Crawfordsville Weekly Journal, Crawfordsville, Montgomery County, 1 April 1893 — Page 7

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Two Lives.

Two sons from "ut two distant homos one day Went bravely rorth in life to win a way.

And one liad wealth to shield him from rough cares: The other, poorer, took his mother's prayers.

OnesotiKht ami found hitch honors at hi.* hand Ono fought to u'uin a plan wlici-eon to stand.

One found his path thick strewn with roses sweet One struggled lnnn t'lroujjh thorns, with bleeding feet.

One came at dead Ono stood in head.

f!t

noon, wealth «one and (lowers

calm, with sun.shino round his

One fell benoai'i temota!ion's wile-., unarmed The other stood amid all dangers still unharmed. 1- UKenia Pin-ham.

AOOUMULATlUiN OF INTEREST.

(Copy riirlit Reserve-.!.)

But the current history of 25 yours refutes it ae a fuilaev.

the past That in

terest is neet!6Gary to give circulation to money. Sometime during tlw (jO's aD article

WUB

published in the New York

Herald to prove that it was necessary that the reser/es of the banks must draw a large interest to enable them to oontinue. The six per cent, compound notes and the 7:20's were largely used, and as they were gradually redeemed the bank reserves that were profitable were lessened, but the bunks were con tinued nevertheless. After they had no interest bearing reserves. Later on tin bonds deposited with the governmeni bearing a six per cent, rate of interes' to secure their currency were retired, and they were compelled to b'tnk on bonds bearing a lower rate of interest,, and finally insisted that their circula tion should be continued them on bondsbearing no interest. This the attorney general held wa3 not lawful becuusttheir circulation must be secured by tht deposit of interest bearing bonds.

Here we see that at one time thej could no no business,., or rather would be forced to go out of business, unlessthr reserves they were required by law to hold were interest bearing. But a* th« interest bearing reserves were paid off ihey could still continue busiaestaud in the end insisted that they be allowed to continue when neither reserves nor the boq,ds securing their circulation bore interest. In the case of the banks? we see that they were entirely deprived of an interest income, without which it was claimed they would have to go out of business. But instead of going out of business, they increased in numbers and capital with only the ordinary busi ness that is done by banks of discount and deposit. It would be just as reasonable to say "Lower the rate of postage and the motive for correspondence is largely withdrawn and the world re trograded or lower the rate of railroad fars and the motive for railroad travel is largely withdrawn and the world ietro graded."

To eay this of a lower rate of postage, or a lower rate of railroad fares, is to state an absurdity, sad it is no less so to say that if a farmer could get a loan of money without interest that his motive to improve his farm was largely withdrawn. But on the contrary if one or two thousand millions of dollars Gould be loaned to the people at a low rate of interest or no interest, it would give a marvelous impulse to circulation. How often wo see business enterprises erippled or ptopped because the use of capital costB too much, that would be to their utmost capacity with a much lower rate of interest than the present.

is not interest that keeps money in circulation, but the use of it in productive enterprises.

But the main argument of the article quoted from is the following quotation: "Will logic, will common sense affirm that money rental is not as legitimate as bond rental, it is practically the Bitme in effect. A owns a farm for which he receives a rental of S300, and none deny its propriety, for not even Henry George denies the right of bond rental or house rental. But A sells the place to for $5,000 and takes B's note. denies the propriety of interest and so refuses to pay. Should he accomplish such an end he would simply rob A of the rent value of his bond. Now what matters it to whether he pays rent on the bond to A or interest on his note for it? Moses affirms that they are not the •ame.

It has been in the case of interest and etill is as in the case of slavery, it is profitable and a great many reasons are given in defense of it, as already observed by calling it money rental.

The commentators since King James' time modify the meaning of the law as meaning only a law rate or the legal rate, and simple interest only, that simple interest only is allowable, that the law only condemns compound interest. But as the law was given that the peopie might enjoy the fruit of their own labor, no other construction will do that does not forbid any rate. Not only does Moses forbid usury and increase but all the prophets for a thousand years after him forbid both increase and usury. It does not matter how low the rate may be, it will in the end eat out another's substance. Soon after the wars of Napoleon and when England resumed spe oie payment the effect of the law leaving to the borrower and lender the rate of interest to be paid on money loaned, or on the forbearance of contract showed ite effect on the nation. The tubstance of the people Ho wed into the coffers of the rich, in one vast stream.

Dr. Clarke was writing his comments at this time and in commenting on the 8th verse of the 18th chapter of Proverbs, "He that by usury and unjust gain inoreaseth his substance, he shall gather it for him that will pity the poor," says "O that the names of all those unfeeling, hard hearted consummate villains in the nation who thus take advantage of their neighbor's necessities, to enrich themselves, were published at every market cross, and then the delinquents all sent to their brother savages in New Zea land. It would be a happy riddance to the country."

Dr. Clarke was more conservative at the earlier period when ho wrote his comments on Exodus. After quoting

Leigh he says: "It is evident what is here said must be understood of acoumu lated usury or what we call compound interest. Perhaps usury may be de fined unlawful interest, receiving more for thn loan of money thau it is really worth."

But when we lenve the sale construc tion of no interest,tis the meaning of the Mosaic law and as understood until within the last three hundred years, no tuan can tell what money is worth, when you attempt to measure lis worth bv the rate of interest that is to be paid for it. For the purpose of a particular transaction it may be worth 50 per cent, and for another it may prove not to be worth 2 per cent.

If the Sheriff should sell cattle on execution for §5, worth 820, the speculator might pay 50 pe- cent, for the use of the motiey that would enable him to buy them, but in that case he would only be the agent through whom the farmer's loss would be transferred to the pocket of the lender.

To see how wide the difference be tween the rent for land and interest for the use of money and forbearance on contract is, let us take a farm as an illustration. At the giving of the land by Moses that yielded products that sold for $1,000 annually. The products were consumed from year to year as produced, for the comfort of man and beast, and the land produced a crop of that value every year since. The total value of produc! for 3,400 years would be $3,400,000. Now :et us suppose that 'he first crop of the laud had been sold for $1,000 and the money loaned at 2 per cent, the note due, principal rind interest 100 years sifter date would amount to $3,000. This tutu again loaned for 100 years when it would amount to $9,000. Loaned again on the same terms it would amount to $27,000 at the end of the third 100 years. Loaned agHin on the same terms at the end of the 4ih 100 years it would tmount to $81,000. On the same term? it would amount to $243,000 at the end of 500 years: not more than the ordi nary annual revenue of a moderately wealthy country, but continued in the same way to the end of 2.400 years il would amount to over $190,000,000,000, more than three times the present wealth of the United States.

But if we compute it at 6 per cent the one thousand would itself thirty limes in five hundred years, and would increase to the sum of three hundred billions or five times the wealth of the United States. When we see the effect of rent and interest on human affairs the wisdom of the law of Moses becomes apparent, and we see why usury was like the bite of an adder: eo small at first as hardly to be seen but in the end consuming anothei's property. It is true that it would be impossible to make such an accumulation, for the wealth of the world that is the annual productions would not be sufficent after a given time to pay the interest. But we are permitting the classes to work that method of accumulation, eo that from a small beginning. Life insurance has in the course of 50 years carried a sum of less than twenty millions to more than $3,000,000,000 and can in the course of 50 years more carry it up to the sum of $20,000,000,000 and we are already arrived at the point that no matter, how large the farmers crops may be, they do not help Lim out of the mire of debt, in which a high rate of interest is holding him, as well as all other classes. The same agricultural paper gives the figure of a woe-be-gone looking farmer over the outcome of his work. His products sold for $120, this covered the expense of labor, feid bill, wear and tear and $40 over but aB $50 was reactional as due him on his investment the statement makes his operation a losiDg one, apart from the interest it is a very successful one. The agricul tural papers often times uubliab accounts of particular litlds, de.bebting them with the cost of labor, seed, etc., and always add to the debt side a certain amount as interest on the value of the field. The credit side may foot up enough to cover all the items of expense and part of the interest item, but because it does not amount to enough to cover the interest also it is considered a losing investment, while in fact it was a successful venture without paying a dollar of interest.

So we see statements of manufacturing establishments paying for labor, materials, taxes, repairs, wear and tear, insurance, etc., but because they pay no dividends on the stock, they area losing investment. Now there can be no question but that thev promote the public welfare when they all that, turning out products for the comfort of man and paying for the material used, labor and till other expenses. This is not written to say that there shall be no gain on the investment itself but that there will be no general distress if theie is not, and eo with the farmer when he gets pay for his labor and all other necessary expenses from the sale of his products he is prosperous What he must concern himself about is that his products shall not be consumed by the ever increasing snow ball of interest rollirg through the land. If man could by legal enactment make laud increase or grain in the crib or bin at p. given rate per cent then no harm would come from usury on money. The earth would expand from jear to year, so that now our planet would be the largest in the universe. If Moses, instead of legislating Bgainst interest for money had allowed it and God had respected his decree, that land and grain and all human production should increase at the same rate of increase allowed for the use of money. But that is impossible, and hence the wisdom of the law against interest. This law is one of the wisest and moat far reaching in ite effects on human affairs of anything in the Mosaic code, and it is Btrange that the people by whom this law is more reverenced than by any other, should hold the law against usury in less respect than any other people. So far is this carried by them that the words Jew, and extortion, are to a considerable extent

onomous terms.

held as syn-

It is not only the interest on loans of money, and forbenrance on contracts for the payment of money that is eating up the substance of the people, but the crent on of false, or watered stock and bonds, on which the people are made to pay dividends and interest for which no value is returned to them.

This evil is carried further by the railroads than any other, not that it is ire vicious as practiced by them, but because it is practiced by them to a greater extent thau by any other interest. But the burdens oft lie people are also incieased by an attempt to demonetize silver, which bus been one of the two precious metals used as money by man since the earliest dawn of civilization until within less than fifty years, becmse th» money transactions of comparatively few people are on such a vast scale, that is is to their interest that silver shall be used its a token, as copper is now, so that what is most desirable to less than one million of people of people in Europe and America shall be submitted to by four hundred millions to their own injurv.

S. B. HOEFGEN.

]tussi:r.L sAor

The well-known financier, writes: "."00 Kt FT It AVKNUK, I

NKW YOIIK CITY, December','0, 1800. l" "For the last twenty .years I have bepn using Allcock's Porous Plasters. They have repeatedly enred mo of rheumatic pains and pains in my side and back Whenever I have a cold, ouc on my chest and one on my back speedily relieve me. ••Aly family arc never without them."

RUSSKI.L SAOI:,

I OUTHI a Verdict for JJcfenclnntft. MITCHKI.I,, I ml., March 27.—In the case of J. J. Fields, ex-treasurer of Orange county, against the Orange county bank, which has been attracting much attention for two weeks in the circuit court at Salem, the jury returned a verdict for the defense. Mr. Fields was a well-to-do farmer when he became treasurer of the county, and at the close of his term, when the hooks showed him to he. behind $12,000, he borrowed money to make it good. Mr. Fields claims he did not get the money, but was the victim of a plot. The Orange county bank and the Quaker preacher who acted its Mr. Fields' deputy were charged with conspiring to defraud Fields.

Settled DilVerenees in the King:. Four WAYNE, Ind., March 27.—For some time. Fred Bolman and Fred liusse, 20 and 21 years old respectively, have not been on speaking terms. Both young men are highly connected and decided to settle thr difficulty in the prize ring. A ring was accordingly pitched in a barn on Webster street, and at

7:30

Sunday morning the

youngsters met and proceeded to fight it out. They went at it in a professional style and in the seventh round Bolman landed a left bander under Husse's jaw and knocked him out The tight was witnessed by seventy-five friends of the principals and the winner received a purse of

§300.

Suit Against KisJey.

INDIANAPOLIS. Ind., March

27.—John

M. Butler, partner of the late Senator J. E. McDonald, Sunday received a copy of a bill of complaint for him to sign in a suit against John Ewing Risley, nominee for confirmation as minister to Denmark. The claim is for an accounting of fees received by Risley in prosecuting cases before the court of commissioners of Alabama, cases in which he was associated with Senator McDonald as attorney of record. It is alleged that no proper settlement of fees was ever made by Ilisley, and that he still owes a large sum on this account.

Held for ?.Iuider.

TKBUK HAUTE, Ind., March 2~.—The coroner Sunday evening caused the arrest of Joseph l'igg on the charge of murder. Last Tuesday the 4-months-okl child of his stepmother was found dead in bed. The night before the death of the child, it was stated to the coroner's jury, the son prepared a dose of some mixture and gave it to the child, threatening other children who saw him do so to keep them from telling what they had seen. The body of the child will be exhumed to-day and an autopsy held.

AVill the Largest I'uiley. COLI'MHUS, Ind., March 27. —The largest wood split pulley in the world was shipped from this city to Chicago Saturday night. It is part of the exhibit which the Reeves Pulley company of this city will make at the world's fair. It is 18 feet in diameter, litis a face surface of 4 feet, and will be fastened to a shaft 0 inches in diameter. It required two and one-half kegs of nails, 100 pounds of glue and 2,800 pieces of wood to construct the pulley.

Driven from South Carolina.

MADISON, Ind., March* !J7»—15. \Y. Crow and family, recently driven from the town of Isebo, S. by anonymous threats of the destruction of their property, went south from Ilanover, tiiis county, where they have several relatives, including Prof. Garrett, of llanover college. Mr. Crow is a white man, a Presbyterian, and his daughter taught a school for negroes.

Kxtending: the OU Vlclcl.

POUTT.AND, Ind., March 27.—Tl.^ Lewis Grisell well, drilled in Saturday, is llowing over '2,000 barrels of oil a day. The Indiana oil field is rapidly increasing in production, this county furnishing over threefourths of the entire amout produced in the state. With oil at cents an increased amount of drilling will be done this spring.

Submit a Mew Schedule.

TEKRK HAUTE, Ind., March

^7.—Sat

urday a committee of employes representing the freight trainmen called upon General Manager .John G. Williams, of the Vandalia, presenting a new schedule. It is understood that the schedule does not call for any material advance in wages, but rather rearranges the plan of working hours. The company asked for time to consider.

New Way of Getting: ltld of Tramp*.

NOBLESVIU'E.'

Ind., March 27.—-The

city council has passed an ordinance making it the duty of the city marshal and secretary of the city hoard of health to vaccinate ail tramps that come within the city limits, not because there is any fear of smallpox, but as a moans of getting rid of trumps.

Stake* I,is! Inrrcasc

TMKKK HAITI-.. I ml., March 27.—1The directors of ihe Terro 11 ante Trottmg association, determined to maintain Terre Haute as one of the greatest, racing renters in the country, have decided to offer §:J0,000 more in stakes. This, in addition to the regular purse races, guarantees a great race inectni"-.

Dry Suiulaj' in Miim'ir,

MUNCH:, Ind.. March 27. As a'result of the order of the police commissioners every saloon in town was closed Sunday, the first time in many veais.

]rlvitoi .-it to Marry Atfain. MVNCIK, Ind., March 27.—Judge Koons on Saturday granted decrees of divorce to Cora Snodgrass, Annie lvichey and Henrv Hubbard.

Wedded at Muncie.

Ml'NCiK, Ind., March K. 11 el vie and 10 Hie li. West and Jacob 15. Richmond and Mary Hupp were married Sunday.

low's This!

We offer One Hundred Dollars reward for any case of Catarrh that cannot be cured by Hall's Catarrh Cure.

F. J. CHENEY & CO., Toledo, O. We, the undersigned, have known F. .1. Cheney for the last 15 years, and believe hun perfectly honorable in all business transactions and financially able to carry out any obligations nif.de bv their lirtn. WestiScTruux, Whc les vie Druggist. Toledo,

O.Walding, Iviniuui it Marvin. Wholesale Drupgist, Toledo O. Hall's Catarrh Cure is taken internally, acting directly upon the blood and nucous suriaces of the system. Testimonials se free. Price 75c. per bottle. Sold by all druggist.

Sewing Machine at a Bargain. A Household sewing muchine, perfectly new, with all the latest attachments, will be sold at a bargain for cash. Apply at THE JOUUNATJ office.

Al'ree Trial for Yon.

Wo will send any reader of this notic( who will write and ask for it NOW. a trial package of our Heart Cure Tabules. which have cured thousands of the various forms of heart trouble, dyspepsia, with palpitatmc and constriction, rheumatism, stiffness of joints, Fluttering pulse, dropsy, biliousness, etc. Write, for trial package, or if suffering from any disease send symptoms. Address, TAHULHS MEDICINE CO., South Bend, Ind. Our remedies for nervousness and consumption are becoming very popu lar.

"Olve lis a Lift."

"Do send down something to help us "Those little Pleasant Pellets you sent before were just what we wanted." "They helped right where we were weakest. "Don't send anything else

Nature, abused and neglected, does her best to overcome exhaustion and ward off threatening disease, but sometimes calls for help and knows just what she's about The system takes kindly to the mild, wholesome iullucnce of Pierce's Pleasant Pellets, and often their timely assistance corrects e-.vils which would soon lead to serious results. With the first signal of distress natur.3 will thank you for remembering her retimst. Therefore if languid, easily tired, bad taste in mouth, bowels irregular or constipated, give nature a lift, bj taking Dr. Pierce's Pellets, Best Liver Pill made.

Children Cry for

Pitcher's Castoria.

I'It won

PLEASANT

ThE NEXT MORNING

FEEL

BRIGHT

AND NEW AND MY COMPLEXION IS UETTEH. My rtoutnr wiyn it acts gently cn the stomach, liver .fVH, am) it* pleasant laxative. This dilnk iiiTliH, and j.h prepared lor ubo us easily :aucd

and kidiH! is nuulc tu? tea. It

LAKE'S E I IN E

Alt drnpgi -tfl

sell

it at

flftr. an*\

H?iy

one

ii»o»iy.

31.0« jcr pack-air*.

-Peoria Division,

BIG 4-

!J :00K.in BxprcHh—Mall..: 2:00it.tn Mail (dully).... .":1 Kp.in(dal)y) M-ill—Kx r«ns... irr.rn Mall—KxprnoH.

OCTIt 5 :20prr .. -4 4n.ni.. t'} :4(ip.rn

0:00ii.m .44it.in 1 f:4Ki.!!'

VANDALIA.

F.XIW9S .Mall

XOI.'TIi

Send for Alabastine Rock for Souvenir, Free also Tint Card.

pi r,

H: I Hn. 12 :40 pn

Pump Repairing.

We have hired a* man especially to repair pumps. He is an expert and wiii do the work in good style.

^Remember, also, wc sell all kinds of pumps. Do you need a wood pump*

WILLIAMS BROTHERS

112 South Green Street.

i!MEREDITH'SMALTunORIGINALjL?ONARECOMMENDPHYSICIANSSCIENTISTSp PURE MALT I

FOB, ALL

Pulmonary and Bronchial Complaints.

A ntiiiuitant and tonic wlthoot equal. Warranted

Chemically J*iirc.

Mention tliis paper.

IS!

IsSWl!

P.-w

Family MciiirUio

rnMN?!-ynry

TOON ROUTE.

1 :0'2a.m Niwht Mall (flatly) .1 :2rp.ra Day Mailidai'y) :00m.m Way Freight

KOKTII

:i:14tt.TP 1 II 2:40p.ir

Sold by oitiDni^ribU.

G. W. MEREDITH & CO., Sole Props. CAST LIVERPOOL. OHIO.

Ladies, attend the Grand "Millinery Opening on Saturday of this msrs also.

Thursday week.

ANew Grocery Store.

We have opened up a stock of GKOCKRIHS on Washington street, second door south of the First National Bank, and invite the public to give us a call and get prices.

The services of Mr. Sam Scott, who for the past twenty }?ears has been clerk and proprietor of the Old Reliable Opera House Grocery, has been secured by us, and he will be glad to meet his old friends and former^customers. Everything new, clean and fresh. Give us a call.

ALABASTINE CO., GRAND RAPJDS, MICH.

'A HAND SAW IS A GOOD THING, SHAVE WITH."

SAPOLIO

IS THE PROPER THING FOR HOUSE-CLEANING.

Fr day Open

Tin: DOCTOR.

and

cven-

ANIC LEYLVSON.

McM IJI^IJiN Sr SON.

EltYHODT Jtnons that will pupcr, with Il.s TOgptlllllu piiHto 7 iiml Its colorings In

nnlmnl pluc, is tinsuiiitary, and tliut to apply rcpcatod layers of Ktirli Is a very "nasty prustice," us woll an dangerous. Kalsomlno 1m temporary, rots, rubs off and scales paint slops "wail respiration" needed to purify walls. Send to us for a paper from Michigan State Hoard of Health ro-

Oiit'lnynr port, on this subjcct, roo -"""endi,,* Church's Ala-

may recover but cannot. Imstiim and pinstioo Only for wiills of dwellings. Alalmsllno forms pure, permanent and porous coatings, and does not reqnlro to hn taken off to renew from time to time is a dry powder, ready for uso by adding water (the latest malio Is used in COLD water and is never void in bnlk) can bo easily brushed on by any one inurin in wliito and twelve fasiiioiiablo tints, and In flireo nliades, from whlclt decorators innfce the bulum-e of forty shades shown ou their card.

N. !'•—It is not claimed that all who llvo withIn papered walls !So much Kiofore their time, but 'hey will enjoy better health with wall coatings (I'l'l'F) l'ure, 1'ormanent, I'crons and l'retty.

For Sale by Paint dealers everywhere.

BUT NOT TO