1HE MOttNING HERALD: THURSDAY, APRIL 18 189.
DAILY A.MD WEEKLY
DAILY
Published every tiiorniuif eo;pt Moiidaj.l
vlKcruu vt MHiwiln'1
iy mail, r)'i.
WEEKLY.
a 00
(Publishe 1 every Friday Morning.)
e copy, per annum, ... u..
When not paid in advance
,!.00
i TUK MAILS.
Mails at the Alliany pnstoffice close
For all office north I
Tka E&atnrn state '
The Wert Side (
Ami the Nairow Gauire K. Ii. ;
iKor Portland and Salem - - , A
jComllin and Yaquina ....l:.:3i P.
I office south W"
' The postoffice will be closed ta. n evening
! rom lix to seven o'clock.
Registered matter lor thaj-ean.v moi-uuiy
train should be iniilRil beiore o clock th
previous eveninr.
. OUR BANKiSG BUSISESS.
Much is said pro and con about
our national banking svhtcni and
its workings. L'pon this and
kindred subjects the Economist
says: "The United States have
now witnessed for nearly a decade
an extensive system ol paj-er
money, all of which is redeemable
in coin and none of 'whVh ever
seeks redemption. The average
life oi the Bank of England note
i. e, the jeriod between tin time
when it issues and is returned for
final cancellation is said to be
onlv four davs. Yet we have a
j
considerable larger volume of notes
out which cannot be induced to
seek redemption. This is because
under the legal tender act the
greenback forms just as good a
medium to redeem them in as the
coin. IIence,we haveHhe anomal
ly of a vast credit currency always
redeemable and at par, but never
seeking to be redeemed. Hence,
w hen a bank has once put out its
currency it has contributed it to
the general aggregate or pool, from
which ii never returns. Hence,
the privilege of putting out currency
has no value to the banker in the
United States in the sense in which
it has in England, and will con
tinue to have none until the green
backs shall be retired and bank
notes shall be redeemable in coin
only. Hence, state banks, which
cannot issue notes, are gradually
taking the place of national banks,
which can issue notes, bu have no
motive to do so at present. For
the Kke reason there. was a notable
increase in the number of state
banks last year. In 1S87 only 225
state banks were organized, with
' an aggregate capital of 1 ,4(3(,0OO.
Last year the number of state banks
organized was 42D, with an aggie
tate capital Ot 5-S,.lJU,UUl. .n tne :
umer nana, -- uauuuui ijhuns ;
wer-j organize 1 in 1SS7, with an
.,.,.rto p.h.;ni i.f t-x.i sno nnr. !
i l . : l 1 1 . .,
, . . . . ,. i I
Last year oniy 122 national banks l
were orgMiiu.ru, aim iir-n uggicgaic ,
capital .vas only $1 1, -.'40,000. !
Within the
note issues
'isl eve:i veai'S bank!
have df creased more I
el". .I ll .1.1 I m iii.ritv f !
the 40;)i) hanks which have been
organized in this country within
the last ten y.- ar have been state
banks not privileged to issue notes.
The greatest increase in the num
.11 .:.!
Der OI uailKS ui i. Miiua xuiiii
the la-t tw; years has been in the
West. In 1887 and 18SS 18
i
national banks, with nearly $-0,-j
000,000 capital, and CoO state banks
with $14,500,000 capital, have been !
.. w fru I
established in the Wert. the
, !
South makes a gou snowing in .
the same Iieriod. It has organized ;
. ... !
S0 national banks, With 9,(IOO,000
n,l "1cfato hanL-u with'
capital, and. )1G State banks, Willi
$20,000,000 capital. These tigures:
. , ;., t.i
indicate a larjre expansion in tne
btl8:uess of the South since 188(5. :
, . i
ka .i rnta tvinfcm.r IllSf iriltlOllP.
jit- . iui.i .'"... " - f
. , .
rt)'li national an.i siaie, nave ucru ;
profitable in the Smith of late
vears
From the facts stated tlx same '
authority ronclmles that business ,
matters must he in a nourishing
condition, when from the simple
source of loaning depositors money
the banks remain in such a thriv-.
inc I'ondltion.
;t ; or r.iA tint statr hanks will
eventually uesire to issue notes,
on.i that tlir notes will be upon
inadequate security and liable to;
degenerate into the o'd wild cat
currency, and tnat me way io;
"iianl against this catastrophe is to j
provide for the redemption of bank
.mua hv th rctirinir of the green- i
back issues, and -the redemption WE Have
oi notes with coin. The arguments J 'pjie funniest cornmedians, the
of the Fconomist upon this part of brightest of boubretts. full Mando
the s-ibiect are certainly open to! line orchestra sixty solid silver
me raujriL, -c . . ! Swiss bells, the Spanish trouba-
criticisi... If tne greenback issue . xwA &wX ocarina iuartet,
has served to k-ep np the anomally j gnitar-f zithar, violin and banjo
of flourishing linancial situation, players, Schubert string quartet,
wit'iout coin redemption, it should i Music, burlesque, opera an.l
nit.ioiu io n ii. ' , coined v, ail in one great pro
mos: certainly be adhered to and , rani;t..
never be retired, for it can be tie-1 " kaY L. KOYCK is only equall-
ncnded ujion to maintain that i (1 by Sol Smith Kussell. New
ti ..r.r.nipnt th-it bank- i rleans Picayune,
pisition. The argun.ent l.ui imuk j uminimons in
crs 2nd no prolit m issuing cur-, pralse Crowds turned away
rency because it does not comt; t ig,tlv during the San Francisco
back for redemption is peculiar to j engagements. Secure seats early.
sav the least. The general supposi
tion is that bankers thrive upon
the rapid circulation of money, but
the assumption of the argument
presented is that at certain times
they will best thrive upon the
method of clogging the circulation,
in order to command a more usuri
ous grasp upon it we suppose. At
any rate it is difficult for an ordin
ary mortal to discover the difference
between the real currency pur
chasing medium of a gold dollar
and a dollar bank note or green
back, when both are at par and
likely to remain so.
We opine that the general con
clusion of the DeoDle wi'.l be to let
well enough alone and continue!
the greenback in the beneficent
mission it has already accomplished
and is still continuing to accoui-
I plish.
j Day bv day slips by and the
i aixious watchers for news from
the passengers on the lerman
steamer, Denmark, lost on the
Atlantic, are doomed to disappoint
ment. ItNeemsto be a growing
certainty that the ill rated .-teamer
must be enrolled in the list of those
who went down to the sea and
were never heard from again. The
anxious hearts grow sick and weary
with waiiin, but no word conies.
llHai"v ami Vnnlniillirttl,
Cannot go ham' in ii:iinl if we n
lie Iarli sMe ! i-vt-ry little .iI.mhoIc.
Nothiii- wil" m il.wkeu lite ::ei make
it a burden as Dytpepaia. Acker's
Dyspepsia Tablets will cure the
worst form of Dyxpepsia, Ciifctipa
tiou and Indigestion, and make lif a
happiness and pleasure. Sold .'t 25
and 50 cents by Foshay & Mason.
A tresn lot of California full
cream cheese just received at K.
L. Kenton's.
til CD.
MILLER At Ilalsey, on Tuesday, April lfi,
1889. Nicholas Miller.
Ins deceased was quite a:,'ed. He leaves a
wife and fmiily of children, all jrrown. The
funeral will be held to-day ami the reimini
intened at the I'ine cemetery.
.viz tv TO-J ft r.
SEALED BIDS-
SP.ALRB BIDS WILL BK KKCEIVKD BV THE BOARD
of Directors of the Albany Street Rail
way Compa.iT of Albany, Oregon, up to and
including the 22d dar of April, lSSi). for
the construction of a street railway iii said
city. Separate bids will be received on eat'b
proposition as follows: 1st, For all lunibei
used in the construction of naid rord. 2nd,
r'or all rails and for iron iiiatciiil used in
construction of the roal bed. All material
furnished to be delivered ou the line ot the
nronosuHl ruad as directed bv the surcrin-
I tendent of the of said comany. 3d, For
i ...;i..:n. r....i ,Mili.fm th.
rollini; stock. All mat- rial to be furnished
by the coniaiiy. 4th. For furnishing all
material, work and labor necessary to com
plete stid road.led reaCy for the rolling
ssock. All the material furiiixhe.1 and the
work dene to be accord hi" to the plans and
speciflcations now on file in the office nf the
secretary of said coinpny here they ean be
seen. Contractors will be required to 'ive
bonds for th faithful perlorniaiice of their
c hi tract. 'Ihe company tecerve the right to
rejec' anv or all bills. All bid should e ad
.I.m.mI to t.ni uh-rfLirv arAlltanv. Oregon.
! .l iii.pl-.il Ui.l for iIia iiitst rilif inn nt
tne Alton Mireei r.anway.
-v -
C. O. BUhKHART. Seiretarv.
IITTKI200 COKDS MAPLK TIMBER.
1 to be used for miuufictiiring chairs.
For iMrti. ularw itiuiiira of O. A. Archibi
tUt. i.-SLtMK- warehoune. Albany )r-
iaid at
on.
Urnin Hie for Snlt.
;oO! Sl'Hl'LV .if Flltsr CLASS
' ilralu tile fomaient the huge brick
and c'ne f&L-tor tast of Albany near Knox
p.-ute. fall at the factory or nildresH l'ropts
"!'. . i vregj.i
........ .v.. um,., ..... P- v7
O hu i-er or wellmlasf on short ihhil-c
' s'.oulii VJkU iiuoa VV. A. Mc-CUiu, CI arjfrs
i.
vtrv rcanoniilile.
lr
E. A. McALISTKR-HMKOI'ATIIlt: PIIY- j
hifimi and MiirfTPon removed bin.
,..." -i r-
i ..ii' ,M.ir..lla Klwt.- ill ialtii nrninfit.
iv u.U'i.ueuio. i
.mh.k a'TEi-AXY one
U" having a iroodone w.U HnJa purthii
bv ral.inz upon M. Member. Jj.None but
riVst das cow nted.
WIX"X & innSmifT dealers in
M choice cfcaw. iu wviis, Karo a Cos
ortlce. Fine imported ani Key West cijrars a j
illltv. !
: i
EMOval-johxsos 4 haxnals
IX have removed their blacksmith shop
iroui their oM quarters to ths corner oppo-
jre Aa Marshall's livery stable, where
t,,e bs found realy to do all kinds ot
....ru intlieir line cheaply aod promptly.
TXr.M AT THE OPERA HOUSE A JKT
ji allll woia pin ornam.nte(i with pearls
i he owner can obtain the same by calling at
Hrrald otticeaml paying charges.
...
Trea It. Marshall.
LEVELING OF ALL KIXOS. AL-1
' bany Oregon. Agent for the Wright j
Fann Level. Location ofdithe for tiling
mi.wwwa rij.lalttf Orin.ru iirt. at. thf
"""'- offiue '"eire Vromyt attention.
II r Iffl f
r
,WI
J Albany Opera House, One Night,
TUESDAY A1KIL oo
i ?
k TH SUCCESS. l TH
IIYKAI! brinip.
j jl srccESs.
!
EAR
i . . . . .
gjjjjjj Xr2JlSC01ltlIl9ilta.l T0Q?
OK THE FAVORITE
R0YCE
& LANSING
.MUSICAL COMEDY COMPANY 1
Vr uilvntirn ill nrii-t'S.
jgjflrSoats on sale at Trackman's.
Artisi' material at Mrs. IlyniHn's.
Vvr AIT fo
nni
BEST
ft q q q q
1889
1889
STRING
J1D
AND
SPECIALl IE S -
Ladies' Dress Goods and Trimmino s
Thekrerest stock and greatest variety in price and
.style I have, ever carried, and as good' value as ever
ottered to thf citizen? of Linn county j
Special Bargains
In cashmeres in colors and blacks. Seersuckers,
ginghams, ehambreys, French prints and wasli fab
rics. A?i the novelti:s of the season in black and
colors. I wi'l have something further to say about
these in a few days.
EMBROIDERIES, SKIRTINGS,
FJouneings, and all ovws on cambrics, Swiss and
India linen. I have just opened the laigest inroice
of norelties in this line ever exhibited in this ei'y,
and at greatly reduced pi ices.
PIQUES,
India lawns, nausooks in white. e-ru and colors,
all at prices veiy much cheaper than ever before of
lered in this city.
TABLE
In In-own find bltuthcd.
iNew York at less than importers price, and am able
! 0 cru nroO(l DarGainS. O-S incll all llliell OM'aCllrtl at
O O -
1 i x . ...... ... . . . . v , ,
0 cts per yard and others
TOWBLINGS
Crashes, etc. All these goods I buy direct from
importers by the bale,and can sell them much cheap
er than if bought of jobbers towels I buy in quan
tities in New York, and am oftenni' them at prices
that are -ure to sell the goods
LADIES COTTON HOSE
Are cheaper this year than ever before. 1 have
succeeded in getting some good bargains, all of which
I am offering to my customers the same in
Hisses
urn
The above is an outline of the policy I am going to da business on ,
and will endeavor to do my part towards securing the trade of Linn and
adjoining counties to Albanv. and to keep up with the procession of the
lively and growing city of Albany. I will have something to eay about
Carpets, Boots anf Shoes, Groceries,
And Other lines Soon.
SAMUEL
3 q Hi$ 1889
11IT
)
ill
LAWNS,
LINEN
This stock I bollL'ht iu
in proportion.
Children's.
E. YOUNG.
1CK
mm
loon
f
-L:ler the m miii'viMC or
Parke
- Wll KEEP j
i
A fuii Itue of rhii. l ituiiv nr xii- ami j
rovM:ia J
Catinea ririrfcpples,
Olioics Table Delicacies !
rtmuiriitt'l i-akti r.ir ;
Wcfftmms find i'avtifs. i
Kt'Kret ai'i salt 'Iri:
! kiuJs.
tmn miu mmu:
i?:vMv L:av. j
.TEAS and cot'lE
caxnk." ins. etc;
,ne bast soa ii: the market
Le Roi Savon.
A fine assortment of aomestic
and Imported Cigars
Tikl JuhnJKi'i iiMJstainl
new brick.
iuv !'! ii''
HOPKINS k SALTMARSII,
I' II!
I
ff
STOVES-
tare ii Mum,
'" JflAll work promptly h.ne at j
reasonable rates.
First SmiKT, f Bi.ck
LVIERCKrS"
Till!
1)
HAIR CU1TING and BATHS.
TfiP'Kvprvthin'i new and neat. A
clean towel for every u-t:i.cr. j
FIKST STKEET BELOW
ALBANY,
i:i:vi;kk iioifK
OKF.tiON
A lonjc Felt Want
In Albanvili:. ' cm ii'.Vtl !v t'.t.-
SECOND BAUD STOR'".
ThP :iJt v.';ir !.;' .i-wii ir !. t.c
necessity. 'The cb- .i-
place intlio city to Inj vnr
Stoves, FLraiture. tinware
We aie always prcpsir-u to iiuy yiut
iiousehold furniture at the iiili;-'
cash pr'.ce. Sole nen!' lor ihe
PEERLESS
And Lamp
FlLLKK,
i,. ;o n ; i i ii
m
Bros.
i
i
Pliiiii
& Pipe Fittin
MnTUM
O. W. SMITH,
ISULVKSSOI: TO W. 11. UTARLAKU
Has the Iai-geslStock of ST0YES In the TALLEST
SUPERIOR PSTOVES AWD RANGES. J
O
Z
2
S
0.
ARGAND
A'ro a lar 'o .t-.a
jipois Furniture
.THOS.. BRINK
Bcst Linc of ::e Io the Citv of Albanv!
Fane Wickc. Chairs Lounges Parlor
Comfce Poles Mirrors, Feather
Pillows Serine Mattresses,
Window Shades Walnut Exten
sion Tables Suits!
And v. ' you can't find at other houses, I hare it. In facteery-
tliinc tlia kept in a 6ret-class house.
i tsh. Mnpleanti Walnut Chamber sets, Chairs,
CAmNOT bf
ALRAN.Y
Tuliu Joseph
Manufactaucr of Choice Ciais
A.V: PKAi.KK IX :
m mmti and klv m
li 1 It'jr ii i f is 1 i : T 1 1
full liDe of Sn ol.i ib'
CALIFORNIA AND
NVxt'dour t B'.irklrart A. Kt-on.
A- NEW DEPRAT
Haviuir iatoly seard very largeand desirable
lirt'oi Lit eu. mu Ii s rJ n els, Napkins and
Dnui.iNk :)t fxrredinuh low' pi ices, we .hall
- h:sii ufi'i-r ihf ame;ar a
SPECIAL SALE
-FOK
X' ' .'1
1:
e:n:
bu1 1:
r .
(i n.
W'li !'
x
TEN
LOW PRICES
A r: Mi! ;iii ffginii
en dre- u'immIs Out stock
eVfi v if j .aMUU'iiT.
House!
undersold.
OREC;ON
.'. Jo'mI.ii- m4 Ii"m I'jii.ii
Ailit ks. Al.-o ik-iiler in
iFOPJfAL FKUI'lS.
-y' Ff' Estate Office. All.criy Ob
1
T11K-
DAYS
call and
vhow you
fhall dis-
,- I j
h.
"of
t II
.( s:l V-
'; (:'.;( )! and nr.broi-
- 'M - s ami siNsoua'-le wool
is mjw an! ciinplTe in
-
flNG STOVES
.lie,