"Coin's Financial School.''
rank Leslie Magazine.
A correspondent in Genesee, Illi
nois, aska ua to reply to a book call
ed "Coin's Financial School,'" which
he says, is making as many converts
lo free silver aa "Uncle Tom's Cabin"
made to the anti slavery cause.
"Coin's Financial School" seems a
kmart book to a person who is whol
ly unacquainted with the facts of
which it purports to treat. It's chief
fallacy consists in assuming that sil
ver has been chiefly, if not wholly,
affected in its price by the act of
Congress of 1873, dropping the
standard silver dollar from the list
of coins of the United States, and
making the gold dollar the unit of
American coinage. This is false
and impossible, for so many reasons
that a few of them only need be
cited.
Merely dropping a coin from the
coinage of a particular country, or
declaring that coin of a different
metal shall be the unity of that
country, does not lessen tbe value of
tho metal of which that coin is made.
Jefferson, when President, ordered
the coinage of the standard silver
dollar stopped in 1805, and none
was coined until 183(1. It did not
affect the price of silver. England
stopped the coinage of innumerable
coins at various times, and changed
standards once or twice.India chang
ed her standard from gold to silver
in 183.J without affecting the value
of gold; Holland, Belgium, and
Portugal denied free coinage to gold
between 1S52 and 1858, when gold
was the cheaper metal, but no such
act exercised any influnence over the
price of bullion of either metal. To
affect the value of a money metal
something must occur which either
increases or lessens the use of the
metal, or its supply or its cost of
production. Merely passing a statute
may set in motion interests whose
operation will in time increase the
demand for the metal, dimish the
supply, or lower or raise the cost. If
either of these consequences occur
as an effect of the statue, then these
consequences may become the causes
of a change of value. But in such
cnee the pertinent fact to Bhow is
tha very cause itself, i, ?., the di
minished demand or increased sup
ply; but to cite the statute itself is
as idle as to cite the song of a black
bird.
"Coin" never attempts to show in
what degree the act of 1873 lessen
ed the demand for silver or increas
ed the supply. Hence the author
traces no sequence between the
statute and the fall in silver.because
there in none. In fact, silver had
been worth from two to five cents
more than gold from 1S53 to tbe
enactment of the statue twenty years
ago. Hence, whoever would haye
taken silver to the mint to be coin
ed durin that twenty years would
have lost from three to five cents
per dollar on every dollar he got
coined. This raises a strong pre
sumption that no person took any
silver to the mint to be coined, not a
dollar's worth during the twenty
years preceeding the suspension of
privilege. So far aa any was coined
it must have been the act of the gov
ernment itself in coining into new
Americans coins some of the old
foreign silver coins which it received
in payment of duties. About five
millions in eight years and only
eight millions in eighty years had
been so coined. Hence the privilege
of free coinage of silver in the Unit
ed States had not been worth a cent
to the government nor to any hold
er of silyer in twenty years, and it
bad had no value which had influen
ced or been capable of influencing,
the price of silver at any time At
the time its coinage was suspended
America was on a greenback basis,
and continued so for seven years
thereafter. Silver was practically
hidden out of sight by a double
shield. The greenback (issues had
kept it for twelve years at an aver
age premium of thirty per cent over
paper, and it wai so much dearer
than gold that it was regared as cer
tain that when we snould resume
specie payments it would be in gold
and not in silver, aa being the cheap
er metal.
TVe were producing almost so sil
yer, and had no silver party. Mean
while Germany, France, and
India were all doing acta
which tended to greatly lessen
the demand for silver and increase
he demand for gold. Germany had
been through a great war with
France in 18701, and had exacted
the payment in 1871 of one billion
sixty-three million dollars in gold.
ranee had paid part and was pay
ing the rest when Germany resolved
to withdraw one billion four hun
dred millions mark3 in silver from
circulation and sell it as metal, and
to coin up one billion four hundred
and sixty million marks of gold. An
idea of the effect of this transaction
on the market may be formed when
we say that it meant that Germany
turned from coin into commodity
twenty-five thousand three hundred
and seventy-five tons of silver, and
called in from the gold market one
housand six hundred and ninety-
two tons of gold bullion uud convert
ed it into coin. This is no idle work
resting in mere printer's ink. It is
hard, concrete tonnage of silver
thrown on the market, such as could
not have been drawn by a procession
of oxen and carts thirty-six miles
ong, occupying five yards in length
for every team carrying two tons of
silver. It amounted to a tenth of all
the coined silver in the world
Germany's passing over from a
silver to a solid gold basis kept her
mints very busy from 1S71 to 1874.
When it began silver was dearer
than gold, but by 1874 the premium
on silver had disappeared and silver
was at a slight discount. Owing to
this discount the thirty six miles of
cart loads of silver she was releasing
and putting on the market for sale
as a commodity began to come over
into France in large quantities, to
seek re coinage into French francs
under the double-standard system
which France had always maintained
In one year (1873) the offers of silver
at the French mint rose from an
average of eleven million francs
when silver was not at a discount,
to offers of one hundred and 19 mil
lion francs when silver had passed
to a slight discount. This looked to
France aa if, as the discount grew.
the whole flood of Germany's cheap
Bilver would be presented to her to
convert into cold. France became
alarmed at the quantity of stiver of
fered her, and stopped the further
free coinage of silver in 1874.
Meanwhile, also, about a fourth of
the world's annual product of silver
had for the century preceding 1871
been drawn oft to India in payment
of the average balance of trade to
that country from Europe, arisii
from the fact that India sold to
Europe more than she bought. But
in 1871 the great loans which Eng
land had been making in India so
increased the interest due from In
dia to England on these loans that
no drain of silver to India was called
for. This also lessened the demand
for silver in Europe, and the two
metals began to widen seriously in
value.
Had France aud the United States
both continued the double standard
and free coinage, France might have
checked the downward tendency o
silver by submitting to have her
gold drawn away from her by grad
ual exchanges of her gold for the
silver of Germany. In 1871, how
ever, the reserves in gold and silver
together of the Bank of France had
been drawn down to only seventy
nine million dollars, ana tuts was
more largely of silver than of gold
Hence her supply of gold woulc
have been drawn off probably with
in a year, and she then would have
been reduced to buying silver bul
lion with her own silver ccin, which
would have sent her silver coin to
the same discount aa the bullion.
The United States could not have
held up silver by free coinage for a
day, because in 1S73 it had in the
treasury no gold coin, nor even any
6ilver coin worth speaking of, to
sustain free coinage with. It was
getting in customs duties U6t
enough specie to pay coin interes
on its bonded debt, and no more.
It will thus be seen that wha
"Coin's Financial School treats as
the whole cause of the fall in silver,
viz., the act of our American Con
gress in 1S73 dropping the standard
silver dollar from coinage, did no!
lessen the demand for silver by
grain, nor increase the supply, nor
lower the cost of production. It
wan as powerless to hurt silver as a
chipmunk. But there were causes
operating in other countries ade
quate to depress the Talue of Bilver
Terr greatly. These the United
Deacon Bros. & Co,
Heavy an.l Sheif Harlwatv. Cutlery and linns
Tinware :and fetovea. Field and Garden
Seed, Baggies. Wagon., and Farm
Machinery, wagon, wood-work. Iron.
Steel. NalU, Sa'.t.JBarb Wire.
15u?gy Panits, Machine Oil.
Groceries and Farm Produce
Very Little Ice
It is necessary for the Lightning Freezer, like
wise very little money . In fact, very little
money is needed when yoa come to our store,
anyway .3
Beginning with Ice-cream Freezers, we keep
everything that calls itself hardware, down to
tack.
And its all good, substantial ware, too. You
can rely uon it. Hardware is a necessity , not
lnxnry, therefore it should be what it Is
claimed for'it.
Deering Ideal Mower.
The man who fails to examine tiiis mower be
fore he buys, ia going to miss it, and miss It
badly Like the Deerinsr Pony Binder, it runs
on roller bearings.
THINK?!!!
Why dorit Thy lilTfe
Deerings
Roller
Bearing
Make
r'.T Virifer dhtfa on rhif
Sft.Roiierawight Draft
SS5r And save
VXflK'Ta Mr
Horse flesh
Will you
Roll or
Will you
Scrape?
Groceries.
We turn over very fast,
Thns we can always fnrnish fresh.
Country produce always wanted
For trade or cash.
DEACON BROS. & CO.
Low l'rice Hardware and (i "ocery House.
States could not have controlled
even by continuing the free coinage
of Bilver until compelled to suspend
it. i or so to continue the free
coinage of silver she must have had
a stock of gold coin on hand suf
ncient to purchase hII the silver
ottered for coinaure. Ia default of
this she could only have offered
coined silver fur uucoiued. and this
would have driven our stiver coin to
the same discount as the bullion
Free coinage of the trade dollar.
which was legal tender up to five
dollars, was by the act of 1S73 sub
stituted for tree coinage of the
standard dollar, and so continued
until October, 1877, only five months
before coinage under the law of
1878 was resumed at a rate never
i t - i n it i
ueiore equaieu. xience mere was
no t.ctual suspension of free coinage
of silver dollars of some kind except
for five months in the winter of
1S77-S, at which time silver had
fallen to forty six c-mts per ounce.
and the bullion value of a dollar to
about eighty cents.
xnere are many otner iamcies in
n i . it 1 1 -
"uoins financial dcnooi, sucn as
that demonitization of silver occas
sioned a contraction in the volume
of money, whereas the volume of
silver money has never in tbe history
of the world increased so rapidly as
since silver was demonetized. Its
actual coinage since free coinage
ceased has amounted for the world
to thirteen hundred million dollars,
addition of nearly fifty per cent to
the whole Bilver supply, and for the
United States to about five hundred
and flfty-eight million dollars which
is sixty fold as many standard dol
lars as we heve coined in a century
Hence, instead of a contraction of
silver sending down prices, we have
had an enormoua inflation of silver
fully adequate to send prices up and
make times prosperous if silver
would do it.
To meet this known fact the doc.
trine has been invented that price s
of commodities so far as affected by
money, depend on the volume of
money of final redemption only, in
stead of all means of payment trail
able for the purchase of commodities.
It is sufficient to say that no such
a doctrine has ever been held by any
economist of great or little repute,
living or dead. 'It has been invented
to meet the known fuct that we have
been passing through a vast inflation
of coined silver since the free coinage
of silver was suppressed, and 'hence
on the theory that prices are regu
lated by volume o; money, prices
ought to have gone up.
FKLLOW-SEKVANTS.
Senate Labor Committee to Report a
Railroad Bill.
Jtfl'erson City, Mo., May 6. This
afternoon the Senate Labor Com
mittee, by a vote of seven to three,
reversed itself and reported an ex
clusive railroad fellow-servant bill,
radical in its nature and conforming
absolutely to the term3 of the Gov
ernor's call. The bill reported reads:
"Section 1. Every corporation in
this State owning or operating any
railroad shall be liable for all dam
ages sustained bv anv emplove
thereof result'cg from the negli
gence of any other agent or employe
of such corporation while engaged
in the service of such corporation.
"Sec. 2. No recovery 6hall be
had by any person by this act when
the person injured shall be guilty of
negligence directly contributing to
such injury. Any contract by which
any person mey waive in advance
any right he may have under this
act shall be illegal and void as
against public policy.
''Soc. ''. Iu case any person in
jured in the manner prescribed by
this act shall die, a right of action
for damages shall survive for the
benefit of his heirs and such action
may be instituted by his executor or
his administrator."
(hovei ami the Triplets.
Decatur, Ind., May C. A few
weeks ago the wife of Albert Zerkles
a poor farmer, residing three miles
north of here, gave birth to triplets,
all girls.
Acting on a suggestion of
friend, they were named Ruth,
I ranees and Ester, and in a rude
but happy manner the father wrote
Urover Cleveland telhug him of the
event, and christening of his babies,
ana asued mm to uuy eacn a new
Iress. Imagine tbe father's surprise
one day last week on receiving
check for 500, signed by Grover
Cleyeland.
Silver in Illinois.
Spriugheld, 111., May 8. Secre
tary of State Ilinrichen, chairman of
the Democratic State committee,said
to-day that twenty counties have so
far held conventions, and withou
exception they have declared for
free silver at the ratio of 16 to
"These twenty counties," said Mr,
HinrichseD, "have 463 of the 1,07
delegates in the state convention, eo
that the gold men stand a very poor
snow or making any ngnt at ail in
the convention. I am expecting that
the State convention will declare for
free silver without a dissenting vote.
Denver, Colo., Miy 9. Thomas
Gwillin, aged 23, employed as driv
er on express has received word tha
he fallen heir to $600,000 by the
death of a distant relative in Ens
land, and that a letter so notifying
hiai inclosed draft for .11,000 to en
able him to reach home. - He boujjbt
a third class ticket through to Lon
don this morning for $43, and left
on the first train.
PRICE
REDUCED,
SIZE
INCREASED.
THE SUBSCRIPTION
PRICE OF THE
KANSAS jCITY TIMES
HAS BEEN REDUCED
TO $4.00 A YEAR.
$2.00 FOR SIX
MONTHS; $1.00 FOR
THREE MONTHS.
This is not a campaign rate,
but a permanent thing. THE
SUNDAY TIMES enlarged to
24 pages. Think of it ! About
lc a day for a first -class me
tropolitan newspaper. Every
one can now afford to take a
daily paper. Subscribe at
once. The Times always leads
Address,
THE KANSAS CITY TIMES
KANSAS CITY, MO.
Secretary Gresham's Condition.
Washington, D. C, May 6. Sec
retary Gresham ia still a very sick
man, although it is said he passed a
good night and was somewhat im
proved to day. His various compli
cations, including pleurisy, appear I
to be yieldiug to treatment, and hia j
friends are encouraged at the favor- j
able symptoms. Dr. W. Y. Johnson j
is now m cuarge oi iue rase, aim is
hopeful of a steady improvement.
The Secretary is very weak from
lack of nourishment, and is still
confined to his bed. He is unable
to see callers, and is carefully guard
ed against all causes of excitement.
As soon as he is able to stand the
journey he will be taken to Fortress
Monroe, and to some other near-by
resort.
Willielm'si Life. "
Berlin, May t. Two Anarchists
were arrested on tne evidence or a
woman wiio overheard them discuss
ing the eae with which the Emper
or might be ussassiuated on his wav
to the Temple llferfeld.
The woman declared that they
had buried explosives in Friedrichs-
rin, but tne ponce found notuing at
he spot indicated and obtained no
evidence confirming the woman's
tory. The Government papers are
not likely to get much capital out of
he affair to help the anti socialist
bill.
FOR THE BLOOD
Just now everybody is thinking about
taking something for the blood.
A Spring medicine as we speak of
it. Ana it's a pood thing to Jo, but you
want to pet the proper medicine. If you
consult your physician he will tell you to
TaKe
GOOD LIVER
PIEQICIKE
and that, because the liver has every
thing to do with the blood. If the liver
is sluggish the system is clogged, the
blood becomes impure, and the whole
body suffers. Every medicine recom
mended for the blood is supposed to
work on the liver. Then get at once the
King of Liver medicines,"
Simmons liver
REGULATOR
It does its work well, and tones up the
whole system. It is'" Better than Pills,"
and can be had in liquid or powder.
USEB SUITES' INK
A. S. Barnes A Co., ,v; E. lih St. N. Y.
w
antod-Salosmen
Local and traveling, Good pay. perm
anent Experience not neceRsarv. An.
ply quick. Established over 40 ye erg I'ha-nlx
Jfcursery Co.. Box li'l", lsioomington. 111.
WANTED A Few More Book Ac'ts
in this and adiolntnir counties Tor
our jocimy a non h the would
A bran new book by REV. FRANCIS E
CLARK, Pre'l of tbe United Soc. of Christian
r-naeavor. The best chance to make money
ever offered to all who want profitable wort
A good Agent in this vicinity can earn )m i
month. r-Uistance No Hindrance, for We
ray treiirht, Uive Credit, Premium Copies,
Free Outtit. and Exclusive Territory. For par
ticuiars write to A. U. WOKITUNUTON
iCO., Hartford, Conn.
k rfeteiaertrr'n F.nclUh Diamond Hrand.
rENNYROYAL PILLS
-K7v nfl aa Only 6ealae.
y rc. ajvari rrlUbl. udiii ul
Draralrt lor CkirkaUft Mntfuk In
,tond Brand in Kr4 tad Cold ntuliic'
Imm ether, tirftue daneei um mubtiti
Ibexn. nkd with blM ribbon. T.L.
in stanp for prttlmra, testimonial an
ttons and tmttofum. AtIrnristt,rMn4 4.
"Keller Tor Indira," ra letter, Lr rrtnrm
MalL 1 r.fr0 Tettimool!. Sawm
SM tr ul Imal ImuiM. Aklia4jL. vil
PARKER'S
M HAIR BALSAM
ClMtur and tmutifw the hj
Promote! a lavuriittt ffrowth.
Never Fails to Bestore Gray
nur xo ua iouuiui i;oior.
Cure wm;p iiM- & hair laiiiig.
It, end 1 1 m at Drugrwu
I r Parker's Ginger Tenic. It cure, t.ie ari Lujt:i,
Weak lmr. IrbiiitT, Indirection, Pain, Take Is lime. 6u da.
HINDERCORNS. The onW aor rare tor Coraa.
Bwpa a-, Ira.
'irui JJc at Iwutfta, or HfSCOX fe CO.. N. V.
Mil"!!
Ttlrr wrr 9 T rl 4 Tirr vrrim rf '
Hires Rootbeer sold ia 1894,
which made 15, 675,735 gallons,
or 313,494.700 glasses, suffi
cient to give every man, wo
man and child in the United .
States, five glasses each did
yon get your sh are ? Be sure
and get &ome this year.
a eeat vaefcae aata 5 tallaaa.
tma r-ertwaera.
MIRES'
tootkeei.
I Ota. K. I
IIECTKIC TElEFJIOrlE
j ooaK, wvi'vm aa aaca. Irnairt inaaaa
iiimux lad ht mima
1 -- 'yr - Bssssaa a saw t ail tk
The Best Spring Medietas
HtHJ
9
THE
Bates County Bant
BUTLER, MO.
Successor to -
Eates Co. National Bank.
Established in 1S70.
Paid up capital $125,000
A general banking business trans
acted. F.J. TVGARD, - - - President.
HON. J. H. NEWBEKm Vice-Prea.
J.C.CLARK - - Cashier
DR. F. M. FULKERS0N
ijivr.rissT.
Southeast Corner Square, over lea-
co liors. A: (.'s Store.
KUTLKK, - - - MISSOURI
T. J. Smith.
A.;W. TlUUMaN
SMITH THURMAN.
LAWYERS,
Ortice over Bates Countv Natn'l Bank.
Butler, Missouri.
QRAVES & CLARK,
ATTORNEYS AT LAW.
Office over the Missouri StattBank
North side square.
Silvers & Denton
ATTOBSETS AM C01WB8 AT LAW,
BUTLER, MO.
Office over the Farmers Bank.
11 C. BOULWARE, Physician and
.Surgeon. Office north side squae,
Butler, Mo. Dlseasesof women and chil
en a specialtv.
DR. J. M. CHRISTY,
HOMOEOPATHIC
PHYSICIAN AND SURGEON,
Office, front room over McKibbens
6tore.
Ail
callanswered at office day or
night
Special attention given
eases.
to female dit
c.
The Old Reliable
PHOTOGRAPHER
North Sitlts Square.
Hasthe bent equipped Kalleryin
Southwest Missouri. All
Styles of Photogrphing
executed ii.'the highest style of the
art, andat reasonable prices.
(
I f
Work A Specilty.
All work in my line is guaranteed to
give satisfaction. Call and see
samples of work.
C. HACEDORN.
In
Poor
Health
means so much more than
you imagine serious and
fatal diseases result from
trifling1 ailments neglected, y
Don't play with Nature's
f greatest gift health-
II yon are feeling
out of sort 1. weak M
aim Reneraiiy
haasted, nervous,
have no appetite
and can't work, J
Degin at once tak
ing the moat relia
ble streftfftheniuc
medictne.which ia J
a. . , ti -.
nou n a iron ren
ters, A few bot
tles core benefit
comes from the
very 6rt dam it
, ana n
pleasant to take.
It Cures
Dyspepsia, Kidney an Liver
Neuralgia, Troubles.
r Constipation, Bad Blood
lria. Nervous airmen t
Women's complaints.
riavt Mllv ItA U Lu mmA
M n wrapper. Ail others arc st-
W V (wtbrt va BU m, jari4 sa
fltltHfM aTa
fltlf fta atn rfi as kaf u . M
f of Tm aWasrUM World's
raw Tiitf aad book free.
SIOWN CHEMICAL CO. BALTIMORE. MO.
HMiEDBl
: Browns
Iron
: Bitters
P. HaniM A C CXra JO, Caaawbwltl