The Manning times. (Manning, Clarendon County, S.C.) 1884-current, December 15, 1897, Image 1
! I~ : " ' Ii
Aw_: I
V ii DE, MITI--. ANX .C. ~)'SDY o 1
ECKLES OWNS UP
AND THEREBY PUTS HIS FELLOW
GCLC BUGS IN A HOLE.
He Admits the Instticiency of Oar Money
Ile Reccmmerds the Expwnion Through
Larger Ienes of N.tional Barks-some
Striking Figures.
The annual repcrt cf James H.
Eckles, comptroller of the currency,
for the year ended Otober 31, 1897,
opens with a brief review of the his,
tory cf the legislation which constI
tutes the present national bank act
and invites the attentica ct congress
to amendments to the saw recommerd
ed in fcrmer reports v-ithout specifi
cally repeating them. On the suhj ct
of bank not circulatien the comptroii- I
er says:
"It is noticeable that all the chang
es which have bean wrcught in the
national cu-rency act froi its incep
tion to the present timo. the fea:ure
subject to criticism, but which was
intended should consti u-e the prirci
pal benefit to be cont-r:ed, hss re-I
mained comparatively unc a: id,
namely, te rote i-euirg 'uncu:Op.
Whatever j tstificion there was in
the first iraarce for retricting he j
issuing of notes assinst the conds of
the goverainert depcsiied with the;
treasurer of the United States to 90 per
cent. of par value thereof has long
ceased.
"In the report of every comp roller
of the currency during the past 2
years the wisdom of changing the ex
isting law so that banks, and through
them the communities in which loca'
ed, might have the additional tenef:
of an added icanable capital has been
urged. Despite all this, the law still
remains wiihout amendwent. Noti
only should the bank act be amended
in this particular, bat congress should
sericusly consider such a change in
the method of bank note issues as will
enable the banks of the currency to0
more adequately meet the demands of
trade and ccmmerce in all sections of
the country. The business of banking,
like every other form of investment.
must be made attractive to capital. If
it is placed upon a footing different,
from other undertakings, embarrassed
through unnecessary restrictions, and
deprived of proper sources of profit,
the result cannot be otherwise than
that investibie capital Will seek other
means of employment and to such ex
tent deprive the people of the benefits
of the agency most requisite to com
mercial activity.
"It is considered by every great con
mercial government except the United
States to be the sole province of banks
to issue paper which ci culates as cur
rency. The belief in a bank note cur
rency as being better and safer than a
government paper currency prevailed
unquestione< in this country until
under the apparent exigencies of the
war the government undertook to is
sue paper currency. Even under
such circumstances the promise was
always given, however, trat it should
be retired at the earliest practicable
moment and the admission freely
made that it was neither a wise meas
ure nor a safe form of currency.
"Between the competition of the
government note issues on the one
hand and the unnecessary restrictions
impcsed by law upon the other, to
gether with the increasing price of
bonds re quired to be deposited as se
curity, the note issuing function of
the banks has been permitted to be
come merely an incident of the con
duct cf the national banking assccia
tions of the country. It has been se
riously suggested more than once that
the bank note issue be done away
with and all pa par be issued by the gov
ernent instead. The danger of
such a course is not to be overestimat
ed. The experience of every govern
ment has been that governmental cur
rency paier is a source of weakness
and danger. In the United States,
where there has been the nearest ap
proach to success, with the volume of
the Federal paper comparatively limit
ed in smount, the credit of the gcv
ernment has been more than ornce put
in jeopardy through it and the busi
ness interests of the country subjected
to unnecessary loss and conf usion.
"Ihe argument. that the govern
mnent, better than the banks, can pro
vide for the red'-rmption of paper note
issues will not stand the test of a care
fual analysis. The government has no
means for carirg for its demand lia
bilities except throu~gh borrowinc- and
through the .Ievy ing of taxer. Upon~
the otner hand, the banks nave asets
which can be prom ptly converted into
cash meet their cutsand ing notes whe n
presented. Their ability to comLma d
-gold has always been beyor d that oft
the government, for in ea-ch fi::ancal
exigency which has con fronted the!
goverunment the banks have fort shed
to it the amounts necessary to mentamn
-its solvency. I' is in posible to b-ie-re
that with a system of batk nw te i'su S
based in par: upon securities at d it:
part upon bar.k asseta, the country
cannot be provide d vwith a sound, sa'e
and elastic bank note issue.al ways com
mensurate with and responsive to de
maids of trade. The bank of England,
bank o- Ecatland and the bask of Ire
land have been fournd to be ample tn
their resources to provide the rote is
sues for use in the trade of the United
Kingdom. The same is true cf the
bank of France. The Deutsche Riobs-I
bank, or German Imperial ban-k has~
for more than 22 y ears issue d bark
note paper against assets which has
maintained its value and has been se
controllhd as to sutccessfully mee t the
needs of the empire."
The comptroller cafls atttntion to
the organization of this bank and pub
lishes some interesting statistics in
connection there with.- The total n u-n
ber of natioral banks organized sincz
the system v-as put into operstion in
1863 is shovwn to have been 5,695. On
Oct. 31 last there were in active opera-J
tion 3 617, havina au 'author~zed capi
tal of $630,230. 295. The total out
standing circulation of the banks then
in operation was $229,199,880, of
which $202 994,555 w as as cured by
bornds of the Unoited States and the
balance by laswfcl money depositid
with the treasurer of the United States.
The total circulation outstanding of!
allnational tanks cnOct. 31 last was1
was $230,131,0( 5, of which amount
558,800O was sec ured by bonds held fc
account of it~solvent and liquidating
banks, and $26 205,:325 by laaful
money depositaa fcr tneir sccount and
by active banks re ducing circulation.
The ret decrease in the amount of cii
culation secured by bonds diuring th~e
year was $12 5SG6334 and the gross de
crease in the circulation was 24,n51,
292.
The 3,617 banks in cperation are di
vided geographically as follows. 588,
with an authorized canital stock of
~15 tm in .e New Entand
tates;956. with an sr ga capital
toc of $1f5.124,27,5. in the E':set r
:tates: 51t. vitha capi alo sc of a,
61.900, 'n the southemn States; 1,'46,
xith a car ital srock of $160 ,163 9i7, in
he middle Staes;357, with a capital
:ock ' $3'2.C54,10t0, in the western
tates, and 121, with a capital stcw: of
17. (5 '.+ in the Pacin States. D r
.ne tht year 41 banks were organized
vith at eggregae capital stock of $1 -
12C(. Duri the year 7[ banks
vent into voluntary liquilda
.icn. There was paid to ct editors of
>f insolvent banks durice the yesr
5l4 169 7S1 in divdends. T.e msgri
:ud of this unequaled record, the re
port says, will be more forcibly illus
.ia:cd if corsidered in the light of
hat has been secemolished hereto
Gre i the way cf dividen d payments
:o the credi:ors of itsolvent in.:utu
tons.
In 1893 there were raid in
i r ds. $: 43:3 617; in 1S $5.121 577:
in 1S95.:1.3S,552: in 1asG. *2.451A.+
ndin 16t7 13 16.0,7S1 i?s kur a to
a o' rividerds l aid withir u:.= CPrs
Frm 1S93 to 17 ;f ;27 5C-0 216 nr
3t - rer cent of a< the mcda u t
rave ever teen p-.id to cr*d'crs "f
' tron al bo *s F cmr 1"t3 to
1 97 th: sbeen aid in: d v.dends
75 S35.f2 and in :'e vear i mrse
i- tin: r eport $13,169, 7 -1, or 17 1-_
per (e. t of as the d.vidrr~os t t
ave b: en naid during tie period of :>1
t e trs o t're Cierc: of t5' y't:2.
ia:te Oc'cuer 3'1 mhe "d of the rep rt
year 17 Sdd:ti fnal dividends have be.en
ordered. am urting in the .e'regate
to about 625,0t'0. The report con
tains the latest conpiled statitiics rela
ive to the worlo's mo.netary sy:te:
mnd the stcck of old, i iver an: p'aer
:urrency. A very interesting 'ea:ue
f this ststemrt is the ter capita
arrunt c each kird of norey in the
:ountries named. The ptr capita
averages in Lhe principal countries are
as foianvs: United States, 023 7.1; toe
United Kingdcr, 2 .65: Fracce,
.31.68; Gtrunatiy, s 09; Austria
Hungary ' and Russio, $S.95.
The comptroller renews n:s recom
mendation of last year, urging that
aticnal bank examiners be Faid in an
anual salaries instead cf fees as now.
Lock Ont for Burglars.
Williston, in Aiken County, was
viited by burglars one night last
week. The store of the Wiliiston Su
ply company was entered through the
front door, the safe blown open and
robbed of about $250. The postcflice
was broken into also, and a safe dyna
mited but it proved to be the wrong
one. The office had changed hands
Wednesday. Miss Marie Harley tak
ing the place of Mr. E. E Bruce, and
and all the moneys, stamps, etc., had
been changed from the old safe to a
new one. The old safe was the one
chosen for destruction and from it
they got nothing. The new safe con
tained $700 cr $SOO. It was not tr3u
bled. Three strangers spent Sunday
night at the Williston Inn and were
seen in town Wednesday. The Inn
porter says he saw these men gamb
ling with some negrces Sunday aftcr
noon, .ut he did not inform the pro
prietor of this until they had gone.
These are the suspects. Telegrams
have been sent in several directions
in the effort to intercept them. One
of the men was about 50 years old,
one about 25 and the other seemed to
be not over 1S. The above is taken
from the State. A special to the Reg
ister from Batesburg says: Three
well dressed white men, supposed. to
b the Williston safe burgla, were
captured here tonight and are now in
the lock-up. They made their appear
ance iis town about 7:30 o'clock this
evenirg, coming across the country,
from the dire ction of Williston. A f
ter taking supoer at the hotel, they
went out on the streets, where their
general appearance, taken in connrc
Lion with the way in which they came
to town, aroused suspicion. A bout 9
o'clock the town marshal, accmpa
nied by a score of citizens, approach
ed the trio and told them to consider
themselves under arrest. They imme
diately "showed fight," and, drawing
pistols, told the citizens to stand back-,
on pain of getting their heads shot
of. In an instant the sapects were
coverEd by a scre of pis'ols, wnero
upon they quietly subauitted to arrest.
Tey gave their names as Onarlie
Jones, Harry Jones and Joe John
ston. When searched theme was found
upon their persons $19 in silver three
pstols, several valuable diamnd's,
and a nu-uber of piec-s of fuse. T'ere
is little d.'ubt that they ate genuine
crocks.
An amnasi st-ry haos been -coing
the rounds of th~e rne ospaers latl',
A genmhman saw at a lectur~e on e
niht his barb'i. Tr-e raxt time re
asin the barber s'roo h.e asked *t'
barber if be en joyed the lecture. 'N t
t all," was the response "My' w o
e vening mrs a failure, f'r fromt w:-rr
I satin the gsllery lIcould 'c- tha
your hair was not paited~ s~rgh
This man is fairly repreentaive o:
a large proportion of peop e in -'i
wrld. Wit-i them one defe b'o s
out every pcssdibiiy of ei'j )yment and~
happiness, It is the sa'ue in h
estimate ard enjyyment of necpne
The one defteo t c earacie obitter~at
e ninety nine virtues; the one actc
which they disapprove bit ouin
memory of the many of which 11. dc
approve.
It is wjsisom to count the (las ',
te inspirations, the po sibiliue, th1
virtues, Lhch are :a ntr ur lf
::ndt to :e: th?' Catct as tnhey sureN
utnumxber, th~ surrows, th- 'is
th.e defeats, the' 'ins. cC car lives. i3
here greater olly the- to orthrcugh
life atohinr the crokeJ. ps? I:
takes stnnth of mnine, and philoso
phy, w-hich is but another namet for
mielgence, to master the defats
the disagreeable things that
:ome to us. And it cannot be disput'
ed that the positive evidence of weak
ess in any character is that t.,f count
ig only the things that subiract fro~n
the jyy of liig There are people
rho tuink that ibe measu:'e of righte
::usn~ess is the~ iabliity to iaughn. Tuere
s no relation het ween dy spepsia and
rightousness. Gd madue this world
beautiful to made his~ ctildren happy.
lhe trials or fie, great and smali,
houibe accepted lke the hills and
:ncantais m'et in a journey-di~tiut
'fsent, but prese-ntirn greater bea
aa rortion to the strengenh
.rr.mact not gofa nor highh
Ue a i e e1i.Hs neii
ere and powr' of rea"ching th.e f.il
-iat deedohi blt to ret
te past ar:d liv. a the presen- of
UISMAIAWASTOS
EX. ORDINAY CAR1E0 CF VC-ur
Er MURDE RER OF MANY n:ERSON
Hi Seri r o' f crme-Tw:tary three Am't
e.lustiets arcught H: me to HimReoa
V, ithou Pari-Bljacd c Sr. serg:ea in
1l 1 ar d i e.Chief.
There is athing ua n:cdanhi rv
with w ich to compare t::e sap.a
r: career of the Fr'ra c: s'rg t csr,
IVachr, sars to4. !me orsod
ent of the Nw York . Tie Jack
the Ripper .:urders in i uccu c en
years 4vo are e: m-ee reiy (elipte- " )
t, andt the eveatie is stl.incp
piete. TeV' rE ss s"eCsio. s
have alrea . e rouant hmn;e to
" is blo0d-tirs-y wre :Ch, ande
fa das psses th t a'other is not 2L'
to the lFst. I: is dCoubtu irte ml:'
derer h:mself ano :s t r b. of
his victims. . noi 'c'alautil tell, th
story of s.mie 'resh trar"-a' to the '
am::lintr.;n istrate f:orr tin::. io :iroe
as the dtils recur to his s' : d
-sr ss u : du - ' 'I co ' 1 ci
toe~ rr rdv rs I~ . ~ T.e e r
n ciu e s -- r l ie-ime a a }eret t,re
n vach e .I fo - co r i
(i1e? dit a cot a i r 0 L
hicr-t~' hm ou n
a re for:' ofkL
be~ man anos tehroau i~ag~.
am. 'or 1:arti'mt ;uaSsh m' ra'
og n rni ; rf m::1"ir.. ti.^ !; ::a r si
b er itlsna fcoi y o tsr e :' ii
' n S C:':y an 1r::i u u sdj C. t)
ts of hmicidal mienia \cn:r, who
_ -n"i, abeout 25 eat or assauiLd
sant vli ea- Ly aeS. He sr fa
his mini:ara erm in are;iat
rouEs, an'd proved - o o a so: di
aI he was made a non comm:s:c.ne
1ler, It was c lra o' in
that he was fr,: sever e to.ther
cruits under him. A t oug ml t
member of a runo :r d '.- euch f l mi
lootels how bacher once ab ed him
so savagply while drii ing' him that
he lost his temer and sran? t tce
oung martirnet. Lckily fo r the sol
i dier, his comanions seizety hia s
tormentor, otherwise curt mariai
iand senta ti death fornas asslum
at cilicer might have been his fate
under the stern lases of military dis
cipl e ian rance.
But there was no Suspicion or
grcuad f r suspicion of ZVacher's san
ity at that time. Just after co
pieting his servie, acer was ill in
the hospital for several 7e-ks. Dur
ing his cntii eient he attepie to
blow out his brains with a revo)lver,
and he still carries the bullet some
Swhere inside his skuli. The shot pr
duced re-:urresi fits of insanity of soi
vtoent a character that he was cu
fined for a time at the unai as lum
at Dole. Di. Gi verr. the wea-kino on
exoert in mental diseases, sags that
the physicians at the asylum released
Vacher, although thewk e he was
not ili to be at large, because the?
were afraid of an outcry in the press
against the arbitrary confinement ofI
a citizen underterx that he was
mnsane.
nThat was three years ago. ice
that time heaiher has wandered
through the country districts of
Frane leavind everywhere a trail of
ted,& auntil ge sn by chan ees
toabcut t week ago. Most motise
watis ere erioysl and sorid.
wOnemn he kiund 'edisg their vc'cks
inwoelv felds-ori snhit sides, bu
cs ometed he killedsmhn andmien.
he eache cause semed iedwith a
and cutoad. sahdad fe s
to Te t umanity.wa Eu-.ahs motive~
bas oftern soreratinal arpn odd
On~i mm he kie~ d becidaus i id
chercoeed Someti os, hev mits,
he ile fbecause he nedd. tone
sarlnd od. 'ia e . e
The murdlaeer waps~ alvay ctred
bne th-er in safin "vdu scion fr
hepnecrd -ooy o'i a conry' ro a-fe
ie rom Li-:idon He hcc theu
bod almvs;'int \ p--ad then
themilate cpesas deovere
ancereasindaesacfo
avers a vae5 er, 'n - le u
his a ga'age ns t .Irs li r )
zpuivcs U s as irn- a nele utli
-- hyr. -A s myol - gi' t
dea Ath. redarmud. "Ip nn
la o to' ai:rn.o :e:n.,I e.~
"I va an r .rcin . t he n~
don t bh coornr a-cout ~ee o.-k.
ABdit e c-fe~nime, hai e i :
O les e s il"b'.mr;:'c nc
iameds R ir. \a h- ri- wc -
ugy- toui r . ;i -ir elt. , p
- ~redad e red:L big ba n i
an~ who atto herv ~c n aL.; rad
retu:ri :in" fro m'.rket. w;E. se' chd
:ld .' orai g s, and a .nan came
behin1 her and stized h. hy tie
:hoat. She strug, gled v'iolently.f
mt'aus ed to scr:acn her assailants
face and succeeded dnally in scream
ins. Several )ersons heard her, but
be: re they reached her her assaiisnt
tlei. 'Trt e ether women were at
tned ithe same way that afternoon
but were unable to esc:-C in a Similar
manner.
\cier's most oromineut victim was
the Ma: quis de Villeplaine. who was
killed witi e waIking in his park in
south :rstern France, n!O: far from
tie spanish frontier. The mxurderer
crept up behind him, felied him by a
blow on the head with a heavy s':c?
rnd. then cat his throst The nmurderer
carriEd off !I vie.:i's coat and a port
CilO cntraining some 0ark -Ie
\ 1cher we.t to Spai1n soo i
i urder.
O ohis more _ cent crimes.
wvhch nt ntver have become
koo:n bat for tu mrder-r's boastful
i'.un iteered d .sc 'ivan of it, was tl
illingd of a boy of 16 named Bully
rear 1;vr's o&-cer and eCken
aalers~e, thit "-:s aisapal.rance ":a.
mud.- 'lt'e acco. '\'cr d
t h ~aaita iti r 'n e
i :n eho r': . sh and' dt eecd'
. ...i i n ucc(c~u i 272s !. -x n 1
1..P nurS in cuttng tn. :ti t?
.1:- s anid E-.nt'-ly thr'ee it (;oir :1 a
siontoprnast.Part; of, t e
-ecI. s h- v- now erc-',er.d bv
Si !:0 wI: e V acher's d irectit r
Tia extra.ordinary c;rinal hi sar e
et~c'o- uer dinar" oaservahcu,
and tinrein, O C'-e t.1 .t: r1
to soia tor cra'.tures w~ita suc-,
ornpmsu- i he m a. st disiusting
ias th ndUat aY crimn-ia, saae or ?:n
Jsane should' b.2 able to go abr:tit):'
titre ir p.: l
:ated countr y,tah'i-:L life at till anld in
an amos whlesele ay asand 3 y
ba coatoaratir ly ;r e :tom the pur
Sit of the aients of the law. It is the
-_a-in i E.;rcpe, to regari America
o:s a moreV" or Jes; -la iest'3 wildernss,
where huma:::sfe is cheap. In the
face of this revelation in a countr l
which'" . prldes itzelf on the skill of ?..s
detectves, Aeria noud be sfe, -or
a time at icast, fro L the repetition of
these slanders.
THE COMMON CR;ME OF MJRDER.
Itits W'Ici Prevalerco Throughout the
United States.
There is not a State or Territory in
the Union in which there is not a trial
for murder pending. In the State of
Kentucky tiera are forty-seven cases
concernirg ninety one prisoners for
murder awaiting trial. In Virginia
there are at least twenty-three charges
of murder. In the first State only
seven of the men in jiit to be tried for
the capital ufeuce ci murder are ne
groes; in Virginia there are eight.
North Carolina has twenty cases or
more, Georgia twenty-seven, L>usian
a :c)re, Texas thirty t, o or thirty
three, Missouri twenty-four, Illinois
sixteen, Indiana seven, Michigan
three, Onio eight, Pennsylvania
t wenty six, New York forty-two Con
necticut, Rhode Island and Verrmont
one each. New Hampshire has just
settled one of her three by a sentence
of thirty year., imposed upon a crazed
assassin. California has twenty-seven
cases on her docket, and. altogether,
witha dmzn more or less, there are
2S0 charges of murder on the crimiaal
dockets of the various States and
Territories. South Carolina, we re
iret to say-. has her full share and
more. Somne of these have oniy passed
as yet from the hands of the coroner
or committing magistraies, others are
on trial, some are on appeal, and a
fe w nave gone thrcugh all thbe judicial
rocedure, and the convicted men are
only awaiting the executive action of
the law to complete their record.
Tere is no dominating cause of these
crimes, unless it be that in the large
cties thev are more frequently coa
neced with robbery. Love, revenge,
mdnss, pure thirst of shedding blood
gain, j -alousy, poitii wrangles,
family feud., and drunkea brawls are
a few of the sources from which the
nmicide acts have irigin.- Some
sem not to have even tne plea of
madee, to wvhich so many of the
caseless crimes are xeferred. It is a
maed point whether legal punish
r e.: ias any deterrent effect upon
erl ,but no one can note the terribly
sugg esure figures given above without
a- earnest~ wish t!ha5 puaishment ha-ve
a real test
The- o rmp roller I-i-iis Aunthe-r iCircalar,
C' OmptrllIr Geea En on is p Js
inga :mater ' re~ucs of1 he
pr.er d caial of u-sv e-uRir
-' -. He .se-nt ojut the:1~ foliUin
1:'e to co3Ly auditors, askCingf
a hhe aditrsar dng tai dn
Iri t It -e . *lyn -E * he
dCs r'g ire of yur c'll*- u---r
na ms u::-d oiver to your cour-to
X~r veytruly,
Contr-ir Geneal.
Te r.port of the auito rs t) the
err I :ler' 0in i comtl an:'e
wii' ""s etr w-! nI ec-ssril inm
of orgi:! paca-- estblihm .
the ' origia packag businesvn
baestabshe sice t v cCrolng I
I *:- aud-or/ cgal unl:camti a:.d
-a visors by A auit or wil proba
o:v be only wie transient stand kee
~r wh~ormore about fr-sn piuce to
*~c and s1ldm"p'" o'her than city
:ce me taxes.
uicid-e of a Jddge.
j.sc.:: of th'e supreme e 'rt of MoLI
ie a iut mi:t at ns 110me~ :u
I 'ex, a sburb o Hlens He had
.. t h cvruing Via a Cy.
.r'dia ne-r's hou, si:u
e _i_ .___ was .11 s ar of age, a
~aive of Vicksburg, Miss, anid a
grad aate of Yale. He c..me to Mon
s' UO tiOU PRLOBMl.
THE FAKMEFS MUST FIGHT THE
DEVIL WITH FIRE.
The Columba Btate Jus:t'y Conieds that
as L-"g as Trusts Ex!st tie Fa:mfrs are
Jri.sti "d in Organ .'ng One to Froter
The:.4 ter'.
Prof. Means Davis contibutes to
The S:ate a thought fl letter on the
I ?;iue of te day in the south-the
nwcrs of raisim the price of cotton,
be reducing the acrease, cornering
the product, or otherwise. We print
it with pl-asure, although we do no,
aane with several of his concluions.
Oir friend is a teacher, a professor
of po'i.xil economv it is his duty
in ie to announce certain rigid doc
trines, to tesch the n and to sdh.:re to
them re crdi es; of con Eiiecns. It
is he obli ation of others, in other cc
cupaion':'s, to nake theory conform to
Lee ssity, to make an honest living
evenl atthe cost o sub-ordinatinZ dc
trines th oretioallv s und. Farmers
inay :-::rove c: trust . but if they
see io preset firese -r's:rf de'roy ic
thocse ihm: alr- ady ex:t to twrop
rs"in and ha- the hope that be
maiing one of theiro on they may
cu'(~~re i. rcs for their great
taple. t iuy rill noa: e isil persuad
id to ay their hands. Te pinch of
ert is ever mo-e no erful than
e a!'urem~ants o -blanked barren
dea ity.'' Hence we do not thick
u F.? cot sderation o consistencv
Il keep them from oiro., into a cot
a''! trust if they thin a cotton true:
i rleve them from their present
i::arcial pl'ght.
As e have said in previous ar:i::e:
areatlv doubt the ability of the
illi in farmers of th- south, widely
rct-red over a great area. variously
irc 'stanced atd unused to coopera
lion, to eifect and maintaic a cormoina
Lion for the purposo of reducing the
cotton creace; and ib same dii:ical
ties s:.end the plan of organizion a cot
* on trust to corner the staple. Yet we
v ould nct discourage either o, theSe
rovements, because if Eicher should
happea to succeed it would be of great
'alue to the farmers and the people c:
the snth generally. Even if they
should not be organized and operated,
the free discussion of them would con
centrate the minds of the cotton plant
ers upon the necessity for a curtail
ment of prcduction; and might pro
mote by individual action that which
could not be gained by cooperative ac
tion. To realize the nature of a dis
eas is to make an advance toward cur
ing it: and the disease we suffer from
is an excess of cotton on the brain.
Prof. Davis is seriously misinformed,
we think, as t> the area in Egypt suit
able for cotton culture. Our under
standing is that it is quite limited.
The India cotton is very inferior and
can never take the place of our fiae
white staple. In Russia the industry
is in its sarliest infancy. In. none of
these countries could it be rapidly ex
panded, in response to a rise in price,
to a degree which would supply the
mills of the world from other tielda
than ours. Even at the cotton famine
prices of our war time, though the cul
tare was very prodtabie, the foreign
aupply could no: app-nacha the da
mand. It would take very high
prices, maintained for years, to make
outside production formidable to us.
That tue south can produce cotton
more cheaply than any other part of
the worln is admitted by Prof. Davis.
But why should we for this reason
produce all we can Because we can
raise it at a cost of 5 cents a pound, is
it rational to raise so much of it that
it can only bring 5 centst Surely not.
I? tue crop is unoroliable it ought to
be abandonrd by those who cannot
make monev out of it-let those who
can, keep up their production, and in
crease it if they like. If the total crot
is so great as to make the price rus
dowvn to the averagre cost of prednc
tion. then the total crop should be re
duced until the average farmer can
,mak~e somethiog by pianting it.
We entirely agree with Prof. Davih
that what we commonly call over
Iproduct on is rather under-consumnp
tin, ciused by the inpaired purchas
ing powver of the pc ple under the
operation of the gold staudard. For
this wec are seeking by the balloi a tin
ancial rercedy, and when we get ita
crop of 10 0000 bales will not be
too much. Ba.t for this relief we must
wait years; for the destruction of the
truss s. must wn years; for every
thiug save what wve can accomnplish
unaiJedby Lav vre muet wait ,esrs.
la"in mantime are vr- to gi on giv
ing o r tin'e, jabor and thought to the
u.limi~d produaction of a crop that
co-sa' p cyv Not if we have half
Tearers of th:e south will not be
likly to as qmre a love for trusts if
the ine a cottonl com 'cinat:on. Tat
trui pich themu, as well asi our
Irien. touo hard and in too :iany
p~c Tnieyi! be gi:.d enou;-i to
:cit~ t'eir tow fo~ t sa'keo
sept away" thed tondre~ or.
;'anwi , it is possibeorhe
it priey to renunc i rs
Le mitt-: they iad to crea for~
Wr ilS Cu<ec e 0rra.. c.atae o tu:
oanCuo 2- e di-o o a. m i r
incn a to hum- are avery
alierent m caract t an proes.
u~te s a cose crpor ti cree t
I - ..il compeisiOn p.ndrte
ai 'og to ncl much ru i n - m n
Cdaim onattxeraio in z
d::eing the e:e-ssi .c-pia .i of
cie sa w.1: th mins.d
coir~t te lege repil go)rin
'ua~ n or ce wome marry mg oldn
tueldir sdaors fora te rpo of
:: Smn atesid sac rwn
CONCER'.i:3 COTTON.
A P1in to aobl'., Gne::in in i'u
tu. y.
The followir. g i the f:li 2 of
Representative taxs
will be intrcduccd b; him att an cly
dav:
A ~Bill to Abolishl Gacmblirg in (tton
FItures and Others Agrisu:ral
Prod cts.
Section 1. From .r.d after th e ass
age of this act. it sna:l be unlawf ul
for any inJividua. rcrpo ra c: Cer
association to engee in:r.:mIli' ne
rations whose tendeicr is to altf-. a:
titicially the market rc" or cotton or
oth-r sgricultural products.
Ste 2i. r te purocs.es of this :C"
gambling operations inceec all con
tracts for u.rchw a d sale, commor
ten:-r and c e'.very; oft te :'.dual co.
'nodite naed ite c') :rac. is not
mhade.
Sec. 2 Each contract cftred
livere of exton. crn. -he', an'd oa
fs:a!!licate to o~ne: _ad a o ie and11 :.
Linount . ." rd arceifr n
no te" nl Fr os.ar t:1:re Y! a ' d a'
that named in tec :: s::ailb
legal tnder.
Se.4b rro ropora in
3 c 1 z x.c.I.. c"
assocliatin, :]ci1';ners. ? rr e .>
tivt or o.! s. i d i l: arvo
provisionas of th'i Si, sh:l :^on comi'
les than . r ci *' s
ao w rien ae uait be p]. to t"
infoi nm ti.:r imprisonLed ful: n .-t !e
than sixmont s. or.tol nnEa :-.! io
pr's-yd in the directian of tl co'::
tine and imprisonmetn:. any perscr
'ho has satforedl i'jny y r ~-ason o!
asuch unlawf u operations _.y rcc vei
damages iany court of ..'tp.::
j .rhind:..-ion.
Sec. 3. .El : I and narts of acts in
c nst .t rnne rr.v:-ons of ti
.ct are . .
I):. Scfs as seen W neday af
ternoon after the idjournnet OL ti
{oise, at is roon: at 1t Metroplita:
hIotel an' ma-de toe folloi o stai e
m(ent in reference t hereto:
"Thae purpose of hisl is pa
and its provisions i" enhaced ir.to) las
will do all that legislation carn d:, to
ward the end in vie. v
"I have made a close study of th
problem since the cotto a growers' con
vention met in Columbia last mont:
and appointed me a delega-e at larg+
from my state to the interstate cottor
growers' convention called to meet i
Atlinta on the 14th inst. At tha
meeting, I will . resent a plan of co
operation among cotton grow ers tta
will give them control of the spc
market. This bill will wipa out tin
gambling market and leave the pro
ducers of ctton in position to contro
the price of their product withiz
reasonabie limits. It is needless to sr
that under the Drrovisions of the billi
the same remedies may be appliet
Ij ast as effectually to all other agri
cultural products-corn. wheat, oats
e:c. I speak of cotton specically be
c..use my people are mostly interester
in it.
"The section of the bill requiring
ea-h contract to relate to one grad;
only will of itself revolutionize th:
trausaction on the cotton Exncange
Under the existing rul -s the selier o
futures can deliv:: any grade froa
gocd ordinary to fair. Pams shuts on
1 spinners and acta. buyers of actuna
cotton, practicalily, from the cotton ex
change. because the spinner wnen h:
bays cotton wants to b'ay a certani
'grade.
"If we compel the delivery of the
grade spcified,. then spinners car
have a snowing on the exchanges
'I repe M.; the bill will give the re
lief the farmers need, if it beecom:
la r; and.] it will hecomae n~ ia iin:
farmers demsand it.'
A L'u2or-Dlinktrg Btoa.
They say that the D?:mocratic is:
drai~tng party. Pennsylvani a el-et
ed overwhelmir'gly a. Repubiica
egislature last faiJ, ndt thin is te re
~cord it left when it attendled the tde-il
cation of G-nera G .nt's moraaius
~in New York
Ts b~e suppi .....j.....--'
Wies and lig 'r....... 23 &
Su pper at Padiiade'thia..
1Cgirs............... . t 0
*Srvice of air......... 240 t
F e -igh... ..... ,.. S 2
Iloilding kitehta..,,..~ 175
Oar' fare of waitto'......,......2~t 5
IToa...,.......,,. 7j
To liquors returned.......... 157
To anie of sto"es.............32 u
I Tot1.....,...........-..5...i
i., & 'o'' C..s L2eou
-);r~ :ana x1.zac
:nwou in,
tiaeo he
0 1..,. .. 0
acron tauur'
Up- te sof~ tert C:P a
-a - ACT.
utivrnue Raiser.
The Diney Tari' act as a preducer
of revenue promises to be a ihr'e to
c: e failu~re Trem ec-sare. ,-.:sih the
s'. i s so r l attained, :. ?s est:m a eu r.
r-' dI _ it under the Dirlgley law
..:eq'al tit 'of cien:cy for the thriee
ears under t e Wilsont ia-. Tn
ttemr.t n'aae by S creary Gaze
t uc o r .
receip t :- the irs:t y'at' undeer the
n - taxir Fi n oy :o beyo ?i 5,000,
)' iis rby in a at e Crts.
r ten r tinc Mr C.age o ue
1r sof m Eio s. ralod
'.............1 ' .. r'Ve: )LcnI
: to 1 i. u-eno e trO
Sthe colleionU f auris on impora
tioshisesimecsarestllbelow tb be
md byii ritoale accontens m tnie
co ~-: 'Oment arm: $3 353.C 2 .or..
T-: toilleno ar of te :rdmnistatio
e eor lam toe con
r ' nthe Di i 1e. y act, red mr:
bed o un rsua meosivermdnverine
tonu io s t wt 1'p
e7tn aoP-resnty~ne as raeida
wee' theveicP.ce ::iRate .s
ia : the rrga:z:ti a i h syntar
ir~l toe ies nav:ent on det ac fli
ence. m.,pc err :eterdin aykin the
essuay eslo ut ieond th ering
rY :-e. is o f the creer:mert for
dniu ciS higerta:-y(.he was able th
trentr asnras red fromovarh e1
A ~'rm ths pont, ith the Dinley
c is for the 1oJ hT dTl t b
tn t. o ',s sicJri oe t e has be-an:
Jul y .....,......... 1,...... l,0 3,a
. 1gu.t....................1455.0O0
. C.J- .................. 9 000
1v e ..er.............. 8S :52000
Sde:-rya Gae's theres for v:n u
.e:, s a o y carrying into the csa
3 on- P cic sa e, mn k s a arplus
for th,:ota of000. i Elba mu this
mone in no Par a of tae reenue de
rived from the Dirgey ac:, and Must
be deducted from goverrment reve
nues to ascetain what the a is pro
ducing.
W en President McKinley suee'
d Mr. Cevelnd thae ash bcashin
Ve treas.ry ivs 211.837,253. Imm e
diately the preparation of a high ariy
bill commenced, and under its iilua
ence, imnporters having taken ad
1vantae of low duties and fearing
! much higher ones, the cash in the
treasury was increased from March 1,
to -August 1, uutil it reached:3233,010,
From this point, vith the Dingley
act in full operation, the dfit hitas
con tiaued until N ovremoer 30, when it
was, for that portion of the fiscal year
are: competed, $16.,00,000. and
running at a ratio of more tha 100,
000,000 for the en tire year. During the
tinme years the Wilson act was in
operation the deficit was:
1895........ .....,........:13.805.000
0
1890 ..........., ...... 2 53 000
Total ... ............. ,....81 00 ),0 0
admitting that there will be an in
crease of importations during t he latter
part of the year, it is claimed by Es
--
perts ;hose authority cannet be quaes
tioneo. that tne denicit treaca a.,
least a85,000,000, will be as much of a
Whe PrsdetClevlnsue
cn ingac 83.teewsa
ENT ~O CONGRESS WHEN THAT
BOCY MET LAST WEEK
:t I, :1:t a Lrgtby Dccunent and Is
oe Rcia Mb' or whs it Does Con
C~I:t3 w I: Dcea,
: ecaConcs assembled last week
Pai>:McKiKev sent 'n his first
a:,:al mssage. The message after
accr : :: erything is lovely and
th se fangs high immediately
rcts too- wherein it is not and
e r:e:ds a currency reform which
:s :.i..ut ma'.erial differemze the
=ame tht has been advocated by
P;esident Cieveland and Secretary
Carlisle for the past few years. He
cal.s attention to the necessity which
Ye governneut is under of paying
old on denand, without the ability
d'-enard cold when it receives its
r:enucs;to the further fact thatthere
n ay to procure gold except by
-C iues and requests that legisla
r facciitatinz the secretary of the
u i. these issues, on long or
be passed, if it is intended
o canue the present system. He
ommeads that national banks be
:%:.d to ssu:notes to the full face
ue of the Dcds they deposit, and
t - ted ory one half of 1 per cent.
beir issues. which shall be in
s of $tO and upvards. When
:leers or otters bring United States
:oels and demand gold, he recom
mends that these notes be not again
fpid cut mept for gold. The presi
de admit:s the failure thus far of the
r-: at international agreement for
t coiiage of silver, but still holds
out the hope that it may os accom
pl hed.
i'resien: McKinley devotes a large
part of his message to the Cuban
o es on, and reviews it fully in all
ts bearings. He dcclares the recogni
i.ion of Caban independence is out of
the q estion, and the recognition of a
sta' of belligerency would prove a
gre hatdship upon the insurgents.He
outlines the great improvement that
has taken place under the government
of Sagasta since the withdrawal of
Weyler, and declares it is the duty of
this government to longer wait for the
test of the new policy that Spain has
entered upon. He says there are no
longer any American prisoners in
Cuba, and the conditions have been
greatly ameliorated for the non-fight
ing Cubans. le thinks there is prom
Sise of ending the war under the new
regime and contends that it is our
duty to await a fair test of it. His
positions are plainly taken and force
fully argued but will probably prove
a disappiat ment to those who think
Spain has trifled already too long,and
that this government should' go
promp:ly to the relief of the insur
gents. He favors a prompt ratifica
tion of the treaty for the annexation
of Hawaii, and recommends material
changes in the laws relative to Alas
ka. The message commends the prin
ciple of international arbitration, and
approves ihe enlargement of the scope
and effectiveness of the civil service.
The enlargement of the navy is re
commended in some particulars, and
the need for more dry docks is em
phasized. These are the only subjects
treated at length in the message.
History repeats itself in the course
of M~iney.Before and while he
was a candidate he was an outspoken
'advocate of Cuban independence. He
assurtd at least one man we know
that if elected it would be his aim to
taccomdish it. The platform upon
wrtizh he was elected committed the
Republican party to give "independ
L ne o the island. Bit now that he
s Pesident, Mr. Mc~inley professes
himselt sideneid with a schemne of au
tonom.y which is clearly farcical and
iraudulet, and ignores his own and
hi part' committal to the promo
tion of ~asolute independence. The
rsse is, the sa ne as in Grant's case.
The mne yedi men of the east who
elec d in do not care a snap for
o~afor s and sneer at sentiment.
Th:' da not want "business disturb
ed" by auy patriotic or humane man
ifestation. A drop in stocks or an in
creased rate of maritime insurance
might come from the rec gnition of
Cuoun belligerency or independence,
land they simply put the screws to
their man in the white house to pre
edn atinz of that sort. We do
otsretheir sordid spirit, but we
casnno altogetther blame these eastern
ers for making McKinley stultify
Ihimel to please them; they bought
hi leto and they are entitled to
WeA real z too well the extent to
i"' .n rconey power has bound
? ie McKiey to put the least
a c hi 2,mestions of ultimate
anthe line of his past profes
.' Theie are mere sops to placaLte
c crea-l shamed and deeply
a in : der the cold-blooded pol
ego ernrment. Tney mean
nu mre t~an id Ceveland's hints of
n e ~ionat some unstated time.
Shive a President elected by
- dee:.cof the masses rather
e :reseroithe fewwe can
e o fora puiicy in accord with
aen t cf t to masser.-State.
ea P atriots -naeo a nalse.
A uich fro'm Havana says it was
-l i &2ran0unced from Spanish
he.u 'ris thata "group of rebels"
al naed hman rsera, near Guan
a e,-a-o-d by tne treason of an
-dee. Caiaerin the port of
-,i iute 15 miles by
....e..a.t....ce. Cair inera
a n of G.ntauamno, o'her
um r .d narbr. The insur
-i ,, report adds con
N c 2:0 asvolunteers and
C a.Tesyare alleged to
a red a stor and to have car
:no SUO,0,which was
ad. WL~ch had recently
b .aimanerai from Heana.
dc tha thie insurgent kill
-secor and two gen
a uyand seriously wound
9 p. h paymaste: named Jose
are Sanish cuerila, the of
nuoaceme:t em~cids, have
T aauenr-. Canm.
3 a brdirg abottle of wine
-ro , whn the Japanese
bue': ship, they liberate a
- ei 2.ir birds from a
re .ebowesprit. The
c ed' that nulling a
- cth vessel slides down
caesitt fall to pieces
6 ittr -'erriiy about the
th; sto sain the waves
eraad 2ie. It is a pretty
a at er the advantage
vi he brcan bottle.