Chicago tribune. [volume], March 26, 1870, Image 2

About Chicago tribune. [volume] (Chicago, Ill.) 1864-1872

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Chicago. IQ.
SATURDAY, MARCH 26, IS7O,
PANIC AMONG THS BANKS.
It cannot be longer disguised or con
cealed that the provisions of the Funding
bill, which T»ns passed the Senate, are pro
ducing a feeling of great uneasiness and
anxiotr in financial and commercial circles,
—a feeling that way intensify into a panic
if the bill is passed in its present shape.
The seeming purpose of tho seventh sec
tion of thebDl is to force the National
Banks out of existence. This section
makes it the intsr(ft> especially of the
country banka, to surrender their charters
to escape the operations of the act. The
ostensible reason given to the public by the
Senate Finance Committee, for incorporat
ing Section 7in their bill, is to save tho
Treasury 1 j per cent Interest on $250,-
000.000 of 5-20 bonds owned by tho Na
tional Bonks, and $ percent on $90,000,000
of their 10-40 bonds, making an aggregate
of perhaps §4,000,000 a year.
In addition to this loss of interest, the
hanks are required to surrender their 5-20
bonds, which were worth 97 in gold before
tho Funding bill passed the Senate, and are
now worth 96, and receive, in exchange
therefor, three classes of bonds, bearing an
average of per cent interest, and worth,
perhaps, in per cent less than tho present
securities.
The bonk clauses of the Funding bill,
therefore, propose not only to confiscate 33
per cent of the income of the bank securi
ties but to force on them ft security that
may not Ik* worth four-fifths as much as the
bonds they now own. And the bill also
requires the banka to contract their circula
tion ten dollars to the hundred of bonds.
The bill does not propose to allow the bants
the difference in the market value between
ai; per cent and a 4 J per cent bond. It is
not even proposed to rescind the tax on cir
culation, as a partial compensation for the
Loavr las* to bo inflicted on them ; but the
bill arbitrarily and peremptorily demands
that the banks shall surrender ono-tenth of
their circulation, one-quarter of the inte
rest on their securities, and exchange their
G per cent bonds for U per cents, or for
feit their charters, and lose their right of
Lining circulating notes.
The damage which it is proposed to in
flict on the National Banks may be thus
1. Kb annual low ot Interest f 4,000,00®
2. Ten per cent less on value of their se
curities M,floo,ono
3. Compulsory contraction of circulation. 30,000,000
Since the passage of tho Funding bill in
the Senate. United States bonds have de
preciated 1 per cent in Europe. In other
words, this mischievous bill has already
diminished the value of the national secur
ities $21,000,000 in the aggregate. During
the same j«oriod of a fortnight, British con
trols have advanced 1 per cent. Foreign, as
well us Lome, capitalists ore apprehensive
that, upon the passage of tho bill into a law,
hundreds of the National Banks mil return
their circulation, withdraw their 3-20 bonds,
and throw these securities on the market
for sale. Hence the arrest of the previous
steady advance in price and tho actual re
duction by 1 per cent in tho value of Fed
eral I Kinds in the markets of the world. If
the mere shadow of on approaching event
has done so much harm already, what mis-
chief may not the bad reality produce ?
Who can tell how much our bonds may
depreciate by the windingupof the National
Banks, and the throwing of two or three
hundred millions of 5-20 s on the market?
Who can tell what effect it may have on the
value of greenbacks; and on tho pro
posed 4 nud per cent bonds?
This is surely not the road to prosperous
times and safe resumption. It is not the
road to par for American securities, nor to
a conversion of our high interest into low
interest bonds. No other class of public crodi-
tors are to bo treated in this bank, unjust
mul dishonest manner. It is only towards the
stockholders of the Notional Banks that it
is proposed to practise repudiation to the
extent of 25 per cent on the income of the
public securities, and to inflict a wanton
depreciation in the market value of the
bonds. Why should the stockholders
of the National Banks be
singled out for snch treatment? What
crime have they committed that their prop-
erty should be Urns confiscated, and their
business impaired, and *bgt of the whole
community deranged? The shareholders
of the banka draw no mom interest from
the government on their 5-20 bonds than
uny other class of public creditors, and for
what reason should they now bo dis
criminated against, and made tho victims of
bad faith on the part of the government, to
whose rescue they came in the hour of its
forest need ?
But il is argned that tho enforcement of
the Funding bill will give four millions a
year of interest, provided all the National
Bonks can be cocrecd into acceptance of its
provisions. But suppose they do not con
sent to be thus fleeced and robbed of one
fourth of tho income on their securities,
one-tenth of the value of their principal,
and one-tenth of their circulation; but
choose rather to withdraw from a system
which subjects them to mch tyranny and
acta of bad faith, how much will the gov
ernment in that event save in interest on
the bunds belonging to the lumks? Not a
dollar.
It is not likely that the banks would re
organize tinder Section 9, as they would re
ceive but por cent net interest on the 4
per cents, as the Uxof 1 per cent oncir
culation would consume $ per cent on those
bonds. A thousand dollars invested in 4
per cents would yield the following gross
profit, viz.:
Interrrt on f 1,000 at 4 per cent...... S 40.00
Interest cn tfcWofcnrrencv, less |9OO held
fur nwerre lands, at lo per cent 60.00
T>rrturt \*x on ciTCQ’iilioo. . _
Dcdci 11 per cent forexprMscbaivta*'
iaut.JU-4 LiUfl, Ac. S.OO
Profit cnll/'N).
i }!/*« loaned at 10 per cent.
Difference in faror of private banking,
sl*s on each SI,OOO of capital, But this is
not oil. It is well known that there is no
cxcapi* for National Banks from the fall
national. State, county, city, and township
taxation imposed, which averages not less
than .'> per cent on their capital, whereas
private bankers pay nothing on circulation,
and many of them escape with lass than
half the other taxes imposed os the Nation*
al system. It wiQ, therefore, be against the
interests of capitalists in the West to Bab*
mit to the exactions and inquisition of the
National system, and bank on the proposed
4 per cent bonds.
But what effect would the rapid ex
tinguishment of 1,000 National Banks have
on the business relations of the country?
What effect would the withdrawal of three
hundred millions of bank currency from
the of discounts and loans have
on the manufacturing and mercantile inter
est’? ? What effect would such a contrac
tion have on the revenues of the govern
ment? It is quite certain that a financial
revulsion, widespread, ruinous, and Irresist
ible, would sweep over the country, filling
the land with bankrupts, and reducing the
laboring multitudes to the condition of pau
pers. And while ‘his would inevitably
result from the disr/ptioa of the National
Banka and the ro'J-ement of their circula
tion. the government would not save a
single dollar of inVsrest on the bonds now
held by the banks,Vs has been shown. Bat
the Chairman of the Senate Finance Com
miltec ♦W if’ the present banks shall
retire and windup their affairs, new banks
will bo organized under Section 9, and fill
the vacuum. But, even in that
improbable event, the government will
uot save a dollar of interest on
its rt-20 Ixmds. Those supposititious new
banks wodd be based oh. the 4 per cent
bonds issued for greenbacks which now
draw no interest. Every mdlioa dollars of
I circulation given to new banks would cost
the government £50,000 of coin interest on
$1,250,000 of 4 per cent bonds pledged for
the redemption of such circulation; be-
cacao that amount of greenbacks would be
retired, and funded into those 4 per cent
bonds. Hence there would be a contrac
tion of 20 per cent* and.a lpss to.thiLgQV
enunaat of 4 per -cent ta—interest on the
$1,250,000 of greenback® funded into these
bonds on which a million of circulation
would issue.
.813.00
0.00
!UO
. 3.00
To replace tho prosonl bank circulation
under the provisions of Section 9of tho
Funding bEU, wjll require tho retirement of
$375,000,000 oT greenbacks, <md their con
version into an equal amount of 4 per cent
bonds, tho Interest on which would be
$15,000,000 per annum. v> ‘
The arc ala ting would then
consist of $300,000,000 of bank
notes secured by 4 per cent bonds of doubt,
ful and uncertain market value, which
bonds would be an annual charge on the
Treasury of $15,000,000, adding that sum
to the present interest on the national debt;
And, at tho same time, the currency of the
country would be contracted and diminish
ed by $375,000,000.
Bat it may bo replied that the govern- (
ment would pass a law providing for re-.
iaming the greenbacks sent in by the new
banks. But consider and reflect a moment
For what purpose would it reissue these
demand notes ? Not to pay its ordinary ex
penses, for they are provided for by tho rev
enues. Not to pay interest on bonds, for
Federal duo-bills would not be a log*]-ten
der for such purposes. The only thing that
could be done with them would bo
to purchase 5-20 bonds. But nobody
in Europe or America would sell 5-20 bonds
at par for government non-interest notes,
which, by the provisions of tho Funding
i bill, never be worth more ikon a 4 per
I cent bond,' into which they are mado con
vertible. And what will be the value of
such a bond ? Certainly not loss than 15
per cent below that of a 5-20 bond.
The effect then would be, if the green
backs were reissued and invested in 5-20
bonds, to increase the national debt fifteen
millions on each hundred miHiona of notes
so returned to circulation, making an ag
gregate increase of the * debt of fifty-six
millions in order to restore the equilibrium
of tho currency and prevent a general col
lapse of business and revenue.
Tbe foregoing analysis of tie operation
and effect of the enactment of tho seventh
and eighth sections of the Funding bill il
lustrates the old adage that is always best
to let well enough alone, and demonstrates
tho truth of the marim that honesty is
the best policy, for governments as well as
individuals.
It will be utterly impossible for the gov
ernment to practise the threatened injus
tice on the banking class of public credit
ors without impairing its credit with all its
other creditors. And just now it is the
especial interest of the government to fos
ter and improve its credit. Bat this can
never be done by taking the banks by the
throat and demanding that they shall sur
render 25 per cent of the income of
their securities and accept a bond
worth, perhaps, 80 cents in coin, for
bonds they have which arc worth 93 per
cent, under the pains and penalties of a
forfeiture of their franchises and charters.
No severer or moro dangerous blow could
be inflicted on the national credit than to
pursue the policy of repudiation and coer
cion embraced in the Funding bill, in its
relation to the National Banks.
Tbo wisest financier cannot foresee or
predict the evil consequences that may fol-
low its enactment The banks are too inti
mately related to every busmens interest of
the country, and too closely intertwined
with all its affairs, —with the public as well
aaprivate credit,— to be struck this rude
and perfidious blow without tho whole body
politic feeling the pain and shock, and ex
periencing enormous harm and loss from
the destruction of tho present admirable
system of safe, sound, and satisfactory Na
tional Banking, which only needs to be
free to all capitalists to confer on tho
country all the benefits its originators
ever hoped or predicted for it.
THE SAN DOMINGO JOB.
Tho Senate has voted, by eleven majority,
not to let the public know anything about
tho Domingo job, which involves a cash
payment of $1,500,000, and the assumption
of liabilities of an indefinite amount.
Son Domingo is in a state of chronic rov-
olution, and just now has two Presidents,
two governments, and two armies. Each
of these governments is cruel and mallg-
nant in its policy; it bangs or shoots every
member of the opposing faction who falls
into its bands. Each supports itself by
robbing and forced loans; and life, liberty,
and property in the land are at tho mercy
of tho rival chiefs. The Government of the
United States has elected to deal with Baez,
a fiprt of carpet-bagger, and to ignore Ca
wfl,-though their following is about equal,
arid their legitimate authority is about the
same; that is to say, nothing at all Baez,
however, is ambitious and corrupt- He has
an idea, doubtless, that in case of annexa
ho will laconic a Bullock, or a Wbittemore,
besides pocketing, in the preliminary trans
action, a large share of the money 'which
may pam from the United States to San
Domingo. San Domingo is of course in
debt. There are two governments all the
time issuing shiaplastcrs and creating lia
bilities. Baez expects by annexation to give
his paper a value, and no doubt, in anticipa
tion of the purchase, is prepared to issue it
to any amount, like the banker wbo signed
notes night and day to keep his institution
from breaking. Ho has already received
$150,000 in gold for a lease of Sam
ana Bay. He represents the
public bonded debt to bo $1,200,000, and
the United Stales Is to appropriate $1,500.-
000 in cosh to pay that debt For, whal
ever other debts the Government of the
United States may awrume by annexation,
it is to be seenred by the “public lands”
of Son Domingo! Son Domingo bonds
are worth, perhaps ten cents on the dollar:
the other debts of the republic ore not
worth even that stun; both together may
reach fire millions of dollars. Annexation
will bring this debt to par. and will add, of
course, tc our already liberal bo mi-annual
payments of interest. The treaty bears all
the marks of a financial job and specula
tion to enrich those who have bonght
Ban Domingo bonds, or to whom Baez ;
may distribute them as presents. The ,
“ public lands" of San Domingo are of less ]
valne than those of Alaska. There is not a |
foot of them, except possibly the mountain 1
peaks, which has not been private prop. ;
erty, and the titles are to be traced in the ;
records of murders, confiscations, evictions,
plunder and rapine.
** President" Baez is a cowardly and
brutal adventurer, who, having run bis
career of assassination and despotism, socks
escape from the avenging arm of justice by
selling his country and his countrymen for
money to a foreign government It is no
answer, to say that the Dominicans
will be better off as part of i
the American Republic than they now
are. It is nn part of the “mission” of the |
United States to bny foreign peoples to im- ,
prove their condition. 'Weave surrounded j
with others scarcely less wretched than the J
Dominicans. Once admit that it is onr
duty to buy all unhappy nations whoa© peo
ple may be bettered by the change, and
where shall wo stop? Mexico, and Central
America, Spain, Ireland, Paragnay, Rome,
Turkov, Japan, and China, appeal to us
even more strongly than San Domingo.
But the effect of the treaty upon San
Domingo is not of the least importance
compared with the effect upon ourselves.
Are we ever to get out of debt ? Are wo
over to have a reduction of taxes? We hare
covered up §7,500,000 in the eternal snows
of Alaska. A proposition to bury an equal
sum under the volcanic rocks of St. Thomas
is still pending,—and so borne down by
debt that we ate paying a tax of 10S per
cent on onr very salt, are we In a condition
to pay a tangle dime to this blackguard od>
venturer in San Domingo for the privilege of
forcing onr institutions upon a people who
know no more of them than they do of the
Beusinian mysteries. Wohave onhandfour
minions of newly.made colored citizens,
who, though tractable in disposition, and
Americana by birth, have everything to
learn in their new position, and who must ,
for years be the objects o! anxious solid- 1
tnde and care. We hare upon onr Western
frontier more than a hundred tribes of ua
tamed Eavagea, and, rfm farther erst, an in
cursion of pagans u “>”B h
never claim political afflnity mth os. be
come for the time an integral element of
oor population, exciting violent prejudices,
and demanding constant care. This treaty
proposes to add to onr political body a new
lot of barbarians, in vtbom revolution,
bloodshed, idleness, extortion, and revenge
have become hereditary; and one of the
excuses for buying the privilege ot ci ic
ing them is, that it vrill than bo easier fo
*IOO.OO
SM.OO
.*IOO.OO
os to boy their neighbors, and carry our
purchases forward to Oautemala, Nicaragua,
and Now Granada, where our iHumphs are
to terminate in digging a ship canal
through the Andes at on estimated cost of
$70,000,000.
If the Senate ratify this San Domingo
job, wo bope.UioHouso will "refuse to rote
the money tot it, at least until jtha people
have their chance at it. The BepresezUa
tive who votes for that appropriation'wiß
be an object of pity for a long time after
ward. •
TTTE PENOBSCOT BITCB.
Kow comes Bangor. The Legislature of
tho State of Maine hare certified to Con
gress that the City, of Bangor “ has attain
ed a prominent position among the com*
znerdal cities of the Union," but that there
are obstructions in tho bod and channel of
Penobscot Biror, connsting of “ rocks and
sundry deposits,” which injure tho naviga
tion; and that the “national commerce"
connected with Bangor requires tho removal
of these obstructions. The fact is, nature
baa done her work very Lunglingly, She
placed tho site of Bangor up stream, and
then placed rocks between that “prominent
position" and tho mouth of the river, evi
dently with a view to embarrass the national
commerce, which is vainly endeavoring to
reach that metropolis. There are
many other' instances this side of
Alaska of the want of judgment
in nature's handiwork. She placed
rodca in tho Ohio River, creating
rapids which, at low water, cannot bo pass
ed with safety. Then when there was a
canal built round these rapids, the supply
of water in the river gave out, and naviga
tion fell off to such an extent that the tolls
on the canal do not pay the expense of the
keeper. Then there was a fall placed in
tho Mississippi at 6t. Anthony, upon which
enterprising lumberman built saw-mills.
But nature made tho dam of such poor ma
terial that tho falls are constantly receding,
to the loos of the men who bars invested
their money in tho saw-mills. Of course
it is the business of Congress to correct
these evils. The 40,000,000 of people
whose national commerce posses through
Bangor mast be taxed to straighten the Pe
nobscot. It matters not that there are sev
eral other caries lower down stream,
where this commerce may enter and from
which it may depart, nor that there are a
score of others further up the river which
have also been cut off. Congress, in the
opinion of the Maine Legislature, mast
open tho doors of the Treasury, and let
Bangor go in and remote “soudry depos
its” therefrom for the purpose of exca
vating “ sundry deposits ” from the Penob
scot River.
'COAL IH MONTANA.
Mr. D. W. Hobart, now of Montana,
writesto Orringionlitmt, of thiscity, that he
has discovered a coal mine (Vdnminous no
doubt), about half-way between Helena and
Deer Lodge City. Tbo former is situated
on the waters of the Missouri, and the lat
ter on those of the Colombia. They are
about thirty miles apart, according to the
statements of the letter. The vein is six
feet thick, and the quality is so good that it
is now used for blacksmithing wherever it
con l>e obtained. The Northern Pacific
Railway will probably cross the
Rocky Mountains at Mullen's
Pass, lying between Helena and Deer Lodge
City, and the discovery of this coal, it is
1 supposed, within a mile of the line of the
road, is a matter not only of great interest
to the prosperity and success of that great
enterprise, bnt it is equally so to the com
merce of the whole country, for it will put
the road on a par with the Central lino in
the matter of fuel to operate it. The
mining towns and districts within twenty
mIW or more of this mine are already using
oil the coal that pup bo famished them, and,
generally, tbo importance and the value of
this discovery can hardly be overestimated.
Tho rapid extension of the railway sys
tem is one of tho most remarkable elements
of our national progress. Ton years ago,
the railroad lines of the United States fell
short of 30,000 miles. Now, there arc
30,000 miles in operation and 13,000 more
in process of construction. Every State
and Territory is pervaded by tho same pro
gressive spirit Even in Massachusetts,
where there are more miles of railway in
proportion to the population than in any
other State in the Union, five new linos are
l>eing constructed. Each State has in pro
cess of construction an average ot half
n dozen separate railroads. Maine
has 8; New Hampshire, 4; Vermont, G;
lihode Island, 5; Connecticut, 7; New
York, 11; Now Jersey, 7; Pennsylvania,
:\i ; Delaware, 6; Maryland, 7; Vest Vir
ginia, 1, at least; Ohio, 12; Indiana, 12;
Illinois, 12; Michigan, 13; Wisconsin, 5;
Minnesota, 7; lowa, 13; Missouri, 12;
Nebraska, 3; Kansas, 0; Arkansas, 3;
Texas, 4; Louisiana, 4; Mississippi, 3;
Alabama, C; while in the several Southern
Atlantic States a total of twenty railroads
are in various stages of progress.
Tbc construction of such a vast net
work of railroads necessarily involves an
immense outlay of capital and gives em
ployment to a large army of men. Al
though it is difficult to estimate the prob
able cost of the several lines now in pro
gresS —this consideration, as well as that of
the number of men employed, mainly de
pending upon the natural difficulties of the
undertaking, the character of the work
done, and the time allowed for its comple
tion—s2o,ooo per mile may be taken as a
fair average. At this figure, $300,000,000
will be * required to put the present unfin
ished lines in running order; and, when
completed and equipped, they will afford
constant employment to at least 100,000
men. The chief obstacle to this gigantic
work is the existing tariff on iron, whereby
»he cost of rails is enhanced more than 50
per cent, and of locomotive engines and car
wheels 70 per cent, llailway Jra** 8 !? 01 ’**"
lion has now become the second industry
in the United States in point of import-
unco,' agriculture being the first. And yet
i>oth these gigantic interests are belli in
•battles by n few score of iron mnnufac-
iurers, under the miserable pretence of
protecting industry.
A proposition was made in the Board of
Supervisors yesterday, and was received
with much favor, to torn tbe County Kbr
mol School into a hospital; in other words,
lo convert it from a useless into a •useful
institution. The only objection that can
be urged against this plan is that it will de
prive certain able-bodied persons of the
life pensions which they have boos laboring
so diligently to secure &t the expense of
the tax-payers of Cook County. It may be
objected, also, that the title to the ground np-
on which the formal School la situated will
revert to the donors if tie banding Is used
for an jilting except n formal School. The
answer to that is very short: Let it revert!
The county will at least save the cost of
running it.
The board rejected, by a nearly unani
mous vote, the recommendation of the
Hospital Committee to sell the Reform
School property and use the proceeds for
building a new hospital. They also voted
against the proposition of the Medical
Board to build a wing to the present hos
pital. The Normal School seems, then, to
be the only resource left. Why not use it
for that purpose ? The patriotic citizens of
Englewood, not to mention the jocular Mr.
Kearney, ought to be rejoiced at seeing
their edifice turned to so good account.
The 'Woodstock Sentinel presents the
name of Hon. Lawrence S. Church as a
candidate for Congress in the Seooud Dis
trict of this State. The Sentintl remarks
also that Hon. Reuben EUwood, of De Kalb,
and Hon. William Lothrop, of Winnebago,
are among the names likely to be presented
to the Republican Convention. It adds
lb**, while approving the course of Gen
end Farnsworth, the present Representative
of the district, the people of McHenry
County will be united in supporting Mr.
Church this faR.
We notice tbat Mr. Church is announced
to address the people in several of the
towns of McHenry Comity on the subject of
the new constitution. „ .. .
THE yORTOWJIsT.
n a rants.
• A nine-foot vein of coal wu struck a few days
ago. In the town of Bruce, LaSalle County, eighty
left below the surface.
Sir. Samuel Briggs, who died recently to Taze
well County, had been a school teacher for more
than forty years.
Money-order Poet Offices have been established
In the following-named towns In toe Fifth Con
ercsplonal District of this Sutc:”X?lmgton, Brtm
acid, Cambridge, ChDiicotoc, Gain, Henry,Onei
da, and Wyoming.
A lost-win case is creating much excitement at
Shinman, Macoupin County. Dr. L. U. Reynolds
became disaffected toward his children, and made
a will leaving his fortune of *IOO,OOO to bis grand
cbUdren and other more dlsunt rcUttyw. The
THE CHICAGO TRIBUNE, SATURDAY, MARCH 26, 1870.
will he placed la a tin box and locked la a trunk.
De died shortly after, and, upon Investigation, the
trank was found broken open and the will gone.
WTbo : aeon Journal of the 83d says: “From the
llev. Mr. Evai.* wq.lcajp the following: ‘Aconple
from near Chenoa uairf*lo Puptlac and procured a
license for marrUgd.. ; Tbcy then proceeded to the
: minister, who aake<f the usual’-qoesuan, if.they
were the parties hauled aau.was answered
thsttheywere. The service was duly performed,
anp they went their way; it transpired
that the license was obtained in the name of a third'
" party, who knew nothing concerning it Thlsparty
I now desires to be Other “patjo possession? or re
leased from the obligation, bat is informed that
the law gives him no remedy.' We could not learn
the motive which prompted the singular proceed
ing."
IOWA.
It Is said that Olive Logan, on a special train from
Council Bluffs to Dcs Moines, made the fastest
tune ever mown on the road. The record la, twco-
ty-eeren miles In twenty-three minutes over one
stretch.
The Dcs Haines litgUier says; M Hr. W. A. J.
Seals, of Monroe, has shown os two Ulnle balls
which were picked op on the Held after the second
conflict at Bull Run. The balls met at right
angle*, and the point of one was burled halt way
in the body of the other. The ball that wasstrnck
was bent, and the striking ballet was flattened,
but the plug end la plainly marked.”
ncniAKA.
. Hahon, living near Orleans, Orange
County, fired the bam ol Mrs. Tccgard, because
the latter refused to countenance his addresses to
her daughter. The bam, with all Itaconteuts, con
sisting of ten bones, a fine carriage, grain, hay.
harm*", faming implements, Ac., of a total value
of several thousand dollars, was completely dcs
Mtoycd. Mahon was arrested.. - .
*The (rtr*T»»— which has been prevailing In
DavU-ss County fw mm time past is now said by*
physicians to bear a close resemblance to the
. disease known as “ cold plague.” It is very fatal,
mill is spreading to the adjacent counties. A cor
. respondent ofthe New Albany Ltdgfraajs: “Tne
disease first manifests Itself by a chill; and, In
those cases which prove fatal, tho victim becomes
insensible In a few minutes, and is scaled for death
from the very first indications of the disease.” Be
further says that the physicians meet with Utth
success in treating the malady.
la Detroit, a few days ago, the keeper of a stall
In the market, finding that the meltlngmowoo the
roof dripped through upon his produce, climbed
upon the top of the stall with a view of regulating
matters. He found six pocielbooks lying there m
the snow, each containing more or leas money.
It is supposed that they were thrown there some
time agubyaplckpocketoi the moment of bis ar
rest m the market.
Hr. A. P. Swtaeford, editor of the Harquettc
ifmtny Journal, has complied a pamphlet giving,
a history of the Iron mines ol the Lake Superior
region. From It we learn that there arc now la
fall working order fifteen extensive mines within
the Unfits of Marquette County.. Of these,thir
teen mines, during the year 1909, shipped ”09,85*
net tons of ore, valued, as loaded upon the cars, at
$3,166,190. During the whole time of their work
ing—a period going back some twenty years—the
gross product ol the mines la put down at 2,044,-
7t» tocsofore. The total product of all the furnaces
duricg ISC9 was 39,604 toos,.valoed at $1,502,8»
and, since the commencement, 104,102 tons. Since
lU6, a comparative statement shows an aggregate
of 3,915,465 tons of iron ore, and 394,163 tons of
pie iron, with & total value of 160,713.
A letter from Plymouth, March S 3, to theDt
trott Tribune, exhibits the great popular Interest
felt la the Vandorpool case. It says:
“ TheJpeojilc of Plymouth hare read with intense
interest the reports of the trial of George Vaader
pool for the murder of Heri»ert Field, ami also the
many newspaper comments thereon. There beta?
a diversity of opinion (a great majority sustaining
the verdict at ManUtce), It was proposed by a few
who thought the evidence lasofitclcnt to convict a
man of murder, to form a coart, select a jury,
read the testimony as reported In full at Manistee,
and have counsel argue the case. This was ac
cepted by those believing Vanderpool guilty. A
meeting was called and a court formed by
colling the Hon. Jonathan Shearer to preside
as Judge, and selecting twelve of out best
citizens, who were as unclosed as possible, to act
as a Jury. Mr. I. C Hall was appointed Clerk,
and Mr. Burch acted as Sheriff. The court com
menced Its session on the 14th, and continued un
l til the stst of March, adjourning from day to day.
The prosecution was conducted by Mr. John Ful
ler, assisted by Mr. John L. Gale and Mr. C. B.
Crosby. The defence was conducted by Mr- Wm.
K. W eat, assisted by Wm. Tafft, Esq., and the
Hon. Geo. A. Starkweather. The testimony was
read !«y 31 r. C. A. Frtshle, assisted by Mr. Crosby.
The argument for the prosecution was opened by
Mr. Fuller, who presented the theory of the prose
cution and the evidence supporting It. He was
followed liv Mr. Gale. The defence was opened
hr Mr. West In an argument occnpylw? one hour
and three quarters, lie proceeded to
analyte tho testimony In a very forcible
and logical manner, drawing strong con
clusions in favor of the prisoner's Inno
cence. Ho spoke with great rapidity amt dis
tinct oUeranc*. His speech was listened to with
close attention by conn. Jury, counsel, and specta
tors, the large ball being filled to Us utmost capac
ity with ladles and gentlemen, Mr. West was fol
lowed by Mr. Tafft; Mr. Starkweather closed for
the defence In a vigorous speech; and Mr. Fuller
closed for the prosecution, occupying two hours
and a half, Mr. Crosby reading such testimony as
he desired to comment upon. The hall was tilled
to overflowing. The Jury were then charged by
the Judge, and mired torconaoltution. After due
deliberation, they came in and announced, through
their foreman, that they could not agree. By re
quest of spectators, the Jury Informed the Court
toot thev stood eight for acquittal and four for con
viction. ’ At this present ume I think the people
here stand about in the same manner and propor
tion as stood this jury, while all unite in saying,
from the temper of the people of Manistee as
shown by their recent meetings, that George > an
derpool ought to have a new triaL”
XAMSAS.
The Catholic college at Wamego, Pottawatomie
County, is contracted lor at a cost of a tittle over
sloo,oo®. The “ ladles of the Sacred Heart ** hare
also laid out the grounds for a female seminary,
but the contract la not jet let.
The Abilene ChronUU says that during the sea
son of 1569 about 100,0& bead of cattle were sold
lo that market, 40,000 of which were shipped to
Chicago alone. Old cattle-dealers predict that
there will be 300,000 head of cattle in that market
during the coming falL
The Lawrence TWhtmesays; “Mr. Henry Mc-
Gionghlin writes from Topeka that be has made
groat discoveries of silver In Western Kansas,
though he don't mention the exact spot. He saya
from one 4 non-resident lot he bos tskcti at least
*5,000 wunh of pure stiver.’ lib says It la kept
’quiet.’ We arc afraid Mr. M‘ Glonghlin has found
too much silver, and we wonld not tike to tell
eveiylxxly until the trespasser on the non-resident
land gets away.”
At Highland, n (cw days ago, a married man
named James Welland, aged SC years, eloped with
the wife, aged 57, of a mao named Hess. They
look with them about *£oo belonging to Bess.
KISBOCHL
A man in St. Louis has sued a fellow-tenant in
Ui« nano building, because his seven children all
play the trombone.
The Louisiana Journal says: “Farmers Inform
us that a much larger crop of tobacco will be plant
ed in ibla county this yrar than has been planted
(or several years. The low price of wheat, and
the partial fallore of this crop, which now seems
inevitable In consequence of the dry winter, h&a
directed the attention of fanners to tobacco
again.”
ilrs. Dr. Knccklcr, of Cincinnati, has the reputa
tion of being one of the best botanists lo the West,
and It U sold that her collection of plmts, gathered
by herself, la the best In America.
IL M. Turner, of the Salem distillery, has paid
$2,000,000 revenue tax since that assessment came
Into fashion.
A woman-suffrage lecturer writes to the Dari on
tremon’* .-tilpocafc an account of « serious dilemma
she was placed to at New Lexington. She »w
posted lo epeak on a certain evening recently, bat
the Trustees ol the church declined opening its
doors tober because iherulea forbade politics lu the
building, and the Coort House was closed against
herbeause on y political mootings were tolerated
•ML Attcrdcararul balancing ol the pros and
wns, however, It was
authorities that there was enough of politic* to
the woman suffrage movement to the
lecturer In at the Court House door.
In loading the cars of the Payton A-Michigan
RallroM with lee, the powerof steam is applied •
directly to the froren surface- A train of cars fa
backed op lo a curve near tbe ahore of l&e river or
hayou, a rope ts extended from the locomotive to
the larceK atted lee-cake*, and the latter are
dragged up by the motion of the locomotive on the
tract Thus’sli cars arc loaded per hour.
THS TSUttTOMEa.
The Fort Scott/Waaya: “AH white men who
have no claim of sfllllatloa with tbe Cherokee Na
tion hare been notified to leave. Tbe feeling
against making this land a Territory, as proposed
in Congress. Is creating quite an excitement
among the •lerokecs. The rallruad win encoun
ter great hostility in consequence of tbl* agita
tion."
The lAnunle Smb'iwl, of the Wtb, njtt ‘The
District Conn vwtenJay discharged the FrUi Jury,
sod kmut toe Grand Jury were dismissed. Chief
Justice ll'uwc, In botolassaoMS, made some very
Interesting remarks. His Honor said, to sub
stance, that If, to the outset, he had some doaWs
as to the success ut the experiment of female
Jnrtws yet, finding each »law upon our statutes, U
fit jus sworn Oatv to IklthtnDr, honestly. ssii im
partially execute It, and that the result was m the
wahew. degree eatwtactory. There wnuo fulsome
flattery,in the remarks of the Coart, but a candid
and ' respectful acknowledgement of
services faltnfnT!v rendered and dutii* conscien
tiously discharged. in dismissing the grand jury
10-dav.Ws Honor «dd; ‘Tothmc ladles who arc
members of the grand jure, the Court also deems
it but Just to say that, by your intelligent, falthfnl
and conscientious discharge of doty, as well as by
your great propriety of conduct, you hare realized
the Just expectations of those who saw fit to con
fer npoa you the right to participate to the admin*
Utratloa of Justice. If future grand juries in this
county, shall follow the example you have set, as
surance will thereby be given to antbat crime and
immorality will no longer be winked at, but all
offenders will be brought to justice, and that the
law and toe coons may uteiy be robed upon foe
the protection of the peopla. Ton are discharged
from further attendance, and too court win now
adjourn.' ~
PgRSOSAU
The Sxnptes of the French often aaokes ten
cigarette* in the course of ft day.
, Alexander Dumas, Sr„ say* he knows better
thsnhlaphysicianscan ten him that howfll hot
Urc another yew.
When Rochefort was a very yorng man he wrote
a poem to honor of the Uccma of the Xsnucoiate.
Conception.
The Archbishop of SeriUe ku the credit of
being the handsome® prelate at the Ecumenical.
Cbarltt D. Shaaley t* announced u editor of the
forthcoming Pranekiaelie, and Stephens as Its lead
ing cartoonist.
George Eliot win bare a new poem, several
hundred Itoea to length, to the April number of
Sfarmillart** XaffarfM.
junto McCarthy and hu wtfc are gotßff home to
England to close up affairs, and will return to
America to lire. . ,
The female Jig dancer of the Boston AdclpUl
Theatre, Is Miss Clara Burton, a member of the
Shawmut Avenue Church.
Henry Ward Beecher edits The Chwci Cniem
Mrs. Henry Ward Beecher Is to edit a domestic do
artmeat to it, mad Mna Harriet Becchcr Stowe la
to write a serial story for it.
Le RawU the Radical Paris paper, always calls
Ltacoto u • worttagman.’* When I* Omattfuhow
nti, the other day, mated, to reply, that Uacolo,al
though he had waited at one tiac on a farm, had
been » lawyer for many year*, 1a Rappel pro
nounced that assertion a falsehood.
It is announced at the close of a decree by the
"Brazilian Emperor that tht functionary charged
with Ua execution is the Viscoant Itaborahy,
Counsellor of States, Senator of the Empire, Presi
dent of the Council of Ministers, Minister and Sec
retary of gtate and Finance, and PreaWeat of the
Tribunal of the National Treasury.
Jim Fisk lately used a remaitable figure of
fprcch in regard to Hun. Barlow, one of his finan
ciering antagonists. He charged Sam. with “ pi
rating around to see wbat be could root out,"
said be bad “struck a barren placer wblcb did not
to pay for the conn-plaster to coyer
Which his rooting made on the end o
Ear the first time In the history of Rensselaer
County. (Bays tbe Troy, N. Y~, Tins* % colored
man acted as counsel in a criminal case in the
Ccorfot Sessions on Friday. Be was tbe cx-Bar.
Jacob Wright, of Lanalngttngh, who had been
assigned by our Democratic County Judge to the
defence of James Anderson, also a colored suit,
who was charged with an assault with intent to.
Kill.
Tbc New York A'tm says: “Admiral Farragul's
letter on the subject of assimilated rank in the
navy, which, although filed in the record* of the
detriment, be has declared to be a forgery, tarns
oat to be genuine, alter all A paymaster by the
name of Looker bus Identified It as one which the
Admiral himself gave him. The Admiral being
sick at tbe time, Paymaster Looker wrote the
body of the letter, assisted by one or two of his
friends, and the Admiral signed it.”
Elizabeth Cordrey, of Tyaakln District, Somerset
County, MA, was bom a mnte, and was never
known to utter a syllable, until Saturday of last
week, on which flay she was so yean old. She had
been confined to a bed of sickness for some time,
when, on the day mentioned, to the great surprise
of her family and friends, she began talking fluent
ly, and from then to the hour of her death, which
occurred on the following day, she prayed almost
unceasingly, in an audible voice, and understand
logly. The lady has two slaters and a brother, ala 5
mutes.
A foreign journal says: “ Dr. Stmaterg, of
Berlin, called the Railroad King, was a. few yeari
ago a simple Journalist in New Turk. Here
be Is a kind of Marquis of Carabas—the railroads
of Roumanla arc all Ids, also, the fortifications of
Antwerp, the manufactories of Erias, etc. Last
week be bought In the district of Posen, two do
mains, for five million thalers. Tcwiay he baa
caused to be distributed to 4,000 poor people of
Berlin COO tons of wood, and, also, he baa given
orders for food to be frtven to 10,000 people during
the extreme cold weather.”
MISCELLANEOUS.
There are 1,789 prostitutes in the great female
prison of 8u T.azare, near Paris.
There are 107 bookstores in Berlin, and ocaily
too in Leipzig.
Paris has 9,n00 chiffonier.*, s,ooo of whom are li
censed, and a,ooo interlopers.
The cost of tbe new Liverpool Exchange is esti
mated at jfsoo.ooo or ft .ooo.oof.
An enterprising Frenchman has offered
6,000,000 Uvrcs for a ten yean’ tease of Pompeii, as
a “show.”
A girtln New London, who was to have been
married on Saturday of last week, ran a pin into
her band on Thursday, and died on Friday.
. A writ er from Chihuahua aaya he attended a
dance where he saw a sign over the door which
read: “No gentleman admitted without pants
on."
A tn«n keeping a store in San Diego writes that
the gold excitement is a fraud; that the rich
quarts exhibited there was brought f rom]Artzon% t
to get up an excitement for trade.
; The DownlevlUe (Cat} Kttsfnytr says that 11 a
dozen Chinamen organized themselves Into a pack
a few days since, and brought to town from
Shady Flat a safe weighing over 1,900 pounds. The
sale wasslucg on a lona pole, and It took a day
and a halt to bring it down.”
According to the new Kusslan penal code, wo
men are no longer to be flogged, in Poland and
Lithuania, however, the police magistrates sen*
tence women, not to be flogged, bat to be birched,
which the poor offenders ssy is tea times more
painful than the lash.
A citizen of Readout, K. T.,who married two
days after the funeral of his flnt wife, na- started
with hla new bride on a compulsory brlL'.il lour,
at the Instigation of his townsmen, who r.*;t ag
grieved at hla precipitate wooing and wedding,
and advised him to leave without further cere
mony.
< new way of advertising in the journals hat
)o»t been adopted by the first dry goods store la
Paris, viz., To publish a plan of the shop, Us di
visions, where the different counters for special
articles exist, and the department where the
“ fanning sacrifices ” take place.
At Murroe, Ireland, recently, a bridegroom was
:hoked to death by apiece of pork at the nuptial
roast, and the father of the unfortunate girl, so
ipilctly made a widow, took possession of the
w-arcely breathless clay, and refused to deliver It
into the bauds of relatives until the dowry had
l**en returned. The dispute almost led to blood
shed.
The Texans arc packing 27,000 beeves this win
ter, costing at the packcrics two and one-half to
three cents In gold per pound, one beef making two
barrels. Two-thirds of this amount U packed in
tierces and sent to Europe. These packcries arc
located near water transportation, and arc entirely
distinct from the great slaughter houses where
cattle are killed for their hide and tallow.
When that little marvel, the portrait of a eondot
litre by Anioncllo da Messina, which Is now In the
*fllo» carve of the Louvre, was put up at the Poor
talcs sale, the combatants were France and Eng
land. The former finally got the picture, which U
only twelve Inches square, at the price of 10,000
guineas.
Jefferson County, New* York, contains an Indi
vidual who held, according to hl« own belief, $l3O
in Cnittd States legal tenders. There was no
question of the accuracy of the “ counterfeit pre
sentment" of Sccretaty Chase thereon, but there
was a want of the signature of Treasurer Spinner.
The owner, therefore, sent them to that function
ary with the request that be should cash them at
once, as he wanted to use the money, and they did
not pass entreat tn hla vicinity, “not being
signed.’’ They were the usqjJ foe timiie photo
graphs.
The “ pedespeed" la the name of the latest Yan
kee notion for the purpose of increasing man’s nat
ural speed. The velocipede having played oat,
except aa a device to Increase labor, the “pedo
speed" comes in. Itconaists of two wheels, four
teen or fifteen inches in diameter, one of which Is
attached firmly to each foot by means of a stirrup
like contrivance,-and to those who understand It,
possesses all the capabilities of the state. To use
it requires ItlD acquired only by practice, but when
acquired there Is stating the year round—so says
the inventor,
“(trace Greenwood," In a recent letter from
Washington, says: “While on a visit to the Land
Office, I was shown by Mr. Wilson, the Commis
sioner, a singular relic of a late fight on the Plains
It was a garment taken from an Indian Chief, after
death. A shirt of buckskin, made without the.
usual ornamentation of beads and porcupine
quills, yet graced with something quite novel In
the decorative way—a toll, long fringe, formed of
the half of white women and children. It was a
ghastly adornment: Indeed, the entire garment
was a very unpleasant thing to Inspect. The only
point In It on which the eye conld rest without hor
ror or pity, was a small round hole, beneath which
the raging heart of a human wild beast came one
day to a full stop."
The San Francisco FulMfn of the 15th gives the
following account of an incident that recently oc
curred la a restaurant la that city: A modest,
pretty-faced girl entered the dining-room, accom
panicd by two wch-drewd mm, and took a scat
at one of the centre tables. After the usual dinner
had been gone through, one ol the men took a
bundle o! cigars from Ms pocket, helped Ms com
panion, and then, half In jest, offered one to the
girl She took it without hesitation, struck a light,
and appeared to enjoy her weed Immensely. Pres
ently the waiter dropped the three chocks on the
table, which the lady took possession of, although
the gentlemen made some feeble remonstrances.
Producing her purse, she marched boldly op to the
counter, followed by her sheepish looking compan
ions, and paid the bill “ like a man." The specta
tors tittered, the masculines looked mil more fool
ish, but the lady, puffing her cigar, sauntered Into
the street, evidently perfectly satisfied with her
part of the transaction.
At a prayer meeting In Buffalo, the other day. a
gentleman made a speech on the sin of Intemper
ance. Ho was followed by a lady. who. alter
berating wing Alcohol, expressed her belief that it
was a grave sin for parents to allow their young
children to* nse of condiments, as they were sure
to inspire them with evil passions, and create a
taste for inebriating beverages. This raid upon
the seasonings was productive of quite a sensa
tion. Whereupon the Buffalo E*prt*» says:
« Cocs'der for a moment the untold ferocious
feelings inspired In the breast of the newly-weao
ed infant bvthe administration of salt, tending
completely "to destroy the moral organisation, d«s
nrave and bnitallts the Intellect, and OnaUj cal
inmate in enme and a shameful death- Then of
the debasing Influence* of pepper, kindling unholy
fire within the vouthfal souk causing it w bum
with the fiercest passions of deßmetion and res
venge. What a long category of rtn and enme
jngv be traced back to the immoderate use of the
stimulating mustard, ami how many hearts hare
felt Us smart In feelings of abatne and remorse.
\nd then how many voulhfnl minds hare been
soured to evemhlng that U good and ennobling
bv the uiconalderatlon of parents ta allowing them
vinegar and pickles."
POLITICAL.
Senator Bevel* «aya be was onoc cxdoded from
the Senate gallery on account of color.
The Washington star describe* General Ames,
Senator-elect from hliaslsalpP*! 43
hanrteome-tootlng chap, with a nice blact moos
tache."
HcptwenUtlTo Proaer, of Tennessee, an
noußce* that he will hare a competitive exarnfra
non for his West Peat cadetship, to which only
colored boys will be eligible.
in Pajtoo, a, Mhs BUrt, one of the females
whorodelaa-VaUindlghaßcsitlnWa day,under
an aacrtpflOD “ vrhtu nu*2*xnd* or .Vw,' has
married an nnadoherated African, named Lee
Kelly. '
A yon&gOeaocrat named Waller and the noted
Cleveland are stumjrfnjr in Connecactxt together.
Trailer apeahs first, and then give* Cleveland this
introduction: «I ah*n now aoon clo«. I ae*
there is a brass band before me, tod 1 can assure
you there I* a bnuw bind behind me, (tamJo? and
pointing to aerdand), nrhieft ywt are aoon to
hear."
The ABan? &p*T** publish tw the following par
aertph mm a private letter from Senator Fenton:
Y ««r.vrra> Statss Sekat*. \
« Wasthnotok, March IS, tSTO. i
. . • “Fefcntww the let
ter canid anything be more weak on tai part ox
friends, or more wicked oo the part of eoemU,
»tnn the talk about my being a Presl
{jrett I certainly entertain no such P Qr P£*fi
General Grant’s administration la doinc »
well, can I deem It necessary or wise for : l “
porter* to take into conrtdcratioo an?
u*fier»Mp. Very truly touts, e. E. Ferros.
Tbe old panoeraac a-ooctatioos of the city of
New Tort, tbe Tammany Society mad the Maahat--
tan Cob, have a rival whkh promises to become a
great power. It is called the Andrew Jackson
Club. The lending spirit of the organization U
Sheriff “Jimmy ” OTOax, somewhat of aremark*-
We hi* aswctatiaos, who neither drinks,
swears, ior use* tobacco la any form. “Aware
ol hi* band wm control the roughs who are to bta
wake. Ula personal magnetism is unbounded, and
he handles men like CbUdrciL*
A Camden CB. C.l correspondent of the Winning
ton .saw aspens that a sptrtt of opposition toMr.
Wblttcncre ha* sprung up there among the col
ored people, headed by a prominent colored poim*
clan, named John H. Chestnut, now representing
the county in the Legislature, and that, when Mr.
Whitlernore appeared there on the lath and at
tempted to speak. Chestnut interrupted him; a
small row ensued, and lima found necessary to
idjoomthe meeting. Tbe next day, however,
VHdttetnore spoke, and wa* replied to by Chest
nut, and the result is that the negroes are much
divided in sentiment respecting the merits of the
affair and the advisability ol reflecting Mr. Wblt
t icmore to Congress.
THE FUNDINB BILL.
Important Protest Against Its
Passage,
Action of tha Chicago Clearing
House Association.
Disastrous Effects of the Bill oa all
Branched of Business.
Argument of Henry QreonoTmnm
Against the AEoasoro.
Tbo National and private bankers of
this dtr, constituting the Clearing House Asso
ciation,‘in conjunction witli theropreaentatives
of several banking institutions in other parts
of the West, yesterday bold a meeting to con
eider the so-called Funding bill, now pending
in the House of Representatives. After an in
terchange of views, tbe following memorial
was adopted:
To the SfnaU and Bmtte tj JUprtatniaXivt* of th*
CuiUd STatu, in Congrtu autmbled :
The undersigned, business men, bankers, and
tbe representatives of banking institutions
other «>.«n National Banks, as well as those in
stitutions, respectfully represent that they
view, with alarm, tbo provision in Section 7
of tbe Funding bill, so called, which baa re
cently passed the Senate of tbo United States,
requiring tbe National Banks, upon pun of
forfeiting their circulation, to exchange the
bonds already deposited for the now bonds re
quired to be issued by said act, as tending to
disturb the financial condition of tbo country,
and embarrass and injure monied transactions,
and produce vast loss to all engaged in mer
cantile operations, and consequent great detri
ment to the country.
We do not regard it as a question simply af
fecting the National Banks. If it wore so we
should feci much less interest in it. Wo are
of the opinion that no each change can take
place without greatly diminishing the value of
tbo bonds now held by tbe National Banks,
and, consequently, greatly depredating tbe
value of all United States bonds.
Tbo measure connot be otherwise regarded
♦Ran os an attempt, by an act, in spirit at least,
unconstitutional, to deprive, arbitrarily, one
class of citizens of rights of property which arc
held sacred in tbe bands of others; or as an
attempt virtually to confiscate a large portion
of tlie capital of tho National Banka.
The undersigned believe that tbo less legis
lation wo have upon the subject at the present
time except, perhaps, to remove all obstacles
to free banking and to place all banking and
banking institutions upon a footing of equal
ity, tbo better. They, therefore, pray that
aaul provision may be stricken out of said bill,
and that.no legislation may take place that will
in any wise tend to diminish the banking cap
ital of the country, or impair confidence in the
fair dealing and good fath of Congress in its
legislation upon the subject of hanking or the
currency.
They beg leave to add their conviction that
the faith of the country in National and
banking cannot be maintained, unless Congress
sets upon the same principles in relation to
them as are recognizedm the States in relation
to such institutions, to wit.: that no legislation
is to take place to unnecessarily interfere with
or disturb the value of property created under
the encouragement of acts of incorporation, so
long as the incorporators, in good faith, comply
with tho provisions of iho acts of incorpo
ration.
They submit that the reservation of tho
right at any time to amend, alter, or repeal tho
Banking act, was never intended or under
stood to imply the right to destroy the value of
the property of the corporations, or to legis
late unjustly against it.
As a matter of necessity, in time of war, wo
cheerfully submitted to the entire change of
tho banking system of the country, so far as
circulation was concerned.
Our present system has worked well. Any
change in it should be prospective,
and sot interfere, injuriously, with
vested rights, or rights of property;
and should, under no circumstances, bo per
mitted to take place in a manner to create ap
prehensions m commercial circles, at a time
when the whole business of the country is suf
fering, and such large nurul<cra of persons arc
out of employment.
V%e> doubt whether any considerable number
of capitalists can bo induced to enter into the
business of hanking under tho provisions of
tho Funding btU.
We fear that the legislation proposed would
produce wide-spread and general disaster.
Chicago, March, IS7O.
am. anZESECAtm’s abocxiext.
Mr, Henry Oreeuebaom, on behalf of the
private bankers, drew up tho following argu
ment:
Chicago, March 24, isro.
7b fie Sperial Cmnitttt pf Five on the “Funding
bill,* arjmintfd the Chicago Charity Uotut
A awrianon;
GmmjQtES: Your sub-committee, to whom
has been referred the so-called ’‘Funding
LUL" as passed liy tbo United States Senate,
with a view to define the position of the North-
west to this measure, having had the same
under consideration, beg leave to report as
follows:
Tho Funding HII consists of 9 sections. Sec
tions 1, % ana 3 authorize the Secretary of the
Treasury to issue, at not lees than par,'in coin,
$100,000,000 each of 10-40 a, 15-iOa, and 20-4Da,
bearing respectively 5 per cent, 4>{ per cent,
and 4 per cent interest per annum, payable
semi-annually. Section i exempts such bonds
from taxation.
Section 5 authorizes iho Secretary of iho
Treasury to appoint agents in the United States
and Europe.
Section 6 appropriates from tho duties on
imports £1£0,000.000 annually toward pay
ment of interest and the redaction of princi
pal.
Section 7 obligee National Banks to deposit
ono-third each of the three Series of bonds in -
lieu of 6 per cents and S pec coats now on de
posit.
Section 8 Cmita the circulation to 80 per cent
on par value of bonds, instead of 90 per cent,
as new authorized.
Section 9 authorizes tbo issue of National
Dank notes in sums not less than $50,000,
a garnet surrender and cancelation of equal
amount of United States notoe.
The passage of this bill could luve no bo
neficent results whatever—the only practical
effect of it would arise from ita compulsory
provisions upon National Banks—ana these
provisions are so stringent and inequitable
that their effect would be to sweep all National
Bank circulation from the Northwest. For*
thennore, they would force the. G per cent and
6 per cent bonds, now on deposit, as the basis
of the present circulation, upon the market for
sale, impairing materially the government
credit, depressing the market value of bonds
below par, even in currency, creatine and com*
petting such a tremendous curtailment and
contraction of credits as to cast
wide-spread disaster through the whole North
west, as wo shall proceed to show.
Section 1 of the bill authorizes the issue of
5 per cent 10-40 bonds. If the placing or sale
of a 5 per cent 10-40 bond at par in coin wore
poesibte, the Secretary of the Treasury is al
ready authorized to issue them. The quota
tion of this class of semities (10-40 s), on yes
terday. at London, as per cable report, was
86}*. ‘ With sterling exchange at 108-$ it equals
SStJ, a discount Of 6>£ per cent, to sav noth
ing of accrued interest, which, in tho Ixmdou
quotation, goes to the buyer. It is clear,
therefore, that a 5 per cent bond cannot now
be placed abroad at par in coin.
In tha face of these facta, how completely
chimerical is it to expect to place a 4% per
cent loan at par. and more so a 4 per cent
loan at par in the foreign market.
We can imagine the ironical audio of capital
ista at the Bourses in Beilin and Frankfort,
where Camphausen. the Prussian Minister of
Finance, with the aid of the House of Boths
t»vnd are sow offering a premium to holder*
of Prussian bonds to land their securities into
the consolidated per cent Prussian bonds
authorized bv their fandingWD, passed on the
19tb of December, 1869. Wo doubt that tho
patriotism of the Secretary of our Treas
ury would bo judged at a
premium over his dnaurial judgment,
so much of the European market and the ex
pedieccr of the provisions of Sections 9 and 4,
as also Section f, providing for the appoint
ment of Europern agents and advertising in
European papers, la it, perhaps, expected that
a 4k’ per cent loan and 4
per cent loan could be plaoed at
par in coin in tr 1 * country, where the lowest
rate of bank interest anywhere is 7 per cent
per annum? The interestbcmgpajable in gold
ceases to be anv inducement whatever, when
the whole tendency and effort of the scheme
is to bring the depredated currency op to a par
value with pcid. , . . _ u _
We will rireipawnnr'DPtice to bectton p.
It gtipnlatea that $150,000,000 gold shall be
Ukon annually from the receipts of duties on
import# to pav the mtercat on the public debt,
and todecreafte the principal. Tma would ne
cessitate an mareaae el tariff to an extent far
tavond the consent mto of radical protection
ist smi decidedl? a backward movement in
the promised revenue reform. . • _
W« now pass to the conaiderafaoo of Section#
7 8, 9.
TherrelertoNatkAAlSaakcazcidstiocL We
bare already stated that the passage of this
bill would sweep National Bank orenlahon
from the Northwwt, and that it would entail
great eviie -upon the bnsinee community. _
Under the provision of this bill. National
Banks wiD receive SO per cent circulation on
as average 4J* p®c cent bond. Now, let na
look at toe investment withmoocT command
ing 10 per cent Interests
Tie National Bank Invests *I,OOO to abondat
*% per cent, rteJihnff »*i. It rrecJTM *«« cinni'
laLcnT araJnsl a Uch J2O« arc kept on band aa a
reserve, netting, at 10 per cent mtenst oa too,
’ Me. manne a crass income on *I,OOO of JJOo. A>e
dace from tlus l per cent tax oo
terest on nretftated notes oo band, ..exgtm
charge*, and otter expense* «-t*iw.teq wttn ntrn
btion, wv, i per cent, *?, niaXlnj 1-5, J^ cl *
learn a net larome ooJI.OCO ol
ol *U pet *i,f» on the enure bank capital invest
ed In government beads.
In this comrntatiOD we bare taken cold at
par. Wiih gold »t U2M, bow would tha qam
dollar bond. pwg****? g*A?* 1
US v, requires a correocy iß»eaMe« I
Interest for one year on thkamonnt. yiapercent.
U HUM; add tax oo ctrcalaaon. »adtxpenaeaa*
above, «$• and it amounts in an to EISS.W. The
addin*
S wld taWrtt on *45, txCt~tn all *110.61;
SakS a e£af loss of »P«
SI.COQ of bank capital Invested In b Q Q(ls * ,
In the dtrof New kork. and to >ewEng
land. with a bank i*te of interest of 'P" «nt
per mwim, with cold, at par .the tanks would
Sale a pro tit of «1 oer |I,(MO on their Invest
meet, wliflc with gold at thev would lose
that even if the National
flint* In the East would submit to the inequai
ity with other capitalists forced upon them by
this bill, that the Weet couid not do it—because
they could not submit to ao great a loss on the
investment of (heir capital. Wbat would be
tbs result? -
Tbs earns Section 7 authorizes them to
-deposit legal tender notes with the Treasurer of
the United States to the amount of their out-,
standing circulation, and to take up their bonds
pledged for their circulation. The National
Would bo compelled to adopt thiscourse,
tabs up their bonds and realize upon them
for more profitable investment of their capHaL
The ultimate result of this process would bo
a contraction of circulation so fearful that tbo
country would not recover for years from the
consequent disaster and commercial ruin.
And shall wo proceed to picture the shrinkage
in values. tbo depressed condition of manufac
ture, trade, and commerce, pending the nro
cesa of BhifHng of securities by the banks ?
Surely, when such a volume of government
bondg am to be thrown on the market, and the
market value drooping down daily, few Na
r tional Bank officers would want to fold their.
»rm. and look idly on to bo the last in protect
ing the interests of their stockholders. What
then ? Discounting by National Bank accom
odation, to customers without discrimination,
would bo stopped at once.
Each bank would need Us working capital
for tbo purpose of converting their bonds. And
could New York stand the pressure of tlila
movement? This volume of govornmontbonds
forced upon the market and the fearful effect
upon the market value of every other kind of
oocurityl We predict that *37 and *57 would
compare to the crisis to follow, like a gentle
breeze to a whirlwind.
We do not know what motives may have eon
trolled the provisions of this bill. We will be
charitable and say, that the genius of the bill
f«iia short of what our financial situation do-
macds.
But, is it honest for tbe government to. co
erce National Rank* into* tbo position forced
upon Him by this hill ? Has the government
tie moral right to discriminate between Na
tional p*nhs and other bondholders? VTo
sav, no - . , ...
Equality before tbe law is one of tbo cardinal
principles*of republican government, and even
handed justice must be tbo base of legislation.
Much more might bo said on tbe tenor of
this bill, and tbo corrupting and damaging in--
flacncea ii»*t would follow its enactment. Let
it suffice to say that tbe credit of tbo govern
ment and the value of Us securities can not be
’enhancedby effect-seeking and acrobatic feats.
What we need, urgently need, to strengthen
our credit, and to enable us in coarse of time
to fund the national debt at a lower rate of in
terest is a deliberate, economical, and honest
administration of our public and financial
affairs. Respectfully submitted,
Hmr GnEEKEDAra^
Committee.
TariU Reform*
from the Springfield {Meui.) Republican.
The Tariff bill has come up in the House for
serious tlificosfcion at last; but such has been
the change or rather expression of public
opinion upon the subject since It was reported,
Us mends hare substantially abandoned
Neither in its original shape, nor m any shape,
In fact, that shall retain either its spirit or its
forro.w ill the committee press it to a rote. After
debate has brought out what the House is will
ing to do and what not to do, they will ask for
its recommitment, in the possible hope of
contriving something very different that can ho
passed, or else devote themselves to so shuf
fling the whole matter as to prevent anything
being done, and keeping the present tariff, un
touched, upon the statute book.
The last is the result now aimed at by the
extreme protection party in and out of Con
gress. They will be quite content to be let
alono. The issue is no longer between the
Bresent8 resent law and one, like the bill reported by
ae committee, giving still more protective
duties: but between tbc law as it stands,
and such reduction of its dories aa will in
some cases tend to relievo burdens upon
industry and develop© manufacturing inter
ests, and in all rases to lighten the burdens of
taxation. The tariff reformers of every de
gree and theory are weU-nigh,*if not quite, a
majority in Congress. They arc strong enough
certainly to prevent any more absurdities and
injustice being done in the good name of pro
tection. If thev will bo content to begin with
moderation, and strike unitedly at a few of the
grosser evm of tbc present tariff, wo believe
thev can win a victory oven now. The reduc
tion of the present excessive and repressive
duties on pig iron and wool, and some other
artielcs. that belong practically to the order of
raw materials in our manufacturing industry,
and either have an undue share of protection
at present or need none at all, and the transfer
ence of still other articles of this character
from the taxable to the free ZWts, we believe
are practicable at this session of Congress.
The abstract question of protection or free
trade is not diroctlv involved in these duties.
If it is concerned at all in them, tbo modifica
tion wo propose ifl quite as much in the inter
est of protection as of free trade; and protec
tionists can as consistently go for it as free
traders.
It is time to begin legislation at Washington
on this subject In the name and for tbo benefit
of general interests, and to discontinue making
tanffs at the dictation of special interests.
Hero lies the mischief of what has been done
and is. It is from this that springs the fret of
tb® people. They see high duties imposed not
for a general interest but for a tangle personal
interest. They witness enormous fortunes
created by individuals who have gone to Wash
ington and got Congress to make of their trade
or their shop a monopoly- And the general
interest is crying out now against the special
interests, —crying so loudly and so wudly that
it behooves tho politicians at Washington to
heed the voice and begin to legislate for tho
benefit of the mass of their constituents, and
not simply for the aggrandizement of any six
or twelve of them.
The New England members are, especially,
not representing the people at homo on this
question. They hesitate to engage in the work
of tariff-reform, so widely aomittod. and so
earnestly demanded, by tho common voice, be
cause of tills or that apodal manufacturer in
each of their districts, who, most likely, la
taking the short-sighted view of bis own in
terests, aud demands a duty that ho does not
need, and certainly ought not to have. But the
Congressmen should consider that, while
these special and individual interests ore gen
erally the most exacting and the most revenge
ful,—filling the front rank and making up
in earnestness of tone for number of voices—
there aro times—and this is one of them—
wbdntbo general interest amuses itself, and
marches leleutiesßlv to its objects. Our Con
gressmen, East and West, North and South,
may wisely give hcod at once to the popular
voice’ for* tariff reform, if they would save
themselves and save their party. _ Unfortun
ately this is the sharpest motive with which to
appeal to them; but, fortunately, it appeals
now, and It win be dangerous for them not to
recognize and yield to it.
Another token of the growth of public opin
ion on this subject, and the influence it is com
manding in Congress, is iff the increased
strength of Commissioner ’Weils.' His reports
have done more than any other one thing to
enlighten the public, and thev and ho repre
sent tho reform which is so widely demanded.
\ Tear ago his opponent* were able in Con
gress to put their foot upon him, and to limit
his ofDco to tho Ist of July next. Bat now no
is strong enough to'have it continued,
w ishes u. Ho should wish it—not for him
self simply, but for the cause h© represents
and has so* ably served, and has so much power
to further advance. The friends of tariff re
form should unite and make a point upon him
and his office. Congressmen who represent
special interests and special monopolies may
not like him ami his work ; but b© has inter
ested and enlightened the country, and that
country wants him to be kept at bis work.
>Vom the Drtrvil rribmw.
The present tariff was made ancler th*
pressure of war necessity, when all the efforts
of the nation were directed to the preservation
of its life, and income was dooMy welcome
from every source. It was peculiarly a time
when special interests were enabled to build
themselves up. and. in doing so, to tempora
rilv promote the public interest at the same
time. Hot the war is over, and the wholo*pul>-
lic aspect of affairs ia changed, and the ques
ticn comes up, do we want the same high tariff
under this greatly altered condition of affairs ?
We think not, and the objection to the amend*
! cd tariff now petting ifl that, while it has en
larged the free list and reduced certain duties,
1 the reduction is mainly in the direction where
the tariff duties go most directly into the Troae
ruy. and are not divided with the manufacturer,
wfiile on many articles of universal use an \
consumption the duties are actually increased.
The effect of these duties upon the prosperity
of the masses ia a subject of legitimate and
practical inquiiv. The range of information
required for such an inquiry ts so wide, and the
instigation so toilsome and extended, that
bat few men can undertake it, and legislation
must, to a large extent, be based upon the
labors of those who can.
In our own countrv there has not been so
weD-oquippod and thorough as investigator as
Commissioner Wells. He traces the effect of
certain features of out tariff legislation, and
finds them injurious to the public welfare, and
he recommends a change. Be does not write
in anv special interest. Always an advocate©!
the protective theory, the outcome of hu» in
vestigations has made that interest hostile to
bim l although the very tariff schedule he pre
sents in hi«la« report is one of moderate pro
tection. and has heretofore been condemned
br the Frrr Trader, which has substituted ooe
of it* own Instead of his. He is iust now the
subject of general denunciation bv the high
protection interest, and accused ct misrepre
sentation and falsehood. It is quite possible
that be has mistakes in statement and
drawn erroneous conclusions, but as a whole
hi* report remains tmeontroverted. Many of 1
the so-called triumphant refutations are do i
refutations at all, as his own rejoinders in sev
eral instances have shown. But Mr. Wells
does nor stand alone. He gives voice to the
investigation and experience of many others,
and is supported by a large body of public
opinion. ... .
We have in tha manner to ms report
to give expression to our conviction thar it ia
by such investigatioES as he has presented, that
wo arc to arrive at the best mode of tanff leg
islation.* The effect of imposts, whether for
ruatern duties or internal revenue, is a matter
of fact. XI thev act well it can bo shown, and
if ill it can be shown. We ought not to be
warned from investigation into detaO because
some one holds np before ns a •• general prin
ciple,’' so-called, which mav be only a theory
after all, and teO* us that that settles the whole
matter, ,It settle* nothing, except aa mvesu
gatren istodeUHs shall uphold it* Finding the
operation of tho InternalTJcveano law defec
tive, it is amended. Finding tho Reconstruc
tion act* inadequate, ox operating badly, they
were amended; and so with legislation gener
ally. WBy not 'treat the tariff in llte wme
common sense way ? The Committee of Ways
and Means suggest* certain changes tn st ; and
why cot the Bouse, considering in detail its
various features, suggest others ? It sccma to
us the rational, common sense process to amend
the tariff wherever experience shows il ought
to be done, and afford the people relief at the
l earliest possible moment. If only a few »mcao-
Itncnte pf far-reaching duties can bemad?, let
us have tbem. "We cam see no goed vens-e m
mating out a complete bill and masting on it
as a whole, tad if it is defeated, as it must be,
securing nothing at all.
A year ago we did whst wa could to rwwr®
as increase ot the copper tariff. It was wait
the ccppcr interest of our State wo
dc£irca to do what we eonld for it. But now
th© copper interest itself doubts if t—at
latiou has benefited it. and the loading Lake
Superior paper, published at Houghton. t
*• tfe frequently hear the remark— Hie tenff
ha* done us no good,* ** and it admits that the
fact that it has Sena good is mat yet dgmon-
I * liable, Tho other Say, Mr*
the largest woollen mauufarturw to Umcoun
trv. punished a letter ia which be etatedthat
[ if’the dutiee ua raw material*, employed m
woollen manufacture, were abolished, he would
eladlr agree to the abolition of the duties on
wooilcne. He av era that tbo tariff, aa it now
standsfii rmnißg the woollen into rest- Thus
w « mo that eTcn, those who are presumably
teuefiledbytho tiriff, are wiring themopitt
iosrfand'dottbtingin aotne canes whether they
hare derived any benefit from U, and doclanng
inotberathatithaainjured them. Tbia tot
fact of itself calla foe investigation. The real
mioetion lost now ifl not the establishment of
?SJtxade or protective theories, bat a prac
tical revenue reform by which the people may
of an immense burden of direct
tAX&HOD * J-Yom the ffl. Imm DmocraL.
To prevent all action—that is the latest trick
■ of the monopolists ! Not daring to nsk their
bill of abominations in the Bouse, knowing
that a majority will never dare to vote for a
hill which increases the tariff, hat is <jaito Hke-
W to cat down the duty on. every important
branch, the monopolists are devising ways to
fiUve off all action, and to leave the tariff as it
stands. That will suit them, of course. One
year more of pnbllc plunder, at least, they wfll
£aind Tbo scheme is to put in a bill changing
the internal revenue taxation, and give that
the precedence, while the Ways and Moans
Committee permits ita pet bin to bo talked to
death in committee, but takes caro that it shall
never come to a vote.
There has been a great change, and a change
altogether for the better, since this same Con
crete met. Then there was some prospect
that the increase of duties would be carried,
and the monopolists with reason boasted that
thev had » sure majority on every tost. When
tho'matter came to a vote it appeared, that
thev did indeed have some sort of a majority,
but’a fatally large number of members bad be
come convinced that their constituents would
never look at them again, except m
wrath, it they voted for increase of taxa- 1
tion. Hence, on the preliminary votes, tho
protectionists have had votes enough to dodge
a square issue, but never enough to carry
anvthing. Now they begin to fear that tho
opposite side may have voles enough to carry
some bOl decidedly not protective in character!
In view of this great change, tho monopolists
arc trying to avoid all votes, and leave the
tariff unchanged.
Well, gentlemen of Congress, yon can vote,
but vour constituents will watch. Ifyoucomo
borne without a rational reduction of taxation
of tariff as well as internal taxes, such as
General Grant suggests—we shall be- very
much surprised if your constituents do not
pick out a great many of you to stay at home,
and elect von to that office by largo majorities,
i Try it, if ‘you doubt our correctness of judg
ment! Let this session slip by, with your
aid, without any definite action ou tho tariff
question, and then see if your constituents do
not hare something to sav when you come
back! If you fancy that tho people know
nothing, and care leas, about this same ques
tion, trv it! If you fancy that a man can bo a
straight high-tariff protectionist, or a weak
and cowamlv trimmer, just try it and come
homo! We'are mistaken if you do not get
undeceived.
A SIHGTJIAE CASE.
A tVcalihp Californian Vnßnovring
ly .Harries HhOnn Daughter.
From the San Frcmei* eo Tribune, March 9.
It would seem, from the frequent occurrence
of remarkable incidents, that there is certainly
nothing of an improbable nature, judging from
the following wonderfully strange and hardly
creditable story which came to our car* a few
d&vti since.
in the spring of 1549, when the gold fever
was at its highest possible state of excitement in
California, there lived in the State of Virginia,
cn the banks of the York River, a few miles
below Yorkstown, a gentleman of culture,
whoso parents were in moderate circumstances.
It was during the gold excitement ho left the
comfort* of a home, his friends, relatives, a
loving wife, whom he led to the altar but a year
since, and an only child—a daughter of two
months—and took up his lonely journey to seek
his fortune in the wud, distant West, over and
bevond the Rocky ilonntaios, where tho bright
and golden eon sinks down to rest amid tho
blue waves of the grand Pacific.
After veare of toil, drudgery, and reverses of
fortune in the mines, ho came to this city and
engaged in business. lie being successful,
soon amassed an immeneo fortunes. His be
loved wife had died during a prevailing
epidemic while on a visit to some relatives
during the yellow fever season at New Orleans,
as at the same time did a little girl of another
fatnilv, of the same name and age os his litttlfl
daughter. He visited the States, but could
laid no clue to liis deceased wife’s sister; be
thought, naturally, she. too, had died. He re
turned to the Ooldcn State, and time and the
whirling excitement of business soon
healed bis sorrows, and effaced, apparently, all
recollections of his old home on the banks of
the placid York.
Shortly after tho completion of the Pacific
Railroad’ there arrived at this oily a gentleman,
his wife, and a beautiful, and’ well-educated
and graceful young lady, just blooming into
maidenhood, apparently and really about IS
summers. It was by chance the young lady
and aged widower met—and to meet was to
love. They were duly married after a short ac
quaintance': the ceremony being celebrated
with great eclat, and creating no little flutter
in tho fashionable and wealthy circles of our
city. The fact that both parties boro tho same
Christian name excited no comment or inquiry,
as it was one almost quite as common as that
of Smith or Rrown.
A few weeks after the marriage, as tho hus
band and wife naturally inquired into each
other's past history and antecedents, and were
gradually becoming better acquainted with each
other, th'o denouement came—they were father
and daughter-man and wife; the instinctive
love of the parent for the child, and tho daugh
ter for tho father, had been superseded by tho
strong emotional passion of sexual love. Both
innocent at heart, both foully criminal in the
eves of man and God.
* His daughter was not dead, as he supposed;
but, after tho death of bis wife, was kindly
taken in charge by his eiatcr-in-Uw, who bad
married and moved' to a distant State, and who,
also, with her husband, accompanied lus wife’s
daughter to this coast, to meet as strangers,
lovers, and subsequently. parent and child, as
they were cultivated, passionate loro changed
into filial and parental affection.
specie Payment*—A niiucMta
Opinion.
Frets tfie St. Paul Prftt.
have a a notion that. In this business.
Mr. Boutwcll has missed a magnificent oppor
tunity to distinguish himself above all the
finance ministers of the ccntnrv, and to accom
plish a splendid financial stroke of statecraft
for tho benefit of the Treasury, and all the in
' tercets of the country. We fear ho baa failed
to give ns epodo payments when everything
was readv to bis hand for such a oonsumma-
tion. On Wednesday. March 9, gold closed at
hiring touched that day. On Thurs
day It opened at 10_K. amid much uncertainty,
soon feu to 10K> and after rose to 12>%. The
figures themaelvea, aa veil aa the reports ac
companying them, rhow that on Wednesday,
and pari of Thursday, them was no strength
to cither clique operating for a rise or a fal 1 .
but that all was uncertainty and timidity. Wall
street was in a muddle, aa it had been for sev
eral dare. Here was Mr. Boutwell’s opportu
nity While this uncertain condition lasted,
and before the first combination for a
rise einco the black Friday of last
September could be formed, a single
despatch from the Secretary of the Treasury
to the Sub-Treasurer at New York to pav
specie for all matured liabilities would,
we imagine, have sent the bulls and bean, and
whatever other beasts the Wall street menag
erie might contain, flying in all directions to
their dens, as Sheridan sent Jubal Early ami
hla rebels whirling from tho Shenandoah.
While brokers and speculators were higgling
and pottering over or Ja of a cent differ
ence in a given amount or supposition* gold,
an official ansurance that plenty of real gold
could be had ly any ono possessing green
back-", would have broken the back of the gold ,
premium, ended the career of the Gold Hoorn,
and left a large nmnbcr of its habitues without
employment, and probably without visible
means*of support. -Tho Treasury held io».-
OOO.f-OO in gold of it* own, besides t44.000j000
covered bv gold certificates, and the Sew \ork
banks, wtoeo cooperation could have been
counted upon, possessed some $y5,000,000
more. It is not ukely that a moiety of these
viet sums would have been drawn from tho
vaults by persons anxious to test the earnest
ness or the ability of the government. It is
certain that ten per cent of tho amount, ex
changed for legal tenders and placed in the
market, would nave proved utterly demoraliz
ing to speculation, for we have the testimony
of the veracious Fisk, that a million of actual
cold is a great deal harder customer for a spec
ulator to handle than ten times the amount m
certified checks.
Xwo Children Burned to Oczatlt*
t\om the CnrV.avt iMa.) Banner, March IT.
It becomes our painful doty to chronicle a
toft sad accident which occurred near Garth*
ace Tbursdav night last. Three brothers by
the name of Copeland, with their families,
were moving with their families from Kansas
to Arkansas. On Thursday night last they
camped near Eahnev’s sawmill, about a mile
north of Carthage, the wife of one of the
Cor-clands hau placed three girU in their cov
ered wagon for the night, leaving a candle
burning. She then went to the tiro to warm
her feet. In less than fifteen minutes a scream
was heard from the wagon: Another wagon
intervened between the fire and herself, and
she had net observed that the bedding had
been set on fire bv the candle. It La not toowu
how the bedding became ignited. The horses
which were bitched to the feed-box at the rear
of the wagon may have jarred the canolo over,
oxtbs children mav have ticked it over m their
Rle-p. At anv rate, the distracted parents
found the ‘bedding in flames, while
the agonizing shrieks of their dear ones
rent the air, and called aD to energetic action.
The mother laid down the babe in her arms,
»,pd both parents struggled through the names
to reach the sufferers in the back part of the
canvassed wagon. A little 5 year old gin had
nwhed to the front of the wagon and escaped
the fatal injury which overcame two other gins,
one 3 years of'age. and the other 9 years old.
Terribly scorched and crisped, these mue inno
cents were rescued from the fiames. and wore
taken to the embrace of fnenda for a short
time. The youngest child died the next morn
ing at 7 o’clock; tEo oldest girl lived on til Fn
dav noon. The surviving gxrij fs gsttmg weu,
although seriously burned. The mother re
ceived painful injuries, while tbo father has
cntirclvJoet the use of his right arm. During
the wax his left hand was so crippled that ft is
almost useless. It is feared that be wiD lose
two or more of his fingers. His hand was so
thoroughly cooked as to be perfectly mseno
ble when probed to considerable depth. The
sufferers were removed to the house of Mr.
Inde, where the two children died- The aa
sena of Carthage did all in their power to re
lieve these unfortunate people. Evctt rag Of
their dothiug. and aD of then* bedding and
furniture was destroyed- A comfortable btn?e
was procured, and this bereaved andslticken
famuy are still with ns, kmdly cared for by
many*sympathetic hearts.
Biihep Thompson.
Re*©lotion* adopted by tho students of Gar
rets Institute on the announcement of
l;i*hcp Thompson's death*.
That we, me students of GKTett BfbU
cal Institute, feel deeply rrteved by the providence
which has *> suddenly called away from ns our be
loved Bishop whose example has in
fplrwitos; tv whose lectures we have been so
larpt iv beneflred; and to whoa we looked with so
much hope for me future.
That we deeply sympathise with the
l-reavcd widow and cßDdtrn—especially with him
who sa«nr feihiw^tudcnt—and pray that they may
be (tMnely supported.
pGthtd, That we reallxe the great Rwa tbe
Ghen t bta sustained, and by divine aid will ceo
sccrateoorstlvcaxnore fully to the ministry, and
strive to foOow his example.
Tbat a copy or these mototfons be sect
to the Chicago paper* for publication.
Ratio Kskktdt, rnainnaa of Committee.
ETA»ftON, March u, l-TO.
MISSISSIPPI
The Condition of the State.
The Necessity for Immigrants,
Dilapidation of Jackson.
Governor Alcorn and Ills Ad-
ministration.
The TL.etcl«laturc.
Irani* opn srxeux. coßßKsrowncfT.i
Jackson, Misa., March su
To tbs mere tourist, travelling in Missis
sippi can scarce bo said to bo attended with
much that ia attractive. One finds himself
verily a stranger in a strange land. To be
ante, one seea the same unmistakable Ameri
can face and boars naught but. bis mother
tongue; but the land is none the less sfrange
for all that. Nor does it seem like the Far
Most,—new, rough, and unpolished, Irat pre
senting the dash, vitality, and youthful vigor
that gives certain promise of a groat ami glo
rious future. Ou the contrary, there ban
antiquated, worn-out appearance about the
people and their surroundings that speaks of a
former age. In travelling by rad, too, one
mteeea sorely the elegant coaches and tho
numerous luxurious appliances for tho comfort
of tho outer and inner man, and, worse than
all, feels an intuitive want of reliance in the
foundation beneath him. To be sure, one must
not expect too much so soon after a long and
terribly devastating war, and there are excep
tions to the general rule. The road from
Memphis to Grenada, for instance, truly
commends itself to the travelling pub
lic. The Superintendent, Sir. A, S. Livermore,
1 has labored with untiring zeal to place his
i road in at least a respectable condition.
As a result, he claims, and probably is entitled,
to the credit of having tho heat road-bed in tho
Htale; one, in fact, upon which travellers can
0 t i». M I feel that tbev are aafe, which a saying
no little for a Mississippi railroad, I assure
upon our Mississippi roads, in the
traveller's acceptation of the term, there is
none. Tho beautiful, thriving towns and vil
lages to which he has been accustomed give
place to small collections of dilapidated ouo
story cottages. The email, well cultivated
farms are transformed into large plantations,
where the datkev. King Cotton, elmtlcewmeas,
and laziness reign supreme, or into immense
stretches of a wild, unbroken waste of prairie
or timber. One loses, in fact, all sense of the
poetic; dnhs Saxe a veritable Munchausen.
*• dosing bis muse with gin,** and at every jolt
thinks tua **riding on a rail” far too appropri
ate in its application. And then to sit in an
old. rickettv car, pitching and tearing like mad,
and Listen to those terrible tales of late South
ern railroad disasters—uyft/ one instinctively
clutches tho back of tho scat iu hia front with
a deathlike grip, shuts bis ey«.-s, and braces
himself for the fatal plunge.
Seriously. however, one is forcibly struck
by tho worn-out, dilapidated look of all that
ho secs. . . .
Even the people themselves, to a largo extent,
{ireeent the appearance of so manv relicts of a
iv-gono age, Gcntlcmanlv, and court cons,
they are, to bo sure, but still decidedly of the
olden school. . . . ,
As to that spirit of enterprise that is to de
velop tho resources of the Stale, and build up
tho broken fortunes of tho war, ono certainly
sees little of it in traveling over tho same. In
a late ride of two hundred miles I do not re
member to have seen a single farm house
either in process of construction or undergoing
repairs. Whv this is so I will not pretend to ,
sav, though, perhaps, to some extent, resulting
from the hitherto unsettled condition of politi
cal affairs. The last ycarls crop, however, was
a good one, and the general testimony seems
to be that there was never more money in tho
countrv tlian now. It would seem, therefore,
that there should be much more improvement
apparent to the eye than is to bo seep loslay.
The one great want of tho State, it is evi
dent at a glance, is small class fanners. Mis
sissippi Is decidedly an agricultural State. She
has neither coals nor minerals. • She baa, how
ever, an immense area of country that, in
point of fertility and general adaptability to
the wants of the enterprising agriculturist, is
hard to excel. „ . , ,
She has millions of »» fine cotton lands as
the world can afford, and as genial a cliroo as
one can well desire. Just at present those in
h-rested in immigration arc basing much hone
ou an influx of Germans. They are Just the
clars of farmers desired upon tho large prai
ries of Mississippi, as also iu the hilly portions
of the State. That their presence is earnestly
sought bv the people I can well bclievo. That
they will'find it a desirable home I have not a
doubt.
TUF. CITT OF JACKSON.
Tliqu"U tho capital of tho State. Jackson, in
the mam, mav be said to present a desolate,
woe-bepono appearance. To bo sure, there is
an air of cozinees and comfort about many of
its cottages, and not a few. indeed, of its man
sions that, surrounded as they are by largo and
beautiful grounds, are really attractive. One
can scarce divest himself, however, of the feel
ing that ho is rather in a staid, orderly, and
somewhat aristocratic village of the olden
school than in a veritable city of to-day. Every
thing is so alow, old-fashioned, antedemnan,
in fact, that one instinctively votes every man
he sees an old fogy at sight. Though there
are two railroads crossing hero, they somehow
seem to impart little or none of that life so
observable in other localities.
So far from presenting an appearance of im
provement, the city, in fact, may bo said to be
rather going backward than forward. There
is a general air of decay painful to behold.
Tbo buildings in the main are old. dilapidated,
and sadlv in need of repairs. I hare not
visited a’citv for years in which there were so
s&anv old rat traps, apparently just on the ©vc
of toppling over, as in Jackson. The business
portion of tbo ciiv was mostly destroyed by
General Sherman,"of whom, as a natural con
sequence, the citizens have a lively remem
brance- It was mostly rebuilt with buildings
of a temporary character that already take on
the appearance of age. But one new build
ing as far as I have Injen able to di-cover, is
in process of erection, which, of a seeming
wonder, is a verv creditable one. in the form of
a brick church. * Town lots seem at a decided
discount, and aro offered cheaper to-day than
in manv of your villages. The State House,
originally a very creditable building, is but in
keeping‘with the rest of the town. Tbo foun
dation from some cause seems to bo giving
war, and the heavy stone work about tho front
entrance is badlv shattered in consequence.
Nor Is the inside much belter, being eadly
dilapidated indeed. It requires an outlay of
follr $30,000 to put it in a respectable shape.
Tho Executive Mansion seems to have
weathered the times much bettor, and, being
now undergoing a complete renovation, pre
sents a very cmlitahle apfiearance. Tito Court
House. City Hall, and other publl* buildings,
need renovating verv much, while tho Pcoi
lenliarv looks as if a good muscular man could
Lick bis war ont. But enough of tliis, lest tho
Jacksonian* aver the troth to bo misrepre
sentation.
iwiTTRNnR ALCORN, ms ADAUNTSTRATION AND
UEmFLATTBE.
In the selection of Governor Alcorn, I
satisfied the Eeimblican party baa made, by
far, the most judicious more of fbe kind as yet
made in the Booth. It is a judicious one too,
in more senses than one. To begin with, ho is
not oolr conceded to l>e of irreproachable, pri
vate character, bat also to be decidedly one of
the ablest men in the State. To one of the
finest legal minds in Mississippi, he adds ibo
firmness and decision of character, blended
ith the moM gentlemanly coortcfiy. that ci
neutly fits him for the position. lie has. more*
over, an inborn sense ol what id right and
proper to be done in the premises, and the
realization of the responsibilities resting upon
Lixn, that neither cajolery, or party intimida
tion, can affect for a moment. While ho will
look to the tme intere-ts of tho Republican
party, therefore he will look to the interests of
IbowJrc* beset him on
his inauguration bo has despatched to their
homes by assuring them that all were incur
ring a needless expense in paying hotel mils ;
that all could react him by fetter with s three
cent stamp, and that he should appoint no
one to a position until ho had thoroughly
weighed all tho candidates, and decided upon
the most fitting man to properly represent the
carte to tho honor and credit of tho State.
To' show that he will be the tool of no mere
partisan cliques, 100, 1 have bat to relate an
incident of a few day* since :
Fctne : Executive Slanaion, 1:30 p. m, Gov
ernor working like a beaver at hi* desk. En
ter Republican County Committee from an in
land county: . _
Chairman Coun/y Committee. ‘‘Governor,
we hare come to recommend candidates for
our county offices.” . , t
■ “Pray be scaled, gentlemen. I
ah.n be moat happy to receive ail the testimo
ny bearing upon the adajitability of the various
candidates in tout county that you have to of
fer. I want to select none but the bent men.
Chfnrmon Committee (considerably taken
abackV " But, Governor, we claim the right to
recommend the candidates for our county.
Governor. “ Exactly, gentlemen- Toa have
exercised that right. lam very clad yon have
done so. I want to hear from all parties m
iCTclairman ('desperately). “Bat, Governor,
we claim the right to select the men to be ap
“ Unfortunately, gentlemen, the
framers of oar constitution did not look upon
it in that light. Tbev evidently sought to con
centrate that power, that somebody might be
accountable for the proper use of the
same. Tbev, in their desire to so secure a
proper degree of accountability for these of
fices. saw fit to place the appointing power in
mv bands. I have accepted the trust so im
posed. i feel the full weight of the respona
bditv incumbent upon me, and in making my
M-lectlonn can defer to yon only in that proper
degree of respect doe to your recommenda
tions.*’
The Governor is laldngtestlmonj yet, as the
appointments remain unfilled.
It is thus seen that the Governor will not
only role with a determined hand, but with an
honest determination to guard well the inter
ests of the State. This is generally recognized
by tbe people. irrespective of party. Indeed,
the old citizens, almost to a man, as far as I
have been able to discover, no matter what
their old party prejudices may be, are prond of
him as a Governor. More than th&, he ts
frith pride by the Old line Whiga as a
fitting rcpreecntative of their party* Scarce
an Old lane Whig in the State but to-day, m
heart atJeast, supports tbe administration.
There ia everr prospect, therefore, that
through Governor Alcorn tins large element of
strength, comprising, a» it does, the real
worth and intelligence of the State, will act m
foR accord with the National Repubßcau party.
That the Governor, in las administration, wiU
labor to that end I have reason to know. Of
corned, there are captious, ultra-radical spirit*
opposed to anv each accession of strength. I
have little fear, however, of their exerdsing a
a hurtful control in this respect.
Jnrt at present tbe Governor Is somewhat
everdaed over various reported outrage* lately
committed bi seme of the northern counties by
pangs of marked moo. Ha does not look upon
theee outrages as having any political tdgnlft-
cance.bntrather as growing out of a spirit of
puro lawlessness which ho ia determined to
suppress. To this end bo is seriously con
templating calling out aßnit&bleforcaof foillUa.
In Fiich case, however. he will pursue an en
tirely different policy from that adopted ia
Arkansas. Ho will, in all \ -f.bahility. adopt
the plan of enrolling a local country militia in
the counties where the outrigrn prevail, en
rolling every man a* cither a member of the
militia or as a bushwhacker, lu this way \m
the people of each couuty resp<>nnil<l>t
for tbo peace of the same, while the evils ~f a
gryral State militia are not experienced by
ie people.
Hie Legislature, one the whole, ia a very
creditable legislative body. Since coming to
gether two members of the House have died,
and one of the Pension (Itcvcls) been elevated
to a place In the United States Senate, thus
leaving three vacancies. The Senate, as it now
stands, con?ista of 29 white and -I colored mem ■
bere, while tbe House numbers <4 whites and
31 colored.
As yet but little legislative business has been
done, save the election of a State Printer, and
tbo paswage- of & resolution reaffirming pre
vious action in tbe election of General Aiqoh t«»
the United Stares Senate, declaring him a citi
zen, in fact, as that is thu gist of the whole
thing in a nut-shell. The election of a State
Printer, as it turns out, proves to have been a
mere farce, and will have to bo enacted over
again. Both Houses passed a resolution to
convene on the 11th Inst., in joint session, for
the election of a State l*rinter. They met on
the 11th inst., as agreed upou, and proceeded
to bold an election, which resulted, after a
bitter fight, in conferring the printing upontho
Jackson Pilot. It now turns out that a consti
tutional provision makes it necessary that all
resolutions of one or both Houses shall be pre
sented to the Governor for his approval, ths
same os any law which may bo passed. To
day, the 21st, tbo resolution was pre
sented to the Governor for bis approval.
The constitutional limit of time having ex
pired, of course the force of the election for
State Printer expires as well. As tins is con
sidered decidedly a fat take, there wQI bo a big
fight again for the spoils.
Several railroad charters arc before tbe
Senate ami lobbyists are in abundance. In the
place of any special charters, the
probabilities are that a general railroad mcor-
Eiration law, framed in the main from the old
w in Illinois and for some time past in force
in Arkansas, will be adopted. For the good of
tbo party it is to 1-e hoped that such will bo
the cose, as the late experience in Alabama and
Louisiana certainly show the necessity of
throttling at once and for all. each and ever;
scheme of special legislation in regard to rail
roads. All of the various disgraceful omnibus
bflla forced through those Legislatures, bad
their origin in rings Packed for the obtaining
of special railroad charters, and which s gen
eral incorporation law would have prevented,
at least, if as tbs caso here, a constitutional
provision shot out all chance of a loan of Ststo
credit. Reso.
SHOCKDTG BATLEOAD ACCIDENT.
Three .Hen Horribly C'nisheil-Two
Since Died.
Frrrrn. the Quinejf (fIL) Whi-r, Sfarrh 24.
One of the most shocking and distressing
railroad accidents that we hare ever Lad occa
sion to chronicle occurred yesterday afternoon,
a short distance north of the freight depot of
the C. B. A Q. Railroad In this city, by which
three men were horribly mangled and crushed.
The circumstances attending this unfortunate
occurrence are-thus briefly told:
The regular freight train N'o. 21, to which a
caboose car was attached, due In this city at
4:30 p. m.. stopped as usual at the upper switch
to await the signal for entering the yard. Tbo
conductor of train stepped out the back
door of the caboose car to turn down the break,
when be saw an engine and tire care rapidly
approaching. He had only time to jump from
the platform when the engine struck the rear
of the caboose car and forced it forward upon
a flat car. loaded with railroad iron. It an
happened that three men. Moritz Crouse, of
this city. Elisha Hendricks, of Columbus, and
Jas. Wheeler, of Boshnell. were standing on
the forward platform of the caboose car when
the colli>ion occurred. Quicker than thought
this platform was doubled under, and its pro
cions freight jammed in between the protrud
ing ends of r&iiroad iron and the body of the
catiooso car. Wools fail ns to describe the
scene that wjs here presented. These three
men were so crushed and fastened in by the
iron that it was impossible to extricate
them until a large portion of it was un
loaded from thq cars, and while this wad
being done the unfortunate men suffered
all the untold agonies which crushed muscle,
sinew, bone, and nerve is capable of enduring
—they cried for help, and begged in God’s
name*that some one might take pity upon them
and end their misery by shooting them dead.
At length tho rads were removed, and they
were drawn out, one by one. only tu suffer
more keenly as tho exposed nerves came in
contact with the air.
Moritz Crouse I tad his left leg. from about
six inches above tho ankle to the tip of his
toes, crushed into a jelly, bone, muscle, and
nerve; while his right foot and ankle was flat
tened out and intermixed with his sock till it
more resembled shreds of woollen matted with
blood than human flesh. Mr. Crouse was at
once removed to his residence on Fourth
street, between York and Kentucky, and tho
best surgical skill in the city called to lus as
sistance. At tho hour of writing. 11 o’clock,
ho was in a collapse state, and had onlv once
partially rallied from tho shock. He will hard
ly recover.
Elisha Hendricks had his left leg crashed off
at the knee, and his right one was mashed just
al>ove the ankle, and barely bung by shreds of
skin and muscle. Mr. Hendricks was taken to
the Sherman House, where ho now lies at tho
point of death. The physicians and surgeons
who attend him pronounce his case hopeless.
Mr. Hendricks was formerly a farmer near
libertv. but now resides in Columbus; ho is a
man about 52 years pf age. and has a wife and
six children. ‘
Joseph Wheeler received the most dangerous
and fatal wounds, as well as the most horriblo
to look upon. The iron pierced both bis
thighs about half wav between his knees and
hips, and ground the flesh, bone and tlssuea to
fowclcr, severing one of hia limbs completely
rom hia body, and mangling the other ho tor
ril.lv that it was with difficulty prevented from
falling to piece* while moving liim. Mr.
Wheeler was also taken to the Sherman House,
but survived the accident only a fewhoors, and
died before any reaction set in. Hu leaves a
wife and four children at Buehoell, HI., to
mourn his untimely death.
The cause of the accident is easily explained.
We havealreadv stated why train No. 21 stopped
at tho switch: it now .remains to be told now
, that train happened to be ran into; It appears
that an extra train.' loaded with coal, was
closely following train No. 21; the extra, con
sisting of aomo twenty-five care, when near
Twelfth street bridge, broke a coupling between
the fifth and sixth car from tho engine; hut
the engineer did not know the train waa divided
until no neared “Sand Cut,” some three
fourths of a mDe from the bridge when,
whistling “ down brakes," and finding hw speed
was not lessened, he 1 looked around and dis
covered that he bad only five cars and no
brakesman or conductor. At the bubo
moment he also saw that tho train ahead
of him had stopped. Ko at once un
dertook to reverse tu* machine, but in so doing
burst the steam cheat and the locomotive was
rendered powerless. He then rushed to tho
brake on the tender, while the fireman crawled
over to the first car to lorn down the brake*
there, but before anything could be done to
lessen their speed the dreadful accident had
occurred. To understand how the tram could
be broken in two and the engineer not discover
it sooner,it mustlbsrememl'ered that the grade
is quite heavy and the trains run in for several
mile* without the assistance of the locomotive,
and from Twelfth street down, owing to tho
many cumw.the engineer's attention is mostly
directed ahead to see that tho curves are clear.
From all tre can Icam, no blame can be at
tached to any of the employes of tho road.
Lams.—At 1 o'clock tllis morning Moritz
Crouse breathed his last. It is thought Hen
dricks will die before daylight
Railroad v*
Tho tVenona (HI.) Index, of the 24th, s*tb
“On VTednevdav of last wsek, tho Chicago,
Alton A St. Lome Railroad Companv took for
mal possession of the road now built from
Wenona to Dwight; and the Fox River Rail
road Company, or rather the Vermillion Coal
Company, reared in good order. Mr. McMul
len, Superintendent of the former road, to
gether with the heads of tho various depart
ments. came over on the first train, to ascer
tain what is needed at this station. As tUa
route through Wcnona has not yet bocn decid
ed ujon, nothing hnt temporal? arrangoxsenta
can he entered upon at present. A time table
bae been adopted, which is altogether favor
able for Chicago traveDers,”
There was a large meeting at Green Bay,
Wls., on Monday last. The following resolu
tions were adopted: •
“Wokkias, it cannot be denied that the con
struction of a railway to the southeast, extending
to Milwaukee, will give an impetus to all oar local
enterprises, and especially to the railway running
westward!* to tn** Mississippi: therefore,
**ll/totctii, That, as the sense of this meeting-,
the people of Brown County arc overwhelmingly
in favor of a railway from Often Bay, via Depere,
and thenre southeasterly to Manitowoc, and
thence to Milwaukee.
“ib»ofr«f. That, provided such road ta located as
above, we do not hesitate to assert that the county
win cbctrfohy vote the sum of iiw.ooo upon the
conditions suMnUtedT*
The foCowlcs i.« & list of railroad companies
ompanlcs cbanere-J In Wisconsin daring thw past
wujt*rt Nsuiison 4 Portaae Railroad; Baraboo
Air Line Railroad; Sugar River Valley Railroad
act revived and amended); Green fear <fc New
London; Milwaukee 4 Northern; Lone Hock,
Richland Centre A Pine River Valley: Madfaoo,
Monroe A State Line; Milwaukee a Rockford;
Portage, Steven* Point 4 Superior; Berlin, Wey
anwesr* 4 Lake Superior; Ponmre, Friendship,
Grand Rapids 4 Stevens Point: Union, Trempo
leau Valley, Black PJvcr Falla 4 Neilerlile; Brana
rUle 4 Buie .line; Went B*rrt: Prescott, River
Falls 4 Eastern: Chippewa Valiev 4 Lake Supe
rior: Janesnoe 4 Evansvllie; Wisconsin North
ern: Superior 4 St. Croix. The Janesville OazrTte
gays that, “Taking Into accocct the lines already
constructed, we estimate tnat there arc now char
tered not les than thim-Eve hundred miles of
railroad lo Wisconsin."
The Eastrs. the West*
“There is a concern in Chicago," aaja Hor
ace Grteley, “ which disgrace the name of
Triune." * To which the Chicago “ concern "
replies t “ How about the concern in New York,
whose employes, every few months, are hoist
ed into notonetv for trading is other people’s
property ?" Tie allusion of Tne CstcAoo
Tutbuwe was to Tandon, Olcott and Svpher,
all accused of selling cadetships, and each
employed in some capacity on the New York
Tr&uor. But this was only the pretext for
Xm Chicago Hubcxs's retort. The true
cause of radical difference between the two
Tribute* lies much deeper. First, Chicago is
rapidly becoming tbs rival of New York.
When' it secures its wish becomes an
original port of entry, Chicago wJU become
at once the second importing oty of the coun
try, When it escores the Niagara ship canal,
rae and deep enough for veeaelaof I,sootons,
and a similar enlargement of tbs
Dlinoia River Canal, Chicago may become the
first importer. These points it is likely to
gain after the next Congressional apportion
ment. The Lake City is aspiring and its enter
prise boundless. It is the greatest railway
centre in the world; and, as with Rome in the
days of Hadrian. “ all roads now lead to
Chicago.” Second, the West, which Chicago
aims to and doee represent truthfully, in hoc
ambition, for dominion and development, has
crown pick of protective tariffs, while the New
Verb Tribune U the chief of the men of that
policy who represent New England and Penn
sylvania. Tfce war ha* bat fairly begun. It is
for nothing less than the control of the com
mercial poucy of the United States. It is New
England and Pennsylvania against the great
West: and the signs are agaiaßtGsnemGrea
. ley’s cbaccta of vuAoy.—fiocromento Utwhk