The Philipsburg mail. [volume], July 11, 1895, Image 1

About The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current

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THE PHILIPSB URG MAIL.
VOL. IX: NO. 24. PHILIPSBURG, GRANITE COUNTY, MONTANA, TIIURSDAY, JULY 11. 1895. PRICE: FIVE CENTS.
'TII·-· il ll- - I I- In illitl in IH Hi Ni n I - ,
lIce Cream and
Soda Water
(Pure Fruit Flavors)
PHILIPSBURG NEWS STORE CHAS. WILL IAMS.
* *
Of All Kinds Go to the Exclusive Boot and Shoe Store of
J. G. M'L.OD
Buttons! Buttons!
Having received machinery and sup
plies for the manufacture of buttons, I
am now prepared to make all kinds and
sizes of cloth buttons to order. Fancy
buttons for dressmakers' and tailors'
use supplied on the shortest notice.
Fine Merchant Tailor - - . Kely.
`- -Opera House Blocky
si;'ýzS9`444449 44 4444 44 7$~~S~~~$9~~$55~~~~$a
J. A. AND J. B, FEYAITHERMAN,
NEW CHICAGO AND DRUMMOND.
DEALERS IN
FINE GROCERIES, DRY GOODS AND HARDWARE,
W, 1. Wood's Reapers, VMowers and Rakes,
HELENA PRICES. Twine Cheaper than Anybody.
THEODORE. ANDERSON,
DEALER IN
LUMBER AND COAL
Rough and Dressed Lumber, Shingles, Doors, Windows,
Building and Tar Paper at Lowest Prices.
THE CELEBRATED GALT HEATING COAL
LUMP, $8 C. O. D. NUT, $5 C. O. D.
_PENNSYLVANIA ANTHRACITE AND CUMBERLAND BLACKSMITH
Neat,Trim and Attractive
applies to all
printing that comes from our shop.
THE MAIL PUB. CO.,
Lower Broadwpy, Philipsburg, Montana.
KROGER'S BREWERY CAPorietoOGE
KES AND BOTTLE BEER CONSTAITLY ON SAND,
Orders by al., or. m At A i rnery, Will PHILIPSBURG, MONTANA
Reoe~re Promp t A lon.
THE 1ONEY QUESTION
Another Goldbdf Assertion En
tirely Demolished,
Senator Jones on Foreign Trade.
The Rate of Exchange Is in Pro
portion to the Purchasing Pow
er of the iunits of the Money
in Each Country-Money.
The advocates of the gold standard
lay great stress upon the necessity of
our money being as good as the money
of any other country.
Yet we know that with a given
amount of gold we can buy twice as
much labor in England and three times
as much on the continent of Europe as
we can in this country. How, then, can
any comparison whatever be made be
tween the moneys of the respective
countries, and is it not absurd to talk
about the money of this country being
kept as "good" as the money of any
other country?
The value of money in any country is
based on its purchasing power in the
Country of its coinage or issue. Any
person in one country who wants the
money of another country can buy and
must buy that money with such goods
as he may have and at such rates as it
can be got for, measured by the prod
ucts of that country.
If a man abroad wants to buy some
particular product in the United States,
he will purchase the money of the Unit
ed States with that of his own country,
and with our money he or his agent
will buy and pay for the product of
which he is in need. In other words, he
will buy a bill of exchange on the Unit
ed States. The very purpose of a bill of
exchange is, as it were, to transmute the
money of one country into that of an
other. As to any two countries, the
money of either will, to the full extent
of the export trade of that country, buy
on absolutely equitable terms the
money of the other country, of no mat
ter what material the money of either
may be composed. The ratio of the two
moneys in exchange will, of course, be
proportioned to the purchasing power of
the units of the two in their respective
countries.
This rule holds good, no matter how
poor a country may be. Even in the case
of bankrupt governments it holds per
fectly good.
For instance, the money of Turkey,
whose bonds are worth little or nothing,
is as good in London as in Turkey, up
to the limit at which English merchants
have to pay for goods which they have
bought from Turkey, minus, of course,
a small percentage for exchange and
charges, as in the case of the money of
any other country.
Or, again, suppose there were in Lon
don a sum in Japanese yens equivalent
to £10,000,000, and that 40,000,000
yards of Japanese silk were imported at
5 shillings a yard. That money would
pay for them, and after deducting a
small charge for exchange would, al
though not legal tender in England,
have in London all the value it had in
Japan.
The money of this country will like
wise, on terms absolutely equitable, buy
the money of any other country to the
extent of our exports. Should there be
an excess of importations from gold us
ing countries over exportations to such
countries, there would be a small pre
mium on exchange.
These are matters for adjustment be
tween exchange dealers and those who,
without foresight, send goods here from
abroad to be sold in our market, or who,
living here, buy abroad more than can
be paid for by the exports of our own
country. Losses of exchange should ndt
be made to fall on all our people, but
only on those who are responsible for
them. Any country that has a balance
of trade in its favor can always to ad
vantage get so much of the money of any
other country as it may need.
Want of Parity No Obstacle to Foreign
Trade.
The absence of a parity between the
moneys of nations does not affect' their
foreign trade, as some would have us
believe. I challenge any gold staidard
person to point to an authority of re
pute on political economy who anywhere
pretends to assert that any nation hav
ing money other than gold is or can be
injuriously affected in its business or
other relations by any variance in what
is called the parity of moneys. The
money of this country, whether gold,
silver or paper, will always command
--will/always purchase-upon equitable
terms, the money of any other country
with which we have commercial rela
tions, whether those relations be direct
ly with itself or through other countries.
Bank of England notes will' at any
time and at equitable rates of exchange
buy the money of any other country
with which England has commercial re
lations, direct or indirect. Why? Not
because they are payable in gold, but
because they will command commodities
in Great Britain. The ultimate object
of money is to command goods--to pur
chase commodities. Money is an order
for goods in the country of its coinage
or issue, a guinea, as Adam Smith says,
being nothing more than "an order for
goods on all tradesmen in the neighbor
hood." Any form of money that will
command commodities in Great Britain
can, therefore, in any country of the
world be exchanged at equitable rates
for the money of other countries, be
cause almost all countries have com
mercial relations with Great Britain.
Should the conimodity ...sirei be g.ld
itself, the situation is in no sense alter
ed. The principle is the same. Even
gold coin is but a commodity in every
country except that whose stamp it
bears.
Where, as in Europe, a number of
small countries lie close together and
the plane of living of the people of all
such countries is about the same, espe
cially if travel between them is very
general, the utility of what may be
termed an international money is much
more obvious than under other and di
rectly opposite conditions.
The Position of the United States.
,Where a country is of continental pro
portions and separated by thousands of
miles of broad ocean from another coun
try possessing a certain character of
money; where also the manners and cuns
tonms of the people altogether differ, and
the level of life for the masses is much
higher; where, instead of 4,000,000 or
5,000,000, or even 20,000,000 or 30,
000,000, of inhabitants, the country has
70,000,000; where, too, a country is in
no way dependent upon oheCr countries
for the supply of its needs, but has with
in itself every element necessary to the
supply of all the wants of its people, but,
above all, where the spirit of freedom
and independence prevails to a degree
unknown elsewhere-there is no neces
sity whatever for a money system cor
responding with that of any other coun
try. On the contrary, when the situation
comes to be carefully analyzed, many
reasons will appear why it would be bet
ter for such a country not to have a finan
cial syctem to correspond with that of
other euuntries.
If money be necessary at all, it is nec
essary all the time. Whatever the vol
ume of money may be, that quantity is
needed every day and every hour of the
day. Th'ere is no circumstance of busi
ness or season of the year in which it is
not necessary that the volume should be
steady. The equities of all contracts de
pend upon it. In transactions requiring
deferred payment, justice is impossible
unless the raoney volume increases with
increase of population and demand. It
is as unwise, therefore, for the people of a
country to piermit their money to be tak
en aw: y in any material quantity as it
would be to permit the agricultural im.
plemeLts employed in the country to be
taken away when they were needed for
the op(Iations of agriculture-indeed it
would be more objectionable and injuri
ous to take the money than the agricul
tural implements, because the season de
manding the use of agricultural imple
ments is abort, while the season for
money is the entire year-and every day
of tIA.vear.
TA. voacates of the gold standard
lay gieat stress upon the fact that 95
per cent, as they call it, of the business
of the world is transacted now with
checks, drafts, notes and bills of ex
change. Ninety-five per cent of the busi
ness they regard, and rightfully regard,
as a very large percentage, but when we
show that 95 per cent of our business is
domestic business, is a business between
our own people themselves, and not be
tween our own people and foreigners,
then the 5 per cent done with foreigners
becomes of enormous importance, while
the 95 per cent done between our own
people is a matter of no consequence
whatever !
Suppose Contracts Were Mrade Not In
Terms of Money, but Wheat.
Suppose the people of the United
States in all their dealings, foreign and
domestic, should make their contracts
for payment not in dollars, but in pounds
of wheat. Suppose the foreigners insist
ed that in these transactions the Ameri
cans should use the system of scales and
weights that were used abroad. And
suppose we found after awhile that ac
cording to the foreign system the specific
gravity of the pound weight was con
stantly and wrongfully increasing. Sup
pose that upon this discovery objection
was made by many Americans to mak
ing payment according to this foreign
standard. What would be thought of
other Americans who should noisily in
sist that payment should be made to
these foreigners according to the pound
which was constantly increasing in
weight, although they knew or could
readily ascertain that this increase of
weight was surreptitious, clandestine
and fraudulent?
Suppose the payments to have been
made, however, according to the inter
pretation placed upon the contract by
these noisy Americans, many, of whom
regarded themselves as citizens of the
world rather than of the United States,
and that all foreigners declined to enter
into further obligations except upon the
understanding that Americans making
foreign contracts should use these for
eign scales and weights. Very well.
What injustice could there be in letting
such of our citizens as insisted on mak
ing foreign contracts on those terms
carry out their contracts according to
their agreement, letting each man indi
vidually pay his indebtedness to the for
eigner according to the terms and under
standing of the contract and according
to the scales and weights of the foreign
country?
But what objection could there be to
permitting all the remainder of the peo
ple of the United States conducting their
business among themselves according to
the scales and weights which were the
standard in the United States-scales
and weights by which exact justice may
be meted out between citizen and citizen ?
Prosperity cannot come from injustice.
Let our people among themselves have
just weights and measures; let the for
eigners have such weights and measures
as they please. Those who make con
tracts with foreigners may use any scales
(Cantinued on 4th page.)
THE OCTOCENARIANS
Who Are Making a Life Race With
the Present GentdrU,
Great men of Europe 1l1'o Mllny
live to ee th. e ('lose ot the
Year 18i0 -- Glad.stone. Pope
LIeo and Plrialwce BI.ILInl ek
Are Amoig the Number.
Of the three notable octogenarians of
Europe Leo XIII., the supreme pontiff
of the Catholic world;' Gladstone, the
ex-premier of England, and Bismarck,
ex-chancellor of the German empire,
the oldest is Gladstone, who was horn
in 1800, and the youngest is Bismarck,
born in 1815, while the pope, who was
born in 1810, is but two months younger
than Gladstone.
The three octogenarians. says the
New York Sun, differ as greatly from
each other in their genius as in their
life work. Each of them possesses ex
ceptional traits of character. The pope.
is spoken of as the "Pacificator," Bis
marck as the "'Man of Blood and Iron,"
Gladstone as the "Grand Old Man."
The only one of these yet in active
service is the pope, who was elected as
supreme pontiff in 1878. Prior to that
time he had been archbishop of
Dainiata, apostolic nuncio to Belgium.
bishop of Perugia, arid member of the
college of cardinals.
Gladstone was a member of parlia
ment as early as 1832. He subsequently
held a great variety, of offices under the
government, including the oiice of
chancellor of the exchequer. lie was
premier for the first time as successor
to Disraeli in 1808, and for the second
time in 1880, and for the third time in
1886, and for the last time from 1802 to
1894, when he resigned. lie has been
the author of many books, theological,
classical and political.
Bismarck's career has been less va
ried. In 1848 he was chosen a member
of the second chamber of the Prussian
diet. lie was subsequently Prussian
embassador to St. Petersburg and to
Parii, Prussian minister of foreign af
fairs, and finally, in 1871. chancellor of
the German empire, which he held un
til he was relieved by the present
kaiser.
Of the three octogenarians, the pope
is the one who possesses the most amia
ble and kindly disposition; Gladstone
is a man of warm temper, which is apt
to become hot when aroused; Biismarck
is a person of exceeding irascibility,
which characteristic, however, accord
ing to all accounts, has become greatly
ino:lified since his fall from power.
The pope is the most eminent Catho
lic scholar and theologian of his time;
Gladstone is a man of vast and varied
learning; Bismarck has made no mark
upon the age outside of statecraft.
The pope's activity in the business of
'the church is ceaseless. He keeps
watch of his charge in every country;
he receives and holds intercourse with
prelates, priests, and other visitors
from all parts of the 'world; he com
poses encyclicals upon many subjects;
he labors incessantly for the un.fina.
tion of Christendom; he performs all
his duties in a manner at once precise
and vigilant. Gladstone, though re
tired from office, is busy with one
thing or another every day of his life.
He is engaged at literary labor; he
travels at home and abroad; he keeps
an eye upon the affairs of church and
state; he gives utterance to his views
upon public questions and retains his
interest in them; his powers seem to
be in excellent order; lie takes the
greatest enjoyment in life and action.
He may yet again be heard-in parlia
ment. Bismarck, the youngest of the
three octogenarians, has passed into
retirement for the remainder of his ex
istence. lHe himself has told, within
the past few weeks, of the effort he
had to make to take part in the cele
bration of his eightieth birthday, and
to receive the many delegations which
have waited upon him; his participation
in the ceremonies has been a hard trial
for him; his speeches to the delegations
have been very laborious and short;
and it has frequently been necessary
that he should receive the help of his
friends while moving about.
Gladstone's thoughtful, careful and
venerable wife lives to cheer his years;
it was but recently that Bismarck be
came a widower; the supreme pbntiff
never marries.
There are often reports about each of
the three octogenarians that his death
is at hand; but at least two of them are
ceaselessly busy, and only one of them
talks gloomily. It would seem that
the pope is never kept from his duties
by the condition of his health. It is
certain that Gladstone's occasional ail
ments are of short duration. Bis
marck's frame has been more seriously'
shaken than that. of either of his two
contemporaries. Yet it were idle to
speculate upon the prospects of life for
any one of the three. It may be that
the oldest of them will outlive the
youngest.
It is not in every age of the world
that three such octogenarians as those
here spoken of are seen. It is not
often that three veterans of their dis
tinctiveness of character hold such
places in the world as they have held
contemporaneously. There have been
but few instances in which a pope of
the years of Leo XIII. has been as
active as he is. Gladstone is without a
parallel in British annals. Bismarck is
without a rival in the past, as he was
the first chancellor of the existing Ger
man empire.
The three octogenarians must occupy
a large place in the political and eccle
siastical history of the nineteenth cen
tury.
Il:Ilant Colonels.
The infant son of the prince of Bul
garia, now a year old, has, in honor of
his first birthday, re ceived his promo
tion from t!:c rank of lieutenant colonel
to that. of c i,:;nel 'onimandant, of the
Foulrth rcgii. c:n o' i.husars. lie isone
of about i; hlui.!re:l colonels who are
still in ptti.o.its ntl knickerbrc-kers,
every m:ile me'nhr; of the reigning
house of Iu:;in iceiving a patent of
colonel at hi:i hlaptisln, while . German
princes of I1, 1' *... ' rieceive their first
eomml;,,ion :..i .: :::nthi birthday.
FACTS IN FEW WORDS.
OnsaRVIIN hiarlers d(eclare that men
with heavy bieards arc most apt to be
bald.
TT is not illegal to deface coins, lnbut it
is illegal to deface them frandulently.
The American flag may not be used
lawfully as an advertisement.
Til: breeches worn during the reign
of Francis I. were often two and one
half yards in circumference and stuffed
with bran or sawdust.
A sIzrE in a coat or trousers is one
inch; in underwear, two inches; in a
sock, an inch; in a collar, half an inch;
in shoes one-sixth of ia inch; in g'loves,
a quarter of an inch; in hats, one-eighth.
RAILROAD FIGURES.
IT is said that at least 400 car fender
patents have. been taken out.
Or the 161,000 miles of railroad in
the United States in 1889, 71,000, or
nearly one-half, were west of the Mis
sslsippi river.
T'iin: length of new railroad built
during the year ended on June 30,
1893, was 440 miles, and during the next
succeedinig year 38 miles.
IN nearly all the American cities the
street railway companies say that the
rapidly extending use of the bicycle
lhas hurt their business greatly.
DURING the past 12years nearly 10,000
miles of narrow-gauge railroad have
been either converted to standard
gauge or abandoned entirely in the
Utnited States.
TIrE new shops of the Baltimore &
Ohio and the yards to be Iuilt at Cumn
berland, lMd., will be the most exten
sive in the country.. The buildings
alone will cover 650,000 square feet.
EVOLVED FROM GREAT MINDS.
IT is a great sin to swear unto a sin,
but greater sin to keep a sinful oath.
Shakespearc.
NAMh~ R, says an old maxim, are things,
They certainly are influences.-Tryon
Edwards.
WERIuEa all are selfish the sage is no
better than the fool, and only rather
more dangerous.-Froude.
WHAT thou wilt thou shalt rather
enforce with thy smile than hew it
with thy sword.-Shakespeare.
IN matters of prudence last thoughts
are the best; in matters of morality
first thoughts. -Robert lHall.
IIE enjoys much who is thankful for
little; a grateful mind is both a great
and a happy mind.-Secker.
The mineral land commission are now
at Townsend, where they will classify
lands in that vicinity. They will work
down thevalley and on both sides of the
river. During June the commission
classified seven townships. This is a
large tract. and it took a great deal of
enegetic work to go oyer it all. The
board classified but two townships in
May, but it did not commence work un
til late in the month. It the commis
sioners were able to classify seven town
ships a month eight months out of the
year. which it is not probable they will
be able to do, it will take them more
than seven years to classify all the lands
in the Helena district.--Independent.
Mrs. Catherine O'Leary, owner of the
cow that, in October, 1871, kicked over
the lamp which started the blaze that
cost the city of Chicago $190,000,000,
died last Tuesday at her home in that.
city.
From statistics furnished by the
steamships and their vassenger comole
ment it would seem that working men a
the rate of 1000 per week are landing in
South Africa.-Barberton (S. A.) Herald.
"Oh, where can rest he found?" a
weary poet sighs. That's easy. Drop
into a store that doesn't advertise.--Ex.
Advertlsed Lel.ter la.s.
Letters remaining uncalled for in the
Phihipsburg postoffice for the week end
ing July 10, 1895. When called for
please say "Advertised."
Blain, C D McPherson. McNeil
Dilalough, Dave McLeod. Mrs Christy A
Eisemann, Pearl-2 Nilsan, Klaus
Lively B H Redmond. Alex
Main. JO 0 tinson, B
ALLAN P. BOWIE, Postmaster.
Awarded
Highest Honors-World's PFar,7
,DR.
CREAM
BAKIN(G
POWDIR
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A pure Grape Cream of Tartar Powder. F.ee
from Ammonia, Alum or any other adulterant.
40 YEARS THE STANDARD.