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-r-rintion now outstunding added
tfcis j-jiiied States notes still undimin
S’Wr redemption or cancellation coa
a volume of $5o0 gold obligations
\ns to nearly i.OO.iKiO. These
I B,oUD t are the instruments which,
„- e have had a gold reserve,
Ksen used to deplete it.
TlllS . ILoprve. as has 897,911,330. been stated, It had
-n toril.1893, to has
^“that i°" 1 ^unimportant time to the upward present, present, movements, w: with very
.n-aiiu Bssrsam -.-j as bas been
the sale of
:3llS ;,nsequence of these conditions the
u reserve 011 the first, dfl Y of February,
^'more . V , IS reduced to Slid,433,377, having
<?:'“ than $31,050.00.) during the pre
n i n e months, or since April, 1893.
re ulenishment being ncessary and no
5 her manner of accomplishing had it being
ible resort was to the issue and
, nf bonds, provided for by the resump-
16 act of 1875. Fifty millions of these
0) I* were sold yielding the $58,733,295.75
Rjthen --. u was added to reserve fund of
on hand. As a result of this op
PLj this and reserve large withdrawals which had suffered in the
s !atime, -taut stood|on the sixth day Alarcb,
4at the sum of of $107,455,802. Its de
i um was, however, immedi itely there
•Jso accelerated that on the 30th day
%ne 1894, 1894, it it had had fallen fallen to to $64,873,025, 00
L losing by withdrawals more than
m 009 00) in five months and dropping
rujy CloO tfoO.OOO below in its bonds, situation was effected when the for sale its
feifdepressed the 24th day condition of November grew 1894, worse,
!ld -Jon our
reserve being reduced to $57,669,701,
[became L necessary to again strengthen it.
was done by another sale of bonds
Ire 1,minting to $50,000,000, from which
f was realized increased $38,538,500, $111,142,021, with which
e fund was to on
L jnomtme'nt 4th day of December 1894, again dis
awaited the anxious hope for
iSjef. Between 1895, period Dec. 1st of 1894, scarcely and early
.Feb- months a after the second more rein
U a n two
fccement of our gold reserve by the sale
-flxmds. it had lost by such, withdrawals
•ore than $59,000,000 and had fallen to
Kdrawn El 340.181. within Nearly the $43,000,000 month immediately had bean
111 "receding ‘in anticipation tins situation.. of impending trouble, I
III 'id on Jan. 28, 1895, addressed a commu¬
tation to the congress, fully setting
forth our difficulties and dangerous posi¬
tion. and earnestlv recommending that
be given the secretary of the
to issue bonds bearing a low rate
•[interest, payable of maintaining by their terms sufficient in gold,
the purpose for a
mid reserve, and also the redemption
cancellation of outstanding United
notes and the treasury notes issued
purchase of silver under the law of
This recommendation did not, how
meet with the approval of congress.
la February, 1895, therefore, the situa¬
was exceedingly and critical refusal with of a jre
perilously aid everything low a ind icated that con
end of gold payments by the govern
was imminent. The results of prior
issues had been exceedingly unsatis¬
and the large withdrawals of gold
succeeding their public sale
open market gave rise to a reasonable
that a large part of the gold
into the treasury upon such sales
promptly of drawn United out States again by the
notes or
notes and found its way to the
of those who had only temporarily
with it in the purchase of bonds.
An agreement was therefore made with
(number of financiers and hankers where
it was stipulated that bonds described
toe thirty resumption act of their 1875, payable bearing in
years after date,
at the rate of 4 per cent, per an
and amounting to about 162,000,000
be exchanged for gold, receivable
weight, $65,000,000. amounting to a little more
gold was to be delivered in such in
as would complete its delivery
about six months from the date of
contract, and at least one half of the
was to be furnished from abroad,
also agreed by those supplying this
that during the continuance of the
they would by every means
power to protect the government
gold withdrawals.
the day that contract was made its
were communicated to congress by
executive message, in which it
stated that more than sixteen millions
would be saved to the govern
if gold bonds bearing three per cent,
were authorized to he substituted
those mentioned in the contract. The
authority having declined to grat the ne¬
to secure this saving,
contract, unmodified, was sarried out,
in a gold reserve amounting to
on the 8th day of July, 1895,
performance of this contract not only
the reserve, but cheecked for a
the withdrawals of gold and brought
a period of restored confidence and such
and quiet in Dusiness circles as were
greatest that affected possible value to every in¬
had the slightest our misgiving people. I have
as to
wisdom or propriety of the arrange¬
and am quite willing to answer for
full share of repsonsibility for its pro¬
I believe it averted a disaster the
of which was, fortunately, not
time generrlly understood by our
the contract mentioned stayed
a time the tide of gold withdrawal, its
results could not be permanent. Re¬
withdrawals have reduced the re¬
from $107,571,230 on July 8, 1895, to
How long it will remain large
to render its increase unneeesary
large a matter of conjecture, though
withdrawals from shipment
immediate future are predicted in
informed quarters. About $16,000,000
been withdrawn during the month of
foregoing statement of events and
develops the bearing fact that bonded after in¬
our interest in¬
more than $162,000,000 to save
gold reserve, we are nearly where we
having now $65,438,377 in such in reserve February, $79,
when as against
the first bonds were issued.
am convinced the only thorough and
remedy for our troubles is
in the retirement and cancellation
our United States notes, commonly
greenbacks, and the outstanding
notes issued by the government
of 1890. of silver purchases this could under be quite the
I believe
accomplished by the exchange of
notes for United States bonds of
as well as large denominations,
a low rate of interest. They
be long termed bonds, thus in¬
because there desirability as investments,
their payment could be well
to a period far removed from
financial burdens and perplexi
when with increased prosperity and
further thdy would be more easily met.
0 insure the cancellation of
notes, gold and also provide a way by
may be added to our currency
U of them, a feature in the plan
should be .111 authority given to the sec¬
retary of the treasury to dispose of the
bauds abroad for gold if necessary to com¬
plete the contemplated redemption and
cancellation, proceeds permitting him to use the
a f such bonds to take up and can
cel any of the notes that may be in the
treasury or that may be received by the
government on any account.
While I have endeavored to make a
plain statement of the disordered condi¬
tion of our currency and the present dan¬
gers menacing our prosperity, and to sug¬
gest a way which leads to a safer financial
system, I have constantly.had in mind the
fact that many of my countrymen, whose
sincerity I do not doubt, insist that the
cure for the ills now threatening us may
be found in the single and simple remedy
of the free coinage of silver.
They contend that our mints shall be at
once thrown open to the free, unlimited
and independent coinage of both gold and
silver dollars of full legal tender quality,
regardless of the action of any other gov¬
ernment and in full view of the fact that
the ratio between the metals which they
suggest calls for one hundred cents worth
in the gold dollar at the present standard,
and only fifty cents in intrinsic worth of
silver in the silver dollar were there in¬
finitely duced stronger reasons than can be ad¬
for hoping that such action would
secure for us a bimetallic currency.
Moving novel and on hazardous lines of parity, an experiment
so as that proposed
might well stagger those who believe that
stability is an imperative condition of
sound money.
In conclusion, I especially entreat the
peoples’ representatives in the congress,
who are charged with the responsibility of
inaugurating measures for the safety and
prosperity of our common country, to
promptly and effectively consider the
ills of our critical financial plight.
I have suggested a remedy which my
judgment approves.
I desire, however, to assure the congress
that I am prepared to co-operate with
them in [perfecting any other meas¬
ure promising thorough and practi¬
cal labor relief, and that I will gladly
with them in every patriotic endeav¬
or welfare to further the interests and guard in the
of our countrymen whom our
respective places of duty we have under¬
taken to serve.
Lynching of Italians.
Italian The deplorable laborers in lynching Colorado of several
was nat¬
urally followed by international happy repre¬
sentations. and I am to say that
tbe best efforts of the state in which the
outrages occurred have been put forth to
discover and punish the authors of this
atrocious crime. The dependent families
of some of the unfortunate victims invite
provision by their for deplorable their needs. condition gracious
These nia.nifestations against helpless
aliens may be traced through successive
stages to the vicious Padronia system,
which, unchecked by our immigration
and contract labour statutes, controls
workers from the moment of landing on
shores, and farms them out in distant
and often rude regions, where their
cheapening competition in the fields
of bread-winning toil brings labor them into
collision with other interests.
While welcoming as we should those who
seek our shores to merge themselves iu
our body politic and win personal com¬
petence by honest effort, we cannot regard
such assemblages of distinctively alien
laborers, hired out in the mass to the
profit of alien speculators and shipped
hither and thither as the prospect of gain
may dictate, as otherwise than repugnant
to the spirit of our civilization, deterrent
to individual advadeement, ‘and liindran
ces to the building up of stable commit¬
tees resting upon the wholesome ambi¬
tions of the citizens and constituting the
prime factor iu the prosperity and pro¬
gress of our nation. If legislation can
reach this growing evil, it certainly should
be attempted.
[Signed] Grover Cleveland.
AFTER BANK WRECKERS.
Indictments Found Against Men of
Wealth iu Oklahoma.
A great sensation has been created
in Oklahoma Territory over the grand
jury at Perry returning indictments
against prominent men, who are
charged with wrecking the bank in
that city.
Four indictments each have been
found against J. V. N. Gregory, who
is a many-times millionaire of the
state of Aliehigan, and whose name
has been used as the bank’s president
since the opening of the Cherokee
strip; Fred W. Farrar, cashier of the
late Firpt State bank; Fred Gum, a
clerk in the bank, and L. Aferry Rich¬
ardson, Jr., who was formerly cashier
of the First State bank, which was sold
out to Farrar, Gregory and others last
June.
Richardson is rich and well known in
the west, aud is the son of L. M. Rich¬
ardson, Sr., who is the wealthiest man
in Oklahoma, and was the prohibition
candidate for governor of the territory
and is now democratic national com
mitteeman. The indictments are for
receiving money ou deposit in the
bank when it was in a failing condi-
tion.
ANOTHER TRIAL FOR HILL.
His First Trial Cost the State About
$ 7 , 850 .
The second trial of the case of the
state of Nebraska against ex-Treasurer
J. E. Hill and his bondsmen before
the supreme court began at Lincoln
Monday afternoon in the senate cham¬
ber. This is a suit to recovor §236,000
state funds lost in the failure of the
Capitol National bank.
This is the first case ever tried by a
jury in the supreme court of Nebras¬
ka. Hill’s first trial occurred last
May. It consumed about two weeks,
cost the state about half of the §15,000
appropriated for its prosecution by the
legislature, and resulted in a disagree¬
ment.
Three Children Roasted
While securely locked in a cabin on
the plantation of Air. W. A. Ansley,
near Forsyth, Ga., three negro child
ren were roasted alive. The mother of
the children, Georgia Ann Head, left
them usieep while she went to the lot
to milk the cows, lockihg the door be¬
hind her.
HOLD A CAUCUS.
REPUBLICANS AND DEMOCRATS
NAME HOUSE OFFICERS.
The Alan From Maine, However, Will
Wield the Gavel.
The democrats held their caucus at
the national capital Saturday after¬
noon and unanimously renominated
Judge Crisp as the minority candidato
for speaker. There were sixty-two
democrats present and when Air. Crisp
arrived upon the scene he was received
with cheers.
All the other old house officers were
complimented with a nomination, but
the matter of selecting the democratic
whip and doorkeepers to be held un¬
der the republican organization was
allowed to go over for a few days.
Judge Culberson, the oldest demo¬
cratic member, was made chairman of
the caucus, Amos Cummings stepping
aside in his favor. Air. Richardson,of
Tennessee,in nominating Judge Crisp,
said:
( i Mr. Chairman : The very pleasant
task has been given me of placing in
nomination for speaker of tbe bouse
in the fifty-fourth congress a gentle¬
man who is my warm personal and po¬
litical friend. In doing so I will only
give utterance to a few sentences for
which I alone am responsible. It goes
without saying that this gentleman has
already been named for the position
in the hearts of all of us here assem¬
bled. When the fifty-second congress
was about to assemble just four years
ago there appeared in this chamber
240 of the chosen representatives of a
hopeful and triumphant democracy.
Then it was after a sharp and brilliant
contest the gentleman I am to name
was placed in the speaker’s chair.
Two years later, when some 215 mem¬
bers of our party met here for a simi¬
lar purpose with tbe experience of a past
congress to guide us, with full knowl¬
edge of his capacity and ability,he was
byunaimous action and with hearty
chosen our leader.
We come now a small band of patriots
to say aga’n he is our choice for this
elevated office, but we recognize the
fact that this time our declaration is
impotent. This is not the place nor
the occasion to inquire why this is
true. I will be pardoned, however,
for saying I do not believe it is because
those who have stood by democratic
principles in the past have deserted
the faith ard embraced the cause of
republicanism. Today, without a doubt,
a majority of the American voters are
democrats, and if the white men of the
country alone are estimated, there is
no question but that our party has a
majority of more than a million vot¬
ers. No true democrat need then de¬
spair, nor give up the ship. Onr
party in the past has laid to sleep in
forgotten political graves each party
in. turn which has contended against
it. I have an abiding faith it will yet
do the same thing for its present
strongest and greatest rival. To do
this we must cause the strife to cease
within our own family, choose for our
leaders such fearless and patriotic
democrats in all the states and districts
as I am about to name, inscribe on our
banners genuine and time-honored
democratic principles; lay aside all
new-fangled doctrines and in the lang¬
uage of the good book, ‘avoid foolish
questions and contentions, knowing
that they do gender strifes and are un¬
profitable and vain.’
“Continue the struggle for reduced
taxation, for cheaper clothing and
supplies for our people, for broader
and wider and better markets for the
products of our fields and manufac¬
tures, for economy in our public ex¬
penditures, for simplicity in our gov¬
ernmental affairs, for real reforms iu
legislation, for home rule, for an am¬
ple circulating medium for our com¬
merce and trade, for sound money—
the gold and silver coinage of the con¬
stitution—and democracy will be again
triumphant, and our country will
stand forth redeemed and regenerated.
I name for speaker of the house of
representatives in the fifty-fonrth con¬
gress, Charles F. Crisp, a representa¬
tive from the state of Georgia.”
Air. Richardson’s speech was ap¬
plauded and Mr. Crisp was unanimous¬
ly elected.
Mr. Catchings, of Mississippi, then
placed in nomination the following
gentlemen: Clerk, James Kerr, of
Pennsylvania; doorkeeper, A. H. Hurt,
of Mississippi; sergeant-at-arms, Her
man W. Snow, of Illinois; postmaster,
John T. Ross, of Aluryland; chaplain,
Edward B. Bagbv, of Virginia, and
they also were unanimously elected,
whereupon the caucus adjourned.
Reed Will Be Speaker.
The scene around the chamber of
the house of representatives Saturday
night, when the republicans met in
caucus, was an animated one. As
early as 7 o’clock all the approaches
leading to the house were filled with
crowds of people who desired to par¬
ticipate in the excitement. That the
members themselves were deeply in¬
terested was evidenced by the large
number who were present on the floor
a full hour before the caucus met. As
these gentlemen arrived they visited
the headquarters of their respective
candidates. It was apparent that if
the number of callers at the several
headquarters was an indication of the
strength of the various candidates the
combine had the call.
As 123 votes were sufficient to elect,
even if the entire 244 republicans
were present, it was plain that the
leading members of the McDowell
Glenn ticket were certain of enough
votes to win on.the first ballot.
The caucus settled down to work
promptly at 8 o’clock with Mr. Hook
er, of New York, the secretary of the
caucus, in the chair. The first test of
the relative strength of the McDowell
ticket and its opponent was shown in
the vote on the election of chairman of
the caucus. Mr. William A. Stone, of
Pennsylvania, who has been the prin
cipal manager for McDowell and those
associated with him, nominated the
veteran Ohioan, General Charles H.
Grosvenor, while Mr. Dolivei, of Iowa,
who represented the Henderson forces,
proposed the name of Mr. Henderson,
of Iowa. At the conclusion of the roll
call the vote stood 155 for Grosvenor
to 73 for Heuderson. This showed the
presence of 228 members and it dis¬
closed the fact that the McDowell
forces had not overrated their strength.
Mr. Hopkins, of Illinois, placed Mr.
Ellis, of Oregou, in nomination for
secretary of the caucus of the fifty
fourth congress. Mr. Mercer of Ne¬
braska, nominated Mr. Hooker,. of
New York. Mr. Ellis was elected by
a vote of 139 to 77.
On motion of Air. Grow, of Penn¬
sylvania, Thomas B. Beed, of Maine,
was nominated for speaker and elected
by acclamation.
On motion of Air. Payne, of New
York, a committee of three was the ap¬
pointed to conduct Air. Beed to
hall.
Air. , r „ Beed, , on entering , . the ,. hall, . ., was
loudly applauded. Tuning a position
in the area before the presiding offi¬
cer’s desk, he said:
“Air. Chairman and Gentlemen—
For the honor which you have confer
red upon me, I tender you my sincere
thanks. I am, however, not 111 the
least liable to confound with my own
personality this tribute of your kind
ness. I had once the good lortune to
be so placed that I represented fts well
as I was able the patriotic sense of a
great party, and it is to that patriotic
sense of our party that you render the
tribute of your matured, as you did
your temporary, approval. History
will accord us praise for what we did
in the fifty-first congress, and it may
accord us its praise in this for what
we do not do.
“We have a
government, which usually leads to
small results. But there are times
when rest is as health-giving as exer
cise. We must not forget our first
and greatest duty is to do all we can
to restore confidence to business #n(l
that we must avoid all business legis
ti°u except in the direction of improv
ing both. Rather than run risks we
can afford to wait until well matured
plans give us assurances of permanent
benefit. Crude aDd hasty legislation
is above all things to be shunned.
“Could we cause our immense popu
lar majority to overflow into other
branches of the government and could
we have full control, we could create
not a perfect world perhaps, but a
world rather more fit to live in than
we have lately had. .
“Even as things are I do not for a
moment doubt t hat, our patriotic in
stincls will lead us to make every sac
rifice except of principle to rescue our
ci,uu try from its temporary disaster.
Notonly have we been elected by the
overwhelming vote of the people as
their servants, but as a house of repre
sontatives of which we are a majority.
The right to initiate taxation of the
people is by the constitution placed iu
our hands as a sacred trust, which we
have no right to surrender and which
all parties, however they differ on
other things, will assuredly maintain,
“That we shall be ready at all times
to furnish adequate revenue for the
government according to our sense of
public duty no man can doubt. This
is the great nation of the hemisphere
and while we have no desire to inter¬
fere with other nations we shall main¬
tain our position here with firmness
and self-respect and at the same time
with careful consideration of facts and
conservatism of action which shall
leave no bad question to trouble our
future. In this I trust the whole gov¬
ernment in all its branches will be in
accord with each other and with the
people.” presented Air.
Two gavels were to
Reed, one by Airs. Foss on behalf of
the Hamilton Club of Chicago, made
of cherry and apple wood from Ash
land, Ky., and one by Air, Hilboru,
of California, on behalf of the third
district of California, made of wood
from Farragnt’s old flagship, Hart
ford, now rebuilding at Alare Island
navy yard. Reed accepted each one
in a separate and thoroughly charac¬
teristic speech of thanks. He
retired from the hall.
With Mr. Reed’s departure the work
of placing the candidates for clerk in
nomination began. Air. Dalzell, of
Pennsylvania, presented the name of
Alexander AIcDowell, of Pennsylvania,
and Air. Cannon, of Illinois, perform¬
ed a similar service for his late col¬
league, Air. Henderson, of that state.
The roll was catted and Mr. McDowell
was Benjamin elected by F. a vote Bussell, of ^54 of to Missouri, 74.
■was elected sergeant-at-arms; William
J. Glenn, of New York,was nominated
for doorkeeper over Mr. Linney, of
North Carolina, by a vote of 168 to 64;
Joseph C. McElroy, of Ohio,was nom
inated for the postmastership, and
Rev. Henry N. Conden, a blind cler
g.yman of Michigan, was selected as
chaplain.
After the transaction of some minor
business the caucus at 1:15 o’clock a.
m - adjourned after a continuous sea
»?ion of more than five hours,
ATLANTA’S BIG DAY.
One Hundred Thousand People Visit
the Exposition,
Nearly 100,000 people saw the fair
a t Atlanta Thanksgiving day, and when
the day was done that number of peo¬
ple returned to the city to tell their
friends that the Piedmont exposition
had been eclipsed.
South Carolina carried the day.
Her conquering army paraded the
streets, captured the city and stormed
the exposition. The crowd that came
into Atlanta from the Palmetto state
was the largest that has ever been sent
from one state to the exposition.
Twenty trains, consisting of from eight
to ten cars each, came in loaded to the
ptatforms. will be banded down
Inman day annals aa
the most memorable day in the
of Atlanta.
This return to the city was made in
a mighty rush. The most imaginative
mind could not picture the scene
Thursday night after the grand display
of fireworks, when the great throng
strived'to make its way to the trains.
It was a bigger rush than any one had
expected—than J_ any one had prepared
{ md tbe might y host surge d and
pushed in vain effort for release.
It was early Friday morning before
the exposition grounds were deserted
and all the visitors had been transport
ed to ^ oit
The Thanksgiving app etites of the
vt wero nQt satiefied during the
ftnd Rt abont 7 O > clock in the
^ ever y t hing on the grounds
suitab]e to sa ti 8 fy gnawing hunger had
been exbftUfded . Not a restaurant on
h undfl cordd accommodate those
e afld thousands turned
who ca]led were
J wearied and hungry .
TRAIN WRECKERS AT WORK.
A Smasli-up on the New York CentraL
Two Men Killed.
The deliberate wrecking of fast mail
train No. 6, eastbound, on the New
York Central, was accomplished about
three miles west of Rome, N. Y., at an
ear]y bour Tnesday morning. The
wre ckers had broken open the com
pany > 8 toolhouse nearby and obtained
a wrenc h and crowbar with which
ad ^ be 8p jkes and fishplates from
tw<) oppo site rails on the south¬
er j y track had been removed.
qi be re i ea8ed rails were left in theii
place8 on the track. As the train,
oompr ising four mail cars and three
sleeping cars, came along, the loco
mcd i ve left tbe track, bounded over the
ties and fe]1 8 j de wise into a ditch
twe j ve f eot dee p on the south side of
^ be t rack>
The g rs t mail cars shot over the
eDg i Iiei the first one landing fully sev
enty-five feet from the point where the
eng j ue l H ffc the track. The second and
third mail cars came together in a “V”
B fi ap e and the wreck of the engine lay
j n j_ be open 8p ace between them. Un¬
der the seoond mail car, pinned down
by a pft i ro f trucks and ctone dead,was
f 0)lnd Engineer Hager,
Robert Elliott, a tramp, died after
being removed from the wreck.
The first two sleepers were partly
turned over and tlii* last one remained
ou tbe tracks. Strange to say, the
^ w0 j 00Re ra il 8 bad not been thrown
f rom the road bed, the last car rook
t ng npon them. There were fifty paa
BeI jg e j. 8 j n the three sleepers and not
one them was hurt,
MINE CAVES IN.
Eleven Men Crushed to Death by Fall¬
ing Rock.
A special from Brewster, N. Y.,says:
Nineteen years ago fifty tons of rock
fell into the open pit of the Tilly Fos¬
ter mine, killing six miners and maim¬
ing three others for life. The six who
met their death were so horribly
crushed that their bodies were taken
up in shovels, thrown into canvas
packs and hoisted to the surface.
From that time until Friday the
banging walls, which rise 400
f ee t above the working level
G f the pit, have undergone daily in¬
spection. If this inspection revealed
any crevice or other sign of danger
work below was abandoned until the
threatening overhanging had been dis
lodged. Tbe extreme caution exer
<*ised prevented many accidents,
Friday afternoon about thirty men
were at work on the 400-foot level,
breaking ore and loading the cars sent
down by the cable. About 3:30 o’clock
the entire northwest wall, containing
probably over 100 tons of rock, fell
into the pit, killing not less than
eleven men and inflicting serious in¬
jury upon nine others. William As
pell and four others ran and escaped.
Five Italians also got out alive. The
cable and its cars were not injured.