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The weekly banner. (Athens, Ga.) 1891-1921, September 08, 1891, Image 1

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advertisers. the daily akd weekly 3E1. m urrtit circutatloW of oof r» JJjJUdln NorthMfUrt t"**" Goorgl. . .. I s.yl I €naelidal«d with the 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,