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The evening bulletin. [volume] (Maysville, Ky.) 1887-1905, July 31, 1893, Image 1

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Attorney General Engley's
Opinion on the Subject
Ho Thinks That There Should D Estah
Ulhed a Statutory Depository ot BIKex
Balllon and the Issuance of Certlfloatei
Tbfereon lis Ueasons For o Thinking
Given Id Detail.
Denveu, July 81. Attorney General
Engley bos, rendered aq opinion to the
effect that it is within the pow,or of Ihe
legislature to enact appropriate legisla
tion for the establishment of a statute
ory depository of silver bullion and the
issuance of certificates thejreon, assign
able by delivery and receivable by de
livery, and receivable by the state in
the payment of state taxes.
In his opinion Mr. Engley says: "Th
purpose of the inquiry is. as I under
stand it, to furnish if possible a me
dium, in part, owinjj to the contraction
of the volume of money, to better
transact business and relieve the finan
cial, depression now existing in the
state. The advisability ot practicabil
ity of remedial legislation by the state
along the line proposed'is a matter I
shallnot discuss hereinTbut I shall con
fine the inquiry to the iegal aspects ol
the question. Legislation of tho kind
proposed to bo effective must stand the
tost of a judicial interpretation of the
federal constitution.
The attorney general then pioceeds
to quote the United States constitution
Article 10, Section 1, to tho effect that
"no Btato shall coin money emit bills of
credit make anything but gold and sil
ver coin atender in payment of debts."
"The whole question," he proceeds to
say, ''as here printed, turns upon the
precise meaning of the words 'emit bills
of credit.'" f
The opinion of Chief Justice Marshall
in the case of Craig vs. Missouri on the
right of state to issue certificates of in
debtedness, receivable for taxes and
other state dues, and other opinions of
the United States supreme court, cited
on the subject aie quoted at length.
In concluding his opiuibu, the at
torney general says:
"From a review of these decisions, it
is evident that there is practically no
limitation on the powpr of the states in
the chartering of banks. The greatest
embarrassment in tlio way of state
banks is the 10 per cent tax on their
issue. The state may own the banks
and direct that its paper be received
for dues to the state, and may give to
the bank all franchises it may see fit,
as long as tho federal constitution is
not infringed. The state may organize
a state bank and authorize the issue of
money based on bullion deposited in
the vaults of the bank on mortgages
and good personal security. A consti
tutional objection might be raised I
do not say successfully raised to the
issue of money based on deposits of
bullion alone, upon the ground that
such legislation would be class legis
tion. "There can be no constitutional ob
jection to the state establishing depos
itories for the storage of bullion and is
suing certificates representing bullion
stored therein. These certificates may
be made assignable by delivery. Rep
resenting, ao they will, if issued, a com
modity that fluctuates in value, the
certificates will fluctuate accordingly.
Hence they can in no sense bo called pa
per intended to circulate as money.
They will bo sold in the open market,
and these sales, when mode, will only
bo a token of the sale of bo many ounces
of bullion or bars of metal. Their
value will be controlled by the same
rules and causes that control the value
of any other personal property. They
aroin effect, nothing more than ware
house 'receipts, stating on their face
that the holder will be entitled to the
delivery to him of bo many ounces of
bullion of a certain fineness on pre
sentation of the certified to the
proper officer of the government.
The government should charge a
per cent of the value of the bullion,
when deposited, to coyer the yMc'hbuse
expenses, including tho salaries of tho
officers in charge of the business. This
per cent may be payable in currerit
funds. The certificates may bo issued
upon. aliquot parts of the specific
antyutytB or bullion deposited and made
receivable for dues to the state.
"If the national government does not
restore silver to the status of 20 years
ago or does not remove tho tax on state
banks I can see no way qut of our diffi
culties except at great and unequal loss
to the people of the state. Encumbered
as certificate of deposit would neces
sarily be, by the fluctuations in the
market valuo of the bullion iteelf and
the constant expense, however small,
of keeping it stored, they .might find
but a feeble and uncertain circulation.
If we establish a state bank we must
pay 10 per cent upon its entire issue of
bills for the .privilege. As between the
two the issue of certificates by tho
state and making them receiyable by
tho state for all dues to $ho state and
tho establishment of a bank, the latter
may be the most feasible.
"Neither the certificates nor the
notea of the bank can be mode a tender
for private debta. The state may
pledge ite entire revenue to protect the
issue of the bank, and I see no reason
why tho collaterals held by the bank
ehould not be as eafe aa tho government
bondB deposited by the national, are
worth jiotbing if -the property within
bur banks is worth nothing. Our de
veloped and taxable property sum up
to hundreds of tailliona. If is not
within the scope of human intelligence
toreckon the value of our undevelqped
WcVfltt Witrifc vpKfitb- it
ilojfciwmcaflaae tmaeiveB vatma
' - , " 'J
the limitBtpreecribed by the federal con
stitution. It'can all bo made a pledge,
a visible, tangible guarantee, to protect
our homes and our credit and backed
by the energy of the people who dwell
upon our mountains and plains, it can
be mado a rampart behind which we
may bo safe from the money chargers
of Europe. Unices our property is pre
served by the government which our
forefathers established and which we
have acquired by the labor and priya
tfonfr Incident to a bioneer life, wo must
in obedienco to the paramount law of
f elf-preservation, proceed to torn aside
the flood of ruin that is now upon us."
Seventy-Three New England Banks Vic
New York, July Si. The "World's
special says that a huge conspiracy has
been unearthed whereby 78 banks and
banking institutions in New England
were victimized.
The story is to the effect that certain
employes of tho Northern Pacific Ele
vator company of Minnesota issued $1,
500,000 worth of forged duplicate cer
tificates for grain in storage in the
country elevators owned by the con
cern, where the inspection is not so
strict as at the terminal elevators.
These forged certificates were deposited
with eastern banks as collateral.' About
$300,000 was secured in New England
and the balance in New York. Some of
the eastern holders of the paper be
came suspicious, and on an investiga
tion being made the true statement of
affairs came to light. The stockholders
of the elevator were dumbfounded when
the facts came to their notice, and of
fers of settlement with the banks were
at once made and terms of a compro
mise offered. Tho company waa tnen
reorganized as the Lake Superior Ele
vator company, with George Cook, sec
retary of David Dowa company, New
York, as president.
The terms offered to the banks were
60 per cent cash, the remainder to be
paid in five annual payments. A com
mittee of bankers, whose institutions
hold large books of the elevator certifi
cates, wa3 appointed to consider this
proposition. It is impossible to say ex
actly what course the bankers will pur
sue, as they are very loth to talk, and.
in fact, they have done all in their
power to keep tlie whole affair from
tho public. The few who do say any
thingand they are very few admit
that they have been swindled, and de
clare that the swindlers ought to be
sent to prison. At the same time, thoy
say that good business policy, under
present conditions, forbids such severe
action, and especially as the stockhold
ers of the elevator company are ready
to maue a compromise settlement.
The Northern Pacific Elevator com
pany is now in the hands of a receiver,
and the frauds of its employes has
wiped "out its existence.
Among the New England bank
swindled are nearly all the State street
institutions here, which were hit heav
ily by banks at Portland, Me., and
various bank's in the towns nbout Bos
ton. Preparing For the Kaoo.
London, July 31. The measurements
of Royal Phelps Carroll's Navahoe
have not yet been received at Cowes
from the yacht racing association.
Therefore she may race unmeasured.
Many yachtsmen at Cowes find the
Navahoe quite similar to the Satanita.
Of all the large tonners she has the
heaviest rating. Emperor "William has
some hopes of winning the queen's cup
in Tuesday's race, ancl many Germans
have gone down to Cowes to see what
hiB yacht can do. The Valkyrie, with
Lord Dunraven aboard, is already
there. By tomorrow morning the usual
crowd of titled yachtsmen will be at
hand to boo the beginning of the meet
ing. Child lJuroed to Deutlu
Wheeling, July 81. Lizzie Van
kenren,' the 10-year-old daughter of
Charles E. Vankeuren, proprietor of
the Hotel Vankeuren, was burned tc
death. She and her little brother were
visiting near Bridgeport and with two
other children started a fire among
some day grass and leaves. The fire
begun to spread, and in an effort to put
it out the child's clothing took fire and
she burned to death before anyone
heard her cries for help. One or her
little playmates was badly, though not
fatally, burned in trying to extinguish
the flames.
The President' Sunday.
Buzzard's Bay, Mass., July 81.
President Cleveland spent Sunday
quietly at Gray Gables. The greatei
part of the day was passed on the ve
randa with Mrs. Cleveland and Dr.
Bryant. At 8 o'clock President Clove
land and Dr. Bryant drove to the sta
tion, and Dr. Bryant boarded a train.
President Cleveland returned to Gray
Gable's. Before going Dr. Bryant said
that his visit at Gray Gables ,was end
ed. He should go to Sorrento, Me., tc
pass a week with his family, and then
no should return to New York.
Will Have to Pay tho Ta.
Washington, July 81. Secretary
Carlisle has replied to the request oi
the Kentucky distillers for an exten
sion of 00 days in which to pay their in
ternal revenue taxes upon their whisky
which has been held three years in
bond, that the law 1b imperative and
leaves him no discretion in the prem
ises. Bo these distillers, when tho three
years are up, which will be this' month,
will have to pay the tax of 00 cents o
gallon, or subject themselves and
their stock of whisky to the penalties
prescribed by law. " '
Death of a Landlord.
Long Branch, July 81. William C.
Barrett, aged 48, proprietor of the Bar-:
rett House of New York, died Sunday
jit hineotUgenwu-here of heart fail
ure.' He waa the 'eldest son of tholate
William, O, jparretjt. Sr.r
The World's Fair .Again Open
on Sunday.
The Grounds Almost Deserted and Visitors
Blight Kaslly Have Been Counted lie
duclng the Free Admissions A Lack ol
Elevators and Guides tho Latest Com
Complaint. Chicago, July 81. The exposition
waa open yesterday under the order of
the court, but the attendance was ex
tremely light The grounds were al
most deserted and the visitors in the
buildings might easily have been count
ed. During the morning hours about
the only persons entering the gates
were exhibitors, their helpers and oth
ers employed in the grounds, but be
tween noon and 8 o'clock the cars
landed a few visitors at the gates.
There was no attraction in the even
ing to draw a crowd. There waa no
music nor entertainment of any char
acter in the main grounds and the peo
ple betook themselves to the plaisance
where thej attractions with two ex
ceptions wore running ae usual. The
weather was delightful.
The Latest Complaint.
Tho national commission suspended
the regular proceedings to hear a num
ber ot gentlemen representing the
American Exhibitors association.
President Pangoorn of tho association
was the first to address the commission.
He explained that owing to a lack of
elevators for visitors to tho fair, few
went up in the galleries of the build
ings. There was a great lack of venti
lation, and in some of the buildings,
more especially in the galleries, the air
was almost stifling. He complained
that on this account the grounds were
frequently crowded with people when
the buildings were almost empty.
"The dancing girls on Midway Plai
sance," he said, "the scum of tho broth
els of the Orient, attracted more atten
tion than the great manufacturers and
liberal arts building. This should not
be bo. Something should be done to in
duce the visitors to visit tho exhibits. "
He thought if there were plenty of
guides to show visitors through the
buildings more interest would be taken
in the exhibits. Director General
Davis promised to do what ho could.
Itoduclnir the Pre List.
The efforts to reduce tho free list are
proving so succefasful that Superintend
ent Tucker of the department of admis
sions predicts that nudcr the revision
now taking place at least 10,000 Beason
passes will be cut off.
Cultiuan Succeeds Schrrlll.
At the meeting of the auditing com
mittee of tho Ohio board of managers
P. H. Cultman, of New Lexington, waa
elected chairman of the auditing com
mittee in place of Albert Schwill, of
Cincinnati, who resigned last month.
Narrow Usc.ipe of Torty Worfcmen Two
Hurled In the Dobris.
Pittsbuiig, July 81. At 12:10 o'clock
Saturday afternoon, a 7-story brick and
iron building at the corner of Spring
alley and Ninth street, owned by the
Second National bank, collapsed and
crumbled to the ground. About 40
workmen were Beated inside of the
building eating their dinner. Some of
the number detected a trembling of the
structure and gave a shout of warning.
The men all rushed for tho street and
escaped save two of their number who
are yet missing and are supposed to be
covered under the many tons of debris.
The building was being arranged for
office purposes and a new three story
addition was in process of erection upon
the old and evidently weak walls.
A Gloomy View.
Indianapolis, July 31.' Congressman
W. D. Bynum, who has just returned
home from Washington, takes a rathor
gloomy view of the financial situation.
He says: "I have not talked with mem
bers of congress sufficiently to form an
idea as to any action that maybe taken.
I am not a believer in free silver or
gold, but am an out-and-out bimetallism
It is clearly apparent to me thafc tho
financial stringency does not depend on
the amount of money in circulation,
but rather on tho influences that con
trol circulation. I anticipate very live
ly times when congress convenes, as
:io session will be one in wmcl every
member will Bay something as well as
Startling Stories at nomestead.
Pittsburg, July 31. The trouble
among the iron mills resulting from the
unsettled trade conditions haa at last
come to affect the steel works of the
Carnegie company at Homestead. Com
mencing tonight, tho night turns will
not run in tho plate mill. This is rated
as especially significant because this
particuldr department haa never been
slock of orders before. It has been run
ring three turns, and under the new ar
rangement the men in each turn will
work every third week. The announce
ment of ihe charge caused general com
ment and speculation and some start
ling stories are afloat at Homestead.
Sllstilon Destroyed by Itlotars.
London, July 81. A dispatch to The
Times from Shanghai says that the
Italian Catholic mission at Mien Yang,
00 miles from Hankow, has been do
etroyed by flatlvo rioterp.
NVHl Jtesome Soon.
HARH18BOBG, July 81. It is learned
from a semi-offtaial source that tho
American Tube' and Iraq works, at
TSdMpwa ,vftl! " 'faftukoe "operations
wwt-week. ' '
Doublo Tragedy on tho Streets of a Ken
tucky Village.
Louisville, July 81. Death-dealing
bullets sjied from the pistols of three
men in the beautiful little suburb of
Parkland, and two of them rolled life
less into tho gutter. One of them was
Marshal A. J. Blunk of Parkland, and
the other waa Edmund Graham, whom
he was trying to arrest on a warrant.
Tho marshal murderer would probably
have escaped with his life had not tho
lB-yeor-old eon of the officer avenged
his father's death by sending and addi
tional bullet through -Graham's body.
The double tragedy cauBed Intense ex
citement, particularly from the fact
that Marshal Blunk was an aged man,
his hair and long beard being as white
as the driven snow, while Graham was
almost a giant in strength, and died
three times a murderer. He waa nearly
0 feet tall, weighed 200 pounds, and
was in the prime of manhood.
Parkland is just west of Louisville,
and it was only a few hundred yards
from the city limits where the fatal af
fray occurred. Graham waa a carpen
ter and lived in what is known ab North
Parkland. There has been almost a
feud.Vtweon the people of Parkland
and those of North Parkland over the
question of jurisdiction. Parkland is
under an injunction on account of tho
war over the base ball park, and a num
ber of people are taking advantage of
this to avoid the ordinances. Graliam
was the leader of them. Thursday
night Marshal Blunk found two of Gra
ham's cows on tho streets and placed
them in the pound. Graham, it was
charged in the warrant broke into the
pound and took hi cows. The marshal
saw Graham and drew out the warrant,
when Graham placed his hand on his
pistol and said if he attempted to serve
it he would shoot. The aged marshal
went across the street and deputized u
domi young men to help him. They
followed Graham one square, and then
made a rush for him. Graham slashed
at the boys with a knife, then leveled a
pistol at them, firing once.
The whitehaired marshal had stood
in the middle of the street, but seeinjj
the danger of the boys he rushed upon
the giant Graham, and they began a
duel at arms' length. Six Bhots were
fired, when Graham fell. Then he
raised up, leveled the pistol on his knej
and fired again at the marshal, who
fell, then raised on Mb elbow and fired
again. The marshal's young son was
in the crowd of boys. He drew a pis
tol on seeing his father fall and sent a
bullet through Graham's heart. Gra
ham fell face downward in tho mud
and died. Tho aged marshal also ex
pired in a few minutes, while his son
and avenger knelt weeping over his
Marsnal Blunk was a splendid officer,
and had served two terms.
Graham murdered his wife several
years ago, and also killed a man in In
diana. Mr. Blunk was a member of tho G.
A. R., having served through the entire
war in a Michigan regiment. His death
was bravely mot, and no more affecting
sight has been witnessed herp for many
a day.
Graham also killed Marshal T. B.
Hudson of Oakland City, Ind., five
years ago. and was still under bond for
the murder. This made the second
marshal ho has killed.
DcBperato righting in the Lust Two But
tles in Nicaragua.
San Juan Del Suk, Nicaragua, July
81. Details of the battle fought at
Mateares, where the government forces
mado their first defense of Managua,
and the one at Managua, when the
government troops were forced to
evacuate the capital, are gradually
coming in. General Zelaya, who aided
in the overthrow of Sacza, and after
wards joined tho revolutionary party
of Leon, led the attacking troops on
each occasion.
A determined resistant was made by
tho government forces, commanded by
General Avilez, the communder-in-chief.
There was desperate fighting at
each place. The loss of life waa enor
mous. General Zavola. president of the
Granada government, admits that 600
men lost their lives in the two en
gagements, but tho lowest estimate
placed by impartial observers upon the
combined loss of the armies in the bat
tles of Matenrts and Managua is from
1,000 to 1,400 lives. The fighting
was at clobe range, and the most des
perate ever witnessed in Nicaragua.
After a Long Session tho Slumcao Cabinet
Wecidcd to Surrender.
Bangkok, July 81. The Siamese
government has accepted the full terms
of tho French ultimatum. Tho cabinet
council at which the decision to grant
all demands at Franco's ultimatum was
made wob called at the royal palace.
The king presided. His two brothers
and all the ministers were present
After Bitting several hours the council
approved the views of the peace party.
It is stated here that England pro
tested to France that her threatened
blockade of the Siamese coast would
not bo a legal act; and that France con
ceded the point made by Great Britain.
Franco, it is said, has undertaken that
British commerce will in no wise be in
terfered with by the French warships.
English vessels will be allowed to cross
the Menam bar inward for Bangkok
after Sunday.
Dig Land Suit.
Asheville, N. C., July 8L Colonel
A. E. Cochran, a prominent lawyer of
San Diego! is hero for Ihe purpose of in
stituting in tho United States circuit
cottri'B, buUIot the possession of a large,
Grandfather & -1708.
A National One Will Be Held In
What is Expected of tho Great Gathering.
Interviews With P omluent Men on the
Subject of the Present Financial Situa
tion and the Strlngoncy in the Money
Chicago, July 81. About 100 dele
gates to the national silver convention
have registered at the headquarters in
the Montauk block up this time, accord
ing to tho advices received by the com
mittee on arrangements, fully ten times
this number will be on hand within the
next 24 hours. Headquarters will be
opened at the Palmer house for the
delegates from New York and Color
ado; at the Great Western hotel for
those from-Montana, Idaho and Illinois,
and at the Antique hotel for the dele
gates from Ohio, Texas, Indiana, Ne
braska, Michigan and California. This
applies to delegates that come alone.
For those with families provision has
been made at the Hotel Mecca.
Senator Wolcott of Colorado and
Congressman Eoen of Minnesota were
aiuonK the morning arrivals at the
Urand Pacific. They tarried long
enoughhowover, only to remove the
dus,t of travel and take dinner and then
continued their journey to Washington.
In conversation with some of tho local
silver men who were anxious that he
6hould remain for the convention. Sen
ator Wolcott said that he felt that he
could be of more service to the party at
the national capital in view of the fact
the makeup of the committee and other
important matters would command
consideration during tho coming week.
Congressman Jolin H. Reagan of
Texas also arrived at thn Grand Pacific
yesterday afternoon. The national ex
ecutive committee of the Peoples' party
has established itself in tho same hotel.
Onlv Chairman H. T. Taubeneck,
Treasurer Rankin of Terre Haute, and
George J. Washburne of Massachu
setts, chairman ot tho eastern division
of the Peoples' party, have 30 far put
in an appearance, and although these
were in consultation for several hours,
no formal caucus will be held until the
bulk of the committee arrive.
It is understood, however, that the
Populists in the convention will vigor
ously resist any attempt to form a new
party on the ground that the Omaha
plattorm concedes everything that is
demanded by the silverites and that as
a consequence the latter could not do
better than to come into the Populist
fold in a body. The leading silverites
are ready on the ground moreover are
strongly opposed to any inflammatory
or demagoguery harangues under the
cover of the convention. They want it,
thev 6ay, to be a sober, calm and de
liberative body, and if Governor Waite
or any others should undertake to re
peat their recent wild utterances they
will be speedily called down and sent to
the rear.
About 200 laboring men gathered on
the Lake Front yesterday afternoon to
listen to a silver address by Carl
Brown, one of the delegates from Cali
fornia and who styled himself national
recruiting officer of the industrial
legion of tho United States. He declared
that the gold bugs got their shackles on
tho country during the war and that
thoy had kept them riveted over bince.
American white men today were in a
worse condition under king gold than
the slaves before the war under king
cotton, for the latter were assured of
plenty to eat and a days holiday now
and then. There were those that con
sidered Senator Sherman a statesmen
and a patriot, but if this were true,
then the Benedict Arnold must be a
eaint in heaven.
As for the old man down at Buzzard's
Bay he was trying to do just the oppo
site to what Jackson did in the finan
cial question, and yet the groat bulk of
his own party regarded him as a dyed-in-the-wool
Jackson Democrat. Con
gress, declared the speaker, who was
irequontly applauded, bad degenerated
into a great auction room, in which the
rights and privileges of tho people were
bartered and sold. Notwithstanding
this, however, the present silver
trouble must be settled peaceably.
There was no necessity to allow moutn
inge or talk of revolution. It was the
people's fight and tho people would
settle it in such a way as to demon
strate that tho republic was a bulwark
and a rock between themselves and
those that would deprive thorn of their
Among the arrivals Were ex-Congressman
H. F. Bartine and T. K. Wren, of
Novada. "Our delegation will not be
a vory large one," said Mr. Bartine.
"We shall demand free coinage on p.
ratio of 1 to 10. It is absurd to say that
eilver can be produced at GO cents an
ounco. There are occasions when a
rich find may put tho cost of mining
down to that figure, but tho average
cost of mining silvor is about a SI an
ounco. Everything has closed down in
Nevada, save a few mines where the
percentage of gold is extremely large.
Only ruin i3 in store for the west and
eventually tho eaet in the demonitizing
of silver
Senator Stewart of Nevada is tho
most mentioned for permanent chair
man oy the western people but a grow
ing Eentiment haa developed in favor of
General Warner as permanent chair
man. Fear is entertained 'that if a
western man is made permanent chalr
tman an impression will go abroad ,that
the convention te being managed whol
ly in the interest of western xnixlo own
ers and for this ' reason m'any of the
delegates lavor Ganeral 'WanMr or
flome otfcer at)tojrn .man.

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