Wairarapa Daily Times. [Established 1878.] SATURDAY, MAY 13, 1893. BIMETALLISM.

Wairarapa Daily Times, Volume XV, Issue 4417, 13 May 1893, Page 2

Wairarapa Daily Times. [Established 1878.] SATURDAY, MAY 13, 1893. BIMETALLISM.

SECOND EDITION

In.the House of Commons on the 1 ,28tb of February, the binietallists bad what The Times calls a field day, and the giants of finance met in mortal conflict. Tho question affects our interestsclosely and deserves public atBimetallism, or the " mak- : ing silver legal tender" necessarily implies two things, First, that silver shall bo minted free, as gold now is; 1 for it would bo an empty boon to tell an American silver king that ho might : pay his taxes in silver and then re-* ■ fuse-lo mint it for him. Secondlj, .that some ratio shall bo fixed as between silver and gold. This point is the subject of much popular misap* ; prehension. It does not mean that the relative value of silver and gold shall be, or can be, fixed by law. This is 1 beyond the power of any act; as may : bo teen at onco by considering the . case of any two other commodities such as iron and copper. It does : mean that all debts, taxes, and other . obligations expressed in money, shall ; bo discharged either in gold or silver ; at tho option of tbo debtor. Men are so accuatomcd to paying their debts in " money" that they find it bard to understand that no rantter how the transaction is marked .by tho use of notes and cheques, payment is always ultimately made in gold, and made by weight, the sovereign being morely a piece of standard (22 carat) gold, weighing 123 grains troy. This gold is subject (o rises and falls in valuo, just like iron or copper. Nearly all authorities bold thai, within the memory of man, gold has risen in value about forty per cent. Hence, as a general rule, a debtor has paid a little more than he contracted to pay, and people with " fixed incomes," such as pensioners, have gained. Now, if debtors might j pay iu silver, it would be obvously necessary to fix some ratio; and it i;

also certain that tlio current value of tlio day would be the ratio selected. At present, wo believe gold will buy twenty-five times its weight in silver. Were bimetallism introduced, then, all holders of silver could have it coined inlo pieces of money, which we will call, for shortness, " pounds," These could weigh exactly twenty-five tiiues as much as tho sovereign, and be legally equivalent in value, But this does not mean that anyone could jdrmand a sovereign for a pound, or a pound for a sovereign; but o.ily that any obligation expressed in money, could be discharged either in pounds or sovereigns at the option of the dobtor, Tlio effects of such legislation appear to us obvious, and we shall lay them before our readers briefly, without arguing out the details at length. Certain figures, however, must be introduced. Silver has been steadily sinking in value for a long time. In 1871, an ounce of gold would buy fifteen ounces of silver; in 1880, tiventy-two ounces, flow it will buy more, The amount used in tho arts is 20 million ouncos yearly, the amount produced is 95million ounces, iliß amount circulating as coin is 15C0 million ounces. These figures were calculated for 1886, as "were corresponding ones for gold quoted of late, but will serve nur purpose. We think the depreciation will go on, and that if silver be made a legal tender obligations will be largely met in that metal, Turning to gold, we find the nmount used in the arts to be 8J million ouiienp, the amount produced 5 million ounces, the amount circulating in coin 107 million ounces. Concurrently with the continued depreciation of silver, by which we do not mean depreciation relatively to gold, but relatively to all commodities, there would lie a depreciation of : gold. The immense mass ol gold (167 million ounces) now in" circulation" as we say, but really held by banks as reserves, would be practically released, and as the demand in the arts, at present values, is small it would bo a long time before it was consumed. If the consumption was doubled, tho present stock would last 50 years. Put in another way, the result would be a general rise in price, lasting Borne 50 years, during which gold would be worth the merest trifle more than silver, That is, if the pound was by law twenty-five times the weight of the sovereign, tho latter would in practice command a penny or two more, so that gold would not be minted, but sold; tbediflerence might be less than a peony, as the present stock of coined gold could ony be sold to actual manufacturers of jewellers, dentist's gold, etc,, and even at a greatly reduced value (relatives to commodities) could not be absorbed for mauy years, Its only other use would bo to pay debts, and as for that purpose it would not have any advaniage over silver, we do not see how manufacturers could be induced to give moro than the merest trifle in addition to its face value for gold. Ultimately the whole of our minted gold would be used up in the arts, and the yearly supply would then command a value wholly irre - spective of the fact that it was legal tender. If tho supply was small, poople who wanted bracelets might bo willing to given " pound " of legal money for a fiftieth pait of its weight in standard gold; and gold would then be quoted at about £8 per ounce or a premium of 100 per cent, We should be niono-metallists again with a silver basis. All this assumes that the depreciation of silver continues. We think it will, but it will possibly bo checked by the faot that if the present gold coinage (167 million ounce!) iB to bo absorbed in tho arts, it will require nearly 6000 million ounces of silver to roplace it, which would take at present rates 100 years to produce, Any depreciaiion will, of course, tend to check production, and this will also tend to retard the ultimate catastrophe. In the meantime, the general rise in prices, which wo regard as inevitable, woulduffect only debtors and creditors. Ordinary cash traders and men working for wages would be absolutely unaffectod. As a colony, wo should find wool, butter, meat and wages rise together, Hence wo could increase our taxation without suffering any extra pressure, and wo should find the interest on our debt a lighter burden, Put in a phrase, bimetallism means a repudiation of an unknown percentage of all debts, a general riso in prices, andan ultimate roturn to mono-metall-iem with a silver basis, If our figures as given above were corrected to date this would strengthen our case, for the production of silver has greatly increased, while that of gold seems to remain nearly stationary,

The Silly Editor of the Wairarapa Star has had the impudence to write of us in the following attain :

Surely tho Rev Mr Dukes will bow his head in shame when he reads tho footnote to his letter, and will agreo with us the man /tho Editor o( the Waimumh Daily Times) who so demcnus himself as to use a sad fatality to emphasise his remarks in such a matter, regardless of the feelings of those left to light the battle of life as best they can, deserves to be soundly horsewhipped and cast headlong out of the community as a hard-hearted and fiendish mortal,

The person who has written of ub as "a hard-hearted and fiendish mortal" has, in the past, whon ill poverty and distress, been relieved and assistod'by us. On many occasions we have been to him a good Samaritian, and he knows that the words he writes about us are falao malicious lies. We shall take no further notice of him or of anything which he writes or aays, unless he becomes too offensive, and then we shall probably kick the pitiful ox-Salvation Army impostor,

Special attention is drawn to a new advertisomont from the Dresden Piano Company published in this issue. Tho Provincial Farmers' Co-operative Association propose lo oroot t-hreo butter factories and sixteen creameries on the West Coast, and in tho Wairarapa a factory a( Featheraton, with creamerioe along the line wherever 200 cows are guaranteed. A good authority on the subject informs a contemporary,that hehas proved by oiporionco that a pig r'l grow to weigh 601b for 501b of food consumed, It takes 1091b of feed to tho next 501b, and after it weighs 3001b it takes 61b of feed to mako lib of pork, The profit then is in k'Hing before they roach over 3001b weight, And they sell better, and at better, prices usually, if they are killed at less than 3001b weight.

Tho police #f New Yorkaro inclined to think that they have tho elusite " Ripper" in their clutches. A woman was ripped up the side on a Sunday night recently, and a big knife was left sticking in the wound. The knife was traced to one Frank Castellano, an Italian barber, whoso record has been under tho polico searchlight. Thuy discovered that until recently he was a firemau aboard one of the Trans-Atlantic steamers. Thero are oircumstances connected with the case that inclino tho police to believe that Cestellanols none other than the mysterious "Jaok the Hipper," who kept London in terror for two years.

The Government have decided to extend the timo for receiving collections of noxiouß weods and insects for which prizes of £lO and £5 have been offered. Tho extension is from 31st December, 1892, to 31st March, 1894. Acceptances for the Maori Hack Race Meeting, which takes place on the 18th instant, closo with tho Secretary, Mr W. lorns, at nine o'clock this (Saturday) evening.

A meeting of tho Maßlerton School Committee will bo held on Monday even i ing next, at 7,30 p.m. The monthly meeting of tho Masterton Hospital Trustees takes place on Tuesday, May 16th, at 3.30 p,m. Tho remains of tho late Mr H, R, Low were interred at tho Mastorlon Cemetery, yesterday afternoon. Mr W. R. Bono informs us that he has been appointed Wairarapa agent fur tho Provincial Farmors' Co-operative Association. ' Mr E, Meredith, of Masterton, has resigned tho Commission of the Poace, and the Hon Messrs W. M. Bolt, Duncdin, J. E, Jenkinson, Ulmstchurch, W. Jennings, Auckland, and John Rigig, Wellington, been appointed Justices of the Peaco,

Tho Evening Press understand that the Bon. James Carroll will, at tlio general election, stand tor a Euiopean -constituency, and that he has determined to offer his services for one of the East Coast electorates. Ho is extremely popular In the district, and bis brother, who it chairman of the local county council, has a large amount of influence, which would, of coutso, bo exercised in his favour. Addod to this is Iho prestige of his connection with the Ministry. Undor all tho circumstances, Mr Carroll will bo difficult to beat,

The sooialand danco under the auspicos of the Volunteer Fire Brigade, held last evenine in the Drill Ilall, was a pronounced success, and the officers aro to bo congratulated upon the result of their efforts. Considerably over two hundred persons wcro present, and tho majority occupied tho floor, twenty dances beiug Riven to the inspiring strains of Keisenberg's String Band. Songi wero rendered during the evening by Messrs Millar, Croiton, and others, and the arrangements being excellent, everything pngsod olf vory pleasantly. Refreshments were provided by the ladles and the heavy ladon tables wero patron* isodtoa full extent. Dancing was kept up with great spirit, until the early hours of tho morn, when the company dispersed thoroughly satisfied with the programme provided Before the social commenced tho two Masterton Brass Bands played several highly appreciated selections of music outside tho hall.

A. great commotion was caused on the Queen's Wharf, Wellington, yesterday morning by the sudden appoaranco of n lively snake about thrco feet long, which camo from a load of bananas on to tbe wharf. Tlio reptile wriggled about in great stylo, and considerably scared all those who happened to be near at the time. A crowd quickly gathered, kept a respectful distance, until a small lino was procured and Mr Snake was lassooed, The lino was made fast round his middle, and in this fix ho wbb held up to an admiring audience, until ono of tho wharf hands took him away. Tho unwelcome visitor must have come down from Fiji, via Auokland, In the Union Company's steamer Taviuni, which arrived here at B.SO last evening. Snakes havo rathor frequently been landod in a similar manner, and perhaps many escape without being scon,— Press, At a meeting of tho Provincial Farmers' Co-Operatiye Association, held in Palmoreton North on Thursday last, the ! following wmo appointed directors Messrs J. B. Brown (Manukau), W. Bewly (Taranaki), W. Cox (Waitolara),, A. Farmer (Palmerston North), 0, \V Grove North), A. Heggio (Wangonui), D Matheion (Bunnythorpe) W. Syraea (Manutahi), W. Ddy (Greytown). W. B. Matheson (Eketahuna). All the directors are farmers. Canvassers were appointed, and it was decided to hold the next nioeting of directors on Tuesday, June 30th, alter which building operations will bo proceeded with If a fuQicicnt numbor of shares have been applied for. Heavy sales of Indian bills, at a low ratoofoxchange, havo unsettled tho sil-> vor market, Two of our old colonists' sonß (Mr Herbert Wilkie and Fred Freethey), have resolved upon taking a trip round the world, They will leave Greytown early licit week and proceed by tho II M.S. Alameda via San Francisco and will visit the World's Fair at Chicago on route,— Standard,

'The Wellington oorrespondont of tho Wairarapa Standard says" An offort will bo made at tho racing conference meeting in July, in Wellington, to cut down very largely tho number of meetinga at which the totalisator shall be uied, Unfricndi know thai otherwise it ia doomed. In South Australia it was saved by legislation, and certainly the whole country tide and even racing enthusiasts agroo there is too much racing.

By advortiaemont in another column it will be seen, that with the view of establishing creameries in the Eketnhuna district, a meeting of the settlers is called to beheld on Saturday next, At this mooting Messrs Matheson and Morgan, who were selected to attend a meeting of the provisional directors of the Provincial Farmers' Co-operative Association, held at Palmeraton North, will submit the proposals which were agreed to at the Palmerston meeting, At present, if sufficient Bharcs are appliod for, it Is proposed to establish a oreamery in Eketahuna, and possibly one noar Hastwell, and one in the Manoaone valley, from which tho cream would bo forwarded to Feathorston, ivhero it is proposed.to erect tho main factory for tho Wairarapa. Mr Matheson has been appointed a director, and Mr Morgan will canvass the diatrict for shares. Should three thousand Bharcs in all, be taken up in the whole district worked by the Association, immcdiato stops will betaken to prepare faotorioi and oreamericß to bo ready for operations iu Octobor next, The milk suppliers who take up shares, if necessary need only pay ton shillings in cash, the balance of the calls can be paid out of the milk account, All skim milk will be returned to suppliers, While endeavouring to explain the difference between Hugby and Association football at Thursday night's meeting of tho Wellington City Council, Councillor Petherick, with the assistance of several of his fellow-councillors, bocame somowhat mixed, Finally, he explained it in this way" In ono case they kick tho ball—Councillor Harris (interrupting) : "And in the other tho ball kicks the man," Councillor Petherick : ! "No, no; in one case they kick the ball with the feet-and sometimes tho man, too—and in the other—in tho other, yes, ill the other, 1 say, they kick with—no, In the other they do it with tho hand, That is tho difference." Councillors wore perfectly satisfied with the explanation. -Press.

The Bon Marche is to the Wairarapa what tho sun is to the solar system—lts principal light. Wherever you go you hear ol Hoopor and Company and theiruniversal store. People living In the north, south, east and west go there as naturally as ducks take to water I People furnishing fly to them ou wings of expectation to feast ou bargains sucn as nowhere elso could they hope to get I They do the business well I They do it economically I They do it to the satisfaction of those who favour them with their orders! Fashionable ladies are amongst their most valued patrons. They visit the Bon Marche in shoals. Hooper and Company cater specially forthem. They show them everything new I They place the latest of fashion's fads before them 1 They offer them the ohoicest and newest, and consequently are considered their best friends I Business men patronise them because they know by business instinct that they are business people who do business In a business way. And they tell there wives and daughters all about it, and advise them for their own benefit and the benefit of the family purse to do the wholo of their shopping at Hooper'sßon Marche, Young ladies like our shop. They like to roam about and look at this and that, and spy out this new thing and that beautiful novelty and then for ribbon, laces and gloves. Why they all weir (is haras swear, of course, in libsujh ilikwSTO)llW9E3jliCJ Ulltlt,

Mr J. Payton lias beon requested by tho "Memorial" Committee to receive subscriptions from old friends of tho lato Rev. Amos Kuc'l who reside in tho Wairarapa North Count)'. Any subscriptions forwarded to tho WiißiiurA Daily Times oflico will be duly acknowledged. Mr R. K. Jackson, solicitor, of Masterton, has decided to visit Fenlberston every Monday, commencing on tho 15th inst.

It does not appear to bo well-known that Tn Kooti, who began his notorious career by a massacre, ended it through a dog fight, In conversation with an intelligent Maori woman who was present we learned the following particulars: To Kooti was enoaniped with his followers ono ovening and lying near the camp fire. Standing near on a slight riso was a dray containing provisions eto. and the wheels were not chocked. During tho night two large dogs belonging to tho natives began fighting and in their scuffle went against ono of the wheels of tho dray and started it down the incline. To Kooti was lying right in ita course, and before ho conld bo warned one wheel orushed into his chant. From that time ho bccamo ill and finally he died from the effects of this peculiar accidont. —Standard,

The M.V.F. Brigado publish a vote of thanks to all those who assisted to make last night's social tho success it was.. Jn our advertising columns will be found the names of the members of the various committees appointed in connection with tho Masterton Hospital Ball. Tho annual meoting of voters of tho Masterton Town Lands Trust, will be held on Monday next, whon the report and balance sheet for the past year will bo presented. A trio of Inebriates, first offenders, were convicted and discharged in the Masterton R.U, Court this morning. Messrs Loweß and lorns announce a sale of valuable freehold property in Worksop Eoad and Miriam streot for Saturday, 27th May at 2 o'clock full particulars will bo found in our advertising columns, Tenders are now boing invited for the plant, Btock-in-trade and goodwill of tho Pahiatua Star, to closo on Monday, May 22nd.

An ovangelistic meeting will bo he'd in the Temperance Hall, Masterton, tomorrow (Sunday) ovoning at 7 o'clock. The subject will be "The expreanio" ' Repent Ye,' what does it mean ?" The Masterton Mutual Improvement Society held a very intereatiug meeting in tho Wesleyan Schoolroom, at which there was a moderate attendance. " Question Boi" was tho order of business, in which most of tho members present took part, Four new members wero elected, and the chair was occupied by the President. At the Society's next mooting, four short papers on different topics will bo road. A debate on the question "Is Prohibition Practicable" is being arranged between the Rev L. M. Isitt and Mr W. W. (Jollins, to take place In Wellington at an early dato.

Mossrs Lowes and lorns add to their Masterton Stock Salo for Wednesday, May 17th, 550 lambfl, 150 ewes in lauib, 60 wethers and 4 first clasa sheep doga, The annual election of two Truateee, for tho Masterton Trust Lands, will take place on April 25th. Messrs H. E. Jiton and W. Lowes are tho retiring Trußteos, Nominationa will bo rccoivod on tho 18th inst. Measrn Chamberlain Bros announce that thoy have opened in connection with their branch shop in Queen Street a ladies refreshment room and lavatory, at which light refroshuionts will always bo available. Ladies from tho country viaitiup Masterton will doubtless appreciate the accommodation thus provided. Great preparations aro being made in Wellington for the adventof Fillis' Great Circus and Marvellous Monagerie. For miles round the city, hoardings and fences are covered with representations of animals so fierce and bo lifo-liko that evory passer-by regrets ho is out without his gun, On tho circus ground itself, a j mammoth solid tones, fifteen feet high and enclosing some acres of ground, has been put up, and is regarded with awe and admiration by tho crowds of juveniles who congregate to watch operations over; day.

Mr A, Wi Hogg, M.H.R,, informs us that he has just received a telegram from Wellington stating that Mr Maokay, of the Geological Uopartmcnt, has been instructed to arrango with him to make an early visit to the scene of tho alleged mineral discoveries in the Wairarapa. Within the last few days, at the request of Mossrß West and party, (the prospectors) Mr Hogg haß submitted to tho GoyornmontAnalystseTeralsmallspecimens of different ores, and these havo been found to consist of hematito (oiide of iron) j galena or silver ore, In an almost pure state j and what is familiarly known as " black Jack "or zinc'ore In combination with lead. The lead and ssino oros, it ia stated by the Department, have never before been known to oxist in the Wairarapa, andaro represented to be very valuable. Should they be found in any quantity, it will mean a big thing for the district,

Tho usual wcokly meeting of the PhosnixLjdge.l.O.ti.T, was hold in the Ton.peranco Hall, on Wodnosday evening last, Bro T, Collier presiding. The quartorly reports of officers and Coin, mittecs showod satisfactory progress. The following officers were duly installed for the ensuing quarterO.T Bro. It. E, Hornblowj V.T.—Bro, Geo Wyoth; B.J.T.—Bro, Thos Collier j Sec.—Bro. W. L, Johnstone; F.S.—Bro, William Lenz; T.-Bro,T. Collior; M,—Sis. A, Weavers; Chaplain—Bro. A. Mutrio ; G.—iii», B, Bentley. A committeowas appointed to draw up, and submit at next meeting, a plan for open roeotings during tho winter inoßths, Tho meeting olosed in due form at 9.30 p, m,

A public meeting tras held in the Theatro Eoyal, "Wellinpton, last night for the purposo of promoting tbo movomcat to raise subscriptions through tho Colony for tho erection of a memorial to tho lato Premier, Hon J. Mance. About 800 people were present, including sovoral ladles, A very strong committoo was formed, the proceedings throughout being mo*t onthusiaitic.

Mr Berth Rathbone, of the Bank of New Zealand, who was formerly stationed at Mastorton, is under orders to procoed to Australia, whero ho will occupy a position on the Melbourne stall, Mr fiathbone has many friends in the Walrarapa, and all will wish him luck. At the present time bank lifo on tbo other sifo is by no means monotonous, and the officials are hardly likely to suffer from tnnut to any extreme extent, wo should say,

A "Health Mission" will be com. mencod by Mr Olapham, of the Nolson Sanatorium, on Monday, May 22nd, at the Theatre Hoyal, Masterton. Fifteen talonted artistosaccompany Mr Clapham Bnd givo drawing room entertainments, the proceeds bemij devoted to the assistance of suffering humanity, only baro oxpenses being deducted, Full particu* lars appear elsewhere.

Wanted, from our lady customers, numerous orders tor the celebrated C.B, Corsets ot which we have just opened out a largo parcel. We will forward a pair, post free, for 6/6, from Te Aro House, Wellington, Fon Sale, a splendid lot of Ladies Underclothing, bought very much under usual prices, Night-dresses from 4/D, Chemises from 2/11, Knickers from 2/11. These are (rem the best Home Factories, and are ivondorlul value at To Aro Houso. A New Lot. We have just received from the manufacturers, a first shipment of the " Ideal," all-wool Undervests, for Ladies and Children, and are selling them for wholesale prices at Te Aro House, Posi Fbee. We will sond any quantityof these beautiful goods by parcel post on receipt of order. Prices for Ladies Bizcs 1/11 1 to 6/6, Chlldrens 1/3 to 2/11, May be had in white and plain colours from Te Aro House. _ Showing by Post. We make this a leading featuro in our business. Country customers served at Wellington prices, Wo keep a large staff specially for executing country orders; so send thorn on early. Remember 1 All goods charged town prices from James Smith Te Aro House, Welling. OA.

TlieN.Z, Timessaya"Two dopu. tationa from Pahiatua waited on tho Premier yesterday. Mr Job Vile (Mayor) and Mr McOardle ankcd that a more suitable lite should be chosen for the post oflico there After somo discussion ii was arranged that an attempt should bo made to exchange tho sito selected for tho 'Mangaliao Corner'; meanwhile the erection of tho building would bedeferred, Replying to another deputation, headed by Councillor Dawson, who opposed the application of tho previous deputation, tho frontier said he would continue to refuse subsequent offers of land at the Maugahao junction, but in any case ho would not fo further than th|rorner ol the road in question,