University of South Carolina Libraries
V0L.XLV1I. WINNSBO.RO, S. G, WEDNESDAY, JULY 19, 1898. ~~NO. 49. s> taxes ox state banks ! i ----REASONS POP r H? IR E.-RLY ABROGATION i Trie Spe-< 1? < ' >1. C Iiml -Pj lo I Favur'ol Ihr Kpe:?l o! T-.X s on S :ttt> J Hiiik C'iroul ?tlon I) ltvend ?? th?* j I'uUtd S'H'm S'U?t>t. [From th- Coiiurcs.-ional Record. J The Secretary re^i '<iu rts>lorioni submittal by Mr. Builer. "lirsclveo, That the Committee on Finance Us*, and n :s hereby instructed to report a bill reje.liag all taxes imposed by Congress on i nw circulation of Stat*' banks of is-m? " Mr. lii TLEi:. Mr. President, I pro -1 pcse to discuss this question in a spirit! of perfect fiankut-ss, with no priue of opinion, but with the sole objic: of endeavoring to allorci rtlief to ttie people, and with the hope of securing for it fthat careful consideration so essential to a clear understanding of the relation I it. bears to the economic questions now agitating the country. It, should not | h" rtr>r:tpd hvthe Committee on Finance) W of this body because som? ot its members entertain views iu opposition to ft the principles involved, or to the ends B sought to be obtained. The people jgL want the subject fairly and fully cousidered, and tneir wishes are entitled 10 [Hp^- If ]t were practicable to ask every W male adult in ttie United States whether A in his opinion, the volume of o:ir-cfi>~| ^ rency is sufficient to meeS the reason-1 able demands of business, seven-teutbs, perhaps ei?iit-tentbs of them, would answer in the negative. And if the same persons could be interrogated as to whether, unuer our present iiuaa ^ *nri pnuita ciai system, aicxc 10 <* ^ ble distribution of what currency we | have, nine-truths of them would au-1 swer in tne negative. I mean by a fair and equitable distribution, such a dis t.ribution, as that every noaest man would have it in nis power tcr procure as much money as his credit andcir- , cumstances would jusrily, and he could profitably use in his business aod domestic concerns. SS&, According to our present tiiancial policy the greater part ot the circulation is peri >aieally drawn awav frotu the people and horded ir? commerciai and tinancial ceu;r?.?, to be let out again upon such terms, in suca amounts, and whenever those who 1 ???u, As matters < CUUtiUl it uiaj uvvvi ku?Mv> ? > now go millions of ineu can not get money for their le^itim^te business i transaction?, however good their credit or financial siandingc uecausethe currency is not witnin their reaca, or u , witnin reach, is held witn sucn severs ( legal restrictums as in a lari^e meas-ire to destroy its usefulness. 1 am not one of tncse dreamers who holds th-it there can ever be an equal distribution or wealth until th? nulle- 1 nium dawns upon us, or until intqual itj in intellectual endowments and business qualities is removed, but I do believe uiat the Government may irauc such laws as to give every man t quality ot uppu/tumty in securing lor himself the goods oL this world. J j think 1 can demonstrate tnat this rule j :s not ubser\vrt 1:1 our ex-sting laws. I From a statement of the amounts of I, gold and silver coins and certiucati-s, i " L"n't:J States no\'8S a id oaiional bank |' ' otes, iu circulation May 1. 1892, it Ji to?v \rH4-irrseen that the entire stocii or ; Ss| money "coined and issued" by tne Gov-1' b ernment for tne whole country is $2,-!' H& 241,0%,694, otwhich sum 8627,524,-150j' remained in '.tie Treasury, lravi .g $1,613,572 244 i - irculaUon. The :.mouut j SBHhB of circulation per capita is put down < at $24 72. DiViui.is lh- amount L P| Claimed to be in circulation ($1613,572-' \ 244>amoug our sixty-odd millions or . mt population we should get that lvsuit, | Iff but it is fair to assume that a part of , I? the amount said to be in circulation KK||9f quite an essential part, is hr li ror re- ' BaSil serves in Oanks, audis.uotiu circuli- ' gpp tion. But let Uo concede that v H*ve ' agp $24.72 for each nun, woman, anu in the United States. W What does it. prove? Th i* Ha--1-' m m. j f -woman, and chu'i rias $24.72. No-aiji all. Nobody wot? i i-e simple-mm-ied j; enough to claim luat. There a:e mi- j lions of people who !?<ive not $2 or 2 cent-, much less 824 72 Tn<- staveineut is therefore misleading -in 1 delusive. iln certain sections ui ci.e couutry, in the principal liaa^cn 1 and commercial centers, the per cipi;a ciicutation would reach up iut;? '.he huuureus of dollars, whereas 1.1 oiher sections it will not. amount 10 a hundred cents. To illustrate by my owa county ot j ,n s'Aiirn i!nrnllna: We have i * _/ a population of abcut 5U,UJU, largely agricultural and rural, aud 1 vef1 lure tne assertion there are not 62 per c-jpi tn in circulation auiong ;t:e. people. What is true of thisc >muiuiiity is true of all others similarly situated in ilie South aud West and Ihe Ea=t as well, ? outside of lia-mcui* centers. * Mr. President, tri'j pt-Ofle luve not money enough it> circulation iur rueir . legitimate wants. This fid I waut to etupkas'Z-, however goju their credit, or sound and accep'able their security, or urgent their demands, ihe mon?*y is Tint in the country, is not accessible, or j it accessible, is, I repeat, hedged about j by sujh n-stiaiais of ihe iaw that it may as well not Oe ioexisteuce. 1 kuu*' j the reply to this line of argument is that these conditions are the result not so much of scarcity of circulation as the scarcity of capita), the lack ot confidence, because t^err* ^re not proper ^ inducements t ft'errd t*> attract ciouey, etc. }>ut,sir this is ntith?:r u-Mnole u :r true. Id :nau\ <?i :lit* region? ot tke .*v?u.n aud West, \v? re this stringency exists, itiere is plenty ot capital, but iutle money. Land is capital, and the safest and soundestsecurity. Lw stock, personal ?.\ properly of va rus kinds, oeisoual f > credi\ crops, are capital, but unavaila. '-rjS ole to a great extent, as a basis ol credit, because money is so scarce ana so doar ^ tor seven months oui <>f the twelve tney t cannot r>e utilized. I might cue m my cases within oiy own persouat Kuovvieu^e BL and experience. to establish this prooosition as n<> doubt other Senator-} arouud B&, me can; but it cannot aud will not be |||P denied. H 1 ^rant, you th it i;i t'.e are^l liuaj-ciul centers monev is ahunduui aud rea-'ily obta!ue.'i, but the a<;r cvi.uial p-puiatioD cauuot procure it. except at t?:e m .'St "S. ruinous aud exacting tatc. because the>have uot such security as .s demanded, thereby bavin.' th^ir pr iires* aud cumfort aud leaiumaie development i;rea l> retarded. Aud hi?I in proporsiou a? tftey are tetarded at:ii jestraiued iu the stiiue decree are ail other iudusmts, ni'.cui. manuf ielurus;. audc>mu ercial, L hindered and regarded. ..V.-.I . T .r.vvfvV" mr J* ;s qu.te tee cusaoa: ui our public j discussions 0**1 licaucial topics ?.<> launch i orl'ioio libqubiilous c-u political ecouvmv j ^ and abstract prop*>!i'?us .uui ihe<>:e<. j fefe- acd btloi; i iie practical a pools of itis : jj|L subject. We hear a irreat dsal abou* j the "fuuC-ioas ot mooey," vVtiai $. ^P?*-aioaevy "What, :-rt* ih>% o j ;ci> LThis 13 ail verv lastruo'.ivtf ami iu- J teresting ior cbetriaalres and school aien, j and I would not discourage suo'j discus- t sioys in a proper form, but here we have 1 to deal with an itren'tely p-aotlcil <pies \ tii?o.aii(i rnu-it see< uracil -al fai:'.s a'ld condition* l*> i*ul:*e :mdcoa!rol oar ac- j iion*. Ot cours-.: there are cerian well-re o:n"zod. well defiled ['unda- ' mental principles of fijance which can nevtr be saleiy disregarded iq /laanciH] legislation, but a man of the plaiaes- intelligence an-^ uidersiandinsj knows what money hand what pit-poses it subserves. All m?n may not fullv comorMiend the Tiu'it lac, that in order to attaints. highest usefulness ana be safe andtU'ectual in the hands of the neople, money must have a souid. stah'e. aid reliable bisis. his the du'.y of the lerislator to impart those qualities to it. But his(:u!y dof>3 not stop here. He must see to il that the circulation of money ^oes out to the neople in sufii- s cient volume to satisfy the demauds of s their business, and has in it an element, ot elasticity* to m?et UDt>reseeo ti ianc'.al a evifrunmpc %?? ?.h.<?v flpiip. ; 1 have asserted that oar volu ne of a currency is uot adequate f >r our bmi- t ness operations. I do uot deuy its s souutiuK^s and stability, Ou;. I do d^oy 1 that uuder our preseut laws it his that ^ expansive c ipacity, it I m iy ine that ex- 1 prcssioa, so esseutiJ to progressive la business developments. I believe I am ? safe in say in * that ours is the only oae ^ ol the leading commercial nations or c ihe world where thij elastic feature in t rtle^natioDal currerujy is Wanted. The s Imperial B^nk uf Germany is authorized by Jaw, up^n well-detined conditions a and within certaiu specified limits, to in- t crease its circulation to counteract the c damaging effects of tiaanuial stri igeacy and distress. * The Bank ot England aud the B ink f r.P nra ontxrori ixrith CI fn I > k yjx JL L u.i " > tu 4VMW . .?. privileges, aud so with other national !" system*, while in our ^omparativ-jlv ' yjuuj; country, rapdly increasing ia ? population, material progress and di- p velopment, wiih a proportionae increased deman.l form)Q}y. oar nationil bauks have no such authority to suoply ^ it. Tne Government, reserving to itself f the power to issue currenc/, hal s between the contention* of p >htic.*l par- s ties, the demand an'l req lireui'jats of a the.people on ihe one hand !h<* deuials c of cipitalon the other, and thas trilles P with ihe prosperity and progress ot lis & citizens. I need not here, M'\ Prest- 1 dear, eoter UD>aa discission ot' our oatiooal-bankiu; says em. Ir, is sutH ^ cieut tor my present pup;>se to cmcidn three things ia regard to i'.. It has c iumishe I to the people the .safest, soua J- ^ est, aid most uniform bias curre-jcy ever vouohsaf-d ?o tneai, three run; t esseutial elements ia every system of v bank cu-reno'.; but. it is unstable, inide t quale, and ineUstio, three other qualities s equally important and indispensable. z L;t U3 see if I am correct in this last nronosil/ou. d 2 S:ace th3 pt33ige of lh3 naiiouil- t hankuu> act, tbe amouut of national a bauk circulivLoa has virie i fr?cu yen- to v' year. Ia 0;io"o?r, 1SS2 raac'aeJ h'-rh 8 w:uer mark, an i am ;jied $3G2 S^O,- ? I3t. Oi ll;v :6 i of March, 1802, it t bad faii^u t?$?.72,533,762. i u>s? o! jS190 355 372 iu tea years, vjry nearly t 5200,000,000. This oatrac.ioa is srii; ] on, fatliusr oa i ir- i-?r. vi Miv, s L892, to $i&L0G7,089, and .nust evea- o .uatlv wipe this carreaoy >ut of exis 1: eoc~. <vaii3 our popu! r.i mi is i creas- v i- ? v n.r an:i Vie uetnauu i>r mjre m >aey ? DeitiS accelerated -a that proportioo. I v .hiuk. thsrefj'/e, [ a>u sirs; in 3 iviuj the s unison*! b ink currency is iasufli;iftQt, *j ii'i?tit)!rf. .-.ad ;.Li?i<t<<tic. I do uot forget !.hiit this rtduo'.inu in t'ie aatiooal-bink ' jsirrea.:v has 0 joq ui^su-.'.iblv supplied t t>y Treasury certificates bised on c nu iu j Lhe Treasury?bu1 lis supp'.v, am)uut t iu^ to ab jui $480,000,000, has tut b<*eu a iqual to the coairactio-i aa-J iucreasi :^ fc lemaud. t Ti:e United SUtcs cote3? greenbacks ? ?have recnamed about stationary at l 316.000.000, iu round numbers. If tiie t naiioual-b.iRk currency cdoUjucs to 5 J: ?u ,^ v.Aft^ aiu i-kf IlLLliLllSi: 1 L> UJ 5U ?U uui. ui v. j.. j tsoce and we 3'uU have no pa,'if cur- ? re-jcv except tieTr-a^ury ceriiacatDS E *od irret-nbic'^s. I am sur>i it will uot be H insisted by the most extreme contrac- j[ tioai>t or niouometalli&t that they will 0 prove a leqaate to the w^aats of the peo- t pie. t Great stress is laid upsu the fact that t 90 pi cent, or thereabouts o the busi- e p.ess of the coucitjy is transacted by F checks or drafts or bills of exchange, c and t'ie argument is deduced therefrom that there is uo occasion for a lame u volume ot curreucv. Here aiain, I submit. ii a ?reat fallacy. 1 THm notver to pive a cheefc implies a ? bank account,, a id is limited to thos- } who have m mey to their credit. How ^ many millions of people are there who * have never h*d and can scarcely hop* * to have a b.iQk account? They must 1 have trie cash to discharge their obliga- * turns, the currency t > pas? from hand to tan<!, so that to them a bank is a f s-aled vault, ana is of no use in their 1 daily' transactions, especially it' they t are nor banks of issu-\ and are scuce of currency. c I could produce abundant proof, if s necessary, toshov th ir, the country s binks are not supplied with <:urrtn'-y 1 enough by half or mere than hair, to meet the ?vants of the people who they E could otherwise accommodate. And u furthermore it can be shown that in [ those seasons ot' the \ear, when cnrren-! \ cy is most needed, *tht-y can not pr.> cure it on any terms in sutlieifut qui'!- H lilies. I know this is true in the S > ; h ? <?nd doubtless in the West. If tils ts " admitted, what should Congress do to * correct the evil'? What is the plain E duty of Congress in the premise? It is T~ not a sufficient answer to the cry of 1 distress which comes ur o us from all e directions, to say that ? political party will not do this or -because j! the doing it might give the .jer party L an at vantage in some election. Or e that by failing to adont certain meas- * ures of relief, the party f iiliu^r will ue * Stronger iu particular sections of the v country ? Will it do to answer this ap- ? cea! for relief from the laboring and s icuhistful cl isses. to sty, that it is ^ clamor iusti^ ited uy dera-igo*ues and 1 Riil'iva'td by ambitious politiciansy Tnis would not be wise sti'.esm inslup, c Mr. 1'iesident I-. is not only not wise. [ approacnes very close tj the verge s ;>t criminal nr^le.'t. 1 C A l"6E FOK COM P LAI NT. As a rule tne p.-ople do not c )mp!ain s without a cause, tor thf s ike of com- i plaining. They realize thnr wants and t necessities much better th in is sup- 1 posed. Their cries for financial relief i amount now almost to a lamentation, j * auu it' not heeded and act^d upon will j ; swell into a load and irr-sis'.i^le de-j i mand, which will assert itself in no | t uncertain ni mn-r t* Th- ballot box. VV'iW anrf m.t ?'.i - v.icr.iries mav I r rise to the er-sr ol uit waves of popu- ; lur agitati-w, oat they will b-coine : time and n irmiess t^eoru-s beside the i s'.orm of mdnfuan! protestations which c will press tfiem aside lor more positive i and rad'.i,-il m-Msur-s. e Various pldus of relief have br-rn aad j 1 are being sjg^es'.ei. of them, i I j "link, are mischievous and daneerons, >ut they are all symptoms of das'ise, >f popular discontent, and unrese. rhewcomplaints of the people are net nummary. They are well founded and jased on a deep-seated cause. Our (ijancial system "and policy is defective, unjust, ruinous to large classes of the people. It enables a few centers aud a 'ew persons to set possession of the mrrency and hold it from millions of ,heir fellow-citizens upon their own ;erms. It enables them to hoard the nouev of the country, and shv how nueii of it shall go out, and upon what ,erras. You may say that this will be ;rue under any system, but the iinan;idl history ot this country does not iustain. the proposition. It was never rue prior to 13?>3?when trie national >anking systrm went into operation, md the n-ttioaal government delegated .0 a few persons the power to issue the :urrency for all the people?except ush as ic reserved to itself the exclude right to issue. ' have no war to make on the nationtl banks. I have concedrd their value md advantages. They were valuable lids to the government at the time hey w^re organized, but they have erved their purpose. They have been he pampered pets of the government, >nd after thirty years of existence if hey can not stand alone on their own nerits they should go uuder. The government laid the strong a?rn of its axinar Dower on State banks lor their jenellt. it taxed the State banks out >f existence; it destroyed them for the lene'it of national banks. These laws houl i nuvv be repealed. I assume it can not be successfully irgued that this tax b? Congress oil he circulation of Stite banks is unconstitutional, as the Supreme Court ims held, in the case of Veazy l}.mk vs. ^enuo (6 Wall), that (Jongresi may em?loy the taxing power to destroy?but t is a question of very doubtful constiu-ionaltty, w'fther Congress may u>e hi taxing pjvver solely lor the puri03e ot de$tr>ymg, and without the aising of revenue oeing the incident or ?urpose ?f its exercise. WHAT TIIK LAW REQUIRES. The two sections of the statute unl6r which this tax is imposed are as ollows: Sec. 3412. Every national banking asDciatioa, State bank, or S'.ate banking ssociation, shall pay a tax of 10 per ent. on the amount of notes of any >ers-li, or of auv State bank or State lauking association, used for circnlaion and paid o it by them. Sec. 3413 Every national banking asociation. State bank, or b inker, or asociatioQ, shall pay a tax of 10 per cent, utlie amount of notes of any town, ity or municipal corporation, pud out iy them. I have not examiaed the reports of he Treasury Department to ascertain paether any revenue is collected under he provisions of this 1-w, bat I feel afe ia saying not one dollar goes into tie public Tceisury fro'u triis source. The 1 -iw, as was m ended, has simply riven the objects of taxation out of xisteoce ia tbe iuteres: of the nation,1 oaaks, and nothiuer is left upon i'hich it can opsrate. It is a matter of rave d >ubt in my miud wbe*her Couress may coastiturioaallv do this. B it let than p iss aal let us tarn to hs inquiry as to what would be tbe ef rhn r jnaoi it Haofr^n he nntion-u bdnKsr1 By no me-ins. ihe tendency iu national bankiog asociations is to reduce their currency r circulation to the lowejt po-sibie i nit. If some other security is not rovided for their circulation th^y 11 ist cease to e\"st bv operation ot 14 v vnen the United S ares oonds hel 1 icr ecuritv dre redeemed, arjd the 1 ist of ?-* ? - -i..~ 1 ul~ ,?n 1!iM7 I nesw oeirjme uuc emu pajauic iu i.i i?here is do indication that Conarress vill substitute anything in their ste*d, i ind this currency must therefore evenually be withdrawn from circuit'ion. ?ossibly they may be continued as :a:iks of discount and deposit, but not ,s circulation. I do not see, therefore, iow the repeal of this tax is to all'^ct he national banks. Will it restore the it-ite batiks? Tnis will not necessariy follow, but it will open the door foj heir restoration it' the people of the I tares desire them. My own judgment is !ht; rehabitation it' . he State banks of issue will meet he demands of the financial situation aore effectually and completely than .ny measure that can be undertaken, t would decentralize the tiscal alfdirs if the country, localize them, and iring abrat that 1'air and natural dis ribution of money now d^ni^l under he present system. It would enable very man of credit anl stniin* to (rosure, in his o wn vicinity, the money :ecessiry for his wants. I am fully aware of t.he argum ?11 lS I irged a^amst State banks of issue, and .dmit their force. Among other things t is urged that the currency will not be in/form and on that account incon anient unH r*> to t.hfl hnliierS Of he bank bill?;that "wild-cat" banking vill take tbe place of the present uniorm and safe system of national bankog; that the security for the bank bills fill be inadequate* and insufficient, hereby entailing I jss upon the billlolders; that exchanges can not be safe y made and business in different secions can not be conveniently transactd. Tho^e who advance these argu eats, Mr. President, lose sight of everal important considerations which hould have weijfht in determining so mp jrtant a question. T r* *-'aa u'o-ti thfl c?i rtnoo rvr linei. JLIJ. UiO'J OVl>.UV\y vr*. ks vw? tess of baukiuif h-is made gr^at profess in the last thirty years; business aethods hive been im >roved, and venures then e ate red upon would not now >e tolerated for a day in the busioess . ':cl tiuaacHi .v.>rid Why? First, bense of :nure accurate and superior ;rio?vl-d?y-t fj-con:l, because raiiro-ids iud ihe tttle;rauh nave brought ousiless iu-?n ioo juxtaposition, and the oucn is fei'. from one end of the counry to tseot.her?I nvght say from one nd of the civiiized world to r.ne other -we now have no frontier. Riilroads .nd the lel-graph have obliterated that irld for ".vild cat" banking, and such mterprises would dad neither home lor naoitation icr toeir operauuu i?csi les these general considerations, vny can not the States be trusted to irovide restrictions lor banking as tringent and safe as thos- of the Notorial (J jvermaenc upon national tanks V The same supervision m ly he exer ised, the same or similar rul-s as to eserves, liability of stockholders, th-i me or siuatltr methods for trie proi^c- j 1011 of biii-n >lders, maybe imposed. A'hy mty not the .^tate provide tnat own nouns. >i it nas any, huu n iw , j luh Avll-recu^niz^d solvent bonds as j t, may designate, may t>e us'-d by State j >anks as security lor *.h-ir rircuiation V rtiis woul i have the double elTectot' iiiproviutr the credic of the S;aie. reaming capital for invest.meat within j is own borders, and at the same tim;-; 'umishinff a safe security lor theeir-j rulatio-i necessary for the people. Clearing houses, as now e vployed by j latioaal banks, could be mstituted fjr | >tate banks. They would t-ni'orce trie j ^rearest conservatism ia bank mauaiiejient, and impart to the State; bank :urrency a qua!iry of safety and seeurty that wouid cause it to circulate gen T;uiy w'lfOU'j restrainu >v u.v ? >uu* u t t not? A S* ite could not; aff >rd 10 ! >ermit loose and reckless b-mkiog. j Every sentiment of interest and State pride would forbid. Every consideration of prudence and business experience wouid make such a thing intolerable. 1 cau recall the fact that the bilis of many of the banks of sovtii Carolina and other S:ates, for years prior to year lstfl, pissed current in all parts of the country without question, be cause it was known they were managed prudently and conservatively, and we snouid have a similar exDerienc* if they were revived. liar, Mr. President, 1 a n not so much concerned about the want of uniformity in State-bank circulation. This q uslity, this lack of uniformity, has its advantages, which, I think, outweigh the disadvantages. It would result in bringing the currency baci to the locality from which it emanates, there to be employed by the people in their local wants, and in that way correct the evil to which I have referred of ac cumulating the currency in remote centers, from which it can not be recovered by the people who must have it, except upon hard terms. 1 care not haw much you increase the volume of currency under the present system, this same evil will confront us. ithis same ruinous ebb and flow of money would obtain whatever the volume of currency. For the sake of argu meat I will concede that the Statebank currency may not be uniform, but it will answer for all local business purposes. The insolvent laws, the divorce lawi the inheritance laws, the testamentary laws, the laws of evidence, the jury laws, the crimioal laws, the road and corporation laws, of the several Sta:es are not uniform, and yet the whole country has prospered and progressed unH nnHor thom Th ic t.hiQ I*UU UV ? UUU^li VUUUil AU iw divergence of local State systems and uniformity of the paramount Federal system which gives such strength to our fabric of Government. I, therefore, do not regard uniformity so essential, although I believe a few years of prudent management wouid remove whatever of inconvenience that might arise from this source. But why depend upon State-bank circulation to regulate exchanges between the several States or for the convenience of travel to and from different parts of the country V What is to become of the one thousand six hun uteu UHinuus ui uauuuai uuneutv uuw in existence? Is that to be destroyed by State banks? Why can not this currency be used as at present in the matter of exchanges between the States if the State-bank circulation could not be made available for that purpose? This currency may ?ventu illy, be reduced by the amoun* of the uarional-bank circulation. but that amou uts *o only 8168,000,000. So that. I apprehend no trouble iu conducting our business transactions in the several Spates, not only for the reasons I have just assigued but for those given in another pare of my remarks. SETTLE THE SILVER Q UESTION*. I believe, furthermore, that the rehabilitation of State bmks would set tb all cjQT-roversies over the s'.lv r question. Whether they are reestablished or mt, I have no doubt bat that free silver coinaje nny 09 safely resumed by the a iverameot on the preseot ratio, ani I shouli cheerfully vote r.)'- a b'll for tha* purpose, but I shall not now snfer upon a aiscussion of that, question, further thaa t > say, that in mv opinion, tne importance of free and unlimited coint28 of silver is greitlv ex;iumerited by bith sides of tne controversy. It woald not brin? the r^Hef claimed by its advocates, and w-mld not do til* damage contended for by its opponents. That, good would j reside to the whole b ->dy of the people, T hnve no doubt, and I, therefore, fa- |i vor it. Ii.it that it will relieve the financial stringency und^r which we are laboring, or cure the evils complained of, 1 ?lo not believe. The free coinage of silver would el I n-iate the aistiess very greatly, and do no injury to any fair minded, honest man, 1 care not what form of contract he may have entered into. The suggestion that it would drive sola out of the country or operate as a repudiation of obligations is, in my judgment, without substance or foundation. Whtn State banks were in existence, silver and gnl * coin were used on teruis <JI pfjfiKt:'. equality as scuuiiby for tbeir circulation. Nubody ever questioned their equality, when they bore exactly the same relation to each othf-r, that they do to-day. Xobody inquired, or c.ired to inquire, in those days. So long as the banks had coin, whether of gold or silver, to support their circulation, confidence was assured, and ivhen it became necessary, under financial stres3, to suspend specie paymei.t, no preference was given to the one coin or the other. Mr. Coke. Will the Senator allow me to interrupt him light there V Mr. Butler. Certainly. Mr. Coke. I ask the Senator if we 1 had the free coinage of silver would it not be a great auxiliary to the appliances for establishing State banks in giv- i ing them a coin basis? : Mr. Butler. I am just coming to tSif \fr Pcjctrianf- In mw rtwn Sf~.fl.tft an1 doubtless in others, backs were al- ( lo wed to issue three dollars of paper for one of coin, of gold or silver, and even with this latitude they main- . tained their credit, when prudently managed, and supplied a currency that proved adequate for ail business purposes... Ot course this latitude would not be admissible at che present day; would not be expected, and would not \ be aUo.ved, but a plan of redemption could be required that would make the holders of State-bank bills as secure as the holders of national-bank bills. The free coinage of silver would enlarge the metal money of the CD..nlry, and thus lurni.sh to the bauks whatever of coin mtgbt be required for their reserves, give employment to all the silver that could be coined, and injure nobody. The simple truth is that metallic cur rency is "only til; to be used as a hank reserve or as security for circulation, except so mucu as m ty be necessary for actual circulation, and this amount is ne^ssarily very limited. I repeat, therefore, that the repeal of this t-.ix ami reestablishment of State bauks of issue would settle all controversies over the silver questoi If I could get an intern itioual monetary arraneement so much tbe beUer, but the best, wav to bring about an international arrangement is to restore silifur in Thin n uinfrv to ir.s lfcJ'ltim-ii'e sphere or Ire- atid urjlimited coinage, with full le^.d-teutfer po.ver. THE CASK OF SOUTH CAROLINA. After a discussion of the constitutional aspect ot the tree bank question, Senator Duller procet-d^d: And now, Mr. President, one** more recurring to the queS'lon of thf sufficiency of rhe volume of our currency, permit, me to reinforce my opinion that, it is not large enough by a comparison whi.-.h is s rikiag and conclusive. I; will make this cjmp-insoa m my own i ^':!r<a a* ] urn marc fsiimliar with finari-I ci-tl and business matters there than elsewhere. The population of South Carolina in I860 ^as 291,300 venire and 412.300 colored, the latter slaves. It will be borne in mind that trie c.lored people, as slavrs, had occasion ur opportunity to handle very little money as they were supcor:ed and maintained Dy their own-; ers. It aiso will be borne in mind that almost the entire business of the Sta'e was conducted by the whites, so that the 291,300 white persons may be adopted as the basis for estimating the p-r capita of circulation in that State. The population in 1890, all free, was 1,151,149. Of course, more currency would be required for the latter period than the former, but we tind a strikingly different condition of affairs. Some Li LL1C 31UCC ? itUUlCSSCU A ICtU^l KJI 111" qairv to the comptroller-general of So^th Carolina, requesting him to iutorm me as to tbe amount of bank capital and bank circulation in that State for tbe decades of 1850-00, and 1880-'90, with several collateral questions of not so much importance. Quoting the .-tatements of Comptii ller General Ellerbee, and those of Mr. Thaddeus Street, a prominent merchant of Charleston, Senator Butler summed up the results, as follows: A recapitulation of the foregoing facts shows that South Carolina in 1800, with a population of free inhabiUnts of 291,300 to 412,300 slive, bad 818,000,000 ot b ink capital and $101)00,000 of bank circulation, while in 1890, with a population of 1,151.000, all free, she had only SI,798,000 of bank capital and 8389,065 of bank circulation. I do not pretend that this is the only currency in circulation. The other kinds ot" national currency?greenbacks, gold and silver coin?circulate in that State as elsewhere, but not in quantities approximating 810,000.000. Just how much in addition to the national-bank notes set forth above nobody can accurately estimate, but it is safe to say it will not reach the half the 810,000,000 while there are nearly live times the free inhabitants. Norjdo I claim that the national-bank capital of 81,793.000 embraces all the bank capital in that State. We have about 84,000,000 of State and national u i- I 4-u~ j>io<\nnrinn uauh. capita; a^aiunt. luo .;io,wu,wu in 1860. Now, Mr. President, the simple recital of these facts telis the whole story of the currency famine in the South, for what is true of South Carolina in a greater or less degree is true of the entire section and of the West also. CONCLUSION. I am sure I have not overstated the situation at all. Nor have I exaggerated the real condition of affairs. It cin not be denied that the exigency urg-ntly demands Congressional action, and that som9 measures of relief should b? promp'ly afforded. In my judgement, no greater or more sitisfactory measures of relief could be adopted tiau the repoal of the 10 per cent tax on State b?nk circulation. If tnia is doue I should expect to see a revival of prosp-rity never before experienced. I sheuld look forward witn conadeuce to a long period of contentment aad progress among the people of *11 sections wnicb would redjuad to the happiness of all. It is encouraging tmote that one of the great poii ic 1 p-inies?The Democratic? has,it. Ka re..eul national couvention at Chicago, adopted, as o^o of the plants of its pirty platfcr o, a jroposition to repeal this tax. I should regret to see this made a party question; but it b a most hot-^'ull sign that the parv vhicanal lOJ.OJO majority in the po^uwtr vote at ttie l*sr. Prer'^ential election has emuraced this-^i'.oin itg ;>arty creed and made it ' a promient feature ui' ita party pviioy, A Flood HuDff. Jacksonville, Fia., July 12.?An Oiaia special says tnat a uegro named ' R.)0ert Lirtrin was lyncaed srurilv after noon to-day by the citizens of Citra and vici w y, for ravistnag Miss Fannie Ale . t-r list moad-ty noon, ^ae is a r hue : young lady, eighteen 1 years of ag~, of the bighes social con- 1 nection ani standing. She was return- 1 ing to her ajme near Citra from the 1 postotliice, when Larkin suddenly spran from a thicket, seized the horsa ny the 1 bridle and dragged her from the bugsry. 1 * * MAtof /\f .? AA<?lr<trl ni ^ h/-? I 1> o I LUC puiuuui a. iic iviv ed her into dense woods and in re 1 accomplished his purpose. Four d'f > ferent negroes have since been taken '< into custody by the lynchiag pos*e, 1 but none of them were identified as the assailant. To day Larkin was cap- 1 tured and taken before Miss Alexander, < who at once recognized him, and his ' teatures, clothing and general appearance tallied exactly with the di-scrip- ' tion which she had previously given < L-irkin was at once strung up to a tree < and his body riddled with bullets. It : was a negro who put the nose about ' the culprit's neck when he was swung ' off. Larkin had been a petty thief 1 and allround crook about Ocala for a ( year or two pa3t, and had frequently 1 hoon ?.<-> i?.il nnri?r the name of ' While. The lynching1 is generally iasti- i lied by whites and blacks alike. End of the Crisis. New York, July 12 ?At several ol . the larger banks it was siid to-day that considerable amouats of currency had been received yesterday and again this i morning. One large Broadway bank received yesterday $500,000 in currency and gold fro u the country. Some of the gold was received bae.k Irotn Califoroia. The Fourth National I3iuk received $34,000 in currency yesterday from country correspondent, aad today its receipts of currency by the first exnmAnnto/^ 1 r\ ? 1 Q ^ AflH ux. COO vgutvi j auiuuuivu v * v w ^ with a lot more iu sight. As an indicatiou of easier conditions prevailing it was reported today that many country banks were remitting currency here and setting back some of their bills rcclivable which they hal rediscounted here three or four weeks ago, taking adyaotase, of course,|ot the rebate in discount , for the unerpired time. At all the lar^e ( banks todav it was said that demands , froja out of town customers ior accommodation were lighter than they had Ueeu iVt wCCK3. ly jvy u-.uvva ua-irwa j still report a scarcity of currency, but it i is believed Lbat- the supply will soon be more than fqiul to the demand. he ofler of some of the banks to pay express charges on currency Horn the country has had a very stimulatiu effect 011 shipments to this city. An Oid Ka*cal. Laurens, 5. C., July 14.?A gre*t 1 seDsation bas iust come to light in this county, which has caused "school Com iinssiijuer u4\cupuio tu lcai^u uio uitice and Ike to the West, wheie he should remain, It seems that a short time since that Davenport, who it uv^-r sixry years of age, in iravelicu' over tne county attendia* to his duties, stopped at the house of a farmer by tne name of Fuller, who was absent from home, but whose wire receiv. d ana entertained Davenport. After being in the house awhile Davenport made lm-; proper propo^s t> Mrs. Fuller and tinally arternp! -d t? uiitrige hrr. The woman scr>-amtu aud the old rase 1 desisted and bt-gged his intended victim to say nothiug -ioout it, wnich. sh ; declined to do, and told her hu-jand whrn he came home. Fuller th< u got uffuf TV.? r\? ?r a- t ?? ti . % t Ki ?? aiuri iya?cu^ui j ay cvn fi up ti-iv matter by uaa certain sum or money and agreeing to leave the State, which he has done as above stated. Tlire* Kill. d. Xew York, July 11?A Pan Handle tra-.n killed Mrs. John Gary and her two children at Kicn's crossing, Ind., Sun-1 day evening. I ieby Ilirs back. HE ANSWERS GENERAL FARLEY'S ACCUSATIONS IN GOOD HUMOR. Tho .Junior Senator .4dJuce? Several AAI l.ot-if j t . I? tli if l?p \a Jth#r Wrote >or D.ctatel lbs "Craddock" Charged to II>m by G.jn. Farley* Columaia, S. C., July 14?The following reply of Senator Irby to the late attack of Gen. Farley on him was rrivfin to the nress last nicrht: A few days ago a communication was published in the several daily papers from General Farley, abusing hie for supposed wrongs I had done him. I cannot, engage in a persoaal abusive controversy with General Farley, or anybody else. The pubitc are not interested in such literature, and therefore do not expect, me in this reply to eugage in any such blackguardism. The public, ho wever, have a right to be informed as to the truth or falsity of anv statement of alleged fact that | may be contained in General Farley's article. There are only two statements of moment io the letter as I read it. First, That I dictated to my private secretary an article, which appeared, 'he second week of March in the Augusta Chronicle, Mgned "('raddock," without the consent or knowledge of th- pwson who uses that mm de phone, Second, That I inspired an editorial, which was written by Mr. W. T. Crews, in the Laurensvuie neraia. The lirst charge is as ridiculous as it is false. The idea of a person with a ihimble full of sense forging the name of a newspaper man is laughable in the extrrme; but I am willing that the public should know the whole truth about that "Craddock" letter: Mr. James II. Tillman, a son of Congtessm-tn Tillman, was, about the aate of the "Crad'loc-k" letter, the correspondent of the Augusta Chronicle in Washington, and "Craddock" was his nom de plume. Oo Saturday, just oae week alter the inauguration of the President, Major William T. Gary of Augusta and Mr. James II. Tillman came into my sit'ius: room ^ttbe .National Hotel. Mrfjor Gary said to Tillman that what be had told him a few moments before ought to be repeated to Irby. I asked what it was, and Tillman told the following tale: That he had ju>t left the Metropolitan Hotel, wbt-re he had ha<1 a 'on* couversaiiun with General II L Far lej, who hid rem-tinel iu Wash ugfou siuie inauguration. lie said tr??.L Far ley h*dreail him a 1 -eg abusive commuijica tun ddresscd to the Reformers ..f sinnth i'Mr.ilina ?h.i lAMTItr that. Till man and Irby were unsare, unwise, exrr^me, dangerous leadr.-:-; and that the Reform movement cuuld not be p^r petuated with ur t >r*>*iug them ov?-r board ana pu. i * ?re conservativleadrrsiatru.it. lie asked rillmanfo publish ir. in the Augusta Or.inicle with 'lis (Fa'l-y's) mom de plume, s .y i'ig that tue piecr wuuli attract grrai attention, create ^ er'-at sensation, aod that, at tbe proper aide, be would come nil fc and assume its HUlhorshiD. Till n.an s*>d ;h-s h- refused to publish it unless he wo-'M ailow" trie eauoi vt bio paper lo ku. .v the auttior. He told riilman thai that was theopeni: g gun ?f the campaign nexo year against l'ilim.m's and Irby's Iradrrship of the Reform movement. lie further said tDattne fallowing slate had been arrauzed ana agreed upop: Thit General Hutier was to run for re-elec-.ioc to tne ->?-iiafe, JsMell was t) be sup.jurtnl by the Coi.servatt vrs, or aDt^. and milder Reformers fjr Gjvernor; and hat he (General Fariey) was to run for Jungivtss ia Sbeil's district. H? sua they Wi/Uld like to get faibert mio tne jooibination, but that, it could laoc be , irranged uuless George rillaian would igree to 1-t up on aou suoport l'aibert, iud, in that way, get tbe Conservatives lo support Talbert tor re election. Farley offered Tillman a place on tne ticket as Adjutant and Inspector General it' be would go to bis fath-r and . make tbe arrangements by which he would not oppose buc support Tal- ' oert's re-election. (At this time every 1 ?nein Washington knew that tbe Governor an J Colo el Tillman were noi on speaking tern>.) 1 ask^d Mr. Tillman what bis reply to Farley was. and he said that he told Farley that blood was [.bicker tban water, and he would be }?d if be would go back on his uncle tor Butler or anjbcdy else. I asted turn if this was a newspaper fake or Lhe truth and he replied: To show yuu that 1 mean business I'll publish it in full. There and then tie wrote the piece signed "Craddo;k." [ did not have anything further to do with it; did not see it any more until it appeared in the papers; thought noth ing of it until theiollowing week when I heard him read a certificate frum some one to tbe effect that be (Jim Tillman) bad written and was the author cf the "Craddock" letter. That ni2ht in my room between y and 10 o'clock while I)r. Tope and I were talking, Jim Tillman came in, and I asked hitn to rehearse the whole tale to Dr. Pope, which he did, exhibiting the <-Craddock" letter, and spying that it would go off by telegraph in a tew minutes. As to the piece referred to from the Laureusville Ileraid I can only say that 1 knew nothing of it until I saw it in print. The sutijoioed letter from Mr. Crews on that subject will explain it self. In conclusion, I will ask the pubiic to think of o-e thing only. Why did not Gereral Farley ask of me an explanation, if he believed what he pretends to believe of the assumed wroug I did him. The evident re, son to me *hv he sought no explanation is that, if he had done so, he would not have had the op portunity to abuse me for political purposes, for he kuew had he called on me a satisfactory answer would have been given him, his excuse for denouncing pjc aud his cbance for ingratiating himself with the Conservative ele.-neut would have been lost. I leave it to the public to say whether events subsequent to the fourth of last March h*ve not proved that Jim Til.man told the truth wh-u he c-ime to me with the report of the c inversatioL' between him and G-meral Farl -y. 1 need not give the argument wny 1 r>eli~ve.J.ni Til m-tn told fhetruih,for 1 ftiu S-Itisfisd th If every 0 ie wh<> reads the LeA'sp tpt-rs arid who has watched the turns i;> politics, will sec that tLe e was ruth and lots of it in what Tlllma'i .?a'd. I subm't herewith letters from Dr. 1 'pe. M< rijih", Mr. w T.Grews arid I M j'ir W. L. Gary or uigusta, which! will prove coccia-ivniv that ihecliar - - ! made !>y G?-!; F >rley are lai : This pbilippi. . a ine is but'.: fululluieut ot tirj sctieoi^as concocted iast March. The scheme, however, was aoi-ndt-cl by leiviugout Gover'.-fr Tilman for r^isi.-ns wruch must be ap-1 parent to every s >ii?Ie person. Geii-! t'lairaney reabuLS ujus; x win anus" i Irby and thereby please every Cuq- j rvative in toe state and will threaten j 'I'llltiiHii at:d .-ew his mouth up, ..nl by i praisit g bt.eu wi: 1 get enough Tilimanites 'o beat 5'an\arue Wilson tor Cuu- ' yre>s. With this explanation I have done: with newspapers as a means of adjusting differences. J am, very respectfully. John L. "M. Irby. Xewberry, .S. C., July 11, '03. Hon. J. L. M. Irby, Lauren*, S. C. My Dear Sir: In reading the card of Gen. II. L Fnricy in reference to the pupiication of " a letter signed "Craddock" in the Augusta Chronicle. I am reminded thnt during my stav in Washington the author of that piece came into your room (where I stayed also") "With a eommuninat.i >n in his band sometime dm iug Saturday night, a week after the inauguration of Grover Cleveland. When he entered the room you asked him to rehearse as nea;.y as possible the conversation between him and General Farley at the Metropolitan Hotel that day. He unhesitatingly and promptly told tne following facts: That General Farley had read to him a communication addressed to the Reformers of South Carolina, rather denunciatory than otherwise of Tillman and Irby as leaders of the party, and asked Tillman to have it published in the A'linta Constitution under a nom deplume, saying that as a newspaper man he could have it done under 2.110m deplume and would not have to expose hisfideniity. He told Tillman that if the article took well with Reformers he would come out and avow himself as its author. lie also said that he would give Jim Tillman a place oa a State ticket, to be made up as Adjutant General. Ile(rillmau) further emphasized the fact of his authorship of the "Craidock" letter by reading it to me and by saying that he was on his way to the itl-igraph office on Fourteenth street to send it to the Augusta Chroriicie. He also said that whenever he had communications of thi3 character to publish he used tat nom de plume "Craddock" instead of in-, initials "J. H. T." This informuio:i o-only surprised me but I was horriii-', to tum.K that such things were goiutj on atuung the Reformers, and especially among tae leaders. Senator Irby was also indignant at it, and asked me, who intend a to return home by way of Columbia in a tew days, to see Gjv?rnor Tillman and tell him what Jim Tillman had said, for the reason th*t Senator Irby was afraid the Governor would not see the :?un lay edition of the Chroaiele. In passing through Columbia I went to Governor Tillman's house and gave him the information we had received from Jim Tillman in VYrashington. 1 mat -1 iMs statement to you voluntarily brtuuUde you inust have lorgotten hiitikuew anyihing about it, or you would uavrt *riiteu to in-; aud because H Is due to you and trut 1 illit tue puoiic shouiu kuo-v trie uu.h anl the autaors'np of mis wa?>le u* rer Your friend, Sampson* Pope, This is to Certify that Senator Irby did not dicta"e to me any article signed ' Oraadock," pubiisfjrd in the Augusta Chronicle or else kvnere, and rhatJL kne-v othing whatever of its composition. ,>lr. James Ii. Tillman, to my knowledge, never disavowed the authorship ot the Cradduek le'-ter. Itn-id beeu tated thai Mr. Til;man denied responsibility for a p>.?rt of the latter rellecung upon Mr. F. 0. Cau^nmau, but. Mr. 1'il.DaaQ, 10 disprove ih-*t be UaJ repudiated anypirtof it, suo-ved me and otoem, i Drf-sum. a Dote in the nature of a certificate, in wmju an. Cau^bmau stated tnat Mr. 'iilimao decltred himself the author of the <v icie signed "UraddockM. F. Tigiie. On last Friday, June 30 h. Geueral Farley cime in o the He/alo otlke, and alter being sc. > --?, tne foiloA-inj; convention 100K place Detween myself ai.d Mr Farley. Mr. Farlev?Mr. Crew?, didu't you publish an anicle iu the Heraid the other week in whic'o. you stated t hat I attended an Aliimce caucus ia Sp^rtaaijurg? ami wasn't soaietniu^ said about sharpening Brums daggers !'<>r TilimiD, etc ( Was the article aa editorial or coiiitnauicatiou ? Mr. Crews?There was an article of that nature published intiie llt-ralda wt-ek or two ago, but the Farley mentioned was not intended to appiy to you ?it was Lid Farley. There was al-o something said about "Brutus daggers," and was aa editorial written by uj jr OC11 Mr. Parley?Where did you eM; your information from? Diuu't s me cne here give you the inform-it'.on ? Mr. Crews?No, sir. I got my information from some one of the daily papers. Iam not sure, but I think it "was tbe Greenville Xev\s, and the editorial was based on the intt rmation contained in a dispatcb sent iruui Spartanburg-. Mr. Farle>?I think you are mistaken about getting your information from the Greenville News, as I have npvers^pn anvr.hinor nf that, kind in thp JSVWS. Mr. Crews?Possibly I may be mistaken aoout getting my information from the News, but lam positive that I got it from some of the daily papers. Xo individual gave it to me verbally or otherwise. . Mr. Farley's questioning me in regard to the sourc- of my information in regard to the editorial in question impressed me at the time thai he was endeavoring to extort from me a virtual admission thar, socne one in Laurens had given me the said information, and when he afterwards ahuded to the fac-that he had a personal enemy here who was trying ro injure him. and other such impressions, without directly namina any one, I could plainly see that, his referances wer^ made to Senator Irbv. I then told Mr. F<irlrv dis tinctly and positively that neither Senator Irby nor any one else had ever mentioned the subject to me, and that 1 was responsible for the editorial and the reference to "Brurus daegers,"etc. The above is the conversation which took place between Mr. Farley and wj~self,aswell as I can remember, and the sa'/Stance of what I have written and what was said by us on the occasion referred to can be substantiated bv 'hree other employees io the Herald oflice who heard the conversation. W. T. Crews. i ATKS -i.1 1010EY, (Southern" District of Georgia. Macon, a*., Julv 10, 1893. Sir: Your kt ?-r dat.?-d Julv 8, 18U3, in which you r-Lcl )sed a card published by Ho'i B. L. Farley.is ivceived. Yon request uir- t > tuinisfc jou tor pub;ication a >ia etU'Ut of t'*c s which came vti.hin uay kdovvit-oge i i rt-tfreuC'- to r':e ar'ick pub.iali^i] i^i the Augusta ^nromcie over m*- ssgutture "uiauduck.I haw nointenfiou to wpouSP the c;uise of any of the parties interne 1 in this conTmvery, wi'h all of whom my relations -re *necd:j . 1 yield to what 1 cone iv- to be ujy <bi y arid r*o an act >f simple jasiic to you iu inakiug tee olluwing sta'eiu nt: The article signed ''Cn-ddoek" was not dk tated by you to your private secretary, uor v\ns it s-nt to the Orooicle for publication either by jo-i or your privat? secretary. Diriug my stay in Y\.'n<shi r.crfun T n:vi< nr in inur room-> at the N ruonal Ilotei when a | conversation was had in r-fcre ice to if, and the arucie was re^ti to you in tuy presence by i beaut her before it was Seat fo the Chronicle for public^rioa. Vrry r<-sp?eft'uliy, \V. L\ Gary. IIoij. J. L. M. Ikbt", Uuited States senator, Liareas, 5. C. MOM??????B???????I "great loss of life. T?RR!3!_E WORK OF A CYCLONE IN IOWAFive Eatlre Famine* Blown Away?Man gl-d Remains Found la the Rained Homas?Appilllug Scaoes Amoos the Debris?Sev*r-il Housed Wrecked. Pomeroy, Iowa, July 7.?Fi:ty-three dead. seventy-Gve fatally injured, and 150 with broken limbs, cut and bruises more or less severe. This is what the tornado of last ni^ht accomplished in the matter of casualty. The town of Pomeroy is one complete wreck. There is scarcely a house left standing. A*x>ut Otteen acres of debris constitute now what was yesterday a thriving village. Splinters are all that remain. Scarcely a tree remains. Piles of broken timbers and occasional pieces of furniture are all that can be "ound of what was once the largest building la the place. T?vo hundred and fifcy houses were in all destroyed and the money loss on ihese and their contents is placed at $200,000. The tornado, tor such it ^as, came from the Norihwest. All who saw it agree that iv rraa uui. ui iuc luuuei suape spsuies, bat cirne bounding along the prairie like a huse ball. It was of a dark green color and was accompanied by a terrific noise. Many saw it ^ :m it was far out of town. Those gave the alarm aad some were prepared for the monster when it reached the village. Most of the Deo pie, uowever, oecime panic stricfcen. Taey ran out of their houses and fled up the streets, crying and shrieking till struck by the flying timbers of th8 whirling trees. Tbe cooler ones, especially those who were near to them, made for (wo caves in the Southeast part of the town, Duiit especially for just such occasions as this. Into Dneot these caves collected twenty-five people and In an-" otber one five. All escaped without a scra'ch. It is pretty well agreed that the tornado struck the town about 6:50 o'clock. T-Tiilf on hrtnf fhia if afjo a-jl. i Ma uvut k/ yivL v uaio iv M no /WV/V> 102ly not aad sultry and save for u few small clouds there wa < no evidence of iha approaching whirlwind. Tne cyclone was out of a few min ets duration and was f flowed by a terrific rainstorm which continued at i-nervals more or less Jirou'ttou'. ise nlghr. T'ie pd:h ot tne storm seems to be a'o )ut oae-eighth ot a mile wide and tw. nty miles loog. Tne death list out in i he country i? heavy and many of the ueij:hbo in^ to vns report many casualties. In Fairfi id, in Cherokee Uouaty, the nunher of dead is fifteen. Eght more are reported killed at Storm Like and nanv otner places give notice of one or t wo deaths. It was noi umil nooa to-day that the work of rescue beaan. By that time theM was a ir>od supply ofaociors, not arge enough, however, to care for the w.-uoded. Tbe la-iies ot Fort D>d;e * u. a* nurses and tnere was a planti;ul >upp!y of bedims and food. As "apIQiy as irjTatWo iojcrcJ " mk-a to the improvised hospitals aad -ben mediea1 attnatioa. T .-c buildings A-ere inadequate to ttie needs of the injure J A com pan v of militia from Fort D xl^e brought their tents, and these -vere usea lor nospitai purposes, ?ne hsai of the sua was very great, the theruomnJier rising atioag the nineties. The tents were very hot, and deaths ?mong the iDjured were very frequent. Ttie intense beat made it irapos-ible to K>.e : the bodies of the dead and those ii;ac were riot claimed *>y relatives or trie ids. and by them buried or taken away by noou; were placed in the erave ard by the officials. Forty graves were dag and hl.ed with dead up to 9 o'clock this evening, and at that hour flitting if.nlerns in the cemetery snowed plainly that the work of burial was going on still. The National Bank of Pomeroy was made headquarters cf the relitf movement. Governor B)ies arrived at 4 o'clock and took charge of the whole affair. He was iir3t 'riv^nout over the rums, t&en fie visited tne nospitais ana the morgue, consulted with those who had thus tar directed thinas and then issued a proclamation setting forth the needs of the sufferers and calling upon the people of Iowa to contribute liberally. The Governor said the situation was far .vorse than he expected and assured the people th?.t nothing that would add to their comfort and r.elief wou'd be left undone. There was much trouble in securing coffins and by t.o-ni<rht the supply of the tnnrno ir\ tKo nninlttr Konn thA1*Anith ly exhausted. Hundreds of willing band3 dragged the dead and dying animates, with which the ground seemed to be li erally strewn, to the outskirts of (he town, piled them in the big heaps and covered them with tb? remains o f houses and applied a tor^b. Fully a dozen of these strange bonfires were kept going all the afternoon. Whol-j lamilies were in many instances wiped out'by the tordado, ant. in houses that c mtaioed from fou to eight pers )nes, not more than oue escaped alive. Husbands have been left without wife , or children; children are left orphan? amp"" there are fifteen or more women inJTomeroy to-night who have neitfeef husband or children lefi,. A telegram 'from Fonda states that -frv'e enti e families were blown away at ji'ia, but a full list of the fatalities cannot be had. D. T. Miller is known to have be^n killed. Mrs. Gordon was killed instautly bv the wreck of her house and nothing found of tke family of seven. Xo trace can be found of Edward Sjameut and family of five. They are tupposea to be d-ad. Sam Herein. wife and two children are missing. lis. li'-r^haai was very ill wbea the storm broke. All were blown away and are thought to be dead. Trains arriving from the Eist oa the Illi' O s (J> nira; came idio Sioux City It*.. ni^ni vvi<a all tue ?jla->s iQ the cars broken. Trau.Oien say tba!. tbev raa noa.'h a severe rjau storui. bu? enc/unt* r-d uo yrcaL wind. At, Qxiuiby, a iiitile towa East of Cherokco, miny houses are reported wrecked, aad at least two Dersoas are ka->*n t)have been killed. Taey are M s. Alien Warburton and Mrs. M?>lineaux. When news ciQ De hod from ih? oun'rv it is expected ibat ihe loss of hte svi'l be verv great, as region ibrou^h wfcj:h ths cyclone passed vras ihicaly poi>u'a?e i. W rld'n Supply f Cotton. x uttft., j :?iy o?JLue uo'ai viai. ? iD^ly u? cotton 'or vorld is [ 2,8-6 *'-6 t> -tit s; of whicQ 2,3-5,726 bales Uie Afiieric-iu; against 3274.U73 aad j 2,692 b73 oal-s. respectively laac yts-ir. liecn^oS at nil interior to vus 9 584 j b^iit-s; reCfipt-* ar. piao-H'ioiis 6,770 [ bal.*. Crop in sight 6,452,095 bales.