The Nebraska independent. (Lincoln, Nebraska) 1896-1902, November 30, 1899, Page 3, Image 3
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 OPPORTUNITY! For Readers of "The Nebraska Independent." We want to interest the readers of The Independent in securing new sub tcribers. To do this we make the following . UNEQUALLED OFFER: Fop a Club of Three New Subscribers to the NEBRASKA INDEPENDENT at $1.00 each, paid in advance we ' Extend your subscription one year Send you '-The Farm and Home" one year Sed you a "Webster's Pocket Dictionary" Send you a "Pocket Atlas of the World" TotalValue All for a little effort on your port. If you desire it we will send you sample copies of "The Independent" and "Farm and Home" to distribute at any public meeting or social or literary gathering. Tou can easily secure three new sub scriptions in a single evening. Can you earn 82.00 easier? Try it. NO FAMILY can afford to be without The Nebraska Independent You have read it you know its value. Ask your neighbors to subscribe send in a 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. FARM FOR SALE. A choice 80-acre farm, 3 miles uorth of Filley, Neb. l-e residence, nice or chard, etc., etc. Good neighborhood, beautiful country. Bohool within 100 rods. Addrem, W. Dbnks, 3w . ... Filler, Neb. SPECIAL FOR READERS OF 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 toTIIE INDEPENDENT, and are willing to give you a Valuable Premium ' for your effort in securing thorn for us. Show your copy to your neighbor ami ill V 1 IA7 Uiiu wouwmiiuo kv lulu uiDuwug v 4uv j, niuioi ct viuu v eaay nuwiH . of tho farmers of your neighborhood. You could easily secure aetub of five- " twonty new names. By doing so you will be helping the cause of reform, helpiag -us, and helping yourself. We guarantee the clothing to fit you, to be ef th Actual Value Represented, to give satisfaction if it does not, retain it -us at our expense and we will return your money. You have our guarantee that the goods will not be "Shoddyl" We could not afford to send ont that kmii 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 to earn the money we have been paying transportation. Wo are putting Money give the high class and valuable premiums HERE'S THE OFFER tfor a Club Of 20 New Sub scribers, paid one year in advance,, we will send you this MAN'S ELEOANT DRESS SUIT, choice oi round and square sack, or cutaway frock styles. These suite are made from 20-oas imported clay worsteds or a 22 oz blue serge, They are gems 'of the tailoring art, being out, made and trimmed equal to suits selling at 815.00 and $16.50; sizes 34 to 4G. For a Club of 15 New Subscribers, pid one year in advance, we will send yon thin Man's Extra Fine Dress Overcoat, made from a trip pie mills English jut i n $t U to 48. For a Club paid one year A IS. this Boy's Long Pant Suit, ago 12 to 19 years, made of all wool cheviots in colors, blue, black, or mixture ef brown. These suits are worth 88.00 to buy, which makes our offer a very liberal one. 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 nal, all have different striping for trim mings. , ' 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 ture, ' - 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 , ,-. . l'OK CLUB OF 3 NAMES ' , 4 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 nto tQ9 premiums-that's why we we do. v Kersey. Coat lias wide silk Telvet col lar, is Trench faced; all facings are satin piped; all seams, are silk eetTr while the 1ody linings are of the Wst J grade of Italian doth; color?, blue and Mack; true value $12.00; sizes from of 12 New Subscribers in advance we will send you SHOES... We make the same guarantee for tha shoes we offer that we make for the cloth ing offered above. . 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 ' i nr - uk w nuni.ripiiona we win eno you Lincoln, Neb v .. r -1.