B ' ' • - • * , • " ' ' •
Trmrtiiwrintfii'in' 1 1 i.L _ ,
ms ' 1. BLAISE'S SPEECH ,
fly
| f { FULL TEXT OF THAT MDCH QUOTED
Pf | AND DISCUSSED DOCUMENT.
I' ' It
fctJaW * liE WAS FOR SOUND MONEY
HwVfltrV ' * Wa' Delivered In tlie United Statef
HlL-CCJ I ' Ecnate February 7 , 1K7H , and Was
BKXr j \ Agaltut tlio Free Coinage of b'U *
" ver at 10 to 1 The Ameri
can Follvy Powerfully
uud Clearly Stated.
The .following is the much quoted
I Speech in full delivered by James G. '
I Blaine in the United States Senate
I \ .February 7. IS7" < , in opposition to a
I House bill for the free and unlimited
coinage of silver at 20 to 1. The com *
xnercial value of silver at that time
was 92 cents per ounce :
Air. President : The discussion on
> the question of remonctizing silver has
been prolonged and exhaustive. I
may not expect to add much to iti
. Talue. but 1 promise not to add much
j to its lenjrth. I shall endeavor to con
sider facts rather than theories , to
slate conclusions rather than argu
ments.
1 believe gold and silver coin to bo
> the money of the constitution indeed ,
\ the money of the American people
A anterior to the constitution , money
" "which the organic law of the republic
recognized as independent of its own
existence. No power was conferred
on Congress to declare that either
metal should not be money. Congress
lias , therefore , in my judgment , no
l more power to demonetize silver than
. to demonetize gold ; no more power to
1 demonetize either than to demonetize
both. In this statement 1 am but re
peating the weighty dictum of the
liist of constitutional lawyers. "I am
I certainly of the opinion , " s.aid Mr.
v Webster , "that gold and silver , at
• rates lixed by Congress , constitute the
legal standard of value in this coun
try , and that neither Congress nor any
ctnte has authority to establish an } '
other standard or to displace this
i standard. " Few persons can be
found , I apprehend , who will main
tain thavCongress has the power to
demonetize both gold and silver , or
f that Congress could be justified in
prohibiting the coinage of both ; and
yet in logic and legal construction it
would be difficult to show where and
\ why the power of Congress ever silver
is greater than over gold greater
over eitner than over both. If , there
fore , silver has been demonetized , 1
; am in favor of remonetizig it. If its
coinage has been prohibited I am in
favor of ordering it to be resumed. If
it has been restricted , lam in favor of
ordering it to be enlarged.
What power , then , has Congress
over gold and silver ? Ithas the ex-
\ * elusive power to coin them , the exclusive -
! sive power to legulate their value
) < ver- great , very wise , very necessary
; , power , for the discreet exercise of
which a critical occasion has now
arisen. However men may differ
about causes and processes , all will
admit that within a few years a great
disturbance has taken place in the
relative value of gold and silver , and
that silver is worth less or gold is
worth more in the money markets of
the world in 1S7S than in 1873 , when
the further coinage of silver dollars
was prohibited in this country. To
remonetize it now as though essential
conditions had not changed , is will
fully and blindly to deceive ourselves.
j Rjfcf If our demonetization were the only
lM j/ ! { cause for the decline in the value of
Rlu ( silver , then remonetization would be
R wn its proper and effectual cure. Hut
B T other causes , beyond our control ,
J P i } ' i have been far more potentially opera-
*
Wti ' $ & % tiye than the simple fact that Con-
.SjsVr gress prohibited its further coinage.
jSS | b * As legislators we are bound to take
w | 'M ' ) cognizance of these causes. The de-
'S& t roonetization of silver in the German
IBSj llj empire and the consequent partial ,
Jj | { 8)j or well nigh complete , suspension of
Sfvffv coinage in the Latin union , have been
K pfey' the leading causes for the rapid de-
S& > > i\tf \ cline in the value of silver. I do not
WM.-/Mt think the over supply of silver has
rnkj ff , had in comparison with these other
*
RReJ P/ causes , an appreciable influence in
ISHBtoyI the decline of its value , because its
mS foVN over supply with respect to gold in
HPwiM 1 these latter years , has not been so
BfcffiffiUl 1 g' - 'u t as was the over supply of gold
iBpfSkl with respect to silver for many years
MS VWj after the mines of California and Aus-
HL { (0 ( v tralia were opened ; and the over sup-
Fit 'Vnjl ply of gold from these rich sources
* did not affect the relative
tK positions
jfcgtl f * - and uses of the two metals in any
I MtStX ) European cun'7.
r BJ8iJ ? Frco Coinage Alone Impossible.
UH v- . I believe , the a , if Germany were to
RSwtiifs 1 remonetize silver and the kingdoms
K ramH nd states of the Latin Union were to
IfUlff reopen its mints , silver would at once
USD * ! resume its former relation with gold.
EPs The European countries , when driven
*
PjHrh to full remonetization , as I believe
WMp JlA they will be in the end , must of neces-
HH ntf * sity adopt theiv old ratio of 15 } of
HBpiV silver to 1 of gold , and we shall then
| re&Mo he compelled to adopt the same in-
B ppy stead of our former ratio of 1(3 to 1.
KK % If we fail to do this we shall , as be-
B H F1 fore , lose our silver , which , like all
H Wmim $ things else , seeks the highest market ;
B HBOpl and ' ' tcen aQd a half ounces of
B HKj ? silver in Europe will buy as much gold
B yg in Europe as sixteen ounces 111 Amer-
Et 'ca' lie S1'ver > ° * course , will go to
H BBr ? Europe. But our line of policy in a
Kryk joint movement with other nations to
/&ESg/ } remonetize is simple and direct. The
B/fglpT difficult problem is what we shall do
B ( when wc aim to ; e-estabhsh silver
fc JjSSrP without the co-operation of European
B Slpowers , and really as an advance
- ' - S movement to coerce these powers into
jL S5i the same policy. Evidently the first
Hr"\d % dictate of prudence is to coin such a
f | Rs ( dollar as will not only do justice
B ® Bf \ among our citizens at home , but will
B7 'i mr prove a protection an absolute barri-
BA JsK cade against the gold monomotalists
Hb "Ssbm ° ' Europe , who , whenever the oppor-
HC 9ft tunity offers , will quickly draw from
m" % % Bm "s the SICO.000,000 of gold coin which
feP ( S\ Tve now 'lo1 ' - we co'n a siver
B3c dollar of full legal tender , obviously
SfT'Wt ? \ below the current value of the gold
' ; VBt\ dollar , we arc simply opening our
I I " " ' ' " ' Kr "I l l " ' J
r i i im niii 1 < ' ) ' " . ' 1 . ' ' " ' " ' ir"n
doors and inriting Europe to take onr I
gold. With oar gold flowing out from J
us we shall be forced to the single
standard and onr relations with the
leading commercial countries of the
world will not only be embarrassed ,
but crippled.
The question before Congress then
sharply defined in the pending
House bill is , whether it is now safe
.and expedient to offer free coinage to
the silver dollar of 4 2f grains , with
the mints of the Latin union closed
and Germany not permitting silver to
be coined as money. At current rates
of silver , the free coinage of a dollar
containing 412,54 grains , worth in gold
about 92 cents , gives an illegitimate
profit to the owner of the bullion , en
abling him to take 'J2 cents' worth of
it to the mint and get it stamped as
coin and force his neighbor to take it
for a full dollar. This is an unfair
advantage which the government has
no right to give to the owner of sil
ver bullion , and which defrauds the
man who is forced to take the dollar.
It assuredly follows that if we give
tree coinage to the dollar of inferior
value , and put it in circulation , wc dose
so at the expense of our better coin
age in gold ; and unless we expect the
invariable experience of other nations
to be in some mysterious way sus
pended Tor our peculiar benefit , we
inevitably lose our gold coin. It will
flow out from us with the certainty
and with the force of the tides. Gold
ha.3 indeed remained with us in con
siderable amount during the circula
tion of the inferior currency of the
legal tender , but that was because
there were two great uses reserved by
law for gold the collection of cus
toms and the payment of interest on
the public debt. But if the inferior
silver coin is also to be used for these
two reserved purposes , then gold has
no tie to bind it to us. What gain ,
therefore , should we make for the
circulating medium , if on opening the
gate for silver to flow in , we open a
still wider gate for gold to flow out ?
If I were to venture upon a dictum on
the silver question , I should declare
that i-ntil Europe remonetizes silver
we cannot afford to coin a dollar as
low as 4l2 } < grains. After Europe re-
monetizes on the old standard , we
cannot afford to coin a dollar above
COD grains. If we coin too low a dollar
lar before general remonetization. our
gold will leave us. If we coin too
high a dollar after general remoneui-
zation , our silver will leave us. It is
only an equated value before and
after general remonetization that
will preserve both gold and silver to
us.
Gold and Silver Must Be Kept Equal-
Consider further what injustice
would be done to every holder of a
legal tender 01 national bank note.
The large volume of paper money in
excess of § 700,000OCO is now worth
between ninety-eight and ninety-nine
cents on the dollar in gold coin.
The holders of it , who are indeed our
entire population , from the poorest to
the richest , have been promised from
the hour of its issue that their paper
money would one day be as good as
gold. To pay silver for the greenback
is a full compliance with this promise
and this obligation , providing the sil
ver is made as it always has been here
tofore , as good as gold. To make our
silver coin even three per cent less val
uable than gold inflicts at once a loss
of more than S2OO00U00 on the hold
ers of our paper money. ! lo make a
silver dollar worth but ninety-two
cents precipitates on the same class a
loss of nearly S6'J,000,000. For whatever
the value of the silver dollar is , the
whole paper issue of the country will
sink to its staudard when its coinage
is authorized and its circulation be
comes general in the channels of
trade. Some one in conversation
with Commodore Vanderbilt , during
one of the many freight competitions
of the trunk knes , said : "It cannot be
that the Canadian railroad has suf
ficient carrying capacity to compete
with your great line ? ' * "That is
true , " replied the Commodore , ' "but
they can fix a' rate and force tis down
to it" Were congress to pass a law
to-day declaring that every legal ten
der note and every national bank note
shall hereafter pass for only ninety-
six or ninetj'-seven cents on the dollar ,
there is not a constituency in the
United States that would re-elect a
man who supported it And in many
districts the representative would be
lucky if he escaped merely with de
feat at the polls.
Yet it is almost mathematically de
monstrable that the same effect will
follow from the coinage of an inferior
silver dollar. Assurances from em
pirics and scientists in finance that
remonetization of the former dollar
will at once and permanently advance
its value to par with gold , are worth
little in the face of opposing and con
trolling facts. The fi-st effect of is
suing any silver dollar that will pay
custom dues and interest on the public
debt will undoubtedly be to raise it
to a practical equality with gold , but
that condition wtil last only until the
amount needful for customs shall fill
the channels of its use ; and the over
flow going into general circulation
will rapidly settle to its normal and
actual value , and then the discount
will come on'the volume of the paper
currency , which wili sink pari passu
with the silver dollar in which it is
made redeemable. That remonetiza
tion will have a considerable effect in
advancing the value of the silver dollar
lar is very probable , but not enough
to overcome the difference now exist
ing a difference resulting from
causes independent of our control in
the United States.
General Remonetization.
The responsibility of .re-establish
ing silver in its ancient and honor
able place as money in Europe and
America devolves really upon the Con
gress of the United States. If we act
here with wisdom and firmness , we
shall not only successfully remonetize
silver , and bring it into general use
as money in our own country , but the
influence of our example will be po
tential among European nations , with
the possible exception of England.
Indeed , our national indebtedness to
Europe is so great that , if we have
the right to pay it in silver , % ve neces
sarily coerce those nations by the
strongest of all forces , self interest ,
to aid us in upholding the value of
silver as money. But if we attempt
the remonetization on a basis which
is obviously below the fair standard
of value as it now exist , we incur ail
the evil consequences of failure at
home and the certainty of successful
1
opposition abroad. We are , and shall
be , the greatest producers of silver in
the world , and wo hare a larger stake
in its complete remonetization than
any other lountry. The difference to
the United Statesbetween the general
acceptance and the general destruc
tion of silver as money in the com
mercial world , will possibly within
the next half century equal the entire
bonded debt of the nation. But , to
gain this advantage , we most make
it actual money , the accepted equal
of gold in the markets of the world.
Bemonetization here , followed by
general remonetization in Europe ,
will secure to the United States the
most stable basis for its currency
that we have enjoyed , and will effect
ually aid in solving all the problems
by which our financial situation is
surrounded.
Bimetallic and Mono-Metallic Standard * .
On the much-vexed and long-mooted
question of bimetallic and monometal
lic standard , my own views are suf
ficiently indicated in the remarks I
have made. . I believe the struggle
now going on in this country and in
other countries , for a single gold
standard , would , if successful , pro
duce disaster in the end throughout
the commercial world. The destruc
tion of silver as money , and the estab
lishment of gold as the sole unit of
value , must have a ruinous effect on
all forms of property except those in
vestments which yield a fixed return
in money. These would be enormous
ly enhanced in value , and would gain
a disproportionate , and therefore
unfair , advantage over every other
spscies of property. If , as the most
reliable statistics affirm , thare are
nearly seven biilionsof comer bullion
in the world , not very unequally
divided between gold and silver , it is
impossible to strike silver out of exist
ence as money without results which
will prove distressing to millions and
utterly disastrous to tens of thous
ands. Alexander Hamilton , in his
able and invaluable report in 1791 on
the establishment of a mint , declared
that * 'to annul the use of either gold
or silver as money , is to abridge the
quantity of the circulation medium ,
and is liable to all the objections
which arise from a comparison of the
benefits of a full circulation with the
evils of a scanty circulation. " ' 1 take
no risks in saying that the benefits of
a full circulation , and the evils of a
scanty circulation , are both immeas
urably greater to-day than they were
when Mr. Hamilton uttered these
weighty words , always provided that
the circulation is one of actual money
and not of depreciated "promises to
pay. "
- TVhat Hamilton Said.
In the report from which I have al
ready quoted , Mr. Hamilton argues at
length in favor of a double standard ,
and all the subsequent experience of
ninety years has brought out no
clearer statement of the case , or de
veloped a more complete comprehen
sion of this subtle and difficult subject
"On the whole , " says Mr. Hamilton ,
"it seems most advisable not to attach
the unit exclusively to either of the
metals , because this cannot be done
effectually without destroying the
office and character of one of them as
money , and reducing it to the situa
tion of mere merchandise. " Mr. Ham
ilton wisely concludes that this reduc
tion of either of the metals to mere
merchandise ( I again quote his exact
words ) , "would probably be a greater
evil than occasional variations in the
unit from the fluctuations in the rela
tive value of the metals , especially if
care be taken to regulate the proportion
tion between them , with an eye to
their average commercial value. " I
do not think that ths country , hold
ing so vast a proportion of the world's
supply of silver in its mountains and
its mines , can afford to reduce the
metal to the "situation of mere mer
chandise. " If silver ceases to be used
as money in Europe and America , the
mines of the Pacific slope will be
closed and dead. Mining enterprises
of the gigantic scale existing in this
country cannot be carried on to pro
vide backs for mirrors , and to manu
facture cream pitchers and sugar
bowls. A source of incalculable wealth
to this entire country is destroyed the
moment silver is permanently disused
as money. It is for us to check that
tendency , and bring the continent of
Europe back to the full recognition of
the value of the metal as a medium of
exchange.
Evil of Inferior Dollars.
The question of beginning anew
the coinage of silver dollars has
aroused much discussion as to its
effect on the public credit The senator - -
ator from Ohio ( Mr. Matthews ) placed
this phase of the subject in the very
forefront of the debate insisting ,
prematurely and illogically , I think ,
on a sort of judicial construction in
advance , by a concurrent resolution ,
of a certain law in case that law
should happen to be passed by Con
gress. My own view on this question
can be stated very briefly. I believe
the public creditor can afford to be
paid in any silver dollar that the
United States can afford to coin and
circulate. We have S4C,000,000,000
of property in this country , and a wise
self-interest will not permit us to
overturn its relations by seeking for
an inferior dollar wherewith to settle
the honest demands of any creditor.
The question might be different from
a merely selfish point of view if , on
paying the dollar to the public credit
or , it would disappear after perform-
inrr that function. But the trouble is
that the inferior dollar you pay the
public creditor remains in circulation ,
to the exclusion of the better dollar.
That which you pay at home will stay
here ; that which you send abroad will
come back. The interest of the pub
lic creditor is indissolubly bound up
with the interest of the whole people.
"Whatever effects him affects us all ,
and the evil that we might inflict
upon him by paying an inferior dollar
would recoil upon us with a vengeance
as manifold as the aggregate wealth
of the Republic transcends the com
paratively small limits of our bonded
debt. Remember that our aggregate
wealth is always increasing and our
bonded debt steadily growing less.
If paid in a good silver dollar the
bondholder has nothing to complain
of. If paid in an inferior dollar , he
has the same grievance that will be
uitered still more plaintively by the
holder of the legal tender notes and
of the national bank bill , by the pen
sioner , by the day laborer , and by the
countless host of poor , whom we have
:
with' us always , and on whom the most
distressing effect of inferior money
will bo ultimately precipitated.
Germany Destroyed Silver.
But I mnst say , Mr. President , that
the specific demand for the payment
of our bonds in gold coin , and in noth
ing else , comes with an ill grace from
, certain quarters. European criticism
is leveled against us , and hard names
are hurled at us across the ocean , for
simply daring to state that the letter
of our laws declares the bonds to bo
payable in standard coin of July 14 ,
1870 ; explicitly declared so , and de
clared so in the interest of the public
creditor , and the declaration inserted
in the very body of the 5300,000,000 of
bonds that have been issued since that
date. Beyond' ail doubt , the silver
dollar was included in the standard
coins of that public act Payment at
that time would have been acceptable
and as undisputable in silver as in
gold dollars , for both were equally
valuable in the European as in the
American market Seven-eighths of
all our bonds owned out of the coun
try are held in Germany and Holland.
Germany has been forced thereby to
suspend its coinage , since the subjects
of both powers purchased securities.
The German empire , the verv year
after we made our specific declaration
for paying our bonds in coin , passed a
law destroying , so far as lay in its
power , the value of silver as money.
I do not say that it was specially
aimed at this currency , but it was
passed regardless of its effects upon
us , and was followed according to
public and undenied statement
by a large investment in our bonds ,
with a view , it was understood , of
holding them as a coin reserve for
drawing gold from us to aid in estab
lishing their new gold standard at
home Thus , by one move the German
government destroyed , as far as lay
in its power , the then existing
value of silver as money , enhanced
consequently the value of gold , and
then got into position to draw gold
from us at the moment of their need ,
which would also be the moment of
our own sorest distress. I do not say
that the German government , in
these successive steps , did a single
thing which it did not have a perfect
right to do , but I do say that the sub
jects of that empire have no reason to
complain of our government for the
initial step which has impaired the
value of one of our standard coins.
The German government , by joining
with us in the remonetization of sil
ver , can place that standard coin in
its old position , and make it as easy
for this government to pay and as
profitable for their subjects to receive
the one metal as the other.
The Public Credit
When we pledged the public cred
itor in 1870 that our obligations should
be paid in the standard coin of that
date , silver bullion was worth in the
London market a fraction over sixty
pence per ounce ; its average for the
past eight months has been about
fifty-four pence ; the price reckoned in
gold in both cases. But the large dif
ference is due in part to the rise of
gold as well as to the fall of silver
Allowing for both causes and dividing
the difference , it will be found in the
judgment of many of the wisest men
in the countrj- , perfectly safe to issue
a dollar of 42-5 grains standard silver ;
as one that , anticipating the full and
legitimate influence of remonetiza
tion , will equate itself with the gold
dollar , and effectual - guard against
the drain of our gold during the time
necessary for international confer
ence in regard to the general re-hsiab-
lishment of silver as money. When
that general re-establishment shall
bo effected with the coinage of fewer
grains the dollar which I am now ad
vocating will not cause loss or embar
rassment to any one. The miner of
the ore , the owner of the bullion , the
holder of the coin and the govern
ment that issues it , will all in turn be
benefitted. It will yield profit on re-
coinage and will bo advantageously
employed in our commercial relations
with foreign countries. Meanwhile
it will insure to our laborers at home
a full dollar's pay for a dollar's worth
of tvork.
The American Laborer.
I think we owe this to the American
laborer. Ever since we demonetized
the old dollar we have been running
our mints at full speed , coining a new-
silver dollar for the use of the Chinese
coolie and the Indian pariah a dollar
containing 420 grains of standard sil
ver , with its superiority over our an-
eient dollar ostentatiously engraved
on its reverse side. To those "out
side barbarians" we send this su
perior dollar , bearing all our national
emblems , our patriotic devices , our
pious inscriptions , our goddess of
liberty , our defiant eagle , our federal
unity , our trust in God. This
dollar contains 1\i grains more
silver than the famous "dollar of the
fathers , " proposed to be recoined
by the pending bill , and more than
four times as many of these new dollars
lars have already been coined as ever
were coined of all other silver dollars
in the United States. In the excep
tional and abnormal condition of the
silver market now existing throughout
the world we have felt compelled to
increase the weight of the dollar with
which we carry on trade with the
heathen nations of Asia. Shall we do
less ior the American laborer at home ?
Nay , shall we not do a little better and
a little more for those of our own blood
and our own fireside ? If you remone
tize the dollar of the fathersyour mints
will be at once put to work on two dif
ferent dollars different weights , dif
ferent values , different in prestige ,
different in their reputation and cur
rency thoughout t he commercial world
It will read strangely in history that
the weightier and more valuable of
these dollars is made for an ignorant
class of heathen laborers m China and
India , and that the lighter and less
valuable is made for the intelligent
and educated laboring man who is a
citizen of the United States. Charity ,
the adage says , begins at home.
Charity , the independent American
laborer scorns to ask , but he has the
right to demand that justice should
begin at home. In his nameand ia-
the name or common sense and com
mon honesty , I ask that the American
congress will not force \ipon the
American laborer an inferior dollar
% ' . ; - -j&St'db- - . - - , , . = . . . „ _ _ . -
which the naked and famished labor 1
ers 1 of India and China rcfuso to ac
cept 1
The bill which I now offer as a sub
stitute for the house bill contain/
three very simple provisions :
Off era a Subntttnta.
1. That the dollar shall contain 425
grains of standard silver , shall have
|
unlimited coinage , and be an unlim
ited : legal tender.
2. That all the profits of coinage
shall go to the government , and not to
the operator in silver bullion.
3. That silver dollars or silver bul
lion , assayed and mint-stamped , may
be deposited , with the assistant treas
urer at New York , for which coin cer
tificates may be issued , the same in
denomination as United States notes , '
not below $10 , and that thesa shall be
redeemable on demand in coin or bul
lion. We shall thus secure a paper
circulation based on an actual deposit
of precious metal , giving us notes as
valuable as those of the Bank of Eng
land and doing away at once with the
dreaded inconvenience of silver on ac
count of bulk and weight
I do not fail , Mr. President , to rec
ognize that the committals and avow
als of Senators on this question pre
clude the hope of my substitute being
adopted. I do not indeed fail to
recognize that on this question I am
not in line with either extreme with
those w ho believe in the single gold
standard or with those who by premature -
mature and unwise action , as I
must regard it , would force us to
the single silver standard. Either
will be found , in my judg
ment , a great misfortune to our
country. We need both gold and
silver , and we can have both only by
making each the equal of the other.
It wonid not be difficult to show that
in the nations where both have been
fully recognized and most widely dif
fused , the steadiest and most continu
ous prosperity has been enjoyed that
true form of prosperity which reached
all classes , but which begins with the
day laborer whose toil laj's the founda
tion of the whole superstructure of
wealth. The exclusively gold nation
like England may show the most mas
sive fortunes in the ruling classes , but
it shows also the most helpless and
hopeless poverty iri the humbler walks
of life. The gold and silver nation
like France can exhibit no such indi
vidual fortunes as abound in a gold
nation like England , but it has a peas
antry whose silver savings can pay a
war indemnity that would have beg
gared the gold bankers of Londonand
to which the peasantry of England
could not have contributed a pound
sterling in gold or even a shilling iq
silver.
Against Cheap Money.
The effect of paying the labor of
this country in silver coin of full val
ue , as compared with irredeemable j
paper , or as compared even with silver
of inferior value , will make itself felt
even in a single generation to the
extent of tens of millions , perhaps
hundreds of millionsin , the aggregate
savings which represent consoli
dated capital. It is the instinct
of man ffom the savage to
the scholar developed in childhood
and remaining with age to value
the metals which in all lands arc
counted "precious. " Excessive paper
money leads to extravagance , to
waste , to want , as we painfully wit
ness to-day. With abounding proof
of its demoralizing and destructive
effect , we hear it proclaimed in the
halls of Congress that "the people de
mand cheap money. " 1 deny it I
declare such a phrase to be a total
misapprehension a total misinter
pretation of tne popular wish. The
peepie do not demand cheap money.
They demand an abundance of good
money , which is an entirely different
thing. They do not want a sin
gle gold standard that will exclude
silver and benefit those already rich.
They do not want an inferior silver
standard that will drive out gold and
not help those already poor. They
want both metals , in full value , in
equal honor , in whatever abundance
the bountiful earth will yield them to
the searching eye of science and to
the hara hand of labor.
The two metals have existed side by
side in harmonious , honorable com-
nanionship as money , ever since intel
ligent trade was known among men.
It is well nigh forty centuries since
"Abraham weighed to Ephron
the silver which he had named
in the audience of the sons
of Heth , four hundred shekels
of silver , current money with the
merchant" Since that time nations
have risen and fallen , races have dis
appeared , dialects and languages have
been forgotten , arts have been lost ,
treasures have perished , continents
have been discovered , islands have
been sunk in the sea , and through
all these changes silver and gold
have reigned supreme as the rep
resentatives of values as the media
of exchange. The dethronement
of each has been attempted in
turn , and sometimesthedethronement
of both , but always in vain. And we
are here to-day deliberating anewover
the problem which comes down to us
from Abraham's time the -\-eight of
the silver that shall be "current money
with the merchant"
CUBAN HISTORY IN BRIEF.
Spain colonized the Island in 1511.
In 1534 and again in 1554 Havana
was destroyed by the French.
Matanzas was the first city to fall
Into the hands of the insurgents.
Cruelty and Injustice to the natives
has always been the creed of the Span
iards.
The present revolution began Feb.
24 , 1895 , when the republic was pro
claimed by Marti.
The revolution of 1S6S lasted ten
years before Spain aucceeded In com
promising by promising reforms.
The constitution of Cuba , modeled
on that of the United States , was adopt
ed Sept 23 , 1895.
A triangular blue union , having a
single star and five stripes , three of
red and two of white. Is the flag of th
republic.
STTiucksport ( Me. ) fisherman pulled
Op a monBter sea crab the other day ,
and on one side of the creature was
fastened a pair of smoked eye-glassea.
How they oame there Is now the qua- J 1
tlos. J I
2,500 perish : m. japan ; M
Millions of. Italian * ' Worth , ut Property H
Destroyed. H
Sax Fhancisco , Sept Z-k The City H
of Kobe , Japan , was. recently wiped M
out by a disastrous conflagration. H
On August 20 floods , , storms and M
earthquakes caused the-loss of 3,500 H
lives and. the-destruction of millions H
of dollars worth of property in North- |
crn Japan. H
To make tho-fate-of Kobe worse , a M
fire broke out late in the evening and , H
fanned'by the high wind , spread over H
the entire city. One thousand nine M
hundred blocks , including 2,200 H
houses-and twelve go-downs were de- |
stroye'i totally , and ten houses , two M
police boxes , one Are brigade station , M
four temples and one theater. The H
burnt area comprises ten streets. The H
total damage by fire was 1,01)0,000 ) yen. H
POPULISTS CONFER. M
Sir. Wation and Other Notable * Hold a H
Secret Meeting In St. Loal * . H
St. Louis , Ma , Sept 23. Thomas M
E. Watson of Georgia , Populist nominee - H
nee for Vice President , George W. H
Washburne of Massachusetts , who has j H
charge of Populist Western national H
headquarters at Chicago , EL W. Reed , H
Populist national committeeman for H
Georgia , Paul Vandervoort , chairman H
of the Populist finance committee , and H
A. Rozelle , chairman of the Populist M
State committee of Missouri , held a H
sect et conference here to-day , but it ia H
impossible to find out what was done. H
Mr. Watson flatly declined to discuss - H
cuss the question of the retirement of H
either Mr. Sewall or himself and H
others would not state what was dons M
at the conference. H
NO ANTI-SEWALL DEMAND. M
National Chairman Butler Correct * a H
Current Fopullnt llamor. H
Washington , Sept 24. Referring ; M
to reports current in the West that' M
the Populists had made a formal demand - M
mand upon the Democrats for the H
withdrawal of Mr. Sewail in the in- M
tersst of Mr. Watson , Chairman Butler - M
ler of the Populist committee said M
last night that no such demand had M
been made. Mr. Butler declined to M
say just what had been done or might H
be done , but he intimated that while M
friendly efforts would be continued in M
Mr. Watson's behalf no step so extreme - M
treme as to further complicate matters - H
ters would be taken by the Populist M
leaders. | H
VIRTUAL MARTIAL LAW. M
Governor Mdntlre Give * thn Militia M
Sweeping Powers at Leadvllle. . . M
Denver , Colo. , Sept. 24. At 1 H
o'olock this morning Governor Mcln- M
tire sent a telecram giving to General fl
Brooks at Leadville full power to act |
as his _ representative in suppressing H
riots in that city and district , and H
specifically instructing him to permit H
no interference fromany source whatever - H
ever , and to act with or without the H
co-operation of the local authorities. H
MurderoJ for Her Money. B
Kenosha , Wis. , Sept 2 $ . . Mrs. H
Katharine Moore was found dead in H
her home in the town of Somers , with H
a cord around her throat , one end of H
tae cord being attached to a door- H
knob. The fact that S25 in money is H
missing leads to the belief that she H
was murdered. Her body was found H
by her son , who had been to the city , H
Appointments by the Frealdenc M
Washington , Sept 24. The Prcsi- |
dent has made the following appoint * H
ments : James'A. Keaton of Oklahoma , H
associate justice of the Supreme court H
of Oklahoma ; Robert A. Habersham. H
survtyor general of Oregon ; John G , H
Cowie of Pennsylvania , marshal oi H
the United States consular court at H
Tie * Tsin , China.
LIVE STOCKAXD 1'JtODL'CK 3IAKKETS M
Quotations From New York. Chicago , St. * . |
Louis , Omaha and hlsetrhere. li H
OMAHA. M
Butter Creamery separator. . H ® IS H
Butter Choice fancy country 12 © it ; H
Epgs Fresh 32 < B 12i M
Poultry Livehens.perE > 6 © r'i M
Sprin ? Chickens 8 6c 9 H
Lemons Choice Messinas 5 25 © GOO B
Honey Fancy White 13 ( m 14
Onions New „ 20 * e 25
Potatoes New 20 © 25 H |
Oranpes Per box 5 00 @ 6 60
Hay Upland , per ton 4 50 © 5 00 BJ
Potatoes New 20 © 25
Applea-Perbbl 150 © 2 00 M
SOUTH OMAHA STOCK MARKET.
Ilors Light Mixed 2 SO © 2 R5 H
Hops Heavy Weights 2 75 & 2 Si M
Beef Steers a 20 © i 00 M
Bulls 175 © 2'0
Milkers and springers 20 00 &V V ) 1
Stass 2 . " 0 © .100 M
Galves. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 T5 © 5 * ' 5 H
Cows 1 Co © 2 GO H
Heifers 2 40 © 2 70 M
Ftockers and Feeders 2 fiO © 3 40 M
Cattle- Westerns 1 0 > fesi'i H
Sheep Native Feeders 2 e5 © 2 70
Sheep Iambs 3 00 © 5 10
CHICAOO.
Wheat No. 2 Spring 2 © G21' B
Corn Per bu „ 21 © tri'j
Oats Per bu 15 © IE , M
Pork 5 ro © con V
Lard 3 50 © 3 00
Cattle Western rangers 2 0 © 3 SO
Western Feeders 2 fO © 3 25
Hogs Medium mixed 2 90 © 3 * 0
Sheep Lambs 3:0 © 4 25
Sheep Western ranee. 175 © 3 o1 H
NEW YORK. 9
Wheat No. 2 , Red Winter G7 © G7'f
Corn No. 2. 2fi © 2fi3i
Oats No.2 , 20 © CO'J
Pork - 7 75 © 5 .vt
Lard „ 3 S2 • © 4 00
ST. LOU Li I
Wheat No. 2 red , cash K © c ;
Corn Perbu 19 © w. .
Oate Per bu. „ „ . 17 © 17 * . ; "
Hogs Mixed packing 2 fO © 3 20 1
Cattle Native Ship'ng Steers. 3 70 © 4 73 ' I
KANSAa CILY. I
Wheat No. 2 hard rC © 5 J I
Corn No.2. „ 19 © 19j 1
Oats No.2 ISf ® 15 I
Cattlf Stockersana feeders. . 2 CO © 3 65 1
Hbgs Mixed. 2 55 © 2 K I
Sheep Lambs 2 50 dz.H0
Sheep Muttons 175 © 2 50
Kansas Gold Elector Filed.
Topkka , Kan. , Sept. 23. The Na
tional Democracy's electoral ticket
waa completed to-day and filed this <
afternoon. The electors nominated ,
all of whom have accepted , are : At
larg-e , S. S. Reynolds of Grainfield , C. 1
B. Mason of Ottawa , and J. EL Lowell - j
ell of Holton. First district , F. H. Ij
Mills of Leavenworth ; Second , Charles - • &
E. Hulett of Fort Scott ; Third , P. H. '
Albrijrht of Winfield ; Fourth , William
Crotty of Burlington ; Fifth , J. 0 A.
Sheldon of Manhattan ; Sixth , Grover
"Walker of Hosie ; Seventh , J. V.
Brinkman of Great Bend.