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About The independent. (Lincoln, Neb.) 1902-1907 | View Entire Issue (March 17, 1904)
2 THE NEBRASKA INDEPENDENT MARCH 17 1904. side of Great Britain or France will listen to it for a moment. It is ab solutely impracticable; nay, more, it i3 absurd and mischievous. However, for the sake of argument, let us sup . pose that this impossibility were " overcome, let us suppose that the vari ous government of the world agreed to adopt Senator Benton's exploded scheme and eschew paper notes alto gether, and entered into a monetary convention, as was advised by Henry Hucks Gibbs (Lord Aldenham) of Lon don, Samuel Ruggles of New Yoi k, and other supporters of the monetary schemes of the past thirty or torty years. What would then, happen ? . Why the money so coined, whether of gold or of silver or of both metals combined in the coins, or fixed in rel ative value by law, (it does not in the least matter which), would have, as indeed gold already has, a tendency to gravitate from the distant parts of the earth to the central, from the poorer states to the richer, from the new to the old, from the sparsely pop ulated to the densely populated, from the agricultural to the commercial, Mr. Gibbs, as governor of the Bank of England, was well aware of this, fact; 'Mr. RiicirlA was tint. Henra tha npr. sistent efforts of the former to estab lish an International money, so that the great Bank with which" he was connected might hold the commerce, aye and even the politics of the world In thrall; efforts which " ctfy took the form of international Bimetallism" after his more open scheme of in ternational go'd coins bad failed. Hence, too, the ease with which such monetary neophyteg as Ruggles, El liott, Knox and Boutwell fell Into the traps of the accomplished London fi nancier. It it be asked why universal money, or what Is practically the same thing, the precious metals, (now consisting of gold only), tend to flow toward the most commercial states, the answer is that in those states coins do the most work In the shortest time; they ef fect more exchanges, they circulate more rapidly, they purchase more of the general requirements of life, and when they become redundant the re dundancy can always be readily dis posed of to Jewelers and other trades men, who stand ready to manufacture 'it Into profitable works of art. The delusion of an universal money owes what support it has obtained to another delusion. This is, that money Is a commodity and that as such it is subject to the same laws as are sup posed to control other commodities for examnlfl tr thp low tho iroi.,A conforms to the cost of production, also to the commodity law of supply and demand, etc. The delusion that money is subject to the laws of com modities has been exploded over and over again; still there are people who read the economists of the old East India Company, or "Mercantile" school, and who are oblivious to all that has happened since those sophists wrote, au otner commodities except Will You Help a Sick Friend? V Get My Book For Hisa Now. Vhich lull I tend? Book I on Dyspepsia. Book 2 on the llenrt. Book 3 on the Kidneys. Book 4 for Women. Book 6 for Men (sealed.) Book 6 on Kbeumutlsm. fiend me no money. Only tell me which book to tend. You certainly know of tome one who Is sick tome sufferer who will be grateful lor the help my took offers. and that hook tells of awsy to help. Tells of a way to certain that I, as a phulclan, offer that hein on trial. The book tells how for 30 years In hospitals and t bedsides 1 searched fr a way to our 0p-Mted and difficult diseases. It te'ls bow I perfected mi prearrlpUon Dr. thoopt Veetoratlre. How bysrten tlflo experiment 1 traced out the causes that brine on chronic dtteases. 1 round InvartaMy that where there was a weakneas. the Inside nerves were wak. Where there was a lark of vitality that the vital nerves lacked power. W here tiKu wrn uHiuu, i niwBja lonna weak nerves. Km the nerves commonly thought of, rut the vital Trans' nervea. tbe tam.ie- ibt luvisl1 le nerves. Thia was a relation. Then my real succeat beeaa The I combined Imredlenuthal would ttrenathen' that would vitalise lhi-e iimn. i btt nrrti.tlou i called a restorative, it ts known the wor d over now at Dr. fhoup-s hestoratlve. After that I dt4 not fall ta cure one ease la each huadrml. In the eitrrnielr dir. ftcu't cases ray failures fur (! years were one in each fens treated. 1 tuupd cancer Incurable, i sacer in for turtrrf . a4 medicine. Thea how to ft this preserlnlluw to !rk ones ever, wuerawasmy thought, imul announce It m the public presa Hut. thoMf at I. will t.Vy raila the truth of iwf dlarovery-the real pewernf ir h.i, i Meslorailvef 1 a way caw tome like an Inspire tiaa. wtil effer It to the sick ca trial. iUoutucr WUI knw I am ttneere. I wrute a rWiaM drumtst In each elty sad village In America. I hey err-4 ! cv-oprraia wiu me. am by any tt h Dr. Sksop's RcsloradTO On be taken a trial let a full mata I will tr u it vaunt at mi rt-a mj no taer. Jut wrtte me fr the Kn Heed, WbenlMn4lti will till .i ,4 a SnitstH ar ? l'l tnait Ue mihi tritl. h u ktfftti a Miia. t bra t i.) it mi t in drtst - t dui at kelp ate," !) win min j any r I )!. ehlr'f win bill rm ma, 1ki t tef wsi ef elosriag i-t etit nf til ,. ta as t wka I r ..wv ta a miir er)udiewl, u an4 iptU tax ab4u a. ear.tr I mdee, V taaa4 rt an ? Die tbts If tm are at all U.S. It u aava a weak news, wrtte tea Iftwi saelSa C:- like awst to d thn. toil me att it, W la it AtaphrMriaa I a'll toil vi to n"iev .et mi b n- t.isy J 'rsa lr sbMnas . toei, aaeiae. Mia L,J eaaM, at ihrvMie, are .'iew tared with aoe y twabtiiuea, ailrutrftMs. gold and sliver are consumed within a short period after they are produced. Either because ihey are perishable, or because there Is no advantage In ac cumulating them," they are quickly consumed. No great stock of them remains. Neither does the law confer upon them any privilege or attribute which renders It actually or expect antly profitable to accumulate them. The world's stock " of breadstuffs, meats,- fruits, textiles, irou, copper, paper, or any other commodity except gold and silver, is probably not suf ficient for two years' consumption. Hence the values of these commodities must conform more or less closely, to the cost of their production or re production; because unless the pro ducer was able or expected to be able to cover the cost, he would soon cease to produce. But with gold and silver (as commodities) the circumstances are entirely different. These sud stances are-. Imperishable. Therefore there is nothing risked in keeping them. The law confers Upon them ex traordinary attributes and functions. It permits them to be fabricated, sub stantially free of expense, into coin; and upon such coins it confers the power to pay taxes and debts in a word, the power of legal tender. It also authorizes paper notes to.be is sued upon a "reserve" tot coins; and so renders the latter liable to be sudden ly demanded in payment for the notes. Here Is a motive and a reason for ac cumulation. In a period of panic the value of coins has risen 25, 50 and even 100 per cent In the course of a day. In point of fact the 4 accumula tion of coins has been very'great. The stock of coins in the commercial world a century ago barely exceeded 300 millions of pounds sterling, or fifteen hundred million dollars; it is now es timated at 1,200 millions sterling. With a cumulative stock there can be no conformity of value to cost of pro duction, seeing that eveiy addition to the stock must necessarily fall in value as compared with the Whole stock. A cent'iry ago a gold dollar formed one twelve-hundred millionth of the whole metallic measure of val ue. It took its value not from the cost of production, but from such pro portion. Today, a gold dollar forms but one six-thousand millionth of the metallic measure of value and tut one twelve-thousand millionth of the whole measure of value, If regarded as consisting of metal and paper .notes combiped. It . therefore s fetches the miner4 far less of other commodities in exchange than It did before. Not withstanding the -enormous fall of prices" since 1873 " commodities and services are far more costly today than they were a century, ago. Dol lars are lower in value and commodi ties higher. Does it pay to produce the precious metals? This question has been an swered by practical men in the nega tive. On the whole it not or ly does not pay, but it has ruined every coun try that prosecuted the industry. Why, then, has gold continued to ,be pro duced? Because mining Is gambling: because gambling is fascinating; and because the law has made it fascinat ing by opening the. mints to the pur chase at a fixed price (measured in themselves) of an illimitable quantity of the precious metals, which it then gratuitously turns into legai tender money, ir it did the same for wheat, and wheat were indestructible that. too, would have to be produced, if it were produced at all. at a loss to the producer. The evidence as to the un profitable character of gold and silver is regarded as overwhelming; and un til that evidence is invalllated it is quite useless to insist upon the dogma that the value of the precious metals conforms in fact to the cost of their production. It . does nothing of the sort. It confoims to the dimenslmm of the whole etock in hand; each frac tion or which has a tendency, when not disturbed ty such legislation as that of 1873, to fall in alae or pur chasing power. The law of supply and demand Is as little applicable to the precious metals as that of tost of production. This Iaw holds that supply will aiways seek to conform to demand, and demand to supply. Quite correct as to other roin-modltlc-s. but totally erroneous as to gold ami silver a they now stand in the law. Under the Influence of law, the drmnnd for thcs mibstanees U il limitable. The Uw confers upon them the attribute of money, and ttu-refore mitfce them trmltrtiti or instantly exthanjieable for any other mm mod' Ules or servltrs, and for debts i! taxes. No nian can have enough of them; he alway wants more. The supply Is limited by the adventitious dlmivery tf mtte, by the conditions of mining, by man s very H.nitcJ abll Ity to explore th ret s of the earth and by many other rlrmra taures. The awreplnj rule of the old economist must Ihj laid snide; It does not arpl lo sold iud silver as M WsII, well! Cheer up! Qet busy lams' peaches and cream are ripe. They were sensational "show horses," "live whirlwinds" at the Nebraska State Fair, (lie had s snap.) lams had a whole barn full of prize wlnaer there, famt won first oa four-year-old Percherons in class of thirty-two (an easy vio tory). Also championship sweepstakes Percheron stall on ever all, and many more prizes. In fact all the principal prizes in Percherons, Belgians and Coachers. Then lams kept his great 51,000-pound show 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 100 stallions received August 23, 190Sv,Vere 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 Percheron winners at leading horse-shows,'' as well as winners at leading "horse-shows" of BELGIUn and GERflANY. lams is justly entitled to the name , SWEEPSTAKES STUD YI9ITOB8 anrt BUYERS ttmmg bis burn st Nebraska mate Fair and aatd: "HELLO, TOM! . I'M frosi minola." "I'm ELY from Miawurt. Bay, IAMS HAS THE BEST UOKSJi-SIIOW I EVER RAW. Yea, see thorn four 2,000-poand two-year-ohls. IAMS IS A HOT ADVERTISER, bat h hss boraca BETTER THAN EX ADVERTISES: nicer than pictures." "HELLO. MR. I'M FEOM IOWA." "I'M ZKKJC, from Ohio. Bay, this is the BEST STRING OF BTALLION8 I EVER SAW; they are sure peaches and cream. See those six 2,200-pound three year olds all alike. too. They are ALL-WOOL AMD A YARD WIDE. Zeke, they are Mire "THE WlDE-AS-A-WAGOW BORT." "Bay, MOTHER, look) This is IAM8' GREAT SHOW OF HORSES. Hia horses an all black aad tagton fellows; none on the grounds to compare with hia. He ai ways hss ttvs BEST." MWeU, Saoanthy, bsre la IAM8' SHOW nERD. EVERYBODY wants to ate horaea Wa esune from California to awe IAMS 6,100-POUND FAIR OF STALLIONS. THAT'S THEM: bettar than the picture. They are lore the greatest pair in tbe U.S. Yes. and WORTH GOING 2.SC0 MILES to aee." "Hello, Lonle, here is IAMS' 2,400-POUND SWEEP TAKES PXRCHKBOH stallion OVER ALL. He ta a 'HUMMER.' " "Say, 'DOC. ' I don't won der ! HIS COMPETITORS wanting this horse BARRED out of show rinfr. . He is a SURE WIN XEB anywhere. IAMS always baa HOOD ONES and has them in shape." "Hello, Rob. See tbos llUaots smb boy tag that SJOO-poond three-year-old, a 'TOP NOTCH ER," at 1,2U0-MUCH BETTER naa twenty of DjrslorsgaTeKOOO for." "Ki ty. see those fine COACHERS Of IAMS'." Georgle, eear, Ihey are lovely; they can look Into tbe second-story window. They step bfra aad &itl,lrre'WHJRLWIND&''' "Yes, Kitty, IAMS HAS MORE REGISTERED DKArr and COACH STALLIONS than ANY ONE man In the U. &, and all good ones." "Geor gia, dear, yew sanst boy veer next stallion of IAM& His horses are mncb better than the one yoa paid those Ohio sacs tioQ for, aad IAMS ONLY ASKS ILOOO AND tlOO FOR TOPPERS.' " IAMSbasewbaad ...... -. ' 147 Black Percherons, Belgians and Coachers 147 SO per cent Weeks: M per sent ton horses. IAM8 speaks the languages. BUYS DIRECT from breeders, pays NO BUYERS, SALESMEN or INTERPRETERS. Has no THREE to TEN men as partners to anare proSta with. His TWENTY-TWO YEARS SUCCESSFUL BUSINESS makes bim S safe man te do boat seas with. lams guarantees to sell yon a better stallion at $1,000 and 11,400 thea are being sold to stock companies for $2,500 to 14.000 by slick salesmen, or pay your fare and 126 rd DAY FOR TROUBLE te see tbem, YOU THJt JUDGE. IAMS PAYS HORSE'S freight aad buyer's fare, gives 0 per eeat breeding guarantee. Write for eye OPENER and CATALOGUE, Keieraaees: St. Pan State Bank and First State Dank. ft St. Paul, CATTLE tin Stock S!; Kye & Bote Co., COUTH OMAHA, NEBRASKA. Best possible serviee in all de partments. Write or wire us for markets or other information. . Long distance telephone 2305. . regulated by the law. It is a delusion to suppose that money is a commodity In" the sense that it is subject to the laws of commodities. Money has Its own laws, and it is time tnat states men, economists, diplomats and busi ness men should study them and cease to rely any longer upon the fantastic doctrines of the Mercantile School. With the deiusion that money, or coins, or even bullion is a commodity and subject to the laws of commodi ties, must disappear the delusion of an universal currercy. It cannot be too often or too strongly insisted upon, that money, no matter of what sub stance its symbols are made, is in fact and must necessarily always be, a creation of law; and therefore that an universal money means an uni versal law, whilst an universal law means an universal government. Money is no more a commodity than thought is printed letters. One is a mere symbol of the other. Money is a measure of value and like all other measures, if it is to measure equit ably, it must be limited artificially. To leave this limit to the mines, is to leave it to chance, to violence, to in justice, to murder, to slavery and to economical Iom; agencies that must ever tend to letrsen thU limit that is to contract the curremy In propor tion to the increasing work it has to perform, llecaui the precious metals are produced st a loss, three-fourths of the entire product of the world go into the Jeweler's sunns, only one- fourth to the mints, barely sudlctect (o maue Etxxt the weu; and tear of coin and not enough to keep pjt with commerce. The conseu-tenre is to all places, euept London, an ever increasing prorortloti of papr money and an ever Increasing obstacle In the way of universal money. The logical end of Tree" coinage is taittr; the practical end of ,,frrw" coinage is Greenbacks. Al.r.X, DEI. MAIL New York, N Y. FRA K RSES M Nebraska. To the Farmers of Nebraska:"i get elegant robes or coats made from the horse or cattle hides you sell to local dealer? Write for particu lars or send your hides to . tbe uncoln mm Henry Helm, Prop. 413-315 O Street. E Llncaln. Nab. JHE BEST WAY -?JstK Canadian Notrhwcst is to subscribe lor Tub Recina Standard. , Land agents mat exagger ate, but the newspaper couldn't hide 'the truta if ittrled. It retWtatho rlallw Hfk f ih. their thoughts, actions and condition, in a iuvusuuu way-i woicn uie snrewa reader can de tect, even between the lines. 14th year; 12 pages; Subscription J1.00. do it now. J. K. riclNNIS, Pub'r Box 4-44. REQIN A, Canada A. D. KITCHEN, Real Estate and Rental Agency, 1222 O St., Uncoln, Neb. FARMS WANTED. If you want to buy a farm, or if you want to sell a farm, see me. 1 have several buyers who want to buy. List your farms with me. of this ear indicates Ker-V"' w factlriMi of thoroughbred corn. 1 ne eod el the harv est aUl demonstrate the fact I that our improved varieties of SU Corn will yield to 50 more lhau the olOoi kuuia. Costs Cr.lv 25 Cents Per Acrt S nUnl ut ckok. m4 Mta. Yi ; f I silunl ith tkMUful H' k m InfctMw I -Kg tltaMMl CM1 ! U rat. I bum ! mIi4 bmm Cunt a4 alw b4 lllMlKIM4MiMUV.k Wl 20WA IIIO CO., Sse Kataas, lava. TREES THAT C0V Sw4tbMlMliiltu,.tt MIX Stall Issliiia, Sa Do You Win! Emplojmint? We can get it for you. All km Is of ponltion urcuretl for rxi, honest working people. Lincoln Kmloynicnt Agency, 13 1 1 U L, Uncoln, NeU 1-