The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-02-25

another sort or lien has been secured. Our
Legislature has recently provided that when any
corporation, or partnership, or person, becomes
insolvent, and the property passes into the hands
of receiver, every iaborer or employe of such
corporation or partnership, or person, shall
have first lien on the assets to the amount of
fifty dollars. for his work And so powerful is
public opinion, which makes more law mean
good law-than the Legislature, that, pressing
upon the courts. they now hold that where rail
road goes into the hands of receiver. those who
work on the road, on its entertainments, bridges
etc, and those who help to run the road, have a
lien the fund in the hands of the receiver that
shall be preferred even over mortgages on the
road because their work has all the time been
keeping up and Strengthening the value OF the
mortgage security.
And now, Knights, will you allow me to suggest
reform, which may be brought about by or
ganized public opinion, which. | think, in In
diana, at least would be hardly less valuable TO
you than an eight-horr law9 1t has been sug
gested to me by the bank calamities that have
lately taken place in this city. You know that
every national bank is required by law to leave
with the Comptroller of the Currency at Wash
ington United States bonds exceeding the
amount of the circulating notes issued by the
bank, as a security for the redemption of the
notes. In consequence Of this requirement the
bank bills of a broken national bank are worth
just as much as those OF a solvent one. When
ever, too, national bank Is made a
depository of moneys of the United
Statos-moneys deposited by collectors of in
ternal revenue and other United States officers
the bank is required to deposit with the Secre-
tary OF the Treasury United States bonds Of
sufficient value to cover any amount which may
be deposited with these officers. One of the
most highly respected bankers in this city, in
an interview published q week or two ago, said
that our State, county and township officers who
have public moneys in their hands should be re-
quired to deposit that money with banks. the
banks to be required to leave with proper pub
| lie custodian United States bonds in an amount
sufficient to cover the sums deposited. Now, IT
the banks can conveniently do this, why should
they not be required to place in the proper Gus
tody United States bonds sufficient in amount
| to cover the deposits Of the poorer class
| of depositors-say all deposits of 81, O0O or OF
$500 and underl These smaller deposits might
be presumed. as general rule, to represent the
| means of living Of the depositor, or sum in
some way Immediately needful for his comfort.
Fellow-citizens, one of the strongest desires
| implanted in the bosom Of every father is to
transmit to his posteri.y the means of comfort.
In some of the old communities of Europe en-
tailed estatesestates not liable for the debts Of
the owner, and inalienable by him-have been
resorted to for that purpose. In this country
wills, strive to devselsheir property to children
and grandchildren and remote posterity success
sively, so as to keep 1t in perpetuity in their
families But our laws will not uphold such es
tates. They will not allow estates to be exempt
from the claims of creditors nor conveyed in
perpetuity as to be inalienable by owners.
rich man cannot anchor bis posterity in some
snug and safe harbor. secure from wind and
storm. The 1uke Of his anchor will break, or
the bottom will prove treacherous and they will
swing out into the stream to encoun-
ter all the perils of the cur
rent How rapidly fortunes vanish. man
may transmit to his children property but sell
dom experience, and unless experience sits at the
helm fortunes soon suffer shipwreck No matter
what may be our fortunes, those who inherit our
blood will inevitably before very long drop into
the ranks of those who live by physical toll. The
best way to provide for our posterity is to assist
in preparing the conditions which will enable
| them, when they enter the ranks of the toilers.
easily to find work to do, to receive fair wages
for their work. and to have reasonable spare
hours to enjoy the society of their families and
the society of their friends, and for the acquisi
| ton of knowledge.
| Following this came stirring song and chorus
| "a Thousand Years, My Own Columbia" by the
Indianapolis Glee Club. In the last line q para
phrase ''To work eight hours, for that's enough"
was introduced, which led to tremendous en-
core Responding to this the club gave negro
revival chorus, which led to no less enthusiast
tic appreciation.
sTATIsTIcrAN SMITHS ADDRESS
After the music William P. Smith, district
statistician of the Knights of Labor, was pre-
sented to the audience. Speaking of the circum-
stances that brought together the great audience
he said there must be some prompting motive.
The very fact that there are organized throughout
the country societies in the interest of labor is
evidence that there is something wrong. From
this he dealt generally with the eight hour
question. and then took up specific instances Of
| proof of the business of the demand. Three
| hundred thousand patents which were for the
benefit of man were protected by the
| government. but by this two million
workingmen were turned out to starve
| Gorgeous churches, with gilded spires,
cast their shadows on homes of misery
and crime; poverty and opuence presented their
great contrasts. and sorrow and pleasure walked
side by side. Such was the condition of socie
ty and the remedy lay i'll lessening the hours of
labor of those who have work, in order that the
idle may be employed If machinery gives to
eight men the work Of ten is that reason why
the other two should be kept in idlenessg
No. let US give the two chance.
Let the employed make room for the
willing hands of the unemployed. But it is said
wages will be reduced proportionately. If the
man who labors gives 20 cents to support the un
employed, had he not bet er rest and let the lat
ter earn the 20 cents for himself. Why do not
the unemployed seek other occupationsa Farm
ers now bind their wheat by machinery and
there is no room there. Besides, mechanics are
not farmers. But if the mechanic or laborer
goes through the country in search of
work, he is called q tramp and turned
over to the tender mercies of the Mayor. The
only help is to beseech workingmen and owners
Of factories to make room for the unemployed
by shortening hours, or in few years this
glorious Republic will 90 to ruin Go Westl
All, the homestead law is the greatest joke of
all Nearly every acre of available land is given
to the railroad companies. who pass it over to
Italian counts. Russian noblemen English dukes
and British syndicates.
Shortening hours of labor will employ all with
work and do away with township trustees |
sherffs and police. What will become of themf
He did not care. Perhaps the trustees would go |
to Canada. Branching from this view of the |
question, Mr.. Smith presented an array of Stats
tics to prove the unjust balance existing be- |
tween the actual producers and the non |
producers. The latter were professional men |
Judges whose business it is to foreclose mort