Historical Newspapers of South Carolina

' f ' *" X ) /? _ / ... / y . Q.. - ^ r / ^ / v S r ' . <L--Cx~<' L^' - ..f / ptetton. ' " | k^^ated M0W VOL. XXVII.?NO- ? >. UNION SOUTH CAROLINA AUCUST 1,1800. $1.50 A YEAR % f ? . ?? ? - ? I, . ., ? ~ ? --M ! I T~l"~ .~BIB I _ L J 1 I _ J L, I J .? , A CURRENCY CATECHISMVARIOUS QUESTIONS FXl LI71TLY ANSWERED What C. Stuart Patterson has to Say on tlio Question in tho Philadelphia Ledger. what "m vu i mi:an It men lis that sixteen ounees ??r silver, *Mcconliii^ t<< ?|ii;tiitii v in weight .1' pure i11?*t;11. are to ?!) <Ietin ml in Inw 11 > ho eoiial in le?*al Iftuler Villllf to oli(> ollll' t' o!" :oilih no matter v lint 1 !:? market valtt" of t!it* siiver liniv !j" in I;m t At tiiv present time about thirty-one oune s of silver are e jual in inarkt'i value to one oil nee <? jfoM, it eaii as well make one mcnv siiv r ei>ual in Value to one ouneo oi jjobl. Sixteen to one i!oes i: ; mean that the i.o-l sessor of oiie yoM ilollur will i\* t e in exeliainre therefor sixtein dollars in silver ! dlar*. what iv.ji:s in;. "I'llKi" < r iv:!!; ajiiaxv it mean- 111;11 if tilt' owner of -i\tiVil Ul!IIee- of -dvef. wh.cil ?-.411 ho hough! ill tin- 11'.m 1 i\t. he v. ill receive lluT' lor Sl>>. ill I!I III* ill'V. Such ;i transaction will, if dhvrean he l;e|?t ut a par V it it gold. net :: profit of Ss.'i'i, or per cent, t . the o\? iter oi .-d . cr. what nor.- i.i;o\;. *n;.M?!:it" Mtiw'r Anything is a Jet:;'.! tinier which the law num.amis ;i ?reditor to receive in payment of a ilcht. The only tho of a legal tender law i> to force a creditor to accept that which lie would not voluntarily receive. <ioM derives no value from any legal tender in v. for it- vrduc is it1 ullion value in the market- oi' tie wni !d. i ? e-t.d'h-li lie coinage < !' diver. ? > to 1. a I ! I jo admit -:! er dollar- to fuli and utiiijiun-d le_.nl tender i-. tlierelore. to abandon the gold -ta.U'iard. and to nutlio.v e any one v.lio ha- \i'4 jji - I'.el' 1 ? j n\ therewith a.".. debt !' -* 1 Ih-.t Ii<? l:i\v ciiii r.i tiie jiii'.v !i: j.uwcr 111;; t w liicli it <!< '! { > loi/al ici11Itmi. I -Ml- -li.? r. i::?? i-_r! )in<!<' ;i li'.il I"-mI t' ii'it-.* : ! any ra- ; ?. will haw i,.i Iti-liiT | iir? i ;?- i n _r ) ?w?.' * 111.111 tll.lt W ! I i''! I i.?: 'I < >!l li11 ill 1*1*: *11 Millie. w it.iT :.?'K i:i i: we r\u. iT\ r'Hiiiuoilit \' !i:>> tOilv it"<?M j>ricc. That wliirli tli" fanner iiihI 11i;i11M!';i?-tuivr >rlls n l?:ii 1 ! ;* : ( tlir* jr??M prim sniil cv-rvtlilii- i!;:.t tl-e iir.'iii' ; r.:nS tin* ir.iMiii!'.M tur? r mi<l I lie l:ilii?i ) ?:). ? lev- i - :;1 n | >;i i? I fur :it t is?* jLT??|?i |?iii-i>. li - i 5 v t ; wl:cn a l-ilit!ri| tu li'rc c<> !i:i;.'f. rati hr )iiiiiiit;iiiii'il a; a ]i:.r with u. I,!, I'ln will l?e ii i e.UIIIOl oe I !i:i III III1111' I ,|j ;i | ;u we.ii ;/o|?l. |u ie? < will rise. lust til' I i>e will lie ui'*:i~:;I in :i <! iir?'?*!;iti rillTi'licv, uiel I!i:t; svv will, iluref?re, lie Jill ::]>Jr rent ri-e, iiiel im ? .1 reul rise. li ;* <l:on!d !>; 11111 f('e |>ri< tun r uiei tin l.d.oriti;.; jiimi lutv.-. It would e ! r;i: 11. \.: - of I:;'' :i.? j.- mi.I I 1 ?>r in iI;" utile j.r >; i\ > jjte i: JII!!' "el til i I?' I I (? ill". ' . ! VViiii'.i ."i ' ' ' ''lie> 1 ' ' I I u" li tiKj sell at a higher price they will also have to buy lor a higher price. what doi.s tin-: "i>i:m"m;tization OF HI I. V Kit" M HAN? It means that the Act of lS7d dr >ppcd the silver iloilar from the list of coins to beAhereafter eoined i for the I nite'l States, and that since then silver has not been admitted to free coinage. lb-lore that time about eight iniIii?m of silver dollars had been coined, which still are legal tender dollar . 1 nder the act of 1*7d the < io\ernioetit ha.*, e lined more than three hundred and seventy-eight millions of legal tender silver dollars. \\ hv did the (fovernmeiit take awav fro!n tbe owners of silver bullion the privilege ol"free romai^e? Iiesanse j ilf market prior of silver fell ;m<l the C'iiisiurr value of silver, therefore, oxeeo?|e<l. ami now exeooils, its bullion value. Why ii:t! (lie pviee of silver In!I? Heenuse ol' lartrelv ilioreasoil proilu'-tion. That proihietion was Ir.>111 18111 to 1 St)'.' from eleven to twelve million annually: in 1^T<1 sixteen million-, in ls'fi twenty-three millions: in 1S~J, tweiitv-ei^.lit ami tliree-oiiarter millions: in 1ST I. tliirty-seven ami one-third millions; in 1S7V. lb; :y-iive millions: in 1 <ift v-o11" ami one-half millions; in i S!Mt. -evi'lit V an 1 one-half inil'.insfs, :;n ! ill l?.'~\ ei^!;iy-t we millions. Wliat lias tlie ( o\ei'iime'ol tlniu1 for silver -moo 1VT 1 mler tin* act of 1STS tlie (ioveninii-nt purelm-wil two hundred ami ninety-one million outlet s ol silver bullion, ami eoined more t!::*.>i three liiimlrc'I ami seventv-oijiht millions silver dollars. I mler the art oi l-V.'U the < overnnient |?aul in treasury note* one hundred Mini fifty-six millions of dollars lor our hundred and sixt v-rioJii million ounce- of silver, which is now worth about one hundred and <fne million dollar.--. ii.\- Tilof i k-it" :;r.t:x j !*:> .-mi: 1*7:}? There ale a fr?v nil! lie and e?>r|iO- | rate wliU'll Were epaled j l'ior | : i 1 -7:?, hat ill it are no iieii\itlnal | lian. in < \ l.-i e|| eo which were j rre.i' ! jirior i > ihat dale. 1 U ' an* j e'.v.t < d -an Co tha". date I'.rxe been i in ale Mjioli a ;.'oid nasi-, Mini ;1 i> no , hardship l<> re-jinre debtor* ! pay :o j tin* ..nne ! eurreae- in w id. )> 1 their loan - w .-re m i ! wit.:. ?! ?:: t: .\::v !\" c: :t<t \.\11 ?n i i:i:n i.i it ixntvit : ai.-"' t No one can o'.taii! n.??ii( \ other- i wi-o than 1 >\ receivni;/ it a- a i <*r s iliiiT -oinethiiitr for wliieh money is i.aid or l?v doiny some work iV>r whieli lnoiieV is red. ll tin* <><? , * i 1 e'i'iiiili lit i' lies more Miouic o wil! j not ".live a.vav that ni<<tu v n. anyone. j and no one \.il! receive inonev m> i milter liow 111;i?-;i I Ik re in cir; ;! ( lion unices lit* .--? ! I - hojui'i itiiit; lor | money or i|oe> -oiiir work lor money. A ?lej?reei:ite<l enrreinv v. ill rsiMe j priee :ijijt;irflillv. 1?;11 not iv:i:! v. :i:i?I ! it v. ill 11 :I erenu <111v snore work to , lie t'.oiie si lisiv :: ? i:'"> ' u.e/t io/ work !? : i i- ?|e|,e. w it \t t?'.t:s yiii: * ?;..t.;> ; a\ ! .?i; i .m i:.\ n :" ft ijoes liot lilt*;i11 llie < \ell|.?;Ve. of j rvei: 'lie eliit f. m-e ?/oM ns t orreney. j It (Jiii-s not niCiili lit it ;;!l i lie enr- i i o i i . . . i ! r: lir\ .*?'J I: i". mm ? ??n? hnic t" ?m | i)' I \ ;;! '.? w it !i '^1 >|i I. I/! . :?.I'.f il i-i 15. * lIU'l l ' 1.1111?i i' !l.l l?r; l! I I 11:111 ? . ll'f hint -Ifi'iy, ?i?I i? i t'ic oitl*. i..i il'i l-iM'l.ir ! i;i :i c'\ I- ! 1 i 1 ? ?!;:?: v* . >\ !!<> v. li.l. ;:i: i'.KN !".! ! Ili !? '-V 1 i;i ' i i:i.:: .?in\<;r. < ! ;i.\ ; i:" l'ir-5. li JM'iVi WrJV S'r : >! i lit I rt 'ir r.i |?i! 11 i'i :i 11*! ; < ;i - ' w o:i!, i Wii'lM It t' ' llli?.?i ' 1 i 11'! i! 11" I. It: :: I-< ili<>\ i ilVr 11 !!. ! jtrnjx ri . S -CI.il'i. N:i!' - V. ill :! ln.i.c !tii,iKcr> iin<l lunk r- '.v ill jii.tiit ilieivI.V. 'I'l.inl. .\ - ii; i r I iriii 11 i j i ! !' i ':' ' ' ! IJ11 ( i: i <' i 11 |: i I ' J '! I V.\ - ' - "1 :l" Hi-'. N t lUV, til" owners of silver bullion will gain ! largelv. who w11,1. m: ltY Tin: ' i iuu: < o!N.\:;i: of -II.Villi Fii>t, all brain workers and hand ( workers, lbr tliey will not receive i more wages, and they will have to pay more lbr their rent, food and clothing; second, all depositors in j savings banks, for the deposits which i have licc-n made 111 ! I, or its equivalent, will l#i' paid in silver; third, the members of the building ami loan associations. lor the i nor t^a^es i:i whieh their money is invested will he ??asd in depreciated currency; fourth, widows ami children who tvly iijion tiic proceeds of life insurance policies to -?ave them from poverty, lor they w ill not receive more than halt' the expected proceeds of their policies : lil'lii, the holders of national. Stale, municipal and corpn- j rate bonds, for these ohli".t:;tions, w hen | not <pecil?cally pavalde in .^<?hl. will I In- paid in (lie same depreciated currency : sixth, the citizens of the W ester:i :m<I Southern Stat?for those State- need eajiital Jin* their development, and a shock to puhiic credit frightens canital avav, and. lastlv. and cnie'dy, all citizens who 1 rise the honor ot' their country will l-e injured, for national dishonor will | billow njioti IVpil<ii:U'Oil. ? ? A riain Definition of "W hat Ci::.teou to One MoansThe confusion at present surroundiu,_ the monetary ijUCb'tioii and the < great importance ot a clear under- i standing of it at this juncture, prompt < us to offer the following hrief explanation of the muclujuotcd phrase < "10 to 1," and to add certain coiw~ sidcrations that seem to us to bear s' directly upon the grave situation i that confronts us as a nation. j The comparison * * 1 ? to 1 is 1 simply a comparison of weights, flic ] pure .- iivcrcontained in a silver dollar | ) is to the pure gold contained in a j ( gold dollar in point of weight as i, l'? to 1. In other words, c.\ ! ,-ive ' oj the alloy in each, tiie silver do'iar ! 1 wo'o'hs -ivtciii times as neicli as the ! i ?1 i dollar weighs. This is :i j-laiii statement ilver and i i 1:o vr-11 i dollars extuvssel in grains i "... . ' i art* familiar, but ?*-i the c nvouioneo . of the readers t !' th!., e.reuhir we i tubulate them as lb;!, nvs: J Pure Total ! . Metal Alloy Weight i (1 '"ains drains (.'rains I (odd d-ilar : \?1 p.VM';: Silverd .llar....b71.lid M.iid lib do I i It should bi' 'I'.Miueily borne in mind ! that the i\;>;e- i->i * * i'? i I is an expression re' rrin..t >..i; lety to the unitier ?>{'relative weto'.!I'r n it 1 we are to infer nothing a - ! . present relative values. \\ ithont underfakihir j 1 to write history in t;.ii . .".. bar, we j a;av sa. thai there was a time when j the ratio < ! value iMiv.vea the t . > metals wa* | vaetiealiv exjuvv.'.'il l,v the li^uros "1<'? to ! lit t:i;ir tiau* i has loii? since ilojiiirtei]. !ti< yicsth n j of iiitr'.usie vain.- wit!, ul.'u li v.c s:r. ' now r.sjIVi.Jil.-l. <)winy to ihe hit-:*1' increase iti the j>r >ilactioii ?. 1" silver, ' tli) simjile fact is that its iiimxet \alue lias ?1.v:v:p;(m1 up.ti! its acl:::il j value i; ahai.t i '1st that of <j.i! !. : This i~ I In* 11; i < I iiiVip 1 IT t. < )i ' all the ! !': e- that have t r ? i to , l?iit!f sih'Hi; this ?-i(.|u; Ijavi : ip) titiu? to speak. Neither call we 1 turn a ;i.h' t<? u;m tt-s why lie- pre . til siiv. r .I..!!-,.'is MP., ta n I :,t : ' ' ' \\ i h tli'" ; .'I 1 H i". : > . that the '.iC v' . i' a."' aat }>r> Mi ii<ic!'ca>;u ' ? ; *P l iiP V. ' eft ii <.! !: ' IMC Ml is pi.ay* 1 to Pia'p,'.ail) each I j * - I * a:.it eVi I V . .1 v. it ' lint h, <-;i n , j ('!<* lip ? . j tip- *ilver. Thf p'T , i -a ti. : | stares us in the face as a nation ithis: If it lias chanced that in the * markets of the world to-day it takes ' ?i ounces of silver to huv I ounce <>t gold, shall tiie United States, bv anv i . , * I jugglciv wnat soever, attempt to j palm off lb ounces of silver as tin.* equivalent of 1 ounce of gold: It is j a question simply of the honesty or j dishonesty of this < iovernnient. The free coinage of silver means ; . i that any man may bring t o the min 1 071 1 -1 grains of silver ami have j the I nited ^tate stnnm it with the i 4 I lying statement that it is a dollar. ; Should this happen, these things wiii i follow 1. (jiohl will immediately he at a pro- j luiiun. it wiii he mca.-urod i:i terms j . of silver, it will be hoarded. 11 [ will be driven out id* circulation and into foreign countries. 2. The necessities of life wiii also , he at a premium, They will also lie ( measured in lertns of ilvcr. it wiii take twice as inany so-called dollar- , to buy meat, buy clothes, to pay rent, ! interest and taxes. 0. Whatever at the transition j pci iud stand < as due to any man (Vom a hank, frcm pensions, Ironi a bib; insurance pi.liev. in a book nceomt, ' ii ' upon a note oi baud. or. trout any debtor whatsover, will be lovable in , terms oi Silver: tnat is, ;ii adol.ar! i worth one half as much as h< rote, f.. re. ; It will happen also that labor wiii be ; , the last ef all commodities to bo ineluded in a rise of prices; an.1, there ; iw..~ : 1..: . .. i tun; nii^vs aatt ."SliaillS v* ill i.'C il> , urcly cut in halves a;? any asset. * 4. The credit of the v 'ovcriiincnt ;\ill lend to be impaired. All valuta ?^e unsettled and fluctuating. n The hard conditions of depressed lade and monetary panic will bear nwiiost upon ;ho-c who have len t to 1 ose: and the debtor v.ho mav teno-,.- , * * i1 ai::v seem toeim. wi'.\ uftimutelv >. e b-cause *4 the liisirir-t, Kotb i lircet and get.era!, tiiat v. ill be , ,'rented. I . . I These e i. i> rati >i - reesn to :i - t ?; ?e indisputable. V\ c side thei i <? oi:r clients :i> matters < !' unannl Hid of pttblie interest. V/iiln nt any ittcmpt at elaborate d:>cuss! a ? 1 iVtrr financial thcori we -ah alt then: as a plain :nen'. . fth , rosiiit; t.'.i p ; > i . ic\y a c m;j <?J ultiOhiti !lC.St\'i ljVOVV t)i!V s \\i?ciiciiee of tlu- . i' 1 i tbvoiul anil do i ;i p?1 *i . : >[' nurbot value d' a'.i < iHalas it jtlitil: li? :!;< It.: ! tlic civil;,;. <( lite v.'.d'i.t > > In : i * it will vv> i*i! re < ( lis I lie j ,v 1 ::i< lit < ; :i!I ' ! _m .i .:;i;i ; r i:: ?,*iivsrl1: an 1 i. is {'.lly :* ; l; , i . il. n't that v. c c.iu' vit!; V.:. :c ;?::us t.) t'acr.! :! tf i.:i!i:im! 1-i'v We 1?:i.i i'! ftlaoo tills ta:v^:1)lo form ; con- 1 victicii- a-'. 1;j-:i ::v cv?.:* I ? i l- lalji'M./h .>. < -;i ; I . | BRYANT i/jv i:.v v.:n. ! : I *Omens T?o Ti n . P.- Wlil .'v. Uot'io i'iv :?:u.-i t. <.1.' <t'i. I a! v ' ? V ;; i ? - % ii! . i' 'ire i . :>. i'i;.. .:t() j ' - > .11 I . .! ? . V : . n<>. 1 | - i! v '' I- !' .'I;' ! ; v..!., \ !:. s* i, . :.< i.r . n?>\\ r ; .! l.'l'.l l 'I " I' I ] i\ttlic i ii ?; wil < ms:l CJuvn il 1 1 ?. : . ' ' I . . i! . . . I 1 V j i ? ' *' ' ? . \ i .. . 1uv . . . i i Wn. A. Nichc *: 15 AX KI UNIOIT Respectfully solicit you HEPRiiSEIxT l" CMP AMIES WITH TAKE A FOLIC WITH r "NATIOb And feel Secure in that 5 your wife and Chi] CHEAP, EftUITi Wo writo Ii:ip:mvil hi !;; ? iro, V/e are tliao \L!, OTi 1 K\l Cx)Vl I- A Wri.ii;- ti.e> A G E N TS WANT E D.- .IV.lustlo. CoiTC-ponuence roViiited JAMES E. H GG*il8s a; Affeil i "i'i rcjiuleiii, J. Ui'vnn, arrived of < 'i : i 1 l ... I * SCVOttU WtVKS JlOiO.C t ;'li.ii>11 vMiivi'ii'.'-!. i.. >i!i !i|i .',1 :: '?v i< !. ; !. i,.. i.'" v. .i ji. "ii'ti v. iih m". ' t: " ? ?' 1 i. Ti !i ' i * .vn . . ... r ..i ( V v i i. '-il...< i j printed on t!.. tick : of ml- wii ' . . j 1 i? ! In;- ' V."!'.' Mis: : "V. U : j.,, i . *. . , * ..! i I' ? ? ? 11 1 !. n-'ini: . 1 ii.' . ! I .' " . . . n .. . . : , ... - I I :i i : . . . I ii.i ? :!):.' i > .re . . i ' i * ! ' ' ' ' | . . (. . ... ... . ! i?: : . : . , i " ' . ... I i 1 11 > . , ,, . i i .; t 1!' ' 1 ' .Iii!. . ' . . i ' l\ ' ... . . ' < .... ?- '> ,. .i . ' . . , . ' ! : ': . . * < . t >LSON & SOiY, I :ks? * ??. O. v F1KK ISUKANCE. M0.0C0.0C0.00, OF ASSETS. Y Pi IE? TAT T T T-iT-< >? zr^CttZfuascujsxzzM rcu wont die Leaving dren in Want. I.ELE, SAFE! -Ordinary and Under Aver NIKS COMBINED 0 ii.sk s, money lor those win will .UNTER, y; South Carolina. his defeat. 1 Veil is;; i !: <l SlM'.ilho", Made t:;? S:i; , i;;<- < {or ?.f the uili: ! i ?l:iy.s he created, tSio ' the i';"." it. Mild on tile " T. Ii?; . wVu nv<? years of nfjiv. s i.the:: \ .;> hi v. if!: Ii!('mh|v |!m\. | : i ' 1 " * 4 miIi: i Iain's ( ra I l; m ivin:i?v. ami !' ' 'lire:. ; |11 ,?|" a UiUR. 1 ' :> ; i l!i<* <!ii?ec:ions ;mi. 1 ' . . . *- , IliU i I ' li'v.ni t:> improve, an ! : :;s stout V :. ... i i'" . .SIIff S; siVi -l . ' I - ti;ii.M* il." iiT.ie-ly : ?. a . ... ! Mi; ;mivv ojia i!l ?' i> l . ' ' Ml know >W UI'iMil it i-; . . . i : \ i i i. <; ;;i!i;ih.> . ' "r. i Oy-a >)! i s . '.. i ;* !. .. . !( - . unr I art:* offchnlnc-* ami of love.? o . V- ' ! : . !> I Mlo'oiV;'. \\ itli ;i WW i MIM ' mi .! lu >| i-,i!;. i ' ' i'!\ . . ! ii ' ! > consult :i : ' "i: ( Ii.il111 ?*:* .tin's > ' ! "! :? ilie St. 1 /.'. 1:i: . I i loi'Mici a l-ottlo . > ! a ;. i. . t .till* was v.< .. J i . . iiin-i licartiiy i i|\ to :mv?>a?'.Milfrr. -: !. ?Vi . K :!. <;> Slit 11.v * . ' i' . '; :'l i 'i'.-;'.k' I >Y 15. <r ? ; i '"M I for.n an in:? nan"- lv'i^ion. - - ? .' i .:* >\ry\ Saved 11 i . I.i.V. \Jr. ??. <' i!. ( 'f. ;I T.::,ri I5.'av. is. . If, ki New o\ : ! . ir i>!', . Was taken . .:. " i; !i'1 all I'n physician ? . i ' i: a!i?l was ' : >1.1 ! i. i;|i| . lac, ' > . . o-.-m . i ;ia my ,'t ' cud h'tt.iu it* . - !i' . ! ?< 1 "i'U to ni t .'.iV. ' . :--r a .i . lilt**?' l? itleH Wit* : . .ii. !' i-. i Hi lis y , .-. < or t ' ; lico liial at ? .1 ??v.. i' r t . the - < .* J oi Uoruiaelio. !' . 1 ...!! !- <? l, . . ! I.- !'- I Jim I. i .. J?. "?< iiro ! . '; ' ! !: n.;U::tl .si -I. hemi' ! iii Mi*"*. > nrs?(? ! i. ' ' . > J"* a 1 :?{{!(', i' . !i !. I . ..! (. . ; ;* !.. 11 D'.vlr.e !!*., l!' ! i i'.* t?-?v .* i ! .njc n -isl I. '>'! ' l! <?()<*<*. I . ... ill l . v.v /:? drUjf

Historical Newspapers of South Carolina

The Union times. [volume] (Union, S.C.) 1894-1918, August 07, 1896, Image 1