i
- -
l
r-
t
I
a
THIRTY PEOPLE KILLED.
Collapso of a Crowded Floor In Lon
don, Ont., Results Disastrously.
KhlrtySIx Itnlldings nt Fnrmvlllr, Vn., De
stroyed by Flro Commerce, Tex., Near
ly Wiped Oat Workmnn Ileenpl
tated Accident In a Cotton Gin.
London, Ont., Jan. 4. Thirty per
sons are known to havo been killed
and many wore injured by tho collapso
-of a floor in tho city hall last night.
ILast night closed tho municipal oam
jmign, and tho hall was crowded to
hear tho addresses of tho successful
candidates. How many were injured
will never bo known, as those who
suffered but slightly at onto mado or
their homes or were cared for by
friends. Uoth of tho city hospitals
are full, and many of tho injured arc
at their own homes. Tho building
was crowded to the very doors, prob
ably 2,000 people being jammed in Its
narrow space. There was a lull in the
proceedings when tho audience called
for several of the nowly elected alder
men at once, and thero was some delay
in securing a speaker to address
them. In response to numerous calls,
It. M. Tootho was pushed forward
to tho platform on which tho speakers
stood. As ho reached it thero was an
ominous crackling, and the raised
platform on which tho mayor and new
lv elected aldermen were seated
seemed to pitch forward to the floor.
There was a sagging of timbers and
tho next moment 150 people were
hurled 20 foot to tho floor below. A
Jargo safe stood in one corner of the
"Jiall and, . with a huge steam coll
-weighing half a ton, came crashing
.down on the heads of the victims. Fol
lowing tho crash thero was a wild rush
for the doors. At tho south door,
where the majority of tho crowd had
entered, thero was a terrible panic
Those in front wero thrown down by
the on-coming rush, shrieking and
ifighting for the door and safety. Only
Uialf of the rear door, a space of prob
ably three feet, was open, and In the
anad rush no one thought to open tho
other half and 500 people struggled
through tho narrow space, tho strong
bearing down the weaker.
BIG QUANTITY OF TOllACCO HUKXBI).
Fakmvili.k, Va., Jan. 4. Fire broke
, out late Sunday night in the storage
- warehouse of Duval, Robertson & Co.,
, commission merchants, and before it
. was subdued destroyed 30 buildings.
- The loss is estimated at S150.000, on
which there is an insurance of about
one-third that amount. Among the
buildings destroyed were 13 tobacco
1 factories, a laro warehouse, many
small dolHiigs and workshops. Hun
dr.d.s of laborers will be temporarily
thrown out of employment. It is esti
mated that at least 1,000,000 pounds of
tobacco were consumed, including a
i great quantity of the finest grades sold
in this market Tho origin of the Arc
has not been ascertained, though there
Is a belief that it was incendiary.
A TEXAS TOWN XEAKbV WIPED OUT.
Commence, Tex., Jan. 4. The big
gest fire in the history of this city oc
curred last night, in which the entire
east side of tho town was swept away.
Tho fire broke out in tho Aresley build
ing at midnight and spread rapidly.
The post office, Odd Fellows' building,
Thornton fc Coley, grocers; W. F.
Sayle, hardware and saddlory; J. II.
Cook, furniture; Tipton liros., grocers;
Barker & Rutland, insurance and real
estate; W. L. Irwin, meat market: R.
B. Cummins & Co., grocers; R. C. Hill
& Co., hardware, and P. V. Stewart,
meat market, were burned. Most of
the stocks wero lost and tho buildings
totally ruined. The aggregate loss is
estimated at 8100,000, with possibly
SRO.OOO insurance.
A WOlt KM AX DECAPITATED.
New Yoiik, Jan. 4. While at work
on tho underground cable and trolley
:systetn at Fourth avenue and Twenty
'Thlrd street tho head of James Kce
gan was severed from his body, pre
jsumaoly by tho sharp metal shoo of a
'trolley car. Tho decapitation was per
formed as neatly as if a keen-edged
lenifo had been used. Tho accidqnt oc
curred whilo tho finishing touches
were being made on tho underground
system at the crossing of tho two
thoroughfares. Kcegan was alone at
the time working in a dark chamber
covered with planks. No ono had
been stationed to warn tho young man
of approaching cars, and the only
light in tho dark hole filtered down
through tho cable slots.
FATAL ACCIDENT IN A COTTOX OIX.
GuTiiniE, Ok., Jan. 4. At a cotton
gin located at Anvil, Lincoln county,
John Bovarnlck was caught in the
shafting and hurled against tho wall
with great force, fracturing his skull
and breaking his arms. Ho will die.
A GIGANTIC DEBT.
Grentor Now York' Financial Obligation
Uracil tho KiiormouH Sum or !i7,infi,
5S0, New Yokk, Jan. 4. Mayor Van
Wyck's mc&sitzo to the municipal as
sembly, which was read upon tho or
ganization of that body, treated at
length of tho financial condition of
tho greater citj. Tho document was
accompanied by longtliy tables, fur
nished him by tho comptrollers of New
York, Brooklyn, Richmond and Queens.
Tho figures indicated a net funded
debt of 8227,155,520, and an assessed
valuation of real estate of tho entire
city of S2,401,70:,102.
A STARTLING DISCOVERY.
All SlOO Rllver CrtHlcaten, KoprciU'ntlnc
820.000.000 In Currency,, to Jto Called
In.
Wasiiixgtox, Jan. 4. All of tho S100
silver certificates now in circulation
in tho United States, representing $10,
000,000 in currency, have been called
in by Secretary of tho Treasury Qagc.
For tho present tho issuance of such
certificates will bo stopped. This or
der is the result of tho discovery of
one of the most dangerous counterfeits
ever discovered ono which oven
deceived tho ofllclals of tho
treasury department here, and
was not discovered until tho attention
of the ofllclals at Washington was
called to tho clever imitation of n S100
silver certificate, head of President
Monroe, by John Cramer, of the sub
treasury at Philadelphia. Mr. Cramer
brought to tho secret service officers
tho counterfeit certificates, five in num
ber. These bills had been turned into
the sub-treasury by two leading banks
and tho Philadelphia custom house,
which had received them as genuine.
In viow of tho dangerous character
of tho counterfeit, Secretary Gage de
cided to stop issuing and to call iu all
S100 silver certificates. These will bo
exchanged for silver certificates of
smaller denominations, and tho plates
destroyed. As soon as now plates can
bo engraved a new series will be issued.
Assistant treasurers at all of the sub
treasury cities will bo requested to
send to tho treasury in Washington all
S100 sliver certificates in their posses
sion, and to request all banks, trust
companies and other moneyed institu
tions to do the same.
Secretary Gage desired the statement
mado that in his judgment it was uu
safo for business men or others to ac
cept silver certificates of this denomi
nation, and in case any were now on
hand they should bo sent to tho banks
for transmission to Washington.
AGAINST HANNA.
lit Republican Kneinln nnd Democrats
Organize Until Oblo House.
Coi.umhus, O., Jan. 4. Representa
tive Mason, antl-Hanna republican,
was elected speaker of the house on
tho first ballot. Mason received the
47 solid votes of tho democrats and
these were reinforced by tho votes of
nine antl-Hanna republicans. If these
men refuse to vote for tho rc-olcction
of Senator Hanna, his defeat is certain.
He had pinned his faith toBoxwell for
speaker and decided to stand or fall by
him. The test voto was 50 to 52 In
favor of anti-llanna men.
Senator Burke, of Cleveland, was ab
sent when tho senate was called to
order, and the democrats organized
and secured control of that body. Alex
Caine for clerk and other Hanna can
didates were defeated, the vote stand
ing 18 to 17 against Hanna.
Tho election of a United States
senator sccins now to depend upon the
democrats. The antl-Hanna repub
licans have accomplished all that
Charles L. Kurtz promised. They have
secured enough of tho republican
members of the legislature to stand
against Mr. Hanna united with
tho democratic minority to de
feat him. Will the democrats be able
to control their entire force and
deliver it to Mr. Kurtz to bo used in
electing an anti-IIanna republican?
This is the great question now. An
other minor question is whether Mr.
Kurtz will bo able to keep his men in
line. Tho Banna managers are ar
ranging to bring tremendous pressuro
to bear upon tho bolters.
OPPRESSOR OF CHINA.
1,1 Hung Cluing Hectare Tlmt Thin Act of
War In Wholly Unwarranted.
New Yokk, Jan. 4. The Herald pub
lishes an interview its correspondent
obtained with Li Hung Chang in
Pekin, Sunday. Li said:
Tho forclblo occupation of Kino Chou by
Germany Is a direct violation of existing trea
ties niul of International lnw. Tho pretext
mndo for this act of w.ir was tho murder of two
missionaries by robbers In tho Interior of the
provinces of Shan Tung. Tho Chinese
government offered lmmdedlato and full re
dress for this outrage, punishment of tho crimi
nals, dismissal of the local ofllclals and large
compensation for all losses. Anxious to avoid
hostile acts, tho Chinese troops wero withdrawn
from Kiao Chou when the Germans landed, and
In spite of strong publio fcollng prevailing
throughout tho country for tho defense of the
Chinese territory against agression, my gov
ernmont has not sent relnforcemonts to Kiao
Chou.
Outlaws exist in China, ns In nil countries.
Neither treaties, law nor religion can en
tirely suppress crime unywhoro in tho world,
though they condemn and punish tho crim
inals. Thero nro places in every coun
try where lawlessness abounds, nnd to
Mich a plnco as Shan Turn; tho Oer
ninn missionaries determined to go,
knowing that tho Inhabitants them
selves wero often victims of theso bandits.
Unfortunately, China has not yet recovered
from tho effects of tho Into war, and our coun
try requires a period of peace to carry out tho
work of reform lately begun.
Working for it Koprlovn for Durrant.
Sax FitAXcisco, Jan. 4. Theodore
Durrant's attorneys will again seek to
obtain the aid of tho federal courts
and will ask Judge Morrow for a writ
of habeas corpus. Whilo this legal
contest is being conducted, another
appeal to Gov. Budd will bo perfected
in the hope that ho will bo induced to
grant Durrant a reprieve until all tho
legal points at issue have been fully
determined.
May Unltn AlctliodlNt ClnirclmH,
Wasiiixgtox, Jan. 4. Friday next
about 150 delegates representing tho
Methodist Episcopal church and tho
j Methodist Episcopal church (south)
will meet in joint session here. It
will bo tho first fraternal meeting in a
quarter of a century of tho two divi
sions of tho church, and Its object Is
. to reunite all the Mothodists under
one banner.
NOTHING BUT IfBEEDOM.
Gen. Gomez Says Insurgents Will Not
Accept Autonomy,
No Objection to an American Protectorate
Offer of Autonomy nil Insult to
Patriotic Soldier Cuban Stio-
ceii Predicted.
New Yokk, Dec. 31. A correspondent
of tho Herald has just returned to Ha
vana after having visited tho cnino of
Gen. Gomez. After a long and jjfcrll
ous rido through country infested with
Spanish troops, ho reached Gen.
Gomez's camp on December 18, and
found tho general in excellent health
and spirits. Tho correspondent put
before the general tho programme of
autonomy in order to secure his opiu-
GEN. MAXIMO qOMEZ.
ion. Tho general smiled contemptu
ously, after glancing over a copy of an
Havana paper containing tho terms,
and said:
Thoro Is no uso wasting tlmo in discussing
theso terms. It makes no dlflercnco whether
thoy may bo regarded ns liberal or not. Tho
fact remains that wo aro not Hunting for auton
omy, but for independence. This Spain seems
utterly unnblo to realize. Wo havo been told
that tho autonomy offor Is an net of liberality
by tho mother country to induco tho patriots In
nrms to resume their allegiance to Spain. That
is worso than folly. It Is an Insult to tho men
lighting for freedom. Thero Is not in tho Cuban
army ono ofllcer so baso as to accept such
terms. Wo will not oven listen to any over
tures nnd any person entering our camps for
such a purpose will bo put to death In accord
ance with my general orders.
Continuing, Gen. Gomez said that ho
had no faith in the ability of Spain to
Immediately plant autonomy, even In
the sections under Spanish control,
but whether she succeeded or not, the
matter was of no moment to the men
in tho field, who would continue to
fight, animated by a love of freedom
and an absolute confidence in ultimato
success. The correspondent asked
Gen. Gomez for his opinion as to Amer
ican intervention and jo annexation
of Cuba to tho United States. He re
plied: Intervention docs not necessarily imply an
nexation. I would Kindly accept tho former, as
I would accept aid from any quarter, although.
I bollcvo If loft alono wo will nchlovn our own
Independence unaided, nnd I am loath that wo
should bo robbed of nny sharo In tho honor of
tho expulsion of tho Spaniards. As far as un
noxatlon is concorned, I cannot admit its pos
sibility. To that proposition I make tho samo
reply as I do to tho autonomy plan that our
object is independence. Wo havo among us
young men who havo sacrillced everything to
this sacred cause. For myself, I am an old
man, who now has but ono object in life, nnd
that is to seo tho flag of Cuba supremo from
Capo Mays! to Sun Antonio.
Wo havo already mado fearful sacrifices and
wo stand ready to make moro In order to
nchiovo this glorious end. I know that tho
pcoplo of tho United States will never balk us
In this, our hour of victory. Tho Idea of arbi
trary annoxntlon of this territory is Inconsist
ent with tho principles upon which tho Amer
ican ropublic is founded. If In the future, after
Cuba has won her freedom, and it is demon
strated that sho Is capable of solf-govornment,
it became apparent that her interests would bo
ndvnnccd by Incorporation into tho United
States. I would bo tho last to objeut if an ap
plication should bo mndo for tho honor of ad
mission to tho great sisterhood of states. That
Is n very different thing from annoxntlon.
Abked as to his views on an Ameri
can protectorate over the island, Gen.
Gomez replied that he had no objec
tion, believing it would carry a guar
antee of peace at home, with the re
spect of all nations, and would permit
Cuba to work out her destiny under
the most favorablo conditions. Jn re
turn, he believes that Cuba should, in
her commerce, favor tho United States
above all nations.
WOULD DISPENSE WITH THEM.
I'mixlon CominlAHlnntir titans WimtH tho
IlmliH-HN of AttornojH Cut )(T.
Wahiiixotox, Dee. 111. Commissioner
of Pensions Evans has been giving some
attention to a proposition whereby tho
services of pension attorneys engaged
in the prosecutions of claims before
tho office may bo dispensed with and
their work done by officials under gov
ernment supervision. Informally ho
has been discussing tho matter with
members of tho house committee on
invalid pensions, but is not yet pre
pared to outline the details of his plan.
The present system, he says, is wrong,
and should havo been done away with
long ago. Discontinuing the services
of tho attorneys would result in a
great saving to both pensioners and
tho government, and liability tofrauds
In issuing pensions would bo reduced
to a minimum. Under government su
pervision, tho pension bureau would
havo direct control of tho persona ap
pointed to look after tho cases, whoso
business it would be to see that all
honest claims were promptly and In
telligently presented. The commis
sioner notes tho fact that 813,500,000
lias been paid out during tho past 13
years to pension attorneys by appli
cants for tho prosecution of their
claims.
st, louis sub-treasury.
Btnny Hunker Think tho Onvcrmutmt'a
Hnrnlu Should Iln Dnponltml Thorn.
St. Louis, Jan. 1. In response to an
inquiry yesterday Chiof Clerk C. G.
Richer, of tho St. Louis sub-treasury,
Bald:
Flvo months ngo thoro win on doposlt In tho
Now York sub-treasury 108,000.000 of gold nnd
Mlvcr and In tho national treasury at Washing
ton til 1,000,000. Wo had nt tho Hnmo tlmo on
doposlt In tho St Louis sub-treasury n'S.OOJ,
000, which Is about tho limit of ono vnult ca
pacity. Tho amount now on doposlt hero of
bullion Is about $18,000,000, If this olty wero
mndo tho depository for nil tho bullion, lm
inciiflo vaults would havo to bo constructed
horo and I think It possible tho money could bo
nccommodntcd without tho necessity of n sopa
rato building. In othor words, wo may havo
tho vault room, but not noar enough vaults.
A number of prominent bankers and
others who wero seen expressed tho
belief that it would bo n good thing to
havo tho surplus gold and silver owned
by tho government deposited here, but
fow of them agree with Congressman
McCulloch that thoro is any danger of
its selzuro even In the event of war
with some otiier country.
NEAL CASE REVIVED.
Montana Ncgronn Making Ionprnto Tit'
forU to l'rnvrnt iTiihinioit'it Kxtrndltlou.
Butte, Mont., Jan. . The negroes
of Montana aro making a renewed
effort to prevent tho extradition of
Joseph C. Johnson, who Is making a
hard fight to cscapo being taken back
to Missouri, whoro ho Is wanted for
eloping with Kate Neal, a white girl
of Sweet Springs. It is said that John
son's attorneys aro in receipt of a let
ter from Miss Neal, which was written
from Kansas City, after her roturu
there, in which she asserted that John
son was in no wiso to blnmo and that
sho brought tho wholo trouble on her
self by following him about Sho
claimed to havo como west with John
son without uny solicitation from him.
Johnson is not a married man, ns has
beeil stated.
GIANT PAPER TRUST.
It Will Havo n Capital of SfiO.OOO.OOO mid
"Will Control All tlio lllg 141 UU.
Ami ax v, N. Y., Jan. 3. Tho state
ment Is made that tho print paper
manufacturers havo perfected their
combination and on January 14 will
formally tako possession of the vari
ous mills which aro included In tho
trust- The now company will bo
known as tho International Paper
company, with a capital stock of 850,
000,000. Thero arc now 10 companies In
the combination. The aggregate
capacity of these mills Is 1,1187 tons a
day. Thero are five other mills which
will eventually come into the combina
tion. In all probability tho smaller
mills will bo shut up unless tho con
blnntion should bo driven to tho full
production of tho plants uuder its con
trol. AUTONOMY A FAILURE.
I'reMdent Has Hocelved' Ailvlco t0ll" Kf
fct from Consul General 1,0
WASIIIXGTOX, Jan. !). Autonomy in
Cuba is already a failure, and tho ad
ministration has boon officially in
formed of tho fact. The reports will
not be submitted to congress, at least
for tho present, for fear of an out
break of indignation, but the informa
tion is in the hands of the president,
and he begins tho now year face to faco
witli tho necessity of adapting his Cu
ban policy to rapidly changing condi
tions. Consul General Lee and every
consular oilicer on tho island has sent
in reports that although the schomo of
autonomy might havo been temporari
ly successful last year it is impossiblo
now.
SURPLUS FOR DECEMBER.
Government Kecolpt Worn Nearly Two
million In KxcoHH of Kxpi-nditiire.
Wasiiixotox, .Fan. 3. Tho total re
ceipts for tho month of December
amounted to 850,010,008, and the ex
penditures S'J7, 0115, 000, which leaves a
surplus for tho month of 532,551,00s.
These figures, however, include
tho receipts and payments on
account of tho Union Pacific
transfer. Independent of tho Union
Pacific account tho surplus this
month is 81,73(5,41)1. For tho six
mouths of the present fiscal year, ex
clusive of the Union Pnclfic payments,
thero is a deficit of 41,105,000, but in
cluding tho Pacific payments thero is
a surplus of 505,151.
NO GOLD STANDARD.
China Will Not Adopt It for Fear It Would
Jujurn Doiuurttlo Trade.
Tacoma, Wash., Jan. 3. Li Hung
Chung has decided that China will not
adopt the gold standard. The matter
was recently brought up by a largo
number of wealthy Chinese, who woro
earnestly in favor of a singlo gold
standard. The proposition was referred
to LI Hung Changf who decided that,
while the commercial interests of China
in her relations with othor countries
might be subserved by tho singlo gold
standard, it would bo detrimental to
her domestic trade, which was of far
tho greater importance.
OSAGES ARE EXTRAVAGANT.
HtutUtlcs Show Tlmui tit Iln tho WealtbleHt
of Indian Tribes.
Ciiki.ska, I. T., Jan. 3. Statistics not
only reveal that tho Osage Indians aro
the richest Indians In tho world, but
the most extravagant. Annually for
tho past four years they havo drawn
about S350 per capita and now they
have nothing of value to show whore
their money all went to, but are in
debt to the traders to tho extent of
6150 per capita. Thero aro 1,000 Osagcs,
000 being full-bloods. Thoy havo a
trust funtr of 83,500,000.
IT PRESENTS ITS PLAN.
Main Points in tho Roport of tho
Monetary Commission,
I'rcncnt Wlml It Connltlern to lie De
fect In Our Ireacnt Currency
Syatfiu, niul MiiRRcntM How It
May lie Hcforneil.
Washington, Jan. 3. The report of
the monetary commission appointed un
der authority of the convention of busi
ness men held in Indinnnpolls hist Jan
uary has just been made public. Fol
lowing Ib u synopsis of the document:
It retains practically unchanged tho ex
isting motnlllc money. Tho existing gold
standard on which business ban been dono
since 1879 la tnalntnlncd, on the ground
that tho Industrial Interests demnnd cer
tainty as to what tho standard shall bo.
To this end, it Is urged that the United
States shall remove all uncertainty as to
tho meaning of "coin" In Its obligations,
theroby saving tho taxpayer by tho ability
to borrow at a low rate of Interest. No
attempt Is mado to romovo tho existing
sliver dollars, nor to chango their legal
tondor quality; on tho contrary, a plnco
is provided for them In tho circulation by
forbidding the Issue of any paper money
other than silver certificates In denomina
tions below ten dollars.
A DunircrouH I'rnetlcc.
It Is regarded by tho commission as dan
gerous to maintain tho present practlco
of using government demund obligations
as money. They wero Issued ecauso thoro
wero no resources In tho treasury; and
so thoy depreciated, drovo out gold, fur
nished a fluctuating standard, Increased
tho national debt enormously, caused a
chango In prices whenever tho credit of
tho paper standard fluctuated, nnd by
causing unexpected changes In the level
of prlcoB gavo rise to extraordinary spec
ulation, Increased tho severity of com
mercial crises, and placed tho small pro
ducer at a disadvantage with tho largo op
erator. .Should lie W'ltlidruvrn.
For these and othor reasons tho comml
slon strongly urgo tho government to with
draw Its demand obligations now used aa
money, dccllno to provide gold for ex
porters and put tho burden and expense of
maintaining a redeemablo paper circulation
upon tho banks. In order to meet tho de
mnnd obligations, tho present reserves of
gold In tho treasury furnish a suillclent
sum to bo sot asldo In the division of lssuo
and redemption; and to meet posslblo con
tingencies tho secretary of tho treasury la
authorized to sell bonds whenever tho re
Bervos need replenishment. In this way,
or from surplus revenue, the demand ob
ligations (that Is, United Statea notes and
treasury notes of 1890) can bo removed In
such a way that tho cost to tho country
can bo reduced; whilo this will also give
tho lncntlmablo advantage of ceasing to uso
demand dobts as money, simplifying our
currency, and nddlng to confidence In tho
certainty of our standard. Ily tho plan
of tho commission tho withdrawal of gov
ernment paper Is so arranged that con
traction cannot possibly tako place; If
United States notes aro canceled their placo
will bo taken by tho gold paid out for them,
or by tho expansion of bank notes (under
tho new system proposed). 1
Gooil Word for tlio lliiiiK; tfotc.
The demand obJIpnilQna bt the United
Slafes w6Fo hot aT.tor.Sy bused M prop"-'
orty; they wero only a debt. On the othor
hand, a bank note Is never Issued (fraud,
of course, cxdudrd; except lor a consldern;,
Hon In negotiable properly of equal or
greater value. The bank note comes forth
as tho sequel to a business transaction,
nnd Is based on the active property of tho
country which Is pnflslng between pro
ducers and consumers. This property Is
alwayB negotiable and always equal to tho
duty of meeting tho noto liability. Dank
notes are as Bound as tho business transac
tions of the country. The curroncy of tho
country, moreover, should Incrense ns tho
transactions of tho country Increase; henco
the rigid unchanging Issues of tho gov
ernment make thorn an Inolastlcpart of tho
circulation, whilo by tho very process of
tliolr Issue bank notes alone can bo au
tomatically adjusted to tho changing trans
actions of the business community.
To Secure AltHOIute Safety.
In amending tho present national bank
ing system, tho commission wero actuated
by a desire to sccuro absolute safety to
tho note-holder; to mnko tho notes uni
form nnd of equal currency In all parts of
tho country, to create an elastic system,
which, whilo expanding In responso to in
creasing transactions, should healthily con
tract when transactions diminish; and
which would help In a better distribution
of banking facilities throughout tho west
ern and southorn states.
In view of tho scarcity of United States
bonds, they cannot long be regarded as a
basis of circulation. Moreover, any bond
security of a high character yields a low
rate of interest; and In a time of stringency,
when borrowers need loans nnd tho mar
ket rate of Interest Is high, thero Is no In
ducement to buy theso bonds to Increase
circulation. Hence, under tho present sys
tem, when notes should bo most needed,
It Is least profitable to Issuo them.
I'luii of the CoiiiiiiInnIoii.
While providing for a pnrtlnl use of
bonds for securing notes (2D per cent, of tho
capital) tho commission proposed that
notes beyond this should be Issued on all,
Instead of a part of, the resources of a bank;
and within a few years that no special
bond security should bo required. Hanks
may Issue notes up to CO per cent, of their
cnpltul without restraint; for Issue be
yond CO per cent, and up to SO per cent,
they pay a tax of two per cent.; for those
beyond W) per cent, and up to 100 per cent,
they pay a tax of six per cent. Theso notes
would be a prior Hen upon all the resources
of tho bank, and, in addition, upon tho
stockholders' liability. Moreover, all banks
Issuing notes contribute flvo per cent, of
their circulation as a pormanent guaranty
fund. For dally redemptions, banks should
keep a live per cent, redemption fund In
tho hands of tho comptroller of tho cur
roncy. Hanks of 25,uOO capital may bo
established in places of 4,000 Inhabitants;
and branches of banks aro also permitted.
A Story of HotliNcliUU.
Here Is n good story of Lord Roths
child, head of the Hebrew community
in London. He once received a Chris
tian visitor on some ticklish question
of business, and the talk between the
two at last became heated, his lordship
losing his habitual calm nnd flaring
up pretty fiercely. "Well, my lord,"
said liia visitor, reining in with a de
sire to throw oil on the troubled waters,
"I hope you urc not going to eat me."
"My religion forbids me," returned hla
lordship, with quiet scorn, which was
ns nenr a way of calling a man a pig aa
could well be. -Philadelphia Press.