davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
INTRINSIC VALUE"
Unaffected by Seigniorage Since
There Is No Such Thing.
To the Editor OF The Tribune.

To the Editor or Inc Trloune.
Sir: Professor Fishers notion Of seign-
forage as applied 10 gold coinage stands
plainly a scientific absurdity because
seignorage is OF itself merely toll or tax
that governmental authority may perhaps
put on coinage, and thereby divert to It's
own exchequer proportional values OF the
coin metal involved. This being the case.
there arises no real differentiation such
as would give to the metal changed In
trinsic value; for all that seigniorage can
do when exercised upon coinages OF bull
ion is simply amortization OF Its then
market value by diverting to mere tax
purposes a fraction Of its actual purchase
price. There is nothing In seignlorage
that can ever be made TO AFFECT intrinsic
values, because intrinsic values are, III
their ultimate determinings, wholly nc
titious, arbitrarily fixed, unreal and OF no
mortal account except insomuch as they
give and can be made to maintain actual
market values.
We all Of US refer ever so glbly TO IN
trinsic value" as something actually SUD-
stantial. and yet the plainest OF PLAIN
everyday common sense needs reflect put
a minute 10 discern that there Is nothing
in existence the nature OF which entities
1t to this appellatlon, and that everything
OF substantial account is relatively subject
to altered valuations, according to circum-
stances. Precious metals and precious
stones stand commonly the world over as
things possessing intrinsic value; but DO
they? Certainly not, for all that they are
good for in the markets happens to Dc
lust exactly what the markets pay TOT
them.
Seignlorage legitimately imposed on gold
would Individually affect its market Value'
and this might In due course or tune
cause world wide acceptance OF the actuaI
price OF gold In bullion. so that Its al
legged intrinsic value would pTacucally
disappear, and as q standard OF Nalue
gold would then become useless, just as
silver IS to-day. This must be aVolueu'
because it Is extremely important FOR ali
the practical purposes OF sound finance
that the alleged intrinsic value or gold
shall not be in the slightest degree dis
turbed. but shall be and remain authori-
tatlvely-and that is to say internationally
the arbitrary standard that II now s,
so that all monetizing, and. indeed, all
possible demonetizing whatsoever may oe
kept balanced or at least referrable to
and effectively governed by one world
wide and clearly recognized governmental
standard.
Fool with this gold standard by making
gold coins other than OF an arbitrarily
fixed value and straightway you have
given rise TO waves OF financial disturb
ance which will rise TO very destructive
heights Indeed, because the whole mon
etary world will be. from place to place
and from time TO time. subjected TO such
increasingly devastating fluctuations that
incalculable wrong must inevitably ensue'
no small part Of which will be a fright
fully multiplied general rascaiity IN all
the world $ markets.
ALFRED LAURENs BRENNAN.
New York, Oct. II, 1872.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27

and the affairs Of the guard seemed 10
move smoothly until friction developer
between the new general and the adJu-
tant general, and this became more
marked when the latter was appointed
10 the post of chief of staff. Then al
fairs tended toward a merry war such
as was fought in the days Of THING
hast McAlpin and McLewee.
The war has come, and the hlgh
standard attained by the various OF
CARNATIONS under the command OF
competent and painstaking officers mas
been jeopardized and the upward prog
ress of the guard arrested. Again the
spirit Of discOrd is abroad, created TINS
time not by petty personal grievances
but by ill-advised action on the part
of the commander in chief, one Oh
whose mistakes was the effort to mix
politics with the affairs Of the national
guard.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
sULZER AND MAYNARD.

There was a legislative investigation
Tof the MAYNARD theft Of the Duchess
County election returnl. The Demo,
cratic majority Of the committee fCund
Maynard blameless and praised Gov
ernor Flower for appointing him to the
Court Of Appeals bench. The Repub-
lican minority members Of the com
mittee in their report declared that
Judge Maynard was guilty Of stat
utory crime" The following year III
1898, the Democrats had the hardwood
to nominate Maynard for judge OF the
Court of Appeals. The people OF the
state resented that piece of impudence
by giving the exemplary majority OF
1Ol,O64 to his Republican opponent
Judge Bartlett.
1t was a great and memorable scan
dial. But il in no wise involved MI
SulZer. who was not even Speaker at
that time, only a member OF the AS
sembly. The blame rested upon May
nard and upon the State Board OF cam
vassers, consisting Of the Secretary OF
state. the Controller the Attorney Cen
eral the state Treasurer and the state
Engineer and Surveyor. We understand
that some newspapers up the state
have been foolish enough to make an
attempt to connect Mr.. Sulzer with TINS
matter A good memory or little m
vestigation would have shown the tutll-
ity Of the attempt.-The New YORK
Times.
A better memory than that of The
Times" or a little more Investigation
by it would have shown the futlllty OF
the attempt to dissOciate Mr.. Sulzer
from his part in the defence Of May
nard and the theft Of the Senate IN
1892.
Mr., Sulzer was the chairman OF the
Assembly judiciary Committee Of that
wear. The legislative investigation OF
the MAYNARD scandal, spoken Of by our
neighbor was made by the joint judi
ciary committees Of the two houses.
Mr.. Sulzer was the leading Assembly
man on it, Mr.. Sulzer was one Of the
Democratic majority who reported
MAYNARD blameless, declared that "all
the acts and conduct Of Judge May
"nard" in connection with the canvass
"have our unqualified approval" and
commended his appointment to the
Court Of Appeals. This report was
adopted in the Assembly by the solid
Democratic vote.
Nobody has charged that Mr.. Sulzer
was an accessory before the fact to the
MAYNARD theft. But he was an active
and influential participant in the de-
fence of the theft. With all the facts
of this great and memorable scandal"
as set forth by the Bar Association be-
fore him he declared that Judge May
nard's conduct had his unqualified APP
prevail" As chairman Of the Assem-
bly, Judiciary Committee he made him
self the public and official apologist for
election stealing.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
IN THE RERKSHIRES.
[By Telegraph to The Tribune. J


Lenox Oct 26.-Mr and Mrs George
Winthrop Folsom entertained a dinner
party at Sunny Ridge tonight for Mrs.
Folsoms sister Mrs. Joseph 5. Whistler,
who has closed her house and is staying
at Sunny Ridge before sailing for Europe
on November 6.
Mr.. and Mrs. William Douglas Sloane
gave a dinner at Elm Court this evening.
At the Pittsfeld Country Club this
afternoon Mrs. Winthrop Murray Crane,
IT., assisted by Mrs. William A. Whit
tlesey and Mrs William II. Eaton, poured
tea for about sixty members of the club
and their guests.
Miss Emily w. Biddle, who will close
her home next Thursday, gave tea at
Breezy Corners this afternoon Tor more
than twenty of her Lenox friends.
Mr. and Mrs. William J. Boardman and
Mrs. Frederic a. Keep, OF Washington
who are at the Maplewood Hotel, went 10
Dalton to-day and had luncheon with
Senator and Mrs. Winthrop Murray
Crane.
Arriving to-day at the Curtis Hotel
were Mr.. and Mrs. George Powell Ben
jamin, OF New York, and Sussex ID. pa-
Wis, of Philadelphia.
DR.. william Gilman Thompson Joined
Mrs. Thompson to-day at the Red Lion
Inn. Also at the inn are Mr.. ana MIS-
Russell Benedict and Mr.. and Mrs +. Il
Deyo, OF New York.
Mr.. and Mrs. Peyton J. Van Rensse'
laer left the Red Lion Inn for Boston
to-day TO visit Mrs. Herbert c. Mason
j. Arthur Beebe also returned to Boston
from the inn.
Arriving to-day at the Maplewood Hotel
were Count and Countess Mavilu. OF
Milan, Italy, and the Misses Helen ;.
Hannah II. and Lulu S. k!moalL /"
Brookline.
After the dinner at the Lenox Club la''
night in honor OF Thatcher VI. ADAMS
Mr.. Adams invited all the guests owe
to his home. Sundrum House, ior
dance, which was jolly informal ana'.
Mr.. and Mrs. Ross Winans Wnsue'
will leave on Monday for Boston,
stay a week with their son. koss -
Whistler at Harvard, before Mrs. "hi'''
Ter goes to Europe.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
AT NEWPORT.
TBy Telegraph to The Tribune. ]

BY Telegraph 10 Inc Tribune.
Newport, Oct. 26.-The Rogers property,
on the easterly side of Gibbs avenue, IN
this city, owned by the Massachusetts In
stitute Of Technology for several years.
has been sold to Mr. and Mrs. Louis B.
McCagg, of New York, formerly summer
residents, who intend to return to this
city for their summer home.
Vincent Aston was a visitor here to-day,
arriving from Boston to. inspect his es-
Muenchinger King, where Mrs. William
Payne Thompson, Of New York, is also
guest.
Mr. and Mrs Reginald c. Vanderbilt
and Mr.. and Mrs. Joseph Hartman are
guests Of Mr. and Mrs. Sidney J. Col
ford, jr.
Mrs r. Livingston Beeckman was
dinner entertainer this evening at Lands
End. Lispenard Stewart and Mrs. Elisha
Dyer were also dinner entertainers this
evening.
Mrs. William Grosvenor gave dinner,
followed by dancing, at RUslyn, for
party of young folk.
Mrs. c. ogden Jones was a luncheon
hostess to-day.
Mr.. and Mrs. F. S. D'Hauteville have
returned 10 New York after a short visit
here.
Mrs. Stuart Duncan returned TO New
York to-day.
The Newport County Hounds had an
other run this afternoon, starting from
the farm of Alfred G.. Vanderbilt Those
riding included Mr.. and Mrs. Philip A.
Clark. Mr.. and Mrs. VI. NJ. Van Bueren,
Commander and Mrs. William V. Pratt
and Richard Gambrill.
Mrs. r. Horace Gallatin gave a bridge
party at her home this afternoon for
Mrs. William Z. Shepherd
Mrs. James 2. kernochan closed her
season to-day and went 10 New York
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
CAMPAIGN ExTRAvAGANCE.

"Tbe Charleston News and courier
fails to take in good part The tribune >
recent comments on the expenditures
made in behalf Of the leading canal
dates for the Democratic Presidential
nomination. We said that the most
striking thing about the testimony on
that subject given before the Clapp IN
yestigating committee was that II
showed that the aspirant who spent
the least money carried most OF the
urinary states and entered the conveh-
ton with the most delegates. Inc
Wilson fund. according TO the evidence
submitted, amounted to more than
5000. 600 the Harmon fund to SlSO,OOO
and the Underwood fund TO more than
$4,000. Speaker Clark's fund was
only $4,000. THE News and Courier
COMPLAINS that it cannot understand
our remarks that, results considered
all Of the candidates except Speaker
Clark spent too much. But the mean-
ing is obvious. Mr. Harmon and MT.
Underwood made campaigns in only a
few states and spent money freely III
proportion to the extent Of the territory
which they covered. Mr.. Wilson and
Mr.. Clark fought for delegates in near
" all the states, but the formers eX-
penditure seems excessive in view OF
the fact that with n 100000 campaign
fund he entered the convention with
only 324 delegates, while Mr.. Clark
spending only $4,000, entered it with
44O1a
The News and Courier does not
embarrass us by asking: IF Wilson
spent too much in the fight, finally
"winning it, how about Taft" In the
course Of the campaign for the Repub-
lican Presidential nomination The
Tribune repeatedly deplored the excess
sive expenditure for which the intro
duction Of the primary system OF
choosing delegates was made the eH-
cuse. We condemned without stint the
use of money on a large scale in con-
Quoting what amounted to practically
preliminary national election, and
said that legislation should be obtained
to check expenditure and undo the new
evils which the primary system had
brought into existence. We have op-
posed extravaganza on behalf Of Re
publican as well as Democratic candl-
dates. and it is a complete misrepre-
sentation Of our attitude 10 suggest
that we hold it to be bad form for a
Democrat to spend even a moiety OF
what it is right for Republican to
spend" We are for a Limitation OF
the expenditures Of all parties and all
candidates, and will gladly join with
THE News and Courier in urging
legislation to restrain the unreasonable
use of money both in state and ma
tional politics.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
SHIFTS IN THE VOTE.

The small increase in the total regis
tration for Manhattan and The Bronx
should not be taken as an indication
Of a leSSeninC interest IN politics in
those two bOroughs. The registered
vote for 1912 is ,5Sl. Four years
ago It was 37O,27O and eight years ago
391. O2l. But the reduction since 1904
does not represent apathy. 1t has mere
ly followed readjustmcnt Of the
varied elements in the population OF
the two borOughs, and represents, be-
sides, the effect Of the stringent laws
passed to check false registration and
floating"
Since the personal signature law was
passed the voting population Of lower
Manhattan has rapidly diminished.
Moreover the erection Of office ana
loft buildings has been driving out
residents. and on the East Side incom-
ing unnaturalized aliens are constantly
displacing an older partly naturalIzed
generation. The shrinkage Of the reg
istered vote in the region below 23d
street is only a natural process in the
growth Of the borough, emphasized by
the sudden subsistence Of colonization.
In the last four years the decrease has
been by Assembly districts: 1st, l,7i9;
Cd, 1872; Sd. 951; 4th, Ill; 9Th, Lob;
9th. 517; 18th, LOO; Sth, 302; 10th, 1913;
10Th. 1,467; 25th, 2,7O2. The total loss
in these eleven districts has been
12O47, which has been made up for In
part from that portion Of the down
town population which has moved to
upper Manhattan and The Bronx.
Manhattans population is now near
~ stationary, except for additions
through foreign immigration. The vote
Of 1912 will therefore represent no real
decline Of interest on the part Of quail
fed citizens. 1t will be a cleaner and
better vote because of the marked
diminution Of registration In the do
main Of the Sullivans.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
DOMINICAN ELECTION PLANS.

The announcement Of the Dominican
President concerning his retirement
from Office after the holding Of a new
election year after next follows closely
upon the report Of somewhat drastic
suggestions by General McIntyre's COM
mission. There may or may not be
some connection between them, and the
promise Of the Dominican President
may or may not affect the course which
will be pursued by our government.
That is a matter for mature cOnsid-
Grafton. The idea which is attributed
to the Mcintyre commission is, in
brief, that existing conditions are so
bad, and their antecedents were so
bad, that there is no hope Of building
soundly on so unsOund a foundation,
and therefore that we should sweep it
all away and begin anew. 1t is prob
able that this estimate Of conditions
does no injustice. 1t would be some
what venturesome TO offer the PROPOSE
ton that there bad been fairly elect
ed President or Legislature in the re-
public-fairly, according to American
standards-in a dozen or a score Of
years. Yet the corrective which is to
be applied to such a state of affairs
needs to be very carefully considered
and devised.
The Dominican government during
the nearly half a century since it
became finally independent Of Spain
has consisted largely Of relationships
interspersed with revolutions. Yet all
the time 1t has pretended to be consti-
tutional. Now the question arises
whether 1t is possible to make it truly
constitutional by constitutional means
or is necessary TO resort TO a revolu-
tionary act There are now, of course,
q President and a Legislature. Even
If they were elected unfairly they can
scarcely be ousted without a Tevolu-
ton. II their terms Of office were to
expire in the near future there would
then be an opportunity Of electing their
successors fairly, and that would obvi-
ously be preferable to forcible recall
Of the existing officials.
1t would be an unwelcome under
taking for the United States to inter
yene for the management or control or
even the supervision Of the proposed
election. Yet there is no assurance
that the desired end could be attained
in any other way. A new election
under native control would probably be
very much like its predecessors since
the days Of Cabral. The question be-
fore the United States, therefore. may
presently be whether we are to assume
an unwelcome task or are to continue
to endure conditions which are rapid
~ moving toward the uncomfortable;
and also whether IL Is better to wait
in patience for the promised election in
May, 1914, and the retirement of the
President on July /, following, or TO
compel an earlier, even an immediate,
reconstruction Of the government. We
hope 1t may be found compatible with
duty, interest and humanity to await
the processes to which the Dominican
President has committed himself, and
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
A STEP BACKWARD.

The action Of Governor Dix in re-
moving from Office the major general
commanding the national guard di-
vision and abolisbing for the time the
formation creates a deplorable condi-
ton in the National Guard Of the State
of New York and will have the effect,
no matter what efforts may be made
TO straighten out it's affairs, Of undoing
much of the good work by which the
citizen soldiery has been brought to a
high state of efficiency.
The removal Of General Organ was
not the first error on the part Of
the Governor in his direction Of the
affairs of the guard. The retirement
Of General Roe, in keeping with the
age limit law, left the post Of major
general commanding the division va
cant. and the appointment of Organ
over the heads of many officers who,
by reason of long and faithful service
and recognized ability, had reason to
look for advancement was believed by
many guardsmen to have been an
error of judgment. Whether, as Sena-
tor Bracket said when the appoint.
ment came up for confirmation in the
state Senate, 1t was an encroachment
of Tammany Hall in the states SOL
diery cannot be determined, but 1t has
been frequently asserted that the
Militia Council, which might have been
consulted, was, in fact, ignored The
personal popularity Of General Organ
and the loyalty of the officers were
potent factors in aver1as criticism,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
THE TALK OF THE DAY.

"AlI the world may be stage" says
member OF the Austrian Actors Associa-
ton, but in our country acting as a
means OF livelihood is becoming a more
difficult problem daily. There are too
many actors. The time for making en-
gagements is over and hundreds OF our
profession have found no places and viii
remain idle most of the season. The
provincial theatres have engaged novices
AT low prices and have overlooked the
experienced actress. This condition Is
well known, and still the number Of stu
dents for the stage is growing. Ii Is a
field as TO which our economists might
write much on supply and demand"
Tommy-Pop. what is al optimist?
Tommy's Pop-An optimist, my son. Is
man who IS married and glad OF lt.-Pht-
adelphla Record.
A Frenchman. who apparently has
good deal OF time on his hands. has been
amusing himself by reckoning up the
number Of kisses he has given his wire
during the first twenty years OF his mar
ried life. He finds that in the first year
he dispensed about 100 kisses a day, or,
say, allowing for birthdays and bank
holidays, about $500 in the year. In the
second year this number was reduced BY
half, and I'm the third year TO ten day.
while i'm the fifth year his better half had
10 be content with two a day, one In the
morning and one in the evening. What
happened after the fifth year IS wrapped
I'm mystery" but at the same rate OF
- -
uaIly at one kiss on the first OF January
every leap year.
A HINT TO THE ILL TEMPERED.
When you've snapped. up youth who
was doing his best,
And Rneered at the error he'd made,
When you've poured out your wrath In
manner distressed.
Have you found that your conduct has
paid?
Whenever your temper you've lost
through the day,
And before you I'm terror has stood
The young man who tried, but whose
work went astray,
Did your bullying do any good?
Did you get better service from those
you employ
Because OF your rage, let me ask?
II he's fearing your frown, does your
messenger boy
Perform any better MS TASK
When you've flown on the handie because
things went wrong
And said all the mean things you could,
And thrown I'm some cuss words 10 make
II seem strong,
Have you found that II did any good?
II not, why not treat in kindlier.way
The youth who Is trying TO servg
Why not point out MISTAKES tnat ne
makes In day
Without undermining his nerve2
Why not gently reprove Tor the errors
he's made
And help him the way that you should,
Instead OF the useless and senseless
TRADE?
You may find that you're doing some
good.
Detroit Free Press.
In the event OF war between great
world powers. says the 'Jahrbuch der
Wissenschaften," battle machinery will
play an important part. The searchlight
has already been introduced. but II Is
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
REVOLUTION IN PEDAGOGY.

Last weeks appointments of teach
ers In the public schools marked some
thing like the beginning Of momen-
tOus revolution in local pedagogy.
Nearly four hundred women were APP
pointed, and only a score or a few
more men. The latter were all the men
there were on the eligible list for ele-
mentary schools, and it is said that
there are practically no more appli-
cants. The outlook Is, therefore, that
for some years at least there will be
no more men appointed to places in the
elementary schools. There are now
nearly seven hundred women on the
waiting list, and their number will be
greatly increased, perhaps doubled, at
the midwinter examinations.
This state of affairs IS attributed to
the operation Of the law giving equal
pay to teachers Of both sexes, which
not only increased the pay Of women
but decreased that Of men. Before its
enactment men teachers began at $500
and in twelve years rose to $2,16O,
while now they begin at 500 and in
fifteen years reach $500 Under the
old system man got S26,370 In six
teen years, while under the new law
he will get only $17,9S0-a loss Of &c.
800, or more than 80 per cent. In such
circumstances it is not to be expected
that men will seek TO enter the school
teachers profession.
Now, there can be no question Of the
fitness Of having women teachers in a
large number Of the classrooms. In
many cases they are to be preferred to
men. Most persons will, however, in
cline to the ideal Of having every boy
for a time under a mans instruction
before he finishes his schooling. This
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-27
THE UPLIFT OF OFFICE BOYS.

To the Editor OF The Tribune.
Sir: Reading the letter OF the Father
OF Boys" OF the 2ist inst prompts me to
write about what l have frequently In
mind for the welfare OF the multitude Of
office boys employed downtown. l should
much like to see a rally Of boys once a
year in Trinity Church to be addressed
by one OF power and influence. and each
boy presented with a copy OF Professor
Henry Drummond's book OF addresses.
No phase of character can escape the
refining influence OF their analogies, illus
trations, analyses and exhortations. II IL
a most inspiriting series Of thoughts on
the art OF cultiyating the Christian life.
II cannot but prove an inspiration to
every boy for there is nothing in our
language that conveys so many lessons
In the same impressive way.
Ny employer gave me copy twenty
one years ago. and / constantly read my
little red book with great pleasure. Now.
II each boy received a copy at the hands
Of so eminent person as Seth Low,
how that book would be treasured and
it's presentation ever remembered through
lifel GLASTONBURY.
New York, Oct q, 1912.