The San Francisco Call. Newspaper, May 24, 1895, Page 3

THE SAN FRANCISCO CALL, FRIDAY, MAY 24, 1895. WANT SOUND MONEY, Convention of Business Men of the South. NOT FOR SILVER ALONE. They Are Afraid of Descending to the Level of China and Mexico. CARLISLE MAKES A GOLD TALK. Says He Opposes Destroying the Nation’s Credit at Home and Abroad. MEMPHIS, Texx., May 23.—Upward of 8000 people were present at the Audito- rium at 2:15 o’clock, when Chairman W. J. Crawford called the convention to order. While the gathering was effecting an organization and getting down to busi- ness the crowd gradually filled the vacant seats, and by the time Secretary Carlisle began h ress the large hall was com- ed. Mr. Crawford, in his capa- chairman of the committee of fifteen, appointed by the associated mercantile bodies of Memphis, under whose auspices the convention is held, called the meeting to order. Ricnhard H. Clark of Alabama presented the name of Congressman Catchings for permanent chairman in a neat and highly complimentary speech. This convention, said Mr. Clark, was an evidence that the people do not believe in debased money and do not want to be dragged down to the level of Mexico and China. The people represented in this convention believed in the t and equitable use of silverasa money metal, but they would not deliver the country to a syndicate of mine-owners, or place in jeopardy the business of the country because of a craze—a condition of public sentiment—which he likened to a prairie fire, which would feed upon chaff and soon burn out. The leaders in the silver movement were the men who had taken up in succession all the political and economic heresies that had been before the people in the past de- cade. The present outcry he likened to the extreme doctrines advocated by the Populists in recent years, and their falla- cies, he declared, wou!d soon be buried in empty warehouses. He urged confidence in the judgment and good sense of the Southern people. Two-thirds of the product of that section must be sold in foreign counries and paid forin the money of the world. The prices of their products were fixed in the markets of the world, where no American legislation can puta fictitious value on silver. Mr. Clarke eulogized President Cleve- land and Secretary Carlisle, his remarks ing the first outburst of enthusiasm of the convention. The cheering at the mention of the President’s name was par- ticularly hearty and protracted. In con- n he presented the name of Con- gressman Catchings for permanent chair- man of the convention, lauding the gentle- man’s public record on the money ques- tion and assuring the convention of his eminent fitness for the position of presid- ing officer. The selection of Mr. Catchings was made by a unanimous viva voce vote, and the Congressman accepted the honor in a graceful speech. He said: Gentlemen of the Convention: There come times in the liie of a man when words fail him when he wishes to express the emotions by which he is moved. Such a time has now crossed my path. Could I live forever I could not express to my friend from Alabama the im- pression which his werm words have left within me. Gentlemen, in my judgment, no convention ever assembled for a nobler or higher purpose than this. Brought together from almost every Southern State, coming from every walk in life, representing as you do all vocations, industries and conditions of life, I speak the truth when I say that not a man has come here to advance & personal end or a selfish purpose. Believing that the free, independent cainage of silver at the 16 to 1 ratio would be disastrous to all private and public interests, we have laid aside our private affairs for the time being to take counsel together to con- sider what will be best to prevent it. The character of the delegates to this convention is far beyond the reach of captious criticism and adverse comment. This body is composed of the great mass of -honest, intelligent, patriotic citizens. If we are right we are not only right now, but we are eternally right. We have assembled to give testimony to the faith that isin us. Wehave been misrepresented from one end of the land to the other; epithets have been hurled against us; we have been charged with entertaining views which we scorn and disdain. It is said, for instance, that we are monometallists. Let us here and now place the lie upon that charge. [Applause.] Ithas been said again that we seek to 8o con- tract the currency that prices will fall. Let us stamp thatalso asalie. Let us pass a seriesof resolutions that will be our declarations of faith, and then challenge any man to put other words on our lips. Let us, when this conven- tion shall have adopted these resolutions, ad- journ and go home with the determination to stand by them. Let us organize ourselves into & movement militant and not aquiescent, for, believing as we do, we would be recreant to our Auty if we failed at all times to let our views be known. Let us nail our colors to the masthead and let theold ship go on her course regardless of the obstacles that we may encounter, hay- ing faith that with the truth as guide we will reach our destination safely. Gentlemen of the convention, we should take heart at the fact that our views are sanc- tioned by all the great people of this country outside of political life. Suppose we adopted the free coinage of silverat a ratio of 16 to 1 it will bring about silver monometallism pure and simple. When the simple issue is put before the people 1 do not believe they would be will- ing to put this country on a silver basis. After the selection of G.C. Matthews, associate editor of the Commercial Appeal, as secretary, a committee on resolutions was appointed, one delegate from each of the States represented being made. Secretary of the Treasury John G. Car- lisle was then introduced by Chairman Catchings. When the distinguished Ken- tuckian stepped to the front of the stage the audience rose to its feet and cheered enthusiastically for several moments. After quiet had been restored the Secre- tary spoke as follows: Mr. President and Gentlemen of the Conven- tion: I congratulate myself upon my good fortune in having the opportunity to appear before this assemblage of Southern business men, and I congratulate the people of the South upon their good fortune in being able to send here s0 many real representatives of their great industrial and commercial in- terests. ‘The proposition to revolutionize our mone- tary system and thus destroy the credit of the Government and the people at home and abroad, violate the obligations of all contracts, unsettle all exchangeable values, reduce the wages of labor, expel capital from the country end seriously obstruct the trade of our people among themselves and with the peoples of other countries, is one which challenges the intelligence, patriotism and commereial honor of every man to whom it is addressed. No matter what may be the real purposes and mo- tives of those who make the proposition to legalize the free and unlimited coinage of sil- ver at the ratio of 16 to 1, these are the conse- quences involyed in their scheme, and in my opinion they cannot be avoided if it should be adopted. In no part of the country will the consequences of such a policy prove more in- jurious to the mesterful interests of the people then in the undeveloped and progressive South. The use of credit in the form of bank notes, checks, bills and other evidences of debt has so increased in modern times that in all highly { organized commercial communities the use of coin, except in making change, hasbeen almost entirely dispensed with. The percentage of coin actively employed in conducting business in this country is so small that it is almostin- apprecizble; so small, in fact, that the Cisuse in our transactions would not be felt if we had & substitute for or a paperrepresentative of the subsidiary pieces. Although we have the gold standard. or measure of value, in this country, our actual stock of gold bullion and coin amounts to only ebout one-third of our actual currency—a con- dition of affairs inconceivablea few centuries 5,000,000 in gold, in full legal-tender silver, $149,- reasury notesissued in the pur- silver bullion, $209,719,850 in national bank notes, and 76,169,569 in subsiaiary silver coin, making in all $1,804,707,763, exclusive of the minor coins,and every dollar of this vast volume of currency is kept equal in value to the standard established by law. This is the financial condition which the advocates of iree coinage &t the ratio of 16 to 1 propose to revolutionize &t once by a change in the standard of value,so that it would require about double the amount of currency required now to perform the same service in the ex- change of commodities. For a long time credit, which constitutes by far the most im- portant factor in our financial and commercial transactions, would be substantially destroyed by the confusion and uncertainty necessarily following such a great and sudden change in our monetary system. It is contended by a large number of the advocates of free coinage that the effect of their policy would establish what they call bimetal- lism and a double standard. I confess my in- ability to understand what is really meant Dby a double standard or measure of value; the idea is incomprehensible to my mind, he- cause I cannot conceive how it is possible to have two different legal and authoritative measures of the same thing in use at the same time; & pound weighing sixteen ounces and a pound weighing eight ounces. both declared by law legal pounds. Instead of using both gold and silver as we do now in larger amounts than ever before in our history, we should in- stantly expel the more valuable metal from the country and make the other the sole basis of our currency. We have now practically bi- metallism—the use of both metals as money; weshould have then practical monometallism— the use of only one metal as money. This is a conclusion based on facts and established by the experience of all nations in all ages. The establishment of & silver standard here could not possibly increase the price of cotton or wheat, orany other American product in Liverpool, Paris or Berlin, whatever effect it might have upon the nominal price in this country. The only effect would be that the exchange would be doubled, and the pound sterling, instead of being worth $4.866 in our currency as it is now, would be worth $9.732, and when our people wanted to make a remit. tance to pay & debt abroad they would have to pay twice as much in our money for the same number of pounds as they pay now, while the foreigner who wanted to make a remittance to pay a debt here would only pay half as much in his money for the same number of dollars as he pays now. In addition to the risk of a fall in the price of the products abroad, he must incur the risk of a rise in the price of silver between the time of his purchase and the time when he received the proceeds of his sale, for if silver rises in the meantime he may not get back as many dollars as he paid out. When silver is worth 60 cents per ounce the bullion is worth 46.4 cents, but if the price of silver should advance to 62 cents per ounce, the value of the bullion contained in a silver dollar would be 48 cents—an increase of nearly 434 per cent. The price of cotton or wjeat will not rise in proportion to the depreciation of the dollar in which it is to be paid; that is, the purchaser for export will not pay for itat the rate of 48 cents for each dollar when silver is worth 60 cents an ounce, because he knows that silver may rise to 61 or 62 cents per ounce before he can sell the product abroad and get his money for it, and he knows that if this hap- pens the gold he receives abroad cannot be ex- changed for as many silver dollars as he paid the producer here. It has been found that the prices of articles used for food, taking them all together, had fallen less than 10 per cent since 1873, while the prices of clothes and clothing had fallen 32 per cent; metals and implements, 35 per cent; lumber and building materials nearly 20 per cent; drugs and chemicals, 31 per cent; house-furnishing goods 27 per cent, and mis. celianeous articles 10 per cent. The prices for the year 1860, being taken as the standard, were represented by 100. When this investi. gation was made in the nineties articles of 100d 5tood 2t 103.9, or nearly 4 per cent higher than in 1860; clothes and clothing at 81.1; fuel and lighting at 91; metals and imple- ments 6t 74.9; lumber and house-building ma- terials at 122.3; drugs and chemicals at 86.3; house-furnishing goods at 70.1, and miscel- laneous articles at 95.1. The prices of articles of food, the products of farms, gardens, orchards and dairies were about 4 per cent higher than in 1860, long be- fore the silver legislation now complained of. The fall in the prices of these farm products since the year 1873 has been much less than the fall in prices of the commodities the farm- ers have to buy, and the reductions in prices have not been uniform, and therefore cannot be attributed to one cause—to the appreciation of gold, for instance. Notwithstanding the great increase in the production of cotton and wheat here and in other countries, and the consequent decline in their prices, & given quantity of either of them will now purchase in our markets and in the markets abroad a larger share of many other useful commodities than it would have purchased in 1872 or 1873, so that, in fact, as compared with many other things, the values of cotton and wheat have appreciated. The only thing which has been less affected by the changes in the relation between supply and demand, by improvements 1n the methods of production and distribution ana by the other influences which produce fluctuations in prices of com- modities generally, is labor, and it is by far the most important single source of income possessed by our people, a much larger amount being expended every year in the payment of wages than for any other purpose. If the alleged depreciation of gold alone has caused a reduction of prices, the wages of labor, the greatest commodity in the market, should have fallen since 1873, but exactly the reverse is true. The investigation found Wages nearly 61 per cent higher then in 1860, thirteen vears before the silver legislation, and more than 8 per cent higher than in 1873, when that legislation was adopted. The policy of maintaining, or rather at- tempting to maintain, the so-called double standard, never succeeded in keeping'so large an amount of full legal tender silver in circu- lation in the world as there is at the present time, and one of the principal reasons for this is that the effect of the policy was to drive first the coins of one metal and then the coins of the other into the coffers of the hoarders or into the melting-pots, because they were under- valued in the coinage laws, and wouid not re- main in use as money. The United States should go entirely out of the banking business by the withdrawal of its arbitrary and compulsory issues of notes and afford the people an opportunity to supply their own currency based upon their own means and credit, thus enabling every com- munity to utilize its own resources when nec- essary and adjust the circulation from time to time to the actual demands of legitimate com- merce. Inthe meantime our highest duty is to preserve the present money in circulation among the people, whether it be gold or sil- ver coins or paper based upon them, equal in purchasing power, so that no discrimination will or can be made between those who receive silver or paper and those who receive gold. A great Government shouid do nothing to dis-- credit its own obligations or diminish the 'value of the money in the hands of its citizens, nor should the people of & great country ever consent to the adoption of a policy, through experimental financial legislation or other- wise, which would vitiate the obligations of their contracts, interrupt the regular course of their business and destroy the foundations upon which their industrial and commercial systems have been constructed. There can be no antagonistic interest, no prosperity in one section of our country at the expense of another, but we must all stand or fall together. So believing, I have spoken to vou to-day without reservation or exagger- ation in behalf of that policy which, in my judgment, will most certainly promote the welfare and preserve the credit and honor of our whole country. At the conclusion of Secretary Carlisle’s address there was another noisy demon- stration, followed by cries for Congress- man Patterson of Memphis. The Congressman acknowledged the compli- ment, congratulating the audience on the opportunity they had enjoyed to hear the able address of the Secretary of the Treas- ury and thanking the distinguished guest for the favor he had conferred upon the gathering. On motion of Congressman Patterson the convention adjourned until 8 o’clock in the evening. When the coavention reassembled at 8 P. M. Judge U. M. Rose, chairman of the resolutions committee, presented the fol- lowing report, which was unanimously adopted without debate: The people of the Southern States, who be- lieve the maintenance of a sound and stable currency to be essential to the prosperity of the whole country and the welfare of the people in all vocations of life, do, through their repre- sentatives in convention assembled at Mem- phis on May 23, 1895, make the following declaration of their matured convictions: First—Believing & uniform and certain standard of value necessary to the agricultural, commercial and industrial development and prosperity of our common country, we favor the maintenance of all our money, whether gold, silver or paper, on a parity, to the end that each dollar, whatever may be its.composi- tion, shall have equal purchasing and debt- paying power with every other dollar. Second—Profiting by the experience of Wash- ington, Jefferson and Hamilton and the teach- ings of the great students of monetary science from the time when John Locke wrote, to the discussion of the present day, we accept the truth of the principle now universaily recog- nized and applied in the whole world, that & bimetallic standard cannot be maintained where the ratio fixed by law for the coinage of gold and silver does not re- spond with the market ratio of the, two metals, and that wherever and when- ever the legal or coinage ratio varies from the market or commercial ratio to any appreciable extent the dollar, whether of gold or silver, which thereby becomes more valuable as bul- lion than as money will go to & premium and retire from circulation. We saw this principle applied in our own Netional experience, when, under the act of 1822, which fixed the coinage ratio at 15 to 1, gold retired from circulation because of & slightdecline in the price of silver in the open market, whereby the bullion in a gold dollar became worth a few cents more than the buljion in a silver dollar, and was, therefore, sold as a commodity be- cause it was worth more as bullion than as money, and again under the actof 1834, which fixed the ratio at 16 to 1. when the silver coin retired for a like reason. We are, therefore, opposed to the free, unlimited and independent coinage of silver at the ratio of 16 to 1, when the market or the commercial ratio is more than 30 to 1 and the difference between the bullion value of a gold and silver dollar is about 50 cents, on the ground that such action, instead of restoring the bimetallic standard, would inevitably result in silver mono- metallism. Third—At this time there is no countryfin the world which maintains the bimetallic standard, and neither is there any country where the free coinage of silver obtains which is not on a silver basis. Each country, on account of its inability to adopt independ- ently any bimetallic standard, must elect for itseli which it prefers, the gold or the silver standard. We, therefore, favor, in the absence of international co-operation, the retention and meintenance of the existing gold stand- ard, because & change from the gold to the silver standard would have the effect to repu- diate all public and private obligations to the extent of the difference between the bullion value of the gold and silver dollar; because whenever such change should be seriously threatened-it would cause an immediate at- tempt at & collection and liquidation of all debts in anticipation of the result it would produce; because such transition from the gold to the silver basis would destroy public and private confidence and would involve the country in penic, confusion and distress; that the products of agriculture and the wages of labor would be unremunerative, the busi- ness of commerce would become unprofitable, and our people engaged in industrial occu- pations would be thrown out of employment; because there is not a progressive, enlightened country in the world which has not elected the gold es the preferable standard; because gold standard countries retain silver in their circulation on a parity with gold, whereas there is no silver standard country which does or can utilize gold as money ; because there is not a silver country on the globe where wages of labor are sufticient to sustain the working classes in comfort and independence, and, finally, because the high destiny of the United States demands for the use of the American people that money which experience has taught mankind to be the best suited for the promotion of commerce, the development of manufactures, the encouragement of labor and the advancement of civilization. Fourth—We would rejoice over the adoption of real bimetallism, but in view of the contin- ued fluctuations in the price of silver in the open market we realize that it is impossible for the United States to adopt independently a bimetallic standard, and we deem it unwise and hazardous to the best interests of its people for this country to attempt its estab- lishment. We favor the policy of this country standing in the attitude of readiness at all times to co-operate with the other powers in any effort they may make looking to the adop- tion of true bimetallism; but in the mean- time, and until successful operation is in- sured ,to maintain inviolate its existing stand- ard of value. Fifth—We favor the retention as part of our ‘money the silver now coined, and in order to give a wider field for the use of silver and sil- ver certificates below the denomination of $10 into higher denominations, 8o as to make our entire circulation below the denomination of $10 either silver or silver certificates, and to this end the Secretary of the Treasury should be authorized by law to coin from time to time, as people may require them, silver dollars until the demand of commerce for money below the denomination of $10 is at all times satisfied. Sixth—We realize that our Nationai banking system was adopted during a time of war, and that it is not adapted to existing conditions. We, therefore, favor such legislation as will se- cure to the people a system of banking sur- rounded by such safeguards as will at all times furnish them a safe, elastic and sufficient cur- rency for the transaction of their business. Seventh—We cannot too highly commend the unflagging courage and sturdy patriotism of President Cleveland in his efforts to protect the National honor and to maintain the public creditduring a period of great financial distress, and under conditions which threatened dan. ger to both, and we congratulate him and the entire country on the evidences of returning prosperity. The reading of the resolution was fre- quently interrupted by applause. Resolutions were adopted indorsing the work of the reform committee on sound currency of New York, and urging the or- ganization in the Southern States of sound money clubs to carry on the campaign '®egun at this convention. In response te numerous calls, Congress- man Patterson made a speech on the work of the convention. At the conclusion of Mr. Patterson’s re- marks, a resolution was adopted authoriz- ing the appointment of acommittee of one delegate from each State represented to superintend the distribution of proper sound money literature. The convention then adjourned sine die. CARLISLE HAS CONFIDENCE. Expects Great Things From the Sound Money Movement, MEMPHIS, TENN., May 23.—To an Asso- ciated Press reporter Secretary Carlisle to- day expressed himself as astonished at the magnitude of the sound money demon- stration. “1 have the greatest confidence,” said he, “in the ultimate success of the sound money movement. The wave of silver sentiment reached formidable proportions, but I think it has about spent itself and is already on the decline. In my own State the struggle is a hard one, and I have seldom seen such great general interest in a public question as is shown there, and in fact throughout the section. I trust the good sense and judgment of the Southern people. No section of the country is more vitally interested in the maintenance of a sound financial policy by the Government, and none have greater promises of pros- perity under sound economic conditions.” _— FOUND N THE RIER Recovery of the Bodies of Mrs. Notzen and Her Two Children. She Had Bound the Little Ones to Her Before Committing Suicide. OMAHA, NEBR., May 23.—A Missouri River fisherman to-day found the bodies of Mrs. Ida Notzen and her two young children. Mrs. Notzen is the Omaha school-teacher whose mysterious disap- pearance with her children last fall created such a sensation in Omaha. She left a let- ter saying she would kill herself and her children because she had not been ap- pointed to a position in the office of the State Superintendent of Public Instruc- tion. Search at the time revealed nothing that would indicate that Mrs. Notzen had car- ried out her threat. She wasa very intelli- gent woman of 40 years, with a good stand- ing in State educational circles. Her hus- band is a Chicago merchant, she teaching in Omaha and residing with her parents. The bodies were found firmly tied together with a heavy rope. Evidently the misera- ble woman had taken her children in her arms, twisted the rope around them and leaped into the river. The clothes of the children were tied around their necks as if having been strangled before being carried into the water. —_— OF INTEREST TO THE COAST. California May Get a Slice of Land From Nevada. ‘WASHINGTON, D. C., May 23.—Senor Romero, Mexican Minister, having been shown the interview published yesterday with Patterson Sprigg, the San Diego at- torney who has come to Washington rep- resenting the claim of Charles Oberlander and Mrs. Barbara M. Messinger against the Mexican Government, for alleged ill treatment, said that asthe subject to which the claim relates is being treated directly between the United States legation at the City of Mexico and the Mexican Govern- ment he would not enter into the details of the case, and would only say that Mr. Sprigg has drawn a great deal upon his imagination, which he believed would be clearly shown when the official papers bearing on the subject, including the claimant’s memorials and affidavits, are published. Field Officer 8t. Clair of the Coast and Geodetic Survey, with twelve men under him, left for the West yesterday to resume the California-Nevada boundary survey. General Duffield, superintendent of the survey, said to-day he expected the work would be finished this season. He says that Nevada will lose part of her territory to California, although, of course, he can- not speak with any degree of accuracy at present. He believes that from the way the lines are running at present Nevada will lose a strip of land from one to one and a half miles in width, and which will become a part of California’s domain. It is not definitely decided yet whether Professor Davidson of California will have to go or not. It is thought it will be Officer Rogers. They have both been em- ployed in Pacific Coast survey work for many years. Professor Davidson seems to stand well with the officers in charge here, but nothing is said to indicate that he will be removed or retained. General Duffield said to-day the matter would have to be decided before July 1 next, but that the Secretary of the Treas- ury would have it in hand. It is alto- gether probable, however, that General Duftield’s recommendation will be heeded by the Secretary. A postoffice was to-day established at Challenge, Yuba County, Cal., with Elijah B. Sparks as Postmaster. The following pensions have been grant- ed: California: Original—Samuel A. Mc- Curdy, National Soldiers’ Home, Los An- geles; Seneca A. Foster, Yountville; Al- bert G. Bradley, National Soldiers’ Home; Charles W. Chapman, Gridley; Daniel 8. Brant, Santa Ynez; Joas Silberia de Brume, alias John Broom, San Francisco; Francis H. Nunes, Georgetown; John Mi- ley, National Soldiers’ Home; John Mc- Loon, National Soldiers’ Home: Albert S. Moore, San Francisco; Frederick Stutz, Sisson. Increase—George A. Strausbaugh, Hyde Park; Robert P. Wilson, Sisson: Rudolph Pfeiffer, San Francisco. Reis- sue — Almus Kennedy, Lower Lake; Daniel H. Wilson, Suisun City; Reuben B. Richards, Oroville; Jonathan Moon, Bakersville; Albert Wheatland, Whittier; Edward M. Edeline, alias Ed- ward H. Oakes, Bay Side; Emery B. Gates, National Soldiers’ Home; Ephraim R. Huggins, Tulare. Original widows, etc.— Thomas C. Haskins, Los Angeles. Mexi- can War, widows—Tabitha Sharp, Ven- tura. Oregon: Reissue—August Buder, Silver- ton; Levi Henderson, Salem; William A. Vincent, Eugene; Joseph A. Braden, Mount Taber; David Mudge, Woodburn. Increase—James M. Reese, Roseburg. Washington: Additional — Friend H. Holman, Seattle. Increase— William E. Jesler, Kelso. Reissue—Calvin M. Vowell, Olney; Francis A. Hoagland, Fairfield; Marion Johnson, Egypt; William T. Con- nor, Farmington “For years I had suf- fered from falling of the womb, inflammation of the stomach, and weakness of the female organs. “1 used Lydia E. Pinkham’s Vegetable Com- pound, and found a perfect icure in it for these troubles.” Mgs. Lizzie DEeCLINE, 224 Grand Street, %! Jersey City, New Jersey. , (g NEW TO-DAV. REEFER SUITS FOR LAD The Cutest, Prettiest, Most Fashionable of Reefer Suits, In Light Colorings, in Blues and Blacks. $9, $8, $7 and $6 are the correct prices. Friday and Saturday your pick from 2000 of ’em AT RAPHAEL’S, OF COURSE. LONG TROUSER Pretty Summer Suits for These Young Men, LADS--- In very handsome colorings. We’'ve ! too many. We’re going to unload. $14, $12 and $10 are the correct prices. PRICE FRIDAY AND SATURDAY — — =$5.00 SIZES 12 TO 19 YEARS. AT RAPHAEL'’S, TO BE SURE. WASH SAILOR SUITS AT RAPHAEL’S, OF COURSE. BEST GRADE, Double Knees and Feet, all Sizes, 5 to o}, At 20 Cents —AT— RAPHAEL’S. For the Little Folks, In Pretty GALATEAS, Cheviots and Linen Ducks. Navies, Light Stripes and lots of other pretty colerings. including cord and whistle. Saturday (KNEE PANTS), Two thousand of ’em, in Dark Two thousand of ’em, Friday and TENNIS 'FLANNEL ‘WAISTS, Sizes 4 to 12 years, the 50c Grade, On Special Sale at 25 Cents. We’'ve everything the Little Man needs for his Summer Out- ing---Fresher Styles than other stores, and at nearly one-half || what other stores charge. RAPHAEL’S 0, II, I3 INCORFOR.ATHED), and 15 Kearny Street. 2 BUILDINGS——8 FLOORS, 130 EMPLOYES TO SERVE YOU.