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zJ * - *z f VOL. XLVHL WINNSBORO, S. C., WEDNESDAY, APRIL 4, 1884. NO. 34. | L THE BLAND BILL VhTOhD TEXT OF PRESIDENT CLEVELAND'S U MESSAGE ON THE SUBJECT. > Ha tbe Flnsrclal Coad.'t'on ol fTountiy at Length?Thlok* lie j MeasureIl'-advi-ed and Dangerous?The j BjII Faulty In Construction. Washington, March 29.?The folk lowing is the text of the President's ?, message vetoing the s*<gniorage bilJ: To the House of Representatives: I ^ return without my approval House bill numbered 4956, entitled ' A:, .let direct, lng the coinage of the sdver bullion held in tbe Treasury and for other nurpo3es." My strong desire to avoid disagreement with those in both houses of Congress who have supported this bill, would lead me to approve-ii if I couid believe that the public good would not ~ - - ' i)e thereDy enaangerea au.u w<ti> ouv/u I action on my part would be a proper discbarge of official duty. Inasmuch, r however, as I am unable to satisfy myself that the proposed legislation :s either wise or opportune, my ccncep\ tion of the obligations and rcsponsiblil ities attached to the great office I hold fnThids t,hft indulgence oi my personal 2 desire, and inexorably confines me to that coarse which is dictated by my reason and judgment and pointed out by a sincere purpose to protect and pro mote the general interest of our people. B The financial disturbance which W swept over the country during the last W year was unparalleled in its severity f and disastrous in its consequences. There seemed to be almost an entire displacement of faith in our financial ability and a loss of confidence in our fiscal policy. Among those who atW tempted to assign causes for our disw tress it was very generally conceded h that the operation of a provision of law I then in force whicn requirea uie guvernment to purchase monthly a large amount of silver bullion, and issue its notes in payment therefor, was either entirely, or to a large extent, responsible for our trouble. * This led to the repeal on the 1st day of November, J r 1893, of this statutory provision. We LJF had, however, not fallen so low in the " depths of depression and timidity, and apprehension bad so completely gained control in financial circles, that our rapid recuperation could not be reason- 1 ably expected. Our recovery has, nev ertbeltss, steadily progressed, and though less than five months have 1 I elapsed since the repleal of the mis Lchievous silver purcDase requiremeui, a wholesome improvement is unmistakably apparent. Confidence in our absolute solvPDcy is to suc'n aa extern > reinstated and faith in our disposi ion 1 to adhere to sound financial me; h?..ds is 1 so far restored as to produce the most encouraging results, both home and -v abroad. The wheels of domestic industry have been slowly ser. in motion, < and the tide of foreign investment has %gam started in our direction. Our : ecoveiy being so wen unaer way uumlDg should be done to check our convalescence, nor should we forget that a 1 relapse at this time would almost surely reduce us to a lower stage of fia3n : rclal distress than that from which we < are-just emerging. I Deheve that if the bill under consid- < eration should become a law, it, would i be regarded as a retrogression froca .1 j. the financial intentions indicated by i our recent repeal of the provisions < forcing silver bullion purchases that it j would weaken if it did not destroy re- i tnrrtintf faith and ftOTlfidenCe 1U OUI sued financial tendencies and that as a consequence oar progress would be ua- i fortunately checked and a return to < our recent distressing plight seriously i | threatened. This proposed legislation is so related to the currency conditions growing out of the law compelling the purchase ' I of silver by the government, that a j )r glance at such conditions and a partial \ i f review of the law referred to may not ' be unprofitable. Between the 14tn day 01 August, low, when the law became operative, arid the 1st day of November, 1893, when i the clause in it directing trie purchase i of silver was repealed, there wtr^ pur chased by the Secretary of the Treas-- < ury more than 168 000,000 ounces of 1 silver bullion. In payment for this ] bullion the government issued Its Treasury notes of various denomina- l tions, amounting to nearly S156,OOO.OCO, ' which notes were immediately added 1 to the currency m circuii-uwu auiuug j our people. Such notes were, by the 1 law, made legal tender in payment of ' ail debts, public and private, except < when otherwise expressly stipulated J and were made receivable for customs, ' taxes and all public dues, and when so * received mieht be reissued. They were < I allowed to be held by banking associa[ * tions as a part of their lawful reserve;?. 1 I -J* On tLcj demand of the fcolders, thtse 1 L treasury notes were to be redeemed in 1 J- gold or silver coiQ in the discretion of * f the Secretary of the Treasury, but it 1 was declared as a part of tbis redenop- ' tion provision "that it was the estab- ' lished policy of the UDited States to ' maintain toe two meiais uu a y<*k.uy with each other upon the present le^-al ratio or such ratio as may ce provided : by law. The money coined from sucb ! bullion was to be standard silver dollars ' and after directive the immediate coin- 1 age of a little less tban 28,000,000 inm nrAriH? H th?f. fiit m 11 I UUL1CCS, luc ian y?vuwv\? ?u?> ? ? ^ of the remaining bullion should be t thereafter coined as might be necessary to have for the redemption of the Trea- ; sury notes on Its purchase, and thnt. "any gain or seigniorage arising from : coinage shall be accounted for and paid into the Treasury." Ibis gain or seign- "i iorage evidently indicates so much of the bullion owned by the government ! as should remain after the usimg of a . sufficient amount to coin as many sian- , rtnllarc !?? ahr?liM i Li OX U QUT^J, UViiati>J MW wuvvt*w I equal io number the dollars representee by the Treasury notes issued m pay- < m iseni of the entire quantify or bullion, i ^ These Treasury notts now outstanding , and in circulation amount to $152 951,280, and although there has been thus far but a comparatively small amount of this bullion coineu yet the so-called guin or seigniorage, as above defiaeci, which would arise from the coinage ot antirii mass has h^n fasilv HSCfr t tained to bt a quantity cf bullion suffi * cient to make when coined 55 156.6S1 }- standard si'^r dollars. fConsiderii g the present intri..s;c relation between gold anJ siiv.-r th*maintenance of the parity better the two metals, as meiitio&ec1 :n 'his i?w, can mean nothing else thar the rsa^tenaoce of?i>?^ : -li'.VV >'> * I tl>l I l| I'llHl ll III I I I I 111 I * I ^e^use cur money in *heir tiaiiv transae- s ^ tions. Manifestly trie raainun^uct- yf ?rnTpSTr^y can o?iy be accomi li*hrd so t far as it is affected by tntse Irt*>ury r note?, and in the *s?imarior. of the v holdcs of the same by fiv?ig 'o such t holders, on their redemption, the coin, a whether it is guld or silver, tImcj they h prefer. It ioliows that while i:? -.erais li the law leaves the choice of com to * e c paid on such redemption to tie aiscie- 1; tion of the secretary of tee Treasury p the exercise of this discretion, if opposed to the demands of tne ho^p^ is c entirely inconsistent with the eff?<":ive t and beneficial maintenance of the pari- i: ty between the two metals. If both p gold and silver are to serve us as money and if they together are to supply to our people a safe ana stable currency, the necessity of preserving this parity is obvious. Such necessity has been repet tecily conceded in the platforms of both political parties and in our Federal statutes. 1- is now here no more emphatically recognized than in the receL; law wnich repealed the provision uuc-r which the bullion now on band was purchased. This law insls.s upon tae "maintenance of the parity in value of. the coins of the two metals and the equal power of every dollar at all times in the markets and m the payment of debts." The Secretary oC the Treasury has f-hf-TAforA fnr the hps?. reasons, not onlv promptly complied with every demand tor the redemption of the Treasury notes in gold, but the present situation as well as the latter asd spirit of the law, appear plainly to justify, if they do not eDjoin upon him, a continuation of buch redemption. The conditions I have endeavored to present may b* thus sumc3Hriz3d: First. The government has purchased and now has on hand sulfieieot silver bullion to permit the coinage ot all the silver dollars necessary to redeem, La ^such dollars, the Treasury notes issued for the purchase of said silver bullion and enough besides to' coin, as gain or seigniorage, 55,156,681 additional standard silver dollars. 'PhuM dm an/^inor arid OCV/UUU* JbUwXV? (UV VUUUUUUUlUg Muv* now iu circulation Treasury notHS issued on the payment of the bullion purchased amounting to $152,951,280. These notes are legal tender in payment of all debts, puolic and private, except when otherwise expressly stipulated, they are receivable for customs, taxes and all public dues, when held by banking associations, they may be counted as part- of their lawful reserves and they are redeemed by the government in gold as the option of the holders. Tbese advantageous attributes were deliberately attached to tbese notes at the time of their issue, they are fully understood by our people to whom such notes have been distributed as currency and have inspired confidence ic their safety and value and have undoubtedly thus induced their continued and contented use as munev instead of anxiety for their redemp*tion. Having referred to some incidents whica 1 deem relevant to the subject, it remains for mo to submit a scientific n'otomant nf mrr nhioff i in<J t.O f.ht4 hll 1 i}t/aWUiOUU \JK UiJ VVjVVWA?rM# ? under consideration. This bill consists of two sections, excluding one which merely appropriates a sum sufficient to carry tne Act into ^ff.ct. The first section provides for the immediate coinage of the silver i.uliioa in the Treasury, which represents the so-called gam or seiguiorsge or which would arise from the coiuagof all the bullion on hand, which gain i>r seieni<?r;ii?e this section declares to be $55155,681. It directs that the money so co:aed or the certificates is sued thereon snail be usi-d in the pay ment of public expenditures and pro vides that if me needs of the Treasury demand it the Secretary of tne Treasury may m his discretion issue silver certificates in excess of sucb coiuage not exceeding the amount of seignior age in said section authorized to be coined. The second section directs that as soon as possible after the coinage of this seigniorage the remamder of the bullion held by the government shall ha />m'ne/1 inrn 1pct?] Standard I silver dollars and that they shall be held in the Treasury for tfce r<demp tion of the Treasury notes Issued in the purchase of said bullion. It provides that as fast as the bullion shall be coined the redemption of said notes shall not be reissued, but shall be cancelled and destroyed in amounts equal to the coin held at any time in the Treasury derived from the coinage provided for,snd that sliver certificates shall be issued on such coin in the manner now provided by law. It is, Wr fiono.-iiailtr 5f! UL? w <: v Cl J U^JIUAVVI ts^.v sa; i section that the ''Act shall not be xvusirued to change existing laws relating to the legal tender character or -" cds of redemption of the Treasury notes issued for the purchase of the silver bullion to be coined. The entire bill is most unfortunately constructed. Xearjy every sentence presents uncerta.ir.ty and invites controversy as to its meaning and intent. The first section i3 especially faulty in this respect, and It i3 extremely doubt; ful whether its language will permit the consummation of its supposed purposes. I am led to believe that the promoters of the bill intended in this sect^n to provide for the coinage of staniard silver dollars, and yet there is positively nothing in the" section to present its coinage in 3ny description of silver coins now authorized under any existing law. I suppose this section was also intended, in case the needs of lheTr-"Sury called for money faster than the seigniorage bullion could actually be coined to~permit the issue of silver certificates in advance of such .nir'.no Hut- ifa iQnffimoo wnnlrt Kppm yuu ivo >I---? to permit the issuance of such certificates to double the amount of seignior age as stated, one-half of which would Dot represent an ounce of silver in the Treasury. The debate upon this secLion in the Congress developed an earnest and positive difference of opinion as to its object and meaning. In iny event, I am clear that the present perplexities and embarrassments of the Secretary of the Treasury ought not to be augmented by devolving upon bim the execution of a law so uncertain and coiif used. I am not willing-, however, to rest my objection to this section solely ou these grounds; in my judguieut sound finance does not commend a further ii.fusion of silver into our currency at this time unaccompanied by further adtqua;e provision for the maintainSince in our Treasury of a 3afe gold reserve. Doubts also arise as to the meaning ai d construction of the second section of trie bill. If the silver dollars therein directed to be coined are, as the section provides, he hPld in thrf Trensurv for reietUD ti.on of Treasury notes it is suggested thai", stric-ly speaking, certificates can ( t oe issutd on such coin "m che manne? now provided by law," because r: f-se dollars are money held in the rr.isury for thi express pur^us^of redeeming Treasury uotes oa demand, unich wouid ordinarily mean that rhey --ere se~ ap^:* for trie purpose of ubstiiutmg tbem for Hies- Treasury note*. Tr y are nor, therefore, held m such a way as to furnish a b.-tsis for certificates accord nig io any provision of easting law, if, however, siivci v.u. "?- r>ni"h'l" ' ill """v"?" IA r V* "* ' ^ .v - >c ion to indit.-ite the cmirvv eristics j i) i lur,-. :<>oS of fhe.-e csr: Ir I bey woe to 03 Trc m the sacee coarse- l siir-. r certitijsi.es m circulation i u u c exisuog laws 'hey wvuid <*c best ? ie receivable only for customs, i:>xc$ i zd ait puoiic dut-s; &i d uudcr tae lac-1i :uto?e of iiiis section it is, to s*y tae iast,ex:reinely douotful whether the i eiuticates it coau :nplatrS would be i i?-<-full7 received evec for such pur- i -0S63. Wcatever else nuy be said of the unertainties of expression m this bill, bey certainly ought not to be tound a lrg-.slation affecting sublets so lm>ortant and far reaching as oar finances > and currency. In statin? ether and more important reasons for my disapproval of this section, I shall however assume that under its provisions these Treasury notes issued in payment foi silver bullion will continue to be redeemed as heretofore in silver or golc at the option of. the holders; and that if when they a: presentee for redemp tion or reujh tae Treasury ia any othmanner, there are in tne Treasury coined silver dollars equal in nominal value to such Treasury notes, then ana in that case, the notes will be destroyed and silver certificates to an equal amount be substituted. I am convinced that this scheme is ill-advised and dangerous. As an ultimate result of its operation Treasury not/>s which are legal tender for alJ debts public and private, and (wbicb are redeemable in gold or silver, at the option of the holder, was replaced bj silver certificates, wbicb, whatever mav be their character and description will have none of these qualities. In an ticipation of these results, and as an immediate effect, the Treasury notes will naturally appreciate in value and desirability.. The fact that gold can to realized upon them and the further fact that their destruction has been decreed when they reach the Treasury must teDd to 1 their withdrawal irom general circulation to be Immediately presented for gold redemption or to be hoarded for presentation at a more convenient season. The sequel of both operations will be a large addition to the silver currency in our circulation and a corresponding reduction of gold in the Treasury. The argument has been made that things will not occur at once because a long time must elapse before the coinage of anything but the seigniorage can be entered upon. If the r?hvsi>a1 p-ffpftta of the execution of the second section of this bill are not to be realized until far in the future, this may furnish a strong reason why it should not be passed so much in advance; but the postponement of. its actutd operation cannot prevent the fear and 103s of confidence and nervous precaution which would immediately follow its passage and bring about its worst consequences. I regard this section of the bill as emoodying a plan by which the government will be obliged to pay out its scanty store of gold for no other pur ? * *? - nnnaf i>?ol JJU3C UiiAU IU iViVD au uuuuuwi??i MVUA tion of silver money into the hands of our people. Tbis is an exact reversal of the policy which safe finance dictates if we are to preserye parity between gold and silver and maintain sensible bimetallism. We have now outstanding more than S338 000,000 in silver certificates issued under existing laws. They are serving the purpose of rnou^y usefully and without question. Our gold rrservv*, anrjountinir to only a little more ttin S100,000,000, is directly charged with tie redemption of $340,000,000of United S'a*.es notes. Wnea it is proposed to inflate our silver currency it is a time tor strengthening our g'uu. reserve instead of depMiog it. I cannot conceive of alonger step to silver monometallism than when we s^ndour gold to bay silver certificates lor circulation, an 1 especially in view of the facr of the difficulties surroundioe: the replenishment of our gold." Tois ieaiis me to earnestly present .the d&Hrabilit* of ranting tu the Secretary of the Treasnrr a belter power than now exists to issue ooeus to protect our gold reserve wt?ea for any reason it snould be necessary. Our currency is in such a confused condition, at a our financial affairs are apt v.c iS3ume at any time so critical a position that it seems to rae such a course is dictated b> urdmary prudence I am not insensible to the arguments in favor of comiDg the bullion seigniorage now in the treausry, and I be lieve it could be done safely and wi^h advantage if the Secretary of the Tre a s ury ban the power to issue bonds at a iow rate of intsiest uoder authority in substitution of that now existing and better suited ;r the protection or tne treasury. I hope a Tray will present itself in tbesear future for the adjustment of our monetary affairs iQ such a comprehensive and" conservative manner as will accord to silver its proper place in our currency; but in the meantime, I am extremely solicitous that whatever action we take on this subject may be such as to prevent loss and discouragement to our people at home, and the destruction of confidence in our financial management abroad. Grover Cleveland. Executive Mansion, Marca zy,ieyi. Porccd to Rcslcn, Washington, Mach 28.?This official announcement was made at the Treasury this afcerooos: "Mr. J. B. Brawley, Sixth auditor of the Treasury Department, today tendered his resignation to the President, to take effect upon theapDOiatmen, and qulification o? his successor. Mc. Braw ley 13 a citizen of MeadviKe, Pa., is a lawyer by pro'esslon. aad was appointed auditor April 19, 1893. Tiis position pays $3,600 per actum. No action has yet been takea on his resignation, and it is not known when it will be accepted. This is the first prominent official appointed by the present administration ?' 1 ? J ITi? waoirvnnfmn i O wuo Lias TCOliiUCU. xtio l^;guauuu in understood to have been forced. For some time past the relations ol lbs sixth auditor and Secretary Carlisle have not been pleasant, aad six weeks a^o, there was quite a scene in Secretary Carlisle's room between the sixrti auditor and the Secretary. Sicretary Carlisle has no;, oeen impressed with Mr. Brawler's exe cutive capaci'y. Tue work ot the sixth auditor's office is far behind; methods employed were not businesMise, and Postmaster General B ssell, Secretary Carlisle and the Pres'dent, six w;eks aso, came to the conclusion that a change was necessary in tbe office. Mr. B-a*k'7 called at tbe Tre'< try Department \esierday and lero-.-l'V teudered ais resignation. T'ie sixih *u litors office audits all tbe accouats of '.he Posv-fdoe Department. I'. is the largest au-i tor's olfies in the Treasury, and is as iargi- as tiie en'-ire Agricultural Department. K-pJa- Hod Marker. Jack oxville, M-trch 27 ?A special to T.< t i'uji-.r Uuixa rrom. Jasper, F. -t. sh\s: Thc-re 13 great exjitemea-. <* Eilaville, a fe?v nnl-'S s-mfh of this place, over the murder of Mro. Laraer, ;a aged woman, a^d M -s Ejsey, a fifteen v(;ar-.?l(i girl. The ?'">ccua ?ud the jiirl ??ere aioile in. tue house last eight. rm- r.tivcr tue g'.rl ^.-as fouod in ro-ul ifi fti' r or fh? h<.?uo?. orgies bfatou'. O-u Mrs. Tamer w;as t unci Ccftd iu : .;e hoJif, lifer beud having ais-> be u bentes io h je!l>. ad ax?. a b^tcnet h a been u^ed oy thn cur jtrer. Am examination. of the body of the girl sho .vs that soe had been ravished. I- is supposed Lharaf'er tae Send bad r.is lust, be >1 vtbe ?iri and tbe old woman, to prevent bis crime being discovered. There is >o clue to tbe murderer, but it is ruppos-u to bave been tbe work of a negro tramp wbo was seen near the bouse at nightfall. Tbe people are terribly wrougat up. ana if lbe murderer can be disco v d J udge L i.ob will dispose of him. j ? * t i i ^ TAKE YOUR CHOICE! > WE ARE BOUND TO HAVE FREE SILVER OR FREE BANKS[ > An Argamant io Favor of S:ate Banks of I?suo?If tho Pe-pn are not Given Free B:** k nliey w.ll !n the End have Free SJJver. [ To th<i Editor of The News and Courier: For several years I have given careful thought to the financial probi lem, and have read the best arguments on ail sides of the subject. I have giyen no less attention to existing political conditions, since in matters ofad l ministration it is necessary to stuay > not only abstract questions, but modifications rendered necessary by the fact that government is a compromise, and that the wise statesman must content himself with doing not what is best, but what is best, under the circumstances. "Abstract ideas, when trua render Governments impracticable, and when false tend to destroy them." Tbe abstract question of money is in itself.a difficult one. Money haa several functions to perform, and for each tbere are requisites sometimes opposed to one another. To be a perfect medium of exchange money must be in great demand, to be in great demand it mast be comparatively scarce. But when too scarce it does not afford a sufficient supply for loaos. In attempt1 ing to secure a volume sufficient to meet this demand for loans, tbe requi' sites of i perfect medium may be sacri1 (iced. Money must also be elastic in ; volume. varying directly with the wants oi' trade in ordar to become a perfect standard of value for different 1 times. A government currency, while it may be a perfectly safe medium of exchange, cannot possess sufficieht elas' ticity of volume. Kigidity gives rise to alternate plethora and scarcity in business centres and disturbs the market for prices and loans. As most of the traffic of the world is based, on credit, any considerable fluctuation of prices of commodities works serious injury. Even in a steady general rise of prices creditors are swindled, while through a ? *- JJ *v> r> y-r Ko *?n i n O/? steauy uecuue ueuiuia uxaj ud uum. All economists concur in the truth ; that the standard of values should be set by commodities, and that money is : merely a measure of that standard. When it fails to perform this duty it becomes a national nuisance. The exiting long continued decline of average prices, measured in gold, uncontest 1 able proof that gold is not following the Jaw of average value, and that unless ' supplemented in volume it cannot be taken as tbe standard. A sllvei stand- ' ard is still more unreliable. At present 1 ut-ither the gold dollar nor the silver dollar is a representative of average values. If all prices have fallen 25 per cent in tne past few years it can be 1 eot-r> rbAt t.hA volume of mon- 1 ej should be increased, both for reasons J or' honesty as of politics. This truth ; may as well be accepted. Those who compare merely the vol ( ume of money lor different times ae- ; gleet a great factor in the problem. The trade or the country is based on one 1 p-irt money and nine pans confidence. : E-ich may fluctuate independently. ! When there is a loss In the stock of confidence an additional demand is ere- 1 ated for money. A dimunltion of 10 per cent in confidence calls for a tremendous proportional Increase in cur- ; rencv. But this increase may be need ed only until confidence is restored, . when it ought to be withdrawn. Government cannot secure elasticity without resort to the Ocala sub-treasury plan, which has so many other oad fea- : tures as to render of no account this 1 good one. ] The problem i3 how best to increase 1 the currency and make it elastic, and vet preserve its true money character. . It must be based on gold, the money of the world. It cannot be exclusively gold, for gold is scarce. It cannot be based on silver at the present ratio, for silver is discredited in the markets of I the world, and the United States are not i strong enough to force the world to re- j ceive silver on the terms offered by the < *d?ocates of free silver. The demand 1 that the United States should i3sue pa- < per money would have been laughed at ] I by all statesmen of all parties from the i Ibpffinnine-of the Government till the remarkable decision of the Supreme Court a fe<v years ago, which in the language of Hugh McCullough changed this representative Government ioto an imperial sovreignty. .No more than the States should Congress make "anything but gold and silver a legal tender in payment of debts." There are six hundred million dollars in silver in the United States today, and this is enough in all conscience. Any further issue of silver will tend still further to deplete tbe treasury of the gold that is now tbe only means of preserving the parity of all the silver and all the paper currency of the Union. The seigniorage bill is but a further is9ue of silver. Instead of prevent-in* a run on the gold in tne treasury it wm < tend to aggravate It, aud will have the < tendeucy to force either a new call for a gold loao or the appropriation of ] gold to a premium, and its withdraw- J al Irom circulation. If President Cleveland simply signs this bill he will be yielding to the call ' for more stlvt-r. If he vetoes it with- ' out icdicating some other relief he will ] still more surely strengthen the hands of the advocates of free silver or of unlimited greenbacks, and the lrrepressibie conflict betweeD good and bad money will oe on. Anyone who has paid attention to the signs of the times will see that only blind fatuity will prevent tne extremist of the West and South combining to sweep away "all the coneprvAtivft forties of the East." The next Congress will be two-ttoird8 in fa vor of frte coinage, or even free green . backs, unless some step is taken to ob- ( vla'e tbis daDger. The tbird step is the repeal of the 10 per cent tax on private bank issues. Abstractly and politically this is the safest course. Ft mav be admitted that for many : purports a bank bill is not as good as a ' gold dollar. Bat if based on gold it may for certain other purpose be as : good as a gold dollar. Tne principle of ; division of labor teaches that univer- ( sal money is not needed to pay local d-hts. Ir a dollar will circulate freely where \ it is intended to circulate, that is : enough. A man is not needed to do child's work. The clearing house cer litotes, representing nothing but priv -,te credit, and even under the b^a of Government so far as it claimed to be rnoDey, went around the littfp tread """it or us uur.y ana saveu *juiuu, i when the siivei on<j. tre gold dol-1 iar andir e sovreign green^cfc and the "perfec? " national baak bill *^ere skulking iu corners. If this bank <\artiflcate was so efficacious iq time of paij^ic, why should not t^e bank's bill bo<f good io tune of confidence? 3 The cry that bam issues/must necessarily te dangerous is met #by the teachif.g of his'-ury showing /what private oanks ct the Middle^^ges did for iouLd money when Governments were issuing clipped and^debased coins and worthless paper. 3^ was t he banks that L made '^Governments honest. Th^re is , do reason todav why tbe bankers of Charleston should not be as Intelligent and honest as their fathers or themselves were before the war. This talk about wildcat currency is absurd. So swift are methods of communication today that a bank would be compelled to redeem its issues or suspend in a month. Nothing but a good bank bill would ever get out of sight of the bank. The advantages of the private bank bill are as follows: It can be based on a gold reserve, whereas the silver dollar will depend on its on value. It will diminish the pressure on national money, and thereby permit the Government to resist Government inflation. I* will^supply a local want within a circle in^Wch it performs every function of moSfey. It wiU serve'as a stock for local loans on property that has no lending value in the great centres, but is thoroughly good security. It will not be congested in the great money centres, but will be confiued within the several States. All objections to it as local money can be met by State regulation, and there is: an abundance of national money to supply all the wants of national exchange. The system of State banks is opposed by theorists who endeavor to secure a perfect money in every respect regardIpsa nf nnlitirMl conditions hv those who ' wish to control all loans and by those who believe that a national currency system is the only safe one. It is op- ' posed no less by the silver kings and miners who see in it no opportunity to ] sell their products at an inflated value ! by those who want paper fiat money, and by those who want the Government to take all business into its hands. A word now of warning. There are . many who wish to secure a safe financial system and will join conservative forces to obtain it. But they feel that the present condition of affairs is not ' just to the producers of the country. s Pnenominally low prices and the want of a supply for loans have combined to run the farmers to the wall, along witb many others. They are determined to have m6re facilities of some Kind for loaus. xney wm iase guuu muucy n < they can get.it, but bad money if they mast. If the question narrows itself down to the issue between the present system and free silver the masses will take the latter every time. Aad the ? masses have lots of votes. The capitalists of the North have the 1 matter in their own hanns now. They can effect a compromise on free banking. But if they blindly set themselves J to work,:to thwart every change they will find that they may be overwhelmed in the deluge of wild financial < schemes. If they refuse to accept banR bills they will be forced pretty soon to take something they detest still more, fc A recent writer in the Forum has ahown that the silver agitation in Colorado and other Western States has become a craze. The necessity of the South are driving its people to ally < themselves with the advocates of more money, whether paper or silver. In South Uirouna tnousana3 or rocK-riob^d Deraecrats who have do use for the 1 Ocala p'atform unite in its demand ? for sliver, because it seems co be the only practical payout of th(.? desert. < Lat Ibeui sec that Ihere is :;notber and a better way. ' A new Congress will be elected this fall. Unless Mr. Cleveland and his immediate counsellors make some com- J promise they will be powerless hext year by veto or any other way to coo-, 1 trol affairs. There will be either free banking or J free silver in the near future. Let cap- : ifiltofo r\ir>a Tho nnlitioul LUJUiOWO uano V/UVIV.V>* Jbuv situation grettly modifies the financial problem. It is wise to do the Dest one { can, and to do it when one can. II. ileaxs Davis. 1 South Carolina College, Columbia S.C., 1 March 24, 1894. ThejState's Pensioners. Columbia, 6. C., March 28.?The , State pensioners will, in a short time, ' receive the annual quota of the pension appropriation. For the past week the slerk of the pension board has been rerising the roils sent in by the various jounty pension boards,and the work is 1 ciearly completed. There are only three nAiimff'aa "I? \f QTMAn QnH C LLIUIC UUUli^ICO JL .LXXl** i?uv? Kershaw?in which a further revision will have to be made before the board jan take final action and order the preparation of the warrants to be sent to each pensioner. From the returns is made up there has been a total in- t jrease since last year of only ten penrioners. The number this year is 2,265, ib against 2,255 last year. The ordinary r ;xpenses,etc., for this year will be paid ' Dut of the amount held over from last pear's appropriation. This wiil in- j jlude about 31,100, the amount of the c 'xpenses of the several ccunty boards. . me per capita pay men o which each , pensioner will receive for tbe year will ' iot be less than S22, and it is all to be paid at once. The warrants are to be sent to the several county clerks of ?nnrt fnr distribution to tne pension- . irs. The following shows the number of ; Densioner3 in each county for this and ast year: 1894. 1893. Abbeville 66 70 A.iken 58 53 Anderson 148 151 Barnwell j>2 56 Beaufort 1 1 Berkeley 18 19 Charleston 45 45 Chester 34 33 ? Ci4S Doesterneld so Clarendon 46 49 % Oolleton 67 64 i Darlington 68 64 Edgefield 105 105 ? Fairfield 59 57 1 Florence 32 31 Georgetown 2 _2 Greenville 164 159 t Hampton.... 42 40 c Horry 35 37 J Kerahiw 45 45 LaiiCiister 64 66 Laurens 75 77 UCAXU^bUU w Marion 93 C8 t Marlboro 36 34 1 Newberry 41 45 1 Oconee 82 85 OraDgriourg 48 51 t Pickens..." 57 54 t Kiciuaiid 42 43 Spartanburg 210 203 Sumter 54 54 ( UVion 75 70 WilMamsburff 35 34 i York 125 120 ( Total 2,200 z,zoo In I BIRMINGHAM, Ala., M^rch 23.? William Iugram, a young 'armer living near Everrgeer, Ala, >vas married last night. Toward midnight, a party of friends surrounded bis house and commenced a serenade, using for instruments tin cans, cow bellsT etc. In- . gram decline so incensed >.hat be spiz ed an axe and running to the door, hurled it into the crowd. The s^arp { edae struct a voung man named Jim Dixon and cleaved his spinal column . producing de tth Ingram surrendered, and is spending his honeymoon in jail. J, r A ROW IN DARLINGTON. AN ARMED MOB WANTED TO ATTACK STATE CONSTABLES. The Gang of the Darlington Gnards Taken from the Armory to Mske the MlJltla Powerless?The Fall Siorr of the At filr. 1 Columbia, S. C., March 29.?There came near being a big riot in Darling- 1 ton yesterday over the raiding of bilnd tigers by State constables. The matter fortunately passed over without bloodshed, but the indications for some time i were for serious trouble. The fircf. br,Ai7n nf t.hft IrnnhlA hprA was about 2 o'clock in the afternoon, when Governor Tillman received a tel- i egram from Dispenser Floyd saying that raids were b^ing made and that a , mob was cn the streets armed with Winchesters. From then on until 9 , o'clock last night the wires between here and DarliDgton were kept hot with telegrams. As will be seen from the ssory pub- ' lished below the mob took the arm3 of rhe Darlington Guards,leaving no arm- 1 ed organization to uphold the law. i Governor Tillman promptly provided i for the maintainance of the law by tel- i pgraphing to Sumter and puttiDg the Sumter Light Infantry in readiness to i jo to Darlington and by arranging for | a special train to take the company to ( Darlington. The full story of the trouble is found in the following telegrams. These are all the telegrams which passed between the Governor and Darlington and Sumter and Charleston. The telegrams are published in the order in wbich they were sent and received and explain themselves: Darlington, S. C? March 28. Constables raiding. Armed men walking streets swearing they will shoot. J. B. Floyd. * ? ro Sheriff: Scarborough, Darlington, S. C.: Columbia, S. C., March 28. I expect you to preserve the peace ind see that, the law is upheld. B. R. Tillman. 1 Darlington, March 28. Fighting sure. Mens with guns iwear they are going to kill. J. P. Kir yen. W. H. Lawrence, Darlington: Wire me bow many constables in Darlington. Keep me posted. 13. R. Tillman. Captain Darlington Guards, Darlington, S. C.: Put your command under orders of Sheriff and preserve the peace. B. R. Tillman Governor. Darlington, March 28. Guns taken away from Darlington Juards by mob. J. B. Floyd. TVirlinctnn. Marnh 28. * Six constables here. Not enough to lold crowd down. Winchesters and ihot guns displayed. C. B. Svfan. Captain Darlington Guards: I bear yonr arms bave been taken by nob. Answer If this is true. si. 13. Tillman. Sheriff Scarborough, Darlington, S. C.: If you do not arrest those resisting i :he law and assist constables in their i work it will be the worse for you. j DarliQjjton Guards ordered to obey ? pour commands. Answer. B. K. Tillman, (iovernor. D. B. Swan, Darlington, S.C.: Sheriff has been ordered to assist you and Darlington Guards ordered to obey :is orders. Do your duty. B. K. Tillman, Governor. Darlington, S. C., March 28. No trouble here and no prospects of iny, ttut a good matured crowd in ;own. I can keep the peace. W. F. Daegan, Mayor. Darlington, S. C., March 28. Telegram received. Have conferred with Sheriff who says there is no danger of breach of the peace and no necessity for ordering out malitia. Henry T. Thompson, Captain Darlingtpn Guards. Darlington, March 28. All quiet. Don't anticipate any t .rouble, If necessary will wire. t George P. Scarborough. f Do J. B. Floyd, Darlington, S. C.: ' Chief constable ha3 been ordered to ^ Darlington. Have warrants sworn out igainst all persons who resisted the ? :onstable3 for riot, conspiracy and re- 0 listing an officer. Attorney General a vill come down tomorrow. Gailiard c vill mate the arrests. B. R. Tillxan. f Dailington, March 28. I On receipt of your "first telegram I e vent to the court house and was in o :onsultation with officers of my com- j naml concerning it, when during my i, msence from the armory a party of v :itizens went there aDd took possession t >f guns. On hearing of it I went to hem and demanded that they surrenler them immediately, which they did. ! now have all the guns back and have ? aken such precautions as will effect- * laliv prevent a recurrence of the inci- * lent." Everything.quiet. t Henry T. Thompson, t Captain Darlington Guards. 2 everything quiet. f At 9 o'clock last night tne Governor j: jot a telegram that everything was j ,hen quiet in Darlington. * c The following telegram was received it 7 o'clock last night. It had evident- . y been written early in the afternoon: L Darlington. March 28 Things look very squally. Threats c )eing made, (i-uos and Titles oemg lisplayed. Have aiied constables all a : can. G. F. Scarborough. i Snenlf. * SU1ITER WAS READY. t When the Governor neard that the e irms of the Darlington company had t >een taken he sent and received the fol- t owing rejegram: IV.R. D--]gar, Sumter, S. C.: ? Can I g-t a special train to carry ' ? - ^ a.? *. _ I unitary irom ^umier <o jjitnuiiiiuu. . answer quick. B. R. Tillman, Governor. i Captain Sumter Li?bt Infantry: 1 Can your company be relied on to < ipbola the law? A mob has possession * )f Darlington. Ans-ver. < B. JR. Tillman, Governor. ? 1 Sum^r.S. C , March 28. ; The Sumter L'g.'it lufnutrv will upic.Jd the law. A. C. Phelps, Captain. Sural er, S. C., March 28. Ye?, sir. W. K. Delgar, S. A. ] IIT T) T? ...I..a, Unrnfat*. Y . JLfc. ijauiic;. ThaLks. Things have quieted down ' ind may not need it. B. ft. Tillman, Governor. Captain A. C. Phelps, Snmter, SC.: J Later advices reDort ihings now quiet 1 it Darlington. If I n^d you will wire. < B. R Tillman. Governor. 1 &aillard ordered to darlington. i Tbe following telegram was sent to Chief Constable Gaillard at 5 o'clock in the afternoon: Take your entire force of constables, armed with Winchesters to Darlihgton tonight. B. R. Tillmav. (rovernor. a trihle alliance. Darlington, S. C., March 29.? Everything is perfectly quiet here now. The Sumter Light Infantry are here, and are quartered in the Guards' armory. There was real y no occasion for their being ordered oul. Sumter, Florence and Cheraw have all sent offers of assistance in case of necessity. A large meeting of the citiztns of.Darl* Lngton, Sumter and Florence was held at the court house this afternoon, at which the followiug resolutions were passed, without a dissenting vote: Resolved, Tnat it is the sense of this meeting: "n: ^ rn a. ^ ? i_ JCitBc. JLLlttb U Illrtirg UUUBO IS UiS castle, and that he is expec'.ed to defend the same aga:23t all unreasonable searches. Second. That in the counties c f Darlington. Florence and Sumter search of private residences, private rooms and private apartments, used by their owners as dwellings and not as places of trade., shall be neither tolerated nor permittee. We hereby pledge ourselves io resist all such unlawful depredations. Third. That the citizsns of Darlhgton, Florence and Sumter hereby mutually pledge themselves to support each 3ther in resistance to all such unlawful icts, and we invite the co-operation ol ill other law-abiding and liber ty-lovlng iit?Z3D8. florence allies. Florence, March 29.?The people ofFlornce have been in a state of excitener" all day, waiting anxiously,for news Tom the "seat cf war." By 6 o'clock :bis motninc: the notice was heard ciickng over the wires, warning Darlington .hat a reinforcement of twenty-fiye constable would pay that town a visit to-day Later on tnere came a telegram from Dariinglon, saying that they expected trouble. Tnereupon a party of citizens n fvnm nn/5 van ^uaLLGIQU a cpcuiai uaui, auu icawuw Darlington at 2:15 p.m. Immediately afterwards a joint meeting of citizens of Darlington, Sumter and Florence coonties was held in the ccurt house. Addresses were made and resolutions read md adopted. At 4 o'clock the Darlington Guards, Lwenty-five in cumber, marched down x> the deopt to meet the Sumter Light [nfantrj; these latter arrived on a special .rain at 5 o'clock, forty-three strong. Dapt. Phelp3 in comraond. The comDaaies then marched together to the Darlington Guards' armory. The meeting of citizens had adjourned ;o witness the arrival of the military, rhey resumed business at 5:15 p. m? idopted further resolutions', listened to spirited addresses and adjurned at 6. nj trouble is expected to occur just iow. The constable have been refused sccommodation at any of the hotels ;bere, and are staying closely cooped at .he sheriff's own house. They did not apDear on the streets. There is no disposition on the pari of our citizens to esiat the majesty of the law, but they propose maintaining the Constitutional ixemptiou of priv&lo dwellings from ua? reasonable searches. mayob dahgan* talks. Darlington, March 29.?There is 10 mob in Darlington nor has there NA AM nn "XT."* AW A Unft A 1 O tX7 A l? jccu tX'.Ly< u uuo uaa u^ucu uician vi my authority. The reports current and ;ent abroad are absolutely without founlation and have been originated and promulgated by irresponsible and evilninded persons from iear or malice. I assured the Governor by wire that there nsls uo row or prospect of one and that [ could keep the peace of the town. The peace has been kept and that, too, by he ordinary number of police on duty. During the constabulary raids which vere made without hindrance or moles ;a!ion, some one circulated the report hat raids would be made on private louses. . Immediately some five or six, >r possibly eight, men got double-fcareled shot guns, and openly asseried hat resistance would be made. The :onstables were than in a difierent part :f the t:wn. I immediately went to the heriff, who accompanied thera'dinjj pary, and asked if there were warrants for he search of private houses. He assured ne that thsre were none. 1 then went o the men who had the guns and tcld hem there was no foundation for the re>ort and to put up their gun8, which pss immediately done. Evervthins [dieted down. A short time afterwards a rumoi was pread that Mr. U. S. McCullough had ared the constables to raid his home ,nd that the constables had accepted his hallenge. Immediately McCullogh's riends rushed for his residendence' on 5eari street. The constables were then m Broad street, and perfectly ignorant f what was going on. On the way to dcCullo'ugh78 house they met McCulough, who assured his friends that there ras no truth m the rumor. Everybody urned back and the guns were again put :d. and all became quiet. A rumor soon spread that the Goverior had ordered out the Darlington Juards. Somebody said good naturedy. "Confound the Guards; we will go ake tbeir guns." A few then rushed o the armory and took out a few of the uos, which were unloaded, and apleartd with them on the street, laughag and joking. As soon as I saw this ; told several that their action might be nisconsirued and to carry the guns back. * L-""4 *it-ir*n ( rv rPhnrv> r 5Afl wK/\ 1UUUI bUio nuiv- vaye* xuvujpgvuj nuv tad been out of his cffica a few minutes, leard about the guns being oat and ordered them returned, which was done. Ill this wa3 a joke ana occasioned no ilarm to any one on the streets not eveo o ladies and children, who duriDg the vhole of it were walkmg about except hat it ofitred the opportunity, too :agerly sought Or by some of the faitbul, to rush a telegram cff 10 the Goverior. I am the peace officer of tbis town md I can keep it better than the sheriff. ,be constabulary or the militia, and I m > - - i .4 i ?;ti i? i j i ,ei a 10 teep ii> auu win uc l'sckcu uy a mndn d good citlz'.ns if I ated them, md when I fill, will call lor aid and lot before. I have assured the Governor, the sheriff, the Attorney General md the chief constable, that I couid and v< Uid keep the peace, but it seems that heGov-rcor, at lea^t, persists in beiiev eg to the contrary. 1 am satis5ed the iherifi aud ii:e chief copstab!* believe it. W. F. Dakgan, Mayor. The W*r :s Ovor. Augusta, Ga. March 24.?Col. D. B. D>er, who was elected colonel of he 6ih Georgia regime, was called on .onight by a com mi tie*. from differernt ;ompanies and officially notified of his jkction. Coi. Dyer was forced on account of business to refuse the office, lod.another man will have to be selectea 'Jo\. Dyer's election as colonel of the 3ecrgia reiment wa3 significant from the act tnat he is a Republican, and was an officer in the Union army. A SUMTER SENSATION. JUDGE BENET ACCUSED OF GAMBLING WITH CARDS" ' "I He Indignantly Danl<? the Charge from the Baccb, and Says He Wu Only Eng*g\ng In a Social Game of Wblit With Friends. Week before last, the Samter Freemao, an Alliance paper that is very much opposed to Gov. Tillman, remarked editorially that Judge Benet of this circuit, who was then holding court in Sumter, was a prototype of Judge Mickey. The Manning Times did not like this, and said some pretty sharp things about the editor of the x icoMigij, wucicu^:?i tac cuiiur ui Ult5 said paper bad the following to say in last week's paper: "Since the Manning Times undertakes to report rumors about the favorable impression Judge Benet has made upon our people here we regard it as essential to truth and to a future proper administration-.of Jus- _ ? tice that we should publish the rumors ofa " different character that are passing around thick and fast. We hear that since Judge Benet has been here presiding in the day time in our Courts he Has been almost ev- :/$ ery nightplaying cards with persons known as professionals. Of course everybody has v ' heard that Judge Benet before his election was a notorious gambler, but since Ms election it was hoped he would try to mend his ways a little. It is distressing to think he has not done so. We know tnat the foreman of the grand jury has had his attention called to this matter and we hope it will be well ventilated before we are through with it We want no gambling Judges." Upon seeing the above Judge Banet in open Court at Sumter last Wednesday morning made the following state* merit: I wish the attention of the members of the Bar and the juros present and the jarora and officers of the Coort con- - cerning a matter which has arisen since the adjournment of Court yesterday. It is a very painful matter, which I cannot well pass over. When I left the Court House yesterday evening and got to my lodging I iuiuiu iu my ixl*u a newspaper, puolished in this town, addressed to me and marked in certain places, In that paper I was openly charged with consortia g with professional gamblers of Sumter and spending my nights card playing and gambling. : The charge has been made against me openly as a Judge. I have no means of redress, except to answer it from the bench as a Jndge. The office I bold deprives me of toe ordinary personal means of redress, and while it is true that office puts in my hands power by which such conduct nugh*. be justly and severely punished, I will not use tnis power in my own behalf. I do say as a true man the charge is false, absolutely false, without even the semblance of truth as a foundation for it. Gentlemen, I feel I owe this state LUcLio lu iuemutrrs 01 Lilt* x>ar, or wuoae profession I am an humble member. I teel I owe it to the officers of the Court, who have been so kind and courteous to myself. I owe it to the jurors who are present and the grand jury who : ,:9 are absent, especially in view of my ^ charge to che grand jury concerning their duty as officers of the law. I ?" Know I owe it to the people, whose-re? presentatives elected me to the office I now hold. I owe it to the good men and women of Sumter, whose kind hospitality I have eajoyed. 1 owe it to the office I now hold, however inefficiently. I owe it to myself and to those who bear my name to say that the man who wrote this charge wrote what was utterly untrue, without excuse and without foundation. I cannot comDre hend what motive lie had: I hardly kno w the mao. I never cross his path, I know no reason whatever for his attack. He must have been shamefully imposed upon by his informant, or he must have wilfully believed lies that -v'S were told him. 1 therefore feel that the only way to meet the published accusation is to do so thus promptly and ' ^4 publicly. I cannot go into the newspapers. I * will not. My hands are tied. Men of : proper sentiments comprehend what I mean by that Good men know I mean by that The best way to meet a false- | hood is to confront it with the truth. And this is the simple truth: that M during the three weeks I have been in Sumter my goings ouc and my comings in have been seen and known by all who cared to see and know. Nothing I have said or done aud nowhere 1 have gone would I seek to hide % from the most blameless man and the purest woman. So far as that is concerned my conscience is clear. Wherever I eDjoyed the hospitality - - A of friends I met good men and good women, aud while in their company I did not see anything that had the appearance of eyil or the suggestion of it. What Drobablv is the ooly foundation for the charge is this?although it seems pitiful that I have to make the statements that follow matters purely of private life. On twojoccasions during these thre e weeks, and only on two oc* fifl casions, I have seen or handled cards. I ??* played whist in company with three other men who are piayera in the pre* sence of ladies for one and a half or two hours at a time. We engaged in ^ a harmless and innocent game of whist with no appearance or suspicion of money or gambling. I owe it to the gentlemen who played - . with me, as they are charged with be ? i li. * ~ lug ?uuie33iuuaigumuitus, w say cuau if they are gamblers the fact is a re velation to me, for I never heard it of them nor have 1 ever seen them gam* bling. This is the only foundation for the charge that I nave nightly been gambling and consorting with professional gamblers. You will suffer me to say that when I assumed the gown of a Judge it was with the honest endeavor and determination to perform the duties of that of- -3 ficeso as to deserve the approval of gooa men ana 01 my owa ~j conscience, and I to say the men who elected me to that office and to the grand jury, if the man who made this | charge can prove the truth of what he says I will take the robe of office off my shoulders and leave the Bencn, as I ouhgtto do. " ~ i But I nave said enough. It is very J true that wnen a iaisenooa starts on its way the truth finds it very hard to overtake it. It may be the newspapers in the State may copy this false accusa- 'S tion. If they do. 1 dope they will also state that I have thus openly, and court- . 3 iag ihvestigation, denied it from the 5] Bench. I have no fear of investigation, if it conducted in the white li*ht of truth and honesty. Having said this I leave the matter in the hands I me gooa peopie or oucnier - . who I-tbink will not allow one wlio i3 comparatively a sfranger to suffer from a faise charge made by one of tiwir fellow townsmen. I leave your town aod county in a few days and when I do so T oh oil t'aal rv?nfi ionf-. Mint. T lftAVH mv character and reputation in good hands. This is my last word on this matter. The Illinois Democracy are discussing the adoption of a new frilL It . >. is the nomination of a United States senator by the state convention.