davidaulloa/AmericanStories huggingface dataset:
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
The Bonanza which Detroit Corpo.
ration has Located at Alpena.

In the heart Of the city Of Alpena,
surrounded by high board fence,
there has just been completed the mill
Of the international Sulphitc, Fiber
4 Paper Company of Detroit. Moses
w. Field, the President, arrived home
yesterday morning from Alpena, where
he has been for several days examin-
ing the initial operations of the mill
in company with several other men,
bcrs Of the corporation, who were APP
pointed committee for that purpose.
A Free Press reporter called upon Mr..
Field at his office yesterday and ascer-
tanned the nature Of the product and
what il is to be used for.
Several hundred years ago." said
he, going into the hisorty Of the ma
terial, "an old German discovered
that there was a process by which all
resinous woods could be reduced to
long, white fibers. But the material
used--an acid salt could not be work.
ed in any known metal except platin-
um on account Of its corrosive nature,
and ms platinum vessel Of large
enough proportions could not be pro-
vided for less than several millions Of
marks the process of treating wood
chemically was speedily abandoned
and the mechanical operation was ex-
tensively adopted, especially Ia Amer
lea. In the process Of mechanical re-
duction Of wood, il is cut into chunks
and ground into pulp on the face Of
mill stone revolving rapidly. 1t re-
NAMED for DR.. August Mitschcrlish
to overcome the difficulty In using
chemicals in the production Of wood
fiber. and several years ago he invent
cd and patented a lining for the chem
icsl vials. or digcstors as they were
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
Detroit Markets

The following market quotations
are copied from the Detroit Free
Press.
Apples, $500 to s2.65 per barrel.
Butter, IA to IS per pound.
Flour per barrel, 1915 to $500
Hay, baled, $14 to $50 per ton.
Mess beef, $500 to $3.50 per Dbl.
Oats per bushel, 30 to 81.
Onions, $500 to $e.25 per barrel.
Pork, $11.75 to $500 per Dbl.
Potatoes, per bushel, % to 40.
Wheat, $3.50 to $0.s2 per bushcl.
The quotations, given by the Free
Press, are mostly of a Wholesale ma
ture. The prices at retail stores must
be somewhat higher.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29

Congress has again refused to con.
slider a plan TO reduce the tariff taxes
The vote was In favor Of consid-
ering measures for reducing the tax
there were 143 Democrats and 6 Re-
publicans, while 1913 Republicans and
Is Democrats voted against it. Nine
teen members did not vote, Of which
Q would have voted in favor of tax
reduction if they had been present or
not paired. Republicans, by an al
most unanimous vote, have placed
themselves on record as being opposed
to any reduction Of the present tariff
taxes.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
Woman Suffrage.


of New Hampshire brought up for
consideration in the Senate the joint
resolution which proposes the follow
ing amendment to the Constitution of
the United States:
"The rights Of citizens of the Unit
ed States to vote shall not be denied
or abridged by the United States or
by any State Oh account of SEX"
This is the woman suffrage amend
mcnt which has been before Congress
during several sessions, and Mr.. Blair
is very anxious to get vote on the
resolution at an early day, the major
ity of the committee to whom it was
referred having reported in its favor.
The chief interest Of this report con-
sists in its history Of what has already
been done by several States toward
admitting woman to the ballot.
The first petition for woman suH-
rage was presented to the Legislature
of New York as early as 1885, and
the subject was again brought to the
attention of the Legislature in 1916.
Since that time similar petitions have
been urged upon nearly every Legis-
lature in the Northern States. Yet
full suffrage has been granted to wom-
ell in three Territories only-Utah,
Wyoming, since 1869, and Washing
ton Territory since 1888. Five States
have gone so far as to submit to the
voters the question of amending their
Constitutions by stiking out the word
male" from the suffrage clause
Kansas in 1867, Michigan in 1874,
Colorado in 1877, Nebraska in 1882,
and Oregon in 1884; but in each
case the amendment was defeated by
vote of about two-thirds to one
third.
Nearly every Northern State has
had before it from time to time since
1870 a bill to secure such expression
Of the will Of the voters. In some
instances the measure has been passed
at one session, but has failed at anoth-
er. Iowa, for instance, passed it in
1870, and killed it in 1872; passed it
again an 1879, and failed to do so in
1876; passed it in 1878, but defeated
it in 1880, and the sessions of 1882
and 1884 were also at variance regard
ing the subject. Yet the women, we
are told, are not discouraged, but are
determined TO try II over again in
that vacillating State. In New York
the bill to prohibit the disfranchise-
ment Of women has several times
come within five votes Of passing the
Assembly.
In eleven states school suffrage tor
women exists. namely, Colorado, Kan
sas, Kentucky, Michigan, Minnesota,
Massachusetts,, New Hampshire, Ne
braska, NewYork, Oregon, and YER
mont. In nearly all the Northern
and Western States women are elect
ed to the Offices Of county and city
superintendent Of schools, and as
members Of school boards, and in
Louisiana the Constitution of 1879
makes women eligible to school offices.
In the election of 1885, Kansas and
Iowa elected several women to such
Offices as those of County Clerk. Reg
lister Of Deeds, the like, and thousands
Of women are Postmasters under the
Federal Government. The movement
for the amendment to the Constitution
of the United States to grant women
suffrage began in 1865, and since 1869 |
there have been consecutive applica-
tons to Congress for the submission |
of the fundamentally. Sun.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
Protection That Would Protect.

If a tax must be put on the import
ed product of foreign labor, gentle
men, why would it not be striking
more directly at the root of the diff
Guilty to put stiff tax on the import
ed laborer himself' That would be
protection that would protcct.-Wash-
ington Post.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
The Only Salvation Of New England
Manufacturers.

New England produces no coal, ores
or fiber., and comparatively few crude
products Of the field and the forest,
and il is to-day suffering very kocnly
from competition with the sections OF
the country more highly favored with
natural resources. One after another,
our great industries are running away
from us, and the only salvation Of
New England manufacturers lies in
the removal of taxes from the raw
materials they use.-Boston Herald.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
Text Enough.

Five per cent. only of American la
borers, workipgmen and mechanics
are directly benefited by the tariff
which imposes an average tax of for
ty.six per cent. ON the value of the
articles taxed. No better text is need
ed from which to preach the need of
revenue reform. Bee.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29

What is cold In the head? Medical
authorities say 1t is due to atmospheric
germs, uneven clothing of the body, rapid
cooling when in pcrspiration, etc. The
important point Is, that cold In the
head Is genuine rhinitls, an inhamma-
tion of the lining membrane OF the nose,
which, when unchecked, is certain TO pro-
ducc catarrhal condition--for catarrhal
condltion-for catarrh is essentially a
cold which nature is no longer able TO re-
solve or throw off, Ely's Cream Balm has
proved Its superiority, aud sufferers from
cold In the head should resort TO IL be.
fore that common ailment becomes seated
and ends In obstinate catarrh.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
Ready to w can.

The fact is that protection has done
all it can toward stimulating the WOOL
en- industries. The infants arc ready
for weaving. They have arrived at
such condition of growth that they
can supply the home market. What
they should have now in their own in.
terest is free raw material and free
chance to compete with other maui
featuring nations in neutral markets.
philadelphia Record.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29

Godey's Lady's Book for January Is
sparkling with good things. robin
Adair," the new story by Miss Rose
Elizabeth Cleveland begins In this num-
Der. This Is the first effort in story writ
ing by the Presidents sister, and IL was a
stroke of brilliant enterprise for the pub
Usher Of Godey's to secure IL. Jenny
June, one Of the best fashion writers In
the country, contributes one Of her spicy
society letters from New York. Many
other authors, favorite and celebrated,
contribute interesting and valuable ar.
ticles
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
A Merry, Merry Christmas !

And will ALL have Happy New you those
celebrated of all Singers the Oclatng SINGER SEWING
1t sings language its cheering
of land and cline than
wealth abound.
This Singer the friend of all poor learned
uneaned Great vocas sung great
Singer singing millions No above needing one
and soo these unng hepmeet
sweey (but not loudly while it works
Ladies cordially invited visit office Inspect peer
less a. F." Machines.
THE SINGER MANUFACTURING Co,
j. k. PARKER Agt, Opera House Store.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
Pensions.

According to the report Of the
Commissioner of Pensions for the
year ending June Goth, 1896, there
were 365,7s3 pensioners, classified as
follows: Army inyalids. 265,s54
widows, minor children and depen-
dents, s0,l62 survivors of the war
of 1912, 1889; widows Of the same
war, 1897, navy 4.83l.
The number Of new pensioners 3D.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
Meteorological Report

During the week ending Monday
Dec. 9th, 1885, the meteorological
report of the weather at Alpena city,
was rs follows:
Highest temperature, 80 degrees, on the 23rd.
Lowest temperature, 8 degrees on tho o7th
Average temperature, q degrees.
Highest baromctric pressure, 1920 inches.
Lowest barometric pressure, 1919 inches
Total rain fall 0.9e inches.
Prevailing wind, from the southwest
Total movement Of wind, 1869 miles.
Greatest daily rainfall, 0.23 inches, on the 9Th.
Highest velocity Of the wind, 2e miles, from the
west, on the goth.
JAMES j. FIrZGERALD,
Serg't Signal Corps u. s. A.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29

Having examined the formula from
which Adamson's Botanic Balsam is pre-
pared, we recommend 1t as safe and re-
liable medicine for the cure of asthma,
coughs, colds and all diseases OF the
throat, chest and lungs.
GEO. w. MARTIN NJ. d.,
l. II. STEARNS. NJ. D.,
Formerly sur. N. M. Asylum, Togus, Me.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
Weather.

The lowest temperature at various
sections of the country was as follows
during the week ending Dec. Doth,
1ss6-Saturday cxccpted--thc six
observations being taken at ten
o'clock P. NJ, by the L. $. weather
observers:
10 O'CLOCK p. NJ. OBSERVATION.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
APPOINTED oYYfcxRs,

State Military Board, Henry N. Dufaeld, Of De-
troit Charles Y. Osburn, Of Marquette.
Acknowledgement, John Robertson Of Detroit,
Inspoctor-General, James H. Kidd OF Ionis.
rmaster-Gen, George 4. Hart, OF Napistes
Com. Of Railroads, w. McPhsrson, OF Howell.
Com. Mineral Statists, q. Il. Wright, Of Marqustte
Warden State Prison, Hiram r. Hatch, Of Jsckssn
Oil inspector, stalham w. La Du, Of MontoaIsa.
Watkins, OF Kent
Population Of State in 1884 was 4. soAe15.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
State Government.
ExEouIfyI oIIIoIpA.

rxEouIfvE oYTIoIns.
Governor, Russell A. Alger, Of Detroit.
Lieut.. Governor, Archibald Buttars Of Chssievc,,
Secretary of State, Harry A. Conant Of Moaroe
State Treasurer, Edward II. Butler, Of Detroit.
Auditor-Gensral. VIM. G. Stevens, Of Ann ArbcY
Comm'r OF Land Office, Minor 3. Newell, Of Fiint
aAttcrney.Generai, Moses TsSgart, Of Kent:
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
Taxes--WiIson township,

Notice Is hereby siven that will be at my resi-
dence. IN Wilson township, every Friday during
December, 1885, from "A. n. 10 sr. NJ, 20 receive
taxes due said township.
JOHN ASH,
Township Treasurer.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
SUPREME COURT OF THE UNITED STATES.
Chief Justice Morrison II. Waite, o. App'd fs1l.
Michigan Congressmen.

THE SENATE.
Omar ID. Conger, term expires 1887.
Thomas W. Palmer. term expires 1889.
HOUSE OF REPREsxxrArfvxs
l William G. Maybury, Detroit.
Nathan b. Eldridge, Adrian.
.Jsmes O'Donnell, jackson.
4 .Julius g. Burrows, Kalamazoo
Charles c. Comstock, Grand Rapids.
Edwin b. Winaus Hamburg.
Ezra @. Carlton, Port Huron.
Timothy T. Tarsney, East Saginaw,
Byron M. Cutcheon, Manistes.
10 Spencer o. Fisher, West Bay Ctr.
II Seth G. Mofstt, Grand Traverse.
Those marked are Republicans.
seth coHaREss.
The Senate consists Of 40 Republicans, ~ peac-
Gratis, and Re-adjusters.
House of Representatives consists Of le7 Demo-
Gratis, 140 Republicans and eysenbaoker
Number Of Representatives, 325.
The salaries Of Senators and Representative are
5000 each per annum with ei25 allowance for sta
tionery and 20 cents milage.
The Senators hold Office for six years ana the
Representatives for two years.
The counties composing the Tenth congressional
district are as follows: Alpena, Aeona, Bay, CisFs
Crawford, Cheboygan, Emmet, Giadwin. Isses,.
Montmorencyl otsego. Ogemaw, rYesqus IsieA Bcs~
common and fuscola.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
olubList.

Parties desiring 10 save money can
take advantage Of the following club
list at this Office, for journals for
1887: f ~
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29

We Call the Attention Of the Ladies Of
A1pena and ask them to call and exam
inc our elegant line Of Black Colored
Silks, which we have just received, and
will sell at remarkably LOW PRICES,
Please call and be Convinced, as we say
what we mean.
NETZORG & GUMBINSKY.
PACK BLOCK.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29

A tariff duty is n tax, the most Of
which is paid by poor men.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
eouNrY oYYrcrns.

eouNTr orYIcERs.
Sherif-Janes u. Denton.
Under sheriR-Chas Lynch.
Clerk-M. O'Brien.
Treasurer-Andrew J. Simmonr
Prosecuting Attorney-Lep u n.o
Register Of Deeds-John Tsn o. Dafos'
Judge q Probate-G.o. g. Lsstey.
s Slrcuis court uonlnis.isssr Charles D,AisIs.
Voroners-Feter Owens and Lewis ). Partridge.
soAsp or SCHOOL xxAMrxrrs.
Y. s Dewey, Chairman Ell. Iitt,s s.~-..
A. X. Mcdonald.
Population Of county in 1884, Ia.7i7.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29

Senator 26th district, Charles r. Henry.
District consists Of the counties Of Aipcna, ALe-
ma, Iosco, Ogemaw and osooda.
Population Of district In 1854 was $3.50.
Representative, Alpena district James A. Case.
Otsego counties.
Population Of district in 1894 was iI,i7o.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
SUPREME COURT.

Term Bxpirsss.
James v oampneil, Detroit, Dee. 81, 1857,
Thomas NJ. Sherwood, Kalamazoo. Deo n, isss,
John w. Champin Grand Rapids Dsc Al isst
Allen b. Morse, Of Ionia, pee AZ ia
The judges are elected BY the people, and Aoid
office eight years. Salary, $4,000 per year. ClsrS
Of Supreme Court 10 Charles c. Hopkins; sslsry,
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
HOLIDAY GOODS.
Ar
E. C. NAs0N's.
BOOK STORE
REFERENCE COLUMN.
CHURCH DIRECTORY.


Do
EPI5COPAL.-Rev. J. A. Mock,
Services In Trinity Church, on WashinEton avenus
every Sunday morning and evening.
BAPTIST Rev. T. L. Little,
services IN Baptist Church, Third street. every
sunday morning and evening.
CATHOLIC. -lst Bernardsl Rey. T. d. Flannerv.
Services in Catholic Church every SUNDAY AZ 400
M 1880 A. N. and vespers 400 r. N.
CATHOLICISM. Anne'sl Rev. NJ. Letelisr.
Services every Sunday At 500 A. NJ 1000 A. NJ, ana
vespers 400 2. N.
SoNGREdATIONAL.-Re II. h. Van Auksn.
services IN Congregational Church, on second
street, every sunday morning and evening.
METHoDIsT.-Rev. J. II. McIntosh.
SERVICES IN Methonist Church, on Chisholm street,
every Sunday morning and evening
PHESBYTERIAN.-Rev. N. r. Walker
Service at 1890 A. NJ. and 1890 p. n. Sabbath
SCHOOL after morning service. Prayer meeting
evening
NoRwEGIAN.-Rev. J. A. Wang,
Services in Norwegian Church, every Sunday a.
1890 AN.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
not in 1894 was iy,i7o.
JUDICIAL.

JUDICIAL.
The Twentysixth judicial circuit consiso. of-tb,,
counties Of Alpena, Prssqus Isle, Mestmorenev
and Otsego, and Ii presided over By Ju1re Frsnk
limerick. The terms Of the court are Is souows:
Alpena county
Second Tuesday Of February.
First Tuesday Of May.
Second Tuesday OF August
First Tuesday Of November.
Montmorency county
Third Tuesday OF May.
Third Tuesday Of September.
Otsego county
Third Tuesday Of January.
Third Tuesday Of June
First Tuesday of Oesobcs
Presque Isle county
Second Tuesday Of january.
Second Tuesday NJ June.
Second Tuesday of October
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
United states Govern ment.
PRESIDENT.
hen Grover Cleveland. Salary, $4,000.

THE CABINET.
Secretary of State, Thomas " Bayard, Of pelsSs.
Secretary Of Treasury, Daniel Manning, Of N. r
Secretary OF War, VIM. E. Endicott, Of Mass
Secretary OF Navy. VIM. 9. whitney, OF NY.
Secretary Of Interior, l.. q. c. Lamar Of Miss.
Postmaster General, VIM. T. Villas, Of wiseonsiu.
Attorney General. A. II. Garland, Of Arkansas
Salary Of each. 5000.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29

Alpcna.L P: soper. SUPERVISOR Conrad wssssT.
clerk Walter oavagen. treasurer, and Thomas
Breen, highway commissioner.
Maple Ridge-oiiver Fitzpatrick, sup,svi,sr.
Neil Mcdonald. clerk; Patrick Clarke. tssasuree.
james Gardiner, highway eommissisnsr.
Long Rspids-Dsyid r. Hsrtindais. supervisors
William II. Fox, clerk; John Butler, treasurer.
and John Donald, highway commissioners.
Wilson-Charlss II. Wise, supervisor; Gec>,>
G. Heron, clerk; John Ash, treasures, and Eois.
mon King, highway commissioner.
Green-Jchn A. Kelly supervisor; 3. n. yls,x-
ers, clerk; Alfred L. Allen, treasures. ana -
Fowler, highway commissioner.
- ossinekc.Jsmes L. sslborp. aupsrviscs: Ri II.
roland, clerk; Frank ossick, Treasures, and Levia
Derosie, highway commissioner.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29

crrr OFFICERS.
Mayor, Andrew Hsrshaw INNti
neoor ser, john s. Mevioar.
Treasurer. William III. Poat
Comptroller, James ID. TurnbuIl
Justices Of Peacs, Chayies Dazzle, Mas. -
Donald, and Charles Cook,
City Attorney, yudrou u. Holmes.
City MagshsL Sylvester Westrops
street Qomnisicner. Rsphirim Dssua~s>
Chief Ensies.s Fire psyA Albeft L Ic-sv.
HARDER Muster, Casper Alpern.
City Surveyor, VIM. Nirre
Pound Master. James = 6cnf,,
Joseph Renki, v''vo usoss'" -
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
BOARD OF suyxnvrsons
BENJAMIN r. Young, from let Ward.

BENJAMIN r. Young, nom let Ward
John Govrow, from I'd Ward. '1... l.. ~.
Angus O. Mcdonald, from ard ward
James ID. Turnbull. from Alpsna city.
Loretto =. soper, from Alpena tow.<Sir
oliver Fitzpatrick, from Maple FIder sovn.h<s
i Ls, y M,srt,ndais from Log Rapids townshlp
Charles II: Wise, hom Wilson Sswnshtr-
James L. sanbofn, from ossinsks toWnsb,p..
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29

Aldermen. william =: Carr, chaa L. Kfmbau,
andeT Campbell and Joseph Dsoa ~ ~
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
All Going at Three Quarters" Price.

If you need Overcoat year. it will pay you to buy
at this Grand Closing Sale. All these Goods sold
for Cash ony: No accounts made.
Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1886-12-29
YoMHaHIPa.

Population Of county in 1884. I,,n7.
The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1886-09-22
Hopeful Views.

AT the late New England fair Dr.
George B. Loring combated the preva-
lent view in regard to the decay of New
England farming. He gave long
array of statistics to show that New
England is holding her own in farm
ing. Between 1860 and 1880 the farms
in New England increased in number
from 1S4, 900 to over 1S7 900, while
their value increased in the same period
from SAG, 900, 900 to over $3.50 900 ,000
In those twenty years there was great
change in the character of the crops.
OF course hay has always been New
England's regal crop, but that increased
nearly 100000 tons. Corn and other
grains fell off, but the potato crop in
creased a million and quarter of BUSH
els, and the amount of butter rose from
AZ 100000 pounds to 100000. There
are no figures to show how great has
been the increase of the quantity of
milk for domestic use, but it has been
immense. In notice of DR.. LOring's
address the Pawtucket Chronicle says
While here and there in the country
we have beheld abandoned farm-houses,
we have on the other hand seen evil
dences of energy and thrift. 1t has
been our lot to make the acquaintance
of not few farmers who are clinging
to their homesteads. They are quick
to note improvements, ready to try
promising experiments, and are adding
to the fertility of their land and the rich
ness of their crops. So far as they are
concerned, they seem bent on keeping
up the reputation of the good old times.
n The obvious explanation of the
abandonment of farms in remote and
secluded localities is that their owners
have seen that they could hope for more
profit and larger social advantages in
the neighborhood of the cities and
thrifty towns that have sprung up in
our commonwealth.
The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1886-09-22
The Banking Question.

Much concern is still felt in finan-
cial circles concerning the future
of the national banking system, in
consequence of the rapid redemption
of United States three per cent bonds
deposited in the treasury by the banks
as security for their circulation. All
three per cents have matured and
are liable to be called in at any time, in
the discretion of the treasury depart
ment. There are at present $3.50, 000,-
900 three per cents outstanding, and it
is evident that the supply may easily be
exhausted within the next two years.
Of these the banks hold about SILL
100000 in the treasury as collateral.
According to the last debt statement,
issued September l, there were S737, =
769, 800 four per cents and S250.0 900
four and one-half per cents outstand-
ing. The four per cents will not ma
ture until 1907, and would be good
basis of security for national bank cir
culation but for the high premium at
which they are held. The four and
one-half per cent bonds will mature in
1891, and are therefore not very desir-
able for banking purposes. To meet
the emergency, various plans are sug-
gested. A return to the old state bank
system is not regarded with favor.
The national bank notes have proved
to be the most convenient and safest.
AT the recent meeting of the American
Bankers Association Comptroller of
the Currency Trenholm suggested for
the consideration of the members these
two questions: " How can the banks
be released from the obligation to in
vest portion of their capital in United
States bonds and yet retain the power to
issue thoroughly secure circulation?'
" How can the national bank circulation
be made, what it ought to be, the elastic
element in our national currency?''
AS the cooperation of congress is
necessary in order to put any plan in
practice, the subject will probably be
one of the most important that will en-
gage attention at the next session.