White Oaks Eagle, 1895-07-18

to its query, '"What constitutes the value of money of ult mate re demption the world over?" It says: The valuo of money of ultimate redemption is controlled by its price in tliu markets of the world, at). 1 thin price m based upon the bullion of, and not the Rtamp on, the coin. Money of ultiimite redemption being the only thing in which governments tínally discharge their obli obligations, - gations, obligations, it is therefore the only roal money. If an individual baa u claim lor a thousand dollars .against this govern government, - ment, government, for example, he presents it to the treasurer and receives a thousand dollars in treasury uotcs. That ie not a dis discharge - charge discharge of tho debt. The government has pimply given him negotiable notes promising to pay the thousand dollars ou demand. The debt itself still exists. Now, let us suppose that the govern government - ment government pays him silver; would this pay payment - ment payment be, in equity and in faot, a discharge of the debt? Certainly not; because the thousand dollars iu silver is not worth over fifty cents on the dollar, and if the government should insist upon the payment as a final settlement, it. would bo partial repudiation. Suppose the government paid the thousand doilatsiu gold; then the debt would he discharged, because the gold is worth just what is claimed for in any market in the world. The people of the United States accept treasury notes and silver in payment of debts because tho government has, so far, kept them at a parity with gold by promptly redeeming them in gold on demand. Should this government uu uu-deitake - deitake uu-deitake to coin silver in unlimited quan quantities, - tities, quantities, it could not maintain this purity, an 1 silver would drop to its value as bul bullion. - lion. bullion. Money of linal redemption is a commodity. Tho stamp of the govern ment adds nothing to üs value. The demand for thiscomrrjod ty as a medium of exchange and for other pnrpnres. taken in connection with the supply, con controls - trols controls the price and "constitu'ea" its value. If wo make silvers money of ultimate redemption in fact, tho same rules will apply to it. The illustrations of the fieeonl are very lucid and easy to under under-stand, - stand, under-stand, but when it says that the value of money is controlled by the bullion price, and not by the government stamp on tho coin, it only repents a proposition which nobody yet has been able to main maintain. - tain. maintain. If this were true, why is It that through all the elimines in the quantity of gold and silver pro produced - duced produced that the price has not mate materially - rially materially changed in the countries re respectively - spectively respectively using these metals in their money', If, liko other com commodities, - modities, commodities, their value was governed by the law of supply and demand, wo should see gold bullion going at $20 an uuueo today and $10 to tomorrow - morrow tomorrow and ifüO next week, just as we now see wheat and corn, cotton and wool fluctuating in the mar mar-kets. - kets. mar-kets. The difference is that g Id and silver, when used as ni'jucy, receive their market value from the law which fixes that value, and it can not change without a change in tho law takos 1 ice. Why docs tho l!oordw.y that if this government tdiould pay its creditors in t-ilver that would not be an equitable, discharge of the debt? And why (hies it assert that the silver dollar is not worth over fifty cents? Is its uoisuic a true, just and correct one ? Why does it not say that he who demands gold dollars asks two dol lars for cut h out that is due him V Why docs it insist on measuring silver with gold alone rather than j measure gold by the t-ilver dollar t It can mt answer these questions upon the theory it present that gold is the t-t.'iudard of the world's ni asure, for nations that, by their ltws, iiinintiiii a single gold stand stand-nr - nr stand-nr l embrace a population of only about one hundred mid sixty mill million - ion million leople, while those having a double standard contain a t ovula ovulation - tion ovulation of two hundred and forty mill million, - ion, million, and those with a bingle silvcr slundiird have over eight hundred million. Therefore, it must eon eon-line - line eon-line its theories to narrower limits than the "world over." If it is establishing a measure measurement - ment measurement for Lombard not or Wall

RESULT OF THE WILSON BILL. Attention was called by this paper yes yesterday - terday yesterday to liradstreet's report that more than 1,000,(X)0 industrial workers have received voluntary advances in wages, averaging 10 per cent, within a couple of months, A Republican orgun cor correctly - rectly correctly says that "nothing like this has ever before been known." It was not known during President Harrison's ad administration. - ministration. administration. It was not known during the four years tho McKinlcy law was in force. Wages were not generally ad advanced - vanced advanced soon after that law took effect, nor at any tiins b.'foro its repeal. Such a thing as a voluntary increase of wages on a large scale was unheard of under that law. Reductions were made in every part of the country, but no advances at all of consequence except a few resulting from strikes. The ilson bill was passed last Au August. - gust. August. Sections of it went into effect soon afterwards and other sections later some not until the beginning of 1805, It is worthy of uoto that the upward move movement - ment movement of wagoB had its beginning iu Sep September - tember September and has been growing ever since. It began in the woolen mills one of the results of the placing of wool on the free list. It spread to other tix ilo in industries - dustries industries and then became general. As poon as the winter was over reports of advances iu wages were roceived daily. The Tst for april includes 07 in which tlio increase was as much as 5 pt r cent. I i all but six cases the increase was 10 per cent or over. In 10 it. was 15 and in several others from T2 to 20 per cent. In the case of the Cincinnati cloak cloak-makers, - makers, cloak-makers, where 4.0ÜÜ persons were em employed, - ployed, employed, an advance of 2ó per cent was given. The wages of 10.000 brick manu manufacturéis - facturéis manufacturéis on the Hudson River were in increased - creased increased from 10 to 25 per cent. One re report - port report for April shows a 10 per cont in increase - crease increase iu the wages of 25,000 employes and another a similar advance in the pay of 21.000. TheBO were all mill hands in Massachusetts. One of tho 15 per cent advances that mouth affected lü,(X)0 men in Yoniigstown, O. None of these employes are included in the 1,000,000 covered by liradbtreet's re port whii-h goes back only a couple of months. The total number whose wages have been increased since the Wilson bid to k effect is probably not far from 2. 2.-000.000. - 000.000. 2.-000.000. And a conFervative estimate placos the averago advance at 10 per cení. Forevory dollar received by these 2,000,000 wage earners under the Mo Mo-Kitdey - Kitdey Mo-Kitdey bill, 81 10 is receive I under the Wils.in l;iw. If their Aggregate monthly earnings amouniod then to $100,000X00 a month an nverago of 850 per man they Htuouut now to $110,000,000 a clear gain of $10,000,000 a month or 120,000 120,000-01,0 - 01,0 120,000-01,0 a year to the wage earners of the country. If the re Inction of tho tariff under the Wilson bill has Dot been a loading factor in this wage advancing movement, why i it that the advances have been con confined - fined confined in nexst part to our protected in industries? - dustries? industries? Will some high tariff Repub Republican - lican Republican ansuor tho question? St. Louis llijnihlie. what oovk:nsm:xT costs. Mr. Edward Atkinson, in an ex exhaustive - haustive exhaustive article iu 'fíf',s Wrvkhj, after reviewing tho expenses of this government since 18S0, con concludes - cludes concludes by congratulating the peo people - ple people of the United States on the fact that our expenses aro less per capita than th me of Kurope. While the expense of maintain maintaining - ing maintaining any government must neces necessarily - sarily necessarily become larger as populitit n increases, tho cost per capita ought to diminish as the country gn ws in the number of its inhabitun s Yet, wlu ii wo compare I ho expend expend-ituns - ituns expend-ituns of th s government n w with those ot half a century no, Icav ing out of the calculation the items of intcro-d on the public debt and jx-nsious in each cunt, it cost the United States tho follow, iug : H10 81.25 js r capita. KVI 1 .37 lsco l.'.i.'t lh70 3. .13 1HMI a 30 lH.Ki a.-'j Thus it ill Is; teen that the ord- inury expenditure ot tbtüovuru-

THAT FALSE ISSUE. St. Louis has a "sound money" Demo Democratic - cratic Democratic club which proposes to argue be before - fore before the State Democracy in behalf of a gold standard. The Nepublie ib ib-tained - tained ib-tained from one of its officers and pub lished a detailed statement ot its objects and arguments. Without here mentioning the merits and defects of the reasoning employed by Secretary Lockwood, it is pertinent to nek all members of the party what will be tho effect on Democratic) strength of making an issue between extremes. Intolerance begets intolerance. Ex Extremes - tremes Extremes solidify extremes. The issue be between - tween between an arbitrary free coiuage ratio and a gold standard is, we repeut, a false it-'sue and one which bodes uo good for the Democratic party. It is not an issue which was ever brought before a national convention. There is no party tradition or utterance iu favor of either extreme. What is not Democratic is dangerous. There may be good Democracy in ad advancing - vancing advancing extreme opinions, if they are the outcome of sincere thought, and con contending - tending contending for them to tho end, but the end ought to bo a settlement and an agree agreement, - ment, agreement, not a division and a persistence in intolerant dogmatism; -St. Louis Iie Iie-pulrfie. - pulrfie. Iie-pulrfie. What can be the object of main taining a party organization unless it is, by concerted action, to carry out certain governmental policies, which, from time to timo, appear to be advisable and conducive to the interests of the people? We can conceive of no good purpose of a political party if it is not to meet and determine the leading is sues presented to the country for adjustment. And it is not at all probable that an organization which has been perfected for the pnriiose of promoting the peculiar views of its members, on the tariff question, will entirely agree upon other propositions which are likely to arise. Because about one-half of the voters of the United States have organized for the purpose of establishing and maintaining, in this country, a system of protec tion, while the other half have nd nd-vocated - vocated nd-vocated a tariff for revenue only, it does not follow that on the ques questions - tions questions of tho currency tho individu als comprising either of the two great parties will necessarily agree. Ilencp, if one of these parties should advocate free coinage of silver, while the other proclaims the single gold standard proposi proposition, - tion, proposition, this being conceded to be the leading issue now before the peo ple, there would necessarily occur a readjustment of party member membership - ship membership and alliliation upon the new lines and issues. No intelligent voter will cast his ballot for this or that party ticket simply because it be us the name of the organization he has been connected with ujion other issues which have loen dis- jMtscd of it ml settled, unless he is in sympathy with tho organization in its views upon the new and live issues presented. Every voter ought to, and every intelligent voter will, cast his ballot so ns to es'ablish or srpeluate that which, he believes, will be-t serve the in interests - terests interests of tho whole country, with out any reference, whatever, to the name of the party advocating it. Principio should be considered flint, party afterward. ob. 1, No. 1 of a neat find nowsy pajor, the IMaud Weikhj Hei-nlil, published in the Cochiti mining district, by Messrs Ortiz & llugliart, lum been received. The Itvtuhl will be democratic, nnd, then fore, of course, for the

ZIEGLER BR0S.HE3o DAYS. Our second annual clearing sale of all Spring and Summer Dress Goods will commence to-day. We propose to sell for tho next thirty days all LAWNS, SATKKXS, DUCKS, DIMITIES, WHITE GOODS, PERCALES, LIGHT OUTING FLANNELS, ETC, FACTUAL NEW YORK COST. e have not very many summer goods left, but we tb not. believe in keeping them over for next season, so in order to clase out th? entire stock of these goods we will give our customers the benefit of our loss. When we tell you that they are all new and desirable staples, anil all patterns from this season, we will guaran guarantee - tee guarantee you no better value anywhere and defy all competitors. We also offer 50 pairs of fine Xiac3.1es' JSll?o:rj9, new and stylish goods at SX. S3 a pair, former price $2,50, an long as they last. Yours for low prices, ZlEGLEK BUGS. EailroadkSEailroad, This is the Place To Trade. "WhirO l'iuse we give one and all their full vaina VV llj . for the money and AVe will, for the next 30 One Price to All. days, make a OrmuL Sweep in Prices, in all lines. CLOTHING, HATS, DY GOODS, SHOES, UNDER UNDERWEAR - WEAR UNDERWEAR MILLINERY ami All Line, earned. , We Def y Competition, and Cash Purchasers will find it to their interest to give us a call. Xo space to quote prices, but call and we guarantee our prices to suit. Agents Standard Fashion. S.ft. WtEflEJl &. SOfi.

ment were more than double, per capita, in 18;0 than in 1810, more than double the expenses in 1850. In other words, tho more people there are to govern the more it costs to govern each individual. When applied to any other busi business - ness business proposition, this could be ex explained - plained explained only on the basis of in inexcusable - excusable inexcusable extravagance. It would not be a bad scheme to change our course or call a halt.

street, nnd solely in the interests of the manipulators of tho money markets of these localities, then its reasoning is doubtless philosoph philosophical, - ical, philosophical, but if it is crentingn standard by which to measure the honest balances between debtors and cred creditors, - itors, creditors, it must seek a medium where justice can be meted out to each alike.