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THE ALLIANCE-INDEPENDENT.
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TEX
ALUAEGE-IHDEPEHDENT.
OesMott&aatoei of th
jsl2cK25ttnsii Isicpcsdeit
Tata AlXLlHCE PDBUSHIXa Co.
tiM M 8 tree. Lincoln, Net.
a w Pre. H. 8. Bowbh. sec y.
li, n, E. C. ittwiau
" O- Kiuol.
Sas9auFTi02r On Doixab f Ybab
n RMiu cihdi Iditor
ZTaTV. uurru Buine Manager.
X W. MM nM&""'.'.': .7". VsubecrJptton Dep t.
M K. UTATT KjTrtllDf!
II any man sunt fall tor me to rise.
Vms Mek I not to cllmh. Another's Pln
lafcooMDotformygood. Agolrteu chain.
A ash of honor, to too good ft PU
TW tempt my hay taad to do wrong
Oue ft fellow man. Tkla life bain wo
wrm;ht bv man's satanle fee;
AaaWhothet haU heart would dare prolong
tar add ft aerrow lo a strlcaea sow
l eaehs ft healing bain to make it wnoier
iowu the brotherhood of man.
IZIXlftMwiUhe proapuy aieeoftUane
teapftratlua of lime nam for aaiea we iv
m earetnl that eiJ asm are oorrectiy
samee and proper poatomoe bitu.
SrMtnni auhsPtfcma, return envelopes,
XSuMh. had on wutus it.
aiwavs stjrn year name. Mo matter now
Jimjv write oa do not neglect this Import
a matter. Bvery week we receive letum
bxioBDlete sifrtissssai or without slgne
5m enaii tosomeUme difficult to locate
Caiaeoft of idmiu. Subscriber wtohlnf
hete Ueir postofltoe ftddreea moat elwar
av their former a well aa their present ad-
STftSuce.
obi. rumAUAAcKjw
HU8H A MOMEIT.
Huh a mumear-Hear Ue awuul
Uig op the world around I
Tl the moaning '
ind the groaning
Of the hoat oppressors wound :
Tla Ue sighing
And the erring
XM a thoMftid millions bonad.
Mother Karth't great heart to throbbing,
While aha heart her children nobbing, ,
And the pitying heavens resound.
Tyrants bear it.
Ay, and fear H.
"Jattacs" la the prayer the; niter ;
JnOgmeat to the word they Blotter ;
and Ue Lord of Sebaoth listens
1 the cry of mllUoss bonnd.
Be who apraki In clashing thunder,
Yet ahftU break onr bands aannder;
BUkering name and foaming torrent
Vet ahall aweep and roll thereunder,
And the throne of God shall triumph
Over all our foe abhorrent,
Orar all who bind and plntder.
' Biear aad hetd the ancient warning,
Ta who etinal right ar. scorning.
Think not men can atead anahakeu
Oa the toad their greed baa taken,
e who made the clouds and fountains,
Smoothing plain and lifting mountain,
Storing earth' eibanatlea treaaure.
' Muring each an tqnal measure,
tttlll to tord of all the ground - . .
And of those who fence it Yound
4ailgment In Hi hand 1 found.
Therefore fear Divine dlMpleaauro.
JfiuUce oomea-inluaUce knowlUK,
Hatred of lu power 1 growing; ,
JwOioe tarrying long restated, ,
leas, ne the floods, white-created.
: Oare, In age long before,
Did the wiadaand water roar; ;
KeaubUng, muttering voice, grumbilnif,
' Jarred the depth and height profound ;
iralrUag winds and water swirling
Swept, away each ancient bound;
Aad the armament seemed, falling;
Ikp to deep was loudly calling.
And, 'mid hopeless shriek appall Inn,
ell enlarged lu yawaiag wound .
, UBOBOB Howard Gisfcoai.
. Down with the usurer' gold baais
taatjclA' ayatom.
Wtu. conOJence be rtxitortnl now
that the Sherman law U out of the way?
"vYilX the fife coinage of allrer meet
with flr treatment In the regular aca
frloa tl .ongreie?
Yes; the repeal of the Sherman
Ul will help h nines wnie. Tho poat
Seea will now be ulatrlbutod.
AuutlCA money for American labor
had ail that i needed, twued ta the
pawpl without poeelble profit to private
money loaaera.
Tukv are now going Vi try to hold
Bryan by feeding hie people with "pie,"
the a4eoa that are tuft. Ue will also
get a few plum. Can they buy hint
aewf WegueneV
' mai-iii1 u-.,jij.iuuuijj
Cmlo U rowlag to tM eountry ta
grant eaatiUee! Soay UeanbaldUtsi
peawV What la the moving elutnl
Wheat at U tat ir hiwhal. IUw do
fosalllinU Mr.timaer?
- J I J i i. i . n u i i I
INi el Ue imie Itetaa whU'h g v rn
ajMatuarhip4 the raUroedt would
aae the pwop'e, l the auug auta ef ii
aUUoetlollareyvatty laUieet, how pIJ
)he U freight ar4 peeager tadlt.
Wt new pay Ue full tymXvl th aervU
h4thla hweUUa, In the ahape of hot
peotVU tw aapeyi4 aUwlhol4r.
Thb latnei aad it rruftt draia I
la Ita eatirety, el h4tt!eg ilnnt.
! Mihoaea
N. L P. A. -
TUXT WEEE FALSE PE0PHET3.
Dja'a weklv review of trade after
the cat tare of the repeal bill aay
The repeal of the eilver porchaee act
doee good already."
ButafW thowlng that it wan too
soon after the passage of the repeal to
be felt to any great extent by trades
and manufacturer, but that bankers
were more liberal In accomodation, it
farther aajt:
'Tho action of eoneres haa lues vial
hU influenza tiDon the gpecB'nUve mar-
kau for uradncU. because the foreign
market obetlnntely refused to accept
the higher valuations which speculators
oau trieu to eseoueu uvu yy-
across the water award unstinted prais
es to thoee who tecum! the passage of
the repeal bill, there Is little disposition
to pay higher prices on that sooount tor
wneat and cotton,, in view m me giwai
abandance of money in speculative
centers, the weakness of markets Is
mora aia-niticant: Industries could not
ha ei rated to mske any material gain
as yet. but the demand for textile pro-
ducts nas to some extent imprwveu.
The metal-working Industries manifest
little Interest as Tet. ice wiuur mown
markets are weaker as a whole.
The volume of domestlo trade trains
but little, exchanges, outside of .New
York, being 22 W per cent, lower than
but rear for the week. The export of
prod uc's for the past month have been
about 11,000,000 larger than last year's,
while Imports have been about tl!,400,-
0U0 smaller, which Indicate an exoet
of exports of 130,000,000 or more for the
month. The railroads have been doing
a little better though returns do not yet
come ip to those of last year.
Failures for tbe week number 3T8 in
the United States, against 238 last year,
and twenty-eight in Canada, against
thirty-one last year. Only tire concerns
failed with liabilities exoeedlng 100,-
000 each.; The aggregate of liabilities
for the week ending October 2d was
arger than of late, amounting to 17,-
400,000 against 15,800,000 for the pre
vious week.
It was thought speculation would raise
prices for a short time at least, so at to
show the benefits of the repeal. Of
course all fair minded men who had
studied tbe question would know It was
nothing but a blind; btt thousand
would have been fooled Into the belief
that beneficial legislation had been
accomplished.
But ''though people acrOrx the water
award unstlnU d praises to those who
secured tbe passage of the repeal bill,
there It little dlf position to pay higher
prices on that account for wheat and
cotton." and our own speculator! and
capitalists teem to be nnable to accom
plish this resnlt without the co-operation
of the foreigner, who, after the bill
is safely passed, "obstinately refund to
accept tbe higher valuations which
speculators had tried to establish."
The report further thows a balance
of trade In our favor, ot about 120,000,
000 over that for the fame week of last
year; but oh, at what a cost! Our wheat
and cotton, the principal product we
export being told at lest than the cost
of production: and our people too poor
to make their customary purchases of
Imported goods Into 119,400,000 worth
for ons month. Bat will some capital
ist have the effrontery ta say that our!
people are the better off by leason of
having traded this nineteen millions at
home instead of abroad? The tamo
report answers tho question In a forci
ble manner. It ays tho volume of
domestic trade outside of Mew . York i
waa nearly twenty three per cent.
ower than for the same week last year.
Lot the thoughtful reader contem
plate the last paragraph of tho report,
which shows 120 more failure la the
Uul ted States, than for the same week
of last year, and the liabilities nearly
two million dollars more than for the
wet k before.
IB0REA8E Or THE M01EY POWER
Fredrick C. Wait.', (Hup.) special
agent of the census bureau, snys, Aug.
The funded debt o' railroad in
creased from 12,392.000,000 In 1380 to
T,4ti3,0O0,OO0 in 1892-au Increase of
129 per cent; the loans aad discounts of
bauks, other than piivaf ones, rose
from l,.172,O00,00O to 93,300,000,000 in
tho sane time. " " "
Tuo most astonishing inctva of all
the real estate inottga?e indebted-
nss. ine aggregate lu jssu was only
2,f00,0i O.0OU while the amount In forve
at the v!ott of lHS'J H,.Yl7.000,000-wiUi
Ohio, Texas, California and whoe
groups of lessor stater yet to hoar fiom.
The grand gr gau will not U lo
thun i,ao0,utio,0oo an inorao of '.,-J0
per font., or nearly fuur ilnttt the in-
ovM) la the true value of n al relate.
fu a word, the total net pllvMie ludubt-
tdnvss of the Aitur lean p-ep!o la 10
wsa only i,:.V).000,tMHI. lAt Soptem
her llSKi) It e lw,7.O10Hi,tHjo-u In
crease ot thirteen bullous tn twvlve
jears"
If the forego.bg hl bea written by
lVpuUst, he would have bueu branded
a calamity howler and unfit to live.
Hut whether turaished by a IlipublUaa
or a I'opulUt the facta remain the same,
and It U now embarrassing the great
dnanvler (?) it this couatrr to eiplala
the raaaodoMiujenolihituUva.
Allow lag tnt highest nd moat lib. rl
eetlmat'sof th gold atlvjMVKt, to
the amount of gtd la the eowatrf , our
private ladiibtedeeia alooe ovrhadewt
It fjreal i W limes, Twaty eight
tint a4 muiU pfUate IhlevMtm
ylng aoihlog of the publtti Ucbt rva
sUUng f neUutta!. sat and maulclael
nHtd aad obligatlaea, as tbrv It g 1.1
lalhscvsiatri; piUvtgwlJgdu, dwa,
ta tap.hy with unurWrHt Kvvr,
basknti't Uh f itdrvkand( king
,'U' n ! om hsrly every Maintwsiw
ar of our lwa ilul t USw at tm u j. to
1", por oeat. "f tbslr avUal am) K g il
maw tost; larwi teii,g nJ ulr
fvHrevUur at Um tlai vn-Vlnt kt
they would bring if money could be
had to purchase them; the family xw
that furnuhes the milk for the innocent
motherless babe, being driven off by
the sheriff to satisfy the greed of Shy-
lock: hundreds and thousands of our
brightest and beet men made total
wrecks financially and many mentally;
all through tho damnable curse of our
money system. " f "?
Doar' reader do you want . a gold
standard of money? Will you study
this question think for yourself? I
. For the sake of your homes; for the
sake of your beautiful, innoount little
children; for the sake of humanity and
all you lore and hold dear on earth and
hope of f utuie reward In heaven, don't
let John Bull and John Sherman do
your thinking for you any losger. .
WE, THE MOSET L0ANI5Q PEOPLE.
The Chicago Economist, speaking for
the proudly victorious gold bugs and
capitalists, says several things in its
ast issue which will not a little interest
our renders. We shall quote here and
their from lis editorial without doing it
the least injustice. Hear, and be wise:
"But tbe right thing to do with the
currency is to let it al.ne. It Is not in
an ideal condition, to be sure, but it now
menaces tbe country with no crt-at
dangers. It is based oa gold, and in
view of the resources of the country It
1 not greatly overloaded with the ele
ment if credit The only measure that
may, at times, have seemed desirable
was that of giving tbe secretary of the
treasury authority to sell bonds for the
purpose of replenishing the gold re
serve, but some lawyers claim that ha
now has tbat authority, and there is
little probability that any such step will
be necessary, for the buying of our
securities by foreigners will presently
wring us plenty of gold, a large portion
of which will go into the coffers of the
treasury."
Tho next paragraph especially notice.
You remember what a demand there
was from all political quarters for an
international money conference while
the political strength of silver was
feared. s,
' Much has been said for some years
past about tho desirability of an inter
national agreement in regard to the use
of silver. There have been times when
such a measure would have been an ad
vantage to us, but that was when -we
were under tiie spell of the silver dela
slon. We can' now look on the subject
with the utmost indifference Perhapi
It would do no harm ta hsvo an interna
tional agreement, but it it not worth
the slightest effort on our part. We
can afford to let things rema'a as they
aro and go about our business. We
have abundance of currency for the
present, and the future for an indefinite
period, and we need no help from for
eign nations." I ., ' ?.
But thlt "we," who have "abundance
of currency," is not to lare a ''we" as
to pak for the whole country, al
though it is evidently laboring under
that dclus'on. .
EFFECT OF REPEAL Of THE 8T00K
MARKET. :!
Kvery bank and board of rale and
every laat one of their financial and
dally report baa been iterating and re
iterating that the repeal of the ' Sher
man law would at once restore confi
dence in business circles, would call
forth capital for investment, would
raise the demand and market value of
stocks and securities and set to hum
ming again the whole related hive of
industry, ' !
The Sherman law has bea repealed,
and what was the result?
A Very notable decline In the price el
stocks? "The bulls apparently had
counted on heavy buying of stocks for
foreign sooount to follow the repeal,"
says a financial report, "but in this
tUoy were disappointed." The high
prioed grangers and Burlington sto;k
suffered most. Burlington fell from
874 to 811. Several points were also
chipped off Kock Island, Northwestern,
St. Paul and Atchison. "In the Indus
trial list Sugar was, ss usual, one of the
most popular trading stocks. The
tendency of the market for it was on
the whole downward," however. Chi
cago Gas stock weakened and went
down, and Cotton Seed Oil suffered a
break ot six or seven point. General
Kxotrle stock was stubborn, but the
general tunuVncy of the market forced
It down.
"The attitude of London in regard to
the market wis a sore disappointment to
the euthus'astlo bull, who exported to
ficd foreign Investors anxious to huy
Amerluaa stocks, as Hn as the sllvor
law was out of ths way," say the Xew
X ork stock market reporter.
Tt: Culoago Economist ha Informa
tion from Fall Itlver, Mass , shewing
that "diMplie the period of uepreiatoa
auU eonwquent Mlena aad low prlje
for roda the mills have oon earn
ing varylag f rem 10 lo ii per rent, of
the tavesWHl capital. What da yeu
thlak ut that, ," rUui and farmers
aad atevhaald voatuutsr? T to
tweety-tve pr waL of the satire In
vealmeat tsksn eves la this dreadful
year treat the eat alng of labor to sap
purl tdl HMLey lurut, or to faraUh
tWntti wavrtwUhtobuy tip tavwh
1 1 ta. aa4 ItaJ, and Other monopuM
W"W!WMMJ ll,,IUft
ttai hUlo4 deilare tf Amcri
m UUe rw held Wwd. W are pay
tsg a vawrntt'ly gieur ytaily U
ta fvttosvsn tuuaey lords m ttiaa
that wkuhtHtr fahr rfu44 to p,
ad be etd p Jr ysast Wmi
plsg Moidsr U solia U ! all
a tlrtaia
THE LABQR-LEYELI5S GULD BASIS,
rerhsp) iotse of our reader do not
fully understand the workings of our
present monetary system In it relation
to labor, or wealth production, and
would like It simplified so they can
grasp il. We think we can make it
clear to them and show how unfavor
ably the gold basis affects them.
Gold is great leveler of those who
labor. Make it the basts of the world's
currency and it will reduce the produc
ing classes of all commercial nations to
the same condition of dependent pressing
poverty. Continue it a the money basis
and it i res istlessly aggressive power
in the hands of the principal gold and
land and capital owners. ' : ' ' '! "
We have shut onr mints against sil
ver and degraded It; we have made the
sum of gold coin the limit ot "honest"
money, "intrinsic value" money, the
money of ultimate redemption. The
gold of commercial nations measures
and absorbs all other values. With us
every dollar of silver and paper rests
net on a gold dollar, for tho paper and
silver dollars several times exceed in
number the gol dollars, but on what
gold we have; and what gold we have
we do not have a clear title to or lirm
grasp on, for all our foreign-owned in.
terest-bjaring stock aad bonds and
mortgage, thousands of dollars worth,
must be paid, interest and principal, In
gold. And Ike only wag tet can get the
gold of the world to pay our dtbte and tut
at currency U to offer mrt products of
labor etuaper labor) for it than other na
tion will. All the gold produced In tbe
world, except nortqexbeed $25,000,000
a, year, is used in the arts. So the only
way to get it is to bid in the . world's
markets for it against other nations
And tola means that our nation will
lewe her "honest" money, , her gold, if
American labor la not forced , to accept
the wages of the pauper labor of Eu
rope. The tariff cannot prevent this. We
even have the disadvantage of being in
debt to English and other foreign capi
talists in enormous amount, seven or
eight thousand millions, and the gold
interest and dividends ot this sum we
lose each year. . -
Gold has bjen demanded as debt, or
bought away from us by cheaper labor
for some time, and the outflow of our
money basis has been creating con
a'ernatlon in business circles. But ob
serve, it is the mortgage-cursed farmers
and cotton raisers and our lowest paid
workers, who produce for tbe world's
maiket, who are compelled to buy back
this gold by selling thirty-five cent
wheat, and seven cent cotton, aad other
equally cheapened commodities, tn
ao pther wsy could gold be b night
back tbaa by this process of cheapening
Amerlcin down to the level of the
world's labor, the pauper labor of Eu
rope. Kvery time goia settles away
from us in a general movement, down
must go the prices of farm products and
the wanes of labor to draw it back, un
less we borrow it back with bonds,
which is worse. Every time it goes,
too, a large block of credit, which
rested on it toppU-e orer, and the more
paper and silver dollars you have
resting oh gold dollars the more risk and
loss will bi attached to business enter
prise.
No nation can be free or provide pro
tection tor its citizens while it binds
them to buy gold in the world's markets
to do business with. Thrift walls
amount to nothing to prevent the labor-
cheapening, labor-leveling procesf.
Cheap labor, cheap commodity produc
tion and Intercut debts will draw gold
awuy from ns, tariff or to tariff, until
we can send cheaper goods to bty it
hack. Amerioan interets therefore
demand American money, furnished by
the government la volume adjusted
always to our needs, a system of gov
ernment btnk furnishing loans and
providing safety fo depositors.
When will the old superstition and
the Shyhks that tench and preach it
ba overthrown?
SHOWING THE MET PROFIT DRAIN.
Tho Alley Elevated road ot Chicago
reports earnings for six months from
Mar 1, ISO.-., as follow:
Cross carulug 1,121 22.1
Opt rating expenses 107,4,8
Net profits ftWUOS
la the cxpncs Item U Incliultnl coal
oil, wer and War of vuglnos, buildings,
car, etc , Insurauue, t its, interest on
borrewtd capital, and jgts. of oil tm
plow And yet It tucks uearly I2ki,000
of the sum which the uon-working
stockholders put Into their poukets
with as much satisfaction a lonauleaoe
leaa rob tiers. We do not sty all this
hjlouged to the aiaaagr and operators
of the road. Hut if Ike labor employed
Ut watjes or salaries did ao earn It,, It
belougHl to the uncharged paager.
Cvvtwns.1 adjUM rued last IrUay
after a toog aat tedious coaatet t
opposing latere. The a4veeau4 of
the slsgl etaadrd4gld as the nosey
of our notion, were vkiievhw; hut what
the Irum-sltaVs rweuil will Ui W tftrd to
rtdtot with nay dree i t certainty.
Iter Is U'tV aWJt. eitat lu ths ml ad
id th wrl;t, what the ult.iaata iult
tli bv, and ta la th not far dUUat
fulnrsK Tbe witter at m 4IiULm
to bean eUnul.t, i-c brrw trouWe
v.r lfcttflary stl'a thst may ttf
ttist; M the h!M of eatUiatltlu It
ajatag volt, asd predict
th tt, l tt fvU sU iJa d he elam 4 to
and bo relief given by legislation, oar
free institutions will swiftly degenerate
into barbarism, and our proud Republi
can form of government will be ao only
in name; if indeed it enjoys even that
dfstinctkn. But as the money power has
forced ibjs. conflict at this time, and as
this same money power has foretold easy
times, a resume of all business and great
prosperity, -if the svcalled Sherman
silver law could be repealed; and a the
weal or woe of this country is within it
grasp, (at least until the people wake
np to their true condition,) there is
glimmer of hope that there will be at
least a temporary easing up of money
matters and a revival of business. '
THE HTJ8HE88 ' FUTURE F0RE-
- " 0A8TED.
la a clipping from "Principles" of
Economics," found in another editorial
column, a great truth, which almost
everyone knows, is very clearly stated,
namely, that a falling market it de
sirucuve or business, tbat a money
which is appreciating in value, in it
purchasing power, ruin busin ssa men
and throws the producing class out ot
employment.
Yet In the face of this fact, and with
a knowledge that over 3,000,000 workers
with ir,0 0,000 dependent on them had
for months been compelled to remain
idle, Congress at the demand of Die
tator Cleveland and hit Wall Street
friend, ha cut off our one Insufficient
money supply at remedy for prostrate
btutintu. It is not simply "the hair of
the tame dog,: but the old teeth, made
longer and stronger,' which they ..have
without restraint brought back to the
bite. The wound can only be made
wjrse, and a little more ot this sort of
"cure" will kill tbe patient. Prices
bad continued to fall while $3,000,000
of silver per month was being pumped
into our feeble, Insufficient circulation;
and with this stream of life shut off
they will of necessity fall at a faster
rate, with the inevitable result that
while prices are falling misery will be
rising.
The only remedies , which our WM1
Street rulers propose are slow poioon.
They would call them all "the gold
cure;" but in wha'eyer torus we take it
it means slavery aad slow starvation
for the muses. .We can get temporary
relief by running deeper in debt, that
Is,' by buying their, gold with a new
issue of bonds, which they are pressing
us to do. ' But the whole bond bualntes
is an ever sinking quagmire, a bottom
less pit digged for us by tbe usurers. The
more bonds the greater Interest draia
from the wealth producers. And if more
money must depend on more debts,
more gold bearing obligations, then the
devil have mercy on us, we are in his
power. " Another way they : propose Is
to allow the government banks to issue
banknotes up to the face value of the
bonds they deposit. But paper dollars
so placed as a gift in their hands, the
people can get only by paying high
rates of interest for, and giving for them
greater gold obligations.- 8uch an in
create ot the currency benefits only the
money-loaning class.
It follows , that prices must continue
to fall, and business remain depressed,
and the willing workers ask in vain for
employment, and starvation stalk
through the lnn1, until tbe people place
a party In - pewer whloh shall destroy
the usurious gold basis money, and pro
vide, without the Intervention of private
money loaners, a currency equal to our
growing needs, a money which cannot
be cornered by money speculators.
Good times will be brought about as
soon as the bueiness men and producing
class see that the panic and depression
and universal suffering : have been
caused by money land and transporta
tion monopolists, and seeing it unite to
vote the People's - tiarty Into power
The old artlee are hopelessly chained
to tbelr Idols.
Thk Bankers Association of America
ha lately held its annual meeting at
Chicago. The usual amount f owl
wisdom about "sound money and
'honest" money was served up to the
gaping worship rs of Wall street
"Cnsnwrlng". Hut what do you think
ot this? One paper reed at on the
subject. "The Construction of Good
UwdsaMattor t Finance." Didn't
know all thi effort to stir up the farm
er to interest themselves (n the good
roads question was a bankers scheme,
did you T Weil It wa, and Is. They
want you to Uue more oounty bond to
build rad, whloh they can buy at
a disveunt snd use as security tor state
taak notes wUn the tag Is taken off.
r. r waja that are dark and tricks that
are uu dly suooeMf il th Shyloek crowd
stands unequalled.
, Wi regret aa aforttaate ovsrslght
ta lst week's Issee, ' la aoUelag the
vasdidatse foe rvgeat o our th ket Ue
naoMi of K. I Heath) was tverlooked,
it was wrlt a ut s w ware gulag te
press aad oae res regret the over
atghl wture thaa we u, few thle vapwr
uprts koarttly the whole ticket and
hope aad hlteve It will tw eWted.
W kao Mr. lUath ad know klm to
Im worthy asd H l ulllled f r the
)Mtl0
, 1,1 n nmimiiHii.!.Ma)
T par iMhtrwats you, da t li
It ought V at rva.1 fey your lighK,
ouUta't'f Ws rau't r-4'h thm ua
Im yv4 show It to taut aad get l htm
ta mhevrtto, V. UI yi u It1
the inror of ai appreciaths
CURREI0Y. ' !-
In support of what we have written
and written of tbe evils of gold as money
because It Is steadily appreciating I
value, in purchasing labor and commodi
ties, we reprint below an extract from
"Principles of Economics," by Mr G- v
. Usborne, a new book which we shall
soon review, jar. Osborne's words will
j r a v. . . , v; .
nave weigm oecauae tney are the words
of a scientist and a teacher who cannot "
be accused of partisanship: - -
"A continued increase in the value of
money paralyse business - It is usually :
ers and business men who are in debt. .
They are the life of business; without
business men who borrow money, great
nnmoera of men are thrown out of em-
one to set them at work. The caoitalist .
can not do it. He may be a minor heir,
an insane man, a pleasure-loving man
xn curope, or a good man who recog-
nizes his own lack of biMinoaa hlHu '
The capital may be In bank, belons-inr
to owners of small snmt which they can
not use In production. The greater
portion of this capital will not be need
to keep the men of the natinn mnimui
and to carry oa production economi
cally, except in the hands of compe
tent borrowers. How much better for
the country when a competent young
maa run in debt for a farm with 1
reasonable Drosneet of navin fn it '
during hi lifetime, than if the tame :
young man it content to remain a tan. .
ant! ,
Nothing it to discourafi-lnff tn av AnhC
orastofvel that he must oar nor '
th V. Jt . ' ' .
increasing in value he must
1 he price of goods is continually fall.- .
lng, and men will not do butinest on a
fallinsr market if the
They would rather be out of business -
aouieime production of the eountrv .;.
stop; and this Vienna a flnancfal panic
in wnicn rich and poor lose ten timet
what the creditor baa gained by getting
two uiuie vaiuo man ne loaned. - -If
there were to be mv mntin,,ui .
ChftriffA Id thtk ValtlA t mnnM I 1 J
w uoiwr i uavo ii njwjy decrcate
rather than slowly increase, because
business is always active on a rising
market. Mow, it is not simply that ,
business men, who are mostly bor- .
rowers, make a little more profit; the '
important result Is that huatnAna la '
active, and every man in the country
haa an tfrtnf unit - ...1. . .11 .1..1
n w v wvi avf nsi mi. i
is employed. Mills do not stand idle.
More goods are produced, and the pen- '
pie have more. Wants are better sup
plied. It is a Question, indeed." if full
activity is
market, with at least a slight fall in the ,
value of money.
But how about the creditor? Will not
loaned? Certainly. He loses as much .
a the debtor gains, directly; but the
great gain to tbe country it a hundred '
time this, in tbe activity of business, '
in the keeping of men at work, and in
the prevention of waste. It it probable
that most creditors would pain in the
constant employment of their capital,
anu in lewer losses through failure,
more than thev loss in a slight daro-e-
clation. But the real protection to tbe
creditor is in the opportunity of obtain
ing higher interest. tufflcUnt to make
good the depreciation of hit capital-
Money 1 now loaned on the undoubted
ecu my in government Donos ar less
than three per cent, free of taxes. If
monev were derirtflfatlnir in mlno ,1
tbe rate of one per cent, a j ear, the rate .
of interest would rule at least one per '
cent, higher. Sot so much through an '
endeavor to keep good one' capital, as '
from tbe fact that the greater demand
for loans in active business would carry
the rate of interest np. So that it is ,
no imnosslble that tha lncrt&iiAi! rat
of , Interest would actually give the
lender returns more than sufficient, ta
balance his loss.
But this has been written only for
tho sske of making the subisct clearlr
understood; Justice requires that we
use onr utmost endeavor to ore vent anv
change in the value of money, but. it
mere is to oe a cnango, it is far better
that it be in the direction ot a slight
depreciation instead of an increase. An
increase in the value of monev mount
idleness, an enormous loss to a nation,
In aiiUln. .V. mM11 AM...4 i ..... 1 .
paid bv tbe debtor to tha creditor, a
AAMuaA I. tUfl M u
great irain to the Drosoeritv of the
eountrv, notwithstanding the small sum
the debtor unjustly reuins from the ,
creditor.
It 1i been found by experience that
a certain amount of sliver money is ac
ceptable as a circulating medium in all
tne goid-etaadard countries. We have
found that this country could use a larsre
quantity, but that' we some - time age
paased the limit and that a revulsion
followed. Our people believe, how
ever, that business will soon grow up to
mis gri'at buiK ot currency, iiut we do
not need anv more legislation. Chlcacro
Economist.
What a relief is it to hear the well-
satisfied goldbugs talk! We had more
silver dollars than wo wanted. Butoon-
growntour request shut tho tnlnhv
The currency Is much larger than bust
nees need, but our people bollove busi
ness will noon grow up to and find a us
for Its great bulk. And with the gold v
basis "we no not need any more legisla
tion." It should be borne in mind that
"we" means the rulers, and that "our
ieotle" are their subject.
I J. i.-L . , L.JI..UJ
THE S0UI0E OT UITAILIIO 00UE
10 E.
W believe, and the belief Is restful
ssd inspiring, that tkere are ao victor
ia for evil. It Is found oa every paf
at history that Individuals tall, fall to
grasp here the great good they live aatl
dlalor,
Trth I'MtH tu MS,
ri niwisit tkiwtM, ."'
Vet cha t4 the future
Aa4 healoal the slH kaku,
u.Uit ue t'ta tke s.i .
Uina aih si tiwwwn '
W Wltev It was urn a sluVry tor
evil when Joseph's htather s4d Lias
is to KrfjpUaa alavery, ll was net a
lcury twr etU ha "the Junttae"
t Wtiaysd hd vrtiUfisd, It was not
a vUtot evil when I r at
1
