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Cl}kttgo Cribanto THUKSDAT. MAFCH 3, 1865. SHAIt WE PAY OFFJ>ta NATION- AL DEBT. Xb Influential financial circles of Boston, Hew York and Philadelphia, a project is being discue&ed which If carried out will rank as the grandest financial achievement in the history of Republican governments. This is nothing less than to pay off our entire na tional debt by one sweeping act of voluntary contribution, which Trill rid us of both prin cipal andlntcrcet forever. When we reflect that the interest which we shall have to pay on the national debt will amount for the short space of about seventeen years to the whole principal, tbo great economy of ibis step seems at first blush Oar entire debt as funded, amounted In October last to about seventeen hundred millions of dollars, but is likely to amount to two thou* sand millions of dollars. To pay this would require donations of ten thousand dollars each by two. hundred thousand of our wealthy cltiiens throughout the loyal States. It is believed that there are fully this num ber who on carefully computing bow much they could afford to pay to rid their business nnd estates of all Ihtnre taxation, would find it profitable to Invest SIO,OOO In sagi a free gift to the government. If, however, but 100,030 could be found to contribute so large a dona tion, the remaining half of the debt could be thrown open to subscribers of all amounts. For convenience, and a more ratable distribu tion, apopularnatlonal convention might be held to organize the whole affair so that the quotas of all districts might be fairly assigned by sub-committees and the amount of each person’s contribution brought up to its fair figure. This would perhaps lessen the spon taneity of the movement hut would prevent the penurious and unpatriotic from profittlng by the generosity of the more liberal. Jn whatever manner the details of the movement might be conducted there can be mo dcuht of Its feasibility. Already the most liberal offers have been drawn forth. One gentleman in Boston, a warm advocate of the measure, has offered to give $200,030 himself. , Ills argued that the payment of Ihisßcbt would leave the country wholly free from taxation except tbe one hundred millions or thereabouts per annum which would be fur nished by the customs and which would be ample for the entire support of the Federal Government. The spectacle of thirty rnfflions of people paying off in a single day the entire expenses of onr fearful war of four years, one of the most terrific in the world’s history, while the monarchical governments of Europe still groan under the war debts they have been handing down for centuries, would certainly seem to form the most magnificent proof we have yet svcn of tbe permanence of republican And ye*fre distrust the expediency of pay! ing off onr national debt in full. T7e doubt whether a national debt dne to our own peo ple has not many advantages which arc suffi cient in the aggregate to overcome all Us dis advantages and to make it a national bless log. The debt is only In form dne to the govern meat, hut in reality it is dne from one class of citizens to another, viz: from tbe holders of other kinds of property, or tax-payers, to the holders of government securities, or tax rcccivcrs. It now cxls te therefore in the form of surplus capital well, secured. If it is paid off it will still he surplus capital and will seek other securities. Every man can balance the debt as to himself by holding as much of the government securities as the taxes he pays will pay the interest on. He will then stand in precisely the same position as if the nation ul debt were paid—except that be will have the advantage if heisabolder of government Bonds of having In hand so much easily real llzahlc and convertable Interest-paying capi tal with which to engage In any new enter prise, which, if the national debt were paid off, he would hare In non-interest-paying cm rency. *- The surplus capital now invested in govern, ment securities was pnt into that form be cause it was to the interest of those buying them to put their money into that kind of investment. Patriotism stood ready to loan bat waited generally until in terest concurred. If it was to the interest oy the holders to take the loan, is it not equally to their Interest to keep it ? If it is paid off the holders of government securities will have two thousand millions of non-interest paying capital thrust into their bands, will ing or unwilling, for which they most seek new investments, and ou which for a time they must lose the interests- When they have loaned It all out on bonds and mort gagee, notes, or invested it in real estate to rent, the country .will be beck in the same condition as to Us accresate-of indebtedness m before, viz- ' one class of its citizens, the borrowers or tenants or mortgagers, will be owing another class, viz., the owners of sur pltw capital, the same old sum of two thou sand millions of dollars, and will be paying interest thereon as now at . a rate pro portionate to the value of capital and the risk of security. The rate of interest ought to be lower on govern ment than on private securities, as the secu rity is higher, and would be were it not that there are more government securities in the market '-than are valuable as capital. This might-be n reason ibr reducing but not for paying off. the national debt. In short the country needs for its surplus capital just each a mode -of Investment as the national securi ties presents. It tends vastly to mobilize capital and to facilitate changes of invests ment. Suppose, for instance, a fanner In New Jer sey wishes to emigrate lo Illinois or Callfor uia. Under the old system be -would sell his form for part currency and part bonds and mortgagee. Bis currency be could only use in mJnoU at a share, and bis mortgag-she most spend weeks in getting cat tied there, inrolrtng » search of his title and a share to everybody concerned in the transaction. Kow, however, he sells his firm for United States securities, ■which his purchaser can as easily obtain ns anything else, carries them with him bearing interest as he goes, fruitful even upon the desert plains of Utah mountains of Idaho, and as readily converti ble into a farm fn California as in New Jer sey. Nay be can return with them to the land of bis lathers, and convert them into a &rm on the Rhine or the Danube as readily os on the Mississippi. Under the old State currency system the New Jersey faraier might jievcr sell his farm, becawe of the difficulty of mobilizing its value at all, and the impos sibility of doing so without loss. In short weneed for the financial prosperity of our country a kind of security so sure and safe, so universal in its credit and so desirable in its rate of interest as to enable any business i man at any time to invest in It whatever preperty he cannot better invest elsewhere. It guards against stagnation o! capital and cheapens the rate of interest by preventing a higher rale of interest prevailing on private loons than that paid by tbe government. It enables tbe whole country lo become the banker of the humblest citizen at any mo ment, for any required length of time, and for whatever amount, Apart from its value ns a basis for a regular National Bonking ays tern and a uniform currency, tbe only one which should be tolerated in our country, a considerable amount of Government stocks facilitate commerce and every operation of capital. It Is this which has kepi the rate of inter cst so low, and thereby built up manufactur ing and commercial industry in Great Britain.' With every Increase of her national debt, her rate of.. interest has fallen, her industries have multiplied, and her population and prosperity been increased. Why will It not confer like advantages here ?. But above all a large national debt should be sacredly preserved os one of the guaran tees of onr continued unity. The people which has no pecuniary Interest the Gov ernment will invest their pecuniary interests elsewhere, as the South did in Us slaves. When the interest of that in which they have Invested their capital, whatever It be, is sup posed to come to conflict with the Govern ment in which they bavo not, they arc al ready ripe for rebellion. Great Britain is held together by her national debt. The policy of those of our statesmen who desired secession has always been to pay off our na tional debts, break down our patfnngl banks, build up Stale banks on a basis of State debts, and so render the State superior to the Federal power. Let ns never again Imitate the statesmanship which has once aided to destroy ua. THE GROBCUN BAT CANAL. The citizens ofToronto seem determined to keep alive this great enterprise; though It must be confessed there does not seem to be any immediate prospect that an adequate and comprehensive effort will be made to com plete it. By a report of a recent meeting in Ibe Globe, at which the Mayor, presided,’ we observe that it- was decided to memorialize the Government to grant 10,000,003 of acres of the public lands to aid In Its construction. The proportion to grant a large amount of stock in the Korthem Railway, owned by the city of Toronto, also passed; hut the Old* says not till those at first composing the meeting had nearly all dispersed. "Whatever may be the present late of any movement, the writer hereof has never charged hie opinion, farmed from observations of the country and surveys by engineers, pearly ten years ago, and that is that the canal most and will be built. The necessities of England, to reach bj the cheapest and the shortest route the rut food producing regions of the West, la order to feed her millions of operatives, will force her capital or her Gov ernment to construct it. It is even now dc. ojonatrable that tbeamount of money sure to be saved by the cheapening of freights on the products England would bring from, the West'would pay for the entire canal in less than fire years. The early and present friends of the measure can, therefore, slford to bide their time. Their predictions are sure to he realised. .' DESIACOCriSM AUD toe draft. A cotemporary, not noted for its devo tion to low, except as represented by the fugitive slave law and the “laws” passed at Richmond, is anxious to prevent the President from violating the draft law, by Inciting the people to opposition upon false and untenable grounds after all proper and legal efforts to prevent its enforcement have failed. Oar cotemperary says: “Theqaesdons are cow broadly presented to xhe peopfe of the State whether they will demand from the President obedience to law, or submit to the fraudulent demands for their Urea nude hr the quota assigned. “ « e call upon Governor Ogleiby to redeem bis pledge, and shield the State Cram outrage, and onr people fiom being dragged from their homes, at the bidding of Irresponsible power.” The above contains three important frlse hoods: 1. That the President in enforcing the draft in Chicago will not be acting in strict obe dience to law. 2. That the draft demands the u lives ” of the drafted men. It only demands their ser vices. If they lose their lives, it will be si the hands of Just such “rebels” as the Chi cago Tima, who are fighting to resist the government In the name of the law just ns the rebel organ recommends that the people of Chicago should do. 3. That Governor Oglesby has the right to sit In judgment on the * legality of the Presi dent ’s acts, and to lead the people of Illinois into rebellion, if he concludes them to be un lawful. This is untrue. Congress by impeach ment, and the Supreme Court can alone de cide oh the legality of the acts of the Presi dent. Any other doctrine Is secession. It may be “democracy” to talk or write it, but ' .toplanitis treason, and to attempt it is re bellion. But the President’s course in ordering the draft In Chicago is strictly legal. The enroll ment and assignment of quotas have not been opposed on the ground that they were illegally taken, hut solely on the ground that though legally taken, they were so taken as to result in an unfair and unjust assignment of our quota. They were in compliance with the law, but were not In accordance with the facta. The various steps taken to secure a correct enrollment were legal, but a correct enrollment was not in fact obtained. 'Whose fault was lit If the fault of Congress in framing an imperfect enrollment law, then, bo far from Its imperfect working proving that the law had not been followed, it would prove that it bad been followed, os, if the law were imperfect, a literal compliance with it must work injustice. If, on the contrary, the law is so framed as to provide/ora correct enrollment, by giving the people ample opportunity to correct it, and it remains incorrect, then the people arc at fault in not having taken in season each measures as would perfect the enrollment; and if Provost Marshal James, or any other official, stood in the ‘way of a correct enroll* ment, they could still, by stress of diligence, have corrected the enrollment in spite of film The application by the draft committee to the President to reduce the quota was there fore of this nature: The Chicago Provost Marshal having performed his duties in an improper bat not illegal manner, and the people of Chicago having dept ovorthls Im proper enrollment until the quota had been assigned under it, and the men were liable'to be needed as a matter of military necessity at the front, the committee desired the President to allow them to do now what the people should have done before the quotas were assigned or draft ordered. The President,,in whose discretion u rests thus to delay the execution of the law which he has done his utmost to have fairly executed, and which has been legally executed, though not Ctirly, finds that the interests of the whole nation would suffer by compliance with the demand. Tbit is exactly the kind of. question' the people of the United States hare given him the author ity to decide, and in deciding it be represents lawfully and constitutionally th» people of xhe United States, and should be sustained by every man who intends to rusts In the flag. EappDy, it U not a question ol dragging any man from his home. There are men enough willing to go voluntarily if a sufficient , pecuniary provision shall be made for them. It ia, therefore,* question simply of making the pecuniary provision required to furnish the full quota. If no farther enrollment and draft shall be ordered, Chicago will have the satfc&ction of knowing that she did more th*n her share in a glorious work. If on a ybture enrollment and draft it shall be found that Chicago has exceeded her quota, the ex cess will be equalized. If it be found that this enrollment vres correct, she will be glad that the in teres tsJo£ the nation did not suffer by reason of her error. In either event we recognize the fact that our lives are all at the service of the country If they are needed, end that It can be no injustice, therefore, to any individual to call upon him to fight in its de fense. New Tork Town ElecUons—Unlon Gains. The town meetings have been held thus far, far in Now York In only the few counties given below. They show a Union gain over the immense preponderance of the same party last year: _ #-ISSS-s Chenango 5 J5 6 Chemung 37 5 6 Franklin 9 7 j* 4 Fulton 6 6 4 6 Otaego (1 tie) 13 ID J2 1? Richmond 5 5 Schuyler 4 4 *4 4 Tier*. 8 2 5 2 Mcntffomeiy , 4 6 4 6 Herkimer. 14 B U 7 Jefferson (bat I townj 17 8 15 7 93 69 The result lost year stood as about four Union to one Democrat, and will be about the same this spring. Tennessee Constitutional Election. We gather the following scattering returns of the recent Constitutional election in that State: Knox Co.—The vote of Knox county is 2,500 for the Constitution—unanimous. Bedford Co.—About 1,800 for the Consti tution, and 12 against. Wilson Co.—For Constitution, 830; against, one. Lincoln Co.—Over 1,009 votes for the Con stitution. Snores Co.—Glrcsaboul 100 votes for the Constitution. The Samneritcs are Ssccsh. Rhea Co—Constitution, 273; againqt, 0. Davidson Co. (Northvillc)—Convention, 1,082; against, 4. Roueutson Co—The vote of Springfield unanimous for Constitution. Wjllllmson Co.—Town ol Franklin, 450 for Constitution; none against it. Coffee Co,—Tullahoma, 397 for Constitu tion ; none against it. The Montana Flax Seed.—We extract the following from a letter written by J. J. Roy, of Glcnwood, lowa, to J, L. Campbell, of this city, agent for the sale of the Mon. tana Flnx Seed; 44 Enclosed I send yon two dollars for two pick ages of the seed. I spent the lust season in Mod tana and haring seen it growing. 1 am desirous of giving it a trial* believing from the appearance of u then (hat ft will, when cal lira ted prore to be of a superior quality.” We understand that this seed is having an immense sole and that every confidence is felt that It will prove a reliable and valuable pro duct to be added to the agricultural wealth of Illinois and the West. Mr. Campbell may be addiessod 41 P. O. Box 8,179, Chicago.” jg«r A due regard for truth and decency would have suggested to the editor of the Davenport Gazette to publish the whole of the letter which we addressel to him, instead of garbled extracts from the same. We take our leave of him and all Ills assistant petti foggers. irEBtS. Population of Paris, 1,667,84 L Horse flesh is sold In the shops of Turin, gcaly—the soldiers is to have a flsh ration. A giant in Paris are nine feet high. A man just executed in Odessa had committ ed 22 murders. Tte Rothschilds—shrewd old file*— ate buying largely in U. S, stocks. A paymaster was robbed at Baltimore re cently of $19,000. The duke ofSt Albans was recently cap tured and made to pay a rarisom of S7OO. f Burns's two sons, KJcol and James, are Col onclsin East India—7l and 73 Tears of age respectively. The Madrid Courts hare decided that the Empress of France Is not the Countess of Mi randa nor entitled to Its property. A handsome female pickpocket just arrested In Kew Tork has been in the business since she was eleven years old. and has realized $35,000. It is said that a talented Frenchman has at length dlscovtired- the process of fixing the natural colors of any object photographed- A paragraph states that the Empress Eu genie wore $3,500,000 worth of diamonds at the lest court ball. OneHeirEndrea^or Mayenee, has invented a machine which wfll write down music as {Ut M it ii played. THE SIEMAN FUMACE. Second Article froffl Professor Daniels on the Inrention. EIPEBIBENTB IS STEEL AND GLASS WORKS AT PITTSBURGH. Eemarka of Sir William Armstrong and Pro! Faraday. Successful Operations in England, France and Germany. Id a former article, I endeavored to explain the new method of treating bituminous coal in the Sieman process to obtain combustible gases of sufficient richness and purity for metal working. It was shown that by the combined action of coal, air and water, these gases could be generated and purified so as to be adapted to all metallurgical purposes. It remains now to be seen how. these gases are treated in the furnace. Undefthe furnaces, where the heat is to be used, chambers-are built, packed .with fire brick, having open spaces between them. These ate Ibur in number, and are called re generators. They work in pairs, the gas as cending through one, while air ascends through the next. The gas and air enter the fmnace through outlets, designed for their passage, and so placed that they combine at one end of the furnace, and produce the heat due to their chemical union. At the other end of the lh>nace are similar out lets, connected with the other pair of regene rators. The combined gases, after doing their work in the furnace, pass down these outlets, still retaining a portion of their heat, which they impart to these regenerators, and move on to the chimney. Tbe last named regenerators soon become Intensely heated by this treatment. The passages between these chambers arc supplied with valves and deflecting plates, which act like four way. cocks. By tbe use of a lever theses regene rators and air ways, which were carrying off the waste gases after combustion, ean in stantly be used for conducting gas and air into tbe furnace, while those wmch before • carried gas and air in, now take out the ex hausted gases to the chimney. By this sim ple expedient an enormous amount of heat wasted in the old furnaces is saved. The gas and air, entering by the re versal of the valves through the passages raised to an intense 1 heat, by the outgoing reihsc of combustion, lake up what thejr predecessors had left. They enter the fur nace at a white beat; and there add .to their carried heat that due to their mutual chemi cal action. It Is estimated, that about 4,003 degrees of heat are thus carried forward, while3.ooodegrees are taken from the regen erator in passing. This intense heat, if not moderated, would melt down the most re fractory materials of the furnace. In this manner the regenerators are alternately heated and cooled at such brief Intervals os observation may indicate to he necessary. The result Is, that a vast economy of heat is effected, and at the same time the quality and quantity of heat Islander the complete control of the engineer, every moment. Tbe supply of gas depends upon tbe supply of air to ine producer, and can, of course, be stop ped by dosing the draft. By placing the in lets for air or gas, at less or greater ftstancee, the combustion In the heating furnaces is made rapid or gradual, at wilL So also the heat can be directed upon particular points by ;nlcely adjusted contrivances, which the ingenious bunder wDI apply for himself. ihe advantages of this system as claimed by the inventor, and demonstrated in prac tice, may bo summed up as follows: Ist. Ii enables tbe manufacturer to use, profitably, that large class o f soft coals which, owing to tbo presence of sulphur, or the ex cess of bituminous matter,are now worthless, or only applicable when coked. 2d. It gives unlimited command of heat, without tbe intense chimney draft used in the old furnaces, at great cost. Sd. Great purity and gentleness of flame, which largely diminishes the oxidation or dc- terioralionof mafeiial heated in the furnace, and improves the quality of the product. 4th, Greatly increased durability of fur nace, owing to the absence of ashes, and per fect uniformity of heat throughout the works. sth. Saving of space within the works, and cleanliness in operating, the fuel being con verted into gas outside. Oth, The complete control of the intensity of the heat, and unlimited command of the chemical nature of the flame, which may be attested wholly, or changed from a reducing to an oxidizing flame, or the reverse, at any moment, tending to facilitate all metallurgi cal operations. ' 7ih. Tiie complete consumption of the smoke of soft coaU ao that none of it it seem rising from the chimney, rendering this fur nace of great value «in large manufacturing towns. Upon this latter point, Sir William Aina streng, in a recent paper before the British Scientific Association, remarks; “The com bustion in common furnaces is so Imperfect that clouds of powdered carbon. In the shape of smoke envelop onr cities, and gases which ought to be consumed In the furnace pass in to the air, with two thirds of their heating value undeveloped. Theproductlcnofsmoke is unnecessary and inexcusable. The Sleman process remedies this waste, and removes a great source of public annoyance.” In- these Ihrnaces the neat evolved by combustion is superadded to that previously acquired by the gases. Thus, in addition to the economy, a greater intensity of heat Is obtained, than Is possible by ordinary com bustion. In fact, as the heat evolved 'ln the furnace, or so much of It as is not communi cated to {he bodies exposed to Its action, con tinually returns to augment the new fuel, there appears to be no limit to the tempera ture attainable, except the powers of resis tance In the materials cf which the fonace Is composed. Prof. Faraday, in a recent lecture before' the Royal Institute, says; “The Sleman process is founded on philosophical princi ples, and is destined to play a most important pait in all metallurgical operations.” The new process is rapidly coming into use in Europe. It Is used In the mauutactore of lusting gas in Paris, some thirty producers being erected to supply the city. In the zinc and brass works ot Germany, it is also suc cessfully applied, while In England there is scarcely any branch of iron or steel working in which it has not been thoroughly tested. The scientific and practical character of the discoveiy is universally conceded there. The process was first introduced into this country by Park Brothers, extensive manu facturers of fled and sheet copper, at Pitts burgh, under the supervision of Mr. Powe, their capable and accomplished Superinten dent, who had seen it applied in England. Mr. Powe. erected a producer, modified to suit our American coal, and anplied it to the reheating furnaces of the es» abashment. It has done all, and in some respects oven more than the inventor promised. The quality of the steel turned out from this establishment is equal to any in the world, while the facil ity of managing the heat is the admiration of every practical man who visits the works. The process requires of course superior intel ligence in the manager, but this is rather a virtue than otherwise, as no other class of men should be employed in superintendence. In the extensive flint glass works near Park Brothers, Mr. Davis has tested the process for eight months, with the most satisfactory results. The furnaces formerly used about nine tons of the best cool to do work which Is now done by about five tons of the poorest coal. The finest quality of glass is made'at these works. The manaseableness of the heat Is shown by the fact that a famccc ex posed to a temperature of 4,003 degrees showed no signs of fluxicg.thc central pillars coming out with every angle as sharp as when the heat waa first applied. In other estab lishments preparations ore making to intro duce the new process, and it is very clear that it must rapidly come into general use. It is scarcely possible to estimate the ad vantages which the West may derive from this invention. It opens the way for home manufacture of ail the great staples in our midst. Out coal Is at once redeemed from comparative inferiority, and becomes a source of cheap heat and motive power, adequate both in quantity and quality to the vast and varied demands of manufacturing industry. If you would see what coal can ‘do for a peo ple who torn it to foil account, look at Pittsburgh, a city of 150 000 inhabit ants, built up by its' mines of coal. There are no drones in its Live; bead and hand arc busy. Even Its children and crip ples find remunerative labor in its factories, tl lost |30,000,0CX) by the rebellion without shaking its credit. No city on the continent contains more solid wealth in proportion to Us population. Its prosperity is permanent, for it is based upon the crea tion ol new values. Possessing in its coal the creative power, it stretches out its mighty arms and gathers the wealth of half a conti nent into us lap. It brings to its furnaces and forges the iron and copper of Lake Su perior, glass sand from England, and Missouri and Illinois; lead from Wisconsin and Missouri; zinc, brass and tin from be yond the seas. You pass through its gigan tic establishments and are amazed at the variety and extent of tbeir perfected pro ducts. Yet all these, from the most delicate fabric of glass, to the ponderous' cannon and steam engine, are In the coal which .underlies the smoky hills of Pittsburgh. The murky clouds, which brood over that great temple of industry, are the sweet incense which rises from altars consecrated to use and beauty. Skilled labor waves her enchanted wand over the “ black of the coal, and fair creation* come forth in brilliant and imposing array to bless mankind. We, also, have all the conditions of tbt« marvelous prosperity, in raw mate rial, in perfected communications, in accumu lated capital. It needs only the intelligent forecast, and the willing mind, to hnlld up its counterpart, on the western shore of the great lakes. ' E* D. 91 61 Joe Johnston Reappointed In Spite of Pavla. I From life Richmond Examiner, Feb, 23.] Gen. Joscph-E. Johnston Is to be restored to command. He has been ordered to report to Geb. Lee, the Commander-in-Chlcf, who will doubtless at once give to th« Confedera cy the benefit of Gen. Johnston's in some appropriate sphere. Bnt a few months ago It was apparently considered, at Richmond, that the affairs of the Voniederacj were so flourishing, and its position so sure, that it could afford to do without one of the first military command ers of the age, and consign him to civil life, in a species of only to gratify thj private feelings of the President. It was agreeable to feel that we were so rich lu mili tary genius; and that we ciuld thus be cer tain of heating the Yankee invaders with one of our hands tied behind oar backa. Even is, however, have since occurred which compel the country to reflect that how much soever we should be charmed to sdb Mr. Davis in du'glng hlmseli in a darling spite, even at our expense, yet we could no longer afford it. Accordingly public opinion hat b;ea express cd so Icuily usd clearly np*n that mailer &r to put a> stop ftt length to the dangerous re* creation. There will be tcjcidng round many a hearth in the Confederacy when this newc is heard. Especially there will be jubilee ia the army, and the gallant remnant of that once fine Ajmy of Tennessee, which has suffered most by the btforementioned game, will now feel equal to double duty. One reflection, however, will be euro to oc cur to all military people. No General cam do efficient service m command of an army unless he be sustained and supported bp the confidence of hla Government. Onctni<*ht now tremble for Qnn. Johnston but for the consideration that Qcn. Lee la Commander in-chief, with large jurisdiction over the mili tary affairs of the country, and. wc trust, a refolutc will to use that p jwer for our good. TOWNSHIP BOUNTIES IN IL- LINOIS. Decision of Judge William- son at Peoria. The Township Bounty Law Held to l)c Constitutional, [From the Peoria Transcript.] . Austin A. Gordon a a?, i-i. Richard P. Sea bury rial. The complainants filed llieir bIU against the defendants, officers of the town of Kickapoo, to restrain them from Issuing bonds of the town, for the purpose of paying bounties to volunteers, substitutes and draft ed men; and to enjoin the levy and collection of a tax for the payment of which bonds were about to be issued. and taxes lev ied under an act of tbe last Legislature. No question is made oa to the regularity of the proceedings had. ancUhc only questions to be determined are those of the constitu tionality of the law. It is the duty of all courts to hold laws, passed by the legislature, to be constitution al, unless such laws ore clearly and palpably a violation of that Instrument. Whenever a court entertains a doubt of the nncoustttu-* tlonallly ofthelavf it must hold it constitu tional, and every presumption is in favor of Us constitutionality. It is tbe duty of tbe le gislature, as much as of courts to regard and observe the constitution. They, too, are sworn to obey It, and they violate their duty and their oaths In the passage of any uncon stitutional enactment. Therefore in tbepass sge of a las* the opinion of the law-making power is expressed In favor of the consti tutionality of the law, as clearly as it could be in any other manner.and it wonld bo pre sumption In a court or judge, while he enter- • talced any doubt as to its uncouslitutionality to hold it unconstitutional, and void and to overrule the clearly expressed opinion 'of the law-making power with a doubt. The Supreme Court of thfe United States, in 13 Wheaton, 270, say, “It is bat a decent respect doe to the wisdom, the integrity and patriotism of a legislative body, by which any law is passed, to presume In favor of its validity, until Us violation of the constitu tion Is proved beyond all reasonable doubt.” Tbe Supreme Court cf Indiana, 5 Blacks, 259, say, “ m questions of this kind it is our duty to decide m favor of the validity of the stat ute, unless Its unconstitutional!ty is so obvi ous as to admit of no doubt.” Tbe Supreme Court of lowa, 2 lowa, 208, hold that a Court will not pronounce a law unconstitutional “unless the case be clear, decisive and una voidable.” The Supreme Court of Illinois, also. In relation to declaiing laws to be un constitutional, says,'“ll should not more over be decided bat in cases of clear necessi ty, and when the act done is in plain con flict with the constitution.—lo 111., 411, 3rd Scam, 240. Numerous other authorities might be cited, that it is held by all Courts, that to hold any law passed by the Legislature to be unconstitutional, is a matter or great delica cy, and will not oe done when tl<? Court en tertains even a doubt upon the subject. With this rule, so well established, os a guide, and taking into consideration the fact that the principle that would hold this act of the Legislature unconstitutional and void, would render void all the bonds and securities that have been Issued by the numerous towns, cities and counties of our State, for the pur pose of encouraging volunteering, Courts will hesitate long before they declare the statute unconstitutional. It is contended that the law In question is a violation of that clause in the Constitution which prohibits the taking of private proper ty for public use without just compensation. The answer to this Is, that neither the act of the Legislature nor the proceedings bad un- Oer it, propose to take property from any person, and it has been so often decided by our own Supreme Court that no method of taxation, where the* property itself la not taken, does cotne in conflict with that clause of the Constitution that it is needless to cite authorities upon this point. Levying a tar upon piopmy is not taking the property, and therefore cannot he a violation of that clause of the Constitution,. Nor can it be said that the payment of the bounties is ap plying tbe money so raised to a private pur pose. The fact that this money may be paid to tbe individual who volunteers or may be drafted, is no more applying the money to a private purpose than tbe Issuing of Government or city bonds and pay ing them, or the proceeds of them, to a private corporation for .the construc tion ot their railroad. It is said that such bonds may be issued and paid to a private cor poration to construct a road, because the road is a public benefit, but so Is the putting down of rebellion a public benefit. It is the end designed to be ejected with the money or the.bonds that determines whether the purpose is public or private. If the design forwhich the.money is raised is to procure men to suppress rebellion and preserve the Government from overthrow und ruin, It can not be said to be private, although the money or bonds may be paid to the person who un dertakes to perform this public duty. We most look at the end designed to be accom plished to determine its character, rather than at tbe means by which it is to be ac complished. No man will contend that tbe mere payment of bonds or money to a railroad company Is a public benefit, but it is the use to which they Agree to apply it. Itlsolso continued that the duty to volunteer and serve in the military service is a personal or individual duty, and that tho Legislature bos no power to direct the levy of a tax to pay a man a bounty to do his individual duty. Although it is the doty of any and every man to give nls services to the country when colled upon, yet' the duty he performs Is a public duty, and the money is therefore paid for a public use. It is paid as much for the benefit of those who remain as those who accept It and go into the service of their country. The argument proceeds upon the hypothesis that as the tnan by serving his country only , per forms his duty, therefore he can have no legal right to require pay or bounty. But it is not necessary that a man should have a legal right to this bounty to enable the Legis lature to direct the levy of a tax to pay bounties. Such a construction wonld * sweep away nearly all taxing power. The Court of Appeals In the Stale ofNew York upon this point, say In 3 Kernan, 149, “ The Legislature Is not confined in Its appropria tion of the public moneys, or the sums to be raised by taxation in favor of Individuals, to cases In which a legal demand exists against the State. It can thus recognize claims founded in equity and justioe in the largest sense of those terms, or in gratitude or chari ty. Independent of express constitutional restrictions, it can make appropriations of money whenever the public well being re . quires, or will be promoted by it; and it-Is tbe Judge of what is for tbe public good. It can, moreover, under tbe power to b. ry taxes, apportion the public burthens among all the tax-paying citizens of tbe State, or among those ofa particular section or political di vision. And it cannot be contended hat that those entering the service undergo so many sacri fices, privations and hardships as to entitle them to some compensation and consideration at the hands of tax payers, even though, they may not have a legal right to demand it, and although they may be only discharging their individual duty to the Government for the canmon good. In the language of the de cision quoted, they “have a demand founded in equity and justice in the largest senes of these' terms,” and they,-by being in the ser vice, relieve those at home from the sacri fices, privations and hardships which they themselves endure. It is also contended that this law is a vio lation of section 5, article 9, of the Constitu tion, which provides, The corporate autho rities of counties, townships, school districts, cities, towns andvillagcs may be rested with power to assess and collect taxes for corpo rate purposes." Ido not deem it necessary to decide this question as the view I take of the law does not render it necessary. The questions, therefore,-as to whether this tax is for a corporate purpose of the town where levied, and whether the language is prohibi tory upon the town from levying taxes for other than corporate purposes, becomes im material. The lax to be levied, under the law now in question, is levied and collected by direction of the Legislature, and not by direction of .the township. Upon the happening of a ccr. Uin contingency, or, rather, the performance of certain acts by individuals, as specified in the act, the law declares the tax shall be levied and collected, although the amount is left to the judgment of certain officers of the town. Nevertheless, the language of the law! is imperative—lt is the mandate of the Legislature, not of the town, and the town can no more avoid this duty than it can re peal an act of the Legislature. The fact that the law directs this tax to be levied and collected within the limits of the town, does not make it a tax levied by the town, neither does the iact that certain town officers arc designated as the persons who are to perform certain duties under the law. This is a tax directed to be levied by the law-mak ing power of the Si ale, and not of the town. It is true that individuals in the town set the machinery of the law in motion, If I may so &hut that cannot make it a levy of y the town, orby auyolher.body than that of the Legislature. This view is tally sustained in cases in IS Barb., 615. and S Kcr.. 143. • * In this State there la no limitation upon the powers of tbe Legislature to levy, or di rect tbe levy, of taxes, except that It shall bfc done by valuation to be ascertained in a speci fied way. Where there is no constitutional prohibition, the power of the Legislature Is supreme in respect to taxation, aad cannot be controlled by the courts. Entertaining these views of the constitu tionality of the law, the injunction must be* dissolved, and tbe defendants allowed to pro ceed to issue the bonds and levy the tax. An Unkind Hit at the Rebels Abroad. IFrom the Richmond Dispatch, Feb. 23.] The tendon Inda, a Confederate Journal published in England, says that the war is -reaching such a crisis that England and Trance must decide to become the friends of one of the or to fight them both, and that events are Deeming which may pre cipitate that decision, especially with France. In the meantime the Inia bids the friends of the South to be of-good cheer, and promises them shortly a series of agreeable surprises. We trust the friends of the South in En gland need no such Invocation. If men can not be Of “good cheer” Who hate such a bill offtre a» Confederate* abroad sit dorra 10, Ihclr spirits must ha.vary to* mde .d. What ths “series of agreeable untptife* • is, which (hs Trda we »rc usable to imagine. Wears not so demented as to accept English or French intervention after so many disap pointment!!. Perhaps the “'Cries of agree able smprlfes" may he <M re am ofthU Sirora ed country, one after another, to the Coofxleraleo abroad. ' I'K .hit ES»KB. Proclftsnattoa /of JJjJ® Gov ernor Jobbwo. The last act of Gov. Johnson, before leav er Nashville for Washington, to .assume the duties of the Vice Presidency, was to issue bis proclamation declaring Tennessee a free State, in accordance with the .act of the re-, cent Stole Contention, and the vote of the people ratifying it* on ® ie amendments, which were voted upon and adopted, a r e virtually ob follows: Section 1 provides that slavery and invol untary servitude, except as a punishment for crime, whereof the party shall have been duly convicted, are hereby forever abolished and prohibited .throughout the State. Section 3 provides that theLcgislature •shall makeno law recognizing tho right of property in man. Section SI, in the old Constitution, which provides that the “ Legislature shall have no “ power to emancipate slaves without the “ consent of the owners,” is repealed. The declaration of independence,” dis solving the relations between the State of Tennessee and the United States, passed in 1861, Is declared null and void. The league enfered into between Tennessee and the Confederate States Is; declared on act of treason and usurpation, and therefore null and void. The statute of limitations is suspended from the Cth day of May, 1861, until such time hereafter as the Legislature may prescribe, and in actions of tort which have been, or maybe hereafter brought, the court shall have power to proceed to judgment without personal service of process, until the Legls. latnre may choose to change the law. The military league with the Confederate States Is flßlarcd an act of treason and usur pation, and null and void. All laws passed by the Legislature of Ten nessee after May G, 1801, and all debts creat ed or contracted in the name of the State by the Legislature, ore declared unconstitutional and void. The Governor and Legislature, under the new constitution, will bB elected on Saturday next, tbe 4th in&t., and will meet at Nash ville, to be inaugurated, on Jfonday, the Ist day of April, to continue In offloe until 1867. In dosing bis proclamation. Gov. Johnson says: 1 sincerely congratulate the people of Tennes see on the happy malt of the election, and the opening prospects of a speedy and permanent re organisation of the State government. For near ly three years, in the midst of dangers and nlQi cnltles the most complicated and perplexing. 1 have earnestly labored to restore the State to its fomerprood position In the Union. Uy con stant effort has been to save It—not to destroy it; tint the rebellions sentiment of the people often Interposed obstacles which had to be overcome by military power. Ihe task was painful, hot the du ty has been performed, and the result has passed into history. Time, lam happy to say, baa great ly calmed the passions of the people, and experi ence restored them to reason. Ihe folly of de stroying their government, and sacrificing their eons to gratify the mad ambition of po litical lepders, needs no longer to be told to the laboring masses. The wasted estates—rained and dilapidated farms—vacant seats around the hearth stone—prostratebu?lne?s—insecurity of property,- and even life itself, everywhere proclaim It in lan guage not to be nusundentood. But all Is not lost. A new era dawoanpon the people of Tennessee. They enter upon a career Liiiocd by reason, law, order, and reverence. The reign of brute-force and personal violence has parsed away forever. By their own solemn act, at the ballot box, the shackles have been for mally stricken from the limbs of more than 375,000 slaves in the State. The unjust distinctions In society, fostered by an arrogant ori«tocracr,baied upon human' bonoige, have been overthrown; and our whole social system reconstructed on the of honest industry and personal worth. Labor shall now receive its merited reward, and honesty, energy, and enterprise their jost appre ciation. \Capital heretofore timid and distrustful of success may now confidently seek remunera tive and permanent investments in the State. Public schools and colleges begin anew their during basis. The foundations of society, under tbo change in the Constitution, are in harmony with the principles of free government and the Nations! Union; and U the people are true to , themselves—true to the Bute—and loyal to the Federal Government, they will rapidly overcome the calamities ot the war. and raise the State to a power and grandeur nqt heretofore even anticipa ted. Many of Us vast tcaourcea lie undiscovered, and it requires Intelligent enterprise and free labor alone, to develop them, and clothe the State with a richness and beauty, surpassed by none of her sisters. A LETTER FBOtt GENERAL BIIEBttAV. Hits on tbe Causes of tbe War and of Its Inevitable Results, The following letter from Gen. Sherman has just been published: lIBADQUABTBRS Mll~ DIV. OV THt MISSISSIPPI, ) lsTnKFzxtn,nearllarietta,Ga.,Jiacßo.]B&L f Mrs. Anna Oilman Bowen, Baltimore, Md.: Dear Madav—Your welcome letter of June 18th came tome here, amid the sonnd of battle, and, as von say, little did I dream, when Iknewyou play ing as a school-girl on Sullivan's Island beach, that I should control a vast army, pointing, like tbe swarms of Alarlc, toward the phms of the South. Why, oh, why la tblat If I know my own heart, U beats as warmly os ever toward those kind and generous fimllies that greeted ns with such warm hospitality in days long nasi but still present in memory, and to day, were Frank and Mrs. Porcber, and Eliza Gil man, and Mary Lamb, and Marcaret Blake, tbe Barksdale?, the Quathls, the Pryors, indeed any 4pd all of onr cherished circle, their children, or even their children's children, to come to me as of old, the stem feelings of duty and conviction wonld melt as snow before the genial sun, and I believe X would strip my own children tbst they- might be sheltered; and yet they call me barbarian, vandal, and mon ster, and all the epithets that language can Invent that are significant of malignity and hate. All I pretend to »ay, on earth as in heaven, man must suimit to »ome arbiter. He must not throw off bis allegiance to bis Government or his God with out just reason and cause. The South, had no cause—not even a pretext. Indeed, by her un justifiable course, she has thrown away the proud history of tbe past, and laid open her frlr country to the tread of devastating war. She bantered and bullied ovtotbe conflict. Dad we declined bat tle, America would have sunk back, coward and craven, meriting the contempt of allananklnd. As a nation, we were forced to accent battle, and that once begun. It has gone on liJJ tho war has assumed proportions at which even we, in the hurly-burly, sometimes stand aghast. I would cot subjugate the South in tho sense so offen sively assumed, bnt I would make every citizen of tho land obey the common law, sub mit to the same' that we do—no worse, no better—out cqusU and not our superiors. 1 know, and yon know, that there were young men In onr day, now no longer young, but who control tbeir fellows, who assumed to the gentle men of the South a superiority of courage and manhood, and bo&tUngly defied ns of Northern birth to anna. God knows how reluctantly we ac cepted the Issue, but once the issue joined, like In other ages, tbe Northern race, though slow to an ger, once aroused, are more terrible than the more Inflammable of tbe South. ■'Even yet my heart bleeds when I see the carnage of battle, the desolation of homes, tbs bitter anguish of fami lies; but (ho very moment the men of the South say that instead of appealing to war they should have appealed to reason, to onr Congress, to our courts, to religion, and to the experience of his tory, then will lady Peace—Peace; go back to your point of error, and resume yonr places as American citizens, with all their proud heritages. 'Whether 1 shall live to see tola period Is problematical, bnt yon may, and may tell yonr mother and sisters that I never have forgot one kind look or erecting, or ever wished to efface its remembrance; but In patting on the armor of warl did U that onr common country should not perish In infamy and dishonor. lam married, havd a wito and six children living in Lancaster, Ohio. My course has been an eventful one, but! hope when the clouds of auger and passion are dlipcreed and truth emerges bright and clear, you 'cnu*ip who knew me in early years will not blush that we were once dear friends. Tell Eliza for me that I bone she may live to realize that the doc trine of “ secession V is as monstrous In our civil code as disobedience was in the Divine law. And should tho fortunes of war ever bring you or your sisters or any of our old clique under the shelter' .of my authority, I do net believe they will have cause to regret In Give my love to your children and the assurance of my respects to your honored husband. Truly, W. T. SggRMAK. THE STATE FAlft AT CII 1« €AGO. Two Tlowsof the Subject. [From the Stale Journal.] No little dissatisfaction is being expressed In Southern Illinois on account of the loca tion ,of the next Annual State Fair at Chica go Instead of some central point, and it is al ready proposed that steps shall be taken to get up a Fair for Southern Illinois. A corres pondent of the Belleville Advocate writes as follows: *» 44 Chicago is not centrally located and the pao .pie of a large portion of the State live at so great a distance from it that but few can attend. “.Illinois has two millions of inhabitants, and can sustain two Pairs—at Chicago, sod tat either East St. Louis, Central!* or Cairo. We, down here, fcclprond ofChicago, but we are not dis posed to Believe it is the only suitable place foe bolding our Stale Fairs. 44 We most organize another State Fair In the South part of tbe State, and locate it aa above mentioned. The cost need not he much. At East St. Lome tha peopie of Missouri could better at tend It than the Fair Grounds West of the city. The crossing of the rlrcr would be nothing, aa half price only would be charged. ■ 44 Now, Southern Illinoiana, are yon willing to aee your rights taken away by Chicago? “ Cojoioh Beuse. Belleville, Feb. 92, 1865.” It is scarcely to be doubted that a Fair at East St. Louis or Cenlralia would be largely patronized by the citizens of the central por tion of the State. Wc think the locating of the State Agricultural Society have made a grave mistake in not seeking a more central location. [Prom the State Register.] v»c have been at some pains to ascertain the reasons which influenced the committee of the State Agricultural Society in locating the State Fair at Chicago. A correspondent of*the Belleville Advocacy in a recent nnmber ol that paper, complains of that action, and, seemingly censured the locating committee. ■With what injustice the complaint is made will be apparent when we state that no citi-, zens of southern Illinois, or of the south half of the State, expressed to the locating com mittee any desire whatever to have tno fair held therp. No propositions to that committee except from JacK»'mvUle, Decatur and Chicago, and none but that from Chicago offered to guarantee a fulfill- 1 ment of the uniform requisitions of the State society; although tbc specifications were ad vertised for weeks tn the St. Louis, Spring field and Chicago daily (papers, and corres pondence bad with many prominent citizens of southern Illinois in regard to the matter. ’ The committee, and indeed the whole board of the State society, would hare been glad to hold the next two fairs lu southern Illinois, out they coold not do so without even da in vitation, unless they had chosen to incut a liability of £20,000 or $60,000, in preparing the grounds and fixtures. The last two fairs hare been held in the ctnlcr, a«d unless the locating commllloc wee prepared to locale it permanently, for which they had no authority whatever, they certainly hod no choice but to accept the only offer wbicu proposed to comply with ihe us ual requirements for holding the annual dxhl bitkn of the society. Three Canadian* Come to Grief. Wo loam from the Buffalo OwmVr that throa Canadlana-Charles and Edward Daria, eons of Sol. Daria, keeper of the “Mnuenm" Hotel, the cno occupied by Vaffandigham as hia headquarters for a long time, at Niagara Palla, Canada aide, and one Chatlua Thomp aon—were aneated to that city on Saturday last’, for an attempt to encourage bounty jumping. The Canucks were locked up, and will probably hare to suffer for their crime. This misfortune to the Daria boys is undoubt edly the result of eril associations. UNINCIAL iNB (mMEEMMi. BONETABr. Wedmesuat Evwnfo, Match 1,1965. Gold 18 again on the downward grade, and corn* tnerciol values sympathize with It To day wheat declined2c perbaahel, and oats *cper bushel; but provisions, In consequence of a reported re duced stock In New York, were decidedly firmer, and on barreled pork an advance of 50c® SI.OO per barrel was established. In monetary circles there was uoinew feature exhibited. Tbe supply of currency was in closer proportion to the demand than for several days past, and we quote tbe market easier, bat never theless close. The discount ■ houses accommodat ed the public rather more’ freely at 10 per cent per annum, and rates on the street were easier ranging from I*@2 per cent per month. Eastern exchange continues and the market is very firm at par baying, and * premium selling. Several of the leading banks had to ship Treasury notes to-day to meet their drafts. Gold opened in New York at 300*, and closed at 4:00 p.m. at 199*. The following ore tbe quota tions telegraphed to James Boyd, gold-broker: 10:30 a. m 200| 2:00 p. m 200} JMfa.m 200* £4up.m 19 9* lUSO a. ta 200* 3:00 p. m 199* 12:00 m .900* 3:45 p. m... 100* 12:30 p.m 800* 4:00 p.m 199* 1:30 p. m Here the gold market opened on the street at SCO, declined to 199 and closed at!9S*. On the Stock Board TTopencd at 200*,-and closed lathe afternoon at 19S*. Sliver la doll at 195. , Cook County Scrip was more active but with out material change—the sales on the Stock Board having been at a range of 83®S3*. Bonds were steady. Five-Twenties were active at 110 baying and 111 selling. Ten forties, ex. dir. 97 bid and 97*®97i asked. Collector Haven at the Custom House is redeem ing the coupons of tbe Ten-Forty United States Bonds in gold. CHICAGO QUOTATIONS. The quotations for Gorcrmnent Securltic9, it 13 o’clock, noon, by Preston, Willard & Eeas, Bankers, 47 Clark street, were as follows: Buying. Selling. U. S. 6aof I3SI llOijUlt V. 8.5-20 a (old)'”! i.’llC}©!f<‘| fIT©UU IT. S. 1(M0» (ex-coupon) , © 97i 93J© .. D. S. 7*308 (new) to dealers ©.. .. © 99J U. S. 7.30s (new) for »ub 09|@ .. .. <& .. C. S. I year Certificates © © 98 C. 5,5 $ cent 1 and 2 year Le gal Tenders..'. 103 ©lO4l •• © .* U. S.IQ-40 Coupons, doe t0day....... day....... 198© .. .• @.. Cook County Scrip (new).... 81 © 83} 84 © .. U. 5.5-2Cs (new) HO @ .. Ho|@llol Mesars. Preston, Willard & Kean pay the lute* rest on JO-4fia dae to-day, and on all Government bonds when due. We understand that several 'suits have been en tered against the various railroads leading from this cliy to the East by shippers of provisions for damages Incurred by delays in the delivery of pro duct sent forward. At no previous time In the history of railroading has the public been so gracefully served assuring lbs past winter * Fork that was shipped daring tho latter part of No vember and in December for New York baa not yet reached its destination, add parties who shipped'product to meet contracts have met with heavy losses ta consequence of the failure on the part of the railroad company to deliver within a reasonable period. The New York railroad cor porations have been so eager to carry pork from Louisville and Cincinnati at 51.00 per 100 lbs, that they nave piled the Chicago freight,-for which tbey were paid $1.50®1.60 per 100 lbs, In their way depots, so as to be able to take all they could from the Pennsylvania railroads. —in another column will be found the advertise* menlofMr. Rufus Hatch, gold and stockbroker, New York, to which we call the particular atten tion of tboeo of our readers encaged in that busi ness. Mr. Hatch was for many years an active member of the Chicago Board of Trade, and his character for shrewdness and industry is well and thoroughly established. Wo have no doubt but all orders sent to him from this city, either to buy or sell gold or stocks, will meet with especial care and attention. The Financial Commute* of tbe rebel Con. gressbas sgresd upon a scheme of revenue and taxation which demands at Jeast a passing notice. It is proposed to raise three hundred millions by a tax In eutrency equivalent to one and one-fifth per cent In specie, on tbe old assessments of gen* era! property. Incomes and trades are to be taxed to tbe tnne of one hundred and fifty mil lion dollars. And, in addition to this, the present tithe on product la to be continued. The gross totals from these Imposts are computed at five hundred and ninety million dollars. Bn£ this tails altogether short still of the demands of Davis' Exrhoqn«r. Foar hundred and seventy millions, extra sre needed to carry on the war for another year, and this is to be got at by the issue ofhon taxable six per cent bonds, and from the sale of Government cotton on hand / —Hon. Henry C. Carey U writing a series'of articles in Che Philadelphia Xorth American, in tbe shape of letters addressed to Hon. * Schuyler Colfax, advocating the continuance of the issue of Treasury notes and a further expansion of tbe paper currency. If Mr.. Carey will prove that by pouring a gallon of water Into a barrel containing alcohol, he can get more alcohol out of the barrel ihan was contained In it before tbe dilation with ' water took place, he may also succeed in proving that there Is as much money in a paper dallar when it represents fifty cents in gold as when it represents one dollar. On this subject a pamphlet haa'bcen written by Bon. Isoaqßucbanan, of Canada, in which ho ad vises the New Federation of British America to adopt the paper money system of tho United States. Ho says: », Before leaving the subject of paper money, I dchlro to make an .explanation, in regard to the absurdly depreciated paper money ortho United States in reply to your quasi eneor as to tbe warn ingwe may take from ibis. Tho experience ot the United States confirms me Ini ay confidence In paper mqney. But for necessity causing the . adoption of emblematic money by tho Americans (for there was not a particle of independence or intelligence in the step) there would have been distress in the United States such as the world never has witnessed, and if the Americans are so Ignorant as ever to go back to “bard money" the same dreadful consequences will be the result; 1 have no doubt, however, that, taught by expe rience, they will retain “paper money" and value It as their finest and most patriotic Institution, ‘ and as of Itself ample remuneration to American Industry for all the blood and treasure spent in the war. —A private letter from Frankfort, In Germany, says: “There continues to be a great demand for American securities still la this market as well as In Amsterdam. On Friday everything was bought up which was offered. The-Rothschilds were very large buyers, whether for them*elvea otupon orders we do not know. The price is three per cent higher than New York quotations, and that in gold. It most bo comfortable for Secretary Fessenden to know that Unde Sam's paper is worth three per cent, more here (or about seven in paper) above the price at home, and a good de manqattbnt. It seems a pity that Mr. Fessenden could not sell some in this market as well as la New York, bat it seems the'law docs not author ize it," —The N. Y. Commercial Advertiser says that large amounts of unemployed funds aro In the hands of brokers and commission houses, and offers on temporary loans are made at belowtho current rates. —Tbe returns of the banks of Boston bn Mon day last compare with their statement of tho pre vious week us follows: Feb. Feb. SI. $33,609,664 23,533,*79 3,087,996 2,039,669 11,031,733 10,621,322 6,845,912 6,091,370 Loans Specie Deposits.... Circulation. —The Customs received In gold by the Treasury in the month of January were: At New York *4,^16,899 Other Atlantic Porta 1,2H,177 Together *5,480,576 The FaciQc ports, when heard from, will proba bly add from $500,000 to *530,000; raising the,total to about six million of dollars. In February they will reach from $4,200,000 to $4,300,000 at Now York, from present appearances. To the close of business on Thursday last (hey amount to *3,588,- 574, with four working days in tbe month to be added. This upsets completely tbe predictions of “bull” operntops that the Government will hare to go Into the market to purchase gold to meet the Interest on Its bonds. —At the annual election of officers of the Da buque and Sioux City Railroad Company, James Robb, Esq., was chosen President, and Mr. Platt Smith, Vice President. —Of American stocks Satterthwalte's London Clrcolarsays: “ There has been a larger amount of business transacted in the London market for American securities than during any week for a considerable time past. United States live-twenty bonds improved at one time to 55, but on a htzher rate of exchange being reported from New York per the China they declined to 50, from which point therohas been a slight reaction toso#@sl. Erie shares remain steady, but PUnoU have given way $2.00. There has been aa Improved demand for Atlantic-and Great Western bonds ol the Pennsylvania section which were quo ted SI.OO higher for both first and second mortga gcs." —paring the week ending February 18, twenty new National Banks were authorized, with an ag gregate capital of *4,465,000. The number of Na tional Banks la operation Is eight hundred and fifteen, with a total capital of *137,363,000. —ln Boston there are forty-two banking institu tions, of which twenty have organized under tbe National Banking Law, showing the. following distribution of capital under the respective sys tems: KaUonal State Banks, Difference. —A recent statement of the condition of the rail roads of Pennsylvania shows that the total amount of the capital stock paid in by all the companies in that State is $144,182,579, and their aggregate floating and funded debt ajponnta to $37,000,000* The cost and equipment of the roads OCO. The receipts daring 1864 Were $33,000,000, and the erpensca $30,000,000. —The traffic receipts of railway? in Great Britain amounted, for the week ending the -Ith of Februa ry, on 11,792 miles, to £571,314; and for tho cor responding week of last year, on 11,400 miles, to £050,444, showing an increase of 3W miles and Of £11,670 in receipts. . .. —Quite a breeze has sprang np amongthoNa tionnl Banks of Cincinnati la consequence of their receiving X per cent more commission on sub scriptions to the Seven-Thirty loan than otbera. -The foreign exports from Baltimore, tat week amoflUetd to $15»,33t. The total rains'of foreign exnorta from Portland lor the wejfe end-- log February 18, amounted to 3W. The total ralne of exports of produce and general msrdun. dUo ttom Boston, including specie, for (bo week ondlog February 17, was $427,933, against $171,333, for the week corresponding In (ho previous year. —ln New Oceana Treasury Notes command a premium ofl@ttfpcrcentover “City Treasury Notes,” which constitute the general median of exchange in that city. —The following table shows theS*ato debts of ten of the loyal State* of the Union Pennsylvania Massachusetts Ohio Illinois Now York Maine Connecticut I Michigan ! Wisconsin A Vermont CHICAGO STOCK KXCHANRE. Wsokssoat Emma, March!. 8V55150 BSSSIOV. The following dispatch , .were received from New York during the session: 8:50, 9:20,103t: 9:40, The sales were: soo os si mi SCOIO-40 97* j.ooo Gold iin* 1.000 “ 196* 1.000 “ 193* 6.000 « a 10.,..193 8.000 “ 1981 6.000 “ .b 8 ....1951 6.000 “ 193* 6.000 “ ..,.196* 8.000 * s 10....193 New York Sti Coates prices for cub, Us 6. Saltoostall * Co., Coo Brokets, 2t Clark street, Cb. Ist Bd.zdßi. I NT. C 114 113* I C.&N.VT 51 34 | C.*N.W.otd. 63w fiWfl Rrte (com) 73 4 2X I Em r« Cl 90* 1 C * {uta 79* 77H I M, 8. (ccm.)... fc6V >6 M.S. (ztd) 130 J B. MX M.C. lI2K 111* C. 91X ....! C.&A-tefd).. Wtf .... 1 Hock Is lon J... 06* Bx B.*Q. 116* 118 I quicksilver-... Wk Mk I Market—Ut Board weak. THE SECOND NATIONAL BANK. Of CHI CAGO, IT. S. Fiscal Agent, and actnt of Jay Cooke for re ceiving s&bfcrlpttans to tbe popular 7-30 Tr-V'Ufv Note*. Thus note* are tree from taratJ<.tj. both Strte ami municipal, ate tbe only Government Secu. rides now open to »utacrl»Uon, and at tbs present price ol3’«0a and mb' r U. S. Bon' a pay tbs hleboit rate of Interest to tt e Investor. All rive Per Cant. LEGAL TKNDSK NOTES, arlth accrued Interest to date ot deposit will be received Inpayment lor sav tcztefonv when assorted accords* to d«e and sc ccmpanicd b? Utt. Liberal srriagaiDeaa «ui be made with Cank* acd Bankers. J. A- ELLI3, Prudent. g.I.TWKHAM, CS3h!er. COMMERCIAL. Wkdsksdat Evening, March 1. The following summary show* the movement of produce and Precisions daring the put twenty four hoars: EXCUPT3 ASS SBIFJCBSTS tor trb past 24 HOURS. - fJocetred. Shipped, Flour, hrb 1,523 QVjr Wheal b« 8.111 1,80s 7 Corn, on 12.295 6,6 a OatThu,..-. 05,166 12,2 M Bye, ha »725 400 Barley, bn WO 853 OrflM Seed, ha 11.806 123,677 KlaxSeed, bn- 20,000 Corn,lbe Cot Meats. Ms 233,172 553,647 Pork, brio..'. ■ 884 lord, S)9 - 257 350,322 Tallow,#* . 6.015 79,541 Batter; lbs 6,233 23,319 Dressed Hogs, No 414 *' 133 Live Hogg, No 3,211 S3C Cattle, No 445 92l □idee, . a 64,156 23,022 HJcbwinef*, brls 29 Wool,#*, * *19,979 17,166 Lumber, feet 77/ TO 830,000 shingUs.No*. . 142,000 720.000 Lath, No. ji.... 76,000 Salt, brls 740 There was a good. attendance on 'Change, but owing to the decline in gold produce markets'ruled weak and lower. The Provision market, however, was decidedly firmer—chiefly owing to more advices from New York,' and the announcement of the stock of Barreled Pork on hand-,to-day In that market, which compares as follows: March Ist, 1865 .123,660 Barrels. Feb. 18L 1865 155,000 “ March lat, 1864.... 96,246 “ March Ist, 1563..7/. 93,610 “ It Is urged by tbe “bears" that tbe falling off in the stock tbla month. Is entirely owing to tbe fret that but little of the pork shipped through to New York since the Ist of December baa reached there yet, owing to detentions on the railroads— one shipper averring that one lot of 3,000 brls sent from this city on tbe S3d of November lari wasnowlylng ; In Buffalo. It was also urged by the same Intereslthat the present “splurge" In New York is owing to the failure of these ship ments to reach that city in consequence of which parties who sold short for delivery on the Ist of March have had to boy in, so os to be able to de liver promptly. Notwithstanding all this, how ever, the market for Barreled Pork here was de cidedly better. Mess Pork was in fair request and very firm, with sales of 400 brls city packed at sJ2Afl®33.oo. The demand is chiefly for well established brands, which are mostly held off tbs market. Prime Mess Pork was in active request at an advance ot Coc@tSl.Qo bcl, with aalea-fif 1,800 brls at s29.66®36.W—closing very firm at the outride quotation, sellers generally holding at $31.(0. Sweet pickled Hams were In good de mand at Ift&fTc, ou‘C ?boice brands are held for bibber flyuicn. putt Meats are quiet but firat. Lard was quiet but firm, wiii light sales of. kettle at 22c, and No I Lard at 20* c. The demand for Lard la very light. Dressed Bogs were quiet and unchanged, with light sales it 13@13|—chiefly 33®18L dividing on 2 00 Tbe. Highwincs were |@Jc hlcher, bnt less active, with sales of SOObrls at $2J2J®2.13. There was a fine inquiry for Flour, but the mar ket was lees active and scarcely so firm. We note sales of 1,000 brls choice Spring extra on p. t. Some other lots of extras—probably 20) or 300 brls—changed hands hut tbe particulars were kep quiet. Wheat was dull and 3®2Jc lower, with sales of 43,000 hu at $1.42 for Chicago extra; $1.35i®1.86 forNo I Spring, and $1.22 for No 2 Spring—all in store—closing quiet but firm at $2.35) for No 1 Spring, The demand was mostly to fill “shorts.' There was lees business dons in Corn, hut wo note an advance offoily 4c $ bu, with sales of 7,200 bu at 87c for No. 1 In store, and 76® 77c for rejected—closing firm at the outside figure. Oats were quite dull and we note a decline of i ®4c, with sales of 23,000 bn at 69@59Jc for No. 1— the outside for fresh lir A. D. & Co.'s. . The mar ket closed quiet at 69c. Rye was quiet but a shade firmer, with light sales of No. 1 in store at 98c. Barley was dull and dragging, with sales of old No. 2at $1.13 in store, and sample lots at sl.ol® 125, delivered. Seeds were steady and firm with sales at $4.40® 4.90 for Timothy ;’512.80®18.75 for Clover; $2.65 ®2.70 for Flax, and $1.75 for Hungarian, Cattle, to-day, with quite liberal receipts and a fair demand on Government account, were more active, and the bulk of the Cattle received found ready soles. There was no improvement in quo tations from yesterday's prices. Hogs were in limited demand except for choice ftt Hogs, very few of which were arriving. Quo tations were fully sustained. Quite a number ot stock Pigs were sold, bnt at low figures. The re ceipts were light and bnt few left over. LATER. Wheat was dull in tho afternoon, and limited transactions were made at f 1,3J|®1.554 for No. 1 Spring—a decline of i®|c on the closing prices of 'Change—the market closing quiet at $1.355. Provisions were firm, with sales of 500 brls Prime Mess Pork at $30.50—a favorite brand. Whisky nominal at $2.13®2.33}. The Fourth of March. Chicago Stock Excuaxqx, March 1,1805. At a meeting of tbe Chicago Stock Exchange, this day, it was unanimously SescUed, That there be no session held on Sat urday, March 4, but that we observe the day as a Notional Holiday. All deliveries falling due on the 4th and 6lh must bo made on Friday,ttje Bd. Solon MoElbot, Sec’y. Explanation—Turner & Nicoles. Wc arc requested by Messrs. Turner £ Nicoles to state that the discrepancy between the returns of the hogs and cattle slaughtered by them, made to Megan. Mllward & Co., for the season, and those to the IT. S. Assessor for Sept Ist to Jan. 3Ut, la owing to the fact that the differences were slaughtered by them during (he summer months, and consequently did not appear on the Asses sor's books during the time mentioned in our summary published on Tuesday morning last. MARINE. Interesting to Vessel Owndfa and Shippers, Messrs. Smith, Kelley & Ca, ofForestcr, Mich igan, arc extending their pier 200 feet farther Into the lake, with a depth of It feet of water. This becomes necessary owing to the low water now existing ItflAke Huron, which our shippers had good reason to remember last summer. MEETING OF PRODUCE BROKERS. Pursuant to adjournment a meeting of the Produce Brokers was held yesterday afternoon at the Beading Scorn ot tbe Board ot Trade. • Henry Mllward occhpled the chair, and J. P. Law* recccwes Secretary. Alter tbe meeting had been called to order, the chair stated that tto purpose of the meeting waa to ■ take action on the report of the committee appointed at a- previous meeting, which waa published at the tlmeia the Tctnuax. On motion the recommendations embodied la toe report were taken up seriatim. The first clause requiring sellan In all local trade to pay brokerage, raised considerable discussion, and on motion the clause waa finally stricken out The second section was amended by including the recommendation of weighara to the Board of Trade and Pork Packers' Ahoclallon. The recommendation*, u amended and adopted, now read * a follow* .* f First Tb*c each ataocittloQibonla enact fuebmlPt revalue rates ot brokerage charge*, and mat Ute Board of Trade be requeued to Incorporate me above le their b? laws, ana make them binding. Second. That the *s eolation should have the power .torecommend Iripcctor* of Brorulona and Weigher* to the Boarc or Trade and the Berk Packers’ Aosocia. ttos.wtxo«ecertiacatee and decision* aboil be flail la all ease*. ■». Third. That tbs members ol this association. shall not purchase irom or sell to any broker who violate* any of the ru'eror regulations or the association, aid that any member who Shall violet* any one of the s&me sh*U be reported and expelled la disgrace. Fourth. That the by- tvs of such association should bo so formed «s to require the s rittest uprightness upon the part of It* individual member*, govern and control Us attain la equity to all, and protect the members from burdensome decision* ana unjust de mands from ruling* by precedent, where questions arise as to compensation, &c.; and that the obliga tion of brlncipi’a to sanction'and fully rttlfy the transactions of Brok*rs. where these transactions shall coffip.y with Instructions, should be c early de fined; ana laftevtid misuudmtandlogk, we recoin mendthaii^. distinctly understood and expressed that wcriY>>‘i all ortfexs In force until withdraws or otherwise modified. Fifth. And wb would further recommend for the consideration of the meeting, the *rtTU»bfiltyof ts tabllsbmra Board of Brokers who couid hold daiir »• (if* -•'>'s nol interfere with tn., meetings * t the Board ot Trade, and wh-re oarc-ns-a tar sal s could bo made on call, in a manner to tbe operation of the Stock Exeb&nz* * that ws be lieve this would beprouncUve of rrcataivmUse aad pqaTculcncCi t» Ihu pUota of bkslaess, parties! afly Capital. 127,950,000 ifrootfoo $10,150,000 Oie iklcrchf-nt*. ore «o dfefeat salwltely «nsn ihstßroker* b »to togaead mooliT-daV»l« Urn t fcOahooir to *.'loo*llo. If U*f CW t M Mire iSolMtrnctlco* of their princip%U.more could tw> ir-started to ora boar Chin It bow tties «aca tTo °S(«V Tb»t wfcrn C ?£o P ors»ai*»tl<>»■J* 1 ' Da t s^ , ted ami thdcoosliiotioaaart Tj-wn made, tu«ta_y bentailfai Cor the •.tncU-’-a and approvil of tho *• Board of TYadp,** aod that they be wtiuetted t* la* corporate ihero la theirra'ee ana refolatloof, maalof them binding oa lUmetaieis* Oa motion, a committee, conalittnr of M*f*- PhU lfP*, PriestJ/, Speare, Fisher, Lanresceand tho Chair, w»s apyotntedto draft a contUUUon and by-law* to b« sabaiUtPd at a fatore meeting. On mutton, sdiooraed.snbjcct to tha ctll oJ tb? com mlttrc. .t39,S!f,«jS . 23,633,07.1 . 13,500.731 . 11,178,511 . 6,273,951 . 5,137,508 . 5,000,008 . a,su,i»o . 2,500,00 ) . 1,611,813 „ C««a»l»*aryAw»nl» atOnclanat). I ><U.9. Commissaryal thi*. post, to-day.awarded the contracts oa propo -ils We ’>”« Iwn aaibis to I9»ra the details of the awards, sod can therefore only gvro the totals, -which areas follows: mm anas pork. Two thousand brls at J3l.Bi® Two hundred thousand fi>a at 17-}oai7'3o *br shoulder?, and 20-oO®*l for sides. FLOUR-f 2.000 brl? fatally (red wheat) at $3.25. 2.000 do do 0.35. 5.000 Gold 1031 5,0)0 *» 1931 2.000 5 8 193 8.000 “ 193* 2,500 w b 15....199 3.000 “ 19S* 2.000 “ 310 ...198 1.000 “ 138* 1.000 “ s 199 8,600 “ b 13....199 In accordance with the Chief CommUnry's late proposals for furnishing flour and hard bread, contracts have been awarded as follows: 5,C00' brls double extra, 53.75 V brl. 5.000 “ “ “ 8.38 “ 10,000 “ single " 7.88 w 6.000 . « ** “ 1M M I,UCO,CCO o>9 bard bread 6.12* V ICO fta. SLdfiCQ 11 “ «■ 5.10 “ Tlae Sugar Cr«p of Louisiana. The New Orleans IYtc« Current has now com pleted its statement of the Sugar crop la thoStite for the past season, and sums up the result In the following recapitulation, comparing the product with the returns for the years 1331-2, before the war: ock Market, irebl.iSSS. Received by F. imiialoa Stock and Bond logo. 2atßd.3dßd. c. *.t ua* in i Hudson Kiver.lMX lUJf I 111. Central....USY I>BX Co*l.. 74 Tix .lu.’SVccWar * i Loan Bond*.. 99 .... | U. 8; 6 V etS-30 Coaptiu..‘...lU .... ■ U.S. 5 H Cent I 10 40 97*x1.... IV. 9.8 * cent Parishes. Orltans...., St Bernard. Ptaquemlne. 2,801 25,453 Terrebonne 426 23,839 Assumption, Lafourche... 8t Charles. bonds- '31....110 V .... !V. S. 7-30* m .... U.S.lyrcert 98* .... Am. Gold 2.0k ÜBk 2d Board weak. St.John Baptist. St James Ascension Iberville Jefferson..,.,, Point Coupee West Baton Bongo. East Baton Roage.. Total. The total crop of 1581-3 was 450,410 hhds, The figures of the Price Currant are sot mere esti mates, tint the aggregate of tbe re tarns from all the plantations cultivated, obtained by the editor from tbe punters themselves, or from reliable au thority. The Molasses crop is estimated at 15,000 to 15,030 barrels, which exceeds tbe usual allow ance of 7o gallons itolasses for every 1000 IDs of Sugar. Referring to the nltn’atlons under culti vation before the war, and to the large outlays in curred for steam engines and the costly machinery used for grinding, etc., the Price Currant says the whole of this, -together with the sugar houses and other necessary buildings, “must inevitably So to ruin, unless liberal {acuities are accorded to sc planters to enable them to reclaim the planta tions now going entirely to waste." The liAto Psxilfin Prints la New York. • The late panic in the market, therefore, is con* Btrnedinto a ridicnlous farce, bat It Is a sore farce ito some. If there was a loss of $50,090 on the sale of 105 cues of Roods at the Boston sale, as Mr. Jordon of the house of Jordon, Mar?b Jfc Co., stated, what most be the loss on some 1,200@1,500 cases disposed of by one leading house In this city, this week. This nearly as bad as giving greenbacks for sliver dollars, bat this Is none of oar business, and we omy note it as an in* cldent. The loss on the Lancaster prints was not qtnte so large as stated by Mr. Jordon,, bat we are creditably informed that there was a loss of s3o,* 000 on the goods, and yet none of them left the city of Boston. They wore purchased by the job* berg there, and yet this is wnat some homes here denounce as Peter Funk business; but it was nothing of the kmd. The Boston Jobbers bad a perfect right to protect each others 1 property, and not have It eacrldced to the whimsical Ideas of New Yorkers. Header, don't wail for onr next is sue, but bny your prints now. Wool In New York— Fab. 23, Wc'have no Improvement to note la the market for this article, either as regards the inquiry or prices current. The demand has been very light since Tuesday, and transactions hive consisted chiefly of email lots, showing that the manu&c tnrereareln no hurry to replenish their stocia. Foreign remains very quiet—the comparative low pries of the Domestic Fieecc rendering it impos sible to move imported wools to any considerable extent, except at mlnonsly low rates—in view of which the market continues to be controlled al most wholly by the Domestic product lx la stated mat the duty on Foreign Wools amounts almost to a prohibition, yet an Increase of the duty on low grades is said to be provided for in .he re vised tarflt The soles since onr last comprise 131,000 lbs Domestic at S3 to 105@106 cents , the latter an extreme rate; 25,000 lbs lub-Wsshed at $1.15; and 20,000 lbs California on private terms. In Foreign the sales were 50 bales Cape a* 50c; 100 do Smyrna, part 10, gold; 40,00(1 lbs Black Turkey washed, S3, gold; 100 bales Meatlza 45:100 do Bue nos Ayres and 80 do Turkey on private terms. [From the N. Y. Dry Goods Eeporter.J But aa respect* the great purports the sale. It moat he pronounced a total failariy.*'lt failed to convinced outside merchants that It Is to their In* terest fo Day dry goods In Boston. Notwlthstaad tog, that literally the whole trade of the country was represented, yet about three-fourths Of the goods were bought by Boston merchants: and only twenty-five per cent were taken by the repre sentatives olNew York, Philadelphia, Baltimore, Cincinnati, Chicago, St. Louis, and other large cities. The sale was simply an Interchange of goods between Boston merchants; very conve nient, no doubt, to the firms interested, as It en abled them to better assort their stocks; but of what consequence to the JiQmepse gathering of merchants who >.3u come from aii quarters 01 the Union fo witness this merely local operation? The total sales amounted to about $3,000,000; of which abut two and a quarter millions were to Boston merchant? and three quarters of a million to the rest of the United Suites. Jicw Vork Provision market. [Prom the ou.';; 10 ? 1 . Tie Port market has rated «*JJ M • • _ e?l i. ir * sales on the spot and for future dctrvwrj “ STe been made at 50 ccnfs per brl. our previous quotations, hut at the close (hade flmar. and part of the decline waa recov ered; the sales have been moderate bo th on the spot and to arrive, comprising 8,500 brls. on *ke spot. including 4,t0) brls yesterday at $85.75 for new Mess, cash and closin’'’ at the outside price, $31571®533.25 for old; also, 7,000 do new Mess, for March and April, at *32.25 ©536.75, buyer’s and option. Beef has been doll, bat prices are nominally' the same; we note ealee of 1,600 brls at slß@*« for Mess, and f21@524 for extra do. Beef hams have been In fair request; we nole sales of 600brls at 125,23® 127.50. .Bacon has been In moderate demand bat closed dull; the sales are 2.500 bxa., part yeslerdiy, atl9l@2oJc for Cumberland cur, lOjc for short cot bams, sfljcfor lons do., and 21|c for short ribbed. Cut meats have also been in fair re quest, with sales of 900 pkgs at 17®18c for sbonl dvs, and IB@2lc for bams. The demand for lard was active on Thursday, bnt the market yesterday was quiet, bnt firmer. We note sales of 6,000 brls «nd tres, on the spot, within the name of 20ia aijc, closing at 34*@24|c for prime; also, 1,800 doT, deliverable in April, May and Jane, at 24J@24Xc. Hogs are quiet at iGi@l7Jc for western. „ . , Bccelpts since onr last— Pork, pkes 399 1 Lard, pkgs 1,235 Pork, brls 215 f Lard, brls 106 Bec££kgs ICO j Cut meats, pkga.... 1,473 Export, frirmiat'toSlatFeb.— ISGS. ISW. Beef,trcs. 4,738 4.354 Beef, bris £425 £s3B Pork ... 9,879 „ 8,139 Lard (equal to)kegs 63,887 * 50,354 New York Wheathlarket—Feb. *>s, The market for wheat has continued doll, and with limited transactions, prices have tended in favor of the purchaser. There is no foreign de mand, and the small sales noted have been to sup ply the wonts of the local millers. The sales foot up 25,000 bushels, including 10,000 bushels yester day,-at $2.25 for western red; and $2.60 far white. Clover remains very firm, with farther sales of 400®600 bags, mostly for export, at 25@53c. For Timothy there 1s a little more inquiry, with sales .at55.75@0.60; 50 bags very choice sold at $7.00. Bough Flax la without movement; we quote $3.50 @3.60 1(0 bags Canary sold on private terms. The linseed In Boston, noticed In our last, at $2.10, gold, was taken on speculation; we have • heard of no sales since CHICAGO CATTLE MARKET, "WaDjntsDJiT Ertfixo. March 1,1553. BEEF CATTLE—The receipts 10-Qif were quite liberal, and with a gooddamaod tie market was quite active. Ihc figures realized to-day were no better than thoeeoryesterday.li as good, bnt there was noma ttrial change. There were but few Cattle left over* most of the recelpts.brlnglsg ready sales. Tneywere bought tna'ulv on Government account. The sales to-day foot up .some ijao head, attrom $4 JO tor light steers and heifers to $9.00 tor prime se lected Illinois steers, chlefiy at from 15.0099.00. The sales at the several yards to-day were: SALES OF BEEF CATTLE TO-DAY. « PfMSBUBQH AWngOBrtWATS* TASKS. Gvorge Adams sold O’Shea 12 heal Ugh; Steers, av eraging 048 A* at |5 23 WaliworK & Mallory *cld Keller 14 head, ordinary light sterrs, averaging 914 As. at 15.37*; McGr»*h24 head light coarse Steers, averaging As. at *4 53; Myers 1* head cosrse Steers, averaging IJUO Bs, at *7.15, «nd 13 hesd averaging 1,223 b« at f 7.®: and GO beao rough Ilgot Steers andHclfer/, arerag- Smith fluid FaWflolt IS head prime Steers, averaglas 1,3(0 »s at *BJO. Ciark»oldFawaettl4 bead common Steen, averas ingijss as. atS6.«. Bentley sola ?*wb*U 17 bead common Steers,aver aging 1J319 as at 18 61. Bnoieioid Hyman K2 bead prime selected Steers, areiarlOß 1,501 & i, at |9 CO. > Omdorcsold Boaentball 49bead prime Illinois Steers, averaging 1.220 B-, at S9XO - sormaux takps. Sumner sold Webb 38 head good ateert, averaging 1,031 lbs, at 17,73 Gndley * Co. aold GUler 10 bead common cattle, ay.raclne 870 Bi at tS 6 i>S. Strshorn A Co. sold Morr'a A Co. 80head prime IlU* noli steers, averasingl, 90 Ds, at SB.IO. an* Z'-ieler S3 bead common steers,averaging 933 as. at ifl.uo. and 1U hesd, averaging 1,072 s> a, at S6AO. Webb aold Byman 57 bead good Illinois steers, averaging I,IM B» at SSXO. \oung told WtbO'94 bead prime UllnoUsteers, averaging 1,218 As, at $3 40. BBUBXAX'S TASDS. Comstock sell Daabe 82 bead common steers, av* »glng 1,097 9s, at S7~O. Cooler .old Daabe U prime steers, averaging l.fio af.jijsa. J. Adams sold Kelley 93 bead good steers, averaging 1,106 fl>s at $7.73; 19 bead averaging 1,245 Bt, at $7/75; rnd6obeade r mmoalllinois sV er», averaging 1,113 Bs. at $6.73; and Zelgler, 13 head averaging 887 as, at 55.37 K. Amebiold Lebolt 10 bead good xtee't, averaging 1,0:0 Bs, at $7.63: and Ueban, IS head poor itesen. av eraging 900 »*, at $3.78. HOGS-The market (o-day was quiet, there being but few desirable lots offering. There was no mate' rial change la th* quotations. The demand la chiefly cooflned to smooth heavy hogs, very few of which are arriving. There are a good many stock pigs being aold, hut at low figures. The sales to-day foot up some 1,719 head,* large pro portion 01 which were light stock hogs,* x $5.00®5.*5. The othtr $ lea were ftom SIOXO for light bogs, to sl3 00 lor_£ztra heavy smooth hogs. The male# at the several yards to-day were: “ HOG SAXES TO-DAY. PnrasuaoH axz> rosr watxx taxds. Eellcrt. Anytrs. No. Ar. Price. Bontu-y. Willuina 238 8» $2-W Webb A Phillips. l» 10 * M • Marsh co .......249 & .TZ Adams. do ... « W* M- 1 ? XlCmOiXlOiynraaXTAlKA. Grtdley &Co Ktimg'-r su.oq do .Alexander..-.—.* ?}? «,« do .I.Aiallory. g i* |f*gw enssxAs’a taxps. Gregory k C«...-Aiimtoa ua Strader 8® **; 51 2« W-23 .. 263 W.W W mark, t i« flul*. w!lh riCei P ,J A Mallory sold CrJskTl 103 “*• “ t “ ,i 31MI ' * ,IJ D,TU »«. t3CU **- BACON SHOULSSSS ANU SIDU. Arnriwnnb at St. Loafs. i3&hS J5Bl-9 hhds, hbds. 963 07,760 US *9,7*1 73 19,191 . 43 13,843. . 237 94,234* .1,235 30,722 4£) 41,0-21 303 11, OSS 4 33,563 35 34,697 60 10,9(9 [From the Economut] The Boston Dry Goods Sale* Seeds In New York, Feb* 25. CHICAGO oaicst aihaar. WatnruufAT Srxztuo* ITtrclj 1, 18». FFEtOllTS*—'Thcrt Un» chans® la rave*. Vfs comlaac to quote Fourth Dre**ed Cum. Floor. Ho«*. xi.» *529 JIM *IoBo < tt'a.»< r*l* f® 535 2® To soiiao.au rail... ..... . m I,® IJ* Torbll*!eJplih., all rail 1.55 ' »J8 18® *l*o JTalumrrt, \zz 3J4 > 18® J« MUJU-Rccevuii U.Tjy t>ti«; shipped, 015 torts. MnSetieas active *nd«c.'fci-l7i<> arm. Bunvm:' t,«Otr'» **Bc«kerV*cpolco spring etMua».l.aiia KO cr Sfr'brU e>tra Cn tcm* not mid* nubile. WHEAT Deceived. 3,111 bu ; snipped. ],»*»■, Marketou land i@K)fc lawcr. bales wt io: WO to*. Cbicazo *»fr* at M.«; >S.tCO hu. No. lsh»la£ at 41.58; •OOOOha.aoftt 81A3V; 4,00u bu. dost^OSu 5jOTn.No sSpnns:at M.»i-cio4ia-quiet bat Arm at l I.3SY for No. I £price la store. t;OKN“Kect»T<w. ll.'-HG bu: shipped. 6,533 to*. Mar-ctqali tand fcrbetter,*Silhi w.re; u>, bn. Wo. 1 Com *n store at S7d; 900 bo- rej«ttcd at a>o dei,; 1.2001 m do stTTC tns'Ofe; MM ba do at 75* : I.MO f>u dost 'S;l.WObo.aolncunnl-»ai si w del.; 300 ap d< OAT^-b‘etrtiedls.lsCba; ibtp'M 11,311 ha Mar ket dan end V».Hc lower. Sara tv>ro: 3,30 cbaWo I (In A. D. &Co*»jat!9>«; C.MO bo do at 03)40; lI.OD* bn »£V 3 K^^ C e» C T^^ ll buV9^i^ t l bu. Market quiet and Kc butler. Sabs were; lUJ On No I m Hora at Mk : 2CO bn do at 06c, on track. „ BA 8 LKV—l.ecel' ed bn; shlppod 953 bn. Mar* ketuuU. sfii- twere: 150 ha, by sampi®, »t tl 2td*|.; 400 bo do at 81 H del.: Ml ba old No 2at »U3: 800 b« do (Sunn Mde> at ii.oo; 90. bn, bj sample, « |l ai del. AT.ronOlj—Non)ta*l at {4.3*31.30 per gtfloa. : BhAw••—Market quiet bat steady. Sale* wcr«: llbanataifo. , BltOoni cORW-Hecrlvd i.o® fit. Markat qail| l tv Ut Uima * ICHMpur ton, according to _BCT'tEU—'Receipt® 9.333 n* ; shipments 2W« »s. perfectly tugnaat, who a downward tendency. v> equate: CBoice Dairy «• a u - Eicr* npu... IS S PrimePirUn 33 s Cr-mt&ondo*. ....,34 us » BAUO5lNH—There l» a steady demand. Quota lions are unchanged. We quote; M Star*. A. .. ... .|ii» OO Monitor, 3 ba. icut less, to 100 «&® cblcazo,A.Sba.sesmicu,» 100, m.o» Wavrrly,A,3oa,se<mte4s t tolPo 94® Maacb-tfor Lines. PICO 90® Uampccn,B.3bu,Beanjieia,to ICO 70® Wcnem rtalrle. ‘I bn. sewed llnm, to 100 In.® Lone»ood,A,3bn,sowed IJnra, to 1C0.... *o.® Cora Exchange A. sewed ;ines. to 100 70 no Garden City, A, sewed Uecd, P 10m &® toicelslor. A. wwed Unm, ¥ 1M ®jt Bor apa.4 bn P 100.,.. _ SSOJ»dSIu» Gaimy Basa, 4 bj, to 100 sfua ■ * 2 rn, “ Paper Flonr backs.« bri, to l® SJt ** ** H bji. ** in Cotton Flour Sack.-, h bri u “ *• *• K bri 30 t’IIREI^E— Tbonjaraetconfluae* actre aadQra. Ttoero la no change in quotations. We qnote: HamcmrT. StQSc Wesloru Keterve 32<|2tc States. So^£!c 1,190 6,6 W C«FKKB—Siea?randimc!xaaged. We Quote. Cape,* & 33*939 e Java. O. 0. in xr.ste ....51 (43l*c Mo, fair to cood 43 <S43*c Mo.cord to prime Us'WU e Ki*U.*4—Are yery penty end the tendency li down ward. We qaottf insh egga at 2Cc. Limed cgss are uata’an^e. 830,333 KK Gm-n apples are brglnolsg to arrive wftb a gtod demand, .Dried apples are dull. Oder dried fruit* are nolet. We quote; lirern Appies, ft t>ri,»6wcotoaio *S,rWfc6SO Vbri.at rvuu.cume 6.r0.<3J» Green Apples, ft brl.at retau, cooking SDOft&to Lemons, new Malays.., ......... iTtO Or-ngesmew 12.0C^ISJ» nuxs noxxsric vatrrrs. DrledApples.N.T-ft ft Dried Ohio Apples in bria Dried Ob o Apples in bags Blackberries, ft ftx...., Raspberries, ft ft.... Peach'S, pared,ft & Fcseoes.anpued*ft ft Cherries, ft ft FO»JHOX FRUITS. Raising layer*, "9 box old mjjs a6J* italslns, layers. v box new....... 715 ar2s Ralsins,M. R/a V box old 5.30 35W Balatns,Ml K.’i, V toxnew..., 7.0 a ©7.15 Cnrrants.Fa 25 S » FlS*H—There U a very active demand forlFUh at pr*;CDC.on accountotLent,aod the market laverr firm, and present quotation* orewell sustained. Tfe quote: wmteflsh,No. 1 bfbrl *930 a 975 WbJtefisa.Xo.z bf brl 9.25 a 940 WbJtefl3h,so. 3 w brl 740 a 7.7S Trot 1, No-1 bfbrl x a.75 3940 Trow,So sbf brl r. 830 9 a.75 Mackerel,No.ihfbrl.novr....? 1040 o#lu» Mackercl,No.2hi hcl.n-ir 930, 91940 Mackerel,lario family, hf brl,new.... 9.(i« a 940 Mucker©*, extra mesa, vbt brl 13.00 ©1340 Mackerel, extra nws, ? kit 4.09 9 4 aft Mackerel,So.l.klts.ncir i.7* ©sco Mac»trel.£amllvklt» Z23 9237 Codfiab, Geortre'a Link, * ICC 11.00 ©tlio rodflsb. Grand Bank. V ICO aiu. ia.so 911.00 Herrings, So.l pickled. • brl. u.to 91140 Herrings, Labrador, larze. 1R br].. 14J9 015.00 Hvnlngs. Labrador, ronmt, « br1....... ILOO OU4O Hertlaes, dried, No. 1, p box- 70 9 75 neTTlns»,drled,»calfd EO © 85 Herrings, Lake. Vbfbr'.Ko.l 640 6* 8,75 Herrings, Lake, ißhf brl, So. 2. fl.'S ©6sa Salmon, pickled, kits 84* 9 640 PoliOcr,f»I00 3.5. 740 @ 8.00 Hake,*loo B» ... 8.03 9859 Halibut,* a, IS © 13K Oyster*, Cove, * di’Z 543 9 3.75 Lobsters, * doz,3*» cam 375 9 (U)0 Lobsters. V dcz, l-» cans 450 ©273 Salmon, 9 br' Salmon, V hr bri galmon.smoked, V A, 47 RFASE- Market quiet and steady. We quota •. ■White Oro'sa 11 ©l'tHc Yellow’ Grease UKotUtfc Brown Grease.. IS*@U a* to-day were; 50tret choice White Greats at 19c; 45trcsAeUowQre*seatl5c. - ped. 135. Market qolet. Sales to-day were: 22 flog* averaging - ICO m at $ll.OB ll - ” 2*o ♦* ** 13.50 25 “ M 213 ** “ 11.30 is Bon at *IIXO and 13.50, dividing on 200 as. 51 « “ 13.01 and 1350, “ •* 2CO AS. 7 « “ 23.0) and 13.25, ** M 200 A ». 7 “ “ 12.00,12X0, and 13.25, dividing on 109 and 200 As. HIU H WlNlSJ4—Received to-day,none; shipped. Mbrls. Market advanced Ic. butrvea* a&UTC. galea were; 110bnsatfl.UK: 300 brlsats2.l3. HIRES—Reee-pts, MJ36 Aa; shipments, 38.623 as. The market continues very doll and depressed. Wo qoote; City BlanghUred Green Country, irUnmed Grten, D«t cm-ed. trimmed... Greta Salted, trimmed Ury Salted, trimmed Dry Flint, trimmed... Kip. Green Salted, trimmed... Calf, Green Baited, Ulmmad.. Murrain Kip* ~ Deacon Sktna. 35 @39 GrobbyßWeajl price. I.VWBER— Kecelpti. lumber; 14WOO »h(o* ales ; shipped. S^ fl ru lutnbrr; 720.0C0 shingles, and TC,otu lath, rhe market continues steady with but lit tle doiag. We hear of no sales to arrive. A lot of 2,160,000 to arrive during theieason was offered it $lB lOmlilnm, but without buyers. There is a gen ial dUpo&IUOB among dealers owing to. the present hJeh pricesjvith anticipated large soppllca and more limited demand, to await the opening of the spring trine, and take the ehanca ol » decline. Quotation* ai c unchanged. We quote: LVXSnn—emt Clear Boards VM S6O 00@ .... Second Clear Boards. 9 M 55.0Q@ .... Third Clear Boards. * M. 45.00a50.aa First Clear Plank, 9 M S0 00@65.08 second Clear Plank. VM. 55.0C@00.0A Third Clear Plank, A M 50 00@».0A Stock Beards 2thOO@3S.OA Box or Select Boards 33.W3@H).u0 Common Boards renciuC 1i9.00@3t.00 Cnll Boards ia.oo@ .... First Clear Flooring, rough @30.0f Second Clear Fleering, rough..4o.oo@ls.ftt Common Flooring. roa & h SS.OO4K.Ot Siding, Clear Brejsed. 23.00@30.Q9 Second Clear. ..... 23.00@2t.f1t Long Joists 25 Do@so Ot Short Joists and Scancl’ng. 24 ca ShavenShingles,a?M.;. liscSsw Sbavedttbtnelts/Ko.l 4 oo@ < so £haved Shingles; ptar,... 5.5C@ 5 75 « - 3.2** s'.s Baweu Shingles, a s.ao@t.M Sawed JJo. 1,. 4.50@ 4.TS Sawed ‘■hlnJ e*»B2 | »0.l S.OO@ S.a Lath, A 1.000 Posts. 9 1,000. 18.00@20.0t Picket* 22.10@21.89 I LEATIfKR—There is a/rood demand for Harness Leather, which U drm,hot Shoe Leather Is dot) and neglected, are unchanged. Weqnota: „ nmreoc*. Harness A A.... 0.45&0.47 Collar. 9 ft.,... OJM@ 029 Country Harneis slaughter sole.. o.4a# 050 Use A A 0.48(30 30 Slaughter sole Kip. m’dW, A A 1.15*115 Chicago 0 12@ 04« KJp, heavy, A A O.SO@O 90 Buenos Ayres.. ff.4s@ 0.48 Calf. 9 a L7s@2At) Orinoco 501e.... 044@ 043 Upper. Vft (U00«0.33 Orinoco good Country upper.. damaged OJB@ 0.0 OAI- Slanghter.iol*.. 0.26@0 6O Trench Calf 31 Harness, 9 A... 05fl@0S3 As 2.70@ 2JJS Upper OS@OS4 French Calf,SO Kip, So. 1 me- A 5............ 3A9@ 2At alum 125@i.M FreachCa'f.Le- Ktp.Jfo. lh*vy.. OIBS@UO mi>ines,Aoalo6J)o@UlJM Call, extra...... 2.00@2.50 FrenchCslfLo- French Kip, Ist molnes. t<ec ch01ce......... *JO@3J# ond*. Adoa.AQXO@IOOOt French Calf 27 Linings,Tdoz.lOOO@ 1508 »» 2.805 ACS BotnlTVdo* 15.00# IS 00 OlL—The market is quiet and unchanged. Wo qtole; Unaeed Oil, raw. round lats ft .53 9 brl IAS Linseed Oil boiled. •• •* J.;s A bri 1.00 OUve Oil, V « 3.15 9 bri 4.0* V.bMeOU, W.B “ M l.w 9 hrl 1.9* Bank OU " M 1.60 9 bri I.«S Lard Oil.r are leat... •• - 1,95 9 br! 2.0S Machine Oil •* M 9 bri l.« SoermOU “ *• 3.00 V bri 5.50 Lnbncattne Oil M •» 50 9 bri 1.25 Aeatsioot OU. •* ** I.OJ I» hrl 1.6* CaitorOll « “ S.SS 9 bri 3.50 WblWflsh OU M u I.BQ 9 hri 1.18 CARBOs OlL—The market Is steady, with un changed quotations. We quote: D-.st White Or, car-load, 85c $ bri 38c Benzole 9 gal 4S@soc PROVISIONS—OwInc to more favorable advices from N*w York, there wssa betterloqulr* for Bar reled Pont, and the market ruled better and higher. nicss Pork—ln fair requ'-sc and Orm. Sales werer 55 brla city packed at *03.10; 250 brlf do at 932A0 Good brands generally hela otf the market. Prime Dlesa Pork—ln good demand, and ad vanced per bri hales were; ftiObiis cltr pack'd laiolaat *39.50: 12.0Wbr19 do la lots at *34.00 —Bellnrsat cl we generally holding at $37.00 for loose atiou clcra. Sldr* neglected Knslinh Meats—Nominal at 11 for Cumber land, andl3J4c fer Rlj Mtdd cju RSweet Plculed flams-Horketquietbutflnn at l.c forgoodc«ty brano?. ■ Lard -Market firm but Inactive. Sales to-day; 23 tres prime Kettle Leaf Lard at S2c;63tres No 1 Lara b\BoHc s*EKO»—Received lUBIM As Grass Seed, and2OJW Flax Seed; ahlpped, 122.517 As Grass Seeds. .Timothy .Market steady. Sales wero: IS bags prime at $4.901 ÜbagsatgLSi: 150 bag* at $1.72; IS b ;S A at *4.53; 40 o*m at *1.50; 74 bags at *UO. tloTfrMced-ln lair request and arm. SUeswsre; 100 ho $12.75; 100 bn at SI2JO; 13 bag} at $13.30. vjeed-iiarkc: »ie*uy, Sal-9 were;2obag» at 98.70; 2l begs at $2.05. llaotrarinn were: 10 brls at $1.75. Seed—Bajes were: ICO bn at $1.75; .3 boat , £ L'GAHS-Are (;nlet and steady at the decline no ted yesterday. We quote: Cob*. enuam q Fonoßlco...* c Molotsea Sugar...... 13 QjdXc M’-BtltW, powdered andgrannJat*d....2BjfiM» e White A * . ■ri /aytu circle a... White B .SBkwSHkc Ts* ow C... 0 »YBUI*S-Are wlthoutxhango. V7e continueto quote: li.Y. Syrup*. tXBOUA Cab* luolaaifa. .. . SfeaXM Orleans. Xicaxs* PhradelohUßee Hire pfrg so HALT—Shipped 740 Drls. Market doll and Unchang ed. We quote: • B OnoadagaFlnaSalt e may iq Michigan fine Pal t i-ff?yif Old Fine Salt, 1363. ' ÜBai TS CoaneSalU... .toiiaLS Ground Solar .. .a mS Dalry.wt'ha&cka. AsSS.... Dairy, without iseu . _ 4 ua Q'onnd Alum. V 510 bs\. _J*’, slooo!... TOBACCO-Th market u quiet and’until Con gresa dedoeaon the pending change* In tno tax. mere r " ln *- “• For* Cut Cszwuro Tobacco— cboy* * sus at.* Kelon . 90 a * „ Common 65 a * Sxonso Tobacco— Choice st a * Medlam.... .. 30 a Iff Common Stem* aJ ® s» Plug Tobacco— B.tnnil Uml \ S *?-5 H«lMjriiht Cllolc. Biic., Jcnn ”.v ■ Medium guaranteed .. S* « WOOL—iS^ceipti" ijfsi »V: s&pmnls There la no change to QO * /? * r Unuftreiy quiet. We quote medlnm wool a* flaiswnantoßs. C CHEEK'S PUXMONIC SY- O RCTSSA WKKP TONIC JL!W UAWOBAMM pit ta These deservedly and celebrated and pop. hare affected a revolnttoa tnufil proved the lAUacy otseve*»l maxim* . SdSehhare for many year*, obstructed thoprogra* Lienee, The lalse soppoaitlo* thsM m nC mcur*hle.. deterred phyrlcl—a • ftonfattemptlng to Had remedle* fot that duesfmni SaSn6»mßictcd with It reconciled themselves tm SSS» Wiihoot making any effort to eicaae frost » Soon which they supposed to .be unavoidable. It IB □ow prosed, however, that Coxanxmoa tux bs ctdkzp. and teat It has bbbx cured In a great nnmbmr , of ease*. C*om« of them apparently desperate cn*«Jbf A seneock's Po.taoulc SjMp alone; and. In oth»r was, * by ibeaauemecicineTW connection with Sheuckm Sea Weed Tonlo and Mandrake Plila, qneorboth,am> cording to the requirement# of the e*d£. Dr. ehenek. hunaou. who has enicyyea anlnterruptea goodheeUh for than thirty tebeattb-very gate of death; hLspatslcianahavmr pronounced bis case hopeless, and aonadoued htas IB mis&te. Be wa# curedor the aforesaid syrupj and amee bis recovery, many theuaanda similarly adUetad h-ive used Dr. 9chenck*s medicioes with the same r*> markable success. These ntcet eot modteinessretov tale m this c*t>, by (Ol drugubta. Full dtfuotDMftt tue use of tnam accampsay saob aotUa, .JS ..13 *(#l3* . 33 w*iS . M AS ..3D &12 ..30 AS ..a as) 45J.00 a.... ZLSO .... a o .6 at* . 8 a s* . » . 9 .15**U .17K»18 .u3au