The independent., 1902-11-20
break away, but will stand without
hitching.
&%>SS&S&
HOWL FOR "MoRE MONEY"

pendent has been calling the attention
of it's readers to the imitation of credit
and the dangers involved in it for all
the people. Many bankers in the west
have taken the advice of this paper
and have kept their reserves as far as
possible out of Wall street One
banker who saw a part of financial
article quoted in another paper sent
to the editor of The Independent for
copy of that edition, and when he
was informed that there was not one
left, sent 81 to pay a typewriter for
copying it in full. After receiving it
he wrote to the editor saying if he
had had that article in 1898 he would
now be better off by at least $4,000.
When the republican press, great daily
and little weekly, have been adver-
tising the fact of the great increase in
deposits, claiming that the people had
$4,000, 100000 of money in the banks
lecause deposits amounted to that
much, The Independent continued to
tell the truth about the matter so its
readers have safeguarded against this
enormous imitation. Very few pop
ulists in Nebraska who are readers of
The Independent are now in debt and
many of them have mortgages on the
property of the mullet heads, which
they will proceed to foreclose when
the panic comes just to give them a
needful lesson
At last the bankers themselves are
beginning to repeat what The Inde-
pendent has been saying for the last
three years. President Herrick of the
American Bankers association, in his
speech last week at New Orleans,
very tersely stated the situation, using
almost the exact words of The Inde-
pendent. He said:
"While we boast of an increase
of $4,000, 100000 in bank deposits
throughout the country in the
four years last past, we are not
unmindful of the fact that during
that period the banks have shown
no increase in the amount of real,
tangible money, such as gold, sill
yer and legal tender. The loans
have kept pace with this abnormal
growth in deposits. During this
period also we have become in
debted in the" way of temporary
loans abroad amounting, probably,
to $500, 900, 900. Does this not show
an undue expansion of bank cred
it's and an overlooking of the
money market with debit"
1t is now evident that all the ener-
gies of the trust and Wall street bank
ing interests will be brought to bear
upon congress the coming winter to
further increase the currency. AS all
the gold and silver mined is now
coined, no increase can be had there
and it must come in some form of pa
per money. Notes issued against as
sets will probably be the form adopted
Then when the crash comes, deposi-
tors will have nothing. Morgan, Gates
and the whole trust push will be down
at Washington this winter demanding
more money"
S$S:SSSSS
There is hydraulic engineer out in
Colorado who should be granted the !
grand prix for originality. Instead of |
building reservoirs, he proposes to
glaciers. He says that by
ilo0dirg the canons in the mountains
cne or two feet at time and letting it |
freeze, that very slight and inexpen-
sive works will hold it and thus a
glacier can be built up many feet in
thickness which, when the hot weather
comes, will melt by slow degrees and
furnish water for irrigation and placer
mining.
&$$S>&S$
In no other country on earth could |