The Peoples Voice (Norman, Okla.), Vol. 5, No. 25, Ed. 1 Friday, January 15, 1897 Page: 1 of 8
eight pages : ill. ; page 22 x 15 in. Digitized from 35 mm. microfilm.View a full description of this newspaper.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
A
The Peoples Voice
r'UL. 5.
WHY PROSPERITY DOES NOl
COME.
Philadelphia American: The old
year leaves a long string of business
wrecks behind it, and prosperity is
very shy about returning with tht
new. The commercial death rate
for the year 1896, save for the panii
year 1893, was never equalled by
any of the years covered by Brad
street's records—records going back
to 1879. Of every 1,000 men en
gaged in business, 14 met with disas-
ter in 1896. In 1893 the death rate
was 15. The amount involved in
the 15,112 failures of 1896—$247,
052,000—exceeded the amount in-
volved in any year of our history
save the panic years of 1893 and
>884, when the liabilities of those
failing were $402,427,000 and *248,
700,000 respectively. Dry-rot has
proven almost as disastrous as
panic.
Yet that failures should have mul-
tiplied is not surprising. They al
ways must muliply in the wake of
falling prices. Those engaged in
the production or distribution of
wealth cannot prosper when the
products they produce or handle are
undergoing a constant depreciation
in value, for a fall in the value of
the property of producers must inev
itably eat into the profits of produc-
tion, and a fall in prices unaccom-
panied by a fall in debts cannot but
lead to bankruptcy. And debts nev-
er fall, save by repudiation, and
consequently when the value of the
property upon which debtors rely
for the payment of their indebted
ness is knocked away, failures must
follow.
The merchant
NORMAN, CLEVELAND COUNTY, OKLAHOMA. FRIDAY, JANUARY LS. I8Q7.
cannot prosper
when prices are falling, the debt he I
has incurred in the purchase of
goods does not fall with the value
of such goods. The debt calls for
the same number of dollars, while
the goods bring less. And it is just
the same with all owners of proper
ty, and all producers must be own-
ers of property. Their property
falls away in value, while their debts
remain fixed. The result is that the ■
margin between the face of their j 1°' 7? 'n ever3"hou'a«d
j 1 . . . I ioo 1, against 14 for 1896; not
debts and the value of their proper
property into money when needed
When prices are falling, it isobvi
ouj that all those engaged in bust
ness and carrying stocks of goods,
must suffer loss through depreria
tion in the value of such goods, an.)
what is more, just as such goods fall
in price the difficulty of realizing on
them is enhanced. When prices are
falling, everyone puts off purchase*
in the expectation of being able to
buy cheaper tom arrow. Conse
quenlly, the more marked the ten
dency of prices to fall, the more
closely do buyers restrict their pur-
chases, and the ntore difficult it is to
turn property into money. Then,
too, falling prices render it increas-
ingly difficult to borrow, for the
owners of money hesitate to loan
on property that is growing less and
less valuable from day to day.
So we see why it is that falling
prices result in a multiplication of
failures, and when we bear this in
mind and recall the dire destruction
of property values during the past
year, we can no loi.ger wonder at
the great increase of failures for
1896 over the year before. As re-
corded by liradstreet's, the number
of failures in the United States for
1896 was 15,112, against 13,013 for
1895, not a very alarming increase,
but when the amounts involved in
the failures of the two years, /ve
are appalled, if not surprised, at the
increase. The liabilities of those
failing in 1895 were $158,842,000;
of those failing in 1896, $247,052,-
000. But such comparison falls far
short of giving us a true conception
of what the fall in prices has done
for us, for 1895 was itself a year of
many failures. If we carry our
comparison back to 1880 and 1881,
years of rising prices, we will find
that the number of failures were!
less than 40 per cent of the number
recorded for 1896, and the total lia-
bilities of those failing did not equal
one-third of the liabilities of those
failing last year. What is even
more striking, the commercial death
rate was but 6 in every thousand in
for
half
falling off in demand for manufac*
cured goods, and this to a It wer
range of prices all around. Dun
tells us cotton goods have fallen
from 10 to 25 per cent and most
kinds of woolen cloths by 15 per
cent. 1 his universal decline, as the
Philadelphia Inquirer remarks,
"must have annihilated the year's
profits of merchants who are re
quired to carry large stocks of mer-
chandise, even if they were fortunate
enough in escaping bad debts dur-
ng the year." But few have been
so fortunate, foi falling prices breed
bad debts, and debts failures.
A monopoly of railroads is not
enough, however, to satisfy the fi
nancial desires of the members of
the syndicate. They want the sole
control of the telegraph and tele-
phone systems, and incidentally of
the banks. 'I hey are now prepar
ing to make extra efiorts to secure
these privileges as they have decid-
ed that the profits from them would
be much greater than from their
railroads. Brice has left the city
for Washington and could not be
seen in regard to the plans of the
syndicate. E. R. I.eland, his confi-
dential man, was found at his office
So there is every reason for the i in Broadway and admitted that the
story was substantially true.
Chicago Express: The use of
postoffice money orders as a means
of holding small savings of casn in
safety is being adopted to a much
greater extent than most people
would suppose. Postmaster Hesing
of C hicago declares himself unqual
ifiedly in favor of the establishment
of a postal savings bank system and
in giving his reasons mentions the
fact that many persons withdraw
their money from the banks and
other places of deposit and purchase
money orders payable to themselves.
Of course, in so doing these persons
ignored alluring promises of interest
increased failures of the past year;
there is every reason why prosperity
loes not return. That reason is
falling prices, and the cause of the
lire fall in prices is an appreciating
lollar for which there is no remedy
save through an increase in the
number of dollars. Would that
there was some hope of the accom-
plishment of this during the four
years to come !
PLUNDERING THE CHINESE.
New York, Jan. 11.—Senator Cal-
vin S. Brice, at the head of a close
syndicate of United States office-
holders, and capitalists, has nearly
concluded arrangements for the es-
tablishment of a monopoly of rail- on their money and were at the ex-
road, telegraph, telephone systems , pense incident to buying the orders,
of China. Ex United States sen I but so great was the confidence in
ator William D Washburn of Min-! the government that many were glad
nesota and Clarence Cary, an at- ' thus to place their money for safe-
entrust it to
ADDITIONAL locals.
B. F. Williams is reported to be
quite sick.
Joe, Stuhhemsn'a hiirnesamaker, U
on the sicklist this week.
NO 25
THE REAL ISSUES.
I> I atomic, San tht- Kn.l of It. Rule If tht
Proplf'i Form* Won.
The election of 1H90 in past ami gnnfl.i
It ban been decreed by a largo majority
,, . . , , . I of the popular vote that the exist
>1 . 00 e I IH so d out hit* interasi KOld standard must be maintained nntil
tuttle grocery and feed store to his the very ! iprobahlo event when tht,
partner, Mr. Sherwood and has moved 1 leading foreign nations shall agree wit hi
to the country. j os for th<1 biul).taUio atttL(]uri|. T,UJ
The State-Democrat has been denig w"" ostensibly tho issue of the campaign
nated as the official paper of tho county
and the Topic was awarded the job
work of the county.
It was along this lino that the baftte
ttty
was fought, lint let no oue be deceived'
by the thought that this was tb? realj
ti wr o .. 1 '"sue. There are many sincere believers
H. VI . Stubbeman says that his old in bimetallism who voted the Hepublio ,
customers are fast finding out bin new an ticket tiecause they were thrown into'
location and he is having a fine trade u panic by the belief, industriously in-'
for this season of the year.
1 he G. A, It. Post at Norman had a
public installation of officers yesterday
and a tine beau-hake and camp tire ad-
ded much to the occusiou. Henry Ap-
plegatu of the Moore I'ost served as in-
tailing officer.
torney of Wall street,
now in China, as representatives of
the syndicate. With them is Mr.
Bach, a promoter, formerly living in
Washington, but who for some years
in China, where he has great influ-
an al-
ibis city, are | keeping rather
than
banks of whose reliability they were
naturally suspicious. No better evi-
dence could be given of the demand
for postal savings banks than the
fact that so many persons even now
the number of failures
proportion
ty is swept away, and when the mar j „, 1 , .. . ,
I atcly to the number of men engaged
gin is swept away they are swept in- i - 1
.« 1 1 . , . . ln business,
to bankruptcy. Those doing busi-
ness on a small margin are the firstly
to go; those who have a
ence with the officials of the gov-j make the postoffice, through its
eminent. 1 he preliminary arrange- money order department, serve as
ments have been made with the ut- the depository for their savings
most secrecy, and only the most in-'
timate friends of Cary and Wash-
burn were told of their destination
when the two men left the city in
November. Even up to today the
sccret was jealously guarded. The
The Brin of Maekey & Turk has dis-
solved, Mr. Maekey having withdrawn
Hud Mr. Turk remaining at the old
Grand Lender stand. Mr.Mnckey will
engage in business immediately at his
stand in the Central block.
Probate Jadge Williams had a cose
up for trial in his court yesterday that
had been so mixed up by the attorneys
that the Judge was at a loss just ho*
to untangle the skein. He finally took
a firm hold of it and disposed of the
same to the dissatisfaction ofallpu-
ties, himself included, but it was the
only way out he could soe at the time.
J. J Brice, of this city, received
ne«s of the murder of his brother Wil-
liam at Sedalia, Mo., last Saturday
evening. Robbery seenH to have been
the motive of the crime. After being
killed his body was placed upon the
railroad track, hut the engineer oh- I
served the body and ttopped his train had more important questions in tha
beforejhe ran over It. | balance than the question of silver coin-
There will bean " A voirdupots 9o-1 "B1>' u Ha "'d of its rnlo in ti
Chip'given at the Christian church. ,
Friday evening, Jan. WOud,T l'nom,nut million, of dollars
man will be required to
per pound for one-fourth of his lady'i
weight "avoirdupois." Refreshment*
culcated in their minds by the privileg-
ed classes, that out whole governmental
system would be revolutionized if tho
Bryan force, prevailed. They woro op-
pressed by lurid visions of riot and dis-
order and were afraid that the followers
of Ilryan would take some really radical'
actiou for the relief of the people if they!
were plaoed in power. It was not so
much tho free silver theory that waw
feared and defeated at the polls as it
was the crowd that shouted for free sil-
ver.
Senator Chandler, in discussing tho
election iu an English publication,
struck the keynoto of tho campaign iu
tho following words: "CouservativO
people—and America has more conserv-
atives than Europeans think — were
alarmed at tho character of tho follow-
ers of Mr. Bryan and at their doctriues
additional to the oue favoring free sil-
ver coinage. All tho socialists, anarch-
ists and wild nidi of society whom Eu-
rope has sent ns shrieked for Bryan, al-
though the great bulk of our adopted
citizens voted for McKinley. Tho plat-
form seemr 1 to countenance rioting as
a means of redress of grievances, and ill
made onn of its plauks a reconstruction
of the supreme court and in order to
change a legal decision."
This is a good enough general state-
ment of the causes which operated to do-
feat Bryan and free silver. Plutocracy
will be served, and a good time is an-
ticipated. No ono can afford to miss
it. All are cordially invited
The financial statement of the Nor
man Stale Hank appears in this Issue
and it is comforting indeed to see that
in these days of bank failures a swor
statement of as good a showing as Is
made by the Norman State Bank. Nor-
man is indeed fortunate in bavin
near future if the Bryan forces won. No
l'.aeh gentle- j to t,ltjot McKinley and pre:;ervo tbo gold
[lay a penny | standard. — W. P. Borland.
IlliM'KaHiou or Intimidation?
"It is ccrtaiuly an impressive sight •
to see tho American nation—a nation of
75,000,000 people, holding in its keep-
ing the solution of tho social and eco-
nomic qnes.joiis of the next century—
met togethi r to decide the policy of the
government. Bagot, the English writer,
j calls such a government a government
by diBCUHsien. The term is an apt one.
Vet campaign time is hardly a good
one for calm discussion. It is a time
In
short, the change
falling prices has
from rising
doubled the number of failures.
iUl invested propionates!, [" re"orts- «'* i-
volutne of business and debts Iast | fortl,nes of Armors and wage-earn
longer, for it takes depreciation | J™"' "0t , but ",e "lis
longer to eat up the margin. But I T" fl°f those classes are inti-
I mately reflected 111 the disasters of
the losses caused by depreciation of I
. / it 1, ... those
property fall on all alike.
So it is not surprising that 1896
should have been a year of business
disaster, for it was a year of falling
prices Losses fell on those en-
gaged in the production and distri-
bution of wealth through no fault of
engaged in the distribution of
wealth. When the farmer is impov-
j erished and cannot pay his debts,
j the merchant engaged in catering to
j the tanner s wants cannot prosper.
This merchant feels the curtailed de
1 niand of the farmer for goods, and
| he passes it along to the manufac
turer; he cannot collect debts due
him, and he cannot in turn pay
what he owes. So it is that the im-
poverishment of the farmer is pass-
ed down through the merchant to
through the
in .-896, for the 1 r' T'rr'r to the factory hand-
depreciation in values did not come ' , prlCCS g° °n falli"K
" farmer goes
The United States agricultural re
port for 1896 shows that the aver-
age cost of raising an acre of wheat
is Si 1.71, and of corn 11.69. W'ilh
- . ... , . wheat at present 75c per bushel the
first negotiations for this hui?e mo . .
, , ouge ino American farmer can hardly get
nopolv were made when Li Hum? . . , • ■ ■ .
nunS! cost out of it and with corn
Chang was in the country, liy ' j,
official connection with the i \v;. 1. r ,1
u .in pnces for products ! aged and the people do not
e |- - as the cost of produc- 1 dreu(1 'I111' 'hey will awak
much closer to him than was^os-Uf " -T Ti'?'' l''6 I "hhd.They carry' "their "money'will be I ?s how1 or litUo the
• I 1 # .. 1 American farmer is fast drifting in- cloned. j to do with existing conditions and re
siuie to the ordinary citizen.
~ IfMh. a,
I lie < Oklahoma militia shows signs 1 home convention at Guthrie to repre-1 fore election and told every owner of a
their
. g good | when partisan feeling runs high. Also,
' ; sound banking institutions. Both 1 during thi past campaign tho subject
et halt cost out of it.; bank, in the oily have been well man ! could not be discnised by itself alone,
i " I With present prices for products | and the people do not live iu Many felt tne pjotoctive system could
linen some « the members | an<) t|le a5ove as t(,e cost 0f produc -I dread that they will awake in the \ lj0t L" trusted in thohands of (us
.ing the same is it any wonder the I ni0!"1,"f 10 Ih,u'" th,lt lllB bank i„ ! Bllver cuu<1",nt0- Many were uncertain
l)OS* 1 American farmer is fast drifting in-
thein the fault of permitting a pol
icy to be yoked on their necks that
makes a depreciation in the value of
property inevitable. No business
care would have saved those en-1 . c
gaged in producing or handling the ' " mfa""fact,,rer'
products of labor ' - - - - 1 manufacturer
through any depreciation in the in-1 T'"er K°es °" Rowing
trinsic worth of products consequent I ? C"U"lg d°Wn his pur-
ou lack of care in their production ! °f manufac'ured goods, there
or storage. The loss was occasioned ° ,ndustnal revlval- '
through a lengthening of the mon-
etary yardstick, not in any deterior-
ation in the real worth of property.
And losses brought about through
depreciation of property that has its
origin in an appreciating dollar, no
business man however careful, can
avoid, for such losses are in reality
consequent on an increased value of
debts, not upon a decreased value
of property. $
The payment of debts rests npon
the ability of debtors to dispose of
their property. Undermine this
ability, and we undermine the value
of debts. If debtors cannot realize
cn their property they cannot pay ;
if they can realize'only at a loss,
they see their profits shrink away
through depreciation in the value of
their goods, a process which, if long
continued, must end in bankruptcy,
at sui ly as must inability to turn
short, while prices of farm products
go 011 falling prosperity cannot
come.
And the prices of such products
have, in general, taken a downward
'rend all through 1896. Wheat was
indeed higher at the close of 1896
than at the close of 1895, higher by
22 a bushel; but wheal stands
alone. Corn shows a net decline
for the year of 4^'c a bushel, and
as our farmers raised about 4'/,
times as many bushels of corn as of
wheat, the loss we have suffered
through depreciation in the price of
corn almost, if not quite, offsets our
stands
in the way of the success of the
work. This obstacle is the opposi-
tion of the Russian government,
which has instructed its represent-
ative at Pekin to do his utmost to
force the Chinese government to
defer the final signing of the con-
tracts. When Washburn and Cary
left this city they went direct to
Vancouver, whence they took pass-
age for China on Dec. 3d. On
reaching Shanghai they were joined
by Bach, who had been
them. Bach's first task was to ...
troduce them to Sheng I'aotai, min-
ister of communications, who has
authority delegated him by the
tsung or home office, to negotiate
with foreigners in regard to the
construction of railroads and other
of life. We thought it was dead. | ent thlg county and
I'he legislature's meeting has doubt j1 •'
that
passing a resolutio
incidentally to mortgaged farm, "if Bryan is elocted,
n vent ion from | "lis mortgage will bo foreclosed; if Me"
less awakened it from its R
Winkle sleep and it will probably 1,
ask for an appropriation t!. sustain "When 11 aSHembIed had have
v,a," ! Flynn for Governor.
favorable for
If theconven-
ap-
its stru
larly for
officers.
le tor existence, partial-
the maintenance of its
peared as though nothing else would
have pleased it, Billy perhaps,
would have reluctantly (?) consented
to such a resolution being passed, but | -s'iy McKinley is (lected.
when he had cast his eye over the 's elected, you needn't come
1 he written examination that Mr.
Roosevelt has insisted upon for men
seeking positions in the Police De-
awaiting partment has revealed an amount of
ignorance on the part of the candi-
dates that seems almost incredible.
At a recent examination tiie appli
cants were asked to write out what
they knew of Abraham Lincoln.
I he Critic gives some of the answers:
" I wil! tell yous aull that I know | the senat
improvements. From Sheng 'I'aotai j about Abraham Lincoln that he has v, i" be >L'nt hack to the house forcon-
the matter will be turned over to j k"1 Presented of the New YorkCity." j Cllrrence in tlle st'n:lte amendments,
six commissioners, who are to be ! "Has lost his life whiie liollin" : Scnat"r'''ettigrew I'op. of South I)a
named by Li Hung Chang, and act j pirshing (position?) "
ing together. One contract will be | "Me was at last assinated out
for a line of railroads from Hankau ! lhe effects of which he died."
Kin Icy is olected, you can got it extend-
ed. '
"Throughout the factories of the east-
ern and control states the workmen were
told on the night before election day:
" 'Boys, you may come back to work
Wednesday morning if the morning pa-
If Bryan
back, for
delegates he mounted a chair to in-1 "I1:i lu'" wou t °Pe"-' These considera-
crease his stature, and lustily shouted 1 ,'""s prevented expression of opinion
for an adjournment before th, con- Charleu A. 'fT^ 1ut'8t,ou'" ~ Hou'
vention had even time to get t
Flynn's name. Billy thought he sa
an opportunity to sidetrack Flynn
boom, hut did not want to do it s
soon in the race.
to some point within a few miles of | " 1 he person who shot Mr. Lincoln | pigeonholed and
Pekin. The latter city is not a ! was supposed to be a Souther,i Con 1 work for the Lace
treaty port and consequently it is [federate name Giateau for this offen-
not permissible for a railroad to j se he was tried and convicted and
come directly to it.
From Hankau to Pekin is a dis-
tance of a little more than 700
International Money.
International money is a dream. We
have never had such 11 thing, and it is
not ut all deiirable. International mon-
ey is a danger which we should not
willingly embrace. If our money were
tho same as that of the nations of Eu-
rope, our circulation would he ever sub-
ject to shrinkage whenever there was a
great demand for money in those na-
tions. It is n fact that international
money lias been considered an interna-
tional danger. Should war break out
j between any of the nations of Europe and
ubstitute for 1 a great demand for money bo created,
of I , he Flynn bill that passed and our Den-j the United Stutes would have all her
nis' little bill for Oklahoma alone i- circulating medium transferred to those
FKKE HOME BILL PASSES.
The general free homes bill passed
terday afternoon and
kota) championed the bill in the sen-
I ate. It was the Lac<
countries, which would tako from our
people the necessary money with which
to carry ou their business. Uudir such
circumstances wo would suffer from
contraction and spasmodic disturbance
in business, caused by the rapid drain of
miles, and at the rates usual in this
country the profit arising from the
contract would be great. But things j e<' with him he was ("lurk in a village
are managed differently in China ! grocery store and could lick any of
and the members of the syndicate village boys. He at one time had
gain from the rise in the price of > expect to make several times the us I a very bad friend who at the end kill
wheat, rhen, to take up our other
staple crops, cotton shows a net de-
cline for the year of ijjc a pound;
lard, of r *<c; pork, of 75c a barrel;
wool, of 1 y2c a pound. Such de-
cline in the money value of farm
products has, of course, led to a
ual proSt by the deal. They figure | ed him."
Dennis must now
bill and secure its
| passage through the house before we
| will be able to know definitely what
•iction Cleveland will take towards
sentence! to >e be iieaded. | the measure. If it passes the house our circulating medium to foreign na-
Another wrote: in same form a it has passed senate. . tious.
"Kind grntiemen, in reference to "will take Cleveland's vetoe to pre- We do not need an international
the life of Abraham Lincoln would I vent 11 fr"'" becoming a law. | money solely for tho use of the few rich
, 1 American travelers who annually go
say that I am not pearsonaly acuini Farm Loans abroad and carry with them millions of
Iain now prepared to' make farm , money which ought to bo (-pent in tho
loans on short notice. Call and see me I states. It' millionaires and plu-
, t«crats can afford to visit foreign lands,
D. W. Marquart. "ey are also able to bear the difference
of exchange usually existing between
for terms.
20-lf.
out that tbey are perfectly justified : Another offered this:
in charging the Chinese ten times j "He was the President that freed
the regular price for his rail-1 the South and let the Dorkey go fred
road, for, they say, no matter how I and he was shot by Garfield this is all
much it costs him, the benefit ari$-!t'istl renber of of president Lincom
ing from it will be vastly greater, so.I will close ho, ing t! at J will pass.
An Everyday Joke.
Woman (who has been turning over
shawls for half an hour)—Well, I don't
care to buy today. I'm just looking for
a frieud.
Clerk (politely)—Don't think you'll
find your friend among the shawls.
We've looked them all through.—New
York Tribune.
countries.—Silver Knight.
A. D. Acres an 1 .1. u. Maguire, tin-
hustling impleni -nt dealers of Nor-
man, will attend the implement deal-
ers' convention at Kansas City thi
week.
G. W. Clark has sold h's fine far. 1
orth of town to a Mr. i'ratl.er of
' esos.
Upcoming Pages
Here’s what’s next.
Search Inside
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Newspaper.
Allan, John S. The Peoples Voice (Norman, Okla.), Vol. 5, No. 25, Ed. 1 Friday, January 15, 1897, newspaper, January 15, 1897; Norman, Oklahoma Territory. (https://gateway.okhistory.org/ark:/67531/metadc116912/m1/1/: accessed April 18, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.