The Holly chieftain., 1898-01-07
BRANCH BANKS.
Thomas G. Shearman Favors Their
Establishment on a Large Scale.
LIR. ROCKEFELLER'S GIFT.
Chicago Univer.ity Receives 100000 from
the Millionaire and College of Com
merce anu Politics VIII lie Estab-
iished-Atonement for Theft..

NEw YORK. Jan. 5.-In response to q
request from the monetary commission
for an expression of his views on vari-
Gus financial questions, Thomas G.
Shearman, of this city, has submitted
to the commission a paper on the
establishment of branch banks on n
large scale. Il regard this plan as far
more important. as well as more prac-
ticable.a says he, than any other
remedy which has been proposed for
the settlement of the currency ques-
tion.' Mr.. Sherman insists that
nature has driven conditions
forward to point at which the
whole country is actually on a
banking bnsis. instead of money
basis. for exchange Those sections
OF the country which have the fewest
good banks are just as much upon u
/ banking basis as the rest of the
country" he says. The tremendous
increase of exchange, which has gone
on with advancing civilization. has
reached proportions which make it
hopeless to expect that such exchanges
can ever be carried on by the use of
actual money. however that term
may be defined. And whether
money consists only of gold and
silver, or includes also bank and gov
ernment notes, representing gold and
silver, makes practically no difference.
There is not. there never was and there
never will b.. enough money, even
within these liberal definitions, to
enable one-tenth of the exchanges of
this country TO be conducted by the ac-
tual use of any such money. The dis
proportion will increase instead OF
dim! nish. The large central banks
ought to be allowed to establish
bran ches in every part of the country"
Another hock-teller Gift.
CHICAGO. Jan. 5.-Ap the 2ist convo-
cation of the university of Chicago. at
the Auditorium last evening, Presi-
dent Harper announced the gift of
5000, 900 by John d. Rockefeller to en-
able the university to swell it's income
for the year beginning July 1. 1895, to
sI29, 200. the sum needed to carry out
its work as planned. He also an
nounced that a college of commerce
and politics would be inaugurated
under the auspices Of the university
to teach practical business and politics,
to include departments of railways
and transportation, banking, finance,
Insurance, manufacturing. trade, dip
lomatic service and journalism. The
afiiliation of Rush Medical college, one
of the pioneer medical institutions of
the west. with the university was also
announced.
Achievement for Thefts. ||
SAN BERSARDISo. Cal, Jan. 5.--A. p.
Revis, a member of the Salvation
army in Redlands, who was arrested for
wholesale thievery. appeared before the
superior court yesterday with Bible
in one hand and a tabulated statement
of his thefts. committed since 1855, in
the other. He pleaded guilty to the
crime charged in the information and
also insisted that punishment be ad-
ministered for each theft committed as
per his schedule, which appeared by
the score. In that way only, he said.
could he atone to just God The de-
fendant resented SO novel case,
without any attorney to advise him.
that the court refused to pass sentence
without further consideration and con-
tinued the time for sentence two days