Indianapolis Journal, Indianapolis, Marion County, 13 October 1895 — Page 5

IKDlAlTAPOL'iS JOURNAL, SUNDAY, CCTOBIAl

ig:

SPEECH BY CARLISLE

THK SKCIIKTAIIY OPTIIUTRBAStny DILTSSKS SOIXD ' 3IOXKW Ilr Think the Sliver Cnue In landed, rirenuwe It lln Conned to Kicrt Influence KItlier Here or AhronJ. SEVERAL REFORMS NEEDED hi: says lxclk s am siioixd xot ism i: cii1cvlating otks, Anil thnt There Can He o Financial Ilepe In Thin Country n Long nn the rrmeiil Stem Jm Con(lnQfd. DOSTOX, Oct. 12. The meeting of the (Massachusetts Reform Club at the Vendome to-nig:n was a tremendous ovation to Secretary Carlisle, and his speech on the manors of the government under the present aJministratipn was listened to with greatest interest. The Secretary, upon Mr arrival In tha "city, was welcomed by the dinner committee of the club and escurt(dto the hotel, where a reception was tendered him by the officers of the club. Aa hour was spent In general Introduction and handshaking, and shortly .after 7 o'clock thoe present filed into the large banquet room. The guest of the evening ai on the right side of the president of the club, George S. Hale, -who presided. At the same table were Collector '.Winslosv Warren, Causlen IJrowne, Postmaster Coventry, First Assistant Secretary of the Treasury C. S. Hamlin, Hon. John E. Rusrell. Professor Charles Elliott Norton, Comrcar. It r Greene, U. S. X., General Francis A. Walker and Professor X. S. Shalr, of Harvard. At the conclusion of the banquet President Hale rapped for order. "We are Democrats Tvith Grover Cleveland," he said "and Republicans with Teddy Roosevelt. Sometimes we are Republicans with Edmund?, sometimes with Sherman and even with Greenhale. We take our property wherever we find it. But we sometimes reject bad material Mr. Hale read letters of regret from Carl Sehurz, John D. Warner, of New York, Senator Hoar, Governor Greeaalge. Lyman J. Gage, of Chicago. Chief Justice Field, and many others. Secretary Cnrlllc Addrex. The principal guest of the evening was then introduced. He was received witft three cheers lei by Causten Browne. Secretary Carlisle spoke as follows: "From the earliest times in our history the merchants, manufacturers, bankers and professional men of your city have been celebrated for the industry and ability displayed In the conduct of their business and for the honesty and fidelity w.th which they have met all their engagements. This has given them a credit in tne commercial world worth more to them in times of financial distrust than all their lands, houses and goods, because a well-established credit is always available to procure In the markets what Js needed, while property cannot always be immediately utilized. A depreciated and fluctuating currency destroys credit and thus robs the people of. one of their moat valuable means of carrying on business. The mere apprehension that our currency might be debased by the inability of the government 'to continue the policy of redeeming its obligations In jrold has already produced one of tne greatest ilnancial disturbances that ever occurred in our history and resulted in the loss of thousands of millions of dollars to our people. There were doubties other causes contributing to this result, but this was the most potent one in this country, and without U ve ihouM no: have'saffered more th? other parts of the world from the f uneral depression. What would have been .sieJconFequence if these apprehensions had proved correct, if the government had in fact been unable or unwilling to maintain the equal exchangeable value of all forms of currency in the hands of the people, no man can tell, but that they would have been mot disastrous nearly every wellinformed rnan now concedes. "Fortunately, one of the causes which contributed largely to produce a feeling of distrust and apprehension, and which very greatly intensified that feeling at all the stages of our long financial struggle, has substantially ceased to exert any influence over the mind3 of the people here or abroad. I mean the persistent and agressive agitation in favor of the free coinage "of legal-tender silver, which for a short time seriously threatened to revolutionize our monetary system and reduce our entire volume of currency to about half its present value. I do not mean to assert that there was ever a time when tiiere was real danger that this would be done, but there were times when the sentiment in its favor was so strong and so aggressive In its character that there was, at least, reasonable grounds for fear that it might be accomplished, and especially reasonable grounds for such a fear on the part of Jnvestors abroad, who could not be expected fully to understand the actual situation here: but the free coinage movement has lo?t its momentum, and is no longer formidable or aggressive. It Is on the defensive now, and when a revolutionary movement is compelled to halt and defend Itself the end is not far off. It would not be correct to say that the contest is ever, because the sentiment. in favor of the free coinage of silver is still quite strong in some parts of the country, but it is not strong enough to exert a controlling influence in the councils of either of the great political parties, and without this it can accomplish nothing in the form of legislation or In the determination of administrative policy. WILL XOT BE DEPRECIATED. "So well-informed man now believes that oar standard of value will he changed or that the financial policy which has been steadily pursued by the present administration will be abandoned, and foreign holders of our securities and foreign investors in our industrial and commercial enterprises will m.iko a great mistake if they permit themselves to be influenced Ivy the fear that our currency will be depreciated or that all our obligations will not be promptly and honestly discharged. Tha proposition that the United. States alone, shall adopt the policy of-free coinage at u ratio which would make the silver dollar intrinsically worth only about one-half as much as the gold dollar, and declare both coins full legal tender in the payment of debts, is so unreasonabe upon its face that it is difficult to understand how it could have received the support of o large a part of our people. That two full legal tender coins of the fame denomination, but of unequal intrinsic value, cannot be kept In circulation at the same time haa been so often demonstrate! by actual-experience that the question Is no longer open to serious discussion. In fact, & very few of the advocates of free coinage no.v contend that golJ and silver would continue to circulate together under their policy, but they insist that the gold standard ousht to be abandoned. even though goit corn should be banished from .the country, because, thev ay. the effect of the present system is to reduce the prices of commodities, increase the burdens of what is called the debtor class, and enrich the holders of capital in the form of money at the expense of farmers and otner producer. It must be admitted that the- are serious allegations, and if they could bo proved a strong case for relief would be male; but they have not ben anl cannot be proved. "In order to show that the aloptlon and maintenance of the gold standard of value lia of itself, reluce I the prices of comrooditicrsY it would be neccs.-ary to prove tiiat it produced a contraction of the currency, or thut it had impaired credit, which I, 'oy far, the rr.cn important factor In trade. It has done neither. We have much larger circulation In the ajfgrvKate, and much larger per capita ;han we hatP in 1ST?, when the gold standard was legally Adopted. And it is evident that the credit of the man who proposes to pay in good irvney i ahvay better than the credit of the man who proposes to pay in bad money. In order to i'huw that the adoption and maintenance of the gold Mandard has Increased the burdens of the debtors it would be necessary to prove no: only that the existing inieofevine was contracted under a different monetary system, but also that the amount of legal tender money in use, or available for use, U les now in proportion to the toal Indebtedness than it was at tha . time 1ndebtedne.s was contracted. XUrer of th?5C propositions can be estabXMhed. - "Xiie entire indebtedness of our people-

that Is, the current indebtedness contracted In the transaction of their ordinary businesshas been incurred slnco the pas?aqe of the act of 1873. adopting the gold standard of value, and certainly there is no injustice In requiring payment to be made in the kind of money recognizee by law' at the date of the contract. While we know very nearly the amount of legal-tender money in circulation, or available for use, in the country at different periods, there are no authentic statistics showing the total amount of indebtedness at any given date, and, therefore, it is not possible to make an absolutely correct comparison between the amount of such money and the amount of Indebtedness, but there Is no reason to believe that the proportion has changed to the disadvantage of the debtor. Certainly the advocates of free coinage have not proved, or, so far as I know, even attempted to prove, that such a change has occurred, and their argument upon this

smbject is. therefore, founded upon mere assertion unsupported by evidence. INTEREST IS LOWER. . "In order to show that the adoption and maintenance of the gold standard of value has enriched, or has a tendency to enrich, the holders of capital at the expense of the producers, it would be necessary to prove that money yields a larger profit to the owner under such a monetary system than it would under a different one. Idle capital makes no profit, and If the profits of the capitalist have been Increased it must be because he receives a higher rate of Interest than formerly, or because he realizes larger returns, from his Investments than formerly. Instead of this being the case, however, it is well known to every gentleman in this assemblage that the average rate of interests was never lower in this country than at the present time, and that profits upon investments have been reduced to the smallest percentage consistent with the continuance of the enterprises in which the Investments are made. While this is true, the great body of our producers, the laboring people of the country, are receiving as high wages as they ever received at any period in our history, and the money In which they are paid will purchase in the markets more of the necessaries and comforts of life than ever before. Capital and labor combined are the only real producers of wealth, and the constant tendency in this country, is to .give labor more arfd capital less out of the proceeds of their Joint products. This !s a fixed law of our industrial progress, and, unless disturbed by violence or by unwise legislation. It wiil continue to 6perate until the relations between these ' two forces are permanently adjusted upon an equitable basis. Their real interests are not conflicting, but dependent, and every attempt to array one against, the other is injurious to both. "I am sorry to say that one of the most effective weapons in the hands of our free sliver opponents has heretofore consisted of appeals to the class and sectional prejudices of the people, but these appeals appear now to have spent their force, and I think we may congratulate the country on the prospect of a more dispassionate and Intelligent discussion of the subject hereafter. But, Mr. Chairman, we must not assume that the abandonment or the defeat of the free silver movement will alone be sufficient to insure permanent financial peace in' this country. Unfortunately, as I think, the currency legislation of thb4ast thirty-three years has devolved upon the government of the United States nearly the entire responsibility for the maintenance of a sound and stable currency, and has at the same time denied to the public authorities the power to employ the ordinary and necessary means for the discharge of .the duties imposed upon them. We - have ten different forms of money, or representatives of money, in this country, .amounting In the aggregate to about $2,221,000,000. and the value of every dollar of It, except about $013,000,000 in gold coin and bulion. depends in whole or in part on the faith and credit of the United States. By the resumption, act of 1878, and under the policy expressly declared in two subsequent acts of Congress, the government is required to ke.;p this entire volume of -currency equal in exchangeable value ' to gold coin, because in no other way can the United States notes be redeemed in coin as required by law and the parity of the two metals be maintained. To compel the holder of these notes to receive silver in exchange for them when he demands gold would at once destroy the parity of the two metals, because It would make .the inferior coin the measure of their value in the hands of the people, and it would not reduce gold to the level of silver. Such a course would place the currency of the country upon a silver basis, and as the silver dollar is not worth Intrinsically as much a's the gold dollar, all further attempts to maintain their parity would be .unavailing. , , ... i QUESTION. OF PARITY: "Parity between two coins of unequal In- ! trinsic value can be maintained in only one way, and that is to adopt the more valuable one as the standard, and by the credit and resources of the government keep the less valuable one equal to it in purchasing power. If the less. valuable coin is adopted as the standard, or is permitted to become the stndard, the parity 13 destroyed, because the more valuable one cannot be brought down to its level, either here or in the markets of the world. The irovernment F of the United States is therefore bound to redeem its notes in gold when gold is demanded, or fall to meet the responsibility imposed upon it by the law and by the existing state of our currency; and it must continue to do this as 'long as it has any notes - outstanding. 'In order to carry out this policy it must have constantly on hand a sufficient amount of gold to Inspire the public-with confidence in its ability to redeem its obligations when presented, and this gold, under the conditions which have existed during the last three years, can be promptly procured only by the sale of interest-bearing bonds. "One, of the most important questions the people have now to consider is whether they can afford to adhere longer to a. system, which, periodically augments the public debt for the purpose of securing gold to bo exchanged for notes, which, when redeemed, are not retired and canceled, but are reissued and put in circulation to le over and over again presented for redemption ikt far as the merits of this single question are affected, it is immaterial whether our standard of value is to.be gold;.or silver, because the coin for redemption . purposes, whether it be gold coin or silver coin, must be provided by the government, and it can be purchased only, by the -sale of bonds. The free coinage of silver on account of and for the benefit '"of the owner of the bullion does not, therefore, enter into the discussion of this particular question. Such a policy would not give the government any silver except what it would receive in the ordinary way as a part of its revenues: it 'would provide.no fund for redemption purposes UTtes- we should have a surplus revenue. " Whether we continue to maintain the gold standard of value or debase our- currency to the silver standard, the obligation, of; the government to redeem its notes In coin on presentation will remain, and, consequently, the question whether the notes when redeemed shall be retired and canceled, or reissued, is one which cannot be avoided or settled by a change in our coinage laws. It must be settled by legislation in another direction, and the, advocates of free coinage of silver at -the rajlo of 16 to 1, or at any other ratio, are as much interested in its correct solution as the opponent of that policy. ' FIRST GREAT MISTAKE. . ,The first great mistake in our currency legislation was made in the act of March 17, 1S82, which authorized the Secretary of the Treasury to issue United States notes to the amount of ,$130,000,000, and made them legal tender'' in the payment of all debts, public and private, except duties on imports and interest on the public debt. Following this, 'other acts were passed under which .additional notes of the same character were-issued, until the whole amount of depreciated legal tender paper reached tf2.00u.Oi0. This was a radical and dangerous departure from true financial principles, if not a serious Infraction of the Constitution of the-Unlted States. This depreciated paper, of course, expelled specie from circulation, bur as the government had not promised to redeem it at any particular time, it subjected the Treasury Department to no serious responsibility or inconvenience. " That department, for the first time in our history, was invested with authority to issue notes to circulate as money, but for the time b?nz it was exempt from all responsibility of their redemption. "But since he pasage of the itct of .May 31, 1S7S, and the resumption of specie payments on the first day of January, 1S79. the situation has entirely changed, and the Treasury Department is now not merely an agency for the issue of circulating notes, but is required to provide for their redemption in coin, and to reissue them .when redeemed. Under the silver purchasing act of July, 11. additional treasury notes were issued to the amount of tsr,931.602, of - which - $142,000,000 are still outstanding. These notes, when redeemed, must be also reissued, or standard silver dollars must be substituted for them. Since Jan. 1, 1S73, old United States notes amounting to 1),ooo.OOi) have been redeemed In gold on demand of the holders, and yet every dollar of these notes is still outstand!ng, having been reissued.' as expressly required by law. Since July 14, 1SU. treasury notes issued for the purchase of silver bullion have been redeemed in gold to the amount of more that JTTTCOO.OOO. and all these notes are still in existence, uncanceled. It thus appears that the covernment has redeemed

notes In gold to the amount of $rJSS.000,00n, and that the notes so redeemed are still outstanding and may be presented for redemption over and over again as long as our. legislation remains in its present condition. - "Under such a system of redemption and compulsory reissue the difficulty of maintaining permanently an adequate coin reserve would be. .very great, even if thev Treasury Department were properly organized and equipped for the transaction of a banking business, but the difficulty is greatly augmented by the fact that the authority of the Secretary of the treasury is so limited by law that he is not permitted to resort to any of the means usually adopted by financial Institutions in cases of emergency. Gold can be procured only by sales of bonds or by voluntary exchanges of gold coin for other forms of currency .by the banks, and it is scarcely necessary to say that those voluntary exchanges are most difficult to make at the very times when gold is most needed. When bonds are soli in our own market experience has shown that a large part of the gnld to pay for them is taken from the treasury reserve in the first instance, or withdrawn in a short time after the bonds have been paid and delivered. UNLIKE A BANK. "A regular banking institution can easily provide a proper reserve anl can easily replenish it when reduced, because it'ean stop discounts or call In its outstanding loans, if necessary, or borrow for short periods, but the Treasury Department can do none of these things. It' was not established, or organized for any such purpose and is unfitted for the discharge of such duties. It ought not to be required to provide and hold a reserve for the redemption of circulating notes, or if it is required to do so, the notes ought to be retired and canceled when redeemed;-or, in other words, the debt, .when paid, ought to be extinguished. The government of the United States ought not to be engaged in the business of issuing notes to circulate as money; it is not a proper function of that government, and the sooner this truth is realized by the people the better It will be for the country. Of course, as long as the government continues to issue circulating notes a reserve must be kept and the notes must be properly redeemed on presentation, and nothing . I have said must be construed as an intimation even that the reserve ought to be abandoned or impaired while the present system is maintained. My contention is that-the notes ought not to be kept outstanding, but should be retired and canceled as sDeedily as the sound and safe

currency can be provided to take their places. There can be no nnanciai respose in this country as long as these notes continue a part of our currency, because the fact that they exist compels tne government to nrovide a larse gold reserve which. in the very nature of things, cannot be permanently maintained by any fixed amount: and whenever it begins to cumin ish distrust and apprehension arise in the -public mind, values are unsettled, business Is disturbed, and more or less loss is en tailed-upon the people. The losses already sustained on this account are almost beyond computation, and there is no gooa reason to believe that the country can escare further iniurv in the future if the po Icy of the government is unchanged in this respect. The fact that the soundness of our currency depends or is supposed io uepend, upon the maintenance of a certain fixed reserve in the treasury keeps the busi ness of the country in an almost constant state of agitation ' and alarm, and is from every point of view detrimental to the interests or the people. "I will not take time this evening to discuss the various plans that have been suggested for the retirement and cancellation of the old United States notes and the treasury notes, my only purpose now being to assist in directing public attention to the subject and to express the decided opinion that this element of weakness must be eliminated from our system before we can have any positive assurance of permanent safety. After the, experience of the last three years it seems almost incredible that a proposition to retire these notes should encounter opposition, though, there is, of course, room for wide difference of opinion as to the manner in which it shall bo accomplished and as to the character of the currency that shall be substituted for them. It is sometimes said that although these notes constitute a part of the public debt they bear no interest and are therefore the cheapest form of currency that can be provided for the use of the people, but a verv hrief statement of , the facts, will be sufficient to show how erroneous this conclusion is and that the United States note is the most expensive form of currency that the people can have. WHERE THE MONEY GOES. "In order to procure and maintain a fund for the prompt redemption of the notes on presentation, It has been necessary to issue interest-bearing bonds to the amount of 57,013,100. Of these bonds, which were issued at various dates, $C5,000,000 bore interest at the rate of 4V Per cent., 2,903,,m bear interest at the rate of 4 per cent., and $100,000,000 bear Interest at the rate of 5 per cent. - The paid and unpaid bonded indebtedness incurred, on account of the United States notes was as follows on the first day of the present month: Bonds $237,913,400 Interest 73,000,000 Total - $310,915,400 . "But, in addition to this, the $?1.1,6S1,000 of the United States notes are still outstanding, and msut be paid at some time, so that the total indebtedness, paid and unpaid, on account of this so-called cheap form of currency, was actually as follows on the first day of the present month: Bonds $237,915,100 Interest 73,000,000 Outstanding notes 345,081,000 Total : $677.51)6.400 "Now, if 'the whole volume of outstanding notes had been funded at 4 per cent, on the first day of January, 1879. the date'of redemption, the total Indebtedness on that acount paid and unpaid, would hive been as follows on the first day of the preacntt month: Bonds $346,1581.000 Interest 232.276,000 Total $57S,937,000 "This is $39.633, 400 less than the liability which the government has actually teen compelled - to Incur in order to keep this form of currency outstanding and maintain Us value; and no one can say th-at a very large additional Indebtedness .will not have to be contracted in the future for the same purpose. "The responsibility Is upon the people and their representatives in Congress to determine whether the public debt shall be increased from time to time in order to redeem and reissue th'.3 paper, which, to say the least. Is of doubiful constitutionality, and is no more convenient for use than other forms of currency. The executive authorities must obey the laws as they .stand, whether they be good or bad, but all the powers conferred upon them by the statutes will be faithfully and fearlessly exercised whenever necessary for the preservation of the public credit and the maintenance of a sound and stable currency for the use of the people In the transaction of their business. If our financial and curency system Is such that these results' cannot be aoompllshed without increasing the public debt, let -the system be changed, but. It is scarcely fair to impose unpleasant duties upon us and then criticise us for discharging them In the only way they can be discharged. "There is more than 'one way in which an adequate and safe "currency .can be secured for the use of the people, without perverting the power of the government, or subjecting its credit to the vicissitudes of either legitimate trade or reckless speculation, and I most sincerely hope the subject will receive the careful consideration of all who feel an interest in the adoption of a" sound policy, and that a plan may be formulated which will meet the approval of Congress. In the meantime the povernment will continue to redeem its obligations promptly on presentation according to the requirements of the existing laws and public policy. Those who want go'.d will get it. and those who want silver will get It. The parity of the two metals will be maintained, and the whole volume of our currency, paper and coin alike, will be kept equal to the highest'standard recognized by the commercial nations of the world." Collector Warren, Mr. Charles Jackson and Hon. John E. Rus?ell also spoke. Mr. Russell's remarks proved to be one of the most interesting speeches of tne evening. He, said, among other things, that at the close of the Harrison administration Secretary Charles Foster was particularlv free in h!s conversation with Mr. Carlisle and Mr. Cleveland, and explained to them the condition ot the treasury at the time, lie knew of the desperate condition of the nation's finances at that time, and If he did not actually say to the incoming administration that a bond issue would be necessary, he gave them to understand as much. But President Harrison absolutely refused to have the bends issued, preferring to leave the treasury in a straitened condition rather than have it said that it was a debt making nation rather than a debt paying one. NOT A SOURCE OF DA.NtJER. Ex-Governor Bontvrell on the A. V. A In Mnwsne!.nctl. BOSTON, OA 11 The political dinners of the. year were inaugurated this afr.er-

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3,471 Cured Patients Say "Tobacco Habit Is a Disease." - 6,000 Persons Now Using Oxygen Tobacco Cure Say "We Want to be Cured." All Who Have Tried Oxygen Tobacco Cure Say It Will Cure the Tobacco Di&ease. Two weeks have passed since the free samples of Oxygen Tobacco Cure, were piven out from the office of the Indianapolis Sentinel, and still the reports of its wonderful power to cure the tobacco habit and all its diseases, are coming In. To-Uay there are thousands of citizens of Indiana who were slaves to tobacco who are nw free men. And In most enthusiastic terms they give all the praise to Oxygen Tobacco Cure. They eat better, sleep better and work better than when using tobacco One young man who Is employed on one of the leading daily papers says: "I have quit using tobacco and am entirely cured of the appetite. I do .not .want it any more than if I had never used it, and I know I am worth more in my position than when I used tobacco." , . A gentleman identified with Indiana's splendid system of -Building and Loan Associations says: "Since-1 have quit abusing myself with tobacco I eat better, sleep better and can do double the work I did before. Two boxes- of Oxygen Tobacco Cure cured me." : . More testimonials like the. above could be given than this column would hold, and from among all who have reported not one failure has been found. These results place 'Oxygen Tobacco Cure high up among the great successes of the age and leave nothing to be desired to make it a 'perfect' cure for the diseases it is prepared to cure. - - The question is, do you want to be cured of the disease? If so, Oxygen TObaccoCure is what you want. It is no experiment, but a thoroughly tried and proven remedy. Out of the thousands who have tested it in this city not a single failure has been reported. Oxygen Tobacco Cure is guaranteed by the manufacturer to cure you and will return your money if It -does not. Three large boxes are warranted to cure you. No matter in what form tobacco was used, .whether chervved.or smoXed in pipe, cigar or cigarette prf.snuffed. Oxygen Tobacco Cure will entirely cure the habit and its effects. Oxygen Tobacco Cure is for sale by all druggists at 25c, COc and $1. Persons desiring to consult Dr. Coblentz's representatives are requested to call on or address them at Hotel English. N. B. All persons desiring information as to the cure of morphine, opium or whisky habits should address J. W. COBLENTZ, M. D., ''Fort WTayne, Ind. noon by the Middlesex Club at Young's, and nearly a hundred prominent Republicans were present. Disappointment was expressed at the absence of Senator Hoar, who was to bo the. .ohief speaker of, the afternoon, but who, was detained by illness. Ex-Governor Brackett presided, and among those who spoke were ex-Governor Boutwell. ex-Collector of the Port of Boston A. M. Beard, and Representative Samuel W. McCall. Mr. Boutwell said regarding the A. P. A.: - "We are asked by our Democratic party friends to make some definite statement regarding a certain secret organization in this State. I think it is always well never to accept the advice of enemies, as it is alwavs open to suspicion. This organization has not disturbed the public peace; it has favored the public school system; it is a friend of the government institutions under which we live and the Institutions which are among us. If they were assailed wo should defend them. ; We do not, therefore, seo that the existence -of this organizationis necessary, for we do not believe that our public institutions are in danger." CHANDLER FOR JJIMETALLISJf. The HrrnUc Senator Writes n Letter Thnt Will llene SUverlten. DENVER, Col., Oct,,'l2.In a letter to T. C. Clayton, secretary' of the Republican State league of Colorado, urging Republicans of this State to stand firmly with the national organization, Senator Chandler, .of New Hampshre.!'says: "The Republican party will go into the next presidential battle pledged to bimetallism, which, I believe, as sure as right is right, will win. On the .other hand, the Democratic leaders the men who dominate and control its national influence, patronage and organization, are monbraetallists. President Cleveland and his administration are absolutely in the hands' of Mr. J. Pierpont Morgan and his syndicate of foreign bankers; they are against siver as a money, and they are committed to gold monometallism. With the patronage of the government, with money manipulated by William C. Whitney and Calvin. S, Urice, the Democracy are hopelessly, subjugated and their next national convention will be a hostile to princples of bimetallism as are the English creditors who propose to exact the pound of Mesh from their debtors In all parts of the world. It is the height of lolly for any bimetallLst ,to conceive that anything but gold monometallism can'come from another Democratic national victory. We bimetallists outnumber the gold monometalllsts of the world, 100 to 3. and need not fear that we shall hot eventually succeed. .,, "With a practical suggestion I close. A bimetallic conference held in the United States would be attended by representatives from all Western' hemisphere governments and from the governments of Russia. France. Japan and China. Bimetallic organizations in Canada. India and every other country will send delegates. The decision of the conference that nations should coin silver without limit at the ratio of l.'ii to 1 wjll be irresistible even by England and Germany. Our Congress should call one at once and provide for paying its expenses." . , ... Snlelile? of n Tenncsscnn. KXOXVILLE. Tenn... Oct. K. Burns, a prominent clothier and extensive capitalist of this city, aged forty-five, committed suicide at an early hour this morning by shootnlg himself In the head. The cause assigned for. the act is bad health and business troubles. - Cuticura Soap purifies and beauti fies the skin, scalp, and hair by restoring to healthy activity the CLOGGED, Inflamed, Irrita'ted, Sluggish, or Overworked Pores. . I Anicn thrmti tv aU te rrr; -1 .. T!nu-h dpoti ; Y. N'lvmr n ov. i. Hi; Krttr'-u, 1- n. PbiTXS

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house in Indiana. A large line of natty Caps, Tarn O'Shanters, etc., for the little ones. v

MO

Economy in Shoes. From Our Factory To Your Feet Direct. o "3 s a U c a u s 0 0 i3 rs a a '$ Si V 0 0 w 5 Tj ft o m 0 i 0 a o mi o M V st 2 2 H s v C3 o B V 2 0 - o z o c 7. c J. kLORSHElM'S, N. W. Cor. Wash, and Penn. f Dust Off 3 JT-JLUUl IBear takes more than a small assembling factory or repair shop outfit for the construction of hiffh-grade bicycle?. Yt any little plant In the country can buIU bicycles from a miscellaneous VA of parts of questionable quality. There is no fruess work about Waverley parts. We make them, every one. In our own plant, and thej are of a very much higher Rra-le than anything that can be bought cf part makers, no matter what you pay. Our guaranty covers every part, and each one is of the highest possible quality. Buy a Waverley if you want the very best. Trice. $S.". INDIANA BICYCLE COMPANY. Corner Pennsylvania and Ohio street. A national Reputation. 45 Years Standing. BirVAN? L STRATH VS Lh)coi::sod i:.:jc:.oj7 V "When DuliaiE, remo-IHfxi. Magnificent Quarter. Largf, immanent rnlty. TUitt ieui?a iaOutrl tt&ts. .C"i mlfuts c-ni.al!v. nw hiDaUfiitrin daily. Vl.'.rcrj Uiy.-1. j;!?Tt?or t r Vzj z-! Mailt Sij:L J, lilir.:?. 11v;ri:::r.-.

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Motto That Has

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THAT WILL PLEASE THE AlULTluDE

Our Boys' Dept. Isthebusiestspotin the city. Our efforts to please seem to have struck the heart of every parent in Indiana. Have you seen the nobby all-Wool School Suits we offer the boys at No parent can afford to purchase until they have seen the Model's "NEVER RIP SUITS" This week derwear at $4 in any hat

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MONDAY, ONLY. The great success of the past two Monda3- Sales has induced us to have another sale to-morrow, when 3-0 u can walk into our store and hat 3-ourself with the latest and best st3'les in a stiff or soft hat for.

Remember this sale is for Monday only, and if 3'ou want to bu- a hat it will pa3 you to come and sec us Monday.

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WROUGHT-IRON PIPE Steam, Qc3 and Water "Q Gccds.. t:at3 Fcz;3, Oil :;;!ia 02

THE. -SUNDAY JOURNAL. Dy Hail, to Any Ac!c!rccsf

erate

TTJ o race: Made of America. Men's Suits K to inspect our lines V)f Men's k Suits at k A There is. a nattv finisih K aDout tnese suits mat is seK WA dom seen even in the high-Vj ters not, your ideas as to cut and color. We have them all and a few more. Can't help but please you. 4 0 A 0 0

V

Uederwear Dept.

50 dozen Ribbed Wool Un- $ V 0 0 69c

a garment that sells everywhere at $1. A See our 15 lines of Underwear at SI A natural Wool, Glastenbury, Camel's a Hair, Merino, Balbriggan, etc., etc. a

r A o o OOOO o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o c o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o 9 and BOILER TUBES Fitters' Tools, Hose Goodc r 1. C C4 West Maryland Street . - k - . L J . . .