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About The Nebraska independent. (Lincoln, Nebraska) 1896-1902 | View Entire Issue (Oct. 30, 1902)
- . . y VOL. XIV. LINCOLN, NEBRASKA, OCT. 30, 1902. NO. 23. EASTERN POLITICS Hill and Piatt Stop th DUnlon of all Vital Itinet-OroTtr Cleveland to Take the Stomp Editor Independent: One week ago today we could not think of anything except how to get coal. Now we can not think of anything except the elec tion. In the Fourth congressional district of New Jersey Charles N. Fowler, of the Fowler bill, is running against DeWitt Clinton Flanagan. The state was newly districted in 1891 and Fowl er has a new district to run in. Gro ver Cleveland, if Princeton, N. J., is to speak for Flanagan on October 30, and when you take into consideration that Flanagan means Grover Cleve land and that Fowler means the Fowl er bill, there is not much to choose from. It is not likely that the Fowler bill will be much discussed. Mr. Fowler will talk for protection and Mr. Cleveland will talk for tariff-for-revenue-only. If Mr. Fowler is elected, he will vote for the Fowler bill and if Mr. Flanagan is elected, he will vote for the same bill; and therefore it makes very little difference to the plain people who pay the taxes who is elected. If I were going to predict, I would say that Flanagan will be elected, first, because some of the re publicans, are opposed to Fowler, and, in the next place, there is a small dem ocratic majority in the district. Mr. Fowler is under the disadvantage of having enemies in his own political household, while he is fighting the enemy outside. In New York they are fighting very much on the old lines. Bird S. Coler, the democratic candiate for governor David B. Hill's candiate is in favor of tariff-for-revenue-only, while, of course, Odell, the republican candi date for governor, stands for protec tion, nothing being said about the cur .''revpey. - 71t?v democrats declared, in their state convention, in favor of tak ing, by the feera government, the coal lands of Pennsylvania under the power or right ol's eminent domain. This has been talked about, in the newspapers, more t Jar? any other is sue. The democrats in New York are making it a national issue, inasmuch as the coal lands are to be taken by the national government isnstead of having the state of Pennsylvania do it But, Bird S. Coler, the democratic candidate for governor, does! not favor the measure, so that Mr. David B. Hill and his own candidate do i not agree on what is one of the most prominent issues. It Is hardly necessary to say, that there Is not much prospect of Mr. Hill's electing his candidate, not much prospect of his carrying the New York legislature, and not much pros pect of his being senator again; nor win lie u icduci mut u luugci ui New York democracy. It is a pity, however, that Hill is able to prevent the policy of an income tax from be ing discussed and can also prevent the money question from being dis cussed. It is unfortunate that the politics of the great state of New York can be made to turn on such is sues as are of no consequence to the plain people who pay nearly all the taxes. The tariff question seems to be used for the purpose of preventing the peo pie from seeing their own true inter ests. If the attention of the people could be directed to an income tax and such a law could be enacted, there would be no necessity for a tariff for revenue, and then all the discussion about a revenue tariff could be dropped - and we would have nothing left to talk about except an income tax, on the one side, and a protective tariff on the other side. When will the democrats cease to talk about tariff reform am revenue reform, all of which means a tariff for revenue only? If the tariff must be talked about, let the republi cans talk about it. They are in favor of a tariff for revenue as well as for protection. If there is any difference between the two systems the republi cans have the best of it, because, if there is any virtue in a revenue tariff they have it, and if there is any vir tue in a protective tariff, they have it. If the democrats would only stop talk ing about the tariff and substitute an income tax, they would soon begin to gain favor with the people, because they would be advocating a system of taxation that would fall upon wealth instead of consumption. The poor con sume a thousand times as much as the rich, and therefore they now pay a thousand times as much taxes as the rich. We are collecting about two hundred millions annually through the custom houses on goods coming into the country, which must necessarily add to the prices of the goods, im ported, unless foreigners, who bring the goods here, pay the tarif duties, which seldom happens. W ; 'are ob liged to collect this amount for the government annually, and as long as we continue to collect this amount in this way, the poor will be obliged to pay nine hundred and ninety-nine dol lars ($999) to every single dollar that a rich man pays; and they will be obliged to pay their large share out of their wages, which they have to work hard for, while the rich will pay their small share out of their rent, interest or dividends, which the poor have to pay to the rich, in addition to paying their large share of the tariff taxes. If we have a tariff for revenue only (as the democrats propose) then the tariff duties will be high on such goods as we do not produce or wish to produce, and very low on such goods as we do produce or wish to produce. This will make high prices for goods which we do not produce and low prices for all goods which -we produce or wish to produce. Low prices for goods which we produce will necessitate low wages and our working people will be called upon to pay high prices for tea, coffee and air other thingB which we cannot produce, out of their low waaros. Low duties on such goods as we pro- duce (as the democrats propose) will not only cause low prices for all such goods, but foreign goods will have a SECRETARY SHAW'S BLUNDER tendency to come in and our working Pooled by the Clearing House Tarn That people will then be out of work, and they will be called upon to pay high prices for their tea, coffee, and all other articles which we cannot pro duce and low prices for all goods the New York Banks Were Fnrniih iag Money to Move the Crops In the last few days it has been shown indubitably that the money A Bold Forgery which we can produce and they will stringency in New York is not caused have to do it when they are out of by a scarcity in the west coincident work and have no wages with which with enormous demands for crop-mov- to pay high or low prices for any- ing The west nas plenty of money thing. for aii -, needs. as is attested by the Such is the practical working of a kv RtatPmpnt jmri the shinment of tariff for revenue only. It has been millions to New York to relieve the tried and found wanting, wherever we situation there. Nor is the stringency have free labor. If we have a tariff caused by legitimate business. Com- for protection only, then all goods merciai paper finds all the accommo- which we do not produce, such as tea Nation It requires, and money is easy and coffee, will come in free of duty for tne legitimate demans of trade, and the prices of all such goods will commerce and industry. Where, then, be low, and our working people can lies the source cf the trouble? It is have them by paying the price abroad, discoverable in Wall street, where pius transportation, pius tne cost oi speculation is the only business known, distribution here, without paying any Gambling in stocks and bonds has duty or tax to the federal government; absorbed the supply of money, and the duties will be high on such goods Bince gambling is illegitimate the ef- as we produce or desire to produce, fects of it upon the mc,hey market and the prices of all such goods will arfi nf the same strine. Hence we say have a tendency to be high, on ac count of the lack of foreign competi tion, especially If there Is a domestic the stringency is illegitimate. These facts seem to have escaped 0.m..4-.t..r 9 T'r'r.r fllir OtiQIir ffW trust formed here for the purpose of ErVoT wIri Zn 7,2 tn rwrn nmnamtAn v, r,, he has blundered again and gone to preventing competition here. But even if prices of commodities are high here and we have a domestic trust here for the purpose of keeping them up, yet if the trust keeps our people at work. and they have high wages, as they can have, by exercising the power and the right of striking for higher wages, then a protective tariff is better than a revenue tariff, because our working people have their wages, with which to pay for things, when they are high as well as when they are low. , We are now living under a protec tive tariff, with plenty of trusts. We are better off with our tariff and our trusts than If we should have a tariff for revenue only, because, with the latter, foreign goods would come in and our people would have no, worx and no wages. The worst thing that can happen to a nation is no work. This means anarchy and a general breaa-up. The difficulty with our present tar iff is, not that we have a tariff for pro tection, but we have" a tariff for rev the relief of what he flippantly de scribes in his latest circular as the street" The benefits to accrue to the public from a money stingency which would squeeze the water but of stocks that now figure prominently on the market and reduce values to a legiti mate basis are not wholly material this consideration. That they would be Incalculable, and that a stringency having such results would be a na tional blessing, are patent to all. But, leaving out that phase of the question, we have to deal only with Secretary Shaw's action. Is the speculative market to be backed up by the treasury of the Unit ed States? Are the stock gamblers of Wall street to have at their command the money of the people? Are the re sources of the public treasury to be used in sustaining the market price of inflated stocks and watered and ques tionable securities? These questions are made pertinent by the action of Secretary Shaw in go- enue as well as protection. Here is ing to tne rener or tne speculative the trouble and the great defect. We market Twice within a few days he ouerht to have a tariff for Drotection has done the very things comprehend- only, if we have any at all. We never ed by these questions. The money of ought to have a tariff for revenue only, tne people is even now oemg used to On the contrary, we ought to have an facilitate the operations of those men income tax or some kind of a tax that whose , "crimes of finance" have as falls upon wealth, for revenue only. If tounded the world during the last half the democrats would only stop their de.cade. And Secretary Shaw now pro talk about revenue tariffs, and go in poses to furnish them with $20,000,000 for an income tax, there would be more from the public treasury to bol some hope of reform. But as long ster them up in the games they are as they keeD ud the old talk about Mpiaymgi tariff reform, meaning a tariff for rev- If the people had a voice in the mat- enue only, there is no hope. We can see this in the campaign now opening. JNO. S. DE HART. Jersey City, N. J. Plutocratic Lies ter they would quickly put a stop to a practice which makes the nation's wealth in money subject to the de mand of "the street" for its stock jobbing deals. If Secretary Shaw's purpose Is to establish precedents un der which Wall street may drain the it, thta they mad rid themselves of such an official, for as things now stand a blundering secretary of the treasury, who goes out of -his way to encourage inflation and protect wa tered securities with the money that belongs to. the nation, is more to be dreaded than a panic among the spec ulators in watered stocks. Baltimore READ Editor Independent: A story has treasury vaults, the people will know ueeu gumg lue rouuus ui me eastern dailies to the effect that Mr. Bryan is worth more than $200,000, etc. The tale has appeared in several Baltimore pa pers and as the wording is identical in each, it is evidently the work of some "bureau for tfte dissemination of in formation" located at, or near, Wall street, probably by the same crowd which furnished "sound money, boil- American. ci -yiaic maiLci ill xoou. ii. ji y xn o wealth greatly worries these gentle men, but it cannot be said he got any of it in the way most of the thieves do, by robbing the common people. THOMAS O. CLARK. Baltimore, Md. (In 1896 these men were circulating through their boiler-plate literary bu reaus the story that Mr. Bryan was t non M.nn 11.. ,1 T 1 I piauui-anji a. pauyci tiiiu iiau never made enaugh to decently support his family until he went into politics. They sent agents here to examine the coun ty records to see how much taxes he paid. Now that he has shown the whole world that he can make money if he turns his attention to that sordid work, they are no better satisfied than they -were before. Both the accusations that have been brought against Mr. Bryan by the plutocrats go to show the vileness of these human vampires whom he has fought There is no doubt that with his paper, his books and his lectures Mr. Bryan makes money perhaps more than if he had been president. But every dollar of It is honestly made.The reason that these vampires object to it is because he does not make it by trust methods or tariff grafts. Ed. Ind.) ftoses P. Kinkaid's Letter to Joe Bartley age 3 George III and Baer & & t & & & Jt & ,' ' & The Nebraska State Jour j nal of Sunday, October 26, & & 1902, carries on: its front page & what' purports to be fac similes ?t of three -annual passes issued 8 to W. H. Thompson,' one each Burlington, Elkhorn, and Union & & Pacific. No ' comment is made & except the words: - " 'Our Man' & Thompson, democratic candidate & for governor of Nebraska." The s whole thing is as glaring; a fraud t as was ever perpetrated. The originals Irom which " the pre- s tended fac similes were made were filled out- by the respective S roads and issued to the State 2 & Journal not' to Mr. Thompson & at all. They were never in his & st possession. He never saw them. & & They bear no number an im- & portant fact, showing their s & fraudulent character They are "t 8 mere make-believe passes issued & & to the State Journal, as any dis- 5 cerning person can see by ex- i ' amining the 'facsimiles. di That these character assassins 8 are desperate is! very evident 5s Alter spending iq tne neignoor- ? t hood of thirty thbusand dollars in a vain endeavor to fool the & people into believing that the & S railroads are paying- their fair 5 8 share of taxes, and feeling the i jt futility of - trying to deny that & Mickey is an abject tool of theirs, these -' railroads have 8 stooped to the ; dirtiest' piece of 8 & politics : since they abducted & 4 Taylor. - J No republican naner has ever & t attempted to deny the Baldwin & & interview,-which appeared in the & & Omaha Bee- of June 9, 1902 & t nine days before the republican 8 state convention. Mr. Smith, the 8 & Bee's correspondent, was Of 8 8 course on the alert for politi- 8 8 cal news. Judge Baldwin and a & 8 number of - other - railroad at- & 2 torneys were in Lincoln looking j 8 after - that -"second answer" ,58 S which the republican board of 8 equalization and the republican J8 8 attorney general filed lit the tax & case. The Bee's staff cor respon- 8 J dent says -that Judge Baldwin 8 was in "a lbquaeions mood," but & & fails to say whether the loquac- S 8 ity was caused by Baldwin's sue- 8 cess in getting the- second an- $8 & s wer filed, or whether he had ?8 8 just taken a nip from the bot- 8 J tie of "Mickey whisky" at the & Lindell hotel bar. In any eveht 8' ?8 he. was loquaeiousifjnd he said: 3 8 "We are not -botnering about 8 & the governorship any more.'?8 & That has all been settled. We & had a conference a day or two S ago and we all agreed on Mickey & t as OUR MAN." . ?8 No single thing in the whole 8 8 campaign has been so damaging 8 8 to Mr. Mickey's chances for elec- 8 S tion. It cannot be denied that 8 S Judge Baldwin said what the Bee's staff correspondent re- 8 j8 ported. It cannot be denied that & the words quoted above ap- t58 & peared In the Omaha Bee of 8 J June 9," 1902, first page, 7th-col- 8 umn. So disastrous has been S Judge Baldwin's loquacity that 58 8 Mr. Mickey has for some time 8 S been proclaiming from the & stump that he made no prom-j8 8 ises whatever in order to get 8 j his nomination. Of course, he did not. No one has charged ?8 ,38 him with making any. It was ,58 wholly unnecessary. That had & all been settled at the confer- j8 ence of Judge Baldwin and his & fellow railroad attorneys. They 8 8 had "all agreed on Mickey as 8 S our man." t5 t ABSOLUTE OWNERSHIP P It appears that Baer in his cele brated letter concerning the divine rights of the coal barons plagiarized George III. John W. Slayton has been looking the matter up and fimds that .u9L..i.KC...cir mwitine can revolutionists, and President Editor Independent: It is amusing Baer. writing of the coal strikers, were to see the people here in the east walk not only animated by the same thought up ana tane tneir medicine. Tney but that thev used almost the same otea tne millionaires into power ana language. Here is the deadly .parallel: the coal out of their stoves and now are howling because some one does King George III. "The rights and interests of the American colonists ttiS?'J 7 aboui will be looked after and cared for, not getting up a mob and going down and k QCTio.. k1 k,. SK.. "ST" Mnd of bTrktiargenSn whom Thompson For Schools For the past nine years I have known Hon. W. H. Thompson quite intimately. He is an ideal neighbor and a public-spirited citizen. And also a successful business man. As mayor of the city of Grand Island he car ried his business tact and rare admin istrative ability into the management of public affairs and thereby won the confidence and admiration of his fel low citizens. Mr. Thompson has been a trustee of the Grand Island college since its or ganization, for many years being the chairman of its executive committee. As such trustee he has freely devoted his time, money and legal services to the furtherance of the interests of the institution. ' - I know Mr. Thompson's symptahy and influence are always on the side of religion and morality. His con tribution for the support of both mi& Isters and churches have, been both generous and frequent. Very truly yours, GEORGE SUTHERLAND, Pres. Grand Island College. will have to take their medicine. They "now want the government to own the mines, but I asked them why they dldn t vote for the party that has been fighting for public ownership for the last ten years. I, as the direct representative of God, have appointed to look after my lands in the western world. President Baer "The rights and in terests of the laboring man will be The democratic party of New York lo.2?e,? afte nlcar? f not by the has a grand anti-trust platform, but they - nominated Bird Coler for gov agitators, but by Christian men to whom God, in His infinite wisdom, ernor and he is a Wall street broker I18;3 Z1 the control of the property and the president of two trusts. ' A fine man to nominate on an anti trust, democratic platform. . P. J. CATLIN. Oswego, N. Y. interests of the country. Mr. Baer has been unfortunate in his selection of a model. George III. never forgave the Americans who re belled against his tyranny, and it isn't lively that Mr. Baer will ever be rec onciled to the policy of liberty in the coal regions. But the rebels of 1776 are honored by the succescsors of George the king, and the successors of An Oregon PopulUt Editor Independent: Look out for barbed wire fences until 1904 and prepare to bury the republican party Mr. Baer are quite sure to regard both in lwus oy tno populists and socialists, arbitration and Industrial progress LOSSEN TOLEN. with favor. Thus does history repeat -ossii, ure. . ltself.-MJhicago Record-Herald. As some wrong statements have been made and circulated among our preachers, I am glad to say, in the in terest of justice and fair play, that Hon. W. H. Thompson is regarded by the Christian people of this community as a man of sterling character and a warm friend of the churches. While he himself is not a member of any religious body, yet he is always ready with voice, pen or pocketbook to help on every worthy enterprise. - At the recent session of our annual conference his fine home was cheerful ly thrown open and a number of our ministers were welcomed as honored guests. W. W. CARR, ,t Pastor First Methodist Church. Grand Island, Neb. It will pay you to read the advertise ments and take advantage of the bar gains offered. No Such Thlnj Eftr EiiiUd orErer Can Xxltt la Civilized SocUtjr The Indepenent has long been beg ging the people and especially the voters to read and "think." The re sult of it is that in all the states and territories there are readers of the pa per have been engaged in "thinking." Among them there are many fair econ omists, and the professors in our great universities, who have an idea that the intricacies of the science of political economy can only, be understood by the liberally educated and scholastic class, would be greatly astonished to hear some of them discuss the ques tions which, have been treated In the great works on that science. But while The Independent has done some thing toward getting men to "think," the gerat mass were satisfied to follow their party leaders, swallow, all the catch phrases and adopt all the sophis tries of the politicians whose greatest object was "to keep the party in pow er" so that they might themselves profit thereby. Recently something has happened that has set a great many men to "thinking." The divine right to do what one pleases with his property, regardless of the public welfare, has been called in question in such a way as to "force" men to "think." After thinking, as is always the case, they want to express their thoughts, and that has produced some articles in the dailies (strange as the statement may seem) that have been worth reading and their educational effect will bear upon government in the near future. So far, none of them have taken the true stand, that there is no such thing as the absolute ownership of property by individuals and cannot be, if by that we mean that the owner can do what he pleases with his property un der any and all circumstances. How ever, in this discussion some things have been well said, and among them is the following article written by William E. Singleton and first printed in the Chicago Record-Herald: The plea of Edward S. Elliott for the sanctity of property rights of the anthracite coal operators contains pre sumptions which appear to me to be not -only unwarranted, but dangerous. He says: "Each individual has the absolute right to control and do what he pleases with that which is his own." I , submit that this sweeping state ment is to put it mildly a mistake. I may own a lot in Evanston, but if I open a saloon upon it 1 win soon learn that the city has rights superior to mine. . If I should start a glue factory- in Hyde Park I would speedily be taught the same lesson. If I try to make a bonfire of my residence I will learn that such use of my property is contrary to public good. Many similar limitations will readily suggest themselves without numeration. y Again, there are distinctions be tween different sorts of property, as to the degree of control which the in dividual owner may exercise over it In some sorts of property, like the an thracite coal mines, 'for instance, the public has a much larger interest be cause it has become a necessity to the comfort of the people also to the in dustrial progress of the nation. From its very nature it, like the railroads, is a quasi-public property, and this characteristic is enhanced by the fact that the production has been monopolized by -a few men who also own the railways which haul the coal to market One of the conditions of such quasi public property is that while the own ers are entitled to fair, reasonable profit on their investment (not on wa tered stock), the public, through state or national government, is entitled to supervise the management, so far as to see that the public interest is served. The underlying reason in . this, as in all other limitations of individual owner ship, is "the public good." The individual owner owes his property rights to the consent of th-s public, as expressed in constitution and statutes. -: But in every instance and in all countries his individual rights are subject to the prior right of the public. ,If, for instance, John Smith of Os wego county, New York, had monop olized all the land in the country ca pable of bearing wheat, and, getting into . a controversy with his employes had refused to consider their de mands because they had organized In to a union, had refused to arbitrate, had called for an army to repress al leged violence, and then had failed to grow wheat when protected by 10,000 armed men; had spurned the offer of the president to mediate in the Interest of peace and for the public welfare, I submit that John Smith would have by his success in monopolizing a pub lic necessity made his property "quasi public;" that is, the public by his hostile act in creating a monopoly has acquired the right to supervise. and if need be to control his wheat growing property. In other words, John Smith of Os wego, N. Y., monopolist of all the wheat-growing lands In, America, WOUld not be permitted to say to the su.uuu.uou of citizens: "Tnis is my property. I will do with it as I please If I don't choose to grow wheat, you can live on corn, or straw" In that or any analogous case eith er .the state or the national govern ment under our theory and practice has the right to take possession of that property so monopolized, and can rent It to the public use afterward, allowing the said John Smith reason able compensation. Mr. Elliott's con tention that In all cases of the exer else of universal domain prior litiga tion to establish value is essential Is equally unfounded. Here again a dis tinction exists which Mr. Elliott hns overlooked. Most of the statutes regulating the exercise of the power of eminent do main refer to the delegated exercisie of that power used by .railways and other "quasi-public" corporations, and do not bind the national or state gov ernments when in a great emergency the public good calls for prompt action. Indeed even the municipal govern ment can appropriate and destroy my property without asking my consent in the face of such an emergency. For instance, a great fire is sweeping across the city. The fire marshal thinks that he may be able to stop it by bloving up my house. v Does tie wait for a decision of a court? Does he stop to argue the question with me? No! He says: "The fire is coming. I'm going to dynamite your house. Get out" 1 If I say I won't have It done he ps plies: "The publia good demands it: get out" But I say: "I have heirlooms I want to save.' He replies: "There's no time to wait; get out!" And I have to get out Public good demands the sacrifice of my individual right to control, but I have the right to recover from the ac tion the reasonably pecuniary (not sentimental) value of the property i?o taken for the public use. Innumerable instances of the exer cise of such powers of appropriation for the public good might be enum erated, but the above will surely suf fice. A great emergency justifies prompt and drastic action by national, state or municipal authorities, leaving the ascertainment' of value to subse quent action. ! For instance, when the opportunity of buying the Louisiana territory oc curred to Jefferson" he knew that the constitution conferred no such power. Strict constructionist as he was, he was great enough to realize that con stitutions and laws are made for the people, and he did what he knew to be for the well being of the people. So in the emergency through which we have just passed. President Roose velt would have been justified in seiz ing and operating the mines in the in terest of the people when the operators refused his well meant 'offer of me diation. He might have held this power over them to compel a recogni tion of the miners' union, but, consid ering his environment, he has done well. The public through his efforts has gained a truce which may last for three years, and has escaped the danger of a coal famine this winter. It will be well for the operators and all monopolists who believe ' in the divine rights" of th Individual or corporate owner to remember that the tmblic has superior rights which it may In any emergency enforce. A WALL STREET TOOL Mickey's Record We have before us the Nebraska House Journal of 1881, which . Is . t he official record of the proceedings of the. house during the legislative session of that year. In going over its pages we find many evidences of Mr. Mickey s work In behalf of the corporations. And in not one single instance do we f nd that he ever voted-against their interests. He made his vote' count al ways on the side of the roads that charge all the traffic will bear." Hre is what we find from this official rec ord, and we give the page taken from in every instance in order that It may not be said that we have printed that wLirh the record does not contain.. Page 126 Voted against the appoint ing of a committee to draft a maximum freight rate bill. This resolution was introduced by Mr. Moore, then irom York county. Page 722 Voted in favor of the post roning action on house roll No. 121, a bill to prevent extortion in freight charges, etc. Page 723 Voted against Advancing house roll No. 121 to a third reading, and being with the minority was de feated. Page 725 Voted against the passage o? house roll No. .226, a: bill declaring that railroads shall not limit their commtn law, liabilities, by receipts reouiun to be signed by shippers. Page 841 Dodged and failed to vote for senate file No. Ill, a bill fixing a maximum standard of freight charges to prevent unjust discrimination, secret rates, rebates, etc. Is it any wonder that John N. Bald win, general attorney for the Urdon Pacific railway, should have declared ten days prior to the republican state convention that the roads had agreed upon Mickey as their man? Is it any wonder that Mr. Mickey says that he has not made any promises, and that he does not intend to make any? The railroads do not need any promises from a man who has such a record of faithfulness to corporate rule behind him. : 1''" Are. you willing, Mr. Voter, to help continue the railroad rule in Nebraska, or do you want to see the rates of the roads decreased and they made to pay thMr inst nronortion o taxes? You will have to answer this question with vour vote In the coming election. You are either for the interests of the state or those of the railroads. Osceola (Neb.) Democrat. - V Very Provoking The Easton, Pa., Sentinel, after giv ing a short speech, made by "a citizen of Nebraska," in that place in the autumn of 1896 in which he denounced "special privileges" says: "It was most provoking In 1896. to see men who would have been ben efited by supporting Mry Bryan to vote aealnst him, but it Is still more so now to hear these fellows talk of combating evils that Mr. Bryan cau tioned them not to help promote. We believe the same people, however, are ready and willing to be humbugged again. They seem to like it They had one chance to show that they were men and they threw it away They deserve no sympathy now if they are injured and wronged."; Th TwiaU and Tarn That the Comptrol ler Kmploya to Delv th Popl Bank KtMrtei Continually Grow Editor Independent: For four or five years I have had my name on thi list to have the comptroller's abstracts! sent to me, but I did not get No. 2i until I sent for it My article on this abstract had only just been mailed when I received No. 30. I have formerly mentioned that th comptroller has changed the form- 01! the most important table contained in these abstracts, so that it is now nec essary to consider the table in a dif ferent way. What was the purpose of. this change I do not know, but that it has not made the. abstracts any mor easily understood is very certain. The table of "deposits and reserves" now has a column headed cash on hand, due from reserve agents and in the redemption fund." This bunching together of two or three things pre vents the amount of cash on hand from being readily seen as it could before. It now requires considerable calcula tion to get at it This bunching also carries with it the pretense that tho amount due from reserve agents in cash, when the fact is it is no mom cash than the amount due from other national banks or from state banks, or in fact the amount due from "loans, and discounts." Nothing is cash that is not money on hand. A deposit by one bank in another bank is not cash. even if the bank receiving the deposit is called a reserve agent. It ought to be well understood that deposits in banks are not cash in the hands of de positors, but liabilities of the bank to depositors. What the comptroller calls "cash due from reserve agents" is a liability of one national bank (calle.l a reserve agent) ror a deposit mada by another bank. It is worthy of mention that tha reports required by the comptroller to b3 made by national banks to him, and that are the .basis of these abstracts, do not contain any such pretense. That which In the abstracts is called cash due from reserve agents" is in the reports themselves called "balances with reserve agents. Every bank la required to report to the comptroller by items the actual cash on hand. Th comptroller is not compelled to make calculation to find out how much cash a bank holds. If this is important to him, why should not the abstracts also show it In the same way. The people have a right to ask the comp troller to make his statements to them as plain as he requires the banks to make to him. If he does not do it, we have a right to charge him with being a party to an attempt to conceal the real Situation from the people. In stead of trying to make things plain. he is chargeable with making his al- stracts so that the average reader wHl not observe some of the most import- ant" facts relating to the condition of" national banks. The abstracts previous to No. 2S were obscure enough, surely. I had some correspondence with the comp troller "about them, as your readers will remember, by which his atten tion appears to have been called to the fact that the abstracts showed rather to distinctly two things: the amount of cash the banks are required to hold; and the amount actually held. Imme diately after this correspondence he struck out of the abstracts these two columns. I had called his attention to a mistake made by including, under the head of "reserve held," balances In the hands of reserve agents not avail able under the law as reserves, and which made it appear that a bank" could have a full, lawful reserve, and at the same time a short cash reserve. This mistake first appeared in the second abstract issued by Mr. Eckels on April 9, 1897, and ran through ev ery one down to No. 28. Instead ot correcting this mistake, when it was pointed out to him, the present comp-i troller tried to excuse it and cover it up. He changed the form of the ab stract table In-which the mistake ap peared, made it more obscure than it was before, striking out or it as stated above two most important Items of in formation, so that it now requires an expert to get out of it what the public ought to be able to see at a glance. , By "this new arrangement, which makes no pretense of showing cash reserve required and held by banA, but which bunches together "cash on hand" and "balances with' reserve agents and in the redemption fund? and then shows this as a percentage of the deposits upon which reserves are calculated, and puts by the side of this column a column of the amount of re serve required (not cash reserve it will be observed), so that a comparison la shown where it ought not to be made. By this arrangement the same result is reached as was reached by the mis take mentioned. Even with this er roneou comparison, it still appears in No. 28 that five cities had not enotigh "cash on hand, balances due from re serve agents and In the redemption fund" to equal the amount of reserve required of them by law to be hld. At the same time, sixteen out of thirty-three reserve cities were short in tueir cash reserves, and, therefore, short in their lawful reserves. In this way, in No. 29, it is made to ap pear that only three cities held less than their lawful Teserves. At the same time, eleven cities aire short in their lawful reserves. (Keep in mind the difference between lawful and cash reserves.) In the old form of abstract, with a column that showed the amount of cash the law requires to be held and another column by the side of it show ing the cash actually held, it was a matter, of but a moment to make the comparison; but with this new ar rangement a calculation must be mada to find out how much cash the banks of each city ought to hold, and then
