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About The Conservative (Nebraska City, Neb.) 1898-1902 | View Entire Issue (July 4, 1901)
Conservative. A WISH. So lot me hence as one Whose part In the world has been dreamed out and done ; One that hath fairly earned and spent , In pride of heart and jubilance of blood , Such waRes , be they counted bad or good , AH Time , the old taskmaster , was moved to pay ; And , having warred and suffered , and passed on Those gifts the Arbiters preferied and gave , Fare , grateful and content , . . Down the dim way , Whereby races innumerable have gone , Into that silent universe of the grave. Grateful for what hath been For what my hand hath done , mine eyes have seen , My heart been privileged to know ; Witli all my lips in love have brought To lips that yearned in lovu to them , and wrought In the way of wrath , and pity , and sport , and song ; Content , this miracle of being alive , Dwindling , that I , thrice weary of worst and best , May shed my duds , and go FrDin right and wrong , And , ceasing to regret , and long , and strive , Accept the past , and be forever at rest. W. E. Henley in the North American Re view. THE GROWING DESIRE FOR A CEN TRAL BANK. Two items recently appeared iii the newspapers pointing to a desire for a central bank. Although neither item was what may be regarded as authentic , they may be taken to bo straws showing the trend of thought among business men. One of those items credited Mr. J. Pierpoint Morgan with having a plan for the establishment of a bank with a capital of $100,000,000 ; the other , that Mr. Oakley Theme , president of the North American Trust Company , of New York , had considered the estab lishment of an equally large "Bank of Banks , " in which each bank in the country could be interested. Concern ing these reports , the New York Journal of Commerce says : Rumors. "The reports probably originated in an article by Maurice L. Muhleman , for merly deputy assistant treasurer of the United States in this city , in the current number of Money , a financial publica tion , in which he discusses the feasi bility of discontinuing the sub-treasury system and carrying on the govern ment's fiscal business through a great United States banking institution , as is done in England or France. " As to the published reports mentioned : While it is not impossible to provide for so large a bank under existing laws , it is manifest that a special act or chartei from congress would be almost a necessity - sity to give the institution the standing which it should have. A large capital is not the only requisite for a successful bank of banks ; certain corporate powers - ers are also indispensable , and its aggregate - gate of operations of all kinds must be entirely free from uuy interference by state laws and plans for .state taxation , as the fiscal agency of the federal government. Functions. Thus the bunk should have such note- t issuing powers without the pro-requisite of bond deposits as would enable it to give the country the ample extra supply of notes , required during crop move ments and authority granted to act as a bank for re-discount for all other banks , no matter whore located. And for these purposes as well as for the necessities of international trade , a federal charter permitting the establishment of branch es would be necessary ; something not possible under the present national banking laws. Again , it would be wise to have such a bank of re-discount , and accommoda tion for exchange , both domestic and foreign , under federal supervision , and , in order to secure proper control and an efficient instrument in the hands of the treasury to provide remedies for unsound commercial conditions , the government should own a substantial interest in the bank , and appoint a certain proportion of directors and the executive officers. . A Charter. Moreover , without a federal charter , it would not be practicable to cany out the two great reforms demanded by the interests of the people of the United States , and their industrial enterprises viz. , the retirement of the "green backs" and the abolition of the sub- treasury system. Both of these reforms are bound to come ; both are essential to ultimate financial stability and to the best interests of our growing domestic and foreign trade. In fact , the recent changes in the status of the Union and its acquisition of great colonial pos sessions , as well as the great expansion of national enterprise , have so changed business conditions that the creation of a central bank as a biilwark of Ameri can finance is absolutely necessary to maintain the position of predominance in the world of trade which had been secured. Perhaps neither Mr. Morgan nor Mr. Theme has really had any plan actually in mind ; but there can be no doubt that if Mr. Morgan conte'mplates any such thing , he is the one to carry the plan into execution. Under his direction there would be no question of the success of the project. He is not , however , in the habit of taking many people into his confidence as to his enterprises ; and it is , hence , not probable that he has told the newspaper man of it. Currency Reform. Yet it would prove the crowning act of a most snocessful career if he would undertake , by means of such a coiueu- tration of the great forces of American finance , to bring about a reformation of $ " . our currency and financial system upon lines which the civili/ed world has proven are the best possible and the only scientific solution of monetary prob- lenis in any country that has over suc ceeded in practical application. History would for such a work , place him along side of Alexander Hamilton and Albert Gallatin. Money. WHITE CLOVER AS AN OLD SETTLER. EDITOR CONSKKVATIVK : I notice in reading Tim CONSEHVATIVK you devote considerable space to the early settle ment of your state. I have often heard father ( Robert Douglas , the first planter - of pines on the prairies ) speak of , one settler and doubtless his descend ants are now numbered by the " . " millions White Clover. This plant , > as you know , follows civilization a ? a ' / rule , but in tins case it preceded it. " Father settled in , this place in 1844. Three years later ho found one plant of white clover , which ho dug up and planted in his garden. The two follow ing years ho planted a few more , which he also dug up. . So when he started for California in ' 49 , he had about one foot square of it growing. On his trip across Illinois and parts of Missouri and Iowa , he did not see any , but on the third or fourth day's journey west of the Mis souri river ho found quite a bed of it. When he reported it to the balance of the party they thought ho was mistaken , and they wore taken to the patch. After wards they found that the government had nt one time distributed the supplies to the Pawnees at this point and the seed must have been in the packing. Yours truly , T. H. DOUGLAS. Waukcgan , 111. , Juno 18 , 1901. A SOUTHERN VIEW. If these insular possessions are "ours" if the conglomerate mass of all colors and conditions of men civilized , semi- - - 1 civilized , and barbarians who inhabit "our foreign territory , " are to be hold does not the experience of the South with the large alien race among us em phasize the wisdom of holding them as colonies rather than taking them to our bosoms as sister states on terms of equality ? One or the other thing must be done if they are "ours. " Are we pre pared to admit them as states ? If so , let us of the South , reverse our negro policy , and apologize to the carpet baggers of a generation ago. If we want any more black and tan sovereigns with a hand in the government of our country , let us luck up a row , reverse the supreme court , and with one arm around the' negro , and the other around the Negrito , trample upon the grave of a discarded policy which has character ized the Southern people through all their struggles. Macou ( Ga. ) Tele graph ( Dem. ) .
