The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-28
ca USE OF TIE FAILURE.
Too Little Currency superinduccd by the
Sherman silver Act-Other News.

WINSTON. n. c., July H%.-Speoisl.-
The New York World yesterday sent a
telegram TO its correspondent mere re-
qt esting him TO call upon the president or
the chief officer Of the failed First Va
tional Bank here and get a short inter
view TO the following question: ITO what
do yoU attribute the failure OF your in
stitution; that is, what is the main gem
erdl cause.-the Sherman Silver law or
the prospect Of tariff legislation at Wash
ington? Harrison says tariff is the cause.
while Cleveland says silver"
Mr.. J. c. Buxton, ex-president Of the
bank, n national hank examiner, re-
piled as follows 10 the Worlds query:
Il would say that the main general
causes we're want OF sufficient currency;
want Of confidence throughout the coun-
try; inability Of debtors TO convert their
productions into cash 10 meet their obli-
cations, and cutting off OF rediscounts
by banks I'm New York, which had been
carrying paper Of the customers OF the
bank. l believe the Sherman Silver law
has had a great deal TO do with the de-
struction Of confidence, and / think its re-
peal will at once tend to restore conf
dence."
President Butler, of the State Farmers
Alliance. IS eulogizing Senator Vance since
he wrote his recent letter indorsIng the
views Of the Mecklenburg Alliance on the
Sherman Silver law. In his speech I'm
this county a few days z Butler said
that Vance did not stand In" with the
present administration, therefore he could
not get as much as the appointment Of a
fourth-class postmaster In his State.
Mr.. Thomas h. Purnell. of Raleigh,
who was the Republican candidate last
fall for Attorney-General, is visiting I'm
Salem. / asked him yesterday If he knew
anything about the report that the Re-
publicans and Popuiists were arranging
for n fusion. He replied that he had
heard a great deal OF talk lately along
that line, and that he would not be sur
prised IL such a deal was made, though
he was out OF politics and had not been
I'm any conference with the leaders OF
the old and new parties. Leading Repub-
leans In this section virtually admit that
an effort is being made 10 get them and
the Third party TO join forces.
Colonel G.. T.. Webb, secretary Of the
North Carolina Tobacco Association. tells
me that the Association will leave Green's
boro in a body on August 10th for the
Worlds Fair. The tobacco men will have
a special train and will ravel In five
Pullman cars. They viii arrive In Chi
cago in time TO be present at the big
Exposition on North Carolina day. which
viii be August 18th. The annual meeting
OF the Association will be held while en-
route. The fare for the round trip. In
Guiding every expense, Will not be over
$50 or s55. says Colonel Webb.
The First National Bank here Is NOV
ing along handsomely towards reorganiza-
tion. The consent OF the stockholders to
the extent OF 1850 out OF 1000 shares has
been secured. and depositors have signed
TO the extent OF $4,000 20 pay the assess
ment Of % per cent. on their stock.
Fork church., in Davie county, is one
hundred years old. and the members
Naptist) have arranged an appropriate
programme for a centennial celebration
nsxt Sunday.
The directors and trustees Of the colored
Agricultural and Mechanical College have
been In session here for several days.
The executive committee elected the fol-
lowing te'~ hers: c. H.. Moore, OF this
place. professor Of English. salary 40
per annum II. III. Falkner, second assis-
tant OF English. at Si2J per annum: j. y.
Dellinger. professor Of chemistry. IL was
decided to postpone the election of other
teachers and officers until another meet
ing.
About twenty couples Of young people
from this city attended a moonlight pic
mic at the Guilford battle-ground last
night. II was one OF the most enjoyable
events OF the season. Music and dancing
In the pavilion, added TO the pleasure
OF the occasion.