University of South Carolina Libraries
CARLISLE ON GOLD AND SILVER. THK MONKTAKY I'ODIOY OF THE OMT||D BT&TKS. Oold Is the Universal and Accepted Mtandurd oi ih<- World?Stiver Is Dependent upon the Increase of Population dtid the Growth of Our Industries?This Country In Deeply ' Interested in tile White Metal. The followin^ds the address of .Hon. John G. Carlisle, Secretary of tho Treasury, before''the New York cham ber of commerce a,t .Its anniversary banquet last week: Mr. frosldent/uid ?ontlenien: Tho'Vwbjectfcpresonted by the senti ment, jokt reaois so;large apd involves BO niioiy ron.inVrat inji". not *mly of pub lie poHoy.^ftf't for publijv iVnid. ptdvut?' honor mjftjfoyd faith, tfrut i scarcely , know howVt? rospond to'?U on such an occasion;^' this, where brevity'5will ho inorn.Jipim>prlute than cMalxmato argu ment, t am somewhat' embarrassed, altfS by f luf faot that I aril 'to talk to an assemblage of gentlemen wlio, by rea son ol their personal oxporionco in eotnmoreitil and llnancial affairs, are at least in us good a position as I am to understand and appreciatu the valuo of a sound and stablo currency and to foresee tho injurious effects of a de parture from correct financial moth OdH. -fit Money and'.to representatives con stitute the tools with which the mer chant and tho bankor perform their parts in the numerous and compli cated transactions nocessarily occuring in the growth and development of our trade at home and abroad. It is not possible to do perfect work with im perfect instruments, and if it is at tempted the consequences will not fall upon you alono, but must bo felt sooner or later in every part of tho land. Con lldonce would bo destroyed, trade would bo interrupted, the obligations of con tracts would be violated, and all the ovils which have invariably attended the use of a base or fluctuating cur rency would afflict, not tho commer cial and financial classes only, but the country at largo. But our commercial interests are not conlincd to our own country ; they extend to every quarter of tho globe, and our people buy and soil in nearly every market of the civi lized world. A very largo part of our farmers, mochanies, and other labor ing people find constant and profitable employment in tho production and transportation of commodities for sale and consumption in other countries, and tho prices of many of our more im portant products are fixed in foreign markets. Without exception these prices uro fixed in the markets or coun tries having a gold standard of meas ure of valuo either by express provi sion of law or by public policy which keeps their sliver coins equal in ox changeable valuo to the gold coins at tho legally established ratio. Tho valuo of our trade with the people of other countries during the last fiscal year was more than $1,700.000,000, and more than $1,100,000,000 of this was with tho people of Europe, while with tho peoplo of Asia it amounted to a lit tle over $100,000,000, and with all tho countries of South America, excluding Brazil, which has a singlo gold stan dard, it was only $16,000,000. While it would be unfair to attribute this un equul distribution of our trade with tho outside world to the character of their fiscal legislation. I think it may bo safoly asserted that this country could not long maintain its present po sition as one of the most conspicuous and important members of the groat community of commercial nations which now controls tho trade of the world, unless we maintain a monetary system substantially, at least, in accord with tho monetary 'systems of tho other principal nations. There can be no international legal tender without an international agree ment, but there must, from the vory necessities of the case, always bo a common basis upon which bargains are made and a common currency in f which balances are settled. No nation can determine for the others what that basis shall bo or what that currency shall be. It may establish a currency for itself and for the use of its own people in their domostic trade, but the valuo of tho currency will be ulti mately measured and conclusively fixed by tho international standard, whatever that may bo. The stamp of its coins attest their weight and fine ness, but it adds nothing to their in trinsic value, and nothing whatever to their exchangeable valuo in the mar kets of tho world ; so that a nation's atock of international money always consists of its uncoined bullion and the bullion valuo of its coins. It cannot 1 augment its stock of such money to any extent whatever by overhauling either 1 gold or silvor in its coinage laws, nor can it diminish its stock to any extent by undervaluing either metal. While i the number of its nominal dollars, or shillings, or francs, may he increased J or diminished, as tho easo may he, tho actual valuo of tho bullion or coins j will not bo changed in the loast, for no I act of Congress, or other legislative body, can repeal or alter the laws of trade or the laws of finance; and every attempt to do so must result in disas ter sooner or lator. No matter, therefore, what our mon etary system may ho here at home as established by our own laws, WO must cither relinquish a largo part of our share in tho commerce of tho world or conduct our international trade upon such basis as tho general judgment of commercial nations may establish. "Wo cannot possibly change thin situa tion, and, consequently, the only prac tical question is. whoMier It is bettor to establish by law an inferior kind of money for use. at homo exclusively and another kind for use abroad, or to have nil our monoy good enough for use in every market where our people tratio. I believe the people of tho United States are entitled to have for use in their "domestic trado just as good money o? any other peoplo in tho ?worlcl h'avo, and they are entitlod to lhaVO jnsfc as much of it as may bo nee ?ssary to carry on our business regu larly and profitably. Whether it bo gold or silver, or both, or paper based upon the coins of the1 two metals, tho peoplo have a right to demand that it shall bo In fact what it purports to bo ?a just ami true moosurtTof value, or .tho representative of a just and true ?measure of value. Gold is the only international money, atml All trade balances are settled in jgohj or, which is the same tlirn$f, on a igold bauds, all other forms of ourroncy being adjusted to that standard. It is useleBH for tho advocates of a differ ent systom to insist that this ought not to bo so ; it is so, and wo cannot change tho fact. Hot the gold oaglo and double eagle are not accepted at a particular valuation }n tbeso settlements simply because the United States of America hitvo declared by law that thoy shall be legal tender at their nominal value, but sololy because tho bullion contain ed in thorn, if uncoined, would be worth overywhoro tho samo amount. Tills it a great and powerful govern ment, but thero is one thing it cannot do?It cannot croato money. There aro some things, however, which the government can do for tno establish ment and preservation of a sound and rttablo euirency. In the oxerclso of its CARLISLE ON GOLD AND SILVER. THK MONKTAKY I'ODIOY OF THE OMT||D BT&TKS. Oold Is the Universal and Accepted Mtandurd oi ih<- World?Stiver Is Dependent upon the Increase of Population dtid the Growth of Our Industries?This Country In Deeply ' Interested in tile White Metal. The followin^ds the address of .Hon. John G. Carlisle, Secretary of tho Treasury, before''the New York cham ber of commerce a,t .Its anniversary banquet last week: Mr. frosldent/uid ?ontlenien: Tho'Vwbjectfcpresonted by the senti ment, jokt reaois so;large apd involves BO niioiy ron.inVrat inji". not *mly of pub lie poHoy.^ftf't for publijv iVnid. ptdvut?' honor mjftjfoyd faith, tfrut i scarcely , know howVt? rospond to'?U on such an occasion;^' this, where brevity'5will ho inorn.Jipim>prlute than cMalxmato argu ment, t am somewhat' embarrassed, altfS by f luf faot that I aril 'to talk to an assemblage of gentlemen wlio, by rea son ol their personal oxporionco in eotnmoreitil and llnancial affairs, are at least in us good a position as I am to understand and appreciatu the valuo of a sound and stablo currency and to foresee tho injurious effects of a de parture from correct financial moth OdH. -fit Money and'.to representatives con stitute the tools with which the mer chant and tho bankor perform their parts in the numerous and compli cated transactions nocessarily occuring in the growth and development of our trade at home and abroad. It is not possible to do perfect work with im perfect instruments, and if it is at tempted the consequences will not fall upon you alono, but must bo felt sooner or later in every part of tho land. Con lldonce would bo destroyed, trade would bo interrupted, the obligations of con tracts would be violated, and all the ovils which have invariably attended the use of a base or fluctuating cur rency would afflict, not tho commer cial and financial classes only, but the country at largo. But our commercial interests are not conlincd to our own country ; they extend to every quarter of tho globe, and our people buy and soil in nearly every market of the civi lized world. A very largo part of our farmers, mochanies, and other labor ing people find constant and profitable employment in tho production and transportation of commodities for sale and consumption in other countries, and tho prices of many of our more im portant products are fixed in foreign markets. Without exception these prices uro fixed in the markets or coun tries having a gold standard of meas ure of valuo either by express provi sion of law or by public policy which keeps their sliver coins equal in ox changeable valuo to the gold coins at tho legally established ratio. Tho valuo of our trade with the people of other countries during the last fiscal year was more than $1,700.000,000, and more than $1,100,000,000 of this was with tho people of Europe, while with tho peoplo of Asia it amounted to a lit tle over $100,000,000, and with all tho countries of South America, excluding Brazil, which has a singlo gold stan dard, it was only $16,000,000. While it would be unfair to attribute this un equul distribution of our trade with tho outside world to the character of their fiscal legislation. I think it may bo safoly asserted that this country could not long maintain its present po sition as one of the most conspicuous and important members of the groat community of commercial nations which now controls tho trade of the world, unless we maintain a monetary system substantially, at least, in accord with tho monetary 'systems of tho other principal nations. There can be no international legal tender without an international agree ment, but there must, from the vory necessities of the case, always bo a common basis upon which bargains are made and a common currency in f which balances are settled. No nation can determine for the others what that basis shall bo or what that currency shall be. It may establish a currency for itself and for the use of its own people in their domostic trade, but the valuo of tho currency will be ulti mately measured and conclusively fixed by tho international standard, whatever that may bo. The stamp of its coins attest their weight and fine ness, but it adds nothing to their in trinsic value, and nothing whatever to their exchangeable valuo in the mar kets of tho world ; so that a nation's atock of international money always consists of its uncoined bullion and the bullion valuo of its coins. It cannot 1 augment its stock of such money to any extent whatever by overhauling either 1 gold or silvor in its coinage laws, nor can it diminish its stock to any extent by undervaluing either metal. While i the number of its nominal dollars, or shillings, or francs, may he increased J or diminished, as tho easo may he, tho actual valuo of tho bullion or coins j will not bo changed in the loast, for no I act of Congress, or other legislative body, can repeal or alter the laws of trade or the laws of finance; and every attempt to do so must result in disas ter sooner or lator. No matter, therefore, what our mon etary system may ho here at home as established by our own laws, WO must cither relinquish a largo part of our share in tho commerce of tho world or conduct our international trade upon such basis as tho general judgment of commercial nations may establish. "Wo cannot possibly change thin situa tion, and, consequently, the only prac tical question is. whoMier It is bettor to establish by law an inferior kind of money for use. at homo exclusively and another kind for use abroad, or to have nil our monoy good enough for use in every market where our people tratio. I believe the people of tho United States are entitled to have for use in their "domestic trado just as good money o? any other peoplo in tho ?worlcl h'avo, and they are entitlod to lhaVO jnsfc as much of it as may bo nee ?ssary to carry on our business regu larly and profitably. Whether it bo gold or silver, or both, or paper based upon the coins of the1 two metals, tho peoplo have a right to demand that it shall bo In fact what it purports to bo ?a just ami true moosurtTof value, or .tho representative of a just and true ?measure of value. Gold is the only international money, atml All trade balances are settled in jgohj or, which is the same tlirn$f, on a igold bauds, all other forms of ourroncy being adjusted to that standard. It is useleBH for tho advocates of a differ ent systom to insist that this ought not to bo so ; it is so, and wo cannot change tho fact. Hot the gold oaglo and double eagle are not accepted at a particular valuation }n tbeso settlements simply because the United States of America hitvo declared by law that thoy shall be legal tender at their nominal value, but sololy because tho bullion contain ed in thorn, if uncoined, would be worth overywhoro tho samo amount. Tills it a great and powerful govern ment, but thero is one thing it cannot do?It cannot croato money. There aro some things, however, which the government can do for tno establish ment and preservation of a sound and rttablo euirency. In the oxerclso of its <?'),.-,! it lit i<.iial iu it limit y to "coin money ami rewulan-. tl\e value thereof," it can HusijiMuT'or.JjjJu^t Jrbo coinage of either raotal whonovei\?jWrfascertained that the eolus-orf tho two motels, of the same denominations' are of unequal valuo, or iMDtfn change thoir legal ratio .so as to niu?f thorn as hearly equal in valuo us pSHfale;' or it can maintain tho parity ^?\fte coins by receiving thorn and their paper- roprosentativos in payment of all Ruhffa duos and dis charge all its own obligations in what ever Kind of money its creditors may demand. Tho principle or rule of law that tho option as to tho kind of logal tender with which an obligation shall bo dis charged belongs to tho dobtor, and not to the creditor, has not just application in a case whoro tho government issuos its notes to circulate as a currency antong tho people nnd, by making thom legal tender, compels the people to ro oolvo them. fPafi private citizen may very properly avail himself of tho law ful right to discharge his privato ob ligations>bold by Voluntary croditors, in any kind .of legal tondor monoy, bo cause he hQ,g only his own personal in terest tyu. protect and owes no public duty in tho premises. But when tho government of the United States has undertaken to supply tho countiy with eurroney,'and has issued its obligations in tho form of notos to circulate among the people in tho transaction of thoir privato business, and lias rocoivod for overy dollar represented by such notes a dollar's worth of tho people's sor vieos or a dollar's worth of tho peoplo's property,its honor, as well as sound pub lic policy, demands that they shall bo redeemed upon presentation in monoy current in all tho mnrkcte of tho world. No government can honorably dispar age or depreciato its own obligations, and especially obligations whioli it has forced1 its people to accept; nor can any government honorably discrimi nate between the dilToront kinds of money or currency which it puts in cir culation. Whatovor may be the dif ferences in tho forms and qualities of the currency while it remains in cir culation, when the time for ultimate redemption comes, all must bo treatod alike. The country has recently heard a great deal -about bimetal ism and a double standard, and it is possible that these subjects will continue to bo dis eussod -to- #0mo extent, in the future. For my part, I havo never boon able to understand what is meant Ly a double standard, or double measure of valuo, and 1 have never found ^any one who could tell mo. To my mind it seems as absurd to contend that thoro should be two different standards or measures of valuo as it would bo to insist upon having two yard-sticks of dilToront lengths or two gallons of different di mentions. If there were two stand ards, or measures, not equal in valuo. it is evident that one of them must bo a false measure; and if thoy woro of equal value, it is evident that, no mat ter what tho law might declare, thoro would bo in fact but one measure, although composed of two different kinds of material. If, for instance, the silver dollar and tho gold dollar were of precisely tho same value and could be kept so at all times, there would be, in fact, but one standard?one unit for the measurement of values. Whatovor that standard may bo as established by tho Jaws of trade and finance, whether it bo so many grains of fine gold or so many grains of line silver, it is the duty of the government to conform to it in the payment of obligations and In all its dealings with tho people. It docs not follow from anything I bfwo said that nothing shall circulate or be recognized as monoy or currency except gold or paper Issued against gold, nor that the prices of commodi ties ought to ha', or will bo. fixed upon the hypothesis that gold is tho only money in. pie world ; but It does follow that no part of our currency, whether It be silver or paper, should bo per mitted to depreciate bolow tho estab lished and" recognized standard. Any financial policy which would encourage or permit such depreciation, or create a reasonable apprehension of such de preciation, would unsettle values, para lyze businss, arrest tho growth and ex pansion of our industries, and ulti mately bring about almost universal bankruptcy and ruin upon the country. It must be rememborod, however, that it is function and duty of tho legisla tive department to establish tho policy of the government upon this and all Other subjects, and to clothe tho ^ex ecutive with tho necessary authority and means to carry it out. When the authority and means are granted, tho executive department is responsible for tho manner in which tho law is exe cuted, but beyond this it has no power to act, and, consequently, no duty to perform. Gentlemen, tho question whether the obligations of tho United States will be paid in coin current in all the markets in the world has already boon settled, and it has, in my opinion, been settled for till tiiuo to come. It has been settled not by any specific act of Congress prescribing the exact mode of payment, but by the spirit and ob vious purpose of tho whole body of existing legislation upon the subject, and by the deliberate judgment of tho American people and tho declared pur pose of those who havo been entrusted with the execution of the laws. Tho disposition and ability of tho govern ment to maintain its own credit at the highest possible standard, and pre serve tho integrity of all tho forms of currency in circulation among tho peo ple, cannot bo reasonably doubted, and ought not to be subject to serious con troversy hereafter. This docs not imply that silvor is to have no place in our monetary system. What is to be the ultimate fate of that na tal is ono of the problems which j time and events alone can solve; but' for many years, notwithstanding all I our legislation in its support, tho Hurt nations in its value havo boon so rapid and so great as to demonstato the fact that it cannot bo safely coined without limitations into monoy of final redemption at tho existing ratio or at any othor ratio that might bo estab lished. It is not possiblo, undor oxist Intr circumstanoos, for any ono govorn mont to ostablish and maintain a stable relation botwoon tho two metals, and for this reason alone, If thoro woro no others, wo are bound to placo soino reasonable limitations upon thocoinago and use of silver. How much of It can be safoly coined, and upon what condi tions it can bo safely used, aro ques tions upon which thoro will ho wido differences of opinion ; but after all that can bo said on both sidos, thoy will be finally determined by circumstances which can not now bo foroseon, and by the natural incroaso of our population and tho natural growth of our Indus tries and trade. It in enough to say at present that wo have already on hftnd a stock of silver, coinod and uncoinod, sufficient to meet all tho probablo requirement . of tho country for many years to come. The mints of tho United States havo coined 11 0,332,f>r>0 standard silvor dol lars, and wo now havo 140.01X1,700 fine oancos of silvor bullion, which at tho ratio of 10 to 1, would make $181,914, 841, or $001,247,301 in tho aggregate. Besides this, wo havo $70,077,002 in Subsidiary silver coin, which is legal lender to the amount of ten dol'ars. 4nd is by law redeemable in full legal tondor money on presentation. Our total stock of gold coin and gold bub lion is $659,167,949. The five countries co^Ututing the Latin Monetary Union, itb a codi? bined population of more than 80,000, 000, exclusive of their colonial posses sions, have $876,000,000 of full legal tondor silvor, and $95,000,000 of sub sidiary silver coins; and yet they found it necessary several years ago to discontinue the coinago of legal tondor silver and enter into an arrangement by which each country agrood to re deem in gold all its own Togal tondor 'silver coins when presented by any ot her member of the union. Thus gold lias been mado to support a limited quantity of silvor colu at par in Franco, Belgium, Italy, Greece and Switzer land as it has boon required to do in the United States since 1878, and as it must continue to do hereafter, here and j elsewhoro, unless a groat change shall occur in tho rolativo values of the two metals. r% I!ein;r tlfo groatost silver producing country in tho world, and having on hand a largo amount of silvor coin and bullion, the United States cannot bo othorwiso than deeply Interested in ovory moasuro designed to enhance. Its valuo and increase Its uso as money upon' a safo and sound basis, but' wo cannot alone maintain Its unlimited coinage as full legal tondor in opposi tion to tho policies of tho other groat nations of tho oarth : and the country is to bo congratulated upon tho fuct that wo have at last placed oursolvos in a position which enables us to pro servo our own monetary syst em intact and oxorciso a potent lutluoncc in any movement, that may bo hereafter mado for tho permanent adjustment of this very important and difficult question. It is a groat mistake to suppose that tho supporters of our recont legislation upon this subject were animated by anp fee'ingot hostility to tho continued uso of silvor as money to tho largest possible oxtont consistent with tho stability of our currency and the pre servation of tho public faith. The wisest and safest friends of that metal are those who havo had tho sagacity to foresoo tho inevitable offoct of its continuous accumulation in tho form of bullion in tho vaults of tho treasury, and tho courage to remove from the statute book an experimental law which from tho time of its onactmont was a constant menace to the wolfaro of tho whole country. A PLEA FOR BALLOT REFORM. THE AUSTRALIAN SYSTEM IS STRONGLY RECOMMENDED. A Forcible Appeal for Reform in Our Election Laws?The Iienellts to be Derived from a Change. Roprosontativo Manning, of Sumter, has published tho following expression of his views on ballot reform in tho Columbia newspapers, and his appeal for a chango in our bystem at least dosorvos tho consideration of tho Legislature and the people : At tho last session of tho Legislature I introduced a rough draft of a bill entitled " A bill to promote the in dependence of votors at public elec tions and to enforce tho soorecy of the ballot." This bill was referred to tho appro priate committee on privileges and elections. Whoa tho bill was under consideration I wont before tho com mittee and explained that this meas ure was ono of such great importanco and tho timo was so fully taken up during the session of tho Legislature, that I would ask tho comraltteo to ask by resolution for the appointmont of a commission which could tako up this matter during tho recess, consider it in all its bearings, and report a bill covering tho purposes named at tho Legislature whon it meots this winter. This was agreed to, and tho committee mado its roport and offered the resolu tion asked for. But objection was raised on tho floor of tho House to tho appolntmont of a commission to work during tho recess, on two grounds. First, that tho work of such com missions usually resulted in all the work belog dono by ono man, and, therefore, that ono man bad just as woll do the work himself and como to the Legislature with his bill pre pared. Second, that it would involve ex ponso. And so the matter was post poned. Now that tho oxcltomont Incident to tho consideration of tho financial question in Congress has subsided, and this discussion has demonstrated in a very pointed way that there are widely divergent views held by those composing tho Democratic party in this State, as weil as elsewhoro, and that tho differences of opinions arc so sharp on this question as well as on others almost as important, it leads mo to bolievo that tho day is not far distant whon thoso who bolievo in doctrines set forth in tho Ocala plat form and thoso who do not bollovo in thoso doctrines but believe In a strict adherence to tho principles embodied in tho platform of tho national Demo cracy, and in thoso principles which havo Prosidont Cleveland as thoir highest exponont, cannot pull together In one party, and 1 will again bring tho matter of a change in our election laws boforo tho Loglslaturo boforo such a ca tastrophe befalls us, and we aro brought face to face with tho condi tions of a divided whlto people with no mean) that aro sanctioned by law and order to prevent tho issues of (he day from being decided by an Ignorant colored voto. I expect to introduce a bill in tho Legislature this winter that I hope will meet tho approval of all thoBo who havo tho highest. Interest of the State at heart, and which I bollovo will do much to romovo an evil which is an ovor-incroasing ono and which ha:, ill a measure, demoralized oui' people. Tlio word which has a charm about it in those days of changes and pro gross Is reform. It is woil that this is bo, but boforo wo mako sweeping changes lot us start at tho founda tion. With our form of government, wo will novor rest on a suro and solid basis until wo havo a syBtom of elec tions that will glvo tho truo expres sion of tho intelligent popular will, without Itimldatlon and fraud, tho baneful accompanlmonts which havo characterized too many of our elec tions. Public discussion of moasuros will amount to very little if, aftor such ed ucation as results from public discus sions, thoro is opportunity for tho oasy miscarriage of tho vordict of elec tors. That afniBos havo boon prac ticed undor our oloctlon laws, no can did man will deny. That theso abuses will continue to bo practiced in our oloctions unless arrested by legisla tion, no impartial observer will con trovert. It is usolons for mo to go over the ground that is so familiar to your readers to explain in what way those abuses aroso, why thoy havo grown and continued to bo exoroisnd. In a few words?the presonce in our midst of an ignorant population, ono that oo ouples a low position in the scale of civilization, but which outnumbers the white in a large and dangeious major ity, forced us to adopt that wrong and pernicious maxim that "the end just ties the means." The application of such a principle brings its own punish ment, and while not intending to de liver a moral lecture, I say emphati cally that the adoption of wrong means to bring about un end that is oven so commoudable and apparently neces sary, can but bring demoralization ana debasement of those high and patriotic prinoiplos which should ever actuate us in the discharge of public duty. What have wo passed through ? An era of violence, of ballot box stuftiing and fraud, which while it accom Jdished the purpose it was intended or, must ever be an era we must de plore. To relieve us of the necessity of ro sorting to such means to maintain white supremacy and keep tho govern ment in the hands of intelligent and 'honest mon. tho oight-box law was passed, coupled with the registration of oxectora. Practically this was an educational qualification of sufTrago, and was a step, a long stop, in the right direction. It has sorvod a good purpose, and no white man in this State has over boen hoard to complain of this law. But it does not go far ouough. It is a groat safeguard in our State olections, (bu*. oven here there is a possibility of tho olection to uny glvon position of a can didate by concentration of tho igno rant votors,) but in theso days, when so much deponds on tho result of na tional elections, it is necessary tobring these olections under the plan success fully operated olsowhere, as I will show, that will require a certain amount of iutelligonco and education to onablo tho to elector to cast his bal lot. But beyond all this, what aro the conditions that confront us V I do not supposo that over boforo has tho pub lic mind boen so aroused on tho ques tions of tho day?tho quostions of finance, tho tariff and tariff reform, civil sorvico reform, tho liquor ques tion, to say nothing of tho hetero geneous mass of issues that arise out of tho discussions on the subject of tho equalization of taxation, relations of corporations to tho government, etc., etc. Tho public mind is awake to theso questions and tho solution of thom depends on those who aro elected to public positions, und I cannot dwell too strongly on tho importance of bringing to bear at our elections an intelligent appreciation of tho ques tions at issue. This boing tho caso, I advocate the full and free discussions of all questions that arise?the fuller and freer tho discussion the bettor? but after this, I plead for tho untram moled vote of our people?a right that shall be exercised in secret without fear and without prejudice. Tho adoption of tho Australian bal lot, such as I propose, will enable us to avoid tho pormiscious consequence of our old system and will enable us to conduct ovor olections on a high plane ; when wo can call on any citi zen to act as manager of olection, and ho can do so without fooling that in discharging tho duties of tho position he will ho expected to do anything that can offend a clean c. tender cou scionce, and that in carrying out tho provisions of tho law he will have done nothing that needs apology or justifica tion. Thoughtful and patriotic men desiro pure and tranquil elections, conducted under such a plan as will insure tho free and intelligent expression of the popular will. The Australian system offers tho nearest approach to tho ideal election, and whilo tho suffrage is a question that has agitated every civilized country and1 has had tho care ful consideration of the most enlighten ed people, thissystom after groat study, has been finally adopted by Great Britain, Canadu and Australia, and tho main ossonco of tho systom by many European countries, and to come to our own country many of tho States have adopted it in some form. In no case whore such a law has boon tried has it boon ropcalod, but instead, when efforts in that direction have boen made they have proved futile ; showing thut it has worked to tho popular satisfaction and fills a public want. This movement of ballot reform is ono that cannot go backward, and tho more the subject is examined the more earnestly is tho desiro to extend its application. Sovoral Southern States have adop tod this systom for tho samo reason that wo desire it now. Whilo it is ar gued by its opponents that it will dis franchise some white voters I will say that tho priuciplo of the greatest good to tho greatest number must hold with us. I will assure my follow Democrats that diligent care will bo bestowed upon them to enable thom to under stand this law, if, indeed, it is adopted by our State Legislature: That this system will ho evontually adopted I have no doubt, whether my bill is passed or not, and I may be pardoned for boing conscious of such State pride as makes mo anxious for South Caro lina to keep abreast of tho times in all deserving reforms and in progross. By some, objection is made to this measure on tho ground that it will bo unnecessary, inasmuch as wo aro to have a constitutional convention, and that convention will placo an educa tional and property qualification on tho suffrage. In reply to this I will urge that that convention is cot an assured fact, and at all ovonts it cannot bo held boforo tho next olection, and if, by any action taken when it is hold, this systom should not bo needed it will then bo easy enough to repeal it, but until some thing bettor Is offered 1 would urge tho adoption of this measure. I hold that it will accomplish certain rosults : 1st. Maintenance of white supre macy, because a largo majority of tho negro vote of this State is illiterate, and oven many of those who can road will not be able to exorcise tho suf frage under this systom. I estimate that this law would chango our voting population from 100,000 whites to 120, 000 colorod votors to 70,000 whitos and 20,000 colored voters. 2nd. It would ensure a socrot and untrammoled vote?which would do much to rid us of that excrosonco on our political life, viz: Bossism, and would bo a safeguard against bribery. 3rd. It would insure fair and peace* ablo olections. This has been tho ex perience whorover i^t bos boon tried, and there is no reason why it should not bo so with us?thus avoiding tho antagonisms hotweon tho races which aro so common on oloctlon days, and also dimishlng the friction that exists always betwoon the different political parties. I do not think that any ono bolioves that universal suffrage gives the best condition, certainly not undor the circumstances under which we live, and the qualifications which this 'system imposes can tend only to bring about Buoh a condition as will glvo us bettor mon in public positions and thus give us better government. I am woll aware i bat in touohiug the question of the suffrage, I am troading on ground that has many dangers, and it has been w.'th some reluctance that I have undertaken to introduce such a measuro; but believing firmly that such a measure will insure to the per manent benefit of South Carolina, I will use my best endeavor to bring about its adoption. Ridh'd I. Manning. Wedgofield, S. C. FEEE COINAGE AGAIN. THE SILVER FIGHT TO BE RE SUMED. Congressman Blaud Says that Events Have Sustained tho BiiuctallistH Ho Favors Applying the Crucial Test in Congress and Will Again Of fer a Free Coinage Measure. Washington, November 20.?The indications aro that tho free coinage fight will bo renewed with increased vigor at tho opening of Congross. - . Tho mon who wagod such a stubborn warfaro for silver in the House during tho oxtra session, appear to have gathered confidence by tho ovonts, which haVo followed tho repeal of tho silvor purchase act, and an organiza tion of thoir forces is now being per fected. For tho past two or thrco weeks, tho silvor men havo boon singularly quiot. Tho reason for this has now become apparent. Tho silver mon woro waiting for a sufllcont period to elapse aftor tho repeal of tho Shor man act in order to domonstrato to tho people that the silvor purchase law was not the cause of tho groat financial depression and that Its repeal would not prove a panacea for all tho com mercial evils, which havo accompanied tho times. Thoy think tho demonstra tion of this fact is apparent to tho American pooplo now, so tho silvor mon aro uroparing to say to tho two Houses of Congress next month that the legislation demanded by tho ad ministration has been a fauro in re storing commercial prosperity; that tho positlon_of the silvor men in urg ing froo coinago at tho last session has been vindicated and that now tho Democratic party in Congess should dovoto itsolf to redeeming tho remain ing pledges of tho last Democratic national convention on tho subject of silver and financial legislation. they will have to TOB THE MARK. With this object in view Chairman Bland, of the committee on coinago, weights and measures, is preparing a bill, which ho, as tho loader of the opening of tho froo coinage men, will introduce at tho next session. It is further declared .by Mr. Bland to be his Intention to afford no loophole of es cape for those Democratic Congressman who havo talked for free coinage to their constituents at home, but voto against It on a plausible pretext, when tho matter camo up for consideration in tho House Scores of Democratic Congressman, he says, declared themselves devotedly attached to tho free coinage cause dur ing tho rcceut session, but explained that they thought the wiser course at the time was to lopeal the silvor pur chase act and thon to take up the free coinago question, pure nnd simple, and consider it at the regular sosslou. By reference to a carefully prepared list, Mr. Bland declares that thoro is a clear majority for free coinago in tho Hous of Representatives if their priv ato declarations to him during the extra session aro to bo relied upon, and bo proposes now to bring theso gentle men to tho crucial test. Tho measure which Chairman Bland will introduce at tho opening of the session is substantially a re-enactment of tho law of January 18, 1837. It is the opinion of tho silver mon that a bill re-enacting this law will command greater strength and afford less op portunity for evasion than any other measuro which could possibly bo pre sented. Tho act of 1837 was simple and brief. It provides for silvor dollars of 412 1-2 grains and declared that " tho dollar, half dollars, quarter dollars, dimes and half dimes shall be legal tenders ac cording to thoir normal value for any sums whatever." plans of FREE COINAGE men. In regard to his position and the plans of tho silver mon, Chairman Bland says : " I do not boo that tho ropoal of tho Sherman law has changed the situation for tho better?Indeed, it appears to have rather changed it for tho worse. Tho truth is, and tho people now thoroughly realize, it, tho silver pur chase law has had nothing to do with tho hard times. Tho hard times camo on and thoy aro with us and thoy can not be waved away by tho wand of any magician, however potent his charms, or howovor rovorential his personality. Wo have simply got to go through a process of liquidation before good times come again and that was necessary whether wo repealed the Sherman law or not. This panic, like all othqr panics, finally roachod a point where tho people got afraid of the banks and afraid of each other and there has now gottoboagonoral liquidation and blot ting out and a beginning anew. The re peal of tho Shorman law will only tend to make liquidations harder for the debtor class of pooplo, because it con tracts the currency and leaves the business in tho country without a sufficient volume of money to supply tho growing population and develop ment of industries. Ono of the great, tnistakos thoso pooplo seem to have mado about repeal is that their plan was to promote schemes in Wall street bonds and mortgages and things of that kind. It was supposed that re peal would do this, because it was thought that European capital would bo invested here more readily by the ropoal of the silver purchased act than by letting it stand. But It seems that oven in that thoy havo boon greatly disappointed. europe still SUSPICIOUS. Thoro seems to bo now less con l fidenco in Europe in our financial con dition than thoro was boforo. 'Thoy aro sending no monoy here and are continuing to draw away ours. As the gold basis which wo now havo hero totals to contract currency, it is mak ing tha Minos harder everywhere. Tho contraction of tho eurroncy and a gold basis will tond to make a sharp demand for gold in Europe as well as horo and will Injuro our producers by causing low prices for everything wo send to Europe. This also makes lower prices horo, and honco, sinco tlio passage of tho repeal act. wheat and cotton havo gone down in tho market Instead of going up. " If we can roduco the tariff very largely bo as to mako trado oasior and froor, tho exchange ol our commodities for commodities abroad will tond somewhat to relievo tho farming in terests of thla country. Henoo, I think we should at least immediately ImpoBo a large income tax." " We expect to undertake to pass a froe coinago bill before Congress ad journs," continued Chalrmaud Bland deolfllvoly. " What success wo will havo is vory uncertain. I shall introduco a bill reviving the act of 1837 and thus providing again for tho froo coinago of standard silver dollars. My position is that wo should repeal now all of tho Shorman laws ou silver and have the ! law of 1837 re-enacted and thus put 1 silver back to where it was boforo ho put his hand on it. Since we have re- I pealed ono of his laws, let us ropeal all Of thom. I think that a majority of1 the committee on coinage, weights and measures will favor such a bill as I am preparing, t think tho late election will stimulate some of them to a belief in the wisdom of such a poliey. Tho last election seemed to bo a general want of COUfiden.ce of tho Democratic Jioliey. The result of the late election loos not look either as though tho people had much confidence that tho ropeal of the .Sherman law would help them. OUGHT TO PASS A TARIFF BILL. " My purpose is to introduce such a bill and have it promptly aeted upon by the committee. I have no doubt that it will be so and have it reported baek to the House. I am willing to wait, then, a reasonable time for tho discussion and passage of a tariff bill boforo pressing the free coinago meas ure. We will pot embarrass them and will givo no one an excuse for evading tho issue. 1 think our peoplo ought to go to work and pass a good tariff bill at an early date and after that is done, I propose to see if wo can not have some financial legislation. For my part, 1 am a free trader and do not belong to tho incidential pro tectionists or to any other class of pro tectionists. Of course if they put wool on tho froo list, I shall expect and insist on a very heavy cut in woolen manufactured goods. I should consider it very unfair to put wool on tho froo list, unices wo get a compensating reduction in manufactured woolen goods." DEFENDING THE ALLIANCE An Important Letter to Gen. Wade Hampton ?He Is Asked to Show the Fallacy Of the Alliance Demands. The following is an open letter to Gen. Hampton from the official repre sentatives of the Farmers' Alliance : Hon. Wade Hampton, Washington D. C. : In a recent communication over your signature in The State we note especi ally the following passage among others of equally surprising tenor : "The time lots come when the line should be drawn between those who stand upon the Ocala platform and those who stand upon that of the na tional Democracy. No man who up holds the former can properly claim to ho a Democrat." A little further on you refer to the " fallacies of the Oeala adherents." As the. platform referred to by you is the platform of the Farmers' Alliance in this State, we as representatives of that body of the sturdy citizens who have never voted any but the regular Democratic ticket. State and national, respectfully ask that you point out the fallacies jn that platform, and show v. herein any plank of that platform is inconsistent with the principles of broad Democracy enunciated by Jeffer son and preserved unimpaired through a century of struggle in the platforms of the Democratic party. If we are wrong, as individuals or as an Alliance, we desiro to be set right. Truth, right ami justice to all aro our objective points, and light leading in those di octions is gladly "oooived. Whateve tho source, whether highest or lowest* whether from a friendly or an unfriendly quarter, light and logic will always bo accorded a rational analysis at least. This is the teaching of our order sind in this spirit we ad dress you, sincerely desiring and ex pecting an answer. And we may add that the great organization we repre sent, comprising not only the backbone of tho State's industrial pi ogress, but the majority of the people ; comprising tho great majority of those who bared tneir breasts to the bullets of South Carolina's foes, and who have furnish ed the great majority of tho votes by which Democracy won the light that placed yourself in the Governor's chair and subsequently in tho United States Senate?that great organization will ex pect an answer befitting tho memories of the past as well as the exigencies of the present. For your convenience in answering wo will summarize the several planks in the Ocala platform which you have denounced as fallacies, and will indi cate the questions we wished answered. 1. The first Ocala demand is for tho abolition of national banks and the issue of the people's credit direct to the people upon such security us the people can give and at such Interest as the national bankers have enjoyed for near thirty years past. Where is tho fallacy in this ? Is this undemocratic? What is fallacious or undemocratic in the demand for an increase of the cir culating medium to tho same per capita ratio that existed whon the pub lie debt was made ? 2. We demand that ligislatfon be en acted that will prevent a relrttivo fow from gambling in tho pooplo's bread and meat and clothing, whereby mil lions of dollars are forcibly wrested from the necessities of the puoplo. Is there anything un lomocrutic in that? Where is the fallacy V 3. We demand tho free and unlimit ed coinago of stiver at thorwtioof /(> to 1, in order that our debts may be payable In the same sort of dollars t hat, were current whin the debts wore made., Wo maintain 'that it Is in famous to require us by legislation to pay the mortgage on our farms in dollars that cost double us much of our labor to got. Is this undemocratic? Where is the fallacy ? 4. We demand Unit the public lands shall be held for aetuaF. settlers, and that holdings by aliens or syndicates for speculative purposes' shall bo pro hibited. Is this undoinocrratlo? Where is this fallacious ? ?. We demand a taiMlV. for revenue only and that government- ,bo economi cally and honestly adtnlnftsterod that tho tariff be takon off the- necessaries of life and levied upon the luxuries', that the bulk of tho taxes be raised upon the incomes of th.v people rather than upon their noCMSSitios. Is this the plank you had i n mind when you said ?' No man who upholds (it) can claim to bo a Democrat? Is this a " fal (>. We demand "tho most rigid. honest and just State and national governmental control of the means of public Communication and tr ansporta tion." and if the people's sul.Vrugo be still abused then that the peoplo con struct and operate their own radlroads and telegraph lines. Is this ovidcmo oratie? Is it fallacious'.'' 7. Wo demand the election of fjnited States Senators by direct veto o>.f tho people of each State, fs this undV'rno oratlo V In it fallacious ? YOUl} early attonion will greatly oblige tho organization wo ropreftont and at the same time tho madorltt* ol those who voted for Mr. Cleveland u\st year on the same principle libat thoj votod for you in 187(5. Vory rospectfully youre. (Signed) W. Dk EVANB, President South Carolina state Farmers' Alliance. . j. Wm. Stokes, Lecturer South Carol i as State Farm ors' Alliance. THE MOB IN BEAUFORT. Tho State Constables Assaulted by au Angry Negro Mob?The Town Au. thorittes aro Powerless ami the Police Ineflloieut, Special to The News aud Courier. Beaufort, November 22.?For two hours last night this town was in the hands of a lawless, violent mob of negroes. Upon tho arrival of tho steamer Alpha from Savannah the negroes boarded thesteamor, on which woro known to bo two of the State's constables, Messrs. Swan and Strobol, who had gone to Port Royal to intor copt tho landing of a barrel of whiskey alleged to bo on lx>ard and consigned to Beaufort. By some means or other it had boon ascertained that a searc!? warrant had been issued during the day and that tho officers would be up with tho Alpha on her arrival at Beau fort at 7 o'clock. The town authorities and marshal and policemon woro powerless to pre vent tho surging crowd from reaching tho dock, and by tho timo the goods were being landed thoro must havo been, from all accounts, throo or four hundred negroes who had forced their way and who commenced to guy and to abuse the constabulary and to put obstacles in the way of getting tho object of thoir search away. It turn ed out to be a barrel of beer instead of whiskey as described in tho warrant. The constables had a hard timo gotting the barrel rolled from tho steamer up tho dock to tho stroot, where thoy endeavored to hiro a wagon to take it to some dosignatod place. They offered to pay ton dollars to some of the howling mob to assist them in rolling, it away. This was indignantly declined with curses and abuses from tho mob of men, half grown boys and urchins, who even kicked and cuffed the constables hav ing charge of tho barrel between them. From $2"> to $100 was jeoringly de manded by tho hackmen for a wagon. Finally, when gotten near tho street, a brickbat or some missile was hurled and struck Constable Swan over the right eye, breaking bis nose and in flicting a terrible cut in tho oyo, which bled profusely. Ho was knocked al most senseless and staggered with pain. During the whole progress of their attempt to got tho barrel secured they were pelted with rotten eggs and other objectionablo- missiles. Tho barrel was placed in tho hands of the sheriff and was given to two negro men to bo carried to the jail, as ho could not hire a wagon for lovo or money. Dur ing their transportation of tho barrel along the street thoy let it drop and tho contents rolled out aud some smashed and then such a scramble commenced that all that was left of tho contents when it reached the jail was six bottles. The captain of the Alpha had at first refused to allow the barrel to be taken, as the warrant called tor a bar rel of whiskey, and this was a barrel of beer. He finally consented to itsro moval upon requiring the constables to give him a receipt for a barrel of whiskey, and the sheriff receipted to them for tho same. The scone as described beggars description and was simply disgrace ful, and is a commentary upon the helplessness of our town authorities to enforce order. The police system is weak in the extreme, both in its moral and physical attributes. Our former town marshal, .lohn Green, a big, burly, black negro, who heretofore, on account of his over-awing presence, could always disperse a negro crowd, was displaced by the present town ad ministration, und there are few that can take his place upon such an emer gency, so the town must continue to suffer for the inefficiency of an ad ministration and a police force that has no backbone to it. No law-abiding citizen but must look upon such scenes of lawlessness and violence with disfavor, and there is but one expression, that of condem nation of tho occurrence. Some wit nesses of tho riot describe it as a good-natured crowd, at first bent only upon guying and badgering the constables, until the hurling of the brick into the very eye of the consta ble, when things looked sorious. Tho constables at one timo placed their bands to their hip pockets, and a dozen negro voices cried out, " Don't you pull that out !" '" Wo got some, too ! and such like expressions, and, it is said, a bloody riot might have been precipitated bad thoy done so. Others regarded the appearance of things as serious from the beginning and were apprehensive of terrible consequences. To the most thoughtful it inspires re flections of the danger of such prece dents being established as tho re.iis tance by force of any law upon our statute books. The constables aftor having dorn what they could retired to their apart incuts, and left this morning for Co lumbia. From the Columbia Register, Chief Constable (Jaillard and Con stables Swan and Strobol bavo arrived in Columbia. Their mission was to seo the Governor concerning tho affair. Mr. Swans face was black and swollen from tho injuries received during the riot and Mr. Strobe] also looked much the worse from tho experience lie bad passed through. Tho trio went direct ly to tho Governor's ofllce, where they had a long consultation. As was natu ral, the Governor was considerably worked up over the matter, all of which i was explained to him. The constables were seen and tho de tails of the occurrence was told as fol- ' lows : I It having como to the knowledge of the constables that the steamer Alpha* j which plies semi-weekly between Beaufort and Savannah, was bringing liquors to the State contrary to tho law, Messrs. Swan and Strobel pro ceeded to Beaufort and scoured war rants empowering them to search the Alpha for contraband liquors. They boarded the steamer at Port Royal and Mr. Swan presented the war rant authorizing him to search tho vessel and seize whatever liquors they ?might lind. They found a bar rel of stuff marked "C. & M.," Beau fort, S. C., and sovtral other packages of liquors consigned to various parties in Beaufort. The constables made a demand on tho officers of the vessol for tho liquors and they refused to sur render it. When informed by the con stables that tho liquors would be taken anyhow, the captain and tho clerk of the l>oat continued to protest against the seizure. The boat arrived at Beaufort about 8 o'clock in tho evening and was mot at tho wharf by a crowd of two or three, hundred whitos and negroes who threatened to throw tho constables ' overboard and kill thom. Tho officers ' of tho boat still refused to surrender ? the liquors and upon being notified tihat ' the stuff would be seized peremptorily, they sent for their attorney, Col. Wil liam Elliott, who whon he had ox ami tied tho warrant and seen tho an? 1 thority under which tho constable* were acting advised thom to surrender tho liquors. They refused to do this and when the constables attempted to I seize the liquors they were assaulted by tho crowd with a shower of rooks and rotten eggs, the crowd being arm ed with palings, sticks and weapons. During tho fusilade, which was accom paniocl with curses and threats, tho constables woro hit aovoral times aud Constable Swan was struok in the right eye with a brick, indicting a severe wound and knocking him down across tho barrel of liquor ho had in chargo Ou the wharf. Tho constables made an effort to hiro a wagon to convey the liquor to the Sheriff, whon tho infuriated mob threatened death to anyone who would attempt to haul it away. Tho con stables then, started themselves to carry the barrel of liquor from the wharfj to the street, but were prevent ed from doing so by the mob, which, boing urged on by an ex-barkeeper, again began throwing rocks bricks and eggs at them and hit them sevoral tunes. This was kept up about two hours and a half, during which timo tho con stables held the mob in check until tho shoriff arrived and assisted them to sholtcr. Tho barrel thoy had waB carried to the jail, but none of tho other stuff was gotten hold of. Tho constables did not attempt to use thoir pistols because they knew that to do it moant certain death, but thoy bravely stood thoir ground against tho assaults of the mob which evidently wont to tho wharf for this very purpose. Tho result of the conference with tho Governor was that Chief Constable Gaillard was instructed to procod at onco to Beaufort with what constables ho had and enforce tho law. Tho con stables recognized several of the mob. These and all others who can bo found out will be arrested and prosocutud to tho limit of the law. Governor Till man would say no moro a bo id the affair except to say that the law shall be maintained and the con stables supported in their authority by whatever means may be necossary. Assistant Attorney General Buchanan will go to Beaufort this morning to prosecute tho parties engaged in re sisting tho law and the assault on tho constables and give the constables such advice and assistance in the promises as may be necessary. BIG RAILROAD SWINDLE. Several Lending Lines Victimized? Bogus Tickets Not Detected Until llenvy Losses Hud Been Sustained. CHICAGO. November 21.?One of tho biggest railroad swindles ever perpet rated in this country lias just come to light. Counterfeit railroad tickets to the amount of over $100,000 have been honored in the last four weeks by tho Baltimore and Ohio, Erio, Pittsburg aud Western, Nicklo Plate and other roads.. There- was absolutely nothing on tho face df the t ickets to Indicate that they woro counterfeit. They wore accepted without question by conductors, passed readily by tho ticket counters, and were entered as of legal issue by tho various ticket auditors. The first inti mation Of crookedness cropped out in the auditor's office of one of the victi mized lines nearly three weeks ago. In checking the used tickets from tho same form number were found. Tho original record of two tickets of tho auditor satisfied himself that both tickets wore genuine and sent a noto to his printer scoring him sevorcjylftir his carelessness. Tho printer appear ed in person with an indignant denial of the charge, but when tho two tickets were shown to him was compelled to acknowledge that the error was mado in his office. The next day ticket auditor discov ered sixty-seven duplicated tickets in the collections. Thoro seemed no possibility of the tickets being contor foit. Thoy were exact duplicates. The next day nearly 300 duplicated tickets appeared in tho collections, and a panic reigned in the auditing depart ment. Buch of the tickets road from Chicago to New York, and was worth $18. The one day's collections showed that tho company had honored at lei t $5,400 worth of tickets for which it li^d not received a cent of revenue. Experts wore immediately called in. At the end of three days during which over 500 more duplicated tickets wore found in the auditor's office, one of the experts declared that the duplication was a counterfeit. With t he aid of a powerful microscope ho had at last dis covered a minute imperfection in a small letter ,'o'* In the duplicated tickets. In all other respects the jobs were exactly alike. The paper, ink, type and prcsswork could not havo been more alike it" both had been print ed consocutivoly with exactly the same materials. Meantime the other roads were hav ing the. same, experience. In each ease the tickets were passed without ques tion by all the handlers, and not ono was detected until the duplicate num bering appeared. Each of the roads promptly issued minute instructions to its conductors to take, up all the coun? torfolt tickets and enforce payment of passage from persons holding'tliem. Each conductor was told how to re cognized counterfeits, and the first day the four roads named took up over OOu of thom. The passengers were na turally indignant, hut each was com pelled to acknowledge that ho had bought tho ticket of a Chicago scalpel1! With the information thus obtained, the Victimized roads engaged the sor Vloes of a detective agency and began the work of .'?'.inning down the counter feiters. The ende of justice would he perverted by publishing all tho evi dence they have obtained. II will be presented to the grand jury. Up to date the. roads have expended ovoy $11,000 in securing proof which it confidently bolieved will land the ?n'iminnls in the penitentiary for long to>?;is. There is no means of knowing how many tickets wore sold by tho counter* feite.'s. The railroads now have in their possession about $200,000 worth, more than half of which were honored for transportation. -mm ? ? ? ^?????? -. One Thousand Dead.?-a special dispatch to the London Times from Meshed brings further details of tho earthquake that occurred at Kueham, in the northern part of tho province of Khorassan, l'essia. The town was completely destroyed. The loss of life was immense. Groat crevasses opened in the earth, through Which the water flowed in torrents, causing the Atieek river to overllow its banks. Tin; fertile region around tho city was inundated, and large gardens and extensive vineyards swept out of existence. The people of Kucham had no Chance to save anything. The shock was so severe that the largest houses In the town, including the resi dence of the governor, almost instantly toppled over, crushing hundreds of poople to death. Tho town had a population of be twoon 20,000 and .$,000 |>crsons, and ft is thought that at least 1,000 porishod. Many persons woro carried away by i dono in the valloy, but it is feared that h many villages below Kucham wore de stroyed. tho flood that flowod down It is not known yet what