The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1873-10-04

recognize or encourage any member
of the order as politician; that the
membership at the present time num-
bers more than half million, one
third of whom are women; and their
only object in the order is to aid and
encourage their fellow beings in doing
right, with the sole view Of making
them better and happier.
The Republic, monthly magazine
published here, fills niche long since
needed in the political world. In fact,
it is the only political magazine in the
country. Every article in it is care
fully prepared and worthy of the
closest consideration of every thought
full mind. The October number is
nearly all in type, and will contain
most valuable matter.
1t is evident, from all reports re-
ceived here, that no reduction of the
railroad freights that can be obtained
will bring the cost of transportation
within the margin of profit to the ag-
riculturists Of the West. The late
financial panic was preceded by a rise
in the railroad rates, and these COM
bined have arrested the crop move
ment that was proceeding SO promis-
ingly.
1t is understood that strong effort
will be made to push through Con-
gress at its coming session free bank
ing law. A number of the House
Committee on Banking and Currency,
it is said, will further this project.
What this idea of free banking
amounts to is matter yet to be de-
fined. If it involves the enlargement
of our currency SO as to produce inHa
ton, or if it proposes to dispense with
those admirable safeguards which the
banking law has thrown around the
financial system, it will inevitably
meet with failure and disgrace.
From the Hon. Samuel R. Ruggles
we are, in brief, informed in a table
illustrating the cereal productions of
the world, that the total product of
Europe amounts to 4, 754, 516, 604 BUSH
els. or about sixteen bushels per head
of the population. The United States
produces 1,4O5, 1896 $50 bushels, or
thirty-six bushels per head. Russia,
the largest European cereal producer,
averages only 214 bushels per head.
In 1871 we produced 100000
bushels, or nearly forty million tons.
Of this we export but three million
tons, showing that after all our for
eign trade bears but small proper
ton to our domestic trade.
| While the present financial panic is
materially affecting business interest
here as we'll as elsewhere, Ito what ex-
! tent it is difficult to determine,) the
people generally believe that in the
end it will work good. tits an axiom
that no bank pretends to have in its
vaults sufficient currency ON hand to
pay off all its depositors. A healthy
bank, in ordinary circumstances, can
with the assistance of other banks
stand run; but in these times, wheI
every bank in the country is liable t.
be run upon, securities, however good
can not be SOLD, and consequently it il
safe to estimate that there are not ter
banks in the country that can stand ;
run of many days. The banks her,
have done admirably we'll. With tn,
exception of Jay Cooke & Co., tn
First National, and FAINT, Washington
Il Co.'S, and Washington Saving
Banks, none have suspended pay
ment. There are fifteen banks; among
, the number six are savings banks
, which pay from five to eight per cent
interest on deposits, the deposit
f usually allowed to be drawn at will
At this time the sixty days rul
granted them by their charters is in
sisted on.
, There are great many clerks in tn
, several Government departments VIII
, have been depositors in the banks Q
{ the First National and Jay Cooke
e Co., in Washington. It is interestin
to know that they were semi officiall
, assured that they need be of no feal
8 that there was sufficient money Oh
D hand to settle with every depositor.
+ B6-
!, The Milwaukee Wisconsin says ,
the Democratic coalition ticket {
e Wisconsin:
The whole object of the Democrat
i is to get control of the State govern
ment; hence they have thrown a SO
: in every direction where there VIZ
o the least hope of gaining any votin
r strength. They have made bid fl
It the support of the grangers by nom
e mating one of their prominent men fl
;. Governor; they have fattered II
+ Liberal Republicans by nominatir
IT their leading man for Attorney Gel