Congresshas adjourned, and the members have flittedaway asit by magic. The World's Fair people wanted a loan vf85,000,000, but they. finally: concluded to. accept: a. gift of $2,500,000 instead. They had a hard fight tw get.even that. Finally the Bill" was Fncrison othe capital, after. which he sed, and signed immediately by President started on a special train to join his wife, Phe $2,500,000 may be coined into souvenir half-dollars, for which some enterprise 5 is of $150 have been made: for the first arties have made an offer of $4,000,000.
coins minted. Tt hasbeen too hot for activi in anything of late, and while there dance of: political atamunition in th papers there is very little political ne enow cruiser Columbia, recently launched from Cramp's shipyard at Philadelphia, is a new type of vessel, and deserves some comment. Secretary Tracy saysthatit unites suflicie: lament with complete protection against light guns to a high speed cal capacity hitherto intended for purposes of war or commerce, and making her a match for the swiftest merchant ship, armed or unarmed, as well astor themest advanced type of modern commerce destroyers found abroad." There wrethreoseteof triple-expansion engines, driving three screws, two of which are placed in the usual position of twin screws, the third amidships and about 16 feet abaft the others. With the single screw a speed of fifteen knots, with the three working together twenty-two knots in un orditnry sea, iscasily obtained. The engines are capable of developing 23,000 horse-power (indicated), The coal capacity is 2,000 tons, with which the vessel can steam 25,000 miles, without re-coaling. The dimensions ate, Iad-line length 400 feet, beam 58 feet, mean draught 23 feot, with coal bunkers full 26 feet. The ventilating. arrangements and electric lighting machinery are the best known, and the atticers and crew have exceptionally spacious and comfortable accommodations. The above data are said to be from the navy department, but as regards the feat of steaming 25,000 miles with 2,000 tons of coal, it should be suid that this is only done on paper. In other words, it is result of calculations made by a traditional method adopted by naval enginers in Eng-Tand as well as in the United States, body can tell why such thing Dut it is necessary to cut down the 25,000 miles by one-half, or more, in order to get the results to be anticipated in practice.
Thetinaucialsituation inthe United States the present time " subject of groat i terest tu the business world, and especially ies having a silver currency. Certain of the financial newspapers abroad, especially the Statist.and the Economist of Londo, have been discussing the situation this country in' a manner to create trust of American: sevuriti true that the conditions on this side. are not all that could be desired at the present time, partly owing to our silver coins and the unusual. demand for goid abroad; the prospects are by no moans so discourage ing as our British fronds have represented them. 'They neglect to take full account of the enormous resources and productiveness of this country. It is true enough that' London has been selling American stocks for the past two years quite freely, but this fact, while it may indicate a want of confidence in London, does not signify that a similar feeling has existed in New York. The fact is, we have bought up the stucks as fast as they were offered, and at the time of the failure of Baring Bros. when large blocks were suddenly unloaded upon us, they were all picked up without the slightest hesitation, and we could have appropriated double the quantity in the same way. Naturally enough, the pessimistic selling brought down prices, but only tempo:
twenty active atocksin New York was 91°78. In December this fell to 76°77 on account of large sales. During the next year, 1891, the prices fluctuated between 80 and 89, until December, when they rose to 92°95. These figures show that there is no distrust here of our own securities, There seems to-be some misapprehension a8.to. the.probable result. of dur ovitiage of yer and exportation of gold. The: price of silver has lately declined to 823 cents. It is obvious, therefore, that-the purchase of 4.500,000 ounces each month by this government is not-sufficient to sustain the price in the market, But nobody in his senses ever supposed: it would, The policy, is.a ery: bad: one in every. respect, but if not carried too far it will not seriously interfere with business, because the country ie able to maintain the value of the silver dollar foruseat home. We are no longer debtor Our silver money is only for use our own country, and' thus fant is accepted ona par with gold, -When our own people begin talose faith inthe government'sability to pay gold on demand for ita si lohars, is then, but not; before, may we anticipate disaster, There is another element, which is that the demand for silver in India depends very much upon the annual crop production. This year being " season of shortage: in grain in that country, less silver is required there for exchanges, hence the market price lines. We may expect to see much lower pricesforsilver before long. Our government pure! must soon come to anend. The greatest buyer out of the market, the price must decline very rapidly, unless: the conditions, are anticipated by the producers. The effect upon the banks of India China is likely to be very serio they have assets in silver and liabilities in gold, But ao far as this country is concerned, if every ounce of silver held in the Proasury against silver certificates were lost, the wealth and resources of the country are sufficient to sustain our credit. This is a fact not fully appreciated by writers abroad; but tal importance in any discussion or criticism of our financial policy. I have not a word to offer in defence of the policy itself. It was a compromise in the first place, the best that could be made at the time, and the it has. been continued too long already, but not long enough to seriously embarrass the nation.
Owing to the serious depreciation in the value of silver, and the futile efforts of the India bankers to maintain the rate of exchange, it is probable that Englan' will be disposed to regard the coming Monetary Conference with more interest than hitherto. The only good, 80 far as I can see likely to result.from the Conference is, that it will doubtless.throw a clearer light upon. the monetary. relation: between gold and silver, 'a..matter..which is. just now very much beclouded by the specious, but unsound, arguments of the double standard advocates. The only way: to establish and maintain-a parity between gold and silver is by international control of the mining eland output of silver, which is practically impossible. have been,—ameuutingts about $32,000,000:
As regards our gold exports, large as th
during the last two years,—the fact is over-. looked that this is less than: half of our gold production. The comparatively. small amount of gold just now in the U.S. Treasury: as already mentioned in one. of my. recent letters is really a matter of no con~ sequence... This gold will come back to us later in the year, and London will again be a good buyer of our securities as soon as the little flurry.of distrust is over, which will be, perhaps, in the course of another month. One fact which should. have its influence upon the judgment of our foreign critics is this, that during' the past twenty. years, this country: has " off about,000' million: dollars of war debt. The that so easily is not likely to desert us, whatever mistekés our political financiers may make, in the near future, But there reason: to' anticipate. any further unwise: legislation in regard to coinage, When the coinage question comes forward again it will be as a subject of great national importance, freed from, the influences; of local politics and a. Presidential campaign. The good sense of the people will then find clear expression, to the discomfiture of the demagogues in Congress, who, while they talk very. loud, are not so influential. as they seem to be. The repeal of our silver coinage law way be confidently anticipated next winter.
There is a rumour that the presen} Chinese- minister, Mr. Tsui, is to. be recalled, and that a former secretary of legation is tobe his successor. It. is said. that one: reason for Mr. Teui's recall was connected. with the scheme o bank, in w, manner. object government:
'A Washington man, noted as a bicyclist, has. made a record. for himself quarter miles, handle—bars, pedals or saddle." Without the attachments mentioned I herdly think there could be anything left of, the machine but a wheel, and just how " m an attach himself to rolling wheel is more than I propose to. explain my story.
Before these lines are in be on the top of Mount Washi fat an elevation. of 6,300 feet, the largest and highest search-light in. the world, "It will be visible at a distance of 150 miles. Newspapers can be read at a distance of ix miles. By means of an instrument the Morse system of dots and dashes will rout of the great thirty-inch lone,
be shown, and telegrams can be thus flashed over the surrounding country.
Washington, D.C. 16th August. tories of the records. of crime, a double Among the strange and unsolved mys-
murder which took place recently at Fall River, Mass., bids fair to have a place. Andrew J, Borden, a reputable and wealthy citizen, seventy-six years of age, and. his wife, were murdered by blows upon: the head with a hatchet of some kind, in broad daylight, and no trace of the murderer or motive for the deed has been discovered. So far as can be learned only two other mins were in the house at the time, the wrighter Lizzie and the servant The latter is not implicated in the in any but suspicion fastens itself upon the daughter, although. it, is only sustained by ry of most' remarkable, but purely circumstantial, evidence. It'is almost incredible tha in-or out of inmates orby neighbours, yet the implement used by the murderer has not. been found. There was no noise heard by anybody, not even that caused by the falling of Mrs.
'There was an. interval of.time, Borden, who was a lange and heary person. amore tan an hour, between the two docts, Mr. Borden was killed in the parlour, Mrs. Borden in a bed-room up stairs.' Both died instantly; without a struggle, indicating that the assailant was. either: very stealthy in approaching the victims, or else that the latter had no suspicion of murder-on designs.
Miss Lizzie tells a story which does not accord strictly with the facts since observed. She says that her mother received a note from a neighbour early in the morning aking. her to call, as she was ill, and. that her mother went out. in response: to, the note before' Miss Lizzie came downstairs. The note has not been found, nor can.any person she discovered in the town..who acknowledges having written such a-nero,
Text read from the printed page and cleaned; old type leaves the occasional error.