Marshall County Independent, Volume 2, Number 3, Plymouth, Marshall County, 8 November 1895 — Page 9

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A PLAIN SILVER ARGUMENT. The silver dollar of 1ST.! or the gold dollar of IM:;, which is friend to the laborer and fanner? Much has been said about the dishonest dollar. Many of our statesmen In the Northeast who hold the same views as the capitalist of England are In favor of au honest dollar for the working man. They are much alarmed over the pro wins sentiment in the South and West that favors bi-metallism. They think it would be an outrage on the working man to give him a silver dollar whose bullion value is only 50 cents. The monometallic says. "Let the Govcrnmcnt put a dollar's worth of silver in the silver dollar. We want honest money." This single statement is the greatest obstacle in the way of the free coinage of silver. The laboring man ?ays, "That is fair: I am in favor of free coinage: but I want a dollar's worth of silver put into the dollar." This statement tha't the dollar must Lave a dollar's worth of silver in it appeal's to be fair and honest when we first read it. lint a little reflection will show it to be full of fraud and deception. Within the last four years I have talked to not less than I'M) different men on the subject of free coinage, and nine out of ten wanted silver as monev: but wanted the dollar to con tain a dollar's worth of silver. Six i joars'ago I took up the study of finance so I might vote intelligently on that .subject. I soon became a bi-metallist. In order to know the strong points which the monometallist presents I read several books on that side and found that they all suggested that the silver dollar should contain a dollar's worth of silver. Now. if you believe in the free coinage of gold and silver at J

the ratio of Hi to 1 you must believe j i,.,siKd,s. what does this mean? The that 4 ll! grains of silver conies as near j figures on the paper in the mortgage making an honest dollar as 1'5 8-1) ; ri..,,i $1,000 principal and rate of intergrains of gold. I believe that. Then I ost j j,or r,M1t. Is your debt any larger believe that I must answer the ques- j thnt Y:iCn von contracted it? Could

tion why should we not put 8J5 grains of silver into the silver dollar. The statement that the silver dollar should contain a dollar's worth of silver -suggested these questions to me: Why is it that 'S, S-lo grains of gold Is worth just 81, no more nor no less? Why is it that '27, 8-10 grains of gold alwavs make an honest dollar? Can the gold men prove their assertion that j "J5 8-10 grains of gold is always an lion- 1 est dollar, and that 4l-:. grains of sil- j ver makes .1 dishonest dollar? These questions suggested the following questions to mo: What is money? What is i its function? Answer to the first ques- j lion: Money is an instrument created 1 by iaw to represent property, goods or j labor in a condensed form. Answer to the second: The function of money is to assist people and nations in the oxchange of values. I wish t emphasize j this statement that the exchange Tunc- : r tu ,,niv oiw. th.it on--coins us. There is not 81 in Sl.ttoo.mo that Is earned for the material of which

it is made. They are earned simply to win purenase one uuu one-nan nines exchange for something else. The next I as much as it would in 1S73. The dolqucsthm that presents itself is this: j lar has appreciated 50 per cent. It will What is honest money, or in other j take l.öoo bushels of wheat at (10 12 :i words an honest doIiarVAbove we have j cents per bushel to pay the mortgage, stated that money represents property, 1 Now. could you not pay a mortgage of goods or labor. j 81."oo and interest at YA: per cent, viifji honest monev must always reo- i with wheat at 1 a bushel just as easy

- . rose 11 1 the fame amount of property, gocds or labor. An honest dollar represents the same iinount of human effort yeai after year during any period of j time. Now we are ready to show why bJ5 grains tu silver should not be put into tiio silver dollar. In order to do tins we will use the following illustration. We will take the side of the room in which you are sitting. Let the wall l-e fifty feet long. Let this wall represent the trade population and wealth of the world. Over this wall we will place an clastic tape just fifty feet long and divided into fifty parts.Vich representing a foot. Let this tape line represent the world's entire stock of money. Let this ;llutra;ioii represent the business, wealth ai:d population in 1S7." when silver vas demonetized. If there ever was such a thing as lionet dollars we will let them be honest just before silver was demonetized in 1S7."J. They were not far from being hont'S t. for the common people wore prosperous. We will add five feet to the length of this wall each year to represent the increase in business and population. Now. the tape line stretches the whole length of the wall, which is now fiftylive feet. Is it tt evident that five feet must be added to the line before it will measure honest feet, or in other words, honest money? lie fore 187." gold and silver were coined at the ratio of If. to 1 and put into the line. This increase was just about right to keep pace wili the trade and population and meet the world's demand for money. The world's stock of gold and silver is about four billions of each metal. This shows that one-half of this increase to the line or addition to the money in circulation must be made of silver. When the world demonetized silver, gold was the only metal left to go into the line. The gold was able to fill up inly two and one-half feet each year. Business demanded live feet in order to kejp the dollar honest, or so they would measure the same amount of farm product each year. Right here money is not added fast enough to our circulation, and the dollar begins to appreciate in value. At the end of the year 1874 the wall is fifty-live and onehalf feet. lint money and the lino are elastic and must stretch over the whole distance. In 1873 the wall Is sixty foot

long and the line fifty-live feet, and yo the dollar goes on appreciating in value. In 1875 the line says that there are ffnly fifty-five feet in the wall when there are sixty true feet. Now, let us apply this to wheat or corn or anything

the farmer has to sell. Let wheat be worth a dollar a bushel in 1S7.".. Then, fifty bushels, when measured under the line, will bring $50. In 1S71. fifty-live bushels tinder the lino measures $5:2.50; in 1875, sixty bushels under the line only measures $55. You see, in the space of two years the dollar has appreciated so that $55 buys the same amount that $00 would in 1S7". Let us take a period of ten years, from 1S7JJ to ISN", and see how it affects tis who were selling hogs, corn or wheat to pay oft' a $1.0iW mortgage at 0 per cent, on eighty acres of laud. In ten years we add ten sections of five feet each to the wall, which makes the wall UM feet long. We add ten sections of 1 feet -ach to the tape line, which makes It seventy-Jive feet long. The line says there are but seventy-five, feet in the wall when there are Km true feet in the wall. This shows that one of the units in the line measures one and onethird units in the wall, or it means that $1 in Ivc; buys one and one-third time as much as it did in 187". Now, KM bushels of wheat when measured undor the line will bring i?7.. Tins is 75 cents a bushel, or a decline of 25 per cent, on wheat. Now, this is a decline of 1'5 per cent, on a bushel of wheat, or a rise of ."U, 'A per cent, on the dollar. You see, when you sell the dollar for wheat that it buys one and one-third bushels, which is a gain of .'.". 1-.'; per ent over 187.", when it bought a bushel. Let us see how much it will take to pay cff the mortgage. It will take I..""-" 1". ,U)t mortgage of U and interest at 12 per cent, with wheat at a dollar a bushel just as easy as you can Sl.Ooo with wheat at 75 cents a bushel? You see, your debts have been increased, not by raising the figures on the mortgage, but by contracting the currency and depreciating the products of labor. Let us take a period of ten years more from 188.", to 180".. and see how it afi'eits agriculture. This adds fifty feet more to the wail, which makes the wall 1ÖO feet and ten times two and one half feet, which makes the line 100 feet long. Now, the line says there are loo feet in the wall, when there are 150 feet 150 bushels of wheat measured under the line brings only $lni. This shows the bushel to be worth 00 i'-." cents, which is a decline of ."." 1" per .... 41. ..... ..ln... Inl.Ao .liinim ll" i""l,s "l '4"v'1 the last twenty years, or since silver was demonetized. While on the other hand, the dollar Ml 1... - . . 1 t. ..-. as you can the $l.ooo mortgage at '.) per cent interest with wheat at 00 I'-" cents a bushel? Contracting the currency is an indirect way of increasing the debts of the laborer Now. if wo double the number of units in the lino wo double the nice of those in the wall, or doubling the volume ef money doubles tin? price of commodities. Take out one-half of the feet in the line or onc-hajf the money in circulation and you take away onehalf the value of products, or lower them ,"0 per cent. Dividing the money In circulation doubles the debts of the debtor. Doubling the money in circulation divides the debt. Why gold is high and silver low compared to twenty years ago is because gold is in the lino and silver in the wall. The gold dollar Is not honest, because it does not answer the description of an honest dollar. Two ounces of gold in 181)." will buy as much as three In 187IJ. You would not submit to have your corn or wheat measured in a measure that held one and one-third bushels and give you credit for a bushel, neither is it right to measure, silver with the gold dollar and put N'J5 grains of silver into the dollar. The 412'. grains of silver will buy as much commodities now as it would in lS7o, when it was worth $1 and 4 mills. It comes nearer answering the description of an honest dollar than thgold dollar, because it has commanded about the same of human effort during all these years. Wo have just as good a right to demand that .18 7-10 grains of gold In put Into the gold dollar as they have to demand SU." grains in the silver dollar. The difference biVwoen the gold dollar and the bullion value of the silver dollar is the distance between the gold dollar and justice. The general price of all commodities has declined ier cent, during the last twenty years. Measuring the farmers' products with this dishonest gold dollar has ornamented the West with mortgages, the East with peaces. The gold standard men tell us that the silver miners are the only ones that will be benefitted by the free coinage of silver. For the last fifteen years they have blinded the eyes of the masses with this statement, while, with unscrupulous

hands, they have- filched billions of dollars from the laboring poor. Now we,

well see how they do It. In 1800 the products of labor in the United States amounted to $13.(XX),000.- i 000. The silver product for that year amounted to f?oO.(.n mVo0. which is only five-thirteenths of 1 per cent, of the entire product. It is less than the potato crop, and only one-eighth of the hay crop, or one-sixth of the wheat crop. We will be obliged to put it into the wall before you can realize how small the silver product is. Let the wall, which is ir,o fcot long, represent the products of labor for the year 18f0. One per cent, of 1ÖO feet equals eighteen inches. I Tvo-thirtoenths of eighteen inches is nearly seven inches. Seven inches of the wall represents the silver product and 1 !: feet and live inches of the wall represents the other products of labor. Now. you must remember that this wall is measured by that appreciated dollar, and you only irot credit for loo feet. So you and the silver miner give the goldbugs and their

Fnglish cousins fifty feet of the wall, j foremosf policy. Some of the latest reThe silver miner loses one-third of ports from London cause comment and seven inches, or two and one-third criticism among officials in Washington.

inches, while the farmer and laborer lose forty-nine feet, nine and tWv-thirds inches. Now. what does this mean? It shows that farmers and laborers in IS'.KI lost forty-nine feet, nine and twothirds incites of the wall, or 8t".17ö.ino.000 in their products in order to prevent the silver miner from getting crecV-t lor two and one-third inches more in the wall, or sjr.( : h .' m on his product. Do you wonder at the rank growth of trusts and monopolies in such fertile soil? Is it strange that in the land of liberty and equal rights ".."..om men ( own over one-half the wealth of Sol.- 1 OOo.tMfO.f kmi. or that N.000 families own over !." per cent, of the wealth, or .SfAjoo.ooo.m? Kvery year the burdens weigh heavier upon the laboring class. The renter pays more for his land and receives less for his crop. tJold does! not furnish monev enough. More money ( is what wo need. More money is what the West is going to have and that money will be silver money. T. N. Dyer, in Maysville 1M0.1 KopublieauFilo;. IIov IJclt Are I'iia!!c. When in any country there is more than one kind of money which is a legal j tender in the payment of debts, the j debtor may elect which kind of money 1 he will pay in. If the creditor had ; the choice there would be no need of legal tender. When the public debt was refunded, the new bonds were made by iaw payable in "coin of the standard value of 1S7L'." and this provision is printed on the face of the bonds. The Government, therefore, has the option to pay the bonds in either gold or silver coin. It Is sometimes cla'med that the creditor has the right to choose whether he will take gold or silver; but this i not so. The option is with the Government. There is no debt of the Government of any kind not legally and equitably ayablc in coin of cither metal. This svitement does not apply to gold or silver certificates for which the treasury merely holds the goht or silver in trust for the depositor. Prior to 1S7." every obligation of every description was payable in either silver or gold coin, at the option of the debtor. These two metals were universal solvents in which all obligations could be liquidated. No obligation could b. made stipulating value that could not be discharged in coins of either metal. If the creditor was left to choose the kind of money ho would take in payment of debts, legal tender, as already stated, would be of no effect, and there would be but one kind of money ami that the dearest. Recently, and since gold has been tending upward, there has been a tendency to make contracts payable specifically in gold. But States have the right, under the constitution, to mak.gold and silver coins legal tender for everything, and States may find it necessary to provide that all debts shall bo dischargeable In coin or paper made legal tender by the Government, stipu lations in contracts to the eonmvry notwithstanding. IPo.sition of Knclntid. On Feb. JS, ISirj. Mr. Gladstone spoko as follows to the British House of Commons: "Bugland is the great creditor of the countries of the world; of that there can be no doubt whatever; and it is increasingly the groat creditor of the countries of the world. I suppose thoiv is not a year which passes over our heads which does not largely add to the mass of British investments aboad. I am almost afraid to estimate the total amount of the property which the United Kingdom holds beyond the limits of the United Kingdom; but of thin 1 nm well convinced -that It is not to be estimated by tens or hundreds of millions. One thousand millions probably would be an cMronu ly low and inadequate estimate. Two thousand millions, or something even more iha; that, is very Ijkely to bo nearer the mark. I think, under these circumstances, it Is rather a serious matter to ask this country, whether wo are going to perform this supreme act of selfKicrilico." The "supreme act of self-sacrifice" which Mr. Gladstone was discussing was the proposal that England should even consent to discuss the question of admitting silver to free coinage wMi gold in an international conference. England has no idea of going Into an international agreement favorable to silver. Her goal is gold, and gold. Is England's only desire. The Chronicles of Froissart abound with accounts of the massacres perpetrated by tho most notable knights of that chivalric a-ge. They thought it no barm to burn churches, destroy religious buildings, and plunder and butcher a peaceable nnd inoffensive population,

pjn lim ryn A TI" TTV TT ? rlUlll UH J JJiJUiMY.

LOOKS AS THOUGH BRITAIN COULDN'T NOW DACK DOWN. Iteview of the Uritisli-Venez;tel.m Situation Venezuela 19 Keady to Bring; the Thins to a Head aa Soon as Our Congress Is in Session. J. Rull and Uncle Sain. Great Britain's radical Fteps toward Venezuela continue to excite the liveliest Interest in official and diplomatic circles. President Crespo, who has been ahsont from the capital on a vacation, has started back, for the purpose, it is believed, of filling the four vacancies in his Cabinet which occurred recently. One of those new officers is the Minister o Foreign Affairs. There .is no doubt entertained In Washington that Crespo's now Minister will share the views of his predecessors, as no Ministry or administration could survive in Venezuela which did not make resistance to Ilritish aggression its v 1 '"' , "V 1111 . , " , bassador Bayard the declaration that the

THOMAS FRANCIS BAYARD.

The American Ambassador in London Upon Whom Devolves the Duty of Defending the Monroe Doctrine.

Uruan incident is independent of the boundary question, and that the United States can take no part in the former incident. It i? pointed out tliat the two questions are inseparably connected. The Uruan incident is based on a claim that the Venezuelans arrested Sergeant Behrens ef the Itritish constabulary on British soil, and that this indignity must be repaired. The Venezuelans claim that it occurred en Vencviolan soil. A Washington correspondent thinks that if the newspapers and the wiseacres i.oui) sAi.isnruv. have "got it right" the question of what the Monroe doctrine means is approaching a solution pretty rapidly for a subject in the hands of diplomats. That is, it looks like it would not be a great while before it is known whether the present Interpretation by the American editor und Washington correspondent "goes." From what can be learned it looks as though John Bull is gmg right ahead with the settlement of the Venezuelan question in his own way without intending to trouble Uncle Sam for either advice or dictation. The trouble between the two Governments is that they don't interpret that doctrine the same way at least that is how it looks from the alleged information at hand. The British claim Oiat the favor the doctrine, but they don't dt tine it quite as broadly as it is alleged the Cabinet here does. There is where the trouble comes in. And if the statements of the press as to the position of the United States and the doings of Great Britain are correct one of three things must occur England must back water, or the United States must, or there will be war. That is the straight view of the case as it is presented. The American administration is declared to have taken the view that the United States must, according to the Monroe doctrine, interfere in the Venezuelan boundary dispute, because Great Britain's claim'is a violation of that doctrine. Transgressions of the Monroe doctrine are by the doctrine itself declared in unmistakable terms unfriendly nets toward the United States. And there you are in the Venezuelan case. Meantime Great Britain is reported to have sent nn ultimatum to Venezuela, and hasn't said a word to Uncle Sr.m about it, either. There Is scarcely a doubt that Venezuela, strong In the belief that the Ar.ierican eagle will begin to scream if J. It. persists, will peremptorily reject J. B.'s ultimatum, and then the question will be "What next?"

firs ivSU W)

Nert Is that somebody will hare to "fluak" or fight. That is next. There may be i series of diplomatic pour parlors, but they will be only the preliminary to tbe "flunk" or tight. W.ile ofiicials and diplomats in Washington do not go to the extent of saying that war is probable or evn possible between this country and tireat Britain, they do not see how it can be avoided without the complete humiliation of one of the two countries. If Great Britain proceeds io enforce its threats against Venezuela that country will undoubtedly resist, and then the United States will either have to stand by the theories of President Monroe as they are now interpretatvd or drop that interpretation. It is well known that Venezuela has been preparing for this event for some lime, and tWo belief : general that as soon as Congress meets in Washington so that the President can secure immediate co-operation the Venezuelans will make a bold move to occupy the disputed territory, relying on help from Uncle Sara. The news has been of such a character that there is talk already of a special session of Congress to assist the President in "maintaining the integrity of American soil." British View of the Matter. There are intimations that the British Government would at first have been inclined to take no active steps, pending the consideration of the note from the Initel

I States submitted by liayard. Had the mat fer been kept reasonably quiet, it is said, Salisbury might have consented to some arrangement which would have "let Venezuela down easy." But the alleged demands of the United States have been made public on all sides, and this has forced Salisbury to act. A cable from Ioudon says: "Summed up briefly the attitude of the English press and people towards Venezuela is one of conscious righteousness and calm serenity. It is everywhere accepted here that the British claims are perfectly justified and complete confidence in the firmness of the Government is expressed. Hints have been thrown out for some time past that the Marquis of Salisbury will stand no nonsense from the Venezuelan Government, and consequently the announcement of the St. James Gazette that tho Premier had sent an ultimatum to President Crespo caused but little surprise. As is the case of Nicaragua, every body expects this latest ultimatum will

have the desired effect wiihov.t the ncces- j placed tit -H;.s2fM5; adding this to tha sitj- of a recours to the arbitrament of I number of pounds or. which postage was arms." J paid, as above, makes th Ty.nl weight of An official statement from the Vene- second class matter mailed r;i."4.5t7 zuelan foreign office covers the policy of pounds, or over 15..tH;7 tons. Venezuela in case the British attempt to I Tin number ef requisition for netrsbuild the military road recommended by j papers and periodical stamps tiled durin British Minister Chamberlain in his let- the years was l.;.iK",. an increase of 1.104. ter to Gov. Lees, of British Guiana. The The number of newspapers and perlodk Venezuelan statement closes with the s!g-j cal stub books requisitions received durnificant scntenco that on the question of! ing the year was "..';s5. on which were

building this roac I the course of Venezuela has been such that the "invading neighbors" cannot make another step further "on the Venezuela side of the line" with out at once provoking a collision.

UNCLE SAM'S PROTEST TO JOHN BULL.

f ß

GROVER REACHES ATLANTA. Presidential Party Yyn a Visit to the Exposition City. For tliA prose;!, at 1 nt, the scat of the Government of the United States may b said to have been transferred to Atlanta, for, says a dispatch from that city, the city harbers the President, the Vice President and six members of the Cabinet, not to mention Treasurer Jordan, Governors Coffin of Connecticut, O'Fcrral of Virginia, Stone of Mississippi and a long list of other dignitaries of officialdom. Tuesday afternoon the 1 'residential special, running h.s th? tirst section of th Southwestern vestibule limited on tho Southern Bailway. rolled into the Union depot. In aerordance with the expressed wish uf .l:e Pnsident and the desire of the exposition authorities the arrival of the party was u prived of anything in the nature 0;' a hipoodrome. Ten thousand people had assembled in the vicinity l' the station, crowding the streets in thickly as the space would allow and t.vcrflowing l"r several blocks in every direction The roofs, windows, awnings, telegraph poles and every point of vantage in the neighborhood had been utilized by eager onlookers. The special was stopped outside the depot, however, the partv disembarked and escorted to carriages by the reception committee, and the drive to the Hotel Aragon., their destination, began heft re the expectant thousands realized that the distinguished visitors had iv.-o-hed the city. Mr. Cleveland was in evident good humor and bowed in response to the contin uous ovation he received all the way to his hotcL Secretary Carlisle, who with Mrs. Car lisle rode in the second carriage, waf heered :reuenily, and Secretary of th Interior Hoke Smith, who found him-"!f on his native heath, was given a hearty reception. At the Aragon the party was made comfortable entd S:."0 p. m. At that hour th ladies were escorted to the Grand Opera House, where they were the guests of Mrs. IIok; SmiMi at a box party to see Bice's "Hi!." The presence of the brilliant array of Uahinet representatives had packed the I;oue, which is by far the largest place of amusement in the South. At p. m the President and Cabinet officers sat down in the Ara.;on banquet hall

! to a dinner, given :n their honor bv Por ter King. Mayor of Atlanta. Covcro wero laid for eighty, including the expositor I oJilcials. the visiting Gov ! or distinguished citizens. mors and othBIG FIGUR AEOUT MAS LS. ! Annual Pcport on Postal lievcntis 1 and ICxp?n (lit tires In Tilade. Kerr Craig. Third Assistant Postmaster General, in his annual r-port for the past fiscal year, thows that postal revenue frotu nil sources wer. .S7d.lS.'?,123, tho expenditures being 8s5.7t.17ll, nn excess over receipts of y.l.S'iT.'lH. Not taking into account the outstanding liabilities or the earnings of the subsidized Pacific railroad $l..";l.'.7"-, the comparisons with the statistics of tho year ending June o(, 1KH, show an increase of receipts .".mourning to l,(Mr'.r,p. and an increase of expenditures of '2,4dr.7oS. The principal Items of expenditure were: Postmasters' salaries. SI 0,070.." S; clerks in postolc.ee, $0,414,130; free delivery servic e. J II. löt railroad mail transportation. S"J5,4"0,747; star route transportation. Ö.Töo.ÖTO; mail siessenger transportation, S1.10J.0S5; railway postal car service. SL04d.0o0; railway postal clerks, .S7,ia,.nr,; foreign mails, $1,171,155. The principal items of revenue were: Letter postage paid in money (made up prineipady of balances lue from foreign postal administrations), S1"5,S18; box rents, "o'd.tMO: sales of postage stamps, stamped envelopes, newspaper wrappers and t-ostal cards. $7.",477,440; money order busi.iess, JvSI'J.I CX. Mr. Craig also submits some statistics relative to the increase of second class mail matter, v.yu which subject Postmaster Genend Bisse!! made a vigorous report last year. He says the weight of second class matter sent in the mails during the y.-ar und including matter circulated free within t!ie county of publication was IM", :u .:,S2 pounds and tha amount of postage collected. S-, 7'. 1 4.'i. This vas an increase in weight of 10,r"J4,7t' pounds and in postage collected of .105.'JP. Estimating, as her-tofore, that 15 per cent, of ail second class matter mailed is sent free of postage within the respective counties of publication, the number o por.n.is of such matter may be 1 forwarded to Mstmasters . i stun books. .'. being of the manitoid kmo. There were also sent to postmasters 5.(110 packages containing 5d,100 newspaper and periodical envelopes.