davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22
THE LESSON OF EXPERIENCES.

Some of the advocates Of the free
coinage of silver by the United States
insist with the emphasis of infallibility
that as soon such, policy shall be
adopted the commercial price of silver
bullion will rise to an equality with that
of gold. Unfortunately for some of these
prophets, particularly those who were in
Congress in 1890, pending the passage of
the so-called Sherman act, they are on
record as declaring that that measure
would carry the price of silver bullion
to s129 an ounce, which would make the
bullion in a silver dollar equivalent in
value to the gold in the dollar of that
metal. These predictions were as conf
dent then as now. and some of them
may be found in the files of the Congress
sional Record. BY the Sherman act,
which became law July IA, 1890. the
government absorbed 54,000000 ounces of
silver bullion annually. This amount
was very near the product of the silver
mines of the United States during that
period the output in 1890 being 54,516, 800
ounces. $3.50. 900 ounces in 1891, SO, 500. 900
ounces in 1892, and 60.000.000 ounces in
1898. Moreover, the amount absorbed by
the act of 1890 was equal to about SO per
cent. off the worlds product of silver
during these years.
What was the effect on the price of
silver bullion? In January, 1890, silver
was worth 97h cents an ounce. In
March it fell to 96 cents, but, anticipating
favorable legislation, silver spectators
forced the price up to $1.001a toward
the last of March, to $1.05 in April and to
$1.0S in May. The act became a law
July H. and in August the price rose to
$1.15- Sept. an ounce of silver bullion
was worth $1.21. and it looked as if it
might reach $1.2s. 1--WE told you So"
shouted the advocates of free coinage by
the United States alone The Sherman
law had then been in force two and
half months, and there was no opposi-
ton to it-no threat of it's repeal. From
the high-water mark of $1.21 the price
began to decline, falling to $1.09 in Octo-
Der and to $1.06 in December, 1890. Dur
ing all of 1891 there was no talk of re-
peal, but at the close of that year the
price of silver was 94N cents an ounce, or
~ cents an ounce less than it was in jan
uary, $780, more than five months before
the passage of the Sherman bill During
the prosperous year of 1892 the price of
silver July 1 was s75s cents an ounce-a
date when the indications all pointed to
Republican success. Thus it appears
that after the Sherman law had been in
force nearly two years, by which the
silver production of the United States
had been absorbed by it's provisions the
price had fallen from $115 in August,
1890, to s7M cents July I. 1892. or 27ss
cents an ounce. From the highest point
that silver reached under the impetus of
the Sherman law. the white metal had
fallen 1895 cents an ounce.
In view of such facts can any un-
prejudiced and sensible person believe
that free coinage in the United States
alone would carry silver from Satur-
days quotation of 66A cents an ounce to
s1.29, which must be its price when the
silver dollars value will be equal to that
of the gold?
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

as such figures can show that, In
consideration Of the last three heavy
crops, and particularly the unprecedent-
ed crop of 1894. about two million
bales were in sight in excess of the guam
tity required. A few weeks ago the
price of cotton began to advance in the
face of these facts. No one has yet dis
puted them, but, without figures, it has
been asserted that there was such new
demand for cotton that there could not
be such surplus as has been stated. 1t
does not seem possible that there could
be such a mistake about the stock of
cotton, as it is a commodity which can
be more accurately estimated than any
other great staple. Nevertheless, prices
have been advancing, and the advances
have been sustained. AS a speculative
rise, if it is such, there must be power
full combination to bring it about.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22
WILL DEVELOP CHINA.
Japan's Triumph is Certain to Mod
crnize the Ceiestinls.


Washington Correspondence Chicago Post
II peace is established in the far East
on terms acceptable to the Chinese envoy,
LII Hung Chang, China will presently enter
viii be even more sensational than that
which has transformed Japan from be-
nighted heathenism into one OK the fore.
most nations of the world within q brjef
period of twenty-five years, Ii HUNG
Chang may die at any time. but his teach
ings and his ideas have found deep lodg-
rnent in the minds of those who hold dear
est the future of the celestial Kingdom.
1t mas been said of the peace envoy that
he is the greatest statesman China has
produced in five hundred years. The claim
is probably true He has watched with
the great Stride made by Japan, and has
struggled with only partial success TO In
d,lce the slow-movng Chinese to emulate
the example set by the enterprising island
with China for the last. quarter of cent
ury. She has been taking advantage OF
ali the progress in the art of war that has
has sent the best blood of the country to
the schools of Europe and America for
the sole and only purpose OF adopting the
most advanced IDEAS of civilization for the
overthrow of a nation which has for two
thousand years threatened the existence
nificent and savage purpose that inspired
the indomitable. Japanese 1t was the
been nourished for centuries.
Now viii come china's time. Ten years
ago ii hung 1lfdH- 1pDldfltl LOT scutui
some Americans and Europeans valuable
concessions for the opening up OF China's
British banking interests in China and the
orient, aided and abetted by the native
prejudices. these many ambitious projects
ii is that China is ripe for embarkation
in an era of development by the side of
which that started decade ago will APP
pear almost infantile. Ten years ago the
Vanderbits. the Philadelphia clique.
aided by Wharton Barker and a
strong combination of Hebrews in
London and New York organized to back
concession obtained from the Chinese gcs-
China 10 build railroads and steamship
lines and to establish great national bank.
Owing TO the alleged shady character of
one OF the promoters of the scheme theFdeal
fell through. The late Col. Elliott r. Shep-
ard was deeply interested In the enterprise
and II is believed that ST he had lived the
deal would have eventually been Aarried
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22
Senator Blackburn. of Kentucky, il

Senator Blackburn, Of Kentucky, in
his silver letter, says:
1 agree with Daniel Webster who in his
day and even to this day was and is sill
held to be something Of an authority as a
constitutional lawyer. He declared that the
Constitution of the United States made gold
and silver the redemption money of this
country, and that neither Congress nor any
State had any rightful power to substitute
any other nor to destroy either the one or
the other of these metals.
This statement of Daniel Webster's
position is as inaccurate as many other
statements in the letter of Senator Black
burn, who, by the way, has talent for
inaccuracy. The question of free silver
coinage, or of bimetallism in any form,
was not discussed in Webster's time.
The question in his day related to the
right of Congress to make treasury notes
legal tender for all purposes, and this he
opposed. In his speech on THE Specie
Circular" issued during President Jack
sons administration, delivered Dec. 81,
1886. Mr.. Webster said:
Most unquestionably there is no legal ten
der, and there can be no legal tender in this
country under the authority of this govern
ment or any other, but gold and silver,
either the. coinage of our own inints or
foreign coins at rates regulated by Con-
gress. This is a constitutional principle,
perfectly plain and of the very highest i'm
pOrIdnce- Inc SolateS are expressly pTOHlD-
tied from making anything but gold and
silver tender in payment of debts, and
although no such prohibition is applied to
Congress, yet as Congress has no power
granted to it in this respect but to coin
money and regulate the value of foreign
coins it clearly has no power to substitute
paper. or anything else but coin. ten
der in payment of debts and in discharge
of contracts.
This is simply an amplification of the
constitutional provision that no State
shall make anything but gold and silver
coin legal tender, with an inference that
even Congress had no right to do so.
There is nothing in Mr.. Websters words
to justify Senator Blackburn in trying
to conjure with his great name in favor
of the free coinage of 55-cent silver dol
lars.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

shrough along original lines. Ills. death.
however, put quietus on II. Within the
last thirty days the emissaries Of not less
than n dozen strong combinations of capt.
talists IN this country and In England have
started for China to obtain concessions lat
termed as nearly as possible after the Mit-
klewiecz concession referred TO above. They
have been given encouragement to go on
these errands by the altitude OF what lis
believed to be ,Sie ruling influence In China
The result On the war with Japan has
been deeply humiliating TO the Chinese.
who. with their enormous resources, have
been utterly helpless I'm the hands Of the
Japanese Like the crafty, revengelul peo-
pie they are, they began plotting revenge
even before they had fully determined TO ac-
cept the terms of peace offered them by
their conQucrors. They are patient race
and viii. IL necessary. walt nifty years 10
prepare themselves for the overwhelming
OF Japan. When they are ready 10 strike a
pretext will be found without trouble. In
the m sdntirne vast and almost unknown
field of enterprise win be opened TO Amer
lea. Fabulous fortunes await the men OF
this country who have the courage. the
brains and the capital to execute the mis-
sion which China calls upon them TO per-
form. The natural resources of the fsowery
Kingdom are beyond computation. The field
will attract the brightest and best men OF
the age, and unless all signs are at fault
the history of China for the next fifty years
will be marvellous.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22
THE GEORGIA COLONY.

The Georgia colony scheme, organized
In and operated from this city, presents
some interesting features Briefly stated.
it contemplates the purchase and settle
ment of 100000 acres of land in the South
with emigrants from this and other
Western States, who will proceed imme-
diately to improve the land and make
homes. The company is organized un-
der the laws of Georgia on the mutual
stock plan, with $4,000 shares of $40
each. A majority OF the stock has been
taken, and the company has contracted
for tract of 100000 acres in Montgom-
cry county, Georgia, which was visited
and favorably reported upon by COM
mittee appointed for the purpose. 1t is
proposed to lay off the entire tract into
farms of from five to one hundred acres,
of which alternate farms will be allotted
to members and the others retained by
the company After one thousand fam
lilies have been located the company will
begin to sell it's reserved lands TO nom
members. who. of course. will be
Charged an advance on the original price.
The financial part of the scheme is out
lined in the prospectus, as follows:
No person will be allowed TO take over
ten shares. If family is composed of
father and one or more sons. it would be
We'll TO nave a share or so issued to each
child. After the small sum each certificate
costs is all paid in, will have on hand
S5Uu,U0V. From this fund we will purchase
and pay for the first 100000 acres of land,
which we estimate will cost us 100000 We
still have on hand 900 to use for improv-
ing our town and building few business
houses Say we use for this purpose $4,000
the Colony Company will own the buildings
and still have $io0,0O0 of our original money.
We then add TO ii from time to time the
money We receive from sales, at market
the town lots, the price IF which must in
crease very fast, that by the time we
have sold out our reserved lands and town
lots, we have several hundred thousand dol
lars TO divide among the original members.
The scheme is free from any commun-
istic features, and seems to be organized
on business basis and to aim at legiti-
mate results. Il contains the possibili-
ties of success, and, it must be added, of
failure also. The part of the South
where it is proposed to settle presents
many attractions of soil and climate,
and it is quite possible that Northern
enterprise and thrift may build up a
prosperous colony. Yet such schemes
are apt to encounter unexpected diff
culties, and rarely work out according
to the original plans. The Journal
knows of no special reason for distrust-
ing this one, and cordially wishes it sue
cess.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22
ABOUT PEOPLE AND THINGS.

Charles B. Lewis, better known as IN
Quad, will resume in May his editorial
connection with the Detroit Free Press.
Mrs. Levi p. Morton is to be editor-in-
chief of the woman's issue of the Albany
Argus, which will be published next Thurs
day. Mrs. Erastus Corning will be the man
aging editor
Amelia Rives-ChanIer has lost her syph-
like proportions and is said to be growing
stout Mrs Chanler recently visited San
Francisco, where she made the customary
trip through Chinatown and then departed
General Martinez Campos, who has been
sent over from Spain to subdue the Cuban
instruction, is sixty-one years old. He has
been an officer for nearly forty years and
during half that time the first soldier of
Spain.
The chemist Bunsen, famed for his dis
coveries in spectral analysis and hundred
other scientific matters, entered on his
eighty-fifth year March 81. He gave up
teaching five years ago, but still lives at
Heidelberg in the best of health.
1t is worth noting that the Bank of
England has fewer notes in circulation
than it had fifteen years ago. and the total
active note circulation of England is hardly
greater than when the act of 1884 was
passed. Bank notes are much less used in
business than formerly.
The Outlook says an american who was
recently travelling in Europe visited the
Vatican and asked to see the cattle pens.
The attendant was very much surprised and
said: Cattle pens? Why we have nothing
of the sort signor." The response was:
where in the world do you keep the Papal
bulls2'
The late Professor Bishoff, of the Univer-
sty of st. Petersburg, left a sad memorial
of his greatness. He had opposed the adj
mission of female students into the univer-
sity on the ground that woaans brain.
being much smaller than mans. it was
not fair TO put ner on equal footing with
her superior When Bishoffs brain was ex-
amined it was found to weight less than the
average wornans.
Bismarck is older man at eighty than
Gladstone at eighty-five, and is no more
intellectually alert than Pope Leo, whose
eighty-fifth birthday came this month The
Pope Is strong man mentally, but feeble
physically. Gladstone is strong in mind and
body. Bismarck says that he is not equal
to appearing in the Reichstag. but Glad
stone is planning a speech in the Commons.
and 10 take some part In the coming Pariia-
nlentary campaign.
The gold mine said to have the largest
output Of any in the world Is the Little
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

Johnny" of Leadville Col. owned by John
+. Campion. He went to Leadviile and took
up the Little Johnny" after four other
miners had abandoned 1t because they could
not find trace OF carbonatcs. When he
was poor prospector, two years ago, he
became acquainted with a school teacher,
Miss Nellie May DAILY. He could not marry
her because he was too poor, but with an
income of 100000 a year, which he now has,
that obstacle has been removed. and they
We're married in Denver on Monday last.
He has ordered the construction of & resi-
dence there to cost 100000.
Johnny fools his parents
It's very sad TO state
They think he's making garden
When he's only digging bait.
Washington Star.
In Judgment now daily err,
AS cycles past me whirl;
/ gayly call Good morning, SIR
Then find it was girl.
Judge.
They sat together in the shade,
His arm about her waist;
kiss me goodby,' he softly said,
Il must away in haste
ooh. can't you let your duty waltz
She said in sweet distress:
"Oh. say you were engaged till late
On-er-pressing business.
BROOKLYN Life
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

tenths Of the people Of the East have be-
come bimetallists. they continue mono
metallists, and. it may not be unfair to
say. TO maintain quasi claims of infalli-
bility of judgment. Since the question
was raised in this country. in 1877, near
ly all of the most prominent men in pub
lie life in the East have changed from
the gold standard to international BIZ
metallism, but the teachers of economies
in the larger universities adhere to their
first declarations, whether in Harvard or
the University Of Chicago. One has only
to look through the textbook on politi-
cal economy prepared by the late excel
lent Rev. DIR. Wayland, which was the
standard work economics before the
war, to be struck with the dogmatic as
sumptions which, in the light of present
achievements, are absurd. Because of
such insistency and mistakes the expert
ence of years has led practical people to
distrust the theories of the college spe-
cialist in the realm of practical econom-
les. and, without discriminating between
their dogmatism in the field of econom-
les and their research in the domain of
history and science, they pass them by
with indifference. This lack of conf
dence in the rather dogmatic methods of
the professor of economics, with his I'M
intended but nevertheless offensive as
sumption of intellectual superiority, If
not infallibility, may not be the leading
cause of nonappreciation of university
extension, but it is one of them Indeed,
the very fact that so much of the eco
nomic teaching of schoolmen has proved
to be unreliable may have led the
masses to hold the wisdom of the schools
to be not worth acquiring 1t is unfor-
tunate that it is so, but limited inquiry
will show that such is the case.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

The Louisville Commercial estimates
that at least 100000 visitors will be in
that city during the National Encamp-
ment of the Grand Army. and that the
average expenditure will be $40 per
capita. AS to numbers the estimate is
not too high, since Indiana will doubt
less be there $4,000 strong. The COM
pensation, however, is not the money re-
ceived. but the acquaintance made,
which will tell In the trade of the city in
the years to come
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

London Sa tlfday Review.
Gen. Martinez Canpos, who ianguishes
neglected in times of peace. but is always
brought to the front like miracle-working
relic when Spain is in trouble Is to proceed
in person TO put the rebellion down. He has
had the task on his hands twice before. and
has, indeed, spent quarter Of his whole
long military career In Cuba IL does not
add to the prospects of bis success now 10
instruction to an end In 1879. II was done,
not so much by force OF arms. as by max
ing pledges of reforms and home-rnle con-
cessions which the Spanish Cortes after
ward fatty refused TO fulfill.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22
The SeoueI.

OF an old and noble foreign house,
He was the eldest Sun;
She, just a plain American
But then she hat the Mon.
Love, why should we be longer Tue?'
One eve he softly said.
She saw no reason why they should
And next week they were Wed.
Indianapolis Journal.
But when he came to bde wi Thur,
Tho bravely he did try,
He couldn't masticate bit
That she would bell or Fri
So they introduced lady cook
Into their coy flat.
Who bossed the woman of the house
And on the husband Sat.
New York Recorder.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

OF the Republican Senator'S In the
Minnesota legislature. all those who
gave opinions are opposed to the free
coinage OF silver by the United States
alone, and most of them favor interna-
tionai bimetallism. In the House 81 Re-
publlcans were against free coinage by
the United States and In favor while
"A were in favor Of an international
agreement. The Democrats. as far as
interviewed. are opposed TO free coinage
here. The prevailing sentiment is in
favor of International action.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

Walters trial and conviction by court
martial was illegal. Then there Is the
question of his property rights. If, as is
probable. the French authorities in Mad
agascar have dispossessed Waller of his
valuable land grant. 1t may become the
duty of this government to demand its
restoration or adequate reparation. AL
together, the case is likely to develop
number of complications.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

writer in the North American Re-
view estimates that the people of the
United States pay an average OF $780,
Oo0, 900 in fire Insurance premiums, while
the fire losses paid by the companies do
not exceed hale that sum. If this is so,
the people pay too much for Insurance.
This conclusion is borne out by the fact
that fire Insurance In this country costs
four times as much as in England, six
times as much as in Germany and
twelve times as much as in France.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22
.Eree~ j. the catchword.

Savannah News.
The word free" in the silver question is
the drop OF nlolasses that has attracted a
great many flies. Wipe that word out. and
the swarm about the fiy-trap would dimin-
ish rapidly and perceptibly The word "free'''
has a mighty power TO charm. II Is the en-
bodiment az the idea Of getting something
for nothing That idea has always been a
fatal one to people who have followed II up.
The hope and desire TO get valuable articles
tables. Green goods men play upon these
weaknesses and find the business very prof
al
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

In his last annual report Secretary
Carlisle estimated the deficit during the
present fiscal year at $2o,O000Oo. Up to
last Saturday the deficit had reached
s45.00o.O 900, and from present indications
It will be very nearly s6o.ooo.ooo by the
S0th Of June
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

The venerable Holman has not labored
to win the good will of the President,
and as there are a large number of
cucIxoos who are out in the cold, it is not
probable that the Representative of
the Fourth district will be offered bit
OF Cleveland comfort
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

The purchase OF the Chicago Times
Herald by Mr.. Kohlsaat is in the nature
of a surprise, but it indicates that no or
ganization of Democrats could be effect
"a tassaye to the party the services of
the one great Democratic daily in the
metropolis Of tile West
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

When the Democratic papers talk of
Vice President Stevenson as presi-
dental quantity it is needless TO proceed
TO remark that the organization is d.
vided and demoralized A hopeful and
united party would never consider the
Vice President in the light of presi-
dental candidate.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22

The conviction and imprisonment by
the French authorities OF ex-Consul
Waller raises number of delicate ques-
tions. 1t is a general principle Of inter-
rational law that foreigners temporarily
sojonrning in country are amenable to
lis laws. bur the United States may deny
that France has any legal standing In
Madagasca Again, even admitting her
civil jurisdiction, It may be claimed that