost confidence in the leadership which they had followed. They came to cvther and formed the people's party, and wrote the Omaha platform as the declaration of their principles. The plat form is a broad, bold, manly and defiant protest against every form of organized monopoly and oppression. , . The same evils which exibted when that platform was written exists today, but in a more aggravated form, l believed in that platform then and I believe in it now. I believe that every plank in it must be enacted into law before we can have a return to a true republican form of government. But the members of the people's party have learned a great deal about practi cal politics since that platform was written. That is, they have learned a great deal about tactics and methods which it is absolutely essential to use to face and successfully contend against the common enemy. We realize today that a large majority of the voters of America are opposed to the policy of both of the old parties. Yes, a large majority of the voters be lieve that the present distress of the country has been brought about by bad aud vicious legislation, for which both old parties are equally responsible. Nbw, it is perfectly clear that if these voters can be brought together aud organized, if they can be induced to combine their votes on next November, that we can de feat the gold combine and the monopo lists and win a triumphant victory for liberty and good government. Unfortunately, a majority of the voters of the country are not ready to accept the entire platform of the people's party, but we realize that we should have no quarrel wfth a patriot who is opposed to present conditions aud who is willing and ready to join with us to right the wrongs of the people; yea, I say, we should have no quarrel with such men, because they do not believe in and agree to everything that we believe in. If he is against the policy of the two old parties, then he is with us and on the side of the people in this fight. Then let us join hands on what we do agree on. Even if we cannot exactly agree on the kind of relief needed, let us agree to fight the common enemy. Is it better for the British gold trust to rule this country, or is it better for those who are opposed to it to shape our laws? That is the question. The national executive committee of the people's party at St. Louis, after viewing carefully the whole situation, de cided that it was our patriotic duty to extend an invitation to every individual voter and to every organization which is opposed to the tyranny of national bank currency, who is opposed to the further issue of bonds as a burden upon future generations, who is opposed to a further contraction of the currency as a curse to the present generation, who is opposed to the British gold trust dominating and controlling our government in every branch, to join our ranks for the coming fight, or to hold conventions at the same time and place with us, so that we may put up one candidate for president and vice president on whom every patriot in America can unite in the next campaign. I say that when the people's party rose in obedience to the gravity and import ance of the situation and took this posi tion, that it did the wisest and most patriotic thing that any party has ever done in the annals of our history. Ap plause. The action of the people's party make it possible to defeat the gold combine in the next election. To-day you have accepted that invitation on behalf of the silver forces and thereby you have turned the possibility into an almost certainty. Applatse. If the people s party bad not taken this position a goldbug would have been elected president on next November just as surely as the sun shines on that day. Your action in accepting this invitation is equally as patriotic and equally as necessary to bring about a union of pa triotic forces and give us a chance for victory. Applause. The people's party and the Bilver forces, as represented to-day, do not by any means constitute all of the forces that will be united before next Novem ber in a common fight against a com mon enemy. There are tens of thou sands and millions of voters who are still nominally in the two old parties who will not stay in them a day longer than their national conventions are held. They love their party name and love the principles which those party names used to represent, and they are hoping against hope that the traitorous leaders of their party will be converted to prin ciples of true democracy, as represented by Thomas Jefferson, and to principles of true republicanism, as represented by Abraham Lincoln, and that their next national conventions will return to these great fundamental and basic principles of honest government. Yes, they hope against hope, because their leaders have long since been mortgaged, body and soul, to the gold combine and to organ ized monopoly. The campaign funds to run these t wo great parties have come in the past and must come in the future from those very monopolies and class interests which are today sucking the life blood of the nation. Both of these parties live on blood money; they betray and help rob the people and live on a part of the spoils wrung from the rauk and file of their own members. There are hundreds of men in congress to.day who know these facts, yet they insist on their people staying in the old parties until the next national conventions are held. Therefore, it is absolutely necessary now, for them and the people's party to form oue great movement, so big big and so strong that the people will have some place to go, where victory is possible. In short, before the old party conventions are held, it is absolutely necessary to build up this great move ment as a nucleus around which those who will renounce the actions of the next national conventions of the two old parties can rally. Let us do this, and then if the leaders of the people from the south and the west in the next national conventiousdo not bolt and condemn the work of the gold combiue, then the people at home will condemn their leaders and rally to this movement with every other patriot in the country. The hope for reform is not in the politicians or the members of congress, but it is in the people. When the people will not befooled and betrayed auy longer then the politicians will fol low the people. The delegates to the next national conventions of both of the old parties will not bolt, no matter what kind of a platform is adopted and no matter who is nominated, except in such states as the delegates know that a ma jority of the voters will bolt if they do not. Delegates from States where they think they can fool the people and whip them into line will not bolt, but go home and try to explain why the people should stand by their old parties just once more. - ' There are not enough goldbugs in the United States to elect a president. The goldbugs themselves are not the greatest danger. . It is the politicians and the congressmen who claim to be friends of the people, but who are willing to sacri fice the interest and the prosperity, even the liberty of the people, lor onice and party success. Such men are the worst enemies of the people and the most valu able agents of the gold trust, l hey do work for the gold trust that no one else can do. They have the confidence of their people at home and they trade on that confidence and betray that confid ence in the name of party when they know that the success of their party means the success of the British gold trust aud the increased poverty of the people. Let the people beware of such false friends. Had it not been for such hypocrites, such traitors, the rank and file of the democratic party and the re publican party would have repudiated both of these gold parties before now, and would have come together into one movement that would have smashed the gold trust, and prosperity would have returned to every man's door. The hour has come when people will do this in spite of their leaders whom they have followed so long and so disas trously. Before concluding, I wish to call at tention toone great, vital and important fact. I wish to call attention to it and emphasize it now, for it must be, and will be, the one great slogan and battle cry in the coming struggle between the peo ple and the gold combine. It is this, that the people can never get relief, that not a single bad law on the statute books can ever be repealed, that not a single good law can ever be passed, no matter who constitutes congress, until the people drive from the White House the agents and tools of the gold combine and organized monopoly Applause and place in the stead of such aliens, tories, and traitors, a man who is an American partiot.a man with the' patriotism, man hood and courage of Andrew Jackson. Applause. ' I say that the people can never get re lief by merely electing congressmen and senators, oven though they are pledged to stand for the right. In the first place the patronage and, the power lodged in the hands of the president is so great that too often Congressmen are bullied, persuaded, brow-beaten, not to say bribed by it. Have we not before us the humiliating spectacle of the fifty-third congress a democratic cangress in both branches, elected by, and pledged to give the people the free and unlimited coinage of silver (for there was a large majority pledged by the people for this measure), yet did not the country witness the humiliating spectacle of that congress, influenced by some subtle, dangerous and damnable influence from the White House, until that majority, pledged to stand by the people, was melted away and turned into a majority for Shylock and his greedy minions. Yes, congressmen and senators desert ed their people and bowed at the feet of the mammoth goldbug in the White House for policy aud spoils, if not for bribes. Every man in America knows that if we had had a patriotin the White House instead of the man who is there now that the last congress would have stopped the issue of bonds, that the last congress would have given the people the free and unlimited coinage of silver and would have taken from the banks the unconstitutional power which they hold now and restore it to the people's government, where it belongs. Besides, the president has the power of veto. No bill can become a law except with his consent and sovereign will; that is, it takes two-thirds majority in both houses of concress. at th pass any law if the president objects thereto, and every man on this floor knows that it is next to impossible to get two.thirds of both branches of Con gress at the same time to pass any law against the interests of the gold com- uine ana ior tne interests of the people. In short, mv friends, hr nra torn trraa. evils that a wicked and unscrupulous man in the White House can use to over come a law of congress even though the majority of congress was composed of patriots. Either one of these powers in the bauds of the president is sufficient to nullify legislation; the two together make him a dictator. Therefore, my friends, in view of these facts cold, stubborn, ugly facts how, in the future can any man vote for a gold bug for president and then expect to get relief for the people? No patriot can do it; no patriot will do it. A man who is for the single gold standard is for trusts, monopolies, combines and for everything that is opposed to good government, for everything that is fatal to the prosperity and liberty of the American people. In the coming campaign tbe issue will be drawn equally between this class of men and the people. Every voter shall have a chance to make his choice, and I believe that if we will do our duty that as surely as there is a God in heaven that when the polls close on next No vember that a majority, yes, a large ma jority, of tbe votes of American freemen will be found registered against this damnable British curse, led by British tories, and, on tbe other band, registered for the platform and the candidate which will be nominated by tbe united patriots of America in St. Louis on July 22, next. Loud applause. 'TWILL COHViRT THEM IT7M Vsarly Bvery Man In tha Precinct Is a Populist ltunHViLLE, Neb., Feb. 6, 1890. Editor Independent: I received your letter and I will say that I wish every farmer was able to take the Indefend ent for six months. I think it would convert every one of them. I wish we had a few more such editors and Aliens who are not afraid to opeu thier mouths for the right. God speed our Holcomb too. - ' I think the farmers of this country have got medicine enough so that it will operate by next fall, but don't stop give ing it to them. " ' - I am owing the editor of the Wealth maker for his paper but as soon as our hens get to laying, I will sell' eggs and pay him. I have converted almost every one in our precinct. I will do more with the Independent. Don't stop the paper. Last weeks issue is worth nearly the six months pay to me. If I had part of what old Cleveland made on tbe last issue of bonds I could pay for my paper. As I was going to Omaha last fall I met a man on the train, a republican, and railroad man. In his argument he said the railroad was losing money every day. I said to him, "what does this one car cost the company to run from Rush ville to Omoha?" I told him I knew what it brought them. I asked him to count the passengers in the car and there were fifty-two. Now figure that $12.85 a piece, which makes $606.20. That was for one car and there were three cars besides the mail car. I said to him "that is the way the railroad losses money." It is about the same way that the bankers lose money. You go to tbem to get a little money to get flour for your family. He says "I have on money, but I know of a man who has a few dollars to lend, but he wants 3 or 5 per cent a month." Ground bog case. I must have the money or my family will starve. Such a system! God forbid that it last much longer. If the dumb brutes were used like tbe poor people of this country, the bogs would squeal and the cattle bellow worse than our people do. God speed every poulist editor in the United States until we can get such men at the head of the government as Governor Holcomb, Waite and Debs. Let us wait and pray for victory this fall. May the Lord lead on to victory is my praver. T. G. Bastic. Sown on the Parson There are quite a number of republi cans in Phelps county who, last fall were ardent supporters of "Parson" Andrews better known as the "little giant of the big Fifth" who are not now so much much inclined to throw up their hats aud hurrah when the parson's name is men tioned. His lining up and voting with the gold bugs and coupon clippers is not in harmony with the people whom he is supposed to represent. Holdrege Prog ress. Burnt tha Bridges Behind Them The action of the free silver conference at Washington in declaring against the pet national banks of the two old par ties pi ices the great armyof bimetallists where there is no way to retreat. There is but one organized political party with freecoinageof silver a leading tenet, that is the People's party and into that party all bimetallists must surely go. Sledge Hammer. Mark the Difference Nebraska's two senators are antipodes of character and sentimeut. Allen is in touch with the people, believes in popular government and popular rights. Thurs ton is a distinguished ex-corpora tion attorney, believes that popular govern ment is a back number and in the truth of Vanderbilt's famous aphorism, "tbe public be damned." One is a populist, the other a republican. People's Record. k I