Newspaper Page Text
THE AEGUS, SATUBDAT, OCTOBER 29, 1898.
Plain points for
Are always found in abundance at Shields' Cash
Grocery. Soon the fall harvest for frugal econ- rA
omical housewives will be at its height. Even
now there is to be found the best offerings of
the market at prices that are bound to save you
money. You can't afford to pay even a few odd
cents when the expenditure is useless. There is
no use in you doing so. .
These are the Economic
That should govern every household. Goods
for the many, not for the few, has been Shields'
aim, and the results of this theory are shown in
the ever increasing confidence of patrons.
2600 Fifth Ave
We have what you have been looking for, 3-inch
leader-base shells, loaded with Dupont powder .Use
them, and you will have no birds dead "out of
bounds" or "dusted targets." Wc also have a large
supply of cheaper shells.
Guns and Rifles for Sale and Rent
303 West Third St., Davenport. 324 Twentieth St., Rock Island.
LARGEST STOVE rUSmM W3.RID.1
BANK BILL DANGERS. :
the Measure Before ,Conr
gress Should Be Defeated.
HOIT. T. E. ABDEEWS "WARNS VOTERS.
Prices rFfom $3 to $50
AT THE "JEWEL STORE.'
A en, Mvers &
Oprosite Harper House.
1821 SK05D m
It Makes no Provision for the Protec
tion of the Depositor, and Leaves an Ave
nue Open for the Formation of a Glcan-
tie Trust George W. Prince a Supporter
of the Measure.
lion. Francia . Andrews, demo
cratic candidate for conjn-esa, spoke
some somen trams in regard to the
money question while talking to an
Akuls reporter at the Harper house
last night, advancingargunients which
are winning votes wnerever oe nas
Our legislation on banking and
currency since tne war lias been an
wrong," said Mr. Andrews. 'vve
started wrong and every step since
that time has made matters worse.
The first wrong step was the demone-
HON. F. E. ANDREWS
tizing ot silver in 1873. lhe nex
was in passing the silver purchasing
act instead of restoring silver to the
position it occupied prior to 1873
Ibis step, its author admits, was
wrong. J he next blunder was made
when the treasury department sur.
rendered to the holder of obligations
against the government the right to
name the kind of money in which
such obligations should be paid.
Kegardless of the business inter
ests of the country, it has become the
policy of the administration to under
take another false step, in providing
for the retirement of the United -States
notes and treasury notes of lS'JO. It
is plain to be seen that this cannot
remedy the evil result, to-wit: the
run upon the gold reserve, for so long
as the silver dollar, silver certificate
or any other form, of United States
currency is outstanding the holder
thereof can present it for redemp
tion in gold.
But even should the last dollar of
United States currency and every sil
ver dollar and all the subsidary coins
of the United States be retired, our
condition would not be bettered. For
should these all lie out of existence.
then so long as there was one dollar
of national bank notes outstanding
the gold fiend would soon ply his oc
cupation and demand gold of the na
tional banks of the country until they
were compelled to retire their entire
circulation, lhis would leave no
money in the country except gold.
and not much of that. The gold
fiend, the legitimate child of the gold
standard, is on our track, and on our
trock to stay until we are driven to
return to the only refuge of safety
that of bimetallism by reopening the
mints to the free and unlimited coin
age of silver and gold.
But there are none so blind as
those who will not see.
A Dangerous Measure.
lhe committee of the house on
banking and currency of the last con
gress, ol wmcn committee oeorge v
rince, member of the house from
this district, is a member, has, in
obedience to the message of the presi
dent, prepared a bill embodying the
deas of the president, and presented
be same to the house, together with
a report recommending the passage of
be measure. Ibis bill is known as
house bill No. 10.289. It will not
remedy the evil in the least, and is a
most dangerous and objectionable
measure. This bill reforms the bank-
ng law. The main features of the
law, so far as they pertain to this
subject, are as follows: It provides
that the national banks may issue
three classes of circulating notes,
namely, national reserve notes, na-
ional bank notes and national cur
The first are issued bv the gov
ernment to the bank in exchange for
United States notes and to be re
deemed in the first instance by the
bank in gold, but to be ultimately re
deemed by the government.
The second are issued as now
to the bank upon the deposit of United
tates bonds with the treasury, the
nly difference bein that the bank
can take out these notes to an amount
not gual to 100 per cent of the
face of the bond instead of 90 per cent
a n!etofore. The national currency
notes are to be circulating notes is
sued by the bank. It is provided
that any national bank, having de-'
posited" with the treasury United
. ... , . - , -
cent oi tne paia up nu unimpaireu
capital of the hank, but an additional .
mount of national currency notes I
may be issued subject to the tax on I
circulation without any increase of I
the circulation secured by United
States bonds, and without taking any
additional reserve notes. That the
national currency notes shall consti
tute a paramount lien upon -all the
assets of- the bank remaining, after
j paying the outstanding national bank
notes. Section 1 of the act provides
for the withdrawal of the bonds to
secure the circulating national bank
notes after the passage of the act,
one-fourth in four years and the bal
ance after eight years from the pasj
sag of the act without withdrawing
the notes from circulation, and with
out providing in any way for their
Wild Cat Currency.
"From the foregoing it is plainly
seen that the so-called national cur
rency notes are nothing more nor less
than wildcat currency similar to that
existing prior to 18U0, and that after
eight years from the passage of this
act the national bank note will also be
added to this class.
'The people have had enough bad
money. What we want is good
sound, safe money. Money not based
on confluence, but based on securities
as good as gold, or as good as gold
and silver under free coinage. The
authors of this bill are opposed to the
mine owners making a dollar out of
about four-fifths of an ounce of silver,
but are willing, nay anxious, to have
the bankers make millions of dollars
out of nothing. There are two other
provisions of this bill that should re
ceive attention. The first of these is
a provision in section 24 whereby if
the assets of a failing bank are insuni
cient to pay off its outstanding na
tional currency notes, the controller
of the currency may assess all other
national banks their proportion of
such deficiency, and out of the proceeds
of such tax, pay off such notes.
lhis is simply absurd. What
bank would submit to such a tax?
But it only shows the ability of the
authors. The other provision spoken
of is a very innocent looking one for
the establishment of branch banks
This in effect amounts to the reestab-
lishment of the United States bank
with which the people of Jackson's
time had such a struggle. If this act
takes effect a huge batik can be estab
lished with $500,000,000 of capital or
more with a branch in everv city in
the land a mighty trust of trusts
which can crush out all the smaller
banks; put a foreign agent in every
branch; contract or expand the cur
rency; control the value of property;
control the elections, and rule this
republic with the hand of a tyrant.
j. in s bin witn ail its evil lias not one
redeeming feature. It absorbs the
capital of the bank in its national
bank notes. It creates a lien by its
national currency notes upon the as-
sets of the bank remaining, that is u Don
the deposits of its customers. It sub
jects the remaining assets, the peo-
pie s deposits, to a tax to redeem the
circulation of defunct banks. There
is nothing to secure the depositors
except a fraction of their own depos
its which a little mismanagement of
the bank will soon waste away.
'Who would deposit their funds in
such a bank as a refuge against ruin?
The depositors will be driven to es
tablisn the postal savings bank or re
sort to safety deposit vaults. The
bill, if enacted, will defeat the very ob
ject of its authors. An election of
Mr. Prince means an endorsement of
this measure. Will the merchants
the manufacturers, the railroad offi
cials, or even the bankers endorse
such a measure?
What the people want is a sound
currency sunicient in amount and a
system, every dollar of whose capital
stock and surplus is pledged to se
cure the depositors aud creditors of
the bank. Such a bank would be safe
and no amount of financial depression
could shake it or create a financial
LETTING IN THE LIGHT
All Important Subject Soon
to Agitate the Common
LOW ONES AND TO WEES ALSO,
The Committee Proposition and Past
Experience Important Lessons Ought
Not to Be Entirely Discarded in Planning
for the Future Illumination of th
The Kock Island council will soon
be engaged in the laudable under tak
ingof searching for the light. In so
doing the aldermen will have an or
portunity to let their own light shine
before men. lhe discussion oi plans
and proposals on the illumination of
the city for some time to come will
soon be absorbing the attention of the
municipal assembly. As is known
the committee on lire ami light has
made quite extended tours of the more
important cities within a radius of
800 miles, and upon the strength of
its investigations has brought in
verdict favorable to a combination of
towers and low lights. On the
strength of the committee's recom
mendation the council has advertised
for bids for public lighting for a period
of two, three or five years. These
are to be opened at the first regular
meeting in the month of November,
Differences of Opinion.
hue the letting ot the contract in
accordance with the advertisment
published does uot necessarily com
mit it to a combination system such
as the committee has beeu led ta fa
vor, it may he taken for granted that
an arrangement of this kind is prefer-
rable, and at the present stage of the
proceedings is likely. It is to be con
ceded that a committee Having gone
thoroughly over the ground and fa
nulianzed itself with the plans opera
ting successfully in other cities
should be prepared to recommend the
best, and to support its ground with
convincing arguments, yet in the face
of all this, past experience may weign
as forcibly as the conclusions derived
from observation. Without seekin
to become prematurely prejudicial to
the ideas formed and plans formu
lated by the committee. The Akgls
always feels that experience affords a
capital lesson in the government of
all things, liock Island tested tower
lights at one time in conjunction with
low lights. The towers cost some
thing like $o0 each, representing
Kock Island enterprise and capital.
They were disposed of at a dollar for
the bunch, and. the company went V
of business. The towers of tr i
days were higher than the pror nl
ones, and there were less lights t.. a
tower .than is now contemplated.
But the towers could have been re
duced in height and provided with
more lights more readily than to re
duce them. The removal, however,
was accepted as the only practical so
lution of-the situation. Other cities
were disposing ot towers as
a failure, and so did flock
Island. Since then the history
of the country has been 25
towers taken down where one has gone
snouia run f or tne roiare.
The comparatively low, well
lighted tower may answer all pui--poses
in the sparsely settled commu
nities. The idea here is so to locate
them, one to a ward. But Kock Island
is building for the future. The city
is growing more thickly settled in all
directions, rather than less so. The
present lights would doubtless prove
advantageous if elevated, and if there
were more of them operated, without
reference to the almanac. Rock Isl
and wants more light on all subjects
especially that of light. The light
subject is worthy of the council's
most careful consideration. .... -
The Democratic Nominee
It has not been the good fortune of
any party in Rock Island county's his
tory to be represented by a more
thoroughly capable and qualified can
didate for the othce of county treas
urer than is the democratic nominee.
J homas K. Lees, in the present cam
paign. Jfotooly by early fitting, but by
morougn experience is Air. Les pos
sessed of striking advantages over his
opponent. His success as a busi
ness man and his management of
the details, such as bookkeeping
etc., is an evidence of his all around
capability, while his six years' service
on the county board speaks for the con
hdence of bis townspeople in him.
Further than this he has served two
uccessive terms as head" of the most
important committee on the board
that of finance, and his reappoint
ment by a republican chairman is evi
dence of bis recognized worth and
ability. , .--.,. .-
ftf iearly to the Interest of tax-
pavers to eleet Mr. Lees to this im
portant office in preference to the one
whose only excuse is that he wants it.
anH wi6dole claim j i political title
to it. 1 -
Yon Should Know
W bat Hood s barsaparilla has power
to do for those who have impure and
-' impoverished blood. It makes the
oe eniiued to receive and issue, in u- u rh-,,
A dose in time save lives." Dr.
P t a" as n. s B at B. I . . -r .
eta IO int Klun I WAN. woou s Norway nne Syrup, nature's
remedy for coughs, colds, pulmonary
For County I diseases of everv sort. Fnr .v
. 1 11 l' T - , .
luarsuau oe risner.
States notes and received in exchange
therefor national reserve notes
dition thereto, an amount of national - i.Vimt;:m
currency notes equal to the amount of are tronUed with an aliment
national reserve notes received as or promoted bj in bIoodt t,
sioroaiu: provmeu, ou u
the amount of national currency notes
thus issued shall not exceed the amount j
of its natoinal bank notes outstanding,
Hood's Sarsa pari 11a at once.
and, provided further, that the notes
thus issued shall not exceed 40 per S Subscribe for Thb Abqcs
Howl's Pills are prompt and effi
cient, easy to take, easy to operate.
I1IIIEN your eyes are sick,
" remember J. RAM
SER, the scientific optician.
Over 3,000 cases fitted with
in the last four years. Hun
dreds of testimonials from
grateful patients speaks vol
umes of tne success in fitting
is the best in this vicinity.
We make all kinds of "Jew
elry to! order and have the
only diamond setter in the '
city. Bring your diamonds ,
to us and avoid the .danger;
of their being lost or ex- .
changed by sending them
out ot the city.
Our Holiday display will be
the largest and best ever N
shown in the city. ej
DRAPERY and LACE CURTAINS
During the week we shall offer SPECIAL IN
DUCEMENTS in our Drapery Department, which
will interest the closest and most critical buyers,
Brussels Lace Curtains,
Tambour Lace Curtains,
Egyptian Lace Curtains.
Louis XIV Lacs Curtains,
Marie Antoinette Curtains;
Irish Point Lace Curtains,
Point De Calais Curtains,
Renaissance Lace Curtains
In all the newest and most desirable effects.
Single pair of Lace Curtains and short ends of
Laces by the yard, at half the actual cost.
Also a choice selection of Portiers, ready made
and .by the yard, in Silk, Vt lours, Tapestry and
Upholstery GoodsOur line affords the best
selection in the TrI. Cities. The styles and color
ings are all new and novel. Our prices below any
and all competlon. Kindly Inspect our line during
A. J. SMITH & SON,
123 1 25 Wes. Third Street DAVENPORT.
o Clothe Boys Properly
at minimum cost is a problem which has,
made many a man scratch his head and
many a woman wrinkle her brow In thought
vv c, too, nave bent much ellort to its solution and have suc
ceeded. It will be surprising to you to see what marvelous quali
ties and "stunning" styles in boys' clothes we are showing at
All wool fancy Cheviot, prettily braided Reefer aud Vestee
Suits for little boys of tho ages S to 8, at
$1.98 to $6.00.
Plain suits of same quality fabrics in different patterns, the
coats made simply double breasted, sizes 8 to 15,
$2.25 to $7. SO.
Fine blafrrk, Worsted diagonal or blue Tricot Suits in all
sizes from 8 to 16,
These are scarcely representative of the entire stock; but It will
repay you for the timo spent to carefully look through our Boys'
and Children's departments to see the handsome Suits, lop Coats,
Keerers and irousers, and note the money saying prices at which
they are marked. Your money back if you want it for anything
SOMMEBS & La VELLH.
2 iRtia emnA Avpmif. One Prloo.
A Haven of Rest
FOR WET FEET AT
They Make Your Feet Glad.
A Healthy Child
u ,::' .1-
. JsLites in a house that has
f t good. - plumbing. If the
plumbing isnot perfect
the little fellow cannot be
healthy. When there is
anything the matter with
the pipes in your house
send for us.