The Peoples Voice (Norman, Okla.), Vol. 6, No. 46, Ed. 1 Friday, June 10, 1898 Page: 3 of 8
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Tho Republican party, having by Itj acts, betrayod the constitution and the people seek,
an ally In John Bull. In time of ur«ent need John Buli'a army and navy would be expected to
protect American plutocracy from the kind of vengeance that rtlgned In France one hundred
years ago.—Chicago Dispatch.
rHE JUSE OF PRICES.
lVHY PRICES WENT UP biNCE
WAR BEGAN.
•"he Government lmn put In Circffi-Vatlon
Many Million Dollar* Which ;ih
Formerly Lying Idle and new Money
Will be Ittsued and Coined.
Since the actual commencement of
hostilities there lias been a marked up-
ward movement of prices on certain
-'ling's while there lias been but a very
small increase of money in the coun-
try, and we have been asked if these
facts do not tend strong-ly to over-
throw the "quantitative theory."
Certainly not. As there has been
frequently stated in this journal, pri-
ses do not depend upon the total
imount of money in the country, but
ipon the total amount in actual cir-
tulation.
Money that is hoarded away doing
nothing' might as well be at the bottom
3f the sea for all the effect it has upon
prices and business. There is always
some money not in use.
No matter how small the supply may
tie in a given country, every individual
ivill act according to his own instincts
ind judgment as to what he shall do
with his money. Some will invest it
in business—some will hoarde it away.
Some men are natural misers, and
many are timid about investing their
money.
In time* of business depression when
prices are falling, the disposition to
hoard money becomes very much
stronger and characterizes many more
people. In such times those who are
in no sense misers will lay their money
away because it is more profitable to
do so than to invest it in business on a
falling market. When prices are go-
ing down money is necessarily going
up. If average prices fall 4 per cent
in a year, the money which a man has
laid away will buy 4 per cent more at
the end of the year than it would at
the beginning. lie lias realized fair
interest on his money without taking
any chances upon the vicissitudes of
business.
On the other hand, if he bad invested
in some productive enterprise he would
have lost.
The fact is well known that from
1373 down to a very recent date we
have been doing business almost con-
tinuously upon a falling market. Con-
sequently people have been deterred
from investing their money except in
bonds, mortgages, etc., upon gilt-
edged security. This lias forced prices
still lower.
It is evident, therefore, that any-
thing that tends to bring money out of
its hiding-places and throw it into the
channels of trade, will have the effect
of raising prices, unless the supply of
other things should increase pro rota.
In the case suggested two elements
at once come into play, the tendency
of which is to raise prices: First, there
is more money in circulation; and, sec-
ond, as prices begin to rise credit nat-
urally expands, because credit is al-
ways better on a rising market than
on a failing one. and this acts as a re-
inforcement of the money supply send-
ing prices still higher.
Mow to apply these principles to the !
existing situation. The exigencies of
war have led to the sudden expenditure
of many million dollars by the govern-
ment, which money was formerly lying
idle. Not only has there been a direct
addition to the supply of money in cir-
culation, but there is the prospect of
considerable more, which, of course,
has its moral effect Ilesides, the out-
break of war opened the eyes of Europe
to the extreme scarcity of the wheat
supply, with the result of sending that
grain skyward, and, to some extent,
carrying other breadstuffs with it.
Other causes have conoributed in less-
er degree.
The reader must also bear in mind
what the "quantitative theory" act-
ually really is. It is not that prices
depend solely upon the quantity of
money; but that prices will be fixed
and controlled by the quantity of mon-
ey in circulation, compared with the
quantity of goods and property for sale
and the demand for each.
All of these elements play an impor-
tant part. If something extraordinar
occur to create an unusual demand for
commodities in general, or for some
commodities in particular, of course
their prices will rise even though the
amount of money in existence and the
quantity of commodities remain sub-
stantiall the same.
That would present a case in which
the demand for the commodities be-
comes stronger relatively than the de-
mand for money. The result is that
money ceases to bo desirable for hoard-
ing. It is withdrawn fro n its hiding
places and begins to perform the legit-
imate functions of money by effecting
exchanges and paying debts.
But no matter how high prices may
go under the stimulns of some sudden,
extraordinary demand, it is perfectly
clear that if in addition to the money
thus brught out and thrown into cir-
culation, there should also be a large
accession of entirely new money, prices
would go still higher. The more mon-
ey people have the more they can af-
ford to pay, and the more they will
have to pay if they are determined to
buy. By this it is not meant that a
rich man will have to pay more for a
given article than a poor one will, but
simply that if all were poor tho pricc
would fall, because the demand (that
is, tiie money demand) for it would
weaken.
It should also be clear that, with a
given amount of money in the country
there is a point beyond which average
prices cannot rise. They may fall in-
definitely because more and more mon-
ey maybe withdrawn from circulation;
bnt when it is all in circulation, all be-
exchanged for property, and sus-
taining the full volume of credit that
it can safely carry it is doing all that
it can do, and prices will go no higher,
save through a dangerous expansion
of credit.
This, of course, would be followed
r a speedy crash and prices would
full again.
The rise and fall of particular prices
when no change has occurred in the
money supply, depends upon condi-
tions peculiarly effecting the things
which rise and fall. Changes in the
general average of prices, in the main
result from the flow of money from its
hiding places into the avenues of trade
and back again.
When a horse is tethered to a stake
by a rope, say, 100 feet long, he is very
seldom just 100 feet from the stake,
because the rope is rarely drawn taut
He may be close to the stake, or 20 feet
from it. or TiO But he cannot, get more
than 100 feet away from it without
breaking the rope. One hundred feel
is the limit When he is less the rope
is all there as before, but some of it is
lying slack.—The National Bimetal-
list
l.und Monopoly.
The present situation in congress it
that the house committee on public
lands has, by a vote of 7 to 2, agreed
to report favorably the Shaforth reso-
lution for the cession of all arid lands
to the states in which they are locat-
ed. The absolute and unconditional
cession to the states of the whole arid
public domain capable of reclaimatioc
by irrigation, as is provided for by
this bill, would create sucli enormous
and innumerable opportunities for all
manner of gigantic schemes and land-
grabbing and the monopoly in private
ownership of all that remains of this
valuable patrimony of the whole peo-
ple, that the scheme is certain to find
active promoters and the very enorm-
ity of its iniquity and the huge possi-
bilities of plunder under it raise a dan-
ger, when the attention of the people
and the press and of congress itself is
absorbed with foreign complications or
war, that this monstrous scheme to
despoil the whole people of the nation
of a vast domain now theirs, and which
is notiiing less than an empire in itself,
may slip through unawares.
The press of the west have been a
unit in their protests against land
monopoly and all its attending evils.
If the Shafroth bill should become a
law it would create land monopolies
even greater than those which have
arisen under the land grant system ol
Mexico in that part of our territory
once under her dominion. The scheme
of state cession is in the interest o:
land speculators and cattle baroni
throughout the west who no doub
have their plans already laid through
various schemes to be worked in state
legislatures to absorb this vast public
domain into private ownership. And
if unconditional state cession should
ever prevail the progress of tiie west
would be retarded for a century, while
her vast area of arid but fertile lands
were devoted to cattle ranges when
they should have been reclaimed and
settled in small tracts by actual home
builders.
And when demand for land to till
for sustenance as the pressure of popu-
lation increases, a tenant class will |
plead for fair terms upon which to oc- |
cupy tho vast estates of the land bar- j
ons who will have absorbed the patri- I
mouy of the people through reckles
or corrupt state legislatures and the
cry of vested rights ' will be raised
when lannless thousands denounce the
trickery which has deprived them ol
homes.—Nebraska Independent
Send a boy on an errand and befori J
he reaches his destination he is aceom
panied by four otiicr boys.
Kin are never satisfied with the wa;
yon conduct your affairs.
A lie of any kind is now called i j
"yellow" in polite circles.
Storming ol lie Forts at San Joan
Accurate Description of the Naval Victory at Porto
Rico's Capital.
Early in the morning of May 12 Rear
Admiral SampBon'8 ships approached
San Juan, the American consul at C.ipe
Haytien having informed the adni(fal
that he had heard a report that thirteen
Spanish warships had been seen bead-
ing for Puerto Hico.
Nuiiipotou'a Plan of Action.
The attack on the forts was planned
so that our warships could be In a po-
sition to meet the Spanish vessels
ihould they emerge from the harbor.
The following is the official plan of
action Issued to tho American fleet;
"The squadron will pass near Sali-
nas Point, and then steer about east
'o pass Just outside the reefs off Cahras
Island. The column Is to be formed as
follows:
"The Iowa, flagship; Indiana, New
fork. Amphitrlte, and Terror. Tho
Detroit Is to go ahead of the Iowa, dis-
tant one thousand yards. The Wam-
patuck to keep to the Iowa's starbcard
bow, distant five hundred yards. The
Detroit and Wampatuck to sound con-
stantly, after land is closer, and to Im-
mediately signal if ten fathoms or lets
Is obtained, showing at night a red
The fleet assembled off San Juan
about 3 o'clock aud prepared for battlo,
stripping the decks and getting the
guns, ammunition and appliances for
handling the wounded ready.
Hampton Move* to the Iowa.
Rear Admiral Sampson had trans-
ferred his flag to the Iowa, and the at-
tack on the forts began at 5:15, and
lasted three hours.
The plans of the admiral were thor-
oughly carried out. The fleet steamed
majestically into the harbor, and In due
course of time opened a tremendous
lire upon the fortifications.
Three times the warships made the
circuit outlined in the official plan.
The forts withstood the first round,
but the Montgomery from its station
near Canuelo Fort wrought complete
destruction. With glasses the officers
of the Montgomery could sre tho occu-
pants of the fort Jumping over the
walls and running away. The Detroit
which went nearest to Morro, had lo
train Its guns at a high angle. lis shots,
directed at the north side of the Mor-
ro, cut deep furrows In the face of the
, fortifications. The Iowa, leading the
light over the stern and at daytlm« a flceti «ieiivered its deadly missiles with
red flag aft. 1 ho Montgomery to re- great accuracy upon Morro's northern
main in the rear of the column, stop- [ walls_ The ,.eat of the fl„et flred ln
ping outside of the fire from Morro order, first on Morro and then on San
and on the lookout for torpedo boat
destroyers. If Fort Canuelo fires she
is to be silenced. The Porter will take
station under cover of the Iowa on the
port side. The Niagara to remain
westward, off Salinas Point. While
approaching a sharp lookout Is to be
kept on the coast between Salinas
Point and Cabras Island for torpedo
boat destroyers. When near Cabras
island, one-half to one mile, the Detroit
will rapidly cross the mouth of the
harbor and be close under Morro to the
westward, screened from the fire of
Morro's westward battery. If the old
guns on the north side of Morro fire It
Is to Bllente them. These two cruisers
are to keep on the lookout especially
for Spanish torpedo boat destroyers
coming out of the harbor. The Por-
ter, when the action begins, will cross
the harbor mouth behind the Iowa and
close under the cliff to the eastward of
the Detroit and torpedo any Spanish
cruiser boats trying to get out of the
harbor, but it Is not to attack destroy-
ers. The Wampatuck will tow one of
<t.s boats with its mast shipped, flying
a red flag, and having a boat's anchor
on board the tug so arranged that It
can stop the boat and anchor at the
same time. It is to anchor the boat
in about ten fathoms, with Fort Can-
uelo and the western end of Cabras is-
land In range. There will lie two ob-
jects for attack, the batteries on the
Morro and the men-of-war. If It Is
clear that Spanish vessels are lying in
oort fire is to be opened on them as
goon as they are discernible over Ca-
bras Island, the motions of the flagship
being followed in this regard. If it
should become evident, however, that
neutral men-of-war are In the line of
fire a flag of truce will probably be sent
In before the vessels are opened. The
Porter is to hold itself in readiness for
this service.
Orders to Spar# linvpttnln.
"Care must be taken to avoid strik-
ing the hospitals on Cabras Island. If
It becomes • necessary to silence the
Morro batteries a portion of the fire
will be directed with this object. But
the principal object Is to dstroy the
ships. After passing the harbor mouth
the Iowa will turn a little to starboard
toward the town, and will then turn
with a starboard helm and again pass j
to port, and after passing Cabras is- j
land to the westward. It will turn again j
with a starboard helm and pass as at |
first. Should this plan be changed and
It be decided to hold the ships in front
of the entrance the signal 'Stop!' will
be made at the proper time. The In-
diana, New York, and monitors will j
follow the motions of the flagship and |
remain in column. The course after |
Fort Canueio is brought Into range j
Carlos, according to position. On tho
second round the Spanish gunners were
thoroughly awakened, and stood by
their guns bravely, keeping up a furi-
the Nev/ York's four wonnded men aft-
ly two were seriously enough Injured
to call for their transfer to the hospital
ship Solace, which subsequently Joined
the fleet. The New York flred 250
shots. It is said, during the attack.
The only war vessel of a foreign
power at San Juan during the attack
was the small French cruiser Rigault
de Genouilly. It hail its rigging cut
by pieces of shell. After the bombard-
ment the Frenchman left for the Island
of St. Thomas, where its commander
told Captain Converse of the Montgom-
ery that the American operations wer^
entirely Justifiable. It is understood,
however, that the French officers, lu
conversation with other people, criti-
cised the wisdom of the attack.
The Island of I*orto Rtro.
The island of Porto Rico Is one of
the richest of Spain's colonies. Its
name means ln English, "Rich port."
It is a trifle smaller than Jamaica, b
lag the fourth in Blze of the Antilles,
but the fertility of Its soil and the sa-
lubrity of its climate have led to its
being given the name of "the gem of
the Antilles." It lies to the east of
Haytl. A range of mountains runo
through the islands from east to west.
In the interior are healthful and exten-
sive uplands, and along the coasts are
tracts of fertile land. Nearby the
whole of the north coast Is lined with
navigable lagoons, some of them ten
miles long. There are also numerous
hays, creeks and rivers, which are navi-
gable; but the north shore Is subject
to tremendous ground seas which beat
against the clIfTs with great violence.
Only three harbors are safe -Ouanlca
and Hovas on the south shore and Sail
Juan on the north. There are no ser-
pents or reptiles on the Island. It is
wholly an agricultural island, produc-
ing sugar, rum, molasses, coffee, cotton.
Johacco, live stock, timber, rice, etc.
JUA
J C
ISLAND AND FEATURES OF PORTO RICO.
ous, but aimless fire. From their firm
foundation and high elevation thoy had
a splendid opportunity to cripple our
fleet, but tho Spanish gunners seemed
to lire rogardless of aim and as if onijr
desirous of emptying their magazines.
Terror flay* a Lone Hand.
At the end of the third round the
monitor Terror failed to understand
the order to withdraw and engaged
Morro castle alone for half an hour.
The Terror moved in as if intending to
ram the forts and the Spanish gun-
ners evidently became much excited at
its behavior, for they fired rapidly and
evidently without taking any aim, for
the Terror was not touched. Every
shot fired by the Spaniards could bo
seen. The flash and smoke of the bat-
teries were followed by great splashing
hundreds of feet from the Terror. The
shells of the Spaniards on exploding
would fling columns of water sixty feet
high.
The heavy swell somewhat affected
the aim of the gunners of the Terror,
for some of its shells struck the sea ln
front of the forts. Finally the Terror
seemingly grew tired and slowly with-
drew, firing as it steamed away. Then
the Spaniards .became almost frantic
with excitement and blazed away at the
monitor until it was long out of range.
with the west end of Cabras island will I Counting the CmooUIm.
be east by south. Should nightfall ! After the battle the dispatch boat
come with the port in the enemy's 1 went among the fleet to inspect the
hands and the ships inside, the cruisers j damage done. The sailors were calm-
will take up positions just outside the | ly cleaning the decks and polishing
harbor, the Montgomery to the east
ward and the Detroit to the westward,
with their batteries ready and the men
at the guns. They will show no lights.
The other ships in (succession will
sweep the entrance of the harbor and
the channel leading into the anchorage
■with searchlights to keep the torpedo
boat destroyers from coming out. In
, the guns. On board the Iowa a boat
was struck and caught fire, an exhaust
pipe was dented, the bridge railing was
shattered, and three men were slight-
ly wounded. All thl3 was done by tho
solitary shell which struck the Iowa.
One shell which exploded on the New
York killed a man, wounded four oth-
ers, shattered two searchlights, splin-
case the enemy should attempt to es- j tered a cutter, tore three holes ln a
cape from the port fire is to be concen- | ventilator, and broke a small davit
trated on the leading ship. Should the I arm. The New York was hit only
attempt be made at night the search- j once. In addition to the man killed
lights in use are to be turned on it3 I on board the New York, a gunner's
bridge and conning tower and are to be | mate on board the monitor Amphltrite
held there." died from the effects of the heat. Of
•Wc:
to1-
SAf«C*ure *
THE HARBOR OF SAN JUAN. SHOWING EXTENSIVE FORTIFICATION
REDUCED BY SAMPSON'S FLEET.
San Juan de Porto Rico, the princi-
pal city and seaport of the island of
Porto Rico, capital of the colony, and
of the Province of Bayamon. situated
on a narrow peninsula off the north
coast, Is connected with Cayuas. an is-
land tewn twenty-threo miles distant,
by a good macadamized road. Its pop-
ulation Is about 18,150. It is fortified
and walled, regularly laid out, wel!
drained,and ene of the best and health-
iest towns in the West Indies. The
principal edifices are the bishop's pal-
ace and seminary, the Royal military
hospital, old Government House,a large
cathedral, custom house, town house,
with a fine hall, a handsome theater,
arsenal and Jail. The town is the seat
of government and superior courts of
the Island, and of many schools
Harbor of San Juan.
The peninsula upon which tho Mor-
ro and the lighthouse stand is thrust
out into the sea, on one side breasting
the thundering surges of the Caribbean,
and on the other guarding the piacid
waters of a beautiful and almost land
locked harbor. This harbor is one of
the finest ln the West ladies, large,
sheltered, and capable of accommodat-
ing any number of the largest ships,
giving anchorage in from three to six
fathoms.
Though the main portion of San
Juan is inclosed within the walls,
through which entrance is only obtain-
ed by -well-guarded gateways, yet there
Is a small town by itself in the Ma-
rina, between the fortifications and th
wharves. Here is a fine public garden
and pleasure space, with booths and
restaurants, as well as the public cock-
pit, where battles royal are frequently
waged. The buildings of the inner
city are of stone, massive and substan-
tial, like those of Havana and the City
of Mexico; in fact, of the old-world
type, and ln case of bombardment there
woald be little danger of a conflagra-
tion.
Doyle Roche Oatdone.
"He is an enemy to both kingdoms,"
said Sir Boyle Roche, "who wishes to
diminish the brotherly affection of the
two sister countries!" Equally note-
worthy with this was the highly cred-
itable sentiment uttered by the gover-
nor of one of the United States at the
opening of an industrial exhibition re-
cently. "Let us hope," said he. "that
the occasion will be an entering wedge
which will bring about a more perfect
unity between north and south!"
Dine Tint in tilaii.
The blue tint in glass has its Cause
in chemical deposits formed in tho
coal gas furnace, and which under the
action of the air produces a blue coat
on the glass. To remove this blue tint
the glass, as It comes out of the an-
nealing furnace, is made to'pass
through a water bath weakly acidized
by muriatic acid.
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Allan, John S. The Peoples Voice (Norman, Okla.), Vol. 6, No. 46, Ed. 1 Friday, June 10, 1898, newspaper, June 10, 1898; Norman, Oklahoma Territory. (https://gateway.okhistory.org/ark:/67531/metadc115826/m1/3/: accessed April 23, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.