The Alliance-independent. (Lincoln, Nebraska) 1892-1894, August 31, 1893, Page 2, Image 2

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Tor Three Hours ba PUadi the Cause cf
tie Wtite Metil ia tha Ecus. .
History, Figures, Logic, Wit, Witdom,
and Eloquence all Combined No
Compromise With tho Monty
A Full Report.
- (Concluded from last week )
But It the silver miner after ell so selfish
at to be worthy of censure? Does be ask
for tome new legislation or for tome Inno
Tatien Inaugurated In nil behalf? No. lie
pleadi only for the restoration of the money
of the fathers. He asks to have given back
to blm a right wuleh be enjoyed from 17'J2
to 1878. During all those years be could
deposit bis silver bullion at the mints and
receive full legal tender coins at the rato
of f 1.29 for each ounce of silver, and dur
ing a Drt of the time bis product could be
converted Into money at even a higher
price. Free coinage can only give bsck to
hlrawbat demonetization took away, ile
does not ask for a silver dollar redeemable
In a gold dollar, but for a silver dollar
which redeems Itself,
If the bullion value of sliver has not
been reduced by hostile leglglatloti, tho
free coinage of silver at the present ratio
can bring to the mine owner no benefit,
except by enabling him to pay a debt
already contracted with less ounces of
silver. If the price of his product has been
reduced by hostile legislation. Is ho asking
any more than we would ask under tue
same circumstances In seeking to remove
the oppressive hand of the law? Let me
euccest, too, that thoso who favor an
International agreement are estopped
from objecting to the profits of tho
sliver mine owners, because an
international agreement could ouly bo
effected at some ratio near to ours, probably
W4 to 1, and this would Just as surely
Inure to the bentfttof the owner of silver
ae would free coinage established by tho
independent action of this country.
If our opponents we-e correct to assert
ing that the price of silver bullion could be
maintained at 121) cauts an ouuee by
International agreement, but not by our
separate action, then international
bimetallism would bring a larger profit to
the mine owner than the free coinage
of silver by this couutry could. Let the
international blinetalllst, then, find some
better objection to free coinage than that
based on the mine owner's profit.
tub, ntoriTS op minixo.
But what Is the mine-owner's profit?
lias anyone told you the average coat of
mining an ounce of silver? Vou have
beard of some particular mine where silver
can be produced at a low cost, but noouo
has attempted to give you any roliable data
as to the average oost of prod uctlun. 1 h ad
a totter from Mr. Leech when he was di
rector of the mist, tsytns that the govern
ment ts In possession of no data In re
gard to the oost of gold production and
none of any value in regard to silver. No
calculation can be made as to the protits of
mlulng which does not Include money spent
In protpectlug and tu mines which novo
ceased to psy, as well as those which are
profitably worked,
When we tee a wheel of fortune with
twenty-four paddles, see those paddles
sold for 10 Ceots apleoe, and see the holder
of the winning puddle draw !, we do uot
conclude that money can be profitably In
vested la a wheel of fortune. We know
that those who bought expended alto
getner 12.40 on the turn of the wheel, and
that tn man wno won oniy received wa
but our opponents Insist upon estimating
the profits of sliver mining by the cost of
the winning paddle, it Is safe to say that
taking the gold and sliver of the world-
ami It is more true of silver than of gold
very dollar's worth of metal lias cost ll.
It Is strange that those who watch so care
fully lest the silver miner snail reoeive
more for his product than the bare cost of
produollou, Ignore the more fortunate gold
Did you ever bear a mooometallist com
plain because a man could produce 25.8
grains of gold, .0 fine, at any prioo what
ever, and yet tako it to our mint and have
it stamped Into a dollar with full legal
tender qualities? 1 saw at the World's
fair a few days ago a nugget of gold, lust
as It was found, worth over ta.ouo. W hat
an outrage that the Under ahould be allowed
to convert that Into money at such aa en
ormous profit And yet no advocate of
honest money raises Ills baud to stop that
The fact la that the price of gold and
sliver does not depend upon the cost of
production, but upon the law of supply and
demand, it Is true that production will
stop when either meial can not be produced
at a profit: but so lone as the demand con
tinues enuat to tho supply the value of an
ounco ot either metal niny be far above the
cost' of production. Willi most kinds ot
property a rise iu price will cause Increased
production; for tastanco, if the price of
wheat rises faster than the price of other
things, there will be a tendency to in
creased production until the prior falls;
but this tendency cau not be carried out In
the case ot the precious nietalM, because
the metal must be found before it can be
produced, ana finding is uncertain.
Between 1800 and 181U an ounoo ot gold
or silver would exchange for morn of other
things tlmu it would from 18W to 1873. yet
durtug tha latter period tha production r.f
both irold and silver greatly increased, it
will be said that the purchasing power of
an ounce of metal fell because ot tho In
creased supply; put that fall did not check
production, nor has the rise in the pur
cnasiug power of an ounce of gold since
1873 Increased the production. The pro
duction t both gold and sliver Is controlled
So !! by chance as to make Some of
the laws applicants to other property In.
applicable to the precious metals. If the
( JPPly of gold decrease without anv dimi
nution of the demand the exchangeable
value ot each ounce of gold is bound to tu
crease, although the cost ot producing toe
gold may continue to fail.
Why do not the advocates of old mono
metallism recognlie end complain ot the
advaataae gtveu to gold bv laws wlitc la
crease the demand fur it and, therefore,
the value tf each ouace? latiead of thru
Uiey coo hue Insinuates to the dcu tint-tattoo
of the silver eiti owner. have i.ever
advocated the a of either gold or silver
as the means of giving employment to
euteert, or has the dvfettte of bimutallUiu
bee a ewuiluctod by the luUrtud in tie
ruiKtuetion ( silver. We Itvet the ue of
gold sad sliver as money because money is
a eev!u ana t'cu ibese luelaia. ow
ing to special Blow, have trca uia from
luue lutiuaiiwtfiai. )h eaure sanua; s ip
tly ot tHHh Kt.tut, tiud at the present
lativii Uy but a;lotd toe la;i a sau ot
tin Avxt'jtt, tta or tit vrn.
if, as Is au mated, two-thirds t the UV
. f f M riiie4 annually ate eu
timed la Us ait, ! Kuml,ivA m Mt
tkaa we eee.t for this euantrt aoae-re
tell ff vvlaatfe. It tltlS l Ine v
tM,V etltti vdu eauualiy Is h1
Ih U. e ail. stVMiu.twj are left l .i SMaaie,
I bit hta Pa In its ktbii el Ukin tixml
eM itt4i l that sum. laue l-ti g aid aad mtet taui:i et
et.s vs an tfce rava'a f sit tiie wrt.t m
ouly about l suet tuwr wwe
wfent ta l ltaiwttti tw kwp e
tk lt,-iOl Wfl(ltt, ASil (Ml iatt
lit M M. auMi S14tiwt i the
IkeMiit attui uf hmtUIJ i Miey 1 g
titUe Itm that fc,pau,fRj,0C3. The vj,(w0.9w J
per anouui is ilutul two and a bail le( reiil i
oa the U.UI VoluuiS OI metallic money, us
ing no arcount ot lost coins and sliriuke
by abrsaion. To quote again the language
uf 11 r. Carlisle:
. :aikliii will tie forttinste lrwli-d If the an
Bualirvduotlouof gold coio shall k-p pw5
w ith Die nniml lu-reaae of pupuiauou, cuut
la we and Industry.
An iiif reaseof the silver dollar one third
by au international agreement would re
duce by fMo,ojO the number of dollars
wiiich could be coined from the annual
product of silver, whirh would aiuouulto
a decrease of about one-quarter of the en
tire I oereaee of metallic money, while the
abandonment of silver entirely would de
stroy three-quarters of tbo annual lucrease
iu metallic money, or possibly all of it, if
we take into consideration the reduction of
the gold supply by the closiug of gold pro
ducing silver mines.
Thus It Is almost certain that without .
silver the sum of metallic money would re-,
main stationary, if not aotua'ly decrease,
from year to year, while population In
creases and new enterprises demand, from
time to time, a larger sum of eurrency.
Thus It will be seen that tha money que,
lion is broader thau the interest of a few
mine owners. It touches every man,
woman, uud child iu all the world, and
afleets those In every condition of life and
The interest of the mine owner is Inci
dental, lie profits by the use ot sliver as
money Just as the gold miner profits by tho
use of gold as money; Just as the newspa
per probts by the law compelling the ad
vertising of foreclosures; Just as the sea
port profits by the deepeulng of Its harbor;
just ss tho horse seller would profit by a
war which required the purchoseof a large
number of homes for cavalry service, or
just ss the undertaker would profit by the
decent uuiiai ot a pauper at puuuo ex
cuse. All of these receive an incidental benefit
from publlo acts, fcball we complain if
the uh of gold and silver aa money gives
employment to men, builds up clt'es and
Alls our mountains with life and Industry?
bball we oppress all debtor, aod derange
all busiuess agreements In order to prevent
the producers of money metals from ob
taining fur them more than actual com?
We do not reason that way in other things.
Why suppress the reason in this matter be
cause of cultivated prejudices against the metal? but what Interest lias the
farmer In this subject? you may ssk. The
same that every laboring man has in a
currency sulllcieut to carry on the com'
merce aud business of a country. The em
ployer cannot give work to men unless he
can carry on tbo bualnese at a profit, and
tie ts hampered and embarrassed by a cur
rency which appreciates because of Its In
suthcleucy. Vlig KABllEll'S IMTKUBST.
The farmer labors under a double disad
vantage. He not only suffers as a producer
from all those csuses which reduce the
price of property, but he Is thrown loto
competition with the products of India.
Without Indian competition His lot would
be hard enough, for It be is a land owner
be and his capital decreasing with an ap
preciating standard, and If he owes on tlie
laud lie buds his equity of redemption ex
tinguished. The Just census shows a
real estate mortgage Indebtedness In
the five great agricultural states fill
noli, Iowa, Missouri, Kansas and Nebraska
of more than A rising
standard means a great deal to these mort
gagers. 11 ut as 1 said, the producers of
wheat and cotton have a special grievance,
for the prices of those articles are governed
largely by ths prices In Liverpool, aud as
silver goes down our prices fall, while the
tupce prices remains the ssme. 1 quote
from the agricultural report of IHM,
page 8:
The recent legislation looking to the re
storation ot tlui bluietuttlc sluudurd of cur-'
rcuey, and the ccjuiijent enhiinoeinunt of
tiff value of llvor, iiiin unquestionably hud
win li to do with tbo rucunt advuuoo In tliu
prlro of cereals. The sainu r.iuj has ad
vanced tho urlc: of whuat In llussls and in-t
din, udI In the sumo degree ruducxd tlinir
power of coiiii til Ion. LiimIImIi gold rss
formerly exclmuirud for cliuup silver and
whoiit purelm.ii'il with the cheaper met til wue
sold la Uruul ItriliUn fur gold. Much of tills
nUvHiiliigii is lost by the appreciation of sliver
In those countries. It is reasonable, there
fore, to export much hitrher prices for wluMt
limn have lieea recolrud la recent yeur
.Ur. itusk's reasoning; Is correct. Shall
We by changing tho ratio fix the of
wheat and cotton at the present low price?
If it is possible to do so. it Is no more thau
fair that we restore silver to It fonnur
piaco, and thus give buck to the farmer
some of his lust prosperity. Can silver he
maintaliiod on a parity w.tli ltd Id at the
piusunt ratio? It has been shown that li
we should fail uud our elfort should rexull
lit a single silver standard it would be but
ter for us than the adoption of the gold
sttttidard --that Is, that the worm that could
come from the attempt would be far better
than the best that our opponents could
OilVr US. i - .
It has been shown that duugon and dis
advantages attend a change of rjutio. it
may now be added that tie change In tlitj
ratio can be made with falruess or Intelil
guuce willt'iut Hint puttiug gold und silver
pon a rei feet equality in order to tell what
the natural ratio is. If a new ratio is nec
essary, who can lull Just what that ratio
ought to bo? Wlio knows to what extent
lie divcriiLUce between gold and silver ia
due to natural laws and to what extent it Is
due to aitltkal laws? We know that the
mere act of ludl.i In stniuiuliug free eoiu
ago, although she continues to buy aud
coin on government account, reduced the
price of silver moro tl'Bii !0 cents pur
ounce, tan anyone- doubt that the restora
tion of free coinage In that couutry would
lucn ao the bullion price of silver 1 Who
doubts that the free coinage ot silver by
the United states would increase Its bullion
1 he only question Is how much. It Is
Oniv a vuess, for no mte ran slut with
uiall'eiuattcal precision what the rise would
be, The full use of silver, too, would slop
the increased demand for gold, and tnus
prevent any further rise Iu Its price. It le
because no oue cau speak with certainty
that 1 Insist that no change in the ratio
cau lutoiltgeuity be made uatil ootli insi
sts are ortered equal privileges at the mint.
Whn ww hnve the free and unlimited
coinage of gold and silver at tha present
ratio, then, aud then only, can we tell
whether auy of the apparent fall In the
bullion price ot silver Is due to circum
stances over which we have no control,
and if so, bow much? It this experiment
should drmouatiale the necessity fur a
change of ratio It cau be easily made, eae
should be made In sueh a way as to cause
the least Injury to society. Out we can, Iu
my - Judgment, manuals the parity
at tha pireeiit ra'lo, I slate this
wiiktiut hustialioo, notwithstanding the
fact that our opponent da net dtsutM
the contempt winch they fevl ft one whe
ran believe this potbt. It the past
teaches SBtthlug it Washes the pt
isuuiiy f this conn try maintaining
the parity alone. The lioyal eoutmUsiuv
tt tutfteMd stated la ill repvit that franc
S J maintain the ( ailty at 14-, to ,
although she has not half aur nofuiailou
c eurpr . timing the rears wken let la ci uttoiisd the piit el f aUl aud
tllvtbui::ctaananm la the relative
prodtitiMt ( goi4 an 4 elite vn greater
man luy have beess eiee. At oue Mute
salute i;j the value ot the silver preduU
as related to lae value the gid riut
1 1 I, while at aavtber ta the talstion
at reverted. ss4 the prwUsUMt ot ad
K silver ai U l.
Nutuoh ehtn bt eeeutred tier,
id the rl .ue bf the sive pio.l,u t
t"i? ls U I of Mueti t the ie
tt" a4itl lilv I it due to trie f t lbt it
as W fl,nm rt.(tn'v4 m, 11
n usa u tie, a4 it mm !-. mie
b st tttwevi bMiui. ikm hu at
to l'st exatitiaiH'a aoUl suwd tue
fvo4tio vikno ee s 4i
lllltmlllltlfMs k-HHM flwU !
aM ! t a,,wluf v.n-i
tw. tnt a. :n
thlH4 l-W tti4M t t ( 1
tt that "virl-ius circle" be uroKeu aod
tliivt rem resuaie : nshtfsi ce. vte
believe, in other wordi, that t.Te iqaeoiuc
of our mints to the free aud uo.imttrd
coinage of gold and sliver at la to 1 would
immediately result in ri btcrlcg s.lvcr to
tho comaxe value of Jl.ilj tcr ounce, cot
ooly here, but everywhere. 'Ifcat ttere
tould lie do diJerence between tl:edo:lar
coiued and tho satne weight of stiver uu
oiued. when oue could be txcha:igd with ;
the other, needs no argument,
vVe do not believe that the gold dol!r
would co to a premium. becAuae It could
not hud abetter coinage ratio eltewbere.
and because tt could be put to no purpose
lor which a silver dollar would not be av
good. If our ratio were 1 to 14 our gold
would of course betxenaoged for silver;
but with our ratio of 10 to 1 gold Is wortu
more here than abroad, and lorelgb silver
weuld not come here, because it is circu
lating at borne at a bettor ratio thau we
could offer.
We need not concern ourselves, there
fore, about the eoin silver. All that wc
have to take care of is the annual product
from the miues, about 4ti per cent cf which
la produced in this euur.lry. Lndor the
Sherman law wo furnisn a market fur
about one-nurd of the world's annual
product, 1 bellove about one-sixth is
used in me art, witicti would leave
about one-halt for all the rest of the world.
India lias suspended freo coinage tempora
lly, in anticipation of the repeal of the
bherinun law. The ilerscbeil report ex
pressly states that the action was neces
sary, because uo agreement with the
United btutes could be secured. The
langusge Is as follows;
In a dispatch or the (Lit of June, 1K2, the
government of India cxpresvod thu deliberate,
vplutuo, It Iwcnuie clour that loo liruit
kflK con ferooco was uiulkuly to arrlvn at a
sutlstactory conclusion, uud If a direct a:rre
11111111 Uiimtii India and the fniu-.d btatns
wuro found to tie uualtalnalile. the govorii
tuuiit uf India slionld lit onco ciM its tiilnto
to tne free eolouire of ittlrr aud make ar
rangemeuls for ike Introduction ot a gold
There is no doubt of the restoration of
freo roloaee In India if this government
takes tlie lead, and with India taking the
usual amount, but onu-alxtli of the annual
eupply is left lor the other ellver-uilng
countries. There cau be uo Mood ot stiver,
nor will prices rise to any considerable ex
lent -except the price of sllvsr itsuif and a
few ot the staple products of agriculture
which have fallen with silver because ot
ludia's competition. General prices cau
uot rise unless the total number of dollars
Increases more rapidly than the need for
dollars, which has beeu shown to be Im
possible. The danger Is, that taklug ull
tho gold aud all the stiver, we will not
have ouough money, and tost there will
still be sums appreciation iu tlie standard
of value.
To recapitulate, then, there Is not enough
of either metal to form the basis for the
world's metallic money; both mutals must
therefore bo used at full legal tender pri
mary money. There Is uot enough of both
n.ctals to more than keep pacs with tno In
creased de.uand tor money, silver cannot
be retained In circulation as a part of the
world's money If the United btates aban
dons it This nation must, therefore,
either retain the preseul law or make some
further provision for silver. The only
rational plan Is to use both gold and sliver
at some ratio with equal privileges fit
the mint. Nochauge In the ratio can be
made iiitulligeutly uatil both metals arc
putoa an equality at the present ratio.
1'Im present ratio should be adopted if the
parity, can be maintained; aud, lastly, li
can be.
if these conclusions are correct what
must be our action on the bill to uncondi
tionally repeal the Klierinan law? The
Sherman law has a serious defect; It treats
silver as a commodity rather than us a
money, ami thus discriminates between
silver and gold. The (Sherman law was
passed Iu 1S:J as a substitute for what was
knowu as the liiand law. It will be le
memuered mat the liiand law was forced
upon the silver men as a compromise, and
that the opponents of silver sought Its re
peal from tho day It was paused. It will also
be remembered that tho Sherman law was
lit like manner forced upon tho silver men
as a compromise, and that the opponent,
of silver have sought Its repeal ever since
It became a law. The law provides for the
compulsory purchase of M.wo.uoo ounce
of sliver per year, and for the lesui of
treasury notes thereon At the gold value of
the bullion.
These notes are a logal tender and are
redeemable iu gold or silver at the option
of the government. There Is also a clause
In the law which states that It is tho policy
of this government to maintain tho parity
belweeu tho metals. The administration,
it seems, has decided that the parity can
only be maintained by violating a part of
the law and giving the option to the
holder instead ot to tha government.
Without discussing tlie administration ol
the law lot ut consider tho charges made
The mnln objection which we heard last
spriug was that the treasury notes, were
used to draw gold out ot tho treasury. If
that objection was a material one titc bill
might easily be amended so as to make the
treasury notes hereafter Issued re
deemable only in silver, like
the silver certificates issued under
the liiand law. But the objection is
scarcely important enough for considera
tion. . While the treasury notes have been
use to draw out goid, they need not have
t een used for that purpose for we have
fittd.OJd.OiMJ worth of greenbacks with
which gold can be drown so long as the
goveruinent gives tho option to the holder.
It all the treasury notes were destroyed the
greenbacks are sufficient to draw out ths
r-I00,wo,0oo resorve three times over, and
then they cau be reissued and used again.
To complain ot the treasury notea w bile
the greeubacka romalu la like finding fault
because the gata ts ooen wlieu the whole
fence Is down, and reminds rau ot the man
who made a box tor his feline family and
rut a big hole for the cat to go la and a
little hole for the kittens to go in, for
getting that the large hole would do fur
cata of all sizes.
Just at this lime the law Is being made
the scapegoat ujmn whim all nur flnannial
Ilia are leaded, and Its immediate and uo-
coudltloual' repeal la demanded as the sole
moans by which prosperity can be roitored
to a troubled people.
The mala accusation against It Is that it
destrovs confidence, aud that foreign
nioucy will not come here, because the
no der is at rata mat we win go to a silver
standard, lho exportation of gold has
been pointed to as conclusive evidence
that trikiiienea r.uguan eonjrioiaera were
throwing American securities uoott the
market and eilliag thnut M our twupU la
xthaage for gold. Hut now told ia com
ing bunk (as ter than It went away, aod still
w have the Mieiutaa law unrepealed.
isinee tkst in sory will pot explain both the
exDortaud tmiHiftof goi4. let usaeeeat a
theory sthieii will. The baisme ( lude
has been lariy sgtiast us during iaa ial
year, aa.l gold weul atroa4 to pay it, out
new our eipoitailou ot lr.uutiii hat In
errated sad the gold It returning, tu go
Ina was aggravated bv the tact that Au
liitlUutftr a gaiuetiue tu goM ut
rveaiapiioa aal wtt iMmiiic4 Iu take a
pft tiunt we. Inttea I of using that evi-ot l
of old at a teua tor imm to a ui4
basis, a uuiitt hi make a rvuiWe the dsn
ger of depending solely poi a metal uua
uwiae oihef uti ut uttj deprive ut ot at s
e.'tiival uioioertt.
I ae .ntri!i t let tUt utterly to aceounl
vnure, feseoaab.e taw f the t,ti. tr-ruig aa elttttpt wtt wale i ifiii
the iifditkiitt r- ctAl ot imi S.wuntii
Ut, v Kvl j iitau thta, lot l ie tt 4
f.ittea wklea ka always eytHi suv
htst.U ft-tii' t "f .!' U 1
tai tut pan Mte ef bull!. tkil4 st..
mat who l lieve tktt M' evat rte
auatt a bank sate bamet tWUteae4 Ut
v t tvt etet rewtve taght nolle
- l HMWli' .
wnt l an tstue oT gold bonds, f lie great
argument feted in favor of btn.u
propositions was that mouey was being
drawn from the treat ury a-d tent to i-u-roe:
that confidence was being ietrore4
and that a psuic would follow. They ei
phasi.ed au magnified the evils which
would folio t e departure of goid: they
worked tiit'iuiK.',ves aud their associates InUi
a condition of fright which did cause finan
cial stringency. Uke the ruaD who inno
cently gives the ale im of fire in a crowded
pal", luey excited a panic which soon got
beyond coutioi.
TZr trouble now is thst depositors have
withdrawn tneir deposit from the banks
tor fear of lots, and the banks are com
pelled to draw in their loans to prouct
their reserves, aod thus men who do busi
uess upon borrowed capital are crippled
The people have not lost faith In the gov
ernment or in the governmeut'e money.
They do not refuse sliver or silver certili
cates. They are glad enough to get any
kind of money. We were told last soriug
that gold was going to a premium, but re
cently la New York City men found a pro
fitable business in the selling of silvercertili-caa-s
of small deiiommstious at 3 per cent
premium, ana on the Ctu of this month
there appeared In the New York lleralj
and the Mew York Times this advertise
to pui at a premium of it per cent, or (7
per tiioukuud, stuudurd sdvur dollars, in sums
of tl.uoj or more. In teturn for our cert i fled
checks paysble through tht clearing houb
Hunkers, 11 Wall street.
About the same lime tbo ftew Yoik
police force was paid In tM gold pieces
because of tho scarcity of other kinds of
money, llow many of the filling bankt
have obejed the law In regard to reserve?
llow mauy have crippled ihcmeelves by
loaning too inu.-li to their officers and
directors? The situation can be stated In a
few words: money cannot be aecured to
carry on business because the banks have
no money to loan; banks have no money to
loan because the depositors have withdrawn
their money; depositors have wlthdrawu
their money because they fear the solvency
of the banks; enterprises are stagnant
because money is not In circulation.
Will a repeal of the bberinan Jaw cure
these evils? Can you cure hunger by 'a
famine? Wo need money. The tiherman
law supplies a certain amount. Will the
stringency be relieved by suspending thai
lis ue? jf the advocates ot repeal would
take tor their buitlo cry, "Mop itiuioi:
mone,y" instead of "Stop buying silver.''
would not their our pone be more plain?
liut they say the repeal of the Jaw will
encourage foreign capital to come
here by giving assurance that
It will be repaid oo a gold
basis. Can we a fiord to buy confidence at
that price? Can we altoid to abandon the
constitutional right to pay In either gold
or sliver in order to borrow foreign gold
Willi the certainty of having to pay It buck
In appreciated dollars? To my inlud, Mr.
Speaker, the remedy proposed seems not
ouly daugeroua and absurd, but entirely
Inadequate. We do not cure a headache
by putting a mustard plaster on the fuel;
why try to borrow foreign capital to order
to induce the people In this country to re
deposit their savings in ths bauks.
Why do Dot these financiers apply the
remedy to thu dlten led part? If the gen
tleman from New Y'erk (Mr, llendrlx)
who said, "1 have oome Into this ball us a
banker, 1 am here as the president of o
national bank," desires to restore confi
dence, let him propose for the considers"
Hon of the members a bill to raise by a
small tax upon deposits a sum suttlclent to
secure depositor against possible lost;
or a bill to compel stockholders
to put up security ' for their
double liability or to prevent stock
holders or otllcers from wrecking a bank to
carry on their private business; or to limit
the liabilities whtchabauk can assume
upon a given amount of capital, so that
there will be more margin to protect Its
creditors; or a bill to make more severe the
punishment for embezzlement, so that a
man can not rob a bank of a half million
aud escape with five years, aud can not be
hoarded at a lintel by a marshal, while tho
small thief suffers in a dungeon. Let him
proposo some real relief and the bouse will
be glad to co-operate with him.
Or if there is immediate lelief neces
sary in the increased issue of payor money,
let our financiers press the suggestion
tnndo by the gentiemau from Ohio (Mr.
Johnson), viz., that tno holders of govern
ment bonds ae allowed to depohlt thorn and
draw the face In treasury notes by remit
ting tho Interest and with tho power of re
deeming the bonds at any time. This will
givo Immediate rollef and would save the
government interest on tho bonds while
the mouey Is out, Hut no, tho only rem
edy propused by these humidors At thlr
tune, when business is at a sUtitlxtill and
when men are suffering unemployed, Is a
remedy which will enable them to both
control the currency and reap pecuniary
One ot the benefits of the Sherman law,
so far as tho currency is concerned, Is that
it compels the issue of a largo amount of
money annually, and but for this Issue the
present financial panic would, Iu my Judg
ment, be far more severe than it Is. That
we need an annual Increase. In tho cur
rency Is urged by Mr. Sherman himself iu
a speech advocating the passage of the
Sherman law. On the 5th day of Juno,
l.Ki, ho said in the senate:
Under tho !nw of February. 1K78. the pur
ohusu of tu.uoo.ouj worth of silver bullion a
month has by ciln.ura p,-oducud annually aa
average of nearly HifcO.OM pur mouth for a
purlod of twelve years, hut iliis amount. In
View of tho retirement ot tbo bank notes, wlil
not IncretMD our curreucy Iu proportion to
our tnctvatiliig population. If our present
currency is ettimaiud tit LliX),ooy,u KJ and our
popillnl Mil in ilicrmuiiiig at Uio ltlo of li rK.r
rent por annum. It would require st.uuo.uiU
Increased ciroutatloti cacn year to keep pace
with tliu tnerie of population: but as the In
crease of population is accompanied by a still
KMter rails of incroaia of wu.Utli and bul
in-,. It was thought that aa ImtnedlnUi In
mnwsof t'lrcuUuou uuglit bo oiitalned by
larger lurclm of silver biitlluu u an
amount utitHcutnl to uiuke good lhaautning
thai UW-V.'Vj a Jrarof B0d'tl'nl eurr-mv It
ntwdml upon this hsil, tli il auiouni l pro
vided for la tuts bill by Ike Uiuo of treasury
motet la etching! for bullion at the umravt
This amount, by the fall lo the price of
bullion silver, hs been largely reduced,
hhall we wipe It out entirely? lie Insisted
that the hhermaa law gave the paople
more money than the liiand law, aud uooo
that ground lit pattage was defended be
fore the ittopie. Could II bsve been patsed
had It given less thaa the liiand law? Who
would have dared defend it If It bad pro
vided for no money at ail?
What provision shall l made for the
future S I tMta that quetltow our ppaneula
aietilenl. The bill which they have pro
posed leaves us with no lucieatMl currency
provided for. Nan of tu advocate ot a
gold atandard, In detente ut their theory
and U eeectttry todttoute every watt tt
tablitbed principle ut gnaue
We are told that at eivllUation Increases
credit lakee the pUee of mane), and that
the voiaui of real money can bwdinuu
Ittted f.lNoul dtnger. It yoti wlil ptMun
ui, 1 tin i. mlii Unl the wan wn icoif
reived the I4t that a aM eeuid be mtde la
In wit.-)ut w.ttr. At iht tt.ur gat, he
put a hefting, lrtn Irowi the a, is a Jar
ufst tathr, lly teiuuvlhg a bul eve'i
n.op tug and adding ri water he grt iw
any k-JMitouie-l it t ttvih wtuir. t uta
bv gr vlut.U leJt..viiil the Iwvtli wtlet he
t.i. an i'i .. it i.t air, tad uu in kept it ia
a4iiiiea bill, tlie Jr, iu hit ah
tn, bit tetvtat pit'- I a i-Jp tf Ur H
I'im 1 1 In uMvttr litt tue atu tti!ht
fa lie l4; but A ail htu tS iviavlrf ti.iru he fiHiul tatl ths ua bl
lli.n.tMiil ml Ut lain ti.e Wtler
a4 diu4
(tVMtiib4 vo Hud I
Institute cf Shorthand 4 Typewriting
The OJdett ard Bm BQtoeji CoVege in the
Went. Faculty exp-rientl. No vacation.
Thouitands of Ur.rtuu-s nd old etndeota oc
rtipylng paying atid reixmslble prxjitlor..
VVrlie for catalogue and circulars be !ure decid
ing where Ut atlcud ooliet.
Omaha, Neb.
Cancers Cured.
I will eev liberally for the namts aod addresses
ot persons sutkring from csnctr. Gasrsntcc s
ermaocnt cure or no cnarge. .u ntun u casr
has brrn given qp by othrrs, write me at oner
Hkvicians suoDlkd wi'.h remedy st liberal di
count. Fell txa.edj and instructions ier ttJ,
ti-estnwt, ttn.
, Fort Payne. Ala.
PATARRH HAve you cot 'IT7
UAIAnnn ft so, try my Medicine.
It Is a sure cure. Try it and b convbiced. You
will nvr rnrrl It. Sent br mall to anv ad-
tirena. Krir One Mlar. JOHN P. IIOKK, VA
Clark Street, Chicago, Illinois.
Ladles' Fine Button and Lace Shots, 11.80,
tZ.BO. 13.00.
(ients' Fine Calf Lacn Shoes and Congress
Gaiters, 12.00, 12.80, $3.00.
MiHes' and Vouths' Celebrated Botton School
Dutton, SI. SO.
t JT8end for complete Illustrated Catalogue.
I hear good words only from those who pat
ronize you. Mrs, I-ouckt has patronized you now
for a year, and has been well pleated with the
purchases for the whole family. Wlien opportu
nity olfers, I thall alwayt be glad to say a good
word (or you.
II. A. Loijcks, Huron. So, Dakota,
I'm, National Parmtrs' Allianct
and Industrial Union,
149 Congrats SI. and 148 Franklin St.. BOSTON.
Molar Roots Banded
with Gold and Porcelain Crowns,
the finest and most durable
crowns ever made, and unexcelled
for beauty.
Removable Bridge Work
All Gold or pari Vulcanite.
We are putting np the finest remov
able bridge work on gold and French
Vulcanite ever made, superior to any
thing ever before offered to the public.
Can be worn with the greatest comfort,
and costs less than ordinary bridge
work. Is easy to repair, but seldom
breaks or needs repairing. We also
put up artificial tooth with gold palate,
the finest artificial teeth ever made.
All work warranted first class or no
sale. This style of work Is supreme.
perfection for public speakers.
Aluminum can be used instead of gold,
1! desired. Tho back under molars eae
be restored with the greatest perfec
tion which are so useful, and prevent
the cheeks from sinking In,
Fine gold fillings of pure gold atverf
reasonable rates.
Dr. A. P. Burrus.
(booms 9 axi io, lios o sinskT,
The WorlU'a Fair.
The aeatlne? ratiaottv of the re. tail
rants at the World's Fair grounds It
sliiy tAiuisana ptwpie. iney range tui
the way fru the tooduet lunch counter
arhrA vou sa nbtain a vitod nlala
meal lo thirty or forty ceota, to the
expcntive) cat w men c r vee a tu course
dinner for two dollars.
Lots nf rvoidx t rine' a lunch basket
with them and thus get through the
Uav at a user it nuruuiat puuay.
The Murllngton rvuto ageaia at lie
pot or rUy pfnew Cvr. t aU luh Hta,
will be la4 tu furnUh full U'orniatioii
rvrardlait' prltw tl tlvaeU, lit cf
train, env.
ea '. M! i '"''!-' -'! ,! n...ipi.!
8, Joseph Uuggf t'o, farrUffi s aod
lljgifU't at Kvtttt prbvt. t'autlojfue
and priiv Ut frvd, tih en4 MeMi.le
JU , bt. Joe Miv
I'te NorthweaUrt Uo to ItiUm-w.
low rates, last tratas, OHvollia
SI.entT SJe.
Notl- 1 b. rtT siren ikat tr virtue of to
' J-:r:rl t t irr m ih dutrtct
j eiurtoT"iii "'Thir( iutll-ial district of N'e
S braka. wuhln aud fur Ianeair county, la
I an aetioa wbereia Henr.a W. Krevp U pUtO-
u3 ard Tbwvlor F. Hames t- delendant, I
will at S o c;x-ji p iu on i be llthdavof hep
temNrr. A. D. 13. at the east door of tbe
couil bottte. in the citr of Lincoln, Lancaster
connty, Nfrai.Ua, .ffer for ile at public ue
t4on the followlug dt-MTitMd real estate, to-wit:
The nortbwMi quarter, and the eorth half
of the tooth wvet quarter of section (4 four,
township (II) levrn. raoge &, eabt, in Laa
canr county, Nebraska.
Given under my hand thfsttb davof Aoinist
A. D. bA.M M'CLAY, Sheriff.
Notice to Bridge Contract
Kntlee it herpby given thst sealed proposal
wtll be received by the county clwk of 8aun
der county. Nebraska, at tbo court heuae la
Wabon. until noon of the Mb day of Septem
ber, 1KO, for t be furnishing of all material and
erection of the following bridges in said
One brldjre at Prague f! feet long, across the
lanre draw Just north of town. nr railroad
track. One span 20 teit long on south end and
three 24 fool spaas. Spiling 28 fet loos to be
drive n Id center of draw, and 9 plllnir 10 feet
lone for remainder of bent to be driven so
bridpe will be on a level, S feet lower than
south bank. .
bridgi no.
One brldire between sections I and t. town It,
ranue 8. aero, a branch of Wahoo Creek,
known as the Putney brliiue. Bridge to be 63
fee' Iwk, midd'e span 24 feel Ions, on at each
end it feet long, plllnR 2 feet Ioik in mlddlo
br,nM ?J,,!lnit 15 ,et '"UK at north end and 3
piling 16 feet lonir at south end to be drt ven to
bridge will be tame height aaold bridge.
One bridpr 84 feet lonit on north and south
quarter line, section JH. town 13, ranee 9
arrow lb Wahoo creek, bridge known aa the
Henry bridge The south pan to e lfeet,
long, the north span to be 20 feet long, tmiddle
spans to he 24 feet long, S tiling at each end. to
be 16 feet long, 9 plllnir for ibe middle spans,
to be 30 feet long and driven so new bridge wilt
be same height as old one.
One bridge V feet long, between sections 5
and 8. town 14, range 0, known as the 1'belan
bridge, piling to be is feet long and driven so
that the new bridge will be the tune height as
the old one.
bridgbio. 8.
One bridge 48 feet long, across Otoe creek,
between sections 8 and 10, town 15, range 9.
known as the Hlnhop bridge, epans to lie 84
feet long, 8 Dlllnu at each en if ia fui i,n
piling In center 24 feet long, piling to be di lven
to bridge will be level with bank on eat side.
Bnirc;e o. 6.
One brldire 48 feet lonir a rna. Hnvtn rh.i.
known as the Utdley bridge, between eeccions
15 end 10. town 16, range . One span In center
to be 24 feet lonr. and one span at each end to
be 12 feet long. 6 center piling to be 20 feet
long. 6 end piling to be 16 feet long, piling to
ne driven down si the new bridge will be t
feet higher than the solid bank on the south
BBinci No. 7,
One bridge 40 feet lonir bet ween uutllmi, IK.
and 10. town 14. rarge 5, known as the John
M llacek bridge, one span to be 24 feet long and
one span 16 feet long, 3 ptlSkg in center 20 feet
' vki"k m eacn ena ie reel long, driven
so bridge will be 1 foot higher than old bridge.
One bridge 86 feet lonir acroaa PnOnn
creek, between sections I and 12, known as the-
nasper oringe. i span 24 feel long end 1 spsnr
12 feet long. 6 piling 20 feet long, 8 oiling to be
in im "ia so oriuge wui be 1 feot
higher than old bridge.
One bridge 48 feet Ions across th main w
between sections 8 and 10, town 13. range 0,
known as the Palm bridge, S spans to be 84 feet
long, f piling to he 16 feet long, driven so
bridge will be 8 feet high at east end. T
BRIDOl no. 10.
One bridge 82 feet Ions between
and 35. town 14, range 8 across Silver creek, one
span 30 feet long and one span 12 feet long. V
piling in center, 24 feet long. 8 piling at each
end 16 feet long, to be driven so bridge will be
2 feet higher than old bridge.
au asm nnagosarow nave sixteen feet road
way Maid bridges I o be built in accordance
with plans Details and specifications on fllo
for refe'ence in the office of the county clerk
and with the several specifications above
All bids should state the sum for which each
bridge will be built, referring to the number
thereof as above, and may atate the gross sum
for which the bidder wtll build all said bridges.
Plans and specifications, conforming to the
plans, details and specifications above referred
to mum accompany each bid. Kaon bidder
thonlil accompany his bid by a certified check
or draft for 1200 payable to Sauuders Countv
as a guaranty of good faith, to be forfeited if
be fail afterward to enter lntocontract and
give bonds in accordance with his bid If the
same be accepted. The right to reject auy or
all biis reserved. W. O. Kawd,
' ' County Clerk.
By order of County Commissioners. 8 4t
Missouri Pacific Railway.
Ticket Ofllce at Depot and corner Twelfth and
O Streets.
Leaves. Arrives.
Auburn and Neh Citv Exp,.,
St, Louis day Kxprrst
Auburn and' Neb. City Exp.
St. Louis night Express,.,,
it:a5 pm
ta:5 pm
9:50 pm
0: jo p m
e ao p ml
0:4 s m,
:45 a m-
8: 15 a m-
Union Pacific Railway.
Leave. Arrive,
t p:ot am 1 7:S9?m
17:45 a at 8:45 pat
1 6:30 pin 1 10:40am
ea:4S p m' 3:50 p m
t 7:59 p m to:os a m
OmAha, Council Bluffs
imcago, valley, east
anil west 1
Beatrice, blue Springs,'
Manhattan cant and
west, Toncka, Kansas
City, east and south.
David OitV. Stmninhurtf
Sioux City, David City, 1
oiun mis, Denver,
Salt Lake, Helena.
San Francisco and
Beatrice and Cortland. . .'
Fremont, Elkhorn- and Missouri Valley.
Uepot corner fcigbih and Bstreete. City ticket
ofllce 1133 O street. '
Wahoo, Fremont, Nor- I
IOIH, l.imi; 1'inc, t Adit
ron. O'Neill, Dead
wood, II lack Hills and
Wyoming points,
7:30 a. m t s so p ir
Omaha , ,,
7:30 a m; u jl p m
t t:i p ml
Wahoo, Fremont, Mis
souri V'sller, CnUr
rtaiiU, ChicaKO and
haM M.uliM.n, Mil.
waukea, Kioss Cay,
MinmaMis. bl. I'aul,
Uululh aud Northwctt
t'.io p m,e u Jp m
Fremont Aecom'dalloa
V 11-ai p m i 7: it a m
Use Northwestern lino to Chicairo
Im rfttes. last trains. Ufilcw ll'43
Harbor Fnwler bav some cf th
cheapest properly In Mocolo for sale.
It you bave a good, clear farm anj
wanttd fet Lloooln proiHirtr, write,
and they wtll find yon a firsKlans deal.
IUkiikh A; r'owt.kR,
lUmia 10, Ml Q btroot.
North Wt stern tine ! Sleeper
and fast Chicago Train eloe.
A peklaee car fur Unooln wople I
now attached dally to th Chl f Iha
tfvd leavtnf Uocola at t2t. N'o belwr
servlcf, ttiwosi rates.
Vot tlVket borth reaervatlone etc ,
fall at ftlv ontoe 1 133 O street, er dvpot
IVr, ti and lh slrroU.
1 11 1 a
CU llev .S'atlermaa A for
r4trric. cona, tiltdert, aud all
farm twi!imeiats, We'll use jot rltfnt.
XI) ekHUU Mntlt ft.Llaftda.
Vm North wMrtrtQ line ti f'hkatfn.
Iaiw raws, last Iraita. Vtt U14
""'sssWSslliii en,