PAGE 6.
THE NEBRASKA INDEPENDENT
JULY 21. 1904.
The Philosophy of Freedom
An Open Forum for Single Taxers
. IN RE ROEBUCK.
Editor Independent: In your Issue
of Julv 7 Mr. Walter II. Roebuck
criticises my article in The Indepen
dent of June i). He objects to my
- statement that "the rate of interest
depends upon the supply of and de
mand for money;" but he does not at
tempt to tell us what it does depend
on.
?' It is always easy to get up a hair
splitting argument that does not lead
anywhere, and it seems to me that a
good part of Mr. Roebuck's argument
is of that kind. Because money is
used to buy capital, or wealth, he
'claims that interest is paid for the use
of wealth, and not for the use of mon
ey, in spite of the fact that money is
actually loaned and the money lender
"rnplvPH Intprpst. flredit mav be ob
tained in other ways than by borrow
ing money; still a great deal of credit
is obtained in that way, and many
able writers agree that the rate of in
terest depends upon the supply of and
'demand for money.
, On what else can it depend? Mr.
Roebuck claims that Interest is really
'paid for the use of wealth; but he
surely does not claim that the rate of
interest depends upon the supply and
demand of wealth. If there is an in
creased demand for a certain line of
goods, it is the price and not the
rate of interest that rises,
f Mr. Roebuck says: "Money is sim
ply a medium of exchange." It is more
than that; it is a measure of values,
and as such should always be of the
-game value; and he has not shown
that my proposal to supply the de
mand at a fixed rate of interest would
not have that effect. He admits that
"the government being backed by the
wealth of the country, is gilt edge se
curity," yet farther along he says:
."Will It not be found that when the
government goes into this sort of
thing its credit will fall, and the dol
lar bills it issues will not be consid
ered sound and will not be of as
.much value as they are today?''
That would happen if the govern
ment was to issue more money than
was needed, but it could not happen
with the plan I propose, because pri-
1 1 1.1 i .1 i .
rate of interest they could get, and
whenever there was less demand for
money than usual they would offer to
lend money at less than the govern
ment rate, and there would be less call
for government loans. Mr. Roebuck
has not proved that my proposal
would depreciate the currency; conse
quently it is not fair to assume that
the evils resulting from a depreciated
currency would follow if my plan was
adopted. , JAS. S. PATON.
- Grimsby, Ont.
(Technically, no doubt, "interest"
Js payment for the use of wealth
Whether capital" or not as distin
guished from payment for the use of
Jand (rent)," or the use of human en
ergy (wages). But a little thought
.will show that there is interest and
. Interest.
, When I hire a horse and buggy for a
day and pay therefor the sum of $5,
part of that sum goes to reimburse the
livery stable keeper for his own or
Sired service in caring for the horse,
keeping the buggy washed and oiled,
etc.; but part of it is payment for his
investment in the horse and buggy
and, therefore, "interest." When I
hire a horse and cultivator to use in
working my garden, a similar state of
affairs exists.
So when I borrow $5 at the bank'
or from a chattel mortgage 'sharkI
, pay "interest" for the use of the,$5.
But the fundamental difference
comes in here: In either case re
specting the horse, and the buggy or
cultivator, these articles of wealth are
tubject to deterioration and decay,
When I return them to their owner
after the day'H uso Is over, they are
one day older and one day nearer final
dissolution. There must, In the very
nature of things, eomo a time when
the horse will die; when (he cultiva
tor and buggy will po to the sciap
heap. So that the "Intenst" I pay lor
use of mh articles of wealth Is really
the ptftha.se prkj tf a temporary wale
of the name.
Nut t In the rase of borrowed mon
ey. I am not obliged to return the
perMe eilnt I borrowed, but what 1
da return roul to Just ft guml, Ju.t
as "young," as thoe 1 revvlved. Al
though a given roln will ultimately
wtar below the limit of toleration, the
km never falls on the man who bans
It, The money loamr's "capital," like
the tree and truth, ts ever young, it
etver wiars out. The borrower does
not stand In the llicht of a temporary
(urthsser, pa)lng for Ms shars of Uc
ertoratlon and wear and tear, but Ibe
"interest" he pays is tribute, pure
and simple.
Whether Mr. Paton's plan is the
best one, is debatable; but he is head
ed right.. The coinage, issue and con
trol of money now being in private
hands (since the Sherman silver has
all been coined), substantially every
dollar which gets into circulation haa
a usury string tied to it, which en-;
ables the person who let it out of his
possession to eventually pull it back
again into his possession, not only as
good and new as it ever was, but also
dragging back with it another one
like it or its equivalent in wealth,
which the recipient did not earn or
make any sacrifice whatever to entitle
him to receive it.
In the case of the horse and buggy
and cultivator, it is impossible tor the
borrower to return the wealth he uses
as good as new therefore, he should
bear his proportionate share of its de
terioration. And such "interest" is
wholly justifiable. But in the case of
the coined money, the lender suffers
no loss whatever; and such "interest"
is usurious and wholly indefensible
from the standpoint of justice Asso
ciate Editor.) . "
Toledo's Mayor.
Cincinnati, O., July 17, 1904. At the
Vine Street Congregational church
Jones. Mr. Bigelow said in part:
With the death of Mayor Jones, the
this morning, the pastor, Herbert S.
Bigelow, spoke on the ideals of Mayor
most unique feature in American poli
tics has passed away.
Mark Hanna and Sam Jones. In
these two personalities were summed
up the opposing forces of the age. The
golden rule or the rule of gold.
On Ohio soil were produced these
masterful spirits; the one believing
in the supremacy of money and or
ganization; the other believing in lov
ing justice and freedom; each achiev
ing in his way extraordinary success
and leaving upon his generation ' an
unmistakable impression. '
Politics and business; in this -dual
kingdom Hanna reigned. In statecraft
and in commerce, Hanna's god was
Jones' devil. A sharper contrast were
scarcely possible.
In politics, Hanna was the boss and
Jones the bolter, each without a peer.
Hanna demonstrated what money
could do with the aid of a subsidized
press and a powerful machine. Jones
showed the world how a single man,
when once he has the love and confi
dence of the people, can win victories
without money and in spite of ma
chines and in spite of papers.
After he had served three terms as
mayor, the politicians and the news
papers and the franchise grabbers and
the preachers joined hands and said:
"We will put an end to Jones."
There was but one English paper
in the city that would publish the
news thathe was again a candidate,
and thi3 notice was paid for at ad
vertising rates. It was a conspiracy
of silence. The newspaper readers
could not have learned from the pa
pers that a campaign was in prog
ress. Without a party, without a paper,
he made his appeal direct to the men
in the street. His son played the
cornet and he talked and sang with
the people his own homely songs. It
was not' a political campaign. He
asked no man for his vote. Rather
it was the preaching of a new and
strange evangel. The people knew
that the politicians were not worthy
to unloose the latchet of his shoes.
They heard his message gladly. He
came out of the contest with almost
as many votes as his throe opponents
combined.
The defenses of plutocracy are like
wooden blocks before any man who
conies upon the scenes at the psychol
ogical moment, commanding the con
lldence of the people. Men will arise
as the times ripen and what haa hap
pened in Toledo wllj happen In the
nation. The shout of the people will
khake the foundations of monopoly
and those new-made thrones will
i onio tumbling down.
There aro tnuny w ho ft i that Mayor
Jotu s lacked a definite phlloHophy and
liroRram, and that a more practical
man nilnht have turned his victories
to better account.
Hut to know the man wa to f'el
the nobleness of his alms and the In
tcrndty of his democratic nature. He
one? told ue that he ate with the men
at the shop as often as possible be
rauno he wWhcd to avoid being watted
upon h) the umatit In his home. He
would not Interfere with the ways of
his family, but lh II hou and the
servants r luittrlea which he could
not endure. Tbt tnlmle of the poor
were always on his conscience. More
and more his life became a vicarious
atonement for the social sins of the
world. Humanity's yoke he felt with
crushing weight. He always seemed
to me like a man whose heart was
breaking with the sorrows of the
race. It was broken at last and the
weary and heavy-laden have cause to
mourn.
The Open Shop,
Editor Independent: I have been
reading your paper of June SO and I
like much that J. H. Calderhead says.
Of course, he doesn't understand the
Colorado situation and we will have
to excuse him. The strike was a sym
pathetic strike and not justifiable.
Previous to the soldiers going there,
many non-union men were beaten up
by the union men and their lives were
in jeopardy. One man was called out
of his home and killed; then 13 non
union men were blown up.
Was it not time to act? Was not
the whole union more or less guilty?
They never protested or denounced
the assaults on non-union men; but
on the streets talked of driving them
out, that they were "scabs," and ought
to be killed, etc.
Justice should be the watchword and
there should be demanded by you and
every editor the right of any man,
union or non-union, to belong to a
union or not, and to labor for his daily
bread. And that there be an open
shop for one and all who want to
work.
The papers of the United States. It
seems to me, are doing more damage
than good in many cases by creating
strife between capital and labor. Cap
ital and labor should go arm in arm.
Preach and teach that.
: C. L. S'CHELLENGER.
Omaha, Neb. ,
(Mr. Schellenger's test seems good
theoretically, but its practical appli
cation would be something like
"The young lady of Niger
Who went out for a ride on a tiger."
"Capital and labor should go arm
in arm," says Mr. Schellenger. He is
sincere in that belief, as are thou
sands of others. It has grown up in
the past forty years. Yet in 1861 Abra
ham Lincoln said:
"Labor is prior to and independent
of capital. Capital is only the fruit
of labor, and could never have exist
ed if labor had not first existed. La
bor is the superior of capital, and de
serves much the higher consideration."
Why then should the superior be
asked to go "arm in arm" with the
inferior?
The Independent deprecates violence
and bloodshed, whether caused by la
borers or capitalists, but the "open
shop" question is one upon which
much can be said. Much is said about
the "rights" of the non-union man to
"labor for his daily bread," but the
rights of the union man seem to be
lost sight of. The- strike-breaker us
ually not always is a-man who is
quite willingjto reap where he has not
sown. He is willing to profit by the
higher wages which come from un
ionism, but unwilling to contribute
his share to bringing about such high
er wages. A man may have an un
doubted. Indefeasible right to be a
boor or bore, but that does not call
for admiration or respect for the man.
Associated Editop.)
Irrigated Lands
COLORADO
rVRMCR
WHEN
MRvrsr
Thousands of acrea of the most fer
tile mtfcar beet, potato, rraln and al
f.lfa lands In Colorado iltuated In
Uxan and WaihlnrU-n counties along
the lltirUncton R. H and I'nlon Pa
cific 11. It. Abundance of water,
lands under Irrigation and cultiva
-..-. t
tion. 25 and upward per acre, in
cluding water. One-fourth cash pay
ment required, balance in five annual
payments, interest at 6 per cent. Su
gar beet factory accessible to these
lands, same quality of soil as the
famous Greeley Valley where farms
are selling from $250 to $300 per acre.
The oldest and best water right in
Colorado.
This land Is selling rapidly. If you
want some, apply early. Write for
full particulars.
WOODS INVESTMENT CO., '
Sole Agents in -Eastern Nebraska.
Office, Lincoin Hotel, Lincoln. Neb.
ARTICLE OK INCORPORATION
'braika-Terisaa Compauy.
Article I
The name of this corporation shall be Nebraska-Tenses
Company, y .
Article II
The principal place of business of this cor
poration shall be Lincoln, Nebraska.
Article III
The general nature of the businefsto be car
ried on by this corporation shall be to buy
and sell real estat ', merchandise, cotton, cotton
seed, timber, lumber, wood, fruit, vegetables,
live stock; to buy and Bell or own and operate
factories, cotton gins, saw mills, sugar mills, oil
mills; to own, control and operate railroads,
tramways, water transportation lines and the
necessary or desirable equipmeut to operate
same; to borrow money and m ortgage real es
tate and personal property to secure payment
thereof.
Article IV
This corporation shall begin business when
these articles are filed in the office of the secre
tary of state of Nebraska, and shall continue
until dissolved bythe stockholdersrepresenting
a majority ol the stock.
Article V
The capital stock of this corporation shall
be one hundred thousand dollars, divided Into
one thousand t hares of the par value of one
hundred dollars each, of which thirty-two
thousand dollars is paid for by the transfer to
this corporation of a tract of land (approxi
mately six hundred acres) located within the
state of Louisiana on which there is still due ten
thouFand dollars, which amount of indebted
ness this corporation assumes in taking over the
property. The residue of the capital stock or
any portion thereof may be issued at such time
and under such condition as the board of di
rectors may determine. All paid up stock shall
be non-assessable.
Article VI
The highest amount of indebtedness to
which this corporation may at any time sub
ject itself shall not exceed two thirds of the paid
up capital stock. All or any part of said In
debtedness may be represented by notes or
bonds of this corporation, and may be secured
by mortgages on Its property.
Article VII
All the business of this corporation shall
be under the management and control of a
board of directors which shall consist of seven
members. The directors shall be elected by the
stockholders at the! r annual meeting and shall
serve one year and until their successors are
elected. Should a vacancy occur In the board
of directors same shall be filled by special meet
ing of stockholders. The board of directors
shall elect from their own number a president,
vice president, secretary and treasurer. The
secretary and treasurer may be one
person. - The board ofV directors may
appoint - Buch other officers and em
ployees as they may deem necessary. All con
veyances of real estate shall be signed and ac
knowledged by the president and secretary and
shall be attested by corporate seal.
Article VIII
The board of directors shall adopt such By
Laws rules and regulations for the more com
plete management and control of the affairs of
this corporation as shall in their judgement
seem best.
Article IX
These . articles may be amended at any an
nual or special meeting of thestocknolders by a
two thirds vote of the paid up stock.
O. A. ANDREWS
JAS. W. SHARPE
C. li. COLLIER
H. O. SMITH
D. E. DePUTRON
Signed
Write Us For
bargains in Watches, Diamonds, Jewelry,
Silverware, Cut Glass etc. Many goods
at cost to make room for fall goods.
v M.G.WOLFF.
139 5outn 13th Street,
Lincoln, Neb.
Note Mr. Wolff is a reliable and responsible
jeweler.- Watches and jewelry entrusted to Mm
will receive careful attention and be returned
safely. The Independent
THE TRUSTS! fc'sWi.a.'TB
10 cents and we will send you on trial for three
month! one of the best and most powerful anti
Trust papers published, and request 100 pub
lishers ct like reform papers to mall you sam
ple copies of their publications. Lots of inter
esting and instructive reading matter on Im
portant reform uekt!on4. Head our running
article on the Modern Pharisee (the Trust mag
nates and their Matellltea) and see how they
make religion a stepping stone to the accumu
lation of great wealth. The current number
shows up the joltltcal partnership between
Tammany Hall, the (fold bemocrary o'thc nt
and the Keputiliran party. fVnd NOW. Ad
UreM, IHU INLUSI klAL TRUitNL', P. O. POX
307. Coro, N. Y.
f
CATTLE
Slock mission.
SHEEP
Kye & Buchanan Co.,
ICl Til t MAIM, M tsKAftKA,
Ileftt )oib!A tmlce In all da
j artrnfntc Wrltn or wir ua for
titftrke U tr other Information.
Ionfjf tl latent- telt'hon Ziti.
Wbrn nrnlhu i lolling rttt to
Armstrong (luthlng Co, Lincoln, Nrtk
St ad. In thlt lua.