The Butler Weekly Times Newspaper, September 23, 1891, Page 1

e = Y ae’ Butler Wee | VOL. XIII. DAY SEPTEMBER 28 1891. NO. 44 Missouri State Bank OF BUTLER, MO. CAPITAL, $110,000. ‘ Receives Deposits subject to Check, Loans Money, Makes Collections and) Mr. Sherman asserts that the free | does a General Banking Business. DEPOSITORY FOR COUNTY FUNDS. In the Real Estate Loan Department. Make loans| on Real Estate on long or short time at lowest rates without delay. Allen, Mra. Levina Boulware, TC, Physician Harding Burk, Monroe Farmer Hickman, Ballard, J N Farmer Heath, DB Brown, Lula Jenkins, IRC Bartlett, Edmund Farmer ee Don A Bryner, Margaret Levy.Sam Dry Chelf, H. B. Farmer Coleman, Sam’! L Jarathers, G A Farmer ity, J M Physician . vert Farmer urtney, J M Stock Dealer wester, John Farmer De Davi Dutcher, C H DeArmond,D A, M C Evans, John Farmer Reeder, Oscar Everingham, J Physician Radford, Chas R Farmer Freemam roline and Eliza Fowler, Sullens, J L Banker WM. E. WALTON president BOOKER POWELL vice-president Furniture dealer Smith, Jehn TL Morrison. C H Farmer Miller, Alf Farmer McCracken, A Farmer McCracken, Robt Farmer V Farmer John Grocery Pharis, U F Grocery 8, J R Foreman Timxs oficePowell, Booker Farmer ‘rof Normal Sch Pigott, H H Bank Clerk Rosier, J M Farmer Reisner, J W Insurance STOCKHOLDERS? Hayes, John .WN Slayback, Ea Smith, GL Liveryman Lawyer Starke, L B Deputy circuit clerk hier Turner, Mrs M E Capitalist ’t Cashier Tucker, W E Dentist is & ClothingTyler, W B Farmer Vorie, Frank M Farmer Vaughan, J M Capitalist Wyatt, HC Lumber dealer Wells, Wiley Teacher West, RG Farmer Wolfe, Pattie Walton, Wm E Cashier Wright; TJ Capitalist Weiner, Max Boots & Shoes Walls, Wm Farmer Walton, G W Farmer Walls, J T Physician Whipple. N L Physician Williams, R V Farmer J. R. JENKINS DON KINNEY cashier asst. cashier DIFFERENT PRASES OF THE SIL VER QUESTION. As Discussed by Acknowledged Lend- ers of Different Political Parties. Journal of Agriculture. The question of the free coinage | In 1867 Mr. Sherman wrote a let ter to Mr Ruggles, representing this country in the intermonetary confer- ence at Paris, in which he advised Mr. Ruggles to support the single | gold standard, and declared that the United States was ready for the change. Senator Sherman then introduced dollar has been ef +t ' fectually uetized by the act ¢ 3 1853, passed by a democratic con-| treasury if f s Whe: tenth ty f this policy is adopted? All of this er av, a © necessity for will be repres ated by our treasury the act of 1573, which was prepared | notes—an in by John K. Knox, then comptroller | debt lof the currency, and pressed by Mr. ' Sherman through congress? ease of the national It is a public bid of 29 cents |an ounce more than the market price \for all the silver afloat ail that can be hereafter produced, made at a | time when silver is declining in value |coinage of silver would immediately | and when many of the commercial latop th» coinage of gold. He says: | nations are seeking to convert their | ©No now woud be fool enough to | silver into gold The Latin nations | deposit an ousce of gold for coinage jincluding France, have been trying | {; 2 : : | to maintain the value of silver, but | into $16 when with bis ounce of /the Latin union is vow dissolved, , gold he could buy enough silver|and each of these nations are now, bullion and have it coined without | seeking for gold to replace their sil-| | cost into $20.” | ver. | | We have been trying by negotia | | b WO be OF cal bullion | tions to induce the chief powers of | |should be forced to take silver dol- Europe to join us in an effort to) lara from the mint, this argument| maintain silver at a parity with gold | | would be good; but, in fact, the own. |at the old ratio. United States is \er of such bullion receives gold coin, maintaining the value of silver. | Lhich on ite testes oldman cn | France aud the Latin natious are | ee ©| willing to join us. In England pub- jname of the mint added, and he can} jjc¢ opinion tends to faver that poli- \either ship this gold as coin or pur-|cy. Even Germavy, which solda chase silver bullion and have that large part of its silver in the market comed into silver dollars. Why, |8#4 adopted the gold ‘standard, is | *’ | willing to make concessions. This} 5 z gold bul-| free coinage scheme is the very thing jlion? The coinage costs him noth-|thatstandsin the way of negotiation. jing, and gold in like quantity and|As a matter of course these nations fineness is returned for his bullion.” | would gladly eee us take this load Senator Sherman: “The immediate | °C? 04" shoulders. They will gladly | : j give of their silver at the rate of 16 | effect would be to give the producer | ae Eh ae ts ana yet : woe to 1 and take our gold. of silver bullion $1.29 for each ounce! the democratic party that boasted of silver, now worth 100 cents, but in its prime of its devotion to honest the certain result, and that right money, its opposition to paper speedily, will be to demonetize gold | money, @ party that in Jackson's and : : : Benton's times restored gold to our and substitute the single silver stand- currency, proposes that the United ard, and gold will be hoarded or ex ported and held at a premium. This States alone, without co operation with any power, shall take all the \i8 denied by the advocates of free coinage. General Warner, | then, should he not coin silver of the world at 29 cents an one of | Ounce more than its market value, FARMER OF BATES Cash Capital. Dd S BANK COUNTY, $50,000.00 N. THOMPSON + s-+-+ President J. K. ROSIER : Vioe-President EF. A BENNETT zd Vice-President E. D. KIPP 3 -. Cashier Dr. J, EVERINGHAM Secretary Pr. Wo SILVERS ie Attorney DIRECTORS. Juage ClarkiWix, Farmer and stock ra’ iser. Ky 3 Hurley of R. J. Hurley Lumber Company. Vice-President nd Re ‘S. Thompson, Pre John Steele, Jd E. D. Kipp, Cas! T Dd Farme Receives Deposits subject to check, loa general banking businces. Farmer. ‘armer and Stock raiser. , of Bennett, Wheeler & Company and 2ud Vice-Presidents ate Inv tor tockraiser tock Raiser Tiage Works.’’ ident, farmer and stockraiser rand stockraiser McKee, Farmer and stochraiser. hier. ns money, issues drafts, and transacts a Your patronage respectfully solicited. there would be a loss to the specu- lator bringing European silver to this country of three per cent, to- | gether with cost of transportation. Upon the estimate of the director of the mint that there is $1,100,000,. | 000 of this European legal tender silver money, there would be a loss of more than $33,000,000 with car- riage added. Besides this the gold obtained by the transaction would bé worth more in the banks of Eu- | rope as cash reserves than the silver { legal tender money which had been disposed of in the United States. Senator Sherman: “The only dis tinctive, striking feature of this law is that the United States will not General Sherman said in his Ohio ; Speech that the fear that he would attempt free silver coinage, carried | $77,000,000 of gold from the United States in four months. The indica- | tions are that we are in more dau | ger of free silver coinage than when | the geld had such freight, yet_ there ‘is a million anda half of gold on its way back; now let our money proph- ets explain again.—Journal of Agvi- culture. of silver is now before the country | as an issue, and the people need all | the hghton the subject that it is pos- | a bill at the next session of the sen- ate, providing for the exclusive gold standard in the United States, and the most intelligent advocates of free coinage, told me that if such sible to get, in order to know how to vote intelligently. The following we extract from Senator Sherman's Ohio speech, in which he discussed at length several phases of the sil-| ver question. The quotations from Senator Vest are extracts from his speech delivered recently at a farm- ers’ picnic, at Liberty, Mo. It will not require close observation to be reminded that wise men differ wide- ly. Neither will it require much re- flection to arrive at the conclusion distinguished, are not all infallibly | correct in their statements, for on the points here cited, one or the oth- | er must be in error, for they are di- ametrically opposed to each other. A non-partisan presentation of the thoughts of political leaders cannot fail to conduce to more independent thought, and develop individuality, and reflect upon the following: Senator Sherman: “The republi- can party declares that: “Thoroughly believing that gold and silver should form the basis of all circulating me- | dium, we indorse the amended coin- | that political leaders, no matter how | of which there is such a need. Read | would be the effect of free coinage | had it referred to the finance com-|). would anmen as mittee, of which he was chairman In a short time he brought it from the committee with a carefully pre- pared report urging its passage, »nd giving many reasons why we must abandon silver and adopt the siugle gold standard. The ouly won- der is that so intelligent a man can doubt it. Silver has been declining in relative value to gold, though more than two-thirds of mankind use silver as their only money: France and the Latin nations have maintained their at par with gold by coining more and receiving their old coins et par with gold, but if we will receive their silver for gold at the 3 a chief silver coins Senator Sherman has been unre llenting in his assaults upon. silver. | He is responsible, more than any other public man, for the “act to | strengthen the public credit,” passed in 1869, which made the bonds of the government payable exclusively |in gold, thereby addiug hundreds of millions to the burdens of the tax payers. This was the first and most deadly assault upon silver as a mon ey metal, and it was followed in 1873 | | by the enactment of the provision ratio of sixteen to one, they will eagerly pre- sent all of it to us except such as is The United States maintain silver at par with gald by carefully limiting the amount to be purchased, but our Jarge purchases brought foreign sil- ver to us at market price. How much more will it bring if we offer needed for minor coinage. eliminating the silver doliar from 5 e” = . }29 cents au ounce more than Ahe coinage. Js g : market price? To assume that the Senator Sherman: “The silver P United States alone can maintain pacliar iad bean enecuuallys demons silver at the ratio of sixteen to ene Hcized bythe Rel ob 1955 gbeseed cy of gold is a wilder delusion than Ja democratic congress, which sub- \ ever fillad the bran of a believes in stituted for the silver dollar the|. és fiat money. fractional silver coins with which we | Senator avert liistrreheren tls ESTES ANGE call mare cael contended by Senator Sherman that age act of the last republican con- | yer was in cireulation in 1873, but); 3 G Wis 5 by which the entire produe- | only greeubacky and fractional notes. ee pop hep' tion of the silver mines of the United ' In 1875 the republican party, by a 18 ion, & at i States 1s added to the currency of | party vote, provided for the resump ce the people. tion of specie payments, first by} This was the argument used by The coinage act referred to in the substituting silver coin for the frac-, Mr platform provides: ‘That the secre- tional notes, and on January 1, 1879} of iu but a of gold tary of the treasury is hereby direct-| by the redemption of greenbacks in | Base ne pees f af an — ei to purchase, from time to time, | gold and silver when demanded. In| : jall the predictions of its disappear- silver bullion to the aggregate | 1878 the vld silver dollar was reviv-| ance proved false. amount of 4,500,000 ounces, or 80 —— | would be exported to foreign coun-| nerman against the Bland act | | ed and issued and made a legal ten-| Even Mr. Cleveland admits that much thereof as may be offered, in ‘and stranger still, that they will is- sue for the silver an unlimited amount of treasury notes, of the United States and make them a |legal tender for all debte, public and |private. This is the doctrine which it is expected the conservative dem- ocrats of Ohio will adopt in order to gain the support and alliance of the silver barons of the west and the interested self-seekers who hope to | gain an advantage over their credi- ‘tors by cheapening tbe standard of { value, and the wild and dreamy er- | thusiasts who believe in an unlimit led supply of irredeemable paper money. | But itis said that free coinage will not have the effect I have stated; that the silver in sight is so occupied where it is that it will not come to us They said the same when the present law was passed that foreign silver would not come to us. Yet our purchase of 4,500,000 ounces of troy weight, or 187 tons of silver, a jmonth at market prices brought into the United States large amounts of silver from all parts of the world. If that is the effect of limited purchases at $1 an ounce, |the market price, what will be the probable effect of unlimited pur- chases at 29 cents an ounce more than market price? It would inun- date us with the vast hoards of silver in countries where silver alone is current money, and draw to us all the rapidly increasing production of silver mines in the world. Senator Vest: “But the argument {most persistently urged against free coinage is that all the silver of for- eign countries, pots, pans, spoons, and all, will be dumped into our mint. The absurdity of this is manifest; when we reflect that the stock of silver held by European countries is not bullion, but primary coin, which does not fluetuate with the price ef silver. The Bauk of Frarce uses its silver as legal tender primary mouey for the redemption of its paper cir | der for all debts, public or private. |he was mistaken when he made at each month, at the market price But a great change liad occurred | similar prediction in his letter of ; . <= thereof, not exceeding $1 for three hundred aud twenty tive hundredth grains of pure silver, and to issue in payment of such purchases of silver bullion treasury notes of the United States to be prepared by the secre- tary of the treasury in such form and of such denominations, not less than $1 nor more than $1,000 as he may prescribe’.” Senator Vest: another leader ot the optimates, has lately delivered an address on silver, “Senator Sherman, which contains some remarkable | statements. He is indignant that he on his 4 ould be suspected of being de to bimetalism, but if he is pot it would be interesting to know when and for what purpose he has changed his opinion. | Messrs. Warner, Reagan and others in the markets of the world inthe i, ygsq relatiye value of silver and gold. 16|~- These soothsayers overlook the ounces of silver were no longer equal culation just as it holds its gold. It has $245,838,000 of silver and $26,- 855,000 in gold and it needs botb. The same thing is true of Germany, pay for silver bullion more than its market value. And why should we? What is there about silver bullion that distinguishes it from any other product of industry that the govern | ment needs? When the government needs food and clothing for the | army and navy it pays only the mar ket price to the farmer and manu- facturer. The value of silver pro- duced is insignificant compared | with the value of any ef the articles produced by the farmer, the miner and manufacturer. Nearly all the | silver produced in the United States | is by rich corporations in a few new | states, and its production at market | price is far more profitable than any crop of the farmer, and yet it is the demand of the producer of silver | bullion that the United States should pay him 25 per cent more than its market value that lies at the founda- | tion of the difference between the | republican and democratic parties.” | ENCLISH Coughs, Colds and Consumption, Is beyond reatest of ail modern remedies 26c. bottle may save $ 100 In Doctor’ —may save their lives. KK YOUR H L Tucker, Agent. Senator Vest: “Senator Sherman | is mistaken in supposing that the | silver miners are responsible for the | demand all over the west and south ; for free coinage. It comesfrom the | Poultry Butter Eggs popular instinct that there is mani- 5 5 5 fest injustice in closing the mints to silver, which is placed by the con stitution side by side with go'd Above all it comes from the set | tled belief that silver has been de graded to increase the profits of the | money lending classes. It cemes’! from the conviction that the debtor should have the privilege of paying in gold or silver, the money of the constitution, and congress should | not legislate against either metal. | The single gold standard, which is the ultimate object, will add to the indebtedness of every debtor 29 cts for each dollar he owes, but if the | single gold standard is not establish- ed, it follows logically that all dis- crimination against silver increases the value of gold and adds to the debtor's burden. , We make a call for all your poul | try at the very highest market price in casb. Butter & Eges Taken in any quantity and cash paid for same. Farmers we Pubic Sale. We will sell at public auction, on the James Cowgill farm, 8 miles to an ounce of gold. The greatly increased production of silver tend ed to reduce its market value question then came before congress whether the United States then. now, in favor of the use of both F for money, should buy s on tor colmage at its Ret value and cover the apparent profit into the tre for the common benefit of the people, or receive it at nage ratio of sixteen ounces of silver for one ounce of gold, the ra tio adopted tifty years . thus giv 1 more than its market This was question the itis the question now.” WHY 1 73, or Ve E act oF 18 The the! “Mr. Sherman says | 0} fact that gold is but the representa | with $107,000,000 worth of full legal tive of value, and that so long a8 | tender thalers, ef which the Imperi- this country can supply the neces |ai Bank holds $48,000,000—this, saries of life to countnes that are | with $180,000,000 in gold constitut- | compelled to have them we will pro-/ ing its cash reserves. | cure all the gold we need England | This legal tender silver coin is takes our wheat, cern and cattle be | afloat in Europe of the valuation of | cause she is forced to do so, and if| which it was issued, viz, at 15.5 to! -/ we demand gold in return the same | 1 in gold, and if we take our gold, | necessity will compel its payment.” ras the unit of comparison WHAT FREE COINAGE MEANS. this silver would yield 359 81 grains Senator Sherman: “But this is |Of pure silver, as against our mint! not the worst of it. Free coinage |Tequirement of 371.25 grains. Any- that we shall purchase, not, four and a_ half i money to exchange at our mints if! acnonth, but all the we adopt free coinage must add! ered, come from where 11.34 grains to every 100. There present in quantities of | fore at $1 for 371.25 grains of silver the United States and 21 for 359,-| ains in Europe, of $1.29 per! of 480 grains here as against | per ounce of 480 grains abroads | mees ata time. We are to holder either coin or treas-|91 ¢ at his op , at the rate | ° r every 371 grains, now worth | one bringing this European silver | ,.:)) southwest of Butler and north of Nyhart on Tuesday, Sept. 29, the following described property to-wit: Seventeen head of horses, consist- ing of two brood mares, 4 two year old colts, 8 yearling colts. 1 yearling mule and 2 suckling colts. 14 head | of cattle—5 mileh cows, 42-year-old steers. 3 steer calves. 2 heifer calves, a lot of oats in bin and a fine lot of | cent in paid when due. cent on | cash. A discount of 10; all sums given for cash. Sle com- | mences at 10 o'clock. j * H. J. & Lecas Cowsrrt 2 miles , want your and v ther gue ave Poultry, Butter and Eggs. And get the cash. Headquarters at A. L. BRIDE & CO Hannibal Poultry Co. 35-1m By James Smith. Scere, Prempt, Poesttve Cure for Impotence, Lose Seminal Address Babaré Sosw Liziness Ce., 299 @T. Louie. = "MO.