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About The Athena press. (Athena, Umatilla County, Or.) 18??-1942 | View Entire Issue (June 30, 1893)
ATHENA PRESS Published Every Friday Morning By J. V. SMITH. Entered at Athosia postoffice a second-cluwt mall matter. Subscription Tatcs: ft year, In advance, - - $1.30 Hlngle copies. In wrapper, Sc. Advertising Htea: ' Local reading notices, first insertion, 10c par Inc. Each (subsequent Insertion, 5c. , All conimunlcatioiifi should be addrewtd to th PREHW, Attieim, Oregon. Athena, Oroh, June 3oth, 180$. .A PARITY. OF C OLD $f SIL . " . VEK. A correspondent writes that be hears a great deal about the parity of gold and silver, and he wants to know what it means. It meftni making a gold dollar and a silver dollar equal in value. Ac cording to the United States mint standard, one ounce of fine, gold is worth $20 G7.18, or, to drop the decimal, $20.G7; while on ounce of fine silver is placed at $1 29.29, or, simply, $1.29. A fold dollar contains 23.22 grains of the yel low metal; a silver dollar has 371.- 25 grains of silvor. The alloy that is mixed with the precious metal has no value. It will be seen from the above that, according; to the standards, gold is abont sixteen times as valuable as Bilver. . But since the Sherman silver law, which requires the Government to purchase every month 4,000,000 ounces of silver, not to be coined, but to be stored up in vaults, has been in operation, silver, instead of increasing in value, has declined, so that an ounce of fine silver, in stead of being worth $1.29, has sold in the markets of the world as low as 83 cents an ounce, and never sinco July, 1891, has the price been as much as $1 per ounce. Now. when an ounce of silver is worth $1, a silver dollar coin is only worth 77 cents; but when an ounce of silver gets down to 83 cents, then a silver dollar is worth only G4 cents. Thus it, will be , seen that a silver dollar is no Ion ger worth as much as the mint standard, and, thorefore, a silver dollar in not equal in value to a void dollar, That is to say, the parity or equality of the two met als is not preserved. Instead ot cold being only" sixteen times ns valuable as silver, weight for weight, it is twenty-four times as valuable, and, therefore, in order to preserve the parity oftho two metals, the quantity of silvei in a dollar coin would have to be in creased from 371 grains to 457 grains. . : It may be contended that all that is necessary to give money a Yaluo is for the Government to fix , its stamp on a coin, and that set tles it, so that when the Govern ment makes a coin and proclaims it to be a dollar it is a dollar, no matter what may be its weight or the metal of which it is made. Such a statement, may do well enough for the people who are forced to obey such laws, but such arbitary regulations have no ef- .fect in foreign countries. It is a8v enough to pass a GO-cent or an 80-cent dollar on our own peo pie, but in foreign countries it 1b impossible. If the United State's had no business with any' foreign country we would not care what foreigners think of our money, but when we are buying and borrowing to the extent of hundreds of mil lions abroad every year it becomes absolutely necessary to pay at tention to how foreigners value our coins. They will not accept our silver, 'and hence we must pay in gold. The result is that our country is being stripped of the yellow metal, and the National Treasury no longer possesses the gold reserve required by law. Gold is becoming scarcer every day, while silver is getting to be drug. The parity of the "two metals is practically destroyed now, and if this state of things continue some time longer gold will be held at a premium, as it was during" the . civil war and up to 1877, before epecie payment . was resumed,- ' New Orleans Picayune. AN IDEAL CURRENCY. An weal currei 1 cy win sausiy . circulate every where and at al luiiies at par. It will be accepted with out question in the settlement of trade balances in all parts of the world; and it will neither apprec iate nor depreciate over long per iods of time. If it be bimetallic, itmust .be interconvertable. Had the world such a medium of ex change as this, inestimable bene fits would be secured in" the ra- movable of many of the restric tions which now act like friction brakes upon the wheels of indus try and commerce. Is such a med ium possible? . In the opinion of some eminent financiers, it is not. No two countries, they point out, have the same wealth or resources, or make the saroeexpenditures; and the establishment of a uni versal arrangement, provided it could be enforced in the absence of an international executive, would interefere with the normal development of trade. On the other hand, there are many, who, while recognizing the difficulties in the way, think not only' that the attainment of a stablo medium is , possible, but that the time is ripe for it; and they prove their faith by feeling out after it. It was for this purpose that the Uni ted States invited the various na tions to send representatives to the International Silver Conference which met in Brussels last Novem ber. ' - No more difficult problem ever engaged human minds than that for the solution of which this con ference assembled. The gathering was thoroughly cosmopolitan in character; but. although it inclu ded many of the world's ablest financiers, it was obliged to adjourn w.ith the confession of its inability to the achieve any tangible results in the way of remedying the ac knowledged evils of fluctuation and depreciation of the white met al. Many schemes were submitted, but none were adopted. No views on the-general question wero ex pressed, save by individual dele gates; no experiment was advised, no plan of relief propounded; nor was any compromise accepted or even proposed. Great Britain, pressed 4y -- the exegeneics ,of her subjects in India, offered plans intended to enhance the price of silver; and some of the continen tal delegates did the same; but none, not even the Americans suggested a complete system by which gold and silver could bo usod as money ,qh equal terms. Although no definite ac tion was taken, unmistaken evi dence was found that the anxiety to escape from the evils of mone tary disturbance- is moulding the policy of European Governments, and particularly Great Britian. Her trade interests with' the EaBt are deeply atlected. India has just closed her mints to free coin age, Now should the United States repeal the Sherman law and adopt no substitute, all Europe will be compelled to take some ac tion toward establishing some fixed ratio between gold and sil ver. Tub Pendleton Tribune gets after the Supreme Court in this manner: "There evidently must be an ef fort on foot to do away with the Eastern Oregon term, the way matters are being conducted, and if the custom now in vogue is al lowed to prevail the mcasuro will have the hearty support of client and bar. There were something like twenty cases on the docket at the May term, some of them in volving capital offenses, and others large property interests, and the whole batch were argued and sub mitted in less than three days time, as many as lour oases per day being disposed of, and the conglomerate mass taken to Salem and in less than six weeks' time for deliberation and investigation the court writes opinions, and in less than one hour's time unloads the whole, mess at Pendleton ' and start for the land of "red apples and rain" by return trian. This system of dish ine out and dispensing law is detro mental to the interests of the peO' Die of Eastern Oregon and some method ought to be devised to cor rect the evil. Additional amount of $750 annually for expenses for each judgo was appropriated by the legislature for the holding o: one term of supreme court in Pen dleton, and the people expected sense of the word will be held here and sufficient time token to gh'e important case the investigation that justice requires should .be given them. If matters are to go on as the last two terms of court here have been conducted the sooner the law is repealed giving this section of the state a term . of court' at le3t annually, the better for all concerned." Hull, of the Milton Eagle seems to be on the eve of "flopping" on the other side of the political fence again. He got off a string of his would-be witticisms in bis paper last week over the appoint ment of "Uncle Dick" Powers as post-master of the Weston office. He calls Mr. Powers a dry -goods box whittler, corner loafer, tobacco chewer, and a lot of other "phunny" words from Hull's vocabulary, with his usual Nye-like grace. We can't see why he should abuse Mr. Powers in this nlanner, for we, with hundreds of others, know him to be an honest, upright, hard working democrat, and one in . whom the people of Weston have " confidence and re spect. Hull, you had better go slow, there may be a job 'outfit in the next one. Eleven head of horses has been sold at the city pound this week These horses sell at prices ranging from 25cts to seven or eight dol lars a head. The way this busi- mss is done, the city is liable to have some trouble over the mat ter, while it realizes nothing the sale of the stock. The Council should see that the laws do not conflict with the of the state. from Citv city laws Several of the papers of East em Oregon are agitating the fea sibility of meeting at some point and holding a convention to talk over the matter of dividing the state. The Press is with them. The Gun Club. ' The Athena Gun club met ,, yes terday and the following is the score. C. W. Dunn, 13: L. A. GithensJ 16: A. D. Gilleland, 18; L. Shaw, 11. There will be a sweep-stake match next 1 Thursday afternoon and all members are requested to be present. , . ADAMS NOTES. Adams, June 26. United States Marshal Wratus " boarded No 6 Sunday evening for the low er country. Mrs Henry Picard and children left . Sunday evening for a tew weeks visit with her mother in Woodburn. The Junior and Senior nine in dulged in a very interesting game of Base Ball last Sunday after noon. The Seniors coining out ahead. James Cummings, a miner of tho Green Horn country is visit ing friends here this week. Mr. Cummings reports 4 feet of snow yet in that part of the country which is very encouraging to the placer mines. Our part of the country wbb visited Saturday by the heaviest wind and dust storm known to the oldest inhabitant, which passed through, or over, about 6 o clock in the evening, making quite a stir of real estate, old fences, sheds, etc doing no damage however ex cent stirring np Hamilton and Rourk's ware house considerably and tearing off the top of a freight car in m a passing freight train. T. C. Reed began work on his well from which he proposes to furnish a water supply for his own use and that of others who occupy adjacent buildings, as well ' as traction engines during harvest. Mr, Reed will use steam for pump ing the water into a large tank erected at the rear of the Com mercial Hotel, from which the water wul be conducted by pipes to consumers. B . The band has not fully made up its mind to go to Meachara on the fourth. The inducement onered being hardly enough for expenses. However unless they are offered a better thine in the way of Base Ball, they . will probably Dlay musio as being the surer winner of the two, 1 heir experience at Helix' having removed some of their conceit in that line of amuse ment. The City Council at last Satur day night's meeting awarded the contract for u new bridge across Wild Horse on Preston street, also a new sidewalk oa same from Main street to depot. This is as it should be, as it is now, one has to cross lots, go over or under wire fences, through the dust to reach town. The city fathers should be commented for the good worsry r- Georgo-Staggs, the Wes' - fUnler was in the THE ATHBNA IS NBWSPAPBR ! 150 - Subscribe -1.50 . -. it-.-. PRBSS A ft kt our fH toeke i Y,? An dtoty V H-itX rul. Jfl-vyi-: ,r?35S. Bad Roads r . .... ,i: - ... I Makes trade slow, but we offer such RAItl? INDUCEMENTS to Customers who venture forth, that they come 'to town in spite ot i k Foot Pace. Whenever they are in town they find just w hat they1 want and are able to make ' Deals That Do not neglect the' OUNCE, OFFER. ATHENA, La SI d 3 XZZSStMmmw , Our new stock of IDzTOSS G-OO'fLS ha arrived from New York, and we will be pleased to show them Among the dress goods will be the latest patterns in Pointelles, Grendines, Sateens, Chambrays Cashmeres, Sublime, Summer Suitings, etc etc . LATEST NOVELTIES iN Chiffon and Oriental laces, embroideries, Hamburg . : edgings, fancy Ties, Gloves mitts, Handkerchiefs, etc " Entirely new and complete line of Ribbons, unique in design and very pretty, Underwear and Hosiery in .. ' .; all grades, and remember that we y . HAVE , JUST RECEIVED THE LARGEST iKVOICE of Ladies, Gents, Misses Boy's and Children's Shoes ever brought to the city. They comprise the latest styles and for neatness arrd elegance cannot be bea; and will be sold at hard times . ! LH..tf.'W..3 We -would respectfully ask your inspection of these goods, knowing you will b pleased, and it will be a pleasure for us to show thern to you. BERGEVIN BROS., Athena but take ADVANTAGE of our H OREGON. ray TRIMMIHCS TO w nces Oregon 7 ' - I h rr ... r ' f it kabt two tions it will that a term of court in -the ,f y