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About The independent. (Lincoln, Neb.) 1902-1907 | View Entire Issue (Nov. 13, 1902)
16 THE NEBRASKA INDEPENDENT, ANOTHER PANIC "Wall Street Bear Bald Stock Market Hull Lose Several Millions Monday's dispatches from New, York say that the stock market was utterly demoralized and prices crumbled rap idly under the enormous liquidation. A rumor of the illness of Morgan was used with telling effect by the bears. In their naive way the Associated press reporters say: "The bear party raided the stock 1 1 A 1 I 11 1 mantel loaay, ami as a return auuruy before noon conditions were in a high ly -1 . J 4.n4.j T (M.WJnfn no 1 uuauuu suilc. uuiuauuu ouvu u has not been experienced since the national treasury stepped in the breach that was forced, and all of the active issues sustained declines ranging from one to ten points. The sales totalled nearly thirteen million shares. The slump cost the bull contingent many millions of dollars. So great was the financial, stress that three big finan cial institutions loaned from twelve to fifteen million dollars at the cur rent rate of to 6 per cent. The Na tional City bank (Standard Oil loaned four million dollars at 5 per cent." It must be highly gratifying to west ern depositors to know that a portion Of the reserves back of their deposits is being used by the great banking in stitutions in such unholy work. No business failures were reported as re sulting from this panic, but under the great bank credit inflation at present existing no one can tell what may happen. Fortunately Nebraska banks are in excellent condition as compared to 1893 that is to say a smaller per centage of their reserves are held in the oig banks of New York where this gigantic gambling is going on. It is hardly probable that the present flurry will mark the beginning of what must inevitably come as a result of over inflation of the bank credit bubble but no man knows. The Chicago Inter-Ocean approving ly quotes Philip King, financial editor of the New York Sun, to the effect that "the trouble with our present currency system is not that money is too scarce but too plentiful." It seems strange that such men persist in call ing bank deposits money or, perhaps, not strange in view of the fact that their mission is to deceive. There has Certainly been a healthy increase of money, but no over-inflation. The trouble is not that there is too much money, but too much bank deposits. The United States Investor looking to the experience of Germany the past two years, believes that the enormous Over-capitalization of trusts must soon er or later produce the same result as it did in Germany a financial crisis Which will come unannounced and with terrific intensity. It does not pre tend to foretell the time, but readers of The Independent should keep their weather eye open and not go very deeply in debt. exceptions that is substantially cor rect in recent years here, but over in Colorado they are defying tho law and resorting to all the arts known to the legal profession to keep from paying any taxes whatever. They refused to pay taxes levied and in due time the properties were advertised for sale the same a3 any other real estate. An Associated press dispatch from Den ver Monday says: , "The sale of the Denver & Rio Grande and Colorado & Southern rail road properties in Arapahoe, Park and Rio Grande counties, which was ad vertised for today for non-payment of taxes was prevented by injunctions issued by Judge Hallett in the United States circuit court "The effect is to throw the contro versy between the railroads and the state authorities into the federal court "Similar applications for injunctions will follow, directed to all counties offering the railroads for' sale."- It is a matter of conjecture . how far the federal supreme court will go in the matter, but judging from the ex press company cases the people of Colorado ought to win. Impeach Him Lewis Fink of Wymore, Neb., one of The Independent's oldest subscribers, was a caller at Liberty Building Wed nesday. Mr. Fink lives about two and a half miles southwest of Wymore and has been making some great improve ments on his farm. Taking advantage of some large springs he has con structed an artificial lake of about two or three acres and intends to erect a cosy bath-house to accommodate the visitors. J. P. Hale, editor of the Red Cloud Nation, was a caller at The Indepen dent office Saturday and informed us that the county clerk of Webster coun ty wilfully printed the ballots wrong, folowing the "instructions" of Peanut Marsh, the republican secretary of state. Mr. Hale wondered if, in the event a contest were brought, the vote of Webster county could be thrown out. We told him it was hardly prob able, because it is difficult to disfran chise a whole body of voters simply because a public officer wilfully vio lates his oath. Besides a republican legislature or a republican congress would pass upon the matter, and noth ing could be hoped from them no mat ter how meritorious the claim. The fusionists of Webster county called on the county clerk and de manded that he print the ballots cor rectly, according to the internretatinn of the supreme court. He claimed that part of the ballots had already been printed and, after telephoning Peanut Marsn, wno advised him to Violate the aw, he went on and finished printing ;he illegal form, wherein ona nartv circle was made to do duty for the people's irdependent Darty and the democratic party. If the r-eODle of Webster rnuntv rarp to do so. ihey can bring impeachment proceedings against this law-violating repuitiican county clerk. They ought to do so. Had it simDlv been an er ror en his part, the case would be dif ferent; but he went into the matter with his eyes open, after due warning and there is no reason why he should not be thrown out of office. It would be an example to other county clerks who like to violate the law because some peanut politician tells them thev nusrht to "fight the devil with fire." Government by Injunction Readers of Nebraska papers during the past six months have doubtless no ticed the tax bureau bulletins, "issued under authority of the railroads of Ne braska," in which great stress was laid on tho fact that the railroads always pay their taxes, while many other taxpayers do not With a few IPoclanjationI JUST FOR A FLYER We will make some interesting offers in TALKING MACHINES It is however necessary that you write us at once and mention this paper as elsewhere our regular terms will be in ffect Largest stock in the west. New location J r9 J. South 11th Street About eighteen years ago the novel ist, F. Marion Crawford, gave to the world a story entitled "An American Politician," with about the usual amount of love and nonsense, but withal very interesting. It can hardly be called a novel with a purpose, yet the author shows a keen insight into the workings of government as well as the manipulations of practical politic ians, and does not hesitate to inter polate his own views as he tells the story. One passage especially ought to be interesting to The Independent's Boston readers: "A change has come over Boston in four months, since John Harrington and Josephine Thorn parted. . . . The migration of the 'tax-dodgers' took place on the last day of April; they will return on the second day of De cember, having spent just six months and one day in their country places, whereby they have shifted the paying of a largo proportion of their taxes to more economical regions. It is a very equitable arrangement, for it is only the rich man who can save money in this way, while his poorer neighbor, who has no country-seat to which he may escape, must pay to the uttermost farthing. The system stimulates the impecunious to become wealthy and helps the rich to become richer. It is therefore perfectly good and just" A good many officers and stockhold ers of Nebraska railroads live in Bos ton. That ought to account for the fact that the chief tax-dodgers in Ne braska are the railroads of Nebraska. There is onlv one democratic gov ernor in the United States outside of the solid south and he was born in Knoxville. Tenn. Dr. Garvin, governor elect of Rhode Island, is 61 years old, a gradur te of Amherst and of the Har vard medical school. He was a pri vate in the 51st Massachusetts volun teers during the civil war. He is more radical than most populists. Woman Suffrage Convention The twenty-second annual conven tion of the Nebraska Woman Suffrage association will be held in Tecumseh, December 2, 3, and 4. All state offi cers, and county and local presidents are ex-officio members of the conven tion. Each club is entitled to three delegates at large, and one delegate additional for every twenty-five mem bers. The hospitable homes of Tecumseh will be opened to the delegates who will be entertained for lodging and breakfast. The headquarters will be at Hotel Hopkin3, which has granted a special rate of . cents per meal. One of the most important features of the convention will be the drills in parliamentary law, conducted by Mrs. Lillian R. Harford, of Omaha. These drills will be given in a manner most practicable for club use, and delegates are urged to come prepared to take notes for their clubs. Three drills of one hour each will be given. - An innovation in a suffrage conven tion will be "Men's Evening," in which the entire program will be rendered by the sterner sex. A number of the most prominent men of the state will deliver addresses, and the music will be furnished by the inimitable double quartet of "Happy Husbands" of Ta ble Rock. Work conferences on "The Building of Suurage Clubs," and "Work Before Large Assemblies" will be conducted by the state officers. Among the well-known women of the state who will deliver addresses are Mrs. Anna R. Apperson of Tecum seh, Mrs. Alice Isabel Brayton, Geneva, Mrs. M. A. Squires, Kearney, Mrs. An na Kovanda, Table Rock, Miss Laura A. Gregg, Omaha. The association has made marked in crease in its membership this year, ahd each club is urged to send its com plete delegation. . CLARA A. YOUNG, President. IDA L. DENNEY, Secretary. 5cot Free Lewis Fink of Wymore called on The Independent and rather started the as sociate editor by saying that he had been following The Independent's ar ticles on the question of taxation with much interest, but that The Indepen dent was in error about one thing. "I claim," said Mr. Fink, "that the rail roads of Nebraska do not pay one cent of taxes." "Oh," said the associate editor, "I think I catch your drift; on the same basis neither do you pay any. You doubtless mean that railroad taxes are paid out of earnings and that the earnings are taken out of the pock ets of the people who pay freight." "No. I didn't mean that at all." re plied Mr. Fink. "Did you ever figure up how much has been given to the railroads of this state in the way of land grants and bonds? Well, I claim that if you had accurate figures of ev ery cent that has been donated to the companies you would find that it far exceeds every dollar of taxes they ever paid in this state." The associate edi tor admitted that, viewed in that light, Mr. Fink was doubtless correct. It would be a big task to ascertain the facts in the case, but if The Indepen dent could rely on one man in each county to assist, it would undertake this winter to compile the account and see. A New Name J. B. LaChappelle of the Saunders County Journal says: Were we to offer some terse but well meant advice which, being one of the mourners, is allowable we would say to the dissevered remnants of the democratic and populist parties: 'Get together, boys, get together; cut out the words "democrat" and "pop ulist" and go in under a new name, a new alignment, incorporating in your platform only such planks on which you can both squarely stand.' Then go in and win." The new name idea is often sug gested, but it is easier to talk about than to do. A new political party is not built in a day, or in a year, unless some mighty sentiment prevails. It is useless to ask the democratic party to drop Its name and take another, and the present outlook is that the people's party should maintain its organization until 1904 even if it is somewhat shat tered right now. Hill has demon strated his power in New York by cutting down the big republican ma jority there to almost nothing. He will probably be the democratic nomi nee for president in 1904 and there will be "pomethin' doin' " in which the populists can take a hand. Stanton is an oasis in the desert of republicanism. In spite of a light vote (450 short) we make a fine gain over last year and held our own with the majority of 1900 on the state ticket. Stanton county reformers are true blue. Alfred Pont, in Stanton Register. WHEN OTHERS FAIL CONSULT SEARLES & SEARLES Main Office Lincoln, Neb. SPECIALISTS IN Ntrroai, Chronlo and Private Diseases, WEAK MEN All prlrate diseases nd dis orders of men. Treatment by mail ; consultation free. Syphilis eared for life. Ail forms of female Trei- ness and Diseases of W" men. Electricity Medicine. KnahlM na to cnirantfte to care all cases curable of the tioat, threat, chest, stomach, Jiyer, blood, skin and kidney diseases. Lest Manhood, Night Emissions, Hydrocele, Varicocele, - Gonorrhea, Gieet, Piles. 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BUILT updn sound principles, eco nomically conducted, conservative in all things, its growth has been phe nomenal. No other company in Amer ica of its age has a larger proportion of assets to liabilities and no other company has had a smaller death rate. THE SECURITIES of the Bankers Reserve are deposited with the state auditor. Every honest death claim is promptly paid. Every business ob ligation is met when due. THE OFFICERS of the Bankers Re serve are well known business men of experience, integrity and energy. THE POLICIES of the company are thoroughly up to date, liberal, scien t'fic, clear, complete and reliable. None better in the world. THE BUSINESS AT RISK is the best which experience, conservative management and careful investigation make possible. Any so-called "old line" company would gladly reinsure it at our terms without medical re examination. THE AGENTS of this company are writing the business under the direc tion of the management, with the aid of the advisory board and are selecting the best men in Nebraska. THE ADVISORY BOARD, composed of 400, is made up from the best class of our citizens and it is a part of their contract to assist the company In expanding its business and protect the company from imposters. B. H. ROBISON, President, Omaha, Nebraska, is in need of more agents to push the good work forward. Ex cellent territory is open for good men at remunerative compensation. Ad dress BANKERS RESERVE LIFE. A. M. Herman, Newtonia, Mo., sends in a list of 8 educational subscriptions to help "spread the light."