The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1881-03-04
MONEY PkNIC.
TN SltS elaesls Nearly Eqnais
RSsacix Friday.

] OAErA- 49,
retiring their circulation. until the de.
posts for that purpose aggregated into
the millions, aud kept going up. All
the money markets were thus being
drained OF bank notes and banks call
ing in their loans, and refusing to make
further loans to any parties or for any
purpose, OF on any security, produced
wide spread consternatios in all bust
ness circles. At this juncture Mi
Sherman, the Secretary Of the Treas
ury, ordered the immediate purchase
by the Government of ten million dol
lars United States bond, not yet due,
paying the geld foseRae' aud thus
placing that ,Aseh as Z money 10 she
market to make up tue deficit caused
By the basss retiring their notes. This
helped business circles.
AS soon as it became known that
the Secretary was willing to take IN
called 5 and per cent bonds of 81
at par aud accrued interest to date,
some Of the holders began 10 turn them
10. and many brokers secured the street
and bought what bonds they could get
Immediately at something above the
Srcretary's price The loss which ,hey
apparently suffered by this trausuctiou
represented the bonus paid for money.
which in most eases was less than the
commission. iD addition To the legal
interest charged in open market; but
they served two purposes. First, they
got what money they wanted, aud
second, they turned loose from the
Treasury money which heretofore was
practically locked up Notwi,hs'aud
ing this apparent relief, money worked
closer again from ! per cent 70 / per
cent per diem. The effect of this con
diti0u of the money market was fer
outside of Wall street. Foreign ez
changes we're completely demoralized
Important movements 10 produce, e.
pecialiy for export were brought 90 a
stand still Mercantile business was
unfavorab'y affected and. In fact al!
legitimate interests OF the country were
being Injured by the action of few
narionul banks and the iaethciency of
Secretary sherman The Disbursements
OF the Treasury for bonds purchased
l,st week were not sufficient in amount
10 relieve the money s;ringeucy, and
not a few brokers, 10 the last hour
paid as high a l per cent. per day Tor
money 10 addition TO the g per cent
per annum.
1t will be no fault Of the press of Ken
tucSN>if the people are not aroused 90 the
absolute necessity of a more rigid en-
forcsmentQf the law CorHgion Common
trealth
To insure u.sfe Tisfd -aal ;-.4ni
gent enforcement Of the laws. let the
statutes require a more rigid and intel
h.gent qualification for jurors \ large
part of the mob -piriti IN Kentucky is
caused by the decisions of ignorant
juries. To these days the most iutelli
gent portion of every community read
newspapers, more or less, and if a great
crime is committed, murder, or any
startling ac, of violence, they read Of
it in the papers, and thus are often
times made to form AID express an
opinion" When such case comes
IN for trial these readers of newspapers
are objected to, and most generally
held as Incompetent to serve as jurors
This forces the summons to that class
of citizens who have read nothing per
tanning to the trial-Who dou't read
who can't read Before such illitera,e
juries nine tenths Of the cases for start
ling crimes are tried Before such
jures, lawyers raise absiruse distinc
lions of law, hair breadth theories as
TO the causes and evidences of insanity,
&c. and the learned court delivers
learned Instructions, which the jury no
mors understand than they DO the
properties of electricity. and very fire.
queutly some Of the jury cant even read
the instructions When written By the
court Such juries may be thoroughly
honest, conscientious, and impartial,
but their very ignorance bars them
from assuring justice They are natu-
rally sWayed by such arguments of the
LAWYERS as reaches their Own senii
ments or preconceived notions. The
conscientious, igsoraut juror, can no
ders,aEd tl.as b e mast give the prisone
the benefit of tie doubt. aud the law.
yer, knowing this, by appeals, in,riea,e
points ADD reasoniugs gets the juror,
mind betogged. and be mistakes his
own want Of understanding for "a rea'
sonable doubt" Such juTies are Liable
to punish the innocent, or to aequl
the guilty. If they convict the limo
cent of a great crime the wrong CAT
be righted. at heavy expense, by at
appeal to the higher courts if they
aequit the guilty, the prosecution gen
orally stops and the criminal is turnec
loose upon society. Then come mobs
&c, &c. Hence. we say, ignorant ju
ries are a fruitful source of much @
the complaint which is heard all over
the State in regard to the non enforce.
meut of justice iu the courts. Let th'
statutes be SO amended that reading
men, Instead Of rendering themselves
incompetent thereby. shall be the oHt3
ones whe are competent jurors.
TnE spotted Negro" who resided a
MAY field died iasf week. lie was a