The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1899-02-11
The Gold Standard Bill.

AA1S ~AOAu AstAssteA ~ AfhAAs
Representative Charles w. Stone, OF
Pennsylvania, submitted to the house
on Jan. 81, his report to accompany
the Hill bill recently reported from
the committee on coinage, weights
and measures, of which Mr.. Stone is
chairman. The Hill bill, the report
says, contains an affirmative declara-
ton for the gold standard; a provis-
ion for the interchangeability of all
forms of money; separation of the
note issue from the fiscal branch of
the treasury department OF the green
backs, and the establishment of
branch national banks.
Mr.. Stones report says that the
Hill bill is conservative in purpose
and provision. at SEEKS says he,
Ito strengthen, solidify and modify
our present system rather than to
build new. Itespecially seeks to al
lay at home and abroad all doubt as
to thepresent and permanent quality
of our money and to make and keep
the credit of the nation above the
reach OF successful attack or we'll
grounded apprehension
The minority report, which also
was submitted, says the billwill make
radical changes in our whole currency
system and work serious, and it is
believed, disastrous contraction of
our money volume and destroy the
whole OF the silver coinage. The bill,
says the report, fixes absolutely and
unqualiiiedly the single gold standard
upon thecountry. All the standard
silver dollars are swept from their
present position as standard money
and into the category OF credit money
and made charge upon the govern
ment for their redemption in gold
The provision repeating the law which
prohibits national banking associa-
tons from. Withdrawing from circula-
ton more than three million dollars
in any one month gives the banks a
power that will inevitably lead to a
sudden contraction of the currency
and business prostration. This will
give the banks, says the minority re-
port, the power to contract the cur
rency at their will, and to coerce Iegis-
lation under threat of panics and bus
mess depression to be brought about
by such contraction. The whole
scheme of the bill, continues the mi
nority, contemplates the destruction
of silver as money; the destruction OF
greenbaeks and treasury notes as
money, and denies to Congress the
right to issue paper money except by
farming out to corporations this
great sovereign power. Notice is Civ
en- that a substitute will be offered
providing that both the gold ard
silver dollars shall be standards of
value, and providing for free coinage
OF silver. Now for discussion.
To Build a Cotton Factor.
The following, which appears in the
Shreveport Times OF the 9th instant,
in which the question of building a
cotton factory is discussed as an as
sured fact, shows that the subject is
receiving immediate action:
One Of the pleasing features IL that
outside people are voluntarily sending
in requests for stock. The following
letter was received by Mr.. Jules ORGY
fus yesterday:
Colfax, Grant Parish, La, January
81, 1899.-Dear Sir: / see by the
New Orleans Picayune of the Goth
that your city is making an effort to
raise subscriptions for building and
operating factory for the mannfac-
ture of cotton goods. would like to
take stock in the enterprise, say 5 or
10 shares, and write to ascertain if l
can secure it. l will be obligedfor an
early reply and enclose stamp. l
am yours truly, G. H. McKNIGHT.
The people OF Shreveport evidently
intend to build a cotton mill, and Mr..
Meningitis letter convinccs us that
a canvass of the subject would devel-
op sufficient capital to build oas ii
Grant parish.
Dangers Of the Grip.
The greatest danger from La Grippe