Newspaper Page Text
. ;i I . ' U. , . Vi i l , . 1 1 1 Ui.iu jut. ;i i I , . tM.. !. t-i i i .
m. mm T IPmiiADELPinA, TUESDAY, DECEMBER 3, 1BG7. YOL. VIII-No 132. (( DCjUBLE SIIEET TIIREB CENTS. :; SECOND EDITION FINANCIAL BUDGET. Abstract of Secretary McCal' loch's Report. Improvement in the Economical Condition of the Country Restoration of the Specie Standard How it May be Achieved' The Question of Contraction. JTniliiro of iv IIIjjli TnrifT. Etc. Eto. Ktii Et., Etc., Ete, Owing to the great length of the other Execu tlTe documents which we publish this after, noon, we are able to give only an abstract of Secretary McCul loch's report. In It will be found, however, the most material portions. Tbeasuby Dbpartmhnt. Washington, Nov. 30, 1807. In conformity wltb law, tbe Secretary of the Treasury baa tbe honor to submit to Congress this, bis regular annual report. The finances of tbe United Stales, notwithstanding the continued depreciation of the currency, are In a much more satisfactory eondi Uon than they were wben the Secretary had tbe honor to make to Congress his last annual report. Since the st day of November. 1866, 1403,69968 of Interest bear ing notes, certificates of Indebtedness and of temporary loans, have been paid or converted Into bonds, and the public debt, deducting therefrom cash In the Treasury, which is to be applied to Its payment, hasrbeen reduced $58,800,568. During tbe same period a decided Im provement has also been witnessed In the general economical condition of the country. The policy of contracting the currency, although not enforced to that extent authorized by law, has prevented an ex pansion of ciedits to which a redundant and espe cially a depreciated currency is always an Incentive, and has bad no little Influence In stimulating labor and Increasing production. Industry bas been steadily returning to the healthy channels from which It was diverted during the war, and although Incomes have been small and trade generally in active. In no other commercial couutry has there been less financial embarrassment than In the United States. Since tbe 1st day of September, 1865, the temporary loans, certificates ot loUebteduees, and five per cent, notes have all been paid, with tbe exception of sma l amounts. Tbe compound interest have oeen reduced Iroin 1217,024.169 to J71.878.WO, $11,560,000 having been taken up with the three per cent, certificates; seven and three-tenths notes from f8&,ooo.ouo to .i.!7,9?8,8oo; United States notes, including fractional currency, from 469,5iH,ll to f 1:17,871,47; while tbe cash In tba treasury n as ueeu iu-cmvu uuiu 9oo,is,uoo vo ijj, W8,88: ana the funded debt has been Increased ft 88,(4)4,81.0. While this bas been accomplished there bas been no commercial crisis, and outside the South ern States, which are still greatly suffering from tbe effects of the war, there bas been no considerable financial embarrassment. In his last report tbe Secretary remarked that, after a careiul survey of the whole field, be wai of opinion that space payments might be resumed, and output to be resumed, as early s the first day of July, 1864. while he Indulged the hoi e that such would be the character of future legislation, and such the condi tion ot our productive industry, that this molt deeirablf event might be brought about at a still earlier day. These anticipations of tbe Secretary may not be fully realized. The grain crops of 166 were barely no the ent for bomecotsumolioo. Tbe expenses of the War Department, by reason ot Indian hostili ties aud tbe establishment of military governments to the Southern states, have greatly exceeded the estimates. The Government bas been deirauded of a large part of Its revenue upon distilled liquors, and tbe condition of the South bas been disturbed and unsatisfactory. These facts and apprehension) created In Europe, and to some extent at home, by tbe utterances ot home of our puollo men upon the subject of finance aud taxation, tbt public faith mUbt not be maintained, may postpone the lime when specie paymeuts shall be resumed: but, notwithstand ing ibeve unexpected embarrassments, muoh pre liminary work bas been done, and there Is not, lu the Opinion of tbe Secretary, any insuperable difficulty In the way ot an early and permanent restoration of specie standard, It may not be safe to fix toe exact time: but with favorable crops next year, and with no legislation nn'avorable to contraction at .his session. It ought not to be delayed beyond tbe firjt of January, or at tbe farthermost the brat of July, 181, Not bine will be gained, however, by a forced remimp tion. Wben tbe country Is In a condition to maintain specie payments they will be restored as a necessary conreuuence. To such a condition ot national pros perity as will Insure a prominent restoration of tarn peclestandard toe following measure. In tbe opinion Of the Secretary, Important.!! not Indispensable: first Tbe funding or paying of tbe balance of the Interest-bearing notes, and the continued contraction of the paper currency. . , Second. The maintenance of the public faith In retard to tbe funded debt. Third. Kestorattou of tbe Southern States to their proper relations to the Federal U.vernment. tain tbe present conultlou of the country, aud In view of the relat.ous that the national 4anks sustain la the Government, Ignoring, lu this eouaectlon. the ques tion of good tai.b, the Secretary has nj dltliculty In ecnilug to the con lusiou that they should be sus tained. T hey are so Interwoven with all branches of business, and are so directly oonnented with the credit Of the Government that they could not be destroyed wl'liout precipitating upon the conn'rv Ooauchil troubles which It is now lu no condition to meet. A t some more propitious period, when the Union shall lisve been fully restored, and all the States shall have at'ained that substantial prosperity which their great resources and the enorgy of their people must sooner or later secure lor them, It may perhaps be wise for Congress to consider whether the national banking system may not be dispensed with. Tbe present Is Dot a fav arable time to consider this question. The condition of our political and financial affairs Is loo critical to jusiiiy any action that would com pel the national banks, or any considerable number of them, to call In their loans, and put their bonds upon the market for tbe purpose of providing means ot retiring their circulation. Conservative legislation Is now in dispensable Tue public ml'id Is too sensitive, business Is loo unsteady, aud the political future is loo un certain to warrantny financial experiments. For tunately none are required. The natiouul banking system bas furnished a circulation, depreciated, it Is tme like Dolled Slates notes, but solvent beyond question, and current throughout tbe Union. It bas ued in regulating domestic exchanges, and fur n shtd Ouv, rnment with valuable financial ageuie. I lad It not been adopted the elate banks would fiave continued as long as they were tolerated, to furbish the country with bank notes. In most m.4 ,,- uifl.M hanks were not reoulred to denwit Mocks for the security of their notes, and In those b a us where security was required there was uo limit to the amount of bonds that, muht be deposited, and consequently no limit to amount of notes that might be put in circulation. In other States there was no s curity oeyouu me capita. u.uianuj.ir fiiiumlv Ll,e unreal and i.arllal liability ot stockhold ers, (lei. emllv (Incentive, wild can esliuine the ex- twi.l of lujury which the people and Ooverouie.it would have sustained if Stale institutions, without any olher restrictions than were enforced by Slate laws. l.uU been permuted Ourini-' me war to occupy the field. All tiavimi su .neude.l suecie paymeuts. and iberel.y been relieved Iroiu the necessity ol tur nish'ng evldeuca of solvency, hauks uowlsely or dis honestly manure 1 would huvo stood en a level with those which were mink nil wiselv and honestly, while the la'ter would have found It dillicu t to keep their Usues wltn u reasonable limits, stimulated, as iu.y would hav beou, to lsue freely .v the nen. sallies of the creasing demand for money, which m Wiyt the resultot an Increased supply. The former wou'd have poured out tne irredeemable promises until distrust created panic and paulo dlsnsirr, Thai the natioual system, with Usl uilted and secured circulation and i ... -I.. rituii t.rOVislOUS. bV BllSOhlld.t.v ,1. systems, has prevented a financial cilsia there oau be t,t In Lie douhl For this it Is eutllled to credit, and lor tills and for other ressoos euiri;.-aid it atiould he ..u.m...,1 unill abetter systems-bail be rtevisd...r n, country Is iu a condition todlapeuae with baua taauus . J .. In favor of enamelling "the banks to retire their notes and yield tna held to thn notes ot Ihelioverumeotarehuseo u.u uiiitn tuat I three hundred millions V utled Stales aoles were suhellinted for three buudred millions of national bank nvlvs how la circulation the Uvvoiawent wvuld save some eighteen n..".llon dnllnrs Interest whlf-h Is now a gratuity lo lb banks. That there would be no such saving, noi ny saving, by the proposed substitution, Is clearly shown ny tbe Comptroller or the ( urrency lu bls acccompanylng report, to which tbe attention of Congress t eepec.ally asked. Iran account were opened with the banks, and tbey were charted lLtevest on three hundred mil lions or dollars, aud the losses sustained ttirouira thusethat have failed and cr dlled with Intereri on tbe Uolted states notes held by them as a pema nent reserve, with taxes paid by them to the Gov ernment and Stales, and with a commission cover. Inn only what bas been saved In transferring and disbursing the public money. It would be ascertained that the banks were not debtors to the United states. It Is not necessary, however, for the Secretary . o dwell on this point, as his main objection to tbe sub stitution would not be removed I'asavlug of Interest would b- ell'ecied by lu Kegardmg, as ue does, the Issue of United Htotes notes In the first Instance as having been a misfortune, and their continuance as a circulating medium, unlets tbe volume shall be steadily red need, as fraught with mischief, t e Secre tary can conceive no clrcums'ancee that would Jnatlfy a further Issue, These depreciated but legal-tender notes, notw ibstandlog the redurti n tbnt bas taken place, still stand in the way of a return to specie payments. A substitution 01 them for bank notes would be regarded by him and by "be country asa declaration that resumption had been Indefinitely postponed. If those now on stand ing shall be retired at the rate ot four ailllions per UKintb, tbe amount In actual circulation will soon be reduced so that they may not seriously retard the rtsioratlon to a tme measure value. If, on the cootrary, under any pretense or for any pur pose whatever, their value should be Increased, especially if they should be made the sole paper circulation of the country, a false measure of value will be continued, speculation will be stimulated, in dustry will decline, aud great risk be Incurred. That fiuanclal health will b easily obtained by a revul sion, the effect of which upon the material Interests and credit of Ibe couutry uo one can estimate, Sucu a revulsion the Secretary Is most anxious to prevent, and he, therefore, cannot approve of the proposition for substituting notes ol the United stales for national bank botes, but recommends that the policy of cou. traction be continued. Apiiehtnnion that this policy will embarrass healthy trade is, In his judgment, unfounded. Legiti mate business bas not suffered by the curtailment w hich bas taken place within the last two years, nor will It permanently suffer by such a contraction pru dently enlorctd, as may be necessary to bring the pre cious metals again Into circulation. Wnat business requires is a stuulecurrency: wbalenterorlsedemandi Is the assurance that It shall not be balked ot its just rewards by an unreliable meaiure ot value. It Is frequently nrged by those who admit that tbe Currency Is redundant, that the country is not now in a condition lo bear further contraction; that Its growth will soon render contraction unnecessary; that business, If 1 ft to Itself, will rapidly Increase to such an extent as to require three buudred and eighty millions of United states notes and fractional currency, and three buudred millions of hank notes now outstanding, for Its proper and needful accom modation. Nothing can be more fallacious than this uoiiirluuately popular Idea. An Irredeemable cur rency Is a financial disease which retards growth In stead ol encouraging It; which stimulates specula tion, but diminishes labor. A healtuy growtu is to be secured by a removal of disease, and not by post poning the pcoper treatment of it in the expectation that tbe vigorous constitution of the patieut will eventually overcomeit. The next subject lo be considered, In connection with the permanent resumption of specie payment. Is the maintenance of public faith, which Involves the necessity ot wise and aiaele revenue laws, lmi ariially and rlvoroi'Sly eniorced. Kconomy In thepublloex pennltuies, aud a recognition of tbe obligation of Government to pay lie bunds in accordance with the understanding under which tbey were Issued. Tue remarks ot tbe Secretary In tbla report upon tbe subject ol public revenue must necessarily be brief ano general. Fortunately, the accompanying report of the t ommissloner ot tbe .Revenue Is so full and exhaustive as to render any elaborate discussion of this great subject on bis part nn necessary. Taxaiion, tbe power to lax, Is one or tbe most Important powers exercised by a Governmeut To tax wisely, so as to raise large revenues without oppressing in dustry, Is one of the most dllUcult dutlf sever devolved upon tne law-making power. Taxation can never be otherwise than burdensome, and It becomes espe cially so wben subject to frequent changes: It Is, therefore, ct great Importance that the Revenue laws should be stable. - By this It Is not meant that they should be.uochangable, but that while from lime to time they may be modified lo meet the changing condition oi me country, tue principles upon wuicu I hey are based should be so wise and Just at to give them permanency of character. Perhaps as much mischief has resulted from the frequent changes in the tariff laws ot the United states ma from their defects. From the time wben tbe first tariff was named, In 1789, up to ibe last session or Congress, tbe tariff has been a fruitful subject of discussion, and at noperloo has the policy of government in regard to customs duties been considered as detlnitely settled. T here bas been a constant struggle Detween tne advo cates aud opponents of protection and free trade, as cender cy generally being with the protectionists. Tne tariUB ot imu, isi4, ihzs ibiz, ana isei, were an or a h.nl.1. .1 ..... iwl .1 nl.aruKllir 'I' li Au .1 (if I U'J't u . I U 1 .! reduced duties larselv and looked In the direction of free trade. So evenly, however, bave parties been divided, inataiinougn protective taws navegenerauy been lu force, at no pe'lod from 179 to tbe present dav have importers and manufacturers had auv rea sonable assurances tbat the existing tariff laws might ant be suddenly ana materially altered, rnst tue effect ot these changes, actual and apprenended, has been highly Injurious to the country, cannot be ques tioned. Tbat It bas not been disastrous Indicates tbe readiness of the people of the United States to adapt their business to policy of the Government, what ever It may be. Frtquent changes of the tariff lavs are attributable to the fact tbat In none of them has reveuue been tbe principal object. 1 here baa never been in tbe United States a strictly revenue tariff. and consequently there bas been no stability In the tarirx laws, up to iui me revenue from customs under any scale of duties adapted were sufficient to defray the expenses of the Government, and there lore tbe question now so lntereslsng was hardly a prominent one. Iu the present financial condition of the country large revenues are ludlspensable.aud in adjusting the present tariff the question of revenue must necessa rily be a question or paramount Importance. Wnen the Government was substantially free from debt, and tbe public expenditures were small, as was the case belore the Rebellion, a revenue tariff, properly adjusted to tbe publlo necessities, would bave been a low tarin; out now, wnen a neavy ueot ana libe ral expenditures create a necessity for large revenues, a considerable portion of which must for some years to come be derived from customs, ft is difficult to perceive bow, without excessive Importa tions, a Binctiy revenue tarin can tan to oe a utgu one. It may thus turn out tbst the necessities of govern ment may give Incidentally to American manufac turers the production tbey are supposed to reoulre. without special legislation, always odious aud gene rally unre.iMu.e, jn fcueir uenaii. Inasmuch as larire ana permanent revenues cannot be realized uniess tbe laws are so framed as not u bear heavily upon Industrial pursuits, a tariff which, harmonizing wtih the Internal taxes, shou.d year by year yield the largest revenue!, would undoubtedly prove to oe toe least, prei'iuicial to tue national f rowth and prosperity. A nigh tariff, by reducing miMirlatloLS. or by oppressing important branches of trade and Industry which are subject to Internal duties, might prove to be as unfavorable to revenue as a low oue. and equally unsulied to the public ne cessities, i ne present iarm, aitnougn a nigh one. bas not proved to be protective, while for the past two years It has been highly pro ductive or revenue; but Its tuilure to protect those lu terests toe whose benefit It was In a great measure framed, aud tbe laige revenues whlchbave been de rived from It, do not prove tl to be In any Just sense a reveuue tariff. It bas (ailed to give to American nisntilHclures tbe protectlou It was intended to atford, and It bos yielded much larger revenues than were anticipated, because the high prices prevulllug lu the United Slates have stimulated Importations. It does not follow because It Is producing a large revenue now that It will continue lo do so when business and the currency shall be restored to a healthy oondillon. The time will soon come when the Uolted States will cease lo be the most favorable country to sell In, and when It must pay lor what it purchases, not lu Its bouds, but in its own productions. In order thai the present tariff should be a revenue tariff, important modifications will be necessary, which osuuol oe Intelligently made until business ceases lo be subject to derangement by an irredeeina ahle currency. The Secretary does nut, the eiore, recommend a complete revision of the tariff at the present session; but there a-e some features of it. aud Home matters connected with it, which require early attention. The experience of the department discloses many alsadvauiaves aiteadaut upon the collection or du'los on Imports w beu the tales are high, aud eatlmatu i on an ad valorem basis. For tbe collection ol such duties machinery more or less complicated It ueues sary for verification abroad or inm.i,.,.. ..r i..,....,, 11. ,iis. and for examination and appraisement of me' rliandiseon I's arrival In tins coun rv. In every Instance, a nnmparlsnn is required between the In vol e estimate auu tue aeuerai vaiue in the pilnuipal mar kets of the country to wulch a com luv . Ported. The dllliculty of ascei ta'nii.a- iha nr,.i ,,, market value, especially Id caNes where a commodity Is nianulBCtured expressly for transportation, alljrd Inif temntine opportunities lor successful under valu ation aud hiiih ra'es of duty, ntler Inducements for evasion more than conmieusurate with the risk of detection. Since the pasaugeoi tue iarm actor Maroh 1. IhOi. Hi rates of duty, which were exclusively ad Valorem, have on many articles beea speo lie. t he kiktem fif specific duties appears to have niveu much satisfaction to honorable dealers aud to officers of ' customs ' for the ease with which the character and quantity- of 1 nierchondle Im ported can be determined, lor the uniformity a in, ui.ti-ii . duties niav be as ums. d at dlflrrents sorts, and particularly as It preel ides ibe IHHislbliiiy ol fraudulent undervaluation-. Without recnruuiending an exclusive adoption ot the specific Sullen, tbe Secretary would suggest for the considera tion of CoriNresa whether the system might not wltti Prt trleU- he axtendml to all commodities oa which the dutv ftMfira a luru. M.iftiMrli.m Uk value, nr at Wlklltil Jnrelao market price Is auhjtcl to great fluctuations, J) M Ixotu other cause ltlth dfttloulty asourtalusd. OmMrttl in Tfitra JStWron. CHARLES DICKENS, j U1S FIRST READING IN AMERICA. Boston, Peo. 2. Ever since It wan announced that Mr. Dickens would give bis first Reading on this side of tbeAtlaullo in Boston, the lu baOHauU of our quaint, old-faehloned sister city bave been In a slate of feverlHh excitement. Mo sooner was the news fins bed alonit the oaole that be was coming, tbat everything was lm mediately put In apple-pie order. Toe streets were all swept from one end of the city to the other, for the eeooud time in the twenty-four hours; the State Houseand theold South Cuurcu were painted, ofl'band, a delicate rose pink; a new statue of Edward Everett was put up In tne Publlo Uurden, In tue altitude of throwing op bis bat and tstioutlng "Hurrah !" every booksel ler's window was stacked up with copies of 1'lck nor Field's new edition of "Dickens," to the temporary displacement of Longfellow's Dante" and Dr. Holmes' "Guardian Angil;" the cigar-shops came out as one man with their brands all new-ohrletened, and nothlag Is smoked, chewed, or taken lu snufT to-day hut "Little Nell Cigars," Mr. Houeers' Fine Cut, tbe Mantlllnl Plug, and the ''Uenutne Pickwick Bnull;" while at every turn. In the Illustrated newspapers, In the hotel olllces, and in all tne shop windows, the new portrait of Mr, Dickens Is to be seen, showing us a man somewhat past middle life, with thin gr ey halr.a scanty beard, and eyes downcast reading on a book; a striking contrast to the boyish face of twenty-live years ago, with Its large eyes full of wouder and sen sitive feeling, lis delicate, almost girlish con tour, and iu long locks of dark, abundant hair. The younger portrait was, porhaps, a little flattered; but the older one Is as good as a quiet, lmpacslve picture of a face full of life and ex pression, and rarely at rest, can be. We had the pleasure of meeting Mr. Dickens at dinner a few days ago, and, of course, It was not dllUcult to recognize him, even though seeing him for the first time; buttbls portrait would, we think, have helped us but little. All we can say Is, to these who wish to know beforehand bow so famous a man will look when tbey see him, Is tbat this portrait prepares the mind to recog nize him, but tbat Is all its ollloe. Ic shows at all tbat time, and labor, and care have done, to batter do.vn tbe beautiful house of youth and haunting fancy, but it gives no gleam of the radiant spirit that still lights up the en chanter's face. Meanwhile, until to-night, Mr. Dickens has kept himself strictly secluded frem all but one or two old and intimate friends. His rooms are at the Parker House, and there he has re mained, busily engaged all day, In writing and study, except wheu he Is taking bis dally eight mile "constitutional" walk with his publisher, Fields, and steadily declining all the Invita tions to breakfast, dinner, tea, supper, parties, bails, and drives that hospitable Boston pours In upon him In an unfailing stream. Muoh of his time is spent in the most laborious pains taking study of the parts he is to read. Indeed, the publlo has but Utile idea of the cost in downright hard work of mind, and body, and voice at which these readings are produced. Although Mr. Dickens has road, now, nearly five hundred times, I am assured, on the best authority, that he never attempts a new part In publlo until he has spent at least two months Id study over it as lallhful and search ing as Kachel or Cushman would give to a new character, inis stuuy extenas not merely to the analysis of the text, to the discrimination of character, to the minutest points of elocu tion; but decides upon the facial expression, the tone of tbe voice, the gesture, the attitude, and even the material surroundings of the actor, for. Actino it it. not Heading, in the ordinary sense, at ail. Mr. Dickens is so essentially an artist that be cannot neglect the slightest thing tbat may serve to heighten the effect of what, he has undertaken to do. And be Is as conscientious, so strict in all bis dealings a very martinet in business and thorough man of affairs that he will leave nothing undone, that time and labor can do, to give to the public that pays so much for tbe pleasure of hearing him, the full worth of lu money. This is the reason wby be, a man of tbe world, greatly delighting in society, thoroughly fitted to enjoy It himself, and to make omers enjoy n ueuoeraieiy cuui himself OUT from It, until his task shall be done. "1 am eome nere, ne says, -to read. The people expect me to do my best, and how can I do it if I am all tbe time on the go? My time is not my own, wben I am preparing to read, any more than it is wben 1 am writing a novel, and I can as well do one as the other wituout concentrating all my powers on It until It is done." Wnoever, then, fancies that the crowd that packed tbe Trexnont Temple to-night, that the crowd which, after tbe splendid success of this first reading, will oontlnue to pack It till the read ings are an over nave given tneir money ior a bavalelle. an hour's careless play of genius whoever thinks Ibis, is quite mistaken. This wonderful two-hours performance so iuu or ... I . . . 1 . k.lnfllll ft Ant , . ,1 VHUCU JlUffVli U11U11U11, w VUU. of feeling, pathos, mirth, and fun, a sunlit shower of smiles and tears, not to be described in words, hardly to be comprehended by the mind; all this if it be not the pure result of un remitting study, and thought, and physical labor, would, at least, not bave been the perfect thing it is, without these helps. Aitnougn tne ticaeu ior tne roauines carry twice repeated on their face the request that "the audience would all be seated punctually at 8 o'clock." it was nearly 815 before the vast crowd had simmered down to a state or com parative qulzsoence And it was indeed a vast audience such a crowd as is seldom gathered Jn a single hall to meet any single man. The line of carriages ran oown an manner oi streets and lost Itself in tbe suburbs. All the cars leading from the outlying towns brought in fresh recruits to the great army, and the snow that had been falling all the afternoon at last gave up trying to get to the pavement, and went to some other place, while the moon shone out and helped tbe gas-lamps light the gay, struggling, swarming multitude that was try ing to get inside the doors watched by a long faced, silent multitude that crowded round the door-ways without tickets and no hope of get ting in at all. Inside the bouse tbe scene was striking enough. Few cilles, anywhere, could show an audience of such character. Hardly a notable man in Boston, or fifty miles about, but was there, and we doubt if in London Itself Mr. Dickens ever read Deiore sucu an assem blage. There sat Longfellow, looking like the very spirit of Christmas, with his ruddy cheeks and bright sort eyes looking out from the vest of snow-white hair and snow-white beard. There was Holmes, looking crisp and fine like a tight little grape-skin full of wit instead of wine. There was Lowell, as If Sidney himself bad come back with-his poet's heart smiling sadly through his poet's eyes. Here too was the elder Dana, now an old man of eighty, with long grey balr falling round a faoe bright wltb shrewd intelligence, as able now as thirty years ago to write "Paul Felton; or, tbe Bucca neer." Running the eye over the hall, oue saw other men widely known, Charles IJI lot Norton, whose translation of Dante's "Vita JN'uova" may well staud side by side with his master Longfellow ol the grander song. There in the gallery is Edwin Whipple. Y-onder is Fields, to whom all owe this great pleasure, for he suggested, urged, and made this visit of Dickeus easy to blm. Bishop Eitstburn, over on the olher side, seems thankful that clergy men bave yet some pleasures left. There Is I'ooie, the Librarian of the Athenteum, oue of our men who knows most about books, and Samuel Eliot, the President of the Hooial Science, and Ueorce Green, who recently crossed blades with Bancroft. Erauinou's faoe I could not catch. Concord is fur away, and snow storms no Joke to travel in. Nor did WhlUler come as was promised Whlttler, who has never in his life been presuut at an evening entertainment of any description, concert or even, strange to say, a lecture. He promised, but at the last his heart fulled blm; and the "good grey bead that all men know" did not bless our eyes lo-nlght, . 1 have said that Dickens Is an artist In all ha does, anal seldom have I seen a more finished piece of work than this whole reading. Ho careful is he of every point, that nothing shall go amiss, tbat he bus brought with him from Ecglaid all the appoinlinenU by which fie is - surrounded wheu be reads , at borne. At the hack of the platform Is stretched a long kcrn covered with dark red ?'ot,'f d least It looked by gaslight, though Helda to d nie it was purple-and lu irJut of it stands a table wltn square legs covered with rich crimson velvet th top, aloo, covered with tbe same, bunging over the, eda, and bordered 1 with a heavy fringe. At oue bide of this tabl projeeu a little shelf, also eoverod with velvet. n whjeh. wtea. waiw-bvtuB &u4 gUt, lit the left band corner Is a square block about eight inches high that also covered, top and eides,!wlth velvet, like the rest. On this block the reader rests his book, and usee it, besldeM, ns an accessory lu bis byplay. Now it is Boo Cratchlte's desk lu Scrooge's office. Now It IS Mr. Flzzlwlg's desk, from which he looks be nlgnanlly down on his apprentices. Now It IS thedesk on which rests the Christmas goos-j of the Crntcblte family. A very useful little velvet box Mr. Dickens makes It, 1 assure you, and the audience gets lo look upou it as quite a delightful piece of furniture. Mr. Dickens Is not qutieas rigid In his punc tuality as dear Funny Keinhle used to be, who began like a beautiful fte, tbe minute the clock struck 8, no matter whether people had come or not, and treated the lag. gards to bewitching frowns, as tbey crept, be-, lated, up the Isles. But at last he comes 1 He enters, holding tbe book In both bands, aome op tbe steps wltb a quick, springing walk, and, standing at his velvet desk, proceeds to work, like a man of business. He is dressed with perfect neatness and simplicity, but a trace of the old foppery the aulumu's flower of all the youthful dandyism is seen in bis buttonhole. In tbe shape of a white carnation, and apluk rosebud on bis shirt front. There Is nothing more pretending than a plain gold st ud. He has, to be sure, considerable wa oh-ohatn, and on his finger a diamond ring, but nothing Is noticeable In bis dress. He stands there a quiet gentleman, rluin Charles Dickens; and that name is grace and ornament enough. For a Boston audience, his reception la re markably enthusiastic beldom does the polished ice of this proper community crack as loudly and as cheerily, under the thawing beams ol any intellectual sun, as itdld to-night when Dickens stood before them, and wulie cheer after cheer broke forth, and o lea of wel come and clapping of Innumerable kids, rose and fell and rose again in a friendly roar, tried to sneak and was defeated, and returned gal lantly to the charge again, but has scarcely got as far as "Ladies" wben be was oollged to suc cumb, and made another dash at "Oentlemen," and gave it up, and at last saw tbat one English man was nothing to so many hundred Yan kees, and waited smiling and bowing until they bad had their will, aud were ready to let him bave his. The very first vords "Marley waa dead, to begin with I That was certain" settled tbe question of success. The way in whloh those words were uttered, showed also that the read ing was to-depend for all effect upon the worth of what was read, and upon the sincerity of tbe reader. From first to last there is no trick ery in It full of action, abounding in gesture, with a voice for every character in every mood; with a face for every man. woman, and child, reflecting every feeling. There Is no straining for stage effect, no atlltudlzing, no affectation. The most effective reading we ever listened to It was tbe most beautifully simple, straight forward, hearty piece ot painting from life. Dear Bob Cratchlte made twenty-five hundred friends before be had spoken two words, and If everybody had obeyed the Impulse of his heart, and sent him a Christmas goose, he would have been suffocated, in a twinkling, under a moun tain of poultry. As for the delightful Flzzl wlgs, not the coldest heart In the audience but warmed to them at once. Probably never was a' ball so thoroughly enjoyed as the one given by these worthy people to their apprentices. The greatest hit of tbe even ing was tbe point were the dance executed by Mr, and Mrs. Fizzlwlg to Miss Fizzlwlg was described. The contagion of tbe audience's laugbter reached Mr. Dickens himself, who wltb difficulty brought out the Inimitable drol lery, "after which Mr. Fizzlwlg cut positively cut bo tbat a light seemed to shine from his very calves, and he actually winked with his legs." This was too much for Boston, and I thought the roof would gooff. Next to this, tbe most effective point was Tiny Tim. whose plaintive treble, with Bob Cratchlte's way of speaking of blm, brought out so many pocket baudkerchiefs that it looked as If a snow-storm had somehow got Into the hall without tlckeU. Seldom do we hear such genu ine pathos as tbat with which Mr. Dickens read the poor futber's lament over his little lame child, and great was the genius which enabled him to walk so safely on the dangerous edge thai separates nature, pure ana simple, from mere traveslle. The Christmas party at the house of Scrooge's nephew, where Tupplns plays blind man's buff wltb the plump sister in the lace tucker, was a thing never to be forgotten. When Dickeus said, "I no more believe that that man was Dlinaroiueo man l oeneve mat ne naa eyes in his boou." his facial expression Indignant as of a man who is being put upon, and yet with a consciousness of the absurdity of the state ment that makes blm laugh iu spite of his anger was Inimitable, and it was longbefo e the audience would let mm get on. At last we had it, and the plump sister with the lace tucker became Immortal. There was an Intermission of about ten minutes between the reading of "Tbe Christmas Carol" and "The Trial bcenefrom Pickwick," and as he closed the book with Tiny Tim's -uoa Diess us every one," tbe enthusiasm or tne vast assem bly broke forth in such expressions as, to those who know the impassive nature or Boston audiences, showed plainly enough that the heart under all their silk and broad cloth was fairly stirred and beating with warm goou-wui. nut uioaens was ptainty not to be persuaded into a speech. For all the nproar, be did not appear again, until the court called up the case of Bardeil versus Pickwick. It was easy to see that tbe reader himself had a peculiar affection for this part a leaf torn from a book that is associated with the beginning of his lame, the end oat of whloh this splendid tree-stock, set with flower and fruit, bas grown. He read it wltb full force, throwing himself into It with all his heart, and, I may add, with all bis body, tor be put much more acting into this part of bis reading tnan into the first part. Sergeant Buzfuz's speech to the jury was with out a flaw, a pearl of the art of anting, and no worusoimtue or anyooay couiu express the way in which Nathaniel Winkle was before us. Not less excellent was the Judge the sourest. stupidity that ever was seen or beard ot. lam aoout iaciai expression, nothing more wonderful was ever seen than the change from tbe Judge, who seemed to always be smelling something disagreeable, to the frank, cheery face of Samuel Weller, as fresh as a rose aud as good to look at. Here was a soene. The minute the Court said, "Call up Samuel Weller," that lrlend of near thirty years' standing was recognized by all Boston at a glance, and his mounting tbe stand was a sig nal for such a baud-shaking (speaking in a Cgure) that he will never forget. And wasn't It jolly to see him. Jolly to hear him, and jolllest of all to hear tbat deeo. rich voice of hlsolrf father, deep aud rich as the loam on his quart pot of ale, culling out from the gallery, "Put it uuw u wnu ice, uiy toru, put It aoffU With a we." . In reading these works of his. Mr. Dickens neither follows the original text, nor adheres closely by any means to the text of tne pretty and convenient handbooks which he has him. self condensed ard prepared. He leaves out a good deal, changes words, mistakes words sometimes, and really muoh of It seems im promptu, i mougni, now anu men, that he was thinking of his present audience, and put ting In what he fancied would suit butler here than In London. 'His delivery has marked peculiarities, and is thoroughly original, lie deals much In the rising Inflection at the end of sentences. Is sometimes monotonous, and keeps up old pronunciations that we seldom bear on this side of the water: "C'larc" for clerk, "wlud" with a lonx ," "Ojun" for odious, area few. But, on the whole, his accent and pronunciation are not what we cull Eng lish, Tbe greut difference between bis delivery, and that of our best Americans, is In Its slow, deliberate, clear-cut distinctness. This Is in the descriptive parts. Where it sulU the occa sion, his delivery takes every shape, aud U good for all needs. Hcrogus' growl, Bob Ciatohlt's trembling appeal, the pompous blus ter of Buzfuz, Mrs. Cluppln's maundering whine, and Sam Weller's manly yeoman s shout are all echoed by that magical yol!8. which will be recognized wherever it is i""r4 In America as the voice of a great autho r. aud of Hie greatest, perhaps (certainly lu vorsutility of rower the greatest), tbat bus ever charmed oui Western World. ; ' Tna Power of tub Times. A correspondent of the paper says: "The Timet having taken 4h subleot of cheap food, it ia now in I verybod ft mouth." WUluU causes foolUU ' Jr'ua to aik whether it is the Timet or. cbP- FIRST EDlTlQtll STATE OP THE NATION. The American Annual Budget, - , - . Second Message of Presidont Andrew Johnson. , ' Tlic Repeal of the Reconstruction Acts Demanded. Negro Suffrage and its Dangers Bitter Opposition to Congress Southern States Ought to bo Admitted at Once. Important Financial Views. Ktc Etc.( Etc.. Etc., Etc., Etc. Washington, Dec. 8, 186T. Fellow Citizens of the Senate and Uuute of Repreentative: Tbe continued disorganization of the Union, to which the President bas so often called the attention of Congress, Is yet a subject ot profound aud patriotic concern. We may, however, find some relief from that anxiety In the reflection that the palnfnl politi cal situation, although untried by ourselves, is not new In the experience of nations. Political science, perhaps as highly perfected In onr own time and country as In any other, has not yet disclosed any means by which civil wars can be ab solutely prevented ; an enlightened nation, however, with a wise and beneficent Constitution of free go vernment, may diminish their frequency and mltipate their severity, by directing all it's proceedings in ac cordance with its fundamental law. When a civil war baa been brought to a close, It Is manifestly the first Interest and duty of the State lo repair the In juries which the war has inflicted, and to secure the benefit of the lessons It teaches, as fully aud as speedily as possible. This duty was, upon the termi nation of the Rebellion, promptly accepted, not only by the Executive Department but by the Insurrec tionary States themselves, and restoration in the first moment of peace, was believed to bo as easy and cer tain as it was indispensable. Disappointed expectations. Tbe expectations, however, tben so reasonably and confidently entertained, were disappointed by legisla tion from which I felt constrained, by my obligations to the Constitution, to withhold my assent. It is, therefore, a source of profonnd regret that In comply ing with the obligation imposed npon the President by the Constitution, to give to Congress -from time to time information of tbe state of the Union, I am nn able to commnnlcate any definitive adjustment satisfac tory to the American people, of the questions which, since the close of the Rebellion, have agitated the public mind. On the contrary, candor compels me to declare that at this time there is no Union as our fathers understood the term, and as they meant It to be understood by us. The Union which they estab lished can exist only where all the States are repre sented in both nouses of Congress, " where one State is as free as another to regulate its concerns accord ing to lta own will," and where the laws of the central government, strictly confiued to matters of national jurisdiction, apply with equal force to all the people, of every section. That such la not the present "state of the Union" is a melancholy fact, and we ail must acknowledge that the restoration of the States to their proper legal re lations with the Federal Government, and with oue another, according to the terms of the original com- , pact, would be the greatest temporal blessing which God, In his kindest providence, could bestow upon this nation. Our Duty. It becomes onr Imperative duty to consider whether or not it la Impossible to effect this most desirable consummation. The Union and the Constitution are Inseparable. As long as one Is obeyed by all parties, the other will be preserved ; and if ont Is destroyed, both must perish together. The destruction of the Constitution will be followed by other aud still greater calamities. The Constitution. It was ordained not only.to form a more perfect tnion between tue States, but to "establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity." Nothing but Implicit obedience to its requirements, In all parts of the country, will accomplish these great ends. W ithout that obedience we can look forward only to continual outrages npon Individual rights, In cessant breaches or the public peace, national weak' ncss, financial dishonor, the total loss of our profpe- rlty, the general corruption of morals, and the flual extinction of popular freedom. To save our country from evils so appalling as these, we should renew our efforts again and again. To me the process of restoration seems perfectly plain and simple. It coiiblcts merely In a faithful ap plication of the Constitution and the laws. The execu tion of tho laws Is not now obstructed or opposed oy physical force ; there is no military or other necessity, real or pretended, which can prevent obedience to the Constitution, either North or South. All the rights and all the obligations of St.tos sud individuals can be protected ud enforced by means perfectly con sistent with the fundamental law. Tbe courts may be everywhere open, and, If open, their process would be unimpeded. Crimes at'alust the United States cau be prevented or punished by the proper Judicial au thorities in a manner entirely practicable and legal. There is. therefore, no reason why the Constitution , should not be obeyed, unless those who exercise Its powers have dctermiuea mat it suau ue uisiegaraeu aud violated. The mere naked will or this govern ment, or of some one or more of Us branches, is the only obstacle that can exist to a perfect Uniou of all the States. On this momentous question, aud some of the measures growing out of It, I have had the misfortune to differ from Congress, aud have ex- pressed my couvictlous without reserve, though with becoming deference to the opinions of the Legislative Department. Tbe President's Position Unchanged. Those convictions are ' not only unchanged, but strengthened by subsequeut eveuU and further re flection. .The. UauSMudjsat importance of tb subject' will P tuttclcal vx.cui. fvi caUUig joux uttliva W some of tht reasons which hare so strongly influenced my own Judgment The hope tbat we may all for mally concur In a mod of settlement consistent at once with onr true Interests, and with our iwri duties to the Constitution, is too natural and too Jut t to be easily relinquished, i ' Tbe Late Insurrectionary States. ' . . It Is clear to my apprehension that the States la'e'y In rebellion are still members of tbe National Union. When did they cease to be sot The "Ordinance ol Se cession" adopted by a portion In most of thsm a very small portion of their citizens were mer nullities. If we admit now tbat they were valid and effectual for tbe purpose intended by their authors, we sweep from tinder onr feet the whole ground npon which w Jus tified the wflr. Were those States afterwards expelled irom tbe Union by the war? The direct contrary WM averred by this government to be Its purpose, and was o understood by all those who gave their blood and treasure to aid In Us prosecution. It cannot be that a successful war, WAged ior th preservation M tbe Union, had the legal effect of dis solving It. The victory of the nation' arms was not the disgrace of her policy ; the defeat of Secession on the battle-field was not the triumph of It lawless principles ; nor could Congress, with or without the consent of the Executive, do anything which would have the effect, directly or Indirectly, of separating the States from each other. To dissolve the Union is to repeal tbe Constitution which holds it together, and that is a power which does not bolong to any depart of the government, or to ail of them united. This is so plain that it has becu acknowledged by all branches of the Federal Government. The Execu tive, roy predecessor, as well as myself, and the beads of all the departments have uniformly acted npon the principle that the Union Is not only undissolved, but indissoluble. Congress submitted an amendment to the Constitution to be ratified by the boathern States, and accepted their acts of ratification a a ne cessary and lawful exercise of their highest fnnction. If they were not States, or were States ont of the Union, their consent to a change in tbe fundamental law of the Union would have been nugatory, and Congress In asking It committed a political absurdity The Jndictary has also given the solemn sanction of Its authority to the earns view of the case. Tb J udgei of the Supreme Court have included the Southern States In their circuits, and they are constantly, la banc and elsewhere, exercising Jurisdiction which does not belong to them, nuless those States are States of the Union. If the Southern States are component parts of the Union, the Constitution is the supreme law for them, as it is for all the other States. Tbey are bound to obey It, and so are we. The right of the Federal Government, which is clear and unquestion able, to enforce the Constitution npon them, implies the corelative obligation on our part to observe its limitations and execute its guaranties. Without the Constitution we are nothing; by, through and under Ibe Constitution we are what It makes us. We msy doubt the wisdom of the law; we may not approve of Its provisions, bnt we cannot violate it merely because ft seem to confine our powers within limits narrower than we could wish. It is not a question of Individual, or class or sectional interests, much less of party predominance, but of duty of high and sacred duty which we are all sworn to perform. If we cannot support the Constitution with the cheer ful alacrity of those who love and believe in it, we must give to it, at least, the fidelity of public servants who act nnder solemn obligations and commands which they dare not disregard. The constitutional duty Is not the only one which requires the States to be restored ; there Is another consideration, which, though of minor importance, Is yet of great weight. Object of the Late War. On the 82d day of July, 18BI, Congress declared, by an almost nnauimons vote of both Houses, tbat tbe war should be conducted solely for the purpose of preserv ing the Union and maintaining the supremacy of the Federal Constitution and laws, without impairing the divnity, equality and right of tbe States or of Indi viduals, and tbat when this was done the war should cease. I do not say that this declaration Is personally bindinff on those who Joined 1n makinc 1L int mum than individual members of Congress are personally uwuiiu iu puj b iiiiunc ueot crested unaer a law ror which they voted. But It was a solemn nnhlic official pledge of the national honor, and I cannot Imagine upon what ground tbe reuudtation of It Is to h justified. ir it be remembered, this promise was not made to Rebels only. Thousauds of true men in the South were drawn to onr standard by it, and hundreds of thousands in the North gave their lives in the belief that it would be carried out It wa mad ou the day after the first great battle of the war had been fought and lost All patriotic and intelligent men then saw the necessity of giving such an assurance, and be lieved that-without it the war would eud In disaster to our cause. Having given that assurance in tbe ex tremity of our peril, the violation of it now, in the day oi onr power, wouin do a rucie rending or mat good faith which holds the moral world together. Onr country would cease to have any claim upon the con fidence of men. It would make the war not only a failure but a fraud. Opposition to Military Reconstruction. , Being sincerely convinced that these views are cor rect I would be unfaithful to my duty If 1 did not recommend the repeal of the cls of Congress which place ten of the Southern States under the domina tion of military masters. If calm reflection shall eatisfy a majority of your honorable bodies that the acts referred to are uot only a violation of tbe na tional faith, bnt in direct conflict with the Constitu tion, I dare not permit myself to doubt that yon will immediately strike them from the statute book. To . demonstrate the unconstitutional character of those acts, I need do uo more than refer to their general provisions. -' It must be seen at once tbat they are anthorlied to dictate what alterations shall be made In the con stitutions of tbe several States ; to control tbe elec tions of State legislators and State officers, member of Congress and electors of President aud Vice Presi dent LJ arbitrarily declaring who shall vote aud wh shall be excluded from that privilege; to dissolve State legislatures or preveut them from assembling; to dismiss judges and other civil functionaries of the State aud appoint others without regard to Slat lawj to organize aud operate all the political machinery of the States; to regulate the whole administration of their domestic aud local affairs according to the mere will of strange and Irresponsible agents sent among them for that purpose. These are powers not granted to the Federal Uo vernment or to any one of It branches; not being granted, we violate In the face of a positive interdict, for t) Constitution forbids us to do whatever it does not affirmatively authorize even by express words or by clear implication. If the authorily we desir to use does not come to us through the Constitution,, we can exercise it only by usurpation, and usurpation ia the most dangerous of political crimes. Hy that crlma the enemies of free government in all ages hav worked out their designs agaiust public liberty and private right. It leads diructly and immediately to the establlHiimeutof absolute rule, for undelegated, power is always unlimited aud nnrestrslned. - -- 1 The acts of -Congress in question, are not only olv jectionable for their assumption of uugranted power; but many of their provisious are in conflict with the direct prohibitions of the Constitution. The Consti tution commands that a republican form of povtiru meut shall ha gtiarautied to all the States; that no person ehallibe deprived of life, liberty or property, wiiluuit due procets or law ; arrested without a Jiidlt cial warrant, or punibhea without a fair trial before au Impartial Jury ; that the privilege of hsbeasoorpu shall uot tie denied In time of peace, and that no bill of attainder shall be passed evu against a single iu -dividual. let tuo system of measures established by these acts ol Congress does totally subvert aud destroy the rorm as well as the substauce of cepuhlican govoriimeut. Iu the ten States to which they apply It b uds them baud and foot iu absolute slavery. ud suuiects them to a strange and hostile power mora mi limited and more likely to be aliu.ui Uiau say other uow known aiuoiiK civilized men. " It trainiilu down uli those rltrliu iu which the es sence of liberty consists, and which a free goveruuient Is always most careiul to protect. It denies the habeas coruus uud uial h lurv. Personal freedom,. property andjife, if assaulted hy the passion, th pre judice, or the rapacity oi the ruler, have no security ""aiccr. ii Das me enect oi a uiu i tinur, n bill of pains and penalties, not upou a few Individuals, : but upon whole masses, Including the millions who Inhabit the subject Slates, and eveu their unborn children. These w rones being expressly forbiddu, cannot be contumi0i,'ttUy lullioted Umiu any portion of our people, uo mutter bow luev "y bav iu within our iini,li,.n,,,. ,,n muLtur wiioiUtr Ui live lu Slates, 'l'ci riioi i., or Disti lot. . . . 1 Iihvh ii. i fr., tin! nrouer ana JUit , consequence of their ureal crime, thus who ug iged .IU rebellion atralunt the jfoverumeutj but a a uioUa of PHuluhnient, Lli. measures uudir cousiderauou ar. the most unreasonable tln.t coilld h invented. Man fit UuM ptppi o perfectly liwtWiiti ittWlvli