Historical Newspapers of South Carolina

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' THE UNION TIMES. trxiox, s. v. The inilnstrial boom of tho manufacturing sections of the New South has caused a commercial boom iu itH bcuport towns. Arouml Hampton Hoads important shipping intcrosts aro centered, and slow old Charleston ami Mobilo aro waking tip to their opportunities as trading ports. Statistics knvo just been published Bhowing that ,S53,7.r>0,000 is tho amount Rpent oil horse racing in Great Britain yearly. On huntiug $45,000,000 are spent; on shooting, ?28,750,000 nro expended, and tho cost of golf playiug is reckoned at $5,000,00% Tho grand total spout on various sports in Great Britain is $190,000,000 a year. Patagonia is nothing hut a big noman's-land, It is 1 Cmmiles long, and its area is over 300, square miles. Many tribes of the r tives are still independent, and can not be subjugated. Chile claims a portion of tho territory and Argentine wants the rest, but both oiairns do not amount to much, and the land is so barren aud inhospitable that no colonization schemes can be carried out. Tho whole number of volumes iu tho Chicago Public Library is 217,203. Tho aggregate circulation of books and periodicals for the year cudiDg June 1 was 2,512,211, of which more than half is registered at the delivery stations, thirty-ono being iu operation iu the north division of tho city, eleven in tho south division and eleven in the west division. The cost per volume at tho delivery stations has been only 2.31 cents. Tho thrco libraries next largest in respect of circulation are those of Manchester, Eug lanu; uostou, aiass., una isirunngmingham, England. Chicago exceeds the first more than two-fold and tho second and tho third three-fold. lihassn, the capital of Thibet, is ono of the cities which is not hospitable to tho traveler. In tho last twenty years six prominent explorers have tried to reach tho holy city, but without success. Miss Taylor, an English woman, was within sight o"! it and doubtless would have succeeded, as she *pol:o Thibetan well, had she not been betrayed by ono of her attendants. Tho latest attempt to pcnctrato tv Lihassa was made by St. George Littlcfield and bis wife. They reached n poiut within lifty miles of the city when their further progress w.is barred by a large military force. The Thibetans were polite, and the gen crai 01 me army spent .lays in discusriou with Mr. Iuttielield. No blood was shed, but much t a was drunk, lu the end tin- Englishman had to turn bach an.l make his way to India, r.aeousolod bv even a glimpse of tut promised city. Conipr.riog the bunking sy-tora in the L'nitcd Stales and Canada. L. (i. Mcl'hersou says in Appleton's I'optthii Science Mouthly: "Under the Canadian system the few banks, each with largo capital an 1 many branches, tind it to their interest to employ as managers men of character, foresight and ability, and tiiey are not allowed to participate in nuy way in the borrowing of money from their banks. It the United States each city has it: numerous banks, no one of them tiriuly connected in management with any cither bank. The ollicials often art mm of minds not of the broadest and judgment not of the most a -curate, who have attained their positions, perhaps, through u'ltience of one kiu.l or another, an i oinctimes they are in direct partner .hip with the men v. he have oil ere 1 paper to the bank l- r discount, the recommendation of action upon which eon.-i within th--ir pr.?v ince. Under the Canadian sy tei.i there are restrictions ., j?>n theamoiint which directors of a bank can itorroa, nud their beiw liability ior low . incurred by tlu ir b ub; lea is them tt exercise inucii caution i:i accept in.-, paper. In the United Suites many bank directors seek their positiu: ftiuiost exclusively bccauso of tin facilities they thereby obtain for lior rowing, an i by then accommodating each other the legitimato business o the bunk and the couinmnity is prom to suffer. 1'udor the Canadian systen there is an examiner for each large bank, who iuspects its operations frou time to time to ascertain not only tha its status is sound l'roin a bookkeep ing ami arithmetical standpoint, bu that it grants discounts on souu? principles, uud that the discountci paper held by it is good. In the I'ri ted States ther are National ban!; ". tuniner-, but their duties do not < : : brace a thorough and rigid tcruliny . ,lho KounUuciB of notes discouute.l." FORMALLY NOTIFIED. ???e Til K STANDAKI) ItKARKKS OF DKMOCIIACY ACCKI'r. ? Billy" Itryan Makon the Orandest SiH'i'ch of Ilia Life. It Was at Madison Square Burden, New York City. William J. Bryan ami Arthur Sewall, the Dowineej of the Democratio party for President uml Yieo President of tho United States, were formally notified of their nomination by the committco appointed for that pur pose, ut Madison Squaro Garden, Aew Yo?-k City, mi Wednesday Inst, nud they both accepted. Tho occasion was 0:10 to which tho entire country liail boon looking forward for many weeks and interest had risen to the boiling point through repeated promises and Liuts that tho speech the young Nobraiikau would deliver would exceed in eloquence, vigor and magnetism his great effort before the Chicago convention. Mr. Cry an himself had been partly responsible for the feverish feeling generated among the people. Only the other day, when a crowd of enthusiasts gathered ut a station along tho route of his journey from Lincoln to Now York, had importuned him for n few words he had answered: "Head the newspapers Thursday Morning and you will have something worth reading." Mr. llryan spoke as follows: 'Mr. Ch(tiriit'in, (ii nth iwn <>j" f/i>' i'lmnnUtri (tit'l / '< Itoir its: L shall, at a future day, nud iu a formal letter, accept tho nomination which is now tendered by tho notification committee, and I shall at that time touch upon tho issues presented by the platform. It is fitting, however, that at this time, iu the presence of those here assembled, that 1 speak at some length in regard to the campaign upon which we are now eutering. Wo do not uudercstimute the forces arrayed against us, nor are we unmindful of the im portaueo ot tuo utrugglc ?u which wt uro encaged; but, reiving fur succour upon the righteousness of our cause, wo shall defeud with all possible vigoi the positiou taken by our party. \\\ 1 ure not surprised that Home of our op pouents, in the absence of better ur i gumcnt, resort to abusive epithets, bnl [ they may rest assured that no language, however violent, no invectives, how ever bitter, will lead us to depart i single hairsbrcadth from the eourst marked out by the national convention, The citizen, either public or private who assails the character and ipn.-stioni the patriotism of tho delegates an Bumbled in the Chicago convention, assails the cliaraet -r end questions tin patriotism of the millions who have arrayed themselves under tuo bannei there raised. "It has been charged by men stand ing high 111 business and political ? :rcles that our platform is a ui.'uucc ti j?riva*e security and public safctv ; ami | it has been asserted that those whom ! have the hom>r. for the time being, tI ri pr< sent, not only medUate an at tad, j upon the rights of property, hut art the foes both of social order and na tioiial honor. Tho.ie who stam i upon the Chicago platform are pre pared to make known and to defeiu every motive which intlueuecs them | ? very purpose which animates them. : ami every hope wliicli inspires tlieni i Tiny understand tin: fjeuitia of out I institutions: they are staunch support . | ers .it tin* form of ^overumcnt undei ^ i which wo live, and they build theii j faith upon foundations laid hv theii fathers. Andrew laeksou lifts statei with admirable eleurness and with at emphasis whieh eunnot tie surpassed botit the duty and sphere of govern lneiit. Hi* said: *1 hstinctions in so | riety will always exist under every jus I government. Kipmlity of talents, o education or of wealth eautiot he j>ro [ | dueed by human institutions. In tin j full enjoyment of the gifts of heaven | and the fruits of superior industry I eeotioniv ami virtue are rmiu's oppor ' tunities. and titled to j ii:t?et:oh |o ' law." \\\ yield to none in our dovo t tioii to t!,. doctrine jit-t enunciated l >ur camp ii_;n has Hot for its object tin reconstruction of society. We can no 1 insure to the vicious the fruits ??i i \irtiious life. We would not mvad l ' the home of the provident in order t, supply the wants of the spendthrift we do not propose to transfer the re I wards of industry to the lap of itido I leiice. Property is and will reman ' tiie stimulus to eudea\or and the coin ; j pciiHation for toil. We believe, as as . ' sorted in the Declaration of liulcpcnd I enee, that a!! men are ereftted cpiil but that dors not menu that all in ! ' are or can lie espial in possessions, i: ability or merit; it simply menus thn r i all siiall st md eipial before the law and that government otlieials slnvll not in making, construing or cuforcin, I the law, discriminate between citi I ZellH. j "I assert that property right*, a j \v? li lis thi' rights ot persona, are saf I 1 m tie- hainls of the common people l Ahrahuiii Lincoln, in his message sen to <'ongress in December, lsi'.l, nai l ^ ; 'Mo men living are more worthy to b I ' trusted thnn those who toil up froi 1 poverty : none less inclined to take o to touch aught which they have no | i arncKtly earned.' I repeat his hit gunge with umpialilied approval an join with him in the warning which h added, namely: 'Let them beware < j hurrciidtring a political power wkicl they ulready possess, and which power, it surrendered, will l>o used to close the doors of advancement against such tl an ih -v. iitill to fix new disabilities ami p burdens upon them, till nil of liberty B( shall bo lost.' Those who daily follow cj the injunction, 'in tho sweat of thy ,1 face sli^lt thou cat broad,' are now, as tt they have been, tho bulwark of law and order?the source of our nation's tl greatness in time of peace, and its tj surest defenders in time of war. S "Hut I have only read a part of Jackson's utterances?let me give yon tl his conelusiou; 'Hut when the law &{ ??dertuke to add to lliusn nntni'il o* |] 1 i ? > rti Ii oiitl ,1 iut 1 tW?i 1* Atl J Jil?l uu>nuiu^ua ainuvuti mon n .??- | p to grant titles, gratuites ami exclusive ? privileges?to make tbo rich richer n ami the potent inoro powerful?tho j, humble members of society, tho farm- j, ers, mechauics auil the day laborers, 'j; ' who havo neither tho time nor tho ,,, I means of securing like favors for them- j 0 I selves, have a right to complain of tho p injustice of their government.' Those p who support the Chicago platform en- p dorse all the quotation from Jacksou v ? the latter part as well as the former p part, g "We are not surprised to Hud array- r j ed against us those who are tho bcueliciaries of gouorniuent favoritism?they 5 havo read our platform. Nor aro wo ^ surprised to learn that we must, in this a campaign, face the hostility of thoso li who find a pecuniary advantage in ad- v vocatiug the doctrine of uon-intcrfer- w encc when great aggregations of wealth s are trespassing upon the rights of in- n dividuuls. W'o welcome such opposi- s tion?it is tho highest endorsement v I which could bo bestowed upon us. We X are content to have tho co-operation of f j those who desire to have tho govern- u 1 mont administered without fear or fa- i] j voritism. It is not the wish of the gen| oral public that trusts should spring c . J - " s>* "While the money question over- i 11 shadows nil other questions in import anc*-, I U- ire it distinctly understood ! tleit 1 shall oil- r no apology for the in- J ' eoine tax plank in the Chicago plat- ' > form. 11 * * I lie liicoino tax i-? not new, nor is i 11 it based upon hostility to the rich, j I he system m employed in several of , the most important nations in Kuropc, ami every income tax law now upon j ^ the statute hooks ill any lain!, so far as ' 1 1 have bjcn ahle to ascertain, contains 1 an exemption clause*. While the cols lection of an income tax in < ther e countries docs not make it necessary for this nation to adopt the system, yet it i it ought to moderate the langungo of I: those who denounce the income tax as e an assault upon the well-to-do. a "Not only shall I refuse* to apologize ! r for the advocacy of the income tax 1 it j law hy the national convention, but I j 1- si.ail also refuse to apologize for the d c >n\ utioii, he.t I shall also refuse to j e 1 apologize for the exercise by it of the ! d | right to dissent from a decision of the- 1 h J Supremo court. j THE PAtiAMOLNT ISSUE?EI VANCE. ( V "Now let mo nek you to consider I ? 10 paramount question of tliin cam- I H uigu?tbe motley question. It is j 1 arcelv necessary to dcfeud tlio prin- ^ plo of bimetallism, no national party v nriiig tlio eutiro history of tho Uui- ' ul States has ever deelured against it, ml no party in this campaign haw hud ic temerity to oppose it. Three paries? the Democratic, l'opulist aud ilver parties ?have not only declared ?r bi-metallisiu, but have outlined j lie specific legislation necessary to rehire silver to its ancient position by 10 side of gold. The Republican lutform expressly declares thnt biletallism is desirable when it pledges no Republican party to aid in sccurig it as soon ns the assistance of cerliu foreign nations can bo obtained, 'hose who represented tho minority I'litimcnt in the Chicago convention pposed tho free coinage of silver by lie United States in independent acion on tho ground, in their judgment, bat it "would retard or entirely pre- | out tho establishment of international imetallism. to which theellorts of the overntucnt should be steadily diceted." "When they asserted that effort ! hotild bo steadily \hrceted tow aril tbo j stablishineut of international bi-mot- | llism, they condemned mono-nietal8iii, The gold staudard bus been rcighed in tbo balauco and found ranting. Take from it tbo powerful upport of the Jiuouey-owniug and tbo aouey-cbauging class aud it cannot tand for ouo day in any nutiou in tbo rorld, It was fastoued upon tbo Jnitcd States without discussion beoro tbo people, and its friends have icver yet beeu willing to rjsk a verlict before the voters upou the issue. "There cuu bo no sympathy or no i o-operatiou between tbo advocates of , ' i universal gold standard and tbo ad- i ocates of bimetallism, lietweeu hi- { aetallism ? whether independent or i I nternational?and the gold standard \ here is an impassable gulf. Is this i uudreunial agitation for bimetallism ! londucted in good faith, or do our op- I loneuts really desire to maintain tbo fold standard permanently? Aro bey willing to confess the superiority >f u double standard when joined in >y tbo leading nations of tbo world, or lo they still insist that gold is tbo only octal suitable for standard money mioug civilized uationt? If they are u fact desirous of securing bi-metal loiu v? \J uiaj t lucui iw i;v/iu v vf??? ho evils of a gold standard an 1 defend iii-inetullism as a system. If ou tlio )ther hand they are bendiug their ;uergios toward the permanent estabisliment of u gold standard under ;over of n declaration in favor of iuleruutional bi-metallism. lata justiied in sugcsting that honest money :aunot ho expected at the hands of those who deal dishonestly with the \merican people. What is the test of ' liouesty in motie\ ? It must plainly bo Found in the purcha iug power of the lollar. An absolutely honest dollar (vould not vary in it? general purchasing power. It would be absolutely dable when measured by average I prices. A doil.tr which increases in purchasing power is just us ili.-honest . its a dollar w hich decreases in purchas- | iug power. "it cannot bo successfully claimed that mono metallism or bi-mctalli.sm, nr any other system gives an absolute- j Iv just standard ot /at no. I'mb-r both i mono metallism and bi-iuetallisiu the , government lixes the weight and line- i nesa of the Collar, invests it with legal tender qualities, and then opous the j mints to its m restricted coinage, leaving the purchasing power of a dollar to be determined by the number of dollars. "i-tm talism is better than monometallism, not because it gives us a perfect dollar that is, a dollar absolutely unvarying in its general purchasing power but because it makes a nearer approach to stability, to h ?u- i csty, to justice, than the gol I standard ; possibly can. I'rior to ls~d, when j there were enough open mints to per- j niit all the gol 11 and silver available for j coinage to liud entrance into the j world's volume of standard money, the j l'r.it.,1 S-.fnli.il ! i i i r 11 f 1111 v 11 m.ii I, t ill Ucd U gold standard with less injury to the . people of this country, lmt now, when ! each ht j toward it universal gold stun durd enhances tin* purchasing pow-- 1 er of gold depresses prices ami transfers j tt the pockets of the creditor class an i unearned inereineiit the intluenee of ' this great nation must not he tin own upon the side ol gold unless ue ate prepared to accept the natural ami lc gitiiuftte < onsci|UeiiecM of such an net Any legislation wnieii lessi m< the world's ntncK of standard money increases tho exchangeable value of the dollar: therefore the erusade. i against silver must inevitaldy raise tlie ; purchasing power of money ami lower tli- money value ol all ottu r form of j property "Our opponents sometimes admit that it was a mistake to demote silver, hut insist that we should siih init to represent renditions rather than return to the hi metallic system. They err in supposing that we have reached i the end of tho evil resulhs of the gold , standard; we have not reached the end. The injury is a continuous one and no one can say how long the world is to sutler from the attempt to make gold ' the only standard money. The same j influences which are now operating to destroy silver in the t inted States will, if successful here he turned against I other silver-using countries, and each j now convert to the gold standard \uli I add to the general distress. So long ! lis tin? mtuinlili? lor f/ol'l oonliiiiH's, ' prices mi list lull, dim! ii jjimiithI full of prices is I>iil another Iclinitioti of 1 liiiril times. )iir opponents, \% 111!?? claiming en tiro disinter sti Ine^s lor themselves, ; have appealed to the selfishness of | Hourly every ot!i>-r class of soviety. Hoc- j O^M/.ltl^ till! lilsj OMltlOIl . .I., ill i|- I I into existence and override the weaker n j members of society; it is not tbo wish \ j of the general public that tho -e trusts t | should destroy competition and theu i collect such tux us they will from those J t who are lit their mercy; nor is it tho I r tnult of tho general public that tho iu- ' c 1 strumontalities ot irovcrumcut have j been so often prostituted to purposes g of private gain. Those who stand upon t the Chicugo platform believe that tho j c government should not only avoid I wroug-doiug, but that it should also 1 prevent wrong-doing; and they believe 1 tbat the law should l e enforced alike 1 1 against all enemies of the public weal. !' 1 They do not exeuBJ p? tit larceny, but j they deelare that graml larceny is ctpmlly a crime; they do not defend t the occupation of the highwayinau who j 1 robs the unotVendiug traveller, but they t include among the transgressors those t ! who, through the more polite and less j ; hu'/erdous menus of legi>I ition, appro- | ( | priate to their own use the proceeds of \ t i the toil of other-:. The commandment, i , | *Thou ehalt uot steal,' thundered from < ! Sinai, and reiterated iu the legislation \ i of all nations, is no respecter of per- i j 1 sons. It-must be applied to tho great ] . j us well as tho small; to the strong as j ! well as the weak; to the corporate per- , i i son created by law as well as to the per- , stin of tlesli and blool eroded by the j , 1 Almighty. No government is worthy , i ' of the name which is not able t ) pro I teet frota every arm uplifted for his j r \ injury the humblest citizen who lives , betieaih its Slag. It follows us a neces- : nary c.mclu.ion that vicious legislation } ;nu-l ho rt-nu'tlie 1 by the people who > i sutl't-r fr.?:n t'eo t iiVots of such legisla- , I tion and not by those who enjoy its [ beuotits. , I TiiM INCOME TA.v, i Tl?o ( 'lii.moA t.ltif fiirtn )iuu linon cmult innod 'u- hiiiiii' 5<ccuu.se it dissents from tin oj in.on rendered l<y tho Su- : jut me ('o.irt, declaring tin- income tn\ . law unconstitutional. i >tir critics even j I go ho fur ns to apply tin- utimo titiHrch- I ist to those who stand upon that plunk j of the platform. It must le remem- I j. 1>< red that we expro-ody recognize tho t landing force of that derision ho long j us it stumis us a part of the law of tho r | Intel. There is in the plat lurni no Rltggosti >n ot an attempt to dispute tlio ^ authority of the Supreme (hunt. Tho j i party is simply pledged to "use all tho | constitutional power which remains after that decision, or which tuny come ! from its reversal l?v the court as it j may hereaftei he construed." Is there ' inn disloyalty in that pledge? For a ' hundred yi urs tlio Supremo Court of the I lilted States has sustained tho principle which underlies the income tax. Some J" years ago this same court sustained, without a dissenting I voice, an income tax law almost ideu1 ticii! with the one recently overthrow it; has not a future court as much right to i return to th i judicial pio'clients of a . century as the present court had to depart from them? When courts allow ! r< hearings they admit that error is J possible. Tho late decision against ( tlio ineonio tax was rendered l?v a ma idual voters to consider tho effect ^ f any proposed legislation upon liim- ii eir, we present to the American poo- ^ ile the financial policy outliucd in tlio f hicago plutform, believing that it r rill result in the greatest good to t he greatest number. . THE itkason (if TIIK KAHMKItS. t The fanners are opposed to the gold stan- t ard beenusc tliey liuve felt its effects. Sin co I !i<-v sell at wholesale atul buy at retail, they i iuve lost inure than they have gained by full- i nit priees, and besides this they have lound t hat certain llxed eliarges ha? e not fallen at t II. Tax* s have lieen pereeptibly deerensed t Itbuiigh its reipiires more farm products < iow than formerly to secure ths inouey with ' rhicli to pay taxes, ueuia nave noi uuien. < 'he farmer who owoil ?1,000 is still coin pull- i .1 to pay ?1,000 although it may he twice as 1 liflieult as [ riaerly to obtain tlio dollars ' vitti which to pay the debt. Hail road rates < lave not been reduced to keep pace with I allium prices, and besides these items there < re many more. Th? farmer has thus found ' t more and more dilllcult to live. Has ho lot a just complai.it against the gold stau- 1 lard : 1 "The wage earners have been injured by lie gold standard, and have expressed them- i elves upon the subject with great emphasis, n February, lh'J.I. a petition asking for tho i ree and unlimited coinage of gold and ilver at the ratio of 10 to 1 was igned by tlio representatives of all, >r nearly all. of tho leading la <>r organisations and presented to \>tigress. Wage earners know that while lie gold standard raises the purchasing tower of the dollar it ids ? makes it more lilll' iilt to obtain possessiou of tlie iloliar; hey know that employment is le.-s per'Anient; loss of work ii ore probable, and ro'tuployment less certain. A gold standard neourages the hourtling of money, because nouey is rising; and it also dis ouragcs euterpise and pnrnlyges industrv. )rithc other hand the restoration of hi-metillism will ilist'ourage hoar?liug. because ,vhcn prices arc steady or rising money cann>t atTord to be idle in bank vaults. The farmers ami wage earners together eonsti;ute a considerable majority of the people of he country. Why should their interests >e ignored in considering financial legishiiionr A monetary system which is pecuniarily advantageous to a few syndicates ht\s far jess to commend it than a system which cvoul.l eive hotio aiid encouragement to those who create the no'i^^'.^voaltb. ' Our opponent^ llnvfl IhAd^ a special appeal to those who hold lire anil life insurance policies. but these policy-holders know that, since the total premiums received ow coed the total losses paid, a rising standard must be of more benellt to tho companies than to the policy holders. "Much solicitude has been expressed by our opponents for tho depositors in saving* banks. They constantly parndo before these depositors the advantages of a gold standard, but these appeals will Co in vain, because savings bank depositors know that under a gold standard there is increasing danger that they will lose their deposits because of the inability of the banks to ccllcet their assets: and they further know that if the gold standard is to continue iudellnitely, that they may bo compelled to withdraw their deposits in order to pay living expenses. "It is only necessary to note the increasing number of failures in order to know that a gold standard is ruiu>>us to the merchants and manufacturers. These business men do ; not make their profit from .the people from ' whom they borrow money, but from the peo- , pie to whom they sell their gous li the peo- j plo cannot buy, retailers cannot sell a:?d if , retailers cannot sell wholesale merchants and j manufacturers must go into bankruptcy. "Those who hold as a permanent invest- , ineut tho stock of railroads and other enterprises?I do not include those who speculate in stocks or those who use stock holdiugs as a means of obtaining n:i inside advantage in construetion eoutraet v-are injured l?y a gold standard. Tho rising dollar destroys tho earning powej of theso onterprises witliout reducing their liabilities, and, as dividends cannot he paid until salaries and tlxed charges have been .-litisli'-d, tlm stockholders mu.-'. i hear tic burden of hard times. Saiar<". .* in business oceupations depend j iipi .i easiness conditions, and tic gold, :dand.ard both lessens the amount ami threatens : the permanency of Mbdi ralariic. "Oliii'ial salaries, except the salaries <d i those who hold nlllee f< r life, n:u -l in the | long run lie adjusted to of those who puv the taxes, and ii the present financial policy eontinues we must expect the eonte-t between tii" tax-| lyr an the laxeater to continue in bitterness. "The professional elapses in the main-derivo their support Ir-cn tii" producing ela.?es, ami can only enjov pro.-p r.tv when j there is prosperity among tliose who produce , wealth. "I have not attempted to describe the [ effect of the gold standard upon all classes j - in fad I have only had time to mention a | few -i ut each person will lie aide to apply ttie principles stated to his owu occupation. I "it must also be remembered that it is tho desire of people generally to convert their earnings into real or personal property. This being due, m considering any temporary advantage which may come from a system under which tho dollar rises in purchasing power, it must not bo forgotten t hat tho dollar cannot huv more than formerly i unless propei ty sells for less than formerly, j Hence it will ho seen that a large portion of j those who may timl some pecuniary advnn- I tage in a gold standard, will discover that their losses exceed their gain.-. "It is sometimes asserted by our opponents that a bank belongs to the debtor class, hut this is not true of any solvent bank. Kvrry statement published by a solvent hank allows that the assets exceed the liabilities. That is to say that while tho bank loans a large amount of the money to its depositors, it not only lias enough on hand in money and notes t" pay its depositors, hut in addition thereto, ha- enough to cover it.- capital and surplus. When the dollar is rising in value -lowly a haul; may, by making short . time loans and taking good security, avoid | loss: hut wlb-n prices are falling rapidly the ] bank is apt to l,.-e more because of lent debts than it can gain by the increase in the purchase power < f its capital and surplus. It ' nui-t be admitted, however that some hank J ers combine the business of ii houd-brokcr 1 with the ordit.ar v hanging business and theso ! nmy makein the ?ti:tl? of loans ! to offset the losses arising legit- j i.'m;it b.-inkhi;,' business. A'i long us human :tJ4tiir>> remains as ir is, tlcrc will always be danger tli.'il, unlc.-s r>- traiin ?l by I>1 j: .( i.pin: n ?>r legal enactment, those \vli<> *< < ;? pecuniary profit for themselves in a ' rtaiii "Miiiiition may yienl to tie* teuiptulion t" I ring about tint "million. .b-ITcrson has stated tliat om* ol tin: main duties of tin* n<ivi riifii 'iit i?b> prevent men from injuring mm anotii'T. ami never was that ilaty more important than it is to-?h?y. It is not strange that those who have maile a prollt l?y furnishing gold to the government in the hour of its extremity, favor a financial policy wliieh will keep the government dependent upon them. I believe. however, that I speak the sentiment of the vast majority of the people of the Unilel States when I say that a wise linam-ial policy, administered in behalf of all the people, would make our govornnirut independent of any eomhination of financiers, foreign or domestic. Mr. itryan <|uoted Senutor Sherman, who warned against the danger of a contracted currency in lstl'.t. ami also from Mr. island, who i'l 1S7S. said: "I hclicvc the struggle now going on in this country ami other countries for a single gold standard, would, if successful, produce widespread disaster in and throughout tlie eoirunercial world." Mr. Cry-in continued: "It is asserted, as it Is constantly asserted, that the gold stan dard will enable us to borrow money from abroad. 1 reply that the restoration of hi inotnlism will r-ti>r<- I!? ? parity liriwrcu nioiifv ami |>r<>|.crty. ami thus i ."mil an <t:; <>f j?r- i*|??,rity, whi-h will naMr thn * 'in-rian || t . in .iiii- l-.aiii r> < f iiiom-y i ii^t'-a'l i f |>it; i !u il hi rro'viT.s. livn if \va disire It Lmt-vw, ! i ./ lui:-? an \v <'ontiaiio iorrowing under n Bystein, wlitch by lowcrng tho value of property, weakens tlio fouulatiou upon which eredit restsV" Mr. Itryan said his pi rlv was not asking or anything new, I ut merely insisting on a turn t<> the poliey of the gov Turnout from he llrst President down t?>l*7d. If there lire two kinds of money the opion must either rest with the debtor or with ho creditor. If the creditor has the right to hose the metal in which payment shall bo nude, it is resonnblo to suppose that he will equirethe debt or to pay iuthe dearest metal, f there is any perceptible difference beweeu the bullion values of the ue-tals. This lew demand created for the d-arei metal .vill make that metal dearer still while the leereused demand for the cheaper metal will nako that metal cheaper still. If. 011 the ither hand, the debtor exercises the option, it Is reasonable to suppose that ho will pay in the cheaper metal if one may bo perceptibly < he lper than the other, but detnund thus . rented for the cheaper metal will raise its price, while the lessened demand for the learer metal will lower its prl v," The option ought, therefore to lie with the debtor. Then followed the argument that tlio government shold pay its obligations not in coin of iho creditor's choosing, but Its own. "We contend that free and unlimited coinage by tlio Uuited States alone will raise tlio bullion valuo of silver to its coinage value, and thus make silver bullion worth $1,211 per nunco in gold throughout tlio world. '... ! - ?rci...niv mill rfiimntwl U m.-'U IIIV HUI ...... ..r to silver when wo fay that a new demand (or silver, created hy law, will rats - the price ot silver I u'lion." Ho had no fears of all the w >r! I'ssllver being dumped into the L'nit.* I States mint... Wo cannot even expect any of the animal product of silver, because India. China, Japan, Mexico and all other silver-using countries must satisfy their annual needs from the annual product. The arts will require a great deal. There is but one way to stop the increasing llow of gold from our shores, and that is to stop falling prices. The restoration of bi-metalllsm will not only stop falling prices but will?to some extent?restore prices by reducing the world's demand (or gold. Alter answering every eon 'civable argument against (rue silver, Mr. liryan appealed to New Yorkers to come under bis standard, and eiosed with a peroration 111 which he, referring to the heroic statue in the harbor nearby, begged that Liberty might ever bo allowed to enlighten the wori I. CONDITION OF CHOI*-. 1 he Drought Works Injury. Indications I'olnt to a Higher I*rlre for Cotton. 'Plio miAl l,. , , ... weather bureau at Washington. . tains '-bo following: Virginia?Continued hot, dry weather has lono some damage to Into eorn an I tobacco; it! plowing delayed; pnsturag holding on: :re.sbing about finished; hay mostly secured , dder pulling becoming guewai; soaking tins would be'of treat l?en> ;1*. in all > ,io|IS. North <!ar?dina -I'lten.-e lcc 1 drotighl causing continuous decline in condition < f all crops; cotton shedding, plants wilting, and larming very little top crop: tlr.-t new halo this wee!;, earliest ever known: Into eorn will tie a failure without rain son:;; strippingfodder now in progress: lobaee. i;r> s light and thin: peas, potatoes and peanut .-'.ill go >1. South Carolina - Crops ma'.* r,ally injur 1 by excessive heat; rain over limitcu areas only, generally dry: early corn safe, late drying i;| cotton turning yellow, shedding half grown bolls and siptares, and opening prematurely, picking active; ri *e excellent, beginning to ripen; tobacco curing nicely but quality inferior: minor crops ia fair condition j Tennessee?Drought with intense heat causes serious tailing in crops, especially in Western portion, where it a-samea disastrous features; cotton shedding fruit, opening abnormally. and drying up: w >r:;;s and firing'* injuring toimeco, ssitating early eutt;ng; early corn ll.ie. late greatiy shortened; much ino.'e s? ed clover saved; plowing pra? ticaily sitspended. tleorgla- Abnormally !;igh temperature, lack of rain :tt. I excess of siin-ltino have injured all growing crops; eotteu dr- pptng and turning yellow: | i king in progress; late corn, t on kw lauds, needs ruin, pasture- a:; I gar lens tailing ra. ally. hAf'ST MAYS. There wore loll deaths it: New \ork iu one tiny from heat. Two men who had served terms in California, were re arrested in Mexico while they were engaged in digging up. a bur which is worth I The United States Treasury gold reservo ut the close of business 1 riduy, stood lit Sbhl.Oi'.lt.lMb. The tlnya withdrawals were The St. dames Gazette i ublishes a special dispatch saying it is reported, that the Arctic explorer, Nunseu, has arrived at Yardo, an islundot Norway, ill tlie Arctic pectin ? " i mumr!; on board the stonmcr Windward. Acting ('oinptrolier Collin lias boon inform* d that dosiah 1'. Kclley, assistant cashier of tin1 First National bank of South ltend, Iml., had committed filicide because his defalcation of S-l,1)0 > had been di?covetol Tho Na tioual bank examiner report* that tho shortage was made pood from the surplus and that the bnsim sh of tho bank will in no way be n'.Vccted. A pamenper train on the l.akeShore railway was wrecked nearOtia, Ind., by the washing away of a culvert. The enpim er, .1 alio s (> i illin. and tho lireman Mi?leo l iloit'di, we.e silled, but the passc-ii ;ers almost minieniously escaped fata! injuries, I he train eonsistc 1 of t h; e i a i m.i r e niches and t wo | mail ears. An hour ami ten minutes \ before, ? lri'iijht train hai Mit'elv juifkI ml o.< r the point where tin- accident occurred. 'I lit' theory of the railroad ofVieinN is that a cloudburst washed > away tho culvert. ! . , 1 (IKKMANY'8 M AKINK I'KOtiKKSS.l i ! I Her Aim in to Take the Loud From Kngluml. ' O'Tinnny lia < been doing her best to ovor1 take Kngland, au<l tho (ii>rman merehnnt murine is continually eomiug nearer to tins Knitlisb l!eet in ofllejeney. Tie- total number of vessels tins I a considerably re.lueei',, because small shij s have given j.|aen to larger ones, but as regnrd?the increase In steamers' I.. ....I.. - 1.1 . ? -? - ' I ail I'm lit Kim , mi.-* III U' 'II KH'ttUT Tfiativi-lv in Germany tliar. in Knghunl. iiltlinu-.'lil tho total number of steamers iiusso.ssimI l?yl England still Is that of Germany byj about <'j>?ht times. Gorman steamers an*' oonsi'h rat iv lurtr< r than the Eim'lbh; for instuuea, while Gorman st- amors show nn average tonnage <?f kjo.7 that of Knirland is only 700.7. it follows that whilo Kntrlish hn vi- iin roiisod in numbers by f>4.1 pnroentin thirteen years, their touting* has only about! doubled. whi-rons in (o-rrnaiiy whilo tho num-J l.or of stoaiaors was somewhat inoro tlnui. doubled tho toiiuau'o was almost ipiadruplnd.i At tho bo^inruuK of jsal G> rman steamers] ! |ii>ss<-*.scil an avoratfo onpueity ol 521.2 ro^is-l I toro.l tons, i his-hows plainly the strout de-. ! volopiucut of German stvuiusliiii hues. I