Norwalk Chronicler

Evening gazette, Tuesday, March 9, 1897 · page 7

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PROFESSOR .J. DI. MUNYON.

The Munyon Remedies act instantly,
giving relief after the first two or three
doses and effecting a rapid cure even in
the most obstinate cases. There is_a
separate Munyon Remedy for each '(115-
case and each specific has plain direc-
tions, .
you are ailing get Munyon’s Guide to
Health from your nearest druggist; it
will describe your disease and tell you
how to cure yourself with a 20 cent
Munyon Remedy. If you find that you
have rheumatism, take Munyon‘s Rheu-
matism Cure. If you have kidnev
.rouble, take Muuyon’s Kidney Cure, If

'ervous, use Munyon’s Nerve Care. If
' ’011. have catarrh, Munyon‘s Catarrh
I Cure and Tablets will cure you. If it is
afemale complaint, use Munyon’s Fe
male Care. If you have stomach trou-
ble take Munyon’s Dyspepsia Cure; for

a cold or a cough. the Cold Cure or the

Cough Cures, and so on. No matter
‘Vhat the disease you can be absolutely
certain of a cure if you take the remedy
recommended in the “Guide.” \Vhere
you are in doubt, a personal letter to
Professor Munyon. 1505 Arch street,
Philadelphia Pa., will be answered, With
“free medical advice for any disease.

AT ALL DRUGGISl‘S—?5c A BOTTLE.

 
 
 
 
 
 
 
 
 
 
 

 

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hound and Tar. Acts like magic. Sold
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Pike’s Toothache Drops cure in one minute.

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It’s so simple to get rid of a cough or i

 

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to Reazlers of This Paper. " '
., .- Send this “ad.” and to
:7, cents in stamps and we
' will mail you 1—41b. of
any kind of Tea you
; may select. the bestim-
‘ ported. Good Teas and
. Coti‘ees. 25c. per lb. We
willsend slbs. of FINE
AMILY TEAS on receipt of this "ad.” and $2.00. All
charges paid. (S. I.
THE GREAT AMERICAN TBA ‘30.,

31 and 33 Vesey St., N. Y., P. 0. Box 289.

Special

Ir

 
 
 
 

 

. 3.. xx; at.

 

,i
Telephone Service.

 

The Southern
New England.
Telephone Oo-

TELEPHONE SERVICE

$25 a
ircuit, and Long Dis-

“nce Transmitter at and upwards.
c'cording to the amount and character
of the service. For details, address he
I ocal Office of he Company,

iSentinal B’hl’g., Washington St.,
SOUTH NOR WALK.

 

OFFERS

n this City with an
quipment of Metallic

 

Horace E. Dann.

EXCELBIOL

iverv and Sales Stable.

vuuvvuuw~

\

 

6. Opposite Danbury and
’ Norwaik Railroad depot‘
Norwalk. 001m. Stylish
Single or Double Teams
with or without drivers:
Safe horses for women
endohildren. .
ADDLE HORSES A SPECIAL‘IY

EBE’S YOUR GIMME.

A fine building lotion Wilton ave.

.924

nue. If you intend to build, look at

this before purchasing.

Water, gas and sewer on the avenue.

ill be sold at a Bargain.

W. H. BYINGTON,

eal Estate and In surancr
Room I. Gazette B’t’d. ‘

 

i ran KNOW

That you can save‘money
by buying your Meats
l ind Fish at
. r.w.smuns,
1‘ as»... Sir;
erything First Class.

' OPEN evemncs

t

 

 

 

sothere can be no mistake. If

 

P

[CONTINUED FROM SIXTH PA GE 1

' From this (remembering also that the cost of
roduction has greatly decreased) we see that
he fall in the price of silver has not been as

great as we Would naturally expect. How is

this accounted for? This wonderfully sustained
price of silvcrcnn be accounted for in only one
way—namely, by an enormous increase in tho

use of si1Vcr. This has taken place in two (11-

.rections:

1. In the arts. The use of silvc'r in the arts
has increased in the last quarter of a century
several hundred per cent.

2. As money. There has been added. to the
full” tender silver money of the world in the
last :23 years 2:11 amount equal to the accumu-
lations of all the ages up to that time.

In view of those facts it is simply trifling
with words to say that silver has been "de-
monetiZL-d.” and to say that “half our money
has been struck down” is, plainly, to tell an
unmitigated falsehood.

Production and Coin-age of Silver In This

. . Country.

Our animal production of Silver is now. and
has been for years more than a thousand times
as grcat as it was before the war. and yet
there are leaders among‘ the silverites who
find it necessary to malign human nature and
attack the memory of good men in order to
explain why an ounce of silver is not worth as
much now as then. .

Our total coinage of silver since 1873, up to
and including 1804. has been $538,444,467. This
is an average of almost $25,000,000 21 year. or
ten times the highest average annual coinage
before 1873. And of this coinage the vast sum
of $431,320,457 is in the form of dollars. every
one of which is full legal tezfiler. Such an
enormous coinage of silver was ever dreamed
of in the world before.

The Great Increase In Gold Production.

But some one might properly ask in this

. connection. “Has not the output of golzl in~

creased also?” The answer 15, “Res, enor-
mously.” _
Up to 1818 the world’s annual production of
gold never but once reached $14,000,000. while
in this last half century it never but; once fell
below $100,000,000. and in 1805 it; was over $200.
000,000. The world now produces more gold
every month than it did in a year half a cen-
tury ago. In other words. sir, the world’s pro-
duction of gold in these last 50 years exceeds
by far its entire production for the preceding
400 years. This is the fact hinted at in my col-
league’s chart. but. not clearly brought out.
And the annual production of gold alone is
now more than four times as great; as was the
production of both gold and silver up to 1840.
This is the fact, sir, which has sounded the
dcathknell of the free coinage of silver.

Theoretical Versus PractIcal Bimetallism.

The advocates of the unlimited coinage of
silver say: “Open the mints to the free coin-
age of both metals. Then they will both be
coined, and both will circulate as money.” But
though every'country in Europe and America
has tried this experiment, though some are
still trying it. the advocates of this method,
cannot point to a single instance in which their
method has ever succeeded. As we have al-
ready sceii. France had. with her mints open to
both metals, first a circulation of silver up to
about 1850, and then a-rcvcrsal to gold only.

Our own experience here in the United States
has been the same. Our coinage ratio of 15 to
1, from 1702 to 1834, overvalued silver and 1111‘
dervnlued gold, so during those years, at- least
the last :20 of them, our circulation consisted
of silver and no gold. The change of ratio in
1834 and 18.37 to 15.98 to 1 (commonly spoken of
as “16 to l”) overvalued gold and undervalued
silver. and silver gradually retired from cir-
culation as money. No one would part with
871.25 grains of silver (the amount of pure sil~
ver in a. dollar) for 100 cents as money when
he could sell it for 103 cents as bullion.

And this has been the experience of every
nation that has ever tried the experiment. A
double standard is, therefore. an alternating
standard. It is not bimetallism, but one-at-a-
time motallism.

What the people want is the use of both met-
als, each in the way that will best serve their
purposes. They want the actual circulation of
both. not simply the promise of it. You free
silverites offer them a method that has always
failed and iii the nature of things always will.
We offer a method that has never failed under
normal conditions. and that is why it has been
adopted by all the leading nations of the world.
You offer a law permitting both to be coined,
hoping that both will be. We offer a plan
whereby the desired result is secured with cer-
tainty. Yours is the bimetallism of the statute
book. Ours is the bimetallism of the counting
room. Yours is theoretical bimetallism. Ours
is practical bimetallism.

A Short History of Coinage.

In the evolution of money the metals gradu-
ally superseded all other commodities as the
medium of exchange. Iron and copper came to
be roduced in such quantities that they ceased
to e “precious metals” and gave way to sil-
ver. In the course of time. as civilization and
the demands of trade required it. gold was in-
troduced into one country after another. In
this evolution a nation’s needs and progress
can be pretty accurately determined by noting
the kind of money used by it.

At first the metals passed by weight. To save
the trouble of carrying scales and the danger
of being cheated by means of alloys the custom
gradua 1y grew up of having the ruling prince
cut the metals into pieces of convenient size
and shape and stamp on one side of the piece
its weig t and fineness (and later on its worth)
and on the other side the features of the prince
as the author of the stamp. This was the origin
of coinage.

But princes were sometimes tempted by
their greed or their need to put into the coins
less of the metal than they should. Then, in
order to compel people to accept these debased
coins in payment of Obligations, the princes de-
creed that the coins must be accepted. his
was the origin of what are known as “legal
tender” laws.

For hundreds of years the money of Rome
was copper. We have a memento of that time
in our English word “estimate.” The Latin
for copper is “aes,” and to estimate literallY
means to give the value in copper. bout 300
B. C. copper was dethroned and silver became
the standard money. About 150 B. 0. gold be-
gan to be used in Rome as money. With the
fall of Rome Europe was for about: five cen-
turies almost entirely without gold money.
the currencies of mediwval Europe being of
silver and copper. The reintroduction of gold
coinage began at Florence, Italy, in 1252 with
the coinage of the fiorin.

As a result of the Crusades the commerce of?
Florence, Genoa. Venice and other states lying
along the Mediterranean had so increased as
to demand the use of a. more convenient money
than silver. Gradually other nations, astheir
commerce became great enough. introduced
the use of gold money with silver money. The
Crusades not; only enlarged trade along the
Mediterranean. but they also opened up to
Europe the then only gold yielding districts—
the Crimea—so that the demand for gold mOney
and the source of supply came together. The
use of gold as money was thereby both neces-
sitated and made possible.

.Then began the coinage of both metals. Then
began. too. as a consequence. the monetary
troubles with which the history of the next
five centuries abounds—the alternation of sil‘
ver money and gold money. the frequent
changes in the ratio in the vain attempt to
keep both, the edicts against shipping out
either kind of coin. the execution of promi-
nent merchants and others for seeking gain
by exporting the metal undervalued in the
mints of one country and overvalued .in the
mint-s of another. These “open mints for both
metals” were not in consequence of any theory
of “bimetallisni. ” but of what Leon Say, quot-
ed before, so aptly characterized as “the prim-
itive inability of the legislators to combine to-
gether the two precious metals otherwise."

Oresme. Copernicus, Gresham and others
had at different times and in different coun-
tries pointed out the source of the trouble. but
the “primitive inability of the le islators” left
the countries without a reme y. And the
supply of gold and silver was so small (as will
be seen by reference to the table showing their
annual production) that the nations kept on,
hoping against hope (as we are a t to do when
we see no alternative) that some ow the open
mint for both metals would give the circula-
tion of both. But, as we have seen, these hopes
were indulged on] to be disappointed. Eng.
land cut 1: e Gor ian knot in 1816' and was
freed from the financial enibarrassments on
this score that had afilicted her. But other na-
tions kept on in their old way. with the old
results of alternating standards, losing at one
time their gold and at another time their sil-

ver.

The flood of gold at. the middle of this cen-
tury opened the way for relief. Our own coun-
try. as might be expected from the enterprise
and intelligence of our people, was the first to
act. As we have seen. congress as early as 1853
(before the birth of the Republican party)
passed an act making silver coins subsidiary
and limiting their coinage and tender. France
began to move i111857, and in 1865 the countries
composing the Latin union adopted the princ1—
plc of limited coinage and tender of silver.
Germany followed in 1871-73. And the principle
has now been adopted by nearly all the civ1-
lized nations of the world.

By reference to the table showing the pro-
duct-ion of gold and silver it will be seen that
shortly after 1870 the world’s product-ion of Si]-
ver began to increase enormously. leaping
from an average of $5., 3,000 in the period of
1865-70 to an average of ..Sl.80~1,000_ in the period
of 1870-75. It was at this time that the theory
of so called “bimetallism” was born. As I said
before, it came into being “born of recent
needs and hopes and fears." The production
of silver was; becoming so largo that it was
becoming hard to find a market for the prod-
uc . This was the reason for the insertion of
the “trade dollar” in the final edition of the
act of 1876. The necessities of the silver pro-
ducers were not yet so great; that. they had the
audacity to propose what. they did a.terward

 
 

 

 

 

About 1876 they began to talk about “bimetal-
liszn” and its alleged beauties.
“'hat Free Coinage Means. ~

What does “free coinage.” as it is called.
mean? It does not mean that the government,
would buy any of the silver. not. an ounce.
The government would simply receivetlie sil-
ver from its owner, stamp it and hand it back
to 111111.: Does that create any demand for the
silver?

Buckwheat flour is now used to a limited ex-
tent for food. The demand for buckwheat
flour is entirely due to this fact. Would open-
ing a. new buckwheat flour mill create any de-
mand for buckwheat? Certainly not, any more
than the reaping and thrashing did. These are
all simply steps in )i'cpariiig the'supply. The
market would still mm to be found in compe-
tition with other kinds of flour.

And similarly the “open mint" would create
no demand whatever for silver any more than
the smelting or the mining does. These aro all

1simply steps in preparing the supply. The de-

mand is in the need of money of various kinds
with which to make exchanges. The owner of
the coin would still have to go forth and find a.
market for this kind of money in competition
with other forms of money. The inimiiig
would, therefore. not create any demand for
the silver. but would simply (put it into shape
to meet whatever real deman there might be
for silver coin in the channels of trade in com-
petition with other forms of money. _

And, sir. because of the bulkiness of silver in
proportion to its value, the demand for sil-
ver coin in actual business is very limited.
As a matter of fact there is more silver coin in
this country today than can be used as coin.
Experience has shown that the business of the
country needs about $125,000,000 in silver coin
of all kinds, including trainer coins. But we at-
ready have a stock of silver coin amounting to
over $500.000.000. So there is absolutely no
trade demand for more silver coinage for some
time to come.

\Vages In Mexico.

Every one will admit that. so far as legisla-
tion can affect the matter. that system is best
under which those who earn their daily bread
by their daily toil receive the best returns for
their services.

The gentleman from Texas [Mr. Bailey],
who has just spoken. points to Mexico as
“prosperous” in conse ucnco of having the
free coinage of silver. e quotes from an arti-
cle in a recent; number of The North American
Review, written by the Mexican minister. Mr.
Romero. This distinguished representative is
naturally loyal to his own country and desir—
ous of making as strong a statement as possi-
ble as to her prosperity. He claims that manu-
facturers are making large profits. But what;
does he find to say about the wages of work-
iiigmen in Mexico? Listen: ‘

“Although our wages are low, there has
10011 in recent years a marked tendency to
their increaso. ” ,

Their wages are “low.” even in silver. What
about increase in wages? The most that he can
claim is that there has been a. “tendency” in
that direction—mo real increase worth men-
tioning specifically. Workingincn will do well
to “ponder on those things.” -

The following statement appears in bulletin
No. 9, 1891, of the bureau of the American re-
publics: .

“One of the greatest evils (referring to Mex-
icm at the present timeds the existence of a
scale of wages which defies all power Of reduc-
tion. which robs the laborers of all sense of
dignity or feeling of association with the rest
of their fellow citizens. and having reduced
them to a condition of abject abasemcnt dete-
riorates to a like extent their productive pow-
er and the measure of their ability. They are
content to regard themselves as a plant or
machinerv which moves by extraneous aids
only and has no power of volition, and no de-
sire to exercise it if it bad.”

And yet Mr. Romero finds it impossible to
claim more than that there has been “a ten-
dency” to improvement in wages.

We have before us. Mr. Chairman, a special
message from the president asking us to make
an appropriation to pay certain railroads for
carrying certain people from the Mexi-
can lino to various parts of the United
States. What is the story behind this? Sini-
ply this. sir: Some of our workingmen,
having been told how fearfully they were
being abused under our system. and being as-
sured that things were “booming” in Mexico,
became the victims of their misplaced confi-
dence in free silver orators and went to Mox-
ico. Then they learned the truth, finally com-
ing home at public expense. How many more
of our workingmen will allow themselves to
be made victims of similar tales?

How About American \Vorkingmen?

And now 'let us see how the situation of
workingmen in this country compared in 1890
with that during the so called “bimetallic
times.” '

From the famous senate report on wholesale
prices. transportation and wages. before refer-
red to. I take the facts for the following table
of wages in leading occupations every tenth

ear for some time before the war. when we

ad our mint “open to the free coinage of both
metals,” in comparison with wages in 1890. a
sixth of a century after we finally adopted our
present system of unlimited coinage of gold
and limited coinage of silver:

,——Wa es per diem.—-—-\

Occupation. 1840. 1 '0. 1860 1890.
Plasterers... ........ $1 50 $1 75 $1 75 $3 50
Blacksmiths ......... 1 50 1 50 l 50 3 00
Blacksmiths’ helpers 83% 834 83% 1 75
Painters .............. 25 1 25 1 25 2 50
Wheelwrights........ “l 25 1 25 1 25 2 50
Carpenters ........... 1 41 1 52 1 94
Engineers ............ 2 2 25 3 00 4 25
Firemen ............. 1 25 1 37 1 44 l 65
Laborers ............. 81 1 04 99 1 25
Machinists ........... 1 54 1 55 1 76 2 l9
Watchmen...........110 106 100 155
Average. according

to importance. for

all occupations. 1860

being reckoned as ’

100 .................. 87.7 92.7 100 168.6

There are in almost every community men
who worked by the day before the war. Any
young workingnian who is at all taken by the
glowin g promises of the free silverites would

0 well to ask one of these old gentlemen how
much he really was paid in those “bimetallic”
days and how much e could buy with his daily
pay in the way of necessaries and comforts.

We have seen that the condition of American
work-ingmen has vastly improved since the
days when we had free coinage of silver. It
has been shown. also, that opening our mint
to coinage of silver on private account would
at once send us to a silver basis. How would
this affect wa es and the men who earn them?
Every man w o earns his daily bread by his
daily toil owes it to himself and those whom
he holds dear to think this over carefully.

Any man who will examine daily quotations
of prices as reported in the newspapers will
soon discover that they change from day to
day and sometimes change very greatly in the
course of a month. But every man who earns
wages is familiar with the fact that they
change slowly. an increase of 10 er cent in a
year being quite a gain. Prices c ange quick-
ly; wages change slowly.

Now let us grant what the advocates of free
silver claim-that going to the silver basis
would “double the prices of commodities.”
Does any workingman believe that wages
would be doubled too? Even if they should
be. how much would the wage earner profit
by the change? No intelligent. workingman
believes for a minute that his wages would be
increased by more than a small per cent—that
is. while his wages might be nominally in-
creased somewhat the prices of the things he
has to bug would be increased very much
more. So 1; 6 real purchasing power of a day's
work would be greatly diminished. All expe-
rience shows that any debasement in the mon-
ey system of a country raises rices faster and
farther than it does wages. his might influ-
ence some employers to consider the propriety
of debasing our currency, but it is precisely
the reason why workingmen should oppose it.

So far as workingmen are concerned the
whole silver question is to be summed up in
one query, Do you want your wages cut down?
If so. vote for the free coinage of silver.

Vfould Not Help the Farmer.

What inducements. do the silver producers
hold out to the farmers to get them to co-Oper-
ate in this scheme? They promise the farmers
higher prices for their products. The sensible
question which every thoughtful farmer will
naturally ask is. Could they and would they
keep their promise? Let us see what the
chances are. ,

They claim that “silver would increase in
value and would carry with it the prices of
farm products."

To say that there is any relation between
the price of a metal dug out of our Western
hills (depending for its value upon conditions
peculiar to itself) and thefpriceof any of the
vegetable products of our elds (each of which
depends for its value upon a set of conditions
peculiar to itself)—to tell men that there is
an relation between the prices of things so
di erent in their nature and uses. is to insult
the intelligence of those who are addressed.

But looking at it. from another standpoint,
let us see what the probabilities are that the
promise could be kept.

One would think. to hear these gentlemen
talk that silver production is one of the over-
shadowing i’ndustrics of this country. Let us
make a few comparisons. '

This total Value f the silver product of the
United State-s iii 1 even when reckoned at
the price lit-fore. . was $82,101,000, and this
was tho gi'vntcst yield in the history of our sil-
Vcr production (Mint Report. page 242).

According to the Statistical Abstract. page
207, the farm value of the cotton crop of this
country in 1801 was $350,000,000: that of the
wheat crop was, in round numbers, $400,000,-
000. and ”13.001! the corn crop was over $800,-
000,000. The value of our corn crop alone was
ten times the value of the silver crop of this

 
 
 
 
 

-....~ -.~‘ . __
, .__,... I

. and nothing has been sincc.,,that I submit new

.here it is. ”

 

. have, but they would paralyze the working

‘which the American people will approve?

. including both

.thc extremities of the body. we place the great

 

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1.:

country and four times the value of all the sil-
ver produced in the~whole world that year.
Why, 511‘, the clucking hens of our farms ['0‘
duce more wealth every year than these si ver ‘
miners. who so atronizingly tell the farmers
what they will 0 for them. .

Farmer friends of mine in Minnesota have
told me that before the war they haveliauled
wheat 50 miles to market with an ox team, oc-
cupying days in each trip. and got 45 cents a
bushel for it in wildcat money, which was in
danger _Of being worthless when they got
home. hot in those days the mint was open to
the “free and unlimited coinage of silver.”

The Situation of Farmers In 1373.

So much has been said by free silver orators i
to mislead farmers into the idea that every-
thing wfis prosperous with them before 1873

a paragraph that have copied from the re-
port of the Iowa State Agricultural society for
1873. It is from an address delivered by C.
Rogers at the Harrison county fair. and gives
a faithfulpicture of the situation at that time
in that mighty state:

“Proud of those aspects and of her progress
in practical agriculture. still the condition of
the laboring man and farmer is far from what-
is desirable. They have worked. watched and
waited for an adequate reward until weari-
ness has well nigh turned to hopelessness.
Farming has been a financial failure for the

ast three years. Hard toil has Opened up fine
Farms and brought to the bins the products of
unexampled harvests. but the sales have hard-
1y paid expenses and bought cheap clothing
until the coming harvest. There is no surplus
to improve buildings, purchase thoroughbred
stock and furnish the home with any of the
luxuries of art and literature.” -

\Vonld Be Hard on Debtors.

Let us suppose that the advocates of free sil-
ver sweep everything before them, capturing
the presidency and the house and continuing
to control the senate. What would be the nat-
ural thing to expect? What would you do if
some one owed you and you were not protect-
ed by n gold clause in the contract? You would
demand what was coming to you. Every man
having an obligation coming due would, in
self defense, demand all that might be coming
to him while he could still get paid in money
of full value. Debtors would be compelled to
pay up at once or give new and better secu-
rity, with a promise to Bay in money of the
present standard. On 1: e maturing of their
obligation they would certainly have to pay
an enormous premium for the kind of money
required. They would not escape making pay‘
ment in money Of the resent standard and
would have to take tieir chances of getting
enough more for their products to enable them
to m akc the payment without actual loss. They
certainly would not gain anything and would
take all the risk of losing—losing not only the
premium )Vhlclb they would surely have to
pay. but depending upon the forbearance of
their creditors not to lose all they possess.

And what is the probability of the creditor
being able and willing to grant concessions?
Dcpositors in banks would withdraw their de‘
posits. This would compel the banks to call in
their loans. The four months between election
and inauguration would be strewn with the
wrecks of business houses now giving employ-
ment to millions of people.

The plan of the free silverites, as all ex eri-
ence shows, would subtract from our vo ume
of money a very large and exceedingly valua-
ble part of it. It would diminish our money
by the amount of our gold and its representa-
tives, at the very lowest estimate. $600,000,000.
Its disappearance would be immediate.

Moreover, sir, we would have poorer money.
The silver money would be bulkier and less
convenient than what we have now. And it
would lack in stability. ’And while “money
makes the mare go” we should not forget, Sir.
that it must. be stable money. '

Creditors, as a rule. would therefore be un-
able. no matter how well disposed. to grant
concessions to those who were owing them.
We who are in debt. sir, are the ones most vi‘
tally. interested in the defeat, the overwhelm-
ing defeat, of every proposal for the free coin-
age of silver. .

Marvelous Performance of a Circus Dollar.

When I was a small b y, I saw something
that I shall never forget} It was at a circus.
The clowns and some other employees ar‘
ranged themselves in a circle. Let; us say that
there were 20 of them in all. No. 1 said to No.
2: “I owe you $2. I’ll pay up as soon as I can."
No. 2 made this statement to No. 3, No. 3 to
No. 4. and so on around the circle, No. 20 say-
ing it to No. 1. No. 1 shoved his hands into
his pockets and with a look of pleased surprise
pulled out a dollar. Turning to No. 2, he said:
“I didn’t know that I had that dollar. Here's
so much on account.” No. 2 took the dollar.
and with similar language passed it on to No.
3. and so it went around the ring. No. 20 passed
it to NO. 1. who received it with a smile and
started to put it into his pocket. but instead
he turned to No. 2 and said, “I didn’t expect
to be able to pay ygu the balance so soon, but
And so it went around the rin .
finally coming back to No. 1, who with a sa -
isfied smile put it into his pocket.

To the little boy who looked as I did thirty
odd years ago, this was simply the funny Work
of clowns. to be laughed at and forgotten. It
was not forgotten. however. and to the man
older grown and charged with the serious con-
sideration of the affairs of a great nation it il-
lustrates the profoundest truth in finance.
What is that truth? It is this: Under proper
conditions the working power of a. dollar is
be ond all human computation. '

was very much surprised to hear this aft-
ernoon a man so rominent as my friend from
Tennessee [Mr. cMillin] speak as if money
paid for terms was lost to circulation. I have
often heard men speak as if they thought that
there must be as many dollars in existence as
there are dollars’ worth of business to be
transacted. What would a farmer say to an
agent for bushel baskets who should attempt
to convince him that he needed as -many bas-
kets as he expected to raise bushels of crop?
The farmer wo d feel that his intelligence
had been insul d, and 'ustly so. He knows
that he can use the same asket over and over
again, and the quantity measured in a iven
time will depend on the speed with whic the
one handling it works. And then, if properly
used, it; is ready to do as much more.

So with the ardstick. the pound weight and
the dollar. ach can do an almost; Infinite
amount of work if properly used. What are
the conditions of big es efficiency in money-—
under what conditions can a given amount of
money do the most work? Let us examine our
illustration;

The dollar in the circus ring did the work of
forty dollars in five minutes and was just; as
capable of accomplishing as much more in the
succeeding five minutes. Why was this? Sim-
pl§ because it moved promptly. ‘

ow let us examine the matter a little more
closely. Why did it move so? Why was each
one so prompt to pass the dollar on? Because
he felt goo —that is. he felt honest. He felt
that when he owed money and had it in his
pocket the ODIKI proper thing for him to do
was to pay up. oreover, each had confidence
in the other. There was a feeling of respect
and good Will among the men in that ring.
This is one. of the conditions under which.
money does Its work most effectively.

What is the other condition? Why was each
man willing to accept the dollar In ayment
of what was comin" to him? Because 0 knew
that it was a good dollar. He knew that when-
ever lie wanted to use it, whether it might be
that day or not for ten years. it would be just
as good as when he acce ted it.

Suppose, on the other and, that each of the
men had a dollar in his pocket, but that they
distrusted each other, each fearing that if he
let; go of the dollar‘ that he had he might not
soon get another, although mone was due
him, and suppose that each was a raid to ac-
cept the money of the other, fearing that it
might; not be good when he wanted to use it.
that it would depreciate on his hands—what
would be the result? Why. of course. each
would keep in his pocket what mo ey he had.
and each would continue to owe be other—
that is, the money would accomplish nothing.

Quality More Important Than Quantity.

With good money and mutual trust a dol-
lar did the work of 40, while with questionable
money and distrust 20 dollars could accomplish
nothing. In other words, the quality of money‘
itst immensely more important than its quan-

1 5'!

And. sir, a set of men who make it part of
their plan to malign human nature and then
offer us a debascd currency would not only
deprive us of part of the money that we now

power of what remained. They are not only
morally wrong. but financially unwise. They
and their policy are alike condemned. They
offer poor money and distrust. We offer
abundant- money of the best quality and well
founded confidence. Is there any doubt as to

To employ a figure of speech, we cont-end
that our body politieneeds in its circulation
both kinds of cor uscles. and that it needs
them both all of t etimc. The best that is
promised by the gentlemen on the other side
is that their plan will furnish them alternate
1y; one at a time. first one and then the other
—that is, Sll‘, they offer us a sort Of chills-and-
fever system, which would produce distress in
life and would result in early death to busi-
ness enterprise. -

Our plan secures to our circulation all the
elements needed for the health of the body.
_ kinds. of cor uscles. all of
the time and. In the proportions demanded
by the most Vigorous life. And behind this
good financial blood. to prevent its stagnation.
to propel it in life giving circulation, even to

heart. confidence—confidence in our financial
system and In each other, confidence in our
system based on approved experience, confi-
dence in each other based on he knowledge
that. after all. men would rather; do rig t
than wrong. ‘ ' _

 

‘5: 'l‘ '1? tb‘

 

 

 

Ivorine, will be found

 

 
 
 
 
 
 
 

 

clothes are clean and white as the driven snow. The
superb cake of Toilet Soap in every package of

Toilet, Bath and Nursery, and for keeping the
hands soft, white and smooth.

 

The J. I}. WILLIAMS CO.. Glastonbury. Conn.
Makers of Williams Famous Shaving Soaps. _
\Vritc for catalogue of choice premiums.

ts 5 ..

oriie + x

WASHING POW

-—-————_—

\

Like all Fairies
Ivorine works as if
by magic; A table-
spoonful of Ivorine
to a pail of water,
and lo 1 the, dirt has
disappeared—and the

is .

itilrtt

n;

WASHING} POWDE

peculiarly delightful for

 

A

 

 

 

 

EXTRA SEE! ‘elON CALLED.

Presdent llIcKinley‘s Proclamation Order-
ing Congress to Meet March 15.

WASHINGTON. March 8.—President Mc-
Kinley issued his first proclamation. call-
ing an extra ses~ion of congress for March
15. The proclamation is as follows:

By the president of the United States of

A moi". 5 .

\‘vlit‘JI‘CJS, Public interests require that
the congress of the United States shall be
convened in extra seSSion at 1:3 o’clock on
the 15th day of March, 1507, to receive
such communication as may be made by
the executive.

Now, therefore, I, William McKinley,
president of the United States of America,
do hereby proclaim and declare that an
extraordinary occasion requires the con-
gress of the United States to convene in
extra. session at the capitol in the city of
Washington on the 15th day of March,

 

'1897, at. 12 o’clock noon of which all per-

sons who shall at that time be entitled to
act as members thereof are hereby required
to take notice. '

Given under my hand and the seal of
the United States at Washington the 6th
day of March in the year of our Lord 1897
and of the independence of the Unite‘l
States the one hundred and twenty first.

WILLIAM McKINLEv.
By the president.
JOHN SHERMAN, Secretary of State.

 

Death In the Storm.

WILMINGTON, 0., March 8.-—-The dam-
age by the heavy rains is estimated at
$25,000 in this county to bridges and
pikes, while that to farms, live stock and
personal property cannot yet be estimated.
All railroad communication is cut off. A
Mr. Taggard, cashier of a bank at Wheel-
ing, was killed, and three others are re-
ported fatally hurt and many more in-
jured.

Firemen In the Bones Room.

NEW HAVEN, March 8.——A blaze in the
society house of the Skull and Bones,
Yale’s senior secret. society, on the camp-
us, last night caused much excitement.
among the students, but it was extinguish-
ed with trifling loss.
been rung in,'and the bonesmen that had
gathered endeavored to prevent the police-
men and firemen from entering. Lieuten-
ant Allord. however, ordered his men to
break in the door. .which was done. The
firemen were probably the first nonmem-
bers who have ever, entered the room.

Fatal Election Riot.

LEMBERG, Austria, March 8.—'1‘he So~
cialists caused a disturbance‘while an elec‘
tion was in progress at Skole yesterday.
The crowd attempted to storm a polling
place, and the soldiers fired on them. Six
of the mob were wounded. two mortally.
Ono soldier and one gendarme were
wounded.

 

Chicago Plasterers Strike.

CHICAGO, March 8.—Every union plas-
terer and bod carrier in Chicago is on
strike, with the intention of remaining
out until the bosses agree to pay the old
wage scale of $3.50 aday for plasterers
and $2.20 for hod carriers.

Hudsonjliver Ice Rotten.
ALBANY, March 8.-—-'l‘lie ice along the
river front here is in a precarious condi-
tion, and the annual breaking up may
take place at any time. In fact, the con—
dition of the ice is known to the dealers
as "rotten.”

 

 

Tenney Signs \Vitli Boston.
BOSTON, March 8.-—The signed contract
of Fred Tonney to play with the Boston
baseball nine next season has been seceived
by President; Soden. '

A still alarm had ~

Millionaire King Dead.

PROVIDENCE, March 8. -— William H.
King of Newport, the millionaire who for
many years was confined in the McLean
asylum and for whose release repeated bf-
forts were put forth in vain on the ground
that he was mentally sound, died at the
Butler asylum yesterday. He was 76 years
Vt age. He belonged to one of the oldeit
and wealthiest families of Newport and.
Was never married.

~a

Mrs. Beecher Very Low.

STAMFORD, Conn, March 8,—Mrs. Hen- .
ry Ward Beecher is much worse today.
Her articulation is exceedingly difficult,
and she is much weaker. It looks as if
she could not live long now, but she has ,5;
surprised her physicians so often with her.‘
rallying powers that they decline to make
any prediction this time. They give ho
hope, however.

McCabe to Succeed Stewart.

COLUMBUS, 0., March 8.—A report here
is that Mr. William Stewart, freight traffic
manager of the Pennsylvania lines W at of
Pittsburg, has decided voluntarily to re-
tire from the service. Mr. D. T. Mchbe,
general freight agent of the westerif sys-
tem, is to take the place of Mr. Stewart; at
Pittsburg. The change is to take place
April 1.

President Morales In Office.

NEW YORK, March 8.—-Word was receivs
ed at the Brazilian consulate in t is city
today that President Moraes of the 9.31
ian republic reassumed office on Mar'hJiI
SinCe November last Vice Prepident V10.
torlno Pereira has been holding the rein
of government, owing to the severe i ness
of the president, who has now quite r cov-
ered.

 

 

Fatal Boiler Explosion.

DUNBAR, Pa... March 8.—The boilers at
W. J. Rainey’s Mount Braddock Coke
works exploded yesterday, completely
wrecking the plant. Robert Haxenbaugh,
engineer, was instantly killed and Fire‘
man Robert Meade. colored, fatally in-
jured. The loss will be heavy.

 

A 10 Per Cent; Cut.

Pr’rrsnune, March 8.—A notice has
been posted at National Tube works, Mc—
Keesport, announcing an average reduc-
tion of wages of 10 per cent. Every (16‘
partment is included in the reduction,
affecting 3,000 men. The workers have
accepted the out.

 

Infected Trees. *

WASHINGTON, March 8.—The national
convention of state horticultural and agri-
cultural societies ‘decided to recommend
the passage-by congress of a bill provid-ng
for the inspection and treatment when
found infected of trees, plants and nursery
stock.

Miss Mabel Hanna. Engaged.

TOLEDO, March S.—-Tho engagement is
announced here of Thomas B. B‘eery and
Miss Mabel Hanna, daughter of Senator
Mark Hanna.’ The prospective bridegroom
is a member of the firm of Legget & Beery,
bridge builders, of this city.

 

Barred From New York.
ALBANY, March 8.—-Superintendent of
Insurance Louis F. Payn has notified the
Guarantee’ Liability Indemnity compa-
ny of Philadelphia that he would not re-
license it to transact business in this state
. for the coming year. ‘“'

 

 

To Check the Plague.

VENICE, March 8.——Tlic international
plague conferrzire has decided to recom-
mend tliat a force of sanitary police be
station in the I-ersian gulf.

 

 

 
 
 
 

 
 
 
 
 

OSSC

 

frrna_cnzhsnvru;'

 

Stamped u Boss :3 5
" AIWays the Same,

 
 
 

‘Cliel’

 

 

 

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