Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1913-06-10

When the last senator ndu lesu-
fed yesterday before the lobby inVes-
tigators, 1t was predicted at the capi.
tol that the investigators report
would uphold the presidents declara-
ton that a powerful influence was al
work attempting to affect congress
on the tariff. Strong restrictive leg
islation will probably be recommend
ed. President Wilson told callers DUR
ing the day he expected the lobby In
yestigation would have beneficial re-
suits through publicity given condi-
tions surrounding tariff making but
refused to comment on Senator Town
sends charges in reference to the
presidents using influence on legis-
lstors. Senator Sutherland told the
investigators he owned sugar stock
but no wool interest. He declared he'd
vote for a reasonable duty on sugar
and wool. He never knew any I'M
proper attempts to influence ieglsla-
ton in congress Senator Reed knew
of no improper lobbying. He declar-
ed he got kilograms from horse and
mule dealers urging sugar duty TO
preserve Missouri's mule industry. H
charged that sugar planters were
seeking to influence men from whom
they bought mules. He believed sys-
tenn growing, by which attempts were
made to reach legislators indirectly
through business connections.
Greenyille special Of June s to
Spartanburg Herald: Hugh B. Buist,
a prominent citizen of this county,
was found dead in bed this morning
at his home. He left a note, saying
that he had determined to die ana
leaving directions as to the disposi-
ton Of his estate. Mr.. Buist was 62
years old and a man Of considerable
property, most of his wealth being
represented in valuable real estate.
His wife died about a year ago, leav-
ing no children. His death came as
a great shock to many friends In this
city. Mr.. Buist was the son OF the
Rev. E. T. Buist, who was pastor for
many years of the First Presby-
terian church Of this city. He Is
survived by two sisters, Mrs. Emma
Anderson, Of Spartanburg county, and
Mrs. Lula Buist Clyde, of Greenville.
and a brother, Prof. G. A. Buist, or
Furman university. Mr.. Buist was
member of the South Carolina con-
stitutional convention, which met IN
1895, being q representative from
Greenville county in that gathering:
He was also member OF the general
assembly from Greenville county for
several terms, and when winthrop
college was established he accepted a
position in the chair Of horticulture
in that institution. He returned to
Greenville from the Winthrop position
about five or six years ago and since
that time was active in efforts to pre-
serve and beautify the trees and
park facilities in and around Green
Vile.
do fo1
of an administration currency bill
have been agreed upon, there are es-
sential differences, 1t has developed,
between Secretary McAdoo and con-
gressional leaders as to new issues OF
currency. These relate primarily, 1t is
said, to the question whether the gov
ernment should issue all the paper
money or whether the proposed re-
serve associations should be author
lied to issue notes in place of present
national bank notes, permitting all OF
the present issues of the United States
currency to stand as at present. The
obstacles, 1t is declared, are no means
insuperable and an effort will be made
to compose the differences this week.
Secretary McAdoo's tentative sug-
gestions, 1t Is understood, would have
the government issue all currency.
He would retire the present issue of
gold certificates, amounting to $l,O79,-
100000 and the national bank notes,
amounting to $750,0000,000. He
would make all of the paper money
United States notes. maintaining the
present issue Of such notes and re-
placing the notes by an increased
number Of United States notes. Back
Of these notes would be gold, based
on a certain percentage Of the issue
which has not yet been determined.
Chairman Glass Of the house banking
and currency committee on the other
hand, it is said, would not disturb
the present issue of gold certificates
or any other United States notes but
would gradually retire the reserve as
sociations to issue currency, based
upon the assets of the membership
banks to take the place Of the nation
al bank notes. Secretary McAdoo's
plan is designed to permit greater
participation Of the Federal govern
ment in the operations Of the reserve
associations than other suggestions
proposed. Under his plan, there would
be about Is regional reserve associ-
ations with a sub-treasury of the Uni
ted States in charge Of each, and a
central bureau in the treasury depart
ment at Washington, whose members
would be appointed largely by the
president. Under other plans the
voice of the banks would be greater
in the management of the reserve as
ISOLATION and there would be central
commission in Washington upon which
the banks would be largely repre-
sented. All schemes Of reform would
provide for elasticity by permitting
the proposel reserve associations to
rediscount commercial paper.
New York, June 8: The pangs of
financial indigestion continued to af-
feet stock markets both here and
abroad throughout the week. The pro-
cess of readjustment, while painful,
began to bring signs of wholesome re-
suits towards the end of the week
The same general causes were opera
tive as for some time back, centering
in the Balkan war with its outright
destruction of capital, interruption of
banking and credit facilities and driv-
ing of free capital into hiding by the
alarms created. The most active fac
tor in the weeks special weakness
seemed to be the uneXected announce
ment of fresh imperial German and
Prussian loans of over $56,OOO,000 to
be issued on June II. The new an
nouncement caused forebodings. Ber-
lin started a fresh liquidating move
ment and drew gold not only from
open London but from the Bank OF
England. The resulting rise in private
discount rates in London left small
prospect of reduction in the Bank OF
England rate for the rest of the year
The financial situation in Canada
came in for consideration on account
of large borrowings for Canadian ac-
count in connection with rapid devel-
opment 1t became manifest. too, that
our own banking authorities saw the
necessity of further readjustment OF
credits. with no relief in sight for the
strained position abroad. The deter
mined purpose of the banks to keep
LIQUID resources in hand was shown in
the discouragement offered to all at
tempts at borrowing for new enter
prises, as we'll as in the retirement of
existing loans. Successive days of raw