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.
