Newspapers / Asheville Citizen (Asheville, N.C.) / Aug. 8, 1893, edition 1 / Page 1
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Asheville Daily Citi zen. VOLUME IX.-NO. 82. ASHEVIXiXiE, N. C, TUESDAY EVENING, AUGUST 8, 1893. PKIOE 5 CENTS. -5- FRESH CllKAMEItY BUTTER 30 CENTS PER POUND KROGER. Hre You Satisfied WITH THE You've Been Using? l'crhaps it lucks frafcrance and flav or, the two chief properties which comprise excellence. Try C 11 ASK St SiNBOKN'S Roasted Java or Blend You will admit its superiority to all others. It li used by oil the restau rants in the World's Pair grounds. It lias merit. Try it. NORTH COURT SQUARE. HO MARCUE NEW INVOICE EMBROIDERIES. NEW INVOICE RIBBONS. 5- i j , pi REAL. ESTATE. W. B. OWYN. W. W. WBST Gwyn & West, (Successors to Walter D. Gwyn.) ESTABLISHED 1881 REFER TO BANK OF ASHEVILLE. Real Estate. Loans Securely Placed at 8 Per Cent. Notary Public, Commissioner of Deeds. FIRE INSURANCE. SOUTH BAST COURT SQUARB. CORTLAND BROS., Real Cbttate Broker And lUTCNtiucat Accnt NOTARY PVBUC Loans securely placed at 8 per cent. Offlsea 26 ft 96 Patton Avenue. Second ;floor, JOHN CHILD, REAL ESTATE AND LOAN BROKER. Furnished and Unfurnished Houses. OFF1CB ROOMS. Loom securely placed at Bight per cent. PRETTY AND ATTRACTIVE LINE OF LUNCH BASKETS Just Suitableor Picnic Occasions. (OnlSate of W. A. LATIMER NBWJBOUTU BAKING POWDBlSiTo be found at LaTIIIBI'S, 16 COURT SQUARE, HEAR CITY HALL NEW INVOICE LACES. All Summer Dress Goods at Gicully Kc tluccd 1'riccs to close out. New Summer Neckwear lor Ladies and Gentlemen. Still tbc best line of uudcr wear for ladies, men and eliildrcn. ISOIS II YltCHIC .-. 37 Hontti Malu Street. GREAT REDUCTION !. Hammocks, -Bf Croquet Sets, Tennis Goods Now is the Time to Buy ! liaminuikH wo have btcn sell nc; at $ I ,'-C icllinu now for S cents; 51.CO for $1.10; $3 for $2. Crjquct sets from fl.GO to $1 IS; 9 J 60 to 2. Twenty Per Cent, leas on Tennis Goods and Leather belts. jL. blomoerg. The Model Cigar Store, 17 PATTON AVE. AMERICAN BAKERY We are prepared to supply the citizens of Asheville with Freh Dread, llolls, Pies and Cakes of every description. If you want nice wedding or party cakes, give us uu or der and if you are not pleased in quality and artis tic work wo will refund you your money. We will add daily different lines of cake. Will bake any kind of cakes to order. Telephone 174. 8 N. COURT SQUARE New Goods. New Goods. AT THE CRYSTAL PALACE We have lust opened u beautiful line of Limoges China cf our own Importation in Dinner Sets. I'lutes, Cups aud Saucers, A U. CoflC.cs, Chocolate Gets. Olive Pin aad Comb Trays, Bon Boa Boxes, Salad LHshcs etc. We wish to specially mention the his torical plates, Tlicy are one of the fads in China Our line of Domestic and Imported Tutnbleis comprises over OO varieties. We bare a I'uc c fetched and cut that wc are offering Bargains In. They come one dozen in a case and make suitable presents. Until the 1st of Augutt wt will give a handsome Jap anese cup and saucer with every purchase amounting to $3 and over. Vis't our sterc. Wc can safily suy that we have the finest and largest stock in Kortta Carolina und prices Ihe lowest. THAD. W. THRASH X GO. - grains of gold. this beautiful cereal product maiic from yellow corn is equally attractive to the eye and pulate, the intelligent housekeeper will doubtless find man; ways to prepare this delicious article for tbc tabic. powell 6c snider 5 Si IS rtt es'O to ? OS ri W, CO O) O a So M no E3 00 CD 0) cS a o OD CS 03 . a a x o ts a o o s . a r rri oca, ca o . o C3 W OrT. r -, oof I r H op OS w a as o 3 oo b; boa w O O 6HCD O CS 8 W Peon Mutual - Penn Mutual Penn IVIutual Penn IVLutual CIO THIS IS TUB BEST S CliT STKA1G1IT CIGAR EVER OFPEKUU TO THIS PUBLIC. 1 he name and labels on the boxes are fur nished by the Old and RcliaMc Penn Mutual Life Insurance Company of Philadelphia, which to a guarantee of the goods. (HADB I If TWO SHAPES) For sale oaly by Ueinitgli k. Reagan. A BLACK EYE! THE PRESIDENT GIVES THAT TO SILYER. SUGGESTS THE IMMEDIATE REPEAL OF THE SHERMAN ACT. NO OTJIEK l'ART OF THE FIN AN CIAL PLANK KEFFJtltEI) TO. Nothing Ottered To Keep The Two Metals At a fiirlty. Washington, Aur. 8. The Ilotitc was called to order promptly at noon and prayer was offered by the newly elected chaplain, the Kcv. Dr. lluddaway. The journal, which was a" ralhcr lonR one was then read and approved, and the House took a recess until 1 p. m. After the recess, Mr. Springer, Demo crat, Illinois, chairman of the committee appointed to wait upon the President reported that the President would com municate in writing a message to Con gress. Instantly Mr. Trudcn, one of the President's secretaries, made his bow and sent the important document to the clerk's desk, where it was read by Clerk Kerr. Tbc senate. Rev. Mr. Milburn, chaplain of the Sen ate opened the proceedings with prayer. 1 he journal of yesterday was read by the new Secretary Cox. The credentials of Geo. C. Perkins, the new senator from California, were received and the oath ol office administered to him. The Sen ate then took a recess until 12 p. in., when Mr. Harris of the committee to wait upon the President, reported that the committee . had been informed that the President would communicate with ConKrccs immediately. Thereupon Mr. Pruden, one of the President's secre taries, appeared and delivered the mes sage which was immcdatcly read to the Senate by Mr. Johnson, its chief clerk : The Message. To the Congress of the United States: The existence of an alarming and ex traordinary business situation, involving the welfare and prosperity of all our people, has constrained me to call to gcthcr in extra session the people's rep rescntatives in Congress, to the end that through a wise and patriotic exercise of the legislative duty with which they solely arc charged, present events may be mitigated and the danger threatenine the future may be averted. Our unfortunate financial plight is not the result of untoward events, nor of conditions related to our natural re sources, nor is it traceable to any of the afflictions which frequently check na tional growth and prosperity. With pleat ious crops, with abundant promise of remunerative production lor manufact urers, with unusual invitation to safe investment and with satisfactory assur ance to business enterprise, suddenly financial distrust and fear have sprung up on every side. Numerous moneyed institutions have suspended because abundant assets were not immediately available to meet the demands of fright ened depositors; surviving corporations and individuals are content to keep in hand the money they are usually anxious to loin, and those engaged in legitimate business are surprised to find that the securities they offer for loans, though heretofore satisfactory, arc no longer accepted. Values supposed to be fixed are fast becoming conjectural, and loss and failure have invaded every branch of business. Tlie Alleged Cause. I believe these things arc principally chargeable to Congressional legislation touching the purchase and coinage of silver by the general government. This legislation is embodied in a statute passed on the 14-th day of July, 1800, which was the culmination of much agi tation on the subject involved, and which may be considered asa truce, after a long struggle between the advocates of free coinage and those iutending to be more conservative. Undoubtedly the monthly purchases by the government of 4,500,000 ounces of silver enforced under that statute were regarded by those interested in silver pro duction as a certain guaranty of its in crease in price. The result, however, has been entirely diflercnt, lor, immediately following a spasmodic and slight rise, the price of silver began to fall after the passage of the act, and has since reached the lowest point ever known. This dis appointing result has led to renewed and persistent effort in the direction of free silver coinage. Meanwhile, not only arc the evil effects of the operation of the ptcsent law con stantly accumulating, but the result to which its execution must inevitably lead is becoming palpable to all who give the least heed to financial subjects. This law provides that in payment for the 4,500,000 ounces of silver bullion which the Secretary of the Treasury is com manded to purchase monthly there shall be issued treasury notes redeemable on demand in gold or silver coin at the discretion ot the Secretary of the Treas ury, and that said notes may be reissued. Parity Btlwetn the Two Metals. It is, however, declared in the act to be the established policy of the United States to maintain the two metals on a parity with each other noon the present legal ratio or such ratio as may be pro vided by law. This declaration so con trols the action ol the Secretary of the Treasury as to prevent his excrcisinir the discretion, nominally vested in him, if Dy said action the parity between gold and silver may be disturbed. Manifestly a refusal by the secretary to pay these treasury notes in gold, if demanded, would necessarily result in their dis credit and depreciation, as obligations payable only in silver, and would de stroy the parity between the two metals by establishing a discrimination in favor of gold. Up to the 15ih day of July 18U3, these notes had been issued in uavmcnt ot sil ver bullion purchases to the amount of more than $147,000,000. While all but a very small quantity of this bullion remains uncoined and without usefulness in the treasury many of the notes triven in its purchase have been paid in gold. This is illustrated by the statement that between the 1st day of May lH'J'J and the 15th day ofjuly 1803, the notes of this kind issued in payment for silver bullion. amounted to a little more than $54,000, 000, and that during the same period about $40,000,000 were paid by the treasury in gold lor redemption ot such notes. Tbe nold Reserve. The policy necessarily adopted of pay ing these notes in gold has not spared the gold reserve of $100,000,000 long ago set aside by the government for the redemption of other notes, for this fund has already been subjected to the pay- mentofnew obligations amounting to about $150,000,000 on account of silver purchases, and has, as a consequence, for the first time since its creation, been encroached upon. We have thus made the depletion of our gold reserve and nave tempted other and more appreciat ive nations to ndd it to their stock, That the opportunity we have offered has not been neglected is shown by the targe amounts ot gold winch nave been recently drawn from our treasury and exported to increase the financial strength of foreign nations. The excess ol exports ol gold over its imports for the year ending June 30, 1893 amounted to more than $87,500,000. Between the first day ofjuly, 1800, and the 15th ol July, 18UJ, the gold com and bullion in our treasury decreased more than $132,000,000, while during the same period the silver coin and bullion in the treasury increased more than $147, 000,000. Leads to a Silver Musis. Unless government bonds are to be constantly issued and sold to replenish our exhausted gold, only to be again ex hausted, it is apparent that the oper ation of the silver purchase law now in force lends in the direction of the entire substitution of silver for the gold in tbe government treasury, and that this must ue followed by tl'C payment ot all govern ment obligations in depreciated silver. At this stage gold and silver must part company and the government must tail in its established policy to maintain the two metals on a parity with each other. Given oyer to the exclusive use of a currency greatly depreciated accord ing to the standard of the commercial world wc could no longer claim a place among nations ol the first class, nor could our government claim a perform ance of its obligations, so far as such an obligation has been imposed upon it to provide for the use of the people the best and safest money. If, as many ol its friends claim, silver ought to occupy a larger place in our currency and the currency of the world through general international co-operation and agreement, it is ebvious that tbe United States will not be in a position to gain a hearing in favor of such an ar raogemcnt so long as we are willing to continue our attempt to accomplish the result single handed. All Trouble Charged to Silver. The knowledge in business circles among our own people that our govern ment cannot make its fiat equivalent to intrinsic value, nor keep inferior money on a parity with superior money by its own independent efforts, has resulted in such a lack of confidence at home in the stability of currency values that capital reluses its aid to new enterprises, while millions are actually withdrawn from the channels of trade and commerce to become idle and unproductive in the bands of timid owners. Foreign invest ors, equally alert, not only decline to purchase American securities, but make haste to sacrifice those which thev already have. It does not meet the situation to say that the apprehension in regard to the future of our finances is groundless, and that there is no reason for lack of confi dence in the purposes or power of the government in the premises. The very existence ot this apprehen sion and lack of confidence, how ever caused, is a menace which ought not for a moment to be disre garded. Possibly, if the undertaking wc have in band were the maintenance ol a specific known quantity of silver at a parity witn gold, our ability to do bo might be estimated and gauged, and perhaps, in view" of our unparalleled growth and resources, might be favora bly passed upon, but when our avowed endeavor is to maintain such parity in regard to an amount of silver increasing at the rate of $o0,000,000 yearly with no fixed termination to such increase, it can hardly be said that u problem is prercnted whose solution is tree lrom doubt. Tiulstus. The people of the Uuitcd States are entitled to a sound and stable currency and to money recognized as such on every exchange and in every market of the world. Their government has no right to injure them by financial experi ments opposed to the policy and prac tice of other civilized States. Nor is it justified, in permitting an exaggerated and unreasonable reliance on our na tional strength and nbility, to jeopardize the soundness of the people's money. This matter rises above the plnne of party politics; it concerns every business and calling and enters every household in the land. There is one important aspect of the subject which especially should never be overlooked at times like the present, when the evils of unsound finance threaten as: The speculator may antici pate a harvest gathered from the misfor tuncsnf others; thecapitalist may protect himself by hoarding, or may even find Srof-.t in tbe fluctations of values, ut the wage earner, the first to be injured by a depreciated currency, and tbe lost to receive the benefit of its cor rection, is practically helpless. He relies for work upon tbe ventures of confident and contented capital. This failing him, bis condition it without alleviation, for be can neitbey prey on the misfortunes of others nor hoard his labor. One of tbe greatest statesmen our country has known, speaking more than 50 years ago when the adjustment of the cur rency had caused commercial distress, said: "The very man of all others who has the deepest interest in a sound cur rency and who suffers most bv mischiev ous legislation in money matters is the man who earns his daily bread by his uauy ton. ' ConicreMH ITriced lo be Oulck. These words are as pertinent now as on the day they were uttered and ought to impressively remind us that a failure in the discharge of our duty at this time must especially injure those of our coun trymen who labor, and who because of their number and condition are entitled to tbe most watchful can: of their gov crnment. It is of the utmost importance that such relief as Congress can afford in the existing situation be offered at once. The maxim, "he gives twice who gives quickly" is directly applicable. It may be true that the embarrassments from which the business of the country is suf fering arise as much from evils appre hended as from those actually existing. We may hope, too, that calm counsels win prevail, and that neither the caoi- talists nor the wage earners will give way to unreasoning patience and sacri fice their projwrty or their interest under tue influence of exaggerated fears. Never, theless, every duv's delav in removing one of the plain and principal causes of me present state ot things enlarges the mischief already done, aud increases the responsibility of the government lor its existence. TUe Blierman Act. Whatever else the people have a ri;ht to expect from Congress they may cer tainly demand that legislation condemn ed by the ordeal of thrccycars disastrous expense shall be removed from the statue books bs soon as their representatives' Kin ii-KiLiuiiiiciy ucai Willi it. It was my purpose to summon Con gress in special session early in the com ing September that we might enter piomptly upon the work of tariff reform, which the true interests of the country clearly demand; which so large a major ity of the people, as shown by their suf ferings, desire and expect, and to the ac complishment of which every effort of the present administration is pledged. But while tariff reform has lost nothing of its immediate and permanent importance and must in the near future engage the attention of Congress, it has seemed to me that the financial condition of the country should at once, and before all other objects, be considered by your honorable body. 1 earnestly recommend the prompt re peal of the provisions of the Act oassed July 14, 1890, authorizing the pur chase of silver bullion, and that other legislative action may put beyond all doubt or mistake the intention and the ability of the government to fulfill its pe cuniary obligations in moncyunivcrsally recognized by all civilized countries. Grover Cleveland. Executive Mansion April 7, 1803. The President's message was listened to with intense interest by members of the house and at the conclusion of its reading was greeted with general ap plause not confined to auv section of the chamber. Not often has an executive document been listened to in tbc Senate with such profound attention and interest as this message was. Bvcrv Senator was seated and appeared to be on a nervous strain not to lose a word. The mes sage was ordered printed immediately and referred to the finance committee. various petitions for and against the repeal of the Sherman act were presented and referred to tbe same committee. Senator Hill introduced a bill to repeal certain sections of the Sherman art, rc- lerred to the finance committee. WH.L LEAVE ASHEV1LI.U. V. 91. C. A, Secretary Kerieusou to Return to Brldiceporl, Count. On Thursday next J. 11. Ferguson, who has been general secretary of the Y. M. C. A. since February last, will sever bis connection with the work in Asheville and return to his home in llridgcport. Connecticut. The immediate cause of Mr. Fcrgusou's departure from Asheville is the serious illness of a sister in Connecticut. Mr. Ferguson engaged to remain in Asheville only four months wheu be came, but during his stay here he has made so many friends, both in bis asso ciation work and sociully, that his de parture occasions genuine regret. Mr. Fcrcusun mav return to Asheville in September lor a season of rest, men tally ami physically, preparatory to taking up a course of study with a view to fitting himself for the ministry, which he purposes making his life work. The best wishes of manv friends in Asheville will accompany him. RECMON POSTPONED, Veterans to csatnet at Wavnes vllle October n. The rcutiiou of Confederate veterans that was to occur at Wayncsville this month has been postponed, as will be seen from the following: Editor Tiik Citizen: I am directed hv Col. Jno. C. Mclilroy, Commander of the Confederate Veterans of Western North Carolina to announce the post ponement ol the great reunion at Wavres villc from August 23 to October 11, next. All county Confederate Veterans' asso ciations will please take due notice of this postponement and govern them selves accordingly. U'. W. Stringfield, Asst. Adjt. Gen. C. V. A. of W. N. C. Zimmerman and Sauicer collide. Chicago, Aug. 8. In the bicycle con test at the ball park P. Vanlieckman won the mile novice race in 2:34-3-5: Zim merman, tbe half mile championship, in 44-3-5 seconds, and A. J. Brown, the half mile handicap in 1:04-. In the two mile championship race Sanger. Zimmerman and two others crashed together and the whole party was thrown. They were not seriously injured. Tbe Report Denied. Berlin, Aug. C The Italian embassy here officially denies the truth of the re port that a treaty has been concluded between Italy and Russia. In Spite ot Ibe SHenuan Lsw. Washington, Aug. 8. Gold in the treasury is daily increasing. It stands today $102,291,395, or $2,291,395 above the reserve. Another cotton Mill closed. Burlington, Vt., Aug. 8. The Wi- nooskic woolen, merinn ami r-i I m.lla in mis city nas snut do DRUGS, MEDICINES AND SODA WATER. A Stiance combination, but when you have tcstcj the new drinks at our fountain which, always delicious themselves, contain extracts of mcdlciuul properties, the most popular of these are: COCA COLA, AROMATIC EGG PHOSPHATE, HIRE'S ROOT BEER. Besides these, e ur Ice Cream Soda, Pineap ple Snow, Peaches aud Cream arc more popular than ever. In drugs our stock is as complete as it is possible to be. We also carry a fine line of druggist sun dries. Strangers will find our stock in this line far better than is expected of a town this size. We have just received a very pretty uew novelty in the Columbian Pen Knife, alumi num handles, and three Eood steel blades. We only have a few and will sell for $1 each. Very suitable as a World's Fair Souvenir. Don't leave Asheville without calling at our store. Open evenings till 11 o'clock. RAYSOK & SMITH, PRESCRIPTION DRUGGISTS, NO. 31 PATTON AVENUE. P. S- "5 lloxcs Tanglefoot Sticky Ply Paper left at 4-3 cents a box. Call early for tills Bargain. Special Underwear Sale ! Twenty Per Cent. Discount. F. E. Mitchell, riii. tt .i i i xjiu xiaueruasner, 28 Pattern avenue. Presentation Baskets FANCY FRUIT -A. - Specialty -A.T PECK'S 14 PATTON AVENUE, MOUNT Situated at Tub Foot amoa OFMlTCHIILL, HlSHUT Mountain Bast or tbb Rockibs I MIXCHEIJL Huntino rot BBAB, Wolves and Wild cats, Fisuino voa Tbout 1 nOTEL Board. 20 per month; S7.SO per Week; Sl.BO per bay. A ddress : A- A- TYSON, JtutldSm Black Mountain. M. C. ivir rrxzi MODEL STEAM IJU11DRY Tats Tsav weax work. CHURCH STREET, TELEPKQXI TO - '-Jfc
Asheville Citizen (Asheville, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Aug. 8, 1893, edition 1
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