Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-08-05

During this period he was conspicuous ano
active in advocating the annexation of Texas
the tariff of 1846, and the war measures Of
Mr.. Folks administration. In 1858 he was
elected Governor of Tennessee, and reelected
! in 1855, after severe contest. At the exp
ration of his second term of Office as Govern
or, in 1857, he was elected United States Sen
ator for full term, ending March 3, 1863
On the reelection of Mr. Lincoln to the Pres
idency in 1864, Mr.. johnson was chosen Vice
President, and, upon the assassination of the
former became the Chief Magistrate of the
American people.
At the expiration Of his presidential term,
he returned to his home in Greeenville, Tenn,
but the active life to which he had ever been
accustomed would not admit Of his seeking
that retirement generally longed for by those
who have reached the goal of public honors.
In 1872 he made an unsuccessful canvass for
the election of Congressman at large from
Tennessee, but which defeat only nerved him
to further efforts, and last winter the Legisla-
ture of his State elected him United States
Senator. In the extra session of the Senate,
at the close of the last Congress he appear
ed and took his seat, participating to some ex-
tent in the discussion of questions before that
body.
In his varied political career, he no doubt
committed many errors, and particularly while
serving the uncxpired presidential term OF
Mr. Lincoln, his policy toward the South and
his attitude to the party which placed him in
power, were deemed by many as detrimental
to the interests he wished to subserve, yet hon.
esty of purpose was never denied him, and he
has ever borne the reputation in these
days-of an incorruptible statesman.
NORTH CAROLINA CONVENTION.
The election for delegates to the Constitu
tional Convention, provided by enactment of
the last Legislature, takes place to-day. The
question is, with the slightest exceptions, one
of party. The present constitution was framed
by a convention composed almost exclusively
of Repubicans-white and black natives and
petbaggers-and, according to our recol-
lection, contained but IL Democrats or an.
ti.Republicans, who, of course, were power.
less. The Constitution and the Code of Pro-
cedure under it, are modelled after those Of
the State of New York, and while many rad.
ical changes from the old time ways, distaste-
full to the people, are introduced, it is also
claimed that many features of the present
constitution are not adapted to the wants and
conditions of the people. Mainly, instead OF
the ignorant and incompetent trial justices
who have Jurisdiction all over the State, the
people desire to return to the courts of pleas
and quarter sessions, which gave universal
satisfaction from the foundation of the State
government. The township system is also OBJ
jected to. These, among many other objec-
tions, give the people plausible grounds for
desiring change. The canvass has been
conducted with an unusual degree of excite
ment, both parties having put forth their ut
most strength in the contest At the last
election, the Democrats carried the day by q
majority of about 5000, and it is highly prob
able that they will elect a majority of dele
gates who favor the proposed amendments.
RECENT HEAVY FAILURES.
During the past week financial circles have
been excited over the announcement OF a
number of heavy failures, most prominent
among them being that of the banking house
of Duncan, Sherman & Co.. Of New York,
whose liabilities are between five and six mil.
lions of dollars The failures subsequently
announced we're not precipitated by the fail
ure of Duncan, Sherman & Co., nor is it
probable that many business houses will be Sc.
riously involved thereby, though slight de-
preston has been felt throughout the country.
The heaviest losers, perhaps, are the Trenton
Banking Company, of Trenton, N. j., who
will lose 100000 and Campbell & Cassels,
bankers, of Toronto, have suspended until
they can hear the fate Of Duncan, Sherman q
Co.'S. foreign bills. The Indebtedness of the
firm is about equally divided between this
country and Europe, good proportion of the
foreign liabilities being bills of credit in the
hands of Americans travelling in Europe.
The disaster is generally attributed to two
causes-6rst, the large amount of unavaila.
BILE assets left on their hands by the failure Of
Jay Cookein 1878, from which nothing could
be availed and secondly, to heavy operations
in the purchase of cotton which proved un-
profitable The house has made an assign
ment for the benefit of its creditors, among
whom are many private individuals who had
their funds on deposit.
OF other failures reported are the following {:
John Mason d Co., sugar importers Of Phila-
dephia, liabilities s2OOOOO NJ. Y. Bum &
Co., grocers, of New York, failed for s55, 900,
though they claim to have assets amounting
to 100000. j. B. Ford q Co., publishers, of
New York. The liabilities and assets of this
house are not given. Their business is man-
ly confined to the publication of Henry Ward
Beechers works, for which, it would seem,
there is no great demand at present. The
Commercial Warehouse Company, of New
York, liabilities 81 100000, caused by heavy
advances on Cuban crops, which early rains
destroyed. The Ames & Bardwell Manufac-
turing Company, manufacturers of pocket
books, &C., at Northampton, Massachusetts,,
liabilities between $4,000 and 100000.
Schmale & Treweilter, brewers, at Marion, n.
j., liabilities $4,000. c. G. Fellen and H.
S. Bogert, brokers, of New York, suspended
m Saturday. in consequence of recent trans