Below is the OCR text representation for this newspapers page.

-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.