Punxsutawney Spirit, 1896-07-29

              m ist THE POWER OP WEALTH. Mark ton Doing*. 'VOL. XXXV. ■ ■■■KM* A|\ IS rx» fMMMMIHlllftMI»lftOOOOOOOOffOOOOOOOOOqqgOg! WET 0I\ Dlu Makes no Difference to Us. For instance the 2.50 kind will go fur 1.25, and t>o oil throng tlif whole line. Adrian. ✓ -e *** WAY WILL " ! '• Vt ■" fj£ pSSMIdl«g 0$wtf PUNXSUTAWNEY, PA., WEDNESDAY, JULY 2!>, 1896. E<|ual Opport unit lea for Individual Exertion Pound Only in New Countries. Men's shoes no. aj* 6LEflRftN6E SALE I We have made the following reduction* on our complete stock of Ox ford h. FALL DRESS GOODS Our bargains are like the celebrated 'possum trap that would catch the varmints "Coinin' ora-goinV Being always as bright and fresh as a July or an Angust morning, our stock is ever rich in novelties and abundant in staples. To buy without seeing our aggregation is to deplete your purse without consulting your judgment. That, in times like these, is almost criminal, for we are just beginning to open our new 75c kind now 55c. l.OO kind now 75c. 1.25 kind now I.OO. 1.50 kind now 1.25. &.00 kind now 1.50. We mean to elose out every pair of men's shoes we have on hand, Therefore have eut prices right in two. Dark print*, Ic yard. Ked prints, 5c yard. i> I Brown muslin t t c. Alabama -liirtinjj- 4c. B. Cunningham 6c Son. Friday the people of this place were startled by seeing a liorseeart ami man coming along our streets hack end first and against the fence. On closer investigation it was found that (Jeorge \V. Aber, Jr.. had purchased a driving horse and the animal became obstreperous and kicked O. W. out of the cart, out he being a good Christian said nothing, but returned the horse where he got it. Shields Cochran comes out openly for Bryan. He says he don't think free coinage will effect him one way or the other, and (hat Bryan seeuis to be a nice young man. Joseph Burkett and sous who were picking huckleberries at Boone's Mt. last week returned home with eight gallon and the rattles of snakes' tails as trophies. Our neighbor women are all picking berries now, and the men folks have a hard time to keep them home loug enough to get their meals. The only thing this towu needs yet to make it equal to Punxsutawney, is a blacksmith shop and a steaiu laundry. Children's exercises at Coolspring were well attended Sunday evening and the exercises were good. The last spell of wet weather caught most of our farmers with half of their hay crop down. HIS "SAIL.INC3, SAIL.INQ" YOU The Shorter Catechism HILL & 60. JOHN B. SEE THEM GO! BAIR. HORATIO. If beer could In* kept out of this place there would be fewer "circuses." (Jeorge Morgan, au old resident of this place, was buried Sunday, July ;Mth, Revs. Prampton and Coulter otliciating. The funeral services were held at the church at ~ p. m. and were largely attended. Burial at Anita. The faction that has been disturbing the peace of the Protestant church here for so long has given up the ghost, and there is now peace within her walls. Long may it continue.James Penman's were taken to their home at Elk Run instead of to the ll<»spital us tlrst reported. Miss l)oran, of the Hospital, returned this week from au outing at Chautauqua. Some detectives were out near town Sunday last after card players with some good results. A light or two occurred also among some Polauders. Altogether a pretty fair circus at home. a Nice Mining Village. Iiocal and IVrmmnl Npwk Item* From A Comparison Hill & Co s Thin coats and Tests. White dugk vests. Summer Goods ON-ALL REDUCTION SPECIAL SALE Postal Savings Hanks. O. What is meant by "a silver basis?" A. That the notes issued are redeemable in silver; that silver is the money of final redemption. g. What is itspraetioal effect A. To drive gold out of circulation and out of use as monev, either as currency or as reserve for redemption, as it is now used by our banks and by Government. o. Is this a universal result ? A. It is. There is not a silver standard country in the world in which gold circulates or is used as money. The more valuable money is always hoarded or sold in speculation as a commodity. (J. Would not the adoption of free silver coinage prove a measure of contraction, giving us less money than we have now' A. It would. More than I500,ooo.ooo, in §old coin and certificates would be inimdeiately driven out of circulation or use as money. It would tax the silver-minting capacity for ten years to make good this deficiency. (J. Is this true of all silver-standard countries? A. It is true of each and all. There is not one in which business is not speculation, because there is no fixed standard of value. (J. What is the result: A. That the finances are disordered. There is no securitv for business. There is no fixed standard of value. The < yen dollar is worth 5;, cents in gold one day and 51 the next, as the price of silver fluctuates in the market, exactly as our greenbacks fluctuated. o. Does not Japan coin free' A. No. The mint closed some years ago. It coins subsidiary silver on Government account, as all mints do. The currency is Bank of Japan notes, jf i^vjaxxv**», redeemable in full legal-tender silver coin. These notes correspond to our greenbacks of 186s, except that they do not go below 50 per cent, discount. (J. Does not Mexico coin all silver brought to her mints' A. Yes; but she charges $4.41 for each 100 coins, and the coinage is at 16.51 1 so that she recoins European silver at a cost to the holder of about 10 per cent., and American silver at a cost of 7 per cent. O. Does not India free coin silver A No. The mint was closed three years i-m. IJ. What silver standard countries have free coinage? A. Not one. There is not in all the world a mint open to free coinage of silver at any ratio. I New York World | The one class of our people who should be at the forefront of the battle for honest money is the class commonly denominated as workingtnen. There is not a man who lives by the wages he commands for his daily lalx>r, who would not be the greatest of all sufferers by the degradation of our money to the standard of the free silver countries of the world. The most prosperous free silver country is Mexico, and the wages paid for lat»or there are less than the wages paid in the gold standard country that pass the cheapest wages of any of the civilized governments. means, while the class that would suffer most would be those whose capital is entirely in their lal»or. Wherever the silver standard is accepted, lal>or is paid less waves than in the poorest of the gold standard countries. As compared with this country, the average wages paid labor in Mexico is not one-fourth what is paid in the t'nited States. The nominal wages in Mexico are not one-half as high as the average in the I' 11 ited States, and Mexican wages are paid in silver dollars that would purchase just half as much as the American dollar as long as the government maintains silver etj.ial to gold. - t -  learly one-half, and unless farm labor shall be cheapened fanners cannot prosper in in Iowa.—Philadelphia Times. Kx-Goveritor Iloies, of Iowa, one of the farmers in the State, defined the silver theory with appalling frankness. Ife gave two reasons for tlu* free coinage of silver and the acccptance of the silver standard. The first was to enable the fanners lo gnj;««>*» oti the rtc .... . . -* tf vouM cl.ea),e!V"W^-'l,.'.Vi! r«C »'***•*"• The acceptance of the silver standard in this country, that must inevitably follow the free and unlimited coinage of silver, would reduce the purchasing value of our money just one-half, and unless the wages of labor were fully doubled, the workingmen of the country would not receive the same compensation their labor now demands. I11 no country that has gone from the gold to the silver standard lias labor ever increased in value as much as 50 per cent., while the actual cost of all the necessaries of life is increased from one to per cent., and this country would not Ik* aif exception to the rule. The workingmen would l>e compelled to pay j-2 for the necessaries of life which they can now buy for $1. Their wages would be little increased, and 110 free silver employer would dream of increasing the nominal wages of labor under the cheap mone> system as much as 50 per cent. Punxsutawney, H. J. L»oeb, ST. ELflO STORE. Pa. BI6U6I6 NEGLIGEE STRAW HATS. Suits. Shoes. SHIRTS. ALPACA COATS. Cut prices on all Russet GAUZE UNDERWEAR Co-la Kirau llerree Silver. A Demorest gold medal contest will take place in the Congregational church next Monday eveuing. Great preparations have been made, and we expect a very interesting meeting. This will be the second gold medal contest in this place, lairing the meeting the Glee Club will give some selections. The Y. P. 8. C. E. meetiugs arc better at.tended at present than they have been for some time. Still it ought to be patrouized tetter. There are plenty of young people connected with the three churches to make a strong and powerful society in the place. Rev. Thoiuas was taken very sick Sunday while preaching at Lindsey. He is able to be around again, however. The teachers of our day school for the coming term are Messrs. Wining, North and Miss May Davis and Mrs. Bowdish. Miss May Davis intends to go on a visit to llrookfleld, Ohio, this week. The James brothers attended the funeral of Mr. Morgau, of Adrian, Sunday. T T. Ho wells is on the sick list with the rheumatism. Messrs. Berwiud, Crist and Fisher of the Bcrwind-White Coal Company, were here on business last week. Several of our young people .joined the iiupti*t Sunday schools of this place and Lindsey in their excursion to Mariposa Park last Wednesday. Although the rain poured down just at the start, they were not discouraged, as they had anticipated a good time when they reached there, that made up for the little wetting. From the reports heard, and the bright faces they wore on their return, one would conclude that they enjoyed themselves. M r«. Owen Kolaud.s, o f Liudsey, visit <\ Mr. and Mrs. Thos. B. Morgan on Sunday. Mines worked two days last week, John Richards, Jr., returned Thursday from the temperance convention held at Reading, Pa. Ho represented the (lood Templars lodge of this place. l.OO. 1.00. The Best. Curtice Bros fine canned goods 11 lbs loose lard, lO lb can leaf lard, 6 lbs raising, ,4 lbs California poaches, 1 -can best Oregon salmon, Same in gunpowder, regular 50c grade, 25c. 35c. 10c. 35c. «5c. 11 lbs rolled oats, 589 lbs good rice, l.OO, 8 lb pail lake herring, - 211c. 10 lbs No. 1, best mackerel, 1.00. 1 lb first class Eng. B. tea, 25c. Regular everyday prices with some of the noted "clearance sale" prices will convince you that Hill <& Co. are the people's f rieii'ls all the year round. This sale has been going on all summer and will continue indefinitely. The moral is: "Read the prices and visit the store : C. R. Nal, Wataga, MiMoutl, July 1, W. J. Lemmon Mogle, Punz'y, June 1, 'ft. J. O. North, Punx'y, July 1, '97. Claade Smith, Eleanor., (new), Jan. IS, '07. C. C. Bonner, Flora, Aug. 1, 'VI. J ax. Ooon, Eleanora, (now), Auk. 1, '97. Mr*. Margaret Auokerman, Corter, Jan. 10,'97. Bruce Brim., Big Run, Feb. 15, '91. D. J. Baxter, Flora, Aug. 1, '97. B. 8. Craig, Fum'y, April 1, '91. Johu Quinltek, Llndaey, June 1, '91. Campbell A Llringood, Punx'y, Jan. 1, '91. John Hendrtckl, Allegheny, Pa., (new). Mr.. Elisabeth Blow, Marc hand, April IS, '91. Peter Stockdale, Punx'y, Jan. 1, '97. JoMph Dowdell, Horatio, (newt, Aug. 1, '*>7. Mile. HeiUcnrater, Punx'y, June 1, 97. The following penona have paid their Mb•criptiona or added their ailaretoour liauinoa laat week: People Who Pay the Printer. If the recommendations of Mr. Wanamaker, made when he was Postmaster General, had l>een adopted, and if there were now a postal savings bank in every county and in every considerable town throughout the country, endowed w-ith two requisites for a savings institution— convenience of access and absolute security—the silver craze would l>e impossible, and the man who proposed to the mechanics anil laborers, and their wives, that the hundred dollars which they had with painful frugality laid by and lodged in the Postal Savings Bank should represent only one-half the amount which tney had deposited, would be shut up as a dangerous lunatic or the women would drive him out of town with their broomsticks.One of the strongest arguments in favor of the Postal Savings Hank is that it fives even- depositor a stake in the staility and welfare of the country and makes bin, from interest as well as principle, an advocate of honest money, of a dollar being worth a dollar. It is not necessary that the Government should pay high interest, i or 2)4 per cent, is enough. The margin between this amount and what the money would be worth to the Government, either if loaned on good security or if invested in the Government's own bonds, would more than pay the expense* of management. Of course, the large savings banks are well enough as far as they go; but they do not reach the newly settled and sparsely peopled regions, and they are not clothed with absolute security, a security as great as that of the United States itself. We cordially wish that Congress at its next session would carry out the wise, beneficent, truly conservative scheme ol the Postal Savings Bank.—Phil'a Press. Lakar Nut Have Stand Maatv. HILL & 60. Hons I* - '§&rices Migbt A specialty. No substitution, jutd purest drugs only compounded. Full line of DRUGGIST'S SUNDRIES AND PA TENT MEDICINES. 1. In tlie meantime, until a new money system be established in the republic, the minting of national silver money is prohibited. 2. There are declared out of legal course in this country all foreign silver coins, irrespective of what weight or alky they may lie. 3. All foreign silver coins in actual circulation have to be presented to the general adminiatrationa of revenues during the thirty days following the date of this decree in order to exchange them into national money in conformity with the legal value under which they are drcnlftting. After this period all coins which might be presented for exchange will b* considered as being comprised in the contents of the proceeding article. 4. After Uie date of to-day the pabHc administration of revenues will aMtejh from receiving foreign silver money hi , payment of duties or tor any otter pay* J ment to the public titaaui/. - 5. During the thirty days fixed toiM tide 3, the introduction offoreiga WMll money into the rapubUe bmkMMl gnd all ooina which rr—. ..-r, "The Constitutional Congress of the Republic of Costa Rica considering it convenient for the economical interest of the country to avoid as much as possible the augmentation of silver coins, which for reason of its demerits and constant fluctuations constitute a circulating medium ol uncertain value, and which also would mnke it difficult, in case of its introduction into the republic and establIilnBtttf by legal course, to adopt other money at better conditions and to establish a new monetary system on a solid basis, the initiative and the executive power decrees:The Republic of Costa Rica, which, until very recently, was on a silver basis, has addopted the gold standard, anil has issued the following decree: Lindsey, Pa. JOB PRINTING The millionaires, bankers, speculators and gamblers in values can adjust themselves to new oonditions with much greater ease and less sacrifice than any other of our industrial classes. A change from aa honest to a degraded money system would be a calamity to all conditions of the American people, bat the men who can beat protect themselves are the men who poaaaa capital. TlMy may lose by the reduction of valuae, bat they willloee I much torn thaa the people MMte.te —Mr. Bailey Barman, postmaster at Gilpin post office, Rayne township, was struck by lightning and seriously mured on Mouday evening. He and a young man named Smith were going from the former's barn to the house, and when Mr. H. was in the gate-way a bolt of lightning decended and struck him on the right arm, running down it and his right leg to the ground. He was rendered Insensible by the shock and was carried to the house, and at last accounts was yet unable to Isave Ms bed. One of the gate posts was shattered by the belt—Marion Independent. UM MK onlcra (or Job Printing at thk mMb, Mm ' vorit at saawwte ;' jgr.£, ..... ■ »,,, v But ss oar correspondent seems to belong to that school of economists who believe that all property should lie held in common, and does not believe us competent to answer his questions, farther discussion is use. less. If he really desires i n formation on these subjects he eaa get It In a much more satUlkcphlets aad advocates of isms and theories, Mt from thoss philosophic minds whose sole desire was te diseever the truth. v • Unless, then, we should return to our primitive state, when pebbles, bark and shells were used as currency, and the laws of property were unknown, we canuot reach the ideal state in which the opportunities of all men are equal. As to possess wealth is to have power to command the good things of life, that kind of money which ia the safeat depository of wealth, whether it be cold, silver, oopper or anything else, will still be concontiolled by men according to the degree of their possions. It is hard to see, therefore, now the debasement of the currency by attempting to put a fictitious price into silver coin, knowing that prices are fixed wholly by competition, could benefit the laboring man. But it ia easy to see how it would be of incalculable injury to him, as an upsetting of values by the introduction of a fluctuating currency always retards development and enterprise of all kinds, the carrying on of which creates a demand for labor and insures better wages. It is true that many men, in their eagerness to obtain wealth, will resort to unfair and dishonest methods, but that is wholly a moral problem and without the domain of political economy. Modem political economists, who wish to he exact and avoid confusion of terms, use the word ''price" jus a synonym for value. The most valuable things we have, as sunlight and air. are obtained without labor, and therefore have no price, although they have great value. The true value of any commodity is a just return, iu exchange for other commodities, of the labor and capital invested, or, we might say labor only, for capital is accumulated labor. In countries where men have succeeded iu getting possession of large amounts of capita I, such men have an immense advantage over those who have not. and will, to that extent. be able to "control and monopoli/.c the source of supply." But in au absolutely new country, conditions would be et|Ual, aud the man who could wash out tha most gold in a day, or, by bis iudustry. skill and management become possessed of the most objects of desire, would be always the most powerful. Wages then would be regulated not by competition or sentiment of justice, but by the actual amount of value a man could create iu a day by his own industry. But in a developed country the man whose sole capital is his own health, strength aud skill, is not on equal terms of advantage with the man who has accumulated the products of the health, streugth, skill and iudustry of many men. And indeed, to have it otherwise, it would lie necessary to abolish the laws of property, in which case there would be uo incentive to industry, and men would live either off the spontaneous fruits of the earth, as the wild animals, or by rapine aud robbery, as the savages. Wo begin to suspect that our correspondent wishes rather to impart than to obtain iuformation on this subject, and that he is an advocate of a theory rather than a seeker after truth. Crenshaw, Pa., July 27, 18»J7, This is no clearer than the former state in cut. Labor produces (creates) wealth. Value attaches to the prtMlucts of labor, and also to some thing* that are not mnde by labor. I must hold that value i* merely a relative term: that the value of anythiug is the power it has in commanding other things in return for its use. This power is not due solely to the amouut of labor expended in making the one particular thing oit'ered iu exchauge, but also to the relative cost of producing the thing or things for which it is exchauged. I would change Adam Smith's statement so as to make it read: "Gold and silver, however, , like every other commodity, vary in their value. The quantity of lal>or which any given quantity of them ran purchase or command or the quantity of other goods for which it will exchange depends always upon the fertility or barrenness of the mines, and otner natural resources which happen to lie known," also "free to use of labor and capital at the time such exchauges are made." I'nder sueh conditions I, as a laborer, would not sell my lal>or for a less return than 1 could make by using the mout productive mine to which free access could be obtained, and in exchanging my product for wealth in another form 1 would give uo more of it than would equal the labor I would have to expend iu producing it myself in the form and place in which I was exchanging it. I'nder sueh condition whether gold or silver l>e used as the measure of value it would not cut my wages, for if the new nioucy would not exchange for as much wealth as the old I would demand and get more of it; so if the free coinage of silver lessens wagi's at this time it is not because of the coinage law but of conditions that el lows a few to control and uionoimlize t he source of production to such an extent that they eau say just how much and what kind of wealth shall be produced. In laying that "equal quantities of labor at all times and places may be said to be of equal value to the laborer," Adam Smith was certainly not thinking of its purchasing power or exchauge value, for it is obvious that the value of labor or anything in exchange is only the wealth or goods that can bo gotteu for it. I'nder conditions of equal freedom, which are supposed by Smith, labor would command as wages goods or money equal to the value of th«i product of the labor for which they were naid and would take no less, for the return to labor < wages) would then be llxed by its abilty to produce wealth from the natural resources "which happened to be known at the time such exchanges are made." Aud while "equal quantities of labor" ( measured in time or intensity would not l»e of equal value to the laborer, yet equal ability would always command a like return, no matter what standard it was measured by. True, such conditions do not now exist, but they should, and if the "gold standard" and people that support it are not responsible for existing • onditious they fail to see the injustice of them. At least they constantly oppose everything that teuds to reform them. Jos. B. Wv-k. BEiutok Spirit:—1'iu not yet convinced at "the real staudard of value is a day's labor." You say: "The idea that was attempted to bo couveyed iu the article in question was, that labor being the creator of all values, was the real measure of all values.'' —Vow and then, by careltal attention, one j mil hiss ""d"!111 ■ '"Tir p nt' ~ •^r m