A HONDRED-CENT DOLLAR THAT IS WHAT IT WOULD BE UNDER FREE QOINAGE OF SILVER. A Diminishing Currency Causes Unl versal Distress — Free Colnage Would Bring Rising Prices and Prosperity For All Qur eople. The following able address on the money question was made by Mr. Hugh E. Mclaughlin before the Ford- ham Bimetallic Union, of New York City : The American people are to-day in the middle of a campsign, the most important perhaps in the politica | history of this coun- try, and of unprecedented interest and con- cern to every citizen of these United States, Just as in old colonial days the people rose up and threw off the yoke of their oppressor and declared without fesr of consequences that they were free and independent, so to- day our people are again aroused and sooner or later, whether at tne coming election or not, are going to proclaim to the world that this is not only a free eonntry in the in- dividual and personal rights of citizenship, but what is of almost equal importance, that it will be financially free, and that within the boundaries of theses United States every man will be equal to his fellow wan, having equal rights and privileges and equal protec« tion. They intend once and for all to tell the plutocrats and money kings of this country and of England that this Govern- ment will no longer tolerate the unfair ad- vantage that they have so long enjoyed over the Iaborer, the farmer and all producers of wealth. In 1776 the tarmers and the masses of the eople, the real sinew and strength of the Ron, made up the armies, fought thel: country's battles and brought about its final triumph and independence, while the higher class, the so-called arist JOTACY, Were oon« niviug and plotting at the downfall and failure of their more patriotic countrymen. They were the Tories then in the dark days of the Revolution, and to-day the same class are the Tories in this batile of the ballots, and are crying aloud that this revolution, lke the one of 78, is uupatriotie and even dishonest, and is only the wild dream of the rabble and the dangerous mob, But that mob brought about, by their bravery and patriotism, the liberty of their country, now grown to be the greatest in the world, and again the poople, whom the money kings de nounce as a mob, are about to effect another triumph over their oppressors, and will in augurate the greatest ern of prosperity tha this country has ever experionced, We wish to show to the lollowers o our opponents that the free limited coinage of silver at 18 to 1 would be to their best interests. If anv man finds that he is better off under the gold standard, if he sees that he 1s becoming rich- er as his money appreciates, that as Brows every day scarcer his is getting tore valuable and will buy more, then let kim » i money this undeserved and unfair advants his fellow man, but let him not turn in his Arrogance on those who wish to establish a standard that will not appreciate and eanss the fall of prices and property and ali eom- modities; let him not turn on those who wiil establish m system that will make a dollar the same ten years henoe that it is te -day, and, holding himself up as the patriot, de- clare that the advoostes of such a system are un-American and even Anarchists, Bat we are giad to see that as we are approaching the settlement of this question thers is less o Over Peopie are nol to be fooled any longer, and effect, despite their cries of alarm and in aoe ercia bring prosperity and When we ha A curren ually diminishing must necesarily dec the growing he trouble about xe# and oth + X * the fall of pri fallicg prices distress, 2 # at is fall wit I on the contrary increase, ti fal 4 at 4 of the dollars, sul} prices in every Rose that are he up OY trusts, » © rk is harder t AYO al, gas, and whateve bring what it would state of affairs is brought about traction of money, then back to the creditor and in protesting azai we hari back bis charges of we to be called against paying valuable money thar as our creditors are e VeRTS y the % we are than we received, & growing evil § repudiation, idiniors for pr dabts testing we received? uewrned, we are simply asking! ur progerty and our goods, more work and better wages, and we will pay him back in the same num- ber of dollars that we received, If farmers, laborers and debtors are better off, then the creditor 100 Is bound to be benefited, for his would ba a detestable position if he pros pered only by the distress and hard times of the people, But they say, suppose we end a thousand doilars to-day and next vear when or better prices for and the debtor is repudiating his debt by paying in dollars that will culy buy fifty- threes cents’ worth of goods, rise to par all at once, the volume of money is not going to be doubled in a day for it was not eat in half in a day, it has jaken some twenty years to become half what it should be and has eflectad the vdeclinelof prices gradn. ally. The amount of money in circulation will gradualiy increase and prices slowly rise. Even when prices do reach a much higher seals than at present the expense of living is not going to be aoubled. If the amount of whest in a loaf of bread costing five cents is worth one cent and the price of wheat doubles to two cents, is that any rea. son why the baker should charge ten cents for the loaf of bread? A suit of clothes that sells at twenty dollars and contains, say two dollars’ worth of wool, Is not going to cost forty dollars beeauss wool doubles from two to four dollars. The baker may add another cent to his bread and charge six cents in. stead of five, and it wages go up he might make it seven cents. The elothier can add the two dollars more that he paid for his wool and change his twenty dollar suit to twenty-two, or add another dollar or 8 on account of higher wages and sell 8 for twenty-three or fourdollars, And so with everything. Higher prices and plenty of inoney among the people will give plenty of work and good wages, which are synonymous with prosperity, Our opponents tell us, and it is the first time that such a senseless wry has ever been rafsed in any political campaign, that governmept cannot fix prices, hey endeavor to show us that this Government cannot raise the price of silver to par, In 1844 England fixed the price of gold at about $10.50 per ounce, and offered to buy the gold of the whols world at that price, and what was the result? Bhe succeeded, and did it alone without the assistanoco of any other Nation, illastrating clearly that commerce is not the ouly thing that regulates price. In this instance it was price fixed by the Government, That the business of the world adjusts it- sell to the arbitrary eonciments of govern. ment is but the theory of {res trade and pro- teotion. But to-day all our opponents, whether gold Demoerats or Republicans, pro- elaim that the Government cannot malerie ally change the commercial value of silver, Ou adversaries conrge that we will be re- pudiators. They einim that under free coin. age | will depreciate, have leas pur. me power snd to pay a debt in it that Was contracted under the wold standard will be an aot of repudiation, as we will ba pave Ing in fifty-three cent dollars. We deny this and tell them that our dollar will be a bun dred-cent dollar, The United Btates will make it a legal tender doliar worth one hundred oconts and will raise tho price of sil. ver, which 1s now about fifty-three cents, to 100 cents, by making an unlimited demand ora limited supply, and thers is no ono in ino wide world who will sel his sliver, if he ins any, at fifty-three cents or seventy-three cents. or at any price lower than that which the United States will give. This Gavern- ment will coin anyone's sliver into silver dollars worth 100 cents and that will fix the price, Wa are told that we will be flooded with the sliver of the world, which will drive all our gold from our shore«, but this is also 8 groundiess issertion, The gold bugs prophesied that under the Buaud act our sold would go abroad, and yet immediately after {ts passage our stock of gold increased from one hundred and ninety millions to nearly five hundred millions, which clearly shows that silver in- variably keeps the gold, while under the kold standard we cannot keop it. We have been witnesses to this fact, We have seen our gold leaving us and golog abroad, and wo have to lasus bonis and torrow money to run the Government, and oven ncw the bankers and brokers have had to make gigan- tio efforts to get a little of the gold back, as they know another bond {ssue or a paalo would mean Bryan's alaction, Now as to the flood of sliver. Bafore en- teriag into any kind of discussion we might answer casually that plenty of silver and no gold is bettor than no silver and no gold. Now let us see how much silver will make ap this flood. The United States proauce about forty per cent, of the silver of the world, Mexico about forty more, leaving only twenty per cent. to foreign countries, Mexico 13 not going to smd us any, since she herself holds her mints open to receive it and coin it, and we have remaining, thers- fore, the twenty of foreign coun. tries, jut the bimetailie, and even the gold rountries of the world, most of this for their own colnage. The flood cannot come, harefore, from the production of the metal, There are besides £3, 500,000,000 of silver in coins outside of this continent, Although it 1s chiefly subsidiary, being ecinnd on a gold basis and backed up by gold, it is, therefore, as efficient as gold, and forelgoers are not going to {neur the expense of send- ing it here and get nothing better for it. On the contrary, they would lose by the transaction, as the prevalent ratio in other aountries is 15% tol. Ours being 16 to 1, they would lose a hall part, or about three eehts on the dollar. As to the silver used ia the arts, it would not pay to melt down all the silverware of the world, whichis to a iarge extent, valuable for the labor and skill applied to it, for the mere amount of sliver bullion contained therein, Would it be ad- propose, tu have free ¢ per cent, use , 5 some unnatural bullion value of 3210 17 We are suffering from a contraction of money; the scarcer it is the lower are pr [ wa the ratio 32 to 1 we would have to eall in all the silver that we have already coined at 16 to 1, melt it down and re-eoin it at 32to 1, and cause ago of one-hall the money already {on cireu. Two dollars woud } t established of a ahr f SOT n made in ny relief, wa would cause a great scarcity of money and harder times, The am { silver and gold Hscovered and produced fu the story of man, been too demand upon it for coin and Carlisle sald in "78: “Mankind tunate, indeed, {{ the annual pr gold and silver ooln shall keep pace with the annual increase of population and industry, It would be unwise, therefore, A system t would pr duction t again offer to cut saving the sliver inta ish the ratio of § unt « ha« never, he oth require a ban has ever prevalied, thers the in t yey in the same namely, nn fa ME RL, oreosaitn. . nn the ne (al tender 13 grains o : Hi coin bim =» ust judesd be m foolish a the or v nay BY cas ty of the 50 cent aollar for than those doilar. ore EE — Gold Standard Not tiood for a Natiom (in Debt, The United States are eminently a producing Nation. Our naturs! re- abandance and quality are unequalled by any other Nation in the world. In the fiscal year 1804 our exports of domestic products ezceeded our im- ports by $215,210,8315. To realize this balance of trade in our favor, we had to sell about twice as many goods as we would have had to sell under bimetallic prices current before 1873, In other words, if we bad the seme Prives in 1894 that existed in 1873 the alance in onr favor would have been about $430,420,630 instead of only $215,210,315, « The appreciation of the gold stand- ard bas been so great, even from 1890 to 1895, that England, a consuming Na- tion, on balance of her imports over her exports, realized a profit of about $250,000,000, due to the fall of prices from 1890 to 1885, In addition to this, we being a debtor Nation, every increase in the purches- ing power of the dollar makes heavier our burden. Oar National debt in 1866 was $2,827,868,050.46 and in No- vember, }1895, was $1,126,379,106. Taking nine leading staples of the American market we flud to onr dis- may that the balance due last Novem: ber is greater in purchasing power than the whole original debt was in 18661 For the American people, producers snd debtors, to favor the gold standard, which lessens the price of their pro- ducts and enbances the value of their debts, would indeed be a most suicidal poliey. A Prediction Verified. Hicks~{o you believe in presents ments? Wicks—Yes; something told me only a little while ago that I was going to meet & bore.~Somerville Journal. DOLLAR, MEXICAN SILVER If the gold bugs will but state all the facts, they are welcome to all the comfort they can get from the “object lesson” of the Mexican silver dollar, It Mexico practiced free and unlim- ited coinage of silver, instéad of throwing nearly one-balf of her pro- duets into the markets of the world as bullion, the price of the bullion would not fix the prico of her silver, inelnd- ing coins, as taught by the silver men of Europe and America for the past twenty years, But Mexico is unable to preserve the coinage value above the bullion value for the following reasons : Her silver money is in somewhat the same condition as our greenbacks dur- ing the War—good for all purposes *‘except duties on imports and inter- est on the publie debt,” and is, there. fore, worth less than onr full legal tender money, ns was the case with our trade dollars of 1878-6, So long as they retained the quality of legal ten- der they were at par with gold; when the legal tender quality wus repealed they became bullion and were worth only bullion price. Also us was true of gald when demonetized by Germany in 1857, It became Lullion in that country and the price of the coins fell to bullion price. And in England, at the present moment,§ the value of English gold coin is three cents an our = greater than gold bullion. The difference is waintained by the laws of legal tender and receivability in the revenues, In these respects the Government of Mexico cannot act freely and fully, because of the contract to pay goldon her foreign debt (8180,000,000), which was funded many years ago, when gold and silver were at par, and it was not anticipated that Any attempt would be made to demonetize silver in order to double the value of gold, sod at which time the Mexican leaders also consented that the interest—as a matter of convenience—should be pay- able in London and in gold. Not knowing then, as they have found out since, that thers would be any inconvenience they, like our debt. what should be justly paid, and there- fore Mexico must collect a large por- the revenues of the home country, of silver above its bullion value, there laws of legal tender well enforced, asin the United States, Eng- land, France, Germany, and several other countries, In all these essential No par- allel can be drawn between the Mexi- can dollar and the United States full legal tender dollar under free the Chicago platform.—New York Sabuz- ban, —————— Evil Efleet of Falling Prices. General falling prices mean a con of money and are de ity, not only in business circles, but also among the people at large. Low prices lassen the profit to the maaufacturer merchant, and destroy the producers, ; quent fall in their mediate effeat uj bers of society. The fall, the number of men employed di- mishes, no new concerns and enter. { all prospe This conse- revennes has its im- the other mem. wages of laborers On mills throughout the land are elossd. aud, in a conntry where low prices pre- itors will ultimately feel it, for the debts due them enhance in value as prices fall, and will finally be sacrificed in their debtors’ bankruptey. All these conditions are in our midst to. day, the direct results of onr present financial system. The gold standard has been given a fair trial and has been found wanting. The public econ- fidence and credit of the Nation have been weakened by the present Admin. istration to the extent of 8160,000,000 in the maintenance of the present standard. Isn't the continuance of the present gold standard a little too dear and costly for the American people ?— New York Suburban, I ———— An English Oplaion, When Bryan's valisnt fight against the corrupting money power was opened, Democratic newspapers pub- lished a statement made by the Lon- don Financial News, of which the fol lowing was the pertinent part: “There can be no doubt abont it that if the United States were to adopt # silver basis to-morrow British trade would be ruined before the year was out, for American industry would be protected not only at home, but in every other market.” It bothered the Republicans might- ily and at last the sernpulous Repab- liean press, that “Divine Right” sec- tion of newspaperdom, sent u messayo to the Financial News respscting the quotation. The News denied that tae statement had ever appeared in its columns. Thereupon representatives of Democratic newspapers were sent to London to look through the Finan. cial Nows files. They found that the quotation was correct. Since then the Republican party's press has not said a word about the Financial News quotation. [ A similar resnlt followed the alleged discovery that Prince Bismarek's let- ter favoring bimetallinn was falsely translated. When the original was published and the. Democratic claim that it was genuine thns substantiated, the Republican press relapsed into profound silence on the ‘question. — Madison (N. J.) Democrat, DENEFICIAL EFFEOTS OF THE WIL. fON TARIFF LAW, An Enormous Increase in Our Kx ports is Conclusive Evidence of the Soundness of the Low Tarlnt Position — Remarkable Showing, The statement of this country’s total foreign trade during Beptemober, is- sued by the Burean of Statistics, 'mukes without apy question the most re- markable showing, for the autumn keason, in the history of American commerce. It was in September, 1801, that the failure of the European and Asiatic wheat crops started the huge export movement of American grain to Europe. Our export record of that Year has long been proverbial in the records of United States commerce, Yet, though our total export trade of September, 1801, reached the large figure of $52,054,085, the exports of last month riee mate rially above them, of 885,008, 5u4, To bearing of such a movement on present sitnation, comparison more recent years is necessary, the with 826,558,531 above that of September, 1895, and $26,050,731 above 1804, When the last month, as compared with previous years, 18 taken into reckoning, the contrast becomes even more sive. © Our exports of Hast month ex- ceeded imports by 834,272,889, where. 8s in the same month of 1805 there Was of imports reaching Ih re is little cause for wetonishment the favorable ment of the foreign xschanges, such a radical in Love wien alteration in our trade situation has oceurred, large part of this enorme trade has been caused 1891, us 1808, export ns in ghortaze oO ceria Crops, & very in this country. But great misfortune to to the grain move. went the ut heavy export trade. The rec Septem be t's grain ox. ports, i ity and by Yolame, is issued nrean with peral tra throws great lizht on oy h European grain generous harvest it would be a ascribe entire iy a against simultaneons reg ort, 6 ae movement. Comparison those of the oc 1861 shows very plainly tl i ¥ Lunt figures with month in other combined with breadstuffs in rai ing this vear's ex- port average to sal. It is rue breadstafls « port movement ’ ol shows increase of EEE Con its heavy al over last year: bat 10 such comparison our total ex. the record of igh kinds exceed stuff trade of Last ounirs’s 9,649,953 ¢ wide) lower, he eo I BGT hoa AOA, TY i are slioht | f breadstuffe og per exports cent. of the exports; this year percentage to the t barely From this the necessary conolus- ion is that our export trade this #on 10 sll brasches i in § vastly exceeded that A YEar ago, but has passed far be yond the record of 1801. In other words the country's ia} IRA 18 3 nels and o anuinct: of years of the Wilson tai net, has reached a volume quite without preco- dent in oor history. That this movewent is not the ont of a single season, was amply demon- strated by the official figures of man. page last Friday, In the face of such impressive and instructive lessons in the benefits even of & hall- | way tariff reduction measure, we ehould certainly advise Republioan orators to say no more about proteo- tion. Taken along with the paralysis in the country’s export trade in man. ufactures, which promptly followed the nohappy McKinley law of 1890, the movement of the present year is conclusive witness jo the soundness of the low tariff position. As to the sctual significance, to our futare, of this unprecedentedly favor. Able trade balance, there can be no two opinions. Had the export increase beon in agricultural products only, it would have been easy encugh, and in the main correct, to pass it by ss a lucky accident ; a picoe of comparative good fortune which we owe to the reason’s hot winds in India, or the wet harvesting season among the other foreign grain producers. This would bave made the improvement in our geveral situation, which may be ex. pected qnite aa reasonably this year ns in 15801, a temporary mattor—as indeed it was five years ago. But when evidence points wo convincingly to the faot that Amerioan trade and production of all kinds have struggled fivally to » sound and stable basis, where they cau at last compete on fairly equal terms with the world at large, the inference from the export trade statistion becomes a matter of the largest moment, — Now York Post. » 3 Teacher-—-Johnnie, do you know waal memory is? : Johnnie Chaffie-— Yes, sir: that's what you forget with.—Texas Sifter, Protectionist Gall, Wen We have seen many specimens of protectionist gall, but the following from the Cleveland Iron Trade Review comes very near the top of the list: “There has heen not a little infiam- matory comment in the cotton grow- ing section of the Bouth on the ndvance in cotton ties this year, Last year orders were taken as low as 624 cents n bundle of thirty ties, or forty. five pounds, This year the price has been advanced to $1.25, There will be no sympathy with the compluints of the cotton tie consumers, in view of their open and successful assault upon the manufacturers in the Wilson- Gorman tariff act, which put cotton ties on the freo list, while less finished products carried a fair duty. After strugghng for two years under this handicap, and carrying on a profitiess competition with English manufactur- ers, the cotton tie mills of the United States made an arrangement with their Euglish competitors for a divis- ion of tonnage, and later, it is report. ed, the foreign allotment was bought up by the mills in this country. This 15 a counter upon the ruthless attacks for his ties, as he ought to without complaint—since all are on an equal footing—and the manufecturer will ont,” tariff that is more just than that which cotton on the free list, [hey can be made as cheaply ia the United Btates as anywhere world, and there would be or justice for placing » duty on them. If manufacturers of cotton ties ever carried on a ““profitless competi- pinges ties in ou because they did not manage their own business well, They can make tics at as small a cost as the Pritish mannfacturer, if not smaller, and the only reason why they want high protection for their product is to secure a bounty which the farmers of the South would have to pay. The recent rise is tho result of with a prohibit far easier than it is now for turers of cott maintain extortionate prices for their products. — Atlanta Journal ————— ties but in the price of a combination, manufao- in ties to The False Viea of Protection. T duties is CIAIROTY tariff is he average rate of over 40 per 1 i to protection Hen BUCH 8 now force is rid What do Where Are 9 $ 2 * 4 i otestion 1s e, to what height favorite cries ia, mericans,” and they ut the duty preserve the for our home m pr § of IC INAarKet "ho bas the Ties Yaiue AR JI is of an similiar character am iess than $300,000, 000, or : eth the quantity of home the same character, 4 less tha tard A very small per the United States bay foreign-made goods, and an increase of the tariff would the f in of the people. While our mand of the cent, sitizens of the Cot « home market under the rapidly their sales in other countries. They increased crease since July 1 has been larger in proportion. factory than were those of the MeKin- ley tariff, which the Republican leader 18 #0 anxious to restore.—Atlante Journal, All Denefiting by a Lower Tarif, The farmers are not the only class that are finding better markets even under that imperfect measure of tariff reform, the Vion Chas act. The increase in the export of agricultural products does not sccount for the whole of the increase in exports. The Courier-Journal has repeatedly ealled attention to the fact that the present tariff bas given our manufacturers a continually growing foreign market. manufacturers themselves have recognized this faot, and while some of them are still clamoring for higher duties many others are opposed to any revision of tariff, except in the direc- tion of more revenue, whioh means less protection. — Courier-Journal, When Blondin walked a rope over Niagara, thousands went to see him who wonld hardly have walked a block to see him walk the same rope stretched twenty feet above terra firma. Why? Manifestly because in the one ease a fall would have been a trifling affair, and in the other he would have gong down to sure death. Now a searcher after glory and simoleons announces that he will ride across Niagara on a Bleyele over a charged wire, Of sonra Thousands will go to see the wonderful and idiotic feat, and if he goes down to the whirlpool! and rocks below there will be the usual emotional effects, In. cluding sobbing men and faluting wor med, who went there half expecting Jus. such a tragedy. A A ————— ————— WILL RAISE ELEPHANTS. Novel and Extensive Enterprise Projected in California fewis Sells, one of J Forepaugh & Bros! Circus, owns BOO seres in Merced, Cal, and firm 00 more acres Lo add the proprietors o elie the is Irving Lo them, Instead Francisco + fii,” 1 / | raise They have come onciusion the climate of ( Lo obtain of raising fru kaye the Fan #nimals hint sitlornia | Blageous fact endeavoring to get an is properly mated bere The 8% 18ND ¢ un Bog land, George OO, Stars enzaged in se curing animals for that purpose are He has been a9 exten Bive traveq rin fu t aL world { Africa, Fast In ia and throughout made forty-two trips b Europe. His whole sec iring animals a biz stock First there is having America the tween una time The tirm There are two the African ar fourteen eleplinnts, » Baits « Pairs variety: Llhere are pair of antelopes, ure one Hamas, seven came fil sorts of sOnards leopa . one pi ii er par of nyighaus, mens « he On ’ inder, pr by the explosion that Thus it follows AAK jr that the tem- perature of the cylinder remains sta. tionary and so low that the cooling ap- paratus generally required is dispensed with, It is supposed that this system of motors will be available for motors which range from one horse power, Just ceded to four Don't Sleep Just After Dinner, To test the supposed advantages of a nap after dinner, Dr. Schule of Fri bourg has made a series of experiments on two normal subjects. The contents of the stomach were analyzed a few bours after meals, some of which were followed by sleep and some were not, and the results indicate that eleop weakens the stomach’s movements, while the acidity of the gastric juice is increased. On the other hand, simple repose in a horizontal position stimu- lates the motion of the stomach with. ont increasing the acidity of the gas- tric juice. It is concluded. therefore, that one should streteh himself our for a rest after a hearty meal, but should not go to sleep, especially if the «om. ach isin a dilated condition or is juices very acid, A New Plant, The cultivation of the cassava plant has been begun in the United Stare, It is a shrub from six to eight feet tall and bears large tubers underground. These are first heated to drive of the poisonous hydrocyanie acld, and they are then made into tapioca and dex- trive. It ix sadd that the latter can be sore easily manufacture] from this aan than from corn.
Significant historical Pennsylvania newspapers