Evening capital journal. (Salem, Or.) 1888-1893, 1891-08-28

/ AAN tAHFANa AtNNn INV AnNNfl iiG Will
ed. Lyon took $50, 900 and signed =
release of all claims against Stew
art or Park. Judge Patterson, In
the supreme court today, heard
argument on the motion of Lyon
TO strike out certain alleged ire
levant allegations la Stewards
answer particularly that on black
mail. The court reserved its decis
ion.
FROST IN MINNESOTA.
HECTOR, Aug. 2s.-There was u
light frost last night but no damag,
was done to corn or fax. Wheat II
turning out fully as well as expected.
M1NNEAPoLis, Aug. 28.-Dis-
patches received by The Journal
today about the frost say wheat
around Bismarck, N. D., is un-
touched. At jamestown two-thirGs
Of the crop is more or less injured
No damages in Cash county since
Sunday night. At White Earth
Indian reservation, Mimi, 779 acres
are destroyed. The loss there is
estimated at ID, 900 bushels.
SHERMAN's SPEECH.
PAULDING, Ohio, Aug. 2S.--Sena
tor Sherman's speech was devoted
entirely TO the silver question. He
supported the present coinage act,
and said that if congress had pro
vided that all silver brought to the
mint should be coined into dollars,
no gold would be coined, for an
ounce of gold is worth more than
sixteen ounces of silver. Gold
would cease to be money, and wculd
be boarded or exported. No man
would be fool enough to deposit an
ounce Of gold for coinage into six.
teen dollars when, with 1t, he could
buy enough silver bullion and have
it coined without cost into twenty
dollars. Free coinage is all nonsense.
Under the new coinage act, the
United States is purchasing n4onthly
more than the entire product of sill
yer bullion in the United States, and
all this bullion is represented in our
currency by either silver coin or
legal tender treasury notes. We de.
pended under this act ia the pur-
chase of silver bullion prior to Au-
gust lst, this year, $50, 5,9l9,S ,S2l, and
issued that amount of treasury notes
which are now la circulation. We
thus provided an increase of curren.
cy equal to or greater than the in
crease OF business and population of
the United States. One distinctive,
striking feature of this law, is that
the United States will not pay for
silver bullion more than its market
value. Why should we? Nearly
all the silver produced in the United
States Is by rich corporations in a
few new states, and it's production
at the market price is far more prflt-
able thanany crop of the farmer, and
yet 1t is the demand of the producer
of silver bullion that the United
States should pay 25 per cent. more
than its market value that lies at
the foundation of the difference be.
tween the Republican and Demo-
cratic party. The tendency of the
policy Of the present act will be to
advance the value of sill
yer bullion to its legal ratio with |
gold, and, when this is reached,
both metals Will be coined on equal
terms and conditions. | believe the
measure will work out the most ben
eilcial results.
Examining the position taken in
this canyass by the Democratic
party, Senator Sherman referred to
EX- President Cleveland's utterances
ON the SILVER question, and said that
whileCleveland was president no free
coinage measure was proposed.
President Harrison is known to en-
tertain the same opinions, yet, now,
under strange leadership, this
scheme to change the standard of
value is pressed into our state can
vass, believe II is the result of a
bargain betw cen what is called the
National Executive Silver Com.
mittee' composed of representatives
Of the great silver mining corpora
tions of the United States with some
Of the leaders of theDemocraticparty,
by which a portion of the profits of
these eoporallons is 10 be invested In
this Ohio canvass to defeat the Re
publican party, and especially to
I'Down John sherman" on the Is
sue of free coinage. As for myself
Il is Il matter of little importance,
but what do care IL that the state
If Ohio shall not In any way be re-.
'ponslble for the policy proposed by
his combination, or for the evils
hat will How from IL. They invoke
n its support a new party calling
tself the "people'sn party, which
> represented malnly by disciples of
he old greenbao% money craze.
appeal TO the wage workers, farmers,
md business men of Ohio, appeal
o the conservative men of Ohio, OF
10Th parties, TO repeat the service
hey rendered In 1875, by the elec-
loo OF Governor Hayes, Ia check,
ng the wave Of imitation that threat.
ned the country.
puR SONS OR AMRRIpA ,