Historical Newspapers of South Carolina

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CLEVELA,NJYS MESSAGE. THE FATAL FAULTS OF OUR AWK- cu WARD FINAkNCiAL SYSTEM. l,: State nI'ank-' necomlkt(u.end and thiont ri1 Issue D el& -.secretary Carlisle's s Plan to nenider the c(urrency Ma' 1le: Ible Endorsed by the President. WNSUIN(.TON, Dec. 5.--The follow- 'V ing is a synopsis of President Cleve- t land's Message which was sent to Con- ec gress on last Mondav: To the Congress of the United States: im The assemblage within the nation's t1 lezislative halls of those charged with fr the duty of miking laws for the bene- 2: fit of a generous and free people, i- C: pressively suggests the exactimg obli- 7" gation anid inexorable responsibility d4 involved in their task. At the thresh- ii old of such labor now to be under- ii taken by the Con'ress of the United & States, and in the discharge of an ex ecutive duty enjoined by the Consti- d tution containing a brief statement of a: the condition of our national affairs c and recommending such legislation w as seems to me necessary and expedi- (I eat. -The history of our recent deal- p ing with other nations and our peace- tI relations with then at thistiie ad ditionally demonstrate the advantage d of consistently adhering to a firm but f( just foreign policy. free from envious b or ambitious national schemes and ti characterized b%- entire honesty and C sincerity. During the past year pur- p suant to a law of Congress. comnis- 1 sioners wereoppointed to the Antwerp c Industrial Expedition. Though the 1! paticipation of American exhibitors ti fell far short of completely illustrating< d our national ingenuity and industrial achievements, yet it was quite credit- tI able in view of the brief tine allowed o 'for preparation. , The message treats first of our for- li eign relatiolis and disapproves of the ti situation at Samoa, declaring th.e pres di ent peace to be unstable, and recom mending our withdrawal as soon as ossible from our- connection with t -he affair. He calls attention t.) the i good service of our ships at Rio ie Ja- as neiro, and to the termination of cer- o tain treaty arrangements between this a country and Brazil under the new tar- I iff; also to the signing of a new treaty 6 with China. He comments upon the a danger to our people resident in Chi- A na during the Japan-China war, and T would heed any intimation that our 1 aid wouldbe acceptable in terminating p hostilitites. He~ calls attention to p trade differences with Germany grow- a ing out of our tariff on sugar, and re commends the repeal of the one-tenth tA of one per cent. tax. He reconnnends d the acceptance by this country of the fi awari of the Paris tribunal in the a Behring Sea controversy, and the o prompt payment by this country of the p $425,000 in full payment of alf 'tlains e of Great Britain. He reviews the ii Bluefields incident at some length and v sets forth in familiar m-i.nner our re- c lations with the various foreign pow- p ers. a The President shows a great appre- c ciation of the citizen soldiery of the S several States, and after conimending I Secretary Lanont's plan for reorran- ' izing the regular army. he says: 'rihe t] reports of the militia inspections by un regular army officers show a marked 1 increase in interest and elicncv. p amono the State organizations, and 'Ii strongl recommend a continuance of al the poiy of affording every practical y, encouragment possible to this impor- v taut auxiliary of our military estab- tl lish ment." c< The President warmly commends'S the 'worlk of the Circuit Courts of Ap- a: -peal, and favors the addition of anoth er judge in each district. He also fa- p vors ainited States Court for the In- Ui dian Territory. He urges the settle- 3: ment of the Union Pacific Railroad rr matter by this congress in some w~ay ( that will take the road out of th~e si hands of the receiver as speedily as o: possible. .u The President repeats his former re- oi commendations in favor of govern- si *ment prisons for governmnent..psson~ 81 ers, and everybody will -ei'idorse his ai approval of the Seerfyr of W-ar's re- et commendatia-fiat the present milita- 71 rypr' tEort Leavenworth be over to the government for the di - iriometof Federal convicts. 1e There is no demand for a special pen- se itentiary for members of the army. ( and Mr. TLamont declares that it can be T turned over to the government for Sf other purposes with an actual saving oIf of money to the War Department. ti The President cordially endorses the de recommendation of Postmaster Gen- fc eral Bissell with reference to restrict- to ing or remodelling the law with re- w ference to second class matter in the t1 mails This privilege properly allowed y< by the government for the distribution vi of newspapers to the people, is taken pi advantage of by advertisinosheets and w - by trashy novels, and for tYie distribu- O< tioni of tons of garden seeds, so that .de the Postmaster ~General declares that of if these abuses were corrected there cr would not only cease to be a deficit us in the Postoffice Department. but that th litimate newspapers could be dis- pr tributed through the mails free. w President Cleveland favors addi- sa tional ships and torpedo boats for the chi navy, and the continuing of work on 34 our coast defence. He urges a revision th of the line of the navy. and the passage an of laws that will make it possible for 53 faithful members to receive promo tions that will create a corp)s d'esprit that is now badly needed. The Presi- 'W dent does not believe in pushing the th question of allottments of land to In- 2,: diana too fast, and thinks if old farm- apJ ers are crying hard times, it is not to pa be expected that Indians can begin ua farming and make a living. He agrees to with the Secretary of the Interior m< ' nt the sale of Jands remaining' th r napportionment, until it shall se< have dee'pdby experiment that th the Indians were ready for allottmnent. in; He commends the exposure of pen- ab sion frauds, and it is believed by the di< commissioner of pensions that the vear mi of 1S95 will see high water mark in 10'1 the number of pensioners. After the pr. thirtieth year it is estimated that the ahi number mnust begin to decrease. The eleventh census entailed an expense D< of over ten millions last year. It will 30,. comprise when completed 25 volumes Of of 22,270 pages. The Agricultural rc Department seems to have made sub- 15 stantial savings from its appropriation es1 without detriment to the service. The ce - President concurs in the Secretary's fo: recommendation that the free distr'i- ehi bution of seeds cease. except to experi- bo ment stations, and that the agricultu- fo: ral reports be greatly limited in nuim- th ber. -11 The President stands warnmly to the th support of the Civil Service. He rec- ca commends the appointment of a na- an tional board of heialth and national quarantine regulations. With refer ence to the tariff President Cleveland er; expresses a mild interest in free coal in and iron, and declu-es in favor of D)< striing out the sugar ditferential dlu- Ti. tv which enriches the trust, and enii tlh rrasses our foreign coininerce. ie an is strongly in favor of free ships. 'Tl RECEIPTS AND) DISBURSEMENTS. 20 The Secretary of the Treasury re(- IL ports that the receipts of the govern- co ment from all sources of revenue dur- b-u ing the fiscal year ending June 30. ex 1894, amounted to 5.372802498.29,and ut its expenditures to 5442,605,758.87, th leaving a deficit of 569.803,260.58. th There wasa decrease of $15,952.674.66 pa Lf te MOV-1 Innlt aIS com1palred with the fiscal C: r 1-.:3. Tihere was collected from stems !:;1.S18,53'.62? and amin ti -nal emnue -147,1S.44..7. The J 4ue o h inicome for the year. 1.1 touinmg to k93.815517.5'97. was de- tl ed _ from- the sales of lands and other ei m-ce1s. j 0 T'he vaiU o our dutiale" i'"ports a ounteCd to .299,86, birg 2146S.- 0 7625 less tban durinxg the p)receding e r, and the importatiols free of d- ui amounited to 79795,536, being it 4,74,75 less tian dill ng the pre- I eding year. The receipts from els- e mls were 7 536,4is.11 ltss.and from ternial revenle 813.:I6.539.97 less t .an in 1893. The total tax coeetied t oml distilled spirits was kl5.259.2it).- c ,1ma'nufactured tobacco -2.8*,;17.898-- s and on fermented liquors -.31,414.- c $8.04. Our exports of ;ercIaIdise. a niestic and foreign amtiountited darii- a .g the year to :-S92.140,-572. being an e crease over the preceedillg year of t 4,495.317s. The total aimouit of gold exported V ring the tiscal year was 76, 89) . b a against 810,o)t,444 during the fis- y i year 1s93. The ainouit ingOIrted o as 72.449.119. as against N21,174,381 i ring the previous year. The im- v )rts of silver were $413,2S6.552. and r e exports were *50,451,265. I The tot-l bounty paid uplon the plro- 1 letion of sugar in the United States t r the fiscal year was $12.100.208.89. t ing an increase of ,,2,725,078.01 over t Le payments made during the pre- i ding year. The amount of bounty i id from July 1, 1894, to August 28,. '94, the time when further payments N wsed by operition of law, was $966. 5.84. The total expense incurred in c ke payment of the bounty upon sugar c aring the fiscal year was .130,140.85. t It is estimated that upon the basis of c ie preseit revente laws, the receipts c the government during the current t seal year eiding Juune 3, 1895. will 8424,.427.7-1S.44, and its expendi-i res t444,427.743.44. resulting in a ieit of 820,000.00. SOMETHING ABOUT SILVER. s On the first day of November, 1894. t Le total stock of money of all kinds t I the country was *2.240.773.,8 as f ainst ,'2.204.651,000 on the first day November. 1S93, and the money of t L kinds in circulation. or not inclu- I ,d inl the Treasury holdings, was $1.- t or *24.27 per capita upon c 1 estimated population of ,S.SS7.000. t .t the same date there was held in the resury cold amounting to A44,615, r7.55. ani silver bullion which was rchased at a cost K127,779,988. The archase of silver bullion under the t of July 14, 1890, ceased on the rst day of November. 1S93. and up > that time there had been purchased uring the fiscal year 11,917.658.7S ne ounces at a cost of 88,715,521.32, u average cost of $0.7313 per fine aunce. Tile total amount of silver urchased from the tile that law took 'ect until the repeal of its purchas Ig clause on the (late last mentioned. 'as $168,674,682.53 fine ounces. which >st $8155.931.002.25, the average price er fine ounce being 0.944, The total mount of standard silver dollars >ined at the mints of the United tates since tne passage of the act of ebruarv 28. 1878 is -421.76.,408. of -hich 78,160,793 were coi'ed under e provisions of that act, $838.531.143, fider the pviios of the act of July L 1890, anid zi5,078,472 unlder the act ~ roviding for the coinage of trade bul- 1 on. The total coinage of all metals * our mints during the last fiscal ~ ar. consisted of 63,4S5,220 pieces, liued at $106,216,730U.06, of which ~ tere were 899,474,912. 50 ingold coin. ~ L 8758 in standard silver dollors., U1,24,1.40.301 in subsidiary silver coin ad 716,919.26 in minor coin. During tile calendar year. 1893, the1 roduction of precious metals in the nited States was estimated at 1.739, 5 fine ounces of gold of the conm- r ercial and coinage value of $.35,955,- a 0 and 60,000,.000 fine ounces of ~ ver of the bullion or nmarket value i '46,80000, and of the coinagexval- 0 of 877,576,000. 44i31stimated that 0 ith r' avof July. 1894. the a - of metallic mone~v in the United P ates consisting of coin and bullion.,' nounted to $1,250,640,958, of which - 27,923.201 was gold, and 8t624.347,-C 7 was silver.t Fifty national banks were organiized ~ iring the year ending Octobier 31'.t ;94, with a capital of $5,285,000, and ; venty-nine with a capital of $10,475,- ' 0 went into voluntary liquidation, a venty-one banks, with a capital of b 770,000, wvere placed in the hands .0 receivers. The total number of na- C mal banks in existence on the 31st S e of October last was 3,756, being rty less than on the 31st day of Oc be'r. 1893. The capital stock p)aid in t as 8672671,365, being $9,678,491 lesse an at the same time in the previous ar, and the surplus fund and undi- c ded profits, less expenses and taxes0 .id amounted to $t334,121,082.10, iich was $16,089,780 less than or 0 ~tober 31. 1893. The circulation was a creased $1,741,563. The obligations u the banks to eachl other were in-2 ased $117,268,334 and tile individ- d 1 deposits were $8277,294,489 less, an at the corresponding date in the ~ evious vear. Loans and discounts re m816,206,923, more than at the ti me time the p~reviouas year. aind ecks and other cash itemls were 890, - e. , 963 more. The total resources of 3 banks at the date mentioned t iounted to 8-3463,922,05 as against tI 109,563.284.36 in 1893. t THE ARMY. 0 From the rep~ort of the Secretary of a ar it appears that the strength ofh 2 yon Septemiber 30, 1894, was ti 35 enlisted men. Although this is d paretly a very slight decrease com redl with the previous year. the act- '. I effective force has been increased ti the equivalent of nearly twvo regi. cm mts through the, reorganization of ~ a system of recruitimg, and the con-s juent release to regimental duty of n large force of men hitherto serv r at the recriliting deposits. The rc lition of these deposits, it is pre- ni. ted, will further more effect an an al reduction approximating $8250,. d: in the direct expenditures. besides am >oting generally the health. mnor-1 andI discipline of the troops. Lhe total expenditures for the War p~artment for the y-ear enided June se 1894, amounted to $856039,009.84. of this sunm 82.000.614.99 was for sala- mi s and contitngenit expenses. $i23.6(65, -h 116 for the~ support of the military et ablishmenit, %5,001,62.23 for nuis- it laneous objects and 825,37L.555.i'6 t1i Spublilc wS.orks. This la'mter sum in- 1) ides 19,494.037.49 for ri cer and ha- re r improvements and $83.947.813.56 ta defense. The appropriaitions for dl currenlt year aggregate. 85.:~429,1- n iSecretar' of War for the next fis- tib t ear caill for' appropr)itions to lount'ingf to 852.:318,629.55 P OTAL U. oPER~AT10Ns.1 lte report of the 1'osuti'er Gen'i- C d l preCsents a comprehesivei~l.& state- at 't of the oper'ationls of the P'ostoficee to patentt for the( last tiseal year. pt eC reeipts of the departmetnt duing is: ear amounted to t875,080,.479.O4 5 d the xpend~itires to.884,3I24,44.15). te tansactionis of the postal se'rice th licate with bai'omietic 'er'tainlty the ac .etuations inl thle business of the om untrilv. Ina~smuch,'li ther'efore, as re2 lUsn ecomplicationms 'onlitied1 to in~ ist throughouit the last yeai' to an to foreseeni extent, it is not suirprising it tihe deficiener of revenuett to meet weC a expenditur'es'of the Poistohice De-'t iie at about b8.000.000. shrmu be zeeeded by nearly *1.250 l,0. The total iinuber of postolices in Le United States on the 3:,t dIv of ne 1894, was n. n horase f 4,13 over t1h precedil.r year. . iese. 3.428 were P resdent1a. :1 in ease :in thit class of sixty-eih Veer the preceding year. Six huimrel ad tell cities and townis are pronded -iti free deliverv. Nimity-three Lwr ties and towns entitled tothlis serviWe nder tl.1 law have not been accorded on1 accoilt of inIsuitciint fmui. he expense of free delvery for the La'rIt tiscal eVar wVill be more than 12.:su).000. 1an'd underexi;sting." leg(isla on this item of expenditiire is subject constant increase. The estimated ast of rural free delivery generally is very large that it ought not to be Oisid'ered inl the preseit condition of tIirs. During the year S:'W addition 1 domestic money order oflicc-s were sablished. The total number of iese oflices at the close of the year 7as 19,264. There were 14,304,041 ioney orders issued during the year, eing an increase over the preceding ear of 994,306. The value of these rders amounted to 4138.793.579.49. an icrease of Z11.217.145.S4. There ere also issued during the year postal otes amounting to $12,649,094.55. )uring the year 21S international ioney order' offices were added to > those already established, making a Mtal of 2.625, of such offices in opera ion June 30, 1894. The number of aternational monev orders issued du r ag the vear was 917,823. a decrease in umber of 13S,176, and their value ias 1:.792.455.31, a decrease in mount of .2.549,3S2.55. The nuber f orders paid was 361,180, an increase ver the preceding year of 60.203. and heir value was 86.568.493.78, an i rease of 1., 2S5. 118. 08. From the fore oing statements it appears that the Dtal issue of money orders and postal otes for the year amounted to $165, :35.129.35. The number of letters and ackages mailed during the year for pecial delivelv was 3.436.97o. The pecial delivery stamps used upon ese letters aid packages amounted o $343,697. The messengers' fees paid r their delivery amointed to $2s1. 09.70, leaving a balance in favor of he government of $82.487,30. The re ort shows most gratifying results in he way of economies worked out with ut affecting the efficiency of the poe al service. There are now connected with the ostoflce establishent'32.61 employees ho are in the classified service. This nludesmany who have been classified ipon the suggestion of the. Postmaster eneral. He states that another year's xperience at the head of the depart uient serves only to strengthen the onviction as to the excellent working f the cilvil service law in this branch f the public service. PUBLIC LANDS AND PENSIONS. The public land disposed of during lie year amounted to 10,406.100.77 cres. including 28,876.05 of Indian ands. It is estimated that the public [omain still remaining amounts to a ittle more than 6".00.000.000 acres. ex luding, however, about 360.00o0.no0 cres in Alaska. as well as military eservations and railroad and other elections of land yet nadjudicated. lie total cash receipts from the sale f lands amounted to 2674,285.79. in luding $91,981.03 receied for Indian :mds(1. Thirty-five thlousandl patents ere issued fo Indians on allotments f their holdings in severalty. Thme imd so allotted being inamlienable by be Indianm allottee and for a period of went-five years after paten;, there ere certified and patentedl on account f railroad and wagon roadl grants uring the vear 8635.556.45 acres of nd, and 'at the cdoss of the 'ear 29,000,000 acres were' em - raced in the lists of selections by rail nd and wagon road companies and waited settlement. The selection of wamp lands and that taken as indem ity therefor since the passage of the et' providing for the same in 1849 mount to nearly or quite S80000,000) res, of which 58.00.000 have been atented to States. Abut 138.000 acres ere patented during the last year. Eeralv 820.000 acres of school and edu tion'al grants were ap~proved during 1e year and at its close 1,250,363.81 res'returned unadjusted. At the close of last fiscal year on 1e 30th of June, 1894, there were 969. 14 persons on our pension rolls being net increase of 3.532 over the num er of reported at the end of the p~revi us ear. These pensioners may be assified as follows: Soldiers and ilors, survivors of all wars, 753,968. idows and relatives of deceased sold rs 215,162army nurses in the war of e rebellion 414. Of these pension s 32,039 are surviving soldiers of dian and other wars prior to thme late. vil war, and the widows or relatives f such soldiers. The remainder. num ring 937,505, are receiving pensions a account of the war of the rebellion ad of these. 469,344 are on the rolls der the authority of the act of June r, 1890, sometimes called the depen ent pension law. The total amount expended for pen ons during the year was $139,804,461, aving an unexpended balance from i sunm appropriated of $25,205,712. he sum necessary to meet pension penditure for the year ending June ), 1896, is estimnatell at $140,000,000. The Commissioner of Pensions is of me opinion that the year 1895, being C thirtieth after the close of the War the Rebellion, must according to 1 sensible human calculatioii see the hest limit of the pension roll. and at after that year it must begin to ecline. Thme claims oending in thme reau have decreased more than $90. - 0 during the year. A large prlopor m of the newv claims filed are for in ease of pension by those now on the ills. The number of certificates is ed was 80.21.3. The numbers of unes dropped frenm the roll was .213. The names dropped from the hs for all causes during the year imbered :37951. Among our pien ers are ninewidows andl three ughters of soldiers of the Revolution id forty-five survivors of thme war of THE BOND IssUE. Duriig the last month the gold re rved in the Treasury for the p)ur1pose redeeming the notes of the govern ent circulating as money in the mnds of the p~eople became so reduc 1 and its further depletion in the ar future seemed so certain, that in .e exercise of proper care for the iblic welfare it became necessary to p~lenish this reserve and thus main in popular faith in the ability and -termination of the government to eet, as agreed, its pecuniary obliga mf. It wouild have been well if ini is emergeaey autthority had existed issue the bonds of the government -ring a low rate of interest and ma ring within a short period. PBut the >lgress hiaving failed to confer such tthority,. resort was neceesari ly had the Resumption Act of l 75 and mrsuait to its prov)\isionas hondts were~ med drawing interes~t at the rate of per cenlt. peri aunn and mma uring n \year atter thmeiir issue, that being e sortest time authorized by\ the t. 1 am glad to say. however. that tthe sale of these bonds, thle prei~(fium eived operated to redue the raw& ofi terest to be paid by the govermnient less than 3 per' cenit. Nothing couild be worse or furtheri~ moved from sensible finance than e relations existing between the cur ,-ey the-ovenment has issued, the old held for "is dI ptioii aid the nIans Whf1h nimust be resorted to for he pmapse of reph-n: sh ing suchi re demp in fud whilen M aimred. Even iAt^ eaisuo this'. fund wvere Conl fined I th. ob..iigations origiailly in wewh-'d :tril i f the reemption of these bligains mte:!t tlieir caincellali on. thre Ind wouldt b very small. But the! obligatioins wvien received and ride -ime in1 gold are iot cancelled but are re ie;C and nmay do duty many ;i:ies. by drawing gold from the Treasury. Thus we have an endless chain in operation. constantly deplet ing the Treasurvs gold and never near a finli rest. As if this was not bad enou01g1M. we have by a statutory decla rationt that it is the policy of the gov ernm ient to maintain the parity be twec,-n gold and silver. aided the force and momentum of this exhausting a id added largely to the cur renric" oligations claiming this pecu liar gold redemptiol. Our small gold reserve is thus subject to drain from every side. The demands that increase our <langer also inrease our danger also increase the necessity of protect ing this reserve against depletion. and it ismost unsatisfactory to know that tihe protection atforded is only a teni porary palliative. It is perfectly and palpably plain 1 that the only way under present con ditions by which this reserve, when dangerotisly depleted. can be replenish ed is through the issue and sale of the bonds of the government for gold and yet Congress has not only thus far de elined to authorize the issue of bonds best suited to such a purpose, but there seeis a disposition iii some uarters to deny both the necessity and power for the issue of bonds at all. I can not for a momant believe that any of our citizens are deliberately willing t thattheir goverinment shoul (k-fault < ill its pecuniary obligations or that its financial operationssliould be reduced to a silver basis. At any rate I should not feel that mV duty was done if I ominited ary effort I could make to avert such acalamity. As long, there tore. as no r'ovisioni is made for the final redemjption or the putting aside of the curraicy obligation now used 10 repeatedlV and constantly draw irom the government its gold and as ] long as no better authority for bond < issues is allowed than at present exists, such authority will be utilized when ever and as often as it becomes necesary to maintain a sulicient gold reserve and in abundant time to save the credit of our country and make good the fin ancial declarations of our government. THE PRESSING QUESTION. Questions relating to our banks and currency are closely connected with the subject just referred to and they also present some unsatisfactory fea tures. Prominent among themt are the lack of elastioitv.in our currency circulation and its frequent concentra- j tion in financial centers when it is most needed in other parts of the country. The absolute divorcement of the government to the currency of the country is advisable. This con dition cannot be in ediately reached;. but as a step in that direction and as a means of securing a more elastic and obviating other o'bjections to the pres ent arrangmnent of bank circulation, the secretary of the Treasury presents in his report a scheme modifsving pres ent banking laws and providing for the issue of circulating notes by State banks free fronmtaxation under certain< Iiitations. The Secretary explains his plan so pianinly and its advantages3 are developed by- him with such re miarkable clearness that any effort on my partt to present arguments in its support would be superfluous. I shall therefore content myself with an un qualified endo rsenment of theSecretary's proposed die niges in t he laiwand a briief and imperfect statement of their prominent featres: it is proposed to repeal all law~s providinig for the deposit of Uni-t ted States bonds as security for circulation. to per-mit national "banks to issue circulating notes not exceeding in amount 75 per cent. of their paidl up andl uinimpaired~capital, provided they deposit with the govern nent as a guarantee fund in 1 United States legal tender notes anid including treasury notes, of 2 1890, a sum equal in amount to 30 peri cent. of the notes they desire to issue. this deposite to be maintained at all , times, but whenever any bank retirest any party of its circulation a propor tionial part of its guarantee fund shallt be returned to it to permit the Secret ary of the Treasury to prepare andc keep on hand, ready for issue, in case an increase in circulation is desired, 1 blank national bank niotes for each bank having circulation, and ;to1 repeal the pr-ovisions of the 1 present law imposing linmitations and restrictions upon banks de-t esiring to reduce or increase their circulation-thuts periiting such in-e crease or reduce of reduction within t the limit of 75 per' cent. of capital to b quickly made as emergencies arise.5 InI additional to the guantee fund re-s quied it is proposed tolprovide a safety , fund for the inunediate redemption of a the circulating notes of failed banks c by imposing a small annual tax, say d one-half of t per cent, upon the av-er-b age circulation of each bank until the fuud amournts to 5 per cent. of the e total cire alation outstanding. WVhen b a bank fails its guarantee fund is to be paid into this safety fund and its h~ notes are to be redeemed in the first e instance from such safety funds thus a authorized: any imp~airmnent of such h furd caused therebyx to be made good ri fromr the inunaediately available cash 14 assets of said bank and if these should a be insaiflicienit such impiairmlent to be o, made good by pro rata assessment h amng tihe other banks, their contri b~utions constituting aL first lieu uplon a the assets of the failed bank in favor Sm of thre conrribuitinlg banks. As a fur y ther security it is conrtemrplated that 0 tire existingp~rov-ision fixing theindi vidmar liabilitv of stockholders is to be p retaned arid tire bank's indebtedness c on accounit of its cireulating notes is , to e made a f ir'st lieu on all its assets. E For tire putrphose of meeting the ex pense of pr-inting~ notes, othicial super visonl. canicellartion and other like ti rharges, thiere shall be imposed a tax af say one-lalfo e et e r rinom uponou the aviergelt amenro ar otes in circulrati. It is further a rovded that there shall be nrational bank notes issued of a less dlenomnina ion than tenr dollars: that each nation- Ii di b~nm except ini case of a failed bank a hanrk shall redeerm on' retire its nrotes a tire first instance at its own otlice ir' at agencies to be designiated by it. ft in d that nto fixed resei'C rvemee be nantainred onl accournt of deposits. A no t her veryv imp iortarnt feature of hisn phm is tire d'eemptiont of State ei ja'li rm taxaitionis by- the United gi tates uin cases where it isshiown to tire ni aisfac('t(in (f thre Secretary of tire in l'reaury and( Cormproller of the~ Cur- ar '41ncy, by bainks claiingri such exemrp- ju :io.1bati- threy hanot hadtm outstandimng' :hen' c'ircubitiing nrotes e xceeding 75 p ,eri cent. of their paid upi and unim- e ired capital : that their stockholders be ~e inrdiviually liable for tire redemip- or *iont of their circulating nrotes to the ill ext'nt of thirl own~iershrip of stock: hat tire liab)iity of said banks upon hir circulatinig notes constitutes tin- B1 er theit' Starte law a first lien up~on to rert assets: that such banks have R: o-pt and maintained a guaranrtec furnd p( ii United Staites legal tend~er notes, A acluding. Treasury notes of 1890, vi tuai to :30 per~ cent, of their outstand- B~ ing mr'~ultingnots wen peseted c POWDER Absolutely Pure. A cream rt tartar Dainnw powder lighest of all in leav ning strength.-La et United States Governnent rood Re ort Royal Baking Powder Co'ampaun, tN Wall St.. N. Y t their principal or branch offices. It is likely that this scheme may be isefully amended in some of its de ails, but I am satisfied it furnishes a )asis for a very great improvement in ur present banking and currency sys em. I conclude this communication fully ppreciating that the responsibitity or alllegislation affecting the people >f the United States rests upon their -epresentatives in Congress, and as uring them thatwhether in accordancc vith recommendations I have made or iot. I shall be glad to co operate in )erfecting legislation for that which ends to the prosperity and walfare of ur country. (Signed.) GROVER CLEVELAND. Executive Mansion, Dec. 3. 1894. RUN DOWN AT LAST. )ne of the Copes Murderers Captured and Jailed. D. C. Murphy, a native of the Fork, vas arrested at Sheldon, not far from ort Royal, on last Wednesday, harged with being one of the assassins )f the late Treasurer Copes. D. C. Weeks, B. L. Lambert, A. Fisher au l T. D. Mitchell performed le detective work which has resulted n the capture of Murphy. That he s guilty is clear beyond question to ,heir minds. The story as related by he detectives is as follows: About wo - eeks after the murder they had ecured evidence that pointed to Mur hy as one of the guilty parties and ,hey had good reason to believe that 2e was n Paltaka, Fla. Lambert .vent to that town and after investiga ion traced him back to South Caro ma. -It appears that Murphy was con tantly on the move. Lambert fol owed his trail inito Barnwell County, hence to Georoia, into Screven Coun y. back into lorida again, and then o South Carolina a second time. At 1o time. however, could Lambert lo !ate his man less than three weeks tnd that was on his second visit to Palatka, which was on -the 30th of .ovember. The detectives then learn d that Murphy had left there about ;hree weeks before. Returning to :his State Lambert continued his earch and at last located his man at a ittle station named Sheldon on the P~ort Royal and Augusta Railroad, ibout fourteen miles from Beaufort. Accompanied by Fisher and Mitchell, [mbert left Denmark on last Tues l~y, went to Port Royal, where Tria ustice Rogers countersigned his war -ant. Weeks got off at Sheldon vhere hietkept a lookout for Murphy. Before the return of his colleagues Weeks saw his man enter a lhttle tore kept by. the negro postmaster of he place and arrested hun. Upon the eturn of the other detectives Murphy sked that they go with him to where ie was living. The place was about mile and a half from the station. 'hey found there a little cabin in hic1 he had been living for the past wo weeks and in which there was a >retense of a grocery business, but which was really a blind tiger for the llicit sale of whiskey; in other words Jurphy, or as he was known there, r. T. Shoemaker, was keeping a blind iger. A bout $15 worth of groceries ere in the front part of the cabin and he "tiger" in the rear. An old negro oman, blind in one eye, was in :harge of the place. Murphy was brought by his captors o Denmark on Wednesday night here he remained in the guard house mtil Thursday morning. He was hen brought to Orangeburo' and turn d over to Sheriff Dukes. The Sheriff hought that his prisoner was not safe n Orangeburg County, and as a pre autionary measure deemed it best hat he be carried to Columbia. The overnor was telegraphed to inform nig him that the prisoner would be ent to Columbia for safe keeping~and V. Hampton Dukes, Deputy Sheriff, ccompanied by the four detectives, arried the prisoner to Columbia Thurs ay night. Sheriff Cathcart having eeni notified met the train, and the risoner, who was handcuffed, was onducted to the jail and locked up y Jailer Coleman. Murphy is an ill-looking fellow, aving thie appearance of a pickpocket r fcoot pad. He is lean and slender, bout six feet high when erect, but as a slouching gait and stooping car age. His face is mean and hard >oking, a thin, straggly black mous che hangs over a mouth that stands pen nearly all the time and gives im a hunted, run down look. A in beard an inch long, also thin ad straggly, does not add to his per mal appearance. He is about 32 mrs old. His reputation before the >mmission of his crime was most uin a or. He had been in trouble be re on account of his rascality in rangeburg and had mad< himnself arce in those parts for some time. ec was born and raised1 about two iles from where the murder was >mitted. He had not been seen in L neighborhood for over a year be ire the crime and his whereabouts ere unknown. It has transpired that a had returned about a week before Le murder, but (lid not make his ap ~arance to those who were familiar ith him. lie had kept away from s acquaintances, but that lie had conplices is certain tind they knew Treasurer Copes's collection and ade up the plot to murder him be rehand. Rined by White Catps. LOrrsvILLE. Ky., Dec. 7.-Tom Ed nton, livhng near Sbringfield. was led by white caps shortly after mid glht this morning. Two men wear . white veils and long cloaks forced ientrance into his house. Edginton .mped out of bed, when one of the en grabbed him, while the other died a pistol and shot kim. Death as instantaneous. Edginton had en notified to stop) beating his wife he would be visited by white caps. A New Road. COLUMBIu. S. C., Nov. 30.-Mr. .ist, of Charleston. introduced a bill' day to charter the South Carolina ilroad Comupany. This is the pro sed road hetween Charleston and agusta tha: the Louisville and Nash- ' le is said to be promoting. August ,mont, of New York, is one of the In Poor Health means so much more than you imagine-serious and. fatal diseases result from trifling ailments neglected. Don't play with Nature's greatest gift-health. of lyouarefeelin out of sors. wea D K and generally ex g hausted, nervorue, Cotipahate no appetite Wrome and can't work, begin at onoetak 0 ing the most relia ble stren gt ohni I~ ~ ~I ho ,dcn~hch is Iron Bown's Iron Bit ters. A few bet tes cure-beneSt Yo ha g comes from the > the grtes eryfirst dose-il here re crtai goo si youar o dpleasant to take. It Cu res Dyspepsia, Kidney and Liver Neuralgia, Troubles, Constipation, Bad Blood Malaria, Nervous ailments Women's complaints. Get only the genuine-ithas crossed red lines on the wrapper. All others are sub stitutes. On rece n f two C. St we will send sat of Ten Beautiful or.d's Fair Views and book-free. BROWN CHEMICAL CO. BALTIMORE M ----------L- -- --- & CITIZENS OF CLARENDON Yu have gioe through two year of the greatest deprivation, audl no, there are certain goods you are co pelled to buy. The prospects are for a better cro than you have had for four year,; and we trust you are iB a cond tion to Buy Tli~ od leagestoc-n woerint coto ellI luarge part trie it o o. -Wige thae gatch -ayfin andcuToErs , in C.dn u THELMNF Razyous waigie NedsEc.c S. Tu m e J.. HOMAS PS.w e re henmtsw h tetuls, bye buasse Sugarc Bags,th cepeset covring.o otn ae.I S'UA RTETON S. ~. Manning Collegiate Institute, M.A.NN]~NG, S. C. I)o You Iteid to Educite Your (hildreni 1 If so, Patronize the Institute. Why I Because the Institute is well equipped for its work, and offers advantages that are Bot to be found elsewhere in the county. Besides the advaatages in the courses of study, moderate tuition rates, cheap board, healthfulaess of the town, combined with others of equal iwportance make it to youz in terest to send here. RbeacL 4consMicl4e~r Act Seud for catalogue. E. J. BROWNE, Principal. WM. SH-EPPE]RD &~ CO. .ARGE Goods, Etc, ASSORTMENT. -OF- -I Send foc circelars Tinware, and price Iias. No 232 Nfeeting St., CHARLESTON, S. C. PERCIVAL M'FG. CO DOORL : SASH, :. AND : BUNDS s 4 1' to 486 Meeting street, IARESTN, S. C OTTO TIEDEMAN & SONSy Wholesale Grocers and Provision Dealers, 172, 174, and 176 East Bay Street, Save Your EyeS!Palmetto Pharmacy bWhinfeoi eed a pair of spectacles dont t better than PE RVECT Eo CRYSTAL LENSES! OTOTE7DEMAN& SONS. Ji _m &FII\jj STP7bd&y Chren . . C. N - 1fAIL, Express or Freight goods to any part of the United States or abroa-. (Yrders receive p:omot attention immedi ately upon receipt. fa .entling money for articles no. 'zoted in this lis. oz our free catalogue, sent the awo-nt of retail price less 20 per cc.-.. Any d'Te.euce will be S -on - returned by ne:. mail. Oar- basineas is sTmc-TY cAsH. Goots sent C. 0. D. to re sponsible pailie-. We solicit a share of THE CELEBRATED your mail orders. Our Regn - - i$ePrice. ar. Allcock's Porons Plasters, 10 25 Belladona Plasters, 15 25 EYE -:- GLASSES. - Capcine Plasteis, Benson's, 15 25 Allcock's Bunion Plasters, large 18 25 For sale by Allcock's Corn Plasters, 08 10 DR. W. M. BROCKINTON, Our Little Liver Pills, 15 25 Caticura Resolvent, 85 1 00 Manning, S. C. Cuticura Salve, , 0 50 - Caticura Soap, 15 25 e,9 BUY THE " Anti-Pain Plasters, 10 25 Simnon's Liver Regulator 67 1 00 G T R h I No-To-Bac, 3 boxes for 250 Hall's Syrup of Hyphosphites, 90 1 50 Pennyroyal Pills, 75 1 00 Dr. Felix LeBrun's Steel and Pennyroyal Pills, 67 1 00 Alligator Liniment, 25 Scott's Emulsion, 67 1 00 Acid Phosphate, Horsford's, $ .40 $ .50 Ayer's Pills, 20 25 Pierce's Favorite Prescription 75 1 00 Hall's Emulsion - 25c and 50 Cod Liver Oil, pure, 45c, pint, 50 SCod Liver Oil, pure, 80c, quart, 100 Castile Soap,. 12 oz: cake, 10 15 Castile Soap, ic~ported. per lb., 20 25 West's Nerve a Brain Treatment 67 100 Phosphodine, 85 100 F T 1 MOS Extract Witch Hazel, pints, 20 25 DURABLE, Carter'sLittle Liver Pills, 15 25 - .a4TO stiWe claim to have the best stock of Druggists' Sundries, Perfumery, Tooth, Nail and Hair Brushes, Combs, Sponges, Chamois Skins and Toilet Requisites in the odTHE ccI to 2HE CHEASqT, City. We can mail over 2,000 articles in :N BUin Lu, No Y the Drug line, anywhere, and pay special winr our ome, Sewingattention to mail orders. We will mail our catalogue to any address about April 1st, The New Home Sewing Machine Co. 1894. While this catalogue is not complete OPANCE, MASS. . it will give some idea of the stock we ,m428 UNIO)I Scarry. 277 KING STREET, WV. E. BIZION, MANNING, S C. (One Door North of Wentworth.) SOUTHERN "RUIT C N Opposite Dime Savings Bank. WK. N. BAHR & BRO., W. H. MIXSON, Manager. DEAxERs INAXD mL%=AcTrnrs or IMPORTERS AND WHOLESALE DEALERS IN Cakes, Biscuits and Plain and Fancy Candies. FRUIT _n PRODUCE.' hNit d VGegtable Shippiq Pa0kags Ite, Penny Candies and Chewing Gums. French Mixtures and -) 217 EAST BAY, (- Chrystallized Fruits. Cha eston, s. . 319 King Street, CHARLESTON, S. C. S. J. PERRY. X. R. SIMONs. B.A. PRINGLEL 7,Orders solicited, promptly shipped. carefully selectedl. Johnston, Crws & Co., -WHOLESALE JOBBERS OF DRY GOODS, Notions and Small Wares, pii eee I =. Nos. 49 Hayne & 112 Market Streets Th.- che t'ri+ *i * un'- the bI. b t C HA.RLESTOIN, S. C. as .)A~ME. MEANS' 5'HOE*S 'r'er:.il you t bu. T'EFFERlSON D. ALSBR.OOK, 1'ca"lO"i i- te 'n" 'ounce ot woilhh-* A T'TORNEY A T L AW, founianviu or vor wen b**, uyin; 1.' r iiis- - 3IEANsS's.O '$.5,. P63.06, 8.4.00, or MANNING, b. C. 630 ilOaccording to.yu nes Office in TIMES building. Special atten For sale only by Moses Levi, Mian-- tion given all business in lais charge. Ding, S. C. EIO. W. DICK, JOSEPH F. RHAME. V'. C. DAVIS- ' DEN71ST. R H AME & DAVIS, SUMTER, S. C. Office hours-9 to 1:30-2:30 to 5. Over A TTORXETS A T LA R, Levi Brothers' dry goods store. MANNIN G. S. C. ________________ JOHN S. WILSON, A. LE TRVEIA LAW, MANNING, S. C. A~orney and Counselor at Law, INotary Public with seal. Associated with MANNING,. S. C. 1R. 0. 1Purdv. Esq.. i.. litigated cass.e