davidaulloa/AmericanStories huggingface dataset:
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
OTHER GRAIN MARKETS.

KANSAS CITY, Wheat-sep
t eeah ~ ssase; Deeember. SIX @s7ssc;
SIC: rejected. 60@62c; No. 2 red, 711a0
re; No. 3. 69@70c. Cern-September,
45Bc: December, 45%c cash. No.
mixed. 45h@46c;o No. 2 white. 4s@5oc:
No. 8, 48@49c.- Oats-No. 2 white, 39c;
No. mixed 351ac.
ST. LOUIS-W heat@Higher: No. red
cash, elevator. 771zc; July, TIC; Sep
tember. 77Ac; Dece1nber." 7SAc; No. z
hard, 71Q77c. Corn-Higher; No. cash.
4Sc; July, 48c: September. Acc: December
47c. oats-Higher No. 2 cash, nominal:
September s1hc; December, $3.50; No.
L1vERPooL.spot wheat dull: No 2
red western winter. 6s21ad: No. / north
ern. spring. IS Sd; NO. Calf. IS sgd:
futures fl IRE ; dull: July. nominal; September.
American mixed easy, As 4d; futures,
steady; July. nominal As fad.
Milwaukee, Wis.-F'lour dull Wheat
Steady; No northern. Size; No, 2 north
Rye-5Dull; No. /, 51@52c. BarIey~DuIl;
No; 2. 5S@60c; sample, 43@52c. Oats
Dull; standard, 37h @3Sc. Corn-Septem-
Der, 49A t@49%c bid.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
CONTRACT WORK.
RouIevardina St. AIbans Street.

Office Of the Board of Public Works.
City of ST. Paul. Mimi. July IL, 1903:
Sealed bids will be received by the
Board Of Public Works In and for the
corporation of the City of st. Paul. Min
nesota, at their Office in said city. un-
til 2 p. m. on the both day Of July, A ID:
1903. for the filling. leveling. improving and
curling with Kettle River sandstone. St
Adams street, from Fairmount avenue to
Iglehart street Except that part OF 81.
Adams street between Selby avenue and
Hague avenue) in said city. according to
plans and specifications on file In the Of
flee of said Board
A bond with at least two (2) sureties
in a sum of at least twenty GOD per cent.
or a certified check on a bank OF st. Paul,
in a sum Of at least ten (10) per cent
OF the gross amount bid. must accom-
pany each bid Said check shall be made
payable to the Clerk of said Board.
The said Board reserves the right 70
reject any and all bids.
PETER VAN HOVEN.
President Pro Tenn.
Oficial: r. l.. GoRMAN,
Clerk Board OF Public Works.
July 18-19o2-l0t.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
THE GROWING WHEAT.
Rains Have Brought Improvement in Parts
of North Dakota.

.OI NoTIH yOakoLa.
/: WASHINGTON ID. c.. July 21.-The
weather bureaus weekly summary of the
crop conditions says: While the temper
allure in the central valleys, lake region
and Atlantic coast districts, has averaged
considerably below normal. no unfavora BILE
effects from cool weather are apparent
from the reports, except in portions of the
Middle and South Atlantic states, where
growth was checked to some extent The
need of rain continues in portions of the
lower Ohio and central Mississippi valleys.
North Dakota, Northern Minnesota and
Western Texas, and is beginning to be felt
in the Central Gulf states. Oklahoma,
Southwestern Kansas and portions of the
Carolinas. Local storms. in places ac-
companied by hail. proved damaging in the
upper Missouri, upper Mississippi and
Ohio valleys and lake region. Condi-
lions on the Pacific coast were favorable
although light frosts caused slight dam
age in Washington during the early part
of the week
Corn has made favorable advancement
In all districts, but in the principal corn
states it is variable as to size and condi-
ton. being generally small. especially in
the central and eastern districts of the
belt AS result the crop is in good
state Of cultivation, except in the upper
Ohio valley and Middle Atlantic states.
In portions of Indiana, Missouri, South
western Kansas. Arkansas. Oklahoma and
Texas, corn is in need OF rain to greater
or less extent High winds fattened con-
siderable corn in the lake region on the
18th and 18th p.TiHo'J 80. IS-l<-
Winter wheat harvest is practically COM
pleted except in few of the more north
erly states. Weather conditions have
been favorable for threshing, which work
is in progress the yields continuing light.
The reports respecting spring wheat are
not favorable. The late sown in the Red
river valley in Minnesota is believed to be
beyond recovery. while heavy rains have
kept the lowlands in the southern portion
of the state flooded and have caused lodg
ing in the uplands. Rains in the southeast
and extreme northeast portions of North
Dakota have improved the crop, and In
except in the southeastern portion and
in Iowa. where it is unfayorably affected
by rust In Wisconsin and Nebraska and
on the North Pacific coast more favorable
reports are received.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22

Among the Shippers on the market
We're: F. Ferris, S. Jorgenson and H. K
Stearns, Lakota, n. D.: j. Jepson, A.
Faulkner and a. L. Mcdowell, Hutchin-
son; D. Carter and c.. r. Dempsey, Baltic,
Mont; ]. H. Broseth. Shelly; G. w.
Dodge, Madelia; Carver Bjugstadt & Co.,
Tingvall. River Falls, Wis; Riley Bros,
Ellsworth, Wis; +. w Schneider, Alma,
Wis; G. Mold. Nelson, Wis. ~. e. Peter
son. Edinburg. N. D.; ]. Morrison, Belle
Plaine: F. W.. Hubbard. Morristown: .
Little. Kenyon; Len Esser. Glendale; Pine
City Mercantile CO., Pine City, M. Chris
tenson, Sleepy Eye; L. A. Dodge, Truman;
Lowe Bros, Haaley; M. j. Mccarthy
Watkins; j. ]. Way and Lund Bros,
Amery. Wis; j, Olson and Malsed & VIII
liams. Wilmot, S. D.; J. Behlen, Appleton:
Porter Young Co, Chester, iowa; A. Gill
stad Deer Park. Wis.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
c, st P & K c. . . . 2
c. st M & Osssa e. s ii :. 20

Totals ..2 80 SO IS 81 "a
Other Grafns-W Winter wheat. 81; No 3
corn, q No. 4 corn, IL; no grade corn, 5;
ern oats. 15; no grade oats. s: No. rye,
a; No rye. I: No. 8 barley, 1; No. bar
ley. 8; No. barley. 8; no grade barley, 2:
No flax. ~; rejected flax, 49,; no grade
flax, 3.
Cars Inspected Out-No. hard. 8: No.
northern. %; No. 2 northern, Sc; No. 8,
is; rejected, 1; no grade. S: no grade corn,
no grade oats. Z; No. 2 rye /; No bar
ley, 2; no grade barley, l; No. l flax, Z.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22

DULUTH.

DULUTH. Mimi, July 21-wheat was
above yesterday. Low point for the day
was 751sc, which was a trife off from
yesterday. and business was not large.
FAX was unchanged for the day. with a
duh session. Receipts-Wheat. % cars
flax. p; oats, z; rye. 1; barley, H. Ship
ments-Wheat, 23,539 bu; oats. 2.7S3 flax,
1920. Close: No, hard, cash, S51ac: No.
l northerrf sac. No. northern. S2hc; to
arrive, No. 1 hard S2%c: No 1 northern.
size; Mo- northern. 79Ac; No. l north
ern. September. 76Ac; December. 74hc:
fax. cash: 35Ac c.; September 96a4c: Oc-
tober. STAG; November, 97Ac; oaR, Csc;
to arrive, s34c; September. 81 &c; Decem-
Der. 32asc; rye, cash, 48kc; September,
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
Range of .Quotation'
The leading futures ranged as follows:
Open. High. Low. Close
Cash QUOTATIONS. were as follows: Flour

steady and unchanged. Wheat-No. 2 red,
75@77c. Corn-No. 2, 1910; No. 2 yellow.
5OAc. Oats-No. 2 white, 40Ac; No.
white. 37Ac. Rye-No. 2, 49kc. SIC and
choice mailing, 46@5Oc. Flaxseed-No. l,
Gle; No. 1 northwestern. 96c. Timothy
Seed-Prime. SO As. Mess Pork-Per Dbl.
S14. 05@14. 10. Lard-Per 100 lbs, 81 67h@
10 Short Ribs-Sides Qoose) $4,000
So. IS. Shoulders-Dry sailed (boxed), ~
@79sc. Sides-Short clear (boxed). Sh@
Receipts Flour 14,600 bbls; wheat 61,
200 bu: corn, 2S7 1900 bu; oats. 292, 900 bu
rye 1000 bu; barley. 26,400 blu. Shipments
Flour. 1929 bbls; wheat, $4,000 bu;
$500 bu On the produce exchange today
the butter market was easy. Creamery,
17H@19Bc; dairies, 16@18c. Cheese
steady. 10@11kc. Eggs easy at mark, 11Q
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
CHICAGO Produce.

CHICAGO. July 21.-Butter-casy;
creamerics. 15@195ac; diaries. 1871 @1Sc.
Eggs--steady: at max. cases included
l21s@14c. Cheese-New. strong; daisies
l1@11Es; twins. 1O@10Ec: Young Amer
lcas. f1@1lMc. Poultry-Iced, easy;
turkeys, 12c; chickens. 10.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
CONTRACT WORK.
RouIevardIns erotto Street.
Office, of the Board of Public Works,
City of st. Paul Mimi. July II. 1903

City of st. Paul. Mimi, July II, 1903.
Sealed bids will be received by the
Board of Public Works In and for the
corporation of the BCity Of ST. Paul. Min
nesota, at their office in said city, IN
til p. m. on the Goth day Of July, A. D;
1903, for the filling, leveling, improving and
curbing with Kettle River sandstone.
Grotto street, from Paramount avenue to
Iglehart street, in said city. according to
plans and specifications on file In the Of
flee of said Board.
A bond with at least two 90 sureties
in a sum of at least twenty 600 per cent,
or certified check on bank OF st. Pau,
in a sum of at least ten (lO) per cent
of the gross amount bid, must accom-
pany each bid. Said check shall be made
payable to the Clerk of said Board.
The said Board reserves the right 10
reject any and all bids.
PETER VAN HOVEN.
81 President Pro Tenn.
Official: R. Z. GORMAN.
Clerk Board of Public Works.
July 18-1903-10t.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
HJns.

Prices fully steady. Receipts rather
light. Quality about the same as yester
day. Price range, 50. 95 to So. so. Bulk
selling from S.. 25 to IS. So. Common to
good heavy, 81 95@5. 25 Fair mixed
S.. 1906 35. Good light mixed and lights,
SIS. 40 to So go. Closing prices &c lower.
Representative sales:
Hog
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22

reported receipts for the day, by loads. as
follows: c.. G. W., 5; c., M. & st. p, II;
c., ST. p, M. e. O., IA; G. N, 81; c., B.
& G., % Wis. Cent. L; 500 Line, IL; N.
p, 6; c., r. l. 81 P. /; total, go
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
M. DORAM & CO.
Established 1859.
BANKERS AND BROKERS

The oldest strongest and most reliable
house In the Northwest dealing in STOCKS.
Bonds. Grain and Provisions Correspofad.
ence solicited. Members Chicago Board OF
Trade. Germanial Life Insurance Bidg.,
St. Paul. MINI.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
). New York Mining Stocks
-OHereG. xEX-D1V.
IL, New York Money.

1OII0K GU Al1A-I1IV. ~
1, New York Money.
NEW YORK. July 21.-Money on call.
steady; lowest per cent; highest, 3;
ruling rate, 2%; last loan, 2; closing
offered. 2. Time money firm; sixty days,
Az per cent; ninety days. 5; six months,
sterling exchange weaker with actual
business in bankers bills at $4.S6.30@
4.S635 for demand and at $4.S4.05@15
for sixty days bills. Posted rates, 435
and $4.87%. Commercial bills, $4S4 bar
silver, 55c; Mexican dollars, 42%c: gov
eminent bonds, steady; railroad bonds,
irregular. ~ lsI
(, .a,y a Bank GIearlngs.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
Midway Horse Market.

Minnesota Transfer, St. Paul, Mimi
Barrett & Zimmerman report that the
midsummer quietness characterizes all
branches Of the market. Sales were re-
stricted to the prime offerings, with prac-
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
VIII improvements Be Cut Off

Denials were forthcoming of some of the
recent rumors of additional borrowing by
other corporations. but the possibility be-
gan to be canvassed that Improvement
would be cut off, except where necessary
to be carried out because already entered
upon, rather than venture on temporary
loans in the present stringency of the
money market. News of railroad earn
ings was favorable, the Louisville & Nash
vile and the Illinois Central making good
returns of net earnings for June. The
action Of the Erie directors in raising
the semi-annual dividend rate on the
first preferred from IL to 2 per cent was
not known until after the market closed.
but it was confidently expected. A pre-
vious expectation that the second pre-
ferred stock would get a dividend had
been abandoned apparently, as that stock
was weak. @+''t -;
There were weak spots in the bond
market. but the market as whole was
irregular. Total sales. par value, $685.
900. United States bonds were all un-
changed on the last call. 5
CLOSING LIST
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
PRODUCE AND FRUIT.
Ruling Prices at Yesterdays Meeting Of
the ST. Paul Commission Men.

ST. PAUL, July 21.-The following
open market at todays meeting OF the
Produce exchange established the follow
ing prices:
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
HAY. GRAIN AND FEED.

Quotations Established In Open Trade on
the st. Paul Board.
ST. PAUL, July 21.-The following
prices were established In today's trade.
ReceiDts-HaV 9 carS<
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22

northern. Sane; to arrive in five days.
IKE DAYS, s2ho; No. 8 white oats, 321s a
Sic; No. oats. 30@3211c; No. 3 yellow
corn, 51@52c; No. 8 corn, 5e@51c; No. 4
corn, 49950c; rye. 46@47c: barley. 36q46c;
TENDER, 96Ac; faxseed to arrive, 94%c.
Flour-Something of Improvement was
reported in the general demand, but bust
ness on the whole is moderate. A change
for the better in cash wheat will mean
the maintenance of -four prices in full,
but any further sagging in wheat is like
" to find reflection in -four Shipments,
1885 bbls. Prices for tlrst patssEn5 St sI IN
second patents. 81 .4O@4.5o: first clears,
So. 50@3 so; second clears, 50 1908. 30.
State Grain inspection.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
MINNEAPOLIS.

Minneapolis The bears in wheat sue
ceeded in getting the September option
down to 73Ac where it stuck awhile.
and then reacted sharply. There was
nothing in the news to bring on reaction
any more than there was anything to
cause the early dip. 1t was a manipu-,
lative market giving way on, drives and
rallying again when the shorts were
scared little and ready to run in. By
1870 September had worked back up up to
was no Increase in trade and little APP
parent increase In outside interest.
Weather reports and crop news contin-
ued favorable to the bears. Receipts. 200
cars against 1872 last year. Near the close
the market was strong but on early ad-
vances there was selling enough to push
it down again but September finally sold
to 74Mc, and closed at 74%e. The cash
market was quiet around S3c for NO l
northern No. northern sold from SING
to soc. Millers bought some wheat but
showed rather an Indifferent feeling on
the whole The following was the range
Of prices: o,.,
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
Railroads Rise Nicely.

But the market seemed to take these
rumors with a good deal of equanimity
of standard railroad stocks, so that
prices IN many instances rose at one time
point or more over last night. New York
loan crowd on the exchange, which caus-
ed an impression that a considerable short
interest had been built up in the stock.
The shorts were an element in the buy
ing at other points
There was little in the days news to
explain the action of the market. The
crops was considered IeNs than reassuring
as to the spring wheat SITUATION, and the
action of the wheat market on the publ
cation Of the bulletin confirmed this i'm
preston. The only notable effect in the
securities market was sharp decline in
the Burlington joint As Great Northern
preferred. however, jumped points, in
face of the general movement of the mar
kot g
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
Sheep,

Lower tnan Friday of last week; very
few lambs selling above $5.75; So so about
the limit on ewes; stockers dull. Repre-
sentative sales:
No. Kind. Weight Price
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
SEVERE SLUMP IN STEEL
THIS COSTS THE STOCK MARKET
ABOUT ALL PREVIOUS GAINS.
Until the Final Hours the Market Makes
Good Stand Against the Chronic
Liquidation-Severai Speciaities Also
Score Losses of Sensational Scope.

NEW YORK, July 21.-The stock mar
ket made a pretty good stand during the
greater part of the day against scattered
liquidation of the same kind as that Of
yesterday. But the slump in the United
States Steel stocks at the end Of the day
cost the market about all of the gains
that had been achieved in the course Of
the days trading. Other specialties scor-
ed losses of fairly sensational proper
lions, but they were with no such in
fiuence upon sentiment as the headlong
downward plunge of United States Steel
stocks. The common sold at % and the
preferred, with the quarterly dividend of
IN per cent deducted since Saturday.
sold at 20, making extreme declines Of
3B for the common and AZ for the pre-
ferred In the May 9th panic of 1901 the
common sold at "a and the preferred at SO.
Today's drop was in the face of open
buying by banking interests, which con-
Quoted the corporations syndicate trans
actions. The financial authorities of the
corporation decline to be officially quoted
as to the truth of current rumors that
the next dividend on the common stock
was to be passed. The usual rumors cir
cuated also that the urgent liquidation
was due to financial embarrassment by
this or the other important capitalist.
The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-22
HOGS TAKE SMALL DROP
MARKET. OPENED STEADY, BUT
CLOSED Sc LOWER
Cattle Receipts NEUTRALITY-SUSPICIOUS. Cat
tie Sell at Steady Prices-Stock and
Feeding Cattle Steady to strons-Sheep
and Lambs 25c Lower Than Last Fri
daV

SOUTH ST. PAUL, Mimi. July 21.--
Estimated receipts at the Union stock
yards today: Cattle, S25; calves, $50; hogs,
2,325; sheep, $50; horses, So; cars 80.
from jan. /, fso$ to date. as 81 compared
with the same period in 1902:
Year. Cattle. Calves. Hogs. Sheep. Cars.
1903 49, 61 20, $50 430, 905 1919, 431 1926
Inc. -. 1O35 1903 $500 31,OS5 1,1S5
The following table shows the receipts
thus far in July. 1903, as compared with
Year. Cattle. Calves. Hogs. Sheep Cars.
1903 -. 5,0S2 1505 81, 100 ,265 6s3
1902 -. $3.50 1906 27,526 1923 Ut
Dec " 1878 101 1886 .. "a
The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1903-08-11
NORTH CAROLINA STATE NORMAL and INDUSTRIAL COLLEOF

Literary, classical Scientific, Pedagogical
Commercial, Domestic Science, Manual raintng '""" uurmd
Five courses leading to Diplomas Advanced coursesl eadmgtO Degrees en milton and@ @
Practice and Observation School Faculty numbers 49, BOard,Ea unmy 0 twelfth az
for use of b etc. $40 year. For nonresident Of the SGe oTTeetuhonsg
nual sesstOnb begins September 49, 1905. To secureb oardtn dorm n4lSTT %m those delnsS
competent teachers and stenographers For catalogue n other mOrm
= CHARLES D. MCTVER, President, Greensboro NJ"
The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1903-08-11

Littleton Female College, the adj
vertisement of which appears in this
issue of our paper, is a very flourish
ing institution with a large patron
age, and is doing a great work for
the education of young women.
1t is a select school of the higher
class where young ladies find a real
home.
We think it will pay any young
lady who may think of going off to
school to make inquiry into the mer-
its of this college.
The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1903-08-11
Our Washington Letter.
editor of The Progressive Farmer:

hatch of indictments and still more
expected. The last lot of inc ct
ments returned included seven, nam
ing August W. Machen, former gen
eral superintendent of free delivery
and sever of his confederates. The
list includes William Gordon CraW-
ford. of the Postal Device
and Lock Company, and member OF
one of Washington's most exclusive
clubs, William G. Long, formerly OF
Ohio and popularity known as "Cllft
Long," a protege of Senator Hanna
and former representative OF Abner
Mckinley in several deals, John l..
Cupper, mayor of Lockheaven, Pa,
Leopold J. Stern, of Baltimore, Maui
rice Runkle, of New York, the Lo-
renzes and Thomas W. McGregor.
The evidence presented to the grand
Jury showed that Machen had award
ed various postal contracts whereby
he and his confederates had divided
illegal profits aggregating not less
than $4,000. Every mail bag car
ried by a letter carrier (and there
are over 10000 carriers), every regis
tered letter case, every painted letter
box had paid itssshare of tribute to
this "Prince of Grafters."
"THE OHIO GANG"
Postal officials conducting the in
vestigation regard this as the most
important haul they have yet made.
They say that there has long existed
in Washington an "Ohio gang" head
ed by Machen and participated in by
"Clif" Long which has made a prac-
tice of holding up the Government
and that now they have most of the
offenders. Headquarters for the
gang was a saloon and restaurant kept
by an Ohioan who formerly kept a
similar establishment at Columbus
There Machen and Beavers, Abne1
Mckinley and Cliff Long and Other
Ohioans, III. H. Rand, confidential
clerk to the Postmaster General
Thomas Hedges, recently discharged
for classifying his pay accounts, anC
at least n prominent Senator, wer
wont to gather and spend their i'll
gotten gains. Now they believe the,
have broken up the gang.
PROPOSED FINANCIAL LEGISLATION
Much has been written ON tn
subject of financial legislation an
yet comparatively few people under
stand the end it is desired to al
tain. Under existing circumstance
there is but a moderate demand fo
money throughout the country e.
cept when the time comes to NOV
the crops. Ordinarily, peopl
throughout the country depos
their funds in banks and these j
turn forward it to New York whe1
it can usually be loaned for at lea.
a fair rate of interest. When, hoy
ever, the harvest comes, most Peep
want to draw their money. Westel
banks call on their eastern corr
spondents to forward money and Il
result is a calling in of loans and
The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1903-08-11

while the eastern DanKs 4AmJ
seize the opportunity to charge an
e~xhorbitant rate of interest. Inc
general result is to hamper trade.
Now it is claimed by fnanciers thai
If a scheme can be devised whereby
an elastic currency" can be pro-
vided. one that will expand to meet
an emergency and contract when the
emergency is passed, a material ben-
eft will be effected.
There have been numerous
schemes devised to provide against
a shortage of currency. The Aid
rich bill of last session, by granting
to the banks the privilege of depos-
fling State, county and municipal
bonds with the treasury and issuing
bank-notes against such deposits
would have provided for an increased
| CURRENCY, but there was no Prov
sion which would compel the retire
ment of such increased currency
when the emergency was passed.
The simplest device thus far offered
has for it's author Secretary Shaw.
It would authorize national banks
TO issue bank-notes equal to 25 per
cent of their capital stock, subject
to a tax of 5 per cent per annum'
Thus, it is claimed, the banks could
issue currency when there was ar
urgency demand but would promptly
retire it when that demand hao
passed for the reason that the 5 pei
cent tax would make it improbable
to maintain such a currency except
when rates of interest were high
Such a currency could be put into
circulation almost instantaneOusly
in all parts of the country, and, b!
a UNIQUE and simple device, as cas-
ily retired when the emergency ha'
passed. There is no doubt but tina
this proposition will receive careful
consideration by the next Congress
MILLER AND THE PRINTERS UNION
Public Printer Palmer is still oc
=. cupied with the examination of tn
!. charges of the Bookbinders' Unio
] against William Miller, the binde
who was expelled by the union, di:
! charged by Palmer for that reason
I and subsequently reipstated by til
q President because his discharge ha
been illegal. There is much impat
v ence with the slowness of Mr.. Pain
er's procedure, but he is not youni
and the President has enjoined c
him a careful examination of tt
e facts with a view to an entirely jul
d decision. Whatever that decisic
may be, it will not prevent the tho
ough investigation of the methods
! the Government Printing Ohc
IS which is to follow the disposal
n Miller's case, and which will doub
less result in efecting great econ
20 mics to the Government. This i
= vestigation Will be confded to Seer
Le tary Cortelyou, and every n wi
it knows him knows that he will be So
isfed with no superficial ~investig
20 ton. A. B. M.
Washington, D. O., August 8, 1916