Omaha Daily Bee Newspaper, July 14, 1895, Page 10

i B s s s a7k THE OMAHA DAILY BEE: SUNDAY, JULY 11, 1895. oin at School in Finance FOURTH EXTRACT. At the next session the attendance had fallen off somewhat, the curiosity-seekers, who were drawn at first by Coin’s reputa- tlon as a regular man-eater, having grown tired. They said Coin was making no fight at all. The audience was a good one, how- ever, and composed of intelligent persons who were iInterested in the money question. It was agreed that Coin had as com- pletely failed to sustain himself in his his- torical case as in his decline of prices. The Judgment of the statesmen who established our coinage was shown to be against the theory he was advocating, i. e., free coinage regardless of the commercial ratio, regardless of the position of other countries and re- gardless of the disturbance of commercial values, Coin was on hand with a determination to make a better showing than on the pre- vious days and many thought he would be able to. They said he wouldn't run against €0 many ineonvenient facts in discussing the mere theories of money and would have a better opportunity to use his sophistry and imagination. He began the discussion by announcing that he would now proceed to prove that all of the gold in the world available for money could be put in that room. Instead of the murmur of astonlshment which he expected, everybody looked a little bored. “You can have that field to yourself,” sald the bimetallist. *I do not consider it perti- nent to this discussion. You might get into an argument with some gold standard man over it, but I expect to see both metals used for money, and favor both. Furthermore, all of the commercial nations will unquestionably Join us in the use of silver if this question of ratio, which has wreoked the double standard, can be permanently settled. There wouldn't’ be gold standard men enough in any country to hold a meeting if the in- tripsic ratio between gold and silver for the next hundred years could be absolutely known. If you know how to fix the ratio permanently you need do nothing eclse, and it you cannot do that you meed not talk at all to people who understand the subject.” Coin looked perplexed, but finally said that the way to resume was to resume. The ratio had been fixed by the inspiration of our fore- fathers 100 years ago. We should not per- mit it to be changed. “You have forgotten that they changed it themselyes sixty-one years ago,” suggestel the bimetallist. Coin was embarrassed, but he did not re- ply. He said that he would proceed to show that the decline of silver had been caused by unfriendly legislation; that it it had the same access to mintage now as for- merly the old ratio would hold good. He woull show, he sald, that not only the United States and England, but Franc Germany, Norway, Sweden, Denmark, Hol- land, Russia, Austria, Switzerland and Bel- glum had cessed the free coinage of silver, and all, except Eugland, since 1871. The cassation of their demands for coinage pur- poses, he said, accounted for the decline. The way to check the decline and restore the price was to reopen these mints. “I would like to ask at this point,” sald the bimetallist, “how many of these mints you expect the United States to reopen?” POWER OF UNITED STATES LIMITED. Coln stammered that of course the United States could only reopen its own, but that it was our duty to do our part. “Yes,” sald the bimetallist, “it is our duty to do our part, but this is not a task thai can be half doae with profit. “I would like to ask,” sail the traveling man, “how the relative production of gold and silver of the world compares with what it was in 1870." “T will glve It In fine ounces,” replied the bimetallist, “so that the change in values will not complicate the statement: Gold. ~ Siver. 43,001, 1 161,776,000 “The production of gold in 1892 had in- creased somewhat, but the production of sil- ver had nearly quadrupled.” “It looks like @ pretty big job,” said the teaveling man, doubtfully, “for the United States' alone to try to hold silver up to the oM ratio, with all those countries dropping its use and the supply so much increased, DIdn't you eay our forefathers changed the legal ratio once to correspond with the com- mercial ratio?" Yes, 'And in determining what the ratio should be, did not Jefferson adylse congress to Ig- noro all legal ratios and take the average values In the countries with e had commeree?" “And wasn't that what guided them to the selection first of 16 to 1 and afterward to 16 Well, 1 don't see that there is any di- vine ordinance or revelation requiring us to adhere to 16 to 1, after the conditions which orlginally recommended that ratio have changel. I should think it was a pretty good tiwe to imitate our forefathers by changing it again.” T would not submit tien,” said Coin. “Silver would be worth as much as ever (I think) If the forolgners “would reopen their mints to it. Silver is one of our products, and we should not submit to their dictation. 44 don't know abont that,” said the travel {ag man. “If Europe should quit eating wheat would it affect the price?"’ “Undcubtedly."” “Would you recoguize the changed price op refuse (o~ submit to (his foreign domina- to foreign domina. This silver business,” sald Coln, evasively, ‘s a canspiracy to strike down our money, amd we should not yteld to t." 1 belleve that in ocur experience fluctua- tions between 15 and 16 to 1 were sufficient te send all of ome metal out of the country,” sald the traveling mau. Yes. And.mew with the commercial ratio at about 32 to 1 you want to open the mints at the old legal ratio. Do you think it wise to fasist_{hat the ratio is unchanged ™" “I am opposed to submission to the dic- tates of England, said Coin, flercely, and shaking his fist, “f don't khow what you mean," said the taavellng man. “If the English goverument 'has been making any demands upon our gov- _efament lo this conngetion, M s certaluly o 4 RRARA A ) § g § § 3? % § { % % | high-handed outrage. 1 haven't heard of any." WHAT ENGLAND HAS TO DO WITH IT. “Oh, of course they haven't done that,” said Coin, “but this depreclation ofs silver is English policy and it is the tools of England who are doing it."” “Well,” said the traveling man, “I didn’t suppose a man would ever become accused of subserviency to England by following the ad- vice of Thomas Jefferson. Now, whatever has caused the commercial decline of silver, it seems to be down. I am all right for a fight where there seems to be a tangible issue, but I don't like tq fight a phantom. 1 want to be practical. This is a business question. It involves, as I understand it, the financial honor and credit of this country. What assurance can you give that the world will accept our rating?' I want no assurance for myself,” de | clared Coin, dramatically, “I would publish a new declaration of independence, and serve notice on all foreign powers that we didn't care what they thought of our money “It ‘makes some difference what our own people think of it,” said the bimetallist. *“As Hamilton said in 1792, ‘In no country do the authorities have less power to substitute names for things.' And I have no idea that any amount of sophistry mow can lead the people away from the safe rule that our primary money, the money of redemption shall have in itself the value that its face proclaims.” You beg the question,” said Coln. ““The term dollar is a legal one, and applies in this country only. It has been applied to 371% grains of silver for 100 years.” “We have (wo distinct dollars in our cur- rency,” sald the bimetallist. “Grant your point that each is legal, they are not harmoni- ous. We call them by the same name, and yet in every country outside of this one will buy twice as much as the other. We keep them interchangeable here by the action of the treasury, which stands ready to exchange one for the other on demand.” “What would be the result if we adopted free coinage?” asked the traveling man. PROBABLE RESULT OF FREE COINAGE. “I will try to describe what would hap- pen with our mints open to free colnage of both gold and silver, at the ratio of 16 to 1. As there Is no country in the world where sixteen ounces of silver Is rated above half an_ounce of gold, there would be a great profit apparent in shipping silver to the United States and exchanging it for old. A thousand Mexican dollars could be shipped to this country and exchanged for gold at 16 to 1, the gold then taken back to Mexico and_cxchanged for 2,000 Mexican dollars, these In turn brought fo this coun- try and exchanged for gold as before, this Eold taken to Mexico and exchanged for 1,000 Mexican dol— “Gee!" exclaimed the traveling man, “that *fellow could afford to quit after five or six trips.” “While he was making his trips there would be a similar movement from all parts of the globe.” “They would think cut, wouldn't they?” man. “Nonsense!” sald Coln. “Would any owner of Mexican dollars part with them at less than ho knew they were worth in the United States? Of course not. Every owner of silver would advance his price to_ their value :n the United States.” “That would depend entirely upon his confidence in the United States to take all the silver that was offered and glve gola for it. It would be like confidence in the ability of a bank to meet its obligations If it can certainly do it nobody asks it t it there is any doubt about its ability, everybody wants It to. We would be run- ning a_gigantic ‘bull’ movement in silver, It would be like forcing up the price of wheat on 'Change. The essential to succe in any movement of that kind is to be able to take all of the article that may be of- fered and pay the price you want to estab. lish. 1If you do that you make the price; it you fail you go broke and have no in. fluence whatever on the price. The United States has lately been in pretty close quar- ters for gold to support even its own silver and paper. There would be no confidence that it could hold up the world’s stock of sitver.” “Suppose,” sald the traveling man, “that the price of silver advanced. What would be the effect upon silver production?’ “It would be greatly stimulated, of course by doubling its price, and we would have to hold up the price of it all.” “What are you talking about?” said Coln petulantly. “The United States government would not be obliged to redeem silver with gold. It would simp’y coin all the silver of- fered, make it a legal tonder, and give it back to the owner.” The bimetallist smiled, but let the travel- ing man speak firat. Tho latter looked 4 little perplexed but sal “My observation is that ‘Bluff’ doesn't go far in money matters. If the United States is going to ralse the price of silver as com- pared with gold, it must stand ready to buy silver and give geld for it at the ratio named. Anything else is mere wind, and influences nobody."” . ““You have mastered the subject,” said the bimetallist, with a laugh. “Do you' think,” said the traveling man to Coin, “that any private citizen will let his £0ld go at the 1 to 16 ratlo when the govern- ment will not agree to replace It on those terms and he knows that he can send it abroad and get 32 to 17 1 don’t think, Mr. Bimetallist, that the Mexican dollar specu- | lation woula work. 1 dow't think a single piece of gold could be had fn this country at less than the cemmerelal ratio abroad “In that cass said the bimetallist, would not even increase our stock of silver except as the acarcity of money, eaused by | the-loss of our gold and paper, mado intorest rates higher and so stimulated the importa- tion of silver, or as gold was sent abroad to buy it at the ¢ merclal ratlo.” | EFFECT OF FREE COINAGE ON GOLD. “It {5 perfectly plain 1o me how it would work,” said the traveing man. “I see that | tho government has the power to make sil- tender, regardlcas of its intrin. | and compel the people to take it. It might éven decree that hereafter half dol- | 1ars shall bo » legal tonder for doilars. would, as you have explained, onable banks to pay off thelr depositors, insurance compa nies (0 pay their losses, and employers to pay their help on those terms. But the govern. ment cannot compel me to pay out a $20 gold picce that I have in my pocket, and you wmay put it down that T never will do it until the ment ugrees to sta But there sald was a melon the traveling That | | rise up at least half way to meet us, and BY George E. Roberts. A o again. 1 will club with some other fellows and send it to Mexico, where it would be | worth two for one." “But the government cannot afford to re deem silver in gold,” explained Coin. ‘it | might lose all of the gold it has in twenty- four hours, and it would have no way of getting more but by selling bonds, and that will not do. Besides that would be making silver dependent upon geld, whereas it is its full equel. It is an fnsult to silver to ask its redemption in gold.” “Well,” sald the traveling man, with symp- | toms of that tired feeling, “if you think you can convert the worid by faith with- out works, you are mistaken. The holders of gold will keep it, and instead of gold and silver in circulation we wil have silver ““You don’t appreciate the size of the coun- try,” said Coin. “You are not a patriotic American. Any nation that is big enough to take all of the silver in the world and give back merchandise and products in pay- | ment for it will at once establish the parity between it and gold.” (Coin, page 135.) “This government,” sald the bimetallist “has no merchandise or products to exchange, and whatever the government may resolve, its citizens will not exchange their property | for silver at any other than the commercial price. Though our people may be a little confused sometimes on rational policies, they are quite thrifty in thelr private bargains. They will never go out to the four corners of | the earth and pay more than the market | price for all of the silver they can find, not [ knowing what they can do with it after they have it." T think not,” said the traveling man, sig- nificantly \ “Well, suppose we go to a silver basis,” | said Coin. “See how many more dollars our wheat would bring if, instead of giving a bushel of wheat for the present standard of gold, the standard was cut down one-half. See how much more our exports would bring us, and India and South America could no longer undersell us." “Any increase in the price of the wheat consumed by ourselves would be paid by no- body but ourselves. I suppose you will admit that?” said the bimetallist “Well, yes,” sald Coin, rather reluctantly. “The bread-eaters are the masses. It would come largely out of the wage-workers. Unless their employers immediately raised their wages they would be worse off than at present. If their employers raised . their wages the prices of their products would also be raised, and the farmer would lose all that | he gained on his wheat. If the producer on the farm did not get the best of the pro- ducer in the factory, or vice versa, they | would both be where they started from, un- less the middleman in the shuffle gathered a slice of the advance, which he certainly would. The middleman and speculator sel- dom get left in a shuffie.” ow, as to getting more for exports: When a_shipload of wheat from New York lies beside one from Buenos Ayres In Liver- pool, Havre, or Hamburg, what figure do you suppose the coinage laws of North and South | could not wipe out unit. On (his the security and steady valus of_property ntially depend.’ “We have not messured values in silver for sixty years, and to go to a silver basis would change the price of every plece of property and the yalue of every contract in the United Stalps, and work great in- | sustice to manyipédpie SOLELY A QUESTION OF JUSTICE “The sense of right and wrong should preclude any ‘Bar from being influenced by his own Individual relations to the change, whether he would profit or lose. We want what,is just and equitable. “The plea to deblors that it would help them is not only’dishonest, but deceptive. It would prove as disappointing as the various acts ofystpte legislatures, by which much capital has been driven out of some of our states, and In consequence of which many debtors in these states have been unable to rencw thelr luans. Coin ad visos his followers that ‘all notes, mort- gages and contracts payable in dollars are payable in whatever is the dollar of account when payment is tendered, and if the gold dollar is reduced in size the new dollar would be legal payment of debts contracted before that time calling for dollars.’ “That s to say that If last year you borrowed $100 and received it in our pr ent gold dollars or their equivalent (which is any of our present money) and congress should now cut down the amount of gold in a dollar one-half, you would thus avoid paying the other haif of the debt. That may be a powerful Incentive to some people to join Coin's standard, but I doubt if my friend here (nodding to the traveling man) is one of them, “I am not one of them,” said the traveling man, decisively, “and there is not the slight est danger that the people of the United States will ever enact such a monstrous law It would be a disgrace to free government It would be a blow to our credit from which this generation would not recover. It would be a stain upon our record that our posterity 1t would be a caiamitous blow to integrity and morals in the world Occasionally a community suffers a great shock by the fall of some man whom it has been accustomed to look to as an example for the young. Of this nature, but incompara- bly greater than the shock that could be caused by disappointment in any man, would be the blow realized by the civilized world if this great republic should stoop from its leadership in civilization, after a career of unexampled prosperity, and, upon the specious excuses of Itinerant visionaries, repudiate its debts. They never will do it if they compre- hend its enormity. The American people are honest and they are jealous of their honor." “Oh, pshaw!”" waid Coin, “the equity s on the other side of the case. Since the crime of 1873 money has been advancing as cc pared with other property until 50 cents is worth as much as $1 was then. It is neces- sary to do this to restore equity.” “I never knew an act so dishonest or mean that some excuse had not been prepared to cover | ald the traveling man. “‘The fel- lows who rob trajns have a way of laying the responsibility somewhere else. The first step in all immorality is to soothe the conscience to silence by somc plausible thecry. The pub- lic which looks on with a disinterested eye is never deceived, and you can depend upon it there will be no two opinions in the civilized world about the act which you propose. The effect upon the character of our own people would be deplorable. The sense of discrimi nation between right and wrong is easily lost when you begin (o alter the rights of others by your own arbitrary power. If you do it once there will be people to favor doing it again. They will find arguments as plausible as yours and have your precedent to help them. “Furthermore,” he continued, warming up, America cut in the price? o more than our system of weights and measures. We “how many contracts are there in this coun- 4” ! Ik IMPROVED CONDITION OF THE LABORER. might as well practice the fiction of getting more for our wheat by reducing the bushel to fifty pounds. Each seller gets his pay in English, French or German gold, and con- verts it into exchange on his own country, and the more the lalter fluctuates the greater must be his margin to protect him from loss. In January, 1865, our paper currency fluctu- | ated from 134 to 160 in gold. The dealer who bought from the farmer in paper and sold to the forelgner in gold had to have a margin to cover these fluctuations. ~That is a terribly costly way for a nation to do busi- ness, and no country can compete under such conditions with rivals who are free from them." COUNTRIES ON A SILVER BASIS. “But,” said Coin, “‘nations can prosper on & silver basis. Mexico is prosperous. We prospered during the war on a paper basis.” “It is true,” said the bimetallist, “that business will adapt itself in time to any con- ditions, and if a country has great resources to be developed It can stand great losses for a time. But the day of setflement, which came in the panic of 1873, must always come. Mexico has always been on a silver basis She has not changed to it, and it would prob- ably bs unwise for her to change to gold. The decline in. silver has come gradually to her and her values have adapted themselves to it, but it Coin ever gets siiver advanced again to the 16 to 1 ratio, look out for a mmercial cyclone in Mexico. The value of all property in that republic will shrink one- half. 1 commend this prospect to his b nevolent consideration, in view of his touch- ing appeal to help in the ‘emancipation of the western hemisphere.’ And if he takes the United Stater down to the Mexican level, and raises it again, business in this country for the next twenty-five years will be a | gambling game. “To do business for the.ordinary profits the producer and middleman must bave some basis upon which calculations for the future may be based. Boats can ply on the Niagara river above the falls and also below the falls, but to move all the bus ness of a country back and forth from one basis of values to the other is about as dis- astrous as it would be to run boats up and down the falls. “Coin has one theory that by steering | straight over the falls the water below wili another that there is just as gcod boating below as above. Neither theory is adap to practical affairs. No statesman who has a sense of the vast responsibility cn him for the earnings, the property, the solvency and the happiness of the millions who in | thelr daily avocations make little allow- ance for the interference of the government, will pursue such a reckless course. The in: terests affected are tco vast, the damage appalling and irreparable “In the language of Alexander Hamliton, | ‘there is scarcely any point in the economy | 1 behind me and | of national affairs of greater moment than guarantees 1o replace it for e if I want it | the uniform preservation of £33 money | | taining but half | ceive? | sion | years of hard times. | tingencles try now made prior to 18737 An insignifi- cant proportion. You propose a sweeping act to correct an alleged injustice in these few cases. Thousands of men have borrowed money since then and used it profitably and you would relieve them of paying one-half of their just debts. In the thrifty villages.of New England thousands of working people hold western farm ' mortgages. Scores of loan and trust companies have been making these loans and selling the mertgages. The latter represent on one side the savings of labor for old age; on the other side the capital with which men of small means opened farms. These Btates have prospered Except as some have ‘suffered’ from drouth these farmers bave 'generally prospered. Their farms, which they could not have im- proved but for: these loans, have increased in value. Is It just;that these mortgages should be scaled dnv\g ane-half? The sav- ings banks of this fountry hold nearly $2.000,000,000, belonging to 4,830,598 dcp . itors, an average of $369.56 to each. Compara- tively little of i was deposited prior to 1873 Is It just to #ae-these’ deposits one-half? The life insurfeee companies owe their policy-holders dbout $600,000,000 paid-up in- surance. Is it REt 10 authorize them to pay it off at 50 cenfs on-the dollar? The bulld- ing and loan assfelaticns hold $56,852,882, bo- longing largely fo wage-workers. Is it just to reduce this fyalue one-half? Is it just that the wage-forkers should, by act of congress, be corgpelied to accept ‘a dollar con- he value that they now re Is it juddghat the old soldier's pen- shall be recifped one-half? These are some of the provglons concealed in your grand omnibus ~uch of infamy. When the Amerlcan peoplsTtee All that it includes they will make short work of it.” “I believe you,” sald the bimetallist, “and your_indignation' %'isd just and high minded that™it seems atmost like an insult to the American peopldito add a suggestion that fu this, as in albsoases, honesty is the best policy. But pefbdps-iWe shoull present that view of it as well. What this country needs now is peacea respite from agitation that threatens values. We have had two Every one, whether he believed in the taml or mot, was glad when tariff agitation ceased. This 15 no time for proposing changes, avowedly to alter values Speculators may like such conditions, but the average business man is not a gambler He wants stability. He knows there are enough, at best, to disturb his calculations. 1t 1s death enterprise to have such vast and far-reaching disturbances thredtened, It means continued stagnat) idle men, poor trade. want and rui “Even tho class, which I hope is small who go into this movement to get rid of their own debts easily will ba disappointed. You can’t get rid of a $1,000 debt for $300 unless you have tho 8 A larg: share of the in- debtedness of 'tha couniry is not pald off when dua, but renewed. refunded, or paid in instaltments. Peopl> csunt on this practice, But what conditior would the country ba in, it in addition to #5.presamt business distr 1t should be called upon to pay all indebted- ness s fnnh an it was due?” “Don't threaten the Americ X shouted Coin. g | “Nobody is threatsning people,” said the bimetallist. | _“But it is foolish to do an act of far- reaching importance without considering | the natural results. What will the American | people do with cach other? There are millions of people concerried, and each will do in his own business affairs what will | serve his private interest. Fach debtor { will have the privilege of making payment | In Mr. Coin's sealed dollars, but each cred- | itor will “have the privilege of refusing | to extend the loan, and taking the usval steps for collection. This is no threat It is a_statement of what the conditions would be. * Viewing both sides of the case, were conditions more favorable to the develop- ment of shysters on one side and Shylocks | on the other ever created? “That 1s s0,”" sald the traveling man “The plain, honest people, who want to pay every dollar they owe, and do not want to collect a cent more than is their due, would be at a great disadvantage in.such confusion as that HONEST MEN WANT HONEST MONEY. “‘Plain, honest people, who don’t want to either skin their neighbors or® be robbed themselves, would be in despair,” said the bimetallist, “and if they happened to live in another country they would probably et their money out of here as soon as possible. There are millions of foreign cap- ital here, and our interest rates have been mich lower than they would be without it. The country has developed much more rap- idly than would have bee it and under higher interest rates. We want this capital to stay here and more of it to come. The resources of this country are scarcely scratched over. There are great industrial works which would go through if interest rates were low enough The farmers could use capital to drain and improve their lands, and so in every de partment of industry production can be increased by its use. Great benefits have come from the reduction of interest in these western states from 10 per cent in 1873 to 7 per cent now. It does not pay to destroy confidence in this country as a place for investment." “Load the forelgner and his money into a_cannon and shoot them home," said Coin. “They are a burden to us, They are blood- suckers. They keep us poor. The interest eats us up. One dollar at 6 per cent com- pound interest for 100 years amounts to—' “Enough!” cried the traveling man. Enough of that! I have learned something about the development of this western coun- try sinca I have been out here. I know now that most of these loans have been made for investment, for the development of the coun- try, and the borrowers have made profit on them. I haven’t forgotten the question put here the other night: ~ Why did Governor Alt geld build a sixteen-story building and put a mortgage on it instead of one but one-half as large that he cou’l have owned clear? And he did it since he began to howl about other people’s debts. Of course, anyone would rather own a given plece of property without a mortgage on it than the same property with a mortgage on it, but Altgeld is an ex- ample of thousands who see mcre profit in property with a mortgage than less proper without one. Every man runs ‘is private a fairs to suit himself. As likely as not, it we did shoot all of this foreign money home, Altgeld would be sneaking some of it in again to build more sixteen-story buildings. For my part, I say, let it come. Altgeld Is the best judge of what he can do with it. Encourage it to come. Give cvery reasonable assurance that it will be repaid value for value, and so much may come that the governor can get is next loan at a lower rate of interest. I ay that our credit is precious and that any blow to it is a calamit “I think,” said the bimetallist, ‘“that 1 might safely turn Coin over to you. And I think you have expressed what will be th common judgment of honest and intelli- gent American citizens when they investigate fully his specious theories “Tomcrrow we will consider the only fea- sible method by which both gold and silver can be retained in concurrent use in any country with free coinage for both.” (Concluding Extract Next Week.) bdlnnlodi bl ODD USES FOR PAPER. the American Horieshoes and Cofiny Manufactured from | Woor £'n p. We have had the golden age and the iron age and various other ages, but the present will probably be known as the wooden or paper age. Paper dress material masquerad- ing as silk, says the New York World, is the latest invention in the paper line, and threat- ens to drive the silkworm out pruce saw dust, cotton or jute waste and aleohol are put into the machine and come ont at the other end shining, delicately colored, rustling silks, suitable for the most fastidious lady's gown. Of course, this paper silk doesn’t ‘wear so well as the real fabrle, but think how much cheaper it will be! Euthusiastic paper manufacturers say the new woman and the new man will dine off paper dishes. It is not improbable that the hat of the future will be an indestructible paper affair, impervious to fire or water. Over in Paris any enterprising milliner will bo able to show you stylish bonnets and hats made entirely of paper, frame, trimming, or naments and all. Parasols of paper do not seem to have been thought of yet, but satchels and trunks of paper are common enough. The paper trunk, despite Its frail sound, is the despair of the biggage smasher. It re. fuses to smash. So do paper car wheels. They have been In use for years on some of the most impor- tant raflroads in this country. It must not bo supposed that the wheels are made en- tirely of paper. This material only forms the interior shell. Having been subjected to tertific pressure, ‘t s moulded and firmly bolted to the outer rim, which is of steel, Greater durability and lightness are claimed for these wheels, but don’t let the idea of lightness lead you to get under one. If you do you may possibly have use for one of the paper coffins which are be'ng turned out at wholesale by a firm at Westfield, Mass. The railroad train of the future is likely not only to have paper wheels, but to ru on paper rails. These are made entirely of paper and are formed in moulds under great pressure. They have been used to som> extent in Russia and Germany and are said to be free from many of the defects of the ordinary steel rail Paper horseshoes are another Furopean in vention. Among the advantages claimed for them is that they maintain a rough surface enabling the horse to get a smooth grip on the smooth pavements. German paper- makers have put on the market a substanc called “papier sculptor,” whith is used in stead of clay for modeling. It Is simply paper pulp kept soft enough to be worked. Papier mache ceilings and wall decorations are very fashionable. They may look like leather or brocade or a thousand and onc bhandsome embossed effects, but th wood pulp just the same The house furnishing department big shops furnish interesting evidenc extent to which paper enters into o life. Paper pails and tubs are appreciated by ‘the suburban dweller who hasn't “set’ tubs. They are much lighter and easler to Keep clean as well as cheaper than the old style. Water coolers are made of pa S0 s the much abused cuspidor. Peach baskets, berry baskets and butter boxes are made of paper and almost every thing under the sun—salt, which used to come in pretty blue and white bags, oat- meal, crackers, ice cream, candy, shoss, cor. sets, dresses—is sent home in a paper box. In Japan they say some folks live in paper houses and in this country paper boats are in use. Nor must the necossary sewer pipe be forgotten. Paper pipes for carrying water, steamn or eleetricity are not uncommon. As conduits for electricity they are considersd safe, even though the wire be not insulated ——~—— THE DIiVIDING LINE. Ladies' Home Journal Away, where stretches that h Where the town and count That line where the city's confl | “And begin the meadows so sw | 1t seems to me that a mystic spell Possesses my heart and brain, When 1 (ross the bound'ry aud eénter awhile f‘ To walk In Nature's domain | 1 feel, an I catch the first sweet breath [~ OF ¢lover-scented air That a higher power my whole soul claims, Ana’I pause for n moment there, And wonder If walting at heaven's gate, | “With all lfe's battles compiete, [ T shall not feel as 1 do when 1 stand | * Where the town and the country meet. Tho new headquarters of the Machinists' International association will be in the Mo- | mon building, Chlcago. The organization is | now formally afillated with the American | Federation of Labor. of business. line, y moet lie, possible without | HARDSHIP OF BORDER WARS An Incidsnt of the Orook Expedition Against the Sioux in '76, PERSONAL EXPERIENCE OF GUY V. HENRY Fain and Privations of a We Hundreds of Miles from Tortures of Three Weeks' Travel to Ho nded OfMocor Civilization— o and & Doctor. The events which culminated in the Indian campaign of 187 writes General Guy V., Henry in Harper's Weekly, and subsequent battles of the Rosebud and Big Horn, the latter better known as Custer's massacre arc familiar matters of history, so that 1 shall confine myself to my personal experi- ence at the former action. My purpose in doing 0 is to show to our people what is s0 little known of the hardships and suffer- ings undergone by our officers and soldiers in Indian campalgning—of all warfare, the most dangerous, the most trying and the most thankless; the first, because your foe 18 behind cover; the second, because you are often -on reduced rations, exposed to intense cold, fites often being forbidden; it wounded, there is no transportation or possible care; if left on the fleld wounded, torture of the worst kind awaits you buried, your body is exhumed for desecra tion; thirdly, the sense of duty performed in defense of the weak settler is your only reward. While in what was called the “Valley of the Shadow of Death.,” in that little depression in which that terrible conflict took place when death's grip was upon every man’s throat, while mounted and with others repelling the savage on- slaught of the horde of Sioux, who thought we were at thelr merey, I felt a sharp sting as of being slapped in the face, and a blind- ing rush of blood to my head and eye A riffie bullet had struck me in the face, under my left eye, passing through the upper part of my mouth, under the nose, and out below the right eye. retained my saddle for a moment, then dismounted and lay on the ground. The Sioux, in their desperate charge, actually passed over me, and had it not been for Washakie, chief of scalp would have been lifted. One of my sergeants put a handkerchief about my face, and with his assistance I mounted my horse, and with both eves closed, my face badly swollen and black, presenting, I have been told, a most horrible appearance, in the upper part of my mouth to see how much had been shot away, and who then told me to lie down, All this period the fight was still going on, and I had to bs moved three different times, and upon one place from which I had just been removed the Sioux made a rush, and scalping some of our Indian allies, near whom I had lain It was a swelteriug hot day, and no shade to be found except the shadow cast by my horse, kept in the necessary position by my faithful orderly, my thirst was intense, swallowing impossible, and the flies buzzed fiercely about my blocdy face. How the con- flict would end, and how the wounded could be cared for, with no transportation, no medical supplies, and hundreds of miles away from home or treatment, were some of my thoughts on that long and wearisome day. Toward evening the firing ceased, the Indians as a bedy had disappeared, and the troops had gone into camp in the valley of the Rosebud. I was carried in a blanket by four men from the ridge to the valley. Twice on the way stops had to be made owing to nausea | from swallowing too much blood. In camp, | with one blanket under me, I was placed on the ground with other wounded, and as the nights in that latitude are cold, for shelter a piece of canvas was placed over us. During the long hours of that most weary night preparations could be heard for the burial of our’ dead, among whom we might be num- bered by morning, all being placed in one trench; after filllng in, firés were built on top and horses ridden over, so that the Indians might not discover the place of burial and open the grave to obtain scalps. it was also generally supposed that the Indians would on the morrow reuew the at- tack, so that the surroundings that night were not the most cheerful. A defeat of our men the next day would lead to the wounded falling into the nands of the Indians, with subsequent torture and to prevest the possi- bility of my being taken alive [ rctained my revolver. I was unable to falk, hith jaws being fractured, and was quite blind. I heard many in passing me rimarc that ¥ must be dead. In the morniaz, the Indians not appearing, arrangements wera made (o | fall back to our camp on Jonse creek at which we had left our wagons, tents and supplies, some eighty miles distort by toe voute to be traveled, over a trail in a very rough country. To carry the wounded poles were cut, be- tween which canvas was fastanad so as to form a bed. These litters were thon sus- pended between two mules driven fandem, a pole on each side of both mules front and | rear like shafts. After traveling a few miles, in crossing a boggy place, the poles belng too short the rear mule in his strug- gles struck me over my face with his jaw and shortly afterward I was thrown out, fortunately In a marsh or on soft ground. To prevent the possibility of my being struck again my head was placed in rear of the tall of the front mule, saving me in this vespect, but rendering kicking possible—an art in which a muie excels, but fortunately on this occasion did not practice. The com- mand traveled quite rapidly and to keep up, for fear of attack from the Indians, who had been watching us from the helghts, a trot had to be taken and death seemed preferable to the pain caused by the jolting. The nights were bitter cold, ice forming, but the the low temperature served to stop bleeding and the fresh air was of great service in alding nature to hold her own and to assist in recovery. The Indians fired into our camp at night, but did not molest us on our | march, which was due to the fact, a | learned afterward, that they were wat Custer and his command, whose massacre was consummated by these same Indians one | week after our fight. Crossing ithe Tongus river the mules had to swim for a short distance and 1 came near being washed out by the rapid stream, but our camp at Goose creek was reached at last and scemed a sort of home with a mattress to lie on and a tent overhead, though no medical treatment was possible. The wounded had to be sent on with a strong escort—as we were liable to attack by ndians—a dis ce of some 200 miles over a hot, dusty road—a long ten daiys’ trip. My only food on this journey was | broth made from such smail birds as could | be shot, fed by a spoon. 1 was kept up by sccasional teaspoonfuls of braniy and at night was able to obtain sleep only by the aid of chloral. We arrived opposite Fort Fetter man, on the North Platte river just as tho ble broke which held the ferry boat and we had to go into camp in sight of houses beds, comforts and medical treatment. The disappointment to us all after our weary march eannot be understood A few hours later, at great risk, a crossed in a skiff, and T was told that if 1 were willing 1o take my chances of being capsized (and that to me, in my blind eondi- tion, meant drowning), they would take me over to the fort. 8o, held in the arms of this officer, and paddied by two soldiers, 1 and others of the wounded in successive journeys fely reached Fetterman, called at that time, | owing to its desolation and remoteness, “'the | Jumplug-off place,” but to us it was a para- | dise; a house, a bed, clean clothes, bathing and dressing of un beef tea | and proper fcod, sesmed to be all that could be desired. I had now some 300 hun- | dred miles before I could reach my family and preper station; so, after resting a week, 1 was placed In an ambulance, and traveling some 100 miles over a very rough road reached Mediclne Bow, a station on the Union Pacific railroad, 200 miles frem post, Fort Russell. I thought 1 had rear civilization, but the Fourth of July orgies | that night, yelling of drunken men, anvil and gun Airing—the ball from one passing through the top of my tent—made me feel as If Indians were o be preferred. On the mor row I was placed on the cars. Arriving at Sherman, the highest potat, owing to the rarefied air and the cumulative sction of the | chloral which I had been tuking. I went Into u faint, and only came out of It on reaching officer or, 1t | the Shoshones, fighting over my body, my | I was led to the surgeon, who put his hand | wounds daily probed and dressed, and in tw months, having gained sufclent strength and tho use of one eye, I went to California, where, in that balmy climate, with plenty of red wine, which makes blood, 1 became my- | selt again, and returned to duty at Fort Laramie fn less than a year—in time for the Crazy Horse, Ute river and other Indian came paigns, The above personal experience I have given at the risk, perhaps, of what may be con- sidered self-glorification; but this has been far from my purpose, my cbject belng to show what many officers and soldlers haye been called upon to endure in Indian campalgns in time of peace, unknown to the people, for which no credit is given by the country or reward by the government. Our little army does ts duty in this.dificult and unappreci- | ated service, and of it may be sail The ostentatious virtues which still pross | Kor notice and tor praise; the hrilliant deeds Which live but the eves of observation l\-flll' have their meed at once; but there's oy, fond votaries of fame unknown, To hi'xu Llw sull, small voice of consclence pean Its whispering plaudits to the sflent soul, ——— A BALLAD OF LOVE. Written for The Teo. A mother died. Ter life had been from any taint of sin, And from the earth her soul took flight * realms of endless light On earth she loft an only son, A wandering, erring, sinful ote, And daily from the heavenly wall 8he saw him lower, decper fall | At last, one day His soul along the pathway came That from the earth to heaven leds, The mother with the angel pleads from sin and shame, | let mo go to meet my | 1 points, and in th black smoke she se In endless torment without hope son dun him grope from all the joy Through heaven rings her cry, She begs the angel, early, late, Oh, let me from this hateful gate.” he turns away HMy hoy® | Within the flames she hears his sighs, ars her darling's anguished cries; \o grasps the gutes-wrests the bar, | And roshes headlong like a star That shoots athwart the On some dark night—she Her feet scarce touch the She heeds not flame nor devil's mock. zure sky ems to fly— But on she flies, until she kneels And on her breast the head sh Of him to whom she’d given bl In pain and suffering on the e She sees above her, shining tall, The gleaming towers of heaven's wall; She liears the glad triumphant ring Of endless songs the angels sing, Around her leap the flames on high, Yet gom her lips escapes no cry The §vil's troupe ‘amazed around, And rere, amidst the direful sound, They hear the mother softly say, “I could not stay another day From you, my boy—I know this w There 1 no heaven with vou in hell WILLIAM REED DU L] Things You Ought to Take. One or two of our matchless Scotch cheviot suits to or- der, $20 to $30. One to three pair of our g4’ $5, $6 and $8 trousers. One tweed, topcoat, §18 tv $25, to order. Riding trousers, corduroy, windsor cord, $5to sro. Full dress suit to order, $30 to $60, Tennis and boating outfits. Fishing and hunting attire, all at very moderate prices, made to measure, You will be fashionably and suitably dressed if we make them. Garments made in one day if required, or expressed to any part of the United States, Samples mailed. Garments expressed. 207 S. ISTH STREET. ALL OUR WORK MADE IN THIS CITY DY THE BEST JOUR TAILORS, NEW YORK CHicAGO. ST, Louts, ST. PAUL. OMANA, BOSTON, DENVER. DESMOINES. PITISBURG, WASHINGTON. INDIANAPOLIS, KANSAS CITY, SANFRANCISCO. MINNEAPOLIS, HARTFORD, PORTLAND. ORE, CHICKASAW LOSANGELES, 7 JRADE MARK 4 i & Searles SPECI ALISTS. All forms of Blood an Skin Disvases, Bores, h'pul' crofula, Tumor a wnd Blool hly cloansod i tho syator L. ¥ i apeciul ath wtlon for AN their many peenline P\ ments. ] RH, Throat T Aver Dyspopels X Troubies cured by special Ly Wcgurse of treatnient. WEAK MEN (VITALITY WHAK) made w0 by 100 clows applic business iy, severe mental sirain ‘or griet, BEXUAL EXCESIES In middle ihe eftvets of youthtul oilies. alf 10 our bew ireatment for loss troubles 18 out of city. ‘Ihcusands alls our, a lower level. Arriving at Fort N.u-u-ll,‘ noarly three weeks after belng wounded, I | was placed under medical treatment, iny | Teq ut home by soriesl nge Dr.Searl2s & Searlss, Om