Logansport Pharos-Tribune from Logansport, Indiana on March 19, 1895 · Page 4
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March 19, 1895

Logansport Pharos-Tribune from Logansport, Indiana · Page 4

Logansport, Indiana
Issue Date:
Tuesday, March 19, 1895
Page 4
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John Gray's CORNER THIS WEEK ON WHITE GOODS Toweling and Lace Curtains,beau tlful. Dimity and Nansook for the coming season. Best value in Towels aver offered, and Lace Curtains at unheard of prices. The patterns are entirely new, and quality cannot be beaten. P. 8. -Also a handsome assortment of striped and dotted Swisses for curtains and sash doors. State National Bank, logansport, Indiana. CAPITAL $200,000 1, V. JOHNSOH, PKKS. S. W. Utxwt'. VICK Praa H. T. ElKiTUHiKK, CASHIKK. —UIliKCTOKS.— / y Johnson S. W. Ullwy. 3. T. Elliott, W. JI. EHlolt, W. H. Snider. Bay and sell Government Bond*. Loan money on personal seonrit) and collaterals. Issue special certificates of deposit bearing 8 per cem when left ono year; 2 per cent pei ftnnuui when deposited 6 mouth*. Boies In Safety Deposit Vaults oJ this bank for the deposit of deeds, Insurance policies, mortgages arri other valuables, rented at from V to $15 per year HOYT'S Sure Cure for Piles. LliJKKTl'CKNTXH.O., KeD, 16. 18&L ccordinK to direction* two weeks, at ot «»ieu «'»» the ulwrs <llsat peured and ilnot sin je returned. I beltev» tUf 'euro b »• 9 - M[BLS For Sale by Ben Fisher. Lake Erie & Western, Purii Union Station, s sold to points In the United SOUTH. Arrive. Depart. * Ho. iffiTolMlo Bnmax. S ...... No. •» Kvenlni? Kxpr^s S ..... 8JO r m So 151 Local KrelKtutt .......... *•& P ™ JfOBTH.} Arrive. Depart, Ma 30 Mallft Tjepreaa S ...... 10:12 am 10:22 am fiS; n MM.U.U, City 0. ....... 4W P m 4:45 p m HO 3J Detroit BxTOwS....... 9;5op m . No. 1«0 Accommodation af. . . .-00 am D. Dully, H. Dally except Sandny. •No 22 dot* not run north of f*< u SunUajs. iis Mouduya, Wednesdays *'ildays iiud Sun- ffci n» Monday, Tuesday, Thursday «nd Satur- nd-potconwt«ons nt BloomlnRton nnd rlu for p- Ints west, .nijtbwcstand Bit' ct c Minectloni miidf M Lima, ^s tor nil points ei THUS. . E. The Bicycle Season C» now ut hand. Your old wheel Uhelys«ve<S Its purpose, and )ou want a new one. Or perhaps you are thlnkluK ot getting a .new one. Tuen let og show you best wheel such as the Ratfe, Spuldlng, TVln- ton. Royal and >e»therstone. BURGMAN CYCLE CO. rs or the Bicycle MessenKer •l-:l JIA5XET 5T. FHOXESO. WANTED, W AKTE iv_An Intelligent Retire man or lady to Ufwl for reliable hotisj with «£«"«». Pjj* Advancement for fiUihfol nie pcd«nTelo|*, Secnttif. - .p Drawer P. W. a. VHIOHT, C. W, GRAVKS, * •*#*-" • -n DAILY JOURNAL PoblUhed every day in BM> week (except Monday W toe Loaunwow JOUHUL Co. W, 8. WRIGHT Ji. HABVY C. W. GBAYE3 8. B. BOYEB Vic* PBBIDXNT - 8»CMTi*Y. THUBUKKB Price per Annum price per Month • S6.OO . 6O - - MaDagWg Editor - Business Manager, THE OmciAL PAPKB or THB CITY. [Entered as second^law matter »tthe Logansport f o«t Office, ¥ eMoary 8. 1888-1 TUESDAY MORNING, MARCH 19. A TARIFF FOR THE RICH The enormous 1- 69 of revenue to the country as a resultol theGorman- Wil- 300 tariff law has placed the finances of ihe government in a critical state On the other hand the low prices for ihe necessities of life, tbat Democratic orators promised have failed to materialize. The fact is that this alleged "tariff reform" act reduced dutiea principally on luxuries and If any 3lass of people are benefited it is the rich and not the poor. This is clearly shown by an able article in the March Forum from the pen of Andrew Carnegie from which we quote tire following: A page could^be filled with a list of the luxuries of the rich upon which the taxen have been reduced by the new tariff. Here are a few reductions: cblna reduced 50 per cent., flaee plate and stained glass, 40; gold pen?, 16; clocks, &28; hate, 72; knit fabrics, 72; Gunnel, 68; silk umbrellas, 018;Xbrandy and cor. dials, 28; Q silks, | 40, gloves, 30; comfits, jallles, etc., laces, em- brniderlea. etc., 16, wcolens and silks 10 to 20, owing to ad valorem instead Of specific duties. Under the present tariff the rich man of fashion wears his superfine foreign broadcloth, super, fine linen and silk hat, kid gloves, fine silk umbrella, sips his costly glass of rare old wine, at from 20 to no less than 70 per cent, lees than the former duty upon theee superfluous luxuries His grand; dame . plys her fan, flourishes her embroidered handkerchiefs, dleplaps her ex. qulslte laces, £and arrays herself la superb silka at equal reductions, with many smllea and thanks to the newly arisen friend of the people, the charming and brilliant young West Virginian, who apologizes for his failure to reduce the duties upon the champagne ehe offers him, explaining that this was not his fault as hie bill originally provided for its reduction aleo. Hundreds of fancy articles made of wool, silk and linen are now under reduced duties. These reductions, as we shall see later, embrace articles de luxe which furnish two thirds of the entire revenue from tho tariff. Not one workingmcn In tho whole land uses ttese luxuries Such is -tariff reform" up to date and, thus is the "burden of taxation removed from the masses of the people." Strange delusion! The taxes »re removed only from the ricb. Tariff duties as follows were col. looted in 1892 on foreign importations of the luxuries of the rich: Wool mannrnctures - SUIc inaimf acturesk Cotton manolaciures KIBX uwnuraciures Glass M\d cMua Wines, liquors, eic Tobiicco and cigars Here are f 106,000,COO of revenue fepm seven classes of luxuries, and : here are a few others which netted more than 18,000,000 additional—Jewelry, carriages, artificial flowers, -clocks, brushes, paper, perfumeries, musical instruments — making flU.OOO.OCO revenue collected from imports out of the total of 1177,000,000. To reduce duties upon articles which are all luxuries of the ricb, furnishing two- thirds of the whole tariff revenue, li the chief result of the Wilson act. Highest of afl in Leavenrog Power.—Latest U. S. Gov't Report THE St. Louis Globe Democrat .believes that Uncle Sam la not taking as much care of his territory In the far north as ho should, as the following shows: Aliska continues to suffer from the .neglect 'of Congress, though in the s iroe latitude In Europe, where the climate is more severe. 20.000 000 people .possess comfortable homes, Although the mines and fisheries of the Territory yield |16.000,000 a year, it is wlihout a military post, has but one lighthouse, and DM never had a Government typographical or geological surrey. L»nd can not be purchased or preempted. The Fifty-fourth Corigresn will hare an opporttwnlty to Powder ABSOLUTELY PURE LOSS, ONE HUNDRED MILLIONS. Tb« Tremendous 8hrlnlt»ee of Crop <F»1- a« In the United Ktatei. The Bankers' Magazine goes into an impressive calculation of,how much the country has lost by the low prices of farm products. It says that if the, three g>- -nt crops of wheat, corn and cotton for 1: 04 could have been laid down in New York on the 1st of January, 1805, the a-grega-to market value would have been 81,178,250,033, against a valuation of 81,253,- 1S7,T1Q for-the crops of 1893, and of S?l,544,7+9,724 for the crops of 1802. This is, of course, an arbitrary standard; but it is probable that the New York price is, upon the whole, as good a standard by which to judge of the relative value of the year's crops ns any other that cun be adopted: The following table, made up from the reports of the department of agriculture, gives a record of the average prices for various staples received on American farms and plantations since 1803, compiled from the rates ruling on or about December I of the respective years: IMS. ISM. list. Centi. Ctnt*. Ventt, WHeat, bushel &•* *;•' S'f Rye, bushel... JJ-8 «•«• |°-* Oats, bushel SJ-J «•» °r: Hurley, bushel...- «.S 40.6 «.3 Corn, bushel 39,4 36.1 <6.« Cotton, pound *•* ••* The corn price for 3SU4, 45.6 cents per bushel, is 0.3 cents higher than the average price for the decade 1880-90, and is 4 cents higher than the average of the last four years. The wheat price, 49.8 cents, is the lowest for twenty-five years, and is 33.9 cents lower than the average for the decade 1880-00, and 22.1 cents less than the average for the last four years. The price of cotton is at its very minimum. Comparing the prices for 1804 with those of 1892, it appears that, with tbe exception of corn and oats, prices have declined 20, 30, and even 40 per cent. The Bankers' Magazine finds that, accepting the best trade estimates, the loss on the 1894 wheat crop, as compared with that of 1892, is 8111,426,000. If we accept the United States official estimate of the 1894 wheat crop—namely §225,900,000, the loss, by comparison of'lBOS, would be $130,020,000. Next comes the cotton crop for 1894,, whose yield has been estimated at the enormous total of 0,565,275 bales. The following table gives the values of the cotton crop for three years past: ptrlb. Total value. i8or""!!!""syi5]09ii82o w° 1394; 4,839,350.583 4.00 .--The shrinkage estimated on this basis foots up nearly §35,000,000, as compared with last year's cotton crop returns, and over 545,000,000 when compared with the yield of 1893, although the planters have had all the expense of cutivating and picking the largest crop on record. The final deduction which the Banker's Magazine makes is that on the' throe g-re:it export crops of tliis country (wheat, cotton and corn) there has been a net loss, compared with the export values of the same crops in 1802, 'of 8100,000,000. Whenever we talk of hundreds of millions we are talking of totalities that are meaningless by reason of their very vastness. The human mind grasps the'extent of losses reckoned by tens, by hundreds or by thousands, but when it is confronted with rows of figures that mean thousands multiplied by thousands its sense of proportion is confused and overwhelmed. Counting the cost of. Cleveland's twin destroyers of American prosperity- tariff reduction and currency contraction—is a difficult thing for that reason. The total footings of the losses are too vast to be actually appreciated by the popular mind. They are represented in figures by rows upon rows of punctuated- ciphers, marching three abreast and three deep, that simply suggest to the average reader a whirling maelstrom of lost millions into whose vortex the products of American industry are being sucked and sunk in a wreckage that is wholesale and measureless. But there is a fact that stands out clearly by itself and can be grasped by everybody—one hundred millions a year less goes into the pockets of the American farmers because Cleveland prices for cotton, wheat and corn yield just that much less for them in "the markets of the world" than Harrison prices did.—Chicago Tribune, CURRENT COMMENT. [^"Secretary Carlisle must often, oh, very often, regret that he left "bis place in the senate to earn a place in the contempt of all his countrymen.— Iowa State Register. £3T"One of the strongest props of the public credit is the foregone conclusion that there will not be another democratic administration in the .next thirty years, at least.—St.-Louis Glolje- Democvat. J3*~Under the McKinley policy of. protection our esteemed friends, the foreigners, were obliged to chip in lively and pay the expenses of the government. Under the democratic and free -trade system we run behind in our t-i- pensea and call npon foreign capitalists to "buy onr bonds, upon which :y« agree to pajr more interest .than thijyr ; can- •otottJkj^frvwti^ijtir*-- 3 —•'•-'• Y. Ad- matters just at present.— vertiser. EgT\A'ith the Wilson brand of statesmanship to reduce the national reve- 1 " nues to a point away below the fixed charges of the government, and the Carlisle-Cleveland brand of statesmanship to supply the deficiency through an enormous increase of the country's interest-bearing debt, the Ameriean people iare just now witnessing an impressive demonstration of the peculiar economy introduced by the old sailor, who, when he found his blanket too short, cut half a yard off the foot of the covering and sewed it on to the other end. and then shook hands with himself over his extreme cleverness.— N. V, Tribune. SMOKE WATER. The Mammoth Stock of FINE CLOTHING. of JOS. G. GRACE, will be placed on sale THE BOND SALE. •the Discreditable D«»l Made by Cle*«l»o<» and Carlisle. Now that the bond operation is a matter of history it is important to recall and remember tho facts that have gone to make up that history. Early in the year it became manifest that another loan must be made to protect the treasury and to keep its circulating 1 notes at par. It was the duty of the president and secretary of the treasury to make tho loan upon the most favorable terms possible. It was especially and imperatively their duty in making 1 it not to do anything that could discredit the government. ' In this duty they failed. The credit of the government was— and in spite of their failure in duty still is—as good as that of England or France. Its own people were ready and eager to supply whatever money tho authorities might call for. Senator Sherman, whose judgment is that of an expert, publicly declared that a popular loun of 8300,008,000 at 3 per cent, would he taken up in forty-eight hours, and th-at opinion was echoed throughout the land. As subsequent events have shown, European investors were equally anxious to furnish money In any quantity at that rate. With full knowledge of the facts the president and secretary entered into a secret negotiation with a syndicate of . bankers for tho placing- of the loan. It was the business of the bankers to make money. It was their instinct to 'drive the hardest bargain they could i where others had no chance to compete. , it was the solemn duty of the president and secretary, the trustees of the people, to protect the public interest ; against their not unnatural greed. "Upon the president and secretary lay the responsibility. Upon thorn chiefly •lies the blame for the blunder made. Government 4 per cents, with only 12 years to run were then sell- Ing 1 in the open market at HO and 111. 'Four per cents, with thirty years to run were therefore worth 119. Yet the president and secretary, without test- 7ng- the market, without giving the people a chance, without inquiring what our own banks would give for such bonds, secretly agreed to sell to the syndicate 502,315,000 of 30 year 4 per cdnts., -worth 110 or more, 'for 10-1 >; or a little less. If there was any doubt that the bonds were really worth 119 it is set at rest by the fact that the loan was subscribed for ten •times over at 112%, and that as soon as the syndicate secured control of the bonds 119 arid more was freely offered for them, with no sailers to take the offers. In making- this extraordinary bargain the' president and secretary discredited the government gravely. They publicly assented to the self-interested contention of the bankers that the credit of the United States is so bad that money cannot be borrowed upon it at less than 3^ per cent, interest on long-term bonds—a rate much above that paid by insignificant provinces and colonies and obscure towns. The bankers knew better. They showed that they knew better by their eagerness to get the bonds at 112K when the time of distribution came. They are showing it anew bv their refusal to part with their holdings at a rate which would make them yield less than 3 per cent. It was, perhaps not their business to enlighten Mr. Cleveland and Mr. Carlisle" But it was the business of these two public officials to know for themselves- These are the essential facts in the history of a transaction which has not permanently impaired our national credit only because onr national resources are so illimitable and our national integrity so thoroughly well known.—:S 7 - Y. World (Dem.). POLITICAL DRIFT. EsTThe evil that the democratic congress has done will live long after its demise, but we may indulge the hope that the little good it has accom plished may not be interred with its bones. —; Pittsburgh Commercial-Gazette. dTThe president and his party have knocked the bottom out of the treasury barrel, but -nevertheless the loyal patriotic people will continue to fill it •op until a republican cooper can get "a new head" to the wreck.—Chicago Inter Ocean. .. .^"Cleveland has reason to b* ' - thankful for the;, republican At 8 O'clock. Remembe r the Date and Place, 426 BROADWAY, A CURIOSITY IN LEGISLATION The Bill 10 Protect Fish Become* • Law Without FiWNlDB the ilon»f. Special to tbe Journal. INDUMAFOUS, Mlircll 18, Qltwas discovered today that the Holler bill for the protection ef fish will become a law although it failed to pass tbe House of Representatives. The vote on Ihs bill in the House was however, the hill went to the Governor and was signed hy him on March 11. and has been published In the list of b 11s that became laws. The Attorney General says H became a law when the Governor signed It, not withstanding the fact that It failed to pasa the House. The new law only applies 10 fishing in ihe lakes of the State. It prohibits the taltlDf? of fish by any means from the lakes between the first of April and the fifteenth of June of each year. Caas county anglers will thus he prevented from fiBhioff In lakes Maxln- kuckee and Clcott during the fpring months. It will Still be lawful, however, to fish during that time ID the Wabaah and Eel rivers. PRINCES OF T3E ORIEST. The 8le<-pln* Orrfer i» Revived lo All It8 Orls>n») Spl«n<lo r »» d Calcium Effects-A »«nmiei Given. The Princes of tbe 0 -lent met last night for the first time in four years. The following victims were taken through the mysteries: Walter and Louts Bantz, Leroy Fitch, Samuel Anderson, Leroy Skinner. W. N- Browo. Chas. Maiben, Albert Young and Check Kraut. Through a special dispensation of the Grand Padisba they were given all the degrees. They were then escorted by the Princes headed by the G. P. *nd the band of four piece*, to Beamer's Broadway restaurant, where a grand banquet was given In their honor. Seventy.flve Princes sat at the table and a jolly crowd it was. Meetings will in future be held every Monday night. New parapher. calla, bearing the stump and trade mark of the Orient, has been secured to replace the old trappings, and the order has taken on a new lease of life. Mother! of iiUaf Dmht«:«. Every woman above 15 ?ear» Of age should read tbe book "Advice to Mothers Concerning Disease of Women ana Children." published by, ttie Zoa-Phora Medicine Company. Send to the secretary of the company, H Colman, Kalsmazoo, Mich-, or ask your druggist for a copy. Sold by B. F. Keefcling and Coulson & Co. PYRAMIDS OF SERPENTS. A M»w of Sunken Twined Totethpt Frob- •b)j for Defen»«. A German traveler and naturalist describes a spectacle he once witnessed in the savannahs of Izacubo, in Guiana, which he wall characterizes as ''the most wonderful and terrible" that can be seen. "We were ten men on horseback, two of whom took the lead, in order to sound the passages, while'I preferred to skirt the great forests. One of the blacks who formed the vanguard returned full gallop, and called to me: " 'Here, sir, come and see serpents in a pile!' He pointed out something elevated in the middle of the savannah, which appeared like a bundle of arms. One of my company then said: 'This is certainly one of those assemblages of serpents which heap themselves on each other after a violent tempest. I have heard of these, but have never seen any; let us proceed cautiously, and not go too near.' When we were within twenty paces of it, the terror of our horses prevented our nearer approach, to which, however,' none of us were inclined. Suddenly the pyramidal mass became agitated; horrible hissings Issued from it. thousands of serpeuts rolled spirally on, each other, shot forth out of the circle their hideous heads, presenting their envenomed darts and fiery eyes to us. "I own I was one of the first to draw back; but when I saw that this formidable phalanx remained at its post, and appeared to be more disposed to defend itself than to attack us, I rode round it, in order to view its order of battle, facing the enemy on every side. I then sought what could be the design of this numerous assemblage, and 1 concluded some terrible enemy,which might be the creat serpent or the cay- man, and tbat they reunited themselves after having seen their enemy, in order to resist or attack him iu a mass."—St. Louis Republic. presence' of a democrat in the white house will prevent the accomplishment of that legislation so necessary to the welfare of the country in the next two years; but while the republican party may not secure what it desires, its presence in congress will accomplish one great good—limiting the power of Cleveland and'the democracy to bring further harm to the republic.—Chicago Journal. dPSenator Hill asserts that th« "president was hampered by an old. statute that absolutely dictates the terms under which he could issue bonds." Have not all presidents and secretaries of the treasury been alike hampered 1 .' But did that make them call for secret contracts with English bankers? Did that compel them to sell bonds below the current market price? The plain fact is that tbe administration gave away millions of the people's money and endangered tbe nation's credit with the hope to hold such a club over the heads of congress as to compel it to adopt the schemes and orders of the administration- That i* the real fact.—Chicago Inter Ocean. Tandalla Line ExenmtoM. On April 2 and SO, 1895, borne seeker's excursion tickets will be on sale at very cheap rates to virious points in the South and Southwest. For ra!es, limit stopover prlvilges. etc . apply to J. C. EDGEWORTH, Agt., Logans pert, Ji<5. Hood 1 * Ser*«p«rlll» gives great bod lly, n«rve, mental and digestive strength, simply because it P 1 "^**' rUaUMrandw What Zoa Phora won't do for WOMANKIND no medicine will.

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