Newspaper Page Text
SENATOR GEORGE
Spub to li EatUcsiutlc AiJience Io
Vlmu, Uss.,
ASD ADVOCiTES TBEE SILVER COINAGE
He Is Firm for tbo Ratio ot
Sixteen to One
AS THE PROPER POLICY TO PURSUE.
A Full an-! Exhauwt*** History of th*
tHitoa of bii*»r •• Money Tha
Frew nt Agitation.
I Winona. MlfUk. July atpeciaLj—The
urt at »|w h •iHave-ieM h*»r* lu»t week by
R ntled Mtate' S. n ttor <•« • rye 1* co«ißM**t***l
f*i *ll »•!•«. an-1 n atajr rongr jr-ulati-ns
P ll - b»en shew* .-d ujwn him for hi* «be
Toe rtf a I qi M ->n before the |»eo|*ie »4>
daMtoed by Semilor Oeoriye i«» be:
“Hau* the p* •• le of the I'nltrd Stat-*
kreal t - t-.- »; ar» • 1 by the MnL-
«*i th-ir >l!» -:h. .r. it.*- claaaaw of
t * ruenitry «»-.J of Europe? Is thia a
• nrmment <M t«eopl% by lh.» p »ple
» *t forth- p aifde. or la it a r.v.inn.nt
wf runlt*, t»y |2te and for the hank**.
“I miule in th* term bank-.* he com
t aur i. *ir»t only th-*-* «-njcis>-dl in a str.ct
I* hank n< »*, hot a large nuafr f
others who are ho«i**r» of an I denier*
I» m-»n» y an l m »t.l<r>| uritie*; anectsla
• • I juabtef* m ag *cul-
tarai | 3 • . a- . i •*.
:k !>«n i»r lu** m« an* of cir.y»iM <»»
“Th*a -al has at prrarnt
th- a*p- t (a 'trorxle a*-»»ut the cur-
■ . but a «’o«nb:n;f .»n
of the gwmnmt by apee-al and prri
*ec**-l Wit* •« to ** r* . and then to ap.»ro-
. >vrr»m :»l granted for
Ik- i»*l of all.
kll« ■»!»• « ••rropi the Filer-11
'The % «i - : m -u y mr .*•* in it* p»«r
--r ,x.»-r. T s- purehaaln* power
b . .a*a II < I**3 b* so rI c »n> lu !r. been
r- »;.y . »-rai • « It 1* non |<rwpo*<4 <•»
e ait-e it fur ;*r >•> applying it t-a * new
in.t » r« at .-ay:. n- • :n
* i« i: .■» »g t~* nature of the contest
hta «» in; • n a th * tat*. an-l showing
’!»«• ..r »a. -t;»l in a nat he si-i about
It. S” u:-c ••co'sir r-ai •y. tracts from a
>»..»! 1.1 «$»»:•* an• > * ba-’k-T*.
pi I Na York, and dat’d June
u Was br.be the voter*.
■"1 is a:t •. -f *nd the sent-
• . e - ? it advdeal* bribery
; -i». »* men .i:»l vote*. !: pre
E n•:* t.» r i >.* r.»y ordv to enab'e gold
I t f»r th.* I’n t» ! Hf-ites
r • . : • - : their eanvanw- It prm
mi >-«-e hawing the beat of aue
r - . nd * .. m the fan is (ar making
. * - 'it. r»* are <%-nraa*e* for tbr
lb-..- * >.■
K :■ Il ■ I .;»r. f. r thr*- m»-n.
r*
. . . • I:
•• .rv • \j» •' •
■a of fl.***P «n each aiate »
* * t> be «**•> r ‘ r ”'
.mu h ng voters hiring Iflner
s>. t i •»< venal n-wr;.«pers -
*h*»*dd be ralapd.
_ ' ■ z i m to '- s ’
- .< t?*-ver applied in a
*•» of !?«*»♦ •• or m«»r»’. if he thousiit it
• r t » rate* • Iforta to ra *e the •rdtry
if anva** as tb* whre-t
• iv ?•".« I t- • extract In order to ehew
5 t vuure •• th- In u *»• h
- , lan
«iur • ••«»» BflW • •' " *
. *. i »» . all-I ••* ■”-!
j it..- >» i-
..f s.- •: > «*r r 3 ' 4 - “
ia tfc »»in .1 MW nth- rs '
. .4 11-.- on '.i!»l »•».
. - , v. fall ntoti-y metais.
,; s - -s and dw r a ley •-
h • for tbr payment of debt*.
I - w - ■ r »«* tame to
l n. r a I I- ma-«»r..e r-mas«
I. th. I -.11-1 . ». Ilwy b* 4 -* n * ,S ‘' N '
i.> -«a » i»» th* fart that our
; ‘.‘STLHSiarSsyaa
• .-I .-p-rto f «vor the g 44 mfr-ra
h , t<v ratio waa chan*’ > * >
• . i 1< to I- And in thl*
vt-.alts ». a:<l *lK*r
r i aan In our mint rvgii-
rt-’ y and coitiaire matter*
ahesi silver aa* •IrPyte
-• r t::-a»M into an
. . «»! the fraud by a hick
oat m ot >K<r was brought
. • .1 th. uwiiatwr it.’*
> . -wa« tae renalt -I a vw.-l-iaj-y.
I il> memi-r* l».lh l>.rv all! in Kn
r «- hair lh» auihutliy wl Mr. «’ar
k ‘ -“»•>“* Frlmiary.
i» • th- -»•»•* a't* nl |n lt that tran«-
r . .- rr It. >h In th— ir—nv.iy ..I inn.
..x .... I intl.i- I ha‘- li-.
unWanrc* drtnonalnilr that be
. r-rr-x t. The l-at:k> and m nry hoi !•
• this country have a-t»d warily as
urw In the conspiracy. TTIt- y had
th- t-wit; F« If-inurest to
• 'iruK«lr lor ■tvßaowellaatloa.
I n» p- a review cf th* atmiorte <*f I*rest
ir J..kill Ihi* •-"•i of *** , ' ni ” 4
I- th- nenatur »•■»< tm® “
of MUti-nal ‘
t? - snore being through them to in- rear-*-
I m of I'nltrd State* bond* and tn
•* •» st al! forms of money which they
al. J - ,»< | . After warring U|«m green*
a • r bond* would be
h . in cnbl. It was after this that
P «:tonal bank* «-re provided for. in-
P «»f the <4l a-** tatb-n. out of whi< h
I :• a . T • 11a* •'<l the
hi of the cflT- ns eincc to Lave
•I • tfamti n t< peak-*!
lb m- time.- said the amatnr. "the
«»• < ry ,-parttr.-.it from the H ginning.
c:iennLn being secretary at ine date
of the a«*t authorising eoinage), took the
aide of the hanks aa against the people in
against silver money.
Thougn allowed to coin fortyi’lght millions
auni.ally. the tn-aaury «h part in-nt refus
ed to cola more than half that sent '1 he
department regularly acknowledged the
just -e of the claim of the banks and bond
holders to l»»- paid only in gold, though the
law was plain that they were equally pay
able in silver, and idlirr was at par with
Cold.
bbewMin I-aw <»f Imimi.
aa Kofw ilh«tan«ling the machinations of
the conspirator* and the action of the
treasury department; notwithstanding the
ouuatea an I d-nuti- iativna of the m< tr >-
I-4:ttn press and the clamor of l-anks,
l-<'< lh"l i> rs .»».d their allies, silver nuur t -
th* .14 const it ut lona I money, the safe and
sound money which had served tne pe 4 »e
faithfully and well maintained its pl** ■ <u
ther rwHtidence.They were quite content
to m*e the money Washington and aelT<i-
F-»n gave them and the money f«.«t« r< I ami
trusted by Jackson, t’lay. <’a!l»-» m and
W- bate r Th- complaint the jw-ople mad
was only that there was n-»t en » igt < f
it. The p-■ ph* still d«*mand«*<l a curve’timi
of the crtm<*. as Mr. Carlisle called It. <-f
v- m-:»e! Batuiti. So In the house of
repr-r-utativ--s passed another free -o naxe
measure, restoring to the people th-Ir an
cient constitutional right to use l<wth g-*’4
and silver. Again the banks and !• •*nd*r»td
ers and their allies srhem«*d to dof-’tt th
peupb*. They for«-»*d a compromise thrmyh
th— a-*ti<»:i of th— senate, and the Sin rman
km was t*o* result.
**Ua..ng defeated free coinage an-l sub-
Ftitut«*«l for it that misvrabh makvhft
f-r free linage, a pur* has-* of a limited
quantity only of silver, leaving a large mi
-otnal l-* Furplus, the bank-* and ls-’i Ihold
er* an-l their alii-s urn* quite < onlrnt 10
Lt-h th* ir time for the re-enactment <-f the
law of 1*75, prohibiting entirely th- furth -r
co nage of silver. They knew th-* |»ew« r
they j- aarmed as th-* «»wn< rs and <l«»minaiit
rontrnll- rs of money and the tinan«-»*s of
the w«vdd. Tiny a vie ini|>h‘V« d with the
n- ■ «»ty for final an I « *»n»4’isive a<••i-n
putting an «r| to silv-r as noii-i. For
-• r th tir.-t operatum of *he Sherman
law an-l the vote* of ctrngr-ss on the fr***
coinage !<ill which neem'-l to presage ttiat
we n -re on the e\e of full r» monetization
by the l*n.:ed States, silver bul!i«»n went up
t- f! 7» an ounce; uithin a small fraction
of full parity with gold at the ratio of 15
t<> 1. Within a few months after the en
larged um* of silver provid' d for by th«»
?**• rman act. the llartng failure occurred,
e hb’h sh'««»k to its center the fabric of
British flnan-•• < «>m|w*!hng th. Bank of
ij.ri.iri'l tn Ikorrow from the bank of bt
metalhe. FruiM-e. f.*A*wM.*H* m gold. Thia
enlarg'd use of idlver thus authorised by
• ur law sav-d the I'nitel Slates from ar.y
r-ricis disturbance from this panic. This
Is a lmltt« I by • v» n the enemies of silver.
Th*s he||«< 1 the fme coinag** ser-timent. The
conspirators mw the danger; yet lh- y sere
eonhd-nt in t! -ir power, an i they wait- d
pst: ntly for the opportunity to strike a
>U.*-*«FfUI bio*.
•The preparation t«. repeal the Sherman
law and its hnai acr» mpHshm-*nt, shnv- ing
. ►. ....ain» was
fully di*- usjm-*I by tiat-ir tSeorge.
I •' i.feud'd t* make no mibtakc as
to pr-paeation.*' said he. **ln the • an-
-.* i t a-rv to Im- unfriendly !•» ac
tion by the ’ nit- 4 Sial-s al-»n--. The man
a* r.< fro-n v .a!i street sue. .. •« din i
tn i.a: convention of each party to
e
«• nag*, and y-*t I v artitb*e and it k not
jp • the <-"nstru> lion that an 111-
t» ror t | agreement aas live- ary for
action.
•• the situation was one of distrust
an 1 danger to the conspirator*. The p»*-
ri-Hl was critlcak The time .*♦ «m- d to b<-
• •pportune. An effort for r-nton- tization
if not Fu.-cvssf il would only h-.iv the '»n-
Fy.raiora in th. situation th-y th-n • u
pi”d; if suet*-'fuk it would make them
! rd- of the w »rid Ho al™.at the |a.<t dav
-»! November, in th.- fateful year of V •>’.
the> dbrniir? 4 to strike the bh>u k
as the liLsunng tr-.m the -ollied tusb:.’
As un- xperted a« th-* lightning at mi i-
• !ay from a dmi-Hes* sky and with th» de-
Mtrii live tore.- of a t hull-let bolt, th-* blow
fr'i a, ai th. inno-val vi- tim> it..- p. .j ,
or America. ’’
H uor -: dvs. ribod the ne tho.U
L_. whivL the bunkers created liiv panic vs
1 ihiimvlnl Mtuntion %ov ember :i<».
•*l*-t us turn our attention again to the
titaiit.il situation in the fall of PC. w h-*n
tie i-auic iiutUKUiat. 4 and to th- sit
uation ail the lime during thv existence
ot ih«- tthvrm.tn law. tins situation for®
I • '
♦
what has already Im-n arl is i..»l sutti
o-ut proof. ««Misider the lollouinK
*■<>;* th- .loth day of N-JvemiH-r, IKC. th-*
end of the two months of an < \ « us
gold init-ortataons into th- Uiutcd Hialrs
and the • ve of the p-nod uh* n gold rx
ponatkms w-re to comm*n • by tht ac
tion -f th* «*onspirators to comment ', the
situation • xinbited no signs ot in-* coming
storm. V>ur situation as cotton growers,
though impaired greatly by th-- «i< motivti
anUon <»t siiv- r. was m -re favorable than
H ever has been sin- e. Though not a
ja-.« i •• as 'un.]Mi'd to th-* happy time
wht n Sliver was f reely <*--in--d, a- 1; was
brought to the mint, il was >et a heaven
Its* Il as compared to th-* distress M nd
rui3--r> into uhtvh the conspiratvis ha\«*
plunged u**. < m that da>, the s»lh us No-
vember. IK«X notwithstanding w«* had rui.s
--«4 a;.4 m..ik* i«<i thv large.'t amount
of cotton ever raised in three su<'ce.»ive
la eg .st ever grown, th. crop of th- >< <-ond
l— .r _ l.irg-r than the first, and that of
the third bring larg-r than that bring
»i,sr’-. -•» bales In all three, imm-n-• .y larger
than Ihr «r-|- of any pr«*<adh g sur .
thr» tears I Fay that on that day mid
dling upland < ult-n was Wurth H L» Ik c nt*
j-r p :I, w ithin a vmali tracUvu of ; v
a tele.
*T no- r the Influem e of This panic -
made to «»rd- r it wav ma le 10 dv Ln-*,
with slight temi-orary advama and fails
can: 4 >|**’’uL»tors, till it i«a hod 7 lu-ls
cents; «u the ?Mh of August, ix-O, a la!l
of X a-M o-tits per potm 1. -»r on a crop ot
bab *. a Imj-s ul ou the
crop of one >-ar.
Tbr Allrard lliiiikiiia lira lees for
M«»nr> .
’Th- mssts.ty for banking 4-vt’ •, de
\! 1 .
tn-utt; i.nt m--n< y volume, makes the p o
pl»* tohrate them. If w«* had ir-c an i un
limited coinage of silver money to supply
in |Kirt this insufliviem*y w- w uld have
no n«» I f-r these devh-s; w.- woiiid have
a brva-h r Imais f-»r credit, and also 1- as
i». • 1 fvr the - toil ft 1* N-*. I I t il
you that the bank' ow*d In oLli-.c-
tions payable on 4*-man«l Him- times us
mu h as the rash and «a.-h items th- y
had with which to m«-4 them, or
tint's ;**« mu- h it -*\ Ju l-*
banks. The result is that with the l-ast
dudurtmnre In financial circles an>wh«re
re an* in danger ot a panic; and Ihu
banki* having control ot all this curiously
dvviM-d ni.«rii.tiM ry of vr--ht may bring uu
a panic whenever il »uit» th-ir Interest*
r . do •-».
i:gv«*t«* H' |mml on Prive of « oftwu.
•*As I have Flat--I. -ottoti was worth hi
N-w York on the .s-th of Novcmi-er, Ivc.
when this ma-ie-t«»-or.l-r panic .<«t in,
• • nt*, having ri>-n to that point win.-- S-1-
temts*r Ist. the oi-etiing of the m . .»n. f-om
7.•. !-» F» -m the .Mali of N—v-mber.
p*.-5. it continued to fall, but though th-*
l«nnic was going nil did n-»t fail below
.ents till after the 2St| of .March, iv.-1. Hit
rontinu«4 falling till it r. a* h« I 7\ -.ms
on the 3Mh of Auxuat. P*:. the - rid «f the
■
•
an-l in O’t<»i*r from k !-!♦• tn and *!<• •! at
X S I*s- ent.*- on November 1. the -lay th-'
Sherman law was repealed. We wvr« prom
ised :«n Immediate revival of b'udn«*>> on
the r- |«al. --•ritid- n--e was to b.* »<Mor d
and th* countrj v as arain to l»*t happy mid
pro.-puivae. Ivl voiion on the day of ths
THE WEEKLY CONSTITUTION: 1 X MONDAY, JULY 22, 1897>.
repeal was higher than it has ever been
since. It kept falling from the day «»f th-*
r-*|M*al with only slight and spasmodic and
short-lived advances, from S 5-16 cents -hi
November 1. 18R3, to *i- B cents on the 3uth of
August, I.K'M the end of the season. Tivs--
are New York figures, and my statistics
f«T N-w’ York end on that day, but com
parisons as to rise and fall may be as w’ell
and satisfactorily made in one market as in
another.
“I p to the end of the season In which th-*
crop of Im«2, a short crop, was marketed,
-•otton, under the influence of this restored
contidem e. fell pi. 75 | H *r bale. Th- rc was
no confidence in business matters restored
to th- banks, for they had lost none. The
r«*niid<*n<e they got from th- rep al of the
Sh-rman law. or rather its purchasing
clause, was that absolute <*ontlden<*«* in their
power to control congress, and through its
aid to control or dominate not only the
iinan«-«*s. bm the whole business in(cr<*st of
the «*ountry. Th.* price of cotton kept on
falling. The s«*as«in of 1N»I opened with the
prl •• on Svpt«*ml*er 1. IMH, at 67 46 cents
for mi-hlling cotton in N’ ew Orleans, it
nw. r afterwards got above that, and crly •
r- .i**l»«*d that llgur-* on six suhs«*<|u« nt -lays,
fallfag Is low 5 «• nts on two days in Nov n
b-*r and keeping a shade aliove 5 cents -
hss than a half rent Uli March Hth, an I
sh» 11 it went along und-r 6 cents till April
11th and then it went to 7 cents on May
"••th. and so r-niaim-l till June 7th. an-l
th- n it f- II and lias remained below 7 » nt*
ev-*r since.
“You will take note, however, that rs late
y- ars one-half of the crop is marketed iy
the middle of Novemlw-r, and the small rise
which cam-* at ia. t <-.im<* wh- i- nearly i ll
th-* cotton had s.if.st nually gone out of
th-* farmers' hands.
•The fall as compared with the price the
dax the Sli-rman law was r-*|»-*aird w;.s
over SIO a hale, and from the time when the
t anks inaugurate I th- panic November 50.
IN*2 about sl9 a bale.
•'Such my frk mis has been the effects of
th- r-|M.<| of the purchasing clause of the
bhriman law.
••But our gold friends are fertile In ex-
zz- 1 'Ww
■
■ ■>
■
SiiWIOR J. Z. GF.ORIi!;, '
lhe Father of the True Bine 1»» iii-mv in Mh*.k»'ppi. M Iu»m« speech at IV-n«oia la the
Talk ot th** state.
rtices forth failure of their programme.
Having ma t* up their miu i that snlv- r ,
cuiiit::-* is wrong ;mi a stan ia:*' (
to u.*** th* 1.4.1 Ot Ml • ■ H * • I- »■ ■
th«*mati* ally an i m-*raphys’- ally imp»*r >i-
•
pr-’ii tions, y-i 11 ..ili.ng to ackn-wh-iM* I
they w- :** nii.-t.ik n, th- y Jinuai.v r-* U
!*.*■ soim* balm l*»: tfi- u* wound* i Fpii-t s |
an-l in tins im-od th-v stumble on the iat •
crop of !V*l a; If -u •• of all our wo» s. i
<io not -1 fiy that Ir*- crops dimiimh p’ 1
ami small -m 4 - nhan- r them. or. in olh* 1 i
words, 1 a- knowt th.* pot. m y ot th. (
iuw < f sup;.!;. ;->■-* 4-m.uid. i ilia'l hr* 1 1
ui- ;ss th oti h. ar ci overpro-iuv t on, but (
j i L here it .-«vms to be appropriate I” ;
Pmt. stir-* th i-il bubl-l** floating 011 tb«
. r,i- 1 .11 rs, w ith wh h » •• 1
di>. us .on on if.. I ait of our gold fn-’mts j
is 4 ha! o«- t •••* *• I* l * • makt som* <-om
parisons as to th- « ft* cis of increasing crops
on ti ep.i*»■ of c-.li ui when th->'• crops on
th om* hand < . i.n und-r th»* inrtu- n. .- ol
th-* addition to on «ii!t*e - imide b> th’ - _
Sh-uinan law. ano th. i ;Und-Aihs-n act ot ,
i>;>, an ! on the oth- r hand under th-* in 1
fl a. n. -of th- nr al of b»th, ami n total !
««ssatiun <4 the •••imm-- •! silver. 1,.: m- ;
pr t..«. that whi . 01’* large crop afl- ’s •
proas, it does not -I-stroy them; on-* sw. 1
k*w doesn’t make a rummer. Cot tun. un
hk»* mo-t <uinmo liti-*-. k* •| s without in
jury lor y-ars. ami i** .-. I* > it n. v- t go.-s out
us fashion, h tak-s s. v*ial > • ars tog-Up r
tu im;ke a d- trm tiv 5 ill.
Th-- rup of 1 <• tlvmlar wain, n.aik- t-
«<1 during th * ; *a*on - r ling Align l ..1, I'.*',
v. > tk< laig’ st «wr grown up to a .h»t
time, amuuulin:; to Lab* 4 , olid
the u xt - top of r» was larg. r than that.
amvurtUng to u bah s. ami tm rxt
crop of INtl ..tm uui’ «i to 9.vlx <**6 tai-s. All
ov r 4,ro",«uu gnatvr than th aggregate
t . , ••!.*: i ••■-. I
I--, ani ; ul ; h last awt* r* was th’* I
!ar%.l of any oth. 1 tbr-’* pr. hug >-ars.
S'* Cat these thr-v 1a:..-- - top o. ]x!M I
and I'-sl -..ni- on the h- Is of the largest
-oiton production -\-r known; yet price*.
■ ■ * x ' 1
> • iiK-r ' : .z.itton. madiiim-J th-ins* !.- s a.l
--r .rablx duin.g th->-* thne wars <f P'»'
I t- ami IM‘l. Th* fii>t of the . . top:* ’.mi;-
The - rop of 1X9»» ranged fr » 11 11 S to S .•-■nt*,
n. v-r f.tiiir i l<»w < «•• nts ti'l lune .7, I<H,
w • n r- ariy all th- etoj* ha 1 t»-» n mat K» ’«* *•
lb oil* I tfiis was >Co tli larp st -top
ev-r rass-d, su-*- ’- am the larg-*<t crop
r Im for-* grown. Th— crop of jxsl. bc-
•
< «>ps ( V-r grown, and which, w ith th- two
preceding cr-.ps product d th-* large » ar
pr-uMtc. within a fia ti- of "mi bales,
and Im ing mon* than P'* larg* r than
lhe aggn yatr of :-ny thr-.* preceding crops
•
I in* s I.tnging from M_. to 7 cents, f-ing a
\'*ry Utile under 7 cents for less than nine
ty -lays in th.- months of Januarx, Fehma
rn. Mat’ll. April and Xuvu t. ’i he.rop of
the next y> ar. I*9?. was also sold an ! mar
keted und-r the Sin rman law. and, being a
C..rt rop. the pri- • o; •w 4 at 7 cents on
S’pteinber Ist, ami adxam- d, <x» •pt four
d ixs in Sept- trla r, till it rea-h- d 9 11-16
*»nta «n Nov-niher 3”ih. when this panic,
ns we haw ?-.*». was inaugurated, an t
kept steadily jitM'Ve cents, notwithstand
ing th- pan . Uli Ma-« h. and n- ver got as
low as 7 cents.
••Tli-ui tin s' -rman law wa* rep’al-*d and
th.* next crop was a short on-*, ami cotton
fell, as w»> h iv* seen, from the date of the
i.p.’ ,«k till it te.o h.sl 6 7 16 e-nts at the
end "f th.* <. a:-..n.
•Then < atm* that of IWH. not only the larg
est of th- thr- . but the largest ever made,
l .-.ng now . * lim it- Iby the m authori
low that fell. Now. this crop of IX9I, to
gether with tin* two pr-* bug crops
amount. I to onlx ?.71-i.""" bales, being in
the aggr-cai* bah 4 !-*ss tluin the
three crops which pre-ci. d Ui- m.
••fji.:, . t!». . » otidll i- cotton oili-ill not
to have fail-11 l-i loxx the price of he crop
•- c bu being nearly .« nn’ii* n an 1 a
quarter Ual- s ehvrwr in thv thivc J*tar»
preceding. It ought to have risen
higher than it was at the end of ?i a
three years ami a part of th-- second of t .
price at the end of those three years
2 cents a j-ouml for most of the season. The
first three y-ars were all market’d under
the Hherinan law, nml the first of lhe la t
three v- ars. :ind a part of the
three last was also murk- ted under if. and
tip to tin* time of the rep.-al, Noveml- r 1,
11H93, prices kept up very well, an-l it was
only aft- r tin* repeal Unit the disastrous tail
oceiired. This is demonstrated beyond con
troversy In the disastrous off-ets of thr re
peal.
Free t'olnnge.
••This brings us directly to the great Is
sue: Was demonetization In Ix7l an
t«» th-* country, and is remonetization prop
er now?
•‘The first question seems hardly worthy
of dl • ion, it I ' 1 ■ M ■*" ’• ' •
ri’ior Rtoiie, the ean-lidate of the gold men
fur lhe seiiat-*, d- lares it to b-» la-th a
wrong and a blunder, and hep- s to s «* it
corrected by an international monetary
e-.iif- r» nre. Mr. Carlisle declared in I67*<
i that it was the result of a c-»nspira<-y form
ed lore mid in Europe, ami it was the
m. M gigantic crime of this or any oth r
ai •*. and that it would ultimately entail
more in's ry upon the human roe than
all th- wars, p-stilenc- s and famim * that
ev-r occurred in the hist" y of the world.
Ami Mr. Carlisle was right. But it will
help to He- this blunder ami appreciate this
wrong this crime of all the ag-s m >re
-dearly If we tak* a. short view’ of its a t-
UZI e.inseq’lem*-S.
<l% r rpro.l net ion .
••But It Is nguin said that the fall In
prices is attributed tu overpn du**ll*ui. In
one sense there is overproduction and that
oc. irs whenever im»r* eointm dities ir
pre-im -d than the pe-.ple ar- .ible to l-uy
at fa r and remunerative prices, and ti* 4
kind <»f overproduction comes whtn-x-r
th* re i* < **mnief<-ial and financial distress;
when business lax und - nterpri-e n 4 > e.'i
peie-1 ;ind th.* r im of U: * | I'l'jn
diinlni: le d that th* > arc unable t .
their aceu.-toinvd pur-hiiaes. Thipt
ov r I'M.U * ti-*u 0.-xx affe *’s 11.: eomi.i f
f 2 "in ;• . t.n; t e li;:-. - u;i* my, as . unp.it- 1
I With the work imo.-,x has to du, a .«< ar- ity
I’ ’’ n" • • t». 1 Ire .f j .1, .i* U nd of
the pr .du* 11.11. u | ha\. 1...f0ie nie a
table nil!- by ou«- (»: u,. no .-I int* hi; -nt
m n 1 \ . k. - w 1 |.u«h. rof Kansa.- in
| which I • .i.f.. th,, ax.;, 11S *.-r
”1 th- I'arnoi: wh » r.u >1 . urn, . <»t
t< u. o! ,* an.i ha? f.>r p.nod . f five y* ars,
! ’sunnieu. - g in i>g*; an-l ending j n
I• vur t.r pr«-duds jt r acre were in
' •’ ' 'H • :• • .1 p. • t. ,e. an ot
U’’ v * _j'"-‘. <-!] r aci._ and in 1x94 Ho y
I *' , Hva,u “ I' ■’ ‘-I’ ootton
I in li w. biing this d-wn to ivj xv*
hn l th.* aver *. pi*, duct of the c<>tt" i
■ • •» 1 il. »i loan $.» r p. r
. TL *\ v * , r als-* adds tut it is
’• 1 ■ v P' 11 th 1 11-.- j. ; 1. • , ~f t ,
I . iituiai j r*. im i- > have nut ex< .1-
■ "" * • tiun; . that . , the
| tinny mnii .ns of work, r on iar ns, th--.;*-
x\ Lax w«H k 4 th<ii* \\ a 11 as*, have
mad- n.» n t.- than r. a -*>n*<ile wag.-s p.r
• IL| • 'ikiit. i labor, r. ai d . -old pun has-*
»• I. the b.He m-i*. ari- s <.f If,
i xx.-li to ask ih. firm.-s r. w present
• j"v-"sh a '
! ■*■ I 'I liv-- y. u-s, h.is |ir,«h...
more than a fair 1 for hi w.»rl
i • I'b 1 > map.- 1 knoxx 11. If thei •
! i.ny who iiux, dui..* b U.-r inau tills
> • II S U!).I h.t X e I t 1 . ;; j fli ul %
you - ■ \ ■ . .■ '
<1 a lug p- v. • r .1 tin tint l y in
fanm-t.* m toe l uit o States ha ?
1. io • I. .ot *■ m- .H l. to bn. .<
th ■ «" * . uu: It, ’hat th r ,
st rm* thin (it th** p . ha ang j*. ixxy
p. upb*. In<*|. ;.-.* this purchasing
th. r.* x*. li be no s nplu . h
“But our ■ I fi ■ 1 ! *b .• a f•’
; h.ix* t » mak. th > . I
stale! • u th<* quick Uld Ul.it lop ¥
‘ 1 I ■ > 'x that if We . ••*- 1- ni| •
Veil at 1..W p h-. XV a! o |»U\ ‘t
I: ' . .. id it. th * » t.d th, r. i n. di f. , u..,.
! I--’ tbo :-!.elite; ( r tl* ’• •> w4l La h h
!’ ti nt in our pt e -.-nt sit anion. e. nnn t"
. . ntinuo m inx' years low pri. l . s in pur
el; .-? can I*.*, n. compensation for low
I t • . 4 it. *•11 - . I . id. s .»ur • uodit ion is 1»- >t
\x. have inti continually filling prices and
in.t stab!.* pr >. ex. n when very low.
*'l'h" I- xx pt... of commodities, h<»w
--•v r mu. li thvj may ndtu-atc tm* sutf t
ir;: ' those who !:av«* n * d f.»r im»n y
only to mak,* pur. ha .s, aro utterly dv
alru< live t » tb->•• who ox*.- d-ins.
Thr ttuliu of t<» to 1.
“I noli.*.* now the i.;sl dit- h in which the
I’oid stand.-rd m» 11 hax .nir.ach-d them
s. lv 4 They ass.-rl that th- murk, t pri •-
for silv.-r as a commo lily is about to 1.
and a xx e have uiu (-strict. 1 emnape xx xxiii
have a ;4>-< « ut dollar of silver, ami this will
drive out the gold, ami w <• w ill hav- silv.-r
niunoimuallism. I admit there is pUusibd
ity in ihi.* argument, ami it m-. ~s to be
met with < indor and f.urm s*. Th- fr.-e
coina.* • 11.. n mean to have bimetallism as
Wv hud prior l-* IX7J. and w- do not in.'an
bx aux 1 ish experiments, liow< v*r much
pi t •• cur country in a position il did nut
oe- upj prior t 1 that dale.
• | ail..- that law alum* cannot tlx the
valm that : . lie* .*x.*hanr. al>|e value <.f
anx lhing. I' • -uirr. 4 should - naet that
the raliu* . f <*v ry bushel of wheal sliuli
be on. dollar and of every bushel of corn
a half-dollar and of • v ry pound of < «»tt<ur
b» *»nt*-. I admit that it would !•« utteriy
worthle •**, and that th-sc articles would
E-11 just as if no such law hoi be. n enart
•4. I ai.- » admit that If congress and all
th.- parliaments in Europ- should --na. 1
that silver bullion, or that part of it nor
a »:uitt<-l to coinage, should b.- worth h-v
<*. nt 4 an oim-*e su h a law’ would m»t have
the li:;hl- t ♦ ff. *• t on the priee of • i|\ r
bullion; an I int.-riuit ional art .inent b«*-
t« en the I'nit-d Stai s ami la.- principal
nations in Earop.* to th.- k.iuh- .-fleet would
he uit.rty valueless. Silver bullion unco!m*.|
nnd umoinab’. would have the satm value
as Lef.uo. I ‘.ting but a cotimodlty, with no
11 * but t comm * 1 ■ / 1 • . ■ vuluc would !>**
tix.nf bv th. market s-h's the deman I ami
tin* supply. Then -nine one at fust blush
w »ul-l sax: Why hao* free emu 1••• al th A ’
ratio of PJ to I. or at anv oth- r ratio, /
ther l»y the ind*; en<!--nt a.ulon of
I nited State.; or by international
m* nt 7 A olution, I am sure. wih|.
5 -in I in the followia ; .<r l.b r.ri
Whilst it is tru.* that law cannot |
rm re cn.-o tir. i-t glv value in an*
law < .in im r- < • \ab * * of thin? *•'
mlnlsh them l»x providing for »•*
for p-irp'*. or prohlh ■ Ing t * ■ .
purposes which arc highly c .
purposes lor wnkh the
Jrinankiml is gnat ant urgent,
example in iustury ut n»• m
vuiue ot a commodity by pro-
V ,lM greater use is in Hie uiu laws
?? land, coa< :- d to raise tm* price oi
[ .;I I I 1,. . p. I SOU Should he hlll i’ d
I J **• • -irouds or clothing mad.* of
l»«*ceiit burial is a neeissity lor -*v
’> uman being at some Uiu-, ami tniH
' ‘(email* lor wool, in addition to
’b-manus, Kept wool ala hh',l
- A' * s ' 'l' monetization ui siiv-T ill
> a i i>u'ii ot tnese citects; it pronmll-
X'-'i a lai:;.* measure, the use of silver
R’ "o-i. a use to winch it had l-et n put
of: 1;, ‘ *‘iid lor vim h it is a-inUraol>
| vl ''L Knd ui course silver became lss
* bu m comparison with gold, which
’>?•*■ Maine act was increased in price
't |** long it* sole us.* as primary
&V. As in case ut burial wool was es
\ W' l, Hu * n us,n ’ ss every one must hi. ve
■y, and gold alum* remained primary
I ( Ry. A very little reflection n*Ml uniy
W>ad(* to prove this beyond doubt, if
1 i s<» in lefrrem.e to a thing which
rR* world could du without—for, though
it" would be greatly im-unvciii'-m -d to do
so, the world van be clothed, ami clothed
fairly wall, without cotton, by substituting
; for it wool, silk, flax, h»-nip, ramie ami
other textiles why Is it not true with r»*f
<i'*i.<v to that thing without which the
civilized world « annot live? th-* most »x
--iir’-nt and * -'s.-ntial of all human demands
money which in it?-.*lt and of itself sup
plies every human want? He who has
money enough -an want for nothing that
is for sal.- m ail the world. Money I* in
fact, as was w.-il said by an eminent
‘ litieal economist, an order drawn by the
gov eintrn rit, in favor of the owner, on
;.'l i • rsoi.s who have things for sale. Pre-
s. the order, and it is always and every
vv hen honored. A man may have a sur
plus of any comniudity which he may *!»•-
ir.* to - x* atige for some other commodity
win* h he needs, but he may sperni -lays
ii» Jib ' a man who wants his particular
• <Pi’ - liiv a: | at the same time has a
• t. • particular commodity he
w net But e\.*rv per -ui wants money,
31 *»*w a* : 4 it nior«* and more the mor.*
* ’ ■ 1 • up. *i* .*•• i ii- !
' *•> lx ui' l willing to excange any
\l.odiiy ho lias for money. The
*mey is Insatiable, and it is
. <»t I for th** reason that It com-
.-•sirable »nrthly things. It
,t only that whl.h satisfies
’ in*s’, but all that n lmln.s
pr is craved by ambition or
• friends, that xvhat 1 have
vhilst It does completely »s
--•ratio aci( . I .»n h\ all man
fviold and silv.-r coin would
•o nearly *o that variations
p! .1 I - al' hs ; inb S« -et it
r *lish b. vond a d-»uht that in
I. r th. I’nited Stales alone
, though 1t go.** a long wr.y
admit tiiat you have a right
■at I g«» further in my proof
- *nt tullv to the proposition
nite-l States, with the other
l-le. can maintain tills* parity
t’v co-operation of sum.* of the
/- v -'rfiil na-*o»:s i*i Europe
, 1 t on •• T believe 1 this <muld be done
0,/ M*..r a limited tim-\ yet. as I State-1
t tbit limit 4 tirin* would .*• t.-n-l .1
Tom: -li-aanvo into th- future. Substqm-nt
tion and subsequent experience in
actual ev. nt?* and a more thorough knowl-
< I • <»f the pr» sent am! past monetary
•v • ihs of mankind have satistiod rm* that
that long |>eriod in which free coinage bv
th-* Independent action of tin* I’nited Staten
without the <*o-opel ;> tion of the silver-USI tig
r.itmuH will k.*. p rim n * talo at a parity
v i'l .‘xt.n l into an In 1.-iinit’* future, as far
:•!*. ad of tm .s existing Institution: ot any
kind are likely to remain.
"In order to .let. rmin ■ what can I— done
bv human action, it is w.*ll to <on 4 i.|»r
what has been accomplish'd by the name
I’.iri! ■ th** pres.-nt century, up to is?-,
th mnk. t va’ue of gold and silver vari’d
but little from lb’- !•' Tii. 1. ratio «»•' I *’*,
t > 1, .*( neiaily a little a!>uV» it. an.l ocuu-
MOII ili> .1 little below il, and this stability
in the ratio was maintained not w ithsiand-
h. that from 15‘Jl to Kii, ami even up to
tm- xear L>9l. th. le was tin greatest varia
t on in th. relative pr. du -ii.ui of the two
ii. taJ., v ir\ n.: fiuin 2*9 -. ills’ .-orth us
nlver io -uh* dollar us gold in D'u-6'», to
i -.-1 sii 1 'o one of gold in the years
I- ' an, n °P c *-.g between th-s.* two
t. i iTqr ».**»,<. tune. 'l’i* (tmg th.s.*
•• t ■ ab'’ *ies nn-rely, to be sold in
th ”vp i>n-m*»nciar.v uses, the
-.tab)',; j. would have tn*, n im-
*• ,w tiiul the increase
. . rfr ommodity l mis to
.-’’nd 1 d--< lease in the
| 1, * •• • its \ alu* wv*. e
•h;.t ths un.* uth« r thing, some
• • 1 * S I| w 1 .•.slution during that peru*d
in.u tie* inuik. 1 value ot the metal* *>r
< .mmoditie wLi- li prevented a varla
tio’ in tin relative prices ut gold ami sil
ver with tie* eiiormous variations in their
relative supply.
"I bar tiling that force was the birnetal
iu - : I arc. ii.xiug tlie ratio of pri- .* al
i. _ to 1, ami tins beeins no-, to be agreed
Lu by ail can-nd gold niolion. •♦.-Ilists.
“As showing the pot. n.-y of tht. French
law by itself, 1 will noti*:e th-* other agen
cies operating during that period to destroj*
tin* parit.v as fixed by the French ratio.
\nimi.; tae.:.- ale; I s-mom-t Iza t ion ot” sil
\. * bv Emhiinl. dvniom tization of gold
le. t.erman., (taking place at different
time ’, and. I b« m v«, bv the fivamlinavian
, 1:. 1 tm Ju . tl .ft 1i • ■ 1 i.it. 1 States
had a diiL r-.ut ratio, v:z: lu Lu 1, till
ai . a.l.rwar Is al i’i to 1.
I ran . was a H. t < lass nation during
th.; j--nod, but during a large portion ui
it . 1 ~.1 < 4 in must i i.imnis ami d»-stru- -
Liv> 4 vv..<s. But I’rancu was not Uiu
1 • u. - "nun- t ail nation i digl«ml !»• -
i;.;. fit: 1 tii» n as now yet with all these
varii-ton* in th- i- .ativa* ptodu- tlfui of the
two metals and ali these in the
i> on. iary sysi. in* of Europ. and the
1 ■* 1 S al* I - r - !i.*ld tim two in* tats
• nln*re at about the ratio she had lix
* law. Note, 1 said the parity was
■ 4 ev-ryw here
avv a ri;ht to demand of me an
of tids. Tiie explanation is
was a great and rmh country,
it to s.-il and buying much,
mom*- yold ami sil\*u was
ax : will b* in insulin lent sup
-.4' ol the world, as witm *s
nd dang. 1-41 s devices tu sup
whiih 1 hav ulludwl, doing
>t cash transa* lions un con
p-T rent only in nmm*y, thu
til!'- <• hili’ • tin* Wh-de vol
'rrvUCy UH i eight times their
wing in d- in aml obligations
much as their ash and cash
tiie insuil.- i- m y of sm h
i. n ami is now f- It every
ndtr th« c conditions a -iul
uic, good in France, a rich
unto, wan equally good ev
the civdzed world. But you
1 »y tli-* stiver franc, legal ten-
in I* ram e. was equally good
* u .a monoinetalli* countri-s, less
. transportation to France, when
it ’ • . 1 •« !• tender in iho.se cuun-
ti " The an. v.ri* is, there is such an
uir.ent. such an -overmastering demand
for money »very wher»* that money, good
and 1. :*ai t- nder in one great - omm- rciai
-•-•uniry. meet*, this rxi-.*.-*nt demand every
where. <>ur pr.* «nt .>)-< ent dollar, as our
~*ll irien is call it, is worth UM) cents h**re
.mi worth tin* same ali over c.minier. in I
Europe, less the usual cost of transporting
it t ■ New Y .ik. Then I might ask our
: i!d friends In return, why Is it that gold
v.ortb in China the same as in London
;:ml tn N York, though not r-cognized
is moll* \ li*-r. .' The answer is the same:
'i’i-.- m< i of tin* xxorio Lu* inon*\ Is such
1 hat either gol<i or silver, recognized as
nOl •y, l. gal ten-l- r money, at a <•« rtain
value in any great commercial country
or countries. Is of the same value »*v-
< ryvxhe!.*, Th- ii they say the silver mon-
< \ -*f <'hina, Japan and Mexico is not
• tii much in other countries as .J
honn*. The answer is that these voilil
ti . s have little foreign commerce little
< >.n . : comm’r- -* and the economl-*
V). b hind their money nr.* net. tii* r«*-
u .pt to r.r *• i' - value in other
> pti i* t» * h»* h am- I- v*4
\ spe: k* r xvent on at length to argue
th.* |m)w- r nml wealth of th.* I'nit»*<i
I . was suflicient upon which to act
» -emh iitly without n lying upon other
V* fms.
I ti r a feeling farewell tn his hearer*,
j* *iior George retired amid gr.-at ap-
, * H CA.XT'.M a (>lU> TO MISS A
' GLE COl’Y. OPI-OSITI! VOCK
~li; <>X Illi: TA.; WHICH Al>-
I- CSSES Vol It I-AI-ER. THE I>A I E
1 * JVE.X o\ WHICH YO< It SCIt-
1-TIO.X HXI-lItVS. WATCH THE
E AXI* SF.XD IX VOCK KEXEXV
HUE. I’ olt Tllitol GH Yol It
I, AGE.XT BE I*OKE THE TIME
- SO THA I" YOH WILE NOT
-XI-EK. THEBE AKE AIiOET
•*i\e nrxi>i:i:i> si it
*X HOSE TIME HI XS «*»( T
I. WE WISH TO CALL
EXTION ESPECIALLY
"ES. WATCH THE
OUR PAPER.
GOU> IX SOUTH AFRICA.
o.vr niuTKlvr xirnr.issixa i.v worn
rnoitucTiox rm: i xirr.it sr.ins.
llllllona of "Oro In Slirlil" Mnnv Men ll»t(
.Mmh Vast l ortiiuf* ami **»» Fx-t'lrrns
•lugglvr 1» Worth BAO.OOOO O.
(Copyright** 1. lx*'..)
New York, Juiy IM. Fur now almost a
year London and for that >.i:»ttcr all Eng
land have b*rn slowly growing m -re and
liiorw excit*ul uvrr the guld min* < us south
Africa. Whhin a year mining shares
that were issued at a p und per -h.ir« and
often sold for only a portion of that, have
sold up as high as £23 per .ian*. and there
are plenty of people in England w h*» be
lieve that those same shares will t >
£IOO. France, too, has caught the ex. it. -
nient and is pouring its m »m-y into south
African investments and it is nut imp • ibi
that mining shares of the s<»uth \fri-.n
properties will be list' d’on the New Yuik
fe fl
'Ze a«z
V ■! r
S J. P. P. KRT’GER, PRESIDENT OF
THE TRANSVAAL.
Ktork exchange within the y. t»\ pi q its
to that effect have already b—n made.
It is rather strange th:U this country
which has so kern an int»-r»* i in b- nis
of every sort should have thu • r pi :
little attention to the rise of • •ith Afri a.
Thu latter incident eompris the m l i*--
inarkable commercial i ,ir . e » f the
century. In exactly ten years a slate t i-n
wild, unpopulated, unexplored, aim d tio.ii
producing no gold at all lias i i -• n t»> th.
first gold produ uig country in the w aid
The single little di-tri. t kn-w:i as the
Wit water.sru nd in the Transvaal or *<»u»h
African republic, will yield t - y* r i:j
wurd.s of worth of rdd "I II." e
than Um* product of ail A ii- ■ raha -r «■!* in
entire l.'mtvd State . T.ii*. iittl** -i ' t
is, so far us its prodm uv- an » • con
cerned. not over 111? ■-u mil* s v. • . .cd
about nlxty mile long, and ten y- n j ag»
it was I. id out in >l«»ck farm iba’ w
Belling for a few p -un is p. i a- i* T I •
the mines 1.. .tied upon tin nari • ’U‘
have a market value ..f b-!.v
und <2‘V,'r■».u”o. And Ju-- a- h ip, n* • ' »
the days of the California I ba. !, n • c.
wd. i a few y» .ns a■» hard 1 p • • l a
dollar, are to lay worth un • u.- ' :
Taerv ate a kuz-n ur mor* i. ■ u .
now dazzling Lon d< a.I i i!i**’t •■ . •■ »
gant expenditures wh-» ’ ■ i •
\ ' > few yi
many of them were pra t; illy '■> U*
A Mini Who Has Made Hi*
perhaps the m -t r narkable ;
of tiie gold fields is B. I B.*i i' • !-■ *
from <’ape Town to L <n I «n ‘ •
Harnato and the/oiliest t II a : a t • ■ I
Barnato is still a yo.ng mi i. ib
of a good English f.i’nll t in.» d out t" '
a wild young der. ii cp d i . i t •
ony, knocked about tin-i. as !• .
was, it is said, al one tiru- no *n! • r ot
a < ir< ns company as a i c-cs r, t ; ; ! : ■' -
self struuded with a hail . ■ >wn ci ’ -
X ckel, went into t di am ! b
al K 'o ' m
nobody knows Just h w.t 1 ’ ’ *
us oii«- f the diamond i
the Kimberly diamond me - v. •i •
solid. Red turned up at the ts : . ■ •
worth millions. Later t. itmi: • ? ■' ■ 1
th** movement to the Witv.ate? ra; i, '
came a leading pr eu.dvr «»t ■ <d I min
enterprises thvie, and a year ago w »
quoted ut
\\ Ithin the i-r i . ■ c t ! ■
out in fauid-m that he has ms'*- ; ;
ilo.ooO.iwio in th“ sale of tniidn- siiu:«-> . 1
in promoting mining enter; ri
Probably he himself d ••■s • t kew . t
how rich he is. And s! I I '
go on increasing at the rat- it ha • d
up. in another ten years this . ir i- i u
gler will be the richest, man i: I. w !.
Barnato is now a nr-nd - : "f th- ' . ••
Colony parliament and «u' r
when he was about to '-■id 1«r ‘ u
Africa a dinner was given him ii I • •>
that was presided over by ii. • ’ c I ir ,
und attended by man> of the m . ' I
financial im n of England. U.- ■' •
his money like a p! ing* r. an ] j ; i»>.a s
followed bj h
divert a portion of the 1‘ 1 toli in c ■
H. . . . •
of gay pe.»ph- genviallv an i • • ••• ; •f
, urioustories an* told < f h ; ; • n .ly
gifts and udd performam *s. If fm . • -
ample, he wishes to give a th* iter paity
he thinks wry little of < bartering th-
Whole theater, or at b ast s :< h a p••rbnn
of it as he may d--’r> f»r th- *x •
us- of his guests. L-ari. H" * r • »u. • '
and works hard to enjoy his nn.r. . d
has a broth r who b«- irne ass- -iat- I w-th
him in the diamond businv s at Kimb- rl\
and later in the gold m.ne aid who. w». -
h- is not as rich as •‘Barn-v" .nil r
mak- any such tremendous splui . L - :
•• I
several million pounds.
A llwnnnan Matvsninn In *»«»ntl« Ifrlrn
Oddly enough, It was th.-: h the ’ ’ i-
G z .' • v ' ' <■/ z
v.
c
'■—: v e--.aL ' '• ■> •h" V.
.'iiS*' ■■ r <'9-/ *tr
••• . .’ J
JOHANNESBERG. FROM THE COORN FONT EIN 111 M.S.
mond mines and th- gold mines that <’ il j r
Rhodes etnv to I— pr-nii.r of <’ap
t’olony and practically delator ot south t
Africa. His politi il p"W. r has I- • u »in- a
ed very mu- hin th- same way that Svna- .
lor Leland St int nd tir.<: ni.t-iv a great v
deal of money in Californ a and later . amv ti
to be gov ruor and then senator. Rhodes a
was a young ma i. in iil-h» iltti and hk. | p
to div, when h want out to s-uth \fn i h
and followed hi- brother into t! • <liamond
mines. There, h. not onh. r- .vend his
hvidtli but show< I rvmark;il»lv bu> n s p
talent and soon Iwcaiin- the h» ad of th- is
movement to consolidate th kin:!-< : ( p
different small holler int«. \ a 1 i n
c ,. rn Th* i»e Beers con olid..t. I min a
limited, valued todav . t or
UUh.UUO, is practically his a. mliwork. I.at-r | •
Riiodes became inL rested with other I:a- H
B
m.ne .m ils now <|«<»ted at so!
(’.ini M.-eWI. His frl'-inl and a-so-i.tle. .\’lt-d j a
Beit, of the lire <»: W. am r. Be it .v • - . I
is worth perhap. f I?.’a* d .1 R. B-h- Ja
iason, of th- famous mint-, up- • 1
Wards of £".'•'•'>,<*■ ' He i \ N <1 ;I-1 • i
(1 .. \ > and
Fiet Ni.ii ■”->< .it
South Africa has tn. • ' ’ pr - i’i . I p r- | In
b; ps twh-v as many m.l!i oa r • a did | m
California, ;*nu th r -i- 1 11 k.i 1 ■!• f> etur. i c
th*' whole matter is shat .» the en. . > ’•
nr- right in tin ir cal- ul 'tiens a- to th iin
extent of the Witwat-r and d*p • its. th- t
amount of gold the latter contain is almost I l
unlimited. Free pcedictions uro ©Here 1J th
that In five years the pm iuetion cf g I<l in
the Transvaal aloiiA will ha\ ‘ gone far
toward SI,<M>».OOO.WU a year, or about two
thhds as much as all the gold now mined
i.l th- world. In this case, gold would Im—
. ome almost as cheap m e-mmodity as sil
ver. Indeed, so definite is th- prospect
that th- <|u-stion has already engaged th
attention us financiers and ♦ unumists, and
M. Leroy-Beaulieu, the Fr* n 1» statistician,
has mad- an interesting * al< illation a*? to
th • possible off* ■ is of this in<-reuse upon
| the monetary situation.
I Anivricnn i-lnttinvvr* the Developer*.
I It Is an intonating f:r t that t*. s- < ileu
latiuns an* based u|m>ii the reports ami in-
• v. stigatl-.ns us two American engineers.
Hamilton Smith and Hennen Jenning*. butlj
of whom are well known in «’a!if« rma. It
is a rather remarkable fa« t that it has b*--n
Arner!<:tn engineer- who iiivo direct-d
the development of th** south Africa gold
mines, as it was Oardiner Williams and
L. 8. Seymour, two Ameri«an engineers
who rescued the Kimb**rly diamond mines
from disaster and who have since directed
their operates, ic may Interest som-
American boys to know that th -se Ameri
can engin -rs of whom there are p-rh.ips
a dozen prominent ones are receiving sala
li. s ranging fr-m £2.oW to HVH. John
Hn.y«-s Hammond is said to r» • ive the Isr
t-r sum. Hennen Jennings is said t*» ie« ive
HC.UO* and thtl** ar- s veral others Wio
aie drawing upwards of $25.0»» a year. An
expert knowledge <>f mining is a valuable
ccmmoditv in smith Africa.
Not only lias Anu r;< an brains had a
gr-at deal to do with th- development of
th© n-w mines in the Transvaal, but even
American machinery is cmplove I th-r*» in
pr-f'-r* »i<-e to th»* mining machinery ot
England. Fiance or Geimany. It is to Nir.
NL S. Harlow, who v.nt to -• u’h \lr- i
ai;<l ; *nt months th- • as i
r-prcsentallVe of the Ingot: iit g»-an*
Brill I’ompanv, that I am l’id»l-l»d f"r the
materiul for this arti- h-. -Mr. Harlow r
turned re.-•♦uitlv from th- gold ii Ids a.i I
gives nun.j’ interesting facts regarding
them. Said h**.
The < npiliil Town of the Bold l-irldw.
•The prin* ipal gold fl Ids are group* 1
id.< nt tl-.«- town of Joh.-nnesbuT g. wh. h
Iles inland Just a thousand miles northeast
from <’upe Town, it is r* ;<‘ • • I by rail m-m
either Cape Town. Fort ElizaUdh « r East
London and pr.-biblv by H»is tin- cl--**'
fn in lav. The t>» n Is - s .1
In thj southern portion of th- Tran .aal
ar south African republ-c. ub »ut thir
hve luihs south of F:«t- : a. it.- capital.
Jchannrn has now a |iopulal>on of
at out UTjwO whit-s and Pretoria is a little
|.la-a tv ul. al 1! -r town, of .limit 1". I
••Job U l v. V '■ '• *
Wltvvaf. r ran.!, that is. Fi. shwat-r
rd; .-.' and l-r th.- nvst of the v.-.u is a
v-ry lb ■ it ' !•>■ - <•> live in- U nearly
sis. tb nisanii feet above the 1-v.-l ot the
s.-a, is snrr >iu 'I by a grassy, rolling
country, und with tn - planting und other
Improv -ni-tits that an- Is-ing in»<l«- > .i|»Mly
it w iHi-uiuing a pr*:?;, and attractive <>•>•
It 1 e ks nothing of the comforts and v*»n-
v. •• •- <•: •;. :l JI i- ii, in fa t u'ii■ g»y
i. Hl the }a -i improvements rd
inv-ntios Tie t« wn is nt by -i ciri.ity
j. an el*' tri - trainro;«d is being T»..!lt con-
bt.Riig id it .-irio ■! : min* s’ ai; I il-
lag* h with the central tw.. The mines
■
the finest Tinning ma •nii-.-rs in the w*»ri<i.
u-j... yj .pin of tn»* tn . * eir.pl » th
fi:..«t • io: .'<• 'ting tab- it H -t num* v cc i
coifsii and aid !he nu!:-- arc work-I in
tli- ci. t - ni.iniet. !s”S- icon
waste is r- iuced t » a minimum, ai d the
w. «j -f . n • -ii ? • ■ ■ i t-> «r
Strictly l»u-in* < ail 1 • ::i’. • na.’- -.
V T>pirnl llooait 1 •»«> n .
■ . ■ has
sprung up * ntirrlv vv. bin tri- l.i-t t.-n years.
I rin.-ioaliv w.t nn the !■< t . n . r eight
years, and It is a typi a! b.'ni: town. Ihe
r. inai'i.ibte f. ature ab .lit it. however; is
Its curious ft.- ; ■•«» f -I th- t ugh ch
in, nt. It pre- -nts al .'ut.-ly none of the
i-huia t.-ri ■' ■* s tin: v*■ i t'» read of In .
th- tin n u.yj -f J.-.idviiie. of Virginia i
I‘itV or I’i e h'-, f -a-i ' VV th.- IPiglish. who I
....... il part ■■ ;• :
I tion f th.- f -v. 11. da not seem to <t V•1 -p .
Ia r.'VV.ly . i.n and the ".Man fr..m I
C.ede.'- Is i t there. The I.egr.n-.s ,in- j
pl-yvd hi th** mines s U m..finr s m ik- a |
iltti© ti ■ iblu wh* n th-y gel **i k. but |
| t» > ar ; i ’.iy austled off. and th*- town
I L ■ - ■ ' •: • •■■ ■ » l »; :
I -T": 1
! i , .. . 1 . th* H Th* I
j ;>c-. mu* h! k tn- Puritans Th- »*• u? '
i ; < that i l i** I- •' ii- o< J• : .i n h’-." ia.. g aic
! rlu-t-i on Sut. .v, and at 1’ <>• 1» k e.i’h j
m hl <;f th*‘ v *k; H i’ is no g.unbhng I
i . i ; , I m il., r ,n mV llnio o’ • |
! nato, have i.itro-J iv» d an abi -■ lari-*- -f |
| vva’.r. • • lli.iiiniany of t ie vv.ll-t -do .
. z. -i ~i. i.. ■. • ■ t-> .i . <••■ fr. sh. i- iu- |
tifu! lav ns. '1 f- < :male, for the in -st part, ■
I Is i Uher mild; nur n . rainy ;
.- arnii it is f.uu. times unpi. .i“ant. Mill. ;
I tile I . O '- H h-nllliv. al' l one undergoes |
I 11 • N .f are pl . ! - in : ■ neia! so very high, j
’ Goo I I-ml in 111- hotels ean 1..- »e, u l .-,| for
; . u ; > V -i-K, .11 IWi ’lc fl” r»- IS, us j
. ;r-- i-m fill* • t * ; gh**r pib -s |
.
higher t
1,.--ti l ‘i. .-."la w. -in :• ...m i-.vvn.” j
..-ent. 1 a i: >1 oppm tu.ilty for making
ni.mey, Mr. H ii 'V. mid:
\<i 4«r«*:tt Opportunities.
1
i n .» » |• ■ .ti in 2iic*-m* nts. Wi h t - <L«- :
; covery and d«v l ’pment us the min* came |
an imni'-i.- s » that all kind us ordl- •
| nary 1 tbor ar** t * be b d at ! ir pri. ■.
1 M-T'OVIT. a -it many pl- who .
’ thought t » reitlu in N!a t Lat d and
! N!atalM*!e I .and, s-v-ral hun Ir-d mil* * north
of .luhatii • burg, have Ln-n di<a’ ; P'-in’-d
and have return d tu the Transvaal. Then. |
I t alm 1 t uVi ry k 1- bu. ii- sis rep- |
r --nte 1 In some way or other, and the
bu in-ss man us Johaino-sb'irg ha< his
typewriter and rides his bicycle,
and in general has all th- f cilitus and
l Onv-nl*•*!*■•♦•s w hich uu- enjoys h* r». Fe-ple
w it,» go to south Ari-a. *x< < to
llnd themselves in a heathen laud, will l»»‘
liC to ! . . : -
plii: lica t d stat© us things wl i> h greets
emht to a town of ten tiim the popula
li'.i:. in ii'. -■ i • ■ ulai ■•'! i
s une of th- «l.icf <••»•:. act» i i-hcs us tnv
place. Eveiybody speculates and shar* B
mo *-m« ui’ ami ar raids’ and •booms’
Mid all lh» diversions that gu to mak* th©
■ tuck exchanges us London ur New York
ntetesimg.
•Ti.e town Is rapidly building up witn
>ai.d<<.n’. mi k a.- aid Him resiliences.
Mid tasteful i-hurt !v • . stree ts are tx-ing
>av«d and the only tnlng so far lacking
ire good public school iaciliths. N d the
cast >trikmg characteristic of the country
s the pre-encc of the gold mines on a
• n-* n prairi* . There aru no mountains
nywh*! about, a d tb usual hire d’-sert
ik ■ mining country L lie kii.u. B< tort.- the
nines w« re discovered, all this art a was
.•-•I farming land ami the cautions old
; . ].. ! to tight -If the prosjHM tors and,
i lot. in the < arly days of the Trans vial. |
lu re was a heavy tine attached to pros- I
< ting ?i\ where in the republic. <>f course I
Fiat is all changed now, but it Is the Eng- I
Hsh rather than the native Bo»-rs» who
have made money out of the mines.
Developed In Ten Yearn.
•‘Th© discoverey of the auriferous ‘banket*
or conglomerate beds on the Wltwaters
rand earn© in ls&». So you see that this
wonderful district Is just ten years old.
In 1885 the sum of £IO,U<JU would have suf
-1- ed to purchase all the farms of the entire
district. Single claims have since sold for
two or three times this sum. The ne^ s
of the discoveries soon Kimberly,
and it was mainly the Kimberly crow 1
which took hold and developed the
The deposits were found in a shale unlik’J
anything else anywhere in th© world. They
are nut in quartzite veins, but in associated
b*ds us a sort us conglomerate which is
known as a Tref.’ din main r es i*
feet wide, and the principal worKing;*
ha.e strung along for about eleven mdcs.
Here is the gn at Robinson mine, the Vl* -
turia Ran i a- J others which have given
fame to the r-gion.
“It was -ti a--count of the peculiar geolog
ical < hara -ter of the formation and the un
expected presence of gu! 1 in a c ? n «
glomerate bed that at first le»i
even expert engineers to declare
thu fields worthb In >♦-!. one cele-
t -*
pense. pronoun »d the all'-ge-l find an ab
surdity. From th- very i •»■’ *n whk’h he
istuoi millions upon millions of dollars
worth of gold have been tak* n out, and it
was from an examination us t’us same reef,
when it had L—en develop*-’! 1 r, that le<x
Hamilton Smith, th*- well-kn vu American
mining «-mun *-r. tu ded i - *tnat. ‘There
have often been mines us h -r* length far
richer than th* •- of th- R ■ but nothing
ajiproaching them » r hav- been, so LtF
as regularity ami extent a • • -..m-**rned.
•‘The dejH»«it is held in a broad bed or
vein that tak* s the . nap- - mething like
an enormous b-»wi. So it h >!>;.♦ u- that ti.e
Fame d-posit will he found a‘ a deep level
some miles away fr*m thu * ii r-o of the
reef. The En ii~h law is t .at a < I tim ex*
t-nds into the »-arth on Xert; d lines and
not according to the strike of the vein as
in the American system. So, knowing that
the vein could b- t ipp-d at a distance, an
Am* ri«-.tn engin—r. if* nnen J- ’ »ngs, <X>n
c-iv’-d th* Me : . f sinking a 1 z shaft at a
’ distance from th- t -tin -- f. This was rh»>
beginning of the d* « u le,-i w rkings and
from th-se many us ti ri ' -st mines Ji e
b-eii and are now b--,ng d- d. Th*
value of th- gold in tn- Ra id field, whh a
is m*w pra* ti ally ia : *, r» aches tno '
i
I along the «tr» i h .f el-\ • . miles of the
main r—f which h- saw. it having be* a
pi js n-d by diuia - .de: s to th- d-piix
us u. o tert, un- mi.-, were at bast
I’.M.WAU’A* l 'US, w h ■ a v. ■, . 1 yield
ounces us g'dd, or a valu** of flfl-’.'s/?/'Ho
estimated that th** mm-s outride of this
ar-a would pfod ; e i.aif as mu.-h more,
or a t »talus sum-tnh g hke il '■*•• •’’•W ix*
ail. This, un un entirely conservative es
timate. Sin--** th- up’ ning up »f the de* p
levels this estimate has been found to in
elud- only a F.Mi.n of the d-n ns*rated
wraith of she Rand. i'<*. wh y*»u con
sider that fr .m IM.' to I s ♦ ' re gold
product of C tlifurn.a v. ;--i i- t ■ ■: $1.4w.-
i-A’.uu”. you g-t **>:nethii!g us a: i lea ot
the untold n- :.-s v!«•» L- ■ a the fe at
S j iar- miles '-mbr.i-..* lit t • H. • Smith
rstim.'ited tiiat tb .' of go! i
w-iild reach i*©,*■»* r . ’ • o by tha
end us th- rr.ituiy. ir is r j., ; improba
ide that his p.* J. ti-u vv... •r* alizrd.
A Town l<«*inovr«i To Get at the Gold.
“Vv n a the Ba; 1- t . . • n- 1 up a
town was f ’ : * ** • ‘ d right on
top us the reef, but wn- n later it was
found t at und** ■ . ’ > - ir-ts m.i
*• A-
- up-n* 1 a t.w a >'te a little dis
tance away, selling the b*‘.s at &uct : > >n ur
j rather s-ilmg muuty-mue-yrar ieae-s. Tiir.-e
{ ybdd*-d xe large .sum, and have since in
| • :*.i- 1 ruurm j-ly in value. This was
| the beginning us Johannesburg. When tee
. town was first laid out all lhe eupph- s
I and machinery forth - mines had to -e
• bro-jght from the seaboard and fur jir)
| miles us the distance w-r- ca tied in ux
1* wa-..;un .By the end us in. ■ 'apo Towu
ia.hu.l i vbdilL in and ;:uw tw- others
have Le-:i complete 1 through. Thu city
- . 1 1 J U .an 1 pr* a very a
J pi-aS4i4g nd attractive appt arum e. It is
! uiu i’ f fur sumo miirs in either dirrc
l t un, and their lug crusin-rs and the eaim
' v slacks us the eng.nr i> " stand out
1 Luld’.v a-a.:ist th- >r,z -n. . ;i” min-s are
rquij-. *«1 v.i’h jtnm* .• • : i-s
■ :a-s-, v..’h g: . . . • auus* -s
I :h«» ciii'»iiu.i lUil aad •_* vfS\ Wi’il
’ th- adj.i •r* -red- ’t;l *. and of
V
j hoa- ver. is nut cu;.:. .-d v.uw -rs-
I ra ; T • *• r K -• I ■’ *
; thu northern and eas:« rn * i<u o* tne re
pubiic. and u -I v ry far ’ru n Jo-
• hauim> ; *uig arc -x* , inin*s.
! Tn- ia- ’-r - • t ■ d _n: ..Tions
i < »un*r. . bur r -i:;- ■>'- *
I dim; JI.;-! .:• ■ ; - W h«
I •' ■ ' :
.
price ot s ■ .1 . ■ ,
I v»-lup*‘d .'a a V M. i ISI*.
■ -
jiortanuu.” < v. i. £».x 11. r-.v. .
j TantM-n Ser.rrlr Crltlel«e<J-
N’ew Tork. July <■' Vh States
• grand jury this af":’ ■ luni'-i to
JudKe I*s omba it' yr ; i> r : it. regard
| to t»- .-‘v «’ 0
! K issell. Allen and Kulo: fre-u the I.ud-
lo« Street jail The a-.u. : ' erely
'iti.- 1 S!i. r ~ ’i’ i .aatio
v , i K- -■ < 16 ' • ■
in his t.» : ■ I Jury
~,1 pr.i ti-ailv th-.’. >y Knurl
I jury could censure a.-iyuu-J .- r tagence
in conneeuon with the . Jawa
. . . M framed that tnless t : d that
I'
th. prisoners to « « an
lad ■ l.
From The Darien. Ga . Gaaefte.
Tno Atlanta Constiti... t Si i-av was
a splendid paper. The old ' >nsti‘* al«
ways Kots there with Loth tect.
MF*
<4^,
We Have Not
Advertised -
Cojumbia
Bicycles
_
fcr months. Have not dared.
Too much Columbia popularity..
Everybody has wanted tSSSe-*’
1895 Columbias at SIOO.
Tor the first time this rear’we cad
deliver Columbias and Ilartfords with
reasonable promptness when reguhul/
equipped. •
POPE MANUFACTURING CO. *>
CEWMI orrice asd factowcs, hart,o*o, cowal 1
6TOMS :
*»PW YORK, U’ICAQO, P.KWIO€«»CE, FHItATt
BJFPAIO, BROOM.VW, BAlTtv Us, WASMCVUTOh, Mi*X-
Mention The Constitution. 4
9