Daily capital journal. (Salem, Or.) 1896-1899, August 21, 1896, Image 2

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Daily capital journal., August 21, 1896, Image 2

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Newspaper Page TextDaily Capital Journal By HOlfCl bHOTHBKS FRIDA7, AUGUST 21, 1890. Clrctliutc UryniiM speech. There Is no middle of tlie road be tween McKlnley and Hryuii. John II. Mitchell will never advo cate bimetallism with the consent of IIcnRlnnd. The Koldltcs want a Ilrltlsli dollar. The rest or the people think an Amer ican dollar food enough. Shall our country die of apoplexy, or shall we get means of real bimetallism? financial relief by President Hawley of Willamette Unlvorsityj has achieved national fame as a Woodman of America. The OrcRon Tress Association knows how to have a Reed time. They ro to Astoria nnd have banquets and excursions. The friends of Independent Ameri can Jllmetalllsm propose to hpeud what money they do spend on educa tion of the people. Mayor Claud Caleb deserves credit for bis tireless cfTorts to j,'"l" the pleasure of free circus tickets for the orphan's homo children. Hon. Sylvester Pennoycr may make but one speech In this national cam paign. It will bo atSalcm, Septem ber oat the Union Ilryitn ratification. Muyor Pennoycr will pay blsro upects to the Ilrltlsli uncMlio Bolto crats at Salem September C, nnd the people oftlio Willamette valley will bo nt Salem to pay their respects to the mayor. Col. W. r. C. Urcckenrldtfe who was whipped out or Ills scut In congress by the women of Kcntucky,ls out against Bryan. Tho women of America nro for Mr. Uryan, and tho MolClnloyltcs will got no strength from that gray- heard lothalroln tho blue grass com monwealth. August 'Si tho Democratic, I'coplo's and Amorlcan silver parly commit tees will meet at Portland to make up tho Uryan olcctoral tlckot. It will probably ho composed of representa tives or the three parties, us has been dono In other western states. Uryan men uro not alarmed nt Mo Klnloy clubs. Tho men who huvo hold fat Republican olllccs for thirty years miiBt go sumowhero. They go intotheso clubs. They put party above principle and cannot ho expected to net othorwlso. Friends of Uryan should go to hear Mr. Qccr by all means. Ho will not discuss tliu real Issue an Indopond out American money system versus tho gold standard until Hengland consents to International bimetallism. That Is tho only Issuo in this cam paign and, of course, ho will beg tho question It looks as though ouo of Elder Qrannls's church members atSnlem bud set a trap for his pastor nnd not caught him. Tho only point not to bo lost Bight of Is, that If a minister dips In politics ho must be consistent. If ho makes a specialty of enforcing tho 'Sabbath luwS on other people, ho must not expect his church members to support a candidate who does not observe tho Sabbath himself. Wo do not 6co how Row Grrnnnls can sup port McKlnley. Kucklen a Arnica Salvo The belt Salve In the world I for Cuts, Sores, Botes, Ulcers, Salt Kheum, Fever md all Tetter. Chtpped hands, Chilblains, Unities, Skin Eruptions, and positively cures Piles or no pay required. It Is guaranteed to live ix r (ec satisfaction or money refunded. Price 35 cents a box For sale by Fred A lSR mmmzmrj&i!M.9tz I INFANT HEALTH S SEiTLFREE m A Httla book that should bo in every u home. Issued by tho manufacturers fitll Bwfen Eifilt Brand Vs rkslW"l Wrk I N. Y. Cmientei MllJt C. M mttou Stree t, Xiw Tark mmmK!mm&2SZSK&M&Ki THE MONEY CL1RUES. Contlnlieil from (Irot patfe. excess of our Imports Indeed, for t he llbcalycar 18M, the ftade balance In our favor was over 8100,000,000, but this excess of expe: Us,ovcr Imports fell Mhortof oHMJltlng the Interest charges accruing against us on account of our immense foreign debt. And besides these Interest chanrcs, payment of which we have to provide for and which have aggregated for the past few years not less than $200,000,100 per annum, wo nro called upon to make provision for the expenses of Ameri cans abroad and for frclghtscarncd by foreign shipowners. For the payment of all the&c charges we must provide over and above the amount of the Indebtedness wo Incur on account of what we buy abroad. And exports of merchandise In excess of Imports falling to provide the means for the payment of this Indebt edness, an Indebtedness Incurred on account of Interest charges, expenses of Americans abroad and freights earned by foreign shipowners and ag gregating not less than $3 0,0.0,000 a ycar.thc demand for the export of gold Is great. So during the last fiscal year we exported over $100,000,000 worth of merchandise In excess of our Imports and our net Impoilsof gold and silver sulllced to settle Indebtedness of $100,- 000,000 more. Yet still a large amount or Indebtedness remain unpaid, calls for the payment or which made an Im perative demand ror gold for export. This condition the exchango bank ers were called upon 10 race, xney had set themselves to the task of checking gold exports, and to do so they were under the necessity of pro viding drafts, on London, to all those under the nccssltyof remlttlngabroad and to meet tho drafts, drawn on Lon don, they had to provide the means or payment. They knew that drafts drawn by American exporters agalriBt exports of merchandise, and which they could purchase and forward to London for thcr credit, would not sufllce, and they had barred them selves against the export of gold. So but one course remained to them. They must go abroad; they must pay their drafts drawn on London and which they could not cover with the bills of exchange drawn by American exporters, with money drawn In Lon don. True, such borrowing would not BCttlo our Indebtedness abroad; it would merely shift it to other shoul ders and postpone the necessity of ex porting gold; hut, If the export of gold could bcipostponed until aftor tho prcsldcndlal election, tho purpose or tho gold contractionlstB would bo served. So tho oxcluiugo bankors undertook tho tnsk or postponing tho day of rokonlng, hoping thereby to blind tho American peoplo to tho terrible cost of the gold standard until, by tholr votes, thoy had Irretrievably shoul dered, on themselves, ror four more years, to come, tho grievous yoke, of uu appreciating standard, that Is grinding down our producing classes to poverty and building up, on tholr Impoverishment, an oligarchy of wealth. With groat gusto the money cliques caused It to bo announced through a subsorvlcnt and subsidized press that tho exchange bankors had completed arrangements to borrow 950,000,000, or, If needs bo, $75,000,000, In Loudon, against which they could drnwdurlng tho next two moutliB, In place of shipping gold. It was then announced that such action had restored confi dence of European Investors In Amer ican securities; that Europeans would thereafter nppcar as buyers, not as sellers of our securities, and that tho full In stock exchange quotations would ho checked. Hut before threo weeks had elapsed prices of securities on our stock ex changes began to molt away. Ilrltlsli Investors Beld: thoy did not buy. Tholr confidence In American Invest ments was Impaired, not strengthened. And why should It have been other wIsoV Exports of gold huvo Indeed been checked; but tho announcement that in order to check gold exports during tho months of August and September, and thereby uvcrt a drain on tho treasury gold resorvo, It was necessary ror tho exchange butikcrs to borrow $50,000,000, perhaps $75,000,000 ubroad, was notice- to tho world that, unless such stops had boon taken, gold J must have gone out to the extent or 1 the gold temporarily bonowod abroad. It was tin. Ice. In fact, that America under the gold standard was on the brlnkor bankruptcy; that bankruptcy and suspeiiHlon of gold piyment could not be iiiuoh lunger postponed unless j one or two things occurred. Either 1 our foreign creditors must loan ns tho money to pay thebi the Interest on their loans a prospect at which they have naturally taken alarm or we must do somcthli-g that will raise prices, so that our exports will go further In settlement of our Indebted ncss. Under the gold standard, prices tor our products must go lower; so we must continue to borrow nnd borrow until our foreign creditors refuse longer to loan, and then we -must acknowledge our Insolvency to the world. This Is the ract that the announcement or tho completion of arrangements by our exchnngo bank ers to borrow abroad during the next two months $50,000,000 or more has brought home to European investors In American securities. No wonder they should sell, not buy. And so, under pressure to sell from abroad ns well as at home, prices of railroad as well as Industrial securities have melted away. And why not? What gives railroad securities their value? Obvlbusly of their ability to earn and pay Interest on their bonds and div idends on their stocks. And this ability has been undermined by the fall In prices; for as prices have fallen tho demand for their services has de creased, leading to Increased competi tion among railroads and lower rates. Railroads can prosper only when those producers, farmer, manufactur ers, miners, who have located along their lines can buy liberally of the products or others. This alone can make freights. And obviously, when fanners cannot sell nt remunerative prices, they cannot buy. Moreover, what is true or rarmers is true of those engaged In manufacturing. The fac tory hand cannot buy liberally or tho produce or the rami save when em ployed at good wages, and employ ment at good wages ho will not find while prices nro falling, for falling prices sap the proilts of Industry and lead to curtailed production, which means a falling otT In the demand ror labor and consequently lower wages. So railing prices have led to it de creased demand ror transportation services, havo undermined the earn ings or railroads, and thoreby taken nway tho basis on which tho value or railroad securities Is dependent. Con sequently It Is only natural that rail road securities should have falleTTJ" ror tho power of railroad corporations to cam nnd pay interest and dividends has been curtailed. Tho valuo or railroad properties has been under mined, nnd so tho prices of tho securi ties that represent this valuo have fallen away. Thus It Is that there Is nothing to cause surprise In tho recent melting away of prices for stock exchange se curctlcs, Hut such fall has con founded tho machinations of the monoy cliques bent on making appar ent prosperity with tho hopoof divert ing tho attontlon or American voters from the consideration of the teal causes which huvo led up to tho In dustrial stagnation from which thoy suffer. Tho gold rontrnctlonlsts have, In deed, succeeded In postponing gold exports, In momentarily checking tho drain 011 tho gold reserve, nnd putting oft a bond Issuo that must havo been n powerful aid to blmotalllsts In rivet ing tho attention of voters 011 tho monotnry question. Hut tho gold contractloulsts whoso hopes of success rest In keeping those men with hon est hearts mid upright Intentions In Ignorance as to tho true cause that is fastening our producing classes to tho wheel of poverty, aro threatened with another danger to tho cnuso that de pends 011 darkness for success, u cause that tho spread of light must defeat. Men's attention to our monetary system scorns about to bo attracted by renewed ovideucs of tho shortcomings or our banking .system. Tho full In stock exchaugo securities lms Jed to a drain 011 tho resources of tho New York banks. Those that havo lent money ou securities of 110 real valuo In preference to tho products of labor, those who have taken stocks and bonds of speculative valuo as security BWS YOU r r"' J m NOTHING BUT THE GENUINE -4CKWEIL for loans Inprefcrdneotomeichandlsc, I thoso who have put aside commercial paper to loan ou stock exchange secu rltlcsln furtherance or some specula tive scheme, havo found the Inflated valuo given by manipulation to the stocks they hold as security for loans shrink nway, and they find themselves no longer with security for tho ad vances they have made. And with tholr resources thus undermined an unmistakable demand on the banks for money has set In. Already the re serves of tho New York banks are closed down to the legal limit, already there Is a feverish calling of loans, already there Is rumor of an Issuo of clearing-house certificates. Our bank ing system is again on the brink of being subjected to another test. And when subjected to the test, It must as In the past, fall. Tho shortcomings of n system un der which our banks undertake to redeem In money credits Issued to three or four, or live times the amount or money In their vaults seem again about to bo exposed, and our banking systonusecms on tho veige or being subjected to a test that will bring be fore our peoplo the dangers of n sys tem that makes possible tho Issuance of n large credit fabric redeemable nominally In money, but for which the banks cannot provide tho means of redemption, and resting In the case of many of the banks In the largo cities, and especially in New York on securities of purely speculative value. Thus will tho attention of our peo plo be fastened on tho unsoundness of a system controlled by thoso who so loudly proclaim their advocacy of a sound monetary system, and thus per chauco will tho machinations of tho monoy cliques to enslave ourpcoplo bo overthrown. Lctblmctalllstsor all parties pull iogcthcr,lct thoso who aro resolved on rrcelng our people from dependence on foreign money cliques and their American allies put aside party pre judices, let Democrats make It easy for Populists to throw their strength to Mr. Uryan by according them talr treatment and recognizing them as men who aro prompted by patriotism and a resolve to free our peoplo from the yoko of tho monoy powor, let Pop ulists, 011 tho other hand, put aside their petty Jealousies within their party as well as without; above nil let all parties drop tho assumption that thoy alono havo a monopoly of patrio tism, an assumption both of Dem ocrats and Populists that crops out from t lino totlmo,let us nil give our support to Mr. Uryan and tho prln clplo of Amorlcan Independence for which ho stands, and come what may wo will confound tho machinations or tho money cliques to enslave our peO' pie and wo will Inaugurate an era or prosperity and advancement ror our common country that will astonish tho world. There will bo no gold standard Democrat lo electoral u Oregon. MEN-AGE Up QulcUIr.Tuorouclily. ITorever Cure J. IVmroutofflvoYrba uffor ucrvoujucM, mental worry, at tncV 4 of " the bluee," nro bc paying tho penalty ot early excesses. Vic tims, reclaim your ra&nhrwkl. rrciln vmir mfatmiMm !&& wmmmm i i mam viTO&wwsw ("it:.. wmi yp ff yutT if n tj v x 11 visor. Don't deeiIr. Bend for book with xplauaUou and proofs. Mailed (scaled) free. ERIE MEB10AL CO., Suffalo, N. Y. a i Vou wilt And ouo coupon lnsldo onch two ounco bag nnd two coupons lnsldo each four ounce bagofBlackwoli's Durham. Buy a bag of this colcbratud tobacco nnd'rcad tho coupon which gives a list of vuluablo presents and how to got them. rs00RHAH Gent; ON THE DOLLAR, Ed, S, Lamport, 289 Commercial st Salem, Or,, Has'bought the Frank-E, Shalv fcr and the M, Bcamer harness stocks at forced sale, $4,000 worth ot goods will be disposed of at 50 cents on the dollar, Sign of the White Horse, Salem Steam Laundry Please noticcjthc cut in prices on the followingi Shirts, plain , 10 cents Under drawers 5 to locents Under shirt 5 to locents Socks, per pair 3 cents Handkerchiefs I cent Silk handkerchiefs 3 cents Sheets and pillow slips 24 cents per dozen, and other work In proportion. Flannels andflothcr work in tclhgcntly washed by hand, Col. J, Olmsted Prop, WANTED. Solicitors for campaign book "Bryan, Sewall and Free Silver," authorized by Uryan. written by R. L. Metcalf, Editor Omaha World-Herald, appoiuted author by Uryan. Contains speeches nud platform. A bonanza for agents, a free hiker mine for workers. Only $1 50, The only autnorized book. Co per cent. Credit given. Freight paid OutfTt free. Begin now with choice of territory. Permanent, profitable work for 'o6. Address' The National Bcok Conce n, Star Building, Chicago. 8 10-301 OREGON CENTRAL .AND Eastern R. R. Company LYAQU1NASUAV ROUTE.' "Connecting at Yaoulna Bay with the Sa trancisco & Yaqulna Bay Steamship Co. STEAMER "FARALLON," Sails from Yaauina every S days for San Francisco, Coos Bay, Port Orford, Trinldod and Ilumbolt Bay. Passengor accommodations unsurpassed. Shortest route between the Willamette valley and California, Fare from Albany or points west to San Francisce: Cabin, $0; steerage, $4; to Coos Bay and Port Orford, cabin b to Humboldt Bay, cabin J8; round trip, good 60 days. $iG. YAOUINA BAY. The most popular seaside resort on the North Pacific Coast. No undertow surf bathing absolutely safe. For those wishing to combine hunting and fishing with aquatic sports, this resort, has no equal. Deer, bear, elk, cougar, brook trout and salmon trout can bs found In abundance wilhin a few hours' drive of the bay, ty Reduced rates to all points. EDWIN STONE, Manager, Ccrvallis, Or. I. C. MAYO, Supt. River Division. M. P. BALDWIN, Local Agent.Altona Dock Salem. "I bring you good tidings of great joy, which shall be unto nil people." A "BIBLE KEY" "The Plan of the Ages." This Is the best work on tho Bible, tver Issued from the press, It gives a complete explanation of all the doctrinal subjects of the holy scriptures, presenting the wonderful harmony, simplicity aud beauty of Cod's plans for the redemption of the human fkmllv from sin nnd r!9tV IIia iun,1r I, complete in three (3) volumes, all for$i. Address T. H. LLOYD, 164 Waller street, balem, Or. 7.17.1m" SALEM WATER CO. Offices Willamette Hotel Bulldln" For water service apply at office. Bill payable monthly in advance. Make a complaints at the office. lliere Will tw nn .1Hlirt.nn In iirita. ...- on account of temporary absence from the ..j ... ..unto u icii ai mc oince, Hereafter water for Irrigation will only U furnished to mmlm. mn...m ,.. ....... ......., vw..M,.w U911.U water for domestic purpose. Contractors for sid. Wflll Kril' ia.1. ...I l.-.-.I ti. 1 ..-.-., w..v ..u..im iiiiuicnng will pieave read "under hn1MI n?,-ck '.- schedule of rates for 1893. Apply at office for copy TIlQ RflKU erochnnos Aftil A t.lvatn...t . .. . . riiblv nhl.lVli Ti. .1" l 5ne ",n In'" tnv-l lom'a Wr&Tl Vvd?!Gr Hsi&Gr&T&gfrn mwMm 50 O JHC. MAOK. - DENTIST.,- Successor to Dr. J. M. Kcene, old While Corner, Salem, Or. Parties desiring superior operations at moilerote fees in any branch are In epccinl request. Peter G, Norgren, Kfitiuerlv ullli I'. I. Ijirtrn Xt Ct Cnrrmye nnd wogen shop, 320 Cqmmerciid slier 1. iiring on oar wuik, oiii or new, and have It tknu with a guatanlvc of satisfaction. 6a6d&wtf WHAT IS 3AID. Some say we give llic best meal In town for 15c. We say try us anil see. worn 1 iin uun 1 L' I I S. RICHARDSON. PROP. l-'p'Sccond door north of Hctcl Willamette. "THE ANDERSON." Stago headquarters centrally located at "The Anderson" for lines leaving Salem. Slates there for orders. All packages and parcels left there wlll.be cared for. Waiting parlors, rood rooms, and meals at oil Hours GEO. W. ANDERSON, Prop. DEPOT EXPRESS, Meets all masl and passenger trains. Bag gage and express to all parts of the city. Prompt sci vice. Telephone No, 70. JAMES RADER. MEN WANTED to chop cord wood. The Labor Exchange wants n nunibc, of good wood choppers at once. Apply at warehouse. B. J. SHARP, 8 4 tf Manager. f. H. HAAS, WATCHMAKER AND JEWLLER, Makes a spialty of fine repair work, Setb '1 l!iniift. clorkt, etc., 215 Commercial Street MONEY TO LOAN On faun land security. Special rates on large loans. Loans ' consideied without delay HAMILTON & MOIK i!uh Bank buildlnr). MONEY TO LOAN I On city or farm property. Over Bush's Bank, T. K. FORD C. H. LANE, 3t "iii 1 n.jSSiV) J"y Sull Jlj UnvarilK. l,nU'uf wands1 ol ws mm rJTFREE DELIVERY. W0LZ;& MIESCKE rW ertlars ln"all kinds "of fresh atvlMiait meats EPFresbaauaro:a specialty. 171 COMMERCIAL ST y I. B, 'BROWN, 187 Commercial street. Sajem, Oregon HsBPi ONE-HAU am Qp box -3 POZZONFS COMPLEXION POWDER1 friSf,.-tt!i?5?.TSH? . w rvrM(w, .vMn7 man uTcr uiur9. 1 l'ft77ft'IIC I lllhaMuln.i..i. . .- ... . 7&?n!!!?.c,e?S,T healthful and hanuleu.! I A aeucata, lnTUlbla protection to th tap, i w 1 tb OTeiy box of lozzuNPgi st saatr t VAX?! Timu-M uuui "U-'. HO A. la irlvtn fnut af rlunm f AT DnuaaiSTS and fancy stores KIk Out non.DoHonoa renin fur Uouorrtuea (Meet, Sparmatorrhwa, Wtilu. unnatural ill charge, or aur lnumma lion. Irritation or ulcra- ttnn nt niimA.II n. fitll. a 1 w&ai?!. aireau4 1 icl b. itrltture. cHuTs mi u 'gfttttllW Sfmtitu wtutloa. irHltlllSUHUlClUO. uraiKi, jioa-uu... tw i . . - -": ... .-..... CUCllOtlTl.O.IilM oiP7iiii, ".S.. jm?r, " ""."ftS MnffHlvNl Tftlfilln .llUILtVJUllvJL .L'Xl'JJJUlt fountain yim ! EAST AND "sojjfij -VIA Shasta Route, oi'BBniE Souihem Pacific ft, California Express TrainKim 1 Portland . Mi?,l tween ht;.. ,tttt-"Jcio. lltoou. m.v l.v t.i "'" :l0.tn. iIlinjAr-slrlv.'' cv?$EES lefiAlWvlAT'IMiK !& from Rrneburg lo AshiandlX, ,ta,lA '""w MAIL DAILY .So.illi 1 - ,4..- 8:;i0 ii.m. lONirtliwiiTarT IV. Knlmit 1.. tfortn 11:00 n.m. 5:20 p.iii. ar. HoscbV lvl r 1 11 t At a'm ' 1 1 1 1 1.- iw, im and Kcond-clau .sleeping cars attached t0,H WEST SIDE DIVISIpjj, Between Portland and Corvsllii, d'ailr f, cept Sunday,) 7130 a.m. I Lv, 12:15 p.m.! Ar. Portland. Corvallls. ... ...u-.. .uTaiui connect with trains of Oregon Contra! & Eastern Railroad. Af Ath, nu .ml r..ii(. Express train dally escept Sunday. 4L1C t). m. I I.V. I'nrllin.l A. 7U5 p. m. f Ar. McMlnvllle Lt i:JS s ra". S:SQ- en. THROUGH TIPk'PTS to all points in the Eastern States, Ciradj and Europe can be obtained at lowest nt from W.W. SKINNER. Acent. Ss1l E. P, .ROGERS, Asst. G. F. & P. a., . rertisnr: it. R. KOEHLER. Manager. -jo, Mihv & Si. Paul Ry. GLANCE ATI HIS MAP. Of the Chicago, '"Milwaukee , 'and St. risl Railway and note Its connection with si) transcontinental lines at St. Paul and Osahs, and remember when going east that its tn'u are lighted with electricity snd heated by steam. Its equipment is superb, Elcpst Buffet, library, smoking and sleeping can, wltkj free recliniog chairs. Each ilecpiaj cati lth hu an electric reading lamp, sad IUnKiii cars aro the best in thevaU. Otltil5l are longer than this, hd I nW are iMtr, and no other offers the sborelu uriouavisctommodations. There sre inSetot reasooslfoi1, the popularityiof "Ths Mil kee." Ccpon ticket agenu la ertry rsU road oftlct! will give yon further InfonnaiW, or address , . ... CJ T.EDDY, General Atent, J. W, CASEY, Trav. Pass. A Through Tickets TO.THE EAST! iVIA THE Union Pacific System. . . .- ttatit Ml (trough ;h Pullman "':"KZ dal' and Free.' Reclining Chairs vi Seepera between Portland to Chicago. ' . . ... 1.....J hMcsm p4 H Our trains - -lightea by Pintsch light. Timo to. Chicago, 3 !'- JP T me to New York. 4 '-'XrUiw - WiAch Is many nou,.-, -rntes, time tables and follW apply to WISE sfr BAB 220 D.m I o.'OO am SALEM PASSEVfiPiT Ko.ltll T7r- 0:15 p.m. nr. Salem lj! 80 a 2 DINING CARS O.V nr.npl. nr VVMUI1 IVIIIIIIV .... iu.p,a, LV IlitCn m A. !.... - All mm af, PAUL r nnnWNi r.W BAXTER, "Du,.pss.Art Ar.nnedcplcxlaaSsJ dr. Itpror'"J-,ww tUIU. or 3 bottle. (ITS. J Irsuler scat on rwjoee.