Watchman.
mm
VOL XVH.---THXED
! 4 -
SALISBURY, H. ft, JANUARY 21, 1886.
NO. 14
.' . ' . 'dLrz I "
4 ma am w
1-1
J
Mr Beck's Silver Sb eech ConqludecL
Br n
The last
report of the lijeasurer,
35, shows
that the receipts at tne
tew York custom House for tle fiscal
paid as follows:
United Statesjegal ten-
der notes $36.101. ceo. ortJ9 percent.
United Statesgoldeoln H.ri.ooo-, or 1 1 per cent.
United States gold .er-
VUlteate8 43,T;,ooo.orP4.1 percent.
United States all erjeer-
! tlflcaus w... 446C,ooo, or S5.f percent.
UnlledStatcssllvcrjcoln 15M.COQ, or o. per cent..
Total..... i.2oooriai)per cent.
It is fair to ! assume that the pay- ior to have our silver stricken down I
ments at the otWer custom houses weref have no idea that $300,(KK),000 of the
made in substantially trie same cnarac-, $346,000,000 of greenbacks, charged in
ter of money. It will beobserved that the report as outstanding could be re
more of the customs dues were paid in turned if they were called intodaV; All
. i ' . ! i ! . LlA . .... v ;. .... v - .
silver ana silver eerxutc.nes tisui wac
naid in cold and cold certificates ; all
f it is by law a special fund Which can
mot legally be paid or covered into the
Treasury till the initerest on the public
debt is paid out of it, and the bonds for
the sinking fund- are purchased or
redeemed.
These, together, required about 108,
000,000, yet not a dollar of silver has
been so applied ; it is- jpaid into the
yj Treasury and held there, and a clamor
is .raised that it cannot be again got
iflto circulation. If the law-Wfis oley-
ed and the bondholders required to take
the same proportion of silver dollars
that the Government receives through
its custom houses, the bondholders
would have no difficulty in
fdi.inr
o
all into circulation; and when it lis
made their interest to maintain and
support the silver they own pre would
hear no more about its being dishonest
money. The Secretary says (page 14
of his report) that the balance in the
Treasury has been increased from the
4th of March. 1885, to the list of No-
r,nLr 1 SS:' SRA ,;3 702 27 j vrt t hfrr
has been no reduction of the interest- j The Director of the Mint, on page
bearing debt (and that is the only debt j 99 0f his report, speaking of these pa
that is a burden on tax payers) since . p0r sibstitutea, says: "As these certifi
November, 1884, certainly not since cates represent coin in the Treasury,
March, 1885.1 The monthly reports which coin can onlv be used in their
show $194,000,000 ot 3 per cent, bonds :
then outstanding and precisely
the
same amount in November.
How is the surplus silver coin to get
out of the Treasury if the Secretary re
f uses to pay it out for interest and re
fuses to cafl in the bonds ijdiich are
now payable?
- There is no more effectual or perni
cious method of contracting the cur
rency than4 by collecting hy taxation
a large sum in excess of the needs of
an economically administered Govern
ment and locking -it up in the Treasury.
Every dollar needlessly taken from the
tax payer wrongfully deprives him of
that much capital which he needs and
labored to obtain, land when it is locked
up the circulating medium which all
the people want is wrongfully withheld
from them. The thief who steals and
squanders an unneeded surplus locked
up in the Treasury vaults would inflict
less injury on the country and its bus
iness if the money he stole wjas put in
circulation, than a Secretary who holds
and hides in vaults currency which the
people want, and1 refuses to use it to
pay the debts, especially the interest
bearing debts, which the men, who own1
this money owe. It is to raise a clam
or about a surplus, but it wifl be more
difficult to explain to the people why
. such vast amounts of the money they
have been so heavily taxed to furnish
is lying idle n thp overloaded Treasury
vaults, and they deprived of its use,
while interest is running against them
on bonds which can be and ought to be
paid. The idle money when paid out
for interest on bands would at once be
released and restored to circulation.
Speaking of-cireulation, we are con
stantly told that there is now a great
abbudance of it outstanding; indeed
we are officially' advised that the legal
tender notes and the silver Certificates
should all be withdrawn I presume
because of. the superabundance of cur
rency. Let us look for a few minutes
at the effect of these recommendations,,
if carried: out, and see how far these
certificates are now used as currency.
It was the avowed purpose of the ad
vocates of both, gold and silver certifi
cates, and I Was'pne of them, to furnish
a safe, convenient paper currency, every
dollar of which could be used just as
the coin paid for- it could, be, and which
would be secured by the deposit of an
ecpial amount of coin in the Treasury.
Iso better security could be asked or
'given. It was not thought desirable to
have the coin of either metal exposed
to the risk of loss or reduction of val
ue by the abrasion which necessarily!
accompanies its active use. The trans-i
portation of both was known to be dan-f
'.-gerous and expensive; all jkhe expense!
and risk, as well as the deterioration of
the coin, was avoided by the use of the
paper substitutes, "while the United
States were sure to be anijply eorapen4
sated for all the' expenses incurred for
vaults, custodiais, and everything else!
We I mean by we all the people i
received a coin dollar fpr every papet
dollar issued. We only pay but the
coin on the paper brought back to ouj
agents. All of ; it that is lost by firel
flood, or the thousand accidents that all
transitory things are subject to, is oirr
gain. We had experience in operation
of that sort, and knew that they wer
profitable. Forty-five millions of doB
Iars of fractional currency was issued
We afterwards called it jjn for cancel
lation, and we now know that $15,00(j,
000, or one-third of it, has been lost ojr
destroyed We made $15,000,000 out
of that issue, as we received full con
sideration for the whole amount issued.
We only redeem such national bank
notes as are returned; and the amount
I now known to be lost is so great that
11. ia : it i il -' i '. S . a
tlie Comptroller is devising all sorts of
ingenious plans in his report to get it
away from us for the -benefit of the
hunks. None of them lost tiny of it.
The people who borrowed it or worked
for it, after the banks got value receiv
ed for it, were the sufferers: yet the
Comptroller waft fe it all for the banks.
I expect they will get it. They have
as much right to it as to Save their in
terest and principal paid m gold alone
lost S clear Droht to the Iroverument.
It is a sumcient answer to all -the clam
or about expense and yaults that the
Coin is preservjed from loss and from
abrasion, and that our! grain from the
loss of outstanJingy f- it is kept in de
nominations inj which it will circulate,
as it ought to fee, will amply compere
sate the United States far all the ex
penses of its safe keeping.
iiie ooject we aii.nau in view oy
keeping in actual use paper substitute
for srold coin to the extent of the coin
j deposited has been grossly perverted,
j The coin is locked Up, and four-fifths
r0f the certificates issued are of such
'; high denominations that they are of no
sort of use as currencv.
The
Treasurer's report, page 23,
shows that on the 30th of June, 1885,
! the outstanding gold certificatesamount-
ed to $137,700,860, of which all but
$33,360,000 were in denominations of
( 8500 and upward, more than 855,000
000 of, them being for $10,000 each.
: It is obvious that the people get no
j benefit in the form or currency when
redemption, they really form a part of
the active coin circulation of the coun
try. The Director, perhaps, did not
! know that $55,000,000 of them were
I for $10,000 eaeh, as it would be absurd
to speak of such notes or certificates as
forming pare of our active circulation.
The Treasurer's report (page 24)
shows that on June 20, 1885, silver
certificates amounting ta 130.001,046
were outstanding, and that $103,758,
091 were in ten and twenty dollar
bills, in about equal proportions. None
were higher than $1000; so that the
only, real currency furnished to the
people in the shape of certificates is
that based on the deposit of silver coin.
Yet the dollars so deposited are held up
as useless incumbrances, performing no
function of value, and all our officials
ioin'in the crusade against them
and
the certificates that represent them, and
urge Congress to withdraw the one and
jstop the coinage cf the other. I do not
f 1 V 1 1 l' lit
propose to cto eitner unless oetter
reasons are given why ifr should be
idone than any I have yet seen or heard.
I would, however, amend the laws so
that no certificate-should be of a high
er denomination than $500, and not
more than 2iTper Cent- o the amounts
outstanding at any time should be 01
denominations higher than 50. The
legal tender motes, too, are attacked. It
seems as though every form of curren
cy which costs nothing and enriches
nobody, is condemned.
It is assumed that the Government
has no right to aseiits own credit or to
furnish any part of the currency the
people need. Legal tender notes are
denounced as a ioreed loan, tis tag-
babies, shinpiasters, indeed every op
probrious epithet has been hurled
against them bv those who insist that
they must be vested with the sole right
to is?sue currency to loan at a profit to
themselves, rtud to dictate through their
organization how much or how little it
is most profltabie to them to keep in
circulation. But the people and their
representatives have so tar sustained
the greenbacks, and while they have
always been repudiated to the extent
that they could not be legally paid at
the custom houses for duties 011 im
:pots, and that is the law now, over
47.000,000 of them were received for
duties last year in New York alone by.
executive -orders in plain violation of
law. The majority of the Senate re
fused last year to make them receiva
ble for "duties, ahd yet we permit $47,
000,000 Of them to be so received. I
have a bill now before the finance
Committee making it legal to receive
them for customs dues, as J believe
they ought td.be; yet I insist that no
executive officer ought to be allowed to
do anything in violation of law, or to
be placed in a position m which he
feels authorized or compelled to disre
gard it. 1
Congress by the act of May 31, 1878v
(see Statutes at Large, volume 20, page
87), made an effort to retain what was
then left of the legal tender notes; ?nd
to preserve them in such shape thai;
they would 4)e currency ki the hands of
the people. We provided, in substance,
that whenever legal tender notes are
received at the Treasury from any
source they shall not be retired, but
shall be reissued and paid out again and
kept in circulation, and that new notes,
of the same denomination Of those re
turned because too much mutilated for
Use shall bej issued in their stead. ; It is
obvious that Congress did not intend to
allow any increase; of the denomifaation
of the legal tender notes above what
existed when that act was passed, vefc
the table on page 20 of the Treasurers
report, showa that bills of the denomi-
nation of $500 have increased in the
last year nearly $10,000,000, while
those of smaller denominations, have
been proportionally decreased.
There can be but one purpose in this
attack all along the line on everything
except gold and national bank notesr
and that is to transfer to the holders of
our bonds absolute power over the cur
rency, which means oyer the business of
the country.
! The report of the Comptroller of the
Currency develops that purpose, per
haps, more plainly than the others.
After insisting that Congress should
repeal the tax on Circulation, give up
the profit made on the lost ,bank notes
or put it into a safety fund with othet
things for the benefit of the banks, he
adds, on page 18: K
Such legislation would have the effect of
maintaining bank note circulation, and
prevengJta being superseded by Govern
ment issues, which nn jauthonty as high as
Alexander Hamilton his said "are of a na
ture so liable to abnsej and it may eren be
affirmed so certain of1 being abused, that
1 the wisdom "?f the Government will be
shown in never trusting itself with-the use
of so seducing and dangerous an experi
ment." I assume that it is too clear to admit
of debate, no matter- what Mr. Hamil
ton or anybody else said, that a circu
lating note, in any form, properly se-.
cured, is as good when issued by the
Government as a like note would be
when issued by a corporation created
by the Government and secured by, a
Government bond ; and hardly any
body but the Comptroller or a bank at
torney would venture to assert that
the Secretary of the Treasury is not
likely to be honest and careful of the
public interest in maintaining and
keeping the necessary amount of cir
culation afloat for legitimate business
purposes as- bank presidents Would be,
who are under no obligation to consult
the public welfare, but, as the private
interests of their stockholders demand,
may contract or expand their issues as
the One course or the other best sub
serves their private ends regardless al
together of the public weal; indeed
they ;je apt to be enriched when they
can most surely oppress the masses.
iet,. in the tace ot his claim that all
other circulation is. unsafe, the Comp
troller shows that the decrease in na
tional5 bank circulation in the last three
years amounts to over 848,000,000. and
says that it would have decreased 25,
000,000 more if the Secretary of the
rri 11 1 til
ireasury had not come to their rescue
by refusing to use the money at his
command in the purchase of the 3 per
cent, bonds on which their circulation
is based: in other words, the people
have lost over 82,000,000 of interest,
and the bankers have made 6,000,000
on interest by the operation. The
Comptroller shows very clearly why
the bondholders are so anxious to get
clear of the silver dollar; they fear that
the-premium on their bonds will fall
if they are paid in whole or in part in
silver. But he stated the whole case
so clearly that I will read, on page 15
of his report:
It will bcseen that the banks held on
Nov. 1, 1S84, $153,604,44)0, and on Nov. 1,
1S85, $13S,90,6ou, ot 3 per cents under the
act of July 12,"1882, payable at the pleas
ure of the Government. The Secretary of
the Treasury, during the year ending Nov.
1, 1883, paid $105,684,150, and during the
year endim: Nov. 11 1884, $105,970,450 of
the public debt. In the lutter yea. 3 per
cents onlv were called. No bonds were
called for the year catling Nov. 1, 185.
Reasoning upon the theory that the public
debt would, during tine yOr ending Nov
1, 1885, continue to be reduced by the
Davment of 3 per cent, bonds, and that
this reduction wojuld occasion the rein
vestment of trust and other funds invest
ed in threes, and cause a greater demand
for and consequent increase in the price
of 4 per cent, bonds to a point at which it
would be more profitable tor the national
banks to sell them, the Comptrollei" esti
mated 111 Ins last annual report to Con
gress. that unless legislation should be
secured enaabling the banks to issue cur
reney at a fair profit, circulation would
be reduced at the rate of at least $40,000,
000 per annum. It is believed that this esti
mate would have been substantially cor
rect had the Government continued
during lsso to call and pay tne 3 per
cent, bonds as rapidly as during the two
nrevious vears.
Tho reduction of circulation of national
banks during the year ending Nov. 1
1885. for reasons other than the call of
bonds by which it was secured, was great
er than anticipated. The causes which
have lead to this result are small profit
remaining to national banks on circula
tion after paving the tax of 1 per cent
per annum imposed by the Government
reduction in the rates of interest through
out the country, occasioned by the abund
ance of monev in the financial centers
and. doubtless, uneasiness among certain
of the bankers of the country as to the
nuteome of the increase of silver in the
Ttaatstirv. such increase indicating that
pon&ibly ilw inieftet on the public debt
and even some, portion of the principal
iijJi he naid in standard' eil rev dollars
ana mat jroveriiiuein wuus uugu mtic
bv become depreciated in lorcign mar
L-ts which, would undoubtedly affect
their price in this country. The credit
and standing of this country is deservedly
high, and it is not believed, that the peo
ple desire either the principal or interest
onHe bonded debt of this country to be
paid in anything but gold coiu or its
equivalent.
I think the Comptroller makes it
clear that the country cannot afford, to
rely for its circulation on national
bank otes. He asserts that the bank
ers will surrender their circulation and
sell the bonds upon which it is based,
regardless altogether of the public
needs, whenever they can make more
money by tlling the bonds than they
npn Wv loaning the circulation. We
all know that to be true
' Can Congress afford to vest absolute
power over the contraction- and expan
sion of 4be circulating medium which
regulates all our transactions exclusive
ly in the hands of men wno gamble
with it for private g4n without any
sort of public responsibility?
I think nojt; yet, if we retire the
greenbacks and jlie silver certificates, as
our officials advise us to do, we will
have no currency but national bank
notes left, uhkh they can expand or
contract at pleasure. Nobody pretends
that in the reduction of these notes
from $324,000,000 in November, 1882,
to $276,000,000 in November, 1885,
the public interests or needs Were for a
moment considered.
I desire to state with great - distinct
ness that I am not making war on bond
holders or natianl banks or bankers. I
voted to renew theircharters, to repeal
all taxes on their capital and de
posits, and with measures necessary to
add to their suef ulness, either by in
creasing their circulation to par with
the bonds deposited, or. if it can be done
a: i ij it l' .. -i 1
wiui justice 10 ineir competitors m bu
siness, reduce or repeal the tax on their
circulation. But 1 would require them
to take tbe same coins, both gold and
silver, that alLothercreditore of the Gov
ernment receive. I shall always oppose
the grant or recognition of any super
ior, rights or privileges in them or inthe
obligations they hold over those of oth
er citizens. 1 would divorce them from
politics, and deprive them of power to
control or influence legislation by con
tracting or expanding or by threatening
o intertere wath our currency, as was
done when thev obtained President
Hayes1 veto on a memorable occasion.
I would require them to obey the law
and receive the coin which we take at
the custom-house and set apart as a
special fund for their security and pay
ment. When we say by law, as we have
done, that "noj national banking asso
ciation shall be a member of any clear
ing-house in which such (silver) cer
tificates shall not be receivable in the
settlement of clearing-house balance? ."
I would forfeit the charter of any bank
that dared to disobey the law, as I
would fine ahd imprison anv officer of
any ef them who would certify checks
wiieij the runds were not actually m
the bank at the time.
In short, no set of men should be al
owed to exercisejn-ivileges prohibited
oy law, nor have rights given to them
in regard to the character and qualitv
of the coin in which their debts shall
be paid which are denied to all other
qually meritorious creditors; and no
set of men should ever have power to
reguiate or control as t ieir private in
terests may be affected, the currency or
the business ot the people, it that
xnYer is yielded or conceded to them,
ill iii 1 1 -
witn icgui-tenuer notes ana silver cer
tificates with drawnand gold paid to
them, and to them alone, for their in
terest and bonds, Congress would be
powerless xo resist any demands our
l 1 i 1
bondholders and baukers might make.
I know their power and appreciate the
adroitness with which they can have
their claims presented. Even the Presi
dent in his message has been induced
to say that up to the present time only
about $50,000,000 of the silver dollars
we have coined have found their way
into circulation. He modified that state
ment by sho'-ving that a large amount
of silver certificates were outstanding.
But the press of the country has tak
en up the first statement, leaving out
all the qualifications, and parade it be
fore the country as conclusive evidence
that too much silver has already been
coined, and that all of it is an incum
brance except about $50,000,000. They
utterly ignore the fact which the of
ficial reports show that at the close of
the last fiscal year, June 30, lbbo, out
of a total coinage of $203,000,000, $140,
000,000 in round numbers was in ac
tive circulation in the form of silver
certificates, in addition to the coin in
the hands of the people, of which cer-
tificates of $44,000,01X1 was paid to the
Government for customs dues during
the last fiscal iyear at the port of New
York alone lupre than was paid in
uold and golds certificates' combined.
Why is not the coin represented by
these certificates as much in active cir
culation as if it was passed from hand
to hand as often as the certificates are?
I ask, is it fair to complain of the sil
ver held in the Treasury as being ex
pensive and useless, under such circum
stances, and yet not utter one word of
complaint in regard to over$l 37,000,000
of gold coin locked up at the same time
and in the same way, represented by
the same sort of certificates, most of
them in a far Jess useful form? If our
officials would unlock the Treasury
vaults and pay our interest-bearing debt
with the money they are complaining
of being overwhelmed with they would
be doing their duty more satisfactorily
than by the course they, are now pursu
ing- A
The President says:
A special effort lms been made by the
Secretary f the Treasury to increase the
amount of our silver coin in circulation
t uianon.
Let him make one more
pay out tue v,wv,wv ur 9,1,
he received for customs dues, and which
." '- -j. il- - orr fuvi fri Girt iTu nnk
he has no use for in pavment of inter
use ior m pavmeiii oi imer-
- j .
est and in the redemption of the bonds
now reueetnapie, iinu Le uruuiiuj ex
penses of the Government will keep the
1 1 . J il j
vaults reasonably clear ot all, not re-
presented byjcertificates or bills , which
the people take, a n-ht by law to de-
maim on making u OI
tiuhhc creditor other than the bond-
I 1.aa uc a .nmnlfiinMl Ln nnv-
ment is ma-W to him insilvef of silver
certificates. All other creditors are en-
titled to the same consideration as the j
holders of our bonds. W e as a taxpay- j debtor classes. So believing, I am op
ing people are not interested in keeping posed to it.
our bonds 24 per cent, above par when f
we must soon buy them with surplus j
revenues
I may observe here that silver certi- ;
ncates are now and nave always been a
popular currency
1 he Treasurer in his last report, page
24, says: i
The issue of silver certificates by Treas
ury officers in the South and West for
gold coin deposited with the assistant
treasurer at New York, under depart- i
mental circular of September 18, 1880,
was discontinued in January last The :
amount w hich had been issued in that
manner to the date named was $80,730,-
500.
The Treasnry order referred to reads
tnus:
"Tteasury Department
it, )
ICE,
$,'80. )
Secretary's Office
"Washington D. C, Sept.18
Until further notice the United States
assistant treasurer in New York will pay
out at his counter standard silver dollars
or silver certificates in sums of $10, or
any multiples thereof, in exchange for :
like amounts of gold coin or cold bullion
deposited with him.
Upon the receipt by the Treasurer of
the United States in this city of an origi- j
nal certificate of deposit issued by the
uimeu puues assistant treasurer at new
York, stating that there has been deposit
ed with him gold bullion in the sum of
$10, or any multiple thereof, payment of
a like amount in standard silver dollars or
silver certificates at the counter of any
United States assistant treasurer designat
ed by the depositor will be ordered.
JoiiN Sherman, Secretary.1
The Treasurer of the United States
in his report to Congess dated Novem
ber 1, 1880, says:
Subsequently this, restriction was re
moved for a time and over 80,000,000
of silver certificates were taken princi
pally by the people of the South and
West in exchange for gold coin. The
privilege was finally withdrawn in
January, 1885. I ask in view of these
facts how it can properly be charged
that the people will not use the silver
coinage, that they are noaromg goia,
that the depreciated paper will soon
impair the purchasing power of the
poor man's wages, and that we are on
the verge of a financial crisis unless
we bring all our transactions at once
to a gold basis?
It must not be forgotten that all the
gold coin deposited for silver certificates
became at once the property of the
United States; it was not held in the
Treasury for their redemption. An
equal amount of silver coin took its
place for that purpose at once. Men
who owned gold all over the South and
West, in Louisville, Indianapolis, Nash
ville, and other places, as well as those
cities named in the report, sent their
coin at their own expense to the assis
tant treasurer in New York in order to
have silver certificates delivered to
them for use as currency at home.
Yet, during all that time, the bullion
value of gold in London was at least
15 per cent, more than silver, and the
country was being periodically alarm
ed, and Congress advised by Our offi
cials that gold was leaving the country,
that silver was a degraded standard of
value, and that its coinage must be
stopped or its weight increased or ruin
would speedily be upon us localise of
its depreciation-in the London market.
The facts I have stated overthrow all
the speculations of the theorists. Our
business men gladly exchanged their
sold coin for silver certificates and did
not ask any better security for the pa
per thev-tOok than the silver dollar
deposited in tne Treasury. So far from
hoarding gold because of its greater
bullion vale in a foreign market, they
sent it to a distant depository to get
the paper we are advised is dishonest
monev because it is depreciated 15 or
20 per cent, below gold in London
have thus imperfectly outlined the
reasons whv I cannot sustain at this
time a policy which seeks to withdraw
' either our legal tender notes, the silver
certificates, or stop the silver coinage.
and I see no propriety in increasing the
Weight of our silver coin beyond the
standard value fixed by law iu July,
1870, under and by which all our Out
standing bonded indebtedness is regula
ted. I am convinced that we can no
longer look with safety to the national
banks to furnish the country with
stable currencv.
a
1 insist that every creditor of the
Government is by law entitled to be
paid in the same coin, and that our
Treasury officials should be required to
nav silver as well as gold when receiv
ed for custom dues to our bondholders
as thev do to all others who have lega
demands upon the Treasury; that done
there will be no need, at least for yaers
to come, to strike down silver in any
form. The country is now rally in
from a long period of depression. Al
railroad securities recently fell 50 per
cent, on the average in eighteen months
Wheat, cotton, cattle, hogs, all farm
products, are even now so
depressed
that thev leave no profit to the produ-
, cer even afr jjg pays the lowest wages
lOr WlllCU lie CcUl uuuiiu muni in men
. nr0(ncfjon
P - n
Foreitni nations are clos
ing their porta against our leading ex-
, -,n onA ',n, nil nW.l. i.
r, . mnr, 7 n r J
UiC III UUi vrx w..
wav
i Our carrvmtr trade is gone and is m
the hands of our foreign competitors.
We need to use all our resources of
both ld and silver, arid their paper
reprentativeSi to enable us to rJain
0ur lost prestige and to develop our re-
" - & .
sources in tne most economical way.
Contraction, ordejtruction of any pnrt;
of our m?ans is. in my judgment, fatal
to our laboring aad especially to oiar
Mr. President, I will only add that I
have no interest in the silver question
otner than my conviction m regard to
the best interest of the country
I nev-
er owned a dollar s worth of
stock, di
rectly or indirectly, in any silver qe
other mine. 3?he people I represent
here are not specially interested in it.
We are in the central portion o this
great continent, and our prosperity de
pends on the prosperity of every sec
tion. If hereafter I ascertain that I
am wrong, and that the public good
requires me to change my views, I
hope I will have the courage to do so,
and state the reasons therefor as frank
ly as I have given the reasons for my
present convictions.
The demand for silver certificates under
the circular of the Department dated 8ep- ;
j tember 18, 1880, authorizing their exchange
j for gold and bullion, has been quite exten- !
si ye at New Orleans, Saint Louis, Chicargo, 1
Cincinatti, and there were paid out at these !
points during the month ofOctober $3,485,
, 000 in silver certificates for an equal amoui.t
I of gold coin deposited in the sub-treasury j
in new iorK.
And in December, 1881 the Secre
tary of the Treasury in his report says:
The Department has issued silver certifi
cates at the several sub-treasury offices,
upon a deposit of gold coin in like amolint
with the assistant treasurer at New Yorl',
and through this means certificates have
been issued for nearly all the silver held by
the Treasury. These certificates amount to
about $06,000,000 and are now outstanding.
That the condition of things doubt
less rendered the following order ne-
cessary, as all or nearly all the silver
coin in the Treasury was represented
by outstanding siver certificates: ,
Treasury Department,
Secretary's Office.
Washington, D. C, Nov. 1 1881.
Until further notice the exchange of sil
ver certificates for gold coin deposited at
the office of the United States assistant
treasurei at New York will be snspetded "and
Department circular No. 75, of September
18, 1880, is herebj modified accordingly.
H. F. French,
Acting Secretary.
My wile has been a great sufferer from
Catarrh. Several physicians and various
patent medicines were resorted to, yet j the
disease continued unabated, nothing! ap-
-
peanng to make any impression upon it.
Ier constitution finally became implicutid,
the poison being in her blood.
I secured a bottle of B. B. B. and placed
ier upon its use, anu to our surpnse tne
improvement begari at once, and her recov
ery was rapid and complete. No other
preparation ever produced 6uch a worider-
ul change, and for all forms of blood dis
ease I cheerfully recommend B. B. B. as a
superior Blood Purifier.
R. P. DODGE,
Yardinastcr Georyia Railroad,
Atlanta, Ga.
From the Athens (Ga.) Banner-Watchman.
Uncle Jick Saul ter says : Fifty years
ago I had a running ulcer on mj leg which
mfnsfid to heal under anv treatment. In
1853 I went to California and remained
eighteen months, and in 1873 I visited Hot
Springs, Ark., remaining three months, but
was not cured. AmputatioQjwas discussed,
hut I concluded to make one more effort.
I commenced taking the B. B. B. aboiit six
weeks ago. The Fifty-year old sore on
my leg is healing rapidly, and yesterday I
walked about fifteen miles fishing and
hunting without any pain, and before
using the B. B. B, I could not walk exceed
ing half a mile. I sleep soundly at night
for the first time in many years. To think
that six- hottlcs have done me more xood
than Hot Springs, eighteen months in Cal
ifornia, besides an immense amount of med
icines and eight or ten first class physicians,
will convince any man on earth that it is a
wonderful blood medicine. It has also
cured ine of catarrh.
There is a lav livins here. Mrs.- who
-
has had catarrh for many, many years. I
have known she had it for fifteen or twen
ty years, and my fathr oncd doctored her,'
re s-he was then a tenant on our place. For
the fast two and a half years she has been
bedridden, the catarrh or cancer (the nu
merous physicians have neverf decided
which) daring her two years and a half in
the bed. had eaten all the roof of her
mouth out. She was so offensive no one
could stay in the room; she could not eat
anything, but could swallow soijjp if it was
strained. She gave up to die, and came so
near perishing all thought she would die.
Her son bought the B. B B. and she used
several bottles, which effected an entire
cure. She is now well and hearty. I have
not exaggerated one particle.
LUCY STRONG.
MY
WE
GREAT
SUEF
MODI!
HARDWARE.
I -
WHEN YOU WAHTfj
HARDWARE
AT LOW FIGURES
Call on the undersigned at NO. 2, Granite
Row. D. A. ATtWELL
Agsnt for tba s CardwellThresher,"
Salisbury, N. C, June 8th tf.;
7fl
Mil Mineral Si1ies AoademL
P AUIVl ERS Vl LLE,(st;iu!y Co. H. O.
C. H. MAKflN, Principal,'
Graduate of Wake Fdrest College, and also at
tae l" nivo ralty of Virginia.,1
iy fcmoK, $5 to fiSjper session of 3 months.
The only school in this section that teachesi
we university or a. nuanods. Vigorous ex
tensive, thorough. fhe cheapest school in the
fl 9 Khun tliaun -,,l.l n,i .1 i
xaugnt. uooa uoam only $4 per month.
I
an lyj Aturess, u a. martin, ftib.
SEND YOUR WOOL
len Hills
4 - V
TIIIS NEW FACTORV
is no in operation, and facilities for man
ufacturing Woolen Goods such as have nev
er before been offered to our people, are?
within the reach oif the entire Wool grow
ing community. - -
We manufacture JEANS, CASSIMERS,
flannels; mnseys, blankets,
YARNS, ROLLS, fcc.
Soliciting a liberal patronage pf our peo
ple, we are respectfully,
Salisbury Woolek Mills.
"Office at old Express Office,1
May 28th, 1885J 82tf
T.HOPKINS
(IS NOW AT THB
Corner of Kerr & Lee Streets,
with a full line; of DRY GOODS sod
GROCERIES. Also keeps a First Class
BOARDING HOUJSE. Call and see ttinu
28:pl v.
f IP you wAnt to
FILL YOUR GAME BAG,
AND MAKE
BIG
USE
QTON
AND
SHOT GUNS.
All the Latest Improvements.
FOR DESCRIPTIVE CIRCULARS,
ADDRESS
i i . . . r.. o 5
Lamoerson, rurman&oQ.,;
SOLE AGENTS FOR
E.Remihgton&SonsI
Sporting Arm and Ammunition,
281 & 283 S roadway, "(
NEW YORK.
WESTERN OFFICE,
D. H. LAMBERSON & CO.,
73 State Street, Chicago, BL
ARMORY; - - - ILIGfN, N. Y.
SHOVELS, j
SCOOPS, SPADES.
ADE IN THE BEST lAMta, BY SKILLED WOWKl
REKEMBER THAT OUP. GOODS ARE ALWAYS RELIAILtc
One Piece of Solid Steel. 1
NO HOLES OR RIVETS TO WEAKEN THE BLADE.
SEND FOR CIRCULAR."
REMINGTON AGRICULTURAL CO
1
I I.I ON, N. Y.
Mew York Office. 118 Chamber Buret.
SOMETHING NEW!
t3UMP CHIMNEYS
that
Will not break by heat, lor sale at
ENNI88.
DIAMOND DYES - Ail
colors ro
ENNISB 5
t
wish at
DON'T FORGET to call
for Seeds ef
ENNISS',
all kinds at
TO TBI LADIES r
Call and
see the Flower Pots at
ENNISS'.
ADMINISTRATRIX'S KOTICS.
Having qualified as Administratrix upon
the es-ate of W. A. McCorkle, dee'd, i
hereby notify all persons having -claims
against said estate to present them to me.
for payment oaor before the 17th day of
December, 1886, or this notice will be
plead in bar of their recovery.
Jennie A. McCorkle. Adm'x. "
Thco. F. Kluttz, Att'y. Dec. 17, 1885. j81
It is not worth while to think too
much about being gocd. Doing the
best we know, minute by. minute, hoar
by hour, we insensibly grow to good
ne?s as fruit grows ic r pene.- jfj
VO THE
nmm
mm
REMINGTON
1
4
T2S
i V
tf
r
-1 ;
-
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-
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I