t
Wxi gailg Sstorfau.
ASTORIA. OREGON:
THURSDAY.
..MAY 5. 1B87
MISTAKEN FINANCIAL NOTIONS.
Some of the eastern press are con
cerned about the idle capital that
is lying in the banks of New York
city. "The amouut of the capital
stock of the forty-five national
banks is 145,450,000, and that there
is due depositors 200,000,000," to
which it proposes to add the "many
millions lyingnn the vaults of
banks, principally savings," the
many more millions in the hands
of bankers and the millions held
by trusfand insurance companies.
It becomes evident from this, vit
thinks, that thero is a great deal of
capital that is unproductive. - "If
this large sum and the surplus
funds in oar other monetary in
stitutions throughout the country
could be put in circulation it would
give an -impetus to all kinds of
business."
What a wonderful amount of
nonsense can be hidden behind a
row of figures!- It is an absurdity
in the fiist place to speak of capi
tal stock -as idle capital. Probably
almost every dollar "of it is repre
sented by some form of paper, and
the coin it stands for is already in
circulation. The bumpkin may
suppose that the two hundred
millions due depositors is all idle
and on hand in stacks of dollars
and twenties; but no business man
has" any idea of the sort. No bank
keeps non-interest bearing coin on
hand iri'any large quantities when
the same state of solvency can be
maintained by keeping interest
bearing bonds and like securities.
There must be some mistake,
therefcjey about the "millions lying
in the vaults of "banks, principally
savings." Dividends would be
impossible were this the actual
condition of things. But it is not.
The government is about the
only institution which thinks it
can keep large sums of money on
hand without loss of interest. And
it can. There . may be a money
stringency caused by the govern
ment's hoarding, but that is an
evil of" another sort. The govern
ment loses the interest not on
what it has on hand, but on what
it owes .-and could pay. But a
private -bank is in a different po
sition, for it is not at once a debt
or and creditor to itself.
More think this fancied piling
up of money in New York is due
to the fact that "capital is timid,"
which is a popular fiction. There
can be no general timidity of cap
ital, for only a trifling part of what
we call capital is in money. In
order that capital may be invested
in one thing it has to bo taken out
of another. The man in the east
who wants to come west usually
has to sell out his farm or business
to some one whose money had per
haps been all along invested in a
"mortgage, or something of the
,sorrvhed by the savings bank in
which he kept his coin. It is fig-
' urative'language to speak of "the
capitalist hoarding his coin," and
-"unlocking his strongbox." No
capitalist with aq eye to his own
interest keeps any ready money
on hand that ho can get along
. without.
These mistaken notions would
not-be worth notice were it not
for the respectable standing of the
papers- that give them utterance.
Any one can see how little ground
there is for the prevalent belief in
the timidity of capital when it is
remembered thatwhile the popu
lation of Now York has only
doubled since 1854, the amount of
exchange a true index to busi
. ness is nearly five times as great
"now as then.
oldesthabItationsinajierica
- "-"Miaou Powell, chfef of the
geological -survey, who has been
about a month in the field, has
discovered in New Mexico, near
California mountain, what he pro
nounces to be the oldest human
habitation upon the American con
tinent. The mountains in this
vicinity are covered with huge
&cU of 1&V&) iu which the prehis-
tone man and his comrades exca
vated square rooms, which were
lined with a species of plaster
made from the lava, and in these
rooms were found various evi
dences of quite an advanced civ
ilization, among them a species of
cloth mado of woven hair and a
large number of pieces of
pottery. In the sides of the
rooms cupboards and shelves were
excavated. In one room, sticking
out of the bare faco of the wall,
was a small branch of a tree.
When this was pulled out, it was
found that there was a hollow
space behind the wall. Colonel J.
H. Stephenson, Major Powell's as
sistant, broke this with a pick and
found a little concealed niche, in
which was a small carved figure
resembling a man done up in a
closely woven fabric, which with
the touch of the hand turned to
dust. It was blackened and crisp,
like the mummy cloths of Egypt.
In all, some sixty groups of these
lava villages were found, there be
ing twenty houses in each group.
The tramps of Chicago have de
vised a new trick for obtaining a
living without work. The' watch
the papers for notices of the deaths
of men in good circumstances, and
then going to the widows, tell pit
eous stories of poverty and large
families, winding up by begging
for the deceased husband's cloth
ing. They generally obtain a
generous donation, which they
immediately take to the pawn
brokers and exchange for money.
- "' "
They are building a squirrel
cage for prisoners at Oswego.
The cell moves slowly round con
tinually. The rotary motion is to
prevent prisoners from breaking
through the walls. They don't re
main in one spot long enough for
a hole to be made.
The matter of deepening "Vic
toria, B. C, harbor is being agi
tated. It is thought $100,000 can
be secured from the Dominion to
begin work. The lengthening of
the dry dock 100 feet is also being
agitated.
- ....- M -
TnE Seattle Post-Intelligencer
hears from what it considers an
authoritative source that the prop
erties of the Oregon Transconti
nental Co. are included in the O.
R. & N. lease to the Oregon Short
Line.
According to Cangressman
Weaver, of Iowa, the labor party
will wait and see what course leg
islation will take in congress next
winter before it decides upon its
political action for 1888.
The New York JSwi wants to
know which of the great political
parties is going to be the first to
make a peaceful acquisition of
Canada a plank in its platform.
Michigan has stopped the em
ployment of "Pinkerton's men," by
making it unlawful to appoint a
non-resident of a county to police
duty within its limits.
i '-
The Texas legislature has passed
a law punishing illegal voting with
confinement in the penitentiary
for not less than two years.
Is Consumption Incurable?
Read the follewing: Mr. C. II. Morris,
Newark, Ark says: "Was down with
Abscess of Lungs, and friends and phy
sicians pronounced me an Incurable
Consumptive. Began taking Dr. King's
New Discovery for Consumption, am
now on my third bottle, and able to
oversee the work on my farm. It is the
finest medicine ever made."
Jesse Middiewart, Decatur, Ohio,
says: "Had it not beeu for Dr. King's
New Discovery for ConsuniDtien I
would have died of Lung Troubles. Was
given up by doctors
Am now in best
oi neaitn."
Try it. Sample bottles free
at W. E. Dement & Co.'s Drug Store.
ShHoh's Cough ana Consumption
Cure is sold by us on guarantee. It
cures consumption, SolclbyW.E. De
ment. Just Received.
r'sdock. per schoon
At Ciray's aocK, per scnooner yueen,
40 Tons Hay. For sale at Livme Prices.
lay. For sale at Living j
Eastern oysters -fresh every steamer at
Jeffs restaurant.
Try Fabre's celebrated pan roast
Yes Mann those Baby Carriages have
comeimd they are without saying too
muchj-the finestassortment every seen
here. Every .style, color and shape you
may wanttfrom six to fifty dollars.
Adler thinks he can boat Portland
styles and prices; and If you doubt it
go to the Crystal 1'alace and he will
convince you.
The finest and nicest steak to be had
in town at Fabre's
A Letter From C. T. Thomes.
Under the following date O. T.
Thomes writes Thb Astoriak a letter
from which the following is an ex
traot: Kodiak Iblikd, Alaska Tzbbitobt,
April 14, 1887. J
We arrived here at 3 p. m. on the
3rd, ten days from San Francisco, on
the steamer St. Paul, one of the Alas
ka Commercial company's steamers,
a 600-ton iron ship. We had a pretty
rough passage, strong nor'west winds
and heavy sea running nearly all the
time, which kept ua indoors or take
chances of a good ducking on deok;
but we got hero all O. K, at last, and
found the people very glad to Bee us
and get some news from the outer
world, as they have had no vessel
since last November. The weather is
delightful, but a little cold, and the
mountains, well covered with snow,
are right at our feet. Not much level
country around here. All up edge
wise, but plenty of it. The popula
tion of Kodiak is about 50012 white
men 2 white women, the rest natives.
The mercury this a. m. at 8 o'clock
Btood20 above. I shall leave here
about the 20th of this month in a
schooner for a trip along the coast
east and west from here, and shall
spend the summer looking over this
country.
An End to Bone Scraping.
Edward Shepherd, of Harrihburg, 111.,
says: "Having leceived so much bene
fit from Electric Bitters, 1 feel it my
duty to let suffering humanity know It.
Have had a running sore on my leg for
eight years; my doctors told mo I would
have to have the bone scraped or leg
amputated. I used, instead, three bot
tles of Electric Bitters and seven boxes
BucklenTs Arnica Saho, and my leg is
now sound and well."
Electric Bitters are sold at fifty cents
a bottle, and Bucklen's Arnica Salve at
2.1c. per box by W. E. Dement & Co.
NEW TODAY.
Good News! Good News!
THE INIMITABLE
Will appear once more before leaing this
north west country at Liberty Hall on "
PBJDAY, HAY 6th.
When the very Oldest Peak Sister will
leade the famllv.
After the Peak Sisters will be given
Tableaux, Songs, Choruses.
To Close with the
Mistletoe Bough
IN PANTOMIME.
Admission 50 eta,
Children 25 cts.
For Rowing or Sailing.
THE FINE BOAT PRIDE OF THE
Columbia can be engaged during the
season for boating or calling parties. Ap
ply to THOS. WARD.
MURRAY & CO.,
GKRO OBxtS
And Dealers In
Cannery Sillies!
Special Attention Given to Filling
Of Orders.
A FULL LINE CARRIED
And Supples furnished at Satis
factory Terms.
Purcliases delivered in any part of the city.
Office and "Warehouse
In Hume's Now Building on Water Street.
' P. 0. Box 153. Telephone No. 37.
ASTORIA, OREGON.
JOB PRINTING.
Neat, Quick And Cheap at The
ASTORIAN JOB OFFICE.
To Rent.
FIVE ACRE TRACT FOR A TERM OF
years. "Well located : Will be leased on
favorable terms. Apply to
MRS. WEIMAN,
Chicago House,
Hxi. Bosuaa Wation, 3Iri. Lillian Warren.
DRESSMAKING
PAELORS.
Corner Cass and Jefferson, uu ttalrs. are
now ready for orders from the ladles of
Astoria and vicinity. "We do only first class
work by a late system adopted In fashion
able circles everywhere.
All work guaranteed.
Comparison challenged.
Terms reasonable.
House to Rent.
SITUATED ON LOT 1, BLOCK 18. Mc
Clure'j Astoria Apply to
JOHN HAnN.
To Rent.
AFOPK EOOMED COTTAGE. WELL
located and eligible In every respect.
Apply to -FOAKD & STOKES.
The. Bracker
Recommends to the public and to the
trade his stock of Clears, Tobacco, Smoker's
Articles. Plajlng Cards, Cutlery, etc. at
Portland prices. Chenamus street.
Breed Fine Chickens.
Eggs from Pure 'Bred Sliver Spangled
Hamburgs. Rosecomb Brown Leghorns mid
Gold Beara rousn nens,
Ess $3.00 a Set.
Apply Jo
A. F. COLT1X,
Upper Astoria.
Peak Sisters
Books,
Stationery,
WE DO
WANT THE
Jlodcst Trices are Satisfactory, Small profits are Sufficient. Moderate Patronage Is
Acceptable. We reach your approval through Low Prlcos, Wo have now an Immense
stock of
Watches, Clocks, Jewelry and Silverware
Our stock Is Fresh. New and Stylish LOOK US OVER. If wo do not save yon
money we will make some one else sell you Low.
C&'B.lt A'DIi'SB., Manager
Musical
Instruments
Cutlery,
CRYSTAL
rii w n Ik is sl
WHOLESALE AND
Fine Groceries, Provisions and Mill Feed.
Crockery, Glass Plate,d "Ware.
o
Tbo Largest and finest assortment ot
Fresh. Fruits and Vegetables.
Received freah every Steamer.
Our Stock is Larger than
and direct from
FINE STATIONERY,
SCHOOL AND BLANKBOOKS,
MISCELLANEOUS BOOKS,
Baby Carriages, Bird Cages, Croquet Sets,
FISHING TACKLE, ETC.
Whiting's Standard Writing Papers.
The Domestic Sewing Machine.
Pacific Coast Charts and Tide Tables.
GRIFFIN & REED.
s
JEFF
JEFF
JEFF
JEFF
The Man who reads.
-JEFF'SI-
Ad ertisement aud doesn't go there to get a meal
D0NT KNOW ENOUGH TO GO IN WHEN IT RAINS.
i SPUD MEAL FDEIS1B.
Eastern and Shoalwater Oysters.
MEALS C00R1D TO QRDER.
A FIRST CLASS
LODCING
Tn Connection With
H. EKSTEOM.
WATCHMAKER.
Just received a large stock of Watches
and Clocks, Chains, Lockets, etc. Also
genuine Seth Thomas Boat Clocks, proved to
be the best. AH which will be sola at very
low prices. Watch and Clock repairing a
specialty, and done at reasonable prices.
Shop next to Aug. Danlelson's Sample
Boom, on the roadway.
Notions,
Bird Cages,
Baby
Carriages.
Picture Frames,
J
RETAIL DEALER IN
ever before
New Goods
Eastern Factories.
JEFF
JEFF
JEFF
JEFF
HOUSE:
The Restaurant.
DRESSMAKING.
3Ir. Bryre would respectfully Inform
the ladles of Astoria and surrounding
country, that she has lecently received a
large addition to her stock of dress buttons,
and trimmings, which she will sell at
reasonable price?.
DressmakinE m all Its branches done
promptly, and in first dasa style; and
satisfaction guaranteed.
Cutting and nttlag a specialty.
Next door to Abtobian office on Cass 8t,
AStorla, April 25th, 1837,
NOT
EARTH.
I liHr
. All
The
Empire
For the Next
"We will sell all of our Ladies1
25 per cent. Less than Former Prices.
We have Just Received a Larje Lot of the celebrated Browns
ville, Oregon, Woolen Goods in
Men's and Boys' Clothing,
Underwear, Flannels and Blankets.
Also, Direct from the East,
Gents', Youths', Boys', and Children's Fine Clothing and
Hats.
All of which we will sell at the Very Lowest Pi ices.
Our Stock of Staple and Fancy Diy Goods is one of the most
complete north of San Franoisco.
Our p.ist reputation justifies us in saying that
We Lead in Quality of Goods and Prices.
W. T. F-&HKEB., Manager.
BOOTS and SHOES.
Genuine English Porpoise Shoes For Oents.
Ladles Flexible Sole Shoes In
Boys and Youths Shoes of all Kinds. Misses and Childrons and fnfant hppl?. and -
Spring heels. WE WEAI. IN BOOTS
DRALRR IK
Hay, Oats, anil Straw, Lime,
Wood Dellrercd to Order.
TER apply to the Captain, or to
J. R. LEES0N & CO.,
BOSTON,
--SOLE AGENTS AND IMPORTERS.
Tie Jolnstone (Scotlaii) anft Grafton (Mass.)
Prize Linen Threads
AND
Salmon
SPOS. N
The only Linen Threads awarded a Prize Meda
London 1851 and New Orleans Worlds Exposition 1881.
Did not exhibit at Philadelphia 187G or Paris 1878.
First Prize Awarded Wherever Exhibited 1!
References for the Scotch Salmon Net TwineB:
EVERY CANNER or FISHERMAN who bought
it last season. IT GAVE UNIVERSAL SATIS
FACTION. Agents for the Pacific Ceast:
KITTLE & CO.,
202 Calif a St., San Franclaco, Oalaj
Store.
Days
and Children's
French. Knncnroo and Dnnpoln
Kid
ASI SHOES OKL.Y.
P. J. GOODMAN.
Brict, Ceient, Sani and Plaster
Cloaks i
Drajlcc, Teaming anil Express Business.
STEAMER
CLARA PARKER
Eben P, Parker,Master.
For TOWING, FREIGHT orCHAK
n. B. PARK KM.
pf