Crawfordsville Review, Crawfordsville, Montgomery County, 21 May 1892 — Page 3

It Was Created and Fostered by the Republican Party.

The School Fund Sequestered by the "War Governor."

Large Increase of I lie State Debt Caused

by tile Erection of Public ISiiildiiigs. Tlie Reftinilhi: Act of a Democratic

Legislature Keducos the Interest'Ovor Oae Hundred Thousand Dollars.

The Democratic party did not create ihe state debt.

The official records iu the state house will verify this statement. Take the three per cent, school fund refunding bonds for- example. This debt, amounting to nearly $4,000,000, was created by Governor Morton. Without legislative authority the "war governor" laid liis hand in the school fund to meet, the obligations of a reckless Republican administration.

This school fund, amounting to .$3,JK)4,?S3.22, represented the proceeds of a certain percentage of the earnings of the old state bank, set apart for a permanent school fund. Morton having •'borrowed" this fund, bonds were issued by subsequent legislatures bearing 6 per cent, interest payable semi-annu-ally. These bonds were held in trust by the state treasurer for the school funa. They were known

JUS

For this debt the Republicans cai\ not point to a single public building. When Porter became governor the debt was $4,870,608.45. It was $4,850,850.37, with a deficit of $200,000, when Governor Baker turned over the executive office to Governor Hendricks. When Porter retired the debt was $0,008,5(10.34.

In 1885 an additional burden was pi ace il upon the state without providing means for the raising additional revenues. Three additional hospitals for the insane were authorized. to be erected. Six millions of dollars were appropriated.

Governor Porter appointed a commission, of which he was the head, to construct and equip the new buildings. All the work was planned and contracted under Governor Porter's administration, but it was under Governor Gray's administration that the money had to be paid. The cost of construction and equipment was $1,418,591.39. Since these institutions were opened up to Oct. 30, 1890, the cost of maintenance was $503,729.79,

1

making a total of $1,955,883.18, and which the state had to borrow. Then the legislature of 1887, with a Democratic senate and Republican house, authorized the erection of the Soldiers' monument and the Feeble Minded school at Fort Wayne The monument has already cost $169,219, and ail additional tax of one-half cent on the $100 venation has been 'levied to raise enough money to complete it. The Feeble Milled school has already cost the state over $400,000.

Up to 1S87 a state house tax levy of two cents was levied each year. The failure to renew the tax made it necessary to borrow $700,000 to complete and equip the state house.

1

State Debt.

UNDER GOVERNOR UAICER.

I UKDER GOVEItNOIi HENDRICKS.

18"5

1SS4...

1888

1S8^

1

189°-

1SU1

school fund bonds,

and dated as follows: Nt. 1, Jan. 1, 18ti7 $ 709.024 85 No. 2, Jan. 30, 1SG7 ,2,658.057 30 No. 3, May 1, 18H8 1«,234 00 No. 4, Jan. 20, 1871 174.770 00 No. 5, May 5, 1873 175,7(i7 07

The interest amounted to $234,386.99 annually. The Democratic legislature of 1889 authorized the refunding of this debt at 3 per cent. In the debt statement of the auditor's report for 1888, the bonded debt is placed under the head of domestic debt," and described as "school fund bonds No. 1, No. 2, etc."

With last auditor's report (1891, p. 43,) it will be found under the title of "foreign debt," and classed as three per cent, refunding school fund bonds dated June 18, 1889, and payable at the pleasure of the state June 8, 1889, due June 18, 1909."

The bonds sold at a premium, and with the proceeds the state redeemed live school bonds. The money was then distributed among the counties and loaned out by the county auditors in sums of not exceeding $2,000 at 6 per cent, interest. This Democratic financiering saved the state $117,267.16 annually in interest, and at the same time placed in circulation within the state nearly $4,000,000.

While the Democratic party is entitled to the credit of refunding this debt, the Republican party is responsible for its creation. The total amount of interest actually paid on this Republican debt by the state since its creation until refunded was $4,685,740. Since it was refunded the state has paid in interest $431,801.42, making a total' of $5,117,541.42 which the .state paid iu interest on the Morton debt. In order to meet this interest often temporary loans had to be made. Had it not been for this annual drain of $234,286.99 the state would have managed to pull through without resorting to loans. Adding the money actually paid out on account of this debt to the principal we have $9,022,324.64.

94

3,937,821 00 4,850,830 37

£4,894,881 32 5.077,538 34

5,003,538 at

!876 5,002,538 34 UNDKR GOVKKNOIl WILI.IAMS. $5,002,538 34 4,008,178 34 4,SOS, 178 34 4,998,178 34

U.S'DK: I OVKUNUK POUTER.

1^1

1SS3....

$4,876,008 34 4,870,00S 34 4,87(5,008 34 4,876,008 34

UNDEU GOVKIlNuU GRAY.

1885...

1880...

1S87

.$0,008,600 54 0,000,608 34

0,430,608 34

0,770,008 22

u.\'li:i (JOVKliKoi IIOVKY.

$8,540,615 12

8,540,015 12

8,820,145 13

A Republican Sheet.

The American Farmer is the title of a neatly printed, profusely illustrated periodical published in Washington by Mr. Raum's financial friend, Pension Solicitor Lemon. While published ostensibly for the advancement of agriculture, a glance at the pages will readily convince even a Avayfaring farmer that its object is to influonce and control his political action rather than teach him what Pension Solicitor Lemou "knows about farming." The trick would be shrewd if not so transparent, and Mr. Lemon and his party will find that but few of the honest, unsuspecting farmers will be enticed through its deception into Little Ben's parlor.—National Democrat.

John Sherinun Not Wanted.

The suggestion that John Sherman has been chosen as the candidate of the silver men to defeat' Harrison is almost too absurd to merit denial, savs the Colorado Sun, a Republican organ of Denver. John Sherman is the worst enemy that silver ever had in the United States senate. As secretary of the treasury he was under the absolute control of Wall street, and since that time has never lost an opportunity to gj.ve the cause of silver a black eye.

Several times, on a fair and tmtrammeled expression of sentiment, the silver men have hnd an opportunity of so far convincing their opponents of the force of the argument for Bilver that they would have secured free coinage, at least to a limited extent, had it not been for John Sherman, who, by parliamentary delays and other obstacles, has forced a compromise, giving up a little in order to prevent the adoption of measures favorable to the silver interests.

This was notably the case at the time of the passage of the Jones-Sherman bill. This was not what Mr. Sherman wanted, but he was forced to accept it or submit to defeat. This, like all other half-way measures, has been a delusion to the silver men, and, of all men in the world, John Sherman is the last that should be chosen to represent the opposition of the silver men to Mr. Harrison. President Harrison himself is not a worse enemy to silver, and The Sun does not believe it possible that the friends of silver will commit the imprudence of choosing Sherman for a standard-bearer.

Privileged Classes Opposed to Free .Wool

The National Association of Woolen Manufacturers, which only includes a portion of the woolen producers of the country, has issued a protest against the enactment of the house free wool bill. "Wliat the woolen manufacturer of the United States now needs, before all else," says the protest, "is a period of entire rest from tariff agitation aiming at radical departure from the conditions upon which the industry is now organized, and to which it has been fully adjusted."

The privileged classes, of course, ask nothing better than to be let alone, but it is not the purpose of the Democratic party to grant their request. What we desire to emphasize in the above, however, is the use of the word "adjusted" —a word that is playing a great part in the new vocabulary of Republican politics. When prices are what the common people call advanced, in Republican vernacular they are "adjusted." When wages are decreased, the Republican press gibly informs ua that they have been "readjusted." And so on. What the Republican party sadly needs is to be readjusted by a spanking good defeat.—Rochester (N. Y.) Herald.

Mixed on Silver Issue.

An object lesson on the division in the two great parties on the question of free silver, was furnished in the convention of three states on Wednesday. The Republicans claim that their party is opposed to free silver coinage, yet the Republican convention in California indorsed it. The Democrats are charged with being in favor of the free silver heresy, yet the conventions of the party in the states of Michigan and Wisconsin repudiated the doctrine. It seems that parties are somewhat mixed on the silver issue.—New Albany Ledger. 1

The Kond Question. v.

Roads are now being worked. It is the duty of the people to insist that the time and money thus employed be expended to the best possible advantage. No subject is of more vital importance to our people. Roads that are properly graded at this season, will be good the entire year. Every citizen of Indiana would be greatly benefitted by good roads, hence he should be aroused to the importance of using his influence to secure thi^esirable object.—Coltsbuigh Journal.

Tliroe Rood Lam

Every test demonstrates the value of the new election law and its superiority over the old arrangement. The same universal popularity follows the new school book law and not even a hired agent of the school book trust offers to kick. A fair enforcement of the tax law will bring about the same happy reBults, and only those will find fault who prefer the salvation of the Republican party to the good of the people.—La Grange Democrat.

Not Essential to the Prosperity of Our Farmers.

Farms Unfilled Where Factories Exist in Profusion.

Congressman Warner Tells Why Farming

Docs Not Pay—Protection Has Depopulated the Country in the Manufactur­

ing States of New York, Connecticut and Massachusetts.

Here, let us say, as a farmer, located on a bit of laud one hundred miles away from the nearest city. That city is his nlarket. There are fanners all about him he cannot sell to them either his staple products or the occasional surplus or fruit or garden stuff which unusually good seasons may bring upon his hands. The cost of transportation is so much taken from his profits.

Here steps in the protectionist. There is in this region, say, a stream capable of abundant water power. "Let us put a woolen mill here," the protectionist urges "let us agree to pay something more than we pay now for woolen Btuffs, and so make it an object for some one to come here and start a manufactory. Hundreds of hands will be employed the railway will be put through 1 We will build up a town right in the midst of our farms and have a market at our very doors. Good prices then for everything." It is done the mill is built, the railway is laid, the town grows up. And the farmer—what of him? Strange to say, we presently find him getting poorer.

Where is the mistake? It is just here—in the agreement to "pay something more than we pay now" for manufactured goods. In the protectionist's theory that "something more" is put away in a quiet corner in the actual practice it comes out and plays the mischief. If the farmers in this locality want a woolen mill, those in that locality want a cotton mill, and those in the next county an iron furnace, and so on. The result- is that the farmers pay everywhere "something more" for.everything they buy'.

But this is not all. The promise of higher prices for wheat in the "home market" calls for scrutiny. The appeal, sifted down, comes to this "Pension a number of corn consumers to come and buy of you. Subsidize an army of artisans to settle at the farm gate. Pay them for making goods at a loss, and out of their profits they will purchase your abundance."

Where Has the Ilome Market Gone?

This, however, is not the worst. It is but fair to admit that though the protectionist was always at fault and the farmer never helped by "protection," yet that, in fact, the farmer did once have the "home market" for which he bargained—paltry as might be the whistle for which he had paid so dear But nowadays there is no such thing as a "home market" for any considerable portion of his produce. The farmer in the Genesee valley not merely sees the trains run past him to Rochester, laden with flour rolled in Minneapolis from Dakota wheat, but uses the same flour in his own household, and his village butcher sells fresh meat from beeves killed at Kansas City. No manufactur ing town dreams nowadays of looking to the locality about it for any supplies except only the cheapest part of its "garden truck." The labor markets of the world are open to the American manu facturer, who thus has free trade in the one thing he buys most of—labor. He lives in a land where transport facilities are so developed that he need not depend upon the locality about him—and he does not in a locality whose surplus of food products is so great that their first price-fixing markets are found at Liverpool, a free trade city, and so lie gets them, too, at free trade rates. The American farmer has sold his birthright and has lost his pottage to boot.

What the American farmer most needs is a home market in which he can purchase his supplies as cheaply as his competitors purchase theirs, and if he ca$ not secure this, then he should have the poor privilege of making his purchase where he is. compelled to make his sales, and be permitted to bring his goods home without being compelled to pay unreasonable taxes and fines for carrying on legitimate business.

But as to the "home market" fallacy, no logic is half so remorseless and resistless as that of experience. It has been worked out thoroughly under ideal circumstances, the characteristic nature Df which no one can question. Before the war no states were more thriving in agriculture than New York, Connecticut and Massachusetts. And they earliest of all developed their manufactures, and throughout their length and breadth built factories of "protected" industries on every hand. There never was a farming population more alert to exploit a home market there never were manufacturers better pleased to create such a market if it could bo so created. What is the result

New Vorlc Worst of All.

Worst of all, however, and most characteristic, is the situation in New York etate. The most populous of any in-the Union and once the first in agriculture, surpassed by no other in fertility, her Genesee valley was the granary of the country, and supplied our expert trade long before Minnesota was a state, or Dakota had a name. Her Orange county

gave the name to the first standard brands of butter, and her Herkimer county did the same for cheese—all this long before the war. Of late, her old great city has become greater till in population it now approaches 2,000.000. Brooklyn, her second ".ity, has grown to 1,000,000 from a quarter of that number. Buffalo, at the western end. numbers 200,000 Rochester. 150,000 Albany. 100,000, and Syracuse and Troy, 75.00C each, while there are numerous other* from 20,000 to 50,000. She has meanwhile become by far the greatest manufacturing state in the Union. Every one of her large towns is a manufacturing center, and throughout the state, dose to every one of the old farming centers, extensive factories, mills and workshops have assured to the farmer whatever advantages the best possible "home market" can give. Not merely this, but the state as a whole has increased in wealth with unexampled steadiness and rapidity. Since the war the vineyard interest has become an enormous one in her lake region: she has become the first of the northern states in fruit culture her old rich farming localities are today better worked and more fruitful than ever, and her farming population not decreasing as a whole.

There can be no question as to the prosperity of the state of New York there can be equally little that a great share of that prosperity is due to her farmers. Do they share it?

The Tribuue's Testimony.

The following is published in the New York Tribune, the great home market organ: "State Assessors Ellis, Wood and Williams are making their annual visitation to the several counties selected for this year's inspection. Each year they look into the condition of affairs in half the counties, so' that it makes their visits to each county once every two years. Saturday they looked into Albany county, tomorrow they will visit Schenectady. 'We find a general depreciation in the value of farm lands," said Assessor Wood. 'We have visited fourteen counties—Monroe, Erie, Chautauqua, Cattaraugus, Chenango, Broome, Delaware, Sullivan, Franklin, Clinton, Es°ex,Washington, Warren and Albany counties. In all we find the same condition of afEairs. City property is increasing in value, while farming property is growing less and less valuable. I can not see any way for it to improve, and in a few years you will see more tenant farmers than anything else. I don't see how these insurance companies that have advanced money will get out whole. No one wants to buy farm lands here. They can't get their money out of them. Most of the farms were bought about war times, when big prices were paid. In Washington county I had an illustration of the receding value of farming land. A man took a mortgage for $10,000 on a farm just after the war. He has held it ever since, and today will take $8,000 for the entire farm, after foreclosing the mortgage. 'The reasons for this state of affairs are many. In the first place, the farmer here can't compete with the farmer in the west. There is very little grain raised within our borders now potatoes don't bring any price butter is selling in the dairy district for fourteen cents a pound, and other products are equally low. This is good for the consumer, but bad for the producer. A few years ago western butter was not wanted today it gets the cream of the trade in New York city. In a few years you will see the present owners of farms in many instances tenants on them. 'The cities are prospering though. New York city has added about $50,000,000 property to its real value the past year Brooklyn has added between $20,000,000 and $30,000,000 to its real-prop-erty Buffalo has increased $5,000,000

Rochester between $2,000,000 and $3,000,000, and Albany and Syracuse $1,000,000 each.'"

The Home Market Club.

But there is one point further. As the home market is to be a benefit to the fanners, of course it is the farmers who have organized the Home Market club, of Boston, which is doing so much just now to uphold this beneficent system of protection. But the fact is that it is the manufacturers who are doing it, not the farmers at all. It is as if the people of the Cannibal islands should organize a missionary immigration society as a sure and easy way of getting a meat •supply.

The home market theoiy may be briefly stated as follows: If you farmers will only give us manufacturers enough money to enable us to go into business, and will consent to pay prices high enough to make it possible for ua to continue our business at extraordinary profits, we will agree to buy what we need— what we must have from some source— from you at low and steadily diminishing prices—if we can't get them cheaper elsewhere.

That is all there is to it. JOHN DKWITT WARNER.

Railroads and corporations all over the state arc evading the new tax law, and are testing the constitutionality of the increased rate. This is the same law that the Republican press over tho state have been howling themselves hoarse, in trying to mako the masses of the people believe that the farmer was the one who suffered the increase. We don't know of any railroad company that is fighting a law that injures the farmer.—Winchester Democrat.

What is

Castoria is Dr. Samuel Pitcher's prescription l'or Infants and Children. It contains neither Opium, Morphine nor other Narcotic substance. It is a harmless substitute for Paregoric, Drops, Soothing'Syrups, and Castor Oil.

It is Pleasant. Its guarantee is thirty years' use by Millions of Mothers. Castoria destroys "Worms and allays feverishness. Castoria prevents vomiting Sour Curd, cures Diarrhoea and "Wind Colic. Castoria relieves teething troubles, cures constipation and flatulency. Castoria assimilates the food, regulates the stomach and bowels, giving healthy and natural sleep. Castoria is the Children's Panacea—the Mother's Friend*

Castoria.

Castoria Is an excellent medicine for children. Mothers have repeatedly told me of its good effect upon their children."

Da. G. C. OSGOOD, Lowell, Mass.

Castoria Is the best remedy for children of which I am acquainted. I hope the day is not for distant when mothers will consider the real interest of their children, and use Castoria instead of the various quack nostrums which are destroying their loved ones, by forcing opium, morphine, soothing syrup and other hurtful agents down their throats, thereby sending them to premature graves."

DB. J. P. KINCMLOB, Conway, Ark.

-THE-

Yandalia

LINE:

NORTH BOUND.

No. 52 Mail 8:16 a.™ No. W Express p.m SOUTH HOUND No. 51 Express .9:44 a. No. 53 Ma}l 5:30 p.

Good conuectior made at.Terro^Haute'for the Soutli and SoutU-weBt.Trains |run through to St. Joseph, Mich., making good .connection with C. fe W. M. for Michigan points.

J. C. HUTCHINSON, Agent.

JBig

CMiiM, Cincinnati, liicap a & Sf, Louis R'y.

4i

Route

Short Line. East ami West

WAGNER SLEEPING CARS

On night trains connecting with Vestibule TroJn6 at Bloomingtou and Peoria to and from*Missouri Kiver, Denver anl Pacific Coast

-AT-

Indianapolis, Cincinnati, Springfield and Colnta bus to and from Eastern and Soaboard Cities.

AddrcsB W. Mlchle, agent for further particulars. JOHN B. CARSON, JAMES BARKBR Gen. Manager,

G. P. A., Chicago Chicago. TRAINS AT CRAWFOKDSVILLE.

GOING WEST. GOING EAST

No !i—Mail, 9:l5nm I No 8—Mali, ft:12pm No7—Mail (d).12:39am mo 13—Mail(d)...l:5riflni No 17—Mail 1:38pm No 18—Mail ....l:(»pH No 3—Express...0:-)5pm No 2—Express...9:15 ft#

G. E.HOBINSON, Agent.

IK1II

NEWAIBAHY& CHICAGO

Rrita-

jl*. N. A.

& C.

MOSOS.

NORTH BOUND.

No. 4—Niglit express 1:55 a. in' No. 0—Fast mail 1:80 p. in. No. 44, Local Accommodation 2:40 p. in.

SOUTU BOUND.

No. 8—Night oxpross 1:85 a. m. No. 5—Fast mail 1:10 p. m. No. 43 Local Accommodation 9:15 a. m.

All trains stop at Linden, Ladoga and lioaehdalo. Local freight carry passengers.

Indianapolis Wire Works

Wire Cemetery Goods, Wire Settees, Chairs. Arches and Grave Guards

BasKsts Keptin Stock.

WM. SWISHER, PROP.,

87 Circle Stroet Iudianapoljs, Ind.

ACTIVE, RELIABLE MEN WANTED.

Tho year round to represent ns la tho sale of Nureoy stock, Local or traveling. Good wages and expenses, or commission. O. D. GREENE, Syratruae, N. T.

Castoria.

Castoria is BO well adapted to children thatf I recommend it as superior to any prescription known to me."

H. A. ARCHER, M. D.,

:i 111 So. Oxford St., Brooklyn, N.T.

Our physicians tho children's department have spol# Sfchly of their experience in their outsita, practice with Castoria, and although we only have among our medical supplies what is known as regular products, yet we ore free to confess that the merits of Castoria has won us to look with, favor upon it."

UNITED HOSPITAL AND DISPENSARY, Boston, Mass. ALLEN C. SMITH, Pres.,

The Oentaor Company, T7 Hurray Street, New York City.

EAST WEST 4^kToLE.^°cV|.0'u's iy^KANSASfiTY R.R.

"CLOVERLEAF ROUTE*'

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O N N I A I N S

DAV

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CLOVER LEAF ROUTE.

For fnrthor partirnlnrs, call on nearest Agent of the Company, or address

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