North Carolina Newspapers

-PU RUSHED AT- WILMINGTON, N. C, . . i nlA Kir C $1. 00 A YEAK. IN uV 88888888888888S88 sssgssiSSSHISsS. 88888888888888888 8888888888888SS88 ssassawsssssiuws iitiaow t 82888 s 8fl8S88fS88888883 88888888888888888 J1AV I U o in 1 v I Entered t the Pet Office .t Wihhtgton, N. C, as Second Class Mattcr.l -. SUBSCRIPTION PRICE. The subscriprion price of the Weekly Btat b as follows: ' ai m Sinjle Copy 1 year, posage paul fl " " 6 months w " S months V.i . A SPLENDID OFFER. AH readers of The Weekly Star should avail themselves of the splen did opportunity offered , them of securing the Stoddard Art Album at a purely nominal price. Each Series, containing sixteen magnificent photo graphs of noted scenes and places, may be , obtained by sending, one coupon, cut from this paper, and twelve cents in money or stamps, There will be sixteen series in all, and when completed they will form one of the most beautiful and in structive works of art that ever adorned a parlor or library. ad advertisement in this paper for full particulars, showing how this beautiful work can be had for less than one-tenth its value. VERY IMPORTANT During the past two months bills have been mailed to about sixteen hundred subscribers to the Weekly Star. The aggregate amount due on these bills was very large, but the aggregate amount thus far paid is comparatively small. It is hoped every subscriber in ar rears will read this notice, and that he will forward the amount due us at once. Jt is unjust to the proprietor to read his newspaper without paying for it fully as much so as for the proprietor of the paper to eat the farmer's chickens and eggs and then fail or refuse to remunerate him. We thank those of our subscribers who have paid' us, and trust this ap peal will not be lost on those who have not paid. SAVE THE COUPONS. Readers of the ' Weekly Star. should cut out the coupon for the Stoddard Art Album from each paper as received. Send one coupon and twelve cents lor each Series. , There will be sixteen series, in all, of thismagnificent work of art. iz series' are now ready, it you wish to see one Series before' order ing others, do so.' You will want all. Kead advertisement in this paper for further particulars. CHEAP MONEY. Whenever there is a proposition to increase the volume of the currency by the coinage of more silver or by repealing the tax on State banks to open the way tor their establishment, the cry is raised about "cheap money," "inflation," &c, both of which are terms that really mean nothing as applied to this country, j Inflation is a comparative term. An increase in .the volume of the currency, although it might be large, doe7"not necessarily mean Inflation. There can be no inflation no matter how large the volume of the currency may be while there is use for.it, It is only when there, is more money than there is any profitable use for that there can be inflation, and this country never has had and probably never will have more money than it could use and use advantageously. If every ounce of silver taken out of our mines which can be spared from the arts in which it is used were coined, it would not make money so plentiful that it could not be profita bly used in developing the resources, in Duuamg railroads, constructing canals and in establishing industries in this wonderfully endowed land of ours, mere has been, is and may be too little money, but there is little danger of there ever being too much, which is what is generally under stood by inflation. "Cheap money" is another of the deceptive, catch phrases that is used to play upon the fears of the timid or trie selfish who shrink from the agitation of financial questions as though they were loaded and danger ous, i nere is not and never has been that thing called "cheap' .money, in this and in every other country a dollar or its equivalent buys more labor, or more of the pro aucts of labor than it is worth, and hence it is that the. majority of men are poor and the smaller number rich. The interest on one thousand dollars will buy the labor of an ordi nary laborer for a. year. In other VOL. XXV. words the man who , pats a thousand dollars out at interest gets more from it without turning his hand over than the field laborer gets out of the sweat of twelve months toil. It is labor and the products of labor that are cheap, not money. , They talk about a fifty cent dollar now, and yet sixty-five-hundredtbs of that so-called fifty; cent dollar will buy a bushel of wheat. Is that 'cheap money" or cheap wheat? Is it because the money is cheap or de preciated that it buys so much Wheat or because wheat is cheap or depre ciated? It is the men who own the money who fix the prices of labor, of the products of labor and of every thing that enters into the mar kets to bexchanged f or mon-y, and the only effect that anJ increase of jhe volume has is that by increasing the amlity of those who have - it to buy they become more 1 liberal in their offers, competition is stimu lated and the prices of labor and the products oi labor go up, but not sufficiently o make money "cheap," for in the years of the very highest prices in this country the laborer never received more than his labor was worth, nor the farmer more for the products of his toil and fields than they were worth. - - , What they really mean by "cheap mdney," if they mean anything, is when money is so plentiful that the man who owns it cannot get a high rate of interest for it. The best condition of things from their stand point is when the many are bor rowing from the few who have to lend, and these fix the rate of in terest to suit, themselves. Then money, in their estimation, is not cheap." It has a fixed and stable value, and the man who passes it out over, his counter at so much per- cent, per annum knows just how much he is going to get out of it. That's the ideal situation, according to the opinions of some who dread "cheap money." But if money were cheap, that is, so easily obtained ana at sucn a low rate of interest that ft could be easily borrowed by people who needed it on the farm, in the shops and elsewhere, -there wou'd be double the amount put into use that there now is, or will be while it is hard to command and interest is high. Money was originally designed as a medium of exchange for con venience in trade between the peo ple of a country and between the peoples -of different -countries. It was never intended to be hoarded and the moment it begins to be hoarded it looses its original and essential function as money. Coin or paper (as the representative of coin) are money while they are in circulation and performing the office of a medium of exchange, but when either is hoarded, they cease to be of more use or real value than the bullion out of which the one is made or the paper upon which the other is printed. The ideal condition in money is reached when it becomes abundant enough to be too "cheap" to hoard, or hide away, but not ''cheap" enough to force it into seclusion, too "cheap for the rich man to idolize, but not cheap enough for the. poor man to look upon with indifference or sus picion, "cheap" enough to be within the reach of every industrious man, but dear enough to be prized for the good there is in it and the useful ways in which it could b,e employed. Gen. Frye's United Industrial Army, which left Southern California the other day to tramp it to Wash ington, struck it rough. There are about four hundred of them, and they were nearly starved to death- going through the cactus country. It is said that among them are many boys, ministers, lawyers, merchants and mechanics. There seems to be a shortage of lunatic asylums in this country. I It is said that it is Mrs. David P. Morgan, of. Washington, who is sup plying Miss Pollard with the money to pay the expenses of her suit against Breckinridge. She has never seen Miss P. and doesn t want to see her, but believing her story believes that the silver-tongued gentleman ought to be rebuked for leading the double life he did lead through all those years. , . i Hon. Charles Francis Adams has been studying up on the bi-metallic question, and has become a convert to bi-metallism. There is a very broad field for study on that ques tion and plenty of room for converts. A denizen of Middletown, N.t Y. who was so anxious to breath .pure air that he went around the other day snatching cigars and pipes out of their mouths of the smokers he met is now sniffing the air of the jail. Effects of the Trees In the Up-Country A gentleman from "Mount Airy says that in that section of the State, and in Randolph and Guilford counties, not only the fruit forming on the trees, but the trees themselves, have been killed by the recent cold snap. " Mr. Van Ltndley, nurseryman at Greensboro, be said, esti mates his loss by the freeze at not less than $10,000. k E THE PALMETTO WAR. INTERESTING : NEWS FROM SOUTH v . ; CAROLINA. . The reeling tn Wilmington All One Way Tall Details of the Wight at Darling ton An Unprovoked Massaore The Dead and Wounded A Newspaper ia Xourainjc. . There was a great deal of interest and much excitement manifested here yes terday over the situation in South Caro lina. Toe sympathy for Tillman and his janizaries was too small to be seen even with a microscopic eye. - But there was indignation instead at the tyranny which finally drove -toe oppressed people of our sister State '; ; :y . .; ; TO DESPERATE MEASURES, and on all sides the sincere wish was ex pressed that Tillman and his spies would be routed "horse, foot and dragoons." : The thirst for the latest news from the "seat of wat" was intense, but very little of a reliable character could be obtained until night. .'. , V i . In the forenoon, a telegram was re ceived from. Washington City by Mr. Win. H. Bernard, Agent here of the Southern Associated Press, from Mr. P. V. DeGraw, General Southern Manager of the United Press, stating that infor mation had reached there that . Tillman had . . . .-. . SEIZED THE TELEGRAPH LINES in South Carolina .and prohibited the sending of any news dispatches beyond the limit of the State. Telegrams re-" ceived last night confirm this intelli gence with the qualification only that dispatches shall not be sent unless they come from the State authorities. Among the well authenticated reports that reached here yesterday, was one that the WHISKEY DISPENSARIES At Darlington, Timmonsville, Florence, Sumter, Effingham, and perhaps other towns, had been raided by the indignant people and their contents almost com pletely destroyed. " . . Concerning the fighting at Darling ton, Friday, an account of which ap peared in the Star yesterday, the Dar lington correspondent of the News and Courier, gives the following detailed statement: V- Darlington, March 30. About 5 o'clock this afternoon a tragedy occurred here, the cold-blooded brutality of which will forever stain the fair name of the State. AU had gone on quietly np to that time, and the day had been an uneventtul one. Attorney-General Buch anan had been here, everything had been satisfactorily settled and the spies had been relieved and they were about to take their departure. Fourteen of them, armed with Winchester rifles, were at the Coast Line depot. The citizens had no idea of taking any further action. A personal difficulty occurred at the depot between two young men. citizens of the town, hearing of which five gen tleman of the town, two of them totally unarmed, went to the depot to see what the disturbance was. AN UNPROVOKED MASSACRE. Without any visible cause, as is testi fied to by the few witnesses present, one of the spies himself confirming this, these fourteen spies began firing upon tne five men who had come up. The shots were fast and furious for a few moments, numbering at least seventy five in 'all. In a moment there were heaped on the depot platform, the dead bodies o two citizens of the town, Frank E. Norment and L. I; Redmond, and that of Spy Pepper, while alongside of them lay a second spy. McLendon, mor tally wounded. Mr. Louis Norment, a brother of Mr. Frank E. Norment, was shot in the side and in the right arm. Mr. K. D. Lucas was shot in five places. and Cbiel of Police Dargan, who came solely to perform his official duties in connection with the personal difficulty allude dto above between the two young men. is dangerously wounded in tne side. SAVED BY. A POCKETBOOK. A pocketbook in Mr. Louis M. Nor ment 's pocket was the only thing, that saved his life. After remaining here three days and doing absolutely nothing, the spies closed their campaign in Darlington by fourteen of them, armed with Winches terrifies, firing upon five innocent men, and that without the slightest provoca tion. Such a result could only have been expected from such irresponsible men armed by Governor Tillman with Winchester rifles and reckless instruc tions. . McLendon, the spy now lying at the point of death, admits having fired the first shot. : These are the simple facts in the case and they cannot be controverted. After the slaughter the remaining spies tooK to their heels and ran down the railroad track, taking in the woods in .every di rection. THE MURDERED MEN. Mr. L. ' L. Redmond was about 25 vears of age and unmarried. He moved to Darlington from Durham, N. C, abou three vears ago. Mr. Frank E. Norment was about 26 years of age. tie leaves a wiie ana three little children. He was one of the most loyable of men and did not have aft enemy in the world. Frank, manly, unusually intelligent and possessed of the very finest attributes of mind and heart, he won the friendship and esteem of all who knew him. Decidedly one of the most popular men who ever lived in Darlington, this community mourns in deepest anguish to-night over his ter rible end. - . -. As heretofore everything in town is quiet to-night. v " The Columbia State appeared yester day with inverted column rules, and with the annexed explanatory editorial: - -V- MARTYRS FOR LIBERTY. The State, for the first time in its history, outs on the garb of mourning. It mourns lor the loss oi two Dngnt I " m . a m lives) sacrlfied in Darlington yesterday for the canse of liberty. If the maxim be true that "resistance to tyrants 4s obedience to God, then the citizen dead of Darlington are martyrs, to be honored with the patriots ot the Revolution and the heroes of the Confederacy. They fell in defence of their homes and their freedom and the liberties of their Sate. Then . names will live m our history. The- infinite pity of it is that such men should have fallen at the hands of aueh men as killed them and at the will of such a man as bad them killed, xet at their bier the torch of courage and natnotism will be new-lighted for all South Carolina! Speaker Crisp has declined the ap pointment of U. S. Senator to succeed the late Senator Colquitt, because in acceptinff the position of Speaker he feels that be has incurred obligations to the Democratic Darty throughout the country. - aMa - WILMINGTON, N. 0., FRIDAY, APRIL 6, 1894.' TWO FIRES YESTERDAY ; Early In the Morning A Frame Dwelling - Peatroyed and a Brick Store and Heai- - denoe Badly Damaged-One of the Oo- : oupants of the iAtter; Found. Dead to " the House The Zioaaes and Inauranoe. There were two fires jm the city yes terday morning between 4 and 5 o'clock. The first broke out in a trame dwell ing and store, corner of Tenth and Daw-, son streets, at 4.80 a. m. land completely destroyed the building. , It was owned by Jas. G. Blain, colored, and was in. sared for $600 with Messrs. W. W. Har ris & Son. - lv . :: The second fire was discovered about half an hour later in the two-story brick building corner of Front and Orange streets, owned .by Mrs. A. P. McClammy and occupied on the ground floor by. Mr. Tno. Sijva.as store restaurant andc I residence, and the floor above by Mr.. G. M. Altaffer and family'as a residence. The basement of the building was occu pied by negroes. ; -re f - " : ' The fire broke out in the part of the building occupied by Mr.Silvaandmade almost an entire sweep of the interior before it was finally put out. After it was thought to have been extinguished it broke out in Mr. Altaffer's apartments above the store, just as the engines and trucks were leaving. . , The damage to the building is estima ted at about si,7U0, covered by insur ance with Mr. Jos. D. Smith for (2,025 in the Liverpool, London and Globe, and $1,000 in the Guardian. Mr. Aluffer had insurance on his furniture for $500 which will scarcely cover his loss. Mr. Silva was not insured. A GHASTLY DISCOVERY. After the fire was extinguished, the dead body of Mr. Silva was found in a room back of the store. He had evi dently been overcome by smoke and suffocated while trying to grope his way to a door in the rear of the building. His body when discovered was clad in shirt and drawers, there ' was a bruise on bis forehead and the skin on one cheek was abraded, probably by contact with the wall or door of the room in which he fell and died. Ida Bookman, a young white woman, who was staying with Mr. Silva, and who escaped from the house in her night clothes, said that she was awakened and found the house on .fire. She awoke Mr. Silva, who ran into the store ad joining and called to her to bring him a quilt from the bed. She gave him the quilt, and finding the smoke overcoming her ran to a. window, opened it and got on the 'Sill, when some one gave her a push and she fell out of the window on the steps of the basement, bruising her self severely. After the body of Mr. - Suva had been viewed by coroner Walton it was re moved to the house of . Mr. Frank Thomas, on Walnut between Second and Third streets, to be prepared for burial. The funeral will take place to-day, prob ably. . Mr. Silva was said to have some three or four hundred dollars in money and other valuables, but diligent search made bv tnecoroner and some of Suva s friends failed to reveal any such sum. They found in bis trunk sixteen dollars in coin, a silver watch and two gold watches, but nothing else of value. . 1 he deceased was by birth a Portu gese. He came to Wilmington about tour vears ago as a steward on a sailing vessel from the Azore Islands, and his real name is said by his associates to be Emanuel Mitchell. He has no relatives in this country. Death of Capt. Chadwlok. Capt. Martin Chadwick, a well known steamboat man of this city, died yester day morning at his residence on South Fifth street, of hemorrhagic fever, after a sickness of several weeks, in the 87th year of his-age. He leaves a wife but no children, and was a member of Caro lina Lodge No. 434, Knights of Honor, GEORGIA'S SENATOR. Speaker Chas. F. Crisp Appointed to- Bnooeed the Iiete A. H. Colaultt. Bv Telegraph to the Hondas Star. Atlanta, GaV March 29. Gov. Northen has appointed Speaker Charles P. Crisp to succeed the late senator Alfred H. Colquitt, Not a word has passed between Gdv. Northen and Speaker Crisp, and the Iatter's name had not even been presented formally to the Governor. 00V. TTTiTilffAlf AHD THE A. C. L; The Bailroad Beady to Accede to All De- I mands of the Constituted Authorities of the State of South Carolina. Wilmington, N. C March 81. Editor of Star: " The following is the substance of my correspondence with Gov. Tillman to day : . : . ' ! - Gov. Tillman called my attention to Section 2582. Revised btatutes of South Carolina, and asked us to run no special trains for any one except the military going to Darlington. I replied . that it was our desire and we would endeavor to comply with the demands made upon us by the constituted authorities of the State of South Carolina. J. R. Kenly. CARD FROM CORONER WALTON. The following letter was received yes terday by Chief of Police Clowe : Dear Sir : I had the body of Ino. E. Silva examined by Dr. Shepard and his statement is that he came to his death by suffocation. There were no marks of violence on his person. I wish you to have the above published for the satisfaction of the public, as there seems to be some misunderstanding about the matter. L C. Walton. Coroner. " OF TUB FIRST ORDEB." Richmond Dispatch The Wilmineton (N. C) Star, of which Mr. William H. Bernard, an old Richmond boy, is proprietor, has just closed its fifty-third semi-annual volume, which event a signalized by an enlarge ment of its Sundav issue. The Star is a lournalistic luminary ot the first order, and we always read it with pleasure on its merits, as well as because ot the affection that we have for its pro prietor. Long may the Star shine and gather in the "shiners. Diligent search was made yes terday in the McClammy building " for the gold said to have been hoarded there by the late John Silva, but the searchers could find nothing. XLY i - . - - 1 ' STEAMBOAT CLAIMS. - In Wnioh Fayette villa and Wilmington . People Are Interested. ' -The Fayetteville ' Observer says : 'Messrs. JGeo. M. Roseand H. L. Cook, attorneys, have returned from Washing ton, whither they went last week to look after : the steamboat claims, generally known as the "Lutterlon claim," and re port the probability of favorable action upon them by Congress. The claims were for $40,000 for Mr. Lutterloh, and $50,000 for the Cape Fear Comoanv. i nese claims have . been consolidated. and the committee reported in favor of $37,500, to be divided eauallv between the claimants." ; The facts upon which the claims are based are as follows i - On the 11th of March, 1865. the Fed eral military authorities seized the wharves and steamboats of the Cape Fear Company and the steamboat North Laroltna, the property-of T. S. Lutter loh; and. used them until the 14th day of the following October, -The claim has been brought, not for pay for such use for Government purposes, but for the proceeds ol the line derived by the Gov ernment from : passenger and freight service not rendered to the Government. but to private individuals. . - - ' l nse are lust claims and should be settled. - Temporary Beoeive Appointed tor the Imperial Fine. Produot Oo. 7 l&r. Du Brutz Cutlar, Sr., has been ap pointed temporary receiver for the Im perial Pine Product Company. . The ap-' pointment was made Wednesday by Judge Bryan of the Superior Court, in chambers, on application of Mr. Iredell Me ares, attorney for bamuel Cohen and other stockholders ol the company in New York city, pending proceedings for the appointment of a permanent receiver to be heard before Judge Brown, ol the Superior Court for New Hanover county, in this city, on the 18th day of April next. Mr. Cutlar's bond as receiver is fixed at $10,000. I The Imperial Pine Product Company is a Northern corporation, which has! a large plant near Wilmington, just be yond the city limits, for manufacturing, by distillation, the various products derived from pine wood. The estimated value ot the property is said to be about $200,000. AS OLD BIBLE. Printed in Iiondon. England in the Tear 1611. '.. Star Correspondence.' j Wallace, N, C March 27. Editor Wilmington Star: Mr, Lafayette Southeriand, of this village, has a large Bible printed in Lon don, in the year 1811. This Bible is an old family relic, and has been handed down from one generation to another. The Bible has been well taken care of and not a leaf of it is lost. Mr. South eriand had the Bible this morning in the store of Mr, L. L. Mallard, of our village. All the spectators present wanted to look at the ancient Book. ' . Respectfully, S. S. Stole a Fair of Steers. : Ed. Williams, colored, is in trouble about two .steers he is alleged to have stolen. The cattle belong to the Cotton Oil Mills. Williams represented that they were his, and offered them for sale. Wash Howard, a colored butcher, who was approached by Williams, was satisfied the steers were stolen, and with the assistance of Mr. Jas. Holland threw Williams down and tied him hard and fast. Sheriff Stedman was informed ot the capture, and deputies Sheehan and King went to the place where Wil liams was held and took .him into cus tody. Yesterday there was an examina tion ot the case before Justice I. M. mo Go wan, and Williams was required to eive bond in the sum of so 00 for bis ap pearance at the next term of the crimi nal Court, l he bond being not forth' coming, Williams was pnt in jail. 'A STAR OF THE FIRST MAGNITUDE." Norfolk Virginian The Wilmington, N. C- Morning Star, which has been brightly twinkling tor the past twenty-seven years, entered upon its fifty-fourth semi-annual volume last Thursday, as sprightly and as bril liantly as a star of the first magnitude. Its history is a record of Wilmington since the civil conflict and its devotion to that city's interests has been as earn est and conscientious as it was possible to be. It deserves the generous sup port of every Wilmingtonian. May its lustre never grow dim. j FLEES AT MAXT0H. Caused Dy an Incendiary Railroad Depot Burned Iioaa About $1,000. Special Star Correspondence. Maxton, N. C March 80. Dear Star Maxton is excited over the work of a fire fiend last night, 'be tween 10 and 11 o'clock. A couple of months aeo the euard house was burned down and as Maxton is a peaceable place, seldom needing such a prison, the authorities did not build another : until this week. The house was nearly j fin' ished last night, when some miscreant piled np rosin and plank inside and set it an re. Mrs. a..J. MCKae saw me nre soon after it was started and gave the alarm. Mayor J. J. S. McRae got there in time to put the fire out, but if the lumber had not been green he would have been too late. i . J Before this fire was extinguished, an other was discovered in the Maxton, Alma & Rowland depot, which was con sumed, together with 150 bushels of corn, a cotton gin, chopper and some other property. The loss amounted to about one thousand dollars. No insur ance. G. B. Patterson Esq., and Mr. John Leach were the chief "losers. This fire was also of incendiary origin. 'Enterprise and Ability Order." of Hlcb ' Charlotte Democrat The Wilmineton Star celebrated its fifty-third semi-annual volume of an en lareement of its Sundav issue, an add! tion of forty per cent, to the amount of . WW.1 . . i reading matter, i ne siak is an excel lent paoer. well edited, and its general make up shows enterprise and ability of a high order. Mr. Bernard, who has been at the helmduring its tweay-six vears of success, has a thorough knowl edge of the practical workings ot a daily newspaper. . : The A. C Xj. Trams in South Carolina. Mr. J. Rl Kenly. General Manager of the Atlantic Coast Line, upon being in terviewed last night, stated that Gover nor Tillman had not interfered with the movement or assumed control of the Atlantic Coast Line trains in South Caro lina nor with the railroad telegraph lines; that all trains are running satisfac torily and everything moving as usual. TAR. CLEVELAND'S MESSAGE VETOING THE SILVER BILL. SEIGNIORAGE His Obj80tiona to the Measure Heoom. mends -Giving the . Secretary of the Tressury Power to Issue Bonds to Pro tect the Gold Beserve When Becesaary. ; Bv Teksrapk to the Moraine Sua. ;J Washington, March 29. Following is the text of the President's message vetoing the Seigniorage bill: To the House of Representatives: T return without . my approval House bill No. 4956, entitled u -An Act Directing the Coinage of the Sliver Bul lion Held in the Treasury and for Other Purposes." . My strong desire to avoid disagree. ment with those in both Houses of Con gress who have supported this bill would lead me to aoDrove it if 1 scrraM believe that the public good would not. be thereby endangered. - and that such action on mv -oart wonld be a proper discharge of official duty. Inasmuch, however, as I am unable to satisfy 'myself that the pro posed legislation is either wise or oppor tune, my conception of the pbligations and responsibilities attached to the great office I hold, forbids the indulgence of my personal desire, and inexorably con fines me to that course which is dictated by my reason and judgment, and pointed out by a sincere purpose to protect and promote the general interests of our peo ple. . . r v THE FINANCIAL DISTURBANCE. which swept over the countrv durinsr the last year was unparalleled in its severity and disastrous consequences. There seems to be almost an. entire displace ment of faith in our financial ability and a loss of confidence in our fiscal policy. Among those who attempted to,assign causes lor our distress it was very gen erally conceded that the operation of a provision of law then in force which re qured the . Government to purchase monthly a large amount of silver bullion and issue ' United States notes in oav- ment therefor, Was either entirely, or to a large extent, responsible for our con dition. 1 bis led to the repeal on the first day of November, 1893, of this statutory provision. We had, however, fallen so low in the depths of depression, and timidity and apprehension had so com pletely gained control in financial circles. that our rapid recuperation could not be reasonably expected. Our recovery has, nevertheless, steadily progressed, and though less than five months have elapsed since the repeal of the mischiev ous silver purchase requirement, a whole some improvement is unmistakably ap parent. CONFIDENCE RESTORED. Confidence in our absolute solvency is to such an extent reinstated and faith in our disposition to adhere to sound financial methods is so far re stored as to produce the most encouraging results both at home and abroad. The wheels of domestic in dustry have been slowly set in motion and the tide of foreign investment has again started in our direction. Our re covery being so well under way, nothing should be done to check our conva lescence, nor. should we forget that a re lapse at this time, would almost surely reduce us to' a lower stage of financial distress than that from which we are just emerging. . I believe tbat if the bill under con sideration should become a law, it would be regarded as a retrogression from the financial intentions indicated by our recent repeal of the provision forcing silver bullion purchases, that it would weaken if it did not destroy re turning faith and confidence in our sound financial tendencies, and tbat as a consequence our progress to renewed business health would be unfortunately checked and a return to our recent dis tressing plight seriously threatened. This proposed legislation is so .related to the - CURRENCY CONDITIONS growing out of the law compelling the purchase of silver by the Government, that a glance at such conditions and a partial review of the law referred to, mav not be unnroutabie. Between the fourteenth day of Aueust, 1890, when the law became operative, and the first day of Novem ber, 1893. when the clause it contained directing the purchase of silver was re pealed, there were purchased by the Secretary oi the Treasury more than one hundred and sixty-eight millions of ounces of silver bullion. In payment for this bullion, the Government issued its Treasury notes of various denomina tions, amounting to nearly one hun dred and fifty-six millions of dol lars, which notes were immediately added to the currency' in circula tion among our people.. Such notes were by the law made legal tender in payment ot all debts, public and private, except when otherwise expressly stipu lated, and were made receivable for customs, taxes and all public dues, and when so received might be re-issued. They were also permitted to be held by banking associations as a part of their lawful reserves. Oh the demands of the holders these Treasury notes were to be redeemed in gold or silver coin in the discretion of the Secretary of the Treas ury; but it was declared as a part ot tnis redemption prevision that it was "the established policy : of the United States to maintain the two metals or a parity with each other upon the present legal ratio or such ratio as may be provided by law." The money -coined from such bullion was to be standard silver dollars, and af ter directing the immediate coinage of a little less than twenty-eight million, ounces, the law provided that as much f of the remaining bullion should be there-J after coined as might be necessary tol provide for the redemption of theTreas- ury notes issued on its purchase,, and! tbat "any gain of seigniorage arising; from such coinage shall be accounted; for and paid into the Treasury." - f This gain or seigniorage evidently in-1 dicates so much of the bullion owned by the Government as should remain aftert using a sufficient amount to coin as manyf standard silver dollars as should equail in number the dollars represented by the; Treasury notes issued in payment oi ice entire quantity of bulliion. These Treas- ury notes now ouisuinuing sou iu tutu lation amount to $162,951,280, and al though there has been thus far but comparatively small amount of this bul lion coined, yet the so-called gain or seigniorage, as above defined, whic would arise from the coinage, of the en tire mass, .has been easily ascertained ti be a quantity of bullion, sufficienttot make when coined, fifty-five millions one hundred and fifty-six thousand, six hundred and eighty-one standard silver! dollars, ,, : - - ; " PARITY BETWEEN COLD AND SILVER. Considering the present intrinsic rela-j tions between gold and silver the main-l tenanceof the parity between the two! metals, as mentioned jn this law, cant: mean nothing less than the maintenances of such a parity in the estimation and confidence of the people who nse oof monev in their daily transactions Manifestly the maintenance of this parity can only be accomplished, .so far as it if NO. 22 laffected by these Treasury notes, and in fine estimation of tbe holders of the tsame. by givine to such holders, on their redemption the coin, whether it is gold or silver, which they prefer. It follows pat while ia terms the law leaves the jchoice of coin to those paid on such re demption, to the discretion of the Secre tary of the Treasury, the exercise of this piscretion, if opposed to the demands fcf the holder, is entirely inconsis--tent with the effective and 'bene ficial maintenance of : the parity between the two metals. H both gold and silver is to serve us as money, and if they to gether are to supply to our people a safe ftnd stable currency, the necessity of pre- viug uue-paxiiy is odvious. oucn ne cessity has been repeatedly conceded in the platforms of both political parties and in our Federal Statutes. It is nowhere pore emphatically recognized than in he recent law which repealed the provi sion under which the bullion now on hand was purchased. This law insists pon the "maintenance ot the parity in value of the coins of the two metals and the equal power of every dollar at all.; times in the markets and in the payment Df debts." '' , -r ... . . I v; CONDITIONS SUMMARIZED, i The Secretary of the Treasury has. therefore, for the best of reasons, not f nly promptly complied with every de- Jiand for the redemption of these Treas ry notes in gold, but the present situa tion, as well as the. letter and spirit of fiie law, appear plainly to justify, if they jo not enjoin upon mm, a continuation such redemption. The conditions I have endeavored to esent may be thus summarized: First The Government has pur chased and now has on hand sufficient billion to permit the coinage of all the silver dollars necessary - to redeem, in such dollars, the Treasury notes issued f djr the purchase of said silver bullion and enough besides to' coin, as gain or sefgniorage, fifty-five million, one hun dred and fifty-six thousand, six hundred ari eighty-one additional standard sil ver dollars. ' ' pecond There are outstanding and ndjw in circulation Treasury notes issued in payment of the bullion purchased amounting to $152,951,280. These notes ari legal tender m payment of all debts, puplic and private, except when other wise stipulated; they are receivable for customs, taxes and all public dues. Wf en held by banking associations they mar be counted a part of their lawful reserves, and they are redeemed by. the Government in gold at the option of the holders. These advantageous attributes wefe deliberately j attached to these notks at the time of their issue. They are fully understood by our people to whom such notes have been distributed as jcurrency, and have inspired confi dence in their safety and value, and havp undoubtedly thus induced their continued and contented use as money, instead of anxiety for their redemption. j OBJECTIONS TO THE BILL. Having referred to some incidents which I deem relevant to the subject it remains for me to submit a specific statement of my objections to the bill novf under consideration. This bill con sist! of two sections, excluding one which merely appropriates a sum suffi cient to carry the act into effect. The first, section provides for the immediate coinage of the silver bullion in the Treasury, which represents the so-called gain or seigniorage or which would arise frofn the coinage ot all the bullion on bald, whice gain or seigniorage this section declares j to be $55,156,881. It directs that the money so coined orjthe certificates issued thereon shall befused in the payment of public ex penditures, and provides that if the nejsds of the Treasury demand it, the Secretary of the Treasury may in his discretion issue silver certificates in ex cels of such coinage, not exceeding the adiount of seigniorage in said section authorized to be coined. IThe second section directs tbat as soon as possible after the coinage of tlis seigniorage the remainder of tie bullion held by the Government shall be coined into legal tender standard silver dollars and that they shall be held ii the Treasury for the redemption of tjie Treasury notes issued in the pur chase of said buillion. It provides that as fast as the bullion shall be coined for tpie redemption of said notes, they shall lot be issued, but shall be cancelled and destroyed in amounts equal to the coin held at any time in the Treasury derived rom the coinage provided for, and that silver certificates shall be issued on such am in the manner.now provided oy law. t is, however, especially declared in said ection that the act shall not be con trued to change existing laws relating o the legal tender character or mode of redemption of Treasury notes issued for the purchase of the silver bullion to be icoined. - '' ' 1 I UNFORLUNATELY CONSTRUCTED. I The entire bill is most unfortunately I constructed.- Nearly every sentence presents uncertainty, and invites con troversy as to its meaning and intent. The first section is especially faulty ip this respect, and it is extremely doubt ful whether Its language will permit the consummating of its supposed purposes. I am led to believe that the promoters of the bill intended in this section to provide for the coinage of the bullion, constituting the gain or seigniorage (as it is called) into standard silver dol lars; and yet there is positively nothing in the section to prevent its coinage into anv discriotion of silver coins now au thorized under any existing law. I sup- Dose this section was also intended, in case the needs of the Treasury called for monev faster than the seigniorage bul lion could actually be coined, to permit the issue of silver certificates in advance of such coinage: but its language would seem to permit the issuance of such cer tificates to double the amount ot seig- nioraee as stated, one-half of which would not represent an ounce ot silver in the Treasury. The debate upon this section in the Consress developed an earnest and positive difference of opinion as to. its object and meaning, in any event I am clear tbat the present per plexities and embarrassments of the Secretary of the Treasury ought not to be augmented by devolving upon him the execution of a law so uncertain and confused. -. - . OTHER OBJECTIONS. I am not. willing, however, to rest my objection to this section solely on these erounds: in mv iudcrment. sound finance does not commend a further infusion of silver, into our currency at tots time un accompanied by further adequate provi sion for the maintenance in our irea- surv of a safe cold reserve. Doubts also arise as to the meaning and construction of the second section of the bilL It the siver dollars therein di rected to be coined are, as the sec tion provides, to be held, m the Treasury for the redemption of Treasury notes, lt is- suggested that strictly f peaking, certificates cannot be issued on such coin, "in the manner now provided by : law," because these dollars are money held in the Treasury for the expressing purpose of redeem ing Treasury notes on demand, which would ordinarily mean that they were set apart for the purpose of substituting them for these Treasury notes. They are not, therefore, held in such a way as to furnish a basis for certificates accord' ing to any provision ot any existing law, If, however, silver certificates can prop erly be Issued upon these dollars, there on to indicate the and function rf thrao certificates.- If they were to be of the samecharacter as silver certificates in circulation under existing laws, they would at best be receivable only for cus toms, taxes, and all public dues, and un der the language of this section it is, to say . the least,' extremely doubtful; whether io& certificates it contemplates wouid be lawfully received even for such purposes, v : - Whatever else'may be said of the un certainties of : expression in this bill, they certainly ought not to be found in legislation affecting ; subjects so impor tant and far-reaching as our finances and currency. In stating other and more Important reasons for my disapproval of this section .1 shall, however, assume that under its provisions the Treasury notes Issued in payment for silver bullion, will continue to be redeemed as hereto fore in silver or gold at the option of the holders, and that if when they are presented for - redemption or reach the Treasury in any other manner, there are in tee Treasury coined silver dollars equal in nominal value to such Treasury notes, then and in that case the notes will be destroyed and silver certificates to an equal amount be substituted. 1 am convinced that this scheme is ill. advised and dangerous. As an ultimate result of its operation, Treasury notes which are legal tender for all debts, pub lic and private, and which are redeem able in gold or silver, at the option of the holder, will be replaced by silver certificates which, whatever may be their character and description, -will have none xf these qualities. In anticipation of this result, and as an im mediate effect, the Treasury notes will naturally appreciate in value and desira bility. The fact that go!d can be rea lized upon them, and the, further fact that their destruction has been decreed when they reach the Treasury, must tend to their withdrawal from general circu lation to be immediately presented for gold redemption or to be hoarded for presentation at a more convenient sea son. The sequel of both operations will be a large addition to the silver currency in our circulation and a corresponding reduction of gold in the Treasury. The argument -has been made that these things will not occur at once, be cause a long time must elapse before the coinage of anything but the seigniorage can be entered upon. If the physicial' aAFaa.b .t . 1. .... r -1 m : ' "' vii tuc uccuuun ui inc secona - section of this bill are not to be realized until far in the future, this moy furnish a strong reason why it should not be passed so much in advance; but the postponement of its' actual operation cannot prevent the fear and loss of con- . fidence and nervous precaution which would immediately follow its passage, and -bring about its 'worst consequences. I regard this section of the bill asembody ing a plan by which the Government will be obliged to pay out its scanty store of gold for no other purpose than to force an unnatural . addition oi the silver money into the hands of our oeoDle. This is an exact reversal of oolicv which safe finance dictates if we are to preserve parity between gold and silver and main tain sensible bimetallism. We have now outstanding more than three hundred and thirty-eight millions of dollars in silver certificates issued un der existing laws. They are serving the purpose of money , usefully and without question. Our gold reserve, amounting to only a little more than one hundred millions of dollars, is directly .charged with the redemption of three hundred and forty-six millions of United States notes. When it is proposed to inflate our silver currency it is a time lor stengthening our gold reserve instead of ' . depleting it. I cannot conceive of a longer step toward silver monotuettal lism than we .take when we spend our gold to buy silver certificates for circu lation, and especially In view of the practical difficulties surrounding the re plenishment of our gold. RECOMMENDATIONS. - . This leads me to earnestly present the desirability of granting to the Secretary of the Treasury a better. pqwer than now exists to issue bonds to protect our gold; reserve, when for any reason it should be necessary. Our currency is in such a confused condition and our fi nancial affairs are apt to assume at any time so critical a position that it seems to me such a course is dictated by ordi nary prudence. i am not insensible to the arguments in favor of coining the bullion seignior age now in the Treasury, and I believe it could be done safely and with advantage if the becretary Of the Treasury bad the power to issue bonds at a low rate of in terest, under authority in substitution of tbat now existing, and better suited to the protection of the Treasury. I hope a way will present itself in the near future for the adjustment of our money affairs In Such a comprehensive and conservative manner as will accord to silver its proper place in our currency; ' but in the meantime I am extremely so licitous that whatever action we take on this subject may be such as to prevent loss and discouragement of our people at home, and the destruction of confidence in our financial management abroad. ' . . Grover Cleveland. SPIRITS TURPENTINE. Fike, of Hickory Mountain townshipMtT owns a mule that is thirty years old. and ' sun worxs as wen as any otner muie ana seems still in its youth, The fre quent barn burnings in the western part of this county have caused a number of mc citizens in vuat iccuun vu raise enough money to buy two blood hounds, which arrived from Pennsylvania a lew days ago, and will be used in detecting the incendiaries when they burn another barn. ; Clinton Democrat: It is with deep regret that we announce the death of Mrs. Lavinia Matthews, the aged widow of the late Thomas Matthews. Mrs. Marion died at her home in Piney Grove on the 20th 'inst. She was a daughter of the late James Sutton and was 26 years old. Charles Tyndall, of Honeycutts, was arraigned before U. S. Commissioner L. C Hubbard Thurs day on a charge of illicit distilling. The offence is alleged to have been commit ted several months ago, but TyndalJ has eluded arrest until Thursday, when Deputy Marshal G. W. Jones overtook him. The oeienaant was oouna over ior his appearance at the next term of the Federal Court. " Raleigh Visitor-. Mr. John Rob inson, Commissioner of Agriculture, says the damage to crops and fruit is no doubt greater than is generally believed. Everything was so green and full of sap. Wheat, oats and corn are hurt, - - The grand jury has returned a- true bill against Orange Page and Mary Smith, bis paramour, both . negroes of the low est class, for murdering Rosa Haywood, alleged to have been 100 hundred years old. It will be-remembered that old Rosa's body was found lying on her bed in her cabin, a hundred yards southeast of the National Cemetery. Page and the Smith woman were at once sus pected. They were captured in Nash county weeks afterwards and brought here and placed ia jaiL ! Charlotte. Observer: The city has purchased the new road engine which it has been experimenting with for sev eral weeks. -The cost of the machine is $3,700. It was not purchased before a thorough test was made of it, and after it was known beyond -a doubt that it came up entirely to all recommendations and all requirements. This Mr. Butler, the city engineer, reported. The engine has saved over a hundred ' dollars on one block. One of its chief recommen dations is the saving of labor and money. It packs the ground thoroughly, and rock as well, which by the bid process required much time and labor, and then the work is not as well done. All who have seen the working of the new engine are convinced that it is a good thing. Si 4 m V :',:.V Sl'v m M .v k. Mi !, HI, r ."Hi I ii !''! I ; i' : - I - - -.-! --.-i'.'U 1., : 3 il;, ' I J