The Caucasian. (Clinton, N.C.) 188?-1913, 1896-01-16

. i 0es cOnIQ dc circulated IS money
as well as held for Investments. He
said:
AZ received . letter from my wife
in Paris when the French loan was
being taken. She said tina, every
servant oout the hotels and all the
walters were gathering up money 10
get ~ francs to buy a bond. They
all took IN interest in II. We have
no such opportunity here IN the
dollar bond; then comes the asser-
ton that they must be sealed bids.
and that they may be rejected, 10
discourage the people. That is a
matter Of uncertainty about IL. Then
the ordinary person can not Tx the
price to determine any given per
cent. If this had been intended as q
popular loan the denomination of
the bonds would have been not 10
exceed s.. 1t would have been ar
ranged that they should be paid for
ment would have fixed price which
would have made it 3 per cent
bond. The government officers could
have figured it out SO that every
body would have understood it, and
the people, No doubt, would have
taken about all the bonds the gov
eminent wants to issue. The gov
eminent should have figured it out,
whether it was ll6, III, lis, or 49,,
so as to make it ; per cent. bond
and stated that price. Then the peO-
pie could have taken the bonds;
they would have been within the
reach of the people. But the pro-
posed issue is placed out of their
reach by dozen different arrange
ments in this proposition.
House.
Twenty-four pension bills intro
duced
FRIDAY, JAN. lOTH.-SENATE.
Only four pension bills were nitro
duced
On this day Senator Pritchard
made his first speech. He had Of
3 fered an amendment to the tariff
{ revenue bill passed by the House to
restore the duties by the Mckinley
q tariff to certain articles. During the
1 ton from large number Of the
most prominent Democrats and lum
Der firms in the eastern part of the
State of North Carolina, asking that
lumber, both rough and dressed
4 be put back on the tariff list. A
;. petition from prominent lumber
. firms in the western part of the
State was also read. The iron ORE
q industry in North Carolina was als(
! pleaded for in the same way.
Senator Jones, of Arkansas, ad
a dressed the Senate at length in favO
f of the free coinage bill, which ha
. been offered in the Senate as a sub
E stitute for the bond bill passed b.
he House. He referred to the de
a pressed condition of the great inter
~ ests of this country, and also illus
g trated how the gold standard worke'
;. in other countries among all tn
4 people except bondholders and gol
~ dealers.
- He said:
y The issue of bonds can not alte
- existing conditions, and the cause
y which have brought about the pre-:
& ent situation will speedily brin
~ about like results and another sal
=, &c of bonds will soon be just as nece
- sary as this, and this ''endle:
10 chain" of bond sales might continu
y, until thousand millions had bee
- sold, and yet we would be no near'
- solution of the difficulties whic
~ encompass US than We are now.
of fact, the President in his last annu'
~ message to Congress says, after j
80 suing hundred and sixty million
" of bonds, that, at that time (the b
ginning of this SESSION. to use b
language, I'VE are nearly where v
started" under the system propose
u by the House of Representatives
the President.
There were more business fallur
o. in numbers and amount during Il
year 1895 in the United States tn;
,e- there were in the panic year of 1S9
rs there were q million acres less
ny corn planted in Great Britain in IS
zee than in 1894, thus throwing out
ed employment. it is said, $4,000 labe
SO ers.
to The following is from the Dai
Telegraph of London Of a rece
le- date:
I'll "On Tuesday, November &c la
ms an estate known as Scotland far
,ry situate about IL miles from Sal
bury, and containing sol acres
BILE light but healthy sheep and &C
inc land, with good farmhouse and 81
ro- stantial buildings, was sold at al
3a- ton by Messrs. Waters & kawlln
cid of Salisbury, for the sum of f1,6
the In 1879 the same estate was boue
ern for $1,000 and at that time It '
considered very cheap. Since tt
the considerable sum has been
the pended on improvements"
,lu- How does it happen that in ii
of of profound peace all over the wor
ent with abundant harvests, with
tor pestilence or other such calaml
such a condition OF things can ext
airy No local cause can account for
sed for it embraces all the greatest
.om tons in the world. There must
some cause operating in all tn
res countries to cause such widespr'
be distress, uniform in character. L
cause seems clearly to be the fall
lion prices which has cursed and bias
her this country for twenty years.
evil effects of such a condition n
9 of no proof. 1t is clear to the mint
nds any man that such a condition
at burdensome to any business, and
con- been so recognized by writer's on
, of litical economy from the beginni
anne David Hume long since W,
tise- that
5 in IF prices rise, everything ia
hest a new face; labor and industry
life; the merchant becomes n
osed enterprising, the manufacturer n
;olu- dlligent and sklllful, and even
the farmer follows his plow with gre
ordS alacrity and attention, 1t pr