The Laurens advertiser. (Laurens, S.C.) 1885-1973, July 04, 1893, Image 1
FREE SILVER ABANDONED.
STARTLING ACTION OF TUB OOV*
KHNMKNT OF INDIA.
Free Coinage of Silver l>lecontlnnod
and the Gold Standard Introduced.
London, June 26.?In the House of
Lords to-day the Earl of Klmberly.
stated that the India Counoll hau
{>assed an act for the immediate ojos
ng of the Indian mints to the free
coinage of silver. He added that
arrangement* are being made to issue
rupees from the mints in exchange
for gold at the rate of sixteen ponce
per rupee, and for receiving sovereigns
and half sovereigns at the treasuries
in payment of dues at the same rate.
The Earld of Klmberly further said
that it is intended to introduce the
gold standard in India, but that the
old gold in the mint will not be made
tho solo legal tender.
In the House of Commons. Mr. Glad
stone-gave information similar to that
given* in the House of Lords by the
Barlo of Klmberly. He added that
gold would not be made a tegal tendor
at present. Regaining the silver
how on the way to'? ?ndlu, Mr. Glad
stone said that the government of India
had been instructed that it was open
to'it to admit this silver to the mints if
it thought fit,
Mr. (Joschen, formerly Chancollor of
the Exchequer, asked if the admission
to froo coinage of silver now going to
India would noi establish great injury
or effect tho destruction of such nil vei
ns was in hands of natives. Mr. Go
schen said that tho value of the silver
possessed by natives amounted to 100,
000,000 rupees.
Mr. Gladstone replied that he was
not in possession of the precise infor
mation, but he assumed that the
Indian government would not made dis
criminatory arrangements to the dis
advantage of natives holding uncoined
silver. Doubtless most of the uncoined
silver referred to by Mr. Goschen was
in the form of ornaments worn by
natives.
Washington, June 26.?The Presi
dent, Secretary Carlisle and tho
financially officers of the government
goneral rocolved their first authentic
news of tho startling action of tho
government, of India in suspending
silver colnago through tho press dis
patches. There had been rumors on
tho subject earlier In the day, bv^hoy
were passed upon as rumors c'.'ly,
though their substantial accuracy
was not doubted. When the reports
of Mr. Gladstone's announcomont in
tho House of Commons and Lord Klm
berly's statement in the House of Lords
wero rocoivod, tho gravity of tho situa
tion booame at once apparent. Mr.
Carlisle Immediately went over to tho
White. House, and for nearly two hours
disoussod the bearings of this aetton
with the President without reaching
any positive conclusion as the line of
action to bo adopted. The conference
was renewed at Woodloy, the Pre
sident's suburban home, later in tho
evening, and was protracted until far
into the night.
Tho circumstances aro regarded as
too serious to permit of any authentic
expression of opinion as to the future
policy of tho United ? States until all
tho facts are fully digested. This
muoh, however, can bo stated with
absolute confidence, that the action of
tho Indian government in closing the
Indian mints to the free coinage of
silver is rogarded by tho United States
as doing away with the necessity for
reconvening the international mone
tary conferonco, which was to have
mot again in Brussels thin fall.
It is not boliovod that this action
was taken without express orders from
tho English government, which has
general supervision and control over
Indian affairs.
Washington, Juno 27.?One effect
of tho action of the government of
India has been to renew the demand
for an oarly session of Congress, and
this viow of the situation was pre
sented to Secretary Carlisle this morn
ing by many of his Congressional
callers and by numerous telegrams
from all sections of the country.
Beforo going to tho cabinet meeting,
Secretary Carlisle received a oable
f;ram from London announcing a
urthor doclino in tho price of silver to
35 pence. At this price, a silver dollar
is worth 58} cents. ?
Two hours were consumed by tho
cabinet to-day in discussing the new
phase of the silver question and other
matters demanding attention. Tho
two conferences yesterday afternoon
and evening between the President
and Secretary Carlisle simplified mat
ters to some extent. Although the
discussion, it is said, took a wide
range, it was necessarily brought back
to one important and unmanageable
point?that tho Executive had no
power in the promises, Congress alone
being able to deal with measures for
relief. It was plain to the cabinet that
the monthly purchase of silver must
bo continued, or else Congress must
be convened in special session imme
mediately.
As the President had decided to call
Congress together in tho early part of
September to deal with the financial
situation, and manifested no intention
of changing his stated purpose, tho
project of an earlier session of Con
gross, it is understood, was dropped.
So far as tho continuanco of tho pur
chase of silver bullion under the Sher
man law was concerned, it was pointed
out that little more tban two months
romained before Congress would con
vene in extra session, and that during
tho intervening time tho silver to bo
purchased would bo only 9,000,000?a
comparativey small amount, in viow
of previous purchases. That tho best
way to deal with tho question was to
await the course of events for two
months longer was generally agreed
to, and it was with this view dominant
that the mooting adjourned.
Simla, India, June 27.?In explain
ing to tho India Counoil the bill provi
ding for the stoppage of free coinago
of silver and other monetary measures,
the adoption of whieh was announced
youterday, tho Marquis of Landsdowno,
Viceroy of India, said he hoped the
?government would not be oriticizod
or disposing of an important question
at a single sitting. The keynote of
tho sehemo was rather to prevent a
further fall in the exohange than to
raise the value of tho rupee. The
fixing of the provisional rate of ex
change at Is. id. provided an automatic
means of preventing the closing of the
mints and a violent disturbing of ex
change rates. Tho rate of oxohango
has been fixed high enough to relieve
tho government of its most pressing
necessities, while it was well within
tho limits of recent fluctuations.
There should be no mistake, the
Vioeroy said, about the facts. It was
not proposed to substitute a gold for a
silver currency; no attempt would be
made at present to fix the legal tender
price for gold. While the ratio of
value was mentioned, it was only pro
visional.
In conclusion the Vioeroy expressed
the government's sense of the gravity
of tho step it was about to take. Per*
serially, he was averse to ?11 attempts
FREE SILVER ABANDONED.
STARTLING ACTION OF TUB OOV*
KHNMKNT OF INDIA.
Free Coinage of Silver l>lecontlnnod
and the Gold Standard Introduced.
London, June 26.?In the House of
Lords to-day the Earl of Klmberly.
stated that the India Counoll hau
{>assed an act for the immediate ojos
ng of the Indian mints to the free
coinage of silver. He added that
arrangement* are being made to issue
rupees from the mints in exchange
for gold at the rate of sixteen ponce
per rupee, and for receiving sovereigns
and half sovereigns at the treasuries
in payment of dues at the same rate.
The Earld of Klmberly further said
that it is intended to introduce the
gold standard in India, but that the
old gold in the mint will not be made
tho solo legal tender.
In the House of Commons. Mr. Glad
stone-gave information similar to that
given* in the House of Lords by the
Barlo of Klmberly. He added that
gold would not be made a tegal tendor
at present. Regaining the silver
how on the way to'? ?ndlu, Mr. Glad
stone said that the government of India
had been instructed that it was open
to'it to admit this silver to the mints if
it thought fit,
Mr. (Joschen, formerly Chancollor of
the Exchequer, asked if the admission
to froo coinage of silver now going to
India would noi establish great injury
or effect tho destruction of such nil vei
ns was in hands of natives. Mr. Go
schen said that tho value of the silver
possessed by natives amounted to 100,
000,000 rupees.
Mr. Gladstone replied that he was
not in possession of the precise infor
mation, but he assumed that the
Indian government would not made dis
criminatory arrangements to the dis
advantage of natives holding uncoined
silver. Doubtless most of the uncoined
silver referred to by Mr. Goschen was
in the form of ornaments worn by
natives.
Washington, June 26.?The Presi
dent, Secretary Carlisle and tho
financially officers of the government
goneral rocolved their first authentic
news of tho startling action of tho
government, of India in suspending
silver colnago through tho press dis
patches. There had been rumors on
tho subject earlier In the day, bv^hoy
were passed upon as rumors c'.'ly,
though their substantial accuracy
was not doubted. When the reports
of Mr. Gladstone's announcomont in
tho House of Commons and Lord Klm
berly's statement in the House of Lords
wero rocoivod, tho gravity of tho situa
tion booame at once apparent. Mr.
Carlisle Immediately went over to tho
White. House, and for nearly two hours
disoussod the bearings of this aetton
with the President without reaching
any positive conclusion as the line of
action to bo adopted. The conference
was renewed at Woodloy, the Pre
sident's suburban home, later in tho
evening, and was protracted until far
into the night.
Tho circumstances aro regarded as
too serious to permit of any authentic
expression of opinion as to the future
policy of tho United ? States until all
tho facts are fully digested. This
muoh, however, can bo stated with
absolute confidence, that the action of
tho Indian government in closing the
Indian mints to the free coinage of
silver is rogarded by tho United States
as doing away with the necessity for
reconvening the international mone
tary conferonco, which was to have
mot again in Brussels thin fall.
It is not boliovod that this action
was taken without express orders from
tho English government, which has
general supervision and control over
Indian affairs.
Washington, Juno 27.?One effect
of tho action of the government of
India has been to renew the demand
for an oarly session of Congress, and
this viow of the situation was pre
sented to Secretary Carlisle this morn
ing by many of his Congressional
callers and by numerous telegrams
from all sections of the country.
Beforo going to tho cabinet meeting,
Secretary Carlisle received a oable
f;ram from London announcing a
urthor doclino in tho price of silver to
35 pence. At this price, a silver dollar
is worth 58} cents. ?
Two hours were consumed by tho
cabinet to-day in discussing the new
phase of the silver question and other
matters demanding attention. Tho
two conferences yesterday afternoon
and evening between the President
and Secretary Carlisle simplified mat
ters to some extent. Although the
discussion, it is said, took a wide
range, it was necessarily brought back
to one important and unmanageable
point?that tho Executive had no
power in the promises, Congress alone
being able to deal with measures for
relief. It was plain to the cabinet that
the monthly purchase of silver must
bo continued, or else Congress must
be convened in special session imme
mediately.
As the President had decided to call
Congress together in tho early part of
September to deal with the financial
situation, and manifested no intention
of changing his stated purpose, tho
project of an earlier session of Con
gross, it is understood, was dropped.
So far as tho continuanco of tho pur
chase of silver bullion under the Sher
man law was concerned, it was pointed
out that little more tban two months
romained before Congress would con
vene in extra session, and that during
tho intervening time tho silver to bo
purchased would bo only 9,000,000?a
comparativey small amount, in viow
of previous purchases. That tho best
way to deal with tho question was to
await the course of events for two
months longer was generally agreed
to, and it was with this view dominant
that the mooting adjourned.
Simla, India, June 27.?In explain
ing to tho India Counoil the bill provi
ding for the stoppage of free coinago
of silver and other monetary measures,
the adoption of whieh was announced
youterday, tho Marquis of Landsdowno,
Viceroy of India, said he hoped the
?government would not be oriticizod
or disposing of an important question
at a single sitting. The keynote of
tho sehemo was rather to prevent a
further fall in the exohange than to
raise the value of tho rupee. The
fixing of the provisional rate of ex
change at Is. id. provided an automatic
means of preventing the closing of the
mints and a violent disturbing of ex
change rates. Tho rate of oxohango
has been fixed high enough to relieve
tho government of its most pressing
necessities, while it was well within
tho limits of recent fluctuations.
There should be no mistake, the
Vioeroy said, about the facts. It was
not proposed to substitute a gold for a
silver currency; no attempt would be
made at present to fix the legal tender
price for gold. While the ratio of
value was mentioned, it was only pro
visional.
In conclusion the Vioeroy expressed
the government's sense of the gravity
of tho step it was about to take. Per*
serially, he was averse to ?11 attempts
to give money commodities a fictioious
valuo, but the time had arrived when
to remain inactive was impossible.
The government would bo unworthy
of its name if it left things alone, ft
had not taken the momentous step
with light hearts. He hoped its action
would So fruitful in gooa results, and
that a sufficient reserve of gold would
be accumulated to make an effective
gold standard possible.
Knjrland Must Not be Allowed, to Dic
tate.
Washington, June 28.?Mr. A. J.
Warner, of Ohio, prosldent of the
American Bimetallic League, has
said: "The stoppage of the coinage
of silver in India is the Inauguration
of a new monetary revolution, or
rather the extension to the far east
of the revolution begun in 1872-73 in
the western world. It is the second
act in the same great conspiracy. It
is a movement deep-seated and will be
far-reaching in its consequences. I
look upon this action as indicating
that the gateways are closed to silver,
together with the .determined purpose
of the monometallists of this country
to repal tho Sherman net, as events
fraught with greater dangor to us than
anything thathas precedod it. England
has determined, if possible, to force
the repeal of the silver purchase law
in the United States. The dosing of
the mints of Bombay and Calcutta is a
part of the gigantic conspiracy to seize
upon the present opportunity to estab
lish Anally and forever the single gold
standard and to extend It over the
world.
" This Is the critical iunoture. Tho
turning point is now. If free coinage
was restored in the United States it
would be the end of the single gold
standard. On the other hand, if the
absolute repeal of the present silver
law in the United States can be forced
through, tho work is done. It is
deemed safer to stop coinage in India
first. The immediate consequences
will be that silver will fall and gold will
increaso in value faster than ever.
Prices will soon begin to fall in India.
The whole world will foel the con
summation of this last of the govern
ment conspiracies. Prices will con
tinue to fall everywhere as gold rises.
The end no ono can see. Every ad
vantage will inure to creditors and
creditor nations. England has set out
to subdue the world?not with arms, but
with gold, by the turning of every
thing to gold. If this movement is
allowed to run its course unohooked
thero will bo fino grinding before the
mills are done. It Is a movement big
with revolutions and is sowing the
seeds of anarchy. But will it be
allowed to run Its course ? That
depends on tho United States. If tho
United States allows England to fore
over dictate bor financial policy, as
she has done since the war, then, wo
must stand tho consequences. But if
the American people have any inde
pendence of character, they will not
do so; and it should now do evident
to everybody that tho United States
must finally act independently. The
international conference has gone with
the stoppage with tho mints of India."
How Wall Street Took the News.
New York, Juno 28.?To.Wall street
the news received from London that
the Indian governmont had determined
to close its mints to the free coinage of
silver was a complete surprise. At
first the bankers and brokers gonorally
were inclined to doubt tho accuracy of
the news, and when later cables con
firmed it absolutely the situation was
not plainly understood.
The view is expressed by bankors
familiar with Indian finances, that it
is not the intention of tho government
to make gold a legal tender at onco.
As a matter of fact gold Is to bo mado
the standard in which the silver monoy
of India is to bo measured. Tho valuo
of tho rupee, which is the standard
coin of India, is fixed at sixteen penco
English money, that is, gold.. A flat
valuo is given to the coin irrespective
of tho common valuo of silvor, and
hereafter the only silver that will bo
colnod will bo that purchased by tho
government. In this respect the new
system is similar to tho old Bland
law.
Bankors who havo studied the silver
question most carefully said yesterday
that they regard the action of tho
Indian government as a serious set
back to the silver movement in this
country. India has lately been taking
an enormous amount of silver, nearly
all of which has come from this coun
try. The weekly shipments of lato
havo been between 600,000 and 700,000
ounces. The only shipment today
will bo 30,000 ounces.
With the closing of the mints of
India to free ooinago those of only ono
country, Mexico, remain open to it.
Judging from the drop in tho prlco of
silver, both at London and In this
market, dealers in bullion apparently
formed the conclusion at once that tho
new financial policy of India, will
restrict the consumption of the metal
in that country. Silver sold In tha*
markot on Saturday at 81i cents per
ounce, and yesterday at 77 cents, but
recovered at the close to 78 cents, at
whloh price the standard silver dollar,
of which by the way, very fnw are
coined now, is worth about 60 oo*?*n.
This decline will enable the United
States government to buy next Mon
day, when it begins purchases for July
under the Sherman sliver law, some
cheap motal te? average that which it
has bought all the way down from
$1.20 per ounce. The price yesterday
was the lowest at which tho motal has
sold since the statistics regarding it
have been kept. '
As to tho ultimate outcome of this
now departure by tho English govern
ment, bankers are generally dlsinellnod
to ex press an opinion. Tho most, that
those whose opinion is worth having
would say was that in their judgment
it either meant the universal demoneti
zation of silvor or it. might provo so
radioal a step as to bring about a univer
sal reaction.
Washington, Juno 20.?Secretary
of the Navy Herbert in roply to an in
quiry as to tho silver situation and
policy of the Democratic party, ex
pressed the following views:
" I think the stoppago of the coinago
of silvor in India ]s the greatest blow
that lias been given to tho Sherman
law and to free coinage of silver. The
free coinago of silvor In India has been
pointed to as an object lesson by tho
advocates of froo coinago in this coun
try. It has been urged upon tho
farmers that India had advantage over
the United States in the higher prices
for wheat because tho currency in
India was all silvor, ignoring tho fact
that while they might get more for
their wheat in their own country, tho
price in gold was no greater and the
commodities they bought with tho
monoy they got for their wheat had to
be paid for on a gold basis ; and still
further, overlooking the loss through
tho high oxohange. It has further
been repeatedly said that the high
rato of exehange betweon India and
England was kept up by England for
tho benefit of English merchants, that
tbey might sap the vory life out of
India. Now the coinage of silver
there is voluntarily stopped with tht
consent of India, and it tumbles ovet
both these arguments?that silver cur
rency was on a system for the benefit
of England."
" Do you think the silver question
presents serious danger to the Demo
oratio party at this time ?"
" It Is a serious question, which con
ditions demand should be settled. I
think we have reached a oriels and
that the party in power will be judged
by the wisdom they show in giving the
nation a sound currency."
The Secretary further said he believ
ed the Populist party was losing ground
and that the teachings of those engaged
in it would have no influence in shaping
the future policy of the Democratic
party. He said:
" Those who advanced the untenable
doctrines of the Populists on the money
question have formed themselves into
a third party, which the Democrats
recognize as an antagonistic party.
They can no longer advocate their
theories in Democratic councils, and as
a third party they are not strong
enough tobe dangerous. That party
organization whloh determines the
nominations of Democrats to Congress
and takes part in the making of the
Presidential candidates and presidents
will adhere to sound Democratic princi
ples and stand by a sound financial
policy."
- ? ?
EXTRA. SESSION OAhhKl).
The Dato a Month Earlier than Was
Intended.
Washington, D. C, Juno 30.?The
President this evening issued the fol
lowing proclamation :
"EXBCimvR Mansion, {
"Washington, D. c, June30,1893. j
Whereas tho distrust and apprehen
sion concerning the financial situation
whloh pervade all business circles have
already oaused great loss and damage
to our people and threaten to cripple
our mercantile interests, stop tho
wheels of tho manufacturer, bring dis
tress and privation to our farmers and
withhold from our workingmen tho
wago of labor; and whereas the pres
ent perilous condition is largely the
result Of the financial policy whloh the
executive branch of the government
finds embodied In unwise laws which
must bo executed until repealed by
Congress.
"Now, thoreforo, I, Grovor Cleve
land, President of the United States,
in performance of a constitutional duty,
do oy this proclamation doclaro that
an extraordinary occasion requires tho
convening of both Houses of the Con
gress of tho United States, at the capi
tol in tho city of Washington, on tho
7th day of August noxt, at 12 o'clock,
noon, to tho end that the people may
be relieved through legislation from
present and impending danger and die
tress.
" All those entitled to act as mem
bers of the Fifty-Third Congress aro
required to take notice of this procla
mation and attend at tho time and
place above stated.
"Given under my hand and tho seal
of tho United States at tho city of
Washington, on tho thirtieth day of
Juno, in the year of our Lord ono
thousand olght hundred and ninety
three and Of the independence of the
United States tho ono hundred and
seventeenth.
(Signed) Grover Cleveland."
Tho President lofthoreat 4.20 o'elock
this afternoon over the Pennsylvania
rail road for Buzzard's Bay, Mass. Ho
will bo absent from tho cap Hal three
wooks or more, his stay depending
upon circumstances. Secretary La
mont accompanied the President as
far as New York. Tho President's de
termination to loavo tho city was only
reached this morning and his departure,
so suddenly leaves a number of impor
tant appointments agreed upon un
signed and many Senators and Con
gressmen who have recently arrived In
the lurch. It Is understood tho Presi
dent will transact only tho most ur
gent public business while at Buz
zard's Bay and what official announce
ments aro to be made will bo given out
at the executive mansion in Washing
ton.
Tho proclamation was issued at 6
o'elock this afternoon. Tho President
had left directions for the Issuance of
tho proclamation before his departure
for Gray Gablos. The determination
to call tho extra session the first wook
in August instead of the first week in
September, it is understood, was only
definitely arrived at, at this morning's
cabinet session, after giving full weight
to numerous telegrams received from
all parts of tho country urging this
course. Another consideration which
caused tho President to change his
mind was the remark made by ono of
his cabinet officers two days ago that if
tho Presldont received reasonable as
surances that there was a likelihood of
a prompt repeal of tho so-called Sher
man silver purchase law ho might be
disposed to eall Congress together
earlier than he had announced. It Is
Inferred from the faot that the Presi
dent has done so that he consldors he
has obtained tho assurances he de
sired.
Most of the- cabinet have . follow od
the President's example and' loft tho
city or aro leaving for brief vacations.
Those who remain say the President's
proclamation speaks for itself and de
cline to discuss It any further.
The Bond Settlement is Made.?
A dispatch Jrom Columbia, datod June
30, gives the following gratifying in
formation : " There is muoh satisfae
tion and roliof horo at tho action of tho
syndioato whloh purchased tho now H
per cent, bonds of this State, Issued to
rid ire six per cent, brow n consols, due
to-morrow, In to day completing tho
Kiyment to the State treasury of
,250,000, tho full amount for tho new
bonds. Tho syndicate Is composod of
the Baltimore Trust and Guarantee
Company, of Baltimore, John L. Wil
liams it. Sons, of Richmond, Va., and
R. A. Lancaster & Co., of Now York,
and their associates.
"The contract to take, tho new bonds
was made a few months ago. Payment
of tho money, however, in the midst of
the prevailing depression and string
ency was regarded as a romarkablo ac
hievement and will do muoh to rolievo
the pressure and make an easier money
markot in the State and rostoro con
fidence. It was thought hardly pos
sible that any group of financiers oould
sooure so largo a sum in the existing
conditions. The state 1b now in a posi
tion to moot her obligations promptly."
?Congressman W. C. P. Brookin
rldgo. of Kontucky, is to marry Miss
Madolino Breckinrldge Pollard, of the
same State. She was formerly a clerk
in tho interior department at Washing*
ton. On the day that Gen. Sherman
died, seeing the Hags' flying at half
mast on the public buildings, and
being told tho occasion, sho romarkod ;
"Oh. now tho llttlo devils are busy
making up the fires to rooolve him."
This so troubled tho G. A. K peoplo
in the department, who happened to
hoar it, that they secured her removal.
Mr. Brookinridge is a widower with
several grown children.
SENATOR. BUTLER'S POSITION.
He Is Working to Restore Harmony
and Good Feeling Amon?the Demo
crats of South Carolina.
The following letter to the editor of
the Spartanburg Herald will explain
itself:
Edov S. C, June 23.?Your
editorial copied in " The State " of the
22d inst, gives me the opportunity that
I might otherwise not have had of re
plying to criticisms made from time to
time, touching my action in regard to
tho Federal appointments from this
State. You say among other things.
" If Senator Butler desires to give all
of his favors to Tillmanltes he should
recognize those in good and regular
standing." Again you say?H So far as
we can sec Senator Butler doos not
want the conservatives to support him.
He seems to bo depending entirely
upon his ability to ' induce' enough
men to desert his opponent."
I assume, of course, thaWyou do not
want tojmiBrepresont me, but theabovo
idioates very clearly that you are not
informed as to what I have dono and
propose to do about tho Federal ap
pointments. YOU Will therefore he
good enough to allow mo to state my
position lor myself and in my own way.
In the first place, I had but one ap
pointment to mako in my own right,
clerk of the inter-State commerce com
mittee, of which I am chairman. I
eave that to Dial C. Roper, of Marl
oro, who had been strongly rocom
mended to ino by the 1 Ion. C. S. Mc
Call and other friends, as a gentleman
of high character and ability and fully
qualified for the duties of the position,
and 1 am gratified to bo able to say he
has measured fully up to the endorse
ments given him. Let me say In pass
ing that etnoe we havo been allowed
secretaries, or clerks, I havo selected,
young men Who wero struggling to
complete their education and thereby
afford them tho opportunity offorod by
the business colleges and educational
institutions in Washington.
They havo opportunity to do this, by
availing themselves of time outside of
tho hours for their official duties. It
is a source of much gratification to mo
to know that in this way I have been
able to aid six very deserving young
men who availed themselves of tho
privilege to study in the best schools
to which thev would not havo other
wise had access. Mr. Roper is tho
seventh, and he too intends taking a
course in a business colloge, which will
be of much value to him when he has
completed it. So much for that, the
only appointment I havo at my dis
posal.
In regard to those appointments
whore my province is only advising, I
have sought to know three things of
applicants who havo asked for my en
dorsement :
1st. Whether they are Democrats.
2nd, whether thoy aro qualified, and
3rd, whether they are persons of good
character and standing.
In tho absence, of personal knowl
egde wo aro sometimes misled as to
these qualifications, but I have not yet
recommended a man or woman, not
Eorsonally known to mo, who has not
oon strongly endorsed by friends and
noi.vMjors at homo. If, therefore,
there shohl he any mistaku, the first
endorsers must bo hold responsible.
In making my recommendations 1
havo not stopped to inquire, and do
not expect in tho futuro to stop and in
quire to what political faotlon in South
Carolina tho applicants belong. It Is
sufficient for mo to know thoy are
Democrats, are qualified and of good
character. If you can inform ino of
any case where I havo departed from
this rule I shall bo very much Indobted,
and promise upon a satisfactory show
ing to withdraw my endorsements, but
I can not do so upon vague and unde
fined insinuations.
You say I do not seem to want tho
support of tho conservatives. I want
the support of every good man in
bringing about a reconciliation and
better feeling among our people, but I
do not want the support of any man
who can not glvo it freely and conolen
tlously. If it 1b expected of me, before I
can bo re-elected to the Senate, that I
shall enter into every local squabblo and
fan the flames of bitterness and bicker
ings which havo brought so much
humiliation upon tho State, I shall
have to disappoint those who oxpect
it, and if the penalty is to bo defeat, I
shall take, defeat.
I shall go ahead and do my duty to
all the people as I see it, and if the
manner of Its performance is not ac
ceptable to my frlonds, I can only ro
Sret it and take tho consequences,
either my lifo nor happiness depends
upon my ro-olootion to tho Senate. In
duo time I shall give to the people who
sent me there, an account of my stew
ardship. I shall do this with frank
ness and without reserve, and if it is
not satisfactory, the people can send
some ono to take my place. Thin is not
only their right butothoir duty. Tho
office doos not belong to me, but to the
people, and they can and will mako
such disposition of it as thoy ploaso. My
own conscience tells me I nave tried
to discharge my .duty faithfully. I
don't know what othor people may
think of it.
Our people aro unhappily divided
into something like hostile camps.
Suspicion, misrepresentation, false
hood and selfishness have taken tho
place of confidence, unity of purpose,
self-denial and State pride. My efforts
shall be oxertod to restore good feel
ing and confidence, to effect a more
tolerant and forbearing spirit. No
people can ever enjoy religious, social
or political freedom with tho spirit of
intolerance, so rampant as that which
prevails among us. Wo must learn to
respect honest differences of opinion;
we must sottlo those differences in tho
forms of reason rathor than in tho
spirit of vituporation and abuso; wo
must throw off tho thraldom of bossism,
secret political cabals, smuggling dofi
unco of public sentiment, and public
law before wo can roach that piano of
enlightened progross so ossontial to
our well boing as a people.
This consummation is of far moro im
portance than my re-election or tho
election of any man to tho United
States Senate Tho Statocan and will
survive my defeat, and so will I. But
she will not rocovor for a generation
from tho dofeat of tho efforts of good
men to bring about harmony and good
feoling and good ordor among our peo
ple.
Some of my friends oxpoot mo to re
commond for offlco, none but conserva
tives. It doos not seem to me that
this would bo wiso. I rocognizo among
tho men of what is known as tho re
form faction as good Democrats as any
in tho country, with qualifications and
characters as good as the best. Many
of the same men rode with mo on tho
Hold of battle. On tho maroh I was by
tholr side and they wore by mlno. In
the torrlblo ordeal of reconstruction
and redemption of South Carolina, a
feoling of comradeship grew up out
of the common trials and sufferings
whioh nothing can wholly eradicate.
I can not turn my back to these men
simply because they see fit to exercise
tholr highest privilege of differing
with me, not in politics, but in polf
I cies. If they differ with me honestly
in politics, I shall still respect their
opinions. I have the same feeling for
men in what is known as the conserva
tive faotion, and why should I not?
There are as good, true and tried men
in that as in the other faotion. You
may say the State authorities do not
recognize the conservatives in Stato
appointments. As a rule, I bellevo
this is true, but it is not wise to follow
a bad example. Nothing is to bo gain
ed In the interest of harmony, which I
assumo all good and patriotic mon de
sire, by imitating the methods of un
patriotic and unwise men. I do not
and can not woar thoir collar. No
ollaue or action or ring has over con
trolled me, and I am too far along In
life now to bend my neok to thoir yoke.
I do not claim be more Independent or
Infallible than ordinary mortals, but I
do claim to havo profited somewhat by
oxporlence which a good many aro not
willing to admit, and I see nothing but
ruin and disgrace In the continuance
ot political strife between the whlto
Jioople of this State, and am ready to
oln In an honest effort to ond It.
Enlightened'' "discussion of public
measures, and fair, just orltloism of
C- illo mon is not only legitimate, but
utlful and Instructive. Political
agitation, conducted for patriotic pur
poses, prevents stagnation and should
no encouraged, but blustering intoler
ance, such as emanate from shallow
patod intellects under tho gulso of
popular leadership, must nooessarlly
load to error, and ultimately to politi
cal degradation and ruin.
I do not write this to you In any
spirit of complaint or reproach for
what you havo said about me, but to
dehne, as nearly as I can, my position
in regard to the Federal appointments
from this Stato.
My public record Is public property
and as such liable to criticism. If I can
not explain satisfactorily to my con
stituents any and every official act J
deserve to bo condomnod. Of courso I
shall bo hold responsible, measurably
at least, by ovory applicant who fails
to got an oflloo for the failure, and
this, too, in tho face of tho fact that I
do not make tho appointments, and
howor potential my influence with tho
appointing power may bo, tho Presi
dent has tho last call and Anally makes
his own selection. This, however, Is
the fato of most publlo mon, and I can
not and do not expect to escape my
share of responsibility.
Very truly yours,
M. c. Butler.
BOLiI> TRAIN ROBBERY.
Tho Most Daring Ever Attempted
One of the Robbers Captured.
San Antonio, Texas, June 28.? Tho
boldost attempt at train robbery that
ovor occured in Toxas, or in tho whole
counti*y, happened at 2 o'clock this
afternoon near tho little village of
Breekenrldgo in Wilson County, thirty
miles South of this city. Tho train
held up was tho San Antonio passenger
No. 2 leaving here at 1:20 p.m. Tho
affair resulted in tho killing of F. N
Martin, a fireman, and tho capture of
one of the robbers, who gives his namo
as J. D. May, a cowboy.
At Breekenrldgo tho train stopped
to take water and as sho pulled out
three inon boarded tho blind baggage
car, but wore not soon by tho train
crow. Tho engineer pulled out at a
speed of about fifteen miles an hour
and had just entered a sharp curve a
few hundred yards from the tank, when
Bobber May cllmbod upon tho tender
and with a pistol in euch hand threw
tho guns down upon tho engineer and
said : " Throw up your hands, G?d
d?n you."
This remark was tho first intimation
that tho engineer or Martin had that
thoy wore to be hold up. Engineer
Tierny throw up his hands, but Martin
made, a movement as though ho was
about to secure a pistol from a box un
der his seat. Tho robber then began
pouring lead into Martin, and emptied
ono six-shooter into his body, keeping
Tierny covered all tho Mine with tho
other pistol. Martin was dead and his
body rolled out of tho gang way of tho
engine and on to tho track whore it
was run over by tho wheels and muti
lated.
Tho other two train robbers,
when thoy saw the dead body fall out
of tho cab, jumped from thoir position
on tho baggage car to tho platform
and made for a brush. There wore
but two passengers on tho train and
oaeh was armed with a six shootor.
When they heard tho firing they rush
ed upon tho platform and as the two
robbers rushed into tho brush, a volley
was fired after thorn.
Robber* May, who killed tho fireman,
seeing that ho had boon desortod, made
the last dosporato effort at capturing
tho train singlohanded. Ho jumped
into tho cab and ordered Engineor
Tiorny to run tho train across Indian
Rlvor Bridge.
Tho engineer instead of complying
put on tho air brakes and tho train
came to a standstill. Tho robber than
grasped tho throttlo and throw hor
wide opon, but tho train would not
make any hoadway, and with a parting
shot at tho onginoor tho robber jump
ed from tho engine and started up the
track on a hard run.
Conductor Stoelo rushod up to tho
engine with a six shootor in hand. Ho
jumped on to the cab, and cutting loose
from tho train, started with Mossongor
Butler and Engineor Tiorny, in pursuit
of tho robber. Tho throttlo was pull
ed wido open and tho light ongino
loapod along tho track, gaining overy
moment on tho robber, who would turn
and lire at his pursuers as ho ran.
Tho ongino was brought to a stand
still and Conductor Steele started after
tho robber single handed. Ho chased
him into tho brush firing at him as ho
wont. Tho throe robbers at tho bridge,
with Winchesters commenced firing at
tho conductor, and thoir volleys wore
returned by tho engineor and messen -
gor.
Conductor Stoolo overhauled tho rob
bor ho was after In tho brush and dis
armed him of two pistols. Tho robbors
at tho bridge then disappoarod leav
ing thoir Winchesters behind them.
A United Statos marshal and a posso
of doputlos went down from hero on a
special train, and aro in pursuit of tho
robbors.
J. D. May, tho man who was captur
ed, refused to make any statement.
fort her than that it was tho intontion
of tho band to rob tho oxpross and pas
songor. Ho was takon to Breekenrldgo
for safekooplng, as threats woro mado
by tho railroad mon that ho would bo
lynched if brought there
Martin, tho tlroman, who was killed
Was unmarried.
Conductor Stoolo will rocoivo tho
$(1,000 standing roward from tho Stato
for tho capture of tho train robbors.
?Associate Justice Jackson, of tho
United Statos Supreme Court, was
?residing over tho Cirouit Court in
a vannan last woek. He has ordorod
that tho Contral Railroad be sold. Ho
says that " It Is a financial and total
wreck and has boon so for some years."
Hundrods of persons in Savannah havo
their money invested in Central
securities and will doubtless suffer
serious losses before tho property can
be placed on its feet again.
HISTORIC WOMEN OF CAROLINA.
Tho following sketches wore read at
the recent memorial exorcises of the
Winthrop Normal College:
Mrs. Uehethland Footo Butler.
BY BESSIE B. TENNENT, OF COLUMBIA.
Among the women of the Revolution
deserving remembrance, there was a
Miss Moore, seventeen years old. She
afterwards became Mrs. Behethland
Footo Butler, wife or Captain William
Butler,' who was for many years in
Congress, and was commander of the
South Carolina forces in Charleston
during 1814-15. She was tho mothor
of two distinguished sons?Col. Pierce
Mason Butler and Andrew Plckens
Butler?and grandmother of our pres
ent Senator, M. C. Butler, and Colonel
William Butler.
Miss Moore was born December 24th,
1704, in Fauqulor County, Va. In 1708
her family moved to Laurons District,
S. C. Two yoars later Captain Moore
diod, and his widow married Captain
Samuel Savage, and moved to Edge
field, on tho Saluda Ki vor. Hero Miss
Moore wont to school, and in fact spent
tho greater part of her early lifo, un
til she was sent to Camdon to school,
whoro much attention was paid to hor
education. While she was at school
Count Pulaski, with his forces, passod
through Camden. She took great de
light In watohing tho military move
ments. It was not long afterwards
that tho terrors of war woro brought
to her very door, there being skir
mishes at this time between Colonel
Washington'o cavalry and Rawdon's
men. Uudor these circumstances a
Royalist advised the family to tako
care of tho property. The caution was
not unnecessary, for prosontly they
wore intruded upon by British soldiers.
In their search for plunder, in tho gar
rot, thoy picked up tho apples which
rollod down from tho Bholvos. Hebet h
land commanded thorn to put thorn In
hor apron; thon sho offered thorn to a
non-commissioned ofileor near by.
Struck with tho cool courago and de
termination of so young a girl bo or
dered the soldiers to obey hor.
It became, necessary at OUO time to
convey intolllgenco to Captain Wal
lace, commander on tho Saluda River.
Thoro being no way to procure a male
messengor, Behethland volunteered to
undertake the service. Accompanied
by her little brother and a friend, sho
wont in a canoe, and gavo tho warning
to Captain Wallace, and through him
to Colonel Henry Leo. Tho next
morning sho loft homo and started to
go to a neighbor's with a bundle of
yarn. Sho was going to take It to tho
loom to havo it wovon into cloth.
While she was walking leisurely along
some American officers rodo up and
asked hor where she was going. Thoy
told her of tho dangers surrounding
hor, out alone, with bands of Tories on
all bides. Captain William Butler, ono
of tho officers, said if she would got on
his horse with him bo would take her
where sho wantod to go. Sho nover
hesitated, but readily accoptcd. Ho
rodo up to a stump and sho mounted
tho horse behind him. Behethland
saw no more of the handsomo officer in
dragoon uniform for some time, but
her imago accompanlod him on every
battle field, and boforo very long Cap
tain Bytlor returned to that neighbor
hood in search ot the youiu? girl that
ho had carried on his horso to the
loom. They wore married in 1784, and
lived on a small farm that Contain
Butler inhorited. Later thoy i ioved
to an estate on tho Saluda River, and
remained there until tho husband's
death in 1821.
Captain Butler was constantly on
gaged in public service, and was necos
sarlly absent from home a great part
of tho time, consequently tho whole
caro of tho family and farm developed
upon Mrs. Butler. Novor were such
varied responsibilities moro worthily
mot and discharged. The host testi
mony that could bo borno to tho excol
loncy of this noblo mothor is afforded
by tho career of hor sons. Tho emi
nent talents and brilliant public career
of Andrew Piekons Butler are woll
known. He was for many yoars a dis
tinguished member of tho Aidiciary of
South Carolina, and afterwards a
United States Senator. Tho lato Colo
nel Piorco Mason Butler, who was
Governor of South Carolina during
1844-45, was celebrated for his heroic
and genorous qualities. He foil at tho
bead of the Palmetto Regiment at the
battle of Cherubusco.
A strange incident in connection
with Colonol Butler's death is that on
tho very night in which ho was killed,
Mrs. Butlor (although sho was in
Edgefiold and ho in Moxico ) dreamed
that her son was dead and was lying
on tho battlefield with a handkerchief
over his face. This Is verified by ono
who knows it to havo happened.
How much her sons owed to her can
not be known. Wo can soo how In tho
incidents of Mrs. Butler's early lifo
were developed the high mental and
moral qualities which marked her in
after years. In her children whom
she reared to usefulness, and whoso
devotion to hor novor faltorod, hor re
ward has beon found. Sho saw each
and every one of thorn go down to
their graves, until only ono, Judge
Butler ( an uncle of our present Sena
tor ) romainod. It has beon said of
hor, "Many daughters havo done
virtuously, "but thou oxcolloth them
all."
ThcodosSu Burr Alston.
BY NINA E. TRADE WELL, OF COLUMBIA.
- Tbeodosia Alston, wlfo of Joseph K.
Alston, Governor of South Carolina, 1h
worthy of montlon among tho Interest
ing women of this Stato. Even if
thoro woro nothing of interest in tho
lifo of Mrs. Alston herself, tho fact
that she was the only child of Aaron
Burr, and tho wifo of ono of tho Gover
nors of South Carolina, would throw
around hor an atmosphoro which would
tond to mako hor history worth read
ing.
Although Aaron Burr was twieo
married, be had but one child, tho
daughter of his first wlfo. Mrs. Pro
vost : and between this child and him*
solf tbore existed an attachment un
usual ovon bet ween fathor and daugb
tor. How early Thcodosla's lovo for
hor fathor begun to show itself can be
soon from tho following letter written
by Mrs. Burr to hor husband : " Your
dear Tbeodosia cannot boar you spoken
of without groat molancholy. Her
nurse is constrained to exert herself
for hor ontortalnmont, and I, raysolf,
am obligod to avoid to mention you in
her presence Hor attach mont is not
of a common nature." Tho groat lovo
of tho fathor showed Itsolf In his caro
of hor education, both mental and
yhysical, In his interest in hor pur
suits, and in his prido in her success.
From tho way in which Thoodosia's
education was carrlod on it is ovidont
that her father wishod her to grow up
a woll-lnformod woman. When only
nine years old sho road both Fronen
and Latin fluently, and hor Frouch, at
loast, was not confined to translation,
for sho wrote long and correct lotters
In that language to her father.
In Theodoela, Aaron Burr was am
ply repaid for the care ho had lavlshjtf
on the cultivation of her raiud>yx^ffik
developed into just such a^^^p^^^
educated woman as he had desired,
and that ho rejoiced at his success is
plainly shown in his letters to hor. "*
When Theodosia was in her eigh
teenth year she met Joseph K. AlBton,
of South Carolina. Ho was a young
man of talents andfortunoj she a young
woman possessed ?l beauty of mind, if
not of face, and it did not tako very
long for each to discover that the
other was the most admirable person
in the world. Aftor a short engage
ment thoy were married 'in January,
1801. The married lifo of Thoodosia
and Joseph Alston was for years one of
almost perfect happiness. They had
ono son, Aaron Burr Alston, in whom
was centered all the hopes and affec
tions of parents and grandparent. The
death of this boy on tho 30th of Juno,
1812, cast a deep gloom over the lives
of thoso who loved him so fondly. His
mother's deep grief at his loss caused
tho failure of her health, and she was
rapidly wasting away, when her hus
band and father decided thatsho should
visit tho latter In Now York. Tho
Bchooner Patriot was selected for the
voyage on account of "its *spood, and
Dr. Timothy Green, a noted physician
of that timo, was sont by Aaron Burr
to act as his daughter's escort. All
arrangomonts for tho voyago being fin
ished, Thoodosia said farowell to hor
husband on Decombor 30, 1812. From
that moment nothing was heard of
oithor schooner or passengers. Thoro
wore rumors of a capture by pirates,
but tho general belief was that tho
Patriot and all on board perished in a
heavy galo which a fow days aftor
thoir departure swopt tho wnolo At
lantic coast. Years afterwards, so tho
Btory goes, pirates, who woro takon in
Mobile and oxoeuted, confossod to hav
ing murdered all on board the schoonor,
Mrs. Alston being forced to walk tho
plank into tho sea. It is not known if
this tale bo true; but ono thing is
known, which is that Theodosia Burr
Alston perished on her way from
Georgetown, S. C., to New York. Tho
double blow of loss of wife and. son
completely crushed Governor Alston.
In writing to Burr of his ullliction, ho
said : " Should it bo my misfortune to
live a century, tho 30thof Juno and the
10th of February aro so Impressed on
my mind that thoy will always soein to
havo just passed. Where now is my
boy? Tho mother I cherished with so
muoh pride? I fool like tho spirit of
desolation." Aaron Burr has loft no
written expression of his grief, but
from his manner it was evident that
tho last straw was addod to his already
heavy burden when he lost his beloved
daughter and the little hoy who called
him "Grampy."
STATE TEACHERS* ASSOCIATION.
The Session to be Held and Hoard to
be Secured in Converse College.
Wh,l.iamston, S. C., .Tune 29.?Tho
annual meeting of tho Stato Teachers'
Association for 1893 will be hold in
Spartanburg, August 2d, 3rd, and 4th.
Dr. Lander, chairman of tho execu
tive committee, furnishes somo Infor
mation that will bo of direct interest to
tho teachers of tho State and others
interested in tho work of public educa
tion.
Through Mip courtesy of President
Wilson tho sot'jions of tho Association
will convene in tne chapel of Converse
College. President Wilson has plaeod
tho teachers of the State under furthor
obligations to him by kindly consent
ing to allow tho boarding department
of Converse to bo re-opened for tho
occasion. This insures tho convenient
Und luxurious entertainment of all who
may go. Board can be obtained at a
very low figure in thocolloge buildings
by immediate application to tho
matron, Mrs. Thompson, whose address
until August 1st will be Greenville,
S. C. Negotiations are now in pro
gross with tho leading railroads look
ing to reduced rates on all lines.
Tho program for the occasion is now
in the hands of tho printer and copies
can be secured by application to tho
chairman. Dr. S. Lander, at William
ston, S. C, or tho secretary, L. W.
Dick, Sumtor, S. C.
In arranging tho program tho com
mittee has endoavored to make it un
usually attractive and instructive.
Tho assembly will include three days,
with morning, afternoon and ovening
sessions. Tho papers to be read and
discussed aro from mon who aro pro
ficient in tho branches thoy aro to
handle. Tho opening excrcisoB in
clude an address of wolcomo to Con
verse by President Wilson.
Tho progressive teachers of the
Stato will keep in mind tho dato and
place aud bo on nand?Converse Col logo,
Spartanburg, S. C, August 2d, 3rd,
and 4th.
A Quick Jukou.?A Judge was once
trying a murdor ease in ono of tho wire
?rass counties and experienced great
ifflculty in getting a jury. Floven
jurors had boon sworn in, and in tho
next panol was brought in a small,
lean, lank, cadaverous-looking follow,
who had on only ono shoe, his pants
being nearly abovo his knees, his shirt
open both front and back, nnd the
aforesaid pants held up by a single
brace. Tho solicitor proceeded to ask
tho usual questions in such cases as
follows:
" Havo you, from having seen tho
crime committed or having heard any
of tho testimony delivered under oath,
formod or expressed any opinion as to
tho guilt or Innoeoneo of the prisoner
at tho bar ?"
Tho single-brace follow in a clear and
distinct volco, answered :
" Not any."
"Havo you any prejudice or bias
resting on your mind" for or against the
prisoner at tho bar ?"
" I hain't."
" Is your mind perfectly impartial
between tho State and tho accused V"
" Hit air."
"Aro you conscientiously opposed to
capital punishment?"
"I isn't."
Tho judge didn't like tho juror much,
but it being lato and jurors scarce, ho
was " put on " tho prlsonor in tho usual
manner, tho clork saying :
" Juror, look upon the prisoner;
prisoner, look upon tho juror.
Tho juror was closo to* tho prisoner,
and when this command was given ho
bent ovor him, scanning him from head
to foot intently for some minutes. Ho
then turned to tho judge and said in a
firm, solomn volco :
"Yes, judge, I think he's guilty."
Hard on the Lawyer.?It is roiat
ed of Goorgo Clark, tho colebrated
negro minstrel, that being oxamined
as a witness ho was severely interroga
ted by tho attornoy, who wished to
break down his ovidonco.
" You aro In tho negro minstrol busi
ness, I bollovo?'' Inquired tho lawyor^
" Yes, sir," was tho prompt i'oplyys
" Isn't that rather a low calUj^^ilo
lnanded tho lawyOT. *? q\ ,4
" I don't know bat jfrwk
replied thomipstrAr, ^t^f<& so Brach
bettor thuB,fhy f#iicVsAa> 1 ftn?rOUdg
oflt."^ -"W
was^your fafliorV^^llinipr"
sNa-lawyoT, replna Cbdnc, in<
?ogrspt tjrat pay tho sjQuiouoe
^wj^Meyflin al^dj^l
THE COINAGE OF SILVER.
Secretary Carlisle Furnishes the
Fnc(? and Figures?HIh Statement
ort ho Situation.
A great many pooplo would liko to
know the history of the silvor legisla
tion In this country, in view of tho pond
ing discussion of tho Sherman silvor
law. A representative of the United
Press, in conversation with Seoretary
Carlisle, suggostod to him that there -
was a' laok of preciso information
touching tho amount of silver coinod
up to tho present lime, and also as to
manner in which the present operation
of tho Treasury under tho so-oalled
Sherman Aot results in the payment of
fold in the purchase of silvor bullion,
n reply to these suggestions, Sooro
tary Carlisle said :
" Tho operations of tho United States
Mint commenced in 171)2, and from that
time to 1873,?a period of otghty-one
years?tho total amount of silvor
dollars coinod was $8,045,838. In 1873
tho coinage was stopped by act of Con
gress, but In 1878 it was resumed under
the so-called Bland-Allison act, by tho
terms of which tho Secretary of tho
Treasury was directed to purohaso and
coin into standard silver dollars of 412i
grains oacb not less than $2,000,000
worth nor more than $4,tK)0,000 worth
si 1 vor .lui 11 ion each month, and between
tho dato of that act and the 14th of
July, 1800, a poriod of twolvo years,
thoro was coinod $378,100,703.
In addition to this thoro has been
coined from trade dollars, $5,078,472,
and from tho seigniorage of bullion
purchased and coinod undor tho act of
July 14, 181K), tho sum of $0,041,109
making in tho aggregate $300,880,374
in full logal tender silver money issuod
by tho Government sinco 1878. Of this
amount only $58,010,010 was in actual
circulation on tho first day of tho pres
ent month, tho remainder being hold
in tho Treasury as part of tho assets of
tho Govornmont or being represented
by outstanding certificates.
"Tho act of July 14, 1800, required
the Seoretary of tho Treasury to pur
chase 4,500,000 lino ounces of silver
bullion each month, and It provides
that bo should cont inue tho coinage of
silver dollars at tho rate of $2,000,000
per month until tho 1st day of July, 1801,
and under this act there have been
coinod $20,408,401, which makes tho
total coinage of silver dollars under all
aets since 1878, $110,204,835, or more
than fifty tlmos as much as was coined
during a previous period of oighty-ono
years.
" In uddition to tho silver bullion
purchased by tho Government since
1878, and coined as above stated, tho
Seoretary of the Treasury has purchas
ed under the act of July 14, 1800, and
now holds in tho vaults of the Treasury,
uncoinod, 121,202,432 fine ounces of
silver bullion, which cost tho people of
tho United States $114,200,020, and is
worth to-day, at tho market price of
silvor, $103,411.380, thus showing a loss
of $10,888,530.
" By the tormB of tho act the Secre
tary was required to pay for all silver
bullion purchased by tho Issue of now
United States Treasury notes, payable
in coin, and It provided that upon de
mand of tho holder of any such notes
they should bo redeemed in gold or
silvor coin, at the discretion of the
Secretary. 1 It being,' in tho language
of tho act, 'the established policy of
tho United States to maintain the two
metals on a parity with each other
upon tho present legal ratio or such
ratio as may Ikj provided by law.' In
tho execution of this declared policy of
Congress it is the duty of the, Seoretary
of the Treasury, when the necessity
arises, to exercise all the powers con
ferred upon him by law in order to
keep the Government in a condition to
redeem its obligations in such coin as
may bo demanded, and to prevent, the
depreciation of either us compared
with the other.
"Tho records of the Treasury De
partment show that during the eleven
months beginning May 31, 1802, and
ending May I, 1803, tho coin Treasury
notes issued for the purchase of silver
bullion under the act of July 14, 1800,
amounted to $40,001,184, and that dur
ing the same period the amount of such
notes paid in gold was $47,743,173. It
thus appears that all the silver bullion
Surohased during that time, except
2,210,011 worth, was paid for in gold,
while tho bullion itself is stored in tho
vaults of the Treasury and ean neither
bo sold nor used for the payment of any
kind of obligation.
" How long the Government shall
thus bo compelled to purchase silver
bullion and increase the public debt by
issuing coin obligations in payment
for it, is a question wb ich Congress alone
can answer. It is evident that if'this
policy is continued and the Secretary
of tho Treasury shall bo compelled to
issue l>onds or otherwise increase tho
interest-bearing public debt, it will be
done for the purpose of procuring gold
with which to pay for silver bullion
purchased under tiio act referred to."
LAYiNts in a Supply.?a special
from Charleston last week gave tho
following curious information : " It is
probable that thoro never was a more
peculiar state of alYaias. in any com
munity than that which exists in
Charleston to-day. For twenty days or
moro tho liquor and grocery houses
havo been soiling out their stock of
wlnos and liquors at reduced prices to
got rid of them before July 1st, when
the State enters into a monopoly of the
liquor busines. It is settled that there
Is to be no dispensary for the sale of
liquor in Charleston and the people
thorofore havo been preparing for the
now state of tilings. Many thousands
of gallons of whiskey and orandy, and
many thousands of bottles and casks of
wine have been sold. So great has
been the demand that the railroads and
Steamships have been taxed to trans
port the liquors to the. city, the pres
ent stock having boon long ago ex
hausted, and when the Kvans law goes
into operation at midnight on the 30th
inst., thoro will bo few bouses in
Charleston that are not provided with
at least six months of liquor. This is
tho limit which is generally set for the
law to last.
" au tho swell clubs have agreed to
obey the law and to-night there aro
auctions in progress at the Charleston,
Queon City, The Yacht, and other
society clubs at which the entire stock
of liquors aro being knocked down to
tho highest bidder. There is ono
large brewery in the city which will
probably bo closed. On the 1st of July
ovor 200 places of business, saloons^
rostaurants and wholesale lioiufl*