. 1-3 p jr"w;fc3sr ttt;
" flV-
1 t" "t i iS"
SUPPLEMENT TO THE HERALD, HEMlNGFOBD, NEB.; FRIDAY, SEPT. 13, 1895.
)
-. xHSj.Mwsw?-nfitv
7fe
IV
m
Wino Merchant "I do my mixing
in the collar. Tho silver miuo ownors
should koop moroin Ibo baokgrouud."
ATTEMFTINU THE IMPOSSIBLE.
Ix-CongrcBsman Bryan, of Ino
braska, disooses ol all tho complex
problems of thov monoy question in
twelvo paragraphs, most of, which nro
devoted to claiming that tho Unitod
States can coutrol tho valuo of tho
monoy motals of tho world. Tho gist
of nil his propositions is found in tho
following extract from tho ninth:
Tho Government, by creating n do
xnand for au article of limitod pro
duction, can Taino tho prico of that
articlo, ond by offering a demand un
limited in proportion to tho supply
can fix tho bullion price of gold anil
ilver at tho mint price." Beoiuso of
his boliof in tho ability of tho Gov
ernment to thus fix tho prico of silver
in relation to gold, ho urges this
country to at onoo try tho experiment
of opening its minis to the nnlimitod
coinage of Oliver at Hi to 1.
Mr. Bryan's childlike faith in tho
magic r"er3 oI Government ro
domblcs that of tho African savago in
his fotisb, a stone or stake, which ho
firmly believes can bring rain or ward
off ft pestilence. In both case it is
blind superstition without any basis
in reason. Thero is not tho slightest
proof in all past history or present ex
perience for tho assorlain that Govern
ment can crcalo an unlimited domtrnd
for silver merely by opening tho minta
for its frco coinage. India, with 200,
000,000 people, wUh fow banks and
little or no paper curronoy, was forced
to closo its mints two years ago, hav
ing in vain triod to fix tho bullion
xoluo of silver at its mint prico. Under
frco coinage thero would be no way in
i i. ii ..ti v. i.nmtinll(l
which tbo, pooplo could be compelled
10 KCOp Ull iUO Oliver numu ""8" "
icon
nARMA-rjnv-aialx.tif.rv
-niftUiL
the country would very soon find that,
instead of an unlimited demand, thero
would bo a glutled silver markot. Tho
total amount f silver whioh oan bo
profitably useilns monoy is really very
mall, probably not over fivo dollars
per capita. Of course notes based on
silver will circulate, but bank notes
based on other forms of wealth servo
the purpose of a circulating medium
much better, as there is not tho great
wasto of labor that thero is in pro
ducing a motal to bo hoarded in
vaults.
"With tho uufortunato oxperienco of I
tnis country witn tno siivor-maonino
law of 1800 so clearly boforo him, it
is surprising that Mr. Bryan should
havo tho hardihood to assert that tho'
Governmcnt.by creating a demund for
silver, can lauo its prico. That law
created a demand for 4,500,000 ounces
of Hlvor per month. Did tho prico go
up? For a abort time, long onougu
to allow tho silver speculators to un
load, it advanced, but soon bogan to
fall, and within two years from tho
time tho Government hlartod to
'creato a demand" tho prico of silvor
was far lower than whon tho law wont
in forco. Iu spito of tho ariiftoial do
mand for practically all tho American
silver not u-jed in tho nrte, tho prico
declined from OS cents per ounco in
1889, to 75 cents in 1893 ; n most con
vincing proof to any one but a blind
worshiper of tho silver fotisb, that our
Government cannot permanently fix
tho commercial or bullion prico of sil
ver ot its mint ratio with gold. In
viow of this disastrous failuro of tbo
Government's attempt to raiso tho
price of silver, it should bo evident
that the scheme of tho freo coinago
advocates is an absurd attempt to
accomplish tho impossible.
Not Unalloyed Pleasure.
About tho worst foaturo of tho
dnstrial revival is tho starting up
in
of
tho silver crank. Philadelphia Times,
Banco Steerer "I wont good money
bo do tho silver mine owners who
make their contracts in gold. Thoy
try to bunco tho whole people, while I
practice only on individuals. Hav'a't
tlievgotagsll?"
Grocer "I may soil dishonest goods,
but I want honest monoy."
CHALL CHANGE.
' Tho Democrats ol Ohio, following
in tho lead of thoso in Kentucky, have
prononncod by a largo majority in fa
vor of honest money. Six months
ago tho freo silver pooplo of thoso
States supposed they wero so strong
that no party would daro oppose thom ;
to-day thoy feel tho ground slipping
from under them and n growing diz
ziness in their If to 1 heads. Tho
absuidity of thoir position and tho
falsity of many of their claims is bo
coming apparent to all who think
with sound minds. The common
Bonso of tho pooplo, whon appealed
to, is tho bost safeguard against fiat
monoy legislation.
Tbo advocates of freo silver scorn to
think that tho small bulk of gold, as
compared with tho total amount of
property in tho country, is a reason
for adopting the silver standard.
Thoy might as well complain that tho
email quantity of mercury in tho
world, as comparod with all tho weath
er to bo measured, renders it unfit to
servo as a mcanB of indicating tho
tomporature. Just as a Tory littlo
mercury may bo used to measure all
tho ohanges from extromo heat to se
vere cold, so a small bnlk of valuabla
metal will servo M a measure of a
groat deal of property. It is quality,
not quantity, which is most dosirablo
in tho standard of values.
Silveritcs cannot understand how
the increasing production of gold
should causo a deolino iu tho value of
silvor. Full of thoir idea that it is
tho rolativo quantity of tho motals
minea wmen nxes mo rauo uuiween
th . ag thQ annual
mined which fixes tho ratio between
11 -,1,,f ia n.nUMnr. l.rrror ihn
..mv-.""---- UM"--ft'-"
vmuu U 1IU1U (M uuuilhdu vribu on rot
compared
should fall. Ono reason why
in-
creased production of gold means
cheaper silver is that as gold is the
mora Buitablo money metal, larger
uupplies of it enable countries for'
merly UBing silver money to replaoo it
with gold. Tho extonsivo production
of petroleum, as compared with whalo
oil, did not havo tho effect of making
whalo oil dearer. So tho gonoral
adoption of gold as monoy will not in
crease tho value of silvor.
Inequalities in the distribntion of
wealth may exist in our present sooial
system, but it is certain that no ohango
in tho material nsod to measure wealth
will do anything to help thoso who
now uro poor. The silverites indulgo
in glowing generalities about the won
derful prosperity whioh will follow tbo
adoption of tho 16 to 1 panacea,
but aro always careful to avoid giving
particulars as to how tho predicted
change will oome abont. No advocate
of freo coinage has yet attompted to
explain how tbo men who have no
property would havo a ohanoe to get
some under the silver standard, if, as
its friends claim, the price of all kinds
of property would bo doubled. A
echemo for tho relief of tho poor
which proposes to put property further
out or their reach, should bo oasily
seen through by thoso whom the sil
ver mine owners' agents pretond to be
desirous of helping.
Not From Ills Standpoint.
Populist "How muoh did yon say
you owed, $1000? Now, my friend
with free silver, it will cost you only
8500 to pay that off." Farmer
"Umphl I'm afraid that wouldn't do
ma any good." Populist "But why
not?" Farmer "I want to borrow
$1000 more." Lifo.
Every day of bright sunshine
jures the freo silver crop.
in-
Painter "My customers would kick
if they knew I was substituting aheap
for dear material, I don't need to be
told who are back of tho American Bi
metallic Eeaguo."
THE GUESllAU LAW.
It Explains "Why Silver Standard Na
tions Coin No a old.
When I closed ye&torday I wa3
speaking of tho offoct of tho freo ooiu
ngo of silver to bring us to tho ainglo
silvor standard. I quoted tho opin
ions of quite a numbor of porsons who
wcro of that view, who bolioved that
tho freo colnugo of silvor would noo
cssarily bring us to tho tingle silver
standard based upon tho markot valuo
of 371$ grains of silvor. I wish now,
in addition to tho testimony of indi
viduals as to thoir opinion of what tho
offoct would bo, to call attontion to
tho aotual condition of things in overy
country in tho world whoro tho fioo
coinago nf silvor now exists. Iu evory
ono of thom, bo far as I know without
exooption, tho freo ooinago of silvor
oxoludbs tho monotization of gold on
tho ground that n niarkod differenoo
between tho valuo of silver and gold
according to its coinago standard and
its market valuo will prevent any per
son from bringing tho hotter metal to
tho mint to havo it coined; it will
necessarily oxcludo tho coining of tho
bettor metal and necessarily prevont
the payment of tho hotter metal.
No man governed by tho ordinary
selfish notions of individuals will ever
day in gold when it is worth more
than silver. They did not pay in sil
vor whon silvor was worth moro than
gold according to tho legal ratio, and
tho converso of that proposition is
equally true. Thero is a law of finanoe
as universal as tho laws of tho Ten
Commandments, and that is that whon
thero are two standards of value, or
two moans of payment, tho cheaper
one will bo usod and tho doaror motal
will bo oithcr exported to whero it is
moro valuablo or it will be hoarded or
kopt in tho control of tho owner. Wo
plain pooplo distinguish between a
raggod bill and a good, fresh, crisp
bifi, becauso wo would ralhor carry
tho crisp bill than tho raggod bill. It
is tho natural instinct ot human naturo
among all peoplo to select the poorer
motal for payment to others and koep
tho bost himself.
I believe that is the law of selfish
noBS, whioh is n universal law. It is
sometimes called tho Grosham law,
becauso a famous man in England, in
tho timo of Quoon Elizabeth, who was
not only a high financial authority,
but held high offices in Great Britain,
proclaimed tho simple principle that
tho cheaper monoy will always dis
plaoo in oirculation tho better money.
Subsequently, whon a contest grew up
as to tho reooinago of tho gold and
silvor coins of England, in tho early
part of tho eighteenth century, nearly
two hundred years ago, tho question
of roooinage entered into polities of
.CtrURifcin.t.ML. xa ttually. carried
by tho great woight and power or Sir
Isaao Newton, who decided iu favor of
the reooinago of tho ooins of tho realm.
Mr. President, that is tho uriverBal
law, and thereforo whon I qi,bto the
aotual results umong Nations ty is only
to show that among Nations tfi well as
among individuals tho samo rule pro
vails. In Mexico thoy have tho froo
coinago of silver. They have no coin
ago of gold, not becauso they cannot
coin it, but Bimply becauso nobody
would carry tho gold to tho mints to
bo coined whon it is moro valuable
than tho silver.
In all tho South Amorioan Nations
I beliave thero is freo coinago of
silver. If I am in error about this I
shall bo glad to bo correotol some
other time, but I think I am not.
Now what is the condition of affairs
in those South American countries?
In the first placo, having tho free
coinage of silver, thoy hart moro or
leu of silver in Brazil and tho Argen
tine Confederation, but they soon
drifted into practically an irredeema
ble papor monoy.
But wo sometimes hear, and my
friend from Nevada (Mr. Stewart)
has often quoted India, as if India
now had all the blessings of tho sys
tem of free ooinago praotioally. It is
said that India absorbs all the Bilver
that is afloat a Nation of two or
three hundrod millions of people, who
are about a thousand years behind
the timo and they have mado money
by it. I havo taken groat pains
to study the Indian quontion, and I
am prepared to show that tho resnlts
of practically tho freo coinago of sil
ver in India are prooisely the same
that havo occurred in every other
country. Hon. John Sherman, June
1, 1892.
Tho Anti-Chenp Han.
"Tho faot is, wo want nothing cheap
but money," is the frank declaration
of the National Watchman, a leading
cheap monoy organ. Of ooursa not.
Tho editor of that paper wants things
scarco and dear. Cheapness moans
ooiy production, so he wants things to
be hard to got. His wife may buy
goods when thoy are marked down,
but ho waits to buy when prices are
way up. no always hires tho printers
who do tho least work for the most
wages, pays tho highest prices for tho
poorest paper, and novor thinks of
suoh wicked inventions as labor sav
ing presses. Ho travels by stage coach
instead ot railroad, aud ho uses candles
bocause their light costs moro than
that from oil. He always buys in tho
dearest market, and would shudder at
tho idea of getting anything at a bar
gain. Like a true American, he never
tries to think of some way of doing
work easier, for that would mean that
things would become cheaper. He fa
a oonsittent, straight-out advocate of
everything dear but money, and that
he wants as cheap '(and as poor) as it
can bo mado.
Free Silver In Kentucky.
No amount of windy oratory will
inflate the free silver tiro in Kentucky.
It is punctured beyond repair.
The silver question t
bo o dolkr?
Will you lend
IVJty Silver Has fallen.
Tho silver mon say it is booauso tho
Unitod Statoa domonotizod silvor in
1878, that it has gono down iu value
until tho silver in our silvor dollar is
only worth fiO cent.
Thoy oouvon'ontly forgot that tho
Unitod Statos was not tho only Nation
to demonetize silver in '1873. Ger
many also domonotizod silvor in 1873.
Franoo'did tho Hamo In 1870, and In
dia tho same in 18911 and slnoo 1871,
Norway, Swodon, Denmark, Holland,
Russia, Austria, Switzerland an I Bel
gium havo coasod tho froo coinigo of
silver.
Tho action of thoso prinoipol Na
tions of tho oarth has had at least as
much effoot on the fall in tho prioe of
Bilver as tho aotion of tho Unitod
States. But tho groat iucroaso iu tho
annual production of silver hat had
moro cOeot on tho decline iu prioe
than any demonetization by uuy
country. Tho fall in the price of sil
ver has simply kopt paoo with tho in
crease of production, tho samo ns any
thing else.
Tho averago produotlon of silver in
tho ton years prior to 1872 was, in
round figures, 850,000,000 oach year,
and tho averago prico was 1.32 an
ounce. In 1880, tho produotiou had
inoreasod to 3120,000,000, and natur
ally tho price had gono down to 99
oents an ounoo. In 1892 aud '93, tho
annual production had roaohed the
enormous sum of $190,000,000, and
tho prico most naturally wont down to
68 cents; and the most romarkablo
faot is that tho fall in prioo has boon
in nearly exact proportion right
straight through to tho inoreaso of an
nual production.
Will any fair-mindod man assort in
tho faoo of thoso faots that inoroasod
production has no offoct on tho fall in
price, but that demonetization of sil
ver by tho United Statos has alono
producod this result? From Dr. W.
P. Hill's "Argumont Against Froo Sil
ver Coinago at 16 to 1."
SAME
(Ratio Depends on
Dairyman "I practice what them free silver people preaoh; bnt I'd bo
etand 16 to 1, but tho next thing would bo 100 to 1, and that would run
might
A Serious Experiment.
Tho freo ooinago of silver an 1 tho
substitution of a new unit and ineas'
uro of valuo for tho existing ono in
tho business transactions of tho ooun
try is not an ordinary experiment
whioh oan bo safely tried to-day and
abandonod to-morrow if found injuri
ous, because tho immediato conse
quences ot such a step would bo so
far-reaohing and bo enduring that
thoy would continue to be folt ,for
years aftor tho policy had beon re
versed. It is incumbent, thoreforo,
upon those who insist upon tho adop
tion of this revolutionary polioy to
show plainly and conclusively in ad
vance not only that it would result in
no injury, but that it would ba posi
tively bonofioial, for if not positively
beneficial the change would at least be
wholly useless. This cannot be done
by appeals to the exoited passions and
prejudices of the people, by attempts
to array ono class of our oitizena or
one section of our country against an
other, or by loose and extravagant
statements unsupported by facts and
reasons. The questions involved aro
too serious, the interests to be affeotod
aro too large and tho common sonse
of the peoplo is too strong to justify
or oven excuse this course ot treat
ment. Hon. John G. Carlisle
Insinuating Erlls ot Uad Money.
Thero aro somo political evils which
aro seen as soon as they aro danger
ous, and which alarm at once aj woll
the peoplo as tho Government. Wars
and invasions, therefore, aro not al
ways the most certain dostroyeis ot
National prosperity. They como in no
questionable ahapo. Tiiey uuuounoo
their own approach, an 1 the general
soenrity is preserved by the general
alarm. Not so with the evils of a de
based coin, a dopreoifttod paper cur
rency, or a depressod and falling pub
lio credit. These insinuate themselves
in tho shape of faoilitios, accommoda
tion and relief. They hold out the
most fallacious hope of an easy pay
ment ot debts and a lightor burden of
taxation. Daniel Webster.
Cotton is advancing and the free
tHjtx. erase it declining',
PUPIL OF
"I beon wantiu' to ax you, Brnddor
Johnsing, whodder you's road do now
work ontltlod 'Coin's Finauoial
Sohool, ' and what yo' douo think
about it."
"Has T road ;t, Brn Ider Simpslng?
Doan' yo' reaolloot dat I Mondod do
sohool myself 'long wid Jnv Golo, olo
man Vaudorbilt, and tho wholo pansol
of dom big bug uat has somo ftnanoos
obdor own to llnunaior wid?"
"Say, yo' doan' mean to say dat
Golo and Vandcrbilt war dar, wlinn
doy boon dead yoars bofo'? 'Sides I
hain't novah mist yo' out ob do town
long ouough fob yo' to got up dar on'
book."
"Dat meok no difference, Brnddcr
Simpsing. I war joa' ai muoh dar as
any ob do fellahs do book say war dar,
and so war Golo an' Yandorbilt,anddo
next timo yo' runs aoross LImo Gage,
tho big goldbug banker, or Walsh.an
noddcr Chicago banker, or Coal
Souttlo, yo' ax 'om of I wasn't dar just
do samo timo doy war."
"Well, I guess dat nottlo it dat yo'
war dar, Brudder Johnsing. But I
want to ax yo' of dat littlo kid did got
awuy wid all dom big bankahs and
pollytiahancrs in tho argymont liko do
book say?"
"Indeod ho did, sab, jos' as euah ns
doy war dar, and his ansahs ploaso do
augenoo moutloy. Say, yo rocolloo'
dat Walsh, I boliovo it war, axt him
dis hoah qnostion: 'How kin do
Govahmont by a simple ao ob Con
gross raiso do prioo ob auy articlo?
Den yo' rooolleo' dat Coin say, 'yu.
wasn't hoah yoslody?' and whon
Walsh says ho wasnlt, Coin say,
'sposo dia Govahmont 'nounco dit am
guino to purchase a hundred thousan'
mulos for tho boss marines, kalut
overybody boo dat do prioo ot males is
gulno to bound up, and not only do
mulos do Government buy, but do
hossos and mulos to took dar plaaos,
HRUDDEtt JOHftUVO
COIN.
KIND DIFFER OXJ,Y IN DEUUEE.
Supply of Gray Matter und Elasticity
and dat am jos' do way do aok ob
Congress am guino to ris up do prico
of ailvah.' Well, jis' as all do sobolahs
who had dar parts larnt war a swal
lowin' down, 'cordin' to do rule ob do
school, tho good-for-nuffin niggah
what kep' do doah bus' out laffin' his
bes'. 'What yo laffin' at, yo braok
rascal? says Coin. Den do niggah ho
say? 'Didn't you say todder day dis
Govahmont mus'n't buy ailvah, 'kaso
bnyin' mado it a commodity, and ail
vah didn't want to bo dat?' 'In cose I
said so,' flays Coin. 'An' didn't yon
say that all do Govahment got to do
to fotch up silvah war to weigh it and
put on do Govahment stamp?' 'In
ooso I did,' says Coin. 'Well, don,
says de niggah, 'how muoh you 'sposo
do prioe ob mules would bo riz of, in
stood of buy in' and payin' down de
spot cash for 'om, do Govahmont only
sent
roun
u man win a uranain ir a
., , ,,. ,.
to bran 'em 'U. S.' on de flank?' Dan
olo Hutob, who had been takin' a lit
tlo nap on ono ot do baok scats, got to
lafhV aud fell off, and dey got do news
down to do Bode of Trade dat dar was
a big tumble in wheat. So do next
day Coin he 'pollygize to do sohool
fob de niggah not bavin' his paht com
mitted and comin' in wrong and spilin'
de show, an he say he gwine to hiah a
new do' keopah of ho hive to pay fo
bits mo' a week." Sigournoy (la.)
Review.
Free Silvor Iu Mexico.
"Moxico has free coinago of silver.
"Mexico is on a silver basis.
'The wages in Mexico in mining
and agriculture vary from 10 to 30
oents a day in Mexican money, which
ia from 5 to 15 oents in United States
money.
"Tho average for farm labor a day
in Mexioo is 20 oonts in Mexican
money or 10 oentj in United States
money.
"If free silver can raiso prloes, why
does it not raise the prices ot wages in
Mexioo?" Commercial Review, Green
Bay, Wis.
The silver craze has been killed by
that terrible enemy of the calamity
howler, "General Prosperity," and
will, bo buried by tho ride of its twin
brother, the MoKinloy bill.
$i ii1 hi. in
(Sfijr
A IVitONH DIAGNOSIS.
A doctor writing in tho CaUfornfa
Medical Journal asks : "What is the
aotual valuo ot gold?" and answors his
question by saying : "Simply a fictit
ious or fiat valuo, placod upon it by
legislation." If this dootor knows nq
more about tho soionoo ot modicino
than ho doos of financo, his patients
will havo on oxcollout ahanoo of test
ing tho valuo of fiat drags and pills,
with possibly tho rosult that thoy will
rocovor quicker than if thoy swnllowod
roal mixtures oomponndod according
lo his direction?. And if ho should
havo occasion to bring unit for pro
foxsional Borvioos rondored, tho pationt
could plead as a defence that theviluft
of such Borvioos was moroly a fictitious
or fiat value, fixed by legislation.
Tho error into whioh this California
doctor has fallon is ono whioh is com
mon to all cheap monoy ndvooatos, and
espeoially to silverites. Thoy beliove,
or preteud u boliovn, that valuo id
something oroatod by law, and placod
by Governments on gold, Bilver or
papor. That it is puroly a dolusion
oan bo scon by supposing tbo
laws making gold tho stand
ard ot valuo to bo repealed. At'
onco tho natural laws off
trailo would forco tho Boleotion by
business mon of somo common moasuro!
of values. What would bo tho matorlal
ncod for suoh moasuro? Is it not cer
tain that becauso of tho very qualities!
which make gold tho suporior monoy,'
tint motal would bo usod by iartho
largost number ot persons? A loir
miizht uso silvor, but whon thoy found(
that tho rest wero lining gold, thoy.
wonld seo tho advantago of having the'
samo standard as thoso with whom"
thoy tradod. So that without any'
logistation gold wonld continue to ba
tho standard monoy of tho oountry,
Tho valuo ot gold doponds on tho
oost ot produotlon, and tho domand for
it both in tho arts and for monoy, and,
if tho supply oontinnod as at proaont,
of Conscience),
ashamed to proaoh it like they do.
tho wholo businoss in tha ground."
its value would bo tho samo. Tht
Government's stamp puts no value into
tho gold coin, for tho gold ia worth as
muoh as bullion as when coined. There
is no possible way by whioh Govern
ment fiat can add a natitioKS valuo to
any substanoe. No silvorito will pre
tend that legislation oould make six
teen ounces of iron worth ono ounce
of ooppor, or that the value ot either
iron or copper is fictitious. And it i
just aa impossiblo for Govornmont to
give value to tha two rarer motals,
gold and silver. The Oakland dootor
will havo to make a new diagnosis of
silver's weakness and the strength of
gold.
A Juory.
If tho Government should coije
$50,000,000 a month in legal tender
silver dollars how would the farmers
of this section get any ot it? Will
some freo silver advocate please
answer?
Just principles will load us to disre
gard the legal proportions altogether ;
to inquire into tho market prioo of
gold in tho several countries with
whioh io shall bo principally connect
ed in commerce, and to take an aver
ago from thom. Thomas Jefferson, on
fixing a ratio.
"Yes, brethren and sisters," said
tho Western minister, in the course of
tho funeral sermon, "our dear broth
er has gono to tho land whero all
things are known oven the trn5
about tho coinage question, per
haps." Indianapolis Tribune.
Wo havo been needing rain badly,
Aocording to tho Populist, free sUvei
theory, Grover Cleveland and tni
Democrats ought to be ashamed of
themselves for not giving ns rain when
we wanted it.
It living in mud huts, going liaLft
clad, with children stark naked, ana!
living 0& metquite beans as they do
in free silver Mexico, ia Tvhat th If
to 1 mon call prosperity, we'lleonfeas
we axe not yesifllng for it to any
trerlst
I
