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About Tillamook headlight. (Tillamook, Or.) 1888-1934 | View Entire Issue (Sept. 5, 1895)
PACIFIC UNIVERSITY. Fall Term Begins Sept. 18, 1895. Tin»« College Courses, Classical Scientific m.d l.itemy The Ac; d -res for college and gives a thorough English e,hi,,,u„„, lhe ‘ '“'Z T fgACHlNU or BUSINESS. 1'he school has "'»avs be.n d »ii,lglll>|,M| fo, , bre».lth and thoroughness of its work. It has h |;|, r M rr of 7(H„, " e^pmentsfor mathematical and scientific woik. and ||lle «in, ih/l.,. t moder" improvements. The Marsh Hall just completed at a cost of «50 ikx ) i, on,. „(th. finest college buildings on lhe Pacific Coast. All expenses very |,’,w. Hood and rooms at the Indies' Hall >3.(10 to >4.0.1 per week, ini ludiin> electric light ind l,eal. The College Dormitory, under excellent .. ............. nt, furnishes hoard and room, at »2.25 per week . Board in private families, J2.50 and upwards Many ,Indent» rent rooms ami board themselves at a cost „„t m exceed >1 50 , week ' For full particulars address THO.S M’CI.EI.LAND, president Eorewt Grove, Oregon. Sturgeon’s flew and {Select {Stoclç A Fine Line of Jewelry. Stationa.y, Books. Prescriptions Carsful'y Compounded. T illamook , O regon . N ew APPLES i Pears, Nut Trees, and Novelties. STARR, the largest early \L tipple, 12 inches around, and marketable first week in July ' I Paragon, Farlin and other apples. KOONCE P™r, early, hand some and delicious. Lincoln Coreless, very large r.n I very late. Also, Seneca, Japan Golden Russet, Vermont Beauty, etc. Jipm Quince Columbia, unequaled for jelly. ——-r; ___ _ Parry's Giant, 6 Inch« aroim.l, the largest kuowa chestnut. Paragon. Numis» and many others. Walinits-Fietich, Persian. Japan. English and American. I'ecans, Almonds, Filberts, Kleagnus I.ongipes. Japan Mayberries. Hardy Oranges, lluarf Itockv Mountain l berries, free from insects, black knots and other diseases Small fruits, grapes, cm rants etc. Shade trees, ornamental shrubs. C atalogue F ree . WM .. n Pomona Nurseries. BARRY. Barry, N. J. L. W GLÆSBR., The Barrel Maker..... •» Has opened his shop here again, and is ready to make Barrels, Kegs, Firkins, Kits, Tubs, etc., at modern prices. All work warranted first class. Tillamook. Or. SILVER AND WAGES. HOW FREE COINAGE WOULD AFFECT THE LABORER. American Go kt WM.. will Be Reduced to India Sliver Wages—Proflt. ..r Em ployer. Will lie Advanced Silver Ours tlon In a Nutshell. (( The following is an extract from Free Coinage Dissected," a recent number of Sound Currency, by the Hon. John De Witt Warner: But there is another way to look at it. We have seen how appreciation of gold means higher wages to the laborer. Now let me show you what this so call ed appreciation of silver means. I short ly since heard a very pleasant gentle man, Mr. Cannon, a delegate in the next congress from Utah, expound the silver side of the free silver question, and he went on to explain, first, that prices of goods were low here beeanse they were measured in gold, and then that, on account of our wages here be ing paid in gold—which was costly— and wages in India, China and Japan being fiaid in silver — which was worth only one-half what it had been— they had a 50 per cent advantage, and that therefore there was great danger of manufacturers being driven from the world's markets. Do you see what that means? That their wages are so much lower than ours on account of the appre ciation of gold here; that, unless onr wages are made equivalent to theirs, in that respect at least—unless prices are inflated here in this country so that our gold wages will buy no more than their silver wages—their labor will tend to drive onr labor out. In other words, the proposition to appreciate silver is prac tically a proposition to cut the wages of the laborers of this country squarely in half in order to increase the profits of their employers. Three mouths ago, though I should have argued this—fur I believe it to lie true—I should not have ventured to state that it was the serious contention of the free silver ndvocates. But I have not merely heard it put forcibly by the gentleman I have mentioned as speak ing for that cause, but I have it in an other statement. Sir Henry Meysey Thompson is one of the leading silver advocates. He offered a large prize for a man tvho would write the best essay explain.ng now it was that Cu.ua and India and other silver using countries were getting an advantage over Eng land, and a great many people competed for that prize. Mr. Jamieson, the Brit ish consul at Shanghai, wrote so good a paper that lie was awarded the prize, and that essay is now the chief stock in trade of the British agitation for the restoration of silver. Now let me read yon something from it. Sir Henry Meysey Thompson is proud of it. Here it is; "Wages in the gold using coun tries have, through the appreciation of gold, become 100 percent dearer than they were relatively to silver wages, ami the manufacturer in tho silver stand ard countries can obtain his labor at half the cost which he formerly paid;” hence "while old established industries in England are barely paying expenses new industries in India arc arising broadcast and paying handsomely.” And the remedy proposed by silver ad vocates in England is to correct this ap preciation of gold and raise prices, so that tho British workman, though get ting tho same nominal wages, will get only half the real wages he gets now, and the British manufacturer thus be enabled to compete with the Indian manufacturer. A similar view is taken by Seuor Romero, the Mexican minister at Wash ington, in l.-> article in The North American Review for June, when he asserts that tho depreciation of silver has favored Mexican capitalists by low ering the actual wages of their em ployees. There is the silver question in a nut shell. It is simply the question as to whether our wage earners are getting too high wages. They may as well face the question. If wage earners believe they are getting too higli wages, and that this country is suffering in conse quence, all they have to do is to take lower wages, or if they prefer a round about way they can favor free coinage of silver, »nd they will get their wages ent down half without any further trou ble on their part, ami we will be bless ed as are India and China. Flat Wheat. LUMBER ■■■ BOXE? At their Hobsonville store they carry « Urge stock of general J^e^chaqdi^e, Clothing Farmer—Wheat is only half a crop this rear. Free Silver Politician—Ihat s all right. We'll have a law passed to make two pecks a bushel, and then you’ll have as much as usual. Dry Goods, Boots and Shoes, H.rdwar»,...... —- Fee<1, Provisions, ht<‘. Special Attention to OiW in jobbing Lol?. A HUtorleal Fact. STEAMER TRUCKEE iner Truckee, Agent, for th« «-> cnrrvins p..«nger. and frekM rom San Fran Trip* evert cli<o. Tillamook and Fortlan« two weeks weather permtttiwf —R ate « — F Steera<e Cabin. Bonnd Trip. PreKht. »«"«*> -ercb..Kl.« or Portland. «J « P«r lo" J. E. SIBLEY, BMK«>nd Mi,L Prlucip.1 061«, Berry »... • F «"'• «' ï”*'“' * *' f »5 <3 Francisco Oregon The Nashville Banner says: "This is a historical statement that can t be re feted, and it goes to the very heart ■ t the financial issue. No country lias ever circulat'd concurrently for any contriti arable length of time both gold and sii ver money when there was free and in dependent coinage of both The attempt ed bimetallism under such conditions has resulted always in alternate circula tion of th« two metal», the cheaper motel taking the place of the dearer as ratios were varied, either by commercw. causes or by legislation. " SILVER AND PRICES. Commodities Have Fallen Twenty Per Cent. Stiver Has Reduced One-half. Ill his speech at Gainesville, Ga., on July 23, the Hon. Hoke Smith said: The claim, therefore, that the money of final payr.ent has been reduced one- half, thereby depriving the public of a sufficient volume, is simply groundless. We still use gold and silver both and have more than we ever had prior to the passage of the act of 1873. The claim also that the currency has con tracted, thereby appreciating the value of gold, is shown to be false by the enormous output of gold last year. It was the largest in the world’s history and amounted to 1181,500,000. The world’s coinage of gold in 1893 rose to $232,785,000, and that of silver to $135 ,389,000, making the largest year ly coinage in the world'« history, with possibly one exception. The world's stock in full legal tender, gold and sil ver, today is, by the largest statistics, »8,965,900,000 gold and $3,435,800,000 silver, and it must not lie forgotten that even though the gold standard may be in force, the silver coined furnishes money for final redemption to relieve the pressure upon gold, just as if it had been coined upon a free coinage plan. The claim that gold has appreciated, thereby depreciating the value of prod ucts, is based upon the thiory that the decrease in the value of silver and in tho value of products has been contend poraneous. A careful examination of the facts shows this not to be true. The average decrease of commodities since 1873 has been about 20 per cent. The heaviest decline has been in the lino of those things which the masses of’ the people buy. All theso reductions in prices are partly attributed to a lessened cost of production and partly to the re cent panic. While the commodities have fallen 20 per cent silver has fallen 50 per cent. But to consider particular articles: Ill 1873 corn sold for 41 cents a bushel; sil ver was worth »1.31 mi < unco. In 1895 corn sold for 52 cents; silver was worth 67 cents an ounce. Silver bad fallen 50 per cent and corn hud risen 25 per cent. In 1873 wheat was worth $1.17 a bush el; silver was »1.31 an ounce. In 1878 wheat was »1.84 a bushel; silver was »1.15 an ounce. In 1880 vheat was 90 cents; silver »1.04. In 1895 wheat was 85 cents a bushel; silver 67 cents an ounce Cotton. This is tho production in which our peoplo are directly interested. The claim that tho value of cotton do- pended upon the rise or fall of silver has been shown to bo without founda tion this year. Cotton in tho last four months has risen 30 percent; silver 5 per cent. Prior to 1878 the price of cot ton varied from 4 to 40 cents. Silver never fell below $1.29. In 1845 cotton sold for 4 cents. Silver was then $1.32 an ounce. HISTORY OF COINAGE. SIXTY-EIGHT YEARS’ UNLIMITED USE CF BOTH METALS. Free Silver Ha« Not Been Successful In llai«!nir the Price of the White Metal. Fall lu the Price of Silver Accounted For—Foreign Money Law«. The proposition is to take off all lim it us to coinage; to withdraw the gov eminent support of silver; to let any man who has silver bullion worth 50 cents have it stamped 100 cents. With out government support 41212 grains of silver and the new silver dollar would be of the same exchangeable value. The question, therefore, is, What effect would free coinage have on silver bul lion? Would 412Lj grains of silver be come worth as much as 25.8 grains of gold? Would free coinage give it an ex changeable value equal to our present dollar in tho markets of the world? If the value of silver is not doubled by free coinage, then the exchangeable value of our new silver dollar must drop to the actual value of tho silver put into it. We would not have bimetallism, but a gold dollar worth twice as much as the silver dollar, and the silver dollar wonld become the standard measure of value, driving the gold dollar out of cir culation. We would reduce our stand ard cne-lialf. When the act of 1792 was passed, Jef ferson and Hamilton both determined to make the new gold and silver dollar equal in value to the then standard of measurement, which was a dollar equal to 24 3 Í grains of gold. They recognized the fact that the exchangeable value of a coined dollar must be controlled by the commercial value of the bullion put upon it. Therefore they undertook to find how many grains of silver uncoined were commercially equal in value to 2434 grains of gold. They decided that it required 15 times as many and mul tiplying 24% by 15 placed 371 % grains of silver in a dollar. This undervalued gold. For the first • few years, owing largely to the lack of quick international communication, it circulated to a limited extent, and then long before 1834, went entirely out of circulation, and we were on the silver standard. In 1834 Jackson sought to re store bimetallism, but ho was unwilling tochange the standard upon which busi ness was then being done. He recog nized the danger to commerce of chang ing the standard. He therefore reduct'd the amount of gold put into tho dollar, so that under the new coinage the bul lion value of both dollars would be just equal to the dollar then in use, and at his instance a now ratio of 16 to 1 was passed. It was soon found that this new ratio undervalued silver, and shortly RIGHTS OF PROPERTY. after 1834 this country wont to tho gold Tlie Spirit of Free Coinage Is Essentially standard of 25.8 grains of gold to the dol Socialistic In Its Tendencies. lar and has been on it ever since, with It cannot bo denied that the spirit of the exception of the time incident to the much of the free coinage literature is war. distinctly opposed to those rights of Under tho new ratio, after 1834, even property which are at tho bottom of our fractional currency was worth more whole social system. It is not needful when melted than its coinage value, to dwell on the fact that human prog and therefore in 1853 it became neces ress is only possible when the producers sary to provide a fractional currency,- of wealth are protected ill the posses containing a reduced number of grains sion of all they create. The examples of to the dollar, und their legal tender was those countries where property is iuse limited to $5. Tho Spanish milled dol cure is sufficient proof that the enjoy lar was still in circulation, but the ment of property is tho first requisite of highest amount of foreign silver by tho civilization. estimates of tho treasury department in Various schools of agitators, such as circulation at any time was $50,000,000. the socialists, communists and anarch In 1860 tho gold circulation was ists, are seeking to abolish tho institu $214,000,000 and subsidiary silver tion of private property. In the cheap $21,000,000. While 4,000.000 silver dol money agitation which is sweeping over lars had been coined they have all gone the country wo find the essential ideas o. t of circulation, being worth more of the socialists, etc., in another form. when melted as bar silver than their There are ill this country a large num face value. ber of jieople who have saved a little These facts prove that free and unlim money, which they have loaned out to ited coinage of both metals by the Unit others. The advocates of free silver ed States did not substantially affect boldly claim that the result of tho udop the Irallion value of either metal; Ihat tion of their money scheme would lie to tho cht apt r metal becamo the standard take from all creditors one half of their of value, and the other wont out of cir property by enabling debtors to repay culation. tlieir loans with dollars worth half as If 68 years of experience with free much as of those borrowed. This is and unlimited coinage of both metals nothing less than n proposition to take showed that by free and unlimited coin the property of those who have saved age we were unable to affect, first, the money and invested it, and to give it to value of silver, to make it equal to gold those who have borrowed, or, in other at the ratio of 15 to 1, or, second, the words, the confiscation by law of one- value of gold, to make it equal to silver half of all the loans of the country. at 16 to 1, when the difference in their When the farmer and workingmen un bullion value was only 5 per cent, is it derstand that this is the real object of not, preposterous to claim that free und the free coinage agitation, will they unlimited coinage now will so increase continue to favor the attack on private the value of silver when the discrepancy property?_______________ is 50 per cent? It cannot be claimed that the legisla A Financial Charlatan. The Minneapolis Tribune says: “Con tion by the United States in 1873 seri •• commercial value of gress m Joseph C. Sibley of Pennsyl ously affected vania is put fo’-ward as the silverite silver, for since that time we have fur candidate for the presidency. Mr. Sib nished a market for $600,000,000 of sil ley is not widely known to the country, ver, very much more in proportion to but he gave the public some taste of his our increasing commerce than went quality in his speech at the Memphis through our mints during the days of convention on Wednesday evening. The free and unlimited coinage of silver. The fall in the price of silver can gist of his speech is contained in the four following ‘political axioms,' which, easily be accounted for. In 1878 the he says, eiflbody the result of his study world's pr* duct of silver at coinage value was $ 1,000,000; in 1892, it was of the money question : “ ‘First.—Double the volume of mon $196,450,000; in 1893, $209,165.000. and in 1894, $214,481,000. This enor ey, and you double prices.' “ ‘Second.—Divide the volume of mous increase in the production of sil ver took place despite the fact that sil money, and yon divide prices.' “ ‘Third.—Double the volume of mon ver had fallen in value 50 per cent. By Dgislai. n passed in 1871 2 Nor- ey, and you divide the debts. ’ •• ‘Fourth.—Divide the volume oi way and.*M\\ < den and Germany suspend ed the coinage of silver in 1873-4. Ger money, and you double the debts. ’ "If Mr. Sibley's first proposition wort many drmonetizwl silver and jmt $300, true, ho«* —v.- v ••lulrl be for govern 000.000 of bullion upon the markets of ment to regulate values by simply in Europe. Denmark, Holland, Russia, creasing or decreasing the volume of Austria and Hungary each suspemled circulating medium. If doubling the the coinage of demonetized silver. The volume would double values, quadrup Latin union, composed of France, Bel- ling it wonld quadruple values mid in giun Switzerland, Italy and Gr»*«e, creasing it a thousandfold would nriki was ! reed to suspend the coinage of sil every dollar's worth iff property worth ver b<>cause it was found imp» Hsibh' by »1.000. In thia way proj'Tty could bn fre<- coinage to sustain the value of sil increased ill value sufiiciftirly to make ver bullion. This was done l»y suspen* si<m f<»r 12 months at a time from 1874 everybody rich.”—Biilumore Sun. to 1878, when the iraspeturion was made without limitation as to the time of Kentucky Fwibion. continuance. Since then India, Brazil, ▼hut will you tek» »•’ th»- Nation «aid. Kentucky then r»*pll«rd. Arg entine Rtrpublicand Chile have sus “1 <u<-Ha I’ll bare money «traighl-- pended free coinage.—Hecrotary Hoke With silver on the irids.” Kmith at Gainesville, Ga., July 23. — Washington Post. AGAINST FREE SILVER. Vuliinitecl Coinage Would Make America the Dumping Ground. At the Iowa Republican convention, held at Des Moines on July 10, tho Hon. Josej h R. Lane, temporary chairman, made tho following reference to the sil ver question : Silver being necessary in the money of the world, we must either maintain its coinage at par by legislative limita tion of the amount er change the coin age ratio ot the basis of its market val ue. Under the policy of legislative limi tation of the amount, aided by redemp tion when in excess of demand, we have been able to maintain at par our silver coin, although its intrinsic value is much less. This policy was satisfactory so long as the price of silver continued high, but when it became reduced, on account of overproduction and other causes, there sprung up a demand by the producers of silver for special silver leg islation. This claim has now crystal lized into a demand for free and unlim ited coinage of gold and silver at the ratio of 16 to 1. This means to give to every man, to every nation, the right to deposit at the mints of the United Str.tes silver in unlimited quantity and to demand and receive in return, free of charge or cost, that silver coined into money at the ratio of 16 to 1, bearing the stamp of our government. In my judgment such a policy will make America the dumping grouud of silver for the world. It means we would be brought at once to a silver basis. It means the degradation of our dollar to 50 cents. It means repudiation. It will bring an avalanche of silver, but a rest for labor. The Republicans of Iowa op pose this. Jn the state of Iowa if \vn owe a debt, we expect to pay it in money worth 100 cents on the dollar, in money of equal purchasing power with any other money of the world. If any one owes ns, we demand and expect pay ment in money of equal value. This is a vital question to all classes. The farm er, the laborer, the merchant, the man ufacturer, all classes have an interest in the maintenance of goo<l currency. The dollar they receive for their productions and labor should have the highest pur chasing power and be as good as the best purchasing dollar in the world. Upon a sound currency depends to a large ex tent tho development, the prosperity, the success and the maintenance of our people. DEMANDS OF SILVERITES. They Ank More For Silver Than Iliu Ever Been Granted to Gold. One of the clnms made by the advo cates of silver is that the government should treat both metals alike, ifow does the government treat gold? For every 23.2 grains of puro bullion de posited in the mint tho owner receives a gold dollar weighing 25.8 grains and nine-tenths tine. Tho government stamp adds nothing to the value of the metal. It simply certifies to that value and put;: the metal in a form convenient for use. Everywhere in the world gold thus coined is worth $1. If yon go to Eu rope, tho little piece of gold is worth $1. If your house burns down, the little lump of gold that was worth $1 pre vious to the lire will be worth $1 at any jeweler’s any whore. The advocates of free silver do not want silver treated this way. Oh, no! Tiny ask for more. They ask that the owner of silver bullion bo permitted to take it to the mint and have the govern ment stamp 37114 grains, witii tho necessary alloy, ns a dollar of eqnai legal tender with the gold dollar when today the valu<‘ of the bullion in tho dollar is worth only 53 cents. They ask that th«* government stamp, its fiat, tn tho extent of 47 cents, shall be put on every 53 cents’worth of silver they take to tho mint. Say lhe houhe burns again The piece of silver worth $1 the night before because of the stamp only is only worth 53 cents when taken to the jew eler. Don’t you see that the silver |>eople are asking more from the government for silv( r than was ever granted by any government in the world for gold? One m<‘tal stamped $1 because of its value tho world over? the other stamped $1, und worth but 53 centa anywhere. If wo are to have flat money, why not have it all fiat, and not 4 7 cents fiat? If we are to have fiat money, let it lx* paper. But. the silver people claim that if the government p:is><s a free coinage of silver bill silver will iinme<liiite- ly jump in price from now being worth 53 (M-nts for 371 ’ i grains to 100 rents for the same amount. Do you lielieve it? Some peojile are almost willing to believe that lhe moon is made of green cheese.—Humbohlt (Tenn. ) Messenger. Too Much lluiiliieNM. FKKK MILVEK MAKF.H UXCLK HAM A SLAVE a 1»«»K m lia<l Name, Etc. A Isiy in Kansas WM pulling a dog along the nwl by a rope. The boy call ed to his dog, "Oune along, Pop. you ornery cuhm .” A bystander asked him why hecalled thedog Pop. “For short,” answered the buy. “What’s his full name?” “Populist," unswen-d th«* l)oy. “Why call him Pop ulist?” asked the strangor. “Well.sir. the boy said, “ts'rause he Is just like a Populist. He’« the orneryist dog in Kai -as. H»* ain’t worth a dtim otily to n t m his tail and howl.“— T<^ h ka Daily (’apifal.
