BALANCE OF TRADE.
Some thoughtless people are lulled
Into apathy by talk about the balance
of trade in our favor. It never occurs
to them to inquire what becomes of it
and who gets the benefit. It is true
that for a number of years there has
been a large excess a very large ex
cess of exports over imports of mer
chandise. Bankers , men of affairs , men
at the head of large * financial institu
tions , who assume a superior knowl
edge about business and finance , know
so little of the accounts kept of the
aggregate business of the country that
they tell us this balance of trade is evi
dence of prosperity. They do not stop
to inquire what we have received for
the large amount we have sold and ex
ported each year since 1873. In the five
years ending Dec. 31 , 1897 , our exports
of merchandise exceeded our imports
by $953,193,323. Was this a sale ? Did
we receive anything for it ? Was it a
source of income ? It was not a sale.
It was an expense. It was a veritable
outlay from which we have not derived
one dollar of income. Will some of the
great financiers who express them
selves so learnedly and confidently
about balance of trade tell us what we
have received ? We did not receive
other merchandise , for this vast
amount is not all we sent away , but
the excess of what we sent away over
all that we received. Did we get gold
for it ? Did we add to the stock of this
money metal by this large exportation
of our products ? Is this where the
New York banks secured an increase
of their gold holdings to an amount of
$4,000,000 per month during the last
twenty months ? Such cannot be the
case , because during the same five
years AVO sent out of the country ( ex
ported ) $379,255,202 of gold , and this
was $111,993,963 more than we re
ceived ( imported ) . During the five
years , instead of adding to our income
in gold , we had an outlay , an actual
expense , of $111,993,963 paid in gold , in
addition to the merchandise exported.
Did we get silver for this merchandise
and for gold , together amounting to
$1,065,187,186 ? Have the other nations
of this earth been dumping their silver
on us in exchange for our products and
ft our gold ? Is this where all the silver
came from that has so alarmed our
bankers , and with which the goldites
tell us we are in grave danger of being
overwhelmed ? Have we had this enor
mous importation of silver , and is this
what has made it so cheap ? Alas , no !
This cannot be true , because the Treas
ury Department reports that in the
same five years we sent out ( exported )
$270,334,693 worth of silver , and this
was $146,690,906 more than we reNo -
ceived ( imported ) .
No w and Next Year.
Two years of President McKinley's
iidministration have passed , and two
more are ahead , although the decision
as to his successor will come up next
% year. He was elected , as we all know
f now , on a false cry , which cannot be
raised again with the same effect , al
though the political syndicate back of
it will try to win on it once more.
The issue on which Bryan was de
feated is still strong with a very large
proportion of the people. The war
with Spain , and the unexpected devel
opment of the imperial colonial posses
sions idea , in consequence of Admiral
Dewey'-s spectacular victory , has con
fronted the nation with entirely new
problems , which may lead to a realign
ment of parties , in which the McKinley
second-term syndicate is liable to lose , It
even within the Republican organiza
tion through which it is working.
The McKinley administration was
originally not in favor of going to the
rescue of Cuba , because it feared the of
effect of the piling up of a new debt
for the people to pay. It became con
vinced after a while , however , that it
had better take the risk under the stim
ulus of the contractors anxious to fur
nish army supplies. Mark Hanna was
opposed to going to war with Spain
until he saw that the iron industry , in is
which he is largely interested , and the
Western beef industry would be large
ly benefited thereby.
The outlook is , of course , that the
expansionists will have their own way it
in the Republican -party. That McKin
ley will be renominated is , however ,
more doubtful. The syndicate which
forced him to the front in 1896 , and
succeeded in electing .him , is handicap
ped by Alger , one of its most wealthy
members. His mismanagement of the
Var Department has thrown discredit
on all , and a new man is most likely to
be forced on them. His name may be
Roosevelt or another not yet much the
thought of , but it is realized that the first
President of to-day may Ji&ve to be
dropped. New York News.
ing
Decadent Republican Party.
The prophecy made by Senator Hoar
that the decadence of the American re
public will date from the .administra-
jtiou of President McKinley would S
better and be much truer if it has
read : The decadence of the .Republican lucl
party will date from the administra Jeff
tion of President McKinley. There is Sec
no doubt about it , the Republican par will
ty is hopelessly split. Senator Hoar ing
Jias mor followers than they would Mel
/ike to a < hit. Boston Traveler. Raj
of Papsuckers.
' The extravagance of the Congress . If
which has just closed is far beyond the name
record , Administration journals defend as. i
this on the ground thai the country is AIg
growing , and that the Federal expenses Times.
-rr srr
grow with it. This is a radically fr.lse
proposition. The Federal establish
ment is growing out of all proportion
to the growth of the country. There is
a constant establishment of new and
useless offices and commissions , an an
nual robbery of vast dimensions in pub
lic buildings , an unnatural growth and
encouragement of the Federal ju
diciary , and a tendency in Federal tax
ation to promote private interests
rather than keep sufficient funds in the
public treasury. Cincinnati Enquirer.
Republican Prospects.
Republican politicians will not admit
that the outlook for their party in 1900
is not of the most rosy hue. This is
natural and is the usual thing , but
there are many reasons to support the
theory that Republican politicians arc
whistling to keep their courage up.
The army scandals have weakened
greatly the standing of the administra
tiou before the people. Alger's bluu-
ders and venality have proved disas-
trous and the stubborn stupidifj' of
Alger , who refuses to resign "under
fire , " Is going to estrange many voters
\\lio would otherwise be inclined to
support McKiuley.
But army scandals are not the only
burdens which the administration musi
bear. The extravagance of the" Re
publican Congress , which has broken
all records by passing appropriation
bills aggregating a billion and a half
of dollars , will work disaster to the Re
publicans. And most injurious of all
will prove the attitude of the adminis
tration in fostering and promoting
trusts. Nearly four billions of dollars
are represented in the capital of the
combines already formed , and new
trusts are being created each day.
Republicans did not believe in 1S73
that they would be overwhelmingly
routed in 1874. Who in 1891 or in the
early months of 1892 could have sus
pected that the Democratic party , on a
free trade platform , was on the eve of
a great triumph over the party of pro
tection and prosperity ? There is going
to be a political revolution in 1900 , and
the reign of Hanna , McKiuley & Co.
will be ended. Chicago Democrat.
Impudent Advice.
Why are the gold bug papers so anx
ious to see the Democratic party aban
don the free silver platform ? The
above question is frequently asked by
Democratic leaders of Republican
papers. And no wonder , for every Re
publican organ from Maine to Califor
nia is impudently offering to furnish
the Democratic party an issue to sup
plant bimetallism. Of course they want
us to win In 1900. So they would have
us believe. But the truth of the matter
is that they are afraid to meet us again
on the financial issue. All their lying
"arguments" against a financial sys
tem that will restore equality between
the debtor and the creditor classes
have been exhausted , while arguments
of the bimetallists have been strength-
ened by the course of events since 189G.
If the Democrats stick to the platform p
of 1896 , and there is no doubt of it ,
Republican defeat is a certainty. To
change the issue would be to offer the
Republican party a new lease of life.
Administration War on Reed.
There is a strong movement on foot
among Republicans to change the rules Hn
the national House of Representa
tives and deprive the Speaker of the lat
arbitrary power which has been exer
cised by Mr. Reed. There is no question
to where this movement originates. pic
conies from the administration , No
which Mr. Reed has deliberately the
thwarted on several occasions , and Wa
which he has most grievously offended difl
his refusal to recognize as members the
the House gentlemen who hold com
missions from the President Indian the
apolis Sentinel. val
mis
Reed in McKinley's Way. din
The administration can formulate fro
policies , but an able , aggressive and sar
courageous man like Reed in the Speak prh
' chair can defeat.them , and that he WOT
willing to take the responsibility has
been fully demonstrated the last three Inte
months. The first session of the next maj
Congress will be confined to President- the
making and unmaking exclusively , and put
will be a great disadvantage to the land
McKinley-Alger outfit , aiming for a whi
second term , to have Tom Reed as the ven
chief mogul of Congress. St. Louis vey
Republic. and
oft
Assuming the Responsibility. but
Had McKinley promptly dismissed gave
Alger from his cabinet
when the peer
flagrant jobbery , trickery , favoritism , peeri
machine politics and incompetency of 18fc
head of the War Department were most
exposed to the public view , his tri in
umphant renomination by his party edc
would have been inevitable. By retain give
Alger in office the President has listen
tacitly assumed a share of the respon story
sibility. St. Louis Republic. read
any
The Story and Why It Is Told. of ;
Some kind friend of General Miles recc
raked up the story that he was the the
luckless wight who happened to put was
Davis in irons on orders from the late
lateI
Secretary of War. This , it is thought , " I
prevent General Miles from steal priv
any Southern delegates away from Infa
McKinley and Alger next year. Grand was ,
Rapids Democrat. fVhen
pled
Not a Chaiisrc for the Better. , llcai
Secretary Alger is to be allowed to Com
bis the President
successor might seve :
well keep Jiim. Nobody wants an wer
Algerian indorsement Washington they
. In a
THE FIELD OH1 BATTLE
INCIDENTS AND ANECDOTES OF
THE WAR.
The Veterans of the Rebellion Tell of
Whistlinu Bullets , Bright Bayonets ,
Bursting Bombs , Bloody Battles ,
Camp Firet Festive Bass , Etc. , Etc.
I
WONDER , " said
the Colonel , "how
many of the soldiers
of the Union * army
who edited and
printed camp papers
ever became newspaper -
paper men. Nearly
every regiment had
a number of print
ers , and as many
) young fellows han-
dv with the nen. and
jj. was the rule when the Confederates
_ v
were driven out , of any town for the
printers and writers to take possession
of , the printing office or job oflice and
issue a little Union paper. Even if we
occupied the town for only a few days
the boys managed to get out at least
one edition of a soldier's paper.
'Some of these bulletins of news or
quarter-sheet ] papers were as queer
specimens of journalism as were ever
published anywhere. In not a few
cases they were full of regimental and
brigade news , spiced with jokes and
stories current in camp. Occasionally
a paper started by soldiers became well
established as the Union journal of the
town or county , and some of them are
Still published under the names given
by the soldiers who startled them.
"When the Union troops occupied
Clarksville , Tenn. , the always enterpris
ing printers of the brigade found a
printing office that had been left in
pretty good shape. They waited upon
the brigade commander , explained the
situation , and asked him to give them
an editor. There was on Gen. Bruce's
staff a young man whose only expe
rience in newspaper work had been in
writing letters to his home papers. This
young fellow was assigned to the edi
torship of the Clarksville Bulletin , a
little four-page , SxlO-inch paper. The
young man had the newspaper instinct ,
and made so good a paper that the cir
culation extended to other brigades.
"He organized a corps of correspond
ents in the different regiments and
brigades of the division , and published
every week the orders from the brigade
and regimental headquarters , the gos
sip about camp , letters from detached
regiments or companies , and neighbor
hood news. The paper attracted the at
tention of George D. Prentice of the
Louisville Journal , and before the war
closed the soldier editor of the Bulletin
was a member of the Journal's staff.
From there he went to New York to
become the editor of a leading sporting
paper. In rummaging through the gar
ret the other day I found a complete
file of the Clarksville Bulletin , and I
wondered if the editor cared as much
for the papers as the soldier who carried -
ried them home in his knapsack. " to
"I noticed the other day , " said the
Major , "that somebody sneered at Hen
ry Watterson as the editor of a camp his
paper ] , and declared that Watterson .
tus
ought { not to be grouped with the army ,
correspondents who made great repu- .
tations. Watterson edited the only
Confederate . camp paper that had good
circulation . in both armies. He and an
other young fellow started the Rebel
and while they were publishing it in the if
field near Chattanooga it was smugglee
through the Union lines and was read the
with interest. It was a more preten tie
tious paper than the Clarksville Bulle
; ; contained more news , and had some
journalistic features that were adoptee the
later < by large newspapers. It
"When Gen. Bragg discovered that miu
the Rebel was being exchanged at the
picket lines for the Nashville and the
Northern : papers he used it to mislead
Union generals. At his instigation in
Watterson concocted dispatches from
different points in the South , which on as
their face gave away valuable information they
'
tioi to the enemy. As a matter of fact ,
these dispatches gave no information of
value , and were constructed simply to
mislead Gen. Rosecrans and his subor
a
dinates. After Gen. Bragg was driven ed
from : Missionary Ridge the Rebel was
putl
sarried southward , but the old game of "
"old
printing dispatches to mislead had been
sonal
-M
worn threadbare.
"But : ] the Rebel was a saucy , newsy ,
gubj
Interesting paper , and I know a good ber
many old comrades who have many of
issues printed in 1863. There was Reg
published by the Union troops at Cleve som
, Tenn. , another bright army paper , ter
which was given to stories of army ad ed
ventures , skillfully constructed to con cam
one meaning to the soldiers in camp spec
another to the world at large. Some betv
these narrowly escaped the indecent , duty
the exchange editors of the North Miss
them wide circulation without sus men
pecting their true character. had
"While I was home on furlough in meat
. I was horrified to see one of the were
scandalous of these stories printed At
the leading daily in the city. I call one
on the dignified editor to explain and 7 aE
him warning , but he declined to in vi
to me. He insisted that the army and
was one of the best he had ever service
, and that the man who could see dressed
anything wrong about it was not much time
a man. Meeting with this sort of a On
reception , I retired , and the story went bus ,
rounds for weeks and weeks , and 1861
published in leading city dailies as in tl
as April , 1865. "
mishap
"In 1862 , " said the Captain , "I was er n
private in Company C , Tenth Maine He
nfantry , stationed at Winchester , and radei
detailed as printer for Gen. Meade. his
( the Rebs left Winchester they
severed
the outfit of the Winchester Repub- and
, but left all the material there. "
"Jack.
Company 0 had among its members
everal printer ) ? , and when any of them An
< punished far running guard , etc. , Livei
were sent up to the office to set pi. 20,00
short time we had the oflice In rim- passe
nlng order , and issued one number of
the paper on the 19th of ii'ay. On the
morning of the 25th Jnokson swooped
down upon us , and I was unlucky
enough to be caught in the office by a
squad of the Fifth Louisiana.
"Before they discovered me , however ,
I had pulled two pages of type from the
imposing stone to the floor , and by mak
ing good use of a shovel and a couple of
column rules I made the types unfit for
further use in the art preservative. I
then took all the matter on galleys
( about fourteen columns ) and dumped
it into the ink barrel , which-contained
about six or eight inches of thin news
ink. Next I took the impression-bolt
from the hand press and threw it from
the back window. All I had to do now
was to tip the cases of type upside
down anel the job was complete. By
the time ) had finished there came
heavy pouinling on the door and I was
wanted.-r-Chicago Inter Ocean.
Tlie Battle's First Dead.
There is a feeling that cannot be
described which conies over one when
he sees for the first time a soldier who
has been killed in battle , and it mat-
until it almost overcomes one.
Thoughts of home , of friends , of the
past life , pass rapidly through the mind
and a sense of dread that it may come
our turn next takes a fast hold upon
one's thoughts.
In my four years of hard service I
saw many hundreds of dead on the
field , saw my own bosom friends and
comrades fall at my side , but there was
not that fear or awful feeling of some
thing impossible to describe that I ex
perienced at the sight of the first sol-
dier I had seen who had been killed in
battle.
In February , 1862 , the Thirty-second
Indiana , on picket duty across Green
River at Mumfordsville , Ky. , was furl-
ously attacked by a body of Terry's
Texas Rangers and support of infantry -
fantry , and a number of the gallant
gunners fell to rise no more , and with
them a greater number of Texans
fought their last fight.
The long roll soon had the brigade
moving to support. The regiment , era
a portion of it to which the writer be-
longed , quickly crossed the river and
hastened to the support of the Thirty-
second. The battle had ended and we
relieved the Thirty-second , who had
been for some time hotly engaged. Our
company was pushed out well in advance -
vance where the battle opened and
where a number of dead were found.
We halted on a little knoll barren of
timber , a rocky point covered with cacT
tus , and were ordered to lie down. '
This was impossible on account of the
sharp thorns of the cactus , which completely -
pletely covered the ground or rocks ,
Within .five feet of where we halted ( so
close that the writer could have almost .
touched them ) lay a Texan Ranger and
his horse , both dead and weltering in y
their blood which had run in little riv-
ulets down the rocky slope. It seemed E
that the man had not been instantly
of
killed and in his terrible anguish and "
pain had struggled and rolled from side
side i until his
face and hands were
covered with the thorns of the cactus.
His eyes were wide open and staring ,
hands clutched into the thorny cac- w
' and blood covered both face and
hands. Horrors ! Could anything have
been more awful ? , .
I was a boy , scarce past 17 , 'and un-
used to such scenes. Thousands of
other boys saw such sights , and they ,
living , cannot describe that awful WJ
<
terror that almost unmanned them at f !
sight of the first dead slain in bat- _
, and the scene and the thoughts will
remain with them through life.
f
Is it any wonder that the soldier of
civil war turns gray early in life ? mo
is more wonder that his nerves and
mind are not broken by the sight of of p
such ] awful scenes as befell his lot on „
field of battle. And yet we have J1gU
critics who tell us there are no terrors
cal
c
war. Those who so believe have s'trc
never witnessed even one such scene
jj
has been described , and God grant
never may. J. T. Knowland , in
American Tribune.
of
"Jack. " stre
It may not be out of place to devote byi
little time and space to the four-foot "
heroes ] who so valiantly aided in he
putting down the rebellion , while the as
boys" are chronicling their personal ring
reminiscences of '
. 1861-65. "
Among the ungazotted heroes is the SJO-H
subject of this sketch , who was a mem "
of Company G , Thirty-sixth Illinois many
Regiment. "Jack" was recruited in a app
somewhat mysterious manner ( no mat pany.
how ] ) in Rolla , Mo. , and was adopt and
by the company , to which he be the
devoutly attached. He was a good could
specimen of the canine species , a cross and
between a bull and a mastiff. "Jack's" for
was in catching hogs ( the regular fess
Missouri razor backs the old boys re "
member so well ) , and as a forager he ho ,
not an equal. Whenever fresh blesi
was wanting "Jack's" services "P
< indispensable in securing it. "what
the battle of Pea Ridge , Mo. , in
of the three days' fights , March 6 , ing ;
and 8 , 1862 , he unfortunately came now
violent collision with a rebel bullet , am
for some time was disabled for
as a forager. His wounds were
by his comrades , and in a short Di
he reported for duty again. France
the trip to Cairo , 111. , from Colum vented
Ky. , by steamer , in September , spring
, , a misfortune befell Company G a wa
the loss of "Jack , " who , by some M. d
, was either drowned or by oth in P
means : came to an untimely decided
was never known to fall his com and
in the hour of need , and when
connection with the regiment was Th
the men of Company G sadly
inauj
sincerely i bewailed the fate of poor
" tota
.
sonages.
Atlantic liner on each trip from fund
Liverpool to New York carries over
eggs , which are consumed by its In
passengers.
. lave
RFOGRAPHICAL SONGS.
One -T'c i.cnt in Popular Melodies
Seemto Appeal to Public Taste.
The trend of the professional song
writers just now is geographical , says
ihe New York Sun. It is thought fitting -
ting , if not , indeed , indispensable , for
a popular song to have a geographical
background. "Louisiana Lou" has at
tained success on both sides of the At-
lautic , and "The Little Alabama Coon"
is not very far behind it in many of
the qualities which contribute to a suc
cessful vogue. "Down in Old Tennes
see" has had as much , or nearly as
much , success in its way as "Bred in
Old Kentucky , " and "The Georgia
Camp Meeting" has found admirers
among many who have not had occa
sion to applaud a song of which the
Cracker State was the theme since
" " first stirred
"Marching Through Georgia"
red the patriotic sensibilities of music-
loving Americans. "Down In Sunny
Virginia" has recently come into some
celebrity , following , though a good dis
tance off , the always popular "Mary
land , My Maryland. " Everyone has
heard of "The Old Kentucky Home , "
of which the late Eugene Field once
said that it was made up of five acres
and a mortgage.
Many of those who are familiar with
the subjects of these songs incline , per
haps , to the belief that the Southern
States furnish for them the most desir
able theme , and that other States have
been or may be neglected by the song
writers. That Js a mistake , for geographical
graphical divisions are of very little
account to song writers when public
applause is the object of their.efforts.
"Ii My Old New Hamsphire Home"
has recently attained some popularity ,
and a song having for its subject the
Boston Back Bay , or the elms of New
Haven , or the pier at Narragansett ,
cannot be far off. For a number of
years a very popular song in the vaude
ville houses has been "In Kansas , "
which is descriptive of the unusual size
.
of fruits and flowers , the unusual abundance
,
dance of cereal crops and the exalted
standard . of social life and citizenship
in the Sunflower State. More recently
some popularity has been attained by
a , waltz song , "Little Miss Ida from
Idaho , " and nearly every one has heard
sung , whistled , played on hand organs
or in phonographs "On the Banks of
the Wabash" in Indiana.
Up to date the Empire State of New
York has been a little behind some oth
er States in respect to songs with geographical
graphical themes , but this deficiency
may be accounted for , perhaps , on the
ground that the superior importance of
New York makes possible such minor
, .
divisions as would be thought unneces
sary or indefensible elsewhere. There
are two cities of the first class in New
York , and each of them has in the pop
ular estimate its own appropriate top
ical song. "My Best Girl's a New-
Yorker" , is sufficiently descriptive of
what one city of the first class in the
Empire , State can do in the line of pop
ular song making , and the other city
f the first class has a lyric favorite ,
"Put } Me Off at Buffalo. " By the selec of
tion of a geographical subject of a
song the author , or authoress ( for
many . popular songs nowadays are
.
written by women ) , is assured of the is
advantage of a clear understanding of
the locale , so to speak , of the narra
tive. , ( Moreover , there is a decided par
tiality for such songs , which dates lic
back , perhaps , to the first popular ac
ceptance of "Way Down Upon the Su-
: .
wanee River. " Since then the gee
el
. .
graphical titles have always been pop
ular ] , but they were never before so
popular as they have been recently.
The number of such geographical songs
further includes "Dat Gal from Balti
more ) , " "Elsie from Chelsea , " "On the
Banks of the Ohio" and "In the Old .test
Palmetto State. " In the popular view ClUi
intelligent and appreciative song inoi
patrons "The Streets of Cairo" is not
usually included among the geographi cre
ll songs of the day. The particular moi
street of Cairo referred to was in the pric
Midway of the Chicago fair. new
Talma ami Napoleon.
Talma : was standing at a corner , one
an immense crowd that thronged the was
streets of Paris to see Napoleon drive mOt ,
in state. py
"Do you see that little man there ? " .
said to a friend at his side , pointing ing
he : spoke to the Emperor in his car find
riage. prog
"Yes , " replied his companion. "What But
signifies that ? " cred
"Well , answered Talma , "not so J
years ago that same individual
applied ] to me for a position in rny comtl only
tl
; . He was ambitious to be an actor ,
ment
wished me to teach him the art of
stage. I discouraged him , as I
not see that he had anj' ability , Ev
told him that there was no hope and'
any j other than a genius in my pro ersti
fession. arel
'Is there hope in any calling- ' asked laws
'for the unfortunate plodder not that
blessed with ability ? ' " oper
"Well , " said Talma's companion ard
of that ? " crus
Nothing , " replied the actor "noth itate
only that unfortunate little man is may
Emperor of France , and I well , I hasten
just j plain Talma. "
Horseless Carriages. AE
During the reign of Louis XV. of rersal
a horseless carriage was in signs
by one Yaucanson realr
, run by a
that was wound up like that in
watch. The Duke de Mortemart and Tin
de Lauzum rode in it round a court noney
Paris , but the Academy of Sciences proof
that it could not be tolerated , their :
the thing was dropped. iredits
Church Insurance. pay
idence
Methodist church in
Canada is
banki >
inaugurating a fire insurance business ment
take risks only on churches and
par 1893
; . The profits will go to the notes
for superannuated ministers. trial
Buried in Westminster. try T
Westminster Abbey 1 176 persons versa
been buried. order
The Philosophy of Money.
Mr. George Wilson , of Lexington ,
. , although a banker , and a very suc
cessful one , is also an earnest and in
telligent advocate of free silver. His-
book , "Financial Philosophy , " is one of
the best contributions to this subject
that has been published. The fact that
Mr. Wilson is highly educated and in
telligent , and also noted for his liberal
ity and benevolence , explains why ha
has no patience with that selfish ab
surdity called the single gold standard.
Mr. Wilson advances an idea that will
seem novel to many , namely , that mon
ey , the common medium of exchange , ,
being in fact public property , ought not
to be taxed. In other words , a tax on
that which belongs to all the people is.
a self-imposed tribute , and at the same-
time unproductive and hurtful , creat
ing a result similar to that produced by
the man who tried to lift himself over
the fence by tugging at his own sus
penders. The suggestion points to
ward the single tax theory , which we-
fear is founded on a fallacy. But it
embraces also a principle that we be
lieve to be sound. That is to say , money
being a creature of the public and be
longing to the people , no individual-
should be permitted to loan or hire it
out to other individuals. This is the
germ of the Mosaic law , which was-
founded on wisdom and justice. The
lending of money by individuals
amounts to the same thing as one
member of a family charging the rest a
rental for the use of the comforts that
belong to all. The Government , which
is all the people acting In concert , is ,
or ought to be , the only agency author
ized to lend money , and all private-
lending ought to be prohibited by law.
If this were the rule the interest or rent
paid by individuals to the Government
for the use of the common medium of
exchange would pay all the public ex-
xienses and create that philosopher's
dream of a government without taxa
tion. Is not this a more substantial
idea than the single tax plan of laying :
all the burdens of government on that
element which is necessary to the exist
ence of every creature. Is it not also
part of the principle suggested by
friend Wilson ? And , furthermore , can-
we not trace the unpopularity of the
money-lending business referred to in
Mr. Wilson's letter , to the fact that it
is an evil calling , prohibited by the law
of the scripture , and regulated and cir
cumscribed by the statutes of every
civilized nation ? But , it will be asked ,
would you take away the opportunity
of those who are dependent on the in
terest of their money for a living , in
many instances widows and orphans
jvho cannot invest their means in busi
ness ? The writer remembers that a.
Similar argument was used in support
the righteousness of human slavery ,
but it did not prevail. Freedom over
came all argument and all fallacy , and
slavery disappeared. Human freedom
also involved in this question of the
lending of money , and we believe it
will be settled right , just as slavery
was. With its settlement will come pub
ownership of railroads and other
utilities , based on guaranteed bonds
that will afford a safer and more cer
tain income for invested capital than
security on individual property can
possibly furnish. Exchange.
Currency of Banks.
Bank currency and bank credits are-
.Issues by the banks for their own ex
clusive profit. Greed for gain is the
motive that impels the banks to expand
their circulation and multiply their
credits. Every expansion of such
money substitute tends to advance
prices. Every advance in prices adds
v life and vigor to production and
business by increasing the profits of
enterprise. If such advance in prices
1 5 based upon the existence of actual
money to sustain them and money sup
would sufficiently keep pace with
demand to prevent prices from reced
' the energies of a nation would soon
full play and an era of production ,
progress and happiness would follow.
with bank currency and bank
credits doing money work and thereby
advancing prices , the prosperity that
follows in its wake is ephemeral and is
paving the way for the ruin of
thousands of innocents for the enrich
of every one of the conspirators.
Events forbid the gold combination
' banking ring to longer prate their
erstwhile vauntings about laws that
higher than , and superior to , statute
referring to the laws of trade-
are self-acting forces. Under the-
operations of these laws the gold stand
is bearing upon the -world with
crushing effect , forcing England to hes
lest by persevering in India she-
forfeit her supremacy in trade ana
the doom of the British Empire.
Any recognition whatever of the uni-
self-acting laws of trade con
the Issue of bank currency to the-
of lunacy.
money of the country was good
and proved itself to be panic-
. When the banks commenced.
squeeze by contracting - their „
and forcing their customers to- '
money , their phantom money con-
< money broke down , and the
were forced to suspend cash pay-
. If we had had bank notes in
instead of greenbacks , treasury
, and silver certificates. , the Indus-
and ; producing classes of the coun-
would have been involved in unl-
ruin and the foundation of social
would have been severely tested.