Newspaper Page Text
THE ROANOKE DAILY TIMES.
VOL. XIV.-No. 310
PKIOB TUKBB OKMT8.
ROANOKE, VA., WEDNESDAY MORNING, OCTOBER 16, 1895.
^"iABSOOIATBD PRESS TBIEQBAHR
A1X IHM NEWS OF IBB ?OBXD. '
Forecast for Virginia: Generally
fulr; light variable winds.
' ~~) Our Roof Paint
sticks where we
) put it.
Roanoka Roofing and Metal Cornice Co.,
Oommorco Ht. and Franklin Komi.
J. R. COLLINGWOOD,-Manager.
- 'Phono 228.
And spots or dirt of any
hind, can be removed
from any article of
clothing, at trifling!
cost, with our
Russian Cleansing Fluid,
Having employed one of
Norfolk's best cooks, wo
are picpared to serve the
public with the best oysters
that was ever served in the
Special Invitation to ladies:
We have two separate Din?
ing Parlors, and the politest
attention iu the city.
Oystors Received Fresh Every Day
Hot Water Bottles.
Don't yon need an Autom
Ixer? ?V e have them from
Perhaps a hot water bottle
Is what yon want. I'riees
range from 60c up.
Household Syringe* of the
very best rubber. Satisfac?
tion guaranteed. Aiiy~t?rlce
you wish. From ::.">(? up.
The Ladies arc cordially In?
vited t? wait. In our store lot
the streel cars.
CHRISTIAH-BAHBEE DRUG STORE
Cor. Salem Atc. mill Jefferson St.
I beg to announce the ar?
rival of my Fall selec?
tions in Diamonds,
Watches, Fine Jewelry,
&c. They have been
selected with special
care, and are of such
design and character
not to be found else?
where In this city. On>y
the highest grade goods,
at prices as low as such
goods can be sold for.
I invite inspection and
assure polite attention.
All correspondence promptly answered.
EDWARD S. GREEN.
Manufacturing Jeweler end Qrsdnate Optician,
No. 6 Salem Avenue.
Kyes Examined "We
.Free of Charge. Wholesale
HERE'S SOME HOME HISTORY
Action of the City Council on an
How an Effort of the Boanoke Oas and
Water Company to Prooare Exclusive
Condemnation Privileges for Use of
Springs in tbe Vicinity of Boanoke
Was Besented by the City's GuardlaDB.
From The Times ot February 20,18S1.
City Council held a oilied meeting
last night and passed resolutions asking
the senator and tepresentatlves from
the Boanoke district; in the general
assembly to do all in their power to do
(eat tho senate, bill now pending en?
larging the power of the (Us and Water
Company. After this had been dis?
posed of there ensued a soone between
members of the body, which, for splci
nosa and rich repartee and denuncia?
tion, rivaled any of tho previous per?
sonal controversies which have ever
arisen in Council.
The meeting was called to order at 8
o'clock with the following members
present: Boehm, Crablll, DavleB, Dicker
son, Fackcnthall, Graves,Groves, John?
son, Hough, McClelland, Moomaw,
Pattie, Ramsey, Stevenson, Strickland,
Terry and President Buckner.
Tho clerk road tho call of tho presi?
dent and at tho request of a mem?
ber tho bill now pending In tbe senate,
granting a new charter to the Boa?
noke Gas and Water Company. By
common consent Bection H was tbe ob?
jectionable feature In tho proposed bill,
which reads as follow*:
"0. Tho said company is also horoby
authorized and empowerod to acquire,
by condemnation proceedings, lands or
springs, or other sourcosof water supply
needed for tho purpose of said company
in cases whore the said company and
those entitled to said land or springs, or
other sources of water oupply, cannot
agree upon the terms of purchase And
wherever it Bhall bo neceBaary for tho
said company to condemn property it
shall proceed in accordance, with section
1072 and the following sections of the
codo of 1887, before tho court of the
county or corporation in which said
landB, or tho greater part thereof, or
where Buch springs or otbor sources of
water supply may bo situated, and tho
proceedings shall, in all respects, con?
form to the provisions of the codo, in
reference to tbo condemnation of land
for tho benefit of companies incor?
porated for v.orks of internal improve*
Mr. GraveB stated thatsince the reso?
lution ho would offer had been prepared
he had been c?lled upon by a represen?
tative of the Gib and Water Company,
saying that the portion reiating to tho
condemnation proceedings would be
stricken out, and also that Maiager
Bawn, of the Gas and Water Company,
has gono tn Bichmond.
The resolutions offered by Mr. Graves
"Whoroas, There has been Intro?
duced in the State senate of Virginia a
bill known as senato bill Mo. 322, pro?
viding a new charter for the Boanoko
Oaa and Water Company of Boanoko,
Va , in which are many objectionable
features, and should said bill become a
law will prove detrimental to tho
Interest of tho city of Boanoke
and lta citizens. Now, therefore, bo it
"Resolved, That this Council, aB rep?
resentatives of tbo city of Boanoke, do
earnestly protest against the passago of
said Dill in its presonl form and request
Hon. J. Allen Wattn, the senator from
this district, lion. B 11. Logan and Hon.
M. C. Toomas, members of the house of
delegates from the Roanolce district, to
use their best efforts todefoat tho pas?
sage of the bill.
"Ho it resolved, That the aforesaid
Benator and representatives be, and are
heroby, requested to use their best
efforts to defeat any legislation which
vestu in the Boanoke Gas and Water
Company the power to Institute con?
demnation proceedings for acquiring
land, water or other real property for
it uses; and,
"Be It further resolved, That tho
aforesaid senator and representatives
be, and are hereby, requested to trans?
mit to the clerk of the Common Council
for tho city Of Boanoko any bill which
has been, or hereafter may bj, intro?
duced to either branch of the general
assembly granting any additional
rights, privileges or franchises to any
qu&sl-public corporation operating
within the corporate limits of tho city
of Boanoke; and
"Be it further resolved, Tnat tho
clork of tbe Common Council bo, and is
hereby, instructed to make copies of
these resolutions and transmit the Bame
Immediately to the aforesaid senator
and representatives, to which cocies of
the aforesaid resolution Bhall be at?
tached the corporate soal of the city of
Boanoke, and duly attested by the clerk
of the Common Council."
Mr Graves made a brief speech in
favor of tbe resolution.
Mr. Bamsey objected to a portion of
the resolution that would prevent the
gas and water company from acquiring
lands to lay its pipe to carry water to
the city. Mr. Faokenthall took the
Mr. Buokner was opposed to granting
this company any privileges of condem?
nation of private property for their own
Mr. McClelland thought It looked
like a higb-handed move, and Council
ought to do everything it could to pro?
tect the Interest of the city under tho
The resolutions worn adopted by the
following vote: Ayes, Uoohm, Crabill,
Davles, Dickeraon, Graves, GroveB,
Johnson, Bough, McClelland, Moomaw,
Patlie, Stevonson, Strickland, Terry
and Bucknor?15. Nays, Fackenthall
On motion of Mr. Pattie, the city
solicitor was instructed to use every
effort in his power to defeat the passago
of the bill in its present form.
On motion of Mr. Buokner, Mr.
Crablll in the chair, tho utoik was re?
quested to forward a copy of the resolu
t tlon to the city solicitor.
TUB OBSTACLES OVBKCOME.
The American and British Ministers Se?
cure the Punishment of Chinese h loters.
Washington, Oat. 15 ? Minister
Denby and the British minister to China
have succeeded in overoomlng tho ob
s-acles which threatened to make tbo
Ku Cheng commission a failure so far
as it was intended to secure punishment
of the Chinese who were Rulliy of par?
ticipation in the riots at Ku Cheng,
wherein much damage was done to mis?
sionary property and great Indignities
heaped upon the missionaries.
At each stage the commission has
been hindored In proseouting its in?
quiries by the local Chinese oftlolals.
and tho_ viceroy of the provlnoe of
Szsohuan himself has stood in the way
of the punishment of the trullty parties.
Finally, an appeal was made to the
Tsung LI Yamen directly, and that body
has acceded to the domands of the min?
isters, as was evidenced by a cablegram
received at the State Department to
day from Mr. Denby, which ij sub
Btantially as follows:
"Peking. Oct. 11 ?Seventeen crimi?
nals will be executed at Ku Cheng.
The Yamen agrees that all leaders (In
the rioting) shall bo executed; all par?
ticipants sentenced and all implicated
shall bo tried. Tho commission will
probably be adjourned. An Imperial
decree has baen issued, which refers all
of the Szechuan officials Implicated to a
board for punishment."
It is supposed that the adjournment of
the commission referred to is based on
the fact that is has concluded its work.
It has been found Impossible heretofore
to induce tho Chinese government to
take any stops to punish the officials,
whom tho facts clearly showed to be in
a largo measure responsible for the
Fire at the Atlanta Kxpositlon.
Atlanta, Qa., Oct. 15 ?Temporary
excitement was croated on the exposi?
tion grounds this afternoon by a Qre on
tho Midway. The explosion of a gaso?
line stove in the old plantation at the
eastern extremity of the Midway sot
the frame structure on fire and the
smoke and (lames shot up, drawing
everybody on tho grounds to the scene.
Tho fire department quickly responded.
Lines were laid and the chemical en?
gines quickly put to work. There was
great pinic among tho freaks on the
Midway. The lire was soon under con?
trol, but the old plantation exhibit was
destroyed; tho phantoscopo, next door,
suffered S50 damage and Hagenbich's
wild beast arena Buffered to tbo extent
of 8600. _
Soldier* Sympathize With Cubans.
Chicago, Oct. 15,?The sentiment for
Cuban independence has spread to tho
ranks of the United States army, and
two of tho regulars have written Mayor
Swift asking for aid in raising com
tanles to fight Spain. One is from 11.
W. Darke, a prlvato in Company D,
Sixth Infantry Regulars, stationed at
Fort Thomas, Kentucky, who desires
information concerning tho Cuban revo?
lution, and believes that he can raise a
company to help out the revolutionists.
Jerry Root, of Fori Ripley, Minn., also
asks for information, and informs Mayor
Swift that a company can be ready to
move next month.
A Lynching Almost Certain.
Memphis, Tenn., Oct. 15.?Jeff. Ellis,
the negro rapist captured yesterday near
Holly yprings, Miss , Is now on his way
back to Braden, Tenn, tho scene of bis
crime, in custody of three officers. lie
ha'! confessed as to the offense, and also
oaya he ravished and murdered Mrs.
Wilcox, of tho same locality, some time
ago. In this case, tbo woman's husband
wont cre/.y from the shock and died in
an asylum. Ullis adds that be tried to
rape a young girl while escaping into
Mississippi, but did not suoceed. lie
will almost certainly bo lynched on ar?
rival at Braden.
Had Railroad Wreck.
Bradford, Pa , Oos. 15.?A bad
wreck occurred on the Buffalo division
of the Westorn New York and Penn?
sylvania railroad at 1 o'clock this morn?
ing As a north-bound freight train
was passing Eldred station the locomo?
tive left tho rails and plunged down an
otnbankment, followed by eleven loaded
cars. Fireman Jesse Baxter, of Buf?
falo, was caught beneath theengine acd
crushed to death. Engineer Crock way
and Brakeman Hag mi re, both of Buf?
falo, were seriously injured.
Fort Wnyue Centennial Celebration.
Four wayne, Ind., Oct. 15.?The cel?
ebration of the one hundredth adver?
sary of Fort Wayne's existence as a
city, which is to continue four days, be?
gan this morning and large crowds aro
in attendance. This afternoon an im?
mense bicycle parade was given over
the paved streets, followed by bicycle
races and various other games. This
evening tho opening centennial meet?
ing was held._
Terrible Percentage of Death.
Washington, Oct. 15.?Reports to tbo
United StateB supervising surgeon gen?
eral indicate that during the present
epidemic of cholera in Japan there have
Leon42,706 oases and 28,514 deaths. Is
is believed that the epidemic has
reached its climax and Is now declin?
A Negro Called Out and Shot.
Nashville, Tenn., Oct. is.?Eugono
Vancy, a negro, who lived ono mile oast
of Manchester, was called outlast night
at 10 o'clook by a crowd of white men
and shot to death. Ho was charged
with keeping and abusing a half-witted
whlto girl at his homo.
To Visit Atlanta in November.
Cleveland, Ohio, Oot 14.?Tho
Cleveland chambor of commerce wi l
visit tho Atlanta Exposition In bod
on November 2n 23 The members of
the organization wUl go on a flyor,
doublo section vestibule train of sleep?
ing and dinning cars.
National Association of Builders.
Baltimore. Md., Oct. 1.1.?Tho Na
tional Association of Builders convened
in ninth session here this morning
About seventy five delegates are pres
ent. Mayor Latroba delivered an ad
dreas of welcome.
GOVERNOR CLARKE DETERMINED
Saysthe Pugilists Shall not Even
Shake Hands in Arkansas.
Urlgadler-Qeneral Taylor of the State
Guards Called Into Consultation With
the View of Using; the Military to Stop
the Mill?rian of the Athletic Club to
Outwit the Governor.
LixrLK Rock, Ark., Oct. 15.?Gov?
ernor Clarke's determination to stop the
Corbett-Fltzsimmons contest at any cost
was emphasized to-day by the presence
in this city of General Taylor, of
Forest City, brigadier-general of the
Arkansas State Guard, who was sum?
moned to the capital by telegraph to
confer with the govornor in regard to
the strength of tho State militia. Gen?
eral Taylor was in oonferenco with
Governor Clarke for aa hour and when
Been later by tho roportor he was pre?
paring to take the afternoon train for
Genorai Taylor said positively that
the fight would not occur. His purpose
in going to Hot Springs, he said, was to
warn the peoplo thoro against the dan?
ger to which they would subject them?
selves should any attempt bo made to
bring the contest off. The State Guard,
General Taylor said, was in good con
dltion and amply sufiiolont to copo with
tho case in hand. Ho could, he said,
with a few hours' notice, land 850 well
drilled and fully-equipped men In Hot
Governor Clarko, whoo asked if he
had confidence in tho ability of the State
Guard to carry out his plans, said that
the militia was a matter of secondary
consideration, that ho could got all tbe
force necessary outside the military
companies. He reiterated his former
declaration that the fight would not bo
permitted to take place, and in this con?
nection said he could make no distinc?
tion between a prlzo fight and a glovo
"Suppose, Govornor Clarke," sug?
gested tho reporter, "Corbett and Fitz
simmons should desire togivo an oxhi
bi lion of physical culture in Hot Springs,
on Ocobi-r 31, In which largo gloves
wore used, would that bo stopped by
"Corbett and Fitzjlmraons shall not
meet In Hot Springs in any kind of a
contest," said Governor Clarke emphat?
ically, "if thoy over meet they will
fight, and they shall not fight in Arkan?
sas. Thoy shall not moot in Hot
Spring, either in or out of a ring. They
shall not even shake hands."
When asked if Corbett would bo ar?
rested upon his arrival, Governor Clarke
said that a good general never disclosed
his plans to the enemy
Information came from a private
source to-day that the Florida Athlotlo
Club Is considering a plan by which thoy
hopo to overcome the obstacles placed
before them by Governor Clarke. The
scheme Is to turn the whole aiTair over
to the Hot SprlngB Athletic Association.
That association was Incorporated by
the State of Arkansas on September G,
i8'J5, by William L. Babcock, John C.
Lonsdale and Charles H. Weaver, all of
According to its charter the Hot
Springs Athlolic Association was organ
ganized for "tho purpiso of carrying on
the i business of and maintaining a
park* for amusement at or near tho city
of Hot Springs, where races, athletic*
and games may be practiced and ex?
hibited and other amusements and
meaoa of entertainment may be fur?
nished, either to tbe public or Buch
persons or associations as may from
time to time be admitted thereto."
Under this charter the people Inter
ested bolieve they can conduct a boxing
match limited to a specified number of
rounds with soft gloves, without violat?
ing any State law.
When informed of this scheme, Gov?
ornor Clarke stated that the State
chartered corporations and associations
for legal purposes only, and that no
violation of the law would bu tolerated
under tbo guise of amusement. Ho was
not prepared, however, to stato just
what legal effect tbo proposed chango
Oorbott at Spring; L.ake.
Hot Springs, Oct. 15.?Corbett ar?
rived this ovenlng at Spring Lake, and
will glvo a show in the Opera House in
tho ovenlng. He fully expects to bo
placed under arrest, as promisod by tho
governor, and have the courts .settle
what is really the law.
A Rum-seller For Referee.
Omaha, Neb., Oct. 15.?Steve Hrodlo,
who has been playing in this city, re
celved a dispatch to-night saying he had
been chosen referee in the Corbett"
Fitzsimmons fight. Brodle was one of
the six men who were under considera?
tion for referee by the Florida Athletic
Club. He is a warm friend of both of
tho pugilists and was chosen by both
No Prise Fight In Tenneinse.
Memphis, Tenn., Oot. 15.?There has
boon some telegraphic correspondence
botween the local sporting fraternity and
representatives of tbe Florida Athletic
Club which loads to the bollef that
there may be an attempt to bring tbe
Corbott Filzalmmons fighi off hero If
the Hot Springs plan is Interfered *ith !
A dispatch from Govornor Turnoy said
that no prize fight cauld take p'aoo In
Tonnossoe if he cou.d preventit by call?
ing out the militia.
! Presld nt Diaz Vetoes Prize Fighting.
LARRDoj Tex . Oct 15. ? Rumors are
bolng circulated to tho offect that
should the Corbett-Fli zslmmons fight
not occur at Hot Springs, it would take
placo somewhere in Mexico. A repre?
sentative cf the Associated Press Inter?
viewed the Mexican consul, Lameda
Diaz, In this city to-rl?y. He vory em?
phatically stated that President Diaz
would never consent to allow the fight
19 it a british. LIND GBaB?
British Troops Reported to be Moving on
New York, Oct. 15 ?A special to tho
Herald from Buenos Ayres says a tele?
gram from Para, Brazil, has been re?
ceived In Rio Janeiro, stating that an
armed Briiish force Is marching through
Brazilian territory. The objective point
of tho body Is that part of Venezuela
claimed by the British government.
The column has already crossed the
Keport Denied in London.
London, Oot. 15.?The foreign office
officials wero questioned to day by a
representative of the Asstolated Press
as to the truth of tho report published
in the Unitod States that an armed
British force Is marching through Bra?
zilian territory and that Its objectlvo
point is that part of Venezuela wuich Is
claimed by tbo British government
They said there was no truth In tbo
story,that there aro no British there and
that there would bo no object la march?
ing through that portion of Brazil evon
if a Brliish tore * had been available
for tho purpeso outlined.
Diplomats Don't Hotlovo It.
Washington, Oct. 15.?Tho report
that British soldiers had boon landed in
Brazil and wore proceeding to the dis?
puted Venezuelan territory, is dis?
credited by Sir Jullan Pauncefote, the
British ambassador, by Signor Mon
donca, the Brazilian minister, and by
Signor Andreoa, the Venezuelan min?
ister, the representatives of tho threo
countries. It Is agreed by theBe officials
that a move of such Bupreme import?
ance would be quickly communicated
here, and in tho absence of any such
reports no credit is attached to it.
a RAILROAD TRAGEDY
What a Freight Oar From Norfolk to
PsTBRSBORO, Va., Oot. 15.?The
freight train from Norfolk about 11
o'clock to-night brought tho battered
body of a well dressed white man, ap?
parently 25 years old, who was found
lying In an empty coal car.
He was 89 humbly battered about tho
head and face as to bo quite unrecog?
nizable. Near him was tne Instrument
which tbo murderer had used with such
telling elTeot. 11 consisted of a piece of
heavy oak rail, about two foet long, six
Inches thick, and having sovcral nails
imbedded in it.
Tho wounded man was dressed in a
bluo cont and vest, black pants and
patent leather shoos and white shirt.
On the coat and vest wero brass buttons.
Inside of his vest pocket was fuund a
card InBcrlbod "Albert E. Alexander,
Atlantic House." In his coat pocket
was a certillcato from the bureau of
navigation, Washington, D. C, with the
name of W. M. Wood wrltton on it.
Wood la presumed to be the propor
name of the Injured man. Every pocket
of hla clothes had been turned wrong
Bide out, showing that robbery had
At 2:10 this morning, the man died,never
having regained consciousness. His head
presented a sickening eight, being one
mass of cuts and bruises, covering
almost the entire head and face.
Died From Waut and Exposure.
Norfolk, Va., Oct. 15.?At s o'clock
Monday morning a well-dressed man
was found in a woodyard, near Ports
mouth, In an unconscious state. He
was taken to tho city jal), where ho re?
ceived medical attention. Tho physi?
cian pronounced his disease pneumonia.
Ho died about 12 o'clock. A letter
signed "Addle Fowler." showed hltu to
be from Putsboro, N. C. His valise
contained patent medicines and a liible.
Waut the ArniH Returned.
Washington, tics. 15.?The demand
of the attorneys for the discharged
Cuban filibusters at Wilmington, Del.,
for tho return of tho twenty seven
boxes of arms sol/.od at the time of the
arrests has teen rocoived at tho Treas?
ury Department and turned over to tho
Department of Justice. Attorney Gen?
eral Harmon has had the matter under
advisement, but has rot yet come
to a decision.
British Steamer Stranded.
CAPS Hknrv. Va , Oct. 15.?The
British steamer Cambay stnvudod three
miles off sboro abreact of Falao Cape,
Va , at '.1 o'clock this morning. Tho
vessel grounded at low water in light
northeast winds and a moderate sea.
Her cargo is iron ore for Baltimore.
Tho vessol is headed east by northeast
from tho beach and ihanoes are favor?
able for her to float at next high water.
Roumanian Cabinet KcHlgns.
BUCUARKST, Iloutnanla, Oct. 15 ?The
cabinet has resigned and King Charles
has summoned Demeter Scurdzi, the
liberal leader, to form anew ministry.
Later--bucharest, Houmanta, Oct.
15.?Later in tho day Demeter Sturd/.a
succeeded In forming a liberal cabinet,
in which bo himself is the premlor and
minister of foreign alfalrs.
A General Strike Feared.
Clearfikld. Pa., Oct. 15?Fifteen
thousand minors attended tbo conven?
tion here to-day to discuss the situation
and take steps towards securing an in?
creased wacre scale. Nothing definite
was decided upon, but it was said to?
night that tho prospects aro favorable
for a general strike throughout tbo en
tiro region, and that the minors at (Hen
Rlchey, near here, have already quit
work. Another meeting will be held
Will Fight the California!).
London, Oct. 15.?It is announced
that Dan Creedon, tho ex middleweight
champion of Australia, who last night
defeated Frank Craig, the "Harlem
Coffee Cooler," for a purse of 400
pounds, before the National Sporting
Club, winning in twenty round?, will
shortly moot Joo Cnoynski, of Cali?
Will Probab'.y lie Granted,
lawrence, Mass , Oot. 15 ?The ro
quest made a woek ago by the looul iron
and brass tiuldera that their omployers
establish tho rate of wages at 82.5n a
day has boon favorably considered and
j will be probably granted.
THE BANKERS CONVENTION
New Scheme for the Relief of
Fifty Per Cent, or the Bank's Capital to>
be Invested in Treasury Motes and I>?
poilted?Sixty Tor Cent., Minns a Fiyo
Per Cent. Safety Food, to be Delivered
to the Bank for Issuance.
Atlanta, Ga., Oct. 15.?The Ameri?
can Bankers' Association began its ses?
sion in tbo Grand Opera House th's
morning at 10 o'clock with an unusually
largo attondanoo of doiegates and a
liberal sprinkling of visitors and on?
lookers. The association was welcomed
to the city by Mayor Forter King, and
to tho Stato by Hon. G. Gunby Jordan,
president of tbo State Bankers' Asso?
ciation in brief addresses. To these
words of welcome President John J. P.
O'Dell responded in behalf of the visit?
ing bankers and delivered bis annual
address. Tbo report of tho executive
council was then read by B. EE. Pullen,
chairman, and tho treasurer's report
was read and accepted.
President J. J. P. O'Doll, in tho
courso of his annual address, said : "A
year ago at your convention in Balti?
more a plan for the reformation of our
national currency system was adopted,
and, while tho recommendations of the
association did not meet with universal
approval, the action gave rlBe to a most
extensive agitation of the currency
question, both in and out of Congresa
and a great deal of valuable discussion
"The effort of the association to deal
with this subject has not beon fruitless,
and It Is to be honed that tho agitation
thuB initiated will continue until the
Government shall abandon the issu?
ance of notes and a more perfect cur?
rency system shall bo adopted. The
! evils of our present system were never
j mqro opparont than to-day. During
the period since wo last mot together
our country has paseed through an ex ?
perience that will not sooi be forgotten.
Following a season of universal liquida?
tion and distress tho country was con?
fronted by a national treasury forced
almost to the verge of bankruptcy,and
by the salo of a largo amount of bonds
tho Government recovered lta gold re?
serve. That this expedient offered but
temporary relief wo have had ample
evidence, and tho signs aro not wanting
to indicate that wo havo yot more trou?
ble In storo unless wo shall depart
ontlrely from tho present makeshift
and pernicious system of governmental
Ex-Governor Morrlam, of Minnesota,
road a paper entitled "The Currenoy for
tho Twentieth Century," in which he
outlined a currency scheme. His sug?
gestion was that, say forty por cent, of
the capital of a national bank bo in?
vested in United States bonds, and cir?
culation be issued against tho same, the
bills remaining in the hands of the
Treasurer, and currency to an amount
equal to tbo remaining sixty per cent,
of the capital stock bo delivered to the
bank for lssuanco when desired.
Before the unsecured currency 1b for
wardod, howevor, each bank should pay
to tho treasurer a sum equal to live per
cent, of Its capital stock, as a "bank cir?
culation safety fund," upon which money
tho government shall allow Interest at
the rato of threo per cent, pur annum.
The govornmont, In case tbn assets of
insolvont banks bo Insufllalent to reim?
burse it for the circulating nute? of de?
faulting institutions, may assess each
bank in the system pro rata, to an
amount sufficient to fully indemnify it
for any losses Incurred, but In any one
year no institution shall be assessed
more than ono por cent, of tho average
circulation for the previous year.
Inasmuch as there aro likely to bo at
least four thousand bai\ks organized
undor any national law, the treasurer
might act as redeeming agent for all tho
hunks, and each bank should, at all
times, keep with tho treasurer flvu por
osht cf its capital stock as a redemp?
tion fund, which fund should bo in gold
ooln, and held in trust for the specific
purpose intended As fast as notes are
redeemed tho bank should at once remit
a sum that would repair any deficiency
made by redemption and now notes bo
Tho government would receive sov
eral millions of dolla-b per annum into
its colfors to aid in paying ite bills as a
return for tho privilege granted tho
banks. In addition, tho Interest on one
hundred millions of gold now main?
tained in idleness would bo saved and
the gold put into active uso instead of
being out of tho channt Is of trade,there
being no further use for a "gold ro
servo " Tho bulk of the "'greenbacks"
and Sherman notes would bo absorbed
as a baslB for currency or as a reserve
again-1 deposits in banks. That all
the parts of the country might havo tho
advantano of national system, banks
should bo permitted to organize with a
capital of 835,000 or even less, thus en?
couraging Siate banks to abandon their
Thk United State? Government re?
ports show Royal Hiking Ponder su?
perior to all others.
Factory Pi ices and Easy Payments.
I SOU 0EAUER9V,