davidaulloa/AmericanStories huggingface dataset:
St. Paul daily globe., 1895-07-25
GOLD EXPORTS AGAIN.

If there is one thing more absurd
than another in the practical work
ing of our currency system, it is
that a nation of upwards of 65, 900, 900
people, with property valued at from
100000, 100000 to $4,000, 100000, and
with circulating medium of over
$4,000, 100000 in volume, should vex
its soul and fall into paroXysms of
anxiety when some firm of money
brokers in New York city discovers
that it can make a profit of $50 by
exporting 100000 or more of gold
Ever since the resumption of
specie payments, imports and
exports of gold coin and
bullion have ebbed and flowed ac-
cording to the movement of trade,
without attracting public attention
or creating public anxiety. Now,
whenever this happens, all sorts of
anxious queries fill the public mind
Is the bond syndicate willing and
able to fulfill it's obligations by keep
ing the rate of exchange at such a
figure that there can be no consider
able expectation of gold up till Oc-
tober L? VIII the pressure of the
market be too strong for it? If not,
what is going to happen to the coun-
try after Oct. 1, when the rate of eX-
change will once more be fixed by
normal conditions? Upset by such in
terrogatories, people keep their eyes
fixed on the treasury reserve and
the daily record of the gold move
ment, as if it were a matter of life
and death to the nation
This absurd situation which,
though ludicrous, may also work out
an lncalculable national damage, is
not the result of any change in our
stock of metallic money. It is not to
be charged to monometallism or BIZ
metallism. 1t has nothing to do with
the act of 1873 or the battle of the
standards. 1t is simply the culminat-
ing point Of our endless folly in pill
ing up issues of government paper
of one sort or another on the basis
of slender redemption reserve.
This is becoming evident now to
people of all shades of opinion on the
financial question. 1t makes no diff
ference what we may do about the
relation Of gold or silver to each 9TH
er in our coinage. 1t is our paper
money that must be taken care of.
Notwithstanding the magnificence
or our resources, the question of
our ability to discharge the nations
promise to pay" now stares us in
the face. 1t is a natural penalty of
foisting upon the federal treasury
the functions of a bank of issue. 1t
is the inevitable consequence of
putting out multiplying series of
national promissory notes until the
holders are compelled to. examine the
resources with which they are to
be redeemed. Anxiety about the gold
reserve does not arise from changes
in that reserve itself, nor in the
country's stock of gold, but from the
fact that we have pushed to the limit
the paper issues behind which it
stands as a security.
We can never be free from this anx-
iety and source of danger, our finan-
cial institutions can never feel them
selves safe from the shock of possi-
bic panic, imports and exports of
gold will never again become to us
St. Paul daily globe., 1895-07-25

ards in the Northwest has finally
awakened other lines to the fact that
these people are really very desirable
class of settlers. They are noted for
their thrift and success in farming
and are much sought after by lines
which have vacant lands within their
territory. Yesterday A. E. Jack, emf
grafton agent of the Northern Pacific,
arrived in the city with party of
seven Dunkards who came directly
from Indiana. They left last evening
over the Northern Pacific and will be
shown nearly all the desirable lands
along that line. While gone they will
remain under the personal charge of
Mr.. Jack, who will show them every
attention. These seven people are a
special committee from a large colony
of Amorites, branch sect of the
main body of Dunkards, who are sent
out to report upon the advisability Of
bringing out a large settlement to the
fertile regions of the Northwest, and if
they take back a favorable report
large body is to come this season. AS
this committee goes over the line just
at the beginning Of harvest, they can
not help but be impressed with the
vast possibilities of this section of the
country.
St. Paul daily globe., 1895-07-25

cents. The domestic price was 4.8
cents before the tax was reduced
and 3.S cents after it was reduced
a cent a pound. The $7,200,000 of
tariff profit" went into the pockets
Of the mill men This, added to the
tax that went into the treasury,
makes over $26,000,00O that the peo-
pie of this country have paid in a.
little over three years. for the ex-
pertinent of Mr.. Mckinley. 1t is
as we'll to "bear in mind" this fact
when one is invited to contemplate
the beauties of a protective tariff.
There is another fact that should
be kept in the memory alongside the
others. We have heard much of the
poor worlSingman" in connection
with this tin plate tax The makers,
the mill owners, have protested,
with all due JUNCTION, that they did
not want the tax for themselves,
but to enable them to pay their
let them maintain the true dignity
of American labor. In 1898 the
American Tinplate Consumers as
sociation, more than suspicious of
the sincerity of this pretense, ascer-
tanned the wages paid in seventy
five of the largest mills in Wales.
and of the same number in this
country. They found that in the
hot mills" (the timing mills) of
Wales the average wage was $4S75O
per annum, and in the United States
$515 per annum, a difference of $2750
in favor of our labor, or a trif1e over
five per cent. To protect" these
men and to pay "the difference in
labor cost" a tax that ranged from
60 to 100 per cent was imposed on
imports.
1t is well, then, that the tin users
of this country should bear in mind
and keep in lively remembrance
what they ''owe to the protective
tariff levied on their tin utensils by
Republicanism; how much they have
paid for it; how needless it was,
and how gross an imposition it was
on the workingman. Then when they
again get chance at the tariff law
they will undoubtedly put tin plate
with wool on the free list.
St. Paul daily globe., 1895-07-25
SCHEME FOR CONSOLIDATING
THE NORTHERN PACIFIC AND
GREAT NORTHERN
UNDER LAWS OF NEW JERSEY
by HAVING THE TWO CONIPA
MES ABSORBED By THE
NORTH AMERICAN
Project Said to Do Away With the
Complications Caused by
Minnesota Laws
Special to the Globe.

Special to the Globe.
NEW YORK, July 24.-The pro-
posed consolidation of the Northern
Pacific and Great Northern railway
properties is taking definite shape,
Notwithstanding the failure of the
early negotiations. President Hill, of
the Great Northern, has been in
daily conference with ]. Pierpont
Morgan since Monday. and it is
stated on very good authority that
way has been found by which
consolidation may be effected. 1t
seems to be taken for granted that
the proposition advanced by Mr.
Hill in London seven weeks ago has
been abandoned. That proposition
was for the Great Northern to alb
sorb the Northern Pacific and guar
antee its bonded debt Mr.. Hill, it
will be remembered, stated that he
had assurances from very promi-
nent lawyers in the Northwest and
that the scheme was feasible and
legal, and that the securities of two
companies which were guaranteed
by another company in manner
proposed under his plan had been
placed through one of the best
known banking houses of New York,
which naturally was evidence of the
legality of the guarantee. Chairman
Adams thereupon asSented to the
plan favored by the German and
London interests, but subsequently,
at a conference in New York, the
plan was abandoned because of the
doubt which had arisen of the le-
gality of the transaction under the
Minnesota statute. Another plan is
now under consideration, which, it
is said, has received the sanction of
Mr.. Morgan. This is nothing more
nor less than scheme to place the
two companies under the protection
of the laws of New Jersey by throw
ing them into the North American
company, of which Henry Willard is
president. The charter of the North
American company is very elastic,
and the Northern Pacific and Great
Northern could be readily absorbed
by simply increasing the original
capitalization. New Jersey offers ex-
ceptional advantages to corporations
OF this character, and if the Willard
proposition is approved by all con-
cerned it is anticipated that no OBJ
lection will be offered by the attor-
ney general to the proposed exten-
sion of the North American charter.
St. Paul daily globe., 1895-07-25
TURNING THE TABLES.

Nothing more delightful has
happened in politics for a long
time than the practical appli-
cation by citizen of Brooklyn of
the other end of the spoils system.
He had been a member of the Re-
publican party for a long time, and
had been assessed by it's political
committee for political expenses.
Recently a fire broke out in his
house, by which a certain bedroom
carpet was damaged to the extent
OF fifteen dollars. He has since sent
notice to the Republican district
committee, asking them to give their
attention to the matter and make
good his loss. This is strictly log
lcal. If a party committee can as
sess officeholders when it gets into
difficulties for lack of money, what
is the matter with the officeholder
assessing the committee when he
gets into difficulties for lack of
money?
It is a wonder that no bright
person has thought before of
applying the spoilshunters' doc
trine to the spoilshunters them
selves. If a party committee has a
natural and inherent right to levy
tribute upon those who are serving
the whole people for a compensation
supposed to be no more than ade-
quate to pay for their services, those
who contribute can reasonably an
ticipate reciprocity. If the party
committees should be called upon to
relieve the necessities of impecuni-
Gus officeholders, service upon them
would not be a perennial delight.
1t is a very ancient adage and prin-
ciple of action that one good turn
deserves another; and, should the
custom of this Brooklyn logician be-
come general, it would play the mis-
St. Paul daily globe., 1895-07-25
UNWILLING TO BE JUST.

The G o is reluctant to believe
that it must retract it's statement
crediting the Minneapolis Tribune
with ordinary fairness in political
discussion. The further comments
of the latter, however, on the atti-
tude of this administration in for
eign affairs seem to point to the
unpleasant choice between doing
that and crediting it with a lower
degree of information than we be-
ieve it possesses. In support of it's
recklessly partisan statement that
the Cleveland administration SYM
pathizes with Spanish despotism
against Cuba, it avoids the main
question altogether. That question
is whether it is not the duty of the
federal authorities to prevent any
expedition from this country to aid
the Cuban insurgents. If due dill
gence is not exercised to enforce
neutrality, this country will be liza
bic for untold damages to Spain. If
it made that error, no newspaper in
the country, as we before remarked,
would be more active or violent in
denouncing it's dereliction than the
Tribune. Instead of meeting this
question, it sneaks around the dis
cussion by the back way, endeavor-
ing to transfer consideration from
the Cuban matter to the Hawaiian
and Nicaraguan questions.
The old Hawaiian straw has been
threshed out completely. 1t is
enough to say at this time that all
that the Cleveland administration
did in Hawaii was to repair the out
rageous use by the Harrison admin
istration of the diplomatic influence
I, and the naval forces of the United
States to aid a revolutionary at
tempt in a foreign country. All that
has happened in Hawaii within the
last year goes to justify it on politi-
cal as we'll as on moral grounds.
We are amazed that the Tribune
should have the effrontery to refer
to the Nicaraguan affair. Great Brit
ain demanded an indemnity for the
unlawful imprisonment of her citi-
zens and the fragrant violation of in
ternational obligations. We would
have done and must have done
the same. The justice of her de-
mand has been conceded. We have
something of the same kind of an
issue on our own hands at the pres
ent time. Suppose it shall be estab-
llshed that France violated interna-
tional law by the imprisonment of
two American citizens. Suppose
that we demand of her q cash in
demnity under penalty of declara-
ton of war. What, in such case.
would the Tribune think if Great
Britain should step in, send her
fleet to French coasts and declare
that she would prevent the payment
of our claim? Had we interfered in
Nicaragua, the case would have been
precisely parallel. The sympathy of
the American people is with re-
publican governments everywhere.
We are broad enough to believe that
this is true of Republicans as we'll
as of Democrats. Charges against
the administration such as those
made by the Tribune are so false
and foolish on their face that thev
reflect discredit upon none except
those who make them.
St. Paul daily globe., 1895-07-25
IRoNCLAD AGREEMENT.
Plans Proposed by the Railroad
Presidents,

NEW YORK, July 24.-Conferences
preliminary to the meeting of the COM
mlttee appointed by the Trunk Line
association, to consider the plans for
maintaining freight rates, were held at
the Oriental hotel, Manhattan Beach,
today. The conferences were all con-
Quoted with the utmost secrecy. 1t is
understood that it is proposed to form
a combination of all the rail and lake
lines under an ironclad agreement to
abide by the rulings of a commission of
three persons. The plan contemplates
the discontinuance of all existing agree
ments; the merging of the traffic asso-
Citations; the dicontinuance of solicit
ing agents, and the establishment of a
clearing house for the handling of
way bills, tickets, etc.: the abolition OF
all fast freight lines, as such, but per-
mitting their continuance as names of
routes, and the appointment of advi-
sorry committees to act with the gov
erning board of three. The roads
which it is proposed to bring under the
workings of this plan are those not
allied with the traffic association,
and the object is to make
freight business profitable on the
long hauls where there has been more
or less loss The plan finds more favor
with Eastern than with Western rail-
road men.
This afternoon it was learned that a
subcommittee of nine had been ap-
pointed, with George R. Blanchard as
chairman, for the purpose of consider
ing plans by which all the roads in
terested would enter into an agree
ment for the regulation and preserva-
ton of all rates and schedules, and to
adjust all matters of dispute between
the roads. When the committee ad-
journed it was with the intention of
meeting tomorrow morning in New
York for further discussion
St. Paul daily globe., 1895-07-25
DRAFTING AN AGREEMENT.
New Passenger Association of
Limited ,JuristiictiOn

CHICAGO, July 24.-Representatives
of the trans Missouri lines were in
session today trying to arrange the
reorganization of passenger associa-
ton. All the lines interested were
represented. There was some discus
sion as to whether the association
should be an association by itself, or
part of one general passenger asso-
citation which would cover the entire
territory from Chicago to the Pacific
ocean. The former plan was finally
adopted, and Chairman Caldwell and
General Passenger Agents Francis,
of the Burlington & Missouri River,
and w. S. Hart. of the st. Louis &
San Francisco, were appointed a COM
mittee to draft a form of agreement
which is to be presented to the gem
eral meeting tomorrow. Before the
committee retired, however, it was
decided that the association shall have
jurisdiction over Missouri river and
Colorado common points. 1t will not
concern itself with business west of
Colorado points. Utah business may
be included later on, but it was agreed
that the lines interested in that ter
ritory should settle their differences
before the association would have any,
thing to do concerning Utah traffic.
The general freight agents of the
Western roads are still wrestling with
the problem of to reduce or not to
reduce the minimum weights for car
load lots. Some of the lines are in
favor of the plan and others are
against it. The Milwaukee & ST. Paul
has made the fiat declaration that it
will put in the reduced weights, wheth-
er the others do so or not. This it
can do under the present form of the
agreement by simply giving a formal
ten days notice of its intention.
St. Paul daily globe., 1895-07-25
DRIFTING INTO DR1vEL.

DRIFTING INTO DRIVEL.
The obvious cessation of interest
in the Horr-Harvey debate is not
due to the understanding that it is a
money-making affair so much as it
is to the progressive decline of COM
mon sense in the subject matter of
the debate itself. The following QUO
tation from the regular report is
enough to substantiate this prepo-
sition: "Mr. Harvey declared that all
nature was bimetallic; man had two
legs, two arms, two eyes, two ears"
This is descending to the level of
mere drivel and idiocy Man also has
one nose, one chin, ten fingers and
ten toes. What the bearing of these
remarkable facts may be upon the
currency question we are, as vet.
unable to determine. The fact seems
to be that the principals of this dis
cusslon have either exhausted the
main topic or so carefully evaded it
as to find nothing left to deal with
but this transparent nonsense. The
fair conclusion from it is that Mr.
harvey finds himself hard pressed
when he has to fall back upon the
ludicrous.
The same report contains another
illustration of his difficulties. Mr..
Harvey denied that it was fair
TO call him a greenbacker
at one point in the debate.
while both before and after
ward he explicitly avowed the green
packers theory. He said afterward
that credit money may be issued
by the government with safety only
IN such quantities as will not en-
barrass it in case a run is made on
the government for redemption. +"
Who is to determine what the
quantity is? If the government
should issue one dollar in paper more
than 1t has in cash reserve. it could
not redeem it in case of a run. There
IS no agency connected with the gov
ernment which has a single facility
LOT ascertalning how much or how
little paper money can be issued
with safety, or is actually demanded
by the requirements of trade. Rut
Mf. Harvey had already said. at sn
earlier point, that government is the
creator of money" If government
is the creator of money, the whole
question is settled then and there.
and there is nothing to argue about.
IL the government can create anv
article whatever, then government
Is a deity, whose powers it is Use
less to discuss because they are un-
limited. If the government can "cre-
ate one dollar of money, then. by
a further exercise of the Same now
er, 1t can 'create" billions. 1t is not
any longer necessary to comnare
silver and gold and paper, or con-
slider ratios or redemption; because
all that the government has to do
Is TO create" a sufficient amount
OF money to give everybody as much
as he wants.
1t is one Of the most significant
facts in this whole discussion that
nobody ever lived who departed by
hairs breadth from the PRINCIPLES
OF sound money, as established bv
the experience of the entire civilized
world, without landing at last in
the position that Mr.. Harvey has
taken. Start where we may, he ends
with the assertion that value can be
created by governments fiat. This
is really no less absurd than the
proposition that we must have free
coinage of silver because man has
two legs and two arms The Chicago
debate having reached this point, we
think it might profitably be ad-
journed.
St. Paul daily globe., 1895-07-25
AT THE THEATERS.

Local theater-goers have been look
ing forward with pleasure to the first
presentation in this city of the beauti-
full opera, Martha" at popular prices.
The Wilbur Opera company will sing
this opera the balance of the week,
commencing with a matinee perform
ance today. Next week will be their
last at the Metropolitan opera house,
and as they have added to their popu-
larity of past years this season, crowd
ed houses will doubtless be the rule at
the few remaining performances.
The new series of living pictures seen
this week are most dainty in coloring
eAI4dIdosep 10 SuISuIs eQL ,euHlno pue
music with some of them has added
materially to their effectiveness.
The sale of seats for Martha" the
rest of this week, and the five operas to
be given next week, is now on at the
box office.
St. Paul daily globe., 1895-07-25

ject. The existence of a bimetallic
system is possible, no matter what
the standard.
There has been almost as much
confusion in the public mind about
the exact meaning of "bimetallism'
as there was formerly over ''the
double standard" The whole effort
of the modern free silverite is to
show that bimetallism means silver
monometallism. It does not mean
that or gold monometallism either
1t does not necessarily imply free
coinage. There are all sorts of def
nitionS Of the term, mostly made for
purposes of debate by those who
construct them to fit the special
argument in hand. The latest, and
perhaps the best, authority says
that 'bimetallism' means "the use
of two metals as money at relative
values set by legislative enactment;
the union of two metals in circula-
ton as money at a fixed rate" This
is satisfactory for all practical pur-
United States; which is clearly, at
this date, a bimetallic country. Gold
and silver are both in actual cir
culation, and each is a full tender
in the payment of debt. That this
condition can be reached only by
making the coinage ratio conform
to the market ratio, or by limiting
the coinage of that metal which
is overvalued by the existing ratio,
or by international agreement to fix
and maintain a ratio, is established
not by theory, but by hard common
sense and the practical experience
Of all the nations of the world.
We do not, therefore, regard as
just the almost contemptuous dis
missal, by our correspondent, of BIZ
metalliSm as a practical theory,
since we regard it as both possible
and desirable. The main point
which he makes, however, and
which is one already dwelt upon at
length by the G o b e, is we'll taken.
The demand for free coinage at the
ratio Of 16 to 1, without concurrent
action by any other nation, is pro-
lection pure and simple. It asks
that the owners and producers Of
silver bullion shall be paid double
the value of the commodity which
they have to dispose of. This is to
be enforced by law, compelling
every man to take their product in
payment of debts, or for material
furnished or services or labor per-
formed, at a purely arbitrary and fic-
titious valuation. On the same prin-
ciple that the high tariff enables the
domestic manufacturer to obtain a
big profit at the expense of the con-
sumer, this proposition of the free
coinage men seeks to benefit one
class in the community at the ex-
pense of another. Outside of the
protective argument it has no stand
ing. Keeping such company, it
clearly has no place, and ought to
find no sympathy in a Democratic
scheme of government. This point
of the relation of the free coinage
agitation to the protective system
cannot be forced upon the attention
of the people too often or be too
strongly emphasized.
St. Paul daily globe., 1895-07-25
STEEL VIADUCTS
And Other Modern improvements
on the N. p. Main Line.

The engineering department of the
Northern Pacific stated yesterday that
contracts had been let to make some
important and needed improvements
on the main line. These consist in the
replacing of the old wooden tressels
over Greenhorn and Austin gulches by
viaducts built of steel. The Greenhorn
gulch viaduct is to be $40 feet long,
made up of seven tower bents and
eight intermediate spans. The Austin
gulch viaduct is to have six tower
spans of thirty-one feet each, and a
number of intermediates, which in all
will make a total length of $50 feet.
These improvements will materially
add to the safety of the line and are
much needed.
St. Paul daily globe., 1895-07-25
Earnings Increasing.

PHILADELPHIA, July A.-The
statement of the BUSINESS of all lines
of the Pennsylvania railroad east of
Pittsburg and Erie for the six months
of 1895, as compared with the same
period of 1894, shows an increase in
gross searnings of So, 80, ,595 an increase
in expenses of 81, ,535, ,961; an increase in
net earnings of STA, $685. All lines west
of Pittsubrg and Erie for the six
months of 1895 show an increase in
gross earnings of $1,903,217; an in
crease in expenses of SS24, ,357; an in
crease in net earnings of S1,076,S60.