Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1907-11-15
FRIDAY, NOVEMBER IS, 1907.

negro and carried him to jail where
he was recognized as Elijah Mayhem.
a well known butcher Of the town.
The night before similar holdup took
place, but the criminal was not appre-
hended. .'.
- Columbia special to Charlotte OBJ
server: Postmaster Higgins Of Colum-
bia, and Internal Revenue Collector
Micah Jenkins have both said that IL
the present financial stringency keeps
up they will petition the Federal goy-
eminent to send them the cash TO
meet the pay rolls, which total over
900 monthly, instead of paying of
as usual In checks, this Is In order to-
relieve the situation in this state; but
the government gave evidence IN ad-
vices received today that It win not
lend assistance down this way, Now
whether the request Of Messrs. Hug
gins and Jenkins, IL made, will be
granted, cannot be said. But 1t Is
fact that the government is not itself
accepting checks. The two local ac-
tive repositories of the government in
this city. the Carolina National Bank
and the Palmetto National Bank, have
been required by the government to
ship currency to Washington for the
balances due there, instead Of checks
as heretofore. In the past 1t has. been
the custom to send checks on New
York for currency due the Federal
treasury, but Washington officials say
that New York is short Of currency
and is not shipping any and that,
therefore, gold or currency must be-
Forthcoming from Columbia. These
two repositories are used by the post
office and the revenue office The rev.
enue collections In this state amount
to about half million dollars annual
ly and the receipts from the sale Of
postal money orders and other such
items amount to several thousand dol
lars a day. These Columbia banks are
repositories for these funds, not only
for the Columbia postoffice but for the
state generally. Now, strictly speak
ing, the Federal government never
takes checks for these balances. The
method Is when these Columbia banks
are called upon for balances they wire
their New York connections to turn the
cash over to the government. and
charge Columbia with 1t. On receiving
one of these notices from a Columbia
bank a few days ago, the New York
bank instead Of shipping the currency,
went out and bought the cash in the
open market, paying premium and
nearly per cent, which premium was
charged to the Columbia bank. So the
Columbia banks have the choice be-
.ween shipping the currency or gold
or paying the premium. And as New
York has notified its connections that
| it is not in position to pay sort The
cash. there Is nothing left for the.
southern banks acting as government
repositories to- do but to- ship the cash.
The issuance of clearinghouse, certi-
ficates by Columbia and Charleston
and several smaller South Carolina,
cities has greatly loosened up the SIT
uation, not only In Columbia itself but
throughout the state. These certih-,
Gates are being freely used as currency
in practically all the cities and towns
Of the state by this time, and they are
proving an effective and acceptable
remedy. But while this move has as
sisted In the movement Of cotton, It
has not resulted In helping the farm
ers to hold their cotton. The banks In
urgent need Of cash are calling In their
loans, which is forcing the sale Of cot
ton, which, according to the view of
even intelligent farmers, Is part ofsa
deep-laid conspiracy to depress the
price. ' .lf..