davidaulloa/AmericanStories huggingface dataset:
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
Sound Money: Low Interest.

By misuse Of the words "cheap"
had "dear" the free coinage advocates
pretend that the believers in the gold
standard want money scarce aud inter
est high. Pointing to the sound
currency objections against "cheap
money" leading silver organs asks /:
"What does this mean, If not that the
men opposed to cheap money want
money scarce aud dear?"
This trick of words should deceive
no one. What the gold standard ad.
vocates mean by "cheap money" is
not money which is plentiful or which
can be had at low rates of interest, but
money which is made of metal OF low
commercial value. II is in this sense
that they refer TO the silver money OF
China or Mexico as Cheap" Neither
do believers in the gold standard want
money scarce and interest high. One
of their chief reasons for opposing free
coinage is their belief that by driving
out gold and causing investors to
withdraw their loans the rates of in
terest would be raised.
That poor money does not mean low
interest can be seen by those com
tries which have the silver standard.
In every case the rate OF interest is
higher than in the Nations which have
the gold standard. England is repre-
sented by the silverites rs robber
gold-bug country. yet in England
money is loaned out at lower interest
than in any other part of the world,
while in Mexico and the silver using
countries of Central aud South Ameri-
ca, not TO speak OF semi-civilize ed
China and Japan, the rates OF interest
are much higher than IN the United
States.
Advocates OF our present standard
believe in having money as plentiful
as the business of the country re-
quires. but they insist that it must ali
be good money.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
A FROWZY FAD.

Six months ago the free silver craze
was as popular in the South and West
as the Dolly Warden and crinoline
fashions were at one time among the
women. These fashions had some re-
deeming traits about them, but they
are now gone and the women look as
pretty and are as sweet as ever before.
The free silver fashion has no redeem
ing traits. Take it up one side and
down the other il is about as gigantic
a piece OF foolishness as ever hum
plugged the American people, but 1t
was popular and the demagogue rode
it for all it was worth. But alas
alack You can fool the people some
times, but not forever. The Ameri-
can people are honest, they are intelli-
gent, they read and think.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
Evolution Of COINAGE.

Gold and silver were adopted as
money by people IN prehistoric times.
This was the result not of statutory
law, but OF immemorial usage. 1t then
became necessary to have uniform di-
vision OF these metals. At first they
were exchanged us determined il every
trade, then by weight. Next came the
idea of dividing the metal in pieces Of
uniform size, weight and fneness, and
Of classifying these pieces. This Is
called coinage.
The Government has properly as.
sumed the righs to fix the size, shape,
weight and fneness of coins; that is
to regulate coinage, Just as 1t regu-
lates weights aud measures, and, for
like reason, to insuSe certainty and
uniformity. r. Weisslnger, IN "What
Is Money!"
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
The .pollnr o, Our Dadllas.y

It looks as though the people dill
not want the "d0llar Of our daldies
We have coined hundreds Of millions
Of them, and for twenty years the
Treasury has tried by every conceiva-
bic means 90 get them into circula-
ton, and vet the report OF the Direc-
tor of the Mint last fall shows that
there were only sos, O00 600 in circu-
lation. Our people refuse to receive
them SIS change Ia any amounts, and
they accumulate In the banks. which In
turn dump them into the United
States Treasury. Hundreds OF mill
lions of them lie there In useless
heaps, which we cannot dispose of IN
any manner whatsoever. If our peO-
pie refuse % use and carry around
these dollars now when they are really
worth 10 % 7 with gold. viii they
have more respect for them when we
cease 60 hold their value up to the
present standard, and they viii only
be worth one-haf as much? Does ID
not look ike sheer folly for rs to coin
millions more OF these dollars when
we already have hundreds of millions
that we caanot dispose of?-FrJn Dr..
W. p. BILL
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
A BITTER EXPERIENCE.
That of the Wage-Earner With DE
preciated Currency During Ou'
Greenhack Period.

That of the Wage-Esrner With De-
preciated Currency During Our
Greeuback Period.
Perhaps there is no better or clearer
demonstration of the effect of de-
preciated currency upon wages than
that offered by the experience of the
United States during the Civil War.
Prices advanced as soon as the Gov
eminent began to issue legal tender
notes. Wages advanced little later
but less rapidly. At no time during
the period from 1861 to 1867 had
wages advanced sufficiently so that the
wage Garner could purchase as much
for his days labor as In 1861.
In spite OF the fact that about one.
fourth of the best workers were serv-
ing as soldiers and Withdrawn from
competition with their fellow wage
earners, 50 great was the decline In
the purchasiny power OF wages that,
in 1865, the workingman found HIM
self working for fourffths OF what he
had received in 1861. Since 1863. and
especially since the resumption OF
specie payments in 1879, the purchas-
ing power OF days labor has been
steadily increasing.
In the following table taken from
equality of Money and Wages" by
Frank l.. McVey) the average nom
inal wages paid in leading occupations
in 1860 was taken as normal-lOO
per cent. (; the prices for the leading
necessaries of life in 1860 were taken
as the norm Il for prices; the amount
of these necessaries that could be pur-
chased by days labor in 1859 was
taken as the normal for the purchIs-
ing power of wages.
TABLE or WAGES. PRICES AND PURCHASING
POWER IN THE UNITED STATES. lS6O-ls9l.
[Adrichs Senate Report. Part l.. PIP. 10, 9S.l
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
40 SILVER IN CIRCULATION IN
1873.

The plain truth is that this act OF
1873, which has beer the subject OF SO
much misapprehension and denuncia
ton, was simply legal recognition
of monetary condition which had ex-
listed in fact in this country for about
thirty-fve years, or ever since short
time after the passage of the coinage
act of 1884. From about the year
1888 until after the passage of the
Bland-Allison act in 1878, no silver
dollars were in circulation in this
country, and our whole currency con.
sisted of gold coins and bank notes.
except from 1862 to 1878, when our
active circulation, outside OF Califor-
MA and its neighboring territory, was
all paper. There was during the lat
ter period about S25, 600, 600 in gold
in circulation on the Pacific Coast,
and the United States was collecting
oustor.as dues an gold and usins II IN
the payment of interest on the public
debt, but there was no silver IN circu-
lation anywhere in this country. not
even the lightweight subsidiary coins.
The value of the United States
note or greenback was always
measured by gold and not by
silver, and commodities had a
gold price and paper price, but never
a silver price, because silver, except
the half-dollars, quarters and dimes
coined under the act of 1853, had been
out of use here for more than twenty
years before the commencement of the
war, and even these subsidiary coins
had not been IN use for eleven years
prior to 1878. Our own monetary
history had already furnished two
most striking illustrations of the
operation of the natural law under
which the coins which are over-valued
by statute always drive out of circula-
ton the coins which are UNDER valued.
Our own experience had again demon
strated what the history OF the world
already showed-thlt whenever the
coinage laws Of any country permit the
free coinage of both metals with full
legal-tender qualities at ratio OF
value which does not conform sub
stantially to their intrinsic or COM
mercial ratio in the markets Of the
world, both kinds of coin cannot be
kept in circulation at the same time.
The reason Is that, both being full
legal tender, the least valuable coin
will always be used in making pay
ments, and will become the sole meas
ure OF value, and the most valuable
will be boarded or sent out OF the
country into the markets where its
real value can be obtained Hon.
John G. Carlisle.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02

In the sllverite arguments intended
10 show the farmer that he would be
richer If he received more dollars"
for his products, it is taken for
granted that the dollars he would get
under free coinage would be worth
Just as much as those he gets to-day.
If the farmers once understood tnat
the value Of the money they are paid
for their crop depends entirely on the
quantity Of goods which 1t viii buy,
and that with free silver a dollar
would only purchase half Of what it
winnow, they would quickly cease their
agitation for cheap money. When the
silverites claim that free coinage viii
double prices of all products, they
practically admit that their silver dol
lar would be worth but fifty cents.
What the farmers need Is more 100
cent dollars, and not q lower measure
Of values.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
FOREIGN CAPITAL DUGABOO.
Our Debts Abroad Need Not Worry
Anybody Disadvantages of an In
flux of Foreign Money.

flux of Foreign Money.
Our foreign debts are great source
of worriment to the free coinage
people. Every instance of bonds sold
abroad is taken up by them to prove
that our property is passing into the
hands of foreigners, that Germany,
France and England will soon own
this country, and that we cannot
possibly pay our interest to them in
gold.
Strangely enough it never seems to
occur to them that the Americans who
are selling this property may be get
ting full value for it. And vet when
you meet one OF these Americans who
has Just completed a sale to foreign
syndicate he never seems detected.
If anybody in America has lost any
thing by the sale he must be the man.
but who ever saw al American strug-
Cling to escape from the clutches OF
an English syndicate who were trying
to buy his property. The fact is these
political economists act upon the
theory that this property passes to
the foreigners without consideration,
whereas the question of consideration
is well looked after by the Americans
Immediately interested. That is not
a matter requiring Government super
vision.
The United States has been greatly
benefited in the past by the flow OF
European capital hither for invest
ment. 1t has fastened the develop
ment OF the country, reduced the cost
of transportation, increased the value
of Western farms and lowered the
rates Of interest. Money has come to
this country from abroad for the same
reasons that millions of sturdy work
ing men have come, viz. Because 1t
could earn more here than there, and
the Governments or syndicates OF
Europe can no more draw it away
from US while that condition remains
than they can draw back the men who
have bettered their condition here.
"You can't draw all the money OF
the worl / into one country any more
than you can partition the Atlantic
and pump one side dry. England
leaks gold at every pore after enough
is piled up there to depress interest
rates. George E. Roberts.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
A "Bime!alIic" Papers Blunder.

The Philadelphia Manufacturer ex-
presses a common Populist error when
it says: Tt is exactly true that the
commercial prosperity of a country
depends upon the presence of metallic
money IN large abundance. ," Instead
of being true this statement is exactly
the reverse of the facts. The produc-
ton, distribution aud consumption of
large quantities OF goods, which is
what is meant by commercial pros.
perity, depends on the honesty, in-
dustry and intelligence of the people
of a country; on the natural condi-
tons OF soil, climate, etc. ; and on the
mineral and other resources which
furnish the raw materials for manu-
featured goods. The presence OF
metals which will serve as a measure
OF values. and a means for exchanging
goods more readily than by barter,
will be OF material aid in the general
machinery of industry and commerce.
But to say that commercial prosperity
depends on the means Of lessening the
friction OF exchange is equivalent, to
use an illustration from ex-Secretary
of the Treasury Fairchild, to saying
that the transportation OF goods de-
ponds on the amount OF grease used
on car or cart axles. Does the Manu-
facturer pretend that with a large
abundance of metallic money Iceland
or Greenland would be prosperous,
while without such money Holland
would lie a poverty-stricken country?
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
SILVER NOT TIE FARMERS
FRIEND.

One OF the numerous recent co,.
verts from free coinage to sound CIV.
rency is Mr.. Firman Smith, of NASH.
vile, Tenn. Owing to the fact that
Mr.. Smith is considered one OF the
brainiest young lawyers in the South.
and is not politician or Office seeker
he was requested to make public the
reasons for his change of opinion. he
has done so in three excellent letters
published in the New Orleans Picay.
une. The following is an extract from
one OF his letters:
"Whst hope the wheat and cotton
growers of the United States can have
in a silver standard it is difficult to see.
One-third of our wheat and two-thirds
OF our cotton are exported and to gold
standard countries. The silver coun.
tries raise their own wheat and cotton
and have surplus for export. The
worlds prices for wheat and cotton
are fixed at Liverpool, the chief i'm.
porting market of gold standard Eng.
land. All Liverpool prices are fixed
by gold andquoted in gold. A decline
in the gold price OF silver will mean
that the English importer can buy
with less gold the silver necessary to
pay for the wheat aud cotton We have
contracted to ship him.
"Nor would our farmers be benefit.
ed by a rise in silver. When they sell
their produce to the exporter OF cot.
ton and wheat in Chicago, New York
or New Orleans, the latter individual
knows full we'll that should a rise in
the gold value of silver occur, the
English importer to whom he intends
to sell would ut once lower the gold
price of wheat and cotton, for the rea-
son that more gold woul1 be required
TO buy the same amount OF silver With
which to pay for them. Some idea can
be obtained of the probable loss oar
farmers might suffer from the auctua.
tons of silver by studying the follow.
ing from the last report of the mint,
showing the highest and lowest bull
lion value las measured in gold Of
our silver dollar In certain years:
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02

All attempts to show how free coin
age would increase the demand for
goods, and, therefore, create a bust
ness boom, have dismally failed, and
the silver cause is rapidly losing the
supporters who were attracted by the
promise Of better times under the sill
yer standard The proof that cheap
money does not encourage consump-
tion, and therefore would not increase
the volume Of exchanges Of goods, is
found in the undeniable fact that in
all countries using only silver money
the average consumption is much
smaller than IN the gold standard coun-
tries. AS the production Of goods
must be limited by their consumption,
il is evident that a scheme which
merely looks 10 an artificial stimula-
tion Of production could not bring
any increase in industrial prosperity.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02

In the same way the adoption Of an
inferior metal like silver for a stand
ard Of value would make the process
Of production and exchange of COM
moditles more difficult. and thus the
working classes would have more
work. But since it is not merely
work in itself, but the products Of
lsbor, which workingmen really want,
their best interests are served by the
use Of that standard OF value under
which production and exchange are
greatest and easiest.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02

The progress Of civilization in any
country is best shown by the use Of
superior tools and labor saving inven-
tlOns. There is no doubt that if the
skilled American mechanic were COM
PEELED to work with the crude tools
used in China and India, it would
take him far longer to male an arti-
Gle, and he would thus have to work
harder than he does now. Does he
want that kind Of ''more woVk?"
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02

freely as any other kind of money,
and will again as soon as the future Of
our present monetary system IS as
sured.
But our gold performs far greater
service than acting as circulating
medium. 1t acts as our standard OF
values, maintaining all other kinds OF
our currency on an equality with IT.
self in purchasing power, and giving
us afxed par ofour exchange in trade
with the powerful commercial Nations
of the globe"
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02

"This is not mere theory. 1t is what
is actually taking place at present in
trade OF gold with silver standard
countries. We are more dependent
upon Europe in the matter of wheat
aud cotton exports than she is upon
us; for We produce surplus that
must be disposed of there, whereas
Europe can buy from other countries
as well as from Us.
''If it be said that gold is not in free
circulation in this country at present.
the reply is that we have not recoy'
cred yet from the panic. Besides,
the spectre OF possible free silver
legislation causes uneasiness. Ia
times OF uncertainty those who pos
sess solid values hold to them. Three
or four years ago gold circulated as
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02

There can be no question that it IS
In the countries which have deliber-
ately adopted the gold standard that
the intelligence Of the people, as
shown through their superiority in
methods of production, arts, sciences,
literature, etc, has reached its high
est level. Since this is the case 1t Is
reasonable to infer that their use OF a
particular metal for a measure OF
value was guided by the same wisdom
which they have shown IN other direc-
fions. The silverite idea, that all the
civilized Nations are inferior to the
semi-civilized countries on the one
point of their monetary standard,
while excelling in all other respects, IS
TOO absurd for serious argument.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
SMALL CHANGE.

Silverites claim that the adoption
Of their scheme would "make more
work" In the sense that men would
have to work harder to get the things
they need, free silver would certainly
make more work. So would burning
down houses make more work for car
penters But that is no reason for
AbOlishing fire departments in our
towns and cities.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
Colorado Ammunition.

"Now. said one OF the campaign
managers 10 the candidate, $50 start
with YOU are a bimetalist.
Excuse me. I'm a trimetallist. "
"What do you mean
Il propose to run this campaign on
gold, silver and brass. Washington
Star.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02

1t seems strange, with such history
and such an experience before him,
that any wage-earner would be foolish
enough to agitate for deprecated sill
yer OF any other kind Of cheap dollars.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
A Question.

Quericus-"What do the silver PEG.
pie mean by 16 to ?"
Jollicus-"Those are the odds
against their winning"
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02
Unsafe.

Teacher -"Now, Dick, you may re-
peat the golden text.
Dick Hicks-'T don't dast me fad
der is a silver man.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02

The money question has been laid
away, and instead the farmers are dis
cussing and devising ways to take care
OF their big corn crop.
Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1895-10-02

en sn ea ID
The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-01-07
CHURCH CLUB WITH BEER.
Canon ShuttlewOrths Curious Expert
mcntS i'm London

Canon Shuttleworth, in the Young
Man, describes successful experiment
which he has made in starting the St.
Nicholas club in connection with his
church. This club is open to both men
and women and beer is not forbidden.
Canon Shuttleworth says:
When we were starting the st. Nich-
olas club the question was, Shall we sell
liquor? We decided to do so, and We
have never regretted It, If we had not
sold liquor, Esau, who likes something
more than ginger-beer with his mess of
pottage. would not have Joined the club.
or If he did, he would not go without
his beer, but would walk across the
street to get 1t. Thus l should defear
my object at the very outset. l should
lose Esau. Therefore, at our club those
who want beer can have it-of good
quality and unadulterated."
How does this work out in prac-
uice?''
First, we sell so little liquor that 1t
hardly pays us; second, no one at the
club has ever taken too much. Public
opinion is too strong for that. If any
member so far forgot himself he would
be put downstairs with promptitude.
That this has never been necessary
attribute largely to the influence Of our
women members"
The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-01-07
REPORT OF COL. 0STH0US|
Reviews the Improvement in kifle
Practice BY the National Guard.
RESULT OF TIRELESS EFFORT
III the Last Four Years the Number of
Qualified Marksmcn in the State Has
Almost Doubled - Governor Patti.
son Qualified Last Year.

The annual report of the rife prac-
tice Of the National Guard of Pennsyl-
vania for 1894 has been submitted to
Brigadier General Greenland by Col
onel Herman Osthaus, of this city, gen.
eral inspector of rifle practice. A
marked improvement is shown in the
general marksmanship during the last
four years. During the past year Gov
ernor Pattison qualified as a marks
man with the high score of forty three,
and Adjutant General Greenland also
qualified with a high score.
In 1890 the guard contained 4,549 quail
flied marksmen, and during last year
the number reached S.475, the cavalry
and infantry arms of the service quail
flying substantially their entire men,
bership. In the rifle practice at Mount
Gretna and Sea Girt, says the ;report,
Pennsylvania guardsmen have proven
the superior excellence, which has
required tireless effort and the expendi-
ture Of much money. The sharp.
shooters and marksmen are distributed
as follows: