People's Pilot, Volume 3, Number 8, Rensselaer, Jasper County, 11 August 1893 — Page 2

THE MESSAGE.

President Cleveland Discusses the Financial Problem. .Attribute* Panic to Congressional Silver Legislation —Recommends Repeal of Purchasing Clause. THE PRESIDENT’S VIEWS. To the Congbess of the United States: j The existence of an alarming and extraordinary business situation, involving the welfare and prosperity of all our people, has constrained me to call together in extra session the people’s representatives in congress, to the end that, through a wise and patriotic exercise of the legislative duty with which they solely are charged, present evils may be mitigated and dangers threatening the future may be averted. The Unfortunate Financial Plight. Our unfortunate financial plight is not the result of untoward events nor •of conditions related to our natural resources; nor is it traceable to any of The afflictions which frequently check national growth and prosperity. With plenteous crops, with abundant promise of remunerative production and manufacture, with unusual invitation to safe investment and with satisfactory assurance to business enterprise, suddenly financial distrust And fear have sprung up on every side. Numerous moneyed institutions have suspended because abundant Assets were not immediately available to meet the demands of frightened depositors. Surviving corporations and Individuals are content to keep in hand the money they are usually anxious to loan, and those engaged in legitimate business are surprised to find that the securities they offer for loans, though heretofore satisfactory, are no longer Accepted. Values supposed to be fixed are fast becoming conjectural, and loss 'And failure have invaded every branch -of business. Attributed to Congressional Legislation. I believe these things are principally chargeable to congressional legislation touching the purchase and coinage of tdlver by the general government. This legislation is embodied in a statute passed on the 14th day of July, 1890, which was the culmination of much Agitation on the subject involved, and which may be considered a truce, after a long struggle, between the advocates of free silver coinage aud those intending to be more conservative. Silver Depreciation. Undoubtedly the monthly purchases by the government of 4,500,000 ounces of silver, enforced under that statute, were regarded by those interested in silver/production as a certain guaranty •of its increase in price. The result, ’.however, has. been entirely different, for, immediately following a spasmodic And slight rise, the price of silver began to fall after the passage of the act and has since reached the lowest point ever known. This disappointing result has led to renewed and persistent effort in the direction of free silver coinage. Future Results. Meanwhile, not only are the evil effects of the operation of the present law constantly accumulating, but the result to which its execution must inevitably lead is becoming palpable to all who give the least heed. Jo financial subjects. This law provide* riiat in payment for the 4,500,000 ounces’ofifjlver bullion, which the secretary qf r -|jie treasury is commanded to purcnase monthly, there shall be issued treasury notes redeemable on demand in gold or silver coin, at the discretion of the secretary of the treasury, and that said v notes may be reissued. Parity Between Gold and Sliver. It is, however, declared in the act to be “the established policy of the United States to maintain the two metals on a parity with each other upon the present legal ratio, or such ratio as may be provided by law.” This declaration so the action of the secretary of 4he treasury as to prevent his exercising the discretion nominally vested in him, if by such action the parity between gold and silver may be disturbed. Manifestly a refusal by t.ne secretary to pay these treasury notes in gold, if demanded, would necessarily result in their discredit and depreciation as obligations payable only in silver, and would destroy the parity between the 1 two metals by establishing a discrimination m favor of gold. Redemption in Gold.

"Up to the fifteenth day of July, 1893, these notes had been issued in payment of silver bullion purchases, to the amount of man. than one hundred a>nd forty-seven m-.: i ions of dollars. While all hut a very sma) 1 quantity of this bullion remains uncoined and without usefulness in the treasury, many of the notes 3jjiven in its purchase have been paid in 3?olcL This is illustrated by the statement that between the first day of May, 1892, and the fifteenth day of July, 1893, 4he notes of this kind issued in payfor silver bullion, amounted to a little more than silty-sour millions of --dollars, and that during the same period about forty-nine millions of dollars were naid by the treasury in gold for the redemption of such notes. Gold Depletion. The policy necessarily adopted of paying these notes in gold has not spared the gold reserve of $100,000,000 long ago aet aside by the government for the re--demption of other notes, for this fund already been subjected to the payment of Hefv obligations amounting to - sboat SISO, on account of bilver purchases, and has, as a consequence, for the first time since its creation been encroached upon. We have thus made the depletion of oor golt easy and have tempted other and moi t appreciative nations to add Uto their stock. That the opportunity we have offered has not been neglected vln shown by the large amounts of gold which have been recently drawn from our treasury and exported to increase the financial strength of foreign nations. The excess of exports of gold ■over its imports for the year ending amounted to more than

Hftween the Ist day of July, 1890, and the 15th day of July, 1893. the old coin and bullion in our treasury decreased more than 5130,000,090, while during the same period the silver coin and bullion in the treasury increased more than $147,000,000. Unless government bonds are to be constantly issued and sold to replenish our exhausted gold, on ly to be again exhausted, it is apparent that the operation of the silver purchase law now in force leads in the direction of the entire substitution of silver for the gold in the government treasury, and that this must be followed by the payment of all government obligations in depreciated silver. Mast Part Company. At this stage gold and silver must part company and the government must fail in its established policy-U> maintain the two metals on a parfty with each other. Given over to the exclusive use of a currency greatly depreciated according to the standard of the commercial world, we could no longer claim a place among nations of the first class, nor could our government claim a performance of its obligation, so far as such au obligation has been imposed upon it, to provide for the use of the people the best and safest money. The Flat Question. If, as many of its friends claim, silver ought to occupy a larger place in our currency and the currency of the world thrsugh general international cooperation and agreement, it is obvious that the United States will not be in a position to gain a hearing in favor of such an arrangement so long as we are willing to continue our attempt to accomplish the result single handed. The knowledge in business circles among our own people that our government cannot make its fiat equivalent to intrinsic, value, nor keep inferior money on a parity with superior money by its own independent efforts, has resulted in such a lack of confidence at home in the stability of currency values that capital refuses its aid to new enterprises, while millions are actually withdrawn from the channels of irade and commerce to beeorne idle and unproductive in the hands of timid owners. Foreign investors, equally alert, not only decline to purchase American securities, but make haste to sacrifice those which they already have. A Menace Not to Be Disregarded. It does not meet the situation to say that apprehension in regard to the future of our finances is groundless and that there is no reason for lack of confidence in the purposes or power of the government in the premises. The very existence of this apprehension and lack of confidence, however caused, is a menace whieh ought not for a moment to be disregarded. Possibly, if the undertaking we have in hand were the maintenance of a specific known quantity of silver at a parity with gold, our ability to do so might be estimated and gauged, and perhaps, in view of our unparalleled growth and resources, might be favorably passed upon. But when our avowed endeavor is to maintain such parity in regard to an amount of silver increasing at the rate of $50,000,000 ! yearly, with no fixed termination to such increase, it can hardly be said that a problem is presented whose solution is free from doubt. A Sound and Stable Currency. The people of the United States are entitled to a sound and stable currency and to money recognized as such on every exchange and in every market of the world. Their government has no right to injure them by financial experiments opposed to the policy and practice of other civilized states, nor is it justified in permitting an exaggerated and unreasonable reliance on our national strength and ability to jeopardize the soundness of the people’s money.

Above Party Politics. This matter rises above the plane of party polities. It vitally concerns every business and calling and enters every household iu the land. There is one important aspect of the subject which especially should never be overlooked. At times like the present, when the evils of unsound finance threaten us, the speculator may anticipate a harvest gathered from the misfortune of others, the capitalist may protect himself by hoarding or may even find profit in the fluctuation of values; but the wage-earner—the first to be injured by a depreciated currency and to receive the benefit of its correction—is practically defenseless. He relies for work upon the ventures of confident and contented capital. This failing him, his condition is without alleviation, for he can neither prey on the misfortunes of others, nor hoard his labor.

The Greatest Sufferer. One of the greatest statesmen our country has known, speaking more than fifty years ago when a derangement of the currency had caused commercial distress, said: “The very man of all others who has the deepest interest in a sound currency, and who suffers most by mischievous legislation in money matters, is the man who earns his daily bread by his daily toil.” These words are as pertinent now as on the day they were uttered, and ought to impressively remind us that a failure in the discharge of our duty at this time must especially injure those of our countrymen who labor, and who because of their number and condition are entitled to the most watchful care of their government. Importance of immediate Relief. It is of the utmost importance that such relief as congress can afford in the existing situation be afforded at once. The maxim: “He gives twice who gives quickly,” is directly applicable. It may be true that the embarrassments from which the business of the country is suffering arise as much from evils apprehended as from those actually existing. We may hope, too, that calm counsels will prevail and that neither the capitalists nor the wageearners will give way to unreasoning panic and sacrifice their property or their interest under the influence of exaggerated fears. Nevertheless, every day’s delay in removing one of the plain and principal causes of the pres-

ent st te of things enlarges the mischief already done and increases the. responsibility of the government for its existence. Whatever else the people have a right to expect from congress they may certainly demand that legislation. condemned by the ordeal of three years’ disastrous experience shall be removed from the statute books as soon as their representatives can legitimately deal with it. Tariff Reform in the Near Future. It was my purpose to summon congress in special session early in the coming September that we might enter promptly upon the work of tariff reform, which the true interests of the country clearly demand, which so large a majority of the people, as shown by their suffrages, desire and expect, and to the accomplishment of which every effort of the present administration is pledged. But while tariff reform has lost nothing of its immediate and permanent importance, and must in the hear future engage the attention of congress, it has seemed to me that the financial condition of the country should at once, and before all other subjects, be considered by your honorable body. Prompt Repeal Recommended. I earnestly recommend the prompt repeal of the provisions of the act passed July 14, 1890, authorizing the purchase of silver bullion, and that other legislative action may put beyond all doubt or mistake the intention and ability of the government to fulfill its pecuniary obligations in money universally recognized by all civilized countries. (Signed) Grover Cleveland. Executive Mansion, Aug. 7, 1893.

THEY LACK HOMOGENEITY.

How the Growth of Our American Cities Is Greatly Curbed. , The great trouble with American municipal government, writes Barr Ferree in the Engineering Magazine, is the lack of homogeneity in the growth of great cities. Each city starts out independently and on a better plan than any other, and yet with very little thought of profiting by the experiences of older ones. American politicians are apt to plume themselves on the advances they have made in their own departments, and some even go so far as to point with pride to the growth of their particular city. Yet with all our boasted progress the fact remains that the best governed cities, the most ablj* developed and thoroughly broadened municipalities are the old cities of the new world, in which the necessity for new growth and complete change from the old have been so wholly recognized as to compel the introduction of a new order of affairs. Nothing of the sort is to be seen in even the most active communities in America. New Ydrk cannot annex other districts because local politicians interpose objections which have no foundation save the‘r own selfishness. Boston is hemmed in with so-called rival municipalities that hug their civil privileges and imagined independence with absurd pretensions of might and power. Philadelphia has, in truth, added vastly to her territory and stands quite distinct among seaboard cities m this respect, but she is wanting in the metropolitan spirit and capability of development which alone would make this increase of territory valuable. In the west a different feeling may be noted, and this, as well as their more rapid rate of increase, tends to make our western cities more prosperous, as well as more modern, than our eastern.

TO THE POINT.

A Two-Hour Argument Killed by a Shrewd Lawyer in Two Sentences. The prosecuting attorney in the circuit court of an Illinois county some years ago was a lawyer whose early education had been defective, but who was so shrewd and “long-headed” that few more dangerous antagonists could be found at the bar at that region. At one time, says the Youth's Companion. he had procured the indictment of a well-known scamp for theft. The amount alleged to have been stolen was five dollars, and at that time the penalty for stealing five dollars or more was imprisonment at hard labor in the penitentiary. For stealing less than that the punishment was confinement in the county jail without labor. The evidence proved beyond dispute the stealing of a five-dollar bill of the State bank of Illinois, but the prisoner's counsel brought several business men to swear that it was not worth its face in gold; but all agreed that in ordinary transactions it would pass for five dollars. Over this testimony the prisoner’s counsel quibbled for two hours, while the prosecuting attorney listened in patience. When his turn came he rose quietly and in his usual nasal drawl said: “Gentlemen, I hope the learned counsel won’t get offended if I don't talk but just one minute. All I've got to say is this: The prisoner don’t pretend to deny that he stole our money, and all he asks of you is just to give him the privilege of stealing it at a discount.” He sat down, and the jury sent the thief to the penitentiary without leaving the box.

COMING BOOKS.

Pkof. Barnett Wendell, of Harvard, has in preparation a volume of essays treating of various phases of life in Puritan New England. The final volume of the Putnam edition of Washington's writings will be issued this fall, the long dekty in its appearance being due to the labor required in the preparation of the index. Thomas Payne’s writings, as edited by Moncure D. Conway for publication by the Putnams, will fill four volumes. The edition will include his social, religious and literary writings, as well as. those which pertain to politics. Dick Donovan, of detective fame, has written a serial entitled “Eugene Vidocq: Tramp, Thief, Adventurer, Galley Slave, Detective.” It deals with the life and sensational adventures of a notorious Frenchman, who died aa recently as 1857 at the ago of eightytwo.

PRESENT THEIR PLEA.

A L»fthjr Platform Adopted bp tba Ad▼ocataa of SUrer'e Claims CoagroM Called Upon to Prorlde for Proa Cola*f* —Close of the Chicago Conreatloo. Chicago, Aug. B. —Following is the platform adopted by the silver convention on Wednesday. It is preceded by a lengthy preamble, which denounces the act of congress of 1878 by which silver was demonetized, the law being passed under circumstances of such Beerecy that President Grant, who signed the bill, and many senators and representatives who voted for it subsequently repeatedly and publicly declared that they did not know until long afterwards that so great and grave a change bad been made in the financial system founded by the fathers of the republic, and declares the purpose of its originators to be the striking down of one-half of the money supply—to wit, silver—to double the purchasing power of the remainder, gold, by making it the equivalent of everything possessed or produced by the labor of man, thus reducing the price of all commodities, arresting enterprise, impoverishing the toiler and degrading mankind. It declares that as a consequence of such legislation the people of the whole world stand in the midst of unparalleled distress and in the shadow of impending calamities which are beyond estimate. The ruling industry of the people who inhabit one-third of the area of this republic has been stricken down, property values destroyed and the workmen compelled to fly as from pestilence, and continues: "Everywhere over this broad land the honest toilers, numbering hundreds of thousands, have been thrown out of employment, and will have to eat the bitter bread of charity or starve. The products of industry, of the farm and the workshop, have depreciated in price as shown by official and public statistics, until production ceases to be profitable; the money of the country inadequate for the business of the land, haa gravitated to the banks: while the people, distrusting the banks, have demanded their deposits to hoard ffr hide them; mercantile houses are going to the wall by thousands because the masses have not the means to buy even the necessities of life; to supply the lack of currency the banks of the great cities have Issued a substitute for money unknown to the laws, called clearing-house certificates; the movement of the great crops now being gathered demands a vast amount of currency, which the banks are unable to furnish; and in the midst of these conditions the daily press are clamoring for the repeal of the act of July 14, 1890, called the Sherman act, although the repeal of that act means the stoppage of the issue of more than 13,000,000 every month; thus shutting off the supply of funds for the business of the country in the midst of the terrible conditions which surround us: and ignoring the fact that to hold the balance level between the debtor and creditor classes the susply of currency must increase side by side with the increase of population and business; and that m this nation, the growth of population is at the rate of about 37 per cent every ten years, while the increase of business is much greater. ”

The preamble quotes Hon. James G. Blaine as predicting that if the struggle in this and other countries for a single gold standard is successful it will produce widespread disaster in and throughout the commercial world. After quoting from speeches made in the past by Secretary of the Treasury J. G. Carlisle, and by Senator John Sherman of Ohio, who, it declares, more than any other man is responsible for the demonetization of silver, to show that they clearly understood the evil consequences of shrinking currency below the legitimate demand of the business of the country, the platform declares a» follows:

1. That there must be" no compromise of this question. All legislation demonetizing silver and restricting the coinage thereof must he immediately and completely repealed by an act restoring the coinage of the country to the conditions- established by the founders of the nation and: which continued for over eighty years without complaint from any part of our people. Every hours' delay in undoing the corrupt work of Ernest Seyd and our foreign enemies is an. insult to the dignity of the American people,, a crushing burden on their prosperity, and an attempt to place us again under the yoke from which George Washington and his compatriots rescued us We protest against the financial policy of the United States being made dependent upon the opinion or policies of any foreign government, and assert the power of this nation to stand on its own feet and legislate for itself upon all subjects. 2. We declare that the only remedy for our metallic financial troubles Is to open the mints of the nation, to gold and silver on equal terms, at the old ratio of 16 of silver to 1 of gold. Whenever silver bullion can be exchanged at the mints of the-United Sates for legal tender silver dollars worth 100 cents each, that moment 412.V4 grains of standard silver will be worth 100 cents; and as commerce equalizes the prices of all commodities throughout the world, whenever 412*4 grains of standard silver are worth 100 cents in the United States they will be- worth that sum everywhere else and cannot he bought for less. While It will be urged that, such a result would enhance the price of silver bullion it is sufficient for us to- know that a similar increase would be immediately made in the price of every form of proporty except gold and credits in the- civilized world. It would be a shallow selfishness that would deny prosperity, to the mining industries at the cost of bankt ruptcy to the whole people. The legislation to demonetize silver has given an unjust increase to the value of gold at the cost of the prosperity of mankind. Wheat and all other agricultural products have fallen side by side with, silver.

3. That while the “Sherman act” of July 14*. 1890, was a device of the enemy to prevent the restoration of free coinage, and is greatly objectionable because it continues the practical exclusion of stiver from the mints and reduoea.it from a money metal to a' commercial commodity, nevertheless, its repeal, without the restoration of free coinage*, would stop the expansion of our currency required by our growth in population and business, widen still farther the difference between the two precious metals, thuamaking the return to bimetallism more difficult, greatly Increase the purchasing power of gold, still further break down the price of the pradueta of tihe- farmer, of the laborer, the- mechanic and the tradesman, and plunge still further all commerce, business and. industry into such depths of wretchedness as to endanger I*aee, order, the preservation of free- Institutions and the very maintenance of civilisation. We, therefore, in the name of the republic and humanity, protest against the repeal of the said act of July 14, 1890, except by an act restoring free bimetallic coinage as i t existed prior to 18ia We suggest that the maintenance of bimetallism by the United States at a ratio of 16 to 1 will intnease oust commerce With all the silver-using countries of the world, containing two-thirds of the population of the world, without decreasing our commerce with those nations which buy our raw material and will compel the adoption of bimetallism by the nations of Europe sooner than by any other means. 4. We assert that the unparalleled calamities which now aflliot the American people are not due to the so-called Sherman act or 1899, ajid in proof thereof wfe call .attention to the fact that the same evil conditions now prevail over all the gold standard nations of the world; we are convinced that bad as is the state of affairs <n this country it would have been still worse but iur VU Sheiruau sot by which tbs nation |. |, . . . / ♦ #

hM obtained to some extent an expanding circulation to meet (he demands of a continent la process of colonization, and the business exigencies of the moat energede and Industrious race that has ever dwelt on the earth, and we Insist upon the execution of the law without evasion so long as It is upon the statute books, and upon the purchase each month of the full amount of silver that It provides for, to the end that the monthly addition to the circulating medium the law secures shall be maintained. & That we would call the attention of tha people to the fact that In the midst of all tbs troubles of the times the value of the national bonds and the national legal tender money, whether made of gold, silver or paper, has no! fallen a particle. The distrust is not of the gow eminent or its money, but of the banks, which have, as we believe, precipitated the present pnnic on the country In an ill-advised effort to control the action of congress on the silver question and the issue of bonds We invite the bankers to attend to their legitimate business and permit the rest of the people to have their full share In the control of the government. In this way they will much sooner restore that confidence which is so necessary to the prosperity of the people. It must not be forgotten that, while boards of trade, chambers ol commerce, bankers and money dealers are worthy and valuable men in their places, the republic can more safely repoee upon the great mass of its peaceful tollers and producers, and that this “business man’s age” is rapidly exterminating the business men of this country. The time has come when the politics of the nation should revert as far as possible to the simple and pure condition out of which the republic arose. 6. We suggest for the consideration of our fellow citizens that the refusal of the opponents of bimetalism to propose any substitute for the present law or to elaborate any plan for the future indicate either an ignorance of our financial needs or an unwillingness to take the public into their confidence; and we denounce the attempt to unconditionally repeal the Shev man law as an attempt to secure gold monometallism in flagrant violation of the last national platform of all the political parties.

SECOND DAY 8 SESSION. Chicago, Aug. 3. —Tbe second day’s session of the silver convention was called to order by Chairman Thurman atlOa. m.Wednesday. Ex-United States Senator Hill, of Colorado, was the first speaker. He was followed by Congressman Newlands, of Nevada, Senator Allfen, of Nebraska, and C. S. Thomas, of Colorado. At the afternoon session Gov. Waite, of Colorado, was the first speaker and he was followed by Congressman Rice A. Pierce, of Tennessee, a member of the executive committee of the Arner ican Bi-metallic league. After the report of the platform com mittee had been read and adopted b; the convention a committee on way and means was named, after which thi convention adjourned sine die. Th committee is as follows: Arizona, B. Hcyman; California, U. M. BellShaw: Colorado, N. P. Hill; District of Colum bia, Lee Crandall: Florida, O. Richardson: Indiana, Leroy Templeton: Idaho, James B. Bryan; Connecticut, Joseph Sheldon; Illinois, E G. Dixon; lowa, Judge A. Van Wagenen; Kansas, Charles Hatton; Kentucky, Georgs McCormick; Nevada, Thomas Wren; Massaschusetts, G. F. Washburn; Montana, W. A. Clark; Michigan. M. E. Hogmeyer; Minnesota, Ignatius' Missouri, R. W. Gould; New Mexico. Jack Crawford; Nelnaska, Paul Vandervort; North Dakota, Willis R. Bierly; North Carolina, J. H. Stanton: Pennsylvania, Victor A. Lotier; Maryland, H. C. Saffell; Ohio, Allen W. Thurman; Utah, C. E. Allen; S. Dough erty; Tennessee, Rice A Pierce: Virginia, L. L. Johnson; West Virginia, W. C. Rawleigh: Washington, B. C. Kingsbury; Wisconsin, Robert Schilling; Wyoming, J. C- Campbell; Oklahoma, C. W. Smith; New York, C. B. Mat tis.

CARLISLE ACTS.

Piss »f ithe Secretary of the Treasury I Believe the Financial Stringency. Washington, Aug. 3.—Secretary Car lisle has notified the 150 national bank depositories in the United States that their authorized balances have been fixed at par of security, and instructing them to transfer any excess to the nearest subtreasurer. This action of the treasury department will release to the banks about $4,900,000, and is intended, as far as practicable, to relieve the financial stringency prevailing in the country. According to former regulations each depository bank was permitted to holt! government funds to the extent of from 90 to 95 per cent, of the United States bonds deposited to secure the same. This action of the treasury permits them to hold government funds to the par value of the government bonds on deposit, and it ia believed will have the effect in a slight degree of improving the financial situ** tion*

A TEXAS LYNCHING.

Henry Reynolds Kills- a- Father, Mutilatcc Two Children and. Assaults the Mother —Hanged by a Mob*. Montgomery, Ttex;,. Aug. 3.—The most diabolical crime ever committed in this county was perpetrated about 9 miles north of this- place last Sunday night. A negro named Henry Reynolds entered the house of Mr. Marsh, murdered him, dragged his body oht in the yard, them returned and broke the leg of the oldest son, aged 8; fractured the skull of the baby, 1 year old;, dragged the mother out in the yard, assaulted her and left her for dead. Ha- re turned next day at noon to find Mrs, Marsh still alive and said he had come- back to finish her, but was discovered amd captured before he could complete his crime. He was fully identified*- and Monday even* ing, on the scene of his crime, by many willing hands was swung into eternity.

More Gold. Coining.

London, Aug; 2.—The North Germa’_ Lloyd steamer Spree, which has just sailed from Southampton for New York, has on board £850,000 consigned to American houses. The White Star line steamer Majestic, which left Liverpool for New York, took £350,000, making a total sum of $6,000,00ft shipped for the day. Further shipments will be- made on Saturday, and the sum of $3,196,000 has been withdrawn from the Bank of England, to be sent to the United States.

Need Not Fast on Friday.

Rome, Aug. 3. —The pope has direct ed the Catholic inhabitants of Naple not to fast Fridays as long as the chol era prevails. He fears the physical weakness engendered by fasting migh" cause the people to be more susceptibly to the disease.

The Blockade Raised.

London, Aug. 3.—Sir Edward Grej parliamentary secretary of the foreig. office, announced in the house of cod mons that the French blockade oi Bangkok had been raised • ,

CONGRESS MEETS.

Opening of the Extra Session—The Senate Adjourns Out of tteepoet to tho Memory of the Late Senator Stanford— Mr. Crlap Elected Speaker of the —Other Democratic Cone us Nominees Chosen to Fill Vsrloos Offices. Washington, Ang. B. —The senate was called to order at noon. After the president’s proclamation convening congress in extra session was read, the oath of offiee was administered to Senators Quay (Pa.) and Pasco (Fla.) and a communication was read from Senator Beckwith (Wyo.) announcing that, owing to a combination ot circumstances, he had placed his resignation as senator in the hands of the governor. The communication was placed on file. The usual resolution to notify the house and president were adopted, and then the death of the late Senator Stanford, of California, was announced by Senator White, of that state, and as a mark of respect the senate adjourned until Tuesday. Washington, Aug. 8. The house was called to order by Clerk Kerr, and the president’s proclamation having been read the call of the states and the names of their members was first in order. Three hundred and thirty-six members responded to the roll-call, and a quorum was declared to be present. ‘‘The clerk is now prepared to receive motions looking to the election of speaker, as no other business is in order until a speaker is elected,” said the clerk. There was a slight applause as Mr. Hoi man (lnd.) arose, and, having moved that the election of speaker be proceeded with, said: “I have the honor to place in nomination for election as speaker of the house of representatives of the Fifty-third congress Hon. Charles F. Crisp, of the state of Georgia.” [Applause.] Mr. Henderson (I1L) next claimed recognition. “1 have the honor to place in nomination for the same office Hon. Thornes B. Reed, representative-elect from the state of Maine. “[Applause on the republican side.] Mr. Kern (Neb.) a people’s party representative, arose. “I have the honor,” said he, place iu nomination for the same position the name of Hon. Jeremiah Simpson, of Kansas.” [Laughter on the democratic and republican sides.] Mrssrs. Carruth (Ky.), O’Neil (Mass.), Bingham (Pa.) and Hopkins (Ill.) were appointed tellers. A roll call showed: Charles F. Crisp, 214 votes; Thomas B. Reed, 122 votes, and Jeremiah Simpson 7 votes. “Charles F. Crisp, a representative from the state of Georgia,” said the clerk, “has received a majority of all the votes given, and he is dulv elected speaker of the house of representatives for the Fifty-third congress. [Great applause.] The clerk appoints Mr. Holman (lnd.), Mr. Reed (Me.), and Mr. Simpson (Kan.) to escort the speaker-elect to the chair.” [Applause.] There was a burst of applause as Speaker-elect Crisp appeared a few minutes later under the escort of the committee. When he took the chair the speaker said: “Representatives; Profoundly grateful for this mark of your confidence 1 shall strive tto prove in. some degree worthy of Jt by an honest effort to discharge the duties of the-offlee upon which I am about to enter with fidelity, with courtesy and with the strictest impartiality. [Applause;] lam now ready to take the oath of office. ”

Representative O’Neill (Pa.) “the father of the house,” administered, the oath of office to the speaker, prayer having first been offered by the chap>lain of the last house, Rev. Dr. Milburn, now the chaplain of the senate. The oath ©f office was then administered by the speaker to the members*' the roll of -states being called for this purpose. When the state of Michigan was reached, Mr. Burrows of the republican side arose and said: “I objects,. Mr. Speaker, to. the oath of office being administered to Mr. Richardson, whose name appears on the roll. It is customary in such cases for the member® to stand aside for the present.” “Mr. Richardson will stand aside until the conclusion of the organisation of the house,” said the speaker, and Mr. Richardson retired to the rear.

After the oath of office had been, administered to all the members, Mr. O’Ferrall (Ya.) moved that George- F. Richardson be now sworn in. Mr. Burrows moved as a substitute & resolution; reciting that the certificate given to Mr. Richardson had been; annulled and made void by reason of the judgment of the supreme court, and that the board of canvassers hadi declared and certified that Charles E. Belknap, had been duly selected, and declares that said Belknap is entitled to be sworn in on the prima facie ease. An agreement was arrived at by which each side was to be allowed one hour’s debate, but at the suggestion of Mr. Oates (Ala.) the whole subjpet was postponed until after the organization of the-house. Mr. Holman presented a resolution providing for the election of: the officers of the house nominated by. the democratic caucus of last Saturday;. A substitute, proposed by Mr. Henderson, and substituting the republican caucus nomamees was rejected, -and the democratic resolution was then adopted. The- oath of office was then administered by the speaker to the following} Clerk, James Kerr, oi Pennsylvania; ser-geant-at-arms, Herman W. Snow, of Illinois; doorkeeper, A. B. Hurt, of Tennessee; postmaster, bycurgus Dalton, of Indiana; chaplain, S* W. Haddaway, of Maryland. The committee was then appointed to notify the president and the senate that the house was ready for business.

Welsh Excursionists Capsize a Beat in Swansea Bay.

London, Aug. B.—News of a sad accident to a party of excursionists was received Monday evening from Port Talbot, a town in Glamorganshire, Wales. Twenty-eight, pleasure-seekers from Ystrad took a boat at Port Tal but and in spite of repeated warnings ofdanger, the boat being overloaded, put out into Swansea bay. A heavy sea hit the boat, causing the occupants to rush to the side, when it capsized and all ■were thrown into the water. Twentytwo, including several women and children, were drowned.