Chicago Daily Tribune Newspaper, February 19, 1873, Page 1

VOLUME 26, e’ DRY GOODS. Monrog, Market aud Franklin-sts, POSITIVE AND PEREMPTORY., Five Hundred Thousand Dallars WORTI OF DRY GOODS, . Carpetings, UPHOLSTERY G00DS At grext and unprecedented bargains, and at lower prices than the same will again Pe offered in this city. Haying determined to soon closa +* our Retail Department, - : ‘we shall, during this week, commencing Monday, Feb, 17, offer the entire halance = ab_a great - 2 reduction, and actually helow the cost of Mannfacturs i Tmportation, FINANCIAL. Tl Manmtacrers NATIONAL BANK OF CHICAGO, iNonesl Corner LaSalle and Monrog-sts. $500,000, 80,000, Acocounts of Merchants, Manufacturers, Corporations, Oapitalists, Banks, and Bank- ers respectfully solicited. IRA HOLMES, President. M.D. B ) Purmnty S DO AN AT Yiso Peesty J. A. HOLMES, Oashier. Stooixs for Sale. Third National Benk. Natlonal Bank of Gommores. Waat Divlsion Ratlway. Ohicago Gas Light and Ooke Co. By MOND & WATSON, 54 Washington-ats .REAYL ESTATE LOANS. T havo {n hand, sums of #3,000, 86, d J? tmmodiata {aveationg. &t SUiFeit. FALohob ArSt-Class proved Chicago property.’ Tam propared to mogatista o R sl i Noltor, Roome 13, T3and 14 Kendail's Building. " . Money to Loan On Bank or othor gond Lacal Slocks, for short or lon o st opor boul.lcommarnlnlflpl r waatod. . . 2 By HAMMOND & WATSON, - B4 Wasliinigtot st «Capital Paid In, Surplus Fund, - - - REAL ESTATE, 2 , Forty Acres. FOR SALH--The handsomost high ground <in Cook Oounty, at Washington Heighta, Benutiful groves; ohoico bearing orchard, 300 trees; two good housos, and outbuild- ings; commands a flne view of Morgan Park and the new College to be erected thero noxt season, only 1-2 milo distant; exoellent water, and always healthy. Very cholce property for country seats and subdivision. ;) O. H, BEOKWITH & CO. To Capitalists. ‘Wo offer for sale Real Estate valued at FIVA .HUNDRED THOUSAND DOL- LABS OR MORH, situated in the north- ‘west part of the oity, WH HAVE OWNED THIS PROPEHRTY OVER THIRTY YHARS, and can afford to sell at o low price and'on long time, by the Acre, Block, or Lot. A& TEROHE. ' $10,000 Cash e Rt po Ay ARk TS (e plleg o the 8t N: 3 3 Tots wantod, Address, i confldonce, oot oo "FACOH 0. MAGY 81 and 83 Olavkat. REMOVALS. REMOV.AT. EALLOCK & WHEELER HAVE REMOVED T0 169 RANDOLPE-ST, uear LaSalls flttles tn aur Now Btare, wo shall ki P i £ bost and Tesgorgatosk of - £°%P UBBER K LEATIER BELTIN, OSE PACKIN, AND ALL KINDS OF Rubber Goods, bo found Wost of Now York, at loss than Lastorn Biicos. Bimd for Brioo Linta, 1ot ot st GENERAL NOTICES. Chicapo, Miilwauke & St. Panl Railway 'The shortent, beat, and safost routo for Mil. waukeo, 8t. Panl, and Minnoapolis, now open for Passonger Trafllo. Trains leave and ar- sive at Union Depot, cornor Oanal and 'West Madison-ats,, as por time table in railway “Tioteia toan oketa to all points for sale at Dopot, and st Ofloo, 37 West Mndison-st. & A.V.H, OARPENTER, Gen’l Ticket & Paas’r Ag't. T. B. OHANDLER, Pass'r & Tloket Ag't., 37 Woat Madison-st, DISSOLUTION NOTICES, DISSOLUTION. h hootng firm of Durkln & Went, Panitaira Tons Sosond-atss anas Bouts Brooms ot s, by vt oonsont f (0 pastos, ditclrd TR S Lo this dato, will bo settiod hy wil the firm, b ARl Ui Gotloptou by biony'amul by hin caley antil farthor nutlce, JOIN DURKIN,’ Uhloago, Fobs 18, JOUN WEST, - EMEBROIDERIES, EMBROIDERIES MARDEL BROTHERS Have just opened the largest asgortment of HAMBURGH Riing and Insertions To be found in the city; offer- ing at less than half the value, to which they cordielly invite attention, State and Harrison-sts., Michigan-av, and_Twenty-second-st ELEVATORS, WATER BALANCE Elevator. ‘We are preparcd to demonstrate to any one, that our Elevators are SAFER than any other. That they run FASTER and very much MORE STEADILY and more qui- etly than any other, That thoy are simple in construction, and there is very little machinery to get out of order and need repairs, and that they can be operated at very much less expense than any other, even if the water is pumped by steam. If connected with an artesian well the cost of operation is NOTHING, as the saving in insurance and wa~ ter tax pays the interest on the cost of the well. ‘We cannot afford to give away the Elevators, but we can prove to any one that our Elevator is better in EVERY RESPECT than any other, and CAN BE RUN FOR NOTHING. This ought to satisfy the most skeptical. . Shall be glad to show the Eleva- tor to any one, and PROVE all we claim. WM. E. HALE & CO., Second story, southeast corner State and Washington-sts, ARTISTIC TAILORING. SPRING, 1873 Our Spring Importations of FINE WOOLLENS for GEN- TLEMEN’S WEAR is being daily received. TEN PER CENT DISCOUNT during the remainder of this month, B Y, IMPORTING TAILOR, 657 Wabash-av. BUSINESS CARDS. “TIMBER. FitzSimons & Connell, + CONTRACTORS AND TIMBER DEALERS, Office, No. 236 South Water-st, We iave on hand n large stook of BRIDGE and BHIP B R i G LI A1 L Gk e ton, whioh we offor 85 low pricot. Timber anwod and pianod (o oxaok slees, and up to elgaiz oot tiondth, dnd prop delared: Timber Yard, Sawmill, aud Planer, corner Wost Twenty.socond aud Union-ste. J. M. W. JONES, STATIONER, PRINTER & BLANK BOOK MANUFACTURER, -nt., L =at., RAISINS. 25,000 Boxes “LAYERS” BAISING Pod a full sasortiont of other grades, such as Doflesas, Tooso Muscatels, London Layers, Soodloss, in m halvos and quarter boxes, Layors, and Quartor Boxos Lay- ers, Packiod by T. McOullough & Sons, Malags, exprossly for this markot. Imported and for ealo by J. W. DOANE & CO. MISCELLANEOTS. ATL EINDS OF BOOKBINDERS NACHINERY BADE OR BUPPLIED BY CULVER, PAGE, HOYNE & CO, 118 & 120 Monroe-st. DESKS éhcnp, at No, 157 West Lake-st. NOW READY. 1. 1, No. 1, of TITE OARRILRS QUARTERLY DXSI}N&B& HbGTOnY, e ruvisod e Borrostod o lothinst. - Prigh AG Dlitsorony co., 7 Fribiang Bniding. BALD HEADS OAN BE COVERLD BY USING MANN'S HAIR LUXUIANT, CHICAGO, WASHINGTON. Report of the Poland Committee on Credit Mobilier. The Anxiously Looked for Document Read to a Crowdod House. The Expulsion of Ames and Brooks Strongly Rec- " ommended, What is Thought of the‘ReportI in Various Political Circles. A Movement Looking to the Ex- pulsion of All Congressmen Implicated. The Vice Presidont Makes a Fur- thor Statement Ahout Nes- bitt’s Gifts, How Pomeroy Thought to Se- cure a Complete White-~ ‘wash. 1 The Kansas Senator Nicely Checkmated by York’s Counsel. Senator Nye, Indignant, Cries * Away with Investigation I Proceedings in Congress Yesterday, Special Despateh to The Chicago Tribune, THE POLAND REPOBT. WasmiNoron, Feb. 18.—Another step in the Credit Mobilior drama was taken to-day, through the submiesion of Judgo Poland's report to tho Houso. Tho Capitol was thropged at an early hour, and by 12 o'clock not only overy feat in the House gallerica was occupied, butall tho doora leading thoreto worofillod by cager soekers aftor the sensational.. Evory membor was in hia seat, and the floor of the Houso was thronged with Senators, ex-Senators, mombers of tho Cabinet, and distinguished visitors from all parts of tho country. Oskes -Ames occupfed ® most comspionous gost in tho ~front row, and while the report was being read, buried bia faco in his hands in tho manner usual to him whilo_testifying before the Invoatigation Committee. Whon tho roports woro unusually hard upon him, he would romove his hands from bhis face, smile in 6 bittor, know- ing sort of & way, ond thon rosume his old ab- stractod air and “position, James Brooks, ema- ciated and pallid, and looking more like a corpsa than a living man, whose fate and character were in joopardy, sat in his accustomed place on the Domocratio sido, and porhaps was tho most noticeable man. in the wholo _oudionco. Ho ~sppeared .to tako notes of the points in tho roport, as if ho wore going to mfl}p His manner was undemonstra- tive, until his particular caso waa roached, whon ho bent forward to listen, as if he did not wish a wordto oscapo Lim, and this air of cagornoss did not dosort him till tho resoluiion, providin, for hig oxpulsion hnd beon read, and the lasi word in tho report finished. Tkon ho sprang to his foot, and although thero were a dozen other upplications for tho floor, n hoaring was gmmed him by the temporsry Oh: an, . 8, Cox, of Now York, who had bcon callod to presido by Spenker Llaine, for the rea- son that the latter was inciuded smong the ro- cipients of stock, and was also under investiga- tion by the Committeo. While Brooks was spenking, although thoro was o gonoral rush of mombers in tho diraction of his scat, yot the silonco was as improssive as whon tho report waa being read, Brooks' voico was pitched somewhnt lowor than nsual, and sounded harsh ond unnatural, Beated immediatoely to his right was Dan Voorhoes, who appeared to aot in the c‘:}’mm of confidentinl advieer and next friond, For fiftcon minutes Brooke devoted himsolf to making two pointa in his defence, which, ha said, the: Committoo had omitted. Theso wore : firat, that no reforonce hod been mado to tho pmceodinf;l in the Bupremo Court of Ponnsylvania against tho Oredit Mobilier, whorein a-full list of the stookholders of tho Company was given, in which his name did not spposs ‘and, sacond, thatao reforoncowas made £0 his votes on the Union Pacifle Railrond aftor ho beoame an alloged atockholder, and whoro ho votod againet thoroad on euch an occssion. In raply, thoss points wore quickly dis: posod " of by Judge Poland, who a8 to the first, asserted that it had boen canaid- ered corefully by the Committeo, and had been incorporated in the body of the ovidence ; and, to tho second, made tha significant remark that, at tho time of tho legislation alluded to, thero were two partice in the Union Pacific Railroad, whoso intereats wero dinmotrically opposito. an that & voto on eithor side was no test of any- thlnf Bave of a preference for a faction. Although thors was a_disposition for a debate from all quarters, Judge Poland finally succoed- ed in haviug the report report referred for print- ing, and haviug next Tucsday sot spart for its consideration, During the nmd.\nfilol the report there was a donth-liko silonce tho House. It would scarcaly bo correot to ssy that the dropping of pin could have beon heard, but it may bo record- cd na n fact, that that tho squeaking of g small pago's boots was a mattor that atiract- od tho attontion of one of tho doorkoopors, and tho offonder against perfeck ordor was duly admonishoed (to conflue himsolf to ono placo, The voice = of Xdward MoPhorson, not vory strong at bost, ponetrated to the utmost reccsscs of the gallories, Thoro was an almost painful eagornosn to oatoh every word, Mombors whoso Livaring la slightly dofedtive or impaired held their hunds to thoir cars, so that nothing might bo lost. The reportors’ gallery comunnds a swooping viow of the ontire Tiones, From this point it wag intoresting to noto, with tho aid of a glnes, the countenances of the mem- bera. There wore signs of approval and disap- proval, ‘These wore tranelated into worde as soou as the roading of the report was concludod, For all practical purposos the Ilouse might as well havo rocoeded at once to considor and tho roport of the Committee, The immeuse parade which was wado for a desire of time to oxamine and doliberato upon tho printod ovidence and roport, 'was o moro formality, if not a sham. Thore was porbaps not & member on tho floor, whose mind was not made up, and who could not have vated to-day as intelligently as ho will voto next ‘Fues- day, or whenever the provious question s called on tho rasolution, ‘Tha (rodit Mobilier investigation Lias boon the ack on ‘about over. WEDNESDAY, FEBRUARY 19, 1873, ongrossing toplo of lntoroat and dlsoussion since the oponing of tho sossion, and the daily proceedings of the Committeo have boon a8 familiar to tho mombora of tho Houso a8 tho motion to ndjourn, . It may bo safoly asgortod that overy mombor hag dotormined in his own mind first, who should o fnculpated, and who shionld bo ox- onorated. To indulge in & differont supposliion .would bo to do violenco to the Intelligenco of tho Houso, buty, if nny Pmnf of this fact was nooded, it waa sapplied on thofloorof tho Houso, As soon ns tho matter had been disposed of, and Spoakor Blaino hnd assumod the Ohair, tho buez and lwm of convorsation was rosumed with the unwonted onorgy, Mombers rotired in knota to tho cloak-room and iobblos, and tho Sundry Oivil Appropriation bill, which camo u}; noxt, was loft to bo managed by tho mombors of tho ommittoo on Appropria- tions, “Wall, what do you think of thore- port #” was tho common quostion. This form of Interrogatory was nniform from ono end of tho ball to the “other, but tho rosponses woro not alwaya’ the samo, . Thero was, howevor, a wondorful unanimity on ono point, to wit, that tho roport was far from ' boing satisfactory. Thero wero thoso who stigmatizod it as o whito- washing docament, 80 far a8 thoss mombora ara concerned who are oxonoratod, while it was gon- orally votod as sovore and- ono-sided in the caso of Amed and Brooks, Thore wns a gonoral murmur of complaint that no allusion had beon mado to Vice Prosident Colfax, It was_gonorally expooted that tho Qommittes would at lonst presont tho facts on Oolfax's caso, and loavo the disposition of it to tho Houto. livory mombor Lnow tiat tho Houso alone was competent to act npon tho case of the Vice Prosidont, This singular omlssion' is ex- Flnluud to-night, by the fact that tho Committoo 8 not yot through with 3r. Colfex. It ia under- stood ‘tlmt, since his last sppearance before tho Committee,- tho Vico Prosident hss ad- drossod to them a couplo of lottors, which will necessitate 8 wupgom-mw. This {s oxpocted to-morrow. Tho probabilitios aro that in his case they. iill mako o soparato To- port. Tl facts, howovar, woro not gonorally nown to-day, whon tho roport was prosontod to the Houso, and the indignation waa universal, that tho Committeo had failed to alludo to Mr. Colfax, The mombors who were cxonorated by tho Committec’s roport recelved as o mattor of courso tho congratulations of thoir frionds, but their mannor indicated that thoy did nob fool’ thomsolves olearly out of the woods. Mon of tho stamp of Ben. Butlor woro road; for n contest ovor tho roport thon an thoro. Tho * Essox statesman ™ boldly asserted that 1f Amos waa to be éxpolled for bribory, it waa 6_oclear rfiwm osition that' somebody muat Tinvo boon bribod. Ho asid ho mado no Ghargos, but ho would loavoe it to any man “with ordina) common sense, if ho was not_corroct in domuna! ing to kmow who had beon bribod. On the Dom- ocratio sido of - the Houso, tho feoling was, if onaiblo, moro intonso agioat tho roport. Tho loading Domocrats stated that while they woro willing fo vote for tho expulsion of Amos and Brooks, they did not propogo to whitowash mon who wore equally, guilty. ~Had a voto boen taken to-doy on tho resolutions submittod b{ the Committeo, there is no quos- tion but that thoy would have beon dofeated. Asitls, tho probabilltica aro that thoy will bo londed down with amondments, aftor which tho whole matter will be laid npon the table. Itis alroady proposod, whon tho report comes boforo the Houso—this comes from a prominent Domo- cratio sourco—to smend the resolution to expol Ames and Brooks 80 a4 to {nclude all the namos montionod s racelving Credit Mobllier stook, and Georgu 'W. Morgan, of Ohio, is also of tho opinfon that Sehuylor olfax is 80 far implicatod that a rosolution of impeachment is domandod in his case. K THE YOMEROY OASE. fi;&lnnd o temporary victory, this mnrn]ng, n the decision or tho Frolinghuyson, Committeo, that the torms of tho resolution* undor which they aro acting provented them from_inquiring about any acousations sgainst! tho ‘Kansos Sonator, -excopt tho speciflc ones ! made by Sonator York, When the opinion was. rond, Pomeroy's friends were elated. Thero could, ‘in the nature of tho caso, bo no witnesses to tho Pomeroy transaction with York, and tho | ‘whole ehlrgn would rost n‘pan the lattor's word. Aguinst this would bo placed tho Senator's do~ nial undor onth, and suzlpined by o host of wit- nesscs to bo introduced to prove York a most consummate scoundrel not ‘| any ojrcumstances. Those poople thought thoy #aty oloar sailing dirgetly to & cont of whitewash o thick, that, when Pomaroy Went back to Kan- Pomero; 808 at tho closo of the sfiuion.ihu ll;umt ;x;h‘:u‘]s gflffignu rotain & less m O ohook Euotr Bends. | intorcst, ond loaning 16 with ntoroet, would not know him. Pomoroy doos not abound, shook their and muttored somothing about Tho sly fox ;" 4¢Who drow the resolution nsking that his own cago bo invostipated 2" ¢ Wonder it any orim- inal wouldn't like to draw the bill of indictment on which ho isto bo tried?” asked another. # Onlob Onshing was not omployed for noth- ing,” unid - anothor, and the genoral im- protsion was that -the investigation All tho timo Pomeroy and his counscl profossed_to make no abjootion to tho introduction of further tostimony. “One wit- ness was oxamined. Littlo that was now was olivited, and the Committeo adjourned till to- morrow, Everything was lovoly. Tho Com- mitteo would not itself ask to havo its jurisdic- tion enlarged. Pomeroy would not, of courgo, snd no Benator would bo likel; to volunfeor® mythlng of the kind, but the opinion of the Commiiteo contained an unlucky hint. It was that the zight of potition was open to all citizons who Gtelzod the inquity to bo oxtendod, and. tho Bone ate would rubni’}l'fl %iva ‘any potition on the snb- jock attention. That hint was enough for York ond his counsel, and' late in tho ‘aftornoon a potltion was prosented from Bimpson, aoking that tho mombers of o tho Konens Logislature .- nmow horo _bo summoned pnd be allowed to testify regarding the offoring of; bribes to them by tho frionds of Pomaroy. At this soveral Senators scomed to bave lost the disoretion that has marked their actlon_during most of tho presont scssion, and thoy allowed thomselvea to bo carried away by that intonso partisnn feoling that was 60 often witnessod & yesr ago, and which hurts tho couso, They ndvocate much'more than any- thing their oppononta eny. Bhorman wished tho " potition roforred” to tho Commttoe. lelnghulvion did not o[{zpono in words the ox- tenslon of jurisdioction of his Committce, but allowed the impression to go outnnd did not correot it, that all tho witnossos must bo sent for, and not that thoy were alroady hore, 8o that was |" 8700,000,000 nios agroo to furnish a like sum for support of tho proposod now lino. DANK TAXES, Mr, Morrill (Vi) roported back adversely .| from tho Benate Commitico on Financo the po- titlona signed by a great number of the bankora and morchnnts of the country for the romoval of all taxos on Stato and National Banks, Boforo discussing tho tuestions in- volvod, tho Commitlco call attention to o practico of recont growth, cnloulated, it is to bb fonrod, - to impalr tho wolght and valuo of otitionu, whiol arc, or ought to bo, recolved s 1o snored prayor and unbiased judgmont of tho paoplo, Most of tho potitions t:fiwnr in a bulky and imposing form, printod ud fndorsed in the Bnmo tyro, sliowing that an organized mothod of mulliplying potitions s beon rosorted to by firat manufacturing blanks, whioh, upon boing sont out, glve perhaps tho firet notico of griovancos to thoso, whoso signa- tures have been golicited and obtained. tho potitions‘in this cnso rofor to the hordships im- posed on the National Albany Exchango Banl, and in rogard to it, tbo Committoo says, it np- ears by tho oxport. of tho Compiroller'of tho urroncy, that tho beuk has o capital of £800,000, 'and that aftor paying all diyidonds as woll ns' taxos, hao o surplus fund of $100,000 and undivided profits amounting to 246,229, somi-annual dividond. Ilore aro accu- mulated profits of nonrly 60 por cout on tho orlg: inal capital, Suroly such oppression may wo! bo born by tho stockhalders with tolerablo com- plncency,” Tho roport continues: The petition~ ot nak, as morchants, to havo all tho Stato and National ~DBavks roloased from taxation on tholr _ oapital circalation ' and doposits and represont that this may bo done without auy dotriment to the necensary wants of tho Governmont, but this roprosenta- tion is at onco. rofuted by tho latter monthly statomeonts of tho Seoretary of the Trensury, which show an increnac of tho National dobt by rovenue, in consequenco of the gonoral ro- uction in tnxos mado by Congross in tho act of 187, aud therofore it is not true that it can bo dono now without detriment to the nec- cegary wants of the Govornment. After ahow- Ing that this tax is o just and proper ono from ‘which to dorive National revenue, tho Committeo conslder in tho threo toxes now imposod on. banks. Thoy say tho apnnal tox on capital is Lalf of 1 por cont, or 5 mills on the dollar. 8 would bo 5,000.on & bank of +$1,000,000, or €500-on o bank of $100,000 capital. Istlistmuch? On tho contrary, it is modorato, and especially it is modarate 80 lon, a4 & conslderablo gharo of, tho bonds dopositod, with tho Trossurer of tho United States ‘ag socurlty romaina of tho omrly class, and old ~ to the banlks intorest at ho gemi-annunl rate of 6 por cont, instead of any lowor rato, With rogard to the tax of 1 por cont on ciroulation, tho Commitiee nsl if it is onerous, and whothor thoy wonld not like moro circulation on tho ssmo torms? With tho ox- ception of tho requirod reserve, smount- ns to 26 por cont on banks in the redomption cities, and 16 per cont olaewliere, all of thelr circulation mny bo used in the same manner, and wit4 tho snmo profit ns 80 much nctusl capital, 1f three-quortors of s ciroulation should bo loanod ot 6 per cont only, it would smount to 4% por cont on tho wholo circulation, from which, - deducting tho tax of por cont thereon, & clear E‘rum of 8)¢ por cont must bo realized. ‘ha report of the Comptrollor of Carroncy shows, tho Committoe continues, that tho lona of tho bank have jnoreasod with the last yoar over 200,000,000, whilo thoir resources aro less in Dnited Statos bonds_ by the sum of §900,000 ; less in lawful monoy by tho sum of 814,000,000, and lans in specie by'tho sum of $3,500,000. Thia disclogos the painful fact that the Nat{onal g institutions havo ontiro conil- donco that Congross will not soom, it over, losd ~ tho way to tho resumption of specie paymont, from which we are so_npparently annually and stosdily recod- ing. Even whon tho bauk oirculation shall bo, if over, regularly rodeomed in coin, or itd oquiv- alont, 'tho annual tax on clrculation of 1 por cont will mot bo too muck, and whilo it is not redoomed, tho banks reaping all the bonefits, but rocolving o othor equivalant, this tax ma be fairly rackonod as disproportionately small. On tho lnst tax tho Committoo commont as fol- ows: Thon - tho tax on -dopasits, tho |last in tho eories, is to Dbo conm- sidered, ond this is added ab half 0 be boliovod underé| of 1 per cont on tho average amount of such'de- osits, Sound banks raroly pay any interest on oposits, and usnally find it aafo to loan at lenst two-thirds of the avorage amount so hold, and 1 iu, when call loans can be This in rexlly borrowing monoy without o sound credit of banks, based upon thoir fran- . chiee, their capital, and upon the national bonds iven for tho ultimnto seourity of tho bill- ! holdors, onnbles them to roalizo greater profita from Qeposits than ovon from ciroulation. ~'The smount rocolved and hold on-doposit by tho banks oxcoeds or considorably more than tha . amount of their capital. Itis from this sourco thnt tho bost part of thoir profits acorue, and v thoir dopositors, by tho issuo of thelr individual L chooks, which ‘aro rocoived, wherover known, jupon 'on ontiro oquality with tho cur- ronoy, actually furnisl’ an additional ) papor circulation, probably largor in [ amount than that authorizod in the form of bank 'notes. Tho Committec thoreforo conclude that thoro does not ng%unr any good renson why tho ‘bunks should not be reqiiired to pay, and whi | tho National Government should sbandon suol o tax, Tho following aro somo of tho closing parographs of to roport : Teois mot ovon protondod that banki iand bankers aro mot rocolving amplo {profits from their businss, and, if thoy ad beon, tho returng by the Comptraller of tho *Curronoy, showing dividonds avoraging a frac- 'tion over 10 per cont for several yoars past, with ‘a constantly inerunaln? surplus, would have refuted tho prolenco, It is° very cloar, whilo tho Notional Banks can loan 1all their capital, two-thirds of thoir doposits, and »a1l of thoir olrcilation, oxcopt their resorvo, that tho business of banking noed not bo unroiun- erative, Tho taxos sought to b ropoaled on tho copital, ~ doposits, and ociroulalion of -Btato banks and bonkers yielded for 'tho flacal yoar - onded Juno 80, 1873, 810,202,014, The cstimatod decrcase on account of deductions mnde by an act of Juno 6, 1873, are $8,250,000. Thoro will romain an os- tlmated yoarly iucome of about 86,000,000 poid by “tho Natiopnl Bauks, directly to +tho ‘Troasuror, It will bo &oon, thoo would nob bo timo to make this_additional inquiry, Nye and Conlling woro almost bosido themsolves with rage. They donounced York, snd _called him the huardest namos thoy could think of, aund -denounced tho ‘wholo systom of investigation_ that haa kopt tho country in such o state of oxcitemont all wintor. Terry, of Connectiout, and Bcott wore tho only Administration Ropublicans who tool part in the debate, and who saw how damaging it would bo not. onlg to tho Benate, but to Pomeroy, to al- 1ow even tho appearanceof nnppreualnxuvfdunuu. Both of those Senntors made atrong spocches in favor of the rosolutfon introduced by tho former, ond finally, with tho aid of Thurman and Tipten, won such a victory that the jurlsdiction of the Committee was oxtonded without & division. FINANOIAL. The Sonate Tinanco Committeo, to-day, agrood to and reported for passage, Bonator Cor- ‘bott's bill smondatory of tho Ourrency nct. It is deomed & monsuro of considorablo importance, and is strongly favored by mombors of the Fi- nanco Committos,and by members of tho Housa of Roprosontatives, who have glven their attention to lits gxmvlulona. By Mr. Corbott's bill, Bection 20 of tho act to provide a Nationalourronoy, eto., is amendod vo a8 to provido that the total lfabili* tios to any assooiation of any persons, or any ‘person, or of any company, amTamtxon or firm for money borrowed, including in tho lisbilities of acompany or firm for monoy borrowed, tho linbilitios of tho eoveral members theroof, ehall ot no time oxoesd one-tonth part of the amount or the oapital stock of such aeso- ciation actually paid in, and the surplus profit, proyided that tho discount of bona fide bills of oxchange drawn againet existing vafues and the digcount of commeoroinl or business papor ac- tually owned by the {mmon or porsons, Corporas tion, or firm nogotiating the samo shafl not bo ocouslderod a8 money borrowed. This bill will doubtlesy bocomo a low at this seasion. PACIFIO MAILS, Privato telegrams revelved hero from Bydnoey, aud corroboratod by the pross_despatchos from Melbourue, indicato that tho English and Colo~ nial Conference, recontly in session in Australls, hias decidod to place & Britial line of stoamships on the Paoiflo, from Austealin to Bau Frauolsco, in opsualllon to the Amorican, or Wobb line, tho Conferonce deoiding that tho Amorioan is for tho transmlis- sion of wnnils between Europe osnd Aus- lia, Thoe English Governmeunt guarantees & subsidy of 8300.000 por annum, aud tho Colo- the most desirablo "thorofore, that the total smount i which it is aslkod to have surrendered is $9,800,~ 1000, or nearly $10,000,000. This may not appoar Inrge sum to tho banks and bankors, but 1t ia »much largor than can now be woll spared for any purposo from the Treasury. o petitionora aldo refer to the question of refund- ing taxes on dividonds, intorost, and profits, earned or added to tho surplus of the corpora~ tlons during tho lwst four months of the yoar 1870, but tho Committeo rofrain sfrom exprossing any opinion, furthor than to eay if all the schemes for refunding taxes, levied duxln[; the hard nocossitics of tho recent war, woro Lo be favorably considered, frosh war taxen would at onco have to bo ngain ruu?'rlnd to or tho Trossury would bocomo bink- rupt. ANOTHER GTUNNING DLOW. ‘Tho lnst mmnlnlnf 'Yl'o%wblch supported the falling roputation of Vico Prosident Colfax was to-day knocked out, and the damngod mass was ruulBfln!ud to the ground. Tho story of tho ico Presidont, rolated with such apparent cir- cumstantial dotall, in rogard to_the receipt of a thoutand dollar noto from a Government con- traotor nomed Nesbitt, of New York, who was_doseribed by Mr, Colfax as eu_almoot total strauger, was sufliciont to causo a doubt in tho minds of his most credulous frionds about his guilt, and they wero quick {o glve him the Doneflt of tho doy’t. Had tho mafter stoppsd loro, there would Liave been o vory large body of poople in the country who would havo rogarded ho Vice President “as an objost of misfortune andill-luck, butnot na a continuously uutruthtul, dishonost man. Tho dovolopmonts just mado scens to sottlo tho point finally that Mr, Colfax is no longor worthy of the affectionnto rogard aud rospect which "havo beon Invished on him for so many yoars. The bank where his_ nc- countd woro kopt Las boon visitad latoly by a miember of the Polaud Committoe, and tho record of two ohecks, or drafts, way discovered to the ordor_of Mr, Colfax from Mr. Nesbitt; the rocord shows that one was deposited in April, tho othor on tho 13th of July, 1868, The do- Enult of $1,200 in bills, by Myr Colfax, on the 24 of July, was oxplained Ky him in bis stato- ment lataly'na boing tho rosnlt, to the amount of 81,000, of & prosent from Nosbitt, roceived by mail, Whilo it looked a littlo unusual for » busincss man of Nosbitt's exporienco and sagacity to_send a $1,000 bill by mall to a high oftleial " without lotting his clorks, partuer, Dankor, or some friond know of it, and whilo it way rogarded as etill moro romarkablo that & statosman of Mr, Colfax’s atanding would accept & progont from a business man hay- ing donlings with tho Government, yotin tho faco of ol this thore wore many who rogarded the Vico Prosidont as guiltloss of doliborato falaohood aa of bribory, notwithatanding tho ab- sonco of both tho letter of transmitialand the Iottor of noknowlodgomont. It will be romem- bored that Oakes 08, cheok to 8. 0. wan daied July 20; was prosonted to ond paid 0 Sorgosnt-al-Arms on by th 1o 313, and thit Mr, Colfx: mado s dopostt of 1,200 I bills on tho 22d of July, Onkos Ames' momorandum boole showad to tho Committes that £1,200 was paid, and all {he clroumstances sustainod his statoments 3 yot Mr. Colfax testi- {led that b got 31,000 of 'ho 81,200 from Mr. Nesbitt. 1t now appoars ‘st fn April, throo months provionsly, he received 1,000 from Nosbitt in a ohook or draft, and shat, on tho 18th of -duly, or In-loss than throo wecks aftor tho allogod recoipt by Colfax of 1,000 in money by Tottor, ho rocolyed anothor oheck for$1,000 from Mz, Nosbitt. This shows, i Colfax’s thousand- dollar-bill atory is bolioved, that ho ro- colvod from this contractor, 'who was very Intgoly ongaged in supplyiug atatlonory to iho Govornment, and who was an_almost total dtrangor, in thres months timo, tho sum of 48,000, or o tho rato of §1,000 o month, It also sligus that Noabits sont o honsand-dollar dratt o third, sont it rocklessly by mail in tho form of o bl ito loiker accompanying it, sajlng that o was not much acquainted with ihe’ Vico Presi- dont, but had o gmnt admiration for him, This i not tho sort of lottor that would bo writton ofter. §1,000 hnd . nlrendy beon fonb bo added to L3 aamo man. '0 addod to all this acoumulation, Mr, Colfax, last ovoning, addrostiod a lotter to the Poland Com- mittoo, stating that, in his tostimony on Tucs- day, ho had ontiroly forgotton to montion that Do recolvod » 31,000 droft from Mr. Nosbitt on July 13, in nddition to his $1,000 contribution proviously mentionod. 'All this {s lookod on horo ovon now, whon bnd momory sud_ovasion aro buving s carnival in tho Capitol, with amnzo- mont, the moro 8o that Colfax, whén tho_invos- tigation bogan, enid o was confident ho did not Tocoive tho 81,200 at tho timo nofed, sinco such . an addition to' his incomo could not fail toim- ‘pross itsolf on his mind. " TUE LOUISBLANA OASE. Tho Sonate Committee on Priviloges and Elec- tions will report on the Louisiana investiga- tian on Thursdsy. Long roports have beon repared by Mr, Morton and by Mr, Carpentor, - but which gontleman will make' tho majority re~ port ia_withhold from tho public. It is undors stood that Morton's report will tako the ground that tho defacto, or Kollcgg, Govornmont, ia logitimate, snd ought to bo rocolg- nized, whilo ' Carponter's report will hold that ' ‘thora i8 no logal Govornmont in Louisiana, and that a new elegtion for Btato officors is ‘necossary. It is belioved that tho, Committes aro & unit in the position that thero Lias boen no legal eloction for United Statos Sonator in placo of Kellogg. THE 00MMITTERS in both tho Senato and_ Honso, in consequonco of tho moar spproach of ndjoutmmont aro doing littlo worl, and it is becoming difficult to obtain & quorum, TIE MOBMON BILL was considored by tho Houso Judicimy Commit- {00 this morning, and o session of tho Committco was hold to-night for the samo purpogo, Tho Banking and Currency Committoe have appointed Mogsrs. Morriam, Farwell, and Dox og & sub-committeo to inquire into the l:gnllty of the issue, by Asslstant Bocrot Richardson, Tast Octobor, of tho 844,000,000 rowerva groonhacks, which issno wa Approvod by Sco- Tovury Boutwoll in his lotter to the Hougo, on tho grounds of publio policy, but which was latc- 1y condomned by the Financo Committen of tho Bonato in an ably-written report. [Totho Associated Press.] APPROVED, WasmINGTON, Fob, 18,—Tho President has approved the not providing for tho erection of o publio_bullding for the us0 of tho Government at Covinglon, Ky. NOMINATION, . Tho Presidont sent the following nomination to tho Sonato to-duy : David D, Bmith, Suporvising Inspoctor General of Stcamboala, D 1 CORTRADIOTED, 1t 4s ancerlalnod definitoly that thers is no founds- tion for the recent report that Secrotary - Boutwell has tenderod bioresignation, i BEOEPTION OF TIIE FAYTIEN MINISTED, To-l07, Btephen Preston, who, for somo time past, hua boon acercditod to this Government as 3inistor Tioaldent of Hayti, wes prosented to_tho Prosidont by iho Becretary of State, and delivercd his credentials as Envoy Extraordinary and Minister Plenipotentiary of oyt . Tho usual formalities were obsorved. . MELYs, DODOE T 4 co. ; Tho proposal of Tlclpé, Dodgo & G, totho Treasury Dopartmont to pay $371,000 in licu of dutics unpai was made on condition that thiey b relioved from all claims of (1o Government on thotn, bocauss for allsged frauds or otherwise, for tho post ive yesrs, Thia roponition the Govérnment will accspton condition that tho firm shall be relioyed only from such viol~ 4iona of tho Rovonuo law aa hove beon covered by tho roporls of tho ofiicora who have had fhe present ln- vostigation in charge, FilE BOENE IN THE HOUSE, The reading of no doctiment was ovor listened to with moro infereat thon waa ihie roport of tho Poland Gommilice. Oskes Amea occopiod a front seaty and stood the concentrafed gazo With apparont calmness, whilo” Brooks, omaciated and pallid from sickuess, presorved his sclf-posscssion, Tho othes membors; Whoso names aro_montioned {n the toport, showed signs of deep feling, ond seomed, toexperioanco a senso of rollaf when the reading of (o portions cone cerning them wos complotod. WHAT AMES BAYS, Axmes, after lio loft tho Houso, remarked toa friond {1iat hio 'was not conaclous of Naving committed any Wwrong for which Lo should bo biamed. Much comment fs ovorywhoro mado concorning tho character of tho roport, WILAT TILE DEMOORATS WILL DO 1t can bo etatod, on the authority of several promi- ‘nont Domocrals, that when the roport shall bo taken up for considoration soparate resolutions will be jntro- duced for tho oxpulalon of alt tho members who hnd doalings with Amos on tho ground it Amea and ‘Brooks only; should not have boon sslected for punish £ mont, Many gentlemen on both aldcs aro preparin specches, ond it Is antictpated there will bo an oxcl debate of Tusaday, to which timo tho considcration of thio roport has boex postponcd. No ono balievos tho nnumflluy YO0 of bwe ds for expulsion can be 5o~ cured, S B CREDIT MOBILIER. TJIE POLAND COMMITTEE, JUDGE POLAND'S NEFORT, WasniNGTON, Feb, 18—Tho Speolal Gredit Mobilier Committoo of the Houso submitted their roport to the Hoto to~day, After quoting the resolution under which thoy were appolntod and acted, tho Commitleo gave a hisfory of tho connectlons of the Oredit Mobilior Company with {hio Union Pacific Rallroad, sud the Hoxle and Ames ‘contracts, the facts in contleotion with which have becn horotoforo publlshed, “The Comnitico then rubearsa {lio prososdiags of . Ames in placing somo of Lo stook af tho Orodit Mobilier, and tho difforent tles wlilch ' sroso_botweon him, Durant, and A'Comb, Trior to the oaston of Docember, 1867, Ames had bod no nogotiationa with Gongressmon 'oxcopt Scofleld, The Gonumiiteo esy they cannot entortain any doubt as tothio motive and purposo of Amea in contrgoting to lot Congrossmon have Crodit Mobiller stock at par when 1t was worlh doublo thot sum, Ho desized o enlist strougth and frionds in Congress to restst any encroachments upon tho rights and privie Jegca already soouted, and his purposo to crosto in thom sn {ntorest identical with his*own, is clearly avowod In his leitors to M'Comb, espocially’in those iix which ho says Lo intonds “ placing stock whore it would do most good,” and, ** Wo want moro friends In Congress.” Anothor letter gives tho philosophy of his action, wheraho ssya ho hea found no alfliculty in got- ting mon to look after their own property. The Com- nitteo aro satisfled Ames feared, whon tho great profita bocatne knowu, that thero would bo danger of Oon- gresstonal inviatigation, Thoso with whom bLe dealt lio did not foar any hostile logislation from, and tho Gommittod belloyo Ammse spoclally deslgmed Lo acours tho defeat of tho efforts of tho Washburnea of Wisoonsin and_Illinols to regulate trausportation ovar tho PacifioRoad and other measures, and thoy auoto a reforence of Ames to Washburno in ono of Lis lottors in support of this beliof, In taking tho evidonce tho nomes of Bonators were inyolved, sud their casea wero invostigated, und that ovidenco huving been sont by the Louso o tho Bonate, {his Committeo conefulor tholr duty aa to tho_Scnators fully porformed, The Committon do not deem it their duty to mako any special finding aa (o thoso not morm- borsof the &mum Oongreas, leaving the fscts for tha Housa aud the country Lo Jildgo pon th- evidonco. Iu rogard to tho membera ‘of tho prosent House, ha CGommitteo proceod 1o atato specially tho facts proved Ly e uvidenco, whiol fu sono instances 18 Dalufuly conflicting, Loy 8 Speakar Diaiue did nottako any stock, ol recommonded fo by Ama, Dawea recolved no other- bonotfroin hfs traus action with Ames than 10 por cont upon his monoy, und, after sottling with Ames, had 1o further interes! in tho tock, Tho evidonoo relative to Suhofield fs roliesrsiod also, showing also that Schoflold gavo up his Credit Mobil: fer, but Totained $1,000in _Union Pacifio, Tho prectss toring of tho seftlemmont are unknown from data, but sluco the sottlemout Hchofield has had torest in tho Credit Aobillor, Dinghany's conuection with tho mattor was_seltlod by Anien volaluiig 1o thirly ubares of Oredli Mobllior sfock, and accounting to Blugltam for such dividend upon it ns Dingham Lind not slready rocefved, Llug~ was troated as tlio roal owner ,of the siock from thu (ime of tho sgresment, late in' Docember, 1867, to {hio aottlomont in February, 147, and had tho_ beneflt of all dividends upon it, Qihmmr, ‘Ames nor Binghsm liad wuch records of their dealing as to be ablo to give thio prociso amount of those dividbnds, Tho Commlites find that Kelley, of Ponnsylvania, (Continued on the Fighth Pago.) ick of 10 fu- Mr. Colfax on two occasions, and yot, on o | | carbo_loade 1§ i _ The Chicage Daily Teibune, 93¢ NUMBER 184, RAILWAY CHARGES. XX Lmswal, Alation of Fares and Freights by Law. Fourth Aunual Report: of the Railway Commissioners of Massachusetts, From tho Fourth Annual Roport of the Rail- ‘way Commissionors of Maseachusotts, just sub- mitted to tho Logislaturc of that Btato, wo ex- tract the following, relating to DEGULATIONS OF FARES AND FREIGIITS DY LAW. - By Chaptor 68 of tho Resolvos of 1872, this Board was directed ¢ to considor the subjoot of Togulating railrond fores oud freights by law, and roport in tho form of a bili or othorwise on tho first week of tho noxt Logislaturo." . This quostion was disousscd at_some length in the Jaat annual report of the Board (Third Aunual Report, pp. 170—4%, Sinco that roport was made, the wholo subject has boon most enoroughiziu\mugmdb n_joint solect Com- mitteo of both Housosof tho British Parliament, and the ovidenco and documonts submitted to that Committoo, and its own conclusions thore- on, linyo beon publishod in & ' Bluo Book ™ of moro than 1,000 folio pages. In variousof the Stato Leglelaturca of this country, also, meas- uros have been brought forward, of which coples havo beon transmittod to this Board, all of which Do olosoly on tho mattor roforred to in tho foregoing resolve, Mhere is, indoed, no ques- tion connaoted with railroad logislation which has oconsioned during the last forty yoars so much discussion or 5o many statutc cnactmonts as the attompt £o rogulato fares and frolghts by law, There are now in forco on tho statute books of ‘various countrics lnws of overy concoivable do- soription, from n simplo act, cstublisking charg- @8 50 much per milo for ench travellor or ton of freight carried by rail, to onactments of the most olaborato nature, undor which ronds are clnssified, goods cnumorated, periodical revis- jons provided for, aud differontial, speelal and through-rato tarifls, with distinctions of termi- nal oharges, aro all specifiod in dotail. Tho offorta in this direction have, indeed, boon ay- tomntically pursucd both in this country and In Europo, rom tho first incoption of the railroad Bystom down to tho prosent d"»'fi' In the carlior days of the railroad systom, and eapocially in Amorics, tho scts regulating farcs and froights were very simplo, and_apparontly thoro could be no difficulty in thoir enforcement. Thoy limited charees to so much por milo for ench pnssonger and for each ton of froight; sdopting what is known ns tho oqual-miloage’ yato. Iconomically thero can beno doubt what- over that this lugiahlion was founded on o wrong prinoiple. If tho nmounts paid by the publio are in any dogreo to correspond to cost of tho ° gorvices rondered by the corporations, then tho distance thot o per- son or thing is carriod haa very littlo nocossary connection With tho cost of carriaga, Thia pricoiplo is erfectly vall "established, and hos beon repeatedly dwelt uponin the re- porta of this Board. Its truth can be mnde vory spparont by a aimplo Ulustration. Lynn is ton mlTen from Boston and Chicago is o thousand. An articlo of merchandiso going to the one place or tho other hasto bo recoived, handled, stored, laced on & car and forwsrdod ; on reaching ite Soattnacron it muat bo ualondod, atored, and do- livered to the company, or recoived and unlond- od by the tonsigneo; in either case, tho caris neceesarily subjeot o _delays during which it oarna no freight. Under theso circumstances it 18 vory apparont that_the fixed cost_incurred by railroads in_tho work of transportation,—that coat which is common for all articlos or poraons, 10 matter how long or short & distance they aro carried,—must canstitute s very considorablo art of the whole cost. Bo obvious is this fact, hint. it i8 well known that the corporations onrn largo not profits on thair long busi- ness at o third or quartor of that rafo per mile, which is barely remunerativo on short business. The simplo and obvious fact, that whools earn monoy only whilo thoy are in motion, has con- stant]y boon ' disrogarded by thoso suek!ni to {framo laws reguiating fares nud freights. If a with passongers or goods and startod on o journoy of 3,000 miles, tho wheols of that car aro. steadily earning money for days together, though moving, parhaps, at low ratef ; if, howaver, tho cost of sturting that car, includ: ing the fixed outlay of the corporation in officers, employos, station-buildings, roal ostate, rolling- stack, and road-bed,—nn outlay which i in large dogree tho same for long tranaportation or for short,—if this cost lias to be disiributed over a fow miles only in which tho wheels are in mo- tion, then it is evidont that the cost of transpor- (nflon'fwr mile must largoly incronse, Ifitis limited by law and not allowed to increaso, then m:m long trafic must pay » loss on the short rafiic. As regards morchondiso, this is 0 apparent it nceda only to bo stated to bo undorstood, Of courso this economical principlo must not bo confused with the abusos perpotrated by tho railrond corporations in oharging heavier ratea to intormediate than to compoling Jmiutu, or with tha oxtortions at times practiced on local business. As rogarda fho curringo of pussengars it ia equally true. Tho longer the distance travelled tho greater the proflt on cach passonger, and, numbars eing oqul tho_ clicapor hg cin bo carried. In practice it is apperently otherwise, 08 it is notorious that fares for short distances are the lowest ; but this is apparent only, and is duo to tho humbers transported. Tho accu- mulation of small profits, by dividiug the cost of running tho train among vost numbers of ersons, oporates in oxactly tho same way as if t were distributod ovor a great distanco mens- ured in milos. The equal-miloago laws wore, therefore, found- od on the erroncous principle that tho' fare or froight should bo proportioned to the cost of cartiago, and the cost of carriage was held to be uniform without rogard to distance. An in- finito numbor of acts based on this principle are to be found in tho statuto books of this country., Nowhere, however, has tho system been more porsistontly followed out than in Obio. In that Stato thore are at loast nine die- tinct rates for tho transportation of passongers nnd froight, anthorized by law, and yot othora aro undor digcussion. Tho mattor'hna been incossautly logislatod upon, and_yet the Btate Railrond Oommissfonor, in his*report for the yonr 1870, asscrts thoso laws are the most fruit- ful sourco of complaint, aud that ** There is not o railroad in tho Btato, whother operated under 1 apecial chartor or tho gonaral law, upon which the lnws regulatiug rates are not_in somo way violated nearly evory time & regular passengor, & froight, or mixed train pasgos over it. “On thoso ronds whore scrupulous effort is made to act within the limits of the law, it ia violated in somo instunces by olarging passon- gers who fail to purchaee tickets an_oxcess of Tegular tiokot faro, and in othors by charging an oxcess of tho logal rato for short distances, upon tho purohngo of tickets; and in almost overy instance whoro light and bulky articles, such a8 turo, willow-waro, fonthars, and tho like, aro carriod, o frcntor rato per ton por mile i ohnrged than the law allows, and artlolos of ‘o . hazardous naturo, or of great volue, aro charged in . oxcess of thelr true welght, Whilo this is done often without complaint, and tho justico of tho rulo is conceded by many, it is novortholoss & violation of tholaw.” % % % # A striob_enfopcomont of tho prowsions of tho law would, however, compel somo compa- nies to ultimatoly suspond _businoss, probibis tho transportation of cortain artiolos by raily or nompoq thelr transportation bolow “sotus cost." In their roport for 1872, tho Commisslonors referred to tho English B{fl!um of Parliamentary trains as an oxceptionably succossful rosult of logislation on fares and freights. ko law in !lfll cago was intended to compol the companios to provido cortaln slow and choap traing at & Tow rate of faro for tho vast population of the yery poor class which is to be found in Groab Toitadn, “This rasul it waa jmpliod tho law had accomplighed. Tho report of the Parliamentary dnm:fnuu, which Laes just boon reforred to, hrow wo doubts on this conclusion. On 40 obutrary, tho Committes says that *The Justor,r of tho trailo in third-class passengora aford, & strong argument ngaiust aitompting to forosco and provide for s want of thif description by ‘imposing general, ocompul sory, and permanent oblicatlons on rail way companies. It has boon shown that Parlia- mont,anxioua to proteot the lower clasaos, atan, t,anxious to proteot the lower classos, atany rato, from tho appreliended monopoly of railway companies, imposed_spoolal obligations on tha companies, supposod obo in favor of thess