Chicago Tribune from Chicago, Illinois • 3

THE TRIBUNE: MAY 18, 1895-SIXTEEN PAGES. On BIG SILVER, DEBATE. COPPER UP IN PRICE. IL LOUGIV ILL, LARK MADISON MS! CHICAGO. te PROF.

LAUGHLIN AND "ors HARVEY CROSS SWORDS. ADVANCE CAUSES A DISCUSSION AMONG THE USERS 01 WIRE. One of the Finest Audiences Ever Assembled Gathers at the Illinois Club to Listen to the DiscussionThe Proposition Is that the United States Should Coin Silver at a Ratio of 16 to 1 Regardless of the Action of Any Foreign Nation The Debate in Full. Continued from second vage.1 THE BEST VALUES IN CHICAGO IN AMERICA THE 13E5T VALUL -5 IN CHICAGO IN AM ERICA Last week seve To' shrewd, sharp merchants on a tour of in- Chicago's most through famous business institutions visited our establishmeni. After critically examining our merchandise and making several purchases they unhesitatingly pronounced this as their experienced opinion: "The Best Mlles in Chicagoin firnerica." We Emphasize This 4, Opinion Today By These Extraordinary Values.

Men's Clothing Men's Furnishings The immediate display of Europe's latest fads, the choice, spicy-crisp creations, combined with quality and the lowest prices, have made these departments the busiest in Chicago. 100 dozen plain white and colored border hemstitched Linen Handkerchiefs, in various hem widths. extraordinarily good value at 2 35c. Our price to close today $2.75 0Cper doz. or each 150 dozen our own make White Shirts, open back and open front.

short and long bosom 1 style, five sleeve lengths. neck sizes 141 to 100 dozen Sanitary Health Underwear, all summer, sizes ue rp, stool d6e0v eirny. w. shuei rt ea bal te 1175i goh. ofuo rr price to close today 75 dozen imported real Congo Walking Sticks, sterling silver trimmings, initials en- 1 graved FREE, regu.ar price $1.50.

Today's price. 200 dozen of our regular 50 cent N-ckwear in many instances values as high as 75 cents Tecks, Four-in-Hands, and Bowsthe 2 neckwear opportunity of the season. 0C Todav's Broken assortments, broken lots do not remain long upon our counters. Many are closed out in one day, in one hourthe power of quick selling. OVERCOATS in black diagonal, Clay worsteds, Oxford vicuna cheviots, gray diagonal, double and twist through and through worsteds, and light tan Venetian cloths, all our $15 Well-known make, reduced to this low price Silk-Lined Thibtts Silk-Lined Worsteds, Silk- Lined rocunos, Silk-Litteli Caret-Isla immense varieties.

at our alwalis lowest Priam" Blue Serge and Blue Cheviot Suits, single or double breasted, silk lined and serge lined, the largest assortments in America to select from and in a range of prices to suit every onebeginning at $27, then $25, $21, 818. $15 and we call attention to the great values at "Semi-Dress Suits, in cutaway, Prince Albert, and walking styles, are now displayed in immense varieties in our exclusive Black Goods Department, 21 floor; beginning at 850 they range in price as follows: $45, $35, 830, $27, 825, $18, $15, and a genuine English $11 Clay cutaway coat and vest at this special low The Jump In Quotations for the Last Month Amounts to $25 a Things Made of the Metal Besides Wire nave Risen Demand on the Part of Street Railway Lines Now Being Converted Into Electric Market Excited. Copper has swung into the column of advancing products. It has gone up in leaps and bounds until it has reached a figure which must be the occasion of discussion in the managing boards of street railway, telephone. and telegraph companies, for copper wire costs a ton more than it did a month ago.

Other things made of copperand the list is a long onehave risen proportionately, and authorities in the general industry are predicting that the top hasn't been touched. The advance seems to be largely based on the turn the affairs of the country have taken toward the sunshine, though various special conditions enter into the situation. The market began to harden several weeks ago, in the face of conditions which it was judged did not favor a rise. As in numerous other inchtstries, well-informed men failed at first to see what is now regarded as a change in the situation. Now an authority says the position is similar in one respect to the market conditions which followed the collapse of the great French corner of 1SS.9.

Prices then fell from about 17 cents to 11 cents, but speedily rose to 16 cents in response to a demotic' that manifested itself as soon as the incubus of the clique was removed. The demand existing today is compared with that of 'SS For the finer grades of copper it is immense. Many street railways are equipping their lines with electrical power. For the trolley they require wires composed practically of pure copper. To be exact, the specification is 98 per cent copper to insure the required degree of conductivity.

In addition to street railway requirements, telephone and telegraph companies are replacing iron wires with copper circuits, though their wants in this direction are proportionately less than the surface railways. The continually broadening uses for copper have increased greatly and the result of all this demand has been an advance of nearly $1 a day per ton since the middle of April. The total stocks in this country are said by a statistician to be not more than 35,000 tons at the outside, a considerable portion of which is locked up in works where the electrolytic process of reduction is empioyed. The consumption is figured as equalling 8,000 tons monthly, making only a little more than a four-months' supply on hand. In Europe the visible supplies are estimated at 55,000 tons, sufficient for five Months' consumption.

The London market, which is one of the leading copper markets of the world, has been excited under the conditions. There have been rumors for two or three weeks that the leading producers of the world were trying to reach an agreement to limit the production. Dispatches from London published yesterday said the American producers had declined at the last moment to enter the pool and that in consequence prices had fallen. Men in the local trade who were interrogated yesterday knew nothing of the reported pool and the fall in London prices. On the contrary they said prices were mighty stiff.

"The advance has been swift and without a check," said the manager of one of the large concerns. "I know of one street rail-. road that paid $30 a ton advance for wire. The highest grade of copper is required for street railway purposes and the demand on that account is large, and it is active in other directions, for trade has brightened. Prices are exceedingly firm and show no sign of weakening." Nien's Hats: Boys' Clothing: We display the correct shapes only thoroughness in mauufacture, in conformity, and in trimmings are studied here scientifically infallible principles with us: Our recent arrivals in Derby and Fedoras include the new pearls and the new En- S3 glish browns, with trimmings to match.

True economy in our great value Straw Headwear now ready. relative position again. If it wonid, that alone would raise its value. Now. the fact is that before 1873the facts are indisputablethe relative market value of gold and, silver so varied that they did not remain in circulation then.

I challenge any student of economic or financial history to find a case, an authenticated case. of the concurrent circulation of gold and silver under a so-called bimetallicsystem for any lengtb of time- I say that that is a fact indisputable, that it was always eitner gold in circulation or it was either shyer in circulation. I have furnished here absolute. indisputable proof from French financial documenta to show that in France itself. where they attempted to establish what was supposed to be a bimetallic system, they did not have the concurrent circulation; the silver went out; they did not keep their parity.

In 1860 ths value of a silver dollar in gold was 104.58. The gentleman then must have been living in the plutocratic regions of those petiole who always paid about $1.04 when they need only have paid $1. Or he may have been keeper of a museum where they had those things on exhibition. Laughter. itie gentleman suggests that we have been tampering with the standard.

Now. what do you mean by the standard? hy. the standard by which prices are estimated, by which transactions are made. Now, there was not any silver in circulation. there was not any gold in circulation.

The only standard we bad been tampering with was the greenback. There was no change made, for there was no gold and silver in the country. Tampering with the standard is when we try to got that metal of the most unstable kind; and right behind the gentleman is a chart representing the gyrations of silver when it really has a chance. In 1870, irrespective of commodisms or anything else. it changed its value 25 per cent.

That is a pretty standard. That is the kind of standard to tamper with. In 1890. under a stimulation connected very closely with the passage of the Sherman act of 1890, silver went up, and then it came down again like a rocket. Applause.

Silver Bobbinr, to the Bottom. Now. be spoke of my chart. over there. and suggested that silver was bobbing.

Yes, it has been bobbing and has gone to the bottom. and it is like the old story of the man in the boat. When he dropped out of the boat he swore it was the boat that had gone up. He then says we have spoiled the market because men. if they have produced goods.

cannot sell. and in the next sentence he says a man sells for what it cost him to produce, and yet he says he cannot sell. Now, what is selling except getting what it cost to produce? Then he speaks to the point of the bridge illustration. I could not expect to be understood even on a second reading. Laughter.

The bridge illustration was simply meant to show that in a time of groat panic or great excitement, when a great amount of work has got to be done in a small space. disorder sometimes rises. It is perfectly clear that with order and with a proper medium of exchange and a proper condition that would have served equally for every one it does not make any difference which of two bridges a man goes over. but if he goes on the second bridge and it is a shaky one and it bobs up and down like that he bqd better not get on it. Laughter and applause.

He also added that it was very un-American to talk about gold. Now. we produce gold as well as silver, and he asks who owns the gold. I an. swer exactly the same in regard to the matter of silver.

The bullion owners, the mine owners. own the gold bullion just as much as the silver mine owners synth silver bullion, and when you put it into the mint it does not get into your pocket and mine. I tell you there is another process entirely beyond all that. The mint does not create any unlimited demand for gold. The mint does not buy gold.

It is simply and nothing more than it merely changes its form into a round disk. and puts a stamp on it to indicate an authority that it is a certain fineness and weight. That is all the mint does. It does not create any demand for gold. and gold mine owners own their gold just as the silver mine wafts own their silver.

And if it is un-American I say, to say the truth, then I am un-American. Ile objected to my funereal illustration. Laughter. I suppose he considered that if we were not going to have free coinage of silver that was quite too funereal a thing to think of, and I haven't any doubt if you were to examine into iny illustration closely you will see a very much despised thing called a rag silver baby being carried out. Fall in Prices.

Ile lastly says that the fall in prices since 1873 has not been accounted for by me. I did not say that prices bad not fallen since 1873. because I called your attention to the movement of prices of 223 articles in coin. Since 1800 they had fallen 8 per cent, and it gives me an opportunity to call attention to something which I did not have time to before, and that is that the fall of prices began in 1805. It was at the time when prices were highest, and from 1864 and 1805 the movement was steadily down.

Now, if they are going to talk about 1873 why don't they talk about 1875? They were both under a paper money period. The high prices were in 1865. and when resumption of specie payment took place Jan. 1, 1879, prices were exactly on the same level as they were in 1860. But you start with silver in 1879 and compare its price with silver today with what prices were in 1879 after the resumption of specie payment, and you can see the differeuce and the change in the purchasing price of silver as compared with the money.

Now. what was the cause of the fall in the values of the commodities? It seems to me that before an audience of men engaged in industrial operations, men who know something about manufacturing, who know something about the way in which industrial improvements have been introduced into every factory, in every furnace, in every cotton and woolen mill in this country in the last ten or fifteen years. that the change produced in the cheaper cost of productions. in improvements and inventions in the last fifteen or twenty-five years is the striking marvel of this century. Many a man and owner of a mill I have heard say that it made him tired and fatigued to keep up in this race of improvements.

The moment that he has his mills adjusted somebody else had got something new, and he had to change his mill and his men all over again. Applause. One man in the iron industry in Pittsburg wrote to me that since 1873 he could mention no less than 500 different inventions, all united together, to change the price of production of iron. You all know how the price has gone down; how about the price of steel rails, which has gone down until steel is really no more valuable than iron was then. I need not go over this to a body of men who know the movements of commercial prices; the reduction of prices from the change of cost has been phenomenal.

It has been one of the most difficult things of my life to understand why prices have not fallen more than 8 per cent since 18643. The only possible excuse for it that I can see is the enormous production of gold. These charts directly behind you will show the enormous production of gold since t850. While before 1850 the production was about 000.000. it rises to $153.000,000 in 1853, and we have to account not merely for the annual production in any one year, but the total of gold in existence.

Up to 1853 in the 357 years from the discovery of America there were but $3.300,000.000 of gold produced; in the forty-three years from 1850 to 1893 inclusive the amount of gold produced was 000, almost double the amount of the previous 357 years. In 1893 the annual production of gold was larger than any time in the history of the world, over $155,000.000. And the directors of the mints show us that the reports of 1894 will show a still larger production of gold. Boys' Hats cause when one metal gives out and gets dearer or becomes scarce the other comes in. How can ver come in now? There is no such law authorizing it to be primary money or redemption money.

It cannot come in now. Gold has got the crack to itself. but under bimetallism. for centuries, as long as we have any statistical record of it, when one metal came in and drove the other out it was because it was cheaper by a small percentage. which drove it partially out, or for a short time.

Or it drove it substantially all out, and then came the other, but it was the very fact that either metal answered for use as money. and that if one was not enough, or if the business of the country would have its back broken by reason of insisting on one metal. there was the other to take its place, and that is what bimetallism means. Applause. Metals and Measures of Value.

Now it does not mean when one of the metals go out of circulation temporarily that it is not a measure of value. because it is a measure of value. Tide question is world-wide in the sense of commercial parity. If silver left us in 1873 because it was at 2 per cent preminm over gold at 10 to I. why was il? Because there was a market in Europe: the mines in France were open to it at the ratio of 151 to 1, and it went there and took the place of so much gold.

which came back to us, but it is not so now. Silver. when it leaves us, does not take the place of money, because silver is oemonerized. With both the metals remonetized, ono of the metals going out of use and leaving us, we have still a measure of value. because it is holding up the measure of values for the world.

It is holding up the value of wheat in Louden. where it makes them pay $1.30 for India wheat. and makes thorn pay us is1.30 for our wheat Gold and silver alternately are toe strength of bimetallism, and it is not this one or the other one used as a measure of value, when both are conjointly repudiated before the law. Applause. "No silver in circulation from 1850 to 1873." be says.

Now silver was in circulation at that time. I know it as a fact. I was a boy 10 years old in 1801, 9 years old in 1800, and I know silver was in circulation. There are instances in my life that implanted it on my mind that make me know that, and you know it if you were living at that time He says the measure of value should not be tampered with. I agree with him.

The measure of value from 1792, also during the continental days and up to 1873. was gold and silver. and it should not have been tampered with. Loud applause. You people are tampering with the measure of values.

You tampered with it in 1873, and the gold standard is an experiment. Show me, in the history of the world. where it ever existed before. except since 1873, and except since 1818, except in England only. The ages have had bimetallism at a legal ratio between god and silver.

and monometallism. the gold standard was attempted to be fastened upon the world by the simultaneous action of the financiers of the world. beginning with 1873. Applause. Ile says that silver now bobs up and down.

Of course it bobs up and down now. It did not bob up and down before 1873. Professor, take the table of ratios, comparative ratios hetween gold and silver for 200 years in the book before you and you will find they staid together for those 200 years and that silver did not bob up and down. except the slight difference of exchange in the different countries and the slight difference of the difference in ratios between France and the United States. It did not bob up and down, and that is what we want you to do.

We want you to give them equal rights before the law and then silver will not bob up and down. Of course it bobs up and down now and the monometallists are the cause of it the act of 1873 is the cause of it. Ills of the Workman and the Farmer. You say people should work and turn out property. and they will get their money.

They are working, but they can't get the money. Applause. They produce the property, and had the property costs them what they get for it: that they get what it costs them to produce. The farmer finds himself in the same fix. and that is why be can't pay hi mortgages.

Mortgages are increasing. Would they increase, as they are now, like a cloud threatening the prosperity of the country, if it were true that such industry as the American citizens can display would produce property that they could go and get money with? The trouble is, when they have produced the property, you have destroyed the price. Applause. The professor tells a good story. I have heard him tel the same story before.

Applause. Now, I want to tell a story. Laughter. It is true if there is a bridge across the stream and everybody wants to go over it at the same time, or there is a busy day such as we would like to see in this country once more. and they could not get over the bridge at the same lime, if there were two bridges, professor, they couid get over.

Laughter and applause. -Also if they should charge too much toll over one bridge we might get over the other bridge cheaper. Applause. He says silver is the yroperty of the bullion men only. Whose property is gold? This is not a question of who owns the property.

That by the experience of ages and demonstrated by wisdom and intelligence is best adapted to be coined into money. No matter who owns it, whether it is owned by the citizens of Illinois or owned by the citizens of Colorado. It is a question of wisdom and intelligence as to what property, if we are going to have property money, is best to be coined into money. and when that question is intelligently settled no special argument and no criticism can be made upon it by pointing to American citizens as owning it. Applause.

If they owned our silver in England and England had her hand in the Rocky Mountains we would not hear of who owns the silver. Applause. It is a lack of Americanism in not standing up for our own product that I object to it. when the intelligence of centuries has determined that silver is a proper metal for use as money. Applause.

He says goods are exchanged practically without money. He ought to go down to Washington and tell Mr. Cleveland how to do without money. Applause. He says business is done without the use of money.

Well, if we can drive these gold standard fellows to the position of the fiatists, why, we may reason with them. If business can be done without money, then there is no reason why we should discuss the question of redemption money at all. He says a man buys goods one day, using the money to get other property on the same day, and that it is the exchange of property. The country merchant comes to Chicago and buys goods and in the course of sixty or ninety days he pays for them, and has his goods on his shelf for a year. He must carry them with money; he must have money to pay for them.

Applause. Gets Back at the Professor. The only appropriate illustrations that the professor used were such words as hearses. brains, Such reflections are in sympathy with the position of the country. Applause.

He is not an international bimetallist. He says prices have not falien since 1873. Prof. LaughlinI didn't say that. I said that prices had not fallen since 1873 because of lack of money.

Mr. HarveyWell. that is too tough for me. Applause and laughter. He says prices have not fallen since 1873 for lack of money.

Why have they fallen? Is not property measured in money when everything else is equal. I don't think he told us why it had fallen, why property had fallen. A voiceHe did. Mr. HarveyHe points us to a map on the wall rePresenting the amount of clearances in a day going through the clearing-house.

I thought he was going on with the illustration of the map and point out the gold in the country that it all rested upon. but he didn't do so, and I don't understand the object of the illustration. But the point we make, gentlemen, is that credit money and credits all are piled up on redemption or primary money. When you run under such a standard as that it is a part of the statutory law of this country, it is regulating us with reference to our finances, and which we are reminded of. as to what that standard is.

every time we look at one of our gold notes. our gold mortgages, and when you pile up all those methods and transactions of the Nation upon a primary money. you must consider the quantity and quality of that primary money, and that is the essential question and issue that is between Jui; here tonight My fifteen minutes is up. I will finish this next time The brightest department in America, the brightest styles, the brightest selling, the greatest assortments and the squeezing down of prices, with the correct ideas of how to dress boys becomingly, have made a wonderful increase in our boys' sales this season. 500 Boys' and Youths' Suits, 14 to 19 years, placed upon our counters today, our own tailor shops, regular $15 values.

Today's price from it 10 'V 150 Boys' Washable Suits. ages 3 to 10, English Galatea cloths, French regitta 1 Cti cloths; other stores ask $3 and 114. aPtz Our price today 250 83yS. Two-Garment Double-Breasted Suits, ages 4 to 14, Scotch cheviots $4-75 mid English worsteds; reg. price $7 and $8.

For this sale 100 dozen Boys' Lamb's Wool Si 07 Sweaters, all colors, regular $2.50 i tx qualities. Today's price 100 dozen Boys' Washable Knee 2 Pants, fast colers and strongly sewed, 0Cregular 75c value. Today's price 200 Boys' Navy Cheviot Sailor Suits, ages 3 to 10, fancy braided and embroid- $3 qn ered, manufactured to sell for t' $6.50. Our special price Mail Orders Promptly Filled. Free coinage of silver at 18 to 1.

means single silver monometallism; 16 to 1 is a single silver standard and in the language of my oppouent sve will start with all the South American countries and Mexico. Applause. Free coinage of silver thee is abeolutely certain to drive ail gold out of circulatiere The mere hint of it did that in the panic of 1893. May 1. 1895.

the first of the' month there were $568.000.000 of gold in circulation. Since gold must be inevitably driven out if free coinage of silver is had there will be no increase in the quantity of money. If the people who support free coinace hope to increase the quantity of money it is perfectly evident on the face of it that it will contract the currency by the total amount of $368,000,000. Applause. It could not change Prices therefore by increasing the amount of the medium of the exchange.

That is plain. The only way it would act would be to increase the price of everything because reckoned in a cheaper medium than that of gold. This, my friend admitted this evening. If prices would rise we wouid have a glow of satisfaction. It is the kind of glow of satisfaction which comes to the inebriate after he has been supplied with drink after he had been thirsty a long while.

For example, take a pair of gloves worth 100 cents in gold; they would exchonge for about 210 cents in sever. A dozen of eggs. now selling at 15 cents. would sell for about 30 cents, and everything we buy would rise in proportion. siuce the intrinsic value of the pure dollar is worth but 51 cents.

As free coinage of silver would inevitably result in a rise of prices it would immediately re-suit in the fall of wages. Its first effect wouid be to diminish the purchase power of all our wages. The man who gets $500 or $1.000 a year as a fixed rate of wages or salary will find he can buy just half as much as now. Yes. but some one said the employer will raise his wages.

Now, will he? Now, the facts on that are clear and indisputable. It has been ono of he uudisputed facts of history that when prices rise the wages of labor are the last to advance and when prices fall the wages of labor are the first to decline. Free coinage of silver would make all the articles of the laborer's consumption cost him 100 per cent more unless he can get a rise lu his wages by that of strikes and quarrels and all the consequent dissatisfaction arising from friction between the employer and employe. He would be able to buy only half as many articles of consumption as he had before. Injury to the Laboring Classes.

In short, a rise of prices necessarily results in a diminution of the enjoyments of the laboring class until they can force the employers, through a long process of agitation. to make an increase in their wages. Are we willing to sacrifice the interests of the laboring classes to the demands of certain owners of silver mines to hoodwink the People with the cry of more money? This is a distinct and serious damage. The damage runs in other directions however; but the proposal to adopt a depreciated etaudard of value is simply an attempt to transfer from the great mass of the community who have been provident, industrious. and successful, a Portion of their savings and gains into the pockets of those who have been idle, extravagant, or unfortunate.

The provision which has been made for old age, forsickness. for death, for widows and orphans, or by insurance will be depreciated in the same ratio. No invasion of hostile armies, burning and destroying as they advance, could by any poesibility equal the desolation and ruin which would thus be forced upon the great mass of the American people. Such a desolation, however. does not fall alike upon the shrewd and unsophisticated; but it would affect 11.000.000 of persons.

The case that I have described therefore is not a limited or special one. The bonded debt of the railways in the 'United States is about $6.000,000,000. If free coinage of silver were introduced it would enable these railways to pay ott their debts with what is now equivalent to about They would thus be relieved of the necessity of paying the small investors who have taken their bonds one-half of what these corporations now owe them, and it is only a few of such corporations and railways that have outstanding indebtedness that has rila a long time and which could have been paid before the period of 1873. The Sherman act of July 4, 1890. unless it had been repealed, would have brought us to the silver standard as it was.

The mere suspicion of it struck a blow at our measure of value, brought on a panic, made prices uncertain, anl caused doubts as to future plans in every factory and shop in the land. Those who have silver mines, and who can by their wealth control political parties and Legislatures. who make the very seat of our National Government their private offices, and actually turn the National Senate into a bureau for bulling the prices of their product to those men we say. beware. Those of us who belong to the rank of plain citizens, who are thinking only of the country as a whole, who believe in the honesty and intelligence of the people, hold that when a question of right or wrong is presented in a campaign of education the people will decide for right and for justice.

Applause. We cannot believe that a special interest, led by millionaires, can go on unchecked in their plan of sacriticuag the taxpayers in order to heap up riches. especially when this is done on the most fallacious of all economics groundsgrounds which have been proved wrong by the experience of every country of modern time. How long will it take to convince every man in the land that conditions of prosperity are those in which the honest man can best meet and pay les obligations. Unless a debtor can get employment or find a market for his goods how can he pay interest or principal? Now, if tampering with the standard in the terms of which all transactions are drawn, all contracts made, all goods bought and sold, brings industrial paralysis, because no one knows what will happen ten days hence, and no one will go on making goods for a changing market, it iseto the interest of every laborer every debtor.

every honest man. is it not, to keep and maintain the value of the standard so far as that may be done. The debter will be no better off by free coinage, even if we had it, which we never will. Applause, Every lender would insert the gold clause in the contract; and on our present basis of contracts and prices, the very hint or possibility of a change to a depreciated single standard would precipitate a Panic just as it did in 1893; and when the gentleman who spoke before me charged me with being cartaM to engage in special pleadings I ask him to consider toe condition of the country today. what it is today with the great iron industries of Pennsylvania, keeping up prices since there has been a steady recovery of iudustry from the very moment when Mr.

Cleveland put his foot down, and said We should and shall maintain our standard of value inviolate." Loud applause. Is it true that, even laying aside all honor and justice, resortiree to a single silver standard depreciated 8 per cent, the debtor will sell his goods at 100 per cent more, and the more easily pay oil his debts? By no means. That is the most superficial of all views. Trickery is always sure to follow to those who resort to it. And I do not myself feel it necessary only to appeal to the selfish motives of American people.

I for one am ready to appeal to that integrity, that sense of honor, and that uprightness in the American people which. whenever it has been appealed to, has decidedly rightly upon these great questions of justice. In conclusion, gentlemen, extraordinary as is the Droposal for free coinage it is in truth only a huge deceit. It was born in the private offices of the silver king, nursed at the hands of speculators, clothed in economic error. fed on boodle.

exercised in the lobby of Congress, and as sure as there is honesty and truth in the it will die young and be buried in the same ignominious grave wherein lies the now-forgotten infant once famous as the rag baby. Applause. Free coinage is greenbackism galvanized into life. That heresy in its old form of a demand for more money has already been laid low. It will not long deceive us in its new form of a demand for more silver.

for silver fiatism, nor in any other respect is it what it presumes to be; It is not a predecessor for bimetallism. It is a wild leap in the dark for silver monometallism. Under the cry for more money are veiled the plans of a giant syndicate of mine owners and speculators. who have hoodwinked the people in certain parts of the country and who are still diluting them with a specious argument for more money. and are laughing in their sleep at a constituency so easily gulled.

Laughter. Choice, spicy styles are constantly arriving. The superior qualities, combined with the low prices, make an everchanging display with us. 100 dozen Boys' Washable Tams and Yachting Caps of Galatea and regatta cloths, 5A with detachable covers; regular price 7bc and $1. Today's 100 dozen Boys' White and Fancy Straw Hats, in various popular shaves regular price 75c and $1.00.

25c 100 dozen Navy Yachts and Tarns 5A, satin lined and fancy braided, regular kI $1.00 qualities. Today's price 1 Mail Orders Promptly Filled. SUMMER RESORTS. SIT313IER RESORTS. MANHANSET NUMBERED WITH THE DEAD.

John M. Cary. John M. Cary, one of the pioneers of Chicago, died yesterday at 1:30 p. 111.

of a complication of grip and other diseases, aggravated by the effects of a carriage accident many years ego. He was '76 years old, and had been a resident of Chicago since 1837. He was born in Hillside. N. and long before he reached manhood's years came West, going first to the lumber districts in Wisconsin and Northern Michigan.

In laterlife he went into the roofing business, which he carried on up to the time of his death. Mr. Cary had always been a prominent figure at the annual gatherings of the old settlers, and was a member of the Tippecanoe club. His funeral takes place today at 1:30 D. from the residence of his nephew, John II.

Brooks, No. 2958 Indiana OUSE AND COTTAGES. Shelter Island. L. L.

NY. Two and one-quarter boors from New York, via Long Island R. R. Open June 22 to Sept. 13.

Oreatiy enlarged and improved. Healthfully situated on magnificent ba y'. amid beautiful- scenery. N. Y.

Yacht Ctub SttiOrt- No malaria. no mosquitoes. water. dry atmosphere. Drives and groves, boating, bathing.

fishing. dancinc beautiful new must haiL electrio lights. elevator elutes with baths. eto. Send for terms and illustrated pamphlet.

Plans of rooms may be seen and engagements made by to H. D. W. LAWSON, Manager. 23 Union Square, New York City.

or to Georre S. COiMMA, who will be at the Auditorium Hotel, Chioago. May 13 to 234 2 to 6 p. m. daily.

Upon request by mall or otherwise, applicants will be called upon at their rut) A- iil I l'i-l; 1 rz 11 1 0 444W-A tire: 0 0 EN OYER VI) 5 AN 1 TA RI UM) 1 I 6 4, 7-', CHICAGO BEACH HOTEL, our transactions are performed in this way. practically without the use of money, and that under recent investigations by the Controller of the Currency ale eit 54 per cent are performed in the same way. But it wiil be said by some one this vast system of it is not emelt. it is a system of exchangebut they would say. this vast system of credit must be liquideted in actual coin or money." And so our bus.ness system rests like an inverted pyramid upon the apex of the small reserve of cone Now how true is that? If I have exPlored rightly.

and I took but a very short time to refer to that matter. it would seem to me that is just the means by which goods expressed in the term of the common measure of vaiue are exchanged against each other without the intervention of money, and by this means, which is independent of the passing of coin from band to hand. These transactions expressed in terms of money are not based upon coin, but upon goods that are bought and sold. Drawing of Cheeks and Bills. No business-man waits until checks and money have reached such a volume before he thinks the medium is sufficiently large for the needs of trade before he sells his car-load of wheat or his bushel of corn or woolen goods.

He first sells his grain and cotton and draws a check or bill afterwards. The deposit currency I have spoken of is the consequence and result of the transaetions. This system I have been describing is as broad as the transactions," it is ultimately resolved into goods and based on goods. it is not true. therefore.

that this system i have been describing is unstable like an inverted pyramid. the transactions are the reason for the existence of the checks and deposits. The checks and the deposits are not the reason for the existence of the transaction. To talk then about redemption money being scarce or being cut off by the act of 1873 is about as futile as talking about hearses being scarce, because there is not a hoarse to every man- Laughter. If people die rapidly the hearses do not stand so long in the undertaker's yard- Laughter.

If many transactions take place. the money becomes nimble and a little goes a long way. One hearse may carry many people one at a time. and so a htt le money will exchange a great many goods. But you say.

"there must be money enough to liquidate every transaction necessary." and you point to a panic. and when there is a money famine. You point to when there is a money panic, that is to say when properties and securities are thrown on the market at once to be sold to get the legal means of paying obligauons. Very true. but in ordinary times all goods are not at once offered any more tban all people are dying at once.

When a cholera epidemic comes people die and die rapider, and hearses are in exceptional demand. like money in a panic. But note this. Even if every corpse is not lucky enough to be carried in a hearse it yet can be buried some way or other. It may not be so Ftyi is but it gets there all the same.

(Laughter. It may go to its grave in a cart or an express wagon. So the goods and money. if they cannot all be exchauged in currency for coin, may yet be exchanged by other means by clearing-house certificates, or, last of all, even by barter. All goods are notoffered for exchange at once any more than a million men crossing a bridge are all on the bridge at the same time.

A million men can alt cross a bridge comfortably 100 at a time, but if they all cross at once there is a panic and some one is hurt Now. I want to suggest, in connection with the act of 1873 and with the general question, very briefly one or two facts. Prices since 1873 have not fallen because of any lack of money. and I think I have shown you on general principles there has been no reason why there should be an increasing amount of money, and I intend to show you now by facts that prices have not fallen since 1873 because of any lack in the quantity of money. Illustrates with the Chart.

I have prepared on that chart, the large one on that side, the facts showing the most extensive movement of prices the most exhaustive study of prices ever made in this country or any other. If the gentlemen can see across the room you will find that there is a straight black line crossing the middle chart, and that that represents the figure 100 or the basis from which the figures move. Now, there is a line that starts from the beginning there, in 1860, representing the movements of 223 articles quoted eolely in the American market-That line rises up as you see it. It is marked It rises up from that base line to 1865, and then it starts downward. It would be better if you could get close enough to see the color.

It moves down, and in 1879 strikes the base line again, so that the movement of prices shows that in 1879 we were exactly on the same level as to prices in the tidied States as in 'Stet). before the civil war. Then the line moves slightly above the base line. showing that prices were higher tban 1860. Then it drops a little under again to the figure just under the line.

and compared with 1860 the prices of 223 articles averaged together in the American markets showed a decrease as compared with 1860Now, let us compare with that the circulation. There is a line marked eD" across it. Soon after the civil war it moved just a little above the line, and then in 1879 the circulation of the United States advanced rapidly and moves to the right. There was a greater demand put upon the money with the increasing circulation; but I point to the chart to show you what the transactions were which you would appeal to as showing how much trade had increased. That might indicate the amount of demand put upon the circulation of the country.

That line up there in the red is the line of coloring, which I just explained to you was the amount of transactions in the United States practically without the use of money: consequently the very thing that you will refer to as indicating an increased demand upon money is the very thing widen explains just to what extent we have economized the use of money. Lastly, on that chart there is a dotted line red, which begins some distance from the beets line. That represents the value of silver compared with gold. It travels along the seventies about the same ratio 15ee to 1. Then it goes down and up.

In 1879 it was just crossing the line of circulation at It keeps on pretty steadily until. after 1885, and then it drops below the line, then rises, and now it is again down. You can just see it faintly on the lower edge of the chart, like a star in the winter just passing over the horizon. Applause. That is a significant story.

That shows the relation of silver to gold, while the line indicates the relation of all the commodities in the United States to gold. Silver's Purchasing Power Reduced. Now. I ask you whether there is any parallel showing of silver relative to gold and commodities relative to gold? The price of commodities is 8 per cent below what it was in 1860. Silver is 50 per cent below.

Isn't it perfectly clear, then. gentlemen, that silver did not have the same purchasing power in 1894 as it had in 1873? If you were to propose free coinage of sever, which means a single silver standard, and in that way to measure contracts and transactions and claim that would be true because the purchasing power of silver today is what it was in 1873. you would find there Is absolutely no correspondence. The purchasing price of silver is intinitely below the price of the purchasing power which it had in 1873. Therefore it is not today, in 1894.

a just means of paying debts. But more than that, why should there have been, any change in prices in the United States after 1873? There was no more gold in circulation than in 1873. Net May 1, 1895, there was gold in circulation in the United States $568,000,000. and of silver $524.000.000, making a total of $1,092,000.000. More redemption has been coined by the mint by $1.092,000.000.

and yet prices fall. That is due without the shadow of a doubt to any investigator to the cheapeted cost of production. Moreover, if it be associated with a fall of prices since 1873, with the demonetization of silver, I point to the fact that there is more silver in circulation in the very countries concerned today than in 1873 Germany has still 110.000.000 thalers of her old silver. and tbe five-franc pieces of France are more in circulation than in 1873, and they are all legal tender. The United States.

after the Latin Union ceaeed to coin silver in 1878. tried this experiment. and now the United States has added to the circulation of the world something over $600.000.000. That is, there is more today. in 1894, than there was in 1873.

Therefore. why of talking about the fail of prices having been due to the subtraction of the money of the world when there is more silver in circulation and more gold in circulation by hundreds of millions. Applause. Moreover it may be said that commodities had fallen because of the subtraction of silver from the circulation. In 1873 compared with eariier years the exertion of the average laborer had risen 8 per cent The laborer today commands more gold than he ever commanded in the industrial history of the world.

Applause. Not onle have wages risen ali this time. but because of this great cheapening in the cost of tile production of commodities, which has caused the falling of the prices of commodities in general, wages have risen in money, in gold, and his purchasing power has increased doubie not only has money risen but commodities have failen- The leihrer Las got double since 1873. For heaven sake let us have more of 1873 for the laborer. Allreaused This persistence in saying that the fall of prices is due to silver is like the story of the erendmother who said there was something good in everything, and the daughter said: I rattly believe you wouid say something good about the prince of evil." Well, my dear.

I am sure we must all admit he had great perseverence." Laughter. Now. as to the free coinage of silver at 16 to I let us get the record to the point; when the niers ket ratio was about 32 to 34it skipped about so much you can't be really certain- it has been 34 to le somewhere between 32 and 34 now. If the market ratio be that. and in the mint ratio you propose 16 to 1.

there is a premium of sixteen ounces of silver profit on lb eteeticaviine every 'sours est gceil in circulation Duke of Hamilton and Brandon. London, May 17.The Duke of Hamilton and Brandon has died at Algiers. agea 52. He was premier duke of Scotland. hereditary keeper of Holy Rood Palace, a deputy lieutenant for the counties or Lanark and Bute, and a magistrate for Suffolk.

He had no male issue. HARVEY S. DENISON, Manager. CHICAGO, For summer sojourn provides unequaled attractions of lawn, bathing beach, spacious poi Hungarian orchestra, high class patronage. Rapid transit to buoIncas center.

AN IDEAL INVALIDS' HOTEL. For Illustrated prospectus address' IC. Ps. rEhthzoicza. hi.

Manager. Peter It Burnett, San Francisco. May 17.Peter H. Burnett. the first Constitutional Governor of California, died this afternoon.

He was SO years old and a native of Tennessee. Ile filled various judicial offices, and served a term as Justice of the Supreme Court of California. HOTEb BELHAH, PHANTOM LAKE INN, ON PHANTOM LAKE, 11111KWANAGO. WAUKESHA WM. 88 miles from Chicago on Wisconsin Central Railway.

-SECOND SEA Tbe newest and prettiest of Wisconsin family sorts; all modern improvements; cuisine unsur passed; rooms beautiful and commodious; best of boating. fishing, and bathing; terms very reasonable. Address JOHN E. ENNIS. Lessee, letukwanago.

wia. LAKE BEULAH, rrhe rriattrists' Paradiee, Wisoonstn's most popular reaort. opens Jun. 1s1 for season of 11395. Situated in a picturesque spot on the shores of Lake Beulah, Ith miles from Chicago, on W.

C. IL R. Hotel ntted with every modern onsets-. Unice. Best fishing grounds in the State.

Boatice and bathing unsurpassed. Donkeys for the children toride. For terms and other partleulara address JOIEN PORTER, S.ake Beulah, Wig. Charles S. Dayton.

Kalamazoo, ay arias S. Dayton, President of the City National Bank of this died this morning. Mr. Dayton was born at Watertown, March 12, 1832. In politics he was a Republican.

rine OceaD Ilieuis, On Brown's Lake, Burlington, Wis. Magnolia, Mass. THE MAGNOLIA, (72 Miles from Chicago. Wis. Cent.

R. R. and C. M. St.

P. IL Groves, Cottages, Row Boat4, Steam Barges. Water Toboggans, Dancmg Hall Ladies' and tientlemen's Bowling Alley and Billiard Rooms. Bathroom in Hotel. Steam Barges to Bathing Grounds daily.

Finest Bathing Grounds in state. Fine Livery. Fine Drives. References required. Address N.

H. HENCHMAN Manager. One hour from Buston High, bold bluffs. Country pleasures- Bathing. boating.

driving. etc. No bay fever. Complete in all appointments. H.

W. Prop. Obituary Notes' C. C. Carpenter, banker of Sioux Falls, S.

died at Albin, N. Y. The Ladies' Board of Managers of the Bavtist Hospital have adopted resolutions of symvathy and respect in view of the recent death at the hospital of Mrs. Ela F. Denison.

their President. The funeral of Francis Holland took place yesterday from No. 1443 Dunning street. The Bev. P.

Krohn of Lake View Congregational Church preached MO funeral sermon. Interment was at Graceland Cemetery. The obsequies of Saizo Shimidza, the Japanese student of Garrett Biblical Institute, who died Thursday. were held at Memorial Hall, Evanston, yesterday. The Rev.

C. J. Little officiated. Interment was at Rosebill. Arthur M.

Wellington died at New York after a prolonged illness. Mr. Wellington was chief engineer of the Toledo and Canada Southern railway, Butfa'co snd Erie railroad, and Atlantic and Great Western railway. and the author of standard works on railroad location. HARVEY WINDS UP THE BIG DEBATE.

HOTEL GIFFORD, IN THE COOL NORTHLAND. FRANKLIN IIOTISE, Highgate Springs, Vt. Ovens for Its lath season under preoont on Juno 1st. Modern Consista eonnootod. Furnished and unturnisbod cottages to lot On lobs shore.

bend for booklet. JUDSON L. SCOTT. Proprietor. OCONOMOWOC LANE, On Chicago.

Milwaukee St. Paul will open May 20th. Extensively improved. sleet-rip yaws. bathing.

fishing. and tennis court. Rates 1110 and 614 per week. Children and to $10 per week. give minutes' walk from Gifford station.

Address HO Oconomowoc. Wis. SUMMER IN A COTTAGE. SIINTUIT HOUSE, ANNOUNCEMENT COTUIT, CAPE COD. MASS.

EXCELLENT BOATING. BATHING. FISHING. OPENS JUNE EITH. JAMS WZB73.

Proprietor. Spend your summer at Lake Bluff. 30 miles north el Chicago, os Cue highest bluffs ot the North Shore. Excellent a press service. Cottages tor reel tarnished.

$100 to $3u0 entire seimon. F. W. CORNISH. 97 Chicago.

HARVEY'S REJOINDER TO LAUGHLIN. Housekeepers have washed with all the soaps advertised and their woolens have continued to shrink. He Touches on Labor and Capital In the Final Speech. The Chairman said: "Mr. Harvey will now have five minutes for the close of the discussion.

Mr. HarveyProf. Laughlin refers again to the bridge story. I want to do the same thing. If one bridg9 is rickety we use the other white we put the bad one in order.

If we have only one, and that is out of order, we have to wade or swim. That is the trouble now. We have only one bridge, and the admhustration and Mr. Cleveland have hoid of one end and the Rothschilds have the other, and they have drawn our end away from us. Applause.

Prof. Laughlin refers to the purchase price of wages, etc. There is contention between the labor unions of the country and the financial and other trusts of the country, and it is a deadly struggle as we know. and one of the worst things of that struggle is the 4.000.- 000 of idle laborers in this country. In order to hold up the wages of the country it is producing idie labor.

It is better to have low wages and all have wages and all have work and something to buy than it is to have wages forced up by unions and not enough people have work to do. That is our reply to that. He tried in his first speech to scare the savings depositors. That is one of the special arguments that is made on the other side. They wiit stop scaring them when they have no depositors left, and that is what their policy will come to.

Prof. Laughlin says the debtors would not be benefited by demonetizaton of silver. but later he says the debtors are trying to benefit themselves by cheating somebody; that they are going to cheat people by adopting a silver standard. Now, we cannot follow that kind of logic. We get lost if we do.

The ChairmanThe thanks of the Illinois club are due to the gentlemen who have so kindly discussed this subject for us this evening. AUDITOIZITIAL Now Open at Brown' Lake. Burlington, Wis. The Auditorium io a New Hotel beautifully located on the banks of Brown's Lake It I. modern throughout rooms are large and pleasant and the furniture and furnishings are KU new.

On the Wisconsin Central and M. and Bt. P. Railways. Referencia Burlington, Wis.

required. NadIctireasits A SUMMAR AT SEA. OCEAN VIEW HOTEL, BLOCK ISLAND. H. Opens June 27.

Accommodate 600. Hot and cold lea water baths and all improvements- Andreae F. C. CUNDAL4 East Greenwich, R. 2111t.

A. S. GOMER, representing the hotel, may be wren at the Great Northern Rotel. Chicago. groat May 26 to June 1.

Ale OF. 10 0 .00110 I 4 WOR7i1 vema 1 FOREST HILLS HOTEL Delavan Lake, Wis. The Fountain Taatel, AND COTTAGES. HEART OF THE IVIHTE MOUNTAINS. OPEN MAY TO NOVEMBER.

SPECIAL LOW RATES AT ELM corrActz. J. W. DUDLEY Proprielor. FRANCONIA.

IL (Formerly Lake View.) The only modern Hotel at this resor t. is now open for the season. Bend for PhotographsL. G. rodbrza.

Proprietor. WOOL SOAP HOTELS. 11M'WHEN IN NEW YORK STOP AT THE WESTMINSTER, ilTH-ST. AND IRVING ri.Acz. DI STRONG'S SANITARIUM SARATOGA SPRINGS.

N. Y. A popular resort for health. change. rest.

or recrea tion all the year. Elevator. electric bells. steam. tun-parlor.

and promenade on the roof. Suites of rooms with baths. Drv. tonic air: Saratoga waters; lawn tennis. croquet.

etc. Massage. electricity. all baths and all health appliance's. New Turkish and Russian baths.

Send for illustrated circular. PROF. LAUGHLIN ENTERS DENIALS Says "Coin" Argued from Statements That He Did Not Utter. The Chairman then said: "Prof. Laughlin will now have fifteen minutes." The professor at once got to the pith of the question, saymg: The gentleman stated to you that I spoke with regard to me figures of exports and imports from 185i) down to tile present time.

as a test of the fact that we had a certain amount of trade at home. I made no such statement whatever. I may have misunderstood the gentleman. 1 gave the figures for the total exports and imports combined in the year 1872 as $1.165,000.000 and in 1894 as $1.547,000.000, because the gentleman bad stated that there had been a greater trade with Europe in the time when gold and sliver had free coinage, andI used the year 1872 to show that there was a certain amount of trade, $1,164.000.000. and that today we had a greeter trads and that we do not have free coinage of silver.

Now, be also said that I showed a chart to explain to you that we paid all our international balances in money. 1 did no such thing. I gave a total area. indicating the total value of exports and imports in the United States from 1850 down. and gave on the same chartthis is the one holding up chartshowing in another square, down hero.

a reditively small amount of money that had traveled back and forth. both gold and silverwhether it was as merchandise or as gold made no differencein order to settle transactions. Then the gentleman referred to a most extraordinary proposition, which struck me at the time as so inconceivable that I thought I must be mistaken. It was in To gard to the act of 1878. Now, it happens that I was brought up in a lawyers office, and breathed in a lot of the old common law, and when he makes this statement that there never had existed anywhere in previous history any such statement as that a citizen of the United States was affected by such a statement as this in law, "except where otherwise expressly stipulated in the contract," "that citizens in the United States were not permitted to make a contract of any kind for the delivery of a specific kind of am amazed.

1 suppose it is one of the common law fundamentals, as old as any legal history. The statement. themfore. that a statement like that. recognizing the common law of the country appeared in trio act of 1873 merely-as an expression, and never had been heard before, is the most extraordinary exhibition of ignorance of the fundamental principle of law as we understand it in this Anglo-Saxon age.

Now. he made the statement in rebuttal 'concerning sornethmg1 stated that the law of 1873 prevented SaVer from coming in gad gaining its EDUCATIONAL. Bearing of Exports on the Question of Values Of Money. The ChalamanMr. Harvey will not be allowed 15 minutes in rejoinder.

Mr. Harvey spoke as follows: Mr. Chairman, I have 15 minutes, and I will be brief. I will try to cover ail the ground that Prof. Laughlin has gone over.

He says exports in 1872 were eleven hundred million. in 1894 fifteen hundred million, as an argument that before gold and silver came back we were running on paper money. I would say that the population has increased faster than the increase as shown by those figures. Applause. lie says both the gold and silver exports and imports during the years from 1860 to 1870 were paid for in gold and silver as an evidence that gold and silver were international money.

Now. we did not have gold and silver as money then, and yet it was used in the settlement of balances, but as what? Not as money, but as merchandise, and it is so used todaynot as coined money, but as merchandise. We had paper for money, and they had gold and silver, and yet it was used as merchandise then as it is used now. And if all the gold and silver went out of circulation with us and we had silver or paper temporarily, we could buy the gold merchandise now as we did Wen. and as we lid all the time.

Applause. He says the clause in the Bland.A1 ison act that stipulates that silver is legal tender money except where otherwise provided in the contract is just and proper. Now, gentlemen, that clause meant this. except where otherwise provided in the contract we will provide for gold. ow, you silver men shoot your guns.

You silver men can pass any law you want. We have got you sewed up in contract which you called directly for gold. Never before in the history of the nowhere in the records of the United States can Sou find where we enacted any law authorizing a creditor to take a note. between our legal tender money. I Applause.

It is statutory treason to disrupt and discredit our money. and a statute which permits itwhich was the artis the first of the kind in the statutes of the United States, and it did just what it was intended to dofasten a gold standard by putting it in the contract. Such a thing never was Sone before. and is unjust. if monometallism is unjust.

He seys silver drove out goid in France- Silver also drove out gold in this country. he says, for the first fifty years of the century. and then gold drove out silver. Now. that is just what we want the business men of enirago to understand.

That is bimetallismbimetallism which makes either gold or silver money primary money. be. VICTORY FOR, SOUND MONEY SIDE. I. the only one which is guaranteed not ta shrink underwear and woolen goods.

Beware of Others. For Sale By all Dealers. Manufactured only by HAWORTH SCHODDE. CHICAGO. Gannett School Again.

NARRAGANsErr PIER. THE ATWOOD. Situated on the oeean front commandinic the fin-eat views and strictly first class; eievator: 200 guests. Opens June 20. Five minutes' walk from depot and three minutes' walk from Casino and Beach.

J. A. TUCKER. Proprietor. All students, irraduates or non-graduates.

of tam Georgia tSannett's School at Pemberton Square or Cheater Square. Boston. Interested forming en A111111211. Amootation. are requit.ted to be Present at a meeting to be head for that purpose May b7.

4 at Hotel Vendome. Boston. Mass. Any one WV. Was to but interested, may gond a letter with address on that date to MILS.

RICKARD C. MUMPHRZYS Hotel Vendome. RIM Rail Vigor MIR Kirk's Soft Wain' Maker, AIETATOXET ITO-0SENARRAGLNaErr PIER. R. Twnty-ninth season opens June 1.

Superior location. modern .00 guests. Lake Forest Defeats University of Chicago In a Debate. The first annual debate between the Lake Forest 'University and the University of Chicago, held last night in Kent Chemical Laboratory, University of Chicago, was won by the former, 1,110 points to 1,100.. The judges-were Judge H.

V. Freeman, Judge Orrin Nt Carter, and Dr. Sarah Hackett Stevenson. Ex-Gov. John Al.

Hamilton presided. The discussion was lively and at times acrimonious. The question was insinuated about the free coinage of silver in the United States at the ratio of la to 1. The South Side collegians affirmed and lost. For Chicago the speakers were L.

Brent Vaughan, Julius Kamen, and J. N. Hughes. The sound money advocates were C. G.

Smith, A. D. Coulter, and J. Al. Eakins.

C. G. Smith and L. Brent Vaughan answered in rebuttal. qwyopx.

Noir York. Miss Peebles and Miss Thompson's Boarding and Day School tor Girls. 30. 32. and 34 Nan 1171k Striart, Bimetal 1kudoata dmottd.

NARRAGANSETT PIER. It. L. The Continental. Fronts the Ocean.

Near depot. beach. end eselno. first-eituts. 200 guests.

Opens Jetts SO. GILEEKT JOHNSON. Miraculously changes the hardest 'waters to a soft and velvety consistency. Made only by JATIES S. KIRK et U.

S. A. UNIVERSITY OP VIRGINIA. SUMMER LAW LAOTUR 8 (twelve, wrote). Berta June.

mitts, sad rod 29th August. For ciroular apply (P. 0, University of Charlottesville, Va.) to AALEIOB C. MINOR. Inairoctor in Low.

Or to JOHN B. MINOR. Prof. Corn. end Stat.

Law. THE THOUSAND ISLAND HOUSE Opens June Idtb. Engarement for rooms oan utile be mad. by applying to Motet Brunatries, N. Y.

J. B. WitiTaR, Manager. CHI IF I ONLY HAD CT. iORICS SCROOL.

MANLIUS. N. Y. LI Summer Sekool tor Bays for Stud" or Recreation. Zreurricia en ScOooleate Lake Ontario sad the Titoumand Wands.

Excureton en So itoalsiup along Stiantie cosot. Apply Col. Was- orbools. Prosadomb, MRS NINIPAPHICMIM MARBLZEICAD, MASS-A- Finest noun oeenry en Il blaseachunonsnoant. Sor closeriptaaa addrose at W.

te etiZt Her Complexion! Why it is easily obtained. Use Pozzonra Complexion Powder. A.M1 BILOWN. Good posidons secured by' students of Bryant tt trattou'e busloads College, o. 815 Wabeeti..