DECEMBER 18. 1902.
THE NEBRASKA INDEPENDENT.
3
BANKERS' PANICS
Major 8UfU Shows That Kvsrjr Finan
cial Crash Has Bn Caused by
tha Bankers
Editor independent: I find copied
in the Atlanta Constitution, from the
North American Review of December,
an article from the pen of the late
Thomas B.' Reed. What astonishes
me is that the Constitution should copy
without criticism an article so full of
fallacies, illogical conclusions and er
roneous assertions.
. ;For instance, Mr. Reed asserts that
"the triumph of protection has always
been followed by prosperity the de-
. feat by hard times." And then he pro
ceeds to show (in his mind) that the
hard times of 1893 (produced by oper
ation of the McKinley act, which was
protection run mad or gone to -seed)
was produced by the Wilson act, a law
that diet not' go into effect until late in
1894. '
I admit that the action of the bank
ers in calling in their cash and refus
ing to let out any more in the sum
mer of 1893 hastened the panic
though their object was to compel the
repeal of the purchasing clause of the
Sherman act of 1890. And right here
let me state an historical fact: We
never had a panic in th3 19th century
that was not caused by the bankers,
who influenced the action of the con
gress. i By their demand foreign coins of
both gold and silver were demonetized
in 1819 an act which congress was
by the force of public opinion forced
to repeal soon dfter. In 1837 a change
in the ratio from 13 to 1 to 1(5 to 1
. produced for ten years universal dis
tress. In 1846 the Mexican war broke
out; then the calling out and equipping
of 50 or 60 thousand troops, and their
. transportation caused the issue of a
large amount of circulating medium
and prosperity was helped on by the
discovery of gold in California in
1849, and- we had good times until
1857, when congress, again at the de
mands of the bankers, demonetized
all foreign coins. This reduced the
circulating medium nearly 300 million
dollars in that day there was a large
amount of foreign coins circulating.
This was followed by a fearful panic.
Soon after the war came on, atid then
came the act of 1873. This act again
was at the demands of bankers. And
then in 1893 they put in their oars
again.
- Now Mr. Reed would have us believe
that the Dingley act gave us prosper
ity, when in fact it had nothing ;o do
with it. Three causes led to the pros
perity alluded to. First, the world
was short on all that man and beast
subsisted upon. We -had the most
bountiful crops we ever had. We fed
the world. Our exports over our im
ports ran up into hundreds of millions
. of. dollars per annum. Second, the
Spanish war came on and we called
out 250 thousand troops. These all
had to be fed, clothed and transported.
This immense call Df troops was in
tended to produce prosperity. No doubt
our 25 thousand of standing army,
backed by the navy, could have run
the Spaniards out of Cuba in six
months. Gen. Winfield Scott took the
city of Mexico with less than ten
thousand men.
Third, as soon as the republicans got
into power they started the mints day
and night to coining fifty-cent dol'ars
and coined more silver than was ver
coined in the same time in the history
of the nation. They coined the seignor
age even that they bad helped Mr.
Cleveland veto. And the janitors had
hard work to keep them from coining
up the water pitchers aud other sil
verware about, the capital city. Nor
did they stop here they flooded the
country with "shinplaslers." They rail
them national bank nots; neverthe
less they are "shinplasters" all the
same. They put millions of them in
to circulation. They gave all who
could get up 25 thousand dollars a
premium of from 2 to 4 per cent per
annum if they would help them to
flood the country with a circulating
medium and let them go without pay
i g any taxes worth naming.
Now. Mr. Editor, bear in mind that
these same people stood aghast in
1896 at the thought of free coinage
of silver, which they said would flood
the countrywith fifty-cent dollars. By
the logic of their own argument, they
have flooded the country with 25-cent
dollars, for the largest amount of
money free coinage could have pi ven
us would have been 50 or CO millions
per annum while they have actual
ly turned loose 126 millions per an
num for the last five years, coining so
late as in the past October two and
one-fourth millions of silver dollar?
and in October of last year two and
three-fourths millions approximately.
No, Mr. Editor, these people are not
fools; they can see a dollar as far as
any people on the earth, or under the
earth, for that matter. They have
read history. They know that England
was never so prosperous as when
she was fighting all Europe under Na
poleon and they know that no people
can prosper without a plentiful sup
ply of circulating medium, even if it
is "shinplasters" or silver.
But Mr. Reed said the Dingley tar
iff did it all. Now, I have respect
enough for Mr. Reed's intelligence to
think that he was only trying to up
hold the protective tariff system, be
cause his section of the country haa
been able through the operation of a
protective tariff to plunder the con
suming masses of the country for a
hundred years and they hope to con
tinue it for another hundred. N6
wonder we are a nation of million
aires and paupers. Look at Carnegie
and Frick; then look at the men who
worked for them they are poorer to
day than when they began to labor for
them. Look at the coal barons and
then at the squalor in the hovels of
the men who delve in the mines. Yet
I never heard a demagogue attempting
'to defend the robber tariff system that
did not want to make up the differ
ence in wages in this country and the
pauper labor of Europe. And yet I be
lieve every man who uses this argu
ment is conscious that he is telling a
lie.
I need not follow Mr. Reed about
the trusts. What he says is the rot
that Mr. Roosevelt has tired the na
tion out with; yet neither of them
nor anyone else has told us which are
the bad trusts or which are the good
ones. '
But I will tell you they are all
bad; "none are good, no, not one."
A. H. STEAGALL.
De Land, Fla.
leaders expressed it, when reproached
because the church had taken so prom
inent a part in the late election In
contradiction of their tnost solemn
promises made when seeking state
hood, to abstain from meddling in
politics: 'We thought it best for the
church to keep in line with the ad
ministration.' It is said by anti
polygamous Mormons that 'one of the
evil effects of the Roberts fiasco and
the resulting republican agreement is
that polygamy has largely increased
among the higher church officials, and
that they have both advocated it and
practiced it more openly and uublush
ingly for the last three years than
before since the Edmunds-Tucket 'law
of 1887, feeling greater assurance of
protection under their agreement as
long as they can carry it out success
fully." The "grand old sarty" is in league
with polygamy in the United States
and protects slavery by treaty in the
Philippines. "The twin relics of bar
barism" which it was organized to
fight, it now gathers to its bosom
and still claims to be the party of
Abraham Lincoln.
VILEST THING ON RECORD
The Itargaln MHle Iy the Republican Nn-
tionnl Committee aid the I'racl'ce
of Polygamy
I - There was never a more vile and
disreputable thing done since govern
ments were first instituted among
men than the bargain that was made
by the republican national committee
with that portion of the Mormon au
thorities who favor polygamy and
most of whom still practice it. The
Independent informed its readers of
this vile bargain at the time it was
made, and gave them all the facts in
the case, including the visit of Payne
and his consultations with the Mor-
j mon leaders. One of the most promi
nent and best posted citizens of Utah
writes as follows about the results of
that bargain:
"The leaders of the Mormon church
in the state of Utah, at the time when
Brigham H. Roberts was denied his
seat in the lower house of congress for
polygamy, were profoundly stirred by
the fear of a constitutional anti
polygamy - amendment, by which of
fenders would come before the United
Stales courts instead of the state
courts. They had good cause to fear
! that such a condition of affairs would
put it in the power of the anti-poly-i
gamists to harry many oi the highest
i officials out of Utah and force them
j la flee to Mexico and Canada to es
i cape the penitentiary. The republican
leaders, both Mormon and Gentile,
hurried to Washington to avert such
a calamity. And it is generally under
stood here that an agreement was
reached between the heads of the
church and certain Jead3rs of the re
publican party in congress that as
long as the Mormons kept Utah re
publican such an amendment should be
smothered in committee with as little
stir as possible.
"As soon as the church leaders
could get the machinery in working
order they began to carry out the
agreement, and have faithfully car
ried it out both in the last presidential
election and in the late election. The
church cannot control the bulk of the
Mormon voters, hut it ran, and does,
control a few thousand, enough to
give them the balance of power. The
halt Lake ministerial association, now
that the horse is stolen, are makfng
strenuous efforts to lock the stable
door so as to keep Apostle Smoot out
of the senatorship. They claim to be
able to prove by legal evidence that
a majority of the twelve apostles and
the first presidency are living in
polygamy today, and that Smoot has
openly and persistently advocated it
"It is well known here that the
church leaders strained every nerve
and brought to bear every part of the
machinery of the most perfect and
strongest hierarchy known in the his
tory of religious organizations to car
ry the states of Utah, Idaho and
Wyoming at the November election for
the republican ticket.
"As one of tho prominent church
The eastern papers, since the death
of Thomas B. Reed, are tilled with
the witticisms of his congressional
career. Many of them were side
splitting even in print, but the full
force of them cannot be conveyed in
that way. They lack that peculiar
enunciation and slow Yankee drawl
for which Mr. Reed was famous.
There was one occasion, however,
when Mr. Reed's ready repartee failed
him. He was making a speech, in
which, as was the, habit of the repub
licans of that time, he said he made
no pretentions of knowledge upon the
financial question' :dnd was content to
leave it to those who "understood it.
j "I do not pretend to understand the
money question," said Mr. Reed, "and
I never knew any man who did except
a greenbacker or a pop." Quick as a
flash, Jerry Simpson cried out in a
piping voice: "That is one trine when
the gentleman from Maine told three
truths in one sentence." There was
a roar, of laughter. Mr. Reed turned
his gaze on the sockless statesman and
every one was on the qui vive for the
reply. But Mr. Reed made no reply.
Mr. Hopkins quotes an item from the
National Tribune to the effect that the
government expects to save about
$33,000 by abolishing the "letter car
riers' physician" except in the largest
cities. This is saving at the spigot
and wasting at the bung. If the gov
ernment would pay the railroads for
carrying the mails at the same rate
express companies get their goods
hauled, (over 36 cents per ton-mile)
every letter carried could be furnished
with a private physician and still the
government would have a surplus left.
But .after all, notwithstanding these
objectionable features, it is still a fact
that the people get their letters carried
at less expense to them than If the ex
press companies had a monopoly of the
business.
THE VALUE OF CHARCOAL
l ew People Know How Useful it Is In Preserv
ing Health and Beauty .
Nearly eterybody knows thtt charcoal it tha
safest and most elllcient disinfectant and puri
tier in nature, bnt few realize it Tslue when
taken into the human system for the flame
cleaustne purpose.
Charcoal is a remedy that the more you take
of it the better; it is not a drug at all, but simply
absorbs) the rases and impurities always pres
ent in the stomach and intestines and carries
them out of the system.
Charcoal sweetens the breath after smokfna.
drinking or after eating onions and other odor
ous Tegetables.
Charcoal effectually clears and improves the
complexion, it whitens the teeth and further
acts as a natural and eminently safe cathartic.
It absorbs the injurious iraies which collect
in the stomach and bowels; it disinfects the
mouth and throat from the poison of catarrh.
All druggists sell charcoal In one form or an
other, but probably the best charcoal aud the
most for the money is in Stuait's Abaorben
Lozenires; they aro composed of the finest pow
dered Willow charcoal, and other harmless an
tiseptics, in tablet form or rather in the form of
large, pleasant tasting lozenges, the charcoal
being mixed with honey. .
The daily use of these lozenges will Soon tell
in a much improved condition of the general
health, better complexion, sweeter breath and
purer blood, ami the beauty of.it is, that no pos
sible harm can result from their continued use,
but on the contrary, great benefit.
A Buffalo physician in speaking of the bene
fits of charcoal, says: "I advise Stuart's Ab
sorbent Lozenges to all patients suffering from
gas in stomach and bowels, and to clear 'the
complexion and purify the breath, mouth aud
throat; I also believe the liver is greatly bene
fitted by theiaily usfl of thsmjthey cost but
twenty-five cents a box at drug stores, and al
though in some sense a patent preparation, yet
1 believe I get more and better charcoal in
Stuart's Absorbent Lor.enees than in any of the
ordinary charcoal tablets.".
SWell
g :
Were
Pleased.
What a few of our customers say
those who have made purchases of us:
ARAPAHOE, Neb., Nov. 13, 1902.
Farmers' Grocery Co., Gentlemen:
Enclosed lind P. O. order for 5 dollars for which plea.se
eud combination order No. 64 as advertised. Last, order ar
rived hatisfhctory. Goods just as I expected. Very truly
yours, ADD1E JONES.
ST. MICHAEL, Neb.
Farmers' Grocery Co., Dear Sirs:
Goods you f-ent me arrived this A. M. I think them very
good value and just as advertised. Yours truly,
JAMES WEBBER.
HOT SPRINGS, So. Dak.
Farmers Grocery Co:
Combination order received. Everything pleases us.
Send enclosed order to JOSEPH PETTY,
Hot Springs, So. Dak.
We could publish a list of letters from customers that would till
this entire page if necessary. The almve testimonials are just a few
taken r.t random from our correspondence.
This Offer Good only Until Christmas.
HOLIDAY COMBINATION.
40 pounds best fine granulated sugar .$1 .00
20 lbs good rice 1 . 00
1 keg choice syrup 1.00
2 lbs. choicest uncolored tea. 1 .00
2 lb?, best baking powder 50
-. pkgs. best soda 25
1 lb. purest pepper 25
All of the above for $5.00
We deliver the a bore order gecurely packed to any R. R. station
in Nebraska, Colorado or Wyoming upon receipt of $5.00 in draft,
express or money order. Freight paid by us. Every article war
ranted good or your money back. Reference Columbia Nat'l Bank
FARMERS GROCERY COMPANY.
226-228 -230-232 234 -23G No. 10th St., Lincoln, Neb.
tot -a- -vr mr "r 4r 4r "a
