Omaha Daily Bee Newspaper, May 17, 1891, Page 13

THE REAL NATURE OF NONEY How it Sncoeeded the Interchange of Products of Labor. RELATIVE VALUE OF GOLD AND SILVER. Amount of Money the Business of and How Regu Required by the World it s ated. Belford's Magazine for May. We are ail deeply interested in getting » practical comprehension of what money is in its essentiai nature. Let us study itin the past, for the past can in all things teach us. Since man began to produce anything by his skiil or industry, he has been in the habit of exchanging those products of his labor which he did not need for his use for some vortions, more or less great, of such things as other men by their skill and industry woro able to produce beyoud their own needs, but differing in kind from his own. These pro ducts were originally exchanged for each othor, But it came about in the evolution of 1deas, manners and customs of all peoplo suf- ficiently advanceato be cailed civilized or semi-civilized, that some one product of hu- man skill or industry possessed a quickerand more universal exchangeability than any other. For it in certain quantitics all men bacamo willing to exchange whatever they had to exchange, whether the products of their labor or their labor service. At different perioas and among different es, this oue peculiar thing was not con- y and everywhere the same. At one time or place it had been a beaver skin; at another time or nlaco, shells or beads, at an- other, cattle or slaves; at another, iron, cop- per or brass; at anothier,silver or gold. Now, by reason of this peculiar exchangeability, the price or exchangeable power of all other eommodities came to be expressed by the quantity of this one peculiar commodity for which they could be exchanged. It was nat- wral that a name should bo attached to this peculiar thing, and that name was money, The books will give all the reasons which led to the natural sclection of theso various things designated as money. I shall content myself with one or two. First, and funda- mentally, they were such things in their re- spective times and places as woula univer- sally minister to the comfort or pleasure of those who possessed them. Sceond, they were in their respective times and places rel- atively the most convenicnt, not only for tho purposes of universal exchange, but for pres- ervation ngainst furthe 1t has been by the freo play of human choico, ending in 8 concensus of action, t money has thus been ovolved, never by couventional ag ments made in advance, needs. In modern times, among civilzed na- tions, gold and silver have super- seded all other commodities as money, but they do not differ in their essential char- acteristics of desireableness in themselves (either for utility or ornament) from thoso other commodities which in ruder times, among more primitive people were equally enuitled to the appellation money It does not need a moment's thought to sat- {sfy us that it was by a true survival of the fittest that gola and’ silver finally obtained universal recognition as money, and super- seded all other forms of it. Bear skins wero universally desired, both for comfort and ornament; but too long kept they are liable to moth and mildew, and their value was thus diminished or destroyed. Cattie were liable to disease or death, and were expensive to care for. Finally, copper, ironand brass were too easily produced and united in themselves the disadvantage of bulk, as well as weight, with small value, Silver and gold are not ecasily destroyed They are almost infinitely divisible; their purity or fineness is readily determined. As society has developed, their desirability for use and ornament has not diminished. Since they are practically indestructible, easily hidden and guarded, they of all things are tho most convenient for their possessor to keep for such future needs of exchange for other things as he nay then desire, ‘With this general statement thus made, T will ask and answer a few questions, which will lead by tho shortest route to the end of my subje Question, Would not some other thing than silver or gold have been just as useful, ust as exchangeable, and just as much enti lod to the name of money, if these had not been selected Answar, Yes, perhaps so. But it is sufi- cient that socioty has adopted these two, and in such a matter the individual may well go with the crowd. Q. Ought there not to bo more monoy in circulation? Is there now enough for the waunts of trade? A. The question caunot be answered by either an absolute ves orno. In the begin- oing, if in such & matter there could be a defimito point of beginuing, the quantity would have been of no equence, or, in the words of Bonam; o, “any would have been enough, because the price of things would have become related to the volume of money, whether that volume were small; and once establishea in th lation to each other through theie e relation to money, it would no difference whether the prico was what we would now call high or w. But the only ideal money would in- creaso in a ratio commensurate to the in- crense of things to be exchanged, minus the quickness of exchange which time wight bring.” It is not probable that either gold or silver or both in use _togetner as the bimetallists desire, would form the ideal money. In this sublunary sphere the ideal is seldom reached. Inmnot aware of auny well-ascertained data by which tho question, Is theve money enough! can be definitely answered, There has been an increase in the volume within the lust fifteen years much greater ratio of increase in the volume of things to be ex- changed. There aro those who aftirm that there is not half enough; that the price of things has become related to the existing stock, and that with the economies that have been secured aud will no doubt be further gained in the use of money, there need be no present foar of a proper supply. A reason- able amount of good money is better than a larger supply of an inferior kid, since “®ither has to be bought and pard for by hon- t labor, Q. Would silver and gold be now rightly entitlod to the name of money if thoy were not coined at the mint, ana the value of the coin determined by law A. Yes. They would exchange as freely as now, and would then, as now, be entitled in every sense but a technical legal one to the name of money. The coinage does not give the metal any vatue that the metal did not before possess, “U'ho law determines the fine- ness and quantity of recognized value which @ given coin shall contain; gives a name to the various coins respectively, and thorefore treats of them as money, not recoenizing in its phraseology gold and silver in the form of bullion as money. ~But as bullion is as read- ily exchanged, ‘and (in international trade) more 1o be desired than con, and as the value of the coin dorives its power’ from the auau- tity and fiueness of the metal it contains, and not from the stamp of the government machine, 1 repeat that, essentially, gold and sitver bullion are as much entitled to the name of woney before being coined into dol- lars, or sovercigns, or francs, as afterward. 1 know that hiere is a vital point of dispute that because the law in speaking of woney treats only of what it had stamped as such, ‘;luhnopm-n are ablo to coufuse us very much y attributing to the stamp the money value which really lies under it. The law recognizes, gives sanction, or for- bids, but it is powerless to create. Q. Does not the legal tender sauc. tion which the law places upon the issues of its miut give u new wud original value to such legal-tendor coin! A. No. The laws of legal-tender give w standing interpretation to the language of a g-contract, where such words as dollars, pounds, fraucs, are used, and thus notities hoth parties to @ contract in advance of what the law will require if they fall iuto dispute. Q. Must it then be denled that, under no condition, nor within any limits, the legal- tender quality conferred uoon @ thing gives fair re- nmon make | that thing & value which it would otherwise havel A. No. I admit for argument's sake at Ieast, that if the govarnment should decree that doughnuts should be legal-tender for debts, adoughnut for adollar, then (if dough- nuts did not hecome too plentiful) they would be largely enhanced {n value while they wero in demand to nmf{ existing coutracts or pay existing debts, but 1 do say that, as under such conditions all existing contracts would soon be cancelied, and no vew ones created, except upon the basis of the naturai exchangeable value of doughnuts, they would 800n cease to be in domand, and possessing in thomselves only the value of doughnuts, they would sink back to their natural dough nut value. But the operation sketched ought not to be recognized as a creation of value, even of a temporary kind. It 18 really a robbing under the guise of law. Governments can confiscate and destroy, they canuot create value, Q.—How, then, Is1t that 412! grains of silver, coined into a silver doilar, will ex- change in the market for 25 ¥-10'grains of gold, while as bullion the same quantity of silver will only exchange for about two- thirds of as much gold! A.—Thero is one simplo answer which completely explains the disparity. Great in- wenuity {3 displayed in making some other oxplanation, scientitic perhaps, but hard to comprehend. The one I submit is simple; anyone can comprehend it, viz: For some years past, and at the present time,the United States government has been, and is, in the recoipt of an income, through tarif? duties and oxcise dues, of about §1,500,- 000 per day. This large revenue it' dis- burses in bayment of the interest and towards the principal of its deut, for pen- sions, and for goneral administration ex- penses, Upon its debts, and to whomsoever desires, it pays gold coin on the busis of S-10 grains to the dolla From whom- soever desires to pay money into the treasury through the excise dues, it will receive as equal value gold coin, or silver dollars con- taining 41215 grains each. Thus it practically ~ ‘buys that amount of colned silver, giving fn considera- tion an exemption from the payment of 0 grains of colued gold. If it would e nickels or dimes in satisfaction such dues in a similar way, would become exchangeable for re of they about a dollar in gold each, it it were certain that the government could continue thus to receive them with one hand, while with the other it continued to pay, as now, in gold. “The operation 1s, in fact, a virtual exchange, to tho extent the community now desives, of gold coins and_ silver coins” on the basis of their (theoretical) legal value, instead of their commercial or natural relative valu Tho difference some one now does, or will hereafter, incvitably pay. Q. Cannot the government continue this forover, and thus forever preserve a hicher value to the silver coin than its equivalent in silver bullion f A. No. Becnuse with the continued coin- age of silver in_its present ratio to the coin- age of gold, about three to one, thatis to say, fifty-four millions of silver against say twenty millions of gold per annum, the pro- portion of silver payment to the government will steadily increase, until the treasury de partment will be obliged to either pay in sil- ver or buy gold in exchange for it. With free coinage of silver, this result will be the sooner reached. Whenever the government fs thus com- pelled to suspend its present course in the respect Just pointed out, the real commercial relution between the gold and silver coin will n to appear. Then silver coin and silver bullion (coinage being frec) of the same weight and finencss will be alike in value, isely as gold coin and gold bullion now Then you do not believe that the free coiunge of silver, as now proposed, would enhance tho value of silver bullion and re- store the old relations of 16 to I between gold and silver? A.—F'reo coinage of silver would no doubt give 1o 41si; grains of silvor bullion, 9-10 flue, as much value, i. 0., purchasing power, as would.bo contained in the coined dollar; and if the government or some other power rich enough, would forover give gold for sil- ver in the ratio of 1 to 16, thea the old rate of 16 to 1 could be maintained But we have already perceived (if it bo the truth) that our govertment caunot do this. It may be added that so long as the government is will- ing 1o accept silver as a fixed ratio, thus cre- ating an artificial value for 1t higher than its natural vulue, siiver will, as sure as water secks its lovel, flow from' all parts of this country and also from foreign countries into the Ubited States treasury, driving out the gold, and the government will have to pay the difference, Even if the government had the financial abiuty to bear the loss, it would be a foolish use to make of it, since all its power is derived from the people and 1s used at their cost. The fact is that the value of all things, that is, their exchangeable quality for other things, is determined, and ought to be deter- mined, by the freo play of human action. iforts mado by powerful bodies, govern- ments, corporations, svudicates or trusts, to interfore with the free action of men in those rogards are Injurious to all. The statement is us true when applied to gold and silver as it s of other things., Neither gold nor silver has value different 1n kind or differently de- rived from other things. They are good for use and orngment; they will exchange for other things: but tho relation in which they will exchange for other things nover cou- tinues for any long period the same. Nor is there anything in their nature ou account of which (under any rule that can be stated) they should, in law or morals, continue to be exchanged for things in a fixed ratio to each other, of 15 to 1 or 16 to 1, or any otner ratic In fact, except within nominal limits, they never ‘have thus been practically related In overy country where the effort has beén made to make a fixed ratio practically operative, that effort has finally failed. *“The ancient historians tell us of early times in Arabia and in Ger- many when silver was worth the same as gold, weignt for weight. The ratio fixed by Spain in 1497 was 105{ to 1. Then m 1540, be- ing dominant in the world of comme; finance, she fixed the ratio at 135 to 1. the next century (168%), one hundred ye alter the defeat of the Spanish Armada, Por tugal, then prosperous, weaithy and domi- nant, fixed the governing ratio at 16 to 1. Then in 1717 England fixed hers at 15.02t0 1; in 1726 at 14/5 to 13 Spain in 1775 at 7 to 1in the Peninsula, though 16 remained the ratio in her American colonies. In 1785 and 1503 France adopted the Spanish ratio of 15! to 1."—Prof. Stackpole. One of the two metals has always boon the real money of account, the real instrument of exchango in the great industrial movements; the other tus operated in an auxiliary and subordinate capacity. Perceiviug this to be the fact, Great Britain in 1516 zaye up the experiment, ma o gold the solo money of account, aud coined silver for subordinate use ouly. In our own country, from 1793 to 1873, our wints were opeu to the free coinage of silver and gold, part of the time in tho ratio of 15 to 1, and part of the time in the ratio of 16 to 15 but in the whole period of eighty years, only eight millious in silver dollars were coined. The mints of Mexico and Japan are both open to gold, but silver, being the only medium of exchauge, alone goes to the mint "The Latin Union, so called, made a league timting the coinagn of silver, hoping thus to preserve in practice a theoretic ratio; but thoy were obliged to break it and suspend the coinage of one of the metals. If wo wished to secure the froe exchange of these metals in a*fixed ratio it would be necessary to make an agreement with ail commercial nations of the world, No doubt the silver-prodncing countries would gladiy agree. Wo could well afford to. In 1850 this country produced silver to the value of 0,000, In 1880 the anoual product was about 0,000,000, gola value. But there is much reason’ to doubt whether non-silver producing countries would enter into such a compact. Great Britain certainly will not. Q.—Well, then, if it be impossible to main- tain the practical use of two kinds of money like silver and gold in a fixed ratio, which of the two s it the wiser to usel must depend on circum- stance: country is insulated from others, has no commercial relations outside 1ts own boundaries, and desires to establish nono, then it may be said that it 18 quite wn indifferent matter which ‘of the two shall be the rec- oguized money. Either will do. But if a country has trade and commerce beyond its own boundaries, and desires to encourage and extend such trade, then its intorests require the use of that money which is current in the e and In market where its foreign trade is settied. At the present time that market is Great Britain, If the United States of America is to take that position in the world's progress which we confldently hope for, it must bo by the extension of {ts trade and ecmmerca’ with other parts of the world, Whatover favors this, favors our nation’s development. What- over bioders this, restricts and hawpers our progress. Attte present time, and for an THE OMAHA DAILY BEE, SUNDA MAY 17, 1 91-TWENTY PAGES. WE WILL SELL THIS COMING WEEK 500 FANCY LREVIOT SUITS, SIZES 34 to 44, WELL CUT, WELL TRIMMED:> WELL MADE, AT $4.90 A SUIT. Nebraska Glothina Co., GCorner Douglas and Fourteenth. {ndefinite period in the future, all our foreixn | commerce, amounting now to $1,500,000,000 per anuum, is of necessity transacted undc the English standard of gold, for London is | the settling-house where all these foreign payments are made, If we ship flour to 3razil, we must take our pay in London. If we buy sugar from Cuba we must pay in London. If in our domestic affairs we de- generate to the silver basis, as we certainly shall if the present compulsory comage of silver goes on, or if those who seek to open our mines for the free aud unlimited coinage of silver shall have their way, we shall_thon have voluntarily surrendered tho standard that puts us on a parity with other commer- cial nations in the struggle for tho world’s trade, and shall nave adopted a standard, whether theoretically superior or not, which will put our foreign trade and commerco in a most disadvantageous posi tion. So far in theso remarks I have not made any reforence to paper money,so called. What I have now to say can soon’ be stated. There is a distinet and radical difference be- twean gold and silver money, or any commo- dity used as money, and paper monoy. There ought to be a clearer distinction in the names applied to_them. Gold and silver (not to speak o obsoleto forms of money) are real money. They carry their exchangeable value in themselves. Paper money derives all its power from its relation to real money. It has no value in itseif, and can serve no purpose either of use or ‘oruament. Paper monoy is a promise, warrant, which entitles the holder to real money when it is asked for by him. Thus rolated and kept effective, paper mouey is au_immense cconomy. By its use a considerable portion of an otherwise larger stock of real money can be exchanged for things which directly minister to human needs, I mignt speak_also of ck of exchange and promissory notes, which in modern times operato in the exchange of commodities. They might be called, one or two degrees removed, a kind of paper money. They perform in a limited way the same functions that paper money peiforms in o larger way; and like paper money, they cconomize the uso of real money. IScono- mize it as they may, however, they eannot wholly superséde 1t—certainly not in this or any immediately following generation. Cuicaco, 111, Lyyax J. € ks, drafts, bills LON WVILY OF oltke's After He Had Reached the Age of Sixty-six. Moltke did 1ot quite _reach the years of Wrangel, who dicd in 1877 at the age of over 93, nor 'did he quite oqual Emporor William, who lacked but thirteen days of completing his ninety-first year. Two years ago the St. James Gazette, noting that ‘“‘the majority of Prussian field mavshals have been old men,” found plenty of examples also of aged English soldiers of celebrity, present and past, ircluding Sir Patrick Grant, who was at that time about 85 vears old, with seventy years' service; Lord Napier then_ 70; Welliigton, who died 4t 83, aftor sixty-fivo yoars of service; Lord Gough who lived to %, with seventy-five years of servico; Sir John Burgoyne, who ‘ed the army at 16 and reachod the agoe Of the French veteraus it cited Me: Mahon, ut that time 51 years old; Cu av that time 80; Soult, who died at 82, after sixty-six years of service; Grouchy, who died at 31, and s0 on. To these oxam: ples may be added that of the longe of our moro distinguished revolutiona diers, Stark, who died at the age of nearly 4. Admiral Wallis of the British navy cele- brated recently his hundredth birthday. But of course the interest on this point in Moltke's carcer is, says the New York Sun, that the great work of his lifc was done after he had reached the age of 66; and, in- deed, until 6 ho wus little known outside of Prussia. His supreme achievements wore effected at the age of 70 and 71; but no one ever questioned that he was in his full vigor as a strategist at 80, or that Germany's chief reliance would have been on him, for plau- uing aud directing her campaigns, up to a very few yoars ago. Indeed, he gave evidence of his apility until bis resignation of his oftice of chief of the general staff in August, 1855, to do its roatine work, in_supervision and criticism, with his wonted vigor and pre- clsion. A Sl They Got it of Course. Jim! oh Jim! 1 say, Jim! Yeup—comin', mam; what's er matter! Why baby has got the colic; run down to drag ‘store and get & bottle of Haller's pain paralyzer; quick, Low, —_— A Tennysonian Twi ng. Free Press 1 know I'll hold it true next fall, When summer girls have left the coast, *'Tis better to have loved and lost Than uever to have loved at all."” TERRIBLE REAL LIFE STORY. Romancs of the Big Horn Basin Which Cost Two Lives. AWFUL ENDING OF A PISTOL DUEL. Fiendish Act of a Jealous Man—A Little Child Used Dby lts Father as a Shield in a Death Struggle. Boxaxza, Wyo., May 16.—[Special to Tie Bee.|—In a remote section of the Big Horn Basin in northern Wyoming, 175 miles from a railroad, there has just been enacted a trag- edy which possesses many clements stronger than any yet evolved in t he pages of fiction. In 1879 a young man, James McDermott, left bis home in Franklin county, New York, to seck his fortune in the wild and undeveloped west. made his way to some recently discovered gold and silver mines near Glendenning, Mont., and without any previous experience went to work as a miner. McDermott was an ex- eeptionally haudsome young fellow, with a clear cut, clerical face, lit up by a pair of bright blue eyos, which fairlv radiated with intelligenco and good nature, He was in- dustrious and as gial as the day was long, and soon became a favorite with all in the Glendenning camp. 5 A short time previous to his arrival there a farmer named Martin, accompanied by b two dau ghters, Mary and Helen, locatea in Glendenning, and become a delver after the precious metals along with the rest of the inhabitants of the little settlement. Martin and MeDermott both worked in the same mine, and a warm fecling of friendship sprang up between tho two. The latter was invited to share his friend’s hospitality in his cabin with his two daughters, and maoy a pleasant social hour was whiled away. Mary Martin, the eldest daughter, wus one of the most charming buds of womanhood ever brought into the wild, unsettled west, Her grac vivacity and beauty caused many a lonely bachelor's heart in the canp yearn to call her his own. Sne was a gracefl dancer, a cap- tivating companion and a geueral fayorite with all. Her meeting with McDermott was acase of love at first sight. Tho young couple became ardently attached to” each otherand were almost iuseparable companions when both were disengaged. He Aftera short courtabin they were affianced. The father, notwithstanding his per:onal liking tor ' McDermott, viewed the pros- pective allianco with foelings of great dis- trust. He strove to induce his daughter to look elsewhere for a husband, but she was obdurate and vowed her eternal love for her choiwe. McDermott wus much displeased at the opposition shown to Lis marriage with Mary, and in spito of it became more and more assiduous in his at- tentions and more determined to possess nis fiaucee, Mary Martin,despite her evident at- achment to Mclermott, possessed a strain of coquetry, and although it pi lover greatly, she toek, delight oc in _indulging in furtations which were purely innocent on,her part. The result was to cause McDermott many jealous ings, which for a time wransformea him into sour, worose moods, iw'which he evinced the tewper of a madman. Working in the same wine with him was a young lowan uamed Morine. Mary Martin and Mor- ine bad come from a point in the latter stato not far distant from each other, aud on this account were warm friends, She had obscrved ber lover's jealous disposition, and from spirit of fun used to occasionally take great pleasure in tantalizing him by her attentions to Morine, McDonald noted her actions with u growing feeling of jealousy until all the devil in his nature was aroused, Ho brooded over the matter until he reached the conclusion that murder was bis only hope of relief. One ovening about 7 years ago he invited the young lowan to join with him and his afianced in the pieasures of a social party in the neighborhood, st which dancing was to be & feature, He confided to his sweetheart his intentions on that ovening to settle satisfactorily the exact relations which the man and himself held in her affections. She was emphatic in her as- sortions of love for him and him alone, The oevening of the social party came and Morine, jolly and cotertaining as usual, was present. accompanied by his two sisters upon whom he studiously bestowed his attentions during tho continuance of the night's pleasures® McDermott watched him closely, with the demon of jealousy stili rankling his nature, Just as’ the quadrille Lad been formed for the parting dance Mary Martin quickly left her lover's side and ran over to where Morine was seated at one side of the cabin with his sisters. She en- gaged him in pleassnt chat, and much inno- cent merriment ensued among them, Sud- denly McDermott came to Mary's side, his blue eyes fairly glittering with the fury of his passion. Morine quickly aroso to greet bim, and a moment later lay gasping in the death agony in the arms of his sisters, five bullets from McDermott's revolver having pierced his body. ‘The cowardly manner in which the young lowan met his death caused great indignation, and McDermott was promptly arrested. After en examinaton he was found guilty of murder and after the lax methods of justice in such communities he was admitted to bail in a small sum. ‘Pak- g advantage of it he fled from the scene of hiscrime and Mary Martin proved her love and loyalty by accompanying him in his flight. After wandering here and there through various unsettled regions in Wyoming, Mec- Dermott finally took a homestead claim on the banks of the Nowood river, a short dis- tance from tne newly lad out town of Bonanza. McDermott was one of the most thrifty as well as industrious settlers in the basin, and fortune began to mile apon. His herds of cattlo on the range along the river for y miles increased yearly, and he ap- peared to be one of the happiest and most conteuted of men, despite the dark stain that rested upon his life. Two years ago a son was born to him who ‘was” an_exceptionally beautiful child. Little Phil, as he was cailed, was fairly idolized by both father und mother, Shortly aft McDermott had settled upon his ranch a young man named “Tom Madden, from some part of lowa, took up the homestead claim adjoining. The two men at once became the warmest friends, They visited each other frequently, ox- changed work on their ranches, becauso part- ners in stock raising, and were'so familiar in every way that the impression got abroad that'something more than mere friendship existed between ihem. Madden, indecd,openly claimed that such was the case, and many velieved him, Last winter Helen Martin joined ner sister on the ranch. She was a tall, graceful voung woman of cighteen years of age, and at onco became an object of iuterest to all of the oung bachelor settlers in the basin, of whom ro are many. She scemed indifferent to aavances made by all of them with the oxception of Tom Madden. He seemed to find favor in her eyes and the conclusion was formed that matrinony would surely result, Suddenly, without any apparent cause, Mad- den broke off all relations with her, and the two became encmies. People wondered at the rupture and predicted that it would But it end like all love's quarrels in a reunion, time rolled on and the two vemained at dag gers' points, their hatred of ¢ ing more and more. Gradu began to bo circulated that all was not as pleasaut in the McDermott family as ap- peared on the surface. It was auietly whis- pered that Helen Martin had usurped her sister’s place in her husband’s affections, and that she wus guilty of actions that were, t say the least, of a Very improper characte Matters coutinued this way for somo time and then the inhabitants of the basin were startied on March 31 by the report that James McDormatt and ~ Tom = Madden had engaged in & pistol duel in which he shot and killed little Phil and severely wounded his father. Groat excitement ensued. Madden came to nanza atonce to give himself up, and tho story he told created a strong feeling of sym- pathy for him. An inquest. was held in the town hall on the murdered boy, McDermott malned at his ranch, ug unable to ap- pear on account of his wound, which had pierced his lett cheek below the eye and then passed around his skull and lodged in the ack of his head, “1 was working in my yard and saw Mrs, McDermott running toward my ranch with a baby in her arms,” said Madden to the coro- ners’ jury. *l met her a short distance fr where | was working, She was great cited and acted as if danger was vight at her ch other grow Iy serious stories heels. She exclaimed: *Tom, for God's sake try and save me, the old man is going to ! murder me.’ 1 looked for the ‘old man,’ as she had a habitof calling Mac, but saw nothing of him. ‘For God's sake, she repeated, Goupand try to do some- thing with bim! A moment later I saw Me- Dermott coming with his little boy in his arms. As he drew uear I saw him fumbling under the child’s clothes with his right hand, and felt sure that be had a six-shooter. Bo- | | I T let him come close to the cabin and then stepped out and said : ‘*‘Mac, you have threatened our lives; come no further. He roplied: ‘“You d— son of a b—," and then went for his gun. T made a run for him, and he fired ashot. As he was about to shoot again I fired. The boy was on his left arm, and I think my first” shot hit him. I kept going toward Mac all the time; he fired a second shot and it was returned. This shot killed the little boy. The bullet toro his head to picces add also wounded the father. They both fell together.” Madden was acquitted. While McDermott lay at his ranch suffor- ing the tortures of pain caused by s wound he conceived a plan of revengo upon Madden which now seems likely to react upon him- self. Madden was at the Glendenning min- ing camp when the Morine murder was com- mitted, and when he became MeDermott's veighbor he was in constant fear that ho would betray him to the Montana authorities aud be the means of causing him to pay the penalty of his crime. He constantly feared that Madden might expose him to his fellow- settlers in the basin as an escaped murderer, and with these fears haunting him he had de- termined to kill him. Failing, he arose from his sick bed, and with great difMiculty ndited a letter to a well-to-10 stock grower named Tatman on the Grey Bull viver, in which he confessed that he "haa been forced to become tho un- willing accomplice of Madden in an extensive scheme of horsestealing which covered in its operations the entire Big Horn basin, Tho plan was to steal horses and cattle from tho range wherever found aud under cover of nignt and by the aid of confederates at dif cut points run them fnto Nobraska whe they were disposed of to zood advantage by the thieves. MeDermott informed Tatman that acting under Maddon’s divections —pre- sumably from fear of tho secret tho latter heid--ho had assisted him in running off fifty-two well bred horses from the (rey Bull ranch, which had been disposed of in Nebruska for several hundred dollars in wold. Tatman an_ orphan who rs ago and by great industry had succoeded in gathering about him large herds of stock. When McDermott’s lotter of confession reached him ho at onco started for Bonunza onatour of investigation. He was deeply incensed, and vowed that he would trail every one of the horse thioves iuto prison be- fore’he rested. At Bonanza he met Mrs. McDermatt, who now hates her husband as intensely 'as ~ sne once loved him, and iuformed him that her hus band, and not Madden, had been the leader in the extensive stealing that had been dono all over the basin, and more than this, that ho had beon guilty of ropeatodly robbing the United States mail. It was usual with tho mail carriers on the long routes leading from points on the Northern Pacific railroad through the basin to stop at MeDermott's ranch over night torestand foed thoir horses, and during their stay they placed the mail sacks in bis cabin. It bocame a regular oc- currenco with him, Mrs, MeDermot? stated toleave ber side during the vight and then riflo the sacks of what moncy they con- tained, gleefully displaying Lis ill-gotten gains, at the saine time threatoning her lifo if she over tld any one of what b had done, In this w many hundred dollars w stolen by a man supposed on all sides to be a model citizen. McDermott is now in the hands of the law officers of Johnson county and his trial at Buffalo in the near futuro will prove u rovelation of villainy unpar- alleled, it is thought, in the history of west- eru criminal operations e LAMY'S FOLLOW 18 came into Wyomng several ye: BE RS ACTIVE, Influencing Legislation in Massachu- setts and Expecting Great Things. The Simon-puro nationalists who are fol- lowing Edward Bellamy's personal leader ship in Massachusetts are s quoer lot, but they are really making their influence felt a little under the gilded dome on Beacon Hill this year. Bellamy is the editor of the New Nation, a weekly paper recently established, and the domand which he is most vigorously urging upon the Massachusetts leyisiature just now is for legislation to permit cities and towns to do their own street lighting by gas or electricity, His paper makes some in toresting points in favor of the proposed law. Thus a writer in tho last numbor says SIf i is unlawful for cities and towns in Massachusetts to light their stroets with gaslights why 1sw't it unlawful for them to light their streets with oil lightst My old town of Groton, Mass., has for years been doing the latter. Has it been dowg wrong! But T suppose the gas fellows would say that in the latter case the streets are not torn up lay pip® @, ot anyway! T can't seo, if the people of & town vrofer to light their strects by new instead of by old"fashioned wetbods, why they (all o But who owns the stroots, | them) should not_have as pei as a fow of them.” Mr. Beliamy haudles the subject editorially in this way ; ‘“The joint committee on manufactures in the Massachusctts Jegislature has reported bills granting special permits to five or si towns to manufacture their own gas an electricity, This is understood to be the outs come of & conference of republican leaders tq ect a right ta meet the popular demand for municipal ownership. It 1s agrood by old hands at polities that it will not do to ‘go into the nexy campaign handicapped by a blank refusal to listen o so reasonablo a demand. But ara not the ropublicans weak in their programmel In allowing one town to buy a gus or cloctria ht plant do they not admit the principles for which all ood nationalists contend{ It seems to us that this, the Iatest move of thy republicans, is the best kina of an argument in favor of & general statute under which any city or town can voto to buy, own aud run a lighting plant,” Boston is probably tho most monopoly- cursed i town in_ the country in tho matter of transportation facili- ties. Tho city is gridironed by the troliey system of elecirio ronds, all cone trotled by the West End company. Governor Russell's expose of the lobbying mothods of this corporation at the state house last year secured his election. The concern doésn't own the logislature now, but it has for years controlled Boston's local government, and, it must be confessed, the newspapers almost without, exception, ' Its franchises bring no revenue to the city save the ordinary taxes upon its visible property. But Boston has not secured rapid transit yet by any manner of means, while the accidénts caused by the uso of vastly moro powerful electric currents than ever were used in this city mako an ap. palling list. There is a great deal of popula resentment in Boston which has not yot found opportunity to eapress itseif, and the nation- ists propose to take advantage of it when tho tlood does break loose. ‘I'hus a recent, propo- tion from the West ISnd company which would cause a Now Yorker to open his eyes wide with amazement impels Mr, Bellamy to remark ; “President Whitney of the West End rail. road of Boston proposes that if the road can be guaranteed exclusive control of the street railroad system for fifty years, froo of taxes, tributes or levies, it will undertake to pro vide rapid transit for tho city, Otherwise, he nothing will be doe. " 1f Mr. Whi ney would only consent to have a plaster cast of his chicek taken for the world's fair at Chicago 1t would dwarf all the other exhib- its.” The Christian socialists, who, by the way, include most of the nationulists, for their ideas are much the same, recently cstablished an orgau called the Dawn. This is its odd prospectus : ‘nristionity without socialism we be- lieve to be & lie; socialism without Chris. tianity we cousider a fatal mistake. Wo pro pose to adhere uncompromisingly and unful- teringly to both, and on that line to publish as frequently as we can. ‘This is all wo shall promise and we shall uot go into debt, | haps this is just as well, who desire a weekly can find it in the ) Nation. The less frequent iysue will give us greater op- portunity for lecturing and writing in other papers, and so, while' keeping up our own monthly standard, enable us to do more and better outside work to spread the canse,” Tuo nationahists hove great hopes in con- nection with the third party convention to bo hold at Cinciunati May 19, They will bo well represented there, and they will make ev effort to incorporate some of their ideas in the declaration of purposes which they ex- pect will be promulgated. A colony of nationalists in St. Louis aro about Lo start a co-operative storo with tho ald of a capablo merchant who is to join tha colony. ‘T'he plan will be to sell goods at the usval prices and deliver them at the resi dences of customers, and at the close of every threo months' give the net profits of the business to each customer as a dividend in an equal per cent on his purchases and on whatever amount he may invest in tho capi tal of the store, An, A New Move 10th, Frice, Millard Hotel Hughes, 2424 Farnam, 624 N, 16th, rl & Woolworth ay . the named leading druggists nandle the famous Excelsior Spriugs, Mis souri, waters and Stercan Ginger Ale. - of very Loslie & Leslio, 102 N (OO} A quartette protty stories by Francois Coppee, Honore de Balzac, Alphonso Daudet and Alfred de Musset, under tha title of *Idie Time Tales,” has just been pub- lished in the (ilobo Library eeries, by ltand, McNally & Co., Chicago,