The Sunday Oregonian., January 05, 1902, Page 7, Image 7

THE SUNDAY OBEfJONIAN, PORTLAND, JANUARY 5, 1902.
sat&:
WORLD'S STOCK OF MONEY
INTERESTING STATISTICS PRE
PARED AT THE MINT.
Increase for the Year 1900 Distri
bution of aioney Per Capita In
equalities fn the Orient.
"WASHINGTON. Dec 28. The annual
statement prepared by Mint Director Rob
erts of the world's stock of money will
show a total stock on January 1, 1901. of
$11,781,200,000. This is an Increase of
about JICO.OOO.OOO over the beginning of
1900, when the computed stocjc was $11,
520,200,000. The stock of money accord
ing to the latest figures embodies gold
to the amount of $4,905,700,000; silver.
F3.SU,100,000; and uncovered paper, $3,033.
400,000. The uncovered paper represents
the excess of government and bank
note issues In the countries concerned
above the coin held In each case for
their redemption. Tho remarkable thing
about these large figures is not so much
the increase within a year, which is only
about V& per cent, but the In
crease of more than 150 per cent since
the computation made by the Mint Bu
reau for 1873. The calculation of the
stock of money in the world is no easy
task, but It has been carried to greater
and greater perfection every year, under
the skillful marcgement of such Directors
of the Mint as tho late Edward O. Leech;
the former Director and present Exam
iner. Robert E. Preston, and the
present Director, George E. Roberts.
Appeals to our Ambassadors, Ministers
and Consuls at all the capitals of the
world, careful examination of foreign
statistical publications, both official and
unofficial, and comparison of the views
of the most eminent students of tho sub
ject in all languages, are made each year,
with the result of the steady elimination
of errors and excessive estimates and
the reduction of the annual tables of the
Mint Bureau cs nearly as possible to ex
act mathematical truth. This labor and
the correspondence which it involves
takes time and permits the compilation
of accurate statistics oniy for a date
several months back. Hence the esti
mate which will bo presented in the forth
coming annual report of the Director will
be for January 1, 1901, rather than for
any later date. In the United States,
where tho statistics are made up month
ly, the gold etock has Increased about
5G1.000.000 since the beginning of the year,
and the stock of paper money has in
creased materially. In spite of the fact
that a part of this Increase has been oft
set by the additions to the gold resources
In the Treasury. The following table
givca a blrdseye view of the remarkable
Increase In the world's equipment of
money from 1S73 to the beginning of the
present year:
Uncovered
Date Gold. Silver. Paper.
1873 ..S1.20D.800.000 $1,057,085,000 $2,322,0:000
1883 .. 3.001.000.000 S.931.100.000 2.700.000.000
1890 .. 4.143.700.000 4.23G.O0O.O00 2.558.000.000
lb9a .. 4.(514.000.000 3.835.S00.O0O 2.84C.500.O00
1900 .. 4.841.000.000 3,818.900.000 2.000.100.000
1901 .. 4.90C.700.000 2.841.100.000 3.033,400.000
One of the most Interesting features of
this table is the Increase In the supply
of gold money In the world since 1873.
"This increase amounts to about $3,700,000,
or close to 300 per cent. Silver has In
creased In use in a large proportion, but
not quite to the extent of gold, while
the Increase in uncovered paper currency
in this long stretch of 2S Xears lias been
only about $700,000,000, or about 30 per
cent. The relatively small Increase in
paper Is due to the large increase in
coin. The actualnso of paper -for -currency
is much greater than these figures
would Indicate, but the coin reserves held
by the great banks of Europe. and the
United States have risen rapidly to cover
the new issues of paper. Examination of
the table shows that a total stock of
money, amounting in 1S73 to about $4,600,
000,000, consisted almost exactly half of
uncovered paper and the remainder of
coin, which might be considered in some
degree as a guaranty of the paper. The
condition in 1901 is that a total stock of
$11,800,000,000 in money is represented to
the extent of about $S.700,000,000 in coin
and only about 2G per cent in paper. In
one sense, however, the fiduciary element
1b still about 50 per cent of the whole,
since the Integrity of tho silver coin
rests to a large extent upon the gold se
curity behind it.
So large an Incrcaee In the money stock
of the world within a quarter of a cen
tury naturally raises the Inquiry, What
has become of the new money? Has it
been absorbed by nations alrendy well
supplied with gold currency, has it fur
nished a gold currency to countries for
merly on the paper or sliver basis, or has
some other disposition been made of it?
In some degree an affirmative answer
may be given to all these questions.
'Among the distinctly gold-standard coun
tries which have increased their stock
of the yellow metal are Great Britain
and Germany, the latter country having
in 1K73 just entered upon the policy of
the gold standard. Great Britain was
estimated to have a stock of gold money
Jn 3S73 amounting to $160,000,000. This has
been multiplied by three within the past
generation, and now stands at $511,000,000.
Germany, which entered upon the experi
ment of the gold standard with an equip
ment of almost exactly the same amount
of gold as Great Britain then had $100,
200,000 has raised her gold resources to
$721,000,000, and reduced her silver stock
from $300,233,000 to $203,400,000. France,
'which had a gold stock In 1873 of onlv
5450,000.000, and a silver stock of $500,000,
000. has nearly doubled -her gold supply
and reduced her fund of overvalued silver.
Her equipment of gold money is now
reckoned at $S10,C00,OO0, and of silver at
$421,300,000.
Turning to the countries which were
struggling with an irredeemable paper
currency in 1873, the striking examples
of an increase of gold' supply since tho re
sumption of specie payments are the
United States and Russia. The United
States was estimated to have only $135,
000,000 in gold money in 1873. including
what was. in circulation on the Pacific
Coast and the scattered funds in the Na
tional and state banks. The amount had
risen at the close of 187S, on
the eve of specie resumption, to
$213,199,977, bult it required the big
export movement in food products
during the next three years to raise the
gold stock at tho end of 1881 to $478.4S4.53S.
Then came a period when the increase of
gold was checked by the infusion of sil
ver into the currency, which finally left
tho gold stock at the close of 1S96, after
the business dex-elopment of 15 years, at
only $599,597,954. The record of tho last
four years has been strangely different.
The suspension of further purchases of
silver bullion and the arrest of bank-note
expansion until the passage of the refund
ing law left a vacuum for gold which was
filled like the rush of a mighty golden
river down to the present time. An In
crease of more than CO per cent in three
years carried the gold money of the coun
try on June 30, 1899, to $9(52,865,503. and a
further increase of another year carried
it to $1,034,384,444 on July 1, 1900. The gold
stock had risen on December 1 last, the
date of the latest available figures to
$1,171,839,976. Thus the gold stock of the
country is practically double what it was
in the fateful year 1896. when a great po
litical organization was striving to take
the country to the silver basis and drive
out what gold remained. The stock of
gold in Russia has diminished a little dur
ing the year covered by these statistics,
but she still ranks third among goldl
holding countries, after the United States
and France, with Germany pressing close
ly for her place. The Russian Empire was
credited In 1873 with a gold stock of $149.
100,000, and uncovered paper to the amount
of $615.400,003., It was not until about 1825
that serious preparations Dcgan for the re
sumption of gold payments and the retire
ment of the redundant mass of paper. At
the beginning of 1896 Russia had accumu
lated a gold fund of $488,600,000. but still
had in circulation a margin of uncoi'ered
paper amounting to $467,200,000. White
paper is still used in currency, it Is now
completely covered by the gold and silver
stock, and Russia ranks among the strong
est of gold-standard countries. The four
countries of the United States, Russia,
France and Germany hold about $3,365,000,
000 of the gold money of the world, or
about two-thirds of the whole, while the
stock of Great Britain raises the propor
tion for these five countries tp about
53,875,000.000, or more than three-fourths of
the world's stock. The following table
shows the gold, silver and uncovered paper
of the countries of the world on Janu
Countries
United States ,
Austria-Hungary
Belgium ....r-. f.
Australasia
Canada
Cape Colony '.
Great Britain ;....
India ,
South African Republics
Bulgaria
Cuba
Denmark '.
Egypt
Finland
France ."
Gezsnany :
Greece
Hayti
Italy ....-.
Japan :....-.
Netherlands
Norway -.
Portugal
Roumanla
Russia
Servia
South American States
Spain
Sweden
Switzerland
Turkey ,.
Central American States.....'
China
Mexico ,
Slam
Straits Settlements
Totals
One of the most Interesting phases of
the money supply is tho amount of money
per capita in each country. This amount
differs greatly, according to the degree of
civilization and the use of the instruments
of credit It cannot be laid down as a
definite rule that tho undeveloped coun
tries use less money -than the advanced
countries, when Slam, shows a total of
$33 SO per capita, and the Straits Settle
ments $48 40, against a circulation of only
$5 50 In Mexico, $3 25 in Japan, and only
$11 23 in such an advanced country as
Denmark. The United States may be said
to stand well toward the head of the list
among large and well-developed countries
in her present supply of money, with
$28 48 per head at the beginning of 190L
France ranks considerably higher, with
$37 16 per head, of which $21 95 Js in gold.
This gold is largely held in the reserves of
the Bank of France, and is represented by
the paper notes of the bank in actual cir
culation. Germany shows an average cir
culation of $19 66, while Great Britain has
a net circulation of only $18 per capita.
This small circulation in Great Britain is
due not merely to the use of the refined in
struments of credit, but to the narrow
territorial limits vthln which her money
circulates, enabling It to do more work
than if it had to traverse longer distances.
Russia, In spite of her Immense coinage in
recent years, has a circulation of only
$6 44 per capita, of which all but SO cents
Is gold. Austria-Hungary has a circula
tion of $7 90, Belgium $21 97. Holland $24 76,
Spain $23 C2, and Italy $9 77. Among the
less-developed countries the differences are
great because of the differences in local
conditions. In South Africa the great
output of gold keeps the currency up to
$27 63 per head. In China, on the other
hand, the estimated circulation is only
$2 09, and in Serbia only $2 SO. Egypt also,
in spite of her recent progress, shows a
per capita circulation of only $3 7L
Ortsron Mining- Stock Exchange.
Yesterday's quotations:
ma. Asked.
Adams Mountain , 2V4
4V
Asioria-JueiDourne tuia.j ......... ...
Bronze Monarch 14T4
Copperopolls 17
Crystal Consolidated ... 2
Caribou . -1T
Gold Hill & Bohemia 9
Huronlan C
Lost Horne .... 2
Oregon-Colorado M. M. & D 24
Riverside ?.
Sumpter Consolidated 2
Sweden Copper M. Co 84
50
1T
30
.2
15
6
i
3
100
saies:
1C00 Bronze Monarch at 13
2000 Crystal Conpolldated at 3
490 Sweden Copper M Co. at 83
500 Caribou at 'Z
COO Gold Hill ft Bohemia at 10
600 Oregon-Colorado at 25
SPOKANE.
Jan. 4. The closing quotations of
mining stocks
Amer. Boy ..
today were:
Rid. AVA
Bid. Ask.
2T4 2;
4 CHlPrin. Maud
liiacktall ...
Deer Trail ..
Gold Ledge .
L. P.-Surp..,
Mtn. Lion ..
Morn. Glory
Morrison ....
Diilln la 27ll
.AUT8 7
. 2Kf 2
Kamn. uar ...07H J
KepuDiic .... 4
Reservation .. 2Vi
St
W 0
20 27
3fc, 3?!
Sullivan 8 OV.
Tom Thumb ..18 10
L. Dreyfus ... 2 Z
SAN FRANCISCO. Jan. 4. Official closing
quotations of mining stocks:
Alta $0 OSIJustlce
.$0 00
Andes
II Mexican ......
3T
Belcher
Best &. Belcher..
Caledonia
Challenge Con .
10 Occidental Con
12 Ophlr
211 Overman
1 13;PotosI
GiSnvace
Cholinr
Confidence C2j Sierra Nevada
con. cai. & va... l oo silver hiu ....
Crown Point .... 8 Standard 3 00
Gould & Curry... CjUnlon Con 18
Hale & Norcross. 24rjUh Con 0.
NEW TORK, Jan. 4. Mining stocks today
closed as follows:
Adams Con $0 201 Little Chief $0 12
Alice 45 Ontario 8 50
Breece 75Ophlr S3
Brunswick Con .. 15Hnoenlx 5
Comstock Tunnel. SiPotosl , .... S
Con. Cal. & Va... 1 60Savage 4
Deadwood Terra,. 001 Sierra Nevada. ... 18
Hon Silver 1 0 Small Hopes 40
Iron Stiver GO, Standard 8 00
Leadvllle Con ... OJ
The Return of Remey.
WASHINGTON, Jan. 4. The Navy De
partment today received a cablegram an
nouncing the departure of Rear-Admiral
Remoy; aboard his flagship Brooklyn,
from Nagasaki, Japan, for, Woo Sung,
China. Tho Brooklyn will sta'rt home
ward with -Admiral Remey after the Rain
bow arrives on the Asiatic station. The
question as to whether Rear-Admirals
Rodgers or Evans should havo charge of
the Philippine squadron has not yet been
determined. Rear-Admiral Evans will sail
about the middle of March for the Philip
pines. Captain Kirkmaa Itclenned.
WASHINGTON, Jan. 4. Information
has reached here that Captain George W.
Klrkman. Twenty-fifth Infantry, who was
arrested in Manila on charges made by
local merchants, has been released from
custody and will return to the United
States. General Chaffee did not consider
the circumstances Tjpon which the charges
were based as Justifying his detention in
the Philippines.
Rainbow Sails for Manila.
NEW YORK, Jan. 4. The United States
steamer Rainbow, formerly the supply
ship of Admiral Dewey's fleet on the
Asiatic station, sailed today for Manila,
to replace the cruiser Brooklyn as a star
tion ship in Manila. She carries a crew
of 330 men, who will be distributed among
the various ships of the fleet on the Asiat
ic station. The Brooklyn will return here
and bring back term-expired men.
t
Funeral of N. R. Masey.
The funeral of tho late N. R. Maxey
will occur from the undertaking parlors
of Flnley & Son, under the auspices of
Harmony Lodge, A. F. & A. M., today
at 2 P. M. sharp. A full attendance of
Masons is especially desired.
In Russia the penalty for leading a strike Is
ths same as that for rebellion.
SCHEME OF FILIPINOS
A3IERICAXS FORCED TO SIGN A
Apparently TrcRSOHable Document
Subscribed to by United States
Prisoners Result of a Trial.
WASHINGTON? Jan. 4. The War De
partment has -received - from the Philip
pines copies of a remarkable proclama
tion, signed with the names af iilne Ameri
cans, seven of them stated as .being In the
United States military service,' Inviting
Uncovered
paper.
$ 428.400.000
GS.100.000
91.400,000
io.&oo.boi
in.too.oco
33,900.000
"sjiw,ooo
6."4,005
9,"5od,boo
199.200.000
177.400.000
2S.S00.000
3,500.000
174.900.000
80,400,000
41.200.000
7,.0W)
73.600.000
14,000,000
Gold.
.$1,110,600,000
. 229.400.000
. 17,800,000
. 12S.600.000
. 20.OC0.000
. 37,E0O,00!
.- 511,000,000
. 43,400.000
. 29,200.000
1,200.000
2,000.000
. 14.700.000
. 30.000.000
4,100.000
. 810,600.000
400!0tO
1.300.000
. . ss.ooo.ooo ,
. 41,700.000
. S2.900.000
9.600.000
6.300,000
7,700.000
. 734,300.000
1,300,000
. 72.OOU.000
. 79.100.000
. 15.700.000
. 24.000.000
. 50.000.000
2.200.O0O
SllveiC
$ 655,S00.000
. .73.SOO.O00.
35,000.000
6,100.000
5,000.000
.1.000.000
HG.fcOO.000
469.700.000
1,200.000
5,000,000
1,500.000
5.S00.O0O
6,400.000
400.000
421.200.000
203,400,000
1,500.000
2.500.000
43,900.000
. 29.1OJ.O00
52.200.000'
2.500,000
v 42,600.000
900.000
102.500.000
1.700,000
20.200.000
173.700,000
C.SOO.OOO
10.700.000
40.000.00)
6.1D0.O00
750.000.000
103.OCO.000
193.000.000 ,
242,000.000
4,100.000
1.13O.700.C00
165.300.000
28.900.CO0
20.500.000
26,100.000
54!66o.OOO
2,100,000
8,600,000
20,000.000
$4,906,700,000
$3,841,100,000 $3,033,400,000
American soldiers to desert and join the
ranks of the Fliipino soldiery. The text
of the document Is as follows:
"To Whom It May Concern Dear Fellow-Countrymen:
After many months
among the Filipino people, knowing their
j customs and characters, we. the under
signed, have come to the conclusion that
tho time has come for us to break the si
lence and let you know the real truth, so
that you will see the folly of continuation
J of lighting these people, who are defend
J ing their country against cruel American
Invasion in the same manner as our lore
fathers did against England in those glo
rious days of our grand and noble libera
tor. General George Washington.
"Since the day we were led by our con
sciences and presented ourselves to the
Philippine authorities we have received the
best of treatment, and we are enjoying a
life of luxury without having to put our
lives In danger as do you who still remain
In the American ranks fighting for an un
just cause, which sooner or later must
surely prove disastrous, as It did to the
Spanish, notwithstanding that they knew
the' country and customs of tho people
better than the Americans do.
"For above-mentioned reasons and also
that the war may end soon, we ask the
men of tho American Army stationed In
these islands to present themselves to the
Philippine authorities as we did, thereby
showing yourselves to be true Americans,
upholding tho policy of Washington and
the Monroe doctrine against the ambitious
policy of President McKlnley, who for
two years has carried on this cruel wnr,
spilling the innocent blood of thousands
of American soldiers, and with what ob
ject? To fill the pockets of Mark Hanna
and several other American capitalists
who have been for years and are now
ruling America, or, in other words,
changing your blood for gold and robbing
many a loving mother or wife of son or
husband, thereby making many a once
happy home sad and miserable.
"Before we close, let us tell you that
near every town there are always sta
tioned forces of Filipino troops to whom,
should you so desire, you can present
yourselves with or without your rifles,
and to avoid danger it is best to hide it
in a secure place, and after you have
presented yourself, inform the Filipino
officer or chief of the guerrillas and they
will recover it and pay you some money
in return.
"With this wo conclude, wishing you
the best of fortune.
"We remain, yours most sincerely, .
"HARRY HORAL ALMAN,
"Company K.
"JOHN BLAKE,
"Trumpeter, Company B, Twenty-eighth
United Suites Infantry.
"FRANK L. CLARK,
"Company F, Twenty-first United States
Infantry.
"J. THOMAS KRIEDER,
"Corporal, Thirty-eighth United States
Vclunteera.
"CHARLES BUCHANAN.
"Company B, Twenty-eighth United
States Volunteers.
"HARRY RICHTER,
."Sixth United States Artillery.
"CHARLES WRIGHT,
"Hospital Corps.
"FITZHUGH SMITH,
"JOHN RYAN,
"Fourth Regiment."
John T. Kreider, one of the signers of
this proclamation, was tried recently by
a military commLssIon in the Philippines,
on the charge of treason, and the rec
ords of the court-martial havo Just been
received at the War Department. The
preponderance ' of proof, said General
Chaffee, In reviewing the case, was In
favor of the contention of tho accused
that he was held by the insurgents as a
prisoner, nnd took no part In operations
against the United States, gave no aid or
comfort to the enemy, made reasonable
effort to escape, and was compelled by
his captors, under legal duress, to sign
the above proclamation, by threats of
violence in case he refused.
"While no treasonable intent or overt
act Is brought against the accused by
competent evidence," said General Chaf-
, fee, "It remains to be remarked that it
is the duty of the American -soldier to
I face impending danger or death rather
J than sign a treasonable proclamation.
1 even if it be prepared, us was the one In
j this case, by the enemy. Nor should he
do any other act that might have even a
: semblance of- giving the enemy encour
I agement. The true soldier not on'y takes
the rlsk3 of battle, but all other risks
of life growing out of any and all Inci
dents of war, and accepts the chance of
life or death rather than do aught to in
jure his country's cause or dishonor the
uniform he wears."
The military commission found Krelger
guilty of the charge of treason, and sen
tenced him to confinement at hard labor
for life; but General Chaffee. Dccause of
the absence of conclusive proof that the
accused had committed an overt act
(such nn act being necessary to consum
mate the technical offense of treason),
disapproved the sentence and ordered the
prisoner sot at liberty.
How the French Bounty "Works."
Pittsburg Dispatch.
It will surprk2 the ad-occtes of ship
bounties to be told that bounties have kept
ships from carrying freight. Yet that is
the assertion made by no less nn author
ity than M. MIKcrand. the French Min
ister of Commerce, with regard to the
bounties given by the French Government
to its merchant marine.
France pays a bounty on construction,
which docs not, of course, affect the
course of the ve.sels with regard to carry
ing freight. In addition Jt pays to steam
ship owners a bounty of 22 crnt3 per ton
capacity for each 1000 miles sailed, tho rate
having been decreased annually of late
years by 4 centimes. This bounty, M. MH
jerand declares, has resulted not only In
Inducing owners to keep ships In service
where no cargoes were procurable, but in
the actual refusal of freights, because it
was more profitable to keep the ships run
ning empty than to tie them' up for lading.
The French Minister specified at least one
ship that bad been sailing on empty er
rands and earned Its owners 75,000 francs
In 10 months.
It certainly seems pertinent to Investi
gate whether this assertion of the French
Minister of- Commerce Concerning a mat
ter within his official Jurisdiction is well
founded. Considering that the purpose of
ship bounties is to furnish accommoda
tions for American shipments, It la cer
tainly not desirable to pass a measure that
might have the effect of Inducing vessels
to refuse shipments altogether.
TO AVOID TRAD COLLISIONS
Ckansre In System of Orders and Sig
nal Advocated.
CHICAGO, Jan. 4. Train dispatchers of
the country want all possibility of col
lisions removed by doing away with the
present system of train orders that can
be misinterpreted and signals that may
be unseen. Instead of thcee methods it
is proposed to substitute colored electric
lights In the engine cab, signals that al
ways can be seen and never can be mis
understood. Among those who urge a change Is A.
C. Miller, of Aurora, chief dispatcher of
the Chicago. Burlington & Qulncy. He
suggests that several disastrous wrecks
In the last SO days were duo to the alleged
misunderstanding of written orders, and
Insists that written orders never should
be used. The placing of "block" signals
along the track at this day, when trains
often run 0 miles an hour. Is held to be
unsafe, as they cannot always be read
by tho engines- when going at such
speed.
"Automatic blocks or lights in the en
gine cab," said Mr. Miller, "mean Just
two things when they are clear or white
the train should proceed; when they are
red the train should stop. There should
bo no written orders."
This system of movable blocks of lignts
In engine cabs is being installed on the
Chicago & Eastern Illinois Railroad chief
ly through the efforts of Mr. Miller, who
took the Initiative in bringing the system
to perfection. The experiment will be
watchc-d with Interest by railroad men
throughout the country.
MUST PAY TUB TAX.
Stocks Pledged an Collateral for
Loans Mast Be Stamped. v
WASHINGTON, Jan. 4. Attorney-General
Knox has given an opinion in which
he holds that the certificates of stock
amounting to 525,000,000 proposed to be
deposited by the Pennsylvania Railroad
Company with the GIrard Trust Company,
trustee, as tho security for certain other
certificates to be Issued by the latter com
pany for the use of the. railroad company,
are taxable under schedule A of the act
of June 13, 1S9S, and now a part of the
act of March 2, 190L The amount of
stamps required will be JS0.0C0.
Tills opinion sustains Commissioner
Yerkes holding, not enly In this particu
lar case, but also his ruling to the effect
that stocks pledged as collateral on time
or call loans must be stamped. Operators
on the leading stock exchanges of the
country havo vigorously opposed this view
of the law.
Offices for Blabon.
ST. PAUL Jan. 4 It developed today
that Joseph Blabon not only succeeds
Darius Miller as chief of the traffic de
partment of the Great Northern Railway,
with a vice-president's title, but has also
been elected president of the Northern
Steamship Coropany and president of the.
Great Northern Express Company, two
offices which Mr. Miller also filled. R. I.
FaTlngfon has been elected vice-president
of the Great Northern Express Company.
Railroad Notes.
Traffic Manager Campbell, of the O. R.
& N. Co., will leave today for Chicago, to
be gone for -an Indefinite period.
It Is said by a New York paper that
Darius Miller, as traffic director of the
Burlington, will have a salary of 850.000
a year. His salary with the Great North
ern has been $25,000, though It has Been
asserted that he received compensation
amounting to $40.000..
Grading has been completed on the
northern extension of the Boise, Nampa
& Owyhee Railroad, from Nampa to Em
mett, Idaho. 28 miles, .and 10 miles of track
have been laid from Nampa to the Boise
River. A bridge over the river is prac
tically completed, and rails have been
received to lay the track to Emmett.
W. A Seachrest, passenger agent for
the Vanderbllt lines In Portland, has re
ceived notice that hereafter he will bo
under the Jurisdiction of tho Chicago office
of those lines, and not tied, to the San
Francisco office as heretofore. He will
make reports direct to Chicago. The rise
in rank of the Portland office Is accom
panied with corresponding Increase of
salary.
The Bellingham Bay & British Columbia
Railroad Company, which operates a line
46JA miles long, In the State of Washing
ton, announces that It will extend its
road seven miles this year, to the only
extensive anthracite coal field on the Pa
cific Coast. It also advertises for sale
55O0.O00 5 per cent gold bonds, to run till
December, 1932.
Sunset, the Southern Pacific Company's
monthly magazine, for January Is large
ly given over to the sequoia and to onions,
F. L. Wells, formerly of Portlnnd. but
now editor of the San Jose Mercury,
writing one of the onion articles. There
are also some Interesting descriptions of
Mexican scenes. All the articles are
Illustrated with the usual richness-
It Li announced thnt the work of lay-
Is becoming more popular among women.
The reason given is that a woman should
know how to use the pistol for self pro
tection. The theory should be carried
farther. here a woman
is in danger from assault
once she is in danger from
disease every day of Tier
life. Women
have not only to
run the risk of
diseases which
threaten husband,
brother, and son, but
they have also to guard
against diseases which
are peculiar to woman
hood. From these diseases
Dr. Pierce's Favorite
Prescription will effect
ively defend iwomen.
The. use of this medi
cine preserves as well
as restores the woman
ly health. It corrects
irregularity, dries
weakening drains,
heals inflammation and ulceration, and
cures female weakness,
"I cannot say enough for Dr. Pierce'a Favorite
Prescription and ' Golden Medcal"DUcovcTy,, "
writes Mrs, Ida M. Tutt. of 406 Eranktip Street,
CraTrfordsvllle. Ind. n I could hardly walk alone
or do my housework when I heard of vour won
derful medicine. I used five bottles of each and
several vials of Pleasant Pellet,' and can say I
am a well woman. I thank Dr. Pierce for his
ndvice for he helped me to live. May xnanv
thousand women take my advice and when in
poor health or sufTerlue from any female trouble
take Dr. Pierce's wonderful modicines.,
Sick women, especially those suffer
ing from diseases of long standing, are
invited to consult Dr. Pierce, by Fetter,
free. All correspondence is held as
strictly private and sacredly confidential.
Address Dr. R. V. Pierce, Buffalo, N. Y.
The People's Common Sense Medical
Adviser, a book containing 100S pages,
is given away. Send 21 one-cent stamps
(expense of mailing only), for the -book
in psper covers, or 31 stamps for the
volume bound in cloth. Address Dr.
R. V. Pierce, Buffalo, N. Y. .
-i53Ev' U S
THE PRICES SPEAK FOR THEMSELVES
BOYS' and CHILDREN'S
OVERCOATS
Blue- Chinchilla Reefers, 3
to y, cneap at $1.50, nCfi
SALE PRICE ! OOO
Oxford Gray Reefers, 3 to
9, our regular $2.95 gar
ments, SALE 1 0E
PRICE ibhOO
Oxford Cheviot Reefers,
extra fine quality, $3.95
values, bALE
PRICE
RUSSIAN OVERCOATS
Child's Worsted Cheviot
Overcoats in red, blue and
Oxford, 2J to 6, splendid
$8.00 values, fr i OK
SALE PRICE iMhiOO
Child's Russian Overcoats
in tan, and Scotch mix
tures, $3.95 values, 00 Efl
SALE PRICE ...disOU
CHILD'S TOP COATS
Child's Oxford Top Coats,
ages 3 to 9, a nobby little
coat, $3.85 values, $fl Qr
SALE PRICE... dZsUU
Child's Brown Kersey Top
Coats, all wool, very
dressy, $5.00 vares fin
SALE PRICE...1BU1
Youths' and Boys' Overcoats
Youths' Blue Kersey Over
coats, sizes 14 to 19, $6.00
values, SALE QM OE
PRIE M-idO
Young Men's Oxford Over-
coats,$13.50vares
SALE PRICE....
v
s
Ing rails on the Nevada-Callfornla-Ore-gon
Railroad to Madeline has been aban
doned, to be taken up as early In the
Spring: as the weather will permit. When
the attempt was made to set the rails It
was discovered that the grade was so soft
that ties and rails .sank almost out of
sight, hence the abandonment of the work.
THE ONLY WAY.
Give Oar Islands a Chance to Fur
nish Our Sngar.
Chicago Inter Ocean.
Washington dispatches Indicate a dis
position on the part of Congressmen to
pause and think carefully before finally
enacting the Philippine tariff bill. Re
publican members are resenting the
Hon. Sereno Payne's suppression of the
Taft Commission's recommendation that
duties on Philippine products be reduced
as the surest way to make the 'Filipinos
prosperous and loyal. They feel that they
were led Into a trap, and look to the Sen
ate to extricate them and the party. The
Senate seems disposed to take plenty of
time and to consult Governor Taft before
consenting to discriminate against the
Philippines.
At least one of the three special in
terests affected is vigorously protesting
against the Payne bill. The shipowners
trying to carry American goods across
the Pacific denounce Its third section as
destructive to their hopes and to National
Interests. This section puts the Philip
pines outside ourx navigation laws, and
thus pfays directly into the hands of for
eign vessel-owners.
Owing to the recent decline of German
exports, many German steamers have
little to do. A German steamship com
pany Is now negotiating with a trans
continental railway for the establishment
of a line from San Francisco to Manila
and other Oriental port?. Having these
vessels ready, the Germans hope by grace
of the Payne bill to find steady work for
them In the Pacific, and by occupying
the field to secure the profits of a large
share of our growing trade with the
Orient.
Meanwhile it Is becoming Increasingly
evident that our domestic sugar-growers
have absolutely nothing to fear from
Philippine competition. Louisiana, our
beet fields and the Philippines together
cannot supply next year one-fifth of our
demands for sugar. Practically all the
cane lands of Louisiana, Hawaii and
Porto Rico are now under cultivation.
They cannot supply one-third the sugar
we eat.
For 1,500,000 tons of sugar next year we
BOYS' I
SU ITS
BOYS' SCHOOL SUITS
all wool, sizes 8 to 15, great
durable styles, $2.50 and
J
$2.85 values,
SALE PRICE
BOYS' TWO-PIECE
SCHOOL SUITS, as
sorted patterns, all sizes,
from 8 to 16 years, $3 and
$3.25 values, $1 QE
SALE PRICE dlcOO
BOYS' SCHOOL SUITS
heavy durable suits, $3.50
and $3.95 values,
SALE PRICE....
I
I
BOYS' TWO-PIECE
SUITS, never sold for less
than $5 and $6,
SALE PRICE
&di
BOYS' KNEE PANTS
All our Boys' 50c Knee
Pants, SALE"
PRICE .
All our Boy's 75c Knee
Pants, SALE
PRICE
Boys' Ironclad Hose
Triple-Knee, high -spliced
heel and double toe, great
I
2oc value, bALb
PRICE
Not more than four pairs
to each customer.
Boys' Sweaters
$1.00 and $1.25 grades, 85c
!&&&
f-.:::.a..
is?i:5a
f;t:-:M
:.'-:.: j ;
mrnmimmmmmimmmM
....LEADING CLOTHIER....
Southeast corner Fourth and Morrison Sts.
must look outside of our domestic beet
and cane fields and beyond Hawaii and
Porto Rico. This sugar will cost us near
ly moOO.COO. If we divide our purchases
, - ..v. v.u ...j ;ii i, ; .jikwi hue mi;
J Filipinos the producer's share of about
j $441,600 and tho Cubans the same share
I of about $i2.iiS2.CC0. The rest of the 590.-
000.000, or 546,973.400, we shall pay to for
eigners In whose prosperity we have no
National Interest.
K. What prospect of relief have we from
these conditions? We can look for none
in Louisiana, Hawaii or Porto Rico. They
have about reached their limit of pro
duction. At no time In the future can
we hope for them to supply us with more !
than 900.000 tons annually, at tho most
liberal estimate. For 19 years our sugar
consumption has Increased 6.34 per cent
annually. At this rate we shall require
In 1S06 nearly 3,200.000 tons. Can our do
mestic beetgrowers then supply us with
2,930.000 tons or more? Let us see.
They produced this year 71.427 tons. They
promise next year 150.000 tons. Suppose,
them able to keep that promise and to
keep on doubling their product annually.
Then In 1006 they would produce 2,400.000
tons. But such rapid enlargement of a
highly complex Industry Is manifestly 1m-
j possible. It would require In live years
l the building of over 1000 sugar factories
of the present average capacity, and the
3
0W0
mm
WtmiMic
WUd
All of this can be avoided,
however, by the use of Mother's Friend before baby comes, as this
great liniment always prepares the body for the strain upon it, and
preserves the symmetry of her form. Mother's Friend overcomes all the
danger of child-brrth, and carries the expectant mother safely through
this critical period without pain. It is woman's greatest blessing.
Thousands gratefully tell of the benefit and relief derived from the
use of this wonderful
remedy. Sold by all
druggists at $i.oo per
bottle. Our little
book, telling all about
this liniment, will be sent free
Tki Bntikli Replitir Ci., Atlinli, Si.
A
300 Pairs Cassimere Pants,
great $2.50 values. (M Q
SALE PRICE... I bOD
Men's Striped Worsted
Pants, elegant patterns, $3
values. SALE &ty M
PRICE &Zb4Q
Striped Worsted Pants in
new and fancy patterns,
$4 values. SALE &
PRICE AUidO
Striped Cheviot and Worst
ed Pants, $4.50 and $5.00
values. SALE M IE
PRICE fth 1 3
Handsomest line of $6.00
Pants in the city.
ojtLjC rniyc ... ?yi?B
Elegant new lines of Trous
ers bargains at $7. Your
tailor charges $12 for them.
SALb
PRICE
Boys' Junior Shirts, color
ed percale and madras, 75c
values,
SALE PRICE
J Boys' Underwear Boys'
Camels-hair JJnderwear,
shirts and drawers, 50c
values,
SALE PRICE
All our Boys' and Child's
Sweaters, including new ar
rivals, $1 values,
SALE PRICE ....
Boys' Caps, 25c and 35c
values,
SALE PRICE
Investment of not less than ?300.0001000. To
supply them with beets would require the
use of not less than 2,400.000 acres of spe
cially selected land, and the labor dur
ing the growing season of 7,200,000 persons.
We might find the capital. We could
hardly find suitable land In that time.
And to find and train the labor would be
utterly Impossible.
Hence the only way we can soon escape
from paying sugar tribute to foreigners
Is to give our tropics a chance to supply
us. By granting tariff concessions to the
Philippines, we allow both their sugar In
dustry and our own to develop naturally,
with neither Injuring the other. And we
give the Philippines a chance to become
prosperous and contented. In the light
of these facts, Congreas may well pause
and think, once, twice, and 10 times, be
fore parsing the poverty and Insurrection
breeding Payne, tariff bill.
Tlie Iotvu in. Chile.
SANTIAGO DE CHILE. Jan. 4. via Gal
veston. The United States battle-ship
Iowa arrived at Talcahuano, and will go
Into dock there.
The Rev. Doremus Scudder, of Boston, has
started for Japan, where he will spend a year
preparing for missionary work among the Jap
nnc?e In the Sandwich Islands.
n Every woman covets a
shapely, pretty figure, and
many of them deplore the
loss of theidrgirlish forms
after marriage. The bearing
of children is often destructive
to the mother's shapeliness.
(BdU
wcwQDncBipfi
" fnErrnrM
LT U UiUULUJ
to