E
I. M. RICE Editor and Proprietor.
MARK ZAKTI Foreman.
Entered at the postoflice at Valentine , Cherry county , Nebr. . as Second
UJa ? & Matter.
TERMS :
Cherry Co. Subscriptions : { | [ ; K
, - , . 0 . . , . \ Si 50 ppr'voar in advance ; paper dis-
Foreign Subscriptions -J atexliralion if not renewed.
A j * . r > - . J i 15 < ; P 'i' i'lth ' padi is ue ; by contract , 12c. .
Advertising Rates TnillsiL nt adl , 20c I1r incll. Iocals 10ca line.
Foreign rates for stereotyped advertising , 13 months or longer 10 cents
per inch , net.
Local notices , obituaries , lodge resolutions and socials for revenue
5 cents * per line each insertion. '
THURSDAY , MAliCU 2i > , 1008.
Needed
Last week's Kepublican con
tained the correspondence between
the village board ajid S. F. Oil
man , relating to their contract , for
village pumping and lights , aUa
letters to Congressman Kinkaul
regarding the transfer of 24:1) : )
acres of land from the Fort Kin-
brara military reservation to the
village of Valentine. The facts
disclosed by these letters indicate
that the present village board has
been looking well to the interests
of our city and that it is their in
tention to provide a water system ,
owned and operated by our city ,
with reservoir on the hill north ul
town , and to dam the .Mmni-clm-
duza below Mr. Oilman's dam for
our water power. Jt is proposed
to build a dam that will provide a
much larger pond than .Mr. Gil-
man's and pump our water all
we can use and run our electric
lights night and day , too , so that
people can have a li ht in a dirk
room or cellar at any time. Power
can also be furnished in this way
to run saws , grindstones , pump
water from a well , and all oth * r
mechanical work.
W. S. Marker , A. N. Compton
and \Y. Jackbon are men of
ability , and , as members of the
village board the past year , have
been doing something for the per
manent good of our city. They
have plans laid for carrying on
this work and their efforts should
be encouraged by a vote of con
fidence.
Of course , there is some trouble
over an old hog ordinance that
sent some people into the air , and
Oeo. Elliott and Grant Dunn
wanted sidewalks built in the we t
part of town , which were needed
and have been built. We need
more of them in other parts of our
town. City * improvements I'ur-
nibh work for the unemployed and
the money expended goes mostly
to our home people.
The old water tank is fast go
ing to decay and we need a bigirer
and higher one. At present the
pressure is not great enough for
fire protection in the higher parts
of town and the court house is
higher than the tank.
Gentlemen , this is not a time
for parleying over small matters. .
They will be properly adjusted l > . \
the present town board in course
of time as satisfactorily as anyone
can do , without partiality or fav
oritism. j\Ve need these public
improvements and we need good ,
competent and capable men to
handle them men of experience
in doing and providing ; men of
business ability who have succeed
ed in business for themselves , and
we need the revenue to do business
with.
The greatest movement of the
time a movement that is going to
preevnt this government from be
coming an aristocracy of wottlrh
is now on It i not a narrow ,
selfish movement ; it is not social
istic ; it is antagonistic to the
merited rewards of superior gen
ius or business ability. Bur , it is
opposed to Special Privileges : it is
against unjust discrimination ; it is
for the , squ-ire' deal. And this
fight is goinir to be fou rht until
the people win. The success of
the people in thi engagement is
essential to the success of democ
racy in the United States. Lin-
coin Star ( rep ) .
Church IV f . .
Sunday's subjects :
11:00 a. in , * 4'rli lie ward of
thi RechabiU'K "
7 : # > p. m. . "Shall We K > cp
Saturday or Sunday ? ' '
' . .50 | > . m. Lca ler of Christian j
Kn.--u\-nr ] v.ill hi- Henry Ninas.
Topic : kTroM'i . the Wiilip-
pines. " ' AfenilMM- * i.lio conjure-J
Cation are hereby n .i".did of thcj
fljirbigb missionary /liocdon. r
. < 5rjory Coxsafry Wet.
From the Bonesteel Herald in
; the Norfolk news \ve notice the
following results :
BOXKSTKKL
! There \UH only one ticket in the
, field al lionesteel and the only
coutentioi , was a > to whether or
j not the town should be wet or dry.
i The wets won by a vote of 94 to 14
! BUHKE
Of all other towns in the county
| Burke showed the large-t per cent
jof prohibition sentiment. The
vote was : wet , 41 , dry 24.
DALLAS
At Dallas there were two tickets
I in the field and a bitter ii hr , was
wayed for the supremacy. There
were 12. votes cast. The liquor
vote stood : wet JO , dry 16.
GllEGOUY '
A most strenuous effort was
made at Gregory to overthrow the
present government and in a meas
ure it wa < suci cs ful. .There we e
two tickets in the field and the
fio'it willed rather warm with a
result that a part of each was elect-
el by very close margins. 219
votes wore cast. The wets were
1(56 , dry 42.
JIKIMIICK
The fight at Ilerrick was similar
to that at Gregory , insofar as there
were two tickets in the Held and a
part of each were .successful. The
wets mustered 82 votes , drys 41.
FAIRFAX
The town went wet by a vote of
73 to 25.
During the ope week of March
' 23 to 2S , inclusive , the Lincoln
Daily News \\iill accept § 2 from
mail subscribers for a whole year
to April 1 , 1909. the regular price
being 83.
Tnis cut in price is made possif
ble by taking traveling solicitors
from the road and doing business
with the readers direct , giving
them the savings in salaries , rail
road fares , hotel bills , etc. The
News is a regular $3 paper , but
by this method you can save § i.
This will be a great year in Ne
braska and you will want a daily
paper. One that's not afraid to
say right out what it thinks. l\o
office holders or office seekers aie
interested in this paper. It's run
on the square deal plan , under no
obligation to political bosses.
Aren't you interested in the fight
that is being made in Nebraska
for everybody's goodIf you
are , send in your § 2 and get this
live paper all through the cam
paign and through the next legis
lature. Keep tab on whats' being
done. The people will never get
what's their rightful due until
they go after it. The News will
always be found helping you lo
get what's fair.
Remember the bargain week
March 23 to 28. The price will
be $3 a-fler that week and its a
gof-d bargain at even that higher
price.
House and small barn , with two
lots , close in , near school building ,
for sale at a bargain. House is
new , lawn and shade trees , good
-idewalk , all fenced. Part cash ,
balance easy payments. Call on
l.\M. llice , agent.
This is just the { .lace for some
ranch owner or fanner to select
for his wife and children to live
luring the winter and send chil-
Iren to school. Don't delay as
Jiis property will find an owner
? oon. It may be yours. Come
ind see about this first time you
ire in town. v IS
Get your property insured by J.
VI. l ice and you will be safe. His
pay lossespromptly.
COMMONER
COMMENTS
MR. BRYAN'S OPEN LET
TER TO MR. FORGAN.
SELFISHNESS OF LATTER'S ARGU
MENTS POINTED OUT.
Interests of Bank Stockholders Placec
Above Interests of Depositors
How Government Guarantee
Law Would Work.
James B. Forgan , president of the
First National bank of Chicago , gave
to the newspapers an open letter ad
dressed to Air. Bryan in which lettei
Mr. Forgan argued against the pro
posed guarantee of hank deposits anil
insisted that Mr. Bryan , in a formei
ciiticism of Mr. Forgan's position , hat
misquoted him. Mr. Bryan understood
Mr. Forgan to say that he was op
posed to the guarantee of deposits he
cause it "would make all banks safe , '
whereas what Mr. Forgan really sail
was that it would "make all hanks
equally good. " In an open letter ad
dressed to Mr. Forgan Mr. Bryan ac
cepts the correction , adding that he
thinks the distinction drawn is vcrj
fine.
fine.Mr.
Mr. Bryan resumes :
"You object to the government's
guarantee because it puts all banks
on an equality and makes all banks
equally good , and you object to it foi
two reasons : First , because it woulc
deprive banks like your own of the
advantage which they have won bj
'conservatism and good management.
You intimate that it is not selfis'li foi
you to defend yourself and your banL
against a policy that would 'despoil
you or it 'of vested rights and prop
crty , ' and are willing to admit youi
selfishness if that can be considered
selfish.
"Let me make the charge so directly
that there can be no question aboul
what I mean. I charge that you put
the interests of your stockholders
above the interests of your depositors
and that you put the interests of the
big bank above the interests of the
various communities and of the pub
lie at large.
"Let me remind you that that which
you regard as 'good will' is largely an
advantage created by law. The good
Avill which you measure in dollars and
cents is not entirely due to good man
agement. It is due , in the first place ,
to the fact that you are a national
hank , and you are a national bank
because the representatives of the people
ple enacted a law that permitted you
to organize as a national bank. It is
due in part to the fact that national
banks are inspected and regulated b'y '
law , and these laws are made by the
representatives of the people. It Is
due in part to the fact that many
people believe that deposits in nation
al banks are in some way guaranteed
by the government as the bank note
is.
"When the laws were made , the law
makers thought they had provided for
the security of the depositors , and it
is not only unfair in you to count as
entirely personal to yourself or your
directors , the confidence shown by the
public in your bank , but it is selfish to
insist that the people have no right
to obtain fuither security , even if , as
o result of that , your bank loses some
of the advantages which it now has
over smaller banks. The bank exists
for the benefit of the people. It is a
mistake to assume that the people ex
ist for the benefit of the bank.
"The law requires that a certain
percentage of the deposits shall be
kept as a reserve why ? For the ben
efit of depositors. The lav/ provides
that no rhore than ten per cent , of the
capital and surplus shall be loaned
to one person why ? For the protec
tion of depositors. Everj * law passed
for the.protection of depositors tends
to equalize the banks , and you can
make just as sound an argument in
favor of the repeal of all restrictions
as you can make against the guaran
tee of deposits. The fundamental
difficulty is that you look at the ques
tion from the standpoint of the bank
er and not from the standpoint of
the depositor , and you insist that the
depositor shall be left unsecured in
order that your bank may have an ad
vantage over smaller banks.
"What security do you give your de
positors that other banks do not give
their depositors ? Is it that the officers
of your bank arc better men9 They
may die , and inferior men take their
places. Is it because your directors
are better thsn other directors ? The
board of directors may change. Is it
because your stockholders arc better
than others ? Your stock is sold < n
the market and a change may take
place any day in the ownership of
the stock , that will entirely change
the character of the bank ; and if such
change takes place , who will know It ?
"In the recent stringency , the banks
all over the country 'felt themselves
justified in suspending payment upon
checks , and for the first time in our
history the depositor was told how
much of his own money he would be
allowed to draw out for the carrying
m of his business. Why was this
extraordinary step necessary ? Because
Jie banks throughout the country had
leposited a part of their reserve in
Kew York and other reserve cities ,
nul could not withdraw thorn. Each
bank feared a run if it permitted the
withdrawal of deposits , and. why
.vould * depositors want to withdraw ?
Because they were afraid of losing
.heir deposits if they did not.
ytrur first
tore by saying , that you J\- >
' .he personal element in thepx. . v. ,
that you enjoy and underestimate the ?
advantage that you derive from the
' .aw ; and , second , that our laws shouU
be made for the benefit of all the people
ple and not for the benefit of a few
3of the people. While I can admire
the interest which you feel in the wid
ows and orphans who are stockhold
ers , I must remind you that the wid
ows and orphans who deposit money
'in banks are also entitled to consid
oration. It is supremely selfish in you
to forget the interests of the largef
number of depositors who make bank-
'ing profitable. Banking would not
be very advantageous if you only
loaned the money of the stockholders.
The real profit of banking conies from
the loan of depositors' money and it
is a little heartless in you to look at
the question entirely from the stand
point of those who get the benefit of
the deposits.
"Your second argument is , that the
guarantee of deposits would lead to
reckless banking- and that the busi
ness communities would protest
against the guarantee system on the
ground that it would make all banks
insecure and drive the better class of
people out o the hanking business.
"That , of course , is a prophecy , and
a prophecy is more difficult to answer
than an argument based upon history.
Insofar as experience teaches any
thing , it teaches just the contrary. A
guarantee law has been passed in
Oklahoma , and the result is that the
bankers of southern Kansas have
joined with the depositors in asking
for a special session of the legislature
in Kansas to consider a guarantee sys
tem , and they have done so because
they fear that deposits will be with
drawn from Kansas and carried into
Oklahoma. Instead of driving men
out of the banking business , the Okla
homa law has led a number of na
tional bankers to take steps toward
changing their banks into state banks
in order to take advantage of the
state law , in case national banks are
not allowed to enter the system.
"When I tried to secure the passage
of a bill in Nebraska , providing a
guarantee fund for state banks , it
was opposed by the national banks on
the ground that people would remove
( heir deposits from the national banks
to the state banks , if the state hanks
were made absolutely secure ; and it
is to avoid injustice to either class
of banks , that I have urged that na
tional banks should b permitted to
take advantage of guarantee systems
established in the states and that
state banks should be permitted to
take advantage of any guarantee sys
tem established by congress.
"The guarantee of deposits will not
produce recklessness in management.
Ypu are selected by the stockholders ,
not by the depositors. You will en
deavor to manage your bank in the
interest of the stockholders , and your
argument shows that you consider
their interests paramount. Under a
guaranteed system of banks , you would
still be responsible to your stockhold
ers. They would lose all that they have
and be subjected to the 100 per cent ,
liability in addition , before other
banks could lose anything on account
of your bank's failure. Would this
not be sufficient to make you careful ?
"Do you think we could improve the
character of our bankers by repealing
all laws providing for regulation and
inspection ? L" not , why do you think
it would lower the character of bank
officials to increase the security of de
positors ?
"The fact is. that the country is suf
fering to-day from lack of confidence
in banks more than from any other
cause. The money can not be drawn
from" hiding and hoarding unless the
depositors are assured of the safety
of the banks. The amount of the tax
on each bank would be little compared
\vith the benefit which it would re
ceive from its shore of the increased
deposits , and as for making hanks un
safe , the guarantee system will insure
safer banking.
"Nearly every bank failure is due
to the appropriation of the money by
the directors or officers.
"Why have we not been able to
secure better regulation of banks ?
The answer is simple. The bad banks
don't want any regulation and the
good banks prefer to make a business
advantage out of the recklessness of
other banks. When banks become mu
tually responsible for each other'- ?
depositors , it will be easier to secure
the proper regulation of the banks.
"It all depends upon the point of
view. If legislation is to have for its
object the welfare of the whole people
ple , then the guaranteed bank ought
to come and come to stay. If , how
ever , the legislation is to have for its
object the securing of privileges tea
a few of the community at the ex
pense of the rest of the community ,
your argument is sound.
"I believp that it would be perfectly
safe for the federal government to
guarantee deposits in the national
banks , collecting from all the banks j
in proportion to deposits the amount -
'
that it would have to pay out to the
depositors of banks that fail , and I be
lieve that it would be safe for states
( o adopt a similar system to guarantee - ,
tee the depositor in state banks. In ,
that cnse , the government would have
back of it the assets of all the banks.
But if objection is made to an absolute - J
lute guaranty by the government , the (
same end can be reached by the sys
tem adopted in Oklahoma whereby the
banking board collects a guarantee
fund and is then empowered to make
such further assessments as may be
accessary to restore the fund in case .
.noney is drawn from it to pay the deI I
lositors of a failed b'anlu This puts '
ill of the banks behind each bank ,
.vithout . involving the government in
laumaen Bachelor
MEAT MARKET
to
Fresh Salt and Cured Meats , Fish , Oysters ,
Vegetables , Pickles , Lard. We buy poultry ,
butter and eggs and all kinds of live stock. ,
Call or Phone 88.
BAUMANN & BACHELOR ,
Valentine = Nebraska
Y
p u ff v a anLjm3ri
Lump i i U U per ton
7 on
Nut I i < Uperton
At last a Wyoming- coal has been f..aud which in all respects , for
domestic u e , equals Kock .Springs district coal and excels it in some.
Rock Springs has for years been unbeatable , but hundred * cf custom
ers in the western part of the state now put ElUDSO ahead of it
en account of purity , cleanliness and lasting qualities. For cooking \
and heating stoves HUDSON cannot be excelled.
C r F
Dealer in Hardware , Furniture and Coal.
HI _
| The only genuine and absolutely
reliable .substitute for tea
and coSee is
K vC4 ra j H 'ISfe > 5 MM a
the new food beverage gives life , health , vigor , joy ,
comfort and beauty , and is highly recommended
1 for nerve endurance , and building up the constitu
' ? tion. It is a pleasant beverage and contains great
nutritive and invigorating qualities. Has the re
y freshing properties of fine tea , the nourishment of
the best cocoas , a tonic and recuperative force pos
w < * sessed by neither , and can be used in all cases
wv ] where tea and coffee are prohibited.
y. >
/ ;
v ]
! Eggo's Fruit Salt is a great health reviver.
V. yA laxative and- thirst quencher. Effervescent and
$ ' so delicious to drink that a child likes it. Has all
* the properties of a Sedlitz Powder and more , and
is recommended in all cases of indigestion , constipation -
pation and headache. Eemoves impurities from the
blood and can be used freely without causing injury
Manufactured by
I , IF a
* >
k
i
OMAHA , U. S. A. ii i
The above preparations may be had from all
Grocery and Drug Stores.
&arav
j jntine's Pore Lipor Center
iiblic opinion is unerring , puUic confidence sel
dom misplaced : The true worth of every business
concern to the community in which it operates is
fixed by its clientele the
, value-giving power of ev
ery commercial institution may be determined by
the amount of patronage it receives. The people
have unmistakably proclaimed their confidence in
and its methods , by bestowing upon it a far greater
patronage than that accorded any other place in
Valentine , Where the major portion of the fair ,
the impartial , discriminating public buys its Liquor
and Beer , must be a good place for You , the in
dividual , to trade. Visit The Stock Exchange when.
you need anything in our line.
W. F. A. MELTENDORFF
I
