PAGE 2
Uth Hobradlitx Independent
FEBRUARY Iff, 1305
ting '"balances." or "cash deposits," to
: bo .substituted for the difference.
Second: That, notwithstanding the
reduced requirement as to cash on
hand, not a dollar of the difference
may be loaned or used at the place,
town or city; where each bank is lo
! cated, thus everywhere denying the
i same to local industry and enterprise.
Third: That even the two hundred
j and ninety banks in thirty-five "other
'reserve cities" aa above, though them
selves reserve agents for "country
banks," are permitted to deposit, in
banks of New York, Chicago or St
JLouis, one-half of their own 25 per
cent reserves.
x Fourth: That the law thus permits
Over one-half of all reserves outside of.
three central reserve cities, to be con
centrated as deposits, and three
fourths of such deposits to be loaned
Fifth: That 119,073,100, being the to-
tal deposited as 5 per cent redemption
funds in the United States treasury, is
by law included a3 part of . reserves
acftlnsr rlennsits. thmieh totally tin?
available therefor. v. -
Boston and Philadelphia national
banks, these not being "central re
serve cities," constantly deposit about
one-half of their reserves in New York
banks. Such deposits were on March
28, 1904: '
By Boston national banks . $19,026,305.79
By Philadelphia national
banks ..... . $22,871,080.53
All national banks must make sworn
reports of their condition at least five
times a year when called upon by the
comptroller of the currency. The vary
ing percentages of reserves required,
and permissions to substitute deposits
with banks in reserve cities in placo
of lawful money on hand, necessitated
classification by the comptroller as fol
lows: The central reserve cities, March, 28,
1904, had sixty banks.
These are the only bank3 compelled
to keep in lawful money on hand 25
per cent of their deposits. Under tho
permissions of the law, banks of these
three cities have become - "reserve
agents" or depositaries for a large pro
portion of the lawful money reserves,
required to be withheld from local loan
or use by 5,172 banks throughout the
United States.
Such reserve deposits are treated by
them as ordinary deposits, three
fourths of which may 1 be and are
loaned. : : .
Other, reserve cities, March 28, 1904,
had 290 hanks. ; . :,- tv '
Under section 5,192 these banks are
"reserve agents" or depositaries for a
large portion of the 15 per cent re
serves of 4,882 country banks; not
withstanding which, under section 5,-
195, they may deposit with banks in
tne aoove central reserve cities one-
half of their own 25 per cent reserves,
which they must withhold from local
loan or use. .-. , .
'Country banks, March 28, 1904, num
bered 4,882.
Under this head are included banks
of the following cities of 100,000 to
350,000 population, viz.: Buffalo, New
ark, N. J., Jersey City, Providence,
Rochester, Toledo, Allegheny, Worces
ter, Syracuse, New Haven, Paterson,
Fall River, Memphis and Scranton.
Also banks of 114 cities below 100,000
population and over 25,000, and banks
of all smaller cities and localities.
i These are all required to withhold,
from local loan or use, 15 per cent of
their deposits, as reserves, of which
three-fifths or 9 per cent (section 5192)
are, permitted to consist ct deposits or
"balances" with "reserve agents" In
any of the thirty-eight reserve cities.
Reserve deposits are made to obtain
Interest, paid thereon by bank3 in re
serve cities.- : --.-i',: ' :
Up to 1898 such deposits did not ex
ceed one hundred millions of dollars.
Their great increase since then is
b Very often acquired,
though generally inherited.
Bed hygiene, foul cir, impure
vatcr, ere among its causes.
It is called "the soil for
and where it is
dlovcd to remain tubercu
33 or consumption is
pretty euro to tcko root.
H-Scd'sSarsapariDa
Qcniovcs every trcco cf
ccrcfula. Get Hood's.
For tesdatockh of remarkable cures
CcnJ for Cook on Scrofula, No. 1.
C L Hood Co., Lowell, Mass.
shown from the comptroller's ab-
stracts, at the following dates, viz.:
septemDer zv, isy8..;...y4,34,ziu 64
reoruary 4, isay 123,796,173 15
September 7, 1899........ 154,514,691 64
February 13, lyoo ...153,813,717 93
September 5, 1900... 176,731,918 08
February 5, 1901......... 180,818,838 91
September 30, 1901. 216,763,488 34
February 25, 1902........ 222,487,652 70
September 15, 1902....... 253,515,055 97
February 6, 1903 ....225,716,444 24 The council passed an ordinance pro
September 9, 1903 ..227,780,147 03 viding for the submission of the ques-
March 28, 1904. , .234,982,831 60
The casual reader should not con-
fuse reserve deposits by national
banks with their business deposits in
the same institution; reserve deposits
can not be used for ordinary business
purposea. The amount "Due from ap-
proved reserve agents," in central re-
serve cities, March 28, 1904, to 290
banks in "other reserve cities" was
$183,209,720.68 or business balances of
$62,595,121.31, In excess of $120,614,-
599.37, their reserve deposits as above
shown. . -," .
Reserves of lawful money should
have been kept intact J?y every bank
for the only justifiable purpose of law
In compelling money to be withheld
as reserves from public use protection
of depositors. - .
Better no compulsory reserves what-
ever than their wrongful distribution
and use, and disbursement at favored
localities.
And is it not a grave constitutional
question whether money denied by na-
tional law to general nublic use. for
bank reserves, can be permitted bv law
to be afterwards supplied in great vol-
ume for use at a few localities only?
what Is it but creation thereby of a
fostering parent of trusts and false
capitalizations, s and a basic cause for
unjust distribution of wealth?
The nermlssinnH nr liaea maAa rf
hem have converted the plain demand
of the law that banks "shall at all
times have on hand," their reserves,
"in lawful money of the United
States," to its very opposite, and have
made the entire national banking sys-
tem a tender for money supply to
three central reserve cities, and espe-J
ciany to wan street ana tne New York
stock exchange,
Th Quaker Reign of Gran?.,
The friends of the Standard Oil com
pany, the wild-cat speculators of Wall
street and the apologists for corrupt
political and business methods in mod-
era mo nave enaeavorea to break the
7.1 t xjanovuo ii ui cotton andtnereby give the specula
high finance at the present time, on tors such a little handful of cotton to
the grounds that he has been a part of export, and speculate on at home, that
the same system which he now so tw wm nut n thow) nm - ti,
vigorously assails. But no such charge
yXrJA.' etc.. and give the speculators
MVto-nHw i oVoi a BVi ,
high standing in social and public life
public life
r,H 7n Z V"r & "
king to
papers give a vivid and compelling
story of the rise and onward march of
corruption and political debauchery un-
uer tne uameron-Quay machine and
aided by the powerful corrjoration3
which have through the machinations
of unscrupulous nolitiriana ruled Po.
svlvania'as absolutely aa an ant
rules his realm. The February "Arena
contains the second paper of this not-
r.v1 nn.nn . t .j i j x 1
auio ociica. it la UCVUICU CUienV LO I
tne career of tne late Matthew Stanley 1Bl OI sieei-irusi toDDyist, or nirea
Quay and deals with the sprouting and Politicians, and of a hundred and one
spreading of corruption in the Key- other illegal corporations and com
stone state. It contains ten portraits bines. This, boys, is what drives down
of leading statesmen and politicians
of the period described.
Another paper in the February
'Arena" of special Interest to Amerl-
ca's millions is the amazing exposure
of the Armour Refrigerator-Car Trust
conspiracy. Many fact3 dealt with in
this contribution are so astounding as
to be almost incredible; yet the most
amazing of these confessions and revel-
ations are those recently brought out
under oath at the investigation con-
ducted by the interstate, commerce
commission. The evidence thus ad-
duced Is further emphasized and illus-
trated by the testimony of other prom-
inent citizens and by the citation of
special cases making the whole expos-
ure one of the "most appalling 'disclos
ures of oppression and moral turn!
tude that has yet been brought to the
attention of the American people.
An Unique Municipal Referendum I
Perhaps the most noteworthy apoH-
cation of the principle of Direct Legis- of wearing apparel for the eighty init
iation in California during the last lion people. These amounts are re
election wa3 in tbe""city of Oakland, sardless-f the .amount it would take
This city, is the county seat of Alamecia
county, one of the wealthiest counties Ing, etc.; that the people would buy
In the state. It has a population of If they were able to afford-them; re
about 80,000. It has long suffered from gardless of the eighty 1j one hundred
an Insufficient and an impure water
supply, furnished by a private corpora-
tion. The present mayor grasDed the
difficulty energetically, and solicited
and received proposals for a water sup-
ply to be purchased by the city. The
board of councilmen of the city an
pointed a committee composed of the
mayor and other prominent citizens
which considered the various proposals,
eliminated all but two and recommend-
ed that those two be submitted to pop-
ular vote. Up to that time no one
knew what the public . feeling was.
tion to the voters. One proposition in
volved the obtaining of water from two
certain creeks within the county lim-
its; the other, the utilizing of a sup-
posed artesian supply,
A statement embodying the merits of
the two propositions was made in cir
cular form. This circular, together
with an addressed two-cent envelope
and a voting card, was enclosed in a
one-cent envelope and sent to each one
of the 17,000 voters of the city. The
voting card provided for either one of
three votes "yes" to either one of the
propositions, or "no" against both The
directions required the voter to sign
his name and residence.
Replies were received from over 7000.
Ot these over 500 voted In favor of the
i totaled $833
favor of the arteslon, and the remain
der scattering. The cost of the vote
totalled $833.
The councilman now know where
they stand, so far as' the will of' the
people is concerned. Steps will be
taKen immediately for a vote on bonds
for the purchase and development of
tne supply, ana it i3 believed that it
wm carry y a are majority,
Not Too Much Cotto.n
. Editor Independent: Oh! what pros
perous times we farmers are going to
have now that the people are spend
InS a few million dollars in the west
to increase the production of' cotton
and a few million dollars in the south
to decrease the cotton nroduction. and
with a few million dollars tied up in
retired cotton and with cotton and cot-
ton goods practically cornered by the
cotton exchange the Wall street man-
ipulatore and with hundreds and
thousands of laborers out of work, out
of bread to eat, out of clothes to wear,
out of bedding to sleep on, out of
spirits, out of courage, with all neces
Q1 ti o3 nf 1 fck rfYr-nmd tit44-Vi o fnnr -nn
f0ois to cry over-production we are
going to have prosperous times. We
are coin tr to decrease nnr am-eatm nt
we are going to increase the acreage of
sucn a big handful that they will de
i. v t
of cotton, and then we will cry under
repeat itself.
Just a word now about over-pro
ductlon. There is no over-production
of cotton, and never was and never
will be. There is no over-production
of any necessity of life and don't fear,
boys, for there never will be. But ret
me tell you what we have got an over
production of, viz.,. of railroad lobby-
Ist of beef trust lobbyist, of cotton ex-
rhUTtsra Inhhviat nfS.tanrtz.TA (1)1 1-Vi'Kit
""J -v, v vu ivuuj-
the prices of your products, but real
over-production never doss. Give us a
real government of "equal rights to
all and . special privileges to none."
Take the yoke of oppression off of
the real reople and you will see what
we 'can - consume. Each individual
would not consume as much per an-
num as Mrs. Astor and others of her
stripe and I think she and her stripe
would soon decrea se their ennsnmn-
tion, but, boys, wouldn't we increase
our consumption tremenduously?
Talk about twelve million bales of
cotton being an over-production for
eighty million people? Regardless of
would take, at least, fifty million bales
of cotton to supply the homes of the
United States with - the necessary,
cxnount of cotton goods to make the
home comfortable and tidy.'ln the way
of heddincs hanriii?s coverine-a etc
It would take another forty million
bales to furnish the necessary amoant
to furnish the necessary rooinsr. sack-
million bales it would take to put the
homes and people of the United States
In Immediate, ennd Kh fln A sn far aa
Nervott
sness.
Re&.d my of fer l full dollar's worth of
my Remedy free to try wlthovit
deposit, or risk, or promise to pay.
Nervousness, fretfulsess, restlessness, Bleeps
lessness, Irritability air are the ontward signs
of Inward nerve disturbance. The Uult is not
with the nerves which give you warning not
with the nervea which enable you to left, to
walk, to talk, to think, to see. lint the inside
nerves, the automatic power nerves these are
the nerves that work wears out and worry
breaki down. - - N
i have not room here to explain how these
tender, tiny nerves control and operate the
stomach, the heart, the kidneys, the liver. How
excesses and strains and oveiindulgence destroy
their delicate fibers. How through a bond of
sympathy, weakness in one center is conveyed
to each of the other centers. How this same
bond of smnathv nroduces the outward sitrns
of nervousness which shonld warn us ot the
trouble within. 1 have not room to explain
how these nerves mav be reached and strensth-
ened and vitalized and made well by a remedy
I spent thirty Tears in perfectingnow known
by druggists evwy where as Dr. Shoop's Restora
tive. I have not room to explain how thie
remedy, by removing the cause,, puts a certain
end to all forms ot nervousness, Inward and out
ward, including fretfulness, restlessness, sleep -lessness,
irritability. All of these things are
fully explained la the book I will send vou
when you write. ,
In more than a million homes mv remedv is
known and relied upon. Yet yon may not have
heard of it. So I make this offer to you, a
stranger, that every possible excuse for doubt
may be removed. Send no money make no
promise take no risk. Simply write and ask.
It you have never tried my remedy. I will send
you an order on your druggist for a full dollar
ooiue not a sample, but the regular standard
bottle he keens constantly on his shelves. Tha
druggist will require no conditions. He will
accept my order as cheerfully as though your
dollar lay before him. He will send the bill
tome. . -
Will you accept this opportunity to learn at.
my expense absolutely how to be rid torever
of all forms of nervousness to be rid not only
of the trouble but of the verv eause which nro
ducedit? Write today.
For a free order for Book Ion DvsneDsia
a full dollar bottle you Book 2 on the Heart
must address Dr. Book 3 on the Kidneys
Shoop. Box 5910. Ka- Book 4 for Women
cine, Wis. State which Book 5 tor Men
book yon want Book 6 on .Rheumatism
Mild cases are often cured bv a in?p hottv.
For tale at forty thousand drug stores.
cotton materials are; concerned, ws
would make an average of an annual
consumption of onerfourth of a bale
of cotton for every individual in the
United States. Thig would be an an
nuar consumption of twenty million
bales, absolutely regardless of any ex
ports or overplusses. If any one doubts
these statements, let them go to an
average sized family and home and
put everything in the way of cotton
materials in all of its forms that is
necessary to make home and people
comfortable, tidy and convenient, then
go to another homes among the:mid
dle and lower classes of people and
make an estimate of the difference of
the amount of cotton materials they
really have and the amount used in
the well-prepared home and they will
see that these estimates are not far
from right. At last they are not over
estimated. No boys, producing much
of the necessaries of life nyer makes
a people grow poor. Tha trouble is
on the other end. Correct your gov
ernment and everything of much im
portance will bi corrected by it. Other
things will grow correct.
M. F. SIMPSON.
Dixie, Ga.
LIN8EED Oil.
WHITE LEAD
AND ZINC
PA I NT
Guaranteed for five years.
This paint will cover more surface, last
longer and look better than any other
paint on the market Written guarantee
to every customer. We can save you
money. - ; Investigate. Beautiful color
cards and price list sent free on request.
Nebraska Paint and Lead Co.
305-309 O Street, Lincoln, Nebf.
DIAMONDS!
- .! 1 1
We can sell you a diamond for 110.00
or for $300.00, and at all prices between.
Let us know your wants and we will
gladly serve you. i ?
n. G. WOLFF,
130 So. 13th St : , " : Lincoln, Nkb
FARMS For Sale
miuiw Jm MULHALL, loux City, Iowa.