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About Tillamook headlight. (Tillamook, Or.) 1888-1934 | View Entire Issue (Sept. 19, 1895)
r CONCERNING FREE SILVER. ■ «> ¿MU L3 Soin. Hl.torl.in Fact. For 10 to 1 on to ,r 'f 5 I A r r. 0 I T *4 - * ; i ■ L n? / I1 COHN & COM FAN T J We are selling goods to all classes or nationalities, regardless of their religion or race predelictions. New Stvles! STEAMER TRUCKEE two wteMs —M atr * — CM., one wy. (Tlll.m-* * F Steerage Cabin. Jt'*“'1 TrlP Freight. r""«1 or Pot »J “>P*r ,o" S am Manager Store and Mill. Hob.onrille Oregon frincipol Office, Berry Ä F Mills st Trnekes. Cal OCT Hi* Free Silver Mtutlc and Tell* the Truth. Senator Turpie of Indiana tries to break the force of what is known as the “hammer test” of money—that is, the fact that a gold co:n beaten out of shape retains its value, while a silver coin treated in the same way loses half ' its value—by claiming that, on account jf the one-tenth alloy a $10 goldpiece would only be worth $9 if it were pnt under the hammer. Senator Tnrpie ought to know better than to delude his fol lowers with such misleading nonsense. The weight of the pure gold in a $10 coin is the same as in an ingot worth $10. The alloy has nothing to do with the value of our gold coins, as any jew elry manufacturer who melts down dou ble eagles for use ill his business can tell the Indiana statesman. It is tbe 23 2-10 grains of gold which constitute the value of tho standard dollars of 25 8-10 grains, and that weight of gold is worth just as much when tho coin containing it is melted or hammered out of shape. Thousands of $10 and $20 pieces are melted every year for use in the arts. Does Senator Turpie suppose that business men are foolish enough to pay $10 for $0 worth of gold merely be cause it happens to be in the form of a coin ? _____ Free Coinage and Labor. Agent, for tbe M -iH»K • and freight from Sen Fran currying p*-«t»ierfc —~ Trip* evert ci*co. Tillamook Slid Fortland Throw* The seeds of sound currency and like ■ wise of sound sense a^e taking root even when sown in stony places. The Duran go Democrat of Colorado, which has been “whooping it up” for free silver and the mine owners, took a turn which must have surprised its readers and have dumfounded the gold contract silver mine owu-rs. Its leading editorial was headed “A Confession Wrung From Con science. ” In this editorial the writer throws off the silver cloak disguise and asserts his manhood. The following is a part of this interesting editorial: “Kentucky has spoken. Her honest stroke in support of the gold standard sounds the knell'of the silver humbug within her borders and sets a good ex ample for other states. “It is time, for the sake of Colorado’s reputation for honesty, if not for com mon sense, that some one in authority should disabuse the minds of eastern and foreign investors of the notion that this whole state lias run silver mad. It is true that The Democrat has joined with other newspapers in Colorado, for reasons which need not be specified here, in ‘booming’ silver, while everybody knew that it was steadily and irresist ibly on its way down hill. But the limit has been reached. Conscience re volts, as decency long ago revolted, against carrying on this fraud any longer. The political ends to be gained by it sink into insignificance when con trasted with the damage which is bound to result from it in the long run. ” The rest of the article is a clear com mon sense exposition of the certain operation of free coinage as a “debt sealing” scheme, and of tbe effect upon Colorado of continuing to advocate that scheme. It shows how hopelessly any business man would be discredited who should adopt any such principle and de clares that community's, whether states or nations, must suffer in tho same way, and it adds: “But since for once The Democrat is permitting itself the luxury of telling the truth on the silver question let us make still a further admission. We can not, by any liocua pocus or tomfoolery, by any false estimates of our own strength, by any brag or bluster or empty swagger, prevent tbo old world from collecting every dollar, every dime, every cent’s worth of debt due from us, with full interest to dato of payment. ” The result must be that, if free silver were successful, only Americans would be cheated. The process by which Colo rado has lieen kept in “the front rank in the past as a silver state” is described “not in bitterness, but in sorrow,” for "The Democrat is ashamed of itself for having lent its influence so long to the perpetuation of the humbug. ” But the end is coming. The article closes as fol lows : “ But there is not an intelligent and educated reader within reach of these lines who does not know that every word we have penned is downright, solid, unassailable truth. Bankers, mer chants, mechanics, farmers—we do not rule out any of these classes. In their innermost hearts they know that we are upholding national honor against dis honor, national credit against contempt, national prosperity against failure.” Cheap Money—Dear Horse». general ftfei’chaqiiige, Clothing J Editor It> his recent aonud money speech at Hillsboro, Tex., Judge Hutus Hardy cited the f llowing historical facts: T1 ■ United States t .day has a larger cirei.¡at:,in r,.r capita than any free coinage country ever did have. It has more gold d iliara per capita than any free coinage country on earth today has of all kinds of money. It has more silver dollars per cauita than any free silver country today. It has more gold than silver, and the volume of its silver circulation is great er per capita than the entire circulation —of gold, silver and paper reduied to silver—<.f any freo coinage nation. The United States under a gold stand ttf’l—since 1873 — lias maintained a greater circulation per capita than it I ever did before. Ibero has been five times more silver coined under the gold standard, from 18.3 till now, 22 years, than there was under free coinage from 1793 to 1873, 81 years. Every nation that has adopted the gold standard, except one or two who are on depreciated paper bases, has in creased its circulation. No nation of first class civilization has the silver standard. Mexico is the highest typo of free sil ver nation on earth on double standard, so called, and its per capita circulation is $4.71. Our per capita circulation has in creased since 1873 more than the entire circulation of Mexico. The wages of no free silver country on earth average a third of those in the United States. No country on earth has in practice a double (gold and silver) standard. No country for 200 years (since com merce became international)ever has in practice had a double standard. The proposition that there can bo but one standard is 'u fact self evident. (Carlisle and Mr. Ingham, secretary of treasury in 1830 under Jackson.) Both metals under free coinage have never circulated concurrently and indis criminately in any country where there are banks and money dealers. (Select committee of house under Jackson in 1832.) The overvalued metal under free coin age drives out the other. (Benton, 1834.) —Denton (Tex.) Monitor. A good illustration of the sound money principle that the quality of money is far more important than tho quantity is found in a story of Colonel C. J. Villere of General Beauregard’s staff. Riding up to a group of cavalry one day toward the close of the war, he was accosted with: “Hello, Villere! That’s u mighty fine horse you’ve got. I'll give you $10,000 for him.” “Not much, you won't 1” replied the colonel. “I’ve just paid $1,000 to have him cur ried. ” Manufaeturzra of and ---- --------- -—■'—•Dealers in An Masticate. Senator Turpie a Blind Leader. our the A COLORADO CONFESION. It is unque tionably true that no part of our people is so vitally interested in the preservation of a sound and stable currency as the men and women who work for wages, and in the term wages I include salaries and compensation in every form paid for personal services in all the occupations of life. The evils of a depreciated and fluctuating currency must always fall most heavily upon the poor, who do not produce for them selves but for others, and who are there fore compelled to purchase with their wages everything they eat, drink and wear. Their wages will remain station ary, or at best they will rise slowly and at long intervals, while the prices of the necessaries of life are liable to rise suddenly from day to day as the value of the currency changes, and consequent ly what may appear to be a fair rate of compensation at the time a labor con tract is made may prove to lie grossly inadequate long before the labor is per formed. The laborer cannot protect him self against fluctuations in the prices of commodities, for he cannot purchase at wholesale when prices are low and keep out of the markets when prices are high. He must buy day by day, and he must pay out of hie earnings, whether their purchasing power be great or small. The employer cannot afford to promise higher wages in advance, because with a depreciating and flu< tuatmg currency he cannot possibly foretell what the prices of his product, will be st any time in the future. Thus the laborer is the victim of two influences, neither of which can he successfully resist. H< must accept whatever wages are offer« by employers or go without work, am he must pay whatever price, are de nxanded in the markets or go withou food.— Secretary Carlisle at Ioui-ville. flow Will They Get It? Silverites reply to the proof thattlicro is far more money now ill this country than at any previous period in our his tory by saying: “The money is all locked up in the banks. We want freo silver so the people .'■ill have the mon ey. ” But they never explain how free coinage, under which the silver mine owners’ would take their bullion to the mint and get back coined dollars, would put those dollars in the pockets of the people, or how it would keep them out of the banks if their owners chose to de posit them. The fact that we have near ly five times as much money par capita as Mexico, a free silver country, should lead the believers in free coinage tc think a little about the probable results of their scheme. A MISSOURI STORY. Unde Billy Doesn’t Agree With Hi* Free Silver Neighbor. LEGISLATION AND PRICES. Law* of Tra<l«> Mor« Powerful Law* of Nations. THE PRICE OF COTTON Than tlie Tho Iowa Democrat« on Aug. 7 de clared against free coinage of silver at 16 to 1 by an overwhelming* majority. T1 4 following is a short quotation from tbo r:« di Hon. Nathaniel French, chairman of the convention: “At what ratio shall we coin the metals so that a dollar of one will equal a dollar of the other in intrinsic and exchangeable value? W hen we want to know how much things are worth, wo go to the markets and find out. Wo don’t hunt up a congressman to ask the value of eggs or spr.ng chickens or grain or anything else, or if oongress has de clared what their value shall be. Wo know that the mere declaration of con gress, or even a constitutional amend ment, could not fix the price of a single egg. In like manner, if we want to know how many ounces of silver an ounce of gold is worth, we must go to the bul lion markets instead of tho revised statutes. Thomas Jefferson could not have won undying fame as a statesman and leader of the common people if he had not been endowed with an abun dance of common sense, and over 100 years ago, when congress sought his ad vice as to the ratio to adopt, ITir the coinage of gold and silver, ho said: ‘Disregard legal proportions altogether. Inquire into tho market price. ’ He know that opinions should not and could not be controlled by legislation. Ho knew that the basic laws of trade were more powerful than tho laws of nations and that the multiplication table could not be altered by statute. “To so coin gold and silver that both shall circulate together by reason of parity of value wo must follow Jeffer son’s advico and inquire the price of gold and silver in the markets of the world. If wo find one ounce of gold will buy 32 ounces of silver, that is tho ratio to adopt. To put in the silver dollar more than 33 grains of silver for each g ain of gold in the gold dollar would at once drive our silver money from cir culation, and to put in less would ban ish cur gold. The loss of either would be a misfortune, and to retain both we must adopt the mercant ile ratio, putting in our coins no more and no less than is heed* d to make one of equal value to tbe other rlhANCIAL RAINMAKERS. Free Silver Charlatan* Endeavoring Humbug the People. to It is only a year or two ago since the country was thrown into excitement by the announcement that a man named Frank Melbourne had discovered a method of bringing rain out of clear skies. To tho farmers of tho western prairies the news was especially gratify ing, as they had so often suffered from drought that a moans of supplying arti ficial moisture was of tho greatest im portance. In spite of the warnings of men of science that tho man was an im postor many villages and towns paid considerable sums <.f money to Mel bourne and his imitators, expecting to be favored with refreshing showers. It is true that in some cases it did rain i after the rainmaker bad sent up a bal loon with dynamite and had set off some gases out of ami-chine whitdi he carried around in a wagon, but in the great ma jority of eases no rain fell, and the peo ple lost their money Even when it did rain no sensible man believed that it I had been brought by the bombardment of tho air, and now Melbourne confesses that ho cannot and never could make rain, saying in a recent interview: “There is no such thing as making rain. The American people like to bo hum bugged. The bigger tho bunding the easier they are duped. ’’ Another set of charlatans are now traveling through tho south and west engaged in trying to fool the people into believing that wealth will be rained down upon them if they will only elect a free coinage congress and president. Peffer, Bland, Stewart and “Coin” are preaching doctrines that are just as silly and as much opposed to natural laws as were those of the rainmaker«. It is not strange that people who could be delud ed into thinking that a quack could make rain should believe that debasing the measure of values would make more wealth. But fortunately they are in the minority, and the intelligent majority will never consent to be made the vic tims of such foolish schemes. The new rainmakers arc making lot« of n.nsc and sending up plenty free coinage gas, but they are only laughed nt by the men of sound common sense. Let the quack.* go on. but don’t waste any money on them. GOVERNED BY THE LAW OF SUPPLY AND DEMAND. Free Silverites Should Study Thia History of Frothiction What and Prices Since 17D1. the Record of €r«»p* l’rovea—Sil ver Ha* N«> Effect on Prices. The Hpread of freo coinage Kentimeut in the southern states has beeu almost entirely due to tho belief that the low price of cotton was caused by tho adop tion of tlio gold standard. Tho main argument of the advocates of a 50 eent dollar in this section of tho country has been that tho alleged demonetization of silver was the cause of the marked fall in cotton during tho past 33 years. A.bullet in just issued by tho depart ment of agriculture giving the history of the production and price of cotton for over 100 years proves conclusively that the use of silver as money has nothing to do with tho decline in value of cot ton. Beginning with 1791, with a crop of 8,889 bales, worth on an average 26 cents per pound in the United States, tho production rapidly increased during tho next ten years to 210,526 bales, and the price at the same time advanced to 44 cents. In 1802 the crop was 241,228 bales, of which 120,619 were sliipped to Great Britain, but, owing to the great ly increased supply and a large stock— 154,000 bales—on hand at tho close of the year, the price dropped to 19 cents per pound in New York. In spite of this remarkable decrease in price the crop increased to 310,000 bales in 1810, worth 16 cents. In 1816 tho crop was 457,565 bales, but tho enormously increased demand from Great Britain forced prices up to 291,» cents, and the next year to 84 cents. These high prices caused an increase in tho acreage of cotton, and by 1820 tho crop was 606,061 bales and tho price dropped to 17 cents. Tho production in creasing, prices fell, in 1822, to 11.40 cents, and in 1827, with a crop of 957,- 281 bales, and with 502,860 bales in stock, to 9.29 cents. By 1834 an increase in tho European demand for cotton bad advanced tho price to nearly 13 cents, with a crop of 1,205,394 bales. For tho next five years prices fluctuated widely, averaging from 7 *4 to 20 cents per pound, and when, in 1840, the crop amounted to 2,177,855 bales, tho average price went down to 8.93 cents. Tho great crops and the ac cumulation of larg^tocks in Liverpool caused a «till further decline, in 1845 reaching ft cents, the lowest recorded price, with a crop of 2,394,503 bales. By 1850 prices had advanced to 12.34 cents, and for tho next ten years aver aged about 11 cents, tho crop increasing to 8,655,557 in 1850 and to 4,861,393 in 1860. The war which broke out in 1861 brought ou tho “cotton panic,” which lasted to 1866, when prices went us high as $1.89 per pound. Tho close of tho war loft many of the cotton growing states in an impoverished condition, and it was not until 1876 that the crop was as largo as that of 1860. In tho mean time tho prico had fallen with the grad ual increase in production until in 1871, with a crop of 4,852,317 bules, it aver aged 16.95 cents. In 1873 cotton was badly damaged by excosive ruins, and with a crop of only 2,974,351 bales, tho price reached 20.48. In 1880 tho crop was 5,761,252 bales and tho price hud fallen to 12.02. Tho increased European demand for a time prevented prices falling to tho level of the decade previous to the war, but by 1889 the stock on hand began to in crease beyond the demand, and in 1891 the unheard of crop of 8,652,597 bales forced tho price down to 9.03 cents. In 1892 the crop wrs 9,035,379 bales, the stock on hand amounting to 2,253,000 bales. Prices fell to 7.64 cents, but ad vanced in 1893, when on »(urount of un favorable weather the crop fell off to 6,700,365 bales, to 8.14 cents. An in crease to 7,549,817 bales in 1894 was followed by a decline in price, and the greatest crop on record in 1895, amount ing to about 9,476,435 bales, brought down tho price to 6.26. The following table gives the compar ative crops and stocks of cotton ami the lowest and highest prices in the United States for two decades, showing that prices reached tho lowest point during the years when the accumulation of sur plus stocks was the largest, and that those were the years of l.ug<*st crops : Anent the silver question comes a good story from over in the “kingdom” of Callaway. In one of the most fertile portions of the "kingdom" lives Unde Billy----- . Ho is a character ill his 1 M l 1 I K5O. way, and a prosperous, liardwCuking Middling up* Crop« In Hnrplus In man, with grain in his barns, fat horses, land in r lb. in Unltod Europe nt New Orleans. cloHo year. Ktuti ’ H, sleek cattle and blooded sheep and hogs ('•nt*. B.h*. Bal.* in his pasture, and money to his credit H w 12 G7MO) I'M! . . ..I.(U4.!<4 in the bank. He attends to his crops 7HI,«AKJ (rtl!) »•*. i .< h ;,.'74 IM2. HU7,(XM> h. M and has no time to sit on tho fence and IMX. .. .2.:i78.x7ö «UO'4 O’. 2,<W,4W IMI. discuss silver. A neighbor of his, who M, T ' i 1,101.00 IM45.. is a rampant Populist and silver advo (<h MORTON ON SILVER COINAGE. 1,219,000 2. iuu,r»7 IM6. cate, passed his place the other day. He <a. 13 022,000 1,77s,All IM7.. When 50 Ont wiit ut Nukes Dollar Flour, ft (<412 rz* i.ouo 2.4:<».7h0 ISIS.. accosted Unde Billy as follows: ft fiWi.OOO We C*n Have Free Mil ver. ng?». “Well, Uncle Billy, when do you GPI m (#12% W‘< ISM).. . ..2.: mi ,7 ih Secretary of Agriculture Morton re think we will have better times?” 1HS0 ISOff. “Have you got any fat cattle?” asked cently wrote this caustic letter to a busi IS>A. H B m 9% M2,UUU M IO‘4 «16,000 "‘i IMK7. Uncle Billy. ness man in New York: HTM.IJUO ('1 10'' |KKM.. ,7,O4(MtfJ " No. ” • W ash I motos , Junefl. 1M96. er II' , 1,291,000 I''. ISF.I.. “Have you got any sheep?” D kah H ir —I haat«-n to acknowlodge the ro- 9 7 IO»« 11 j ,: m . ouo 18.41 . ...7,HII,:tt3 oeipt of your communication of Juno fl and 1MH..... .s.»r»2.«r7 7 11 IS»'» 10% "No.” 1,047,000 2,2ft; 1,090 would be plotutod U> have you explain to inc 1X2. "Have yon got any fat hogs?” l.'.rfkJ.niM) 6 1.1 lA't 9 13 in “Hardly enough to make my moat. ” tho “principles of bimetallism" about which ¡M>CI (a, M 3-irt ¡,«12,000 . 7.6I9.H17 IHM write. It will be gratifying also if you "Well,” sain Uncle Billy reflectively, you «7 2.4*4.0110 9.47«, 4.ift will illustrate to mo how tho farmer is to be !«:<>• “I'll be d d if I see how times are benefit««! by haring 50 c< nta' worth of silver •Th«* flguH-M for IM*, ß aro to July 1. This record of cropland prices proves going to get any better for you.”— ooibot) paM* for a dollar in th** purchase of his Globe- Democrat. wheat and other farm products. Tell me like that inst(*ad of being caused by an in wise why tbe farmer should advocate a mone crease or decretive in the two of silver The Trouble With Them. tary system which will eomjx l the gold miner money, the price of cotton de|s*nds in The trouble with some of onrsilverite to labor until he pmduc**« 100 rents' worth of every cum on the relation Is’tween sup papers is that they have too many edi gold bullion I m fore he may have it coim-xl into ply and demand. Larger crops have re a dollar and at th«* same time will permit the tors. While the heavy editor is writing silver miner to stopsMurk and demand the free salted in falling prices, and when in a labored articles to prove that the coun coinage of every 50 cents' worth of silver bul few years with an increaeetf crop prices try is going headlong and whooping to lion which he digs into a dollar. advanced it was the iner» ased Enro|s*an Inform mo al th»* same time, if yon ph-ase, the devil, the telegraph and news edi why tw the phraatt “IS to 1” unless yon demand, w’hich meant that the crop was tors are filling their departments with desire you to acknowledge your* If a gold mono- not larger as compered with coDsninp evidences of jirosperity on al! hands. nw-talliMt. 1* not the unit “one ” which you tion, which regniated the price. The They should try to average things.— mention gold, and by your phraseology do von rw’ord further ¡/roves that in the year not dwlare against two units? Montgomery (Ala.) News. 1845, when the silverites claim that nil When the silver miner and bullion owner shall have t*atabnsb«*<l by 1«-gtslstion gov« rn ver w’as the unit of value, the price of Keeping I p • Great Noise. meat gri«t mills which shall eonre rt <*v»-ry 50 Some of the silverites are like boiler «•nts* worth of farmers' wheat into a dollar cotton in the United Htates was lower makers. They keep up such an infernal of flour, it will tie time enough for tbe farmer than at any time in the history of the In view of these fact* we to advocate laws which shall convert ev« ry 5o country. racket* that they can hi ar nothing but «bents' worth </f silver bullion into a d«4Ur <4 should hear no more of tbe price of cot- their own din. soln Kcspeetfally y*»«r*. too as a reason for debasing our cuircnry J. MTKRIJRU MORTOW by ¡rutting it on tho silver sfandard.
