WHAT 16 TO 1 MEANS.
\ -
SILVER DOLLAR IS TIMES"AS
HEAVY AS I COLD DOLLAR.
B*tk Dalian Formerly Had tha Sanaa
PorohuLos Power, bat far Many
Yaara Silver Has Been Declining; la
▼alaab
(Official matter edited by the Repub
lican National Campaign Committee.)
A eilver dollar weighs sixteen times
as much as a gold dollar. This is what
Is meant by the coinage of silver “at
the ratlb of 16 to l." Ti>//
“Free" coinage of silver means that
sliver bullion, when brought to the,
mint, shall be coined into dollars at
the expense of the United States gov
ernment, without cost to the Owner.' 1
By the "unlimited” coinage of silver
is meant that all the eilver, American
foreign, brought to any of our mints
shall be so coined, at. the. owner’s de
mand. ’ ^ i .
When the ratio of 16 to .1 was estab
lished ;by the government,' i sixteen
ounces of silver bullion were worth, In
the marjcet. Just aq much as one pence
of go)d bullion. A silver dollar and a
gold dollar were .then worth precisely
the sa&e, before'fhCy wrdre coined,'
when they were coined, or after they
were hnOlted. The: face value.of a sil
ver dollar was its actual value.
But of late years pure silver hag de
clined in value, so that now the com
mercial ratio, instead of being 16 to 1,
is about Si to 1. That) Is to shyj an
ounce of gold bullion is exchangeable
for thirty-one ounces of , silver, bullion,
instead of being exchangeable for only
sixteen ounces of silver bullion, as it
I, 't.‘ r, .
at the ratio of 16 to 1.. The conse
quence would be that the silver dollar
would soon decline In purchasing power
to the commercial value of the bullion j
It contains, and would be worth little, \
If anyii more than feaUbar&ltgiLlft gold.
As all^private' aid Nubile'd£bta not
explicitly payable In gold would then
be payable in these half-rate dollare,
our gold would disappear frofet circula
tion and would quickly be drawn out
of the country in paying our obliga- I
tione and .purchases iroftt gold-using 1
countries 4hcrft ouf gfiver coins Would j
not be accepted. As a consequence we
should in a few months lose all of our
$612,000,000 of gold, leading ua with a
much contracted and greatly depre- j
elated currency. A disastrous panic |
would ensue, foUofedjbx tyie tsu^pfn
sion of thoueandfef fa<$d*iflfe mid busi
ness houses, a general business col
lapse, and the loss of employment by
hundreds of thousands of wage-earners
and laborers. *1E
Under our present monetary system,
and until the agitation __ for the free
coinage (ft t^lvej/becajpd \ Hahgerous
menace to business ami ^andr/we had
the most prosperous years over known
in American history.
'iitUt Concerning Farm Mortgages.
One of the favorite assertions of the
populists, both of the St. Louis and
Chicago variety, is that the southern
and western farmers are groaning un
der the burden of mortgages held by
the people of New England and the
east... - . ■ .ijit
“Pitchfork” Tillman Is particularly
fond of expatiating upon this topic, and
iathong the populists of Kansas and Ne
braska the theme never grows thread
bare. : According to them, the east is
liylng in idleness and fattening off the
labor of the west and south.
‘pome interesting figures have been
collected In regard to this subject They
are those qf the census bureau and, al
though that institution is not always to
be relied upon when the tariff is
question, there is no reason tqt tfoubt
Its substantial accuracy in mortgage j
statistics. fa's' ' j
So far from showing that the farm*
of the west and south are more heavily
mortgaged than those of the east, the
figures indicate that the reverse is the
case. The farms of New York, for ex
ample, are mortgaged to 43 per cent, of
their value, while the Kansas percent
formerly was. Silver bullion is thus
i worth In gold only about half as much
as It was when the oolnage r^tio was
made Id to 1.
A silver dollar, with the stamp of
the government upon it, passes for more
than it is worth, last as a, paper .dot
,lar passes for more than the paper up
on which it is printed Is worth. The
credit of Jthe government is behind the
.paper dollar, and the Credit of the gov
ernment is behind the silver dollar.'
The United States government lends its
credit to every man with an American
silver dollar in his pocket,'so. that he
can pay 100 cents of debt with 53 cents’
worth of silver. But the Credit of the
government is not behind the uncoined
silver, in the form of bullion. There
fore the bullion is exchangeable for
other commodities only to the amount
of its actual or intrinsic value.
The 1 free and unlimited coinage of
silver at the ratio of 16 to 1” means,
therefore, that the government of the
United States, instead of pledging its
credit foir the maintenance of a limited
amount of coined silver at parity with
gold, shall pledge its credit for, the
maintenance of an unlimited amount
of silver, now worth only 31 to 1, at a
parity with gold, at a ratio of 16 to 1
By this the United States would under
take to double the value of every ounce
of silver, coined or uncoined, in the
world, and extend an invitation to all
the nations to send their surplus sil
ver here to be coined into silver dollars
at a ratio of 16 to 1.
These silver dollars, if coined in an
unlimited quantity, would not be Wbrth
as much as gold dollars, because it is
the credit of the government' which
makes those we now have equal in
purchasing power to-a gold* dollar, and
the credit of the government is not
without limit. “Unlimited” coinage of
Silver would exhaust its credit, by ex
fc?
i
age la but 33. In Pennsylvania the
amount of incumbrance is 40.65 per
cent pf the total valuation, as against
only 33 per cent in Iowa. New Je£sej[
farms carry a burden of nearly, 56'pet
cent, while Candidate Bryan'jritat;—
Nebraska—Is down to 32 per cent. Ib
Delaware the percentage is 44, while in
Illinois It is 34 and in Indiana but 36/
So much for the claim that a ma
jority of the western farmers are mort
gage-ridden. But when the average
Incumbrances upon mortgaged farms
are investigated the difference is even
more pronounced. In New York this
average is $1,749; in Pennsylvania,
$1,716; in Bhode Island, $1,625, and in
Delaware $2,147; while in Nebraska
it Is only 91,084; in Tennessee, $667; in
Missouri, $853, and in South Carolina,
the home of Senator Tillman, it Js $830.,
These, of course, are only simple
states, but the average holds good for
them all. The west and stiuth are, os
a matter of fact, better off as to farm
mortgages than is the east* tin Mis-r
souri, for example, there are more un
incumbered farms than in the whole
Six New England states.
The facts cited do not require any
comment. It Is only necessary that they
should be borne in. mind when the
calamity-shrieking sectionallsts begin
—as they surely will—to repeat their
stock misrepresentations during the
campaign.—Chicago Inter-Octan,
A Chomp.
First Summer Girl—I haven’t any
use for that young Mr. Athertoh that
Girl Oh, nothing; only he asked me
to take a walk with him down the
beach last evening and when he came
after " me he was " carrying1 a cane.—
Somerville Journal.
Mrs. Arazlma Fleming of Waterloo,
has always lived in this state. * ***
TEN BILLIONS AT STAKE.
Dlwilma Effect of Free Silver Coinage
,ltli on Inaar»no«
ihe New York Life Insurance com*
pany, by Us president, John A. McCall,
issued K Circular letter July 24 to its
28T.O0O ’policy-holders, in which it un
equivocally denounced the “financial
heresy of the democratic platform
adopted in Chicago," says the New
York Times. *
The circular intimated that if the
principles: of' the democratic money
VnUC wefre cjrrled Intel effect the in
surance companies would be forced in
to paying the claims of; the insured in
debased currency, for the reason that
they "could not, even if they were' will
ing, provide for the payment of their
. clatyns>.iiL gold.” The letter, which is
feiprfiihfg^ysp, is practically an offl
Queer Bedtal^m.
©0*-'B
cial appeal to the public.: and holders of
insurance policies to bef on the side of
sound money: \ |
Number of policy holders f
in companies operating
in this state. .. j.. 10,407,876
Estimated number of bene
ficiaries .I.. 25,000,000
Paid to policy holders and \ '
beneficiaries, 1895. 165,lj)3,000
Paid in the last five years. 730,000,000
JiTotal outstanding insur
’ ance contracted to ;be
r Paid .|7. 9,681,497,875
The circular goes on to say: s . ■.
“This sum (nearly ten billions of
dollars) must be paid at some time or
other, for death Is certain. How shall
it be paid? In what kind of dollars—
dollars in gold worth 100 cents, or dol
lars In silver worth 53 cents or lees?
The insurance policy itself is an agree
ment to pay In lawful money, and the
main issue involved in the forthcom
ing election brings home to every
policy-holder this question: In what
commodity shall the payment be made?
With silver dollars and gold dollar* a(
a parity, the question answers itself,
but with dollars worth only 53 cents,
what may be the effect on the wife and
children for whom the policyholder
hoped to provide in the event of his
death, or on his business, which he ex
pects to straighten out! with the pro
ceeds of his policy? What may be the
effect on the competency for his old
age which he expected to derive from
; n®t ‘dolla.rf, and which may be pay
able in doubtful dollars if the free coin
age of silver is adopted? The premi
ums have been paid in gold or its
equivalent, and to compel the policy-*
holder or his family to accept one-half
the value that he has paid for it at the
maturity of the claim would be aa in
iquitous and Indefensible as though he
'had been robbed on the highway. If
the-views of the Chicago candidat&jtre
vail, the companies could not, even if
they were willing, provide for the pay
ment of their claims in gold dollars.
The platform on which he stands reads,
in part, as follows: j
“ ‘We demand that the standard sil
ver dollar shall be a full legal tender,
equally with gold, for all debts, pub
lic or private, and we favor such leg
islation as will prevent for the fnture
the demonetization of > any kind of
legal tender money by private con
tract.’
me record oi tne debauched cur
rency period of 1871-’7S, when thiriy
life Insurance companies retired from
business, Is too recent an object lesson
to be forgotten and its results too de
plorable to permit the custodians of life
insurance funds to be Indifferent to the
great danger that threatens policy hold
ers and those depending on them. Sure
ly it is not a political question that
confronts us, and even if it is, on the
vital point at issue—sound money—
which involves-the honor of the people
and the prosperity of the country, the
Chicago candidate and platform are an
tagonistic, and we may well subordin
ate our non-essential convictions to the
essential one for patriotic reasons, if no
other. Their chosen officers may offi
cially appeal to the insured and bene
ficiary for common and united action
against those who would greatly im
pai^y.nqt destroy, the protection that
nas been secured by much self-denial.
No one responsible for the management
of these sacred trusts should fail to de
nounce the financial heresies of the
Chicago-platform or refuse to Join in
bringing about the defeat of their ad
vocate.^
.__ S
Maxlenn Dollar* tor Whnt
Niles, Mich., July 31.—The Buchanan
filling company announces that it will
pay to every farmer who sells wheat in
lots of 500 bushels or over, one Mexi
can dollar per bushel. The manager
explains that they would take small
lots of wheat on the same basis, were
it not for the expense and trouble of
shipping in Mexican dollars in small'
amounts;, \
If wheat holders will club together
*m* sell in lots of 1,000 bushels they
Mil make the seller a present of two
good American dollars for each 1 000
bushels delivered to them. The Mexi
can^ dollars contain more silver then
the^Amerlcan dollar, and far the farm
er to realize |1 per bushel for-his wheat
all that is necessary to do, it I smalmed,
is to store the Mexican dollar^ untii
ttm aUvpr wins-ao* ithMaafess them
coined by the government.
PLATFORM FALLACIES
FALSE ASSERTIONS BY DEMO*
CRATIC CONVENTION. '
Ruielal Flank* Adopted at Chlcayt
• D*clar* for Uaaoand Money Bad a
Debated Standard at Value — Other
,, Plank*. ' l/
!- =i ■ »• V-.
The declaration of financial princi
ples put forward by the Democratic
national convention Is a shrewd mix
ture of cheap money delusions, half
truths and wholly unfounded asser
tions. Its alleged statement, of facts
has frequently been shown to be un
true, but In spite of this they were de
liberately Indorsed by a majority of the
representatives of the Democratic
party. Since the standard raised at
Chicago will be used to rally ill the
forces of silverlsm, flatlsm, currency
debasement and debt repudiation. It be
comes necessary to refute once more
the statements on which the Ameri
can people are asked to support the
Democratlo candidates. This can be
briefly and effectively done by a com
parison of the assertions of the Chi
cago platform with the simple facts.
SILVER CLAIMS. SOUND MONET
FACTS.
“ — " A II C UWHOVUUMVII
names silver and does nothing of the
gold together as the kind. It does not
money reetale of the contain a line or
United States.”
• **■(
*
a,
’ liNlm
-it-x >.»
>t > > '
i) I
I'iiit ii .
.it ! V •• •
ifHOl
V
’■ tu t Wilt t i
"Si „*t«aS
word . which 'can he
twisted Into mean
ing that gold and
silver shall be the
money metals of the
country. Article ,J,
section 10, says:;
‘‘Nostate shall en
ter Into any treaty,
alliance or conred
’ eratlon, grant let
ters of marque and
reprisal, coin mon
ey, emit bills ol
-credit, make any
thing but gold and
silver coin a tender
in paymentof
debts."
The denial of the
right of the states
to make anything
but gold and silver
legal tender is very
far from naming
those metals as the
"money metals ot
the United States.”
In no other part of
the constitution Is
~u‘
"The first oolnage
gold or sliver even
mentioned.
The first coinage
law passed by con- law passed by con
gress made the sll- gress made both
e.eeavao me Bll- gITB8 UlUUtt U U III
ver dollar the money gold and silver coins
u n 11 and admitted the unit or measure
gold to free coinage of value. The Span
at a ratio, based Ish milled dollar
upon the silver dol- was made the unit
lar unit." of number, but the
coinage of gold was
■ • i ■ based on a fixed
<■<< 1 ? !- number of grains ol
gold and not on a
ratio with the sll
< • ver dollar.
We declare that The coinage law ol
the act of 1878, do- 1873 was passed aft
monetizing silver er three years’ dls
wlthout the knowl- cusslon In congress,
edge or consent of and It was printed
the American peo- 18 times In the
pie, has resulted in course of Its enact
the appreciation of ment. The speeche
gold.”
. i •:./
•tiny
•It. 41
■-•I
.-,>T
H.
■ -V, :
"We are unaltera
bly opposed to mon
In both the house
and senate durlni
the proceedings or
the bill show that
the change wai
made as openly a:
any other law evei
passed by congress
There Is no prool
that gold has appre
ciated. Measured b>
Its labor cost—that
Is. the. amount ol
labor necessary to
obtain a given quan
tity of It—gold Is
cheaper to-day than
In 1873.
The free coinage
of silver bullion.
uij tu iiiuii- tu Oliver uuiiiun, (j
ometalllsm, which which 30 ounces ar
has locked fast the worth less than on
prosperity of an In- c-unce of gold, lnt
dustrlal people 1 n legal tender dollar
• *■ ~ -of at a ratio of 16 to
%old dollar, would
the paralysis
hard times."
once force this coun
try on a silver bash
and thus brim
about the monomet
allism which the sll
verltes pretend t <
oppose.
"Gold monometal- It Is also the pol
llsm Is a British pol- Icy of France, Qer
Icy. It is not only many, Austria, It
u n - American, but aly, Belgium, Bwltz
anti-American.’
** > I li
erland and o t h e
civilized n a 11 o n <
Silver monometal
llsm. which wouli
be the certain re
suit of free colnag
at 16 to 1. Is the pol
icy of China, India
Mexico and Japan
Are the gold ualni
or silver using coun
tries the most en
! K • • *. • lightened and proa
j peroue and worth;
of being Imitated b;
Americana?
"We demand the This is a deman
free and unlimited that silver woftl
coinage of both sll- only 62 cents shal
ver and gold at the be declared equal ti
present legal .ratio value to a gold dol
of 16 to 1, without lar worth 100 cent
waiting for the aid In face of the fac
o r consent of a n y that the rest of th
other nation. We world refuses t
demand that the Join In establlshlm
standard sliver dol- a n arbitrary rati
lar shall be a full between gold an<
legal tender, equal- silver. It Is also i
ly with gold, for all demand for leglsla
debts, public and tlon making debt;
private
contracted on
! J f f ■
J
cent basis pay&b
* >liara.
■ V
fV 5
■1 1.1 vt, YRJVJ
In 62 cent dollars.
Is a frank assertlc
In favor of debaslr
the currency b
adopting the chet
•liver standard,
means that one-ha
of the property i
' the millions of ere;
Itors of the count]
. shall be taken aw«
from them by lat
and that If the si
i verltes are sudees:
ful they will brlr
on a financial pan
b y threatening li
vestors with the loi
JJf, l»*I£ their cai
Ital, thus forclr
them to call In a
their loana
xu one respect at least the Chicago :
platform is to be commended. It is a
stralghtout declaration of revolution
ary doctrines and repudiation prin
ciples. Every one who supports
it will know just what he 1b vot
ing for, and the American people
will have only themselves to blame if
they are foolish enough to indorse a '
policy which would bring widespread
ruin and poverty and end in national
bankruptcy and dishonor.
WHIDDEN GRAHAM.
- i' ’ 7 • . ' • •* • t
■ OmktB’i I.»w,
When two kinds of coin are current
in the same natiojr of like value by de- j
nomination, but not intrinsically—i. e., i
in market value—that which has the
least value will be current and the
other a* much S* possible be. hoarded,
melted down or exported.
TL'tlntad.
; “Ho,” mid the : tail, blond* ‘ one, “I
do not like ber, because she is so dre*
matio in her ways.”
“She is ao such thing!" said the pe
tite brunette one, rtlljinm to the de
fense of the absent. “She has been
married to the same inun for more
than ten years. Dramatic in her ways,
indeed!"
The assembled persons had to admit
that the point was well made,
' • *r*T‘--."" " if |
Ball’s Catarrh Cure ' :
Is taken Internally. Price, 75c.
____■ ; i,-; >
The One exception..
“Ah, my young man." said the fond
father, “in giring you uy laughter I
hare entrusted you with the dearest
tressure of my life."
The young man was impressed, then
he looked at his watch. “Really,” he
said, “I had no idea it was so late. The
care hare stopped. Could I borrow
your wheel to ride home?"
“Hot much! I woulcLnot trust any
body on earth with that wheel.”—Up
to-data. .
—
Bee's Baugh Be team
Is the oldest end tost. It will braak spaCoMealsh
er thee anythin! else. ltls always rsilabl*. fry M.
People cheerfully pay 25 cents for a 5-cent
calte of soap, if it is well advertised. ^
It the Baby le Cutting Teetn.
(Is sore and dm that old and wsll-erted remedy, Baa
iruntow’s soonmn Sraer tor Children Tsethlng
There are now over 505 horeeleee car
riages In use in Parle.
Th# Indira. ,
The pleasant effect and psrfe^H
with which ladiea may use Syrup cf
Figs, under all conditions, niches ft
their favorite remedy. To set the tru*
and genuine article look for the name
of the California Fig Syrup Company,
printed near the bottom of the pack
age. For sale by aU responsible drug
gists.
Blood Pure ?
I> it? Then take Ayer’s Sir*r
aaparilla and keep it so. bat
it? Then take Ayer’s Bases
perilla and make it so. One
fact is positively established^
sad that is that Ayer’s' Saras*
pariUa will purify the blood
more perfectly, more economi
cally and more speedily
any other remedy in the maw
ket. There are fifty years of
cores behind this statement ; a
record no other remedy can
show. You waste time and
money when you take anything
to purify the blood except
Ayer's Sarsaparilla.
■ -W
•:#
Do yon know that people be’Jere, If yo»
ire a gossip, that you are not very ofat
found! . '
» *
■ J ■»
"It Bridges You Over,"
,x
PLUG
"Battle Ax" bridges a man over
many a tight place when his pocket
book is lean. A 5-cent piece
"Battle Ax* will last about as long
a 10-cent piece of other good tobaccos.
This thing of getting double value for
your money is a great help. Try it and
save money.
W •• • ?•>' •
■ i M h >,V V. ■ •' '! -ti. i
e s.
For Imitations of Walter Baker & Co.’s 1
Premium No. i Chocolate. Always
ask for, and see that you get, the arti
cle made by : ■ ;>- •
: ' ?' * ■'* ‘ ?«.*.
Walter Baker & Co., Ltd., Dorchester, Mass.*
? -• • .f *y*; fi ,
ui V > 't#7
19 Years'
Accumulated Science and Skill
The reason the great factories at Hartford, Gnu* whew. Ae fc™—
ftJwmfcls tleyrlrs lit msde, ««■« tmJUtng —A nuUL- mifMnw *~fcy « ' > :
h haw for W years they have profited by erery espe risuce and has. ’
carried on their investigations hi the broadest -««■«*»- spirit. j$ jd Jt ;-i '
ere recognised all over Europe and Americas leaplid) umpp roachrri i
STANDARD OF THE WORLD |
Columbia Art Catalogue, tolling fully of all Columbia*, and «f Hartford Bicycles, traatwoetby
machines of 16wer price. Is fieo fmm any Columbia agest; by mail for two ft-eeat atasape. I
) POPE MFC. GO., Hartford, Conn.
Branch Stores and Agencies In almost every city and town. If Cblumbias axe not pnpariy
represented In your vicinity , let ns know.