Historical Newspapers of South Carolina

Below is the OCR text representation for this newspapers page. It is also available as plain text as well as XML.

BOND DM AGAIN. CHAPTER FURNISHED BY A PROMI NENT AUGUSTA MAN. Curious Revelation by a Bond Bidder— Tillman Dec Ines an Offer to Take the Bonds at Par—Must do Business Through Rhind—Sta'e loses SI35,' COO. A prominent business man of Augusta, Ga., \yho is visiting this city, said yesterday that the facts in the Tillman South Carolina bond scandal had not yet been published. “I was in position.” said he, “to know the inner workings of the entire deal, for it was nothing else. I formed one of a syndicate organized to biu for for the issue of South Carolina bonds and through ray effort* to secure the bonds leaded that the whole affair had been man ipulated by Governor Tillman, and that ho and other State officials were largely intersted in having the prearranged pro- grame carried out. “The bond issue authorized by the legislature was to be $15,000,000 of 4$ per cents. I took an interest in getting up a syndicate to make a bid for the entire issue. The syndicate was readily organized, and con sisted of a number of banks of Charleston, S. C., and Augusta, Ga. It was known that Tillman had declared he did not want the Charleston banks to get any of the bonds, because that city had always opposed him and his methods. “To avoid the appearance of the Charleston banks in the bid, it was arranged that the bid should be made by the Georgia Railroad and Banking company, of Augusta, through C. C. Goodrich, cashier. This bank was down for $200,000 of the bonds if the bid was accepted. In other words the Georgia Railroad and Banking company was acting as agents for the syndicate. “When we had the bid com pleted we sent an agent with it to Columbia. The bid was for the entire issue of $6,000,000 at par. Our agent saw Governor Tillman and submitted the bid. The governor seemed confused, but said that he could not re ceive the bid, and that if any bid was to be proffered it would have to be made through his agent, Golden Rhind, of Au gusta. “Our agent said he thought a matter of this kind should be settled at headquarters, and asked if the legislature would receive the bid. ‘It will not,’ said Tillman. ‘It will do just as I say.’ “Shortly after this, when we saw that we could do nothing, we sol 1 to Mr. Rhind for $2,- 500 our Charleston supscription list and let the matter alone. “The bonds were sold to these Charleston banks and to others for $6,000,000, but the State got only $5,865,000, or at the rate of 073. As we had made a bona fide and guaranteed bid of 100 to take the bonds at once, the State of South Carolina lost just $135,000. The device by which the transaction was sought to be covered up was cleverly con ceived. The bonds were en- graved to bear interest from January, 1893. By the term of sale the State did not get its money until July, 1893. The interest coupons for the six months, January to July, were turned over to the agents and others interested in the trade. At 4i per cent, a year the in terest for six months ammount- ed to 2J per cont. or $135,000. The Stale paid interest on $6,- 000,000 from January to July, while it did not get the use of a cent until July. “As the entire $6,000,000 was paid in by the syndicate in July, Tillman could make the specious claim that the bonds bad brought par. His blind fol lowers did not know that their State had paid interest on the $6,000,000 for six months before it was placed in the treasury. They had brought par so far as the buyers were concerned, but the people of South Carolina had to pay $135,000, or a six months’ coupon, to close the deal. “ Whogot the$135,000 I do not pretend to say. The men who purchased die bonds did not, and the only others interested were the agents and the State officials. The agents get up such deals for pay —it is their business, and a legitimate one— but it is stated that at lea t half of it went to some one be sides the agents, and the State officials are now busy denying that they got any of it. “One interesting feature of the matter is that Tillman is accusing President Cleveland of selling bonds tor a less sum than he could have obtained f< r them in open market. Mr. Cleveland accepted the best bids. Tillman, on the other hand, refused a bid for immedi ate purchase at par, and sold the bonds at a loss to - his State of 21 per cent.”—New York Times. — UST OF PENSIONERS. A FREE COINAOC OATSOHISM, Th* Amount Which Cleat B and C Which Will Receive Class B,—J. p. Byrd, W. Eyca Baskins, W. J. Windham. Class C.-Robert Harrell, R. A. Howell, Beni. Outlaw, D. D. Boan, Tnos. Poison, J. R. Hun £ r ’ W. J. Dew, E. A. Bostick, M. 8. Jacobs. E. 8. C. Davis, H. M. Peebles, 8. V. Scarbo rough, N. 8. H. Privitt, E. A. Wilson, M. F. Byrd, F. E. Witherspoon, M. A. E. Lewis, M. E. Braddick, E. J. Tyner, E. G. Howie, C. A. Hill, J. J. Reddick, Harmon Joner, Jas. A. Truitt. M. K. Williams, Peter Odom, Randal Cross, Y. J. Walters, G. JV. Eervin, J. Nelson Watfud, H. J. DuBose, T. L. James, A. Rogers, 8. P. Anderson, Ralph Braddick, J. E. Buach, Thos. E. Colvin, J. D. Crowley, Wm. Dalrymple, Alex Edwards, Chalee Floyd, D. A. G xiney, J ames Garrison, Robert Griggs, J. R. McKenzie, J. G. Moody, J. W, Northcut, J. A. Odom, J. M. Woodward, J. C. Windham, L 8. Tolar, J. C. Teal, H. Tyner, J. A. Smith, W. H. Wadfud, Dave Segars, Bryant Watson. Widows.—Maria Flowers, Caroline McDonald; Ann Amer- son, J. J. Mozingo, Malinda Gainey, Hannah Goodson, Nancy Lundy, Amelia Ander son, Mary Fields, Margaret Hill, Martha Harrell, Susan Reddick, Margaret Cooper, Lousia Morrell. Mary William son, Susannan Best, Anna Damphrier, Mira A. Severance, Margaret A Christmas, Lucy Ann Poison, Hannah Powers, Sallie H. Huggins, Minerva Bradshaw, Sopbony Rhodes, Elizabeth Byrd, Eliza Alfred, E. D. Anderson, Julia A. Andrews, Mary E. Beck, Mary J. Bell, Mary Carter, Winnie E. Chapman, Sarah Flowers, Elizabeth Gainey, Mary Gainey Nancy Gainey, Elizabeth Griggs, Eliza Hicks, Elizabeth Hudson, Mary Huggins, M. A. Hutchinson, M. C. Jordan, Louisa Kelly, Larvinia Marshall, Maria Melton, Nancy Odom, Mary Outlaw, M. E. Parker, Elizabeth Reddick, Ellen Stokes, Martha A. Suggs, 8. M. Truitt, Dilly Watfud, Susannah Crowley, Harriet Elmore, M, A. DeWitt, Catherine Hinson, Eliza McLendon. The total amount for Dari- lington county is $2,318.30. Of this amount those belonging to class B. get $29.10 each and those belonging to class C. will receive 19.40 each. Mr. W. Albert Parrott, clerk of court, says that he has the monev now and is ready to pay it out to the pensioners. WINTHROP SCHOLARSHIPS. The Competive Examination* to be Held July 30. A fine opportunity to the young women of the State to secure a college education will be given on July 30, when the competive examinations for the Winthrop scholarships will be held-in the court houses in the different counties. The examination is open to all girls from 15 years old up wards, who are physically sound and who intend to teach. No one will be debarred because of attendance at this college during the past session. Arith metic, grammar, geography, United States history, writing, spelling and composition are the studies in which the apli- cants will be examined. A scholarship is worth free tution and $44 in money for one session, and it may be continued from year to year until gradua tion upon the good behavior and earnest application of the student to all her duties. The scholarships will, in no instance, be continued to stu dents whoje rank or standing is low, whose general demeanor is objectionable, who do not give promise of usefulness as teachers, or whose health or other circumstances prevent constant attendance or perform ance of college duties. Each county is entitled to as many scholarships as it has repre sentatives in the house of rep resentatives. _ The Magnetic Well. Those who have not visited the magnetic well in the factory yard would do well tp t go there and test the thing for them selves. The Editor op The News and Mr. J. R. Coggeshall found out one day last week something about the magnetic power which the water 'of this well has. Mr. Coggeshall dip ped his knife blade in the water and the watei left on the blade was sufficient to lift up a pin. The! same thing can be done more easily with a needle. It ip said that such water is good to cure rheumatism and that there are very few magnetic wells in the world and those few are very valuable. Darlington may yet be a resort for the rheumatic on account of her wonderful well. Leaf tobacco in pack barns, town and country, insured in best companies and at lowest rates. Mrs. Lucy M. Norment. Ought to Opon th* Som* People. The purpose of this series questions and answers is to put, in simple form, the problems raised by the free poinage con troversy, with a plain answer to each. All statistical facts giv en are transcribed from official publications, and a list of al authorities used is published at the end of the Catechism. Q. What is the fundamenta claim of the free coinage advo cates? A. They claim that the amount of money in circulation has baen decreasing since the demonetization of silver, and that this decrease has caused general fall in prices. Q. Is it true that the money supply has been decreasing? A. It is not. Q. What are the facts? 'A. So far as the United States is con cerned, there has been an enor mous increase. In 1860 the money in circulation in this country was $442,102,477; in 1872 it was $738,309,549; by the treasury bulletin at the opening of the present month it was $1,521,584,283. Q. What does this show? A. It shows that our money supply has increased 240 per cent as compared with 1860, and 106 per cent as oompared with 1872. Q. Hat the money supply in creased! faster than the popula tion? A. Very much faster. Q. How do you prove this? A. By dividing the total money in circulation at each date by the total population of the coun try at the same date, and thus finding the circulation per cap- itai* Q. What does such a process show? A. The per capita cir culation of the United States on July 1, 1860, was $14.06; on July 1, 1872, it was $18.70; at the opening of the present month in 1896 it was $21.35. Q. But has not the money supply of the world at large been decreasing? A. On the contrary, it has been increasing rapidly. Q. How is this proved? A. By the statistics of new gold pro duction. Q. How large has this produc tion been? A. The reports of the director of the mint, which are acknowledged authority, show that from 1873 to 1894 inclusive the world's total new gold pro duction has been $2,526,834,900. Q. Is this new product of gold increasing or decreasing? A. It is increasing with enormous ra pidity. Q. Give the figures. A. In 1873 the world’s gold production was $96,200,000; in 1880 it was $106,436,800. In the year 1890 it was $118,849,000. In 1894 it was $180,626,100. For 1895 the exact total is not yet complied, but it is closely estimated at $199,500,000. Q. What does this mean? A. It means that the amount of gold annually added to the world;s money supply has more than doubled in the last twenty- three years. Q. Is not this annual* rate of production liable to decrease? A. On the contrary, all experts in the American, Australian and South African gold fields look for a further and very heavy increase over the present rate of production. Q. But has not the disuse of silver with full coinage facili ties cut oown the total annual addition to the world’s metallic money supply? A. It has not. Q. Why? A. In 1873 the world’s gold production was $96,200,000; its silver production 1,800,000; total, $178,000,000. »st year the production of gold alone was $199,500,000. Q. Wag not the combined an nual production of gold and sil ver larger than this in the “bon anza davs?” A. It was not. Q What was the highest re cord of that period? A. Between 1856 and 1860, the world’s aver age annual production of gold was $134,083,000; of silver $37,- 618,000; total, $171,701,000, or less, by $27,800,000 than last year’s production of gold alone. Q. What are we to say then of the argument that the money supply, since silver free coinage was abandoned, has been con tracting? A. That it is utterly false as applied to the world at large, and especiallj so as ap plied to the United States. Q. Is it tr te, nevertheless, that the price of wheat and many other farm products has fallen heavily? A. It is. Q. How are such declines, in wheat for instance, to be ex- I dained? A. By the eaormous- y rapid increase in grain-grow ing area throughout the world. Q. Has this increase been es- rapid since 1872? A. increase in grain-growing area- in this period, especially in North America, South Amer ica and Asia, has never been approached in any equal period in the history of the world. Q. How do we judge of act ual competition in the sale of wheat? A. By the supplies thrown annually on the world’s great distributing markets. Q. What marxet in particu lar? A. England, where most of the buying nations go to pur- ohasaAhafrgfnto. Q. What are the As reesatty as 1880, ain impotted, for and re-export, 55,51 red-weight of wheal w _ increase over the preceding an nual average. In 1805 i ported 81,749,955hundredwi . Q. What has made po this remarkable increase in wheat production? A. The ex ceedingly rapid development of transportation facilities in new ly cultivated grain countries among them India, Russia an the Argentine Republic. Q. Has there been an increase in the United States itself? A. An enormous increase. Q. How large? -A. In 1875 there were 26,381,512 acres of wheat cultivated in this coun try; in 1891 there were 39,915,807, an increase of 50 per cent. The “ield in 1875 wss 292,136,000 ushels, a heavy increase over preceding years. In 1891 the field was 611,780,000. Even ast year, with a greatljr reduc ed acreage and a partial crop failure, the yield was 467,100,000 bushels. Q. Has the yield of other crops increased corresponding ly? A. It has. Q. Give instances. A. The cultivated area of corn in the United States in 1871 was 34,- 091,137 acres; in 1891 it was 76,- 203,515; increase 124 per cent. The yield of corn last year was more than double that of any year prior to 1876. Both the acreage and the* average annual yield of oats have doubled since 1871. Our cotton crop in 1894 was 50 per cent greater than in any year prior to 1887. . Was a decline in grain and cotton prices, nnder such conditions, Inevitable? A. As inevitable as a decline in the price of clothing, or furniture, or books, or steel rails, or pins, when competition in their manufacture has extend ed enormously. Q. Would free coinage help the producers of grain to a tar ger profit, under such condi tions? A. Not in the least. Q. Why not? A. Because if the nominal price of grain went to rise through inflation of the currency, the price of every thing else would rise also, and the farmer would be relatively no better off than he was be- ] ore. Q. Do the free coinage advo' cates use in their speeches those statistical facts vfhich we have examined? A. They do not. Q. Can the subject be under stood without examining them? A. It cannot; the whole ques tion rests on these facts regard ' ag money an 1 prodnetion. Q. Why do the free coinage paakers not use these facts and igures? A. Because the facts and figures are against them. Q. Is there any dispute over the truth of the figures quoted in these answers? A. They are undisputed, even by free coin age men. They are taken from he reports of the United States treasury, of the department of agriculture, of the director of the United States mint, of the Jnited States bureau of statis tics, and of the British board of trade; all of them, in their res- >ective spheres, the highest mown authorities.—New York . Evening Post. Best 10c socks Oheraw knit. in the world, WIN Yo» H*lp The Good Cmim? Mrs. Warley requests those who have anything to give to wards erecting a monament to Soutn Carolina’s dead in the cemetpry at Winchester, Va., to leave their contributions at KB Darlington News office here they will be received aqd turned over to her to be for warded to the proper persons. As Mr. Roues has been kind enough to promise half of the amount needed for the modu ment, South Carolinians cer tainly ought to be able to raise the rest. The smallest contribu tions will be appreciated. Insure your leaf tobacco, uowest rates given. Mrs. Lucy M. Norment. Th* Guard* Hav* Giv*n Up Th*ir Trip. The Darlington Guards will not be able to go on their Paw- ey’s Island encampment after Ool iumbia, 8. O., Addis Tillman Brevard. Miss child * , , her ottoort, the Rev I'astor of the at YorkviUe, killed' by the same bolt sing ak Brevard, N* O. day afternoon. They were horseback party which started off tp ascend Rich tain, six aulas from When nearly at the summit i thunder storm overtook the par ty. AH except Miss Tillmaa, Mr. Lee and Mr. NeNesly rode on to, a house some disi ahead. These three stepped for Mr. NcNeely to exchange horses with Miss Tillman on ac count of her horse being afraid of thunder. The rain came np and Jhey sought shelter nnder some bushes near which was a large oak tree. The tree struck by lightning which in stantly killed Miss Tillman, Mr. Lee and their horses. Mr. No- Neely, though a short distance away, was unhurt. Miss Tillman was twenty years old and would have made her debut in Washington socie ty next winter. A(f4eultur*l 8o««*ty. The annual meeting of the Darlington Agricultural flooie ty will be held at the fair grounds on Tnesday August llth, 1896 at 11 a. m. The following committees are hereby appointed to report. 1. Will immigration be beneficial to this section? J. J. Ward Chairman: Jno. P. Coffin, J. 8. Scott, J. W. Beasley, Bright Williamson, W. A. Carrigan. 2. Diseases of domestic i mals. E. R. Mclver, Chairman; H. Rogers. J. N. Kirven, J. White, J. C. Blackwell, E. Cannon. 3. Has the experience of the fanners of this section demon strated that it is practiced for tobacco to' take the place of cot ton as a money crop? B. F. Williamson, Chairman; 8. B. Gandy, D. M. Smoot, J. T. Rogers, L. L. Rose, W. E. Dar- gan, Paul Whijpple, W. F. Dar in, C. 8. McCullo Question box. All are invited to come. Every white farmer in the County is by resolution a member of the society. W. E. Jambs, A. A. Gatov, President. Secretary. lough. Th* ld**i P*MC*a. James L. Francis, Alderman, Chicago, says: “I regard Dr. King’s New Discovery as an Ideal Panacea for coughs, celda and Lung Complaints, having used it in my family for the last five years, to the exclusion of physicians’ prescriptions or her preparations.” Rev. John Burgus, Keokuk, lowo, writes: “1 have been a Minister of. the Methodist Epis copal Church for 60 yean or more, and have never found anything so benlficial, or that ve me such speedy relief as r. King.s New Discovery.” Try. this Ideal Cough Rentody. now. Trial Bottle Free ad J- A. Boyd’s and O. B. Davis' Stores. It was really an ungracious act in the Chicago convention to nominate for president the editor of a daily ne close on the heels of reference to the “lying news papers.” Tillman should mark every Bryan voter for slaugh ter.—Johnston Monitor. —0*1**! lerhwsS.SSSi , . SIMPSON * SIKPSOU; r, M»piy to PaulsnmoN. LAW Cl IN* - - Male sal Moral oa** in Armory Building. J. J. WARD, JLttora*}* et Lav, Q**nr,t.c. r WiH Pnlstks ia the Ceuris ef the Onutt. Ijrr. *• ©-iWoojis! Bobert MeaCudh W00D& k UCFJUUI. (Soeceaifp to Wood* * Speia.) 8. C. ot IMtUmtoa. Jeanne—lyr. m m i 4*. • if y • Arrive! Ill m Arrive I «tei' 11 a' (TuetwySyTM W. Boyd. G. W. Brown. BOYD: 4 BROWN- Hfiaai.«ra*Mtaa« Office in 8. IflSroo building, op posite Court House. DARLINGTON, 8. C. Jenl’OO—lyr. T. H. Spain, H. T. Thompson. SPAIN A THOMPSON, Attorney! at Lav, Darlington, - _ _ g. C. Office* in Darlington Guards’ Armory bnlldlng, flat floor. 8p*cUl attention gtvn te practice In the ProbstsCenrt. l-yr. Xx-JndeeJ.H. HnSam, R. L. Dar EftUf. BHottV Omwmpo Arrive Sumter.—...••• NOTE.—Train Bate i •paneetian for Oatessbi* t *•■1 Ul tlSpra •ffapra NeJI NeJS NdJi •# •* . • tiil •» ’ tss SIS fora :: IS u8 IS m 8. C Real Eilat ciai Law. Prc Hoe in 3rd and ■ fSS aewsftoper Tillman’s No efforts were spared by land A Valuable Editor Morrison ef Worthing- on, Ind„ Sun, writes: “You tave a valuable prescription in Clectric Bitters, and I can cheer fully recommend it for Consti pation and Sick a general system took equal.” Mrs. Annie I 2625 Cottage Grave Aye., r >, was all run down, oould eat nor digest food, had a backache which never left her and felt tired and weary, hut six bottles of Electrio tetters restored her health and renewed her strength. Prices 50 Kb. es.—hobth : Leavej a*** awe ••new ' :S! Arrive i •BJt Siaraii Kertl. BODTH BOVKD. leave pecially The inei those in charge of the matter to overcome some very discourag ;ng obstacles which confronted them from time to time, and to bring the excursion to a sue- cestfnl issue, but however re luctantly, they had to make the announcement on Monday last that the entire trip had to be abandoned. ^ D**d L*tt*rs. Letters'addressed to the fol lowing persons remain uncalled for at the Darlington postoffice, and are advertised as “dead” for the week ending July 20th: E. A. Hicks, J. C. Fowler (3), J. F. Fortune, W, T. Pool, L. Bonnapart, N. C. Morrell, Ed win Ervin, Mrs. Delia Baokers, Misses Francis Martin, lilie Holloway, Eva Lee, Essie Lee Brown.' Wear Cheraw knit sock*. Boy Store. fU d’s < Get a battle at J. A, 0. B. Davis’•Drag Clemson College will begin her fourth year’s work Ang. 1. At that time applicants for the Fitting School and special stud ents who may not wish to take the regular courses,will be mat riculated. For catalogue, ad dress Pres’t E. B. CraicbbAd, Clemson-College, 8. O. Backtan'* Anwee Bahr*. The Beet Salve in the woHd for Cuts, Bruises, Soree. Ulcers, Salt Rheum, Fever Sores, Tetter, Chapped Hands Corns, and all Skin and positively cures Piles, erne pay required. It ia to give perfect . money refunded. Price 25 oeota K r box. For sale at Dr. J. •Jd'e Arrive .« ito.k mxBfe. "- v L*av*l fo-mXto. Arrive I NO.)