J -
THE MAIL
IS TSS OFFICIAL PAPER OF
-THE FARMERS' ALLIANCE
AND PEOPLE'S PARTY OF
SOUTHERN OREGON.
ADVERTISERS
Do you atody yonr best Inter
est and ptlronlze this pspcr. It
irtll be apprcwltd by nil the best
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d Paper Of, By and For iJie People
VOL. IV.
MEDFORD: OREGON, FRIDAY, MAY 20, 1892.
NO. 20.
SOIlIpM
0SEG0I
PIIi
STATE PLATFORM
Adopted by the People's Party, at
Oregon City, On Karen 16, 1892.
. PLATFORM
Preamble: "An isiuut to one is thi Cos
KCERSOr ALL."
1. We demand a national currency. Issued by
"the general government only, a full legal tender
for all debts, public and private, and that with
out the use of banking corporations, be distrib
uted direct to the people at not to exceed two
- per cent tax, as set forth in the sub-treasury of
he Farnera -Alliance and Industrial Union,
and at tbe St. Louis conference, and land loans,
or SOJlK better SYSTEM; also by payments in
discharge of the government's obligations for
peblic "improvements.
We demand the free and unlimited coinage of
-silver, and we denounce the practice of the
government buying and storing bullion.
That the medium of exchange or currency
fee based upon the wealth and law making
power of the country, and that we demand that ,
' the amount otthe circulating medium be speed
ily increased to not less than $50 per capita.
We demand that postal savings-banks be es
'tablished by the government for the safe de
posit of the earnings of the people and to facili
tate exchanges.
2. The land, including all the natural sources
of wealth, is the heritage of all the people, and
should not be monopolized for speculation pur
poses, and alien ownership 'of land should be
prohibited. All lands now held by railroads
nd other corporations. In excess of their actual
needs, and all lands now owned by aliens should
-be reclaimed by the government and held for
-aotnal settlers only, and. that any settlers who
"may have acquired lands of such corporations
toe protected in their rights to their homes and
In the sums paid to such corporations.
&. Transportation being a means ot exchange
and a public necessity, the government should
own and operate the railroads in the interests
of the people; and until such ownership can be
' acquired, we demand the abolition of the ruil
road commission and the establishment of a
TOTimni rate law within the state, and that
Ihe present rates be reduced one-third.
The telegraph and telephone, like the post
office system, being a necessity for the trans
mission of news, should be owned by the gov
ernment in the interest of the people.
We demand that all moneys asked and appro
priated for the improvement of the Columbia
river be spent in building and operating a rail
road parallel with the river, said road to be
owned by the government and run at cost.
We demand that all national revenue shall be
raised by a 3 per cent tax on money loaned by
the government, and a graduated property tax.
No exemption for indebtedness should be al
lowed, unless the person claiming such exemp
tion, should give in a corresponding taxable
credit.
5. Wkbreas, The working people are en
tirely under subjection to the plutocracy, which
compels one portion of them to work too many
hours, and thereby increasing the army at the
unentpleved; therefore be it
Resolved, That we demand that our legisla
ture pass a law defining eight hours as a legal
day's work in factories, mines, shops and pub
lic works. And also that we recognize the
Knights of Labor in their controversy with the
Rochester Clothing Company.
That we are unalterably opposed to the Pink
ericas, or like organizations, ever entering our
state.
That alcohol, is any form, shall be sold only
' by state agents, said goods to be pure and sold
. at cost, without profit to the agents, and shall
sot be drunk within the building nor within
sixty feet of the place where delivered nor in
any place of resort of gamine, thus abolishing
'license, the saloon in .society and the saloon in
politics. That the national government shall
not license the sale of any alcoholic sub
stance in any states legally prohibiting the
sales thereof, nor shall it in any way interdict
or interfere with such prohibitory laws.
1. Resolved, That we affirm our unqualified
adherence to the doctrine of equal rights to all
special privileges to none, and that wt will
sever cease our eflorts till every citizen shall
stand before the law equal in intellectual,
moral and civil prirfleges.
8. We demand the passage of a law which
will prevent the immigration of Chinese to the
United States.
9 We demand that the state publish the
school books and sell the same to the people at
cost. -
Ml That county officials be paid & stipulated
salary.
IL We object to the government having any
thing to do with the Nicaraugua canal, unless
it wwas and operates he same at cost.
13. Resolved. That we are in favor ot elect
ing all officers by a direct vote of the people.
13. We demand that the government issue
legal tender notes and pay the union soldiers
between the price of the depreciated money in
which he was paid in gold.
PjfMOjMIS.
K
B. PICKET,,
Physician axd Surgeon
Medford, Oregon.
Office : Rooms 243. LO.O.F. Bldg
J,
B. WAIT,
Physician and Surgeon.
Medford, Oregon.
Office: In Childers' Block.
E
P. GEARY,
Physician and Surgeon.
Medford, Oregon.
Office: Cor. C and 7th sts.
I
S. JONES,
Physician, and Surgeon.
, Medford, Oregon.
Office: Hamlin block, up stairs.
D
R. O. F. DEMOREST,
Resident Dentist. .
Makee a specialty of first-class
work at reasonable rates.
Office in opera house, Medford.Or
BOBT. A. MILLER
Att'y and Counssli.or-at-i.aw.
" Jacksonville, Oregon.
- Will practice in all courts of the
' " State.
J
H. WHITMAN,
V Abstractor and Attorney
.. At-Law.
"Medford, Oregon.
Office in bank building. Have the
most complete and reliable ab
stracts of title in Jackson co unty
TTTILLARD CRAWFORD,
Attorney and Counsellor.-
-At-Law. '
Medford, Oregon. ,
Officer In Opera block.
I USTIN S. HAMMOND,
Attorney-At-Law.
Medford, Oregon.
Pffice: J.O.O.F, Building.
GOY. PENNOYER
Declares Himtelf in Favor of
. tbe People's Party.
HIS SPEECH AT ALBINA.
"Equal Bights to All and Special
Privileges to None" is Good
Enough Him.
On Tuesday evening the 10th inst.,
at Albino, Ore., Governor Pennoyor
delivered the following speech on the
money question, which is .well worth
a careful perusal:
I purpose not as a partisan but as au
Oregonian, to speak to you solely upon
the most important question now
before the people of this state. Two
years ago, at the time of our lust state
election,- both of the great political
parties favored tne tree coinage ot sil
ver. Today tney ooin oppose it, me
one by its indorsement of the present
Sherman law, and tne otcer Dy its re
fusal to readout the free coinage plank
of the last platform, as well as by its
pronounced preierenca lor a presmeu
tial candidate who, with the exception
perhaps of. John Sherman, has been
the most persistent toe ot tree coinage
in the United States. This sudden and
complete somersauit of the two great
parties, outrivaling the acrobatic feats
of well-trained circus performers, is
something never before witnessed in
our whole country's history. Both
parties heretofore have prided them
selves upon a devotion to 'time
honored principles," and have shown
somewhat of a consistency from year to
year in their political records. Then,
why this thorough and unexpected
change? The correct answer to this
question should bring the blush of
shame to every .patriot's cheek and
sound a note of warning to every Ore
gon yeoman. This change has alone
been caused through the influence of
the money power. Both parties have
bowed the knee to Wall street. Fear
ing to defy its behest, they have sur
rendered up the interests of the peo
ple as the price of plutocratic pecuni
ary favor. Neither party organization
has evincea mat siern neroism wnicn
both have shown in former years upon
other great questions. With a most
indecent disregard to. tne interests 01
the people, botU have goaej)ver to the
enemy's camp upon the finance issue,
and with the banner under which they
fought two years ago trailing in the
dust, have made a most humiliating
and dishonorable surrender. In the
discussion of this question I shall en
deavor to be both plain and brief. If
it can be shown from past and current
history, all other things baing equal,
that nations prospir best where there
is a sufficiency of money; that pricas
fall and industries become depressed
where the volume of money is insuffi
cient to the demands of trade and com
merce; and furthermore, if it can be
shown that a silver dollar, both ia
this country and in all the world, pro
vided it is placed by law upon a parity
with gold in regard to the freedom of
its coinage and its unrestricted legal
tender qualities, then there is not a
laboring man, nor a business man, nor
an-owner of property, within the
boundary lines of Oregon' who will not
see it to be for his pecuniary interest
to cast his vote at the coming elction
in bshalf of the old and well
established policy of free bimetallic
coinage observed by this government
for more than eighty years irom its
foundation, and surreptitiously
chanced in 1ST3 at the demands of the
capitalists and at the expense of all the
laboring and industrial interests 01
the nation. There is no issua now
before the people equal in importunes
to this demand for tha restoration of
silver to the old place assigned it un
der the constitution. Unjust tariff
laws may impose undue burdens upon
us, but the placing of the finances of
this nation upon a gold instead of a
bimetallic basis will reduce the price
of property and the wages of labor and I
. r .1 . , i .1 . - Z .-..l .
uepress tne nuuunui uiuuairies jusu ao
oiiraltr fta wntpr will riip.k its lavel.
EFFECT OF INSUFFICIENT CUItKEXCY. I
An eminent historian declared that
"the fall of the Roman Empire, so
long ascribed to ignorance, to slavery,
to heathenism and to moral corruption,
was in reality brought about by a de
cline in the silver and gold mines in
Spain and Greece." At the Christian
era the coinid money of the Roman
Empire was estimated at $1 ,800,000,000.
At the close of the fifteenth century
such money in all Christendom was
estimated at less than $2,000,000. The
legitimate result of this constantly
diminishing .volume of money was
legibly written on the pages of history
in that wonderful relapse of civilazi
tion into semi-barbarism, which has
fittingly been termed the Dark Ages.
During that period civilization retro
graded, commerce fell into decay, the
arts declined, wealth disappeared, and
freedom fled, while people 6ank into a
helpless condition of pitiable serfdom
and the most abject slavery. Tbe con
trast of tbe civilization of Greece and
Rome with the degradation of the suc
ceeding long centuries of the dark
ages consequent upon the shrinkage
of the volume of money, resulting in a
fall of prices and general stagnation
of business, is an object lesson that
inculcates with more than human elo
quence a solemn protest against the
effort of the money kings to contract
fop their own enrichment at the ex
pense of the general prosperity, the
volume' of money by rejecting silver as
a money metal and using gold alone
a3 the basis of the world's currency.
The first, break of light upon . the
gloomy period of the dark ages came
from the institution of the Bank of
Venice with its bills of exchange, but
it was only when the mines of the New
World' poured their treasures into
Europe that civilization awoke from
its long lethargic sleep and with in
termitting , periods commenced anew
its aohivements, which have culmin
ated in the uuparallcled triumphs
which have signalized the nineteenth
century. Ono of thosa intermissions
occurred between 1809 and 1848, and
was consequent upon the trouble
between Spain and the American col
onies, resulting in a largely decreased
output of the precious mctnl and a fall
in prices, which were fully CO percent
lower in 1S4S thau in J809. The yield
of the Russian gold fiolds in'lSlO
served to stay a further decline of
prices, but it was not until the dis
covery of the gold fields of Australia
and California that the downward
tendency of prices was really checked
and an upward tendency obtainable;
and yet, notwithstanding the prolific
output of thosa mines, the prices
between ISjO and 1876 did not increase
over 18 per cent, owing to the in
creasing demands for money as tho
direct consequence of increased pop
ulation, extended commerce and ad
vanced civilization. The decline
about 1S0. of the) products of these
mines, whilo the demands of increased
population and commerce had ad
vanced, naturally resulted in a decline
of prices. The volume of money has
not kept peace with the demand, and
hence wo are now, and have been for
years, upon a retrograde movement:
prices are constantly falling, indus
tries are stagnating, and labor becom
ing more uncertain in its employment
and more unremunerative in its re
wards. Evory farmer and laborer in
Oregon plainly realized the fact of
this fall of prices. In 1S7S, boforo
silver was demonetized, wheat was
$1.31 and corn til cents per bushel,
while Dour was $".50 per barrel. Now
wheat is not -more than SO cents and
corn more than 45 cents per bushel,
while flour is less than $4 per barrel.
The effect of an insufficient volume of
money is equally disastrous to tho in
terests of labor. The Massachusetts
bureau of labor discloses the fact that
in 1887 nearly 30 per cent of wage
earners in that state were idle upon an
average of over one-third of tho year.
Taking those figures as a basis, and it
discloses the astonishing fact that at
this time there is in this country an
army of more than 2,250, O'JO men, eager
and willing to work, but unable to
find employment for the support of
themselves and their families.
SILVER GOOD AS GOLD.
No reasonable man can for one mom
ent doubt the proposition that if silver
had always enjoyed equal governmental
privileges with gold by being allowed
free coinage the same as gold, and by
being made a full legal tender in pay
ment of all debts, public and private,
unburdened, by that vicious provision
which was incorporated in the Bland
law of IS7S, as well as in tbe Sherman
law of 1890, which permits the money
loaner to discriminate against silver
by demanding gold coin in payment of
of his loans, it would today be fully on
a par with gold not only in" this country,
but througout the whole world. The
depressed prici of silver is alone the
result of unjust and unconstitutional
gcrermailal discrimination. Silver
was utterly degraded by its clandes
tine demonetization in li73 and when
it was partially, restored to its proper
position by the Bland act of 1STS there
was attacued to such remonctization
the undue privlcge given to every pri
vate individual to reject it at his
pleasure as a legal tender.
Today under the Sherman act it
is degraded from its proper place as
money to the condition of a commodity,
while the same unjust discrimination is
attached to the certificates issued upon
it of being refused as a legal tender by
every mouey-loaner of the land. Uu
der such unjust discrimination, is it
any wonder that silver is degraded and
has fallen in. value? Even gold, if
treated in ihe'same manner, would fall
to a "like condition. ' In .1855 Holland
adopted rilvcr as the only legal tender,
at a fixed value, but attempted to coin
gold coins not being a U'gal tender and
having no fixed value, this only baing
regulated bv the market pries from day
today. Aft?r 200.CO3 florins (fSO.OOO)
had bxn coined, the demand entirely
ceased. Restore o silver the full func
tion of money, with which it was en
dowed for more than eighty years of
our country's history, and ite'legal val
ue will be its real value without change
or fluctuation.
OIUECT OF SILVEit DEMONETIZATION.
Tho solo object aim-id at by thoso
who procured the demonetization of
silver isquite apparent. After tho war
the national debt approached 3,000,
000.000. Tho greater portion of this
debt was made payable in "lawful mon
ey." The creditor class, not content
with the strengthening act of March,
1809, which contained a pledge to pay
in coin or its equivalent both tho prin
cipal and interest of the public debt,
which pledge added hundreds of mill
ions to the wealth of the bondholder
and to the burdens of the taxpayers,
and not content with the provisions of
the funding act of 1870 for the pay
ment of the public debt in "coin of tho
present standard valuo," procured in
1873 b' chicanery tho demonetization
of silver, thuB limiting tho supply from
which the bonds were to be paid, and
thereby again almost doubling their
value. England has also been a power
in procuring the demonetization of sil
ver. Being a creditor country, it was
to her selfish interest to have the value
of money enhnnctd by the decrease of
its volume. The royal commission ap
pointed in 18S6 upon monetary affairs
said: "It must remembered that this
country is largely a creditor country of
debts payable in gold, and any change
which entails a Hue in tho prico of
commodities generally, that is fo say, a
diminution of tho purchasing power of
gold, would be to our disadvantage."
The solfish motives of English capital
ists and holders of United States bonds
are plainly to be seen, but the motives
that impelled tho congress of tho
United States to impose unlawful bur
dens upon the labor and industries of
the land for tho exclusive and unjust
benefit of the rich can not well ba di
vined. A government that would, by
positive enactment, provide for the de
struction of its industries, - tho depre
ciation of the values of property owned
by its citizens, and the denial of remu
nerative labor vo its honest toilers, con
verting" them into homeless tramps,
would well deserve the reprobation of
all honost men and the just vongcance
of Almighty God, But is a govern
ment any less criminal by compassing
the same ends by indirect instead of
direct meansV Tho demonetization of
silver, whilo enhancing tho purchasing
power of gold, at the same time re
duces the values of property, destroys
industries and robs labor both of steady
employment and fair rewards. Can a
nation prosper so unmindful of justice
and right?
A 11ROAD KETTKR THAN A NARROW
IIASIS.
It is eati mated that the money circu
lation of tho world at tho present time
consists of &l,30O,O00,000 gold, $3,800,
000,000 silver and 3,000,000.000 paper.
If gold and silver both are en
dowed by law with tho full attri
butes or money, then we have a oroad
metal money base of ?7.(i00,(KK)(O.'H), af
fording tho most ample foundation for
the paper circulation of nearly $4,000,
000,000. If, however, Bilver is to be
bereft of the functions of lawful, legal
tender money, as the monometalists
desire, then tho basis of the world's
circulating medium of $I1,500.00.),000
will ba the $4,800,000,000 of gold. To
any man of ordinary common sense It
would appear to be tho part of wisdom,
so long as business is done on a specie
basis, to have that basis as broad and
strong as possible. To narrow that
basis to gold alone, the supply of which
is so vory limited compared with the
demand, is to place the money of the
world entirely subject to the fluctua
tions consequent upon, any govern
mental or tinancial disturbance of ei
ther of the great nations of the earth.
The crisis of two years ago. brought
about by the impending failure of the
Baring Bros., exhibited tho great dan
ger and the positive injury to tha fin
ances of the whole world of confining
its business to a gold basis. The only
thing that averted a widespread panic
and' general busine-is disaster was the
timely loan bv the Bank of France to
the Bank oi Ensland of tho required
.millions of gold, tho former country
alone being able of all the great gov
ernments of Euroi) to do so, it having
a sound and strong bimetallic basis for
its currency, instead of resting such
currency upon tho single gold basis It
is as great a piece of folly for the na
tions of the earth to attempt to do
money on a gold basis when the supply
of gold is so entirely inadequate to the
pui jKse, as it would be for a farmer to
attempt to pluj? the throe-inch bung
hole of his cider barrel with a half
inch bung. The two drunken loots
who of a cold winter night discarded
ono blanket because it was gray, and
struggled and shivered under a while
blanket too small tocovcr both of them,
were not more foolish than are those
people who demaud a gold coin basis,
fulirely inad.-quatj. in preference to
the strong and Wrood bimetal lie basis
of our fathers..
HARD MONEY VS. BANK EAC-ilOXEY.
The opponents of tho free coinage or
silver very ostentatiously declare them
selves to be the sole advocates of
"sound money.1 Their pret-nsions
are absolutely fraudulent, as tbcv are
really the only advocates of "wildcat''
money by attempting to restrict the
basis of the circulating medium to one
metal alone whieh is confessedly inade
quate for the purpose. As wo have
seen, tho world's supply of gold is only
a little moro than four and a quarter
oil lions of dollars, whilo the national
indebtedness of the world exceeds
twentv-eight billions. Tbe indebted
ness of the United States inclusive of
national, state, county, municipal and
individual indebtedness, is estimated
at 27,.t78.fXi0.lKX Is not the folly of
making the debts within the United
States payable in gold coin, when the
gold of I ho whole world is less than
one-sixth the amount of such indebted
ness, so very apparent that "he who
runneth may read?'' The friends of
free silver demand that gold and rilvcr
shall be what the framers of tho con
stitution intended a full legal tender
in payment of all debts, and that the
paper money to be issued directly by
the government shall possess the same
full attributes. Such money, whether
gold or silver or paiw, will be "sound
money,"' and will always bo of equal
value. There is no cause iu the world's
history whore the paper money, when
clothed with full legal lender qualities
of a solvent" government with unim
paired taxing power, ever fell b.low
par. The fricuds of free silver aro the
only friends of "scund money.'' What
do the opponents of free silver propose
as a substitute? The most pronounced
opponent of free bilver in tho lower
house of congress is Representative
Hartcr, of Ohio. He has introduced a
bill, which is now before the banking
and currency committee, which pro
vides that the United States shall no
longer gimranteo the payment of cir
culating notes of any national banking
association; that "there shall bo no
limit to the amount of circulating notes
which any national banking association
may issue, except that such notes shall
at no time exceed 00 per centum of the
par value of tho bonds deposited to se
cure tho same by such association;"
that 4 'the comptroller of the currency
is hereby authorized and required to
accept registered bonds issued by any
railroad corporation or city in the Uni
ted States and deposit the same with
the treasurer of the United States iu
behalf of any such association as secu
rity for its circulating notes. subject
to certain restrictions, and "that when
an association has been placed in tho
hands of a receiver, its circulating
notes shall cease to be received as pay
ment of any obligations duo and pay
able to tho United States." .
The people of Oregon can now read
ily seo who are the friends of "sound
money." Tho friends of frco silver
demand that all moneys shall bo issued
by the government direct, and shall be
a full legal tender, while the mono
metallists want gold to bo tho only le
gal tender, while tho cammon people
aro to be furnished by the banks with
an inflated, irredeemable currency,
bused upon railroad and municipal
bonds, and not a logal tender.
.The most invoterato foes of freo
coinage are tho national hankers. With
the free colnugo of both gold and sil
ver, tho issuance of the required paper
currency by the government direct,
and the establishment of governmental
8ubtroasuries, they would bn doprived
of tho rich plunder they have been
plucking from the people. Tho loss
the volume of hard money obtainable,
the greater tho required voluma of
paper, and henca tho bankers oppose
free oojnago in order to retain tnoir
bold upon the finances of the nation.
The old struggle of the people against
tho money powor, or.co boforo success
fully fought undor tho leadership of
Andrew Jackson, is again ronowod. In
his first msssago to congress, in which
he opposod tho renewal of tho charter
of the Bank of tho United States,
President Jackson said:
"Under those circumstances, if suoh
an institution is essential to the fiscal
operations of tho government, I sub
mit to tho wisdom of tbe legislature,
whether a national one, founded Uon
tho credit of the government and its
revenues, might not bo devised, which
would avoid all constitutional difficult
ies, and at the same time secure-all the
advantages to the government and"
country that were expected to result
Trom tho present bank."
In making this recommendation he
was but following in the footeteps of
his illustrious predecessor,- Thomas
Jefferson, who, in a letter dated Sep
tember 11, 1812, to Mr. Epp:s, mani
fested the same unrelelenting hostility
to bank rag-money. Ho said:
"Bank paper must ba suppressed,
and tho circulating medium must be
restored to the nation, to whom it b
longs. It is the only fund on which
they can rely for loans; it is the only
resource which can never fail them,
and it is an abundant one for every
necessary purpose. Treasury bills, bot
tomed on taxes, bearing or uot bearing
interest, as may be found necessary,
thrown into circulation, will take the
place of so much gold and silver, which
last will find an efflux into other coun
tries and thus keep ths quantum of
medium at its salutary level. Let
banks continue, if they please, but let
them discount for cash alono or for
treasury notes."
" If these venerated statesmen were
alive to-day, and lived in Oregon, there
would bo no doubt' as to how they
would vote on the first Monday in June.
SILVER THE MOXKY OK THE CONSTI
TUTION. Under section 8 of the constitution of
tho United States, among the powers
delegated to congress was the power
"to coin money.'- Under section 10 of
that instrument it is provided that no
state shall "coin money, emit bills of
credit, make anytbiug but gold and
silver coin a tender in payment of
debts." There is an entire concur
rence of judicial opinion to the effect
that any power delegated to congress
under the constitution also in its very
nature imposes an obligatory duty, and
hence the power given to congress to
"coin money'' imposes uoon it the im
perative duty to do so. Can it bi for
one moment supposed that the states,
in convention assembled, would nave
placed upon themselves the Inhibition
from coining money and from making
anything but gold and silver coin a le
gal tender in payment of debts, if they
had contemplated tho possibility that
congress would ever be recreant to its
trust by denying the coinage of one of
the metals designaW in the constitu
tion, cither in part or in whole, or
upon other thau equal terms with the
coinage of tho other metal? Congress
has no mora constitutional right to re
fuse the free coinage of silver than it
has the right to refuse "to provide for
the common defense and goneral wel
fare of the United States. Both this
power and the power to "coin money"
aro conferred in tho same sectiou. and
the one is as obligatory as the other.
Every citizen of the United States has
a constitutional right to demand of the
government tho coinage of his gold or
silver metal. The refusal to coin the
money designated in tbe constitution
"gold and silver coin" is a grave
breach of faith on the part of congress:
it imposes a grievous hardship uiiou
the states which denied themselves
that right in the belief that congress
would faithfully perform its duty, and
it constitutes a flagrant crime against
tho whole people.
MONOMETALLIC BUGBEARS.
One of the bagb.ars conjured up by
the monometallism against tho five
coinage of silver is tho fear that it
would drive gold out of the country.
The same dismal prophecies and pre
dictions were made in l'TS as argu
ments against the passage of the Bland
law. How-were Ihey fulfilled? From
the reports of the secretary of the
treasury, we find that the increase of
gold coin and bullion in the United
States between 1878 and 190 amounted
to $4S0.70!,(39. Franco is on a bi-me-tallic
basis, and yet she is a natural
accumulator ot gold, and holds about
$J00.WM,OUO more gold than the United
States and $."!50.iK)0.000 more than
Groat Brilain, and has has b-jeu shown,
she, instead of any of the nations on a
gold basis, was enabled to loan tho re
quired amount of gold to the Bank of
Englaud at the time of Baring Bros.'
failure. Free coinage, ou the other
hand, would stimulate our importation
of gold, as it would enhance tho price
of silver, and by so much it would in
crease tho cot of gold to Euroe of the
commodities which in the balance of
trade India's monev buys. To add 30
per cent to the gold cost- in Europe oi
India's legal tender rupees is to en
hance the price at which Europe can
profitably receive and pay for United
States supplies now supplied by India.
Another bugbear is the professed fear
that free coinage will flood our mints
with tho silver'of Europe. - It has been
officially stated that Austria is en
deavoring to sell her interest-bearing
bonds for gold with which to adopt a
single gold basis for tho her currency.
But in Austria, with her present bank
stock of $27,000,000 gold and $80,000,000
silver, is unable to redeem her $230,000
000 of now irredeemable bank notes,
how much less would sho bo able by
discarding either coin? TJiero is no
fear from Austria; . Nol"ls there fear
from 'Great Britain, which has only
$100,000,000 silver; nor from Germany,
with only $145,000,000. As to France,
her $700j000,000 silver, like her stock
of gold, is her unlimited legal tender,
aud as such it circulates at par at
homo. Our mints could not attract
her silver, as 100 cents of her l;..vful
money would recoin into about 05 cents
of ours, so that the rccolning would
occasion hor a loss of $35,000,000, and,
providing that she could obtain gold
for hor silver, it would be no moro
available at homo as lawful money
than is hor silver now. Another seri
ous objection urged against free coin
age is tho fact that it would benefit
silvur-mlno owners. It would simply
reloive them of an injury inflicted by
tho unjust legislation of oongross. It
would directly tanoflt them just as it
would directly benefit all other classes,
except that class whose wealth is in
money, and that class would be indi
rectly benefited by the generally pros
perity which would follow. Has it in
deed come to this sorry pass, that all
financial legislation is to be resisted
that does not exclusively inure to tho
benefit of tho capitalists? And why
should not the owner of one of tho pre?
clous metals have coinage on an equal
ity with the ownr of the other?
"Eoual ricrhts to all and special priv
ileges to none" is a good doctrine for
mine-owners, as well as tor au otners.
CONTINUED ON FOURTH PAQE.J
WllVAWTER, Wm. SLINCER, v O. W. HOWARD, J. E. ENYART,
Pies. Vice Pre. Canhter. Asst. Caxhie
Jaekson County Bank.
CAPITAL. - $50,000
Loan money on approved security, receive deoosits subject to check,
and transact a general banking "bnslness "-on ffce most favorable terms.
tSTYour Business Solicited.
Correspondents: .
Corbin Banking Co., K. Y. Pacific Bank, San Francisco.
Commercial National, Portland. Ladd & Bash, Salem.
GIID
CtiTiL
Medford,
Harris & Pnrflia Proprietors. Terms: $1 $1.50 i$2 wrlr.
First-class in Every Particular.
Special attention paid to Commercial Travelers.
J. S. HOWMD.
Dry Goods, Boots 1 Shoes, Grocrcies,
and Crockery.
The best goods at the lowest prices for Cash. The highest prices paid
. for country produce.
MEDFORD, - OREGON.
mm i
MEDFORD, ORE.
PURE DRUGS AT
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its.
CTAMTS AND
IC'TATION EHV.
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B ROOMS
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PRESCRIPTIONS GAINFULLY COMPOUNDED DAY AND NIGHT.
All orders answered with care and dispatch. Our stock of Medicines
is complete, warranted and of the best uaTitv.
ITHEI
ClarendoM
HOTEL.
oi. G. COOPER, ppopp.,
Medford, - Oregon.
First-class Board l)y lie Day, M or Mo.
Centrally Located, West
HENRY
-si K-
WE
ARE THE
LRG EST
DEALERS
IN
SOUTHERN
OREGON.
HENRY
Medford. Oregon.
. J0IEL
Oregon.
OUUIlill U VV., r"
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AND
POWDERS AND
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OOAP8 AND
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Side of the S. P. R. R. Depot '
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Grawrfes,
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n DEFT COMPETITIOJ.
General stor on Main Street.
Warehouse on Front Street
MEDFORD, Oreu
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