Chicago Daily Tribune Newspaper, December 28, 1873, Page 5

" THE CHICAGO DAILY TRIBUNE: § 1 AY. CAPITAL: AND -INTEREST. A Chapter for the Working. men, : Why Interest Is Paid for tho Uso of Capital. ‘Why It Is Perpetual. Whanquld Be the Condition of Things Without It. An Address to the Workingmen: of Paris. . " DY FREDENIO DABTIAT. X address this troatleo to tho workmen of Paris, more ospectally to thoso who have enrolled themsolyes under th bnner of Soclalist domac-. . racy. X proceed to consider thoso two quos- tions : Firsi—Is it consistent with the nature of things, and with justico, that eapital should pro- duco interost? Second—Is it conslstent with the naturo of. things, and with justico, that tho intorost ofi capital should be porpotual ? The workingmon of Parls will cortainly ac- Xnowledge that a moio important aubject could ot bo disoussed. . Bince the world began, it has beon allowed, at lonstyin part, that capital ought to produce in- terest. But lattorly it has been affirmed, that heroln lies the vory social orror which is tho caugo of pauperiem and inoquality. It s, thoro- dore, very essontial to know now ou what ground wo atand. For if lovying intorest from capital is a sin, the workersa have & right to rovolt against soclal or- der, a8 it oxists ; it is in vain to tell them that thoy ought to have recourse to legal and pacifio menns, it would be o’ hypooritical recommonda- tion. When on tho one side there is o strong man, poor, and a victim_ of robbery,—on tho other, a weak man, but rich, and a robber,—it is singular onough, that wo should ssy to the former, with a hope of porsusding him, ¢ Wait 1l your oppressor voluntarily ronouncos op- prossion, or till it shall conse of iteclf.” This <aunot bo ; and thoso who toll us that capital 18, by naturoe, unproductive, ought to know that they wre provoking 5 A TENDIDLE AND TMMEDIATE STRUGOLE. If, on tho_contrary, tho intorost of capital is natural, lawful, consistont with tho general good, 88 favorablo to the borrower as to the lender, tho «economists who deny it, the tribunes who trafflo in this protonded social wound, are loading tho workmon into & senscless and unjust strugglo, which can have no other issue than the misfor- tuno of all, In fact, thoy are nrmlny Iabor against capital. Bo much-the bettor, if theso 4Wo poaers ard roally antngonistio; and may tho strugglo soon be onded!’ Bub if thoy aro -in ‘harmony, the struggloe is the groatest ovil which coan ba inflicted on Boclety, You see, then, work- men, that thore is not a moro important question than this: “Is tho intercst of capital Iawful or not ?” In the former cage, you must immediate- 1y ronounce tho atrugglo £ which vou aro being urged; in'the second, you xausé carry it on ‘bravoly, ond to the end. Productivenoces of cnpflnl—perrotu(ty of in- {erost. Theso aro difficult questions. I must eudoavor to make myself clear. And for that 'furpauo 1 shall have recourse to oxample rather than (o demonstration; or rather, I shall placo the demonstration in the oxample, ‘I begin by acknowleding, that, at fliat sight, it mayap- poar sbrango that capital should protond to & ro- ‘muneration; and, above all, to A PERPETUAL REMUNERATION, You will sny, ** Hero are two mep. One of thom works from fhorning till night, from ono year'send to another; and {f ho consumes all which ko has gained, even by su- perior onergy, ho romaing poor. When Christ- mna comes, he i8 no forwardor thon ho was at the beginning of the Eon.r, and has no other prospect but to Dogin oguin. The othor man does mnothing, either - with this hands or bis head; or, at leaat, if ho makes uso of them atall, ivis only for his own plone- ure ; it is allowable for him to do nothng, for he has an income. He does not work, yel ho lives well; he has overything in abundanco, delicato dislice, sumptuous furniture, slegant odulpagos Doy, ho oven consumes, daily, things which the worlers have baon obiiged “to produco by tho swont of their brow; for theso things do not ‘malio thomselyes , and, as far as he is concorn- -od, he has no hand in thelr production, It is the workmen who have caused this corn to grow, Follshed this furniture, wovon theso carpeté; it 5 our wives and daughters who have spun, cut out, sewed, and embroidered theso stufls, We worlt, then, for him and oursclves ; firat for him snd fhen for ourselves, if thero is anything loft. Bat here 18 SONETHING MORE BTRIKING STILL. If tho formor of thess two mon, the worker, consumes ywithin tho year any profit which may, have baen loft him in that year, hois always ot the point from which he slarted, nud his deatiny condemns him to movo incessantly in n per- etual circle, and a monotony of exertion. La- or, thon, is rowarded only once. But if tho other, tho *‘gentleman,” consumes his yearly incomo In tha yenr, ho hos, tho yoar after, in thosa which follow, aud through all ctornity, an income always equal, inoxhaustible, perpetual. Copital, thon, is remunerated, not only once or twice, but an'indofinito number of times! So that, at tho end of a hundred years, n family, which liss placed 20,000 francs, at 6 per cent, ‘will have had 100,000 francs ; and this will nof provent it from having 100,000 france more, 1n the following contury. In othor words, for 20,000 france, which represont its labor, it will have levied, in two conturies, A TENPOLD VALUE on the labor of others. In this socinl arrango- ment, is thore not a monstrous ovil to bo ro- formed? And this is not all. If it should ‘filmu this family to curtail its onjoyments o ttle—to spend, for oxamplo, only 900 francs, instond of 1,000—it may, without any labor, without any other troublc boyond that of invost~ ing 100 francs s yoar, incroaso its capital and its income in such rapid progression, that it will soon bo In a position to consumo as much as & bundred familica of industrious workmon, Does not all this go to provo, that socloty itself ‘has in its bosom & hideous cancer, which ought to be erndioated at the risk of somo temporary suffering ?" Thess are, it appears to me, the ead and irri- toting roflections which must be excited in your minds by the active and superficial crusade which ia boing carried on against capital and intorest. On tho other hand, thero are moments in which, X am convinced, doubts are awakened in your minds, and soruples in your consolence. Yon ga; to yourselves sometimes, * But to assert thal capital ought not to produce interost, is to say that he who has oroated instruments of labor, or materials, or provisions of any kind, ought to ield them up without compensation. 1Is that uat ? And then, if it is 8o, who would lend eso0 instrumonts, these materials, these pro- yisions? who would tske caro of them? Who even would create thom? Every one would con- gumo his proportion, end the hunnn race would mever advance & stop. OAFITAL WOULD DE NO LONGER FORMED, since there would be no [uterost in forming it. Tt will become eoxceeding scarco. A singular stop toward gratultous loans! A singular means of improving the condition of borrowers, to make it impossible for thom to borrow atany rice! What would becomo of Inbor itself? for hore will bono monoy advanced, and not cno singlo kind of labor can be mentioned, not even the chage, which can be pursucd without money in hand, = And, nsfor ouraelvos, what would hecome of us? ' What! wo are not to bo sllowod fo borrow, in ordor to work in thio prime of lifo, nor to land, that wo may enjoy ruTloun in it8 decline? Tho lnw will rob usof the prospeat of lnying by u littlo praporty, because it will ivrevont us from gaining any advantago from it. t will dopriva us of all stimulus {o savo at the present time, nnd of all hiope of repose for the futuvo, It is usoloss to oxhaust our- solves with fatigue ; wo must abandon tho idea of leaving our sons aud daughtors a little prop~ orty, since modern Bclenco rondors it useloss, for wo should bocomo trallickers in monit we were to lond it on Intorpst. Alas! the world which thoso porsons would open hoforo us as an lnagina good, I8 atill moro dreary and dosolato than zhfi which thoy condemn, fof hiope, at any rate, is not banished from tho lattor.” Thus, in'all respoots, and in every point of view, the question is o sorlous one. Lot us linston to arrive at a solu- . y 9l)m' olvil codo has & chaptor entitled, MON THE MANNEL OF TRANSMITLING PROPERTY.” clature on thls polnt. Whon & mon by his Jubor has made some useful thing—in othor words, . whon ho has ordntod a valuc—it can onI‘y nee into tho handd of anothor by oo of tho nl?o\v- ing modos: na a gift, by the Tight of Inlieritance,’ by.oxchange, losu, or “theft.” Ono word upon onoh of thoso, oxaopt thio laat, alihough it plays a gronter partin tho world thah wa may think, gift noods no dofinition, It is nunenllnuy. voluntary aud.spontanoous. It dopends oxchi- slvely upon the giver, and tho rocoivor cannot bo said fo havonuy right to I, Without s doubt, mor- ality and roliglon make it ‘s duty for mon, ospo- clally tho rich, to dopxive thomsolyos voluntaril of that which thoy possoss, in favor of thol losd fortunato 'brothron, But this §s on ontiroly moral . obligation, It it woro to bo assortod on Frhmlpln, admitted-in practico, or sanctioned by aw, that ovory man has & right to the proporty of another, the gift would have no merit, oharity and gratitudo would. he.no, longor virtuos, Bo-: sidos, auch a dootrine would suddenly and uni- voraally . N . ANNEST LADOR AND FRODUGTION, a8 Bovoro cold congonls wator and susponds ani- mation, for,who would work i¢ thero was uo lon- ger to bo any conncotion botwoon labor and the eatlafying.of our wants? Political oconomy hins not.treatodof gifts, Ithashonco boen conclud- od that it disowns thom, and that it {s thereforo s selonco dovoid of heart. This is ' ridiculous acousation, That scienco whick treats of the Iaws resulting from the reciprocity "of services, ad no business to inqulro into tho conssguonces of gonorosity with respoot to him who roceives, nor into its effocts, porbaps still more procions, on him who glves; auch considorations lolong ovidontly o fo solonco of . morale. . Wo muss allow. tho scicnces to Lave limits; above ali, wo must not acouso thom of. donying or undorvaius ing what thoy look upon as foreign to their do- partment. - . TOERIGHT OF INIERITANCE, - ° against which so muoh has beon objected of lato, is ono of tho forma of lfiifl, and "assurod- ly tho” moat natural of all. That which & man hoee producod, ho may oousumo, ex- chango, or giva; what can ho moro natural than that ho should give it to his childron? It is this power, moro than_any other, which inspires him with courago'to labor and to save.. Do youlknow ‘why the prmuli)lu of right of inheritance is thus called in question? Bocaueo it is imagined tlat tho proporty thus tranemitted is plundored from tho ‘maeses: .This is & fatal orror; political ogonomy domonstrates, in tho most poremptory mouner, that all value produced is a creation which does no harm to any person whatovor, For that resson, it may bo consumod, and, still more, transmitted, without hwiting any one; but 1 ghall not pursno theso reflactlons, which do not belong to tho subject. : + EXCHANGE is the prinocipal departmont ot political ccono- my, becauso it is by far the most froquent mothod of transmitting property, - acoording to the free and voluntary agroomonta of tho fit and effects of which scionca trents. - Properly speaking, exchange is the reciprocity of sorvicos. Tho partios say botsoeon them- Bolves, * Glve mo tlus, and I will givo you that ;" or, ' Do this for me, and I wiil do"that for you.” Itis well to romark (forthie will throw 6 new light on’ the notion of valua), that the second form is nlwoys implied in tha first. When it ia sald,. ““Do thia for mo, and I will do that for :uu,'" an oxchango of sorvice is proposed. Again, whon 1t “is sald, “Give me this, and * will givo you that,” it 18 the samo ns_saying, “I yiold to you'what I have done, viold to mo_what you have done.” Tho Inbor fa past, insténd of present ; but the oxchango i not tho loss governad by tha com- *mrnfivo valuation of the two services; eo that tis quito correot to may that tho prineiplo of value 18 in thoe services ronderod nnd recoived on account of tho.productions oxchanged, rather than in productions thomselvos, . To give an idgs of intorst and ita mechaniem, allow mo to make use of tivo or throe anecdotes. But, first, I must say a “ FEW WOLDS UPON OAPITAL. There aro somo persons who imagine thnt capital is monoy, and this is precisely the reason why they deny itsa productiveness; for, 88 5 ‘Thoro BOYS, dollars are not endowed with the power of roproducin, thomsolvos. But it i not truo that capita and money aro tho samo thing. Boforo the dis- covory of the procious motals, thers wero capi- talists in tho world ; aud I venture to say that nt that time, as now, overybody was a copitalist, to a certaln oxtont. g What is capitel, thon? It is composed of throo things ¢ First—Of tho materials upon which mon op- orate, when theso materials have alrondy a valuo communicatod b{ some human effort, which hes ‘bostowed upon them the principles of romunera-~ tlon—waol, flax, leather, silk, wood, otc. Second—Ingtrumonts ' which -aro - used for working—tools, machines, ships, carriages, etc. Third—Provisions which aro consumed during labor—victuals, clothes, houses, cto. ‘Without theso things, the labor of man would bo unproductive, and almost void; yet these vnxz“fmngs haye roquired much work, especially at flrat, This is tho reason that 8o much valuo has been attached to the possession of them, and alao that it is porfectly lawful to oxciango and to goll them, tomake aprofit of them if used, to gnin remuneration from thom if lent. jow for my anecdotes. *" THE BACK OF CORN, Mathurin, in other rospects as dpoor a8 Job, and obligod'to earn hig broad b{n iy labor, bo~ came, nevertheloss, by somo inberitonco, the owner of s fine piaco of uncultivated Iand. Ho was oxceodingly anxious to cultivato it. * Alas|" sald ho, “to mako ditohes, to raise femces, to break the goil, to clear away the brambles and stonoes, to plough it, to sow it, might bring me a living fn & yoar or two ; but cortainly not to-day or to-morrow, It is impossible to sot about farming it, without previoualy saving some pro- visions for my subeistence until the harvest; and I koow, by oxperionce, that preparatory Iabor is indispensable, in order to render presont Iabor productive.” Tho good Mathurin was not contont with g thoso roflcctions, e regolved to work by tho day, and to savo some- thing from his wages to buy a spade and o sack of corn; without which things, he must givo up his fino agricultural projects. Ho acted so well, was 80 activo and steady that ho soon saw him- golf in possession of the wished-for sack of corn. “1 ghall tako it to tho mill,” said he, *‘and thon Ishall havo -enough to live upon till my fleld is covored with o rich harvest.” Just ns ho was atnnlnF, Joromo camo to borrow his treasure of im, ““If you will Jlond mo this sack of corn,” said Jeromo, *you will do me a great service ; for I have some very lucrative work in view, which I cannot_possibly undortake, for want of rovisions to live upon until it is finished.” was in the same caso,” answored Mathurin, “and if I bave mnow - socured bread for soveral months, it is at tho oxponse of my arms and my storaoll. Upon what principle of jus- tico can it bo dovated to tho roalization of your entorpriso instend of mine 2" You may well boliove the bargain was a long ono. Howover, it was finished at length, and on these conditions: First—Jorome promised to give back, at the ond of tho yoar, a snok of corn of the same qual- ity, and of "the same woight, without missing a ulnglo grain, *This clauso 18 perfectly jusc,” sald he, *for without it Mathurin would give, and not lend.” Secondly—Ho engaged to deliver flve pounds on cvery hundred. *'This clause is 0o less just thon the other,” thought he; *for without it Methurin would do mo & sorvice without com- peueation ; he would infiict upon himeelf a pri- vation—ho would renounco his chorished enter- prise—he would enablo me to on]o{ mine—he would cause me to enjoy for s year tho fruits of his savings, and all this grnh\ltunel{. Bluce he delays tho oultivation of lus land, since he ena- blea me to renlize a lucrative labor, it is quite natural that Ishould let Lkim partako, in o cortain roportion, of tho profits which I shall gain by Phe snorifico of his own.” On his sido, Mathurin, who was somothing of &_socholar, mado this caloulation: *Bince, by virtue of "the first clause, the sack of corn will rotarn to me ¢ tho ond of agnnr "' he eald to himaelf, * I shall Lo ablo to lend it again ; it will zoturn {0 mo at tho end of tho sacond yoar ; I muylend it sgain, aud o on, to all ctarnity, Howevor, I cannot douy that it will have boen eaten long ago. It s singular that I should be porpotually the owner of & sack of corn, although tho one I liave lont has beon consumed for over, Dug this is oxplained thua: It will bo consumed in the sorvico of Jerome, It will put it into the power of Joromo to produco a suporior valuo ; and, consoquontly, Jerome will be able to reatoro mo & eeck of corn, or tho value of it, withous having suffered tho slightost InjurY; but quilo tho contrary. And as regards myself, thia value ought to ba my Ympurty a8 long as I do not consumo it myralt; if 1 had nsad it to clear my land, I should Lave roceived it agamn In tho form of & fine harvest, Iustoad of that, T lend it, and shall recover it in tho form or ro- payment. *From tho sccond olanso, I gain another lece of information. A4 the end of the yenr, shall bo in possession of flye pounds of corn ovor the 100 that I have just leunt, If, then,I woro to continuo to work "by the day, and to savo a part of my wagos, as I have boon doing, in thoe courso of timo I should be able to loud two snoks of cornj thon throe; then four; and whon I should have gnined o suf- ficiont numbor ~fo omable mo to live on theso additions of flvo pounds ovor_and above eaoch, I shall bo at liborty to take a little reposo in my old age, But how is this? In this caso, shall Inotbe living ab ¥ do not think 16 givos o vory comploto figgmate 4 thg exponto of olhiera ? No, certaiuly, for it s baon provad that in londing I porform a sorvico; I complato the labor of my borrowors; and only doduct triling patt of the oxaoss of pro- duotion, duo to my londings and aavinga, 1t is -a marvelous thing, that & man mny thus realize leisuro which injures no ono, and for which he eatnot bo onvied without [njustico." & © ' TIE HOUSE. : Mondor hind s house. In bullding {t, ho had oxtortod nothing from any one whatover, He owed it to his own [mrununl Inbor, or, which is the same thing, to labor justly rewnrded. His firat oare was tn make a bargaln with an- archi- toct, in virtuo of which, by moans of o hundrod crowns o yoar, tho Intter angagod _to . kaop _the house in conatany good repair. Mondor was_nl- roady congratulating himself on tho hnpsy days which he hopod to spond in this rotreat, declared, ancrod by our Constitution. Dut Valorius wished to malo it his residonce, * How can you think?® of such a thing ? ".uaid Mondor; ‘it js I who liave built it; it has cost mo ton years of painful Iabor, and now {ou would onjoy it!” " 'Thoy. agreod to rofor .tho mattor to' judges.,” Thoy chosoe no profound cconomists,—~thore were nona sioh in tho country. © Dut thoy found' gome just and sensible mon; it all vomes to tho same thing:. politieal cconomy, -justice, good sonso, are all tho same thing..” Now horo is the docision made by the judges: It Vatorlus; wighes to uccllp{ Mondox's houso for a yoar, he I8 bound to submit'to throo conditions, The first Is, to zfluz at tho end of the yoar, snd to rostoro the houso in good repair, saving tho ln-. ovilable daeay resulting from moro dnration. Tho recand, to rofund to BMondor tho 800 francs, which tho ; fattor pays annually to tho arohitook: to ropair tho lnFm'lnu of timo; for theso in- uries taking place whilst. tho houseis in the sorvice of Valerius, it s porfootly just thatho should boar the consequences, The third, that ho should render to Mondor a sorvico equivalont to'that whioh ho roceives., Asto this oquival- enco of gorvices, it must Lo froely dlsoussed botween Mondor and Valorius. . THE PLANE, A very long timo ngo thore lived, In & poor vil- Ingo, & Joiner, who was a philosopher, as all my horoos aro, {n thoir'way, ~ Jnmes worked from morning till night with his two atrong arms, but his brain waa not Idlo for ll that, Ho was fond of roviowing his actions, their causcs, and thoir offacts. Ho sometimoa sald to himsolf, *With my hatohot, my saw, naud my hammor, Ican mako only conrso furniture, and- can on\fi got the pay for such. If I onlyhad o plane, I should ploago my customors moro, and thoy would pa; me moro. It is quita just; I can only expeol sorvices I}mpnrtlnnefl to those which I ronder myt[mln ‘o8] I am resolved, I will make myself 8 plane. Howevor, just as he was setting to work, Jamos reflectod furthor: ‘I work for my cus~ tomers 800 dnys in the year. If I give fen to mnniu%mg plane, supposing it lasts mo o year, only 24 nys will romain for me to malke my furniture. Now, in ordor that I bo not tho loser in this matler, I must gain honooforth, with the helr of the xplmw. 88 much in 200 doys as I now do 10 800. 1 must oven goln moro ; for unloss I do 8o, it would not bo worth my while to venture upon any innovations.” James began to calon- lato, Ho eatisfled himsolf that he should sell his fimished ‘furnituro ata price which would smply compensate for tho ton days dovoted to tho plano ; aud whon no doubt remained on this point, ho 8ot to work, Ibog the roader to ro- mark, that the power which oxists in tho tool to incroase the productivoness of Iabor is the basis of tha solution which follows, At tho end of ton days, Jomes had in his pog- acssion sn admirable plane, which he valued all the more for having made it Limself. Io danced for 1o§(—m-, liko tho girl with horbasket of ogge, he reckonod all tho profits which he expeoted to derive from theingonious instrument ; but more fortunate than sho, ho was not roduced to tho necessity of snying good-byo to calf, caw, ;zllg, and oggs, togotior. ~ Ho was building his flud coatlos 1u tho air, whon ho was interrupted by hia ncquaintance Williom, s joiner in the nelgh- boring village., Willlnm having admired the plane, wag struclk with tho advantogoes which might bo gainod from it. Ho said io James: W.—Yon muet do me a service. J.~What sorvico? F ‘W.—Lond mo tho plano for o yoar. As might bo oxpeoted, James, ot this proposal, did not fail to cry out, ‘‘How can you think of euch o thing, Willlsm? Well, i T do you this aervico, what will you do for me in réturn ? W.—Nothing. Don't you know that a loan ought to bo gratuitous? “Dont you lnow that capital §s naturally unproductive? Dow't you know fraternity hna baon prodiafined? 1t You only do mo o sorvico for the mako of recaiving one from me in return, what merit would you have? J. J.—William, my friend, fraternity does not monn that oll the wacrificos aro to be on ono sido; if 80, I do not'sco why thoy should not bo on yours. 'Whether o loan should be gratuitous I don't know; butIdo kuow that if I wereto lend you my plano for a year, it would b givin, it to _you. toll you the truth, thatis nof what L' madoe it for. W.—Woll, wo will sny nothing about the mod- ern maximé discovered by the Booialist gontlo- men. Iask you to do me nsorvice ; what eor~ vice do you ask of me in roturn ? J.—Firat, thon, in &_yoar, tho_plane will bs dono for, it. will bo good ‘for nothing. 1t is only {at that you should lebmo Lavo anothior exact- ly liko it; or that you ehould give me money nnnu{;h to got it ropaired; or that you should supply me tho ten days which I must dovote to replacing it. 2 \.—T'his ig porfectly just. I submit to those conditions. 1 engago to roturn it, or to lot you liavo one like it, or the value of the same. think you must be satisfied with this, and cnn roquire nothing further. .—I think othorwise. I made the mysolf, nnd not for you, I expooter gomo hduntago from, ft, by my worl being betror finished snd better , by an improve- ment _in my condition. Wnat reason is there that I should mako tho plane, and you should goin the protit? I might na well nsk you to givo mo your saw and hatchet! What a confusion! Is it not natural that ocach should keep what he o made with his own bands, as woll as his hands thomselves? To uso without rocom- penso the plano of another, can this be called fratornity ? W.—But, then, I Lave agrecd to roturn it to you at the end of a year, as well polished and as Bharp a3 it is now. J.—We have nothing to do with next year; wo nre sposking of this year. I have made.the plano for tho eakie of improving my work and my condition : if you mereiy return it to mo in a yoar, it is you'who will” galu the profit of it during the wholo of that timo. I am not bound to do you such a sorvico without recoiving any- thing Trom you in roturn ; thorefore, if nou wish for my plano, indepondantly of theontira restor- ation nlrendy bargained for, you must do me a service which we will now discuss; you must grant mo remuneration. And this was done thus: William granted a remuneration caloulated in such a way that, at tho end of tho yonr, James roceived his plano quite now, and’in addition, & comnponsation, con- sisting of & new plank, for tho advantnges of which o had deprived himeelf, and which Lo had yiolded to his friond. 1t wes imipossible for any one acquainted with the transaction to discover the slightost trace in it of opprossion or lujuatica. ‘Tho singular part of it is, that, at tho ond of the year, tho plano camo into James' possession, and ho lont it again ; rocovered it, and lent it o third and fourth time, It has pasaged into tho handa of his son, who etill londsit. Poor planc! how many times it has ohanged, somotimes ita blado, somtimos its handle, 1t {8 no longor tho 8amo plane, but it has always tho same valuo, at lonst for Jamos® posterity, Workmen! lot us examinine into thoso little storios. 1 maintain, first of all, that the sack of corn oaud the plane are horo the type, the modol, a faithful roprosontation, thoe BYDMROL, OF ALL OAPITAL 3 08 the five ponnds of corn and the plank are tho typo, the model, the represontation, thio symbol, of ofi intorost. ' This grantad, the following aro, it scoms to me, o sorios of cousequencos, tho Justico of which it it impossiblo to dispute, First—If tho yielding of a plank by the bor- rowor to the londor is & nntural, equitablo, law- ful romunoration, thojust prico of a ronl service, we may concludo that, as a goneral rulo, it is in tho nature of capitul to produce intorest, When this capital, s m tho foregoing examples, takos the form of an instrument of labor, it is oclent ouough that it ought to bring an sdvaotage to its posscasor, to him who has dovoted to it his timo, his braing, and his strength., Otherwiso, why should wo lave mndo it? No necessity of lifoonn bo immedintely satisflod with instru- monts of Inbor ; no ono eate plancs or drinks 8aws, excopt, iudeod, ho bo a conjurer. Ifnman dotormines to spoud his timo in the é)l‘olluatlnu of theso thiugs, o must hevo boen led to it by tho considoratlon of tho powor which theso instruments add to his powor; of the timo which thoy save "him; of the por- fection ond vapldity whioh thoy give to his labor; fn a “word, of tho advan- togos whicts thoy prooure for him. Now, theso advautagon, whioh hiave been proparcd by labor, by tho sacrifioo of thmo which wight have boon usad in n moro immodinte mauner, are wo bound, a4 soon u thoy are reudy to bo onjoyed, to ¢ CONFEI TIEMN GRATUITOUBLY upon nuother? Would it be an advanco in soclnl oider, if the law decided thus, aud citizons shoull pay ofielnls for causlng suoh a lnw to bo oxecuted by forco? I voulure to eey, that thore i not ouo amongst you who would support it, It would be to logalize, to organize, to systomatize injustico Itsels, for it would bo procla; lano for to gnin thore aro mon born to ronder, and .others born to rocoiva, gratuitous .servicos. Granted, then, that intores ust, natural, and Iawful, .Second—A. second consequonco, not loss ro- .markablo than the former, and, it posstblo, still moro nonolua(voe to which I call your attontfon, 18 thist Intorost is A |7 * * 'NOT INJURIOUS TO THE IORROWER, . 1 moan to say, tho obligation in which the bor- irower finds’ himsel? to pay n remunoration for .thouso of- capital, cannot ‘do any harm to hig ‘condition.. Obsorve, in fact,.that James nnd’ 'William aro porfootly £roe, a8 rogards tho tran- 'snotion {o which the plano gayo ocoaslon,” Tho transaotion cannot bo accompliskied without tho consont of tho one aa well as of tho othor, The worst which oan_happon Ig, that Jamoa may be* 1400 oxacting ; and, in this caso, William, rofusing itho losn, Yomnfns ns ho was boforo. Dy +tha . fact of his- anlj;fi to borrow, ho proves . that ho consider# it an advantago to himesolf ; ho rovos, . that aftor-overy enloulation, including: .tho remuneration, whatovor.at may bo, raquired’ of him, ho _atill finds it moro profitablo to bor- row than not to borrow. - Ho only dotermines to ,do 8o bocauso ho bna compared the inconvon- ‘1onces with tho advantages. Ha haa caloulated . that the day on which ho returns the .{vllmo, 80 companied by the remuneration agroed upon, he . will baye effected more work, with tho enme: :Inbor, thanks to this tool, . A profit will remain ' to him; otherwise lio would not have borrowed. Tho two gorvicos of which we aro sponk- ing are oxchanged sccording to tho law which governs all exchangos, tho Inw of supply and do- mand, The claims of Jamos have o natural and. impassablo limit. -This ia the point in which the. romuneration doninnded by him would absorb all tho ndyantage whioh Willlam might find in mak- | ing uso of o plaho. In'this caso, tho bon’owlufl would not take pleco, . William swauld bo boun eithortomakea plane forhimself, or to do without ong, whioh would leave him in his originnl cone dition, Heo borrows, bocauso ho gains by bor- rowing. I kuow vory well what will be told me. You will say, Willlam -may bo decelved, or, por- aps, ho may bo govornod by necassity, und bo obliged to submit to a harshIaw, - It 'moy bo 80, As to orrora in caleulation, .they ‘belong to tho infirmity of our nature, and to ar- §\m from this ngainst the transaction in quos- ion is objocting tho possibility of loss in all im- nginable transactions, in overy human act. Error is an ncoldontal fact, which is incossantly rome- died by oxperlonce, In short, evorybody must gunrd.ngainst it.’ ‘A8 far as thoso hard nocosui- ties aro concorned, which forco persons to bur- densome borrowings, it is cloar that' TILESE NECESSITIES EXIST PREVIOUSLY to tho borrowing. If Wiliam is in n situation in which ho canuot possibly do without a plano, - nud must borrow ono at any Eflce, doos this sit- uation rosult from James having faken the trouble to mako the tool ? Doos it not oxist in- dopondently of this ciroumstance? However harsh, howoyer sovere Jamos may be, he will nover rondor tho supposed condltion of William worso than it is. Morally, it is true, the londer will bo to blamo; but, in an oconomical point of viow, tho loan itsolf can never be considered re- sponaiblo for provious nocossitios, whioh it has not created, and whioh 1t relieves, to n cortain extont, But this proves something to which I shall ro- turn, Tho ovident intorosts of William, repro- senting hore tho borrowers, thore are many Jomesos and glnnes. In othor words, londors aud capitals. - It is vory evident, that if William oan ssy to James, ‘“Your domands sre exor- bitant: thoro fs no fack of planes In tho world ;" ho will be in a botter situntion than it Jamos' plano was tho only ono to bo borrowed. As- suredly, thero i no maxim moro true than this— servico for servico, But lot us not forget, that 1o sorvice has fixed and abeoluto value, com- ared with .othors. The contracting parties are ros, Each carries his roquisitions to the far- theat possible point ; and tho most favorablo oir- cumstance for thess requisitions is tho absenca of rivalship. Hence it follows, that if thoro is o olnss of mon .moro intorosted than any other in the formation, multiplication, and abundance of capitals, it is ¥ MAINLY THAT OF THE TODROWERS, Now, siuco capitals can only be formed and in- oransed by the stimulua and tho prospact of ro- munoration, let this class undorstand the lngury they aro inflicting on themsolves, whon they proclaim that credit should bo gratuitous, when they proclaim against the protonded tyranny of capital, when they discournge savivg, thus fore: ing capitals to bocomo scarco; nnd consequently inloreats to riso. Third—The anecdoto 1 havo just related on- ables you to ux!flnin this apparently singular phonomnouon, whickis termed tho duration or i PENFETUITY OF INTEREST. - Binco, in lending his plane,. Jamoa has haon able, vory lawfully, to mako It s condition that it should Do roturned to him, st the ond of a yoar, In ths eamo stafo in whioh it wns when ho lont it, is it not evi- dont that ho may, at the expira- tion of .the torm, lond it'ngain on the same con- ditions. If hie rosolves upon thoe latter plan, the planc will roturn to him pt the ond of every yoor, and that without ond. James will then béinn condition to lend it without oud ; that is, homay derivo from it aporpotual intorost, It will bo gaid that the plano willbo worn out, Thatis true; but it will bo worn out b?' tho hand and for the E:‘oflk of the borrower. The lattor has taken to account this gradual wosr, and taken upon himsolf, =as he ought, the consequences. Ho has rockoned that ho ehsll dorive from this tool on_ advantage, whioh will allow him torestora it in its original condition, after hoving realized a profit from it. As long a8 Jomos does not use this oapital himeolf, o for Lis own advantage—ns long a8 he renounces the advantages which allow it to be restored to its original condition—ho will have un incon- toatablo fllgl\t to havo it restored, and that in- dosnndnut y of interest, bserve, bosides, that if, as I believo I have shown, James, for from doing sny barm to William, has done him o service in lending him his plano for & yoar; for the same reason, he will do no harm to asecond, a third, o fourth borrower, in the snbsequont periods. Honce {Dll‘mfiy understaud, that tho intorost of o capi- sl is a8 natura), ns fnw(\d, a8 usefal, IN THE TIOUBANDIH YEAR, a8 in the firat. We may go still furtber, It may hoppon that James londs moro than o single plane. It is possible, that by menna of work- ing, of eaving, of privations, of ordor, of activi- ty, bo may como to lend » multitudo of planca and saws ; that is to eny, to do n multitude of sorvices, Iinsist upon this point—that if the tirat loan hes boen a social good, it will b tho samo with all the othors ; for they aro all simi- lar, and basod upon the samo {:rlua[plo. At may happen, then, that tho amount of all tho romu- noration recoived by our honost oporative, in ox- chauge for servicog rondered by him, muay suffice to maintein him, In this caso, there will bo a man in the world who has a right to live without working. X do nob eay that ho would be doing right to give himself up to idlencss—but I eay, that bo has o right to do so; and if ho doos so, it will bo at nobody's ex- ponse; but quite the contrary, If sociely at all undorstands tho nature of things, it will acknowledge that this man subsists on ser- vicos which ho receives certn.inl{n(n we all do), but which he lawfully recoives In oxohango for othor servicos, which he bimself has rendered, that ho continuos to ronder, and which are quito ranl, inasmuch as they aro freely and voluntarily accepted, As long 88 wo soe nothing passing from hand to hand, in the charactor of loan, but provisions, malerials, instruments, things -indispensablo to the productivenass of labor itself, the idouss thus far oxhibited .will not find many opponents, ‘Who knows, even, that I may not bo roproached for having modo great_effort to burst whatmay be said to bo an open door. But as soon a8 OABIL MAKES IT8 AFPEARANOE 08 the subject of the transaction (and it is this which appears almqst always), immediately a crowd of objootions ore raisod. ~ Mouey, it will be said, will not roproduce itself, like your saclk of corn'; it doos not asstat labor, liko your plane ; it docs not afford on immodiato satisfaction, like your house. It is incapable, by its uature, of rodicing ntorest, of multf&lylng ituolf, and t}m romuneration it domands is s positive oxtor- on. ‘Who cannot oo the sophlstry of this? Who doos not gee that oash is only o transiont form, which mon give ab tho time to other values, t raal objeots of usofulness, for tha solo objeot of faoilitating thoir arrangemonts? ‘In tho ~midst of soolnl com‘vllcmonn. the man whoisinn conditlon to lond, scaroely over Las tho oxact thing which the borrower wants, Jamos, it s truo, has & plaue; but, perhaps, William wants o 8w, Thoy oannot nogotiate ; tho transnotion favorable to both cannot’ take place, and then what happens? 1t happous that James first ox- ghauges Lils plauo for money; ho londs the mouoy to Willinm, and Willlam oxchatges the monoy for a saw. Tho transnotion s no longor & eimplo ouo; it s deoomposod into two parts, But, for all that, it JIAH NOT ONANGED I1Td NATURE ; 1t still contulus all tho elemonts of & diract lonn, James has atill got rid of o tool which was uso- ful to bhim; Willinm has still recolved an in- strument which perfoots his work and incrouses Liis profita ; thero is still & Borvico rondored by tho londer, which ontitlos him to recoive an oquivalent sorvice from the borrower ; this jtunt balancoe is not the less eatablished by froo mutual burgaluing. Tho vory natural oblfgation to ro- store ub tho ond of " tha term tho entira valte, still conatitutos tho principlo of the duration of interest, - Atthoond of a yoar, says M, Thore, will &uu find an additional crown inabagof a hundrod pounds ? DECEMBER 28, 1873, No, certainly, if tho borrowor puts the bng of £100 on the phoelf. In ruch n'enso, noithor tho lano, nor the eack of corn, would roproduce homdolvos. Dut it Ia not for tho sake of lonv- ing the money In the bag, nor tho plane on the hoolt, that thoy ara borrowed, Tho plano ia bor- rowod to bo used, or tho money to proouro & plano. Andfif itis clunr!g proved that this tool conablas tho borrower to obtain profits which he would not have made withont it, if it i8 proved .that the londor has ronounced creating for him- aolf this axcoss of profits, wo moy undersiand how the atipulation of & part of this oxcoss of rrnlrlli]u in favor of tha londor I equitablo and awful, Iguorance of the true Enrt ‘which cash plays in human transactions, 18 tho sourcs of THE MOST PATAL ERKORS, . 1 intend dovoting nn entiro pamphlot to this sub- cot. Jrom what wo may fufor from tho writ- 8 of M. Proudhon, thnt which has led him to think thnt gratuitous orodit was o-logical and definite conscquenco of soeinl progross, is the obsorvation of the phonomenon which shows & docrensing intorost, almost in direct proportion to the rata of _civillzation, In “barbarots timos it is, in fact, 100 por cont and moro. Then. it désconda to 80, 00, &0, 40, 20, 10, 8, 6, 4, and por cont. In Holland, it hns ovon boon'ng low s 3 por cont, Honeo it s conclndad, that * {n pro- ortlon a8 msocloty comes ‘to perfeotion, it il descond to zero by tho timo civilization is comploto. In other words, that which char- noterizes socinl perfoction is tho gratuitousnoss of crodit, ‘'When, therofore, wo shall have abol- ishod intorest, wo elall havo ronchod tho last stop of progross.” This 18 moro nn{bhlncry, and a8 sugh false arguing moy contributo to xonder, popular the unjust, daugorous, and DESTRUCTIVE DOGMA that credit should bo gratuitous, by raprosenting it 8 colncidont with sociol porfoction, with tha ronders . permission I will examine, in a fow words, this now view of the question. What is inferest P aftor o froo bargain, by the borrowor-to tho lender, in remuneration for tho sorvice ho has recoived by tho loan, By what law is the rate of those romunorativo sorvices catablished ? By tho gonoral Inw which rogulates the equiva- lent of all sorvices; that is, by tho law of supply and domand. Tho moro caslly o thing is procured, tho smaller i the sorvico rondered by yielding it or londingit. Tho man who givod mo n glaes of wator In the Pyronocs doos nob rendor mo 80 ‘ont o sorvico o8 Lo who allowa moono in the osort of Bahara. If there nre many plancs,. sncks of cdkm, or houkss, in a country, the uso of thom is obiained, othor things belng equal, on more favorablo conditions than if thoy were fow; for the simplo rongon, that the lendor ren- dors in this cnso s smaller relative servico. Tt is not surprising, thoroforo, that the moro sbundnnt enpitals arg, the lowerls tho intorest. I8 this saying that 1t will ovorrench zoro ? Noj; bocauso, I repoat i, the principlo of remunora- tion Is in tho losn, 'To say that INTEREST WILL BE ANNINILATED, 18 to any that thoro will nover bo any motive for snving, for donying ourselves, in order to form now capitals, nor even to presorvo the old ones. 1In this caso, tho wasto would immedintely bring & void, and interest would dircctly renppear. Inthat, tho nature of the services of which wo aro epeaking docs nob differ from any other. Thenks to industrinl progress, a 'pair of stockings, which uscd t0 bo worth Bix {raucs, hns successively beon worth only four, ' threo; and two. No ono can Eny to what point this valuo will doscond ; but wo oan afirm that it will never reach zero, unless the stockings finish by flmduu&ng thomselves spontancously. Why? Bocause the principlo of remunoration is in labor; becauso ho who works for anothor rendors a servico, and ought to roceive a service. If no ono pald for stock- ings, thoy would ceaso to be made; and, with tho scarcity, the prico would not fail to ro- appear. - "ioro are countries whero people apply them- solyas to inorensing tho izo of horsos, or dimin- ishing in shoep tho sizo of the hend, Itis im- possible to say precisoly to what point they will arrive n this, * No ono can say that he e’ scen tho largeat horso, or tho smallest sheop's hond that will ever appear in the world. But ho may safely sny that tho sizo of horses will nover at- %ain infinity, nor the hoads of sheop to noth- ng. In tho samo way, no one can sny to what point tho prico of stockings nor tho interest of capl- tals will como down'; but wo may enfely aflirm, when we know tho naturo of things, that neither tho one nor the other will over arrive at zero, for Iabor aud capital can no more live without recompeuse than a sheep without a Lead, The arguments of N, Proudion reduce thom- golves, then, to this: sinco the most skillful sgriculturiats aro thous who hove roduced tho heads of sheep to the smallest size, wo shall Davo arrived at tho highost sgrioultural porfoo- tion when gheop bave no longer any hends. Therefore, in’order to realize the porfection, let us bohead them, —_— Monry Ward Deccher, From an Atlanta Horald Letter. Aftor an introduotory hymn by the choir, Mr. Boochor says & short prayor, usually not moro then holf a minuto long. .‘Chon ho reads o ““Jos- son," aud tells the choirwhat hymu to sing, Io does not ** give out" tho hymn; he Bimq_,l{ reads tho number of the Lymn, nud takes hls sent. ‘When the hymn is douc with, Mr, Boechor rises and preaches magnificently, Tho ouly elogant thing in the room is the speaker's atand ; a small platform, of about a foot olovation, with o sofn at tho biack part of it, and a small table in front. On the speakor's loft is snother low tablo, on which, overy Bunday morning, is placed o very largo, frosh, and tastofully-arranged-hou- quet’ of ‘flowors. Whon I say *very largo» T moan s big as s table. On Mr. 'Boeohor's right is o tall, slondor vago with tlowors; the vaso looks like n stalk from which spring many kinds of rich and varied leaves and blossoms, Tho only awkward figuro about the stage iz Mr, Beoolor himaolf, Ar, Boecheris large and docidedly lub- borly, His logs push out bebind, Ithinlc ho is too weak in tho knoos. You aro constantly afraid the kneoa aro going to give way and loave AMr. Beechor in a position that you bave seen clowns in sometimos, and which poople who are broko are sometimes'snid to ocoupy, theorotical- Iy, Mr, Boccher's clothes novor fit him, and ho al'vays seoms to bo bungled in an overcont. Alr, Beacher, 18 _onoor two of the roaders of the Herald moy know, has hair only o shade darker than blonde, andhe wears it long and thin, Mr. Boochor hes a noblo head, and n brlfht,' sunny {face, full of aympnthiy and olectrioity. It face to romind you of fight wines, only there is & certain quirk about_tho corner of ono eya that flvoa it & small, dashof gingor-pop. I think r, Boochor livos well—onts a groat desl, How It is tho sorvico rondored, [’ 5 éolml him, lured him to tho race-conrse ana tho otting-room, and beforo ho had sttained his majority had borrowed his nama for thousands ; money-londers and usarers hunted him, and tho losnos nud oxtravagances of othors involved him in liabilitios whioh sorlously ombarrnssod ovon his colossnl fortuno. It waa littlo to bo wondored at that In tho courso of & vory fow yoars tho pecuniary affalrs of the Duko of Hamllton woro known to be in inextricable co fusion, Actlons and judgmonts In England, s quostrutions in Beotland, followod In rapid sua- coesion, Tha rent-roll was {naufliclent to meat accumulating omorgencios, and the owner of theso vast possossiona was withont an income adequato to the support of hin position, Affairs wero ot & doad look, Tho Trustoos appolnted by iho Duke's fathor to ndministor tho ostates, men of honor and high position, wero inndequate to donl with tho flunncial pressuro of the moment. At this ovorwholming crisls, by tho wish of tho Duke and parties Interested, tho trusteoship . was ro- signed, and the means of oxtrleation from the thon almost hopelesa state of affaira wore cons fidod to an agent of great financial rosonrcos and oxporienco, To him also was ontrusted tho ox- olusivo mnnnf:mnnf. and control of the prop- orty; and It i but justice to Mr. Honry Pad- wicl to stato that, by his falthful and judicious stewardship of thoso princoly eatatos, ho has so improved thom, by developing thoir mineral and* othor rospurcon, “that the inoumbrances have beon entirely oxtinguishod; that all the porson- al engagomonts of the Duke, whethor his own or for othors, invo boen houorably discharged : that o rontal -of £140,000 o yoar hos hoon curod ; and tho rosult of his Boven yoars' p sonal ndministration has boen to place tho pos- sossions of the Duko in the foromost rank of the riohost Inheritauces of England.” —_— tho consent of all | RAILROAD TIME TABLE, TRRIVAL ) DEFAFAORS OF AT "l)carlumgmy or mrz':;?non ]{«‘4 M‘I’Rn,—-\‘ anfii’:: pted, ¢ Bnuday oxcoptod lont 0x00] . 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Yermont.... Connecticut . Georgia and Floridn 12| Kansas.. Alabama.... ..., 22| Nebraska.. Mississip 32! Ratos of Advortlsing for tha List of 1,800 Newspapors: $1250 PER LINE, PER INSERTION. Liboral discounts allowod on sums of ovor 850. This List will bo soparated Into three or six subdi- vistons whon dosirod, and sdvertisements recelved for one ormoroof tho subdivisions, butnot for a portion of anyonosubdivislon. For separate Lists, or any othor Informatlon, addross THE NEWSPAPER UNION, 114 Monroc-st. Chicago, Il OCEAN STEAMSHIPS. 1y HIGNG0. MILWAUKEE & Sr. PAIL RAILWAY. S5 Souli Clarivats apposis Shermem Hiowse antaf Depore Leave, | Arrive, Milwaukoo, Peaielo du Ohlen, & Cre Day Ex| La e el ukee, Bt, £ olly Night Brprosa.eoesses 1 9:30 8, m. {111:008, m, *6:00 p, m.|* 7:65p. m. 110:40p,m. " 4:16 p. m, Indiancav., and Sicleentheat, 18— Foof Lake o Gone ot S 0.8 Clark Arrive, s & 8, £ B Moitand Txprose... Dhine s giroatel Faso o i Klans Paolle Taat Lina, 7o¢ Oraks avonworth, oroph 1D Dbt & Sl Oa g ot Eaolit Bign: Rxp, 8 o':fi;-::-.. PR Ohison & 8L, asonh K| Downor's irova Accommod; Downar's Groy om: Toxas Exprest *Tix, Sunday, ILLINOIS CENTRAL RAILROAD. Depot foot of Lake-t. and fool T altees 19 Teandotohaten ey Glagse, Leondst. Tickt Leave, Arrive, §t. Lonls Expro H Bt Louts Fast & Gjro Mail, oo 5 Gaird daprs 18 Bpringtield F: 815 210 200 4 f; 40 i 1 ydo Parkand Oak Woods., * 5: Hydo Bark and Oalk Wood : 1340 Pack and Oalk Woodasesrses 11 :10p, m. (@) Runs to Obampalgn on Saturdays. CHICAGO & NORTHWESTERN RAILROAD. City affces, corner andolyh and LaSaltests, 2 s, corner Hadtsan " 31475 Canal 2 Grogd By & gar p.m"fi. o arauolte Fapros ”&dl:‘l}fl & \Vlms.nn NATIONAL LINE, 'NOTIOE-This Company takos thorisk of insurance (up to 000 In gold) on oach of itssteamors, thus giving prssougers tho boat ossibla guaranteo for safols an avoidanco of danger at sea. Tho most_southerly routa has always boon adopted by R R - Ta 13 ang 2 L' s from Plors Noa, 41 aud 47, North Rivor , Now York. Spaln Ghan Egyp! [an. 17 5 $56¢ Endon (diact) overy fortulght. in Pnvsnae, ST0, §80 nnd S90 Curroncy, G D e, 850 QLS S Ourrency. Rotuen tiokots at roducod rates. Passongors bookod to it Bloatnanive of this o Aro dhe. Degiaida tro fags: o 3 Drattaon Great Belato, Trolaad, ond 3):0 ‘Gontlnont, at Grtheast comor Olaric ud Jtnndolonate, o Sivorman itouses, Obioazo, WILLIAN MAOKLISCRN, Gonoral Westors’ ARout. CUNARD MAIL LINE. ESTABLISETED 1840, — Steam Botween Now York, Boston, Liverpool, Queenstown, Glasgow, London and all British Points, From Now York every Wednesdny. From Boston every Baturday. * Cabin I' , 80, 8100 and 5 e fon T kers . odnnd Tasony, 001 Steeraga Passago, 63} ourrancy. Paat bookad 1o and fronall parts of BightDraftson Gront Jiritain and T PH. DU VER] X G N. W. oor. Olatk a an. 24 “Jan, 31 sengors and frolght po 4t lowest ratos. nd, West'n Agant. nd Handolohaia. ‘a—Dogot cormor of Wells and KT 8 Dopot corage of Cannl and Kinzio: WL BYENNETT, Gone Pass, Agent. COLORADO, KANSAS & NEW MEXICO. " Ticketand Erelght Ofice, 71 Clarkeit, Spoofal Inducomonts, Gront Now Route, A., T, & St. Folt. R G At Ao Y CHICAGO, ROCK ISLAND & PACIFIC RAILROAD. Devot, comer of VanDuren and Shermanaia, Ticket oficey Grand Pacitc fiaete T o TLeave, s Arrica, Omaha, Loavonw'th & Atohlson Ex 00 . Peru Ascommodation, Night Expross, b0, . 2 8B e - LAKE SHORE & MICHIGAN SOUTHERN RAILROAD. Depor, Yan Burensat. oot ap LaSlout, ket omees, eat corner and Kandolph-its,, = corner Ganal und Madtion-stsy ©" Gl Arrive, Mail, [ peci; Atlantle Expros Night Jixpross Bouth Obleago Acgommiodation. CHICAGD, INDIANAPOLIS & CINCINNATI THROUGH i LINE, VIA KANKAKEE ROUTE. . ! #yom the Great Central Railroad Depot, Fuot of Zalia-st. 4 Ticket afice, 121 Kandolphty, near corner Glarks 9 Salleats, corner Washinglon, and at Hlinois s 99 L Central Day E Night 3 OARRYING THE UNITED STATES MAIL Belwesn New York, Cork, and Liverpool The magnificont now and fall.poworad Stoamships of this Lino offor unrivaled accommodations toal I alnssos of passongors. Tho steamors boing ailko, travoloes suoure o great advantago of Baring oo cquitly good and olso coutd ho get to bo 8o largo and so fat, and with 80 much good rod blood in his veina ? But then, thoro ayo bi wonk knoes, that must be ao~ counted for somechow. Tho audiouce at Ply- mouth Ohurch docs not appland tho speaker when hognys o good thing, as hns froquontly boon said,—that is, thore is no stamplug or clapping of hauds, Of courso, whon Mr, Beschior soys a good thing—and ho doos very often, and in's cn})llnl way,—thero is o murmur of applause whiol fs folt all throngh the sudionco. ~Aftor the gormon comes a hiymn by the choir, and thon Mr. Boocher prays about a quartor of a minuto, Mr. Boochor, although vory liboral in his views and large in his aympathy, in still more than half on orthodoz docirinaire, Alr.Becchoristho high- eat and comploteat intellectusl and moral repro- eoutative of American orthodoxy in its tond- onoy toward froe roligion. Aund being thus tho ropresontative of transition, of courso he is rathor nogative than positive in his ideas. This i8 not so apparont in his preaching us in his writing, especially i his * Lifo of Jesus, the Christ.," Beecher's soclal influence Is immonso, Thero is probably not n man in Amorica who could havo stood up undor tho enormous prea- suro of tho late ‘‘scaudals,” DBeocher, without having mado any offort thnt the publio knows of, comos out unsenthod. Boocher has much of the demagoguo in him, Had ho not beon vnutur of Plymonth Ohurch hoe might hayvo beon I’rosidont of tho Unlted States. Nay, homay yob bo auny- how; who can tell? Ilo will nol undertako auy- thing unless ho is woll assurod of succeas, Bome time ago n committeo of workingmen triod to got him to malke n spocok at ouo of thelr musa meotings, Ho assured tho committeo, in effect, thiat ho would go, and advocnte their measures— provided, ho could be convinced beforehand that the thing would bo n success. 'The Dulic of Hamilton’s Extates. The prosent Dulo of Hamilton (whoso wod- diug was noticod xuentlig is the twolfih Duke, sud hols now in his 28th year. ' JIiy father marrled in 1843 the Princoss Mario of Badon, cousin of Napoloon IIL, At the early ago of 18 tho prosont Duko succeded to tho groat possony- fons which constitute tho Inboritauce of tho House of Hamilton, Tho Londou Morning Post uaysy V* Hamilton.Palace, with its assoolutions and traditions of centurios, crowded with tho tondor fof enoh At nilltg. OUBANIG, QRLT BRI R L RLIG: SBHIATIO, adbe: 416, BRITANNIO, Sailing frons Now York o SATUIL- , from Livorneol on 11U RSDAYE, saliing at Cork Tlarhof bothi waya. . Tintos as low o any Hratolnes linos Eor' furthor {aformation anply to Gompanys Wastorn 8:[:00, um and ¥9 South Olark-st,, noar shington, Miongo; ‘Dialta on Groat Beltain and Trelsnd from £t uwards ALPRED LAGERGIEN, Noate NOTICE. On and aftor tho 1at of January, 16, the Gonoral Agenoy in the. United Statos of tho Ueznlo Siaam Naris i Company (Whito Siar Elno) will B conduerol by i, T, 3. OIUTIS, whos. fully suthorizad 1o act on bo hinlf of sald Company. 19 Broadyny, Now York, Decombor, 1873, OOEANIG STEAM NAVIGATION GOMPANY, J. H, BPARKS, Attornoy, Balling twico & week from Now York, and carrying pass songore foall yaror ruat iritalgy Frolsad, Contipantai Lurope, nud tho Moditorrancan, Uabla from $65; Stoor- nage, British and Irleh ports anat, B30; wost . Contie nantal ports saimo o3 of hermqul‘l . All payable fu US, odreenay Anply for fal § ton at ‘th Gom- pany'a ofiices, No, 7 Howliig Groen, New York, and N. k., cornor LaSalleand Madisonsta,, Chlcago. HENDERSON BROTHERS, Agents, GUION LINE. FIRST-OLASS IRON BTEAMBiHPE, Botwoon NEW YORK and LIVIRFOOL, onlling at Queenstown, \ Carrying the United States Mail. SAFETY AND COMFORT. 5P~ Passongors hooked to and from (he prinoipal Eu- ropoan portu st lowost ratos, rafts and Lottors of Orodit {ssued on loading Banks and Baukors througliont luropo. HENRY GREENEBAUM & CO,, FIFTE-AV. NEW YORK TO CARDIFE, v line tronsuros of art, of Juxury and_tasto, standing in its mognificont dommin of 50,000 acrow; Brodrick Custlo, ou the Islo of Arran, with the fao of nlmost tho entiro woil of that romantio andbeautiful istand ; oxtonsive proporty in Llnllummvnhlrn,‘ Btirlingehire, and Butuz tho English ostato of kaston Park, in the County of BufYotk, with thelr enormous revenue, with {he caro of their mnun{;emant. und tho rosponsibility or tholr administration, foll iuto the handa of tho young heir at anago whon by law he was incapable of maling a binding contract, The young Duko was very soon surroundoed by asso~ clutos who, themsolves ruined, flattored und oa- BRISTOL, LONDON, And all Other Poiuts in England and Walas, ‘The Houth Wales At o firut.clase Steamships will sall from Pennsylvanla Raile road Whar, Jersey Clty: vflum‘?is fin JNov. 18 au stoaniiili . hro wro: vidod with ail tho letoat improanitor o ‘Somiariand convontence of Ci and Btoorago Passougors, 1first Cabin, 5 ourraus weond Uabin, $36 ourroucy; Stoor- paid Steorago oprtificatos from Oar- i ¥3. Dral fll’ £1 aud upwards, sy O s e ek Shtora: anel s Now Yori s i lovs, No. o int u Now Yorl Ve O A LY BAXTIR % T0. A, o, 11 Broadivay, hip Uompany's now MEDICAL CARDS. DR.C. BIGELOW CONFIDENTIAL PHYRICIAN, 077 ond 27 South Clark. st,, cornor Van Liuron, Chicago. (& s woll kuown by all roadors of tho fapers that Dr. 0. Bigslow s thooiior! Satsbiatod wivalelin ta Biiciao: d TWENTY YEARS UF HIS LIFE in por- RGN Bl OTAL SIS RS 1 nath sosee. ©f I 5 In both sexcs. SEPARANE PARLORS for Tadies snd poatiinion. Call, CONIESPONDUNOL CONIIDENTIAL. - Ads droas all lottors, with stamps, to Dr. 0. BIGELOW, 7 and 379 Bouth Clark-st. Dr. A. G. Olin. Tandolphat., cornor Stato. Thirty Yonr's Experionc Song oha ahiib o “v‘.‘fl}. “Privato DI ..,55:5.'mn‘:'fi’m.,(: an and Guarantaos Ouras or No Pay, His Iate worle, ** I rors of Youth," Adyloo to Young en or Old, thirt, lgctures delivored biefore tha Chloago Modical Inatitutu; Ofroular ospactally to Ladlos, two stumps. privato_apartmonts, board, and Ottico hours from 9a. m, to § P, m. CQone tatfon Kreo, DR. KEAN, - NO QURB! NO PAY1! 380 South Olark-st., Ohicago, May be confldentlally consultad, porsonatly or by mail, fr00 of shargo, on all chronio or norvous disoasos. R. J, KIAN is tho anly physiclan in tho elty who war~ rants ousos or uo pay. - Groon ook, Hlustrated, 80 conts, Dr. G. W.STANLEY, Office and Rooms at tho DRUG STORH, No. 9306 Bonth Btate-st. Dy, BTANLEY hne il long aa succcmsinl practico in Now York City n troating ERIVATI DIBEASIS: £ pasvaitoon utodiale Yiif 1o . unfariGnoio: ads_of gonoral prastion aitondod to. shiown.) boat'5asus outod foF 810 to Bige o Pna OBSTACLES TO MARRIAGE, HAPPY REELIEE FOR YOUNG MEN from tho efleat of Frcors and Abusos in aarly lifo, Maohood Rostorods Tupedimonts to Marrlage romoved, Now mothod of treate ment. New and romarkablo romodios, Hooksaud Gircus lars gont froe, in soslod envolopes. Addross THOWALD ASBOUIATION, No. 3 Bouth Nihth-st,, Philadolphia, P, an tustitutlon haviog & bigh opadition for bunor* ablo conduct and profosslonal skiil. PIANOS . Yty PRICES ACUORDING | A R TO TIMES. Y oy L TR R s - %7 \-G¥ Yam offoring from data to 7 Dol sy QLI & MEATTED PIANO. with . the latast & st iuprovomants, ) Maieal tustrumebts of aniolticos for oasli ‘5\\;:. usical fnstrumchts of any degosiptlon at gre: 3 . LAWINKKI, ‘duced pricoa, 5 Lawibkn, — TR, FRACTIONAL CURRENOCY, H A A A AN PN $5 Packages ‘ FRACTIONAL GURRENGY YOI BALIE AT TRIBUNE OFFICE. -