Grand Rapids Herald-Review Newspaper, August 1, 1896, Page 4

Grand Rapids Hreratae"Review PubUshed Every Saturday. By E. C. KILEY. TWO DOLLARS A YEAR IN ADVANCE Bix Months...... $1.00 { Three Mouths........ 50¢ Entered in the postomec at Grand Rapids Minnesota. as second-class matter. DEMOGRATC TICET. For President— WILLIAM J. BRYAN. For Vice President— ARTHUR SEWALL. For Representative in Congress for the Sixth Distriet— CHARLES A. TOWNE, of Duluth. *©You shall not press down on the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold.’—William J. Bryan. NotwWIrHSTANDING the opportuni- ties for joint debate of the currency irsue that will be offered by promi? nent advocates of the free coinage of silver the HeRaLp-REview will ven- ture to predict that not a gold-bug in the United States will dare debate the Page Morris will not be allowed by his managers to face He will sneak out of his ac- ceptance of the recent challenge by insisting on a discussion of the tariff, the late rebellion, or some other de- ceased subject. Towne is a protec- tionist and is still as much a Republi- can as is Page Morris except on the question of currency, But that ques- tion alone is more far-reaching 1 its influence on the prosperity of the American people than all the others combined, and it is on that issue alone that the present campaign will be fought out, and Candidate Morris will have to take his medicine with the rest of the boys. question. Towne. Tue St. Paul Globe, which recently bolted the Democratic party and now openly defends all that is monopolis- tic, and particularly the money mo- nopoly, admits that “ John Lind will, | from all indications, be’ the sole op- ponent of David M. Clough for gov- ernor of Minnesota. It is agreed on all hands that the People’s party will nominate him in their state conven- tion, to be held August 26. The most powerful advocates of free silver in the Democratic party of Minnesota are openly working to secure his nomination in the state convention to be held next Tuesday at Minneapolis. That they will suceed seems certain, beyond any sort of adoubt. Every zounty convention’ yet held has in- structed for Lind. So far as the con- gressional seats are concerned, the free silver Democrats and Populists will unite in every district.” WueN a man tells you, says the the Tokeka State Journal, that a silver dollar is worth but 53 cents in gold, offer him that amount for it if you can get the gold and see if he will take it. He will probably say that the silver dollar circulates at its face value be- cause there is a gold dollar behind it. He will know and you will know that that is not true. enough in the United Statesto redeem the greenbacks and -national bank notes, to say nothing of the silver cer- tificates and Sherman notes, and the supply of gold is growing smaller every day. Wiuiam P. Sr. Joun, the wealthy banker, who resigned the presidency of the Mercantile National bank of New York, rather than remain silent and stultify his honest convictions in the present financial crisis, deals terse- ly with some of the common errors advanced by the defenders of our present infamous single gold standard, In reply to the vuestion, “ What will| follow free comage from a banker’s point of yiew?” he replied: “The gold already in the treasury will re- main there, if common sense dictates the treasury management; that is, if the treasurer exercises the option to redeem United States notes in silver. A premium on gold will not accasion acontraction of the currency, bank hoards of gold continuing to serve as a portion of bank reserves against bank liabihties. A premium on gold willhave a tendency to increase our exports by causing a higher rate of yreign exchange, that is to say, by There is not gold | - yielding a larger net return in dollars on the sale of bills of exchange with which to pay for goods imported. The tendency of increasing our ex- ports and decreasing our imports will be, first, to set our spindles running, swell the number of paid operatives, increase their wages, thereby adding to the number and paying capacity of the consumers, and thus enlarge our markets for all home products and and manufactures, with prosperity in general as the result assured. The tendency of increasing our exports and decreasing our imports ,will be, second, to establish a credit balance of trade for the United States. A credit balance of trade means that Europe has become our debtor, and must settle with us in money. Eu- rope’s silver money is overvalued in her gold, compared with ours, by from 3 to 7 cents on the dollar. The European merchant or banker will thsrefore make his trade settlements with us in gold, more profitably by from 3 to 7 per cent than in his stiver. With the instant that European trade settlements with parity for our gold and silver money is established in the markets of the world, therewith the 371% grains of pure silver in our silver dollar and the 23.22 grains of gold in our gold dollar become of ex- actly equal worth as bullion in New York.” CALLING IN LOANS. We hear a good deal about loans being called in upon the threat of free coinage, and now and then the ac- count comes to us of some enthusiast- ic gold man, more spiteful than sensible, who has actually *efused to renew a loan, demanding payment the moment the debt talls due. That is what the gold advocates call an object lesson to the silv.= advocates. As a matter of fact, the money lender who calls in a loan upon the pretense that he is afraid to risk a loan with free coinage threatened, simple cuts oft his nose to spite his face. If he calls in his loan, what does he get for it? Gold? In that event he gets what free coinage is going to de- preciate in value. Paper money? In that event he gets what free coin- age 1s going to make paper money. What does he gain? Manifestly nothing. What we need to bear in mind is that free comage is going to make money an undesirable thing to hold. That is just as plain to the gold advo- cate as it is to anybody. Gold relieved temporarily of all its money function, and forever relieved of the function of redeeming all obligations, is going to fallin value, steadily but unceasingly until it shall resume its natural level, namely, the level it would always have maintained but for the fiat of the government declaring ‘it the only ultimate money. Paper money, bereft of its gold backing, is going to stand for silver coin, and silver coin, beginning with the fiat coinage value it has now will steadily fall until it likewise resumes its bullion value. That is to say, money is going to be a falling commodity, if we have free coinage. As between the two alternatives of continuing his credit and of turning it into cash money, the obvious advan- tage of the creditors impels him to the former. It is true that his credit, be- ing expressed in money, will depre- ciate just as money would depreciate. But there 1s still the interest he would draw in favor of continuing the debt. Whether or not free coinage will fora time discourage loans and tend to drive capital to ,purchase and in- cussion. It may be that money, be- ing a cheapening commodity, will hasten’ to translate itself into commo- dities that are growing dearer, but that is really not important, since in any event capital would be active. What interests us now is the certainty that free comage offers no encourage- ment to the holding of money in hand. On the contrary, it affords the most powerful motive to an oppo- site course, Look at the other side of the picture for a moment. If by the voice of the people assurance is given that the single gold standard is to be perpet- uated, then there appears a reasonable motive for calling in loans, because a single gold standard makes money rise in value all the time. Loans will be hard to get then, because nobody would care to let goof his money, and run the risk of having finally to take a far less desirable commodity in its vestment, might be the subject ot dis- | place. Nobody would care to loan money upon real estate security, be- cause he might have to take real estate in place of the money, in which contingency he would have a falling commodity on his hands. It is umreasable to say that the threat of free comage will impel creditors to turn their credits into money, Will Fight It-Out. No such fight as is to be made this year can be made and not be considered final. Unless the free silver cause can win in this campaign, it isended The free silver men admit this.—St. Paul Globe. “vThey don’t admit anything of the kind. The people are not going to lie down in meek submission to op- pression. They are going to light the issue out until the hot regions freeze over,and then fight it out on the ice,” The Brainerd Journal ‘shows the proper spirit, and the people are back of that sentiment, and with it they say we'll tight it out. Thousands to Come. Ina very short time now, St. Paul wil! be crowded with veterans of the late war, and the crush resulting from the national encampment of the G. A. R., will number close to 200,000. The countr: along the line of the Saint Paul & Duluth Railroad will send thousands, but thousands will be received in return; for visitors will want to see the most picturesque por- tion of Minnesota, which lies along the Duluth Short Line, and the lakes like White Bear, Forest, Rush and the Chisago chain, besides visjting Duluth, West Superior, the Great Lakes and the iroa ranges. For that reason they will take the St. Paul & Duluth railroad, along which they can see more for their money than along any railroad east of the Rocky Mountains. The Duluth Short Line will have a welcome and a place for maps, circulars, ete., from ticket agents should write at once to W. A. Russell, General Passenger Agent, Sp. Paul, Minn. A Scientific Attraction. The 50th anniversary number of the Scientific American, New York, is a really na eerOns and _vabuable publication of 72 pages. It reviews the progress of “the past 40 years in the various ences and industrial arts; and the various articles by the best scientific writers of the day are racily written and richly illustrated. The editors: have accomplished the difficult task of presenting a com- pendium of information that shail be at once historical, technical and | popular. The interest never flags for a moment, and the story of the half century’s growth isin itself a verit- able compendium of valuable inform- ation for future reference. Price, 10 cents per copy. Dickens’ Personal Side. Stephen Fiske, who probably knew Dickens as intimately as did any American, has been induced to. write of “The Personal Side of Dickens” for the September Ladies Home Journal. Mr. Fiske often spent sea- sons with the famous novelist at Gad’s Hill, and his article will describe the | mcidents of these visits, Dickens’ | home life, his method of w orking, and his pastimes. It will possibly surprise Dickens’ friends to learn, through Mr. Fiske, that a considerable portion of his hbrary was made up of dummy books, which, however, offered the author a target for some of his delight- ful satire in giving them'titles, and af- forded his guests great amusement. You Will Miss It If You Don’t Inquire about the summer trips ar- ranged by the South Shore road by rail, lake or river. They are most charming and inexpeasive. T. H. Larke, 426 Spalding House block, Du- juth. $10. To Rainy Lake Gold Fields $10, From Duluth, via steamer to Port Arthur and Canadian Pacific Ry. Four sailings each week. Time, three days. For particulars apply to T. H. Larke, Agent, 426 Spalding House Block. A. BootH Packine Co,, Beatry Line STEAMERS, Daluth. Those Burlington Readers Can be had by sending your name to W J. C. Kenyon, G. F. & P. A., St. Paul. Minn A fresh sheet every month, 29-4 Grand Rapids Shoe Shop Two Beors Seuth of the Post Offies. FIRST CLASS Drivers’ and Cruisers’ Boots Made on short notice. Ladies’ and Gents’ Dress Shoes Made to Order. REPAIRING NEATLY DONE Call and See Me. W. B. HOLMAN. The SeeLey House GRAND RAPIDS, MINN. Best $14 day Housein the Village. two Blocks from Depot. Only CHARLES SEELEY, Prop. Newly Furnished and Enlarged: Class Bar in Connection. First everybody, and those who cannot get | THE POPLAR TAILORS, Invite you to call andis ncpet their line of 6 6 ‘ Spring and ae Sumner OUITINSS Comprising tne Very Latest Designs and Patterns. $s Insurance in Force, - - - $20,137,350,00 a8 Paid Policy Holders and Benefici- se aries, - - - - . - - 308,352.41 os Net Surplus, - - - - - - 410,839.65 i : RECORD FOR 1895. 4 GAIN m new business written over 1894, 87 per cent. Be GAIN in amount of insurance in force, 46 per cent. oe GAIN in Income 60 per cent. bb GAIN in Assets, 86 per cent. ae GAIN in net surplus, 37 per cent’ Se #2 Life, Annuity, Equation and Return Accumulation Policies #t | 4 Premium rates about 40 per cent less than old line companies. 33 Re | ee For full information address. ee id * ee : Northwestem Deparment, == ee 133 Ormnwestern Vepariment, # ae b. K. THOMPSON, MINNEAPOLIS MINN. #2 os Manager. Re ee es d. W, EARL, Superintendent Agencies. He 1 eae eee ee aa a ace ae aa eee ae at eee a tee aaa aa ae HERE AE ae Ea ae ae ae ae REAR a SRE ARE aE AE aE Ale A ae ae afk ae ae ae a ae he ae ae ae ae ae ae ae eae ae ae ae A ae he He ae eae ae a aH EE EEERE EEE EEE EE RESET EEE TEER EE EE EE TESTE ET EEETESEEEEEES SERIE aR | Ee ee i S j He #oecurity Mutua ee ate Re 7 # Life Association He ee ee Lae = ot Binghamton, New York. ee Incorporated under the Laws of the State of Po New York, Noy. 6, 1886 <¥ ge #8 January 1, 1896.. 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Hennessy Trustees...............+. { C. W. Robinson George Vient Recorder... .O, C. Miller Henry Hughs T.M, Brady ..Jos. Lalsur Treasurer Attorney Marshal... COUNTY OFFICERS. MARR H.R. King A.A. Kremer Michael L. Tools P. Hi. Varley Chas. Kearnoy Wade Blakes D. Rassmusseg A. Bowman. J¢ ©. L. Pratt aniel Rogers Deputy § Register of Dee Clerk of Court. Judge of Probate Court Commissioner. County Attorney. County Surveyor Qoroner ........ r. H.R. Ehte Svbool Superintenaent. ....Mrs. 0. H. Stilson County Conmissioners— District Otstrte Mistriet No. ..Geo, Lydick J. F. 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