The Anaconda standard. [volume], January 13, 1893, Image 1

About The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970

Image provided by: Montana Historical Society; Helena, MT

                
VOL.IV.^NO 128.
ANACONDA,MONTANA. FRIDAY MORNING, JANUARY ij 1893.
PRICE,FIVE CENTS.
pTo-Dav the first octuple^hanging in America, occurs at^Chestertowa, Md.
Fivemen and three boys, all^colored, lolled Dr. Hill on^April 23d, 1892, because he^testified in a trial that the death^of a colored man who died on^being thrown out of a saloon by^whites, was not due to violence.^Desire for revenge was the mo^^tive of the crime.
Gansf Klein,
X
CLOTHIERS
/
(and)
Haberdashers^
\_r\
Boys'and Children's
Overcoatsa Specialty,
Gans^ Klein
MAINSTREET, BUTTE.
1 ^ ^ ^^^^^^^^
WANTMORE MONEY
TheWorld's Fair Commissioners 101^Ask For $50,000.
NEWSOF THE LEGISLATURE
AnotherBallot For 8enator-A Busy^Day In the House The Sen^^ate's Short Sssslon-Ap-^pointments.
IEYS,
^ the Jeweler
Doesthe finest Watch^and Jewelry RePatring^and manufacturing in the^city. Also makes a spec^^ialty of
ine
ngraving
andRaised Monogram^work at exceptionally tow^Prices.
T TT VG THE JEWELER.
J_i.I^a I O,OWSLEY (LOCK
SpecialIMspsteh to the standard.
Helena.Jan. 12.^The bouee, la ita^morning Maalon, transacted considerable^business. The following bills were intro^^duced: By A. F. Bray, notice of a bill to^provide for tbe location and purchase of^Warm Springs as an insane asylum, and^a bill providing for tbe relief of Emily^Swan, et al.; by Scharnikow, an act regu^^lating licenses, another providing that the^per diem of members be limited to 18 per^day and mileage fixed at 20 cents per^mile, and a bill to repeal the estray law;^by Mon tea ill, a bill regulating primary^elections; by Burne, an act creating^Bear Paw county from a part of^Choteau county; by Mattel, a bill 1 ocatiug^the normal school at Dillon; by Rabcock,^an act amending section 593 of tbe fifth^division of the compiled statutes; a bill^locating the state prison at Billings, and^an act to amcml tho revenue law; by^Tierney, an act legalising tbe funding^bonds issued by counties k by Lewis, an act^creating the county of Valley from a part^of Dawson county; by Lockey, an act^amending statutes 583, 634 and 538, con^^cerning articles of incorporation, concern^^ing tbe UHe of water in ditches, and mak^^ing females eligible for notaries public re^^spectively.
Thereport of the code commission was^referred to the judiciary committee. Bray,^Bach and Lockey were appointed commit^^tee on the governor's message. It was de^^cided that committees needing clerks^shall report to the house the number^needed. All clerks shall act under the au^^thority of the chief clerk. Alice Mc An^^drew k of Deer Lodge county was ap^^pointed clerk of tho committee on print^^ing.
Followingare tbe standing committees^sppointed:
Onways and means: Lockey, Monteath,^McKay, Murphy, Sappington, Loguo and^A. F. Bray.
Judiciarycommittee: Bach, Scharni^^kow, Butler, Fitsgerald, Tallant, Lewis^and Carpenter.
Onappropriations and claims: Bab-^cock, Huffman. Loaec, Lawrence, Loguo,^Davidson and Smalley.
Onprivileges and elections: Beecher^Bach, Burke, Tallant and Lockey.
Onagriculture and stock growing: Sap^^pington, Ward, Lock hart, Metlsf, Coder^McKay and Truman.
Oneducation: Monteath, Lockey,^Fleming, Tallant, Wahle, Dudley and^Wilson.
Onmines and minerals: Kilgallon,^Fitschen, Bonner, Burrell and Winter.
Ontowns, counties and highways: Smal-^ley, Bonner, Wahle, Tierney, Loring, Van^Cleve, Lewis, Burns and Babcock.
Onincorporations and manufactures:^Tierney, Ixtckhart, Burke, Loses and^Annear.
Onmilitary affairs: Graves, Rose, Flem^^ing, Fitsgerald and Dudley.
Onfederal relations: Fitsgerald, Mo-^Donel, Gorman, Leech aud C. II. Bray.
Oninternal improvements: Roso, Jef-^fere. Coder, Fitschen and Davidsou.
Onpublic lands: Logue, Ash, Butler,^Kilgallon. Goodell, Swett and Lewis.
Onwater rights and irrigation: Huff^^man, Van Cleve, Goodell, Truman and^Ward.
Onstate boards and officers: Lewis,^Graves, Lawrence, Benson, Wahle, Burke^and Scharnikow.
Onlabor: Bonner, Kilgallon, Gorman,^Winters, Swett, A. F. Bray and Beecher.^tf On apportionment and representation:^Fleming, Carpenter, Huffman, Martin^and McDonct.
Onrailroads and transportation : Tal^^lant, C. H. Bray, Swett, Scharnikow and^Martin.
Onstate institutions: A. F. Bray. Halt-^cock, Rose, Annear, Coder, Ash, Gorman,^Beecher aud Martin.
Ongame and fish : Dudley, Fitschen,^Logue, Jeffcrs and McKay.
Onaffairs of cities: Annear. Carpenter.^Metzel, Heuson, Truman, Walkup and^Sappington.
OnMM and Joint rules: Loring, Bach.^McDonrl, Murphy, Burrell, Burns and^Leech.
Onimmigration: C. H. Bray, Graves,^Goodell. Tierney ami Ward.
l)nminting: Walkup, taring, Wilson,^Montcuili and Ucnson.
(Inengrossment: Wilson. Sinalley, But^^ler, Van Cleve and Lawrence.
Onenrollment: Scharnikow, Martin,^Lorkhart, Winters and Losee.
Allbills wore referred to the committee^on printing. Aftor the joint ballot was^taken for senator, the house adjourned to^10 a. Hi. Friday.
iations,represented by delegates^from Helena, Butte, Billings, Boeernan,^Great Falls end Missoula, la in session^hers. They selected tbe following execu^^tive committee: W. L. Lltel, J. H. Mon^^teath, Will Kennedy and George M. Hays.^They will endeavor to secure favorable^legislation looking to the proper protec^^tion of tbe state association end to neve^their state bank examined end authorised^to audit and examine the books of ell as^^sociations.
Theworld's fair commissioners met here^to-day. Several reports made and re^^ferred to tbe committees. The board will^ask for an appropriation of $50,000 for the^state exhibit. Tbe money is greatly needed^Uncomplete the work already in hand end to^make tbe exhibit creditable.
THESENATE.
On*
OnlyReutlnt Buslssas Transsctsd
millatrodared.
SpecialDispatch to the Standard.
Helena,Jan. 12.^Tho senate met this^morning. Hoffman introduced a bill es^^tablishing and locating the state agricul^^tural college at Boseman. After the usual^routine business, the senate adjourned to^10 a. m. to-morrow.
LASTNIGHT'S CAUCUS.^The Haassr Men All Switch tm
W.A.
MenAll Switch
Clark.
SpecialDispatch to the standard.
Helena, Jan. 12.^Twenty-six votes^cast in tho democratic caucus to-night for^Clark. Tbe Hauser men all came In,^Davidson being represented by proxy.^Gibson was absent.
INJOINT SESSION.
DOINGSAT
Parties
TheBallot for keaator Shows bat 1.litis^Change.
SpecialDlipatch to tbe standard.
Helena.Jan. 12.-The ballot for United^Slates senator to-day resulted as follows:
Sanders,H2; Clark, 18; Hauser,ft; Dixon,^8: Mulville, 3.
Folsoinand Gibson w ere paired. Heeclier^changed hit vote frcm Hauser to Mulville.^Lockhart changed from Hauser to Clark.
WORLD'S FAIR COMMISSIONERS.
Th*yMeet at llrUna Other Meetings-^Land Comm.*^luuer.
SpecialBkSSSSs to the standard.
Heli.na.Jan. 12. Governor Riekards^appointed It. ^l. Hickman slate Isnd com^^missioner to-day. The appointment was^confirmed by tho state board of commis^^sioners m scssioii here.
Thestate league of building and loan
TOPEKA.
a
aleres-
StiltWrangling t*^session ef the House.
Topek\ . Kan., Jan. 12.^The conference^committee of the two houses were unable^to reach an agreement aa to settlement^last night. The populists wanted to throw^out three republican postmasters elected^to the legislature and substitute popu^^lists. This would give the populists a ma^^jority, and of course the republicans^would not give in, so the conference ad^^journed. Other conferences were held^this morning, but without result, and both^houses met at tho appointed time. Neither^attempted to do any business. Mrs.^Lease was present and encouraged the^populists to stand firm. Republicans^have about completed preparations for^bringing mandamus proceedings In tbe^supreme court to compel the secretary of^state to turn over the papers in the con^^tested cases.
SpeakerDunsmore of the populists'^house is authority for the statement that^tbe governor and senate will recognise tbe^populists' house this afternoon. Repub^^licans are looking for auch action, say^they will maintain organisation and leave^the hall peaceably should Ine governor^send the adjutant general to dispose of^them, and go to n hall down town and^continue their sessions.
Duringroll call by tbe republican house^this afternoon tbe democratic members^announced they held aloof as long as^proper for them to do so; but now, be^^lieving the republican house was the only^properly organized one, they would recog^^nize it as auch. Tho announcement was^received with wild demonstration by tbe^republicans. The populists are very much^depressed.
Tbeaddition of three democrats^republican membership gives t^licans 65 members, a majority of five,^posed of 61 republicans, one independent^^Wilson^and three democrats. Tbe ex^^citement caused by tbe action of tbe dem^^ocrats scon subsided and ths monotony of^waiting for further developments w as re^^sumed. The plan that tbe senate recog^^nize tbe populist house by resolution, and^the governor send in a message of recog^^nition, miscarried, the senate adjourning^without taking action. The governor did^not hear of this, however, until his mes^^sage started out. The populists in the^bouse cheered loudly when it was received,^while its reading was received with cat^^calls from the republican side. Some^minor resolutions were then offered on^the republican side and roll call ordered^on them showed H7 members answered^their names.1 ]
Mandamusproceedings against Secre^^tary of State Osliorne were begun this^evening in the supreme court to compel^him to hand ovor to Speaker Douglas, in^the republican house, a certified copy of^the roll of members elected to tbe house^on Ale in his office. The court will taks^up the matter In the morning.
HARDON JEFFERIS.
HONORTOTHE DEAD
IoprtsslnCeremonies Orer the Re^^mains of the Lite Senator Kenna.
FRIENDS' LONG FAREWELL
Companions of West Virginia's^Young Statssman Look Upon^His Pace for the Last
Time.
re,com*
Indictsd for Ihe Murder of Miss Ay re.
atBrighton.
Sacramento,Cel.. Jan. 12.- The grand^Jury to-day found indictments against^George B. Jeffcris, the locomotive engineer^now in jail on suspicion of having killed^Miss C. O. Ayres. the Brighton railroad^station agent. The grand jury finds two^counts against him. The first charges^him wit It tho murder of Miss Ayres. the^second indictment is for bigamy, for liav-^ing married Miss Ayres on the 8th day of^July last, when he bad a wife residing in^Oakland.
CottonSpinners' Troubles.
London,Jan. 12.- A conference between^master cotton spinners end operatives on^a strike against a reduction of 5 per cent,^in wages at Manchester today, resulted^in a disagreement and the strike con^^tinues. The masters claim the reduction^was absolutely necessary. It ia stated in^Oldham many millions are invested in^cotton mills that are not paying I percent,^and tbe owners would lie glad to dispose^of them at '-. per cent.
Slidby I'owderly.
Siranton. Pa.. Jan. 12.^Grand Master^Workman I'owderly. in an address to^union carpenters, said: ^I am a social^^ist, and I say it without blushing. If the^avow al brings condemnation. I am willing^it should. I am one of the 65.000,0111 soci-^alists in this country. I believe railroads^aud public highways should be national^^ized, and that the telegraph system should^he owned aud operated by the govern^^ment.^ _
AGrain Blockade.
St.Lm-tR. Jan. 12.^As a result of early^marketing of grain by the farmers and the^light export and shipping demand, tin^is a grain blockade in this cily, with little^prospect of relief. Elevators are full to^tho roofs and 1,-VlO loaded cars are on the^side tracks for which there is no storage^capacil). Some roads are refusing further^shipments of gram fortius city.
Washington,Jan. 12.^Both the senate^and house soon after meeting, ami with^^out transacting any business, took a re^^cess tu attend tbe funeral of tbe late Sen^^ator Kenna of West Virginia. Tbe body^of the late senator was conveyed to the^capitol building this morning in the midst^of a blinding anow storm. There it lay in^state in a marble room, tbe members of^the family having taken a farewell view^before tbe body left the residence. The^casket was not opened and was covered^with black cloth on which lay a bunch of^palms end roses, while at the foot was a^sheaf of wheat bound with palms and^violets.
Manyother floral tributes from mem^^bers of tbe senate aud house and friends^of tbe deceased. In spite of the storm out^^side, the galleries wcr^^ crowded before^the opening services. Tlie bier was placed^at the bead of the main aisle of tbe sen^^ate chamber and the member of tho lower^house entered, lead by Speaker Crisp, who^took his place beside the \ ice president.
Thepresident, cabinet, supreme court^and widow followed. Then followed a^procession of priests and acolytes, bear^^ing censer and candles, and Hishop Koaue^of the Roman Catholic church, who^preached the funeral sermon.
GeneralSrholleld. commanding general^of the army, arrived unannounced and^took his scat at the end of the row re^^served for the president and cabinet.^Then the diplomatic corps, headed by Sir^Julian rauncefote, arrived and was re^^ceived with the same ceremony as tho^house. Then followed tho chief justice^and associate justices of the supreme^court of the I'nited States, by^President Harrison and members of his^cabinet and the family of the dead sena^^tor in deep mumming.
At1:15 p. m. a procession of robed^priests, preceded by acolytes bearing a^censer and tall wax candles lighted,^marched down the aisle, followed by a^squad of capitol police in full uniform,^escorting and carrying tbe casket, which^was covered with palms and flow-^era. The priests, with Bishop Keane^of the Catholic university, in hia^purple robes, ranged themselves about the^coffin. Father Donoghue opened the re^^ligious services by walking around the^^ and sMperging it with holy water.^He was attended by an acolyte waving a^center, tbe fumes of which |iervaded the^chamber. He read the funeral services of^the Catholic church first in Latin and then^in English. Bishop Keane then took his^place at the head of the coffin anil^preached tbe funeral sermon. Behind^bim on the desk of tbe secretary stood a^gitt crucifix with gilt candelabra on either^aide in each of which burned five largo^wax candles, w hile opposite at the foot of^tbe coffin stood three altar boys, robed in^white and red, and one of them holding a^tall crucifix aud the others on each side^bearing lighted candles.
Intbe course of bis remarks Bishop^Keans said: ^At Ihe request of his emi^^nence. Cardinal Gibbons, and as his rep-^ntativo on this solemn occasion, it is^my privilege to offer Senator Kenna the^church's tribute of respect and affection.^His country has given, and will yet give,^fitting expression to the appreciation of^tbe tireless energy, distinguished ability^and blameless integrity with which he^filled for so many years the high office to^which his follow citizens had called him.^Let it be permitted to his mother church^to mingle her accents with those of his^country to tell of those qualities that made^bim dear to her -yea. the qualities in^which lay tho real secret of his public
Thegreat ConnelI clearance sale con^^tinue* to draw large rrosdt to their store.^They arc still giving great bargains and^making extraordinary reductions on all^goods. If you want something good und^want it cheap go to Council's.
Tbebishop then discoursed on the sub^^ject of faith and the good qualities of liv^^ing up to ideal faith would produce ill^At the close of his sermon, which^delivered w ith strong emphasis and^to with great interest by the large^blage in the chamber, the priests^formed in procession and retired by^of the side doors. I he family of the^seuator d.d the same. Tbe eon-^ional commilloe in w lute scarfs then^and left the chamber by the mam^i, followed by the squad of capitol |^o-^lloe bearing the casket. Then the guests^of tbe senate left the seiiato ill the order^of their arrival, and tho crowded galleries^gradually emptied. The senate then
adjournedtill to-morrow at noon.^Tbe body of the dead senator was taken^Cbese|^eakc A Okie railroad station,^it was placed in the baggage car of^a Special train.
TOTHE GRAVE.
Bodyef Ills late General Bailer leave*^Washington fur Lowell.
Washington.Jan. 1-'. After brief re^^ligious services at the house, the train^bearing the body of General Duller left^Washington at 3:15 o'clock this afternoon^for Lowell over the Pelilis^ hsn.a and^New York A New hnglaud road. Presi^^dent Harrison paid a visit to the Butler^bouse this afternoon and \ iewed the body^of tbe deed general.
ONTHE OHIO.
toeCovers ths Kt^^-r at Lselsvllls -^Gorges r'orinsd.^Lotnavii.le. Ky.. Jan. 12. The river is^frozen solid from Jeffersoiivillo bridge to^Twelve-Mile island and men aud boys^have been walking across all day . Hear)^gorges have formed at Alton. Wolf ( reek.^Leavenworth. Brandenburg and Salt^River. Smaller gorges have also formed^st intermediate points. The rapid falling^of the river in the harbor last night caused^boats to be left aground.
Customersw hen attending the clearance^^ale at ( onnell's should not forget that^there are some splendid bargains i^^testes' cloaks, suits and uudsrwear on ths^second floor.
BLAINE'SILLNESS.
Deetorsfay That the ktalesasaa's Coeei-^tlaa llsmala* t'achangsd.
Warhwoton.Jan. 12.^Early this even^^ing messengers were hastily dispatched^for both Ore. Johnston and Hyatt. Young^Mr. Blaina was slso quickly summoned.^Tbis, taken in connection with ths evi^^dences of unusual commotion about the^family residence, led newspaper men to^believe that Mr. Blaine had suffered a re^^lapse. After 20 minutes' consultation^Dr. Johnston left the house. He stated^nothing of a positively serious nature had^occurred, and Blame's condition was prac^^tically unchanged. He states whenever^any symptoms developed that might he^construed by the attendant as unfavora^^ble, physicians were immediately notified,^but this did not indicate a change for the^worse. Dr. Hyatt said the trouble was a^difficulty the invalid experienced in^breathing. The attendant supposed that^the labored respiration was caused by an^attack of heart failure, but the heart was^found not to lie affected. Medicine was^administered and the unfavorable symp-^toms passed aw ay.
Blaineis weaker to-night than since his^relapse two nights ago. His physicians,^Drs. Johnston and Hyatt, called at9::*^^o'clock and remained in the sick room I ^^minutes,during which lime they made a^thorough examination of their patient and^gave him some additional medicines. The^guarded utterances of the doctors are es^^pecially significant, more from what they^failed to say than from what they actually^said. Dr. Hyatt is still at the house, and^it looks as if one or both doctors will re^^main all night.
FOR A SHIP CANAL,^riaa to Conner! Hie Big Amsrtcaa Lakes
WilliIhe Ores 11.
Washington,Jan. 12. A convention of^representatives of commercial bislir* anil^lake interest of i lie country' called by the^Dtiluth chamber of commerce to organize^a movement in support of the scheme to^unite the great lakes and the ocean by a^ship canal through the territory, met here^to-day. Between 75 and Hi were present.^W. R. Hidwell, president of the Duliith^chamber of commorce. was made tempor^^ary chairman. After some speech-^making committees on credentials^und permanent organization were a|^-^pointcd and a recess taken till afternoon.
Atthe afternoon session a number nf^addresses were made, among them one^by George 11. I'.ly of f'lcvelund. who ad^^vised that for the present tbe convention^confine itself to a declaration ill favor of^au appropriation by congress to make a^survey of routes for the canal. Speaking^of the extent of interti ll improvement in^this country, he said tho impressiou pre^^vailed that the Cnlted States expended^more than any other nation. As a matter^of fact, he said, there has been expended,^all told, by national and stale govern^^ments from 1787 to 1*90, for improvement^of rivers, hurboi-M and building^canals, less than tZWlOUJtm. France^has expended more than tauTt.ooi),HtO,^with nothing like an expectation^of permanent benefit that promises to the^United States.
Thecommittee on permanent organisa^^tion reported, recommending the follow^^ing officers: President, ficorge II. My of^Ohio; vice presidents, C. W. Osgood of^Vermont and William A. Sweet of New^York, w ith honorary vice presidents from^each state: secretary, S. A. Thompson,^Minneapolis. Ely stated his platform to^bo in favor of a waterway from the lakes^to the sea ovor the territory of the I'nltod^States and independent of. and a cessa^^tion of legislation in favor of Canadian^lines of transportation. A committee on^resolutions was appointed and letters^read from President-elect Cleveland, Vice^President Morton and others regretting^their inability to be present.
ThoKaapp-M^( onnell Contest.
SpecialDispatch to the standard.
Missotla. Jan. 12. Argument in the^Knapp-McCounell election case was re^^sumed In-fore Judge Hraiitly this morning,^Messrs. Huddlrstoii and Campbell defend^^ing the modus operandi of the contestant^in tlie |ireiiiises, and Thomas Marshall^concluding for the contestee on the mo^^tion to quash tho proceedings. At the^conclusion of argument* the court stated^it would rentier a decision on Monday^afternoon, the 16th. In the event of the^defendant's motion being sustained, it is^expected the question w ill be carried to^tit* supreme court for final determination.^^ ^ . - - ^^Conrt at l.lvlassloa.^Special Dispatch to the standard.
Livings-ion.Jan. 12. The liloom mur^^der case came up in the court this morn^^ing on the defendant's motion for a con^^tinuance. The motion was overruled and^the case set for the 26th instant. Thu^case against Pierre, Hoo|^es and t heatou,^for embezzlement was nollied. The de-^fcndcnl* were immediately rearrested on^another charge of embezzlement preferred^by the Commercial 1'uioii Insurance com^^pany. Attorney l.ippiticott of Hutte is^representing the company in ths prosecu^^tion of the cases.
Illsl eg Crashed.
BjSnxnlDispatch to the Standsrd.
Mi-miii t. Jan. 12. R. Best, a logger^in the employ of the lllackfoot Milling^company, was seriously injured while at^work at one of the company's camps^about 40 miles from this city, and was^brought iu early this morning for treat^^ment. It appears that a log became^loose tied and fell on his left leg, crushing^it above ihe ankle. It 1* probable that^amputation sill be necessary.
\i Change Wanted.
Lincoln,Neb., Jan. 12. ^In ihe state^senate this morning, an effort by the in-^ilc|s!iideuis to change the rule w hich al^^ways prevailed in Nebraska that the presi^^dent of the seuate shall preside over all^joint sessions, so as to make the speaker^of the house the presiding officer, was de^^feated l'^ to '^, the republican* aud demo^^crat* voting against the change.
ToGuard Spats'* Interests.
Mvmitp, Jan. 12. The Spanish cabinet^decided to-day that if hnglaud should^send a squadron to Tangiers to compel^satisfaction for recent murder of Kugluti-^mSD by natives in Morocco, .-pain would^dispatch three sir shirt to reach Tangier^si tbs same time.
BANKINGAND CURRENCY
Meetingof Uoted American Flnuclers^in Philadelphia.
OURCIRCULATING MEDIUM
Methodsof Issuing Notes Secured^by the Government^The State^snd Natlonsl Banking^System.
Philadelphia,Pa., Jan. 12.^The^enteenth scientific session of tbe I^can Academy of Political snd Social^Science convened here this morning in tbe^Drexel institute. President Prof. Edmund^J. James of the Wharton school of finance^and economy in the chair. Representa^^tive bankers of Philadelphia, New York^and Ualtimore occupied seats on tbe^stage. The topic of the evening was^^National versus state banks of issue.^^Papers were submitted by Hon. Horace^White, editor of Ihe New York Sensing^/Visf, by Hon. W. L. Trenholm of Ohio,^and A. S. Hepburn, the present comptrol^^ler of currency. The discussion had slg-^ntflcance far beyond mere academic de^^bate, as tho first three gentlemen have^grown l^^ bo intimate advisers of Presi^^dent-elect '.Cleveland in financial matters,^while Hepburn represents Hamtsm's ad^^ministration. White, in the leading paper^of the evening, gave a sketch of tbe good^and bad systems of banking that ox toted^lie fore the war. In the former category^the governing principle wss that bank as^^sets should redeem tbe circulating i^This, in tho sneaker's opinion,^true theory of bauking. The bad i^were free banks, more especially of the^norths est cm states, which copied after^the New York system of issuing notes of^securities lodged with a public officer.^The free hank system waa a step back^^ward in the evolution of banking, because^it absorbed the bank's capital before its^doors sere opened for business.
Whitethought tbe system of banking^on liond security is destined to perish^soon, because all securities fit to be used^for the purpose are faat disappearing.^The national bank note system could be^preserved and improved, however, by a^very slight change in tbe present lew, vis:^Out of the present tax on bank notes con^^stitute s safety fund to be lodged in tbe^treasury, the amount of it to be computed^by tbe actuaries taking tbe national I^mortality of the past 25 years ss a^Let the government continue to bs re-^sponsible for the notes and bold tbe first^lien on Ihe assets and personal liability of^shareholders for its own protection, alt^other parts of the national^law to stand as now.^tbe safety fund has rssehsd an^ascertained amount, let participating^banks withdraw t hair bonds and sell them^if they choose. This plan would dispense^with the craving for silver currency be^^cause it would furnish all tbe circulating^notes needed, snd it would dispense with^the need of slate bank notes because every^facility for sound banking that a state^could possibly grant would bs granted by^the national government.
Hon.M. D. Harter of Ohio laid dewa^the conditions to bs adopted, which, in bis^opinion, were essential to the successful^financial future of tbe United Stales.^Gold must continus tbe sole standard of^value and bi metallism must snd eaa only^lie maintained by limiting tbs coinage of^silver as we do now. Tbe government^must stop the issue of legal tender paper,^retire in the best manner and at as early^a date as ran properly be done all pspsr^it has out and thereafter confine^itself to collecting taxes, disburs^^ing proceeds snd keep its^off the money market. With tbe^meni simply coining freely sll geld and^restricting the coinage of baser metals,^every other form of money would be^promptly redeemable or convertible into^gold and the volume under any good bank^^ing system would always bs what tbs busl*^uess of the nation needed.
Harterthen presented e bill introduced^in congress and pictured the business ef^the I'nited Stales free from congressional^control w hich would follow tbe adoption^of this plan, and said while it provided^for state banking, tbe banking of tbe^future, would, under the bill, bs vary^largely done by national banks and by^hanks and hankers not issuing notes.
ComptrollerHepburn's paper was on^state and national bank circulation. It^said ill part: ^The constitution provides^that congress must provide all money that^IHsisesaes full debt-paying power. By^every consideration of sound business^principles it should provide sll the I^the country required. As in tbs^in future, every period of financial^pression would result In more or I^ersl sus|iensioii of specie pay meets by^bank*. If state banks are allowed to air*^culstate their acce ptance becomessbusts^ness necessity. Slate bank circulation^loses it* money power in a crisis;^instcsd of psyiiig debts it comes forward^to be paid and so adda to the danger. If^the states are to snare with the United^Ststes in issuing paper money, we will^have a chain of sovereignties, eaeb with^varying laws aud systems. Tbe profit of^a bank's circulation depends upon tbe^length of time it is outstanding. In order^to get their notes into general use and^keep them outstanding, stele beaks would^seek to arrange with city eorrespondents^for their redemption. As s result ef the^intense competition far banks' accounts,^all of our cities would bs drawn late the^meshes, and the weak snd bad notes^would not be confined to tbe pises of^issue, t in itiation should be secured.
Whenthe I lined States bonds casta to^exist, other suitable securities will exist.^The injunction of tbe government Is not^merely to protect tbs note bolder, but as^far as pus*ible to protect all creditors, la^recent years banks have become large^owner* of securities: since this is ths ease^it would not be an onerous provision to^require them to two proper securities BS a^basis for circulating notes.
Atthe Montana.
Thoseregistered at the Montana j^day were: M. I'. LsveUs, P. J. Br is by.^J. S. Oppeulioinier, V. W. Blackford, J.C,^Twohy. Butts; J. A. Wataoa, St, lNtal| is
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