T Street Pufl
t :i,f
WOULD NOT BENEFIT
scheme to create something out of noth
ing has proved disastrous.
The Money of the InMed States.
The money of the United States con
sists of gold coin and gold certificates,
I ill 11 ,1 silver coin and silver certificates, legal-
PrOdUCei'S anCl LaDOrerS iNOt i tender notes payable on demand at the
treasury or me t, nueu mares in guiu,
Helped by Free Coinage.
THE FUNCTIONS OF MONEY
Extract From a Speech by Senator J. N.
Dolpli Before the Mount Tabor
Itepuhllc.au Club
A slock argument of the advocates of
unlimited coinage of sliver Is that the
American producer would, if the country
were on a silver basis, receive more for his
products; that the farmer would receive
more lor hU wheat and cotton. But a
moment's reflection will convince any one
that this Is not so. The wheat and cotton
markets of the world would, with free
coinage of silver, continue to be abroad.
The price of wheat and cotton would be
fixed in gold in Kurope by the supply and
demand. It could make no difference to
the producer whether the purchaser of
his products drew exchange on Liverpool
In gold and paid him In gold, or whether
he drew the gold and bought silver and
paid him the equivalent of gold In silver.
If It Is smiriosed that payment in
cheaper dollars would be a benefit to the
American producer he can secure the
r-arne benefit now by demanding payment
for his product in half dollars or by meas
uring his wheat In a half-bushel measure
Instead of a In shel measure.
As money is a measure of value, the real
price of commodities Is not affected by
the kind of money they are measured In
ny more than by the denominations of the
same kind of money In which pay
ment Is made. When the benefit to be de
rived from cheap money Is examined, 11
will be found to consist only of the sup
posed ability of debtors to pay certain
debts In a depreciated currency. The
amount of debts which could be so paid
would be Insignificant, for as I have said
the great bulk of Indebtedness Is by the
terms of the contract payable In gold.
The payment of antecedent debts with
depreciated silver would be of ques
tionable honenty, as even If gold has ap
preciated In value more, the 9!i per cent of
all Indebtedness of today which would be
payable In silver Is of very recent origin,
anil was contracted on the gold basis since
the great fall in the price of silver. And
It Is quite probable that the supposed ad
vantage to the class of creditors who
could pay their debts In silver Is more
fanciful thun real, considering the prob
able stringency In the money market, the
Increased Interest nnd the sacrifices It
would require to take advantage of the op
portunity of paying their debts In a depre
ciated currency,
The I'lincllona of Money.
Tn discussing the question of unlimited
coinage of silver It Ih well to keep clearly
In mind the true character and ollice of
money.
Money Is a tool of exchange, a measure
Of values.
Writers on political economy regard the
use of money as three In number, vis:
To furnish:
'"list The common medium by which ex
changes ure rendered possible.
Hecond -The common measure by which
the comparative values of exchange can
be incastirt'd.
Third-Tim standard by which future ob
ligations are to be determined.
The nVcessllv fur a tool of exchange
grew out of the advancing civilisation of
the race, the division of labor, and the
Tonni-quent neoeiHliy for exchanges of
the products of labor. Hurler, that Is, the
exchange of one labor product for a not her.
Wan an Inconvenient and cosily method of
roniluctlng commercial transactions, and
It liecinne necessary t" provide some com
mon measure or values for which one pro.
rimer of labor products could exchange
ru product", mil which he could In turn
exchange fur sin Ii lalsir products as he
Herded.
This tool of em hinge adopted, whatever
It might he, was money. The value of mon
ey III our sene Is the rate of Interest It
ill bring: In another sense. It Is the
amount of lalsir nrodiicls It will purchase.
The choice of ineluls for money and of
gold and silver among the met a la has
..in a linn ( of growth, keeping pace
Willi the advancement of the race In clvll-
Ixallon.
Hold and silver lodav constitute the prln
dual I'liriem i of civ lined nations by rea
son of Ihelr adtpliilmii tor U as money
The natiim! leqiilienieiits of money or
of a Imil of ruchange will le obvious
W hen they are stale I.
Tlie reiMlrrinenl of go I money are:
First ll mil"! be valuable.
Second -It must be of gir.it value In
ptcHirllon to Ma weight and bulk.
Third -It ttiual lie of uniform value.
north ll iiiii-t be divisible without loss.
l iflll It iinit lie durable.
rtiilh ll mo. I lie rilly diatlngulhnbl.
1 1. .1,1 and silver Biess these qualities,
and o have survived In rlvlllard roiinlrlri
thr ii of hi he r nn'isls as monry.
il.ild Bie soTie of these qualltle
! a gieatrr .bane than silver, and so
llirre has l-en a tendency among com
tii.-rrlil nations lo adept gold as llirir
a an.lnr I.
i Hild an I "liver If tlae.l In the form Ot
flu! or Iwia would tie Inconvenient, as
When Ihev were lase, from hsnd to
tan4 Ihry iiiikI be weighed and aayd
ir rkamltie-t In some manner la ascertain
Ihnr weight and llrienena. In determine
then Valur I Int. e the nrcetaily tor
n.ige.
t'.iinage. t believe, was fir! optet by
lite., aiil then prred lo 1 1 a I v . an I is
tma uractlced by all civilised emuilrir
Al r.ral only Ihe qual ty or llueiiraa of
t . metal iinii'l upon It.
Atieraarl li ai ght wt value Indi
cate! W hen co.'tvgrt m ante a government
f .nrllofl Ihr iliir for l,.e w aa rilled
gni'iraK VV 1-1 n the gov eminent
onte.$ ihr dolt ,f r.t O'lg a'li Ilie tetitt.
ttlntn lo d' !. 4'r lhtt v'ne itf c ..i.a, I
hi more ' with ihe g .1 1 and ailvr,
rr In tl inn h the Wrliihl id Ih ce n f,.t
lh inrpo of tr,ivili't pllbl.c tevenoe
Hot from I ir lime w'in lh llrt money
tuitirl a"l I hi in olalio rvety
a lentil H lis lo ifia'e Value. Hull"
a I a it wr ghl c i n ci'Ui i,i a inn wr-g'ii fc
t or lo nl in . t. .mil n a ti-I nit-l-o
'r lo i I -i in il-'e in toin of lo I v vioe
en Itiiitnl, h lrn a t-i.tute it it.
treasury notes Issued under the act known
as the Sherman law redeemable In coin,
gold or silver coin (but up to this time re
deemed when presented for redemption
in gold coin), and in national bank notes.
The gold coin is money possessing In
trinsic value to its face value as money.
Melt It, and in bars It would be worth as
much as the coin.
The gold certificates are worth their
face not on account of their Intrinsic value,
which Is nothing at all, but because they
can be exchanged at pleasure for gold
coin deposited In the treasury for their re
demption. The legal-tender notes possess no Intrin
sic value, but they are at par with
gold because they may be, on demand at
the treasury of the United States, convert
ed Into gold, and a reserve of $100,00(1,000
of gold has been provided by law for their
redemption, and the secretary of the treas
ury has been authorized, If necessary, to
sell bonds of the United States to provide
gold for their redemption.
The national bank notes are secured by
deposits of United States bonds, and when
a national bank fails or Its notes are to
be withdrawn from circulation the pro
ceeds of the bonds are applied by the
United States to the payment of the notes
in gold or Its equivalent.
The treasury notes, Issued for the pur
chase of silver bullion under the Sherman
law, while by their terms payable In coin,
were issued under an act or con
gress which contains a declaration
substantially to the effect that It
Is the policy of the United States
to maintain the parity between golf
and silver coins, and to do this the sec
tary of the treasury redeems the r
presented for redemption In gold
The measure of values in tne jtfnitea
States Is gold the gold coins of the
United States. The several kinds of money
Just mentioned except gold coin are the
equivalents of gold coin of the United
States, because they are convertible into
gold coin. The sliver coins of the United
States are Intrinsically worth only the
value of the sliver bullion they contain,
something over 50 per cent of their face.
The sliver certificates are intrinsically
worth nothing, but are valuable because
they can be converted Into Bilver coin
which possesses Intrinsic value. Both sil
ver coin and silver certificates possess a
purchasing and exchangeable value In ex
cess of the value of the silver they con
tain or represent by reason of the limited
provision made by the government for
their redemption in gold and the faith of
the public that the government will main
tain their circulation as the equivalent of
gold and will redeem them at their face In
gold.
The free-coinage advocates deny that
any provision of law exists for the re
demption In gold of silver coin and sil
ver certificates, and would have us be
lieve that silver coin and sliver certificate
circulate at par with gold because they
have been given some of the functions of
money. I admit that the redemption of
sliver coin and silver certificates In gold
upon presentation to the United Slates
treasury has not been provided for as In
the case of gold certificates and legal-tender
currency, but It Is true nevertheless
that provision for a practically limited re
demption of them has been made.
The silver dollar of the United States
has been Issued and put In circulation by
the government substantially with this dec
laration and promise: 'This coin con
tains 412'4 grains of standard silver, Is In
trinsically worth whatever the bullion it
contains la worth In the markets of the
world, but It Is Issued upon the under
taking of the United States that It will
to the extent of the revenue collected by
the government (some Ioiio.OjO.OOI) annually)
redeem It In gold by Its receipt for public
dues as the equivalent of a gold dollar."
This provision and the faith of the public
that the government will pursue a financial
policy which will maintain the silver
lollar in circulation as the equivalent or
the gold dollar has been sulllclent hereto
fore to maintain the purity between our
gold and sliver coin, but there have been
times when public confidence appeared to
be shaken and they threatened to part
company. How long this limited redemp
tion of silver currency will be. lutncienl
to keep silver dollars and sliver certifi
cates nt par with gold coin Is a question
unon which there Is a wide difference of
opinion. The discontinuance by tha United
States of the purchase of silver bullion has
positioned and let us hot avoided the
catastrophe which wa aura to have fol
lowed from a continuation of the policy
of Increasing our silver and legnl-tendcr
currency without a corresponding Increaae
of gold available for It redemption. Hut
If dill lea should lie ma le payable In gold
only, a ha hern suggested, the lilvrr
dollar would at one depreciate to It bul
lion value.
by It at
the adr
secreta
appep
It
Gr
r
both gold and silver as money with unlim
ited coinage of both, unless the legal ratio
for coinage was the same as the commer
cial ratio of the bullion values of the two
metals, and It appears to have been
thought Impracticable to maintain such a
legal ratio. The ratio of IS to 1 was
adopted by the act of 1834, and as a con
sequence gold circulated in the United
States and silver rapidly went out of cir
culation and was exported.
As our fractional coin, our half dollars
and quarter dollars, contained proportion
ately the same amount of silver as our
silver dollars, they could not be kept
In the country, but were exported to be
consigned to the melting pot, and In 1853
congress was compelled in order to keep
silver fractional coins In circulation to
reduce the amount of silver In half dol
lars and quarter dollars so that it would
be no longer profitable to export them.
The amount of standard silver In the
fractional silver coins of the face value
of a dollar, under the act of 1834, was
fixed at 3S5 grains. Gold was made the
standard, or measure, of value; the legal
tender quality of the fractional coins, in
order that no Injustice should be done to
creditors whose claims were payable in
full-weight money, was limited to sums
of Jo, and in order that inldviduals should
not make a profit out of free coinage of
depreciated silver fractional coins, and
that the coinage of silver might be limited
and controlled by the government, the
right of coinage of fractional coins for in
dividuals was aken away, and the gov
ernment res' ed to itself the right to
coin fractio- coin from bullion purchased
rket rates. Although under
tration of some subsequent
t the treasury, fractional coins
ave been coined for Individuals,
one without authority of law.
silver never circulated concur
n this country while we had
inage of both, and will never cir
concurrently In any country with
e coinage of both, when either Is under--valued
by the coinage ratio.
The intention of Secretary Hamilton and
of congress In fixing 371 grains of pure
silver as the amount of silver the silver
dollar should contain under the act of 1792
was to make the silver dollar of the
United States the equivalent In value of
the Spanish milled dollars In circulation
In the United States at the time, and the
actual weight and value of the Spanish
silver dollars in the United States were
ascertained by collecting and weighing a
large number of them. But the Spanish
milled silver dollars then In circulation In
the United States were abraded by use to
the extent of 2V4 per cent.
Our principal foreign trade was then
with the West India islands, and those
engaged in this trade soon found that our
new sliver dollars could be exchanged in
the West Indies for the new Spanish
milled dollars, which contained more sli
ver than they did, and that the new
Spanish milled dollars could be melted and
recolned In the United States at a profit,
and the consequence was that as fast as
our mint coined silver dollars they were
taken to the West Indies and exchanged
for new Spanish milled silver dollars, to
go through the same process of being
coined Into silver dollars of the United
States and exported. To prevent this
President Jefferson, without any law au
thorizing it. In lSOTi, by an order to the
director of the mint, suspended the coin
age of silver dolars, and none were again
coined until 1810, except $1000 In 1836 and
t In 1S39.
There wus a great clamor raised against
Secretary Carlisle and President Cleve
land, because It was alleged that for the
last month or two prior to the taking effect
of the repeal of the purchasing clause of
the Sherman law the full amount of silver
required to be purchased by the sec
retary of the treasury by that law month
ly had not been purchased. The discon
tinuance of the coinage of silver dollar
by tha act of congress in 1873 has
been assailed, misrepresented, and called a
rime. Hut what shall be said con
cerning the great apostle of democracy.
'resident Jefferson, and hi democratic
successors In office, who discontinued the
coinage of the silver dollar for a third of
a century without authority of law?
THEY CAN'T GO BRYAN
Three Leading Democrats
of Oregon Bolt.
THEY STATE THEIR POSITIONS
Ex-Governor Thayer, Judge Bronaugh
and Benton Klllln' Denounce
the Chicago l'latform.
Three leading democrats of Portland have
furnished The Oregonian with interviews
containing their reasons for refusing to
support Bryan and the Chicago platform.
They are ex-Governor W. W. Thayer,
ludge K. C. Bronaugh and Mr. B. Kill
in, all of whom are known from one end
of the state to the other, and whose opin
ions and actions will, without doubt, have
muh weight with the rank and file of
democracy. The Interviews follow:
e:x-goverxor w. w. thayer.
The Chicago Platform nn Kxpreaslon
of Annrchy.
Ex-Governor Thayer had the following
to say:
"I cannot support the candidates for
president and vice-president nominated at
the late democratic convention, held at cni
?ago, Mr. Bryan and Mr. Sewall. They
may be worthy men for the respective po
sitions for which they are candidates, so
far as personal Integrity of character is
jorlty have always voted the democratic
ticket. Being a Southerner by birth and
residence, I went with the South In the
war between the states, and then thought
I was in the right, but since the war ended
I have continually thanked God that the
attempt at secession was unsuccessful,
and that the slaves were freed as the re
sult of the war. And more than all I
thank him that the stars and stripes now
float over our fully reunited country. My
sincere desire, therefore, Is to do all that
lies within my power to uphold its consti
tution and laws.
"The platform on which Mr. Bryan was
nominated is not in accord with the doc
trines of the democratic party, and the
principles which he advocates I consider
to be most dangerous to our governmental
institutions and the welfare of our peo
ple. I shall, therefore, vote against him,
ahd, in order to do so effectively, shall vote
for McKlnley. A vote for Mr. Palmer,
who cannot possibly be elected, would sim
ply be thrown away. The perils of the
hour, as I estimate them, appear to de
mand that all patriotic men should con
centrate their votes, regardless of former
party prejudices and predilections, upon
McKlnley and Hobart as the only avail
able representatives of law and order and
the material welfare of our country."
Mlt. BEXTOX KII.LIX.
Brynn'a Cmiipolan Curried o by the
Disco n ten teil.
Mr. Bentor Killin said: "The Bryan
campaign Is not, as pretended, a campaign
against occupations. The ranks of his sup
porters are honeycombed with unsuccess
ful bankers, lawyers, politicians and man
ufacturers. It is a campaign against the
intelligent and successful members of oc
cupation8.
'When the intelligence and character or
the country are beaten and In subjection
oncerned. Very probably they are; but I and Mr. Bryan placed In power, he and
Tt...
rlf Vi I'
Ir l .
I IMI
I - a of r
I ahatl
I
The olaaar l aws nt (be I ultra! stale
To show Hint with the free rolnag of
silver al the ratio of l 10 1 by the United
Htale alone parity between our gold an
silver currency could not be maintained. It
la only necessary tu refer to our own
coinage law a. although tha hlatorlr of oth
er natron might b cited and would ho
that their expcrirnce havt been similar to
our own.
From I7il lo 1MI ouf coinage law pro
vided for I ha unlimited coinage of both
gul I and silver at the ratio of 16 lo I, and
soil wa not coined in tht country, or.
If coined. Irfl Ih country.
Secretary of tha Treasury Hamilton, In
recommending the rtlo between gold and
silver fur coinage, endeavored to adopt
the worll ratio between gold and tlrr
bullion. Hut there wa at that lima great
itlnVulty In determining tha commercial r
tin hrtarrn the tan melala. Th commerce
of the world W comparatively In Ha In
fancy. Communication betarrn the I'nllel
Hiatra and Ihe Uumpean countrlea reqiitrej
lime. Al Amsterdam, a record appear la
hav Wen kepi of tha rommerc al tallo be
linen gold and (liver, hot I am not In
foime j that iHti a recutj wa kept else
liele
lloarver, al bt I me our mint raiah
I .be I. the legal ratio a I -pie I appear to
have been very nejrlv the anrll romin't
id hi .i -rir.n o artl silver Hot very
horn after our In at at tatl i filed al
l.i l.i I I've ctoimrf. .al tatla hefoeen In
: la.i mia he tm ni'-re nearly .cf it i.
I the t o te riioi of trance, whoh w v
1 en. te. in Ifcd ton whi.h wa to! My
' tr .iire aa un U r previcua Uaa
i hi . o,,ni j,f tha 1 1 at :v I overvat ivtiol
( ivn l.v our t-aal uin, "! I cull ni
I in Ih com irr. aa It o or,i.
!.! to t m-nl it I i i. nlr e ahrre H va
worth more In rf iV in In the I'ciiel
it u. .Nine tiiioot.l, an I w hat-
am satisfied that their election under the
circumstances and conditions of the coun
try at this time, would be highly disastrous
to Us peace and welfare. I have long been
convinced that the most serious danger
which threatens the stability of our Institu
tions and the perpetuity of our gov
ernment Is not from any encroachment
liable to be made by the government upon
the right of the people; that the latter
would be perfectly secure without a Magna
Charta even, but that it Is from a revolu
tionary and anarchistic spirit which ap
pears to pervade the community to an
alarming extent. And It seems to me that
the course of conduct pursued by the ma
lorlty of members of the Chicago conven
tion was designed and Intended to encour
age that spirit. They Indicated a purpose
and determination to enforce a civil and
financial policy of government to uit
their own whims, without care or consid
eration for the opinions of our wtaest
statesmen and a large body of our most
highly-respected and conservative citizens.
Their attitude towards every one opposed
to their vagaries exhibits a vicious tem
per, and the scheme they propose to carry
out Is one fraught with mischief,
"The president of the United States
whom, four years ago, they ardently sup
ported, in now, according to their view, too
jontemptlble to be treated with respect, and
the head and front of his offending seems
to have been that he has attempted to en
force the law and maintain public credit.
"The supreme court of the United States,
composed of members whose learning, abil
ity and high character for Integrity, the
American people ought to be proud of, they
propose to reorganize in uch a manner that
It will carry out their wild theories and
caprices. And their whole aim evidently Is
to Incite antagonism between the different
sections of the country and classes of Its
Inhabitants,
"In the name of heaven, have we not
already suffered enough from sectional anl-
hls platform clearly say to his followers
You can loot, you can burn, you can rape.
you can murder, and there will be no
troops called out to interfere. With these
facts and conditions undisputed and openly
put forward for the purpose of securing
the votes of the idle, criminal and disloy
al, It Is plainly the duty of every well-
wisher of our country to stand actively
and firmly together against Bryan and the
forces behind him.
TO PROTECT HOMES.
Portland I.adlea Have Organized and
An Enthusiastic for McKlnley
The Multnomah Women's McKlnley and
Hobart Auxiliary League held an Interest
lng meeting In the main hall of the Cham
ber of Commerce building, yesterday aft
ernoon. Mrs. Mary Ward, the president,
was In the chair. Interest In the worn
an' league dally increases, and those who
have become associated with its workings
are enthusiastic over the plan of campaig
that has been mapped out for them
The following address was read and
unanimously adopted:
AN ADDRESS ISSUED.
"To the Women of the West: The Mult
nomah Woman's Republican Association
sends greeting and bills you pause for re
flection upon the condition of our homes,
hlch, combined, constitute our nation.
'The electors of our country are about
to place the management of governmental
affairs In the hands of certain men, repre
senting certain beliefs, and dominated by
certain elements, which will result In the
prosperity or destruction of your homes.
The national republican convention
placed the following words In their plat
form:
'Temperance. We sympathize with all
ing the mlneowner dig hts silver?
More than J2,OO0,O0O,OOO were paid In wages
to labor by our factories In 1890; when the
factory closes, the pay-roll closes. Do the
people care for this, or is It gratification
enough for them to see the silver-producer
prosper?
The miners dug JlOO.ooo.OOO out of our
mines, but the laborers dug more than
;2,O0O,0O0,0O0 out of our factories.
California ranks as the greatest of gold-
mining states, and one of the three high
est in production of both gold and silver;
as a manufacturing state she ranks twelfth
the Union, and yet her manufactured
product was over e213.OflO,O0O in 18'JO, more
than TWICE THE VALUE OP ALL, THE
GOLD AND SILVEK PRODUCED BY
THE WHOLE IN ANY YEAR.
California mines the least silver of the
five states named. Why should Bhe pre
fer to open mints to free sliver, rather than
open mills to free labor? Her factories
producd $200,000,000 more of wealth in 1890
than did all her mines; San Francisco alone
turned out $35,000,000 more from her fac
tories than the whole United States did
from her mines. Where, then, 13 her chief
Interest?
Colorado, although regarded as essential
ly a mining state, produced $42.S0O,00O of
manufactures, as against $30,000,000 from
her mines. With free trade this would
undoubtedly be reversed in Colorado, but
would that benefit the manufacturers, her
farmers and her workingmcn?
The states in which the mining output ex
ceeded the value of manufactures were
four Idaho, Montana, Nevada und Utah
and the combined population ot all of
them was 470,210, considerably less than
that ot our two little sisters, Rhode Island
and Delaware. With protected Industries,
the manufactures In the?e four states would
soon outstrip mining and the farmers and
herders would people their countless val
leys. Let us waive the discussion ot the ef
facts of the free, unlimited and independ
ent coinage of silver at 16 to 1, and for
the moment admit that It would be gen
erally advantageous. What would be the ,
situation?
The next administration will surely be
dominated either by the populists, pledged
to free silver and the most radical free
trade, or by the republicans, -pledged to a
sound currency and protection to manu
factures and labor. We cannot, therefore,
obtain both protection and free coinage,
even If both are good. A choice must be
made. Which shall It be? With the elec
tion of Bryan, protection would be a dead
letter, and free coinage would place the
United States In the rear rank with In
dia, China and Mexico.
With the republican party In power, and
a statesman at the helm, our great Indus
tries would receive a stimulus; national
credit would be secure; labor would have
opportunities which should always be open
to It, and a new era of progress would set
In as a fit closing for the nineteenth cen
tury. Shall It be open mints with repudiation,
stagnation and confusion, or open mill
with prosperity and honor?
WOMAN'S CAMPAIGN WORK..
Never was there before a presidential
rampaign iu which the women of the
country have taken such au active part
as iu the present struggle.
wise and legitimate effort to lessen and
mosltles? It seem to me that the Amerl- I prevent the evil of Intemperance and pro-
can citizen who rnnnot see that the courae mote morality.
of the majority of the member of that con- I " "nights of Women. The republican
ventlon, and which they and their adherent I party 1 mindful of the rights and Inter
are now pursuing, doe not point to an- I est of women. Hrotectlon of American
In three states of the Union, Wyo
ming, Colorado und Utah, women have
the same votiug privileges as men: but
feminine Interests iu the campaign are
by no means limited to those state.
Intelligent women nil over the country
seem to feci that the contest lias an im
portant bearing upon the welfare of their
households. They think that tbe cause
f protection ami sound money is bound
u with the prosperity of the family,
nd they feel a great interest in the Re
publican presidential candidate because
of the nobility of his character and bia
devotion to hi borne life.
The Money of the Conatllnllon.
We hear a great deal nlout the money of
the constitution, but Just what I meant
by the expression Is not apparent. The
truth I there Is no money of the constitu
tion. The constitutional provision con
cerning money are a follows:
Congress has power "to coin money and
regulate the value thereof," and "no date
hall make anything but gold and silver
coin a legal tender In payment of debt."
The grant of power to congres la to coin
monry, but It I not provided wht metal
shall be coined The government doe coin
nickel and copper, anil llier I no consti
tutional prohibition against coining other
mrtal. If congres could coin only gold
and illvrr there I no provlskn thai It hall
coin them for Individual or fix tha legal
ratio for coining purnoaea. It might coin
either one and nut coin Ihe other. Con
gres haa several time changed the legal
ratio between gold and silver lor coinage
purposed
Thla whole talk about the money of Ih
constitution I Ihe mere rl.ip-tran, ;,uen I-
ed lo catch the ear and dee?!'. those who
hav not tha lime or opportunity lo Inves
tigate for themaelve
There la X atwral Italia Itetneea
liold and ller.
There I much abaurd talk by mm of
ability and vrn of national reputation
t.out the Creator having mad gold and
allver monry, having made them twin
metal. The purpo la lo errata an Im
prr.alon that nature h flsr! Ih relative
value of the two metal. fWb a propo
altlun la too absurd to reoulr refutation.
The value of all the product of human
labor and ot all Ih earth pro lure are
ft ted by the law of supply and demand.
Thrir value depend Upon Ih cost of Ihelr
production and their adaptation to turpi
the wanta of man ml.
Iron, cower. hrl and other ml'.
a In, anlmala, beada and (heila ant many
other article have len ur. for monry
! 1 Ihe Creator by hi Dal makr I hem ail
money 7
The commercial tat 10 between gold and
liver, whl. h 1 Bil by Ihe universal la
of nui'ly and demand, haa ar'l from
ace t Ir on year Id year, and from
month to month, ai I from day lo day of
In ama month ll ha III rl In
d.ftrir, C'MinlrLra
In Home ear It . II wa It V. 1
ii i. i. : ii v. ts.1, fat a i. t: - r
arrhy, I certainly blind. It whole ten
dency la In that direction. Anil who la to
be benefited by It consequence? No one
but the reck leu adventurer, who ha
everything to gain and nothing to lose. It
certainly will not be thr man who by thrift
has accumulated a little property to sup
port himself and family In hi declining
year, and la called upon to divide It up
with Idle and unthrifty persona.
"Hut, aay aome, w have hard time upon
uas and must have relief, and the only
relief lo be obtained I the adoption of Ihe
free coinage of silver. A resort to the
Industrie Include equal opportunities.
equal pay for equal work, and protection
to the home. We favor the admission or
women to wider sphere of usefulness, and
welcome their co-operation In rescuing the
country from democratic and populltic
management and misrule.'
"Awake, then, lo the emergency of the
hour. I'ut on the whole armor of domestic
activity and consider well the lesson of
the past lbat you may give wise counsel.
"Four yeara ago Ih paramount issue
waa the tariff question. The country wa
then In a prosperous condition. The re-
free coinage of allver might be neceaury publican party favored protection to home
unaer some conuuion or circumstance, it Industry. The democratic party promiaea
probably would be If the volume ot cold
together with the allver now In ue a
monry and being maintained at party
with gold, were Inadequate to transact the
commercial affair of the world; but to
adopt the free coinage of allver at thl
time. Instead of proving a relief, would
postpone the return of good timet for
yera.
"There I 1)0 turh trarelty of gold. The
volume ha not only been kept up, but
ha Increased, ind la now being added to
an output of ovrr tJuo.fto.ouo annually.
It la not In circulation aa freely aa
might dealre, perhapa, and will not be un.
free trade. The democratic presidential
and a majority of the congresalonal candi
date were elected. Long year of finan
cial ruin, of domritlc privation and uf
ferlng bv followed tha election of 1KO.
"The party reprewnted by . J. Hryn
I the party of free trade, and. In addi
tion to free trade, be Hand for tn ire
and unlimited coinage of Hlver.
"William McKlnley represent Ih con
aervativ method of bringing about Ihe free
coinage of allver International agreement.
"SuppoM the maatrr of your home wrre
to tell you that ha wa about 10 remove
Ihe fence around your house and garden
til It potaeeaor era aaaured that they ran I auppoa cattl were walking through the
Invset It with reasonable prospect of get- I itreeta tnd lane. Would you e in
ting It bark again, or lla equivalent No I fence removed without a protrat? Would
prudent man will Invest hi accumulation I you not tk that Ih fmc be permitted
In time ot civil dimension or threatened to remain until there wa an Intrr-ntlgh-
change of the Mtlng ytem in mone
tary affair. II wiil amnrr wait and are
what the new yaiem bring forth. And
If the free coinage of allver at the ratio
of U to 1 were adopted Inlay, and an
amount bwued ufTtclent to transact bual
neea, who would be benefited thereby? It
certainly would not be those who are In
debt, their obligation at a gtneral rule
are payable In gold, and they would be
rompeiied to nurrhoaa gold with which to
dlwharge them. Who would that benefit
bul the 'gold-buga'? They would be in a
condition to etai-t u amount of eg
change a their connimce would permit.
and th unfortunate debtor who I drug
glint" along to g out of del.i won, J be
further burdened by t'i new fratur
which wou.d ana.
"Tha fre.coine i!r pu f cannot,
however. fio:bly be carnd out for yrer
le com If Mr llryan were lo he rle i.t
A taw wou'.d havr la be rna-iel author
in It. and It would r,!te a long I, me ta
riva a aoffl-'Senl amount to answer bu.rra
riitrmett'.a In the meant .me. go d won
be boarded mote r than B . and
Ihe i..t--t.tniiy be deailtuta l m ney rn
borhood agreement a to itotk law, to
that your lawn, your flower, your vege
table, might be prearryrd from the rav
age of your neighbor" rattle?
"Think of the danger brought upon in
country by the democratic policy In the
peal. Iteflecl upon Ih comparative pros
perity attendant upon Ihe dominance ot
republican principle in tne paai.
"Ak that ballot be rt upon Ihe (Id
of ronbl caution; that the dignity of
your home be preaervrd; that the t roper
lly of Ihe ration be featured; that Ihe ad'
ministration of republican pr.rirtple be
rraum'd. Kor.
"A vol for w. J. nry mn Ihe gov
ernment may engage In etprimani
li a atmn dangeroua t the fiy and
permanency of American loailluiloM.
"A vote for w t,i am McKlnley mean a
careful, Ju l.. uj. honorable and aafa con
do I of i.vii.1 c ana ra
"Your far republe-anlam, whk-n I f
Ifotiam."
MILLS OR MINES.
i. t' 10 r:M It vtriei imib ,.,. , H ...,,.,. i .... f .
in U
.i I". S m in?
i - ii.' i anm at mil I mm I a .ear Ihe
... m ..,4 ... ... i , .,,.,.U At !. I think ll
. "4., 1. 1 1 . I i 1. I iie t e
Ih'a
tier. m
N-lief "I. endure h li.s we bav i fl
vr,r. ivn u.aalio rm...t.a..f.o-waBlW-,lPii-1H-of. ,
Kit . v. tin e -eM . ; vr .! i I I- ... II pr jUM I t.wrt t,
I
Monet .( lie alablr.
All ' .1 m mi iikhI I of
tote .f il l'o. (. iif : 1 I
' ! v . r aa i -
. . I ll r lo
Uin n "') a
. in i Ihe
h.-r n. , r' -f t
, an It i 1 ' I
i el 10 I
I- I
1 ii r h e ,
t ane t ,
it o ! In r.e I n't I
, III V I '
i - Ihe Wial til i .
o onirr i
i ir al !!
, oinsa-e tat 'V
the I 'I: J-e of
I
....!
Ml rr
a
l.rar
- Of
f C
II '
ha nr
is nr
t - I
tousle' Tha
I H ilp Ih
V l.ofl !
i. a rr I !
ror.,.
bul to re-1 inn till I unlit T"
P it .v Hie fin, Itai il In Ihe rm.
met -at talo l-.t-v .l l a.'.v et an I
ihe d in :! ot m'tai i l l an I :
r . i. in . ov ittt,i , tt,-ei '0 In a runty !
I flir I tt o !
H m i.e i t. eve lil i.'urf raeriol !
!!- av'n a tiI.e fto rtifviof! In
1 !!. id imi a rl I- a at ti ran.
I le ii'i i ' i t i I ion bv l-'riit '.rl
i fi It M r.. vr r.h I'rl
ere 'in! I-, ta ta IS al
mitii' al ni-.-ia it lie Wot 4
Ul M t I ra t 'i '-eea Wita e ll
I a v.r l S rt-t l( t.f h. f
( aaxyarlaaa it Ih Oatyait af the Fee
tory Watkere aad the Miner
n traniixo l.o a il )
The 4 r. I of t-i mint ei male Ih
nl i.f a. I a ll an! i itr en tn n I
I any let- ;!' heme ta lm;o
: lorn' t ran. a! mallet. If l't a
I Will l;-"t IHrtnal la h 1-et'ef than
i . ...... ..
raB b " omp .me 1 i. trm r,i i i ra
Ina" t I I a . t f'" I i i
OM'
It.
r
I tot to) at r rs.;v
Mi .., pf Ih am . it t I of t
m a in n iii ' . .r a I ., I : f rt. a. at -r
!. it! nii.ro aii
ovrf ' 4if " fit nl ii tv-
The Woman' bureau I tinder the di
rection of Mr. 3. Ellen Foster, the well
known orator and political writer of De
Moines, la., for severs! venrs president
of the Womsu'e Natiuuul Republican s-
ociatlnii. I be bun-ail Is established In
iiiiiinodiiiiia quarters Iu Ihe Auditorium
Aunex, t.'hicugo, quite sway from th
noise and activities of the national com
mittee, where Mre. Foster I provided
with erety convenience, mid assisted by
capable aid.
The Woman' HVpubllcan association
It comauoed of thinking, active women-
women Intensely ally to tne beat inrer-
et of their ciiuiitrf and homes. Tb
Woman t oclatiou I not a atinrag
ataociatioo. Many of It member do
Dot believe In uffrage at all. It la not
moral reform association, although
many of It member are engaged In th
pliilanthrubira ami re form a which illu
mine tlii decade of our national history.
They do not aeck to iitiluc Hie lCotMib-
lirio aociatlon to adfuuee any or thcee
reform. It member are implv. and
all tbe time, Kcpiiblusiia, laboring for
the (upport of the principle of that
party aud for tbe ekttlou ot it candidate.
Mr. Foater' Immediate ociatc
nd lataut In the work are women
of capabllitir In tarlou line. Mr.
Thorn . Cbace. Ihe general a-ere-tary,
rraldv tn F.aal Uri-enauh, It. I .
aad from there ier-ia.-a watchful
care fur the work in Hie New England
tale. Mr. Cher b an rinlve ac
qnainttnee and le .ritltird with manr
great charltlea. fiiillahthropie aud eoci
ettea. aalde from her political diitiet.
The national trreaurer. Mia Helen Var
wick Hoewl of New York city. b
pT la ion over the hrad'iuerter of her
rate, located at 1473 Ilri.adway. Mim
ltoawtil b Inaugurated the plan of pef
enoal llt atnohg the women Iu Ihe
tenement district of New York, fof lb
nurpoae of bowing tbe women tbe mean
Inf of Ihe free coluaie of ilr aud bow
h Will affect the punhing power of
their dollar Khe Cadi throe wnqiro
wilb well denned tew on the curr-nt y
question and rredy lo defend them, a
thry do In lniatli.f that Ihe yotera In
Ihnr familie hall maintain ibeta at
the i ii Mia towll baa ulited
large cum t-er of youiig bnam worn
to blp prrad the d-Ntrihre nf Bound
money ttd protertmn ad lo htp orvur
vote for Ibe llepiibllrB rendu!!.
i
ml
I
e, i a o
aiwe
i an I' imo t it I i moto y i.
Init i.r.i. 4io Tha prcro u
I tru If h o lm tit tutite itf V
IT tt'o of a i .l of huiutt lil-if j .f f-e ' v a' 1 la I a alel
leatg fll l I1 law of oti- t an I il. ieit. J o t m Ih ..r.-nal
fi.at.-i en ar-'r me it I It e-ei. 1 !-ie tnat en "t th ne'er
. . . a ... ... ... . . oa It 1 I - fc... L
i.,hi ...iit, h mm lie timer, t.w i-ir itqit l oil i -it . t" e t i . i
l . - . ....i.i ... ... .hi I.. I ... .1 I.. . . . I . ,,,nlt. an 1 hi I t I la i r. tilal In ! i ill" tint M I I Ih - tt i I t
a .ft.il rurrerxy for d.tca whii k ! I l.i d mate I "I'm was warnrl
' ti it . l'i t" Mr t tvaiii in eir J thai wuh a tl ' f I It t I ! I w mil
i.nnrt, l-ul I i tiwneta ! ertprfty ran. , l- nrv'ol nl ivef rtj 4 ho l
rot o f..t-. l.i part w.tk innf iiurtf ma n'a'ne I In e tenia! t. it ftia'cr if
e rf n ttt r. .ta fr.f e
I'll .1 n.
it. I , .n " Ht ! a' :. !'.
Ih ! 14 lf. an I I I re tl in
eta ilttritrinrl to rtvh rfi a ef uf-
ta ll fit Ha value
ai .a i u n I h t.a'l by ! lt
Ther le I'll en way of ttal i ttt i ,
nl Ih! la br lait IHtr ht t '
east Ik ! ot he Aim hly wheel h
I . r. m m N, uui in. Bar. ten et e n ,. - . - - . -- - - - - - . - - . ,
b4 b faiivr. Ittery tag ai live r.i m-vi tn terrawtraril .iit et ( le fdf4 I toiM!,ija U. .
ti g a ',; I iirn y. ant ml IT.rn
a le w he'htt a lrf n I la ettt-a'.iM
nr no! I' ! tr"' ef Ihe romm I.
. nl la I've l- h af -nni-ra It
aa ft f alnvl!it that cmnity -
li.it if II I I rt Ih I r, i.l )-! w...
t H ' an I a on, h at.ii 1 If a ; i l. i
5 t; tn I. -.. hat if t.f a, si h j
(a. (w r a i -mi af eih tn iwt lit -tltr
Wnotl I I" ciMti-ne. la lhal of
In a het rail ma We w ! I la wa w a j
tf irtan in.t tt.t aetti re eentr...t
a a4'i" a ni 'af aa.aruf le I af
') wh h en i aVw frn ! ttti.
tt At all eBl. Ihe fr-' ea '
t Lf ii'.l ef lt-,,,, f
r-a- ten.nl ta'.'oi a , h ihti e i
0., it?.,on In t1. In-Mt fra'kel I -. I
iail ! we ...... s ,i t i - r . t .t I ir 4 a. I 1 ' "
I- ii.l o . t t i.-,. m i n a ' I i I
( l ho a , .i o i ti' . o at- I I- .. . ';-
. . Ei m 1 1 , t 'ft ' r- I ' . . ' 1 itt J ...
"" I . . ... 1 1... .... t. I
I a I l-i rtt i-i In H'it n f
ii ti r .f i' t '
' t ii NC'ttti it. r. '. J Af I i l ?
a t i .-a it, . t ot I -I . . I
' i ri .ti.i 'l I H- t.f !. t n il j
la-! W'.-jl i i a I f al '..! a '
' .UtU la t-. '" ' a ,
I Im ft ! an,tt tar 1 tale a If (
' en fatit runitni n .tl hav -
j fifhl to ..f ,if .) e. I I n iy It
"if g itilthl I" t t" ar.h'
i
I It, . il .. f
ii.ii T . " a to. ai . i
at- .n tia
-itl It t. r-
! Ire Chic" braditiflef Mr I
frf ihirf a.:.i.iif ri l e. ertaf y la Mr.
Alice Itokartrf Wiliard. b bae wi.le
ettrrrirllie IB get-rf! but, lira nd pew-
r,f work la loi rouatry d i En"
land ..ett to her tome M An
ttr-he i f liil.otoe, la. Vie isrokf
I la Bel ot,Iy ! iat.t of hf eltnalina
. . i l .. . ' I. I ! .r . .ii mm
. i nj n r y titriti tii"- -
f. I Ptttl r.'e, r.f IV !: I1
Jllaa.n , t . HHll at ttll.
He Mill te e Mrtalaley fwatt.e
He I rwtvtat.
Jte fie.h aa 4 l e wwy t
f t - !'.'" -tft r.f H. f let't'rt
. '. .i nr a -t .! ira than
.1 ... .t.g e .It I '.-),.! I -f til "!
j t.t, y.i il a it- a i. is r. .t - at . . h
j j j j t IJ ,1 .'tl IH 14 i. I ltd f.i-
m I 1. m t.l.toi, !Ht t In t ni at tt
I , f IV. nt r t if htt a -I $ iti Ul cofi.
i r - . ' In a" I r. .! hat i i.. i n. y-a
I i a'-t-l f hat f.t.ni rr I i -itn.
tj.t.1 at 1 tt fa. lf rtt'ati p.. .1
t- r i t
t . -' h erei t-i ar!
) .k Ih t .e -tnl IVll Ih ( . a f
Ih t..lo " -I ftrof.i!f i.e ri t
Bt! in l waa laa t "' ".
ei tl t (vtl ef ftw i--a!t ei.
. ta Waa Ii t.ai' t:fy Iml
it i ih t.-t that PrtM f t m .1 if-
t-aa'l tr t at tf r ttai-onal '.
a I .kK ft f N l an I. ft in..l
nt'i of if ! lhal 4 W that II
I tmm ft - athtll v f.t-5- t It, at mm4
thfi. trh bef ban la fr. eltna l.ef rnlrtl
rttti".oa to i'a t offi-. Itiea. It in
rata. t. M lifo;.'iy ia thief a tern g.
r-bf.
A'tlioai 1' feat O.ie d rf It Mr.
,.ttl fief t-itii'.g In r t . a.l !;.nera,
waa tn ! ad ? al l Hi itrioii
a .,ii.a f Ihe cui'ff. u-f i.g lhov
t..'. t rr.fi ttea t,r ti.i fy iiIf
.,1 la iaaoea ef the ra-pe.ftt. and l
fc'p f.rt.ximt tbe - t.f tti.mtl If
4 f.ri" ta 1 be ! -taea ltae
Bil f "l.'i ( rtlt..i.g ttif kf
fa itf i l Vw J.re. Tae
Warn In d,f--d l tf mnt ml re.
ga imf ead l'iet bow t tt.aa Ih.if
,f, tfl e9et-ti T aptt f Ike
are yaal n aad !!'
lure 1 hae a ee e, lo mat-a, It
woraea lbt tse r a f-rxwal welfare
In. lo-t t the (! nt rb d el
tha aoaae are a the a.d ef ihe rl !
. t.r'y. 1 !.'! etrwd
I f 4..akt r t tw ta ev
fax ef ags 4 1 a'tje4 mi i W f . it U ! l.eo4 lie wUl be . (