Hemingford herald. (Hemingford, Box Butte County, Neb.) 1895-190?, November 22, 1895, SUPPLEMENT, Image 5

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It is a significant fact tlia In tho
States where tho largest number of
skilled workingnicn are employed at
the highest wages, tho ngitatioa for
freo silver mot with no response. At
tempts wero mado by n fow so-called
'labor leaders" to create n sontiment
in favor of freo coinage, but in ovory
case their efforts wero fruitless.
That many of tho fasmors of tho
United States arc comparatively poor
is beyond question. Hundreds of
thousands of men aro trying to get a
living out of inferior soil and aro suf
fering from tho competition of others
who nre cultivating more fertile lands.
Tender these oireumstanccs tho returns
for tho labor of tho former class aro
very small, and there is naturally a dis
positon to welcomo any now promiso
of relief from a condition whiah is bo
lieved to bo in soma way or other duo
to tho action or ncglcot of tho Govern
ment. To theso mon, ignorant of tho real
coubos of thoir poverty, but dimly
fooling that tho ovils of whioh. thoy
complained might bo ourod by laws of
eomo kind, camo tho domngogic ngonts
of tho silver mino owners ; tho cheap
politicians seeking tho spoils of oQloo;
and tho one-idea enthusiast who was
euro that the ills of poverty would
qniokly disappoar if only tho country
was supplied with mora and oheapor
money. Glowing word pictures wore
painted of wealth in abundance for
all, as soon us a freo aoinago law
would bo adopted and tho mints sot to
work grinding out n grist of silver
dollars. No promiso was too extrava
gant for tho man who talkod of riches
without working for them, and in lit
oraturo and speeches cunningly com
posed of half-truths and wholo false
hoods, a vision of unbounded prosper
ity was conjured up boforo caoh
farmer's oyes.
But soon thoro came serious doubts
nnd questionings. Tho advocates of
eound money spread abroad literaturo
in which tho freo silver doctrino was
ridiouled as absurd, or donouncod as
dangerous. It was pointed out that
moroly cheapening the currency could
not incrcaso tho wealth of tho coun
try, and that changing silver bullion
into ooins would not mako it easier
for farmers to got mora of it. Tho
evil offoots of tampering with the
measure of values on whioh tho wholo
business intorests of tho country rest
ed were clearly shown, and the results
of a polioy whioh would causa another
finauoial panio given in plain language.
The men who had blindly swallowed
tho freo coinago mizturo bocamo
alarmed. Thoy began to ask: "Is
it not possible that wo aro mistaken?
Will freo silver really do what wo havo
been told about it? Havo wo been
deluded by tho cheap money advo
cates?" Tiio answers to theso ques
tions settled tho freo coinago agitation
in so far as it seriously threatened to
bo tho controlling political issue.
Onco the farmers rofusod to aooopt
tho silver gospel on faith, the cause of
tho silveritcs was lost
little Tco Wee.
Little Teo Wee,
He went to sea
In an opea boat;
And while afloat
The boat bended.
My story's ended.
Fanners' Significant Yets.
Tho annual convention of the Amer
ican Bankers' Association, which be
gan in Atlanta yesterday, will, of
course, havo National interest, and
possibly importance. But so far as the
'Over question is concerned the bank
era can hope to say nothing more
'forciblo than was Baid by the farmers
assembled in National congress in the
same city on Monday last, when they
votod down a 10 to 1 free coinage res
olution by a majority of 147, nnd
clinched their notion later in tho day
by rejecting u resolution in opposition
tothe'furthor issue of bonds, Phila
delphia B-idord.
Uncle Sam'd White Elephant.
Mr. Carlisle in his Boston speech
showed that since resumption we have
paid 8331,000,000 in order to keep
oar $316,000,000 of greenbacks in
circulation. When they shall bo re
deemed they will bava cost S-177,000,-000.
Are we not puyiug dearly for
the legal tender experiment? It
added vastly to the expense ot putting
down the rebellion, aud is Jkoly U
prove as burdensome during peace at
during war.
(Jnlr a Free Silver Mollluqar.
An exchange publiidies a long arti
cle entitled 'Mow It Feels to Die."
We have not read it, but pro-uino it
is,aafioliloquy of tho Ireu silver uiuyu
inent. Atlanta Journal.
Senator Mills is the last prominent
bud to leave tho sinking silver ship.
.. Bat Petfer and Blackburn are still left,
" aad menu to stay on the burning deok,
after all but them have fled. -
Ridiculous Attempts or New Nether
Innds Law Makers to Prevent
Depreciation Lessons for Popu
lists Who Hnvo Hrought tho "Bo
It Enacted" Farce Up to Date.
Tho lesson to bo learned from
tho uso of wampum (also called
wnmpumpoag or pcag), tho earli
est money used in this country,
covor practically ovory phaso of tho,
1G to 1 silver quostiou now disturbing
millions ot minds of honest voters.
Wampum was tho ourronoy in uso
among tho moro oivilizod Indiana
found on tho ooasts of Long Island
Bound by our iirst sottlors. It con
sisted of either whito beads, mado
from tho ends of a poriwinklo shell, or
blaak beads, mado from elam shells,
and aftor being polished artistically,
arranged in strings or bolts. Ono
blaok was worth two whito beads.
Theso beads not only had real valuo
among tho Indians, but in thoir sun-
plo lifo mado a perfect currency and
gavo ovidenoo of tho superiority
of theso particular Indians. Wam
pum was early adopted by
tho colonists nnd soon bo
camo tho prevailing ourronoy. In a
fow years "3mart Alecks" among tho
whites began to counterfeit wampum
by leaving tho beads unpolished or
unpiorood or by making them ot bono,
horn, glass and oven of wood. Both be
cause of this depreciation nnd thoncod
of tho colonists for hotter monoy, wam
pum lost its placo as mouoy in tho dif
ferent colonics between tho years '050
and 1700. It continuod longor in uso
in New Amsterdam (Hudson Bivcr
Valley, including Now Jorsoy and Long
Island) than in other colonics, and it
is to the stronuons but humorous of
forts of tho lawmakers of this colony
to provont tho inevitable that wo now
wish to call espocial attention.
Mr. Simon W. Bosendnle, of Al
bany, Now York, has rocontly pub
lished "Tho Involution of wampum ns
Ourronoy." It consists almost onliro-
ly of "Ordinances of tho Dirootor and
ConnoilofNow Netherlands rogulat
ing tho Ourronoy of Wampum." Tho
first (in 1011) bogint :
"Whoreas, Very bad wampum is-at
presout circulated horo, aud puymont
is mado in nothing but rough, un
polished stuff, which is brought hith
er from places whoro it is GO per cont.
oheaper wo do therofore,
for tho publio good, interdict and for
bid all porsons to rocoivo
in payment or to pay out, any unpol
isbed wampum during tho noxt month
ofMny,cxooptntfivoforono stiver (ono
English penny), andjthat strung, and
then, attor that, six beads for ono
stiver. Tho woll polishod warn
nam snail remain at Us prlco as
before, to wit : Four for ono stiver,
provided it bo strung."
In 1617 n resolution permitting
looso wampum to circulate, "but de
claring that nil imperfcot beads
should bo aosoptod only as bullion,
was passed.
On May 30, 1650, owing to de
preciation, it was solemnly doolared
that "honcoforward no moro looso
wampum shall bo current or good pay
unless it bo strung on a cord." Never
theless "to establish some difference
betweon tho commercial wampum
and strung wampum, so as in future
to avoid all misunderstanding," ovory
ono, under penalty of confiscation of
his trado or business, was commanded
to accept six white or throo blaok
commercial or eight whito and four
blaok of "poor strung wampum" for
ono stiver.
On September 14, 1850, it was de
clared that thoir previous ordinanoo
was not being obsorved or oboyed.
On January 3, 1657, tho good Coun
cil again regretted tho "intolerable
dearness of all sorts of commodities
and household supplies, the prioes of
which aro onbanoed from time to time,
principally, among other causes, in
consequenco of tho high prioe of
beaver and other peltries in this coun
try beyond tho value, whioh, by rea
Bon of tho great abundance of wam
pum, is advanced to ten, eleven and
twelvo guilders for one beaver ; and
wampum being for want of silver and
gold coin as yet tho most general and
common ourronoy between man and
man." Prices were again fixed firmly
under heavy penalties and the ordi
nunco was published publicly.
In November, 1658, wo find the
Council again "kicking itself" be
cause.in defiance of all its former ordi
nances, wampum had further doolined.
Prices of "the most necessary articles,
such as bread, beer and wine." were
once moro solemnly and unalterably
fixed in silver, beaver and wampum.
Three guilders in silver.
Four and one-half guilders iu
Six guilders in wampum.
In spito of the good intentions of
the Director and Oonncil and of their
severe laws, they declared, on Decem
ber 28, 1632, that wampum had depre
ciated "to the degree that 20, yea,
even by some 21, guilders, are now or
dinarily paid for one beaver." Never
theless they proceeded to fix ratiosand
prices in a way that would do credit
to a modern "pop" convention.
It did not duwu upon tho minds of
our forefathers, who where then pass
ing through the economic stage of
civilization still on in Arkausaw and
Miasithippi, that wampum was de
preciating iu valuo because it was be
ing ptoduced more and more cheaply
and because it was becoming, us com
pared with beaver and silver, a poor
standard of value, unfitted fcr cur
rency in the growing and trading
colonic. 1'aey thought to ttay
natural with artificial laws.
We have but to substitute silver for
wampum uud gold for beaver nnd wo
bring tho "be-it-enasted" farcj up
to date.
All of the long-haired and short
witted, statesmen that ever assembled
cannot, for any great length of time,
force a depreciated and unpopular
currency upon a oivilired country.
' jq3 n jEiag p '
Falls on Wngo Earners Hconuse
Prices Rise Faster Than Wages.
Mr. Edward Atkinson has contribu
ted to Harper's Weekly an artiolo ex
hibiting tho ofleot of a doprcoiatod
currcnoy upon tho working classes and
pooplo of small means. It consists of
deductions from tho experionoo of tho
country during tho paper monoy
regime. Tho first thing shown is tho
fact woll known to nil who romombor
that period, or havo familiarized thorn
solves with it, that wages did not riso
so promptly as tho prices of commodi
ties. Tho averago for soven years
aftor tho introduction of tho legal
tondcr notc3 shows nn incroase of
wages of 35.9 per cont. and an incrcaso
in goueral prices of 71 por cont. This
amounts to much tho samo thing as a
reduotion of nearly one-third in wages.
No fact is better understood by all
who havo oven n slight acquaintance
with financial history than that wages
advanco loss rapidly than prices, and
legislation whioh reduces the purchas
ing power of monoy thorcforo falls
heavily upon nine-tonths of tho popu
lation. At a later period wages rose,
but that was whou tho paper dollar
was "appreciating" in valuo aooording
to the common phrase. Tho Bilver
and other cheap monoy men cannot bo
oxpected to understand this, but it is
the foot.
Aftor allowing for tho inoreasod
taxation to whioh tho Government was
obligod to resort, Mr. Atkinson con
cludes that about a billion dollars a
yoar for seven years, 1862 to 1800, was
transferred from tho many who livo on
wages to tho fow who livo on profits by
this reduotion in tho purchasing power
of tho dollar. It is this perfectly woll
established cfloct of a reduotion in tho
monoy unit upon wage roooivera that
makes tho clamor of portions of tho
working alassos in this country for tho
silver instead of tho gold dollar in
comprehensible. The working classes
of Europe know hotter than this; in
Germany thoy havo oponly opposed
any attack npon tho gold standard ;
in both England nnd Germany tho sil
ver men, who aro tho only international
bimetalists, aro nobles and great land
owners. Mr. Atkinson also figures reasona
bly enough that tho cost of tho war
was increased a billion dollars by tho
depreciation of the dollar, and tho in
terest upon that inoreasod cost has
amounted to a billion dollars. Proba
bly both of those estimates are too
lew. Tho purchases of tho Govern
ment wero especially large at the timo
when tho dollar was most depreciated.
Mr. Atkinson gives his reasons for
bolieving that for a term of years tho
depreciation of the groenbaokamount
ed to a tax of forty dollars upon every
man, woman and child, or $120 annu
ally upon every bread winner.
Ho is quito justified in suggesting
that tho foundations or many of tho
great fortunes that now worry tho
Populists and tho Socialists wero laid
by tho depreciation of tho currency
in tho war period and tho transfer to
profits of an immense amount of tho
National production whioh would
otherwise havo gone to wages. Yet
theso Populiata and Sooiahsts aro de
termined to bring about another and
a much moro sudden depreciation of
the money unit New York Journal
of Commerce.
Pestiferous IutermedtlllHjr.
Tho advocates of free silver are
pretsing for legislation to compel the
acceptance of silver, not by those who
do want it no law is necessary fur
that but by those who do not waut
it ; and, this at the importunity, not of
thoso who prefer silver, but of those
who, having it, or thinking they can
procure it cheaply, wish to be enabled
by law to force it upon others who
neither have it nor want it. This
seems to me the most pestiferous in
termeddling possible. Hon. John
Do Witt Warnor.
Opinion ol a Pklluioptier.
Undo Ned "I don't adzactly know
all do vantages of free silver, but if
it's free, whnt moro does I wantor
know? An' dat word 'onlimited' hit
mean plenty for ever'body, an' plenty
to sparol" Tho Odd Bag.
Tho Mouth's Worst Enemy.
"I know of no moro offcotivo way of
crippling tho South and its industries
than for our pooplo to clamor for tho
paymont of debts already contraotod
and hereafter to bo contraotod in do
prcciatod flilvor dollars." Hon. Hil
ary A. Herbert.
Ono Thomnnil Dollars Howard.
If tho National Doraooratio party
wero to offer a rownrd of $1000 for a
freo silver Democrat who ovor got up
boforo an nudienco and nssortod that
prioes would novor bo higher until
tho freo coin ago of silver was ro-on-aotod
ho could hardly bo found. Now
thoy all deny it, from tho least of thorn
to tho greatest. Rockdale Banner.
A Spent Unle.
Tho froo silver agitation seems to bo
dwindling to n spont foroo. On nil
sides can now bo seon ovidenco of
popular sontiment basod ou sound
sonso and pledged to sound monoy.
Tho cry for "moro monoy" that re
sounded throughout tho early spring
and summer is now a moro whisper,
and well-founded reasoning is on ex
hibition where but a littlo whilo ago
stood tho spectra of financial folly.
Washington Star.
l'o:r Man Always Gets Leit.
Q. Tho freo coinage mon say freo
silvor would bouotlt tho poor man
moro than it would tho capitalist?
A. That isn't so. If property goos
up in prico tho. man haviug most of it
will bonoflt most, tho man having lit
tlo will benefit littlo, and tho man
having nothing will not bonoflt at all.
Tho samo is true of silver ns of any
othor property. But it might not
hurt them as bad as it would somo
capitalists. Merohant.
Tho Ulnnt Mnsouliso Intellect.
Mr. Wiokwiro- "Explain tho silvor
question? Gortainly, my dear. It
roally resolves itself into two proposi
tions. One crowd wants tho man who
owos a dollar to pay two dollars, and
tho othor thinks ho ought to only pay
fifty contB."
Mrs. Wiokwiro "But why shouldn't
thoy mako it so that ho who owes a
dollar pays a dollar?"
Mr. Wiokwiro "Booanso in that
oase no ono would mako any extra
monoy. And still tho womon think
thoy know somotbing of tho soienoo
of Government. You mako mo tired."
Indianapolis Journal.
Touching Silveritcs oh the Ban. '
Tho Baltimore News tonohes tho
freo silveritos on tho raw when it says:
"Tho riso in tho prioo ot cotton is
a somowhat dishcartoning faot for the
silver prophets who wero saying eomo
timo ago that cotton was low booauso
silver was low ; that thoro could bo no
rise of cotton until silver rose, and
that silvor could not riso until wo had
free and unlimited coinage. These
wise men now stand nonplussed, for
cotton has gono up and is steadily ad
vancing and bar Bilver is quoted lowdr
than it was when cotton was five cents.
Tho least logical mind must recognize
from theso facts that silver does not
regulate tho price of cotton ; yot it
may ba that there will still bo silver
men who will find a way to mako their
theory fit."
Net on This Planet.
A champion of tho fifty-cent silver
dollar in thi olty (Tho American)
says : "In the silver-using countries,
where a bushel of wheat sella tor a dol
lar, tho wheat grower can afford to pay
moro dollars to the farm hnud than iu
a country where hd gets fifty cents or
less." It would be interesting to learn
whero is to be found that happy land
of silver where a bushel of wheat sells
for a dollar, and whero tho wheat
grower can atford to pay so muoh more
to a farm hand than in tho guld coun
tries. Is it Mexico, or China, or In
dia, or Japan? If not ono of theso
countries, possibly it i tho Wonder
land which littlo AJioe found in her
travels; or it may be iu tho moon.
Certainly it is not to be found any
where on this planet. Philadelphia
Chinch Hugs nnd II oil Worms Aftoet
Prices of Wheat nnd Cotton Moro
Than Does Gold nnd Silver.
Ono of the wlttiost ns woll as most
Bonsiblo spoeohos dolivorod at tho ro
cent Amorioan Bankors' Association at
Atlanta was that of Hon. Georgo N.
Aldridgo, of Texas, on Ootobor 16.
Horo is a part ot his spoooh :
"Tho stock argumout of tho 16 to 1
pooplo is that wheat and cotton
havo declined, and thoy soom to gloat
ovor tho faot. I know an old negro
who, when asked how ho was gotting
nlong, olways replied: 'Poorly, thank
God,' and thoy nro thankful whou tho
country is poorly ou whoat npd cot
ton. Sinoo 1873 tho vast fortilo
prairies of tho Northwest havo been
turned into wheat Holds, ho that tho
production of wheat in tho Unitod
States has bcon doubled eineo thou.
"Tho samo thing hat boon goiug on
in Russia and South Amorioa. Tho
"wonderful improvements in maohinory
for harvesting whoat and tho oxtonsion
of railroads for transporting it to mar
ket gave an immonso impotus to tho
production of it. A farnior can mako
moro monoy raising it at fifty conts
per bushol to-day than ho could at 81
por bushel twenty yearB ago. Tho ro
buU has boon tint tho overproduction
of whoat has roduoed its prioo, aud tho
gold standard has nothing to do with
tho roduction. Its prico is rcgulatod
by supply and demand.
"Last May n littlo bug sottlod down
on tho whoat fields of tho Northwest,
nnd in ono or two wooka eat up ono
half of tho 16 to 1 nrgumont on prices
and sont Iho prices back into tho
neighborhood of thoso of 1873. Tho
old haysoods, who know tho habits of
tho chinch bug and tho kind of a mul
tiplication tablo he usod iurogulatiug
tho inorcaRO in his family, took tho
trainB for Chicago, oommcuuod buying
wheat nnd broko nil tho smart Alcoks
in tho oity. Thoy may havo talkod
gold stnndard depression at homo, but
thoy put their monoy on tho chinch
bug in tho oity nnd won.
"Tho catorpillnr nnd boll worm can
do tho samo thing for cotton. 1 ouly
know tho chinch hug by roputatiou,
but I am personally aoquaiutod with
thoso worms. Thoy nro composed of
appetito and skin. Thoy do not caro
a tinker's blossing for anybody's stan
dard, nnd whou thoy invado tho cot
ton Holds of tho South thoy Bond tho
prico of cotton up in ovory mart of tho
world, gold standard or uo gold stan
dard. Thoy havo bcon doing business
with ns this summer and havo mnvod
tho 'prico of cotton up 60 por cunt.
This bug nnd theso worms haven't
many friendp, but as sluggors in an
argument with a 16 to 1 crunk thoy
aro cntitlod to tho bolt.
"Cotton brought 31 a pound in Now
York during tho war, 30 or 40 oonts a
pound tho first year aftor tho war, on
account of tho fonr years' cotton fatn
ino from 1SC1 to 1865, nnd it was sov
oral yearB getting down to its normal
prico. Tho prioo deolinod when wo
mado too muoh of it. Tho largost cot
ton crop made with slavo labor was
4,669,770 bales, and I remember it
was confidently prediotod that no suoh
crop would ovor bo mado with freo
labor. Tho crop of 1872 was loss than
3,000,000 balos, and wo gradually in
oreasod it to n littlo loss than 10,000,
000 balos in 1891. India, Egypt nnd
Brazil aro atso raising largor crops of
cotton. Tho immonso crop of 1894
was thrown upon a market illy pro
pared to recoivo it.
"For tbreo years thoro had boon less
cotton goods consumed than usual,
owing to the world wido panio and de
pression of business following tho
Baring failure, and thoso two condi
tions meeting, overproduction and un
der-consumption, brought cotton
down to a very low prioe. Some of the
Populists toll us thoro oannot be over
production until every man, woman
aud child in tho world has a rotund
Btomaoh and a full suit of clothes.
This is basod upon tho communistio
idea that it is the duty of Government
to take caro of ovory loafer who is too
lazy to work for a living, and is too
contemptiblo to waito an ana wor upon. "
Both on the Right Road.
Tho freo silvor Democrats in Ohio
who rcfuso to vote for sound money
nominees for tho Legislature may food
fat their grudges by suoh a oourso.but
taoy cannot advance their cause. Hap
pily, a Republican Legislature in Ohio
is as llkoly to bo right on tho monoy
question as a Democratic Legislature
Both parties in tho past havo mado
somobad lapses, but both aro now on
the road toward financial senso and
soundness. The cry for freo Bilver
coinago is becoming very faint and
feeble in all parts of tho country.
When the Crops Bojin to More.
It seems the way thet poopte uot thet
trouble's la the air,
For all the big men's tazea loot: as it they
bad a scare'.
But father says it I no use fer folks to bo so
Vet when tho crops beglnto move
Thny tall: about the stiver craze an' nkersily
ot eolii
Aud wonder if there fau't tome new "party"
thay kin Join!
But father ss it seems to him the people'
Kola? dumb,
Fex when the enoo lwsin to more
An' fathor es the lellars thet hasnothln'
elan ta do
Bat set around nad talk, na' talk on things
tbpt don't came truu.
Had better get a move on them anil look tor
"kingdom come,"
For when the crops begin to'raovo
uum: I
-Olatho Mirror.
To gain a hearing from sensible
pooplo who nro not attracted by th
moro Idea of poor monoy nnd moro of
it, tho silvorito orators nnd pross pro
diet a great incrcaso of prosperity
through tho "fertilizing inflnonoos"
of tho silvor stream. In ono form or
nnothor this boliot that tho froo coin
ngo of silvor into dollars would stim
ulate industry, hni given to tho froo
silvor aahoino most of its now waning
strongth. But ns with all othor ar
guments in favor of ohoap dollars ita
only basis is tho imigination of tho
nilveritoa nnd fiat monoy ndvocatos.
Tho origin of tho thoorythntn
groat incrcnio in tho nnmbor of silvor
dollars would bring prospority, is tho
fact that when business ia good, a
largo volume ot monoy ia in circula
tion. But tho freo coinago advocates
raistako causo for effcot. Businoss is
not good booauso monoy is plentiful,
but moro monoy is in circulation bo
oauso trndo 1b brisk. Tho signs of
busiuoss prospority nro general nativi
ty in all branches of productive in
dustry, nnd a largo volume of ox
ohnngos of labor product. Sinoo
monoy is moroly a tool to facilitate
tho oxohnngo of products, it is evi
dont that it docs not stimulate thoir
produotion. Tho real causo ot in
oreasod aotivity in producing nnd ox
changing commodities is inoreasod
demand. That domaud is not affect
ed in any wayby tho amount of motal
which may happen to bo coinod into
monoy, nor would the doubling of tho
quantity of money double tho domaud
for goods.
If it was intondod that tho silver
mino ownors would giro away all thoir
silvor dollars to pooplo who now havo
none, thoro would doubtlossbo a tem
porary incrcaso in tho domand for
goods. Bat no oilvorito has yot at
tempted to show how thoso who now
havo no monoy would got somo under
free oolnago unless thoy worked for
it. Any ono who now makes somo
tbing whioh others want, or who oaa
soil his labor to men who can disposo
of his products, has no difficulty in
getting-monoy. Roliof for idlo mon
or olosod faotorios can only bo found
in inercasing markets for their prod
ucts, Moroly ohangiug silvor ingots
into ooins would not oro&to a domaud,
for a Hinglo additional bushel of grain,
or nny product of mill and factory.
On tho contrary tho adoptiou ofu dif
f oront Btandard from that of all tha
loading commercial Nations would do
oroaso our foreign trado and thus re
strict our markets. Instoad of fertil
izing industry froo silvor would sori
ously injuro it.
Called Down.
Dlckcry, dioicory, dare,
Tho pig flow up In tho atr;
Tho mnn In brown
Boon brought him down,
Dlckory, dlokery, dare.
A furthor dangor is tho aver-over
hanging monaoa lost the Government
should be compollod, undor greats
stress, to refuso to pay its obligations
in gold, owing to the exposed condi
tion iu which it is placed by unwis
legislation. It is a continual soared
of anxiety to tho country lost the
great financial reversal come as the
result ot au enforced redemption of a
largo sum of Treasury notes. Inves
tors and huainoss men, at home and
abroad, watch this barometer of the
gold rosorvo, and tho keenest uncer
tainty prevails whenever tho balanco
of trade tnrn i against us. Tho mar
kets for cotton, vwhoat nnd seouritiea
aro influenced by tho slightest indica
tions of even a moderate withdrawal
of gold for shipment abroad. Tho
mere fact that wo nro buying mora
than we aro soiling nnd Bottling tha
difiereneo in yellow coin ought not to
bo u oause for alarm, nor is it, but tha
fear of inability of tbo Government to
maintain its credit is tho dominant
sourco of anxiety, and this condition
will continuo as long as tho situation
remains as it is at presout Why not
redeem them onco for all, oithor by
means of bonds or exchequer bills to
bo paid out of futuro revenues? If it
is considered undesirable torotirotho
circulation, let tho grdonbaok and
Sherman note be male the basis for
an issue o,f bank currenoy, as suggest
ed later iu this paper. Ex-Govornor
Wm. R. Merriam, of Minnesota, at
Atlanta, October 15.
Fras Sllr?r's "Ideal" Dollar.
The free silver men havo invented
that "ideal" dollar, ot which it -will
require only a few for what wo havo
to buy, but of which we can get u
great many tor what wo havo to sal),
if freo coinago doesn't reduoo tho pur
chasing power and increase tho debt-
paying power of the dollar, ono part
of iU advocates will bo disappointed.
If it does do that, others of its advocated
will not get what they want; it oer
tainly would turn out to bo tho worst
"boomerang" a sane people ovor ban
dlod. Merchant.
U jo 1 Times (letting Ih Their Work.
The good times nro killing the fre
silver oraze, and the people will see
to it that freo silver will not get a
chanoatokill the good time. Kan
sas City Star.