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4 TERMS OF THE TRIBUNE. batch or *rn*riitPTi«J« n ATArt.it in advakrr). Penmen I'rrnnld nt Mils Office. fully Rdltlnn.iK.n tml.l. J year 31.1*00 I’ltUff jear «f samorate. Mailed In*oy ail<lfi>«« rnvn wj-.nsfl for 1.00 fi.imUy KiitUoo: Mle/ary tml Uellgteua duulila •tlMt.... It. 00 TH-Wmu/, pod-paid. I year O.ol> Parti of year at mine rate. WRRKLT RDITIOS. POSTPAID. Onieopy, par year..,.. ~..91 ■•>»> Club oi flve. per I..KJ Club of twenty, por copy 1.10 The postage la 15 cents a year, which wo will prepay. Specimen copies aeot free. To prevent delay end mistaken, ha euro and give Port-Office addreee in fall, Including stele end County. Remittance* may b* tnada tidier by draft, express, Poet-Offkc* order, or in retfrtereil letter*, at oar risk. tisius to errt acrwcninm*. Daily, delivered. Sunday excepted, £.l cent* per week. Daily, delimit], Sunday Included, III) cent* per week. Addrea# THK TRUIONT. COMPANY, Contes Madison and Doarborn-rta., Chicago, 111. AMUSEMENTS. NEW cmCAOO THEATER—CIark atraM, between Randolph and l*ke. Engagement of nelly ft Leon’* Mlnatrela. ADELPHf THEATRE—Dearborn street, corner Monroe. Variety entertainment. MrtVICKER'B THEATRE—Madison ttreet, between Dearborn and State. Engagement of May Howard. "The New Magdalen." WOOD’S MUSEUM—Monroe street, between Dear born and State. Afternoon, ** Ogtnlllo.”Evening, "Six Degree* of Crime,” UNION PARK enUßOH—Concert bylha Barnaboe Troupe. UNITY CHURCH—Lecture by TV, M. R. French. Bubjao: " The Artlatic QuaUlle* of tho Caricaturist*.” SOCIETY MEETINGS. ATTENTION, flfß KNlOHTßl—Annual Conclave of Apollo Commandory, No. 1, K. T„ thla (Tnwdaj) eve ning, at 6 o’clock, at tho Asylum, for the transaction of Annual JJtulnaM. Vultms Hip KnlcUta courteous ly Invltad. Uy order of the C. C. H. I). W. MCKE, Recorder. ASHLAR LODGE, No. 3M, F. #nd A. Xf.—tlwilar W«Una this (Tii9Bdny) evetilnp, In tlulr bill. 76 Mon ro9-*t.. for work on tho 3d Decree. Th«* fr*(rrmiy cordUlly Invited. C. If. CRANE. Roc. Mhc dnjictwjtf tribune. Tuesday Morning, December 7, 1876. The Signal Service report indicates con tinued rain, with windsbockiug to the north west, and colder weather. Greenbacks, at the Now York Gold Ex change yesterday, opened at 87}, rose to 87$, fell to 87 I }, and closed a shade under the last figures. At a gathering of some 200 Methodist clergymen in Boston yesterday, Bishop Haven broached the proposition that Presi dent Grant be nominated for a third term. The Bishop’s answer was a unanimous Ament The occurrence may bo set down as significantly complimentary rather thou po litically consequential. In the election of Commissioner Johnson as President, the now Board of County Com missioners offer but little encouragement for the expectation that the reorganization of the Board will put an end to the domination M the Ring. Taking ns an indication the previous predilections of the now presiding officer, there is no reason to anticipate a bet ter state of things during the ensuing year than that which prevailed during* the ex istence of the preceding Board. It Is evi dent that there will still remain a need for the watchfulness of the Citizens' Association in order to prevent frequent raids by the reorganized Ring upon the County Treasury. Tho annual report of the Secretary of War contains many important recommendations, notably those relating to tho value and effi ciency of tho Signal Service, and the sugges tion relative to its establishment as one of the Bureaus of the War Department; tho necessity for increasing tho battalion of en gineers to COO men lor the purpose of plant ing and operating tho torpedo defense sys tem; the urgent need of larger appropria tions for arming and equipping the militia, os well as for increasing the reserve supply of first-class arms for tho regular service; tho importance of providing for tho arma ment of our seacoosfc fortifications. Tho recommendations of Secretory Belknap, in relation to tho questions of armament and defense, will command peculiar interest and attention just at this time. Tho first day’s session of tho Democratic House of Representatives witnessed a sharp and exciting contest on tho Louisiana ques tion—a contest in which superior political acumen and parliamentary skill carried tho day as against tho advantage of numbers. It was Fernando Wood’s first effort to seize tho Democratic leodership, and in tho outcome that gentleman’s pretensions were effectively disposed of by tho promptness and energy with which ox-Spealter Blaine, admirably seconded by Mr, Wueklrb, of New York, throw himself into tho breach and defeated tho audacious attempt to onco more tear open tho Louisiana question. Mr, Blaine’s success was brilliant and com plete, though it was not completed until Lamab and Cox had committed tho serious blunder of siding with Wood and sharing in the humiliation of his failure. It was a pretty fight, and handsomely won. The Common Council made itself appear extremely silly not long ago by ordering that a demand be made upon tho Committee hav ing in charge the fund created by the solo of paintings donated by French artists for tho relief of artists who suffered in tho great Chi cago fire of 1871. Apart from tho fact that tbo necessity for such a fund had long since passed, if, indeed, such necessity existed, the Common Council hod no conceivo ble right to meddle with the matter. Consequently, in making tho “demand ” that delectable body laid itself liable to bo elegantly snubbed, and tho opportunity has been improved by the Chairman of tho Now York Committee, Mr. E. D. Morgan, who, iu a brief note to Mayor Colvin, neatly convoys an intimation that of all persons on earth to whom Ibo Committee would think vf surrendering their trust, tho Mayor and Common Council of Chicago are the last. And tho people of this city will commend the excellent Judgment of the New York Commit ted os expressed by Mr, Morgan, * The Chicago produce markets were very Irregular yesterday. Mess pork was active and 10@15o per brl lower, closing at $16.1)0 seller the month, aud $19.15 for February. Lard was less active aud 5(S)l0o per 100 |i>s lower, closing at $12.15 cash, and $12.02) (&12.85 for February. Meats wore quiet and ic lower, at 7o for shoulders, 9Jo for short ribs, and lOJc for short clears, all boxed. HigUwiues were In fair demand and steady, at sl.ll per gallon. Flour was dull and weak. 'Wheat was more active aud 2@2)c low'er, closing at &7jfo cash, und 08$o for Jan nary. Corn was dull and a shade firmer, closing at i6jo for December, aud for May, Oats worn qniot nnd easier, closing nt fiOc cash, anil "o*c for January. Kyc wan quiet at <s73Harley was in luitler de mand and Sinner, closing at SMe for Decem ber, and •'•'•'c for January. lings were dull ami Iflo lower limn Saturday. with the bulk of llin Haifa at n.S,”, Faille wero inact ive and unchanged. Sheep were dull at sß.oo(a.'4.an. One hundred dollars in gold would buy $111,117} in greenbacks at the close. Tho resignation of tho Hon. Jasper D, Ward ns United Staten Attorney for this dis trict has not boon unexpected. It has been known that, among flio recent indictments by tho United Stales Grand Juries for fraud on tho revenue, there have been persons with whom Mr. Warp, as a resident and lawyer of Chicago, ban had intimate social and profes sional relations in Iho past. If ho had re tallied his position as tho prosecuting nllor ney for tho Government, his duty in some of these cases would bavo been exceedingly em barrassing on this account; ami oven if ho had tho exceptional fortitude to press them to trial with tho caro nnd vigor which hnvo been shown in St. Louis, ho would hnvo boon subjected to many suspicions tin account of tho relations wo have described. Mr. Louis C. Hitk, the new County Treas urer, formally look possession of his ofilco yesterday, having duly qualified by Inking tho oath and giving tho requisite bonds. Mr. Hock's first net was to count tho money left by his predecessor, “ Buffalo'' Miller, which was found to bo S2.VJ,t);H.iW, —a full and complete settlement with tho county nnd State. While wo congratulate Mr. Huck upon taking possession, we congratulate Mr. Miller upon going out with honor. Tun TacntrN’R did not bcliovo nt tho time tho stories that wero circulated against him for “ campaign purposes,” and therefore refused to give currency or countenance to them. Tho warning afforded by D. A. Gaol was heeded by Mr. Miller to such good purpose that ho is able to Icavo his ofilco with clean skirts, nnd to turn over every dollar belong ing to Iho county promptly on demand. MB. LAMAR’S SPEECH. The Now York World sings an exulting pam of triumph over the speech delivered by Mr. Lamab, as Chairman of the Demo cratic Congressional caucus, on Saturday last. It is the first time it has had to sing for many years, and, while wo have no objection to its singing, it may bo instructive to find out what it is singing about. By way of pref ace, wo are willing to admit that Mr. Lamar is one of the ablest, most polished, fairest minded, and most influential men in the Sonth. Ho stood high in the old Congress before the War. He is a man of fine ability and elegant address, and is eloquent of speech. Ho went into the Rebellion with much reluc tance, according to his own representation. He is not a baler of the North, nor a man who cherishes resentments, and is perhaps os fair a type of a “reconstructed Rebel ” as the South enu present among its most promi nent men. As such ho was put forward as the Chairman of the caucus without any op position upon the part of either of the tbreo candidates for the Speakership or their back ers. He represented the majority sentiment of the caucus, and, as far as ho was allowed to, the Democratic plolform and policy of the House of Representatives. Wo are oxultingty told by the World that “ Mr. Lamar’s speech will arouse a cordial and responsive echo in every Democratic heart from Maine to Texas, from New York to California.” What ore the propositions that are going to produce this remarkable cf feet ? It is easy to sift out those to which the Republican party will make no objection, and which wo ore glad to be assured are go ing to arouse the Democratic echoes. They are the propositions to pay the national debt in full in the world's money; to make the paper currency “equal with that of any nation on the earth to reduce the expenses of the Government; to adopt such a system of taxation os will bring In the required rev onuo with the fewest restrictions upon com merce and with the least burden to the farmers and laborers ; and to ferret out and punish corruptions. AU these propositions cover Republican ground, and wo are glad to ho assured that their enunciation is bound to raise an echo in every Democratic heart. Having sifted these out, there still remain two propositions which ore open to discus sion. Mr. Lamar says: There baa been for tome time in llio public mind a conviction profound and all-pervading that tbo Cml Service of the country tina not been directed from conaidcrationa of public good, but from those of parly profit, amt for corrupt, aolflah, and unpatriotic do* feign*- Tbo people demand at our bands a sweeping and thorough reform, which ahall bo conducted la a spirit lint will socuro tho appointment to pUeesof tru»t and rospoualblllty tbo honest, tho experienced, and the capable. This conviction has been profound and all pervading not only for “ some time,” but for many years. It has existed over since tho days of Andrew Jackson’s Presidency, when the Democratic party destroyed tho Civil Bor vio, and adopted oh a party motto ; ’‘To tho victors belong tho spoils. ” When they adopt ed this ruinous policy, they made office-hold ing purely partisan in character, and they carried out that policy from 1828 to 1801 with such completeness that, during all that time, thcro was not an office-holder under tho Federal Government who held his place be cause of his ability to fill it, but because ho was a Democratic partisan. During nil these years they have carried but this policy, not only in the offices under tho Federal Govern ment, but in State, county, municipal, and town offices, wherever they have boon in power. Every office has been filled with partisans for partisan purposes. Mon of ability, and intelligence, and honesty have been ruthlessly turned out to make room for partisans. The very caucus which Mr. Lamar was addressing is a notable illustration of tbo truth of this assertion. Every office which it had in its gift, down to the Doorkeeper, was tendered to a partisan, and even a partisan Chaplain was selected to pray for them and look after their religious interests who had made himself so obnoxious in Connecticut during the War by his “ polit ical principles” that ho was put out of tho Stale, according to thodispalchcs,—tho “polit ical principles,” of course, meaning sym pathy with the attempt to break up the Federal Government. In discussing ond ad vocaliug reform in tho Civil Service, there fore, Mr. Lamar is handling edged tools. If there is any application to bo mudu to his re marks upon this question, it can only be a censure of tbo Democratic spoils policy and practice over since tho party was organized, forty-seven years ago. But again says Mr. Lamar ; Tho grtudut la»jilruU«u of the Democntlc patty 1«, md iu crowulug gl-ry will be, to mtoru lbs Ooo tlltuUoa to It* primitive felrrogtb sod authority, uud le make it tho protector of every section aud ol every bUtu lu the Uoiou, aud of every human Leiug, of every race, color, and coudlilou, In tho laud. . . . UrutlcQittD, we ire btre u Democrat*, —member* of a political part; wblcb but a long aud glorious oJjtory. THE CHICAGO TRIBUNE: TUESDAY DECEMBER 7, 1875. I*t n* !n oar ilntle* (hi* winter mall nn<t revive tho*« principle*, the f.hhhii maintenance nf whh-li by t 1m» father* of our parly secured U tot *« lonff a. pvrlu't (lie eonfltiphi’o ami cuppcrt of (ho people. This is another proposition which h going to rouso the Democratic echoes, Wlint is this “ inspiration of the Domocratic party " ? 'Wliat is this ‘‘primitivestrength ami authori ty ” which Mr. Lamar winhes to bco revived tins winter, and which ho puts forth in such n plausible manner? Nothing more nor less Uum the old Democratic doctrine of “Stale Sovereignly," with all the dangers and abuses that it implies,—the doctrine that the Federal Union is but a partnership or league of States, in which each is independent nnd free to do as U pleases, oven to the right of secession, whenever it is so disponed. It was that Demooratio doctrine which led to the terrible Civil War; which upheld slavery with all its abuses and cruelties; which drove the Supremo Court to make tho Dntn Scott de cision ; which set up ideas inimical to tho Union of tho Staton; which took charge of fifteen State Oovemmontu nnd set them up as independent of lUo Federal Government; which filled hundreds of thousands of men in tho North with the name ruinous principles; which involved tho country in its tremendous debt; which filled tho cemeteries with tho very llowcr of Northern and Southern youth and tho whole country with widows nnd orphans. And this is wliat rouses an echo in every Democratic heart! This is what Mr. Lamar desires tho Democratic party to “rc* call and revive " this winter! \Vo had hoped this destructive doctrine was dead and buried, and that this inglorious history of tho Demo* crnlic party was not to bo revived; but it now appcaw that tho party which commenced by destroying tho Civil Service and almost tie* stroyed tho Union is now bent upon destroy, ing tho hopo that oil these bitter memories hod passed away, and restoring onco moro that woful dogma of State Sovereignty, in stead of burying it forever nnd atoning for its offenses of tho past by giving some guar antee for the future. SOUTHERN CLAIMS BEFORE CONGRESS. Tub Tiuuune has anticipated, over since it has been known that there is a largo Demo* crntic majority in the popular branch of the present Congress, that desperate efforts would bo made to introduce and allow claims against the Government growing out of the War of Rebellion, heretofore excluded by the bar of disloyalty on the part of the claimants. Our later Washington advices indicate that tins fear is well-grounded. The way has boon parity opened in the past by the estnb lisbment of the Southern Claims Commission, whoso life has been extended from time to time, and -whoso province has been to ex amine into claims for damages suffered by Southerners who were true to the Union. But, oven under this restriction, it is evident that a vehicle was furnished for disloyal claimants to got a hearing, and many of them on an uncontcstcd ex-partc state ment. There have been 22,000 claims presented to this Commission, aggregat ing more than $00,000,000. While the great bulk of these has been disallowed on account of disloyalty, there is little doubt that men in open rebellion against the Government or in full sympathy with the Rebels have been reimbursed for their losses incident to the War. Oars is the only Gov emmont in the world that undertakes to re imburse losses that grow out of a war, ami it was found necessary to reduce (he principle of international law (that treason is a for feiture of property-rights) to a statute; and on March 2,18(17, the following joint resolu tion was adopted by Congress: Tbit, until olberwlio ordered, It Mull be unlawful for toy officer of Ilia United SUlcn Government to pay any account or demand against said Government which accrued or etlaied prior to April 18,1801, lu favor of any person who promoted, encouraged, or in any manner anotalned the late Rebellion; or in favor of any peruon who, during laid Rebellion, waa nut known to bo opposed thereto, and distinctly la favor of 1U auppra'fciou; and no pardon heretofore granted, or hereafter to be granted, ahull authorize tho payment of bucU account, clilm, or demand, uutil thin resolution is modified or repealed; ThatUUaresolu tion ahall not be construed to prohibit the payment of claim* founded upon contract* made by any of the Departments, when such claims were assigned, or con tracted to bo assigned, prior to April I,IBCI, to credit ors of said contractors, loyal citizens of loyal States, in payment of debts Incurred prior to ilarcb 1,1801. Tho first stop toward tho admission of Southern disloyal claims will ho tho repeal of this resolution, and there will unquestion ably bo an effort mndo to bring it about. How much strength such a movement will assume cannot perhaps bo determined till tho latter end of the session ; but every evi dence of it must bo vigorously denounced and opposed from the earliest moment, Tito repeal of tho above resolution will make room for claims to which there will bo no end in number and no limit in amount. Tho abrogation of tho principle itself will lend not merely to an allowance of tho claims of indi vidual disloyalists, but of tho corporations, public and private, and eventually perhaps to the payment for tho emancipated slaves and tho debt of tho Confederate States. Onao introduce the wedge, and there is no prophesying what may not bo squeezed In. The only safeguard is tho strict enforcement of tho oommon-sonse doctrine that disloyalty is a universal bar against any ond all classes of claims against tho Government. The character of the claims which will bo mode against tho Government under this pro posed now departure is already defined. It will admit all those individual claims for property used or rent for quarters occupied whore auy receipts wore given, and without any reference to the loyalty or disloyalty of tho claimants. The old claim of tho census takers of 1800 iu the Southern States will then bo recognized, the bar to the payment of which has been that all claim was forfeited by subsequent secession aud rebellion against tho Government. The ante-bellum mail-con tractors will also come in under tho now dis pensation ; that is, those having contracts for the carrying of the mails on Southern routes which wore cot off by tho War will be paid os if they had fulfilled their contracts. In the same category belong tho Postmasters of tho Southern States, who claim that thor had losses inpostage-stnmpsonhand; wo pre sume they will also set up a claim for pay during tbo entire interregnum, when tho United States Lad no Postmasters in tho cities whore they were last located. All those claimants will not, of oourso, bo satisfied with the original face of their alleged losses on account of the War, but will also demand interest thereon for tho fifteen years during which they have been out of the money. The allowance of the principal will carry with it an allowance of tho interest. Of a kindred nature with these claims for direct muaoy-allowauce as a reward for rebell ion are the proposed raids on tho Treasury fur the recovery of money paid Into it, or re lease from obligations to the Government. Thus there was a cottou-tox for two years— ii cents per pound on tho crop of 18C0 and 2) cents on that of 1807 —which tho Southern ers want refunded, though there was certain ly more justice in levying a tax on a product which was bringing thorn higher priced thnn ever before, nnd to help pay the expenses of n war they had brought on by treason, than it was to levy Kpcclal taxon upon I ho Northern patriots who had put down the Bobollinn. If them is any refunding of thn cotton-tax, there wilt bo a much bettor chum on the part of tho Northerners for tho war-loxes they paid. Thcro will likewise bo a movement in behalf of tho Southern railroads to escape tho payment of tho Government claims for the properly Hold to thorn on credit after tho' War, xfhioh nlono enabled them to resume business, which was probably the greatest boon that could have been conferred on the Southern people, and which did moro than anything else to assist their revival in commerce. Then those bo called “claims,” either for reimbursement for losses on account of disloyalty or for im munily from debts justly duo, will bo fol lowed by schemes for vast improvements at Government expense, in favor of which tho StanlhcrncrH arc disposed to waive their chcr ished doctrine of Slates’ Rights. If wo Ignore the principle involved in this raid of tho disloyalists, tho practical ques tion arises: Who is to pay nil theso claims? This is a question which every intelligent citizen who is not n claim-broker will ask his Congressional Representative, whether ho comes from tho South or tho North. Those eloiniH can ouly ho paid by taxation. Tho Government revenues aro not now in excess of tho Government expenses, and aro not likely to bo for Homo timo to come. There is no way to meet any extraordinary demand upon tho Government, then, except hy forc ing the money from tho people hy increased taxation, or increasing tho public debt, which amounts to tho same thing. The South and tho North aro ono country again, and tho former must contribute its share both now and in tho future to tho pay ment of any Government moneys on any ac count. Aro tho Southern people, os a whole, any moro willing thnn tho Northern people to throw open tho I’ubllo Treasury to a horde of claim-agents ? This is tho question which every Southern Congressman who desires to keep faith with his constituents must ask himself. Tor oven (he base consideration of Southern loyalty to tho “ Lost Cause ” can not change tho fact that Government moneys paid out now or in tho future on account of Southern claims will never roach tho suffer cts, cither loyal or disloyal, but will bo di vided among tho claim-agents, brokers, at torneys, lobbyists,—perhaps also among tho Congressmen who vote to allow them. Tho burden is ono tho American people will not endure with palieuco, and the Democratic Congress had bettor spare itself the disgrace of a course that will never bo permitted to obtain, and can only result in their over whelming defeat and discomfiture. IA PYRAMID ON ITS APEX. Tlio theoretical financiers arc putting their predictions and opinions about tlio Loudon money market on record freely. Baoeuot, editor of the Loudon Economist, Bojumy Price, Professor of Political Economy at Ox. ford, Jiivons, author of the best book yet published ou “ Money,” all agree that there is something radically and dangerously wrong about the present system. Bacieiiot devotes some very earnest pages in his “ Lomb ;rd .Street ” to the perils of the Ono-Roservo ar rangement of the English hanks. In his chapter on tho Bank of England and tbo money market, Jkvons prophesies that if something is not done to keep tho reserve of cash in higher proportion to tho liabilities of the bonks there will bo ponies in tho future moro disastrous than those in the past. Taking tho overage of tbo calculations of Palo have und Hosok, it appears that tho actual cash reserve is not more than 5 per cent of tho liabilities of tho banks. Tho en tire fabric of England's cbmmcrco and linanco would bo overthrown if hor mer chants and other depositors should, on an emergency, ank for moro than one-twentieth of tho snms owed them. Should- they do this, tho banks would suspend payment, and ruin would be universal. la a letter to tho Financier, Prof. Bosamt Price attacks tho IBank of England for its mistaken policy about tho relation ol tho rate of discount to tho export of gold. It is a maxim with tho IBank Directors to raise tho rate of discount whenever gold is going out of tho country to such an extent hs to deplete the reserves. They did this lately, raising tho rate from It to 4 per cent, and brought upon themselves tho exposure of thoir loss of their his toric control over tho money-market. Tho Bank raised its rate to 4 per cent, but tho joint-stock banks refused, as they had never done before, to follow tho load. They resisted the attempt of the Bank of England to make all merchants pay on ex tra charge for their discounts because of tho political .demand from Germany for gold. Tho Professor discharges a groat deal of rhetoric at tho hoods of tho Bank of England Directors. He calls their theory "fortuitous 1 doctrine, built on no analysis, no knowledge, but on arbitrary and unscientific assump tion,” etc. This is not all thot is to bo said. Thu theory that the export of gold needed to bo watched and chocked any moro than any other export would bo, of course, absurd in a free money-market. But tho money-market is not free. Tho Bonk charter, tho Bank act, and other interfering causes, have altogether changed its natural condition. For instance, tho reserve, instead of boiug kept by each bank against its own liabilities, ia by successive centralizations accumulated In tho Bonk of England. Tho reason for tho sen sitiveness of tho Bank with regard to an ex port of gold becomes apparent enough when tho facts are known that tho cash reserve of the English banks docs not amount to more than ouu-twuntieth of their liabilities ; that most of this is in the Bank of England, and that instant min would overwhelm oil Eu glond If that were not forthcoming whoa de manded. Theory and practice can never agree till practice is niado right. There is no living English economist of rank who does not roprobato tho organization of tho Bank of England. Jt is idle for Prof. Price to full foul of practices rendered natural if not necessary by tho exceeding instability of British finance. Tho terrible appro* hension constantly before the Bonk of England Directors is that referred to in tho last number of tho London Economut, which says that if the present system collapses, "the special and peculiar credit of England in tbo money-market will perish with it.” The Economist, takes a hopeful view of the future, but tho strongest phrase in which it can put Us hopes is, that while "a peculiar, a frail, an anomalous system it must always be, wo think there is no vital essential defect in it, and that therefore it may last.” It viay lost 1 There is something frightening about such a fonp of speech. It carries tho mind for- 1 won! to a catastrophe greater than any the monetary world has yot seen, —a disaster which will involve nations in ruin, and reduce an Empire to the rank of a third-rate power. It is a sober fact that to nothing loss than this do thn discussions of English economists now point. “ Cassandra ” Greci may find his country wrecked on tho “ rocks ahead " sooner then oven he expected. The greed of British bank-stockholders grows by the dividends it feeds on. More of tho reserves aro boldly ventured to increase tho profits} nnd tho wealth of tho richest conn try in tho world stands, ns hoa boon often aptly said, a pyramid on its apex. Whoa tho pyramid comes down . WHAT A OREBNBAOKEB BATS. Some days ago, Tits Tbtudnr established, by incontrovertible argument, throo facts, — first, flint we could buy necessaries nnd other goods from foreign nations only if our cur rency was exchangeable, by somo process or other, for tho world’s currency, gold; second, that tho amount of gold given for each dollar of tho paper thus exchanged fixed tho value or purchasing power of tho whole paper cur rency in tho United States; and third, that gold-brokers exchanged gold for greenbacks mainly because there is a probability of ul timate redemption of tho latter. Wo asked: “How, then, if gold-rodompUon is openly abandoned, even in theory, is our currency to bo exchanged into that of tho world and tho absolutely necessary international exchanges ©fleeted?” In reply to this question, wo have received tho lengthy, rambling, dis jointed, nnd Illogical letter from Mr. S. D. OAnpENTr.n which wo publish else where. If ho did not expressly say that ho was trying to answer tho question, wo should never have suspected the fact from anything in his long letter. We should have painfully toiled through it, noticed such gross errors in simple mailers of fact ns the statement that the import duties annually amount to “ near $200,000,000,” instead of $1(50,000,000, ns is tho fact, nud tho astounding declaration that gold “ went down into the 70s” after the pas sage of tho Sherman bill, or that tho note holders had lost $8,085,000 on broken Na tional Banks, whereas they never lost a cent on theso notes; and should havo laid down tho epistle, silently wondering what tho writer was driving nt, ami whether his son science would oxcuso his wasting so much paper nud space on uuch worthless words. But Mr. Carpenter essays, ns n member of tho “Executive Committee” of tho •*National Independent Party,” and a signer of its plat form nnd call, to giro a satisfactory reply to tho query wo put. Wo confine ourselves, then, to this ono point, making no reference to tho mass of irrelevant rubbish with which ho overloads his pages and wearisomely lengthens his letter. On tho supposition that his promise is per fectly correct, his conclusion is wholly wrong. Ho nays that money is “valuable in propor tion to tho valuable uses it may bo put to,” nnd that tho Government’s allowing import duties to ho paid in greenbacks instead of gold would so increase tho uso of greenbacks that they would become os valuable os gold. Those few words, by tho way, express every thing there is in the nature of reply to our question in Mr, Carp enter’s manuscript. Now lot us see. Clearing-house statements and general trade statistics show that tho property sold and transferred in this country and tho wages paid amount to between eight and ton billions of dollars ($8,000,000,- 000 and $10,000,000,000) ©very your. Greenback* nnd bonk notes aro valuable for effecting all theso exchanges. If they wore also “ valuable ” for paying tho additional $160,000,000 of import duties, how much would this increase their uses and therefore their vnluo ? Just 2 per cent, Rince the $160,000,000 isbut one-fiftieth of $8,000,- 000,000, or whole volume of transactions. As the greenback now vacillates at about 66 cents on the dollar, it would, on tho supposi tion that Mr, Carpenteh’s premise and method of reasoning aro correct, be worth 2 per oent more, or about 87$ cents. Tho whole effect, therefore, of his flamboyant scheme of greenbacks for duties would be, according tofiis own logic, to raise tho green back 1$ cents in valuo on tho dollar, or, in other words, to make what might bo called tho “ standard basis ” of tho greenback dol lar, the figures below and obovo which its worth constant!; Tuctuatcs, 87$ instead of 86 cents. But tho brokers ora now willing to giro a general average of 80 cents in gold for ibo paper “dollar,” first, because it is a legal' tender for existing debts, and second, be* cause there is a good ohanco of its ultimate redemption by tho Government (and every note bears on its face a promise to redeem). Mr. Cabpsktrr makes some passing reference to redemption in tho future by the Govern ment, but gives no explanation of bow it is to bo done when tho greenbacks are doubled in amount and tho bank notes retired; nor what reason ho has for thus contradicting the plain, irredeemable position of his redomp tionloss Independent party, as shown by the call ho signed a fowdays ago,—a call that flatly negatives tho idea of redemption at any time. His party’s plan would destroy all chance or hope of redemption, while It would double tho volume of greenbacks, and would so cut off the groat reason for tho present willingness of tho brokers to pay oven 8(1 cento for tho greenback. The value of the latter, there fore, Instead of rising to 87} cents, would fall to 77, G 7, 67, and so down, and as soon as tho existing debts were paid off in tho stuff, —as soon, that is, as every creditor hod been legally cheated out of a part of his does, — our currency would become worth continual ly less and less, and finally sink to nothing. The Continental currency was a legal-tender, tccoivablo for all du6s to tbo Government. What did it become worth? Tho payment of the import duties 'in gold provides tho Government with tbs means of paying the interest on tho national debt. If these duties were paid in greenbacks, how would tho Government got tho $104,000,000 in gold needed every yoor for this purpose ? It could do so only by selling its greenbacks to gold-brokers for coin with which to pro cure the gold necessary to pay the interest on its bonds. Could the Government buy gold for its notes on any bettor terms than mer chants can with which to pay duties f What would be gained by receiving greenbacks from the importers for duties and then hav ing to sell those greenbacks Jor gold with which to meet tbo interest on the bonds? How wonld that process improve the value of tho greenbacks, or reduce the gold premium ? We trust tnat Mr. Oabpentzb's Independent party do not propose to repudiate the gold interest and compel the pnblio creditors to accept depreciated, irredeemable notes for interest on their bonds. If that is their pro. gramme, they will find but few Americans dishonest enough to indorse the villainy or willing to support a war against Great Brit ain, Holland, and Germany, whose Govern ments would hardly stand by idly and see their citizens swindled out of a thousand millions of their money. * In addition tc the greenbacks the Govern* meat would have to oell to procure g6ld to pay Interest on Its debt, the merchants would Rlill bo obliged to sell thoir paper currouny to pet gold to pay balances of trade, nnd tho prjeo in goMwhichlliomerchantsnmlthoGov ernmont could pet for tho nuteu Hold in com petition with each oilier would determine the value or purchasing power of tho greenbacks. Tho discount would certainly not bo less than it is now. As the Independents do not po poso over to redeem tho greenbacks, who con toll how much the gold-brokers would give for them ? lie is a rash man who will affirm that they would give AO cents on tho dollar. It Js thus seen, without multiplying words, that Mr. CaiU'ENtbr’s scheme to abolish coin for duties would accomplish no good, nnd might do vast harm, and that it would bring tho country, not one inch nearer to a par cur rency or to coin redemption of notes. Tho rccont decision of Judge Jameson with reference to tho burglary charged against Frank 100 nnd Charles Flynn, although it appears to bo within (ho law, nevertheless sols a dangerous precedent. Those two meu had broken into a building in tho night Unto with tho intent to commit a felony. Ho far it was clearly enough a case of burglary. Tho statute reads: “ Whoever In tho night-time willfully, and maliciously, and forcibly brooks and enters, or willfully and moliciounly, with out force (tho doors or windows being open), enters into any dwelling-house, kitchen, otllco, shop, storehouse, warehouse, malt house, stilling-house, mill, pottery, factory, water-craft, freight or passenger railroad-car, church, meeting-house, or auy other building, with the intent to commit murder, robbery, rape, mayhem, larceny, or other felony, shall bo deemed guilty of burglary,” etc. Tho statutes also define felony os a crime punish able by death or imprisonment in tho Peni tentiary. In this case, ns tho thieves had taken but $1 worth of goods, and as nothing under sls can send a man to tho Peniten tiary, their counsel raised tho point that, as no felony had been committed, tho indict ment for burglary could not hold, and tho Court sustained tho point. If these men had broken into tho building in tho night-timo with tho intention of committing a felony, nnd had stolon nothing at all, they would have been convicted, nnd that they cannot bo convicted of burglary for slcaliug a loss sum than constitutes a felony only shows that tho law ought to bo remodeled. Tho fashion of colohralmg centonarUa boa now being taboo up by tbo Italians, who, in addi tion to tbo Michel Angelo Centenary observed this year, will next year celebrate tbo contonary of tbo piano. They claim that CumsTovoco bad tho Unit conception of tho piano, that la of a sort of harpaicbord in which tho airings should bo etruok Instead of twanged, and male such an Instrument in 1710. Tlio Vail Mall (J a telle says of him and his Instrument: If CuitliTOFono gave to what wan rosily a pianoforte tbe expressive name which at unco character!«ea tost inatiumcnt end rlnws la whet rouped It ditfirs Irjin its prcdocenflor Uio harpsichord, the question as to who invented tho pUno could not but l«J decided in bis favor. There ruiwt bavo i>ceu something dofootlvc, however. In his method of nuanfucture; for.it Is certain that nearly half a century later tbe pianoforte woBBilU regarded as a noveuy. Tho Ituhans will not bo left undisturbed la tboir piano claim. Tho Germans, headed by liiszr, assign tbo harpsichord to Mozaut. Tbo English divide tno honors bet vocu Dusdin and Mason, and Saxony clainu that Siluiuuuhh ta vemed it. In a conversation with a Now York World reporter, Sheriff Dc.vham, who permitted Boss Tweed to escape, enoko as follows : “ Tweed hoi complain'd of Lis head very much of Isle. Hi bat frequently told me that he auircrud great pain there, ami no 1 let him drive out,** " By what authority did Tweed leave Ludlow Street Jail Uwlay 7 " •• Well, It was rn my authority. I’ve often taken prisoners out In tint way. It is quite customary, you know, when they ate In there on civil process.” " Did you dl»« with him at tbe Claremont Hotel ono day hut weak 7 *' •* Yes; Deputy Sheriff Haocn. royrolf, and >tr. Campjxll wero of tbo part]. Wo Rlopiwd at Lis houss nn tbe way bark. Whenever wa went out to drive it was lUntomary to ship Rt his house on the way home, Mr. Tweed boa not received more vMrors than ueiul within the past three or four days, I think bis ron WinniAU Is tbo only person who bis been to sos blm lately. PEB3OHAL. Even tho worm will turn when trod upon; will not Maguire? God. Logan was reported last night os much better, and still Improving. Let no fair woman tsmyt thy sliding mind ■With gmnenla gathered in a hoot behind. —litre I, D. C, 8.0. Whisky is generally considered a highly In* flammable material, but it la sometimes useful as a llabcook Extinguisher. Minister Washburns and his brother, tho Gen eral from Minnesota, aro about to make a tour of Egypt aud Turkey for throe months. Tickets to the funeral of Dojazot. the famous French actress, wore issued without limit, and, though the capacity of the church was 4,500, thousands were mmblo to gain admittance. Mias Wilholroina Townrond, aged 10, dropped dead wUlo dancing nt a oocial party in Chelsea, Mass., *flt Thursday night. This is an awful warning against dropping dead, if you cm help it. There is a loud call for Maguire, the mao who stooped to appropriate (ho namo of the Sunday Lecture Society, to como .forward and confess himself. Cannot Macuirff bo goaded m desper ation to defend himself ? Tbe Kow York herald publishes In fsc-similo the dispatch altrlouted to Goo. Babcock, sent from Washington as a warning to the St. Louts Whisky Ring, aud signed " Sylph.” Persona acquainted with Gen. Babcock's band writing can judge by this means whether ho is gnllty or not. TbeTlchborno Claimant, sloco bis oonflaomeat In prisen, has been reduced from 232 to 120 pounds, and ho looks as if he ‘had not washed Ids face for six weeks. Dr. Kenoaly publishes theso pathetic statements with tho manifest purpose of making sympathy for tho prisoner. Tho St. Louis Times, noticing os-Senator Car pontoi's throat of euoiog Tub TnuiUNß for libel, sa.is: "It is always tho truth that hurt«." By tbe way, Mr. Carpenter 'never sued any of tho. newspapers which repeated the Long Branch scandal, tboogb be several limes threatened to do so. Titlens has recovered from hor rocont serero Illness, and Is adyortiaod to sing lu Baltimore to-morrow night. A card from an eminent phy sician, published in the New York Jltrald, test!- flea to her physical incapacity to fulfill recent engagements, and to her complete restoration to health. The Providence Joumtif thinks Mr. William Winter's poem, read at the dedication of the Poo monument, is “uoimpaßeed by any elegiac poem In the language " for “ exquisite truth and tenderness of feeling." The New York Tribune, to which Mr. Winter is attached, reprints the testimonial. Mr. John Brougham, happening to be seated by the eldo of Coroner Connery, of New York, and feeling thirsty, said to that gentleman, “Wftat will you drink?" “A little claiet," re sponded bis friend. "Claret!" exclaimed Mr. Brougham, "Claret for a Coroner] Why, there's no body in that T* A gentleman once called on the late Mr. Aator to solicit a donation for a charitable purpose, lie gate gO. " Why, Mr. Aator," said the solic itor, "how la it you give so little? Your aon John Jacob gave uagWO." ."Well," replied the old man, "He could afford it. He has a rich father aud I haven't." The Oraphio retracts the statement to which It once give currency, that the New York Nation was to pass into the bands of Mr. Uarnnm and be used as a programme in the Hippodrome. The rumor, it appsars, effected the ImMnesn unfavorably, and all of Mr. effects have neon sold out under the himta.r. Tho story of TVodore Wachtol's life | lajt uiiViko tbit of "The Postilion of Lnujitmein* which was written fur him, and in which bt made bin Aral tbnMnct imore«sion Iwenty-ie,,, years ago. Wactml was a coachman orgroou oripit allv, and was educated by ngantleman accidentally honnl ids voice. 110 left his wife, who nan an illiterate woman, and manUi a ladr of rank but no great fortune. A remarkably clever review of Browning’s poem, "Tbo Inn Album,” appears In dm York Tribune. It Is done in verse, and s|g Q9 J "T,” which may aland for Btvard Taylor. Thi stylo In a pood imitation of Dviwuing. The viewer thinks the title of the po im might &s « Q |j Imvo been "The Hotel Register” as ** Tho | n!l Album,' 1 and he soema to be a Utile dubious M to whether Browning’s verse baa any isqm la The gloomy play, "Rone Michel,” which U having a great success at (he Union Squats Thu. tre in Now Yoik. will not, Mrs. Burnham (blah reduce the number of suicides in tbia soMimol business depression and suffering. A report o| a suicide headed “ A Man Kills Himself B acMM JIo Couldn’t Support Ills Family” wasrecomt* rend in tier hearing, and n email bov filioitoaiU remarked: "What a fool I Why didn’t ha kill bio family?" Much bolter do eo, perhaps, lUta to leave them to sUrvo alone. Mr. Kerr, tho now. Speaker, Is a tall, ataieit mnn, more than C feet in height, hroad-akoul. dcrod, with a head well poised, a full gruwtb o| blown hair, aud eyes that seem to teal through at a glance, His scholarship Is of th» highest ordor; hooks aro bis dearest conptQ. ions, and bin judgment of men is keen and <Ji*- criminating. Tho mau Is wholly practical These la uo element of humor or tomaucoatoni him, and his manners aro dignified almost to auatoclvy. Ho Is IT years old. Charles Francis Adams would have bean chosen Centennial Orator, Instead of Mr. Ev»rti had it not been for tho virulent hostility of D:' Loring. of whom tho Nov: York 2Wt«n« r* marks: "All tho poison of his vapid naluti s?ems to have boon drawn out bv (bo political antagonisms of tho last two or tbm yeari | 0 Massachusetts, nnd under its workings ho bu achieved the most cotiKpiouous act of bis llfo. 110 has prevented tho selection of Cbariti Francis Adams as tho Orator of tbs ContaoniiL and he deserves the credit of hU suoasts.” HOTEL ARRIVALS. Pit'mrr Uoune—J. 11. Holman, Indlinspolfi: T ff Puoll, Milwaukee; El Coato*; Now York: A. 0 Cook Lowell; J. A. lioyJ, 1). h O. It. It.; (j. u a'oxlin! Columbus, O, J T. D. Douglass, Hartford; J, B. BicC nvdion, Utica; L. A. Hull, TIIRII, 0.; E. H, Colntn. Now York; IMI. Kotcbim, 8-iglnaw; P. a. oUddia CloveUml; 0. PJerco, Grand Riplds; O. A. UHUid! Louiftvlil«....G’rani /’a (d-—>ll. 8. Durant, Ridnit •I. W. Little, New York; W. W. Moorland, Cmd* M. E. Fuller, and John A. Johnson, Midlson; F. Mj Hiii.ooil, Dei Moines ; W. 0. Van Horn. LaCrosis: w 11. Uoitrlll, Ml.wjukeo ; J. B, Millar. Dei Molnei; p E. BmJ*bukcr, Bmilb Dead ; J. H, Parsons, lUrtfore! Henry Ham. Ohio; 11. 1). Li Trobc, Louisville; E.P, Kocd, Ciudmmll; N. Guilford, Baltimore; Jimes Mix, Kankikoo. ...Tremout Haute—J, O. Duffer,C[n. Hmiatl s T. J. Aiideriou, A. T. It 8. P. It. R. ; E. P. Gallup, luditmipoila; L. H. Abbey, New York; D, E, DAvenport, New York; T, D. Camming*, Bih tltnoro; IT. C. BarnabeO and troupe: the Hon. John W. Carey; Milwaukee; tht Hon. H. U.irnes, Nevada; J, fl, Putnam, Boitoa: D. M. Kendrick, Paris; F. F. Aden, 91. Louie; 6. M. Rowe. Riicrld n, III.; W. Gilo, Sluron, tVie....SAir. iwm lieu. J. T. Kingsbury, Mdwauku; George 11. Harlow, bocrolery of State, DJIooli; J. Hill, Superintendent Pun Handle Railroad; A. 0, Courleu, New York; M. A. OlidJlne, Ne* York; Hi* lion. U. D, Hopkins, Peoria; E, H. Tood, Winona, Mlun.; R. Foleom, Cincinnati! Oil. M. 11. Hu-b, Buffalo; the Hon. U. D, Dement, Dixon, lit.; N, 0. Warner, Rockford; U. 0, Eerie*, Colorado; tbo Hon. U. Hay, Pennsylvania; A. J. T/iveJny, Jacksonville.... Vnrdner HeuK—E. Tt, Davison. Kentucky; A. Hiller, Now York; Mr. ml Mm. Jerome, Augueta; W. IT, Pope, Watertown, N, Y.; W. F. looker, Milwaukee. OUlt ttAVY, Secretary Roboaon’a Report* Washington, D. C., Dco. o.—Secretary BoW son's report of tbn naval service for tbe year shone that tho namhor of vessels of every clue and doi*crtDt;ou now borno on tho navy reginUf is 117, carrying 1,195 guns, and 15i, 492 tone mm uremont. Of those, many oro sailing vessel* of iittio or no volao as part of tbo efficient force for either tbo ormviog or fighting purpose* of tbo present day. Tbo stoam Teasels as distinguished from Iron-dads and torpodo-ablps, number 95, of which 25 aro tugs. Of tho remainder 33 tie ready for use when required. Our Iroa*clad licet conoiats of 20 veasels, 21 of tbe monitor type, 2 toroodo-abips. and 3 never lauocbod. All tho vosaels (8u) aro available, including 16 Itoa claJe and 2 torpedo-boata. Details aro given of tho opoifttiuus of tho fleet ou each of tbe six stations. Tho Secretary baa tho following to say open THE CONDITIO* or TUI NAVY: It la gratifying to be able to report that tb# navy la now in aoi • • r and mom efficient coo* dition than It liju > c been at any lima aloe* the commencement of your Adm'-nlstiatloo. It ia uot oulr very strong In number and in tba tissues of its ships, but wbat there are of them are io aa good condition aa it ia practicable to keop such materials of war under the various and trying condit.ona to which they are, lu tba nature of tboir »ervice, constantly exposed. A far larger proportion than usual ut out wooden ships are ready for service. Our iron* clad lleet ia offio.oat, our storehouses arefatrlf stocked with ordnance equipments aud supplies, am) wo have on hand a fair supply of the oeat uutanal (or the building and repair of ahipa. The service baa been placed iu th:a state of elllciouoy, comnared with what exialtd a fee years ago, by utilising, except in the caaeol eight sloops built under special appropriation, what could be spared from the current appro* pnatious, and from appropriation* made during the Cuban ometgoucy. und applying those meaoi praoucaliy and steadily toward puitiog what wai worth saving of the navy aa it existed In aa VCBUANBNT GOOD CONDITION aa tho state of tho ships aud means at corn* mand permitted. The wiudom of tbe policy ia, I think. Illustrated br the strength of oar iionllon to day. It would also bo well. I think, if Congress would Afford means to finish at ouos all the repairs of tbe five do’iblo-tur.elod moni. tors, B.noe, when they are finished aceordiug to mcaont design, our • iron-clad fleet would be much more powerful, aud they are, while undergoing repairs. useless for any present purpose, and the process of repelling them out of what can be spared from current appropriations not only cripples the Department in all its otbor operations, bat is of coiuse. verv slow. With these added to it* our iron-clad service wonld, for purposes of defense, present a very substantial barrier to anything which would cross tbs teas aud at* tempt to enter our potte. rouTsiioora navt-taod. Fobtsuodtu, N. 8., Duo. 6.—Orders bats boon received at tho Navy-Yard to Immediately fit for sea the Ticondoroga. THE STEAMER URUGUAY. Her Filibustering Trip to Cuba* New Yoqk, Deo. 6.—C01. Bceida, who com manded the laat expedition to Cube, in the steamer Uruguay, made a report laat evening to the association of the Independence de Cuba. The vessel, he eald, was wholly unfit (or service, and could attain little ow 5 milee an boar. Her supply of coal wae Insufficient, and the provls loan abort. When they reacuod Cuba, nms men wore landed to rooooooiter, bat the place was to dangerous to veasela that it wu impoe* Bible to laud any part of her cargo or any sot' diets. Meanwhile, the Sparilab auibfrUioa bad been informed, and they had to make theuv* moat speed to Jamaica. The armsTurulaoed wore or an inferior qiallty. He blamed the agouti In this city for negligence in fitting ou the vessel. GLAD TO NEAR IT. Svtcvii Uitmuh to Tk* Cktcaat rrikutu. Janesville, 111., Dec. fl.-Tbe JaneavlUs cot ton mill, although only running for six s* oo *"* is unsble to supply the dernsud for its goods, and the proprietors will build ao addition W * b * spring. They manufactured i6,7U0 yards law week on 200 looms. THE ARKANSAS LEGISLATURE. Littl* Room, Ark., Du. d,-Both HooW* « the G.oar.l Awoib], are now boldiq, two a™ three session* per day. Final adjournment takes place on Friday. At Ibo lDon.l election of offlear, Orle.ua Colton Eiob.og, yaatordar, Ml■ ofilcera oeio ra-atactad axo.pt the Vicfrlb-U" dout, Mr. Jobe D. Letltta, be hirinr daolloadl. IS, 1.1. Air, wu alactad Vica-rtaai4a»L