Rensselaer Semi-Weekly Republican, Volume 35, Number 121, Rensselaer, Jasper County, 2 October 1903 — Page 3

MODERATION URGED

Senator Beveridge Gives Timely Counsel to Indiana State Bankers’ Association. FOR OUR COMMON PROSPERITY Conservatism the Keystone a? Business Stability—Steady Legislation. No Sweeping Changes—Bankers Noi the People’s Enemies; People's Prosperity -the Bankers' Welfare— Citizenship the Only Class. Id bis address to the Indiana State Bankers' Association that has just come to a close at South Bend- Senator Albert J Beveridge urged moderation as the word of wisdom in all legislation. The meeting wafc notable In point of both interest and attendance. Among the speakers besides Senator Beveridge were Congressman Fowler and Captain W. H Hart, exauditor of state. Particular interest attached itself to Senator Beveridge’s otherwise magnificent address by rea son of his prominence and Interest in financial legislation. He said: The coming session of congress will not enact any radical or sweeping financial legislation *" Except Id great emergencies moderation is the word of wisdom in all legislation. Of no class of legislation Is this more true than at the present moment The stability of financial legislation, ever though imperfect. Is more desirable than sudden and comprehensive changes, even though these changes are toward greater perfection of our financial system. It is Important in dealing with the delicate subject of finance that all changes, even though they are advances in the right direction, should ♦be Jiade with caution! The financial iyirams of every country are growths and not creations In reviewing the history of all legislation in this and other countries it has not been found that comprehensive schemes struck off from the brain of even the ablest men, which on paper and In theory seem perfect, were entirely successful In practice. On the whole a financial system gradually evolved out of the natural requirements of business works better than the most perfect system devised in the office of the statesman or in the study of the philosopher.

"Moderation, Caution, Safety.’* Some moderate firftmelal legislation which •will relieve the periodically recurring money stringency In the money centers is probably desirable and may be enacted. But such legislation •if enacted will be simple in its: nature and will not disturb or alartn ttje business interests of the country: because its consequences will not be farreaching and, to all thoughtful minds, will be plainly beneficial. No legislation Is possible at the coming session of congress which will radically affect our entire currency system and cause the business world to pause In our present prosperity until It Is seeu how such legislation Is going to work. Moderation, caution and safety are the words which will control the action of congress. Moderation, caution and safety are the words whidh are uppermost in the minds of the business men of the nation and of the .whole people. This is neither the time nor. the place for extended argument for or against any proposed reform in our financial affairs. tew simple and fundamental help to a common-sense underffajiding of the problem of finance as relafod to business more than any amount of argument. For example: The total volume of money of every kind and description In the United States Is a little more than two and one-half billion dollars. And yet the'internal commerce of our country each year amounts to twenty billions of dollars. That is to say, our own transactions among ourselves and which wo do not extend beyond our boundaries exceod twenty billions of dollars every year—» volume of business within our own borders eight times greater than the total volume of our money. Business Based on Credit. This twenty billion dollars of Inter-, nal commerce is a very low estimate. It is based upon the yearly value of our products and exchanges In larger transactions. It does not Include our countless small transactions. It docs not include the' flood of commercial paper not available for statistics which cannot generally be traced. Were all of these Included, it is likely that a fair estimate of our business transactions with one another would not be far from forty billions of dollars a year,. or sixteen times the amount of all the money there Is In the United States. This excludes the incalculable volume of commercial paper In renewals and exchange for other commercial paper, which might be properly Included and which If Included would swell the total of our Internal business transactions into hundreds of billions, or hundreds of times the total amount of our own money. As everybody knows, business is conducted upop various forma of credit Impair credit and business Is Impaired, no matter how much money you have. Sustain credit and business thrives In spits of the comparatively small amount of actual cash In U># nation. Bo wa iM that the maintenance of Credit la the one great flaanclal guts-. lion and always moat be. And credit

b only another name for eonfldenca. So the real 'question Is: What wilt continue the confidence that prevails throughout our business world. an& what will impair that confidence? Steady Legislation—No Sweeping Change. Cpnfldence la preserved by reason*, bly permanent adjustment of business to any given lineq of financial and com mercial policy more than by ill other things put together. I do not mean that there should not be gradual changes in all 01 our laws as those laws here and there become oi late; but t do mean that it is better tor business to steadily adhere to some settled line of policy than to suddenly and radically change it. Be-, cause if some sweeping change were enacted Tnto law, no mattei nqw perfeet a system that change would bring about, the bankers ,and business men of the country would alt tight tor a year or two years to aee how it was going to work. That would mean that the whole machinery of our business, which is running on credit, would slow down almost to the stopping point during this period of waiting it would meaD the ' temporary destruction of confidence and therefore the temporary abandonment of our prosperity The Common American Brotherhood Confidence Is also maintained by the belief that everybody in the country is working for the common good The most fortunate development in American history is the spread of this conviction of common American brotherhood and the corresponding decrease of prejudice among ourselves. Of this the relations of the people to the bankers are the most conspicuous illustrations. It has dot been many years since selfish politicians attempted with some success ~0 make the people" believe that the bankers were their natural enemies It was said and believed by many that the bankers’ business was to despoil-the people. It was said and believed by many that It was the hankers’ interest to rob the people of thfeir prosperity It was said and believed by many that the pros perky of the ban kens meant the poverty of the people Prosperity of People and Banker inseparable'But this period of folly h'as passed. No one but the crude demagogue now makes assertions so absurd Everybody understands today that the prosperity of the people and of the banker is inseparable Everybody knows today that the banks cgnnot make any money except when 'the people are making money. Everybody knows today that the banker has no source of Income except Interest on loans and charges for exchange. And when times are hard the banka make fewer loans and have fewer exchanges, and therefore smaller Incomes. When times are good loans are numerous and exchange rapid and abundant and. . therefore, the bank’s Income Is .ejp larged. It is now-well understood that the farmer, the laborer, the storekeeper. the manufacturer and the banker are a great partnership whose inter est.s are not only similar but whose Interests are one and the same. Tbe prosperity of the banker, storekeeper, workingman, farmer, manufacturer and ail men of legitimate occupations stand or fall together. Citizenship the Only Class. §o that any man who wishes to continue bis prosperity must set bis face against any agitator who attempts to influence the people against the banker, the lafioringman against the eraplover, the against the manj ufacturer, or the reverse of any of ; these. I do not think our country has any serious dangers in Its future: but if It has one, that one Is the possibilthe creation of separate - classes in the republic and the warfare of one class against another class. A republic cannot survive class hatreds. The word ''republic” and the word "classes” are In deadly antagonism. In a republic there can only be one class, and the name of that class Is citizenship. There can only be one watchword and that watchword Is brotherhood. There can only be one policy and that policy is loyalty of every citizen, not to or to some class to which he belongs, but the common good of all the people of the republic. Preach and Practice Prudence. We all become Intoxicated In periods of good times with a desire for too rapid Increase •of our Individual wealth. This of courso Is a subject which no legislation can reach. All that any man can do Is to preach prudence and to practice 1L And so again. In the conduct of the business of every bank In the country that word should be dominant which also ahould he dominant with us who are sent hy tbe people to enact Lpe na... tloo*a laws, and that word Is the word wjth which I opened this address —the all-W!se word “moderation.” There never was a period when the tide of prosperity has risen so high as now; and Its highest point Is noL yet reached. But upon tbe shoulders of tbe bankers of the country more than upon any one set of business men depends the continuance of this fortunate condition. But If confidence In the business world is impaired, the Influence which welds all these elements Into effective and practical prosperity will fall. And yet If the bankers without reason indulge in vague apprehensions they will tbemaelvas bring about the very thing which they unreasonably fear. If the bankers begin to Mercian cowardice Instead of prudence; If without any_reason except timidity they begin to contract their loann and reduce* their credits, that confidence upon which all business rests and of which the bankers them* I salves are the beneficiaries will be bar •aired. • L

MENTAL [?]NSION

Hard to Realise tbe Ulfficklty at Keeping- a Natural Pose. We never know how active our Imaginations can be <lll we let them 'out or till they get the better of us for Borne reason. V A major in the army recently admitted that when he went Into action for the first time he was so scared that he did not know which way was north, but he had an overwhelming desire to reuch it, wherever it was. Yet, aftej. six or eight battles and after being wounded a couple of times, he regarded battles very much as people hereabout regard the evening fight at the Manhattan end of the bridge, says the Brooklyn Eagle. Cases of wanting to run when bullets fly are by no means difficult to find. But a young soldier in Brooklyn confesses to a more queer experiences His regiment was in camp and had been ordered out for dress parade, as usual. Wheu lined up for inspection, every man as still as a ramrod and not a w' te glove moving, this young man, a lieutenant, began to ask himself: “Suppose I should slip, or anything, to brr.k the quiet? Suppose I should fall?” The idea of falling kept growing in his mind till before the inspection was over and the regiment was allowed to use its feet once more he could hardly keep on his legs and was in a great sweat of agony from the dread of tumbling over and making an exhibition of himself. People who have never tried it do not realize how hard it is to stand absolutely still and yet appear interested and at ease. Artists’ models succeed at ft. especially those in Italy, and will hold a pose not too difficult for an hour. Actors, when they group about the man lu the center (of the stage, who is enjoying all the limelight—and how they hate them for it—are required to keep still, so as not to distract attention from the great man’s sayings and motions, and because they must group in such a way as to form a picture and keep it till it can be realized by the eyes in front. But this enforced statuesqueness Is hard on th# supes. They pre not used to it When they are put urn der the strain, and when as Roman warriors they must stand at the back without winking while Brutus or Virginius or some other ponderous person unbosoms himself respecting love or politics, they are in a small torture. One such last season who could no longer abide it to listen to the soliloquy by the head man pitched over on his face and had to be lugged out by the arms to the spoiling of the scene.

Babies Never Get Seasick.

“Babies never get seasick. I have carried thousands of them in my time,” said an American line steward, according to the Philadelphia Uecprd, “and in rough weather I have seen their fathers, mothers, brothers and sisters keel over like soldiers before a cannon ball; hut not so with the babies. Whether it be rough or smooth at Bea, a baby is always an excellent Sailor—ropy, Jolly and with the appetite of a horse. Da you know the explanation of this singular fact? It is as simple as the fact Is strange. Babies don’t get seasick because they are accustomed to the rocking of t,he cradle. That movement is much ike the roc-kiug of a ship. A baby aboard ship, therefore, Is merely n baby In an unusually big cradle, and there is nothing odd to him about the rocking, for it is what lie has been accustomed to all his life.”

Capacity of Boxes.

A box 4 inches square and 4 1-5 Inches deep will contain one quart; 8 Inches long by 4 Inches wide and 4 Inches deep, one-lialf gallon; 8 inches long by 8 2-5 Inches wide and 4 inches deep, one gallon; 8 Inches square and 8 2-5 inches deep, one peck; 16 inches long by 8 2-5 inches wide and S’ Inches deep, one-half bushel; 1G inches square and 8 2-5 inches deep, one bushel; 14 inches wide, 23 1-5 inches long and 10 Inches deep, one and a half bushels; 24 inches long by 1G inches wide and 14 Inches deep, two and a half bushels; ?4 inches long by 16 Inches wide and 26 inches deep, five bushels.

Rainwater Good if You Like It.

“When a man gets used to drinking rainwater,” said a New Orleans man to the Washington Post, “there is no other water in the world that tastes so good. Most of the people in New Orleans have cisterns in tlieir yards which hold an abundant supply of water caught from the clouds, the purest and best in the world, according to my notion. The winter rainfall alone is used, the summer catch not being desirable. It Is somewhat curious that in northern latitudes the cistern water does not keep wholesome ami sweet as R does In our country.”

Had No Time.

The Boy's Father—Madam, lac me ask if your daughter know# bow to run a house—can epok, .for example, and nurse the s)c1l mend clothes and. lu fact, Is familiar with nil the multifarious details of domesticity? The Girl’s Mother—Certainly not, air! Why, If she had learned all those things, her education would have been neglected.—J udge.

A Change.

“Well,” said Noah as he hunted for a dry spot on the top of Ararat, “a lot of people came down to the pier to Josh us when we started, but I don't see any of them around to poke fun at our hogre coming,”—Life.

How It Happened.

Judge— How did you come to club this man bo severely ? Officer—Well, yer boner, be kept parflctly ah till an’ wudn’t dodge a single crack 01 made at him.—Judge. ■ .imk He who give* a trifle meanly Is maa»i ar than the trifles J

MAKE HASTE SLOWLY

Indiana Paper’s Advice as to Voting Machines.

(Crawfordßville Journal.)

The cry Is going up for voting mar chines from all parts of Indiana and from men of all parties. The law allowing the use of machines has been on the bookß four years and yet not a, single machine has been used. It is now spriously proposed that the legislature shall pass a law making their use compulsory all over Indiana. The enthusiasts who are suggesting such action will probably cool off in a few weeks. While the idea Is a good one in many ways the state of Indiana could not afford to hull the voting machine market by creating the necessity of purchasing 2,500 machines by 1904. The companies making these machines are already to a considerable extent in a combination and such a law would simply put the people at their mercy. It might do to compel all counties containing large cities to buy machines, but, better yet, the Journal would suggest that each county in the state he compelled to buy at least one machine for use at the next election. This would divide the expense of the experiment over the state and the benefits as welL Doubtless all Varieties of practical machines would get a test and the results could b« compared before any county went to the expense of a full equipment. As a matter of fact there are several practical machines on the market, a number of impractical ones, and Improvements are being constantly made. But there is also a vast amount of dense ignorance on the whole subject and it would be comparatively easy for a board of commissioners to make a mistake hy buying the wrong machine, which would cost the taxpayers a lot of money. Lpt us proceed with the use of voting machines steadily and as rapidly as possible, but not precipitately. The Utmost care should be taken to select the very best type of machine.

Perennially Present.

There will be no Populists in the next campaign, that party being practically extinct. It was a protest against poverty and prosperity killed it The Socialist party is growing, however, and the Indications are that like the poor we must always have the “isms” with us.—Goshen NewsTimes.

Will Keep Taxpayers in Mind.

The legislature will not pinch state Institutions, but it will at all times have In mind the tax rate and the man who pays the tax. Marion Chronicle.— r

Newspapers as Educators.

It Is apparent that there Is a grow ingtendency among the political newspapers to have more politics between campaigns an,d less during campaigns. In other words, the educational process is going on all the time and a great deal of the work has been accomplished before the campaign proper begins. This is better, as it lessens the Intensity ani,bltterness of tbe campaigns. The policies of the parties are before the country all the time and they are subject to discussion and criticism and it is not at all necessary for either party'to wait until the campaign proper begins, to attack the policies of that other party. By a full and thorough discussion by the of all political or governmental measures as they come up, the people become familiar with the policies, doctrines or measures, and the arguments for and against them and this s-eatly obviates the necessity of an Intense campaign that paralyzes business and brings everything to a* standstill until *the election Is over. This is a distinct advance in political methods, and it has many arguments in Its favor. —Columbus Republican.

An Economical Government.

Two or three points in the report of State Auditor Hart deserve special attention. One of these is that Indiana has a cheap hut effective stste government. Under the direction of the auditor of state are two branches which in most states are operated as separate bureaus —insurance and banking. It is safe to say that with such auditors as Mr. Daily and Mr. Hart these two important interests could not have been more intelligently and effectively cared for. In no state has insurance, both in life and fire, i been placed upon a sounder basis than It has in this state by the two auditors named. The same can be said of state banking, which now Includes building and loan associations. This excellent service has been obtained at a cost not to exceed one-tenth of what separate Insurance and banking bureaus would and do cost in other states where the requirements upon such officials are not greater. It is well to dwell upon this fact, because In nearly every legislature movements are made to create an Insurance department, with a superintendent at a salary of $3,500, a deputy at half that compensation, and three or four clerks and stenographers. Other states where there Is no more business in connection with Insurance pay $25,000 annually to maintain an Insurance bureau. The same Is true of a railroad eoramlsalpn. It Is not needed "since, so far as taxation Is concerned, the tax commission can act When it comes to Inspection no company will take the risk of defective bridges, while the ooroner Is the officer to Inquire Into the causes of •eddsnts/—lMlanapolla Journal

INCENTIVE TO EFFORT.

The tenon Lincoln's Life Tenches te the Idle Bern. It is human nature to take it easy when we can, and with most people a biff bank account will paralyse effort and destroy ambition. Who can tell what would hgve been the effect on onr national history had Abraham Dincoin been born in luiury, surrounded with great libraries, free to the multiform advantages of schools; colleges and universities, the manifold opportunities for culture that wealth bestows? Who shall say whether the absence of all incentive to effort might not have smothered such a genius? What wealthy, city bred youth of to day, glutted with opportunities for acquiring knowledge, can feel that hunger for books, that thirst for knowledge that spurred Lincoln to scour the wilderness for many miles to borrow the coveted “Life of Washington” which he had heard that some one in the neighborhood owned? What young lawyer of our day goes to a law school or library with such a keen appetite, with such a yearning for legal knowledge, as this youth had when he actually walked forty-four miles to borrow Blackstone’s “Commentaries?” Where is the student in college oi university today who experiences that satisfaction, that sense of conquest, which thrilled Lincoln while lying on the floor of his log cabin working out arithmetical problems on a wooden shovel by the light of a wood fire or enthpsiastically devouring the contents of a borrowed book, as if his eyes would never rest on its pages again? On reading Lincoln’s Gettysburg speech and his second inaugural address foreign . readers exclaimed, “Whence got this man his style, seeing he knows nothing of literature?” Well might they exclaim, but their astonishment would have been still greater had. they known that these eloquent utterances that thrilled tli<? ..nation’s heart had fallen front the lips of one who in his youth had access to but four books—the Bible, “Pilgrim’s Progress.” Weems’ •'•Life of Washington” and Burns’ poems.—Success.

LAV UP YOUR TREASURES.

No Man Should Spend the Whole of His Income. 1 Is any one too poor to save? is an important problem which ihe readers of a London daily are at present attempting to solve. Tbe question is not by any means a new one. It is one which has troubled past generations, just as, In all probability, it will affect the generations yet to come. We cannot saj that this latest discussion of the subject Is throwing; much. If any, fresh light upon it. In the first place, there is a diversity of opinion regarding tbe term “poor.” One man, who derives an income of $1,350 a year from private property, fancies he comes under the category, while another does not consider any one poor who has an Income of SSOO a year, says a writer in Leslie’s Weekly. It is manifestly impossible to fly any limit in a matter like Jhls. Very much depends upon tbe locality and the conditions and surroundings of the Individual. An- Income that would be amply sufficient to insure a family a comfortable home, excellent social advantages and a good living ifi a country village would mean many priva-f tions and sore discomforts in any large city. On the whole, however, we are -inclined to believe that Max O'lteU’s views on the point under discuSion come nearer the safe and common sense rule than anything wa have seen. “I do not care,” he says, “how small the income of a man Is, he should never spend the whole of it, especially if he has a wife and children. He should at least save enough to pay every year the premium oa a good life policy. No man is worthy of the name who does not do this, at least, at the price of whatever privations he has to submit to. Some pleasure may be derived from high living, but certainly no happiness.”

Why?

One of the wonderful things is that a woman of fair intelligence will paint her* cheeks like a clown’s and apx>ear on the streets. Why does she do It? Does she Imagine that people think the paint Is bloom of youth? Does she not know that people laugh at her? There are two things that people are quick to notice—when a nmn wears a wig and when a woman paints her cheeks, —Atchison Globe.

The Oculist.

Pati^nj—l can’t see that there’s a thing wrong with my eyesight.Oculist Jonnhvyse —The most positive proof that you need glasses, my dear sir, when you are unable to see anything so plain us that!—Los Angeles Herald.

Accomplished.

Mrs. Gimp—ls Miss Stitcher much of a dressmaker? Miss Fiping—Splendid. She never has to make a dress over more than two or three times.—Boston Transcript

Fruity.

“She’s evidently the apple of his eye." “He told me she was a peach.’* “So? Well, at any rate, they are a fine looking pair."—lndianapolis News. The Heed of Mollih Sods Mint. Under ordlnury social and gastronomic conditions there Is probably a great deal more heartburn than bearttfarnInga—lndiana poll* News. Advise sn old man to marry a woman young enough to be his daughter, and be may ask If you take him for a fool, but he will not be offended.—Atchison Q lobe.

LOST HIS NERVE.

Why I* Wu That Big Pete Failed to Hit the Sheriff. There were thirty mep-Tn the Whit* Wolf saloon when tbe sheriff of Silver county sauntered in to arrest big Pet* Thompson for murder. Pete was playing a hand in ja game of poker, and after nodding to him tbe sheriff stood up at the bar and called for a drink. His back was Scarcely turned when Pete laid down his cards, pulled his gun and fired six shots as fast as his finger could pull the trigger. The sheriff never moved. When the smoke had rolled out of the open door and we could see, the sheriff stood in the same position and wore the same smile. One bullet had burned his cheek; a second had grazed his ear; a third had cut through his shirt collar under the left ear. Big Pete was a dead shot, and yet he -had massed bis man at fifteen feet & “Got through, Pete?” asked the sheriff, breaking a silence that Was posttively painful. “And you—you are not heeled !” gasped Pete as bis arm sunk slowly down. v

“No; come on.” “You didn’t bring your guns?” "No; if you are through shooting, we’ll go.” Pete laid his two guns down on the table before him and * walked to the door and out into the street. His horse was tied to a post a block away. He reached the horse, mounted and then headed down the long street after the sheriff, who was giving him not the slightest attention. In five minutes the pair were out of sight. “What ailed Pete?” was asked of the barkeeper, who bad come to the door of the saloon. “Lost his nerve,” he brusquely replied. t “How do you mean?” “Why, the sheriff coming without a gun and standing there to be shot at took all his sand ..way and made a woman of him.” “Suppose the sheriff had had a gun?” The man jerked his head toward the field wheroin fifteen or twenty victims had been buried and said: “He’d ’a’ bin over thar.” “And will big Pete get clear?” “Likely; but he’ll have to leave here. The- boys have already put him down as N.' G.”

WAVES OF WATER.

Tbe Nile i« the p;;!y liver in the voil-.I t.lu'ij H ,\vs i'„r miles without :l tti; t?t:l£w A the <’.•>•(* of Geo:! waves til./; •b: feet high to crest lift ve been noted. rrisjuafic lake, in tbe Yellowstone National park, is the larges; body -of hot water in tlie world. Three rivers as big as the'* Rhine would just equal in volume the Ganges, three Gaugeses the Mississippi and two Misrissippis the Amazon. The St. Lawrence river is frozen four months of the year, and its navigation is so difficult that an average of one steamer a mouth is wrecked in its waters. Askel Chin, In Tibet, is the lakd which lies at a greater height than any other in the world. Its level is 1Q.600 feet. The lowest is the Dead sea, 1,200 feet below the sea level.

Not All Refermed.

At a dinner given" by a philanthropist to tbe Society of Reformed Criminals a gentleman complained to his host midway through the festivities that he had lost his watch. The host was a man of great ingenuity. He “ caused all the lights to be turned out Then he observed: “Some one here lias a watch that does not belong to him. If by tbe time I have counted a hundred it is not placed on the ftoor in the middle of the room, the police will be sent for.” He counted a hundred, and the lights were turned on again. Thirty-three handsome watches lqy in the middle of the room.

It Was Bad.

The other day a young London street arab, having found a bad sixpence, was trying to make use of it at different places, but to uo purpose. At last he went into a tobacconist’s and asked for a threepenny cigar. Having got the cigar and also the change, he was leaving the shop when the man called out: “Come back here; It’s a bad one.” “Never mind, sir,” replied the youngster. “I'll smoke it if it makes me iIL” And he bolted out of the door.—Pearson’s Weekly.

Found It Enjoyable.

Miss ABcum—Did you really attend her wedding? Miss Wryvejl—Oh, yes. Indeed, and I enjoyed myself Immensely. Miss Aseum—Did you really? Miss Wry veil—Her gown didn’t fit her well at all, and I heard several people say she looked a perfect fright. —Philadelphia Press. * a

How She Talked.

Diggs Smith's wife Is deaf and dumb. Biggs—Doea she talk with her fingers? Diggs—l guess so. Smith hasn’t a dozen hairs left in his head.—Chicago News. > a - ~A a

Lumping It.

“My coffee la not quits sweat enough,” remarked the new boarder. “Well, If you don|t like It you; can lump it," retorted the cheerful IdJ* pushing the loaf sugar his way.—New York Times.

Too Rough.

*T wish you had broken the news more gently,” sighed the editor as the office boy pled the first page by dropping the form down e flight of stain*-* BaltLdior® a nwrfaea