Daily capital journal. (Salem, Or.) 1896-1899, August 07, 1896, Image 2

Historic Oregon Newspapers

Daily capital journal., August 07, 1896, Image 2

Image provided by: University of Oregon Libraries; Eugene, OR

About Daily capital journal. (Salem, Or.) 1896-1899 | View Entire Issue (Aug. 7, 1896)

Prev Page of 4 Next Prev Issue Next Text PDF JP2 (4.4 MB) Clip/Print Image

Return to Top

Prev Page of 4 Next Prev Issue Next

Newspaper Page TextMMMMNhMMdCtfiii a. aaaJUJi-f'nfifiiri 'ii' lUlTI'tlinl '- r-" urmiifaFirnntT mnn 1 1 ii in irmr-i Daily Capital Journal tiY HOKKR 3 ROTH BK3, FIUDAY, AUGUST 7, 18V0. Anything may be framed into a statute, thevvery government ftself might be over turned by some ridiculous provision and long year pass before the deplorable fact is discovered, as in the case of the bill de monetizing silver. That cmc alone 13 a warning. Nathinj more revolutionary was ever done wltn such Insidious quiet. No one knew of It outside the, three or four en gaged in It. Salem Statesman editorial Mny 27, 1805. HAVE PItlCES FALLEN The frequent reference byfrecsll vcrltcs to Soctb'cr'rt tables, which probably not one In a thousand or ilicm oVer mxw't make a reference to them in tills) connection pertinent, anil It should also be observed thai his tables do not extend beyond 183o. In his groupings, tlxlng tin pilccsfir 1817-50 at the milt of 100, he slums that Ills group "I'roddcta or Agrleul lure" stood In 188.J at 130, ii com pared with the prices or 18l7-:0, and that there had been no general fall In prices up to that time. That Is to say the "products or agriculture" i.i 185, twelve years after thccrl.no of 187:i, were 30 per cent higher than In J W0, twenty-three yearn before that crime was committed. Soctbecr comment ing, in another connection, on the rise in the value of gold, expressly says 1 lint "after repealed examination he docs not believe that the rise in the value of gold Is to hi ascribed chlelly to mint regulations. On the contrary these regulations are generally based on changes In the price of gold that hud ulready taken 'place in the open market." Other authorities, which are notdls puled, show that from 1780 to 1800, while gold and sliver at the ratio of 10 to 1 did not vary with refrencc to eaeh other as much as 10 percent, they both fell from 1780 to 1800, as re lated to the general commodities of life, 40 per cent, and from 1800 to 1810 they both ioso at the ratio of 210 to 100, a rise Immensely greater than that of gold since 1873.-0. 11. Moorcs lu .Statesman of August nth. If we can understand anything that Mr. Moorcs seeks to prove by the above two paragraphs It is that prices have not fallen but arc relatively higher than llioy have been In tho past. It ho will examine tho fourth table of "Coinage Laws of tho United States," 3rd government edition, he will sco that Sootbeer's tables of index numbers are brought down to 1800 and in later publication? they aro no doubt brought up to date. If Mr. Moorcs would tell us what particular work lie quotes Soetbccr's tables from wo could cxaiiituo them and see if his deductions aro correct. Sootbeer's tables give the average prices of 100 articles of staplo products In the Hamburg market and 11 articles of staples lu the English market. He averages tho price of the lllurtlclas for a year and compares the result by years, thus obtaining tho average price for a series of years, whether It Is upward or downward, Mr. Mooros claims that average prices by Soot beer's tables wero 30 per cent higher lu 1885 than in 1817-50. It Is worth inquiring why Mr. Moorcs contrasts average prices of products In 1817 -CO with prices lu 18W. Why did he not compare prices between tho periods of 1873 and 1800? That Is the period in controversy. Ho sneers at the crime of 1873, hut seems to bo afraid to quote Sootbeer's Ugures from 1873 to 1800. if Mr. Moorco will refer to tho Soelbccr tablo wo have called his at tention to ho will see that while sil ver and Hi staplo products have held an almost oven level of prices from 1873 to 1600, gold has appreciated from 30 to 10 percent. Silver and staples started oven with gold in 1873 but since then there has been a con stant fall of prices measured in gold. Wo will furnish tho tablo referred to and Mr. Moorcs can sea for himself that Mr Soetbcor whom ho has intro duced to prove the difference between prices in 1847-85 also proves an appre ciation of gold or nearly forty percent since silver was doiiionotlicd, Hut why did Mr. Moorcs, the gold standard champion, refer to tho period of prices in this country from 1817-85 nan basis of comparison? In 1810 prices wero lower than at any other time durjng tho .nineteenth century. Following tho Napoleonic wars and coultiicnolng with tfte re BLimntlon of sneele navmonts In Em:- laud In 1810, which resulted in an In predated nnd prices Went steadily down until 1810. In that year gold was discovered In Callfornla.and a few years later In Australia, and with the increased supply or gold, prices rose steadily until 1672, when prices In general were 30 iter cent higher than lu 1810. The next year the mints of the United Stales and (icrmaiiy weic closed to sliver, while the mintage of bllvcr at the French mints was re stricted, and as the demand for silver ( was thus curtailed, silver commenced to fall, while gold, with the increased demand thrown upon It by discarding silver, commenced to appreciate and prices to fall. And this fall in prices lias been nliuoit rontlnuouseverslnce. During a few years following the pas sage of Ihe Uland act and coinage of silver under that act the fall of prices was checked, and again lu Ihcyoais 1887-1630 an expansion or credit led to! to a slight rise lu prices. Hut this ex-J panslon or credit led to the collapse or 1800 and a further fall of prices. Mr. Moorcs refers to the seriate com mute oflb"Jl. The fall In prices be tween 1872 and 1801 Is shown by the following table or Index numbers based on that senate icport on prices made to tho second bcsslon of the I-'Ifty-sccond congress, and piepared by l'rof. It. P. Faulkner. The Index numbers Indicate that 9100 lu 1801 would purchase as great a quantity or commodities In general as $132.32 In 1873 or S120.G0 In 1871, and so on The parallel column showing lluclua tlons In silver shows that silver was worth 21.30 percent more In 1873 than lu 1801. The marked rise of sliver In 1800 followed the passage of the Sher man act. These tables arc of course bused on gold prices: General Index Number. Silver. 1873 1 32.32 12 1.30 1H71 120.S0 122.41 1875 122.00 110.38 1870.,, 113.07 110.75 1877 113.23 115.07 1 878 1 08. 35 1 1 0. 38 1870 104.77 107.50 1880 1 15.0 1 100.70 1881 114.01 100.03 1882 117.08 108.81 1883 111.07 100.31 1881 107.81 100.03 1885 100.87 101.00 1880 00.07 05.20 1887 100.43 03.72 1888 102.17 89.07 1880 102.17 89.50 1800 100.11 100.25 1801 100.00 100.00 Tho fluctuations lu prices since January 1, 1891, aro or much Interest. Thus wo llnd that, on April 1, 1800, $81.20 would purchase as great a quantity of commodities lu general as $85.20 th rco months before, or $100 on January 1, 1801. To repeat a tablo of 100 staplo articles In Ainorlcau markets from January 1, 1801, to April 1, 1800, shows a decline from 100 to 81.20. That is products that lu 1801 brought $100 would sell April 1, 1800, for $81.20. Six kinds or breadstuff fell In that period from 100 to 03.73. Live stock fell from ilOO to 08.47. Twenty-four articles of provisions roll from 100 to 83.00. Twelve articles of metals fell rrom 100 to 07.25. Silver fell from 100 to 05.39. It Is not necessary to multi ply instances. Moorcs will attribute them to the Clovelaud administra tion, which boasted that It continued John Sherman's financial policy, and tho St. Louis convention endorsed what it calls "tho present gold stand ard" under which prices have con stantly fallen as shown. It is Impossible to rovlcw all of Mr. Moore's assertions but wo give him credit with an honest de sire to know tho facts and as far as lies lu our power wo shall place thombeforo hlui. Wo do not oxpect to convert him but If ho will patiently Investigate theauthorltleslie-wlll con vince himself that falling prices aro the result of demonetizing silver. He says: "Other authorities which aro not disputed show that from 1780 to 1800 gold and silver at a ratio of 10 to I did not vary with references 1o each other ton per cent." Ho knows that wo hud free coinage during that period. Ills concluding words above quoted admit n rise of gold since 1873. Mr. Mooros, wo fear, Is progressing more rapmiy man Mr. ueor, and as the HopubllcaiiH thouisolvcs admit tho necessity or restoring silver to Us place as standard money, there Is really a hope that both gentlemen may put themselves on tho side of tho people In their struggle for ifnanclal 1 WAJ JS VAH Y, fo. vim III. maw rWi n iw t iixm- -rs. i STV 'A V-J-r U I lllhlli. -AJ "fc. I AAm'TAJl "" iSAVtt u . Wl3W fflJMiBSBW r&t- -i- i , 's ." WM-zy mirr.T iVvi iu Gu.. s&z&JJ- &&-- LS. T27 Y-TT- f I 'SiSwK jjjp 'tall ffi Vo" wl" flna one coupon Vm(Bm ijSt Itulde each two ounco hue -'"""TW5INSwWTOftWSB! nWr ' .4t-nnnnsinlniililoaeh $?$ NvVQmaS! ' fourouncebncofUlackwell's jjfeiCl ""fefV3: "''"Til Durham, lluy a bngof this Mtf 'l'MM' k I celebrated tobueco and road Cr-MfiSl6Mi3;e? Ht of valuable preieuta nnd h3HiiP how to go t them. Pi w iMStfft-M M Nothing BUT THE GENUINE ICKWEU CAMP JOHN A. LOQAN. How the Veterans arc Putting in Their Time at the Reunion. ' MEHAMA, Aug. 5. Kditok Jeuknal: A steady rain fall greeted us this morning upon awakening which lasted until nearly noon, but It did not seem to interfere with the announcement to a very great extent, as immediately after breakfast the campers began gather ing In gangs about the gionuds pleas ure bent. There was singing at the headquarters of the Ladles Itcllef Corny and the croquet grounds were the scene of intciestlug games all morning. Among the recent arrivals arc the Misses Sherman and Commander Barnes, or Sedgwick Post, or Salem, who is kept busy shaking hands and exchanging war cxpcrlcncesvltUold comrades. Judge J. II. Fairbanks was Bolzod with a sudden attack or neuralgia yesterday morning, and as yet has not recovered suillclenlly to take an active part lu the affairs or the camp. Wo hope he will soon be well again and regain his old time peculiar humor. Prof. Heritage and Rev. Grannis spare no pains In making their pres ence agreeable, and Judging from tho Immense crowds they draw and the prolonged outbursts of laughter vhlch their merry Jokes and witticisms occasion. It was their intention to drive to. Salem this evening, but duo to tho uncortulnlty of the weather they wero persuaded to remain at least until tomorrow. After lunch the weather was excel lent and the' proceedings wero opened by a song, "My Country 'tis of Thee," by nil with Pror. Heritage as leader and organist, followed by a song, "Columbia Freed," by tho choir; another national song by choir and prayer by Rev. Myers. Rev. Geo. W. Grannis Svas then Introduced as "orator of tho day" and took tho stand at 2 o'clock and delivered an eloquent and very liuprcsslvo patriotic oration, embracing citizenship, finance, Americanism and Dually closed with a brief touch upon the Immigration question. His speech was full of enthusiasm and was quite frequently Interrupted with cheers and loud applause as he touched upon tho important points. It was a rousing good two hours talk nnd all wero very sorry that he was obliged to quit on account of tho shower. There Is an excellent program be ing propared for tomorrow's feast and a good time Is anticipated by all. Yours, "1).' NEW ADVERTISEMENTS. VU7LDO LIFE felZli l'ORTKAUS for $1.5,0 Good only until August M. Collar 84 C0mmeric.1l street, Corner Leslie. 7.31 6tt Mks. Hickau, FOirSXL'G-l)K TKAUtf-MS acres im proyed farm iaild, 4 miles east of Salem.with new houso, new barn, running water; will sell or trade for cheaper laiid. Address O. M. nerve. Salem. Ur. 77lrn i'tlR S-l-li Gentle family hotsc and good w.acriucr, 14 lop buggycheap. Apply to C South Commercial st. WOOD" VVASYEDIen cords of prime big fir, ten cord of grub oak and ten cords split ash. Address, with price, XXX, care this office. rf itiL THE ORIiGOJTrKACll HiniiKS is nuw reduced to $6 co per doten if the cash ac companies the order. Per bottle 75 cents. Scud direct to the manufacturer, II. Klas, Auuisvllle, Or. 7-9 tm HERE'S YOUR CHANCE. A iiiopilciur wants to trade a good weekly newspaper ollicc in good town fur unincumbered ini roved Sa lem property. No opposition. Good rea sons. Information at t :1s office. 6 18 tf FoR SALE-D.iving mare for sale at a bar gain; weight alxmt 1160; good traveler, In quire of Win. brown & Co. 30 tf FORSALli-At a llirgain. and earner lot, Fine residence near city liall. For further particulars inquire at this office. C-i3 ll FOR SAWi OR RENTV-40 acres land miles out. Partly improved, wood and pastuie, good house, large barn, 2 acres bearing orchard, lot of small fruit, good water. Wood Htumpage can be had. Pox 145, Salem I IO.ME llOARD.-MJood table board, with home cooking, served in family style, only $2 a week. 105 Commercial street. Cia.im CARPET i'Al'ER Urge lot ol heavy brown wrapping paper for sale cheap, i'ut the thing for putting under carpels. Call a Journal office. T. H. HAAS, WATCHMAKER AND JEWELER, Makes a sptalty of fine repair work, Selh Thomas clock, etc., 215 Commercial Street Capital Transfer Co. HARRY TOWN, PROP. Express, baggage and all kinds cf work done promptly. Leave orders at Pattou's storo, 12 MEN WANTED to chop cord wood. The Labor Exchange wauts a numbc. of good wood choppers at once. Apply at warehouse. 11. J. SHARP, 8 4 tf Manager. freedom. The Ideal Panacea. James L. Francis, Alderman, Chi cago, says: "l regard Hr. King's Now Discovery as an Ideal Panacea for Coughs, Colds and Lung Complaints, having used it In my family for tho last llvo years, to the exclusion of nhv. slclans' prescrldtlonsorothcr prepara tions." Pov. Julia Hurgus, Keokuk, Iowa, writes: "1 havo been a Minister of the Methodist Episcopal Church for lirty years or more, and havo never round anything so beneficial, or that gavo mo such speedy relief as Dr. King's Now Discovery." Trv this ties freo Fred A 11! '' EH 1S7 Commercial street. J. III. BROWN, Salem, Oregcn. Ideal Cough Ilomedy now. Trial Hot . Legg's Drug Storo. When Baby u sick, wo cvo hr Castorla, Wheu tho wm a CW1J, sha crlod for CfcxtorU, When she become Mta, the clung to CastorU. Whw she- had Odldrvu, the gro them CastorU. Children Oryfoi creased demand rfgolduonoyFiSp:i,SitOhar'8'Castorla Soap Foam Washing Powder will not make the clothes yel low, nor burn the hands, Rich's -Raspberry Syriip. 1 he choicest article of the kind manufac tured. Made right here at balem. Nothing equal to it for desserts, drinks or table use. Call for it at II, (J, Sonnemnn's Grocery ff MARKET tB-FREE DELIVERY. VOLZ k MIESCKE Proos. Dcnlars in all kinds of fresh and salt meats i7Fresh sausage a specialty, 171 COMMERCIAL ST MONEYTO LOAN On farm land security. Special speci: Loat Bush rates on urge loans, t-oans considered without delay, HAMILTON & MOM Bank buildin3. Imjm i J ! 'rii-aT' TiiVilniiii K7j a PEOPLES PAPER The Great One Cent SiIver,Daily--The-OnIy,Associatedi Press f MV Silver Daily. r Daily Capital Journal $3 a Year -Weekly $1, ?'. POST THIS BILL Cut this out and post up In a conspicuous place where It will bo seen. All tho associated press papers In Oregon, except THE JOURNAL, aro published In the Interest or the gold standard. Send 2."c In silver for the dally one month. The Oregon Press Monopoly Will not treat tho restoration of silver fairly. It will not tell tho people the truth. It dare not, Take a fair paper that gives the people's side as well as the Wall street side. Are You a Patriot? Help your country by circulating the only Associated Press Dally In Oregon that advocates Independent Bimetallism. All tho news or the great bat tie or t'io people for silver. Advo cates the Illmetalllc Union of all who aro opposed to the si nglo gold standard. Do You Favor Unity and Harmony as thejwatchwordof tho people ofiOregon? Subscribe for theJCapital Journal I Daily thirty days for a silver quarter. Each Issue a complete history of tho -day and a gatllng gun of arguments for the pcoplo's cause. READ.! READ! READ! Tho people aro charged with Ignorance by tho gold press. This Is a false charge. Wheicvor tho cause of freo coinage of gold and silver 10 to 1 Is most discussed and best understood it Is most pop ular and strongest with tho people. Sixty Days for 50 Cents. If you can't talk or wrlto for silver read and mark -nrtlcles and send them to your neighbors nnd friends sixty, hot shot for 50c. Cheapest political ammunition In tho country. Send u sliver quartprorhalf dollar and try it. Tho neonle must bo educated ana It Is your duty to help do this work for humanity. i i t WE DON'T WANT GOLD alono, but wo want both owing In this country. currency, destruction of values, and repudiation. Investigate and you will bo convinced. .ticthortheU rnlH imii ciivnr Ti,n iu .. i.i 1. 1 .trU tnmv one-tweattev" y . wlnglnthUwuntiy our HOFER BROS ) - ;i ?,, . - '(Publial-xeijs?, Salens 0 &' $&Wlfet