01 Aug 1896
Page 1
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Newspaper
Bessemer Herald
Location
Bessemer, Michigan, United States of America
Date
Aug 01, 1896
Page
1
C Stuart Patterson argues that laws cannot compel foreign trade and money must retain global purchasing power. He contends one true standard of value, warns against bimetallic divergences, defends free coinage as dangerous to workers, and champions maintaining the gold standard to protect American wages and independence from silver markets.
The Iron Trade Review reports in the Cleveland District that ten days of data from the Lake Superior area show ore selling firms reducing forces and suspending shafts in Vermillion range while stockpiles grow due to light sales. By 1896, mined Lake Superior Bessemer ore may exceed demand as furnaces falter, with navigation near the season end likely forcing buyers to acquire dock stocks. ore chartering is nearly at a standstill and rates remain at 66, 50, and 45 cents from Duluth, Marquette, and Escanaba.
The regular semi annual examination of candidates for teachers certificates for Gogebic County will be held in the High School building in Bessemer Michigan on Thursday August 76th beginning at 9 o clock AM. L L Wincut Co Com of Schools.
The Eveleth Star reports Judge N J Cavanagh and Miss Edith Sharp wed Monday at 5 pm. Cavanagh, from Minnesota towns, previously traveled to Minneapolis before marriage. Sharp taught in Mountain Iron and Virginia and will assist in Eveleth. They plan to visit Wisconsin relatives and start married life in August.
The D S S A Ry announces excursion tickets from select points to Marquette and return for the A C U W reunion. Fares range from 125 to 300 cents and are valid only on July 31 train from Saxon at 8:20 p m and return until the Marquette train at 11:45 p m Sunday August 2. Tickets obtainable at station and ticket agents.
Notice that applications for Pound-Master in the City of Bessemer will be considered by the Common Council on Monday August 3 1896. Gustav L Zrenur City Clerk.
The Chicago Chronicle argues that unlimited coinage of silver would halve the purchasing power of the dollar, hurting wage earners and savers. It asserts silver leaders admit prices would double while wages lag, leaving workers paying more for groceries, housing, and goods despite the same nominal earnings.
The 1892 debate shows free wool advocated across the west and northwest while Patterson New Jersey shoddy mills flourish despite idle locomotive works and silk mills. The tariff now reforms duties reducing from ten cents to fifteen percent ad valorem, placing wool on the free list and also freeing woolen rags and waste while flocks mango and shoddy carry lower duties.
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