(Ml Piftlffiill raw :
VOL. XI.
LINCOLN, NEBRASKA, APRIL 19, 1900.
NO. 49.
if
w
J
f
ECDDLE FOB BAEXERS
Xr. iUfcwi Cmpm r Law to E
WfTkniUUtJUw TkiaTvnit
Per l lavMUant j
enorsona amount of boodle I
voted to tfe national bankers by the!
present eorrre Is almost beyond be-j
XleL Aay snaa of common sense who I
knows eaoega f arithmetic tn divide ;
1W by V'os that U will run
op
lata ta- million. If any five persons I
!
can get the control of Ilfr0y3 for a
Tew Lfcy and have besides that $5,003
of their own they can establish a na
Usaal bank and draw interest on $2wg-
&f. They uct la SCJ&06 and draw In-1
Rarest a $200jfy0- Thi boodle Is
prominently advertised In ' t lie great j Now that is the circular cent out by
financial .xaraal of New York and tils reputable firm. The accountant's
by the brokers of thai and tier cities. WT ?f stating the fe-rta may be some
t fc . .t,..t r wlit ccnfuala; to tin average farmer,
.t l rot the ta.ement of crazy Poplbut tLe of lt K that by buying
or frca 3tt lanatics, but of the great bonds on the market at the present
financial capers and solid house of 'high premium and infesting in the
UaH rtt la a recent issue of the I optional banxlng business there is a
Jocraal of Commerce and Commercial
Bulletin, there Is a fall statement-of
all the farts ia the case for the bene
fit of investors. Ttla statement em
braced a efrraiar tiied by a large
brokerage firm making a tpedalty of
gjoremsent bonds. It was eeat to
bankers thronghotjt the country and
stowed the immense profits under the
republican law in the bank note circs
latioo wbien profit comes out r the
poekets of the people.
"FolJowtcg is an extract fros that
Among Its other attract! re featares
tie bin provides for the Issue of new
2 per cent thirty year gold bonds, the
redactlca i per cent per annum
fa the tax a eirr&latXoa where secured
by these bonds, the issoe of notes to
tve Zzll ace value f the bonds de
posited, aa4 the right to increase dr
mlatloa at any time by repeal of the
restriction wnich baa beretofore pre
nted ita iaereajne entll the expiration
of tlx tenth from the last decrease la
ctrmlatloa. ,
Many balLS haTe alre&dy Increased
tkeir holdings of the old issnes which
are to be refeaded Into new 2 peri
... cents, and, while there has been a ma
teria! adranoe fa the price of all gov
ernment bonds daring the last few
days, they are still obtainable at price
saking th new two very attractive
as a LfetU let drrslatioa.
At the present price every dollar
Invested la clrcniatloa win realize
i3 peyjrent per tssm.
P la n ether way can sach rates cf
Interest, absolutely free from risk, be
re; and It behoove the bank to
art promptly ia order to secure the
fall antage of the transarticn.
W appea4 comparative table show
ing iht resvslts f circulation baaed
npm the new 2 per rents at 1&, 187,
and Xfre. with money both at 4 per cent
and i per eat. The relative prices
cf the thrte.- -foar- cf 107, and
Tve" with the "tvofc" costing as
'above are ait shown.
TWOS- A7 1W.
TxM showing the percentage of in
cone realized oa the actual cash 2a
vewzacat: ..
12 -twos- wesid cost at
114 .1. 1&,OO0
Leaf cirmlatlofi issued against
si've 100.003
Act sal cash Investment 1 COCK)
Oa which tacose wonld be received
as fsllcw: , -
Internet a f "two- per
anflera ..... ......... 12,000
Le tax li per cent
JS00
Less rinkng faad to retire pre
mise, to be traproved at 4 per
eectl-37..
Lew expense, cost of printing,
etc 103
ro7
Cet Income $L232
avsalvaSeat to 2LS5 per cent a la
etist of $,0.
WITH MONEY AT S PER CENT.
Percentage of income realized on the
actcaj cash favettment. ZZ per cent.
RKLAT1YE VALUES.
W1a -tree.- llLSt.
l:h mtanxT I 127. 117.10 ex
Arit tsterest.
With -five," 1IC-CS. i,
-Tw- txm ic. --sriy
, ,TWOS AT 707.
Table ft&swtrg the percentage la
come realized a the actnal cash ia-
TetT3ient2 '.. . ' -
imjm -two- world cost at
U7 S197X0S
Less circulation lathed against
ar
lSO.QA
t i ftil
Actual rata isvestseat
Oa which income would be received
W .- w j
a foBew:'--'
later-sat a 1iQj&m0 -two" per
annum ....... $2,000
Less tax H r"t ..-...-f 00
Les sinking fund retire pre
mium, to be imj.-9ved ' 4 per
rent 125
Le expense, est f printing,
etc 103 723
Net IneMs ...$1,275;
., EcxivaJest to 1S.21 per cent a la- i
TearsKSt cf S 7.S. i
WITH JtONET AT t PER CENT,
perreatage cf Incase realized oa tie
actis.il rasa investment lUr per cent.
RELATIVE VALUE.
Wlis -tsre,'' JllzSi.
Vntlt 'rfwra-f 1&37. MM ex
April Interest, , -With
-treC JI7XS.
T : od 1SX 5U2
TWOS- AT ICS.
Table thoe-fag the percentage of In
come realized evth actual cash in
vestment: -twos- wonld cost at
ICt I1C 5,000
Lea cfrralatSoa lasned against
same ...... ................ 2.09,000
Aetna! ash i&ves&seat ...$ 1,020
Oa which Income would be received i
! as fellows: . i
Internet on JIM, 000 -two per
annum -.
Lea tii percent .......$509
Les sinking fund to retire. pre
mium, to he improvea at 4 per
; i cent - .143
Lees expenses, cost of printing.
etc. . 100 743
. TTTT
Eonlvalent to 1571 "per cent cashing ''
.-ex income . i,.;
vestment of $ 8.000.
WITH MONEY AT 5 PER CENT.
Percentage of Income realized on ac
tual cash Investment of 16 per cent.
RELATIVE VALUES-
With -threes," 113.38.
With -fours,- of 1507, 119.S0 ex
Arf! Interest.
With -fives,- 11 S.6S.
Tos cost 108.
certain protit or atout so per cent on
i the investment.
I Is ttere a maa in these United States
who can believe that permanent pros
perity can be brought about by en-
abllng the bankers to get twenty per
cent cn all the money that does the
business of this nation? The average
increase of wealth for the last fifty
years ha been about three per cent.
It simply mean that there will be the
greatest panic in the near future that
the world has ever seen.
ARID LANDS IH NEBRASKA
Cf r P rater Favor State Ownership
la Frelerea- te ealiig- !: Hational
The stock raisers la the western part
of this state are conxiderably inter
ested In the final disposition of the
arid and semi-arid lands in that section
of the country. The national govern
mea has decided that some disposition
must hr- made of these ands as they
are now handled at a loss to the gov-
prefer to have the lands handled as I
they are now, but a that will not be.
the question com1-? to which they
would prefer which would be best
for all concerned leasing by the na
tional government to - great corpora
tion and syndicates that would be
tXoraaod Immediately for that purpose.
or a system of state ownership."" Gov
ernor Poynter has given the matter
some attention and study and concern
ing tb matter says:
Editor Independent: Many of our
western stockmen." especially what are
known as the small stock men, are
opposing state ownership of our west
ern grazing Uod upon the theory
that they would prefer the conditions
that. cow exist- If these conditions
odd continue It would probably be
a good for our small ranchers and
stork men as any other, but these con
ditions are not going to continue.
The Interior Department has deter
mined to dispose of these lands because
they are now handled at a loss to the
government. The question is then,
whether our people would prefer gov-
jemment leasing, which we know
would mean the eontrol of these lands
by great syndicates, or some other sys
tem of control. With this understand
ing I have been favoring the cession
of the public lands directly to the state.
I believe our own stafe legislature
could devise law for the control of
these lands should they be given the
state, which would be better for our
people than any system of govern
ment Uaalng that could be devised.
We are facing the alternative, it
seem to me, of a system of govern
ment leasing, the rules of which must
be uniform and applying to all the
grazing; lands of the west, cr state con
trol under laws made by the various
state legislatures to suit the conditions
of the respective states in which these
lands are situated. As between these
two systems it seems to me our people
would favor state control.
Very truly yours.
: m W. A. POYNTER.
SprecUss Bets His fioocle
The contract for carrying the mail
from Sea Francisco to New South
Wales and two intermediate ports has
been awarded John D. Spreckels, the
j -gar kinK and practical owner of the
Hawalin Islands, for ten yea-s at $16.-
000 for the round trip, and seventeen
trips a year. That makes $2,320,000,
being twice as much as the wages.
fuel, repairs and provisions for the
whole ten years amount to, on the
basis cf the present cost of a rcund
trip. A the end of the ten years
Uncle Sam has nothing John D.
Spreekela will still have his ships,
all the profit on cargo and passengers
I and the handsome balance of a million
or mere from the government. It
would break John D.'a heart and ever
lastingly wipe out the republican party
for th3 public the government, to
build, own and operate it own mail
ships and carry freight and passengers
at a trifie more than cos Far better
build up John D. Spreckel family,
make them still more mllllonairish
than they now are, than that the peo
ple shuld carry their own mails and
freight and persons over the ocean at
cost. That is the republican idea.
Pittsburg Kansan.
WHAT STATESMEN HAVE SAID...
Taxation without representation is
tyranny. The position i founded oa
the law f nature. It I more; It is
Itself aa eternal law of nature. Lord
Camden la debate oa the Stamp Act
repeal, 15C8.
TELLING THE TRUTH
An Episcopal Minister TV rites a Letter to
- the English People Telling Them Hew
Americans Feel Aloat the War -
Rer. F. B. Nash, Rector of Trinity
Episcopal church, Newark, Ohio, re
cently wrote a letter to the English
people, which was published in the
Lndc,n Saturday Review, making the
fairest and most concise statement of;
the position of the American people j
unon the Transvaal war that has vet I
upon tne l ransvaal war that has yet
appeared in print. He tells them first
that neither the great dailies of New i
York nor the post prandial speeches of
rich Americans either oh this side
or in London, represent the sentiments
of the people." He says that practi
cally the whole of the agricultural pop
ulation, which to begin with exc --is
forty per cent, denounces the war upon
the Boers. - To these must be added
nearly the whole of the foreign pop
ulation in the cities, especially the
Germans and the Irish. He declares
that ho believes the statement of Sen
ator Hale to be true, that nine out cf
ten of the citizens of this country are
in sympathy with the brave and gal
lant Boers in their fight for their
homes, their wives, their children and
their independence. Then he adds:
"That the Boers are a Christian and
a civilized people is shown equally by
their conduct of " the war and " their
humanity to the wounded and pris
oners. To question the first is to judge
yourselves so far, as they are at any
rate your equals as warriors; and to
question the last is an absurdity in
view of the contrast between Elands
laagte and Nikolson's Nek. But when
you have overwhelmed in blood and
ruin this gallant little people what
then? You have bitterly offended the
moral sense of Christendom, and
made an impossible situation in South
Africa, and a blood feud. What for?
To add a few square miles of rocky
barren and a gold mine; a few sullen
subjects, and a new Ireland, to an
empire already too gigantic for Brit
ain to safeguard or justly rule; Your
Indian responsibilities alone are
enough for your powers.
Tnis brings me in orderly sequence
to the last indictment against you of
tninamg Americans. ,e would see
the British Empire maintained for
many and good reasons. Your present
course is suicidal. Already you have
made it clear to the world that your
army If unequal to the vast task im
posed, should it be seriously tested, as
it may readily :be and soon. We feel
outraged, speaking reasonably, at the
frightful risks to the world's peace
and the splendid usefulness for all
high ends of your great empire,' th-t
must issue from this unworthy aim
before you of conquering the valiant
Transvaal; an aim well characterized
by your own Nonconformist clergy
lately aa "A scandal to Christendom
and civilization. It -is because of our
thorough respect and veneration for
all that is best and noblest in British
character and story, that I venture to
state thi so strenuously. It needs and
deserves statement and resbitement.
Hence I hope you will courteously pub
HsL tbb American protest, or rather
answer to your own remark. We
would be bound to Old England in the
sincerest bonds of amity and mutual
helpfulness, and we recognize the spe
cial ties of community in language,
literature, religion and civic ideals.
We are proud of all these and would
have them grow ever stronger, ana our
friendship ever more fraternal. But
so ilso do we as sincerely desire to
cultivate peace and friendship with
all European nations. We recognize
our, debt to France of old in particular,
and to all the Continental peoples In
general, markedly to Germany. There
fore we will make no foreign alliances
whatever. After-dinner speeches in
New York and London may come and
go. and editors with or without con
victions may gush as they please about
so-called "Anglo-Saxonism," but every
serious mind in America from Maine
to California knows perfectly well that
any political party that proposed an
intimate alliance, whether for defence
or offence, would go down into instant
ruin. I have, sir, the honor to be very
respectfully yours.
WORSE THAN THE SPANISH
Frer Since McKlnley Sent Orders to Shoot
Filipinos aa Bandit Horrible
Stories are Told
Corporal Leonard Mygatt, of the
Twenty-third Infantry, now in the
Philippines, has written a letter to his
sister, Mrs. Henry A. Powell, wife of a
well known Brooklyn lawyer, in which
he alleges, that eleven Filipinos were
shot down after a drum-head court-
martial for the murder of two Ameri
can soldiers. Mygatt is attached to
Captain Cloman's command, now sta
tioned at Bongas.
According to Mygatt's letter, he was
sent out from the military camp on
January 20 with four companions, Ser-
genat De Wolfe and,. Privates tireat-
house. Carter, and Gibbons.
He says the little party was treaclv
erously set upon by the Filipinos on
the coast of Tawl-Tawi.
De Wolfe and Carter were killed,
and the others made their way back
to camp. Mygatt asserts.
Mygstt states that as soon as' he had
related his story an avenging party
wa3 being formed, and in less than
four hours forty men were embarking
in their boats - for Balambing. The
party landed unexpectedly in the rear
of the village.
Mygatt declares that all the men of
the village were summoned,, and that
one, who -tried to escape In his boat,
was shot and was brought in dying
and laid before Ms fellows as a warn
ing. A sort of drum-head court-martial
waa held and after. the night's in
vestigation eleven mea were picked out
as the guilty -ones -who were in the
party that inurdeifed the soldiers,- says
Mygatt. I recognized some of ; the
men and their confession implicated
the others.' r -V i- -
The next; morning the captain or
dered a guard of men to take the pris
oners out to work. " - -
-'We need wood for our fires," he
said. 'Don't let aay of them escape.
With their handa bound behind their
backs the prisoners were led away Into
a ume in the jungle,
A soldier sprang forward. 1 claim
the first shot,- he shonted.
- Ton deserve it, came the answer.
His -magazine and chamber were filled
with filed - cartridges so that they
would spread 1 when entering an ob
ject. - "
"A sharp eract rang oat, Instanly
twenty-nine other rifles spoke. Then
came the rattle nt -shots like rain beat
ing. Ia tea seconds 300 shots were
fired into the prisoners -
-The sergeant ;bf the guard came
running out to Inquire into the cause
of the shooting. The man in charge
of the detail replied: Sir, the prison
ers tried to escape and "the guard fired.'
"An eleventh prisoner : was sent to
get the stolen property which., was all
recovered. -- Do not let him escape."
were the sentry's orders, and he did
not escape.--N..Y. Journal.
BRITISH PAUPERS
There are Hundreds ofThowsaads of Them
la the .Halted Kingdom and
' Millions in India
From - data supplied by the Local
Government Boards la England, Scot
land and Ireland, it is -learned that
the number of paupers relieved in 35
"selected" arbaa districts of the Unit
ed Kingdom on a single day in the
second week .in February was 338,677;
In only a part of Great Britain there
is a hungry army- cf men, women and
children, nearly twice as large as the
army of British soldiers in South
Africa. This .is aa alarming situation,
and the view is even more startling
when it is remembered that pauper
ism never existed in the Transvaal.
The number of persons - relieved as
above was- 5,296 less than were re
lieved in one, day ia February, 1S99;
but 4.S52 more .than were relieved In
a day inJanuaryi-lSOO. T'rom "these
comparisons lt is difficult to determine
whether or not "the conditions are bet
ter or worse -since the .war, began.
They were tetter In February this
year than in February last year, but
worse in February this year than in
January, the previous month.
In London 106.598 persons were re
lieved out of the total of 338,677, there
being five districts ia London.
In 20 different districts in England
167,720 persons were relieved. Of
these 17,465 were relieved in the Liver
pool district,'-16,333 in the Wolver
hampton district. - and 16.2S1 in the
Manchester district..
In six districts In Scotland, 38,187
persons were relieved and in four dis
tricts In Ireland 26,172. Glasgow dis
trict had 19,187 relieved persons; Ed
inburgh and Leith. 6,994; Dublin, 11,
634, and - Cork; Waterford and Lim
erick. 9,609. -
These figures are takea from the
March, 1900, issue of the Labor Ga
zette (page 94). ;
A financial system that produces
these results Is what the imperialists
and gold standard men in this country
have called that of "the most enlightened-nations.-
They have now given
it in this country tha validity of law.
Its' results here will be the same Pau
perism will continue to Increase just
in the ratio that the concentration of
capital in the hands of a few goes on.
Any one who will stop to think for a
few minutes must see that it coula not
be otherwise. Here In Lincoln, the
records of the Charity Organization
society shows that there are about 300
pauper families. Considerable over
two hundred and fifty have received
the care of the society during the
winter. The number steadily - grows
year by year and it will not be many
years under this system until we shall
Indeed be upon practically the same
footing a are the muper breeding na
tions of Europe. The same system
here win produce precisely the same
results. We must . make up our minds
to that r we mast change our sys
tem. ' ' r- .
Six Great Steals
The first ef these great scandals was
the beef contracts. .The second, the
scandal growing out of the purchase
of severarcolliers, as In the case of the
Merrimac The third was ia the pur
chase of transports for the Atlantic
coast war.. These cost the government
In round numbers $8,000,000 and $5,
000,000 for repairs, a total of $13,000,
000. -
The fourth was in the chartering of
army transports. The total amount
paid f oi this service was approximately
$8,000,000, aad the amount of repairs
was nearly $3,000,000.
The fifth opportunity was in the pur
chase of clothing for the army.
The sixth was in the naming of de
positories for gevernment money, as
in the case of. the City National Ban a
of ; New York, the North American
Trust Company In Cuba and others,
whereby vast sums of money were
unnecessarily paid out by the govern
ment... . .
Aad lastly it is proposed to give the
ship owners $9,000,000 annually
throaga the ship subsidy bin.
BRITISH TRADE
That is What Has Followed Oar Flag- Into
the Philippines to the F.nr i-chmen t
of Kaglaad
It Is just beginning to dawn upon
the stupid imperialists of the manu
facturing districts of New England
that it is British trade that has fol
lowed our flag into the Philippines,
instead of the trade of this country.
We are not able to supply our own
soldiers aad sailors fighting there with
the necessities of life. Our, army and
navy there are fed on" beef and pork
from Australia, butter from Australia
and Holland, and potatoes and beans
from Australia and Japan. The
clothes worn by officers and mea are
purchased in Hong Kong all except
the. shoes, and; they could be bought
there cheaper than they can be made
In the United States. The seventeen
big transports in government service
on the Pacific cost the 1 government
about $1,000,000 apiece for purchase
and repairs, and from $900 to $1,300 a
day for coal and expense of navigation.
We dont even furnish the coal for
these ships. That comes from Eng
land, for only Cardiff coal is, suitable
for their use; " And with these great
transports plying the Pacific ocean aad
able tc carry food aad clothing with
out any charge for freight to our
armies ia the east, it is still cheaper
for as to buy our supplies oa the other
side. Apparently the only trade that
has followed our flag is British trade.
It is a well known aad undented fact
that when the American commission
ers, went to Paris to conclude the treaty
with Spain there was no thought of a
demand for a cession of the Philippines
to the United States aad the demand
was not made for a month after the
negotiations began. In the meantime
the English diplomats had obtained
control of McKlnley and Hay aad the
demand was made. It was all for the
benefit or English trade and the angli
can snob who runs the state depart
ment backed up the English demand.
THE KAi:iA ASSESSMENTS
Tbs IVetter Making: Assessments on the
Great Trnsts XCasBeen Intercepted
aad Made Public
The enormous campaign fund the re
publican party expects to collect to re
elect Presideat McKialey is Indicated
in the following: table:
A letter carefully prepared at a con
ference between Senator Hanna, First
Assistant "Postmaster-General .Perry
Heath and the moneyed members of
the republican national committee has
been sent out by that organization.
This letter calls attention to the
profits the trust - manufacturers have
been able to secure aader republican
rule in the past-aad points out that
to enjoy .them ia the future the re
election of President McKinley is ab
solutely necessary.
The letter then calls attention to the
expenses of the campaign, which, it
says, will be unusually large because
of the strength the democratic party
Is developing in all parts of the coun
try.
The letter has' gone only to the
greatest and richest trusts, the smaller
concerns being reserved for a squeeze.
The evident and Increasing strength
of the democratic party caused the con
ference to be called many weeks ear
lier than usual.
It also caused Senator Hanna and
the others to decide to raise $2,000,
000 more than has ever been paid into
a campaign fund ia the history of the
country.
The responses-to the letter will be
sent to the national committee treas
urer, James G.' Cannon, of New York.
The assessment upon the large pro
tected trusts was as follows:
From Carnegie, the Federal
Steel Company and " the
' other members of the Steel
and Iron Trust .$1,500,000
From the Standard Oil Com
pany ond the branches of
Trust 800,000
From" the Cramps and other
members of the Shipbuild
ing Trust 500,000
From the American Sugar
Refining Company and
other members of the Su
gar Trust ................
From the American Tobacco
500,000
Company and other mem
bers of the Tobacco Trust. . 450,000
From the National Paper
Manufacturing Company; ,
and other members of the
Paper Trust 200,000
From the National Biscuit
Company, the Cracker
. Trust 150,000
From the American . Wool
Company .... ... ......... 150,000
From the American Lead
Company, the Lead Trust, 200,000
From half a dozea smaller.
Trusts and highly -pro-"
tected" industries 1.750,000
.Total
..$54100.000
Sana Old Trick
The American Lumberman, pub
lished at Chicago, prints a somewhat
interesting item on the first page of
its issue cf March. 31, as follows:
Politics is beginning to boil, and
while business men generally, do not
anticipate any change In the adminis
tration next fall, unless some maa radi
cally different from W. J. Bryan shall
be the opposing nominee, at least one
concern is guarding against contingen
cies. A prominent Wisconsin lumber
manufacturing institution, which
handles a large amount of merchandise
aad along about this season places
heavy contracts for goods to be de
livered during next summer and fall,
is attaching to all its orders the fol
lowing provision: "The N. C Foster
Lumber company to have the privilege
of returning all or. any part of the
goods on this order, and amount paid
for same to be refunded, in case W. J.
Bryan is. elected presideat of the
United States ia November next.- This
is placed by rubber stamp on 'all con
tracts the company makes.
Later on. no doubt, other concerns
In the lumber business, tinder control
of ex-Secretary Alger, and in other
businesses ander control of various ad
ministration, will . attempt to revive
the bulldozing and scare policy which
terrorized many workmen in 1896. It
wont work this year, however.
The farmers of Nebraska should ab
solutely refuse to buy one foot of lum
ber that the N. C Foster company has
handled. Steps are being taken to find
out where this lumber is for sale so
that all purchasers may refuse to
touch it. There are other lumber deal
ers outside of the Alger combine who
are honorable men. Bayof them. - -
TRIBUTORY SLAVES
McKlnley I ot Fmperor of Porto Rico.
He is Ctar and Holds Everything:
la His Hands
Foraker, Mark Hanna aad their sub
servient tools ia the seaate aad house
have set up the biggest pie counter in
Porto Rico that, was ever set up on
this continent. McKinley 'appoints
them all.
A governor at $9,000 a year.
A secretary of the council at $4,000
a year.
An attorney-general at $4,000 a year.
An insular treasurer at $5,000 a
year.
An auditor at $4,000 a year.
A commissioner of the interior at
$4,000 a year.
A commissioner of education at $3,
000 a year.
A chief justice of the supreme court
at $5,000 a year.
Four associate Justices of tie su
preme court at $4,500 a year each. .
A marshal of the supreme court at
$3,000 a year.
A United States district judge at
$5,000 a year.
A United States district-attorney at
$4,000 a year.
A United States district marshal at
$3,500 a year.
Three-members of a commission . to
codify the laws cf the island at $5,000
a year each. - - r s.-
Five members of the executive coun
cil, whose salaries are to be fixed by tne
Puerto Ricaa legislature. -T .
".The Puerto Ricans are allowed, to
name:
One commissioner to the United
States at $5,000 a year. .
Thirty-five members of the lower
house of the legislature, who will be
paid $5 a day when in session.
In fact. President McKinley has
power to do everything in Puerto Rico
that George III. tried to do to the
American colonies.
Nebraska Banks
The quarterly report f the condition
of Nebraska banks recently issued by
Secretary Hall of - the state banking
board does not differ materially from the
former quarterly report. The legal re
serve on hand is 33 per cent. The banks
were then in splendid condition and the
report shows that thy are about at a
standstill, though as compared with tne
report of a year ago the deposits have
increased $3,001,837.95. The deposits one
year ago were $19,253,050.74, while the
report of Secretary ' Hall just issued
shows deposits amounting-to $2254,
SSS.64. At present there are 409 banks
and last year there were 335. Secretary
Hall's report shows the condition of the
state ana private banks, including sav
ings banks.at the close of business March
12. The following is a summary:
BKSOUBCBS.
loa and discounts d.SSO.?4UO
Overdrafts 239,366.94
Stocks. securities, judgments,
claims, etc 2iM,3S&3S
Xne from national, state and pri
vate banks and bankers...; Is25T.SS4.i3i
Banking- house, furniture aad fix..
tures . I,191.95x57
Other real estate... TW-SiTo
Current expenses and taxes paid.. . 314.931 1
Pre-miuaa on bonds, ets ... . 1.670-9
Assets not otherwise enumerated ... 1
Cash items 57.272.67
CsshreserTe..... 2,0O&$S2-5O
C. S. bonds on hand .- iS.a.lXQ9
Total.... .. .......... .. ...... .
LIABILITIES.
..532,11163,17
Capital stock paid in 1 7.15&.650.a)
Surplus fond l.a.2$$.90
Undivided profit LOWlTWXS
Dividends unpaid....... L364.CG
General deposits... SlSt.-sw
Other liabilities 1.297.1.
Note and other bills redtsoounted. ISi 724.75
Bills pMBhlo. i 40(X!S$
Total
.. $S,141,2S3J
Inrt ThJe Ic Prncnsrifi!
At the close of the civil war the farm
ers of America could have paid the
whole national debt with about 1,400,-
000,000 bushels of wheat, or a correspond
ing amount of other American products.
After the government con verted the debt
into interest-bearing bonds, and went on
to a coin basis, 2,000,000,000 bushels of
wheat or a corresponding amount of
other. American products would have
paid the whole national debt. We have
now been paying at that debt for thirty
five years, besides having paid the inter
est, yet today it . will take more wheat
and more of American products to pry
what is left of that debt than it would
have taken to pay it all at the close of
the war, and more even than it would
have takea to pay it after we had gone
to a coin basis. This is what the gold
standard . has done for us. We are pay
ing interest on national, state, city, rail
road, farm . and other debts in 50-cent
products when we should be getting $1.
John P. AJtgeld. ' -
THE P03T0 RIGAH OUTRAGE
Cnshman Davis Groat Speech In the Sen
ate He ears the People Thoroughly
. . f
Understand the Whole Thing-.
It took no speeches in congress to
make the. populist voters of this state -understand
what this Porto Rican bill s
meant. There was no waiting to hear
what the leaders would say. Every pop
editor went for it with might and main
as soon as it was proposed. To show
that the populist position on this ques
tion is supported by eminent men in the
republican party, the following speech
of Cushman Davis, chairman of the for
eign relations committee, is submitted
to the readers of the Independent.
Mr. President, I am so desirous that
a vote be had upon this bill at the earl
iest day. possible that I have thought it
best to address the Senate this morning
with much less preparation and much
less at length than I otherwise would.
This fact will -cause me to omit, as I
might not have done, some discussion of
the constitutional - question involved in
this debate, and many other matters
which, in my judgment, - are auxiliary
and collateral to the subject as I shall
now consider it.
I shall try, Mr. President, with all
tempera teness of expression, and cer
tainly with temperateness of feeling, to
submit to the Senate my views upon
this matter as it now - stands. It is an
important question, and, in my judg
ment, it is a non partisan question. JNo
remark that I shall make will have, in
tentionally, the least tinge of partisan
ship in my endeavor toadjusta most
anfortuate complication into which this
measure has fallen. 1
It cannot be denied, Mr. President,
that at the time this bill was reported a
tide of public opinion and dissent set in
against the very principle upon which it
is based. That dissent began with sur
prise; it progressed to remonstrance;
and from thence ip went to indignation.
It was not the protest of the members of
any party. The dissent did not coin
cideatall upon, party lines. It came
from every walk of life; it was commun
icated through every avenue of thought;
and it is based upon this principle, that
as to Porto Rico there should be an un
restrained freedom of commercial inter
course; that as to Porto Rico, considered
as Porto Rico, under the ; particular cir-
cu instances of. the case and what has
taken place, in regard - to .that island,
there should be free , trade between
Porto Rico and the United States.
I cave notice this morning of two
amendments which I intend to propose
to t the, pending. bill ., in regard to this
House measure. I shall only 'explain '
one of them at present, and that amend
ment is this: The creation of Porto "Rico
into an internal ' revenue - district; no
stamp tax to bo levied in that district;
15 per cent of the internal revenue tax
to be laid in that district upon all tax
able articles, with the exception , of dis
tilled spirits and tobacco and the manu
factures thereof, upon which internal
revenue taxes shall be levied in Porto
Rico; that there shall be free trade be
tween Porto Rico and the United States,
and that the law shall continue until the
first of March, 1902.
Whatever may be said as ia conten
tion upon the other part of the subject,
whether, considering Porto Rico aa a
dependency or as a colony or as ,a part
of the United States, we can or cannot
levy tariff duties as between that island
and us, there can be no doubt whatever
upon this general principle, that, so far
as internal revenue taxes are concerned
in Porto Rico, no such question can
arise under the abstract and inherent
power of this government to levy theta.
I cannot see why there can be any ob
jection to the course proposed by the
amendment. It certainly would, in my
opinion, go very far to satisfy and ap
pease the protests which have been
made against ie proposed measure.
As to Porto Rico itself, I undertake to
say that it would be acceptable, be
cause when the delegation from that
island were here before the committee,
whose report I hold in my hand, pro
testing against the tariff and pleading
for unrestrained freedom of commercial
intercourse, upon this very question of
internal revenue the following proceed
ings took place, as will bo found on page
179 of the report. The senator from
California Mr. Perkins was examining
one of the delegates from Porto Rico,
Mr. Larrinaga.
Mr.. Perkins. What effect do you
think the application of our internal
revenue laws to the island would have?
We have a tax upon alcoholic spirits,
and you make a great deal of rum,
and there will probably be breweries
established there, and there is a pro
prietary and stamp tax. Do you think
the people would like that system? .
Mr. L&rrianga. Yes, sir; we would
accept it. Our people are conscious of
their duties, as well as of their rights,
and they would only think it fair.
Mr. Perkins. . Do you now impose
any tax on distilleries?
Mr. Larrianga. Yes, sir; there is a
tax levied.
Mr. Perkins. Do you remember what
His?
Mr. Larrinaga. I could not tell you. -
The Chairman, Our tax is 81.10 per
gallon. Your rum would be taxed at
that rate if our internal revenue sys
tem were applied as here. Could it
stand that tax?
Mr. Larrianga." The feelings of the
people, I believe, is that it would be
right. ,
So that, if I interpret the signs of
the times correctly, as to this country
there is the utmost disapproval of this
measure by a very large majority of
the exponents of public sentiment,' to
say the least; and as to the island of
Porto Rico itself, its representatives
were here, and their declaration in an
swer, to the- direct question was' that
they. would be content with the internal
revenue system, applying, as it does, in
large part to distilleries, which are al
ready there, and which were licensed
under the law of Spain. -
Mr. President, Porto Rico came to
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