Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1903-09-11

Chicago, Sept. 4.-Secretary Shaw
in a speech before the business men OF
the city last night, in discussing the
currency question said: "The only
criticism now offered relates to want
of elasticity. Not that a dollar can
be made elastic, but that the volume
shall be made responsive to the dc.
mands Of business
"Of course the term is a misnomer.
Elastic material like rubber will ex-
pand in one direction, but it contracts
in the opposite direction, while the
material, the volume, is neither en-
creased or diminished. What is
needed is not an elastic dollar, but
some provision by which, automati-
cally, the aggregate volume of dollars
shall increase whenever and wherever
more dollars are needed, and will as
promptly retire when not needed.
There is now statutory prohibition
against the we'll nigh inherent right
of banks to issue circulating notes.
This right exists throughout the
United States, but subject to a tax
of 10 per cent per n This tax
is p%rohibito ry. II l we've given
authority to formulate a measure that
would provide the requisite elasticity
to our present currency system, I
think I should add an amendment per-
uniting national banks. with the con-
sent of the comptroller of the cur
rency, to issue a volume of circulating
notes equal to so per cent Of their bond
secured circulation, at a tax of 5 per
cent, the same to be retired at will or
by direction of the comptroller, by
the deposit Of an equal amount Of
lawful money with any subtreasury.
Chicago, Sept. 1.-THE Chronicle,
democratic, published a special from
it's Washington correspondent CRITICS.
ing the president in sending the
American fleet to Turkish waters.
The correspondent claims the president
should have waited until further de-
velopments.
Binghampton, N. Y, Sept. d
Rev. Thomas Hayes, of Chicago who
is visiting at this place, undertook to
entertain the members of the church
in a novel manner, and at a social,
produced a tableau called a"Hindoo
Wedding,' and as a joke married
his wife to another man. 1t has
been discovered that under the New
York marriage laws the ceremony is
binding and a legal annulment will
be necessary.
Ivanhoe, Mimi, Sept. Awhile
hunting with a party of friends, Rev.
Father Pryor was killed by the &C.
cidental discharge of his gun, the
charge entering the breast and caus-
ing Instant death.
Sioux Falls, S. D., Sept. Airs.
Roland B. Molineaux, former wife of
the noted murderer Molineaux, who
finally escaped the electric chair, has
been granted a divorce in one Of the
interior counties Of the state. The
decree was granted in secret. Mrs.
Molineaux has left for NewY ork.
New York, Sept. T. The race fol-
the American cup was not started yes
terday until 1 o'clock because of the
light breeze, and the dense fog. Re,
lance won the race by a good dis.
lance, and in just the kind of wind
Sir Thomas has claimed Shamrock
III would do her best.
Fergus Falls, Sept. 4.--The Great
Northern west bound flyer was wreck.
ed at Evansville, a small station east
of this place last night. Five coaches
were derai,ed. The engine, baggage,
mail and smoking cars passed over the
switch but the rear coaches>were de
rallied and tipped over on their sides.
Beyond a few small scratches no one
was hurt. 1t is impossible to ascer
tain the cause Of the wreck as the
track was completely torn up.
Constantinople, SEPT. 5.-The pow
ers have landed troops in this city TO-
the purpose of protecting the embas
sizes They do this under the authorit,
If the joint treaty of the powers will
Turkey, 1t is possible the Unitet
States government will ask permission
to land a detachment Of manners from
the fleet now at Beirut. A Frencl
feet has been ordered to hold itself il
readiness to move to Turkish water
on a moments notice. The polio,
force at the Ameli can consulate ha
been doubled, but the trouble is tina
even the police cannot be trusted
Turkey claims she will soon have
400, 600 troops in Macedonia, and viii
be able to crush the instruction in
short time.