Omaha Daily Bee Newspaper, June 21, 1891, Page 10

MONEY AND IIS GENESIS. @old and Eilver as Modern Mediums of | Exchange, A HISTORY OF THE FINANCIAL QUESTION. Andrew Carnegle's Thoughtful Arti- cle Upon the 1 the Re- stricted Coinaze of the White Metal, reproduced the open- ing chapter of Mr. Andrew Carnogie's re- markablo paper in the North American Re viewon “Tie A B C of Money.” The second chapter is horewitn given I bave finished tellin We como now to apply th ent situation, and here v the silver qu and I am s attention, for it is the most pressing of all questions now bofore you. You see that the in its progress, nas us. as “money,” and discard: articles ro found, an reached coined pieces of v the most perfect article, O are used among civilized staudard metal —gold in some ver in others. No country cai standards. Centuries ago silver was a as the standard in China, India and Japan, and more recently in the South American ro publics: and it still is the tard in the countries, When adopted it was a ilver had nearly dounle its 1 value, and was then steady, and it answ all the needs of a rural people The priucipal nations ot own country, being further advancod having much groater business try found the necossity for using as a_ stanc wore valuable motal than s . and gold was adopted; but as silver wias used as Zoney in wany parts of the world as the atandard, 1 used in these gold-basis countries for “small change,” was ad visable for theso nations to agree upon the valua in gold which would bo accorded to silver, and this was fixed at fifteen and one- half ounces of silver to oue of gold. Please note that tnis was then as nearly as possible the market value of silvor as a metal compared with gold as a metal. The nations did not attempt to give 1o silver auy fictitious value, but only its inherent valuo. ~ Aud, more than this, each of theso nations agreed, when the agreoment came to an_cnd, to m all tho silver cown it had issued in gold at the value Axed. kverything went well under this » rangement for s long time, The more ad- vanced nations were upon a_gold basis, tho less advanced nations upon a silver basis, and both were cqually well served. What, then, has raised this silver question which overybody is discussing! Just this fact: that while the supply, and therefore the A week ago Tur Bry you about *money." o fucts to the pres once upon stion ; arious ar ) when bettel has {inall uablo metal as two metals nations as the tries, sil iave two Lurope and our it value, of gold rematned about the same, gre: deposits of silver were discovered, wonderful improvements made in mining and still more wonderful in the for refining silver ore; apd as more and more silyer was produced at less cost, its valuo naturally fell move and more; one ounce of it, worth $1.43 in 1573, bemg worth today only $1.04. Tt has fallon'as low as i cents, It has danced up and down; it has lost fixity of value. To ail countries upon asilver basis thero have come confusion and_disaster in consequence, The question in India, with its 285,000,000 people, is most serious; and you sco how our South Ameri: can republics are troubled from this fall in the value of their basis article, by which all other articles are measured. Even the European nations which are upon a gold basis are troubled by this “silver question,” for under the agreement to rate fifteen and a half ounces of silver as worth an ounce of gold some of these nations have had enor- mous amounts of silver thrust upon them, Most of them saw what was coming wany years ago, and 4 to increaso thoir silyers some disposed of a groat deal of what th had, and placed themselves strictly upon the gold basis; but there ropean countries eleven hundred millions of dollars of silver lezal-tender coins, not, counting the amount of “'token” silver mouey used for small change. It is not safo to say that less than twenty-five ounces of it would be founa equal to one ounce of gold if put in the mar- «ot, instead of fifteen-and-a-half-ounc basis upon which those countries haye obtained it. All European countries have been, and aro still trying hard to escape from silver. In 1878 those comprising the Uulon, which fixed the Belgium, Italy, Switzerland finally closud itieir mints to legal-tender Norway, den and Denmark in 1 1875 ran out from under the silver avalanche, and now stand fivmly upon a cold vasis. Hol- land also took 1ts stund practically upon golg fa-Hungary has 1ot coined silver since 15, except a small amount of “Levant silver thalers” for a special trade purpose. Even half-civilized Russia took the slarm, and ran as fast as sho could out of the silver danger, for in 1576 she shut her mints to the further coinage of the dangerous metal, except such small amount as China wished to take promptly from her. So you 800 that all thoso countries that have tried or and found out the evils which it pro- duces, and its dangers, have been, and are now, using every means to rid thomselves of it. For thirteon years it has been cast out of their mints, for during this long poriod no full legal-tender silvor coins have been issued in Europe. Ounly our republic, umong nu- tions, is boldly plunging decper and deeper into the dangers of silver coinage. When we have had the experience of older nations as 10 its operations, wo wmay, and, I think, surely will, wish, liko them, to retrace our steps when it s too late. So, you see, there is trouble wherever there is silver. What to do with their silver, which has fallen so low in value, is a scrious problem iu all those coun- tries. It nangs like a dark cloud over their futurd. So much has silver fallen in all parts of tho world and_ disturbed everything that several conferonces have boen called by the uations in recont years, to which the United States has sent delegatos. The object of theso was 10 see whether the chief conumercial nations could not agree again upon o now gold value for silver. But tho conclusion has always been that it was too dangerous to attempt to fix a new value for silver until 1t could be clearly seon what the future was to show about’ its supply and value, for porbaps it might fall so oAt twenty-five or thirty ounces of it would not be worth more than an ouce of gold; no one cau tell. As our country has already gone so far into the dan have 183,000,000 in depreciated silvor, wo bad to confer with our noighbors in misfor- tune, and uppear as oreditors have to appear ot meotngs beld to try to support the bad business of a faling dcbior. Porhaps you are asking yourselves why, when I spoke of all the European countries in remtion to silver, I did 1ot state the amount of silver beld in reserve by our principal rival, Great Britain. Listen one moment, snd tho pouder over the reply. Notonedollar. F'rance has 1o less than six hundreda and fifty millious of dollars in silver in her bauk; but every dollar of Britan’s reserv the one “stoady, unchangeablo basis gold. Wiso old bird, the dear motherland sits upon her perch, whistling away out of all danger from this silver trouble,” She has mado London the financial center of the world. If auythiug be bought or sold in for- elgn lands, » draft upon London is demanded because every one knows that, come what may, it will bo paid in the best article, which cannot fall in value—gold. No draft upon Pavis or Vienna or New York for wise men, Why! Because the nations reprosented by these cities have become involved in great possivlo losses by thair buge piles of silver, aud may attompt by legislation to make drafts payablo in that metal, which fluctu- atos 50 (u value. Twish the people of the United States would watch Britain carefully. Sue is keop- g her own counsel; she is treating the sil ver-loaded nations with cool politeness in the conferences, which she graciously conde- ends to attend ‘only becauso ludiu, over which she rules, is unfortunately upon a silver busis; If it were not for that sho would prob- ably politely decline. When they talk about fix{ng a gold value upon silver, she says that she really does not ®now what she will ae- oide upon tu the matter. What she is pray- ing for is that the United States will continue 1o go deeper and deoper iuto silver until re- treat is impossible, and she will keep her old policy, which has made hoer supreme in Hnance. Her only possible rival is not to be found In Europe, but here in the United States, Whata grand thing for Britain if our eountry could be brought down to a silver basls—forced to relinquish the one standard whioh can alono give @ nation front rank in the fnancial world | Silvar for the republic, wtin THE OMAHA DAILY BEE SUNDAY, JUNE 21, 18901—SIXTEE for the monarchy: this is what Great Britain is honing may come to pass, and what every American should resolvo never shall Governments may pass what laws they ploase about silvor: the world heeds them not Every business transaction between nations continuos to be based on gold exclusively but gold—and will so continue. n knows this and acts accordingly, I think I hear you ask indignantly: *‘How eatme our country to have 320,000,000 of silver dollars in its vaults, like k . instead of having its roserves in tho old, like our , Britain, when, like Britain, we have gold as our basis.” That 18 a question every toiler and every farmer should ask, and demand an answer to, from his ropresent tive in congress. The reason 1s easily givon. Here is tho hist r, 88 we havo seen, had fallen in , and was likely to mll still more. European nations were i down with many hundreds of nullions of llul lars, and all anxious to wet rid of it; owners of silver and of silver miues wero alarmed: what was to be dono to prop the falling metal! Evidently the governmoent was the only power which could undortake tho task; and towaras that end all the influenco and resources of the silver power wero bent with eminent success; for tho massos epresented as in favor of were going with the their own interests, in possibie. gold sneculators agains th nost dairect way T'he fivst act which aimed to give by 1 avalue to silver was passed in 157 It required our government to buy at least two willion ounces of silvor every month, while all other wovernments had ~stopped coining it, it had becomo daug Hl\xlllll' Ihw silver mou in- os would raiso 1ts No. 1t did not tw be d¢ r-tongu governni hat was o e sily the only advinoo In prics then “ANIY said th ulators, “‘the oue far enough 1t let the gove 3 illion ounces per and this will tako all tkat the country’s mines yield, and morc too, and so siiver must advanco i value.”” "They were right in stating thut four and a hatf millons per month are me than th total yield of the United States sil. and then eight to ten millions of ud used every year for coining into” “money,” an, say, four millions per Many people were per- lod that if the government bought so much silver per month the valuo of silyer must advance. The price did advance, oe- cause many of these mistaken peopte bought it_upon speculation beforo the bill passed. Silver rose from % to almost to its old rate in gold. But what has been the result sinco the passage of the now billl The answer is found in the quotation for silver today. It is back from 121 to 97, and hore we are again So, instead of bewg free from tho silver trouble, as Britain is and we should have beon, theso men have succeeded in unlonding upon = tho covernment 90,000,000 of their silver, and we g most as badly off es Franco;but th this difference; I'rance and other na- tions prudently stopped adding to their bur- dens of silyer thirteen years ago, while our government is udding to its store 4,500,000 of ounces of silver overy month, costing a little more than that amount of do'lars. The United States is trying to ignore the changed position of the silver, and to make it equal to gold, against the judgment of all other first- class nations. To succeed, we_ shall have to buy not only what our own mines produce, but a great deal of what other mines pro- duce throughout, tho world, the total yield of silver boing enough to mike 165,000,000 of our dollars every year; and then we must, in aadition, be p 110 buy the $1,100,000,000 worth with which Europear governments are now loaded down, and which thoy are so anxious to scll. So tar from the povernmontfpuranases of silver having raised its valuo, the govern- ment could not today sell the three hundred and thirteen millions of dollars’ worth in its vaults without losing some millions upon the price it has paid the silver-owners for it. You will scarcely believe that the accounts of the treasury stite that the government has made s0 far, sixty-seven millions of profit upon its silver purchases. This is claimed b for the amount of silv a paid only about eighty conts. 1t is fictitious. You see, the nation has been lod into foolish purchases of silver. Irour and a half millions of your earnings are taken through taxes every montn, not for tho constitutional purposes of government, but in an effort to bolster a metal by paying prices for it far higher than it otherwise would command. Your goverament Is being used as a tool to enrich the own of silver and silver mines. This is bad indeed, nut hardly worth mentioning compared with the danger of panic and aisaster it brings with it through the probable bunishment of the steady gold basis and the introduction of the unsteady basis of silver. The republic had the disgrace of slavery, and abolished it. Until this year 1t was dis- graced in the eyes of the world because it had 10 luw which secured to others than its own citizens the rignt to. their literary product- jons. That disgrace has passed away also; but there has come upon it the disgrace of asod ~ coinage.” 'The great republic issues dishonest cow, and it is the only nation in the world which does so, ex- copt Mexico, which still coins a little silver. But while the disgrace is upon us, the finan- vial ovils of “debased” coinage are yet to come: for althongh the government issued debased - uin, it agrees to receive it as worth a dollur in payment of duties and taxes, and makes it logal tender, and so it passes from hand to hand for the present as worth a dol- lar. In thisway the government has been able so far to prevent its deprociation. How loug it cau continuo issuing four and one- hatf millions moro of these notes or coius every month and_keep them equal to gold nobody can tell. But one thing is clear; ulti- mately the load must becoms too heavy, and, unless silver rises in value or enough is put nto the dollars to represent their value in gold, or the purchuse of silver by the govern- meut s stopped, we must_sooner or later fali from the gold 'basis to the conditior. of the Argoutine and South American republics. This is now these suver dollars wiil act which have not metal enough to sell for dol- lars when the world begins to lose confidence in tne ability ef the government issuing them to pay gold for them when asked. Sup- pose a number of you had decided to carry a huge log from the woods, and you all ot under, and, bending your mecks, took its weight upon your shoilders, and then somo doubted whether you really could stagger on under the load; and $1ppose two or threo of you, after casting timid glauces at each other, concluded you had better get from under; what would be the resuit! Tne lack of confidence would probably result in_kill- ing those who wero foolish enough to remain, It is just so with this delicate question of the measures of values, A few speculators or “gold-bugs” will resolve that, come what may, they will make themselves safo and get from under. Kven in the ‘mind of the most reckloss there will be some doubt whether the United States aloae can tako the load of the world upon its shoulders and carry it, when all the other nations together are afraid to try it, and whon no nation in the history of the world has ever succooded in giving permanent value, ns o standard for money, to a motal that did not in itself possess that value. Mark this: that our ernment has only succeeded so far in doing this with its silver dollars because it has issuod only u himited quantity, and has been able to redeem them in gold—just as you could take a piece of paper and write on It, *This is good for one dollar, and I promise to pay it.” That would be your **fiat” money. The question is, How long could 3 peoplo to tako these slips for dolla soon would some suspicious man suggest that you were issuing too many! And then these slips wwould loso reputation; people would be- gin to doubt whether you could really pay all tho dollars promisod "1t called upon, and from that moment you could issue no more, Just 80 with govornmonts. All can keep their small change afloat, although it may not contain metal equal to its face value, and it is a poor government which caunot go a littlo further and get the world to take some- thing from it iu the shape of *money” which is only partially so, But then, remember, government will soon vxhaust its oredit continues to issuo as *money” anything but what has intrinsic valuo as motal all the world over. Kvery nation has had oventually to recoin its “debased” coin or re- pudiato its obligations, and go through the perils and disgrace of loss of credit and posi- tion. [n many instauces the “debased" coin never was reaeemed, the poor people who Bold it being compalied to stand the loss, There is, howover, one valuable feature of the presont silver law which, if not changed may stop the 1ssue of many wmore ‘‘debased sliver dollars. It requires that 2,000,000 of the 4,500,000 ounces of silver purchased each mouth shall be colned into money for one year, After that, only such amouuts are to be coinad as are found vecessarv W rodeem otlier purpose: leaving not more t month for comag [ the silver notes issued. | piling up in its vaults every month 4,500,000 | coin it in As people profer the notes to the silver, little or no coinage of silver dollars may be necessa ry, and only siver notes will be issuod, When the gov- ernment ceasos to coin silvor dollars, it will stand forth in_its true character before the people—that of a huge speculator in silver, or, rather, as the tool of silver speculators, ounces, not In the furm of “'money,” but' in bars, Surely this cannot fall to awaken the peoplo to the true stato of affairs, and cause thew to demand that the reckless specula- tion shall conas It 18 in every rospect less dangorous, b . to b the silver purchased in bullion than to ebased doliars,”” because it ren- ders it casier at some future day to begin the coinago of honest silver dollars —thatis, coins alning the amount of silver motal that commands a dollar as metal; instead of grains of silver, 450, or or more or loss, should b used. This is Justabout the amount the wovernment gots for each dollar. No possible act of I tion that [ know of would produce such lasting benefit to the masse 19 people of this count But ond material benofit somoth much higher is involved—the honor of the republi The stamp of 1ts governmeut should certify only that which is tru 1" do_not suppose that there are many me in the United States, except owners of sil who would vote that'silver tuke the place of gold as the standand of value, LI the peoplo understood that the question was whether the ono metal or the other—silver or gold— should be od as the staudard, the vote would be aimost unanimous for gold, its superiority is so manifost. Yet such is sure the although the advoeates of silver disclaim any intention to disturb the go standurd, saying they only desire to elevato r and give it the position which gold uey. But you might have two lorses ce or to have two of You might as well argue for two national flags in oi itry. Justus sur as the citizen tas o elect tho bauner under which ho stands or falls, so surely must he eleet gold or silver for his financia wdard article cannot be ma anything else, any ul stripes can be mado ty with any other flag in for there is this law about ** st drives the best from the field. reason Tor this is very clear. Suppose you get in change a 85 gold pieco and £ in silver, and there is nodoubt whethe an act of congress will really prove effectiv in keeping silver equal to gold in value fo ever: nincty-nine peopie out of a hundred may think that tho law will give this perma- nent value to silver, whioh the article itself does not possess; but oue wan in a hundred may have doubts upon the subject. I think the more a man kuows about “money,” the more douhts e will huve; ana, although you may have no doubts, still the fact that I have doubts, for instance, will lead you to say: “Woll ho may be right;” it is possible I may be wrong. 1 guess 1 will' wive Smith this silver for my groceries tomorrow, and give the old lady this beauti- ful bright g 0 put by : it needs 1o act of ots of congross in the world cannot lessen its value; the metal in 1tis worth # auywhere in the world, inde- pendent of the government stamp; theso five gieees of silver ar worth only s5.75 as metal. Fos, ] shall lot Smith have the s gold is &ood enough for me,” ‘And you n be sure Simith vnloads the silver as soon as he can upon Jones, And many people will believo and act so, and the gold in the country will disappearfrom busi- ess and silver alone will be seen and cir- 3 every man that gets 1t giviug it to on a3 he can, and so kecping it lation; and ever, a old holding it, and thus keep- culation. So instead of having more money, if we goin for trying by law to force an artiticial value upon silver in order to use it as monoy, we shall really soou have less monoy in circulation. Tho $700,000,000 of gold which S nOW in g cir- culation and which is the is of everything, will speedily vanish, the vast structure of credit built ‘upon it be shaken, and _the w »{ the peoply compelicd 1o receive sitver dollars worth only 75 cents, in- stead of being, as now, redeemable in gold and always worth 100 'cents, For, rew.em- ber, as I have told you, 92 per cent of all op- erations conducted by “monoy” depends upon people huving absolute coutidence in the Smoney” being of unchaageable value, Tssuo $100 of *'debased” coin more than all men are sure can be kept of unchangeable value of gold—panic and financisl revolution are upou you. More “money,” you see,which could ol sed in 8 per cent of our small- est financial transactions, can easily be so is- sued as to overwhelm all the important busi- ness of the country by shaking “confidence,” upoa which 92 per cent rests. To be always free from danger is tp is- sue only such “‘money” as in itself has all tho value certitied by the stamp upon it. So jealously does Britain, our ouly rival, adhere 2o this that she is. spending two millions of dollars just now to recoin gold coins which have lost a few cents of their- value by wear. Her government stamp wust always tell tho truth, The ropublic should not be less jeal- ous of its honor. As you have seen, the silver men were dis- appointed at the failure of congress to ud- vance the value of their siiver. Twice the government has been induced to do as they asked, under assurances that complisnce would surely get the country "out of its dan- garous position as the owner of silver; twice it has b een deceived. You would think the silver owners would now admit their error aud help the government to get back to s: ground with as little loss as possible; Iar from it; instemd of this they have taken the botdest step of all, and urged upon cougress what you have heard a great deal about--the *free coinago of silver.” Now, what does that meant It means that our government is to be compelled by law to open’ its mints aud take all the silver witi which European governments are loaded down, aud part of all the silver mined in the worid, and give for cents worth of it oue of these coins, h you are compelled to take as a full doi- lar for your lavor or. products. It means that the Kuropean merchant will send sily er over here, t coined at our mints or gev a silver doll or it, and thou buy a full dollar’s worth of your wheat or coru, or any- thing he wants for the silver he could get only 78 cents for in Kurope' or any- where else in the world. « Jiurope Is doing this every day just now with India, tho Ar- gentine Republic and other countrios upon a silvor basis. The British morchant buys wheat in India upon the depreciated silver basis, takes it to Iurope and sells it upon the gold basis. He has thus to pay so little for Indian wheat that it has be > 0 dungerous compotitor to our own iu Kurope, which it cotld not be except that by the fall in silver the Indian farmer gets so little value for his products. 1t is only a few months since the new silver Dill was passed requiring the government to more than double its purchasos, aod alveady £,000,000 of silver more than we have e ported has bean sent into this country frow abroad —somothing unknown for fifteen s, for we have always oxportod more sil- | yor than Now wo aro | buying all our own mines furaish, and belng | burdened with some from Europe, for wh eh | we should have recewvod gold. ot the month of oud $9.000,000 11 gold; prosent silver law you ready bogun to send us her deprociated silv and rop usof our pure gold—a perilous ex chaugo for our country and one which should fill onr legislators with shame. Understand, please, that hitherto, under both bills com* pelling the government to buy silver, bad us these were, yot the government has ot the metal at the market price, now about cents for 8715 grains; and only this amount the governmout has put into ‘tho so-called aoliar. Under *free coinage” all this wjill change, Tho owner of the silver will thon Kot the dollar for 73 cants’ worth of silver. For pure, cool audacity I submit that this proposition beats the record: and yet when tho farmers’ alliance shouts for fred colnage, this is exaotly what it supports—a scheme to | take from the people 22 ceats on each dollar | and put it into tho pockets of the owners of silver. Suroly you will all agree that if 78 couts’ worlh of silver is to be made a dollar by the goverament, then the government, and Dot the silver owner, should get the ext cents’ profit on each coin, if it succeeds. T'h govarnment noeds it all; for, as 1 told you be- | fore, the silver bought by the government only at market value could not be sold today without o loss of millions. |CONCLUDE® NEXT WEEK.] much issuo, than sharo its its own money " The e a bit of it out of ci April_we have sent s0 that under our sea pe has al e —-— A New Moy Leslio & Leslio, 16th aud Douglas, Frice, Millard Hotel, Hughes, 2324 Farnam, 684 N. 16th, Clark b & Woolworth ave. | A, Shrotor, 1533 Faroam. | All the above named leadiug druggists | haudle the famous Excelsior Springs, Mis In cighteen | 4 |FOR “8ALE--ARTISTIG HOMES Cor. of Cass and 28th Sts. ,—Bl’k South of Creighton College. 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Oflica Lours Sema s¢amp for roply CORTLAND WIRE -- CLOTH 1 142¢ pet By the roll 1.40 per hundred sq. f. ames Morton & Son Co. 1511 Dodge Street, Omaha. Tel.437. I CURE FITS! | | Stuwhaus i o e o e Lt K/V&(‘W)‘M& Co e I e & o B3 Poockow Blede va,wm/ ek, 100 m. to 12 m square foot. LEPSY or PALLING BIOKNESS a life long study, warrant my remody Lo cure the worst cases. Because others have failed is Bo Teason for not now receiving & cure. Send at once for & treatise and a Free Bottle of my infallible remody. Give Expross and Post C ourl. waters and Sotarian Gingar Ale. H. Gr ROOT. 3. C., 188 Pearl Sty No Yo A oman may Sew, and a woman may spm And avioman may work all dia Buit ! _when S"’NTAC"USeS"AF comes o p! ber house Then vanish all froubles aw.ay. SANTA-CLAUS-SOAP - [S-MA ADE: CHLY BY N.H.FAIRBANK. &.60.LHICAGD. HOUT EXTRA CHARGE Hereafter WONDERFUL painless extra CHARC ber of teeth out preparatory to we will give LOCAL ‘tion teeth, ANAESTHE WITHC of A full set rubber, $5. A full set of tecth, tic plate $10. A full set of teeth, lined rubber $15. A full set of teeth on ul- uminum $20. Gold, Silver, of teeth on olas- gold Alloy, Bone and Other Fillings the public tha benafit of the STIC for ‘the ¢ JUT EXTRA A big reduction to those having a num- having new A full s ation A full set wold . ®A full sot of tecth on continuous gum $50. teeth, 't chase combin- gold plate of teoth on Lowest Rates. Dr.R.W.Bailey, Dentist, 312 Paxton Bl’k, 16th and TELEPONE, 108 ENTRANCE, S| NEW YORK DENTAL Farnam. XTEENTH STREET! PARLORS N. E. Cor. 14th and Farnam Sts. DR. nd GU sant We are ma ki rubber, also make the Mor ris thin elistic plate. which 18 tho pl as card board, and WILL NOT BREAK in the mouth With our NEW PREPARATION tecth are extracted the patient remnaln ing conseious, Open eventnzs until 8:30; Sundays 10 o, m. to p. m. Braneh of L B I{O\VN K. for $4,00. Wa 5 thin ARANT v plate to wear, | ABSOLUTELY WITHOUT PAIN Meo 256 N, St., South Omaha All work warranted as represented. *IWAIT[*[ " The Only Big City Show Coming This Year. RDT/\M » FOREPAUGH « world and I AN L iuhost tonfod axhibition in the ROUS, WILD WEST, TRAL JRES that will come b Omaha Neb., Friday, J uly 24 oro this seus * SHAOWS, only colossal combinntion of IMALS, ATED LIONS Hbit afternoon o I4 MAMMOTH PAVILIONS, SEATS FOR l(][][]l] st tnie seon In Amier BOONIS and Miss OAIRLOTTA performing Shile e o IN A OCIROUS Ouly In the Adam Forepaugh Shows, scen at HANLON-VOLTE E1L000.000 Inv y porformance, the w THI RIS b Daily cxpenses, 4 rail RING. AP Orld's gro Flulits, th IR DEATH-L EFYING FOR LIFE way traine Three T-mes the Most Siupendaua Menagerie Twice the hibited under canvas od and i1ty 1the slogieal wonder Nile. Enough z culted from ovory ¢ s this sido (h phitheatre und the 3Great ngs. * Gra.nd Elevated Stage, * rann s driy animils, Huga Roman Hippodrome 1 WILD WEST EXHIBITION, THAINEI] WILI] BEASTS FORBPAUGH JI? NOTE : Tunging i Horse Kecl on Horsebuck, sharpshooters ited elophants, ¥ nine oireus. Hons [00se playin AW, 016, Dl Lorses, ponles, and all king 20 edu b churlots, s I the cir there will b truthfully 0 men and he strutientalists, 3 this kre in0 thepe 1s actually und The Splendi i Dzzing il (i0ld- ('hflmwr I’wvnmt A sel Inirs nly oty forenoon of exhibition duy ntill i an i o and eiven i T PRI WO R RV O W dy of exhibi Is seon ov mass of gold and € onts on AL L on, Ghost Danee Thief. Anfn and trotting hor Evety kind of ex Mossiuh Craz Mohlery { " Oapt. A Bozardus o horses Tricyclis ,000 stud pertormln and reacing, riding rforming monkeys, o anin t moving ua lend g uliton W ar uring At urap wils on the I Al tio W This 1s the Only Great Show Coming here thI‘A_Y ar. CHICHESTER'S ENGLICH, RED CROSS ENHVROVAT # Kepuse P N1AMOND BRAND \Lu® Sbiitions ol fnis .:‘.n: M o Mull \ea aw PRSP