JUNE 9, 1904.
PAGE 6.
THE NEBRASKA INDEPENDENT
The Philosophy of. Freedom
An Open Forum (or Single Taxers
THE ABOLITION OF, INTEREST.
Editor Independent: In a recent is
sue of The Independent Wm. Heywocd
Buckley says: "I defy any man lh
ing to name, not a score or two, but
ONE economic social ill which tlsc
abolition of Interest would not cure.''
I have not saved The Independent
containing Mr. Buckley's article, and
therefore cannot criticise it as I would
like, still I think I can point out at
least one or two social ills that it (the
abolition of interest) would not cure.
- Mr. Buckley will probably admit
that poverty is a social ill and I will
undertake to prove that the abolition
of Interest will, not cure poverty. If
there were rich men willing to lend
their money without interest they
could do so, and if they were able and
' willing to supply all. the money re
quired by borrowers who had good
security to offer for the return of the
principal, Interest would be abolished.
Would that abolish poverty? Inter
est is not the - only tribute levied on
production, rent would still exist, and
as civilization advanced and popula
tion increased, the tribute exacted by
the landlord would increase.. As the
usurers could no longer get Interest
on their money they would buy land
with It, there would be far more lai.d
speculation than at present, rent
would be higher, wages would be lit
tle if any higher, and poverty would
still exist.
The abolition of Interest would not
'give us a scientific system, of money,
trade would often be paralyzed for
want of sufficient money to carry on
an Increasing Commerce, and at other
times we might have inflation. No
one who objects to interest can con
sistently uphold rent, for no objection
can be made to interest that does not
apply with at least equal force to
rent; while there are objections to
rent that do not apply to interest.
Some people claim that all things
are good, and that things that appear
to be evil are good things misused.
Whether that theory is true or not I
think it is true of rent and interest.
As long as we allow private parties
to appropriate rent, we will have
wealthy landlords living in idleness
on wealth produced by others; while
'the poor- will either be working for
small wages, or be idle for want of
opportunities. The remedy is for gov
ernment to appropriate ground rent
for revenue; it is a fund that belongs
rightfully to all the people, and should
be used' for the benefit of all the peo
ple. ' 1 ...
When1 this Is done, rent, instead of
beiug a social evil, will become a so
cial blessing. The community has a
right to rent, but it has no right to
interest on money 'earned , and owned
by individuals. It has a right, how
ever, .to interest on money issued by
the government. If the government
("would issue money at a low rate of in
terest, the whole people would receive
a large revenue that now goes to
swell the fortunes of bankers who
have no right to it; and the persons
who would borrow the money would
get it on better terms than they other
wise' would.
'Attempts have been made to reg
nlate interest by laws prohibiting peo
ple from charging more than a cer
tain rate; but such laws have always
failed to accomplish the purpose for
which they were passed. The rate of
interest depends upon the supply and
demand of money; and the way for
government to regulate the rate of in
terest, la to increase the supply of
money whenever the demand Increases
nml to decrease the supply when the
demand diminishes. This can bo ac
complished by fixing a low rate of In
terest and supplying the demand at
that rate to all who could giv good
iwmlty., If that was done it would
e unm'HKnry to Interftro with Indi
viduals loaning money, for v no one
would be compelled to burrow from
.them at exorbitant rntca, and they
could never r t more from people with
good Hocurlty than the Kovrrniwitl
rate; but whenever thr wat n llRht
t-xr.-i of money In circulation private
purlieu would offer b an at lem than
th Kovernment rate, and so prcunt
inflation.
If till was done, lnteiet. Instead of
l.lr,5 a uncial mil a It la at prenl,
would, like rent uiuUt lh sIukU tat.
ieeom a nodal blhi. In fact, the
two proposal are founded upon the
ant principle. I will quota Tur
Kill' tlmlle to fchow the Nneftti of
low Interest: "Th rate of Interest
ntav looked it a a Wind of levil
below tilt h all otk. all culture, all
iitduktry, U trail teaKe. It U IU
t lea preal over a at country; th
mountain tops rise over the waters,
and form fertile and cultivated Isl
ands. As the sea level sinks, the de
clivities of the mountains, then the
plains and valleys, appear, covering
themselves with produce of all kinds,
it is sufficient for the water to rise,
or fall one foot to inundate extensile
shores, or to render them back to
culture. It Is the superabundance of
capital which enlivens enterprise, and
the low rate of Interest is at the same
time the effect and the mark of the
superabundance of capital."
We could get along very nicely with
a low rate of interest, especially If a
good part of that went to the state for
the benefit of all. There are some
strong arguments in support of the
justice of a moderate rate of interest,
and I will finish by quoting a few
short extracts from "The Ethic of
Usury and Interest," by Rev. W. Blis
sard. He says of those who save a
portion of their produce to aid futu e
production: "He has labored in this
non-destruction of what he might
lawfully have destroyed and he has
by so doing been instrumental in In
creasing the productiveness of future
laborers. He has therefore a right
to receive something more than the
return of an equivalent to the food and
clothing which he advanced. Also
productiveness being increased there
is a fund out of which he can without
loss give the recompense." This is the
foundation of interest on capital."
JAS. S. PATON.
. Toronto, Ont.
Is There Room At The Top.
Cincinnati, 0., June 5, 1904. In dis
cussing the question as to whether
there is always room at the top, Mr.
Herbert S. Bigelow, of the Vine St.
Congregational church, said:
Other things being equal, of course,
energy and ability will tell. The ques
tion is this: In the present social or
i'er do many reach the top by fraud
or favoritism, and does merit, in many
instances, go unrewarded? Who
doubts, that this .Is, so? . , ,
Here Is an object lesson not a
fancy sketch either: Mr. B., a friend
of mine, 18 years ago was working for
810 a week. , He has the same Job
today, and in those 18 years he has
had an increase of but $3.50 a week.
He has .been sober, having and in
dustrious. A professional regulator of
other people's lives could find no fault
in him. , With this wage, the husband
find wife and children all working
nave managed to buy a little home.
The oldest girl is working for $2 a
week. It takes all her wages, twelve '
weeks Jn every; year, to pay the .taxes
en their home.: Thiaj amounts in part '
to paying tates on property -that is
not theirs, for they have, to pay in
terest On a mortgage besides.' The
house is listed for taxation for "more
than they would be glad to take, for it.
Yet the street railroad company, to
which this man has to pay 5c for a
ride that is not worth more than 3c,
is capitalized for $20,000,000 and pays
taxes on $2,00p,000., This is the way
practice the Golden Rule. - '
If Mr. Schwab's Income is what it
is reported to ber'he gets over $100
tor every penny earned by tho daugh
ter of this artisan, II is not unheard
of for a 'preacher to receive for a wed
ding service, which may not take over
ten minutes of his time, as . much
mcney as it would take this girl from
trree to six months to earn. The man
on top, who thinks he is worth so
much more than his fellows, must
Lave a good measure , of self-esteem.
Put he is no more remarkable than
the man who will admit that he has
i.ot a dime in his pocket and has
fli In freight cam for a week and
Bt 111 agrees with the thoughtlcKH ma
;orlty that 'there Is room at the top.
Me might as well warm himself with
the thought thai there h room at the
North ih)I
No nodal order could lx o virion
I ut that tom would mrambb to the
U p. Men of genius are able to look
out for thcm ben, That Not-jet y H
tried In the balance and found' want
ing whlih dt not uy to the tnau of
average ability, and even le-t than
tlat, yea, even of "the. eat of theno"
my brethrenthe men who are will.
Irg and content to do tntn useful
Hork, without any ambition to k t to
the top:
'They nhall noi build and another
Inhabit;
They nhall not ork and another
tat."
AUaya room at the topi Indeed!
f o mild the print and the Lev lie to
the sounded traveler. "Tier U plea
ty of room on our side of the road,"
and passed by though humanity lay
bleeding by the roadside.
Slave of Mammon, sit in your office
p,nd count your profits. Blow away
your obligations to humanity like a
puff of smoke. Swagger at your clubs.
Subscribe 'your thousands to charity.
Sneer at truth. Snarl at justice. Your
soul, like the soul of Carker, lies in
ashes.
SPECIAL MARKET LETTER
FROM NYE & BUCHANAN CO.. LIYE
STOCK ""COMMISSION MER
CHANTS. SO. OMAHA.
NEB.
Cattle: We sold a bunch of cattle
Tuesday for Mr. A. W, Sprick of Fon
tanels, Neb., at $6.10, the highest
price here for a year and a half.
Prices have advanced a 'notch every
day till Wednesday and the market is
$1 to $1.40 above the low time of the
season. There were fears. of a heavy
run this week, but so far it has not
materialized here. Chicago had 22,000
Wednesday and broke 10 cents.
We quote good choice corn-fed
steers $5.50 to $5.90, (extra choice up
to $6.10), fair $5.00 to $510. Good
fat cows and heifers $4.40 to $5.00,
fair cows $3,75 'to $4.30. Canners
$2.50 to $3.00. Steer stock calves $3.80
to $4.25, heifers $1.00 to $1.25 less.
Veal $4.50 to $5.50. Bulls $3.50 to
$4.50.
Sheep: Market strong. Little do
ing. . ;
Hogs: General tendency for the
past week is higher. Range $4.50 to
$4.80.
Free Farms Of 640 Acres Each.
The new law providing for .home
steads of 640 acres after July 1 In
Nebraska, is attracting wide atten
tion and people are coming to this
state to avail themselves of this very
liberal offer from all. the adjoining
states.
Here are the conditions: The best
lands have been taken, but much of
the land heretofore taken is for sale
very cheap, and by buying a quarter,
half section or even a section, it will
enable any one seeking something of
this kind to secure . as homesteads.
and joining that which they buy, from
one to a half dozen homesteads of
640 acres each.
We offer the following, which is a
sample of the many bargains we have
of this character: 320 acres deeded on
the Middle Loup r'ver, 240 acres of
this Is on the bottom and is first
class alfalfa land, frame bouse of four
rooms, frame barn for eight horses.
buggjt shed, cattle sheds and corrals,
well and wind mill. ' 3U miles of
fence, has y2 mile of river front, join
ing this are Jjjree.. homesteads to be
taken of 640. acres each that Droduca
as fine grass -as . could be desired for
stock; this, bargain is located three
miles from town on the B. & M. R. R;
The price. of this farm and ranch a
$1,800, the improvements alone cost
$1,000. .
We have alona: the Inn rivors a
great many just such f bargains wii h
government land adjoining, and if par
ues Duy or us we will assist them in
getting homesteads if desired.1 These
bargains cannot be bought for1 these
figures after the .new, law goes- into
effect. ' ,
If you want anvthiner" of this kind
write or. come and see us at once.
We can accommodate yon'." ,,
NEBRASKA REAL ESTATE CO. :
J. H, EDMISTKN.Pres.
50 Favorite 5engs:
For one dime I will e,cnd von n-ist.
paid a collection of 50 Favorite Songs,
words and music. Just the thing for
social gatherings. C. J. Brown. r,a;t-
lett, Neb.
Lc5S Than Half Rates
On Mondays, June 6, 13; 20, and 27,
the Burlington offer ticket to St.
Louis and return at $;i.25. good for
seven daysconsiderably lens than
one fare for the round trip.
Ticket are Rood In coaches and
chair cars. (Suits free.)
Tin' mugulllrent exposition H now
complete and In harmonious opera
lion.
You will re;rret it all your life If you
fail to wee thh wonderful exposition.
Illustrated folder free, and full in.
formation on application to IhirUnt;.
ton lioute aRent ,r to ! W. WaM ley,
lateral pawne r ak'ent, Omaha, NVb.
that all "who read can understand. Mr.
Shinn is authority upon thesubject of
lightning and X-Ray machines. He is
proprietor of the largest factory ia
this part of the country for the manu
facture of X-Ray machines and cop
per cable lightning rods.. His pamph
let is splendidly illustrated, showing
the wonderful possibilities of the X
Ray machine and its many uses. The
pamphlet is free to those who ask for
it. Address your request to W. L.
Lincoln, Neb.
PAYS 20 PER CENT YEARLY.
There is no class of investment so
satisfactory as dividend paying
stocks in substantial corporations.
Such stocks as a rule cost money, but
that is frue of anything worth having.
Stocks that can be bought forneariy
nothing generally are totally worth
less. But such is not the case with
the stock of corporations formed for
a definite purpose and the legitimate
of a marketable article.
In this issue Independent readers
are offered an opportunity to .buy
stock in the Dixie Plantation Co. a
company for the operation of a thor
oughly equipped cotton producing
plantation. The plantation earnings
in the past have been large and will
continue to be large. The south is
now beginning to develop and the
plantation of 2,200 acres in Louisiana
will fast increase in value. In the
same ratio every share of stock in
the corporation owning, the plantation
increases in value. This increase
would be profit over and above the
annual dividends. As a stock invest
ment readers of The Independent can
net do better than to subscribe for
shares In the Dixie Plantation Co. at
$10 per share. The stock is limited
in amount, only 4,500 shares remain
ing to be soljj and will not be on the
market j long. Ten per cent of the
amount subscribed for ($1 per share")
must accompany the application and
the balance will be due December 1.
The Independent recommends this
stock to the favorable consideration
of its readers.
Homesteads In Rosebud. .
lands are to be opened in July. Full
particulars as to dates and places for
registration and places for drawings
and final entry, requirements of the U,
S., homestead laws, maps, etc., are
contained in a pamphlet "New Homes,
in the West," issued by the Passenger
Department, Chicago & Northwestern
Ry. Call on any ticket agent of the
Northwestern Line, or a copy will be
mailed to. any address, on receipt of
two (2) cents in postage by
R. W. McGINNIS, Gen. Agt., T
ILncoln, Neb.
Please mention The Independent..'
lntrtlng Information,
Mr. W. V, Hhlnn has Issued an In.
tenatluR and iMtruittve. pamphlet In
relation to the lawa and naiui uf
Ikhtnlne. It deal with th kin. I. ii I
dentin ally and H written In a
all Paper
We have the most elegant ari
complete line of wall papers to be
found in this part of the country.
Write for estimates, .prices and
samples. ,
COMPARE THE PAPER
with any you ever saw, and we
believe this atock will prove up
to your comparison. There's
quality in what we sell and ex
celtonco in the whole stock.
Colors That Are Durably
Patterns That Arc Up To Date.
Lincoln Wall Paper & Paint Co.
230 South llth., Street
Lincoln, Nebraska
I ) M I .
mm
TrVl'ANY'i .' Iatli u
t.U (lt)ar) fnnfel4
ID lb Itnat taenia fnuf
fowl fr from luw. Kpriskta
hn 1't th )llt t'Mi k will
tufanolM- Tifiti''rK
l.ltjut.i' kiti mid- latum!?.
Pirtnki Wit for hKt rtxwUi
frr tou, ioi txjwtivr fr liu
11 turkajt ibJ t'tkka tnwfc
114 lv. W ni
TtlKlirr 4t l o
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