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Woodyatt's Music House
Highest of all in Leavening Power. Latest U. S. Gov't Report.
BUSTED THE DEAL.
An Incident on Chicago's
Board of Trade.
Wednesdat. Jckb 1, 1892.
1 ANTI-SILVER TALK.
Senator Sherman Discusses
Finances at Length.
KEITHEE PAETISAN NOB POLITICAL,
, Vet Question of Vast Importance to
tlin Business Interests of the Country
, The History of the Act of 1873 Recited
Why "Dad's Dollar" was "Demone-
tired" Origin of the Coin Mainten
: ,5 uce ot Parity lletween Silrer and Gold
ij ,( Impossible Questions Answered.
" 1 ,; Washington, June 1. The silver debate
" j' -'a contributed to at length in the senate
. ssterday by Sherman. In accordance
. . ',. ilh his notice of last week he arose as
tj . -. ie clock pointed to 2 p. ni., and pro
; !'. eded to tell what he knew about silver,
. ' " id especially to recount the facts of the
: issage of t be famous 'demonetization" act
( 1873. Preliminary to this par: of the
:) bject he said that a free coinage bill was
1 r a partisan or political measure one on
Jich parties are likely to divide. Said
V ' "It is largely in my opinion a local
! tasure not exactly in the same sense
, , . t General Hancock said the tariff was
. t it is largely a local question, and at
( same time one of vast importance."
. The Cry of Hard Times False.
. ; here was 110 question before the senate
lual importance to the business inter-
; of the country. Free coinage was not
; ssary to avert hard times. There was
' : : ard times in the United Statesat pres-
The south was somewhat worried
j " . J a cotton crop that was so great that
:, s impossible to consume it promptly.
; ''rtheless he believed that the south
t witn its vast mineral resources
j "'d eventually be the most prosperous
- i ' Jf America and no state, except per
'. Montana, gave such promise of pros-
i .; as Alabama the state of the sena
' . 1 lorjjan) who raised the wail of hard
' m bherman entered upon an elabo-
, ' review of the financial credit
the United States commenc
I with the period immediately
' ) ''ing the war. He finally came to
I - xsideration of the coinage act of ls73.
' I '; The Coinage Act of 183.
. j. history of that bill, he said, was as
"Secretary Houtwell informeil us
finance committee that a codifica
' the coinage laws was absolutely
Vry; that they were scattered nil
ie statute books, and he sent us a
i -odify the laws. It was a large bill
uiTplea.nnt bill to hamiu. f Was
'in of the committee on fitiance of
' te. I took po interest in the bill,
xked into it and reported it. It
'"i'ied against the vote of myself and
'' xll the members of the committee
ice, including Mr. Morrill, the
X-hairman. In that bill the dolinr
pped from coinage anil in place of
. substituted a dollar called the
'; llar,' upon the petition of the Lg-
...j of California, to facilitate their
1 " ule. '
-tory of the "ItaAAf Dollar,
jt of Nevada wan lei proof of the
iment, and Sherman told him he
'".d would give it later. He then
. j 1: "Now let's see what was this
t f "f the daddies' upon which so
. I 'ection is wasted. We all know
', 7 of that dollar and that Jeffer-
,' i Hamilton, the secretary of state
, ,' :tary of the treasury, were en
,'" to establish a bimetallic sys-
y 'Tder to do that they endeavored
;-Jy: two metals on a parity with
. r at their market ratio in the
'. the world. They took the two
measured them and came to the
that fifteen to one was the
lo. It turned out that because
e silver measured was abraded
ey rather underestimated it.
hat ratio stood. How many
'e coined on that ratio? I have
ble. tl, M0,U0, and that the
5 stopped by Thomas Jefferson
Coins Didn't Circulate.
bn given by the director of the
lat all these coins being new.
1, lit in circulation in company
A ' f .li
miiciiu coins, were uisapfieur
1 ,aerefore it was work wasted.
,Xi r thereafter not one dollar
Ml although every bo. iy had a
3 and them."
, What took their place?"
j'i "The same kind we furnish
!lnal coin until 1S3C, the last
4,al Jackson's administration,
U.t reason? 100,000 silver dollars
! ed and issued. Then it ceased,
" 'ijied again under Van Buren's
!n wh.n OT) 000 ttfirn iaftllp
i Jontinued, with sums varying
i' l' to the year lb72-3, and the
t which was issued, until the
itct took place, was 18,000,000."
i'r THE LAWS OF TRADE.
u'.egardinc the Fluctuations
( it Precious Metals.
ii hat we, the Republicans on
'ommlttee, were unfriendly
fut coinage act of 1ST3 passed
v single objection from the
1. t h Hnlifomta delecration or
It was said they did not
e demonetization of silver.
was that Anybody who
' I CO,
could see it, especially as
the place of the silver
le dollar to favor our Call
n their trade with China.
It is unfair, and unmanly
V n ;
1 r ':
a the senator in charge of
1 sole responsibility for the
; of silver. Why was the
-mittedf Because it had
Dtmonrtnea By tne Democrats.
"More than that it v as demonetized by
the Democratic administration of 1854,
with Mr. Hunter, of Virginia, at the head
of the treasury, by the coining of half dol
lars and quarter dollars containing b per
cent. less silver than the 'dollar of the
daddies.' Why did t ey do that Be
cause by the discovery of gold in Cali
fornia silver rose in value, just as by the
subsequent discovery f silver in Col
orado and Montana gold has risen and sil
ver has fallen." Sherman further traced
the decline in silver to tie suspension of
the Latin union, supplei lenting the great
discoveries of silver in the western states
and improved methods of mining and
treating the ores.
The Kesult of Fre- Coinage.
Teller asked Sherman if he was in favor
of the Bland-Allison bill.
Sherman There is no Bland-Allison
bill. They took all the ' Bland" out of it
when they adopted the Allison amend
ment. Laughter in the galleries. The
senator from Colorado cannot compel me
la give a bad name to a go id measure.
Continuing Sherman referred to the im
mense fall in value of iron, copper and
other metals and said si ver had simply
followed the same laws of trade. The free
coinage of silver could result in only one
of two things. It would t ither bring the
whole mass of silver up to the standard of
gold, at the ratio of sixtt en to one, or it
would demonetize gold.
Promises to Convince Teller.
Was there any senator who believed that
the value of the vast hoards of silver in
all the nations of the world could be
changed by our action.
Teller remarked that the vast hoards of
silver in all the other nations of the earth
were now doing duty as moiey at a ratio
higher than that stated by the senator.
Sherman replied that tha Europeans
would dump their silver into this market
and of that he would convince Teller be
fore be was through. How could we
maintain silver at the ratio of sixteen to
one except by buying all the products not
only of mines of the United S ates but of
all the mines in the world?
The So-Called Sherman Law.
We could go on buying and issuing our
notes till our debt was largar than it was
at the close of the war, but the collapse
would come at last.
In reply to a question by Mc Thereon of
New Jersey as to the effect of the silver
bullion purchasing law of lSi'O, which Mc-
Fherson called the "Sherman act," Sher
man said witb impressive empliasis:
-mere are possibilities in the future in
regard to that law, miscalled the 'Sher
man law, which make nie as anxious foi
its iepeal as I was reluctant to ;ass it. In
the absence of any provision for the salt
of the silver if the price of silver should
continue to decline I should be desirous.
as far as I could, to arrest the further pur
chase of bullion, With a circulation of
f VJT.OOO.OfX), $!oi,o.V),f.oo pledged und only
S-'.,wi,iwu burpliis, to talk of 11 aintan j
the two metals on n paritv is the wildest
scheme of imagination.
A Tusk for the Almighty.
"We cannot maintain the parity between
silver and gold. Better build upon air 01
the phantoms which float above us. I'i
nance is a hard physical fact. Create s
doubt or maintain a suspicion ind yon
may bring disaster. This very e Tort tc
bring about free coin:ii;e of silwr is, in
my opinion, doing more A disturb tin
finances of the country 1T..1 anything
else. The task of maintaining ihetwc
metals on a parity is lieiculean. It i.
more than that. It is a task that o ily 1 lit
Almighty could undertake. It is 1 einui
I feel this in every fibre of my system; it i
because I know so far as a nu u cai,
know what is in the future; that it is ut
terly impossible to maintain our c renin
tion upon such a basis, that I speak earn
estly on this subject. How can we do it!
What Shall We Do About It?
"Shall we Bell bonds? Bonds for olu?
The very effort would probably ii ipair
our credit and degrade us from our high
position among the nations of the world.
Shall we sell our silver? We have over
ftOO.OOO.OOO and only $6,000,000 or $7,0C 0,00(1
in circulation. The balance is stored
away in vaults and cellars as security foi
the various forms of paper circula ion.
Dare we sell that silver? I wanted to pro
vide in the law of 1890 for power to se 1 it,
but the parties would not agree. Now tc
attempt to sell that silver on a fal ing
market would only be adding misery to
Interrupted with Questions.
At this point Teller and Morgan began
to interrupt with questions. Morrill ob
jected, declaring the habit a pestiferous
one that had onlv recently been adopted
in the senate. He suggested that as Shr
man had already spoken two-and-a-half
hours the senate adjourn, and it v. as
Nothing Hut Talk in Congreas.
Washington, June 1. Sherman's grant
speech on silver in the senate vesterdi y
was delivered in a most effective mannet
and was listened to by an attentive senate
and by well-filled galleries. Many of the
Democratic senators gathered round the
speaker. Morgan, Pugh, Teller and other
silver advocates, as well as McPherson o!
New Jersey, rained a constant succession
of questions upon the speaker, who sail'
that the only result would be that ht
would occupy two days with the speech
instead of one. He had not concluded
when the senate adjourned.
The house started out with good inten
tion" to accomplish something with the
Dostoffice SDuronriation bill, but struck
snag in the clause providing for free deliv
ery. A vote over an amendment developed
the absence of a quorum and a resolution
was adopted revoking all leaves of absence
except for sickness, when the house
Will Run the Launches With Lightning.
New Yokk. June 1. The director's of
the World's fair have decided to introduce
electricity as a motive power upon the
launches at Jaakson park and have or
dered fifty to be equipped immediately.
This is drfne to prevent the annoyance
from soft coal to crowds of pedestrians
crossing the bridges as well as to passen
gers on the boats. The boats are to have an
average speed ol eignt miles an nour,
which may be increased by more batteries,
COEN TUMBLES DOWN WITH A RUSH.
Leaving a Cornering Clique with Any
where from S35O,0O0 to 500,000 to
Pay and Nothing to Fay With Pretty
Wives Witness the Slump Without
Knowing that It Means Their Hus
band's Ruin Defeat Met on the Edge
Chicago, June 1. For the second time
in nine months a corn corner has ended
disastrously. It was only last Septemqer
that "Deacon" S. V. White went up with
fl.750,000 liabilities and a "busted" corn
for an asset. Yesterday the Coster-Martin
crowd, after opening May corn at $1
and holding it there until noon, found its
checks dishonored and the corn it had one
moment before taken at f 1 going begging
at 50 cents a bushel. It all happened so
quickly and mysteriously that the bull
crowd found itself overboard and strug
gling before it knew what had happened.
Grievous News for Three Wives.
It was actually the fact that three pretty
and tastefully dressed ladies, the wives of
the men who left home in the morning
confident that the day was theirs, were
chatting gayly in the gallery of the board
for fifteen minutes after everybody on the
floor knew that it had proved a day of
ruin instead of triumph. Somebody final
ly charitably told the ladies that there had
been trouble and they hastily left. It
was a day of excitement; excitement for
everybody. At the opening there were
400,000 bushels of corn on hand the clique
Still They Bid for the Cereal.
Everybody was amazed that, at the tap
of the bell, there were traders on hand
bidding 61 for May. In the first fifteen
minutes about 300,000 corn was sold in the
pit at the tl price. This went on until
aft-r 11:31) and until the hour was fast ap
proaching when the deal would close.
People did not seem to apprehend trouble.
With little more than sixty minutes left
it did not seem to occur to anybody that
there was a possiblity of danger.
Trouble Over a ( heck.
The first intimation was a little excite
ment over at the sample table of P. B.
Weare. Then there was a rush toward the
office of Coster-Martin, in the Kialto
building. Within less than a minute it
was known that there was some
trouble over a check; within
less than another minute that the
Bank of Montreal was refusiug to certify
Coster-Martin's checks for cash corn sold
by Weare. In less than five minutes after
the first intimation of trouble there was a
pandemonium in the pit and 100 men were
bow-ling themselves hoarse in an effort tc
Down Went the Corn.
From fl the price went to 80 cents with
out any stops. Krazier jumped up and
down in an excited effect to sell, offering
at 70 cents and at 60 cents, while laggards
hardly comprehended that trouble was on.
The decline never stopped until the price
went down to 4H cents. The close was at
50. This meant a loss to the Coster-Martin
clique of from fc50,0o0 to $400,000, and
a lose to the trade larger than resulted
from White's failure. If the firmhad had a
million ot money behind it at 6 o'clock
yesterday morning it could have carried
the deal through and have made a fortune.
If it had had but i5X),000 it could have
HOLY WRIT INFALLIBLE.
So Says the I'rpfiliyteriaii AHHCinhly Ad
journed Sine Die.
Poktlanii, Ore, June 1. The Presby
terian general assembly adjourned yester
day to meet at Washington in May of
next year. An overture was read and
adopted declaring the Old and New
Testa i ent mspited and infallible coming
from the hand of tiod without an error.
This was declared fundamental and bind
ing on all ministers, elders and presby
teries. World's Fair and Sunday.
It was recommended that if the World's
fair be kept open on Sundays the church
exhibit be closed and that congress make
no appropriation if open on Sundav.
Then the Union seminary case came up
and the moderator left his chair and spoke
in favor of holding Union to the compact
of 1S70, and of control by the assembly of
its theological seminary.
To Arbitrate the Question.
Resolutions were adopted in line with
the moderator's remarks holding the
seminary to the compact, and providing
for the reference to the question of inter
pretation of that compact to arbitration.
The moderator appointed Dr. Green, Pro
fessor T. A. Robinson, D. A. Hutchinson,
W.Ernst and John J. McCook to nomi
nate a committee to represent the as
Indiana Gas Men Organized.
Indianapolis, June 1. A formidable
combination of natural gas companies
bos been effected in the Indiana gas field
and adjacent territory dependent upon it,
and the parties to the consolidation now
believe that they will be able to prevent
the piping of gas to Chicago and at the
same time maintain prices and prevent
that friction which, in some localities, has
made the fuel so cheap. The combine pro
poses to take possession of the cream of
the gas field and build extensive systems
of pipe lines inside the state.
Blood Poison from a BaEor.
CLEVELAND, June 1. Charles H. Sey
mour, a prominent furniture dealer, died
Sunday under peculiar circumstances.
The immediate cause of his death was
blood poisoning contracted through a cut
inflicted upon the face with a razor while
in a barber shop. The virulent poison
spread to all portions of his body and
formed innumerable ulcers both internal
and external. Nine physicians labored
over him in vain.
Mrs. Lincoln Coming Home.
London, June 1. Mrs. Minister Lincoln,
who with her daughter sailed for New
York yesterday, will pass several months
in the L mted States.
Dashed to Death Down a Shaft.
Scbanton, Pa., June 1. John Brown
yesterday fell down the Church Coal com
pany's Bbuft, which is 200 feet deep, and
was dashed to death.
Tolstoi Seriously III.
St. Petersburg, June 1. Count Leo
Tolstoi, the Russian novelist and social re
former, is critically ill.
Su. Mo. Tu. We. Th. Fr. Sa.
12 13 Jl JL5 16 17 18
19 20 21 22 23 24 25
26 27 8 "29 "30
The fifty-fifth annual convention of the
Episcopal diocese of Chicago is in session,
Bishop McLaren presiding.
Heavy rains are reported from many
foints in Missouri and a snow storm from
lugo, Colo., four inches falling.
John Sprohs, part owner of a saloon at
Washington, was found dead in a chair in
the saloon. He had shot himself through
At Johnstown, Pa , a monument has
been unveiled to the unknown victims of
the great flood which almost destroyed
that city three years ago.
The grain sent from Iowa for the relief
of the famine sufferers in Russia has been
unloaded and dispatched to the distressed
provinces. It filled 310 cars.
Emperor William reviewed the Berlin
garrison in the presence of Wilhelmina,
the little queen of the Netherlands, and
her mother, the queen recent.
Six bookmakers selling pools on races
ontside Chicago were arrested at Garfield
park in that city for violation of the city
ordinance on that subject.
Colored people at Chicago and other
cities, met in their churches yesterday and
prayed far a cessation of the oppression of
their race in the United States.
Oklahoma is again flooded by rising
rivers. At a point west of Oklahoma City
John Henderson, his wife and three child
ren were drowned in Canadian river.
Corn broke from 1 to 49 cents per bushel
on the Chicago board of trade and Coster
Ac Martin, the firm running the corn
corner, went to the wall with unknown
liabilities, estimated at over 200,000.
Pretty much every citizen of Taney
county. Mo., is in hiding by order of the
"Bald Knobbers"" to avoid serving as jurors
or witnesses in the case of the murder of
Deputy Sheriff Williams by a lynching
Three counties of Colorado corner at
Creede, the lately developed mining camp,
and three sets of officers are quarreling
over which shall have custody of a mur
deress, while the latter is having a "good
time" at the dance halls, perfectly free.
The wife of William J. Hinley, of
Bayonne, N. J., has eloped because her
husband objected to her spending a large
proportion of his income for candy. She
left a note saying that the other fellow
would let her have all the candy she
Fatal Mine Explosion.
Wilkesbarkk, Pa., June 1. An explcr
s ion of gas occurred in the West End coal
mine at Mocaququa Tuesday morning,
where eleven men were at work. Two of
the miners are dead and all the others are
seriously burned. The cause of the ex
plosion is unknown.
Arrested for Treason at Honolulu.
SAN Fkancisco, June 1. Advices by the
steamer Australia from Honolulu state
that Robert Wilcox, leader of the insur
Jection a few years ago, and sixteen oth
ers have been arrested for treason.
The Cholera in Cashmere.
Calcutta, June 1. The cholera
epidemic at Brinagt-r in the vale of Cash
mere continues its terrible course. In the
last four days out of 1,731 persons attack
ed yiH) have died.
The Base Hull l:Trd.
CniCAC.o, June 1. Following are the
scores recorded w League Imsj ball clubs
yesterday: At Washington Chicago
Washington 4; at Baltimore Pittsburg 3,
Baltimore 4: at Boston Cleveland 1. Bos
ton 2; at Philadelphia Louisville i; Phil
adelphia 4; at New York St. Louis 3,
New York 8; at Brooklyn Cincinnati 1,
Western: At Fort Wavne Toledo 2,
Fort Wayne 14; at Indianapolis Colum
bus 2, Indianapolis 1. Illinois-Iowa: At
Terre Haute Lvansville 1, lerre Haute 3.
It is not what its proprietors say, but
what Hood's Sarssparilla does, that
makes it sell, and wins the confidence ot
A ivrompt return
of your money, if you get neither
benefit nor cure, llisky terms for
the doctor, but safe and sure for the
patient. Everything to gain, noth
ing to lose. There's just one medi
cine of its class that's sold on these
conditions just one that could be
Dr. Pierce's Golden Medical Dis
covery. It's a peculiar -way to 6eU
it but it's a peculiar medicine.
It'B the guaranteed remedy for all
Blood, Skin and Scalp 'Diseases,
from a common blotch or eruption
to the worst Scrofula. It cleanses,
purifies and enriches the blood, and
cures Salt -rheum, Tetter, Eczema,
Erysipelas, and all manner of blood
taints, from whatever cause. It
costs you nothing if it doesn't help
you. The only question is, whether
you want to be nelped.
"Golden Medical Discovery" is
the cheapest blood - purifier sold,
through druggists, because you
only pay for the good you get.
Can you ask more?
The " Discovery " acts eauallv
well all the year round. Made by
the "World's Dispensary Medical
Association, . at 5G3 M.iri Street,
No. 1804 Second Avenue.
WOODYATT & WOODYATT.
This firm have the exclusive sale for this county of the
Pietros etrjei Orirarjs.
WEBER, 8TD YVES ANT, DECKER BROS., "WHEELOCK
ESTEY, AND CAMP & CO.'S PIANOS,
And the ESTEY, "WESTERN COTTAGE and FAR
RAND & VOTEY ORGANS.
EVA fn also of small 31 epical merchandise. We have in our employ a fim-c'.&'s P:ro Tzter
$4.00 per Month for Ten years,
or $6.00 per Month for Six years
Pays Principal and Interest and seeures you
a Deed with Abstract of Title.
ON EACH PLAN.
PRICES WILL BE ADVANCED.
Come early and secure choice locations and lowest prices.
BUFORD & GUYERS Addition.
Apply to J. M. Buford or E. H. Guyer.
m, & P E CTAC LE S
The Finest SAMPLE ROO.M in the Three cities.
Always on hand a replete line
gars and Liquors. Milwaukee Beer always on aratt.
Two doors west of his old place.
A fine lunch from 9 to IS every morning. Sandwiches of all kinds always oa hand.
Billiard Parlor Sample Room,
No. 117 Eighteenth Street.
JAMES T. O'CONNOR, Proprietors. WM. H. CATTON.
Are You Incredulous?
You say you take very
Little stock in
DON'T BLAME YOU.
We are that way
Their's lots of chaff in
Occasionally you find
GOLDEN GRAINS OF
WHEAT. As good as
Gold and better than
Wheat are the
LOCATION 3Sth ST.
PROTECT YOUR EYES I
The tli-tm n OrtMcias of ? O.-.ve St.
(V. E. ro; ?:han.1 O'.ivt i, it. Loa:. ha
arroirtedT ll. Thrma ts a?, r.t for !.:?
cel. I r e" Diamond S;c:ac:i :.r 1 Eyc
ri.i-e. and t'.to for lii Diarvvd Nor.
Char.Lvab:e ircctaclee ani Eyaf-.
Ihe H! are the weate'. n-vcttinc
ever m:itK ;n spectacles. ISy .1 ;.tv;::
construction of the LeLS a pernor. p"r
chasiijg a pair of thee Non h iiit'e-irile
Glasses never hae to chant e t!..-.-
from the eyes, and evay tar ; archwed
guaranteed, eo that if they ci r leave
the cyer (no matter how or -err. -rhodtLe
Lenses are) they will fumis-Ii -Le ;ur.j
with a r.ew pair of Elae? free of cr. arce.
T.H.THOMAS haa f: : aoor.mert
and invites ail to s&!ifv themselves
of the great siiperioriti of t:.e-e G'.ise.
over any and all otter now in :-e to c&'.i
and examine the same at T.H. 1 (jonias',
druegist and optician. Koc s Ir.asi.
No Peddler Supplied.
of Imported and Domestic Ci
BARGAINS we offer this
Week in CLOAKS,
Weather has been most
Unfavorable as you
Doubtless know, and we
Have too large a stock
Which must be reduced,
Hence the VERY LOW
PRICES FOR THIS
Second Street, Davenport.
; any years. .