Indianapolis Journal, Indianapolis, Marion County, 4 January 1896 — Page 2

THE INDIANAPOLIS JOURNAL, SATURDAY, JANUARY 4, 1896.

enue. or If the' President and Mr. Carlisle bad refused to" expend appropriations not mandatory In form, but permissive, eo as to confine expenditures within receipts, they would have no difficulty with the re erve. This would have been a stalwart act In harmony with the President's character and plainly within his power. H knew as well as any one that pince the " clo?e of the civil war to the date of his Inauguration the expenditures of the government had been less than its receipts." Mr. Sherman read from a table showing ?hu receipts and expenditures each year from 1SGS to lsD3 and continued: "Now for ' he first time since 1V we have deficiencies of revenue. Since the ,1st of March, 1SU3, to the 1st of December, lSfC. the national debt has ben Increased $lt,fr!.G43. The President In his recent annual message complains that the law of Oct. e. 1. known as the McKlnley act, was 'inefficient for the purposes of revenue.' That law. though It largely reduced taxation by placing many articles on the free list and pranted a lunty for the production of eugar, yet did 'not reduce revenues below expenditures, but provi.Jed a surplus of V,::Z7J.G2.ll June ?, 1S31, and rtfUXZM June Zi ls02. and U311.6TI.2D on the 3th or June, 111, when Mr. Cleveland was President and a Democratic majority In both Houses of Congress ha1 been elected all pledged to repeal the McKlnley act and to - reduce duties. WHY REVENUES' FELL OFF. That the McKlnley act did not produce more revenue In 1S)3 and ll Is not a matter of surprise. Any tariff law denounced by the party in power, with a promise to repeal It, and to reduce duties, would prevent Importations under the old law, and thus lower the revenues. Early in December, 121, at the first regular session of Con"gress during Mr. Cleveland's term, a bill was formulated and as soon as practicable passed the House of Representatives. That bill met the hearty approval of the President. If It had become tC law, as originally presented, tht deficiency In the revenue would h.ive been mjcli greater than now. The conservative Democratic Senators, with the aid of Republican Senators, greatly Improved the Iiou.e i:U. added other duties and changed the .cop3 of the measure. With these amendments It became a law. The President refused to sign It, expressing his op;os!tion. to the Senate amendments, and yet now supports it when delleiencies have been Rrtatly Increased, when th public debt is lnereaing and doubts are expressed as to the ability of the government to mlntain its notes at par with coin. No complaint was made that the McKlnley law wai Inettloicnt for 'the purposes of revenue' when the Wilson bill was' pending. The objection to the McKlnley law was that It was a 'protective tariff and the Wilson bill was a 'revenue tariff I have a statement showing the receipts end expenditures under each law, each month, the McKlnley law from its passage to the election of Cleveland and the Wilson law from its passage to Dec. 1, 1S. Dur- . ing the twenty-five months of the McKlnley law the average monthly surplus was 3-1,129.821. During the existence of the Wilon law the average monthly deficiency was J1.C93.&J3. If the McKlnley law was, in the opinion of the President, Inefficient for revenue, he should have said of the Wilson law that it was 'bounteous in deficiencies " Mr. Sherman then entered into comparative, analysis of the McKlnley and Wilson laws to show that under the latter we exported In a year agricultural productions valued at 01.578.S,C, While during the last year of the McKlnley law we exported imilar productions valued at $-771,125,293. "Iesident Cleveland," he continued, "be

lieves in large importations at the lowest cost, without regard to the Industrie and labor of our countrymen, while I believe In a careful discrimination and the Imposition of such duties on articles that compete with home productions as will diversify our employments and protect and foster impar tially all Industries. whether of the farm, workshop, the mine, the forest or the rea. I have not been satisfied with any tariff law made during my public life, though I have shared In framing many. I prefer a law that will Impartially protect and encourage all name industries, ana re frard the McKlnley law a? Infinitely better than the Wilson law, which I believe is - the cause of all the evils which we now en counter by adverse balance of trade, by exportatlon of gold and derangement of our monetary system. ONE OF THE PRESIDENT'S ERRORS. Mr. Sherman, continuing, declared that the deficiency of revenue was the primary cause of the demand for United States notes, and . that the only remedies are either a radical reduction of expenditures or an increase of taxation, and perhaps both. He thought it strange, that the President, in dealing with our financial condition, should ignore entire ly the fact that during his term of office thus far three Issue3 of bonds have been made, amounting. In the aggregate, to $162,313,400, to meet current expenses in time of profound peace. "The President," he said, "attributes all our financial difficulties to the continued circulation of its notes and treasury notes debts, bearing no interest. amounting to nearly X,000.OjO. His state ment of the origin and history of the United State? notes is strongly tinged with preju dice, for, though these notes were irredeemable for a time, they were Incontrovertible into bonds bearing Interest payable in coin. They replaced notes issued by banks chartered by the several States." Senator Sherman then read from Secretary Carlisle's report to show that, prior to 1S91, the demand for coin for United States notes during a period of thirteen years, from July 1. 1879. to July 1. lxrj. was only tf.:uo,&. while the receipts of gold for United States rotes durln;r the same period amounted to J160X.Xx. The withdrawals from the treas ury from July 1. 1SDJ. to De. 1. 1S9", have amounted to yjHn.wj.f.i. ".During the nrst term of Mr. Cleveland," the continued. "when he was powerless to affect our cur rency and tariff policy, the Senate being lie publican, the gold increased from J240.CO).O0O on the 1st of April, isx to x2t,wo.uo on tne 1st of April. 1SSD. This gold came Into the treasury without cost, in exchange for .United States notes or gold certificates. It Is just to Mr. Carlisle to say that he attributes the withdrawal of soil to silver leg-i-latlon. jet the Rland-Allison act was In force from 1S7S to 1SW, when the accumulation of gold occurred, and the great body of gold n withdrawn after the act of Julv H. 1S30, was repealed. "In view of thee official facts, can any fair man doubt as to the rause of our financial condition? What other cause can be stated than that unwise legislation reduced our revenues below our expenditures, impaired confidence In our ability to maintain car currency ?t par und compelled the government to sell bonds provided for the redemption of United States notes, in order to meet deficiencies? What other remedy I there for our financial difficulties except to borrow money on the best terms possible to pay current deficiencies and to provide additional revenue for future wants? To this extent and for these purposes I am willing to support this administration, however much I may disagree with its general policy, . disastrous; policy. "Rut the President Is not satisfied. He demands the retirement and cancellation of all the United States notes and treasury notes by the sale of bonds of the United States bearing interest. If this policy is adopted to compel the pecple of the United States to Surrender the best paper currency they have ever enjoyed it will fail. If revenue is wanted f meet current expenditures it will be furnished either by taxation or by borrowing or by both, but i create deficiencies in order to compel the cancellation of United states notes by the Issue of .bopls will not, m the language cf the President, 'meet with legislative' approval "The deficiency would not have occurred," Mr. Sherman insisted, "had not the President and both houses of the Fiftytnird Congress. thcn in political sympathy, united in passing a law leaucing the revenue below expenditures for the first time since the- close, of the war. I do not wish to criticise .the sales of bonds authorized by the resumption act to meet these deficiencies. Uner the circumstances the administration was Justified In doing this even to the impairment of the resumption fund, but it ought frankly to say that the cause of the invasion of the resumption fund was the deficiency of revenue created by faulty tariff legislation by the last Congress. The true remedy is to supply by taxation in some form additional revenue and until this can be effected, to borrow from the people of the United States enough money to cover past and future deficiencies. Th's done, gold will readily be exchanged for United States notes as "was done from January, 1S73. to the election of Mr. Cleveland. "Two defects in existing law relating, to redemption are nuntioned by the President, First, that the notes presented for redemption must be reissued. It seems from the newspapers that he has found the power to hold notes reieemed until they can be exchanged for coin, a discovery that he hould have made sooner. Second, that the resumption fund is a part of the general balance in the treasury and may be applied to current expenditures. Congress neglected to cure the defects pointed out by mo at Secretary of the Treasury in 1SS0, but I hope will correct them now at the request of the President. It was not then anticipated that a deficiency of revenue would occur or that if it d!l occur, the government would use a fund specifically pleisred for another purpose to meet current liabilities. Notes once redeemed should only be issued for gold coin and such relirua should be mandatory when, coin Is

deposited in the treasury. With the provision of law the scarcity of currency would create such a demand for it that the gold will be freely deposited in exchange for the more portable and convenient notes of the United States. The resumption fund should be segregated from all other morey of the United States and paid out only in redemption of United State notes. "With such provisions in the law the resumption fund could not be invaded to meet deficiencies In the revenue. They should be provided for by bonds or certificates of Indebtedness of small denominations at a low rate of Interest, which would be readily taken by the people through national banks, subtreasuries and postoffiees. As the term 'lawful money Inclules gold coins, there Is disposition by the timll banks to convert their United States notes Into coin, thus aiding In depleting the redemption reserve. This ought to be prevented by a provision of law that the bank reserve of lawful money shall be United States or treasury notes only. The resumption fund Is the safeguard of the money of the people and its use for any other purpose is practical, repudiation of the public faith. THE ENDLESS "CHAIN "The President complains that the notes are presented and paid, reissued and paid again and again, making a continuous circuit. When did this circuit commence? The only answer Is when this administration, supported by the last Congress, created a deficiency. Why does the circuit continue? It is because the deficiency continues. The government resorts to the financial policy of Micawber. It gives its bonds and thinks the debt paid. But the circuit continues. The money received for current revenue is paid to cover deficiencies, and is returned tor gold, and then, more bonds. The Secretary hopes that in two or three years there will be no deficiency. What Is the ground for this hope? Is it that a new administration will provide more revenue and then the circuit will be broken? Why not apply the remedy now? "If deficiencies occur Congress should immediately supply the means to meet them, and Congress, and not the administration, must be the Judge of the mode and manner of relief. The President is of the opinion that the United States notes and treasury notes should be retired and give place to bank notes. This is a question for Congress to decide. It is certainly not of that opinion now, nor was the last Congress of that opinion. I believe that under existing laws tne aggregate sum of United States notes ami treasury notes issued under the act of 1K0, amounting to about $400,000,1, can be easily maintained at par with coin if the two amendments I have mentioned

are adopted by Congress." In conclusion Senator Sherman said: "A careful study of the systems of banking, currency and coinage adopted by the principal nations of Europe convinces me that our system, when cured of a few defects developed by time, founded on the bimetallic coinage, of gold and sliver, maintained at par with each other, with free national banks established in every city and town of Importance in the United States, issuing their notes secured beyond doubt by United States bonds or pme equivalent security, redeemable on demand in United States notes, and the Issue of an amount of United States notes and treasury notes equal to the amount now outstanding, with provision for a ratable increase with the increase of population, alwaya redeemable in coin supported by an ample reserve of coin In the treasury, not to be Invaded by deficiencies of revenue, and separated by the subtreasury system from all connection with the receipts and expenditures of the governmentsuch a system would make our money current in commercial circles In every land and clime better than the bet that now exists In Europe, better than that of Great Britain, which now holds the purse strings of the world. I may on some proper occasion hereafter give the reasons for my faith in our present financial system. All I ask now is that you will not disturb it with your deficiencies; you will not rob it of its safeguards; you will not return to the days of wildcat money; you will not lessen the savings of prudent labor or tho accumulations of the rich. Time makes all things even. Let us give to the executive authorities ample means to meet the appropriations you have made, but let us strengthen rather than weaken our monetary system, which lies at the foundation of our prosperity and progress." A SPIRITED D CIS ATE. Speeches liy Mill, Hill, Ulktns, Sher man, Teller and Others. At the conclusion of Mr. Sherman's re marks Mr. Butler renewed his request for the immediate consideration of his bill to prohibit the future sale of bonds except with the consent of Congress. The newspapers this morning, he said, had told the story of the impending bond issue. Action should be had at once. Mr. Butler asked unanimous consent to put his bill on its passage, and Mr. Hill, who happened to be in the chair, rather startled the Senate by himself interposing an objection. Mr. Mills then took the floor in reply to Mr. Sherman. He repelled the charge that the Fifty-third Congress was in any way responsible for the present financial crisis. The burden belonged to the Fif t y-flrst Congress, and Mr. Sherman was partly responsible for the legislation of that Congress. The Democrats had turned over to the Harrison administration In 1S83 $230,000,000. How was it, he asked, if the claim that the McKlnley bill had produced sufficient revenue was true that in 1893 when the Democrats again assumed control all that surplus was gone, consumed and dissipated. Mr. Mills compared the McKlnley and the Wilson bills. The former was entitled a bill "to reduce revenues;" the latter l'to reduce taxation The report on the McKlnley bill, written by Chairman McKlnley, recited the problematic effect of the measure on the revenues of the government. And yet, with the MoKInley act responsible for the reduction of revenues, the cry was now raised that the Wilson act was responsible for he decreases. Mr. Mills criticised the "double play" proceedings by the passage in the House of an "emergency .bill." If this bill passed the Senate, as it might by Populist support, It would meet with swift and sure punishment on the part of the people against those responsible for it. MR. ELKINS'S RESOLUTION. Mr. Sherman's resolution was temporarily laid aside and that of Mr. El kins, directing the disposal of bonds by public sale, was taken up. Mr. Elklns spoke vigorously in its support. He referred to the fact that petty government officials were compelled to make contracts after the advertisement, and yet the President and Secretary of the Treasury were entirely relieved of this valuable safeguard. Mr. Elkins reviewed the commissions paid for floating loans dur ing the war to show the enormous extortion or tne syndicates wno naa iaicen up tne leans of the- present administration. Only about &.5CO.G0O had been paid .in commis sions on loans aggregating $2,500,000,000 dur ing the war. In other words, if reports were to be credited, the bond syndicate had made more in placing a loan of $2,000,uu0 than was paid for floating the entire war debt. The war loans were floated anions the people, as all loans should be. It was said that one banker was to obtain $1,000,000 commission for floating the contemplated loan of $100,000,000. The people were unable to comprehend such reckless and wanton waste of millions. He did not mean to criticise the President, the Secretary of the Treasury or the syndicate which was Elmply taking advantage of an opportunity, but he Insisted that the people would take these bonds at much higher figures than those paid the government. The credit of the country was unassailable. We were Im measurably the richest country of the globe. The Rothschilds, the Morgans and the money changers of the world should not have us by the throat. In conclusion, Mr. Elklns moved that the Senate proceed with the consideration of his resolution. Mr. Hill sought to object, but was cut on by the Vice President's ruling that the ruling was debatable. The vote was taken, resulting as follows: Yeas Aldrlch, Alien. Allison. liaKer, uate. Berry. Burrows. Butler, Call, Cameron. Chandler. Clark. Cockrell. Cullom. Davis, Dubois. Elkins. Faulkner. Frye. Gallmger. Oecrre. Hale. Hawley. Hoar, Jones of Ne vada. Kyle. Lodge. McBrlde, Mantle, Mar tin. Morgan, Morrlir JNeiscn. rerrer. rerKins, Pettlgrew, Proctor, Pugh. Roach, Sherman. Shoun. Teller. Turple, Vest, Voorhees. Walthall. Warren. White 4$. Navs Brlce. Caffery. Chilton. Hill, Mitchell of Wisconsin, Murphy 6. HILL PRECIPITATES TROUBLE. Mr. Hill at once moved to refer the reso lution to the finance committee. 9 "Let us vote on that now," said Mr. Teller. "No, not Just yet' responded Mr. Hill. There can be no vote on this resolution for the present The reso.utlon passed for an adjournment to Tuesday made it readily possible to prevent a vote oa the resolu

tion by debating It at length. Mr. Hill de-

dared the resolution to be a futile move

ment which could have no more effect than the Pope s bull against the comet. Why should the Senate attempt at this moment of financial embarrassment furtn er to tie the hands of the executive au thorlty. Mr. Hill said he had no special sympatay with these money syndicates In New York city. He contended that this method of sale of bonds to syndicates was not new. Under a Republican administra tion in 1S7S a bond sale of this nature was negotiated. . "But"-the re was thirty days notice of sale." interrupted Mr. Elklns. "And within that thirty days," added Mr. Sherman, 'the public, instead of bankers. took the bonds. " Mr. Hill declared that banks and syndl cates frequently pushed forward "the pub lic" to disguise their own transactions. The Senator read in detail the bond contract made in 1878. to Which the name3 of Selig mans, Belmonts, Morgans and the representatives of the Rothschilds were ap pended. "And who was the Secretary of the Treas ury at that time?" asked Mr. Turpie. . "It was that distinguished public man, the Senator from Ohio John fehermrn," re sponded Mr. Hill, with great vigor. "Who are the men in this present syndl cate?" asked Mr. Hill, continuing. "Who Is this Mr. Morgan of whom we hear so much? Is he not the Mr. Morgan who furnishevS the sinews of war to the Republican party? There is no reason to believe that the ex ecutlve authorities would seek to grant special favors to this gentleman." In the judgment of Mr. Hill no contract whatever has been made at the present time, notwithstanding the announcements of the newsnaners. The Senator referred frequent ly to the First National Bank of New York as one of the participators in the bond transactions of 1878. "What 13 the peculiarity of this First National Bank." asked Mr. Harris, "that the Senator refers to It so mysteriously?" "I will not go Into that unpleasant chap ter." said Mr. Hill. "The public will recall the transactions of that day. The charges of favoritism extended to this bank be cause of its contributions to the Republic an cause will be recalled. But I 'do not in tend to go into that subject." DENIED BY ELKINS. Mr. Elklns was quickly on his feet. "I deny' said he, "that the First National Bank of New York is a contributor to the Republican cause. One of the officials of that bank Is a Democrat, another a Repub lican, another an independent all honor able men." Mr. Hill added, sarcastically, that he did not doubt the" Integrity of these men. He would not be led Into a discussion of the charges made that the Secretary of the Treasury (Mr. Sherman) at the time of these bond contracts, had shown undue fa vorltism to this bank. Mr. Sherman interrupted, book In hand. to read the details of the bond contract referred to by Mr. Hill, pointing out the provision for a popular absorption of the oonas. "Does the Senator mean to say," Inquired .Mr. Jilii, addressing himself to Mr. Sher man, "that he did not make a contract with a banking syndicate?" "J most emphatieall state." responded Mr. Sherman, "that a large part of those Issues were taken by the public." Returning to the resolution, Mr. Hill gave it as his belief that the President would not pay the slightest attention to It. He would be governed by the laws now on the books; not uy sucn resolutions. Mr. Sherman followed with a detailed ex planation of the bond issues under his ad ministration of the treasury. The contract of 1878 was with the bankers, with whom the government had previously dealt. After tnat, during all the period of resumption, not one dollar was paid to any syndicate, but all bond disposals were given the wid est publicity, at postofHces and public Places tnrougnout tne country. Mr. Butler, offered an amendment to the resolution, prohibiting Issues of bonds with out congressional authority. Mr. Chilton offered a further amendment on the same line as that of Mr. Butler, but differing In detail. He spoke briefly, it be ing his initial address to tne Senate. He opposed the Issue of bonds, root and branch. He believed in silver coinage. He did not approve temporary expedients In dealing with these questions. 'Mr. Lodge spoke of the extent of gold holdings outside of New York city. And yet. said he. under the prevailing oollcy of the treasury, no effort was made to get gold outside or .New York. The American people at large were given no opportunity to take the bonds of their government. Mr. Lodge referred to the offer of the New York World to take $1,000,000 of bonds. This offer and all others from the public should be considered and the people given an opportunity to take the bonds. Mr. Teller referred to the integrity of the bond sales of 1878. There had been no public scandal over any bond sale up to 1S05. He then compared -the results of the bond sales of 1877-78 with those of 1895. asserting that great losses to the government occurred under the contract last year. There had been no secret, private contracts as to bonds. . Bankers should have the same rights and no more than the men having money In the savings bank. Mr. Teller also referred to the offer of the New York World to take a million of these bonds at 3 per cent. "I venture to say." Interrupted Mr. Hill, "that the offer of Mr. Pulilzer is the only one that has been made. No bank in the country has made such an offer. Ido not believe there is a single bank in this country that will take these coin bonds at 3 per cent." THE 'ADMINISTRATION SCORED. Mr. Teller proceeded to show that bankers throughout tho country were ready to take the bonds. He recited specific offers at the time of the last Issue. The Senator read, with much vigor, the personal appeal of the New York World to the President. "This was a remarkable document," said Mr. Teller, "a profound appeal to a President to avert a scandal in an administration that the paper had helped to bring into existence." The Senator denounced the "Imbecility or dishonesty" of the executive branch in making this secret contract. It amounted, said Mr. Teller, to a misappropriation of public funds and the public would so judge the past and the coming transaction. Mr. Hill replied that this talk of allowing the public to take the bond3 was for political effect; it smacked of demagogy. Let the people of Colorado corae forward with their gold. Let the gold come from any source and "see how quickly it would be accepted. Instead of offers there was assertion and criticism. At this point Mr. Hill paid a tribute to Secretary Carlisle, repeatedly calling him his full name John G. Carlisle which attracted marked attention. "Imbecile, incompetent, dishonest is what we hear," said Mr. Hill. "John G. Carlisle incompetent! One of the greatest public men that this country ever produced. John G. Carlisle dishonest! An yet, thirty years In public life and a pacr man to-day, llvjng on his salary. 'Imbecile, dishonest' is what we hear hissed across the Senate." Mr. Hill said if anyone had suffered at the hands of Mr. Carlisle It was himself and his colleague (Mr. Murphy.) They had been Ignored in the appointments of their own State. And yet, Mr. Hill wa3 thankful that he was broad enough to recognize the unflagging patriotism and devotion of the Secretary to to country and his ability in meeting. the requirements of occasions. He was seeking to act while the critics stood "picking flaws on this thing and that" and bickering in the fac of an emergency. Mr. Hawley gave his personal observations in Paris when the people took up the great bond issue required to pay the German war indemnity. Mr. Hawley believed the American people would take up a bond issue with the Fame readiness. Mr. Hoar spoke of the calamitous conditions, unparalled in the history of the, United States, presented by the present transactions of the controlling executive authorities. He asked what had become of the history and honesty and integrity of the old Democratic party. A sharp colloquy occurred between Messrs. Hoar, Hill and Sherman as to the use of the reserve funds for. meeting current? expenses. Mr. Hill contending against the others that the use of treasury funds was strictly within the law. Another sharp passage occurred between Mr. Hill and Mr. Hawley. when the latter referred to the prospects of a free-silver rlier to the bond bill. Mr. Caffery sharply responded to Mr. Teller's assertion that the administration was imbecile or dishonest. Mr. Teller rose to say that he would make It "Incompetent or dishonest." Mr. Caffery also responded to Mr. Hoar's criticisms on the decadence of Southern integrity. At least, said Mr. Caffery, the Southern men did not add hypocrisy to their puhllc action In order to secure a petty party advantage, and Indirectly to stab the sound-money cause they pretended to espouse. At 5:15 o'clock Mr. Aldrich rose to state that It was apparent that no vote could be reached to-night, and he would move an adjournment. Mr. Elklns demanded a roll call, and there was a chorus of seconds to his demand. On the call the Senate voted 27 to 5 to adjourn- The- vote in detail follows: Yeas Aldrich. Allison. Bate, Berry, Brlce. Cafferv. Call. Chilton Cullom, George. Gibson, Gorman. Gray. Hale, Harris. Hawley, Hill. Hoar. Lodge, Martin, Mitchell of Wisconsin. Murphy. Roach. Vest, .Voorhees, Walthall nd Wet more 27. Nays Allen, Baker. Burrows. Butler, Cameron, Carter, Chandler, Clark, Davis, j Dubois. Elklns, Frve, -Tones of Nevada, , Kyle, McBride, Mantle. Nelson, TeSer, Per- i

kins. Pettlgrew. Proctor, Pugh, Shoup,

squire. Teller, Warren 26. Then, at 5:25 d. m the Senate adjourned unui xuesaay. DILLS ASD RESOLUTIONS. Some of the Measures Introduced In the Senate Yesterday. WASHINGTON. Jan. 3. Following are the important bills and resolutions intro duced in the Senate to-day: By Sir. Hale Authorizing the Postmastergeneral to contract with the Pacific Cable Company for the construction of a telegraph cable between San Francisco and Honolulu, Hawaii. The United States is to pay the company annually a sum equal to 4 per cent, of the amount expended each year by the company. The contract is to continue for twenty years, and'the line Is io u wmpieiea py JUiy l. iw.. n is aiso stipulated mat the .government may come into the ownership of the proposed line by paying tne cost price for it, with 5 per cent. added By Mr. Allen Recognizing the proposed transmls"isslppl exposition to be held at Omaiia in IK, and providing for the erec tion or a government building ana tor a government exhibit. By Mr. Brlce Extending the duties of the deep waterways commission so as to au thorize it to Inquire into the feasibility of erecting dams on the outlets or tne great lakes for the purpose of raising the level of the lakes. By Mr. Gear An amendment to the House tariff bill laying a duty of $24 per head on horses and mules; cattle, J7.50 per head; pheep and hogs. $1.50 ner head, and also increasing the duty on breadstuns and other farm products. By Mr. Lodge A resolution that the com mittee on foreign relations be directed to Inquire and report to the Senate whether the islands of St. Croix. St. John and St. Thomas, in the West Indies, can now be purchased from the Danish government. By Senator Cullom For the retirement or generals of the war. It provides for the placing on the retired list without pay or allowance officers who have heretofore commanded corps, divisions or brigades in the army at the grade formerly neld by them, in the discretion of the President and on their own request. DABBLED IN STOCKS SOLICITOUS' LOAX ANT TRUST COM PANY, OF PHILADELPHIA, ASSIGNS. May Be a Sequel to the Recent "Bear ing' of Citizens' Street-Railroad Company Stock. PHILADELPHIA. Jan. 3.-The Solicitors' Loan and Trust Company, of this city, of which Richard W. Clay is president, made an assignment to-day. The trouble came through outside operations of J. R. Rltter, who has charge of the company's real estate department. He is said to have floated a series of drafts In the Trades men's National Bank of this city for a New York man. Two weeks ago President Clay, of the trust company, gave the Tradesmen's Bank a bond of $150,000 to in demnify it against loss. This bond was given without the knowledge of the di rectors, and when the members of the board learned of it they repudiated the action of the president, and, in view of tho circumstances, decided ,to make an assign ment In order to learn the true condition of the company. An examination .of the books show that the assets are all right. The assignment was made jointly to Effingham B. Morris, president of the Girard Trust Company, and Colonel Cuyler, a director of the involved company. Mr. Ritter is said to have been dealing In the stock of the Indianapolis Traction Com pany, which has declined recently from 58 to 24V&. It is rumored that the cashier of a big bank who was operating with Ritter was forced to resign his position. The Solicitors' Loan and Trust Company has assets of about $1,200,000. most of which is tied up In Western mortgages, it was founded in witn a ruu paia capital oi $.7)0,000. Its stock recently dropped about $10. a share. i..C0l... Dewut uuyier staieu that Mr. Ritter. said he was using his own money in his speculative' ventures, but Mr. Cuyler was unable to say, in view of this statement, whv President Clay gave the $150,000 bond to the Tradesmen's Bank. After the board or directors naa repuaiaiea tne bond the Tradesmen's Bank threatened to bring suit to recover tne money, ana mis, the assignees state, was whtt caused the assignment. It was stated at the office of the trust company to-day that Mr. Ritter Is ill at his home in th'.clty. Neither he nor President Clay could be seen. The v.TTor mshier. J. A. McKee. of the Trades men's National Bank is said to have cashed Ritters drafts for $2oy,uH). in consequence of his connection with the latter's specula tions 'he was recently compenea io resign. itntAr la lvine at the point of death. The meeting at whlcn tne directors aeciacu io repudiate the action of their president was Hav it. The revelations have created a sensation in financial circles. "niiAU" FEELING PREVAILS. It la Thought Here that There Is it Ik Deal On In Cltlsens' Stock. rm, irnaeeinr, oppma to nrevall here that 'wt oivu r 1 mere nas uccn - stock of the Citizens' Street-railroad ComDanv that are responsible for this Phlladelphla failure. That the rumor of tne sale of the company to R. T. McDonald, which was started last Saturday, was denied so emphatically by H. Sellers McKee, Is given as an indication that he and Murray Verner, the principal owners of the stock, have been "bearing" It, while there has been an other force at work to keep it up. The re port of the sale was denied by the local officers 'of the company, as well as by the officers of the Broad Ripple company, which Is owned by Mr. McDonald, although they all seemed to feel that something, they knew not what, was working in a manner lo seriously affect the standing of the stock. Confirming this belief is the report of transactions in the stock for some months past. The stock reached, last year, as high as h'J, and touched 22 in its downward travels. It opened last January at 28 and closed, Dec. 31, at 37. Tne worK 01 tne last few days, however, has had a most depressing effect upon it, and yesterday it was quoted in New York at to J6. maKing a fall of more than 10 points in three days. It was only a short time ago that it sold for 44, George J. Marott buying some at that fig ure. This great fall In the price, considered with the rumors of sale and theirpromnt denial, while the rumors themselves cannot be traced to any reliable source, has increased the feeling here that the stock Is being purposely pulled down, and that the rumors were set afloat by interested persons. The fact that President Light, of the Broad Ripple company, and Leon Bailey, R. T. McDonald's attorney, have been with him In Fort vayne for several days, and that It is during this time that the stock or the Citizens' company, has dropped so heavily, adds another weight to the "bear" sentiment. President Mason yesterday said the fail ure of the Philadelphia company would have no effect on the street-car company, for there is no connection with It. The trust company had acted as agent of the street-car company, imt It now has only about $U0O of the company's money on deposit. This money was to pay interest on coupons that have not been presented. These coupons, Mr. Mason says, will be paid at the Indiana National Bank. Mr. Mason said he could not see any way in which the failure could affect his company. R. W. Clay holds some stock, but he did not think it amounted to a very great sum. Mr Mason denied that there is any reason to believe that any one Is trying to bear the stock for the purpose of obtaining a controlling interest at a low figure. Murray Verner has been in the city for veral days, but has carefully avoided newspaper men. Last night he was at the Denison, with attorney Albert Wlshard. rinspted in his room for a long time. An attempt was made to see him, -but the renorters card was returned with the evasive "not In"cn it. His long stay in the city is a matter of some surprise, as he usually remains here not more than two days and a night. The Trust Company Finances. Last July, according to the Bankers' Directory, the Solicitors' - Loan and Trust Company had a paid-up capital of jnoo.000; surplus, .$273,000; undivided profits. $10,000; deposits, subject to check, $315,000. This company acted as financial agent when the sale of the street-car company was made by the Chicago people. It furnished the money, and in some way secured an interest in certain funds or bonds that were to be divided among a certain few. The telegrams indicate that the trust company, or some of Its officers, has been trying to counteract the . supposed attempt to bear the stodw

rif T ElTLTTI fi D I? XT ? Ti

X' ILjUU JJlJLjLLj1J CELEBRATION AT PHIXCETOX OVER A .HEW MIXIXO EXTKitntisi;. Marlon Elopers Snendlncr Their Honeymoon In Chicago Death of a Hanover College Dencfactor. Special to the Indianapolis Journal. PRINCETON, Ind., Jan. 3. For the past twenty-five years the citizens of this place have known that an excellent quality of . B.,a toror, att.av ,n a PVn-fnot voln i ' - - 410 feet below them. Well after well has I been bored in different parts of the city and the same veins were passed through in every case. Many attempts have been made to raise money to go down and uncover the best coal in Indiana, but the enterprise al ways failed. 'All along Louis J. Oswald, a young man of this place, has predicted that some day Gibson county would have the finest coal fields west of Pennsylvania. At last he has succeeded in getting the Maule Mining Company, one of the strongest concerns in the Central States, to develop the I coal fields of this county. The business men of Princeton raised $7,500, which they placed to Mr. Maule's credit and work was at last commenced, and on Christmas day the coal was uncovered and the first bucketfull hoisted. In honor of Mr. Maule over onw hundred. men of prominence from Chicago, St. Louis, lndlanapolii, Louisville and otner cltlea were invited to attend a reception and banquet in this city, to-night. The busi ness houses were profusely decorated. A special tialn bringing a large crowd from St. Louis and Believllle, Hi., was met at Mount Carmel by the leception committee and the City Council. At the L. E. & SL L. shops the train came to a halt and the guests inspected the shops and car works. The train then pulled down to the mine, where a jollification was held. At the Union Depot it was met by carriages and the band and all weie escorted to the courthouse. Mr. Maule and Princeton people received many congratulations. At 7:30 o'clock President Gil R. Stormont led the way to the !' banquet-hall. Hon. M. W. Fields mude the welcome address. Toastmaster J. it. .am ple called on Dr. S. F. Gilmoie. Other toasts were made by L. J. Oswald, Jor.n .Mauie, St. Louis; W. M. Borders, Belleville; Re ceiver HoDklns. of the L. E. & St. Su perintendent Corbet of the E. & T. H. rail way: Hon. Edward ue voy. m. ix)uis; Charles D. Horder, Chicago; Hon. Robert Mitchell and Hon. A. D. Twinenam. Tne following guests were present: John Maule. Frank Maule, R. A. Maule, Alex. Maule, William Maule, James Maule, John Dintleman, F. R. D. Sunkel, M. W. Borders, J. M. Hamil. Charles Becker, Adolph Shlrmer, Charles P. Flelshbein, Charles Holmes, Charles Hortmann, of Belleville. 111.: Andrew Haley. A. J. Shutz. Thomas J. Ward. James M. O'Shea, T. J. Hennesey. E. W. Staunn. Moses Greenwood, jr., Henry Corke, Henry Thies, J. S. Foulks, John Ruprecht, Louis Steffan, Henry Muel ler. James Cavanaugn, Lem Parker, is. Horn, William Berry, C. Adams, H. Leathe, J. W. McCormlck. J. W. Simpson. J. D. Crabb, W. L. De Voy, J. D. Feuetborn, M. L. Holman. George EL Lary. W. S. Wilson, B. A. Campbell. Colonel Stephens, John Scullln, W. C Morris, J. E. Williams. F. X. Roederer, L. P. Luk, John Prlnn, Gustavlus Baur. J. H. Dnnj', S. B. Pike, J. M. Beach, J. II. Kilpatrick, B. P. Gorman, S; W. Booker, of St. Louis; Herman Monicale, New Harmony, Ind.; Mason J. Niblack, V'lncennes. Ind.: Col. Bennet H. Young, Louisville: Hon. Robert Bell, Mount Car mel; William H. Mahan. Washington. Ind.; Z. M. Wood, Fort Branch. Ind.; J. W. Phillips, Union, Ind.; Thomas H. 'Emmerson, Owensvllle, Ini.; B. O. Horkln. W. M. Corbet, A. C. Palmer, Jabez Wooley, jr., of Evansvllle; J. R. Sample L. J. Oswald, of Princeton; David Ingle, J. W. Sklvlngton, of Oakland City; E. S. Wilson, W. C. Shy, John Page, L. Landberger, of Olney; Charles D. Horder, Henry Hafer, John Dunlap, of Chicago: Robert PrunM', pf Grayville. 111.; John F. Wallick. of Indianapolis; Major Bluford Wilson, of Springfield. 111. INDIANA OBITUARY. John Clarke, a Pioneer and Banker at Franklin. FRANKLIN. Ind., Jan. 3. John Clarke, one of the oldest, wealthiest and most influential citizens of this place, died at his home In the Clarendon Hotel this evening at o'clock. He had been declining for several months. Mr. Clarke was a native of Saybrook, Conn. He was born In 1818. In 1819 he was brought to Jennings county by his parents. For a time his home was in Madison, where !hls parents died. He was educated in the log schoolhouses of Jennings county. At the age of seventeen he worked one year for Levi Todd, a Vernon merchant, $40 being the pay received. He engaged later In the mercantile business in Edinburg. In 1861 he oame to Franklin and engaged In the mill ing business. Since 1871 Mr. Clarke had engaged in the banking business. For years he was president of the old Second National and later of the Franklin National. He was quite wrealthy. A few years ago be gave two large business blocks to Hanover College, the proceeds to endow the Ezra Clarke chair. He was a member of the Presbyterian Church, and waa liberal in his contributions to church, and benevolent work. He married Jane P. Flnk, a native of Pittsburg. Pa,, in 1850. She died in 1876. tt 1 ,1 ir.. 1 r . . 1 n 1 1 . Vernon. In 1878. who survives him. as Hom en oniy daughter, Mrs. Victor Smith, of this city. No arrangements have yet been made iUi 010 lu"l-'u Other Deaths In the State. ANDERSON. Ind., Jan. 3. Word was received here to-day by Joseph Morrey that Miss Emma Michaels, daughter of Mr. Mat Hickson, had died suddenly in Converse, Ind., where she was visiting. Miss Michaels formerly resided in Anderson, and was popular In the social circles of the city, and especially as a member of Ivy Leaf Chapter. Daughters of Rebekah. who will have charge of .the funeral services to-morrow afternoon on the arrival oSthe remains. SHE LB Y VI LLE, Ind., J 3. Mrs. Martha Barber, of Mifillnburgr Pa., aged seventy-one, died at the home of her daughter, Mrs. Leonard C. Powell, in this city, to-day. Mrs. Barber came here- on a visit Dec. 6 and took sick, gradually growing worse until this morning, when she 'died. The remains will be taken to her home for interment. MUNCIE, Ind., Jan. 3. Mrs. Mary Willlams, wife of John W. Williams, died yesterday of consumption. She was aged fortysix. Miss Etta Harold, aged twenty-two, died yesterday of dropsy. - ROCKPORT, Ind., Jan. 3. John B. Higglns, aged sixty-six, a well-known veteran of the Sixty-fifth Indiana Infantry Volunteers, died at his , home In this city this morning of pneumonia. Sent Ills Glass Eye for a Test. Special to the Indianapolis Journal. MUNCIE, Ind., Jan. 3. Tn railroad circles quite a Joke Is being 0:1 rondmaster Hoban, of the F. W., C. & L. division of the L. E. & W. Recently an order war- Issued requiring all section .r:-:i to he examined for color blindness. One man, Anthony Driscoil. south of Muncle, failed to report, but instead sent a package to the official. It contained a neatly wrapped package, in which was a glass eye, a silver watch and a letter. The letter read as follows: " "Dear Sir The day before yesterday at nune I got word to cum down and have me ise looked after fur culur blindness as ye call it. I had forty-five ties and ten rales to put down beyond the sand cut, and as Jerry Sullivan and Domlnlck Cooley were laid up since the wake that wuz holded over the corpus of Danny Doherty, my hands wur too s-hort to epare me. 'Twas lucky that the right oye that wuz first in my head wuz put out with the blow of a plk and me glass oye Is a perfect figger of the oye that wuz not put out Is sent to you, together with my watch for the nexaminatlon. I culd spare the glass ore better than the one in the head, and If she is culur blind I'll get one that ain't. Yours, truly. "anthonydriscoll:'' tISCOLL.' Unique Test of a Medium. Special to the Indianapolis Journal. ANDERSON. Ind., Jan. 3. The preliminaries for the contest between the champion of spirituAlism and Elder Covert, Dr. Harry Milton, representing the spiritualists, have been concluded and the forfeit money posted in the office of the Daily Bulletin, of this city. Elder Covert reissued his challenge yesterday, as follows: , "I hereby affirm that modern spiritualism Is a delusion, a fraud and a lie, and that all mediums are liars, frauds, knaves or !rnoramuses. And I hereby agree to give $500 to any medium of this country or Europe that, will demonstrate that the socalled phenomena is produced by the spirits of those who have died. or. If I cannnt duplicate it. demonstrate or prove that the j

so-called modern spiritualism phenomena Is a fraud If the medium claims It Is produced by the spirits of the dead." To this challenge are signed the names of Elder Covert and Dr. Milton, the latter accepting the terms. The debate will begin In this city at the Church of God on the evening of Jan. 20. There have been inquiries from all parts of the country today concerning the discussion. A committee is to be selected to pass on the tests, and if Elder Covert wins the spiritualists agree to denounce the medium as a fraud. CardvrcII Released on Habeas Corpus. Special to the Indianapolis Journal. RUSIIVILLE. Ind., Jan. 3. Informer Andrew G. Cardwell. of Anderson, whose arrest for bigamy has been noted In the Journal, was released to-day on a writ of habeas corpus, the court holding that lie could not be detained on an Information. This ends the action against Cardwell for bigamy, as the statute of limitations for prosecution for that crime expired in Cardwell's case on Dec. 26. Cardwell married the Lucas woman, his second wife. In this city Dec. 26, 1833. and the action for bigamy was not begun until Dec. 23. 1R5. Attorney Bishop, of Anderson, represented Cardwell and ex-Prosecuting Attorney Campbell, of the same city, appeared for the employes of the Arcade file works, who furnished the money for the prosecution. Cardwell betrayed Albert RIcht. a fellow-ehopman, who seven years ago escaped from the Frankfort fk'v.i nenltentlary. Richt. as a result

of Cardwell's treachery, has been again placed in stripes. Applevate Memorial Exercises. Special to the Indianapolis Journal. FRANKLIN, Ind., Jan. 3. The retail gro cers and personal friends of Bergen Applet eate. deceased, of Indianapolis, held a meeting in the Mayor's office, this city, this afternoon. W. Dunlap was chosen chairman and James T. Trout secretary. Rhnrt nrMreAaea were made bv A. A. BllZ mH. I. X. ItJranee. H. N. Dunlap. H. H. Lovster. R. A. Brown. W. A. Johnson and others, exnrersive of the sorrow and per sonal loss to each In the death of Mr. Applegate. He had visited Franklin almost every Monday during the past twenty-five years. Mr. Applegate had endeared himself here as an honest business man and sincere, helpful friend. A. A. Blizzaru, i. X. LaCrantre. J. R. Fleming and R. A. Brown were appointed a committee to draft suitable resolutions, and a floral tribute was ordered. A number from this city will attend the funeral to-morrow. Darllnirton Items. Special to the Indianapolis Journal. DARLINGTON. Ind.. Jan. 3. Umatilla Tribe, No. 194. Red Men, celebrated its first anniversary with an entertainment et Hulett's Hall and banquet at their wigwam. last night, with an address by Charles L. Fe ltis, P. S. C, of Terre Haute, Musla by the, Musio Hall Orchestra, of Crawfordsvllle. In one year the tribe has adopted 118 pale faces of the very best citizens or tnis community, ana is in . nounsning condition. The hoon factory of Knight & Wright. that came nere from Sheridan, started up Jan. 1. This is a new industry for Darlingten, and will give employment to sixty men. The elevator of Craig & Kinder has been sold to Atkinson & Seller, a Frankfort firm. It opened up Jan. 1, after being closed for three months oa account oi tne death of Mr. Kinder. PnmplnT Gas to Richmond. Special to the Indianapolis Journal. ANDERSON, Ind., Jan. 3. To-day the big pumping station for the Richmond Gas Company, four miles east of Anderson, was given its first severe test, and the result was gratifying to Major Doxey and others" of the directors. The company has about seventy-five wells near Chesterfield and show a pressure of 175 pounds. When the pumps were put to worn and the supply de livered to the Richmond line the gauge stood at 300 pounds. The pumping outfit was constructed at a cost of about $100,000. and it will not be necessary to keep the pumps at work all the time to keep a uniform supply of gas on hand for consump tion. Major Doxey holds that the pumps are not a detriment to the wells or the fields, as they do not draw from the wells. but serve to accelerate the flow of gas through the plpes Couple of Marlon Elopers Mlsslnir. Special to the Indianapolis Journal. LOGANSPORT, Ind., Jan. 3. Last Sunday afternoon Mr. C. O. Allen, of Marion, sec retary of a bicycle company of that city. and Miss Zella Hall, also of Marion, came to this city, and the next day it developed that they were elopers. They were refused a license, however, as the young woman was a nonresident, and the necessary affidavit as to age was wanting. The next day the couDle left v.uh tickets for wafceka. 111., and. they have l ot been heard ircni since. The father of Miss Hall Is mating every effort to locate the couple, as r.e never bad any objection to the marriage, and is anxious for them to return. Ire young man is a prcmTnt and ?iiccetlul business man. They are supposed to Le spending their honeymoon at whlcago. Shelbyville Pan-American Congress Special to the Ind;anapolis Journal. SHELBYVILLE, Ind., Jan. 3.The Young Men's Pan-American Congress was tendered a reception at the residence of Mr. J. B. Randall to-night. About eighty were pres ent. The Men's Chorus sansr two orisrnal songs written by Mr. Harold K. Morris, of this city, entitled "Our Flag" and "Pro Patria." At the banquet toasts were re sponded to by Robert W. Buxton, Will Clendennlng, H. C. Goodrich, Charles Harrison, Rev. J. C. Caldwell, Rev. J. 11. T. Lathrop and 5. s. sutton. Mr. and Mrs. W. S. Major, of Shelbyville. entertained the Duplicate Whist Club at their residence to-night in honor of Mr. and Mrs. Samuel adiey, of .Dubuque, la. Suicide In Muncle. Special to the" Indianapolis Journal. MUNCIE, Ind., Jan. 3.-Ceorge Wesley Thompson, aged sixty-three, recently from the Soldiers' Home at Marion, committed suicide at the Boston House la this city to-day from despondency. He went to his room and swaho-wed a large dose of mor phine. The chambermaid heard his proans and called assistance, tut it was too late. Thompson has brothers in Chicago Daj ton, Marion and Muncle, and a sister in Kansas City. William Reed, a colored hostler, attempt ed suicide last night, but was saved. He was out of work, money and friends, but to-day is glad that he lives. $23,000 Suit Aa-alnst the Bla Four. Special to the Indianapolis Journal. RICHMOND. Ind.,Jan. 3.-One of the big gest damage suits that has been in the Wayne county Circuit Court for a long time is on trial now, with quite an array of leffal talent. The suit Is by Charles F. Oray, aerainst" the Big Four railroad, for js,ouo. The complaint alleges that the plaintiff, while in a small building near the company's track, was seriously injured by the building being struck by a car. The case comes here on a change of venue from Randolph county. It is quite probable that a special verdict will be asked for. Judge tjyrun rw. r-iiiuu, ul Auuiauupuus, appears for tne aerenaant. Alleged Kentucky Murderer. Special to the Indianapolis Journal, VECENNES, IndJan. 3. Tom Wilson, alias Lem Dixon, colored, was arrested here to-day on a charge of killing Abe Jones at Henderson, Ky., five years ago. He was seen and recognized by a negro from Henderson, who claims that he witnessed the murder and positively identified Wilson, who has been going by the name of Lem Dixor. here. The prisoner has Just been released from the penitentiary, where he served one year fcr larceny. He was sentenced from this city, and returned a month ago. Assistant Chief of Police Robertson leaves at midnight for Kentucky with his prisoner. - A Poet Journnllst Pummeled. Special to the Indianapolis Journal. ELWOOD, Ind.. Jan. 3. This afternoon John Flnan, of this city, in company with Bernard Baur, called at the office of the Call-Leader and objected to an article which appeared In a metropolitan paper in reference to a suit brought by B. T. and H. C. Calloway. There was a scene and John Finan committed an assault on Byron Del Norte Jones, the poet and Journalist, who. It Is alleged, was the author of the article. The assault was unprovoked, and the matter will be settled In the courts. Fell Dead on the Floor. Special to the Indianapolis Journal. WILKINSON, Ind.. Jan. 3.-Danlel T. Hedrlck, a farmer living four miles northeast of this place, after butchering hogs yesterday went into the room where his wife was in bed at the point of death with consumption and seated himself in a chair by the fire. His wife noticed that he was gasping and called him to come to her. He est up. and etartei toward the bed. but

fell dead wifhout speaking a won. He d:d

of heart disease. He leaves a'Ttlfe and thirteen chuaren. Onyx Mines Are Paylngr. Special to the Indianapolis Journal. LEBANON, Ind., Jan. 3. M. I). Jone. u. perintendent of the onyx mines at Eureka, Springs, Ark., arrived In this city last n:ht to confer with the owners. Two-thirls , the stock In these mines is held by Lebanoi people, the Hon. A. C Dally bring th4 largest holder. Their dividends ; are Jot b ginning to come in. Englne Went In the Ditch. Special to the Indianapolis Journal. NEW ALBANY, Ind., Jan. 3. Harry McDougal. of this city, engineer on the Airline local freight, was badly injured to-day near Princeton. His engine was derail 1 and overturned between two stations wi.;i running at a high rate of spet-d. He brought to his home in this city to-night. Kokomo Clothier Fnttn for SO,mm. Special to the Indianapolis Journal. KOKOMO, Ind.. Jan. 2. The clothing house of David Strauss, of this city, mn j , an assignment this afterarxm, A. 1. Thaiman being named as assignee. A mortga. of $15,000 was given Julius N. Htlirnan. . f Chicago, which will absorb the stock. T.m liabilities are estimated at $30aO. - - Indiana Xotes. During the past year In Richmond thro were 2C7 deaths and 235 births lss malv and 1S2 females. George L. Knox, the colored orator, an I proprietor of the Bates House barber shop, at Indianapolis, delivered a lecture at Cason's Opera House, in Lebanon. Thursday night on "Emancipation." Sherman F. Chandler, formely a Richmond printer, who was sent to the penitentiary from Hamilton county for ehootin at Miss Bird Davis, now has friends interceding In his behalf for a pardon. The German Baptist Fire Insurance Company of Wayne, Farette and I'nion counties, with headquarters at Hagerstown. bgin to issue policies this week, with nearly $100,000 worth of property offered to bgm with. The Saturday Night Review, of Logi report, has suspended. The paper has lu 3 In existence lnce October. lOi. and has been devoted to society and literary matters. It was owned by Small Brothers, anl was generally considered a success. Rev. J. E. Cnthell. until recently re-tr of St. Paul's Episcopal Church at Richmond, is now at Marion. Ind., and until a rector Is called for the Gethsemtne Episcopal Church thero he will have charge. It is possible that he may himself be called to the rectorship. EQUAL TO SERFDOM COTTOTT GROWER? I'MIHR TIID YOKB OF GRASPING SPECULATORS. President Lnne Asks Southern Plan ters to Take Lp Arms and Free Themselves from Uondaite. ATHENS, Ala., Jan. 3 Hector D. Lar.e, president of the American Cotton Growers Protective Association, has issued aa address in which he says: "The time has arrived when next year's acreage in cotton should receive oar most serious consideration. Our enemies, tne cotton 'bears are anticipating matters by Industriously circulating reports that It is the intention of the cotton growers to enormously increase the cotton aervafie and double the use of commercial fertilizers ih coming Feason, which will result la tne production of a crop of from ten to twelve million bales. Information comes from Texas that New Orleans 'bears' are reporting that Texas will plant four million bales. Thee reports are circulated to Induce the Southern people to sell the remainder of the year's crop at the preeent low figures. According to official data America hes exported to Europe 1.223.UJ0 bales les than last year. The Northern mills 5iave taktn. 430,000 bales less than last year. Stocks of cotton at American ports anl interior towns are about the same as last year, bJt as the season progresses the stocks at the fiorts will dally grow less as compared with ast year. "On the other hand, the mills of America, England and the continent are running full time, and if they keep up me pit-sent consumption until next September they will need all of your cotton; they cannot wait for the next crop. What, then, prevents your obtaining remunerative prices for the remaining portion of this crop? This is easily answered. The speculative 'bears' of New Orleans, .New York and Liverpool. They are thoroughly Indifferent to yoir condition, and reckon little of your welfare. They would be glad to see cotton selling at 4 cents, anl would contribute fh'ir aid in pressing it down to the lowest point, regardless of the destitution and sorrow that would ensue throughout the South un der such conditions. The Southern planter nas tne power to depose those reckless des pots and wnolesale despoilers of our pros perity. Destroy the annual surplus, their able coadjutor, by a Judicious de-crease of acreage, and thee gentlemen will be out of a job. i'lant only a moderate crop, and you win be better off with a seven to a seven and a half million-bale crop, teillnir at 10 to 14 cents, than a ten-mill!on-oai crop selling at 6 to 6 cents. Da not be led Into the error that you can deceive trim great firms that buy your product. Thew have their agents in every town and village; they are scrutinizing your actions anl know more In regard to the ceneri acre age than you can possibly find out yourselves. "Conceiving this to be a matter of naramount importance to the material Interna of the South, and being impressed that thu question in its most comprehensive form snouid be considered gravely. I. therefore. deem It advisable tlat the cotton growers meet in convention, that we may formuata and adopt some Intelligent rule of action, through which we may be enabled to comDat these agencies, whose pernicious methods are so destructive to our pr.perlt On account of its gejeral accessibility.! hereby name Memphis as the nlace. and Tuesday, Jan. 2L a the time of meeting. I earneiiy invue an classes or our citizens that are directly or indirectly interested in protecting the values of our main commod ity, cotton, to 30m with us In our deliberations. The InvHat'on is extended to .ill a-. rlcultuml societies, alliances, sra-nes. cot ton exenanges, coaimiwion merchants. :.t tors, associations, etc. The movement n stnctiy nonponticai. but essentially Industrial; therefore, no man 6hould sav us n.ir on account of political affiliations. I respectfully invoke the aid of the pre.ss. Recognizing the demand for heroic rtion and the disaMer that s to follow without it, 1 appeai to an patriotic people to Join in this struggle to emancipate our people from a bondage that. Is as oppressive and igno minious as was ever Inflicted by the Czar upon a. serfdom. No longer can w iiv prosperously and happily under so tyran nical a system, ine demand of the occasion in for honest, earnest men. who hv the intelligence to appreciate Drevailir. conditions and the courage to 'take up arms' against a sea of trouble. nd hv re posing, end them." The Girl Swore Fnlsely. TRENTON. N. J.. Jan. 3.-Char!es Atkin son, convicted of havlnr criminally as saulted Marv illllpr y,a c n4tit,m, released from State prison to-day, after having served twenty months of his ten years' sentence. This was the result of the pardon granted yesterday bv the Board of Pardons on the strength of the girl's affidavit that she had sworn falsely on the trial. When r1rlr - - - .... vvn-ua vil ldlf UW are and ask for Huyler's. Purity and fiavor NATIONAL TubeWorks Wrct-Iroi Pipe for Gis( Steam and Wa!er. Holler Tube. Cxst and JCrble I ma Kiuin:rt(bla.-fc and riTniiei), i1t. stop k. Kngtn Trim mine Ketir CuKe, ft Tontx nj Cuttr. VUh. n. i rlatfi im D'm. Wrtn.K Stt-am Trips, pnrrpt. Kit. bfn Mni Hos. lit!np.ittttt MeuL Solder. Wkti ul 'Colore! wiping u( an other hur;titt uiwd ia eon'jenton uh U . lexm W&tr. Natural uu fcuppue a peciaJty. Mn htaiinf; Aprtu for luthe liulMtni, stort-rwmt, Mills, Mki.K actor I. La;drit. Lumber Dry-K on, etc. Cut axtl Tr.r?aJ to order any an Wroujjbt-tro ttp. from W tneii to It lix-bra diameter. XL'IGHT & JILLSOS, '.l and 11

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