RAILWAY SECURITIES
IN BAD ODOR AMONG EUROPE
AN INVESTORS.
"What i Set Forth In the Report of Coun
el General Mason American Railway
Securities Returned and their Proceeds
Invested In Less Remunerative Ven
tures Because of the Dishonest Man
agement of Railroad Companies in this
Country.
Vnited States Railways.
Washington-, Nov. 17. Frank II.
Mason, United States consul general
at Frankfort, in a special report to
the state department, states that
American railways securities have
fallen into bad odor in Germany and
endeavors to point out the reasons
therefor and suggest measures for re
habilitating them in the financial
world, lie says that in Frankfort,
which was the first European money
market to accept United States bonds
during the dark days of the civil war
and vi here American investments had
been popular, not only are new se
curities refused because of American
origin, but railroad stocks and bonds
had for years been returned to
America and their proceeds invested
in less remunerative Prussian consols
and other standard securities backed
by government credit and supervision.
The consul general says: "The
cloud which overshadows" American
railway securities in Germany has
been caused mainly by the revelations
of the past two years" concerning the
management of 'several leading rail
way properties. German investors
were heavy losers and their losses
served to call the attention of the
people and press mere sharply than
ever before to the usurpation of power
and evasions of responsibility which,
it is claimed, have become so frequent
in American railway management."'
"European bond j and shareholders
ha-e been informed," the report con
tinues, "tlmt the power of the presi
dent and directors in mam- important
railway companies has become prac
tically oraiiipxtent and irresponsible.
They have sent over protests and
proxies to be used at elections for
the purpose of wrestling the control
of corporate properties from the
hands of officer who were said to be
abusing their trusts and they have
seen these and everv other effort to
ward :i change easily and hopelessly
defeated. That the accounts of an
entire railway system may be falsi
lied and its securities sustained in
the market by lictitious statements
of earnings and concealment of re
bates all of which is believed here
are discoveries of compratively recent
date.
"Until some general measure can
be adopted and enforced, and foreign
investors can have the assurance asked
for that the published statements of
American railway companies are cor
rectand true, and that such malad
ministration, as has been revealed i n
the affairs of certain systems, is no
longer possible, all such investments
in United States securities will be
more or less discredited, and county,
municipal and industrial securities of
American origin will sufTcr."
CHINA AND JAPAN.
The' .Mediation to lie Looked Into Hy
Uncle Sam.
Washington, .Nov. 17. Kepresenta
tive Bellamy Storer, of the commit
tee on foreign affairs of the house of
representatives, intends presenting
to congress when it reassembles, a
resolution of inquiry as to the action
of Secretary Gresham in suggesting
to China and Japan that this country
act as mediator in the settlement of
the present war. Mr. Storer is now
making a careful examination of the
subject with a view to taking the
initial steps. The resolutions when
drawn will request the secretary
of state to transmit to congress all
correspondence on the subject, not
incompatible with the public service.
They will ask for information as to
what departure, if any, from the tra
ditional policy of the government as
embodied in the Monroe doctrine, is
contemplated by the executive branch
in becoming a factor in Asiatic en
tanglements. fn examining the treaty of lS.'.S,
between China and the United States,
under which the government has sug
gested its willingness to mediate, Mr.
Storer says the language does not con
template mediation by the president
or executive branch alone. It recites
in substance that the United States
will exercise their good oilices in case
any nation acts unjustly or op
pressively against China. This, Mr.
Storer points out, suggests the good
oilices of the United States, but not
of Ire president; so it would be
proper, and perhaps essential, that
the congressional branch of the gov
ernment should act in cae such good
olllces are to be exercised.
Mr. Storer says that any action he
takes will be on conservative lines, as
he desires to make his inquiry for in
formation rather than criticism until
the facts are presented.
NO GOLD BEING SENT HERE.
A Shipment From Kiiglamt Intended for
Canada.
New Yokic Nov. 17. It is gcncrally
believed in banking circles that i200.
000 consigned to the bank of British
North America is for Canadian ac
count and has no connection with the
recent government bond issue.
Foreign bankers characterize the
rumors of gold imports at this time as
preposterous and say that to import
gold would be equivalent to selling
demand exchange 3d per pound below
the nrevailing rate; that the purchas
ers of bonds for foreign account can
find a readv market for their bills
owing to tlie low price of exportable
commodities and the excellent de
mand from remitters, and that there
is no need of any such operation as
gold imports being made unless the
price of exchange shall decline ma-
terally.
MI". MAXWELL'S KEl'OR.
Work of the Fourth Assistant Postmas
ter General An rmy of l'otmater.
Washington, Nov. 17. The annual
report of K. A. Maxwell, fourth as
sistant postmaster -general, has been
submitted to the postmaster general.
There are three divisions under his
charge appointments, bonds and
commissions and postoffice inspectors
nd mail depredations. The report
covers the period for the fiscal year
ended June 30. 1S94. The total num
ber of postoffices in operation m the
United States on that date was G9.S05.
Of these 60.377 were fourth class
offices and 3.42S presidential; the net
Increase over the previous year being
1,402. During the year 3.130 post
offices were established and 1,.34 i dis
continued. The total number of ap
pointments during the year was 23. 100
and the total number of cases acted
on 27.5G0. of which 8,900 were in cases
of removals.
SOLDIERS TO BLAME.
'o Excuse for the Washington Court
House Killing by Ohio Militia.
Washington Court House, Ohio,
Nov. 17. Coroner James M. Edwards
of this city began his inquest on the
five prisoners that were shot in front
of the court house in this place on the
night of October 17, 1S94, two or three
days after the occurrence and ob
tained testimony of ninety-eight wit
nesses. It was quite a surprise to
many of the citizens when they
learned the coroner had returned his
verdict yesterday, as it was generally
understood that the verdict would be
withheld until Colonel A. B. Coit's
testimony could be obtained.
The following is Coroner Edward's
verdict:
"After having viewed the bodies
and heard the evidence I do find that
the deceased Smith Welch, Mac John
son, Jessie Judy, William A. Sams
and Theodore Ammerman came to
their death from being struck while
in front of the court house on the
evening of October 17, 1394, with
leaden balls fired from the interior of
the court house' in Washington
Court Hons.- by Ohio State
National Guards, who were under
command of Colonel A. B. Coit, as
colonel of the Fifteenth regiment of
Ohio national guards, and I do find
that at the time of firing by the
guards there was no imminent danger
of serious destruction of propert, or
of harm to any one inside the court
house, or the remotest danger of the
prisoner. William Dolb- (colored),
beinir wrested from the custody of
Sheriff Cook. Jajii:s3I. Eiwai:s,
Coroner."
MISSOURI'S OFFICIAL VOTE
i:i:ic-tv Uont-n ly koliiiison by a, 091
Votes Democratic Looses Large.
Jkffkkson Citv, Mo., Nov. 17. Gov
ernor Stone and Secretary of State
Lesueur opened the official returns
from the late election to-daj-, all the
counties having reported. A score of
clerks were put to work, but only the
vote for judge of the supreme court
has been completed and officially an
nounced. The Democratic loss over
was 41.S53, while the Republican
gain was l,ii75, and the Populist gain
1,259. The Socialists, a new party in
Missouri politics, polled 1,572 votes in
the entire state.
Following is the official vote for
jinlge of the supreme court: Black,
Democrat. 220,517; Robinson, Repub
lican. 229,41: Jones, Populist, 42.403;
Robinson, Prohibitionist, 3,099; San
derson, Socialist, 1.572. Two years
ago the parties were divided as fol
lows: Democrats, 20?, 400; Republi
cans. 227,010; Populists, 11,240; Prohi
bitionists. 4..';:'..'t.
MR. SOVEREIGN'S ADDRESS.
Annual Report of tho K. nt L. General
Master Workman.
Xi:v Orleans, La., Nov. t4. The
afternoon session of the Knights of
Labor convention convened at 2
o'clock and adjourned at 5:30. After
some preliminary business, General
Master Workman Sovereign delivered
his annual address, which was an
exhaustive and elaborate resume of
the work of the order from its incip
iency. He attributed the decreased
membership of the order to the de
gression in business circles, prevalent
baukruptcj, low wages and forced
idleness of laboring classes.
Referring to the A. R. U. affiliations,
he advised a coalition with this as
well as all labor organizations. His
resume of the Pullman strike termi
nated in severe criticism of Major
General John M. Schofield and
the recommendations of that of
ficer foi an incrsase of the
army, together with the ac
tion of "Chicago's millionaire aris
tocracy, who were permitted to pre
sent a stand of colors to the Fifteenth
infantry," which was indication of an
"uneasy desire to subjugate labor
through the military powers of the
nation." lie urged that the assembly
take strong action against an increase
of the military force of the nation and
that they advocate a decrease in the
regular army and the abolition of the
state militia.
HUSBAND'S VENGEANCE.
IHcachlns Skeletons of Tiro Eloplns:
Couples Found in Alabama.
Fkancisco, Ala., Nov. 17. News has
reached here of the finding of four
human skeleton ? m a crevice on Cum
berland mounts . near the head of
Hurricane creek. The remains were
found by some negroes who
were chestnut hunting. The skele
tons are believed to be those of Mrs.
Sarah Rishop. her stjp-daughter, and
two men, strangers in this county,
with whom the women eloped last
sprinjr. At the tune the enraged hus
band and father went in search of
the recreants, lie remained absent
for a while, but finally returned and
reported that his search had been
fruitless. Since then nothing has
been heard of the elopers. Mr.
Bishop has also left this part of the
country, and his whereabouts is not
known. An effort will be made tc
develop the facis in the case.
WHAT IT MAY DO.
Tho Short Democratic Congress Will
Try to Do Many Tiling.
Washington. Nov. 17. While pros
pects of legislation during the closing
session of this congress are not bright,
the Democrats have a very ambitious
program. Not to mention silver
or the pop-gun tariff bills, much
important legislation will be at
tempted. It is proposed, first of
all, to attempt a reorganization of
the national bank s3-stem, so as to se
cure an expansion of the currency on
an easier system of security. Next
to amend the inter-state commerce
law, to pass a free ship bill, and an
earnest attempt will be made to pass
a bill putting the Nicaraguan canal
under the control of the United
States government, the government
to bear the costs of construction.
Any new scheme of finance is likely
to meet with strong opposition in the
senate, where it is just possible the
silver men may have a majority.
A Xejro Hrute in Atchison.
Atchison, Kan.. Nov. 17. A negro
made a brutal assault upon Mrs. Ben
Hob?on, Mrs. Mcllale Cain. Miss Kosa
Cain and Mrs. Frank Guitzraan in
their homes about 6 o'clock this
morning, injuring Mrs. Cain and Rosa
and beating Mrs. Guitzman into in
Bensibilitj'. The town is aroused and
a good many citizens are aiding the
police in their search for the wretch.
A Wronged oman's Vengeance.
Stockton, Cab, Nov. 17. Frank
Quinn, a well known young man of
this city, was shot and kille 1 yester
day in" a lodging house bv Edith
Elder, who subsequently shot herself
in the right side, but will recover.
The woman confessed that she shot
Quinn because he had wronged her
under promise of marriage. She was
placed under arrest, but was allowed
to remain in the lodging house.
AIL IS HARMONIOUS.
NO DISAGREEMENT BETWEEN
CLEVELAND AND CARLISLE.
The President Gives Denial to a Story
That Has Been Set Afloat Never Since
Their Association Has There Been the
Slightest Unpleasantness or Difference
Concerning the Affairs of the Treasury
Department or Any Other Matter
Something About the New Currency
Policy.
Cleveland and Carlisle.
Washington, Nov. 16. The atten
tion of the president was called yes
terday to the statement contained in
certain newspapers to the effect there
had been a disagreement between
him and Mr. Carlisle in regard to the
issue o bonds and other matters and
intimating such a disagreement
might result in the secretary's retire
ment from the cabinet
The president emphatically denied
the entire "batch of silly misstate
ments" and said: "Never since our
association together has there been
the slightest unpleasantness or differ
ence concerning the affairs of the
treasury department or any other
matter. I have every reason to be
lieve his attachment to me is
as sincere and great as mine is for
him. I should be much aillicted if any
thing should cause him to enter
tain the thought of giving up
his position where he is doing so much
for his country. We have agreed ex
actly as to the issue of bonds and
there has been no backwardness on
his part on that subject. I see it is
said I am formulating a financial
scheme. If such a scheme is pre
sented it will be the work of the sec
retary of the treasury and I shall in
dorse and support it.
"The trouble seems to be that
those charged with the executive
duties of the government do not ap
pear willing at all times to take coun
sel with the newspapers and make
public all they intend to do."
FRANCE'S TRADE DEPRESSION.
Consul A Iley Make? a Kcport on tho
Hard Times in the Kepublie.
Washington, Nov. 10. United
States Consul J. S. Wiley at Bordeux,
France, sends to the department of
state a report on trade depression in
France, in which he says: "If the in
habitants of the United States have
had reason to complain of hard times
for a year or more past, the French,
to a certain degree, have been their
companions in misfortune. Not
that France cannot suffer and
endure as pronounced a finan
cial depression, and still thrive.
On the contrary, I doubt, if,
taking all things into cpusiderauon,
she is not to-day better off than any
of her foreign neighbors, for statistics
show that there still remains more
money per capita in circulation in the
republic of France than in any other
country in the world. The report
recently published by the custom
house, giving an itemized resume of
France's exportation and importation
during 1893, however, shows that
there has been a diminution in her
commerce amounting to 502,000,000
francs. This represents, compared
with the previous year a fall
ing off of 203.000,000 francs
in exportations and 252,000,000 francs
in importations. Many reasons may
be ascribed for this condition of af
fairs. First, the prevailing burinefis
and commercial depression exper
ienced throughout the world; second,
as regards importations into France,
the country little over two years ago
also increased the duty on nearly all
raw and manufactured articles dis
charged at her ports or brought
across the frontier, and, as goods, to
apply an old aphorism, are paid for
with goods, either directly or indi
rect. France may explain the de
crease of her exportations by the ap
lication of that theory. We may, in
a certain measure, take it for
granted, however, that the merchan
dise which has heretofore gone abroad
is now consumed at home, offering
thereby no less employment to skilled
labor or to the manufacturing interests."
MICHIGAN'S LONE DEMOCRAT.
ITo Will Have Lots of Sport as a Mem
ber oT the Legislature.
New York, Nov. 1G. United States
Senator McMillan, who is here from
Michigan, said of the Michigan po
litical situation: "The situation is
unique. The state senate is composed
wholly of Republicans. The lower
house has ninety-nine Republicans
and one Democrat. That one Demo
crat is John Donovan of West Bay
City. Mr. Donovan is a sober, thought
ful earnest man who does not appre
ciate the fun which everyone in Mich
igan is tr3ing to make out of the
fact that ho is the solitary Democrat
in the legislature. I do not think
anything of the sort ever happened
in a Northern state. The situation is
so unusual that evciwbody laughs.
It is customary for the minorit,- to
have representation on all the com
mittees. Probably the rule will have
to be changed this j-ear. There are
two United States senators to be
elected this winter. Of course Mr.
Donovan may go into caucus as a mi
nority and nominate two Democratic
candidates. The power of absolutely
determing two candidates for the
United States senate, who shall re
ceive the unanimous support of the
party they represent, seldom comes
to auv one man."
STEVENSON FOR 1S90.
Senator Brice Booms Him for the Dem
ocratic Nomination for President.
New York. Nov. 16. Senator Brice,
who is in the city, said yesterday, re
garding the political situation:
"The next Democratic candidate to
run for the presidency will be Adlai
E. Stevenson, and he will have the
united support of all factions of his
party. t He is the logical candidate
and he comes from a'state that can be
carried by the Democrats with his
name leading the presidential ticket.
He is the best man we can take. I
do not think the party would make a
mistake. The election of last Tues
day settled the fate of several pr6s
pective candidates, and I am more
than ever convinced now that Mr.
Stevenson is our man. As for Cleve
land running for a third term all
that kind of talk is twaddle.
Agricutural College Officials.
Washington, Nov. 16. The annual
election of officers of the Association
of American Agricultural Colleges
and Experiment stations was held to
day with these results: President. H.
E. Alvord of Oklahoma: first vice pres
ident, A. A. Johnson of Wyoming;
secretary and treasurer, F. L Wash
burn of Rhode Island; biographer, S.
W. Johnson of Connecticut.
CALLS FOR TROOPS.
Indian Agent Wisdom Again Appeals
to Washington.
Washington, Nov, 16. Indian
Agent Wisdom at Muskogee, Ind. Ter.,
telegraphed the Interior Depart
ment yesterday as follows: As I
predicted would be the case, the Cook
gang, estimated at fifteen strong,
held up the north-bound train at 10
o'clock last night at Blackstone
switch, five miles north of this place.
They robbed all the passengers, get
ting considerable money and other
property" "Nobody was killed.
"The courts are utterly powerless
to protect us in either life or proper
ty, and I see no end to the trouble
unless tho military intervene. I
must again recommend that troops
be sent here at once. Please refer
this matter to the secretary of the
interior, and, if need be, to the presi
dent. The utmost consternation pre
vails and people lawfully residing in
the Territory are at the mercy of the
bandits. In the last few days this
gang has committed rape, murder and
every sort of robbery, and the state
of affairs is a shame and reproach to
civilization."
The secretary of war, upon the ad
vice of the attorney general, stated
recentlj' that he was not authorized
to send troops to the territory, and it
is said by interior department officials
that Secretary Smith is powerless in
the matter. The telegram, however,
will be referred to secretary Lamont,
so that he may understand the sit-
UilLlUll.
IS INGALLS A CANDIDATE?
The Atchison Statesman May Go After
John Martin's Seat.
Toi-EKA, Kan., Nov. 10. There is
some talk over the state that John J.
Ingalls will be sprung as a dark horse
candidate for John Martin's seat in
the United States senate. Ingalls
has intimated that he would wait un
til 1397 and then go after Mr. Peffer's
scat, but the Atchison Globe, which is
authority on the iridescent states
man, says:
"John J. Ingalls said in a recent
interview that he was not a candi
date for the United States senate.
Of course he is. If he would name
the dearest wish of his heart, it
would be to return to the senate.
This is- perfectly natural, and he
would rather be elected this winter
than two 3ears hence. We have never
heard Mr, Ingalls say this, but we
know it. During his retirement from
politics, however, Mr. Ingalls has
lost his organization, and it is prob
able that he will have difficulty in
securing the indorsement of the leg
islature. In Kansas politics it has
been the rule for candidates to go in
and make a fight. The success of his
plan of waiting to be coaxed will be
watched with interest."
BOOKMAKERS IN A BOX.
An East St. Louis Justice Holds That
Lost Money May Bo Kccovered.
St. Louis, Mo., Nov. 10. In Justice
James A. Wyatt's court in East St
Louis, II. E. Barnes sued for the re
covery of S1S4 lost at the East Side
race track during October. When
the case was tried he produced losing
tickets representing the amount he
claimed to have lost, and succeeded
in convincing the judge of the truth
of his statement
Judge Wjatt said that his decision
in favor of Barnes was strictly in
compliance with the state statute
governing such cases, which defined
clearly that a person, upon proving
that he had lost an amount equal to
or more than $10 upon any gambling
device whatever, co&d obtain the full
amount lost from tli parties receiv
ing the same and ifflnot from them
from the lessees or owners of the
property upon which such games
were conducted.
A similar case has been compro
mised by the track people, but this
will be carried up. Confirmation of
the decision will end racing across
the riv.r from here.
UNION PACIFIC CASES HEARD.
The Branch Lines Mutter Brought Be
fore Federal Judge Sanborn.
St. Paul, Minn., Nov. 16. Before
Judge Sanborn, in the United States
circuit court to-daj, the application
of the receivers of the Union Pacific
to cut off branch lines was heard on
appeal from the report of Master-in-Cliancery
Cornish, who made numer
ous recommendations concerning the
matter. There was a question of a
division of earnings between the
Kansas City & Omaha and St Joseph
& Grand Island and the Union Pacific
The matter was submitted with the
privilege of filing briefs, should the
attorney desire. Judge Cornish had
recommended that the receivers of
the Fort Scott and Omaha operate
that road and that any deficit that
might arise from such operations be
borne by the St Joseph and Grand
Island and the Union Pacific, the di
vision betweeu them to be based od
some fair ratio.
OUTLAWS FOUL CRIMES.
Indian Territory Desperadoes Do Worse
Than Commit Kobbery.
Guthrie, Ok., Nov. 10. A remnant
of the Cook outlaw "gang which had
been runout of the Indian territory,
held up a German emigrant named
Beckley who was en route with his
family from Wewoka to Tecumseh
yesterday morning. The poor trav
eler was robbed of all his valuables,
his eldest daughter was outraged
and one of the horses unhitched from
the wagon and ridden off.
There were four bandits in the
party. Deputy marshals are in pur
suit of the desperadoes.
Will Aid the Itepubllcans.
Raleigh, N. C, Nov. 16. Marion
Butler, the president of the National
Farmers' Alliance, who is slated to
succeed Senator Ransom in the United
States senate after March 4 next, is
reported as having said he would vote
w.th the Republicans in the organiza
tion of the next senate. If this is so
the Republicans can count on both of
North Carolina's votes in the organiza
tion of the senate, the other to bo
elected in JanMary by the legislature
to succeed Jarvis, who will be a Re
publican. Dr. J. J. Motiss, ex-chair
man of tne Itepublican state com
mittee, seems to be in the lead just
now for that position. The present
secretary of the senate. General W. R.
Cox, is a North Carolinian.
Not Guilty of Strike Interference.
Cheyenne, Wyo., Nov. 16. F. J.
Egan, associated editor of the Carbon
County Journal, E. T. Burke, district
court clerk of Carbon county,
and City Marshal Healy of Raw
lins have been acquitted in the
United States district court of the
charge of interfering with the Union
Pacific receivers during the railroad
strike. The prosecution broke down
completely, and at the request of
District Attorney Clark the judge in
structed the jury to find a verdict of
not guilty.
ANOTHER BOND CALL.
PUT FORTH BY THE SECRETARY
OF THE TREASURY.
The Interest Kate to Be Fiye Per Cent,
and the Bonds Are to Run Ten Years
A Big Premium is Looked For The
President Determined to Protect the
Gold Reserve of tho Treasury Denom
ination of the New Bonds.
Asking Bids For Bonds.
Washington, Nov. 15. Tho issue of
$30,000,000 in bonds, which the presi
dent decided upon and for which Sec
retary Carlisle, despite his previousVy
declarcd purpose not to do so until
congress should act, issued a circular
inviting bids last night, will ease
present treasury conditions, but will
not affordpermaneut relief, and there
is reason to believe that the presi
dent and the secretary will submit,
most important suggestions on this'
need to congress in December. Legis
lation will be asked designed to
prevent the recurrence of these con
ditions or empowering the govern
ment to meet them promptly and ef
fectively and the subject of currency
will receive exhaustive treatment. It
is altogether probable that the labor
Mr. Cleveland is now expending on
the subject will make his December
message one of the most notable ever
addressed to congress. It is said that
he will favor many of the suggestions
made by. the bankers' national con
vention at Baltimore in September.
What is known as the Baltimore
plan, adopted at that convention, ap
pealed to the president as having
features of merit, lie obtained a
copy of the plan and since that time
he has been studying and working on
the subject. Briefly stated the Balti
more plan provides for a guarantee
fund, obtained by levying a small tax
upon all of the banks. This fund is
to be used to pay the notes of the
banks which become insolvent
Since it became whispered among
financiers that the president was pre
paring to address congress upon the
currency system, so many suggestions
have reached him that he thought it
well to gather some expert opinion
among bankers, whom he could not
personally consult. The present visit
of William E. Curtis, assistant secre
tary of the treasury, to New York
city, is understood to be for
the purpose of sounding . public
opinion there upon the general
subject. While Mr. Curtis is in
New York, Assistant Secretary of
the Treasury Conrad N. Jordan is in
Washington", urging upon the presi
dent to recommend to congress the
appointment of a currency commis
sion, nfti-partisan in its character,
and composed of representative men
of all sections, who shall consider the
currency question in its various bear
ings and report a system of reform to
congress.
There is no great confidence in ad
ministration circles that a bill for cur
rency reform can be passed during
the short session, but the president
is willing to meet the issue and begin
a campaign of education, whether he
achieve immediate success or not
NEW FINANCIAL POLICY.
President Cleveland Has One and Will
Submit It to Congress.
Washington, Nov. 15. Secretary
Carlisle, late yesterday afternoou, is
sued his call for bids for S30,000,000 5
per cent ten year bonds, interest to
be paid in coin, which is interpreted
to mean gold. It is confidently ex
pected at the treasury department
that an amount will be realized con
siderably in excess of that received on
the February issue.
The following is the secretary's cir
cular calling for bids;
"Treasury Department.
"Washington. Nov 13, 1891.
"By virtuo of the authority contained in the
act of concrcs entitled. 'An Act to Provide
for the Resumption of Specie Payments,' ap
proved January H, Ibo. the secretary of tne
treasury hereby gives public notice that
sealed proposals will be received at the treas
ury department, ofllcc of the secretary, until
1-J o'clock noon, on tho 24th day of November.
1891, for United States 5 per cent bonds, in
cither registered or coupon form, dated Feb
ruary I. 1891. redeemable in coin at the ploas
uro of the overnmant. after ten years from
the date of their issue, and bearing Interest
payable quarterly, in coin, at the rate of 5 per
cent per annum.
Bidder-, whoso proposals arc accepted will
be required to pay -0 per cent in cold coin,
or told certificates, upon the amounts of
their bids as soon as they receive notice of
the acceptance of such bids, and to p.iy in like
coin or certificates an additional a per cent
at the expiration of each ten days thereof,
until the whole is paid but they mav. at their
option, pay tho entire amount of their bids
when notitlcd of acceptance, or at any time
when an Installment i payable The llrit
payment, however on less than 20 per cent,
must be made when the bidder icceives no
tices of tho acceptance of his proposal
"Tho denomination of the bonds will be 3.10
and upwards, and bidders will, in their pro
posals, state tho denominations de-dreJ.
whether re Istered or coupon, the price which
the bidder proposes to pay. the place wiiero
it is desired the bonds shall be delivered and
the oftlce, whether that of the treasurer of the
United States or an assistant treasurer, where
it will tie mo-.t convenient for the bidder to de
posit the amounts of uis payments.
The bonds will be d.ited February 1 1391,
in order to make the proposed issue uniform
as to date wilh the exist. ns issues but inter
est thereon will bcirin November 1, I 01, and
bidders will be required to pay accrued inter
est at the rate of 5 per cent on the lace value
of their bonds from November 1 to the date or
dates of payment The total issue of bonds In
pursuance of this notice, will not exceed the
sum of SM.0 1 ;,0JJ.
'Tho secretary hereby cvpressly reserves
the ri 'ht to reject any or all bids
"All proposals should he addressed to tho
secretary of the treasury. Wash. niton D G,
and should be distinctly marked 'Proposals
for the purchase of . per cent bonds '
"Blank forms for proposals may be had on
application to the secretar. of the treasury.
J G. Caui.isi.e,
"Secretary of the Treasury."
NOT FOR GERMANY.
P0YEETY PICTURES.
DEMOCRATIC TIMES PROLIFIC
OF THEM.
She Must I'ay tho Old Itato of Duty on
Her Salt Sent Here.
Washington, Nov. 15. Attorney
General Olney has rendered an im
portant opinion involving the inter
pretation of the "most favored na
tion" clause in the treaty between
the United States and Prussia. The
question propounded by the secre
tary of the treasurj was whether
salt imported from the empire
of Germany was dutiable under
paragraph 608 of the new tariff act,
which provided that if salt should be
imported from any country, whether
independent or a dependency, which
should impose a duty on salt exported
from the United States, then there
should be levied upon such salt the
rate of duty existing prior to" the
passage of the act As atpresent ad
vised the attorney general holds that
salt imported from Germany is le
gally dutiable. So far as the favored
nation clause is concerned, the same
argument will apply to beet sugar as
to salt
Kaniom Denies a l'olltical Plot.
Washington, Nov. 15. Senator
Ransom authorizes a denial of the
story that he and Senator Gorman
have been in consultation with a view
to having an extra session of the i
North Carolina legislature called in
order to elect a Democratic senator
to succeed Mr. Jarvis, the new legis
lature being fusion and the present
Democratic.
Sonp nouses, Coxey Armies and General
Revolution the Fruit of Democratic
Kule rrlces Going Down. All Along
the Line.
Less than a month ago the barley
growers of the United States and those
who trade in barley received news
from London that two cargoes of Rus
sian barley had been sold at Odessa for
shipment to New York. This, of
course, is the direct result of the first
step toward free trade and democratic
legislation for the benefit of foreign
fa rmers.
Under the tariff act of 1SS3 the
duty upon foreign barley imported into
this country was ,1.50 per cent ad valo
rem. This being insutlieient to afford
proper protection to the American farm-
A Free-Trade Monument
A STORV WITHOUT WORDS.
Street Scene in Ncm York Corner Seventh
Avenue and 125th Street Grover Clevetana
President, January 31, 1894.
From American Economist.
er the duty was increased to G1.0S per
cent under the MelCinley tariff. How
this increase benefited our farmers by
lessening our imports of barley is
shown in the following official figures:
IMI'OItTS O ItAllLEY.
Yenr ending Juno 30. Bushels. Value.
1S84 S,f)08,123 ?.",'J22,144
1SS5 y,0SG,5O7 0,522,092
18S6 10,107,115 7,t77,8$7
1SS7 10,355,594 G,173,20S
18SS 10,S31,46t 8,07C,0S2
1SS9 11.303,414 7,723,833
1S90 11,332,545 5,G29,S49
1S91 5,078,733 3,222,593
1S92 3,146,323 1,592,040
1S93 1,970,729 921,005
It can here be seen that under the more
proper protection acrded th? A?ri
can farmer by the McKinley tariff, our
imports of barley have fallen off from
over eleven million bushels in ISSOand
again in 1S90 to less than two million
bushels in 1S93. Where we paid an
average of $G,750,000 a year from" ISSl
to 1S90 to foreign farmers for foreign
barle3 we have paid less than $2,000,
000 a year since the time of McKinley
protection and less than 51,000,000 last
year.
Comparing our imports of foreign
barley for 1S93 with those of 1SS8, the
saving to American farmers was more
that 7,000,000 in this one year alone.
It is evident that protection on bar
ley was a good thing for American
farmers. The free trade party thought
it was too good a thing and feared
lest our farmers might get too rich, as
rich as the sugar trust, perhaps. It
was therefore the policy of the demo
cratic congress to grind the farmer
down and keep him poor, so the duty
on barley was reduced from
the McKinley rate of 04.0S
per cent down to 30 per cent ad val
orem hy the Gorman bill. This is a
reduction of 53.02 per cent, and it
would have been more if the Wilson
"TarifT Keform."
bill had become law. because the Wil
son bill proposed a duty of only 25 per
cent ad valorem.
Since we are to have imports of Rus
sian barley into the United States it is
well for farmers to learn a few facts
concerning this new competition that
they must meet. The total average
barley crop of Russia amounts to 135,
000,000 bushels, as ,compared with an
average crop of 60,000,000 bushels in
the United States. During a period of
five years, 1880-1890, Russia exported
30,000,000 bushels of barley to other
countries, this being 15 per cent of all
of Russia's exports of cereals.
The only recent official report upon
Russian crops has the following infor
mation that is of extreme interest to
American farmers:
"Notwithstanding the comparatively
small yield per acre and the great varia
tions in the harvests from year to year,
Russia, in the export of all breadstuffs,
has gained the foremost position
among countries placing their grain
supplies upon the world's market,
yielding to the United States only in
respect to the export of wheat and
maize."'
As Russia '"has gained the foremost
position among countries placing their
.rrain supplies upon the world's mar
ket," and particularly so of barley, It
is evident that the value of Russian
barley does much to regulate tho price
of barley in the world's markets that ard
not protected; hence it is interesting tor
study the value of Russian barley.
During a period of seven yews, 1831"
1SS7, the average export value of Rus
sian barley was 35 cents per bushel at
port of shipment. The Gorman tariff
rate of 30 per cent ad valorem
will add 10K cents per bushel to
this price, naking cents, to'
which must also be added 4 cents
per bushel for freight and insur
ance, making the total cost of Russian
barley, laid down in New York, to be
49 or 50 cents psr bushel.
It may be considered that the future
value of barley in the New York
market will b about 50 cents per
bushel, as compared with an average
price of GO to 70 cents per bushel dur
ing 1S91-1S93. when McKinley protec
tion was in uninterrupted operation.
The American farmer must prepare
himself for this new value of barley
in New York, deducting freight from
the farm and eommi.ions, so as to
arrive at the new farm price. The
American farmer will appreciate the
loss ns his contribution to a valuable
"'object lesson" in free trade. He will
also remember that this is but the first
step toward free trade, and that the
democratic leaders have promised to
make the tariff rate-; still lower, and
consequently to still further cheapen
the farm value of American barley.
Cotton Needs l'rotoction.
In the fiscal year of 1S93 our exports,
ofrawcjtton were 4. 101.524 bales, ori
2.204.131,711 pounds, of the value of
StS7.012.0S1.. or S. !S4 cents per pound.
In the same year the imports for con
sumption were of raw cotton 43,330,230
pounds of the custom house value of
SI. 030,439, manufactured cotton goods
of the custom house value of S19,031,
03S, of llax and its manufactures, S30,
079,240. All these foreign products
should have been excluded by a tariff
.sufficiently protective for tin? purpose:
all the needed cotton and llax and
manufactures of both should have been
produced in our own country.
Of Course It Will.
The woolen. the textile.the Sheffield,
the Hirmingham, and some other of
our representative industriesareantici
pating increased American orders, and
the return of prosperity to these trades
will show itself in greater activity
among the iron and steel trades. Welsh
tin plate, moreover, is greatly advant
aged by the new tariff, and the return
of settled conditions of trade in the
United States also is calculated to help
on the revival which has already com
menced. Colliery Guardian of England,
It "Inspiring Confidence."
The democratic party is the only
party that has given the country a for
eign policj- consistent and vigorous,
compelling respect abroad and inspir
ing confidence at home. Democratic
Platform, Chicago, 1S92.
An instance of its "inspiring confi
dence at home"' can be found in the!
withdrawal of Mr. Harold M. Sewall
of Maine from the democratic party.
-:JjL
Aluminum Iloats.
An aluminum torpedo boat, built by
Yarrow for the French government,
hasj ust had a trial on the Thames.
The boat is GO feet long, 9 feet 3
inches beam and weighs, with the
water in its boilers, 9 tons 8
hundred weight, the hull alone weigh
ing just 2 tons. The material used
was an alloy of 92 per cent of .alumi
num and 0 per cent of copper. A
striking result obtained from using the
lighter metal was a gain of three and
one half knots over the steel boat of
the same model; the aluminum boat
making twenty and one half knots;
but its was also made possible to use
thicker scantling, which stiffened the
boat so that the vibration was not ap
preciable. The boat is easier to lift,
and more buoyant in the water. The
cost of the metal was over 1,000, or
twice as much as a steel boat of the
same model.
The Alaska Indians in the absence
of suitable birch make their canoes of
spruce bark. A measured section of
bark is first peeled from the tree after
it has been ringed at both ends and
scored longitudinally. The ends are
then doubled and sewed with roots,
and a suitable gunwale and frame of
willow are fitted and sewed to the
bark. Two Indians can build one
canoe in a day.
Kellgiouv Item.
Mr. Isaacs I vant to see you apout
some legacies. My vader jlied and
made two testaments.
Lawyer You mean he made two
wills or testaments and then died.
"Choost so. In von of dose vills he
leaves me 5,000 and in dot odder vili
he leaves $20,000.
"Which testament did he make
first?"
"In dot old testament he leave me
85,000, but I vant dot odder vill to be
propatcd."
"I don't blame yout Isaac, but this is
the first time in my experience that an
orthodox Jew preferred the New Tes
tament to the Old." Texas Sittings.
A Strategist.
Van Cortland Park I have just
bought my wife a diamond ring for
5250.
Murray Hill I had no idea you were
so extravagant.
"Extravagantl My dear fellow, I
will save lots of money. That's why I
bought it."'
"1 don't catch on."
"Why. man alive, I'll save five
hundred dollars on kid gloves."'
