TIIE OMAHA. DAILY BEE : TUESDAY , NOVEMBER 22 , 1802.
PADDOCK ON THE CURRENCY
tesmble Views on the Question of national
Pinanoss.
AN ARRAY OF INSTRUCTIVE FACTS
itrorcnr.il I'orcrful View * Showing the Son.
utur 111 lull Accord Wild Kcptibllciiii
Principle--.viand Munny the riiun-
( liitlnn iif 1'ronperltj- .
The following copious notes from n speed
delivered by Senator A. H. Paddock n1
\erdon rcconily will bu ointorost toiNo
brHskans ui ibis time :
Mr , rtiatrinun : It would bo Imnoulbli
fe r anvotio to wnto n correct history of tbi
cuuntrv for the past thirty years , utid par
tli'lilarlv fcjf the period to which i have r > !
fcrrcu , which should not nt tlio tmmo tluio b
n fnltl.ful chronicle of tin splendid recon
utid phenomenal achievements of the roput
lliMii parly. Ono of iho grandest chapter
oft his history must nlwavs ho that \vhlcl
r < cord * th wlso , judicious und bonorabl
munaecmont of Ihu national llnances by ul
npkiullcuti ndtnlnlslrullons.
It will not , bu forgotten that when Ui
lamented Lincoln came into the crusldono.
In 1M11 ihu country was In a moil doplcrabl
llnnnclnl condition.
I Under the opcrntlons of the tariff of ISt
HUH from olbercsusos chargeable to IhddetiH
1 crntic putty our Industries had fallen Into
hlnto or paralysis.
Ono of the most disastrous financial crlsc
Known to any period of our hlstorv hn
happened In 1W7. The consequences of IP !
oolumlty wore an oxuu * . rcuolu on of thoi
which followed the torrlblo crisis of 13IV
Uur blinking institutions , wnoso oxUtonc
was Lascd uprn htuto hiws , wi'fu universal !
In n stnto ( it syncope or worse. Specie na'
monts Imd been suspended. Thuir noln l
MIOS , which worn the solu paper cunoncv (
Uio country at the time , were cither nlli
KPlncr worthless or MO tjenorallj nlscrcditc
ns to bo nejtirlv valueless us n currency.
'i'housands of manufacturing and olhi
business corporations , linns arid Indlvldua
hud hccn forced Into bankruptcy. A larc
nuiiUior ot the HUbsoiviont tools of the sla\
power were representing our government I
iho forcimi service , and thousands of othoi
held executive , Judicial , k-gislutivn and mi
, itnry positions at homo. And wherever en
1 ployed they w re diligent in the use of the
I uflloial ns .veil as their personal Inllueiico i
I I.TO.UO u .sentiment of distrust and ni
I prehension. They proclaimed to the who
I world everywhere , and on nil occasions it
I Intention of the southern states to sccci
I from the union und to make war , If neoe
I sary , to destroy It. The public credit hn
I become so thoroughly unpaired by the ;
I threats of disunion that it was Impossible t
I rnlsei Biiniclont nioni'y from the natural r
I sources of the government for Its net ore
I nary expenses , anil It was nearly Imposslb
I to borrow. An attempt to make u sinull lei
I lu 1 IK ) reunited In success onlv by the pa
I incnlof u rale of interest which , taurn t
I neither with ili'i largo discount trotn par f
I which our bonds \vcro required to bo sol
I umounted to iicurlv IB per cent. No pro :
I ilcnt ever assumed the reins of Rovornmo
I under circumstances so difllcult and HO sei
ous. Thu threat to dissolve the union at
m Ill-unit up tlio cocernmonl had ut length 1 :
cornea terrible rculllv. Great leaders
this movement left the .ilneos held bv the
us members of luo supreme and other fcdci
courts , loft their seats In the two balls
congress , left their positions | as ofllcers
thoarmvnnd navy ( for which service tbi
B had been educated by the government ) ni
went back to thnlr several states to organ I
rebellion nnd war for the destruction of t
union. Finally , the general situation w
simply this :
There was no money In the federal trei
try. Tno government had no credit. The
was no system of revenue which woula pi
"Hiuco money , and one of the greatest reb
ions known to history was already organic
and armed for its destruction.
President , Lincoln at ouco summoned tel
4let the ablest men in statesmanship , t
wisest men in llniinci' , and the bosttnllltii
H'ulont nt.hts command and entered upon I
"
"But eat task of saving the union.
V Hut It ij not my purpose ) in this connect !
to review generally nor in detail the gn
worn In iho way of legislation and admin
( ration of tbo war poriod. And the only i
Joel 1 have in view ut the present moment
to recall In a general way only so much
tlio llnunclal history of republican admin
tratlons , bOL'innliiKwItli that et tlio martyr
president , as Is necessary to show the
murkanlo results of tholr xviso , couragec
nnd patriotic service in this bohalf. Ant
hope to bo able to snow , what 1 bollovo , tl
Itho greatest possible injustice has been de
the republican party by those who h :
" loiutht to discredit and condemn its Iliumc.
polkion generally for partisan purposes.
H The books of thn treasury show that nt
close of the war of'.no rebellion more tl
$0,000,000,000 had been expended In casn
Tatcount ol the expenses tbereof.
H The ascertained dobi of the government
iBKiwns $2,750,481,571.43. 18bU. un
I the splendid tnanagcmont ot ropubllcan
ministrations , this enormous debt bad b
reduced to $1,910,320,745.75 a reduction
* SH7,104.825.08.
Again , in 1SI')5 , according to the oflli
statement of the secretary of the treasury
H date July 1 , 1680 , the annual Interest cha
on the national ( lout was $151.000,000-
round numbers and In 1SS3 it hud been
ducod to t79.210iSl ( , which was a reduct
of about f70,000OuO In the annual mtoi
H charga in IKtoon yoar.t.
And now Iho last treasury statement
.lliu present yenr shows the further photn
eual reduction Iroin 18SO about twc
years ot , : : ! , ' . ) ( , ! ) T. > in the prlnclpa
tlio public debt , anil jo : , V.t5iO In the itnn
Ttntorcst charge thereon.
And here is another ( 'ratifying result :
In IHTil the annual Interest charge '
fllS.ISI.OOOill. of which nmount it was tl
oatlmatod that $ OUOUO,000 wont to
lorolt'n holders of our bonds , Mhowlne t
moro than one-half of all the bonds were tl
hold by foreign owners. It Is safe to
that nearly all the bonded Indebtedness
J the United mates is owned now by our c
'
I uitlzcnsand that interest payments'to fore
I owners lunount to merely a nominal mm.
Or , stated moro exactly :
I Tno result of this muRiilllcont work in
I wuv of roduotlon of the Intcrost-beut
I public debt , as shown by the treasury st
I incnt for July of the present year , is that
HI prlnoipil trioroof has been reduced f
If.,7r > 0tilri7113 : In 1805 to ? : ) S5tSO ) ! ( ) ; )
HI IS'/J , nnd that n corresponding reductio
interest from * 1MOUOUOO In 16io ( to $ . ' ! ) , (
ft7117 has been madu.
H Or , to bo oven moro specific.
The pnncipiil of tlio public debt in IStVi
fd'J.WI per c.i pi I ii , and the Interest chi
was ( \.f \ > per capita , whereas in July of
present vear the principal of the public c
Hpor capita Is f'J.US , and tlio Interest. Is at
itO centH per ciipltu , ana our bonds repros
ing this debt urn almost exclusively ow
m our own country ,
Tbi > ro Is another very remarKable f
und that Is that Oils conscientious obs
mice of all our financial obligations Incur
on account of the great war of the robelll
both In tlio letter and the spirit thereof ,
not only losultcd in this enormous roduc
'tBfof th ° prluclpal ana Interest fit the pu
l KdQUt , but U has at thn snmo ttmu opoiatoi
porninr.cntly establish the low rata of 2
ccnt Interest thus bringing tlio avoi
Mratoon ult our Intercst-boaruiR debt , wl
In ] t > 7Uvna 5 8) per rent , down to about
per cent , soon to boy per cent all aroi
iBHwbllout tbomtma tlmo the average rate
Interest realized Uy the owuors of tl
bands nt the average rurtont price the
iBIln the market during the month of July '
only L'.tH per cent ,
B Anil this ill grsts another phase of
' Isutijoct to which I wish to call the atttn
Hot exrsoldiers :
B SupnoMi iho flat money schemes ndvoc
Vby the urconbackers then and thoallli
. loiiaeiM nnw bad been adopted in placi
Ithourmid buxinrss policy \vhlch I have
scrlocd. The national dubt could not t
lcon reduced und the interest churgo t
IK v > Invariably increased. Hut suppose
EBBirlt > rt'Ki nhargo had ivmuiuod ut f 151 000
[ . tat ) it , wan lu IbOA-our present peiulon sys
' would have been Impossible. Let mo
UVyou * OIMQ lU'urcj in support of this st
[ ' . int'nt ,
| When Ue | vrar closed in ISCTi the pen
r ltchareo was | S,500lk)0. Tlu < g re
I oMntorcst and pensions wns flOii.uoo
I 'J'bu nunslons have , however , iucroa f
[ nearly Jiao.OOO.lHW , ' The Interest and pee
I Mcnaryu toirotbor for Iho past llacal your \
IHB 1174,150,000 , less than $18,000,000 of whli
" liiteruil charge , fc > compared with the
f 1 moat of 1100,000,000 lu 1605 , at the do-
tbo war , vrhcn the interest cbtrco was
tlM,000UOO.
If the mtorcu charRo hntl | remnlnod ikl
ll.M.OOO.OOO. with the proient rcqulremtnti
of i.buut $150.000,000 for pnn lnns. Itvouk
have tnuon $3Wooo,000 to corer tht B tw (
U ms , or moro ihnn tbren-quarlers of nil the
revenuasof tbo govcrnmaut , mnklnp th (
present liberal pension payments an ultei
impossibility.
A croat deal 1ms baon sitd aoout the
numerous Advantages resulting to the HA
tlonnl banks from the privilege flvon turn
to issue currency nolos. I nave had pro
pnrod by ono of tbo nbloit exports In thl
stnto a conip r.illvo calculation a * tn tbi
prolHs rosultlne from the USD of $100,000 b ;
n national bank under this privilege or I
uiod In conoral short tlmo commercial loans
It Is as follows :
inOM Invested at 10 per cent produce * . $11,50
jtl.'i.OO I ItiVMto.l at 4 per cent bonds will
purchase * IOOOJX ( tncoma will
imrn . . 4,000
Clrotilatlng note * ttj.000
I.F3pnr lorit < l ( > imslted
with U. S. Tr. for re
demption fund 4.503
*
Ji\5JO
IT'.r. 0 nt 10 nor cent . . . . B.-WJ
Total antiu tl Income
from bonds und rlrcu-
. latlon 12.530
Less t'tx on circulation. . 000
l.rst cost nf printing , utc. 100
l.i'si anniiiil reduction
prom 1.0T8 2.078
Notineotno 10.4'
1,0.
Otheir smaU Items ot expense nro loclt
maloly chargeable lo this fund , fliicti as lee
nf bnnlt examiner , cost of printing and pill
llMilug five statcmunts each your ; the fee
of nn agent ul Washington to witness the di
stritetlon ol circulating notes unlit for clrci
latlou nnd m.iktnir nnnual examination <
bonds In treasurer's bands , etc.
This statement explains whv it Is that
very large number of naiionnl hanks hav
surrendered their circulation and most ,
not ull others , < ire anxious to do so.
And now , Mr Chairman. I pins to the om
rency branch of this great record.
Theio have bean periodical attempts I
prove that this pirt of ibo financial pollev <
the republican parly has Imel for Its objoi
contractions of the currency for the banel
of Iho capitalistic class , at the expense e
Iho inns' ' ; o ! the puoplo. always since the clo <
of the war lu 1S05. I'o my "notion n irreate
injustice has ncuir been done anv politic :
paitv in the world than this. The mo :
notable of these efforts was in the paulo ye ;
of l Tft nnd n Hula later during the ro'liini
tlon period from 187"i to 1830 nnd the reccr
I may sny the present ouo , because li
force lias not yet expended Itself. It Is
slznlllrant fact that iho sumo nrgumonl
which were used In 18 ! > 0 to sustain the greoi
back policy , then a serious menace to tt
business iuturests ot the nounlry , are no
being employed In support nf Iho theory i
our friends of Iho alliance organization in U
sumo direction. 1" desire , therefore , to brln
Into comparison Ihe state of the curronc
In those several periods lo she
the utter fallacy of this clan
In the regular ollnlnl statement i
the secretary of the treasury of date July
ISM ) , ho placed the wbolo vo''imo of the cu
rency on August 1 , 18115 , nt S'IS'JilS.Os.'i.7 :
which mounted $ I'J:13S,710 : iwo 5 curd note
and ? 1 ! > 3,750OSO compound Inturosl notes a
gregutlng In round numbers ? 2. ! < i.000,00 ( > , co
ce > rulns which hu said that "these i-isui
entered Into circulation but for a few dav
If nt ull. " Deducting these , and wo hav
according to this statement , $740,000,0
as his ostiinuto of the volun
of curroncv for that time , :
against $7i7,73l,5'l5.37 ; the year bofo
the great panic , liut it is to bo rcmembon
that Rreoiibacksoro only worth in 1S05 70
percent , und placing the volume of tbo cu
rency at ? y33,000.000. which Includes , stall
In round numberr. , the Iwo years notes ai
the compound interest notes , the who
purchasing power of the currency in 18
was only JtW.3,000,000 In round numbers , ni
in 1ST ! ! , when the panto came , which al II
tlmo was directly charged to contraction , t !
purchasing pawor of the currency was
per cent on the dollar , and the aggrofta'
value of the currency was Iherefore in roui
numbers $711,000,000 , nn increase , or InII
tlou , Instead of conlractlon , of fully 530,001
000. In 1SSO the purchasing power \va 1
cents , nnd the volume of Iho currency
round tnimliora was f7.15,500,000 , making
still further Increase ofi4,000,000 , or , to
more dotlnHo , un Increase of Ml,000,000 frc
lS < i5 to 1S30 , without counting thn gold whi
was then rapidly returning into the circu
tlon , and had already practically increased
by the addition of nearly $500,000,000 list
result of the resumption of spei
payments , making the currency volume
the treasury and in the circulation for tli
your about ? 1 , 00OOJ,000 , and It has co
stantly increased since. The recent stal
menloflho secretary shows n grand teen
on February 1 , Iti'ii , of $2'J20i77.071 : ,
which f 1,5 5,7.10,851sinco increased overSl
000,000 , was inactive circulation , a ronstc
nnd unvarying increase in the per cap
circulation from 10.23 during the soco
year of Lincoln's adralnlslration to $21 70
February 1 , 18'JTho per capita e'ircuiati
of France Is placed generally ul $45 , bul t
muss of the Froncn people use cbeous i
drafts to n very limited extent , whereas
but about S per cent of the business of t
country Is with such paper , which woi
muko practlcallv a per capita of $25 In c
rency and SX0 ! in cnooks , aggregating $
per capita. Franco cannel therefore
properly used as an example for us.
As I bavo before bald Ibo same aigrmo
which were made In 1880 by our groenbi
friends uro now being repealed by our a
ance friends who think Ihey would bo bo
filed by radically revolutionizing our c
rency , which , as to Its form nt least , I
come to bo considered bv the whole world
about the safest and best over devised
human wisdom.
Our greenback : friends told us then t !
the volume of tbo currency was larger on I
1st day of September , 180.1 , than il over
been at any ono tlmo , and 1 will give yo
statement or table which was widely p
llshod In ono of the toxi books of Iho grc
oaclc party , nnd Is adopted by our alllai
friends now. Undoubtedly many of ;
have soon it. It Is as follows :
United States notes t 4X1,11 ! ! ;
Fractional currency L'll.JIII
National banknotes 18 , " > , oo.
Compound Interest los.U tenders. . L'lT.U'.M
Tenineiriiry loan coi tltleatos J07.I4S
CcMtllleuH'sof indebtedness 83.UV , '
Tro isury notes , Interest bearings
percent 3i53 ( ]
Troiunry notes past duo l,5u ,
HtutobiuiK notes 78.8(1 ( ?
I.ust Usuo 7.Wa SIl'.OOl
Total Ssptombor I , 1883 * I,0'JOOJ (
In answer to this statement , I sav it Is f
cuptlblo of proof , under tbu most liberal i
of estimates that can be possibly made c
slsU'iit with the facts and the record. In
interest of Inflation , as I have before ii
catcd , that the true aggregate of the voli
of currency lu actual circulation at the t
named was considerably less ihnn $ $00 0
OOJ , Instead of $ llKMi.lJT8.770 , as stc
In the taule which I have road to j
In order to make up this last onorin
aegregnto the 7.tO'B ! ' , tiSO.000,000 ; the cor
cafes of indebtedness , In round numb
fS5,00),000 ; the compound Interest le
tenders , in rouna mimbis , $ J17,000,000 ;
temporary loan certificates , ? 107.00jiioo ,
the 5 per cent irousurv notft , ? ; j'JoooOOi
state Uioio last two Items In round nuint
also ) , nil Interest-bearing ; are brought boi
Into the calculation , when It is a welt knt
fuel that they were all largely bold by
vestore , and out of circulation. It u t
thai a part of those Issues bad tbi\ legal 1
dor capacity , and so has gold this cburac
Istle alwavs , but when gold Is at n premi
of even a fraction of 1 per cent it Is
found at all In the currjnor. And go iti
in a large degree with these several
deuces of Indebtedness. In IBM compo
interest notes ana 7 JiO's wlta accrued In
est were at a premium , and for ev
reason were much less likely to
used as currency ' .ban even the 4
cent bonds now nro ; for the higher the i
of Interest of a time evidence of indebtodi
of undoubted character thn moro liable I
to bo hourded by Investors , particular !
id the accrued interest Is considerabto and i
30 slur liy to mature. It Is prnb.it.ly true , hi
3f over , that in IStto the banks hold samou
0. of these Itsuts as n part of their recurve :
10 required by law , but the report of
st comptroller of iho currency for I
10 j ear shows that the total amount nf tbo b
0.Ill reserve was only $50,3115,701. Uudoubto
Ill too , they were puld out to some extent
re mediately after their tint Issue , but as e
B- AS any Interest accrued they wont into
bands ot li.vostors , und tueuco worn tun
) n Into long term bonds. Kveo Mr , K.
to iSpauldluir , who used to ba quoted by
0.to greenback friunds blmiolf n rigid cant
to tlonlu wben arguing against lnlutionit |
toU the strongcit statement pcuslbla for hit
ru maUo aa to tbo excessive volume of the
ruy roney , and yet bo only s tale J It aiS50OOC
y- in IbQS. If it had been possible far bli
yet have uiado It $1,000,000,000 hu certainly wi
have done BO to strengthen hli ( vrgumonl
Bsnlnst infUtlon.
llo.bellovcd the volums ot the curronoi
then too Urge , and wanted it reducoo by re
tiring the groenbaok * .
In the llnnncn report of the secretary o
the treasury for 1365 Mr. MoOullooh sayi
the papar circulation of the United Slntos ot
the Ulst of October was substantially n * fol
lows ;
United Stntoi notes iul frao-
tlon.il currency SI.M.ai'WH 5
Note * nf national banks. . 1S.VUWMJ o
Note. * of * late bank * , Inoimllnz
nutstundlnu l * < ue * of state
bunks coavortcd Into nation tl
bunk notes tVi.OOJ.'UO ' 0
Total J7J .3l8OjTs
In addition to the United States note
there were also outstanding J'Ji.fiHrt.OOO fi pe
cent treasury notes and $173,01'HO ! com
pound into rust notes , ot which It would undoubtedly
doubtodly bo safe lo estimate Umt&'D.UOtt.OO
wc.ru In circulation as cunroncy. The jiapfl
money of the country actively In the clrcu
latlon October III , ISOo , was , therefore
| 7.14.2ISoiS.20. :
Of all the very able men who In those dny
wrote upon the subject of tlnunco nrgtiln
against Inflation , and who would have nut
urnlly stnled the cao a * stronftlviu the fact
would warrant to Justify their contentlo
thai ihu volume ot tuo curioncy was the
too largo , not ono placed the nama in Ibu
so high , Into J 1,000.000,000 , us do ou
greenback friends In the statement thn
I have given you , of about $ , ' ,000,000,001
Neither Spauldmg nor Fawcctt , nllhoue
Iho statement ot luo fuller R most liberal c
all , nor McCulloch , nor Fossendon , no
Orooloy , nor Gary.
1 do not mean lo ho understood by thl
statement as going furthar Ihnn to cndors
the republican policy of debt-paying nn
currency-protection ns wlsa and nccessar
under the circumstance * in which wo wcr
then placed , nnd to show that 11 did not re
suit In a contraction of the ctirrencv.
As 1 have before stated , the iircalcst leac
ors of the party charged with the conduct c
administration renll/td the Importance c
strengthening In every possible way th
national credit , whioa had been so sc
veruly Hlralncd by the war domnnds. The
kunw that It was necessary to brine dow
the Intcroit rate ; on our enormou ) publl
debt , which was n grout burden to Th
people. They understood oho very we
that the lower Iho government , intores
the stronger the trend alwaj
to lower ralCH for tbo Individual borrowei
They knew that the surest way to gain
strong credit was to roliglouslv observe th
spirit as well as the letter of all contract :
particularly as to the character of the inone
in which payment was to bo made , and whet
over there was any accumulation of surolu
revenues to apply tho-ii to a reduction of tli
debt , whether duo or not. Their hone ;
efforts In this direction , ns 1 hav
abown , have nt length given u
a financial standing second to r
other nation nud reduced our in torostnocoui
to the minimum in both volume ana ralr
Indsed our success in reducing our publ
debt , principal and Interest , has won for i
the admiration of nil nations , while nt It
same time it has Increased our own pride <
country , our national confidence and scl
respect.
Our currency had been domorallzod for
long time , Tbo demands of the war pent
for vast sums which wo did not ba\
had compelled us to barrow , ar
when wo could not borrow
manufacture mcnov. Wo bud i
wav to make it except by the use of papi
nnd printur's ink. Thi ? was nn easy methoi
both ns to the labor and tlio material ot )
ployed indeed , It was dangerously oasj
dangerously cheap. This currency was n
ways uncurtain , both as to volume an
character , and It was sure to become vei
soon an utterly valueless measure of vain
If adheroii to. Certain bankruptcy and rui
were ahead ot u * only a little way if v
should jueeumn to the snare and delusion
Hat tnor.cv , which had taken possession
tbo minds of many and was a uonstu
menace to the country. The wlsdo
and courage ol tbo rcpublici
policies in that period of doubt und u
certainty , when there was a strong popul
inclination to conlinuo nnd enlarge ir.de
nitoly the volume of our Irredeemable cu
renov , suvod the country from banteruptc
The republican partv was determined the
as it Is now , to h ave a currency , every di
lar of which should bo recognised all ov
the world to ho as coed as any other hone
dollar. Bv Ibis polio ; it has saved Ihousan
ot millions directly nnd indirectly to the gc
ornmont.and to the people in Iheir mdividu
financial Iransactions.
This , In my Judgment , has been a great
service to the agricultural than to unv oth
Industrial Interest. In support of this vie
1 desire to read briefly from an agncultui
address delivered at Fairbury by mo
1S73 when the greenback craze was
and n great opposition to * the i
demption of specie payments had arise
nf Vnlue.
"Of all the people In this bread land ,
ono is more interested in the stability of t
standard or measurement of values th
thosa who are engaged In agricultural pi
suits. Tulso Nobrusku , which Is stric
speaking an agricultural state , for an ill
tration. Our products are principally broi
s tuffs and meats. For those gold or
equivalent is paid al tbo foreign common :
centers whence those articles are d
trlbutod for consumption ; out noltl
this gold paid by the foreign ci
sumer nor Us equivalent Is ei
seen by us If our ourrouoy at home , up
which ull our transactions are bused , u i
predated. By Just so much as it is duprc
atcd do wo recaitre less than the actual va !
of our products to Ibo consumer , for befi
it readies us il has to bei sifted through I
coin stove , nnd there is left for us only
predated greenbacks , out of which wo sli
have first paid in the cost of production fr
the time Iho ground ii prepared for the se
through the season of pluutmg , oultivat
and harvest , and for the transmission of
resulting products , in whatever form sbipp
to the consumer , throuuh Iho hands of mi
middlemen who chiefly prollt oy such pre
turns , tbo discount for gold charged on si
depreciated currency. Whatever the c
count may bo , the farmer has finally to j
nearly or quite all of It. The shippers c
the commission men lo protect thomsel
ngninsl iho constant fluctuations In curroi
values always charge the producer n 111
moru than Iho dlscouni itself costs the
Every Irregularity In the exchanges ui
them nn excuse to add a llttlo more than
relative increase of cosl resulting therein
which generally Increase * their prollt ut
expense of tbo producer. The chancoa
cldent to the element of variableness-
ways a characteristic of an irrodeema
currency are nicely calculated for the [
lection of Iho middlemen everywhere ; i
this calculation almost always results
o these chances running agalnat the farmer
the blanks In a lottery always run aval
the ticket holders.
o "In addition to this , the farmer uiv
pay on everything ho buys tils coffee ,
ton , bis sugar , his clothing for himself i
futility the dlscouni for gold which
merchant and manufacturers ure fl
obliged lo pay ou n depreciated curren
and afterwards for that reason compel
lo charge over against the consumer. Ni
I insist , If ours and the counti
to which wo have been selling could
have boon hold to a uniform standare
values for the past few yean , willi our o
renov al par wiih cold , the fanner in J
bniska would have received at his funr
much In gold or Its equivalent an ho roi
ha received during that period In ere
bucks , and so suvod ibo premiums cuar ,
everywhere all along tbo extended II
from Iho tlmo the ground was prepared
the seed to the delivery of tbo product , i
the return to him of tlio money paid there
by tbo foreign consumer , besl'des very mi
dollars of currency discounts paid ov
your on the necessaries of life purchased
the use of himself and family.
"There is yet another consideration ; Ci
till will not cease to bo hoarded , partlculn
will It not freely go Into real estate , so li
as there Is any doubt whatever about
currency. So long as the currency may
pear to bo permanently at a discount
gold , capital will be withheld from such
vestments. Capital Is Unild , You can
roiwluco Its owner , whether he has 11 ,
saved us tbo result of bis Industry and tbi
or $1,000,000 amassed by a Hie of great ell
and ceiual economy , and the former U ac ;
tullstns well as the latter , that there Is
yet a lower depth of dlstrois lower yol
yet to como for everything , until tbo COUB
has fairly and fully aim squarely str
upon a coin bottom , Vi'hnn that point il
bavo Been securely reached confidence '
be fully restored and there will bo a ru
appreciation of the values uf real propo
ns well as a natural.- healthy , permanent
predatlon in the value of labor and all
products. Already wo have proof of the <
rsotuesi of ihl proposition In tbeoxporle
of tbo present year. Proportionally as
difference between gold and greenbacks
narrowed down , each day bringing the c
of roMimpllon nearer to P.X , real citato In
vestments inaurslatohavolnrroaied. Thous
ands of dollars Imvrf giJne Into tnrms , Into
Improved Und. * nnd locr-fir Nebraska , lint
ycur , that would havp not boon so Invested
but tor iho crcat change Iti our fiscal conill
tlon * reiulllng from Hid comparative ccr
taintv of rosumpllnn In r , ( ow month * , nt tht
late l. Mnny enterprise * all over the coun <
try have been lnnucurnte.il thl * year thai
would not anil uould not have been coin.
mcnccd but or the ctiqip ning of business
facilities and Improvement in buslncs :
method. * resulting frotu thl * rapid apprccia
lion nnd near approach to p'ar In gold of th ;
value of greenbacks.Vo are at iho verj
open door of resumption ; lot us not turr
from It. Vorlly It I * today the iruo socrol o
our growing prosperity , the verv ground c
our hope for iho rapid dovcloptnonl nnd up
building nf our state. For along with I
comes , us I have before saul , Increased ablt
ity to successfully compote for the com
111 or co nnd the trade ot iho world , and thu
to command the necessary marKets fir oui
products.
" 1 liuva spoken of the Idea entertained b ;
rannr that the volume of our present cur
rency should bo Increased , or that somcthlni
else , nliko Irredeemable In character , Inter
convertible with It , should bo authorized
Now , wo nro all of us moro or los * familla
with the greenback.Vollkolt - , wo bellov
In it. Human Ingenuity never doviscd i
bolter currJncv , it wo ourselvei deal Justl ;
by It. Our duly I * to make every dollar o
U n true nnd honnst dollar , and this can enl ;
bo done by adopting buch n pniloy lu roun
to It as will place the government In n post
tlon ntwavs , on demand , to faithfully pot
form ibo promise of redemption tbo p.ipe
Itself convoys to every ono who buys i
dollar of It with Ills libor or the product
thereof In any form whatsoever , I. o. , togiv
In oxchaneo for It exactly so much of con
ns II ha * cost n dollar to produce. All ox
pcrlonco hath shown ' .tut the mudium of ox
chancethe measure of value whotlior I
bo used for whrut or corn or port : or nn.v
thing else , must bo such n thing us In nnd o
itself , by the napitiil anil skill nnd labo :
nccowiry und actually UsedIn pro
ducing it , is the relative equal of th
commodity nionsurcd in respect of th
employment ot those very faculUo
and properties In the production ot such com
modllv , olho'wise ll will possess tbo clcmcn
of variableness , or bo nllatitlous or n fraudu
lent measure In exact dcgrco us It nosscssc
loss ot these essential churdctoristlcs of i
true dollar , for tuo exact rule of exchangi
every where is labor for labor. "
Mln-r , cte1. , In lU-lntlon to Ciirnincy.
Now , Air. Chairman , In my opinion th
trouble about Mio prosonl situation Is not s
much from thn insufficiency of tno pros on
volume as U is from the insufllcionov of tin
metal money basla for Iho currency roqulroi
oy our own and ull the other countries of th
world.
As the tbrlttv father said to his son , "taU
care of the pennies and the dollars will tak
care of IhomsolvoV so I think that if w
will take oare of the currency basis th
volume will take care of Itself.
lu this connection , and bccnuso of Its intl
mate relation to the general sMbJect of th
currency , I desire to briefly review n fov
chapters of the past history" the mono.
metals.
As to the causes which led up to the dt
raonotlratlon of silver , my vluws nra somewhat
'
what elilToront from those'onturtainod by ou
Ml'imco and radical silver friends.
Kong before the acts oft 573 and ! S74whe
Ills claimed thai silver was formally demone
tued in this country , it began to pass into
state of nonusu as n money uf commerce i
all tno great commercial nations , The ac
of 18. > :5 : was substantially a statutory admls
sion of this fui't.
Commercial transactions had becorao s
enormous with the increase of population
and the consequent | growth Of commerce
competitions had become so sharp and tb
mnrelns of profits so small , thul Iho coin mi
dlum of exchange which could be handloc
stored and irana ported from ouo country cone
ono commercial center 'to another mo ;
cheaply , when the stale of the exchange
was such us to rcquiro coin shipments , we
naturally employed.
And , therefore , in duo course this bocan
the rule ; because It was soon discovered thi
ho who employed Iho dearer medium in sue
cases could not successfully compels wit
those who employed the cheaper.
< Jold accordingly < under those rapid
changing commercial conditions came to I
more and moro and finally ultogoihor usoi
and so the -,110 of silver , on account of li
greater relative woigla and bull : with tl
resulting greater expense in u ing , fell o
moru and mure , ui'd ra'iuullv passed o
lirely out of service for this among1 11
prouicst of nil coin uses. This nonuse al :
operated to lesson Its value as n meaeuro
values , because the demund for com merclalu ;
becoming less r.nd loss nnu finally eeasli
limitations , und finally suspensions , of i
courage resulted , first in England nnd Gc
many and afterwards in the other counlrk
This was the state of silver when our mm
criticised so-called actof deraoueiizailon w
passed.
True , oflr coinngo of silver dollars up
1873 had been comparatively light , but silv
under the process of demonetization In oth
countries was passing rapidly into t
state of a commodity , and our tn'in
under the rule of coinage then .0
mining were believed to be In danger
flooding from this great volume which
the > e countries had fallen into disuse with
constant trend to a lower level of value.
At tbo beginning , therefore , it was a co
morclal condition a commercial evolution
and not a capitalistic theory which was r
sponslblo for the discredit und resulting el
) monetlzatlon of silver. Later , undoubted )
) capital took advantage of tbo situation
3 appreciate the value of gold , but probub
apprehension , next to the Increased commi
I clul use of gold , bad moro to do with the i
i sull than speculation. Albeit , tbo incontes
1 ble fact stands that there has buon un em
Increased duraand for gold from I
Ine-rnasod commerce of the world for acti
use in its exchanges on account of tbo m
use df silver. To Ihis there has nl o bo
added the extruordinurll.v Increased doma
for gold as the basis of commercial cred
correspondingly increased. Then there ha
como enormously increased demands fn
the great governments of the world
strengthen their rojorvcs und currency ha ;
and for debt and interest payments , etc. , a
also vastly Increased demands for tno pi
tectlon ol untold millions of bcnda and ou
securities issued by status , municipnliti
corporations , etc. , for which cold payrnun
principal and interest , were 'pledged , on i
count of the displacement of Mlvcr , The f
lowing statement from the eminent politli
economist , Bolsscvuin , In which ho adoj
the calculations of that able statistician , I
Soetbeor , confirms this view. Ho savs :
"According to calculations based upon I
Soetlbcur's ' figures , there hare arisen in t
years 1870 to 18 5 , now demands for cold
Uormaiiy , the United States , the Scan
nuvlan klncdom and Italy , which , lab
ulono , exceed the amount of the product !
of that metal In the sumo period ( after mi
ing dnduotlon for all the industrial einpli
inent and for the * exportation to the east )
tbo sum of n milliard of francs ( aboUt | jC
000,000) ) m round numbers thai Is by aoi
u sixteenth of the total amount of ci
money , which , toward the cud of thai peril
had oeon distributed lUgEuropo , the Uiiil
States and Australia. . , . , .
"It follows , tlinu , ttiat.ln the other coi
trios lakou together nbfonly can there ha
boon no augmentation bf gold currency di
Ing the said period , but tbo above named u
Hard must have been jaUan from their in <
etury clroulntlnn. And.besides , of then
demands I have only tukun Into accoi
those of the four countrlbrf above mentlom
along with wulnh , however , there must he
been similar demands < | 'rom other quarters
And now , Mr. Chairjqaf } , the growth
tbo business world sfcco silver was prac
oally demonetized has' been immense , aim
bovoud the power of hum'an calculation , a
it all rests upon a duals ot gold , which
growing thinner and thinner relatively ovt
month. " There is a universal hurry a
scurry and strife between the nations to
cure from thogcnorul'stbrb moro gofel on
and all roalulng that wlion the pressure
Increased demand frouvrouowod commurc
activity , or as may happen from Increas
distrust Rud loss of confidence , comes I
supply will suddenly bo found absolutely i
adequate to meet It.
There Is nothing like enough now lo
around , It Is now apparent totbouh
world that It has got to uu largely supj ;
monttd b ; something else , This cannot
done , as some of our friends think , by
unlimited Issue of irredeemable treasury
any other paper currency. That would 01
asgravate present evils. It would only
crease tbo dangers of the situation ,
would be Ilka building a six-story house
a foundation strong enoutrh only for
structure of two stories , When the sio
should como it would uuroiy fall of Its o
weight and crush ovoryboSv and ovoryth
under It , J'ho ullver of iho worlu must
11 rehabilitated as money and brought Into
.0 J world's currency. How 4s this to bo ao
If you will stand br the republican part ;
nnd re-elect President Harrison a way wll
bo found. Wo ore nlruidv started on th
right track by the creation of nn tutorna
tiunnl inonoturr commission , Wo mus
bring the world to our Idea , nnd ll is comln
rnnldly. fjtit It wo cntnint accomplish thl
Rflcr n pttlcnt , conservative nnd porslslcn
effort , wo may bo able to discover some ser
of horolo remedy to rollavo the patient. I
any event , 1 , fnr ono. am In favor of kocpln
n stiff upper Up. WP ought to try to cot
vlnco iho world lhat wo are determined t
rehabilitate silver , nnd to do It in such u wn
ns will bp safe for oursnlvcs und all th
great commercial nations , nnd which wl
make It absolutely necessary for thorn t
Join us. The ropubllcan party will find
suto nnd sum way before long , Just as I
tlmo past It ha * always found n way t
iTitijflho country out of every troublo.
Ono thing Is certain , wo cannot safely nd
another hair's womht through nn Increase (
our paper currency to tno over .strain no1
upon the goU supply of the world. Silve
Under present conditions , Is not nn Intern
ttonal inonov , not n money of comuiorco. . '
Is a dead weight. In this country gold hr
to stand as guarantor so to speak for si
vor's contracts. Therefore , silver not enl
does not help , but adds to gold's burden
Gold Is notonlv required to do Its own , bl
'ho work of silver us well. Silver must I
trengthened so ns lo bo nblo not , only i
Und alone , but to do n full and equal day
work with gold In transacting the world
nisinois mul support ! its vast credit fabrl
? OT this purpose every dollar o * It mil
it.ado equal to every other hone
ollnr of every kind , Such dollars as it
reposed to put out under the sublroasui
Ian of our alliance friends would all
urthor weaken gold nnd place now obst
lei In the way of tliorehubUllntior. of sllvc
ny assault upon gonornl canlldenco taxi
ho strength of gold anil Increases the porl
if the currency und business situation , ur
his scheme would bo a positive Injury ti
lead of n help to the verv Interest sought
10 benefited , because it would urovo a dl
urblng , n confidence-destroying factor ,
vould retard the movement tn support of tl
'orv interest sounht to bo advanced.
Now In order that wo may bjtter undo
land what our Interest in the moiioy meta
s. lot us see exactly how the account stain
vith these met nis :
'he world's proliutnfUlvurstatcd
In ounce * , for bill. w. s inVjOC
'ho American requite-
ments for home use
W010 !
'urcliiisc ' * under the not
of ISM , 4.VJJOOJ minces
per month . .
sed In the art- * .
Total ni.oyi.ooo
SOI American uroiluet. . ris.nj.OJU :
K\C039 Ot llOllll ) Hsu
over homo product. r > ,67iOW ) )
liiropniin reiiulruinunti
for thn nils 20,050.000
orcotnaite In till coun
tries outside the United
States 60.0)0,000
Iiikln" all uses onUltlo
tliul'nltoil i-t.xtos SO.000,000
VII uses In the United
States 04,000,000
Total world'use. . . . . IM.LOO.OOO 153.000.C
Total world's excess
of uses over produc-
tletn In IHU O.MO.C
'ot.il btoclt of gold In the principal
countries of the world i.'l.7ll.843.f
Total slock of sIHor al.'J,578l '
Total sold nnd silvur S7rr > l,42U :
I think it is a self-evident proposition th
f the world's stock of silver available f
iolniujo could bo giadually brought to p
and added to the presont'volumo of gold cu
oiicy there would not bo n dollar too mui
'nr the world's requirements for our co
itnntly Increasing money us.es. To rocaplt
ute : Wo have seen how enormously the
requirements bavo Increased from the bu ;
ness growth of the recent past. Wo ha
ienn from the statement of Ur. bootbce
idopted by Mr. lioibsovain. which is at lea
? good nut'aorltv ' as Is obtainable nnywhc
in the whole world , that Increased douinn
upon the world's store of gold from 1870
SS5 , from only four countries , exceeded ti
production for lhal period by moro ihi
$200,000,000 , Wo have seen by the autho
tatlve estimates I have given that the a
nuul excess In thn use of silver beyond t
amount annually produced In this count
is about 5.000,000 ounces and thai Hie wsrle
uses exceed its annual production bv abe
0,500,000 ounc-js. TUis annual deficit , ma
lug a reasonable allowance for mcroased pi
ductlon , even without any additional doma
for money uses , cannot very material
diminish. The United States produces
little moro tnan iwo-llfths of the ontl
product of the world. Wo own more th
ona-savonth of the entire stock of the worli
silver. Wo used at homo about 5,000 , (
ounces moro than wu produced last ve ;
although our product for 1891 was larger
: i,830,000 ounces than It was In 1S9J. T
business safety of our country requii
that our gold money shall bo lari
IV supplemented in some matin
Ono of the most important of our Amoric
industries is the production of silver. Neij
boring slates with which wo bavo a v <
largo and remunerative commerce , whose I
teroats nnd our. uro In many respects loot
cal , nro among the largest producers oft
ver lu the United States. It IB , thereto
manifestly our Interest , both generally n
locally considered , and our duty as well ,
stand for the bimetallic standard , and to
sisl on the earliest possible conservative
habllltation of silver. But wo must advat
to this rosull with such careful constdc
tlon and prudence of method ai not to ei
turb for a moment the true measurement
values. This I understand to bo exactly 1
republican doctrine as enunciated bv I
Minneapolis convention. In consonnnco'w
Ihis view the president has invited Iho gr
commercial natluns chiefly interested , o
they have nccopted bis invitation , to t
monetary conference , which Is lo consii
Ibis whole subject matter , und it Is hor.
nnd bollovod that some action favora'jle
our view will be taken. It is certainly
'
move in the right direction , und cannot'1
to provo useful. It Is not to bo cxpec
that It will rosull in oponiiitr al once all
minis of ' .he world to the free and unliml
coinage of Mlvor. Indeed this wo
not bo wlso. If wo can sec
at first a consensus of the natii
us to a common ratio of value botwi
gold and silver , and a general admission
to the desirability of ultimate free und i
limited coinage bv all , wo shall soon afl
ward * find tbo way clear for a rapid and
enduring advance all along the line. 'J
issue ns 10 the ratio seems to have nurrov
down between the Freneb ratio of 1 to 1
and the American ratio of 1 to 10. A
olher is not likely oven to be considered
the conference , because none olher Is pt
tlcable or possible. Wo sometimes hoar
opinion expressed lhat tbo best way to sol
the coinaga controversy is U put sil
enough into Ibe silver'dollar to make il
once equal In value to the gold dollar. If
ratio of 1 of gold to 10 of silver should
changed even to 1 to0 nn entire rccoln
of all cur silver dollars would ho immcdlat
required. Wo have in this country noa
$000,000,000 of sliver in money use. 'I ho
creiiied weight of silver required for t
new dollar , if all should bo rccoincd , wo
cause a shrinkage or contraction of m
than $100.000,000. If the ratio bhn
bo changed so us to rcquiro an amount
silver cqub.1 in commercial valuu to
present gold dollar It would cause an Imi
dlalo shrinkage or contraction of moru tl
J DO.OOO.OOO. This would produce sue !
financial panto as wo have uovor been ,
would cost the United States and Fra
together In the way of contraction more tl
$100,000,000. The world's shrinkage un
this ratio , if subsidiary coins were also con
What Is It ?
In point of fact it is th
freedom from poisonous an
spurious ingredients , the cj
cellence in flavor which give
to Dr. Price's Delicious Fla\
oring Extracts of Vanill ;
Orange , Lemon , etc. , thei
wide popularity and increa ;
ing sale.
The retail grocers are learnin
that quality rather than pric
is. necessary to retain th
confidence of customers an
make a successful business.
rod , would be so great nt to require thre
cars of the entire world'H production o
inth gold and silver to make It UP , and loni
icforo It should bo accomplished tbo sllvc
ollnr would con.mnnd a largo premium to
gold.Mr.
Mr. Chairman , il Is thounrcn.ulrod surplu
f any commodity or thlnn for which thor
s no purchntor which d prcisos Us price
t Is the MtUu ot the chance * or prob.i
illltlcs of the sale of such surplus from da ;
oelitythat makes the market prlco. Ihi
s f'llly itlustr.iteid by our whoU market. I
s the 10 per cent , or whatever It may bo , I
he w&v ot surplus which we can neither us
lorscll at home , and for which wo must fin
i foreign market , that makes the prloo To
ho whole ' , .
The ratio permanently settled by th
mtlons lo bo topresonted In the oontrronc
nt either 1 to l.V , or 1 to ll ) , und an tncrons
n the demand lor uses of silver money I
ICuropo. It cqiil only to our purchase
ofl.uJO.UOO ounces monthly , would mail
such u draft ou . the surplus silver <
the world as to cause Us prleo to RMdtull
and naturally advance to par. And when
should reach par ihroiiRU such a method
would .stav there , II would bccomo u crei
reserve money , thus relieving gold In n lar
dccroa for roiorvo ilsoa. l oopl In the sill
sldmry denominations silver cixn never hi
como n free clriulatlni ? roln , Indeed , tl
silver dollar In Us currency use * at the prtu
out tuna Is ru'her of the nature ot n sut
sldiurv coin. It Is too cumbur onio , U
icavy to bo over uifnln used , oven In enl
lary transnutlons , except In small sums 111
Us value for reserve und other fiduciary pu
osos , when once nccoptod , will bo porin
ontly and uimltdrablv established ut p ;
with cold , and every dollar thus used wl
contribute nn additional dollar to Iho world
currency.
1 voted for the act of 1500 , under whlc
A.T , > 0tlKX ( ) o'lticus of silver bullion nro pu
chased each month , 1 now incline to tt
opinion that It would bo bolter to com ull i
our homo product , under certain limitation
than lo continue these purchases Thahott
product of last year only o.xeoedml these pu
chases of bulllo'i ' bv about -1,000,000 oiinco-t.
The paper currency Issued for this tnillie
is pavublo In cold and bllvor , ut thu option i
Iho owner. This Is another lax upon 01
limited olei supply , whlrh helps to incroai
the p.'rils of tno present financial sltuattoi
It operates to depress rather than apprcciin
the prlco ot silver , because the characteil
tlo of coin money for It Is not rec.ciil/ci
und , second , while dealt lu us a com mod 11
only , U Is not no dealt In lu vJllclcnl quui
lltv to reduce the burplus to the point whei
appreciation in value must commenco. 1 I
cllno to the beli'if , therefore , that il won !
bo safer for the Rovcrtimont und the peep
Konornllv , includliiK the producer i
silver himself , nnd bettor for the current :
In the lonz run , to pay for our lion
bullion with the silver dollar coined 01
of It , with limitations as to Us loeal tendi
use , and with the authority to Issue ce
titlcutos thetcon , payable In gold us well i
silver , only In tlio discretion of the secrotnt
of tha , treasury. I urn in fuvor of blraetii
llsm.
I am in favor of the free nnd unlimltc
coinage of both gold und silver ns n princ
pie , bul as a matter of eovernmental policy
am not lu favor of this country nctitm aloi
for unlimited free coinnco nt the prcaci
limn. U has been stated thai 1 voted fi
the free nud unlimited coinage bill in tl
lasl session of congress. This Is not tru
1 was paired with Iionntor Gibson of Mnr
land who was for tno bill \vhilol was analn
It. Hoio Is the letter staliiie our pair :
Julv IH , lb'li.--IIon. A. B. I'addocif , Unite
States Senate My Dear Sir. The "pnli
between un , as arriURcd by Senator CJorinr
with yoj , was entirely in accord with n
views on the "silver bill. " 1 was In favor
It. you were opposed to it. You > -s voi
"
truly , CJiiMH.i > H. Gin ov.
If , however , there is a refusal in the co
forence to favorably consider some plan lee
IIIK to the amelioration of Iho present hui
conditions resulting from the exclusion
silver from the world's money of commerc
I shall bo lu favor of sucti n policy on tl
part of this country , on safe und Innopen
out lines , us shall appear to bo bc.st calc
Idled to mitigate pre.sent evils.
But I do not think It will ssrve any ROI
purpose at this ' . .linelo nnilulp < Uu failure i
the port of the conference , nnd propose rein
ales iu advance of tbo fact.
XO\IIDO : , Iowa , April 10 , 1SU1.
Dr. J. B. Moore , DaarSlr : My wife h
used noout six bottles of your Tree of Ll
and thinks that she has received irout
benofll from it than any medicine she li
over taken. Yours truly , L H. Bi TKIV.
Gon'l Agent mid Treas. West Colieco.
Since receiving the above testlmonlnl , I a
In recelpl of a letter nnd check from the He
L. . II. Luflcin of Toledo , Iowa. April :25. :
send [ lev. J. W. IConworth , Crestline , Iva
sas. six Pottles of Moore's Tree of Life.
Korsulo by orutrsists.
" It makei n
tired. ' People m
me ) is murriaj
n failure i C
course 'fain
s'poso I don _
] ; po\v my biz
nhat mil I he
for < " If tliow
men only koe
healthy they Ice
in good spiri
nnd cupid is
el o mu n d L
every cnfeebl
woman know tl
there's a rcinei
that'll cure lit
the proof's iw
tivo. It eloes what ig promised.
Hero's the proof if it doesn't elo you RO
within reasonable time , report the fnet to
makers nud get your money back without
woiel but you won't do it I
The lemedy is Dr. ricif-o's Fnvorlto T :
scrlptlon and it I'.iib proved itself the rig
remedy in nearly every c-aso of fomulo w w
ness. It is not n miracle. Itou't n
overytliln but it has elouo inoro to bu
up enfeebled and broken-down women th
any either medicine known.
Are
Tl CLOAKS MesOVZRCOAl !
Thu/ And Cost Less Moiie
the AH LATEST FASHIONS a !
1520 Farnam St. , Cor. I6lh ,
I.aily Cleilio In nttondnncc.
SPECIAL SALE W
llrlng this ad. to get upenl it prleus.
To all owncirsof loth or p-trtsof lots on Wi
\\e > rtli itvenuu from Hucond Btreeit tn Hi
blnmi :
Vein me huroby notlllod that the inn
signed , tli i eu dlxlptuiojlud frireholderH of
city of Uiiuihu , huvu lieieu duly uppulnlud
tli n mayor , with Iho approval ut thu rltyro
ell of salil city , to uws * the ( laniard to
owneirs ro < puetlvuly of thu pinpurt viilfui
by the t-Tidoof Woiilworth avenue , from . '
oiid Htruut to Sixth sireet , iluclareid nuuesH
by ordinance No. : : ill. PIHSIM ! .Nov umber 1 ,
aiiproviMl Novuiubur II. IM . ' .
ion am further nutlllod , that havluz
routed mild appointment , und duly iiuull
lib requited by Uw , wo will , ou lhui in du
Novembur , A. l > . Ib'X' ' , at tl > u hour of r.o'el
In the aflenioon ut f he > oflleonf lieor.
1'aiil , iri < A l < 'urnaiu btruct. within tliocorpoi
limits of s nd I'liy , mi/ut for the purpos
cciulder iu nnd mukin'J ! thei IIHSI-K-IIIIDII
il.iliia ii to lliu owneri ruipuotlvely , of i
property , nfTet'ted liy said i-liair.'o of ur
uklnz Into comlderatlou speclut benvflt
uuy ,
) on ure ) notified to bu ptusent at thu t
und place ) afoiusald , unel niiii.u miy object
lo or stalenienlu coneurn nv. sild mscssn
of dumuKef , uu you may consider proper.
HKOHUB.I. 1'AlJU
WILLIAM ( i. KIIKIVKR
IL W. lillloON.
Omaha , .Nov. 15 , IbUJ.
Will cute You , la n , true stntemetit ot tlio
action ot AVER'S Sar.snpnrilln , when
taken for ellseascs originating In Impure
blood ; but.vlillo this nsscrtlon Is trtioot
AVER'S Sarsapattllii , ns tluiiisnnds can
attoM , It cnnuot bo tiutlitutly applied to
other preparations , which t'C | rlnclpled
dealers will recommend , nud try to Im
pose upon you , as "just ns good ns
Ayev'd. " Tukn Aj cr's Sarsniurllln nnd
Aycr's only , If jou need a blood-purifier
nnd uould bu liuiu'llted permanently.
This mcdleinc , for nearly fllty years ,
1ms ctijeiyed n leptitntlnn , and made a
rce'ord for elites , that has never heeu
pilttalott by other preparations. AVER'S
Sni.supaillla crndleutos the tuint of he
reditary soiotula nnd otlu r Mood ells-
oases from the system , mid it 1ms , eloser-
vedly , tlio ronlldpiieo eil the jieoplo.
"I e'linuot forbear to expiess my joy al
the relief 1 have1 obtained from tlin use
of AYKIl'S Su.siinnillln. : I was mlllcted
with kidney troubles for about six
mouths , suffi'tiiiK xiently with pains In
the. siunll eif my liui'k. In addition to
this , my body was covered with pimply
eruptions. Tlio icmedles prescilbcd
failed tn help mi ) . I then l > emti to take
AYKlt'S Suisaparillii , nud , In n Miort
time , the pains ceased and the pimples
ili.sappeaieil. I advisee-very young mnti
or wemmll , in cuso of sk-liticss le.sult-
inp from inipiiro lilood. no matter how
long HtnndliiK the case may ho , to take
AYKK'SSaMnparilln h.Jarmtinn ,
3tf William st. , New York City.
red hj Ur. J. O. Ayer St Co. , l.owe-11 , Mass.
-ISYE
fill. II O WIWS NKIIVK AND IIIU1N TltKAT-
luenl. a Bipcllli'for | My tL-rlu. 11I//IMO , I'lln , Mm-
rnluln , llenilaclie. Ni-rvoin I'rOBlrialon I'nusoil by
liquor nr tntmccn. WnKofulncii-t. Mcntnl lleprn
Dion , Sortnt'iK ( it tlio Drain , cnuxlne H nnlty , mln-
t-ry. ilirajdentil. . I'ri-mntnrii dirt ARC , llurrcncsj.
l.usi ot I'owur In cither BI < \ . liuputxiicv. l.iMicnrrliim
nud nil bt'MuloVi > uknl1tiOri , Involuntary Loasca ,
Sponnntorrlietv I'tuutM by o\cr otrrttou of the
liraln. t-olf-atmnt. . over liulnlituiU'O. A uiuuth'H
truatmeut ( I. ( i foi $ . liy umllVu Kimrantoo > lx
tio.xrn lorurc1 Uacli oulpr lor I ! liores with Jl will
nund wrltton Kiiurnnten to rultind It not cured ,
fiiiariinteu U-tioil nnly liy ' 1 heoilure r 1 ewls , druit-
Hltnoli \ < nk'L'iil l OlllhL < l t cuincr ttilti nud Furnnm
Bit * , eii
i&ii.i per uor u loru , BtjaKoy mnii. tvny aunercron
tbliterrlUlo dlsuio wtoi H wrlttjn suanntss ll
uoiltlvelyKlvuii wUUiI ujxai urrafunl ihomonjrlt
curoJ-irjuj st\Jip Tor frj S.implu. eUiir.tntm
eil Uy Kulm , VCu. , l > ni7Elu9 , hole Aion'.icorna
. ami HoiiKlu troa- . U'-ia , Nuti
' im wlslics. Thi-y ViuiM ) tlin ( "noil tnus-
. slinilah-and nourish thn Jimly. Kim.
J uppet II D mill lie * elop Ili-sli. I'rli-e , JJ5 \
- < -nts. r.xai t l/i > hliimu In lionU-r.
Wo Mill ncnil y.MI tlin nmrrtlous t
Fu-nrli Preparation CALTIKIOf
f ivnnd ii Ifgal uu.iraulre tlmtc
l AI/J'HOS Kill ltrrlor < > soiirf
Jloallli , Mrciitlli anil
I 'vf if and fay tfsii/u
Acfdrosn VON MOHU CO. .
fiolr AmtrfeaJi l ; nU , elatlnmtl , Ohio. I
Notlne.
SealoJ proposals will be rceolvod nt any
time nn or before - o'clock p , in. of the ill n
el.iy of December , 1 ! > - ' . for the printing of ull
bills for the li--hliUuni with such mnttiir as
nunbnonlnied bv olthur house thereof. tobe >
printed In "bill form. " uliloh la xhown and
de liiuto.1 ( ascl'issono (1) ( ) under the printing
IIIWH of thn stnto of Ncbrunkn.
I 'or iho prlntlni ; nnd bind Ins in clotli covers
of one thousand (1,000) ( ) cnule.s each of thu bien
nial reports of the auditor of publlu accounts.
troasiuer , societary of state , commissioner of
iiutille lands and buildings , and bureau of
labor and Industrial statistic.mil : five bun * I
died (501) ( ) copies uac-h nf lliu blimnliil reports of
the aitiirnuy uneriil , hiiperlnlendoiil cf | aib-
1kIIIMII m'tion. Mutu llhruilnii and adjulant
gonrial ; e'no thousand (1.000) ( ) copies rupert
htatu biinril jf traiiipnitatlon f < ir It'.lJ and flvo
IhoUMind i.i.U'i' ' ' ) copes report hftitu boirilof
uirlciiluiro for ISr. ' , und all olln'r repents and
eliK'iiinuiils that inny bo ordered jirlntcd by
thn Ic KliilmceoplHuuh us luuy entur lulu
und foi in p.ut of the Journ ilf , which class
of work I'i Iviiuitn and dosUnuied MH claat
ihi eo i.'l ) under the Diluting 1 i s of Nubraska.
Thu hill uui'K. eM'unled under oliist one.
ibiill bo printed In small pie i type , on naper
font teen ill ) inehe.s long by elgln nnd ono-hiilf
is'ti Ineliisvlih > , single page ; paper to liu
tuenty-i'l lit ti. < t pounds doublu cap to the
team , und eneept the tlllu pa e , u.ie'h pugd
uliall cent iln not lu > s th'-Mi I uonly-llvo (2" ( > )
lines of solid niatler of seven ( "i Inches In
length , "ml the lines shall ho suceu-islvoly
numborud , with u blank tm.y In o.ieh ajiaou
iicl ween the ilnus.
Thu title pii.'o of said bills shall contain not
less tlinu iiihteen ( Ih ) I pus IIH ubovu , with
tlneu ( < < ) Inches additional xpacoullowablo for
dlsiility tltlo inuller.
Kuch bid hliitll slutnluil the b'diler ' Is willIng -
Ing to do the woriTcomtiluio for , pur p co , for
the thren InindriiJ ( JWi ) copies naeh bill , also
thn prleo for nddltlonal liiindieds that may bo
ordered ot HID HIIIIKI lilll HI lliuiiniii tune as
thuorlKluul three huiMlicdiOiliiiuiiillii''coiii- (
poaltlon , piper. pioss work , itiiolilni : , toldlus
und till worn of maturliil entering Into the
\toru leijulinil ,
All weirU executed mler ulass onu hhiill bo
ilellvereil in good older hy thi ) con raelor 10
Iho ollli-o of tlioHiierutiiry of sliilo within throei
ilavH nf fur thuiueiilptof I hi ) order by said rim-
tr iL'lor fiiitu thei ehaliinun uf Ihu coinniltluu
on i > ilnllH7 , luoltlii'rbi , inuh of t ! iili' Ulaturi' .
All worl. oxoente'd iiinlor i-l-iss lucoiil ) ohull
liu iiilirud In liinir primer , biuvier nnd noiiii- |
roll type , on pipm lobe nine Inehes lunx by
six Hi' ' Inches wide. hlnln pii e , p.ipurtobu
forty-live ( I'll ponndd to tie ream , of twontv-
fuiir by thirty l.v uhlto book. I' luh bid uu-
dor eUissthiiHiHh.ill Ht.ito what ihn bidder H
willing to do the work eomploiu for , pur pu'-o ,
on piieli roporlorllem In IhHcl.iss , ineludln'4
eoMiinsitlon | , paper , pros ? ' work , mltuhln ' , fold-
l.iK und ull work nr miili'rlal enterlnx' Intotliu
woik ruiiiluid. | O.illny and pugu pioof must
bo fiirnUhod when reii < Irei i bv tlmolllceiH of
tlio u.\ueniiyi ; ( lepurlnieiit or the chiilrmiin ot
theeoinmllteeon jirlnllii , In Dither brnneli
of the legislature. Work whun con.plotoil to
bnilellvuruil free eif oxpuiiM ) alt ho xtnlo house.
I'ropoiitM for vfork In etuch of the ubove
t ; lapses i\li | not be conalduieid MH'.IMH tlio nnu
no neeomiianlfi ! by u bond In thu sum uf live
tlioiifciiiidriUHelollurHwlih ) tno or moro auro-
lles ; ih.il In ciiBU thu parly mupotlnv for such
contract hhull bu awar.lo I tlin KUIIIU iiii'li par
ty will , wiihni llvii ( "ii lUys ufinr thu uuuid lo
linn of niii | I'oniiiivi , entur Into bonds for tlio
riililifnl performance iliiueor , as provided by
law and HID the terms of these proposal * .
1'ropohals hall Ixi m rked " 1'iopoiilH for
publle prliillni" and uddrus-ied to the stain
bo.ird of prlntliiK In caio of the secretary of
Htute , lilnioln , .Nub.
1'outr.ict.H ou uluts one II ) us ubovu bpuelllcd
will bu awarded UK u wholo.
UonliuirtK on eius-illiri'D : ) asaboye npeellled
will hu awar.led In whole or In parturt thu
board may eltot.
Haiiipiu * of the work tei b exeeiilinl under
clubs onu ( I ) und thren CD rimy bu neon at Ihu
olllcu of lliitbBurnliiry of stale.
Uuntr.icts on ub'ivu ulabaes one ( Ii und llire.ii
( il ) to run tuo'Jl yo rs from DL-tuinbor 111 , ! " ' . ! ' .
uxcupt thei repurts of the board of trunBportu >
lion und it ile board o ( uurluiillure , the luttur
to be oomp etud within sixty divyn after thu
uwarJlnv of the e-onUiii't.
'I hu utilu printing board ruiiervus Iho right
torejeetunyorbld ,
< <
rio.-retory of Stall ) .
3. V. II I I.I/ ,
Htitu I'rlnllnz Hoard HtutnTreimnror.
TIIUAII.IIKM'ON.
Auditor I'ubliu Auuiunl *
Lincoln , N U , Nov. II , IS'/- ' . nlTd.wt