The Barnwell people. (Barnwell, S.C.) 1884-1925, December 13, 1894, Image 4
■
CLEVELAWS MESSAGE.
THE FATAl; FAULTS OF OUR AWK
WARD FINANCIAL SYSTEMr
Ntato nanfcn Krronininmlrd anil Honrt
laane »afan«1«>«l—»rrr«tary Cartlala'a
Plan to Kondar tha Cnrranejr Mora Mai-
Ibla Kndoraad by tha I'raaldent.
Wa8H1N(iton. Dim'. r».—The follow
ing is ft syiiojtaiiroJ Prrsidont Cleve
land's Menage which waasetft to Con
gress on last Monday:
To theX’ongress of the Unittsf Whiles:
The naaemolttge withitt. jili* nation’s
legislative WlIs of those cliarg.sl with
the duty of making laws for tl»e lame
nt of a generous and fn'e people, im-
prewivcly suggests lh<^ totadiug ohli
gation and inexorable n»spohsibnUy
-rnvolrfsl in their task Alike thr^h
old of such lalmr now to be under
taken by the Congress of the United
States, and in the discharge of nn cx-
ecutlve duty enjoined by the Consti
tution containing a brief statement of
the condition of our national ntfairs
snnm'omincmTrng slicti hjgfslatton
as seems to me necessary and expedi
ent. The history of our recent deal
ings with other nations and our peaee-
ful relations with them at thistime ad
ditionally dsmonstrate the advantage
of consistently adhering to a firm but
just foreign policy, free fmm envious
or amhitimw national schejnes and
characterized by entire honesty and
sincerity. During the past year pur
jmantto a law of Congress, commis
sioners werooppoiuted to tke Antwerp
Industrial Expedition. Though the
participation of Auierican exhihihirs
fell farshort of completely illustrating
our national ingenuity and industrial
ihirvemcntJi, yet it Avas quite emht-
‘e in view of the brief time ^llovved
preparation.
The message tmits lirst of our for
eign ndatiohs. and disapproves of tlu 1
situation arRamba, (rritmllie the |ii«r
ent jieace to ls“ unstable, au<l_ recoin-
mending our withdrawal as soon a*
jaissihle from our connection with
the affair. Hr calls attention to the
good service of our aMps aTltU) (liT.tir
neiro, and to the termination of cer
tain treaty arrangements Mween this
country and Brazil under the new tar
iff; also to the signing of a new treaty
with China. He eoniWPiits upon the
danger to our pctiple resident m Chi
na during the Japan-China war, and
would he**d any intimation that our
aid would lie acceptable in terminating
hostilitiies. He calls attention to'
trade differences with Germany grow
ing out of our tariff on sugar, and re
■ coi mien(1 s theTPpatf'nf the rHif-tenOr
of one jier cent. tax. He recommends
the acceptance by this country of the
award of the Paris tribunal in the
Behring Sea controversy, and the
prompt payment by this country of the
>425 000 in full payment of all claims
of Great Britain. He reviews the
Blueilelds incident at some length and
sets forth in familiar manner our re
lations with the various foreign ]m»w-
ers.
The President shows a great appro
ciation of the citizen soldiery of the
several States, and after commending
Secretary Lament s plan for reorgan
ising the regular army, he says: “The
report* of the militia inspections by
regular army officers show a market
increase in interest and efficient v
ig the State organizations, and I
iglv recommend a continuance of
tional board of health and national
quarantine regulations. With refer
rnce to the ton If Pmudapi Ckvcl
expresses a mild interest in free coal
and iron, and declares in favor of
striking out the sugar differential du
ty which enriches tlie trust, and em
liaiTnases our foreigfi commerce,
is strongly in favor of free shijm.
REt'KJITH AND DIHHURSEMKNTS.
The Secretary of the Treasury re
ports that tl»e receijit* of the govern
ment from all sources of revenue dur
ing the llscal year ending June 30,
1804, amounted to ♦J72,ff02,-U>H.29,ftnd
it* bxpenditures to >442,605,758.87,
leaving a deficit of 269,803,260.58.
Xliere was a decrease of if 15,952.674.66
in the ordinary enpense* of the gov
ernment as compared with the fiscal
year 1893. Then? wa* collected from
customs #131,818,530.62 and from in
ternal revenue 2147,168,449,70. The
balance of flip income for the year,
amounting to 293.81B.5t7.97. was de-
riveit from tlie sales of lands und oLher
>m- 156.16 for the supiMirt or tne military tion of Uie new claims tiled are for m-
Hb pstabrishmeht, 15,001,682.23 for mis- crease of pension by those now on the
among
strongly recommenc
the policy of affortling every practMja
encouragemeut gsmsible to'flu* inifior
taut auxiliary of our military estab
lishment.”
The President warmly commends
the work of the Circuit Courts of Ap
peal, and favors the addition of anoth
er judge in each district. He also fa
vors a united States -Court for the In
dian Territory. He urges the settle
ment of the Union Pacific Railroad
matter by this congress in some way
that will take the. road out of the
Tiands of the recPlVTT us spil'dily w
possible.
The President rt‘|>eats his former re
commendations in favor of govern
ment prisons for government prison
ers, and everybody will endorse his
approval of the Secretary of War’s re
commendation that the present milita
ry prison at Eort Leavenworth be
turned over to the governiiiefit for the
imprisonment of Federal convicts.
There is no demand for a special pen
itentiary for memliors of the army,
and Mr 1 amontdeclares that it can l>e
turned over to the government for
other purposes with an actual saving
of money to-the War Department.
The President cordially endorses the
recommendation of Postmaster Gen
eral Bissell with reference to restrict
ing or remodelling the law with rr
ference to second class matter in the
mails. This privilege pro{>crly allowed
by the government for the distribution
of newspapers to the people, is taken
advantage of by advertising sheets and
by trashy novels, and for tne distribu
tion of tons of garden seeds,- so that
the Postmaster General declares that
if these abuses were corrected then*
would not ..only cease to lion deficit
in tlie Postdffice Department, but that
legitimate newspapers could lie dis
tributed through the mails free.
President Cleveland favors addi
tional shins and torpedo .boats for the
navy, ami the continuing of work on
our coast defence. He urges u revision
of tils lineofthe navy, and the passage
of laws that will make it jiossible f^r
faithful members to receive nroiyo-
tions that will create a corps iVesprit
that is now badly needed. The Presi
dent does not believe in pushing the
a uestion of allottments of land to ln-
ians too fast, and thinks if old farm
ers are crying hard times, it is not to
be expected that Indians can begin
farmingand make'a living. He agrees
with the Secretary of the Interior
X inst the sale of lands remaining
-r an apportionment, until it shall
have developed by'experiment'that
the Indians were ready lorallottment.
He commends the exposure of “pen
sion frauds, and it is believed by the
commissioner of pensions that the year
of 1895 will see high water mark in
the number of pensioners. After, the
tiiirtieth year it is estimated that the
number must begin to decrease. The
eleventh census enhuled an expense
of over ten millions lost year. It will
comprise when completed 25 volumes
of 22,270 pages. The Agricultural
Department seems to liave made sub
stantial savings from its appropriation
without detriment to the service.- 'The
President concurs in the Secretary's
recommendation that the free distri
bution of seeds cease, except to experi
ment stations, and that the agricultu
ral reports be greatly limited in man
her.
The President stands yzarmly to the
support of the Civil Service. He re
commends the appointment of a na
sources, /
~ Tlie value of our dutiable imports
amounted to 2275,209,086. being 2146.-
657,625 less than during the preceding
year, and the importations fn'e of du
ty amounted to 2379.795.536. being
264,748,675 less than during the ptv-
<‘ceiling year. The receipts from cus
toms werti 273,536,468.11 less.and from
internal revenue 213,836.539.97 less
than in 1893. The-total tax collected
from distilled spirits was 2S5,259,25<i.-
25, manufactured tobacco 228,617.898,-
62, and on fermented liquors 231,414,-
^88.04. Our exports of merchandise,
domestic and foreign amounted dur
ing the year to 2892,140,572, Being an
increase over the proceeding year of
214,495.378.
The total amotmt of gold exported
during the fiscal year was 276,898.061,
as ftgmnst 2108,680,444 during the lis
cal year JNVS. Tlie amount imported
wiMtW,449,119, as against 221.174.381
during the previou$r year. The im
ports of silver were 213,286,552, and
the exports were 250.451,265.
r Tire total Tidiility jAlffTipori Ttio pm-
duetion of sugar in the United States
for the fiscal year was 212,100,208.89,
being an increase of 22^5^078,01 over
the pay ments .made during the pre-
ceding year. The amount of Isiunty
paid m>m July 1, 1894, to August 28,
1894, the time when further payments
ceased by operation of law, was 2966,-
185,84. The total expense incurred in
the payment of the bountyirpon sugar
during the fiscal year was 2130,140.85.
It is estimated that u]Km the Iwsis of
the present revenue laws, the receipts
oftij.0 government during the current
Irtcal year ending Jmie 30. 1895, will
lie 2424,427,748.44, and its eX|M'iidi
tomai .2:14 J, 427.748.44, rosuHiiig^Jn
deficTt of 220jwo,-0txt. —
• HOMKTIHNO about silver.
On the first day of November, 189t,
the total stock of money of all kinds
in the country was 22,240,773,888 as
against .22,204,651,OOO on the first day
of Nox’ember, 189J1, and the money of
all kinds in circulation, ornpt inclu
ded in the Treasury holdings, was 21,-
672,093,422 or 224.27 yvr capita upon
an estimated population of 68,887,000.
At the same date there was held in the
Treasury gold amounting to 244,015,-
177.55, and silver bullion which was
purchased.at a cost 2127,779,988. The
purchase of silver bullion under the
act of July 14, 1890, ceased-oh the
first day of November, 1893, and up
to that time there Irad been purchased
during the fiscal ycai* 11^917^658.76
fine ounces at a cost of 28,715,521.32,
average, cost of 20.7313 per fine
«, The total amount of silver
an
oimee. Tlie
purchased from tlie time that latt r took
effect until the repeal of its purehas
ing clause on the date last mentioned
was 2168,674.682.53 fine ounces, which
cost ffSS.dfJtt,002.-2*7 the average- price
per fine ounce being 0,944, Tne tota
amount of standanl silver dollars
coined at the mints of the Unite<
Staff's since Uie passage of the wt of
February 28, 1878' is 2421,776,408, of
which 2378,166,793 wen‘ coined under
the )>royisi»ns_of that act, 238,531^143.
under Uie provisions of Ihe iWUnf duty
14, 1890, and 25,078,472 under the act
providing for the coinage fif trade l>nl
lion. The total coinage of nil me tab
at our mints during the last fiscal
year, consisted- of 63,485,220 pieces,
Valued at 2106.216,780.06, of wliieh
there were 299,474,912.50 in gold coin
ed, 2758 in standard silver doHors.
26,024,140.30 In subsidiary silver coin
and $716,919.26 in minor coin
During the calendar year, - 1893, the
production of precious metals in the
United States was estimated at 1.739,-
323 fine ounces of gold of the coin
inercial and coinage value of 235.955,
IKK), and C0,0(KI,(KK) fine ounces of
silver of the bullion or market value
of >46,800,IKK), and of the coinage va
ue of 277,576,000. It is estimated that
on the first day of July, 1894, the
stock of metallic money in the United
Stall's consisting of coin and bullion,
amounted to 21.250,640,958, of which
2627.923.201 was gold, and 2024,347,-
757 was silver.
Fifty national banks were organized
ditfing the year ending October 31.
1894, with a capital of 26,285,(KK), and
seventy-nine withaoupital of 210.475,-
(KK),went into Voluntary liquidation,
Twenty-one banks, with a capital of
22,770.000, were placed in the bands
of receivers. The total number of na
tional bRnks in existence on the 31st
day of October last was 3,756, being
forty less than on the 31st day of Oc
tober, 1893. The capital stock )»aid in
was 2672 671,805, being 29.678.491 less
than at tlie satne tinle in the previous
year, and the surplus fund and undi
vided profits, less expenses and taxes
paid, amounted to $834,121,082,10,
which was 216,089,780 less than on
October 31, 1893. The circulation was
decreased 21,741,563. The obligations
of jho banks to each other were in
creased 2117,268,334 and the individ
ual - 'deposits were 2277,294,489 less
than at tlie corresponding date in the'
previous year. Ixmns and discounts
were'2161,206.923, more than at the
same time the previous year, and
checks and other cash items were 290,>
349,963 more. The total resources of
the banks at the date mentioned
amounted to 23,463,922,05 as against
23,109,563,284.36 in 1893.. —
^ THE ARMY.
From the report of the Secretarv of
r ar it appears that the strength of
the army on September 30, 1894. was
2,135 enlisted men. Although tins is
apparently a very slight decrease com
pared with the previous year, the act
ual effective force has, been increased
to the equivalent of nearly two regi
ments through the reorganization of
the system or recruiting, and the con
sequent release to regimental duty of
the large force of men' hitherto serv
ing at the recruiting deposits. The
atiolition of these deposits, it is pre
dicted, will further more effect an an
nual reduction approximating 2250,-
000 in the direct expenditures, besides
promoting generally the health, mor
als and discipline of the troops.
The total expenditures for the War
ent for the year ended June
30y1894, amounted Id *58,039:009.34.
Of this sum $2,000,614.99 was for sala
ries and contingent expenses, $23,665,-
156.16 for the support of the military
celluneous objects and $25,371,555^96
for public works. This latter sum - in
cludes $19,494,037.49 for river and ha-
bur improvements and $8,947,813.56
for defense. The appropriations for
the current year aggregate $52,429,-
112.78, and the estimates submitted by
the Secretary of War for the next fis
cal year call for appropriations
amounting to $82,318,629.59.
POSTAL OPERATIONS.
The report of the Postmaster Gen
eral presents a comprehensive state
ment of the operations of the Postoffice
Department for the , lust fiscal year*
Tlie receipts of the department during
the year amounted to 275,(l80.479jM
and the exjieiulituresto $84,324,414.18.
The transactions of the postal service
indicate with barometic certainty tlie
iluctuations in the business of the
country. Inasmuch, . tlierefore, as
business complications continued to
extsf Throughout the last year to air
unforeseen extent, it is not surprising
that the deficiency ofTevenue to meet
the expenditures of the Postoffice De
partment, which was estimated in ad
vance at about 28,OffO,(KK), should be
exceeded by nearly 211250,000.
Tlie total nunaher of postolfices in
tlie United States On the 30th day of
June 1894, was 69,805, ^n increase of
1,403 over the preceding year. Of
tlii'se, 3,428 were "Presidential, an in
crease in that class of * sixty-eight
over the ‘preceding year, btiiuhundred
and ten cities and towns are provided
with free delivery. Ninety-three other
cities and towns entitled to this service
under the law have not been accorded
it on account, of insufficient funds.
The expense of free delivery for the
current fiscal year will lie more than-
212,300,000, and underexisting legisla
tbh
rolls. The number of oertiffcaUi is
sued was 80,$19. The numbers of
names dropped from the roll
80.213. The names dropped from the
rolls forall causes dunng the year
numbered 37,961. Among our pen
sioners are ninewidows and three
daughters of soldiers of the Revolution
and forty-five survivors of the war of
1812.
THE BOND ISSUE.
During the last month the gold re
served in the Treasury for the purpose
-of redeeming the notes of the govern
ment circulating as money in the
hands of the people became so reduc-
ed, and its further depletion in the
near future seemed socertatn. that in
TtiTn tms ITMTI nf PTpenffitTiTc is subject
to constant increase. The estimated
cost of rural free delivery generally is
so very large, that it .ought not to be
considered in the present condition of
affairs. During the year 83(1 addition
al domestic money order offices were
established. The total number of
these offices at the close of the year
was 19.264. There were 14,304,041
money orders-issued during thC’year,
lieing an'increase over the preceding
year of 994,306. Tlie value of these
all sensible human calculation m
highest limit of the Mlftion roll,
that after Jhat year it must begin to
dine. The claims oending in the
reau have decreased more than $90,-
00$ during the year. A large propor
tion of the new claims filed are for in-
eireolation—thus permitting such in
crease or reduce of reduction within
the limitof 75 per cent of capital tobe
quickly made as emergencies a" 5 ‘
In additional to the guantee fund re-
J iuied it is proposed to provide a safety
und for the immediate redemption of
the circulating notes of failed banks
by imposing a small anrurtd tax, say
one-half of 1 per cent, upon the aver- — —.—•— ,. «inmic-
age circulation of each bank until the something
fuud amounts to 5 per cent, of the K>ns were ccmflnned y
total circulation outstanding. When ing. a_ revolver^m ^wk-t.
the exercise of proper care for the
public welfare it became necessary to
replenish this reserve and thus main
tain popular faith in the ability and
detenmnation of the government to
meet, as agreed, -its pecuniary obliga
tions. It would have been well if in
this emergency authority had existed
to issue the bonds of the government
bearing a low rate of interest and ma
turing within a short period. But the
Congress having failed to confer such
authority, resort was neceesarily had
to the Resurilptipn Act of 1875 and
pursuant to its'provisions bonds were
issued drawing interest at the rate of
5 per cent, per annum and maturing
ten years alter their issue, that being
the shortest time authorized by the
act. I atti glad to say, however, that
on the sale of these bonds, the premium
received operated to reduce the rate of
interest to be paid by the government
to less than 3 per cent.
Nothing could be worse or further
removed from sensible finance .than
the relations^xisting between the cur-
rency the governmem has issued;
gold held for its redemption and the
means which must be resorted to for
of the contributing banks. As a fur
ther security it is contemplated that
^ ' ^ " lug theindi-
dders is to be
retained and the bank’s indebtedness
lUMeount of its circulating notes is
For the purpose of meeting the ex
pense of printing notes, official super-
vison, cancellation and other like
charges, there shall be imposed a tax
of say one-half of 1 per cent, per an
num upon the average amount of
notes in circulation. It is further
provided that there shall be national
hank notes issued of a less denomina
tion than ten dollars; that each nation
al bank except in case of a failed bank
shank shall redeem or retire its notes
in the first instance at its own office
or at agencies to be designated by it,
and that no fixed reserve need be
maintained on account of deposits.
Another very important feature of
this plan is the exemption of State
hanks from taxations by the United
States in cases where it is shown to the
satisfaction of the Secretary of the
Treasury and ComptrolleT of the Cur-
rency, by banks claiming such exemp-
orders amounted to 2138,793,579.49, an
hiorease of. 211,217,145.84. There
were also issued during the year postal
notes amounting to 212,649,094.55.
a During the year 218 international
wiinnry"'«jtougii," vVR'httVe by ar
to those already established, making a 1 - ...
>f 2,625, of such offices in opera-
total «
tion June 30, 1894. The number of
international money orders issued dur
ing the year was 917,823. a decrease in
number* of 138,176, and their value
was 213.792.455.31, a decrease in
amount of 22.549,382.55.-The number
fff orders paid was 361,180, an increase
pver the preceding year of 60.203, and
their value was >6,-668,493.78, an in
crease of 21,285,118.08. From the fore
going statements it appears that the
total issue of money orders and postal
notes for the year amounted to $165,-
235,129.35. Tlie number of letters and
packages mailed during the year for
s|>ecial delivery was 3,436,970. The
special delivery stamps used upon
these letters and packages amountet
to 2343.697. The messengers'.fees paic
for their delivery amounted to 2261,-
209,70, leaving a balance in favor o ’
the government of 282,487,30. The re
port shows most gratifying results in
the way of economies worked out with
out affecting the efficiency of the pos
tul service.
There are now connected
postotlice establishent 32,661 employ
who are in the classified service. T
includes many who have been classified
upon the suggestion bf the Postmaster
Genehil. He states that another year’s
experience at tlie head of the depart-,
ment senes only to strengthen the
conviction as to the excellent iVorkin
the purpose of replenishing ,such re
demption fund when impaired. Even
if,the claims upon this fund were con
fined to the obligations originally in
tended and if the redemption of- these
obligations meant their cancellation,
the fund would be very small. But
these obtigationswhen received and {their circulatin
redeemed in gold are not cancelled but
are re-issued and may do duty many
times, by drawing gold from the
Treasury.» Thus we have an endless
chain in operation, constantly deplet
ing the Treasury’s gold and never near
a final rest. As if this was not had
•y
ration that it is the policy of the gov
ernment to maintain the parity be
tween gold and silver, aided the force
and momentum of this exhau^ing
process, and added largely to the cur
rency obligations claiming this pecu
liar gold miemption. Our small gold
reserve is thus subject to drain from
every side. The demands that increase
our danger also inrease our danger
also increase the necessity of protect
ing this reserve gainst depletion, and
it is most unsatisfactory to know that
ieq is only a tern
r i
<
.. i nQt for a moment believe that any
with the our citizens are deliberately will
ees
his
l
of the cilvil service law in this branc
of the public service.
^ PUBLIC LANDS AND PENSIONS.
Tlie public land disposed of during -
the year amounted to 10,406,100.77
acre’s, including 28,876.05 of Indian
lands. It is estimated that the public
domain still remaining'amounts to a
little more than 6(K),000,000 acres, ex
eluding, however, about 360,(KK),000
acres in Alaska, as well as military
reservations and railroad and other
selections of land yet -uhadjudicated.
The total cash receipts from the sale
of lands amounted to 22,674.285.79, in
eluding 291,981.03 received for Indian
lands. Thirty-five thousand patents
were issued to Indians an allotments
of their holdings in severalty. The
land so allotted being inalienable by
the Indian allottee and for a period of
twenty-five years after (latent, there
were certified and ]>atented on account
of railroad and wagon road grants
during the year 865.556J5 acres of
land, and at the clpsa. of the
year ^9,000,000 acres were em
braced in the lists of selections by rail
road and wagon road companies and
awaited settlement The selection of
swamp lands and'that taken as indem
nity therefor since the passage of the
act providing for the same in 1849
amount to nearly or quite 86,000,000
acres, of which 58,000,000 have been
jiatented to States. Abut 138,000 acres
were patented during the last year,
Neraly 820,000 acres of school and edu
cational grants were approved during
the year and at its close 1,250,363.81
acres' returned unadjusted.
At the close of last fiscal year on
the 30th of June, 1894, there were 969,-
544 persons on our pension rolls being
a net increase of 3.532 over the num
ber of reported at the end of the prevL
ous year. These pensioners may be
lasslfied as follows: Soldiers and
sailors, survivors of aH wars, 753,968,
widows and relatives of deceased sold
iers 215,162,army nurses in the war of
the rebellion 414. Of these pension
ers 32.039 are surviving soldiers of
Indian and other wars prior to the late
civiLwar, and the widows or relatives
of such soldiers. The remainder, num
bering 937,505, are receiving pensions
on account Of the war of the rebellion
and of these, 469,344 are on the rolls
under the authority of the act of June
27, 1890, sometirnes called the depen
dent pension law. *
The total amount expended for pen
sions during the year was $139,804,461,
leaving an unexpended balance from
the sum appropriated of $25,205,712.
The sum necessary to meet pension
expenditure for the year ending Juna
30. 1896, is estimated at $140,000,000,
The Coramissioper of Pensions is of
the opinion that the year 1895, being
the thirtieth after the close of the War
of the. Rebellion, must according to
financial
to a silver Jiasis. At any rate I should
not feel tliat my duty was done if
omitted any effort I could make to
avertsuch acalamity. As long, there
fore, as no provision is made for the
final redemption or tjje putting aside
of the currency obligation now used
to repeatedly and constantly draw
from 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 sufficient 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
tures. Prominent among than
the protection afford'
porary palliative.
It is perfectly and palpably plain
that the
ditions
dangerously depi
ed is through the issue and sale of the
bonds of the government for gold and
yet Congress has not only thus far de
best suited to such a purpoee, but there
seems a disposition in some quarters
to deny both the necessity and power
for the issue of bonds at all. I can
of
that their government should
i
an
defau
in its pecuniary obligations or that its
•ial operations should be reduced
fea
among theta are
the lack of elasticity in"our currency
ity
circulation and its frequent concentra
tion in financial centers when it is
most needed in other, parts of the
country. The absolute divprcement
of the government to the currency’ of
the country is advisable. This con
dition cannot be immediately reached;
but as a step in that direction and as a
means of securing a more elastic and
obviating other objections to the pres
ent arrangment of bank circulation,
the secretary of the Treasury presents
in his report a scheme modifying pres
ent banking laws and providing for
the issue of circulating notes by State
banks free from taxation under certain
limitations. The Secretary explains
his plan so planinlyand its advantages
are developed by him with such re
markable clearness that any effort on
my part to present arguments' in its
support would be superfluous. I shall
therefore content myself with an un
qualified endorsement of theSecretary’s
proposed changes in the law and a brief
and imperfect statement of their
prominent features:
It is proposed to repeal all laws
providing tor the deposit of Uni
ted States bonds as security for
circulation, to permit national banks
to issue circulating notes not exceeding
in amount 75 per cent of their paid
up and unimpairedjcapital, provided
they deposit with the govern
ment as a guarantee fund in
United States legal tender notes
and including treasury notes, of
1890, a sum equal in amount to 30 per
cent, of the notes they desire to issue,
his deposite to be maintained at all
times, hut whenever any bank retires
any party of its circulation a pronor-
ional part of its guarantee fund snail
* returned to it to permit the Secret
ary of the Treasury to prepare and
ceepbn hand, ready for issue, in case
an increase in circulation is desired,
dank national bank notes for each
lank having circulation, and
repeal the provisions of
present law imposing limitations
and restrictions upon banks de-
esiring to reduce or increase
£
»g.
a bank fails its guarantee fund is to
fc paid into this safety fund and its
notes are to be redeemed in the first
instance from such safety funds thus
authorized ;\any impairment of such
fund caused thereby to be made good
from the immediately available cash
assets of said bank and if these should
be insufficient such impairment’to be
made good by pro rata assessment
among the other banks, their contri- od and ,is v
butions constituting a first lieu upon
theaaaetiLofths fatiedhankJn Javor
Millie Leigh grabbeef her father’s shot
gun and ordered the nf^re out. Bean
fired but missed. Millie fired but the
gun failed. The negro ran out and
roand to a window. Here the girl
fired at him and he again at her. Two
hours later the body of the father was
found, hisskull crushed and his body
stabbed in pine plaeea A search W
being made for the negro, who escap
ed and ,is suppossed to have gone _
down the Chattahoehee River m a M
boat - It is supposed he had an accom
tion, that they harenot had outstanding
their circulating -notes exceeding 75
per cent, of their paid up and unim
paired capital; that their stockholders
are individually liable forthe redemp
tion of their circulating notes to the
full extent of their ownership of stock;
that the liability of said banks upon
their circulating notes constitutor un
der their State law a first lien upon
their assets; that such banks have
kept ami maintained a guarantee fund
in United States legal tender notes,
including Treasury notes of 1890,
equal to 30 per cenf. of their outstand
ing circulating n ' ’
‘firtrrrfpaT
It is likely that
usefully amended in some of its de
tails, but l am satisfied it furnishes a
basis fora very greuit improvement in
our present banking andicurrency sys
tem.
I conclude this communication fully-
appreciating that the responsibitity
for all legislation affecting the people
of the United "States rests upon their
representativas in Congress, and as
suring them thatwhether in accordance
pith recommendations I have made or
rttit, Lshall be glad to co operate in
for that which
not, i snail oe gtau l
perfecting legislation
tends to tne prosperit
MmiSaror
0*.. t-Abcnt mid-
told him oneof his croppers "M very
rick and wanted medicine. Deigh
went with the
later Bean returneu and asked for Mr.
later Bean return^ —— . ,
or Mrs. Leigh. The woman suspected
- * —and her
TUi Cwtifeate it 6Ni
FOR 41.00
IF PROPERLY SIGNED.
Oir PMpwtttoE,
Cut this Certtfffcate out and
with M cent* tn an envelope with your
name and address plainly written. We
will send i on me set of our $1 00 Gennli
enclJ^P
l z
plice.
BcfUaed * Gift of S300.
New A ore, Dec. 5.-A dispatch ti>
the Evening Poet from Raleign, N.
C., says: Washington Duke of the
American Tobacco Company,
of tlieDtilre Cigarette “ orra
at Durham, sent $300 to the North
Carolina Conference of the Methodist
Episcopal Church, South, which has
been in session at StatesvjUe, N. C.,
for a week past, towards defraying the
expenses of the conference. Tlie Rev.
Mr. Wtm of Reidsville, and some
other members of the conference, pro
tested against the acceptance of the
gift of which they termed “trust
money,” and at a meeting of the board
of stewards of his church, Mr. Ware’s
action was approved. It is claimed
that the trust having the only buyer
on the tobacco markets who buys cut
ters used in the manufacture of ciga
rettes, the price of that grade of tobacco
has been forced down so low that it’s
impoverishing the farmers who grow
it
Stiver Plated Tea Spoons FREE by mi
with our larse Illustrated cata-
Initue of Furniture, Cooking Move*. Crock
ery, Baby Carriages, ■‘■swing Machines,
Buggies, etc . and will sign this certifleats
and return t jon wHh catalogue, and we
herewith agrre to receive this certtflcate aa
rnd flonair ewi wn any rwchase made i
Ithut ll d*)* frem the date or eedorte-
ment oj this ce tlBcate, b'bvidfd "that tlie
UnmALbr patrtii*e shall not be tar bn
than 00. and must positively reach us
tnsHe «f-4S- d*y* frow date
Tha Data Fixed..
Columbia, S. C., Dec. 7.—Last night
the Reform members of the General
Assembly met in caucus to receive the
report of the caucus committee ap
pointed Wednesday night to arrange
the details for the holding of the com
ing Constitutional convention. As a
result of the report and discussion the
caucus decided that the day for the
election of delegates, should be the
third Tuesday in August, and that the
day for the convention to assemble
should he the second Tuesday in Sep}
tember next. The caucus agreed on
the Efird Senate bill, providing for
special election machinery, etc., as
* e best plan. Of course three dates
***4 plRns are now as good asadopted
this scheme may be Warning to the Detente*.
Washington, Dec. 6.—The Repub
lican Congressional committee has
sent out a significant letter in regard
to contested seats in the next Congress.
There are upwards of thirty districts
wherein defeated Republicans have
indicated their intention to filing con
tests. The committee has addressed to
each of these contestants a statement
notifying him that he must not place
any reliance on the large Republican
majority in the next Congress, but
must rest his prospects for success on
the merits of tne claims he advances,
prosperity and walfare of I Probable contestants are advised not
to file their papers unless able to rein
foree them with testimony of the most
unimpeachable character.
Grover Cleveland.
Mansion, Dec. 3, 1894.
ADDRESS TO DEMOCRATS.
Non-Purl I»»u Conutltuttonal Oowrentloi
Ailvocatrd Its Importance Set Forfh.
To the Democratic Voters of South
Carolina:
In the progress of the eform move
ment we liave reached a critical peri
od in the history of the State. All of
the essential demands of that move
ment may properly be regarded as ac
complished facts, and having been ac-
cepted by the people should no longer
be a cause of irritation and dissension.
The constitutional convention alone
remains to be acted upon by the peo
ple, and it is unfortunate that they
are in such a state of mind as to pre
vent many of them from seeing the
situation from an impartial and non
partisan standpoint. As it is useless
to discuss the cause or causes which
led to this state of affairs we will look
only to the future and leave the dead
past to bury its dead.
Every intelligent mind which is ca
pable of realizing the good that can
oe accomplished, and the great harm
that may be done to our State and
people ny a sovereign body like a
constitutional convention ; every one
who sees and feels the necessity and
importance of securing the unity of
our people and white supremacy by a
Well regulated suffrage, without dis
franchising a white voter;, every pa
triotic citizen who is aware of the ills
and evils afflicting and threatening
the body politic, whether of a social,
political, financial or industrial char
acter, toll retulily admit that some
thing ought to be done to correct the
evils briefiy alluded to and to secure
the' good so easily withiii our reach.
Therefore, we, the undersigned Re
formers, having only these ends in
view, and desiring nothing but the
unity and harmony of our people, the
highest and best interests of our State,
the progress and development of her
social, industrial and political inter
ests, do hereby call upon all of our
Democratic citizens who sympathize
with these views and are willing to
abide the results of the Reform move
ment to earnestly consider the import
ance of a non-partisan convention,
composed of the wisest and best men
of both factions, and to take such ac
tion as is deemed best to secure it
(Signed:) J. Townes Robertson, A.
C, Fuller, D. K. Norris’ J. E. Petti
grew, Thos. J. Kirkland, T. P. Mitch
ell, J. E. Tindal, L. M. Ragin, W, C.
Davis, J. W. Kennedy, T. S. Price,
John R. Harrison, B. F. Miller, J. M.
Hough, J. T. Douglass, C. R. D. Burns,
John T. Bramlett, J. E. Ellerbe.John
G. Williams, J. B. Suddath, P. B.
Waters, J. W. Ashley, J. M. Whit
mire, J. F. Lay, 8. Y. Stribling, Ze-
rah Hammett, C. R. Wallace, H. P.
Goodwin, A. T. Newell, John B. Lev-
erett, T. B. Stackhouse, W. B. Love,
Gopfrey B. Fowler. J. T. Duncan, W.
W. Smith, B- M. Shuman, J. D. Sul
livan, L. M. Wilson, J. R. Earle, D.
E. Finley. . '
— .**>.
Poisoned her Children.
Galveston, Tex., Dec. 6.—Mrs.
Louis Alberfa, wife of a well known
butcher, was arrested yesterday at the
instance of her relatives on the charge
of insanity. Her arrest is the result
of the poisoning of her five children
by her hand. * Four of the children
are dead. The fifth, agirl of 16 years,
their jmay recover. - ,
Will Kodneo the Aerengo.
Greenville, Dec. 3.—Today the
farmers of the county held a meeting
in the court house, which was largely
attended. The meeting was very en
thusiaggjic in endorsing the action o ’
the cotton growers convention o’
Montgomery. Resolutions were unan
imously adopted, requesting the grow
ers to appoint delegates to attend t
convention at Jackson, Miss. Speech
es were made and resolutions adoptei
urging a large reduction of the cotton
acreage.
NEYER
A
DELAYED
PAYMENT.
NEVER
COMPROMISED
A -
CLAIM.
NEVER
HAD
A
LAWSUIT
Sack Is the record of the
STAUNTON
INSURANCE
COMPANy,__
i
Numbers of Beneficiaries Testify
Promptness and Soundness.
Natural Premium Insurance on the
Approved Plana
j ' / •
The new ‘'Coupon Poffcy” of the Staun
ton Life Is a modal of simplicity;"' In add!
Uoa to all ths best features of modern life
Insurance It provides for the payment of
the ‘coupon” IMMEDIATELY after
death, without notice or the formali
ty of proofs. The ‘‘coupon" covers 19 per
cent of the faee of the policy, and is In ad
dttton thereto. ' —
Agents wanted. Liberal Commission.
U91-91 can make big money.
Address
Jno. & Reynolds,
ft
stamped on certificate returned to you.
Fill out the following blank with pencil.
[Ink will blur]
F. .PADGETT,
849 B’oad 8tieet,
pgaaaawguiiisL, ^ . n
Enclosed find 2) cents stamps or silver,
for which you will pieaoe M-nd to my ad-
Ores* on* set of your $1.00 genuine Mlver
Plated Tea Spoons arid your illustrated
Catalogue, free, by mall; also please en
dorse this certificate and date It the date
that you mall spoons and catalogue, so that
Tmay. If I so desbe. use this certificate at
your st re for one dollar cash In a purchase
of not less than $15 00, which is to be made
Inside of 15 days fiom date stamped or
written on certificate returned to me. I
fully understand that this certificate is of
po value unless above conditions are fufly
compiled .with,
My name is
P. O. Is
State
Received st Augusta Georgia, “
aud goods mailed
L. F. PADGE IT,
846 Broad Street, Augusta, Ga.
By
PMrTMTSTRFnmt
SM kH
ugl
KflfcS'i
RICE MILL*.
We eff'r a complete Rice Mill in
one machine. lb« rough rice fa
placed in hopper and condea out
cleaned and p-fflabed r ady tor As*
b’e uae. Machine can be openUd
with horse power and will daan
100 boshels of rough rile per