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IS*** » Athena Banner, Bat. 1832.
iin - *** <K '
ATHENS. GA., TUESDAY MORNING. SEPTEMBER 8, 1891.-8 PAGES.
Became It prints
All the local Newt of Athens,
All the Georgia Newt and Happenings.
All the Important Events In the Worto.
VOL. 59 NO. 36
The Financial Situation
Discussed
An Address to Alliancemen
and Democrats All.
Wh 3 t Fr-e Coina ge Means and
What It May Do.
[1 NATIONAL BANK METHOD
More Money and Better
Money Needed by
the People.
s plea for reasonable and
OPEN DISCUSSION.
an Eminent Georgian Has to
Say on the Subject.
tur-iu i»\SNKU.—Wo have fallen up
on >uib.'inf" nli.i'iml throughout the laud*
ita* is aulistitiiU'il for argument, while
jj.ijng in J accusation have usurped tan
InucaoasDl c tnu discussion. Verily, i.
iin«ms that “Judgment is fled to bru
lisbtieast*|i!i'l men have lost lUeir reason. 1 '
X i many uiondis ago the rays of a rising
tiaol porinus prosperity were gilding
[the tree tups ami there were raauy who
mfldendy expected an era of marvelous
(Higioss tn w a Ken into song and success
iitiyiiioi'| iiig interest and industry ol
T ie capital of Europe had
beta fiuiiig into golden rivers lu South
lumen. Tne spirit of speculation han
rtnmen mud and wnen the collapse came
| * Inc tail and winter of iasi year the
1»» sustained in South America wer
Miniated by well informed financial joui-
uistolmve am anted to the enormous
k.n'f four hundred and uintty three mil-
|ban dollars. This great loss came neai
ig die Barings and shook tb»
linSu! Kngiand as tlmt institution had
in turn slink n in one hundred ami sixty
furs Tne r< suit was a Complete with-
fdw.lot nil confidence in investments
Bilalipiarter of the globe. Many mil-
isiis n| money had gone into the-Western
to, m the constructions of railroads
teJ loans on farms. So latge had beei
ton* Wns that one state is said to bav.
wc inurtaged to within eight million dol-
Ursol the value of all the lunds in that
ltl.tr.
'liny of the other Western States hau
1-uovi-j hundreds of millions in Ibc
lain: «ay and secured the lenders by
jgaing morigages on their farms. Pay day
Iu "I’Proaching and with many a pool
jlcairr had arrived before the first day ol
J*present year, tlow to raise the money
th which to liquidate these maturing
upturns was tne distressing question
^ the extremity whs born the demand
lor in .re money.
LKansas farmer who owed ten tbou-
1 'L’llars secured by a mortgage on his
10 w< ndd not bring more thaD
•mount ot money, was ready to accept
,l jojous avidity any scheme which
-u.ulead to the inflation of the currency
•mn* with an ‘"Dated currency the mar-
alueo! . i. mor gaged farm might got
‘*1"'^ thousand dollars while his debt
lull k"! n“ " tten ’ 111 ‘"sand. Any party
d*m,ii U i1 P ron, he him this sort of re-
iDixiii r T Ce,Ve 1)18 instant and hearty
Deb , ""'fcover the payment of bis
d«\ of u"uturHly be resisted until the
"Jtiiiv r!i ?| t ' ,vtranc,! should come. The
an,,;., wide spread resistence to,the
'si vm ' ! u se ,IU 111 mortgages for the
ihof , , r * wn ’ Wl "ch resistence is in]full
in u,u p u,jiic mind ,o
odatr,.,!,." ,l( \ re - 1 d" not write this
“fciUuPv'f ? b , U8e the P°° r fellow
^od hi,, R ' ler aDd P^lect who
:i| i'iuci , "djo’essiy i„ debt. Hii
mturf® hlU /' 1 ar,d e,m Ply bis hu
^‘on bv 8 hiR f ° rCejl t0 a «K reasive
rn.il ,. y lns envnonmenl.
k 1u ‘- r '°“ds again hut my pur-
i‘here is *, show
" C W s 01 the W est were being r»p-
lt J e «Spdt a r KainSt llle comi °8 in ot
•iVtZ k v 0wn " f ?” men that the
* tome n NL ; W , E "« l ’* ud 8 tates have
ung ti, eir P m gradually aban-
" v ot Ln r "' 8 !V c " U8e of tbe impos
in'. Wnm S “ living by their culli-
Ppmit ,lie immeasurable
' c ,° al aud limestone in close
paid.; 'Ml < ? lllor 1,1 the South and
f 1 * brighten. <t ', elo P rae P t had amazed
**lines in ,,n lue Capital invested in
and older portions of
r'"P*' coin min r *J ortb and eapital from
lor n„. , nc " (1 to pour into the
and o„r ,. lopmen ' of °ur mineral
VlS 'uitiinr [ H,ls l ,or| atiou interests
kN nn mgto ». , that I. he wor,d —-
^Aistsnce that the shorter
factorv * lbu eottou field to
l? ttl ‘ttureof e«,f eHler ,he Profit in
L> nisnv ln C °"°“ Roods.
Lq ^' it ‘oii,g W ,' , ‘'! b .® “f° these facts,
inves or, k r U d ** P . aiid 8tron R
thefmn ,,f capital. Added U.
from i “^« r f »cts that the South
mounts of t,"j ‘i'atnrbances, that here
mUtD our * wtre reduced to a
1 "quirinLi?? . a , nd °"r laboring
j! tinier nmlo. fne ttnd lea * clothing
( ,u'**n ibe D> i>M ,h8 '. AI1 fhene things
J’i'oilie w£ teuUo “ of the whole
m^PtooiUiiie^ brightest and
^ 4| capital ^!i?.h d ,f or ***0 lnvt *t
** >n allUm lines of industrial
and commercial development, But for a
year we have made no progress.
The cry of hard times goes up from the
ircbant tbe farmer the manufaciur sand
lue lnboiera. The state is in a state of uni
versal an 11 might say distressin unrest.
Plans for relief plana without number have
suggesed and yet the hard times con'ioue.
There is just as much money in the coun
try as there ever was, practically at least,
the amount ot money now iu the United
States being about twenty-three ..olltus
per capita. Three measures of relief are
proposed and these I wish to briefly dis
cuss. 1 have in doing so, no abuse to heap
upon the Alliance or its leaders.
The first of these is the free and u limi
ted coinage of silver. In my humble judg
ment the popularity of this demand .s the
great-overshadowing cause of tl a present
financial paralysis which is embractn > the
w hole commerce of America. Let me say
just here that the rights of capital au.l the
righto of the masses are entitled to equal
respect and no man ia either statesman or
ratriot who refuses to recognize either,
n solving the problem of a great nation
neither can be ignored. But let us see it
" am right in my diagnosis.
Those who oppose the free and unlimit
ed coinage of silvi r assert that the bul
lion value of tbe present silver dollar is
from eighty to eighty two cents. That is
say if a silver dollar were melted and
fotmed into a bar it would not sell as sil
ver for more than eighty cents. They fur
ther assert that if this country resolve
upon the free and unlimited coinage of
silver, the effect will be that such a large
volume of silver will be thrown upon the
country that it will take its place as a cir
culating medium on the basis of its intrin-
ic value. In other words a silver dollar
ill not be worh over eigbty eents as
compared with gold and if by tbe fiat ol
the government it is worth as a legal ten
der for all debts one hundred and twen-
■y five cents in silver. I am not staling
the case to argue it, 1 only state it and I
have tried to do so fairly, for the purpose
of showing what effect such a belief ns 1
have expressed would have upon one who
was a Capitalist large or small. If any
man entertaining tbe belief that tbe free
and unlimited coinage of silver will re
sult in its depreciation, had money due
him, would it not be natural for him fo
to Call nis money in before a law of this
chniacur could be passed and put into
pe ration.
“I A has a debt due him of a thousand
dollars and he can collect bis money uow,
he can with bis thousand dollars buy & like
■mount of gold. But suppose he yvaits
until tbe free and unlimited coinage of
silver is an accomplished fact, and as a
result it is depreciated in value, in that
event silver being a legal tender, his deb-
lor can pny a thousand dollars in diver
aud this silver would be worth to him only
ight hundred dollars in gold.
No matter whether it is a fact that sil
ver will lie depicciated or not, is not thai
'Dan as a prud-nt business man goii. >• to
collect his Jebls while his money will be
worth the same amount in gold lather than
wait and take the chance or being paid
n something else which will not be worth
>ver eight hundred dollars in gold, it is
immaterial to the creditor whether su -h is
oiug to be the result or not, if he fears it
he will want his money now. If I aiL. cor
rect in my conclusions there are dark days
ahead for the debtor class. Suppose tbe
debtor wants to borrow mimey on odo or
two years time in order to meet bis pre
sent obligations. He cannot borrow ‘rom
any conservative capitalist or banker in
the South or elsewhere without good se
curity and a promise to repay in gold
Suppose he borrows promising to r pay
in gold, and silver becomes aepreciat< d to
the extent alleged. Then to pay a gold
lebt of one thousand dollars be must pay
silver twelve hundred and fifty do'iars.
do not say that silver will bic <me de
preciated and take its place as a circulat
ing medium upon tbe basis of its intimsic
or bullion value. What 1 do say is that
the fear of such a result accounts fully foi
the present stringency in money m, Her.
In my judgment times will grow harder
aud h&rded as we approach tbe day o free
and unlimited coinage and a con m cial
equilibrium so essential to a ct ur try’s
mosperity will not be restored until t e re
sults ot the sudden free and until iite<>
coinage of silver are perfectly and i.bso-
lutely known. •
This is a fact and the use of offensive
epithets or abuse of gold bugs cannot
change it. It is not necessary to repeat but
I do repeat two facts I haVe already tried
to make plain: The first is this.
Every prudent business man who has
money due him will try to collect his mon
ey now wbile every thing is od a gold ba
sis rather than wail and take dliances ol
being paid in silver wbich by tbe fiat of
the government is worth one hundred
cents on the dollar, but which by the fiat
of commerce wdl be worth only eighty
cents on the dollar.
Second, hard times will continue and
grow harder until tbe spectre of the fret
and unlimited coinage of silver is robbed
of its terrors or uutil its consequences be
come known by actual results. If silver
does not become depreciated as a circu
lating medium as i- now feared, then all
will be well. If it does become debased,
then commerce will adjust itself to exisi
log conditions and wilt resume under those
conditions the discharge of its functions as
the machinery for the exchange of tbe pro
ducts of farm and factory and work-shop.
But tbe question I wish to ask is this
How is the country to live through the
terrible suspense wbich is even now para
lyzing every industry in America? We
are upon the verge of disaster and unless
a practical modus vivendi is proposed we
will very soon have the storm, the fearful
storm of a financial panic breaking over
our heads.
Two things can be done to avert this
storm. One of them an imperative neces
sity. Tbe Government of the United
States now coins each month four and one
half million ounces ot silver. I would
adopt a compromise policy between this
and the fiee and unlimited coinoge of this
metal. Let Congress adopt an ascending
scale of coinage, say commencing with tbe
prese t rate ana increasing it by five, ten
fifteen or twenty million ounces pur month.
This po'tcy would enable this money to
find iu way into ciiculatios gradually and
without any shock, and it would lead up
to the free and unlimited coinage. If lb»
policy ia adopted, capital will be reassured
and at once the conditions of trade would
be restored to their equilibrium. It would
eventuate in free and unlimited coinage, if
the free and unlimited coinage did nut re
sult in depreciation. If It should be seen
that depreciation would result and this
could be absolutely determined by the
gradual resulU of the giadmit increase in
coinage, then congress aided by the busi
ness judgement of the country could act
in time and individuals could act in time
to Avert any public or private ca ' H 1 in . ^v.
It is my deliberate judgment that if the
free and unlimited coinage of s'^r ' 8
changed into a demand for the free imd
wisely regulated inen asing coi “ | b je ’
business distress of tbe 00““^
once hbated, confidence will be
and money will begin to move in whole
some freedom. But l do not bdievetba
tbe increase in volume of oj ,r oirc °' a V“^
medium to be thus obtained will
all tbe demands of the pr«sem condtOu^
Of American commerce and agriculture.
I think the country needs a larger volume
of currency bat not an increased volume
of unstable currency. How that is to be
obtained without disaster is the solemn
problem which invites to its solution and
consideration the ripest wisdom ol
American statesmanship. Gold and silvei
are the beat money in the world because
they do not depend for their value upon
public or private confidence. Their valu<
is intrinsic. A dollar in gold is worth one
hundred cents and a dollar in silver worth
one hundred cents and interchangeable
the one for the other would constitute an
ideal and perfect circulating medium.
Bat no one country can monopolize the
use of these metals aud there is not enough
of either or both to go round Therefore
this and ali other countries are forced to
adopt the next best thing and that is the
credit and honor ot human government to
supply the place of the shortage in precious
metals. In this country United States
bonds and United Slates treasury notes
and National bank notes secured by Unit-
ou Stales bonds, although having no in
trinsic value, are tbe next best evidences of
value to gold and silver properly correlat
ed as to coinage.'
But all tbe gold in circulation, and
the silver that would come into circulation
under the graduated and ascending scale
ot coinage herein suggested and all tbe
United States treasury notes and all the
National bank notes do not when added
together make up volume of currency suf
ficient to meet all the demand of our con
stantly expanding agriculture and com
merce.
What shall be done to increase this vol
ume without doing violence to all values,
and all material interests of tbe land. The
Alliance replies to this question give us
the free and unlimited coinage of silver
and give ns the sub-treasury bill or some
thing better and abolish the national banks.
1 have already discussed the silver
question. Tne sub-treasury bill perfectly,
1 do not propose to discuss, but as to the
national banks I wish to submit some re
marks for consideration of thoughtful and
conservative men and in this category I do
not embrace office seekers in or out of the
Allinoce, for my observation is.that those
who live by office bolding as a rule are
more solicitous of votes than they are ol
tue public welfare.
In regard to national banks, and our na
tional bank system 1 wish to state a few
tacts, easy enougu of ascertainment but
which I nave not seen given in any speech
or communication or editoiial in the many
thousands wnich have gone to make up
the financial literature of the past months.
It is a common belief that the government
uf tbe United Stales lends money to tbe
national hanks at one per cent per annum
and that these banks lend the money to the
people at eight per cent and that the land
owner ts'shut out because he canuot bor-
iow on real estate. If ibis was really true
why should there not be aud as a matter ol
tact would there not be a hundred nation
al banks where we have one. Under out
national bank law no bank can he charter
ed without first depositing with the gov-
truuieoi United Slates bonds to secure cir
culation; that is the national bank notes to
he issued by that hank. It is not compul
sory upon tue banks to issue any notes
whatever unless it so desires und if it
chooses tq issue bank notes it can only is
sue these to an amount equal to ninety per
cent of the face ot United Slates bonds
deposited.
Now suppose a bank with one hundred
thousand dollars capital is to be organized
can deposit no more than one liuud-
dred thousand doliarse in United States
(Kinds nor less than 25,000 lo secure its
circulation, me natioual bank notes il may
issue and it is authorized to deposit auy
amount helweeu these two. it can issue
uiuely per centot its bond deposit in na
tional hank cotes or it can refuse to issue
uy at all. it it issues its own notes se
cured by the government bonds deposited
under me the law, it has to pay ithe gov
ernment a tax ol one per cent per annum
ou whatever amount it may see proper to
issue. For instance if it issues its full lim-
of ninety thousand dollars it is required
place five per ceul of these notes
amounting to $4,500 on deposit with the
government and in addition to pay a tax ot
one per cent per annum on the ninety
thousand. Here we find the foundation for
tbe statement that the goverment lands
money to the national banks at one per
cent and that they in turn lend this money
at eig bt per cent and even then are not al
lowed lo lend it ou real estate. It all this
is true then the natioual bankB have had
special privileges far beyond deserts. Now
it will be of profit to see to what extent
they have availed themselves of these spe
cial privileges. I have before me the re
port of the comptroller of the currency for
1890 vol. 2
From this I find that at the close of busi
ness on Thuisday Oct. 2ne 1890 the Arnei-
ican Exchange National Bank ol New York
had a paid up capital of five million. With
mis capital it could have by depositing an
equal amount in bonds entitled itself to is
sue in its own notes four and a half million
dollars on w hich it would bave.paid a tax
of one per cent per annum and at the same
time it would have drawn interest on its
wnole bond deposit. But strange to relate
that bauk on that day only bad outstand
ing its own national bank notes lo the
amount ot forty five thousand dollars. Ac
cording to those who now so freely offer to
educate the people, this bank actually re
fused lo borrow from the government
foui and a half million dollars at one per
cent per annum and satisfied itsselt by bor
rowing forty five thousand dollars.
Can thinking people reconcile these
facts taken from tbe recoid which is opeu
to all the world with statements which
have been repeatad many hundreds of
times in certain portions ot tbe press, and
from the stump? Bui let ns press the in
quiry • little farther on this line. For
/brevity I would group a few New York
City and Georgia banks.
Capitox. Notes Corr.n
Issued Have
Issued
Continental National 91,000,000 $3J.»fO 9 JW.000
Mechanics “ £££&£ n ” e i’SS'ES
Merchants M 2,000*000 1*WQ,000
Western National 2»,9lo sJl50,’ooo
FoSrtT £*00,000 *0,000 S,*»,000
Georgia
Atlanta National 150,000 45,000 138,000
fialJfcttV 280,000 45,000 225,000
National Auuusta 600,000 454XM 450A*
Merchants I&tijav. tk&iO *£xtoo
1st. Kattkmal Macon 100,000 22,5u0 00**00
These figures establish one ot two
things irrefutably and beyond icontroversy
and the first Is that it is not true that the
government does lend money to the na
tioual banks at one per cent per
annum, or that tbe poorest business men
iu America have all gone in the national
banking business. Here are seven national
banks In the city of New lork whose ag
gregate capital amounting to the large
amount of $14,700,000, wtiichbonda under
the law could issue $18,230,000 in national
bank notes; and yet they had out standing
in Oct. 1890 ooly $107,850.
In this list are five national banksin
Georgia whose combined capital is $1,500,
000 upon which by disposing bonds they
could have issued 1.350,000 and yet they
retased to do this and only issued $199,
260. I
These are facts, and sober people
they read them must conclude that there
is some mist ake about these banks borrow
lng money at one per cent. All such state
ments are false and mi-leading tue people
to their injury and to the shame and dis
credit of their offlee-s-eking instructors.
Tbe national banks find it impossible to
avail tjieraselves.or tbe priviligeof issuing,
national bank n->tes. Let ns make a dim-
pi • calculation and see if this ia not true.
S ..ypose one hundred ailiancemen put in
one thousand dollars each for the purpose
of forming a national bank. To do this
they roust first deposit with tbe govern
ment $25,000 in UoiUd States bonds. A»
this present market price these bonds will
cost them $118 on the dollar ou 20 500.
If they issue no bank notes they will have
$70,500 cash capital. Suppose they lend
this cat at eight percent j per annum.
This would bring them $o,640 s year.
Now add to this the interest at four per
cent per annum, on their $25,000 in bonds
which would be $1,000. This would give
them agrees income of $6640or less than
seven per annum. Now suppose they
should wish to issue their own nation • I
bank which they could do np to ninety per
cent of the face value of the $25,000 in
bonds deposited. T.>is would entitle them
to issue $22,500 in national bank currency
or notes. But five percent of these notes,
which would be $1125 they would have
to leave on.deposit with the government
as a redemption fuDd. This would give
them of their own notes $21376 which they
could lend, but ihey wi iilo have to pay
the government a tax of one per u nt per
annum on their tolal issue of $22,500 which
tax wonld be $225 Tbe $70,500 as we
have seen wonld bring them $5640 inter
est on $25,000 in bonds would bring them
$1,000, and internet at eight per cent per
annum on tbe $21 375 of natural bank
notes they could .=sue would bring them
$8,350. New deduct from this the tax of
$226 on circulation and their gross income
would be $8,125.or t ight per cent on the
whole capital invested, but of this would
have to be paid salaries, rents uud taxes.
Certainly it would not seem from this
showing that national banks were favpred
institutions. But suppose these one hun
dred alliancemen should wish tn issue the
fine ninty per cent of national bank notes.
They would have to deposit with the gov
ernment $100,000 in United 8'ates bonds.
These would cost lh* m $118,000. They
could then issue $90,000 in national
bank notes less five per cent. $4 500 n •
demption fund, leaving $85,500 cash capi
tal in their own national bank notes upon
which to transact a banking business. Tots
at eight per cent, would bring them $6,840,
wbile the interest of their bonds would
bring them $4,000. This would bring them
a good income of $10,840 from which
should be deducted the tax of one percent,
of their circulation which be $900. Tuis
would amount to 9.94 per cent. »u $10,000,
but you must remember that their bonds
cost them $118,000 and that their actual
investment amounted to just $118,000.
The gross interest they would uctive
would therefore amount to 8 42 per cent,
per annum. Out of this would have to be
salaries, rents and taxes, and other expen
ses of the business, such as the tees of bank
examiners appointed by the Government,
lights, stationery and so on.
If these one hundred meu should put
the same amount $118 000 iu a private
banking business or organize as a state
bank, they would make equally as much
if not more clear money on their invest
ment, because they could lend on real es
tate and do many other things not permit
ted to National banks. These institut ons,
it will be seen, are not so greatly favored
as some reformers would have us believe.
The truth is, one of the disturbing factors
in the present situation is found in areal
reduction which has been made in recent
years in our National bank circulation As
Iliave already shown, many of these banks
have no outstanding nous. Ou March 1st,
1890, there weru-vn Ntw York r 4ity forty-
five National banks doing business ou a
combined capital of $48,850,000. These
banks could have had iu cneulation their
own notes amounting to $44,000,000, but
as a matter of fac, they <>uly bad iu cir
culation $3,505,000. Tue National banks
in tbe five years ending Oct. 31st, 1890, in
creased 839 in number, and yet during tbe
same period tbe National bauk circulation
decreased $151,345,453, or at tbe rate of
$80,269/ 90 per annum.
What a marvelous incomprehensible
fact this is, if it is true, that ibe govern
ment advances or lends them money at one
per cent, per annum.
In Georgia, on October 31st, 1890, there
were twenty-nine National hanks having a
combined capital. <>f $3,776,000 upon
which they could have issued $3,398,400 in
National bank notes. Thqyj banks had
outstanding that day only $827,520 of
such notes.
How passing strange are all these facts,
in the light of all the education on finances
which is now being so freely and so ur
gently offered to and pressed upon the peo
ple.
Instead of keeping np a war upon Na
tional banks which has nothing to feed
upon except prejuaice aud ignorance,
would suggest as “something belter” than
the snb-treasury bill that these banks be
perpetuated and ibe law under which they
exist and operate amended and changed
in the foilowing respects:
First, I would have the law so changed
as that these banks conld lend money ou
real estate.
Second, I would require all National
banks to issue National bank notes up to
the full amount of their capital stock se
cured, of coarse, by a deposit of United
States bonds, the details of such require
ments should be just to tbe banks.
The National bank notes now oulstand
ing making part of the circulating medi
um of the country amounts in round num
bers to about $125,000,000.
If an amount or bonds equal to tbe to
tal capital were deposited to secure circu
lation, the whole body of banks now in
operation might have a circulation of
$585,000,000. If national bank notes were
issued to ibis amount oar circulating me
dium would be increased $460,000,000 or
about eight dollars per capita.
United {Rates bonds represent the highest
and most solemn debt of the nation, and
this debt is now about $700,000 000.
As this debt counot be paid wby is it
not the part of wisdom to make it tbe ba
sis of an increase in onr circulating medi
um instead of using tbe impel shabie pro
ducts of tbe farm for sucb a propose
Next to silver and gold property correla
ted as to weight and firmness what
money could be safer than that resting
for its value upon the honor at d good
faith of tbe greatest nation on earth
There is not s man in this com try but
who would prefer a dollar secured by a gov
ernment bond, to one secured by a dollat
and a quarters worth of any imperishable
farm product.
If our people will demand the things
herein suggested and will insist upon their
demands for tariff reform by an honest
and economical a^ministration ol tbe gov
ernment, and wdl disregard the ravings of
those lightning-bug statesmen whose ex
istence is only revealed and the financial
darkness of the hour, tbe business equili
brium of the country will be restored,
trade will revive, capital will come lorth
from ita hiding place and confidence, the
chief capital of all commerce, will warm
ioto life, the drooping industries of our
land, now drawing dangerously near to dis
aster. e
"Be who sav.g bis country, saves all
things, and all things saved do bless him.
He who lets his country die, dies himself
ignobly, lets all things die, and all th iogs
dying curse him.
We need open discussions of tbe troth by
tbe best brain, broadest statesmanship ana
pouudest patriotism of the age. When the
honest citizen is depressed and disturbed,
the indolent will stretch forth the hand of
mendicancy asking at the bauds of govern
raent bread which he has not earned and
tbe imp.-ster'in state craft stalks abroad and
in a voice that would startle Balaam dis
cusses national relief with a fippancy only
equalled by his ignorance.
S. G. McLendon
The Protracted Meeting Will Con
tinue During the Week.
The services at Oconee Street church
for the few nights past have been in
teresting and profitable. The congre
gations are not as large as they should
be, but those present have enjoyed them
much. The Pastor, Rev. J. S. Bryan,
has presented topics to his members,
pointing to a higher type of piety and
& more earnest zeal for tbe salvation of
the unconverted. A baptism of the
Holy Spirit is the great need of the
church, and there seems to be a united
prayer on the part of those attending
the meetings, that this blessing may be
granted.
During the week, services will be
held at 9 a. m. and at 7% p. m. All
the Pastors and Christians in the city
are earnestly invited to attend and co
operate in the work. Already there Th are Me88r8 R K R f jj
bavebeen indications of revival power, T _ w ’ „
and we believe Athens will have a
gracious revival of religion if the
Christians of tbe city will engage in the
great work. Therefore let all who can
do so come out to these meetings, with
the expectation of being benefited.
THE DEMOCRATIC LEAGUE
OCONEE STREET CHURCH.
IT MEANS BUSINESS-
THE ORGANIZATION OP THE
ATHENS HOTEL COMPANY.
SOLID BUSINESS MEN
Determined to Relieve Athens of Her
Difficulty and Build a Hotel—It
Will be Built During the
Fall or Winter.
It is a go this time.
And there is no doubt about it
A great deal has been said and writ
ten concerning new boteia for Athens
that has never amounted to more than
the breath used iu speaking or the effort
in pushing the pencil over the paper.
But when such an array of Athens men
evei set their headB on erecting a hotel
as are those who will compose the Ath
ens Hotel Company, it will be erected.
THE IN CORPORATORS.
The petition for a charter will be ad
vertised in Tuesday’s Banner and is
drawn by Judge Alex. S. Erwin. The
comp my desires to be given all the
usual rights of such a company and to
place its capital stock at one huudred
thousand dollars with the privilege of
increasing it to two hundred and fifty
thousand.
Tbe incorporators are the best
business men of Athens.
Will Meet Next Friday Night at the
Council Chamber.
The Young Men’s Democratic League
will meet Friday night at eight o’clock
at the Council Chamber.
So says President Hughes, who has
returned home.
The first business will be to amend its
constitution in many respects. There
is a universal feeling that all demoorats
over forty years of age should be made
honorary members, and this course will
probably be adopted.
Some steps will be taken by the
League urging the organization of sim.
ilar clubs in every county in tbe eighth
congressional district and then the
merging of all these into one grand con
gressional district democratic organi
zation.
This idea is taking well.
The League is going to be made ja
great success and its meeting next Fri
day night will be largely attended.
WORK WILL BE BEGUN
Next Week on the new School Build
ings.
Mr. D. M. Kenney returned from his
trip to Clarksville yesterday.
While there he closed a contract for
the lumber with which to build the two
new negro school houses in Athens.
He says that in all probability the
dirt will be broken for th* foundations
of the new buildings next week and
thata3 soon as be can put them up sat
isfactorily, they will be ready for occu
pancy.!
ROUTINE* WORK ONLY.
The Geo rgla Legislators Take Thlng9
Easy on Saturdays.
Atlanta, Ga., Sept. 5.—[Special.—
To day’s sessson was devoted to
routine work. Nothing at all was done
but to read bills a second time.
Unanimous consent was given for
the introduction of a bill, wbich was
sent in by Mr 1 . Phillips, of Habersbam.
It was a bill to appropriate the $10,000
received from the sale of the State’s
reserve lands just below Macon, to tbe
indigent Confederate soldiers who do
not now come under tbe pension laws
of the State. This money is now in the
treasury, and was originally appro
priated for tbe purpose of maintaining
the Georgia State Orphans’ Home,
which institution has been discon
tinued.
A abort local bill providing for the
incorporation of the Irish-American
Dime Savings Bank,, in Augusta, by
Mr. Calvin, of Richmond, was passed.
At half past twelve the speaker
ordered a call of the roll, and there
being no quorum present the House
adjourned.
HE WILL NOT FACE WATSON.
Livingston Gives His Reasons for De
dining the Request.
Atlanta, Ga., Sept. 5.—[Special]—
Livingston tonight says he will not
meet Watson for three reasons; first, he
has too many engagements; second, and
especially, because there is no material
difference between him and Watson on
the railroad question and discussion
would be 'fruitless; and third, that
while the gentlemen who make the re
quest for discussion are doubtless hon
.-t and sincere, tbe real power back of
ii all is the power that is trying to split
the Alliance by arraying Alliance
leaders agaiust each other.
Rucker, R. L. Bloomfield, W. A. Mc
Dowell, I. G. Swift, J. M. Orr, Myer
Stern, J. J. C. McMahan, W. W. Thom
as, E S. Lyndon, Wm. Fleming, C. G.
Taimadge, C. D. Fianigen, Moses My
ers, A. L. Hull, A. E Grifleth, W. B.
Burnett, James White, J. A. IIuuni
on tt, W. S. Holman, W, J. Morton, J.
M. Smith, of Oglethorpe, Billups Phin-
izy, A. H Hodgson, H. C. White, W.
D. Griffith, Guy C. Hamilton, Reuben
Nickerson, C. A. Suudder, and Thomas
Bailey.
With such men as these at the head
of this company, the stock
will all be taken in no time.
It is understood that the plans will
be drawn at an early date and that work
on tbe new hotel will commence in the
fall or winter.
One thing is certain, and that is,
Athens is going to have a new hotel.
Fall of tlie Louisiana Lottery.
Washington, Sept. 0.—John S. May
nard, the postoflico inspector in charge
of the New Orleans district, has re
turned to Washington from New Or
leans, where he has completed the work
in some twenty-five eases against the
Louisiana Lottery compauy for viola
tion of the law' which prohibits the
sending of lottery matter through the
mails. Mr. Mnynurd soys the chain of
evidence iu these cases is complete and
that the lottery compauy will hardly
dispute the factB. He thinks the power
of tbe company is broken and says the
business is reduced to such a point that,
although it advertises a capital prize of
$300,000, yet it does not sell more khan
the liulf of any ticket, so that it is im-
ssihle for the capital prize to be
rawn.
Working for the Siioakershlp.
Washington. Sept. 5.—The presence
in Washington of Congressman Mc
Millan, an avowed candidate for speak
er, has given rise to the following rumor,
which was published by The Star: "It
is said that the Mills and McMillan folks
are trying to make a combination in
New York whereby a New York man
will be presented as a candidate for
clerk of the next house, aud a majority
of the New York delegation will vote
for either Mills or McMillan f
An Old Publishing Man.—Dr
Buck, whose wonderful success as
painless extractor of teeth has been
boon to timid people, was originally a
typo, learning the business of publish
ing thoroughly in his father’s exten
sive house iu Louisville. The Doctor
is a pleasant talker and tells in an inter
esting way of his many experiences.
He is probably tbe only man who has
ever extracted the tootu of a smiling
and unconcerned patient and this he
dou> many times a day.
THE SCALPING KNIFE
WILL BE
SHEATHED FOR
TIME BEING
THE
AND THE RED MEN,
Will Celebrate Their lAnnlversary In
Style—The Keeper of the Warn-
pum i Will Prepare a Feast and
the blgChlefs will Speak,
pos
urn
Going After Scott.
Denver, Sept. 5.—An officer left for
Tacoma, Wash., for Seott, the Cincin
nati man who was arrested for forgery
and embezzlement and the stealing of
another man’s wife. The officers refnse
to give out much information about the
case, stating that Scott’s father, who
livee in New York, is willing to settle
up the matter and desires that the
name of the firm should be kept secret
in order to save his son from further
disgrace.
A Woman Poisoner.
Crawfordsvillb, IntL, Sept. 5.—In
the past few weeks several mysterious
attempts have been made to poison dif
ferent families. The latest move in that
ition was at the home of Perry En-
icott. The drug was thrown over a
transom into a sleeping apartment. The
family was awakened by the noise and
a woman was seen running out of the
yard, but she was not oaught.
Typhoid Raging In Wheeling.
Wheeling, Sept. 5.—An epidemic of
typhoid fever Is raging in the 6th and
8th wards of this city. More than 100
deaths have occurred, and there are now
250 oases being treated. Oi
In the- 8th ward has thirty
several Instances whole fanu-
aye prostrated. The eptdemio is at
tributed to tne use of the Impure water
from the wells.
Shoeing and Physical Develop
ment.—From the records of the Senior
class of Yale college during the past
eight years, the non-smokers have
proved to have decidedly gained over
the smokers in strength, weight and
lung capacity. All candidates for the
crews and other athletic sports were
non-smokers. The non-smokers were
twenty per cent, taller, twenty-five per
cent, heavier and of sixty per cent,
more lung capacity than the smokers
In the graduating class of Amherst
college of tbe present year, those not
using tobacco have gained in weight
twenty per cent., in height thirty-sev-
eq per cent, in chest, and girt forty-two
per cent, over those using tobacco,
while they have a greater lung capaci
ty 8 36 cnbio inches.—Medical News.
Since 1887, the scalping knife and the
tomahawk have played havoc among
the pale faces of Athens, and the wig
wam of the Ooonees has been literally
lined with the scalps of valiant
pale face warriors who fell in conflict
with the Red Men of the Classic City.
Around the council fires of Oconee
tribe, the plans have been adroitly laip
from time to time, and by their execu
tion many a pale face has had to don
the moccasins of the red man and at
tire himSelf in the regalia of the forest.
However, at the close of each battle
they have all smoked the pipe of peace,
and have gone on in their work doing
good to a largo number of their band.
Next Thursday night at their wig-
warm on Broad street, the braves of
Oconee tribe No. 15 will celebrate the
fourth anniversary in this land of the
pale faces. The K saper of the Wam
pum will provide a big feast of
all kinds ot eatables and
the big chiefs wiih a mighty “Ugh!
Ugh!” will address the braves aud
pale-faces assembled.
Several pale-face maidens will add
additional interest to the exercises by
singing the most beautiful of songs,
and ail will be a scene ot mirth and en
joyment.
Oconee tribe now bas about one hun
dred members, made up from among
the very best and most solid citizens of
Athens. Its officers are E. T. Brown,
Sachem; C. J. O’Farrell, Prophet; Jbe
B. Mattox, Senior Sagamore; J. H.
Massey, Juuior sagamore; J. H. Meal-
or, Chief of Records; J. K. Kenney,
Keeper of Wampum; .T.
N. Saye, 1st Warrior;
W. B. Ho«ey, 2nd Warrior; J. O.
Cook, 3rd Warriors; E. L. Michael,
4th Warrior; J. H Richards, 1st Brave;
W. N. Teat, 2nd Brave; E. P. Stone,
3rd Brave; Moses Fitzpatrick, 4th
Brave; J. T. Parker, Guard of Wig
wam ; J. T. Dean, Guard of Forest.
Mr. Joel T. Dean is the Grand Depu
ty for this division and is vested with
the power of organizing new tribes.
A movement is being made now to
establish a new tribe in Athens and
will probably be very successful.
At the meeting on tbe anniversary
occasion next Thursday night at eight
o’clock, there will be Red Men present
and all such pale face friends as they
invite.
For the enjoyment and pleasure of all
who are present, a most delightful
musical programme, both vocal and in
strumental will be arranged, and will
be tarried out by the best talent in
Athens.
Then will follow some big speeches
Col. E. T. Brown, Col. S. J. Tribble,
and Hon. H. C. Tuck will be tbe speak
ers of tbe evening.
After the speaking, a delicious feast
will be spread and pleasures of a ntore
substantial kind thus enjoyed.
The order is in a very flourishing con
dition and continues to grow stronger
every day.
Tbe members who belong to it say
they are pleased more with its work
ings than any order they know of.
At any event, the anniversary ever-
cises next Thursday will be a great af
fair.
Miss Ella Hargrove has returned to
Crawford after a pleasant visit to Miss
Dorsey, of Athens.
“FEa.K AND WEEBLE.”
A friend of mine had an odd way of
mixing her words. Perfectly, uncon
scious of it, she would often make folks
laugh. She would speak of feeling
“feak and weeble,” for weak and feeble,
and “castor ill polls,” for castor oil
pills. But she was weak and feeble,
until she took that powerful, invigora
ting tonic, “Favorite Prescription,”
which so wonderfully imparts strength
to the whole system, and to the womb
and its appendages in particular. For
overworked women, run down women,
and leeble women generally, Dr. Pier
ce’s Favorite Prescriation is unequaled,
is invaluable in allaying and subdu-
j nervous ^excitability, irritability,
exhaustion, prostration, hysteria,
:pa8ms and other distressing, nervous
°ympton8, commonly attendant upon
functional and organic disease. It in
duces refreshing sleep and relieves
mental anxiety and despondency.
THE MARKETS.
Banner Office, Sept. 5th.
The Athens market is hardly on its
feet for this season, few bales having
arrived. Middlings however are quo
ted 7%c. to 8c.
The New York market yesterday in
spots was quoted at 8 13-16; futures
opened firm and closed steady.
‘ ‘ CIos'
Sep.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
April.
May.
June
July.
Opening.
8 64-70,
89
98
924
34
46
57
66 7
76 7
85 7
93 7
losing.
8 81-2.
9 01
17
29-30
42-3
54-5
64-5
74-5
84-5
9 35
10-01-3
i
The Liverpool Market for spots was
steady with a fair demand. Uplands
4 7-8. Sales 10,000.
Futures were steady at following quo
tations:
OPENING. CLOSE.
Sep. Oct. — 4-52 — 4.55-6.
Oct. Nov. — 57-69 — -61.
Nov. Dec. — 63- — 6-01.
Dec. Jan. — 63-5.01 — 5-03.
Jan. Feb. — 5.02-4 — 8-06.
Feb. Mar. — 5.04-6 — 6-08.
Mar. Apr. — 5.07-9 — 5-10.
Apr May — — 5-13.
May June — — « 5-15,