Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1898-06-11
SILVER ALMOST EXHAUSTED
RUN UPON BANK OF SPAIN.
Has Only Twenty Millions ON Hand
With Which to Meet Two Hundred
and Sixty Millions of Outstanding
Notes-Dewey's officers Are Re-
warded

and Sixty Millions OF Outstanding
Notes-Dewey's officers Are Re-
wardcd.
New York, June "a dispatch to the
World from Madrid says:
currency. The run upon the Bank OF
Spain has assumed such proportions that
people form i'll long lines houres before the
offices open in Madrid and the provincial
branches. The bank gives small notes in
exchange for 1000 or 500 peseta notes,
only exchanging for silver pesetas or dol
lars the 25, 30 OF 100 peseta notes.
The government has yainly tried to stop
the run by prohibiting the export of sill
Yer. promising to coin millions of pesetaS
daily. which it can not do until it ins
creases the machinery of the mint.
Every retail store market and tobacco
stall rejects the notes, and the money
changers charge 5 per cent discount.
The Bank of Spain has S20,0Oo,000 in
silver to meet the 100000 900 in notes i'll
circulation. Tax collections We're much
slower this spring than heretofore, and
the new taxes are expected to produce so
little that the government has decided to
raise money by negotiating Il foreign loan
i'll France, pledging the principal monop-
oieS; the ministers OF war, of marine and
of the colonies having declared that it is
absolutely necessary to have T21 100000
monthly.
Castillo Begs intervention.
London, June 2 The Madrid CORE
spondent OF the Morning Post says:
Senor Leon Y Castillo, the Spanish ann
bas~ador to France, at his conference with
the queen regent and Senor Sagasta, was
officially charged to ask the powers to in
tervenc to obtain peace on such terms as
would protect the amour propre of Spain.
The ambassador will urge such interven-
ton. Political aud diplomatic circles III
Madrid believe that Castillo will succeed.
Dewey's officers Rewarded.
Washington, June 2.-1he president to-
day sent these nominations to the senate:
Navv-For advancement for meritorious
conduct in battle: Captain Frank Wildes,
to be advanced five numbers; Captain
Charles Y. Gridlcy, to be advanced six
numbers: Captain Joseph b. Coghlan, to
be advanced six numbers, Captain Nehe-
miah NJ. Dyer, to be advanced seven num-
bels: Captain benjamin p. Lamberton to
be advanced seven numbers; Commander
Asa Walker, to be advanced nine mum
bers: Commander Edward T. " ood, to he
advanced ten numbers.
Land Attack Necessary.
New York, June "A special to the
Tribune from Washington says:
Commodore Schleys reconnaissance at
Santiago bay, so far as its result is known
to the authorities here, confirms the mn
preston of General Miles and other mill
talN officials last week that from the mo
ment CerVera' 5 squadron entered Santiago
the cooperating of land and naval forces
would be necessary i'll the conduct of Il
successful campaign against HIM unless he
undertook to force his way out of the trap
before he Was surrounded and over
Whelmed.
1t is true that Commodore Schley,s eX-
change of shots with the shore batteries
has demonstrated that they We're weak
affairs at best, but it is not expected he
will undertake to send his ships up the
narrow, tortuous channel in single file i'll
order to destroy the Spanish cruisers,
when the result may be readily accom-
pished with infinitely less hazard. llav-
inc satisfied himself Of the impotency OF
A. hal Al "a
that he will now blockade the channel by
sinking one or more worthless hulks at
the entrance.
That Schley did not follow up the tre-
mendous advantage he gained III the utter
demoralizaton of the Spanish land forces
is taken as an indication that he had this
object ultimately in view, for the naval
authorities had informed him that vessels
to be used as distractions were already
on the way to i'll him and should arrive
in a day or two at the latest.
SchIe,'s Orders.
New York, June "a dispatch to the
World from Washington says
Ever since the administration got news
that Ccrvera was we'll bottled and we'll
corked up at Santiago, q large land and
sea- expedition to destroy or capture his
fleet and occupy Santiago has been plan
ming. Schley viii have sufficiently pow
erful squadron to prevent Cervera from
escaping and from letting provisions III to
him, it being known at Washington that
coal and provisions were on the way to
him there.
Schey's orders We're substantially these:
Not to try to take Santiago or to reduce
the Notifications; not TO engage Cervefa
if he should try TO escape until he was
clear of assistance Of the guns OF the fort;
not to let him escape or let supplies or
reinforcencnts get in to him not to let
Spaniards make amy repairs or additions
to the forts at the mouth Of the harbor
Ever since the tiasco at San Juan. OF
which the last has not yet been heard, by
the way. the administration has been most
anxious that there shall be no more half
back bombardments. to be heralded as re
pulses and Spanish victories. Indeed, SO
anxious was the administration that it
gave Schlcy fleet only strong enough TO
control Cervera, and not strong enough to
tempt him, no matter how provoking the
circumstances, into trying to initiate
Dewey.
Stories of the Fight.
Port Antonio. Jamaica. June delayed
in transmissionJ. .- The Associated Press
steamer Dandy, which arrived here to-
night, reports that the fleet of Commodore
SchIey yesterday afternoon attacked the
batteries at Santiago de Cuba and the
fleet OF Admiral Cervera, lying i'll the han
Dor.
The Spanish flagship Cristobal Colon
was struck twice by shells from the Mas
sachusetts and the batteries were badly
damaged by the fire from the cruiser New
Orleans. Three hundred shots were fired
by the Spaniards, and one-fourth OF that
number by the Americans. No American
vessel was hit and no one on the ships IN
jured The Spanish loss was not heavy.