u
"if
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1
'News-and Observer
By 11IE NEW3 AND OBSERVER CO.
1. IHnREE,
-.' if, :
Dinljif on jer, mall postpaid,
" - Mx monUs, " "
-Uiree " " "
Ko iftne entered without payment, w4 M p
airse&t after th expiration ut time ia4 . . r
: s'iTCRDAY, OCT. 20, 1887.
flu.. - - - ' - -. - -.- --"
Te lObarlotte graded school teach-
era
see
iit lip shop and came down 10
Uj Raleigh schools. They art?
wlaa in their dav and generation. 'I hp
Raleigh schools are models.
' Attrriter in ,the Baltimore
Ma nit -
t'act&r'trs Record says 1'olK county;
:4
Nortru Carolina, is the future aaniU-
riurrlof the world,
crn "region of the
The whole wesl
State ib a grand
eanifarium. . .
Ti&:J combinations known astrusls
arc now themselves combining. Leasjt
wise appears that the cotton seejd
od acid the Standard oil trusts aie
arragiug to unite. The question ia
all swijh matters is as to where the
people stand. 1
outrowejd
kmer seema
to have
Gamsaur. ,lhe St Louis "man
easilv
vest&iday. Both men were in
nqe
condition' for the race. The boats of
the two were of the same leDgt.fi,
23 rejet, but Teomer's was one poud
the lighter, weighing but 12l ourids.-
i ; I
' Trftv are having ear thquajtes galore
m tLvS lR-ighbtirhood of Santiago 4?
Cubt-thirty-two in the course if
twenty-one days and thousands f
people are leaving their homes tosaye
tlieir lives. "We can sympathize wih
theniniore fully than wo could before
tnemitnc
AugftBt
31st, 188C I
nit
V
i . .
W record with pleasure- the luck
of ar6ther newspaper man-31r. Has
kell rtf the Boston Jlerald who ri
tires fit the aje of fifty ' and in full
vigofto live at ease on the fortui
he Wb made. He, will have time no
to lowk more closely after that boy Of
his oid the Minneapolis paper who
waa tiie author of theoutrageous a '
tide &n Mrs. Cleveland.
-i .m .
Goan news comes ' from Virginia;
The tffeports received by the demo
cratic state committee from the vft
riousdistricts in the State are veijy
satisfactory, indicating as they 4o
that fte majority in the next legisla
ture ja likely to be as large as it wu
in'ib last. Brady in ' his turn ia
knintg ifahone, and altogether the
prqaj-ect fiiBeras to be fair for the de
mocracy. .. . :
m i ; ;1
ThW Bouthern forestry congress re-J
solveL to endorse a bill to be intro-J
duced intq-the next Federal Congress
providing for the preservation of the
thsStr lands belonging to the go-vem-
ment-It also expressed itself strong!
on t general subject of '.preserviafj
the forests, a subject that isgrowin
rapidly in importance in this cduntrj'.
. Wfe;fear the reports that will foil
low tie long-continued Tains through
out tye State. Great damage must
have'Jbeen dolie by the rising of the
streawts and the overflow of kinds on
whic. crops are still standing; Such
a state of things in connection with
the-cessation of business occasioned
by tb? rain must result in losses that
will tie seriously felt
BeSt Bctleb has come out square!
IT
V
in Bifpport of Lovering, the demo-.
. . b , tic !
cratitf candidate for Goyernor of Masr
cratic: candidate for jroyernor oi flias-1
pachuetts. At first blush this seeiis
tobead'for Mr. LoveringJ but Ben,
ftB wkll know. Lhatever else he rnaV
as wa all know, whatever else he may
be, isfby no means fool, and hence his
acuon:may ue regarettju as an muicfi-
tion Miat the democratic candidate M
.;t,i k o.uta.i Tho Aamn,.raia
of Massachusetts, at any rate, sayl
r - .
that Sen's support means the certain?
clectlon of Lovering. ,
i . ;
Tb3 result of the bolters'
i
111UVC 4
mentiin Baltimore should be a lesson
to aitaemocrats who are disposed toj
kick out of party traces in their?
a-nxict'y to secure their own advanced
The Baltimore malcontents
styled
themselves, "reformers" aqid'
gave out to tne world wnat was?
pret$4iuch in effect that every Bal-
timofeariUvho called himself a demo-1
I -j . r
1 Ai.'i tl,;f TU.-i
join tliemselres to the republicah3 - . -
and fchVnatural result of such despeM
ate &Hics was that the democrats o;
, . .. . . , . r ?
tnetatygajnereu.in ineir migni an
Edit.
ISO
lut down the unholy alliance thafe ; and fee 4s of 11)07, by reason of which strongest terms the evils of a paper'
ilid Hqt scruple for selfish and parii! scarty a $1,000 4 per cent bond curreupy,. dependent for its volume
san f rls to vilify their city. As j; costsTnearly $1,300, the loss bow is only oh the will of the national legis
con4aence ' w have a taa$ ; mudj greater, amounting to nearly ; lature butl recommended an irre
joritys for ,the regular democratic ; $50,000 currency abstracted from the dcemable . issue of bonds bearing a.
candidate for mayor larger than th community in which a $100,000 bank. Jow rate" of interest, say two per cent,
one bUined at the last election,' an I ' is located. which thould serve as a basis of the.
the Alleged reform movement appear! is Inrthis manner the South and the- national banking system. Others de
inks true proportions of a lizzh j West hae, in the aggregate, been do- tuaudod the repeal of the ten per cent;
merely. Whenever an alleged demos I privejd of large amounts of money to , tax on imfues of State bonds, and a1
crat: is found who is altogether tot? be accumulated in New York, the return to the old State bank system
roogoou ior ms party, it may oe ses cmet? ieneuis tne oanK coniernng on
dowu'as a fact that the said alleged the community being collecting their
is to;far gone to be saved, that he ifif ; o n noney, partly capital, mainly de
prejlaj'ed to sacrifice any principle Y positp, and lending the same at rates
he iay Lave aa the result of the stucjy 1 of interest so high as to throttle
jitnliobscrvation of bin lifetime, andif business enteriirises. Tie South has
wai&nlg ut all to desert to the tuemyi sufl'eled the most because by tho re-
is wuitiug oniy ior a uju, so tpav
he fniiy make his treachery to ;hi
tsepfio of light Mch him the big;
ges price possible.. The way to j -lorisi
is to reform within the party
and' and honest de3ire for refornf wjlf
exje$s itself without going beyond
the jxrnuds of, party policy and party
discipline Let kickers everywhere
prtierit and prospective learn thu
lohibn contained in v, hat has come of
thai machinations of their kind fa
BaHiiiiore. It is supposed the repub
Lcaii canvass in the State will now t4
a baiidouod. The Waterloo, suffer. 4i
in the State metropolis is supposed
to te BufHcient amusement for ili
p;udy.! It ought to be, though the.;
republican party, "it must be admit;
te has recently
became very hogi
gisli of defeat-
W0Ofcr A.VD MHUVrACTVBKS OF WOOL
from the special report just made
by he chief of tiA bureau of statis
tic! of the treasury department at
IWwhBgton on wool and the manu
factures of wool, a report to which
wet have already referred in a general
WaV. it appears that in North Carolina 1
. toofv m ui:v- i -
UJBitt were 111 loou vwavusuuivuiB
fof the manufacture of woolen goods
with 1 57 cards,'' 30" looms, 2,374
Bplndfes and 185 employees $2p3,iOO
is jthffamount of capital investetj in
the business; $23,195 the amount
pid out as wages, $255,707 the total
vqlueiof all materials and $303, 1G0
thle value of the production at whole--
Be.
tThere has been a steady growth of
the business in the State, it appear?,
Biice3850. In that year the cost of
materials used was $13,950; in 1860
it was $151,005; in 1870, $1C6,497
and in 18H, $255,707t The ; value
of products in 1850 was $23,750; in
l!ft0,f$291,000; in 1870, $298,63; ii
1880.t$;J03,lG0. At the same lime
Fthfere -seems to have been a falling off
between 1870 and 1880 in the number
ol establishments, capital invested,
b4nda employed aud wages paid.. In
170 the number of establishments'
wk 52; in 1880 it was 49. In 1870
tbje capital invested was $237,800; in
1,S it was $203,100. In 1870 the
ntj-iber of bauds employed was 249;
ul30 it was 185. In 1370 the
amount of wages paid was $39,101;
inilHSO it was $23,195.. -'Still
the final results show steady
growth and are encouraging. It is
clar that in this line of n
disirjv. comparatively small among
tle State's great occupations, as,
irfall&therjlines. North Carolina isad
vaiheihg with steps which, if not as rap
idfas 4ome that her neighbors jre tafe
inj;, Are sure.
Sr"t;K(iEos, the famous preacher, has
wlthdiawn from the Baptist Union.
He says in explanation : "To pursue
uaioa at'the expense of the tru'h is
treason to Jesutf. To tamper with
His doctrine is to become a traitor to
Him.'; We have before us the wretch
ed spectacle of professedly orthodox
Christians pufelicly avowing , union
wth those who deny the faith, call
the fall of man a fable, and deny the
personality of the Holy Ghosts He
says, .however, that he does not pro
pose to start a new denomination,
jBob Lijjcoln's boom has been
llundhed in the West and in Vermont
tiere; seems to be a pretty strODg ex
pression in favor of Allison. Mean
time Blaine is getting in no little quiet
work! and in a collision of men of
ftis following with Lincoln men in a
hicftgo ward primary the other
$ight his henchmen put to flight the
Supporters of "the son of his father"'
(gnominiously. Ab for the democrats,
jihey will beat one of these men next
year about as easily as another,
f v'ir- : ' ' .1 ' -
"v Chables Dickens the younger is
how reading his father's writings in
New:York and is producing an effect,
it appears, almost as charming as
ithat)f the father's presence. Else
where We print an account of his first
'appearance written by Mr. Winter,
he famous critic of the Tribune.
4 -
SAPropMdBattkttmirsta.
p. Jvs and Obsemr.
,j, s Chapel Hill, Oct. V8, 1887.
t I am glad to find that you are fully
jliroufed to the dangers impending
; verur , country in consequence of
certain unwise laws, lou have most
JablyjBndeavored to arouse your read-:
ers $0 a Sense Of these perils. I
Ifwriti to make a few suggestions by'!
jway m seconuing your muituua.
j, Lighteon months ago I called the
1 . 7 V- ' 7 r , " .
ini-ivtiftl lior.binfy arafom T a a m 1 f t art
f !.u on eat merit nauelv t
p.r - , , , great merit, namely,
Uhe probable security of the cttculaH
the probable security of4 the ctrcalat -
ing ajotes, a merit so important and
afef to tur PfP8 ba3
l'L10 J6. bav?
ii - , j ,
joperaxea injuriously n tne pasvana
f unices corrected, will operate disas-
uuj m iud iuiuic.
, . - .
I. tie,f def?ct'
a8 1 pointed OUt,
i.w tuft pant notes are
only obtama-
f e -v. deposit of government
A. ' - -
"""''"""e."- 'J", J
ua'uuu uu to
currency to some moneyed centre,
say Hew Yrk city, buy the bonds at
.1 1 rr
a pruiiuui anu outain oniy ao per
cent of the par value thereof in notes.
Tho community, therefore, by the es
tablishment of the bank, loses of cur
rency the 10 peFcent margin and also
the premium on the bonds and the
am o lint of reserve necessary- to be
retailed by the bank under the law.
A lew years ago tne establishment of
Sl60,000 bank caused to be'sent to
Nn?rk $.U5fSrtiu "I' l
which it receiver! 00.0(l0 in retjirn "
r ---j ,
nart of which must be retained a re
serv leaving for lending piirposes
about $30,000 less than was sent sway,
lX 9PaS to the rapid extinction of
the government debt, there beine
. f , .r
lesuas oi , the war it started in
1805lmost denuded of all etirreucy,,
As tho tiino approaches whou the
government will exercise its right of
paying oil. the bonds at par, thero
will be. iutrinsically a constant yearly
loHi f premium,' so that many banks
havorbee-n paying off their note, iiu 1
issuing no nev notes.
Tbtia has led to a great decrease of
tne Currency of the country, of which
.' you, JMr. Editor, nave spoken repeat-
edly ;and wisely. The public is hardly
awaoe of the extent of thib decrease,
On January 14, 1875, the national
banknotes outstanding amounted to
-351)861,450. On July 1, 1887, of
those already cancelled or calhsd for
:in exchange for greenbacks deposited
with the treasurer of the U. S. by the
banks for the purpose, the amount is
only $17183,375, That is, the banks
have diminished the circulation of the
cjduntry ISO millions of dollars,
i This contraction has tended undoubtedly-to
the retardation of the
revival of business. Nothing - his
prevented more ; disastrous conse
quencas, but the issue of silver no tes
exchange for the 412$
gram dol
the silver
lars 'accumulated under
coinage act. '
i Theicircaloiliou of all the national
pants pi jew xorK city, witn a capi- i
fcal stoek of aver 45 millions, is only j
slightly in 'excess of 8 millions,
i The. banks pf , North Carolina with j
about $2,40000 of. capital have out
standing about $800,090 notes only.
When fwe jexataiiut) the reports of the
Several banks .we find that some have
a still jf-ss proportion The Commer
Qial Ndiiohal? Bank, Chatlofto,'. has a
capital," of $175,000, with only $15,000
notes. The Rational Bank of Raleigh,
has $190,00p capital with $10,000
note3. The First National Bnk,
Wilmington; wfth $250,000 capital,
has only $ti,99J notes. The First
National Batik. Salisbury, with $50,
000 capital, )as $12,340 notes. '
j. These Bttements show that the
banks do hot UQd it profitable to issue
notes btaind at sucu heavy expense
for premium?, together with the one
per cent per annum tax on circula
tion. :Sonie; editors complacently as
sert that th national bank ftysteiu is
the beEt ever devised. Yet it is fast
breaking doiyn, so far as its function
as banks of issu extends,
j The extraordinary rapidity of di
(uiuution Of the public debt, and cbn
sequfiit rise in .the price of govern
nif-nt bonda, ha5 been caused by our
enormpusTS'eJuc-s, the result of the
hij,'h iDtotective tariff, whicbt he protec
tionists h'av.e been unwilling to iee
Ibwerod (or'fear of injury to their
nanufacturingbusiuess. If, instead of
tapidly liquidating the debt, we had
become invqlsed in war with a strong
poweri, the price of bonds would have
lalltUj.'and the banking pystem mighl
have broken-down from their depre
ciation. Tlgfl is evident because the
banks ;caii t&ly receive in notes 90
per cetat of fhe par value of the bonds,
and the 1hw requires that if the mar-,
ket price is less than par the 10 per
cent margin, must be kept good. To
get funds wheiewith to keep this
margin good sach curtailing of loans
mighYba bej;es3ary as would ruin the
business world. A banking system
which -will be affected so injuriously
by either a reat rise or a great fail
in the -value of the securities on which
it is foiirded purely needs amendment.
' Another defect of the system is it's
want Of elasticity. In the most pros
perous! times,when large transactions
need increased circulating medium,
the banks are fettered by a cast-iron
rule. In a financial panic which can
only be allayed by liberal "loans to
terntiea aeptors, wtien men of largo
means may lie driven into bankruptcy
for want of yeady money which the
banks wpuld; gladly supply, this rigid
law lucks up their vaults.
, Tho Banfc of England, by Peel's
'Att of 1844Jis allowed to issue 75,-
000.000 of notes on fjovernment se
curities. .All issue beyond this mustr
be ba3ed bn equal values of bullion, T
one-fojaith pf which may be sil
ver. ; SsomO; think this system
the perfection- of wisdom and
Strength;' jet three ; times since
1844, frizt, in 1847, in 1857, and in
1866, has it been necessary for the
bank, by the? advice of - the ministries
in power fwh'opromised to jprocure
from Puiliirrient Acts of indemnity,
to is3Ue more notes than the law al-
! lowed, in order that the commercial
world miirut escane min. Amnrior
j others the freat' house of Peabody, j
: tbe philanthropist was saved by this '
desperate measure.
N0 such deliberate breaches of the 1
. national baj&king law could be tole- i
; rate4 n ih Tjnited states. Unlike 1
the Englitsh'Chaucellor of the Eiche- !
. i,nrJ nn. SA.tw nt ll. T1
be fprcej "to h)ok on wide-i
. fepreatj ruia withoat powi-r to extend
, reiief. "
i iu tiiO panic oi L&tJ tJie DanKs ol
: v-r . .
ewrf T7 imUatfcd tw giisb
expedient by extemponzm'' a cur-
U: u m.,.i'
! i;ency Tj2- ; They
j greenient clearing
bf balances, due, bt
! forlhe benefit of tl
houe certificates
ut this wa3 only
f lul u uuuout vi tuemgtu ves and oi
1 1 . - i l r a i i i r
New'Tork citv. Thev strenrrthened-
hemselve's fSurtiw by postponing re
tnittariccff tot banks outside of Ne'vv
Vorl.. in nntr ,1ierAfy.r,V nf ,V,
kQt,ArUi;-'A. z. ..m
' tSLO Ul LI1C1L LUDLUUlCl n. . f I ,1 II V til I I I - 4 1
barely: eBcapd insolvency, though
possessing,' abundant securities, be-
cauee bf inability to procure notes.
i WHA, SHALL BE 10KE 1
This is a question of great moment.
vet
our
public men apparently
fear
to
.meet it. - ;iney seem
to prefer to postpone action
till the ruin comes1. The 'discussions
in Congress on the. subject fchowed
no agreement in opiBion while many
of the suggestions were wild and ab
surd. , The - greenbackers urged the
continued redemption of .national
bank notes, and the substitution of
government notes therefor. The "sil
ver men'' would substitute for bank
currency, silver certificates, !, e , cer
tificates representing the silver dollars
in the; gbvenment vaults. Others,
at the head of whom i Mr. Bayard,
K,(lM i . s. . (1 -7 .'
with -all its lialulity
to "wildcat"
Jaere.bie and fraud,
i I havo not space to demonstrate the
fallacieb of these various propositions.
I think it clear that it will be a great
evil to liavp all our paper currency
dependent on Congress, whether it be
greenbacks" or coin certificates.; 1
fad to see fhat the printing of two
per ebbt bonds, and having the 'cur
rency re&t on - thorn, will .make any
difference in principle or in fact, as
Congrfcss can multiply bonds as easily
as notes.: 'the return : to the State :
bank sjsteiLis not, I thick, a practi
cal quehtion. T.ven if Congress should..
Authorize; suel return, the evils of a
currency 'dependent on tho wills of ,
thirty-six legislature", most of them
unacquainted with fiuajcial matters.,,
anil aomb of them corupt, out- ,
weigh! any postable advantage. With '
inter-8tatettrfVel and trade constantly '.
increasing,' lie people should not j
find will not B abject themselves to the,:
iuconveniencefe and losses of chang-
ing tneir currency at every State line.
iiu piarr. wiutoe accepianie to our
people without, such provision as wiljl j
make all the .notes of the banks, no
matter where issued, so guaranteed as
to feirculate freely all over the Union,
and, as far as by man wisdom extends,
pertain to be paid in legal tenders-on
demand. Can a plan be devised to
j secure this, and ai the Bame time pro
vide that the circulation snail be elas
tic, t. cv shall be .capable of increase
when business demands increase and
shrinkage when such demands dimin
ish? 1 :
I contend that if the banks should
be allowed to invest their ; capital in
le.jal tender coin, and to issue notes
not; to exceed in value'three times the
amount of such coin, the amount in
excess oi the value of the coin to be
invested in negotiable paper running
not over three months, these desira
ble ends would be attained.
To explain this I will give exam
ples : ' :
The three banks of Raleigh have
an aggregate capital of $425,000. At
preeeut they issue only $190,000. Un
der the proposed plan they could is
sue, if the wants of the business world
should require, up4to $1,275,000. To
secure these notes the banks would
have coin, $425,000, and $850,000 in
short time paper.
The banks of North Carolina had
in .October. 187G.-a capital of $2,376,
000, with a circulation of $800,800,
Bojfore 18G1 they had a circulation o
five or six millions. Under the pro
posed plan their maxinlum circulation
wojuld be $7,128,000- To redeeai
these notes the banks would have in
coin $2,370, 000, and in shoit time
bi'.js $4,752,000. ;
Some are startled at this sugges-1
tioti as savoring of "wild cat" bank-1
ing, but in reality it is entirely safel
It is not an experiment. It has been
often tried, and when tried honestly,
has always succeeded.: Sorue of the
best banks in the world have had, and
now have suchj p?wer. The Imperial
B ink of Germany, a most sound in
stitution has it. The Bank of France
is a bank of this sort, and has passed
successfully throftgh the most trying
political revolutions and financial
stomas. '
Wisely and honestly managed this
is as safe as the national
banking i
VA'ithout wisdom and
stitution is secure, as the depositors
of the Exchange National Ban- of
Norfolk, the Marine National Bank
of :Newi York, and over one hundred
others which have gone into the handa
of 'receivers, havo found to their cott,
Carelul supervision by the officers of
the government and prompt subjec
tion of offendera to. criminal prosecti- ,
ticin havo greatly increased :the safety 1
01 our present system, ana
tbe sumo in th future.
will dp
The advantages of the proposed
P-an are obvious : J.
1st. The new -currency would be
elastic capable of expansion when
business is buoyant and the demands
for money are .great,, and it would
contract naturaliy when business is
diill. The volume would seldom be
.erual to the maximum. Many of the
old conservative parlks never reached
tLe highest limits, because eligible
borrowers were not found.
2nd. The rate.cf interest would
fall, owing to the increased supply of
currency. Since 18C5 banks in the
South have charged as hich as 18 to
30: per cent per annum interest. It
is ot at all wonderful that our far-
mers and other business men have
been ruined. With money at 6 per
mnt radilv Aad. nn th a.vnritv hf
innminr crona. thv cmibl mv rb'
4or tueir supplies auu avuiu we ruin-
il f : J " 1 L . -j jB
; ous losses of workiner on credit. tav
ing for the use of the capita) thus
obtained at the rate of 30 to 50 per
cent per annum.
Can it be so provided that the bank
notes will have full credit throughout
the United States Can they be made
as secure as the existing bank notes?
lliinlr fbaaA-'nUAafinna mv rtAon.
ewered affirmatively.
Two plans sug-jjest themselves for
tie accomplishment of this result:
1st- ouusuiaie- ior tue exisuns
i . . i H
bjb em a greal aUK oi tne' umtea
States,' with branches in all the
stf.pH lit thfiTlAnl- nf Frn withitc
departmental brohcheS. Against such
an institution there is plainly a deep-
. .. . . i 1 :. , l : 1 : -1. I. j 1
ejiicu uiejuiiiw, wuiuu una ucncwiu-
eel from the? Jackson deadly
fight
with the second 'Bank of the United !
States;'' but there seems to be nc-
reasonable ground for
Concluding
that another institution in our day
would necessarily be unsound or un- '!
fortunate. The Bank of France has ;j
been eminently successful for years. 1
and the Imperial Barik of Germany.;'
is moving on with similar prosperity", r;
2d. Assuming that such a scheme -will
not meet th approval of Con- ?
gl ess, 1 suggest that the present sys-
tern could readily receive the proper i ;
modifications. Lt thfre be the same, :
or. more strict surveillance by the
government. Let there be even heavier
penalties inflicted for misfeasance by
the officers, feet there be fre- j :
(juent publications of the condition
of the banks. Then let them substitute'
legal tender coin for the bonds of the
United; States, and have the privilege
of issuing notes" payable to bearer,
provided, as heretofore suggested,
that one third of the amount shall be
BtpreBflnted by coin,! and two third
by negotiable paper running not over
three months a large proportion of
the coin to be in g aid.
Jn order to make these notes uni
versally acceptable, the coin might
be deposited with the government,
m d a sufficient tax, levied on the cir
culation, should be Us d as an insur
ance fund, out of which the
notes of
insolvent banks shall be paid. .ThiB
proceeds of this tax are not needed
by the treasury, and as the goyern
ment would have control of the same,
us well. as of the coin of the banks, it
could safely guarantee the circulat
ing notes. .
J'rom 18G1 to' 188b' inclusive 112
national bauks have gone into the
hali J a of receivers. These issued
notes equal to $H,2r;i38. The pro
ceeds of the tax on circulation for the
same period amounted to $63,706j
7'h, hhowing that the present tax
wijl be ample to indemnify the gov
ernment on account of its guarantee.
Even if by any possibility the govern
ment should bo called on ito supple
ment this funjl out of the treasury in
order to make note holders narmless,
I contend thai a sound circulating
medium is as important to the gen
eral welfare, and has as much claim
' on the paternal care of the govern
; ment, ah the postal system, or other
' governmental function constantly
I aidod from the public, treasury.
Borne may object that if Would not
be safe to entrust the government
j with the custody of the capital of the
tanks,, but that ia done tinder the
present system. A. government cer
tificate for bdnds deposited is no
in ore secure than such certificate for
j:oin. -
It will be noticed that I offer noth
ing for the protection of depositors.
I do not think it is the duty of the
government to take care of private
interests. Moreover, all banking sys
tems need the jealous watching of
their neighborhood customers with
their eyes sharpened by self interest.
o aid in holding bank officer s to their
duty. v '
j If the proposed system should be
adopted, there woulel be enough pa
?or fcirculation without '"greenbacks
hese. relics of the great civil war
should be called in and cancelled.
Their retention will lead to embar
rassment continually.
Kemp P. Battle.
, The Signal, of this city, says that
Ray and Anderson, who committed a
brutal murder in a Mitchell county
mica mine some years ago, have been
found. It says: "This celebrated
murder case, the trial, conviction and
escape of the defendants, is still fresh
in the minds of our readers. The
immediate friends of Bay and Ander
son may know where they are but the
public nave heard nothing from them
since they escaped from Asheville jail.'
We have just learned- that a gentle
man from, this State who is now do
ing Europe has written to a friend in
this city that Ray and Anderson and
heir families are living in- the north
ern part of England and are thriving
farmers' and cattle raisers.
In Brief, And to tbe Point
Dyspepeia-ia dreadful. Disordered liver ia
misery. Indigestion is a foe to good na
ture. ; The human digestive apparatus is one
bf the most complicated and wonderful
things in existence. It is easily-put out
of order.
I Greasy food, tough food, sloppy food,
nd cookery, mental wcrry, late hours,
rregular habits and many other things
which ofight not to be, have made the
American people a nation of dyspeptics.
But Green's August Flower has done a
Wonderful' work in reforming thii sad
buBinteea and making the American peo
ple so healthy that they can enjoy then
mS " a&SJ
without
htMilth Rut fJrpnn's Auciutl Flower
lionesty no in- ; brings health and .happiness to the d s
the depositors ! peptic. Ask your druggist for a bottle.;
jseventy-flve cents.
People in California go to other
States for their' health and peop e in
Other StateB go to California for
theirs The good things of this life
'are .always a long way off.
' Skin diseases cannot be successfully 1
treated br external applications. The
iwoper' way to cure Buch colpplaiots i" to :
punry tne Diooa witu iyer sarspparu a. ,
Under the vitalizing influence of this
medicine all the functions of the body
are brought into healthy acti n.
1 The St. Louis J'ost-JJi.atrt sug
gests ' that Dakota should be com
pelled to knock the snow off her feet
before coming into tne Union.
! . ; AUVICK 10 JC OTHERS.
,' Mrs. Wlnslow'a Soothing Syrup should alway
be 'lsed when children are cutting teeth. It re
iieres the little sufferer at once, it produces natu
ral, quiet sleep by relieving the children trom pain,
ana tbe little cherub awakes as "bright as a but
ton." It is very pleas&ut, to taste; soothes the
child, softens the (rums, allays all pain, relieves:
wind, emulates tbe bowels aud is the best known
reidy for diarrhoea, whether rising trom teeth
Id? or other causes. Twenty-five sects a bottle
! Write to Mitchell Paper 3ox Go.
j Petersburg, Va., for boxes.
, ' " "
' Ahe, T sks ,?n Infftn C0,i? ure
j thin, and the golden rod was yellower
than unusual. This, the weather-
wise say,
is indicative of an open
iwinter.
A Famous Doctor
Oiu-'O saiit tliat the secret of good health
consisted in keeping the head cool, the
feet wartti, anil the bowels open. Hail
this eminent physician lived in our oSiy,
ami known tho merits of Ayer's Pills
as an aperient, lie would certainly have
recouimeniled them, as o many of his
distinguished successors are doing.
The celebrated Dr. Farnaworth, of
Norwich, Conn., recommends Ayer's
Pills as tiio best of all remedies for
" Intermittent Fevers."
Dr. I. E. Fowler, of BridgeiKirr,
Conn., says: "Ayer's Pills aro highly
and juniversally spoken of by the people
about here. I make daily use of them
Jn ray practice."
Dr. May-hew, of New Bedford, Mass.,
! says: " Havi ug prescribed many thou
sands or Ayer s nils, in my practice, i
can unhesitatingly pronounce them the
best cathartic ia use."
. The Massachusetts State AsSayer, Pr
A. A. llama s, certilies : " I have mail.
careful analysis of Ayer's Pills. T
contain the a-"tive principles of v
known drugs, isolated from inert n.
ter, which plan is, chemically speaking,
of great imKrtance to their usefulness.
It insures activity, certainty, anil uni- 1
fonuity of effect. Ayer'a Pills eontaiu
tio metalltc or mineral substance, but
the virtues of vegetable remedies in
skillful combination."
Ayer's Pills,
rrepmrcd by Dr.,T. C. AycrS; Co.,Irfwcll,MM.
Sold by all Ueera In Mxltrtl
18S,
22 YEAIBS
IN THE-
CLOTHING BUSINESS.
With the vast experience cf eo many
veara and the advantages of a successful
; and prosperous career, lam still in the
front rank with the Clothing Houses of
the South; but desiring to make a change
in my buaineaa, I am now offering my
superb stock of
CLOTHING
AND
(.'cntleiiirirsFiiniisliiiiiiiioiMls
-AT-
(VERY LOW PRICES
; This is no sham, but bona fide offer,
'of which all will be convinced who call
at my store and examioe my stock and
prices. Remember tbe place.
L. Rosenthal 6c Co..
POIULAR CLOTHIERS,
Mo. Hi FayeUWllU Bt.
Bnocbitia, Vrimop n Coush. Iortptei.t Cmuwmp-1
i:ax Ana r :r t pwumiwn
nnmi la KWMcd msa o
t on. T.'. Oeauiiw r. Buii
trtn-A f)n p told only In
irhiit lrramnt, rl beafa OCT
iw:rterwl T-TuIe-llArki wlti
f ac-f mile art im
fftnresi otjatm W.
k8
Sols) I
SALVATION OIL,
The Greatest Cure on Earth for ?in,
Will relieve more quickly than any
other known remedy. Rheumatism,
Neuralgia, Swellings, Bruises, Burns,
Scalds, Cuts, Lumbago, Sores, Frost
bites, Backache, Wounds, Headache,
Toothache, Sprains, &c Sold by all
Orugjrists- Price 25 Cent a Bottle
C. B. EDWARDS.
I. B. BROl'GHTOX.
HOWARDS & BRoruilTON,
PRINTERS AND BINDERS
Blank Hook Manufacturers.
We have the largest and best equippod
c ?tablishment of th k'nd in this State.
Oar -work is first-class, and we give thf
i Tactical experience of over 15 years iu
.'to business to all work entrusted to us.
Our Business and Professional men can
et anything needed in our line at short
t.otice.
ut'R Ll-UCERS AND IJLAXK HOOKS
K-euerally are notsurpassed for durability.
Order solicited and prompt attention
riven.
Mm i l'.ROfiilWN,
Printers and Binders,
Raleuui, N. C.
Family Supplies
J.R.FERRALL&C0
222 Fayetteville St.
New, f resli and desirable goods arriving
daily. !
FerriB Fulton market corn beef, smoked
beef and tongues, N. C. hams.
N. C. i.oe and cut herrings, new buck
wheat, new raisins, currants and
- ' citrons.
Cranberries, evaporated peaches, apri
cots, apples, raspberries, &c.
v 20 barrels choice
apples. .
We can and do sell the Best Goods for
the Least Money, and are confi-
dent we an convince every-
body of that fact who
will give us a '
trial.
Goods delivered to all parts of the city
FREE.
HEADQUARTERS
WOD
tiW
LONG AND CUT,
6
C 3D A IL,
ANTHRACITE,
I
White and Red Ash,
Furnace,
Egg and Kut,
Bituminous Tennessee,
Kaniiwha
Splint,
From
West
Virginia.
Lights easier and burns loDger than any
other soft coal on the market. One
hundred tons now on the way.
Give it a trial.
PHIL. H. ANDREWS 6t CO.
jOTICETO CITY TAX-PAYEIRS.
The fcity tax List for 1887 has been
placed in iny , hands fore collection. 1
will be in my oftico for -that purpose
ev ry day from 9 a. ni. td 5 p. m. All
taxos not paid by December lBt' are sub
ject to a penalty of ono- per oent and an
additial one per cent on the first day of
fach month thereafter until paid, ,
t C H. ROOT, City Tax Collector.
Ott27dlw.
Tanner & Uelaney Engine Company
RICHMOND, VIRGINIA.
Business established 1865. The moat
yiroplete Machine Shops in the South
Engines, Boilers. Saw-Mills and Ma
ihinery. Light and Tramway , Locomo
tive. Pole Boad Locomotives a Specialty
W Correspondence Solicited. "Vend ten
Catalcrue.
i 1
TTKSDIXO AD V EUTI8KR8saoubfa44rest.
; 6EO. I. KOWEU A CO
I ??raS 8twet' lrBW X aty T JAt
I 1 truo hew.fuxtr. Will bs snt on
mi on : r
i v , '
T
W. H. & R. S. TUCKER & CO.
:o:
FOR THE VISITORS
TO OUR
STATE FAIR.
We can show you the largest and
most elegant store room in our State
the peer of any in the South really
one of the most interesting Bights in
the city of Raleigh.
Better far, we can show yon the
most attractive stock of Dry Goods
of all kinds, such as are peculiarly ap
plicable to our peopled wants and
wishes, to be seen in this country.
Dress Goods,
Silks, -
Ladies' and
Misses'
! Wraps,
Carpets,
Hugs, .
Upholstery,
Gentlemen's
Furnishings,
Gloves,
Hosiery, ',
U,nderwear,
' Ac. :
: We extend a cordial invitation to
j every one.
ff. II & K. 8. TU KEK & CO.
I buy for eashj
and sell at low-
est figures, the
best eloths in
the market
made, to order.
My stock is well
selected, and I
defy competition
in first-elass work.
Give me: a trial.
P. J. Duffln.
109 1-3 Fayetterllle St.
Slimmer has Struck the Town
-AND
John S. Pesoud
THE
Old Reliable Druggist
Eas struck a popular chord
in introducing one of the
Old North State's Treasures
THE LINCOLN
LITillA WATER,
THE
BEST OF ALL WATER
For Gout, Rheumatism and , all '
Kidney and Bladder Troubles.
LINCOLN LITHIA WATEE.
John S. Pescud,
Druggists and Seedsman, 118 Fayette
j ville Street, Raleigh. N. G.
j Sole Agent for
; ' ' m ' '
! II 111 111 Ol If I'lllkS
N o More Plies
I've got tbe drop on thess
troublesome pests, and my
new Fans, propelled by a
stream of cool water from
the water works.
KNOCKS 'EM SPEECHLESS
IN .
TWO ROUNDS
Let everybody come now
and drink
Sparkling Sdda,
Delicious Limades;
Renovating IrIoie
Or any other Summer Drink,
drawn from the best and
handsomest Fountain in all
this sunny clime.
X0 FLIES, BUT BREEZES
That remind you of the wave
washed beach, or the tower
ing peaks in the land of the
clouds.
Jees, Minerals and Juices,
That are refreshing and in-
vigoratiiig. . My store is a
j morning, noon and evening
resort, and all ' my friends
and patrons are
ALWAYS WELCOME,
Vistors : to the city cordi
ally invited.
a5no. V. MncRai
Drugeist and Pharmacist,
Cff Witonfiaftrtin and
UtfU. StCtMekh, N- a
DRY OOOOS.
tie rociuonis sesmittiiioo co u
MOST ECONOMICAL FUEL FOB
GRATES AND STOVES.
!' : .
We append a tew certificates from peraoa Who
led it lust winter:
. P. H. BALI. SUU Trascr, an:
lEMRS. JoR POWSLI. f
(irKTi.KKi:- 1 am i.iuch pleased with the Pi
thonus foal (urnied hjr yi lt wtnter. I fin
rcco!nran1 " a satisfactory In every re-
V . r. Wllfr, Jnurrtirrr nirffiiSiUl(Uii, it
Saw. . ' - 1
I used the Puoalmntos'Coal in a nottable irtxte
1 .st winter, and like It so well 1 win use It attUn
i ext whiter.
H. 8. BlTCliiJfiS, imm JUkrr, mj: ,
I used the Pocahontas txat last winter In a
i rste at home and In a stove In my shop. I t .
i lit to any Coal I hare ever used, either hard or
tt. I can rrqulato my fire better tbao wlUi any
ther and find It more econotiiicaL
(tfL T. C. WILLI AIS, ItsiriBCe i?flt,UTs:
1 used the Pocahontas Coal last winter In open
r. re-place grates tn the Central Hotel almost ex-'
.luslTfly. and areatly prefer It to any CJ I nave
rverused. It burns longer, produces less asbes "
and less smoke and soot than any bituminous Coal
I tare used, and burns sufficiently free lot all
.irwtical purposes.
H. W. Pfilrr is lnn, liKif., Hn:
I used the Pocahontas Coal last winter la a
rate. It burns frerly enouc"!, lasts well, makes
very little smoke or ashes and no offensive orUor.
I regard It as the most economical fuel and prefer
it to any Coal I hare erer used.
P. ClWrlt, Imnirt ijtit, mji: -
I used the Pocahontas Coal last winter and am
much pleased with It.
LEt. 1. 1K.IITT, at Staff latisnil Bank, utk:
Say what you like of the good qualities of th
. rocahontas Coal for fuel and 1 endorse It.
Many other testimonials from citizens of -Ral-iKh,
who hare adoitted the PocahonUs Coal for
el, could be aad if th y were needed,
or sale by ,
Jones 6c Powell
Miners' Affrnts, Raleigh, N. C.
Ai, 'jraclte coal of all kinds. Long anl lut
Wood ,ila) for sale at all times.
NJEW!
NEW DRUG STORE,
Pure and
Fresh Drugs,
Competent Pharmacists.
We announce to the public that we
iiave just opened a new drug store in the
' ity, corner of Cabarrus and Dawson
treets, near the Union depot. We have
ust put in a large and carefully selected
tock of pure and f resh drugs. v e have
:x corps of competent pharmacists, who
-vill accurately compound prescription
tay and night.
TOILET ARTICLES.
A complete line of toilet soaps, pcr
umes, hair-brushea, tooth-brushes, so.,
SPECIALTIES.
We will make a specialty of cigars and!
obacco, and will supply the public with
he best articles at the lowest price.
Proprietary Medicines.
This department of our store ia up
lied with every standard preparation
iemanded by the trade.
In short a complete line of goods in a'
complete store.
A. W. Goodwin 4 Co.,
Cor. Cabarrus and Dawaon Sts.
I
GOOD NEWS
ths I. S. Mail
CIRCULATING
LIBRARY.
:i
I
i
Ia a Library of Beveral .
THOUSAND VOLUMES,
I
By standard writers cm every subject, jiatly
auu suoaiautiaiiT uouoo; not connnou
tn IU use to the city, but can be .
SENT BY MAIL
To subscribers everywhere, all for a very
SMALL FEE.
Ail subscribers are enrolled ai memliers witlU
out extra chaw, of tue book-Buyera' Na
tional Co-orrative Associatioo, and
ill be sunplleU with nilteellancous
books of all kinds for their own
ose, at lowest wholesale
rates. A pouts wanted.
Address
J. . Denmark Sc. Co.,
HanaKer N. C Department, Baleigli, N. C.
1100. 100, 100, 100.
I BREECH-LOADING
$9.00 to StO.00.
Ten Dollars
Buys a nice double-barrelled Breech'
loiding GUN that will shoot equal to
.a more costly! one.
GUNS AND PISTOLS
i
OP ALL KINDS.
An examination of these good aolioited
Hardware
Of every description. SOsh,Doors,blinds,
wi ana Heating Btovea, Kubber
. Leather Belting, Lime, Piaster,
Cement, Paint, Oil, Glass,
Largest tock in North Carolina.
(Julius Lewis & Co.,
Opposite Market. Rnleigh, N. C.
NOTICE.
I am now well prepared aad equipped
to do anything in the
MARBLE OR GRANITE LINE.
Monuments, Headstones, Jtc, and in fact '
f.nvthitlff in th atnnA 1,m -4 ' ,
, -rices as canjse had anywhere.
Chas. A. Goodwin
A
si
fa I