Newspaper Page Text
V0L.XLV1I. WINNSBO.RO, S. G, WEDNESDAY, JULY 19, 1898. ~~NO. 49.
s> taxes ox state banks !
POP r H? IR E.-RLY ABROGATION
Trie Spe-< 1? < ' >1. C Iiml -Pj lo I
Favur'ol Ihr Kpe:?l o! T-.X s on S :ttt> J
Hiiik C'iroul ?tlon I) ltvend ?? th?* j
I'uUtd S'H'm S'U?t>t.
[From th- Coiiurcs.-ional Record. J
The Secretary re^i '<iu rts>lorioni
submittal by Mr. Builer.
"lirsclveo, That the Committee on
Finance Us*, and n :s hereby instructed
to report a bill reje.liag all taxes imposed
by Congress on i nw circulation
of Stat*' banks of is-m? "
Mr. lii TLEi:. Mr. President, I pro -1
pcse to discuss this question in a spirit!
of perfect fiankut-ss, with no priue of
opinion, but with the sole objic: of endeavoring
to allorci rtlief to ttie people,
and with the hope of securing for it
fthat careful consideration so essential
to a clear understanding of the relation I
it. bears to the economic questions now
agitating the country. It, should not |
h" rtr>r:tpd hvthe Committee on Finance)
W of this body because som? ot its members
entertain views iu opposition to
ft the principles involved, or to the ends
B sought to be obtained. The people
jgL want the subject fairly and fully cousidered,
and tneir wishes are entitled 10
[Hp^- If ]t were practicable to ask every
W male adult in ttie United States whether
A in his opinion, the volume of o:ir-cfi>~|
^ rency is sufficient to meeS the reason-1
able demands of business, seven-teutbs,
perhaps ei?iit-tentbs of them, would
answer in the negative. And if the
same persons could be interrogated as
to whether, unuer our present iiuaa
^ *nri pnuita
ciai system, aicxc 10 <* ^
ble distribution of what currency we |
have, nine-truths of them would au-1
swer in tne negative. I mean by a fair
and equitable distribution, such a dis
t.ribution, as that every noaest man
would have it in nis power tcr procure
as much money as his credit andcir- ,
cumstances would jusrily, and he could
profitably use in his business aod domestic
SS&, According to our present tiiancial
policy the greater part ot the circulation
is peri >aieally drawn awav frotu
the people and horded ir? commerciai
and tinancial ceu;r?.?, to be let out
again upon such terms, in suca
amounts, and whenever those who 1
???u, As matters <
CUUtiUl it uiaj uvvvi ku?Mv> ? >
now go millions of ineu can not get
money for their le^itim^te business i
transaction?, however good their credit
or financial siandingc uecausethe currency
is not witnin their reaca, or u ,
witnin reach, is held witn sucn severs (
legal restrictums as in a lari^e meas-ire
to destroy its usefulness.
1 am not one of tncse dreamers who
holds th-it there can ever be an equal distribution
or wealth until th? nulle- 1
nium dawns upon us, or until intqual
itj in intellectual endowments and
business qualities is removed, but I do
believe uiat the Government may
irauc such laws as to give every man
t quality ot uppu/tumty in securing
lor himself the goods oL this world. J j
think 1 can demonstrate tnat this rule j
:s not ubser\vrt 1:1 our ex-sting laws. I
From a statement of the amounts of I,
gold and silver coins and certiucati-s, i
" L"n't:J States no\'8S a id oaiional bank |'
' otes, iu circulation May 1. 1892, it Ji
to?v \rH4-irrseen that the entire stocii or ;
Ss| money "coined and issued" by tne Gov-1'
b ernment for tne whole country is $2,-!'
H& 241,0%,694, otwhich sum 8627,524,-150j'
remained in '.tie Treasury, lravi .g $1,613,572
244 i - irculaUon. The :.mouut j
SBHhB of circulation per capita is put down <
at $24 72. DiViui.is lh- amount L
P| Claimed to be in circulation ($1613,572-'
\ 244>amoug our sixty-odd millions or .
mt population we should get that lvsuit, |
Iff but it is fair to assume that a part of ,
I? the amount said to be in circulation
KK||9f quite an essential part, is hr li ror re- '
BaSil serves in Oanks, audis.uotiu circuli- '
gpp tion. But let Uo concede that v H*ve '
agp $24.72 for each nun, woman, anu
in the United States.
W What does it. prove? Th i* Ha--1-' m m. j
f -woman, and chu'i rias $24.72. No-aiji
all. Nobody wot? i i-e simple-mm-ied j;
enough to claim luat. There a:e mi- j
lions of people who !?<ive not $2 or 2
cent-, much less 824 72 Tn<- staveineut
is therefore misleading -in 1 delusive.
iln certain sections ui ci.e couutry, in
the principal liaa^cn 1 and commercial
centers, the per cipi;a ciicutation
would reach up iut;? '.he huuureus of
dollars, whereas 1.1 oiher sections it
will not. amount 10 a hundred cents.
To illustrate by my owa county ot j
,n s'Aiirn i!nrnllna: We have i
a population of abcut 5U,UJU, largely
agricultural and rural, aud 1 vef1 lure
tne assertion there are not 62 per c-jpi
tn in circulation auiong ;t:e. people.
What is true of thisc >muiuiiity is true
of all others similarly situated in ilie
South aud West and Ihe Ea=t as well,
? outside of lia-mcui* centers.
* Mr. President, tri'j pt-Ofle luve not
money enough it> circulation iur rueir
. legitimate wants. This fid I waut to
etupkas'Z-, however goju their credit,
or sound and accep'able their security,
or urgent their demands, ihe mon?*y is
Tint in the country, is not accessible, or j
it accessible, is, I repeat, hedged about j
by sujh n-stiaiais of ihe iaw that it
may as well not Oe ioexisteuce. 1 kuu*' j
the reply to this line of argument is
that these conditions are the result not
so much of scarcity of circulation as
the scarcity of capita), the lack ot confidence,
because t^err* ^re not proper
^ inducements t ft'errd t*> attract ciouey,
}>ut,sir this is ntith?:r u-Mnole u :r true.
Id :nau\ <?i :lit* region? ot tke .*v?u.n aud
West, \v? re this stringency exists, itiere
is plenty ot capital, but iutle money.
Land is capital, and the safest and
soundestsecurity. Lw stock, personal
?.\ properly of va rus kinds, oeisoual
f > credi\ crops, are capital, but unavaila.
'-rjS ole to a great extent, as a basis ol credit,
because money is so scarce ana so doar
^ tor seven months oui <>f the twelve tney
t cannot r>e utilized. I might cue m my
cases within oiy own persouat Kuovvieu^e
BL and experience. to establish this prooosition
as n<> doubt other Senator-} arouud
B&, me can; but it cannot aud will not be
H 1 ^rant, you th it i;i t'.e are^l liuaj-ciul
centers monev is ahunduui aud rea-'ily
obta!ue.'i, but the a<;r cvi.uial p-puiatioD
cauuot procure it. except at t?:e m .'St
"S. ruinous aud exacting tatc. because the>have
uot such security as .s demanded,
thereby bavin.' th^ir pr iires* aud cumfort
aud leaiumaie development i;rea l>
retarded. Aud hi?I in proporsiou a?
tftey are tetarded at:ii jestraiued iu the
stiiue decree are ail other iudusmts,
ni'.cui. manuf ielurus;. audc>mu ercial,
L hindered and regarded.
..V.-.I . T .r.vvfvV"
J* ;s qu.te tee cusaoa: ui our public j
discussions 0**1 licaucial topics ?.<> launch i
orl'ioio libqubiilous c-u political ecouvmv j
^ and abstract prop*>!i'?us .uui ihe<>:e<. j
fefe- acd btloi; i iie practical a pools of itis :
jj|L subject. We hear a irreat dsal abou* j
the "fuuC-ioas ot mooey," vVtiai $.
^P?*-aioaevy "What, :-rt* ih>% o j ;ci>
LThis 13 ail verv lastruo'.ivtf ami iu- J
teresting ior cbetriaalres and school aien, j
and I would not discourage suo'j discus- t
sioys in a proper form, but here we have 1
to deal with an itren'tely p-aotlcil <pies \
tii?o.aii(i rnu-it see< uracil -al fai:'.s a'ld
condition* l*> i*ul:*e :mdcoa!rol oar ac- j
iion*. Ot cours-.: there are cerian
well-re o:n"zod. well defiled ['unda- '
mental principles of fijance
which can nevtr be saleiy disregarded
iq /laanciH] legislation, but a man of the
plaiaes- intelligence an-^ uidersiandinsj
knows what money hand what pit-poses
All m?n may not fullv comorMiend
the Tiu'it lac, that in order to attaints.
highest usefulness ana be safe
andtU'ectual in the hands of the neople,
money must have a souid. stah'e. aid
reliable bisis. his the du'.y of the lerislator
to impart those qualities to it.
But his(:u!y dof>3 not stop here. He
must see to il that the circulation of
money ^oes out to the neople in sufii- s
cient volume to satisfy the demauds of s
their business, and has in it an element,
ot elasticity* to m?et UDt>reseeo ti ianc'.al a
evifrunmpc %?? ?.h.<?v flpiip. ;
1 have asserted that oar volu ne of a
currency is uot adequate f >r our bmi- t
ness operations. I do uot deuy its s
souutiuK^s and stability, Ou;. I do d^oy 1
that uuder our preseut laws it his that ^
expansive c ipacity, it I m iy ine that ex- 1
prcssioa, so esseutiJ to progressive la
business developments. I believe I am ?
safe in say in * that ours is the only oae ^
ol the leading commercial nations or c
ihe world where thij elastic feature in t
rtle^natioDal currerujy is Wanted. The s
Imperial B^nk uf Germany is authorized
by Jaw, up^n well-detined conditions a
and within certaiu specified limits, to in- t
crease its circulation to counteract the c
damaging effects of tiaanuial stri igeacy
and distress. *
The Bank ot England aud the B ink f
r.P nra ontxrori ixrith CI fn I > k
yjx JL L u.i " > tu 4VMW . .?.
privileges, aud so with other national !"
system*, while in our ^omparativ-jlv '
yjuuj; country, rapdly increasing ia ?
population, material progress and di- p
velopment, wiih a proportionae increased
deman.l form)Q}y. oar nationil
bauks have no such authority to suoply ^
it. Tne Government, reserving to itself f
the power to issue currenc/, hal s between
the contention* of p >htic.*l par- s
ties, the demand an'l req lireui'jats of a
the.people on ihe one hand !h<* deuials c
of cipitalon the other, and thas trilles P
with ihe prosperity and progress ot lis &
citizens. I need not here, M'\ Prest- 1
dear, eoter UD>aa discission ot' our
oatiooal-bankiu; says em. Ir, is sutH ^
cieut tor my present pup;>se to cmcidn
three things ia regard to i'.. It has c
iumishe I to the people the .safest, soua J- ^
est, aid most uniform bias curre-jcy
ever vouohsaf-d ?o tneai, three run; t
esseutial elements ia every system of v
bank cu-reno'.; but. it is unstable, inide t
quale, and ineUstio, three other qualities s
equally important and indispensable. z
L;t U3 see if I am correct in this last
S:ace th3 pt33ige of lh3 naiiouil- t
hankuu> act, tbe amouut of national a
bauk circulivLoa has virie i fr?cu yen- to v'
year. Ia 0;io"o?r, 1SS2 raac'aeJ h'-rh 8
w:uer mark, an i am ;jied $3G2 S^O,- ?
I3t. Oi ll;v :6 i of March, 1802, it t
bad faii^u t?$?.72,533,762. i u>s? o! jS190
355 372 iu tea years, vjry nearly t
5200,000,000. This oatrac.ioa is srii; ]
on, fatliusr oa i ir- i-?r. vi Miv, s
L892, to $i&L0G7,089, and .nust evea- o
.uatlv wipe this carreaoy >ut of exis 1:
eoc~. <vaii3 our popu! r.i mi is i creas- v
i- ? v
n.r an:i Vie uetnauu i>r mjre m >aey ?
DeitiS accelerated -a that proportioo. I v
.hiuk. thsrefj'/e, [ a>u sirs; in 3 iviuj the s
unison*! b ink currency is iasufli;iftQt, *j
ii'i?tit)!rf. .-.ad ;.Li?i<t<<tic. I do uot forget
!.hiit this rtduo'.inu in t'ie aatiooal-bink '
jsirrea.:v has 0 joq ui^su-.'.iblv supplied t
t>y Treasury certificates bised on c nu iu j
Lhe Treasury?bu1 lis supp'.v, am)uut t
iu^ to ab jui $480,000,000, has tut b<*eu a
iqual to the coairactio-i aa-J iucreasi :^ fc
Ti:e United SUtcs cote3? greenbacks ?
?have recnamed about stationary at l
316.000.000, iu round numbers. If tiie t
naiioual-b.iRk currency cdoUjucs to 5
J: ?u ,^ v.Aft^ aiu i-kf
IlLLliLllSi: 1 L> UJ 5U ?U uui. ui v. j.. j
tsoce and we 3'uU have no pa,'if cur- ?
re-jcv except tieTr-a^ury ceriiacatDS E
*od irret-nbic'^s. I am sur>i it will uot be H
insisted by the most extreme contrac- j[
tioai>t or niouometalli&t that they will 0
prove a leqaate to the w^aats of the peo- t
Great stress is laid upsu the fact that t
90 pi cent, or thereabouts o the busi- e
p.ess of the coucitjy is transacted by F
checks or drafts or bills of exchange, c
and t'ie argument is deduced therefrom
that there is uo occasion for a lame u
volume ot curreucv. Here aiain, I submit.
ii a ?reat fallacy. 1
THm notver to pive a cheefc implies a ?
bank account,, a id is limited to thos- }
who have m mey to their credit. How ^
many millions of people are there who *
have never h*d and can scarcely hop* *
to have a b.iQk account? They must 1
have trie cash to discharge their obliga- *
turns, the currency t > pas? from hand to
tan<!, so that to them a bank is a f
s-aled vault, ana is of no use in their 1
daily' transactions, especially it' they t
are nor banks of issu-\ and are scuce
of currency. c
I could produce abundant proof, if s
necessary, toshov th ir, the country s
binks are not supplied with <:urrtn'-y 1
enough by half or mere than hair, to
meet the ?vants of the people who they E
could otherwise accommodate. And u
furthermore it can be shown that in [
those seasons ot' the \ear, when cnrren-! \
cy is most needed, *tht-y can not pr.>
cure it on any terms in sutlieifut qui'!- H
lilies. I know this is true in the S > ; h ?
<?nd doubtless in the West. If tils ts "
admitted, what should Congress do to *
correct the evil'? What is the plain E
duty of Congress in the premise? It is T~
not a sufficient answer to the cry of 1
distress which comes ur o us from all e
directions, to say that ? political
party will not do this or -because j!
the doing it might give the .jer party L
an at vantage in some election. Or e
that by failing to adont certain meas- *
ures of relief, the party f iiliu^r will ue *
Stronger iu particular sections of the v
country ? Will it do to answer this ap- ?
cea! for relief from the laboring and s
icuhistful cl isses. to sty, that it is ^
clamor iusti^ ited uy dera-igo*ues and 1
Riil'iva'td by ambitious politiciansy
Tnis would not be wise sti'.esm inslup, c
Mr. 1'iesident I-. is not only not wise. [
approacnes very close tj the verge s
;>t criminal nr^le.'t. 1
C A l"6E FOK COM P LAI NT.
As a rule tne p.-ople do not c )mp!ain s
without a cause, tor thf s ike of com- i
plaining. They realize thnr wants and t
necessities much better th in is sup- 1
posed. Their cries for financial relief i
amount now almost to a lamentation, j *
auu it' not heeded and act^d upon will j ;
swell into a load and irr-sis'.i^le de-j i
mand, which will assert itself in no | t
uncertain ni mn-r t* Th- ballot box.
VV'iW anrf m.t ?'.i - v.icr.iries mav I r
rise to the er-sr ol uit waves of popu- ;
lur agitati-w, oat they will b-coine :
time and n irmiess t^eoru-s beside the i
s'.orm of mdnfuan! protestations which c
will press tfiem aside lor more positive i
and rad'.i,-il m-Msur-s. e
Various pldus of relief have br-rn aad j 1
are being sjg^es'.ei. of them, i I j
"link, are mischievous and daneerons,
>ut they are all symptoms of das'ise,
>f popular discontent, and unrese.
rhewcomplaints of the people are net
nummary. They are well founded and
jased on a deep-seated cause. Our (ijancial
system "and policy is defective,
unjust, ruinous to large classes of the
people. It enables a few centers aud a
'ew persons to set possession of the
mrrency and hold it from millions of
,heir fellow-citizens upon their own
;erms. It enables them to hoard the
nouev of the country, and shv how
nueii of it shall go out, and upon what
,erras. You may say that this will be
;rue under any system, but the iinan;idl
history ot this country does not
iustain. the proposition. It was never
rue prior to 13?>3?when trie national
>anking systrm went into operation,
md the n-ttioaal government delegated
.0 a few persons the power to issue the
:urrency for all the people?except
ush as ic reserved to itself the exclude
right to issue.
' have no war to make on the nationtl
banks. I have concedrd their value
md advantages. They were valuable
lids to the government at the time
hey w^re organized, but they have
erved their purpose. They have been
he pampered pets of the government,
>nd after thirty years of existence if
hey can not stand alone on their own
nerits they should go uuder. The
government laid the strong a?rn of its
axinar Dower on State banks lor their
jenellt. it taxed the State banks out
>f existence; it destroyed them for the
lene'it of national banks. These laws
houl i nuvv be repealed.
I assume it can not be successfully
irgued that this tax b? Congress oil
he circulation of Stite banks is unconstitutional,
as the Supreme Court
ims held, in the case of Veazy l}.mk vs.
^enuo (6 Wall), that (Jongresi may em?loy
the taxing power to destroy?but
t is a question of very doubtful constiu-ionaltty,
w'fther Congress may u>e
hi taxing pjvver solely lor the puri03e
ot de$tr>ymg, and without the
aising of revenue oeing the incident or
?urpose ?f its exercise.
WHAT TIIK LAW REQUIRES.
The two sections of the statute unl6r
which this tax is imposed are as
Sec. 3412. Every national banking asDciatioa,
State bank, or S'.ate banking
ssociation, shall pay a tax of 10 per
ent. on the amount of notes of any
>ers-li, or of auv State bank or State
lauking association, used for circnlaion
and paid o it by them.
Sec. 3413 Every national banking asociation.
State bank, or b inker, or asociatioQ,
shall pay a tax of 10 per cent,
utlie amount of notes of any town,
ity or municipal corporation, pud out
I have not examiaed the reports of
he Treasury Department to ascertain
paether any revenue is collected under
he provisions of this 1-w, bat I feel
afe ia saying not one dollar goes into
tie public Tceisury fro'u triis source.
The 1 -iw, as was m ended, has simply
riven the objects of taxation out of
xisteoce ia tbe iuteres: of the nation,1
oaaks, and nothiuer is left upon
i'hich it can opsrate. It is a matter of
rave d >ubt in my miud wbe*her Couress
may coastiturioaallv do this.
B it let than p iss aal let us tarn to
hs inquiry as to what would be tbe ef
rhn r jnaoi it Haofr^n
he nntion-u bdnKsr1 By no me-ins.
ihe tendency iu national bankiog asociations
is to reduce their currency
r circulation to the lowejt po-sibie
i nit. If some other security is not
rovided for their circulation th^y
11 ist cease to e\"st bv operation ot 14 v
vnen the United S ares oonds hel 1 icr
ecuritv dre redeemed, arjd the 1 ist of
?-* ? - -i..~ 1 ul~ ,?n 1!iM7 I
nesw oeirjme uuc emu pajauic iu i.i
i?here is do indication that Conarress
vill substitute anything in their ste*d, i
ind this currency must therefore evenually
be withdrawn from circuit'ion.
?ossibly they may be continued as
:a:iks of discount and deposit, but not
,s circulation. I do not see, therefore,
iow the repeal of this tax is to all'^ct
he national banks. Will it restore the
it-ite batiks? Tnis will not necessariy
follow, but it will open the door foj
heir restoration it' the people of the
I tares desire them.
My own judgment is !ht; rehabitation
it' . he State banks of issue will meet
he demands of the financial situation
aore effectually and completely than
.ny measure that can be undertaken,
t would decentralize the tiscal alfdirs
if the country, localize them, and
iring abrat that 1'air and natural dis
ribution of money now d^ni^l under
he present system. It would enable
very man of credit anl stniin* to
(rosure, in his o wn vicinity, the money
:ecessiry for his wants.
I am fully aware of t.he argum ?11 lS I
irged a^amst State banks of issue, and
.dmit their force. Among other things
t is urged that the currency will not be
in/form and on that account incon anient
unH r*> to t.hfl hnliierS Of
he bank bill?;that "wild-cat" banking
vill take tbe place of the present uniorm
and safe system of national bankog;
that the security for the bank bills
fill be inadequate* and insufficient,
hereby entailing I jss upon the billlolders;
that exchanges can not be safe
y made and business in different secions
can not be conveniently transactd.
Tho^e who advance these argu eats,
Mr. President, lose sight of
everal important considerations which
hould have weijfht in determining so
mp jrtant a question.
T r* *-'aa u'o-ti thfl c?i rtnoo rvr linei.
JLIJ. UiO'J OVl>.UV\y vr*. ks vw?
tess of baukiuif h-is made gr^at profess
in the last thirty years; business
aethods hive been im >roved, and venures
then e ate red upon would not now
>e tolerated for a day in the busioess
. ':cl tiuaacHi .v.>rid Why? First, bense
of :nure accurate and superior
;rio?vl-d?y-t fj-con:l, because raiiro-ids
iud ihe tttle;rauh nave brought ousiless
iu-?n ioo juxtaposition, and the
oucn is fei'. from one end of the counry
to tseot.her?I nvght say from one
nd of the civiiized world to r.ne other
-we now have no frontier. Riilroads
.nd the lel-graph have obliterated that
irld for ".vild cat" banking, and such
mterprises would dad neither home
lor naoitation icr toeir operauuu
i?csi les these general considerations,
vny can not the States be trusted to
irovide restrictions lor banking as
tringent and safe as thos- of the Notorial
(J jvermaenc upon national
The same supervision m ly he exer
ised, the same or similar rul-s as to
eserves, liability of stockholders, th-i
me or siuatltr methods for trie proi^c- j
1011 of biii-n >lders, maybe imposed.
A'hy mty not the .^tate provide tnat
own nouns. >i it nas any, huu n iw , j
luh Avll-recu^niz^d solvent bonds as j
t, may designate, may t>e us'-d by State j
>anks as security lor *.h-ir rircuiation V
rtiis woul i have the double elTectot'
iiiproviutr the credic of the S;aie. reaming
capital for invest.meat within j
is own borders, and at the same tim;-;
'umishinff a safe security lor theeir-j
rulatio-i necessary for the people.
Clearing houses, as now e vployed by j
latioaal banks, could be mstituted fjr |
>tate banks. They would t-ni'orce trie j
^rearest conservatism ia bank mauaiiejient,
and impart to the State; bank
:urrency a qua!iry of safety and seeurty
that wouid cause it to circulate gen
T;uiy w'lfOU'j restrainu >v u.v ? >uu* u t
t not? A S* ite could not; aff >rd 10 !
>ermit loose and reckless b-mkiog. j
Every sentiment of interest and State
pride would forbid. Every consideration
of prudence and business experience
wouid make such a thing intolerable.
1 cau recall the fact that the bilis
of many of the banks of sovtii Carolina
and other S:ates, for years prior
to year lstfl, pissed current in all parts
of the country without question, be
cause it was known they were managed
prudently and conservatively, and we
snouid have a similar exDerienc* if
they were revived.
liar, Mr. President, 1 a n not so much
concerned about the want of uniformity
in State-bank circulation. This
q uslity, this lack of uniformity, has its
advantages, which, I think, outweigh
the disadvantages. It would result in
bringing the currency baci to the locality
from which it emanates, there
to be employed by the people in their
local wants, and in that way correct
the evil to which I have referred of ac
cumulating the currency in remote centers,
from which it can not be recovered
by the people who must have it,
except upon hard terms. 1 care not
haw much you increase the volume of
currency under the present system,
this same evil will confront us. ithis
same ruinous ebb and flow of money
would obtain whatever the volume
of currency. For the sake of argu
meat I will concede that the Statebank
currency may not be uniform,
but it will answer for all local business
The insolvent laws, the divorce lawi
the inheritance laws, the testamentary
laws, the laws of evidence, the jury
laws, the crimioal laws, the road and
corporation laws, of the several Sta:es
are not uniform, and yet the whole
country has prospered and progressed
unH nnHor thom Th ic t.hiQ
I*UU UV ? UUU^li VUUUil AU iw
divergence of local State systems and
uniformity of the paramount Federal
system which gives such strength to
our fabric of Government. I, therefore,
do not regard uniformity so essential,
although I believe a few years
of prudent management wouid remove
whatever of inconvenience that might
arise from this source.
But why depend upon State-bank
circulation to regulate exchanges between
the several States or for the convenience
of travel to and from different
parts of the country V What is to
become of the one thousand six hun
uteu UHinuus ui uauuuai uuneutv uuw
in existence? Is that to be destroyed
by State banks? Why can not this
currency be used as at present in the
matter of exchanges between the
States if the State-bank circulation
could not be made available for that
purpose? This currency may ?ventu illy,
be reduced by the amoun* of the
uarional-bank circulation. but that
amou uts *o only 8168,000,000. So that.
I apprehend no trouble iu conducting
our business transactions in the several
Spates, not only for the reasons I
have just assigued but for those given
in another pare of my remarks.
SETTLE THE SILVER Q UESTION*.
I believe, furthermore, that the rehabilitation
of State bmks would set
tb all cjQT-roversies over the s'.lv r
question. Whether they are reestablished
or mt, I have no doubt bat that
free silver coinaje nny 09 safely resumed
by the a iverameot on the preseot
ratio, ani I shouli cheerfully vote
r.)'- a b'll for tha* purpose, but I shall
not now snfer upon a aiscussion of
that, question, further thaa t > say, that
in mv opinion, tne importance of free
and unlimited coint28 of silver is
greitlv ex;iumerited by bith sides of
tne controversy. It woald not brin?
the r^Hef claimed by its advocates, and
w-mld not do til* damage contended
for by its opponents. That, good would j
reside to the whole b ->dy of the people,
T hnve no doubt, and I, therefore, fa- |i
vor it. Ii.it that it will relieve the financial
stringency und^r which we are
laboring, or cure the evils complained
of, 1 ?lo not believe.
The free coinage of silver would el
I n-iate the aistiess very greatly, and do
no injury to any fair minded, honest
man, 1 care not what form of contract
he may have entered into. The suggestion
that it would drive sola out of
the country or operate as a repudiation
of obligations is, in my judgment, without
substance or foundation.
Whtn State banks were in existence,
silver and gnl * coin were used on
teruis <JI pfjfiKt:'. equality as scuuiiby
for tbeir circulation. Nubody ever
questioned their equality, when they
bore exactly the same relation to each
othf-r, that they do to-day. Xobody inquired,
or c.ired to inquire, in those
days. So long as the banks had coin,
whether of gold or silver, to support
their circulation, confidence was assured,
and ivhen it became necessary,
under financial stres3, to suspend
specie paymei.t, no preference was
given to the one coin or the other.
Mr. Coke. Will the Senator allow
me to interrupt him light there V
Mr. Butler. Certainly.
Mr. Coke. I ask the Senator if we 1
had the free coinage of silver would it
not be a great auxiliary to the appliances
for establishing State banks in giv- i
ing them a coin basis? :
Mr. Butler. I am just coming to
tSif \fr Pcjctrianf- In mw rtwn Sf~.fl.tft
an1 doubtless in others, backs were al- (
lo wed to issue three dollars of paper
for one of coin, of gold or silver, and
even with this latitude they main- .
tained their credit, when prudently
managed, and supplied a currency that
proved adequate for ail business purposes...
Ot course this latitude would
not be admissible at che present day;
would not be expected, and would not \
be aUo.ved, but a plan of redemption
could be required that would make the
holders of State-bank bills as secure as
the holders of national-bank bills. The
free coinage of silver would enlarge the
metal money of the CD..nlry, and thus
lurni.sh to the bauks whatever of coin
mtgbt be required for their reserves,
give employment to all the silver that
could be coined, and injure nobody.
The simple truth is that metallic cur
rency is "only til; to be used as a hank
reserve or as security for circulation,
except so mucu as m ty be necessary
for actual circulation, and this amount
is ne^ssarily very limited.
I repeat, therefore, that the repeal of
this t-.ix ami reestablishment of State
bauks of issue would settle all controversies
over the silver questoi If I
could get an intern itioual monetary
arraneement so much tbe beUer, but
the best, wav to bring about an international
arrangement is to restore silifur
in Thin n uinfrv to ir.s lfcJ'ltim-ii'e
sphere or Ire- atid urjlimited coinage,
with full le^.d-teutfer po.ver.
THE CASK OF SOUTH CAROLINA.
After a discussion of the constitutional
aspect ot the tree bank question,
Senator Duller procet-d^d:
And now, Mr. President, one** more
recurring to the queS'lon of thf sufficiency
of rhe volume of our currency,
permit, me to reinforce my opinion that,
it is not large enough by a comparison
whi.-.h is s rikiag and conclusive. I;
will make this cjmp-insoa m my own i
^':!r<a a* ] urn marc fsiimliar with finari-I
ci-tl and business matters there than
The population of South Carolina in
I860 ^as 291,300 venire and 412.300 colored,
the latter slaves. It will be borne
in mind that trie c.lored people, as
slavrs, had occasion ur opportunity to
handle very little money as they were
supcor:ed and maintained Dy their own-;
ers. It aiso will be borne in mind that
almost the entire business of the Sta'e
was conducted by the whites, so that
the 291,300 white persons may be adopted
as the basis for estimating the p-r
capita of circulation in that State.
The population in 1890, all free, was
1,151,149. Of course, more currency
would be required for the latter period
than the former, but we tind a strikingly
different condition of affairs. Some
Li LL1C 31UCC ? itUUlCSSCU A ICtU^l KJI 111"
qairv to the comptroller-general of
So^th Carolina, requesting him to iutorm
me as to tbe amount of bank capital
and bank circulation in that State
for tbe decades of 1850-00, and 1880-'90,
with several collateral questions of not
so much importance.
Quoting the .-tatements of Comptii
ller General Ellerbee, and those of
Mr. Thaddeus Street, a prominent merchant
of Charleston, Senator Butler
summed up the results, as follows:
A recapitulation of the foregoing
facts shows that South Carolina in 1800,
with a population of free inhabiUnts
of 291,300 to 412,300 slive, bad 818,000,000
ot b ink capital and $101)00,000 of
bank circulation, while in 1890, with a
population of 1,151.000, all free, she had
only SI,798,000 of bank capital and
8389,065 of bank circulation. I do not
pretend that this is the only currency
in circulation. The other kinds ot" national
currency?greenbacks, gold and
silver coin?circulate in that State as
elsewhere, but not in quantities approximating
810,000.000. Just how much
in addition to the national-bank notes
set forth above nobody can accurately
estimate, but it is safe to say it will not
reach the half the 810,000,000 while there
are nearly live times the free inhabitants.
Norjdo I claim that the national-bank
capital of 81,793.000 embraces all the
bank capital in that State. We have
about 84,000,000 of State and national
u i- I 4-u~ j>io<\nnrinn
uauh. capita; a^aiunt. luo .;io,wu,wu
Now, Mr. President, the simple recital
of these facts telis the whole story
of the currency famine in the South,
for what is true of South Carolina in a
greater or less degree is true of the entire
section and of the West also.
I am sure I have not overstated the
situation at all. Nor have I exaggerated
the real condition of affairs. It cin
not be denied that the exigency urg-ntly
demands Congressional action, and
that som9 measures of relief should b?
promp'ly afforded. In my judgement,
no greater or more sitisfactory measures
of relief could be adopted tiau
the repoal of the 10 per cent tax on
State b?nk circulation.
If tnia is doue I should expect to see
a revival of prosp-rity never before experienced.
I sheuld look forward witn
conadeuce to a long period of contentment
aad progress among the people of
*11 sections wnicb would redjuad to
the happiness of all.
It is encouraging tmote that one of
the great poii ic 1 p-inies?The Democratic?
has,it. Ka re..eul national couvention
at Chicago, adopted, as o^o of
the plants of its pirty platfcr o, a
jroposition to repeal this tax.
I should regret to see this made a
party question; but it b a most hot-^'ull
sign that the parv vhicanal lOJ.OJO
majority in the po^uwtr vote at ttie
l*sr. Prer'^ential election has emuraced
this-^i'.oin itg ;>arty creed and made it '
a promient feature ui' ita party pviioy,
A Flood HuDff.
Jacksonville, Fia., July 12.?An
Oiaia special says tnat a uegro named '
R.)0ert Lirtrin was lyncaed srurilv
after noon to-day by the citizens of
Citra and vici w y, for ravistnag Miss
Fannie Ale . t-r list moad-ty noon,
^ae is a r hue : young lady, eighteen 1
years of ag~, of the bighes social con- 1
nection ani standing. She was return- 1
ing to her ajme near Citra from the 1
postotliice, when Larkin suddenly spran
from a thicket, seized the horsa ny the 1
bridle and dragged her from the bugsry. 1
* * MAtof /\f .? AA<?lr<trl ni ^ h/-? I 1> o I
LUC puiuuui a. iic iviv
ed her into dense woods and in re 1
accomplished his purpose. Four d'f >
ferent negroes have since been taken '<
into custody by the lynchiag pos*e, 1
but none of them were identified as
the assailant. To day Larkin was cap- 1
tured and taken before Miss Alexander, <
who at once recognized him, and his '
teatures, clothing and general appearance
tallied exactly with the di-scrip- '
tion which she had previously given <
L-irkin was at once strung up to a tree <
and his body riddled with bullets. It :
was a negro who put the nose about '
the culprit's neck when he was swung '
off. Larkin had been a petty thief 1
and allround crook about Ocala for a (
year or two pa3t, and had frequently 1
hoon ?.<-> i?.il nnri?r the name of '
While. The lynching1 is generally iasti- i
lied by whites and blacks alike.
End of the Crisis.
New York, July 12 ?At several ol .
the larger banks it was siid to-day that
considerable amouats of currency had
been received yesterday and again this i
morning. One large Broadway bank
received yesterday $500,000 in currency
and gold fro u the country. Some of
the gold was received bae.k Irotn Califoroia.
The Fourth National I3iuk received
$34,000 in currency yesterday
from country correspondent, aad today
its receipts of currency by the first exnmAnnto/^
1 r\ ? 1 Q ^ AflH
ux. COO vgutvi j auiuuuivu v * v w ^
with a lot more iu sight. As an indicatiou
of easier conditions prevailing it
was reported today that many country
banks were remitting currency here and
setting back some of their bills rcclivable
which they hal rediscounted here
three or four weeks ago, taking adyaotase,
of course,|ot the rebate in discount ,
for the unerpired time. At all the lar^e (
banks todav it was said that demands ,
froja out of town customers ior accommodation
were lighter than they had
Ueeu iVt wCCK3. ly jvy u-.uvva ua-irwa j
still report a scarcity of currency, but it i
is believed Lbat- the supply will soon be
more than fqiul to the demand. he
ofler of some of the banks to pay express
charges on currency Horn the country
has had a very stimulatiu effect 011
shipments to this city.
An Oid Ka*cal.
Laurens, 5. C., July 14.?A gre*t 1
seDsation bas iust come to light in this
county, which has caused "school Com
iinssiijuer u4\cupuio tu lcai^u uio uitice
and Ike to the West, wheie he
should remain, It seems that a short
time since that Davenport, who it uv^-r
sixry years of age, in iravelicu' over
tne county attendia* to his duties,
stopped at the house of a farmer by tne
name of Fuller, who was absent from
home, but whose wire receiv. d ana entertained
Davenport. After being in
the house awhile Davenport made lm-;
proper propo^s t> Mrs. Fuller and
tinally arternp! -d t? uiitrige hrr. The
woman scr>-amtu aud the old rase 1 desisted
and bt-gged his intended victim
to say nothiug -ioout it, wnich. sh ; declined
to do, and told her hu-jand
whrn he came home. Fuller th< u got
uffuf TV.? r\? ?r a- t ?? ti . % t Ki ??
aiuri iya?cu^ui j ay cvn fi up ti-iv
matter by uaa certain sum or
money and agreeing to leave the State,
which he has done as above stated.
Tlire* Kill. d.
Xew York, July 11?A Pan Handle
tra-.n killed Mrs. John Gary and her two
children at Kicn's crossing, Ind., Sun-1
day evening. I
ieby Ilirs back.
HE ANSWERS GENERAL FARLEY'S ACCUSATIONS
IN GOOD HUMOR.
Tho .Junior Senator .4dJuce? Several
AAI l.ot-if j t . I? tli if l?p \a Jth#r
Wrote >or D.ctatel lbs "Craddock"
Charged to II>m by G.jn. Farley*
Columaia, S. C., July 14?The following
reply of Senator Irby to the late
attack of Gen. Farley on him was
rrivfin to the nress last nicrht:
A few days ago a communication
was published in the several daily papers
from General Farley, abusing hie
for supposed wrongs I had done him.
I cannot, engage in a persoaal abusive
controversy with General Farley, or
anybody else. The pubitc are not interested
in such literature, and therefore
do not expect, me in this reply to
eugage in any such blackguardism.
The public, ho wever, have a right to
be informed as to the truth or falsity
of anv statement of alleged fact that |
may be contained in General Farley's
There are only two statements of moment
io the letter as I read it.
First, That I dictated to my private
secretary an article, which appeared,
'he second week of March in the Augusta
Chronicle, Mgned "('raddock,"
without the consent or knowledge of
th- pwson who uses that mm de
Second, That I inspired an editorial,
which was written by Mr. W. T. Crews,
in the Laurensvuie neraia.
The lirst charge is as ridiculous as it
is false. The idea of a person with a
ihimble full of sense forging the name
of a newspaper man is laughable in the
extrrme; but I am willing that the
public should know the whole truth
about that "Craddock" letter:
Mr. James II. Tillman, a son of Congtessm-tn
Tillman, was, about the aate
of the "Crad'loc-k" letter, the correspondent
of the Augusta Chronicle in Washington,
and "Craddock" was his nom de
plume. Oo Saturday, just oae week
alter the inauguration of the President,
Major William T. Gary of Augusta
and Mr. James II. Tillman came into
my sit'ius: room ^ttbe .National Hotel.
Mrfjor Gary said to Tillman that what
be had told him a few moments before
ought to be repeated to Irby. I asked
what it was, and Tillman told the following
That he had ju>t left the Metropolitan
Hotel, wbt-re he had ha<1 a 'on*
couversaiiun with General II L Far
lej, who hid rem-tinel iu Wash ugfou
siuie inauguration. lie said tr??.L Far
ley h*dreail him a 1 -eg abusive commuijica
tun ddresscd to the Reformers
..f sinnth i'Mr.ilina ?h.i lAMTItr that. Till
man and Irby were unsare, unwise, exrr^me,
dangerous leadr.-:-; and that the
Reform movement cuuld not be p^r
petuated with ur t >r*>*iug them ov?-r
board ana pu. i * ?re conservativleadrrsiatru.it.
lie asked rillmanfo
publish ir. in the Augusta Or.inicle
with 'lis (Fa'l-y's) mom de plume, s .y
i'ig that tue piecr wuuli attract grrai
attention, create ^ er'-at sensation, aod
that, at tbe proper aide, be would come
nil fc and assume its HUlhorshiD. Till
n.an s*>d ;h-s h- refused to publish it
unless he wo-'M ailow" trie eauoi vt bio
paper lo ku. .v the auttior. He told
riilman thai that was theopeni: g gun
?f the campaign nexo year against
l'ilim.m's and Irby's Iradrrship of the
Reform movement. lie further said
tDattne fallowing slate had been arrauzed
ana agreed upop: Thit General
Hutier was to run for re-elec-.ioc
to tne ->?-iiafe, JsMell was t) be sup.jurtnl
by the Coi.servatt vrs, or aDt^. and
milder Reformers fjr Gjvernor; and
hat he (General Fariey) was to run for
Jungivtss ia Sbeil's district. H? sua
they Wi/Uld like to get faibert mio tne
jooibination, but that, it could laoc be ,
irranged uuless George rillaian would
igree to 1-t up on aou suoport l'aibert,
iud, in that way, get tbe Conservatives
lo support Talbert tor re election. Farley
offered Tillman a place on tne
ticket as Adjutant and Inspector General
it' be would go to bis fath-r and .
make tbe arrangements by which he
would not oppose buc support Tal- '
oert's re-election. (At this time every 1
?nein Washington knew that tbe Governor
an J Colo el Tillman were noi on
speaking tern>.) 1 ask^d Mr. Tillman
what bis reply to Farley was. and he
said that he told Farley that blood was
[.bicker tban water, and he would be
}?d if be would go back on his uncle
tor Butler or anjbcdy else. I asted
turn if this was a newspaper fake or
Lhe truth and he replied:
To show yuu that 1 mean business
I'll publish it in full. There and then
tie wrote the piece signed "Craddo;k."
[ did not have anything further to do
with it; did not see it any more until it
appeared in the papers; thought noth
ing of it until theiollowing week when
I heard him read a certificate frum
some one to tbe effect that be (Jim Tillman)
bad written and was the author
cf the "Craddock" letter. That ni2ht in
my room between y and 10 o'clock
while I)r. Tope and I were talking, Jim
Tillman came in, and I asked hitn to
rehearse the whole tale to Dr. Pope,
which he did, exhibiting the <-Craddock"
letter, and spying that it would
go off by telegraph in a tew minutes.
As to the piece referred to from the
Laureusville Ileraid I can only say that
1 knew nothing of it until I saw it in
print. The sutijoioed letter from Mr.
Crews on that subject will explain it
In conclusion, I will ask the pubiic to
think of o-e thing only. Why did not
Gereral Farley ask of me an explanation,
if he believed what he pretends to
believe of the assumed wroug I did him.
The evident re, son to me *hv he
sought no explanation is that, if he had
done so, he would not have had the op
portunity to abuse me for political
purposes, for he kuew had he called on
me a satisfactory answer would have
been given him, his excuse for denouncing
pjc aud his cbance for ingratiating
himself with the Conservative
ele.-neut would have been lost.
I leave it to the public to say whether
events subsequent to the fourth of
last March h*ve not proved that Jim
Til.man told the truth wh-u he c-ime
to me with the report of the c inversatioL'
between him and G-meral Farl -y.
1 need not give the argument wny 1 r>eli~ve.J.ni
Til m-tn told fhetruih,for 1
ftiu S-Itisfisd th If every 0 ie wh<> reads
the LeA'sp tpt-rs arid who has watched
the turns i;> politics, will sec that tLe e
was ruth and lots of it in what Tlllma'i
I subm't herewith letters from Dr.
1 'pe. M< rijih", Mr. w T.Grews arid I
M j'ir W. L. Gary or uigusta, which!
will prove coccia-ivniv that ihecliar - - !
made !>y G?-!; F >rley are lai :
This pbilippi. . a ine is but'.:
fululluieut ot tirj sctieoi^as concocted
iast March. The scheme, however,
was aoi-ndt-cl by leiviugout Gover'.-fr
Tilman for r^isi.-ns wruch must be ap-1
parent to every s >ii?Ie person. Geii-!
t'lairaney reabuLS ujus; x win anus" i
Irby and thereby please every Cuq- j
rvative in toe state and will threaten j
'I'llltiiHii at:d .-ew his mouth up, ..nl by i
praisit g bt.eu wi: 1 get enough Tilimanites
'o beat 5'an\arue Wilson tor Cuu- '
With this explanation I have done:
with newspapers as a means of adjusting
J am, very respectfully.
John L. "M. Irby.
Xewberry, .S. C., July 11, '03.
Hon. J. L. M. Irby, Lauren*, S. C.
My Dear Sir: In reading the card
of Gen. II. L Fnricy in reference to
the pupiication of " a letter signed
"Craddock" in the Augusta Chronicle.
I am reminded thnt during my stav in
Washington the author of that piece
came into your room (where I stayed
also") "With a eommuninat.i >n in his
band sometime dm iug Saturday night,
a week after the inauguration of Grover
Cleveland. When he entered the
room you asked him to rehearse as
nea;.y as possible the conversation between
him and General Farley at the
Metropolitan Hotel that day. He unhesitatingly
and promptly told tne following
That General Farley had read to him
a communication addressed to the Reformers
of South Carolina, rather denunciatory
than otherwise of Tillman
and Irby as leaders of the party, and
asked Tillman to have it published in
the A'linta Constitution under a nom
deplume, saying that as a newspaper
man he could have it done under 2.110m
deplume and would not have to expose
hisfideniity. He told Tillman that if
the article took well with Reformers
he would come out and avow himself as
its author. lie also said that he would
give Jim Tillman a place oa a State
ticket, to be made up as Adjutant General.
Ile(rillmau) further emphasized
the fact of his authorship of the "Craidock"
letter by reading it to me and by
saying that he was on his way to the
itl-igraph office on Fourteenth street to
send it to the Augusta Chroriicie. He
also said that whenever he had communications
of thi3 character to publish he
used tat nom de plume "Craddock" instead
of in-, initials "J. H. T."
This informuio:i o-only surprised
me but I was horriii-', to tum.K that
such things were goiutj on atuung the
Reformers, and especially among tae
leaders. Senator Irby was also indignant
at it, and asked me, who intend a
to return home by way of Columbia in
a tew days, to see Gjv?rnor Tillman
and tell him what Jim Tillman had
said, for the reason th*t Senator Irby
was afraid the Governor would not see
the :?un lay edition of the Chroaiele.
In passing through Columbia I went
to Governor Tillman's house and gave
him the information we had received
from Jim Tillman in VYrashington.
1 mat -1 iMs statement to you voluntarily
brtuuUde you inust have lorgotten
hiitikuew anyihing about it, or you
would uavrt *riiteu to in-; aud because
H Is due to you and trut 1 illit tue
puoiic shouiu kuo-v trie uu.h anl the
autaors'np of mis wa?>le u* rer
Your friend, Sampson* Pope,
This is to Certify that Senator Irby did
not dicta"e to me any article signed
' Oraadock," pubiisfjrd in the Augusta
Chronicle or else kvnere, and rhatJL kne-v
othing whatever of its composition.
,>lr. James Ii. Tillman, to my knowledge,
never disavowed the authorship
ot the Cradduek le'-ter. Itn-id beeu
tated thai Mr. Til;man denied responsibility
for a p>.?rt of the latter rellecung
upon Mr. F. 0. Cau^nmau, but.
Mr. 1'il.DaaQ, 10 disprove ih-*t be UaJ
repudiated anypirtof it, suo-ved me
and otoem, i Drf-sum. a Dote in the
nature of a certificate, in wmju an.
Cau^bmau stated tnat Mr. 'iilimao decltred
himself the author of the <v icie
signed "UraddockM. F. Tigiie.
On last Friday, June 30 h. Geueral
Farley cime in o the He/alo otlke, and
alter being sc. > --?, tne foiloA-inj; convention
100K place Detween myself
ai.d Mr Farley.
Mr. Farlev?Mr. Crew?, didu't you
publish an anicle iu the Heraid the
other week in whic'o. you stated t hat I
attended an Aliimce caucus ia Sp^rtaaijurg?
ami wasn't soaietniu^ said about
sharpening Brums daggers !'<>r TilimiD,
etc ( Was the article aa editorial
or coiiitnauicatiou ?
Mr. Crews?There was an article of
that nature published intiie llt-ralda
wt-ek or two ago, but the Farley mentioned
was not intended to appiy to you
?it was Lid Farley. There was al-o
something said about "Brutus daggers,"
and was aa editorial written by
uj jr OC11
Mr. Parley?Where did you eM; your
information from? Diuu't s me cne
here give you the inform-it'.on ?
Mr. Crews?No, sir. I got my information
from some one of the daily papers.
Iam not sure, but I think it "was tbe
Greenville Xev\s, and the editorial was
based on the intt rmation contained in
a dispatcb sent iruui Spartanburg-.
Mr. Farle>?I think you are mistaken
about getting your information
from the Greenville News, as I have
npvers^pn anvr.hinor nf that, kind in thp
Mr. Crews?Possibly I may be mistaken
aoout getting my information
from the News, but lam positive that
I got it from some of the daily papers.
Xo individual gave it to me verbally
. Mr. Farley's questioning me in regard
to the sourc- of my information
in regard to the editorial in question
impressed me at the time thai he was
endeavoring to extort from me a virtual
admission thar, socne one in Laurens
had given me the said information, and
when he afterwards ahuded to the fac-that
he had a personal enemy here who
was trying ro injure him. and other
such impressions, without directly
namina any one, I could plainly see
that, his referances wer^ made to Senator
Irbv. I then told Mr. F<irlrv dis
tinctly and positively that neither Senator
Irby nor any one else had ever
mentioned the subject to me, and that 1
was responsible for the editorial and
the reference to "Brurus daegers,"etc.
The above is the conversation which
took place between Mr. Farley and wj~self,aswell
as I can remember, and the
sa'/Stance of what I have written and
what was said by us on the occasion
referred to can be substantiated bv
'hree other employees io the Herald oflice
who heard the conversation.
W. T. Crews.
i ATKS -i.1 1010EY,
(Southern" District of Georgia.
Macon, a*., Julv 10, 1893.
Sir: Your kt ?-r dat.?-d Julv 8, 18U3,
in which you r-Lcl )sed a card published
by Ho'i B. L. Farley.is ivceived. Yon
request uir- t > tuinisfc jou tor pub;ication
a >ia etU'Ut of t'*c s which came
vti.hin uay kdovvit-oge i i rt-tfreuC'- to
r':e ar'ick pub.iali^i] i^i the Augusta
^nromcie over m*- ssgutture "uiauduck.I
haw nointenfiou to wpouSP the
c;uise of any of the parties interne 1 in
this conTmvery, wi'h all of whom my
relations -re *necd:j . 1 yield to what
1 cone iv- to be ujy <bi y arid r*o an act
>f simple jasiic to you iu inakiug tee
olluwing sta'eiu nt:
The article signed ''Cn-ddoek" was
not dk tated by you to your private secretary,
uor v\ns it s-nt to the Orooicle
for publication either by jo-i or your
privat? secretary. Diriug my stay in
Y\.'n<shi r.crfun T n:vi< nr in inur
room-> at the N ruonal Ilotei when a |
conversation was had in r-fcre ice to if,
and the arucie was re^ti to you in tuy
presence by i beaut her before it was
Seat fo the Chronicle for public^rioa.
Vrry r<-sp?eft'uliy, \V. L\ Gary.
IIoij. J. L. M. Ikbt",
Uuited States senator, Liareas, 5. C.
"great loss of life.
T?RR!3!_E WORK OF A CYCLONE IN
Eatlre Famine* Blown Away?Man
gl-d Remains Found la the Rained
Homas?Appilllug Scaoes Amoos the
Debris?Sev*r-il Housed Wrecked.
Pomeroy, Iowa, July 7.?Fi:ty-three
dead. seventy-Gve fatally injured, and
150 with broken limbs, cut and bruises
more or less severe. This is what the
tornado of last ni^ht accomplished in
the matter of casualty. The town of
Pomeroy is one complete wreck. There
is scarcely a house left standing. A*x>ut
Otteen acres of debris constitute now
what was yesterday a thriving village.
Splinters are all that remain. Scarcely
a tree remains.
Piles of broken timbers and occasional
pieces of furniture are all that can be
"ound of what was once the largest
building la the place. T?vo hundred
and fifcy houses were in all destroyed
and the money loss on ihese and their
contents is placed at $200,000. The
tornado, tor such it ^as, came from the
Norihwest. All who saw it agree that
iv rraa uui. ui iuc luuuei suape spsuies,
bat cirne bounding along the prairie
like a huse ball. It was of a dark green
color and was accompanied by a terrific
Many saw it ^ :m it was far out of
town. Those gave the alarm aad some
were prepared for the monster when it
reached the village. Most of the Deo
pie, uowever, oecime panic stricfcen.
Taey ran out of their houses and fled up
the streets, crying and shrieking till
struck by the flying timbers of th8 whirling
trees. Tbe cooler ones, especially
those who were near to them, made for
(wo caves in the Southeast part of the
town, Duiit especially for just such occasions
as this. Into Dneot these caves
collected twenty-five people and In an-"
otber one five. All escaped without a
It is pretty well agreed that the tornado
struck the town about 6:50 o'clock.
T-Tiilf on hrtnf fhia if afjo
a-jl. i Ma uvut k/ yivL v uaio iv M no /WV/V>
102ly not aad sultry and save for u few
small clouds there wa < no evidence of
iha approaching whirlwind. Tne cyclone
was out of a few min ets duration
and was f flowed by a terrific rainstorm
which continued at i-nervals more or less
Jirou'ttou'. ise nlghr.
T'ie pd:h ot tne storm seems to be
a'o )ut oae-eighth ot a mile wide and
tw. nty miles loog. Tne death list out
in i he country i? heavy and many of the
ueij:hbo in^ to vns report many casualties.
In Fairfi id, in Cherokee Uouaty,
the nunher of dead is fifteen. Eght
more are reported killed at Storm Like
and nanv otner places give notice of
one or t wo deaths.
It was noi umil nooa to-day that the
work of rescue beaan. By that time
theM was a ir>od supply ofaociors, not
arge enough, however, to care for the
w.-uoded. Tbe la-iies ot Fort D>d;e
* u. a* nurses and tnere was a planti;ul
>upp!y of bedims and food. As
"apIQiy as irjTatWo iojcrcJ "
mk-a to the improvised hospitals aad
-ben mediea1 attnatioa. T .-c buildings
A-ere inadequate to ttie needs of the injure
A com pan v of militia from Fort
D xl^e brought their tents, and these
-vere usea lor nospitai purposes, ?ne
hsai of the sua was very great, the theruomnJier
rising atioag the nineties.
The tents were very hot, and deaths
?mong the iDjured were very frequent.
Ttie intense beat made it irapos-ible to
K>.e : the bodies of the dead and those
ii;ac were riot claimed *>y relatives or
trie ids. and by them buried or taken
away by noou; were placed in the erave
ard by the officials. Forty graves were
dag and hl.ed with dead up to 9 o'clock
this evening, and at that hour flitting
if.nlerns in the cemetery snowed plainly
that the work of burial was going on
The National Bank of Pomeroy was
made headquarters cf the relitf movement.
Governor B)ies arrived at 4
o'clock and took charge of the whole
affair. He was iir3t 'riv^nout over the
rums, t&en fie visited tne nospitais ana
the morgue, consulted with those who
had thus tar directed thinas and then
issued a proclamation setting forth the
needs of the sufferers and calling upon
the people of Iowa to contribute liberally.
The Governor said the situation
was far .vorse than he expected and assured
the people th?.t nothing that
would add to their comfort and r.elief
wou'd be left undone.
There was much trouble in securing
coffins and by t.o-ni<rht the supply of the
tnnrno ir\ tKo nninlttr Konn thA1*Anith
ly exhausted. Hundreds of willing
band3 dragged the dead and dying animates,
with which the ground seemed to
be li erally strewn, to the outskirts of
(he town, piled them in the big heaps
and covered them with tb? remains o f
houses and applied a tor^b. Fully a
dozen of these strange bonfires were
kept going all the afternoon.
Whol-j lamilies were in many instances
wiped out'by the tordado, ant. in houses
that c mtaioed from fou to eight pers
)nes, not more than oue escaped alive.
Husbands have been left without wife ,
or children; children are left orphan? amp""
there are fifteen or more women inJTomeroy
to-night who have neitfeef husband
or children lefi,.
A telegram 'from Fonda states that
-frv'e enti e families were blown away at
ji'ia, but a full list of the fatalities cannot
be had. D. T. Miller is known to
have be^n killed. Mrs. Gordon was
killed instautly bv the wreck of her
house and nothing found of tke family of
seven. Xo trace can be found of Edward
Sjameut and family of five. They
are tupposea to be d-ad. Sam Herein.
wife and two children are missing.
lis. li'-r^haai was very ill wbea the
storm broke. All were blown away
and are thought to be dead.
Trains arriving from the Eist oa the
Illi' O s (J> nira; came idio Sioux City
It*.. ni^ni vvi<a all tue ?jla->s iQ the cars
broken. Trau.Oien say tba!. tbev raa
noa.'h a severe rjau storui. bu? enc/unt*
r-d uo yrcaL wind.
At, Qxiuiby, a iiitile towa East of
Cherokco, miny houses are reported
wrecked, aad at least two Dersoas are
ka->*n t)have been killed. Taey are
M s. Alien Warburton and Mrs. M?>lineaux.
When news ciQ De hod from
ih? oun'rv it is expected ibat ihe loss
of hte svi'l be verv great, as region
ibrou^h wfcj:h ths cyclone passed vras
ihicaly poi>u'a?e i.
W rld'n Supply f Cotton.
x uttft., j :?iy o?JLue uo'ai viai. ?
iD^ly u? cotton 'or vorld is
[ 2,8-6 *'-6 t> -tit s; of whicQ 2,3-5,726 bales
Uie Afiieric-iu; against 3274.U73 aad
j 2,692 b73 oal-s. respectively laac yts-ir.
liecn^oS at nil interior to vus 9 584
j b^iit-s; reCfipt-* ar. piao-H'ioiis 6,770
[ bal.*. Crop in sight 6,452,095 bales.