HE AMERICAN
3
TARIFF AND F.NANCE.
IKvptiblUhed by rvqueat.
In an editorial in Ut week' paper we
hare agreed to dttcun the tariff cd
financial problems for the benefit ot
our reader.
We begin the discussion with some
misgiving, because there are quot'.oci
which have been ablj bandied by but
few men; still, firm in the belief that
we have espoused the right cause, we
shall devote to it our best effort and
trust to ao (All Wise Ruler of the des
tinies of men and nations for guidance
and aid in the prestation of the facts
which are the foundation of our belief
and argument.
By common consent the viar 1873 is
accepted as the date from which this
discussion should proceed.
The-statistics which we have been
able to gather both as to the price of
products, 'population and money, show
some very strange things.
In the first place we find that the
United States had a population of 41,
677,000 in 1873, that the circulating
medium the same year was 1751,881,809,
or 118.04 per capita, and that the price
of wheat was 11.25 per bushel.
We also find that the money of the
country consisted of 125,000,000 in coin
and bullion in the United States treas
ury and $749,443,610 in paper money.
We alsoifiod that the population of the
United States in 1S95 was 69,878,000,
that the circulating medium was II,
601,908,473, or J22 93 for every man,
woman and child in this great big
country being an increase in the cir
culating medium of more that 26 per
cent for every man, woman and child.
This circulating medium is derived
from $1,260,987,506 of coin and bullion in
the treasury and $1,137,619,914 in paper
money, and shows our coin doubled itself
more than '54 times, and our paper
money almost doubled itself, while the
population only increased a little over
66 per cent. According to this, then,
our circulating 'medium increased a
fourth faster than our population. In
othenJwordB, if we had gcod times in
1873 and prior to that time when there
was but $18.04 for each man, woman
and child in the country, and it was
the supply of cheap money that made
tlmes'good, how do you explain why
times are not" correspondingly better
to-day than they were in 1873 since we
have $4.89 more for each man, woman
and child than we had in 1873? If it is
an abundance of money an Increase in
the circulating medium that improves
business, why in the name of common
sense are times not better now than
they were in 1873? We think we can
explain thlej point to your entire satis
faction. From 1861 to 1865 this coun
try was in a turmoil war wai raging;
'improvements! were being destroyed,
fields were being laid waste, towns,
cities and villages were being sacked
and burned; hundreds of thousands of
men, and. (millions of heads of live
stock were killed ; the granaries were
empty, the stocks In stores were run
down, factories and shops were idle,
and the whole people were lmpover
isbed. Suddenly a peace was declared,
The farmer went back to his field, the
carpenter to Jb.is shop, the smith to
his anvil, the painter to his staging,
the printer to his case, the laborer to
his work. On every hand a cry went
up for men to do the work. From every
quarter came'a demand for the farmer's
grain. The wheels of commerce were
set in motion,! the factories were re
opened, the shops were In operation
and labor was employed. There were
few if any idle men. Everybody was
working. Everybody was contented
Every body was happy. The merchant
was proeperous'be cause the laborer was
prosperous, and the farmer was pros
perous because (those two classes were
prosperous and not because we had
cheap money.
How is it to-day. Your country is In
a turmoil. The mills are closed, the
Ehops are empty, 'the laborer is idle,
the merchant is doing but little bus!
ness while the farmer has no market
for his crop. Yet we have more money
than we had in 1873. More money for
every man, woman and child than we
had then. Surely, then, it is not the
scarcity .of money that makes these
times so hard. It must be something
else. It must be'because the laborer Is
unemployed. i But how can he be em-
ployed?"oBy opening the mills, start
ing the factories (and shops and other
avenues of trade, And how will that
affect the farmer? It will give him a
home market for his produce. How do
we know this to be so? Because we
have just demonstrated to you that
labor of every character was not idle,
but was enjoying the fruits of its toil
during the years which the friends of
free silver tell you they desire to re
turn to. And the good times of those
years were not the result of an abun
dance ef cheap money, for we had less
tnoney then than we have to-day a
great deal less, 26 per cent less, or, to
be plain, $4.89 less for every man, wo
man and child In this country.
It is not more money we need to
make us prosperous. It is more work
for the laboring classes. Of what bene
fit to the farmer is a man in the city
who is out of employment and out of
money? Can he buy a peck of apples,
or a bushel oT potatoes, or a pound of
flour or meat? No, sir; he cannot.
He Is of use to the farmer only when he
has work. He cannot get work while
there is any show of the country going
to a silver basis, because, capltai will
not seek investment in enterprises now
struggling to exist or in those In con
templation of establishment while this
giiation for the free and unlimited
coinage of silver continues.
Now, what is the difference between
the way we have coined silver up until
a recent date and the way it would be
done under the frte and uulimlted
coinage plan?
Under the law that the last congress
repealed, the government bought
monthly 4,500,0(10 ounces of silver bul
lion of those having it for sale, prin
cipally from the silver mine owners in
the states lying west of Nebraska, Kan
sas, Texas and Oklahoma, at the same
price those mine owners could sell
their silver for to any other customer.
Would the farmer want more from the
government for bis products than be
could get for the same thing from a
private individual? Certainly not.
But these mine owners do, and we will
show you wby in a minute.
Under the law that congress re
pealed the officials of the treasury de
partment bought silver bullion at its
market value so much per ounce, and
as the market price of silver was but a
trifle over 92 cents per ounce the gov
ernment would give the mine owner
his pay in notes which were a legal
tender for all debts, public and private,
unless otherwise stipulated in the con
tract. This law was enacted solely to bene
fit the silver mine owner. It was done
to bolster up the price of silver, but
from the day of the enactment of that
law until 1895 silver steadily decreased
in value. As a consequence the actual
value of the bullion In the dollar was
not known from one day to another.
In 1878 an ounce of silver was worth a
little more than $1.15. Ten years after
it had dropped until it was not worth
94 cents, and in 1893, when the law was
repealed, it was worth but a trifle
more than 73 cents, while In 1895 It
was quoted at 65 2 5 cents. Had the
government continued to buy silver and
had It dropped to 50 cents and less per
ounce, we would have been able to coin
two dollars out of one dollar's worth of
silver one of the dollars would have
paid for the silver used In both dollars
and the other could have been hoarded
In the United States treasury. Under
free coinage how would It be? Sliver
was quoted at 65 5-8 cents last Satur
day In the Cripple Creek Daily Timis
That would mean that a dollar con
taining 371i grains of pure silver would
be worth in the neighborhood of 53
centsi Then, If a sliver mine owner,
or a speculator in silver not the labor
ing man, not the farmer, not the mer
chant or the artisan but the monied
class which has grown almost as rioh
mining silver or speculating in it as
the Goulds and Vanderbilts have in
manipulating railroads; almost as rich
as John D. Rockefeller has In manipu
lating the Standard Oil Trust, and al
most as rich as Carnegie has by the
management of his mammoth iron
works those people, the silver pluto
crats, the silver barons, could take
their silver to the mints and have It
coined into dollars and every ounce of
pure silver would net him give him
a profit of another silver dollar, If the
price remained as high as 65 cents per
ounce, and if it fell below 50 cents, as
It did in 1894, his profit would be even
greater about $1.05 on each dollar's
worth of sliver he took to the mint and
had coined. But the price of silver
will go up if we get free coinage; you
tay. That is merely an assertion and
proves nothing. We might contend
with equal reason that free coinage
would drive the price down. That also
would be an assertion and would prove
nothing. The thing that will regulate
the price of silver will be the law of
supply and demand, the same law that
regulates the price of wheat, of pota
toes and of cotton. If there is more
silver produced than can be used the
price will naturally go down; if there
Is less produced than can be used, the
price will go up, because those needing
it will bid one against the other in the
hope of obtaining what they need;
whereas if the supply exceeds the de
mand, those buying will jew the owner
of the product down to the lowest pos
sible figure.
Let us look for a few minutes at the
silver "crop" since 1792. From 1792
down to 1870 the output, the produc
tion, or the "crop" of silver did not ex
ceed $56,000,000 in value. From 1870
to 1894 it had increased, according to
the United States currency statistics
quoted on page 88 of Sound Currency,
to $213,000,000. la other words, for 78
years next preceding 1870, the mines
of the United States produced but $56,-
000,000 worth of silver, while from 1870
to 1894 twenty-four years they pro
duced $157,000,000 worth of sliver. To
be plain, the mines of the United
States produced $717,943.72 each year
up to 1870, and they produced $6,541,-
666.66 each year from 1570 until 1894.
And now, to further illustrate, the
mines of the United States, prior to
1870, produced but one-ninth as much
silver each year as they did from 1870
to 1894. Or, probably It would be
plainer this way: The mines of the
United States produced, after 1870, and
up until 1894, $5,823,717.94 more each
year than they produced each year
prior to 1870. Do you wonder, then,
why silver is cheap after reading these
figures? Suppose each farmer In the
United States for 24 years would raise
nine times as much wheat as he raised
this year, and the population of the
country did not double iuelf once,
would not the price of his product fall?
Most assuredly it would. You could
ot onsume nine times or even four
and one-ball times as much flour each
year hereafter a you are consuming
to-day. And If you did not wheat
would be a drug in the market, the
price would go down, and. the farmer
would bj compelled to stop raising
wheat or sell it at the then current
price. We venture the assertion that
if such a state of affairs did exist you
would not hear of the farmers getting
up a scheme to have the government
pass a law authorizing the purchasing
and grinding of all wheat in order to
keep that cereal at a stipulated prloe,
as you see the silver mine owners are
doing to-day.
We might carry this discussion of
the silver question to a greater lengtb,
but as this article has already exceeded
the space we bad allotted t J it,we will
bring it to a close in a few short para
graphs. We will ask you, however, before we
close, what you understand by free sil
ver? If you do not own silver, or a sil
ver mine, how will the free?coinage of
silver benefit you? If you get a dollar
of it you will have to work and earn it,
or you will bave to sell something.
That Is the only way you will get it.
And if you work you will get your pay
In a dollar which you do not bave the
least assurance will be worth even fifty
cents six months or a year after it is
coined. Money is worth only what
people will give for it. Not a bit more.
If we deal with a man in England or
Germany or France and he will take
our money only for what Its bullion
value is, and that bullion value is but
one half as much as Its face says It is
worth and you desire to buy some of
his goods from us, do you suppose we
would sell them to you for one-half
what they cost us simply because your
coin said it was worth twice as much as
the law of supply and demand said it
was worth? No, sir; you would pay
the difference you would stand the
loss. If you had sold your wheat or
your stock, or if you had labored and
bad been paid in silver dollars which
the markets of the world said were
worth half as much as their face said
they were worth, every merchant In
the country would mark his goods up
100 par cent and you would have to pay
twlca as much for everything you use
as you do to-day, and would be a loser
from 25 to 30 per cent on every dollar
you got for your wheat or for your
stock or for your labor, since neither
farm products or labor would increase
100 per cent. That would be a claim
that the most blinded free silver advo
cate would not ba brave enough to
make. Tbey admit that farm products
will not increase as rapidly as silver
and that labor will be the last thing to
Increase in price it their scheme to
have the free and unlimited coinage of
silver saddled on this country carries.
They all admit this. To contend other
wise would be an evidence of a lack of
thought upon this subject.
In a preceding paragraph we have
shown that the enormous output of all
ver from the mines of tbe United
States from 1870 to 1894 had the effect
of reducing silver from $1,328 in 1870 to
$1,152 in 1878 and to 65 2-5 cents in
1894 to less than one-half. Lst us see
what has been the effect of the same
immutable law upon the price of farm
products.
In 1870 the south produced 3,150,000
bales of cotton as against 9,900,000
bales in 1895, and cotton was worth 11
cents in 1860 and 12 cents in 1890 1.
The American hay crop amounted to
25,085,100 tons in 1870; and to 65,776,158
tons in 1895. More than two and a
half times as much.
The oat crop for 1870 was 282,000,000
bushels; for 1895, 825,000,000 bushels.
More than three times as much as was
raised In 1370.
The wheat crop for 1870 was 288,000,-
000 bushels; for 1895,470,000,000 bushels,
or nearly twice as much as was raised
in 1870. Taka this in connection with
the fact that Russia and India and Ar
gentina have developed Into great
wheat exporting countries since 1870
and you have the solution of the prob
lem of cheap wheat.
It will not be out of place to state
here that the finance committee of the
United States senate made a report in
1893 showing the price of farm pro
ducts from 1840 to 1390 1. In that re
port barley wa3 quoted, in New York,
at 77 cents in 1860 and 95 cents in
1890-1; corn was quoted in Chicago in
1860 at 43 cents, and in 1890-1 at 58
cents; oats on the same market in 1360
at 34 and in 1390-1 at 58 cents; wheat,
No. 2 spring, on same market was
quoted In 1860 at $1.02 and in 1390-1 at
$1.03. But, after all, prices are better
to-day than they were before the war
when we were under the beneficent pro
visions of the act which was, repealed in
1873, and this fact more than anything
else convinces us that the war and not
the statute which was wiped off the
statute books In 1873, was responsible
for the good times which we enjoyed at
that time.
Lest some critic may fay we have
reasoned falsely as to the law of supply
and demand in relation to either sliver
or farm products, we will say we have
taken into consideration the fact that
silver increased nine times while wheat
Increased less than one time. S) from
this we conclude that tbe secret of our
prosperity was not In an abundance of
cheap money but an abundance of work
for all clasws when there was a
market for all labor as well as for all
products. Lh us open the mills, and
the shops and the factories, let us put
tbe Idle work nun bick to work, let us
enact a high protective tariff for his
prut jctlon and for the protection of our
farmers and our manufacturers, and we
will have approached nearer the mil
lennium than ever before.
Just one more thought, and then we
will dismiss the subject for this week.
Contrary to a gjneral belief, tbe pres
ent sliver dollar i a legal tender for all
debts, publio and private, of whatever
amount, except where otherwise speci
fied in the contract.
At some future time wo shall take up
the question of "Ratio, Protection and
Labor."
Cripple ( reek.
The Denver and Rio Grand R. R. Is
the shortest and bust route between
Denver, Colorado Springs and Pueblo to
the now Famous Gold Camp at Cripple
Creek.
Tickets on sale from all points east to
Cripple Creek. Call on your local
agent and be sure that your ticket reads
via the Denver and Rio Grande R. R
Florence & Cripple Creek Railway.
KIO OKANDE.l
SOUTH BOUND. HOHTH BOUND
OHTH BOB
Head Dp.
Uead Down
No. s;No,10 December IS, 1895. No. 7 No. I
9:110 pB:30a
9:40 p H:;a
9:60 p H:47
10:00 9:ima
Lv.. .Cripple O...
....... Anaconda..
Elktou
.Victor
Ar....Klorence....
EAST.
Lv.... Florence. .,
Ar I'ueblo
......Colo Hprlng.
I)enver
WE8T.
Lv... Florence....
Leadvllle...
UlenWOod ..
Atptn
.Ball Lake..
..Oicden
Ar
7:30 a
5:05
4:55
4:40
iM
2:00
12 3fta:U:25a
1:20a
t 30 a
4:07a
7:15a
No. i
ft:10a
1:02 a
9:22p
7:20 p
7:56 a
7:00 a
11:40a
12:!Ulp
1:39 a
5:0ft p
12 2fa
10:50u
nop
2:,fti p
.vaip
No. 4
4:27 D
11:16a
7: tap
8:30 a
No. 8
No. 1
Ar
12:5lal
1:55 D
V'-.Mt
:05a
A:55 p
8:la
15:50 a
10:05a
10:(Mp
12:0p
a
7:40 p
ll:4Au
l:40u
6:35 p
12:45a
t-.ua p
Train No. 10. 8:30 a. ru. direct for Pueblo,
Colorado Borings and Denver, connecting
with through taut train for all point! euit
and south. At Florence with thruuKh train
on the Ulo Orande for Leadvllle, Aspen
Olenwood, Grand Junction, Bait Lake,
Ogden. California and northwestern point
without change of can. Pullman Palace
Buffet and Tourist sleepers.
Train No. 8. 8:30 p. in., the handsomest
train In the mountains. Pullman sleeper and
Parlor cars, seat free, without change to
Pueblo, Colorado Hpringa and Denver, con
necting with through fast train for all
pointaeast. At Florence with Klo Orande
Trans-Continental limited and Ban Juan
and all Southern Colorado points.
Tickets through to all foreign points at
lowest rates. Agent for the best steamship
lines. Tickets furnished by telegraph with
out extra charge from any part of the world.
Lowest freight rate named to all point.
Prompt handling of ore a specialty. Dally
refrigerator service between Denver and In
termediate point to Cripple Creek and
Victor.
Suburban train for Victor leave at 7-45 a.
m., II a. m. and 3 p. m.
H. F. Krdeobh. W. E. Johnson.
Oen'l Agt. Prest. and Mgr.
Cripple Creek, Colo. Denver, Colo.
THE POPULAR LINE TO
leadvilie, glenwood springs
aspen, grand junction
cripple" creek
Reaches all the principal towns and min
ing oamps In Colorado, Utah and
New Moiloo.
PASSES THROUGH
SALT LAKE CITY
EN ROUTE TO AND FROM PACIFIC COAST.
THE TOURIST'S FAVORITE LINE
TO ALL MOUNTAIN RESORTS.
AU throughtraln equipped with Pullman Palace
and Tourist Sleeping Car.
For elegantly Illustrated descriptive books free
of cost, address
E.T.JEFFERY. A.S.HUGHES. S. K. HOOPER,
Pm'tindGenlHiT. Traffic Muap. Gaa'I P. A t. 1ft
DENVER, COLORADO.
Go to
California
in a Tourist Sleeper.
It is the RIGHT way.
Pay more ad you are ei
travagact. Pay less and
you are uncomfortable.
The newest, brightest,
cleanest and easiest rid
ing Tourist Sleepers are
used for our
Personally Conducted
Excursions to
California,
which leave Omaha every
Thursday morning reach
ing San Francisco Sunday
evening, and Los Angeles
Monday noon.
You can join them at
any intermediate point.
Ask nearest ticket agent
for full information, or
write to
J. Francis, G. P. A, Omaha, Neb.
"ScenicLine or inevorld"
Cripple Creek Advertisements
HARRIS BROS.,
224 Bennett Avenue.
WE WANT our "Friends" and the Public to know that wo
are compelled to remove from our old stand. We shall
sell our . . . . ,
Entire Stock of Clothing, Shoes and Famishing Goods
ACTUAL COST!
As we have always kept faith with the people, you can rely upon
this statemeut. We will sell the best bargains ever offered
in this city. Do not fail to give us a call.
OFFICIAL
or
Midland Terminal
EfTM-the March Int. 1M.
ARRIVE DAILY.
HEAD Ul.
U
Suburban
-a a
.2
'S3
17
P. M
10 10
io 02
I M
to
13
7
P. M
P. M
P. M
P. u
12 20
12 11
12 06
A. M
Ar.
8S
27
6 11
8 45
a m
a au
1 10
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6 62
t 46
...Or. Creek.
. .. Anaconda .
Elkton....
12 56
A. M
9 M
9 87
9 82
9 27
t 11
0 (111
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0 55
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8 10
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2 47
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12 80
11 52
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ai
e 25
8 20
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6 OV
8 00
5 50
5 25
5 00
4 45
....Victor
...Portland
. Independence.
... Hull IUI1
UrHHy
... Bylvanfte ....
Ulllett
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....Midland.. .
Murphy
II Kl
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Lv.
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. Divide.
P. M
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8 00
i'is"
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..Col. Hpu..
...Den ver...
...Pueblo...
Ar. Lv.
...Divide....
Lv. Ar.
.Leadvllle..
8 8A
8 00
P. M
A. .M
4 S2
2 10
P. M
9 56
12 20
A. H
8 20
8 02
525
P. M
7 40
6 85
8 10
....ARpeo...
Olenwood.,
.Grand
.Salt Lake..
...OKdi'n....
LEAVE DAILY.
Through Pullman Car and dy coache are run between Cripple Creek, Victor. Colo
rado Bprlnn. and Denver, on Train 7 and 8. PKSRengi-r ran occupy berth In Colorado
Spring Sleeper until 7:00 a. in. Connection 1 made at Divide with Colorado Midland Hall
land Railroad for all point In the West, and at Colorado Springs. Denver and Pueblo, with
all line for tbe East, Went, North and South.
The Midland Terminal I tbe only broad-Kane railroad Into the Cripple Creek dlntrlct,
and la (lxtv-8ve (05) uille tbe aborteHt. anj several hour the qulrkem lime to all point
Kast and West. J. 11. WATKUS, Huperlnteodent
U. COLLBRAN, President.
AMERICAN
GOLD MINING ZHsMILLING
COMPANY
1615 Howard Street, Omaha Neb.
Capital Stock $2,000,000
CLAIMS LOCATED ON NIPPLE MOUNTAIN
.... AND IN HIGH PARK
IN THE GREAT
Cripple Creek Mining DiHtrict
O' r claims are surrounded by some of the richest strikes of recent years,
and are undoubtedly as rich as any In the whole district. They were located by
a practical miner, one In whom the Denver mint people had so much confidence
that they hired him to locate several claims for them, from which rich ore has
been taken.
Surface Rock on our Nipple Mountain and High Park claims assays $2 00
per ton; down eight feet it advances in value to more than 17.00 per ton and the
Indications are that these claims will be as rich as the richest claims in the
Cripple Creek district.
Here is an opportunity seldom met with for the investment of money In
a mining enterprise near at home, where any who choose may visit the mines
and see for themselves just what is being done. The mines are located within
200 feet of a railroad.
If you want to MAKE MONEY buy stock In this cotnpanv. It is a safe
and sure investment, and WILL PAY DIVIDENDS TO EVERY STOCK
HOLDER, If the mines pan out as rich as present Indications warrant us in .
believing them to be.
We court the fullest investlg tion. Full Information will be sent by
mall upon application from those who cannot call at office. Fill out the coupon
found below, giving the number of shares you desire to purchase, and inclose it
with a P. O. money order, or an express order, or with money in registered
letter, and mail it to us, making all money orders payable to
JOHN C. THOHPSON, President.
Enclosed please
for shares of stock in the American
Gold Mining and Milling Co., at 5c per share.
t v
J I f NAME
5 . TOK-N
J ! T STATE.
Now is the Time
to Subscribe for.
u- . .-
JOHN HARRIS, Alanager.
TIME-CARD
THF
Railway Company.
DEPART DAILY.
HEAD DOWN.
4
-I
9
m
2 a
s2
Suburban
5
2
12
6
14
P. M
5 00
6 08
5 14
16
8
Lv.
A. M
AM
11 40
II 4H
11 64
P. M
12 04
12 12
12 17
12 20
P. M
P. M
P. M.
8 00
8 12
8 18
1 40
2 4.1
2 W
R 80
8 80
8 45
it ao
11 4A
li mi
A. M.
8 25
8 87
8 42
8 47
8 62
00
9 10
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9 87
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a 24
a 20
a 84
a 42
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5 82
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9 12
12 05
12 14
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12 81
12 40
12 50
1 05
1 20
1 88
Ar.
A. U
10 00
P. M
4 40
1 60
12 01
6 16
S 30
e at
9 15
8 07
4 16
7 00
1 20
1 55
8 OS
7 06
9 60
9 52
10 48
A. H
12 45
P. M
12 05
1 15
Jet..
ARRIVE DAILY.
Par Value of
Shares SI each
4
find v to pay 5
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