Newspapers / The Alamance Gleaner (Graham, … / Sept. 10, 1878, edition 1 / Page 2
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THE GLEANER GRAHAM N.O. September 10.1876 - E. S. PAKKEK, Bailor. WILL NOT BE HERE.— The mmor LINS gotten out that Genl. Scales will bo here ' .on the IBih of this month, the day of .the meeting of the Republican convcn tion. Whether this rumor has been started lor the purpose of drawing a crowd here that day to hear Tourgee we do not know but wo do know that GENL. HCAI.FI wiU not be hero, lie will speak to the |»eople of this county, and wilt give duo notice of tjio times «ud places. Tho 18th is the appointed day of holding the Republican convention and not Genl. Hcaleaappointment. He will not bo present. BANKRUPT LAW. —A week ago last Saturday tho Bankrupt law ceased to ex ist. The Obxerw's New York letter says OH tliatlast day there were filed in .New York and Brooklyn seven hundred tioii* Hons, and that thirty four of tlieso poli lionets iiloil schedules showing an in debtedness of six millions of dollars, and assets. About fourteen inlN lions optlebls was the sum of tho liabilities OTSIO SOT en litindred]wko rushed In at the )a*t day to avail themselves of the bene fits of an expiring law. In some Wes tern cities tho rush was almost as groat, especially Chicago. In tho South there •Was little done by tho bankrupt courts; comparatively. As poor as tho South is, it is we really think hotter off financially than the great North; and with just,honest government, with legislation for tho peo ple rather than the bondholder, H4s dos tined td bocomo tho wealthy portion of our cxtensivo country. Tho North had wore money, did a bigger business and has bureted worse than tho South. THE SEVENTH IIISTKUT, A correspondotit, writing from Salis bury to the Charlotte Ofrs&'vcr 6ays that J. M. Brower, Senator elect from Surry, a pronounced Republican, has declared himself a candidate for Congress, against Col. Arinfteld, and that is presumed to end Capt. Crawford's candidacy. Capt, Crawford was out as a National. The Democrats of thnt district will now doubtless settle down to their work.' Maj. W. M. Bobbins, the present Repre sentative, at whoso defeat for the nomi nation much dissatisfaction was tclt, is exerting himself to quiet the discontent, and exhorting Democrats to a discharge of their duly. As it becomes unmistak ably. manifest that the National jneift is but alrick of tho Hopnblteari, par ty, all those who true De mocracy in Ibem will returuio tticir ah legianco to tho party of the peoplo, and renew their efforts for tho complete ov erthrow of Radicalism. It is in order JIXJW tor Col. Winston to show signs of trno Deuiocrasy, which his fnends claim that ho is iirbucd with. Will he do what he can to elect a Republican bv remaining ... in thHield? Those who know him best ■will not believe that ho will loud bis ef forts to promote Tourgee's chances; and yet the effect of hw remaining in the field can be nothing else, flis course will dc ternrine*wbethor h#personal friends are mistaken in the stutl of which the Col. is made. Now that the financial troubles and the liar J times of the country, arc traced , to legislation of the Reputyicau party in the interest of, aud nt the instance of, the bondholder, capitalist and gold-gam bler; and tho people have discovered tho real authors of their present hardships, and are demanding a change in the sys tem of legislation. Now that the con waled power that controlled the party ]>;» per* arc culling attouiion to 11 ( 1 * . WVJ * f that avo now cUiittinorod OBATITVBR VOK TDK BOND- Hei.»Bß, The'bondholder must not bo tnxtfl. Oh. no! He stepped in between the Gov ernment and destruction. by furnishing his money and taking Government bonds during the«#. Gratitude is his jutft meed and ftemptibii from taxation but a poor return for unselfish patriotism. So say the Repfblicau papers, and the Ite pnblican party has acted as if its chief mission was to give substantial evidence? of Its thankfulness to tho bond-holder. Poor, disinterested benefactor, on a large scale! Let as see hoy he has fured. Wheth er his sacrifices 011 the alter of bis bleed ing country have been properly remem bered. The bonds first cost him abont fifty cents oil the dollar, aud were to paid in greenbacks. We will take a thousand dollar bond. It cost its patri otically generous holder say five hundred dollars. lie has drawn interest on a thousand for, say fourteen year?, at, wo will say six per ccut., and say nothing about the gold he was paid, and is pre mium, aud we find he bn» received eight bundled and iorty dollars in interest, which lacks only eighty dollars of paying hiui his five hundred invested, with inter est at six/;er ccnf:; and yet he has the thousand dollar bond on the Govern ment. But this is not ail. In 1869 Cons gross out of tender regard tor the boud ' holder, declared that bis greonback bond ; should be paid in ooiu, which meant giv -1 ing him from twenty to thirty cents on 1 the dollar. Foariug that was not sale 1 enough, in 1870, still moved by a grate ful spirit, the Republican Congress patfe > ed the refunding aot, by which new 1 bonds, exprossly payable in coin, were issued for the old ooe payable in greenbacks. Then, in 1873. the Republican Congress ' still yearning to bestow favors upon the deserving bond-holder,' and fearing that silver money, such as the common herd use when they can get It, might be forced upon its especial pet, passed another act declaring that ailrer coin should no lon ger be money, aud thus (bo bond-bolder was secured in his gold—thus he was placed on a footing, so for as his money was concerned, with tho titled nobility of Europe. Nothing but the most precious would do for the bondholder, but green backs were good enough for the maimed soidior who had disabled bimsolf lor his country. The poor bond-holder had been thought of, had had some recogni tion. The Democratic party gained n place where its yoico could bo heard,aud mark the degree of ingratitude towards, the poof* self-sacrificing creditors of the nation. A b(ill was passed making sils ver money gofed ouough for tho bond holder, and it is evon proposed to pay him greenbacks—in the same money that pays the farmer for his produco, the la borer bis wages, the merchant for bis wares, and the soldier for his lost leg or arm. Can the poor bond-bolder be thought of without that softening of the heart produced by gengino sympathy? Let the people suffer, let distress sweep over tbe land, but take care ot the bond holder, has been And la the policy of tho 'great ltopublican party. flSnii, EBB—VOTING AOAINBT TUB SPBCIAL INTEREST OB THE 80-Ito.IIOIiDBR. ANDtiOIiOSfEC- ItLATOR EVERY TIME, Public attention ia just now more dir ected to the financial condition of the conntry, and the history of legislation upon that subjoct, than to any other po litical matter. Tho peoplo feel, that in the past, legislation upou this important subject has been so shaped as to produoe a rich harvest for the bondholder and gold ganiblor, at the expense of the pro" Jdueoi's of the country, and they believe it was so shaped designedly, and from uu worthy motives aud improper influences. So feeling and believing they turn with interest to tho record of their representatives, and especially those who arc candidates tor re-election. We pre sent that ot Goul. SCALES, eur Represen tative,and our candidate,with great satis* faction. Wecondonseirom The Observer, aud roter to the Congressional Record for proof ot sorrectucss. We giye the datos and tho purposes ot Uie bills and ! in-r * I •hiring that ftil knslation mioti the sab- E* »h t 1/11 r~f fv 1 1 f A policy ,i f resumption; and by placing in | ury all nccejsary power to that cu"d. Mar. 20th, 1876, he voted for a motion to suspend the rules and pass u measure to repeal tire act providing for specie payments. JUDO the 6th, 1876, lie voted lor a reso> kition to allow the committee on Bank ing and currency to report at any time. The purpose of this was to get the bill repealing the resumption act froiA the committee right away. Under the rules all bills of that character had to go to that committee, and it could only report at particular time?. ' July 10th, 1876, he voted lor a bill to .repeal that part ot the resumption act which authorized the Secretary of the Treasury to lake up legal tender notes withhold. Nov. 2nd, 1877, ho voted against a tiou to table a bill repealing the resump tion !q,w, and on the same day against an amendment unfriendly to the bill. The repeal passed a Democratic House, to bo killeil by a Republican Senate. April 29th,1878 a bill passed tho House forbidding any 'further itfliretnent* ol greenback*. SOALts voted lor It. Nov. sth, 187 V, the Bland silver bill wirs introduced, The Republicans in the interest ot the bond holder, and the gold j dealer, had demonetised silver; that is | declared by law that it was not a legal I tender for debts of over live dollars in ! amouut. Mr. Blaine's bill was to make |it money, as good us gold for any pui s | poso, to romouctize it as it is called, aud |to provide lor its free and unlimited ! coinage, the same as gold. SCALES voted I lor the bill; it passed the House, went to I the Senate, was amended so as to limit ! the coinage not tq exceed four millions a mouth, aud reqniring tbeja»t*of coinage to be paid, passed, sfydltho Houso cons curred in the amendments, as the very beat thing that could be done, while the House was hampered by a Republican Senate. So it was witb.measures of res lief for the people, passed by the House; they were either killed outright, or by amendments in the interest ot capitalists shorn of a part of tbeir beneficent pros visions. Janqjry 29th, 1878, ho Voted for a res olution directing that United States bonds should be paid, principal and interest in silver instead of gold, at the option of tte Government. A Republican Congress bad theretofore dcclarqjl they should bo paid, priucipal and interest in coin, and then it had demonetized silver and left no alternative but tor the Government to pay the bondholder, principal aud Inter est in gold. Jauuary 21st, 1-878, he voted tor a mo*, tion to suspend the rules and pass a bill to make greenbacks receivable for all Government dues. Nothing but gold will pay duties on imports amouutiug to millions upon millipus annually. March 251h, 1878, he voted for a sus pension of the rules, to introduce and pass a bill to suspend for five years any payment to tho sinking fund. This fuud had increased beyond the requirements of the law creating it, and the effect of the bill, could it havo been passed,w9uld have been to have extended relief to the tax-payers for five years, withouf violats ing any law, or injuring any interest. Juue 17th, 1878, lie voted for a bill to reduce the tax ou tobaeco from 24 to 16 cents. The Democratic committee on Ways aud Means had determined on a large reduction of the tax ou distilled spirits, and Mr. Garfield, Republican, in order to thwart this determination, introduced a resolution, that it was inexpedient to reduce this tax. SCALES voted against it. Beby. 4fh, 1878, a resolution was in troduced declaring that the wealth of the couutry should bear a lair proportion of the burdens of taxation, and instructing the committee on Ways aud Means tore port a bill imposing a tax upou incomes abovea reasonable minimum amount This was to make the bondholder, with his income, by way of interest on untax ed bonds, ot thousands a year, pay some portion of tho* taxes, and thus afford some relief to the people. Scales voted for it. In addition to this. GENL. SCALES, and the other Democratic members fropi this State, with the Democrats of the South and North West, with a few Western Republicans, formed greenback associs Ex-Senator Alcorn of Miss, declines to run as au ludependant candidate against Hunt and other Mississippi Republicans havo been to Washington trying to arrange for Federal officeholders to be detailed to go into the congressional dis trict and soe a fair count, and for the fundi. They failed in their «foS?SSd TUB WORK OF TUB JIIN TS. [Washington Post.] mro were 4NOTIIKK REASON. ' The great Ohio statesman, Senator Thurman, in his reccnt.Hainilton speech, gave the reasons why he favored the retire inent of tho national bank circulatlcn, aud ptittins out greenbacks,that js bills issued directly by the Government, In its place. We bavo from time to time given exs tracts Irbm this able speech,ono that is as vet unanswered aud will probably re main so, for the very good reason that it is unanswerable;' aud this week we presont the cxtruct below. It needs no communt. Senator Thurman makes everything ho talks about to plain that there is no difficulty in understanding bim, and no possibility ot mistaking bis meaning. He said: A third objection lo the national bank circulation is that it is a special privi lege that puts many millions of dollars annually into the pockets of the share holders and takes many millions annually out of tho pockots ot the people. The general rule is that a person pays interest on what lie owes; but in tho enso of H bank note, the ltile is reversed. The note Is h debt the hank, but | intend of pay Ml# interest upon it, the I hank is autlmrizcd lo loan it as money and take intci-:.4 upon the loan, ll tints enjuys a privilege that no one else cujoys- It draws interest upon its own indebt ed IIOSK and this privilege of the national banks brings them an annual income of probably twenty million of dollars. Their aggregate cifcnlalion is in round numbers, three hundred aud twonfy-lwQi millions. 1 think it may be assumed that three hundred these notes arc loaned at a i average ratk. of interest"of at least seven per ceut. II so, the annual interest thoy receive from the loan, not of money, not of capital but of their own.indebtedness, is $21,000,000. And this sum i? taken out ot tho annual product ot the couulry before that pro duct is divided between labor find capital The general rule is that the pioduct of human industry is ultimately divided between labor aud capital; but when a bank noto circulation is used, the banks first step iu and, by virtuo of their special privilege take a large slico in tho shape ot interest upon tboir own indpbts edncss. In the cose of our national banks this slice as we have seen amounts to $21,000,000 eveiy year. Now, if there, can be no sound paper currency but bank notes, then there is nothing loft for us but to bear this burden, or try to reduce tho amount of the exaction. But if the greenback is a good as the bank note and nobody denies that it is, why should it not bo substituted for the bank noto, and an end put to the exaction? And consider furtbery that for every greenback it has js&ed the Government has received value. That greenback has paid tor services rendered, or materials furnished, or it has discharged a portion of tho interest bearing public debt. There is thus a saving to tho Government or to the people, of an amount equal to tho interest upon the outstanding greenback circulation; for bad the greenback not been issued, the Government would have had to' raiso the money by loan or taxation to meet its expenditures- If it raised it by loan, it would, of coureo have to pay the inc torest upon tho loan. If it raised it by tax ation the taxpayers loso tho interest their money would have earned had they not been compellid to give it to the Govern meUK Tlie greenbacks now outstanding amount to $346,681,016. Computing intcirest on this sum at the lowest rate at which the Government can borrow money 4 per cent., and wo have an an nual saying to the people, resulting from tho uee of greenback, of $13,867,249. But II greenbacks wore substituted for tho $322,000,000 of national bank notes now outstanding,there would be a further sav» i ng by- Chouse of tho green back of $26,747,- 240. From this, however, deduct the taxes, ou their circulation paid by the banks, amounting to about $3,000,000 anuually, and the net saving would be gtbout $23,750,000. perhaps, in strictness, {hir deduction for taxes ought not to be made it is probable that the banks throw the burden, of the taxation upon their customers, who in turn shift it to tho shoulders ot those with whom they deal until, like all other taxation, it finally tails upon the great body of consumers', the people. nIIXNBSO'TA DEMOCRATS, The Democratic convention of Minne sota, met in St. Paul on tho sth of this mouth. The platform adopted as-* serts: That the retnsal of tho electoral com mission to investigate tho frauds iu Louisiana and Florida, was in violation of tho law under which it was organized and a gross insult to tho people of the Uuited States; but whilait decision was fiual, that decision ought not to precludo an authentic investigation and doe accouutabilfity of all who were guilty of being connected with frauds; that the present busiuesa distress of the country is due directly to the pernicious financial legislation of the Republioau party; that there should be no further contraction of ■& bonded debt. There should be a gradual substitution of the national treasury notes, for the interest of the people of the Uuited States. The warmest sympathy of the convention is extended the laboring class es, who have been thrown out of employ ment by the ruinous fiuaucial policy and unjust legislation of- the. Republican party, and that are jniate employ mom of an organized force and h »n^Si y pS^^(^ WC No violence should be contenanced to obtain redress for any alleged grievance, but it should jbe repressed at auy cost untill reJiuf can be secured by legal methods. The thj^ TELXj YOTJKf * . ji *4 * , Ream's Warehouse ■ ( Is the place to sell their' Tobacco, because this House cali show thd highest average. The dollars divided by the pounds sold, will tell the truth, and I am ready to compare with any who doubts the above. Below I giv*a list of sales made August 29th. 1878. J. A. MCCAULEY, A IV. A. UOBBITT* One lot, ' « 4t- 35 50 4 v 5 3 50 i.; i.. " •' J.i 00 " G-> 0O 40 00 1. L. BL ■VN'eHAKIi, j. m 00 B i i iij ll( . One lot, J-jOO ' 81 00 go 00 49 d 0 - ig 75 10 25 60 (K) jPWilk. 13 75 0100 dr* 38 50 % J.«. mm 47 50 One lot, 54 00 19 50 " 3150 f W, L.ALLEN. \ \ •' 56 00 Quo lot ' .62 00 I « 66 00 " - * 38 00 23 00 ALLEN & I'ITTARD, L " 34 00 Oftc lot, ' 27 00 \ v « 35 50 " 45 00 « 49 50 ALLEN & BARNETT, « f,4 00 °" e ,ot > 3600 « 1* 7k " 47 00 ALLEN & CLAYTON " 4100 Ouc lot, 39 00 " Ul 00 18 00 « 5(3 00 N. W. ALLEN, ~ « 12 00 One lot, * 48 00 15 5 Q 11ALL & DICKEY, '* 14 25 Ouo lot, GG 00 « 29 50 " 39 00 49 60 W. A. BLANCHARD, it 50 00 n0 lot > 46 00 ioooo -j® EGBERT CORN. " . 10 25 One lot, 46 00 \\ SOO H» . E. S.CASH, «»0.«1,I 20 00 60 00 15 25 MATtY JONES, JAMES A. CREWS, One lot 49 50' ° ,,e ,ol > 54 00 " 14 25 " W 7,) 26 00 :: 1 eg 60 00 « 44 00 It. B. SMITII, . * IQO OO One lot, 12 75 SIMFSON BROWNING. T, .x r 11 00 °» e l0t » 3600 HENRY HALL, a 15 00 One lot, 65 00 " 22 60 " 80 00 " 6100 J. A. McCaulcy, of Alamance 'County, sold 10,7381b5., and 47841b5., of this sold for $2169,54, averaging $45,35, and this amount is less than half of Mr. McCauley's crop; when the other half is heard from Mr. McCauley will certainly be elected, as all other Farmers will be, that carries good Tobacco to Ream's Ware house. James A. Crews, of Granville county, averaged for four grades $42,21 W. A. Bobbit, of same countjt, averaged for three grades $47,78, W. L Allen, of Person county, averaged for four grades "■554,26. Fanners, remember Ream sis still getting up, and right along on the average, and you all know that is what puts the green backs in your pockets. Fine wrappers and Fancy Smokers in good demand at Ream's Warehouse, at paying prices. Call and see Reams. Your Friend Truly, H. A. REAMS 7 Prop'r. i*»^,4"""' m j ■ ■ ■■■■■■■ ■' l •» i ■~ ■' "* Durham Tobacco Market, Graham Market. HJSPORTED BY CORRECTED WEEKLY BY _ . J.W. HARDEN. Q. A. Beans, Tuesday, September, 3 1878. or Apples, d, V 1b.... 3to 4 BEAKS' WARBnoUSB, Bonnet TfalM * {j"" 01 lr> Beeswax V lb j» Durham, N. C. Juhj 12 th 1878 B "'° U t* ,a. •; " hamp ny,
The Alamance Gleaner (Graham, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 10, 1878, edition 1
2
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