davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-19
LIVE STOCK.
Cattle Scarce and
Shade LOwer-Sheep Stronger.

INDIANAPOLIS, March S.-Cattle-Receipts
light; shipments light. There We're but few on
sale. The market was strong for cows and heif-
ers, while steer cattle were dull and slow of
sale. No fine grades here.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-19
Wool.

OSTON March 1S.-The American Wool and
Cotton Reporter says of the wool trade: THE
past week has been distinctly a period OF higher
prices and increased activity. The market is
broadening and as we go to press the indications
all point to larger rather than smaller trans
actions. Taking the market as a whole IL may
perhaps lie safe 10 say that low grade woods are
up 1c and fine grades i2G1c. Territory woods
are still in ve-y stTcng demand and prices may
be said to perhaps show an advnce of 2Q3c on
secured basis. The market for foreign woods has
been characterized by a great degree OF activity,
goodly sales OF Australian secured and South
American cToss-breQs being recorded. Fleece
woods have developed great strength owing TO
their scarcity and to the excellent demand for
them. Sales in Boston for the week aggregate
7.l6l. 600 pounds, 2,76.G0 being domestic and
3.3s5. coo foreign. compared with a total of $40. 800
pounds the corresponding week of last year
LONDON, March lS.-At the wool auction sales
to-day 16, 25l bales were offered, OF which l,uOJ
were withdrawn. There was a good demand
from all sections. Americans were active and
they purchased 1900 bales Of the better grades
at fair prices. Crcss-breds and nerinos were I'D
dearer than at the last series; faulties were ir-
regular. Two hundred ana fifty bales of mombas
WOODS were withdrawn. there being practically
no bids. Following are the sales and prices OBJ
tanned: New South Wales-6.4 O5 bales; secured,
9dG1s 4d; greasy. Solid. QCeensland-S59 bales;
secured, 7l.da1s Id; greasy. 1s4q Skd. Victoria
1850 bales: secured. Sl2dGis 4d: greasy, 5dMls
I'D. South Australia52.96 bales; secured, lode
bales: greasy, 4s4d7d. New Zealand-ss7 bales
Hope and Natal-1.O19 bales; secured. 9dg1s 4iad;
1HSl
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-19
Thur~d. VS. Bank cIearings.

s. Fours. new. reg. -. 49, 49, l.
l.. > Fours. new. COUP e. ..- .--- L
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-19
Local Observations Thursday.

Bar. Their. R.H. Wind. Weather. Pre-.
I a. m. 1886 50 s. Swest Dense fog .3
Z p. m. 29.S1 60 90 S'west 1t. rain. II
Maximum temperature, 90; minimum
temperature, H.
Following is q comparative statement OF
the temperature and precipitation on
March is:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-19

Butter. finest United States. COS; good. SIS. Re
frigerator beef, fore quarters. 4sd; hind quar-
tiers, SD.
BALTIMORE. March ls.-Flour dull: receipts,
1855 brls; exports. 19 brls- Wheat dull. spot.
Sac bid; May, 500 q receipts. 80. 100 bu; ex-
ports none: Southern wheat by sample. ssN9Oc.
Corn firm: spot. 27izG27&c: May, Sq2Slsc;
steamer mixed. %6a26isc; receipts. 252.61S bu; ex-
ports. 442.95i bu. Southern white corn. 21l2c;
Southern yellow, &c. Oats firm: No. 2 white,
20 26c: receipts. 11.551 bu: exports none. Rye
steady; No. , Western to&c; receipts. 4.9s1 bu;
exports none. Hay steady to firm: choice tim
othy, Sl3. 50Ii4. Grain freights quiet and easy:
steam TO Liverpool. per bushel. 2l2d. April; Cork
for orders. per quarter. March. SIS Sd: April. IS
Butter steady. Eggs weak; fresh, Slsc. Cheese
steady.
CINCINNATI. March 1S.-Flour steady. Wheat
firm: No. = red. 91c; receipts. 1900 bu; shipments.
$500 bu. Corn firm; No. > mixed. 2fa24isc. oats
firm: No. 2 mixed, l9c. Rye quiet: No. ?. 3SNSc.
Lard firm at $40. Bulk meats firm at s4.s515-
Bacon quiet at S5.60a5.75 Whisky steady; sales.
$50 brls on basis of sl.17 for spirits. Butter
steady. Sugar firm. Esgs quiet at sc. Cheese
firm.
LED March .-Whea steady; No. 2
cash. 94c; May. 95Ac. Corn active and higher;
No. > mixed, 24Ac. Oats steady; No. ? mixed;
1Sc. Rye strong: No. >, cash, 31sc. Glover seed
very active; prime, cash. $3.50; March, SOS bid.
March 1s.-Wheat steady; No. l
white. goo; No. = red. 907sc; May, 92Ac; July,
76i4c. CoTn-No. 2 mixed. 22izc. Oats-No. :
| white, 2O4c. Rye-No. ?, Sec. Receipts-Wheat.
. go bu.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-19

AIIIhJIs, COIIIITTUH u TTCuT"HI, FVT HTdU. I6-TWT INV
Hogs-Receipts. 3,0G0; shipments. loo. The
supply was lighter. The market opened only
moderately active. with prices usually a shade
low ar. Packers and order men soon bought the
offerings and the market closed quiet.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-19

sKc; 60 to 20 lbs average. slz0sAc: 20 to % lbs
average. 6aZ7c; bellies. p lbs average. 6aW6izc;
IL 10 Is lbs average. C%G7hc; 10 10 Il lbs aver
age. 7hQ7hc- Clear backs. 70 TO 80 lbs average.
6izM69ac: 20 10 IL lbs average. 65eef6Ac: : TO .
lbs average. 6hMIe. In dry-salt. sc less.
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
"Free Coinage Demand L. Misleading,

II any advocate Of the free coinage Of
silver dollars or copper dollars Or iron
dollars at any ratio, rs to /. more or
less, VIII agree to stop there and ask
nothing more, / for one am prepared to
meet him, and III that way to stop the
present contest Who would want thems
Not one Of these men will consent to
free coinage on these terms Not one Of
them would be satisfied Not one of
them would then get what he is after
under the rretext that free coinage and
equal rights OF gold and silver are all
that ne wants, l challenge any one to
find an advocate of free coinage at J6 to
/ on these simple ternls-that both gold
and silver should be treated alike; that
both gold and silver coins shall be made
for any one who takes the bullion to
the mint to any number that he wants.
l challenge any advocate Of free coinage
to deny that free coinage, pure and sim
pie, Il not what he demands, and not
one OF them Will dare to meet this chaI-
lenge
This demand for free coinage is a
cover intended 10 conceal the true pur-
pose Of those who ask it. Most Of those
who support this measure have been de-
celved aud misled. Let such men put
the question TO any owner Of silver
mines, 10 any senator or representative
IN congress or to any and every candi-
date Oh the free coinage platform in
the following terms:
IF we grant free or unlimited coin
age, without charge for the coming,
will you demand nothing more:" Not
a man who knows what the true pur-
pose Is viii answer Yes TO that ques-
tion. Edward Atkinson.
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
y New Financial System.

The demand now heard from mer-
chants and manufacturers and bankers
and other intelligent observers in every
part of the country is not for some re-
pairs to our financial system, but for a
new system. No government paper can
be free from objection, because its vol
ume and redeemability will depend in
part upon the opinions Of congress and
in part upon the opinions Of the pres
ident. No one can be certain that these
will be correct in all years to come. If
we could be sure that they would al
ways be correct, we could not be sure
that the government would always be
able to maintain sufficient reserve
for the redemption of the notes. If the
weight Of pound and the length of a
yard were liable to be changed at any
time by congress, the uncertainty could
hardly be so dangerous as the present
uncertainty regarding the unit of value.
This explains why so many Of the men
who do the business of the country, not
alone in the north and east, but also i'll
the south and west, demand the with
drawal of the government notes Iron
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Can't Export Laws.

No civilized country can confine its
citizens within its own territory or
prohibit all commercial intercourse with
other countries. Every country, there
fore, needs money which can be used III
purchase from and i'll payment Of its
debts to other countries Yet, howsoev-
er great a country may be. and however
absolute MAY be the power Of its gov
ernmcnt, its laws can have no extrater-
ritorial effect, No government, there
which its currency shall be valued in
any othtr country, or compel the citi-
zens OF another country to receive its
currency save at the bullion value of
that currency in the markets of the
world
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07

If there was any actual relation be.
tween the quantity of money in circula-
tion and national prosperity, we would
now be on a food tide. For more than
a twelvemonth now the amount of mon.
ey in circulation in the United States
has been steadily on the increase. July
/, 1896, about the time the Chicago
platform was III the process of incuba-
ton and the mouth of the popocrat was
full of demands for more of the circu.
lating medium, the total money in cir
culation i'll the United States was ST.
509, 125, 900, making S2l.lo per capita
on an estimated population of II $780,
600.
Nov. /, 1896, on the eve of the cleo
ton, when the people of the United
States were to give their verdict against
debased and deprecated currency, the
money in circulation was $1,627, O55,-
GA, making s22. 63 per capita on an es-
timated population of 100000.
March /, 1897, Oh the eve of McKin-
ley's inauguration, the total money in
circulation i'll the United States had
risen to the unprecedented sum of ST.
675, 1894. 9o3, making $23. IA per capita
on an estimated population Of 72,4lS,-
900.
To fully appreciate this increase Of
the money in circulation in the United
States it is only necessary to say that
in the last ten months it amounted to
$165, 969, ,153, or more than 50 per cap
ita of the entire population.
While the absolute circulation has
passed all previous high water marks
the per capita circulation is still $3.50
below that of 1892, just before the pan
ic. But the per capita is now higher
than 1t was i'll 1890 or any year in the
history of the republic prior to that
Then why are the times not as good .s
they were along in the late eighties:
Simply because good times depend Oh
public confidence and industrial activ-
lty, and not Oh the amount of money in
circulation. This is simply the teaching
of the old proverb that nimble si1-
pence is better than slow shilling
Chicago Times Herald
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Good Money Is Good Anywhere.

While government can within its
territory define that which shall con-
stitute legal tender in satisfaction of
contracts past and future it cannot by
legislation fix the purchasing value of
its money, for money is commodity,
and its value is determined in the mar
kets of the world under the laws of
trade, and the laws of trade, like the
laws of nature, are stronger and more
farreaching than any constitutions or
statutes. The best money is the money
of greatest purchasing power, and that
money has the maximum of purchasing
power which is exchangeable at par,
not only in the country from whose
mint it is issued, but alsoin the markets
of the world,
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Cooperative Banking For Farmers.

The American Agriculturist Of April
4 again disrsusss editorially the "entire
feasibility OF cooperative banking
among farmers. This can be done, :"
1t says, 'hT slight notifications of the
system Of cooperative savings fund and
building associations or cooperative
banks, which has proved so remarkably
successful in American cities. These in
stitutions now hold over $500, OOO, 600
Of deposits and are 4 thoroughly demon
strated practical success The Saxon
Land Credit association Ia report upon
which can be obtained by writing to
the secretary of state, Washington is a
modification of the Raitfeisen system.
which in Prussia and Germany has
achieved the same success among the
working farmers of those countries that
the cooperative banks have achieved in
our American cities. The peoples banks
OF Italy and neighboring countries, based
upon much the same plan, have had
marvellous success. A report giving fur
ther particulars upon the Saxon Land
Credit association has been published
by the department of state for free dis.
tribution,in which Consular Agent Pc
ters says with truth that can never be
questioned:
What American farmers require to relieve
them Of the present financial strain under
which they are living is the power TO borrow
at the lowest possible interest consistent with
their securities and the financial conditions in
the great centers of the world. So long as they
must borrow from the local money lender they
must pay high rate of interest for accomruo-
dation. 1t Is this high rate Of interest under
which our farmers are now striving and fall.
ing that is responsible for the general unres.
and dissatisfaction. Remove the high rate Of
interest give them the same opportunity to
use their credit men engaged in other busi-
ness, exchange the present mortgage on the
farm for one with IL reasonable interest, which
the far..er can pay and have something left
for the savings bank, and we will restore hap
piness and prosperity
This question has b.sen solved by the farmer,
and landholdrr- of Europe and the solution
of the problem did not consist in the issue by
the government of Il mas, Of deiJised currency
circulated anr:ay lie people at fictitious
value. The end wa- reached by the farmers
and landhod"Ts By their own force and co
operation, by the iounii!.ly ot associations
which III time bccalI." po..,- n the land and
whose financial strength wa, assured By mil
lions OF lIndoubted securities Inch the public
was only too clad to invest IN
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Silver Versus Milk,

Up i'll Iowa they have given up silver
and have softer snap. They make $41,-
800, 900 in Iowa from their COWS alone
That beats free silver, doesn't it-beats
it all hollow? They make $41, 500, 900
selling milk, butter cheese and calves,
and at the end of the year they have
the same old Bossy and Spcck and Spot
and Brndle and Bess that they had
the year before. The Kansas COW is
sticking her head over the pasture fence,
lowing and mooing, with her bag swell
ing with SAL, 900, 900 worth Of milk,
while the old man is down town tear
ing his shirt because the plutocrats
won't coin $3G, 600, 600 worth OF silver
-Emporia Kan. Gazette
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07

Now that Japan is on the brink of
replacing her currency on the exclusive
gold basis, we presume that we shall
no longer be worried with fearful vi
sions of her growing industrial suprem-
acy, which was alleged to be due to the
silver standard. 1t was affirmed that
whatever goods Japan sold in this coun-
try, being paid for in gold, practically
doubled the sellers income when the
proceeds were converted into silver.
And this tremendous advantage the Jap
anesc now relinquish.
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Is This Result Desirableo

Should this country alone attempt
free coinage Of silver at the rats of rs
TO /, it would thereby give notice that
#c are ready to exchange for all corners
"a quantity Of gold which is valued at 81
Ill every civilized country for quanti-
ty of silver which represents III the
markets of the world about 90 cents
La I. very short time all gold would
disappear. 1t would be boarded to await
Il premium or shipped to countries
where it is more appreciated. Only sill
vcr would remain our circulating medi-
uri. We would be on silver basis. Our
standard would be d dollar worth little
more than so cents in every country but
our own.
All values would quickly adjust them
selves to this depreciated dollar and
would fuctuate with its changing value
III international exchange
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Government Currency.

The reason bank circulation has been
decreasing through term Of years, and
why it is inelastic, remaining almost
without change from season to season,
is that the security for it is a deposit of
government bonds. The bank capital is
in the treasury instead of in business.
The profits on circulation decline as the
bonds increase III value or the rate of
interest declines, and the redemption
dangers of the government currency
and the deficiencies of the bank curren-
cy are now pretty well recognized, and
every day shows increased earnestness
in the demands of business men for a
complete :uld permanent cure-Iron
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
BAD DRIVES OUT GOOD
Senator Jones Admits That There Can
but One Standard of Value.

Senator Jones Admits That There Can D.
but One Standard of Value.
No government can maintain at ono
time more than one standard of ya,no
any more than it can maintain mo,a
than one standard of weight. or NOV
than one standard of measure, or mors
than one standard Of length. If thai
be two or more standards of differen,
value, the standard of lower value will
in practice become the only standard
If one goes into the market. the law
being that a yard shall be either two
feet or three feet in length, and hnvs
carpets by the yard st a fixed price
there Will be delivered to him carnats
measured in yards of two feet in length
If he buy coal by the ton, the law beinp
that ton shall be either 1000 or 2. 2l0
pounds, he will receive tons of 2 OOo
pounds each. If he buy potatoes by the
bushel. the law being that q bushel
shall contain either two pecks or fonr
pecks, there will be delivered to him
bushels of two pecks each.
On the same principle, if the law he
that dollar is either gold coin, with
bullion value equal to it's face value
or silver coin, with a bullion value Of
only half its face value, and not con.
vertible at par into gold coin, the sell.
ers of the carpets, the coal and the pota.
toes will be paid in dollars of the lesser
value.
There never has been and there never
can be i'll any country at any time bi.
metallic standard, and the attempt 10
create double standard has never pro.
duced anything better than an alter
mating standard, with the inevitable
consequences of injustice with reference
to past contracts and uncertainty with
reference to future contracts.
Indeed Senator Jones admits in the
report of the silver commission of 1876
that whenever under the double stand
ard there is a v4-iance between the lie.
gal and market 'felations of the metals
tire standard would be practically based
ON one metal, and it the cheaper and
more available one. " The financial his
tory Of the United States and of France
furnish conclusive evidence of the accu-
racy Of the senator S view on this point
&C. Stuart Patterson.
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07

Cnwarrantei Government Interference
Prevents Easy Transition From One Sub
stance to Auo;b.r
Money is simpls- IA - noditv that is
generally recognized a universal
equivalent, and iiS decree oi goodness
or efficiency consists IL the unanimitv Of
the recognition OF the fitness OF the com
modify used a. money TO perform the
essential functions Of money Many
commodities have been used as money,
and they have remained in use as long
as they met the essential requirements
Of money among the people where used,
or until some other commodity appear
ed the fitness Of which commended it
self to the intelligence as being superior
to the commodity then being useth
As people have advanced in discrim-
mating intelligence they have discard
ed inferior commodities and adopted in
place thereof something that was supe-
rlor. These changes kept taking place
until finally gold and silver became the
commodities that were recognized by
the people Of most countries as being
the best for use as money Sociological
transition i constant. Change is the
natural order Of things. and changes
come about natnrailr and are therefore
effected easily, ii -" natural process is
allowed 10 90 ut. disturbed Trou-
blous friction rn, oa!y when there is
obstructive eC.t .... Etal interference
to della or ,.ais-, tn. ..atural order of
thin q
III JEr own day the stagecoach has
been snpplaNted by the steam railroad,
and staseroarhes have practically be-
come Il thing ii the past The tallow
dip was succeeded by lamps filled with
burning fluid or oil, and lamps by illu-
minating gas, and gas by electricity
These and many other changes We're ac-
complished with no serious disturbance
whatever, and so it would be with com
modities used as money i'll the absence
of governmental obstruction There
would be no threatening money ques-
tion in this country today, endangering
the continuity and perpetuity of all
business activity, if the United States
was not engaged in the banking busi-
ness.
Among civilized people the days of
usefulness Of silver as money, except in
subsidiary forms, are numbered, and
silver is going out of use as surely as
have the stagecoach and the tallow dip,
and for exactly the same reason-civi-
lization has outgrown the conditions
which necessitated its use. No money
has ever come into use at the behest Of
government or because of statutory ell
actments, but solely because of recog-
nized ability to perform the functions
of money.-Austin w Wright in Sound
Currency
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Three Facts.

(l) The money supply of this country
and of the world at large is not con
tracing, but increasing rapidly; (2)
the low price Of farm products is caused
by increased production, not by contrac-
tion Of the currency; (3) free coinage OF
silver would not improve the condition
of any one and would he the cause OF
great hardshlps and privations to the
wage earning classes and all persons OF
small means
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Locating the Disease.

I'VE cannot afford to advertise our
anxiety for the free coinage Of silver
any mere" the Philadelphia North
American (Rep.) declares. Unless
some of the nations want free coin
age at our ratio or thereabuut, it is idle
as well as huniliating to be Emporium
ing the great nations TO create a market
for our silver For that is the kernel Of
this nut, and but for the desire for a
market there would be no talk about
free coinage OF silver here.
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Our Own Experience.

In this country since 1865 the wage
Garner has received his pay in dollars
which have on the whole steadily an
preciated in value, so far as general
commodities are concerned, SO that the
purchasing power OF his wages has
nearly doubled, while interest on capi-
tai has steadily fallen and now averages
scarcely half what it was
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Confidence Makes Gold Plentiful.

The gold standard does not restrict us
to the use of gold Our country, like
every other gold standard country, uses
with gold
There is no shortage Of gold. It's pro
ductlon is steadily increasing. When
confidence prevails, there is no lack OF
gold for currency or any other purposes.
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
A Standard of Value.

Our monetary standard is nothing
but a measure of values. Upon its sta
bility depepd growth and prosperity. 1t
must be recognized as the very best
abroad as we'll as at home-if our ac-
tive commercial intercourse with the
leading nations of the world is to con-
tinue avd develop
The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1897-05-07
Peru Follows japan,

Peru is the latest addition to the list
of countries planning to get on to SOL
id gold basis. If silver keeps up its pres
ent rate Of progress, there will be
nothing left for gold to conquer in 1900.
OF course the need for silver legislation
will then be greater than ever, and the
silverites must work accordingly. They
will then have the herculean task of
converting the whole world back to sill
YER