Newspaper Page Text
THE VIENNA PROGRESS.
TERMS, One Dollar Per Annum.
“HEW TO THE LIXE: LET THE CHIPS FALL WHERE THEY MAY.”
JOHN E. HOWELL, Editor and Prop'r.
VOL. XIII. NO. 29.
VIENNA, GA„ TUESDAY. FEBRUARY 6. 1895.
PUBLISHED WEEKLY.
During tlia last thirty-five years
more than 1000 varieties of postal
cards have been issued.
Tho New York Advertiser alleges
that a Southern California editor is
being boycotted by some of his reader i
because he publishes the mean tern'
perature of the town.
Official steps have just been taken,
without opposition, to abolish the
only remaining toll road in Connecti
cut, the Derby turnpike. Tire com
pany was chartered about ono hun
dred vcars ago.
It is said that Thomas A. Edison
has been the subject of mere biogra
phies than any other living man. Tho
latest, entitled “Tho Life and Inven
tions of Thomas Alva EdisoD,” has
just been issued by an English firm.
From returns received at the British
War Office it is estimated that the
number of noncommissioned officers
and men entitled to the Queen's meda]
for long and meritorious service, run
ning from twenty to thirty-four years
in many cases, is over 30,000.
Expert Moore estimates that it will
require about $9,000,000 per year for
the next five yeaia for the physical
needs of the Atchison railroad system.
This amount is considered moderate,
ns it amounts to less than $1000 per
mile and includes many extraordinary
expenses, such as replaoing wooden
with iron bridges, and contemplates
putting and keeping the road up tc
tho highest standard.
A Las Vegas (New Mexico) news-
papor calls the attention of patriotic
New Mexicans to the fact that Arizona
has 119 inmates in its State insane
asylum,while New Mexico, with nearly
three times tho population of Arizona,
has only fifty in its asylum. Further,
Arizona's insane population has in
creased thirty per cent, in the last
eighteen months. The newspaper
urges that “tho next Legislature
should remedy this crying defeot.”
Tho Chicago Record states that in a
very able and scholarly address de
livered before tho Kansas Irrigation
Association Judge J. S. Emery, of the
National Irrigation Society, pnt for
ward some facts of vital interest not
only to the inhabitants of arid ' „ates,
but to tho whole Nation. It will
doubtless be a surprise to most read
ers to learn that that portion of
America which may be considered as
practically arid and unproductive is
nearly half as big as all the United
States, save Alaska. Judge Emory
vouches for this fact and also for the
other fact, sustained by the opinions
of expert geologists, that of this enor
mous area 100,000,000 acres can be re
claimed by the use of proper methods
of irrigation.
Tho annual report of Governor
Renfrew, of Oklahoma, furnishes an
interesting picture of the wholly
unique American way of colonising
and State building, according to which
new commonwealths grow up into the
Union as naturally as a younger child
is born into a family, on equal terms
with the rest from the beginning.
Oklahoma, it is true, is not yet a State,
blit it is getting ready to become one:
As the Governor remarks, at the orig
inal opening of Oklahoma proper the
world beheld the strange spectacle of
a city of 10,000 inhabitants built in a
day, and a Territory of 9400 square
miles settled iu half a day. That was
four years ago. Its present popula
tion is given as 250,000, and tho value
of its properly as $20,000,000. Noth
ing there was begun more promptly
than provision for churches and schools.
Already there is a school house conven
ient to every family, a Territorial uni
versity, a Normal School and an agri
cultural and mechanical college. As
for churches, there are ninety-five
Baptist, fifty-five Congregational, for
ty two Methodist, thirty-one Presby
terian, twenty-four Catholic, and sc
on. As to Statehood, some desire to
have Oklahoma admitted at once;
others would wait a little, hoping that
Indian Territory may yet be joined
with Oklahoma, both making one great
State, in which case, says the Govern
or, ‘fit would be equal to the greatest
and, in my opinion, the finest State
(vest of the Mississippi.”
Diamonds Are Hard.
After perfect rubies and emeralds,
and perhaps after great pearls, comes
the diamond iu value. This, too, has
a range of colors, the most prized be
ing red, bine, greeu and water white,
while brown or gray tinges are not
quite so highly esteemed. TheKoh-i-
Noor, of 102 j carats, ranks low in point
of size with some of the world’s great
stones—for instance with the Great
Mogul, 279 carats in weight. Diamond
is the hardest mineral known, brittle
i hough it be ; acids do not effect it,
aud it is also the only combustiblo
gem. It has high refractive and dis
persive powers (“fire”), and some
specimens become phosphorescent by
the action of light. It usually occurs
as an eight-sided crystal.—New York
Times.
Profits in the Drug Business.
“Speaking of profits in the drug
business,” said a Broadway druggist,
“my lease is for seven years, and has
four years yet to run. If I don’t re-
iire with $100,000 clear from llrit
store my figuring powers are very-
faulty. ’’--New York Sun.
CLEVINLAND’S CALL.
MESSAGE ON FINANCE SENT
TO CONGRESS.
Declares Ho !s Not “Unfriendly to
Silver Legislation.”
Washington, January 28.—The presi
dent today sent to congress the follow
ing message on the ilnnncial question:
To the .Senate and House of Representa
tives :
Iu my last annual message, I recom
mended to the serious consideration oi
peatlng the exhausting operation with
shorter intervals as our perplexities ac
cumulate. Conditionsare certainly super
vening tending to make the bonds which
may he Issued to replenish our gold lesB
useful for that purpose.
ADEQUATE GOLD HESEHVE XECeAaBV.
An adequate gold reserve is, in all
circumstances, absolutely essential to
the upholding ot our public credit, und
to the maintenance of our high national
character. Our gold reserve has reached
such a state of diminution as to require
its speedy reinforcement.
The aggravations that must inevita
bly follow the present conditions and
methodB Will certainly lead to misfortune
and loss not only to our national credit
and prosperity and financial enterprise
but to those of our people who seek em
ployment as a means of livelihood, and
the congress the condition of our na
tional finances, and in connection with to those whose capital is their daily
the subject indorsed the plan of currency
legi.-dation which, at that time, seemed
to furnish protection against impending
danger. This plan has not been ap
proved by the congress. In the mean
time the situation has so changed and the
emergency now appears so threatening,
that I deem it my duty to a»k at the
hands of the legislative branch of the
government such prompt and effective
action ns will restore confidence in our
financial soundness and avert business
disaster and universal distress among
our poople. Whatever may be the merits
the plan outlined in my annual mes
sage as a remedy for evilH then existing
and as a safeguard against tho depletion
oi (lie gold reserve then in the treasury,
I am now convinced that Its rejection by
congress and our present advanced stage
of financial perplexity, necessitates addi
tional or different legislation.
OUK GREAT RESOURCES UNLIMITED.
With natural resoucres unlimited in
variety and productive strength, and
with a people whose activity and enter
prise seek only a fair opportunity to
ncliieve fluntionni success and greatness,
our progress should not be checked by a
false nnneial policy, and a heedless dis
regard of sound monetary laws nor
should the timidity and fear which en
gender stand in the way of our prosper
ity. It is hardly disputed that this pre
dienment confronts us today. Therefore,
no one in any degree rcspoi.Bible for the
making and execution of our laws
should fail to see a patriotic duty in hon
estly and sincerely attempting to relieve
the situation. Manifestly, this effort will
not succeed unless it is made untrammel
led by the prejudice of partisanship and
with a steadfast determination to resist
tho temptntion to accomplish party ad
vantages. We may well remember that
If we arc threatened with financial diffi
culties, all our people, In every station of
life are concerned and surely those who
suffer will not receive the promotion of
party interests as an excuse for permit
ting our present troubles to advanco to
a dlBtnstrous conclusion. It is also of the
utmost Importance that we approach
tho study of the problems presented as
free ns possible from the tyranny of pre
conceived opinions, to the end that in a
common danger we may be able to seek
with unclouded vision a safe and reason
able protection.
THE REAL TROUBLE EXPLAINED.
The real trouble which confronts us
consists In a luck of confidence, wide
spread and constantly increasing, in the
continuing ability or disposition of the
government to pay its obligations in
gold. This lack of confidence grows to
some extent out of the palpable and ap
parent embarrassment attending the
efforts of the government under existing
laws to procure gold and to a greater
extent out of the impossibility of either,
keeping it in the treasury or cancelling
obligations by its expenditures after it is
obtained.
TO ISSUE BONDS THE ONLY REMEBY.
The only way left open to the govern
ment for procuring gold is by the issue
nud sale of bonds.
The only bonds that can be so Issued
were authorized 25 years ago, and were
not calculated to meet our present needs.
Among other disadvantages they are
made payablein coin instead of specifical
ly in gold, which in existing conditions
detract largely and in an Increasing ratio
front their desirability as investments.
It is by no means certain that bonds of
this description can much longer be dis
posed of at a price creditable to the
financial character of our government.
The most dungerous and Irritating fea
ture of the situation, however, remains
to be mentioned.
THE MOST DANGEROUS FEATURE.
It is found in the means by which the
treasury is despoiled of gold thus ob
tained without cancelling a single gov
ernment obligation and solely for the
benefit of those who find profit In ship
ping it abroad or whose fears induce
them to horde it at home. We have out
standing about $500,000,000 of cur
rency notes of the government for witch
gold may be demanded, and curiously
enough the law requires that when pre
sented and in fact redeemed and paid in
gold, they shall be re-issued. These
same notes may do duty many times in
labor.
It will hardly do to say that ft simple
increase of revenue will cure our troubles
with the apprehension now existing and
constantly increasing as to our financial
ability does not rest upon a calculation
of new revenue.
The tim e has passed when the eyes of
investors abroad and ourpeople at home
were fixed upon the revenues of the gov
ernment. Changed conditions have at
tracted their attention to the gold of
the government. There need bo no fear
that we cannot pay our current expenses
with such money as w.e have. There Is
now In the treasury a comfortable sur
plus of more than $63,000,000, but It
is not in gold and therefore does not
meet our difficulty.
SILVER NOT +UE ISStjE.
I cannot see that differences Of opinion
concerning the extent to which silver
ought to be coined or used in oitr cur
rency, should interfere with the counsels
of those whose duty it is to rectify evils
now apparent in our financial situation.
They have to consider the question oi
national credit and theconsequencesthat
will follow from its collapse,
Whatever ideas may be insisted upon
ns to silver or bimetalism, the proper so
lution of the question now pressing upon
us only requires a recognition of gold as
well as silver and a concession of its im
portance, righlfull« or wrongfully acquir
ed, as a basis of national credit, a neces
sity of an honorable discharge of our ob
ligations payable in gold and a badge of
solvency.
xviiat friends of silver demand.
I do not understand that the real
friends of silver desire a condition that
might follow inaction, or neglect to ap
preciate the meaning of the present ex
igency, if it should result in the en
tire banishment of gold from
our financial and currency
arrangements. Besides treasury notes
which certainly should be paid in gold,
amounting to nearly 500,000,000 of
dollars, there will- fall due in 1004 one
hundred millions of bonds, issued during
the last year for which we have received
gold, and in 1907 nearly 600.000,000 of
4 per cent bonds issued in 1877. Shall the
payment of these obligations in
gold be repudiated? If they are to be paid
in such a manner qb the preservation of
our national honor and national sol
vency demands, we should not destroy
or eien imperil our ability to supply our
selves with gold for this purpose.
NOT UNFRIENDLY TO SILVER.
While I am not unfriendly to silver,
and while I desire to see it
recognized to such an extent as is consis
tent with the financial safety and the
preservation of national honor anil
credit, I am not wiling to see gold entire
ly abolished from our currency and
finances. To avert such a consequence I
believe thorough and radical remedial
legislation should be promp tly passed.
I therefore asked congress to give the
subject immediate attention.
WHAT SHOULD DE DONE.
In my opinion the secretary of the treas
ury should be authorized to issue bonds
of the government forthe purpose of pro
curing and maintaining a sufficient gold
reserve and for the redemption and can
cellation of the United States legal tender
noteB and the treasury notes issued for
the purchase of silver under the law oi
June 14th, 1890. We should be reliev
ed from Iho humiliating process
of issuing bonds to procure gold to be
immediately and repeatedly drawn out
on these obligations for purposes not re
lated to our government or our people.
The principal and interest of these
bonds should be payable on their face in
gold, because they should be sold only
for gold or its representative, and be
cause there would now be difficulty in
favorably disposing of bonds not con
taining this stipulation.
HONDB OF SMALL DENOMINATIONS.
I suggest that the bonds bo issued in
denominations of twenty and fifty dol
lars, and their multiples, and that they
bear interest at a rate not exceeding 3
per cent per annum. I do not see why
they should not be payable fifty years
from their date. We of the present gen
eration have large amounts to pay if we
meet our obligations, and long bonds are
most saleable. The secretary of the
treasury might well be permitted at his
discretion to receive on the sale of bonds
the legal tender and treasury notes to be
Ira wing gold from tho treasury, nor can • re ^ re ^> and of course when they ore thus
this process be arrested ns long ns private ^ ” tlj
parties profit or otherwise see an advan
tage in repeating the operation. More
than $500,000,000 in these notes have
■iready open re ieented in gold, and not
withstanding such redemption, they are
all still outstanding.
Since the seventeenth day of January,
1894, our bonded interest bearing debt
has increased $100,000,000. For the pur
pose of obtaining gold to replenish our
coin reserve, two issues were made
amounting to fifty millions each—one in
January and the other in November. As
a result of the first issue, there was real
ized something mor. than fifty-eight mil -
ions of dollars in gold. Between that
issue and the succeeding one, in Novem-
oer, comprising a period of about ten
months, nearly one hundred and three
millions of dollars in gold were drawn
from the treasury. This made the sec
ond issue necessary and upon that more
than $58,000,000 in gold was again real
ized.
Between the date of toe second issue
and the present time covering a period
of only about two months, more than
sixty-nine million dollars in gold have
been drawn from the treasury. These
large sums of gold were expended with
out any cancellation of government obli
gations, or in any permanent way bene-
fltting our people or improving our pe
cuniary situation.
FINANCIAL EVENTS OF THE YEAR.
The financial events of the past year
suggest facts and conditions which
should certr' tention:
More than 172,000,000 of dollars
in gold have been drawn out oi
the treasury during the year
■ or the purpose of shipments
abroad, or hoarding at home, while
nearly one hundred and three millions
of this amount were drawn out during
the first ten months of the year) a sum
aggregating more than two-thirds of
that amount, being about sixty-nine
millions, was drawn out during the fol
lowing two months, thus indicating a
marked acceleration of the depleting pro
cess with the lapse of time. The obliga
tions upon which this gold has been
drawn from the treasury are still out
standing and are available lor use it re-
retired or redeemed In gold thy should be
cancelled.
COULD BE USED BY BANKS.
These bonds under existing laws could
be deposited by national banks as secur
ity for circulation,and such banks should
be allowed to issue circulation up to the
faio value of these or any other bonds
deposited, except bonds outstanding
bearing only 2 per cent interest, and
which sell iii the market at less than par.
National banks should not be allowed to
take out circulating notes of a less de-
nonrination than ten dollars and
and when such as are outstanding reach
the treasury, except for redemption an<T
retirement, they should be cancelled and
notes of the denomination of $10 and up
wards issued in their stead. Silver cer
tificates of the denomination of $10 and
upwards should be replaced by certifi
cates of denominations under $10.
_ IMPORTS PAYABLE IN GOLD.
As a constant means for the mainten
ance of a reneonable supply of gold in
the treasury our duties on imports should
be paid in all gold, allowing all other
dues to the government to be paid in any
other form of money.
I believe all the provisions I have sug
gested should be embodied in our laws if
we are to enjoy a complete reinstate
ment on a sound financial condition.
They need not interfere with any currency
schem e provided for the increase of the
circulating medium, through the agency
of national or state banks, since they can
easily be adjusted to such a scheme.
BONDS TO RETIRE LEGAL TENDERS.
Objection has been made to the is-
finance of interst bearing bonds for the
purpose of retiring the interest bearing
legal tender notes. In point of fact, how
ever, these notes have burdened us with
a large load of Interest and it is still ac
cumulating. The aggregate interest
on the original issue of bonds, t ie pro
ceeds of which in gold constitut 'd the re
serve for the payment of t iese notes
amounted to $70,320,250 on Januarv 1,
1895, and the annual charge for interest
on these bonds, and those issued for the
same purpose during the last year will
he $9,145,000 dating from January 1,
would not relieve its "from the obligations
already incurred on their account, these
figures are given by way of suggesting
that their existence has not been free from
interest charges and that the longer they
are outstanding, judging from the ex
perience of last year, the more expeneive
they will become.
RELUCTANT TO SEE MORE BONDS ISSUED.
In conclusion, I desire frankly to confess
my reluctance to Dsuing more bonds in
present circumstances, and with no bet
ter results than have lately followed that
course. I cannot, however, refraiD front
adding to an assurance of much anxiety,
to co-operate with the present congress
in any reasonable measure of relief, an
expression of my determination to leave
nothing undone Which furnished a hope
for improving the situation or checking
a suspicion of our disinclination or dis
ability to meet with the strictest honor
every Rational obligation.
Grover Cleveland.
Executive Mansion, January 28, 1895.
A NEW FlNANt IAL Bil l,.
Washington, January 28.—Chairman
Springer, of the banking and currency
committee of the house, has introduced a
bill to carry into effect the recommenda
tions of the president's message.
He has notified his committee to meet
tomorrow morning and consider the
bill. The bill is ag follows:
“An act to authorize the secretary of
the treasury to issue bonds to maintain
a sufficient gold reserve and to redeem
and retire United States notes and for
other purposes.
“3e it enacted by the senate and house
of representatives of the United States of
America, in congress, as*embled, that, in
Order to enable the secretary of the treas
ury to procure and maintain it sufficient
gold reserve and to redeem and retire
United States notes and treasury notes,
issued under the act oi July 14, 1890, en
titled “an act directing the purchase Of
silver bullion and tho issue of treasury
notes thereon and for other purposes,
he is hereby authorized to issue and to
tell at not less than par in gold, except
as provided in section 2 of this act United
States registered or coupon bonds, in
denominations of twenty dollars and
fifty dollars and multiples of said sums,
respectively, payable in fifty years in
gold coin of tbe United States of the pre
sent weight and fineness and bearing in
terest at a rate not exceeding 3 per cent,
per anum, payable quarterly in like coin;
and such bonds and the interest thereon
shall have like qualities privileges ami
exemptions as the bonds issued under the
act approved July 14, 1890, entitled an
act to authorize the refunding of the na
tional debt. Such bonds may be sold and
delivered in the United States or elsewhere
as may be deemed most advantageous to
the interests Of the government.
Section 2. That whenever any United
States legal tender notes or treasury
notes shall be redeemed in gold, they
shall be cancelled and not reissued, and
the secretary of the treasury is hereby
authorized, in his discretion, to receive
United States legal tender notes and
treasury notes issued_under the aforesaid
act of July- 14, 1890,"in payment for any
oi the bondB issued under the preceding
soctlou of this act and the notes so re
ceived sltali be cancelled ami not reissued.
Section 3. That hereatter national
banking associations may take out of
circulating notes in the manner now pro
vided by law to an amount equal to the
par value of the bonds deposited to se
cure the same. But this provision shall
not apply to any bonds now outstanding
bearing interest at tbe rate of 2 per cent
only.
Section 4. That hereafter no national
bank note of less denomination than $10
shall be issued, and as rapidly as such
notes of denominations less than $10
shall be received into the treasury, other
wise than for redemption and retire
ment, they shall be cancelled and an
equal amount of notes of likewise char
acter, but in denominations of ten dol
lars and multiples theteof, shall be issued
in their pieces. All silver now outstand
ing In denominations less than $10,shall,
when received into the treasury of the
United States, be retired and cancelled
and silver certificates In denominations
less than $10 shall be issued in their
stead.
Section 5. That from and after the
first day of July, 1895, ail duties on im
ports shall be paid in gold only, and all
taxes, debts and demands, oiher than
duties on imports, accruing or becoming
due to the United Sattes, shall bo paid in
gold and silver coin treasury notes
United States notes, silver certificates or
notes of national banks.
CONGRESSIONAL.
WHAT THE NATIONS’ LAW-MA
KERS ARE DOING.
The
GROWTH OF THE SOUTH.
Tbo Industrial Situation as Reported
for the Past Week. *
The report on the industrial condition of the
south for Iho past week shows that information
front all the important lumber points in the
southern stales indica es that the revival in ihe
lumber industry to now a certainty. Favorable
reports are received from many manufacturers
woo are running to their full cnpaci v, with or
ders ahead. Prices are firm and an early ad
vance is probable owing to the light stocks on
hand and to the steadily increasing demand.
Coal is quiet, with a con'inned large output,
and with uo accumulation of stocks. Iron is
unchanged. Production continu; s to be large,
and fnrnace men report preparations for in
creasing the supply.
New cotton m li companies are reported as
having been organized (luring the week at
H ckory, N. C-, with $500.000capital; at Green
ville, S. C., with $250,000 capital; one to cost
$150,000 at Albany, Ga.: a $5.i,(00 one at
Ozaik, Ala., and others at Barnesviile, Ga-, aud
Chattanooga, Tenn.
There is also reported the organization at
Richmond, Va., of a $300,000 company to man
ufacture tobacco tagging machines; a 110b.000
rrigation company at San Antonio, Texas;a
$50,000 sugar mill Pointe Coupee, La., and a
$50 000 veneer mill at Central City, W. Ya.
Car building works are reported at Texarkana,
Ark.; machinery works at tiftOD, Ga., and
Charlotte, N. C.; improvement companies at
Augusta, Ga., and Rock Hill, S. C., and flour
ing mills at Birmingham, Ala., Moorefleld, Ky.,
ami Forrest City, N. C. Canning foctories are
to be bnilt at Gr ensboro aud Ozark, Ala., e ec-
trical plants at Florence, Ala., and Shelbyville,
Tenn.; marble works at Tifton, Ga., aud wood
working plants at Huntsville and Ozark, Ala.,
Bearden, Mftiana an 1 Thornton, Ark., Bruns
wick and Waycross, Ga., Bridgewater, Raleigh
and Rockingham, N. C., Alrneda, S. C., and
Siisbee, Tex,
The new buildings for the week, as reported
t The Tradesman, include business bouses at
New Smyrna. Fla., Macon, Ga., and Fort Worth,
Texa ,'a Hospital at Angnsta, Ga.; a $15,000
school building at Brewton, Ala., and one to
cost $20,000 at Troy, Ala., and a m&sonio
building at Loirsvillej Ky.—Tradesman, (Chat
tanooga, Tenn.)
Lowest Since 1879.
The treasury gold reserve xvas re
duced Monday to $52,463,173, the
withdrawal for the day was officially
reported to the treasury as being
$3,385,000. Of this amount $3,100,-
000 was taken out at New York and
$285,000 at Boston. Of the with
drawals at New York $2,150,000 was
for export. This brings the treasury
gold reserve down to the lowest point
it ever reached since the resumption
of specie payments on January 1,
1879.
GUATEMALA ORDERING ARMS.
She is Placing Orders in Germany
for War Material.
The Koeinischc Zictung (Berlin) says
that Guatemala has placed large orders
for war material with the best known
German factories. Mexico also is said
Proceedings of Both Houses
Briefly Epitomized.
THE SENATE.
The credentials of Mr. Cullom, of
Illinois, for the term beginning March
4 next, were jtresented to the senate
Tuesday by hid colleague, Mr. Palmer.
The credentials of William H. Sewell,
of New Jersey, were presented by Mr.
McPherson, who will be succeeded by
Mr. Sewell, Mr. Hill (dem., New
York) presenL.u a resolution from the
New York chamber of commerce, pass
ed with but one dissenting vote, heart
ily approving the financial' course of
the president and urging congress to
aid in sustaining the government’s
integrity and in meeting the emer
gency by an issue of bonds as suggested
by the executive. The resoluti- a also
adds that whilo momentary reform is
requisite, yet it should not be under
taken until recommended by a thor
oughly qualified commission. Mr.
Voorhees, from the committee on
finance, presented a compilation of all
laws bearing on the issue of paper
money. It was ordered printed as
a part of the financial literature now
being prepared. Mr. Candler intro
duced a resolution that the interstate
Commerce commission be directed to
send to the senate ft statement pre
pared from the latest returns to the
office of the commission showing the
capitalization of all and each of the
eight principal railway lines trans
porting passengers and merchandise
between Chicago and the Atlantic sea
board; showing also the proportion
which such capitalization bears
to the total capitalization of railroads
of the United States and including for
the last year a statement of the aggre
gate gross and net income of said lines,
also compared with the gross and net
income of all the railroads of the
United States.” Mr. Chandler said
this information was necessary to un
derstand the eflect of the bill recently
reported from the committee on inter
state commerce. He quoted the sec
tion of the bill allowing pooling and
continued; “The authority given by
this paragraph is stupendous. Under
siich authority all the railroads
of the country may pool all
their gross or net earnings from
all sources. They may virtually
unite or form one company or partner
ship, with a capitalization equal to
the existing June 30, 1893,of $10,506,
235,410 j the gross earnings of which
were for the year then ending,$1,230,
751,874, and the net income after
paying fixed charges was $111.508,304,
They may agree to commit the man
agement and disposition of thie gross
or net income to a managing board of
even three officers of the various rail
roads. This board can be given an
thority and discretion to pay out fof
the purpose of control of legislatures,
state or national, or other public offi
cers, or for any other purpose such
portions as they may see fit of the
gross or net earnings of this gigan
tic partnership, and afterwards to
divide the remainder of the net earn
ings among the various companies ac
cording to arbitrary fixed portions of
one hundred per cent of the whole.”
The senator then read the amend
ments he offered in the committee, and
which he has since proposed in the
senate. He then said he could see no
reason for the rejection of the amend
ments holding that if it is not intend
ed that the interstate commerce com
mission shall mako an investigation,
“then the promise is a fraud and de
ception on the people.”
A very animated consideration of tho
financial question took place in the
senate Wednesday. Mr. Cullom, re
publican, of Illinois, presented a dis
patch from all the leading banks of
Chicago urging that the president’s
recommendations be carried out at the
earliest day possible. Mr. Vest, dem
ocrat, of Missouri, followed with a
similar dispatch from the St. Louis
chamber of commerce. This was the
text for one of the most stirring scenes
that the senate has heard in many
days. Mr. Vest said the chamber of
commerce of St. Lonis did not repre
sent the feeling of the people of Mis
souri, or of the country, on the finan
cial question. He did not believe the
people favored a retirement of $500,-
000,000 of greenback and treasury
notes and the substitution of uo cur
rency at all. He did not believe in
the favored gold obligations running
fifty years, with the interest aggrega
ting $75,000,000 at the end of that
time. It was a selfish suggestion that
posterity should be left to pay this bad
debt. The obligation of this senate
were as binding toward posterity as
toward the present generation. It was
as much the duty of the senate to pro
tect the suggestion of the president to
look after the present and let the future
look after itself. Mr. Vest
ener;
and
is “To provide for a special election to
take the sense of the people concerning
several questions as to the financial
policy of the government.”
THE HOUSE.
The message from President Cleve
land to congress npon the financial
situation of the government was read
to the house immediately after it as
sembled Monday. At the conclusion
of the reading Mr. Springer presented
his new bill to revise the currency and
banking systems and it was referred to
the committee on banking and curren
cy for examination and report. The
president’s message was referred to
the committee of the whole. The Nic
aragua canal bill was received from
the senate and referred to the commit
tee on interstate and foreign commerce.
Tfio honse in committee of the whole
continued the discussion of the bill to
repeal the differential duty of 1-10 of
1 cent a pound on sugar imported from
countries paying an export bounty on
that article. Its passage was advocated
by Messrs. Turner, Wheeler and Ter
ry, and opposed by Messrs. Dalzell,
Hopkins and Doliver. After parsing
two or three private bills, the house at
5 o’clock adjourned.
Mr. Outhwaite, chairman of the
committee on military affairs, asked
unanimous consent in the honse Tues
day for the consideration of a joint
resolution to revive the grade of lieu
tenant-general in the army in order
that Major Schofield might be pro
moted thereto, but Mr. Wadsworth,
republican, of New York, objected.
The senate bill to authorize the city
of Charlotte, N. C., to beautify the
United States mint property and use
it as a public park was passed.
Iu the house Tuesday, Mr. Catch-
ings, democrat, of Missouri, from the
committee on rules, reported a special
order, setting aside the remainder of
the day, after the adoption of the or
der, and Thursday until 3 o’clock, for
debate of the Pacific railroad bill and
an hour and a half subsequent to that
time for debate under the five minute
rule, with provision for a vote on the
bill and pending amendments at 4:30.
Mr. Boatner, democrat, of Louisiana,
and McGuire, democrat, of California,
protested strenuously against the brief
time allowed for debate on a bill of
such gigantic importance. But seven
hours, said Mr. Boatner, was allowed
for debate on a bill which proposes to
give away $100,000,000, and condone
offenses and crimes with which the
people have been familiar for years.
Mr. Catchings demanded the previons
question on the adoption of the rule,
and it was ordered—134 to 14. Mr.
Holman demanded the yeas and nays,
which were ordered.
JUDGE ERSKINE DEAD.
He Was on the Federal Bench During
Reconstruction Days.
Judge John Erskine, one of Atlanta’s
pioneer residents, who held the reins
of federal justico during the days of
reconstruction, died at his home in
that city Sunday morning. For near
ly two weeks he had been confined to
his bed but no one thought his illness
amounted to more than a slight indis
position.
Judge Erskine came to Atlanta near
ly forty years ago. His public duties
brought him in contact with large
numbers of people, and his figure, in
the course of years, acqmred the fa
miliarity of an old landmark. When
Judge Erskine came to Atlanta in 1855
he was in the vigor of his intellectual
prime and was a man of stout build
and rapid movement. • Ho continued
to go in and out among the people,
first an object of distrust, on account
of the federal power that was vested
in him, but growing in favor as his
locks whitened with advancing years
until his ermine was resigned, in the
full love and confidence of all who
knew him.
The people of Georgia owe much to
the courage of this brave-hearted Irish
man, who faithfully stood by them at
a time of great political excitement
and who administered the federal laws
with a kind and sympathetic hand.
Though appointed to office by Pres
ident Johnson, who recognized in him
a true and loyal republican, Judge
Erskine never made his partisanship
offensive and never caused any one to
feel the difference that existed be
tween them politically. In this aspect
he was an ideal presiding officer of the
court and fitly impersonated in his
grace and dignity the sovereign law of
the land.
As an evidence of the high esteem
in which Judge Erskine was held, a
meeting of the Atlanta bar was called
at the time of his resignation and quite
a number of eloquent addresses were
delivered. A more appreciative trib
ute was never paid to a living man.
In addition to these oral expressions
of love and confidence a portrait of
Judge Erskine was placed by the
members of the bar upon the walls of
the court room.
NEW ORLEANS COTTON FACTORS
_ __ to be negotiating with German makers
189 ". VhUe the Cancellation of these notes of email arms.
• char act
ized this objection as cruel in view
the recent wide latitude of financial
discussion. - The title of his resolution
orse the Plans Regarding Reduc
tion of Acreage.
[. a large and enthusiastic meeting
e New Orleans Cotton Factors’
tiation the following preamble
esolutions, after a thorough dia-
on, were unanimously adopted:
Lereas, The New Orleans Cotton
ors’ association has listened with
interest to the plans and opin-
ot the Hon. Hector D. Lane re-
ng the movement to reduce the
n acreage of the coming year,
solved, That the Cotton Fac-
association heartily endorses the
of the American Cotton Grow-
rotective association for the re-
jon of acreage to be planted in
n, and that it urges upon tho
ers,planters, merchants andbank-
f the cotton growing states the
ul and earnest consideration of
Ians submitted by Mr. Lane as a
of preserving the value of their
s, plantations, homes and securi-
istrial In Duestrow’s Case.
. Arthur Duestrow, the million-
slayer of his wife and child, has
ally escaped the gallows. The
which has been trying his case
failed to agree. The prisoner
ot released and may be tried
7n, but his fortune is immense, and
he will go into tbe next fight as well
equipped as he entered this.
FROM WASHINGTON.
NEWSY ITEMS PICKED UP AT
THE NATIONAL CAPITOL.
Sayings and Doings of the Official
Heads of the Government.
The house ways and means commit
tee, on Tuesday, agreed to report fa
vorably a bill to admit anti-toxine free
of duty.
The bill repealing tho differential
duty of one-tenth of a cent per pound
on sugars imported from countries
that pay an export duty, was passed
by the bouse just before adjournment
Tuesday afternoon, by a vote of 239
to 31.
Inquiries have been made of the
law division of the postoffice depart
ment as to the legality of the system
sought to be enforced by country
newspapers regarding the collections
of back subscriptions, and the taking
of the papers from the postoffice or
letting them remain there, if the sub
scriptions were unpaid. The assistant
attorney general has made a Bearch of
the statutes and decided that there is
no federal law covering snch cases and
that newspapers are governed by local
laws like any other private contract.
A high treasury official, when asked
about the statement that the treasury
raid could be Btopped by paying out
silver for greenbacks and treasury
notes, said : “Even if it were not the
established policy of the government
to pay either coin upon demand, in or
der that they should remain a parity,
and we should arbitrarily pay only
silver, we would be in the same fix.
There is not seven millions of silver
in the treasury which could be used
for that purpose. We have plenty of
silver, but it represents silver certifi
cates and must be used in their re
demption.”
A Labor Arbitration Bill.
The house labor committee has
agreed to report favorably to the
house, the labor arbitration bill pre
pared by Attorney Olney, as amended
at the instance of the representatives
of railroad employes now in Washing
ton. These amendments relate prin
cipally to the manner of choosing the
commission of arbitration, and prohib
it the issuance of injunctions restrain
ing employes from continuing the
strike and putting the railroads tem
porarily in the hands of receivers for
operation. The committee also agreed
to report a bill for the issuance of la
bor bulletins by the bureau of labor.
Justice Jackson to Retire.
Senator Harris, of Tennessee, has
introduced a bill in the senate to per
mit Justice Howell E. Jackson to re
tire from the supreme court. This
means that Justice Jackson, on ac-'
count of his health, is compelled to
retire from the bench. Justice Jack-
son has been in bad health for a year
or more and his retirement has been
expected. This opens the way for the
president to provide for William L.
Wilson, of West Virginia, who was
defeated for re-election iu the house.
There is little doubt but that Mr.
Cleveland will appoint Mr. Wilson to
the vacancy immediately after March
4th. Later on, when Justice Field
retires, Mr. Carlisle may be placed on
the supreme bench.
To Doctor American Cotton Seed Oil.
United States Minister Kunyon, at
Berlin, states that a bill has been in
troduced in the German reichstag to
reduce the duty od imported cotton
seed oil from 4 marks to 3.50 marks,
but this reduction of duty is to be ac
companied by a provision that will
make the importation of the oil impos
sible. The amount of cotton seed oil
imported from the United States for
the ten months ending October 21,
1894, was 440,896 gallons, of the value
of $592,413. As this oil comes into
competition with domestic materials
from which the Germans make oleo
margarine and cheese, the German
government has decided that imported
cotton seed oil must have added to it
some chemical compound in the pres
ence of a German customs officer,
which, without changing its character,
will render it unfit to be used in the
manufacture of any articles intended
for human consumption.
Senator Manderson’s Scheme.
Among the many financial proposi
tions proposed recently, that submit
ted to the senate by Mr. Manderson
is attracting considerable attention.
His scheme embodies the following
features: A reserve of $200,000,000 in
gold and $200,000,000 in silver; the
issue of bonds payable in gold or sil-
; the destruction of legal tender
notes when paid in gold or silver; the
exchange, for five years, when de
manded, of gold coin for silver coiD,
and of silver coin for gold coin; the
use of new bonds for national bank
currency (of not less denomination
than $10); the requirement of pay
ment of duties in gold on goods im
ported from countries having a gold
standard, and in gold or silver on
goods imported from conntries having
silver standard; and, finally,’the
free coinage of gold and silver at the
ratio of 16 to 1, and the enlarged coin
age of subsidiary silver coin.
Gold Withdrawals.
The gold reserve was reduced
Wednesday by withdrawals at several
subtreasnries to $44,551,322. The
withdrawals were as follows: At New
York $3,775,000; at Baltimore, $131,-
740. Total for the day, $3,951,740.
Humors as to what the president and
Secretary Carlisle intend to do were
plentifnl, bat no official announcement
was given out. No preparations are
being made for a bond issne, and none
will be made until the president is con
vinced that congress w-11 not respond
to his appeal for financial aid. Unless
this congress responds promptly to
the president’s suggestion, he will,
in the exercise of his discretion
under tho resumption act, direct
the issne of $100,000,000 bonds. Un
der this act there are three kinds of
bonds he may issue, viz: Five per
cect bonds which run ten years; 41
per cent bonds which run fifteen years,
and 4 per cent bonds which run thirty
years. As the president in his recent
message favored fifty-year bonds, the
general belief is that, if bonds are is
sued under the resumtion act,they will
be 4 per cent bonds to run thirty years.
Everything is contingent on the con
dition of the gold reserve. Should the
gcfld withdrawals diminish or cease al
together, the president may not con
sider another bond issne necis-tary at
this time, as the general condition of
the treasury, with $143,000,000 avail
able for expenses and constant im
provement daily showing in receipts,is
better now then it has been for the past
two years.
MEXICANS FURIOUS.
THE PEOPLE OF THAT COUNTRY
CLAMORING FOR FIGHT.
Newspapers Insist That Guatemala
Shall Humble Herself.
Latest advices from the City of
Mexico are that President Diaz hastily
summoned a council of ministers Mon
day afternoon and remained several
hours in consultation with them. As
the mouths of all officials are sealed to
inquiries, it is impossible to learn de
finitely the object of the meeting. It
is generally understood, however, that
the chief topic was the offer made by
the United States government to med
iate between Mexico and Guatemala.
The prospect of the slightest inter
vention on the part of tho United
States has elicited very bitter remarks
from many public men and has caused
considerable excitement among the
people. The war fever runs so high
that any power trying to avert it mnst
reckon with the hostility of public
opinion. In the streets and places of
popular resort there is but one senti
ment and that is in favor of Mexico’s
settling her differences with Guatema
la, once for all, without toleration of
outside influences.
The newspapers want war. They
denounce Guatemala as impudent and
contend that she must be humbled be
fore there can be any certainty oi
peace. The report that Guatemala,
Nicaragua and Honduras have formed
a triple alliance for offensive and de
fensive purposes is discussed with
many ironical comments on the impo
tence of these small states. If Mexico
takes the field with her army, the
newspapers say, she might as well
fight all three as any one of them, as
it would be no harder to beat them.
The impression prevails that it has
been considered and that Mexico has
demanded the instant payment of the
$1,800,000 indemnity, which, if re
fused, will mean war.
Offers of mediation by th6 United
States government will not be consid
ered, as Guatemala has already settled
the question at issue by the treaty of
1882, which she now tries to repudiate.
From 1823 until 1882 some territory
was in dispute, but the treaty settled
the limits once for all.
Guatemala has 50,000 troops, with
good mounted artillery on the border
of the state of Chiapas. The Guatema
lans are mortgaging and turning over
their coffee estates to Germans and
Spaniards, so that in the event of war
President Barrios cannot levy for loans
upon them.
Another cabinet council was held
later, presumably to consider Guate
mala’s reply to Mexico’s final demands.
The nature of this reply has not been
revealed, bnt the general understand
ing is that Guatemala is merely fen
cing for time.
The only positive clue to the gov
ernment’s position is found in the
government’s small-arms factory where
work is pressed forward with unflag
ging energy every hour of the day
and night.
TELEGRAPHIC BREVITIES.
At a meeting of the Actors’ union,
at Boston, the action of United States
Judge Wood, of Chicago, in sentenc
ing E. Y. Debs for contempt was con
demned.
The government of Sweden and Nor
way has signified its willingness to al
low its minister here to serve as a
member of the Venezuelan cliams
commission, in place of Senor Romero.
A St. Petersburg cable dispatch
states that M. Shishiskin, who was as
sistant to the late M. DeGiers, minis
ter of foreign affairs, has been ap
pointed to suceeed the latter tempo
rarily.
The civil service commission at
Washington will hold examinations
on February 14 for the office of library
clerk at a salary of $840 a year, and
on February 14 and 15 for library cat
aloguers at $1,240 in department of
agriculture.
Three judgments amounting to $100,-
653 have been filed at New York
against the Fifth Avenue Transporta
tion Company, limited, in favor of the
following creditors: August D. Shep
ard, executor of Elliott F. Shepard,
$40,403.18; August D. Shepard, $27,-
816.68; Margaret L. V. Shepard, $32,«
662.76.
Fairview Seminary at Gaithersburg,
Montgomery county, Md., has been
burned to the ground. The young la
dies in the upper stories of the institu
tion had only a moment to gather up
their dearest belongings and hurry
down the steps. Some, however, saved
nothing from the flames. There were
no casualties.
THE STRIKERS FAIL
And the Street Car Trouble at Brook
lyn at an End.
Thq strikers at Brooklyn, N. Y.,
have practically surrendered to the
companies. A formal statement to the
public was issued by the executive
committee and the men tendered their
services to the presidents for $2 per
day for motormen and conductors and
$1.50 per day for trippers. These
terms have never been in dispute. The
men say that the move is made in the
interest of public safety and quiet and
that the non-acceptance of their offer
will be followed by another specifica
tion for peremptory mandamus against
all the lines. The presidents will prob
ably adhere to Iheir former position of
refusing to treat with their men in a
body.
The Vice President in Washington.
Vice President Stevenson and his
son arrived in Washington Sunday
morning from Bloomington, IIL,whera
they attended the funeral of Miss Mary
Stevenson last week. Mrs. Lewis Ste
venson is slightly improved, but she