CECEMBER 3, 1903.
THE NEBRASKA INDEPENDENT
15
THE VALUE OF UOKEY
Dr. Clark Joins Mr. Fataa In Declaring
That Cuotrii Can KegulaU la Val
' me of Money by Regulating In
' serest Charges '',-"'
.Dr. J. W. Clark, one of the "Old
Guard of Populism" in Indiana, writes
The Independent a letter commending
Mr. Paton's sFixing-the Value of
Money" (page 6, Nov. o) ,; enclosing -a
copy of the Missouri VYorid of Sep
tember 16, 1S96, containing an article
on similar lines.' The Independent is
idad to reprint Dr. Clark's article. It
would however, suggest that Dr.
Clark , confuses "utility" and "value "
ia his illustration. "Cheap'' money
cannot be "very valuable;" but it can
be very "useful" or of great "utility."
Water has great utility, but its "val
ue" depends upon a limitation of the
supply. As a matter of .fact, the over
flowing of the tank at the well did not
affect the utility or usefulness of" the
water in the street tank; but it did'
render all the water valueless, The
supply was greater than all wants;
there was a free supply of more than
all needed; no one would give any
thing in exchange for a gallon of wa
ter; hence, it was valueless. ' ' "
THE AUTOMATIC SYSTEM OF
.FINANCE.,?.:- ' ... ,
The way to settle the money ques
tion is to knock the devil out of the
dollar, and when that is . accomplished
it will not be so hard to knock him
out, and keep him out, of the hearts
of the . people. We will venture to
suggest . a plan, and the people can
have it for just what they think it is
worth. But we wish to state that be
fore adopting the financial: system we
are about to suggest that there should
be firsts some preparatory legislation,
such as a , land limitation law, or
graduated land tax; a graduated in
come tax, and government ownership
and control of lines, of communica
tion, and transportation..-, . ...
Then when that is done let us adopt
a medium of exchange that is in
Jieeping with an enlightened, civilized
and Christianized people, by the gov
ernment issuing a full legal tender
paper money and put it into circula
tion by paying off its obligations and
loaning it direct to the people on
real estate security, to an amount say
not to exceed : one-third or one-half
its actual cash value, and at a tax
not to exceed the average net gain of
labor, and let, that tax go to the gov
ernment instead of to banking cor
porations. Congress can regulate "the
volume and that carries : with ,it the
value because the value of a dollar
depends upon the. volume, that is In
actual circulation) by Just simply reg
ulating the tax the government
charges the borrower for the use of
money. ......
And in order that "we. may. be thor
oughly uudu stood, we will illustrate
the matter. Some years ago we ' saw
in a western viiiage a public water
tank s;taatcU in the . mam street - of
the town. 1'Lat tank was supplied
with water tiucugh an Iron pipe at
tached to;:Ui.cLher tank, situated at
ai.d fupplieu by a well of inexhaust
ible, water that was run by a wind
pump. The tank in the street had a
valve in the center of the bottom, and
to that valve was attached one end
of a cord; the other end was attached
to a block of wood which served as" a
buoy and lloated on the water in the
tantc. . The length of the cord was so
adjusted that when the tank got so
run tne buoy (block of wood) rose,
of course, and the cord became taut
and closed the valve in the bottom of
ine tank, and if the wind pump was
not stopped, the tank at the well ran
over Instead of the one in the street.
And as soon as the water in the tank
in the street began to be consumed,
me cord oeoame lax, the valve drooped
and In came the water, aud in' this
manner was made self-adjusting.
Now, then, we want congress to go
to work and establish a tank in ev
ery county reat In the United states
in the way of a government loan of-
uve, ana let these tanks be supplied
with full legal tender Dancr monev.
like tho postoffloca are with stamp.
anu ioi me people prolwt the people
by loaning to the people, on the term
aud conditions atatod altovc. "Well,"
as one, "what will prevent in un
due Inflation of the currency:" Our
answer t that If ronpresa will no ad.
Just the tax the government charge
the borrower for the ue of inon.y,
and keep th rtit of ta In harmony
with the average rum of the rwt gain
of later, they can Jut m effectually
control the volume, at the lengthen
log and bhortenlnjf the cord inflated
or on tract! tho volume of water In
th tank. And If at any time in th
Judgment of ctmrreits th volumo of
money w4 Um small, kt thtm lower
th Ui. or. in other words, lengthen
the rord; md If at any tlmo there ap
Iard to U a plethora of money,
ral th tat. or. in other word
shorten the cord; and an long m a r j
UU lau uui luff tuvuejr iiviu luc &vi-
ernment and-make a margin over and
above the tax the cord so to; speak,
1$ lax, the valve swings open and the
currency, keeps flowing from the gen
eral government-Into the channels of
trade. . .. : "..- r " ... , ...
When a person in any particular
line of business cannot make a margin
over and above the tax, then the cord,
so to speak,, has become taut,, and the
valve closes, or, in other words, he
returns the money and the mortgage
is cancelled. When A can no longer
invest his moneyin active productive
ness and make a profit equal to, or
above the average net gain of labor
(or national interest), it is fair to
presume that die will loan to B at the
same rate or a little less. ;
.. While this is the case it is fair to
presume also,- that but little if any
money will be borrowed f rem the
general government. Under this sys
Ltem no one can get a corner oa mon
ey any more than he can on postage
stamps. Money can be ' made very
cheap, yet - very valuable. The over
flowing of the. tank at the well did not
render the water in the tank in the
street any less or any more valuable.
As it , is , with the unused postage
stamp, so it would De with the un
used money In the government banks.
That which would be in circulation
would not be rendered any less valua
ble by there being a surplus.
We are sure that some one would
like to know what we would base this
money on. We are not going to have
any base, only this government and
the fullness thereof. We are not go
ing to base it, as at present, on John
Bull and his little lump 1 of gold.
"Well," says one, "how are' you go
ing to balance with foreign countries?"
We do not believe that under this sys
tem, with as glorious a country as we
have, there would be any balance
against us, ' but in the event there
should be, let us balance with com
modities, and let that be - beef, pork,
corn, wheat, cotton, silver Or gold;
but not with money, which would de
stroy the equilibrium of our circulat
ing medium.
We have been asked, "What would
become of your paper monev if we
should ever be subdued by some for
eign power?" Our answer is this: As
all could not have gold let us all fare
alike. Besides, it would prompt ev
ery one to be loyal to his country. But
the; way it is now, "give me gold and
the devil can take the country." We
nave at this time a great deal of ras
cality in this country, and it is likely
to continue as long as we keep a
premium on it, or, in other words, as
long as we , keep money more valua-
Die than that which it was designed
to nonestiy represent.
Under this system congress would
be coining money and regulating the
vaiue inereor, as the constitution re
quires them to do. Let congress do
the coining and regulate the value
(tax), and the volume will adiust it
self to the business requirements of
the country. ' But for congress to go
io won-: and just simDlv coin a dol
Li r with so many grains of gold or
snver m it, witnout any reference to
the number of dollars or units there
should be in actual circulation to
transact the business of the tountry
on a cash basis; and without deviling
t-ome pian, also, to prevent them from
Dein manipulated and monopolized
for the purpose of reaping exorbitant
rates of interest, does but little mnr
towards regulating the value of the
aouar than they do toward regulat
ing the wind or the weather.
vvnne it ia true that the value of
trie dollar depends upon the volume.
or number of dollars or units there
would be in circulation, yet it would
alfo be true that that volume would
depend upon the rate of tax the gov
ernment wonid charge the borrower
ror the use of money. So that in roe
lte the tax would be in reality reg-
nmwnK me vame ana at the same time
wonld How the volume at all times
to more accurately adiust itself tn
the rsinf?s requirements of tho conn-
irv nan to restrict It to a certiln
arront pt capita. And It U my
rrentet illr above nil thiriRs tem
rmrl. to live to see the dnr when nil
tble-bodM peon! will have to eat
hrp, n the pwent of their own fare,
or rot en at nil. no that tho who do
wor mv enjov the fruit of their
own laWir. J W. CLARK, M. D.
Washington, Ind.
Mvll
ii
o) rc
1 11 n I
Well, well l Cheer up! Get busy lams' peaches and cream are ripe.
They were sensational 'show horses," "live whirlwinds' at the Nebraska 8tafe
Fair. (He had a snap.) la ns had a whole barn full of prize winners there,
lams won first on four-year-old Percheronsr In class of thirty-two an easy vie
tory). Also championship sweepstakes Perch aron stall on ever all, and many
more prizes. In fact all the principal prizes in l erchetons, Belgians and
Coachers. Then lams kept his great s 1,000-pound sh jw ' pair and the best
stallion in every class out of the Nebraska show yard, lams' best horses were
at the Nebraska State Fair for exhibition and were not shown for prizes. None
of the special train of loo stallions received August 23, 19tKl were shown at Ne
braska State Fair, and among these he had the first and second prize four-year
old Percherons at largest French horse show at Chartres, and many Perchercn.
winners at leading ' horse-shows," as well as winner at leading "borse-ishowa" of,
BELdlUn and GERflANV. lams is justly entitled to the name
SWEEPSTAKES STUD
VISITORS and BUVKRS ttirong bis barn at Nebrwka Wate Fair ndl mU: 'IJRr,tA TOMi
I'M lrra Illinois." "I'm-JaY rom Mlwoarl. 8v, IAMS HAS THK HHT H0K8K 8IIOW I
EVIE SAW;. Yes, we Ihww four 2,0M)-iHund two-yenr-oId IAM8 1H A HOT APVEHTltfKR,
but be horse KICTTKR THAN HE ADVKRTLSK8: nicer thnn plclores." "HKLLf. Ma.
I'M FFOM IOWA." "I'M ZfKl, front ObJo. Fny. this in the J.EtT SiaiKQ OF
STALLIONS I EVER 8AW; they are mrc peaehen aud e.renin. See tboc aix 2,200-poand three
year ods-ll alike, too. Tbeynr A LI--HOOL ANI A YAKD WIDE. 7a ke, thty are rare "THK
VIDE-AS-A-WAGON SORT." "Roy, MOTHER, look! Thin to IAM8' OUEAT SHOW OF 1IOKBKS.
lit horses are all black and Mb. ton fellow; none on the -touikIh to cointftre with hi, lie al
ways baa the BK8T." "Well, Mimsnthy, here to IAMB' SHOW HKRU. KVKRYHODY Wnnla to
ee bit horse. We cane Irom Cttlitoruia to nee IAMB 6,100-I'OUND PAIR OK 8TALLIONR
THAT'S THKM; better than tbe plctureji. They are aure the greatert pair In the V, 8. Yea, and
WORTH GOING 2,m MILKS to we." "Hello, Louie, here to 1AM&' 2,400-l'OUNp 8WKEF
6TAKLB PKRC'HEUON stallloB OVRR ALL. Bella 'HUMMER. Hay, '1MC. ' I don't won
der at 1118 COMI ETITOItfi wanttng thia horse BARKED out oJ show ring. He to a SUKE WIN
NER anywhere. IAMS always ha GOOD ONES and, has them irr sbspe," "Hello, Bob. See
those Illinois men buying that 2,200-pound three-year-old, a 'TOF-NOTCLIER," at 11,200-MUCTt
BKTTEIi tban twenty of my neighbors rave S4,C00 for.'.' "Kl ty, see those fine COACUKRB OF
IAMS'." "Georgie, dear, they are lovely: tbey can look Into the aerond-story wliwlow. They
step bleb and fast -re!, lire WHIRLWINDS.' " "Yes, Kitty, IAMS IIA8 MORE UEGI8TERED
DKAFl" and COACH STALLIONS than ANY ONE wan in the U. S and all good ones." "Geor
gia, dear, yon must buy your next stalllou of IAMS. His horses are ranch better than the one you
paid those Oblo men SCw for, and IAMS ONLY ASKS 11,000 AND f 1,000 FOR 'TOlTEitS.'" '
IAMS has on band-; -, .
i47 Black Percherons, Belgian and Coachers 147
90 per eent blacks; W) per cent ton horses. IAMB speaks the langnsges, BUYS DIRECT from
breeders, pays NO BUYERS, SALESMEN or INTERPRETERS. Hes no THREE to TEN men aa
partners to share profits with. - His TW ENTY-TWO YEARS SUCCESSFUL BUSINESS snakes him
a safe man to do business with. lams guarantees to sell you a better sUllion at 11,000 and f 1,400
tban are being sold to stock eompanies tor $2,b 0 to M.oui by slick cslesmen, or pay your tare and
S26 1'ER DAY FOR TROUBLE to see them, YOU THE JUDGE. IAM8 PAYS UOkPK'g freight
and buyer's fare, gives 60 per cent breeding guarantee. Write for eye Ol'ENEIt and CATALOGUE,
... References: Be. Paul State Bank and First State Bank.
St. PouK Nebraska.
with money.
2,411 acres
Monty In Farms
I .Mrt-atre Urm 4 miles from He-iMt,t.-n
nt; m acres of the very
rholreat tiniher; (,(h). arr liul'iding
the limber la In f uture: prat tle all v
"II th taHrwe ndep toltlratfon; fc)
sna In ndcndld atand of slfalfn; to
arret cf n fine alfalfa land a 4 ran
fn'in.l let NehrniVA. ()ti tomnlete
M of ftrm h-lMlnga. all rctmi ard In
"fUdid repair all fen red and en
fenced and well watered, rtl.o tar
th entire trad. IW.tMXi. Tha krtalet
Piwrtuult- tu NebraakA, for raan
No. A79. .
of choice land In the
Repuhlican valley; 2 miles from good
town, ih Red Willow county: -700
acres under cultivation; 1,900 acres of
fine alfalfa and sugar beet land; six
sets of improvements: watered by 7
wells, springs and the Republican
river which forms the northern boun
dary of the land; 25 acres of nice
timber. This is a great proposition
for investors. Price $12.50 per acre,
and to the party who buys the whole
tract we will assign a lease to one
school section. Write for plats and
full particulars if interested. No.27H.
One of the best equipped ranches
in Nebraska, located in. Loup county;
leased for $1,000 per year cash. Price,
i0,000. Would consider good farm
land In trade for this.
Another great ranch In Loup coun
ty; 11 quarters of deeded land and
3 quarters of school land leased, plen
ty of fine range joining this land.
1,040 acres under irrigation ditch; 320
acres under plow; 160 acres In tame
grass, alfalfa, timothy and clover. 30
miles from the railroad, but road
bed is graded to within 2 miles of the
ranch. All equipment required on a
first-class ranch. Buildings ail fine
and painted up in good shape and
cared for. $8,000 worth of live stock
and machinery, implements, etc., goes
with this ranch. Price, $35,000. Will
take part in trade for good land or
good income property. No. A77.
EXCHANGE LIST.
$4,000 equity in a splendid farm near
Fairmont, Fillmore county, to trade
for ranch property. This Is a splen
did chance for some one to get one
of the best farms in the state. .
Several fine brick blocks, renting for
good price. In county seat town, to
trade tor land.
A number of stocks of merchandise
to trade for land.
If you have anything to trade, lUt
It with us for fi'ilck trade.
WKIlKIl & KAURIS.
Lincoln, Neb.
Special Bargains and lew Prices
an Offsrtd In tli Hwmi
Prcpeslticns
NatK. Cio-a. re farm. 100 arrea In
cultivation, 400 acrti In lasture, tit
an hay meadow; all fenred, guod
houe, barn, cattle ahej. granary and
other lui'Miw. Price $1 per sere.
No. 573. Hit) acn-a mitf fmni
KdJjTl!!, !btwon itntntjr; fotl bird
land; 2) acre Itt cuttivattun; home.
2 well and mtlla; Is (heap at f ier
acm
No. CTiX 1.9(0 ara on the ikmth.
loup Ulfer, 4'0 aer4 In cuUivstmo,
75 acres alfalfa; all fenced and good
soil; 100 acres timber; good improve
ments;, telephone connections.," Pfice;
$10. per, acre. . . ' ,'
No. 79. 1,100 acres bottom Jand on
Wood river; 350 acres in cultivation;
90 acres in alfalfa; 15 acres in brome
grass; there is no better corn land In
Nebraska; good buildings; is cheap at
$20 per acre. Will sell all or part
Good terms can be given. '
No. 673. v Barber shop and fixtures
for sale in good town; first class busi
ness established. . . ; j
No. 5C6. 160-acre f ami, 45 acres in
pasture, 100 acres in cultivation; "good
dwelling, barn, granary; -located two
miles from good town in Clay county.
Price, $35 per acre.
No. 675. Ranch containing 3,520
acres deeded, 640 acres school lease,
35,000 acres free range; fenced in six
pastures; 2,500 acres good alfalfa land,
120 acres in alfalfa; 50 miles of fence;
12 mills and wells; 3 sets of good
buildings; with the ranch goes 175
head of cattle, "150 horses, including
imported stallion 6 years old, weight
2,100 pounds; 100 marcs that will
weigh from 1,000 to 1,700 pounds; 1,
000 ewes; will exchange for Iowa or
Illinois land; or will sell, good terms
on half the amount. Ranch located
on R. F. D. Price $S per acre and the
stock at market price.
No. 6C4. 73 acres at $C5 per acre,
located only two blocks from high
f.chool at Cheney, Neb. Fine , build
ings, good 7-roora house, barn 21x32,
granary, 2 corn cribs, farm in a high
state of cultivation; this Is cheap.
No. 17. 320 acres on the Lo ip bot
tom with one half mile of tho river,
plenty of free range adjoining. Frame
house and barn and other good Im
provements. $5 per acre. Must be
sold at once.
NICHIIASKA RKAL ESTATE CO.
3. IL KDMISTKN, President
Boy. Do You Want Watch?
The Lincoln Pally Star desirea to
Klve away free to the boys of Ne
braaka l.oflO new watchea nmt-claa
t!me Keepers stem im and sttm
itt. You don't have to pay any mon
ey to rH one of th watchea, 8nd
u your name and addresn and we
will mall you full particulars. ThU
U a splendid chanc for th boys to
pet a watih fre and w woultt llk
to hear from all of them. Addre,
Watch lxpartmentt Daily Star, Ua
ila, Neb.
The ms.hlna will Keep on rraftlng
Jul aa lonjj a th peopl Keep on
voting for thtf nurhln. Th remedy
I. If you don't want grafting, don't
vote for It