Rrjp.T"v hpj-h--
v IST'T
( 'JW
iiri i
- n
N
THE SCRANTON TRIBUNE-WEDNESDAY, OCTOBER 10, 1900.
frt'n
T)
m
m-
I
r
fi
?-
-V5S
?'
5)
(S
ifi?
s
a
ss
.Si
&' r
av
i
P'-
' h
I
-
(Se Scranfon $riBum
rt . ... .... pi. I, iii.
rulilldlicil IMIly, V.xttft tin y i.j ",:
lino Publishing Company, l Kilty '"'t!!.-.0-:-:
l.tVY 8. HirllAltn, ttrtltor.
O. K. DYMUli:, nmliic'M Mitnaircr.
. York Ofllcc! 1M K.i Mj:.fiAm
t Solo Audit tor I'nre'gn Advertising..
KntcrcJ at tlio l'ototllc at Scnnlon, 1M., m
feciniid-Clm, Mall JUttcr.
Wtnti apitro will prrfnlt, The Tr bun .''
bU,I In print nlu.it Ictlrri from ll fricn.l
S Inir rn tiiircnt topics but ll mlc li lint these
' mutt lip oIrikmI, lor puhlltntlon, l.y II'",",'1'""
teal name: ami the comlltlon prirrdcnl toy
mint In- pIrikmI, lor nulrikntlon, liy
teal name; and the condition prior
t entailer' Is Hint all u.iitrlbiitlotu fli
Ject to cdllorl.il letMnn.
SfJIlA.NTON, OCTOBEIt 10, 1900.
REPUBLICAN NOMINATIONS.
National.
Preldnt-Wlt,UAM McKINlXV.
VIcc-lTcsldcnt-lllKODOlli: UOOSI.VhtX
State.
Cowrrejsinen-at-Laiuc (lAIX'SIIA A. (IIIOW,
iioiiiMiT it. Focitui:iti:it.
Auditor Oeneral-E. II. IIA1IDI:NHKIK1H.
County.
ror.(ire-WH.M AM C ONSEM..
JudRC-pKOttdK Jt. WATSON'.
ShertlT JOHN II. ITI.I.OWS.
Trcasurer-J. A. hCUAMON. .,
District Atomcy-WILLIAM It. l.bttlS.
ProllimioUrj JOHN mi'KliAND. . ,
Clerk of Courts-TIIOMAS P. MANIIAS.
Jleccrder of Deeds I'.MIIj IIOXN.
ItCKisler of AVIIIa-W. K. IIKCK.
Jury ConiinUsloiicr-L'llW'AHD B. &TUR0L3.
Legislature.
I'lrst Distilct-TIIOMAS .1. nr.YNOl.TlS.
Second I)lstrlct-.IOIIX SCIIKUIlii, ."I.
Third DMrlct-KDWAHU JA.MKS, JIt.
Fourth Ul3trlct-P. A. I'll I LUIS'.
"If there Is any one who believes
the gold standard is a good thing,
or that it must be maintained, I
warn him not to cast his vote for
me, because I promise him it will
not be maintained in this country
longer than I am able to get rid of
it." Wiliam Jennings Bryan in a
Speech at Knoxville, Tenn., Deliv
ered Sept. 16, 1806.
"The party stands where it did in
1806 on the mouey'question." Will
iam Jennings Bryan, Zanesville, O.,
September 4, 1900.
The Recorder of Deeds.
AMONG THE candidates offer
ing themselves on the Re
publican ticket for the
suffrages of the people next
month, none Is more deserving of en
ergetic support than Emil Bonn, who
aspires to be Recorder of Deeds. Mr.
Bonn for years lias been a familiar
figure in and about the court house,
and by industrious attention to his
duties, uniform courtesy, and never
failing good nature, has made for him
self a host of staunch friends among
citizens of all party affiliations.
His presence on the ticket is in the
nature nf a promotion. He began In a
subordinate clerical relation, and he
now for the first time, after years of
training and faithful service of the
public, comes before the people for an
elective office. Not only does he rep
resent to an auspicious degree demon
strated personal merit, but he also is
a representative of one of the large
factors In Lackawanna Republicanism,
namely the voters of German descent.
By this element in our population he
will- bo supported, it is believed, with
practical unanimity. By them ho is
known and trusted. Having recogniz
ed in his nomination a compliment to
themselves, their appreciation of this
compliment will bo demonstrated by
an unprecedented rally in his behalf.
But Mr. Bonn's candidacy appeals to
Republicans everywhere without re
gard to racial considerations. For
years he has been one of the active
young wheel-horses of the party. Few
men of his years have equaled him in
political activity In behalf of Republi
can candidates and principles. Ho Is
a tireless worker, a shrewd and suc
cessful organizer, nnd a happy illus
tration of tho successful young man.
He should receive not only every Re
publican vote cast in Lackawanna
county, but a large complimentary vote
from citizens of other political pro
clivities who recognize in his candi
dacy a peculiar claim upon public
favor.
Mr. Bryan found little to comfort
him In the way ot calamity In the
Populistic area of Kansas and Nebras
ka this year, but he Is said to have
felt at home in tho Indiana gas belt.
False Prophet of '9o.
PROBABLY one of the most ef
fective arguments against
the consideration of Mr. Bry
an us an applicant for a na
tional office of trust la given by an ex
change that calls uttentlon to a sched
ule of the falsa prophecies of tho man
who seeks the presidential chair, avow
ing that he will attempt to put his wild
theories Into practice as chief magis
trate if allowed tho opportunity, A
glance ut a few of the prognostications
of, the champion of sllvor, made at
bUfidrj' times since tho "crown of
th"6Tns "and cross of gold" stampeded
the Democratic convention In 1S0S, will
give tho reader an Idea of Bryan's
mental calibre, soundness of Judgment
and "ability ob a hoothsayer. In 1S91
he -'predicted that wheat, per bushel,
and the sliver dollar would ilso and
fall together, being made by Trovl
dence, commercial Siamese twlna.
Alas! that wheat went to a dollar and
sllvor dropped to 47 cents. Ho prophe
cled that tho gold standard would re
a'uee our money supply, We have over
12,000,000,000 in gross and the highest
per capita In. tho history of nations.
He proph'ecled that labor would he
thrown out of employment and labor
has never been so steadily employed.
Savings bank depositors Increased 800,
000, and deposits Increased $300,000,000.
He prophecled that business failures
would llll the land with distress. From
1892 to 1880 there were 15,000 business
faUnVes, "Involving over $200,000,000 of
losses. ' From 1S96 to 1900 the failures
Bhrunk 10,000 and the losses to $20,000,
000. He prophecled that the United
States would he shut out of the mar
kets of the world. In the last three
years we have exported a greater
amount than for 108 years previous. In
these threo years we have Increased
the balance of trade In our favor,
tl.600,000,000, and that balanco is In-
creasing at the rate of $1,000,000 per
day. These llrrtires nnd facts are stu
pendous, (nit they tiro only part of tho
largo nrray or facts of r-qunl pertin
ence. Bryan himself is n living witness ot
this prosperity, nnd If the nnscasment
roll of his own town is any criterion,
ho has twenty tmos mote taxable prop
erty now than In 189G. Undismayed at
the multitude ut his silly prophecies
nnd nt loss ot the business element In
his own party, ho comes forward every
day with new nostrums and now pro
phecies about trusts and Imperialism.
The bogle Issue of Imperialism he calls
paramount. The money question ho
culls nil Immediate Issue and the trust
question a vital Issue. It would seem
that u discredited prophet would re
tire from the business. Not so, Mr.
Bryan. He has a now Job lot for every
emergency, and ho now prophecies If
McKlnley Is elected that there will be
no more Fourth of July celebrations,
as tho empire Is upon us. On matters
of fact he Is woefully Incnnsistcnt.whlta
unfulfilled prophecies dnnco like weird
spectres In the cemetery of Democratic
dead Issues.
It Is Indeed no wonder that observ
ant people of Mr. Bryan's reputed fnlth
as well as those outside of tho party
that Is known as tho ghost ot Dem
ocracy, arc beginning to regard his
campaign as a huge Joke.
Tho war in the Transvaal Is over,
but in spite of the recent election re
sults In England the wnr with tho agi
tators Is liable to continue for some
time hence.
As to Railroad Reserved Seats.
A QUESTION of Interest to
every railroad traveler has
recently come before a
court In New York, though
it is feared that it will not be decided
In a Avay that would be of Greatest
benefit to the public. Briefly related,
a passenger placed IiIr valise upon one
of the car seats, as .an evidence that
the latter was occupied, and then tem
porarily departed. When he returned
he found that another passenger had
placed the bag upon the floor and was
comfortably ensconced In the seat.
Thereupon, as the evidence shows, the
owner of the bag, after demanding the
seat In vain, fell upon the Intruder and
smote him hip and thigh. A suit for
damages for assault and battery Is the
result.
Undoubtedly the judge will hold the
defendant guilty, on the ground that
assault Is punishable, and it is prob
able that tho merits of the case will
be ignored. It would bo a happy out
come of the fray, however, if the court,
venturing beyond the strict limits of
the case, decided upon the value of a
valise as an evidence of a reserved
seat. It is true that the silent but
visible Indication of seat ownership is
generally respected, but occasionally
one meets upon tho railroad cars, as
elsewhere, persons who are callous to
the courtesies of life. There is no law,
of course, which makes Ithe valise a
valid lien upon tho seat. It can be set
aside If tho newcomer Is so disposed,
and non-interference with it is purely
a matter ot courtesy.
What the public desires most Is a
judicial opinion upon the validity of
the gripsack as a claim to u seat. If
the judge could give an opinion that
would forever settle this question he
would confer a boon upon traveling
humanity that should make his name
a household word.
The Ithaca Journal calls attention to
the fact that Senator Depow in a re
cent speech not far from Ithaca said
that four years ago there were thiity
soven miles of empty idle freight cars
on the railway tracks of the state. In
commenting upon the fact the Journal
says: "Now, thanks to tho confidence
given to business circles by Republi
can management of public affairs, the
railroads are so rushed thnt rolling
stock Is at a premium. The former
president of the New York Central Is
In a position to give opinions, nnd a
terse comparison such as the foregoing
should make many votes for tho party
that brought prosperity. Will the
American people continue the present
happy state of affairs, or go back to
tho condition they were in four years
ago?"
An exchange calls attention to a
peculiarly despicable form of fraud
which seems to have been attempted
In the scheme which comprises send
ing out canvassers clud In a mili
tary uniform to solicit subscrip
tions for a book purporting to bo
the official record of the war with
Spain, issued by the government of
the United States. Well-informed per
sons know that the government does
not engage In the book subscription
business, but there are doubtless many
people, especially In the more remata
sections of tho country, who are likely
to he deceived by the fakirs, unless
they are exposed by tho press, This
sort of fraud Is but a grade above tho
crime of the Individual who circulates
pewter half dollars, and should bo
looked after by government officials.
Tho war party of England received,
sub.stantlal endorsement at the recent
election. This may ba taken as a straw
that Indicates that hi tills country as
well as in Great Britain the principal
racket of tho campaign Is being mudo
by tho howling minority,
Those persons who cannot under
stand why the Hon. Adlal 12. stoven
son cun run on the Kansus City plat
form after Indorsing sound money In
1892, simply admit that they are not
acquainted with tho record of the man,
No recognized government opposes
the policy of the United States In the
Philippines. Tho entire opposition
comes from Agulnaldo and the Dem
ocratic party,
" i . ..
Mr. Bryan produces a decided novel
ty in argument when ho declares that
the way to continue McKlnley times la
to defeat McKlnley,
It begins to look as though Mr. Bry
an's slock of calamity would be entire
ly exhausted before election day,
The imperial government of China
still bus difficulty In securing a suit
able building site-
INDUSTRIAL
COMBINATIONS
tCanduilnl tiow l'p 1 )
careful flnanclnir, opens wider mir'icls and
Btumtntcci inciter ronfldrncc and Ktablllty It dt
redly In tho Interest of (.ipllat, nllli')iili tho
rato of return on capital thereby ttwllly re
duced. 1 lie dividend received liy shareholders are
laritir than tho Interest rattn, became the rlilt
It urentrr, und inmcour, helnit partner to a
laruer ahare hi the advantage of combination.
Still, II 1 doubtful If tho awroirate of dividends
I anyvvlmto ncir a larue a llic. aggregate, of
Intercit. Moreover, dividend n arc never ab-o.
hilly fcrtaln, and they nro lieur pall until la
bor and superintendence have first had their
klmic.
(J) Now, what I the position of the man of
superior Intelligence? (or wipcrlnlendeneo stands
midway between capltnl and lubor,
Necessity for Intelligence.
tllphly developed orgnnltaltoiitt icauHlna; In
enormous volume of business have Incrcancd .Ilia
necessity for Intelligence, and a. the supply of
brains Is not equal to the demand, therefore tho
price of brains is high. The turning ovvr of In
dividual businesses to combinations has cawed
tho retirement of old men to tho advhory board
for Judgment and has made way for young men
tor action. You ask, "What chances have our
joung men!" White you are aslilng tho ques
tion, those of ability end energy have already
started on a career of successful Induetry. If
tho student will leave his bonks and tho orator
tho stump and go to our factories, to our great
farms, to our mines, to our lines nt railway
and they will find ten times as many men ic
celvlng over $3,000 per annum as there were
thirty years ago.
Mr. Schwab, of Pittsburg, Is a tjpc Ho
started as a stake driver of the engineering
corps; tod.ty, though under 0 years of age, he
Is president of the largest Iron company In
the world, and 1 can point out a hundred sue
cc(ul men today vvheic you could not have
named ten under old conditions,
Hut It Is said, they are dependent. Depend
ence upon each other Is however tho condition
cf clvlliAitlon. The very word civilization implies
community lite, and community life means mu
tual dependence. Comph'to Independence U
found only In the wigwam of the Indian. Tli.-re
the joung man butliU his own house, makes his
r.wn clothes, geti lil own meat, and ketps hi
bank account, If he has any, in his pocket. The
best opportunity he has for distinction Is in
showing supeilor prowess In hunting, or supe
rior slnnglh in paddling his own canoe, m
civilized life, Interdependence, is more profitable
than Independence. Your voiing man, Instcid
of paddling Ids own canoe, run command one
of those great combinations, which Is ilolng so
much to benefit the vvoild the steamship. The
fact of tho man on tho bridge being dependent
on the engineer, who is lunning the powerful
machinery below, does not prejudice blm any
more than the engineer is prejudiced by taking
his oiders from the mjn on the bridge; each
gives the other his opportunity.
Was Captain Chilli les-i the commander or
Chief Mllli-Tan less the engineer, because they
were dependent on each other in making the
historic run and the splendid fight of the
Oregon?
Utility of Organizations.
You might just as well say that a man has no
nppnitunity in political life because we have a
police fysteni and no man can do as be pleases.
On the contrary, Just as a good syste.n of na
tional police is a guaranty of liberty, so mere
great organizations are guarantors of opportuni
ties, which otherwise would never exist.
Hut let ns not spend more time in consider
ing who will take care of these young men of
high aspirations and mpcrior intelligence; they
will ti-ke care of themselves. The Almighty has
given the groat power to superior intelligence,
and as Samuel .1. Tilden, one of Nature's great
monopolists in the domain of intellect, has said:
"You cannot substitute the wisdom of the
senate and assembly for the plan of moral
government ordained liy Providence."
(3) Let us now consider the Interests of the
workingman in this economic evolution which
has nroduccd the perfect machinery and giant
tactoiies, suppnitcd by great aggregates of cap
ital represented by shares which enable all to
bcome investors. It is a fundamental fact that
the man of superior ability cannot accumulate
for himself without giving to the wage-earncra
an opportunity to cam the larger share, and it
is always an Increasing share.
The tendency is today to a minimum oi
profits anil to n maximum of wages.
When profits become abnormal, they invite
competition, and are immediately reduced; In
which case, the consuming world Is benefited
solely. If they aic not sufficiently abnormal to
Invite competition, then labor demands a larger
share of the profit, In the form of increased
wages and it is either voluntarily or necessarily
agreed to; in which case, the body of wage
t.irneis leap the advantage. And, inasmuch as
the body of wage-earners is the great body ot
the community, it necessarily reaps the advan
tage in any lase. Kniplojes Know almost as
promptly ns do the emplojers, whether a mill
Is earning an otr.ivigjit profit. If it be, they
at onee demad their "hare, and the employer
must r.nd inevitably does, succumb. It Is thiif
that wages alw.ijs tend to a maximum, and
profits to a minimum.
High Standard of Wages.
The maintenance of tho high standard of
wages now pitd in the United States fs abso
lutely dependent upon our realizing the advan
t.igc'3 which cninn through superior organisation,
Wc aie today shipping manufactured goods to
coiiutites where Hi" rates of wages avenge 40
per lent, less than our wage-earners arc receiv
ing. Of our exports of manufactured goods, 80
per tent, are produced by largo industrial coi
pnr.it iuna. Articles ot minufacture which we
do not produce through consolidations nro being
almost entirely supplied to the neutral markets
by tho cheap labor countries Oermany, Belgium
and England. Ths centralization of manufacture-
and ennsccjuont use of special machinery
have emancipated the dsve have raised the
American workman to tho position of overseer,
not of pauper labor, but of its productive cqulva.
lent, machinery. And he Is receiving, and is
entitled to, the wages of superintendence. Note
the continuous substitution, through the use
of larger capital, of mental labor and manual
skill, for pure brute force, Nothing illustrates
this better than the evolution from the galley,
v.heie this sole power is muselo at the end of
tho nar, to die modern steamer. Notice also
tho moral difference, The man at the end ot
the oir was n slave, The modern engineer U
a freeman of the highest tvpe.
Now, the Intelligent labor leaders understand
(tils perfectly. It was my pleasure to en
tertaln at my home some of the best Known of
these. Speaking of labor conditions, 1 asked
one of fhriii to deflno the difference between his
organization and that of the professional agita
tnis. lie replied; "Wo hope to bring about
by evolution what they claim should be ac
complished by revolution." They sold that
ihey weliomi'd ncv machinery, because it did
the work which hid heretofore degraded labor,
lite- vvuirc-fdincM of the I'lilti-d Slates are, to
day cnV.vim: a higher standaid of living and a
larger niCHuro of well being than wagu-earnera
lnvo ever lieforo enjoyed In tho hlsloiy of the
world. They aie tho real money power. The
railroad managers have rails and rollln; stock;
lb" miner has mines; the manufactuier lias
lulcKs, mortar and machlneiy, and most of
them have debts, and many are mortgaged' tn
tho banks for Favlngs; but the vvagc-eirners In
the United States have on deposit In cash in the
savings banks, subject tn call, two thousand five
hundred millions of dollars.
Co-operation Benefits Labor,
Thus through co-opeiation and combination
every Interest Is being benefited, but labor most
of all. As wage earners become more intelli
gent, as they bcome overseers of machinery, they
better uudciEtund these conditions. They have
the Intelligence to iccngnizc (hat their greatest
comfoit and lupplnesi is In fmthcrlng the
Industry of which they are a part. Today one
of the great advantage that the United Mate
has over Europe Is that Its laboiers are the
more Intelligent, are tho healthier and happier,
The European wage-earner, instead of welcoming
labor-cavlugs machinery as our vvorMngmen in
the United btates have done, lias tried persist
ently to retard Its general ue, anil tho result
has been that while wages have been lower la
Europe the Amciican workman has received more
because he has produced more, and this Is the
great reason why, uotwitlistanding our high
wages, wo aie so rapidly cxtcndlnif our trade
with foreign market. The best factory in
evitably gets the most work. Them is a con
tinued struggle for existence) between good fac
tories and poor factories, and the good factory
invariably wins.
Tho law ot consolidation of capital and divi
sion ot tabor holds us good In the field of rtls
trilmtlon as In that of production. It Is In.
evIUbl and It Ik profitable. The department
Itorea and llic money order ilores sell for 10
per cent. Instead nt SO per cent, profit, and the
consumer thus mvc 2ii per cent. The! profit
obtained by thj dlrttlbulor of ataplea, tn lhe
way from the farmer to the consumer, Is lcs
tlmti one-quarter vhat It was tbltty years ago.
The farmer secures a wider market, Hie con
sumer gets his staples Just io much more)
cheaply, and the enterprising middleman avails
of Improved banking and transportatleu facili
ties to do i lirger business. This Is why- h
hat adopted as hli motto, "quick sales ind
snail proflls."
The real benefits nf "capltallitln production,"
f compared with production on l small idle,
iru twofold, The first and greatest benefit cf
Industrial combinations gov to the whole body
of the- community as consumers, through reduc
tion in prlecs, The next benefit, and that nott
most largely distributed, tfoea, as t have shown,
to the workers through Increase of wages, and
thus It hoppons that the vvotklngman gains
simultaneously in two vvajs. He gel more
money for Ills work And more goods far Ids
money.
Regard to Capitalisation.
Having review ed llic position of our great
consolidated corporations as the results of an
economlo evolution, I feel that something should
be said with rtgard to their capitalization. rn
general there has been much greater conserva
tism in the capitalization of Industrials than
there was In the original capitalization ol rail
roads. Our rallrcads were built prlncpally for
the amount of the bond sauc, and the stocl.
reprcser.tcd the capitalized hopes of the projec
tors. The Issues of Industrial bonds have been
considerably belovr tho actual value of the tangi
ble, assets, and Industrial stock issues have gen
erally been Ijascil en acluat earning capacity.
Still it It undoubted that there has been more
than one Instance of marked ovcr-capltalizatlon
ot Industrials, and no proper legislative measure
to remedy this wrong or prevent its recurrenca
ahould be neglected.
Fortunately, the evil caused by carclres In
vesting and unwise capitalization tends to cor
rect itself by natural laws. Investors, naturally
timid, confused by the few- Inflated Industrials
which were put out simultaneously with Hit
sound ones, are afraid to buy, and the organiz
ers, usable to sett their flecurlllo, now realize
that sound capita! Iratlon is the best policy.
In organizing lndutrlal companies preferred
stock, which is Intended for an Investment se.
cuiity, should not he issued In excess of tangi
ble assets, except in special cases, where there
is a very large earning capacity protected by
valuable patents or trade-marks. Verified earn
ings and regular dividends will establish confi
dence, and the prhes of the shares In the well
organized and wall-managed Industrials will ad
vance as did the stocks of railroad companies
which were originally issued for good-will.
While I believe In great organizations; while
I know that they are a necessity in order that
this country should become a great power in
the economic world and thereby continue the
prosperity of the wage-earners of the land, I do
not believe In large aggregations of wealth in
the hands of Individuals unfitted to wisely ad
minister such great trusts. One of the un
favorable features ot our inditHtrl.it situation is
that the men of Rreat constructive ability, am
passing away, anil instead of there being a lack
of opportunity, It will be difficult to find men
to assume the arduous responsibilities ef indus
trial leadership who have the knowledge, the
Judgment, the ability and the Integrity of Car
negie and Huntington, of Itockfcller and Field,
of Armour and Vandcrbllt the thinkers, the
doers, the organizers men whose creations are
the great land-marks in our industrial history.
It is fortunate that wc have had auch lead
ers. They did their work with the aggressive
force that comes of natural energy and temper
ate living, and with the judgment that comes
ot experience. They have understood and have
been in sympathy with the people because they
have been of the people, and the example of
those men, rising from the ranks, gives impulse,
encouragement and high aspirations to every
workingman in the land. They made their for.
tunes by reducing the percentage ot profits and
increasing the volume of business; by reducing
the rate of freight on a barrel of flour to the
Atlantic from $3.00 to G.'. cents; by reducing tho
price of steel from $100 per ton to $20; by im
proving the quality and reducing the price of
provisions and by-products, while paying a
higher price to tho fanner for the animal; by
reducing the price of oil from 30 cents to 10
cents; by reducing the price of cotton cloth
from 20 cents to 3 cents. They realized that In
order to make their combinations a grand suc
cess, they must increase production by reducing
prices to the consumer. Thus they are not only
helped to develop n great home trade, but ena
bled us to open the door of foieign markets,
which has resulted In an enormous baloncc of
trade in our favor, on which our prosperity so
largely depends.
Industrials Owned by Many.
The industrials today arc owned by the many.
While economic evolution is centralizing pro
duction in large corporations, decentralization
of ownership goes on simultaneously through
tho rapid distribution of shares. There are
many hundred times more partners in manu
facture, milling and railways than there were
thirty years ago, and the number is rapidly in
creasing. Under the old conditions of private
firms, the number of female investors averaged
but 2 per c;nt. Now- in every corporation they
have many shares, and as share holders they
have the full right of suffrage.
Under the old conditions, of private owner
ship, the control of many of our industrial en
terrriscs would have been inherited by one in
dividual or family. Now tho control is subject
to the same rule that prevails in the adminis
tration of our state, and that Is the rule of the
majority. It is seldom (and fortunately so,
as preventing gre-it uggregatlcns of wealth in
the binds of Individuals or families) that the
heirs of giants In industry liavo the capacity
to succeed to tl.e direction of gigantic cntci
prlses. Many inheritors of great fortunes, en
ervated by case and luxury, prefer a life of in
dolence, or to chase the wlll-o'-thc-wlsps of so
clcty; others prefer to devote their time to
literature or art; others to enter upon scientific
pursuits. Under tho old conditions they would
have Inherited the control cf industries, but un
der tho present conditions ot industrial consoll
datlons, the majority of the Btockholdcis-for
generally speaking, the numerical majority is
also the majority in Interest elect us olBccrs
aspiring young men who, through years of ap
plication to a particular Industry, have proved
their ability and Judgment to assume the re
sponslbllitles ot leadership. Thus tho fittest
sun ive.
In lifo nothing Is stationary; contraction or
expansion goes on continuously, and if ycu don't
expand you contract. It Is so with nations;
it is so with Industry. There are periods of e.
panslon when tho mills are running full, and
there are periods ol contraction when the num
ber of unemployed Is hirge. Confidence is at
the foundation of expanding business activity,
The amount of business transacted on credit is
over two thousand times that transacted in ex.
change for gold or sliver. It there is confi
dence, tho manufacturer employs many hands,
the laborers purchase more, tho retailer sends
more orders, the Jobber orders more from the
manufacturer, the manufacturer to still further
Ills output, employs more hands, and every
man who wants work can find It. This is proj.
pcrlty.
Lack of Confidence,
lack of confldenco causes contraction the
manufacturer is afraid to make many goods;
discharges some of lus laborers; they purchase
less; the Jobber cancels his orders; tho maiiii.
facturer must still further reduce his payroll.
The result Is "hard times."
During the past few months ot political agi
tation, sufficient uncertainty has existed to re
duce business activity, in spito of tho country
being in a most favorable condition for trade.
Nothing better proves bow sensitive confidence
is than this holding up of business because of
the remote possibility of legislation which may
conflict with natural laws. In 1800, the fact
that a national party advocated the undermining
of our financial, legal and Industrial systems,
created sufficient uneasiness to causo our bank
clearings to decline H per cent, in comparison
with the corresponding montlis of the previous
j ear, It caused our interest rates to advance
to So per cent, per annum, and threw out of
work a whole army of men and women. You
are all familiar with the change which took
place in 1607 when conditions became assured
how renewed confidence set the wheels of pros
perity In motion, a result which every one fa
miliar with industrial conditions then predicted,
just as' we now "know what will take place as
soon as confidence Is again restored.
If the mete possibility of unwise and im
mature financial and industrial legislation caused
such a psnic as tint ot 1890, what a terrible
cataclysm would be occasioned if, instead of
the possibility we were confronted with the
actuality. The difference would bo that between
the storm and the cyclone. Ou the other hand,
HOW SHALL I VOTE THIS FALL?
Am I a Republican, Democrat or PopullstP
Let me reason with myself nnd you.
Suppose, for n moment, I am a farmer, nnd I own or rent land. Five
years ago X farmed 160 acres out west. Times were bad, crops were
poor, my wheat brought only 40 cents a bushel at tho farm, and my
corn only 18 cents. It was cheaper to burn corn in the store than to
buy wood or coal. I saved enough wheat for seed, and sold the rest, but
didn't get enough to pay the storekeeper what I owed him, and could
get no more credit. X owed a big payment on my farm machinery.
Thank Heaven, the agent of the Harvester Company extended the time on
my note for another year. That saved my home and the lives of myself
and family.
That was under Cleveland's Democratic administration.
Four years ago McKlnley was nominated for president. It was a
happy omen for the tillers of the soil all over tho country.
In 1896 my cropo were good. My wheat and corn, cattle and hogs,
brought good prices.
I paid off the storekeeper, settled with the Harvester Company, took
up the mortgage on the homestead and commenced to live.
Another year and three more yea rs have gone by, and X am still pros
perous. So prosperous, in fact, that I have almost forgotten the hard
times before William McKlnley came to be president of the greatest re
public in the world. But I have not forgotten that X have a piano in the
house, that two boys have been fitted for college, that my wife and
daughters are well dressed, and that the old man himself is taking life
mighty easy.
Prosperity has Increased the size of my waistband, and I guess I am
Just good enough Republican to vote once more for Major McKlnley.
What say youf
remove all questions as to the sanity and con
servatism in our laws, as to tho stability of our
currency, as to the continuity of our Industrial
development in accordance with natural lawa,
and we will have a condition of prosperity such
as no country in the world has ever known.
When we entered upon a period of prosperity
In 1847 It was after convalescing from a period
of severe contraction. Now we are producing
gold at the rate ef one and a half millions a
week, and havo a balance of trade in our favor
of over ten millions a week. Our exports of
manufactured goods have been 40 per cent,
more during the past two years than during the
previous two years, and the balance of trade in
manufacture has amounted to more in the
past four years than during the previous exist
ence of the Republic.
Mistrust in 1896.
Owing to the mistrust in 1810, we were
obliged to appeal to Europe for financial help.
Wc wore obliged to borrow money at high rates
of Interest. During the past four jcars, owing
to our undisturbed industrial development, wc
have exported the products from fann and fac
tory to such an extent that the balance of trade
in our favor has amounted to two billions of
dollars, which nmk"s us a gieat factor In for
eign commerce and n world power In finance,
England, Russia, Oermany and Sweden have
come to us for money, and the credit of the
United States government Is higher today than
that of any other nation. When all doubt is
forever removed as to the perpetuity of our gold
standard, and no doubt possible as to th manner
of selecting a Supreme court, tn which we must
look for the enforcement of our national obliga
tions as written in terms of gold, the American
Eagle will Inevitably become the unit of Inter
national exchange in place of the English sov
ereign. In view ot the fact that the maintenance of
high wages in the United States Is largely de
pendent upon our increasing exports, the ques
tion is asked whether we could sustain them in
competition with the cheap labor of China, were
China to become a manufacturing country. The
best answer is that last year, among our ether
exports, we shipped .two hundred million yards
of cotton cloth to the Chinese. The average
rate of wages paid by us in Its manufacture was
seven times the average rate of wages prevailng
in China.
The Chinese, like the people in our own
country who have a Chinese cast of mind, do
not recognize the advantages of combination.
Industrially they are living In the land of yes
terday. Instead ot In America, the land of today
and tomorrow. Notwithstanding her great
agricultural and mineral wealth, notwithstanding
the fact that she has the largest body of cheap
lalmr In the world, China is not an efficient com
peting factor in the field of production because.
In spite of all these facilities, she baa none of
the antecedents, intellectual, political, financial
or mechanical for large scale production under
modern conditions, since she possesses none of
the instruments of commercial greatness and
social well-being. Twenty centuries of station
ary policy and of looking backwards have made
political progress and economic development Im
possible for China. She lias remained in in
dustrial infancy. Lacking organization and all
that goes with organization, production on a
large scale aided by large aggregations of capital
and under conditions which attract and enoble
the greatest abilities, her agricultural and min
eral wealth and her ebean labor cannot save
her. She is left utterly behind in tlis economic
race and her vast territories are now threatened
with partition among the European powers.
Purpose of Contractionlsts.
Our ccntractlonists would practically have us
put a wall around the United States which would
reduco wages arid prevent the working out of
our destiny as a world power in comiierce, in
finance and in tho greater and nobler field of
doing our part in the advancement and civiliza
tion of mankind.
Situated as wc are, between the great oceans,
combining the strength of a great land power
with that of a great sea power, wo nre pushing
our way across the Pacific as we have already
done across the Atlantic. But this increase is
small compaied with the increase that is des
tined to take place whan no question is being
raised as to the stability of the foundations on
which rests this great Industilal prosperity.
With our untold natural resources, with our
inexhaustible supply of metals and coal, Willi
our great forests, with every variety of soil and
climate, with the most industrious, most intel
ligent and most contented ot peoples working
under the best conditions of modern methods,
wc are destined to become the economic masters
of the world.
m
CAMPAIGN OP 1806.
The campaign ot 'OS will long be remeinWi nl
at one In which men broke -e vnils of rany
tfrs and lifelonjr iradlt. nn to jiu; v.i-li the He
il liean party in crushing socialism ir,l ililf-t-liirf.'
financial heresy aid ilniiiir. Iliyin wai
ilitutcl by the larg.-at plummy nl vjum ast
In anv previous cleo.un cxee.it lu.it Jgiliut
Cieelcy Ir 1S72.
f
REPUBLICAN
OBJECT LESSONS, -f
-f
Maine. "r
Depositors.
Hanks. IS04. 1699.
National 18,Ml 23,0Sa -f
f Mate and Private 17S 225
Loan and Trust.. 0,330 fi.eW -f
f Savings ..1 110,803 VW,f2l
Total 141,670 15l.Mli
- Increase In No. of depositors,, liUt
Amount of Dcpoelli. 4-
f Uanks. 18'J). 1803. -f
National 11,770,612 115,070,320
State and Private 61,817 'IS.Wt
-f Iau and Trust,, 1,410,574 721.634 -f
-f Savings a3,ej0,e3l 4,7iW,tiSS
f Total t 52,140,001 01,5.,232 -f
sV Increase In depoilts ,,,,,,.,,$ 12,8S7,1M
-
Delaware,
4 Depositors.
-f Hanks. 1401. low.
4- National Wii 12,514 -f
-f Loan and Trust,, 3,0m .'.,012 -f
Saving S.70O l,-'
Total 10.2.10 WM
sV Increase In No. of depositor., UW
f Amount of Deposit. -s
f Hanks. IV 1. lk3.
-f National 3,208, US 4,(K',0O4
-f Loan and Tnut.. 1,5-13,011 3,ni7,'4''
Savings 760,000 WI.IOS
f Total , 0,550,100 9 0,167,111 -f
-f Increase In depotlU 3,530,4i -f
f
f -f -f V 4-
McKINLEYISMS.
"Wo have une flag and ono destiny, and wher
ever that destiny shall lend us wc will have
hearts strong enough to meet Its responsibili
ties." "In every emergency to which this country has
ever been subjected, the people have risen to
the highest rnasurc of duty and ot opportunity."
"Every movement for the edification nnd uplift
ing of the people Is a factor In human destiny
and a mighty force in our civilisation."
"The aspliallon for knowledge is the coiner
stone for learning and liberty."
"There are rf-ponslbllllies, born of duty, that
can never he repudiated."
"The free man cannot be long an Ignorant
man."
ALWAYS BUSY.
Ladles know, all admit they know, how much
they save when Ihey can buy Edwin O. Burt's
Shoes at 1.50 per pair, in turns and welts,
Satent Icathi-r and kid tips, button and lace,
tyles they all admire.
Lewisc&Reilly
Established 1SSS.
Shoes for all the walks of life.
ilercereann
& Coeeell
r
Temporarily at
139 PENN AVE.
CONTINUED
Fare Sale
Jewelry, Sllvcrwear, Etc
Our lull force of workmen at work
again, aa ueunl.
Watch Repairing and all kinds of
Jewelry Repairing and Engraving done
promptly.
Traveling salesmen must take their meals whenevet
and wherever they can get them, They bolt their food
one minute and hustle to catch a train the next, Hasty
meals and continual jolting in railroad trains bring on in
digestion and dyspepsia, A druggist at Bridgeport,
Conn., says he has long had quite a trade for Ripans
Tabules among traveling men and it is becoming a prac
tice with them to carry a supply in the grip, One of
these men takes two a day and declares they have helped
him a good deal, After an evening session with jack
pots, tobacco and whiskey, nothing clears the head in the
morning so early or so thoroughly as a Ripans Tabule
taken just before going to bed, no matter how late the
retiring hour may happen to be.
A mi jl packot conUlulni tu airjiya itsuua
INLEY
U underwear
1 Men,
Women and Children
Our lines are com
plete in all the stand
ard and celebrated
makes usually car
ried by us, and which
have stood the test
of years, as to fit,
quality and general
excellence.
Recent advances
in this class of goods
put the prices up
but our purchases
were made in antici
pation of this so that
our prices will com
pare favorably with
prices when goods
were at their lowest.
Early buying will
mean a saving of 25
per cent, and it will
pay you to anticipate
your wants in any
thing you are likely
to need in the line of
Underwear.
510-512
LACKAWANNA AVMUE
Swear
If you haven't the proper offlca sup
plIeB. Come in and give us a trial. ,
We have the largest and most com
plete line of office supplies In North
eastern Pennsylvania.
If It's a good thing, we have It. Wa
make a specialty of visiting cards and
monogram stationery.
Reynolds Bros
Stationers and Engravers,
Hotel Jeimyn Building.
Io parcr carton (wlthosi
I 1 . 1 III I SMI
, rsr
"Don't
99
JijMMit4i$$gL1iA.
...
hJAJ.