The Corvallis gazette. (Corvallis, Or.) 1862-1899, August 18, 1893, Image 2

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The Corvallis gazette., August 18, 1893, Image 2

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Newspaper Page TextTHE CORVALLIS GAZETTE, Fill DAY, AUGUST IS, 1S93. MSCID EVRRY FaiIT MOtSWO BT jrziTsnz: OONOVEB. oG3C!llPTION RATfcS ru ear... ...... ........ - t. k Mont "u T .ibb Mi.i;ii( I HL'leCp: t Yeir fu. not naid in advance)... Jl 0!) 1 O'J 75 to COMMENT ON A TEXT. The president in his recent mes- sage to congress, said: " He (the workingman) relies for work upon the ventures of con fident and contented capital. This iailing him his condition is without alleviation, for he can neither prey on the misfortunes of others nor hoard his labor." On th'is text the Chicago Trib-; une makes the following com- i raent: "No more true remark was ever uttered. The ventures of 'confi dent and contented capital' are what furnish employment to work ers in city and country. But tiie president cannot deny that there is no more sure way of impairing this all-necessary confidence than by holding out a prospect of large ly increased European competition for the sale of the products of American labor, and especially po when that competition will be with goods produced by labor that is compensated on a far lower wage scale than the one the home em ployer has to operate on. And he must be well aware that the prom ise of tariff reform ' could not be carried out except by reducing the margin of protection to some, if not many, industries in the United - States, with the result' of loss to the employer unless he reduces the pay of the workers to corres pond with the lower prices he must exDect to receive for the iroods. i - o And some . of the worst effects o sucli a policy are suffered in antic ipation. There is a loss of confi dence among bm-ers as well as manufacturers. The consumer who i expects lower prices to prevail will defer purchasing in the hope of being able to buy "more cheaply. The retail merchant will buy as sparingly as possible, because he does not want the Jooked-for change to catch him with a full .stock of goods which 'he must sell :at reduced prices in compj with the reduced offerings the manufacturer finds bare of orders and has to dis workers, reduce wages completely, perhaps Ion fore the alleged 'reform' go effect. That means the d of trade, diminished pro and scarcity ot employment involve hard !ima3 to tl ployed classand in turn"c minished consumption be the inability of idle m women to buy. The chan that by the time the prom ductions in the tariff conic acted by law this depression would have proceeded so far as to plunge the country into a gulf of gloom worse than any it has passed through in the last halt century. This for the reason that the mo ment the 'reform' seemed to have been decided on by the lawmakers of the nation there would be no more 'confident and contented c.pitalT invested in manufactur ing. Confidence would " be de stroyed, the wheels of commerce slowed down to a very tardy rate of movement, the busy hum of industry' ba sunk to a mere whisper, and that one of discon tented people working on part time and poor pay. It would be well tor President Cleveland to take the same pos: tion about the tariff question that hedges in regard to silver. Of the latter he said in his message that it 'rises above the plane of parly .. politics.' So does the other. It wuld be a sorry victory for the silver monometalists to gain what they are contending for and ruin the country. Equally it would be a poor success for the Southern democrats to carry out their 'tariff reform' at the cost of stopping 1 heir manufacturing industries and thereby prostrating all other busi ness activities. We are now too near the' edge of the precipice to warrant the carrying out of the democratic premises to reduce the tariff to a free trade level." Children Cry for Pitcher's Castoria. i?oor OF JAT TROUBLE. The root of the financial trouble is the withdrawal of deposits from banks. The extent of this is amaz ing. The controller of the cur rency estimates that $177,000,000 were withdrawn from national banks in the sixty days endin" - July i2in, wiien uie Jast repori was made Probably the with drawals in the month that has (elapsed since would raise the total t" $300,000,000. There are no statistics for withdrawals from sav ings and private banks. The tolal deposits in savings banks in the United Stales are about $1,700, 000,000, while the deposits in all the national banks are about $2,000,000,000. Deposits in pri Vate and state ban! me about of these $1,000,000,000. Many are time deposits, and it is not probable that so large a proportion has been drawn out as from na tional banks. But $'200,000,000 is certainly a low estimate for withdrawals. This makes $500,000,000, or half a billion dollars, drawn out oi the banks of the country in three months an amount nearly equal to the interest-bearing puwic debt, or to tlio tolal of the green back and treasury note circula tion an amount nearly one-third of the circulating medium of the United States. This is a tremen dous strain upon banking business of t lie country. The only wonder is that it has been borne so well. Monev withdrawn from the banks, it is understood,' is taken out oi active, fruitful circulation and reduced to temporary idleness and barrenness. Banks do not take deposits to lock them up, but to lend the money again to pro ductive enterprises and agencies. The effect of wholesale withdraw als is to paralyze tnese eiuerpnses and agencies. Banks threatened with? withdrawals contract their loans to accumulate a reserve and business sutlers. When the drain actually begins, all loans are stopped and eflort is made to call in money which is due to banks. This not only checks new business enterprises, but dwarfs, constricts and embarrasses old. When" banks actually fall, payment of all moneys due them is forced, and t upon p with of the ression f bank on n try, t been lyment. as been tm tiie unlry at most of na- ted by ness oi as any private enterprise avoukT lieel the loss of one-tenth of its capital, and the locking up of the remainder, since no bank dares to lend the deposits that are left to it. Hardly any enterprise in 1 he country, from the petty retail shop to the great factory, but is de pendent upon banking for the money with which it is conducted. The drying up of credit throws all in confusion. The country mer chant cannot buy goods of the city jobber. The wholesaler cannot make his usual purchases in New York. The $ev York broker can not buy of the mills, and the mills must close, since they dare not c cumulate stocks of goods with the prospect of tariff reduction staring them in the face. All along the line, enterprises of varying magni tude fall into idleness and unfruit fulness, profits stop, wages are re duced, men are discharged, and families feel the pinch of poverty. This is the result of withdrawal of half a billion dollars- from the working capital of the country. The cause is more" simple. The runs on banks are due solely to apprehension in the public mind that the standard of values is to be disturbed and the stability of currency shaken by tall to the sil ver basis. Of course that ca!am: ity is not deferred or averted by taking money out of a bank, but panic is unreasoning and this is the way it has ..chosen for ex pression. F.ear of the- silver basis is the realVoot of the bank strin- jency, which has been the main cause of the present business con vulsion. r-Oregonian. THE FIRST STRONG NOTE. While the money policy of Eng land, based upon the single gold standard, yields prodigious advan- j taes to the government and to a' iarge body of rich men whose wsallh is in the form of credits, it works upon the agricultural, mnn ufactoring and laboring classes the same sort of hardship that it does upon tiie corresponding classes of this country. In spite of the fact that the English farmer receives for his wheat a price equal to whaf is paid to the Caiifornian plus the cost of transport from here to Liverpool, English agri culture is in a desperate state. Lands have declined in value, rents have fallen, and are gener ally in arrears; and the condition of the agricultural laborer is little better than pauperism. In the English world of manufacture things are no better. Scores upon scores of factories are idle and their workmen are living upon charity. Other causes have con tributed largely to this state ot things, but the chief trouble is the increase in the value of gold re fleeted in the low price of every thing else. In brief, tl-e indus trial effects of the gold policy are ilioc-imo iii Il'ifhmd as in this r.mmti v The. reason whv we hear less of them is because the Eng Uili -until life does not reflect so quickly as ours does, the coudi ii'r.Tic urfpssit ies and demands of the people. The rich commercia class rules the British Empire and the selfish interests of commercia wealth are served by the gold pol rv Tim interests of the laud - owning aristocracy, of the manu facturers, of the factory operatives oi' the farmers and of the farm la borers are subordinated by the ruling forces of English politics to the interests of the bankers, the merchants and the KHe rich hold ers of vested funds. The first strong note of protest conies from a representative oi the aristocratic land-owning class J "rom no less a person than the j Ho.i. Arthur Ial!our, late Lord L'eulenant of Ireland and late leader of the conservatives in the house of commons. Mr. Ballour is next in rank to his uncle, the Earl of Salisbury, in the conserva tive party, his personal, like his political connections being of the highest. At a -meeting of digni taries held in London last Thurs day to consider the financial and business situation Mr. Balfour made the principal address. lie disclaimed political motives and alluded to the anxiety felt throughout the business world connected with the currency changes in India and the action that might be taken by the United States government. The gold standard, he declared, would never satisfy commercial wants, while the double standard alone would prevent dangerous oscillations in trade. lie condemned isolated action o:i the part of individual And yet lives in ignorance of the fact that a single applica tion of the CUTICURA REME DIES, will, in the majority of cases, afford instant relief, per mit rest and sleep and point to a speedy, permanent, and economical cure, when the best physicians and all other rem edies fail. CLTICURA Works Wonders, and its cures of tor turing, disfiguring, and humil iating humors are the most wonderful ever recorded. Bold throughout the world. Potter Dura AKD Che j.. Corp., role props., Boston. 4-" All About the Blood and Skin," mailed free. Facial Blemished, falling hair and sim ple baby rashes prevented by Cuticora 6uap, Nervous Musculai Instantly relieved by a Cntt- . cars Piaster, because it vi- JTlUbCUiar talizes toe nerve forces and WPflknpss ten?e cures nervous pains, tSienng. 118 Tortures EOZEIA stales, and recommended an in ternational agreement, fixing the ratio of values between gold and silver. In the course of his ad dress, Mr. Balfour said that Euro pean bimetallists' did not, like "some bimetallists of the western states of America," aim nt intla tion of the currency; but they be- ieved it would prove the safest commercial policy. It is not likely that Mr. Balfour's disclaimer of political motive was in entire candor. He is. no doubt, feeling the public pulse, as we would call it in America, with reference to the future policy of the conservative party, in which le statute close to the head. If ns expression last weeK snouiu i ill meet with hearty response, it is not unlikely that bimetallism will adopted as a leading feature in conservative tactics. Such a cours.e would naturally turn Amer ican sympathies to the conserva tive side of English politics. It vou!d be a stranire union of the ly West with- I he aristocratic classes of England against the bond holding and commercial classes of both countries. There is n gambling phrase about playing -both end ag.iins! t he middle," winch would seem to ah meat of international political forces I'auilic Rural Press. Farmers in various states are feeling their wiieat to hogs rather than sell lor the prices now ruling. In Ohio hogs are quoted at from $5 to $7 per hundred, according to grade, and it is estimated that a bushel of wheat, properly, ground and prepared and fed with a little other food to give variety, will put from fifteen to twenty ' pounds of flsh on a healthy hog. This being th;i case, the farmer can easily re alize 1 a bushel lor his wheat and s-ive the trouble of hauling it to market. In parts of Kansas the farmers are feeding wheat to hogs ana marketing their corn. Jack Denipsey, (he pugilist, is in a St. Paul hospital, and it is feared he is ptrmanently insane. "Only the Scars Remain' . Says Henry Hudson, of the James Smith Woolen Machinery Co., Philatlel phi a, Pa., who certi fies as follows: " Anions the many testimoni als which I see in. regard to cer tain ineiliciiiej performing K4 cures, cleansing none impress ma more than my own case. Twenty years ago, at the age of 18 years, I had swellings come on my 'legs, which broke and b e cam e r u n ning sores. Our family phy sician could do me no good, and it wa3 feared that the bones would be affected. At last, my good old Mother Urged EVSo to try Ayer's Sarsaparilla. I took three bottles, the sores healed, and I have not been troubled since. Only the scars remain, and the memory of the past, to remind me of the good Ayer's Sarsaparilla has done me. I now weigh two hundred and twenty pounds, and am in the best of health. I have been on the road for the past twelve years, have noticed Ayer's Sar saparilla advertised in all parts of the United States, and always take pleas ure in telling what good it did for me." Ayer's Sarsaparilla Prepared by Dr. J. C. Ayer & Co., Lowell, Mass. Cures others, witl cure you A GOOD THING FOIl SUMMER COMPLAINTS. Mr. J. ;W. Knnger, a well known mer chant of Clio, Iredell Co., Jorth Carolina cut -d four cases of flux with one small bottle of Chamberlain's Colic, Cholera ani 'Eiai- rhoea Remedy. This is the most prompt and most successful remedy in ue 'or dysentery, diarrhoea, colic, and cholera morbus. No other medicine will tak5 its place or do its work in this class of diseases. It is equally valuable for children and iidults. 25 and 50 cent bottles for sale by T. Graham,- Druggist. Caveats, and Trade-Marks obtained, and all Pat ent business conducted for Moderate Fees. ' Our Office is Opposite U. S. Patent Office, and we can seenre patent in less time than those remote from Washington. Send model, drawing or photo., with descrip-', tion. We advise;- if patentable or not, free of ehanre. Onr fee not one till patent is-secured. A Pamphlet, "How to ObtalnrPatents," with names ofactnol clients inyourSt,ate, county, or town, sent free. Address, C.A.SEMOW&CO- - Opposite Patent Office, Washington, 0. C - IP p IP I oJ-O-t; Meceived! A FRESH -LOT of SUMMER SAUSAGES . AT Headquarters for Foreign and Domestic Groceries. EE 7 FROM 25c TO $1.50 PER POUND. COFFEE FROM Mt 25c to 50c per pound. All kinds ol Farinaceous Goods in Stock. Canned Fruits, Fish, and Vegetables. A complete line of Smokers' Articles, Cigars, Jobacco, Brier and Meerschaum Pipes always on hand. Stationery, Playing Cards, Notions, and Pocket" Cut lery. Also a full line of Willow, Wooden and Stoneware. Tea, Cof fee and Spices a Specialty. Sole Agency lor Antifermentine to pre serve fruit without cooking. FISH 8d MURPHY, STOVES, 'IMWARE, Plumbing and Tin THE CORVALLIS GBEEN IJOSi AN TO n M AN UFACTURKHS 0 F ere 8n uoors Step Ladders, Painters' Extension Ladders, Ladders of any Desired Description, Trellises. Flower Stands, 8717 T7 DIG DUTCHMAN Ironing Boards, Clot lies Hacks, Kit chen Sales, Clipboards, Tables, Flour Bins, Etc., Etc 'MCE PICKETS by the THOUSAND. Can Furnish Picket Fence all Complete. All kinds of Job. Work Solicited. Factory in the Addition. it? TI T rn T-T- VV . JL . XiU nm Fruit 'Shade ar?d Ornamental Twos.-- ; Roses, Small Fruits. S- Grapevines. !3edge Plants, &e Fo cUrj the Wo.i derfui Term In interested q;i )-hi!f mile Yfv'st Growing Stock. J. J). Mm 1 UJLs Accordir.e to instructions received from headquarters, Messrs. Conover & Keady are eisaMed to make Great Rednc tion in the price of Wheels.. They v.iJl now and for a short time pniy, sell .THES famous IMPERIAL" JET or $125 on the AIJ Otlier Wlieeis at $100 - Work a Specialty. 9. m ana indows CLOTHES LINES, ETC., t 1 TT -ft IT A x "X T" V X -iii. , flianaffei'.- iL'altliy a;:d V 'porous. ; Lending rurchnf e:;F :u:d othfiB sire invited to c;ill at Grounds of Co'rva "lis and examine CLARK, Manager. ; -- JETS- Installment Plan. 3 Great Sacrifice Prices. m wmmm m is it fi b a a ti tr i ii vi m t a w. n ? b s n 30 " AI,St WHEEL Gazette Building, Corvallis, Oregon. V -3 so. Fen a c.ee it willnot. cure, j An iirveeable Laxat ive and N ERVE TON IC. Sold by Druggists or sent, by mail. 23c, 50o., and $1.00 per package. Samples free, -jrw', TSST The Favorite TC0T2 EOOTSB M. LtypforthoTeethtndBreath,25o. For sale by T. Graham. ALBERT BHOWNELL (Successor to Hyman 4c B'or. nell) Proprietor. CFFKi: AND PACKETS GBOTOLS, one-half mile soutiwest of the City. I would call the attention of niy friend s to the fact" that 1 am better prepared than ever before to furnish everything in the shape of FRUIT, SHADE AND ORNAMENTAL TREES, Small Fruit Vines, etc., At cither wholesale or retail. Mv stock is first-class, ariiriraiitccd true to name an FliKK KUOM INSECT PI.STS and my .ri;cs low. Coinc and sc rue or write for free price lit to ALBES.T BEOWNELL, Benton County PLANING MILLS AND W. P. Itf! ARTYN, Proprietor. Doors and Sash kept in stock or made to order. Mouldings of all kinds in pine of cedar. All orders will receive prompt at tention. I guarantee all my work to be first-class. West of S. 1 depot, Corvallis, Oregon. 8-8-tf. T3enton County liO-dJJUibJ b-t I r-orrmlete Set of Abstracts of Benton O'u n ty. 4 m " 1 Money to Lotd on I rnprovcO City j aiiil i.lu:;try P. oorl V I 1 fl. R it U:, MA i N tS-J'.. COM' 'Ai.r.is. M. Ai"l" . :s i-i.l. Jul-Viilli-, OlOIl, C),!l:-s(,vtr .!. I). Clink's hard sva re More, and nt U. (Jraham's ilnish.-ifj. IIo:.rs: S to 12 a. m , U30 lo 5. a: l 7 U H:'di) V. ra. PETT ),mu1I i V ft AND CUiLDER. veil ti ,ftf' r:ri. "tiiT 1 :tl li'isr. ;. ! i i i",' "i liiti ! : ffi"i- 1 1 ; .:'.!.'!"'.'''. I -i'ti f'.-Ti:d to ti j .: r,i aii ,' 'nn - v.iili Pcutltoi an uii Up I'A'O black ri'tit EAST jffl SOUTH VIA THE SHASTA ROUTE OF THE SoutliGin Pacific Company. Express Trains Leave Portland Daily. SOUTH. SOBTll. Lv Pori.hiPd 7:00p. m, I I.v Snn Krifco 7:00 pm Lv Allianv... ia-2A p. m. 'Lv Alliany 4:23ara Ar San Frisc( l)lfta.m. Ar Hurtland 7 .aft am A br vc trains btop only at fullowin stations north of Kosebnrtf. ast Portland, Oret'on ity, Wood burn, SnJuni, Albany, Tangent, Sliudds, llalscy, Har rihburg, Junction City. Irving, I-.pen. Koxcbnrg Mail Daily. Lv Portland H::;u a. in. I Lv Hosi burg... 7.00 a. m Lv Alliany 12:45 p. in. I Lv Albany 12:30 p. m Ar ltoscbnrs,' 5:50 p m I Ar Portland 4:M0 p. Alliany Local Il.iily Enceyt Sunday. lkavk: Portland 5:01 p. ,m. Albany (S:30 a. ni. aiuuvk: Allaiij 0:00 p. rn Portland 10:30 a. m Ix'lianon Crunch. 8:10 a m. .,Lv. . .Alliany Ar. ..3:.ri p m 9:00 a m..Ar... Lebanon... I.v... 2:3fl p m l;20p m..Lv... Albany Ar. .10.21 am 2:09 a m..Ar... Lebanon.. .Lv ...9:30 a m DINING CARS ON OGDEN ROUTE. Pullman Buffet Sleepers: AND SECOND-CLASS SLEEPING CAKS, Attached to all through trains. Wea Sift Dnis'.on. BETWEEN POKXLAKD AMD COKVALLI3. KiUTxafc. Dacl Except Cusdi7. LEAVE. JMIRIVK Portland 7 a. m. Corvallis 12:15 p. m Corvallis 1:00 p. m. Portland 6:36 p. in At Albany and Corvallis connect with trains ot the , Oregon Pacific Kailruad. Express Train. EailjIiccptCssdiy. . LKAVK. Portland...... 4:40 p. Bi. UMinnville 5:45 a.m. AKKIVE. McMinnvtlle... 7:25 p. m Portland 8:2 5. ro THROUGH TICKETS To all points in the . Eastern States, Canada and Europe ean be obtained at lowest rates from A. K. Milner, agent, Corvallis. ' gaSil AID jJSOB f-fiCTORY.