Newspapers / Lenoir News-Topic (Lenoir, N.C.) / Nov. 22, 1893, edition 1 / Page 1
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UJU , v. n h n : I VOLUME XIX. LENOIR, N. C, WEDNESDAY, NOVEMBER S. 1893. NUMBER 10. North Carolina to the Front. Advantage CONTRIBUTE TO Wonderful Mb M $o Sectioii so fa vored by nature. AND-f- None obtaining supplies at lower cost. The Leading Wholesale House of North Carolina claims the credit for not only carry ing the Largest, Handsomest and Moat Complete Stock of General Merchandise in the State, bnt what is of much more consequence, Leading all in low prices. In DryGoodsand Notions we are the acknowl edged leaders. Few Can Meet Our Prices; none Attempt to Beat Them. The Columbian year promises to be the most memorable in our his tory. It must necessarily be the greatest we have ever bad in buai neaa, as we are not only fixed to serve you better than any of our competi tors, but that is just what we intend to do. ; 4 . . !. : Yeari of experience, a thorough knowledge of the wants of our peo ple, and au intimate acquaintance ith the manufacturers of the East and South, places us on a footing to do all we claim. i Yon want to be at the bottom in the way of low pricesland at the top ith handsome and desirable goods. Oar Stock for the Fall Trade is com Plete and we are ready to serve yon. Yours trulyj i - Wallace Bros. , ? S. Tomlin, John S. UoBorie "bn P. Bowles and L. B. Bristol Wl11 represent ns on th road and Ylitu many of oar customers 8t&tesTUle, N. CV June 1, '03. TEE WAY OF TIE CR0IS. I thought that the course of the nil- a. tt : r w'aa bright as the summer and clad an thA m Thou showedst me the path: it was uar& ana uneven, All rugged with rock and all tan gled with thorn dreamed of Celestial rewards and renown, I grasped at the triumph that blesses the. brave; asked for the palm branch, the robe and the crown; I asked and Thou showedst me a cross and a grave. Subdued and instructed, at hkt. to My hopes and my wishes, n all, I resisrn Oh, give me a heart that can wait and be still; Nor know of a wish or a pleasure but thine. ' . Whtt Silgiioragi Is Richmond State. Strictly speaking, seieniorae is the chargu made by any national government for coining bullion on private account. It usually takes the form-of a certain percentage, fixed by ltw and deducted from the metal brought to the mint- In other words, when an individ ual brings to a government mint a quantity of one of the precious met als to be coined on his private ac count, he will receive a weight of coins equal to the weight of pure metal brought, less the percentage deducted as compensation to the' government for its services and in cidental expenses of coinage, and plus the weight of the alloy. At the present time the United States Government makes no charge, for coining gold, and does not re ceive silver, copper or nickel for coinage on private account. There fore the term seigniorage is not strictly applicable to any transac tion that takes place in connection with Federal mints. However, as used in current dis cussions of the silver question, the term is taken to mean the nominal profit made by the Government on its purchaser of silver and the coin age of the same. To illustrate: The present market price of silver is almost exactly seventy cents an ounce, while its "coinage value" is precisely $1 29 an ounce; so that on every ounce of silver bought- and coined there is an apparent profit of fifty-nine cents For reasons that have been more than once carefully explained, this profit is rather ap parent than real, seeing that the 'coinage value" is rather technical than actual. When it is proposed to coin the seigniorage silver now in the Treas ury the meaning of the proposition I . T . . a I is that ail tne suver ouuion purcnas ed under the act of July, 1890, com monly called the Sherman act, not already coined and over and above that amount that would, be needed to furnish standard dollars to match each dollar represented by Treasury notes issued under the law, shall be coined into standard dollars. IS WHITKET SEES IT. iti Lijtl Tindir Vilm lit Afficttd North Carolinian. . Many men in conversation, either in ignorance or regardless of the truth, are declaring that gold is now the only full legal tender money in the country. A few reckless news papers, by insinuation, are guilty of the same offense. Now this is un true and every one ought to know it. The repeal of the silver puroha sing clause of the Sherman law doe3 not affect, in any degree whatever, the debt-paying power of a single silver dollar in existence. Ever since the passage of the Bland-Allison act in 1878 silver has had, and still has, full legal tender value. We believe that most of those who are circulating this falsehoodknow better. We have $150,000,000 of le gal tender treasury notes, about $35,000,000 of legar tender green backs and some $460,000,000 of sil ver dollars which are full legal ten der. This money is received by the government and bv the people in full payment of all debts and the passage of the repeal bill does not, cannot affect it in any way whatev- in addition to this it is now almost certain that all the silver bullion in the Treasury will be coined. The New Orleans and San Fran cisco mints will turn out a million and sr half silver dollars at once and as soon as the other" mints can be set in operation, we shall have from tbreirto four million dollars a month added to the circulating medium. This hasn't the appearance of "strik ing down" silver very fast. Tis Per CipHt Clrcclatlan. rhOadslnhU ledger, The official Treasnry circulation capita cireiunMui .Ktnt. 11 ner capita out of the war oi ne reuemvu the per caP. rw , Tr62. STd YTtf point reached to the present day. is an since ing the Cfavtlind's Ei-Secntirj if tki lar y Vritis of Tiesdij's Voting. Hew Vork World. To the; World's request for an ex pression of opinion on the result of the recent election, ex Secretary of the Navy William C Whitney has replied as follows : To the Editor o! the World : Last Tuesday's voting was, in my my opinion, negative not positive. The result was a Democratic de feat, but not a Republican triumph The people had no intention of re scinding their emphatic and well considered repudiation of vicious Republican policies. They could not,, however, refrain from and can not be blamed for expressing their dissatisfaction with existing condi tions. So they voted against the party in power. It is true that the Democratic par ty was not responsible for the con ditions. But they existed neverthe less. The long period of financial depression had reached and destroy ed the prosperity of the country. Recuperation had begun, but was not yet accomplished. Capital was still timid. Com merce was prostrated. Trade wps at a standstill. Exports had decreased with imports Prices were low and taxes were high. Credits could not be obtained. Mills were closed. Money was scarce. Uncounted thou sands were idle. The National Treasury was bankrupt. Discontent filled the land. For a score of years the Republi can party had disregarded the im mutable laws of nature, and, having imposed artificial conditions of finance and taxatiorriipon the country-and increased enormously the burdens of taxation by the most lav ish Government expenditures, had brought the country to a point where there was bound to be a great reaction from long prosperity. It came in thenatural order of things in the interim after the re versal of policy had been accomplish ed. The party to suffer was necessarily the party in power. It had haa no opportunity to put in force a new policy and show its beneficial effect, but discontent from whatever cause is visited naturally uponthe party in power. In one respect only can the Dem ocratic party be held responsible for its own reverses. Repeal of the in iquitous financial law left by the Republican party upon the statute books was believed to be essential to relief, and more time was requir ed for the performance of this duty than the impatient country consid ered necessary. The delay was ex asperating and harmful and the en actment finally took place too late to counteract the effect upon the party. So much for the causes, so far as they were not local. The effect in my view should be, and I believe will be, beneficial in result. i After such a period of distrust as we have just experienced, stability in the conditions of trade is the first essential of a return to prosperity. Congress owes it to the country not only to reform the tariff, but to re form it at once in a conservative and careful spirit, ' but at once.' Re demption of all party pledges is nec essary. But quick redemption of this greatest, of party pledges is more than necessary, more than sound policy, more than wise partisanship- It is a patriotic duty. In accordance with the speed and wisdom with which this duty is dis charged will, in my view, be the fu ture Of the Democratic party. Wm. C. Whitney. Nov. 12. UcKinley Says K Was Tariff. Columbus, O., Dispatch. Gov. McEinley has received more than 1,000 despatches congratulat ing him on his victory at the polls on Tuesday. They came from every State and Territory in the Union, and from ex.President Harrison down to unheard of cit'zens. Gov McEinley haa had little to say about he causes ol victory for publication, but 'last, night he said to the Hon. William. Hahn, Superintendent of Insurance of Ohio : "The tariff, was the shibboleth on which we won the great victory, and in my opinion the tariff will be the issue on which we must win or lose in 1896. So far as I am concerned, it does not make any difference whether Congress tinkers with the new tariff bill this winter 6r not. The people of the North have spo ken in unmistakable terms at the ballot box on Tuesday. It would be well for Congress to heed the warning, but whether that august body does, or whether, joined to its idols, it rushes on to its own oyer throw, it matters not. The Repub lican part is a party of progress and is invincible. Nothing cun stay its onward march. v Defeated last Year because the new tariff law was mis represented, reason has once mere resumed its sway among the Ameri can people." A pushing man always gets ahead in ths word. So does a cabbage, m The Backbone Brokas Korth Carol'nlan. . The Democratic victory in Virgin ia on Tuesday shows that the people of the South look to that party for the reforms which are needed to give us an honest, a just and an economical government. The vic tory, won over the combined forces of the Populists and the Republi cans, is a great one. The campaign is entitled to be set down as one of the most memorable in the history of Virginia. Its result is signifi cant. It broke the backbone of the Third party in the South. The Populists made the fight un der the most favorable circumstanc es. They made such a campaign as has neyer before been known in the Old Dominion. They imported Peffer and Simpson, of Kansas, Pence, of Colorado, Butler, of this State, and dozens of other orators, who made campaign speeches for them. The Republicans, put out no ticket, but endorsed the Populist nominations and supported its nom inees As if in aid of the Populists, the Prohibitionists nominated can didates, mado a vigorous campaign and drew off 8 till another contingent of Democratic voters. To add to this already overwhelming advant age the election came in the midst of a panic and before the Democrat ic party could carry put its financial policy. Another disadvantage un der which the Democracy labored was the apathy of its own voters; great numbers of Democrats did not even go to the polls. There was nothing .left for the Populists to desire except the votes. To the party that oould not win under such conditions as these, success is forever impossible. And they did not win. Never did an ticipations soar higher and fall flat ter than did those of the Virginia Populists. Many fears are entertained in this State that under such disadvantages astho3ethe Democrats, would be beaten. " Vv e, however, never shared these gloomy forebodings, but haye steadily "kept the faith" and. be tlieved that as the people returned to their sober second thought they would certainly return to their alle giance to the grand old Democratic party. Tho Virginians have shown a devotion to the grand old Demo cratic party. The Virginians have shown a devotion to principle of the highest order and an exalted patriot ism to stand and win under such circumstances. But conscious of the truth of their principles they have stood firm and their faith has been rewarded. The result in Virginia is prophet ic. The people of the South have in thunder tones manifested their disaproval and overlasting condem nation of Thir 1 partyism and its leaders, and have again and again recorded by a large majority their confidence m the purity of the Dem ocratic party. The result of this election means that the people of the South despise and repudiate for ever such men as Butler and his myrmidons, and look to the Dem ocratic party as their only hope. The people nave spoken for Democ racy and. the Democracy now in pow er can and must speak for the relief of the people and the amelioration of their condition. A Lissob ia Tariff. An interesting revelation has juit been made through the Shuttle, an English textile journal According to that journal, a large carpet man ufacturer in the United States has been shipping a considerable quan tity of Moquette and Axminister carpets to London, and selling them in competition with the "free trade," "pauper-labor" carpets of England. The New York Times in com menting on this fact says: "Of course the exporting manu facturers have seon that this venture must direct attention to the Ameri can tariff on carpets. The McEin ley dnty on Moquettes and Axmin sters is 6o cents per square yard plus 40 per cent, of the value. That is to say, the duty on a square yard of imported carpet valued all is $1, or 100 per cent. If the value per yard be 75 cents, the duty is 90 cents- If American carpets of this kind can be sold in England by the manufacturers in open competition with English carpets, the average citizen .will ask why so high a duty is required toprotect the American manufacturers against the sale of the same English carpets here at home, or even why there should be any duty whatever beyond a rate that is sufficient to compensate for the absurd duty on the wool which is the manufacturer's raw material. ."The Londoner gets an American carpet for $1 a yard for which the New Yorker, who lives within a a stone's throw of the factory, has to pay $2." That's what the McKin ley lw is doing for the American consumer, Many people suffer for yean from troublesome and repulsive tores, boils and eruptions, without ever testing the marvelous , curative properties of Ayer's Sarsapariila. The experiment is, certainly, worth trying. Be sure yoq get Ayer's Sax parilla and no other, CCIIIXS SILfEl OOLLiBS. Uiats Easani Virk .Oaea Usra bj Official Ordtrs. Washington Star. ' The Secretary of the Treasnry has taken prompt and important action on the silver question by the issue of the orders to the superintendent of the mints at New Orleans and San Francisco to manufacture the ingots and blanksso as to be prepar-J ed at snort notice" to resume tne coinage, suspended some time ago,, of standard silver dollars, in case it should be decided to do so. This action is taken under authority of section 3 of the Sherman law of 1890, which is as follows: "That the Secretary of the Treas ury shall each month coin 2,000,000 ounces of .the silver bullion purchas ed under the provisions of - this act into standard silver dollars until the 1st day of July, 1891, and after time he shall coin of the silver bul lion purchased under the provisions of this act as much as may be nec essary to provide for the redemption of the treasury notes herein provid ed for, and any gain or seigniorage arising from such coinage shall be accounted for and paid into the Treasury." The coinage of standard silver dollars is resumed, it is explained, for the purpose of utilizing the idle seigniorage about which so much has been said of late. ; The expectation is that about 1,500,000 standard silver dollars can be coined at once, which - will give the United States treasury a seigniorage of about $500,000. The seigniorage bears the proportion of one-third to the amount of silver coined. It is the intention of the Treasury Department, as the other mints become clear of gold coinage, to have them also coin silver and thus increase the coinage from three and one-half to four millions per month. This seigniorage is so much clear gain to the United States treas nry, and if it could all be placed to the credit of the government at once it would increase the balance by $35,000,000. The amount of sil ver subject to coinage is about 140, 000,000 ounces. The administration has for sev eral days past been considering the question as to whether it could use althe seigniorage at once, thus making Available $53,000,000, but so ftfas can be learned no conclu sion has yet been reached. No doubts exists as to the use of the seigniorage as the standard silver dollars are coined. Attorney Gen eral Olney and Secretary Carlisle have both been searching the stat utes respecting the matter, and the subject was further considered at yesterday's cabinet meeting. The Party's Duty Plainly Mark ed Out. Bspul IwonpIIsisd, It Cbaxlotte Ofaeerrer. We remarked during the past sum mer that no party coming into pow er ever had the path of duty more' plvinly marked out to it than did the Democratic party at its restor ation a year ago. There is no room to hesitate about what it should do; no occasion for it to worry about, what policies to pursue. Its plat form is its chart. It was clear-cut and distinct. It was presented to the people and accepted by them. Its acceptance was a protest against Republican policies and doctrines. The people embraced not only the candidates but the doctrines an nounced at Chicago. The only thing to do now is to give them what they voted for. It it is not good for them to have it the respon sibility is theirs It will be good for them and they are eutitled to what they have been premised. One of the platform pledges has been performed, and the only honest thing is to go ahead and . perform the others. Nice Words for an ex-President to Utter, CbarloUe Observer. These words were nsed by General Benjamin Harrison, of Salt River, in reference to the recent election: "Everything went Republican that is, everything in the free part of the country." This is nice lan guage for a man who has once been President of the United States to use. It is evidently a mean, parti san cut at Virginia and Kentucky, Southern States which chose to go Democratic and thereby incur the displeasure oi Mr. Harrison. Elec tions in Virginia and Kentucky are just as free as in Ohio and Massa chusetts, and Mr. Harrison knows it. He merely chose to pervert the truth for partisan purposes. The smallest "cat-boil" is . large enough to show that the blood needs purifying- a warning which, if un healed, csay result, not inc more boils, bnt. in something very much worse. Avert the danger in time by the use of AyeV Sarsapariila. Cured others, will cure yon. London's conitant fog may caused by the continuous reign. be Only the Scars Remain. "Among the many testimonials which I see la regard to certain medicines perform ing cures, cleansing the blood, etc.," writes ILEJfBY ncDsojf, of the James Smith. Woolen Machinery Co., Philadelphia, Pa "none impress me more than my own case. Twenty years ago, at the age of IS years, I had swellings come on my legs, which broke and became running cores. Oar family physlciancould do me no good, and It was feared that the hones would be affected. At last, my good old mother urged mo to try Ayer's Sarsapariila. I took three bottles, the sores healed, and I have not been troubled since. Only the scars remain, and tne memory of the past, to remind me of the good Ayer's SarftapartHa has done me. I now weigh two hundred and twenty pounds, a;: 1 am In the best of health. I hare been on the road for the past twelve years, have noticed Ayer's Sarsapariila advertised in all parts of the United States, and always take pleas ure la telling what good it did for me." For the cure of all diseases originating In Impure blood, the best remedy is AYER'S Sarsapariila Prepared by Dr. J. C. Ayer & Co., Lowell, Mtu. Cures others, will cure you rt r-7I mm 1 1 Nil. s HI III DATENPOET FEMAlE COLLEGE ijenoir, N. O Fall term begins Sept. 11th. Send for Catalogue. John D. Mimck. A. M.. Pres. Charlotte Observer. The forthcoming message of Pres ident Cleveland will be awaited wit! almost as much interest as the one of the 7th of August. The country knows in advance what he will saj about the tariff, and the chief in terest will attach-to his deliverance on the financial question The Dem ocratic party has a right to expect of Mr. Cleveland that he pronounce in favor of a further coinage of sil ver. It was proper to have stopped the purchase of silver bullion for storage; rght on every account to haye done so; but the repeal of the purchase clause of the Sherman act is but a clearing of the decks. Time and experience demonstrated that ic was a failure. It being out of the way, Congress can legislate with more freedom and intelligence, and it will legislate, of course, in the direction of an addition to our silver money and on the lines laid down by the Chicago platform. We think the President wUl advise such legis lation. Whether he does, or not Congress should enact it. It cannot afford, representing a bi-metallic party, not to provide for the coinage of the largest amount of silver pos sible for the government to sustain. It can easily sustain $200,000,000 more, or a total of $800,000,000, and by strengthening its gold reserve it can maintain 1900,000,000. Con gress has done a great deal for the preservation of the integrity of the silver now in circulation by the pas sage of the repeal act, and notice that it intends to add a given amount to the coinage, whether $200, 000, 000 or $400,000,000, will not shake confidence in the silver dollar. The fatal objections co the Sherman act were (1) that it stored silver, and (2) that it was indefinite as to the time of operation. The business world could see that the United States could not go on indefinitely bujing silver on the terms which it pre scribed and issning against this sil ver a note which wasjm mediately 'used to draw the gold from the Treasury; and hence this provision for silver purchases was repealed none too soon. But the majority of the Democrats who favored this re peal do not propose to be put in the position of abandoning silyer,though none of them, perhaps, favor its free coinage at the present ratio or un der existing conditions. A modified coinage measure would be agreeable to the spirit of the Chicago platform until there could be a literal com pliance with its terras, which favors free coinage under an international agreement or such safeguards of legislation as will protect the party. Hence the Faulkner amendment to the recent repeal bill would not, as an independent measure, have been unagreeable to repeal Democrats, though few of them had the patience to entertain it as an amendment, they recognizing that a higher issue than silver, gold or anything else had come to trial in the question as to whether or not a mojority still has a right to rule in this country. This question having been finally decided in the affirmative, and the minor matter, viz. : the repeal of a very vicious piece of legislation, having been settled at the same time, the bi metallic repeal Democ racy is now anxious to go as far as any safe and intelligent anti-repeal Democrat will say is safe to go in fa vor of the enlargement of the silver circulation, though upon this point they are not willing to accept the judgment of any silver monomwtal ist, which is another term for the 16 to 1 free coinage advocates. It was hardly worth while to have said these things while the contest over the repeal bill was on, for then no one who favored it could get credit for sincerity when he declared himself a bi-metal list or expressed a desire for an enlarged use of silver. Now the atmosphere is clearer, and perhaps more confidence will be re posed m the good faith of those who yTake the Chicago & Alton R. ?.; AV HlUttU VUVI4 IlljfVgldUVVl W VU7 A1U ciple of bi-metalli8m and re declare their attachment to "gold and silver as the money of the constitution." In this view we express the hope that the President in his message will ontline a new measure concern ing silver which will be consistent with his own professions of loyalty to bi-metalism and consistent with the oft-repeated declarations of the party, and ' that Congress will pass it or a kindred measure and put our badly disorganized financial system on a permanent basis Two Lifts Smi Mrs. Phoebe Thomas, of Junction City, 111,, was told by her doctors she had Consumption and that there was no hope for her, but two bottles Dr. King's New" Discovery com pletely cured her, and she says it saved her life. Mrs. Thomas. .Eg gers, 139 Floriday St , San Franois co, suffered from a dreadful cold, approaching Consumption, tried without result everything else then bought one bottle Dr. King's New Discovery and in j two weeks was cured. He is naturally thankful. It is such results, of which these are samples, that prove the wonderful efficacy of this medicine in Coughs and Colds. Fre trial bottles at W. W. Scott's Drug Store. . Kegular iw 50c and $1.00. Bargains In Furniture. - -0 - Having given up our lease on the Lenoir Furniture Factory the stock on hand consisting of Bed Boom Suits, Bed steads, Bureaus, Tables, etc. will be sold at Reduced Prices until the 1st of July, at which time we will vacate the premises. ' The furniture which is first class of its kind must be sold. Harper & Son. I A. N E II L A N D The Emigrants Friend Going West or Northwest Parties contemplating going West will save time and money going via the Alton route. It is the only line running solid vestibuled trains be tween St. Louis and Kansas City makes direct connection for all pointsjn Kansas, Nebeaska, Color i ado, California, Oregon, Washing ton end Reclining chair cars and Tourist Sleepers free of extra charge. Fyr low rates and full information maps and diseution pap hie ts of the West apply to J. Charlton, G. P. A. Chicago, 111-, B. A. NETTi.-iru. Fran. Pass Agent, Asheville, N. C. New Barber Shop, North Main Street. If yea want s good ssvs or hslr eutcam to m and giro me a trial. AU work dons in Us best style. New ehalrSjriiarp rasors, sofrJiAnds ; I ean always be found at my Uaop No, 6, Jons 1 Boos Roy, I solicit yosjr patronage, j v If !:1 i ; - i XH08. W. SBXlti J rhrr
Lenoir News-Topic (Lenoir, N.C.)
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Nov. 22, 1893, edition 1
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