THE MORNING- OREGONIAN, THURSDAY, .NOVEMBER 13, 1902.
INCREASE IN GOLD
Nations Have Larger Stocks
Now Than a Year Ago,
MINERAL OUTPUT OF THEWORLD
Silver Market Han Been and Is Still
Greatly Depressed Director of
the Mint Snumits His
Annual Report.
misHTVCTnK. Nov. 12.-George E.
Bobcrts. Director of the Mint, today com-
" - nt I
pleted his report upon ine p7": " ar
the precious metals for the calendar year
1901. The final figures ior me "uim
put by countries are as follows:
Country
United States ....
liOIQ. "ouva.
$ 78,666,700 J 33.128.403
10,284.800 34.593.900
24 128,500 3.145.600
Mexico
Canada
Africa
Australasia
Russia
Austria-Hungary
Germany
Norway
Sweden
Italy
Spain
Portugal
Greece
Turkey
Finland
France -'
Great Britain
Argentina .
Bolivia ...
. Chile
Ecuador
PrazH
Venezuela
Guiana (British)
Guiana (Dutch)
Guiana (French)
Peru
Uruguay
Central America
Japan
China
Corea
India (British)
East Indies (British).
East Indies (Dutch)..
. 9.059.DW
. 76.880.200
.. 22,850.900
7,829,500
94.200
1,198,000
3,113.000
99.500
32.400
450.800
. 2,136, IX
59,800
41.700
35.300
S.600
1,300
"24500
1.300
276.S00
0.000
119.600
1.067,200
110.000
2.775.400
321.200
1,771,000
405.400
2,000.000
1.329.200
31.700
; cio.soo
,1.201.600
9,901.500
- 4.5OD.0O0
9,395.900
S61.700.
435.000
1.911.200.
2.3W
692.300
257.700
4.700
271.300
133,000
27,000
6.152.CO0
1.129.000
4.600
3,360,500
500
527.803
1.037.800
48.530
Totals
.$263,374,700 ?101.S99,100
Commercial value.
The total number of fine ounces of gold
produced was 12.740,746, and of silver, 174.
998,573. the coining value of the latter be
ing ?226.260,700.
The imports and exports of the precious
metals of the principal countries during
the calendar year 3901 are exhibited in the
subjoined table. The Information relating
to foreign countries was received princi
pally through representatives of the
United States in those countries:
Gold Imports and Exports.
Gold Imports and exports were as fol
lows: Country
United States ..
Afrioa ..'
Imports. Exports.
.$ 54.-761.SS0 $ 57.783.393
Austria-Hungary 35.731,855
7.585. ta3
Canada 4,o.suj
Costa Rica 387.0
Denmark S0LO30
Epvpt 14.677.469
France S2.79S.15S
Fed. Malay States.... 870.878
Germany 61.126.228
Great Britain '. 101.0C0.5SS
India 26,957,409
Italy 914.944
Janan 5.308.563
Corea 1.290
Mexico
Netherlands 4,207,059
Nicaragua -
"nnrav 516.3S6
24.7H.S90
. 550.C10
11.97L274
27.985.000
S75.S52
12.278,509
67.961.962
20.666.059
2.067.640
5,770.562
2,450.737
9.593.594
691.606
455.000
Slam 2,361.450 79.700
Sweden 731.461
KrtHtoTlnnr! 13.407.332 4.009.891
Russia 4.459.685 34,870.237 J
Portugal 122,387 1,353.909
The net exports of Australasian gold are
estimated at $76,850,200. and of Chinese
gold. $9,091,500.
Silver Imports and Exports.
Silver imports and exports were as fol
lows: Country Imports. Exports.
United States $ 31,146.782 $ 55,668.358
Africa 1,744.947 55.984
Argentina 23,995.000 98.996
Austria-Hungary 993.975 1.263.382
Bolivia 13.691.268
Canada
242,215
2,136.359
47.943
Costa Rica
Denmark -
Dutch Guiana
Ecuador
Egypt
France-
Fed. Malay States..
Germany
Great Britain
India
Italy
Japan
Corea
Mexico
Netherlands
Nicaragua
Norway
Peru
Siam
Sweden
Switzerland
Russia
China
Hong Kong
Straits Settlements..
East Africa j
Arabia
Ceylon
Persia
Turkey
Australasia- (net)
52.560
576,376
1S.8S5.433
11.063.574
4.479.737
61,141.061
39.SS5.187
1,430,707
154.255
450.557
2.279.875
' 3.278.03S
50.000
187.264
6.7S3
762.207
83.062
8.429.956
4,818,548
4.334.047
7.623,616
13,7S7.O04
606.510
617.226
2.011.2S0
393.217
SS6.462
2S.097
50.972
27,117.335
9.432,220
6.9S1.031
58.640,532
16,549.234
1.39S.W4
L2S1.509
100.473
50,609.606
SS9.C57
50.520
'98,712
186.916
2.27S.442
1,905.930
148.310
3.747
167.333
32.227
266,805
1,154,470
236,105
6.0S9.S58
Mr. Roberts says that the annual con
sumption of the precious metals Is esti
mated In round numbers at $80,000,000 gold
and $57,000,000 silver.
Silver Market Dull.
The silver market was depressed
throughout the year. The highest quota
tion on the London market was 29d, on
January 2, and the lowest 24 15-16d, in De
cember. The purchases on account of
the government of India fell off heavily
from the preceding year. The coinage
of the Indian mints for the 11 months
ending with February, 1902, was only 48,
607,600 rupees, against 150,780,754 rupees in
the same month of the previous year. The
demand for China also declined, owing to
the retirement of most of the foreign
troops called there during the Boxer
troubles of 1900. While the troops were
there the shipments of silver were excep
tionally large, and after their retirement
silver bars and Mexican dollars accumulat
ed at the seaports in unusual amounts,
rendering further imports for the time
unnecessary. The European demand for
silver for qoinage purposes is light, as the
governments are pursuing the policy of
supplying needs for subsidiary coins by
the recolnage of full legal tender coins.
About 30 per cent of the silver output of
the United States is from silver ores, the
remainder being reduced in conjunction
with k-ad and copper.
Increase in Gold Stocks.
After allowing for industrial consump
tion, the Increase in the gold stocks of the
principal countries for the calendar year
1901 is estimated to have been approxi
mately as follows:
United States
Austria-Hungary
Belgium
Great'Britain j
India
France
Germany
Italy
Japan
Netherlands
Portugal
Roumania ,
Sweden
Switzerland
$63,800,000
27.600.000
1,900.000
17,000.000
5.800.000
40.400.000
41,700,000
3,500,000
L700.000
5.600.000
2,300,000
- LSOO.OOO
...... LSOO.OOO
3.500.000
The only countries showing a loss dur
ing the year are Norway, $1,600,000, and
Russia, $9,700,000.
WOOD IS TO BE PR03IOTED.
"Will Become Major-General Along:
With Wade and Sumner.
WASHINGTON, Nov. 12. The slate for
the promotion to Major-Generals to fill
vacancies caused by retirements tnat wi.i
take place next year has been arranged.
There will be three vacancies. - General
Hughes retiring April 11, General Davis
July 26. and General Miles August S. The J
latter Is Lieutenant-Generai, anu wm ne
succeeded by Major-General Young. The
Brigadiers to be promoted to be JMajor
Generals are James F. Wade, Samuel S.
Sumner and Leonard Wood. These men
are now the three ranking Brigadier-Generals
in the order named.
General Wade has been a Brigadier-General
since May, 1897, and has seen many
men advanced to the higher grade, while
he has remained stationary. It is pre
sumed that he will succeed General Davis
in command of the Philippines when the
latter retires next July. It is expected
that Colonel H. C. Hasbrouck, of the ar
tillery, will be made a Brigadier-General
and retired, and that Colonel F. Moore, of
the cavalry, wjll be selected for a longer
service.
INDIAN EDUCATION A SUCCESS.
t
Kansas Graduates. Are Generally
Making: Ncvr Records.
WASHINGTON. Nov. 12. Superintend-
ent .reairs, oi xiasKeii anaian insiuuie,
in'Kansas, in his annual report, says that
although at times the results of the work
of education among the Indians do not
satisfy the onlookers, to those who are
in the work and therefore have opportuni
ties to observe the gradual development
of Individuals, there is more and more
of encouragement and satisfaction.
As proof of the permanent good re
sults of training the Indians, the report
says that of 95 graduates previous to the
class of 1902, at least 77 are at work earn
ing their own living, and in many In
stances aiding needy parents or support
ing in a respectable way a little family
of their own. Of the 41 graduates of the
class of 1902, it is stated there Is not one
but that is qualified to make a record
enual to the earlier graduates. The un-
der-graduates are also making excellent
records. The fact, however, that the
nercentage of successes among under
craduates is not as large as among grau-
uates is cited as a strpng argument in
favor of the continuation of thorough ed
ucational work.
There Is a constantly Increasing demand
from among the Indian population of the
country for enrollment at this and other
schools.
MINISTER HUNTER RESIGNS.
Leslie Coombx Is Named to Repre
sent America in Guatemala.
WASHINGTON, Nov. 12. W. Godfrey
Hunter has tendered his resignation as
United States Minister to Guatemala. The
President has accepted the resignation,
and has selected Leslie Coombs, at pros
ent United States pension agent at Louis
ville, to succeed Dr. Hunter as Minister
at Guatemala City. Dr. Hunter Is also
Minister to Honduras, and ;Mr. Coombs
will likewise assume that post. ur. nun
ter has had a stormy career In Central
America ever since he went there 1n 1S9
It is assumed that he has at last become
tired of the struggle, for it has been
known for some time that he contem
plated resigning. The place pays $10,000
a year.
BOODLER BUTLER ON STAND
He Tried to Get No Laws Through
Unless Directly Interested.
COLUMBIA. Mo.. Nov. 12. When the
trial of Colonel Ed Butler for alleged
attempted bribery was resumed today, Dr.
Albert Merrell. a member of the St.
Louis "Board of Health, was put on the
stand by the ptate. He testified that But
ler had come to his house in Septem
ber, 1901, previous to the approval of the
garbage act by the Board of Health, and
offered him $2400 to secure its passage.
Dr. Merrell related two interviews had
with Butler. His narrative was one of
attempted bribery paralleling .tha told
by Dr. Chapman yesterday, a long cross
examination failed to alter a detail.
Colonel Butler was put on the stand at
3:50 TV M., and was questioned for 15
minutes, during which time he denied
visiting Mrs. Merrell and Chapman. He
testified as to his occupation and connec
tlon with the sanitary and hauling com
panies.
"Didn't you make your general business
the passage of ordinances through the
Assembly?" asked Circuit Attorney Folk.
Butler's attorneys objected. -Butler half
rose from his chair.
"I want to answer that question
Judge," he said. "If you mean to ask
whether my business has been general
bribery, I say emphatically no."
"Not your general business, but haven'
you ever endeavored to secure leglsla
tlon?"
"Not unless I was directly interested In
the legislation."
"How Interested?"
"As a stockholder."
After some 'testimony In rebuttal, the
defense rested, and court adjourned up
til tomorrow.
DAILY CITY STATISTICS.
Marriage Licenses.
John R. Ashford.34; May Rosetta Pearce. 33.
Charles T. Griffin, 22; Zadle Delia Simmons,
19.
Adolph W. Hamersmlth, 3S; Lydla A. Gun
ther. 28.
Baebees Stevens, 40; Dorsla Cappions, 24.
Arthur Blgnaml, 21; Julia Vismara, 21.
Births.-.
November 11, boy to the wife of D. Bays,
CG4 Klrby street. ,
November 0, boy to the wife of V. H. Mc
Cord, Portsmouth.
November 7, boy to the wife of Frank Hill,
555 Raleisth street.
Death.
November 0. Helen E. Turnbull. 1 year 11
months S days, 390 Sacramento street; laryn:
gltls.
Contritions Diseases.
Hugh JIacmaster, University Park; scarla
tlna.
Braus, University Park; diphtheria.
nnildlnp Termits.
J. B. Bridges, two-story dwelling, Montgom
ery, betweeen Seventeenth and Chapman
S2C00.
Mistress Groce, two-story dwelling, Vaughn,
between Blackstone and Twenty-second streets
$1650.
Real Estate Transfers.
. P. Thompson to R. E. Menefee. lots 1,
2. 6. block 1: lots 7. S. block 15. Lincoln
Park Annex $2000
Gottfried Jaster and wife to John Johnson.
lots 7 to 12. block 10, Simon's Add 2300
J. H. Lalne and wife to C. L. Reames.
lots 6 to 0. block ,1. Holmes' Sub.; lot
5, Glenwood Park
P. H. Marlay to C. R. Donohoe, lots 5,
6. block 181. Caruthers
Astoria Packing Co. to same, same
E. Edmonds to G. W. Edmonds, 40 acres
In sec 4. T. 1 S.. R. 2 B
E. and H. Leltz to Wm. Randell. lot 23.
block 10. and lot 25. block 5. Tremont
Place 300
Geo. F. and C. E. Hubbard to G. J.
Kauftmann, 100x130 feet In sec. 31. T.
1 N.. R. 2 E..v- 500
Ira Padrlck to Ida L. Clark, lot 7, block
17, Lincoln Park 800
W . T. uuamson ana wire to A. L. Pow
ell, lot 24. Bodley'B Add
Point View Real Estate Co. to W. S.
Calkin, lota 9 to 12 and 23 to 20, block
4. Point View 40a
Point view Keai Estate co. to Anton Ol
son, lots 1 to 8 and 29, 30. block 4.
Point View 500
E. H. Busnell -ana wire to Ore., av. P. &
Ry. Co.. 83 rods 8 links by 44 rods. In
sect. 20. 20. T. 1 S.. R. 2 E 35
31. and Tvm. vascner to ore. w. P. & 1
Ry. Co.. lot 29. DeLashmutt & Oat
man's Little Homes; Sub. No. 2, being
a subdivision of ec 21, T. 1 S.. R.
2 E 100
Peninsular R E. Co. to City of Portland,
parcel land, blocks 65 to CS. Peninsular
Add. No. 2: east of line 70 feet. "West
from East line Pennsylvania ave
W. J. Thomson 'and wife to E. A. Kav
anauKh. lot 1. block 2. Central Albino..
D. and "W. 31. Kllllngsworth to W. J.
Thomson, lot 1. block 2. Central Alblna 225
Geo. B. Lardner to M. F. Prince, lot 11,
block 1C. Central Alblna 300
E. S. Lovelov and husband to N. E. Wil
son, port lot 6. block 10. Central Add... 1700
bneriir, for Com. Nat. Bank et ai.. to js.
C Johnson, lota 5 to 8. block 182. Port
land 2000
For Guaranteed Titles
See Pacific Coast Abstract. Guaranty
Trust Co.. 204-5-6-7 Falllns building.
FOR FLEXIBLE CURRENCY
AMERICAN BANKERS' ASSOCIATION
GOES OX RECORD.
"Ex-ControJIcr Darren, Representative
Fowler and Horace Wliite Dis
cuss Financial Problems.
NEW ORLEANS. Nov. 12. The second
day's session of the American Bankers'
Association was resumed today, after
prayer by Bishop Rauxcl. John T. Ham
ilton, chairman of the committee on fidel
ity Insurance, took up the report of that
committee, which was presented yester-
day. The discussion of the currency
question was then begun. Representative
Charles N. Fowler spoke on assets,' cur
rency and branch banking. He explained
the features of his bill extempore. Rep- I
resentative Fowler criticised the bankers
freely, and was given an ovation when he
had concluded, although more than once
hen he asked If the convention did not
ADDRESSES BANKERS' CONVENTION ON FINANCIAL
REFORM. '
EX-CONTROLLER
agree with the "doctrines he was expound
ing he was answered by cries of "no."
In the course of his speedh, Mr. Fowler
said:
"During the past five years, which has
been a wonderful period in the history of
the country, the balance of trade in favor
of the United States has been $2,700,000,000.
Add to that our production of gold of
about $300,000,000 and the grand total is
$3,000,000,000. Judging frqfn that we ought
to have $3,000,000,000 mo;e than we had in
1S96. How much have we added? We have
added just $500,000,000 as arnatter of fact.
We have .approximately $1,500,000,000 of
money, and have on the other side coming
due in the next three or four months about
$300,000,000 of obligations. Ho.w are we going
to stop the gold going" to England? It is
Impossible. The whole of Europe can come
into our Treasury and shovel It out by the '
bucketful. Such a condition would not
exist if the United States notes were re-
tired, and the burden was thrown on the
hanVs. Never was there a greater need
than now for a financial system in this
w,ot ic cimnu- n
luiiim. .v, j
catcn-as-catcn-can. go-ua-yuu-pieii&e sun
of arrangement. The 18.000.coo people lit
this country who are converting their
rnrfots into S20.000.000.000 annuallv and
1 . , J; , ,1ftA
scnaing exenange uuuhui.uk auuvc ic
000.OC0.O00 mark are entitled to a system of
that is above the caprice of a Secretary of
thi Treasury."
-R-r-rnntrniiM- Tnwfs and Editor Horace
, voru -pnt nicn
. -
auurusees.
At the afternoon session J. J. bulllvan, f
of Cleveland, offered the following resolu-
tlon, which was adopted without objection: '
"Whereas, experience has demonstrated
the inadequacy of our present currency
system, and believing that the best inter
ests of the country demand a flexible as
well as a staoie currency, oe it
"Resolved, That the American Bankers'
Association recoras us unu.uauueu appruvui
of the enactment of a law imparting
greater degree 01 elasticity 10 our currency
system, making It responsive to the de
mands of the business Interests of the
country.
"Resolved, That we favor the appoint
ment by the president of this association
of a committee of five members of the as-
soclation, selected with reference to their
ability and high character as bankers, and
and their experience In monetary affairs,
and .representing different parts of the
country, for the purpose of carefully .con
sidering the entire subject and report to
the next meeting of the association."
A. J. Frame, of Milwaukee, called up
his resolution, reported without action by
the executive council, opposing in vigorous
language the proposition for asset cur-
rency and branch banking. Chairman
-rn,-l r u .K.. nn,1nll onM
XJlgeiUtV, Ul Lilt: c Luunui, ou.u
the council had declined to act on the
resolution because it did not believe It
wise to place the association on record on
that subject before an adequate solution
had been offered. The resolution was re
ferred back to the executive council by a
vote of S3 to 47.
Representative C. A. Pugsley, of New
LYork, then delivered an address on "An
Emergency Currency. The convention
adjourned until 9 A. M. tomorrow. All
the Important business has been concluded
except the-election of 'officers.
Tonight the entire convention was given
a theater party at the Grand Opera.
Dawes on Financial Reforms.
Ex-Controller Charles G. Dawef, In dis- medicines and different doctors, but did not feel
cussing "Financial Reforms," at the morn- much better. I coughed until I commenced spit
ing session said: , &ng blood, but now I feel much stronger and
,T,. . . , , TT ,. . t . am entirely welL Dr. Pierce's Golden Medieal
Financial reforms of the United States. Discovery is the best medicine I havcever taken,
with Its vast population and diversified My home is in Williamsburg, Virginia."
ofevolSloT' Dr Phac-jjt Pellets, are a la
tor which in matters affecting all classes dies' laxative. No other medicine equals
of the people determines the trend of them for gentleness and thoroughness.
legislation In representative governments.
A general public perpeption of the need ol
reform in" our currency laws will lead as a
rule to corrective legislation, provided our
lawmakers and currency reformers will
advocate practical plans which are not so
radical as to be at variance with and in
advance of public sentiment.
- "Whatever may be our individual the
cries as bankers as to branch banking
and''asD2t and emergency circulation, we
should view with distrust and apprehen
sion as practical men the extremely rad
ical and comprehensive measures suggest
ed at the. present, time, covering not only
asset and emergency .circulation, but
branch banking and Subtreasury changes
as well. The currency reformer should
ask himself, what are those simple propo
sitions out of all the many which havt
so long been discussed which the people,
not simply the bankers, can unite upon
and ha-c Incorporated Info law. To fin?
what
is the best practicable reform.
not simply which is . best theoretical
ly, should be our purpose as business men.
Let us take one step or we may not take
any."
Sneaking of the branch bank system, he
said:
"The tendency would be to curtail the
number of small loans, where personality
and character are elements in the con
sideration of loan applications by the. local
bairks. The Branch bank, operating under
CHARLES G. DAWES.
less expense thap the independent bank,
can take the bulk of the deposits by offer
ing a higher rate of interest to deposit
ore
A natural result, he said, would be the
gradual extermination of small Indepen
dent btrnks. He added:
"Branch banking may come In times
when still further the great process of in
dustrial centralization and natural devel
opment shall have continued, but It is not
time for it now. and from the standpoln
of public policy as bankers and as cltl
zens, we should oppose It at the present
time. 1
"What we should do now Is to consoll
date our whole efforts behind some meas
ure for an elastic circulation, the nied of
, which we all feel." s
White Talks of Asset Cnrrency.
Horace White, editor of the Evenln
Post, of New York, spoke on "Asset Cur
rency" as follows
"Let me explain what we mean by as
set currency. This Is a phrase pecu
Mar to our own country. Properly speak
lng, all bank notes are asset currency
; since their goodness depends upon the as
1 seis 01 ti.e ispuing DanK. rnis Is true
, own a"?na.- DanK notes. slnce e
bonds deposited .in tne Treasury as security
, foj-.them arc fleets of the issuing bank.
So tne distinctive feature of ass.ct curren
. cy, as we use the term, is that the bank
t Itself holds all the assets on which the
soouneas or tne notes depends, instead of
depositing eome part of them in the United
atnt TppnailPV Tho fnr w,.n
a portion of them in the 'Treasury is to
guard against loss through bad invest
I mcnt, fraudulent management or robbery,
' "These banking risks exiit always and
everywhere. Yet asset currency prevails
- 4 ln all civin2Cd countries except the United
. statfs and that part of Great Brltai
To take cold. It's so common to neglect
cold Thht is one reason why there
manv rjeode Yith "deep-seated,"
a stubborn coughs, and so many more with
lun trouble."
- , The short, quick way to cure a cough
is to use Dr. Pierce s
! Golden Medical Dis-
cover'. The quicker
this remedy is used the
quicker the cure. But
even when neglect has
let disease fasten on
the lungs, "Golden
Medical Discovery"
may be relied on to
cure in ninety
eight cases out of
every nuuured.
The only motive
for substitution is
to permit the dealer
to make the little
extra profit paid on the sale
f t " 1?
of les3 meritorious " medi
cines. He gains. You lose.
Therefore accent no substi
tute for "Golden Medical Discovery."
"I am feeling quite wcll.r writes Miss Dorcas
A. Lewis, of No,, 1129 24th St.. Washington, D. C
"My cou;rh in very much better,- and 1 owe It all
to Dr. Pierce's Golden Medical Disctrrerj. I
cannot sav too much in praise of the medicine.
I had been ouite a sufferer for a loner time, and
after reading Doctor Pierce's Common Sense
Medical Adviser thought I would try his Golden
Medical Discover'.' I commenced taldnir it la
Mav, 1890. Had not been sleeping well for a long
time. Tcok one teaspoonful of Dr. Pierce's
Golden Medical Discovery and slept nearly all
nieht without coutrhiiur. so I continued taking
it. I am in great sympathy with everybody who
suffers with a cough. I had been a sufferer for
mnm f lion ton fo T tr?1 lnta nf niffrrtlt
"
nn
called England. It exists in Scotland
and Ireland, as well as on the Continent of
Europe. Bank notes secured by asse's
not under the control of the Issuing bank
are the very rare exception , to a general
rule.
Mr. White devoted much of his address
to an explanation of the Fowler bill, em
bodying the principle of asset currency
which was before Congress last Winter.
'Asset currency," said Mr. v White,
ought to be better than Government
notes, because the assets .of the banks
consist of the circulating properties of
the country. If these assets are not
good, nothing Is good. If they were not
good, the Government could not long ex
ist. The assets of the bank ;,are partly
casA.ai?2 partly almS UP.n the ?,r,?dU,CfI.3 i
and "holders of the country's wealth of ev
ery description. The Government has
nothing but the right to tax. and this
is effectual only ln so far as the producing
power of the country ln which the capital
and dppcslts of the banks are invested 13
profitably employed.
"One feature of the Indianapolis plan 01
asset? currency which has not attracted
the attention that It deserves, provides
that- the Government shall hold a 5 per
cent redemption fund for all bank notes
as now: also a 5 per cent guarantee fund.
with the power to replenish it by taxation
when needful: also a paramount lien on
the assets of failed banks and on the
shareholder's liability for the redemption
of the notes of such banks. Having sup
plied the Government in this way with
the means for redemption ot bank notes,
it provides that the Treasury shall receive
at par all such notes ln payments to itself
except for duties on imports, and that it
shall not pay them to its own creditors
without their consent. Under this plan,
therefore, the noteholder can lose nothing
because he can use the notes In payment
to the Government, and the Government
cannot lose, because it is armed with the
power to recoup Itself.
"It behooves the bankers of this country
and the legislative bodies of the country
to prepare such an emergency currency
as will take the place of clearing-house
certificates and relieve the distress which
attends not .only a great panic, but that
results from a demand for additional cir
culation in the moving, of the crops and
the undue contraction of the currency re
sulting from the accumulations from cusl
toms deposited in the United States Treas
ury, which occur almost periodically each
year.
"Various plans have TDeen evolved for
the reform of the monetary system, and
a number of bills have been introduced ln
Congress during recent years for the pur
pose of giving greater elasticity to the
currency. .
"I do not believe .the American people
aTe yet ready for an asset currency, pure
and simple, or for such a radical depar
ture In our currency system as Is pro
vlded for in the Fowler bill. I believe,
however, that an emergency currency en-
prove beneficial,, and would also test the ! tor -wwu- uwing to tne small per cap
working of an asset currency, to which i lta V exacted by the National body the
we may have to come when the Govern
ment bonds are no longer available as se
curity. Such an emergency circulation.
I believe, might be had, if the pre?ent law
should be amended so as to permit all
National banks holding Government bonds
as security for circulation to issue 10 per
cent additional currency on. the amount
of bonds deposited with the Secretary of
the Treasury, the same to be taxed at
the rate of 5 per cent per annum, and also
providing that all banks having a suVplus
fund equal to 20' per cent of their capital
should be authorized to issue 10 per cent
of assets currency, to be secured by ap
proved bonds or by bills receivable spe
cifically set apart for that purpose, as in
the Bank of France."
Cereal Workers' Strike.
CHICAGO, Nov. 12. Over 300 employes
of the Ellsworth & Co. cereal plant struck
today and business is practically at a
standstill. Later the strikers held a
meeting and formed the Cereal Workers
Union, and It Is asserted the strike will
spread to other cereal concerns unless
thplr demands are granted. The majority
of- the workers are girls, and they have
been receiving pay on the piece-work
plan, and under this arrangement the
weekly wage ranged from $6 to $15. They
now demand a straight wage of ?1 25 as a
minimum wage for day work, and $1 50
for night work.
"Mark Twain'" Wife 111.
NEW YORK, Nov. 12. Samuel L.
Clemens (Mark Twain) has been obliged
to cancel all his engagements for the
time being, on account of the Illness of
his wife at Rlvcrslde-on-the-Hudson.
Mrs. Clemens, before her marriage In 1SC9,
was Miss Olivia, daughter of Jarvis Lang
don, of Elmlra. Sie Is CO years old.
Illinois Merchant Bnnkrnpt.
CHICAGO, Nov. 12. John W. Young, a
hardware merchant of New Bedford, 111.,
was declared a voluntary bankrupt today
and a receiver was appointed. Liabilities
are scheduled at $50,910, mostly unsecured;
assets. Jf,9.9.sf. chlpflv merchandise.
One may sail the seas and visit every land and everywhere will find,
that men of affairs, who are well Informed, have neither the time
nor the Inclination, whether on pleasure bent or business, to use those
medicines which cause excessive pnrgation anil then leave the internal
organs In a constipated condition. Syrup of Figs Is not built on those
lines. It acts naturally, acts effectively, cleanses, sweetens nnd strengthens
the Internal organs and leaves them in a healthy condition.
If In need of a laxative remedy the most excellent Is Syrup of Figs, but
when anything more than a laxative Is required the safe and scientific plan
is to consult a competent physician and not to resort to those medicines
which claim to cure all manner of diseases.
The California Fig Syrup Co. was the first to manufacture a laxative remedy
which would give satisfaction to all; a laxative which physicians could
sanction and one friend recommend to another ; bo that today its sales probably
exceed all other laxatives combined. In some places considerable quantities of
old-time cathartics and modern Imitations are still sold, hut with the general
diffusion of knowledge, as to the best medicinal agents, Syrap of Figs has come
Into general use with the well-informed, because it Is a remedy of known value
and ever beneficial action.
The quality of Syrup of Figs is due not pnlyto the excellent combination of
the laxative and carminative principles of plants, known to act most hcneflcially
on the system, with agreeable and refreshing aromatic liquids, but also to the
orginal method of manufacture. In order to get the genuine and its beneficial
effects one should always note the full name of the Company California Fig
Syrup Co. printed on the front of every package.
NATIONAL GRANGE MEETS
ANNUAL SESSION OPENS WITH A
LARGE ATTENDANCE.
PreHident Jones Tells the Farmers
How to Malce More Money Re-'
1 ports Show Prosperity.
LANSING, Mich., Nov. 12. The annual
here today, with delegates from 26 states
in attendance. Grand Alaster Aaron
Jones, in his annual address, congratulat
ed the order on its wonderful prosperity
during the past year. An Important part
of the work of the order, he declared, was
to make the farming industry more Im
portant and profitable, and he expressed
the opinion that the cost of production
can be reduced 10 to 25 per cent, and the
aggregate production of the farms of the
United States increased 50 to 100 per cent
by the adoption of the best methods. The
causes of present unsatisfactory condi
tions were said to be many, and Grand
Master Jones enumerated successive
charges and discriminations in transporta
tion, exorbitant storage charges, large
commission shortage, unequal taxation,
local and National dealings in options on
boards, of trade, trusts, adulteration of
food products, and official oppressive se
verity. Farmers were advised to provide
for the sale of their products ln such a
manner as T.ill secure to them what justly
belongs to them, and to this end Master
Jones recommended that the farmer
should ne;er lose control of his property
until It is needed for consumption. The
following recommendations In the line of
National legislation were made:
"The extension of free rural mall deliv
ery: postal savings banks; election of
United States Senators by the people; a
Constitutional amendment giving Con
gress power to regulate and control trusts
and other combinations: enlargement of
the power of" the Interstate Commerce
Commission; regulation of the use of
shoddy: pure-food laws; provision for the
extension of markets for products equally
with manufactured articles; enactment of
an anti-trust law clearly defining what
acts on the part of any corporation would
be detrimental to public welfare: speedy
construction of the Nicaragua Canal by
the United States, and speedy construc
tion of a ship canal connecting the Mis
sissippi with the Great Lakes.
The report ot Secretary Thrimble shows
that last year 256 Granges were or-1
ganlzed. Michigan' leading with 90. and ,
94 Granges were reorganized. For the last
quarter, ivew xotk paid per capita tax'
uu incmutio, .u-i"bjn i
!
receipts amount to Dut. w. ana it is
probable thab . within the next vyear a
movement will be started to increase the
tax so as to permit of more extensive
work being done.
This evening a public reception was held
,,, ,v, Tji, v t-, ' . ....
in the Hall of Representatives, where the
clal welcome-by Governor Bliss, Worthy
Master Norton, for the Michigan Granges,
and Mayor Hammell, on behalf of the
citizens of Lansing.
Methortiftt MInKionary Conference.
ALBANY, N. Y., Nov. 12. The general
missionary . conference of the Methodist
Episcopal church began ln this city to
day, with nearly all of the bishops of the
church and delegates from every confer
ence, district In attendance.
It was decided this afternoon that the
money at the disposal of the conference
for missionary purposes should be appor
tioned during the coming year at the ra
tio of 57i per cent for foreign mission
and i2t per cent for home missions.
Feneration of Chrlatinn Workers.
ALBANY, N. Y.,.Nov. 12. At the meet
ing of the Federation of Churches and
Christian Workers today, the question of
a world-wide federation of all denomina
tions was said- by Rev. E. B. Sanford,
National field secretary, to be one that
should have the, undivided attention of
all Christian workers. A general discus
sion followed, after which reports were
presented frdm. various local organiza-
tlons.
Daughter. of Confederacy.
NEW ORLEANS, Nov. 12. The ninth
annual convention of the Daughters of
the Confederacy began here today with
delegates from 20 stat.es- and their lady
friends and Veterans of Confederacy
present. General Francis T. Nichols and
other distinguished visitors occupied seats
on the platform. Mrs. II. A. Rounsville,'
president of the Daughters, presided.
France Alarmed.
PARIS, No.v. 12. Eugene Ellenne, mem-
V
3
VERY EASY
TO BUY
And Esy to Sell Pianos on
the Club Plan. -
Everybody Joining the Clubs at
tilers Piano House. No Time to
Hesitate Now. One Club Already
Full and Another One Well Up In
Numbers. The Way They are
Going Now, the Limit Will Soon
Be Reached.
"We anticipated success when we inaug
urated our piano club .organization. We
knew It was too good a-thing for the peo
ple, und we knew they would auickly
recognize It. But that we should meet
with such a phenomenal rush is a surprise
that taxes our salespeople and drays to
the limit. A sale we expected to last well
up to Thanksgiving now bids fair-to close
within the next two weeks. There are
only four hundred pianos included ln the
club plan, and one of the clubs was com
plete in less than ten days after the open
ing announcement.
Yesterday, among our joiners was Mr. J.
M. N.'ckum. of Sellwood, who took a
superb Chlckerlng; Captain Albert Crowe,
whose little daughter has circled the globe
nine Mmes, who chose a handsome San
Domingo mahogany Weber, and' Mr. W. J.
Hill, .who also showed his good judgment
by selecting a very fancy mahogany (the
famous Style IS) Weber. Eight other in
struments were sold In the city, and a
number outside.
THE PIANOS:
The pianos we are selling are the Kim
ball, the Weber. Chlckerlng. Decker. Doll
Vose, Lester, Hobart M. Cable, Haddort
and many other handsome standard
makes.
The Plan of Selling Them Is Thls:
We give to a "hundred buyers the same
price we would give to wholesale buyers,
and the instrument Is delivered immedi
ately upon your making your choice, with
out any fuss or ceremony. The cash pay
ments are all small, and the Installments,
which can be made either weekly 01
monthly, are extremely moderate.
Payments as little as $5.00 down and
weekly installments of 51.25 secure one ot
our fine pianos in. Club "A" tp you at the
SSX1,1? JuruaJPdth0s?.Jo,nlng,ial,ib
bailments of ?2. Larger payments may
be made, of course.- and those paying cash
THE ORGAN CLUBS
There are aIso two organ clubg nmlted
to but 100 members each,
I Club "OA" members secure a' fine new
organ by paying $3.00 down and weekly
I payments of 60 cents.
j A'n'
1 and .then 51.00 weekly. These small pay-
j mens secure to yoyu the finest oran3
made, fully warranted by the manufac
turer, ana areo Dy mis wouse.
If you are thinking of joining you had
better take the matter up without delay.
We cannot promise you this opportunity a
great while longer. Ellers Piano House,
351 Washington street.
Other stores at San Francisco, Sacra
mento and Spokane.
ber of the Chamber of Deputies, speaking
at a banquet at the Union Coloniale this
evening declared that the forming and
operation of the International Mercantile
Marine Company very gravely threatened
French commerce, especially France's
trade with her colones. He said the best
means of meeting this danger was to
abolinh the thousand and one formalities
at present fettering France's exterior
trade, and follow the example of Great
Britain as amplified ln the case of the
Cunard Steamship Company and subsidize
the Campagnie Generale Trans-Atlantique
sufficiently to enable' it to meet success
fully the competition of the Morgan
steamship combine.
Dnnlnh Conce.inlon to Americans.
ST THOMAS D W. T.. TMo' 12. Thn
! Danish government has granted permis
sion to the American-Hawaiian Company
to build a fuel oil depot here.
Sculptor Mohray Found Dead.
TORONTO, Ont., Nov. 12. Thomas W.
Mobray, the sculptor, was today found
dead In his bed of heart disease.
BUSINESS ITEMS.
If Baby In Cnttinff Teeth,
Be sure and use that old and well-tried remedy,
Mrs. Wlnslow's Soothlns Syrup, for chlldrea
teething. It soothes the child, softens the gums,
allays all pain, cures wind colic and diarrhoea.
V Y
111