Evening Star Newspaper, August 15, 1896, Page 8

Wi Moses Sans F st., cor. 1th =| Carpets and Rugs Must Be Cleared Out} Stock taking disclosed $25,000’s worth of surplus Carpets and Rugs. To get rid of these goods immediately we have cut prices in the most astonishing manner. Sale begins bright and early Monday morning on fourth floor. A deposit will secure any of the Carpets—and when paid for will guarantee their delivery.in perfect condition when you want them in the fall. Tapestry Brussels Carpets. duced from Gic. yard to Tapestry Brussels Carpet. 49C. duced from Te. yard to . ~52c. Best ‘Tapertry Brussels Carpet. Reduced from 8c. yard to... 59¢. Velvet Carpet. $1.25 yard to.. Body Brussels Carpet. from $1.25 yard to. Best Body Brus duced from $1.35 Smith's Moquette Carpet. @uced from $1.15 yard to.. Reduced 69c. 73C- 76c. 75C. Veivets. Smith's Best Wilton Reduced from $1.95 yard to Tie. Qc. and . Smith's Axminster Carpets. Re- duced from $1.50 yard to. goc. Bigelow Axminster Carpets. Re- uced from $1.75 yard to $1 and.. Wilton Carpets. Reduced from $2 yard to.. c Best Royal Wilton Ci duced from $3 yard to bce Rugs Reduced. Another large lot of Made-up Rugs has just been added to our SLs $1.15 $1.45 stock. We're hurrying them out at the lowest of low prices. Better et one. = Worth. For. Tapestry Brussela Rug, & ft. 3 in. by 10 ft. 6 In...... $25.00 $10.00 Body Brussels Rug, 10 ft. 6 in. by 13 ft. 6 In 18.00 Imported Axminster & ft. 3 in. by 12 ft... : 18.00 Bigelow Axminster Rug, 8 ft. 3 in. by 13 ft. 6 im...... 40.00 22.00 Storing, Hauling. Moving and Packing are specialties. Close at 5 p.m., Saturduys 1 p.m., till September 1. at W. B. MOSES & SONS. GAS 's now LOWER Now that the price of gas has been reduced every housewife should use it. The summer meals can be cooked with {t at much less expense—to say nothing of the time, trouble and labor saved. Come here for the Gas Stove or Range. quoting some remarkably low prices. Gas Appliance Exchange, 1424 N. Y. Ave. aul0-284 Painless Extracting <with pure gas or by applica- tion of ZONO to the gums...... Highest class dental operations ° by experienced experts at one- balf the charge of other first- class dentists. (7 Out-of-town patients supplied with artificial teeth in one visit. U. anl2-30,tf A Good Time To Have Photos Taken, now, ‘cause we're making our dainty “MANTELLOS” for only $2 dozen. And we promise they'll be ax good likenesses, | and be finished as well, as any photos you've | had us make. W. H. Stalee, 1107 F St., Buecessors to M. B. BRADY. aul416d We're Painless fillings, 75e. Very best tenth, Solid gold crowns, $5. Dental Ass’n, ° Cor. 7th & D Sts. Po OS FO -05- 4H 26 40-99 -1@ {It Whitens The Teeth Simply by removing the tartar 6 and cleansing them. That's $ why LISTER’S DENTI- FRICE is so widely used. 25¢. a bottle. Fw. Thom 0, $ P. SON, cn eS. PHARMACIST. 1354 iy eo o> ~~ tee a % naa Nothing to . ib Seseat host, Take” event isin. ec eet your feaxon than, ever before. having a Sem tee om! good light. Geo. F. Muth & Co., Clearing Out Shoes. We've got to get rid of every pair of Shoes in this stock before Mr. -Wil- fon returns from Europe. Prices like these will accomplish our object: Colored Canvas Oxfords, 98c. Canvas Oxfords and One-strap mS ‘Wilson's Retiring Sale. Slippers, in pink, light blue nd nile green.” Sizes aacolenes B and C. Were $3.50. Now...... White Canvas Oxfords, 98c. White Canvas Oxfords and Romeos, white kid trimmed. Were 8c. $8.50. NOW..cceeeeeeeeeeseeesseee, DOCe Misses’ Strap Slippers, $1.59. Patent Leather and Kid Strap Slippers, no heel. Just the thing for dancing. Were $2.25 and $2.00. @y 59 Now... Men’s $4 Russet Cong. Shoes,$2.25. Men's Russet Conzress Shoes. Sizes 6 to 9%. Reduced from pele 10" $2.25, WILSON, HIGH GRADE SHOES, 929 F St. N. W. aul4-60d Waweo’—”_~ CRREREEEESEEEESE OSES YOY jo! A ROLL POR OUR $3 HATVINGS! Everybedy knows that our quality of Mattings are RELIABLE—and when we offer them at the price the oubtfal grades sell for elsewhere— we KNOW that housekeepers will not be slow in availing themeelves of the chance to tave money. Every yard of Matting in stock is reduced in price. ORR CREDIT IS GOOD! AML carpet made and lala FREE— no charg> for waste in matching fig- [XEXRER REM ER EEE [XXRRRREEKEERE RAO ures. CROGAN’S MAMMOTH CREDIT HOUSE, §19—-S21—23 Seventh street n.w. auls-84d (KER EEEREEEERERARKS USE weeee Maurer’s RAT and ROACH PASTE, MOTH and INSECT POWDER. Buy it everywhere, but only MAU! FR'S,829 N.8th st.,Philadelphia,Pa. apl-156t We have called atten- What tion to our line of cheap summer reading but a About few times; however, the Cee Gs it an Ne rour time re Those = cuitdon drtatt thors—at price of Novels? u the “price of John C. Parker's, 617-19 7th St. N. W. aull-16d NO CURE NO PAY. Dr. GZARRA’S PRIVATD DISPENSARY. No. 619-621 Pa. ave. n.w., V ton, D. C. SPECIALTY—Ali chronic, nervous, Dlood and skin iscases, rheumatism, gout, catarrh, dyspepsia, rer, Kidney, bladder and urinary troubles, piles, stricture, cee restored. nod, 5 om usary to everybody ench evening, Free fom eto 8 sclck: ‘Hours, § to 1 am. 8 to 8 p.m. ray Hair A thing of the past when Nattan’s Crystal Dis- covery Is us-d. “Guaranteed to restore gray or foded hair to its natural color in 8 to 10 days— positively net @ dye. Stops the hair from falling Out, arrests dexdroff and makes the nicest dressing for'the hair ope can use. No polson. No sediment, No steins. Price, $1. ‘Trial size, 500. KOLB HLARMACY, SOLE AGENTS, 438 4TH ST. N.W. nt, express prepaid, to any part of the country on receipt of price. my7-tf Great Reduction In Hair. 1,00 Switches, 30, formerly $7.00. Switches, 80: formerly 5.00. Switeh 6.00, formerly 10.50. Gray Switches, 8. formerly 5.00. Gray Switches, 1.50, formerly 6.50. First class attendants in Hairdressing, ing, etc. poole irfy our “Curlette”” for retaining curl. S. HELLER’S, 720 7th Street N.W. 7-200 Wade & Butcher Razors. _Torrey Razor Strops. $2.00 W. & B. Razor, hollow ground. 1.50 W. & B. Razor, hollow ground. 1 Four-sided Torrey Strop. 1 Swing Strop. S. & A. SOc. Flat Stroy 25c. Shaving ‘ery complete lin Stone Hones, all sizes B. & s. Gitpners. s lowest prices. — dy21-178 ~ GOOD FOR WELL PEOVLE AND SICK ONES— Liebig Company Extract of Beef. ap25-s&th Isr a4 Reoma Pure Rye Whisky . In distilled especially for medicinal purposes, ant | fs highly recomr ended by the Tending siclane 418 7TH ST. N.W., ee Foner ahaa Sold only in quart cetntelatsG : ttles, $1.25 en ate ‘CESSORS TO GEO. RYNEAL, JR. REEVES. LE & CO., : my18-3m.14 1209 FB st. nw. a rem Antikolerine : iThe home & office —can be kept delightfully cool during this. < in el-ctric fans and to use instead of the tricity Is very Ittle compared with the comfert derived. "Phone us about It. U.S. Electric Lighting Co 213 14th St. ’Phone 77. ize 28. ai SAM ITS ALWAYS NEEDED. Every day you'll find a need for BE MISH'S FAMILY CEMENT. Nothing broken in the whole house that it won't me cept tinware. Nothing so for china and glassware, because it's not affected by heat or cold. 15c. a bottle. . W. BURCHELL, 1325 F STREET. i i { i i aul4-1id INGROWING NAILS Permanently and painlessiy cured. Our Bunton and Cora Shiek afford absolute comfort. Corns re- mov. 2c. Prof. J. J. GEORGES & SON, Chii ists, 1115 Pa. ave. Hours: 8 to 5:30; Sundays, 9to 12. auS-10d. (Tablets) Cures Diarrhoea, Dysentery an@ all sum- mer complaints. All druggists. Fifteen cents a vial. aud-Tin IF THE BALY 1S CUTTING TEETH BE SURE and u: that old and well-tried remedy, Mrs. Winslo Soothing Syrup, for children teethinj It soothes the child. softens the gum, all al in, cures wind colic and is the best remedy for a bottle. sel0-1y HARSH PURGATIVE REMEDIES ARE FAST Gi frg way to the gentle of Carter's Little Liver Pil they will cert please 5) GENUD TE oT Stegert the most efficacious stimulant to excite the appetite. Ask your drug- Tragedy at Lincoln, Neb. W. F. Eyeter of Chambersburg, Pa., was murdered last night at Lincoln, Neb. Fre. Vance and five women of the town are de- tained at the station as knowing .some- thing of the case. He was there with a party of prominent Pennsylvania capital- beuna er Ceppie Cres Oo inspect the’ mine. It is supposed he had taken an afternoon train for Cripple Creek until his body was found in an unfrequented part of town, with the skull crushed. Rob- Dery 1s supposed to be the cause. He was a directer of thé-R. and C. V..R. R. SHERMAN ON SILVER (Continued from First Page.) the problem may be. It so happens that at the coming presidential election there will be submitted to your judgment two such questions, one of which is whether any holder of silver bullion may deposit it at the mints of the United States and have it eyined for his benefit, and without cost to him, into silver dollars, each of the weight of 412 1-2 grains of standard silver, nine- tenths fine, and may tender them for any debt, public or private. The other question is whether in levying duties or taxes on imported goods we should only consider the revenue required, or whether, while raising the needed rev- enue, we should seek also to protect and encourage domestic industries; the one is called revenue tariff and the other a pro- tective tariff. Both the silver and tariff are vital questions of domestic policy, of equal importance, but I propose on this occasion to confine my remarks mainly to what is known as the free coinage of silver at the ratio of sixteen parts of silver to one of gold. This issue is thrust upon us by the democratic party, or, rather, by the Popu- listic branch of the democratic party. Best Standards of Value. Gold and silver coins are recognized by all commercial nations of the world as the best standards of value, as the measure of every article of desire, of everything that 1s bought or sold. These two metals not only measure all other things, but they measure each other. ‘Their relative value ‘constantly changes. Twenty-three years ago sixteen ounces of silver were worth more than one ounce of gold. Now thirty-one ounces of silver can be bought by one ounce of gold. This fluc- tvation of value cannot be prevented by law. It is beyond the reach of legislation. It is caused by the changing demands for ard the increasing supply of these metals frcm the mines. Both are necessary as money, silver to supply the daily wants of life and gold to measure the larger transac- tions of business, especially in exchanges with foreign nations. How to maintain the parity of the two metals at a fixed ratio has been, 1s and always will be a difficult problem, not only in the United States, but In the civilized world. It was one of the first questions to occupy the attention of American statesmen, after the adoption of the Constitution, and is now cne of the most pressing, after more than 100 years of national growth. Establishing the Ratio. In 1792 silver and gold were made the common standards of value in the United States at the ratio of 15 to 1, but this was because that then the actual market value of fifteen ounces of silver was equal to the actual market value of one ounce of gold. The greatest care was taken to ascertain this ratio by Thomas Jefferson, then Secre- tary of State, and Alexander Hamilton, then Secretary of the Treasury. These two €istinguished statesmen, who disagreed upon nearly all other questions, did agree upon the relative value of the two metals, and that both should be coined into money at that ratio. At that time neither gold nor silver was'| found in any considerable quantity in the thirteen states then forming the Union. The revolutionary war had been conducted with paper money, which became worthless, and the coins of Spain, England and other countries had been made a legal tender and continued so for many yeara after the adoption of the Constitution. When the new American coins were 1s- sued it was found that the abraded and worn coins of other countries filled the channels of circulation, and the new and bright dollars of the United States were ex- ported. This led to the discontinuance, in 1806, by President Jefferson of the coinage of the silver dollar, and after that date none were coined for more than thirty years. This order of Jefferson, I suppose, would be called by our populistic friends’ “the crime of 1806."" In the meantime France and other coun- tries adopted the ratio of fifteen and a half ounces of silver as the equivalent of one ounce of gold. To avoid these embarrassing changes England in 1816 adopted gold as the single standard in that country, and silver as subsidiary coin. Changed the Ratio. In 1834, during the administration of President Jackson and under the leader- ship of Daniel Webster and Thomas H. Benton, Congress adopted the ratlo of sixteen ounces.of silver to one of gold, by reducing thé number of grains in the gold coin. As silyer was thus slightly under- valued it was not largely coined. Silver could be coined in France at the ratio of 15% to 1, and the owner of silver bullion could send it to France and have it converted into coin at that ratio, thus receiving about 3 per cent more for his bullion than ff coined at the American ratio of 16 to 1. Gold became the only American coin in circulation, and the avowed purpose of the passage of the law of- 1834 was to make gold the standard. This was declared by the committee of the House of Representatives who had charge of the bill, who said in their report: “The committee think that the deside- ratum in the monetary system is a stand- ard of uniform value; they cannot ascer- tain that both metals have ever circulated simultaneously, concurrently and indis- criminately in any country where there are banks or money dealers, and they en- tertain the conviction that the nearest ap- proach to an invariable standard is its establishment in one metal, which metal shall compose exclusively ‘the currency for large payments.” Silver Made Subservient. In 1858, upon the report of Senator Hun- ter, when Pierce was President, and when all branches of the government were un- der democratic control, Congress reduced the quantity of silver in the fractional coins (half dimes, dimes, quarters and half dollars) more than 6 per cent, directed the purchase of the silver for their coinage on government account, abolished the law for their free coinage and made them a legal tender for $5 only, leaving gold still prac- tically the only full legal tender United States com. At this time the silver dollar had disappeared frcm the current coins of the United States and was practically and purposely demonetized. The purpose of this act fs thus stated by the chairman of the committee having the bill in charge in the House of Repre- sentatives: “We propose, so far as these coins are concerned, to make silver subservient to the gold coin of the country. We intend to do what the best writers on political economy have approved; what experience, where the experiment has been tried, has demonstrated to be the best, and what the committee believe to be necessary, and prepose to make but one standard of cur- rency, and to make all others subservient to it. We mean to make gold the stand- ard coin.” This, I suppose, would not be called “the crime of 185: Silver was practically demonetized by this act and the act of 1834. Democrats Formerly a Gold Party. It is certain that from 1801, when Mr. Jefferson became President, to the close of Buchanan's administration in 1861, the democratic party was a gold party, op- posed to silver and all forms of paper money. As I have already stated, Mr. Jefferson in 1806 suspended the coinage of silver dollars and it remained suspended. for more than thirty yearg The act of Congress of 1834 established gold as prac- titally the only coin in circulation. Gold coins were Benton’s “mint drop.” All democrats were then “gold bugs.” Sena- tor Hunter, in 1853, during Pierce’s ad- ministration, secured the passage of a law which reduced the silver in the half dimes, dimes, quarters and half dollars, making them subsidiary coins, abolished their free coinage and limited their legal terder to five dollars. The silver dollar was not mentioned, and practically was excluded from coinage or circulation, yet pow the democratic party, upon the de- mand of the populist party, and when sil- ver has fallen in market value to nearly one-half its former value, seeks to demon- etize goll and to establish silver as the sole standard of value. Silver Demoncetization in 1873. When the republican party came into power in 1861 by the election of Mr. Lin- coin it had to face a formidable rebellion. Geld and silver were alike banished from circulation and irredeemable paper money of all denominations, from 10 cents to $1,000 was substituted In place of coin. When the war was over the republican perty sought to restore specte payments as soon as practicable. In March, 1869, it pledged the faith of the nation to the Payment in coin, or its equivalent, of all bonds of the United States and to Tedeem the United States notes at the earliest practicable moment in coin, In order to carry out this pledge it be- —s THE EVENING STAR, SATURDAY, AUGUST 15, 1896-TWENTY-FOUR PAGES. Ee Oe came necessary to revise the various coin- ege laws of the United States. This was romptly and,very carefully done by a Ly ed in the resenrye Derermene while Mr. Boutwell was retary. It was thoroughly considered by the eé: of that department, and was printed an gubmitted to all persons in the United ‘States who were supposed to be familiar with the coinage laws. The bill, contain- ing sixty-seven: tions, accompanied by a mass of information that fills a volume, was sent to Gongress April 25, 1870, by Secretary Boutwell, and ites passage was strongly recommended by him. This bill omitted from the coins: of the United States:the silver dollar, precisely as was done in;1863, but provided for the coinage of the fractional parts of the dol- jar in acordanée with the act of that year. ‘This bill was pending in Congress for three years, was carefully considered in both houses, and spectal attention was called to the omission of the 412%-grain silver dol- ler, which was never in the bill at any stage, and the reasons for this omission given. It was. Yinally determined at’ the urgent request of members from the Pa- cific coast to insert among the silver coins a trade dollar containing 420 grains of standard silver, but this doflar was made, like the minor coins, a legal tender for $5 only. ‘There was but one yea and nay vote on the bill, and that was on the proposition t» repeal the charge made by the mint for the coinage of gcld. I voted against its repeal. The bil passed both houses and became a law February 12, 1873, by prac- tically a unanimous vote of both parties and was specially supported and voted for by the Senators and members from the silver states. This has been called the “Crime of and as the bill was under my charge in the Senate I was held to be the chief criminal. It was, in fact, a wise measure of public policy, carefully discussed and considered during three years. When we test the outcry against this act with the sober facts shown by official records, it appears simply ludicrous. The total number of silver dollars coined from 1782 to 1873 was 8,031,238, while the num- ber of trade dollars issued under the coin- age act of 1873, containing 7% grains more silver than the old dollar, was 30,965,024, and the number of standard silver dollars coined under tha Bland-Allison act of 1878 was 430,790,041, or 64 times the number Issued hefore 1878. it is strange that the very men who supported and urged this coinage law of 1873 and demanding the exclusive coinage of gold are the very men who now demand the free coinage of silver and denounce as “goldites” and “robbers’’ all those who be- leve in the coinage of both gold and sil- ver. It has been said that the dropping of the silver dollar in the coinage act of 1873 was surreptitiously done. This charge is shown to be false by the debates In Con- gress, and especially by the declarations of the men who now make the charge. Silver Men Now Gold Men Then. Sixteen months after the passage of that act Senator Jones of Nevada, in a debate in the Senate June 11, 1874, said: “I am opposed to any proposition, come in whatever form it may, that attempts to override what God himself has made for money. I believe the sooner we come down to a purely gold standard the better it will be for the country.” On April 1, 1874, he sald: ‘Does this Con- gress mean now to leave entirely out of view and discard forever a standard of value? And what but gold can be that standard? What other thing on earth pos- sesses the requisite qualities? * * * Gold is the articulation of commerce. It is the most potent agent of civilization. It is gold that has lifted the nations from bar- barism. “It is the common denominator of values. It makes possiblé the classification of la- bor and the interchange of commodities. Gold has intérveried in bargains made be- tween men since the dawn of civilization, and it has never failed to faithfully fulfill its part as the universal agent and ser- vant of mankind, * * * The value of gold is not affeeted by the stamp of the government.” i Senator Stewart of Nevada, in the same debate, on the 13th of June, 1874: “Sir, the laboring man and the producer is entitled to have his product and his Ia- bor measured: by the same standard of the world that measyres your national debt. * ©¢ * Give him such a standard; give him money as you require from him: You require it from the producer. You require from the Iaboting' man gold to pay the in- terest on yolt national debt, which is right, which’ cannot be avoided if you mean to savé national honor; but, then, give him the ‘sane money with which to pay that debt. - ‘“The question ‘will never be settled until you determine the simple question whether the laboring’ man’ is entitled to have a gold dollar if he earns it, or whether you are going to cheat him with something else. That {s the upshot of the whole thing. Everybody had to say that the la- boring man was entitled to a good dollar. That was fought over. They. will fight it over again, and the same party will win. There have been a great many battles fought agaii.st gold, but gold has won every time. Gold never has compromised. * * *Gold has made the world respect it all the time. The English people once thought they could get along without gold for a while, but they had to come back to i On June 1, 1874, Senators Jones and Stewart and all the Representatives and Senators of the silver states were urgent and honest in saying that gold was the best and only standard of value, but they changed their minds when the largely in- creased and increasing production of silver in Nevada and other states reduced the market value of silver below that of gold at the established ratio of 16 to 1. Then they wanted a market for their silver. They wanted to pay existing debts and obligations contracted upon the gold basis in silver, but took care in their con- tracts to stipulate for the payment of gold to them, and this has been and ts now the general practice in the silver states. When the coinego law of 1873 was enact- ed all of the states except those on the Pacific coast conducted their business upon the basis of greenhacks or United States notes, then at # discount of about 13 per cent. Neither silver nor gold was used in domestic transactions, but we collected our customs duties in gold coin and conducted our foreign commerce in gold, the money of the world. It was not until January, 1875, that the first step was taken to re- stme specie payments, nor did we resume until January, 18) The Fall of Silver's Price. During this period silver rapidly fell in market value below gold at the ratio of 16 to 1. Prior and subsequent to 1873 many changes were made in coinage by the lead- ing countries of the world. Germany in 1812 changed its standard from silver to gold. France, Italy, Switzerland and Bel- gium had in 1585 entered into a treaty call- ed the Latin union, to which other nations became parties, and by which the coins of each of these countries were received and paid out by ail of them. This important arrangement was first modified and finally alandoned, and gold became the standard of value in those countries, but in all silver was coined and largely used as a subsidiary coin precisely as in the United States. In anticipation of the resumption of specie payments the resumption act of 1875 prcvided silver coins of dimes, quarters and half dollars for the redemption of the frac- tional curreney then in general use in our country. ‘These Hew silver coins gave great satisfaction. "The¥ were limited in legal tender qualitiés t& $10. BlandsAllinon Act. At this time Mrs Bland of Missouri intro- duced ‘his bill’ forthe free coinage ‘of silver at the ratio $f 1% to 1 on the demand of the helders qf silver bullion. Silver had then declired: belaw thet ratio. One ounce of gold was worth'more than sixteen ounces of silver. The’ Bland pill, if it had become a law as it pésse@ the House, would have demonetized go! Such was not the pur- pese of Congriss:! When the bill came to the Senate an amendment Was‘tmade on the motion of Senator Allison, who changed the scope of the bill, ands authorized and directed the Secretary of the Treasury to purchase from time to time‘silver bullion at the market price not less*than $2,000,000 nor more than $4,000,000 worth= per month, and cause the seme to be coined into silver dollars as fast as purchased. It also provided that any holder of the ccin authorized by that act might deposit the same with the treas- urer of the United States in sums not less than $10, and receive certificates therefor of not less than $10 each, and that the coin deposited should be retained in the treasury for the payment of the certificates of the demand. ‘This bill so amended passed both houses. It was known as the Bland-Allison act. {t greatly added to the difficulties of re- sumption, and for that reason was vetoed by President Hayes, but became a law over his veto. Under its provistors the United States pur- chased over 201,000,000 ounces of silver at the cost of $308,279,200. It was hoped that this enormous purchase would arrest the decline of silver, but in spite of it silver steadily declined in. market value, and at the present price the loss to the govern- ment on the purchese of silver under this act amounts to over $100,000,000. The Sherman Act of 1890, ‘When Congress met in December, 1889, there was a strong desire in both houses to utilize silver as legal tender money under corditions that would not demonetize goid. As the result of long discussions in both houses and after a conference between them, a bill was passed July 14, 1890, by which the Secretary of the Treasury was directed to purchase, from time to time, silver bullion to the aggregate of 4,500,000 ounces a month, at the market price, and to issue, in payment of such purchases, treasury notes of the United States, which were made a legal tender in payment of all debts, public and private, and were re- deemable by the Secretary of the Treasury in gold or silver coin at his discretion. This measure, it was thought, would ar- rest the decline in the market value of sli- ver, and enable the Secretary to maintain the two metals on a parity with each other at the ratio of 16 to 1. But the market value of silver continued to decline. The government purchased under the act of July 14, 1890, 168,000,000 ounces at a cost of $156,000,000. ‘This proved to be an expen- sive experiment, and the act was accom: panied by the following declaration, made @ part of the repealing act: “And it is hereby declared to be the poll- cy of the United States to continue the use of both gold and silver as standard money, and to coin both gold and silver into money of equal intrinsic and exchangeable value, such equality to be secured through inter- national agreement, or by such safeguards of legislation as will insure the mainte- nance of the parity in value of the coins of the two metals and the equal power of every dollar at all times in the markets and in the payment of debts. And it is further declared that the efforts of the gov- ernment should be steadily directed to the establishment of such a safe system of bimetallism as will maintain at all times the equal power of every dollar coined or issued by the United States in the markets and in the payment of debts.” This declaration made by Congress and approved by the President at a time when the public mind was centered upon the silver question, is a wise statement of pub- lic policy that ought to be acted upon with- out regard to party divisions. This bill passea a House of Representatives fresh from the people by the vote of 289 yeas and 118 nays, and the Senate by the vote of 43 yeas against 32 nays. This act was not a party vote, but it is, I believe, the expres- sion of opinion of a majority of the two great parties of the country. And here, fellow citizens, we ought to stand. I appeal to democrats and republi- cans alike. We are all interested in having a sound and stable currency founded upon gold and silver. We cannot by law fix the value of either metal or coin or of any of the articles that enter into the wants of life. The great law of demand and supply effects the value as it does iron, copper or zinc. All have fallen in market value by means of new discoveries and improved methods of production. Silver Bought by the Government. I have here a statement of the director of the mint, dated July 21, 1895, showing the amount and cost of silver bullion purchased under the acts of 1878 and 1890, and its value at the present market price, showing a shrinkage of over $145,000,000. “Hon. John Sherman, Mansfield, Ohio. “Sir: I have the honor to state in reply to your letter of the 15th instant that the eggregate amount and cost of silver bullion purchased under the act of February 28, 1878, and July 14, 1890, was as follows: Fine ounces. Cost. 291,272,018.56 $308,279,260.71 168,674,682.53 $155,931,002.25 Totals...... 459,946,701.09 $464,210,262.96 Worth at today’s market price for sil- ver, namely $0.69212 per fine ounce, $318,- 838,310.75. .ors in purchase, $145,871,952.21. “Respectfully yours, Ei ¥ youth. E. PRESTON, “Director of the Mint.” We had July 1 last in actual circulation among the people of the United States $1,509,725,.200, as stated by the report of the Treasury Department, which I will Act of Febru- ary, 1878... Act of July 14, 1800. ..ese50 trine of the populist and the anarchist, Sait 3 1a an eingctcupesition to the trati- policy of ¥ Jefferson, Andrew democratic party. Injustice to Oreditors. When we contemplate the great amount of debt and credit that is unavoidable in @ vast but new country ‘like ours, we nat- urally shrink from any measure that will either rob the lender or do injustice to the borrower. It is impossible to estimate the wrong and injustice that will be done to creditors by the scaling of nearly one-half cf debts due them. The very threat to do it will lead to the prompt and harsh col- lection of debts before free coinage can be- come a law. I am advised that already debts that would have remained uncalled for have, in fear of such a law, been en- forced. It is certain that before a free coinage bill can become a law the wide distrust by the pending of such a measure will lead to the rapid collection of debts, the sacrifice of property and deepen exist- ing financial difficulties growing out of in- sufficient revenues for the national, as well as for many state governments. It is sometimes sald of credi! are “bloodthi Shylocks,”” “bloodsuckers.”” “extortioners. that there are among money lenders some men who merit these epithets, but the great bedy of the creditors of our country are amorg the thrifty, industrious and in- telligent men and women of every com- munity. One great body of creditors here is the 970,000 Union soldiers, their widows and orphans, who are creditors of the United States to the amount of over $140,- 00,000 a year for services and sacrifices in the Union army. It would be an act of perfidy and mearness beyond expression for this great country to pay them with money of less purchasing power than gold coin merely because the overproduction of silver in the United States has reduced the market value of silver bullion contained in a silver dollar. To take advantage of this Gecline in order to reduce the value of th pittance to these rensioners is worse than to rob the graves of the dead. There is another class of creditors that the free coinage of silver will greatly in- jure. It is the depositors in savings insti- tutions and kindred c-ganizations, who, ac- cording to official statistics, number ne: 5,000,000 people, and whose deposits amount to more than $1,500,900,000. ill you cheat them by reducing the value and purchasing power of the dollars they have deposited? Free coluage will also wipe out nearly one-half the value of life insurance which provident people of the United States have paid to secure in case of their death some support and protection to wife and chil- dren. It will affect injuriously the multi- tude of clerks and employes who depend upon monthiy pay, and will reduce the purchasing power of all salaries of officers and employes in the public service of the United States 2nd of every state, county, city or township in this broad land. Injustice to the Wage Earner. But by far the greatest injury resulting from the free coinage of silver will fall upon workingmen. Their wages are now based upon money of the highest value, upon gold coin of standard value. Under free coinage of silver the value of the silver dollar will fall to 53 ceuts in gold, or, as I have already said, the hundred cents of the gold dollar will be worth 194 cents of the silver dcllar. With free coinage of silver, every work- ingman ought to demand enough silver for his daily wages to be equal to the purchas- ing power of his present wages in gold. The struggle between workingmen and em- ployer will then commence, and no one knows better than the workingman how difficult it is to get an advance in pay. We have strikes and strife enough now, when the workingman gets his pay in gold coin or its equivalent, but what will be the con- dition when he is paid in cheaper money of the same nom:nal amount, but of less purchasing power? Every sentiment of justice will be on the side of the working- man in his struggle for good money or in- creased wages in cheap money. Gold Dollar the Best Dollar. Of all the evils which a government can inflict, none can be greater than cheap money, whether of coin or paper. That dollar is the best dollar that buys the larg- est quantity of food and clothing. That dollar is the gold dollar, for it buys more read: 4 food and clothing than any other dollar, Amount In circulation July 1, 13 og4gg | 8nd will also buy a allver dollar for £ Soaaed dive: Wollase: 52,175,998 | cents if the coinage of silver is made free Subsidiary silver. 50,998,805 | at the ratio of 16 to 1 of gold. Experience Gold certificates. 42,820,759 | has shown that the United States can Silver certificates. 881,250,509 |" make the dollar buy as much as the gold Treasury notes, act |. dollar, but it can only be done by the gov- 1890. 95,217,361 | ernment buying silver bullion as needed United States notes. - 225,451,358 | and coining it into dollars on government Currency certificates, act June account. This has been tried. ‘8, 1892. + ,81.040.000 Every country of Europe, except possibly National bank notes. +__215,831,927 | Russfa, republics and monarchies alike, Fo en | Maintain the gold standard and silver coins Total ~ $1,509,725,200 | at parity with gold at even a less ratio We had -'co at that date $684,519,981 in| than the United States, and now Russia the treasury, mostly gold and silver, held for the redemption of United States notes and silver certificates, as follows: Gold coin.. $111,803,340 Standard silver dollar: 878,614,043 Subsidiary silver. 15,730,976 Gold certificates. 497,430 Silver certificates. 11,358,995, Treasury notes, act July 14, 1890. 48 34,485,919 United States notes. 121,229,658 Currency certificates, act 8, 1872. woes 150,000 National bank notes. 10,668,620 Total .. eS ++ $684,519,981 All these forms of money have been maintained by the government at par with gold, and they travel the whole world with- out diminution of their purchasing power. Though silver bullion has fallen nearly one- half its former value, yet we have used it and maintained silver coin made from it at paritv with gold at the ratio of 16 to 1. Threatened With a Silver Basis. But now we are brought face to face with a proposition which, if agra2d to, will make silver the sole standard of value for all debts and credits, for the wages of labor and the purchase and sale of prop- erty. The democratic party at its recent convention at Chicago edopted a resolu- tion in favor of the free coinage of sil- ver at the ratio of sixteen parts of silver to one of gold. We know that in the United States and in all countries in the world thirty ounces or more of silver can be purchased by one ounce of gold. With the free coinage of silver gold will be de- monetized. Nothing can be =nore certain than that the cheaper money only will cir- culate. The United States has thus far main- tained Its silver coins at parity with gold coins only by {ts exclusive monopoly of coinage and by limiting the amount, but with free coinage of silver there could be no limitation. Silver bullion in every form will be pressed upon the mints and with the mandatory duty of free coinage, silver dollars will soon fill the channels of cir- culation and the gold dollar will be hoard- ed or will be qioted and sold as a com- modity at about 194 cents of the silver coin. Silver will stand as the par of value and gold will be quoted at its commercial value. Result of the Coinage of Silver. Let us contemplate for a while the inevi- table result of the free coinage of silver even if I repeat what I say. It would violate every contract for the payment of money made since January 1, 187). The resumption act, which went into operation on that day, provided for the payment in coin on demand of all United States notes presented for redemption. All forms of money whether of silver or gold, or paper, were then maintained at par with each other, and have been so maintained ever since. During all this period, gold and sil- ver coins at par with each other have been the standards of value of all loans, con- tracts or purchaseg and the faith of the United States was pledged for their main- tenance at parity with each other. Although silver bullion declined in mar- ket value, the coins made from ft have been kept at par with gold coins at the legal ratio of 16 to 1. But if the free coin- age of silver is authorized, then the mar- ket value of silver bullion becomes the standard for payments on all contracts made in the past, the present or the fu- ture; 412% grains of standard silver bul- lion, worth now 53 cents, can, with free coinage, be coined into a dollar upon the demand of any holder of such bullion. ‘This dollar 1s delivered to thé owner of the bullion, and is not supported by the fiat of the government. The government does not undertake to maintain its relative value with gold. The government stamps it “This Js a dollar.” Its purchasing power is 53 cents, but it debt-paying power is one dollar. It is to be @ legal tender for one dollar of debt, but in the purchase of any article it is worth only 53 cents, for the seller of the article can fix his price according to the kind of money offered. It is the doc- has hoarded over $400,000,000 of gold in Preparation for the gold standard which she will adopt. We have now in the treasury belonging to the government over 379,000,000 silver dollars, represented by certificates, and sil- ver bullion costing over $188,000.00) in treasury notes, in active circulation and maintained at par with gold at the ratio of 16 to 1. The free coinage of silver is an in- vitation not only to American miners, but to all miners or holders of silver in the world, to deposit their silver in the mints of the United States, and to receive in ex- change therefor a silver dollar for every 412 1-2 grains of standard silver deposited. But that silver is worth in the market only 53 cents. . Why Pay Double the Market V Why should we receive this bullion from the owners of silver mines at nearly double its market value, whew we have such a vast heard in the treasury, which we hold with difffculty at par with gold? The only object ané effect of this measure will be to degrade the dollar. to lessen Its purchasing power nearly one-half, to enable debtors to pay their debts at fifty-three cents for a dollar, and to cheat the public creditors who hold our bonds. If this policy should be adopted the United States will take its place among the nations of the earth as a bankrupt, clos- ing Its business at fifty-three cents on the dollar. Robbery to Pay Bonds in Silver. There is another element of meanness in this free coinage of silver. The United States has always paid its bonds in gold coin or its equivalent. In the darkest hours of the civil war we stipulated to pay our bonds, prircipal and interest, in gold, or its equiva- lent. All of the war debt has been paid in this way. A portion of it was paid by the sale of bonds bearing a lower rate of in- terest, but we exacted from the purchasers of these bonds gold coin or its equivalent, even while our notes were below par in coin. About $847,000,000 of these securities are now outstanding, of which 000,000 was scld by this administration, and paid for in gold coin. It is one of the objects of those who advocate the free coinage of silver to force the government to pay these bonds in silver coin reduced in value. It is harsh to express this opinion of a measure favored by many good péople, but I cannot regard ft in any other light but as both a fraud and a rebbery, and all the worse if committed by a great, rich and free people. A cftizen who should commit such an offense ‘would be runished by the courts or denounced kis dis» honest, but a nation liké ours is beyond the power of any tribunal but consckence and ‘Preserve the Nation's Honor. Now, fellow-citizens, I have said all I desire to say at present on the free coinage of silver. I have the confident hope that the great body of republican and democratic parties, representing the conservative ele- ments of our people, will stamp their re- buke upon this measure of infamy and thus rreserve intact the honor, the credit and glory of our great country. This matter of the free coinage of silver ard the degradation of the standard of value involves not only questions of money, but of honor and good faith. When their honor is involved, the people never fail to respohd. They have complied with every promise and paid every debt contracted since the organization of the national goy- ernment as it became due. They have pa four-fifths of the debts contracted during the civil war, and the prospect was hopeful that all of it would be paid before the close of this century, but this, reversing our standards of value has, like the fire bell at night, startled and alarmed our people. Let us settle it by following the action of Washington, Hamilton, Jefferson, Benton, Hunter, Lincoln and Grant; let us maintain silver and gold at par with each other at the legal ratio of 16 to 1 until a conference among nations can prescribe common standards of value. In the meantime let no ‘ct be done, no policy be adopted, no ex- pedient resorted to that will tarnish the honor of this great republic. ne. 1 MUSIC IN THE MOUNTAINS Washington People at Fauquier White Sulphur. A Round of Social and Musical Events to Keep the Summerers in a Happy Frame of Mind. Correspondence of The Evening Star. FAUQUIER WH:Tz SULPHUR SPRINGS, August 14, 1996. This popular and healthful resort, situated among the hills of the Blue Ridge, about seven miles from Warrenton, is replete with historic and scenic Interest. As in the g00d old days “befcre the war,” when communi- cation with Washington was had by stage coach, instead of rail, as is now the case, this place is very popular with Washing- tonians, and a large percentage of the guests hail from the capital city. The season is at its height, and the “ folks” are largely in evidence, making things very lively. Dancing is indulged in morning and evening, with a “german” every Tuesday night, and this paramount amusement is varied by drives around the spacious grounds and to Warrenton, enter- tainments and tournaments Drinking the Water. A favorite walk is down to the spring, and much amusement is afforded the ol ‘young der guests by the wry faces made by a 1 vice, cn his or ber first taste of the sulphur water” Two central figures at the hotel re jovial Dr. Bischoff, the celebrated blind organist of the First Congregational Church of Washington, and his young and pretty bride. This genial couple, who are tinishing their honeymoon trip here, -have made themselves extremely popular “and are al- Ways ready and willing to contribute thelr musical skill for the entertainment of their fellow guests. Last Tuesday a genvine country tourna- ment took place on the terrace in front of the hotel. Tne knights, in brilliant cos- tumes, gave some very fine exhibitions of riding. Sir Knight 0. fH. Olinger of Routts’ Hill was credited with the greatest num- ber of ring= and the fastest time, and at the coronation ball held in the evening in the spacious ball room of the hotel had the pleasure of crowning Miss Wrenchaw of Baltimory Gala Day at Warrenton. Yesterday was a gala day in Warrenton, and many of the guests drove ‘© the nearby town. The races in the afternoon attracted fully 1,500 people from the town and surrounding country, and were exciting enough to sult the most exacting. In the evening a concert was given in the town hall, under the management of Mr. G. L. Fletcher and Miss Addie Yates, for the benefit of the Baptist Church. It was largely attended by an aud compored of Warrenton’s best people and many Washingtonians who are summering in the immediate vicinity, bes those from the springs. The services of Professor Bischoff were called in ta furnish the ertertal and he arranged the following art Program, which was enthusiastically celved: Z Masic and Fan, 1. Caprice, Woilenhaupt, Dr. J choff. 2. Salve di Faust, Mr. Douglass G. ler. 8. R “Bobby Gaylor’s Btory of W and dramatic imitations, Mr. Guy lins. 4. Grand Aria—I Purita ai Mra. J. W. Bischoff. 5. a Murmuring Zephyrs, Jensen; b. Gavotte in G, Bischoff, Dr. J. W. Bischoff. 6. Hearts ight, Gilchrist, Mr. Douglass G. Miller. Reo- itation, “Cassius Inciting Brutus Against Caesar” and “The Other One Was Booth,” Mr. Guy V. Collins. § Summer Chamin- ade, Mrs. J. W. Bischoff. 0 Revitatton, “Horace Greeley’s Ric Pla>ery and humorous imitations of Stuart Rolson, Mr. Guy V. Collins. 10. a. Katle—Eclio sone, Bischoff; b. Goodnight, Sweet Dreams, Ri choff, Mrs. J. W. Bischoff. 11. Ferever and for Aye, Marston, Mr. Douglass G. Miller. 12. Concert varitations—When You and 1 Were Young, Maggie, Bis:hof, Dr. J. W. Bischoff. 13.’ Grand éuet—Paul and Virginia, Masse, Mrs. Bischoff and Mr. Miller. All of the numbers were deeply appre- ciated and heartily applauded by an a dience of unusual intelligence and refin ment, encores being persistently demanded. Both Mrs. Bischoff and Mr. Miller were in splendid voice, Mrs. Bischoff displaying @ rich soprano, full of delicate shading and technique, and Mr. Miller a masterly tenor of great range and volume. It ts almost needless to say that Prof. Bischoff s instru- mental selections were rendered with the same painstaking care and artistic com- pleteness that marks al! the work of th Sreat artist, and he was recalle? again an again, particularly upon the rer of some of his own beautiful comy Mr. Collins showed great versa his selections, and made an extrem: ble impression, being forced to respond to sev= eral encores upon each appearance For tomorrow afternoon a ball scheduled between the Warrenton ni one from the Columbian University letic Club of Washington. Grand Concert. The next things in order to which those at the Springs look forward with pleasure are a concert on Tuesday evening next by the orchestra of the Grand Hotel, assisted by Prof. and Mrs. Bischoff, in the ball room of the Grand, and a recital at an early date by the inimitable Poke Miller. Among the Washingtonians registere@ at the Grand Hotel at present are: W. 1. Mat- thews, wife, daughter and son, Dr. A. A Hoehling, M. C. Hazen and wife, Bessie Hoehling, Dr. 3. V wife, Abbie Langley, Mrs. M. Mrs. E. W. Jennings, Mrs. W. Miss and Riseh and Miss Cortina, W. E. Herte: . Fryer, W. H. Adams, FE. Kerry, Douglass G. Miller, W. RB. Rowzie, J. 4. Wt son, J. A. Dean, J. G. Jones, Mra. Jus Miss Ida G. Carson, Miss M. Hulse. Mrs. M E. Hulse, J. R. Porter, Guy V. Collins. Jno L. Mills, Jr, and the Misses Mills, daug ters of the propriet > = City Mcknames, From the Roston Journal, Washington, the city of magnificent dis- tances; Pittsburg, the fron city; New H. y (the the city of elms neme ha: m1 Chicago); the world dianapo Cincin titres be Rom th dx nt Aberdeen, s, the railre the city of oaks; © London, the modlerr the monumental cit city; Beston, the Brooklyn, the city Little Paris (the name is come’ e garden cit vylon; . Louis, of the vd universe; hub of churches; Lrussels, to Milan); New York city tha Detroit is known as the city ef t Lowell as the city of spindles, Boston, the city of notions, the Puritan cit aly of culture, the modern Athens an) hub of the universe; Pluladelphia as Wrotherly love and Quaker ruland as the fore the flower | flour city, Hanmbal as the bluff city, falo as the queen city of the burg as the smoky city, Keokuk as gate city, Cincinnati as the q “ity the we ft «st, Nashville as the city of rock Louisville as fall cit ——se- - A Legitimate Kick. From the Indfanapolis Journa “What is that fellow raving so for?” asked the tourist. “Missed the midnight train last nicht, explained Rubberneck Bill. “Well, well! I have seen men ewe cavort for five minutes or £0 over and sing a train, but he is the first one T ever knew to be it ten hours after the train had gone.” “He has mighty good reason, my friend They were more’n $5 bullion and dust on that thar ver A Propes Reficction. From the Detroit Triluhe. “[ was much interested,” remarked the young lady canntbal, “in what mis- sionary told us today about the burning of the early Christians.” “Ah, yes.” rejoined her steady company, “they have had pretty bum cooks in those day