Logansport Pharos-Tribune from Logansport, Indiana on January 3, 1898 · Page 2
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Logansport Pharos-Tribune from Logansport, Indiana · Page 2

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Logansport, Indiana
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Monday, January 3, 1898
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STOP A FACT fltrike for a Raise of Wages the Fruit Jar Works of Ball Brotrujrs. in I'BEffEKT 3TATTJS OF THE TUCnJBLE. flteto IjiboT Commliwilon Irylnif to Settle It —Klrtley. the Itoiul County Treamircr. D«cliireil T» !)• » Suicide—Proof Almost CoiH'lunlf., But Hi« Frtond» Are Incred- ulou»-FH*t» About Inil »n» jOihmil Ga* —Sfclite Well Otr Financially. Muricle, Ind., Jan. 3.—State Labor Commissioners J-- P. :McCormick and Ji. F. Schmidt ha-ve been attempting to arbitrate the troubles at Ball Bros.' fruit ,!ar factories caused by the strike t-monpc the carry-out boys. The boys clemand $4" per week, a:n Increase of 50 cents. The firm offered to pay this, but irith the understanding- that the extra 10 cents be held until the close of the Ire, to Insure that they would not again ftrlke. This the lads finally agreed to lifter the stats commissioners had •worked with them a while, but the firm rescinded the offer when informed that the lear boys, fifty in number and (employed in another part of the factory, were demanding $G per week in- «tead of $5, and saying they would not Ifo to work today. Trouble Spreads to Another Pactory. This: trouble was all In factory No. 1, Ihe other factory having not yet ex- jierlenced trouble, but the boys employed at the other factory now say they will not go to work: unless they a.re irlven the same increase, and it looks IL8 If the big plant will be closed down J>y th'2 little workers. The firm states Ihat men have been employed at $5 ]>er week to fill the places of the carry- «iut fioys. The commissioners have rented a hall for the juvenile strikers, und will endeavor to keep them away Irom the factory property. They state 1ihat the boys charge that it^ has been customary for their foreman to fine Ihem a small amount for such misdemeanors as fighting, throwing snowballs and general mlschievousness, and nome weeks some of them have no iirages! due. This the commissioners denounce. The boys are aged about 14 years. Found Svrlt«he« at Their Door*. D. 0. Mitchell, Edward Leatherman lind James Ludlow, residing in the same neighborhood, found fine specimens of •"Bremen's hair switches; on their door- liteps. The switches are worth at least )IE each and show that no joke was intended. The men are prominent contract builders and are opposing- the organization of a union of all building trades! workmen which is being effected. The police believe it is a new kind o£ a white-cap warning. DKCLAHKD TO BE: A SUICIDE. few the JDonth of Jume* Kirtley at Fowler, IiiU.— friend* Not Satisfied. .Fowler, Ind., Jan. 3.—James Kirtley. ""•treasurer of Benton county, committed nulcldc; at any rate thai: is the decision of the coroner's jury. The revolver by •which he came to his death was traced to Lafayette by Sheriff Westfall and Prosecutor Chisum and was purchased Christmas Day of John A. Bixler by Treasurer Kirtley and concealed by him until put to its deadly use. Bixler Identified Kirtley as the man who purchased the revolver. The cartridges, forty-five in number, were found concealed in a drawer in the treasurer's office. There are gravi? fears of a large deficit in the county funds and experts will be put on the books. At this time of the year the treasurer's books should •how about $30,000 on deposit, while the dead man's books show about $17,000. The verdict of suicide, however, does not receive unanimous credence. His relatives and intimate friends'Insist that he was murdered, and say he had no cause for self-destruction. This is conceded unless it is fuund that there is a deficit in his accounts. The examina- tlonof hisbooks began today. Should no deficit be found the ca»e will be a greater mystery than ever. The books will be examined by Janr.'S A. Bradley in behaSf of the bondsmen and James A. McKnight, Attorney Charles Snyder and former Representative James Rodman in behalf of the county. The evidence as to the purchase of the pistol at Lafayette by Kirtley was complete, and the fact of his going to Lafayette supplied additional proof of suicide, for he told his wife of going only to Templeton s.nd Oxford. His action on the train going to Lafayette ahowecl that he was trying: to deceive. for he got off the train at Templeton and then got on agiiin. Bixler. who •old the pistol, also sold a box of car- tldges to the same rnan. Bixler was brought to Fowler and taken to the Kirtley home, whore he at once identified l:he dead man. The next thing was to maJ;e a search of the office. The 4eBk:s were thrown open and all the drawers pulled out. Finally down at the bottom of an unused drawer •wrapped in an envelope was found the box of cartridges with five missing. In the waste basket was found a piece •nt -wrapping paper bearing the imprint of the box", and Bixler identified this piec<; of paper as the same as taken from his store. SATUBAl. GAS STATISTICS. that Indiana General Pre^ure Fall* Onl; Twelvp Pounds In 1807. Anderson. Ind., Jan. 3.—State Gas Inspector I.i>ach has just completed lathering the statistics for his 1S97 report of the Indiana gas belt and begun compiling it to forward to the state geologist by Jan. 15. It will show that since sas was struck ten years ago about 5,300 wells have been drilled. O these 2,200 are now producing gas. and the others have been abandoned. T- original pressure was 325 pounds, year ago about 230, this year showing s general decline of a.bout twelve pounds At Alexandria, however, where oi drilling has caused much -R-aste, t.h< pressure has fallen off seventy-ftv< pounds, and is dangerously near th< •alt water line. He will take a most encouraging out look for the Jtuturt! and contradict ire- port* that the end of the belt ii at hand. He*An<U that oil o]?*ration» in the i,«* halt ar« practically abandoned. In al Ltfc* fM fi«i* there are but four tarkto up and three -drilling, where a mo-nths ago th-sre were 100. In Alexandria field, where scores were drilling last summer, but one is now going. He thinks the supreme court will uphold the state's action again:;t oil operators. .Flntinceit of the Hoosier Slate. Indianapolis, Jan. 3.—The state officers say that Saturday was the brightest New Year In the history of Indiana, from a. financial point of view. Within the last three years the state has pa:id off $3,000,000 of her bonded indebtedness, anil during the present year the temporary loan of 1700.000, created in 1889. will b<; paid off and-perhaps *300,000 of the rei?ular bonds. When the timelock oia the st-ate treasurer's safe was set Saturday night there was $600,000 in it with which to begin the new year. Cripple Cured by Faith. Anderson. Ind., Jan. 3.—Mrs. Rebecca Price, of this city, has been a cripple for fifteen years and had to use crutches in getting- around. Some time ago she threw her medicine away and began to try the efficacy of faith anJ prayer. ISaturday she came out with the new year without even so much as a limp. She ia enthusiastic over her recovery, and spent New Year's day in devotion. Her case is attracting a great dual of attention. Sav«» the Koail One Employe. Princeton, Ind.. Jan. 3.—Superintendent Elliott Hollbrook, of the Louisville, Evansville and St. Louis railroad will.' in a.ddition to his present duties, assume charge of the engineering, bridge and building departments, with the title of superintendent and chief engineer, with an office in this city. The change became effective Saturday, Chief Engineer T. A. Allen having resigned. Miner*' Wage S<:ule for This Year. Terre Haute, Ind!., Jan. 3.—President Knight, of the Indiana miners, who is just back from the Columbus meeting, says that there was the best of feelin? ctween the miners and operators and hat if this spirit prevails at the Chi- a.go interstate conference Jan. 17 there will be no difficulty in fixing a wage cale for the year 1898. The matter vlth which the delegates have to deal vill be of interstate character. His Ship Came 1» Too L»te, Shelbyville, Ind., Jan. 3.—Week before ast Samuel Munson, a veteran of the civil ,-ar, was stricken with paralysis, and eath followed Saturday. An hour after eath the postman brought his family, vho are almost destitute, information hat he had been allowed a pension of 72 a month, with several hundred dol- a.rs back pay. ONE OF COX'S MURDERERS DEAD. •lirtlal Ketributlon for the Tragedy at Waterloo, Ind. Chicago, Jan. 3.—Charles Johnson, uspected of complicity in the murder f Charles E. Cox, marshal of the town t Waterloo, Ind., who was found in outh Chicago Friday suffering from a. jullet wound in the left leg, died Sat- irday on the operating table in the- Kiunty jail hospital. Before death he vas positively identified by Corneliusi D. Platter, deputy sheriff of De Kalb ounty. JTnd.. who came to Chicago with descriptions of the two men concerned n ihe murder. Johnson's leg was so badly injured hat amputation was necessary. He ii:ver regained consciousness after be- rig- placed under the iniluenee oil :hloroform. ^ The WeatHer We Slay Expert. (•Washington, Jail. 3. -Followins are tlio weather indications for twenty-four hours rom 8 p. tn. yosterdnv: For Indiana and I'Huois—Fair, warmer weather, except sta- ionary temperature in extreme northern porions: westerly winds. For Miohiunu and A'isconsin—Partly cloudy weather: fresh northwesterly winds, diminishing. For Iowa —Fair weather; wanner in eastern portion; westerly winds. . ABBREVIATED TELEGRAMS. The alleged gigantic ore deal reported of a Cleveland, O.. firm is repudiated by that firm. The Fall River, Mass., muie spinners have voted to accept the wage reduc- tiion, and there will be no strike. The British papers note many instances in which flowers are blooming n gardens of the south of England. Fire at Sagmaw, Mich., destroyed the Warren Avenue Presbyterian church. Loss, $20,000; insurance, $8,000. The men in all departments except the 10-inch mill at Homestead, Pa.., lave signed the iron scale for the year of 1S9S. WiHiam Foley has been convicted at liberty, ilo., of the murder of his mother and sister, and sentenced to b^ tianged Feb. IS. Lillie Eisenhut. 17 years of age. died ait Milwaukee of alcoholic poisoning. She had spent i:he night going from one public dance to another. Policeman William O'Mera, of Ch!i- eago. is dying at Mercv hospital from si fractured skull, given him, it is believed, by some Chicago thug. D. B. Cook, the oldest editor and printer in Michigan, celebrated his S3rd birthday at Xiles, Saturday. Cook started the Xiles Republican in 1842. James Bagley, John Sutton and Samuel Foat. former residents of Genese*, Wls., by the death of a relative in England have fallen heirs to J5S.OOO each. The 500 employes of the cutlery manufacturing firm of Mason & Beckley, New Britain, Conn., have been notified of a 5 per cent, increase in their wages. Dr. J. W. Hamilton, iged 74. died Saturday at Columbus. O. He was one of the best known surgeons of Ohio arid a. cousin of Governor Hamilton, of Illinois. In the new list adopted by the American Glass company prices are more than doubled in many instances, but the discounts are increased ir. the same ratio. The average price of silver for the three months ended Dec. 31 was $0.3:565. ts against $0.5693.1 for Oct. 1 last which would indicate an increase of about one-fifth of one per cent. Fire at Cairo, Ills,, Saturday destroyed the European hotel. City National Etank building. Mobile and Ohio railroad office building and Wood^_& Bennet's wholesale grocery. Loss. $35.00«. A significant fact of 1397 in the United States was that tliere wer* 166 lynch- togs, of irhich but t3Urty-two were for rape or attempted rape. In 1S9S there were but in. Twenty of li*t yew's ly»ehing» were In the nortk. FOH'CURRENCY REFORM Abstract of Report of the Monetary Commission. HEW BAFHKG- SYSTEM PROPOSED. To Snllwtltute Bank Kot«i For Treiwa»y Certificate. «nd I>o Aic»y With the De- po.it of Bond» With the Government. The Whole Scheme In Detail. The report of the monetary commission, containing the plan of currency reform proposed by it, together with a full discussion of the subject anrl a mass of valuable statistics aurt 'fther information, has been sent out by the executive committee oi the Indianapolis convention. Following are the main points of the argument and the plan in detail : The Standard. The most serious evil of our present situation is the threatened degradation of our monetary standard. The concurring habits of individual mankind fix the standard by which to measure the value of labor and property. Governments cannot try to change this standard -without making mischief. Tho standard thus fixed is now gold. This is a fact of civilization. Government, if it serves the people well, accepts this fact and records it in law. As an immediate means toward this end we recommend that it shall bis pro vided by law tba; all obligations of the United States, existing and future, shall be payable in, gold except when otherwise "expressly provided. By the wise and courageous action of its executive officers the government has upheld that standard by paying its? obligations in gold, but until such payment is required by law and the door thus closed to all question as to the meaning of the word "coin." in the obligationsof the government we shall not have an established gold standard in the full sense of those words. Demand Obligations of tha Government. At the present time tha government has no fund for the payment of its demand, obligations except the general balance in the treasury applicable alike to this payment of all dues. Our revenues are uncertain in amount, and our expenditures are large and growing and liable to vary. It is therefore uncertain whether we shall have at any particular time an adequate fund for the redemption of the demand obligations without recourse to borrowing. Borrowing i:3 an ineffectual resource, because under the law as it stands the notes which have been paid must be returned to circulation, and so may be used over and over to draw out the borrowed gold The issue of bonds, moreover, rests with the executive department, -and whether it will be resorted to or nor, will depend upon the personal views and discretion of the officials at the'head of tha? department. More serious still is the fact that it is in the power of the executive department as the law now stands to decide whether the government notes shall be paid iu gold or in silver. An end should be put to this anomalous ;md hazardous-situation by making specific and adequate provision for the payment of the demand obligations and directing in the law that such payment shall be in gold at the demand of the holder. A paper currency issued by the government and circulating year after year without redemption educates the people in false notions concerning money. It appears to those who do not look at it critically to derive its value from the "government stamp." It ceases to be regarded as a promise to pay-money auci seems to possess the virtue of money ii: and of itself, and it is so easy to create it That when times grow hard the c;U' for more is perfectly natural. There cai be no doubt that the aberration of judg ment on the money question by so many of our people in recent years has beeu largely due to the misenncating iriflu ences of the greenback currency. Such a* currency also lacks the im portant quality of automatic artaptabi! ity to the varying demands of business A paper currency created by legislator.; is fixed in volume by the law of its ere;: tion and csn "."i'hcr contract nor expan: in response to i::;i.-e varying condition which are bound to occnr in the affair. of men. More important than this is the fuc that such a currency puts upon the ROV eminent a burden in the maiuteiuuH-i of the credit of all the financial iunitn tions of the country. If the goveruui; 1 :". should fail to redeem its notes, all I.: 1 .;:: notes, bank deposits, insurance lns-t- and. debts and dues of every kii:ri K: specifically payable in gold won hi I 1 payable in the depreciated paper or n silver. Every passing incident, tthen.' fore, which raises an apprehousi-u however slight, of a possibility, how ever remote, that the government :;m' be unable or tin-willing to maintain .col- payment of its obligations sends a utr-v ous tremor through the whole b'-isiues:- system of the country. Sovereign. ir<-v eminent cannot be compelled to ;ui;.- ::• debts. It pays them only when it will- so to do, and thw existence of doul.t is the public mind as to the rontiunaiK- of the will of our government to pay n- demand obligations in money <aii>fac tory to the holders thereof is a r^ruju- drag on business enterprise The existence of ;i targe ont-t;imlin:: debit payable on demand is also a riouiv. of weakness to the government in it informational relations. Modern wari.ir: is so expensive that it is almost as muc; a matter of money as men. A n;:t;o: suddenly confronted by r "e alternanv of i;rar or dishonor vrould be gi-eato handicapped by a large demand deb •which it must provide for at once, Great additional force is given to tbi.- oonsideration bv the fact that it Tronic be scarcely possible for this nation tt engage in war in its present situation— counting as port of the situation tine irn pacfeot development of clear conceptions •n the. tnbjeot of money in the iwindF of the people—without a ewpenaion of roscie payments; and a rewort to further issues of government notes. There ia no doubt that if our government were relieved of its existing dema,nd obligations and our currency system put in working order upon a gold "basis it would be entirely possible for us to go through a -war "without suspension of specie payment or any derangement of our monetary system. If' war should come, the value to the country of the ability to thus avoid the indirect losses following from depreciated currency, inflated pricey and financial demoralization would be so great that the burden of paying off now our demand obligations would be as nothing in comparison. We have a total volume of paper and silver in circulation amounting to $90S, 725.087, all resdng for its value on the credit of the government, less only the bullion value of the silver. That credit is maintainable only as a whole. The paper of the United States could not be dishonored and its silver upheld. It is necessary, therefore, that the government should kecip a large reserve fund in old. Such a fend in the hands of the overnment is defenseless against at- acfc. In countries where the government has no demand debt outstanding arid the gold reserve is held by banks he nation's stock of gold is capable of o:me degree of protection through the ate of interest charged for loans. But n.r government has no such resource. ts great gold reserve is an open mine ree to all" who bring its notes. And as he entire monetary system of the coun- ry hangs upon that one reserve the situation is one of uncertainty and hazard against which no insurance is possible. As against these serious disadvantages there is no advantage which can possibly be claimed for paper money in the orm of government notes over any oth- ^ form of paper money equally good except the saving of interest on so much to a»(iuat or nc*K! tfiat eouia tWTWnBc ander tbw plan, then all other securities, even govta:nm(!nt bonds, -would become valueless. The banks are bound together for the security of these notes to accomplish the same purpose that the deposit of bonds is intended to accomplish—namely, to guard against loss through the misfortune or bad management of single banks—and thus save the holder of a bank note the need of ascertaining the standing of soay bank The objection that is sometimes made that the larger banks in the great cities would not issue notes became of an apprehended liability for other banks, is "shown by statistics to be groundless. The year of largest bank failures was 1893.' but bad all the banks of the conn- try then issued notes up to 80 per cent of" their capital the amount of their assessment to make good the ascertained Geo, Brown, of Montloello, the ci'ly for a short visit with tiven. r«l»- of the public debt as is represented by ,he notes. But this supposed economy is more apparent than real. Indeed when we consider all the facts such notes are an extremely costly form of money. In order to create the gold reserve required for resumption in 1879, bonds were sold to the amount of $95,000,000. During 1S94-6 $363,315,400 more were scld to protect the same reserve. The situation was then complicated by a deficit in the revenue, and it may be said ihat the necessity for the later sales arose partly from that cause. Not to enter upon that question closely, it is clear that with interest to pay on $357,000,000 of indebtedness incurred chiefly, ,f net wholly,iu, consequence of the existence of the government notes and $100, 000,000 of reserve lying idle in the treasury, the saving in interest by the United States notes is a small gain compared -with the unending burden of providing for their redemption. We have already redeemed them in gold nearly twice over—$548,081,016—since 1879, and they are all outstanding yet. Worse than this, however, is the injury which results from the element of uncertainty which is inseparable from such a currency. Such injury is none the less real because it may be unperceived. It may go long unnoticed, like friction in machinery or malaria in the air, but it has its effect nevertheless, and when it reaches an acuto manifestation, such as we have experienced within the lasi: five years, the loss occasioned is beyond computation. The iSilver Currency. Wa have $354,355,031 of notes of $5 and under and $60,19 6,788 of silver dollars in actual circulation, making a total of $414,551,819 of current money in use, exclusive of gold, in denominations of $1, $2 and §5. Our total stock of silver dollars is 11453,713,792. This is an excessive quantity to have at the existing discrepancy between their legal and actual values. But with further coinage of them discontinued and their parity assured by the exchange of gold for them on demand it iis better to retain them as they are than to attempt a final solution at this time of the problem which they present. By withdrawing all silver certificates over $5 and all other notes under $10 a place will be made for nearly all the silver dollars in a way which will give the country the full benefit of them for current use without imposing upon the treasury any serious burden in deficiencies of that year up to the time of the comptroller's report of 1896 would have been only a-small fraction of 1 per cent. Hud 80 per cent of the capital of all national banks been -issued in notes upon the proposed plan since the beginning of the national banking system in 1863 the assessment upon the banks annually would have been an amount so insignificant that it need not be taken into account. Taking the country banks as a whole, it is found that on Oct. 5 last they had .$40],000,000 of the $031,000,000 of national bank capital. Should they issue notes up to 80 per cent of that capital they would have $321,000,000 of notes, and there would be $1,956.000,000 of resources against these notes, not counting stockholders' liability. If these resources of the country ba^ita are insufficient security for this amount of notes, they will be insufficient only because there would then be such a condition of business paralysis that government, municipal and railway bonds would be valueless;, and also few if any banks in the reserve cities would remain solvent The occurrence of this disaster is so improbable that its consideration may be dismissed. In some quarters fear is expressed that there would be an undue expansion under this plan. There is no danger of this. The system of redemption sot only at the banks, but at the treasury in Washington and at the subtreasuriee, would strongly guard against that. The expansion over that which could be effected were no notes issued at all will be found upon investigation to be small. Dangerous expansion does not take the form of the issue of bank notes, but of the extension of credits. Very few borrowers take their loans in the form of bank notes. The bank note is only one form in which he to v?horn credit is given will use that credit. He can use it equally well for most purposes if the loan is placed to the credit of his account by the bank making the loan to him, or by some other bank or by a private person. The existing tax of 1 per cent per annum on circulation is repealed. In its place taxation of capital, surplus and undivided profits- is provided. The is sue of circulating notes is only one form in which a bank expresses its de mand liability. The other form, deposits, is. under the development of modern banking operations, of vastly greater importance and the one which in cities and highly organized commercial communities is most used. In Octo- 'ber, 1S97, the country banks issued more than 72 per cent of all notes issued. The reserve banks, except those of the central reserve cities, New York, Chicago and St. Louis, issued more than IS per cent, New York more than 3 per cent, and Chicago and St. Louis together about one-half of 1 per cent. Surplus and undivided profits and capital show the profits and property of banks, and these are certainly more legitimate objects of taxation than, the mere instruments which banks may be called upon by their customers to issue to serve chiefly the convenience of those customers. This tax makes as equitable an apportionment of the expenses of the system as can be devised. Plan of Currency Reform, L _ M ETALLIC CUBKESCY AKD DEMAND OBLIGATIONS. 1. The existing gold standard shall be maintained, and to this end the standard unit of value shall continue, as now, to consist of 25.8 grains of gold How* This! We offer One Hundred ItollMi toward Hr «>7 C«i* of Catarrh that cannot b« cured fcy Hall'* Catarrh Care. F. J. CHKNKT * CO., irops^ ToiedOv O, We, the undersigned, nave known F. J. Cheney for vne la« 15 years, mnd b*Uer« kim*> perfectly honorable to all tm&tneM trann«- lions and financially able to carry out any ofc- HgatioE* made by their firm. Wigr Si TIICAX. Wholenale Druffgiitt, Tol«d« Ohlo. *AijDHio, KUCHA* * HARVW, Wnolea*)* Druggim Toledo, 0- Hall's Ctttftrrt- Cure is taken Inwardly, awing- directly upon the blood and mu- oous surfaces of the system. Prioe, TSe p«r bottle. Sold by all druggist*. T««timonl»l» lent free. Hall's Family Pills are the best. EU Greenslelder joined his familf at Lafayette today on a visit witU- relatives. Great Triumph. Instant relief and acpermttnent cure by ta* freac rem«dy. Otto's Cure for lung imd throal- iiseastis. Why wllllyou irritate your throat and lungs -with a hacking: coujrh when W. H*.Porter, corner Fourtu and Market streets, fctm agen t, will furnish you a free sample bottle •! this guaranteed remedy? Its success i« wo» derful, as your druggist will tell you. Swnpl* ree. Larije bottle 50o and S5c. Miss May Matilove, woo- has bee« visiting here, left tots afternoon for her home at Terre Haute. HbeumatHni Cured in a "Mystic Cure" for rheumatism and B««-- raUia radically cures lu 1 to* days. Inaction upon the system Is remarkable an* mysterious. It removes at once tfce «*uat> and the disease immediately disappears. Xk* IrBt dose irreavly benefits. 75 wnui. Sold by W. H. Brlnghurst,.'druggi«t, LcwaB*- port. Scrofula is the advertisement of foul blood. It may be entirely driven from the system by tlie faithful use of Hood's Sarsaparllla, whlck thoroughly purifies the blood!. Hood's pills are easy to take, eaij to operate. Cure tnd'gestlon, bllloua- ness,- 26c. James Maloney has purchased froia George W. Seybold the housa and lot at No. 219 Melbourne avenua. } Glad Tldln<i. j The gp.'scinc for dyspepsia, liver oomplalit rheumatism, costivtness, general debility, e*. is Bacon's Celery King; for the Metre*. T»» grant herbal tonic stimulates this dljeftli* organs, regulates'the Jlver and restore* *• system to -rigorousjhealth and onerijios. ?•»• pleefree. Large packages SOc andi 26c. Sf* only by W. H. Porter, corner Fourth and Market streets. • Notice of Election. The annual meeting of tb r share holders of The-Gt r National Bank of Logan port, Indiana, for the ele tion of nine directors for ensuing year, will be he I at their office on T ttesda January llth. ten o'clock a. o'clock p. m. F. R. Fowler, HUMPHREY? WITCH HAZEL their maintenance. Bunking Sy«tera. The chief difference of the proposed from the existing system of bank notes is that it gradually does away with the. requirement that there shall be a deposit of bonds with the governmeut as a condition for the issnance thereof. As now the notes are to be a first lien upon all the resources of the banks, including the stockholders' liabilities. This change is necessary because of the scarcity of United States bonds, and the attempt to substitute other bonds would lead to many evils. The change is wise because it permits the issuance of iiores in the way and at the time when and for the purpose for which they would be issued under natural conditions if no law prevented. Such a system would more perfectly than any other give the country a circulating medium. It would readily and quickly adjust itself from geason to season to meet the vrants of the business of the country requiring bank notes for its convenient transaction. Under the present system the problem presented to a bank when its customers call for currency is not the amount of its own assets, but its ability and desire to make an investment in something quite apart from its usual business as a bank, in order that it may be in a position to provide a man who wishes to move property or employ labor •'with the tools most convenient at the time for his purpose. Notes secured as herein provided cannot fail to be safe because, being based upon all the resources cf all the banks issuing them, they are based upon the whole business of the country, and that business is 'the thing which give* life «nd value to all securities, government, municipal, railway and individual obligation*. Should all the ze- aoazou of the b^nks ever so shrink in TthwMBOt to b* ample mrorUyfor •nine-tenths fine, or 28.22 grains of pure .gold as now represented by the one- tenth part of the eagle. All obligations for the payment of money shall be per- fo'rmed in conformity to the standard aforesaid, but this provision shall not be deemed to affect the present legal tender quality of the silver coinage of the United States or of its paper currency having the quality of , legal tender. All obligations of the United States for the payment of money now existing or hereafter entered into shall, unless otherwise expressly provided, be deemed and held to be payable in gold coin of the United States, as defined in the standard afore'said. 2. (In substance.) Gold coinage as now. 3. So silver dollars shall be hereafter coined. 4. 5 and 6. (In substance.) Coinage and redemption of subsidiary and minor coins as now. 7. There shall be created a separate division in the treasury department, to be known as the division of issue and redemption, under the charge of_an assistant treasurer of the United States, who shall be appointed by the president by and with the advice and consent of the senate. 5. To this division shall be committed all functions of the treasury department perssiining to the issue and redemption of notes or certificates and to the exchange of'coins, and this division shall have the custody of the guarantee and redemption funds of the national banks and shall conduct all the operations of redeeming national bank notes as prescribed by law, mnd to ^is division shall be transferred all gold coin held against outstanding gold tartifi- oaten, all silver dollar B held againy ont- ituiding fUrer certinc*te«, all United dD c u R E S Pikss or Hsmorrhoid« Fissures & Fistulas. Burns & Scalds. Wounds & Bruises. Cuts & Sores. Boils & Tumors. Eczema & Eruptions. Salt Rheum & Totven Chapped Hands. Fever Blisters. Sore Lips & Nostrils. Corns & Bunions Stings & Bites of Im Three Sizes, ajc, 500. and Ji.oft , Ill * 111 THENEWWOI Pennyroyal SAFE, SURE AND HCLIAI BroecUUy recommendga to M ' A«k your dnwfUt for MWI and t«k« no other. Th*Z.f > J Svt a<Ml MMM* *?" >1 "™H-5 box. Sent by mall »P«"J52 AdftrwM all ordwr»to»4T«rtl«» PC**"* MKDICINC CO..

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