davidaulloa/AmericanStories huggingface dataset:
People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1892-08-26
THE GRESHAM LAW.

The gentleman from New York
I Mr.. Cochran and others, have re-
ferred to the Gresham law, but not
one Of them seems to have grasped
the true principle involved in the So
called law.
People speak Of the Gresham law
very much as they would Of the
cholera, yellow fever, or small pox.
One would think it was a sort Of
financial pestilence laden with dis
honor and death. What is this dread
full thing? In order to determine
just how far it will apply to the cur
rency under free coinage we must
understand the precise question with
which Sir Thomas Gresham was
dealing; and then we will be in po-
sition to consider the harm which
came from the operation of the law.
At the time that he conducted his
investigation the greater part Of the
currency of England was below the
limit of tolerance; that is, below the
legal weight. The full weight coins
had nearly all been melted down or
shipped abroad. Hence, the cur
rency was in a very bad condition.
He therefore laid down the maxim
that bad money drives good out of
circulation" But this is merely
loose generalization and far from be-
ing an accurate statement Of what
had really taken place.
Ia the currency of all countries
where coin has circulated freely for
long time there is always great deal
Of it that is light. This is produced
by natural wear and by various fraud
ulent methods, clipping, filing and
the like. 1t was so in England.
Now, if gold or silver smith want
ed q certain quantity of metal for use
in his art he would either purchase
bullion or he would utilize the heavi-
est coins that came into his hands.
The man who desired specie for ex,
port did the same. The effect was
to leave large proportion of light
coins in circulation as money. But
it is erroneous to say that the light
coins " drove :" the heavy ones out Of
circulation. There was no "driving"
about it.
The heavy coins were not melted
down or exported merely because
they were heavy, but because GER
tain quantity OF gold or silver was
needed for those purposes. 1t was
not case of antagonism between
heavyweight coins and light ones
it was matter of commercial neces-
sity. Had there been no light coins
in the realm there would have been
just as many melted and exported,
but in the latter case the coin remain
ing in circulation would have been
equally good.
WHAT WAS THE HARM?
AS long as the light coins circu-
lated at par nobody was injured.
But as the abrasion and the sweating
and clipping increased, a point was
finally reached in the life of each
coin when somebody would refuse to
take it at It's nominal value. Then
the holder was subjected to a loss,
People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1892-08-26

300 years before it was demcne-
tized. So much is being said about
the overproduction of silver that it
may surprise many people to learn
that silver, relatively to gold, instead
OF having enormously increased, has
very greatly diminished. When
America was discovered the quaint
ty of silver In Europe was forty times
as great as the quantity of geld.
| am speaking of the metals by
weight. From that time until the
year 1900 the quantity of silver ex-
ceeded that of gold in the proper
ton of at least As to 1, taking the
period as a whole; and fer a large
portion of the time it reached go or
% to l, never falling below 80
to 1.
In 1903, according to the En-
cycopedia Britannica, the annual
production was So to 1. From 1900
to 1910, according to DR.. Soetbeer,
the product by value was in the
ratio of 77.2 to 22.8, about 50 to l
by quantity, while Dean Horton
states that in 1910 the total quaint
ty by weight in the hands of man
was about As to 1. The quantity of
gold then gradually increased until
1850, when the relative quantity as
given by Mullhall was 80 to /. So
that from 1892 down to 1850, three
hundred and fifty eight years, she
weight of silver never exceeded that
of the geld less than 80 to l, some
times reaching, as I have said,
65 to 1.
In 1885, according to Mullhall
again, the proportions of the two
metals were 10 to I, the change
having been brought about by ire
mendous yield of the California and
Australian gold mines. Other in
vestigators estimate the relative
quantity at Is to l, and this seems
to be just about the relation of the
gold and silver CONS. Now, if
France could sustain the ratio of 49,
in the face of supply of As, how
much easier ought it to be for us to
sustain the ratio of 16 when con
fronted with a supply of very nearly
the same ratio.
It is said though that silver has
increased greatly in quantity since
1879. True. It has rAore than
doubled in annual production, but
the aggregate quantity relative to
gold in 1885 was, as l have stated,
froa 16 to 10 to /.
Short periods Of production are
an unsafe guide, because the
precious metals have always beer
produced by spurts. From 1850 tc
1870 the production of gold inoreas
ed nearly 400 per cent, but oper
mints absorbed 1t, and there was M
appreciate fall in value.
People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1892-08-26
CHANGED CONDITIONS.

It is urged, though, that, con-
ceding force Of the action of France
prior to 1873, conditions have
changed; that neither France ner
any other country could have main
tanned free coinage with one metal
80 per cent below the other.
That is true. If, while the minis
were open freely to both metals on
equal terms at a certain ratio, they
had gone apart 80 per cent, the
coinage of the dearer metals must
have stopped.
No silver advocate denies that
proposition. The trouble with the
suggestion is that it is another case
of inverted logic. The cart has
been put before the horse. 1t as
sumes that silver has fallen 80 per
cent. through natural causes, and
that therefore the minis are closed
to it, while the truth is that the
minis were closed first, and that
silver fell as an inevitable result.
If we are to consult natural con-
ditions only, it ought to be very
much easier to maintain the ratio
new than at any time for
People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1892-08-26
EFFECT OF FREE COINAGE UPON THE

EFFECT OF FREE COINAGE UPON THE
CURRENCY.
Ny friend from Iowa, Mr.. Dol
liver, wishes to know whether this
viii be depreeiate the currency.
The $40 cents" that is talked of
so much here as the value of the
silver dollar is merely the price of
the uncoined and uncoinable bullion.
After we establish free coinage,
will not that silver possess every
quality which it possesses now, and,
in addition, the power of paying
debts? Hence, it must be more
valuable than the uncoined bullion
of today. My judgement is that
the first effect will be to bring silver
bullion and silver coin in an ahso-
lutte parity. Then the silver coin
having exactly the same functions
that the gold coin has the silver coin
and the gold coin will have the
same value with reference to each
other. (Applause.)
But the restoration of silver to the
position of full standard money will
multiply the number Of units of
standard money, and thus bring
down the value of every dollar both
gold and silver. Just how much
of course no human being can tell,
because questions Of this kind can
not be solved upon mathematical
lines, but that is my theory. ZAP
plause.
Mr.. Deliver. How far does the
gentlemen think this proposed leg
islatlon will expand the volume Of
the currency?
Mr.. Bartine. I do not think it
would add very much to the number
Of dollars except as by taking the
bullion at its coming rate instead of
It's bullion value, we would get this
difference into our currency. The
report Of the majority shows that
this difference would be about $22,-
OOV3OOO3 OuO CuC cu0CU ON0EIOdCu0S
that completely. By the legislation
which de4nonetized silver it was re-
duced to the grade OF token money,
not only in America, but in Europe
as well. Now, if we restore the
silver bullion to a parity with the
coin, ipso facto we substantially re-
store the character and value Of
silver money, not merely in our own
country, but all over the continent
of Europe.
At the present time every great
banking centre looks to It's
gold reserve as the support of
credit, and it is estimated that
nine tenths of the business of the
world is transacted on credit basis
At this time there is about $780,
100000 of silver coin in Europe and
America. If it is no longer a sup.
port of credit it has been deprived
People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1892-08-26

Concluded on sixth pate.l
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1892-03-03
Our Wonderfully Complete Stool

Will make friends, out-shine rivals, win
victories. and sell itself on its merits every
time.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1892-03-03

comes 20 me as a voice from the grave.
VIII you read IL. too?"
What q charming epistle II Isl oh,
Kate, you have indeed lost friend in
this man." Miss ljalderstonc calculated,
as her eye ran hastily over graphic de-
scriptions Of life in an Indian village,
amusing gossip concerning mutual ac-
quaintances, and occasional words of
tender solicitude and gentle admoni-
tions. with here and there a clever pen
and-ink sketch Of some grotesque figure.
But in the very midst Of reading,
Miss Balderstone made a dead pause,
looked for moment with a puzzled ex-
preston at the page before her, and
burst out with little cry of surprise.
"Why, Kate. child, the date Quick,
give me IIonoria Ordinances first letter TO
you. All, | thought SO. This Is indeed
the strangcst thing | ever saw"
"Oh, what is ~" Kate cried, with
fcverish anxiety, as the schoolmistress
paused in her hurried CALCULATIONS and
sat gazing with blank look at the
two letters before her.
Am out Of my senses, Kate
Grahamc. or docs that woman really
write that Sir Harry died at Kistmun
on the 9th Of january"
"Sihc certainly does say so.' the girl
replied. with round, wondering eyes.
And this letter Of his is dated the
tenth Of the same month. Give me the
envelope that may see the postmark.
hank you. my love; but | am afraid
This Is not Of much help 10 us, for the
.Hrlicst stamp upon IL Is that Of the
post Office at llyderabad, dated January
81, and we must make allowance for its
coming down the mountains probably
by native carrier"
Perhaps he misdnted his letter."
Kate said, white with suppressed ex-
citcment, "or, Miss Grahame may have
made n mistake"
"llc may; but the letter could not
have been written long before his DEATH
and you see that he says nothing about
his illness. Do you know n Jungle
fever Is II protrncted or quickly con-
suming disease, Katc?"
"Oh, yes; II prostrates men very sud
denly and they often die in n few days,
but II they manage to get TO the pure
air Of the mountains they generally re-
cover"
(Which Sir Harry did; that is a con-
fcssed fact. AS for llonoria Grahame
making a mistake. We can soon set that
at rest, for the Illustrated London News
has a long obituary notice and there
would be no blundcr there"
And the ladies found in the columns
Of that popular journal u full corrobora-
ton Of Miss Grahamc's statement that
this distinguished officer breathed his
last ut Kistmun on tie 9th of January"
My dear" said Miss Baldcrstone, II
do not think | shall go to Brighton to-
day."
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1892-03-03

INTERESTING PEOPLE.

Gladstone delivered his maiden speech
June 3, 1883.
Charles Gaylor, the dramatist has pro-
duced 23S plays since lsI9.
Prof Virchow OF Berlin has published
l2j volumes of his own works
Mr.. Bafour, the new leader OF tho Com.
mons, Is II highly accomplished pianist and
violinist
Ephraim W. Bull, who developed the
Concord grape nearly fifty years ago, Is
still living near Concord, Mass
ten. Reynolds, who was killed at
Gettysburg has memorial at the now city
hail in Philadelphia ind there will soon
be one OF Gen. Mcclellan as companion
piece.
Tho widowed Baroness Rothschild, Of
Paris, has so extensive "a circle OF ac.
quaiutauccs that she is said to know
q elybody worth knowing on three con.
tinents."
The khediye Of Egypt neither smokes
nor drinks, and though allowed many
wives has only one. lie is very learned
In Arab, lore aud knows the Koran 80
thoroughly that no cun recito it from
memory.
Jenny Lind Goldschmidt's memory win
he kept alive, among othor ways 10y a
musical scholarship TO establish which a
Ia go number OF eminent artists have
agreed to take part In a concert which
will he given in LOnton.
MIR. John fotts, German resident OF
Sarepta, Calhoun county, Miss, died
recently at tho reputcd age OF ll3
years He moved into that county while
II formed n portion OF Lafayette county,
about forty years ago, and was then con
sidered an old man.
1 RrrutheIs, Scotch editor. looked so
much like 1hackeray that upon ono oc.
cnsion when Carruthers ca led upon lhack
cray tho maid who met him at the door
laughed in his face because she thought
her master In a ut OF observation-disclosures
had come home aud asked Tor himself
A group Of men who meet almost daily
at ian, h In tho cafe OF tho Chi ago c ub
include, Marshall Field, Potter "a NOR aud
l., II. Letter, who be gan ife rs clorNs In
Try COOL Is stores AMI a now among the
wea thlOst citizens OF III, ago George NJ
Pullman and 4, ID. Armour lunch ut the
same table
he most remarkable official career In
the history OF the United states was that
OF JOhu Quincy Adams II extended
over forty-eight years and embraced III.
teen years In the diplomatic service as
minister to nussia russia and the Meth .
erlands five years us senator eight years
us secretary OF state, four years us prcsi.
dent and sixteen as a representative in
| congress
! The late President Greyy, Of Fran O.
| was great coffee drinker On one ucca-
sion Icing forced to stop over night IN q
/ peasants tnlin, he said to the host l
wsi to know II yod have any cuicofy."
! A. he replied in the Affirmative, Grevy
ordered the peasant to place it before him
/ The man oheyed. Have yoa any more %
| again asked the statesman "A very It.
| tie bit replied the peasant Bring mo
that, came the command Is this all
you haye" again queried Grevy, survey
ing tho second install ment. Il have not
another bit in the house, was the answer
NOW, said the ex president, begin to
make my coffee. As you have no more
chicory, | am certain that the colee will
he pUre.n
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1892-03-03
UNUSUAL OCCURRENCES.

a bicycle race from Paris to Brest and
return, distance Of i45 miles, has been
won 10y NJ Terrant In ffy -four hours
Mr. Sucques recently completed II fifty
duys's fast ut tho Royal Aquarium. Lon
don. His decrease in weight was twenty
pounds.
The Cornth miss Herald tells Of n
man in its state namel Philip Henson who
had n beard ten feet long, but who found
II so inconvenient and unc onfortabe that
recently he cut 1t oil.
There IRE records OF elephants that have
lived for 200 years, and an age Of 100
years " not regarded as very old for an
elephant 1t takes about n quarter of
century to get an elephant to full ma
tuity.
This story comes flomo Maine: A farm
or OF Cornish, on his way home from shop.
ping ut the country store, di q, ped n sheet
Of sticky fly PAPER and the next morning
a large brown snake was found stretched
over the sticky surfu o. making n desper-
ate effort TO gain its freedom.
ID. II. Dickinson, Deep river. Con
necticut, farmer found IA package OF 100
thousand dollar bills In n corner Of
his barn, where II had lain for many
years. He sent the Hills 10 Washington,
and the Treasury department returned
them TO him pun' he'd full OF holes and
marked counterfeit -
story comes by cable from London OF
the extraordinary leap being male daily
by mau named Miriam Nigg who jumps
2O1 feet, from the top of the Aquarium,
nnl lands on his feet ON tho bare floor.
lie wears .he costume Of an American In
dian, and his rapid descent Is broken by
some patent arrangement invisible to the
audience.
In Gray's harbor, Washington the peli-
can Is a common sight Capt Bergman,
OF the steamer Typhoon, shot two OF the
birds, and in order to nd out how much
water the pouch Of this bird would hold,
he cut OF the head of one Of them and
tied a string tightly about the neck.
Water from faucet was allowed to flow
In and whom the pouch was filed con.
tained six gallons
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1892-03-03
HUSBAND AND WIFE.

'Blusher is the most bashful man ever
know well, how on earth did he ever
come to get marriedi' 'Ho was too
bashful to refuse. Puck.
Some Of the admirers Of Mary Ander.
son'Nnvarro are complaining because she
will not return to the profession she
adorned. These people evidently look
upon Mr.. Navarro as a stage robber. -
Boston Post
"l'm sorry you don't like the new
nurse, she said to her husband. 'She 10
so good about singing to baby and keep
ing him quiet" "Yes, was tho reply,
that's Just IL; Id rather hear tho baby
cry. Washington Star
Scotch maidcns are often exceedingly
scrupuous in regard to their department,
but there was one who believed tue rule
of good behavior might he drawn too
strict On her marriage day her low er
said, abiding to tho fact that during their
courtship he never had lissed her; 'Weel
Jenny, haven't ! been uncOs ceevili"
"Ou, ay, mon, sensoless ceevil." was
her smart answer. detroit free Press
Hmm said Mr. wi kwirs here's a
great story in this paper. t appears that
a man advertised for boy, and the same
day bis wife presented him with twin sons.
II that does not show tho value OF adver-
Using what does It showp' lit shows
that IL he had conlided bis business affairs
to his wife, as a man ought to- he might
have saved the expense Of the ad yertiss-
ment," answered Mrs wick'yire In.
dianapolls Journal
Rodney Bates Is a sportsman OF more
enthusiasm than erperien g He had good
luck one day last summer while fishing up
In the Maine woods and his Joy overlooked
In a telegram 10 his wife like this; 1--WE
got one. Weighs seven pounds and is a
beauty" In reply came the following,
signed by Mrs. Bates; so have /
Weighs ten pounds He isn't a beauty.
Looks like YOU It was more than ten
words, but Roddy forgaye her --Bost on
Post
Codling-"Look here, Mawler, you pre-
tend to DO realistic painter, and yet In
this picture you have a stream in oil col.
ors instead OF putting 1t In water colors. -
Mawler-"Thats all right, Cooling The
stream in that picture is Oil creek, In We.
NANCY county, Pennsylvania. Brooklyn
Life
why don't you 20 to work, instead OF
leading the life OF a trampl Are you
lazyin she asked. Madam, II you had
ever been . tramp he replied, you
wouldn't ask that question, There is no
harder work In the world than tramping,
and, what's worse, thsre'o no money in
tAN-jndgN
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1892-03-03
RARE AND READABLE.

nv. At, a. 1900,
Az. noer Vi tns mescal plant OF south.
III AI.one Iounu 70 MAKE rope ano
, vmino VI sIeet sTenB'n anu o' aiinos' un'
"'-,''u e"uuia"ce
40 SLOW ,ne grown hade IN tne inuus-
~ VI iuI n,snnB Ninuhs Mooui y sln ing
900 ~. ~ ana 'ui"S ou' oiVVV'
WV ou"uio' PVT nhon'n'
10 build one OF the monster ll2'ton
guns requires about as much time as II
taxes TO build the vessel which carries It.
iS eVs' ~ aDOu' sivV'VVV'
more than one-balf OF the tin the world
produces comes from the Malay peninsula,
where IL Is mined by Chinese IL is found
In pockets from twenty to thirty feet be-
low tho surface
The consumption Of beer in this country
last year was 700, 900 900 gallons. In the
same period the consumption OF the same
article IN England was 551,OOO,OOO gallons
and In Germany b25, OOO,OOO gallons.
In Hungary, where the railways have
not been paying, the fares were reduced
from 40 to so per cent, and in consequence
the number Of passengers rose from 2, OOO.-
600 to 1000, 900 and the receipts Is per
cent.
The agricultural bureau in Washington
Ia devoting much time and care toward
cultivating the bamboo OF China. IL is
the most useful variety Of that class of
vegetation known, and its uses enter into
almost every industry in China.
Mr.. Nathan uarris NJ Rich v.llsv Y.
has n daughter ninste.n voors old ,ybo "a
only two feet ton incbes In bsigbt and
weighs inst forty ami a balf rounds sba
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1892-03-03

whom she hated with all the virulence
OF Internationally years of unapprcciati
I'd womanood For the worst Of IL
was that not onc-fourth Of the bache.
Tor eccentric barouct's estates were
entailed. and II was quite In his power
10 rob his natural heirs OF the bulk Of
his fortune and leave II 20 this waif;
nay, he had even gone so far MS to noti-
~ his rclativco Of his intention to do so.
Meanwhile. OF course, the Young lady
wus q person OF consideration. Miss
llonoria lnvishcd ugou her those super
fuous affections which q cold world
had never rightly cBtimutcd, and Lady
Scarborough. having rcd-hcuded,
knock-l;nced ron. two years Kntc's
Junior. dreamed of the possibility Of
kcsPing the fortune In the family utter
nil; 60 her worda TO the orphnp girl
were GlwNya swccter than honey,
II was Kate Cruhnmc'R last hnlf-ycnr
N aShcol. IN another wcclt mo would
begin to taEc her lace In the gay
world, and oven ROW Hiss llnldcrstouc's
young ladies were discussing the dress
she would wear when the countess of
Scarborough presented her to thu
queen. In addition TO all these smiles
of fortune, Kate Grahame possessed
great personal beauty and disposition
30 swcc. that She was the idol Of the
Baldcrstone household. from the gentle
schoolmistrcss herself down to the boy
in buttons, who worshipcd the young
lady from nfar us some being ever
more glorious than the radiant fairies
he had seen in the pantomine from the
gallery ut Drury Lane theatcr
The mornings task was over, and the
girls were preparing for their usua
promenade in the park, when groom
wearing the Scarborough livery
dashed up to the door and handed tn,
neat maidscrvant n letter for Mis-
Baldcrstonc which he asserted require,
an immediate answer, and then, IA /
struck with an afterthought, produced
another addressed TO Miss Grahume.
The schoolmistrcss' brow clouded a
she pcruscd the lines addressed TO her
Lady Scarborough presents her kline
regards to Miss llalderstoue and woul'
he exceedingly obliged II she would cal
upon her this afternoon at three o'clocl
20 meet Miss Grahame and discuss
sastiAr Of tho deenest conSeauslee:s'
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1892-03-03

MISS BALDrnsToEE MAKES DIscovERr.
OF course in high-class establish
mcnt like Miss Balderstone's there were
no vulgar displays at the end OF the
half year, no drcss-parade Of the pupils,
no commencement day-the school
quietly dissolved without fuss or frolic,
and when the last "ny" had carried
away it's load Of happy girls. the mis-
trcss usually attended TO the packing Of
her own trunks and hicd herself away
20 the seaside or on a tour Of foreign
travel
This half-year the accustomed pro-
gramme was 10 be followed, but she
found herself making her preparations
10 depart with but half the usual elias
ITCHY Of spirits which gladdened her
heart on the eve Of vacation. The
fact was sweet girl-face, pale and
tenr.staincd, pcrpctually haunted her.
True, She had done her best 70 relieve
the poor child's sorrow, even 10 the OK
tent OF engaging rooms for her and
Mile. Helene Campignon, the French
governess, In u pretty farmhouse on
the banks of the Thames near Chertsey,
but madcmoiscllc was on the shady
side Of fifty years OF age, and she felt
that the young girl needed the conso-
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1892-03-03

Fancy and Staple Dry Goods, Dress
Goods, Notions, Groceries, Ladies', Misses
and Children's Shoes, Mems and Boys Boots
and Shoes are all marvels Of popularity,
seasonable styles and fair prices.