* . ' -iV&swisamL M
Conservative
MOKNINO.
TJiu joyous time of all tlio day ,
Tlio inoinuntH glad with brightness
When Hf is thrilled by spirits gay ,
Till burdens shrink to lightness ,
Oft comes when restful sleep 1ms fled ,
And cares it cnmo to banish
Away on morning light have sped
And with the shadows vanish.
The morning hours I How happy they !
What treasures in their giving !
They bring unow a perfect day
For truer , better living.
And all the dreams within the heart
That hope has been upbuilding ,
Seem like a real , golden part
Of early dawning's gilding.
The eastern sky a rose-light fair
O'er breaking clouds is Hinging ,
Tlio birds Hit through tlio shining air
And greet tlio day with singing.
Deep in our hearts their rising notes
With echoes are repeating
And upward , upward vision floats
Above this splendor fleeting.
From hill-tops high the sunbeams glide ,
The valley's shadows paling ,
Till all the world in radiance wide
Leaps out from night's deep veiling.
With prophecy the opening day ,
That springs for earth's adorning ,
Casts o'er the silent future's way
Tin1 beckoning gleam of morning.
MAIIY FHKNCH MOIITON.
Whenever you wish a watch mended ,
take it to a wagon-maker. Whenever
you realty desire to know whether a
prevalent disease is measles , chickenpox -
pox , influenza or smallpox , avoid talcing
the opinion of medical experts but in
quire of all the wise loafers who whittle
placidly on dry goods boxes and believe
that "the hams of hogs killed in the
wane of the moon , always shrink in
bilin' . ' ' Recent experiences in Nebraska
demonstrate the extravagance of taking
lay evidence instead of the testimony of
experienced and skilled medical men.
If you seek knowledge go to those who
have none.
T h e Nebraska
MAXIMUM legislature is at it
UATE LAW. b. _ . , .
again. The dia
bolical railroads have aroused the ambi
tion of every little Moses who aspires to
lead the voters up to the ballot-box in
battle array against the money power ,
monopolies and trusts. Therefore max
imum rate bills are numerous and fluffy ,
flying hither and yon among the law
makers , like snow-flakes in a blizzard or
cinders from a locomotive smokestack.
It is forgotten that the transportation
offered by the railroads is a composite
service made up of nearly every menta
and manual effort of which mankind is
capable.
The cost of transportation depends
upon the cost of the materials and ef
forts which compose it. Passengers and
freight can not be carried at the same
rate on a line , with a tributary popula
tiori of five hundred to each mile of rail
at which a line of similar construction
and cost can carry which has a popula
> rfcf
ion of five thousand contributing to
each mile.
The cost of transportation is partly
nade up by the cost of ties. Where ties
ire a dollar apiece it is not reasonable
o expect rates as low as where they are
only fifty cents. Each mile of modern
railway uses three thousand ties. They
nay cost that many dollars or half that
amount.
Coal on some lines , in states , like Ne-
> raska , which have no coal mines , costs
; hreo and four times as much as upon
certain lines in Pennsylvania , Ohio and
West Virginia. And the cost of coal is
an integral in the composite cost of
transportation.
Even water is on element which , on
some of the overland transcontinental
routes , enters largely into cost of inov-
ng freights , as in parts of Arizona and
; ho Mohave desert. On some lines it is
carried sixty to one hundred miles ( in
; ank cars ) for steam-making.
Taxation of railroad property is an
other factor in transportation the
ligher taxes are , the more the rates.
Nebraska lawmakers who can reduce
; axatiou may legitimately reduce rates.
Labor and its wages are however the
argest element in raising or lowering
rates. To illustrate : during its last fiscal
year , ending June , 1898 , the Atchison ,
Topeka & Santa Fe railroad received all
told § 26,075,000 and of that sum sixty-
seven per cent or $17,524,000 went for
wages , operating expenses and mainten
ance of the roadbed and tracks.
If it is a proper thing then for legisla
tion to prescribe and fix maximum rates
for all transportation sold by railroads
why is it not equally fair and proper to
fix the maximum prices which railroads
may pay for all the materials and labor
which they must buy ?
If legislation may equitably interfere
and lawfully put a price upon transpor
tation why should not legislation also
equitably and lawfully limit the prices
of coal , ties , iron , steel , labor and every
thing else which goes to make up trans
portation ?
Is hot the policy of non-interference
preferable ? Will not competition anc
the let-alone policy prove best for the
public in Nebraska and every where else ?
Who has benefited by anti-railroad
legislation in Nebraska ? Have not new
and competitive lines been shut out ?
Why not repeal the board of transporta
tion law and abolish a lot of parasites
who have like leeches been fostenec
upon the state treasury ever since tha
board for making salaries and lawyers
fees was instituted ?
In his decision at Des Moiues Unitec
States Judge Shiras said that endowmen
policies belonging to voluntary bank
rupts are a part of their assets. Bu
straight life policies were not includec
in the decision of Judge Shiras who held
them exempt from legal process.
7
THE MUTUAL LIFE'S NEW 1'OLICY :
The exceptional generosity shown by
ho Mutual Life in its now departure in
ssuing a policy containing liberal guar
anteed cash surrenders , extensions )
oans and paidups , has , not unoxpec-
edly , attracted universal attention. It
s probable that no event in life insur
ance of recent years lias more deeply
stirred the business at largo. The
lolicy offered by the Mutual Life is
nero liberal in its guarantees than any s
yet issued , so liberal , in fact , that one
of its chief competitors , the Equitable ,
ms announced that it will decline to
'ollow its example , and publishes an ex
tended circular , in which it is contended
that the guarantees offered after the
sixth year are in excess of the reserve
and that the largo surrenders cannot bo
mid except from the surplus accumula
tions of present policy holders , inasmuch
as there is no increase in rates. It is
also contended that there will be an
inequity in the case of policyholders
taking the new contract as between
those who persist and those who with
draw. It further holds that these lib
eral cash values will induce the with
drawal of sound lives , thus creating a
mortality selection against the company.
The Equitable says : "We are frank to
say that if this new policy were a gen
uine improvement , we should not hesi
tate to issue a similar contract. We
liave no false pride regarding improve
ments introduced by our competitors. "
We understand that Actuary McClin-
tock has informed Mutual Life agents
that they need entertain no fears as to
the adequacy of the reserve , for , as a
matter of fact , the cash guarantees are
much below the special reserve main
tained on the now policy. [ He also states
that the new contract was approved and
adopted after careful consideration and
consultation with eminent actuaries.
Actuaries Van Cise and McOlintock do
not agree upon the merits of the new
policy. Who , therefore , shall decide ?
The Standard.
THE CONSERVATIVE as a policyholder
in the Mutual Life , for more than thirty
years , would like to know how these
extraordinary advantages can bo given
to the newly-insured except at a paral
lel disadvantage to those policyholders
who have been paying premiums for a
quarter of a century and more ?
The Equitable also carries , since
1868-0 , ten thousand dollars in policies
which concern the writer hereof and
while wo have no great affection for the
few stockholders who run the Equitable
we rather incline to takes its doubt , as
to the new-fangled and generous poli
cies of the Mutual , for well-grounded
objection.
THE CONSERVATIVE will have more to
say in behalf of those in Nebraska who
hold policies in Now York life com
panies.
