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About The Nebraska independent. (Lincoln, Nebraska) 1896-1902 | View Entire Issue (Dec. 7, 1899)
W-I-,i.iii J 2 December 7, Iff 9. r i. r is. THE MOVEMENTOFGOLD It Goes Where Commercial De mand Is Strongest MHJGSLE POa IT: TRSmSWJOuB. 1M Domain d Force Debtor Aatloaa Par More For It Than the Crcd ttr Stateai Hence Prlrea of What They tTu to Sell Pall, With a 11- Mttl Ueaclt of naokrnptcr. Seme of the gold standard papers a few months ago exulted over the fact that no runs were being made upon the wimiry, and they sagely Inform u rhirt wtion there Is no danger of the Honey standard being tampered with Hie people don't" care for the gold. They 'wgwt apparently that the heaviest nana upon the treaBury took place In the very midst of Mr. Cleveland's ad ministration, long before tho Chicago y latform declared for free uilvpr, when, tfcere waa no Indication that It would 4a s and when, In fact. It looked as If Hie free silver catme had received Its deathblow. They alno forget that the mm In a great measure ceased In the irommerand fall of 180C, when "Bryan 5m" wa sweeping like wild flro over tte country and seemed to stand at least an even chance of winning. What do these facts prove? Simply this that the great financiers can ei ther loot the treasury or stop looting It, almost at will. Another bond issue An the fall of 1S90 would have landed Mr. Bryan In the presidential chair, and the Morgan-Itotbschlld syndicate saw to It that there was none. Nor .would It have done to have had anoth er Immediately after the election, for It would have belled - every campaign ymulse that the gold men had made. Shortly thereafter the heavy exports of grain and breadstuff began, turning fee balance of trade this way and checking the outflow of gold. Hence there was no occasion for runs upon tho treasury. I Kobody wants gold for Intcrual use. Paper Is almost universally preferred. It la the foreign demand that rakes e treasury. That foreign demand , most be met whether we have the gold standard or any other. What that for eign demand may le will always de pend upon commercial conditions, sul- ! jeet to the ability of the great money power of the two continents to Inter fore with the free flow of gold by manipulation of the exchange. But this Is a thing which will not and can not be continued Indefinitely. ; Tho con trolling factor Is primarily the course f trade. But loans and other luvesf- ' ments creating a condition of indebted ness separate and apart from that .which arises from the mere buying and Belling of goods will also liavo an Important benriug. ."It our courts of merchandise ' atnouut to $ltX),000,000 more than our Imports, then, with all other conditions equal $100,000,000 In specie would wuie to us iu settlement of the bal ance. But If we had an Interest charge of $100,000,000 to pay, or if we paid a like sum In freights, or If Amerlcau travelers used the same amount In meeting the expenses of their Journey lngs, in any of these cases the bal ance duo us would be absorbed, and we would get no specie from other coun tries unless It were sent here simply for Investment; Hence we see that In dealing with the movements of spe cie we cannot confine our observations to trade balances alone. If we had no foreign payments to make except for irrent purchases of goods, we would have no trouble about our reserves of either gold or silver, for the balances are almost universally our way. But wo have heavy -charges to meet entire ly separate and apart from any matter connected with tho mere exchuuge of goods. f Our foreign debt has been variously estimated at from $5.000,0o0,00u to $M. . 000.000.000. Very little of this viihi sum has lieen actually sent here for ' Investment. The great bulk of It Is the result of reinvestment of profits, which profits themselves came from the la bors of the American people. But the interest upon it has to be paid Just the same. So do the freight charges and the expenses of American travelers. The aggregate amount of these can ouly be estimated, but H Is certainly not less than $.'."0,00(),onO, and it is probably considerably in-excess of that num. Iurlug lSOS'our sales of goods exceeded our purchases by something like $3."t",000,000. and yet the exerts and imports of gold very nearly bal ance each other. This startling cir cumstance ran be accounted for In uo other way than by reference to the de mands which Europe holds against us In the shape of Interest, freights and travelers' expenses. But commercial conditions durlug 1808 have been al together abnormal. Our shipments of wheat and other food products have been extraordinary. With smaller ex ports and lower prices, as the London Financial News says, a drain of gold will begin again. Iluus upon the treas ury will be sure to follow unless the banks furnish the gold for export, which they probably will not do. They will prefer to draw It from the treas ury. Induce the administration to Issue more bonds and then ascribe It to the "silver agitation." Aa already stated, the great finan ciers can to a considerable extent con trol the movement of gold. They can guard the treasury against "runs" by furnishing from their own vaults the gold needed for export, as they did prior to 1893. They can for a time check the International movements of Sold by manipulating the exchange or by not Insisting upon the Immediate payment of their dues. But In the long run gold la bound to go where the eon nerclat demand for It Is the atrenf est 1A. tremendous struggle for It to going on all the time and, aa the gold stand ard la extended, Is growing more and more Inteuse, In such a struggle the debtor k.sies are at a dreadful disad vantage. They can only get gold by pitying iiiuro for It than the creditor na tions will that Is, they must put down the prices of the things which tuey sell. Tl i lower the prices fall the more gonl It raUea to pay a given amount of debt, and the more good are sold the lowv Mi.n prices will g! until a point Is reached at which tho debts cannot be paid at all, and then comes national bankruptcy. Of course with our Immense resources such a condi tion may not be Immediately at hand. but under the gold standard the tend encies are all that way. II. F. Uartixe. A SIGNIFICANT REBUKE. Prominent (Sold Standard Mil S.'lown to Be Inconsistent. Iloury Clews In a recent circular says that nothing will help good in vestment and active speculative stocks more than for large amounts of gold to pour Into London or New York from outside sections of' the world. lie predicts that when peace Is restored In the Transvaal tho world's output, of the precious metal will be $300,000,000 a year and suys that this Is the stron gest, safest and most legitimate basis for the Inflation of values that Is pos sible. The Springfield Republican, which has the merit of consistency In this matter and which seems to bo sincere in desiring to see the money supply kept at the luvcl of low prices, makes the following comments on tho forego ing: f'The writer of tho above circular was an especially savage critic of the Democratic scheme of silver remonetl r.atlon, Inflation and repudiation In 1800, and he Is just as savage about It now iUP ever. But he welcomes Infla tion and repudiation through a greatly Increased and cheapened gold circula tion as something most desirable and legitimate. It must, of course, be & matter of supreme Indifference to the holder of tho dollar, whether ho bo wage earner, fixed salary man or tuou ey lender, or one who lives on Income from Investments, whether the dollar Is cheapened to a particular extent through a rise In prices from large ad ditions of gold or large additions of silver to the monetary circulation. The essential fact In either case is that his Income, dollar by dollar, has been reduced in purchasing power, his real wages have been cut down, the debt owing to him has been "repudiated" to a like extent. . 'Trices In the United States have within two or threw years advanced some 33 per eeut, which means that tho gold dollar has been cheapened proportionately, and debts have been repudiated to the same extent. But even this is not enough for Henry Clews, of lioueftt money fame In Wall street He wants more repudiation. He wants a further Inpour of new gold, which would further Inflate prices nnd cut down real wages, sall ies anil fixed Incomes and which would further scale down debts. Bry an demands no more than this, and his way of bringing it about differs In no essential particular from this Wall street way." The position of The Republican Is that of all the Intelligent and sincere advocates of the gold standard. If they are opposed to the remonetlzatlon of silver because It would increase the money supply nnd thus depreciate the purchasing power of the dollar, they must, to be consistent, be opposed to every contingency and development which would produce that effect. Whatever raises prices causes the de predation of the purchasing power of the dollar. As The Republican sadly says, prices have risen 33 per cent in the past two years. The result Is busi ness activity, Industrial progress, a measure of prosperity and also the de predation of the dollar. As compared with 1S03, we have a 07 cent dollar. Well, the whole contention was that higher prices the reduction of the purchasing power of the dollar would result In business activity and prosper ity, Including higher wages. These phenomena have been occurrtng before our very eyes. But The Republican has had enough of these proofs of Democratic argu ments, and It now turns upon Clews nnd rebukes him for wanting more re pudiation In the shape of n large mon ey supply, higher prices and commer cial activity. Atlanta Constitution. ITow Cheerful! Mr. McKluley tells the "workingmon that his heart Is cheered at tho sight of them "as they come out of the mill and wave their shiulng buckets, now full when once they were empty." It Is enough to cheer any patriot's heart to see men coming out of the mills with full buckets and going In with them empty. It is a little mixed, but strictly In line with the usual Mc Kluley platitudes. It Is a pleasure, however, to know that the presidential candidate for a second term will per mit anything but the flag to get a chance to wave. We don't know ex actly what Mr. McKluley had to do with filling the empty buckets. ' Per haps he means they are loaded with the tariff on tlu. Theoretical Flsrbtrra. Lord Wolseley urges radical rcfonna In the English army. We should think he would. The English army reminds us of our own while it was rendezvous ed In southern camps. The officers and the men are all right, but they are di rected by as incompetent a set of bu reaucrats as ever came Into power. It Is a question whether the cable and the telegraph mo distinct advantages In war, according, as they do, theoretical fighters an opportunity to boss a Job 3.000 or 4,000 miles away. New York News. . A FRENCH PANEGYRIC. Eloquent Tribute to Washing ton In the Temple of Mars. ORDERED BT TEE FIEST OOiJSOL Oral Ion of Marqula Loafs de Fen Ian oa, Proaoaaoed to the IFreaeh Army and Katloa la Pari) Wuk InKtoa Held I'd as a Military Oea turn, a Leader aad a Coanaelor. . On learning of Washington's death Napoleon ordered a public demonstra tion of respect and selected Marquis de Fontanes. whose finished style won him the title of "Racine's Last De scendant." to pronounce a eulogy upon the great American. The scene was the Temple of Mars, now the Hotel dea Invalldcs. ' "France," said Fontanes, "unbiased by those narrow prejudices which exist between nations aud admiring virtue wherever it be found, decrees this trib ute of respect to the manes of Wash ington. At this moment she contrib utes to the discharge of a debt due by two nations. No government, whatev er form It bears or whatever opinions It holds, can refuse its respect to this great father of liberty. The people who so lately stigmatized Washington as a rebel regard even the enfranchise ment of America as one of those events consecrated by history and by past ages. Such Is the veneration excited by great characters. The American Revolution, the contemporary of our own. Is fixed forever. Washington be gan it with energy and finished It with moderation. He knew how to main tain It, pursuing always the prosperity of his country, and his aim alone will justify at the tribunal of the Moat High enterprises so extraordinary. "To pronounce the eulogy of the hero of America requires the subllmest elo quence of the first of orators. I reflect with sentiments of admiration that this temple, ornamented with the trophies of valor, was raised up In an age of geulas, an age which produced as many great writers as Illustrious commanders. Then the memory of he roes was intrusted to orators whose WASHINGTON'S RETIREMENT FROM THE ARMY. genius gave Immortality. Now milita ry glory shines with luster, and in ev ery country the glory of the fine arts Is shrouded !n darkness. My voice Is too feeble to be heard on an occasion so solemn and momentous und so new to me. But as that voice is pure as It has never flattered any sjiecles of tyrauuy It has never been rendered unworthy of celebrating heroism and virtue. "Nevertheless, these funeral and mil itary honors will speak to all hearts. It needs not the aid of speech to raise strong and Indescribable emotions. The mourning which thenrst consul or ders for Washington declares to France thut Washington's example is uot lost. It Is less for the Illustrious general than for the benefactor and friend of a great people that the crape of mourn ing now covers our banners and the uniform of our warriors. Neither do we prepare that unmeaning pomp, so contrary to policy and humanity, in which insult Is offered to misfortune. contempt to veuerable ruins and calumny to the tomb. Every exalted Idea, every useful truth, is seen In this assembly. I siKnk before warriors the honorable praise of a warrior firm In adversity, modest In victory nn.i mag nanimous in every stage of fortune. "Before the ministers of the French republic 1 speak the praises of a man whom ambition never swayed anil whose every cure tended to the welfare of his country: a mou who. unlike oth ers that have changed empires, lived in pence lu his native land and In that land which he had freed and In which be had held the highest rank died as a simple1 Individual. "General Washington offers exam ples not less worthy of Imitation. Amid all the disorders of camps, amid all the excesses Inseparable from a civil war. humanity took refuge In his tent and was never repulsed. In triumph and In defeat be waa always aa tranqnll as wisdom, as simple as vlrtne. The finer feelings of the heart never abandoned him, even la those moments when his own interest would seem to Justify a recurrence to the laws of vengeance. "It Is these extraordinary men who appear at Intervals on thla vast scene with characters oommsndlng and Il lustrious. An unknown and superior cause sends them when it la fit to lay the foundations of new or to build up the ruins of old empires. It Is in vain that these men atep aside or mingle with the crowd. Destiny leads them on. They are carried from obstacle to obstacle, from triumph to triumph, until they arrive at the summit of pow I er. Something uperaat.ntl animate all their thoughts. An Irresistible movement us given to all their enter prises. The multitude still seek them among themselves and find them not They raise their eyes and see In a sphere dazzling with light and glory those whom their ignorance and envy would call rash. "Washington had not those high and commanding traits which strike every mind. He displayed more order and Justice than force and elevation In bis Ideas. He possessed, above nil. In an eminent degree, that quality which ome call vulgar, but which very few possess that quality not less useful to BtTST HOnDON'S STATUE. the government of states than to the conduct of life and which gives more tranquillity than emotion to the 60ul and more happiness than glory to those who possess it. It Is of good sense that I speak. Audacity destroys, genius elevates, good sense preserves and per fects. Genius is charged with the glory of empires, but good sense alone assures their safety and repose. His end portrayed all the domestic virtues, as his life bad been an illustrious ex ample In war and politics. America regarded with respect the mansion which contained her defender. From that retreat, where so much glory dwelt, sage counsels Issued, which had no less weight than In the days of his power. But death has swept all away. He died In the midst of those occupa- tlons which sweeten domestic life and support us In the infirmities of age. "From every part of that America he delivered the cry of grief is heard. It belonged to France to echo back the mournful sound. It ought to vibrate on every generous heart. The shade of Washington on entering beneath this lofty dome will find a Turenne. a Catinat. a Conde. all of whom have fixed their habitation here. If these Illustrious warriors had not served In the same cause during life, yet the fame of all will unite them In death. Opinions, subject to the caprices of the world'and to time opinions, weak and changenWe. the Inheritance of humani ty vanish on the tomb, but glory and virtue live forever. When departed from this stage, the grent men of ev ery age and of every place become in some measure compatriots and contem poraries. They form but one family In the memory of the living, and their examples are renewed in every suc cessive age. Thus within these walls the valor of Washington attracts the regard of Conde: bis modesty Is ap plauded by Turenne; his philosophy draws him to the bosom of Catinat. A people who admit the ancient dogma of a transmigration of souls will often confess that the soul of Cntinat dwells In the bosom of Washington. "The voice of republicanism, which resounds- from every part of these walls, ought to please, above all. the defenders of America. Can they not love these soldiers Who. after their example, repelled the enemies of their country? We approach with pleasure those veterans whose trophies add lus ter to these walls and some of whom have gained laurels with Washington In the wilds of Carolina and Virginia. "But there Is something more due to vhe memory of Washington. It Is the union of France and America. It Is the happiness of each. It Is peace be tween the two nations. It now seems to roe that Washington calls to all France from the very summit of this dome: 'Magnanimous people, you who know so well how to honor glory. I have conquered for IndepVndenee. The happiness of my country was the re ward of that victory. ' Imitate not the first half of my life. It Is the second that recommends me to posterity. "Yes. thy counsels shall be heard. O Washington! 0 warrior! O legislator! O cltlzeu without reproach! ne who. ! while yet young, rivals thee In battles hall, like thee, with his triumphant bands, heal the wounds of his country. Even now we have his disposition.' his character, for the pledge, and his war like genius shall soon lead tweet peace. Into tb'i mpW of war." 9 Ataxia Cured by Dr. Williams' Pink Fife for Pale Peopfi it 2GS e Some 1-3 GREAT TABLET SALE LocomGlor whetheric, 2c, 3c, 5c, roc, 15c 20c or 25c, three for the price of two. You pay for two and get three. Special Sale on Mixed Paints. Great Re duction on all lines. Tins Sale to Continue Thirty Days. Hub Cicthing Building DfW'O IIDIIP OTflDC Ns. 104-106 North ICifi Street ill! i 0 UKUb dlUut PIANOS and ORGANS Picture Framing, Etc. The Celebrated Estev and Baldwin I Pianos ss Low as 105; Organs as Lovras $40 All standard makes and fully guaranteed. , It will only cost you a postal card to get full in formation and cut.. Let us hear from you. 212SaJSlS5igR?gg8sKA ARTHUR BETZ mm EVERY WEEK ON T UBS The Burlington have a Pullman Tourist Wide Vestibuled Sleeper leave Lincoln for Los Angeles without change and the price of a double berth is but $5.00. City Ticket Office Corner 10th and O Streets. Telephone 235. fin,t q) Write for ftcw W Hrt Catalogue (? Tree. ft It 1 4r. KscbamcaU? Correct. Operation easy, dork elegant. s "Che Smith premier Cypcwrtter Co, -S SrracUM. fi. Q. & H. 230. SAMPLE BOTTLE 10c. Kow long have you suffered wiih trade mark. oil the doctor, patent medicines, elretric rlH nnd hattorirs comUned, fT they cannot cure Chmnkj Rheumatism. Therefore waste no n:-re valuable time and money, but try "S Drops" and be promptly CUlftD. "5 Drops" is not only the liest medicine, but it is the cheapest, for a $1.00 bottle contains 3nn doses. Price per bottle, fl.00. prepnld by mail or express, or 6 bottle for f5.0n. Far the next 30 days we will-send a 25c sample FREE to anyone sendinv 10 cents to pay for the mailing. Agrnta wanted. Write txby. , . SWANSON RHEUM TIO CURE CO., 160-164 E. LAKE ST., CHICAGO. Read Premium This is the sworn statement of a man who was cured. " My lower limbs seemed to be dying losing . all sense of outward feeling. The most excruciating pains made me risnost "i'd with misery and I could not stand alone, I tried elec tricity with no avail. Several physi cians gave ins treatment which was not effective. One day I read of a man who had Locomotor Ataxia, and was cured by the use of Dr. Williams' Pink Pills for Pale People. I procured a half dozen boxes, and took them before I was convinced a cure was possible, and finally r.sed one box a week. My pains gradually disappeared, color came back to my flesh. I could walk, run and jump, and actually dispensed with a cane." Joei. Shoemaker, Editor Farmer and Dairyman, North Yakima, Wash. Subscribed and sworn to before me, this 3d day of January, 1S99.. ', James R. Coe, County Clerk. Dr. William' Pint Pills for Palo People contain, in a condensed form, all the ele ments uecegsary to give new life and richness to the blood and restore shattered nerves. They are an unfailing specific for such dis eases as locomotor ataxia, partial paralysis, St. Vitus' dance, sciatica, neuralgia rheu matism, nervous beauuche, the after-effects of la irrippe, palpitutian of the heart, pale and sillow complexions, alt forms ot weakness cither in mule or female. Dr. Williams' Ptnk Pitts lor Pels People are never sold by the dozsn or hundred, but always In pack ages. At all druggists, or direct Iron the Dr. Wil liams Medicine Company, Schenectady, N, Y., 60 cents per box, 6 boxes $2.60. Druggists Cut Prices. We Cut tbe Cutter's Prices. OFF All $1.00 Patent Medicines 67c All 50c Patent Medicines 350 All 25c Patent Medicines 20? FOR 2 All Tablets, Pencil or Ink. PIANOS and OkUANS I DAY AT6 P.i Burlington Depot 7lh Street, Between P and Q. Telephone 25. 0 $ a d in Improvements. ZU Ikat Value dinting Machine. Simplieit). a Cardinal Point. FOR NEXT THIRTY DAYS. mm- RHEMTISI ? flow Long Hare Yon Read About "5 Drops" Without Taking Than? Do you not think you have vrotcd precious time and fufTrrwl enonghr If o, then try the "S Dropn" and be promptly and permawntly cured ot your affliction. "5 Drops" In speedy and Sara Cura for Rheumatism. Neuralgia, fclatica. lumbazo Car.ic brv-k!. Kidney Dineasca. Anthma. Hay l-ever, Dyapepia, Catarrh of all kinds, Bronchitis. La Grippe. Headacha (nenroua or n.-urplicl. Heart Weakness, Dropsy, Earacha. Spasmodic and Catarrhal Croup, toothache, Nervount, 5leeplenesa. Creeping Numhneas, Malaria, and kindred disease. Drops" has cnre4 more people durirg the past fonr yeara, of tl iilxw-niimed di thaa all other remedies known, and In caeof Plieumath-m Iscurlnst morx thaa Offers; Page 3 I I - r --. J . t ' ' M. iMMfls ,w l - r