The independent. [volume] (Lincoln, Neb.) 1902-1907, 1902-12-11

property, description and cash mar
ket value of the property at the time
it was received IL payment shall be
stated. The Indebtedness, its nature,
and for what purpose incurred are to
be given, also statement of the as
sets at their present cash market val
ue, giving the elements upon which
the market value is based.
1t also is required that the total
earnings and i"c0m', operating ex-
penses, interest, taEcs, permanent i'm
prOvements, net earnings, dividends
declared, with rate ard date during the
year preceding the first of the preced-
ing July, salaries Of officials and wages
of employees be disclosed.
1t is provided further that the treas
urer or other officer of concerns af-
fected by the bill having the requisite
knowledge shall answer ON oath all
inquiries that may be made in writing
under the direction of the interstate
commerce commission, relative to its
financial condition OR to its capital
stock. Such answer is not to be used
as evidence against the person MAX
ing it, except in prosecutions under the
proposed act.
A tax of 1 per cent per annum is i'm
posed on so much .; the capital stock
outstanding which is not fully paid
in cash, or other property, at it's full
cash market value, and provision IS
made for collecting the tax
Any concern contemplated in this
bill failing to make the return as re-
quired under this Liil, end any concern
failing to pay tay imposed, is to be
restrained on the suit of the United
States, from engaging in interstate or
foreign commerce. 1t is made the
duty of the attorney general, at the
request of the interstate commerce
commission, to enforce the provisions
of the proposed act. and suit may be
brought in any district court of the
United States, at the election of the
attorney general, where an offending
concern has a Dlaae OF business.
Provision is made that the interstate
commerce commission shall prepare
and publish a statement showing
list of corporations fnd disclosing their
condition. The rlll does not apply 10
any concern the amount of capital
stock of which does not exceed $780,
900.
Secretary Shaw, in his annual re-
port just out, recommends an asset
currency issued by the banks (based
alone upon bank socurities) and the re-
demptiOn Of silver dollars in gold.
These two are features of the Fowler
bill now pending in congress. A third
feature-branch banks-Mr. Shaw
says he is not AS yet prepared to rec
ommend. The recommendation is only
delayed out of fear of the wrath of the
small country banker, but the people
may be assured hat the whole Fowler
bill will be engrafted into law, even
though it come a seeming trifie at a
time
And the people have no right to COM
plain If they get What they voted for!
About $3.50 is the present per capi-
| ia circulation of money in the coun-
try-about one-third more than when
Mckinley took the oath of office. In
1896 the bimetallists said the need of
the country-the sure harbinger of
prosperity-was moe money. Who
was right? And Tue vindication came
within five years!
The house on Wednesday passed a
bill appropriating $4,000 to pay the
expenses of the anthracite coal COM
mission, unanimously. The expenses
of commissions" come high, and a.
| new commission is appointed for some
purpose or another about every change
of the moon.
The omnibus sta ehood bill, to ad-
NIT Oklahoma, New Mexico and Ari-
zona to the union and place three
new stars on the flag. is receiving SEN
atorial consideration The republican
maj ajority is naturally opposed thereto,
and proposes a Substitute to admit
Oklahoma and Indian territory as one
state, and cut out the other two for
fear they might choose a democratic
representation in congress.
The republican leaoers In Nebraska
in the last election declared a town
an individual, a community, must be
republican to secure justice from con-
gress, and even then not unless the
congressman from that district was a
republican. That's the situation in
which New Mexico and Arizona find
| themselves this dav.
II. W. RISLEY.