Indiana State Sentinel, Volume 27, Number 32, Indianapolis, Marion County, 27 March 1878 — Page 7

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GENERAL TELEGRAMS. Full Text ef the Nutcment of the See retary of the Treaaitry Before the Sen FlBsarc CommiltM on the R Mnmptlen Act aud the Kilter BI1I "Wasiiisgtox, March 20. At the Interview of the committee on finance with the secretary of the treasury, in regard to the repeal of the resumption act, on the 10th insc, the chairman said: Mr. Secretary, I Lave jotted down a few general questions ard some in detail, which I propose to ask you, and I suppose that the . other members of the committee may have questions which they may desire to ak at a later period, but 1 will -ask some general questions in order that you may make a statement, if you choose, with more freedom than you can by going into the smaller details at the commencement. First Ought the. resumption act, in your opinion, be repealed? And if not, why not? Answer Secretary Shermeh That question, as you say, is very general, and it is rather a legislative than an executive question, but I have no objection to answeriDg. I thin. that the resumption act ought not to be ealed; that .it was a declaration of public policy, commenced with the act of February 6, repeated by congress several times, notably in IS), notably again in 1S(J!, and again by the passage of the resumption act, that we would as sooi' t. practicable redeem any United States noies which were presented for redemption in gold and silver coin. That is the declared public policy of this countrv. and it ought to be adhered to, and I am fully I cuuvinceu iuat we are aoie to wnat we nave so often promised to do and ought to do. Besides this several states have by their legisfaction indicated a purpose to so conform their lavs. Senator Bayard "Which states besides New York? Secretary Sherman "Well, Massachusetts," to some limited extent, but I don't know bow far and how many corporate and many individuals have madetheir contracts upon a basi3 of lesnmption. The whole country seems tohave settled down to the conviction that we can resume, and that business has adapted itself and contracts been made with that view. So far as any suffering from resumption or preparation for resumption is concerned, we have already suf. fered, and now to go backwards would be only to invite suffering again. It strikes me, therefore, that it is better to go ahead, and that to retrace the policy of resumption now would separate the metals from our currency, and one would have to o through tne same trouble egain It would e an evidence of national weakness: the struggle between metallic money as a basis of paper money and irredeemable paper money must be made some time. I think we had better complete it now. Therefore, I say, in regard to your question, although it is a legislative question tor you, pentlenien, to answer, and not for me, that I think we ought to adhere to the policy of resumption, and complete it. ' The Chairman Do you think resumption is practicable under the present law? You have partially anticipated tLat question, but still I ask it. Secretary Sherman That is a question yery much cf figures, and supposing that I would have to answer I have brought quite a number of documents here, which I will give you, and they will Epeak better than I can. The best evidence that we are able to resume on the 1st of January next i the progress that has already been made. When the resumption act passed the premium on gold was about 10 per cent. ; (ince that time it bas been reduced to a nominal rate. It is now a little over one. Since that time we have accumulated, In preparation for resumption, a large sum of gold. I have taken some pains to get the figures, which I will give you now. They are accurate, so that you may lave the exact condition of the treasury. This Is the statement of the treasury made je3tcrday: Treasury ok the Unitkd Btatfj, WASiiixoiox, March is. j Sir In accordance with your request I have the honor to state the amount in gold and silver in the treasury on the 23th ult., the date of the last debt statement, which is as follows, viz: Jold coin . f 117.15I.45 tiold boUion.. ....... ,,,, 7,9.'7,flJ0 Total ... ........ ..... ........ ... ......... . .. ... ljSijyU&j, 4 j5 Less the amount to credit of bishursing officer una outstanding cheeks .lN9,ii2ft OoldcertincaUs actually outstanding 44,4j,oho Called bonds and interest...... 0,lM,h77 Interest due and unpaids.;. 4Ml,7l6 Sfi2,416,509 t2,tS72,2l S,!72,X! 3,130,713 Available gold com and bullion ..... Available silver coin, fractional.. Available silver bullion.. Total available gold and sll veri. f7l,775,s Amount of gold com in treasury f 117,151,4.75 Amount of isold bullion 7,37,an) Making aggregate gold coin and gold bullion...... .112b,0S8,705 This is, however, subject to a deduction of the following items: First, outstanding checks to officers, $0,189,62. Although that is really money in the treasury, yet it is drawn for and not paid. The Chairman Itoesa't that always happen? Secretary Sherman It always happens that so rue j money is drawn cpon and not paid, and this item- is also large. Senator liayard You peak cf gold bullion. This is the property of individuals, is it not? Secretary Sherman All that is government property. Senator Bayard Where does the government get the gold bullion? ' Secretary Sherman First, we buy it or receive n on ueposu, or melt foreign coins into bullion and coin it as it is needed. We receive it just like gold coin, but not much of it in comparison with coin received. 2. Then there are coin certificates outstanding, $41,4'J8,5U0, for gold depoaited by banks and individuals. 3. Called .bondj and interest, $6,81S,C77. That amount is always large, and has reached $18,000,000. 4. Interest duo and unpaid, $4,909,705. That makes' $02,416,509 in gold subject to demand, or about one half of the supply on hand, leaving the available gold coin and bullion against which there is no demand or liability at $G2,C72,2P. Then there is silver fractional coin, $o.972,895; silver bullion, $3,130,718. I can say, though, if this statement was made up to date the silver bullion would be a good deal larger. We have bought lately the total available gold and silver over and above demand and liabilities, which is $71,775,8o0. Of items that . are counted hera and deducted from gold, about $20,000,000 are practically available for resumption, because the outstanding drafts and called bonds and interest due and unpaid, although due, yet the amount actually in the treasury is generally about the same. It is remarkable that so much money is left after it is due. The bonds that are due and not presented and the interest that is due for years are left in the government's custody without being drawn. Of the amount of gold certificates issued tbe law authorizes 20 per cent, more certificates to be issued than the amount of gold or gold bullion deposited, although that power has neveY been exercised, at least not within my recollection, not certainly within my terra. Senator Ferry You spoke of the $1 OihOOO of gold certificates. Is that about the annual outstanding average? Secretary Sherman No; it is more than the average. Senator Ferry What is the average for lo years back? Secretary Sherman Thirty to forty millions. The Chairman It is $34,000,000 or $35.000,000. 'Secretary Sherman The amount of gold now rn deposit is vry larj. For the reasons I have Muted the amount of g(-l I ar.d axlrer coin and bullion available for resump

THE INDIANA STATE SENTINEL, TTEDSTESDAY MORNING;

tion in a business sense Is about $90,000,000. but the actual gold and silver bullion and coin in the treasury, over and above all demand and liabilities, is $71,775,8(30. Senator Jones Could the amount of subsidiary coin which you speak of as being on hand be counted as In any way assisting resumption? Secretary Sherman I think so. because it is exchanged for United States notes or fractional currency, and can be paid out for current debts. Senator Jones I thought you could only exchange it for fractional currency?' Secretary Sherman Probably there is enough silver coin on hand to redeem all the balance of fractional currency. The Chairman That is, the secretary thinks eome fractional' currency has been lost. Secretary Sherman Now, in regard to anothei point pertinent to your question, we haye, in the process of preparation for resumption, reduced the volume of United States bonds and notes. The precise figures are familiar to you. The amount was $382,000,000 at the time of the passago ot the resumption act,- and the amount now is $34,61$,024. Again, the apiount of outstanding bank notes has been reduced. On December 31, 1875, the amount was $340,479,750; on December 31, 1S77, it was $321,072,505, aod on February 23, 1378. tbe amount of bank notes outstanding was $32l,9S9,991; but the amount of bank notes of bauks in existence not in process of liquidation was $299,540,475, .the difference between these two sums being the notes of banks in process of, liquidation. Although the notes are in circu'ation. yet an equal amount of greenbacks are in the treasury as a special deposit to redeem them. Senator Kernan They make part of the $34S,OUO,000 legal tender notes? Secretary Sherman Yes; as many of tbe legal tender notes are held in the treasury as there are bank notes in process of redemption. Senator Ferry Then really there should be but $299,000,000 of national banknotes outstanding. Secretary Sherman If you count the whole greenbacks as outstanding there would be $20!,000,000 national bank notes. TJien it must be remembered that United States notes have been in circulation since 1802. and bank notes since ISiit, and that large sums are lost or destroyed. This diminishes, to some extent the amount outstanding how much, I don't know. You can judge as well as I. A statement was here produced showing by months the issue of silver coin and the reduction of fractional currency under the act of April 19. 1876, from April 20, 176, to February 23. 1878, tbe amount of fra:tional enrrency redeemed being $24,318,039, and the total silver payments $38,479,308. The total amount of fractional currency notes outstanding on the 10th inst. was $17,109,715. The average monthly reduction of the outstanding fractional currency, estimated upon the basis of the' redemption of the past four months, is $290,000. Senator Jones How many millions, then, of legal tenders do you estimate as being in circulation now outside of what you hold to redeem the notes of banks in process of liquidation.? secretary Sherman I should think $320,OOO.OuO. Deducting those that have been lost or destroyed and those held for outstanking bank Dotes, make the aggregate of bank notes and greenbacks at about $643.000,000. To repeat the general result of our preparations for resumption, we have already practically abolished .he premium on gold; we have reduced the amount of United States notes and the amount of national bank notes outstuiding. AVe have paid off, practically, the fractional currency, and now we have a Very remarkable circumitmce in our tavor. The balance of trade is in .our favor to the amount of $100,000.000 a year," bringing silver and gold and bonds back to the United States. In the last three years the bulauceof trada in our favor is $414,031,(i3. I bring you th;3 statement because I thought you might deem it important to have the exact figures about the state of our trade. The table sbjwing the details 1 leave with you. To a number of questions aked Secretary Shermen replied: We have got both gold and siKer from England, but we must do It as Lincoln said.unbtknown to them. It must come by the natural currents of trade. To attempt to bring by any artificial movement a large sum of gold to this country would be to create alarm. All last summer and fall the accumulation was from $5,000,000 to $8,000,000 each month. Some of that canie from our own mines, and some of it from uiuwi, uut no accumulated ii witnout any possible injury to anybody. Now, in a general answer to your question, I do express my opinion officially and personally, that for the reasons I have given we can resume on the 1st of January next under the basis oi me existing law. The Chairman What effect has the silver bill had, or is likely to have, on resumpUUIl . Secretary Sherman I do not want to tread on delicate ground. In answering that question, Mr. Chairman, I shall have to confess that I have been mistaken myself as to the silver bill. I have watched its operation very closely. I think the silver bill bas had some adverse effects, and it has had some favorable effects on the questioa of resumption, perhaps. The best way for me to proceed would be to state the adverse effects first. It has undoubtedly Mopped refunding operations. Since the agitation of the silver question I have not been able largely to sell bonds, although I have made every effort to do so. Senator Jones At what date was the last bond sold? Secretary Sherman We are selling bonds all tne time. ' Senator Jones I mean the refunding of the bonds into 4 per cents. Secretary Sherman The ICth of October was the time when the last Of the popular loan was paid for. and we had then a call ready to issue $10,000,000, and associates, as they had a nght to do, withdrew the call. The sales from tne last of September; 1870, to the 15:h of October, were about $273,000,000. e told $200,000,000 4i per cents., and then we sold $75,000,000 in Vt per cent, bonds. Senator Allison About a year and eleven months. Secretary Sherman Since October last we haVe sold $4,000,000, and perhaps now the sajes have gone up to between $4,0o0,000and $0,000,000 of the four per cent, bonds. Now, another adverse effect the silver bill has had Is to stop the accumulation of coin. Since the. 1st of January we . have accumulated no coin except for coin certificates, except the baianee of revenue over expenditure, the revenues in coin being more than enough to pay the interest of the debt and coin liabilities. A oother effect that the silver bill has uau is io cause the return, of our bonds from Europe. Although the movement of our bonds in t us direction has been pretty steady for more than a year, It is latterly largtly increased, how much I am not prepared to say. On the other hand, I will give tbe favorable effects. . In the first place, the silver bill satisfied a strong public demand for bi metallic money, aad that demand is no doubt largely sectional. No doubt there is a difference of opinion between the west and south aad east on this subject, but the desire for the remohetizition of silver was almost universal. In a government like ours it is always good to obey the popular current, and that has been done, I think, by the passage of the silerbili. Kesuraption can be maintained more easily npon adouble standard than upon a single standard. The bulky character of silver would prevent payments in it, while gold, being more portable, would be nnjti fieely demmded.andl think r'.MiTiiptioii can be maintained with a less amount of silver than o gold alone. rtiTiator Bayard You are speaking of reuni:ioii upon a bsis of silver or silver aDd go !? SvcreUry Sherman Ye sir; I thlaklt can b maintained better upon a bi-mettllic or alteruativ standard than upon a single

one, and with less accumulation of gold. In this way the remonetization of silver would rather aid resumption. The bonds that have been returned from Europe have been readily absorbed, . . remarkably o. The recent returns in New York show the amount of bonds absorbed in this country is at least a million and a quarter a day. This shows the confidence of the people in our securities, and their rapid absorption will tend to check, the European scare. Senator Voorhees Thai shows, Mr Secretary, that this cry of alarm In New York was unfounded. Then this capital seeks our bonds when this bi-metalllc basis Is declared Z Secretary Sherman Yes, many circumstances favor this. The demand for bonds extends to the west and to the banks. I have no doubt we can sell 4J? per cent, bonds, and I think within a month we shall want for four per cent bonds to carry out the resumption law, for I would not accumulate more than $5,000,000 a month, and that largely in silver and gold bullion. There is no special necessity to force the bond market in order to maintain resumption. We now have 71 'to 91 millions on hanl, and. every one can measure how much more will be necessary to maintain resumption. If the sale of bonds was eyer so free I would not accommodate more than $5,000,000 a month of both metals, and ail sales beyond that should be applied for refunding six per cent, bonds. Senator Allison Do you think that you can add largely to the stock of coin by your process ot adding to your reserves $5,(0,000 per month that is to toy, will you accumulate from other countries, or simply draw into the treasury the accumulations already existing in our own country? Secretary Sherman I am glad you mentioned that point, although, since the 1st of January last, we have accumulated no coin in the treasury. The amount that we had prior to that accumulated per month bas since then gone into banks. The banks have already accumulated more than $5,000,000 in gold since the 1st of January. Senator Morrill They have increased their reserve by the amount ot $5,000,000 in gold

per month. Secretary Sherman Here is a statement which shows the aggregate amount of specie held by the banks of the United States during the several periods therein mentioned. Now in the United States there has been no statements of national banks since December last, but they have in the city of New York a weekly statement of the clearing house. Thjs shows the amount at the beginning of every week. On January 5, 1878, the amount was $21,884,100. That has increased in amount until March 16, 1S7S, when it reached $31,557,000, a difference of about $13,000,000, which is just about $5,000,000 per month increase; so that this accumulation of coin has gone on in thebanks since it stopped in the treasury. Senator Ferry Then if you embrace the accumulation in the banks and the treasury it has been progressing gradually at the rate of about five millions per month? Secretary Sherman Yes, sir, more than that. In New York alone, the accummulation is five millions per month, but at Doston and Philadelphia it is also going on. tenator Ferry What in your jidgment is the accumulation In both the banks and treasury per month in amount? . Secretary Sberraan I should think it to be between $5,000,000 and $10,000,000 per month. In giving an answer to Mr. Morrill's questioa as to the genuine effect of the silver bill I would not like to give a positive opinion. I do not think, taking it altogether, it is an obstacle in the way of resumption. It has operated in some respscts adversely, in some respects favorably, but on the whole I do not think it should discourage us from resumption, or from carrying out our general policy. Senator Jones Then in its effect upon tbe return of the vast amount of bonds yoa refer to would there not be an element of strength added in favor of resumption, in that the interest on the bonds returned would not be a constant drain upon the country? , Secretary Sherman Undoubtedly. Senator Jones Would the fact that they came back enable us to maintain resumption much easier? Secretary Sherman Undoubtedly. The fact that we have paid $514,000,090. of the debts in foreign countries is favorable. There is another point in this connection, it seems to me, that it is not necessary to determine this question now, because a sufficient time has not elapsed to enable us to determine the effect of the silver bill, and you bad better let things run along and see its effect. It may be that its effect will be such that all will favor resumption, and that resumption will come without effort The passage of this bill can have no effect until January next, and 't may be before that time all will agree that it ought or ought not be repealed. As you have this measure in the senate you can control it by a majority vote cf the senate at any time. Why not let it stay here? Senator Voorhees Did I understand you to say that you would undertake to maintain resumption with ninety millions of coin reserve? Secretary Sherman No, sir. I would undertake to resume upon the power afforded by the present law, by going on and doing what I did last summer. Senator Voorhees How much surplus did you say you had on hand? Secretary Sherman I have now $71,000.000. ' ' Senator Voorhees Then you say that you would be willing to undertake resumption under the existing laws by the 1st of next January. .Now, with the - aid of the Bilver bill and coinage, what amount of coin would you expect to have on hand with which to undertake resumption at that time? Secretary Sherman I would accumulate about $5,000,000 per month of both metals from the 1st of April to the 1st of January, which would be 45 000,000, and if the market is favorable I think I would try to make good the loss that I have suffered by not accumulating in January, February and March of the present year, I think I could in this way accumulate fifty or sixty millions. Senator Voorhees That would give you $150,000,000. J Secretary Sherman No, not so much; ner do I think it is necessary to have so much. Senator Jones And does that look to eliminating the legal tender function on the 1st of January next? Secretary Sherman No, I think not, sir. I am in favor of maintaining tbe legal tender currency, but that is in controversy. . Senator Kernan You thought that you could practically redeem all that would be presented. Secretary Sherman I have no doubt of my power to reissue up to $300,000,000 legal tenders. . Senator Jones I have an idea that it would make a great deal of difference. Senator Voorhees Have you spoken of the capacity of the present coinage? Secretary Sherman No, sir. Senator Ferry Then on the question of resumption your views are that, with $90,000,000 on hand and tbe accumuiulation of $60,000,000 more, or even $40,000,000 (it would bo $130,000,000), you would be - will ing to commence the resumption " of the present volume of currency, both national and bank? Secretary Sherman Oh, yes; the banks must look out for themselves. Senator Morrill I wfll then ask you this question, How can the policy of resumption be aided by congress? Secretary Sherman I am very willing fo answer that question, although I think it is a legislative q.iestion. I think that you can aid resumption very much if you will allow me to receive Unite! Siates notes in piynient of bonds, as the senate has already expressed a willingness to do, and if the housa would concur with thfm. If I could sell four per cent bonds for currency

in iev Phase for six per cent, bonds it nuum oe an aid to resumption. Senator Bayard What would vou do with, the proceeds of the sals of these bonds? Secretary Sherman I would use them in purchase of outstanding bonds. All I would have to do would be to pay the difference between greenbacks and gold, but thatwouM bo only paying one ner cent, nreminm T have a right to call in bonds, and I could nse currency in their paynfent by giving $101 for the bond in currency, the difference between currency and gold at the present time. ' Senator Bayard "ou can sell your 4 per cent bonds at par in currency and you can nse tbe-currenry and i-edeem a higher rate of bond. Senator Jones How would that aid resumption? Secretary Sherman By repealing discrimination that is now made against the- legal tender note in the payment of bonds. The bond issued would be a coin bond. A large number of questions were asked byseyeral members of the committee, and the secretary in the course of his answers said there was one thing he would recommend, namely: lie would on the 1st of Octobea next receive United States notes in payment for duties, and yet provide for the interest on the bonds in coin. In other words he would assume on the 1st of October next that our notts were as good as gold ' and silver, and would receive them as such. You gentlemen will feel your way clear to allow my receiving United States notes in payment of bonds, and will make it clear that I will not be compelled to take all United States that come in after the 1st of January next and if you think, under the circumstances, I would be strong enough to receive these notes on the 1st of October, I should ba willing to guarantee the resumption. I think for the United States to go backward over all of this long, weary agony and strnggle toward resumption would be a sign of national weakness, and do the nation harm, do our credit harm and bring injury upon us all. The Chairman What effect would a re- J peal os the resumption act have upon the relations of currency, legal tenders, and on coin, gold and silver? Would not a repeal of the resumption act cause a fall of paper : below gold aud silver?Secretary Sherman I have no donbt of that I think a repeal of the resumption act would at once cause a widening between coin and paper money, depending entirely upon the confidence the people at large would have in tbe ultimate redemption of paper; but I don't want to enter upon this delicate ground. Among other questions asked was the following by Senator Ferrv: "You state that with $1 19,000,000 gold reserve, you would be willing to hold $300,000,000 as part of the currency, and meet resumption on that basis. Now I desire to ask if, with the contraction as it is going on, it would be any obstacle to resumption even if the outstanding circulation should he $320,000,000 on the 1st of January next?" Secretary Sherman I think the $20,000,000 would be provided, for by the increase of bank notes. Senator Ferry Without any direct further ' contraction than 'under the present resumption act j secretary Sherman The present resump tion act would be sufficient I would not j by myself provide for and direct the coni traction of currency except what is done under the act I The chairman Don't you believe there I will b an expansion come upon us naturally. or by the action of the treasury depart ment on the 1st or January will there not bo more mouey in actual circulation after that period? Secretary Sherman I think and hope so. Senator Ferry Would not that produce a healthier condition! Secretary Saerman No. sir! Senator Bayard What would be the effect in your opinion, if the declaration that 300, 000,000 of treasury notes miht bo issued as a minimum and as a maximum, to be sui ported by a rentation by law of $100,000,010 oi pom in ine treasury Secretary Sherman That would be bene fioia!, because I think the fear about tha $300,000,000 would te overcome. Senator Kennan And your opinion that the authority to re-issue legal tender notes saould he expressly given by law. oenaior oaerman i mint that the U thonty to reissue unquestioned .and undoubted would take away the fears o an classes or people, first those in iavor or innauon, who do not want greenbacks destryed, then in the eastern states where they think we ought to retire greenbacks and issue bank notes instead. belieA e that we are bound under the existing law to pay the whole oi the $300,000,000, and that we are not prepared to do.Senator All ison I n other words, you think we can notcome to and maintain specie pay menta without the power to resume? Secretary Sherman I do not think we can. TELEO RA 111 IC Rl'HMARV. Vepnesdat, March 29. Itu3sian vessels are anchored off St. Stefana. Cleveland, night. Ohio, had a $22.3,000 fire toGeneral Rome. flrant and party have arrived a It la rumored In London that Russia will yield on the point now at issue. baivet rasaa has declined going to the congress. efyker JIusuraa Tasha will go. Sixteen batterlei of Turkish artillery have occupied Letros, Uarghos and Sweetwaters, near ionstanunopie. Th? pope at the next consistory will complete Cardinal McCloskey's investition by iormaijy coniernug ine nat. rrlnce 'Bismarck, ia tired of Nicaragua shutning, and has determined to order a blockade of Xicaraguan porta. Bertha Van Hillern completed her task of walking iuo miles in 2S hours at Cincinnati, with 7 minutet and 42 eeconda to spare. George Loyter, anoiher member of the Chicago coin counterfeiting gang was arrested in that city to day. It is rumored, sojsays a dispatch from Fera, that the British government has decided to resist Russian annexation in Asia Minor. The Danville, Haz'eton and Wilkesbarre railroad, Bold here to-day under a foreclosure, was bought by the bondholders for f 400,000. The house committee on coinage, weights and measures agreed to report Maish'a bill punishing the dt facers of gold and silver coin. The general meeting of the American Social Science association will be held next month at Masonic hall, Cincinnati. Several papers of importance will be read and discussed. The United States attorney general bas decided that coupons of United States bonds, when detached and defctroyed can not be paid under the terms of section 3,902 of- the revised statutes. A Y'enoa correspondent, in summandn the official text of the treaty, says it is nearly the same a; already telegraphed. There are some few differences, but they amount to but little. There Is ereat excitement at Butler Ford. .the capital of Northwest territory, over a new rumor of a combination of Sitting Bull with the Sionx, Blackfeet and other Indians for an attack on the settlements in the spring. The steamer St Taal arrived at San Francisco to-day from Honolulu, bringing as passengers John O. Domini, governor cf Oahu; IrincAss.L'liaoaklani, heir apparent to tbe Hawaiian throne, and William F. Allen, collector general of customs, Honolulu.

MAItCH 27, 18.78.

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Five irons on one handle and each Iron complete in Itself, with Its adjustments so simple that a child can adjust them. We wnt a rents in every county in the Union to sell this' beautiful, useful and saleable article, to whom exclusive agencies will be given FREE, affording an unsurpassed opportunity to make money. Send postal card for circulars and terms. We will send sample Irons to test, comp:ete with starcn, receipt, order boolt, circulars, large posters, etc., on receipt of tlu remarkable low price of 52.50. Dout fail to send for samples. We guarantee you will be delizhted with It. Addrewi HOME IKON CO , Box 900 Pittsburg, Pa. $200,000 Worth of GOLD PLATED JEWELRY. ForOXE DOLL 4 It we will send s below, all Wnrrsnteil ttotd Jlatel: 1 Pair Gold IStone Sleeve Buttons; 1 Pair Kngraved Sleeve Buttons; 1 set Pointed Studs; 1 tSet Amethyst Studs; 1 Wedding Ring; 1 Engraved hand Finger RIng:J Amethyst Moue Ring; 1 Elegant Ring, marked Friendship:" 1 Handsome Hcarf Pin; 1 Splendid Silver Hat Pin; 1 set Ladies' Jet aud Gold Pin and Drops; 1 Misses' set. Jet and Gold ; 1 Ladies' Jet Set, Ornamented:! wt Handsome Romebud Ear drops; 1 Gents' Elogmt Lak- George Diamond stud; l cardinal Kod Bead .Necklace; 1 Pair Ladies' Pearl Ea Drops-;l Ladies Ornamented ,T't Brooch: 1 Fancy Scurf Ring and Elegant Watch Chain. Take yourjrhoice, the entire lot of 20 irec tent jtost-jxtidur HI. or any 8 jrieect you cfutow for SO rrw. Club premium Any one sending us a club of twelve at one dollar, we Will send a t oln Silver W itch Free. F. STOCKMAN, 27 Bond St., New York. Dr. JAMES, . Loch Hospital, 204 Washington St, Cor FrankliD, CHICAGO. I hirterrd by the Stale el Drofeoaiua tat .ibf pan tbim jeara. Am expartear are all inporIt. Srailaal DnklM. BUht kiaaea br dreama. ntm. plea on tha (aoe, toot maaheod. oaa paitlrHr ba eared. Ladie waatiaf the mnH delicate attmttoa. rail or write, rteafttnt bam for patianta. A bonk tor the million llarriam Guide which tell, yoa all abeat theae diaeaaes wbe eboald mamj, why But. 10 eente te par ponac. Dr. Jinn haa aftT roal aad partnra. Yoa aee ao aae but the T)onr. Offtee anure. a. aa. to I p.ai.; Sundaj, 10 tell. Dr. Jamei ll 60 jean of ue. "T" IEBIG'S Fever and Ague Cure In liquid o 1J pills. Positively curt s any kind of ague either first, second, third t r seventh day ague and keeps It off If taken according to directions. Cures sick hesuacke. neuraitcia. female debility and the liver, strengthens the blood and 6tomach, brings into harmony nature's laws of health. Warrants to do good or the money refunded. If your druggist don't get it for VOU send tha nmnrltiiri JV11 nsnta or f 1 anrt get U tree. Sold by druggists. PERSUING A CO., proprietors, Plymouth, Indiana. Agents wanted everywhere. Jull7-3m NOTICE OF VACATION. To John II. Vajen, J.C.rnd'C. E.Gelsendorf and all others concerned: "r0TICE Is HEREBY GIVEN that I have i have filed in the off ce of the clerk of tha city of Indianapolis, Indiana, a petition for tne vacation of all the streets and alleys rn Metcalf & Cooke's subdivision of lot 2. 3. V 5 and 6 of W.F.II &. Almlrla D. Brooks' addition to the city of Indianapolis. Mai ion countv. state of Indiana, and thai the ?ame will bo presented at their regular nv ting on Monday even log, April 15. lfwt,or soou thereafter as tne same can be nerd. . .I . JACOB W.IIOAGLASD. Indianapolis, Marca 6, u78.

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H0TICE OF SALE MNDS MORTGAGED -TO THE COLLEGE FUND. ch Jereby given that the following described lands and lote.or so much of each tract parce or lot, as may be necessary, will be offered at public sale to the highest bidder, at the cowi bonse door, In the city ot Indlanapoor sold on a credit, on account of the College! Fund, and forfeited by non-payment of interest due It: ,5; Th e.Mt hal'of the south west quarter of section 5 In township 15, north of ranee 7 east, containing elshty acres more oriels In Hancock county Indiana. Mortgaged by Harry Pierson and KeUy Plerson, his wife; principal, JijO.W; Interest, f2S00; damages, Scosts, S12.C0. Total, i". ?foT.1.1- Commencing at the northwest cor 8ecnre me rtuvmonr n ner or me west nan or the southwest quarter of section 2, in township 13, north of ran-e 6 east, running thence soith eJgtity poles to th center of the iilutl road, thence eMtwUh nil! road to a cherry tree, thence north to the nortbi l.n1.'1 1,uarer section, thence west to the place of beginning, containing twentv-threa acres and fifty-three poles, inWlby countt Mortgaged by Thomas J. Norvell and Ibby .orvell principal. $1U0.0m; interest, $3.30: damI tow,nsn,p 7 north of rail?e W east, containIng 160 acres; 111. so the RnnthwMt r . i norm west Quarter or RMtinn k i.. .. . north ot ramie 10 east, containing ji o.. ..J sixty-one one hundredths acres, all In Ripley county, Indiana. Mortgaged by Sarah A Vailprincipal 74.i0; Interest. .W; dam' i.CT;t-osU,12.00. Total, 8786.27. R ' A .CM The east halt of the southwest quarF -L8e?tlon.3, in tonsbiP 15, north of range l-'Jt "fnc" county. Mortgaged tor Lewis bebastiau.Jr.,and llen E. f&bastlari It princtal, fouo.iw; Interest, 46.6i; damages! S27.33; costs, f 12.00. Total, f.j85J8. 8 . SV.7: Eight acres and eightyix hundredths of an acre off the south eud of the west half of the northwest quarter of section 19. in, township lo. range 4. east, in Marion county. Mortgaged by Cornelius W. Van Houlenpriucipal, f-MLOO; Interest, .2.00: damagee! J19.W; costs, fl2.U0. Total, 123.0. amaw. o. 797. The undivided one-half of the following described lands, vis: The east half of the southwest quarter, and the southwest quarter of the northwest quarter of section $1. township 13, north of range 7 west, containing In all one hundred and twenty acres, more or Cif if it nnmhAi one hundred and twenty-one, In the original plat to the city of Lafayette, Indiana, excent twenty-two feet off of the et end of said west half, herel of ore conveyed to the city of Lafaf Vv i ."v." jyPru J nd recorded in Deed Record o. 3j, on pages 290 and 291 In county. iimiana. ndiana. Mortgaged bv Jav Mir Xt n! nol $.")0.jo; interest, JS7.00; damages, cost! 12 00. Total, Jt&S.iio. cosis, KO.H03. The southwestquarterofthenortheast quarter ot section 22, township 11, nortli of range one east, containing 4 j acres, in Morgan county. Mortgaged by Benjamin F. Riley and Elizabeth J. Riley, h.s wife. Principal. irvorair-001 daraagw c Xo. All of lot No. 5 m Famnel Merrill's subdivision of outlot number one hundred and four, in the ritv of Indiananr.iu tr.HiQr,o Mortgaged by John W. Broigh and Sarah E. Brongh. Priuct pal, 8.500 00; lnterest.nu.U:damt ages, $!.20; costs. 1 12: 0; total, S.562.20. X.hS7. Lots "R" and -S"in James M. Ray'g subdivision of the south and east parts of ontlo 'uimlKM- one hundred and fifty-nine. In the city of Indianapolis, Indiana. Also the undlvided seven-eighteenths o. the following described tract of land, viz: beginning ' at tha southeast corner of the northeast quarter ot section No 7, m township No. 15, nortn of range No. 4 east; running thence north seven chains and I'D links to the Michigan roadthence north seventy and ?4' degrees west with the south side of said road two chains and 65 links: thence south, and parallel with the section line, eight chains and 0 links; thence east two chains and 49 links, to the place ot beginning, containing two acres, in Marion, county. Mortgaged by David H. Chaise and Sarah Ann Chaise. Piincipal, IGOO.OO; Interest. WU damages' f27-27 costs flWXJ; total, ..sTsVPart of Iot 3 ln the subdivision by Elizabeth Frazer of the u)nthM,tnn.rf.. ! outlot numbtr 3 in the citvof indfannnoH Indian-, and described aa follows, to-wit Beginning at the southeast corner of Bald lot No 3 on North street, and running thence noith 8 feet to a point in the east line of said lot No. 3, t hence west 30 feet to a point In the east line of the 9 loot alley on the west side of said lot: thence south and parallel to the first line 8 feet to a point in the south line of said lot on North street, and thence eaat 30 feet to the place of beginning. Mortgaged by Narclssa Cook. Priucipal, $'W.W; interest, 151.50: damage. $27.57; costs, f 12.00: total, S591.07. o77. The northeast quarter of the southwest quarter of section 10 In township 12, north, of range 2 east, containing 40 acres, more or l'X1 MorSa, county. Mortgaged bv Oeorgo Pietlet. an? Naney K. Pettet. Principal. f.y.i; interest, 57:1.00; damages, $J8.e5; costa f 12.00; total. W-3.fi Jio. 99. The tort heast quarter of the southeast quarter of section No. 2 township 30. north of range 7 west, in Jasper county. Mortsaged by David H. Yeoman and Emma E. Yeoman, his wife. Principal, looo.n); interest, ?.)0.W); damages, $27.50; costs, 112.00; total. fa'fl'.jO. ' A o. I,n 0. Twenty acresoffnorlh end of the north quarter of the northeast quarter of section No. 3, township No. 12, north range one east, In Morgan county. Mortgaged by Abraham tstlpp and Nancv Stlpp, his wife. Principal, U00; Interest, H1.O0; damages. 820.55costs, 812.00; total, fotiOi ' 'u-ao I. 1,0 1 i. The northwest quarter of tha southeast quarter and the southeast of the. southeast quarter of section 6, township 10 north of range 4 east, in Brown connty. MortI gaged by Conrad J. Kiskey and Rebecca Kikey. bis wife. Principal, tVtfO.OO: Interest iSj; ilamsges. f 19.44; co,ta, 12;; totl 120.2S! No. 1,047. Lots numbered 32. 33, 34 and 35 in John O. W ebb '8 subdivision of lots numbered 13. 15 and 1 in Hanwav ami it HUH suburb to the citv of IndiananVia in. diona, in Marion county. Mortgaged by Elizabeth Halney. Principal. t.'jOO.OO; interest, fo2x0: damages. 127.60; costs, 12.00: total, foi1.60. . 1.030. Lot No. 2 in J. M. Myer's resubdivision of lota numbered 56. 57. SK and ut in Drake and May hew 's second addition to the cityof Indianapolis, Marlon county, Indiana. Mortgaged by James M. Myers and Mary ii. Myers. . Principal, RjoojKl; interest, 150.50: damages, K7J52; costs. f 12.00; foul, 9.92. Ktt.1.098. Lot No. 4 in John Young's first addition to University place In the town of Irvington, as laid out on the recorder's plat of same, being 60 feet front on National avenue by 1S4 feet deep to an alley, in Marion county. Indiana. Mortgaged by Aunie. c. Young. Principal, 1200.00; interest, J12.8J; damages. 110.64; costa, tl2.C0. Total, fi.44. ' The above described lands and lots will b first offered for cah. 8hoald there be no bid they will be Immediately offered on a credit of five years, with Interest at the rate, of seven percent, per annnm payable ln advance, but In neither case will any bid be taken for a sale, less than the principal, interest and cost dne as above stated, together with five per cent, damages on amount of sale. Sixty days are allowed the original mortgager or his legal representatives for redemption upon payment to the purchaser of such dam sees aaare fixed bylaw. E. HENDERSON, n , " Auditor of fctate. Office of Auditor of State, Indianapolis, Ind., Februry 15, 187S. V THE VERY BEST THRESHING ENGINE In the United States Is that made by SINKER, DAVIS & CO., Indianapolis, Ind, This Is an old etbjlshd Ii .nv-, and baa been In successful operation for more than quarter of a centcry. Wf Write to thorn for rlicuiar. and av mhi aw this notice ln the Weekly Indiana Kuta KeulliieL

, iiuitobuu rjiiautm wnne. nls wife princijl, SW00O; Interest, I3J0: damaees 22.16; costs, S12.IK). Total, tih.U. ' 0ma8es

A o. 799. All of the west half