Punxsutawney Spirit, 1896-07-22

              Vj COST AT AND BELOW V •» 3r ' A Comparison ON ALL Hii nils mil Vests. White Du6k vests. Summer Goods REDUCTION SALE SP&GlftL. Silver in Japan. 4c. lO yards Lancaster Gingham, - 45c. 5c. i Our Mills carpet chain, per lb, 1 <»c. 10c. ; Unbleached muslin best you ever bought, 4c. 5c. it One of the best bleached muslins, nice, at 7c. NO. V HI* pnwrsttlWiitg Sfjidt lL MB. i JOHI B. BAIB. I JOHHB.BADL i PUNXSUTAWNEY, PA., WEDNESDAY, JULY 2% 1896. VOL. XXIV. PRKK CVINA8R CATECHISM. Ike I'llmlulni;. IliNtiim ud Anwm Wbirk Appeal la Favors a New Ticket- Will Not Support Bryan, and NEW YORK DEMOCRACY. UKS Men's shoes learance Sal very Lady Has been our July Clearance Sale, and for the interested in IBAIsANGE OF JUbY) Clearance Sale Ladies Sboes. stock ot Men s Shoes wc offer over1 at and liclow cost. Qualities nil the wa' As we wish to closc out our whota A reduction will Ik? made on ull our ladios' tiboee. Wo must make room for fall goods, so come and get the ln-nctit of the red no tion. Ladies Oxfords. All ludittT low shoes at first cost. Every pair must !><• sold. from $).*■£.'» to !*<>. Hla< k, tun and imt- Come Quick. ent leather. ty Doubly Interesting to Every One that Comes to Buy Good Goods at Low Prices. J9 Alab [Blue Prints, per yard, irkey Red Prints, Bleached sheeting, Shirtings,  B. Cunningham 6e Son. ----- , in addition to the fact that we sell carpets as cheap as any one In the carpet business all ingrain ;rain Carpets— carpets will be Matched and Sewed FOR THE SAME PRICE. Marrinii S 7 20 per cent off regular prices, any waist in the store for .'55 and 50c Shirt Waists. ( each, mostly small sizes. These prices good until August 1st. •Shoes—New stock for fall. Latest and cheapest in town. HILL&60. Resolved, That we favor promptly putting into the field as candidates for Presidency and Vice-Presidency representative Democrats on a platform of Democratic principles, and that the chairman of this meeting be authorized to appoint a committee of seven members to represent this organization in co-operation to that end with other like-minded Democrats in this and other States. Resolved, That we hereby repudiate and condemn the revolutionary and un- Detnocratic platform adopted at the late miscalled Democratic National Convention held in Chicago. It proposes to sub-1 stitite for our present standard of value, whici.' is equal to the best in the world, an unstable and depreciated standard which has been repudiated by every civilized and prosperous commercial nation, and which would put us 011 a monetary par with Chiua, Mexico and other countries where labor is noutoriously unpaid; it declares against gold monometallism, and advocates legislaton which must inevitably lead to free-silver monometallism; it advocates a monetary system which would offer an unlimited field of speculation to the capitalist, but would materially reduce the purchasing power of every dol lar paid to the wage-earner; which would punish honest thrift by depreciating the value of every savings bank deposit and every life insurance policy. It advocates a lil>eral pension policy, and at the same time seeks to impair the value of every pension paid by the Government; it condemns the only methods provided for keeping inviolate the National credit, and favors a policy which will in effect result in partial nspuditiaon of the public debt; it disapproves of the issue of National bank notes, secured by the pledge of Government bonds, and suggests 110 substitute therefor except 011 limited paper money, redeemable on a debased and fluctuating currency; It contemptuously omits all reference to the Administration of the only Democrat who for more than a generation has held the Presidential office, and whose integrity of purpose and firm determination to maintain the National honor has been recognized and acknowledged by all classes of his fellowcitizens.At a meeting of the New York State Democratic Committee, held last Wednesday night in which ninety-seven members were present, the Chicago platform was earnestly condemned and a resolution passed in favor of a new ticket. The resolutions were as follows. Hill <£ Go's ST. Pa. H. J. Loeb, ELnO STORE. Punxsutawney, Blende NEGLIGEE Shoes. STRAW HATS. suits. SHIRTS. GAUZE UNDERWEAR ALPACA COATS. Cut prices on all Russet With the pensioners the greatest sufferers from this policy of depreciation would l>e the masses of citizens who have small savings iu hanks or in securities, or who arc dependent upon their wages and salaries. Hut the Silverite demagogues boast that they intend to carry the war into Wall street and thus to avenge the people upon their oppressors. Wall street speculators enrich themselves in the operations of the money market; and a depreciated silver currency would give them opportunities such as they have never had. even iu the days of greenback depreciation. The cosmopolitan hankers who place the loans of natious would transfer their gold and their investments from United Suites bonds, payable in depreciated silver dollars, to the securities of Chile, Argentina, Russia or any other nation promising to redeem its obhgations. principal aud interest, in sound money—that is to say, in the money in which its debts wore contracted. Bryan, Altgeld and Tillman, the new race of statesmen and financiers, intend to show the country a way of paying old as well as new debts, public and private, with cheap silver dollars. Rut there is reasou to predict with confidence that before the November days the follow, fanaticism and the danger of the Silverite plans will have been exposed to the manufacturers, merchants, workiug men aud farmers of the land as to make their execution utterly impossible.-— Philadelphia Record, {Deni.) ! Should M. William J. Bryiin he elected President, with a Congress in harmony with his principles, there won hi he no need to wait for the enactmontof a Free Silver hill in order to realize its consequences. No sooner should the result be announced on the morniug after the November election than the crash would fall upon the country. T,he depreciation of the greenback currency was gradual, and wits therefore mitigated in a great degree; but the financial ruiu threatened by the Populist policy Would bo sudden and irremediable, tree coinage would be anticipated by an abrupt drop to the debased silver standard. The store of Treasury gold for the redemption of public obligations would vanish, and as fast as the fund should be replenished by borrowing it would flow out again like water through the sieve of the daughters of Oauaus. Hold would at once disappear from circulation as if the earth had swallowed it, and could Ik? enticed from its hiding places only by the offers of large premiums in depreciated silver. Prices of all the necessaries of living would rise with the depreciation in the currency: but there will be no rise in the value of the soldier's pension. The worth of the pension certificate would fall with the fall in the silver currency. fell to less than fifty cents on the dollar, the soldier's pay of thirteen dollars a month lost more than half of its purchasing power. The soldiers and their families were compelled to pay more than twice as much for all they I consumed as they paid when tin greentun k j was at par with gold. Bills have frequently been introduced in Congress to compensate the veterans for their heavy looses in a depreciated currency; but there would Ik no such bills, and no justification for them, if their pensions should shrink to half their present worth under the inevitable operation , of free silver coinage. The veterans who ' shall vote for this policy of repudiation will ! walk iuto the trap with their eyes open. There will be no excuse for the pensioner to be deceived by the pretense that tne free coinage of this cheap silver dollar means bimetalism, or the maintenance of this currency at par with gold. Such a thing is not in the power of the (lovernment; and the pretense of it is made only for the credulous who have 1 had none of the costly experience which the veterans obtained when their monthly pay in war time fell to less than fifty cents on the : dollar. 1 1 The Best. 8 lb pail lake herring, - 31c. lOlbsNo. 1, best mackerel, l.OO. 1 lb first class Eng. B. tea, regular 50c grade, - 25c. Same in gunpowder, - 25c. 6 lbs raisins, - 25c. 4 lbs California peaches, 25c. I -can best Oregon salmon, lOc. lO lb can leaf lard, - l.OO. II lbs loose lard, l.OO. Curtice Bros fine canned goods Regular everyday prices with some of the noted "clearance sale" prices will convince you that Hill & Co. are the people's friends all the year round. This sale has been going on all summer and will continuo indefinitely. The moral is: "Read the prices and visit the store : 11 lbs rolled oats, - 25c. 29 lbs good rice, - l.OO. EXPLAINING AN EXPLANATION. "Most of the Japanese get about iS cent* a day for labor, and this goes just about half as far as it did before. All imported goods must be paid for on the gold basis of foreign countries, for their Slver is not current in other countries just as ours is not. It takes two silver dollars to buy one dollar's worth of goods." Hr Dunn has been in Japan nearly 25 years. "The laborer gets that amount of a full yen's worth of work, but when he buys anything he pays for it in the depreciated com, and gets only 55 cents' worth for what is nominally a yen's worth of labor— that is, the purchasing power of the money he receives for his work is about one-half the value the work he performs to earn that money. Wages have not gone up, and the price of commodities has not lowered appreciably, while the purchasing power of the money has been cut in two. A Springfield, O., special to the Philadelphia "Press" says: Edwin Dunn, United States Minister to japan, a nephew of the late Allen G. Thunnan, "the old Roman," who lias been visiting relatives in Madison county, said yesterday at Chillicothe regarding the condition of Japan 011 a silver basis: "The establishment of the silver standard in Japan and the abolishment of the gold standard took place at about the time of the so-called crime of 1873 in this country. But the effects have been of a widely different nature. The standard coin of Japan is the yen, worth a few cents more than a dollar of our money. It has depreciated in value until it is worth about 55 cents, for the commercial ratio of gold to silver is, of course, just the same in Japan that it is in this country. leman From Clarion Mine* Aaka Some (jueatlona. Where Oar Trade literate An. in these depressed times, when millions of eam> ltal that ought to be invested in produutlf enterprises, in the building of railroads ai the development of the country, fa Ifiufiaib hiding places, trembling with tar of ftta threatened debaaement of the currency by II* cheap silver craze. All it can do to to makt occaaional forays, in which it adda little sithtr to ita volame or its reputation far naaAllsae. Besides, this .TO rent legal tender dollar would reduce the value of the ,000,000,000 that the laboring people of this country havn iu saviug banks 47 cents ou every dollar, to say uothiug of what they have in building end loan associations, life insurance policies, pensions, and of every cent they might have Invested in any way. But the would be that we would be certain to fcsffeon' unprecedented panic. Industries wouldbepaa* alysed, and work would be scarcer even ately sink to its bullion value, ns it would bs impossible for the («overnmeut to maintain IS at a parity by making it interchangeable with gold. Silver would then stand on its own bottom, and would Im> governed absolutely by the laws of supply aud demand—rising and falling according to the fertility ••rbarreunem of the silver mines. The country would also go immediately to a silver lias is. l»ecaugQ silver, being over-va' <• d at the mints, wonld be taken there to be <,oined,1u,,,i'«Y" ' V .'ij.iflworth mu< Ivrr.ore as bullion, would disappear entirely from circulation. The free silver advocates claim that the over valuation of silver at the mints would ium-ase its value. But all history aud all experience contradict this assumption. The truth is that, while a silver dollar would be nominally one dollar, it would in reality l»e but 53 cents, or whatever it happened to be worth iu the markets of the world as bullion. Therefore it would reduce the purchasing power of a dollar by nearly onehalf, and would of course reduce the reel wages of labor in exactly the same  To otrset this increase the workingman would have to receive double wages. Every workiugtnan knows that wages rise very slowly, while the prices of commodities go up and dowu in a day. The market value of 371J grains of pure silver, the amount contained in a dollar at the Id to l ratio, i> r»:t cents. With frc and unlimited coinage the dollar would iuimedt^ As to the second question, ' How will the coinage of silver at the ratio of 1*1 to 1 cut down the value of a day's wagin by nearly fifty per cent j depends always U|»on the fertility or barrenness of th- mines which happen to be known ! 11 Unit the time such exchanges are made, liut , as a measure of quantity, such as the upturn! ) j foot, fathom, or handful, which is continually i varying in its own quantity, can never be an  accurate measure of the ouantitv of other things, so a commodity which in itself is continually varying in its own value, can never be an acurate measure of the value of other < omniodities Kqual quantities of labor, at all times and places, may I*'said t° l*e of equal : value to the laborer. In his ordinary state of « ! health, strength ami spirits ; in the ordinary j degree «»f his skill and dexterity, he must af- j ways lay down the same |>ortiou < f |iis.cimb. ia his liberty and his happiness. The' pn8hfl| which he pays must always !».■ (liesame, what- 9 ever in:iv be the quantity of good- which h® v receive in return for it. 1 >f thine indeed it 1 may sometimes purchase a greater and som»- ' times a smaller quantity, but it the value ' • •I the goods vs hieh varies and not of the labor j which purchases them. At all times and place* that is dear which is difficult to come at, or which it costs much laln»r to acquire; and that is cheap which is to Ik* had easily or with little labor. Labor alone, therefore, never varying in its own value, is the ultimate and real standard by which the value of all commodities can at all times and places be estimated. It is their real price. Money is their nominal price only." Q. Then would suspension of gold par men t on government note* injure all holders of ■uch notes? A. Sooner or later it would cheat every man with a dollar bill in his pocket. Q. Hal thil ever actually happened? A, During our civil war, when the gold itandard wm abandoned, the Government paper money depreciated to 50 per cent, of ita gold value, the gold premium row above 100, and there waa a frightful advance in prices. Q. How would inch depredation show itself? A. By an artificial and general rise in prices, without a rise in wage* and salaries. y. What difference would that make to a holder of a government note—say of a dollar bill—who did not care to uae gold? A. Hia dollar bill would depreciate along with all other (tovenment notes. Since it no longer could exchange for a dollar in gold, it would no longer bay what a dollar in gold would buy. (/. Suppose all the (old iu the Treasury reserve were to be used up; what would happen? A. The Uoverament could not pay gold coin to the holders of its notes (J. How long did this prosperity last r A. Until the silver coinage movemeut was again threatening our maintenance of the gold standard. (J. What happened then ? A. Hold payments into the Treasury almost ceased, and gold withdrawals through redemption of (Jovernment notes grew larger. I}. Wero those two years a period of prosperity'/ A. For this country a period of unparalleled prosperity. <}. How do you know that 1 A. As early as September 111, 187!». The Secretary of the Treasury auuounced that "gold ooin, l>eyond the needs of the Government, had accumulated in the Treasury," and authorized the use of gold in regular Treasury expenditures. i;. What followed that resumption of specie payments ' A. Within two years JIl7,ooo,- 000 gold was sent to us from Eti rope. But surely this nold did not go into the Treasury ? A. More of it than the Treasury needed went ill. Ij. When? A. After the resumption of specie payments liy the I'nited States in lSTH, which was accepted by the world as our readoption of the gold standard. (J. Did gold llow in readily at any other period? A. It did. When did it get gold easily A. Beween 1H34, when the gold standard was adopted, aud 1801. when paper money was substituted and the gold standard abandoned. tj. But has not the Tinted Stiitei always hatl special trouble iu Kettin.n tfold for its currencjV A. It lias not. (J. Why is their situation so different from ours ? A. Because there has been no doubt of (be money standard iu Germany, France or England. Q. Is it not true that most of the new supply is "cornered" by the Rothschilds? A. There is not the slightest reason for supposing such a thing. <2. How can you prove that fact Y A. By the annual coinage statements of the leading gold-producing and gold-importing nations all of which show a steady increase. By the amount of gold in the world's great depository banks, which lias increased witli equal rapidity. These are perfectly trustworthy signs. ({. Does this $230,000,000 of new (told conie freely into circulation'/ A. It does Q. Compare this total with previous periods. A. The world's average anniial production of gold, between 1870 and 1MW, was $115,081,500; of silver $01,857,500; total $8Hi.KIM,000, or less by $13,000,000 than this year's tstimated production of gold alone. Q. What does this estimate show the world's present anual gold production to be? A. ♦•."-■O,000,000, or $17,000,000 more than in 1KI>5. (New York Evening Post.] Q. Where are the latest official figures of the world's gold production? A. In the Mint Director's estimate for 18MA, published last week, since this Catechism was heguu. Q. But if the world's gold supply has been increasing so rapidly, aud is not "cornered," why has it grown harder every year for our Government to maintain its own gold reserve? A. Because of the free silver coinage movement in this country. Q. How can that movement affect our gold reserve? A. First, by forcing so much new silver and paper money into circulation that nolMMly pays gold any longer to the Government. Second, by the threat that the freecoinage party will redeem the Government notes aud bonds in silver only, which causes holders of the notes to present them now for gold. (J. Why should such holders present their Government mill's for redemption now? A. For the same reason that made people, in the old State bank days, rush iu for redemption the notes of a bank which was likely to stop paymeut. tj. Are there uot other nations than our own whose currency requires a large gold reserve? A. There are. What nations for instance? A. Gcr many, France and Eugland. (J. Do not these countries have the same trouble with theis gold reserve as our Treasury does ? A. Not iu the least. The gold reserve in each of these three countries is larger than necessary, and is constantly increasing. A Want (» the Peasiaaer*. HILL & 60. gl, •; USM Physicians Prescriptions A specialty. No substitution, and purest drifts only compounded. Full line of DRUG/GIST'S SUNDRIES AND PATENT MEDICINES. Prices Might.  —Eli Hill, Lumber City, Pa., wiitas, "t J have been suflvring from Piles for twsoty-Cv*<a yean and thought my caae incurable. Otil Witt s Witch Haael 8sJve waa reooauMBfSlI to me m i pile cure, ao I bought a box and ft a performed a permanent cure." to MaPS one of thousands of similar laaea. finiirtgLj sorea and akin diseases yield quickly what Hrla is uaed. J. M. Barer. <1 Lindsey, Pa. JOB PRINTING The idea that waa attempted to be conveyed in the article in question waa that, labor being the creator of all values, waa the real meaanre of valaea. On thla subject Adam Smith, the gnat Scotchman, who was the founder of the eoiaaee of political economy aad the profoaad«t Tsaacaur ea economic aaInject* that the wot Id has pvtopi ever produced, says c Editor Spieit In your editorial on "The True Standard," I note some truth and also some statements that if true ate to me unintelligible, 1. e. "The real standard of value is a day's labor." It seems to me that the word value" merely expresses a relation of things offered in exchange, that the value of anything, labor included, is the power it possesses In commanding other things in return for it. If this definition is right andyou seem to admit as much when you say, "The shallowness ofjcheap'money demagogery becomes immediately apparent when it Is understood that when a sovreign uation decreases the amount of metal in ita coin, no matter what that coin may be called, it still bears the same relation In real value to other commodities as it did before, no matter what ita nominal value may be. Uow will the coinage of ailver at the ratio of IB to I cut down the value of a day's wage by nearly 50 per oent1 Is it not a met that wages are uot determined liy coinage laws? Jon. B. WV«t. Crenshaw, Pa., July 26. SKI. —We ate anxious to do a little good ia world and can think of no plsssaatsf sr tar way to do it than by racowaMttttj Minute Cough Curs as a provsativa at ■ monla, conusmption tad other MrtMjfl Bsysr.  —P— tha gsad wsad The total number of names borne on the pension lista is about 950,000, and the pension appropriation still amounts to nearly 1140,- 000.000: bat the sum will be heavily reduced as death shall shrink the ranks of the veterans. While nearly two-thirds of the pensionen an women and children, who can exercise no direct influence noon the ballot, they have all an interest that the pension fond shall not pe shriveled up by a debased and depreciated earrtacy Exery pensioner who snail vote tor the Free Silver Presidential candidats will g«=sjss£«!2i2fs; Oar trade sad commerce is not only on "a ■old basis," bat M is on "a single gold standard." To adept silver maaoaaoMism, which intifdent free coinage woe Id surely pro* daee hen ss it has everywhere elee, weald be tepemltjtsaapo tolx the prion e( oar snr- Even in oar South American trade, about which so mnch has been said, out of a total of |lt5,893,055 only 8 per cent., $8,991,853, was with silver-standard countries, while 79 per neat., $105,817,864, wss with single gold-standard reentries, and $31,485,538 waa with bimetallic countries. than 11 per cent. In declaring for the free coinage of sliver independently of all other countries the Chicago Convention in affect declared for a different and lower money standard than that used by the great commercial nations with which we trade. Trade and commerce follow the lines of least monetary resistance, and out of total merchandise imports and exports last year of $1,589,508,130 only $103,893,837 waa from single silver-standard countries—less VVVVVV C ' I v i v XXjwK .. .. U. y w i m m WM