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About The independent. (Lincoln, Neb.) 1902-1907 | View Entire Issue (Dec. 25, 1902)
DECEMBER 2S, 1302. THE NEBRASKA INDEPENDENT. 13 A Question of Prices Editor Independent: I have been an Interested reader of the articles contri buted by Mr. De Hart and Mr. Van Vorhis. After all that has been writ ten by those gentlemen no "standard, measure, or unit of value" has been agreed upon, and the money question so far as the standard, measure, or unit of value is concerned, is. -still rather obscure. The best definition of value I have seen was from the pen of the editor. As near as I can remem ber it was substantially: "Value is a human idea or desire expressed in terms of money." I think this should read, Value is a human idea or desire expressed in terms of money, the amount in dollars and cents being de termined by the amount of cash on hand, the average daily income and the other luxuries, commodities, or neces sities, needed or desired in a person's daily existence. For example, a per son receiving a large salary would pay four dollars a pair for working shoes while a-person receiving a small sal ary would hesitate to pay as much as two dollars for every-day shoes. In each case the commodity desired would be a covering for the feet to be used every day; the mental calculation would in each case involve the condi tions named in the foregoing definition. In a recent issue of a local paper ap peared an Item stating that several railroads who had advanced the sal aries of their employes would advance rates and the public would pay the advance in salaries beside paying an increased profit to the owners. In The Independent of November 20 the editor (discussing President Eliot's declara tion that "the scab is the modern hero") says in part that "capitalists would pay workmen no more than enough to subsist upon and propagate his species." Now, I have no doubt that labor un ions are all right and have been of great benefit to certain classes of la bor. But I am unable to see any real benefit to the laborer in general, by an advance in wages followed by a greater advance m prices, this tort of thing could go on indefinitely without ben efiting any one. The class of labor that received the highest daily in come would be the only ones living comfortably and if some other trade should get an increase in wages so that they were the highest salaried clacs of labor, the labor that had previously been the first class would then be sec ond classi I am beginning to think the only way the wage workers can ever hope for better things is through the national, state, or municipal own ership of more manufacturing, trans portation, and business enterprises than the majority of people now have any thought of. GEO. B. BOLT. St. Louis, Mo. (Mr. Bolt's memory failed him in part Value, as we use the term in a business way, is power in exchange, or human estimation placed upon de sirable things capable of exchange the supply of which is limited. Or, a? Mr. Del Mar says, it is a numerical rela tion. In other words, one must uso numbers in making any estimate of value. For example, he might say: "My horse (one) is worth two cows." Now, "price" is the same as "value," except that the numerical relation is stated in money terms. Our money terms are cent, dime, dollar, etc. One can state the value of anything with out using money names at all; as, for example, he might say that the value of a bushel of wheat is equal to that of two bushels of corn. It is not nec essary that 'the wheat be capable of sustaining life as long as twice the amount of corn, but the values will depend upon the supply of each and human desire to procure them. 'Trice" is a sort of arbitrary sort of value and. used in this sense, always implies that the estimation is made by comparing some commodity with money. The price of a thing might steadily in crease, yet its value could fall as com pared to everything except money But in such a case the value of money itself would have to fall. To illustrate: Suppose ten veats ao that a bushel of wheat would exchange for four bushels of corn, three of rve, or two of barley; and that its money value ("price") was 72 cents. Now, it would be possible for wheat to be selling today for 9(5 cents a bushel and yet not be as valuable when compared with corn, rye, and barley; it might exchange for onlv three bushels" of corn, two of rye, or one of barlev. The money terms aid us in making exchanges, but tend to obscure the real situation at times. The prices ten years ago would be as follows: Wheat 72 rents Corn 18 cents Rve , 24 rf-i.ts Barley .' 36 cents And the prices today would be: Wheat cents Corn 32 cents Bye ;48 cents Barley 96 cents It is easy enough to see that wheat has risen in "price" 33 1-3 per cent: but it has actually fallen in "value ' so that It takes 22 bushels of wheat to exchange for the same amount of corn, rye, and barley that 13 bushel3 would secure before. In ordinary language we would say that the price of corn had risen 77 per cent; rye, 100; and barley, ltti. It is evident also that the value of money has fallen, because it takes $2.72 to buy the same amount of the four grains that $ 1.50 would be fore. Ed. Ind.) Where the Pinch Comes An Associated press dispatch from Pittsburg to the New York World, un der date of December 18, says: "It is believed here that the United Steel corporation will ultimately ae quire control of the Jones & Laughlin and Cambridge Steel company inter ests. "What impels these corporations to entertain merger propositions is that the control of the railroads by the Morgan interests places even the largest independent plants in a disad' vantageous position regarding the re ceipt of raw materials and the distri bution of the finished product. No i- formation could be obtained as to a possible combination from the officials of either of the companies." Yes. the tariff is the mother of trusts not the Dingley tariff. Low ever, so much as that imposed by di rection of Morgan, Harriman.et al. Under Whose Banner? The Appeal to Reason, with the us ual vigor which marks anything Mr Wayland undertakes, is preparing to get out in the near future a gigantic, half-a-million copies, "populist edi tion," intended to gather the whole populist brood under the socialist hen. General Wayland's orders to his army are: "Gather up the scattered forces of populism and reform them into our ranks T here they belong and thus un ite the western and southern farmer with the eastern wage slave for the great struggle before us." It ought not to matter to the pop ulist who asks that congress rcsvirne its constitutional powers, whether this comes through the people's party, the socialist, or some other. But The Independent doubts whether many populists are ready to accept social ism as a whole. Few of them really believe in the "collective ownership of all the means of production and distribution." But they do believe that congress should exercise all the powers enumerated in section 8 of article I. of the federal constitution without in any mrnner delegating these powers. It does not matter what may be the name of the party that finally elects a congress and president who will, for example, bring about congressional exercise of the 7th enumerated power; "To establish postoffices and post roads" any populist can give hearty support to that party. Because that will mean public ownership and oper ation of the railroads, telegraphs and telephones. Populists have not reached the stage of demanding the death of capitalist production, which. even it desirable (which we douDt) must come by degrees or cause untold misery. But we need not quarrel over the ultimate object in view. Both socialist and populist want government railroads and what does it matter if the socialist sees in that the fore runner of collective ownership of all the means of production and distribu tion, while the populist sees a grander opportunity for the individual to en joy "equal rifM.s to all, special priv ies to none?" Here's success to your populist edi tion, Mr. Wayland. May it do a world of good. If you can unite the warring factions in your party and we fail to do so soon you will get a big share of the populist vote. But if we quit fisfhting among ourselves and it be gins to look as if we may the "scat tered forces of popnlirm" will b re formed in line of battle under our own banner. REM r Pi! 50 Lbs. Best Granulated Swot for $1.00. Read! a a f4 Upon receipt of 10 dollars in draft, express or money order we will ship the following bill of staple groceries to any station in the north west We pay all the freight Every arttel warranted. 0& tAA Deliver ed Free to Your Station Special Combination No. 84 E. 6a 1d3. best fine granulated sugar. $1 00 8 lbs. Lion or Arbuckle's Coffee. 1 00 25 bars laundry soap 1 00 3 lbs. best tea 1 60 1 lb. pure pepper 25 2 lbs. best baking powder 60 5 pkgs. best yeast cakes 25 3 pkgs. best soda 25 3 cans lye .' 25 2 lbs. fancy evaporated peaches. 25 6 lbs. best raisins 50 lb. best ginger 25 C lbs. best rice 60" 6 It 3. California prunes 50 2 lbs. choice mixed candy 25 8 lbs. rolled oats 25 3 cans oysters 25 1 largest box matches 25 2 bottles lemon extract 20 2 bottles Vanilla extract 20 1 box starch 10 3 pkgs. stove polish. 25 3 10c cakes tar soap.... 25 $10 00 All the above packed securely and delivered free to your railroad station for $10. Every article warranted to please you. 1 Freight Paid by Us We are the largest distributors of groceries in a rptail way in the west. Have thousand of customers who send us their money and order our goods. Years of honest dealjng has established for us a reputation all over the northwest among consumers. We sell more groceries in Lincoln than any other 3 stores. Give us a trial rder. Reference, Columbia National Bank, S GROCERY COMPANY, 226228-230-232-23-1-236 238-1240 No. 10th St, Lincoln, Neb. : FARMER Wm "Irresponsible Radicals" Solomon was wise in his day and generation, but wore he living now his revised ersion of Proverbs would say "Wall street hath two daughters crying: Give, give." Wall street is in bad plight, says Louis F. Post in The Public. Its af fairs are on the brink of collapse, and the United States treasury refuses it further help. This refusal is encour aging, but the reason calls for special wonder. Further help is withheld not for the good reason that the govern ment has no' business to dabble in Wail street speculations, but foi the bad ope that the previous aid extended has not lessened the demand for more aid, and that there seems to be no end. "The best posted men in the treas- ury, writes "Kaymona 10 me Chi cago Tribune (republican) for which he is the Washington special corre- ondent, "say the government has simply been pouring money into a rat hole, and there is not the slightest prospect of being able to supply funds enough to meet the extraordinary de mands of Wall street any longer. Ev ery dollar which could spared from the United States treasury has been loaned to .the banks without interest, and in a few cases without any too good security. In addition to this the ordinary interest paments have been anticipated for a long time to come. The secretary of the treasury has gone to the danger line in the matter of purchasing bonds, and has submitted to rank extortion and paid extraordi nary premiums merely that the gov ernment should do every! hing in 'ts power to prevent a threatened panic. Every bond bought takes away from the banks just so much basis for cir culation, so there is no benefit to be derived from any bond purchases. In pile of this condition of affairs the appeals from Wall street have become more and more urgent," etc. What right, continues The Public, had the administration to pour, pubr lie money into a Wall street rat hole? What right had it to lend the banks without interest public money on which it is paying interest?- What right had it to risk public funds "without any too good security?" What right had, the secretary of the treasury to "go to the danger line," and submit to "rank extortion," and to pay "extraordinary premiums ' for government bonds before they were due, all to prevent a "threatened pan ic" H the nest of Wall street gam blers? Does anybody know? None. No right whatever. Mr. Post It was simply a specimen of republi can anarchy yet you will be called an anarchist for asking the questions, and The Independent another for quot ing them. The Lincoln Daily Star J. C. Mc Neruey, Attorney at Law NOTICE. C. F. Blank, Tea aud Coffee Company, a cor poration organized under the law of the tato of Missouri, aud CLarles Hpies and Vi. tor M. tieiter co-partners as Charles Spina & Co., will tiikenotic that on the th day of November, 11)02, Fritz WVsterman a justice of the peace in and fur the chy of Lincoln precinct, Lancaster County, Nebranka, issued an order of attach ment for the sum of i 1)4.10 in an action pending before him. wherein Frank D Eager is plaintitf antfC. F. Blanke, Tea and C f'er Company, a corporation organised under the laws of the btateof Minsouri, and Charles Spiesand Victor M. he;ter co-partners at Charles pies Co., are defendants, property consisting of money and credits due and to become due said defeudaota has been attached under xai I order in the hands of 1 hi following persons aud in the following amounts, viz: Uorge M. Heach $14 1.3 Kdward L. McLaughlin t 77 Amos S. Kayer 22 63 John S. Bowers 7 51J Said action was by said inntirn rnntinnari the 10th day of January, mm atl) o'clock a. ni. at which time aid defendants are required to appear. FRANK D. EAQKR, Plaintiff, ixV I j Attrrrpy. will hold up its hands do stars have hands?) in holy horror. It will see In this 'a catering to the lower classes." It will pronounce your inquiry the work of "an irresponsible radical with revolutionary tendencies." Yet it can not give one honest answer to your questions. It dare not J. P. Bridger, Mt. Airy, Ga.: I thought you would le kind enough to tell me the name of a better paper than the New York World, if there be such. (Try the World-ITerald, Omaha, Neb., or the Rocky Mountain News. Denver, Colo. id. Ind.) How is the New York Son? (Republican. E.1. fnd.) I want a tri-weekly if I can fnd it, and one not for Hill and Cl-ve'and. I can't bear those men r.nl w'sh I might never see or har thdr name'. Please keep on roasting and fxposig the reorgan izes. T see some of the southern pa pers are for Clevland. It 13 a shame and hallucination. Few of them escape the blighting ef fects of republicanism. Colfax went fusion this year, but she is gouged $743.02 in the school apportionment. The smallest December apportionment ever made by the fusionists was $3, 507.58; but this year the republican distribution is only $2,704.50. Th fiddler must be paid.