The Fairfield news and herald. (Winnsboro, S.C.) 1881-1900, July 26, 1893, Image 2

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t im i y ~ THE NEWS AND HERALD. * / ML r? 4 V I PUBLISHED KVEtil \i \ ?BY? KE WS ANDiHERi LD COMPANY, j TERMS,'IN ADVANCE: On? lear. ... . $ 1.50 j Six Mouths', - , - - ."5 | . ... I v .-1B VKilTISlXG IiA TEb. CASH: j "One dollai a square for the first insertion { and Fifty Certs lor each subsequnt insertion. Special rates for contract adver-1 tisors. Mauiage and death notices free. Regu- i lar rates charged for obituaries. Orders for Job Work solicited. Ail bnsiness communications should be j address*}*] to D. (i Dwiplit. All communications for publication should be addressed to W. I). Douglass. This newspaper is not responsible for opinions and views expressed anywhere else than in the editorial column. All articles for publication must be accvinpanicd by the irue name of the author and written" in rcspectful language and written on one side of the paper The true aanie required as an evidence of good faith. WINNSBORO, S. C. Wednesday, July 20. : : : itjysj Says the Carolina Fjnirtau: "The Conservatives arc having a quiet time these days. Injunctions, dispensaries, blockade wagons. FarleyIrby pleasantries and blind tigers do not annoy them. They hold no offices, have no responsibilities, could not act as Informers, and propose to abide by the law and lead quiet ami umlisturbea Ikes. They do net want 10 hear politics." Yes, notice was served on itie Conservatives long ::go that they were not needed in politics, that they could hold no office, not even a non-political and insignificant office like coroner. Although a large part of the white people, they are not needed in the party at all. Wk can'c !>ee that Senator Iibv has been guilty of any misconduct in the Davenport-Fulier scandal. It seems that he was called iu by friends of both parties, and advised against ac cepting money iu settlement, xne terms of the compromise was arranged by the woman's father and Fuller's W father, and they insisted that DavenL port should pay one hundred dollar?. Senator irby, although Lc advised against this basis of compromise, endorsed a note to secure the payment of fifty dollars. It strikes us be give Ibe only advise ;ha. should have been given, namely, either an apology trom Davenport or a prosecution in the courts. He could not as a friend of both sides have advised the lynching r\flnonr*ai?f V/I A commission has been granted by the Secretary of State to what is called "The Bab}- Cultivator Company o1 Greer's, in Greenville county, with a capital stock of 825,000." The purpose of the co i panv is "to purchase a:ui manufacturing agricultural imploments and to conduct a general merchandise, loan and mortgage auc ration of babies and the purchase anc manufacture of agricultural imple^ meuts. We can understand as does the Xeics thut merchandise, loans, mortgages, debts and poverty are closely connccted with "the cnltivatior of babies," bat what it has to do witL agricultural implements we cannot see, We hope that this kind of an enterprise for "the cultivation of babies'1 b will not be started here. We need enterprises, but not "baby cultivating f . iacmues. . A threat Debate on the Silver Prob^ \Yc begin ibis morning the publication of a joint debate between Senator Stewart, of Nevada, and R. G. Ilorr, of the New York Tribune. This debate is a model, strictly confined to the question. The silver problem is one of the great issues of the day, and >\ e prusuLUu mat, u\ci v xiuvmgcub man wants to arrive at a correct conclusion. The debate was conducted through the columns of the Xew York Tribune, and has been published in Ipamplet form by that newspaper. CHIPS FROM TIIE QUARRY. liiox, S. U., July 11*,?Mr. and Mrs. M. S. Johnson, of Georgia, has in?ved to Rion City and occupies cottage IP Mr. and Mrs. T. M. Gladney, old residents of Ition City, have returned to their old home an older and a wiser couple. J. J. Cain, of Nashville, Tenu., ha3 come amongst us and will make Ilion City his future home. Mrs. Cain and _ daughter will arrive shortly. Pat McMahon, A. T. Autrev, PatShevlin, James Murray, T. I). ^^Jimmy McCarthy, Walter McMarsden will in all Ifcta^LJuinmer at Rion Hfe^tortly bring Ri^^^kes floats are j ^Tice, par-1 ^Kces range | Hpf -five cent?, | Twin also add i BKTmmer months j PIPcTa tea. is at its height, j Bap^eveiiteen have gone to ! BHlgjp hunting grounds. Many ! socn follow. Hnpeople at'Rion Cilv are pleased n^e that their old friend The News j ki> Heuald has purchased the A tiro-! rYatc. "While we all like competition, j we hated to see the competition all on j The Evans liquor law does not inter- \ est the people ct llion City. Most all j the people make their own wine. Mr. > Walter Melton has made three quarts j of "wild cherry wine", and .judges: say it is equal to any imported brands! that the quarry people have in their' I cellars. jL With our good wishes, etc., for The j k Xews and Herald, s. { II ARE YOU MADE misabie by In-- i digestion, Constipation, Dizziness,! Br Loss of Appetite, Yellow Skin? 3ui- i w Job's Yitalizer is a positive cnre. * j ?? ??????? n SEXATOK STEWART OX SlLVEH. ti.? n<u>n;niy Arfrnmi-nt in the Silver *1.*. Debate?The Debute iu Full. New York, February 10, 1$D:?. , It is agreed between William M. { Stewart, United Slates Senator from Nevada, and li. G. Horr, of the New Yoik Tribune, that they are to debate in the columns of tbe Weekly Tribune the following questions: Should the Government of the United States at once pass a law for the free and unlimited coinage of silver? Should this law provide for the unlimited coinage of silver dollars containing 371 1-5 grains of pure silver or 422 1 2 grains of standard silver and proride that such dollars should be legal tender for all debts, public and invate? Should the law be >.> framed that after its paisage the "dollar" of ibe United States may legally consist either of a silver coin containing 412 1-2 grains of standard silver, or 2o 8-10 grains ol standard silver, or 20 S-lu grains of standard ?old, and that each of these dollars should be tre?ted as the standard of values in tfce United States? Mr. Stewart is to sus'ain theaffirma-1 live of the foregoing questions, and Mr. Horr takes the negative. William M. Stewart. R. G. Horr. consequences of the demonetization of silver and reasons for unlimited coinage. In opening the discussion I propose o consider the consequences of the demonetization of silver. I shall endeavor to show that the suspension ol coinage of that metal by the Mint act : of 1S73, followed by similar legislation on the part of Germany, the Latin i Union and other European States, is revolutionary ami must end muisaaier; and that the only remedy for ilie financial disturbance already produced by that legislation is the restoration i of silver le the place it occupied as a ! money meta! equally with gold before j that legislation was enacted. I shall attempt to demonstrate the necessity of again supplementing gold coin with silver coiu, in order to restore the basis of credit which exited prior to the legislation demonet zing silver, and that this can only be done by the unlimited coinage <>i >i!ver equally with gold. I shall contend that the United States, in conjunction with other countries which now coin silver, is abundantly able to maintain the party between jrold coin and silver coin at the ratio of 1G to 1. But whether or not the parity can be maintained by the United States alone, I shall still maintain that unlimited coinage of silver by the United States is an absolute necessity to the prosI namtw Af thp npnnle and the dtvelop fvl v* r ? c? ment of the resources of our country, I shall endeavor to show that any possible financial disturbance which may result from the free and unlimited coinage of silver in the United States will be trifling when compared will: ibe disasters which mast iaivitabh follow ihe destruction ot silver a"; j money and the reduction of the me . j tallic basis of circulation and credit t( j gold alone. FUNCTIONS OF MONEY. | The functions of moi.ey, as dcfinec i bv Professor Jevons, are: (1) A [ medium of exchange; (2) a commoi P measure of value; (3) a standard o ' value; (4) a store of value. 1 The necessity ot tnonev as a "mediun of exchange" and a "common tneasur i of value" is recognized and admitted Tm fYmr>f;rmc inonev as a "standan ' j of value" and as a ''store of value' ^ j have occasioned much confusion. \V [ j will first consider th3 func:ion o . I monev as a standard of yaJiie, 'I the standard itself can nljr be de I termined by a comparison wi*h th . average range of the priccs-^of com . ; modities. Fluctuations in such price ' j are inevitable, in obedience to the lav ?| of supply and demand cf each par j ticular article; bat the rise in thi i price of others about balancc eacl ( other. The general ratine of prices wonlt be comparatively st.-i ijnavy i measured by a true standard A > standard t>f value which, when com I pared with the aggie^atc of al property, except ike standard itself ' would maintain substantially the sam< I range of prices, would be a true stand j ard. Such a standard .v&uld pres^m , ! .1.. _ c 1 i. > c : .1. .. I uic equuy wi cuiJirauis auu iuiulsu ?i opportanity to the producers of wealtl o protect tl-;em?elves against the hare conditions imposed by the loaners o money. Falling prices tollow a shrink ing volume of money with as much ccrtainty as night "follows day. A general advance of prices (other con ditions remaining the same) indicites with e^ual certainty, an increase ir the volume ot money. It is th( average range of prices which furnishes the index of the standard. HOW PRICES ARE RAISE? AND LOWERRD Improvements in machinery and I methods of production reduce prices I and furnish opportunities for iadulj gence in luxuries. Opportunities foi indulgence in luxuries multiply wants. Wants create new demands and enhance prices. As the necessaries ol life are made cheaper by improvements in the methods of production, fhr? rtap-.anrl fiir Viiorli nrired lnrnriftS increaies. In other word?, the want; of man multiply quite as rapidly as the means of supplying them can be furnished. The increased consumption of high-priced luxuries about balances the reduction in the cost of the necessaries of life. Any radical change in the average range of prices must therefore result from a ?hange in jthe standard or measurement of prices. Such a change can only be | produced by a change in the quantity : of money as compared with the aggre j gate quantity of property* and business. THE VALUE OF MONEY. 1 The average range of prices Ins dej clined about 40 per cent in twenty I years. If our couclusions are correct, ||he cause of this decline will be found variation of the value of the $tandard~mon6?> The value of money equally with the value "of ciJjgr commodities. is governed by the law of supply and demand, and depends upon the quantity. The relative value of mouev and property must be ascertained by a comparison of all the money in circulation with the aggregate of ail property. It is by such comparison that the relative value of both money and property is determined. RKSl'I.T OF CHAXCIN<; TIIL STANDARD. It' i lif? r.crrrrotrafp of nrnnprfv is in l,#v v'r?r> ^nw ~- j-- v - ? creased without a corresponding increase in the quantity of meney, each unit of tnonev will command more property after such increase than hefore. In other word-", the quantity of money remaining the same, any increase in the aggregate of property will increase the purchasing potver of each unit of money and reduce the price of property. During the last twenty years the increase in the quantity of property has beer, enormous &UU It till? \U1UUIC Ul liUKl IV I mained stationary relatively to population there would have been some decline in prices; but that cause alone could not have produced a fall of 40 per cci:t in twenty years, or 2 per cent per annum. Such a violent change in the relative value of money and property can onl> result from tampering with the standard. ? ?flgma?a?am?a??g=a??n THE LAW 01" SCPPLY AND DEMAND. I It must bo constantly bonic in mind lint u h lo money measures (J*e vaiuo of all tilings ami determines the price , f' 11 in tnrn measure I lift valued' money. Both ihe standard , of inoii2v and the price ol commodities i are d by a comparison of the j :i e of prnpeity with ilie volume ( ot money, li i* agreed by all iutclii- . gent wiiteis (>: political economy that trie value ot'money, like '.he value of all other thing*, depend^ upon the law of supply ami demand. An increased , supply of money ra ses prices, while a decreased supply reduces them. The demand is not ibr any patlicnhtr kind of money, but for any kind which will serve the purpose of money. Any kind ot money which will circulate, whether yo!d, silver or paper, contributes to supply the demand for money. 1'KI.MAIiY AND sLCt'NDAUY MONl-.V. Money may be divided into two cl isses?nai ely, primarv money and j secondary money. Piitnary money * -------1 1?a Af* may be unaersioou u? uc ???vui,. ultimate payment <>;* redemption. From time immemorial previous to when the right ot coinage was denied to the owners of silver bullion, primary money consisted of gold and silver coin, and secondary money of paper, ."which was dependent for its value upon a promise of redemption j in coin. Money as a store of value I applies more especially to primary money or money of ultimate redemption. Formerly gold and silver coin were recognized as a store of value and as being suitable for reserves in banks and other monetary institutions. Now such reserve* are confined to gold. Credit money i-; not generally regirded as a safe bacis for other credit money, because credit may he so far extended as to destroy confidence. But credit money based on primary monev, if not extended beyond reasonable limit?, per.'orins the same Inaction, and quite as useful as coin. T? icii nv piffnrT AXI) BL'SISKSS. Twenty years ago it is estimated that there was over $7,000,000,000 of gold and silver coin in the werld. This coin formed the basis upon which I rested the volume ot credit and busi- | ness which then existed. Previous to that time gold and silver bullion were coined at the mints. Some nations coined "old, some silver, and others both. There were enough mints open to ihe coinage of both metals to furnish an unlimited market lor each, a market which maintained substantially the parity ?f value of gold and silver coin and of gold and silver bullion upon the ratio of 15 1-2 to 1. This paiity of value made the great mass of gold and : sliver coin in the world for all practi c.il purposes one iuohkv. DEMONETIZATION OF SILVER. In 187:3-4-0 the mints of the United Suites aud Europe were closed against i silver, and the right of coinage of that I metal, which had previously existed, > was denied. The demand for silver i for coinage at the mints of the civilized - world was thereby cut oil', and the 3 price of silver bullion as compared with gold bullion fell in the market. ) Banks and other monetary institutions soon made a discrimination between gold coin and silver coin, bccause silver bullion was not on a par with 1 gold bullion according to the ratio l fixed by law. Gold coin is now treatl ed as the only money of ultimate ref demption. Silver coin is treated by all great monetary institutions as sei condary or credit money, depending e for its value upon an implied promise . of redemption in gold. There has i been no appreciable increase in the " volume of gold coin since silver was e demonetized. The rejection of silver t has reduced the volume of primary CJOLD AND SILVER COIN IN CIRCULATION. It is true that there is more silver s coin in actuai circulation in the world 7 than there is gold coin. The silver _ coin is still doing duty as money and lofornJi.- cnnnlvincr tfiA /lr>mnn<7 fnr D~-_r "'c - ^ money, but it is not supplying the demand for money for reserves. It is j no part of the basis of circulation and e credit. It is treated as credit money equally "with paper. The rejection of silver as primary money suitable for j reserves has fully doubled the demand for gold for that purpose. I CURTAILMENT OF CREDIT. Since the failure of the Barings it i has been the business of all financial 1 institutions to increase their reserves 1 of gold by reducing credits. They I must force gold payments or sutler f bankruptcy. There must be a certain - ratio between the reserves and the i credits. The credit money of the l world, on the basis of gold and silver - twenty years ago, was extended to the , limit of prudence and safety. The i reduction of one-half of the basis 3 which then existed by the rejection of ! silver involves the necessity of a like reduction of the credit money depending upon the narrower basis. The process of curtailing credit to corre I spoiul with the basis is now* a slow > and grinding' one and may continue so, or the reduction may come by a gen eral collapse; but come it must, if the basis cannot be enlarged. It has taken ail the ages to accumu: late the vast stock of the precious metals which constitutes the store of metallic money. The scheme inaugui rated to destroy one-half of this vast i accumulation and to cut oft" not only i the future supply of silver, but also ' from one-half to one-third of the out put of gold which now comes from silver mines, is radical and revolutionary, and cannot be consummated without disaster. COIN AS STAND A KL> MONEY. There is much force in the objection to the i^e of gold and silver coin as standard nivney on account of the irregular and uncertain supply from the minnc T}.n ansffW -whirl) lifts 1 >0071 made to this objection is the assumption that more uncertainty would exist if the quantity of money were determined by legislation than if regulated automatically, that is, by the quautity of the precious metals obtainable. But if the precious metals are not only exposed to the uncertainty of mining but also to the caprice jif legislation, it is difficult to assign a reasoiu f&rjheir use as money. Paper "\\ ould answer cficr -pia'posc livltCV Ji.vd be subject to less uncertainty. FIAT lUI'EU MOXKY. If, after tht? precious metals have been acquired by great sacrifice during all the ages, legislation may reject one or the other, as will best subserve private interests, why use either as moneyv Why not use some other mateiial. less expensive, if the vast . stoics of wealth of gold and silver have 110 stability and no power to | regulate the volume of money? If I the precious metals are exposed to the intrigues of lobbyists ami legislative manipulators equally with paper, liat paper money must be the next resort. DANGER OF UETALIATIOX. The scheme of the bondholders and money-loaners to obtain a fraudulent j and wicked advantage will be most disastrous tojaccumulated capital. It ! has already taught the lesson that, if 1 legislation can be used by capitalists I to reject either of the precious metals 11 at pleasure to enhance the value of i: money, both gold and silver may be ' rejected by the same legislative power nonoi* mAnov tn I 1 """ 4.?V..W enhance the price of property and 1 compel the holders of fixed capital to j! lisjrorge some of their dishonest gains. ! Tin: THKOKY OF SCIENTISTS. Duriiiir the la>t forty years two hisses of men have been clamorous! t"or the rejection of one of the precious j metal>. The one da?s call themselves ''scientis'.s," 1 lie other class arc versed ! in the art of acquiring property with- \ Dut labor, and are commonly k..own j is "moiiey-loaners" and "bond-1 holders.The object of the ^dentists i is to simplify the money of the world j by reducing it to the same metal and j of the same color, to secure a supposed j convenience in use. They assume that J the people are more interested in the ! composition of the dollars they use ' than they are in the number of dollars j which they can get. in exchange for j their property. They write books and use technical terms, which fire more difficult to understand than the subject they discuss. They treat of the inherent qualities mai muucv should possess for convenience in handling, simplicity in form and ease of recognition, as if t hose were the only necessary attributes in a medium of exchange, measure and standard of value. They arc unable to comprehend the fact that the quantity of money, as compared with the quantity of other things, determines the value of each unit of money without regard to intrini<-qualities. aim-,'"p 1 rt wttiis vxd liOXDIIOLUKUS. The purpose of the money-loaner and the bondholder is more practical. They have an understanding of the real question. They desire to contract the volume of real money to increase its purchasing power. They know that any decrease in the supply of money will increase the value of the money which they own. It is but natural for them to desire to reduce the supply of money as much as possible. for the purpose of enhaucing the value of money or bonds payable in money. The money-loaners and the bondholders have combined to prevent the creation of new money and to destroy as much as possible of the money already in existence and in the hands of the people. ATTEMPT TO DEMONETIZE (iOLD. When the new supply of gold was discovered in California and Australia, the money-loaners and bondhold ? viff/ii-nnc nttninn): tr> nvf>. Crs> Ili<iu.u it vj^vivuo uuvm.j/v -~ 4 vent its use as money. It. was then propose.! to discard the whole stock of gold on hand and reject all future supplies of that metal for the purpose of reducing the supply of money tc silver alone. Germany, Austria and Holland joined in this schemc anc adopted the silver basis; but England having in 1S1G rejected silver when il was the plentier metal, refused tc make the change from gold to silver It soon became evident to the manipu lators that the supply of gold fron California and Australia was tempor ary, and that the supply of silvei would soon be more abundant thai that of gold. England's policy wai Tlio ornld trust, bveun IUUU illiupitu. Xiiv -J ning-, soon procured from the Unitec States and all continental Europe tli< enactment of laws suspending th( coinage of silver. One-half of tin world's basic money was thus re pudiated. SILVER COIN" IN" CIRCULATIONS The silver coin of the world, as es timated by the Director of the Mint consists of 83,449,100,000 full lega tender and $553,G00,000 of limitei legal tender, making a total of $4,002, 700,000. This vast sum is still in cii culation doing duty as money, but 5 has been deprived of its legitimat money function as coin of ultirnat payment or redemption. It is treatei by the civilized world as credit money resting on an implied promise of rc demotion in gold. xne rcvuiuuu ? 7 TTI1X UVOtlVj 000,000 of money, nearly all of whic is in actual circulation among' th people. No considerable part of it i in bank or Government reserves. Th loss by the destruction of silver wii not fall on the rich, but on the po?i The treasures of the rich are gold; th savings of the poor, silver. COLD AND SILVER AS RESERVES. Previous to 1873 the reserves o moneyed institutions consisted o both gold and silver, but since th scheme to destroy silver as money wa devised,.the rich have converted thei money iuto gold and gold obligations The destruction of the money of th people will not impoverish the rich On the contrary, it will enormousl enhance the value of the gold whic they own, and will give them a com plete monopoly of the money of th world. The consequences of the con summation of tbis liuancial revolution which has been in progress for th last twenty years, are alarming. STOCK OF C.OLD COIN. The Director of the Mint, in hi frt-fn 11\r "for t.llfl IIS i"1-!'"'"' ? of the Brussels Monetary Conference estimates the entire stock of gold coil in the 'world at S3,G32,G05,00o, whicl is $370,095,000 ie=s than the aggregat of silver coin. AVERAGE DECLINE ?K PRICES. As before stated, the average declim of prices has been about 40 per cent ii twenty years. This result has beei produced by the gradual^reduction o: credits to bring them in harmony witl the reserves of gold coin. Theprinci pal reduction of the available monc\ of the world has been produced by the retirement and cancellation of papei currency and other credits, but tin volume "of credit money, when silvei is included in that volume, is alreadj extended far beyond the danger line and must be reduced in an amount nearly equal to the entire volume oJ silver coin, or more than $3,000,000,000, before the gold coin of the worlc will be sufficient for reserves to keep the credit money in circulation 011 a safe and firm foundation. THE WORKINGS OK TIIK (J0L1> TIU'ST. The method of destroying silver is artful and insidious, it consists in prevailing upon one nation aftei another to suspend the coinage or pur: chase of silver for use as money, livery nation in Europe and Africa, and Turkey in Asia, has alre;]^r "suspended silver coinage. 2&ne~ of these countries purehase^ifer to be used as legal-tender ,T?ioney. The repeal of the aoj;. oflsflo would cut oil' the market for silver in the United States, and if such repeal is followed, as proposed, by the suspension of free coinage in India, silver bullion will fall ta a very low price, perhaps to 10 or 20 cents an ounce. Silver mining will cease, and all silver coin will be rejected as money. There would then be a further unprecedented decline in ihe average range of prices of commodities. The existing gold obligations would absorb the wealth of the world. Contraction would be perpetual. THK < ovst'Mi'Tn>n <?r The arts and other non-monetary purposes now consume the entire annual output of gold. There has been 110 material increase in the gold coin of the world in 1 he last twenty years. A large part of the product of gold, as before stated, is derived from the silver mines It is variously estimated that from one-third to one- i half of the annual output of irold is derived from that source. The ces-! sation of silver mining would greatly j diminish the product of gold. "There j would not be enough gold for non- j monetary purposes. The arts would j then make rapid inroads upon the stock of gold coin on hand. The disaster which must follow such a revolutionary measure in finance is appal ling. Strange as it appears, men in high places ti> whom the people have intrusted the functions of legislation and administration of I lie affairs of the (ti'Vcrnmenl seriously propose the repeal of the act of 1*90 without a substitute and rush forward without j investigation to the final consumma- ; tion of tlie scheme of confiscation, plunder and ruin wh'ch ilie policy of j the gold advocates must inevitably produce. M< >X? ?I'OLY <>F T11K COJ.1) TIU'ST. j The gold commnauon uas mu umy u | monopoly of the gold and gold obli-1 Rations of the world, but it also lias a j | political organization composed of the j I managers of the 1 >emorralic and tho j Republican party. Wliat is more re! maikablc, the advocates of (hi* wicked i scheme have the effrontery to claim j J for it an honest purpose. They call a j I gold dollar, which is already worth ">0 j ! per cent more than the debtor agreed i j to pay twenty years ago, an honest ! dollar and a just measure of value. ! They even claim that when the value j of the gold dollar shall have been again doubled by the crushing contraction which must follow the tinal rejection j of silver it will be an honest uonar, although they know full well that it will deprive the masses of money and reduce them to poverty. DETIiUMI NATION OK MKN IN AUTHORITY. The President of the United States and others in high authority declare in favor of gold and assert their determination to make every dollar as good as every other by destroying more than [ half the world's money and reducing the masses (o beggary and want. No dollar is a good dollar or an honest dollar unless it. preserves the equity of contracts, unless it is an honest measure of the value of all property. If it will buy more of all things when the debt matures than it would when the debt was contracted, it is a dishonest measure and a fraud, whether it be gold, silver or paper. We might as 11 .1. 4 .. trrr? wt'Ji Miy iimt it j inucuvn w..>, yards long to measure a yard was an honest measure because ft was \ellow, as to say a gold dollar, the purchasingpower of which had been doubled ' after the contract was made, is an honest dollar on account of its color. IIOW TIIK PEOrLK ARE DECEIVED. Every subterfuge is resorted to to i deceive the people. The agents of the J gold trust deny that it is their purpose [ to destroy silver as money and boldly [ assert that they arc bimetallism. Their [ mode of securing bimetallism is unique. It is to destroy the money I function of silver and reduce it to a > commodity. They tell us that if this can be done it will produce such uniI rersal distress as to compel foreign ! governments to restore silver; in . other words, they propose to kill silver L. for the purpose of illustrating us j power of resurrection. Silver lias s exhibited great tenacity of life. It is . the favorite money of twelve hundred \ million people. It lias twelve hunc dred million friends who care for it, ; nurse it, and do all in their power to q bind up the wounds inflicted upon it . by the cruel stabs of its relentless enemies. COINAGE TIIE LIKE OF I'llEt IOCS METALS, The life of both gold and silver as , money depends upon the right of tin.1 limited coinage. The precious metal: are not money without coinage. They are only commodities. Without the - right of coinage the demand for then t must be confined to the arts, and foi c that purpose the supply on hand is e ample for generations and their vahu I is merely nominal. I repeat, the righ of coinage which creates the monej >- demand i* the life of the precioui ii metals as money. I) G.reat Britain, France, Belgium e Germany, Italy, Spain, Swi'zeiland s Grecce, Turkey, Austria-Hungary, tin e Netherlands, I he Scandinavian Union II Portugal, Kgypt, Canada, Cuba an< t Havti have denied the money functior e to silver l>v suspending its coinage Mexico an.I Luuh America and th< vast continent of Ami, exceptiii; Turkey, still adhere-to the unlimited | use of silver as money. The United * State?, the greatest of all commercia e nations and the producer of one hal s of the silver of the werkl, with up r raised dagger hesitated before it strikes the last and fatal blow which will end e the lite of silver money. Our grea ' country issues legal-tender Treason r ?a. ~ f.. ^?i.? r. 1 f\r\r\ aa< } nuits i ii eAUiiaiigu iwi utjuui^uuv '* ounces of silver bullion per annum which furnishes a money market lot e silver which it is difficult for the mal" nipnlators to destroy. The real (to '? mand for silves among the millions o c As-ia is ou tlie increase. While the United States absorbs for monetary purposes 5-1,000,000 ounces per annum, s it is hard for the agent* of the gold e combination, with all the impeiial power of England obstructing the natural laws of trade through the tj financial and gevenimontal controi e which the IJritish Empire has over the struggling millions of the Orient, to prevent the people of Asia from obtaining the silver they want. 1 1'AltITY l'.ETWEEX COLD AND SILVER. 1 It was the unlimited demand fot ? silver for coin,-.go which maintained 1 the parity in value between gold and ' silver during all the ages previous to 15/u at me ratio iixeu oy jaw. il is 5 the denial of the right of coinage by r the nations above named which has J depivciaU d the value of silver as comr pared wi.li gold. The demand for 7 61,000,000 ounces per annum as a basis > for the issuance of legal-tender p.iper [ money would have restored silver to : par if Great Britain had not prevented India and China from c ntinuing ^ iheir former purchases of silver. The > mistake was in not opening the mints 1 to free o>inage instead of a limited purchase. If that had been done . there would have been no surplus ; bullion in the market to enable flm i con?piratois to depress, 'prir.t.. . One or a much smaller Ofiirnitv of silver for which iheiv are no pnrchas -rs is sufficient to fix 'he price ot all ihe silver bullion in the world. IM-I.L'KNCK OF TMK C I.l) TIIl'ST. The air- nt? of the gild combination, ! ?i 'fit t l?o riiwrivn. i t:u u|?"i ?? ii" 'a*' i" in .. u mem, 11:. \* * managed to rest ruin ! jm: ch-??c> of silvFr oil Asiatic account, j so a* to li iive constantly on hand a few r]i >n?:uid ( unoes of silver for which then? were r.o btm-rs. Tncy have 11? r b?e:i ahlo, however, >o to I limit tl.e pmcha-cs of si ver as to can?e j any material accumuiati >n of siiver | bullion in any part of the world. The ; entire product ot silver i? annually consumed, and a much larger output could ieadi!y be absorbed if the laws of trade were free and the market of Asia was unrestrained. Free coinage would pur it beyond the power of ! manipulators t-> depress the price of i silver, because there would be no ! ' surplus silver to be u;ed for that j i purpose. The United Staten could | not by any possibility obtain too much ! silver. j 1'Al'Eli IX CIRCULATION. TK/i nunnr ? ?iv?nlatinn nf thA T'niipd ' State? on July 1, 1892, including silver j ccrtiticates and Treasury note? issued j under the act of 1800, amounted to! $1,139,745,170. If silver coin is rejected as unsuitable tor redemption, this vast volume ?f paper money must be redeemed in gold. The entire stock of gold in the Treasury for all purposes docs not exceed 8120,000,000. if silver coin is to be needed for ihe redemption of paper moi.ev, there ?ti!l remains ol mieovcn d {.upt-r, behind which (! ' '< ?*I.trr nor silver coin, According "> the Director ol the Mint mere is ? >< 444 of gold coin in the United Stale-. If free coinage shou'd drive jrold out of the country i' would require an amount of silver coi i. < qua I t<? :he gold coin which would have to Juke its place. If a i::oia!l:c l> si-, dollar lor dollar, is teichcti, ?l0.j 7'.M),000 of siiVer < olii must be obain-il to pi;t behind iIn' urn: veied p p. r. in dilion t ' ;nl ill's, a | .uivi\ >i:V'*r b isis without the um.* of yo'd ?v<m!d uq lire an uddi ! m each \ car < {' Irmu U<>? to $GO,0??!.?,(itM) in Miviv c. i i to keep wiili po|.u'aiioii an?t imimness. \\*i:ii such v.i-i vl-il-Io demands fiii* coin, ill" ?1:i*?j?ci* ?>f yold going to a premium or vi. ?? ;he country in large <j iat.t:tio> i- loo re mole for mm iuiis consideration why ixkopk discakdkd sii.vkr. Europe did not discaid silver I ccause gold was legarded ?Ji.j b.tter metal. On ibe contrary, iheie has been a consensus ofopinion in Europe for centuries that silver was a* good as or better than gold for u-c as money. Silver was discarded for the avowed purpose of dispensing with one of the metals lo make the other dearer, (iold would have been the me'al discarded if the judgment of continental Europe had prevailed, bit England - ' ? 1 w-1/! .. iwl having taken me ieuu m wiu u..,. adopted gold when silver was the [ plcntier metal, would not change her policy. Consequently, continental Europe w:is compelled to foilow the lead of England or abandon the scheme to demonitiz3 one of the metals. Why not let gold go? Silver is certainly as good as gold, and plentier and more regular m production. Why attempt to get gold when it is j impossible to c-btaiu sufficient for use las money? Why not accept other money equally good, which is abundant and costs nothing, except placing Up stamp of the Government upon tl.e bullion when it is presented? EUROPEAN MARKET FOR SL'Rl'I.LS PRODUCTS. Europe is the market for our surplus produces, and we are interested that Europe shall have plenty of money and 1)3 able to pay a fair price for our wheat ami cotton. If three or icur hundred millions of our gold could be sem to Europe it would raise pciccs in that country in the same manner that the influx of gold from California and Australia did forty jears ago. The old price of wheat and cotton would be restored. It is the competition for gold which enhances the valt\3 ot gold coin a d depresses the price ot property. GOLD INSUFFICIENT FOIi MONEY. The object of suspending silver coinage in Europe was to create that competition and nhanc-'. the value ot gold and gold obligations which arc the property of the gold combinat'on. Let the Unite 1 States withdraw from the contest ai.d cease buying gold and allow the price of gold to go down ; and i lie price of farm produc s g-> up The attempt to ob ain yo!ii enough f >1 use as money has proved disastrous and must end in ruin. The siiwi > mines of America ate abundantl) sufficient to furnish the United State> with ample reserves in coin for asonnt ' circulating medium for an indiliniu J period. No other sclume has bee! i suggested which will accomplish tha object. 5 EXCESSIVE SILVtR IMl'OSSIBLK. ' There is no source from which ai , excessive supply ot Hirer can he ob , tainrd. Tin- mines do not Itiiri-h it 5 because their output is annually con sumed and the inc rease of I heir yioh , dtictiun of either of the precious metal 5 has never occurred and the experienci ? of the world precludes the possibility f of any excess beyond login"mat? d<.* j mands. The coined silver of th< t world is all in use doing: duty as . money -and cannot be sp&nd. Tin > $1,100,000,000 of legal-tender silve r which Europe owns is circulating ! j a par with gold at tlie rate of luon j than $1 33 an ounce. The par of nm 1 silver coinage is only $1 2929 ai f ounce. There js no danger of Euro . pean silver coin coming to our mint! ; at a sa-t iEce of 3 or 4 cents an ounc< 1 to 1)3 coincd into standard si]ve; t dollars. Asia never surrenders eithei r iier gold or silver, ller exports o ) commodities always exceed her im t ports. She has no necessity or decin to export the precious metals. CAN SAFELY REMOXETIZE ALONE. " If it be suggested that the Unitec f States alone cannot maintain the paritj | between gold and silver, let some one show why. If we would reach a me j tallic basis and make no discrimina tion between gold and silver, w< ' would need all the surplus silver ' Our legitimate demands would susian 1 the parity for generations to come [ But of the parity at the ratio of 1G tc ! 1 should be destroyed, what ham * would result? The United State; would have an ample supply of metal lie money which would not be subject to the caprice of legislation, but would be regulated by the slow ' | accretions contributed from the silver [ | mines. , I run STOCK OK SILVER COIN. J It must be borne in mind that the I slock of silver coin in the world is ; i now about $4,000,000,000. The an| nual output of the mines, if it were j doubled, would add but a small peri centage to that stock, and would no! ! in the least disturb the stability of values. How would our people be i injured bv a stable and reliable circti j lating medium al liomc based on silver j coin and a larger supply of gold in j Europe to enhance the prieejj?-<fiir j surplus far m j)rod "? j SHKIN'IUXii_<n.- voi.l'mk to <;<?u> l)is"""* ASTirous.Xo advocate of gold has attempted to show that the shrinkage of the | volume of money in the world to gold alone would not be disastrous. Cut I still the agents of the gold combina! tion insist upon legislation which will i produce that result. They admix that I there is not gold enough for use as ' money, but they suggest no remedy I for the evils of the money famine j which is inevitable. They even tell us I that the United States is powerless: j that we must submit to the dictation of English bondholders who control the Government of (Jreat Britain and whose influence has closed euery mint in Tvmvmrv no-.iinsf silver. The same ! combination of bondholders who secured the passage of the mint net of , 1873 now demand the repeal of the act j of 1890. Sach repeal would be the : consummation of the revolution inaugurated to enhance the value ol money and depreciate property and services. FIN A NT IA I. INI > K1' K NI) K N< K The suggestion that the cause of silver must be submitted to an inter-. national conference of bondholders and money-loaners, -who are prede- j termined to destroy silver as money at all hazzards, is unreasonable. If the producers of Europe who have been robbed could be consulted the question would be different But the bondholders and money-loaners of Europe, and particularly of England, mock our supplications and ridicule our subserviency. An international conference composed of men whose schemes have already depressed the price of commodities throughout the world fully 40 per cent, mined silver With the only complete 1 Wh#*r<=? **verv oart of the machii ""? ?J i any wonder that Victor Bicycles There's no bicycle like a Vic complete as the one devoted ex of this king of wheels. OVERMAN W BOSTON, WASHINGTON, mining and impoverished the farmers) of both Europe and America, to de- j terminc the right of the United States to establish an independent financial policy for this country, is most humiliating. As long as the bondholders rule" England and England dictates .t it? "HI Aaniinno * our nnanciai pujiuv, uu ?jii , to be her dependent vassal. Our | political independence is a delusion if with it we are denied linancial inde- j pendence. tiie silvli; olestiox lwkamol'nt. The silver question is the paramount question in the United States. The cunning of the agents of the gold trust cannot avoid it. The issue must come and be decided. The people of the United States will never rest satisfied until the wrong of 1873 is made righ; by the restoration of silver 10 the place it occupied as money before that outrage was perpetrated. \V.m. M. Stewart. the silvek question*. Messrs Editors: How will the free fVnm il>f? slamlnoint v;*v/l V 4 on ? Vi L __ of iucreafing its value, help tiie farmers of the United S:ate?? 1 am as a firmer, naturally much interested in this matter. There is a great deal to be teen in the daily papers on this subject; but it seems to me too much of the suggested relief is based on j theory. Tt>- sta:ed facts in the case [ are contradictory. There is so much j dogmatic assertion, and attempt to inI fluence by inuenilo. For instance, l' f.i l?lVi rt v | some editor, or a su-wncu paper, who may have no more farmer i interest thn tln> subscription list, and ' possib'e outlook for an office, will 1 come out with n. pitc?,'staling tliat . demobilization of silver is the great ; cause of its decline in value; claim that a conspiracy exist*; that our national leaders are influenced te pass I legislation for I he express purpose o! > cheapening si \*2r, enabling England i to purchase it at ieduced rates, ant] 1 taking if to India or Eg\ pt wheic its purchasing power is greatly enhanced, I buy agricultural products i<> cotnpeu 1 on English market wiih agricul lira products of oftr country. ' In buying a bale <?f American c 11or ' the Engiisliu.au pa;.s for it in go!c ' value, the cost < f amount of silver i ? bale in India or Egypt and ^piace"^ ' same waik t?thus injuring the farmei _ ot_ thi-. country; ami eventuaIlr,'Vj i pnve ijun 01 ins nome anajuwcny. ? I sec very clearly tfliat the she 5 pinches; 'o:v 'r appear# to ray min 5 the gist of the matter lis com pet it io r with tlie cheap labor \of Asia an ' Africa. uct silver valuV, (or ratlis 1 undervalue as is claimed.*} r England is the tremendous con; 1 merci&l centre, and we arl- l'orc.d, b " existing circumstances, 4,fo sell ou ? products on her market in competitio: \ with the earth. \ Let s look at die other stfde of th " silver question. It is theri-i claime< that restric:ed coinage has nipt cause* " the decline in silver value. l&efore thi } last election, I tead in the fraper ; letter from Congressman Bramloy, ii which he advanced statistics *rNi?win? I that years ago silver was relattiveli r with gold higher, and t':e eoKnag( ; greatly kss than it is n?w, under? tin . woikii-g of the \ resent Sherman law - Mr. Bsawlej's statistics and stVitc > ments h.-.ve never been dUpioved tU-ai ? . . . . ?. V, , l Know ('i, anu 11 coned, wiiy in r> i lioip'siiivti proof ihat silver decline . in value is not based on restricted > coina e? Do the farmers wish the i government to coiner on silver and ? back the enterprise on our govern. mom's cieJit which is bssird on its . power to tax its citizens? , In case the plan succeeded the :ilvei - owners (ami perhaps politicians) would reap the great benefit: if it fails, the farmers and working men who are chief consumers and tarjft payers (in fact, in the ei d, ?ve bear ; the burden of taxation) would suffer. ! It seems a curious claim that ?112land luis the power to purchase c ur ! silver at less than its value. Why not sell it io France or some other po.ver? Why not advertise it on our own matkets for the world to bid, ami it no more can ^Ojir*7-~?4rv-J- <Vworth mot^>^\\ |,j hotiUI our^overnj t"?iLL?rioard its si verm :i proi.tb'e ioss prercuse of increasing the liiculatiiii: im diutn lor t ie ben> lit ot iis t inners, when wc tanners haven't got rrecli' t?? cimd ite the prcent snppl ofcirrene}? Delhi \o:e i-> h>d our col ion and oilur agiicnlturai products. There is a gr<at ileal of silver in th? world, and if we declar.: a bounty on ii more may be found. I ste by an estimate in the CotUn Plant tl.a* th~ world's trading1 iaion# who have i. eariy exclusive >jl\vr uirrrm:} amounts in population toi jg-M hundred 1 ?v I . 1. ? I 21 (141 lUIlJk-iJIIU IllltllUO. 1" M?U ^ ii.il*.! plaits t?? ckl<' an inci?a?c on :?M "! their cunc,..Cj? Oi.C ?-HI.re ?r Go cents wor li ??! .Ani 'iiia i -iiver may buv <>:;e dothir ami thim-e *^ht c-nts worth of (iio products V'l Lgvp' or India. 1?n: will f'.it d<>|!:i- :i t?irt\eight cent.* worth tjrinii a iloilai* and thirty-oiyht coiii:? of Icir.il t?*it?icr on ihc \\oridJ> Ii not, win is it j worth a dol :ir and tliirty-t ij?ht cctit>!j it it does, then why not uke oni ! A inerican silver over to India oi l K<ryi?t tiiid buy ttietn out :u il.c r.re ot G"? cents and 81.3S worth and j l!io competition in that way? I It \ou sav, oli, the a-;Iv r must In in j the form of t npe> ?. <>r p'.-o tr s, PZu^ land !i is the j riviU-jrc ot thiir tuinta.j this would i)ft a confes-iou of K'tsj land's power a-> a irntat trader to place j 1 the agricultural world in competition' lor her advancement. With such con-! trolling power I don't see why she! could nor still manage io coin rupees and piastre* cut. ot' the proportionate I value of silver decreasing quantity ofj meta] as price advanced. One terrible form of demonetization exists in our I midst. l;oes not the farmer system of i credit business on a lien amount to a| gigantic depreciation of currency! value, pa\ing forty, some say 100 per1 cent. A fanner who bujs fifty cents! worth of merchandise, cost value, I ri"|j ^ vi wrvjj I Hi vHw ?3 flL^s Mfc Haj k Xott ^SV: # Dicycle plant in the world, le is made from A to Z, is it > are acknowledged leaders? :tor, and no plant so grandly clusively to the manufacture 'HEEL CO. fiAN FRANCISCO. UC.H Vbnj w.... pays lieu price., one gold dollar's worth of cotton, sells a gold dollar fcr fifty cen<s worth of ?iiver. Now, if we continue 'o carry on our home business in lliiS/?Vr, what right kave a set of pcopl^^sTfeking1 on to such a system or bo\jte^V to expect any advantage from^Ss&enterprise, engineered by a lot of psSTicians and silver mine speculators, eNiJVi granting they increased the value^r* gj!y-^r? , The English merchant woo'd turi. Illii" "" additional -jst of his s-ilvir on the goods ne sold the Indian and Egyptian, and the American merchant would claim that English manufactured pio% ducts were gone up aut of Msdtf, and would rni.-e on the fanner here siid we I could i..-t help outse'ves. The farmer ' ;:i th:? United States has to sell .for ? i.-!i value and compete wj^h the j iv<-rM, and that is not ail, nej-ris* iu i j ;>:i\ i!i<i cosr of Skipping" to ciaikets " where the p ice is fixed. Then is no j claim made that increased valun of } silver would deprive England of her j controlling influence in silver ^untries, I and no one expects under favorable j circutr^ Atices to increase the value of j G;> cent? worth of American silver to } KJ-S cents (which is its English value in trade in the market we compete with.) Unless this is done, the balance would still be in favor of England, admitting that the value of oar products is still fixed on English market. Let's review the po-isimi of the farmers of this country. We ?!<? " j: not. sell our cotton for even E- g!Uh valu^, for as I said, we discount the* price, the amount it oosts to land the ^0 cotton on English market. w ?? miy ^ ^ on credit at n:i?? us rates .{ intriv.-t, sell for cash in competition wiih the world. We pay shipping expenses to market on what we seil, and ^hippiag ' expenses from market on what we buy. Just how the government works i for her farmers I can't )-:ee. The mahu: faciurers and traders of this country pay in buying the farmers produce at j lowest cash price ?n (he world's j market, minu? cost of transportation. ' In return -ells us :.t English price. i j expense of carriage, and percentage of profit added. Now to all this add our ' *' 1-t* To v*^ | teariui crc<"it sysirm ui ,uu*inc;? j it strange thai such a Qoinbination is '! proving large enough to :.bsorb all the ;J farm values <f this country? Our manufacturer is e.-iabled to wring a [ large profit ou: (;f us by special man- . j date of the government, denying tije faimer the right to buy from ?hc (| market on which ho i< forced to sell. 11 Picture, if we can, a ?j?nMi (Carolina j farmer sending lii< c tton to Liv??n> -ol ' j exchanging it for clothing or common ^ ?1 ?r. in ? .ilna. ^ r j W.v < .. r , - Jjy* J rmw?mfac*urcr s gowni:?e;^^"t and j demands a sum ofmon-v maice tne cost of anieles rquai or more than manufacturer's price in this country. H If our government has ihe arbitrary light to tax the foreign property of !r her fanners before allowing it to land, ^ and thi silver men admit that they arc l" ruining this country by selling cheap - silver to England, I vote that the r government place? one hundred per 1 cetit~tax on the f r urn ale of silver I bullion. E. P Palmkk ? | Ridgeway S. C., July 19. Specimen Cases. . ei S. II. Clifford, New CnsscI, Wis., was * troubled with Neuralgia and Rheumatism l ' his Stnmar-h vcn< Mo l r | affected to an aiarnfing decree, appetite I * j fell away, and he was tenibiv reduced in H > I flesh and strength. Three bottles of Elec^ | trie Bitters cured linn. H - Edward Shepherd, UarrLsbug, III., had a running sore on his leg cf eight years' - standing. Used three bottles of Electric w I Bitters and seven boxes of Bucklen-'s Ar**"""? -^1 t nica Salve, and his leg is sound ana well. i John Speaker Catawba, O., had five large Fever sores on his leg, doctors said he . vtas incurable. One bottle Electric Bitters ! and one box Uueklen's Arnic.i Salve cured ; him e; tireu Soul liv\Ti?Ma<ti?p .& * Hack! en'* Arnun sah?. . 1 TnE UKPr^A.'-YK 111 th?- world to; < tts, Bruises, Sor?*s, l*ivt>rs, Sail Klwum, ht-v^r j Sores, Tett?*r,(Jtiepi -!( ;ia:i<l.x, Chili. , Corns, ami all >kin '.V?ptioht>. ami i-<ki. i tively <*ure> 1MU*s, or u?? ;>a\ r?*?ji*ir?-<? I* d j is guaranteed t?> ?'iw perfect * pVarti.-n, ? ?riiioi:f\ r?-tuii!>e<i. i'nc* l* - ?i:t> tvr box. Ko! ><:>le hi V"?" er ?& Co.. i?CC<:Injr. U?:r , .!?ir' a ?*r, : v.?9 i.;.* ui>. s.??<i:iO :;UC>V.\ s >;*?.?.? rl.i .. 99 It is picciMr.t; c .res M?i:ir>:.. Ii j 50cta1 -1 -J SI. CO .*$ ??>e. N |l|l aJM Onece.<s, fdose. This Gi^iat Cough Cure prompts cures ! where all others faiL Coughs, Croup. Sore Throat, Hoarseness, Whooping Cough and Asthma. For Consumption it has no rival: i has cured thousands, and will CUBE YOU if taken in time. Sold by Druggists on a guarj antee._ For a Lame JBack or Chesty use SHILOH'S BELLADONNA FLA5TEK^5C. CHILOH'S/IkCATARRR Have you Catarrh t This remedy is guaranteed to cure you. Price, 50 eta. Injector free. For sale at the Winnsboro Druj: Store WOOD'S PIIOSPHODINE, The Great English Remedy* .*?>?. j&ffa Promptly and pera&nently cures all forms of Servous HP, ' w treaiTiess, Emission, SpermKrr* S ?9& otorrhea. Impotencyand all jy iBJ" *T effects of Abuse or Excesses. J\ f CjM? 6zj Seen prescribed over 25 \i>-7 *37 years In thousands of cases; is the orJ y Reliable and EonkS?? xIa. est Medicine known. Ask ClW HMKaJMJnyg!s: for Wood's Peosi Before end After* ?k>dote; if he offers some I v V * worthless mcxllclne In place of this, leave his dishonest store, Inclose price la letter, and we will send by return mail. Price, one package. $1; sir. One trftf please, six Kill cure. Pamphlet In plain sealed envelope, 2 stamps. . Address THE WOOD CHEMICAL CO., '.2 ' 131 Woodward avenue, Detroit. illAu DEa'TAL notice. D K.DAVID AIKEN offers his professional , vices to uir ciuzeiisoi uk icwn and County. A share of pub' ;c patronage respectfully solicted. J^Oflice, No 9 WashiDgton^js^rtwadoors west of post office. ^ s-25*xi-_...