davidaulloa/AmericanStories huggingface dataset:
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04
TIE CURRENCY QUESTION

The following is a synopsis of the bill
prepared by the Committee on Banking
and Currency, and submitted to the House
Oh Thursday of last week:
The Ist section amends the 31st sec
ton of the law of June 8, 1864, so that
banks shall hereafter not be required to
keep on hands any amount OF money
whatever by reason of their respective
circulation, but the moneys required to
be KEEP. on hand at all times shall be de-
termiucd 10y the amount of the deposits.
The ii section repeats the "a proviso
of section DIST Of the law of July IL, 1870,
for the redemption of the per cent. tenn
porary loan 50 far as it restricts the amount
of notes for circulation.
The Sd section provides that the national
banks shall at all times keep OH deposit in
the United States Treasury, in lawful
money of the United States, a sum equal
to per cent. of their circulation, to be
held and used only for the redemption of
such circulation.
The 18th section authorizes the uatiOua
banks to withdraw portions Of their circu-
lating notes in sums of not less than $40,
600, and to withdraw proportionate
amount of bonds deposited in pledge for
such circulation,
The 9Th section amends sections 3lst and
ed of the national banking law by re-
quiring all banks to keep their lawful
money reserves in their own vaults at their
places of business.
The 9Th section requires the chartered
numbers of the various banks to be printed
on their notes whenever the same shall
come into the Treasury for redemption OF
otherwise.
The 9Th section authorizes banks to be
| organized without circulation on deposit.
ing in the Treasury not less than Sl0,OOt
| in United States registered bonds, and
authorizes banks already organized with.
out circulation to withdraw their bonds in
| excess of $4,000.
| The Stn section directs the Secretary o.
| the Treasury to issue at the beginning q
each month from and including July, 1874
| S-,DO,OOO Of United State notes not bear
| ing interest, payable in gold two year.
after date, in denominations of not les
| than SO, in exchange for and as a substi
| tute for the same amount Of uitcd State
| notes now in circulation. which shall b,
| cancelled and destroyed and not reissucd
| and any excess of gold in the Treasury
| shall be retained az a reserve for The %
| demption of such notes.
| The bill was read and ,rterlei u 10,
Committee Of the Whole. IT viii prcts
| bly, be acted upon next week Thor
sesms 10 b. such q diversity Of opinion
ia Congress on this question that 40 bill
will DO passed which Rccosus entireI.
with the views OF any considerable NUN
Der OF Representatives or 6enstors. Thi
bill is an effort towards q compromise.
The extreme inhstionists and these WIN
favor immediate resumption Of sp~cL
payments are 20 wide apart that they ST.
not likely TO agree, and THE measure
| intended % meet. n sone r,sp~cis, IN
! wishee o. both
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04
RenI E.tate Transfers.

The following are the real estate tran
fers for the week ending Jan. 3lst:
A. II. and +. N. Hodge TO Mary
and Mary H. Thompson, lot in
Knoxville, 5 1899
A. II. and +. n. Hodge to $. S.
Thompson, lot in Knoxville, 7jt
Jas. II. T. Payne to l.. d. Johnson,
lot in Knoxville, 1907
JAS s. Boyd to X. NJ. Howell, lot
in Knoxville, 615O
Martin Burdcll, ct uX, to V. II,
Cantrell, lot in Knoxville, 1880
j. Nj, Narnell, ct uX, to harah Elem
ing, tract of land, 5000
VIM. Hand to &c. Locke, lot in
Knoxville, 10000
NJ. l.. Patterson, c. * NJ. 10 Cowan,
McClung d Co., lot in Knox
Vile, 800
Jas. A. Houser 10 u. &, Lusby,
lot IN Knoxville, SECO
v. T.. Gossett to II. L. CHR, lot
in Knoxville, -
Jas. G Anderson 10 katharine
Jenkins, lot in Knoxville, % %
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04
THE RABUN GAP ROAD.

The Atlanta Herald, of the eth, inst,
contains all editorial which is sensible and
well timed. An effort is being made, we
learn, before the Georgia Legislature, to
get state aid for the completion of rail-
road now being constructed, and to which
we alluded some time since, from Athens
to Rabun Gap, with view of finally con-
Meeting with the East Tennessee, Virginia
and Georgia Railroad, at this place. Geor-
gia, like Tennessee, has been swindlcd on
a magnificent scale since the war, by loan
ing her credit to railroads under the man
agement of men whose sole aim was to get
rich, and who cared nothing about benc-
fitting the State. With the experience of
the past, we don't blame Georgans nor
Tennesseeans for not favoring aid to every
wildcat railroad which any fool or knave
sees cause to put down on paper. The
Herald speaks of this matter and then
warns the Legislature against confound-
ing those without merit with those who
are really meritorious. 1t says:
These should not be crippled by a suicid-
al Withdrawal of that aid which was wise
ly granted in the first case. There are
other roads which, under the aid-bills al
ready passed, have been started and push
ed to a considerable extent Thousands Of
dollars of private capital have been eX-
pended upon the basis of State aid being
pledged to complete what their money
would hardly commence.
Such q one, notably, and which comes to
our mind on the instant, Is the Northern
Railroad, which runs from Athens, taps
the Air Line near GAINESVILLE, and antici-
pates thence a close connection with Knox
vile. This road is of prime Importance,
and will develop stretch of rich country,
the "come-out" of which will astouish the
State. The city of Athens, and private
stock holders in and around that flourish
ing city, have spent dollar after dollar III
the plucky hope that the promised State
aid would at last carry the work on TO
completion, that they had so nobly COM
menced and prosecuted
We trust that the Legislature will think
carefully before, in their efforts to win the
plaudits,n they crush out enterprise that
the State shoGld, and is in honor bound to,
cherish and protect.
The completion OF this Rabuu Gap
route is certainly an enterprise in which a
large portion OF the State of Georgia is
deeply interested, and if 10y aiding the
"plucky' city of Athens and the private
stockholders in a company having for its
object the completion Of that line, they
can secure its construction TO Rahun Cap
1t will be money well expended.
If this road is completed to Rabun Gap,
certainly there is enterprise enough in
East Tennessee to secure connection
with Knoxville. If there is not, Cincin-
natl, with her Southern road completed to
Chitwood' s cannot afford to miss so vaiua-
Gan.
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04
TAXABLE PROPERTY.
How Is7a Compares with the Year =


We were shown yesterday by the Day
County Court Clerk, a completed list &c
aggregate amount of taxable propen
Knox county for 1873. It shows thate
taxable property of Knox county folc
year of 1878, amounts to $9,506, S34, aet
the yearot 1872, of 50, l21 $3.50, which 81
an increase in the value of the tale
property of the count y for the years,
over the year 1872, of 81 1856, l45.
The taxable property of the first diet
for 1873 amounts to S4, ,57S, or MY
half of the entire amount of taxable p
erty in the county, and taking intop'
sideration the city property lying ithc
twelfth and other surrounding distts
the taxable property of the city amut
to over one-half of the entire amour c
taxable property of the county. The pl
of 1873 amount to 4,177. The books h
been turned over to Capt. Harris, the y
collector, and we presume he, as well
the creditors of the State and coun
would be pleased to have the taxes of Y
paid up promptly.
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

THE Union and american persists in adj
vocatng State banks rs preferable to our
present currency system. AS we said in
previous article, we DO not believe that any
considerable number of thinking men wish
such a change. The people have more
confidence in a National system than in a
State system, especially with the security
that would likely be afforded to note-hold-
ers in most of the Southern States. Who
believes, for instance, that Tennessee is in
a condition'to go in to banking in the sense
intended by the Union and american?
That paper replies to our objection to a
State currency, to wit: the unequal value
of such issues in different parts of the
country, and says that is rather to be de-
sired than otherwise, as, with such curren-
cy, there is less likelihood of its drifting to
the money centres and leaving the rural
districts with au insufllciency: We admit
that there is some force in this argument
but insist that this objection may be over
come by proper legislation.
Our Nashville cotemporary adds
"Another objection of the Knoxville
CHRINICLE to State Banks is couched in
me assertion that-'If we had such cur
rtuct curing the recent panic, the loss
would have been great and the inconven-
itn'r conceivable This Is mere as
mp o.. The late panic had an origin
I,0.C'~ crash Of railroad securities-but
the paLIr itself was nothing but the lock-
ing up aud boarding of the currency. If
our contemporary thinks State currency
would have been clutched more closely
than greenbacks were, we will agree that
the late panic would have been more seri-
Gus. Otherwise, otherwise"
There is no assumption on our part, not
justified by a knowledge of past events.
The Union and american seems, however,
to misapprehend our meaning. When the
recent panic come upon us, those who had
money knew that it possessed a value. A
national bank may suspend, and still its
issues are good. Ifithe currency system at
the commencement of the panic had been
similar to that which we had
up to and after the commence
ment of the late war, when banks
suspended their issues would have been
worthless. Distrust and confusion would
have prevailed and instead of the country
recovering in half year, we would have
lelt us effects lOr years. we prefer the ma
tional to State system, because the nation
is able to inspire confidence to a greater
extent than State, especially one of our
Southern States.
We admit that the present system is
not without its defects, but these defects
may be remedied. BY reference to para
graph elsewhere in this issue of the CHRoN-
ICLE, it will be seen that the House Com
mittee on Banking and Currency has pre-
pared bill establishing free banking
system. In the absence of thelbill we can
not say whether it meets our approval or
not, but it seems to us that something in
this direction will meet the objections OF
the Union and american without incur
ring the objections to State system.
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

The following marriage licenses were
Issued from the County Court CLERKS Of
fec for the week ending Saturday Jan.
uary 3Ist IST4i
Wm. A. Denton aud Mary L.. Stephen.
son.
X. \. Lonas and Mary &. GaGdIn.
J. 4. LeftwIch and Lenora McNutt.
Thomas IL. Doweli and Mary x Con
neY.
james ViIes and Mary Lee
Nicholas Joiner and Mary c. Bird
samuel Hampton and Adeline Csujg,
A. BAIRD and Betty II. Ramsey.
Robert IiUttVell and Eliya HO,lk
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

IT seems to he generally admitted now
that Livingstone the greatAfrican explorer
is dead. 1t is stated that be died last June.
It is very probable hc may have died soon.
or. some intelligent persons believe he
has been dead for years. a large number
Of people discredit the sta.ements OF Stan
ley, The Hena1d man, who prcfes7es TO have
seen MIN. We have Away DOUBTED that
story.
We regret uhE DR.. Liyingstons could
not have returned to his native Land Sud
given tho rosult Of bis yesesscbes ia the
wild unfre4uentsd regions, in the eKpioy-
ton OF which be has ket his Life. He
name will live and b rsve.ed IN literary
and scientific cirois, Wiki -cIe1c aud
literature II YosNuc4ed,
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

\ press dispatch from Cincinnati Mon
day evening says:
The Trustees of the Southern railroad to-
day commenced opening bids for grading,
tunneling and bridging on the Southern
railway from South Danville to near Chit
woods, on the State line, a distance of
eighty-fiYe miles. There were over three
hundred bidders. The results can not be
announced for two weeks.
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

THE Union and american is out in
nearly column editorial, urging the
Democracy to organize for the coming
summer campaign. In the editorial we
find the following:
We look for effective action in this mat
ter from the farmers, who have learned in
the Grange the value and necessity of or
ganization.
Now we can't answer for the farmers in
Middle and West Tennessee, but in our
opinion there are not one hundred farmers
in East Tennessee who would hazard their
good name by openingly training under a
banner borne by tho Union and An,crtcun
and it, corrupt drill sergeants."
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

THE Appcal has settled the question.
The Governor must come from West Ten
nessee. 1t says:
West Tennessee has many able, unob-
jectionable citizens with all these qualifi-
cations, and she is determined to demand
that respect and courtesy which is so pune
tiliously observed in other States.
Well, Mr.. Appeal, if you are deter
mined, just name your man.
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

THE Union and american is alarmed at
the number of candidates for county
says:
as it desirable that the people should
fritter away their rights as a majority and
give the Radicals the balance of power?''
No; that would be fearful, Mr.. Burch.
Hadn't you better issue circular?
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04
\ Washington correspondent of the

y Washington correspondent Of the
Louisville Commercial says:
The effort being made in Congress by
some members to have passed an act cut
ting down the clerical force of the Pension
Bureau is really absurd, when it is public
ly known that the work of that Office ac-
tually requires an increase of force to en-
reduced, thousands Of persons who are lily
able to do so, will be compelled to wait
long months for the pensions they were
entitled 10 years ago.
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

WE have been asked if the Comptroller
pays all the Democratic papers in the
state for inserting his frequent and vol
luminous circulars, out of the State Treas
ury. We cannot tell Mr.. J. Circular
Burch cOuld
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04
\ Washington special to the Baltimore

Sun dated the Goth, says:
The banking and currency committee
to-day determined ON a bill TO authorize
free banking, the circulation to be secured
by ninety per cent. of bonds and reserves,
TO be abolished for circulation but not for
deposits. The prohibition of payment OF
interest on deposits and the circulation to
be redeemed at the treasury, where five
per cent. reserve is to be deposited to meet
If
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

On Monday the bids for the construc-
ton of the Cincinnati Southern road from
South Danville, Kentucky, to the Tonnes
see line, distance of eighty miles, were
opened Over one hundred bids were sub
mitted.
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

AGAIN we caution correspondents to
write only on one side of the paper. We
can not give manuscript written on both
sides such revision as is required before
going to the compositors. Our correspond
ents must conform to therule and 1Oritc on
IN on one side.
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

\ VIRGINIA clergyman who spent tif-
teen months in Fort Delaware during the
late war, has written up the story of his
confinement which he entities Omitted
States Bonds.p
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

Tie Cleveland BGnhe~ say Jack
BROOKS wss senteueed by thu present term
Of the James county Cirruit Court TO ten
years imprisonment il the penitentisry
70, roobiBg e store at Birhvood some
time ago.
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04
TERMS OF SUBSCRIPTION.
'riends of the Siamese twins want

TIE friends OF the Siamese tWlns WaHI
to make some money out of their remains.
The sum of ten thousand dollars is asked
for the privilege of making a post morton
examination.
Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1874-02-04

III, SION A-OLI hU,, LIlI.--MT. Lou
II Ruttkay, who say hc il "a cousin Of Lou
is kossuth, writes 10 the Chicago Iri5uRG, ,
from Des Moiues, Iowa. correcting the
statements published by a Frankfort paper
re4lN citing bis Pree-nt condition and sur
rounding lie says h lie ia frequent COM
municatiou with Kossuth, aud states that
hossuth dos cot advcrtis for or give les
srne in languages, FOR the very ie-t reason
IN the woEid-taeYe Il 40 need h .hould,
and he dos not feel inclined. he j. very
far removed lrcm Indulgence from having
enough 81 be own 20 I've upon not only
suugly, bat comfortably ana pleasantly
not u mention bic two -ons, who, INSTEAD
Of being dead, Hre IN good health. and with
him, 10th growD 70 nanhOod, and both
civil engiueess.
The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1874-07-04

The rattle of the mower has ceased, and
an abundant crop of hay has been nicely
cured and housed, and ere the close of the
present week the steady motion of the
reaper will have leveled to the earth the
heavy crops of wheat of our farmers.
The dreaded potato bug has made its
appearance in our midst, and fears are
entertained for the safety of the potato
crop. Numerous plans and ways have
been devised and applied for their destruc-
ton, and among them the Paris green,
SCOT, &c. One of our professional gar
deners in the Neck went fishing for them,
setting out mosquito nets around the patch
and brushed them into it. He however
failed to report success.
The strawberry crop has been quite
largo. Mr. John Grant, on the Heisler
about five thousand quarts of this delicious
fruit and realized good prices for them.
Rev. J. Cook on Sabbath afternoon last
read the Pastoral address, as ordered at
last session of Conference, accompanying
it with a few appropriate remarks.
We think it rather an imposition on our
citizens and persons arriving at this place
by P, w. & B. Railroad IN being put out
of the cars in the awkward, and indeed
dangerous way in which it is frequently
done.
The platform on the north side of the
track for the receiving of south bound
passengers is very little longer than the
length of one passenger car; consequently
persons who may be ca the train for this
place, and not in the car directly opposite
the platform are frequently compelled to
get out the best way they can in dirty,
muddy ditch, from three to four feet below
the car steps, and sometimes hundred
yards or mere below the station and have
to pick their steps cautiously across an
open COW hole, which is rather dangerous,
especially on dark night.
If the fence enclosing the NJ. E. Church /
were to receive coat of whitewash it
would not only add to its appearance and
preservation, but would also give evidence
that some person had it in charge who had
some taste. Mr.. J. B. Graham has work
men engaged in building wharf for the
"Seneca" Point Club, on their farm near
this place. This farm is looking up under
it's present owners. Also the " Helena"
farm which has been sadly neglected for
several years back, until it was purchased
by Mr.. J. Hughes about three years ago,
since which time he has built splendid
large barn with other out buildings, and
fences; also giving wholesome application
of manures. The present year it is under
management of Mr.. Isaac Watson-a model
farmer-and will yield as large crop &C.
cordingly as any farm in this vicinity.
L. w. J.
The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1874-07-04
THE FULTON HOUSE.

The Fulton House in Fulton Township,
Lancaster county, Pa, was recently the
scene of a festive occasion, participated in
mainly and got up by the citizens of the
neighborhood. On this spot Robert Full
ton, who did SO much to inaugurate steam
navigation, was born in 1865. To this
point the Peach Bottom Narrow Gauge
Railroad has been completed and turn
table and station house has been built.
To properly punctuate this enterprise was
the above ceremony. Four county roads
converge at this point, which is the centre
of rich agricultural neighborhood, thickly
populated by thrifty intelligent farmers,
whose hospitality cannot be questioned.
Not far distant from this place is the
farm of Mr.. John Russell, which is a model
of neatness, fertility, and management, the
like of which we have seldom if ever seen
equaled, and the host is in every way
worthy of the farmer. But aside from
this DEPRESSION; in speaking of the Fulton
House, the Oxford Press gives the following
sketch of this noted place:
Fulton House proper, is the name of the
residence of John w. Swift, who owns a
fine farm, part of the tract of land owned
prior to 1772 by Robert Fulton, father of
Robert Fulton, the inventor. The present
building was erected by Joseph Swift,
father of the present owner, in 1922, on
the site of the original Fulton house. A
stone corner of the old house was left stand,
which was incorporated in the present
building. The property passed from the
ownership of Robert Fulton when his after
wards distinguished son was seven years of
age. 1t was sold by the sheriff, about 400
acres, for e505, and was purchased by the
grandfather of the present owner who re-
sided in Philadelphia. The whole tract
has been in the Swift family ever since.
1t was divided into three farms, all of which
are now in excellent condition and very
productive. The now venerable owner of
Fulton House delights in entertaining visi
tors on his pleasant porch under the spread
ing branches of a noble sycamore tree.
Just across the way is a storehouse where
the merchant business has been curried on
for many years by the Swift family.
The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1874-07-04
North East Items.

Observation-Disclosures Suspendcd-Fish-
Remoral-Pu6lic Sale-Land Sale-Rain.
The excursion on Monday night last, per
steamer C. p. Smith, proved a success and
delighted the excursionists muchly hear
The night and music was fine. and the
company agreeable. The steamer left the
wharf at o'clock P. NJ, for Reybold's
wharf, on Elk river, where they danced
largely by moon light and returned by 4
P. NJ. Another is in contemplation for the
4th.
Miss Mary Curtis, daughter of Rev. ].
D. Gusts, graduated last week at the Wes-
leyan Female College, Wilmington, Del,
with honors.
Davis, Pugh & Co.'S steam saw mill has
suspended for few weeks, during the hot
weather.
Algard and Murphy are catching some
fine rock fish in the North East river; they
ship principally to Philadelphia and COM
mand a good price.
Rev. J. Cook, we hear, will remove from
the Charlestown Circuit on the LIST of
August next; cause and destination un-
known.
The public school closed ON Tuesday last
until LIST of September next. The children
show considerable advancement under our
present efficient corps of teachers.
Chas. S. Perkins has sold to Budd S.
Ford the residue of his farm at the south
end of the village, known as the Thomas
property, some 90 acres (no buildings,) for
$4,000 dollars. Some time ago he sold the
buildings and about 6 acres for $1,000;
making 80 acres improved for $4,000 dol
lars. No land panic apparently about
North East.
The long looked for shower fell on
Thursday night last, which will do i'm
mense benefit. Have had none for some
three weeks.