The times. (Owosso, Mich.) 1882-1897, 1886-12-10

CATION. and as result announces that the
Story Is malicious and unfOunded: that
there is no consul in the district who does
not enjoy the esteem and confidence of the
community In his social and business rela-
tons and sustain the dignity Of his Office.
THE NEW CRUISERS.
The Secretary of the Navy has accepted
the following bids tor the construction of
the new cruisers and gunboats: Cruiser
No. 2 lCharleston), Union Iron Works of
San Francisco, Sl,0l7. 5000; cruiser No. 3
phia, 81, 325, 900; gunbOat NO. 2. the Column
bia Iron Works ~ Dry-Dock Company OF
Baltimore, S247, 600. III the case of gun
boat No. / no decision has vet been reach
ed as between the bid of Reeder q Sons
and the bid OF Cramp u Sons. Although
the Union Iron Works OF San Francisco
nut In the lowest bid on cruiser No. (the
Newark), yet, as the figures exceed the
maximum amount fixed IN the appr0pria-
ton bill, the Secretary was unable to ac-
cept their bid. He will probably refer the
matter to Congress with q statement of the
facts, and recommend that the appropria-
ton TOR the construction OF cruiser No. be
increased, or that the government be au-
thorized to build the vessel at one Of the
navy-yards.
ADMIRAL PORTER ON THE NAVY.
Admiral Porter In his report to the Sec
rotary of the Navy, renews in his recon-
mendatlOns OF last year to repair the eleven
ironclads now laid I'M Mt City Point, Va.
1--WE do not require" the admiral says,
"the massive ir0n-clads such as are con-
structed for European navies. We want
nothing better than the double-tuYreted
monitors, such as we already possess, with
somewhat greater thickness of iron and
with the heaviest rifle guns that can be
mounted upon them. Two of these mon
itors, fitted with rams and t0rpedoes and
properly handled, would be match for the
heaviest European iron -clad that could
reach our shores. The building of the At
lanta. Boston, Chicago and Dolphin is q
step In the right direction, but we require
for the navy three classes OF vessels. The
first class should be represented by a vessel
not less than 5000 nor more than 1900 tons,
and able to make for few hours speed
of 1915 knots. Tho second class should be
vessel of not less than 400 nor more than
5000 tons, able to make for n few hours
speed of ~ knots. Vessels of the second
class to serve rs fiagships on foreign sta
tions. The third class should be vessel
OF 5000 tons, able to make for q few hours
speed of is knots"
THE CURRENCY.
The annual report OF the Comptroller of
the Currency contains suggestions for the
amendment Of the national bank laws in
about a dozen instances including the con-
tingent liability of shareholders, require
ments as to reserve, the limit on loans to
individuals more thorough examination OF
equal state taxation. Thirty-five hundred
and eighty national banks have been organ
lied In all, of which q S5S are now in opera
ton; OF these ia have been organized
during the year; capital, SCI 600. 900; bonds,
So, 100000; circulation, $2, $4,000. Twenty
four banks went into voluntary liquidation
during the year, one ceased to exist by eX-
piration OF charter, and eight failed. The
tailed banks have an aggregate capital OF
$650,000; surplus and undivided profits,
$:O40oJ; liabilities, Sl,SoO,Oo0 The credi..
tors or two of these banks have Ueen paid
i'll full, principal and interest. In two
cases dividends have reached 80 per cent,
in one case 20 per cent, and one 20 per cent.
The total d vidcnds paid during the year
by all iusOlvent banks exceed S1,600,0J0,
and the banks have been finally wound up
and their accounts closed, leaving twenty
five insOlvent banks still in the hands of
receivers. Since the beginning of the sys-
tenn, IN 1868, only liz national banks have
failed. OF these thirty-eght have paid
their creditors in full, and twenty lave
paid interest besides, fifteen in full and
five In part
DOOMED TO SLOW DEATH.
The fate of the Indians captured in the
MltS culnpalpn IL Practically SetJleu. III
was not decided when they were first sent
East whether any of them would be tried
for crimes or NOT. The President has eX-
amined the case very carefully and has
come to the conclusion that life confne-
ment for all of these Indians in Florida,
where they can do 10 harm, will be the
most thorough punishment which can be
visited on them. 1t would be travesty on
justice to have these Indians tried in Ari-
IONA and New Mexico. There IS not a
white man IN either one of those terri
tories who could sit In case involving the
rights Of an Indian with any kind of fair
ness. The conviction of the criminals
would leave their families untouched.
These families would train up children to
revenge the deaths OF those who were
punished, and the result would be con-
tinuatlon Of the lawlessness which for
years has made life and property so inse
cure I'm the two territories. AS q matter of
fact, the 500 Indians transferred to Florida
have been sentenced to u lingering death.
They have been brought up in the mount
ain countries, accustomed to freedom in the
pure, cold air OF high attitudes. Their
transfer to and confinement in the warm
climate OF Florida will simply result IN
their dying Off like so many sheep. Ex-
perienced army officers do not think that
there will be one of them alive at the end
OF the next five years.
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