The age-herald., 1898-02-08
blndly as does the most bisOted 'heathen


 his idol.
 "They say it has intrinsic value. No
 history of political economy ever written attempts to define intrinsic value. The
 value of exchange Is the only value. The
 color of gold is yellow. Bury 1t In the
 sand and it is still yellow, but 1t is worth
 less until it is found. and then it is only
 worth what the other fellow is willing to
 give you for it.
 "we claim," said MT. Towne, that the
 law of supply and demand governs money
 as 1t does commodities.
 'Take this, for instance" and he held l up glass. "You all know its use. CLaugh- I ter).
 TT forgot I was talking to democrats. l Continued laughter). Because you saw me take a drink of water out of it minute ago, don't think I | don't know what it's for" said MT. Towne. l (Great laughter).
 "But, seriously now if 1t was learned to
 use it as trowel, then as a hammer, an ax, a loom, a paint brush, each new use would multiply the demand for that glass.
 These seats were made for. money, this carpet for money, the building for money,
 
 mand for everything put together equals
 the demand for money. The value of silver depends not upon its Commodity use, but
 upon its money use They have taken the demand as money from silver and added it to gold, and now laugh and make sport of the white metals condition. 'They say that the value of the silver
 dollar is maintained by the credit of the government. Why is 1t equal to the gold dollar the moment that 1t Is struck at the
 mint? There has never been @ law that required that dollar to be redeemed in any thing but its equal in service. The reason is it will do 100 cents worth of work. Mexican Dollar More Honest Mr. Towne contended that the Mexican dollar Is more honest than the American dollar. The latter now buys twenty pounds of cotton, and the people that want cot ton would like for 1t to buy forty pounds;
 but those that have cotton and want dol- lars would like for 1t to buy only ten pounds. Bimetallists say that high-priced wheat Is good thing, but high cotton Is also desirable.
 'I claim," said MT. Towne, "that the test of a good dollar is the dollar that repre- sents the same equivalent for the great est length of time." For discussion of the proper ratio, Is to 1, MT. Towne referred his audience to Bryan's article on the subject in the New York Sunday Journal. He closed with beautiful tribute to Birmingham; her resources and her peo- pie, and spoke of the city as one blessed by nature and blessed by God. Left For New Orleans MT. Towne, with his wife and sister, left on the midnight train for New Orleans, from whence they go to California and to Oregon.
 MT. Town will canvass Oregon thorough ly, speaking in every section of the state in the interest of the democratic and silver parties. The election in Oregon Is the first to be held in the union. It elects gov ernor, state officers. a legislature and its congressman in June. MT. Towne hopes to bring about fusion between the demo- crats, populists and silver republicans, and there is every reason to believe he will be successful.
 Dined By MT. Conner | Mir and Mrs. Towne and Miss Towne were entertained at dinner yesterday afternoon | by MT. B. B. Conner and his daughter, Mrs. Blount. There were present MT and Mrs. Towne and Miss Towne, MT. and Mrs. John w. Tomlinson, Dr. J. s. Gillespy, John c. Pugh, Nat L. Miller and B. w. Bar | rett.