Chicago Daily Tribune Newspaper, October 6, 1873, Page 4

TERMS OF THE TRIBUNE TFRMAR OF SUNRCRINTION (PAYABLE IN ADVANBRY.-“ allyy by mall., 4100 | S 53 ,Pn.wm Iy, S50 Woad 200 Yarta of n yoar nt tho samo rato, y - o provont delay aud mixtnkios, bo suro and givo Poat 0N co ndelress (it full, meluding Htato and Coun Remittancos may bo madde cither by draft, oxpross, Post <Oftico ottlor, or in teglsterod loliots, at eur risl TERNI TO CITY AULHCIINENS, Dafly, dolivered, Lunday excoptod, % conte per wonk, Daily, ivered, Bundny Includod, 30 conta por wooks Addioss TIUS TRIBUN MPANY, Cortier M A T 5 AMUSEMENTS, TIODLEY'S THEATRE. Clark und LaSatle. —tinndolrh atrost, oty l""l’(lflllhlh"p o N, MoVICKER'S THEATRE 3—Madjson atrcot, botwoon Dembars and Stato, " Baraloga.” ACADEMY OF MUSIO--1intsted stroot, botweon Mad- Axon pnd Souron. Kingagemout of Juo Murphy, ~**Maum . MYERS' OPERA-HOUSE—Monrao atroot, botween “Dearborn and Stato, * Fuuny Mokos In 8 Fog." Miue wteolsy and cumienlitior GLOBE TIEATRE—Desplaiucsstroal, hetwoon Mad- Pon nd Waabiugton. Lnkagoment of Jolin Thompron, MUSIO IIALL—Clark stroot, botwoen Randolph and Kako. Theudoro Thonws' Orcliostra. INTER-STATE EXPOSITION—Lako-Shoro, foot of daims streot, "BUSINESS NOTIGES. +ON'S MAGNETIO INSEOT POWDER 15 FATAL, ?wll}mo :n?lo‘\[ \xfimu that infest the bod-room, tho pan- 85, ube, clothon, gardon, collr, aud consaesafoey. e o AT oot ldven, mi Al disasaos af chlldren, "sulle, ‘&c. 1 a8al0, rollablo, aud laein- OLD THE $000,000 IN A O et Al Clsouinin sont il e STATCELN 132 & GOuy 10 Wal R i3 AR b d— The Chicage Tibune, + Monday Morning, October 8, 1873. = EDTM announcoment that tho ** 01d Catholio™ ishiop, Roinkens, who has been rocognized by o Emporor, will tako the oath of allogiance to le Emiro, foreshadows o stop in tho dircotion I tho discatablishment of the Popo's spiritunl ;:Iu over the Catholics of Germany. The Apollo Ilall Democracy, who woro ox- joluded from tho Now York Stato Democratio ‘Convontion, and threatonad to contest thoir “gights at the polls, havo wheoled into lino, sud, ow announca thoir intontion of supperting the [xngulnr ticket. If it is true, as roported from London, that o crops Lave failed in Hungary, which is ono lof Europo's imporiant grauaries, American Joreadstutts will bo iu even greator demand this car than liss been enticipated, and the offects _E:r the Into panie will be the mora epeodily dissi- Jpated in this count: 1 The provalhng wseourge ab Shroveport and Dlemplis is droaded at Littlo Rock, Ark., and LCairo, Iil, ond precautionary messurcs have “beon taken to avert it. Tho people on the lino fof the river ara probably praying for tho cold ‘wweather which wo are seltishly dreading in this ~part of tho country. Our Washington corrospondent elotchos this Smomning tho personal caroer of Mossrs, Jay Cooke and Honry Clews, the two ex-Government Tonukors, and gives s description of Mr. Jay Cooke's homo nnd munner of living. Ho traces ‘#hi0 recont panic furtber back thau the failure of Seither of thess gentlemen, iy bave flnally decided to mako no {ax-lovy for tho paymont of tho intorost on the Court-Houso thonds, the mandamus of the United Statos Dis- triot Court to tho contrary notwithstanding, A “proposition is to bo submitted at the Novomber election to fund the present dobt,which amounts .£0 $2,000,000, at 60 cents on tho dollar, pagublo *in twenty yoars, at G por cont intorost. Senator Anthony, who is a mombor of Senator “Morton's Committee on Privileges and Elcctions, which has the subject of olectoral reform under consideration, prodiets that tho Committoe will Dot report in favor of electing the Prosident by + u direct popular vote, for the reason that such s proposition conld uot receivo & two-thirds vote. It is expected that tho Committeo will meot in Kow York to-duy. § At n mase-meeting of the Hepublicans in Phil- “adelphin on Saturday ovening, to ratify the ac- tion of tho State Convention, it was resolved {#to stand togother as ono man for tho ticket, tho avholo tickot, and nothing but the ticket.” This is excellont Republican doctrine,—the doctrine Ahat olected Mr., HMartranft Governor lust fall, and which persistently ro-elocts Mr. Cameron to tho United Slatos Senato. R a— Tho rotiromont of tho loun-certificates by the .Now York banks is nccessary to their continuod {oustonco as fnsueial inslitutions, but tho ‘process is putling a yevero strain upon tho mer- joantilo community. Theso lon cortifieates uro sbased upon merenntile papor, and in ordor to got Mho cortificatos rotired, tho merchants’ notes {zuuut Do paid. Thero are now about $20,000,000 of jcortificatos out, and it 1 tho declared intention of +the banks to get them back on or bofore tho 1st \of Novembor, This implies tho puyment of 1820,000,000 by the Now York morchants during ithe preuont month. Tho fact that tho loan cor- rtifleatos have advancoed in value go that thero is inow only 34 of 1 por cont discount upon thom “gs compnred with greeubacks, indicatos that tho ,morchants, a8 & clags, are able to puy thoir mu- turing paper. Affaira in TFranco aro rapidly nssuining o sig- Smificant attitude, 'Tho London Observer Liss o froport that 950 mombors of the Atsombly Lave tpledged thomsolves to support u rostoration of }Ihn monarchy, DL Thiors has acknowledged tho imminonco of & erisis by declining to loave Paris for tho timobelng, Ho says that tho Loft must bo on the grouud to defend the Ropublie, and tho fact thut tho Republican members of the Assombly ure houtouiug to the Capitsl miould indleate that they are propured to contost tho effart ot restoration. Thoy ave fortunate in Lavieg M. Whiove for “4holr loadar, as tho Monarchisth aro unfortunute Y4n having lienated him from thoir cause, ‘Thoy “contd harass M. Thiors whilo b was Lresldout ; M. Thiers can now harass them os a Mombor of {4110 Ansombly, It in also roported thnt M, ‘Chiers My Joined liands with the Imporinlists to defoat jtho rostoration. Tho statement is mado in our Washington diu- ! patelios that tho purpose of ox-Presidont Jolue son's vislt to Waslington s not to watch his do- poult af $60,000 in the susponded First Natioual Banlk, but to clear hin skirts of tho charge put upon him by Judgo Iolt of Ignoring the recom- mendation for the commutation of Mra. - Bur- ratt's wontence. Tho hanging of this lady in ywuid to troublo it who Lisd auy conncction with i THiS CHICAGO DAILY O PRI, i i e A S sl o P bl lode miie Sl it il o JH s < B R B MONDA IBUN OBLER 6, 187 it. Our corranpondent spoals of lier as * tho ghout that will not down.” Mr., Tolmson intonds to collect tostimony which will set him right. A motbor of Mr. Lincoli’s Cabinot In erodited with tho statomont that ho ealled upon P'rosident Johmron the mornfug aftor the oxeoution, and nslced nbout the recommondotion for hor pardan, Mr. Johuson thon and thore donied over having 8eon or hoard of tho documont. Tho Bunday sossion of the Evangelical Alli- nneo, which {s n sort of Eoumonical Councll of tho orthodox P'rotestant churches, attractod an itnmonso congrogation in tho Now York Acad- emy of Music, IIundreds of peoplo wero turned away, unablo to goln admittanco, 'Tho Doan of Onuterbury mado the oponing prayor and cofi- ductod tho oxoreleos, 1fo prayed that ovory wall of soparation might bo broken down that koops thoso apart who ought to bo united in ono Church. This soniimont eoxprosses tho apirlt of the Couference. 'Tho leading addrosses of tho dny wore mado by tho Rov. Nanayan Bhoshoedral, of Bombay, tho Rov. W. 8. Steven- son, of Dublin, and the Rov, Dr. Cortin, of Go- nova, who spoko in Fronch. Tho Rev. Dr. Rigg, of London, said that the present assomblago i tho most wonderful Evangelical Allianco that g over beon held. Wo give this morning anothor lottor on the condition of the Northorn Pacifle conntry, dated from Bismarck, tho 28th ult, The fand in Da- kotn {8 no better and no worso thon tho land anywhore on the Plains, but loss valuablo on nccount of the soverity of the olimate. The Bummer senson i8 too short to raiso anything loss hardy than turnips aud potatoes. Tho testi- mony of army ofiicors on the Yollowstono oxpodi- tion is, thot the country wost of fho Missourl Rivor is not fit for farming purposes. Tho sto- ries concorning tho mineral wealth along the lino of tho rond aro pronouncod as vory mucli oxaggor- atod, Per contra, it is roprosontod that tho oarn- ings of tho rond aro incressing, though this is largely duo to tho Governmont shipments of supplies to posts on tho Upper Missourl, 1t 18 clnimod that, §n cago & cortain wagon-rond shall Lo mado, the time botwgen Ohieego and Helona (Montaus) enn be shortencd several days via Northern Pacific instoad of Union Pacific. Wo wore satisfiod that it only neoded leader- sLip to got togother a relief fund for the Mom- phis nnd Bhroveport poople that would be worthy of Chicngo, The Borrd of Trade took Lold of the mattor Baturday, and, in s short time, $2,600 was collected for Blreveporb and 1,600 for Momphis. This was vory good work for a fow minutes at n time when currency is rogarded as tho most valu- sble thing going. There will probably bo & correspondingly fovorable roport from the churchies, whoso sttention hes beon directed to the mattor by Bishop Whilekouso. Dut, it nccessary, Chicago must go still furthor in tho samo direction. The country tosus should likowigo opon their hoarts and pwrsea. ‘Cho smallost donations Lelp to awell the aggregnte, and thoro is no doubt that the peoplo eadly need tho assintanco thoy ask for. Tho ncoounta that are sent of tho scourge aro of a charactor to mala the heart slck ovon at tns distanco, Monoy is o small mattor if it will help those who Lave ‘been visited by famine and pestilenco. Tho Chieago produce markots were loss active on Saturday, but strong, with plenty of cash buyers 1n attendance. Mess pork was quict, but advanced 25@5600 por brl, closing at $14.76@ 15,00 cash, and $13.60@13.62}¢ soller Decombor, Lard was quiet and firm at 7%@3{c por 1b cash, and 780 sellor Decomber, Meats were nominal- Iy firm nt 83%@Xo for short ibs, 83¢c for short cloar, snd 0@10}gc forsweat picked hams. High- wines woro quiet and stondy at 91@920 por gal- lon, Lake freighls wore active and uncLanged, at 9¢ for wheat to Buffalo. Flour was moro ac- tive and firm, Wheat was in good demand, and 20 highor on cnsh, which cloged at 1.08, while options were 3o higher, closing at $1.068¢ sollor tho month, and $1.05%¢ seller November. Corn waa netive, and !4 highor, closing at883¢e cash, and 40j{c soller Novembor. Oats wora quict and 3o higher, closing nt 31940 cash, and 33370 sollor November. Ryo was quiot and 10 highor, at Gdo, Barley was quict and 2@8¢ lowor, clos- ing at 81.27 for No. 2, and §1.01 for No. 8, Hogs wore quiet and firm at & further slight advance, enlos making at $4.25@4.75. Thoe cattle and sheop markets ruled quiet and uuchangod. THE FINANCIAL SITUATION, A dny of rost can only havo had tho effect of strengthoning the sonso of security which pro- vailed during tho lagt two working duys of the wook just closed. Tho intenso and lufectious distrust, real or imaginary, which is called # panie,” and which ought mors properly to bo known a8 “seare,” has lost its hold on the peo- plo. 'There is no longer any mania for locking up greonbacks in safoty doposits, or hidiug them in old coffec-pots, From thus timo on, the troubles that may besot commercial or finsncial institutions may bo of & mora substan- tiul charactor than any that have beon oxperi- cuced outside of tha prominent failures of tho recent flwrry, but thoy will be trested intolli- gontly and reasonably by all concorned. Tho ourrency of tho country caunot ut any time bo locked up for a sirotch of iwo or threo wooka awithout disarranging the affairs of all men doing & largo commorcial or manufacturing business. Solvent firms mny bo forced into tomporary suspension, 88 in tho case of Ponke, Opdyke & Co,, the Now York dry goods houso that had to ask an oxtonsion on Haturday, but business has returned to its normal condition, 80 that theso suspensions can bo dealt with as their resources warrant, and not foreod to the wall to reliove distress in othor quartors. It will bo surprising if some additional sus- ponsions nre not announced in commorolal business in New York, Philndolplus, and olsc- whero, and the contlnued striugonoy in Pitts- burgh iu likely to ocension trouble amonyg the fargo manufacturers of that city. Tho eauso for goneral rojoleing at tuis timo s that thore is no abnormal condition in the money market, or un- natural hindrances in the oxcbango of commod- ities, to bring ubout now disastois. Thoso who are not threutonod with sufforing from tho sliook slready sustained, will probably be able to go on emoothly, Thero aro no indications of unow brealkors ahoad, ‘Thoro ara ndditional anuouncoments in regard to tho plau of Jay Cooke's proposed sottloment, Mr, Rolling is to bo the Assignoe, with ulmost plenary powors, ouly limited by a supervisory committoo componod of Mensrs, M, Fellon, lato Prosldont of tho Plilndelphia, Wilmington & Baltimore Railrond, Willlam 0. Houston, and D, Nobtit, Jr,, President of the Corn Exchauge Bank, of DPhiladelphia. The reason given for not culling a moeting of oreditors ig that thoy aro soattored through three dif- feront citlos, though this does nob scom to bo an unusual stato of things in lnrgo fallures. Thoro {8 n somewhat novel featuroe in the plan, which proposcs, aftor the assots are figured up, to Issno * negotlablo corlifleatos of doposit," pro rala, nmong tho crodilors, Mr. Cooke might furthor etrengthon theso, perhaps, by tacking n Northern Pacifle bond to ench ono of thom, Jt lLas beon tho purpose to send uotice to ench individunl creditor for an as- sont to tho proposition, Lut a4 somo of thom may bo forgotion in tho extonded list, thoro is an invitallon, ex eathedra, for all erodit- ora to address the flrm ot Now York, Philndel- phin, or Washington. In view of the fact that it is optioual with overy individual creditor to proceed against Jay Coolo & Co, in bankruptey, it1s havdly probable that Mr. Cooke's patout baulk- ruptact will succoed. The only news of a panicky | doscription Is roported from Now Orlonus fn the susponsion of the Now Orloans Nutlonnl Bank- Ing Asgoclation, which gocs iuto liquidation, aud that of tho banking flrem of Covoroch & Bon, which was a consequonce of it. Tho local prospocta are that the wook will open with ronewed activity, Tho roports from tho country bauks are favorablo without oxception, which will lighten tho burdons that any of tho Ohieago banks may still fool. Thoro is nothing now to impodo the regular progress of trado, and Chicago is ina botter condition to accom- modato the country dealors than any rival point of shipment. Tho offect of this advantago will Lo to fucronso our business stendily, CAULFIELD ON THE HEBING-O'HARA COM. BINATION, The mooting of the Hosing-O'Hara Combina- tlon nt Kingsbury Iall on Saturday night was, aftor all the fuss, o dismal failure. The attond- nanco was Inrgo enough, but nothing remarkablo, considoring the timo ond money speut in drum- ming it up. * Tho meoting was more romarkable for the absenteos than for the number presont. Among the 450,000 poople of this city thoro was not & really prominent citizen who could be induced to preside. For tho long- advortisod assomblage of the *Uniled Nationalities,” it was found meces- sary, in ordor to have & Prosident at all, to take “DBuffalo™ Miller, In the matter of oratora the * people” woro oven moro unfortunate. Tho ouly gentlo- man not porsonally interested in tho proposed raid on the City and Couuty L'ronsury, who \was pregent to speal, was Mr. B. G, Caulficld, and he told them in the most poiuted and direct torms Lhat thoir attempt to unito all tho foroign-born citizons of Chicago in political autagonism to tho rost of the community was & blundor and an indecorum in which he would take no part. Having thus gemolished tho whole superstruc- ture upon which the combination las been formed, Lo told the meeting that this was not & lime to get up issuos in reference to Sunduy luws, ealoon liconsos, or rogulations s to the amount, time, place,for day whon men should drink, Mo ivsisted that respeot for Sunday by the .msintenance of pub- lic ordor and deconcy should be observed and maintained, and that it wus uscless to talk upon that point. The groat quostion of the dny was not Sunday drink, nor appoiutments to tho po- lice, Lut liow to pay taxes, aud how to carry tho otly through its financial embarrassmonts without inflicling loss andsufforing upon thosodepondont upon wages for their dnily subsistonco, That was o matter in which overy man wag lnlerested. Finally, ho urged tho * combination” to aban- don ity distinet orgauization, and to appoint a commitiee to consult with allthe various bodios of citizons for barmonious action in theseloction of o ticket composed of mon of abllity and in- togrily, compelent to doal with the practical question of financinl ombarrassment, and to whoso discretion all minor questions might bo safoly loft. 'hie spoech, which was a plain, common-tenyo recital of obvious trath, was not relished by tho managers, Tho cheers which bad greoted Mr. Caullield in the begiuning, gradually died away. Tho meeting bad not beon called for any such purposo; it had been called to demonstrate tho power of the * combination,” aud to searo the public. Yet, with nmazing inconsistonoy, the mooting immediately adopted resolutions addrossod to tho very quostions which Mr. Caulficld bad sug- lgflslnd of paramount importanco, declaring that thoy woro in favor of ko issuc of greenbseks, city ecrip, mill-tickets, and other shinplasters. Tho rest of tho proceedings of the meoting amounted to nothing. Mr, Caulficld bad ovi- dently given it a cold bath, and noither “Buffalo” Miller, nor Mr, Heging bimself, aidod by tho ir- repreasible Reynolds, could arouse outhusinsm among men who hind boon totd thoy woro ncting stupidly, and who ovidently bolioved tho atato- ment to bo more than balf truo. Mr. Hesing closed with tho desporate assoveration thet ho would vote tho ticket it nobody clse did. Tho moeting was o failuro, It way intonded to displny tho strongth of the Hosing-0'Hara combination tothe * liberal-minded Americans.” But the lattor did not shoyw thomsolves. In tho list of over 100 names of the Campaign Com- mittee, thero is no montion of these liberal- minded Americang, with tho oxcoplion of Mesrrs. Thomas Hoyne, Chauncey T. Bowen, W. ¥, Cool- baugh, Clinton Briggs, John 0. Maincs, and & few other gontlemen, who probably have not consontod to such use of thoir names, and who, if thoy havo not porsoual business raquiring all their time and altontion, certaluly will ngreo that the time has not yot como for a Foroign Know-Nothing party, and will further agreo that wo want o City Governmont at this time eleoted upon somo other issue than tho narrow oue of Bunday obeervance. A WATER-IIAUL, The Nation funcics that it has found an in- cousistency in Tie Cuzesuo TRIBUNE'S troatmont of thio railrond question, and, by wuy of giving point to it, says that woadvised ** as aromedy for tho existing ovils thoe conilscation of a large purtof the capital Invested in tho railroads.” What we ndvised waa tho olimination of a large part of tho waler in tho capital stock of tho rallrondn, 'The extinction of tho water sooms to bo golug on at a vapid rate without the intor- vontion of courts or jurios, Nor is tho process likely to bo stoppod by uny * remedios addrossed to the imaglnation,” Tho Nation saya that wo ridiculed what it formorly sald on this subjeat. Wo cortaluly did, but porlinps wo did not do so suiiciently, Tho Nation commenced by saylng that if lawa wero passed noto prohibiting tha lssuc of any railrond stook cxcopt for monoy actually put into tho rouds, so (hat everybody would know wheroe thoy #tood, then it (the Natfon) would cordially sus- tain such laws, and no injustice would be done to aungbody. DBut to squeozo the wator out of stocks slready issued would bo illogal, unconstitutional, and so forth, It ovidently supposod thut & corporation could issue us much watored stock as It chose, unloss expressly pro- Libited by Its chaxtor from doingso. In other words, the Nation was ignorant of tho law of pri- vato corporations, and was assuming to leoturo othor poople on that subjoct. Wo showadl by o fow roforances to tho dooistons and toxt books thnt o corporation can do nothing which it I8 not oxprosely authorized to do—that It can takeno powers by implication—that tho validity of wntered stock ia to bo ascortained in ench cuso by oxamining the chartor of tho rond which has fssued it. Wo oxprossed tho boliof that vory fow oharters could bo-found contalning authority for tho isauo of stock not paid for, but wo admittod that in any enso whero such mis- ohiovous nuthority had beon grantod, it was now too late to interforo. Tho Nation thon shifted its gronnd and snld that it would be fmmoral to meddlo with watored stock ; that cnpitalists had boen lured on to issuo such stock to thomeclvos, and in somo cases hnd ghoved It off upon widows and or- phons ¢ and that tho peoplo woro cstopped from objecting now, becouss they did not protest st the timo, That s to eny, the poople having long sgo mado ouo Inw (still unroponled) aguinst tho issue of countorfeit monoy, wore bound to make anothor as goon ma counterfeitors commoncod thoir work ; and, if they didn't pass tho law a sccond timo, countorfeiting was right, aud opposition to it wag simply nofarious | Iaving thus ndvortived itself a8 o jurist snd n moralist, it has now invited attention to it- soll as an cconomist, Tho first thing wo discov- or is thnt it calls moonshine stock *capital,” and enys that thoso who advocato the olimina- tion of the moonsline are roslly seoking to * conflscato a largo part of tho capilal of the railroads.” It is hardly nccossary to wasto words upon this gorry deflnition of capital. Auy dictionary will toll that capital and moonshine are tho opposites of each other in an economioal #onso. But onough, Wo have nover advocatod or countenancod the configcation of ono dollar or one dime's worth of the property of any railrond or pereon, Nor lLnva wo ever advocated or countenanced the oloction of any Judge who should be pledged directly or indiractly to decido ngainst railroads. Nor have we ever joined in any war sgainet ‘“vosted rights," so-called. But, whother wo have been inconaistent or not, wo have shown, perhops, that tho Nation is not tho mosk compotent Judgo to docldo upon tho: cnse. ‘WASHBURN—CARPENTER. The specch of Gov. Washburn, of Wisconsin, delivered at Fond du Lao on the 3d inst., is prin- cipally remarkable for the fact that it avoids tho old, dead issues of alavery and tho robollion, which form tho main staplo of tho provailing Ropublican haranguos, and deals with the prao- tical isgues of the day, suchas the financial trou- bles, the California upheaval, railrond quostions, transportation, tho - tariff, Credit Mobilier, #alary-grabs, and the provailing corruptions in- sido tho Ropublican party, Thoe atraight-forward way in which tho Governor deals with theso iesues is very rofreshing when compared with tho diatribes of Morton and Noyes in tho Ohio campaign; and especlully where ho deals with tho back-pay question, This portion of hisspeach ia mainly devoted to Scnator Carpenter, and must afford that gentloman o sonsntion very similar to the feclings ho would have under tho oporation of a galvanic battery. Mr. Carpentor hiad intended that his spocch sbould not only be an unavgwerable argument in favor of the rogu- lurity and propricty of tho salary-grab, but that it should set him right among his constituents in Wisconsin, and ropair tho breaches in his popularity which that transaction bas mado. To do this the more thoroughly aud effectivoly, Lo had alleged that, in 186G, the delegation in Con~ gross from Wisconsin, C.O. Washburn, I. 0. Sloan, Philotus Sawyor, and Walter D. Moln- doo, recotved back-pay, slthough Gov. Washiburn wea the only one who actually voted for it. Plucing the two cases gide by side, the inforanco was clear that, if Gov, Washburn was not consur- abte in taking back-pny thon, Senntor Carpentor was not counsurablo now. Having put tho cuse in this rosy light and shifted o share of the res- ponsibility upon Gov. Washburw’s shoulders, Senntor Carpentor restod content, As the Wash- burn men in Stato politics did not choose to ac- cuse Gov. Washburn of larceny, for taking back- pay, of course he (Carpontor) was not indictablo by that kind of o jury, 88 Lo bad only dono what Washburn had done. Tho Senator had an ox- collent prima facie caso 8 batweon tho two, Unfortunatoly, Lowaver, he has all the work to do over again. 'Tho parallel which ho has songht to draw has broken in two in the middle. The Govornor shows that ho could not have voted for back-pay in 1866, or received it, bo- causo ho was not & momber of Congrass at that timo, Undor such circumstances ns these, it becomes interesting to know whother Senator Corponter intontionally falsifled ornot, If e mnde o mistake, it was cortainly an egro- gious one, which he should haston to correct for tho credit of his own momory and genoral politieal information about affairs in Lis own Btato, and it should tench him a losson, that whon, horeafter, ho makes a statement of guch importanco as this, ho should verify it from the rocord, if his memory is treachorous, and not yun the doublo risk of impeaching Lis own intel~ ligonco and credibility, and of doing & scrious inJustico to others, If it was not an orror, then o is guilty of doliberatoly misrepresenting Gov. Washburn in ordor to shiold himself. Upon whichover horn of tho dilomma he is impaled, thore is n vory urgent necossity that ho shonld rotruot lis statemont rogarding Gov, Washbwn ot onco. OREDIT MOBILIER IN ILLINOIS, Judge Tipton, of the MoLean Cireuit Court, grautod o tomporary injunction Inet summer, st thio Buit of a stockhioldor, restraining tho officera of the Giima, Clinton & Sprivgfleld Railroad from lonsing their rond to the Peunsylvania Compapy. Tho caso was argued last Wodnes- duy on & demustor put in by tho Directors of the rond, aud tho demurror was overruled. Tho caso comes up on its morits on the Oth inst,, but it las nlroady proccoded far cnough to revoal tho grounds of complaint on which the com- plainants, now inoluding soveral of tho town- ehips whoso subseriptiona secured the building of tho road, Liave askied tho intervention'of the Courts, Tho case, ns stated in the complaint, prosonts another of tho numorous imitations in this country of the Crodit Mobilior systom of building railronds, Tho case s published at length in tho Bloomington Pantagraph. In 1809, Mosera, Molvin, Warner, Fuller, and othors, Diroctors of the chartored Gilman, Olin- ton & Springflold Railroad Qompany, having ko ourad sufficiont munieipal subsoriptions to begin the work of construction, entered into a con- tract, on tho part of tho Company, with a Ponn- sylvanin corporation known as the Morgau Im- pravoment Company, for the bullding of the road, on tho following terms: §0,080 o milo woro tobo paid in county and town boudy for grading, bridging, and tiolng tho entiro longth of the road, about 110 milen ; nud $2,000,000 of tho Rtpilrond Company's first-morigage bonds wora Lo bo paid to iron and oquip tho lno, and provido 1t wilh stations, switches, wator-tanks, ote, This wouldboat the rntoof 2,600,000 forthe whola worl, whilo n snbsoquont ostimnto of the cost of the road, which ruus through n Jevel country, placod it at $1,600,000, The Morgan Ithprovemont Company had no sooner sccured its contract than It sub-lot tho work of grading, ironing, tiolug, and surfachig to Jobn Warmor, ouo of tho Diroctors of the rond, who had boon Instrumental In scouring tho original contract. Tho bridging of tho rond was algo sub-lot to Goorgo B, Gralinm, who is chinrged with being straw-man and really roprosonting William TFuller, the Vico-Presidont of the road, who had likewiso boen nctive in letting tho contract to the Morgan Improvoment Company. This iy o ropotition of tho Union Pacific mausge- ment, in which the Directors, acting for tho Company, lot all tho profitable contracls fo- thomselves through go-botweons. Molvin, Willlams, Black, and others, aro alloged to bo stockholders iu both the Gllman Rond and tho Morgan Improvement Compuny. It is also charged that thoso same gentlomen aro mom- bors of the Barclay Coal Company, enguged in mining coal in Bangamon County, which bns hind the bonefit of very favorablo freight con- tracts ot tho expenso of tho bona fide ownora of tho rond. During tho construction of tho rond, the contractora gold thelr $2,000,000 first-mort- gage bonds for £1,600,000, and woro charged on tho books of tho Compaay with the lattor amount instend of the face of tho bonds, as per contract, boing an additional profit of £400,000. Tho Morgan Improvemont Company also brought in s bill of extras, and rocoived & crodit on tho books for thoso to tho amouut of $373,000. If tho actual cost of con- #truction wag only $1,600,000, a8 hes hoon osti- mated, the profits derived from these Credit Mo bilier transactions must havo been about 81, 778,000, To holp themselves out on this, tho Diroctora lsaued $1,000,000 of new securitios, called *Income Bonds,” in violation of law, 88 their charter gavo thom no authority to increnso tho Company's indobtodness, Thoy also lssuod to themeolves & majority of the stock in ordor that thoy might control tho management of tho rosd. IHaving gecured all the profits from con- tracts thnt wero to bo made, snd having oxhaust- ed tho resources of tho Cowpany, it was then proposed to leaso the road to the Ponusylvania Company, on condition thatfihis Company would pay tho intorest and priucipal of the bondas that hiad beon issued in oxcoss of the legal indebted- ness, nnd pay iu monoy the cluim of 273,000, in which tho Directors hnd o personal intorest. This would leave tho real builders of tho rond, the towns and counties that issuod their bonde, out in thocold, and tho construction ring would secure its ouormous profits at their oxponse, Tho remedy nslkod for by tho complainants I that tho road shall be releused from tho heavy indebteduoss charged to have been fraudulontly issucd, nnd placed in tho hands of the Yona fide stockholders, consisting of tho countics and towns that subseribed for the stock and paid for it with their bonds. If the facts shall be proved to bo what is elleged in the complaint, wo should mnot Lo surprised if somo such radical reliof would bo afforded by tho Court, Wo havo already pointod out, on sevoral occa- sions, that tho lnw oxpressly limits corporations totho privileges doflned in their chartors, and that they have no right to go outsido of tho domnin thus doscribed. Wo havo also oxpressed tho opinion that, under this principlo of law, tho Directors and stockholdors of & railrond com- pany have no right to lenso their road, unloss thelr chartergrants them the privilego. Tho snmo probibition wonld apply to an ovor-issuoof stock or bouds, With regard to thoe Credit Mobilier plan, by which Dircctors of railroad companies make profitable contracts with thomselves ag in- dividuals, Congress ovidontly bolioved that a Court of Equity would adjudge such contracts to bo fraudulent, or it would not have author- ized tho suit whick the Government lins brought in the United States Circuit Court at Iurtford, Covn, The same question appears to be in- v olved in the cago brought before Judge Tivton, THE TAX-STEALING TRANSACTION, The Bpringfiold Journal is forever reminding thie public that, somo yoars ago, the thoun Coun~ ty Clerk of Cook County, by an omission to ox- tond n cortain tax on his books, lost to the Stato some 3125,000 of rovouuo which ought to have beon collected. he act of the Clerk was no- whore more stronglyreprobated than iu this city, aud wo have nover heard anywhoro an objection on the part of our citizeus ageinst being taxed to refund to the Stato thut sum, lost without any kuowledgo or connivanco on tho part of tho peoplo, The samo paper also reminds us that tho State bas paid to the city of Chicago $2,950,000, in consideration of the rolense on tho rovenuos of the cana), for which act tho poople of this city have boen oxtremoly gratoful. It i true, tho city ex- pouded nearly o million of dollura moro on the caunl than it got back from the State, but, for what tho Stato did rofund, Chicago will always o traly gratoful. Dut thero aro at this time railrond nid bonds outstanding, issued by cortain towns and countica (a minority of tho people of tho Stato) nmounting to over £13,000,000. Theso bear an nverago intorest of 0 per cent, and tho annual inloreat renchon noarly §1,200,000. Somo of thoso towns and countios bavo broken down in the payment of thoir intorest, and othors aro sbout to follow., Tho bonduolders aud their sgonts have thoroforo dovised & schome by whieh tho assossod valuo of taxablo proporty in this Btato shall bo nearly throo times that of 1808 ; in this county it is proposed to make it newrly five timos ng gront. Undor the infamous Jaw of 1869, all Btato taxos collectod on tho dncrease m tho nusossmont ovor that of 1868 shull bo applied fn thoso towns, counties, oic., owing much bonds 1o the payment of intorest and principal of those roilroad bonds, The enormous assossment for 1878 wiil produce enough rovenue upon the in- crengo to pay ull tho interost on those bonds, and loavo n large surplus, 'Tho doficienocy thus croatod in tho State rovonuo {8 to bo mado good Dby collecting a million or #o extra ax from tho counties not saddled with railrosd aid debts. Bangamon County und the City of Springflold havo to poy an snnual tax on thoir railrond bonds of sbout #40,000. No tax is to bo lovied thoro in 1874 to puy that tax; it ls tobe taken out of the Btato revenue, and othor places, like Ohleago, Waukogan, Woodstock, and Galons aro to supply tho doficionoy. Docause Cook County objects to this procceding wo aro reminded of tho State's great ** charity ™ in our distross, On this question of charity it should bo remombered that Chicago will pay from ono-slxth to one- fifth of the wholo ohnrity anyway, as it will pay onc-fifth or oue-sixth of tho three willion Stato- Tlouao; as it doos pny one-fifth or ono-nixth of oll tho expense of tho hospitals, asylums, col- logos, schools, homen, and othor nstitutions of tho Stato, including that of the Btato printing. Whon, in addition to all this, Chieago is onllod upon to pay othor poople’s railrond aid dobis, amonnting to many milllons of dollars, sho may thrust tho repronch of charity back upon thuse who proposo to rob her, HECKER IN GERMANY, ‘Wo print elsowhere some oxtracls from o Apeach mado at Mannbolm recoutly by the Hon, T'red Heckor, In which lio takes his farowell of his nativo Innd, It will bo romomborod thiat on ‘lhu Inst Fourth of July, Mr. Ifecker mado n spooch in which ho contrasted Gormany and tho Unitod Btatos, and told tho Germans soveral home truths, which woro very unpalatablo to. tho Corman authoritios and the Government nowspnpor organs, aud brought dows upon him ntirada of abuse. Ib is partly in roforencoe to thia snd partly for tho suko of saying some + 88t words to hin countrymon, that Lo delivered his Msunboim specoh. Iocker's recoption in Gormany by the people hns boen o continued ovation over Binco ho crossod the Corman boundaries. Thousanda bave grocted him ot overy raflway station, snd in overy city whoro he has stopped Lo bns beon cscorted through tho stroots Jiko n conquoror. 'Tho onco peraccuted fugitivo, drivon from his Tathorland, rotarned in triumph a8 the oitizon of mnothor coun- try, .but stlll n Gormsn in thought and feoling, avd fres to labor for Qor- mon froedom oud German unity. withoub four of personnl molestation, 'Tho burning words of this sturdy son of freedom must havo mndo & deep improssion upon the thousnuds who havo listencd to him, and will bour good fruit in tho coming timo. With all his impetu- osity, and ovon with o1l his jmpracticability, no truer patriot lives, and his fenrlosa ploading for liberty, and his bold aunouncoment thot the Gorman uuion was not yet complete, bo- caugo it was only a confodoration of Princes and Governmonts and not o union for liborty, while they brought upon him mon- archicalabuge, must, novertheloss, have aroused the Gorman people to o renlizing sonso of thelr situation, Iig Maunheim speoch, with ita bold utterances and glowing eloquenco, and its rug- ged manliness, a8 woll as its clussical boauty and finish, will socure for him s warm welecomo when ho roturns to his native country, which, as ho oxpresyos it, “bocamo his entrance to froodom, snd will soon become his entrance to everlagting rost." Obituary. Thoss who admired tho brilliancy and wit, tho humor and pathos, of the New York Satur- day Press, duriug the brief timo of its existence undor the auspicos of Clapp, Willinm Wintor, Goorgo Arnold and others, will rogret to learn thot Ade Clare, who wue also nssociated with this cotorlo, died at Nottingham, Englnud, on the 18th ult.,, in hor 8Gth year. She was woll Luown in this country a8 a clover writor, both of prosc and verso for tha Saturday Press, the Now York Leader and other papers. She was also an actress, and first becamo kuown to Now York in tho dramatio profession, about cighteon years ago, at Wallaek's old theatre, whero she mado hor debut as Julia in *The Hunch- back.” Lator, she appeared attho Acadomy of Musio 88 Ophelia, and, otill lator, was & member of Loura Keepo's company ab tho Metropolitan Theatro. She mover roso to any prominenco, however, upon the stage, having, indeed, very littlo qualitication for it, excopt a very haudsome figuro, In Now York, and indeod throughout the country, sho bocame well known as ‘* the Queon of tho Bohemians.” Bho had a pretty figure and a good face, her complexion being a delicate commingling of red and white, hor oyes bluo, and Lier hair that of a perfect Llondo, I'hie death of Mr. Willlam Wheolwright has beon announced by tho cable dispatches, Ho was born in Newburyport, Mass., in 1797. He built tho first reilroad, tho fivst telegraph, tho first gns and water-worlks, and the first iron pior in South Americs, over twenty years ago, and was also the founder of tho Pacifio SteamNaviga- tion Company, the largest aud most suceessful steamship livo iu the world, running from Eung- land to Lisbon, thenco to Brazil and the River Plata, through the Straits of Magellan to Val- paraiso, Cnllao ond tho Isthmus of Pangma, During tho lnst thirty yoars his name hus been idontified with ovory grest public movoment in tho intorests of progress in the South Ameri- can Statos. His last great labor has boon in the constiuction of tho Groat Contral Argentino Railway, running from navigation in the Atlan- tic to tho City of Cordovs, in the heart of tho Bouth American Continent. Ie was also widoly known by his munificont assistance to public charitics and his liberality to the canse of scieuco and roligion in various parts of the world. Among his efforts in this direction was tho tranglation of tho Bible into Turkish, which was Targoly duo to bis iustramentality, ‘Tho cable, a few days ngo, brought the nows of tho death of Robort Bigsby, an English puthor, comparatively unknown in this country. Flo hns been, howover, o very prolificwriter, and has attained a vory high distinction in England, thus roveraing tho old proverb that a prophot is ot without honor eave inhisown “country.’” The decensed was born In Nottingham in 1800, und commencod writing at o very early ago, His principal works aro a8 follows: *A Collection of Epigrams " (1820); *Miacollancous Pooms ond Essays " (1842) ; ¢ Visions of the Times of 0ld " (1848) ; “ Romarks on the Expedioncy of & Nutional Ordor of Derit " (1855) ; ** A Trib- uto to the Memory of SBcanderbog the QGreat" (1806) ; ** Momoir of tho Ordor of Bt. John of Jorugalom, from tho Cupitulation of Malta in 1708 " (1860), In 1800, n litorary ponsion was granted him by the G overnment, o was also an honorary and corrosponding member of sev- oral foroign literary societies, and Sccrotary of tho English Order of 8t. John of Jerusalom. In 1864, tho King of Portugal conforred upon the dcconned tho insiguis of the Order of Bt. James of the Bword, —— Wo have rcceived from tho Board of Btate Building Commisalonors of Michigaua copy of tholr third aununl roport to tho Governor, the main faots of which are that, siuco their Inst ro- port, all tho concreto fouudations for tho new Capitol at Lnnsing havo beon put iu, that the footinga aud foundntion walis to tho oarth-lino aro nonrly completed m & satisfuctory manuer, snd that tho most of tho cut-atona for tho base- mont aud first story Las beon propared, and a portion of it will be sot during the prosent sea- gon, Tho disbursoments authorizod by the DBoard durlng tho flscul yoar amouat to $138,- 00171, - e—— NOTES AND OPINION. Tho rocord of nominations (by counties) In INinols, for the eleotion, Noy, 4, shows tho rela- tivo activity of partios to thiu date, viz: & g¢r’. lkpubfilamnl. Dtmurllf‘:i Nominated, ... 3 Conventlons eal 9 4 4 Will ot nominat 5 13 10 ' Bolschafter, the Qorman-Republiean nowspapor at Madison, Wia,, hoints tho Pooplo's Btato tickot, but says: ** A rogular party olec- {ion this yoor is all out of tho question. Both tlokots will undorgo a cavoful scruting, and the rosult cannot bo forotold.” —The Oinoinnatl Times (Republican) aays “{horo 18 not going :to bo 8o much voting in Ohio this year ag thore has beon sometimes, but what there is, will bo douo a good deal more ine dopendontly than usual.” —Tho old political haoks of both partl os ate juat hoginning to discorn the algns of the times and find out thint they do not control affairs ab- . solutoly.—Oleveland Leader, 0 —1lio Inbor-reform movement still lives, Tt out-cropa’ in all sections, whothor protected or unprotected, Workmon are just heginning to discover that Lo objoct of claus-ln, lxflnl[nn’]s to enhanco the profits of capitnl, and diminish tho rowards of frugality and iudustry.—St. Paul (Atinn.) Ploncer, —Tho poople aré at work, now thoughts and now idens uro nt work, and, if_thoko who aro coming to heip regulate the alfnirs of n distract- od country cannot do hetter then thoso who nro now guiding and controlling tho vast intoreuts of the country, freedom of speech and a popular voto have been given to a uturdy Anglo-Sason raco for a fruitloss purpose.—Laiwrence (Kan.) Standard, —Qov, Dufiluy ling ordored & spocinl olection in this (Tiftlh) Congreseional District, Nov. 4, to_fill tho vacancy occastonod l{y tho doath of Wildor D, Fogter ., . . . We venturo the prediction that fflrly will have littlg to do in tho oloction of n Ropresentative in Congrows for this district at tho com\uF alection, Tho mass of the pooplo of the district, now that thoy will bave au opportunity to vote for men in choosing thelr Ropresentative, will havo aomulbllx§ to say at the coming eloction, Tho il bas left their oyes, and thoy view the situation of afairs in o much_difforont light than “in_tho Irosidential contas of 1872.—Grand Rapids (Alich.) Demo= crat. A ~—Dravo news comes from Iowa respecting the ngrm of tho political campaign. Tho Antl- louopoty Platform of tho Itepublican Convan- tlon proves to_havo heen oxnctly suited to the Patrons of Ilusbandry. Whon the Denwerats held thelr convention, they alo ndopted an anti- monopoly platform, and called themselves Anti~ Monopolists, probubly in hope of seouring the Granges. Most of tho farmors, howovor, aro with the Ropnblicans, who, it is prodicted, ' will oarry the Biato by upards of 50,000 mnjority. Thig will bo a splondid showing, but the bannor Ropubliean Conunonywaenlth of tho nation will be able to eclipao it. P'ennsylvania does not: pro- poseto yiold bor wall-oarnod laurals to any Stato, f &mmotlo Iabor and vigilance can pravont it. Pittsburgh (I’n,z Commercial. —The Auti-bMonopoly movement la right—it 18 bagoed on gound principlos and must win, But it will not win_while dilly-dallying with the old portios, The Whigs in the North, in 1854, could ass o8 sirong anti-slavory resolutions ns uny bolition moeting or Couvoution. But tho trio anti-slavery mon know their professions woro liollow, bocanso, 0g o prrty, thoy woro bill wu- dor boods Lo thio Whigs of tho Sonth, So the Tepublican party of tho Wost can now pase an- ti-monopoly nnd & milleand-wator sort of anti- tarifl roolutions ; bub your true Anti~Monopo- Jist knows that tho party asa wholo in utill in the clutchien of the bonk, tariff, and railrord mo- nopolists of the East, and that no real reform cuu evor proceed from that party.—Macomd (11.) Zagle. - —1I¢ i not impossibla that tho movemont now going on in lllinois, Indiaus, Wisconsin, and Califorpin may culminate in a. grest national party. It tho Farmers' Grauges, the discon- tented politicians, and thoe great 19uk and fllo of spirits now chnfi“g under tho oxtortions of ‘monopolics, tho abuso of powor, and tho iuso- lence of oftice, slizll como mfinhur undor honest. Jordorabip, ond governed reanonable and modorato councils, it is posaiblo to_form n party that shall weop tho nation like o broom. — Ro- form {s uonmfi!oua, and whon onco tho epidemia Aoty in, not all tha arts of tho politicinn nor ths tricks of office-holders will Lo able to urrost or sty it.—San Francisco Chronicle, —Not long ngo an order came from tho Navy Dopartment in Washington to the Charlostown Navy-Yard to sppoint an npkvlicnut to o cortain placo—suporintondent, of paiuts, porhaps: any rate, an offico which did not exist, and for the croation of which thoro was no’ oarthly roason, oxcopt that somebody had demanded that tho man should havo a position undor tho Govornmont. Wkt is tho uxo of remoustrating with the head of the departmontor his bureau oflicors from whom the command comes to give plucos to incompetents ? Thero is rottenucss in tho wholo systom.—Boston Adverliser. —AMlost of tho leading members of tbe present, or new Congress, wers leaders in the last Credit Mobilier sud hnck-x;}x\y concorn. Dawos, Gar- fleld, Logan, Bon Butler, aud other leading selary-grabbers, will be there, leading o wholo train of imbecilos, corruptionists, and moro partisans under lobby influenco and pay, and roudy for any pasing job or intrigue Which might presont itself, Yo iden of such men Qoing anything to holp the country out of the crisis is propostorous sud absurd.—Mitwaukes Netws. —Tho first_thing that Congreas will be enlled npon to do whon it sesembles will be to parcel out its hundreds of members into so wany inves- tigation committecs; and if it investigates every mntter of n criminul or suspicious naturo upon which the peoplo demand and should be fur- nished completa official information, it will do nothiug at the next session but investizate. No ono need hope or fear that Mr. Grant will convene Congress in oxtra seasion. The Credit Mobilior exposuro of the last eeesion is nothing compared to the corruption that wilt be mado to oozo_out of every {mro of the Administration, and ils leaders and favoritos, at tho next sension,—an; ing nothing of tha back-pay and kindred bus nens that will Lave to bo mot and disposed of.— Rochester (N, Y.) Umon. —Tt is just tho timoto propound this ayllogism to Bonator Shorman : 1t tho clection of any par- tieular individual to the Proridency could create a crisig, and that one person was defeated, wantd not tha succossful candidnto bo chargoablo for tho Tesult, if & crisis should occur during his administretion ? The country ought to bo under the deepest obligations to tha Olio Sonator for having said, what he is 80 capablo of raying, on tho financial troubles—nothing.—St. Louis Times, Ag n good many faithful Administration news- papors horenway profoss to rogard it only s n O Greelay lio” that thero is, ot has boon, any in- tout to shoulder the District of Columbis’s delit on tho Nutional reasury, it may be woll to uote this londing editorinl paragraph from the ;l'h(uburgll Gaulle, edited by the Chairman of tho Ropublican State Committoo in LPenusylva- nin, viz, s A strong hintls fhrown outby tho Washington Chronicle, that Congress will he ealled upon to bear a portion of tho debt fnencred In_fmproving that ety oforo this is done, the press of thie country wil i siut_thot thero shull ho such n showing of ilfuirs of thio District us will establish coutidence in the honesty of tho_outlsys made, This done, nud rewsons My ponitly, bo urged - fn bebnlf of' Congressional uid, should thero bo presented conviuciugly, woll ; but thoro fa a fecling prevalent that the outluys nade are ostravagant, snd not ontirely houest. It Horaco Grooley hnd beon elected Dresi- dout,and the proront revulsion had oceurred, tho Albany Evening Journal would have hold Dim rosponsiblo, us" it oxplicitly doclured lnat yeur, _And yot it holds Grant innocont.—Albany @, Y.) Argus, & Tlio Monopolists falscly alloga that tho Anti- Monopoly emndidaten aro attucking Ottumwa bunks, Lhis is not wo. 'The Anti-Monopolists, bowover, do nttack the banking systom, and at- , should have been tributo to it tho source of tho prosent fuancial troublo.—Oltumuwa (Iowa) Democrat. —Tho culminating point inthnt * unbounded prosperity ' with which the Ropublican party is afilicting tho country has ot last boon reachud, snd now what soomy tobo most in demnnd ia confidenco. . . . ‘The press of the country s crying out, with slmost ono_ necord, give syin- pathy to tho nnfortunates,—havo eontidence | © .. Ttmakes ono sick nlmost to nuusenting to read tho twattle intbodaily pupors, commont- ing on tho situation. Of conrro the future is hopoful, Tho banks hava adopted tho *“ wisg puhcy "ot rolusing to pay largo drafts and pre- vonting *‘unrensoning partics” drawing out thelr - doposits to bo locked up in private boxes, This is wisdom, g1y tho subsldized daily nowspapors ; wisdom, echocs the unthinking vietims of o monoy dospotisi. ‘Whose money is it thoy rofuso to pay out ; s it tholr own or thoir dopositors? Look at it farmers and workingmon, aud #0a how nbsos lutely they nro masters of the situation.—Morris son im.) “Independent, f —In tho hey-dey of tho Jay Cookes and Tion= ry Clewses, the buchu-bunkers flomished with a splondor fur_wurpuwlig Mt of poor crzy Ilolmbold, and othor quacks iu tho litoral buchi lme, . . . But there is o time for all things, says Solomon. 80 n timo eamo for tho charlatans of bueln flnanciering to meet, without Ynuslblllly of evailon, the ine Junction that ovory tub shull tand on its own bottom, OF courso, thoy conld not porform thio raquiroment, as thoy had no bottom to stand on. Cousoquontly thoy foll to piecos. This is & wolcomo avent, but” it wan wolully tardy in coming. It should havo como hofora the Gov- ernment got involved in disvoputable rolations \With the magnates of buehudom, Indoed, 1t 18 & shame to_ the conntry that the bucha trade in finaneo and politics, as mllrnunntud by tho Oakes Amesen, tho Jay Cookos, tho Behuylor Colfaxes, ormitted to grow into such onornious vravuxlmm, and to cast over the wholo peoplo its ominous and chilling shadow. —New Oricans Times, —Lot us supposo tho convertible curroney systom adopted by the Government, Tho worki- ingman who has saved up 250 lng no longor neod of_tho savings-bunk, = 1lo takes his 250 ta somo CGovernmont depository and exchunges thom for a United Stutes bond, There iy na worry, thon, ahout the solvency of the institn- tion In_which ho Ly invested.—eoria (1) Trunseript,