The herald-advance., July 03, 1896, Image 5

About The herald-advance. (Milbank, S.D.) 1890-1922

Image provided by: South Dakota State Historical Society – State Archives

                
[kes a
L."
Specialty of
,int. Watoli andj
Jrwclry Repair-
Ulff.
Plain
v
E n :i v"
\X"
ITILC.
v
We give written guar
permanently any easo with
refund the money with
interest. Haeo-Curo" is
uie. but a scientific cure,
thout the aid ot will power
inconvenience. It leaves
-pure and tree from nico
y you took your first chow
fv Bacn.Curo and Valued
linrlj I'otmdN.
uu'lreds of leM imcnials, the
uiiich are on liie and opeu to
e following is presented:
\ala Co., Kiin., Jan. 28. 1895
,.tuial k Mfg. C.., LaCrosse
men: For forty years 1
in ail its forms. For twouty
that time I was a great
•ma general debility and heart
it til'teen years I tried to quit,
n 1 took various remedies,
-r- "No-To-liac," "The Indian
:\.i:idote "Double Chloride of
I'U'., but none of them did
bit of good. But finally,
pim-hased a box of your
and it has etit irely cured
1'iit in all its forms, and 1
thirty pounds in weight
ved trom all the numerous
pains body and mind. 1
i quire ot paper upon my
iings and condition
^PECTfully, P. II. MAKUCKV.
C.l\ Church, Clayton, Ark,
druggists at §1.00 per box
s (thirty days" treatment*.
jn-clad, written guarantee,
.•t upon receipt of price. \Vrite
»ii(l proofs. Eureka Chemical
La Crosse, Wis., and Boston
NEY
ill
R.HNTI.L-V,
and Or
n a n a
z
s. nrf Fins
fins, Locket\
ioils, Dress l'ins,
v in great variety
STOP TOBACCO.
ILE YOUKSELF W0ILE
USING IT,
habit j,'rows on a man un
s system is seriously al
jiinnfi health, comfort anil
quit suddenly is too
to the system, as tobacco,
ito user becomes a stimu
system continually craves.
15 a scientific cure lor the
t, in all itH forme, enrelully
alter the formula of an emi
physienn who lias used
ite practice siDce 1872, with
it is purely vegetable rind
••'rfectlyharmless. Vou can
jaceo you want while tak
•ro." It will uotify you
TO
LOAN.
wlio desire to secure
b' on real estate I would
Piat I can accomodat
at reasonable rates of
fcst.
'MO SEE ME
Bentloy.
SHERMAN
—the new—
'gon Maker
ireii to do all kinds of Repair
Wagons, Buggies, Sleighs and
and Carriage Trimming and
&K.
w Filing a Specialty.
in connection with James
&rt's Blaeksmith Shop.
•H*
°IS
on
[ICHNINE,
1'AIUS (iltKKN.
INSECT I'
i'OWDKR
AND MOTH BALLS.
!Per's
Sheep Pip
AT-
LAWYElv.
oe one Door South of Lender's
Shoe Store, Milbank. S. Dak.
Special attention paid to collections.
JOHN S« \D & CI
I'eftjprs iu u.l k.ui ,, „f
FRESH and SALT MEATS.
We keep on nd lie choicest qualities
of Meats to be obtained, and make a
speciality of Sausages. Give us a trial.
Highest CRab prices paid for Hides and Cattle
JJR. J. U. FREEBORN,
OltTONVIU.L, .\UNN
Specialist in the diseases of the
EYE, EAll. NOSE
At home
JAMES
M.PASCO
s,
and TIIKOAl
Fridays and Saturdays.
KEl'i:,
Proprietor
MILBANK DRAY LINE AND
AGENT FOR THE STANDARD UII,COMI'KNY
.Moviutj Pianos,Organs, Furniture Etc.
prompt Attention.
u*vei.
ATTukN!:Y AT I.AW,
City Police
-Just-ice of the 1 a v
AND NOTARY PUBLIC.
Insurance Rt Collections promptly at
tended to.
OPEN YOUR WGUTH!
WE DO THE REST...,.
Ashton tii!1 Dentist, fr ?IKIt*
htm
wt ive years
i wiecfMtfuI practice iii Grant and Roberts
enmities, li s imroihieed the latest improve
ment* in painless appliances for dental work.
Milbank office open every dnv.
J^K. V. 3'. NORTON,
VETERINARY SURGEON A DENTIST
Headquarters at F. W. A. l'oppe's
Drug Store
Milbank, S, D.
P. LINiX^l'lST,
Farm Loans and insurance.
Desirable farms for salt
on easy terms or on
crop payment
plan.
Mil ban k, So. D'-ik.
Call at Rose s
—FOR—
GUITAR,
BiAKDOLIN,
BANJO,
Headquarters
VIOLIN,
STHINGS,
FITTINGS,
VIOLINS,
MANDOLINS,
AUTO HARPS,
ACCORDIANS,
HARMONICAS.
for all Musical Supplies,
Instrumental Books, &C.
ROSE'S
Wanted—An Idea
Who can think
of BO me simple
ttilUK patent?
^©. .for their $i.6UQ prtM offer
luvoattoW Wftufrd.
CARLISLE ATCHICAGO'
TELLS WORKiNGMEN PLAINLY HOW
FREE COINAGE WOULD INJURE THEM,
P«!ce« Rise Cliilclily but Wag
es Slowly
hen Money Ig I)epr-ciatiuu—Experi
ence of Lnited States, Chile an«l Mexico
With Cheap Money Wage Earners
Would Also Lose One-half of All Past
Savings Deposited In lianka, Ituildlng
and Loan Associations, Etc., a Total of
Billions.
Secretary of the Treasury John G.
Carlisle made another of his masterly
speeches on the currency question, in
Chicago, on April 15. It was to an im
mense audience composed largely of
yvorkingmen, many of whom, especially
in the beginning, were skeptical as to
the blessings of 100 cent dollars. The
secretary's argument as to the effects of
cheap money on wages was most con
vincing and effected a notable change in
the attitude of his auditors. We quote
a part of his speech en this point:
Labor cannot be hoarded. The idle
day is gone forever. Lost wages are nev
er reimbursed, and therefore steady em
ployment and good pay in good money
are essential to the comfort and happi
ness of the American laborer and his
wife and children, and he will be un
faithful to himself and to them if he
doe not insist upon the adoption and
maintenance of such a poliry as will
most certainly preserve the value and
stability of all our currency and promote
the regular and profitable conduct of all
our industrial enterprises. Ho c:umot
prosper when the country is in distress,
when its industries are prostrated, its
commerce paralyzed, its credit broken
down, or its social order disturbed. Nor
can he prosper when the fluctuations of
the currency are such that ho cannot
certainly know the value of the dollar
in which his wages are paid.
Money received for wages, like money
received on every other account, is val
uable only to the extent that it can be
exchanged for other commodities, and
it is scarcely necessary to suggest that a
dollar worth 50 cents will not purchase
as much in the markets as a dollar
worth 100 cents. To call a dime a dol
lar would add nothing whatever to its
intrinsic value or to its purchasing pow
er. If these propositions are correct, it
is clear that when wages are paid in a
depreciated currency the rates of wages
must be increased in proportion to the
depreciation of the money and in pro
portion to the increase in the prices of
other things or the laborer will suffer a
loss.
But I affirm that it is the universal
rule that the
rates
Our Experience With Cheap Money.
Congress, early in the year 1802, in
augurated the policy of issuing legal
tender paper, gold was driven out of
circulation, specie payments were sus
pended, the currency began at once to
depreciate, and before the close of the
year the paper dollar was worth less
than 76 cents in gold.
In 1SG2 the wages of labor, paid in
depreciated paper, were less than 3 per
cent higher in paper than when paid in
gold, but the prices of the 223 articles
used by the laborers and other people
in the maintenance of their families
were nearly IS per cent higher than
they were when paid in gold. In 1803
the wages of labor paid in depreciated
paper worth about 09 cents on the dol
lar were 10 Por eent higher than
when paid in gold, but the prices of the
articles the laborer had to buy with his
wages were nearly 49 per cent higher.
In 18G4 the wages of labor paid in de
preciated paper dollars worth 49 cents
each had advanced 251., per cent, but
the prices of the necessaries of life had
advanced 90 per cent. In 1805 wages
paid in paper currency worth 03 cents
on the dollar had advanced 43 per cent
above the rates previously paid in gold,
or its equivalent, but the prices of com
modities had advanced nearly 117 per
cent—that is to say, had more than dou
bled, and in 1800 wages paid in a cur
rency worth 71 ctnts on the dollar had
advanced a fraction more than 52 per
cent from the previous rates in gold, or
its
equivalent,,
but the prices of com­
modities had advanced 90 per cent. Tho
rise in the rates of wages never corre
sponded with the rise in the prices of oth
er things until the year 1809, four years
after the close of the war, when the
value of our currency was 71 cents on
the dollar, and it was quite certain that
JJO further depreciation would occur.
The wages of labor, measured by gold
as they wero in 1800, when we had a
sound currency, had fallen about 24 per
cent in 1803, more than 19 per cent in
1804, and nearly 44 p«* cent in 1805,
when we had a depreciated currency
greatly
that these reductions in the rates of
KxparWmw of Chile.
The recent experience of the republic
of Cliilt^ furnifilxw another impressive
warning to the wage earner against the
evils of depreciated, currency. In 1875
the peso, or dollar of Chile, was worth
about 88J^ cents in our money, but in
1885, ten years lifter gold went out and
silver came in, the peso was worth less
than 53 cents in our money. Silver con
tinued to depreciate, and besides large
amounts of paper currency were issued
"by the government, and the banks, and
in 1895, 20 rears after the change from
the gold basis to the silver lutsis, the
peso was worth only about 34 cents
in our money. Let us see now what ef
fect this cheap money, or, in other words,
this system of silver monometallism
which you are asked to adopt here, had
upon thewageaof labor in that country.
In 1875, when tlio peso was worth 88
ccnts, a mechanic, a boiler maker, a
blacksmith, a carpenter, a fireman and
an ordinary laborer received together for
a day's work 18^ pesos, er$10.37 inour
money. In 1885 the name persons re
ceived for the same work 20% pesos
but, owing to the depreciation of the
currency, this was equal to only $ 10.93
in our money, and in 1895, 20 years aft
er the country had descended to a silver
basis, the same laborers received for the
same work 25.95 pesos, but the value of
the
peso
of wages do not in­
crease in proportion to the depreciation
in the value of the money in which
they are paid, and that when the cur
rency is depreciated the rates of wages
do not increaso in proportion to the in
crease in the prices of the commodities
the laborer is compelled to purchase.
w:w less than 35 cents, and con­
sequently their wages amounted to only
$8.34 in our money, or just about ono
half of what they had received 20 years
before.
Our minister to Chile, after a very
careful examination of the entire situa
tion in that country, says, "It maybe
taken for granted that in Chile, as in all
other countries which have a like finan
cial experience, the consequences of
cheap money have weighed most heavily
upon the classes that are least able to
support the burden." The evils of silver
monometallism and a depreciated cur
rency finally became intolerable in that
country, and it ha* recently adopted the
gold standard of valuer
Mnxloo an Instance.
Our neighboring republic of Mexico
has the silver standard of value, gold
not being in use, and if cheap money is
a blessing to the laboring man he ought
to be prosperous and happy in that coun
try. The Mexican dollar contains 377.17
grains of pure silver, or nearly six grains
more than is contained in our dollar,
and yet, not being sustained by a mone
tary system which keeps it at a parity
with gold, it is worth only about 55
cents in our money. Wa^es are paid in
silver and are very low in comparison
with the wages paid in this country for
the same services, in many instances not
being half as much, while the prices of
commodities generally are much higher
than they tire hem.
The prices of imported articles espe
cially are exorbitantly high in Mexicov
because they have to lie paid for abroad
in gold, and the depreciation of their
money is so great that it requires nearly
$2 in silver to pay $1 in gold Although
our own silver dollar contains less fine
silver than the Mexican dollar, one of
ours is nearly (Mjnal in exchangeable
value to two of theirs, because here the
coinage is limited, and the govenmient
issues the coin on its own account and
lias pledged its faith and credit to keep
them as good na gold, a pledge that has
been faithfully kept up to this time,
notwithstanding the complaints and de
nunciation* of our fn*s coinage oppo
nents.
If we are to have free and unlimit
ed coinage of legal tender silver for the
benefit of the owners of the bullion,
the value of our dollar would be no
greater than the intrinsic or commercial
value of the silver contained in it, and
its purchasing power in the markets
would bo diminished about one-half,
but tho wages of labor would remain,
for a long time atlea^t, substantially at
the present rates, or, if they should be
nominally increased on account of the
depreciation of the currency, experience
in tho past shows tliajfc they would not
increase in proportion to the increase in
the prices of commodities. liise-H in the
rates of wages take place very slowly,
while the prices of commodities move
rapidly, at some periods changing sev
eral times in the course of a single day,
and these movements are always more
frequent and more harmful when the
currency is in an unsettled oondition.
and, gentlemen, the force of this illus- tions owe the people of the United
trationis
augmented by the facts
Why Savings Wtwild Be Lost.
If the solution of this question affect*
ed only the character and amount and
purchasing power of ttoe future earnings
of the American laborer, it would still
be a subject of the gravest importance
to him, but its importance is greatly
increased by the fact tliat the safety
and value cf a very considerable pari of
his past earnings are also involved. The
thrifty and provident workingman is
not a debtor, but a creditor, and the
corporations and individuals having the
custody of his earnings are indebted to
him and ought to pay what they owe
hint in just as good money as he pat
into their hands.
The banks, trust companies, building
associations and other similiir institu-
Statos today
ac
wages occurred at a time when several times greater than th« total capital cf
hundred thousand laborers had been ruUion&l banks in the country,
withdrawn from the field of competi-
1
tipn, when the government was engaged people in the various kinds cf cor
in the prosecution of a great war and porations and awodottou* and in force
was expending money lavishly for all today amount to(10,d08.804,35f, a sum
kinds of supplies for the army and navy, larger thaw has tmw aotnally invested
and when the prices of all the products in ajj omr jralhruMb. Jfc ilw ei
cflAbor had^largely I
$5,363,188,621 for money
tually dopogitod, a sum nearly eight
•while the life insurance policies held by
facts, which cannot be successfully dis
puted, I submit that you ought, serious
ly to consider all the consequences to
yourselves and your fellow citizens lie
fore you ftgree to the free and unlimited
coinage of legal tender silver at a latio
of 10 to 1 in order that these great (or
porations and associations may ha\e tho
privilege of discharging their debts to
the people by paying 51 or 52 cents on
the dollar, for that is exactly what it
means. Every dollar the people put into
these banks and trust companies and
other institutions and every dollar they
paid for insurance was worth 100 uts
and would procure 100 cents' worth of
commodities in the market when they
earned it and when they invested it,
and they have an unquestionable right
to demand that it shall be refunded to
them in dollars worth 100 cents eve ry
where.
The greatest crime short of abso
lute political enslavement that could
be committed agaiust tho workingman
in this country would bo to confiscate
his labor for the benefit of the employer
by destroying the value of the money in
which his wages are paid but, gentle
men, this irrepiirable wrong can never
be perpetrated under our system of gov
ernment unless the laboring man him
self assist* In forging his own chains.
GO TO,
KILBUIO,
July 2, lb»6.
Chas. Perkins was down from- Wilmot
Saturday.
Chas. SarfiT is running a bachelors
hall at present.
The teachers of this town intend
camping out during the institute.
Mr. McPease, of Watertown was in
this vicinity on business last week.
A. A. Scott finished his third term ot
school in the McCrea district Tuesday.
M. Plotner, of Wilmot, was in this
vicinity buying stock the first of the
week.
Charley Harris, Elton Jennings and
Rudy Zeigler made a trip to Big Stone1
on their wheels Sunday.
REPORTER.
C, A.KERN,
FOR YOUIi
Harness,
Collars*
Saddles,
Whips,
Blankets,
Fur and Plush Robes,
The Largest Stock of
Modern Times
The Lowest Prices in
Remember
Hard Timen,
I
am here to
stay, and can please you iu
Goods and Prices.
GSr.
A.
K.E3RN.
WANTED?
Farmers bring in your Drill Shoea
to us now and have them sharpen-^
ed before the spring work begins.
A. C. PETERSON
the old reliable Wagon Maker ia
with us now and is prepared to do
all kindsof woik in his line in afirst
class manner at reasonable prices.
CANNON & HEALY.
V
—Dealers in—
Drugs and Druggist Sundries,
Scbool'Bcoks and Stationery,
Patent Medicines,
SOAPS,
PERFUMERY,
PAINTS,
OILS
and BRUSHES,
CM AIM, TOBACCOS and CANDIES,
REVILLO. S. DAK.
RI-P-A-N-S
The modern stand
ard Family Medi
cine
Cures
the
common every-day
ills of.
humanity
iVili'fi'i