Nebraska Newspapers

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TUB OMAHA DAILY BEJIk VJEDNESDAY , DECEMBER 5 , 180-1.
during the last two years to Impair the
credit of the government and the people of
the United States at homo and abroad and
to check our Industrial and commercial
progress , more than all other things com
bined , and our first and plainest duty is to
provide , If possible , some effective method
for the prtmpt and permanent relief of the
country from the consequences of the pres
ent unwise policy. A brief statement of
the practical and unavoidable results of the
existing legislation will demonstrate Its In
jurious effects upon our'financial affairs nrre
clearly than any argument that could bo sub
mitted. "
ABOUT THR BOND ISSUES.
The secretary then" reviews the circum
stances leading up to the first $50,000,000
issue of bonds as a means ot replenishing the
gold reserve , yielding $58,060,917 and In
creasing the free gold In the treasury to
J107.44C.802. The lowest point reached by
the reserve since the resumption cf specie
payments wai on the 7th day of August ,
1891 , when by reason of withdrawals In the
redemption of notes It was reduced to $52-
189..BOO. "Aftor that It was slowly re
plenished by voluntary exchanges of gold
c-ln for United States notes by the banks'
and by small receipts of gold In the payment
of duties to the government until the 14th
of November , 1891 , when It reached the sum
.of $61,878,371. In the meantime , however ,
the frequent presentation of notes for re-
dcmpll'n In gold by Individuals and Institu
tions not desiring It for export clearly indl-
jcatoil the existence ot a feeling ot uneasiness
In the public mind , while foreign exchange
was almost constantly at or near a rate
which made It more profitable to expert gold
than to purchase bllh , and conscqently with
drawals for shipments were dally threatened.
In addition to these causes of anxiety the
vast accumulation of money at our financial
centers and the general depress ! n In busi
ness which prevailed In tills country had so
reduced the rates of discount that the In
ducement to keep funds abroad , where bet
ter Investments could be made , were much
greater than In ordinary times , and this ,
together with the other facts stated , made It
highly Imprudent to neglect any precaution
which appeared necessary to Insure the safety
of our financial position. Therefore the
second Issue ot $50,000,000 was decided upon.
For this Issue , proposals for which were is
sued last month , 480 bids were received ,
amounting to $178,830,050 , nearly all of-which
were at rates which would yield to the In
vest r 3 per cent or less. One bid was for
the whole sum of $50,000,000 upon the basis
of 2.878 per csnt. and being the most ad
vantageous offer for th i government that was
made , either singly or by agiregatlng the
separate bids , was accepted , and the pro
ceeds of the sab , $53,533,500 , have nearly all
been paid Into the treasury ncctrdltig to
the terms of the sale. The transaction
Justified the opinion that a 2 % per cent bond
having reasonable time to run could probably
have been sold at par , and certainly that a
3 per cent bond could have been dlspcsed of
at or above that rate.
"As the authority to Issue and sell bonds
already exists and" the present state of our
financial legislation compos its occasional ex
ercise , I repeat the rec mmemlatlon made In
my last annual report that In the Interest of
the government and people power be con
ferred upon the secretary of the treasury to
negotiate loans at a lower rate of interest
and f r a shoitr time than are naw allowed.
The existence of such authority Instead of
increasing the probability of a frequent resort
to that means of raising money w , uld
have the contrary effect , because when the
secretary of the treasury Is clothed with
ample power and facilities to procure means
for the maintenance of the reserve , public
confidence In the ability of the government
to meet promptly all demands upon It will
1 bo much stronger than under present cir
cumstances. Besides the policy of limiting
the government to the sale of an antiquated
bond bearing a rate of Interest wholly Incon
sistent with the existing state of the pub
lic credit and having a longer time tq run
than ts apparently necessary at the date of
Us Issue cannot bo Justified , .
ASKS FOR MORE POWERS.
, "Tho law should be so amended as to conform -
-form to the conditions and requirement ! of
the pub'.lo credit and service at the present
Ime. and I earnestly hope that congress will
, take early and favorable action upon this sub
let. So long as there are In circulation
jynder the authority of the government two
coins unequal In value , but equal In legal
litpnder qualities , every consideration of good
faith and sound policy requires the prompt
.redemption of the notes on presentation In
-the kind of coin demanded by the holder , and
, the constant observanca of such administra
tive methods as may be recsssary to pre
serve the purchasing power of the less valu
able metal. This Is essential to the con
tinued circulation of our standard silver dollars -
lars and their paper representatives at par ,
dwd to abandon this policy without sub-
-stltutlng a better ono In Its place would not
.only fall to euro many of the evils now ex-
Jstlng , bnt would entail upon the people of
.the country additional and greater ones.
Thla situation I.s the necessary result of these
.features of our currency legislation , and It
.cannot be permanently avoided , or even tcm-
'Pararlly ' Improved without material changes
In our laws relating to that subject. Thess
features are :
" 1. The circulation' ' of United States notes
as currency , and their current redemption In
coin on demand.
" 2. The compultory relssuo of such notes
after redemption.
" 3. The excessive accumulation and coinage
t sliver nnd the Issue of notes nnd cortlfl-
cates against it upon a ratio which greatly
overvalues that metal as compared with the
etandard unit of value In this and the other
principal countries.
"Frequent Issues of bonds for the purpose
of procuring gold , which cannot bo kept after
U has been obtained , will certainly cause In
creased distrust among our own people as
Well.as among the people ot other countries ,
nnd not only swell th
? yqlmne of our se-
Vjurltles returning from abT-oad , for sale or
redemption , but Increase the withdrawal ot
foreign capital heretofore Invested In our
domestic enterpriser.
1 "Ordinarily when there is no distrust of
our currency or other discouraging Influence ,
a considerable part of the Interest and dlvl-
'dends earned by foreign capital In this coun
try is annually or seml-annua'ly reinvested ,
and this , together with the fact that under
normal conditions the bal.inci ot trade Is
In our favor , enables our people to meet their
obligations abroad wlthojjt reducing their stock
ot money at home. But when distrust arises
either a to our ability to pay or as to the
value of the money with which wo Intend to
pay , the foreign capitalist not only ceases to
reinvest , but proceeds to withdraw all hla
money by disposing of his American securi
ties in order to protect bath capital and In
come ngalnst threatened depreciation. There
are but two ways lu which this withdrawal
can ba affected ; one Is for our people to ex
port and sell their commodities in foreign
markets to a lufflclent amount to create a
balance of credit tn their favor equal to the
amount to ba withdrawn , and. the. other is to
ship gold , that being the only money recog
nized In the settlement of the International
balances. v
MAINTENANCE OF GOLD STANDARD.
"But Independently of these considerations
our own people have tv clear right to demand
ft sound and stable currency for usu In the
transaction of their business at home , while
their purely commercial relations with the
people of other countries upon whom the
producers of exportab'e commodities are com
p lied to rely for tha consumption of their
surplus , cannot be profitably maintained
pnless they are alwayj In a condition to pay
for what they buy In as good money as they
receive for what they sell. We cannot
therefore preserve our trade relations with
the best customers tor our surplus products
unless we maintain a monetary system sub-
' stantlally in accord with thcln. and until
they manifest a disposition to co-operate
with us In effecting a change upon terms
Just and fair to all our Interests , wo ought
to continue our adhesion to the gold stand
ard otalue with as largea use ot silver as
U consistent with the strict maintenance of
that policy. Since the resumption of tpecla
payments United States legal tender and
treasury notes ao redeemed have been re
issued and are now outstanding. They are
a constant menace to the-gold reserve and no
Echome ot financial reform can be compleU
or effectual which does not provide at least
for their gradual elimination from our cur
rency system. I am convinced that the In
terests ot the country require such changes
In our legiilatloo as will dUchargu the cor <
eminent entirely from tba buslnett of
Issuing or reissuing circulating notes , and thuu
reller * Its fUcal department ot the periodical
demands on Its resources which under the
exlitlng system must contlnua to disturb the
financial and general business affairs ot the
people
"Arn trary regulation ot the. volume of clr-
nutation to be kept cutatandlug U wholly In-
consistent with the malntcnanca ot a healthy
Inanclal condition nnd Is the exercise ot n
'unction ' which dees not properly belong to
.ho government or any other public author-
ty. Its effect Is to ( orco paper currency
upon the people when It Is not needed and
deprive them of It when It Is needed , thus
establishing and maintaining an Improper
and unwarranted connection between the gov
ernment and the private business affairs of
ts citizens and their successful prosecution
argely dependent upon the judgment or
caprice of a superior authority having no In-
orost In the transaction , except , perhaps , a
mrtltan Interest not In harmony with scund
Inanclal arrangements.
PRESENT METHOD HAS FAILED.
"Under our present currency system , so far
as It consists of notes Issued by the United
States government , the volume ot circulation
was Intended to bo and Is In fact unchange
able. It Is unalterably fixed at a certain
anuunt , and no matter how great the
emergency may bo It can bo neither enlarged
nor diminished. The only part of the cur
rency possessing In any degree the quality
if elasticity Is that Issued by the national
banking associations , and It ts now generally
conceded , I believe , that in this particular
at least It has failed to meet the requlro-
ncnts of the situation at 4omo of the most
critical periods In the business affairs of the
country. Its failure Is creditable. In my
oplnlcn , to those principal causes :
" 1. To the large volume of United States
currency of various kinds kept constantly
outstanding , making the contraction or ex-
lansion of the comparatively small national
rank circulation less effective than it would
ctliorwlsa have been.
" 2. The difficulty and delay In producing
and , to some extent , In retiring clrulatlon.
" 3 ( and mainly ) . The provisions of the law
which require the- deposit of United States
jotuta to eccuro circulation and restricting
.ho Issue cf notes to 90 per cent ot the par
value of the bonds.
"With $ ! )00,000.000 ) In United States notes ;
treasury notes of 1S90 , sliver certificates and
gold certificates , besides about $625,000,000 In
; old and silver coins constantly outstanding ,
none of which can be lawfully retired by the
government without the substituting ot ether
currency in Its place , tha national bank notes ,
which amount to only $207,500,000 , or about
12 per cent of'tho whole , cannot exert a very
effective Influence upon the volume of out-
itandlng currency at any time , especially at
: lmes when largo contractions or expansions
are most needed , but the greatest ilifllcultles
are encountered , and the national banking
system as now organized Is least effective
when the business of the country demands
quick cxpaneLns ot the currency to meet
sudden emergencies.
"In addition to existing obstructions to the
prompt Increase 'and decrease of circulation
.lie ninth section of the act of July 12 , 1882 ,
which provides for the extension ct the cor
porate existence of national banks , expressly
prohibits them from retiring their notes to a
Greater amount than $3,000,000 In the ag
gregate per month and advocates that no
bank which has made a deposit of lawful
money In order to withdraw its circulation
shall be permitted to make any Increase In
its circulation fcr a period of six months
[ hereafter. These provisions are so mani
festly in conflict with the dictates cf sound
policy that they require no comment.
OUTLINES OP THC NEW PLAN.
"In view ot the foregoing considerations and
many others that might bo urged in favor
of a reorganization and formation of our
paper currency system I have prepared the
outllnea cf a. plan which , In my opinion , will
relieve the government to a great extent
from the burdens now imposed upon it EO-
cura within a reasonable time a safe and
elastic national and Btato bank currency
nnd result ultimately In the permanent re
tirement of United States legal tender notes
of various classes. It is , in brief , as follows :
" 1. Repeal all laws requiring or authorizing
the deposit of United States bonds as se
curity for circulation.
" 2. Permit national banks to Issue notes to
an amount pot exceeding 75 per centum of
their paid up-and unimpaired capital , but
require each bank before receiving notes to
deposit a gua.-anty fund , consisting of United
States legal tender notes , Including treasury
notes of 1890 , to the amcunt of 30 per centum
upon the circulating notes outstanding to be
maintained at all times , and whenever a
bank retires Its circulation Its guaranty fund
to be returned to It In proportion to the
aracunt of notes retired.
" 3. Retain the provls'on of the law making
stockholders individually liable and provide
that the circulation notes shall constitute a
first lien upon all the assets of the bank.
" 1 Impose a lax of one-half of 1 per centum
per annum , payable seml-annually , upon the
averags amount of notes In circulation to
defray the expenses of printing notes , ot the
supervision , cancellation ; etc.
" 5. No national hank note , to be of less
denomination than $10 , and all notes of the
same denomination to bo uniform In design ,
but banks desiring to redeem their notes In
gold may have them ma-'e payable in that
coin. The secretory of the treasury to have
authority to prepare and keep orv-liand , ready
for issue upon application , a reserve of
blank , national bank notes for each banking
association having circulation.
" 6. Require each national banking insti
tution to redeem its notes at its pton ofllco or
at its own omclal agencies , to be designated
by it.
" 7. To provide a safety fund for the im
mediate redemption of tha circulating notes
of failed banks , Impose a tax of per
centum per annum upon the average circu
lation of each bank until the fund amounts
to G per cent of the total circulation out
standing. Require each new bank and each
bank taking out additional circulation to
deposit Its proper proportion of this fund
before receiving notes. When a bank falls
Its guaranty fund held on deposit to be paid
Into the safety fund and used In the re
demption of Its notes , and If this fund shall
be Impaired by the redemption of the notes
of a failed bank .or banks to 'reimburse the
atcly available cash assets of sucli banks are
Insufficient to establish the fund , it shall at
once bo made good by pro rata assessments
upon the. other banks , according to the
amount of their outstanding circulation , but
there shall be a first Hen upon all the assets
of a failed bank or banks to reimburse the
contributing banks. The safety fund may
bo Invested In outstanding United States
bonds having the longest time to run ; the
bonds and the interest upon them to be
held as part of the fund and sold when
necessary to redeem notea ot failed banks.
"S. Repeal the provisions ot the reorganiza
tion and extension act of July 12 , 1892 , Im
posing limitations upon the reduction and
increase of national bank circulation.
" 9. Repeal all provisions of the law re
quiring banks to keep a reserve on account
of deposits.
" 10. The secretary of the treasury may , In
his discretion , use any surplus revenue of the
United States in the redemption and retire
ment of United States legal tender notes ,
but such redemptions shall not In the ag
gregate exceed an amount equal to 70 per
cent of the original circulation taken out by
national and state banks under the system
herein proposed ,
" 11. Circulating notes Issued by a banking
corporation duly organized under the laws
of each state , and which transacts no other
than a banking business shall bo exempt
from taxation under the laws of the United
States when It is shown to the satisfaction
of the secretary of the treasury and the
comptroller , (1) ( ) that such bank at no time
had outstanding circulating notea In excess
of 75 per cent of Its paldup and unimpaired
capital , (2) ( ) that Its stockholders are Indi
vidually liable for the redemption of Its
circulation notes to the full extent of their
ownership of stock , (3) ( ) that the circulating
notes constitute by law a first lien upon all
the assets of the bank , ( < ) that the bank at
all times have the guaranty fund In United
States legal tender notes. Including treasury
notes of 1890 , equal to 30 per centum of Its
outstanding circulating notes , and (5) ( ) that
It has promptly redeemed Us notes on de
mand at Its principal office , or at one or
moro of Its branch offices. It It has branch * ! .
" 12. The secretary of the treasury may ,
under proper rules and regulations , to be es
tablished by him , perm.it state banks to pro
cure and UEQ In tha preparation of their
notes the distinctive paper used In printing
securities , but no ttate. bank shall printer
or engrave Its notes In similitude ot a
United States note , or certificate or national
bank note , .
RETIRING UNITED STATE3 MONEY.
"Whatever may be. tha objections to the
Issue and circulation of United States legal
tender paper upon either constitutional or
financial grounds , It has become so Incor
porated Into our currency system and con
stitutes so largo a. part of our active circu
lation that It could not ba suddenly with
drawn without producing , Jn the ptesent
state ot our laws , considerable disturbance
In the financial operations ot the govern
ment as well as th business ot the people ,
and , therefore , the plan now suggested pro
vides for Its gradual retirement by the use
of surplus revenues hereafter received , a
process which will probably require toveral
years for Its completion. As these notes
cannot be retired until other forms of cur
rency to an equal amount have token their
place , there will bo neither a forced con
traction nor expansion of the circulation on
account of the change.
"As the plan suggested proposes to exempt
the government of the United States from
all liability for the redemption of national
jank notes and place the solo responsibility
upon the banks themselves , a guaranty fund
of not less than 30 per centum upon the out
standing circulation Is regarded as a very
proper and necessary feature of the system ,
tn my opinion the Imposition of a tax by the
'edcral government upon the Issue ot circulat
ing notes , lawfully ( sued by state banks , Is
an unjustifiable If not an unconstitutional In
terference with the authority of the several
states ; but Its validity has been Judicially
sustained and as It does not appear to bo
practicable to repeal It absolutely at this
time It Is proposed to avoid Its prohibitory
effect by exempting from taxation the notes
) f such banking Institutions as may be organ-
zed and conducted under conditions which
will amply protect the holders ot their paper.
Whllo direct governmental supervision Is not
and ought not to be provided for , the require
ments that a bank In order to secure exemp
tion from taxation must satisfy the secretary
of the treasury and the comptroller ot the
currency that It has complied with all the
conditions Imposed will enable those officials
to adopt such measures as may be necessary
In each case to secure every material fact
involved In the Inquiry. It will bo observed
that the plan submitted proposes the repeal
of all provisions of existing laws which re
quire national banks to hold a fixed reserve
against deposits , and , as this Is a departure
train the practice which has prevailed con
tinuously for more than thirty years , It Is
proper to state briefly the reasons which
liave prompted me to make this suggestion.
"When the national banking system was
originally authorized It was regarded by
many as a doubtful experiment at first , and
various precautionary restrictions were Im
posed for the security of the note holders and
depositors which practical experience has
since shown to be unnecessary and sometimes
harmful. Among these ore the requirements
that bonds shall bo deposited to secure 90 per
cent ot their par value In circulating notes
and that a fixed reserve which cannot bo law
fully diminished shall be held on account of
deposits. The consequence of this last re
quirement ij that when a bank stands in need
of all Its resources It cannot uao them with
out violating the law. The necessity for holdIng -
Ing a sufficient reserve against deposits Is not
questioned , and In fact the business of re
ceiving deposits and discounting paper ought
never to be conducted without it , but It
should be held for actual use when the occa
sion requires and not made legally Inacces
sible at the very time It was theoretically
supposed to be beneficial In sustaining the
credit of the bank and affording relief to Its
customers ,
BANKS CRIPPLED BY THE LAW.
'Under the present law when a bank finds
Its reserve In danger of reduction below the
legal requirement on account ot the demands
of Its depositors It is compelled at once to
call in its loans , thereby Increasing the dis
trust and aggravating the situation which a
Judicious use of the reserve would have re
lieved ; and besides at such times. In crder to
protect the reserve which is then practically
useless for all practical ' purposes , clearing
house certificates , various forms of time
checks and bills and other devices of doubtful
legality are habitually resorted to for the
purpose of supplying Circulation to take the
place ot lawful money lying Idle In tha vaults
of the banks. To provide for a reserve
which cannot be utilized , even at a time of
the greatest stringency and distrust , without
Incurring the penalties of forfeiture , affords
a most striking illustration of the impolicy of
legislative Interference with the. naturalla.ws _
ot trade and finance. It Is not the duty cr
province of the government to control or- reg
ulate the private affairs of the people , except
for certain well defined purposes. As th'e
custody and use ot funds belonging to depos
itors are matters which affect only the Inter
ests ot the Immediate parties they should ba
left to their own Judgment and discretion.
The duty of the government , so far as it has
any duty In the premises , , la simply to pro
vide that all the currency Isued under US
authority Is sufficiently secured to prevent Itfi
loss or depreciation In the hands of the people
ple who are compelled to receive and pay ft
out in the transaction ot business. But 'a
bank is not dependent upon the government
for authority to receive deposits and Its u
for that purpose by the public Is as purely
voluntary as the credit extended to a coiv
pcratlon or to an individual. Every prudently
managed bank , if left free to conduct It8
own deposit and discount business In thj
manner most advantageous to Its own
Interests and the interests of its deposit
ors , will keep on hand a reasonable reserve
to meet net only the ordinary demands upon
It but to provide for such emergencies as are
liable to occur in the community where It ( s
located , but It ought not to be pro
hibited by law from "using suci
reserve for the only purpose it was deslgnad
to accomplish. The requirements that toe
banks shall pay their own obligations Imposes
upon them no greater hardship than ts Im
posed by law upon every other business and
financial Institution In the country and the
only argument that could be plausibly urged
against It In the case of the banks Is that
as the government has undertaken through
their agency to secure a sound circulating
medium it should pledge its credit to keep it
good under all circumstances. The conclusive
answer to this Is that the government has
discharged its whole duty in the matter wheji
it has by its legislation provided such safe ,
guards as will , with honest and competent
management , guarantee the safety of the
notes isued by Uts authority , and this Is one
of the results which the- proposed plan Is in
tended to accomplish.
"In order to provide a wider field for the
active circulation of our silver coins nnd
certificates , which now constitute one-fifth
cf the entire volume of our currency , and to
protect the treasury as far at possible
against the accumulation of certificates re
turned in payment of customs and other
duties to the government It is proposed that
no national bank note ct a less denomina
tion than $10 shall be Issued. The bank
notes under that denomination now outstand
ing amount to $63,258,949 , and there are also
In circulation $64,419,831 in old United States
legal tender notes In denominations less
than $10 , $ GO,193C53 In treasury nots. of 1890
and $131,047,547 In silver certificates , mak
ing In the aggregate $318,618,985 In small
notes , or only about $19,000,000 less than the
entire Issue of silver certificates. The fact
that our circulating medium Is composed of
so many different kinds of currency would
seem to require the enactment of such legis
lation as will provldo a place In which each
can bo safely and conveniently used , and as
this can bo done without discrimination
against any ot them It ought not to be
omitted from any plan which proprsea per
manent changes In the system. The policy
of various other countries in this respect
appears to have enabled them to avoid the
difficulties encountered hero In the attempt
to keoi ; tha less valuable cclns and their
representatives In circulation without de
rangement ot the currency or disturbance of
the public finances.
K
WHAT OTHER COUNTRIES DO.
"Great Britain , * lth $555,000,000 In gold
and only $112,000.000 In sliver , none ot which
Is full legal tender , authorizes the Issue etna
na notes cf a less denomination than 5 , equal
to $24.33 ; France , Belgium and Italy , with
$976,000,000 In cold and ? 518,300.000 In legal
tender silver. Issue no notes ot a less denomi
nation than 20 francs , or $3.S6 ; Holland , with
$27,600,000 in cold and $53,400,000 tn legal
tender silver. Issues no paper below 25 flcrlns ,
equal to $10.65 ; Spain , with $10,000.000 In gold
and $126,000,000 In legal tender silver , Issues
nothing below 25 pesetas , or $4.72 ; Den
mark , Sweden and Norway , with $28,000,000
In gold and $1,200,000 In limited legal tender
sliver , have no paper under 10 kroenen , or
$2.68 , and Austria-Hungary , with $130,000-
000 In g Id and $81,000,000 In legal tender
silver , Is Gradually retiring all notes under
10 crowns , or $4.04. None ot those countries
have any paper based exclusively upon silver
as wo have , and consequently all payments
made In sums less than the denominations
of n-tca mentioned must be made , lii actual
coin , which would not bo the taso ; here It
the recommendation now made should be
compiled with. Our stock of full legaj
tender sliver cilns is larger. In proportion to.
the stock ot eold than in nay ot tbe .coun
tries named except Holland. Belgium and
Spain , and yet wa continue'fa obstruct ( heir
circulation by tbe issue of small United
States nites and bank notes which scrvthe
purposes of tha people In their dally * trans
actions no better than the colna or certifi
cates based upon them. The experience ot
this country under the act ot February 8 ,
1874 , which 1'mlted silver certificate ! to
denominations ot $10 , and under the act of
.
August 4. 18S6 , whlch removed that restric
tion , Justlflttf tfe belief \hat the change
now propostxl iwpuld result In a greatly In
creased uso.ot gllver coins nnd certificates
and that thcV wpuld bo much less likely to
return and rtfr/Mn / tn the treasury than at
the present ; " ! yt ( the Umo ot the passing ot
the act lastjBrnfijrred to permitting the use
of silver co&iffe not represented by certifi
cates Jn denominations of $1 , $2 and $5
standard slf erf dollars had accumulated In
the treasury. . taf the nmcunt ot $83,953,880 ,
although thpitbfal coinage up to that date
was only $23SH3,286. Within four months
after that ta'to ! , . although In the meantime
the colnagoi\vo.t progressing at the usual
rate , the amount , of free stiver held In the
treasury was1 reduced to $71,259,568. nnd it
continued to WtFcaSe ! on account of the de
mand for small ) certificates until It became so
reduced that- further Issues ot certificates
had to bo limited practically to the current
coinage of the dollars. "
TO MAKD TRADE FREER.
On the subject of revenue reform , the
secretary continues : "If this country is to
utilize to the fullest extent the opportunities
offered by Its geographical posltUn , natural
resources and the mechanical skill nnd com
mercial enterprise bt Its people It must adhere -
hero steadfastly and aggressively to the rev
enue policy Inaugurated by the present con
gress nt Its laH session. The reduction of
taxation to the fewest point compatible with
the collection of a revenue sufficient to main
tain an efficient public service Is a duty
which , upon the plainest principles ot Jus
tice , every government owes to its citizens
under all circumstances , but when the taxa
tion Is imposed In such form and at such
rates os to Increase the ccat of living and
obstruct the processes of Industry and trade
this duty becdmes still more Imperative , and a
failure to discharge It when tha power exists
Is a gross violation ot public trust and confi
dence. For many years our tariff laws have
been framed upon the Iheory that the wealth
of the country could be Increased by Impos
ing burdens upon the people nnd that the
prosperity of our Industries could be promoted
by Increasing the cost of production , and the
result has been that net profits of labor and
capital constancy diminished until they
reached a point which made further develop
ment of our resources almost Impossible.
But little opportunity was afforded for the
extension of our manufacturing and mechan
ical Industries or foil the growth of our trade
at home or abroatl , nnd thus the farmers and
other producers of the 'country were confront
ed by a situation which compelled them to
receive diminished rewards for Increased pro
duction. A change was demanded by every
consideration ot public duty and private In
terest , and although the recent legislation did
not accomplish in that was expected or de
sired It Inaugurated a policy which It is
hoped and believed will ultimately result In a
great Improvement in our Industrial condition
and a corresponding enlargement of our Inter
national and Internal commerce. In tha pros-1
ecutlon of this policy no temporary character
or apparent diversion of the public mind to
other subjects should be permitted to dimin
ish our confidence in our financial success1 or
weaken our determination to maintain a con
sistent advocacy of Its claims to the favorabje
consideration of : thepeople. . On the contrary
reverses should stimulate increased efforts
and every movement hereafter made should
be a step forward In the direction or freer
trade and a more equitable distribution of the.
rewards of Industry. The raw materials used
In the production ot commodities for the use
of the people In their homes and In their va
rious industrial pursuits should bo fre&Jrom
taxation In ord r. that the burdens of labor
may bo llghtenftl , the opportunities for em
ployment InqafiJsi and the necessaries of
life made mortf Titiarfdant and less expensive.
If our Industries era to bo profitably con
ducted , reduQ sL.c95tflt product mustprecede.
or accompany reduced price of the finished
product , and ; ' iMVke'ap dommodltles increase
consumption the Jlnterests of all classes , Will
be promoted of removing the obstructions
which deny our skilled laborers and artisans
access to the world's store of raw materials.
The late act , whllo.lt places upon the free list
a conslderablQpJtfJ of moat Ipfporfant jaw
materials used In our manufactures , left iron
and lead ores and bituminous coal and sev
eral other articles at less consequence still du
tiable , thus no.L gnly falling to put In force a
" levenua reform , but
ttMt valuabli-mduBrtles
ilajgt&g > lSi&v'ant8Ke ) as cpnipared- with
their irlvals dllfereaily located. " *
. "There are other "defects , consisting of am-
blguoos. 'phraseology in some of tho-paja-
graphs , and fnconslsjenf ami excessive , rates
of , ddty. In soinp otlj.h6 schedules , a correc
tion of which , would , b9 In harmony with a
pollcjr ot progressive reform nppn a. basis of
equal Justice to producers and consumers
nnd would not affect the revenue to apy , con
siderable extent. J Advantage should * < be
promptly taken"of every opportunity to re
move all these objectionable features' from 'the
act In order that our legislation may b'emade , ,
to conform , as speedily as possible , , to1 the
pledges given to the people and to vtho de
mands of public sentiment on this subject. "
CU4KO1SU WITH F.irOKtTISJt. '
Defense In A. 11. 17. Cases Ask to Have
Unltoil Mutes Attornojs Itoninvcd.
SAN FRANCISCO , Dec. 4.-A sensation
was created yesterday In the United
States court before" which Main and Cas-
sldy , American .Hallway union men , are on
trial for conspiracy. Attorney Montleth ,
their counsel , formally moved to have
United States District Attorney darter and
Assistant District Attorney Samuel Krtlsht
removed from their positions as prosecutors
In the case on tbe ground of bias nnd undue
friendliness fpr the Southern Pacific Rail
road company. Two of the 'Jefendants were
Introduced. It was charged that through all
UK ; recent strike trouble the district at
torney and his assistants conspired with
the Southern 1'afltlo officers anil that they
took such unwarranted action on behalf of
the railroads in this matter and became so
biased that the conviction at the men now
on trial is essential to the vindication of the
district attorney. It was further charged
that the district attorney and his assist
ants have a personal Interest tn suppressing
evidence on behalf of the accused men , and
that when thd matter won under Investiga
tion before the United States grand Jury
the district attorney's Influence was wrong
fully used to prevent the grand jury from
hearing material evidence on behalf of the
strikers. It was also charged that District
Attorney Garter owes his appointment to
the lute Senator Stanford and railroad In
fluence , and that throush all of the recent
trouble he was -active in their behalf. The
motion to remove District Attorney Garter
and his assistant , KnlRht , and to substitute
special counsel for the prosecution was
denied by Judge Morrow and the trial was
ordered to proceed.
General Swiilm' * L'roliable Successor.
WASHINGTON , Dec. 4. The announce
ment of the president's determination to
retire Judge Advocate General Swalm this
month has raused much speculation In mil
itary circles as to the succession. Under
ordinary circumstances General Swalm
would not retire before 1895. The president
has adopted a course which , while perfectly
legal , has very few precedents In the his
tory of tha army. Up to this time but two
names have been prominently mentioned for
the succession. 7 Qnp , Is Joseph Doe of Wis
consin , assistant secretary ot war. and the
other is ColoneirCJ3I. Liber of South Carolina
lina , Mr. Doe has , liowever , publicly denied
any asplratlori to the place , and It seems
very probably .tpat the olllce will fall to
Colonel Liber , who has , since General
Swulm's suspension , discharged the duties
ot Judge advocate general.
Ileflnerlcn Kllnftlny on llulf Force.
NEW YORKJ Da& 4. An afternoon paper
prints the follovylpg : as emanating from
President Havemeyer of the American
Sugar company1 : ' "Work has been resumed
In the rennerK-s-
a very reduced scale.
I do not antlduau- the passage of. a free
sugar bill. ThpM'ranUlln refinery of Phil
adelphia Is wiltklns with a reduced force.
The Spreckela K-llnery' Is not working at all.
The Boston refinery is working with about
half the usuafc * icrce. The. Madison and
Welchers refinery Is workinir with about
half force. The Brooklyn refinery la Idle ,
The Havemeyer > and Elder refinery is warx-
inc with nearly full force. "
Mr. Havemeyer denied the reports of dlf-
ference with other directors. He also
denied having a conference with senators at
the Fifth Avenue hotel.
Oregon Kidney Te cures all kldnty 'ran *
bltt. Trial Ue , 25 cents. All drugglsti.
Think Tlwjr Ilavo Jloeu bwlmllcil.
WABHINQTONi Dec. 4.-An equity bill
{ or the appointment of a receiver and an
Injunction against , the Fidelity Building and
Loan and Investment association , the Co
lumbia Building , Loan and Inveutment as
Hoclatlari , Harrison D. Ingman. Andrew
Wall and other * was filed In the dUtrlot
court today by stockholders. The bill
charges fraud1 and mismanagement , that
the corporations are Insolvent , that Bharos
ore now worth but half the amounts paid
on them , so that further payments would
bs useless , and asks for a receiver. In
cidentally It erases that stockholders ore
kept In Ignorance ot the affairs of the
corporation.
S
J- * 1H *
A STARTLING EX1IIBIT
( Continued from Pago. )
their particular session ot 1891 paid for
enough Jacknlves to entitle each member to
six of the Implements swear upon their
honor that they never saw one. It Is
known that persons who did obtnlit knives
drew them by means -requisitions made
out by Eric Johnson , chief clerk of the house ,
nnd the secretary ot the senate. It Is not
known what the result would bo If this
were followed up all along the line. Tliero
was a large army of employes , who are
credited with assisting In consuming such
stuff.
stuff.Whllo
Whllo unprecedented frugality 1ms pre
vailed In all of the state's Institutions In the
past two years the largo and expensive pay
rolls would seem to justify the belief that
material reductions might be brought about
In the salaries without Impairing the public
service. The wages paid the state's ser
vants arc better than any other class of
employes receive during these times , and
especially Is that true of these employed
In the Institutions which board the employes
at the expense of the state. A conservative
reduction of the pay where It can be done
without Injury to the service will result In
an aggregate saving of many thousands an
nually.
FIRB INSURANCE.
During my Incumbency I have sought to
learn more of the affairs ot the Insurance
companies transacting ) business In this statq
than Is disclosed by their annual statements
filed in this department , and I have caused
practical and thorough examinations to bo
made of nineteen foreign and domestic com
panies , with very satisfactory results. ID
1893 four lire Insurance companies were ad
mitted to the state , and the same number
retired , and In this year two companies
were admitted and fourteen either volunT
tarlly withdrew or failed. In 1893 Sl : (
Farmers' Mutuals were admitted and ton
In 1894 , Four 'miscellaneous companies
were- admitted In 1893 , ono withdrawing , and
ono was admitted In 1891.
I am very thoroughly of the opinion that
our present Insurance laws should be re *
pealed and a mora comprehensive law
enacted affecting all forms ot underwriting.
Our present law is too vague and uncertain.
It Is difficult to safely conduct this depart
ment with laws that are subject to di
verse constructions and make It as effective
as It should be. The penalties for viola
tions of our insurance laws should be definite
nnd severe , and the authority ought to be
fully and certainly lodged In this office or
somewhere else , to prosecute Infractions of
the law to a conviction. I have made
strenuous efforts to prevent the Lloyds and
other unauthorized alleged Insurance asso
ciations , companies or corporations from
soliciting pr procuring business .In our state ,
and have directed the attention ot all con
cerned to the unreliability of that class of
presumed Insurance and the hazard they
assume in dealing with any of these wildcat
schemes that refuse to comply with our
laws , and have also done all I could to ap
prehend some of these unlawful under
writers and bring them to Justice. In view
ot the alarming Increase of the loss rate ,
as compared with the premiums received
since the enactment of sections 43 to 4G ,
both inclusive , of chapter 43 ot the An
notated Statutes of 1893 , I am .forced to
the conclusion that equity and fa'lr dealing
as between the two parties to an insurance
contract roako It almost imperative that
. .the sections referred to be repealed , and , If
deemed necessary , substituted by a more
ratlotial and less partial act. I can't resist
the conclusion that the effect of this act It1
to create an incentive for incendiarism , and
thereby greatly Increase the moral hazard o !
th ? risk written , as well as to Jeopardize
the property of the neighbor , which neces
sarily must result In advanced Insurance/
rates for the honest insurer to pay or a
( Withdrawal of the companies from the Held.
( Were all men above the suspicion of avail-
ling themselves of the advantages they might
gain financially by the valued policy law , its
effects would bo beneficent and there would
bo no reason to suppose that this or any
( othec-slawiwould place a premium on arson *
LIFE INSURANCE. '
Our life and accident insurance laws are
qulto as imperfect as those pertaining to
fire Insurance and should be replaced with
new , crisp laws , free from all ambiguity and
tdoubt as to their meaning. Our present
laws are relics of our territorial days and
wholly Inadequate. They fall to enlighten
either tba companies or this office ot the
dujjes devolving upon each , as they should.
In 1893 three life and accident insurance
companies were admitted and ono wlth- ,
drew , and In 1894 flvo new companies were
admitted ! and one withdrew. Nineteen
fraternal orders have been admitted and six
have withdrawn during the present blen-
nlum. I recommend the enactment of a
rigid law for the guidance of soliciting and
other agents of all manner ot Insurance com-
.panics , and making any misrepresentations
on their part amenable to severs penalties ,
and until some such wholesome legislation is
had the mad rush for business will be con
tinued , under a disadvantage by the really
conscientious and truthful agent.
BONDS.
Bonds of all classes and fonns , aggre
gating J1,935.0G7 , have been registered in
this office in the past two years. About
$200,000 in bonds have been refused registra
tion , owing to legal defects. I desire to
call your especial attention to our existing
laws governing the issuing If Internal im
provement' ' bonds. Under section 9 , chapter
93 , page 647 , Annotated Statutes of 1893 ,
canals constructed for Irrigating or water
power purposes are declared to be works of
Internal Improvement , and they are created
under the provisions of chapter 45 of the
same statute. Recently , for obvious rea
sons , large quantities of county , precinct
and village bonds have been Issued for Irri
gation , purposes In the hope of getting relief
for the agricultural districts of the state.
I respectfully urge that section 9 of chapter
93 , above cited , be repealed , and a special
law enacted under which Irrigation bonds
shall be Issued , prescribing the amount ,
rate and manner of voting , and requiring
that the bonds so voted shall not be de
livered to any company or corporation until
It shall have entered into a contract and bond
with the county , township or village so voting
ing such aid to complete the canal and de
liver the water therein within a stipulated
time , according to the specifications to ba
filed In the office of the county clerk before
the election Is called.
BANKING DEPARTMENT.
I wish to especially emphasize the neces
sity of a vigorous law regarding bond Invest
ment companies. Nebraska has been flooded
with circulars and representatives ot so-
called bond Investment companies , offering
alluring Inducements to 'Investors. The
banking board has exerted all possible effort
to rid the state of those swindlers , by resolu
tion and otherwise , and a pungent law on
this subject will be of great good to all.
The banks ot the state maintain excellent
solvency in these depressing times and at
test to the efficiency of the censorship given
them by those who are charged with their
control. Our laws governing building and
loan associations should be made more
specific and less cumbersome , the better to
enable their correct Interpretation and there
by enhance their usefulness. Very re
spectfully submitted.
submitted.EUOENE
EUOENE MOORE ,
Auditor Public Accounts.
U3QISI.TIVi : SUIM'LIIM I'UltOIIASKU.
Secretary of Stnte Allen lias Let the Com
tract * for tlio Season Already ,
LINCOLN. Dec. 4. ( Special. ) To a repre
sentative ot The Bee today , Secretary of
State /lien said that he had , already con
tracted for supplies for the coming state
legislature , Including the work ot renovating
the chambers of the senate and house of
representatives , stationery , etc. On being
asked to see thes * contract * ha replied that
be woud | not submit them for Inspection
until they were laid before the legislature it
Its opening next January. In regard to
these contract ! ) State Auditor Eugene Moore
said that they would not come under hi *
official observation until the bllli were pre
sented for his action on the same. As the
nutter now stands , the various contracts for
next session' * legislative lupplln , amounts
ot same and prices , will not be given to the
publlo save through the regular channels of
the record Ot the Uglslatlve Journals.
In section 4 , chapter Ixxxlll ot the Com
piled Statutes of Nebraska , th only authority
for th * purchut of th supplies given to
the secretary of state. Is s follows :
It shall ba the Outy of the secretary of
state to furnish th < > toglMnturo nnd the ofll-
cors thereof nil necessary Mel nnd stft-
t onery xyhcn t > directed by resolution of
the legislature , or elllir-r branch thereof.
So far as lias developed there has been no
resolution of the legislature to this effect , as
the old legislature Is , practically , dead , and
the now ono cannot resolve until It has con
vened and ascertained what supplies are
required for its service. But under nrtlclo
12 , chapter Ixxxlll , section 2 , board of ( supply
proposal It la provided that :
At lenst ono month previous to the 1st ot
January , April , July nnd October , respect
ively , In each ywir , a bonnl , ronilstltiK of
povernor , commissioner of publlo lands ami
buildings , secretary of state. treas
urer nnd attorney general , shall
meet with the warden of the
stnto prison and the superintendents of each
of the asylums or other Institutions fur
nished by the state nnd determine the sup
plies that may be necessary for three
month ! ) , except articles which may bp per-
Islmtilo nnd cannot l > e kept. Said bo.inl
shall designate clearly the quantity nnd
quality of the articles , and shall then n < l-
vcrtlse for ten days In pome newspaper
published at the capital having general clri
dilation ln > the state.
If Secretary of State Allen Is acting under
this provision , which In nowise affects legis
lative supplies , it would seem that an ad
vertisement covering such ground should
have been , printed Ithln the ten-day limit
and Incorporating In Its provisions the com
ing session ot the legislature
MBS. BAMAOOIOXTl'S WILL.
Effort llolng Mndo to Knock It Out III
Dlitrlcl c urt ,
The disposition of the property of the late
Mrs. Mary E. Ramacclottl U the subject of a
law suit that is being tried before a Jury In
Judge Ambrose's court , the action being In
the form of a contest of the will ot the de
ceased.
Mrs. Ramaccloltl was the wife of H. L.
Ramacclottl , and was possessed of property
valued at about $25,000 , the result of careful
Investments made of money left her at the
death of her first husband. Before her
death Mrs. Ramacclottl and her husband
had had much domestic trouble , and she had
made , at 'least ono attempt upon his lite , It is
alleged , and they had practically separated.
Mrs. Ramacclottl died suddenly , about a
year ago , and left a will , by the terms of
which her property was bequeathed to an
adopted son , Harry E. Ogle , a foundling , who
had been cared for by Mrs. Ramacclottl , but
had never been formally adopted , according
to law. Some ot the property was also left
to Mrs. Gibson , a sister of the deceased.
When the will was filed for probate the
brother and sisters ot Mrs. Ramacclottl com
menced contest proceedings to have the will
set ; aside , alleging that the deceased was not
competent at the time of the making of the
will , and alleging that her mind had been
unbalanced by her domestic troubles. The
case was taken to the district court on the
question of admitting the will to probate.
The trial of the case will last for several
days.
days.Harry
Harry E. Ogle has been legally adopted by
Dr. Ramacclottt since the death ot Mrs.
Ramacciottl.
The Note Meant Nothing.
In Judge Duffle's court the case of the
Omaha Loan nnd Trust company against
George B. Green. Is on trial. Green was a
stock , broker in South Omaha , and did busi
ness with Joseph J. Hunter ot Chicago.
After several years' transactions an accountIng -
Ing was had , which showed that Green was
In Hunter's debt to the tune of $7,701. This
was secured by a mortgage , which was sold
to the Omaha Loan and Trust company by
Hunter. Green offers a defense that the In
debtedness to Hunter was In the shape of
accommodation , notes , and Is resisting the col
lection of the claim.
Minor Legal Mutters.
Henry Henderson was called for trial In the
criminal section of the district court yester
day , but failed fo put in an appearance , and
his bond was declared forfeited , Henderson
is. a , colored man who. wen.ttq hi a , home a
, fcw weeks ago ami found anoUierjjiian , named
Green , there talking to Mrs. . Henderson. A
fight ensued , and Green had an eye destroyed
by a blow from Henderson , who had a big
ring on his striding .hand. He gave bonds
for his appearance for trial , but weakened
yesterday and skipped the town. ,
Little Mary Griffith Is In Iowa , and the
habeas corpus case commenced by her father
for her possession Is temporarily hung up In
Judge Scott's court. Mrs. St. John , who has
had possession ot the child since Its mother's
death , sent the little one to Correctlonvllle
with a friend to spend Thanksgiving before
the papers In the case were served upon her.
She hag been cited to appear In court this
morning and account for the whereabouts of
the child.
A Diphtheria Cure.
WASHINGTON , D. C. , Dec. 3. The noti
fication to the Marine Hospital service that
Parko Davis & Co. , the Detroit chemists ,
wore preparing to manufacture antl-toxlne
the new remedy for diphtheria , has been
fully confirmed , and has awakened great Interest -
terest here. Dr. Roux's discovery has
created such a sensation In Europe that
American physicians are anxious to put it
to a thorough test.
Payment on Account Ordered.
MILWAUKEE. Dec , 4. Judge Jenkins Is
sued an order today requiring the Wisconsin
Central receivers to pay the charge of the
Northon Pacific receivers J110.000 on account.
The Chicago & Northern Pacific receivers
were also ordered to Intervene in the main
suit and to answer the Northern Pacific pe
tition concerning the matter of supplies.
Oregon Kidney Tea cures nervous head
aches. Trial size , 25 rents. All druggists.
Nnvlgntlon Employes tn Court.
PORTLAND , Dec. 4.-In the United States
court today a. hearing began in the Oregon
Hallway and Navigation company wage
schedule case , in which the engineers , fire
men , conductors , brakemen and telegraph
operators petition the court for un order re
straining Receiver McNeltl from reducing
their wages.
Ivy Poisoning
Eight Yearo of Suffering
Perfect Cure by Hood's Sarsaparllla
" 0. 1. Hood It Co. , Lowell , Masj.t
" Dear Sirs : Wo have tried Hood's Sarsaparilla -
rilla and find It to be all you claim ( or It. My
vrlfo was poisoned by Ivy when a young woman ,
and ( or eight years was troubled every season
Hood'ssv > Cures
rrlth tbo breaking out and terrible Itching and
lutrnlng. I thought hers was as bad a caie as
anyone ever had. Bus was In this dlitrcsilng
condition cvery year until the began to Uka
Hood's Bmaparllla , which has effected a per
fect cut9 , without leaving any scars , and eha
has had
hadNo
No Sign of the Poison Slnco.
Bhalswejl and hearty , I have UWen Hood's
Sarsaparllla alter the grip with gocd results , and
have aho given it to our ( pur children. VT are
all pictures of perfect health and owe Itto
Hood's S riaFarH | . " J. 0. tfiiEZMAH , Van-
N , b. If you decide to take Hood's Sariapa-
rllla do not DO. Induced tn buy any oth.tr laitead.
Hood's Pllta * ro hand made , and parted
la proportion and appearance. 8Cc , f-a bgi
COMPLEXIONS 1
. . _ _ . . . _ _
Dark MHlln * * * ll. lt.u ! -l \ ' \
, yellow , oily , mothy skin , pim
ples , blackheads , roughness , redness ,
dry , thinand fallinghalrnml8lmplo
baby blemishes prevented and cured
by the celebrated
The most effective skin purifying and
beautifying soap In the world , as
well as purest and sweetest for toilet ,
bath , and nursery. It Is so bocmisa
it strikes at the CAUSK of most com-
ploxlonal disfigurations , vlz.t the
CLOOOED , IXVLAUKD , IHnlTATED ,
OVEKWOUKKD , Or BLCOOISIt PORK.
Bold throughout the world , POT-TEH Dnoo AND
CiIKU. COUP , > ola proprietors , Ilonton. iff "All
About the lllocxl ldu , Bcslp.and llilr"mailed fre .
CONVENIENT AND ECONOMICAL ! t
T
.
: Fmt * j.n&
l Z ! ! tM ii r ursaiii t
t
hi
The best way to 1m-
provo nnd strongh-
cn Soups , Dishes of
nil kinds U to add a
little of the famous i
Leibig
COMPANY'S
Extract of Beef
For Improved and Economic Oookory.
For delicious , Refreshing Beef Tea.
OCT
SEARLES &
SEARLES-
SPECIALISTS.
Clironls
WE Nervous
Private
W0.
CURE
Diseases
Trcalnientby Mail , Consultation Free
Catarrh , all diseases of the nose ,
Throat. Chcst.Stomacli.Llver.Ulood
Skin and Kidney diseases , Lost
Manhood and all Private Dis
eases of Men ,
Cull on or addresi ,
Dr. Searles & Scarlos ,
TiERVE
SEEDS
_ .jl 1'iiinouii
' Uemetlr euros
quickly and perraa-
_ _ - . . iiontly all nervous
* sw alsoatoB , Bitch as Vvo-ile Memory ,
Ix > of Drain I'ower. Iloadarlie , Woliofulncjs ,
Lost Vltnlliy , nluUllyomlsBloiwovlldream .lm-
polenor nnd wastlntf diseases caused bjr > an thrill
errors or xc r * . Contains no oplnt 9. IIH
litrvo Cuulo uu < l blood biillitvr. Makes tha pala
anil puny strong atid plnmp. Kaallr carried In vctt
pookou 81 pcrboxi O rorSff. iff mall r
wllh a irrltten KUHrantea toeura or monor refunded.
Wrltotufar rreo meillcul book , tent oenlod In
nlnln wnippar , whlcti comnlns taittlruonluli and
unanclnl reforcnooa. No churire ni' cmitultii-
tlouv * Rcwan of ( mitatfntij. Hold br our advor *
tiled n ent , or adilren * A jKVU HUI1U CO. ,
Maeonlo Temple , Vbloniro. 111.
BOLD IN OMAHA , NEn. , nVfiUEUMAN & Me.
CORNELL , 1515 nODGK. KUHN 4 CO. . IBt
VICKERS & MERCHANT. ICtb cnt
TOWAKD BTKEBTB.
TODAY
AT 2:30. :
POPULAR PRICES.
Everybody Como and Brine the
Children to See
DONMELLY & GIRARD
IN
THE RAINMAKERS
ORCHESTRA : BALCONY :
SOc.
Last performance Tonight.
THHEE NIGHTS
SATURDAY MAT.
.6.
EUGENETOMPKINS'
Grand 1'roductioa ot
THE BLACK CROOK
The Magnificent Uallct. Hpectacl * . A Dazzllnc
Ilumanco In 4 Acts and It Tableaux.
100 People and Carloads of Scenery.
Undtr the direction ot LAWHENCIJ Mc-
CAUTV. Identically the uamo projucllou th t
wan liero last February ,
Hale openi Wedneednr at the following prletj :
Kir it naor , It.OO and II.W ; balcony , Ua and lie.
EMPIRE THEATRE " 'Sfta *
( Formerly People's Theater ) .
W. J. DDIIOESB . . . . MAHAor.ii
UhO. U.T-S , .SATURDAY MATINKH.
EZRA KENDALL
lu liln Now Ploy ,
"THE SUBSTITUTE. "
Th FunnlMt II * Uver IIiuL
n. Hvery Iwly Itendlny tli t l
ThurtJar mornlnif , Ure. fill , Uawttii tUu hour *
ot | and 10 , will r 9. tv , mt ft ,
t : <