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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1 lint "after repealed examination he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
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III.
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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
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Tho people aro charged with Ignorance by tho gold press. This
Is a false charge. Wheicvor tho cause of freo coinage of gold and
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If you can't talk or wrlto for silver read and mark -nrtlcles and
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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
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