Greenfield Republican, Greenfield, Hancock County, 21 March 1895 — Page 2

THE GREENFIELD REPUBLICAN

PUBLISHED KVEKY THURSDAY. VOL. 16, No. 12 Kntered at the Postofficoa« «oood-clajss wail matter.

W. 8. MONTGOMERY, Publisher and Proprietor.

Circulation This Week, 2,

The Wilson Tariff Bill aud Its Workings

The Hancock Democrat. The figures concerning the operation of the Dew tariff are now available for the pc~t six months. They are very flatter ing to the friends of the new tariff bill. The following figures show the customs rc jeipts for the six months in question, month by month, under the new law, and during the corresponding months of the preceding year under the civ in ley law:

WILSON LAW. I M'KINLKY LAW.

Sept., 181»4 $15,"64,900 Oct. 1894 11,SM!2,11S INOV ., 1 S'.)4.... 10,2i0,6")li Dt-c., 1 SK-1 11,203,01!) Jau., lS'.ij 17.361,!)1(! Feb IS'.)") K! li'Jl

Sept.. 1303 §12,5(19,773 Oct., IS'.':! Kl,!)!)!),"ril Nov., lS'.ta 1H,21«.GS8 Dfc,lSrt3 S),15::,215 Jan., 1891 lt,-4o4,WlK Feb., 1-SU4 10,3U0,52S

Total $79,78(), 156 Total JG1,7SG.541

It wilt be seen that the customs receipts during tlie half e:i.r under the new law were grenter in every month than the old, and in the aggregate were nearly twentyfive percent, greater than those of the corresponding months of the previous year under the McKinley law. The figures showing the ex^ct quantity of dutiable and free importations ior liie half year have not been completed, but those obtainable at this time indicate that the dutiable importa ions for the first half year under the

will be lrom £'M,000,-

000 to $40,000,000 greater in value than those under the corresponding months of the last year under the McKinley law, while

THEKE IS ALSO AX INCREASE IN IMPORTATION OF NOX DUTIABLE ARTICLES

Thus it is apparent that the new law is increasing free importations, increasing dutiable importations, increasing customs rcce'pts, and will increase the internal revenue receipts when opex*ations under it assume a normal condition.

Above we publish some facts concerning the operations of the Wilson tariff bill taken from the Hancock Democrat. It says: "They are very flattering to the friends of the new bill." Let us analyze the figures a little. The figures show an increased revenue under the Wilson bill of about $15,000,000, or an increased importation of goods to the amouut of $40,000,000. That shows that that amount of goods have been manufactured in foreign (countries and wages paid out there for the same. Does that help the mechanics and working men in this country, or those in Europe? Most assuredly it does not help us. The Democrat goes on and says: "Th^re is also an increase of non dutiable articles. Thus it is apparent that the new law is increasing free importations, increasing dutiable importations," etc. Yes, that is right. The Wilson bill is inoieMSiuy importations of all kinds, and time is why the Englieh people were so outspoken in its favor—it was a good bill for them. On the other hand they denounced the McKinley till! because under it many of the goods which are now imported were made in this country by American workmen at good wages and prosperous \va3 the condition of the workingmen. Now we have lwss work and lower wages and such is bound to be the condition so long as we pass bills favorable to the importation of foreign goods into this county that could be made here. The foreign importations deprive our working people of just that much work and where you injure one class of workingmen here you injure all, as we are mutually dependent upon each other. Let us give you a plain, easy illustration: Now, suppose we could buy houses in England ready built, plastered, papered, polished, plumbed, painted, etc., and just ship them in here at a few dollars less cost than our home workmen would build the same house for, would it be the best economical or business policy to do so? There is probably not a man in this city who would be foolish enough to say it would. If we did ship them in, what work would there be here for the saw mills, planing mills, carpenters, plasterers, paper hangers, plumbers, painters and their assistants? These men all need work, and they in turn give employment and trade to other workmen and to merchants. No, we are all mu tually dedendent upon each other, and the city as well as the Nation that furnishes the most work to its own people is the most prosperous aud that was the policy of the McKinley bill.

The Democrat could have gone on and stated that while our importations under the Wilson bill had increased, our exportation had decreased, and this makes our condition still worse. Germany, France, Belgium, Spain and other countries have practically shut out our pork and beef products, and Spain has closed against our flour, thus driving the price •of wheat lower than ever. Under the

McKinley law we kept the doors of those markets pried open with our reciprocity treaties. The REPUBLICAN sees no cause for rejoicing at increasing our importations, both dutiable and non-dutiable, and decreasing our exportations. The Wilson bill has done that, and just wait -until the working men of this country get another whack at the Wilson bill. Well, last fall shows what they will do, only more so. Even Wilson lost his job. The Republican policy is to furnish the work in this country to our own people at remunerative wages, and that is the correct doctrine.

»4f All (Tree.

Those who have used Dr. King's New Discovery know its value, and those who have not, have now the opportunity to Cry it Free. Call on the advertised Drug' gtet and get a Trial Bottle, Free. Send your name and address to H. E. Bucklen Sc Co., Chicago, and get a sample box of Dr. King's New Lite, Pills Free, as a copy of Guide to Health and Household Instructor, Free. Allot which is guaran

teed

THE United States moved along magnificently and prosperously until 1873 with both silver and gold as primary money for redemption. In 1873 silver was surreptitiously demonetized aDd the single gold standard adopted. From that time until now values of all commodities have been shrinking. Restore silver to its original use and thus assist to re-es-tablish values. People are not getting enough for the products of their labor. They should not only be able to make a living, but to lay by something for a rainy day.

Slick Soap Sellers.

Two soap men, who were themselves slicker than the soap which they were selling,' struck town yesterdy. They sold you a box of soap for $1 and would bring you at an another time a fine piano lamp, a set of dishes or most anything you wanted—I don't think. A large number of people bit and now tliey are poorer by $1, but they have twelve bars of most excellent scap and enough experience to make up the difference between the actual worth of the soap and the oae dollar William.—Franklin News.

Such fellows strike Greenfield occasionally. Don't be a sucker, though, even if tfc -im sellers pre slick.

Deaths.

Myrtle A., the daughter of Josep.i R. Eakes, of Fortville, died March 9. of congestion of the stomach and heart. She was taken ill Friday night and began vomiting, which continued without cessation until morifiug, as a doctor was uuable to relieve her. She gradually grew worse and died in the afternoon. Her heart beat violently, but as the pulse was feeble, it showed clogging in the arteries, and it was impossible to improve the circulation. She was quite a popular girl with her playmates and the family have the sympathy of many friends.

The Lives Of Lincoln and Napoleon To Be Published In the "Weekly Kepublicau."

Thursday, April 4th, we will begin the publication of the "Life of Abraham Lincoln" by his law partner of twenty years, Wm. Herndon. It is full of many interesting details never before made public. At the same time we will also begin the publication of a series of monographs, giving the complete life of that wonderful "Man of Destiny," Napoleon, by this country's greatest living historian, John Clarke Ridpath. These articles will each be two columns in length and will continue until next fall. Every family in the county should have the REPUBLICAN during the continuation of these splendid histories. The children of the county should read them, it will do much for them in an educational way. Subscribe now, only 75 cents to January 1, 1896.

A Spectacle Swindle.

Many gullible people have been fooled during the past year by spectacle swindlers. They call at a farm house and profess to have found a pair o£ fine gold rimmed spectacles in some rags which they had bought at some near-by town. As it would not pay to go back and hunt up the owner, and as they had no use for the spectacles, they would sell them at a dollar, and a pair of gold rimmed spectacle for a dollar catches a man sure, if he don't think a while. The rag peddlers then work the next house on the same racket. When the purchaser comes to town he generally finds his spectacles are not gold, and only worth about fifteen cents a pair. Moral—Never buy spectacles, or in fact, very few other articles from a tramp peddler, for the changes are you will be cheated 99 times out of a hundred.

The Newspapers and Hard Times. We hear of factories closing letting some of their hauds go running at reduced wages, merchants letting a clerk go occasionally, etc., but a newspaper cannot readily cut expenses if it continues to be a good newspaper. The paper, in fact, has increased expenses when advertising is short, and even if job work is dull but little is saved in that line, as it is necessary to keep hands, material and machinery in anticipation of work. During dull times it is necessary, absolutely necessary, for all subscribers, and especially delinquent subscribers, to pay up their subscriptions.

OFATH8.

Reported by H. Rottmau, undertaker

Fannie Stutsman, wife of W. P. Stutsman, of Cumberland,, died March 13 at 8 a. m., of acute Bright's disease, aged 33 years. Services at M. E. church, Philadelphia, by Rev. Ramsey, March 14, at 2:30 p. m. i, Interment at Philadelphia e*nete

CREAM

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pure Grape Cream of Tartar Powder. Frw hwnAmmonia, Alumor other adulterant

METAL MONEY HISTORY

World's Creditors Make Unceasing War on Silver.

KILLED THE GOLDEN EGG LATER.

Demonetization of Silver Has Practically Made England a Present of $4,000,000,OOO—Business Checked and Enterprise

Kulstcd—Silver Still Stable.

Conspiracy is a hateful word. We naturally hesitate to charge such action upon honorable men, bankers and lawmakers. Nor is the matter much helped by speaking of it as a preconcerted movement, as has lately beeu so much the fashion in congress. It is not necessary, however, to charge an actual conspiracy against silver, for the whole history of the world shows that a class widely diffused, but all interested in one movement, will work as effectually to aid it as if sitting in continuous convention. What I do charge is that for over 25 years the world's creditors have worked without ceasing, and all their efforts have been in one direction that the facts, as now submitted by themselves, show results which, though they may not have been minutely planned in advance, have yet been foreseen by the shrewd ones, and while the movement has been as uniform and persistent the results have been as complete, as wrongful to debtors and as profitable to creditors as if designed by the most artful conspiracy of which man is capable. In proof of this let facts be submitted to a candid world.

War Begun Against Silver. In 1867 the world's creditors met in convention at Paris under the name of the international monetary conference. The assigned reason for this convention was that, as international commerce was rapidly increasing, the diversities of coinage were becoming a great annoyance, and the alleged design was to assimilate the coins so that they would pass from nation to nation just like tons of wheat or pounds of cotton. But no sooner did the convention get to work than a deeper design was revealed. Nineteen nations were represented, for the great exposition was in progress, the financiers of the world embraced the opportunity to see it, and the French committee on coinage had made a thorough study of the world's metallic money and invited the nations to hear its conclusion. That committee made a lengthy and minute report, the chief point of interest in this connection being that the Latin union, then consisting of France, Italy, Belgium and Switzerland, was coining freely of both metals at the ratio of 15o to 1 and could continue to do so because the world's stocks of silver and gold were almost exactly equal, and the greater value production of gold then, and for many years preceding, was certain to be absorbed in the arts. The American commissioner proposed a 25 franc gold coin (§4.82J-o), to which the American $5 piece and the English sovereign or pound sterling could by degrees be assimilated, but this was combated chiefly on the ground that it would disturb the whole decimal system of the Latin union, and our commissioner came away somewhat out of humor.

Quite suddenly, as it would seem, the ground of the discussion was shifted, and the war on silver began. The unexplained puzzle about this convention was that the Latin union, which had called it, was a bimetallic union and declared free coinage a success, and yet with only one dissenting nation, so far as can be determined, and with surprisingly little discussion, the convention resolved that international money "is attainable on the basis and condition of adopting the exclusive gold standard, leaving each state the liberty of keeping its silver standard temporarily. "Holland alone combated the proposition. All the silver standard countries present, the United States included, voted for it, and only one man in the convention blurted out the plain truth. President Mees of the Bank of the Netherlands predicted worldwide trouble and declared that "to adopt the gold standard everywhere would reduce silver to change money, and consequently gold would rise in value."

GREENFIELD REPUBLICAN, THURSDAY, MARCH 21, 1895.

Gold Standard Adopted. •.

Shrewd as they were, they made one mistake. They seem to have believed that the national debts of the world had reached their maximum and the corporate debts nearly so, and that many years of peace were to follow. Only four years later France had to agree to pay Germany the great war indemnity, amounting to nearly $1,000,000,000. It was then that the war on silver became active. Germany announced that she would seize the opportunity offered her by her receipt of that immense indemnity to destroy the varied silver coinage of all the little governments .absorbed into the empire, would start her imperial coinage on a gold basis and throw upon the market all the old silver, supposed to amount to $240,000,000. The market staggered at once, and the attempt was for the time abandoned. In 1872 it was resumed, and Denmark, Sweden and Norway declared for a gold standard without taking very active steps toward establishing it. The export price of wheat then in New York, averaged for the year, was $1.40 and of corn 69 cents. The next year the United States adopted the gold standard, but as most of those engaged in it have declared that they did not know what they were doing we are bound to accept their confession. In August a panic began in Austria, spread rapidly through Germany and was followed the next month by the great panio in the United States. Wheat declined to $1.30 and corn to 60 oents, but wool (Ohio medium, scoured) held ap to 55 and oottoo to 17.

In 1874 Holland stopped coining silver, and the Latin union restricted the AW tOfaftOOO.OOO $er aUtiUm.-'ty

ing her eld silver upon the market, and a sudden fall in the value of the metal occurred, which in the United States was then attributed to the Big Bonanza just opened in the Comstock lode. Monometallists still assert that it is the increased production of silver which has caused its decline, but the truth is simply a matter of acknowledged figures. All tho increase of those three years amounts to but a trifling per cent of that thrown out of use by the demonetizing nations, and even now tho two metals are almost exactly equal in amounts, as they were in 1871.

In 1875 Holland reluctantly gave way and demonetized silver, while Denmark, Sweden and Norway took steps to carry out their previous resolutions, and the United States adopted a law for tho resumption of specie payments on Jan. 1, 1S79. It is a singular and most suggestive fact that not one American voter in a thousand knew that this meant resumption on a gold basis that President Grant, who had signed the act of 1873, congratulated the country on the fact that resumption would bo made easy because of the increased production of silver, and that in the heated campaigns of that year the orators for resumption habitually spoke for tho two metals as a basis. Early in the year the trade dollars, coined ior the trade with China, came into use quito extensively and were eagerly t.-sken by the people without the slightest suspicion that they were not as good as gold. Nevertheless agricultural products continued to decline until three years of very short crojjs in western Europe brought grain up again. S In 1876 the Latin union limited the total silver coinage to §120,000,000. I The United States took from tho trade dollar whatever legal tender power it possessed, and the people discovered that silver had been demonetized. The next year the Latin union stopped all coinage

of silver save for small change and declared for a gold basis exclusively. In 1878 the United States began the purchase of $2,000,000 worth of silver per month and its coinage into dollars, but the secretary of the treasury discriminated against them from the start, a practice maintained to the present. There was a great bank panic in England, the famous Glasgow City and West of England banks failing, followed by a prolonged dopression in trade. The next yoar the United States resumed on a gold basis, but farm produce after a slight advance continued to decline.

Failures Follow Silver Demonetization. In 1881 tho Ar: ii( inoEopublic made a feeblo attempt at bimetallism on the ratio of 1 to 15.3, but both silver and gold were driven out by paper money, and the great inflation began there which terminated a few years later in a terrific panic. In 1884 came a trade depression, and labor crisis in France, and labor troubles in the United States, with groat strikes and some rioting.

In 1890 Roumania demonetized silver, but tho United States again began to buy under the Sherman act. In 1891 the whole paper money system of the Argentine Republic went to smash, and the grand panic there was followed immediately by the greatest failures ever known in Great Britain, and those in turn by widespread bankruptcy in Australia and financial troubles in nearly every one of the European countries. The United States was temporarily saved by the Russian famine and the failures of crops elsewhere, which once more sent wheat above a dollar and for the last time.

In 1893 Austria-Hungary resumed specie payments on tho gold basis. India made a desperate attempt to adopt the gold standard, and tho general panic reached the United States. The Sherman act was made the scapegoat, and congress repealed it. Farm produce at once resumed its downward course.

The Creditor Nation's Gain. Down to this point I have made prices in agricultural produce, as those are of most importance to us, but this is not quite fair, as the decline in other things has not been so great. I find it extremely difficult to make a satisfactory table representing the average decline. I think it perfectly safe to say that on the average of 20 great American staples, the purchasing power of gold is today at least 40 per cent greater than it was in 1873. In other words, the value of uncoined gold has changed four times as much as that of uncoined silver—a 40 per cent advance against a 10 per cent decline.

And here is, to my mind, the most extraordinary fact in the whole business—that with all tho world's creditors making unceasing war on silver for a quarter of a century and nearly all the lawmakers of tho great commercial nations doing their bidding, with every possible kind of discrimination against it and an army of talented orators and writers denouncing it as "dishonest money," it has declined in real value but one-fourth as much as gold has appreciated. It is to my mind conclusive proof that, left to natural laws only, silver is remarkably stable, and that if, as goldbugs allege, a double standard is an impossibility, then the single silver standard would be far more safe and honest, far more equitable as between debtors and creditors. But England has subjugated the world. Practically the general demonetization of silver has been the same as if the world had made her a present of $4,000,000,000, for it has added that much to the value of the $12,000,000,000 which the world owes her. It may be a melancholy satisfaction to the victims to know that present appearances indicate that the world's creditors have killed the goose which laid them the golden egg. Great as the robbery of debtors has been, it is the smallest part of the evil. The loss due to the check on business and ruin of new enterprises cannot be estimated. I have submitted but a small part of the evidence tending to show collusion among the world's oreditors. Conspiracy, as I said, is a hateful word, but in view of such enormous robbery, ruthlessly pursued through so many yesra, *b*taroW9 to believe?..

The Facts

i§j*

William H. Herndon

Study

about

Abraham Lincoln

The Martyred President

The Most Authentic and Interesting Account of

His Life and Personal Character

For 20 years Lincoln and Herndon were Partners and Confidential Friends. Their relations were intimate and no man living* is better qualified than Herndon to give a just, true and intelligent

As revealed by his Habits and his Daily Life.

NOTHING IS SUPPRESSED

Which may legitimately contribute to a true understanding of this Greatest of Americans.

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We Announce With Pride

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Lincoln's True Character