Newspaper Page Text
TIIK AJiU V S, I BID AY, J LTN E 30,
Highest of all in Leavening Power. Latest U. S. Qoy't Report.
INDIA AND SILVEK
The Subject of Remarks by W.
SEASONS FOB THE BRITISH MOVE.
Bow DprtriatlnK Silver AflVrted Hindoo
Latiorrra t'olormlo Producer Resolve
to Stop Oie Output kimI Throw 30,000
Men Out of M'ork Cinrlnnntl Trmlcn
rnHiM a Solution of the Problem Car
lisle's Comment a island full of Fight.
New York, .June 30. William L. Tren
holm, president of the American Security
compacy, who in a recent visit to India
made a special study of the currency of
that country, hns the following to say on
the silver question: "News about the clos
ing of the mints of India is to the effect
that the mints will no longer coin rupees
for private account. That means, if I am
not mistaken, that the Indian government
is going to Io somewhat like our govern
ment refuse the free coinage of silver.but
use the mints for the coinage of govern
ment silver. There is, however, this dif
ference between our act inn and that
which is supposed alxnit to be taken in In
dia, and that is that the action of this gov
ernment was under the direction of the
law w hich prescrilicil periodic purchases,
while if the Indian government buys silver
and hits it coined they may buy where
they like, when they like, and will proba
bly lie able to buy very cheaply.
Effort on ltiilia'n Revenue.
"The finances of the government of India
have been for a long time very much mi
larra.sed by the fact that the government
is under obligations to pay its European
employes and pensioners in gold." The.
government needed more money, but tha
people wore already taxed to their ut
most capacity. They know no other
standard of value but silver and "conse
quently durins the lift ecu years of declin
ing prices in the value ot silver tne masses
in India have lx-en going on giving the j
same amount of labor and the same
amount of property f-T the rupee that J
they have tx-en accustomed to give to that
coin during long antecedent periods." j
With the mints closed to private coinage
the government can buy for the gold value
of one rupee enough silver to make tro,
thus largely increasing its revenue.
Itetter Market fr Enslish (ioiula.
"The second reason,"' said Mr. Trenholm,
fcfor the action of the government is to im
prove the market in India for English
manufactures. As long as the price of sil
ver was constantly declining in England,
and the estimated value of the rupee in
India remained fixed in the minds of the
people, there was a very considerable profit
in exporting silver bullion from England
to India. This resulted in increased ex
ports to England from Indi, while the
amount of English manufactures Bhipped
to India was diminished; lirst, because a
large part of such exports was displaced
by the increased exports of silver; and,
secondly, because the rising rates of ster
ling exchange in India made English goods
too dear for the impoverished people of
India to buy in as large quantities as they
had previously been accustomed to. No
doubt the government of India in deciding
to close the mints had in view the proba
ble effect of thereby increasing the volume
of English; products exported to India.
toiMnch Silver Production.
"The third motive which may have op
erated on the government of India was to
check the over-production of silver. It
has ben abundantly proved that the de
cline in the value of silver, which began
about 1878, was caused primarily by
cheaper processes of production leading to
an increased volume of production. When
this disturbance of the normal relation be
tween demand and supply had begun to
show its effect in lower prices for silver
bullion the wisest silver using nations of
the world began to limit their coinage of
that metal and a few years afterward
nearly all the European mints were closed
to the free eoinage of silver." Trenholm
closed with the declaration that the Sher
man law must be repealed.
COLORADO MINERS TAKE ACTION.
They Will Clixwt Their Mine and Throw
30,000 Men Out of Work.
DENVER, June 30. Silver mining and
smelting in Colorado will cease. This de
cision has been reached at a meeting of all
the leading mine owners and managers of
the state held at the Brown Palace hotel.
The mines cannot lie operated at the pres
ent price, and to stop further loss all opera
tions will come to a standstill, and 25.000
to 30,1x111 men lie thrown otit of employ
ment. There was a large attendance at
the meeting. Ex-Governor J. U. Grant, of
the Omaha and Grant smelter, the largest
concern of its kind in the world, was made
chairman. ' A committee on resolutions
was appointed, which was out of the room
but a few minutes.
The resolutions reported and unani
mously adopted were in substance that,
whereas, "It appears from the continued
attacks on silver by the monometallists
of the United States, England and other
nations that there exists in their minds
(induced probably by the product of an
exceptional and phenomenal mine) the
Idea that the metal is so abundant and
the cost of production so little as to justi
fy the depreciation of its value; and
-whereas, from years of experience in min
ing, milling and smelting we are in a po
sition to more thoroughly and correctly
know the actual cost of producing silver,
and have in the hope that its market
value would more nearly approximate its
intrinsic value by its rehabilitation on
some equitable basis, kept our men em
ployed in our mines, mills and smelters,
though at a loss to ourselves in general.
"Therefore, as this hope is dissipated,
mine owrers put a atop to the losses by
complete cessation in thia state in the full
belief that the monometasllt will finally
appreciate thiee vital points:
"1 That. t.h world cannot transact its
business without "the ' use or silver as
"2. That the actual cost and value of the
metal far exceeds the incorrect views
which they have formed.
"8. That the inevitable course of events
will quickly demonstrate that the enor
mous sums of money invested in railroads,
loans and other property will so depreciate
in value that the monometallists will also
be convinced that some action must be
taken with silver to restore it to its legiti
mate use, which it has had from time im
memorial." Senator Teller thus expresses himself:
"The statement made in the public press
that they the India government intend
to give a gold standard without a gold cur
rency means that they propose to take
tne rupees on a gold basis as to Its value
considered as bullion; in other words, they
would take the rupee, instead of at 47
cents, its mint value, at 32 cents, which
would lie about its gold value. I do not
con ider the action of the India govern
ment as alarming as the alarmist people
seem to think it is, nor do 1 Iwdieve that it
will aid in the rejieal of the Sherman bill."
MORE TALK AT WASHINGTON.
Secretary C arlisle Cietting a Whole Lot of
Washington-, June 30. Secretary Car
lisle receives numerous callers, among
whom are many members of congress.
With all of these the silver question forms
the principal topic of consideration, and
the continued decline of the price of silver
is naturally adverted to. The secretary
had received -a cablegram stating that the
price f silver was yesterday in London
tiSVj cents per ounce, at which rate the sil
ver dollar as bullion was worth 53 cents.
Nevertheless the point, the secretary said,
was of course apparent that the purchasing
power of the silver dollar, with silver bull
ion at tiM cents per ounce, was as great
today as it was when silver was worth
per ounce and the bullion value of the sil
ver dollar was JH cents.
It should be equally obvious that this is
so because It is known that the credit of
the United State is behind its silver
money as it is behind all of its other forms
of nu.ney, and without which none of
them, except gold coin and gold certifi
cates, won Id be wurth their par value in
the money markets of the world. This
fact was several times emphasized at tle
last session of congress when ex-Secretary
Sherman and others repeatedly declared
luring the senate debates that there was
in the treasury the bullion gold value of
every silver certificate issued by the gov
ernment. CINCINNATI VIEW OF THE CASE
The Itou-.-.l or Trmle C ommittee lias ISeen
Cincinnati, June 30. The Jionrri of trade
has had a committee at work on the silver
situation, and the committee has reported
that the present derangement in business
will continue until relief lie afforded by
congress. It therefore recommends a me
morial to the president of the United
States asking him to call congress in
special session at the earliest day practica
ble, and that he recommend to congress:
First The speedy and unconditional re
peal of the silver purchase law.
Second That national banks lie author
ized to issue bills to the full face value of
bonds deposited, by them to secure their
Third That the present coinage of sil
ver be called in, and that it together with
silver held by the government at the date
of the passage of such an act, be recoined
and put in circulation as fast as demanded
by the wants of trade and commerce,
at a new ratio to gold based on the pres
ent value of silver iu the markets of the
world, so that a silver dollar will lie in
trinsically worth a gold dollar.
"It seems to us that such action would
speedily restore confidence, increase the
volume of sound money in circulation
adequate to the wants of trade, allow
business to renew its normal progress and
insure stability of our finances for years
Illand Flghta on the Old Line.
ST. Locis, June 80. In a letter to a
paper, Illand defines his position in re
gard to the silver question. He says: "I
sought to repeal the Sherman law at the
first session of the last congress by a bill
substituting a free coinage law. I pro
pose to continue the fighting on that issue.
The repeal of the Sherman law is not
to my mind the issue now presented. The
issue made by the gold party is shall we
totally demonetize silver by the rejieal of
the only law we have looking to the future
use of silver as money in this country.
The bill that repeals the Sherman law
must also embrace the principles of the
other part of our national Democratic)
platform; that is, the restoration of silver
as the co-equal of gold in our monetary sys
tern. This must be done by legislative
enactment, not merj empty resolve."
It IJoenn't Worry llauser.
HELENA, Mont., June 31. Ex-Governor
llauser, chief owner of the Helena smelter,
which is turning out about ?:S!SO,000 in
bullion every month, says it will not close,
as there is enough gold and lead in the
ores of Montana to keep it running in
spite of the low prices of silver. Mr. llau
ser says the present situation will cause a
reaction in favor of silver.
Silver Republican of Kansas.
ToPEKA, Kas., June 30. A movement
has been started here for a state conven
tion of silver Republicans opposed to the
repeal of the Sherman silver law. Judge
James Scott, n life-long Republican, says
the convention will lie called within ten
days. At this convention re iolutions will
be adopted protesting against the repeal
of the Sherman law.
Millers Nearly Unanimous.
Chicago, June 30. At the meeting of
millers at the fair grounds a resolutior
was adopted unanimously, except one vote,
declaring for the repeal of the silver pur
chase clause of the Sherman act the first
thing when congress meets.
JIX lllo cuipiwjw, " -T
of the Nashville cottpn mills, have BtfUG
against an attempt n reduce wansfc
RIGHT OF REMOVAL
An Old Question Up in a New
- ' Phase.
OFFICE HOLLERS REFUSE TO "GO."
Insist on Staying Their Full Four Years
How an Alabama Jnilge Got Around
the Point. Which Is Still Undecided by
the Courts A Territorial Official Who
Decline! to Vacate Caleb Cn thing's
Washington, June 30. The question of
right of the president to remove a public
official before the expiration of his term
of four years without assigning cause
comes up in a new phase. Certain old offi
cials in Alabama set up the claim that
the president had no power to remove
them before the end of their terms. One
of them was the old United States attor
ney, who refused to give way to the new
appointee. The matter came up in court
and while the court did not render any
decision involving the case at issue it cut
the gordian knot by simply recognizing
the new appointee and refusing to listen
to the old United States attorney.
Now Comes a Territorial Judge.
Now a judge in one of the territories re
fuses to turn his office over to the new
judge appointed by President Cleveland,
and Attorney General Olney is somewhat
embarrassed by the situation. The old
judge is "removed" on paper, but physi
cally he is in possession of his oflice today.
There are also several old trensury oflicials
who resent their removal to the extent of
threatening toappeal the cases tothe court.
These cases ditTcr from the cas-s in the
department of justice in that the removed
persons held their commissions from the
secretary of the treasury instead of the
Illht in HlKh OIHeiMl Circles.
Some doubt is expressed in high official
circles as to the absolute right of removal
of a person holding a presidential commis
sion. The late Caleb dishing is usually
quoted by tho- who entertain this view.
In a legal opininn rendered while he was
attorney general he argued at some length
against the right of absolute removal of
officials who were appointed by the presi
dent "with the advice and consent of the
senate." His deduction was that the same
power that consummated the appointment
must lie ojHTate iu making the removal.
Cashing' Opinion Not u liule.
The opinion, however, seems to stand
alone, and during all administra
tions the power of removal has been ex
ercised by the president, and now that
the paragraph of the tenure of otlie act
relating to the term of service has been re
pealed it is contended that there is noth
ing in the law that abridges or qualities
the riuht of the president as to removals.
Still the quest ion is an undecided one as
far as the courts go. The attention of the
civil service commission has lieen called to
the stibipet br some of those recently af
fected WHEAT TAKES A BIG SLUMP.
lliiivu to It Price Not Itelirhed for Thirty
CllK'Mio, .Tune 3.1 Wheat of contract,
grade No. "J regular sold on the board of
trade at (i- cents a husbel yesterday, break
ing all previous records since WVT. A feel
ing akin to a panic prevailed on 'change
and traders ran around asking each other
what the matter was end when it was
going, to end. Of the d zens of explica
tions given to account for the low price
that most commonly advanced was the
silver agitation, and it further support of
this proposition it was cited that the price
of bullion had drooped t. fc! cents, which
would bring the silver dollar down below
50 cents, measured by uol.l. Just why a
decline in the commercial value of silver
should unfavorably effect the price of
wheat was not explained. The real reason
why wheat is selling so low is the fact
that there is more cash wheat iu sight
than speculators and consumers want.
HAD A CLOSE CALL FOR A HORROR.
Three Hundred Kxcnralonlata Break Down
a River Wharf.
Grand Rapids, Mich., Jtyie 30. Three
hundred Independent Order of Good Temp
lars excursionists had a narrow escape
from death. The lodge had chartered the
steamer Valley City for a moonlight ride
down the river. When the boat landed at
the wharf the entire crowd made a rush
to secure desirable places board. As they
did so the center ' of the idock collapsed,
precipitating about 150 persons down eight
feet, just to the water's edge.
Then a small panic started, strong men
pushing the weak aside and trampling
over women to escajie apparent death.
Somebody turned in police and ambulance
calls, but when the officers reached the
spot there was but little to do, cooler
heads has'ing extricated the victims from
their position. About a score badly
bruised and were taken home. The bal
ance made the trip down the river.
The government lluln at Chicago.
Chicago, June 80. Commissioner Toolen
directed Building -Inspector Chenung to
examine the government building and re
port on its c nidition. The report of the
inspectors will probably, pronounce "the
building unsf fe and recommend that it be
condemned. Commissioner Toolen will
notify Secretary Carlisle of the condition
of the building and iu the event of any
catastrophe the responsibility will be
clearly lixed on the United States government.
Fleming & Ayres' shingle and lumber
mill at Ballard, a suburb of Seattle
Wash., was burned to the ground. Loss,
130.000; insurance, i 30.000.
Conductor Charles Foster, of the Mich
igan Central, who was shot . by tramps
whom he ejected from a train atDowagiac,
is recovering and will probably live.
D. E. Egbert, aged 72. en route from Bed
ford, O., to Billings, Mont., jumped from
a train near Bismarck, X. D., at midnight
and was killed. He had shown symptoms
DeWolf Hopper, whose second wife re
cently secured a divorce from him, has
married Miss Edna Wallace, of Charles
Obituary: At Kansas City, Major Will
iam 1 Overton, aged 06; at Augusta, Ga.,
Editor William H. Moore, of the Augusta,
Evening News; at Columbia, S. C, ex-Congressman
The grand jury at Decatur, Ills., has
failed to indict any one for the lynching of
Sam J. Bush, and has been discharged.
The jurymen voted to indict forty-three
persons, but when the bills were returned
to them they reconsidered their action.
The grounds of the Missouri State Fair
association, containing forty-seven acres,
near Sedalia, Mo., were sold under a deed
of trust to Charles A. Caldwell, of Alton,
Ills., for 21. too.
It is said at Detroit that the Pullman
car shops now located there will close and
all the interest will be united at Pullman,
Some memljcrs of London's smart set
are attempting, by force of example, to re
vive the wearing of knee breeches as a
fashion of evening dress.
A bill granting monetary assistance to
poor settlers, in order to facilitate the set
tling of the colony, has passed the New
South Wales parliament.
Mrs. Julius Collins, of Oak Cliff. Tex.,
administered poison to herself and three
little childJen. Physicians say they can
save the children, but that Mis. Collins
will die. Poverty and a dissipated husband
drove Mrs. Collins to the desperate deed.
The catch of the seal poachers in Alas
kan waters is expected to reach 70,00U
skins, a larger number than ever before.
It is stated that the Panama Canal
works will Ik- resumed at the end of
and that already 50,000,000 francs have
been raised for the purpose.
A new French torpedo boat, theLansque,
net, attained a si K'ed of twenty-six knots,
nearly thirty miles an hour, on her official
trial two weeks ago. The boat is the fastest
craft in the French navy,
Governor Altgeld, of Illinois, was
hanged in effigy by citizens of Xaperville,
that state, to show their indignation over
the pardon of the anarchists. v
The JefTersoni.m Democratic club of
Lake View, Chicago, has adopted resolu
tions endorsing Ixith Governor Altgeld's
pardon of the anarchists and his con
demnation of their trial.
Vice Admiral Sir Michael Culme-Scy-mour
has been appointed commander-in-chief
of the British Mediterranean station
to succeed Vice Admiral Sit George
OTICE IN ATTCIIMKNT.
STATU OF ILLINOIS, (
liorK IeuKiiC rTT. t
Circuit court of Korii Island conniy. September
term. A. D.
The People's National Hank of Hock Island, 111.,
v .'. W. Mooter, in uttuchmt-nt.
Public notice is urrebv rtvt'n to tbe said C. W
Mfwlir-r tha- u w rit of attachment isnncd out of
the oTire of tne clerk of the circuit court of Itock
Island lounty, tinted the Stiih day of May. A.
I. lS'.H, a; Ibe suit of the said People" National
Wank and aainrt the estate of tne said C. W.
1 Moslier ior the sum of Ten Thounund ($10,000,001
, dollrts, directed to the sheriff of paid liock Island
j enmity, which naid writ ha leen returned exe
j Now, therefore, unless you. the said C. W.
s Mihrr. Khiill nernonalW be and nmcar before tha
said circuit court of Rock Island county on the
nrst day of the next term thereof, to be holden at
the court house in the city of Rock Island, in said
county, on the 4th d j of September. A. D. lfWJ,
cive special bail and plead to tbe said plaintiff's
act'on. judgment will be entered apainst you, and
in furor of the aaid PeoDle'a National Bana. and
so much of tbe property attached as m ay be sof-
Bcient to salisrv the said judgment ana cosib, win
bs sold to satisfy the name.
GEORGE W. GAMBLE, Clerk.
Jas. L. Haas, Plaintiff's Attorney.
Junes. A. I. 181.
Treasury Appointment Agreed Ion.
Washington", June 3t). A large number
of treasury appointments have been agreed
upon by the president and Secretary Car
lisle. Among them are J. F. Tillman, of
Tennessee, for register of the treasury, to
succeed General liosecrans, resigned; Mr.
Cade, for superintendent of the New Or
leans mint; Mr. Morgan, for coiner; Mr.
Guion, for melter, and Mr. Schroeder, for
assayer, all at the New Orleans mint.
Expecta the Conference to Keaanemble.
Brussels, June 30. Replying to a ques
tion in the chamber of deputies M.
Bernaert, the president of the council and
minister of finance, stated that the time
was ill chosen to discuss the probable ef
fects of the India monetary questions on
the silver interests of the nations forming
the Latin union. Ue added that the in
ternational monetary conference would
probably be rwembled in Brussels shortly.
Una Resigned His Office.
Washington', June 80. Daniel Hogan,
collector of internal revenue for the Thir
teenth district of Illinois,, has resigned.
Is Life Worth Living?
That Depends Cpon Your Health.
Will cure you and keep ycu well.
Kor sale at Ilarper House Pharmacy.
Wholes lie Dealer and Impo rter of
Wines and Liquors.
1616 nd 1618 Third Av
Get Out ol tne Hot City
And take a trip on the Mifsisalppl. "."
rj f Charlotte Boeckelern
'.wtllmakejregular Wednesday and Sunday
" jr'aniily Excursions? CZD
to"3)ffereiit points on the riverl-OMo"Orchestra
of 25 Musicians will furnish conceit and dance
music. Tickets its cents, children 15 cents: Clin
ton, Muscatine and other distant points 60 cents
round trip. -s - MiH
Steamer nnder tha persocal charge of Captain
McCaffrey .fc Kor charter terms address or call on
CHA8. T. KINDT,
Geo. Manager Burtia Opera House.
Please remember that our entire stock of
Dry Goods, Notions, etc., is
NN N FKKK W W w
N N N K WW W -W
N N N K
N NvN Y.
N N N KK
N N N V.
N N N K.
N N N K
W WW W
w w w w
By inspecting our stock you wiil see that
the same is well assorted and all goods are
sold at, the lowest possible price. Please
give us a call.
KLUG, HASLEP, SCHWENTSER
Dry Goods Company. Davenport, I0wa.
Cut- in Half.
We give a. few of the bargains which we will
offer this week:
Japanese tea-pots 12, 14. 17c
While granite plates. .rin i:!e
si!e dishes o."o
eoA'crei! Mijjars 1.1c
White irrar.i'.e kik r-
1 ijt 1U1i p:ni. . . . '
s in pie tin- .......
Everything in the store will be slaughtered this
week. Everything must go. Come early and
avoid the rush.
Geo. H. Kingsbury
FAIR AND ART ST0RF.
Driffill & Gleim
-Keeps the finest line of
IN THE CITY
DRIFFILL & GLEIM
Under Harper House.
DOLLAHS for SEVENTY-FIVE CENTS
Were we to give you silver dollars lor nc
it wouldn't take you long to decide to come
for them, would it ?
Well we're not exactly doing that; but we re Wuinz
the profits go on all trmmed hats and bonnets f,,r
ladies and children, and aie thus giving y " a dollar
in value for ?5c In money. This sale is going on this
Si.00 Hats cut to 1.50
$2.50 " " $1.85
$4.00 " " $3.oo;
$5 00 " " 3 25
and nil intermediate figures are proportionally r
duod. World's Fair spoons given away with even
purchase of $3 or moie.
114 West Second street Davenport, Iowa.
Ladies' Suits and Jackets nearly Given Away