The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1896-10-02
trinslc valus'' according to Mr. S.a
measures aud equalixes all other WI

OF Old debts tS the most important
function Of money. AS he did not Re.
fer to any authorities, we suppose be
found 1T out himself. As to It's truth
in general sense, we will leave our
readers to decide from their own
transactions. Then Mr.. s launched his
bark (no pun intended) on the troubl-
ed sea Of shrinkage Of values Of every
thing but gold, and told the oft re-
peated yarn Of the man who promised
ten years ago to pay 81, 600 "no more
no less' and now his Shylock creditor
demands 1000 bushels of wheat which
wasn't even mentioned In the bond. {"
In discussing this proposition at Bath
gate Mr.. s. referred to the report of
the congressional committee on prices
Of commodities and labor. He stated
there that the gold bugs had denied
the correctness of the tables aud de-
ductions there made, because that in
vestlgation had shown that commod-
tiles had fallen and wages had fallen.
Mr.. S. is wrong, no gold bug has de-
MED those statistics or has rea-
son to, for they completely disprove
Mr.. s. statement that measured by a
gold dollar, up to that time, only
manufactured commodities showed
any great fall in prices, food products
remained without much change while
a days work was paid for in more gold
than ever before. That is, measured
in human labor, gold was of less value
and human labor higher than ever be-
fore.
Thisstatemento of "wages forlabor''
has been, until this week.. accepted
by all financial writers as the truth
and best measure. Mr.. Sinkler how
ever has new basis which we have
no doubt will be the basis on which
business will be carried on In the fut-
ure. 1t is something like this. A
man borrows thousand dollars from
you and gives you his note payable in
ten years. When pay day comes the
fair and proper amount he pays you,
shall be arrived at in this way. Flnd
out how much of q large number Of
commodities (farmN the thousand
dollars would buy when the note was
given; on pay day, find out how much
the same amount and kinds of com.
modities will sell for then That
is what is due on the note.
Aside from the fact the law govern.
Ing money and contracts is framed
purposely to make certain the terms
therein, and avoid just such indefiuit.
ness, what speculative business the
loaning and borrowing Of money
would become; but our friends of the
opposite side should take into consid.
Grafton that these commodities rise
as we'll as fall. A man wouldn't feel
like paying debts in wheat that way
to-day II wheat was a $1.5O q bushel.
Mr.. Sinklsr stated that the McKin.
ley tariff produced $14s, ,000,0 900 reve.
nue. per year and that the Wilson Cor.
man tariff produced $leS. .O00, 600 PEI
year and that the Wilson German tar.
ID was the greatest yielder of revenue.
In neither any year or average of
years is Mr.. S. correct. The Wilson
tariff never produced 1853 million. In
1895 it was l61 million; In 1895 it was
1A million leaving of fractional fig-
ures. The Mckinley tariff In its four
years Of existence produced yearly l97,
1876, 189 and liz millions, an average Of
Ill millions The last year was eleven
months and importation nearly stop
ped owing to the prospective free
trade bill. Mr.. S. said there had been
no increase in the production Of gold
for the last ten years. These are the
statistics, worlds production Of gold,
1880, $4,000 ounces; 1891, o,320. 600
ounces; 1892. 7,102. 900 ounces; 1893, T.
COZ, 600 ounces; 1894, s,7s7, 600 ounces;
1895. 0,soO. 900 ounces.
"Gold was used only some short Der.
iod ago BY only 5000. 600 people, now
|by 3se, ,ooo, 600 people." Ar. s. is . col.
lsge graduate; be knows Of no ancient
nation that did not use gold q money.
Ar. Sc ancient history knows 90 time
when only 3SfmillIon people used gold
|as money.
"The silver in India 10 ali manufao.
tured into idols, and tho devout .wor-
shipper will not send bis gods here 20
be .oined." .There are no new silver
mines to be discovered aud our pres.
|snt silver mines can produce no more''
are some more samples Of Mr.. s's die.
|coveries. s M.
We have not time or space to 60
farther into NJ. sinkler's statements