8
THE SCR ANTON TRIBUNE SATURDAY MOBNING, OCTOBER 31, 1890.
WWIR
A Plain Statement of Fact
Which Is Best for the
Tlir election which is to take place on
til." 3d of November will be one of the
most lin:m t int In the history of this
country. The main issues are whether
American industries shall be rot'-cteil
uinl inimintcri, uml a sound currency
I the I'tii'llc credit inuintnim-il; or
vhetlier we sliull liuve free trade with
ruineii indnstiies'and free silver with a
cjeb.is.d currency and u ruined public
en .lit.
The following important facts and fig
ures, obtained from the public: reports
on linance, commerce and tiuiKation,
show the relative merits of the policies
uf these two parties, a careful unuly.-iis
of which should convince every intel
ligent voter which party has dune the
mo si to promote the general prosperity
of the country and the happiness of the
people in the iast, and which is must
likely to secure the same in the future.
How the ( leai in;: House Hiimiicsi. ol
.ew York l A Heeled by t'luiligv of
A1 in t ll i s 1 1 ;l 1 1 ! .
Tilt- biisir."ss transacted tlirnuqh the
i'e arim; houses of the I'nited Stales
each year vives an indication us to the
general piosticiity and the amount of
business dune. The Finance Reports for
1W4, on pase fttili, contain a table niv
inc the transactions cf the New York
I'll in in.T house every year from lS54,the
time u was or.nanizetl, to IMi-l.
Tlie toial amount of business done 111
rich of the last tour adminisiratio.i.-i,
1 i'in:iiiisr with that of Garneld and Ar
I'nir, is as follows:
ti.irllcli! ar.J Arihiir....1t-Sr Sim -,ft."!.8''iii.!W
It -Vel.'llld 1V."-MI U'l.'i'.l".',!!.".!
H. iiri-uu 1Vi!i-!'. M'J 7!K. ;.".ii,1i'7
I. ust ;i yeaiM llairiHon.lfeHii-Ki Mi.iWI.S'i.'Tj
1- i.-.-t i! .'a!-M.'lcel.i!l.l.lMI3-!ni (iS.4'.i3..LJ,liiil
An cxamiiuuion of these figures shows
llnu thi! business (lone through the
'leuriiiK house of New York duri.i;
larii-ld and Arthur's administration
was Vl.'i.Hl.s.li.'.ilS more than it was dur
Iiir tin; lour years of Cleveland's llrst
lolministration. Durir.K Marrisfm'B ad
ministi;ition it was $ls,4:'s,T47.0.Mi more
than It was during Cleveland's. Dur
ing the hint three years of Harrison's
ainiiinlstration it was $lil.5UO.'Jt;s,4l8
inoiv than it was during the llrst three
i ars of Cli velaud's present udminis
li a I Ion,
These facts tire very significant, as
Hit y clearly show that the entire
j iiaioimi of business In the country has
be-n seriously injured every time that
a Democratic administration has been
in control of the government. The
nii.ive statement only implies to the
Clearing house of New York city, the
business of which is a little more than
half that of all the cities or the fulled
Slab s. The falling oil' In the business
of I lie whole I'niPd States for the "11
tire four years of Cleveland's present
administration will be nearly $H),0y0,
(ii.u.imo. IN creasing lEic-iucss in New York
mid Incri-noiiig It In London.
The business done through the Clear
ing house in New York city and in the
London Clearing house during March,
INK!, and March, ISM, was as follows:
New York.... March, 1W $S,Jfin,nii;"ii'3
New York .iardi, is:ni S.SliiiaVi.iiH
Diilelise $:ii,:mi,v;!i
l.-u'iinn M.iiv'ii, iv:" :.sn.S!c',v.i')
l."ie!oa .March, MM :i,uti,rjii,iui
I per. :iy.f
New York March. Ivi-J.
l.oiidoa .March, IMrj..
.... :':w,s;i.7i2
....$::.ji;ii.iHi;.ki
.... I'.&ll.MOW
K'srecj uf New York over
iilon
$44."ri3.fi24
T.oiitliiu ....
New Yi.rk.
...M ir !i,
...March, KM. .
.J3,n!3,31l.lill
. I'ilti.L'i.'li'.l
rec-K uf l.oinlua over New
01 k $733.!t.17.97
These linuvs show that Cleveland's
administration seems to have decreased
business in New York $;H4.:!Ml.StH In one
niii.lh in IS'.'ti, from what it was in tile
corresponding month in"ls!C, and at the
same time It increased in London $:':!,-3L-I.7I3.
They also show that In March, 1X12.
the business of the New York Clearing
bouse exceeded that of London by 4IS,
'.r:;.ii:'l. while in March. the London
house exceeded New York by $7l'.VJG7,
'.'7. Is this what our business men
want'.' Is it what our voters want' Is
it what any true American wants?
flow Cliniigci of Administration
Alleet Our foreign Commerce.
The report on linance and commerce
for IMi:,, piiKe 31, contains tables giving
the amount of fniiliru commerce wh
car from issi to lS'.iri. In the following
table we give figures from this report
for the last four presidential terms, be
ginning with Oarlield and Arthur's, lxsl
to ivs:,:
Year.
.'
T-vl-Mt
" "'"
Time yi-m-s Jlurlson, iMVi-Vl""!"'.".""!!i
Tl.iee years Cleveland, IMM-'.lj
From tht-se fables we learn the follow
ing facts: The exports during Cleve
land's first term were $383,430,311 less
than they were (luring Carlield and Ar
thur's; the imports were tlL'S.M.'tii
less; ou total foreign trade was $511',
3i:2 773 less.
During Harrison's administration our
exports were $C.Sl,i::6.7H more than they
were during Cleveland's first adminis
tration; our imports were J.'i77,ri2a,372
more; our total foreign trade was $1,
SlX.firr.OXfi more.
We observe also another Important
fact, and that Is, that during the first
three years of Cleveland's present ad
ministration our exports were $335,21?,
711 less than they were during the last
three years of Harrison's administra
tion; our Imports were $20R.2t'.3.r.'i8 less;
our total foreign trade was $433,507,239
less.
These are farts that the voters of this
country should consider carefully be
fore election. An active foreign com
merce indicates prosperity, and a dull
foreign trade, business depression and
low prices.
The Production, Value nit id Average
Price of Wheat During the Last
Tour Administrations.
The statistical abstract for 1S9."( con
tains a table giving the production of
wheat, value of the crop, and the av
erage price per bushel, each year from
1872 to 189."). The following are the
facts concerning the last four admlnis
. tratlons aa Indicated in this report:
Tfrm.
Garfield and Arthur W1-H
. Cleveland , tsss-to
Harrison - 1RS9-9S
Three years Harrison Isiw-M
Three years Cleveland 1893-96
. These figures show the following Im-
portant facts: That during Oarfleld
and Arthur's administration the pro
duction of wheat was 134,789,720 bushels
more than It was during Cleveland's;
the value of the crop was $330,586,684
more: and the average price per bushel
Was 14.135 cents more.
The production of wheat during Har-
rlson's administration was S31.024.000
bushels more than It was during Cleve
land's; the value of the crop was $227.
442,577 more; yet the average price was
. only 1.65 cents less per bushel
Again during U hut three yean of
ICAN vs. ftEMOCMCY
Harrison's administration the produc
tion of wheat was 203,08,912 bushels
more than It was during the first three
years of Clevi hind's present adminis
tration; the value of the crop was S49'l.
34r,st:! more, and the uverage mice per
bushel was 25.434 cents more.
Now if tills gri'at discrepancy can be
neoennp-d for In any other way than by
the d'ffercnce in the policies of the
Democrats and Republicans in regard
to money and tariff, we would like to
know it.
The Production nnd Value of 4'oru
During Diliercnt Administration.
The statistical abstract of the I'lilted
Stales for 1"!",, on page 29S, contains
stati iiienis of tlie production of coin
each Var from 1S72 to 1895, together
with the value of the crop and price per
bushel. An examination of these tables
from ISM, beginning with Oarfleld and
Arthur's auministratoln. to 1895. shows
the following facts during four presi
dential terms:
Terai.
(lartii Id and Arthur....
Cleveland
Harrison
Three years liurrison
Three years Cleveland
Year.
.ism -sr.
.lMCi-89
.ls.vH-93
.IS9H-93
,IS'J3-9'i
These figures show that although the
production of the corn crop during Oar
field and Arthur's administration was
8S7.032.005 bushels less than during
Cleveland's first term, the value of the
crop was J272.4S2.410 more.
Again, during Harrison's administra
tion the corn crop was estimated ut
245,912,00,) bushels more than during
Cleveland's first term, and the valuu
of the crop was $201,284,158 more.
During the last three years of Harri
son's administration the value of the
corn crop was $.'l9.1tT.41l more than
during the first three years of Cleve
land's present administration. The
average price of corn per bushel durint;
Oarfleld nnd Arthur's term was 47.55
cents a bushel. The price decreased
11.58 cents a bushel during Cleveland's
llrst term. It increased 2.6 cents In
Harrison's term over that of Cleve
land's; and during the three years of
Cleveland's present term the average
price was 7.13 cents less than that of
the lust three years of Harrison's; yet
tlie production during Cleveland's three
years has been 195.1S3.237 bushels less
than In Harrison's, which should nat
urally have made the juice higher.
StntiMicnl Report ('oiircrina the I'ru
iliii'tion mid Value of Onfs During
Different Administration).
Tlie production of oats dining the ad
ministrations of Ourlteld und Arthur,
Cleveland, and Harrison, with the last
tlife years of Harrison's Hiid the llrst
three years of Cleveland's piesent ad
ministration, was us follows:
Term. Year.
Oarlield and Arthur lssl-85
Clevi land P-SVS9
liurrison v bS9-9i
Three ymirs liurrison 1S9H-9I
Three years Cleveland N93-9i
Increase of production In Cleveland's
over Oartield und Arthur's wus 555.233,
990 bushels: Harrison's over Cleve
land's, 59,tiij9.0(i0 bushels; llrst three
years of Cleveland's over last thr-e
years of Harrison's was 302,285,315 bush
els. The Increase In value of onls during
Cleveland's term over Ciaiiield and
Arthur's was $37,148,094; Harrison's In
crease over Cleveland's was $73,501,552;
the last three years of Harrison's over
the Hrst three years of Cleveland's pres
ent administration was $97.56)1.284.
While the production of the oat crop
(luring Harrison's was only fi9.G09.no'i
luishels more than it was in Cleveland's
first administration, the value of the
crop was $73,5ul,f52 more. While the
production during the last three years
of Harrison's administration was 202.
2S5.315 less than during the first threw
years of Cleveland's present adminis
tration, its value wus $97,566,284 more.
The average price of oats during Our
fleld and Arthur's term was 6.85 cents a,
bushel more than In Cleveland's. The
uveinge price during Harrison's term
was : cents more than in Cleveland's
first term; during the Inst three years
of Harrison's It was 7.97 cents mote
than during the first three years of
Cleveland's present term.
Incrcnsc nnd Decrease in the Nuui
her nnd Value of Micen I'tider Ke
piiblicau uml I niter Democratic Ad
ministration. Tlie following table gives the number'
and value of sheep during the first and
last three years of each of tlie last four
Kxportn. Imports. Total.
$:'..2l7.27J.i;il $.'.7".1.1s2.Mi9 $:,.97."i.4.. ri3
2,s::;!.s."2.w. 2.629.2Hi.:;47 fc.na.iw.cm
3 . '.I l.'lVl.'ll 7 :!.i.7ll,719 li.72l.749.'i
2.772..7.te)2 2.4l.ii2!i.lM 5.334. .'I'i.T".)
i,.VI7,3l;i,9:il 2,2'i3,:i.-,5i'9 4."",7"9, 14m
presidential administrations; tsee sta
tistical abstract for 1895, page 302.):
Number Value of
Year. sheep. sheep.
Oarfleld and Arthur-
issi
lSSi
..43.5ii9.S(rt
, . .3(626,4211
$!"l.(i7ft.7.Vi
I19.9n2.7mi
Increase 7,056,727 $15,831,917
Cleveland
50..VA243- $10-..9i:il.n47
1SS9 43.544.7Sw X9.279.92.;
Decrease .
Harrison
!8S9 ,
1893
Increase
6,815,488 $18,680,739
42.599.ij97
44,93n.3ii5
$11,010,369
116.121,290
.... 2,339,280 $25,480,921
Cleveland
1W3 47,27.1..i5! $123.fi9.2l
1896 38,298,7S3 65,167.735
Decrease
8,974,770 $60,741,529
It will be seen from these figures that
while there was a gain in the number
of sheep of 7,056.727 and In their value
of $15,831,947 during the four years of
Garfield and Arthur's administration,
there was a loss of 6.815.488 In the num
ber, and of $18.6S0,730 In the value, dur
ing Cleveland's first administration.
Notice again, this table shows a gain
of 2.339.286 in the number of sheep and
$25,480,921 In the value, during Harri
son's aiHninistratlon: but there has been
a loss of 8,974,770 in the number, and of
Production.
In bushels.
1.821.316,72)1
1S.i.r.27.KM
2.17.351.mO
l.r.'.S,991,0(i0
1,323.902,088
Average price
per bushel.
$0.9075
.7'i25
Value.
$l,15.94,0fil
1,2W.4l(7.4)
1.512.819,997
1.17".3.-.?,270
677,012.404
.51266
$60,741,529 In the value, during the three
years of Cleveland's present adminis
tration. In the raising of wool there Is. of
course, a corresponding decrease. The
Wool association computes the yield of
wool for 1896 at 272.474.70S pounds, or
76.063,430 less than that of the spring of
1893.
The average price of word May 1. 1891,
was 22.71 cents, and It Is now 12.16 cents
per pound. The value of the yield of
wool In 1893 was $79,143,011, and the
value In 1896 Is $33,132,424, showing a
loss of 146,000,000 to the wool grower.
1
Which Shows
Commitryo
The titled or t'haugo or Adiiiiiiistrn
lion on Agricultural l.iport.
The reports on foreign commerce nnd
navigation for June 30, 1895, on pages
86 and 87. contain tallies giving the -x-porls
of I he h ading products of domes
tic agriculture for each year from 18(i5
to 1x95. From these tables we uuote the
following concerning the exports of
agricultural products during the differ
ent Republican and Democratic admin
istrations from 1881 to 1896:
Term. Year. Kxports.
Oarllel.i and Arthur.. lxsl-S5 $2,34B..Vi5.5t7
Cleveland TK.N.-..NH 1.9I4.33H.522
Harrison ISX9-93 2.4113,323.951
Last 3 veins of llarrl-
eoii 1SW-93 1.961,271.616
IjisI 3 years of Cleve-
land lS'.i.l-9'i 1,670,491,429
These figures show Hint our exports of
agricultural products decreused during
Cleveland's first administration from
what 4 hey were In Oartield and Ar
thur's $402,169,025. They increased dur
ing garrison's administration over
Cleveland's llrst term $518,9x7.439. Dur
ing the last three years of Harrison's,
Production Value crop. Average value
6.1.".8.."v!:i.9:ri $2.8l2.l3ii.;i 47.55 cents.
7 iM'i ."'is ih :!,.";.(; iCi.sso 36.975 cents.
7' "9I.4SU.I; 2.S3M.93M38 39.575 cents.
5.17s.:.ii'i 2.233.1119.309 43.33 cents.
4,9s3,40l.7'Ki 1,713,853,895 36.2 cents
! they were $290,780,217 more than they
were during tne nisi tnree years 01
Cleveland's present administration.
Total Value of I'm in Animals During
I our Diliercnt Administrations.
The statistical abstract for 1S95, on
page 3os, contains a table giving the to
tal value of farm animals each year
from 1S70 to 1S96. An examination of
tliis talde shows u change in the valu
ation of farm animals during the four
different administrations from 1881 to
1S96, us follows:
Presldnl.
Garfield and Arthur
isst
1SS5
Increase
Cleveland
1SS5
1889
Total value of
farm animals.
$1,721,795,253
2,467,868,924
.... 716,073,672
...$2,456,428.38.1
....2.409.013,418
Decrease $47,381,965
Harlson
IV 9
1S93
1 iccrease
Three years Harrison
IS90
193
Increase
Three years Cleveland
s'.
k.96
..$2,507,050,058
.. 2,461,755,698
. $15,294,361)
.$2,418,766,028
. 2,461,755,698
. $12.9S9,70
.$2,is:l.5ii;.6sl
. 1,727,926.084
Decrease s.... '5..,597
It seems from these figures that the
total value of farm animals during Gar
field und Arthur's administration in-
i'lodiictlon Average value
In bushel. Value crop. per bushel.
2.li59.iS2.llll $724,715,736 36.07 cents.
2.61 I.s:io.iiii 761.S9:.SL'0 29. 12 cents.
2.1.74. .".ii"..ml 8'!5.395.372 32.12 cents.
I.S'-'.l.of'O.iioo i;c;,6I4.34 35.2 cents.
2.125.335,315 5tM.01S.0S0 27.23 cent.
(reused $746,073,672; during Cleveland's,
it decreased $47,384,965. The decrease
during Harrison's term was only $2.
09U.605 less than during Cleveland's first
lei in, und the three years of Cleveland's
last term II decreased $712,590,927 more
than it did (luring the lust three years
of Harrison's.
These facts are very significant nnd
give an Indication as to how the policies
of the different purtles affect the valu
of farm animals.
How Clinngcs ol' Administration Af
fect (he Value ol' Horses, IHulcsund
Hihii Cows.
In the statistical nbstract for lWt, R
pages 307 and 3us. are tables giving the
estimated value of farm animals each
year from ls7o In IS96. During tlie last
four presidential terms tlie following
facts are obtained:
Presidents. Value of Horses.
Garfield and Arthur
ivsl
4SS5
....$667,951,325
.... 833.744,400
....II'm,7W.075
Increase
Cleveland
18X5
18S9
Increase
Harrison
I smi
lsW.
Increase
CleVelalld-
193
1S96 ,
...s"t!.2S2.947
... M6.H96, 154
... 93.913,207
.. $92,194. 827
..I,0o7,5u2,63ti
.. $25,3(18,809
..$992,225.18".
.. iiM,l4.l86
Decrease In three years $132,084,999
Presidents. Value of .Mules.
Oarlield und Arthur
ISSI
...$120,096,164
... 161,214.976
... $41,118,912
...$162,497,097
... 174,853,563
... 12,356,I66
1SS5
Increase
Cleveland
's:. 189
Increase
Harrison
isy.
1S93
I'ecrrase
Heeelund-
1X9.1
1SJ6
.$179.44 1. 1st
. 174,Sv2.o7il
.. $4,562,11'.
..$164,763.7",!
.. M3.204.457
Dcoreiise In three years ...... $61,559,204
President. Value of Milch Cows.
Garfield ami Arthur
vit
$2,'..277.,i6n
423,1X0,649
lSb5
lncreaise
Cleveland
18X5
1889
Decrease
1 1.irrison
lxs
1893
Decrease
Cleveland
1X91
18911
,.$127,2'J,5S9
,.$412,903.1193
. 766,252.173
.... $46,650,920
....$2,16.226.376
.... 351,378.132
... $14,848,244
..$357,299,785
... 261,9.i5.545
Decrease in three years $93,344,240
Increase in Itniirond Mileage.
During twelve years, from 1881 to
1S92. this country built over 81,000 miles
of new railroads. The number built
during three administrations were as
follows:
Oarfleld and Arthur ,...181-S5 J32."3
Cleveland Iswi.it 30 79O
Harrison 1S89-93 li12
Annual averai;e.
GnrfleM and Arthur ixxi-s5 ivn
Cleveland Ixs5,89 7 i7
Harrison 1859-93 4.753
Cleveland's present administration .. 2,039
This wonderful progress made In
building railroads during Carre Id and
Arthur's administration Immediately
followed the resumption of specie pay
ments In 1879. Kery department of
business In this country was prosperous
so long as the industries wene amply
protected; and the revenues of the gov
ernment were such that a portion could
be applied annually in reducing the
public debt.
The election of Cleveland In 18S4 and
the attack on the tariff destroyed confi-
dence. demoralized business and causcl
a lowering of prices of products. Had
both houses of congress been controlled
by his party at that time, similar catas
trophes would have followed his acces
sion to office that have taken place dur
ing the Inst two or three years. Is it
not evident that what the country now
needs to restore It to prosperity is to
protect the industries und give assur
ance of a sound currency?
Decrease in the Kusiness of Our Unil
roads. .
The statistical abstract for 1895 con
tains tables giving the mileage, earn
ings and business of our railroads in
1892 and 1895. From these tables we
obtain the following facts, which indi
cate the great falling off in business!
that has taken place in that period:
Net Receipts
Net from
Miles Ouerated. Kaniinirs. Freight.
1892 170.668 $35x.li3x,5-'0 $79l.526.5()
18. 179.8X7 327.5o5.716 743..S4.4JI
Increasa .9,219
$31,132,801 $50,742,019
- Decrease.
Net Itceelpts,
. from
Passeneer.
1X92 J293.557.476
1X95 261.6IO.59X
Passengers
Dividends. Carried.
J'.if..(.ii2.4l3 575.770.00.1
83.175.774 u43.9T4.363
$31,916,88 $12,186,638 31,795,737
Tons of Miles of
freighl road built.
1892. . . .730.605.MiO 3vears, Harrison, 13.628
1895.... 763,797,8X1 3 ytsirs.Clevelaiul, 6.0SU
lncr'se 33,192,831
Decrease.
7,548
From these figures we ascertain that
while the railroads of the country have
increased 9,219 miles between 1892 and
1895, the net earnings huve dcci eased
$31,132,804; the net receipts from freight,
$50,743,049; the receipts from passen
gers, $31,916,878; the dividends $12.4X6,
638; the number of passengers carried,
31.795,737; while the freight carried has
increased 33.192,881 tons.
The Inst three years of Harrison's ad
ministration the number of miles) of
rnilioads built in this county was 13,
628, an average of 4,543 per year, while
the number of miles built during the
first three years of Cleveland's present
administration was only 6.0X0 (an aver
age of 2,027 miles per year), and a tl -crease
of 7,548 from the lust three years
uf Harrison's administration.
Decrease in Freight Kates.
The statistical abstract for IS93, on
page 331, contains a table giving the
freight rates of wheat and other grains,
'from Chicago and Buffalo to New York,
from which we learn that In I860 It cost
to send a bushel of wheat from Chicago
to New York by lake and canal, 21.8,1
cents; in 1892, 6.61 cents a failing otl
of 19.22 cents a bushel.
The cost of sending wheat from Chl
cngo to New York by lake and rail in
1868 was 29 cents a bushel; by all rail,
42.8 cents per bushel. In 1892. at the
close of Harrison's (administration, the
cost by lake and rail was 7.55 cents, by
all rnll, 14.23 cents. These figures show
a falling off In the freight rates bv lake
and rail, since 1868, of 21.65 cents a
bushel; and by all rail, of 2S.37 cents.
The freight rates have decreased since
1X92. by lake and canal, 1.5 cents a
bushel, by lake and rail, 0.0 cents, and
by all rail, 2.06 cents.
Increase in Production ol'SlerlKail.
Tlie following table states the produc
tion of steel rails in this country during
the four different administrations from
18S1 to 1895, which Is as follows:
Production
Trm. Year. In tons.
Garfield and Arthur ...1SS1-S5 H.14:l.x97
Cleveland IXX5-X9 15.828.66 1
Harrison 18S9-92 32.436.912
Two years, Harrison. ..1X91-92 16.131. ,S9
Two years, Cleveland. .1x93.94 13,809.421
Cleveland 18x5-89 15.X2X.66I
Oarlield and Arthur... .Ixsl-xj lo.143.897
Increase
Harrison
Cleveland
5.6X4.767
32J36.922
15,828.661
.1XS9-93
.1885-89
Increase ln.6o8.25H
Two years Harrison ..1x91-93 16,131,7x9
Two years ot Clevelundl893-95 13.809,424
Decrease 2,322,365
It will be noticed from the abov thut
while the production of steel rails dur
ing Cleveland's first administration in
creased only 6,684.767 tons over that of
Oarfleld and Arthur. In Harrison's tt
increased 16.1.11.258 over that of Cleve
land; during the lust two years cf Har
rison's there were 2.322.365 .tons more
of steel rails produced than during the
first two years of Cleveland's present
term.
Increase in Telegraphic Lines in the
I nited State and Decrease in Kates.
The statistical abstract for 1895, on
page 322, contains u table giving the
number of miles of telegraph lines,
number of messages, receipts, profits,
cost per message and profit per mess
age from 1867 to 1895. From this table
we obtain the following facts:
.Vile
of
No.
Mes-
Re
ceipt. $6,f,925
7,001.01.5
23.7"6, Ut.
22.218.019
Year.
1S67 .
IS6X ..
1X92 ..
1X95 ..
ire.
. 46.270
saees.
5,859,2X2
Profit.
$2,621,920
2.641.711
7.39X.5I8
6.I41.3S9
, 50,1 S3
1; 4mj .v.:.
..1X9.576 62.3X7,298
..189,714 58,307,315
Cost lier
Profit per
.Message,
Cents.
41.3
11.9
10.5
Message,
War. Cents.
1X68 63.4
1X92 22.3
1895 22.3
From these figures it will be seen that
the number of miles of line increased
from 1X68 to 1892, 1:19.393; the tiutiili -r
of messages sent Increased 55.9S2.VO:';
the receipts increased $16,702,310; the
profits Increased $4,756,837; while the
average cost per message has decreased
41.1 cenls und the profits fa r message
29.4 rent.
It will also be observed that from 1802
to 1895 the number of miles of line has
Increased 138; the number of messages
has decreased 4.079.983; the receipts
have decreased $1,488,3x6; the profits
have decreased $1,257,359; the cost per
message has increased 1 cent; the profit
per message has decreased 1.4 cents.
These facts show the depressing ef
fect thntthechnngeof administration in
1892 has had unon the telegraphic bus
iness. The falling off of 4.079.982 in the
number of messages sent, and the cut
ting down of the profits $1,257,159. while
at the same time they have adi'.td 13S
miles of line to their plants, is a sig
nificant Indication as to what effect the
destruction of business consequent
upon the effort to secure free trade ami
lines. The total public telegraphic
lines. Thi? t otal public telegraphic
mileage of the I'nited States is ov-?r
210.000. besides railway, government
and private lines, the length of which
is not ascertainable.
Increase in !iiev Circulation ler
Capita.
There are a large number of peonle in
this country who believe that the pre
vailing hard times and business dis
turbance are due to contraction of the
currency. They claim that the act of
1873 which suspended the coinage of the
standard silver dollar has been the
ir.'.'ans of lespening the volume of
money, thus increasing the value of
gold and greatly injuring business.
Such people are controlled by a theory,
and ignore the facts which prove their
theories false.
The Finance Reports for 1891 and the
monthly reports on Flnace for 1895 con
tain tables that show the population
and the amount of money per capita in
circulation from I860 to 1895. From
these tables we copy the following:
Circulation
Circulation
Year. per capita. Year. per capita.
ism..
....$13.85
18x5..
...$23.02
1S'.2...
is:,.
1870...
1x73...
1878...
.... 10.23
.... 2'i.57
.... 17.50
.... 18.19
.... 15.32
W0...
1892...
1891...
1X91...
1895...
21.82
21.44
25.57
, 23.72
22.61
It seems from these figures that In
186'). before the war. the per capita cir
culation was $13.85; In 1862, after the
nar was fully Inaugurated, and before
the legal tenders were Issued, the per
capita circulation was reduced to $10.23;
in 1865. after the close of the war. the
per capita circulation went up to $20.67.
There was auto, at the close of the
war, a large amount of one-year, two
year, and three-year notes, 'cumpouud
interest notws, and seven-thirty notes,
that were legal tender, which tempor
arily served the function of money;
but. as they were all Interest-bearing
obligations, and all redeemable within
three years after issue, they were taken
out of circulation very soon afttr be
ing issued, and were held by banks,
saving banks and trust companies, as
investments. After the war closed, tne
government immediately began to re
fund all these Interest-bearing obliga
tions Into bonds bearing a lower rate of
interest, and at the same time began
to withdraw the legal tender notes from
circulation, for the purpose of getting
to a specie basis,
I'nder this process the circulation per
capita decreased from $20.57 in 1X65 to
$15.32 per capita In 1878. The act of 1878
prohibited the retirement of any more
legal tender notes, and from that time
the circulation per capita began to in
crease utnil it reached $23.02 per capita
In 1X.X5. the year Mr. Cleveland' was llrst
Inaugurated President. The next year
It fell oft to $21.82 e r capita, but from
thut year it gradually Increased until
November, 189.1. when It reached $25.57
per capita. Since that time it has fal
len on' until In November, 1895, It was
only $22.61 per capita.
On pages ISO and 181 of the Finance
Reports, before referred to, is found a
table giving tlie per capita circulation
of gold, silver and paper in each of the
principal commercial countries of the
world. The per capita circulation in
the Cnlted States Is given as follows:
Gold, $9.09; silver. $9.08; paper, $6.90.
Total per capita, $25.07.
There are only three countries In the
world that have ns large a per capita
circulation of money, and but three
that huve as large a per capita of sil
ver as the I'nited States. Is it not
evident that there Is still plenty of
money to transact all the business of
the country, as all of this money Is at
par with gold?
The Coinage of (iold nnd Silver.
From the ime the United States
mints were organized, In 1793, to June,
1895. there has been coined of gold $1,
755.813,763, and of silver, $685.1)23,701.
The excels of the coinage of gold over
sliver has been $1,070,790,062; 431,320.
457 standard silver dollars have been
coined, or represented In certificates,
and $35,965,924 in trade dollars.
From 1793 to 187.1 the coinage of silver
was free and unlimited. Previous to)
1873, only 8,031,238 standard silver dol
lars .had been coined.
' The act providing for the coinage of
the trade dollars was In operation from
187.1 to 1877; under this act, more than
$75,000,000 In silver, Including fractional
currency, was coined during the four
years.
I'nder the Compulsory Coinage act of
February 28, 1878. and subsequent acts,
there have been 423,289.219 standard sil
ver dollars coined, or silver certificates
representing them Issued.
There huve been more than fifty
times as many standnrd silver dollars
coined during the eighteen years since
the Compulsory law of 1878 as were
coined during the eighty years previous
to that time.
The average price of sliver In Lon
don was only $0.7383 (for four months
ending October 31. 1893); In New York.
$0.7350. On June 30, 1893. tin price of
silver was down to $0.6105 an ounce.
The silver In the silver dollur Is now
worth about $0,498.
It will be noticed from these figures
that, notwithstanding the coinage of
silver has enormously increased since
1S73, the price of silver In the market
has gradually declined. Such being the
fact. It Is inevitable that If the coinage
of silver became free. It would change
the standard from gold to silver, a
change of value of almost one-half. If
such a policy were ndopted suddenly.
It is absolutely certain thut it would
cause one of the most gigantic panics
ever known in the history of the world.
Male of (iold by the I'nited States
iovernnient.
As soon as the war was over gold
began to accumulate very rapidly In
the Treasury, und being at a premium.
Congress ottered to sidl all the gold not
feeded: these sales began July 20, I860.
und continued until December 31, 1878. a
little over twelve years. The gold sold
(luring that period amounted to $520.
5o6.273.81, and the amount of premium
derived from these sules was $106,827.
815.86: the average premium being
20 3-10 per cent. The highest price at
which gold was quoted during the war
was 285 per cent., which occurred July
II, 1864, ami the lowest quotation was
one sixty-fourth of 1 per cent., Decem
ber "0, 1878. The premium disappeared
on the resumption of specie payments
January 1, 1879. On the 2d of January.
1879. the Treasury Department began
to redeem Cnlted States notes In coin
at the sub-treasury, tin the first day
of resumption there was more gold re
ceived into the treasury than was paid
out. The same took place for seteral
days a lier.
The reserve In the treasury for re
demption purnoses on December 31.
1878. wus $126,464,332.24: otl October 31.
1879. It was $151,047,044.24, showing an
Increase of $24,582,712 In ten mouths.
If the revenue had been kent at the
same standard ns In 1879. the govern
ment would huve continued to accu
mulate gold until the entire public debt
was paid.
The Itullion Value of flic Silver Dol-
Inr. i
In the Report rf the Director of the I
mint for 1895, on page 210. Is found a j
fable giving' the bullion value, or the
Value In gold, of :i7Pi grains of pure !
silver, the amount In the standard sil- 1
ver dollar, for each year from 1837 to
1X95. Inclusive. .We quote in part as
follows
Year. Year.
lx.17 $l.fio9 1S4X $l.oo(
1X38 I.011X 1S50 J.11IS
1810 1.023 1X52 1.1125
1X53 1.013 1X76 X94
K.7 1.046 ISM xx.1
1x59 1.1152 18X3 X5S
1X62 I.oll lxso s.19
1")i6 1.036 1x92 i;73
1X73 I.1104 1S91 . fit
1874 998 1S95 in",
These variations and fluctuations
have arisen from various causes, one
of the most important of which Is the
Increase of production without corre
sponding Increase of consumption,
Prodncliou ol'Gold nnd Silver.
From 1793 to 1873, this country pro
duced $l,070.3.l6.769 more of gold than
of silver. Since the year 1878 we have
produced $370,400,000 more of silver
than of gold.
In the year 1859 an nunc of silver
was worth $1.36 In gold. When silver
is at par with gold coin, on a ratio of
16 to 1. one ounce of silver Ij worth
$1.2929 in gold.
In 1859 only $100,000 worth of silver
was taken from the mines of the I'nited
States, while in the year 1873 there was
$35,750,000 of silver obtained from the
su me.
In 1853 there was $05,000,000 of gold
obtained from the mines of the I'nited
States, while In 1873 there was otilv
$36,000,000. n 1874 there was $33.500.0oO
of gold produced, and $37,300,000 of sil
ver. This was the first year In the his
tory of the country when the produc
tion of silver surpassed that of gold.
Siinje 1879 silver has surpassed gold In
production every year. In 1892 the pro
duction of silver In the I'nited States
was more than $82,000,000, whll" the
production of gold was about $33,000,
000 Now 'consider the effect that this
enormous production of silver has had
upon the price of this .metal. In 1V73
the price of an ounce of silver was $1.
298: in 1878. the year that the Compul
sory Coinage act went Into operation,
silver had declined to $1,152. and has
gradually depreciated from that time
to the present. In 1885 it was worth
only $1.0645; the following year It was
only $0.9946. In 1894 the vnbie of a fine
ounce of silver was only $0.63479.
Although the total coinage of stiver
In 1873' was only $4,024.747.60. while in
Continued on Page . 1
413 Lackawanna Ave:
THERE'S MORE THAN ONE REASON!
For the steady stream of buyers coming
here. Our styles are the latest and best
ever shown in this city. Our prices are
in many instances lower than other stores
can buy at wholesale. We do a large
business supplying stores and milliners.
SPECIAL BARGAINS THIS WEEK
Trimmed Hats
Trimmed In very latest style, fine ma
terials only, every one a beauty at
$1:9. $3.48, $2,981, $3.98
Would positively cost double the
money at any other stora
Untrimmed
Felt Hats
Tn nil the newest shapes, every stylo,
and Quality,
9C. 39c. 45c, 73c, 98c
Every one worth double.
HATS TRIMMED FREE.
413 Lackawanna Avenue.
C'jR1?LEX!0.1 BL:H115HES
Mny be bidden iui:erfoctly by cosmetic and
powders, tut can ouly be removed perma
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HETSEL'S SUPERIOR FACE BLEACH.
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E. M. HETSEL'S
330 Lackawanna Ave., Scranton. Pa.
1 GREAT SLUMP
IN
1 m m
Has been predicted all through the
seaxin lust past. THIS IS THE WAV
HU.MBIiKS HAVE IlKl.N HI'ULCIiU.
'96 Price. '97 Price.
Roadstsr, $110.00 $115.00
Tourist, 112.50 117.50
Lady Kumbsr, 117.50 122.50
Racer, 125.00 150.00
Prices scum Iiih, but then you
know it's IIL'.V.BLK QUALITY.
CHASE & FARRAR
515 Linden Street.
AYLESWORTH'S
MEAT MARKET
Tlie Finest in tlie lit).
The latest improved lurnisii
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meat, ItittiT unJ cs.
223 Wyoming Avenus.
- .
The St. Denis
CrcsUway and Eleventh St.. New Vo'k,
Opp. Urace Church.-tiurnpeart Plan.
Rooms $1.00 a Day and Upwards.
n a modeit aid uno'.tnisivj way th-r ar
f-w btttur coratactud uotclj in thi uietropolj
tl'. in the St. Ueui.
The trtut p..pu arity it h s acquired can
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linm.'iik" :itin-.:f.:i-r. tao vrculitr u--eilence
ut lis cuMue and survicu, sad Its very iuudep
ate pr.ct-s
WILLIAM TAYLOR tliD SON.
Thrrm liny t-mweirs iw
"wMrli I op-Urn. t.V"y
bebe nil Infections fall. V
Ostrich Feathers
Ostrich Plumes, fine quality, rich,
glossy black and all colors, at
19c. 19c, 37c, 48c. 75O
Worth more at wholesale.
Birds and Wings
loc. iac, 13c. age. 37c, 480
In all colors and newest styles. Would
cost double elsewhere.
New Veilings
In today.
8 JS. 33 ! 40 Cents a Yard
Ribbons
The largest stock In town In every
Btyle and quality, every color, at l
nioat half the prices other stores auk.
ON'
as, as? a
MANSFIELD STATE NOKflAL SCHOOL. .
Intellectual and practical training for
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pruparatloii fur college. Students ad.
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Thirty graduates pursuing further studies
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any time. For catalogue. Containing full
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S. II. ALBKU, Principal,
Mansfield Pa.,
And You Will ba Happy.
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119 WASHINGTON AVEML
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1 1