People's Pilot, Volume 3, Number 45, Rensselaer, Jasper County, 27 April 1894 — Page 7

DEFENSE OF THE MILLIONS.

Arjumenti of a Gold-Bus Taken Up by President George G. Merriek, of the Colorado Silver League, and Successfully Controverted. Mr. Matthew Marshall, a financial writer of the New York school, says that “the advocacy of the gold standard is not the advocacy of the cawte of the few against that of the many, but the defense of millions of wage-earners against the comparatively few farmers of the west and planters of the south.” Before committing himself to so broad and sweeping a statement as that Mr. Marshall should have been very sure of the facts, and sure also that the facts squared with the truth. According to Mr. Marshall the gold standard —“the outlawry of silver” — which has closed so many mills, factories, mines and other industries that employ labor, which has sent so many railroads, banks and trust companies into the hands of receivers, is in the interest of “wage-earners," beneficial to them, and injurious only to the “few farmers of the west and planters of the south.” The great staples of the farms and planters of the west and south for the crop of 1873 were produced on 2,600,000 acres of land, in the production of which something over one-half the entire population of the United States were engaged. And, had the prices received by them for that crop been the average prices paid for the same great staples during the year 1881 and 1885, these farmers and planters would have been paid $645,000,000 more than they have received. Of what avail is it to the mill hand, to the factory operative, to the wage earners of the Atlantic states and cities, that the materials for food and clothes are cheap when by the same cause that produced that cheapness he is deprived of employment and forced to eat the bitter bread of charity? The enormous reduction in the purchasing power of the farmers and planters of the west and south, when examined in relation to the earnings of railroads, the operating of coal and iron mines, sufficiently explains why factories, mills, shops and railroads suffer from idleness or lack of earning capacity. And the all-sufficient explanation is found in an insufficient money volume, caused by the “gold standard.” It were far better for every wage earner in the United States that all prices should have been maintained. In which event the farmers and planters, the miners of coal, iron, gold and silver, the railroad operatives, the great consumers of manufactured goods, would have money with which to buy them. Under the “gold standard” they have not the money; cannot get it; it don’t exist. Therefore, mills, factories and shops must be idle, and must remain so until we, as a people, have sunk to the pauper labor level of Europe, or have restored the ancient landmarks of money by the coinage of silver.

It will be difficult to condense into six lines of type more error, more misrepresentation, than is contained in the quotation from Mr. Marshall. The farmers and planters of the west and south make no attack upon the wage earners. The wage earners need no defense by the advocacy of “the gold standard.” This gold standard is the fiend incarnate which robs both farmer, planter and wage earner, and it matters not whether this wage earner be dependent upon the farm, plantation, mill, factory, mine, railroad, store, shop or office, its merciless grip includes them all. In the same article Mr. Marshall further savs: “The truth is, the whole country, New York included, needs to have a more accurate knowledge of financial facts generally diffused among its c tizens, and to have manj’ popular financial errors exploded, before it can settle the currency disputes which are now raging.” In the teachings of the Master certain persons were instructed to remove the beams from out their own eyes before attempting to take the motes from their neighbors’ eyes. This advice is respectfully recommended to Mr. Marshall in his treatment of the cause of the wage earner as it relates to the gold standard, or bimetallism.—George XJ. Merrick, in Denver News.

A FINANCIAL PROBLEM.

Can the United States or Any Other Debtor Nation Maintain the Single Gold Standard? In order to maintain the single gold standard in any country there must be kept constantly on hand gold in some proportion to the currency to be redeemed. Assuming that the amount now in this country is sufficient to secure at all times prompt redemption in gold of all other forms of money, then, under these conditions, if the United States, or the people of the United States, owed nothing to other countries and other countries owed the United States nothing, it would only be necessary for us to sell commodities enough to pay for what we buy elsewhere to keep even with other countries. To be able to do this, however, prices of the commodities we sell must be as low in the United States as anywhere else, otherwise we could not sell enough to pay for what we imported. In case exports in this way’ are made to balance imports, no gold would have to be transferred either way, and there would be no disturbance in monetary conditions. But, if we fail to sell commodities enough to pay for what we buy abroad, then gold must be transferred to cover the. difference; on the other hand, if the balance be in our favor, then gold would come to us. U nder these conditions all that would be necessary to enable us to compete on even terms with other countries, would be to keep prices of commodities so dealt in at the international level of prices, by keeping the money volume properly restricted; otherwise the volume of money would be automatically reduced by the exportation of gold. But take the situation as it actually exists between England and the United States, or between England and India. England has invested from ten to twelve thousand million dollars in other countries, the income from

which amounts probably to not less than $500,000,000 annually, which is more than the combined value of our entire wheat and cotton crops for 1893. j The United States, on the other hand, i according to conservative estimates, i owes to other countries, mostly to En- , gland, to be paid annually as interest, i $200,000,000 to $250,000,000 That is. in ! order not to be obliged to part with gold to settle balances, we must not ! only sell commodities enough to [ pay for what we buy, but to bay $200,j 000,000 to $250,000,000 interest on what we owe other countries besides In or- , der to do this, prices in this country must not only come down to the international level of prices; but must go enough below that level to induce the rest of the world to buy of us $200,000, - 000 to $258,000,000 worth of commodities more than we buy of the rest of the world. Nor can tariffs materially change these conditions. It is admitted, however, that to the extent a tariff operates to check imports, it will tend to reduce the amount to be paid abroad; but if it operates to raise prices of the goods we export, and thereby to check exports, then it will, in so far, tend to neutralize the effect of a check on imports Under these conditions, it will be seen how futile must be the attempt to keep up prices by currency or credit inflations Such devices will only expedite the expulsion of gold by making it impossible to pay what we owe with commodities, and as gold is exported a violent contraction of credit always sets in, followed by a disastrous collapse of prices Now turn to England, a creditor nation, with an annual income of $500,000,000; she may import $500,000,000 worth of commodities more than she exports without having to transfer an ounce of gold to settle balances It is not necessary, therefore, for prices of commodities, internationally dealt in. to be kept at as low a level in England as in other countries She does not need to sell as much as she buys and never expects to. Individuals may and do suffer there as here, but as a nation England stands on a very different ground from that on which the United States stand. Nor is that all. England controls India absolutely, and can play imports from India against imports from the United States, and thereby keep down prices in both countries. This is exactly what England is now doing, especially with wheat and cotton.

Of course, in lieu of transferring gold to pay interest, or in settlement of balances, we can sell bonds as long as our creditors will take them. In other words, we can give new notes for interest due, as long as our creditors will be satisfied with that kind of payment, and that is really what we have been doing to a very large extent for many years. But that road leads necessarily ,to bankruptcy, and the longer it is followed the worse our condition becomes. The conclusion, therefore, is irresistible that no nation largely in debt can permanently maintain the single gold standard. And historically no debtor nation has ever been able to do so. Italy a few years ago bought with bonds, on which she now pays gold interest. $200,090,003 in gold; but in a few years it was all gone, and gold is now at a premium in Italy of from 15 to 20 per cent Indeed, even her coined silver has largely gone to France, and she is left at last with only inconvertible paper money. So it is with Spain, Portugal, Greece, and so with Australia and every South American state that has undertaken to establish the gold standard; and so it will be with Austria when she liberates her gold, and the United States will prove no exception if we pursue long enough the path we have so foolishly entered upon. Under the bimetallic standard, with silver widely disseminated among the people, and constituting a principal part of the general supply of currency, the exportation of metal from accumulated stores to settle balances, would have little effect on the money volume as a whole. If gold left us at times, silver would always be at hand to take its place as basic money. But the difference is measureless if silver itself, or certificates representing it, is to be redeemed in gold, as must be the case with the single gold standard.—A. J. Warner, in N. Y. Sun.

A Finan. ia[?] Tryant.

The English people are a very shrewd people, says a southern exchange. For ages, when not engaged in internal dissension, they have been milking the balance of the. world. There is not a country on the globe that has not. and is not now, paying tribute to Great Britain. The less civilized the nation the more she squeezes them. Sometimes her victims turn and fight. If it is not profitable to fight she soon makes peace, for nine times out of ten she is the aggressor. But because she makes peace it does not follow she will change her coarse. It is a determined power. They cut and come again in some other way, and generally get what they are after. Her power is pernicious and always fatal when she gets the influence she seeks. Look at Egypt, Turkey, India, China, South America and Mexico. All these countries have been her patrons. She traded almost exclusively with them, advised with them and "loaned them large sums of money. They have paid the penalty. England succeeded in impressing some of our statesmen with the fact that what is good for England is good for the United States. England maintains the single gold standard. It is what her bondholders and money lending syndicates demand, and we have American statesmen who seem ever willing to play int? the hands of this financial tyrant.

No Backing Down.

As soon as the president’s veto was read in the house Representative Henderson, of North Carolina, submitted a bill for the coinage of the silver seigniorage. The text is the same as the Bland bill, omitting the second section and some of the explanatory language of the first section. It directs the secretary of the treasury to coin as fast as possible the silver ■eigniorage into legal tender standard silver dollars.

Th® Procrutlnationlat. there uster a feller who Ud set an' tell what he 'ud da He'd show 'em how to make a hit When onct he got erround to It. An' he teat snia«t No one 'ud doubt He knowed whaa he was talkin’ 'bout It seemed jes zif he'd clearly planned Success ner missed a “if" er ’-and.” He said he'd write a book in which 'Twas certain he 'ud strike it rich. He'd outline lots o’ plays 'at he 'Ud bet 'at folks ’ud flock to see. He had a lectur' on the string He knowed 't.d draw like ever'thing. An’ lots o’ schemes to bring him gold More an’ a circus tent 'ud hold. I'veheerd ’at feller set an’ split His plans fur scoopin' up the tin Until down in my bones I felt He'd surely die a Vanderbilt. When once he got right down to bis I knowed the earth ’ud soon be bls. An' when he ast me now an’ nea , I’d alters loan him five er ten. The years went on as years’!! da, An’ he kep’ on a talkin', too. Till in the potter's field one day They laid this man o* words away. An* writ upon a slab above 'At soul ’at allers seamed to love To chin an’ chin an’ opin an’ chin: “ Here lies a man who might have been." —Nixon Waterman, in Chicago Journal.

Monon Route.

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Great Novelty Free.

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THE MARKETS.

New York, April 25. LIVE STOCK-Cattle S 3 40 © 470 Sheep. 3 50 © 4 75 Hogs 5 00 @ 5 65 FLOUR—Minnesota Patents... 3 40 <313 90 City Mill Patents 4 05 fit 4 30 WHEAT—No. 2 Red 61 © 62j£ Ungraded Red.. 61».',(a 62 CORN—No. 2 44 © 44 % Ungraded Mixed 44 @ 45;/, OATS—TraeK Mixed Western.. 39 © 40 RYE—Ungraded Western 60 © 65 POUK—Mess, New 14 00 ©l4 25 LARD—Western 8 05 @8 07J4 BUTTER—Western Creamery. 15 (® 21 Western Dairy 11!4@ 15 CHICAGO. BEEVES—Shipping Steers. .. <3 00 a 4 60 Cows i 90 © 3 40 Stockers... 2 80 © 3 10 Feeders 8 30 © 3 80 Butchers Steers 3 10 ftj 3 30 Holls 2 00 © 3 50 HOGS a 90 © 5 25 SHEEP 2 uO © 4 50 BUTTER—Creamery io @ 19 Dairy 12 © 18 EGGS—Fresh 914© joiz BROOM CORN- * Western (per ton) 30 Oo ©55 00 Western Dwarf 50 00 ©7O 00 Illinois Good to Choice 45 00 (370 00 POTATOES (per bu.) 66 (ai 90 PORK - Mess 1230 ©l2 40 LARD—Steam 7 52H© 7 55 r LOUR—Spr.ng Patents 320 @3 50 Spring Straights 2 20 © 2 <3O VVlnter Patents 2 80 @ 3 (X) Winter Straights 2 6» © 2 75 GRAlN—Wheat, Cash 57 @ b 7% Corn, No. 2 Oats, No. 3 323. az Rye, No. 2 48tf@ 5o Barley. Good to Choice 51 @ 58 LUMBER— Siding 16 00 ff 1.2.1 50 Flooring 35 00 @36 00 Common Boards 14 50 t 0.14 60 Fencing 13 00 @I6OO Lath. Dry 250 @ 2 6J Shingles 2 60 @ 3 15 „ KANSAS CITY. CATTLE—Shipping Steers.... <3 00 @4 50 Stockers and Feeders 250 @ 3 80 OMAHA. CATTLE—Steers 42 80 @ 4 30 Feeders 2 M ©3 80 SHEEP 3 25 @ 4 50

& NEURALGIA ARE CUBED BY ST. JACOBS OIL. PROMPT AID SURE. THE POT INSULTED THE KETTLE BECAUSE THE COOK HAD NOT USED SAPOLIO GOOD COOKING DEMANDS CLEANLINESS. sapolio should be used in every kitchen.

Ely’s Cream BalmßSj&ja WILL CURE 'c<! CATARRH Ha lntoench nostril. ■Lt BBQS.. 56 Warren St.. N.Y n - - - now to 3Bxrsr ... REFRIGERATORS TBa -SW Mmjw HiH.

$100 Reward, SIOO.

The reader of this paper will be pleased to learn that there is at least one dreaded disease that science has been able to cure in all its stages, and that Is Catarrh. Hall’s Catarrh Cure is the only positive cure known to the medical fraternity. Catarrh being a constitutional disease, requires a constitutional treatment Hall's Catarrh Cure is taken internally, acting directly on the blood and mucous surfaces of the system, thereby destroying the foundation of the disease, and giving tie patient strength by building up the constitution and assisting nature in doing its work. The proprietors have so much faith in its curative powers, that they offer One Hundred Doljars for any case that it fails to cure. Send for list of testimonials. Address, F. J. Cheney & Co, Toledo, O. JSTSoId by Druggists, 75c. Hall’s Family Puls, 25 cents. Rich Aunt—“li seems to me as if you only came when you needed money.” Poor Nephew—“ But I can’t come oitanar. 11 *- Hallo.

"Shall I Ever Be Atretic Again?”

Many persons suffering from chronic hck of vigor ask themselves this question in vain. They have neglected the one sure means of conferring what they lack and long for. In a very brief time, if they would but use Hostetter’s Stomach Bitters, they would find their appetite and sleep renewed and strength revived. The Bitters will also surely remedy dyspepsia, malaria and liver complaint. Ordinary beer is sold by ths barrel, but bock, notwithstanding its goat emblem, is not disposed of by the butt.—Philadelphia Times.

The Skill and Knowledge

Essential to the production of the most perfect and popular laxative remedy known, have enabled the California Fig Syrup Co. to achieve a great success in the reputation of its remedy, Syrup of Figs, as It is conceded to be the universal laxative. For sale by all druggists.

.SMMBiB. Ata S I tf/V

If the following letters had been written by your best known and most esteemed neighbors they could be no more worthy of your confidence than they now are, coming, as they do, from well known, intelligent, and trustworthy citizens, who, in their several neighborhoods, enjoy the fullest confidence and respect of all who know them. The subject of the above portrait is a well known and much respected lady, Mrs. John G. Foster, residing at No. 33 Chapin Street, Canandaigua, N. Y. She writes to Dr. R. V. Pierce, Chief Consulting Physician to the Invalids’ Hotel and Surgical Institute at Buffalo, N. Y., as follows: “I was troubled with eczema, or salt-rheum, seven years. I doctored with a number of our home physicians and received no benefit whatever. I also took treatment from physicians in Rochester, New York. Philadelphia, Jersey City, Binghamton, ana received no benefit from them. In fact I have paid out hundreds of dollars to the doctors without benefit. My brother came to visit us from the West and he told me to try Dr. Pierce’s Golden Medical Discovery. He had taken it and it had cured him. I have taken ten bottles of the ‘Discovery,’ and am entire!cured, and if there should be any one wishing any information I would gladly correspond with them, if they enclose return stamped envelope." Not less remarkable is the following from Mr. J. A. Buxton, a prominent merchant Jackson, N. C., who says: “I had been troubled with skin disease all my <ife. As I grew older the disease seemed to be taking a stronger hold upon me. I tried many advertised remedies with no benefit, until I was led to try Dr. Pierce’s Golden Medical Discovery. When I began taking »t my health was very poor ; in fact, several persons have since told me that they thought I bad the consumption. I weighed only about 125 pounds. The eruption on my skin was accompanied by severe itching. It was first 1 confined to my face, but afterwards spread over the neck and head, and the itching bei came simply unbearable. This was my con--1 dition when I began taking the ‘Discovery.’ When I would rub the parts affected a kind of branny scale would fall off.

■AS S 3 SHOE k, costing f:om e for the money ante and price ottom. Every Take no substi- ! papers for full of our complete ladier and genor send for llated Catalogue giving instruct 10ns how to or. derby mail. Postage free. You can get the best bargains of who push o» * shoes. GOOD LUCKfISffiS.TO broidery. Bu.mi.lng, etc., mailed on re.-*lpc of m cent*. AOENTS WANTEb. Write for p*rilcul»“ FAItXIAAM*. IT W. l«th Ktroot, NEW WAAK. v>4Mku»nwu« N9 MB. r B M ta

| Housekeepers | * Should Remember. ♦ •$< The Government Chemists, after having analyzed 3 all the principal brands of baking powder in the J market, in their reports placed the “Royal” at the £ head of the list for strength, purity and wholesome- J ness; and thousands of tests all over the country £ have further demonstrated the fact that its qualities J are, in every respect, unrivaled. Avoid all baking powders sold with a gift or prize, or at a lower price than the Royal, as they in- 2 variably contain alum, lime or sulphuric acid, and A render the food unwholesome.

Tramp— “Will you pleas© give me ten cents, sir, to get a plate of hash I” Citizen—- “ There’s a nickel. Beer is better than whisky for your stomach in the morning.” —N. Y. Press. He—“ All the world loves a lover.” She (gently)—“Except sometimes the girl the lover loves.”—Harlem Life. No man who Is wedded to himself ever wants a divorce.—Dallas News.

For a while I saw no change or benefit from taking the ‘Discovery,’ but I persisted in its use, keeping my bowels open by taking Dr. Pierce’s Pleasant Pellets, and taking as much outdoor exercise as was possible, until I began to gain in flesh, and gradually the disease released its hold. I took during the year somewhere from fifteen to eighteen bottles of tho ‘Discovery.’ It has now been four years since I first used it, and though not using scarcely any since the first year, my health continues good. My average weight being 155 to 160 pounds, instead of 125, as it was when I began the use of the ‘ Discovery.’ Many persons have reminded me of my improved appearance. Some say I look younger than I did six years ago when I was married. lam now fortyeight years old, and stronger, and enjoy better health than I have ever done before in my life.” Yours truly, Thousands bear testimony, in equally strong terms, to the efficacy of this wonderful remedy in curing the most obstinate diseases. It rouses every organ into healthy action, purifies, vitalizes and enriches the blood, and, through it, cleanses and renews the whole system. All blood, skin, and scalp diseases, from a common blotch, or eruption, to the worst scrofula are cured by it. For tetter, salt-rheum, eczema, erysipelas, boils, carbuncles, goitre, or thick neck, and enlarged glands ahd swellings, it is an unequaled remedy. Virulent, contagious, blood-poison is robbed of its terrors by the “ Discovery " and by its persevering use the most tainted system, renovated and built up anew. A Book on Diseases of the Skin, with colored plates, illustrating the various eruptions, mailed by the World's Dispensary Medical Association, Buffalo, N. 1., on receipt of six cents for postage. Or, a Book on Scrofulous Diseases, as Hip-Joint Disease, “Fever Sores,” “ White Swellings,” “Old Sores,” or Ulcere, mailed for same amount in stamps.

The Greatest Medical Discovery of the Age. KENNEDY’S MEDICALDISCOVERY. DOKALD KENNEDY, of ROXBURY, MISS., Has discovered in one of our common Pastureweeds a remedy that cures every kind of Humor, from the worst Scrofula down to a common Pimple. He has tried it in over eleven hundred cases, and never failed except in two cases (both thunder humor). Henas now in his possession over two hundred certificates of its value, all within twenty miles of Boston. Send postal card for book. A benefit is always experienced from the first bottle, and a perfect cure is warranted when the right quantity is taken. When, the lungs are affected it causes shooting pains, like needles passing through them; the same with the Liver or Bowels. This is caused by the ducts being stopped, and always disappears in a week arter taking it Read the label. If the stomach is foul or bilious it will cause squeamish feelings at first No change of diet ever necessary. Eat the best you can get, and enough of It Dose, one tablespoonful in water at bedtime. Sold by all Druggists. FOR SALE APDCQ ot ™ i. 000.000 Abnto farmiig lards ■rxuu nu* ,

A man doesn't get much done when working around the house. Every few minutes ho is reminded of something for which hs must scold his wife, and that takes time.— Atchison Globe. “They’ve each got a touch of brimstone in their tempers.” “Is that sot Then they ought to make a good match.”—N. Y. Press. The man who is scared at ghosts Is afraid of nothing.—Philadelphia Times.

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