" N (J January 10, 10CD. I72DHA0KA nZLrlaTDZJIlT. X ''mim4 7 1 i y it .4 11 Bailey's . Speech -on the Financial Bill. A UASTEEPIZOE OF LOGIC Intellectual Successor of John C. Calhoun. OPPOSES SIKGLE GOLD STAITDAED. Convlnel&jr Arsamenta la Favor of Fre Ceiva;e of Gold and Silver at ttso 014 Ratio-A. Kew Idea on the Babjeet of TrtExclaloa From tne Mali Sfcnator Hoar aad Dc-rorldxe. . . ' Special Washington Letter. Hitherto In these letters I have spo ken of the marvelous strength as a de bater of Joseph W. Bailey of Texas. His great speech on the financial bill is a new confirmation of the opinion I hare Ions held touching his vast men tal capacity. Lie is in our public life the Intellectual successor of John C Calhoun. His mind Is severely logical. His courage, moral and physical, is above proof. He's a Democrat from core to skin, and he stands by his prin ciples without the shadow of turning and . without considering" the conse quences to himself, lie is a man whom one could follow blindfolded on any question affecting the welfare of bis party or the honor of . his country. I not only admire him for bis brains and learning, but entertain fur him a deep personal affection. lie is only 3G years eld. If he lives to the psalmist's allot ment, he will rank with the most Illus trious statesmen who have adorned and glorified the republic. In the bouse there is really little chance for adequate debate, but if Bailey reached the senate, for which be is now a candidate, where there Is ample time for debate and a wider field for oratory, I confidently predict that during his first term he wHl be come one of the leaders of that body. Such men as Bailey constitute the hope of Democracy and of constitutional government. Food For Reflection. I shall offer no apology for malting op this letter largely front extracts from that speech, being absolutely cer tain that I could say nothing which would furnish my readers more sub stantial food for reflection. I wish I had room' for It all. Ilia splendid ex ordium was as scathing as anything I know of in the literature of political polemics, nere it Is: "This bill and the reasons which fcave been offered in support of it ex emplify the readiness of our Republic an friends to abandon their own posi tions nd to adopt the argument of their . opponents. 1 remember that three years ago. when one of the most talented men that ever occupied a seat In this hall, toward the conclusion of one of the most splendid speeches ever delivered on this floor, exclaimed that the Republican party has not yet de clared in favor of a single gold stand ard,' be was interrupted by many voices on that side declaring. 'And it never wllL The Record shows that Mr. Hardy and others responded to Mr. Towne's declaration thqt 'the Re publican party had not yet declared in favor of a gold standard with the con- fident exclamation. And It never wilir If It had been Mr. Hardy alone, I would not attempt to hold the Repub lican party responsible for his utter ance. But It was more than Mr. Har dy and it was more than any one or two men. If It had been only one oth er, the reporters of the house would have said 'Mr. Hardy and Mr. Had there been two or three, they might have recorded the names of all of the Interrupters; but, with a fidelity to the truth which does honor to the gentlemen who serve us In the capac ity of reporters, they recorded the In terruption as by 'Mr. Hardy and oth ers. because those speaking were so numerous they could not enumerate them alL I am aware that It does not embar rass my friends across the aisle to be reminded of these things. I have wit nessed the absolute Indifference with which they hear our accusations of in consistency. They declare that they aro ready to change 'their position whenever they change their minds, and that declaration does credit to their moral and political courage. But it Is not creditable to their wisdom that they so frequently take a position one year which the are compelled to aban don the next year. 'I honor them for being ready to change whenever they are convinced that they are wrong, but ! am not willing to trust them in face of the fact that they find It neces sary so often to repudiate their most 6olemn declarations. The fact of it is, Mr. Chairman, that our Republican friends have always been so busy studying the trend of events that they have never found time to study the money, question as a science. They know Just as much about it and they know no more today than they knew four years ago. which was and is noth ing at all. They study events; they do not study principles. They have long since accepted the shallow drivel, which some men miscall a maxim, that statesmanship is the seience of circumstances, and circumstances can not change more rapidly than they." Objections to Gold Standard. - Further along be discoursed upon the causes of the present status of things S follows; If UK'S "Our friends on the other side seem to think that they have completely an swered our objections . to the gold standard when they point to the exist ing good tiroes, and the burden of ev ery speech on that side has been that the prosperity of today refutes the ar guments which we made In 1S9G. Let us examine that question for a moment and 8-- e how much weight that method of argumentation ought to possess with Intelligent people. Let us recall what the issue and the arguments were then and compare them with the con ditions which exist today.; In 1800 the Democratic party affirmed that the an nual Increase In the production of gold was not sufficient to meet the Increas ing demands, for gold and that there fore the value of It was constantly en hancing. We contended, further, that as the value of gold enhanced the price of all commodities measured in gold necessarily decreased and affirmed that this was an Injury to the country. Our friends on the other side declared first that the low prices which then prevailed bore no relation to the sup ply of money, and then affirmed that an elevation of prices produced by an in crease in the volume of money would seriously injure the country. Three years have elapsed since then, and, while they have materially changed conditions, they have not affected the validity of our argument or yours. In deed these three years have afforded the people an opportunity to judge be tween your wisdom and ours. "In 1805. the year before we made the arguments which you are now as sailing with such vehemence and such a show of confidence, the world pro duced In gold and silver $307,000,000, and we declared that the whole amount was needed to meet the world's In creasing need for money and to satisfy the Industrial demands against those two metals. You said that was not true and contended that the supply of gold- alone was ample. But throughout this debate and without an. exception on that side we find you now rejoicing in the enormously increased production of gold. Answer me upon your can dor, gentlemen of the Republican par ty, if the $170,000,000 worth of gold which the world was producing in 1803 was sufficient to meet, the world's Increased demands for gold, why It is that you are rejoicing now because the production of gold has almost doubled? Do not these good times, which you as cribe In large; part to the enormously Increased production of gold, instead of refuting our argument confirm it? We demanded that the mints of our country should be opened to the free and unlimited coinage 'of both gold and silver, to absorb, if necessary, the world's entire annual supply of $307. jOOO.000. Today the accidents of min ing have produced, almost as much gold as the worid was then producing of both gold and silver, and yet not one of you will dare to tell the people of this country that the $300,000,000 of gold which the world produces Is more than the world requires. If over $300, 000.000 of gold is not more than the world needs how, how will you answer our argument made in 130G that the $307,000,000 of gold and silver com bined was not more than the wortd re quired ? Benefit of Free Coinage. "Gentlemen on the other side have spoken as If our position requires us to deny the effect of the great and sudden increase in the production of gold, bu nothing could be further from the truth. Indeed the reverse of this is true. We do not deny that the Increas ed production of gold has mitigated the distressing tendency toward falling prices. We go further even than that, and we assert that It has resulted In a slight elevation of prices. This does not conflict with anything that we have ever said; but. on the contrary. It es tablishes our contention both as to the cause of falling prices and as to the effect of rising prices. If attributed to j the discovery of gold, the present rise of prices proves that we were right in connecting the low price of commodi ties with the Insufficient supply of money. And the prosperity which has followed this advance In prices proves that wp were also right when we de clared that low prices make hard times and that good' prices would make good times. Whp we said would happen if our mints were opened to the free anJ unlimited coinage of both gold and sil ver you say has happened under the free and unlimited coinage of gold alone, but you cannot conceal the Im portant .fact that the production of gold alone Is now as great as the pro duction of both gold and silver then. I seems to me that the very results which you so exultingly ascribe to the discov ery of these new and richer mines prove conclusively hat we were right In 1S9G when we asserted that the world need ed more basic money Fn-ori Old Ratio. Mr. Dalzell Will the gentleman al low me to Interrupt him? Mr. Bailey Certainly. Mr. Dalzell Does the gentleman hold that the Increase In the production of gold of which he speaks has dispensed with the necessity for the free coinage of silver at the ratio of 16 to 1? Mr. Bailey I do not. Mr. Dalzell The gentleman still thinks that sliver ought to be coined at the mints at the ratio of 16 to 1? -I do." sail Mr. Bailey. "I will say this to the gentleman from Pennsylva nia: If the world could not only con tinue, but could increase the produc tion of gold until it was equal to the sum of $400,000,000 or $500,000,000 a year, then you would dispose of our demand for the free coinage of silver by supplying sufficient gold for basic money.- Our position on this question has been not the reshlt of any preju dice against gold or any preference for silver. We do not love silver because It Is white nor do we hate gold be cause it Is yellow. We desire to use both, because we, believe that, both are necessary to constitute a sufficient ur plj of real money. Give us that sup ply of geld, and you dispense with the necessity for the free coinage of silver, but that simply fulfills our arguments, and it does not refute them. 'I warn the gentleman from Penn sylvania, however, that he la about to Incorporate la the records of this honse the same false prophecies that were made in the years which have passed and gone. When gold was discovered in Australia and California, the world was advised that only one of the pre cious metals ought to be used for mon ey, and. true to their Instincts In favor of scarce ..money, , and therefore what President McKlnley has called 'high money they sought to demonetize the more plentiful and therefore the cheap er metal. When the commissioner of the United States to the Paris confer ence, Mr. Ruggles, urged the demoneti sation of silver, he predicted that the United States alone, bef o're the close of this century, would be producing $500,000,000 of gold and silver. It has so happened In the history of ihe world that every time some new and rich gold or silver field has been discovered straightway the advocates of scarce and high money rise up to prophesy that the production will go on forever. When I heard the distinguished gentle man from Ohio read from the great French economist. Chevalier. I was tempted to ask him If that authot- did not predict, following the "discovery of gold In California and Australia, that those mines would produce so abun dantly and continue so long that they would deluge the world with cheap money." , . '.; . , v . After discussing the bill most logic ally ' and thoroughly be closed with this eloquent peroration; "If you imagine that this season of prosperity, which, is due to causes wholly apart from politics, will destroy the Democratic party, you deceive yourselves. It has outlived panics un der its owu administration. It has out lived prosperous eras wheu its enemies, administered the government. It has outlived the rage and fury of a civil war. It has passed through the cruel days of reconstruction, and It will sur vive the taunts and jeers with which you now assail it. I am still a young man, yet I have seen it solemnly pro posed to disband the Democratic par ty. In 1872 the Democrats of my na tive state, as loyal and. as -devoted ns ever cherished the immortal. principles of Thomas Jefferson, had reached the point where they were ready to despair and yield, and a convention was called In Mississippi to consider the advisa bility of disorganizing the Democratic party. But even in that trying hour there was - a small though devoted band, in whose hearts the divine fire of the old Democracy was still' burn ing, to protest with a tongue of flame and a voice of prophecy against the abandonment of our time honored and undying organization. Their wisdom prevailed. That convention adjourn ed, and instead of sending abroad the gospel of despair they sent a message of hope and courage that still animates the splendii men of that great com monwealth." ... ... A Tnit Boater. ' . Divers and sundry statesmen are hot foot after the trust octopus. Hu- man .ingenuity is being exhausted in this titanic struggle because self pres ervation is the first law of nature. To Hon. John Wesley Gaines of The Her mitage district of Tennessee beiongs the honor of a brand new idea on the subject. I am not certain but what John Wesley has hit the bullscye. If he has. vast and enduring will be his fame. His plan is drastic enough heaven knows! If he can get it passed! and If the courts do not declare it un constitutional, it will cause a rattling of dry boues among the trusts, from the sugar trust down to the peanut trust. It is the same plan that killed the Louisiana lottery deader than, a smelt exclnsion from the mails! As the supreme court of the United States has solemnly decided that con gress has absolute power in that re gard. Brother Gaines would appear to be In town with his pocket full of rocks unless, when brought face to face With the question, that august tribunal should face about and upset the deci sions of a cvutury, as It did in the in come tax case. - So that Mr. Gaines, has two dangers to escape before he con quers the trusts first, congress may refuse to pass his bill; and, second, the supreme . court may take it Into its venerable head that after all. the pow er of congress to say what Is mailable and what is not mailable should be curtailed. Nevertheless Mr. Gaines' proposition will make difficult sailing for the gentlemen who want the votes of the hoi pollol and at the same time desire favors from the trusts. Honest men will wish Mr. Gaines well. Hoar and Deverfdse. Young Senator Beveridge of Indiana on Tuesday delivered himself of the speech which he has been incubating lor months. Senator Hoar didn't do a thing to him. Oh, no! In about 40 minutes he utterly demolished Bever Idge's "glass house." ne hurled dor niclts through it till the holes were nu merous as the sands upon the seashore or the stars of heaven and then, to show his supreme contempt for the Hoosier's eloquence, announced at the close that he wasn't making a speech then, but would do so at a later date. Senator Beveridge's speech, elaborate in scope, polished in language, may be all summed up In one. sentence. "The Filipinos have a marvelously rich coun try, and we must take it by the eagle's claw and the lion's paw." The al mighty dollar Is the be all and end all. Justice to the Filipinos and the preser vation of the American republic are not worthy of consideration. Slarr Jaae's MUtalce. - Mrs. Felicia Rivers Dear, deart I can't imagine what is the matter with the piano. Every, note strikes out of tune. v.. - V'.y ;v . Mary JaneBe that the pianner, mum? , a ' Mrs. Rivers Yec Why? , Mary 'Jane Gracious, I thought it wuz the safe, an I put the meat and vegetables in it this mornin Tit-Bits. . Paradoxical. " "''? '','.'.. ' "He's a thorough pessimist." " :." ;'; "What do you mean by a pessimist?" "Why, a man who doesn't believe there is any true satisfaction in life." "Then he Isn't one.' Anybody who gets as much satisfaction, out of being pessimistic as he does couldn t be a thorough : pessimist." Washington Star. - ' m- ' Fate Again. .... When he was young- and poor he had A monstrous appetite " His fare was plain and he was glad To jrrab hasty bite. To-day he la a milionaire, But oh his lot is toujrh II orders rich and costly fare, . And cannot eat the stuff. , - ' Chicago Times-Herald. . one: op the family. Arthur Q. Bunco Where do you live when you are at home, Silas? Silas Dewey Ter hum. of curse. Where'd yer s'pose? Harlem Life. ' 5onbt. When ycu get the news of battle; when you he8r about the way Some gencrs.1 has routed all th foemen In t.h& ffsyt 'Twill not Jx v.n impropriety for you to pause "and thfuk " - - Did he do it with artillery or just with , p-jn and ink. Washington Star, MUtalce Out Somewhere. Euhmobr I have just met Bray; he is dreafully angry with you. Okie Tyhat about? Rahmohr Ite says j ou called him a well-meaniiig idiot. " Okie There must be some inistake; I can't remember saying "well-mean-insr.' Tit-Bit?. x - , To .See., the Procei. WeeJSdith was sitting near the bank of -o'neof our large rivers, looking very disconsolate. "Ob, dear!" she sighed, "the geography says this river empties its waters irto the ocean, and I've watched - here two whole days and it's just as full as it ever was." Judge.' .? t " " 1 "' " ' :i . One Man' VIevr of It. "This paper," said Mrs. En peck, "Hells of a man who actually forgot he was married." ' - ; Memory," retorted Mr. Enpeck, "is a good thing, but there are times when forgetfulness is better." Chicago Daily Jfews. ' Traveled on HU Face. Mrs. rium What an honest face your boy has." Mrs. Glum Don't say that. " 'Why not?" "Why, the conductor may hear you and he'll charge roe full fare for him." Yonkers Statesman. How the Rumor Started. First Gossip Maude sat up half the night with "David II arum." Second Ditto Maude sits up half the night with a man. She. must be en gaged. 1 Third Ditto Maude is soon to be mar ried. N. Y. World. t . Foolish Maa. Bessie Goodness 1 gracious, Mabel I What. are ycu crying for? ? j Mabel George proposed to me last ' night, and I refused him boo-hoo! and the silly goose .th boo-hoo-hoo! thought I meant it. N. Y. Journal. Decollete. ' "She says she hasn't worn half her new gowns yet this season." "Indeed? I should have said from her sppearance that she -was in the habit of wearing just about half." Chicago Post.t - v-. v ' Meant Well.'",.' :':?.'-" "This is my profile, count, and this is a front view." ' r - "Ze photographs are peautiful, my dear young lady How--how charm eengly two-faced you are!" Chicago Tribune An Oriental Cynic. "Marriage," said the proverb quoter, "is a lottery j ' "Yes," answered the sultan of Sulu, as he sadly waved his hand toward the harem, "and there's a bunch of blanks." Washington Star. . " - . j - ' A Terrible Talc. Yeast This, breaking in a pair of new shoes is terrible work. i) v ' . ' Crimsonbeak And yet it isn't con sidered as bad as breaking in a house. -Yonkers Statesman. ' , DEAUTY, M CONQUEROR BELLAVITA ArBontc Beauty Tablets and Pills. A per fectly safe and guaranteed treatment for all skia disorders. Restores the bloom o! youth to faded faces. 10 da?s' treatment 50c : 80 days' $1.00, by mail, fend for circular. Address, hRVTTA MMHCAL CO.. Cttstoa Jacfcsoa Sta CkfeafS Sold by Harley Drug Co., Cor. O tod 11, Str., Lincoln, Nebr. 0.10VTII OF OTUAL i'&JBAKCE . ' . . , . fix-Governor Holcoinb Retires From the Presidency of the Nebraska Mer cantile Matual Insurance1 Company. : " The annual meeting of the Nebraska Mercantile Mutual Insurance Co., cne of the prosperous companies of this city, was held at the ofSce of the company oa Jan. litlv 'f ; .'. ' ' J . vv:" ' -f. . : -' Gov, Holcomb, who has been president of the company ever since its organiza tion, retired on account of being elected judge of the supreme court and "Judge E. M. Coffin was elected as president for the ensuing ysar; W.-B. Lynch, secreta ry; Dr. B. L. Paine, chairman of the ex ecutive committee; Dr. C. E. Coffin, treasurer; E. M. Bartlett of Omaha, vice-president. The old office force was retained. ' The busines of the company was thor oughly examined into. , ; , Number of Amount of Policies. Insurance, Insurance written. ' " during Dec. .... ; 397 $ 329,191.00 Insurance written . during year 1899 5,024 V 3,809,229.00 Net insurance in 1 ' i rce . .... 6,841 1 5,005,721.00 Insurance written ' Lincoin in 1899. 1,105 759,270.00 The premiums from the city of Lincoln during 1899,88,156 .53. (It is evident that the people of Lincoln are patroniz ing this company. Of the total business written in Lincoln, year 1699 $1,425,755 was dwelling house.) 4 The auditing committee report as fol lows: ' v " v To the board of directors, Nebraska Mercantile Mutual Insurance Compa ny, Lincoln, Neb. ' : " ' : Gentlemen: Your auditing committee respectfully reports as follows: We met at the offices pf the company onTuedays January 9, and on that day and the day following, we checked up and verified the journal, the secretary's receipt book, showing moneys turned over to the treas urer, the treasurer's cash book, the. treasurer's bank book, tthe treasurer's checks and check book, the treasurer's disbursement ledger, and all vouchers on file, and have checked them each against the others. " ; ,, ) Hayo also audited, checked up ; and verified all accounts entering into the annual reports of the general manager and treasurer, and. have checked and verified in detail the various items ap pearing on the various statements hereto attached, and have found everything correct. V ,This examination has ' extended through the entire year, closing with the 30th day of December, 1899. J . Respectfully submitted, Geo. L. Loomis, Fremont. IJ. M. Taggaet, Nebraska City. . Jas. II. 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THP PACLOR 5EM action coasistsor tho Cr'.cbrated fivireii RfmU. which are oaiy nscd in the high, est rrrade Instrument's; fitted wish Ilaxstond i'oajlrr aad Vex Hamanx, al;o befit bolrre felts, leathers, etc, bellows f the best r-.ibber cloth, S-plr bellows rlocfe and f inert lthiir vnlvcs. THP 5iRLO(? CElM is furnished with a lOxli beveled pata French noirror, niokel piated twdnl frames, ana every Huoaero lrarrovcraent n rurslsa free a haadc4Mv.ergaa atool and t beat arfaa taitraf tVa boak pablisbm. GUARANTEED g5 YEARS. 1ui)m a. wrif.tan bindinsr id-vtar CTiai aj.tce. by tho turiMuiil Mnditiona at whioh if unT taart cive out mm,ru.i it f. .f ham. Trrit ono month and we will refand your raonev if yon are not perfectly satisfied. MG of thee organs wiil be old at $33. SO. OIiEU AX cur? dealt i Katlont or German railroad kit I one and PiaSOS, el Ik. OO and apt a!go eTwything In jnnr ical iBrtmnent at iowp't wholesale prleea. Write for frr sm j orcan.piaoo and musical Inetrn ment catalogue. Addresa, - (Bear, KfcekfcC3. era tharacflily wtUahit. 5! KUU J FoP$.50 OF THIS OFFER. PIANOS end ORGANS Xmprorcrmnts. . , Cbc Best Value SiCriring ach(nc Cardinal point THE WITH fifiDCSI.eat tbU ad. out aiui send to u a.nri -we will Kt-nd you CUR MQH nn 11 loaao rrlxs. t? ' s BLHD1CK U . r.T J . K.v MBHSm Herald wis tu" - m -mnm,.Zm " mmm mm M J1.J SOLID QUARTER SAWED OAK 5BCP DESK Wf!ET..TWiAL , ii i.i. .i ii a i ii ni vni IJJUOH ftUUU BMWV Ul WtH V clwl head clroppiDg from eisrht) to be orcd as a ubla, ataaU r dfik, the otfaeropeawith fu!) ltri(.h table and bead 1b place for toosred and defioraled cabinet finish, finest nichcl drawer tnrlla,'rtta ca four ' casters. d juetable tresdie. frenuineKmyth iron Btant rintrnt argm Hh Arm aao, pomtire iour Diowun leou. seit tf rpaitjng Tilirntinlf fettie, automatic bobbin wirvier. adjustable bearinjrs, patent tension liberator.improved louaa wheel, ao.iostabie preaure foot. itnurord 'ii'.it.t.l .o.-rHr .bntKMrii. be-as hniKinonely drrnfa.ted aad orscmeaiea aad Waaufollr Ml T ft . I -V- . Tm . I . , . . . it anrabla aaa aearMt y . I M r r"l mi. Vm. T . f irry caowa attacbiaeiit is faraixira ju3t howaiiroae can ren itand do "thr piaia r ary ' ff with fVKr ifc Afhlaa. ' if a 80-Tars' BinaingCaaraiitecia cent with every at ichUe. m-m. m- tm lam aatf Hi?, f l 1 W. 'iy :V7 WftvV' l..nn. t lS' .win- . j - a . and iVKm JttAia-atotf'". oa ewr Da' ta tit . M V. 3t..-' aa4 UlUAbLC paaei Doay, (L, j3 f A- r V ': ' V J! I u. ..r-V,: "i5',,, y mi . mil :