Bounding Rates of Exchange Cause High Prices
A historic report notes that exchange rate limits push general prices up while silver coins cannot rise above bullion value. Officials warn that currency constraints distort metal value and commerce.
19 Sep 1896
Page 1
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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Sep 19, 1896
Page
1
A historic report notes that exchange rate limits push general prices up while silver coins cannot rise above bullion value. Officials warn that currency constraints distort metal value and commerce.
Commercial Tribune report from Mexico City details how silver coinage and exchange rates drive higher costs. Merchants pass costs to customers as exchange swings8 points in days. Ed Sumner Gill notes US silver policy risks and impacts on wages, prices, and imports.
Special dispatch reports a Washington standoff style pledge in Ripley Ohio. Wirt Leggett and Dr. Geo P. Tyler agree to shave heads if McKinley remains a factor and to shave again after Bryan’s status shifts, with Main Street as the stage.
County Attorney A E Hough ordered to file suit against ex Treasurer Hugh Colvin for 1416 42 in fees drawn as treasurer which were not due and were illegally drawn in December 1894. The case stems from old fee and salary laws and recent Supreme Court rulings on their constitutionality and retroactivity. The matter will be appealed to the Supreme Court with Colvin contesting.
State Senator W. J. Deboe announces his candidacy for the United States Senate subject to Republican party action and plans to press his claim before the General Assembly caucus in December. Col. Lt. John Boyle, the regular-session nominee, asserts he remains the nominee and will not yield.
Fourteen year old Ray Deering, son of Rev. T. T. Deering of Nicholasville, ran away after his father refused to take him to the M. E. Conference in session at Somerset. His mother, shaken by the event, is ill, and a detective has been engaged to locate him.
A dynamite blast destroyed Mrs. Mary Weisbrodt’s two story residence near the Cincinnati Portsmouth and Virginia Depot at Sardinia. Two families slept inside and only one person was slightly hurt. Temperance activists had failed to drive the local saloon out, with no suspects found. The explosion shook several miles and left no clue to the perpetrators.
The Thirty-Sixth Ohio Army of West Virginia reunion in Gallipolis Ohio ends after three days of gathering. Gen Powell presided as Col Starr praised Hayes. Lucien J. Fenton and Col McIntosh spoke. McKinley wins 100 votes for President. two men are jailed for robbing a veteran $80. Camp fires and a band concert mark the close.
A man named Talbot entered attorney G A Brooks' law office in Piqua while Brooks was away, stole nine blank checks from the book, filled them out, and signed Brooks's name to them. He addressed them to nine business men and fled. Talbot arrived in this city about six weeks ago from Dayton.
Williamstown Kentucky September 18 The man killed by a Southern Express on September 16 and still unidentified was buried this afternoon by order of Judge McMillan.
Benjamin McKinney aged 26 and three companions were rowing on Lake Terra Alta when the boat overturned. McKinney drowned leaving a wife and two children. The other three were rescued with great difficulty.
In Madison County Kentucky on September 18 the daughters of Confederate soldiers arranged to meet in Richmond to discuss a permanent or continuation action. The report notes the assembly as a local observance with unspecified aims and outcomes.
John Lawrence Douglass, buried after a hypnotic trance, was brought from a grave at a baseball park after forty seven hours. Ed win H. Boone, the operator, displayed a cataleptic state and claimed the power could aid surgery. Two thousand spectators watched the dramatic retrieval and Douglass reported no hunger or thirst after release.
Austin F. McDowell of Dublin, Ohio, alleges acids erased his name from his mother Lucy J. Davis's will, reducing his share from five to four in the $30,000 estate. The will, drafted by Albery and Dillon, was probated a month ago. McDowell plans to pursue legal action.
Utter Pope and Miss Etta Moore of Boyle County married in the Mason Hotel parlor Lancaster Ky Rev W Y Ru yken officiating. They came from Danville to attend a party in Garrard. Maud Moore sister of the bride and Lillian Taylor of Louisville attended.
Washington reports amused reaction to Senator Jones and the Bryan Committee claims. Advocates say Wisconsin Indiana Illinois Iowa Ohio and North Carolina leaning to McKinley or uncertain, with Wisconsin cited for large Republican majorities. Letters from William R. Jones and others discuss funders and strategy, arguing for a straight Republican ticket to win North Carolina and defend against Bryan.
Arnold Flesch of Bernard Pasternak & Co. cloak makers lies in a hospital with three pistol wounds. His son William B. Flesch is held in Harlem Court on suspicion of attempted patricide after a midnight shooting at the elder Flesch's Hotel Peteler apartment. The father spoke only of family trouble.
Washington reports Consul Julius Muth describes German actions to curb speculation on Exchanges. A government commission will supervise exchanges and a court of honor may bar participants after trials. Bankruptcy, futures trading, and unregistered dealings face penalties. The law takes effect January 1, 1897.
The first free test of Octave Chanute's Albatross machine, built by William Paul, was conducted at Millers Indiana. With ballast and four 200 foot ropes, the trial checked takeoff behavior, self righting, and controlled descent. The flight under 100 feet landed smoothly, proving the craft safe despite claims of danger.
Acting Governor Burdick reports Wyoming authorities arrested several Indians for violating state game laws at Jackson Hole. Indian police pursue the hunting party, estimated at twenty to thirty individuals with families, to bring them back without trouble expected. Agent Teter ordered to act if needed.
Acting Secretary McAdoo received a Brest cablegram confirming awards for three battleships. Cramp & Sons of Philadelphia will build one at 2,650,000 dollars, Newport News Shipbuilding and Dry Dock Company of Virginia at 2,595,000 dollars, and Union Iron Works of San Francisco at 2,674,950 dollars.
A violent wind hail and rain storm struck eastern Pennsylvania last night, leaving many buildings unroofed and damaged. Across Chester Bucks Lehigh Montgomery and Ly in Hatfield area about thirty houses were unroofed and crops damaged.
Washington dispatch reports W A Shaw named Postmaster at Eldee Sevier County Tenn. Also noted are visits by T D Webb and a Miller couple from Cincinnati. Post offices at White Ohio and Dillingham Kentucky discontinued. Private George Bolton of Company B First Infantry moved from Plattsburg New York to Nashville per War Department order.
In South Bend Indiana on September 18 three armed tramps attempted an assault on Maggie Rebb of Mishawaka near the city east of South Bend. A man named Talien was shot twice in the face and is believed fatally wounded. The trio fled west toward South Bend but two offenders were captured soon after by officers and citizens while the search for the third continues in swampy terrain.
State Shop Inspector Knaub says bakery inspection will wait until the next legislature funds the program. The State Sergency Board has authorized expenditures, but no bank will advance money in the tight market. Two additional inspectors will be appointed only if salaries are guaranteed.
Louisa Sanford sues Pierre Chouteau Sanford for divorce in St Louis claiming abuse and non support since their December marriage. She cites unpaid bills and frequent drinking. his income is listed at 4000 dollars annually. Sanford, once known as Hotson, dates to the Laura Fitts murder prominence.
A Havana dispatch reports Esquiel Murata a Japanese doctor warned the Japanese envoy Weyler profits and misuses supplies while 147000 Spanish troops and 43000 rebels contend across Cuba. Maceo is mobile near Pinar del Rio as Gomez pushes westward toward Jucaro Moron.
Edward Shannon confronted his wife on a Belvidere train and shot her after she refused him. He fired a second time but was overpowered by passengers before he could strike others. The incident caused great alarm among travelers. The murderer is said to be six years old and has eleven children.
Bellefontaine Ohio September 18 Mr John Gauss a prominent local businessman was stricken with paralysis at noon today while at his place of business. His condition is serious and he remains unconscious.
Connersville Indiana reports a wreck when pay car Engine No 11 at 9 am struck Engine No 313 of freight train 95 on a reverse curve four miles west of the city. Conductor George House and engineer Chris Sweetman were killed. Several others injured as trains were cleared by midnight. Paymaster John Jansing survived with injuries and was later taken home to Cincinnati.
Deputy Marshal Groves arrested in Vincennes four suspects named John Johnson Henry Holman Ed Froelke and Claude Bouchie. The last two are twelve and thirteen years old. They were taken to Evansville for Federal Court appearance.
E. J. Mattson, a National Hotel clerk in Minneapolis, died moments before a telegram arrived revealing that his New York uncle had died leaving a fortune of up to 1.5 million dollars to Mattson and his sister. The telegram was dated in New York and the exact share and beneficiary details were not immediately clarified.
Kinkead and Mervin attorneys filed execution against former Ohio Auditor E. W. Poe to recover 960.50 owed on his Capital Sheet Metal Company stock subscription signed a year ago in Columbus.
Lewis C. Fent near Jeffersonville is dying from three bullet wounds fired by his own hand. The self-inflicted injuries followed testimony in a divorce case involving his wife and Jack Driver’s family. Fent recently married Miss Driver in Covington, Kentucky, and was a son-in-law to Driver who died in a mysterious blast in 1893.
Indiana Governor leading a state committee to New York for the presentation ceremony aboard the Indiana. The silver service worth 8000 dollars and Indiana authored library will be delivered to the ship by Acting Secretary of the Navy McAdoo. The journey through Niagara Falls precedes events at Tompkinsville on Monday.
Mob raiders struck again near Springfield and Mackville destroying three toll gates on the Springfield and Mackville Mackville and Perryville and Mackville and Wilisburg pikes. They cut telephone lines to prevent word reaching authorities as county officials do nothing and more gates are expected to fall before raids end.
Senator Ben Tillman of South Carolina arrived at the Berks County Fair in Reading Pennsylvania with escorts but faced a hostile reception. He was booed and catcalled as he attempted to speak about Cleveland and the economy, finally称 stopping after a lengthy address amid jeers and disengagement.
United States prisoners will face stricter release rules as fines must be paid. A ruling by the U S Attorney General ends habeas releases after thirty days if fines remain unpaid, forcing convicts to take the pauper’s oath to escape payment. Warden Coffin reports the order from District Attorney Harlan Cleveland of Cincinnati.
The hot mills of the American Tin Plate Factory at Elwood Indiana closed this morning due to lack of orders. Other departments will operate until stock is reduced, but the company faces permanent closure if orders do not improve.
Portsmouth Ohio reports Tom McKee, once jailed on dynamite suspicions, is again a prisoner after a spree during which he assaulted Special Officer John Lewis who helped arrest him. McKee has threatened retaliation against the officers tied to the original charge.
Canton hosts a massive Republican demonstration in honor of William McKinley with 20 000 visitors and hundreds of cars. Delegations from Unity Township Clin ton Stark County and Columbiana join the celebration as Gov McKinley greets supporters on a lawn decorated with flags lanterns and portraits.
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