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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (Sept. 15, 1898)
TJTI3 OMAHA DATLT 1JEE : 15 , 1808. SILVER MEN TAKE THE FLOOR Champions of the White Metal Run the Monetary Conference. SENATOR ALLEN CALLED ON TO PRESIDE Clinlrninii Timnc In Ocrniilril In I'rr-rnllnur Mix Tlicnrlron ( lie .Mnltrr of the Sni-rcil llntlo for I'rc The giants of the monetary congress met In the arena yesterday nnd the i fighting of word nnd wit was I fast end furious. These were Judge M. L. Crawford of Dallas , a Texas ' orator of wide reputation ns a gold cham pion ; Senator W. V. Allen of this state , the conceded brains of the populist party of the country ; Charles A. Towne of Duluth , the Minnesota ex-congressman who Is the na tional chairman of the silver republicans and their acknowledged leader ; cx-Unlted States Senator J. M. Carey of Wyoming , who on account of his vote against the free colnago bill lost his scat ; Congressman C. N. Tow- ler of Now Jersey , a present member of the banking nnd currency committee of the lower ! house at Washington , and who ts looking forward to n. renomlnatlon for a third term October 6 , and several other knights of the inctals. Mr. Towno took the affirmative for free colnago of silver nt the 16 to 1 ratio , and there was a clashing of oral swords nnd hacking of logical armor that stirred the -pcctatorn up to the highest pitch of en thusiasm and riveted their attention from beginning to end upon the spectacle of forensic combat. According to program , It was devoted to fillver as the second of the three days ot the currency convention , and every scat In the Nebraska state building , where the debate - bate Is being conducted , was occupied , show- Ins an Increased Interest on the part of the public. Almost nn hour at the beginning , however , after J. Sterling Morton called the gathering to order , was occupied by Judge Crawford to conclude the affirmative position of the defenders ot the gold standard. The rest of the day was given over to the silver advocates and their eventual opponents , the ! paper llatlsts , ex-Governor Morton sur rendering the chair to Senator Allen. The burden of Judge Crawford's address was : The free colnago of silver at 16 to 1 means not bimetallism , but silver monometallism ; not a double standard , but a single silver standard. When the government makes a t r certain weight of ono metal the lawful equiv alent of n defined weight ot another metal as money , the overvalued metal Is the- cheaper and drives the other out , and bimetallism exists only on the statute books ; It Is a theory and not n fact. This is Grcsham's law. It Is changeless. The coinage history of our own and every other nation demon- titrates Its truth. If you make a dollar that Is not worth a gold dollar , you derange the currency , con fuse all values and Inlllct great Injury upon I the people ot this country. Let us ask our- bclvcs If there Is now existing ln < thls coun try a condition which would Justify or excuse - 1 cuso the adoption of a monetary system nnd a standard of value at war with that main tained by all the great commercial nations of the earth. Moro than nine-tenths of our commerce Is with gold standard countries. Our exports vastly exceed our Imports ; the balance of trade is in our favor , and to settle - tlo It gold Is pouring In upon us In an al most unbroken stream Our locomotives pull the trains In Siberia and Japan ; our reapers van bo seen In the harvest fields all over the world. Even European dudes ride American wheels. Wo have entered the contest for the rommerclal supremacy of the world. If we would win wo must have gold for our stand ard nnd smokeless powder for our guns. This country Is not going to ruin. Wo are better off now than over before , nnd conditions are improving all the time. Wo pay higher wages than any land upon enrt\ and our laboring people enjoy more of the' comforts and lux uries of life. What country has made such progress In so short a time ? Wo don't want to change our policy. Wo cannot afford to risk nn experiment. All wo want the govern ment to do is to maintain a financial sys tem 111 harmony with the other great nations of the world and glvo us a banking system that will equalize the Interest rates nnd loan- nble capital between nil sections of the coun try. The good sense and enterprise of the American people will do the rest. Senator Alleii'n Introduction. T In taking the chair Senator Allen said : 1 was Invited a few weeks ago to tnko part In this debate , but ns this great ex position ts being held on soil upon which I live nnd In the state which I have the honor to represent In the United States senate , I regard It more my part to act In the capacity of a host than guest nnd the duty of n host is to sit silent rather than talk. I want to say to the gentlemen ot all sides of this discussion that people of this great commonwealth bid them welcome and nro Interested. The prnlrles of Nebraska are broad nnd our people are liberal In their views. But for the fact that my name was re ferred to by a distinguished gentleman from New York yesterday In his allusion to a speech I made in the United States senate respecting the issue of bonds under the Clo\ eland administration I would not speak with any reference to the subject matter of this debate. I did say then and repeat , and mil prepared to demonstrate , that when Sec retary Carlisle made the bond issue under Mr. Cleveland that there was not upon the statute books of the country any law nu- tliLrlznis it. U was assumed that the power [ 'Xls'tid ' under thn resumption act of 1875 It dors not exist there. But the American people are too generous , as well as Just , as I said then , to receive money from these investors In our bonds without paying fully for them , and every bond contracted foi will be paid. We received the money am cannot afford to Maud on a technicality. Let mo say that as an humble citizen of the state of Nebraska I wish this debate could bo repeated In every city , village nm Iiamlct In our land. H is absolutely Incon ceivable to mo that there should bo any controversy ai to what constitutes mpney I cannot conceive ot a man being a goli monometalllst. Money Is a creation of law ( Loud applause front the fiattsts. ) This has been the doctrine ot all authorities on finance from Aristotle up to tBc prcsen day. I can understand how a man who wants a smaller volume of money and a general despoliation ot business may bo tn favor of the gold standard , but for the man who wants Justice and that nil men sbal rnjoy the fruits of their labor , I cannot con colvo bow ho can bo a defender of the gel < standard. , Towne Stnrtlrn llln llenrem , Mr. Towno had a carefully prepared dls qutsltlon In support ot the free colnag theory , and ho took up the time to noon I reading it , being frequently Interrupted b I I "Iloth nir wife and uiTcelf h To been LT u lur CAhCAKETS ud ther arc the belt medicine we have over bad In too house. Last w 9lt my wife was frantlo with Ueaflnche for twodays. she tried some of vourCASCAHETS , and they relieved the pain fn her head almost Immediately We bolhrccnmmrndCascarets. " CllAS , STEDEFOnO , Safe & Deposit Co. , Pltuburg , Pa. Pleaiant , Ptlatablo. Potent. Tatte Riwl nn QooJ. Nerer Sicken.l . ( lrpeldc ? Kc iuc ! . . . CURE CONSTIPATION. ll.rll. , l. M ; f f. . > . Uk.t. . M.r.il | , S . T SIT KO-TO-IAG rffimlve bunttn of npplnu e from those In the I niidlcnro who sympathized with hi * views , Uno thing nlilrh Martlet ) his nuillenco ilur- Ing the course of Ms * pce'h vins a eUtomont to the effect thnt the use of the term "double standard" la ix verbal error that It t In properly a "joint contribution to n com * inon Btatiilartl , ai there can not bo two nt > - polutcd , the utandard being the fixed rein * tlonsblp between the two metals under free coinage nt If ! to 1. It amounts , therefore , tea a lnglc standard after all. With a , few explanations by way of n preface , he enumerated his affirmative propo- | sltlons , to-wlt : That money Is purchasing power , Its value Indefinable. In terms of prices ; that stability of value Is a test of Rood money ; that value Is not absolute , but Is the exchange relationship between things based upon their ratio to each other ; that falling prices constitute an Industrial , economic , political and social misfortune ; that falling prices drive money away from Industries and Into the bank vaults ; that the hoarding of money In the banks Is as much an evil as would bo the congregating by the railroads of nil their cars in their yards ; that the gold standard Is only contended for In the In terests of the creditor classes and Is un sound nnd dishonest ; that the effect would be to produce a glacial congealed , horrible permanency a universal freezing up of nil the Industrial , commercial , social and , I political systems of the race. He charged , i the defenders of the gold standard In tin- ebuto with admitting a progressive fall of rices for the last thirty-five years. Along vith this , he said , they had denied the uaritltatlvo theory of money , and he asked. If the quantity of money Is not a rcgulanl 1 f values , what Is ? Do they mean to hay It vould make no difference to prices whether ho quantity of money consisted of only a < Ingto dollar or ten thousand million ? " UN Dclnllcil The balance of his ntgument was sub- tantltilly the following : The era of ambiguity Is past. The recent itatu conventions of the republican party mvo with marked unanimity declared them- elves unrcBonedly for the gold standard , nnd we encounter in these debates the vowed defenders of that system , not Its pologlsts , but its champions. I congratu- ate the National Sound Money league on ts courage nnd candor. I shall seek as much as possible to avoid [ abatable ground and shall endeavor to em- jody my argument In n number of propo rtions whereof at least n great part shall cst upon conceded principles of political % conomy nnd upon facts generally admitted. 7or wo contend that the defense of the gold itandard Imolves the overthrow of the main ) ody of accepted economic features and the ejection of customary and natural Infer- cncfB from statistical data and human ex- lerlence. Whatever else money may be defined to ic , it is purchasing power. Referred to a lartlculnr commodity this purchasing power 'xprcsscs itself as the price of that com modity. tlut the purchasing power of money extends to all commodities. It can thcre- ere bo1 truly expressed only by reference o all commodities. In other words , the purchasing power of money is Indefinable except in terms of average prices. Stability of value , or the nearest practica ble approach to It , is the test of goodness n money. This Is generally admitted. The physical-simplicity school assumes gold In idvanco as the perfect standard , as change- ess and invariable , nnd then gauges the stability or Instability of everything else , Deluding other forms of money , by com parison with gold. IJy the other view , lowever , stability of value means con stancy of exchange relations to other things , nvurlablllty of purchasing power. Falling prices are an Industrial , economic , political and social evil of almost un- larallcled proportions. They discourage In- lustrles , drive money from activity Into dlcncss , from the channels ) of trade Into .ho bank vaults , reduce wages and throw la borers out of employment. I'nlt IN Unnoiiml. If , according to the premises , money Is purchasing power over things in general , and if the vnluo of a money unit consists n the amount it possesses of this purchasing lower , and if falling prices are Inimical to ndustrlal progress and social happiness , and , hus ultimately destructive of liberty. It fol- ows that a money system tha't furnishes such a unit IB both unsound and dishonest ; and , If during any given period , the aver age level of general prices undergoes n progressive fall , this fact itself is an Indict ment of the money system In operation. The gold standard , dating approximately from 1873 , has furnished the nations at tempting to use It as a. money unit since that date , upon the whole , a constantly rls- in value until the purchasing power of a unit weight of gold Is today approxi mately 100 per cent greater than In 1873. This Indisputable and portentious fact , of the tremendous appreciation of gold. Is the central point of this great controversy. At present the experiment of the gold standard Is in a state of Incompleteness. To go on with it to the logical conclusion of the gold MUtiatlon system is a practical Impossibility , while It Is equally out of the question for the world to remain In Its present monetary condition. The gold standard in Its simplicity contemplates the abolition of every other kind of money of full debt paying power except gold alone , and the use of various forms of credit based on gold In the ordinary transactions of busi ness. The par of exchange among nations can bo restored In only one of two ways- Either by the universal adoption of the gold stan dard , so that all nations shall use a com mon measure of one metal , or by the restor ation of genuine bimetallism , so that all nations may possess n common measure composed of the joint volume of both gold and silver. We , therefore , reach the conclusion that the only way to bring back a par of ex change between gold nnd silver is by restor ing to silver the full money opportunities of which it has been deprived by law , by again authorizing the coinage and use of silver as standard money co-ordinate with gold. ) " ( Tct at Free Colnnm' . Wo contend thnt by opening the mints of the United States to the free coinage of sil ver , as well as of gold , at 1G to 1 , the fall of prices would bo stopped. This Is admit ted by our opponents. Their fear Is of ar alleged "fifty-cent" dollar nnd n "fifty-cent" dollar Is only another name for 100 per cent rise of average prices. Dut the rise would not bo BO high , nor anything like It. The "fifty-cent" dollar cry Is only a cam paign catch-phrase. No economist would soberly endorse it. The Introduction of sil ver Into competition with gold would de prive the latter of Us monopoly of measur ing values nnd registering prices. The en dowment of silver with all the dignity nnd power of gold would greatly add to Its de mand. The effect would be that golt would fall toward silver nnd sliver wouli' ' rise toward gold , the result being a gradua elevation of average prices that woulr eventually reach a compromise about hall way between their present level and thai from which they fell , or on advance of about 23 per cent. nut we are told that all the gold In the country , estimated at $600,000,000 , would be driven out of the country If the mints wore opened to silver. There is no more grotes que figure of speech In frequent use todn > than this of the gold advocates , which repre sents the alleged expulsion of gold. The gold could not go any faster than It was displaced. Why has not our gold gone al ready in fear of the J500.000.000 ot silver we now have ? The answer Is. because there Is a , demand for the grid nere. In addltlor to the use of the sliver , and our scale o prices Is EO adjusted to the Internationa range of low prices an to enable us to boh It. As prices bean gradually to rise under tbe operations of our free colnago law , the first effect would be to make this country according to the familiar Rlcardlan formula "a poor place to buy In nnd a coed place to sell in. " Our Imports would tend tn Increase and our exports to decrease. nj nnd by there would be more demand In New York for foreign exchange In payment o our purchases abroad than could be offset bv bills drawn against our export. Ex- chtnca would rise to the "specie point" nnd unable loncer to pay In Roods , we should settle the balance In gold. This process J would continue until the International level of prices was restored and our money vol ume and prices were In equilibrium. It vould be complete lone before ( ho loss of our present Mock of gold , unltim there Is ' Komewhcro silver that would bo minted hero and pas Into business sufficient In amount to replace the entire quantity of ( yellow metal In the country , Thnt there Is iiuch nn amount of 8'lver ' that could and would bo available for the purpose , I deuy. Curry HritllcN (11 ( Tovtnp. Kx-Scnntor Carey of Wyoming took up tlio gauntlet flung so recklessly at the boots of i the gold standard advocates and proceeded to find the weak spots In Mr. Towne's armor by a reply In which ho combattcd every con tention. Said ho In brief. Our contention Is that the best standard of money for the extreme west , or the coun try that Is most thoroughly Impregnated and Imbued with the Tanners' alliance and popullstlc theories , Is the best standard for the extreme cast. The best standard for the agriculturist of Kansas nnd Nebraska U tlio best standard for New York City. Speak ing of a standard , v. o allude to that quality possessed by a metal which measures all alues lic.t. gives Etnblllfy and elasticity. but circulates In all sections without de preciation , that goes and comes without Its value being questioned or susplcloned. Tint foundation of thnt standard , among other things , should be labor. The speaker has believed thnt a double standard might be maintained through In ternational agreement. Hut such an agree ment appears no longer probable. The adoption of thu gold standard Is rapidly being accomplished by all the nations that have hitherto clung to silver. That the displacement of silver nnd the supremacy of gold as n standard has been brought about by conditions not the result of legis lation , or the result of any effort on the part of banks , banking Institutions or Individu als , but from natural causes , Is rapidly be- coming n llxed conviction , For centuries , acting on theory only , there hnvo been those who have Insisted that , by legislation , coincthlng could be created out of nothing. Many times has the experiment been tried , nnd ns many times have these experiments failed. There nro those today , ns there were yesterday , who claim that It Is within the province of the government to crcnto money. This was not tried in the United States previous to the war period , when , driven by the urgent demand for currency to pay soldiers In the field , the congress of the United States re orted to the doubtful authority of Issuing cgal tender notes commonly known ns greenbacks , " first Issuing $150,000,000 , nnd igaln , under distressing circumstances , pro- Idlng for the Issue of $1BO,000,000 more , and till again , repeating the two bad nets by unking n third Issue , or a total authorlza- lou of $4r,0,000,000. , It Is dlfilciiU to tell how much these acts cost the taxpayers of the United States. It las been estimated that it Increased the lost of the war fully one-half Rut whether hat be true or not , wo knew that It , to n great extent , undermined the credit of the jovcrnment when credit was most needed. The time has certainly arrived when the gold standard should be accepted by all he people , and thnt the nation should be placed on n sound financial basis ; that Its currency should be uniform ami that the nation should go out of the banking business and not be hereafter compelled to go Into the market and buy gold to maintain Its established high credit. The agitation which has been kept alive with reference to the free nnd unlimited colnago of silver for n quarter of a century n this country has done more dnmagothan all of the failures of crops , plagues nnd pestilences that could befall the American icoplo In n century. The west Is settled by a people generally young nnd Impressionable. In political cam lalgns they nro easily led to the right or eft , but In the end they go to the right Bide of great questions. The people of a lew- country should not bo Judged too larshly. They may follow false teachers a time , but they discover their errors nnd get on the right side of every national question before its final settlement. A new- people tnko an advanced stand ; they make ixperiments , nnd in the end reach sound conclusions. Dave Mercer , the representative of this llstrlct In congress for three terras and n sure probability as n candidate for a fourth erm , dropped In about noon and was a most attentive listener. Three of Them lit It. Congressman Fowler of Now Jersey , Jeorgo Fred Williams of Boston and C. A , Towno of Duluth kept each other pretty > usy during the afternoon. Mr. Towne pre sided most of the time and Williams and A > wler made the two speeches thnt charac- .erlzed the afternoon's debate , though there were a number of other efforts. Mr. Williams led off. He admitted his conversion to the 16 to 1 theory from the gold standard , but said It had been due ather to the philanthropic reason Involved n what Is to him a great social question than to the mere monetary phase of the matter. His speech was for the purpose of showing that the Industrial conditions and particularly the agricultural conditions had gotten in a bad shape In Europe as the re sult of the gold standard , and to this end 10 quoted Secretary Dredge of the English Labor commission , Minister Mellne of France and others. The English royal com mission of 1S93 , he said , had reported a lecllno in farm property of 60 per cent and predicted also thnt If the general fall of Trices should continue ruination would con Iront the agrarian Interests , ten of the four teen members of thnt commission concluding that the only remedy was the restoration of the exchange value between the two metals. A brief interruption here occurred to ar range for the Mystic Shrlucrs to have the Auditorium instead of the Nebraska State building , which had been assigned to them for the day on the exposition program , and the Shriners gave the congress n band serenade ns an appreciation of courtesies shown them by the currency convention. Replying to Judge Crawford's expression during the morning to the effect that he would hate to sec the laborers of the coun try reduced to a skim milk diet , Mr. Wil liams said the New Hcdford strikers of his state are now subsisting on clams , and that the boasted prosperity of New England nnd the north Is based upon the depression of the farms and plantations of the west and south. He argued that wages have fallen as well as prices , and then , divided his sub ject into two considerations , first , the ef fect of the break In exchange between sil ver and gold , its International phase ; second end , the effect of nn appreciating money upon the debtor classes , Its domestic phase. Then ho attributed Indian competition in the Liverpool market with the American wheat grower to the necessity of the American producer for getting a price measured In terms of gold , whereas the grower of the East Indies gets a price measured In terms of silver. ( old nn n I/evoler. The remainder of Mr. Williams' argument was of a strictly analytical character to demonstrate how Appreciated money , re quiring more products for a given sum , In creases the burden of debt , nnd ho charged that prices had fallen In 1S93 as much as 40 per cent , owing to a general mortgage foreclosure upon the entire country. In an era of falling prices he favored a protective tariff , but he thought the gold standard a levelcr that passed over every tariff wall. He asked : If It Is not dishonest to lower prices by legislation at tbe expense of the debtor Is It dishonest to ralso prices by legislation for the relief of the debtor ? Wo are charged with being repudlators , but any system of policy demanded by the best In terests of the people Is not dishonest. The congressional records are full of prophecies cf what would result from the establishment ot the gold standard , the contraction of the money volume and the appreciation ot the dollar. As between the foreign creditor and the American people he would choose the Amer ican people. Anson Wolcott of Indiana , an old silver advocate who had seen eighty winters , followed with. a lot of statistics to prove that the financial legislation of the I country ever since 1857 has been In the direction of a steady destruction of the clr- dilating medium. Ho said : Our first duty Is to the American people From a congressional authority I learn tha the rtcbt of the country Aggregate $31 I 000.000.000. The demonetisation of silver In 1873 was the very climax of wrong. It waN the I'nlted Slates' part of n grrat Inter national scheme to destroy property ni d tabor values , Instead of the parity having been maintained It has been destroyed. In three years after the demonetization of sil ver the farmers of the country had suffered n loss In corn alone of J33JDi0,000 ( ! and In live stock of J700.000.000 , to say nothing of thousands of millions In the other Items of iifc'-'iculture. Some of his awn misadventures In busi ness speculations were detailed by Mr. Wol cott. Wiiittn Uiinntll.v , Xot ( lunllty. Judge Joseph Sheldon of New Haven , Conn. , filled In ten minutes to uphold the ' quantitative theory. His postulate was that the quantity ot money determines the gen eral range of prices. In support of this ho declared : If wo have to buy money with work nud products wo have to glvo more of them whrn there Is llttlo money In circulation ) and when there Is more money wo glvo less of the.n. This Is the quantitative theory. If nil the money of the world were dlmln- ' ished one-half , prices tn general would fall one-half. The demonetization of slhcr di minish , s the money volume In this country one-half. I rest my argument on the solid Ground of moral right , expediency nnd thu concuircnce of fin.inci.il nutl-orltles. A brief paper came next from President Thomas n. Wills of the Kansas Agricul tural college on the value of academic opin ions on economic question1) In reply to a statement by Horace White the day previ ous that the college professors of the country - ' try are unanimous in their support of the i gold standard and bank issue of paper i money. Citing the case of Prof. Andrews ' of Ilrown university nnd his own experience with an Inquisition at Lawrence university I at Ai.pleton. Wls. , In 1S92 , and also qtiot- j Ing from James Henry Raymond , n trustee of the Northwestern university nt Evanston - ton , Ind. , Fred W. Peck , one of the direc tors of the Chicago university ; Judge Henry E. Hol'.and , a Ynlo trustee , and President Francis A. Walker of Princeton , his object was to show that wealth dictates to all In stitutions of learning nnd no college pro fessor can safely entertain nnd teach views at variance with the supposed Interests of the college boards. Therefore he con cluded : The labored and highly technical expres sions of opinion by economic and sociological professors , in universities controlled by the rich , become at once precisely as valuable as the expressions on the same subjects by the rich themselves and will weigh aa much and no more In the scales of enlightened public opinion. No greater value should bo attached to them than to the ex-parte plea of a paid attorney. KoivlorVnkcM Them t'p. Hitherto , with the exception of the pecches of Judge Crawford and ex-Senator arcy. the sllvcrltcs had had thlucs all heir own way , but now a turn cam& for he cold side and Congressman C. N. bow er of New Jersey took the platform In be- elf of the gold standard. Mr. Fowler tried Is adroit tactics on both Messrs. Williams nd Towne , but he was much more success- ul with the former than with the latter , ilr. Towuo was too cautious to be led Into trap. Mr. Fowler's method v\\s to put ntch questions. For Instance , Williams ad said In his speech that the only pros- erous persons In New England are the rowers. Mr. Fowler asked him ! f wine ras a luxury. "It is a luxury to me , " Wll- ams answered. "Then If wlno Is a luxury o you , possibly beer Is to the poor ; 'ou ave been talking about. Now If the brow- TB are the only persons prospering In your tale , I would llko to ask who buys and rinks the beer ? " Naturally this turned the lauch on Mr. Vllllnms. Leaving Mr. Williams to sjffer n his discomfiture , Mr. Fowler fired sev- ral knotty queries at Mr. Towtic. How- iver , as Mr. Towno was pretty particular .bout the kind of questions ho would rssay n answer to , ho oscaaed the unpleasant xperlenco of his fellow warrior , Williams , evertheless the 'New ' Jersey representative Id manage to create a laugh at Mr. 'owno's ' expense' when he told the audience hat ho had had the pleasure of listening hree years ago to the very Identical speech .lr. . Towno had delivered during the morn- ng and was pleased to say that while thnt cntleman "had lost some of his courtesies o had lost none of his graces nnd had : alned urcatly In action. " So far as Wills nd the college professors went , Mr. Fewer - er believed In property and property rights nd observed that property and taxation tad made possible the Institutions of learn- ng In the country. j Kowlor on 1'rlcca. Mr. Fowler had not only to make nn halt our argument In behalf of the gold stand- , rd but also to answer a long list of Inter- ogatorles afterwards from Mr. Williams , lo presented plenty of figures to show the eneflt of an appreciated money to- the mil- Ions of wage earners , bank depositors and Ifo insurance policy holders. Said he : You say that free coinage , of silver gave ranee a larger volume of money , yet , hough she has a per capita of J35 , almost , wlco that of Great Ilritaln , prices nro ewer there. As a matter of fact , the free : olnago of silver does not enter Into the question of per capita circulation. France with a per capita of $35 , England with $18 , Switzerland with $16 , Norway with $6 , Ha waii with $60 , the Straits Settlements with " 63 are the prices In those countries In ac cordance with the amount of money In cir culation. Prices nro lower In Franco be- cnuso pass and check books are not used here , whereas the volume of business done n England by means of bank checks and drafts Is simply enormous. Every day $100- 000,000 worth ot business is done on the London Stock exchange , yet only one-fourth of 1 per cent Is done with cash. William J. Bryan said in a speech on the floor of congress March 16 , 1S92 , that prices had fallen because ot the Inventive genius of man. Yet you say they have fallen because - cause of the gold standard and the resultant appreciation of money. The great question s not the price of anything , but Its ex changeability your ability to exchange a day's labor for what you want. From the iMdrich report to the senate I learn that In 1840 the average wage was $1 , and in 1891 , $2.09. Mark you , the $2.09 paid In 1S91 was n double dollars In 200-cent dollars , as you say so that , compared with 1840 , the average - ago wage in 1891 was equivalent to $4.18. Prices do fall , and thank Cod they do ! Thank God that for the Bake of the farmer steel rails have fallen from $150 a ton to $15 , freight one-fourth , nnd that he can get reapers for one-fourth the price bo once had to pay ! In answer to Mr. Towne You say wo had a prosperous country from 1S65 to 1872 un der bimetallism , yet there was not a single dollar of either silver or gold In circulation and the per capita fell off $2. Prices fell lower between 1865 and 1873 than after 1873. From 1866 to 1873 the fall was 1.43 per an num and from 1873 to 1891 It was 1.33 per annum. Prices of crops are as high now In Chicago ns In any one year of any one decade since 1840. Corn is now 30 cents In Chicago. Mind you this Is equivalent to 60 cents , since our money has doubled in purchasing power , according to our silver friends. Some Actual CoiKlltloim. There was a contest between him and Mr Towne over whether Japan and Mexico hai progressed or retrograded , Japan having abandoned free coinage and Mexico bavins refused to do so , Mr. Fowler attribute ! the progress ot the United States to steam and electricity and the Investment of for clgn capital , and Mexico's to her rallroai development. As to the conditions U Massachusetts the bank deposits there hat greatly Increased a phenomenon genera throughout the whole country. In 1873 th bank depositors of the country nuraberet 1,630,846 and their deposits footed up total of $549,874,358 , but now the total re sources of all banking Institutions figure u the stupendous sum of $7,822,085,900. Th savings banks depositors alone numbe 5,201,132 and their deposits aggregate $1 , 039,36,03. , There nro P,413DIG policy hold- i era In the eld line life Insurance companies' calling for Insurance amounting to $ ; , ! M3 , 067,192 , while the assessment companies have 1,039,062 policy holders railing for Insurance - suranco amounting In the aggregate to $ * , - 7l > 9,423,000. This progress , he said , Is duo to the su perior Intelligence of the American people , and a civilization thnt will add something every year to a man's wages nnd still lower the prices he has to pay for things ho ueeds , furnishing him with every modern conven ience nt a moderate cost , means a better condition. Captain Illlss ot Chicago spoke on the wage question again , ami J. Sterling Morton gave some reasons for the gold standard. i\fiilnir Dclintc IN licnrrnl , In the evening speakers on both sides rapidly followed each other. Henry W. Peabody - body of Boston believed that decline In silver was duo to the overproduction of the metal and attributed the depression of recent years to a plethora of money instead of to any lack. Congressman C. S. llartmnn of Mon tana was glad that the gold standard advo cates had thrown off the mask of Interna tional bimetallism nnd had come out openly for the single gold standard. Henceforth the Hues of political conflict would be sharply drawn. The United States , he said , was peculiarly Interested In not having nn appreciated money , because It was the great est producing and debtor nation on the earth. J. Adam Dedc of Duluth , with the exposi tion for his text to show the prosperous con- dltlon of the transmlsslsslppl region , said It was plain the gold standard had not ruined everybody. Improved methods In transpor tation nnd facilities for producing It had re duced the price of silver and Iron also. The great west had been developed by the rail roads but recently. Financial conditions in Japan nnd the reasons therefor were reviewed by ex-Sen- ntor Fred Uubols of Idaho and Congressman Dcarmond of Missouri explained the quanti tative theory of money. A statistical paper followed from Dr. S. A. Robinson of the New York Uoard of Trade and Transporta tion on the mortgage relation between New York and the rest of the country. Ho showed how mortgages bad been rapidly can celed the last two years. John A. Orlcr ot Chicago defined the word "value" ns applied to money ; II. L. Franlng of Ohio gave the socio-political aspect of the money agita tion and there were a number of other speeches , the convention lasting until a late hour , nnd the argument for the sllvcrltes being closed by George H. Shlbley with a talk on the law of wages nnd prices , H. F. Bartlno on the logic of the idea of expan sion , nnd Mr. Towno on the merits of the silver side of the controversy In general. Today Is the last of the convention and will be devoted to the advocacy of a paper currency by unlimited governmental Issue , Irredeemable In either metals. > < > I'l-nlPNtH Fllrd. The tlmo for filing protests against the candidates for delegates to bo voted for at the republican primaries next Friday , ex pired at noon today , and none had been re > ported at that hour. Neither were there any protests against the placing of names of candidates for ofilco upon the delegate tickets , as this will only bo done In two wards. In the Sixth ward the names of Miles D. Houck and J. M. Talbot , both can- Idates for the legislature , will be upon the allots , but there will practically be two ckets at the primary , although one of them ontalns but six names. In the Ninth wnrd 10 names of J. A. Beverly , R. H. Olmstcd nd William A , Gardner , all candidates for ho legislature , will appear upon the ballot , nd there will be but ono ticket at the rlmary. PERSONAL PARAGRAPHS. E. J. Hughes ot Iowa Is at the Mlllard. M. N. Coe of Chicago Is stopping nt the Illlard. J. M. Brown of Chicago Is stopping nt the Illlard. Leonard Beuton of Now York Is at the Illlard. W. R. Abbott of Fort Smith , Ark. , Is at ho M'llard. W. E. Peebles of Tender was nn Omaha Isltor yesterday. R. P. Walt and wife of Shaw , Minn. , are ucsts cf tbe Mlllard. John H. MncColl of Lexington has been nklng In the Shrlncr festivities. H. W. Nason and F. C. Schrnmm of Salt -.ako City are at the Mlllard. They arc ex- osltton vtbttors. James P. Hall of Buffalo , who has been Isltlng hare for n few days , left for home esterday afternoon. J. M. Thomas and wife of Columbus and C. Kortz and wlfo of Cleveland are Ohio Isltors to the exposition. M. Dahlgrcu , wlfo and son , of Velnrdena , lexlco , friends ot J. E. Market , are in the Ity attending the exposition. Harry Ford , formerly connected with the few York Life Insurance company In this ity , Is In the city from Chicago. Edgar Howard of Papllllon cnmo up yes- erdny to take part in the Shrlner parade , [ e was accompanied by Mrs. Howard. Mrs. Carrie G. Moran of Waco , Tex. , reprc- entlng Orann's Iconoclast , Is visiting tbo xposltlon. She Is registered at the Mlllard. G. S. Holmes , manager of the Knutsford , t Salt Lake City , Is In the cltv attending he exposition , accompanied by his wife and aughtcr. W. Hudnall and Ben Carter of WaBhlng- on , inspectors In the Treasury department , re taking in the exposition. They are nt ho Mtllard. Mr. and Mrs. Clarke Colt returned last ivenlng from Missouri Valley , la. , where hey have been spending a few days. Mr. Valtlcs of Missouri Valley returned with hem and will bo their guest for a few days. W. B. Howell , first assistant secretary of ho treasury nt Washington , arrived In Omaha yesterday. Ho will visit the ex- losltlon and Inspect the work of the customs filco in the city and at the exposition grounds. Ho is stopping at the Mlllard. F. A. Hood ot Chattanooga , Tenn. , has been visiting the exposition. Mr. Hood made many visits to Cblckamauga park whllo the soldiers were there and made the acquaintance of many of the Second Ne- iraska boys , n largo number of whom ho ias been pleased to meet since ho came lere. lere.Walter Walter B. Roberts and Budge Branch , two well known young men of this city , returned ast evening from Dillon , Mont. , where they spent the summer looking for bear and any other game that might chance In their way. Rev. J. G. S. Her of the St. Paul Lutheran church , corner Parker and Twenty-eighth street , left last night for Denver , Colo. Nebraskans at the hotels : J. C. Mason , Lincoln ; William A. Jones , Nebraska City ; Holdermnn , North Bend ; J. H. Pope , Sil ver City ; C , Sparks , Valentine ; N. D. Jen- Hen , Nellgb : George T3. nstlngs and wife , Arcadia ; W. J. Kelly. Klmball ; Theodore Wldaman and wife , Aurora ; L. R. Brush and wife , Ashland , George McNeff , Fullerton ; S , 3. Shaw , Dunbar ; Ike Lambcrson , U. S. . Overton , Gibbon ; E. G. Wjdlcy , Aurora. Carl Larson , his son nnd daughter , Gustal and Bertha , of Soderhamn , Sweden , hav < been exposition visitors for two weeks Urgent business called him for n return trl [ the other day , but bin two children will In guests of their uncle. L. P. Larson , am family of Fremont. Gustaf and Ilortha wll spend two years studying the Engllst language in this country nnd the progran Is to muet their parents at the Paris expo Bitlou In 1900. LOCAL BREVITIES , The Young "Men's " Republican club of th First ward has Its weekly meeting on Tnurs day evening , this week , at Grandvlew hall Third and Pine streets. Andrew Harpster , who It ls alleged stol and disposed of a cow belonging to Itobei Booker , September 8. was given n hearln before Judge Gordon yesterday , which re suited In his being held to the dlstric court in bonds of $800. The Pennsylvania club will hold n mrcl Ing Friday night at 8 o'clock at Commercli club rooms. All Pennsylvanlans are can cstly requested to bo present with the wives and friends. Several committees o Pennsylvania day and picnic will report. BATTLE OF POOR HUMANITY Workers Who Strive to Ameliorate Poverty nnd Oriuio Meet Hero , NOTABLE CONVENTION BEGINS TONIGHT liiiil I'onfcrpnrc of Olinr- Hlrn nml Ciirrc't'tlonHrlim - To- KCtlirr l.fiiilrri In Hie Work \Vlio Will DfliutLIMiiui ) . ' Representatives * of Institutions and organ izations engaged In the uplifting ot human ity arrived In the city yesterday nnd today , to attend the Transmlsslsslppl Conference 1 ' of Charities nnd Corrections. The sessions will open tonight nt tlio First Congrega tional church nnd during the live days fol lowing there will bo discussions oy the leading workers In chnrltablo lines 'n tlio country. The delegations , nro not confined to the ttansmlsslsslppl territory na workers will bo In attendance from Now York. Ohio. Michigan nnd Wisconsin. The general pur pose of the conference Is for the tntrrcluuso of Ideas nmong men who ha\i ) accomplished results In the comparatively new .Icld ot j scientific charitable and correctional work. j i It Is expected that the dlRCitsslons will fur nish more accurate Information to the In terested public than any number ot text books on sociology because ot the specialized experience back of them. The fact is also dwelt upon that the con ference will bo entirely free from any de nominational leaning nnd that the only mo tive of Its members will bo the good of their fellow men. The program has been ar ranged with this thought in mind nnd nt the opening session tonight the program will bo divided among a varied number of pro- tcstnnt denominations with representations also from the Jewish nnd Catholic churches. I.lllf Of till * DlNlMINNlon. The discussions will bo upon subjects of n charitable , correctional and philanthropic nature , although the latter branch Is no" formally represented by delegates. Tbo charitable phase will occupy a large amount of attention and the most approved meth ods of lending aid to the needy will bo brought out. Under this department \\lll come the meetings of the State Boards of Charities to compare notes rcgaidlng the administration of state Institutions , repre sentatives of private institutions for char itable work and also those appointed by governors of states nnd mayors of cities for purposes of ofilclol research. Ono of the principal speakers on charity organiza tions will bo S. N. RoFcnau , formerly of Omaha and now nt the head of the Hebrew benevolent organizations of New York. Such local relief associations ns the Creche. Asso ciated Charities , the Omaha City Mission , the Child Saving Institute , St. James Orphanage ' Christian association phanage , the Women's tion , the Young Men's Hebrew Benevolent society and the Visiting Nurses' association will also be represented. Under the head of corrections , Industrial school work and prison conditions will be commented on by these whose life work has been among these surroundings. The sub jects of Jails nnd work bouses will bo pre sented by General R. Brlnkerhoff of the State Board of Charities of Ohio. Prison methods will bo spoken of by Prof. C R Hemlcrson of tlio Chicago University nnd life In state reformatories will be explained by W. C. Klhlngton. Nashville , Tcnn. , Dr W. A. Hnle , Dayton , 0. ; and C. W. Hoxle , Kearney , Neb. The Child saving problem will bo discussed under the head of philan thropic work and the social settlement movement will nlso bo spoken of by those who have been personally concerned in such experiments. Welcome COIIHToiilK" < - The session tonight will be In the form of an opening reception and welcoming ad dresses will bo given by Governor Holcomb , president of the State Conference of Chaii- tles and Corrections under whoso auspices the convention Is held , Mayor Moores and the clergy of 'tho ' city. The morning session tomorrow will be In itho hands of state boards of charities and the afternoon will bo divided between a discussion of charity organizations nnd a reception nt the Llnin- ger art gallery from 4 to G o'clock , which is tendered to delegates with the usual hos pitality ot Us owner. The regular sessions have been planned so thnt the visitors will have their afternoons free to visit the ex position. On Sunday the pulpits ot the city will bo largely filled by clergymen In attendance nt the conference. The committee In charge of the. reception of guests Is made up of Prof. Glllespie , G. W. Llnlnger , Thomas Kllpatrlck , Mrs. Fran ces Ford nnd Rev. John Williams. The com mittee has arranged for the entertainment of 300 accredited delegates nnd It Is expected that that many more will attend from out of the city out of personal Interest. The details of the conference are In the ban le of Rev. A. W. Clark , John Laughland ami John Ilcbard. THE EXCELLENCE OP SYRUP OF FIGS Is iluo not only to the originality ntul simplicity of the combination , but nlso to tlio cure nutl skill with which it is manufactured by scii'iititlo processes l < nomi to the CAi.mmxiA Via Sviirr Co. only , iititlvo wish to impress upon all the Importance of purchasing the true anil original remedy. As the genuine Syrup of Fips is manufactured by the CAMroii.Ni.v Fin Srnup Co. inly , a knowledge of that fact will assist ono in avoiding the worthless j imitations manufactured by other par ties. The high standing of the CAM- FOU.NIA I'm Svitt'v Co. with the medi cal profession , and the satisfaction which the gcmtiuo Syrup of Tips has given tr > millions of families , makes the name of tlto Company a guaranty of the excellence of its remedy. It iu far in advance of all other lasatlvcK , ns it acts on tlio kidneys , liver and bowels without irritating or weaken ing them , and it docs not grlpo nor nauseate. In order to get its beneficial u licet s , please remember the iiumo of the Company CALIFORNIA FIG SYRUP CO. NAN I'ltAM-lNCO , fnl. Lilt'- " ' * " ' -w VOK 1C. N.Y. The L. S , GOVERNMENT wants ateonK men In Its sun ice. With ono ac cord tlio Army nnd Navy endorse HAK-IIIIN as the greatest It u o w n BlrcnRtlicuor. Invlsorat- or and restorative. It creates solid flesli. raus- clo and strength , c-leiirs tlio brain , strengthens the nerves anil causes the Ronenitt\u organs to quickly regain their nor- in.il powers. For nerv ous prostration , over work , impaired vitality In cither BOX , or cxccsilvo use of opium , llq-ior or tobacco , it p 'Sltlvely ' eiinnot bo fxcellul Ono box will work vtontlers. Six will euro. 11 AK-ltiN : Is ( or sale by nil druirilRts , (10 ( tuli- li'iM , fiu < .Tiil . Onu to two inoiiths' treatment Kill out and mail us tlio diagnosis Nlicct In cncli box , nnd wo uill ulvo your c.iso special nttcn- tloti wlthontoxtra charia. IIAU-IIIIN is prepared - pared by Hialmer O. Uonson. 1'h 1) , I ! S. , di rect trom tlio formula of U. K. Durum , M. H. Cleveland's most eminent specialist. Mailed in closed picltnco on receipt of price. UHS. UAIITON' AND lin.V.sOS. ni IJar-lloii Dloclt. Cleveland.CX For sale by Kuhn & Co. . isth iiuii DOUR. las ; J. A. Fuller & Co. , HCC DouKlus St. , nnd Graham Drug fo. , IBth and I'lirnam ; . . Pluirinnr } , 27th anil I.envenworth , Peyton's Phaiiniiey , 2Uh nnd l.eavenwnrth. li. J. Seykorn , South Omalin , and till other ( IriiKKlstB In Omaha , South Omalin , Council Ulufta. Searles & Searles. SPECIALISTS. Guiiraiilrc- i-tiri * Hicrdllj | ami radi cal ly all Mil\IS. : CIIHOMC A Nil IMUVVTIj illnciiNrn < > C nidi mill > \ < imru WEAK \ 8IJXUALI.V cured for life Nisht Emissions , I.ost Manhood , Hy- droeoli * , Verlcooole , Oonirrhen. Gleet , Hypli- illB , S'rlcture , l'llen. Klstulii and Hpctul UlcorH , Diabetes , JJrlght'H Disease cured. CO.VSIUTATIOFlir.U. . Cured by now method without pain or cutting , full on or address with stamp. Treatment by mall. DRS , SEflRlES 8 SHRIES. 'ttitttfA PURE MALT WHISKEY ALL DRUGGISTS. iff atW Tt.flW * f For Infants and Children. The Kind. You Have Always Boyghi AVegetablcPrcparationforAs- slmilating thcToodatidReguIa- liiy * HIE Stomachs andBoweis cf Promotes Digestion.Ckerful- nessandRcst.Conlalns neither Oium.Morphine norMiieral. OT NAKC OTIC. Apcrfect Remedy for Constipa tion , Sour StotMch.Diarrhoea , Worms .Convulsions Jcvcriah- QCSS and Loss OF SLEEP. TacSimllc Signature of EXACT copror WRAPPED . . THC CINT1UR COMPANY. HfW VOKK CITY. . . . 1 QMfr. * > t
