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About The Nebraska independent. (Lincoln, Nebraska) 1896-1902 | View Entire Issue (Dec. 7, 1899)
December 7, Iff 9.
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
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
."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
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
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
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.
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.
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
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
"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
"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."
GREAT TABLET SALE
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.
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
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.
q) Write for ftcw
W Hrt Catalogue
"Che Smith premier Cypcwrtter Co,
-S SrracUM. fi. Q. & H.
230. SAMPLE BOTTLE 10c.
Kow long have you
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.
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
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.
All $1.00 Patent Medicines 67c
All 50c Patent Medicines 350
All 25c Patent Medicines 20?
FOR 2 All Tablets, Pencil or Ink.
DAY AT6 P.i
7lh Street, Between P and Q.
ZU Ikat Value dinting Machine.
FOR NEXT THIRTY DAYS.
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
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t ' ' M.
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