MW01UlM VV dwwv .
AN INDIANA MULLET HEAD
II Wrltei an Editorial and Snow Hl
Total Ignorance of Flnanc. Bank
ing and Commerce,
Editor Independent: As an example
of thoughtless assumption of knowledge
where only ignorance exists an editorial
in the Indianapolis News of Nov. 17tK
caps the climax. The eye of the editor
has caught the reports concerning the
stringency ia the money market and the
fact that the treasury is selling" bonds to
relieve it, and is greatly be fuddled. He
has been, for so long, filling himself full
about the "abundance of money" that, in
face of the stringency, he is in hopeless
confusion. He says: ,
"It is hard to understand how there
there can be a scarcety of money 'now."
He then proceods to state the estimates
made by the Comptroller of the Curren
cy, that the amount of deposits received
for the year 1899 is $7,513,854,307, and
then in a learned way says:
"As we showed yesterday, the per cap
ita of circulation is probably higher than
at any other time in the history of the
government."
From this he reaches the sage conclu
sion that:
"The so called stringency must, there
fore, be merely temporarily, brought
about by a demand, not simply for cred
it, but for actual currency. Doubtless
the great accumulation of money in the
treasury had something to do with creat
ing the present situation. The troul le,
therefore, is not, that there is not an
abundance of money, but that it is badly
distributed." -
This wise editor, with no knowledge
whatever of financial conditions or prin
ciples, is wholly oblivious of the fact
that he has stated in his editorial
enough to show why, under the circum
stances supposed, a money stringency
would be inevitable, if the national
banks comply with the law and the
ftfeer Vr.akS bcldina deposits keep with
in the limit of safe talking. V ,
The entire volumn of circulation is
shown by the last treasury report from
the treasury aepartment to be less wan
$1,950,000,000. This amount is tabulated
as "in circulation." By this is' meant,
that this amount is outside of the Unit
ed P'tes treasury. It includes all mon -by
held by the banks, hoarded, and in
circulation m business channels. It has
been demonstrated many times that
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tcribers. To do this we make the following .
UNEQUALLED OFFER:
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Extend your subscription one year
Send you '-The Farm and Home" one year
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TotalValue
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NO FAMILY can afford to be without The Nebraska Independent You
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club of three, save money for yourself and help to increase our circulation. The
Independent will be of particular interest and great value during tha coming
year, It will publish the call and place of holding all the conventions, state and
national. It will contain full accounts of the war in the Philippines, the war in
South Africa, the presidential campaign, and special reports of the next Congress,
which promises to be a most exciting session. Ie all these you are interested and
vour neighbor will be interested. Ask him to subscribe.
"TIE FARM AND IIDME" DICTIONARY AND ATLAS
The Apiary. Talks with a Lawyer, Around
Poultry Yard, The Question Box, Plants
and Fancy Work, Household Features.
The Comprehensive Webster Dictionary is
a work of extraordinary interest to all classes of prog
ressive people. It contains 50,000 words which is' ail
the average person has any use for.
' It also contains twelve department as follows:
1. Abbreviations
,'2. Pronouncing Dictionary
X Proper Names
4. Gazetteer of the World
5. Large Cities
6. Parliamentary Rule
7. Business Instructor
8. Social Etiquette
fl. Letter Writing
10. Use of Capital
11. Punctuation
12. Postal Ouide
It Contains 192 Paps, Handsomely Bound
ju imitation leather coven, and is especially designed
for pocket use.
Atlas of the
w the most
Remember, you gej
year, year's subscription to Farm and
mm .
for a Club of Three
New Subscribers to The Independent,
this amount is not correct Aa a fact,
there is no such amount in existence
outside the treasury. Leave this out of
consideration, and let it be admitted
that the whole 11,950,000,000 is in exisv
tence outside of the treasury, and a lit
tle calculation of the amount that must
go to the reserves held by banks to ena
ble them to do a safe business and we
have an explanation of the present
money stringency. If this editor, when
he wrote "The Volume of Trade, etc.,"
had used "bunk credits" instead of
"trade," he might have been supposed
to have some faint idea about the situa
tion. He calls attention to the enormous
depoifit account as though that would
actually increase the amount in exist
ence. It is absurd. If the banks hold
every dollar reported by the treasury
department as outside of the treasury,
they could have no more than $1,950,
000,000. It is perfectly clear that the
large deposit account must have in it
over five and a half billion dollars on
credits.
The lowest reserve national banks are
allowed by law is fiteen per cent of their
deposits. In reserve cities, these banks
are required to hold twenty-five per cent
of their deposits. No intelligent banker
can be found who will say that a fifteen
per cent reserve, if that was the reserve
in all the banks all over the country,
would be safe. If, in the aggregate, the
banks held no more than this as a re
serve, it would tie up and take out of
circulation $1,127,078,154. It would
leave in actual circulation and available
for business purposes only $832,921,840.
The four national banks in the city of
Indianapolis have on hands in their
vaults more than one dollar out of four
of their deposits. If all the banks in the
country maintained so large a reserve,
the estimate of money in actual circula
tion as stated above is too large. ' On
the basis of the estimate of deposits
made by the Comptroller, as stated in
the editorial, if all the banks receiving
depoultm reserved one dollar out of four,
it would tie up in the bank reserves
every dollar of the amount reported by
the deportment to be in circulntion, ex
cept the sum of $71,530,409,
According to 1uU estimate of the
Comptroller, there has been wilhln the
last two years an increase of deposits,
and consequently, of bank credits
amounting to almost two billion dollars.
With 'every increase of bank deposits
there must necessarily be an increase of
bank reserves. The increase of depos
its during the Inst two years would ne
cessitate an increase of bank reserves,
and take out of actual circulation an
r.ditional three .o tcur hundred million
$1.00
.50
" . 25
,25
AH For a
Club of 3
c.i :t
S2.0O JUDbUlUClS
"Farm and Home is published semi
monthly. Prominent among its many
departments may be mentioned the
Farm and Garden. Market Reports,
Fruit Culture Plans and Inventions,
the Globe, Live Stock and Dairy, The
and Flowers, The Veterinary, Fashions
1
"fifjl
it! II
1
World and City Guide, i his
corDr?heBMve and valuable book of i(t
-1
kind ever published and contains 'J4 pages beautiful
colored mans. The maps are not cheap prints- they
are printed just as finely as those in liooks 10 or 100
times its sizeare all in foi:: or Hve colors. The maps
not only cover the world in a general way, but many of
thorn are in detail, showing the most important points
in the whole world which anyone might want to find.
In addition to the maps, and possibly not less valu
able, is a fund of statistical and other facts of great
value for daily if not hourly reference. .
It Contnins 64 Pages Handsomely Bound
in imitation . leather; and is especially designed for
pocket cse.
your subscription to The Independent renewed for one
Home, the Dictionary and the Atlas al)
dollars. This learned editor, who hart
received hid economic education from
gold standard newspapers, ought not to
be surprised if, under sucn circumstan
ces, the money left in actual circulation
is equally distributed.
There cannot be much difference to
the money market or to the business of
the country, between tying up money in
the treasury and tying it up in bank re
rerves. If it must be tied up at all, it is
much safer to have it under the control
of the government The strain conse
quent upon the increase of bank credits
and bank reserves, has become so great
that it is reported that the eastern
banks have encroached, to a large
amount upon their reserves, and that
they are thus violating the law.
How long this strain can continue
without a break, or how the aggregate
of bank credits can be diminished with
out business disaster, are very serious
questions with which this nation is con
fronted. It seems very clefcr to me, that
tbey cannot be solved by opening the
way to an increase of bank credits, or by
giving the banks of the country the full
control they are now seeking ever the
volume of the currenoy with which our
people must do their business. It is
marvelous that any intelligent man can
be found engaged in business in this
country, who cannot see the danger in
providing a currency wholly under the
control of the banks, and that will be the
currency upon which the business of the
country must be done, at the same time,
establishing an entirely different stand
ard payment in gold with which all
debts, public or private, must be paid.
Flavifs J. Van Vobhib.
Indianapolis, Ind Nov. 20, 1899,
Dr. Bull's Cough Syrup cures the
most stubborn coughs, colds, and lung
affections. Even incipient consumption
has been successfully cured by this mar
ve'ous remedy. Sufferers will obtain re
lief after a few doses.
FEAR FOR BRYAN
JI Must be Careful of Hi Health, or no
Man ran Keep up Uie race he
has let.
Editor Independent: The battle of
1900 should begin now; and there should
be no "let up" until Mr. Bryan is elected.
He is already nominated, and will be
elected; but ho must be careful of his
health, for no man living can keep up the
work he began years ago and not break
down. Our friend, "the great common
er," ha? spoken during the past three
jrf &ti to more people than any five men
living or dead. Millions have heard
hira, and were pleased, because he never
rattled in the box. His enemies have
watched with with lynx eyes to catch
him slipping, but none can find a word
out oi placo.
He has earned a good long rest, and
cow we, the common people, should take
up the work and push it along until we
call him again next fall. There is plen
ty of work to do, for we must drive the
enemy to repudiate the declaration of
independence and emancipation procla
inations; to acknowledge that a war of
conquest is right; that to conquer a part
oi one small tribe (as JVlcKmley said)
will take 100,000 men. That we must
make friends of our worst enemies (En
gland); that this same nation was the
worst enemy we ever had; that Mr.
Blaine, the great republican, says that
the civil war was continued for two
years longer than necessary by the en
couragement given the south by Eng
land; that to her alone must we place
the death of '.200,000 men and the loss of
billions of money. We must crowd the
cursed English to the wall, as they tried
to do with the north in 1861 to 1865.
The republicau party must swallow this
and help England conquer the Boers or
acknowledge that they are wrong. They
call us copperheads and traitors because
we do not like England. W hen Eng
land ceases to be a nation, then I will
cease to hata the pirate nation of the
world. She ia always at war, but never
with nations her equal. Spain in her
bloody days never could equal England.
Let any Anglo loving republican cite
any barbarity of Spain, and I will cite
one twice as bloody by our loving friends
of England.
No man with any love for our country,
or for tVe boys who died for the right,
can feel anything but undying hatred
for that devil fish, England. She has
always been our enemy, and let our re
pubican friends defend her if they can.
They may with lioth branches of con
gress, and Mark Hanna, form an alliance
with England to destroy the Boers and
the Filipinos. But no party can win
the coming election on a platform favor
ing any foreign alliance or even sympa
thy enough to injure those men who are
dying to be free. We will be told that
these countries are not capable of gov
erning themselves. Ever since history
began all natious or tribes have had a
system of government, and none on
earth have been more tyrannical or
mean or vile than the English. Aa they
plant their flag on some distant coast,
they find as bappy homes as there is in
'Darkest England." Behind them are
graves, bones and slaves.
Can our great liberty-loving republi
cans point to an error in my assertions?
If they can, let us see wherein I am
wrong. If not, then they must kiss the
toe that kicked them, and crawl and
sneak up to their loving enemies and
ask them to "do it again." The rotten
party will use money to buy our voters,
and corrupt tho American manhood, but
we don't believe that a majority of our
peopla believe it right to kill men be
cause they wish to be free, nor do we
believe that we can christianize men
with a Gatling gun. If I am a copper
head because I wish every man to be
free, then I nccept the name gladly. If
I am a fool because I was one of six and
a half millions that voted for America,
that voted for the right to do our own
business, thin I am a fool surely. I am
just fool enough and traitor enough to
believe that eighty million of people can
do anything man need wish That we
can live if an earthquake should sink in
old ocean the old world. Let any repub
lican answer me if he can and show if I
am fool or traitor. Let the good work
goon. , M. M. Hau.kck.
Central City. Neb.
Converted Him
Editor Independent:--! acknowledge
the receipt of the Indejiendent referred
to, but by consultation of your books
you will find that I have been a con-
stant reader of the Independent for sev
eral years, in fact ever since its !rst
publication. The paper was given to a
mullet head republican and he said he
would read a little populism anyway as
it could do him no harm. I said, "no
and if it does I will pay the doctor bill."
The result: It made a populist. So
you see that it did him g(xd.
Yours for success,
t J. M. Vauuhu.
Huntley, Nob.
"Died for His Country"
Editor Independent:- I have just read
the account of the death of John A.
Logan killed near Manila, leading his
men in a charge. Poor thoughtless man
to go away down near China to light
against the Filipinos. William McKin
ley and Mark Hanna send words of con
dolence ir . telegrams to Mrs. Logan, to
be of goo$ cheer, for he died in defonse
of his couiitry.
John Wilkes Booth said the same. He
shot President Lincoln and ran into a
barn to hide from his persuors, who
shot him and pulled him out of the
barn before he died. They asked him
if he had any word to send to his friends
and he told them to tell them that he
died for his country.
Julia A. Jacoby,
Padua, 111. ,
Political Dps and Downs.
Short Sketches of the Political History
of Various Counties, as Gleaned
from the Vote Abstracts.
x ADAMS
In 1897 cast 3,557 votes for Post and
Sullivan. .,"
Sullivan's majority 359.
In 1898 Adams county cast 3,674 votes
for Hayward and Poynter, a gain of 117
in total vote.
All this total increase went to Hay
ward, and in addition 128 fusionists vot
ed for him, making an actual republican
train of 245, which, added to the fusion
loss of 128, made a relative gain of 373
for the republicans,
Hnvwarcl's majority 14.
In 1899 Adams cast 3,774 votes for
Reese and Holcomb, a gain of 217 over
1897. rind 100 over 1898.
Compared to 1897 the republicans
gained 90 and the fusionists 127.
Compared to 1898, the total increase of
100 all went to Holcomb. the 128 fusion
ists who voted for Hayward iu 1898
came back i:to line and voted for Hol
comb, and 27 republicans forsook thou
party because of its imperialistic tenden
cies, .
Holcomb a majority jw.
BLAWB
In 1S97 caBt 132 votes for Post and
Sullivan. '
Post's majority, i.
In 1898 Blaine county cast 108 votes
for Hayward und Poynter, a loss of 24 in
total vote. All this loss came off tho
fusion forces, and in addition four fu
sionists Ated for Hayward, making a
not gainof 32 for the republicans.
Hayward's majority, 3H.
In 1899 Blaine county cast 129 votes
for Reese and Holcomb, a loss of 3 com
Dared to 1897. and a gain of 21 over l898.
Compared to 1897, the loss of 3 on to
tal vote came off the fusionists, and 8 of
that party affiliation voted for Reese,
making a net gain of 19 for the repub
licans. .
Compared to 1898 the republicans
gained 4 and the fusionists 17 of the in
creased vote of 21.
Reese's majority 23. ,
BOX BUTTK
In 1897 cast 887 votes for Tost and
Sullivan.
Sullivan's majority 103.
' In 1898 Box Butte county cast 778
votes for Havward and Poynter, a loss of
109 in total vote. All this loss camo off
the fusion forces, and in addition 8 fusion
ists voted for Hayward, making a net re
publican gain of 125.
Hayword's majority 22.
In 1899 Box Butte county cast 939
votes for Reese and Holcomb, a gain of
52 votes over 1897 and 101 over 1898.
Compared to 1897, the gain of 52 in
total vote all went to tho republicans,
and one f usionist endorsed the Sultan of
Sulu by voting for Reese, making a not
gain of ftt for the republicans.
Compared to 1898, the republicans in
creased their vote 45 and the fusioniste
116, a net gain of 71 for the latter.
Holcouib's majority 49.
- . BOYD
In 1997 cast 1081 votes for Post and
Sullivan.
Post's majority 5.
In 1898 Jioyd county cast 839 votes for
Hayward and Poynter, a loss of 242 on
total vote. Of this the republicans lost
158 and the fusionists 84, a relative gain
of 74 for the latter.
Poynter's majority GO,
In 1899 Boyd county cast 1250 votes
for Reese and Holcomb, a gain of 175
over 1897, and 417 over 1898.
Compared to 1897, the gain of 175 in
total vote all went to Holcomb, and in
addition 38 republicans voted against
imneriahsm. trusts and the cold stand
ard, making a net gain of 251 for the fu
sionists.
Compared to 18it8, the republicans
gained 120 and the fusionists 297, a net
fusion gain of 177.
Holcomb's majority 24!. ,
Bt'RT.
In ISflTJeast 2372 votes for Post and
Sullivan.
Post's Majority 156.
In 1898 Burt county cast 'id'HEvotes
for Hayward and Poynter, a gain of 2(2
on total vote. Of this gain 215 went to
Hayward,and 47 to Poynter, a net re
publican gain of 18.
Hayward's majority 321.
In 1899 Burt county cast 2711 vot4s
for Reese and Holcomb, a gain of 342
over 1897, and 80 over 1898
Compared to 1897, the republicans
gained 270, fusionists 72, a net republi
can gain of 198.
Compared to 189H, the republicans
gained 55, fusionists 25, a net republican
gain of 30.
liww's majority 351.
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If you are in need of an elegant SUIT OF CLOTHING, or OVERCOAT, ter
yourself or your boy, this ia your opportunity to get it We want new subeeribcrH
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We got the clothing through the largest and most reliable clothing dealer ia fh&e-
city. It is our plan to give the readers of
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give the high class and valuable premiums
HERE'S THE OFFER
tfor a Club Of 20 New Sub
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we will send you this
MAN'S ELEOANT DRESS SUIT, choice oi round
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For a Club of 15 New Subscribers, pid one
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Man's
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Dress
Overcoat,
made from a trip
pie mills English
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For a Club
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A IS.
this
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For a Club of 2 New
Subscribers we will send you an
elegant Mens' or Boys' Sweatter
worth 1.00, colors blue,llack or cardi
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For a Club of 3 New Subscribers
paid one year in advance we will send you this
Boys' Knee Pant Suit,
Age 3 to 8 years, In vestee style, or 7 to 15 years in plain double breasted. Suits of
like quality ate often sold at $2.50. Colors black, blue or brewn, also Scotch mix
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For New Subscriber nd8?aw
Boys' Silk Plush Cap worth 75c, sizes in boys, 6i to 61; mens' sizes, tii to 7.
a pair of Boys' or Cilrls b;s i?i..iu , ,-.
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a pair of Boys' or Girls best f 1.75 slices. ' V,
FOR CLUB OF i NAMES :
a pair of Boys' or Girls' best $"2.00 shoes. -
The shoes we offer as premiums are furnished by Webster &, Rogers. 1043 O
street, Lincoln, Neb,, one of the oldest and most reliable shoe houses In the gtata. "
We fully guarantee them.
The above offers are good untilJanuarj 1st, 1900.
Addres? all communications and make all money orders payable to ,
Independent Publishing Co.,
Th! GREATEST.
... EVER WOE
NEBRASKA INDEPENDENT
the INDEPENDENT an opportvaUr
to solicitor for Hilary, expenses, i
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in advance we will send you
SHOES...
We make the same guarantee for tha
shoes we offer that we make for the cloth
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For Men and Women.
For new subscribers paid one year in ad
vance we will send you shoes as follows:
For Club ot 3 names
I'air Men's or Women's best 12.00 shoes..
For Club of 4 names
Pair Men's or Women's best t'i50 shoes.
For Club of 6 names
I'air of Men's er Women's best $3.50 shoesv
For Boys and Girls.
' V (1 l . ' M ! . 1 '
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Lincoln, Neb
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