Evening Star Newspaper, February 5, 1896, Page 8

THE EVENING, STAR, WEDNESDAY, FEBRUARY 5, 1896-TWELVE PAGES. — = ] 7 = “= | SOOtoossesoes ooseeesesoesso | become a silver monometallic nation on Ig = VISILVER AND GOLD) sierptstr= neomsane : NY ONE run do w The b — Passing you The ° The igsue between those who hold that wn, : AND ie best at the lowest —— Sl € free and unlimited colnage of silver at the or ciated fr B. rice at Beveridge’s, ° the prof a neve ratio of 16 to 1 by this country alone would emacia om eC SONS, g result in giving us the permanent concur- - a ii Mattire Ss (Continued from First Page.) rent colnage and clreulation of gold and sii-| @Ny Cause whatever, will be nding %, ver—for I am not addressing myself to A Visit from Eee fs LENG Saris ° holders of the French paper currency to | those who desire silver monometaiiism—is | helped at once by the use of F Street, | Storage Warehouse, | le ever held pees Meng ny meine accept ae ain pert peynent hee Sasi eles! ~ roa Sonsiiere a of = se tt the marl t it of not -demption, 6 question as to whether such coinage Comer Eleventh. || Ae nore: Your Doctor —At— Bat the ‘equal oe snatyet Cresarveecine macity of these notes | would so change the relative value of gold —will cost you as much as it will The Re¥ersithe with gold, overlooks the fact that it is not | and silver in every market of the world as Agents for the famous MeCON: ELL, WATER FILTER and those popular STONE FILT! Both are good—both do their work thoroughly. Prices, to $23.00. Plore news from _ our Great Sale of Carpets and Rugs. We've included in the list for re- ductions every remnant, all the edds and ends and patterns we'll discontinue carrying in the house. Makes a tremendous variety of goods to choose from, and enables us to quote prices of surprising lowness. A few of the prices in Art Squares and Rugs today. Art Squares. Some of the pretties: and rarest Squares we'll not be able to duplicate next om have been Iargely reduced. They're the best quality Two-ply All-wool Squares: Size. v 2% yards by 3 yards by 3 yards by yards ete 54 inches b 69 inch 72 inehes by 36 inch Geet by 9 feet. Made-up Rugs R ag from 5 to 25 yards at less than the ordinary cost of matertals. It Art Rooms—6th floor. —for 6 Sterling Silver Af- ter-dinner Coffee Spoons— heavy weight—gilt bowls— in handsome silk case. 7A BEAULIFUL WEDDING GIFT. Galt & Bro., Jewellers, Silversmiths and Stationers, 107 Penn. Ave. gs. ‘A Godsend To Dyspeptics. PO FONTICELLO LITHIA WATER. A lightness anil pleas- a he ¥ GIST, ‘J.W.Jennings, Gag 1142 Conn. av none 1623 That Big : Beauty on the corner of I streets? z ‘= is our new building—and it's $ only a matter of a very few days now when we shall get into it. That’s good news— But the sSeedontoedestondesten Removal Sale stops that very minute. While you've got the chance why don’t you make the most of it? Isn’t there something about home you need? Everything in our present stores is in this sale at the lowest prices ever quoted on reliable Furniture — Carpets — Draperies — Stoves—Ranges, etc. Credit, too. Serene PODS DD ere rtere rarer rire DOD arere Dred rde creed ede Grapes eeged Y/Y Fo a 9 ant Seetee House & Herrmann ‘The Leading Housefurnishers, 917, 919, 921 AND 923 7TH ST. feted @36 MASS. AVE, ’ Goedoetesontoateeosgontentratents Qearesetendonteege eaten t Mitpaetetetntentetetetttetndetetttetete Kalon's.” | Stop in and when passing. Buy or uot! CH of perfect fia. vor ready mixed, ready for faver- Any You have never tasted good Puneh unless you bave Sener “To- ‘sample’ it C. wat... 50 Wine Co., Phone 998. £3 20d TO-KALO 614 14th St. REPAIRING {OF CLOCKS ‘ S $ q Has long been a specialty of our! Here are men—thoroughly familiar with every detall of the work—who 9 nothing else In fact but repair Watches and Clocks. We warrant all our work to be of the finest class. Bring in your timepiece and we'll tell you What's the proper treatment for it. (CARL PETERSEN, 427 7th st. Www vevive rT errrry fel-24d wee weeereveeeesd Fur Capes Reduced. We _ ha lowered the price on some of our Fine Fur Capes, which means that you an now buy them et even lower than our already low prices. Read these: Fine French Coney 30-inch Fur Cape, satin lined tl shout. Re- Fiwe 20-in Astrakhan Cape. Re- glen yf pemestineren nana ee Elegant Half-sheared 80-Inch Gorey Capes. Reduced to......... B. H. Stinemetz & Son, $18 SiATTERS AND FURRIERS, 1387 Pa. ave. ja31-200 WE CLEAN, Mai them fost as GOWNS. Wagon calls, ‘Anton Fischer, 906 GSt. xa. to buy a Filter. ‘Then why endanger the health of your family any longer by drinking MUDD lable to contain D! The Imp. Natural Stone Filter HAS NO SUPERIOR. Price, $3. to $9, according to size. The $4 size is’ the most popular family’ size— it’s large enoih for a family of six. The “Success” Filter is also a natural store Filter. It comes in one size only—4 gallons— price $3.50, A good Filter for the Thoney: Beveridge, S1a1g F St. and 1214 G St.¢ 3 Pottery, Porcelain, Glass, &c. it Rrreer DOPOD OP PPO PPO OOOHO $M. W. PEROT ES FAO ‘The most ekeptical person in Washington will readily admit that if the late Eben D. Jordan, head of Jordan, Marsh & Co., Boston (the largest dry goods house in New England), gave his indorsement to a statement that it is true and worthy of belief. Read this letter: BOSTON, Mass., April 20, 1894. (Care Jordan, & Co.) I had catarrh for twenty years, and the last ten years (all of which time has been passed in this great establishment) I sut- fered fearfully. One-half dozen handker- chiefs per day would be used. It extended to my throat. The base of my tongue was badly aifected. I could not sleep with my mouth closed. I began using Hyomel in December, and in two weeks I was catirely, after four months and no return of se, I can say, permanently, cured. Iam going to ask the head of this firm, Mr. Eben D. Jordan, to indorse this state- ment. Mrs. ELVIRA B. B. GIBSON. INDORSED, EBEN D. JORDAN. The use of this new and wonderful rei edy, HYOMEI, the Australian “Dry Ait treatment, has prompted hundreds who have been cured of their Asthma, Catarrh, Bron- chitis or some kindred disease to indorse Booth’s Pocket Inhaler Outfit, $1.00, Any dragzist has it or can get it for you 4f you insist. Don’t be persuaded into buy- ing a substitute. There is nothing ke it on the market. THE R. T. BOOTH CO., 18 East 20th st., New York. For sale in Washington by the following druggists: W. 8. Thompson, 703 15th st Edward P. Mertz, corner lth. and F sts. nw. Ja27-eo3m Have’ (3| Fy ‘Rather a Powder than @ ligaid tor your | teeth? Want to be careful what kind of a | powder you use. One | hat contains grit or acid will ruin the teeth. Nothing injurl- | ous In WHITE'S DEN- | TINE. Mal teeth Tike pearls — cleanses , and whitens them. De- stroys all odors of the teeth and breath. ONLY 20c. BOTTLE. | OGRAM’S i} 3th bs | Two Drug Stores, Yin ba Wets® feb2s1 White’s Dentine, Only 2oc. Bottle. aan aN ‘Baby Carriages. Sot a bad {dea to be a little nded when there's a_money ation and new stock of H at a ba ing REUPHOLSY This discount applies to e booked before February 15. THE Houghton Co., 1214 F ne N. Ww. fet-204 Great Reduction In Hair, 00. ches, $2.50, formerly i, etc. mal Wigs for hire. S. HELLER’S, 720 7th Street N. W. $a30-204 we That's the Boston term SCRATCH for Writing Tablets—“‘scratch x» paper.” We have lots of it PAPER and are still making that special offer of the 80-page AT Tablets at 5 cents each. Parker’s, G17 & 619 7TH ST. N.W. Ja31-16d rT ‘aa ena , reer No need for the -clothes to look yellow and dirty even if the water is muddy. They won't if you insist upon your washwo- man using Weaver, Kengia & Co.’s “Laundry & Borax” SOAPS «= These are the purest soaps made, and all are invited to in- spect our plant. Plant, 3244 K St. N. W. For sale by all gro- cers—accept no substitute. fet-32d = 00000 ‘gam ou The California Corset Fits, Wears and is Comfortable. +IS NOT SOLD IN STOR! Send for Descriptive Catalogue. California Corset Co., §a30-3m BROOKLYN, N.Y. S Paper, pencils, draw- ing boards, T squares, ic kinds semen cecal tracing cloth, blue for Aen, oe and D Teunntenee! im the elty at prices ‘that appeal to all. print paper and other materials, such as MUTH’S MODERN MART, Was Geo. Ryneal, Jr., tostruments, &e., &c. 418 7TH ST. N.W. We carry the most ja31-24d ‘mi sme complete assortment « Use SHAKER DIGESTIVE CORDIAL. Docs not cure all diseases, but it will care Dyspepsia or Indigestion.” All druggist w2i-w <b,s,mly | PERRY’S. You are fortunate again— “» most fortunate. We have % still some Muslin Underwear $ that must be sold in short *% order. And with our cus- & tomary energy we are not * standing on ceremony—not 5 aiming at profit-making— 3 not caring a penny what $ story the cost marks tell. We % are wrapped up in the one + purpose of “putting a posi- % tive period” in another de- partment. Of course you will appre- ciate that now the lots are broken. Some of the gar- % ments are tossed and tumbled. % But there is all allowance % made for that in these. be “Greater :Reductions.” Sesegostontensongosteegeegengeatreseesortoiteeser ser soifaitoesecgostersersoegectergoatenseetentefostectensenterine See Ses orienta ented ee Coto Ge Geran ol Mgogd BS $ % Corset Covers. 3 — é & A lot of Muslin Corset Cov- 4 $ ers, with high necks, linked $ 9% fronts and edges trimmed s 4 with embroidery—REDUCED I5¢ ‘g from 20¢ to. : : é A lot of Cambrie Corset Covers, with rll styles of kecks and trimmed with pretty embroidery—soiled a lttle, but what do you eare? They are the Oc. and 1gC. 5 ~~ kil for. Srasoadendondoasersensendondeegeegentensess A lot of pric Corset Covers, with syvare or “Ve” necks, trimmed with lace and embroidery. These show. signs of being handled, too— for it. ‘They + BNC, Tea 89c. and 98c. kinds—for 29c. and 39¢. A lot of Cambrie Corset Covers, with “V" necks, trimmed with wide embro!d- ery ond lace back and front —and high necks with in- sertion and ‘Torchon lace edging. REDUCED from Te. and 85e. to 50c. and 59¢. A lot of the best Cambrie Corset covers that can be made in all styles, trimmed with embroidery, Torchon, Medict or Valenciennes lace. Cut because they're mussed— $1.35 and 75c. $2.98 ones for $1.98. segedeatecgecegeateagentvageaingongengengeedegeeseaessesgheseeshesonsenenteseatoasesteeageataataseegeeteateaseatectetiathatentn tec speedo teteteaedeaaenesedenniadeaedettiletetet oH $2.75 ones for $1.50. $ $2.00 ones for $1.39. $ $1.50 ones for g8c. é $ Drawers. $ $ - with deep hem and clu + 3 * tik above yoke. Offer- 25¢. e 4 A lot of Muslin Drawers, trimmed with tucks and Seeded ind oo REDUCED = from 50c. to. poe 3OC- z as ie A lot of Muslin and Cam- 4 brie Dra®ers, trimmed with $ lace and embrvide cause they are soit fare REDUCED—from and 98e. to. A lot of Muslin and Cam- brie Drawers, trimm¢d with embroidery and Ince—slight- ly soiled—and REDUCED from Sc. and 98c. to. 69¢. A lot of Muslin, Cambrie and Nainsook Drawers, trim- med with insertions and ruffles of lace and embrol- dery. REDUCED from $1.79, $2, $2.75 and $2.98 to 8oc. and g8c. Chemise. A lot of Muslin Chemise, with “V" neck, trimmed with insertion and ruffle of embroidery. REDUCED from $1.48 to.. 69¢. A lot of Muslin and Cam- & é 3 & z é & : : £ 4 i Ka : £ £ & < brie Chemise, regular and £3 extra lengths, trimmed with 4 embroidery and lace. RE- & DUCED from §1.79 and $2 to & 8oc. and g8c Short Skirts. A lot of Muslin and Cam- brie Short Skirts, trimmed with ‘Torchon and Valen- ciennes lacs REDUCED from $1 to. etetetetageteto A lot of Muslin Skirts, trimmed with tucks and ruf- fles of embroidery, RE- DUCED from $1.89 to....4. TOC. eeSeeeogen sated Long Skirts. A lot of Cambrie Skirts, Point D'Paris lace. KE tS] DUCED from $1.98 to... 9 Cn A lot of Cumbrie Skirts, trimmed with tucks and Point_D'Paris lace. RE- DUCED from and trimmed with ‘Yorchon and insertion, aml ruffle of $2.50 to. A a A a a ee a a I a A ae ee a i eS $1.39. el embroideries. (8D from $1.89 A lot of Cambric Gor with fine tucked shirt fronts and trimmed with embroidery. DUCED from $3'to. Alot of Gambrie Gowns, bountifully trim- med with laces and em- brolderies—but soiled Just a little, REDUCED from $3.50, $3.89 and $4 to $1.98 and $2.39. PERRY’S, RE- $1.68. “Ninth and the Avenue.’* Established 1840. ‘Telephone 995. Has yt/td Be made. Stutted mwith( rattan fiber, With piente-of cotton On bot sides, it never Becomes set_or shapeless. Can be nsed_on either side. And is not ‘more expensive ‘Than the onqinary kind. At your Deale qt to Tre Comfort - Spring Bed Has one advantage That would make it The Favorite Bed, Even tho’ its qualities were Not quite so admirable. ‘That is the simple, Easy to manage Device for adjusting 1®@ to ‘The sleeper's weight. It is as Econemicolly priced as Any other bed. It At your Dealer's. $20 in Gold ‘For a Name. ra year we have been making an absolutely pure MOLASSES CANDY, with a honey flavor—we want an ap- Propriste name for it—sometbing new —that can be regixtered—and for the best name, with reasons for choice of the name, we offer a prize of $20 in gold. Conditions: Contest is open to Indies only. THE NAME must not contain more than 6 letters—and must be a word that’s not applied to other confections. It must imply the best quality. Contestant must state reasons for her selection of the name. If two Indies “should elect the same name and give equally good reasons for her selection the prize will be divided equally. All ‘responses must be recelved on or before Feb. 18—and should bear the name and full address of the contestant —in a sealed envelope, addressed to FUSSELL’S Name Contest, 1427 New York Ave. (7The award will be made by three Judges, z fe4-40d2w Get the Best— “TH CONCORD HARNESS," Rores Blankets and Lap Robes in great variety and at lowest prices. LUTZ & BRO., 497 Pa. Ave. N.W. n216d © (AdJoining Natioual Hotel.) Now Ready, YOUMANS SPRING STYLE DERBY. James Y. Davis’-Sons, Sole Agents, Washington, D. C., 1201 Penna. Ave. SPRING STYLES TOURIST HATS FOR LADIES. »fa6-1m24 Never saw a case’ of Rheumatism where " RHEUMATIC REM: EDY w that wasn't cured. It clieves the intense palu—goes right to t of the trouble—snd effects a permanent etre. Especially valuable in chronic case CF Unly 50e. for » large bottle. Chemists, (Scheller & Stevens, fonts. COR. 9TH AND PAL AVE. fe4-20d if THE BABY Is iS eo" BE sURE and use .hat old and weill-tried remedy, Mrs. Winsiow’s soins Syrup, for children teething. It soothes the child, softens the gum, allays alt pain, cures wind colic and is the best remedy for Ciarthoea. 25 cents a bottle. sel0-1y W. Irwin of Irwin, Pa., suffered terribly nding hundreés of dollars with the ings. . fter all else failed. No buffet should be without a bottle of Dr: Slegert’s Angostura Bitters, the South American appetizer and invigorator. Geo. EXCITEMENT ABATING. Feeling Occasioned by the Venezue- lan Message Subsiding. Advices from British Guiana up to the 22d of last month show that the excitc- ment in that colony caused by the recep- tion of the President’s message on the Venezuelan boundary dispute ‘had largely abated, and that while a temporary re- vival of ill-feeling had been caused by the report of the Senate committee of tne Monroe doctrine, there was a growing dis- position to discuss the entire question on its merits. For instance, the leading news- papers of Demerara say that while it is not possible for any direct assistance to be given to the American commission by the British government, it is hardly supposable that unnecessary obstacles will be placed in the way. To maintain a perfect neutral- ity will be the course to commend itself to the British government. It is when the line is defined to be against what Lord Salisbury and his advisers consider to be British interests, and steps are taken by ‘Venezuela to occupy territory on the Brit- ish side, that trouble, in the opinion of the Demerara newspapers, will commence. However, a good deal of time must elapse before such a combination of circumstances can result affording opportunity for rectify- ing and revising positions perhaps too has- tily assumed. The newspapers continue to insist upon the right of Great Britain to exact an in- demnity for the ,Uruan affair, regardless of the question of whether or not the ar- rested British offtcers-were on the Brit- ish or Venezuelan*side*of the line, and de- clare that it will not do to wait until the American commission Has decided for itself the location of the Iine before pressing this demand, so «that: if the home office listens to the colonial. contention on this point there still may ke reasons to appre- hend further trouble,‘for it is not con- ceivable that Pregjdent, Cleveland will per- mit without remonstrance the punishment of Venezuela for gsserting the integrity of her own soil. Toyehi the report of the Davis doctrine from the Senate committee on foreign relations, the newspapers of Geqgetown declare it amounts to the as- sertion of a protectorate by the United States over all of South and Central Amer- ica, but profess to believe that the Senate never will accept.the-report, which, they say, is “out-Clevelanding Cleveland.” —————e ee Expenditures of the District. Interesting information regarding the an- nual amount of money expended by the District of Columbia will be found on page 13 of The Star’s Almanac for 1896. 25c. per copy. For sale at all news stands and at The Star office counting rooms. ns es Tried to “Hold Up” a Store Keeper. An unknown masked man walked into Tice Ayres’ flour store, in the heart of up- town Philadelphia, Monday night. Ayres was balancing his daily accounts, and, pointing a revolver at him, the stranger de- [fhe ine money. Mr. Ayres grappled with the intruder, who in turn fired two shots at the storekeeper, neither of which hit him. The would-be burglar escaped. 2 Salvation Oil warranted to cure burns. the government of France that issues cir- culating notes, but a corporation distinct from the government, known as the Bank of France, which maintains a coin reserve of nearly 634 millions (of which nearly 385 millions is gold) against a note circulation of only 675 millions, and which as a bank of discount can protect its reserve by ra‘s- ing the rate of discount and other means, not available to a government that issues its own notes without any assets except revenue derived from taxation. Moreover the government of France does not permit the free coinage of silver, and maintains her full legal tender silver at a parity with gold precisely as the government of the United States maintains our silver. The Good Faith of the Action. There is no doubt of the_power of the United States to redeem greenbacks or pay any government obligations in any kind of money that it chooses, or even to re- pudiate the entire debt. A government cannot be sued or its assets attached. A government note or bond is a debt of honor, and the cnly assurance the holder of a government note or bond has that he will receive what he or the creditor who sold him such promise will pay what was bor- rowed, Is his confidence in the good faith of the nation which gave it. The cnly question for the nation which gave the weomise is not one of technical power to discharge the debt in inferior money, for it has that power, but one of honor and good faith. And even this ques- tion must be considered in@the light of the fact that the life of a nation is not limited like that of an individual to a few brief years, but will probably go on for many generations and centuries. It is certain that any nation will sooner or later come into straits where its reputation for good faith in the payment of its obligations will not only secure for it credit, which would have not ctherwise been granted, and credit, too, on terms far more advantageous than weuld have otherwise been possible. Whatever may happen I feel assured that the people of this country will see to it that every dollar of the money which they have borrewed and for which oblizations are now outstanding, all of which has been gold or its equivalent, will be paid in money of cqual value to that which we have received. The unwisdom of such a declaration as is proposed in the present condition of our nances; is all the more apparent in view of the fact that the Treasury has only about seven millions of standard silver dol- lars which would be available for green- back redemption. Of the 353 millions of sil- ver dollars in the Treasury, outside of the 13 millions held for redemption of ‘Treasury fotcs, which many persons seem to think belong to the government, 346 millions be- lcng to the owners of silver certificates of which only 14 millions are held by the Treasury. The Silver Seigniorage. The second provision of the Senate sub- stitute authorizes the issue of about 40 millions of silver certificates representing, {t 1s said, what would be the seigniorage or profit on the coinage of the silver bullion purchased under the act of 1890 at a cost of 124 millions after it shall have been coined. In other words, this provision directs the Secretary of the Treasury to issue certifi- cates falsely certifying that about forty millions of silver dollars coined from this 124 millions of bullion, have been deposited In the Treasury, when not one has been or can be deposited, for the reason that not one has been coined. And even these cer- tificates, representing the so-called seignior- age, are devoted by the provision to the payment of current expenses, and afford hot one silver dollar for the redemption of greenbacks. In view of the fact that under existing law the silver bullion in the Treasury pur- chased by the issue of Treasury notes un- der the act of 18%, is gradually being coined and the silver dollars used in*re- deeming and cancelling such notes volun- tarily presented for redemption in silver in order to obtain silver certificates of small denominations—18 millions having already been so used and the most of it within the past year, so that now only 137 millions of ‘Treasury notes are outstanding, and within a few years all will he thus redeemed and cancelled, and the real scigniorage covered into the Treasury—it is difficult to under- stand any excusé for the Senate provision requiring false silver certificates to be is sued, which would simply greatly i se the distrust by hastening by illegitimate means the utilization of the Treasury bul- lion in such a manner as could not fail to cast discredit en the government. The repeated declarations that the first provision of the Senate amendment author- izing the free and unlimited coinage of, pri- vate silver by the mints of this aountry at the ratio of 16 to 1 is the main feature of the legislation proposed by the Senate as a substitute for the House act, and that upon which reliance is placed to relieve the situation of the Treasury and restore con- fidence and prosperity to the country, that it becomes necessary to inquire on what grounds this expectation rests, Free Coinage. It Is evident that the free coinage of pri- vate silver on the basis of regarding sixteen ounces of silver the equivalent of one ounce of gold, when in every market of the world one ounce of gold will now buy 32 ounces of silver, cannot give the government a sin- gle additional dollar either for the redemp- tion of greenbacks or Treasury notes or for any other public purpose. It is private silver only that is to be coined, and every dollar coined from the silver brought to the mints is to be returned to the private owner of the bullion—two silver dollars for every dollar's worth of silver taken to the mint—and the Treasury is out to the extent of the cost of coining. The necessity of maintaining the coin redemption fund by the only means open—that of selling bonds to purchase coin —is not removed by providing for the free coinage of private silver. ‘Where, then, is the advantage to the gov- ernment and ‘the people who do not own silver bullion? It is replied that it will be found in the restoration of silver to its former place as a yoke-fellow of gold, by which this country will have both gold and silver freely coined and permanently con- currently in circulation as the money of the people, or in other words true bimetal- ism. If it be true that opening of the mints of this country alone to the free and unlimited coinage of private silver at the ratio of 16 to 1, would give this country the permanent ccncurrent coinage and circulation of both gold and silver as money, which {is the popu- lar understanding of the meaning of bimetal- ism, then such coinage would be welcomed. But what fs the evidence that the opening of the mints of this country to the free and unlimited coinage of private silver on the basis of regarding 16 ounces of silver the equivalent in coinage of one ounce of gold, would result in bringing gold as well as silver to be coined and permanently con- currently circulated when in every market of the world 22 ounces of silver is now the equivalent of one ounce of gold? Gold Would Be Withdrawn. It must be conceded that under free and unlimited coinage of private silver bullion after a sufficient time had elapsed to give an opportunity to get into full operation, there could be no material difference in market value between 371% grains of fine silver in the form of bullion before coinage and 371% grains of silver coined into a stand- ard silver dollar; for no owner of silver, here or abroad, would sell 371% grains of silver bullion materially less than he could dispose of a silver dollar coined from such silver, when he could have his bullion converted into a single dollar without cost to himself. This 1s exactly what is found to be the case under the free and unlimited coinage of gold. ‘The gold bullion required to mint a gold dol- lar is worth the same before coinage as after. It follows from this that gold would not be brovght to our mints for coinage on the basis of regarding one ounce of gold as the equivalent in coinage of only 16 ounces of silver unless such opening should change the absolute and relative vafue of gold and silver bullion in the markets of the worid from the ratio of 32 to 1, as now exists, to the ratio of 16 to 1; or in other words should practically double the value of sil- ver as measured in gold. For unless this miraculous change in relative value should be worked by opening the mints of this country alone, gold would not be taken to our mints for coinage, and even that al- ready coined would be withdrawn from use as money, and both gold bullion and coin- ed gold would become merchandise and suld and exported as such. In other words, we should be left with only silver as our me- tallic full legal tender money, and should to make 16 ounces of silver the equivalent in value or purchasing power of one ounce of gold, when now it requires 82 ounces of silver to be such equivalent. Those who favor such coinage must demonstrate that this marvelous change would be wrought by it before they can reasonably ask the people of this country to take the enormous risk of its failure. Not Bimetallism. I trust, therefore, that in the discussion which is now opened, those who advocate the adoption of the policy of opening the mints of this country alone to the free and unlimited coinage of silver at the ratio of 16 to 1, will not spend their time in mere assertions and declamagion about the im- portance of bimetallism, which the country understands to mean the permanent con- current coinage and circulation of both gold and silver full legal tender money, and the dfsadvantages of monometallism; but will present to the House and country the grounds on which they assume that such coinage would result in giving us such bi- metallism, rather than silver monometal- lism. For myself I never was more confident of any fact in finance than I am that such coinage of silver as is proposed would speedily drive gold from its use as money in this country and leave ts with nothng but silver, in other words, silver mono- metallism—precisely as such a policy has resulted in Mexico. I shall listen attentive- ly and with a receptive mind to any facts and arguments which may be adduced to maintain otherwise—for the reason that I heartily welcome the use of silver as full legal tender money in any manner and to any extent which will preserve the parity of gold and silver and give us both metals as our property money. By the action of our government in the past, by the declara- tions of both the great political parties in 1892, and by the enactment of a law with but few dissenting votes by the last Con- gress, we have declared our purpose to steadily seek the concurrence of a sufficient number of leading commercial nations in an international agreement for the free coinage of silver which would make per- manent full bimetallism possible. Under that law we are standing today in the atti- tude of asking other countries to co-operate with us in this movement. Let it be kept steadily in mind, however, while we are steadily looking to a solution of this problem by an international agree- ment—the only way in which in my jude- ment full bimetallism can be secured and maintained—that what we, as well as France, have—for France and the United States are maintaining tentatively preci ly the same coinage policy—is not gold monometallism, but limited bimetallism, under which we carry about 500 millions of silver, nearly 425 millions of which is full legal tender and abcut 575 millions is gold, but every Gellar, together with every dollar of our paper, maintained at a parity of value. The Silver Arguments. { While I do not intend at this tima to enter at any length into the discussion of the real question of issue—that as to whether 16 to 1 free and unlimited coinage of this country would, as is claimed, give us both silver and gold in concurrent cir- culation--yet I cannot refrain from briefly considering the arguments which have been presented to maintain this claim. The argument on which the friends of 16 to 1 free silver seem to more especially rest, 1s that the opening of our mints to such coinage will create an unlimited de- mand for silver at a fixed price of #1 per ounce—the price demanded by this ratio—and this would make the market price of silver bullion in every market of the world. This would be the case if it were true that free coinage by this country alone would create an unlimited demand for sil- ver at the fixed price of $1. The fallacy of the whole argu apparent when it is consid: 2 demand for silver by our mints alone would not be unlimited, but restricted to the de- mand of purchi of silver dollars, u that the price received by the owner of silver for each 3711-4 grains is not a fixed price, but what a Stamped standard silver dollar will exchange for, in the mar under fr nd unlimited coinaz who his argument accept the “fiat” idea that government stamps $1 is the exchange value to that amount, ¥* of its intri Value or its ‘redce: y such value—a theory which disgrace under our green- rience until redemption plished in 187. urd exaggeration ‘of of the bimetallic te, as held 'y tific advocates of ‘bimetailis which I concur, bas & of the advocates of 1 which I desire to refer. that where the unit i: sured in two metals at their commercial ratio at the time this ratio is fixed, then waen one metal begins to rise there is an increased demand for the other metal which teids to restore the equilibrium so long as S conditions of production of either metal remain substantially the same. But no scientific advocate of bimetallism ever held that this alternating demand could success- fully operate except within narrow hmits and when the coinage ratio had been es- tablish@i at the commercial ratio. It must be evident that the bimetallic tle is very weak when only a single nation has opened its mints, and that its power rapid- ly increases as the number of nations unit- ing in maintaining a common coinage ratio is enlarged. It is for this reason that inter- national free coinage of silver becomes the hope and safety of real bimetallism, while independent free coinage, especially at a ratio widely different from the com- mercial ratio, must inevitably lead to dis- order and silver monometallism. The Decline of Silver. Again it is contended that the sole cause of the decline of silver was the closing of the mints of Europe and of the United States to its free coinage, and that if the mints of the United States shall be re- opened immediately silver will assume its old relative value to gold. But do not those who present this argu- ment see that even if it be conceded that the sole cause of the decline of silver was the closing of the mints of Europe and of the United States to its free coinage, the remedy would be not the opening of the mints of this country alone, but the open- ing of the mints of Europe also—in other words, international free coinage. It is also argued with great confidence that the open mints of France alone main- tained the relative value of gold and silver at the ratio of near 15 to 1 for the first 74 years of this century, and therefore that the opening of the mints of the United States alone to the free coinage of silver at 16 to 1 would also change the commercial ratio of silver and gold bullion to 16 to 1, notwithstanding it is now 22 to 1. It it sufficient to say in reply that when France adopted the coinage ratio of 15! to 1 this was the commercial ratio of silver and gold bullion; that not only France but every country in Europe maintained sub- stantially the same coinage ratio, that dur- ing the firet 60 years of this century the uncon: vhate’ c the theor en adopie to 1 free annual production of silver never rose above 29 million ounces per annum; and that soon after 1865 the annual prod-ction of silver Legan to rise abnormally, reaching 55 million ounces in 1874, when not only France but the other countries of the Latin Union, to wit: Belgium, Switzerland, Italy and Greece, which had joined France in opening their mints to silver nine years be- fore, were forced to close them, and have kept them clored against the fres coinage of silver ever since. A Hopeless Undertaking. Surely what France aided by the other countries of the Jatin Union wes unable to do in the face of the rise in the annual production of silver from 29 million to 55 million ounces, and a decline of only 5 cents per ounce in the price of silver, it would be absurd to expect the United States could do single-handed in the face of a rise of the annual production of silver from 55 million ounces in 1574 to 160 millions in 1898, and a decline of 50 cents per ounce in its price. It is this abnormal increase in the production of silver in the face of a constantly declining price—indicating be- yond question such a change in the condi- tions of mining that has greatly redaced the cost of producing silver—that has been the chief factor in causing the remarkable decline of silver in the past “22 years; and unless these conditions of silver production materially change, it is idle to claim that if the mints of the United States could be opened to the free coinage of silver cn the Scott’s Emulsion of Cod-liver Oil and Hy- pophosphites. It possesses ina peculiar sense flesh-mak- ing, strength-giving ele- ments. There are plenty of cases where persons have gained a pound a day by taking an ounce of Scott’s Emulsion. basis of 16 to 1, the old relative value of silver and gold which existed before these new conditions came in, would be restored. The assertion so frequently made that the mere legislative suspension in 1873 of a law authorizing the free coinage of silver caused the decline of silver, when for 12 years prior to that time almost no silver had been coined by our mints for circula- tion, affords a most remarkable illustration of the potency of a persistent iteration of an absurdity. The only way in which the. closing ‘or opening of mints to the coinage of silver can bring about a rise of the metal is through a diminutien or an jacrease of the demand for-silver bullion. It 1s significant iz this connection to recall that the United States has used five times as much silver as money in the seventeen years since IS7S as it used in the firsi seventy years of the ex- istence of this government under the Con- Stitution. And it is worthy of note also as an indication of the comparatively small influence ot a demand for silver by the United States alone, that notwithstanding this country purchased between ISM) and 183 54 million ounces of silver per annum— substantially the American product and one-third of the product of the world,—yet after a temporary boom, silver began to fall more rapidiy than before, undoub for the reason that the small incre: price at first so increased the profits of; sliver mining as to stimulate production, more than ever. z The fact must not be overlooked also that while it is probable that the value of gold, which had declined somewhat under the large Californian end Australian Prog tioa from 185%) to 1865, and rose again as the production declined after 18¢ yet since 1890 the increase of production has been S118, greater than ever before—rising fro 000,000 In 187) to_$205,000,000 in 189 the probability that the production this year will reach $250,000,000, which is almost twice the production of any year of the Californian period. The persistency with which reference ts made to the fact that from 1834 to 1S73 our law made the coinage ratio of gold and silver 16 to 1—although in the last twelve years of that period neither silver nor gold was coined for circulation or used af money,—as if 16 to 1 was a Divine estabe lishment of a natural and permanent ratio, would be amusing if it were not so mis« chievous in {ts influence. The Changing Ratio. < the time of the discovery of America the commercial ratio of gold and silver was about 10 1-2 to 1, and the coinage ratio followed the commercial ratio. Then came the great increase of production of silver caused by the opening of the rich Mexican and South American mines, and the com- mercial ratio of gold and silver was changed about 1700 to about 15 to 1— the coinage ratio following, W Hamtl- ton made his investigations in 1792 he sup- posed that 15 to 1 was then the average commercial ratio, and consequer on his recommendation Congress fixed 15 to 1 as the coinage ratio. Nobody appeared to ask that the ratio of 10 1-2 to 1 fixed by the fathers of 14923 should be restored. In IS} the fathers of that day again changed the ratio to 16 to 1 because they found that in fixing the ratio at 15 to 1 in 172 they had slighUy undervalued gold, in consequence of which very little gold wa : to the mints to be coined. And the ratio at 16 to 1 in ISt4 It was for that they had undervalued silver sligh: £0 that v litue silver went to the mints to be coined after 184. Inde i ained even our fract er, which had prior to that ti f standard v. was being withdrawn ted, and to prevent this Congr. the weight of this silver. cording to a treasury report, there was y twenty millions of full legal tens In 15% rin er All this simply shows that under nd unlimited cotn- age not only is lue or purchasing power of the p pd coins determined by the commercial value of the metal, and that the coinage ratio must be substan- tially the © as the commercial ratio in order to secure the concurrent colnage and circulation of gold and silver coins, but also that it is futile to expect that the opening of the mints of only one country to the free comage of silver can materially affect the value of silyer. Mexico as an Object Lesson, We need not, however, rest the case on reason and past experience alone, for we have at our doors an object lesson of the results of 16% to 1 equal and unlimited coinage in Mexico. For years Mexico has tried free coinage. She avoided what is facetiously called “the crime of 187: Mer laws today permit the coinage of both sil- ver and gold at the ratio of 16% to 1, and yet not a dollar of gold is taken to her mints or is found in use as money. has only silver as her metallic mone is today a silver monometallic country. Notwithstanding she coins a large amount of silver—2) millions in 1803—for the reason that her coins have been for many years current in China, thus making her experi- ment that of 400 millions of people, yet Mexico's open mints and Mextvo’s demand for silver do not seem to have the slightest effect in raising the price of silver or pre- venting its fall. But I will not occupy the time of the House further at this time on this vital point—that of the possibility that of 16 to i free and unlimited coinage by this coun- try alone would give us in fact both gold and silver as our metallle property money —for, as I have already sald, it is the duty of those who urge such a policy to show beyond reasonable question that this would be the result before the nation can be rea~ sonably asked to take such a leap in the dark. The people of this country, in my judg- ment, will never consent to the adoption of any policy which will deprive us of gold and leave us a silver monometallic nation, —_——_—_-2.—____ HAS NOT DENIED ENTRY. Second Dispatch Bont for the Ameri« can Legation, It is deried at Constantinople that the porte has refused to admit a second dis- patch boat for the service of the United States legation. The porte does not con- test the right of entry, but contends that the moment for such a reinforcement ts inopportune. It nas been much remarked in official circles that since the vigorous actiom of the Ufited States minister, Mr. Terrell, in behalf of the Americun missionaries, he alone is mentioned in the court circulars as a guest ut the court dinners. The impression prevails in diplomatic circles at Constantinople that the United States and Great Britain way eventually unite in order to save the Armenians. —e—__-o-___ Trolley Cars Collide. Seventeenth and Arch street trolley cars ccllided in Philadelphia Moaday night. Bd- mund Hamill, motorman of the 17th street car, was killed. He evidently died from shock, as his body showed no marks. Sev- eral passengers were slightly injured. The cars were badly wrecked. os Public Schools, In The Star’s Almanac for 1896, on page 17, will be found interesting informa- tion concerning the public schools of the District. At all news stands and at The Star office. Price, 25c. copy.