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About The Conservative (Nebraska City, Neb.) 1898-1902 | View Entire Issue (Sept. 27, 1900)
DESIGNATED DEPOSITARY OF THE UNITED STATES.
National Bank of the Republic
CAJPIT-AX. , OJVB MILLION DOLLARS.
JOHN A. LYNCH , President. W. T. FENTON , Vice President and Cashier.
J. M. CAMERON and II. R. KENT , Asst. Cashiers. R. M. McKINNEY , 2d Asst. Cashier.
AMERICAN MONEY ABROAD.
Farther evidence that Uncle Sam is
becoming a money lender to the world
IB furnished by the German loan of $25-
000,000 which is now being subscribed
in New York. Something more than a
year ago a largo Mexican loan was
floated in New Yoik , bettor terms being
obtainable there than elsewhere in the
world ; then came the Russian loan , the
exact amount of which was never stated ,
bat which was well up toward $50,000-
000 ; then came the sensational placing
of $28.000,000 of the British war loan in
Now York , and now Gernany joins the
milks of borrowers from America.
Perhaps thrifty France , which up to the
present has shown a sponge-like capacity
to soak up the enormous debt which
France has accumulated , will bo the
It will be assumed by some that the
money which has been lent to the
German government will come out of
the pockets of the rich bankers whose
names are connected with the under
writing. Bat that this assumption is
baseless appears from the statement of
John A. McOall , president of the New
York Life Insurance company , that his
company will take one-fourth of the
entire amount. This insurance com
pany , like others of its class , is a huge
co-operative affair , with the funds in its
possession for investment really belong
ing to , as they were contributed by ,
many hundreds of thousands of policy
holders. In like manner the great sums
now confided to the care of the loan
companies and to the banks represent
the money not of the few , but of the
multitude. There is nearly $2,000,000-
000 in the savings banks of the United
States today , placed there , not by the
rich , but by the comparatively poor.
Formerly the idea almost universally
prevailed that the few lent to the many.
This * false notion was fostered among
those who did not look below the surface
of things by the fact that the custodian
of money has seemed to be its owner.
As a matter of fact , in America today
the many loan to the few. Through the
instrumentality of banks , insurance
companies , building and loan associa
tions and various kinds of investment
concerns , the money is gathered
together which is talked of on the ex
changes. Factories , railroads , steam-
ship companies , mercantile companies
in fact , nearly every kind of large enter
prise are habitual borrowers. It is
seldom that they lend , and the money
they borrow comes from the thousands.
The business of this country today is
done on the capital furnished by the
people who live in small houses. The
educational campaign of 1896 , and the
discussion of the money and correlated
questions which has continued since ,
ha i done something toward breaking up
the old ignorance , but a good deal yet
remains , and therefore , as to this Ger
man loan , it would doubtless be said
that it doesn't signify anything , except
that a few rich New Yorkers have more
money than they know what to do with.
Des Moines Leader.
W. T. BAKER TELLS WHY UK OPPOSES
Mr. William T. Baker , a prominent
Chicago business man , who has exten
sive interests in the state of Washington
and constructed the electrio light plant
of Tacoma , v ill not vote for Bryan. He
is a Cleveland democrat and believes
the issues Bryan typifies are dishonest
and lawless. Mr. Baker wrote the fol
lowing letter expressing his views :
Sir : The democratic organization
has passed under the control of public
enemies , and no man who holds to the
traditional doctrines of the party is
under the slightest obligations to follow
the present leaders.
"The policies that guided the party
from Jefferson to Cleveland have been
side-tracked for the isms of populists
and anarchists. Even free trade has
given way to Bryan's promise that he
will 'recommend such additional legis
lation as may ba necessary to dissolve
every private monopoly which does bus
iness outside of the state of its origin. '
"This would mean under populist
interpretation and control the limitation
of all successful enterprise within the
state lines ; not a captivating programme
to suggest at the moment when Amer
ican commerce is being pushed beyond
"The democratic crusade
pansion , termed 'imperialism , ' is an
absolute sham , a silly and hypocritical
invention to divert attention from their
revolutionary purposes. Expansion has
been the polioy and practice of the
American people since the pilgrims
landed on Plymouth Rock , and no man
who understands the real spirit of our
institutions can be frightened by the
phantom of imperialism which Bryan
has conjured up for the campaign only.
' Since Napoleon Bonaparte there has
been no greater imperialist than Bryan
himself. His will is the law of the party
that supports him , and , if elected , he
would endeavor to rule the entire nation
with the same iron hand. Napoleon
deluged Europe in blood to reaoh a
throne , and Bryan would not hesitate to
wreck every industry in the laud to
attain the presidency.
"This talk of imperialism is like the
rattle of the snake that hurts nobody.
It is the head of the reptile that is dan
gerous , and there you will find the free
"The paramount issue is exactly the
same now that it was in 1896. It is 16
to 1 and lawlessness , as personified in
Bryan , versus the gold standard and the
security it brings. I shall vote for Mo-
Kinley as representing the latter.
WILLIAM T. BAKER. "
et cct l
anil occ > ii > ! ctl by
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