MARCH 5, 1903.
THE NEBRASKA INDEPENDENT.
13
' To make cows pay, use Sharping Cream Separators
Boo"fcmlne Dairylm" Cat-270 free W.Cuester.'
Hembtfi of Legislature- Will rind
The Hotel Walton
1A16 O 8TBEKT.
the best and most convenient low priced
house in the c ty. Rates $i per day and up.
ONE GOOD SALESMAN,
. Teacher Preferred.
in each county in Nebraska, to sell Band. Me
Nally Universal Atlas of the World. Best me
dium priced library, school and family Atlas
made, 160 pages of maps, printed in colors, show
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Complete geographical description of every
county and state. History and Ueorraphy com
bined, 464 pages HxU. Price only $6.00. Exclu
sive territory. We allow publisher's commis
sions to solicitors. Experience unnecessary.
We teach you. Men earning $125X0 per month.
Our name guarantees the best gooda and hon
orable dealings. Write today for full particu
lars HAND, McNALLY CO., Chicago, fll.
Dr. Mitchell's Lumpy Jaw Cure
Dr. Mitchell's Lumpy Jaw Cure is
guaranteed to cure or money refunded.
One application is enough. One bottle
is sufficient for 4 head or more. You
can buy it at your druggists or he
can get it from his jobber. If he won't,
write us direct and we will send you a
bottle-for $1.25 delivered.. Marshall
Oil Company, sole sale agents for the
United States, Marshalltown, la.
FARM LANDS
in the-McoFe
Mountain Dist.,
CANADA.
I
200,000 ACRES of the
choicest virgin lands for
sale at from
$8 to $12 per Acre
Fertile Valleys, Open
Plains, Luxuriant Grasses,
. Pure Spiing Water.
f It should interest every farmer in Nebraska
to know that he can self out his high-prfced
lands and move to the fertile valleys of East
ern Assiniboja and buy land at frcm $8 oo to
$i2.oo per acre, with an expenditure of very
1 ttle cash. It must certainly be of interest
also to know thst the taxes on improved farms
in this famous district are frcm $2.50 to $5 00
on the quarter section. Hundreds have come
into tnis d strict from Minnesota, Iowa and
Nebratka at my instigation and have found
a district just as fertile, and the winters just
as pleasant, as in the Western States, and
prosperity more generally prevailing. Poor
men who came to this district two years ago
and purchased land at $8.00 per acre are now
prosperous and contented. In 1901 Areola
shipped 500,000 bushels of wheat, being an
average of 29 bushels per acre, and in the
season just psffsed 900 000 bushels' of wheat
being an average of 33 bushels per acre, be
sides 200,000 bushels of flax. Write to your
friends in this district, or send tome for my
map and pamphlet showing the lards I still
have for sale at the above prices. You cannot
help but be impressed by the prospects. It
is worth figuring out.
A.B.COOK, Areola, Asslnlbola, Canada.
FARMERS, COME TO MONTANA.
KICH lands, good markets, fine climate. Buy
a farm before they advance in price. They
will double in value in the next a years. lean
sell you the best improved farms here now for
$10 per acre, write me tor particulars. Address,
J. M. GAUNT, Real Eat.
Great Falls, Cascade Co., Moat.
ZEPi
Cancers GbTCd:
why suffer
'! D&in and death
from cancer? Dr?- T. O'Connor
cures cancers, tumors and wens;
no knife, blood or plaster. Address
1306 O St., Lincoln, Nebraska.
WANTKD-SIYEtf AL PERSONS OF C3AH
aeter and good reputation in each state (one in
this county required) to represent and advertise
old established wealthy business house of solid
nnanciai standing. Salary $21.00 weekly with
expenses additional, all navable in eaih direct
each Wednesday from head offices. Horse and
carriage furnished when necessary. References.
Xnclose self-addressed envelope. Colonial Co.,
9c jjearnorn cm., unicago.
8. B. Hams, Attorney
the District Court in and for Lancaster
county, Nebraska. Luther Batten, Plain-
wjt. vs. jonn lonng, Mrs. jonn xonng, nis
wife, first name unknown, J!. K. Yeung, first
name unknown. Mrs. . E. Yonag, first name
unknown, E. R. Raybura first name un
known, and Mrs. E. H. Kay burn, first name
unknown, attendants.
Thedefendania John Young, Mrs. John Young
bis wue, nrsc name unknown, J. K. loung,
first name unknown, Mrs. E. K. Young, his wie,
first name unknown. JL R. Ravbnrn first nam
wn known and Mrs. . R. Rayburn bis wife
nrst name unknown, nan-residents and defen-
aiants in said eaase will each takn notice that the
lalnttff, Luther Batten on February llth 1903
I J L 1 . . .... ...
iea nig amenaaa rxiiuon against aii damn-
dants and each and all of them in the District
court of Lancaster county, Nebraska the object
end prayer of said petition being to have title
to the real estate described as north (N tt) of
oathwest quarter (8. W. M) of section (fi) town
ship eleven (11) range eight (8) Lancaster
county Nebraska.qnieted in said Luther Batten,
to have the cload cast on pllaatiffs title by the
ciaiins of said defendants and each and all of
them removed and to have them each and all
forever barred from asserting any claim against
eaid lands and to have the record title of said
John Yotmg cancelled as against said plaintiff.
You are required to answer said petition oa
r before Monday the 22d day of March, 1903.
LUTHER BATTJ5N,
Plaints.
Wm. T. Johnson, Hinton, Okla. : No
matter -what the political issues, nev
er will I give my vote or support to
Cleveland or Hill or any other man
tarred with the same dirty stick. I am
& life-long democrat.'
THE FOWLER BILL
Congressman gnallenberger Explains t
" the House His Opposition to Asset
Currency
Washington, D. C., Feb. 25, 1903.
(Special Correspondence.) While the
house was considering the Fowler bill
today Representative Shallenberger of
Nebraska made a speech in opposition,
conceded to be the strongest yet made
on the democratic side of the case, - It
will be remembered he addressed the
house in opposition to this bill in the
first session of this congress. He said
today in part:
"Although we are , constantly as
sured that the money question is set
tled, or is dead, yet it seems to have
an annual resurrection in the con
gress of the United States. I have
observed in my brief experience that
people are generally very much inter
ested In something which they haven't
got In the hard times folowing the
panic of 1893, when everyone was 'hard
up,' the money question had a univer
sal interest, and I think that I have
observed in the last few years that
the American people take but little
interest in the fate of the liberties and
rights of other people so long as they
feel secure in the possession of their
own.
'T have sometimes wondered if it
was because of this seeming universal
interest in things which we have not
rather than in those which we pos
sess that causes the congressman to
take such? a perennial interest in the
money question. And it is because of
this same trait in human nature that
now, when certain parties having about
exhausted their own and the coun
try's credit by watering and inflating
values in stocks and bonds, having
thereby in six years added $5,000,
000,000 to the amount of debt that
labor must finally pay, these same peo
ple have suddenly become interested
in the great question of credit and of
credit currency, to be based largely
upon these same billions of promoted
assets which they have largely unload-,
ed upon the. banks of the country.
Having become somewhat embarrassed
by their enormous obligations to the
banks and the public during this riot
and orgie of promoted prosperity, they
now propose to make possible a fur
ther mortgaging ,of the future and
putting off the inevitable day of set
tlement by changing the character of
these obligations into promises to pay,
which, by the fiat of law, shall have
the power and effect of money.
"The. remedy which they offer is
entirely an experimental one. They
do not know by experience what the
result will be, but they would like to
ftry it upon us, anyway. But experi
ments in the realm of credit and fi
nance are always dangerous. The gen
eral business interests of the country
are doing very well just now.
"There is no demand for this legis
lation from the farmers, the miners,
the merchants or the manufacturers,
who produce the wealth, sustain the
prosperity of the country and pay its
debts. People who live in the east
are asking for this legislation and
professing to do so in the interests of
those who live in the west, although
no western interest is demanding it.
On the contrary both their banks and
their business men have protested
against it, and in the state in which
I live, a western state, more depen
dent absolutely upon agriculture for
the. prosperity of its people than any
other state in the unicn, the congres
sional candidates of the republican
party were kept busy upon the stump
and off of it during the last campaign
denying and protesting and insisting
that there would be no effort nor at
tempt to pass it at this session of con
gress and that it was not the policy
of the republican party. And it is
because of the danger of popular in
dignation and condemnation that you
do not dare at this particular junc
ture to put into legislation the entire
plan which you finally propose to
pass.
"We were told by these same finan
cial experts in 1896 that we would
lose our credit and could not borrow
any more eastern capital if we dared
to declare for bimetallism because of
the fear that we might pay our debts
in depreciated dollars, but the unan
swerable logic of events has proved
that what the west needed was not
the ability to borrow more money, but
rather a price for our products that
would enable us to pay what we had
already borrowed.
"We were told at the same time that
we "Would be punished by the east re
fusing to send us any more money,
out Dy tne irony of fate, we have in
four years out of the six following
that election been given a cron that
has enabled us to send our products
down to New York and swept the en
tire surplus reserve out to the farmers I
beyond the Mississippi river and put J
the great clearing house institutions of
that city into that condition that they
could not loan a man in business a
dollar except in violation of their
charters. '
"Mr. Chairman, I am opposed to
private" monopoly as corrupting in its
tendencies and therefore dangerous
and, inimitable to free institutions.
Hence, I am opposed to surrendering
to private corporations the illimitable
power and profit of issuing and con
trolling the volume of currency neces
sary to carry on the business of com
merce of this, the richest and most
powerful republic on the face of the
earth. I don't believe it represents the
best judgment of the committee who
have the bill in charge. Instead of be
ing what the majority of the com
mittee wants it is what they think
they may possibly pass. This bill is
open to the serious charge that it is
purely an inflation measure. It does
not retire any money now in circula
tion, but opens the door to practically
unlimited inflation if the note issues
shall be found sufficiently profitable.
It does not limit the number of banks
of issue, as every other mticn does
that has such a system and it is just
as possible to have an over-Tssue of
notes by permitting an unlimited num
ber of note-issuing banks as by per
mitting a limited number o banks an
unreasonable or unlimitei right of is
sue. It has been the result In every
country depending upon note issues for
its currency if the brinks of issue was
not in some way l'mit d I" times of
business booming and speculation, in
flation and over-issue haa'taea ;.uce
with consequent disaster and disturb
ance of business.
"Having found out by repeated ex
periences the inflation that always
follows an unlimited number of banks
of issue England in 1845 by an act of
parliament prohibited, the establish
ment of any other banks of issue than
those already existing in England,
Ireland and Scotland and further pro
vided that should any of those then
existing go into liquidation their mo
nopoly of note-issuing should be ab
sorbed by the Bank of England. .Ger
many has been rapidly concentrating
and reducing the number of her banks
of issue, prohibiting any new ones
and has finally reduced the number to
about fifteen. France has only one
such bank, Austria one, Russia one,
Spain one, Belgium one, and Italy
three, and Canada, whose system is
sometimes invoked in support of the
principle embodied in this bill, has
found a way to limit the number of
banks of issue as securely by statute,
although in an indirect manner, as
though the actual number was pre
scribed by law. At the time of her
passage of the banking act there were
thirty-six banks in operation and in
stead of attempting to fix the number
at given figures they made the neces
sary monopoly principle secure and
limited the number of banks possible
to the large money centers of the do
minion by requiring that no bank of
issue should be permitted to be es
tablished with les3 than $500,000 cap
ital. "The second point upon which I con
sider this bill is objectionable under
our present financial system and re
serve requirement is that it declares
that the notes to be issued under It
shall be made specifically payable in
gold. In the first place, we have al
ready numerous kinds of money, and
I certainly object to having another
added to them. The present bank
notes issued by national banks are re
deemable in lawful money only, and
that is the only requirement that ought
to be asked of the banks, because they
must accept under the law several
other forms of money other than gold
on deposit and in payment of their
debts, and it is not sound business
policy to require them to pay their
obligations in any other kind of mon
ey than those they can lawfully ex
act for obligations due to them. Un
der this bill it is perfectly possible
and probable that millions of money
would be issued without any reference
to the amount of gold in the banks and
available for their redemption.
"The fact that the government guar
antees the redemption of these notes
will not make their redemption by the
banks any easier, it only raises the
hope that the demand will never be
made. Before a system of gold note
issues is entered upon by any nation
the money of that country must con
sist of gold as the only money of final
redemption, with silver as a subsidiary
or token coin and not a legal tender,
and the currency of the country to be
issued by banking corporations. Ev
ery nation that does not have that
kind of a currency only requires that
the banks shall pay their notes in the
lawful money of the country, as does
France and Canada. France, retain
ing her reserves in silver and gold
and Canada in specie and Dominion
notes',, corresponding to our treasury
notes, so that the banks of those coun
tries, when gold is demanded of them
for export or for hoarding, have a
means whereby to protect themselves
and compel those who want the gold
to pay the proper premium for it upon
the open market. ,'
"The third' point upon which I wish
to challenge the correctness and jus
tice of the trinciple injected into, this
bil! is tnat stter we have surrendered
to the corporations the profit and pow
er to be derived from issuing money
made a legal tender to all the banks
and to all the myriad necessities of
the government, we yet propose here
in this bill to have the United States
guarantee the . final redemption of
these notes in gold if for any reason
the banks shall fail to make them
fcuou. ai lb true lual in return lor tiu
guaranteeing their notes, the banks
gave -the government a first lien upon
their assets, but the trouble with this
is that while it is sauce for the note
holder it is decidedly cold victuals for
the depositor, who frequently even now
receives little enough from the failed
bank. . Under such- a system as this
it is quite evident that the depositor
would fare worse than he does now In
case of failure, because the govern
ment is bound to realize upon, the as
sets in order to reimburse the guar
antee fund In case of failure.
"No other nation that surrenders to
private corporation the' profit to be
derived from note issues guarantees
the note holder against loss or dis
count In case of failure. None of them
go any further than to supervise by
just and equitable law3 so that the
creditors of the Institution shall re
ceive the full value of its assets. We
bad our day of unguaranteed note Is
sues under the regime of the old state
banks, and the people want no more
of it ...
"The gentlemen have always ques
tioned the soundness of the silver dol
lar, and yet they have not dared to
offer their bank money without basing
it at last unon t.h sama hrnnrl fnnnrla
tion that supports the much-despised
6ilver dollar. Every one of them is
good because every one of them is an
American dollar, and everything that'
lar.
"In conclusion, Mr. Chairman, this
bill is largely experimental and in its
recognized principles it follows the line
of absolute monopoly which underlies
mm esuppuns every empire in tne -
world today. It is the very apothesis
of special privilege. By the granting
of governmental favors we have placed
monopoly in control of the transporta
tion of the country, by the same prin
ciple of special nrivileees mononnltr
nas aosorced the industrial interests
of the country, and those who would
uuw eiitnrone monopoly nave Degun
A 1 . V 1 1. . . ,1 ...
mar. assault upon mat last citadel or
the people's liberty the people's mon
ey. It Is the last great source of
privilege and power yet remaining in
control of the national government, -and
it is the record of history that
when once a brave and free people
such as ours ever loses control of a.
great and priceless privilege such as
this, it has always been lost to them
forever."
Mr. Shallenberger was loudly ap
plauded on the democratic side of the
chamber at conclusion.
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