1
. . .- -m. -
VOL. -XIII.
LINCOLN, NEBRASKA, DECEMBER 12, 1901.
NO . 30.
HOW THEY COINED SILVER
The Director of the Mint Tells How Much
and Asks for Authority to Coin
More
The report of George E. Roberts, di
rector of the mint, upon the operations
of the mint service during the fiscal
year ended June 30, 1901, has been pub
lished. The coinage of the mints dur
ing the fiscal year amounted to 176,
999,132 pieces, of the value of $13G,
340.781. Of this S99.0G5.715 was in
gold, $18,244,984 was in silver dollars.
$12,876,849 was in fractional silver
the total amount of silver coinage be
ing $31,121,833, or $2,593,486 per month
$2,009,568 was in minor coins. There
, also were coined at the Philadelphia
mint 225,000 gold pieces of the value i?f
$349,014 for the government of Costa
Rica.
The c6inage of silver dollars during
the year was wholly from the stock qf
bullion accumulated under the act.ol
July 14, 1890. ' The amount of thii
bullion on hand at the beginning of
ounce3. The coinage of this bullion
has" been accelerated to enable the
treasury to retire the treasury notes
issued in its purchase, and at the same
time supply the pressing demand
which has existed throughout the year
for the small denominations of rnohy
required in retail trade.
Coinage operations were conducted
during the year in the mints at Phila
delphia, San Francisco and New Or
leans. The Philadelphia mint is now
in its new quarters, and the old site,
including the structure, will be offered
for sale to the highest bidder on De
cember 19, 1901.
The original deposits of gold at the
mints and assay offices amounted to
$153,101,580, an increase of $19,181,501
over the preceding year. Of this $27,
906,489 was in foreign coin, $17,600,463
that of 'Great Britain, nearly all be
ing from Australia, and $5,425,500 that
of Japan.
The estimated production of gold in
the United States during the calendar
year 1900 was of the valueof $79,171,
000, and notwithstanding thF fact that
this country led the world in produc
tions, its imports exceeded its exports
by $12,866,010. The production of
North America. Dracticallv all of which
comes to the United States, was $116,
051,500. The world's coinage of gold in the
calendar year 1900 was $254,936,497,
and of silver $177,011,902.
The stock of subsidiary coin in the
country is limited by law to $100,000,
000, and on November 1, 1901, the ex
isting stock was $90,613,562.'; The re
port says it is not improbable that be
fore "another congress shall have op
portunity to act the growing needs of
the country will have absorbed the en
tire amount authorized. By the act of
March 1 1900, authority was given to
use silver bullion purchased under the
act of July 14, 1890, for this coinage,
but it is necessary that the limit 6at
upon the stock in the country be re
moved or raised. On November 1, 1901,
the stock of bullion acquired under the i
act of ' July 14, 1890, was 51,763,642
standard ounces. If enough of this
were coined in to dollar pieces to tak'i
up the treasury notes issued for its
cost,"'? there would remain 15,539,892
ounces, which, converted into subsid
iary coin would give $19,321,113. It is
suggested that the limit of the coua
trv's stnrk nf subsidiary coin hs
raised to at least $120,000,000.
ROOSEVELT ALL RIGHT
Ills Message is in the Main Democratic and
the Manna Crowd Prepares to v
Fight Hi in
Washington, D. C, Dec. 7, 1901.
It is not the democratic party which
has cause for grief in the first message
of President Roosevelt. It is a strong
document, as strong as it could be and
yet leave the writer of it in the ranks
of the republican party. He lifts three
planks bodily from the democratic
platform and incorporates their recom
mendations in his message.
t irst and toremost, tne president ad
vocates the re-enactment of the Chi
nese exclusion act in more stringent
form. That is good democracy.
Second, he advocates the passage of
an act to compel corporations doing
an interstate business to submit their
books and businesses to federal in
spection as a preliminary to further
federal control in the direction of re
straining trust evils. Mr. Roosevelt's
argument on this is well put and fol
lows as "far as it goes the policy and
argument advanced so oiten Dy will
iam J. Bryan.
Third, the president- favors the or
ganization of a department of com
merce and industries, which is the
democratic plank for a department of
labor thinly disguised. As this pro
posed department would have juris
diction over trust and corporation in
spection its importance cannot be over
estimated. . ,
All this is democratic doctrine. In
line with this democrats will 'have no
fault to find with the president's ad
vocacy of legislation strengthening the
interstate commerce commission so
that it can control the railroads and
prevent their granting Rebates and
otherwise discriminating between ship
pers and ' between different points.
The country will not find fault with his
plans for maintaining both army and
navy at the point of efficiency. In this
respect as well as in respect to the
civil service, President Roosevelt will
do his best to weed out barnacles ana
corruptionists.
On the subject of protection and rec
iprocity, a false note is sounded. Pres
ident Roosevelt fears the disturbing
effect of a general revision of the 'tar
iff, yet his proposed legislation curb
ing the trusts and eventually taxing
them will disturb them a whole lot.
The application to corporations doing
an interstate business of the New York
state franchise tax law would produce
an annual revenue of $100,000,000. A
start has already been made in the tax
imposed on the business of the Stand
ard Oil company md the sugar trust
under the war revenue act. Besides,
te reciprocity road to. tariff reduction
is as liable to produce disturbance as
direct tariff legislation, ap.d it has the
disadvantage of being of doubtful con
stitutionality. ":: - -
But here is the great question.
Roosevelt proposes, but congress dis
poses. Will Roosevelt be able to force
his party to supporthia radical and
democratic propositions? As to that
there is a. grave doubt. The trusts and
great controllers of organized capital
have their grip on the house and sen
ate and the courts. The president is
powerful, under the centralizing pro
cesses of the last six years more pow
erful than ever, but it is too much to
be expected that the trusts and cor
porations will lay down and permit
the people to again have a voice, in
managing the country. But Roosevelt
is a man of courage and much may be
done. Already the Hanna influence is
beginning to organize anew to thwart
Roosevelt, who would not openly de
clare in favor of the pet ship subsidy
scheme, and who is known to be in
different to its passage in any shape
which will meet the desires of the
treasury looters back of the so-called
Hanna-Payne ship subsidy bill. .
An open break between Roosevelt
and the Hanna wing of the republican
party is predicted as one of the most
spectacular events of 1902.
The new treaty with Great Britain
'abrogate Clayton-Bulwer treaty and
clears the way for, the United States
to build, control and own an isthmian
canal, without hindrance from Great
Britain, but it does not clear up the
complications which surround the
building, by the United States of the
Panama canal, which is what the ad
ministration prefers to do, if the situa
tion will permit. But one thing is hid
den back of the abrogation of the
Clayton-Bulwer treaty and that is the
death of the Monroe doctrine so far as
its application to Great Britain is con
cerned. The hinterland of British
Guiana is still indefinite and over fifty
thousand square miles of Brazilian ter
ritory will be grabbed at the first op
portunity. That is one of the negroes
in the wood pile of this treaty which
on the surface seems so one-sided and
favorable to the United States. . The
other is that this country . continues
to let Great Britain use this country as
a base of supplies against the Boer re
publics by shipping horses and mules
from New Orleans to' Cape Good Hope.
Democratic Press .Bureau.
FOR THE 'WEST
BOW YOUR HEADS IN SHAME
A Fleet of British. Steamers .Sails From
New Orleans With War Supplies to
be Used Against the Boers
A dispatch from New Orleans of De
cember 5 says:, The biggest fleet of
British transports that has been here
at any one time since the South Afri
can mule traffic began, two and a
half years ago, is tonight hovering
around Port Chalmette. there being
eight monster ships. Five are at the
docks unloading, and three are in the
river. This means an unusual activ
ity in the shipment ., of American
mules and horses to the Transvaal to
fight the Boers. Each vessel will car
ry about 1,000 head of horses.
Today , special trains arrived from
Montana bearing 1,000 head of horses,
that were pronounced among the best
that have yet left the American shores.
The Britishers are now penetrating
the far west for stock, and they are
getting some choice mounts in Mon
tana and Colorado, although the bulk
of the stock still comes from Kansas
City, St. Louis and Fort Worth, Tex.
One thousand head will arrive from
Fort Worth in the morning, and in a
few days the full complement of 8,000
horses will be here. All the trans
ports are now coaling in this port, the
item of coal amounting to an enorm
ous figure, as every ship Scarries not
less than 5,000 tons. Colontel Debergh
and his ... executive staff returned to
Kansas City yesterday, after thor
oughly inspecting the embarking.
Charles Hagen tonight announced that
he had collected 2,000 men in Chicago
and St. Louis, and was holding them,
in those cities, ready at a moment's
notice to come and man the- ships
should he run' short, which he prob
ably will. ,
Each transport carries about eighty
men to feed" the stock.
The Britishers have purchased well
onto 200,000 head of v stock in the
United States, have given employment
to about "40,000 muleteers and have
left in this country a total expenditure
roughly estimated at $40,000,000.
Fensfon Prosperity
While the population of the United
States has increased 21 per cent in
the past decade, their pension roll has
increased 47 per cent in the same per
iod. And Secretary Hitchcock's report
gives color to the hope that before
many decades have passed the pension
roll will overtake the population, the
American people can stop work and'
live on their pensions, , with congress
assembling occasionally to vote an in
crease all around. s Already one Am
erican in every eighty has a pension,
and. if only the applications in sight
are allowedithis proportion will be ye
duced to one in every fifty-eight. '
The pension roll is now the longest
in our history. Itl contains 997,735
names. There are 403,569 claims pend
ing, and every mail is bringing in new
claims by the bushel. 'B'ut the good
work goes on too slow. This man
Clay Evans should be put out and his'
place should be filled by somebody
who will take possession of the United
States treasury and hang out a sign:
"Why work? Step in and help your
self!" New York World.
Forty Senators and Representatives Unite
Dietrich and Millard Wisdom Have -Their
Boots Blacked and Talk
Against Fusion
Washington, D C, Dec. 7. (Spe
cial Correspondence.) About forty cf
the western senators and congressmen
met Tuesday night in the committee
room of Senator Warren of Wyoniing
for the purpose of agreeing) if. possi
ble, upon some measure to represent
the views of the entire west upon this
vital question.
Senator Warren was elected chair
man cf the meeting and Congressman
Ashtcn C. Shalleriberger of the Fifth
Nebraska district was chosen as sec
retary. A general discussion of the
subject brought about an informal
agreement, to the effect that" the mat
ter of the reclamation of the arid lands
should be delegated to the national
government, subject to the control of
spocial legislation. Nebraska is espe
ciallyjxutunate in having its interests
represented by Mr. Shallenberger, who
l;as madp a tpeeiai "study o'l this sub
ject. Senators Dietrich and Millard
take to the newspaper interviewer like
a duck to water. The Washington pa
pers have established the precedent of
setting aside so much space every day
for the "views" of these distinguished
gentlemen, and we are reraled with
such "matters as "Senator Millard
boarded a yellow street car on Penn
sylvania avenue today at 2:31 o'clock,"
and "Senator Dietrich's shoes were.
polished by a Washington nigger yes
terday morning at 8:05."
In one of those interv'ews. Senator
Millard declares that the populism par
ty is -a thing of the past in Nebraska,
and that since ourt of the populists
will join the democrats and tho ma
jority go back to the republican party,
there will be no more fusion.
In his anxiety to create and pro
mote discord among the opponents of
republicanism as it is practiced, the
senators is following out the time-honored
tactics of his party in Nebraska.
Such questions are never settled by
Nebraska democrats and Nebraska
populists in advance of the primaries
and conventions, and it is unlikely
tl:y will dc sc in this instance. Some
ten months must elapse before this
question again comes up for --settlement,
and, in that time, the matter
will be carefully reviewed and studied
by those who . have been political
friends in the past, with the sole pur
pose in view of protecting the inter
ests of the yeomanry of Nebraska who
need defenders.
Until the conventions of 1902 speakv
the matter will remain under reason
able and fair discussion, to be then de
termined by the wisdom and judgment
of those most interested. It is unlikely
in the extreme that these political al
lies will seek to undo all the good
work that has been accomplished in
the past and purposely fritter away
their opportunities to again wrest Ne
braska from the hands of Stuefer and
his fellow despoilers. The logic of
the past few years has demonstrated
the feasibility and proved the sound
logic of intelligent co-operation be
tween the reform forces, as the splen
did record made the safe, and econ
omical administration of affairs, will
bear out.
Congressman Shallenberger is quar
tered at 323 2nd street, S. E.; Stark at
321 2nd street, S. E.; Robinson at 123
llth street, N. E., and Neville at the
National hotel, where all will be
pleased to greet Nebraskans.
H. W. RISLEY.
in fact,: do not belong to the banks.
Itmakes everything , in their, hands a
security to the , government for this
credit money,; which will still be a loan
of the national credit, and the govern
ment "i3 expected to continue to guar
antee its payment, and is to be reim
bursed out of assets in case of loss. No
proposition has "been made, and none
f will be made, that does not provide for
such guarantee of payment. (They
call it redemption:) The government
must be protected by a first lien upon
the assets; that is, through the gov
ernment, the note holders have a first
lien in the event of insolvency on the
assets of the banks.
I do not assume want of informa
tion but I find , men of intelligence who
do not appear to have- a clear idea
about the difference between what is
called capital and the assets of banks.
The assets may exceed capital.
Suppose, a "country bank" to.be or
ganized with $100,000 capital,, and that
it buys $50,00 of bonds at, say 10 -per
cent premium, that is, at a cost of $55,-000.-
The government will then loan
the bank on these bonds $50,000 in na
tional bank currency. The law requires
the bank to place in the redemption
fund an amount equal to 5 per cent of
the currency received. This part of
the . transaction can be stated in this
way: '
Cash capital r. . $100,000
Expended for bonds. 55,000
THE NATIONAL BANK SWINDLE
With a Capital of $100,000 They Manage
to Draw Interest on Over $900,000
Editor Independent: When the
farmers' alliance proposed a scheme
by whl-'i the government could loan
money to farmers, it was the subject
of the most hilarious ridicule by the
men who now propose to 'convert the
money of the country into a loan to
the national banks. National bank
currency is a loan at one-half of one
per cent per annum and is secured by
government bonds deposited with the
treasurer, who is authorized to issue
to the bank owning the bonds their
face value in bank currency. For this
loan the bank pays one-fourth of one
per cent each six months and the gov
ernment guarantees the payment of
these notes. It is idle to assert that
this is not a loan, or that 'it is not a
special privilege given to no one ex
cept to the national bank. -
These notes represent Nothing but
the credit of the country, and in the
hands of the banks , become an inter
est producing currency, and yields a
bank rate of interest for the benefit of
these corporations, but the govern
ment receives no part of it.
Who is there that would not be glad
of an opportunity to borrow money at
one-half of one per cent and loan it at
six or more. This situation is worse
than the proposition of the farmers.'
alliance.
Profitable as is this special privil
ege, the banks are not satisfied. The
demand for the bonds required to se
cure these loans is such that they stand
in the markets at a considerable prem
ium. This requires them to invest the
amount of the premium more than the
amount of the loan. v
They desire to get rid of this prem
ium. This can only be done in-ofle of
two ways. Either the government
must be induced to continually in
crease the public debt . and thus fur
nish the bonds, or the banks must be
permitted to secure the circulation by
their assets. The, first is likely to at
tract public attention and arouse po
litical opposition. The masses are not
so likely to see through the second.
The 'second proposition secures the
currency by assets, ninety per cent of
which represent liabilities, and that,
Cash remaining '....$ 45,000
Loan from governme.nt in na- i
tional bank currency. ..... . 50,000
. Total cash $.95,000
Deposit in redemption fund.. 2,500
Net loanable proceeds,. . . . .$ 92,500
After the organization, suppose it
to open its doors and to receive de
posits amounting to $900,000. It can
loan 85 per cent of this -amount, and
of the remaining $135,000 which the
law requires it to reserve, it can de
posit that is loan three-fifths $81,
000 -with a. reserve agent and probably
get interest on tjjis. This part of the
transaction can be stated in this way.
Deposits . . . . ,- $900,000
Loanable 765,000
Not loanable .' to customers . $135,000
Loanable to" reserve agents. . . 81,000
ONWARD WE MAtlCH I having for its object a monopoly con-
nai,y lu ia,w. uuyernor van cam pronw
3 A A J- 1L . 1. -J 11 1 1
Cash .reserve required $ 54,000
It will be observed that the bank
can loan"" out of its ,
Capital ... : $ 92,500
Deposits 765,000
Lawful reserve . .... 81,000
Total loanable . .$938,500
' It would. have remaining
Cash reserve required $ 54.000
Premiums on "bonds 5,000
Cash in redemption fund 2,oC0
Total not loanable -.-.:.$ 61,500
This is a statement of what the na
tional bank law will permit. If such
a bank was? asked to state its condi
tion, this is the way it would do it:
Resources
Loans and discounts $ 857,500
U. S. bonds to secure cir 50,000
Premium on bonds 5,000.
Due from reserve agents 81,000
Cash .v 54,000
5 per cent cash redemp. fund. 2,500
Total resources '. $1,050,000
Liabilities
Capital stock $ 100,000
Nat. bank notes outstanding. 50,000
Deposits 900,000
Tqtal liabilities .' .. . . $1,050,000
The resources of such a bank are,
of course, its assets.
During the session of congress in the
spring of 1900, a member of the com
mittee on coinage, weights and meas
ures, in asking a question, assumed
that deposits were assets. The eminent
banker who was before the committee
to give it information, and who was be
ing examined, uttered'an exclamation
of surprise at this assumption.
. The forms of bookkeeping seem of-"
ten,, as it appears to have done in this
"case, to completely obscure the fact
that deposits made in a bank do, at
once, become part of its assets.
When a man deposits money, ,the
bank owes him the amount deposited
and, in that sense, it is a liability;
that is, it creates a liability, but the
money deposited becomes an asset of
the bank. As a liability, it must take
the chance of being paid with other
liabilities. Every proposition that has
been made, .or that will be made, to
secure national bank currency by as
sets instead of bonds proposes, and
will propose, to subject money so de
posited to the prior lien in favor of the
government to" secure the -note holders
as against the depositors who furnish
this part of bank, assets. - (
So long as the national bank cur
rency is required to be secured by
bonds, it stands as an obstacle in the
way of an increase of that currency.
When security by assets is substituted
for bonds, it will be easier to increase
the currency, and the money of depositors-will
become the principal se
curity for national bank circulation.
It is possible for the deposits to be
often the only security. ; -
Thi3 change has been demanded by
the banking syndicates, and will be
demanded again. The abstracts of the
comptroller show that, the changeyis
essential to the interest of the national
banks, and necessary to enable them
more easily to expand bank credits.
It will postpone' the final day, of reck
oning that is sure to come sooner or
later. R.LAVIUS J. VAN yORHIS.
Indianapolis, Iec. 4, 1901. :
.v'-. . Erratic.
The Chicago Tribune still maintains
its well-earned reputation for chang
ing its mind on the subject of the
tariff at perceptible intervals. Just at
present it is disposed to speak of the
question as the late William H. Van
derbilt did . of the public. Boston
Herald. - ' '' - :
Fhe Democrats With, a Fopulist Platform
Carry Boston and Cause Consternation
in Plutocratic Circles
- If the reorganizers were capable of
learning anything they would get a
wholesome lesson from the city elec
tions that occurred last Tuesday In
Massachusetts. The Massachusetts
democrats in their state convention in
dorsed the" Kansas City platform and
thefl went forward by incorporating
several distinctively populist demands
in their state platform. On that they
made a gain" of about 50,000 votes. In
the city campaign that has just close!
they did not crawfish, but went still
further toward the advance stations o
modern thought. The result of the'
election in the city of Boston was that
the democrats completely overwhelmed
the republicans, General Patrick A.
Collins being elected mayor over
Ilayor Thomas N. Hart by the largest
plurality in a quarter of a century.
The democrats likewise obtained con
trol of both branches of the city gov
ernment, elected their street commis
sioner, Salem - D. Charles, and prac
tically all their candidates for the
school commission.
The result of the canvass was fully
as much of a surprise to the democrats
as to their opponents. Tfye most san
guine democratic prophets the night
before election claimed only 7,000, yet
this plurality was nearly tripled.
Two years ago Mayor -Hart defeated
General Collins by 2,218 votes, and
polled something over 40,000. This
year the total republican vote for
mayor was a trifle" over 33,000, the
smallest since 1893, despite a regis
tration almost 50 per cent larger than
then. Yet General Collins received
over 52,000 . votes, the largest in the
history, of the city, and he carried
eighteen of the twenty-five wards.
The republican leaders were inclined
to blame the weather, but this does not
account for - the tremendous gains
made by the democrats in republican
Vards. Naturally there was great ex
citement in the close wards and in
South Boston two prominent republi
can politicians were arrested on sus
picion of having" obtained repeaters.
The Associated press remarks that
"this, however, was the only unfortun
ate feature of the day."
It certainly was "unfortunate" that
those republican repeaters were ar
rested. If they had not been inter
fered with in their laudable work, they
might have succeeded in changing the
result of the election. 4
WHICH WILL IT BE?
A Private Monopoly With a Power Greater
Than King or Potentate orPublic Own
ership of 'Railroads
The statement comes from Washing
ton that Attorney General Knox, at
the instance of the president, has in
vestigated the Northern Securities
company and can discover no law un
der which he can successfully attack
the corporation.
A system of government, or, rather,
a lack of government which permits
the oi'ganization and continuance of
existence of such over-capitalized
monopolies as the Northern Securi
ties company constitutes 4a serious
menace to society and mankind" in
general. It is perhaps not too much
to say thatthis is the most dangerous
combinatipn ever organized under our
laws. Its power is greater than, king
or potentate, in that it may absolute ly
control transportation of every kind
and directly affect every avenue of
trade.
Governor Van Sant of Minnesota de
serves the thanks of every good citi
zen, in his effort to repress the evil
in-' his state, and it is too bad thafNe
braska's governor could not rise to
the opportunity that was offered. We
frankly admit however, that few Ne
braska republicans ever do rise to an
opportunity to be of service to the
people in general. Governor Savage,
deserves severe condemnation for fail
ing and refusing to assist Governor
Van Sant. 1
The question, in brief, is, whether a
person or a corporation! can lawfully
sell or buy property to encompass an
unlawful object. It will be remem
bered that the courts quite uniformly
held that the old trustor combination
was contrary ,to the common law, if
not statute law that persons or cor
porations could not put up their hold
ings in trust in order to effect a mon
opoly'1 or undue restraint of trade.
Hence the old style of the trust gave
way to the present practice of form
ing a new corporation to take over the
combining 'properties and destroy the
corporate existence of the latter.
There is essentially no difference be
tween the northern railroad combina
tion and the old form of the trust
which gives to recent "combinations a
name that does not exactly fit them.
In both cases the individual corpora
tion is left intact and control is
vested in some common agency. Be
tween the shares of stock , in the
Northern Securities company, given
out 'to take up shares of stock in the
two railroad companies, and the trust
certificates : issued in exchange . for
shares ' in -combined corporations un
der the old trust there is a technical
but no substantial difference. And
courts which quite generally pro
nounced the latter scheme unlawful
might easily be supposed capable of
judging the present scheme unlawful,
if it be urged that the technical differ
ence the fact that ownership passes
in the present case while it did not in
the case of the old trust makes all the
difference " in the "world, attention-is
called to the fact that the Illinois su
preme court decided; in the case of
the glucose combination, that a con
stituent corporation ,or ' its stockhold
ers had no right to sell and convey,
their property to another corporation
ises to test the whole matter in the
courts and the outcome is ducidedly.
uncertain. Nevertheless a result hos
tile to railroad combination can have
no solid and. permanent effect in pre
venting general railroad monopoly.
The business is inherently monopol
istic and the whole question simply
turns upon whether railroad monopoly
shall be private or public, and in the
public interest. ' The country must so
understand the matter and the sooner
the better for all concerned. 4
STUEFER'S JUGGLING
The Same Old Trick Once Played in Ilolt
County There was Six Times ah Much
Permanent School Fund on Hand
as Shown
State Treasurer Stuefer, because of
the persistent demands of the Omaha
Bee and other state papers that he dis
close the . whereabouts of the perma
nent school funds, laid his plans to
make a showing, vwhich he did imme
diately after the close of business No
vember 30. His books showed some
thing over $18,000 all 'told as balances
in the four trust funds (which accord
ing to the supreme court's decision
cannot legally be deposited in a' de
pository bank) and he procured this
sum in lawful money and put. it in
the treasuryvault at the state house;
then he called in Governor Savage,
and two other state officers and showed
them the cash, which was counted and
found to be correct. So far, so good;
then the governor; proceeded to give
the treasurer a clean bill of health in
the matter of the Burt, Cuming and
Otoe county bond deals,
r It is gratifying to know that the
treasurer was able to show up . the
balances in good, hard cash. But that
he had -been juggling with the funds
for some time is evident from an in
spection of his report. He wanted to
have a very small amount of the four
funds for exhibition purposes make
an exhibit and then have this people
forget that there is such a thing as a
permanent school fund. By the first
of next March, after the annual settle-5
ment with county treasurers, the bal
ances in these four funds will be over
the $200,000 mark-at the least calcula
tion maybe much more.
What became of that $18,000 in very
hard cash which the treasurer showed
the governor? Doubtless it did not
stay over . night in the vault. i will
be remembered that when Treasurer
Meserve turned over some $90,000 of
trust funds in cash to Treasurer Stue-
f er that certain Omaha bankers, who
were acting chaperons to Stuefer, car
ried the money away in a hack God
knows where. ; It 'is possible some of
these gentlemen,, like Mary's little
ovine, were "lingering near,"' and as
soon as the governor's inspection was
over, slid the sacks of gold under their
coat tails and hustled away with .it?
B'ut as to the proof that the treasurer
was playing' horse with the funds:
Treasurer Meserve last January turned
over to Treasurer Stuefer something
like $57,000 , in temporary university
fund warants which had been pur
chased as, investment for the perma
nent university fund and the agricul
tural college endowment fund. These
warrants were duty registered against
the temporary university fund, and,
under the law. as soon as sufficient
money should come' into that fund,
it is his duty to call them for payment,
take .them up and cancel them. Mr.
Stuefer's report for November 30
shows that he has a balance of $62,-
381.66 in the temporary university
fund. Why hasn't he "paid off the $57,
000 of warants he holds against this
fund. He has had practically enough
money in the fund to pay off the war
rants ever since the first of June, 1901,
Suppose that in November he had done
his duty and paid off these temporary
university fund warrants; what would
have been the result? The $57,000
would have been paid out of the tem
porary university fund and : been re
ceived into the two permanent funds.
But that would have made him with
$75,000 of trust funds on hand instead
of only $18,000 and he wanted to
make a showing. Hence, he juggled.
His November report also shows a bal
ance of $82,226.98 in the general fund;
that might have been used in paying
off general fund warrants. Why wasn't
it? Simply because the treasurer holds
about 60 to 70 per cent of all the out
standing warrants against this fund
as investment for the permanent
school fund, and if he had made a call
in November and used the $80,000 gen
eral fund balance in paying off war
rants, not less than $48,000 to $50,000,
of the money would have come into the
permanent school fund, and that would
have swelled his trust fund, "on hand,"
balances to about $125,000, and that
was rather more money than he cared
to bring out of its hiding place for
the governor's inspection. Hence, here
again he juggled.
There was therefore in the hands of
State Treasurer Stu?fer at the, time
he made this report 5125,000 belonging
to the permanent school fund instead
of $18,000. That fact will have to com
out by the. time he makes his next re
port. The sort of juggling that he has
been engaged in may satisfy the ignor
ant republican voter, but It will no
one else. The old Barrett Scott trick
of counting the money has been played
too often in this state to deceive ono
who does not wish, tp be deceived. "
' . i -
Seed Coin For Salt)
I have a fine lot of yellow seed corn
of this year's growth . raised on my
farm on the little Siota bottom,' 36
miles from Union, Neb., which I will
sell in quantities r of 5 to 1,000 bush
els at $1 per bushel, f. o. b.V sacks ex
tra. Address L. O. Todd, sr., or L. G.
Todd, jr., Union, Neb. !
UPROAR IN WASHINGTON
UN I
AppolaY
Senate Refuses to Confirm the
ment oi iinox Aitorney-ueneral t
' - Justice Brown's Double
Somersault
wasmngton, u. kj., uec. i, iaui. ;
Rrlitor TtiH ontn H on t fhla Ima-hoon s '
very lively week in Washington, with ,
the ordination of the new congress 11
have been annexed the usual presi-
lent'o m no co cru and o rl rl n I r & s -W
iasi jvionaay, me supreme court gavo i
its decision on the insular cases h??t ! j
,over at the last sitting. There han ff
really been more done here In the last
week than I have ever seen done bo-
fore during the same period at asy yt
time previous. " .- n
The new congress assembledon last
Monday and immediatelv Droce'ederi to f
the election of its officers. In the sen
it
ate, Hon. William P. Frye, the presi
.1 A. X V . tt J i . .
aenc pep tempore 'ot me last senate, ",
and who Is chiefly known for his con
nection with the subsidy steal, took f
the chair and was re-elected to th;
office vacated by , the elevation cf ,l
Theodore Roosevelt to the presidency. I
In the house, Hon. David B. Hend?r i
son was elected to succeed himself. in
His opponents were Hon. James A. D. P:
Richardson of Tennessee (dem.) an I 1
Hon. William L. Stark of Nebraska ?t
(pop.), who received their strict party
vote. Drawing for seats was then I
commenced and this took up the rc- M
mainder. of the day. Congress then ad- lR
journed until the following day. tf
On Tuesday, the pres?dent"s message
was read toboth houses of congress tnij
and this was followed .by the usu il
deluge of bills that accompany the on - "'I
ening of each session of congress. Con
gress did not sit at all on Wednesday -r.
out of respect to the late lamente-i Ml
President McKinley. "Thursday, the !r'
president . presented the new Hay- 'uf
Pauncefote treaty to the senate, an i j
this body promises to act upon It dur- I f
ing the coming week. Friday, in th-i
house, the speaker appointed thres- K
!
a. tu, I
1.3 ri
". s
in
r ii
of-the standing committees reducing r,
the ' democratic membership on each 0 jl
committee saying that as the demo-" lt"j!
crats were in a smaller minority than j s;
during, the lastsession, that their pro- I
portionate membership on the com
mittees should be likewise diminished.
These committees were ways an;
means, appropriations and rules. I , 1
understand that the speaker will wait ..if
until after the Christmas holidays be- fit.
fore he announces the full roster cf I v; !
his committees preferring to wait un- .i.'s
til he becomes better acquainted wit'i . I
each of the new members. ' 'I
On Tuesday, the president sent to
the senate the names , of each of hn
cabinet and with one exception their
t a. i i . M . j rrt .
some time attorney for the Unitei '
States steel corporation, and later at- .. j
tnrnotf cronornl nf h TTnitffl StJltf.-. t f
As I predicted in my last letter to you,
there was a big fight when his name
was presented for confirmation so big
a kick tnat nis nomination was re
ferred to the judiciary committee of
the senate. This committee held the
nomination of the attorney general un
til yesterday, when they reported back
to the senate that the committee would
not oppose the-nomination of this offi- Ci"
. XS. . XI
cer or auy umcer ui tnw inesmtua
cabinet for the attorney general was s...
an officer supposed to do the biddings j
of the president and he alone would $V
have to be responsible for him. This Q;v
was in no way a disprovel of tha l ?
charge made; but rather a load for tha
president to carry. But the fight Is c i
not ended yet. On Monday, -when a
vote will be taken in1 "executive ses- Jr
sion," there will be a'big fight on and r;;
I am told that there are enough sena- "!
tors opposed to having him confirmfd .
to prevent his confirmation for socio
time to come. This fight is the out- C.
growth, of the refusal. of the attorney p,f
by the American anti-trust league
against five of the biggest trusts and it
promises to be a merry one. To hold
up the nomination of a cabinet officer
for even a day is a thing almost un
precedented. I remember but one such
instance, and upon Investigation find
none other save when the senate h-'ld
back the confirmation of A. T. Stewatt.
nominated for a place in the cabi -by
the-then President Grant. 1
American anti-trust league has do
wonderful work and . its success
holding back the confirmation of t
most important officer in the cabin
i3 a distinct rebuke- to is pursu.
policy. , '-.,
The supreme court has at last rcn- I i(
dered the decisions for which we havo ,
waited since they broke their sphynx- f
like silence and Justice Brown dellv-
ered himself on both sides of the :f
question. Well, the supreme court i
has done one consistent thing. In the j
decisions rendered on last Monday Jus- j
tice Brown did his double somersault '
again and rendered opinions on both
sides of the question. For doing this .
trick, Justice Brown is certainly tua f
peer of any of these judicial wobblers. I !
The last two of the insular decisions .
Were both a rebuke and an advocacy of
the government's policy. In the second
Dooley case, which involved the col- ' '
lection of duties trom Porto Rico, ihi car
supreme court by one of its celebrate! J--'
five to four votes, declared that Porm
Rico was obliged to pay duties as lev- ,J
ied under the Foraker act (the Porto 4
Rican tariff) and declared it the pow- .
er of congress to lay a tax afraitsth;
this island until it was incorporate! JV
into the United States proper. This f
is known as the case of Downes vs. ' 4
Bidwell. In the celebrated "Fourteen
Diomand Rings" case, technicay
known as Pepke against the United
States, the fight was based as follows:
John Pepke, a' soldier In the United f
States army fighting In the rniLp
pines, returned to the United States,
bringing with him fourteen diamoad
rings. On arriving at San Franeisro
they were promptly seized by the cus
tom house officers and Pepke refuse!
1 -
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