THE 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.