A,
i
Consolidation of tht Wealtbmaktrs and Cb Lincoln Independent
LINCOLN, NEBRASKA, DECEMBER 7, 1899-
NO. 30.
VOL. XL
DAWES' GREAT SCHEME'
"Wild Cat Banking Based on the Plan
of
Joha Lawn I)lnseiteU by an
Old Banker.
The recent report of the comptroller
of the currency outlining the scheme of
banking which the national bankers
hate so long tried to get enacted, has at
tracted a good deal of attention. Of
urse all the mullet head editors have
Riven it their unqualified endorsement-
Dr. Hall, the state banking commission
er, who is an old banker with twenty
year' experience, was asked what he
thought about it! He said:
"What do I think of Comptroller
Dawes' recommendations looking to m-
. j ...iniio tn nAt.innal banks? J
think that he proposes that national
banks shall not only take all the prm
leges they can get but get all the priyi
they can take. They appear to be in the
saddle now and will ride fast and furious
for all the special privileges in tight. It
appears from the newspaper report of
the comptroller that the banks aro ask
, ing for the privilege of issuing to the
par value of bonds deposited, for a re
duction in the tax onlissue, for the priv
ilege of issuing credit currency and for
the establishment of a division of the
United States treasury to be known as a
division of issue and redemption.
"One to ing,I notice b as beencomuntted
and that the privilege to establish branch
banks. The last named is the one thing
more than any other desired by the na
tional banks for it would enable the na
tional banks to practically destroy the
independent state banking system.
With all the other speciul privileges
asked for, granted, such a result seems
possible. Doubtless an innocent looking
amendment at the proper time will give
this privilege too. This is probably
being kept in the back ground pur
posely for the nationals do not desire to
rouse the antagonism of the more than
8,000 state and private banks in this
eountrv for they would be a power to be
dreaded. It is readily recalled by these
1- l :t nroa Via utnrn hunks that
enabled Jackson to overthrow the old
United States bank, and it was the
branch bank privilege accorded to the
United States bank that aroused the
antagonism of the state banks at that
time.
"It would be amusing were it not so
serious to note with what utter com
placancy the Honorable Comptroller
speaks of provisions for an emergency
..-..., wvnn n utAta bank issued
?' "W' . --
that kind of currency id was ciuitxy
'Wild VOX. It ine SIBU5 uuuna c.ou
proposed such a thing now, I have no
, doubt the comptroller would have an
aggravated attack of hysteria.
"It w ill be remembered that while Mr.
Carlisle was secretary of the treasury a
bill was intioducei along somewhat the
same lines as indicated by Mr. Dawes,
providing much the same privileges for
tha national banks and Mr. Carlisle was
elated with it and gave it his hearty en
dorsement It was known as the Balti
timore currency plan. A bill on similar
lines but with much stronger safeguards
thrown around the currency issued, was
drawn up giving state banks similar
privileges, and Mr. Crrlislesuddenly dis
covered that the whole scheme was vie
ious. The bill extending the privileges
to the national banks was killed at once
and the bill drawn in the interests of the
state banks, I believe, was never intro
duced. Ite mission had been accom
plished. "Really the assurance of the national
bankers is worthy of admiration. They
shiver at the thought of a fifty-cent sil
ver dollar, but blandly smile at the
promise of a fifty cent national bank
note. When an enlarged use of silver
is advocated, there is money ,enough
to do the business of the country
but when an increase of the nat
ional bank circulation is mentioned, the
, necessities of the trade demand it If
you suggest the quantative theory of
money as a sound principle of finance
they ridicule it as an exploded fallacy,
but the moment you intimate that busi
ness would be benefitted by an increase
"in the national bank currency they are
delighted to admit the necessity for it
If you suggest that the people are satis--
fled with the greenback, you are charged
with being unsound on the money ques
tion, but if you suggest that a national
. bank note guaranteed by the govern
ment is the best money on earth you are
at once congratulated upon the sound
ness of your financial views. If an or
, dinary citizen objecte to the present war
taxes he is admonished that he must be
patriotic and stand by the administra
tion, but a national banker can boldly
ask for a reduction of his taxes as is
done by the comptroller in his recom
mendations, and be a patriot still. Truly
the moral, financial and economic gym
nastics of the national banker is some
thing wonderful to behold.
"The recommendations of the Comp
troller if enacthd into law promise this
coun ry a -Wild Cat' banking system as
little entitled to confidence an the
schemes of John Laws of land bank
fame.
'The whole plan is born of selfish
greed with a purpose to create in the
country a bank monopoly. I have al
' ways supposed that. bank supervision
was instituted to protect the money of
the people placed in the keeping of the
banks. Three or four billions of depos
iss held by the national banks would
seem an interest of great magnitude, but
it appears to have been forgotten by the
Comptroller. However when these
banks can issue currency ad libitum
they will not need deposits."
m , 1
i . j . l
What basis is mere 10. Dragging
that republican editors ha .one dur
ing the last two weeks about the fine
condition of the national finances? There
is absolutely none at all. During the first
two months of the sew fiscal year our
rorernmenthasexpended 1102 !f!,000.T3,
of which $21,086,469.81 has gone for the
the support of the civil ana miscella
neous establishment, and all the rest for
military expenses of one kind t another.
The army got 831,202,989.06; the navy,
and.interest on the war debt, $9,153,
845.38; a total of the military side of the
ledger of $79,153,835.64, or at the rate of
$ 474,950,073.84 a year for warlike out
goes, while the total cost of the civil es
tablishment was at the annual rate of
112098,938.86.
Is that a condition of affairs to brag
about? It will continue to grow worse
as long as tho war in the Philippines
lasts. .
There are five or six editors of fusion
papers in this state whose writing, in
point of English and sound, sensible ar
gument, would do credit to any daily or
magazine in the land. There seems to
be several others who make no attempt
to do nny original writing at all. They
are either too lazy to try or they don't
know how.. Every weekly populist paper
should have at least one or two original
articles of general interest in each issue.
Of course the local news is what a coun
try paper must always have, but when a
paper contains nothing else in its home
print, it falls far short of fulfilling its
mission. '
The Boston gold bug anti-imperialists
held a meeting in Boston last Saturday
aud almost unanimously declared that
they would vote for Mckinley. That is
just what the Independent said a long
time ago that they would do. There is
nothing to hope for from that Boston
anti imperialist league. The men who
run it have no sympathy with the great
mass of the common people of this coun
try. They will talk about all men being
born equal and then vote for a policy
that closes the door of opportunity to
nine-tenths of them so that the other
tenth can become millionairs and be the
industrial and political lords of the
earth.
Deserves Honor
The Nebraska Independent was sent
to my address during the past heated
campaign just ended, and I must say it
deserves much of the honors of the past
great victory in Nebraska. '"-
I find the Independent to be one of
the best educators on the science of po
litical economy in the country. It would
be to the interest of every farmer and
laborer in the country to support it, even
if it is denounced by imperialists, money
trusts, oil trusts, iron trusts, and in fact
all the "steal" trusts in our country, for
while we have subdued one of our cow
ardly enemies, namely Spain, we still
have one of our greatest enemies yet to
conquer namely trusts.
I dare say that if some foreign power
could land an army on our shores and
levy one-half the tax upon our people
that'the trusts are grinding out of the
farmers today, no human power could
check the tide of indignation which
would overwhelm them.
In reference to imperialism, the repub
licans say: "stand by the flag boys." But
let us be careful and put the flag in the
hands of men who will stand by the
principles taught in the declaration of
independence and the constitution of
our country, then we will stand by the
flag first, last and all the time. But we
cannot tolerate the idea of having the
fair pages of American history blotted
by the raising of our glorious flag to
cover polygamy, slavery, wars of con
quest, aggression, subjugation and ex
termination, for that has no place in the
true policy of our government To pre
vent these evils, let me suggest that we
place the grandest statesman on earth,
W. J. Bryan, at the head of our govern
ment, Dewey and Schley behind the 13
inch guns, the First Nebraska volunteers
behind the rifles, the reform press be
hind our political campaigns, and the in
telligent farmers and laborers behind
the ballot Then all people will have
confidence that the flag will never be
curried into fields where true Americans
safely folio. L. Olson.
Senator Hayward Dead.
Nebraska City. Neb., Dec. 5 Senator
M. L. Hayward died this morning at
6:20. He had been unconscious nearly
twenty-four hours and suffered no pain.
With the exception of Dr. Edward
Hayward, who as a military surgeon is
in tho Philippines, all the' members of
the family were at his bedside. With
them in the all night vigil were a num
ber of his closest friends in this city.
The senator was taken ill on Novem
ber 9, while on his way from his office to
his home, which he reached without as
sistance. He took to his bed at once
and has not since been able to leave it
The physicians pronounced the disease
progressive paralysis, and since that
time, while at intervals he ha seemed
to rally and be somewhat better, he has
gradually grown weaker physically
until the end came.
As soon as the news arrived the flags
over all county, city and state buildings
were placed at half mast
Governor I'oynter issued a proclama
tion containing a tribute to Senator
Hayward and sent the following message
of condolence to Mrs. Hayward:
Lincoln, Dec. 3 Mrs, Hayward, Neb
raska City: Accept my sincere sympa
thy in this sad hour of your bereave
ment The people of our state mourn,
with you for the loss of your distingu
ished husband and ouo of our foremost
citizens: Freely command me for any
service I may be able to render you at
this tin. W. A. Potktbb, Governor.
FIXING THE jOLD STANDARD
The Text of the Bill that Wall Street will
endeavor to put tbrouiiU CongreM '
this fteiutiou. " 4
Washington, D.C., Nov. 28.-The fi
nancial bill prepared by the republican
committee, whiuh met at Atlantic Ciry
last spring, was today made public by
the committee. Ite text follows:
A bill to define and fix the standard of
value, to maintain the parity of all
forms of meney issued or coined by
the United States, and for other pur
poses: Be it enacted by the senate and house
of representatives of the United States
of America in congress assembled: That
tho standard unit of value shall, as
now, be the dollar, and shall consist of
twenty-five and eight-tenths grains of
gold, nine-tenths fine, or 23 22-iOO grains
of pure gold, being the one tenth part of
the eagle.
Section 2 That all interest bearing
obligations of the United States for the
payment of money, now existing or here
after to be entered into, and all United
States notes and treasury notes issued
under the law of July 14, 1890, shall be
deemed and held to be payable in the
gold coin of the United States as de
fined in section 1 of this act, and all
other obligations, public and private,
for the payment of money shall be per
formed in conformity with the standard
established in said section. Nothing
herein contained shall be construed or
held to affect the present legal tender
quality of the silver dollar, or of the
subsidiary or minor coins, or of the pa
per currency of the United States, or
the laws making national bank notes ac
ceptable and payable for certain public
debts and dues and obligations betwoen
national banks.
Sec. 3 That there be established in
the treasury department, as a part of the
office of treasurer of the United States,
a division, to be designated and, known
as the division of issue and redemption,
to which shall be assigned, under such
regulations as the secretary of the treas
ury may approvo, all records and ac
counts relating to the issue, redemption
and exchange as hereinafter provided, of
the several kinds 01 United suites mon
ey. There shall be transferred from the
general fund in the treasury , of the
United States and taken up on the books
of the said division as a redemption fund
the amount of gold coin and bullion held
against outstanding gold certificates, the
amount or United states notes held
against outstanding currency certificates,
the amount of silver dollar, held against
outstanding silver certi'L-ates.the amount
of silver dollars and silver bullion held
against outstanding treasury notes is
sued under the act of July 14, 18SX), and
an anount of gold coin and bullion to
constitute a reserve fund equal to 2 per
cent of the amount both of United
States notes and treasury notes issued
under the act of July 14, 1890, outstand
ing. The gold and silver coins and bul
lion transferred from the general fund in
the treasury as herein provided, shall be
increased or diminished as the case may
be, in accordance with the provisions of
this act, and in no other way.
1SSUK BONim ANT TIME.
Sec. 4 That is shall be the duty of
the secretary of the treasury to maintain
the gold reserve fund taken up on the
liooks of the division of issue and re
demption, as herein provided, and for
this purpose he may from time to time
transfer to such fund any moneys in the
treasury not otherwise appropriated, or
may exchange any of the funds, in the
division of issue and redemption for
other funds which may be in the general
fund of the treasury, and in addition
thereto he is authorized to issue, and
sell, whenever in his judgment is is nec
essary to the maintenance of said re
serve fund, bonds of the United- states,
bearing interest at a rate not exceeding
3 per centum per annum, payable in gold
coin at the end of twenty years, but re
deemable in gold coin at the end of one
year. But no transfer shall at any time
be made from the general fund of the
treasury to the issue which will reduce
the general furd below $50,000,000. That
all United States notes and treasury
notes issued under the actofJulyH,
1890, presented for redemption, shall be
redeemed in gold coin at the will of the
holder, and all silver certificates pre
sented for redemption shall lie redeemed
in accordance with existing laws.
KNDLKS8 CHAIN CONTINUED.
The secretary of the treasury is re
quired to issuo said reserve fund in
maintaining at all times the parity and
value of every dollar used or coined by
the government, and if at any time the
secretary of the treasury deems it neces
sary, in order to maintain the parity and
equal value of all the money of the
United States, be may at his discretion
exchange gold coin for any other money
issued or coined by the United mates.
The notes and certificates so redeemed
or exchanged, shall be held to constitute
a part of said fund and shall not lie
withdrawn therefrom, nor disbursed, ex
cept in exchange for an equivalent
amount of coin in which said coin or cer
tificates were redeemed or exchanged,
except as liereinliefore in this section
provided. Nothing in this act shall be
construed as repealing that provision of
the act approved July 14, law, which
provides that "no greater or less amount
of such notes shall be outstanding at
any time, than the cost of the silver bul
lion and the standard silver dollars
coined therefrom then held in the treas
ury, purchased by such notes."
Sec. ft That the secretary of the treas
ury is hereby authorized to use at his
discretion, any silver bullion Id the treas
ury of the United States purchased un
der the act of July 11, 18SW, for coinage
into Buch denominations of subsidiary
silver coin as may be necessary to meet
tho public requirements for such coin,
and any gain or seignorago arising from
this coinage shall be accounted for and
paid into the treasury. Whenever any
silver bullion, purchased under the act
of July 14, 1890, shall be used in the
coinage of subsidiary silver coiri, an
amount of treasury notes issued under
said act equal to the cost of the bullion
contained in such coin shall be cancelled
and not reissued.
Section 6 provides for the recoining of
worn or mutilated silver coins.
Section 7 provides for the denomina
tion of treasury notes and silver certifi
cates. 1 Section 8 Section 5,159 of the Ro
visod statutes of the Uuited States be
and the same is amended so as read as
follows:
HBLl'S OUT TUB BANKS.
1 . x '
iSec. 5,159 Every association, after
having complied with the provisions of
this title, preliminary to the commence
ifient of the banking business and after
it shall bo authorized to commence bank
ing business under this title, shall trans
fer and deliver to the treasurer of the
United States as security for its circu
lating notes any United States registered
bonds, bearing interest, to an amount
where the capital is $150,000 or less, not
less than one-fourth of the capital, and
$50,000 where the capital is in excess of
$150,000. Such bonds shall be received
by the treasured on deposit and shall be
by. him safely kept in his office until
they shall be otherwise- disposed of, in
pursuance of the provision.? of this title,
and such of thoso bunking associations
having on deposit bonds in excess of
that amount are authorized to feduco
their circulation by the deposit of law
ful money, as provided by law; .
Provided, That the amount of such
circulating notes issued to any national
banking association having on deposit
United States bonds to secure circula
tion at the passage of this act, or which
may thereafter deposit such bonds to se
cure circulation, shall not exceed in any
case the par value of tho bonds deposited
as heroin provided.
Sec, U-That every national banking
association shall pay to the treusurer of
the United States in addition to the taxes
imposed by an act approved July 13,
1898, entitled, "An act to provide ways
and means to meet war exuenditures
and for other purposes," each half a year,
in the months of January and July, on
or before the thirtieth day thereof, a tax
of 1 10 per cent on the value of its fran
chise as measured by tho aggregate
amount of capital, surplus and undivided
profits, upon the last day of the calendar
month next preceding.
Sections 5214, 5215, 5210 and 2517 of
the revised statutes of the United States
are hereby repealed. But nothing in
this section contained shall be so con
strued as in any manner to release any
national banking association from any
liability from taxes or penalties incurred
prior to the passage of this act. In or
der to enable the treasurer to assess the
taxes imposed by the provisions of this
section, each association shall within ten
days from the first days of January and
July of each year, mSke a return, undor
the oath of its president or Aishier, to
the treasurer of the United States, in
such form as the treasurer may prescribe,
of the amounts of the capital, surplus,
and undivided profits on the last day of
the calendar month proceeding. Every
association which fails to make such re
turn shall bo liable to a penalty of $200,
to bo colfected either out of the interest
as it may become due such association
on bonds deposited with the treasurer,
or at his option, in the manner in which
the penalties are. to be collected of other
corporations under the laws of the Unit
ed States. Whenever any association
fails to make the return herein required
the taxes to be paid by such association
shall be assessed on such amountof cap
ital, surplus and undivided profits of
such association.
Whenever an association fails to pay
the taxes imposed by this section the
sums due may be collected in the man
ner provided for the collection of United
States taxes from other corporations or
the treasurer may reserve the amount
out of the interest, as it may become due
on the bonds deposited by him with such
deiauiting association.
Sec. 10 That section 5138 of the re
vised statutes is hereby amended so as
to read as follows:
Sec. 5138 No association shall be or
ganized with a less capital than $100,000,
except that banks with a capital of not
less than $50,000 may, with the approval
of the secretary of the treasury, be or
ganized in any place, the population of
which does not exceed 6,000 inhabitants
and except that banks with a capital of
not less than $25,000 may. with the
sanction of the secretary of tho treasury,
be organized in any pluoe trifc. .popula
tion of which does not exceedOOO in-'
habitants. No association shall be or
ganized in a city, tho population of
which exceeds 50.000 persons, with a
capital of less than $200,000.
Xhe report on the bill has been pre
pared by Representative Overstreot, of
Indianapolis, who introduced the origi
nal bill of the monetary commission in
1898, and has been distributed to each
republican member of the house. Mr.
Overstreet frankly admits that the com-'
mittea "did not consider the general
subject of banking, nor did it seek to ar
range a complete scheme of finance, but
confined its recommendations to those
subjects of most pressing demand, as
evidenced by the pledges of the republi
can party and the general policy of tho
administration."
TKDt'KKL TO OTHKB NATIONS.
Mr. Overstreet quotes the pledge of
the republican national convention of
1890, that all "our silver and paper cur
rency must be maintained at a parity
with gold, and we favor all measures de
signed to maintain inviolable the obliga
tions of the united (states and all our
money, whethor coin or paper, at the
present standard, the standard of the
most enlightened nations of the earth.
Tho repeated declarations of President
McKinley are quoted, including his
famous speech in New York at tho be
ginning of 18VW, in which he declared
that the people s purpose in favor of
sound money, must be given the "vital
ity of public law."
ihe declaration 'in the republican
flatform and the subsequent etfort of
'resident McKinley relative to an in
ternational agreement, it is declared,
were made in good faith, but the attitude
of the leading nations and the constant
fluctuations in the value of silver bullion
render such an agreement practically
impossible. .
Explains a Mystery
Editor Independent: I saw the fol
lowing item in your paper:
"The Post says: 'The latest bulletin
from Nebraska City is to the effect that
J. Sterling Morton and Chaplain Mailley
wont down into the Missouri river and
took a much needed bath. The surface
of the waters of the 'Big Muddy' was not
much disturbed, however.' It is com
mendable in the writer of the above that
he tried to temper the wind to tho shorn
lamb, but that does not excuse the inac
curacy of the report. If the Post was
going to tell the story at all he should
have told all of it, and recorded the fact
that the siuell of them killed all the lish
in tho river for ten miles loth ways, up
and down."
Now, that clears up a mystery. I
couldn's account for the dead fish lying
along tho edge of tho river fronting my
farm, or tho horrible smell . that they
emitted. Do you suppose tiat that
twain washed all the filth out of them,
or are they likely to polute the whole
state in the next campaign? Jill. T.
Rulo,Neb.
"ME UNO GOTT"
A JewUh Kablil I'nlnt Out how McKin
ley Follow the Example of the
(ieripnn Emperor.
Rabbi Charles Fleischer, formerly of
Denvor and now of Boston, is one of the
learned men of this country and one of
the most prominent men in the Hebrew
Church. The other day he' took up
McKinjey's Thanksgiving proclamation
and discussed it after the following fash
ion: ,' ' ' . " :" '
"The bumptious 'me und Oott' atti
tude of the emperoror of, Germany is
paralleled in passages of this proclama
tion, relating what God and our present
administration have accomplished in a
twelve-month.
"Our presidents bids us remember the
material causes for thanksgiving in the
'growth of prosperity and the Bpread of
our power. On that basis the next
financial panic or a defeat at the hands
of other people might at sorao future
time, deprive us of reason for thanksgiv
ing. It will not do to cheapen and ma
terialize our gratitude in this wise, and.
like Jacob of old, bargain with God and
make our thankfulness dependent upon
our welfare.
It is reassuring to be officially told
that, as a resul , of the efforts of God and
the administration, 'there has been a
steady gain in the moral and educational
growth of our national character.' A
mere moralist might not have noted this,
but a politician could not fail to see the
increased interest of the people in poli
tics. "I take it that just this is meant by
the 'moral and educational growth of
our educational character.' Surely no
religionist, whether Jewish or Christian
or unaffiliated, would claim that the in
crease of the war spirit, the rousing of
the slumbering beast in man, the . sacri
fices of our real national character as a
peace-loving and righteousness pursuing
people on the altar of international greed
and grab, the compromising with our
ancient (and, apparently, antiquitatcd)
fundamental democratic principles for
the sake of taking our place as a people
on the lower plane of unprincipled im
perial thought and practice surely no
religionist would contend that such lacts
indicate a 'gain in the moral growth of
our national character.'
"But the first president of our imper
ial democracy probably judges by differ
ent standards. He in whose eyes two
years ago 'forceable annexation would
be criminal aggression,' and, today,
suqh aggression and subjugation are
only part of the process of 'benevolent
assimilation,' must not be judged by
those whose code of morality is still ad
justed to a single, rather than to a dou
ble standard, to whom right is still right
and wrong still wrong, whether an Amer
ican or a Filipino, a Britain or a Boer.
iHOur jftfcj'dnj may suggest, as he
does in hrnirociimatfon, that we offer
'prayers to the Most High for a contin
uance of the divine guidance,' but some
of us will include the president and all
our executives and representatives in a
fervent prayer that their minds may be
open to God's influence; that they will
not interpret the 'Divine Guidance' in
the dim light of their own selfish inter
ests, or even of this groat people's tem
porary or apparent gain.
"Amorica's first imperial Thanksgiving
should be more prayerful than any pre
ceding one, for more than ever, with the
assumption of grave responsibilities in
sharing with God the making and un
making of the destinies of peoples, we
must be sure that we are full of the
spirit of God, sure that we are inspired
always with love of humanity, never al
lowing ourselves or others for a moment
to donbt our honest purpose as a people,
prayerful always lest we forget that God
is not deceived by pious proclamations
and professions, evincing ever our faith
that righteousness alone exalte a nation,
and our determination that, through our
righteous effort, the most exalted of na
tions shall be our beloved America.
Then another Thanksgiving day shall
rind us indeed advanced in the moral
and educational growth of our national
..tn. lw...n.A n. .,i.ll ...!..
tltniovu;!. imaunQ wo nuatl UdtS irUIT
submitted ourselves to the Divine Guid
ance." It will pay you to read our great
premium offer on the fifth page of this
issue. It may just "suit" you.
WHAT THEY WILL DO
The Demand of Wall St reet an let birth
in a Gold Ntandurd Magaalae. .
The chief foalures of the hou e bill an)
those which relute to the metallic stand
ard. The substance of the bills has
reached the public, but heretofore in
somewhat disconnected form. The fol
lowing is a synopsis of the main featiiw
of the house bill:
1. That the present gold dollar is the - ,
standard unit of value in the United
States.
2. That all interest bearing obligations
of the United States for the payment of
money, now existing or hereafter i-wied.
and nil United States notes and treasury
notes shall be deemed to he paid in gold
coin, and that all other obligations,
public and private, shall be performed
in conformity with the standard.
3. That there shall be established i
the treasury department a division of is
sue apa redemption, which shall keep a
gold reserve for the maintenance of tha
parity of money, separate from the fiseal
operations of the treasury.
4. That a gold reserve shall be consti
tuted equal to 25 per cent af the com
bined amount of United States notes
ana treasury notes outstanding.
iui Hue mwiewry in me treasury
may sell 3 per cent bonds payable in gold ',
whenever necessary to maintain the gold
reserve at a proper amount and to muia
tain the parity of all forms of money is
sued by the United States.
These provisions are so clear cut and
straightforward that they practically ex
plain themselves. If enacted into law
they will place the United States amoag
the other advanced commercial nations,
with gold as the fixed standard of value.
Tho senate bill has not been niven final
form, but differs mainly from the house
bill in creating a stronger gold reserve '
and giving tho secretary of the treasury
even broader powers. The house bill v
would provido a gold reserve at the out
set of about $112,000,000. The senate
bill will place this amount much higher,
probably at the even sum of $150, 0J.000.
The house bill provides for m intaining
the silver dollars at parity wi hgold by
$uthorizing the secretary of th 1 treasury
at his discretion to exchange go d ooin ,
for any other money issued or e 1 ned by '
the United States. The senate bill is
expected to leave no discretion to tha
secretary, but to put every holder of a
gold dollar upon the same plan by pro
viding for exchangeability of either coin
for the other at the will of the holder.'-
From "The Progress of Monetary Re
form," by Charles Sumner Hamlin, in
the American Monthly Review of Re
viewH for December, 1 ' ; ; "
The State University.
Columns of stuff has appealed in tha
republican papers of this state about a
cloan sweep when the new regents air
installed, but with one exception. a
such demand has been printed in the
fusion papers. That is not the populist
idea at all. The following from the .
Yeoman is about the concensus of opin
ion that has been expressed in all the
populist papers with the one exception
noted. , . '
We believe the new board of regente
of the state university, which will be
two-thirds fusion, will have too good
sense to make any changes in the pro
fessorship for purely partisan purposes,.
In the election of chancellor, if they can
find a broad mindod educator.adoiirably
fitted and equipped for the position,
more or less in sympathy with their
views, it will be perfectly natural for
them to promptly secure him. But, for
that position, we want no second rate
man. ' It is all important that a strong
man with rather conservative Views be '
selected: Let us haye no weak aad
cheap partisan. In regard to the pro
fessors now on duty, our positive con
viction is that no change should ba
made where a professor is doing good
work work that reflets credit upon
the institution: Let us not pattern
after the republicans of Kansas who re
moved some of the ablest educators of
the country from their university for
purely political reasons. The populist
party of Nebraska has acted wisely thns
far, and we desire that it make a record
in the university of which we may all
feel justly proud.
But One issue-Gold -
Kditor Independent: Congress is in
session. The country has been can-
vassed by agents of the plutocrats for
weeks to have something done to keep
that polygamous devil of a Roberts from
taking his seat as a representative from
Utah, and thanks to Dave Henderson
and his republican caucus, it has been
decided to make the attempt But did 1
you notice that the same caucus that de
cided to make Mr. Koberts a political
issue also decided to put through a fi
nancial bill, fixing the single gold stand
ard in this country and relegating us' to
1855 when we were willing to accept
british consols as gold, and go broke in
1857. If no cog slips, this finance meas
ure is to be passed before Christmas.
The house measure is published, but
the secret senate bill, which is to finally
go through conference committee, Is not
yet made public.
, Why not?
If you could answer, irhaps yon, in
stead of Mr. Bryan, would be the fusion
nominee in 1900.
There is but one issue before the coun-
try, and that is gold. .
The blood and treasure expended in
the Philippines is simply in the interest
of gold. Tho juggling with Cuba and
Porto Rico aro all in the interest of gold.
The exploitation of Mr. Roberts of Utah
is especially in the interest of gold, be
cause it makes a counterbalance for the
finance bill; and Roberta and the bill
are both to be disposed of before tha
holiday recess and the announcement of
committees. Hurrah for the Emperor.
Lincoln, Dec. 4, 1SW. Thi Demw.
