Evening Star Newspaper, August 18, 1896, Page 9

THE EVENING STAR, TUESDAY, AUGUST 18, 1896-TEN PAGES. COINAGE PROBLEMS —— Arguments on Both Sides of the Silver ; Question. THE MATTER OF REPUDIATION A Correspondent Discusses Senator Sherman’s Position. BULLION ANDCOINAGEVALUE since inv-stigating this matter I have my mind respecting the use of as a standerd,” writes Mr. Thomas G. Fensey to The Star. “The history of gilver as a metal has indicated for two hundred years and more a slight decline in yalue up to 1873; but not of sufficient con- sequence to interfere with its use as one of the standards. It was found in 1873 that Germany hai replaced the silver standard by that of the gold standard. The leading and best nations of the world had become gold standard uations, many of them using silver to its utmost capacity. ©The double standard, under present con- Gitions, would mean a single standard of ‘silver in a short time, putting us on a par with Caina, Mexico and similar nations. “While it is rue the United States in 1873, by an act of Congress, suspended the coin- ge of silver, it is not true, as alleged, that Silver coins ceased to be money. “Yhe production of silver bullion from AS74 lo INTS averaged $38,572,000, while the annual average for sixteen years preceding Was only $11,512,500. From 1579 to 1889, a period of eleven years, there was an annual averaxe of 349,508, 2. From 1890 to 189, @ per.od of four years, there was an annual average of $76,280,750. It will be observed by the best staustics obtainable that when- éver one of the precious metals becomes fore valuable in another country it is ex- Ported and bought up by speculators as under the laws of trade, which state of af- fairs must always exist in all civilized na- tions. “The propositiow of our silver friends to restore silver as a standard of value means s:mply the introduction of debased metal as Money, when the present intrinsic value of Silver on the ratio of 16 to 1 is only 52 or 53 ents on the dollar. It will not to do intro- Guce the greenback theory, as that is only @ promse to pay, and not a payment. If we had the power to say to the world, which We have not, you shall take this ailver dol- Jar on the ratio of 16 to i, that would be in the nature of dictation and conquest, and who will contend that wé have such a Tight? The Constitution of the United States, article 1, section 8, says: ‘Congress shall have power to lay and collect taxes, etc. to coin money, regulate the value thereof and of foreign coin.’ Arguments of Silver Men. “Mu-h has been said to me by respect- wealthy men since this conten- Sble and The man who keeps up with the procession nowadays must be strong enough to stand long, forced marches. This is a busy world we live in, busier than it ever was before, in any other age, and this is the busiest country in the world. The country is full of ambitious, ener- getic, strong. brainy men, each of whom is trying to lead his own particular pro- ‘cession. If his body fails, or his brain fails the man must fall out of the ranks —must lose his poses tion—must, perhaps, make the rest of tae journey in an am- malance. The road to suc- = cess is full of strag- Ee. fall of those who—because they neg- jected their health—could not keep step— had to drop from the front rank to t second, and from the second io the third, fintil finaily they were left behind alto ther. A man can’t succeed in war or in uisiness, or in any other undertaking, un- less he has health to c: im forward and to sustain his efforts. When he begins to Jose health and strength and vitality, he be- ins to lose his value in the world. He loses ue power of accomplishment, and so the power of earning. 3 ‘A man’s health is the most precious thing hhe can possibly own. Every man who is Yosing health, who is ‘‘run-down,”’ who is Hervous and weak, who is losing flesh and sleep and appetite, should heed the danger signals while yet there is time, and should begin immediately to take that most won- Gerful of al! invigorating blood tonics, Dr. Pierce’s Golden Medical Discovery. It is the medicine of all others that will build ‘ap wasting strength; that will give flesh ; that will cure nervousness and sieepless- ness ; and that will bring back the failin, Strength of brain and body and nerves. tricky dealer may offer a substitute, but thing else is “just as are It is sold yy all good druggists, and fuil information cerning it may be obtained by address- je the World’s Dispensary Medical Axso- giation aes P — ex ROOFING. Improvements patented 1890 in the U. S., . Canada and Europe. FIRE PROOF—Proof against sparks, cinders, brands, etc. STRONG -A heavy canvas foundation, LIGHT Weighs but 85 Ibs. per roo sq. ft. whem laid complete. FLEX:BLE Contains no coal tar, and retai itely its leather-like pliability an zhness PPLIED— Requires no kettle or other sive apparatus. Can be laid by nt workman. Asdestos Materials, Liquid Paints, Steam-Pipe ané Boiler Coverings, Steam Packings, etc. sta ESCRIPTIVE LISTS AND SAMPLES FREE BY MAM W. JOHNS MFG. CO., 87 MAIDEN LANE, NEW YORK, penitent Ce rad emucaeo DIDO DBI BON) —e) = S i MIX For Pipe and Cigarette 20Z. Sack 10 Cents. Cigaretie paper with each cz Back. OO e. tion has arisen about what has been ac- | dcllar, not altering the present price of sil- complished by silver for this nation, but they failed to introduce in their arguments anything that applies to the question now at issue. The argument that by the sus- Pension act of 1873 silver was so injured As to place it in the same light before the world as the pardoned criminal 18 not material. It is sald by many of the debt- or class and many of the unemployed that the free and unlimited coinage of silver weuld remedy ,all the ills that have exist- ed for the past four years, and to sup- Port that proposition they point to the good times we had during the late civil war, when from first to last. we had to maintain 2,000,000 soldiers, who were paid in greenbacks. In consequence of the in- flation cf panes: money of that period much hardship was inflicted on the wage- earner, as wages are always the first to come down and the last to go up. But pre- suming that a similar inflation can be produced by the silver standard, how will those In need of money obtain it? The government will not need supplies for an army. these people who now need it so much cannot get it unless they have something to give for it, and the benefit will inure to the mine owners principally, and to a few additional operatives. is this fair (admitting conquest to be right, which I do not,) to aliow the mining interests of the United States, which are sald to be less than the dairy interests of Iowa, to dominate all others? “On the Ist day of August, 1896, the treasury of the United States contained ‘379,852,244 stardard silver dollars and $16,- 004,145 in subsidiary coins, making a total of $395,856,389, which is ‘now supporting the present metal standard by the circula- tion of silver certificates, showing very clearly that silver is now in use in the United States to its fullest extent as money. “The attempt to use a product of a fluc- tuating value for a standard has always failed. Wheat, corn and farm produc are subject to fluctuations by reason of the immediate surrounding conditions, such as railroad transportation, labor-saving ma- chinery, failure of crops, ete. As to the currency of the United States, it is the best in the world. The public debt state- ment on the Ist day of August, 1896, shows that there is in circulation in gold coin, silver coin, gold certificates, silver certifi- cates, treasury notes and national bank notes $1,514,903.142, giving a per capita in money of $21.18, estimating the present ulation at 71,518,000. ee erhe state banks flourished before the war, and those of us who were inconve- nienced by them can appreciate our present banking system, and yet we have men who want the old system revived. Another class of men supporting Mr. Bryan are those favoring non-interest-bearing bonds. Why have a bond at all If it does not bear interest? Effect of Free Coinage. “Should the silver {dea prevail, the per- sons engaged on salaries, farm hands, me- chanics, domestics, manufacturing indus- tries, school teachers, clerks and many others engaged in gainful pursuits would be more seriously affected by it than any other classes, as the inflation of all com- modities would commence on the day after the election, and the inflation of wages would not commence until six months after the election, and perhaps not then. “It will be seen that the classes named make up the best portion of the .popula- ton, except about a million, who are en- gaged in professional services and about 16,000,000 children ueder ten years of age. Assailing the Thrifty. “The principal object of the Chicago con- vention seemed to be to assall the thrifty, forgetting that prosperity Is increased by the aggregation of money. which consti- tutes capital, previding those controlling capital have confidence to invest in new and needful enterprises; unmindful of the fact that persons controlling their own cap- ita], such as the Astors, the Vanderbilts, the Goulds, the Sages, the Stewarts, the Newlands, the Joneses and others, invest their moneys in certain particular en prises, such as lands, bonds, railroads railroad stocks, and make comparatively few outside loans. “The great loaning institutions of this country, whose capital is invested in bonds and mortgages, are sustained mainly by the small sums of the plain people (a3 Mr. Bryan calls them), and these institutions are managed by men who are skilled in finance, sometimes men of wealth and sometimes not. “If by the arguments adduced by the sil- ver men the farmer can get $1 per bushel for his wheat next fall (which I doubt), and he pays off his mortgage with the 5 cent doliar_ which he has helped to bring about by his vote, then he has repudiated 47 cents’ worth of his debt, and there 1s no sugar-coating the fact nor can he cover it up. Criticisms of Sherman‘s Speech. A correspondent of The Star, who has studied the financial situation, writes: When Mr. Sherman, in his speech de- livered Saturday, treats of the consequences of a restoration of silver at the ratio of 16 to 1, he falls into an error that 1s common enough in ordinary campaign speeches, but that should not find place in a carefully pre- pared paner upon a question of such vital interest as that to be decided by the vote of the people of this country next November. He begs the question at {ssue. All his pre- dictions as to the detailed effects of such action as is proposed are based upon the assumption that the present market value of silver builion is due solely to natural laws of supply and demand. This is the keystone of his arch. Permit it to remain and his structure is indestructible; remove it and the whole edifice falls to the ground. In other words, if it be admitted that the pres- ent price of silver bullion is due solely to natural commercial laws, uninfluenced by legislation, then Mr. Sherman’s prognosti- cations are reasonably sure of fulfillment. But this is one of the points at issue. The belief of the advocates of free coinage of silver is that the present price of silver is entirely due to adverse legislation. And that adverse legislation has been the sole cause must be the belief also of those who hold that united action by the civilized na- tions of the world could restore silver to a parity with gold at 16 to 1. It is very plain that if the present market value of silver is due to natura! laws alone, any attempt to secure co-operative legislation from other nations to raise the price of silver must be hopeless at the outset. Mr. Sherman's state- ment that the proposed action by the United States would simply create a fifty-three-cent Gladness Comes Withs better understanding of the transient nature of the many phys- ical ills, which vanish before p: ref forts—gentle efforts—pleasant efforts— rightly directed. There is comfort in the knowledge, that so many forms of sickness are not due to any actual dis- ease, but simply to a constipated condi- tion of the system, which the pleasant family laxative, Syrup of Figs, prompt- ly removes. That is why it is the onl remedy with millions of families, and is everywhere esteemed so highly by all who value health. Its beneficial effects are due to the fact, that itis the one remedy which promotes internal cleanliness without debilitating the organs on which it acts. It is therefore all im; nt, in order to get its bene- fictal effects, to note when you pur- chase, that you have the genuine arti- cele, which is manufactured by the Cali- fornia Fig Syrup Co. only and sold by all reputable druggists. If in the eniopnent of good health, and the system is regular, laxatives or other remedies are then not needed. If afflicted with any actual disease, one may be commended to the most skillful physicians, but if in need of a laxative, one should have the best, and with the well-informed everywhere, of Figs stands highest and is m jargely used and gives most general satisfact ver. by a hair’s-breadth, would be ample to show that he belfeves that that price is caused by natural faws alone. But he direct- ly states that such is the fact. He says: ‘We carnot 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 ania supply affects the value as it dees iron, copper or zinc.’ The Value of Money Metals. “If this be true, then, indeed, is the oc- cupation of the international as well as the independent, bimetallist gone. The single standard is the only possible outcome of future financial legisiation. But this theory of thé value of money metals is not yet ac- cepted by all economists and financiers. Nor does {t seem to derive a warrant from the history of finance. When gold was dis- covered in hitherto unknown quantities in California and Australia, European econo- mists predicted that the large oversupply of that metal would greatly depreciate its market value. So strenuously was this urged that Germany, Belgium and Holland demonetized gold, making silver the sole legal tender. No doubt they congratulated themselves upon their foresight, and wait- ed, with complacent compassion for other nations which were still coining gold, for the anticipated slump in the gold market. But no slump resulted, and after a short period of expectation they, at the urgent demand of their business men, restored gold to the place it had before held in their coinage. The ratio of gold to silver had varied only to a most insignificant extent, and that variation wes probably due to ether causes, since greater variations had oecurred prior to the immense increase in the supply of gold—an increase that raised the coinage of gold in this country from $49,554,452.50 in the decade from 1838 to 1817, to $408,556,176.14 in the succeeding decad: that of sflver meanwhile being increased only from $22,331,719 to $35,791,307.63. If the enormous increase in gold at this period bad no appreciable effect upon the ratio of gold to silver, is it probable that the in- creased production of silver in more recent years has doubled that retio? To make this point clearer the ratios in various years are here inserted: 1825, 15.17 to 1; 1850, 15.70 to 1; 1860, 15.29 to 1; 1870, 15.57 to 1; 1880, 19.05 to 1; 1890, 19.76 to 1; 1894, 32.58 ‘to 1. Effect of Demonetiszation. “Tf, then, the history of money metals shows (and the more it is searched the mcre examples multiply) that the ratio of gold to silver is rot materially altered by the operation of the unaided law of supply ard demand, nor by the law regarding the ecst of product on (really a part of the law of supply and demand), what is the reason that after two centuries of slight variation a great change of ratio was in- augurated in 1873—a change more than double any that had occurred since the be- ginning of the Christian era? Is it nothing but coincidence that then, for the first time in the history of our civilization, with the bends of international intercourse greater than ever before, the principal nations of the world, with practical unanimity, de- stroyed the legal tender quality of silver? Is it not more rational to believe that the price of silver in the markets has been hammered down by the successive legis- lative blows of different nations? This is the belief of all bimetallists, both inde- pendent and international; for only the gold monometallists, such as Mr. Sherman has proved himself to be, declare that the present price of silver, being due to natural laws uncontrollable by legislation, whether independent or international, cannot be raised by legislation, whether independent or international. To them a gold standard with silver used for subsidiary coin is all the future holds. “Now, if the voting intelligence of this cuntry becomes convinced, as seems un- avoidable, that the present’ ratio of silver to gold is due to adverse legislation with regard to the former metal by the leading nations of the world, we shall then naturally led to the true issue of the c: paign, viz: Can the United States singly undo the work accomplished by the United States in conjunction with the other lead- ing nations of the world? “If the restoration of the free and un- limited coinage of silver by the United States alone will cause the price of silver to rise so that one ounce of gold shall in the markets of the world be valued no higher than sixteen ounces of silver, then ail the dire results that are prophesied by the opponents of that measure are but imaginary, based as they are, if Mr. Sher- Inan’s views are typical, upon the theory that the market value of silver will be uraffected by such restoration of free coin- age. If, however, the market price of sil- though raised, be not raised to the tio of sixteen to one, then the fears of disaster to the country felt by the op- ponents of the measure will be partially Justified. Although the difficulties they ap- prehend will not be realized to the full, yet sufficient financial disturbance will be caused to occasion much distress, and the credit of our country will be greatly im- paired. This is the serious problem to which we, the people of the United States, have to address ourselves. It behooves us, then, to weigh carefully the opposing the- cries that are presented to us, for, as no identical situation appears in history, the result of free coinage legislation is but speculative, no matter by whom presented.”” > TUG THREE FRIENDS SEIZED. Couldn't Elude the Revenue Cutter Boutwell. The tug Three Friends left Jacksonville, Fla., early Saturday morning with a schoon- er in tow, thinking thereby to elude the rev- enue cutter Boutwell, which has had the filbustering tug under its espionage for a week. The tug was coaled and provisioned for a long trip, and had aboard about eight large surf boats. Going down the river, the tug was seized by the Boutwell, and Cap- tain Broward, the master and one of the owners, was brought back to the city. The tug is held pending the receipt of instruc- tions from Washington, though not a gun or a pound of ammunition was found aboard. A hundred Cubans prepared to leave Tampa that night for Jacksonville or Fernandino, with the intention of joining the Three Friends’ expedition. The extra vigilance exercised on the part of the administration in watching the alleged filibusters is said to be due to a desire to hold the United States free from any charge of assisting Cuban insurgents, thus invalidating any claim Spain may make for indemnity. The seizure of the steamer Three Friends by the United States authorities has upset the plans of the Cubans at Tampa, and they are now awaiting developments. Saturday afternoon a special train was to leave with about seventy Cubans, under command of Augusto Aerno. They were to meet the Three Friends somewhere between Jack- sonville and Fernandino, but advices from Jacksonville detained them. Everything was ready for them to leave Sunday, but, as the Three Friends was stiil held, they will remain until she fs released. + ee ESSNESS CAUSES DEATH. RECKL A Fire ‘Truck Run Down by a Trolley Car. Sunday morning fire truck No. 4, with a crew. consisting of Lieutenant Hedden and several firemen, while re- sponding to an alarm of fire, collided with a trolley car at the corner of Woltz ave- nue and Sycamore street, Buffalo, N. Y. ‘The truck was stretched across the street car tracks when the car, which was run- ning at full speed, struck it. Every fire- man on the truck was Injured. Joha F. Clark was pinned under the wreck and crushed to death, his lungs being per- forated by the rung of a ladder. Fred Jackey went under the truck and received a concussion of the spine. He cannot re- cover. The other injured men are Lieutenant Hecden, hip bruised; Michael Rosenborger, left leg sprained and contusions; John W. Brechtler, ankle sprained; Nicholas Noel- ler, hip bruised; Anthony Manhard, bruised. The motor car was smashed to pieces, but the motorman escaped with but slight injuries. Both the motorman and conductor of the car have been arrested. James Cowan, the motorman, says he heard the fire gong, but did not slow up, as he thought he could cress the street ahead of the truck. + e+___ NO FILIBUSTERS ABOARD. Early The Commodore, With a Cargo of Arms, Sailed From Charleston. An alleged filibustering steamer, the Com- modore, has been lying off East Battery Charleston, 8. C., for months. At noon Saturday it steamed out of the harbor, fol- lcwed by the revenue cutter Colfax. The Commodore loaded ninety bundles of rifies end 201 cases of ammunition. Owing to the close watch kept by the Colfax no men were able to embark. FOR A THIRD: TICKET. ad to the Democrats téof ‘the Address ~ —* = Country. APPEAL 0 THE SOUND “MONEY MEN Urged to Send Delegates ‘to the Indianapolis Gonvention. = JUSTIFICATION OF “BOLTING oe ge The executive committee of the national democratic party met at the Palmer House in Chicago yesterday, and prepared an ad- dress to the democracy of the country. The address prepared by. the committee is as follows,. and is.a call for the conven- tlon to. be held at Indianapolis Septem- ber 2: To the Democrats of the United States: ‘The democratic party is the only existing political. organization with a- history ex- tending back to the birth of the republic. Party after party has attempted its over- throw. Some have achieved temporary triumphs. With each. triumph’ was heard the prophecy that the democratic’ party would surely die. It has survived all de- feats. By virtue of Its indestructible prin- ciples it has witnessed the birth ana death of every Tival save dne, and this, its pres- ent gréat antagonist, with a history of no more than forty years, hud no part in lay- ing the foundations of constitutional pop- ular government. = For more than a century men of high principles, noble, ambitious, unselfish and patriotic.aims have adhered to the demo- cratic party with a constancy of devoti unparalleled in the history of polities. ~ For more than a century, through good and evil report, in times of prosperity and days of adversity, it has kept its faith. “Without variableness 6r shadow of turn- ing,” it has held fast to the fundamental principles of free government formulated by its founders, and subsequently enforced by its great leaders from Jefferson to Cleveland. Definition of Democracy. For more than # century no man was ever in doubt as to what constituted de- mocracy. He who proclaimed himself a democrat defined his principles. He belleved, and this was the cardinal article of his politi- cal faith, in the ability of every individual, unassisted, if unfettered by law, to achieve his own happiness; and, therefore, that to every citizen there should be secured te right and opportunity peaceably to pursue whatever course of conduct he would, vided such conduct deprived no other indi- vidual of the equal enjoyment of the same right and ovportunit He stood for freedom of speech, free- dom of conscience, freedom of trade and freedom of coniract, all of which are im- by the century-old battle cry of the cratic party, “Individual liberty.” As @ consequence, every democrat believed the rule of law, and t{le rule of an im; tial law, In the unhesifating protection not only of the lives of ¢it}zens, but of private rights and property any n the enforcement of obedience to duly tituted authority. very true democyat, insisted upon strict observance of. 1f€) mandates of the federal Constitution ‘af therein prescribed, a$/ty4ll_ as upon a Joyal support of all the. inStitutions thereby | created to be guaratijigS of the liberty it sought to perpetuate. 7‘ He profoundly disbéHXed in the ability of government throukh, paternal legisiation or supervision to ineréasé the happiness of the natfon. ‘ t He was opposed td a attempis to con- of its citizens mfort into thé ‘hom: wealth into their pockets. He believed that it iy the function of gov- ernment to provide the people with an hon- and stable medifim f exchange, thus bling them to transact thelr business and conveniengiy gyi every mart and market of the world. 4 He teprobated every attempt t money by means of Fegistatio which it can possess ly ‘by those qualities that render It acc the watld when unsupported by fiat. He believed In the greatest measure of freedom of trade and industry compatible with the necessity to obtain by constitu- tonal means an adequate revere for the support of the government. He believed in a simple, economical, hon- est and efficient administration, to the end that the prime object of the government— the liberty of the people—should be pre- served with the least possible resultant burden and the greatest possible certainty. With such a record and such a creed, the President, moreover, being a democrat, ed on a platform reaffirming the sound principles of democracy, the democratic party was called upon to select delegates to national convention. H ‘The delegates to the convention held at | Chicago were authorized and had the power to proclaim a platform embodying their views of the true solution of the particular problems of the government now agitating the nation, but upon the condition that such platform should be consistent with the cardinal principles held by the party throughout its existence. These principles constitute the essential element of the party's life. They distin- guish it frem ali other political organiza- tions. If they are abandoned the party ceases to exist. legis! The Chicago Convention. 1 It war, therefore, not within the power of | any majority of the delegates assembled at | Chicago to bind the democrats of the United States to a platform inconsistent with the party's principles or to any action that should result in their surrender. In violation of the trust committed to them, a majority of the delegates assembled in that convention, ignoring the rights of the minority, unseated regularly ‘elected delegates to make places for others In sym- pathy with themselves. They proclaimed a sectional combination of the south and west against the north and east. ‘They impeached the honesty and patriot- ism of President Cleveland, who, under ¢x- ceptional embarrassments produced by past errors of legislation, has heroically main- tained the honor and integrity of the re- public Against the protest of one-third of the delegates, they promulgated a platform at variance with the essential principles ‘of the democratic party. : This platform is in {ts policies dangerous to the welfare and life of free government. It is mischievous in its tendencies. But even more threatening and mischiev- ous was the spirit of the conyention that adopted it, a spirit manifested not alone by its aflirmative action, but as well by its reckless rejection of eter} proposition tend- ing to temper the declarations of the con- vention with conserva{ism. and justice. ‘The plattorm proposes tie degrade-the coin of the United States hy means of the free, unlimited and independent coinage of silver by our government, and by the exercise of the power of the nation to compel the ac- ceptance of depreciated. coins at their nominal value, thereby werking an injustice to creditors, defrauding the laborer of a large part of his earning®and savings, rob- bing pensioned soldiers of a part of their pensions, contracting *the..currency by the expulsion of gold coin,frgm circulation, in- ! juring, if not destroying, domestic trade and foreign commerce. -1” While professing to:adwocate a policy of bimetallism, it censuxes the present demo- cratic administration fo, maintaining the parity of gold and silyér., It proposes to rediice condition of silver m etallism, with its vacillating and unreliable standard of values, and tends to bring the farmer, the Wage-earner and the salaried man to the wretched condition of the same classes in countries in which the silver standard pre- vails, and where the rewards of agriculture and labor are lower than anywhere else in the world. With what seems to be a deliberate at- tempt to mislead the people, it asserts that by the coinage act of 1873 the United States abandoned the use of silver as money, and that gold has appreciated and commodities have fallen in price solely by reason of this legislation. It ignores the fact that the price of commodities have fallen because of the enlarged use of labor-saving machinery, prcroased production and resulting compe- tition. It suppresses the fact that a potent reason for the decline in the price of sliver has been the discovery of new and cheaply worked mines, resulting in an enormous increase in his country to a of the limitations | , its production. Instead of recognizing these facts, it appeais ‘to the prejudice of the people. It demands the free coinage of silver at the arbitrary and fictitious ratio of 16 to. 1, although the ratio established in the world’s market is about 32 to 1,and although neither experience rior reason warrants the belief that the commercial ratio between the metals can be reduced, by the action of this government, to any ratio even approximat- ing that proposed. It threatens, in certain contingencies, to increase to an unlimited extent tne volume of legal tenders issued by the federal gov- ernment, the ultimate effect of which would be to force the withdrawal of all coin from circulation and to compel public and p: business to be transacted in deprecia Paper currency constantly fluctuating in value, and to invite the ruin and confusion that have always followed the adopiion of sucha policy. Its declarations invite, and have almost produced, a financial panic, and many of its Proponents ‘announce that, to accomplish their purposes, they are prepared to involve their country in a disaster comparable to nothing in its history save the calamity of civil war. It assails the independence of the by a covert threat to reorganize rourts whenever their decisions contro- e the decrees of the party It seeks to allure office. men toi support by at civil service laws, which good men of all partics have labored so long to estab] to extend to all departments of ti service. king th public Democrats Authorized to Bolt, The Chicago platform, having thus de- parted from the recognized democratic faitir and promulgated doctrines new and strange te the democracy, all democrats are ab- selved from obligation to suppor: its pro- gram. More than this, es the doctrines an- nounced are destructive of national honor and private obligation, and tend to create ectional and class distinctions, and engen- der discord and sirife among’ the people, all good citizens of the republic are hound to repudiate them and exert every lawful means to insure the defeat of the candi dates that represent these false doctrines. Democrats are told that they must accept the platform enunciated and the ticket nom- inated at Chicago beeause submission to the will of the majority is a fundamental principle of democracy. It is true that when a majority of the people had expre: ed their will at a legal election the will of such majority must be respected and obey- ed, tais being essential to the peace and existence of the nation. But it is a monstrous perversion of the doctrine to apply it to a political party which e only by virtue of a common, ent to its principles. When a democratic convention departs from the principles of the party, no demo- crat remains under any moral’ obligation to support its action nor is there any tra- dition of the party that requires him so to do. On the contrary, it is evidence of moral weakness for any free man to vote to en- foree policies which, in his opinion, are in- imical to the*welfare of the people or to the integrity of the nation. The duty of the hour is to s fast in the defense of our ancient and stead- aith. In this crisis there is a stake more than the possibility of temporary victory. Thi honor and perpetuity of the democratic ty are at s political of itself, its princt ke. n ization that i. its histo untrue to y and tradi- tions is disgraceful and dishonored. The existence of our great historical party that has withstood the assaulis of every is threatened by reason of the recre of many of its members. ‘hat this party, as we have known It, may not die, let the faithful of years rally d its historic banner, reform its broken. and, with abiding faith in the final triumph of its princiy to restore the name democrat io its r me. and pri tion. request all democ foe candid ize in thy sentative democ: on 0 to or and to send nation held at Ind ptember 2, N heretofore issu tte part Wednesda ance with al comm: D. RY) FIN RWI LIS B. USHE! S. H. HOLDING, F. W. LEHMAN, W. B, HALDEMA JOBN P. HOPKID Co wm. J. rested bs y after he has has be jaliy arranged. He will not go back to New York to answer the speech of Bourke Cockran. He will go to Buffalo, from Buffalo to Erie, from | Erie to Cleveland, speaking at each pla’ eland he will go direct to Lin- When he leaves Lincoln he will go of that trip not but including arranged, 3 in Kentuck: lorida, d Maryland, and then he will’ ¢ again about the last week in Se; e will speak in Brook ‘ew England. yn and then go to Upon his return from New sland he will speak in New York cit “Mr. iver qu . Bryan sald last nigh: aad I discussed both tl and the income tax while in Congr= If he advances any new arguments they can go to the country along with my speech of last week. I shall not return to New York urtil the latter part of Septem- ber, when I expect to speak brietly in Brooklyn on my way to New England, and in New York on my return trom New Eng- jand. Mr. Bryan said in regard to the state- ment by Senator Thurston that he (Bry: had been charged with being in the p: silver mine owners: “The statement been deni a more specific denial will be made. There was little or no demonstra the village of Upper Red Hook, N when Mr, and Mrs. Bryan arrived y: day, after a six-mile drive from the sta- tion, and until last’ evening there w, little or no desire evinced by the villagers to see the candidate. But toward dusk -he people of three vill gathered about the house, in front of which there is a large lawn, and while the Red Hook Brass Band played the crowd cheered. The J. Watts de Peyster gun squad of Madalin, in uni- form, paraded for the occasion, and there was quite a deal of enthus an was introduced to the p Jacob Elseffer of Red Hook in a few re- has ed before, and at the proper time marks, indicating that the affair was of a good-natured, social quality. Mr. Bryan {r, Chairman, Ladies and Gentlemen: for Mrs. ire Bryan as well as for 5 to thank the gentlem: who has gra ly extended the welcox and the people who by their presence i It gives us great pleasure ceasion and renew old-time acquaintance with one of your teemed citizens. We are glad, too, to find our rest in this quiet place, among the people who exemplify the truth spoken by the wise man so many hundred years ago. When Solomon said that he desired neither riches nor poverty he gave express thought which we may well con such a communi In y we find equality and fra- ternity and we find people bound together a friendship that promises well for all that is good and uplifting. “We are glad to rest here for a few days from the weariness of the campaign and we are pleased to know that you who live mong these mountains, where you can take a broader view of these earthly scenes, are also as citizens able to rise above pa ip and take a broad view of our political life; that you, as republicans as well as democrats, can lay aside for the moment all political thoughts and gather without respect to party affiliations to do honor to the office to which at this time I aspire.’ “And you'll get it,” cried a voice in the crowd. a ve always lived among those who differed from me, and at all times I have found some of my best friends among those who could not agree with me upon public questions. I am glad, too, that you recoz- nize that high plane of citizenship on which each citizen, whiie firmly standing by that in which he believes and courage- ously upholding the cause which he ¢s- ponses, can at the same time extend to all others that charity which he asks for him- self. I am glad that as we struggle on with intense earnestness in carrying for- ward those policies which we believe are of vital importance, we can still, like brethren, stand side by side without feeling that there is In these contests anything which should draw forth personal animosity. I thank you for your gathering and for this DO YOU FEEL IRRITABLE? Take Horsford'’s Acid Phosphate. It makes a refreshing, cooling beverage aud 18 an invigorating tonic, soothing to the nerves, opportunity of making your acquaintance.” Mr. Bryan made reference to several er- rors that appearef in the printed copy of the Madison Square speech. Near the be- ginning of the speech the word “property” should be made “poverty,” so that the quo- tation from Lincoln ‘should read: “No men living are more worthy to be trusted than those who toil up from poverty.” Near the end-of the paragraph beginning “It cannot be successfully claimed,” the word “not” should be inserted after “mus So that the sentence will read: “The infiu- ence of this nation must not be thrown on the side of gold.” Near the end of the speech, in the sen- tence beginning: “The people of the United ates would be injured by charge in the alo,” should read “change” instead of “charge.” In the speech as given out through the newspapers the paragraph beginning: “In answer to the charge that gold will go abroad” was misplaced by the printer. Thgt paragraph should have preceded the paragraph beginning: “Our opponents can- the not prove abroad.” fact that gold is going WRECK DUE TO HEAT The Hot Weather Had Caused Rails to Spread. The second section of train No. 1, west- | hcund, on the Denver and Rio Grande rail- road was wrecked Saturday afternoon eigh' miles west of Pueblo, Col. The special was made up of an engine, day coach and three tourist sleepers, and was occupied by an excursion party. The train contained about seventy passengers. Near the little town of Vegas the entire train left the track, and the engine turned over. The engineer, Charles Davenport of Pued- lo, aged forty, and the fireman, W. F. pert of Burlington, Iowa, ag FATAL TRAIT Were instantly killed. About twenty ps sengers were injured, but none seriously the injuries being confined mostly to bruises and cuts. It is the opinion of railroad men that the accident was caused by the spreading of the rails, due to the intense heat. SS British Diplomatic Changes. It is officially announced that the Rt. Hon. Sir John Monson, British ambassador at Vienna, has been appointe! British am- bassador at Paris, in sion to the Marquis of Dufferin, whose term of serv- ice expire: Sir Horace Rumbcld, Bart., British min- ister at The Hague and formerly attache of the British ministry at Washington, su -ceds Sir John Mo: a dor at Vienna. Sir John Monson is a brother of Vi Oxenbridge, and was born in 1834. AUCTION SALES OF REAL ESTATE, &. Today. ©. G. Sloan & Co. Madison st. dw Aurust 18, at Join B. Larner, trustees, oan & Co, Aucts., 1407 G st. now.— at sales rooms, on ‘Tuesday, Au- nd continuing daily, Tomorrow, ateliffe, Sutton & Co., Aucts,, 920 P le of beycles, et sitles rooms, Eawin gust 18, August at 10 o'clock am, Duneanson Thos., Aucts., tl and D sts. naw. 10th st. between M and N sts, naw, improved property. Sale Wednesday, August 1, ‘clock p.m. Mahlon Ash ¥ neon, trustens, . Dowling & Co, Au . on Wednesday, August 1 of contractor's outtit, AUCTION SALES. Rs RezreNon ord and Constantin AUCTIO GS. tting out tl best-known fumped upc + and frames aks Gaunnicsicns Tuesday, August 18th. C. G. SLOAN &CO., Auctioneers, 1407 G ST. N. W. aul7 FUTURE DAYS. r AL y virtue of three certain welts of flerl facias, ssaued by Charles S. Bu justiees of the peace in-and fe the Suits of + ex., one of the the Dist trading will AY as <M., on the premises, 4 axls and chattels Iron, nd IMPROV r BETW THIRD AND of the Sn- passed on of a: ot ces, will tens, ON t ereon. The said subdivision 10 Uwe deeds of trust t With the p to be represented yy lated the day of s: mnually at the rate deed of trust on the pr pion. A 1 or lot bearing: in- 6 per mM) required on ea at time of Terms of sale to be complied with in te wl the trustees, in the event of non- compliance, may resell the property at the risk and cost of defaulting purchaser after five. previous All cony purchase ring and reco: aul7-4 No, 344 D st. nw, ) THOMAS DOWLIN TRUSTEES AST. AUCT., 612 E ST. N.W. SALE_OF IMPROVED PROPERTY, 1312 ‘TH STREET SOUTI- yi E By virtue of a certain decd of trast, tember 28, 1894, and duly recerded in’ 1 folio et seq. one of the land records District of Columbia, and at the request parties secured th we will sell, at pu! tion, in front einises, on MONDAY AT the following described property, red twenty-three G3), of Sen vidinund Schmidt's (trustees) sub numbered one thousand and one proved by a tw ck building. ‘Terms: One-third cash, balance in one and two years, with interest, secured by a deed of trust upon the property, or all cash, at’ purchaser's option. $100 deposit required at time of sale. All conveyancing and recording at purchaser's cost If terms of sale are rot complied with in ten days the trustees reserve the right to resell, at the Hsk aad cost of defaulting purchasers, SAMUEL Hl WALKER, aul2-d&ds ‘Trustess. | right te resell th AUCTION SALES. ToNoRROWw. RATCLIFFE, SUTTON & 00., AUC Guccessors to Rateliffe, Darr & Special Sale 100 High Grade Famous “Lovell Diamond” Bicy- cles, Models 28, 29, 30, A and B, with Factory Guarantee to be sold for the High Dollar at our Sales Warerooms, 920 Pennsylvania Avenue, on Wed= nesday, 19th Aug- ust, at 10 o’clock A.M. Now on Free Ex- hibition. rms ¢ d&dis KATCLIP . PURLIC SUTTON & ©0., Auets. MAS DOWLING, AUCTIUNEER. J of Plows, 9 Wi Double Harness, waning, 1 Blacksmith Bel of Double and s Ix, Picks and mentioned. Train louves pm. WIL. 2 10 Et ita am Washington, FUTURE DAYs. MAS DOWLING, AUCT, 12. "Ss 1314 1TH of a certain deed of t ISuL, and duly rece walt in front of TWENTY 1 PM... ihe foll publi NDAY, FIVE or all cust, quired att the re img pu JAMIE aul2-ddds BUR SUTTON & partic will origina in st is reconded in the uffice « tibia, in Tod © impreven afier five days’ adve spaper publish ng aid recur JOUN W. EUGENE SCHAT CARUST Trasters 1407 G ST. TY IN 5 a) BY # KNOWN AS 4009 f, INCLUSIVE ITH STRI Ry sirtue of a deed 1804, and duly tees one of the land ree at ON PRE FIVE « die aueti in front TWENTY VIL th: following in the worth, gethe tot Parchaser to assnme a trust of $400 deposit balance Terms of from day of &: property + defaulting purchaser n of such Tesale fn some newspaper p in Wastington, D.C. All conveyancing. a) Conding at cont of purchaser peeing SE FOMN. 0, JOHNSON, | Trustees. 1325 14th st. nw. > -A-HALE AND 5 3; ALSO TWO VAC BETWEEN F Ry virtue the Distrlet of 13) brick 5 date, immediately after the we Will sell, im frout of the preinises 19, i square 499, being th of T street by a depth wed And. on the date, immediately sale, we will sell, ta front of the poe s, the west half of lot 20 and all of i ‘49, having @ front of 30 feet on K street et. of sale: One-third $200 requircd od, BH chaser, chaser's « FILAMORE cn REALL, Trustee. asds DUNCANSON BROS. AUCTIONEERS. TRUSTRES’ SALE OF ES’ S at follo records of the District of Ci : ty secured SDA 3 A.D. Tso, at + the followaug in th, consisting of a with pressed all modern Terms of sale: One- . to be paid in cash, and the batance tn ty installments, payable In one and two years, interest at six (6) per coutum per annum, p: semt-annualls, from day of sale, secured’ by deed of trust upon the property sold, or all cash, at the option of the purchnscr. A deposit of $100 Will be required of the purchaser at tre thme of sale. All conveyancinz, recording and notarial fees the purchaser's cost. Terms of anie to be complied with within ten days from day of ma otherwise the trustees reserve the right to resell the “eaweged at the risk and cost of the defaultlag MARLON ASHFORD, ALDIS B. BROWNE, ‘Trustecs, ‘Syl4-dkede