The Galveston Daily News. (Galveston, Tex.), Vol. 55, No. 166, Ed. 1 Sunday, September 6, 1896 Page: 9 of 24
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Pages 9 to 24.
SECOND PART.
7
TWENTY-FOUR PAGES. I
A. A**
JEFFERSON'S LEGACY
[THE UNIVERSITY OP VIRGINIA THE
PIONEER UNIVERSITY OF
AMERICA.
IMPROVES WITH IT'S AGE.
Recent 1'roKrran of the Iuntttatlou,
New Chairs, New KellowNhipN, ftew
Equipments and Sew BaUdlngs.
For The News. '
Richmond, Va„ Sept. 3,-The university
of Virginia is the intellectual offspring of
the genius and matured wisdom of a man
who has left impressions on American in-
stitutions more marked, more lasting and
more cherished, perhaps, than those of any
other one-Individual, and no other institu-
tion of higher education in America is so
unique in its history or its character as
the university of Virginia; no other has
% fato#it flaily J
55TH YEAR-NO. 166.
change of methods and by prizes gener-
ously offered by some of the leading pub-
lishers of the country.
In the department of medicine there have
been noteworthy advances during the last
few years. Especially valuable has been
the growth of laboratory work in connec-
tion with medical biology, histology and
bacteriology, with pathology, and with
some of the studies included in the pro-
fessorship of practice of medicine and oln
stetrlcs, and also the development of the
clinical facilities afforded by the univer-
sity dispensary, at which more than 3000
Pat ents are now treated annually.
The extension of the time for the med-
ical course to a minimum of three years
(i. e., three sessions of nine months each),
going Into operation with the beginning of
the next session, will enable the student to
avail himself of these improvements with
less strain and greater advantages than
heretofore.
ATHLETICS.
The growing interest in physical culture
is shown by the fact that ten years ago
not ovw fifty students exercised system-
atically; now 90 per cent take some form
or other of athletic training. The successes
of the ball teams have contributed much
to this interest. In eight years in ninety
games with southern colleges they have
been defeated only three times. Besides
two athletic parks, the university has a
new gymnasium, the finest college gymna-
sium in America outside of New England.
THE NEW CHAIRMAN.
Dr. P. B. Barringer, professor of physi-
ology in the university, the newly elected
chairman of the faculty, is 39 years of age
a North Carolinian by birth and a son of
Galveston, texas, sunday, September 6, i89Q.
ESTABLISHED 1842
WEAVER.
hf«a.t»r^1|?,r^et whlch U would cm>te for
airaiL? ,™8; u rfversai 0l" tlie crime
against cow money is now called for.
EDWARD ATKINSON.
A Responsible Citizen of Mt. Vernon, III., Makes Affidavit That
Bryan Said in a Speech That He Voted For the
Populist Nominee for President in 1892.
[Louisville Courier Journal.]
i8o6^dcclarMUh^^ >1' 'LL>' Auf>'2®- (Special.) The statement that W. J. Bryan, in a speech at this place on the 17th day of March
1896, declared that he was not a Democrat, has been given some circulation in the newspapers. It has never been denied, but many have
doubted it, because no proof has ever been offered. The following affidavit is from a well-known
and thoroughly reliable.
citizen of this place, a retired farmer
DR. P. B. BARRINGER.
exerted so profound an influence on south-
ern higher education, and lew realize how
great has been Its Influence also on the
colleges and universities at the north.
Though on a scale limited by the means
then obtainable, it was the first real uni-
versity to be founded in America, for at the
time of its foundation. Harvard and Yale
and Princeton and Columbia were element-
ary colleges.
As in the German universities, the cen-
tral force lies in the faculty considered as
a body of lecturers on subjects in which
they are specialists. The teaching is con-
ducted almost wholly by the professors,
and not relegated to tutors. For students
from oilier states than Virginia there are
110 entrance examinations, and there is no
academic "curriculum." Each subject has
an independent school, and the diplomas of
these are given upon written examinations,
the standards of which are such that these
diplomas are mure highly prized by manv
than the so-cal' d "titled" degrees. An il-
lustration of this is tile fact that at (ho
last finals only five received the titled
degree of master of arts, although during
the past year eighty-two students were
pursuing advanced—I. e., M. A. and Ph. L>
—courses, and at the last finals eightv-one
diplomas of graduation in the advanced
course of the academic schools were
awarded.
EXPANSION AND PROGRESS.
In recent years especially there has been
a rapid expansion in nearly every depart-
ment of tlis university. Only a few years
<igo lectures 011 historical science (includ-
ing political economy), and on modern lan-
guages were given by two professors only
where now there arc live; three schools
take the place ot the single .school of nat-
ural philosophy; In law there are, now
three professors where formerly there were
two, and in medicine the instruction has
been almost doubled.
The university of Virginia has always
famed for the thoroughness of its
been
theoretical instruction, hut of late there
has also been a marked growth in labora-
tory and other facilities for practical in-
struction. The new biological laboratory
safely outranks any other in the south, and
the McCormlck observatory contains the
largest telescope located at any university
in America. The technological museum Is
also unrivaled in this country and is kept
up to date by continual additions.
An Important step taken for the encour-
agement of graduate work is the provision
made at the last meeting of the board of
visitors for fellowships to be given to
young men pursuing advanced studies
leading to the degree of doctor of philoso-
phy. In addition lo the John Y. Mason fel-
lowship, which for the present is attached
to the school of history, there will here-
after be five new ones, three in astronomy
arid two in biology, and it is hoped that
further means 01 encouraging graduate
study will soon follow.
More than two-thirds of the llbrnrv was
destroyed by the lire of October last, but
fortunately the books rescued were those
most used arid the law library, together
with the 1 braries of the biological lab-
oratory and the astronomical observatory
was uninjured. Friends of the university
have already mude many valuable dona-
tions toward the restoration of the general
horary. Including among other collections
the Hertz library of classical philology con-
about 15,000 books and pamphlets,
1 he fire also partially destroyed tin1 engl-
Tteering and physical laboratories, but these
will be at once restored and enlarged.
LAW AND MEDICINE.
A year ago a marked expansion look place
In the requirements for graduation tn law,
and a diploma is now given on the comple-
tion of each of the ten courses into which
the work is divided, tints enabling the stu-
dent to concentrate Ills attention during
the second year on these courses which he
lias not completed during tlie first. IS real-
er attention has also been paid in recent
years to the practical work of the moot
caurt. interest lu which is increased by
the late General Ruins Barringer ot the
confederate army. He is a graduate in
medicine both of the University of Virginia
and of the University of the City of New
York, besides hav'a? spent more than a
year in special study in Europe. He is a
member of various medical and other so-
cieties and the author of valuable mono-
graphs on scientific subjects. He has the
confidence of his colleagues and possesses
many personal qualities which well lit him
for the important duties of his new posi-
tion.
NEW BUILDINGS.
Work is progressing as rapidly as pos
sible on the new buildings to replace those
destroyed by the recent fire. The rotunda
will be fireproof and will be restored unal-
tered in external appearance. As every
one knows, it is modeled after the pantheon
at Rome. For the reception of the library
Is reserved the noble room which will oc-
cupy the whole interior of the rotunda from
tho floor of the portico upward and will ac-
commodate neal'ly 100,000 volumes. In the
basement, and adjoining it. will lie six well
lighted lecture rooms, which will be com-
pleted and ready for use at the opening of
the coming session of the university.
Facing the rotunda at the foot 'of the
lawn will stand the main academic build-
ing, flanked on either side bv the phvsical
and mechanical laboratories. The academic
building will bear a noticeable resemblance
to the famous aula of the university of
(lOettingen, and besides a dozen lecture
rooms and a smaller assembly room for
ordinary uses, will contain a large com-
modious public hall for special occasions
1 lie physical laboratory will contain an
amphitheater, lighted from above several
rooms for general laboratory purpose* ;i
work shop and a power room, besides six
ahoratories for special research and a room
lor optical work. The mechanical labora-
tory will be the headquarters for technical
work in electrical and mechanical engin-
eering In addition to a lecture room and
laboratories, it provides a druwin groom,
with photographic, and print rooms at-
tached, a room for periodicals and a de-
partment library, workshops and a room
lor engines and dynamos. An annex will
contain forges and foundries, together with
boilers for heat and power. The rotunda
and the new buildings will be heated from
this central plant. These buildings will be
constructed In classic style, tha whole
forming the rotunda, the arcades and the
professors' residences, a group at once
unique and beautifully harmonious, both
in form and color.
The future of the university was never «o
promising as at present. Opportunities for
Instruction in all branches have never been
so great, nor have they been in the hands
ot abler specialists. New a new era begins
and with improved laboratories, with a mod-
ernized and ever increasing library with
fellowships and other encouragements to
advanced learning, with the growth of the
spirit of research, of a desire to increase
knowledge as well as impart It. the hold of
the university ot Virginia on the education
Of tile sou h is sure to exceed anything at-
tained in the past.
Yonnit America Abroad.
Philadelphia Record.
George Downer, 13 years old, started away
from Fayettevilk; on January It to see the
world. He left home Willi $2, and tramped
to Syracuse; then he rode to New York. lie
got a job as cabin boy on the steamship
Massachusetts, and was hired for a valet.
George spent a month in London. He ami
Ills employer went to Ghent, and then tliev
returned to London.
George got a job on a ship going to Mar-
setlles, and alter spending two days there
KL s,r>' fS Bona, Algeria, and went
back to Marseilles. His money had sriven
out. and, after two weeks in the sailors'
home, he sailed for Malta In the steamship
Arabstan. Thence he went to Port Said
thence to Suez, and linallj to Aden. After
he left Aden American consuls helped him
along troin Lyons. Paris ami Havre to tho
t£u
hi
<h aJ^o
ft*
LEGAL TENDER COW,
Mil. ATKIXSOX WHITES R\TERTAI\-
IMJLY OX THE SI HjftcT
F1ATISM.
OF
OBJECTION TO SUGGESTIONS
WltHUy Cert Hi elite.* Might Contract
Hupltlly-KgKi ms u Medium of
Kxulniiixe,
steamship California, which arrived in "New
Saturday.
York on t
Boston, Mass., Aug. 27.—To The News:
The suggestion that 1 made not long- since
that legal tender certificates secured upon
whisky and cows might improve by age
and thus be better than silver, coupled with
a suggestion of egg certificates in place of
cents, has received the full consideration
which it deserves. Several important sug-
gestions, however, have led me to give up
a part of the plan so as to retain the cow
only as the single unit or standard of
value.
It is held that the whisky certificates
might be subject to too rapid contraction,
which would letul to unsteadiness when
they were presented for liquidation in
money of ultimate redemption, namely,
whisky. It is true that when tirst issued
there would bo little cull for liquidation in
raw whisky, but as time went on the con-
traction would surely follow and that would
deprive the masses of the people both of
money and of whisky alike.
Objection has been taken to the egg cer-
tificates for small change. It is true that
this objection comes only from those who
do not yet fully comprehend the funda-
mental principle lately so fully presented
by Mr. Bryan, namely, that if the govern-
ment creates a use by law of legal tender
for any medium of exchange, the ensuing
demand will at once fix the value of that
material without regard to its quality or
to cost of production. lie has only eluci-
dated this principle in respect to silver, but
it is manifest that it applies to all sub-
stances that have ever been made use of
for money. 1 do not know that eggs have
ever been legally adopted, but every one
is aware that whenever the mistress of a
hen yard requires a few goods at the shop
she is certain that eggs will be accepted
in exchange.
it is, however, held by the objectors to
egg certificates that while there are main-
persons who do not know the difference
between good money and bail money, al-
most every one own tell the difference be-
tween a good egg ami a bad egg; but they
say that some might be deceived and that
when the certificates were presented for
money of ultimate redemption some people
might be served with bad eggs. I confess
that this objection to egg certificates is
fatal, although I do not see why it is not
equally as fatal when it is applied to bad
doyars made of silver at a cost of 50 cents
each or thereabout.
Hut when we revert to the true prehis-
toric unit of value, the cow, none of these
objections can be maintained. Nay, even
the common rule that one can uot'eat his
cake and have it. too. fails in Its applica-
tion to cow money. We can have all the
cow money of legal tender that we need
and yet eat all ilie edible part whenever we
want beef. This fact goes to prove how
providential the selection of cows for mon-
etary purposes must have been, and we
have been deprived for ages of that great
advantage by the crime which was com-
mitted when cows were demonetized.
There is one great body of men who have
resisted the introduction of metallic monev
and who still possess the full advantage
of cow money the Zulus, the Kaffirs and
the other more intelligent colored races of
South Africa-still possess that great ad-
vantage over ourselves. The price of t
wife among these intelligent people at the
largest quotation was ten cows, other
household implements in proportion.
The great advantage of cow money in
this country would be the ready adaptation
of demand to supply and of supply to de-
in and. This would render it impossible for
any bankers or other nefarious persons to
corner the cows and hold them out of cir-
culation.
There is another advantage over whisky
and eggs. Neither of the latter substances
could be coined, but cows can be coined to
any extent. The coinage of metal is
worked by heating the metal and marking
it with a cold stamp— "One dollar, legal
tender for all dues." The only difference
would be one of method. We should heat
the stamp and mark the cold cow—"On©
cow, legal tender for all dues."
It is the province of the government un-
der the constitution to coin money and to
fix the value thereof, and having thus
coined cow money and fixed the value we
should only need to amend the existing
laws for collecting duties and taxes by sub-
stituting; the words "coined cows" for
"coined dollars." ,
The paramount/ advantage of cow money
would be, as 1 have said, that we could
have our cow money ami eat it. too. How
singular it is that this advantage had not
been discovered ages ago? The original
money consisted of bulls, oxen. cows, heif-
ers ami calves. Hulls would be excepted
under the legal tender act for two good
reasons. First, in order to keep up the
supply of calves, and second, because
while one can eat bull beef, it is not de-
sirable.
The secret which has so lately been dis-
closed by Mr. Bryan and his supporters is
that what the law declares to be lawful
money is money, of full debt paying power
and monetary force. Now we can not eat
the cow hide if we eat the beef, and the
coinage stamp will have been impressed
upon the hide. The hide would therefore
retain its full lawful value. Of course the
act for the coinage of cow money would
provide that there should be but one stamp
on each cow. Then would ensue another
ami great advantage of cow money. No
part of the hide would be needed for mon-
etary purposes except that which carried
the stamp. Therefore we could not only
eat the beef but we could use the greater
part of the hide for shoe leather and vet
have all our money left full of the mon-
etary force of law for circulation and suf-
ficient for all our purposes.
In that, again, we have an example in
China. The Chinese used to make bronze
or hardened copper knives, which thev used
lor monetary purposes, but when they
found that while they needed a very large
per capita circulation of money tliev did
not need so many knives, they left off the
blades and thus were enabled to make ever
so many more round handles with a square
hole in the middle, ami that kind of money
now serves the purposes of the great mass
of the. people in China, circulating as
money, paying debts and working as cash,
which it is rightly called.
Another supreme advantage of cow
money is that it would bear calf interest
ami thus tended to maintain its own vol-
ume of circulation. 1 do not think it would
be judicious to include asses in the coin-
age, although the Persians whose exam-
ples we are following fixed the value of a
she ass by law. 1 fear that ass money
might degenerate into mule money and
that would tend to contract the circula-
tion.
I venture now to reply to some criti-
cisms of my first proposal. 1 said that in
the time of cow money the asses bore all
the burdens of trade and commerce. Some
oi the people who want to double the price
of silver by free coinage of full legal ten-
der have suspected some reference to them-
selves in that application of the word
"ass." How can they suspect me of such
a design? Would not all the asses l>e need-
ed to carry on the work of production and
distribution in the great trade which our
improved cow money would bring about?
\\ by then double the value of asses by
such an act? We surely can not spare the
asses.
Does not President Andrews of Brown
university tell us that ike "money ques-
tion of the present time is the greatest
question of civilization?"
May I not then demand that mv sug-
gestion for remonetizing the cow shall be
treated with the same respect as the pro-
posal of the silver miners to remonctize
silver? Equal rights are demanded in the
mints of the country for the coinage of
gold and silver bullion, and the rigliteous
demand is now made for an equal right for
the coinage of the cow. The silver mining
classes demand the privilege of forcing
coined silver money upon the masses (spelt
with an "m" or otherwise) under the liat
ot law. May not the farmers demand the
equal privilege to force cow mone\ upon
a trustful community? Dare any one say
that only asses would bear either burden
without, any assistance?
In the confidence .of the justice of this
case, tlie benefit to the farmer and the
eulver miners
and to the hold-
or bullion, is in
PROFIT TO MINE OAVXEHS.
How the Leader* „t the Silver Party
I ropone to Advance the Price.
Edward Atkinson of Boston, in Brad-
streets of yesterday, has the following:
in view of the declared purpose of Mr.
;j '' e\\laii.is, the head of the regular
feadermrtrLaml °,r Mr" w- J Bryan® the
♦ v. I 1,0 Populist silver party to raise
from "ts^rewm Sll\er bHi,ion °f the world
an tn if » alue— to t.S cents
sirahhrnh, S^20.8" 0,,1,re' i( lie-
snanb to begin to measure the quantities
TheVtnwVl,ioh, are, ,t0,be >PeratedQ upon 8
. , 1 proposal which Messrs. Newlands
and Bryan h-.%ls ouWo th ' -xeBianus
ot this and other coi a
era of existing silver coin c
these terms:
J- To deprive the people of the United
e rlRhl 10 make any contracts
bargains or agreements for the sale of
goods or tor the payment of money excent
tn money of full legal tender without dis-
crimination, thus rendering specilic con-
tracts in gold coin only unlawful or void
to*"the ?,«tn V10 ™lnts of lh" l'n,ted States
in. .u?m ,)f min,'rs or other owners of
of stand' r t" i01 conyersion of ingots
r a j , v'r, into coins of standard
sil\ei ot full legal tender at the ratio of
i i.u 1 cost of the taxpayers and
0 »S expense to such owners.
compel the people of the United
to aec'enf h t0rc<i HU1 or act ot 1<sal tender,
to accept these dollars made of silver at a
■m J„1 owners of bullion ot' less than
ot) cents each at the rate of. or as the
equivalent ot, one dollar in gold
VVe may now proceed to consider only
one source whence the bullion would in
L™f'. ft which the value is to be
l^nds and Bryan?™''0861 °£ Mt'ss,s- New"
1 now submit an analysis of the last an.
"f' '•ePon which is before ™ the
a !,el] proprietary company of New
.til Wales, presented January at issitj
and covering transactions to November 3o!
It will first be observed that there has
been a rapidly increasing product of silver
bullion in recent years. The world's prod-
uct tor 1S90 to Ism inclusive was T.'ii it;'' :r,i
ounces, or liiu.tioo.tiuo ounces a year (See re-
P L 0 ./-M® l!lm>tor of the mint.) The
(.token ]|||| mine produced j2,299.ss2 ounc
in this period, or 14.34 per cent, of
SEMjm
Pages 9 to 24.
JOSE IVES LIMANT0UR
SECRETARY OP THE TREASURY OF
MEXICO PAYS A VISIT TO ST.
LOUIS.
r
NO DOUBLE STANDARD.
He Talks Freely of the Effect of the
Silver Stxindnrd on Business and
AVuucn in Hit* Country.
the
The opening of this mine was in 18R.". on
a paid up capital of 3S4.iHX)—$1.800.240. Vo
•»?. ur°Y. bern lm+ 11 hiid produced
31 .Mi< tons of lead, 1;>,.S35 ounces of gold
-t. .. tons of copper and 75.774.743 ounces of
silver, the total expenditures or cost of
production have been i:7.794.196—$37,859,792.
J! this cost is divided by the product "of
silver only, it makes the cost of the silver
bullion delivered in London within a frac-
tion ot 50 cents an ounce. If a fair portion
of the expenditures were charged to the
cost of the lead, gold and copper, the
charge against the silver might be reduced
to 40 cents an ounce, or thereabout.
«o«les i*1.1 London came to £14.860.336—
l.L.53—which, divided by ounces of sil-
ver only, would give an average return of
. (\ents an ounce, but a part of this return
is for other metals. We may, therefore
fairly infer a cost of about 40*cents and a
sale at about So cents an ounce of silver—a
little more or less.
The recent product of this mine has been
about 12.000,000 ounces a year, but in 1895 a
severe lire and the temporary "pinching
out of a large vein—since opened again to
ts former production—reduced the product
to a little over*10,000,000 ounces for the year
ending November 30; but as greatly * im-
proved processes of treating the ores are
enabling the company to reduce the cost of
production at every point, the-directors ex-
press themselves well satisfied with a profit
of £329,602 on a selling price in London of
2s8d per ounce, or 65 to 66 cents, which is
the present price.
From-this profit for six months the 101st
cash dividend was declared, adding .C2SS.000
to the previous cash dividends, so that the
stockholders have received In eight vears
>.7"2.0(j«i in cash—$27,954,720. In .addition,
bonuses and stock at nominal value carry
the returns to the stockholders up to
£8,160.000 or £1,000,000 a year on the capital
of £384,000.
The directors present statements of new
ore land added by purchase, new processes
adopted and in^proved machinery applied.
While the fire and some slips in one mine
tend to a temporary reduction in the aver-
age product, they show good reason to
expect to renew and maintain the previous
product of bullion, and on an advance in
price to add heavily from low grade ores
now laid aside in stock for such improved
conditions.
The Broken Hill mine is believed to
yield the largest production of silver; next
come the Anaconda of Montana and the
Huanchaca of Bolivia, the latter owned
mainly by English capital, the former late-
ly r"11 1 '
not
three mines may be assumed to supply
about a third or more of the increasing
annual product of silver bullion, now 17'.-
000.000 ounces, at a cost delivered in Lon-
don of less than 50 cents an ounce.
Messrs. Newlands and Bryan offer to
these producers of bullion, among others
to manufacture silver dollars for them wit hi
out charge, and to delegate to them by
ct of congress the power to force the sif-
er which costs them fifty cents (50 cents)
an ounce or less upon this community at
the rate of one dollar and twenty-nine
ents ($1.29) per ounce. That, is what 10
to 1 means.
In presenting the case of the silver par-
y. Mr. Bryan refers to the profits on this
undertaking as a mere incident to which
no regard should be given.
Assuming that the Broken hill mining
company of NVw South Wales will produce
12.000.000 ounces of silver bullion at a cost
of 4i' cents, more or less, an ounce in LS97,
or $4.s0o.ooo, Messrs. Newlands and Bryan
offer their services and their influence with
all the power of legislation to bring tho
value of this bullion to $1.29 per ounce, or
$15,480,000, and to compel the people of this
country to pay a profit to the Broken hill
mining company in lSi»7 of $10,680,000, as a
mere incident.
Of course. I express no opinion as to the
ability of Messrs. Newlands and Bryan,
backed by a congress of their confederates,
to accomplish this purpose. I only wish to
point out that this is but one incident, af-
fecting only 15 per cent of the total prod-
uct. of silver, in the undertaking which
they have declared in the plainest terms
to be the object of their campaign, name-
ly. to raise the price of silver bullion to
$1.2929 per ounce. It is in order to carrv
out this purpose that Senator Jones, chair-
man of tho committee of the populist sil-
ver party now masquerading under the
name of democratic, makes a frantic ap-
peal for funds.
1 may venture to suggest to Senator
Jones that a net profit of $10,000,000 would
probably satisfy the Broken hill mining
company, and that the directors would
doubtless be glad to place the odd $680,000.
even in British gold, at the disposal of
Messrs. Newlands, Bryan and himself in
order to enable them to attain their end.
Perhaps Senator Jones will apply. The
London office is at No. " Ureat Winches-
ter street. 10. C. Mr. Douglas Petrie is
the secretary.
With this statement I submit the silver
miner's case to your readers.
101 »\\ AKD ATKINSON.
y said to have been sold in large part, if
lot wholly, also to English bankers. These
\ llorn Dcu'eneriite.
Evening Wisconsin.
An American who recently saw Marx Nor-
dau in a cafe in Paris says of him:
"No wonder he abuses evervbody. for he
is the very quintessential figure of'gall and
bitterness. He is small and malicious, ami
as hardy as a monkey. His eves are large
and when he is not glaring at' lsben, Wag-
ner and Meterlinck they are fine and rather
sad in expression. He is a remarkable lin-
guist, and has an excellent praetiee as a
physician. He is at work on bis new book
ni!ul entitled 'How to Be Decent',
Though in Paris.' "
Worlli the Trouble.
Cleveland Plain Dealer.
"Popkins is a clever fellow."
What has he done now""
"He's put a spring gun in his back yard,
a burglar alarm at every window, an'elec-
tric mat at each door and a bulldog in the
kitchen. It costs monev, but he accom-
plished the purpose he aimed at."
"What was thai."'
"lie's got the hired girl so scared that
shea afraid to stay out late at night."
St. Louis Globe-Democrat.
Jose Ives LImantour, the Mexican minis-
ter of finance, arrived in St. Louis Thurs-
day and will leave for the City of Mexico
to-morrow. Mr. Limantour is accompanied
by his wife, daughter and maid; Mrs. Etu-
arte and daughter, relatives, and Mr. Luen-
gas, his private secretary. Mr. Limantour
has been to New York and other cities in
the east. He spent a month at Newport and
is now en route home. The party are at
the Planter's, and last night the Mexican
flag waved over the building in honor of
the distinguished guest.
Mr. Limantour could pass for an Amer-
ican in appearance anywhere. He is a dis-
tinguished looking man and fashionably
dressed. He is about 50 years old, tall and
thin, with gray sideburns. He speaks En-
glish with a decided foreign accent, but can
carry on a conversation in that language
very well. In conversation with a Olobe-
Demoerat reporter last night Mr. Liman-
tour talked freely of existing conditions in
Mexico under the silver standard. He drew
comparisons between the laboring man of
the United States and Mexico and showed
how a free silver monetary system would
affect the United States.
"Legally we have a double standard in
Mexico," said Mr. Limantour, "but prac-
tically it is a silver standard, as there is no
gold in circulation. Every ounce of gold
we produce is immediately drawn out of
our country by foreign nations. We coin
silver at the ratio of lt% to 1. We do not
coin gold, btit as quick as it assumes its
bullion form it leaves Mexico or is locked
up in our vaults as the property of for-
eigners. Mexico has had four gold bond
issues since I8S8 and a number of domestic
silver bond issues. The gold bond issues
aggregate about $100,000,000. Most of the
bonds bear 6 per cent interest. The inter-
est on the gold bonds amounts to about
$0,000,000 in gold annually, but when the
time comes around to pay the interest, we
have to give up $12,000,000 of our money.
So we really pay double interest on our
loan. Then the question presents itself.
What amount will it take to redeem the
bonds at maturity? It's a guess now as to
what we will owe at the time of redemp-
tion. If silver goes up we will owe less; if
it goes down it will take so much more of
our money to pay our creditors. It's all
according to what our dollar will bring in
the markets of the world.
"What Mexico wants most to-day is a
fixed price of silver. What we fear most is
the continual fluctuations of the white
metal. With silver up and down alternately
our merchants can not make calculations
for future transactions. In a commercial
sense we live from day to day. The mer-
chant in Mexico would place his business in
jeopardy if he made a contract covering
what is looked upon as a reasonable time
in the United States. As a result the Mex-
ican merchant is extremely conservative.
He buys only what he actually needs, and
when silver fluctuates violently, as it often
does, the Mexican merchant is obliged to
draw back and wait until he can see his
way clear to a purchase which will not
prove a boomerang at the next, dayUi quo-
tation on silver. This condition o> affairs
naturally leads to a general conservative-
ness in all lines. Our commerce is re-
strained. as we must naturally proceed
with the utmost care and caution in all
our business ventures."
"What is the comparative condition of
the laborer of Mexico and the United
States?" was asked.
"The condition in the two countries are
different." replied Mr. Limantour. "The
farm hands in Mexico get between 25 cents
and 40 cents a day. but as most of them
are Indians, they have no great needs and
are content with low wages. The Mexican
laborer is content to wear clothes made of
cotton. The lower class of laborers are
satisfied if they have for daily fare corn,
beans, a little meat and bananas, which
abound in great numbers. The average
laborer can not afford imported products,
such as good furniture. The highest wages
are made my artisans from other countries,
engineers, masons, etc. They get from $3
to $5 a day, of course in Mexican money.
Tinware, ironware, dishes and furniture
and farming implements, especially the
improved farming machinery, are very high
in our country."
"Supposing a carpenter who makes $2 a
day in the United States goes to Mexico,
and under your silver standard, makes the
average wages, could he live as well In
Mexico for the money he earns as he does
in the United States?" was asked.
"lie could not," was the reply. "He
could buy about as good food as he does
in the United States, but he could not with
the wages he earned in Mexico live as well
in other respects. He would have to wear
inferior clothes and use poorer furniture.
Mexican workingmen don't live in such
well furnished houses as American labor-
ers.
"The silver standard in Mexico acts the
same as a high protective tariff. It shuts
out foreign competition and has allowed
our home industries to grow. We have two
elements in Mt xico. The exporters, who
send to other countries great quantities of
coffee, tobacco and fruits, want to see sil-
they receive gol<L for
.'an
"fielr '
nersjf
want to see the price of silver rise, f ^thefi
the silvet dollar which they carry , gjrthetr
pockets would be worth more aiJ|f they
would not have to pay so much fodflbreign
goods, much of which is shipped «to the
country.
"No single country can successfully up-
hold a double standard system at an inde-
pendent ratio." said the Mexican minister
of finance. "A double standard can not be
maintained with free coinage of silver at
a ratio of 16 or lOU to 1. The moment fre<*
coinage at either ratio is declared that mo-
ment marks the beginning of a movement
which ends in the drainage of every dollar
of gold from the country. That is what
happened in Mexico, and that is what will
happen in the United States. So long as
the United States kept enough gold in in
treasury to counteract the heavy with-
drawals everything would be all right, but
the serious side of the situation would pre-
sent itself when the gold gave out."
"How would Mexico be affected by the
free coinage of silver in the United
States?"
"Mexico would at first be injured, on ac-
count of the great fluctuations which woul V
naturally follow a declaration of this char-
acter. but in the long run Mexico would
be benefited by free coinage in this coun-
try."
coftee. tobacco and truits, want to see s
vi r kept down, as they receive gold* 1
their exports and with that gold theyfp
purchase about twice the amount oy .'fi
sales in Mexican money. The con/ m
One FImIi SatiNtlcci Him.
Brockton Times.
The business men at the South End whose
families are summering at Monument, On-
set and other resorts vie with each other in
telling tales of their skill in angling alter
the war\ creatures of the briny deep. One
well known gentleman disdains fishing ton
cod and mackerel. They are not lArge
enough pr< y for him. lb- wants sharks oi'
nothing. This is the way he catches them;
He has a hook made of steel about Ufteei*
Inches long, rows out where the water ink
forty or liflv feet deep, baits the hook with
a piece of pork weighing ten pounds, ties
J one end of the line to the stern of the dory
I and sinks hi bait. Then he sits and smoked
I till the sharks gather, and he watches them
they play with the bait. Soon one big
fellow << sure to grab it. Then the patient
fisherman takes his oars and rows in, tow-
ing his prey. When he reaches shore ha
draws in the fish, to the wonder and aston-
ishment of all onlookers. He frequently on
opening the fish finds tin cans, kettles,
buckles, etc.. which tha tluuk lias iswaU
lowed.
i
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The Galveston Daily News. (Galveston, Tex.), Vol. 55, No. 166, Ed. 1 Sunday, September 6, 1896, newspaper, September 6, 1896; Galveston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth465361/m1/9/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Abilene Library Consortium.