New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-10
CLOSING PRICES OF CHICAGO STOCKS.
Thursday, July 0-p. m.

There Is no more possibility Of the gold stand
ard being overthrow by silver than by potatoes
or buttons. The potato standard has been suS-
gested by the new financial school. There Is
lust as much probability that the people Will
adopt a method by which can borrow 100000
Of and pay b back in potatoes six months later
at the then prevailing price of potatoes-which
may be half the price at the time Of the loan-as
that they will adopt the free and unlimited coin
age Of silver. To pay debt Of 81 for 90 cents
would be virtually the same as paying debt
In the deprecated value Of potatoes. There is
Just as much reason for having free and I'M
limited coinage of pig irOn Goa! or copper as of
silver During the dulness on the Stock Ex-
change stock traders talk on the silver question
but they can find one to argue with them for
they are all OF one opinion; and now that the
free-silver ex-bank president is in Chicago, there
is no one in the financial community to dispute
the sound-money arguments which to be
heard almost every minute Of the business day
in the Street. Wall Street denies that silver
demonetzed In 1873 without the knowledge or
approval of the American people. 1t denies that
demOnetzing silver caused appreciation Of
gold 1t denies that demonetizing silver caused
fall In prices of commodities and that 1t caused
'prOstration Of industry and impOverishment OF
the people" The Democratic platform asserts
all this Wall Street denies It, and Wall Street
is right The platform says that gold has appre
cated. but it has not. save at times when
slight premium has been paid for 1t during bond
issue periods. Prices have followed the law OF
supply and demand, and have not been de-
pendent upon the decentralization Of silver. II
the trainers OF the platform had consulted their
memories they would have found that industry
was not Frustrated following the so-caed
Crime of 1873 and that since then the country
has enjoyed some of its most pronounced seasons
of prosperity. that preceding the installation
of the Democratic Administration, for instance.
Again. silver was not demonetized without the
approval or knowledge Of the people. and 1t is
only necessary to consult the records and news
papers Of 1872 and 1873 to see how fiimsy basis
the silvertes' assertion stands upon The bill
was before Congress and the country for more
the two years before 1t became law. AS
matter of fact there Is not a single assertion of
the free-siver element which cannot be answered
and disproved by facts, and their whole case is
80 lacking In reason and sense that the most
ignorant cannot help seeing before long the
truth about the question. The agents Of silver
mine owners are building their own scaffOld. and
they will soon be walking to their own hanging.
To-days stock market reflected the absence
of interest in securitystrading, but its presence
In the dOings Of the Chicago Convention. Al
most complete stagnation prevailed, except in
few stocks, and brokers and brokers' custom
ers watched the bulletin boards and special Chi
cago wires more than the quotations and trad
ing on the Exchange 1t might be well during
these dull days for the orators of the Stock Ex
change-there are many OF them--to go on a
stumping tour throughout the country in the
interests OF sound money, and incidentally to
show the farmers and others that they are not
such bad lot pictured by Senator Tillman
and Governor Altgeld, and their ik Here II Is
appropriate to note that some Of the prominent
banks and private banking houses are doing
consderab bic worthy work In the cause of sound
money by sending out readable sound money
literature, and In other ways are helping In a
campaign of education. Actual trading In stocks
was confined almost entirely 10 the Industrals.
Changers and Louisville and Nashville. prices
moving with considerable irregularty. but gen.
orally lower at the close. Opening prices were
below last nights closing, but there was no
pressure to sell and declines were brought about
by bear operators transactions which. how
ever, were insignificant and no Importance
should be attached to the few small losses sus-
tanned London continued to watch the market
but did little In Il. and 1t may be that the big
London operators who bought so much last
week are waiting for a reaction before renew
ing their operations. Sugar Refining, Jersey
Central and Northwest were the only stocks
which lost more than per cent, the frst-named
losing per cent; Jersey Central l1a per cent.
and Northwest. " per cent. transactions In
sugar Refining, the Changers and Louisville
and Nashville furnished 94.110 shares cut OF a
to,a, in all shares of 12i,34S.
Closing prices to-day Of a number of active
CLOCKS compare with yesterdays as follows: