THE SCRANTON TRIBUiq-B-SATURDAY MOUKIN-O. APRIL 27, 1893.
Ball? and Weekly. No Sunday Edllloa.
tubllthd at Sainton, P , by The Tribune Pub-
Hsbtna Company.
Kw York Offloei Tribaoe BuUdluf, Frank ft
dny, Manager.
& P. KINSyV, Ohm ae Ocn-i Mm
C. H. RIMLC, iio'T e Ta.
LIVV. RICHARD, leiToa.
W. W. DAVIS. MaMaasa.
W. W. VOUNQS, Adv. MiM't
f XTIRID AT TH1 roBTOWIOl AT BCRAltTOS. PA., A3
BIOOHD-CSS UAU. MATTU,
"Printers Ink," the reoofrntud Jourol Ibr ver
tlKra, rates Th SOAMTmi Triwuns aa the beat
advertising medium In Northeastern Psnueylva.
nla, "iTlntere' Ink" knew.
Tna WEicetT Tfuaojek, Issued Kvery Saturday,
Csautlne Twehre Haedaanu rnvee, with an Abun
dance of News, Hollou, and Well-Edited Ularet
lsny. For Tlwse Wbo Cannot Tke Tna Daily
TutauNB, the Weekly In Hccom mended aa tbe
Beat Bargain UOinf. Only ft a Year, in AdTaace.
TBI Tesisuxa ! Ibr Bale Dally at the D., L. and W,
Station at liebokear
BCRANTON, APRIL 27, 1896.
The reported willingness of the
Scranton Traction company to equip
its cars with safety fenders as soon as
safe fenders are on the market puts
the question squarely before the public,
and the public has a right to hear
testimony In the premises. If fenders
save life in several other cities, why
shouldn't they save It in Scranton? A
life in Scranton Is Just as valuable as
a life in Baltimore or Buffalo.
Hints to Correspondents.
In opening our columns to a free
Coinage of opinion on the monetary
problem, we must beg to remind our
correspondents of the necessity of
clearness in the expression of their
thoughts. Let ua keep in mind the ex
act Issue, which may be stated, by in
terrogations, as follows:
Is there sufficient gold In the United
States to enable us successfully to ex
clude silver from our currency, except
as subsidiary coin? t
If not, shall we make no change un
til we can have the free coinage of
both gold and silver, under an Interna
tional agreement; or shall we, putting
a tariff on foreign silver, proceed to
coin American silver at a. ratio with
gold to be hereafter agreed upon by
congress?
There you have all phases of the
present issue in a nutshell. An affirma
tive answer to the first question will,
as soon as proved. Justify gold mono
metallism if it be deemed desirable,
even when possible, to limit our pri
mary money or money of ultimate re
demption) to one metal.
A negative answer to this question
will, as soon as sustained by accurate
statistics, bring us to the necessity of
deciding, with reference to bimetallism,
first, whether an international agree
ment Is probable; second, whether It
would be effective; and third. If neither
probable nor effecWve, whether this
country may not, with safety, accom
plish the desired result by adopting
complete bimetallism Independently.
lly confining their remarks to these
few salient points, our contributors
will economize both energy and space,
and likewise prevent an unnecessary
confusion of Ideas.
..If the Interstate Telephone company
is a genuine (business enterprise, and
not another speculative scheme, It will
not object to giving the city a euaran
tee bond. If It does object, kill it on
the spot.
Cleveland a Foe to a Sound Currency.
There is one feature of the current
financial discussion which has been un
fortunately somewhat obscured. The
United States was, until recently, the
largest silver-producing country In the
world. The director of the mint esti
mates the world's product of silver for
. 1S93 at 5,013,740 kllogramB, of the coin
age value of $208,371,100- For the year
1881, prior to the depression of the
American silver Industry, the coinage
value of the American production of
silver was, according to the report of
the superintendent of the United States
geological survey, $75,416,585, It is fair
to say that, in time of normal activity
the silver mines of the United States
produce regularly one-third of the sil
ver production of the entire world.
This being true; and the American
silver production being more than
double the American gold produotlon
(which, in 1891, was $33,176,000), .why
should the president of the United
States fall to use the full extent of his
Influenoe in the direction, not of re
tarding, but of (hastening an ' agree
ment among the nations looking ito the
restoration throughout the world of the
double standard? At a time when most
statesmen believe h European senti
ment favorable to such an agreement
to be rapidly growing, even In money
lending England, why should the pres
ident of the most interested nation in
the world be reluctant to move toward
he holding of another conference with
a definite purpose to fores the Issue;
and why should the constant endeavor
of his administration be to make yet
greater the disparity between gold and
silver? It is more to America's interest
than to that of any other nation that
silver be rehabilitated, for the simple
reason that we, of all nations, have the
most unmined silver. ' Tet the anom
alous spectacle 4s presented under the
Cleveland regime of the official powers
of our government being used to their
utmost, not for, but against, the na-
tional Interest In this matter.
We da not doubt that nearly every!
sincere advocate of the independent
free coinage of silver would be abun
dantly satisfied to await the outcome of
another eaarnest endeavor to secure an
International blmetalllo agreement,
were the hand of our government hon
estly friendly Instead of hostile to such
aa endeavor. There is uncertainty con
nected with the independent free Coin
age of the American silver product;
whereas, there would be no uncertainty
as to the beneficial consequences of an
International agreement upon this sub
Jeot, and It would be a poor Judgment
Which would not willingly prefer cer
tainty to uncertainty In a matter so
vital as is the national currency. But
when the president of the United
States, Instead of fulfilling his obvlouB
duty In the premises, goes over bodily
to the foes of silver and uses all his In
fluence to still. further debuse and de
grade the silver which is so consid
erable an element In his own country's
natural resources, who can wonder that
Bomo of the friends of honest bimetal
lism lose patience and fly to an opposite
extreme?
Vi'e venture to say that had Uenju
mln Harrison been re-elected president
three years ago, the silver question
would by this time have been either
settled or near to a settlement by favor
able concurrence of the nations, with
the United States taking the lead.
It docs not seem fair to a disinter
ested spectator that Russia should as
sume to Interfere with the termination
of hostilities between Japan and
China. It Is not easy to see the Justice
of Russia's reported objections to the
terms of settlement proposed by Japan
The latter country, if need be, would
apparently be Justified In telling Rus
sla to attend to its own business; and
Is no doubt strong enough to enforce
that suggestion if it should come to a
test of armed strength. Japan is a
nation which, in the expressive ver
nacular of the streets, Is no longer "to
be sneezed at," even by dictatorial
Russia.
No More Fake Franchises i
The action of common council Thurs
day night In halting the ordinance giv
ing a right of way to the Inter-state
Telephone company until the genuine
ness of the enterprise- can be estab
lished was unquestionably wise. With
the memory of the Valley Passenger
railway episode fresh in mind, It would
be a mistake to grant any more fran
chisee without first exacting a bond for
the bona fide fulfillment of the con
tract. There can be no objection to the loca
tion of a second telephone exchange in
this city. Competition is unquestiona
bly healthful to a business like the tele
phone business; and the public Is rarely
the loser by It. If the Inter-state peo
ple are In earnest, they will not object
to filing an adequate bond that within
six months after the signing of their
franchise they will have a plant in
actual operation; falling in which the
bond shall be forfeited and the fran
chise revert to the city.
But to grant this franchise outright,
as the Valley Passenger Railway fran
chise was granted, merely as a kind
of public contribution to a figurehead
board of directory, would be a species
of councllmanlc simplicity not to be a
second time excused. The people, It
may as well be clearly understood,
propose to keep an eye on councils in
this matter.
The letter of Mr. Chittenden In an
other column is an able plea for con
servatism In the treatment of our cur
rency. We are Inclined to think, how
ever, that he places too much empha
sis upon the Importance of credits as a
substitute for cash In business trans
actions. One dollar In coin might dis
charge $1,000 worth of debts in a year,
If passed successively to 1,000 persons.
But simultaneously issue five checks
on the strength of that dollar, and you
have inflation, the discovery of which
means panic. Credits are acceptable
when backed by cash or Its equivalent;
but have we enough gold In the United
States to give acceptability and safety
to the credits of the country?' Our
own. opinion Is that we have not; and
that, therefore, the supplementary use
of silver, upon a parity with gold, Is
absolutely essential If we would avoid
a harmful contraction of our currency.
Concede this, and you concede all that
conservative friends of silver expect;
all, In fact, that they could wisely de
sire. Sympathy for the ppor British gov
ernment In its hour of dire financial
need should not be permitted to ob
scure the important fact that, In this
Nlcaraguan affair, England has as
sessed its own damages, declined all
offers of arbitration and proceeded to
the collection of its absurdly distended
claim toy the combined tactics of the
bully and the' bandit.' "Temporary"
occupation of Nlcaraguan soli will be
come permanent occupation and the
Monroe doctrine pass Into the history
of repudiated delusions unless the
American state ' department soon
awakens to its duty.
It is a notlcoaible fact that nearly all
the leading newspapers are devoting
much space to an Interchange of opin
ions .on the financial question. Book
stores', too, report a growing demand
for literature upon the Subject. When
the American votex begins to think for
himself, look out for surprises.
Bimetallism are of two kinds active
and passive. The rotlve blmetallist
believes In forcing thi battle for an
International agreement. The passive
blmetallist believes . In letting; things
take their course. Both kinds are rep
resented In the Republican party, the
latter probably numbering a majority
in the eastern states. But, If bimetall
ism be a good thing, at all, Why is it
not worth striving for? To say that
we have bimetallism at present is only
a partial truth. The bimetallism of to
day, in America, is gold monometallism
plus the remnant of past sops to the
silver interests. It Is an appreciated
dollar of gold trying to hold up a de
preciated dollar of silver by a thread.
There can be no permanent stability In
such a currency as we have at pres
ent. Besides, the business interests of
the country need a currency that can
not be "cornered." i
It would be a good thing If some law
could be devised that would prevent an
already bankrupt railroad no longer
sensitive to pecuniary losses from arbi
trarily inflicting losses on business
men in the pursuit of an honest trade.
Such a law would probably benefit the
anthracite coal trade.
If Chicago stock men arc to be be
lieved, it Is probable that stuffed steers
will soon be In demand In the Windy
City for exhibition purposes In muse
ums In the collection of extinct ani
mals. To a man up a tree, it would seem
to be oheaper to buy fenders than to
fight five or six damage suits each
term of court. '
THE CUKKENCY QUESTION.
Editor of The Tribune.
Sir: Your kindness In throwing open
your columns to all shades of opinion on
the Bllver question ouuht to bo productive
of the best reBults, "in the multltutlo of
councillors there Is safety," aa the
,.....,,ri. utninu it nvn nothlnit about wis
dom, but we have an excess of that and It
seems to me that what wo need is more
n, n im tt-hi-n Amm-icun thouirht
naic,j - - ........ -.
seems to be progressing toward a silver
UaslB a point from which no road leaJB
back. The fundamental historic fact of
the discussion that this has always been
a ttolil basis country seems to be over
looked or denied. From 1804, when Jeffer
son forbade the further coinnge of silver
dollars, up to 1S73, less than $8,1100,000 were
coined, and these being worth from 103 to
107 cents went principally to the melting
pot. ThlB experience seems to show that
the flat of the United States could not
make 100 cents In gold equal 103 ceAu In
Bllver and oiiKht to discourage the present
effort to make 45 cents In silver equal 100
cents In gold.
The argument that a person has bor
rowed a thousand dollars at a time when
It would purchase 1,000 bushels of wheat
and now must pay for It with 2,000 bushels
Is a very striking one and leads the aver
age, simple-minded citizen to inquire why
he pays it In wheat? Why does ho not
pay it In hay, corn, potatoes, beans,
onions, etc., In which there has been no
decline, especially as the product of either
hay or corn in this country is two or threo
times the value annually of " that of
wheat. Is It not possible that we over
rate the Importance' of the amount of
our currency, as well as undertake the
Importance of Its quality? The clear
ings In Wi were over $02,000,000,000,
representing one-third, or perhaps, a half
of actual checks drawn, thus leaving $00,
000,000,000 more unreported. Add to this
all the cash transactions, perhaps another
$00,000,000,000, equals $180,000,000,000 annual
business. This work Is apparently done
by about $1,000,000,000 of free currency, at
least a quarter of which Is hoarded, leav
ing for actual work some $800,000,000. Ob
viously there Is some other factor besides
cold cash required to do this amount of
business. If we should turn to the $4,500,
000,000 of bank deposits In the United
States and consider them as additional
currency, pure and simple, exchanging
goods and lands often for Immense
amounts without using a single cash dol
lar, It becomes at once Intelligible how the
mighty exchanges of this country are
made. It also becomo clear why the In
crease of cosh from $18 to $25 per capita
by the purchase of silver under the Blond
and Wlndom acts did not raise the values
of products in the slightest.
Now, considering these bank deposits us
in effect currency, equal to eight tlmpa
the gold anil six times the sllve in use,
and also remembering that we may In
crease them In a good year $300,000,000 or
$400,000,000 against a possible coinage of
$00,000,000,000 of our own sliver, can there be
any profit to this country in the halving of
the yard stick of values by the free coin
age of silver? It appears almost beyond
debate that opening our mints to silver
would annihilate cr per cent, of the pur
chasing value of our bank deposits. Our
people havo refused to repeal the national
bank law becauso It would destroy $200,
000,000 of good currency. They have re
fused President Cleveland's solicitations
to redeem In bonds $200,000,000 of United
Status notes, because both were meas
ures of contraction and wise men dread
currency contraction and yet It is seri
ously advocated to go to a Bllver basis,
which would contract bank deposits
which are also currency $2,365,000,000 in
an Instant. Hut this would not be the
limit of the catantropho for this currcucy
loss of b'llions. Every sularled man and
wage earner will And that his dollar will
buy In tea and coffee, wheat, wool and
silk, and all other goods whoso price Is
fixed beyond the borders of the United
States, but 45 cents' worth. And further,
"tho vnluo of all property, Is Us cost of re
production. If wages shrink one-half will
not nll'thc houses and products except farm
land shrink in the same ratio? Is It worth
whllo to organize parties and carry on
government to attain such a result? And
Is a people capable of (Joins; such an act
capable of free government?
The offort of tho United Stntos to raise
the price of sliver under tho Wlndom act
by purchasing the total American product
was a total failure. It was a bold effort,
but Its results should convince all of the
Impossibility of America alone upholding
tho price of sliver. Yet I think Colonel
Hitchcock wrong In assmulng the impos
sibility of doing this by a combination of
civilized nations, Tho success of tho
Latin union In doing this for a long term
of years at the ratio of 15 to 1 and the
earlier example of Koine and the eastern
empire maintaining the parity for 1,300
years at the ra tio of 13 to 1 would seem to
assure success, but I do not believe the
Intense conservatism and the boundless
greed of England will allow the experi
ment to be tried. Hence the true policy of
this country would seem to be to raise Its
tariff sufficiently to keep Its trade bal
ances In our favor and to steadily increase
our currency of bank deposits based on
gold until silver again reaches par, which
will come when the protective tariff ef
fect of depreciated sliver shall havo mado
the Bilver-uBlng countries great manufac
turing nations, and when European coun
tries and the United States are buying
their silks, cottons, woolens and Iron and
are hunting for the silver to pay the bill.
Wild as the statement may seem, this Is
likely to happen in much leas than a gen
eration, But that Is another story.
C. E. Chittenden.
Scranton, Ta., April 24.
As to Intrinsic Value.
The Philadelphia Record of Friday says:
"The Scranton Tribune has got far enough
along in the study of economics to find
out that 'neither silver nor gold has asy
Intrinsic value.' when this information
shall get abroad It will stoq the digging In
the mines and put an end to controversy."
The Record It inclined to be funny. But
if It were shipwrecked on a barren isle
covered with silver and gold, It would
probably agree with us that whatever
value either meta-1 possesses is conferred
upon K entirely by 1U adaptability to hu
man uses. Subtract those uses and It
wouldn't be worth the space It ooouptes.
Something to Think About.
From tho Lebanon Dally News.
The Scranton Tribune remarks that
The most prosperous country In Europe
tnAnv la tfrajino. eintwlthataJldlhff lia ter
rible ravagement in 1870. And France, it'
is Instructive to note, has a blmetalllo
currency of $40 par capita, to less than $25
In tho United Slates." This Is something
to think about and to seriously consider
InHhese days of rampant gold-monometal
lism.
That's All That la Sought.
From the Philadelphia Record.
No roldbug, no monomotalllst,' nobody
who desires to maintain the present stand
ard or value, objects to a silver dollar in
trinsically ablo to maintain itself at a
parity with a gold dollar. The moment
that the fight for silver shall be brought to
this plane of honesty the battle will be
over.
TOLD JiV THE STARS.
Dally lloroscopo Drawn by Ajaechus, Tho
Trlbuno Astrologer, .
Astrolabe cast: 1.57 a. m, for Saturday,
April 27, 1896.
5Wf ' &t
Observe that the moon has a black eye.
Gentle reader, have compassion upon a
child born on this day. Of the throe hun
dred and sixty-live It Is the hoodoo.
In boyhood days he will catch no fish.
From childhood up he will be on the
wrong Bide or the market.
' For him the Louisiana lottery, Wall
street and Scranton real estate booms will
contain no prises,
Bhould he make a bet that Sunel could
trot a mile In four minutes the animal
would drop dead before reaching the tlrst
quarter stake.
lie will be un advocate of free silver and
hlB pockets will be free of It most of the
time.
His wife will never tell the neighbors
what a smart man hor husband Is. She
will call him a crank, and will look sphinx
like and weary should he attempt to be
funny,-
He will entertain an aversion for work,
but will be obliged to hustle or go hungry.
Whisky will make his head uche; beer
will cause nausea and cold water will pro
duce crumps.
. N. II. Ajaechus was born on this day.
Ajaechus' Advloe.
Do not be born on this day If you can
possibly avoid It.
TN paint the best is the
- cheapest. Don't be misled by
trying what is said to be "just as
good," but when you paint insist
upon having a genuine brand of
Strictly Pure
White Xead
It costs no more per gallon than
cheap paints, and lasts many times
as long.
Look out for the brands of White
Lead offered you ; any of the fol
lowing are sure :
-Atlantic, Beymer-Banman."
"Jewett," "DavU-Ohambera,"
"Fahneatock,'' "Annstrong & McXalry,"
For Colors. National Lead Co.'s
Pure White Lead Tinting Colors.
These colonere sold m one-pound cam, each
can being sufficient lo tint j pounds of strictly
Pure White Lead the desired shade; they are in
!!?;f?,.feadyMn"'?1 Pain,s kit combination
of perfectly pure colors In tbe handiest form to
tint StrlcUy Pure White Lead. u,c ,onn lo
A good tnany thousand dollars have been saved
property-owners by having our book on painting
lu fr ee ' us po,ua CUi
NATIONAL LEAD CO., New York.
Parlor
Furniture
Our Stock of Fine, Up-to-Date
Parlor Furniture
In simply Immense and prices
at which a parlor can now be
furnished by us are remarka
bly low.
Think of it-A fine, highly
polished Suit, covered in good
Silk Tapestry, at
$25
, BSOur entire stock of this
spring's Baby Carriages at cost.
H.11&
Connell,
01 ind iaa
WASHINGTON AVE
We Have Just Opened Our
First Import Order of
HAV1LAND & CO.
If you want a nice Dinner
or Tea Set we have It. If
you expect to buy a
BABY CARRIAGE
See our line before you pur
chase. We can save you ,
- money.
THE
if V lllllHHaVI VVf
LIMITED.
ttl UCUWIMI HEME.
THE.
WEBER
POAWO
GUERNSEY BROS.
224 WYOMING AVE.
IE 11
GOLDSMITH'S
Popular Prices
Are the Irresistible powers that move the modern world more than the fabled lever o! Archl.
medca.. '1 hey burden the railways, throng the theaters and crowd our place with multitude
who know enough to know that they are getting more than value received for their money.
Old timers, relics of the fossillferous age of merchandise, whose sole and only idea of profit is
100 per cent., stand aghast at prices that seem to thein the acme of folly and the knell of trade.
HERE'S MORE FOR TODAY:
50 dozen French Lisle Ladies' Hose, fancy striped, double heels and toes, the reg
ular 5o cent kind, now going at 25 CENTS
IOO dozen Fast Black Seamless Ribbed Hose, especially adapted for bicycle riders,
and will wear like iron; all sizes 6 to io, ON LY 121 CENTS
Ladies' White Chamois Gloves, with 4 large pearl buttons, easily washed and kept clean,
' 75 CENTS.
AT PARASOL COUNTER
You will find all of the latest novelties in white and colors, at prices within reach
of everybody.
WALL PAPER
We started the crusade on high prices, and will continue the battle starting with
4- Cents per Double Roll:
Shirt Waists More styles to select from than all others combined and prices lower.
TFOR
'
EQUAL
AND.
It is only necessary to visit our
plete with the most attractive Outfits for Boys. See our BOYS' COM.
BINATION SUITS, 1. e., Suit, Cap and extra Pants to match. Elegant
line of Furnishings.
it
THE QAHTERQ "
I ilC OH HI I LllO J
ARE THE BEST COASTERS.
oiu.ise
Consequently they must run easier
tnan any other wiieel. call
and examine them.
C. M. FLOREY,
222 WYOMING AVENUE,
Y. M. C. A. BUILDING.
Good garden tojls arc a great bnt
where shall we go to get tberaf ?' nt to a jro
cer jr, not to a bakery, oe'tr1 y, ilig.i, try
hardware etore. But r hat hard r, a etoref
Ah, there yoa have it I Wy. FOOTB
SHEAR CO.'S la thiatoiM for gurdan toola aa
well aa hardware of moat erery klud. .Eyery
kind, in foot, except eecond rate atuff (eoine
tlinetpasstngfor hardware.) Come and select.
Washington lye
The secret Is out Not only do they
ay we do valuing for a living, but
'that we do it veil. So keep it going.
Tell everybody you : see, but tell them
ot to tell.
EUREKA .. LAUNDRY,
32 Washington Ave.
SPALDING
BICYCLES
3
a3z yi -w,
-
MEN'S FINE SUITS,
MEN'S YEAR AROUND SUITS,
MEN'S SPRING TOP COATS,
TO TAILOR-MADE in
RIGHT
stores. Children's Department re
SQUARE DEALING clothiers,
HITTERS AND FURNISHERS,
THIRD NATIONAL
BANK OF SCRANTON.
Statement March 5. 189S, sailed for by
the Comptroller of tho Currency.
RESOURCES.
Loans $1,436,774.01
Overdrafts 289.74
I'nltod States Bonds 80.000.01,
Other Bonds 200.558. 20
Banking House 28,074.4i
Premiums on V. 9. Bonds,.. 643.75
Due from V. S. Treasurer... 7,600.00
Due from Banks 263,701 J8
Cash 159,878 BH
2,267,006.10
LIABILITIES.
Capital $200,000.00
Surplus 260,000.00
Undivided Profits 72,350.90
Circulation 71,800.00
Dividends Unpaid 520.50
Deposits 1,637.214.00
Duo to Banks 26,013.74
2.267,600.10
WILLIAM CONNELL, President.
GEO. U. CATI.IX, Viee President.
WILLIAM U. PECK, Cashier.
DIRECTORS.
William Connell, George II. Catlin,
Alfred Hand, James Archbnld, Henry
Pel In, jr., William T. Smith, Luther
Keller.
Special attention given to business so
counts. Interest Paid on time deposits.
SECURITY,
CONVENIENCE,
PRIVACY.
THE
Safe-Deposit Vaults,
OF THE
TH
5
404 Lackawanna Ave.
OFFER
exceptional facilities for the safe
keeping of Securities.
' Boxes of all sizes and prices.
Large, light and airy rooms for
the use and convenience of cus
tomcrs.
Entrance Only Through the Bank.
DR. HILL & SON
ALBANY
DENTISTS.
Bet teeth, 15.50; beat set, til for gold eapf
and teeth without plates, oalledorown and
brtdga work, fall for prtoea and refer
ences. TONA.LOIA. for extracting taetk
without pain. No ether. No gaa.
OVER FIRST NATIONAL BANK.
Fine
Stationery
Blank Books,
Office Supplies.
EDISON'S MIMEOGRAPH
And tfuppUaa,
TYPE WRITERS' SUPPLIES
IN ALL ITS BRANCHES.
REYNOLDS BROS.
Stationers and Engravers,
7UGUWINUVL
April 27. 1893.
We
Have Moved
to No. 121 North ,
Washington Avenue,
Next First
Presbyterian Church)
New Store,
New Styles,
New Prices,
and
We Want
You for a
New Customer.
111
FURNITURE DEALERS.
'U Mar ow Mbr q; , .
A mm i !' PSHIQ m a-a sl u snaj '
tea Boot dalhaufna anrahstela ike UJLea
raenptoivaaa, bkct un ,
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