Chicago Daily Tribune Newspaper, January 29, 1874, Page 4

IO CINICAGU DAILY TRIBUNE. THURSDAY, JANUARY 29, 1874, TERMS OF THE TRIBUNE. TRNMS OF SURSORIPTION (PAYADLE IX ADVANOE). S1E001 ety *3:08 Partaof & oar at the same rata, . To provont dolay and mistakes, bo sure and givo Post Oftconddress in full, inoluding Stato and Connty, Temittances may bo mada elthor by deatt, oxpross, Post Offioe ardor, or in reglstorod lotters, nt our risk. TENMA TO OITY SUBACRIDENS, Daily, dolivorod, Bunidny excopted, 3 conte por week, Daily, dolivercd, Bunday ineluded, 30 oonts por weok. Addross THE TRIBUNE COMPANY, Cornor Madiaon and earborn-sts., Ubloago, 111, TODAY'S AMUSEMENTS, RY'S THEATRE-Randolph AR R TR W Atrnot, betweon to." ) BR'S THEATRE—Madicon streot, hotwvoon nf,H.?\E’J:;mx Stato. Ingagemont of Glara Morrie: “*Articlo47." AOADEnlllY OF ML;?“[ e, BBl o STakors Halutod it ot betwoon Mad- mont of Jobn K, Owens, BE THEATRE—Dosplainucastroat, botween Mad- o W AaE s Eameiet Uit Lotweoo Mad- & Mack's Minsteols, MYKRS' OPRRA-HOURE - Monrao stroot, hotwoon Dovihorn ang B Ao on Ontton, nnd’ Kombios Minsrots, " A Bllppery Day. Mluateeiey aad comi- ealition. BUILDING—Tako Shoro,, foot of A e atroet Do Tatee Dol ot Yos ** Prodigal o, RAON'S MUSEUM OF ANATOMY—Clark streot, bo- turean Madison and Monroo, 'Ebn @hicagy Teibune, Thuradny Morning, January 20, 1874. The Hon. Rufus King, of Cincinnati, has suc- zoeded NIr. Waite ns Prosident of tho Ohio Con- stitutional Convention. e —— A memorial that thoro may be no further in- flation of tho curroney has boen prosented to the Houso of Roprosentatives in bobalf of the busi- uess men and bankors of New York, Argumont on tho motion for the appointment of a Recoiver for the Cniro & Vinconnes Rail- rond was conoluded yostordsy at Springfield after » continuanco of thveo days., Tho decision of tho Court will bo givon in a fow days. arrangoments for the ropresentation of thoir raco at the Contounial Exposition. They de- cided that o Commiseion ¢hould be appoiuted to propare a history of the Jews in the United States, and of their influence on the civilization of tho age, to be exhibited at Philadelphia in 1876, — Tho State Bonato hns adopted s resolution directing tho Attornoy Goneral to exsmine the titlo to the Iake-front property in this city. Tho object of the inquiry is to ascertain whether tho United Statos, tho State, or Chicago 18 tho ownor of tho land, in order fo sottle the question whother the city will have s right to soll it, if tho ponding Park bill is passed, In giving the Finance Committce of the Teyse, at Springflold, an sccount of tho Stato funds in his posscssion, tho State Trensuror re- ported that the sum of £353,346.93 was in Now York, where it had been deposited to pay inter- est. Concerning this matter, it is oharged that no intorest {s duo fn Now York till noxt July; that it would bo unlawful to draw out tho in- terest-money befora noxt June, and that, it it were duo, no such sum as that reported would bo needed. — Fow mon havo had o better chanco of secing thiemselves as othora seo thom than the Tich- borne olaimant, His own counsel have dovated all their foreneio ability and eloquence to por- trayiug him a8 & monater of inhuman and sot~ tish vico, sinco thoy found it impoesible on any other line to Austain' hia claim. Tho proscou- tion, in tho perjury cnso against him, would not bo likely to take any more favorable view, and yesterday, in closing, the counsel spoke of him 88 ono whoso touch was fllthy, blighting, un- boly, and unnatural. Mr. Gladstono opened the Parliamentary can- ‘vass yosterday, in a speech in which he #ays tho pending election turns on financial questions, Ho in silent on tho extonsion of the suffrage to the agrioultural laborars, which it was oxpected would be a part of his programmo. Ho agks the country for a majority in the next Parlismont on the “pledgo that local taxation shall bo ro- formed, and the income tnx ropesled. This Intter relief his surplus of five millions enables bim to promise, and it makes his position in the tontest a vory strong one. Gon. 8. B. Maxey was olected United States Benator yeatordey by the Texes Legislature, Roagan having withdrawn from tho contest. At Topeka, the balloting for United States Sonator from Kanens progressod without excitoment and without result, The candidates havo boon ro- duced from thirtyto a dozon, but there is not et sufficient concentration on any one to enablo the coming Bonator to be descried, Osborn's prospects aro no longer good, Phillips and Plumb have both gained something, but ot enough to make it unlikely that tho succossful candidate may bo some one mot thought of in -the beginning of tho game. Not u word is heard from ex-Senator Pomeroy, which i a sut- ficlently suspicious circumatanee. — Ex-Secretary Boutwell has come to judgment in tho person of Sonator Boutwell, In tho de- bato on tho currency queetion in the Sonnto you- torday, Benator Bayard, in tho courso of Lus atrong argumont for specie payments, alluded to Senae tor Boutwell’s declaration that the Unitod States mugt have dishonor or fucronsed taxes, Inmalk- ing such o statement, Senatar Boutwall, ha said, had written his own epitaph es n financler, Ben- ator Morrlll, of Vermont, followed in an argu- ment for epecie payments, and an equally point- ed attack on tho lnto Becrotary of tho Treasury. He charged him with inconsistoncics, which ho proved by his votes and 8poeches ; roproachod Lim for his attitude ou tho logal-tender reserve question, and ridionled his argument that tho United States could not resumo boosuso thoy ‘wero too poor. — Tho Chicago produce markots wore rather quiet yestorday, with an easler facling in bread- #tulty, and more strongth in provisiona, Mess pork was in fair demand, and 10@150 per brl Ligher, closing at $1440 csh and $1485@ 14.873¢ weller March, Xard was activo and 5@100 per 100 1bs higher, closing at $9.25@0.00 coel, and €0.65@0.573¢ soller March, Meats were quiet and firm at 55@58(c for shouldors, U3(o for shiort riby, 80 for short clear, and 0@ 104¢o for aweet piclkled bhams. Dressed hogs wero moderatoly active and firmer, closing at £0.40@0.50 per 100 Ibs, Highwines wero quiet and strong at 970 per gallon. Flour wes dull and unchangod, Wheat was less aotive, and 1o .mur, oloaing aé $2,23)¢ cash, and 61,283¢ seller March. Corn was in fair demnnd, and » shado tirmer, closing at 68%c cash, sud BO3@50}c wollor Marel, Oats wora qulot, and 140 lower, cloning “at 423(0 cash, aud 43%(@44o sollor March. Ttyo was moro nctivo, and Jge highor, ot 80ide for regular, Darloy was quiot and firm, Live Loga woro faltly sotlve, and closod stondy nt 84.00@5.76. Tho cattle and shoop marxots wore unchanged, Wo print this morning nuother chapter in tho Aongational story of tho Franklin Bank. Of courgo it 16 & now lawsuit, Tho Assigneo of the boukrupt {nstitution Drings suit against Driggs, the ox-Oashior, and & numbor of his rolatives aud next frionds, to recover for the benofit of tho croditors cortain proporty which Briggs ne- quired during his menagoment of tho Dank, and which, it is nllegod, ho fraudulontly conveyed to brothors-ln-law and other porsons. Tho bill racites a large numbor of poouliar manipula- tions of mccounts, and, it wo may boliove the ohargos therein st forth, Mr. Brigga waa running the baulk chiofly for tho purpose of making o porsonal uso of the funds which Lo gnthored in a8 deposits, Ho hind an aptitude for discountiug his own notes which, if applied to customers, would have made the Franklin tho most popular bauking institution in Chicago. Altogethor tho new development adds at onco to tho compliention of tho Franklin Bank affairs, and to the discourngomont of the contiding per- #ona who placed their monoy under the control of Mesars. Jones, Lombard, and Briggs. Thora Is very littlo encoursgoment for tax- payers in the troatment tho House of Ropresont- atives s given tho bill prepared by the Appro. priations Committeo to forestall any oxpendituro on publio buildings which have mot yot boon bo- gun. At tho timo tho Dopartments were re queated, in tho face of a threatened doficlt of $10,000,000 this year, to roviso tholr estimatos, Buporvising Architoct Mullett stated that sovoral millions might bo saved by not constructing s largo number of public bulldings which had boon suthorized. A bill covoring this economy, pro- pared by the Appropriations Committeo, was sub- mitted to tho Houso yosterday, and, apparentlyin puzsuance of a preconcerted plan, at once referred to tho Public Buildings Committes. Gen, Gar- fleld tried bard to have it sent back to his Com- mittee, which would hnvo reportoed it favorably without loss of time, but a majority of the mom- bers ovidontly preferred to bury it. Gen, Gar- fleld, in the subsequent debate on the Army Approprintion bill, said that this action of tho Houso discouraged Lis hopes of retronch- ment, ond lod Lim toboliove that the Represont- atives were in favorof any oconomien oxcopb thoso tuat were proposed to them, The Army Appropriation bill was boforo the House of Reprosontatives yostorday, and was dobated st great length, It approprintos §28,- 449,916, As it camo originally from the War Dopaiimont it called for £34,881,018, an incrense of nearly four millions over the appropriation of lnst yoar. Tho demand of the House for aro- vision of tho ecatimates brought it down to 33,763,710, and the Committeo on Appropria- ations reduced it atill furthor to its present amount, 8o that altogether it has boen cut down more than £6,000,000. This reduction of appropriations embraces, among othor things, & reduction of the army by 5,000 men. The burden of the debato on the bill scemed to bo favorable to still moro rotronchment, it nooded. Gen. Garfleld said vory forcibly that it the army was largo enough four yoars sgo, when tho South was turbulent and the future uncertaln, it was certainly too largo now, Mr. Coburn, Obnirman of the Militery Committes, advocated a roduc- tion of men, officors, and the goneral oxpensss of the entire military establishmont, He sees no reagon for mainteiniug any considerable forco except on the Indlan frontie v HOW THE TAX-GRAB LAW WORKS. The proposed repeal of the tax-grabbing law of 1809 is now before the Legislature, Under tho operation of that nct, the assessmont of roal and personal proporty for State taxation in 1868 was mado n standard, 8o that whenover suy coun- ty, town, city, or district should contract s debt by giving ita bonds in aid of vy railrond, and aid bonds wore registercd in tho offico of the Stato Auditor, then it was provided that any tax collected for State purposes upon the in- crease in tho assossed value of property in such county, town, city, or distriot, over the nssessed value in 1808, should be diverted from tho revo- nue of tho Stato, and bo Lold by tho State Troauurer to the credit of such municipality, and bo applied to tho pryment of the principal or in- torest of snid bonds. It was also provided that all tho Stato taxes collected from the property of such aided railronds should be hold in tho ssme manner. The deficiency thus croated in the S8tate rovonue was to bo supplied by an increased rato of tax on all the other property in tho State. The sssessments trom 1863 to 1878 differed so littlo from the ns- sessmont of the formor year that tho operation of tho law attracted no attention; but in 1878, thero having beon over $800,000,000 incronso in the total Stato sesessmont, tho ewindlo assumed gigautic proportions, and hundreds of appeals to tho Courts have boon taken. The amount of the insuo of these bonds is thus shown : 44 counties huve fssucd bonds for, , $ 5,380,004 260 cities, towus, and townsbips. .. 8,120,147 It will bo seon that 57 counties hiave no county bonda or dobt of this kind, butln 24 counties such dobts have been incrensed by some of the minor subdivisions, eities, and townships, Like indebtodnoss has been incurrod bytowns in coun- tios which havo nlso issued railroad-aid bouds; 125 towns in tho 24 counties having also issuod such bouds, We theretore lave this liability owed by the followiug municipaiities: 44 coun- tios and 181 towns in the ssme counties, and 125 towns in tho counties Whiok owe no much debts, Tho Btate Auditor has ostimated that tho In- cronso in the asossment of the dobtor towns and countics over 1878 would Lo $020,000,000, Wo have computed the total oqualized assess- ments in 1808 and in 1873 in 44 countlen (not, including Kane, Will, Knox, ‘Winnebago, for rea- #on given further on), and thoy compgro as fol- lows: Assessod valuo in 44 counties, 187 $411,008,058 Aseanod valuo i samo countics, 167,784,733 BT 1YL O $259,314,225 ‘Wo have also compared tho assessments in 34 counties in which thero {s no auch dobt, cither by counties or towns, and the result is as fol- lows . 84 countles, asacaned valuo fn 1613,,.......$581,881, 410 Tho diredt operation of {hia law may bo falrly shown by taking tho tax levied for 1878 on theso two clasaes of counties, Tho levy for rovenue purpodcs {8 27-10 mills, and thoso counties, thoreforo, will bo assoscd as followss Valuatic 84 countiss, 1879,, ..Ha‘t’.‘flt.fi‘i Tz, 0,670,308 44 countios, 1808, + 167,184,703 220,018 44 countics, fucre + 263,314,225 085,047 Total tax......., 482,680,213 This snm i8 in excoss of tho wholo nmount authorized by law to bo rafsod for rovenuo; but, under tho Grab law, tho £033,947, instoad of Ro- ing Into tho Btate Tronsury, 18 applied on thoso local dobis; o that, in faot, tho thirty-four countion pay o tax for Btate purposes of 2 milla aud 7-10 on thelr valuation, whilo tho forty-four countles pay Into tho State Treasury, for Stato purpoacs, loss than 8-10 of amill. The thirty- four countios pay into tho Stato Tronaury, for Btate purposcs, 81,670,208, which s tho tax, at tho rato of 2 mills and 7-10 on their valuation of 681,681,410 ; whilo tho forty-four countios pay into tho Btato Treasury, for Btate purposes, £3820,018, which is less than 8-10 of 1 mill on their valuntion of $411,008,058. This mokes tifforonco of 1 mill and 9-10 in the rato of tnx collectod from tho two classos of counties for Stnte purposes, and this in dofianco of tho con- stitutional requiromont that tho rate of taxos shall bo uniform, To show how this worka, wo havo complled tho following tablo, giving the oxaot amount of cz/ra {az lovied on tho countios named, for the purposs of making good this do- flolonoy: Ketra taz.| Countiea, Extra taz, $ 06,0421 Daviea........$ 6,71 1,215/ Itendall , 8,578, Masauo. 3,00 MoHon 1,705|opo. 7160\ Patnam. 1,384 Richland. .. 6,77Stophouson, 6,203 Unfon, 3117|Wil, 22,429 7,034]Winnobsgo, 13023 Wo have included in the above table Knox County, because thoro is but ono town in that county that owesa dobtof this kind; LaS8allo and Kondall Couutios, bocanso their railrond Indobtodness has boon doolared'vold by Lhe Su- preme Court; Will County, becauso only ono town owes nny dobt, and that is only 6,000 ; and Winnobago County, which Lias but onotown in dobt, Assuming that the Auditor's estimato of the Incrensed valuation in tho proporty chargoablo with this dobt, sinco 1808, is £320,000,000, and a8 wo havo locatod $263,814,225 of this incronse in the forty-four countios which owo county dobts, tho other $60,285,775 rosts with the towns in thoso othor countics whoro thoero is no county debt of this kind, ard township proporty alon o fa bound, ‘The gross asuessment for 1873 in theso twonty-four countics was $348,631,405. Theso counties, through their roprosontatives in tho Legislnturo, are tho most stronuous upliold- ers of the law, but they are sadly victimized by its operations. Wo havo notthodotailed informn- tion to show how it affects cach of them, but, taken togather, their account current with the robbery stands thus : Assesaed valuo in 1873, . Increaso iu towns over 1868 wene 048,081,405 00,285,775 Amount abova increago v+ $262,395,000 Thoso counties {n thoaggrogatogot thodrawback on tho 860,285,775, sud pay theincrensod tax on the £482,805,000. Thess countics aro Bureau, Cham- paign, Effiugham, Fayotte, Fulton, Honry, Iro- quois, Kane, Kankakes, Leo, Livingston, Madi- son, Mercor, Morgan, Ogle, Pratt, Rock Island, Bhelby, Bt. Olair, Stark, Vermilion, Whitesido, and Woodford. Under tho tax of 1873 thoy aro entitlod to a drawback and payas & considora- tion thorefor ns followa: Extra tax of 0-10 mill on $283,895,600. Drawback of 2 mills 7-10 on 00,285, 170,171 Excesa of tax over drawback,, $ 74,084 Boit will be seen that thess countics pay s beavy annual penalty for their share of the rob- bory. Thoey pay $264,165 snnually for the privi- lege of gotting $179,171 allowed to such of thoir towns as owo thaso railrond-aid dobts, Thatkind of plunder is expensive. In the case of somo counties the nccount is worse than the average. Thus, Madison County pays £22,405 extra tax evory year, and gets a drawback of about $7,000. The whole railroud-aid debt in that county is only $48,000, snd all duo by ono town ; the extra tax paid by the whole county would pay the debt of Edwardaville in two years, Tho ssme thing exists, substantially, in St. Clair, Fayotto, Ful- ton, Kane, Morgan, Ogle, Rock Ysland, Shelvy, and perhaps othors, We have thus given in tions of this law, whicn, 1860, begins its mofarious operation practic- slly under the asscssment of 1879, That 1t provides for systemntized robbery is perfectly cloar. That it destroys uniformity in tuxation is oqually evidont. That it is for tho benofit of the holders of these bouds, many of which aro illogal and frondulent, is notorious, Such a law is o disgraco to tho intelligence and honesty of the Btate, and should be oxpunged from thoe statuto- book by an unanimous vote. If such a Iaw can be ouforced, thero 18 no protection to property in tho Btate ; tho supposed dofonses and guarantoos of the Constitution are utterly overthrown, ex- punged, and extinguished. 234,155 detail the opera- though passed in CONBEQUENCES OF CURRENCY INFLATION, Ina receut articlo wo sketched the usual and inovitable courso or an'rmncy inflation, viz.: the delusion of superabundant wealtl, oxtrava- gantliving, rockloss apaculation, the wasto of cap- ital, n “orisis,” want, especlally among the labor- ing olasses, and iutenso dissatisfaction and domoralization among tho ignorant, Buch ia tho almost necessary concatenation of phonom- ena attonding the inflation of the currency,— oxtravaganco, peculation, wast, the oriels ; followed by a sccond inflation, extravagance, speculntion, waste, and another crisis, Tho in- creaso 1n the volume of tho circuloting medium doponding only on the willof Gongress, and tho will of Congresa boiug influonced by the popular will, any clrcumstance which sufliciently aug- monts tho publio desire for moro currency will produco it. And, iu ostimating how much tho peoplo may desire inflation, it ought to bo borne in mind that all dobtors have & direct and im. mediate interest in oxpansion, BSo has Govern- ment, since in its own inconvertiblo paper it puys most of its liabilitics. Bo lave the Individual mombers of Congress, sinco in it they discharge their dobts. 8o huve taxpayers, since the issne of moro curronoy relioves the Governmont tem- porarily of the necessity of lovying onerous taxes, A war with anycountry would bo very apt to afford an excuse for undue expansion, To borrow the money nocossary to carry on such & war, by & country with only a paper ourroncy and an already enormous dobt, might be found difil- cult; while to ralso 1t by dircot taxation would bo ecarcely attempted. To ralse it by an infla" tion of the currency ia 8o subtle a way of pro. coeding that it apparently injures no one, and tho tomptation to rosort tolt fs, theroforo, ox- ceedingly great. Nor is a great war tho only cause which might load to an fuflation of tho ourronoy, A defleit i the Natlonal Treasury may bo romediad by it for the iime belojh, ' Any extemordlusiy expense may bo mat by swelling tho volumo of the cur- ronoy, Whilo Congross I In possosslon of tho vhilogopuier's atone, nnd ean mako paper do the work of gold, why should it borrow money or tax the people? A commercial crials 1s not tho only conroquence of inflation. The doprooiation of tho curronoy itsolf, ond tho influonco of that doprecin- tlon on tho fortuno of overy mombor of tho commuuity, must not bo lost sight of. The' domand for curronoy 18 not unlimited, Moncy has cortaln apcoific functiona to tulfill, To fulllll thoso fuuctions n corialn quantity 8 neoded, Onco this nmount is ronched, any addition to the curroncy is followed by its own dopraciation, If, for tho sako of il- lustration, wo supposo that at n givon time, ina Bivon country, tho noods of busiucss domand £100,000,000. 8o long aa tho papercurrency does ot oxcoed this amount it is t par, provided tho Governmont that issucs it is o strong ono, at peaco with all tho world, and that thore s no doubt cutertaiued of its pormanecnoy, If now an additional {ssuo of $100,000,000 bo mado,—the demand for money not Laving incroased ou ne- count of the numboer of oxchinnges that must bo mado with it,—tho volumo of tho currency is doubled, but its valuo or purchusing powor ro- mainsthesame, Tho dollar bins, thereforo, depro-~ ofated one-half. If a third $100,000,000 bo omit- ted, tho dollar loses two-thirds of its valuo ovr purchaging power; and, it a tonth 100,000,000 bo issucd, tho dollar purchases only ono-tenth of what it did before tho ourrency was inflatad boyond the volumo domandad by tho business neods of the country. Thorofore, o contract made whon the currency was at par for the pay- meut of §1,000 is now discharged by 8100,—tho roal dollar, or value-dollar, boing substituted by tho name-dollar, and the payment mado in o name ingtoad of n thing. Aud mo, an sunuity of $10,000 dwindles down to $1,000. A dobt duo for the purchoso of a house of £20,000 is dis- chargod by $2,000. Let us now glanco at anothor matter: how oasily oach succossivo issue of 100,000,000, say, londs to continually decroasing rosults, and be- comos more onerous and disastrous to tho na- tion, When the Govornment hns issued as much | ourroncy ns fs needed to carry on the business of tho country, it has obtained by the 1esuo wenlth oqual in valuo to tho specio which it has dis- placed. It its poperis inconvertible, tho offect of tho issuo is tho samoas tho conflscation of 80 much gold. It s, in fact, tho confiscation of tho gold aud silver circulating in tho country, Let us suppose this ‘' valuo to bo ropresontod by §100,000,000 epecie. It now for any ronson tho Government must in- cronso its rosources by an equat smount of real wealth, it cannot accomplish it by another issuo of $100,000,000 paper, sinco tho addition of 100,000,000 to tho curroncy will now bring only 50,000,000 worth of real wenlth. In like man- ner, a fourth issue of $100,000,000 will bring on- 1y $25,000,000. A tablo will illustrato thig: Jteal wwealth, TFirst fasuo of $100,000,000 paver brings..$100,000,000 Sccond Ikatto of $100,000,000 paper brings 60,000,000 Third fasuo of $100,000,000 paper brings, 33333333 1. Fourth {asuo of §100,000,000 paper brings 23,000,000 Fifth 18810 of $100,000,000 paper briuga. 20,000,000 Bixth fasuo of §100,000,000 payer brings, 16,060,600 2-3 Bovith fesuo of $100,000,060 paper briugs 14,245,714 2.7 Fighth issue of $100,000,000 paper brings 1%,540,01 Ninth ssuo of $100,000,600 puper briugs, 11,111,111 1.0 onth {ssue of,$100,000,000 paper brings. 10,000,000 Thus, while by issuing $100,000,000 only, tho Btato obtains $100,000,000 wealth, by issuing 10 times a8 much it does not obtain 3 times tho wealth it obtaina by the first $100,000,000, Such is the inevitablo result of depreciation. By the firat $100,000,000 the Stato conflscatos $100,- 000,000 gold, by tho second $50,000,000 worth of the proporty of its citizons, by tho fourth ©25,- 000,000, ete, Thore are other causocs of dopreciation,—the hiopes and fears of the peoplo, the incoming or outgoing of un Adminiatration, war, or rumors of war. On the caprico of the poeople, on tho arbitrary will of Congress, on iho clamor of tho publio, on the foars aud tho Lopes of tho nation, in poaco or war, in tho fluctuations of opinion, on the caprico of the elemonts, on the winds, and tho rains, and the frosts, on light and shado,— Auch is the saudy foundation on which our cur- Tency rosts, our commerce, our coutracts, and our fortunes, Auy great variation in ono of theso, and fortunos change hands; debtors or creditors aro robbed; all commorco becomes speculation, and all logitimate busluoss impossi- ble. In all we have said we do not dony that o perfect paper currency is imaginable. We grant that it is ; but a good inconvertible pavor ocur- rency is not imagiuable eo long as human nature and human govornment remain what they aro. ‘When human governments become 8s pormancut a8 tho ctornal hills,—if thoro are any etornal hilfs,—omnipotent,omniucient, andincorruptible, thoy may be ablo to rogulate n paper currency as well 18 a specie-paying currency rogulates itself, Till that time comos, an irredeomablo paper ourronoy is a black cloud overhanging all buei- ness, throatoning all interests, public and pri- vate, and constitutiog a permaunent menaco to socloty itself, 5. THE BOSTON BCHOOL BOARD, ‘The Boston ladies who wero clocled to sonts in tho Sehool Board soem to be travoling a hard road. Immeodiately aftor thoir olaction, tho consorvative elemont in Boaton whioh lives in tho Bonoon streot swell-fronts vigorously oppos- ed thom, Tho press, on tho other hand, as vigorously dofended them. Thon tho Oity Attornoy solemnly dolivered his official opinion that it was unconstitutional for tho ladies to sorvo, Tho pross thorsupon rotorted that tho City Attornoy didn't kuow what ho was talking about, and had written other opinions which had not boan consonant with law and Suprome Court rulings, Tho community soon began to take eldes, and tho great majority sided with the ladies. 'Thoir most vigorous opponents wore the old. consorvativa follows who wear stand-up collard and do business on State streot and never go out of the aity, bocauss thore is no placeout of tho olty, At lnat, tho School Board iteolf commonced agitating tho question, ana tho divousslon has run vory hot for sovaral weoks, torminating finally in the posasge of o rogolution deolaring the soats of tho lady-mem- bera vaoant, Tho action of the Bchool Board now places the question In a now pasition, and, it tho ladios do- siro to ocoupy their weats, it will be inoumbent upon them to carry their case to the Supremo Court, This will undoubtedly bo done, as the groat mafority of the peoplo of Boston desire that tho ladtes should serve, boeausa they are bot- ter qualified for the positlon than tho gentlemon who arosorving, Thoy aro all educated women, practicnl teachors, and ladies of docided excoutiva ability, who bavo mado educatton the atudy of thelr livea, Tho closences of tho vote itself— 46 to d5—{s anothor fnducoment to have this Queution flually seislod; In this State, as far as wo can lonrn, tho lndies who wore olected to tho Hohioo! Boards aro giving groat satlsfaction, and thera ean bo no question that educated womon havo a poculiar tact in tho edminiatration, as thoy aleo have In the tonching, of schools. It ia rathor surprising, lowover, thatsuch a dotor- ‘miniod opposition shiould bo mado to thosa Indios In Boston, which liny boou the Lome of noatly all radleal roformors, and unususl interast will thoroforo attach to tho decision of the Bupromo Court, HANDY ANDY. landy Andy Is onco moro at his ofd tricks. It will bo romembored that this interosting young gontloman with & ponchant for bur glary was urrosted, in 1809, for “ golng through " saveral houses, Hia modus operandt was to stoal valun~ Dlog, and then negotiate for thoir ransom-with tho ownor. Iowas an Interosting young croa- ture, & handsomo spotted loopard fallen into tho vilo waya of a sheop-killing dog. I1is mothor was 8 comely woman, woll known in thoso doys a8 o rhinpsodical and rather dashing young widow. Ho lind brown cyes and handsome hair, and & mild, winsome way sbout lum, and Lo nlays choso tho mansions of our woalthiost cit- izous for his exploita ; not that his tastos wore peculiarly nrfntaerntln, but because the plunder wag moro valuablo aud tho risk wag loss, Mon who steal plnin spoons are not i such dangor of Joliet 08 thoy who stonl dlamond crosses and gold-lined ten-sots. So it camo to paes that Iandy Andy camo to bo rogardod ng a kind of fadod flowr in tho bouquot of socloty, aud many thoughtloss peoplo looked upon Lim ns o dashe ing Fra Diavolo rathor than a Bill Sikes. Fors timo ho wns succossful in Lis opora- tions. Ho lovied toll in overy dircc- tion, and was cunning enough to do- iy dotoction until one cold day in Decombor, whon ho nceldontally tumbled Into the ofiicors’ hands, aud, s thoy had no portioular admiration for his romantio style, lio was ot once placed up- ou trinl. Tho ovidence was o ovorwhelming that ho confessed bis crimos ‘snd was sont to Jollet. Peoplo breathed moro frocly when this romantfo young rufian disapponred, and ensily beeamo reconciled to the prospecta of bhis ten yeors' abgonco, e had not beon in tho Peni- tentiary long, bLowever, bofore his com- pulsory oarning of an honest living bogan to toll wupon him, -and ho deo- voloped an interosting case of con- sumptlon. A hicking cough sot in. Tho War- don becamo alarmed, the physician beeamo alarmod, tho Pouitentinry Commissioners bo- camo alarmed, crowds of maudlin women bo- camo alarmed, and ovon somo of his victims bo- camo nlarmed. Tho aggrogate alarm so affected the Exeoutivo that he, too, becamo alarmed, and issued his pardon, The interosting young croa- turo was theroupon released, and, as he turned hia back upon his less fortunate and fess con- sumptive companions, he pluintively remarked to tho Warden that ho was going home to dio, whereupon wo presume tho tender Wardon shod toars. The result of all this gulliblo stupidity ia shown Dy tho fact that Handy Andy has re- coverod from his consumption and is now at bis old tricks, There aro cases in the history of crime whero it is diffieult not to admiro the atrategy, brill- iancy, and courage of tho operator. Bomo groat crimivals have manifosted & grandeur, broadth, dignity, and dazzling style which has amountod, it not to o manifestation of gonius, at loast to a fino art. Handy Andy has nover, however, doveloped anything of the sort, He has a cortein dosh of impudonce when ho knows that ke can oxercise his impudence with fmpunity, but ho has none of tho qualitios of the Fra Diavolo in erime, It is sinceroly to bo hoped that this time there will bo Do nonsense over him. The polics should be on the alert to apprebond him and send bim back to Jollet to resumo his consumption. If the oficors bave not ekill enough to eapture him, it is to bo hoped that ho will beforo long cucounter some houscholder not afflicted with maudlin ideas who will put a bullet through him, and thus ro- lievo the community of n pest, After tho ox- poriencos of three years ago, there i8 no excuso for allowing him to contluue his operations any lougth of time. HARVARD UNIVERSITY, The snnual roport of the President of Harvard Univorsity for tho yoar 1872-8 has just beon printed at tho University Press. Its Listory of tho pust and its suggostions for the future arve aliko of valuo. The principal changes havo boon these: Tho system of choosing rocont graduates as tutors has beon dono away with, Tho tutorships are bhoreaftor to bo rogarded as stopping-stones to professorships, and not as tomporary borths for profossionnl studonts, Nono of the presont tutors are members of a professional sobool. Harvard was tho first Amorican colloge to on- tirely abandon tho practico of driving her undor- graduates to church twico every Bunday, Yalo Las partly followed the example, Harvard has now tried anothor experiment in the same direc- tion. Prosident Eliot snys: During the oxocution of the alterations in the chapel, 10 suitablo pluce could ba found in which to Liold tho dally gorvico of morning prayers, and this oxerclso was thereforo omitted from Sopt. 20 to Fob, 23, On Feb, 24 tho oxercise waa resumed, The Facul- ty thus tried, quito favoluntarily, un Inferesting ex- porfmont in collego discipline, It s beon & common opinion that morning prayers were not only right and Lelpfulin themselves, Lut also nocossary to college disclpline, partly o8 o mornlug roll-cull sud pattly as a micana of enforeing continuous residenco, It was, therefore, Interesting to observo that tho omfaston of morning prayers for nearly ivo months, at the time of year when tho days are shortest and coldest, had no 111 effects whatovor on collego ordor or dlscipline, Thero was 10 increased frregularity of attendance at morning oxorclsed, no unuauul number of absonces, and, 1 fact, 1o viaiblo effoct upon tho other oxcrcises of tho collegoor upon the order and quiet of tho place. Tho Trofeusora und other teachers Uiving boyoud the sound of tho prayer-bell would not have known from sny ef- feot produced upon their work with the studonts that morning prayers hod been intermitted, Bomo changes Lave beon mado in the roquire- monts of admission, but the standard, as a wholo, has not beon raised, and will not be, ‘Tho avernge ago of applicauts s now s triflo over 18 years, sud this {8 considored Ligh ounough, The minimum atand roquired in oleo- tivo studics is somewhat highor than in the pro- goribed ourrioulum. A student who exorts hls froodom of choleo is thus obliged to show him- wolf worthy of that froodom. The profossional schaols have hoon strengthened, andall the de- partmenta of the Univorsity ave open without ohinrge to the members of any ono of them. The {iro losaca Liave been about made up, There are now six followshipy, each of thom of sufilctont Vvaluo to support an unmurrled man, Four of thom are avallable abroad .aa woll as at liomo, ‘The most important lnnovmqn of tho year is tho ostablishment of the examinations for womon, on which wo have already commented, For the future, Prosidout Eliot wishes mouey to put up fire-proot bulldings for tho muscums and librarios that are now in auoh imminont dane gor of destruction) money to balld a new gya- nasium and to turn tho old ono Into n awimming- bath; monoy to ventilate the recitation roOms, In which studonts now pay for having their minds improved by having thelr bodies poluoned ; mmonoy to make Thayor Iall a magniflcent din- ing-roum for the colloge commons, lke the halls of English collegos; aud monoy to cutablish Professorships of English Litoraturo, Jurlspru- denco, and Art. Ilo can ask with contidoncp, for Lio knows that what has been Ithorto givon lnm Las worked tho happlost results, Harvard, with Dor 1,040 studeuts, and Yalo, with her 1,020, aro worthy rivals, Mr. Ruslin hag written ono of hin olnractoris- te lottors to tho municipal authoritlos of Livor- pool, advising them to purchaso o pleture of Rafacllo's, now in tho market for §200,000, In s lottor Mr. Ruskin says: I don't supromoly caro nbout Rafacllo; nover did, DBut some peo- vlo do, T bolieve.” Tho coolnesa with which Mr. Ruskin opposes bis eritienl Judgmont to the universal admiration of the world for tho lnst tlhireo conturies and n balf is 1o moro romarkablo than the fuot that, after damwing tho groat artlst with faint praiso and suubbing the wholo City of Livernool, eapacially its artisty, ho should ndviso tho city to pay such o prico for o pic- turo for which ho doos not supromely earo, Auother fact in this connaotion militates againat Mr. Ruskin's fidolity as a critio, Tho picturo i tho Colonns Rafaello, which was paintod in 1604 for tho nuns of 8t. Aunthony of Padua, at Perugin, and is in bad condition, tho panels up- on wiiich 1t is paintod boing erackod, and somo of tho cracks oxteuding across the faces of tho sinte, As this Ia a dofeot whicl cannot bé rom- edied, and as the picture Lok beon long in the market scoking n purchasor, it is not surprising #hat Mr. Ruskin should not care much for it, but 1t 18 littlo surprising that ho should seck to influonce the corporation of Liverpool to pay an oxtortionato price for it. His conduct in the oago helpy conflrm the provulont roport in En- gland that his mental facultios havo bocome im- paired, —_—— The pooplo of England nre now in a curlous prediesmont. From tho days of Edward the Confosgor to tho prosent, Interment in Wost- minstor Abboy Les been considored s the lnst crown of an {llustrions carcor. Somo timo 2go, an effort was mado to change the popular tradi- tional feeling by burying a fow in St. Paul's, and Nolson and Wellington are now sleoping there, but it Lad no offect. It was Wostminstor or nothing. Mennwhile, as England has boon for- tile in illustrious men, Westminster Abboy is full of graves, and the crowding of tho monuments Lins beon earried to o fatal excoss. Doan Stanloy roports that the Inst soven intorments which bove taken place have seriously crowded and interfored with the sloepers who pre- ceded the now-comers. As it Is manifestly discourtoous to crowd the Kings and Queens, warriors, statesmen, and poots, who aro oceupy- ing tonoments in the Abboy, it is oither incum- bont on tho pooplo to stop having any more goniusos or to increase convoniences for sepul- ture. The latter proposition is under discussion, o schemo having been started to orect n new Memorinl Cloister in connaction with the Abbey, This will very materially Lelp the Govornmont in caring for dead gonius, doing honor to its memory, and rewarding its best servants by a place boside the noblo dead of past ages. 1t is & fortunate country which is thus fortile in great mon, and it is to the credit of England that it nover grudges honor to those who have con- forred honor upon her, —_— Tho Ladies' Christian Union of New York City says, in ita fifteouth aunual roport: #The wages of gizls aro onc-third loss than thoso of young men, and their expensos counceted with clothing and heelth arc ono-third greator.” A tabular stutoment of tho amount that solf-supporting women bLave to spond for dross, books, amuse- monts,—in short, for evorything oxeopt board, washing, and oar faro,—varies from 90 conts to $2.40 a wook. Tao wages vary from 86 to 7. This is & terriblo stato of things. It is small wondor that cases of starvation are roported almost daily, and that vico too often goins the fight against virtuo. Yot tho women thomselves or thoir paronts aro largely responsible, If a mau trained from his boyhood to z trade or pro- fossion is pitted against a girl whose future has been summed up in tho ono word “marriage," and whose only weapon is the neodle, is it strango that the lattor gives way and siuks to tho starvation point—or below it ? Every womau ought to learn a trado. —_— The factory-oporativos of Massachusetts aro agitating for & ten-hour law. One of the planks in thoir platform is: * Reduction of timo ought not to involve a reduction of wages.” This is folly. Tho price paid for twelve hours' work in tho factorics now is tho result of two things,— the demand for labor, which doponds upon the capital employed, which deponds upon the rola- tive profits of factorios and other money-making institutions, and the number of porsons who offer thoir sorvices supply that demand, No ten-hour law can, except indirectly, chango eithor of theso factors, and hence no law can chango tho rato of pay. Supply and demand uro stronger than the State. If tho operatives wish to get moro pay per hour, they should oither pexsuado thoir employors to pay by tho piaco, or thoy should try to co-oporato with thelr omplog- ors and get o percontage of tho profits above n fixed rato, or thoy should become their own om- ployors. Of the threo plans, tho first ig prob- ably the most feasiblo, and the second tho most advantageous, A= During & rocont investigation by the Now York Citizens' Associstion into the Heaith Do- partmonc of the city, o young physiolan tostificd that tho subordinates of the Dopartment did not know tho firet principlos of tho scionco thoy were appointed to put into practice. The De- partment brought forward several subordinatos to disprove the charge. Thoy wore oxamined soparately, ‘The first mado a laughablo mistako nbout the word *hygionio,” and tho rest woro auked in turn: *Havo you any hygionics in your ward ?” Thoy answored *“Yes," * No,” Wo Liave lind 'om protty budly,” ote. Finally, when one of them, who had beon muking some wild shots of this sort, was asked: ** Do yon know what the word * hyglonic " means?" Lo repliod : ‘' Yes, sir, Ido; it means & bad smell arising from dirty wator.,” Tho story sorves nsn toxt for Prosidont \Whito's strong sormon, in the Popular Science Monthly, on the importance of systematio and universal insiruction in hygiene. B £ Horaco Grealoy, in his *Political Economy,” slghed for & protsctive tariff for Hindostan, In the words * Cotton and juto, 60 por cont ad va- lorem," he saw a fetish, which, if proporly wor- shiped on Iudia’s cotal strands, would stud said strands with fuctories 1n whicl the nativos, aftor plucking cotton through the days, would work it up at nights, and would so, by eating iu tho ca- pacity both of agriculturists and operatives, double the home markes and meke everybody rich. Without theso magic words, he saw no hopo that Hindostan could over escapo tho diro- ful necossity of buying Manchester-made goods, As it hes happened, however, Indiu hay now renched tho stago in whioh it paya her to man- ufacture hor own cotton without getting a Stato subsidy thorefor. So factorics are golng up right and loft. Tho Bombay mills alono employ 10,000 operatives, aud work up 1,500 bales a wools, ———— croation, - Bimilarly, wnchangoable laws, aa concerved byn man of weletco, negallvo tho ourreht concaption of divine goverument, which iuplien interforences ne lal provideticen, I tho Inws aro wichangoabin, fhey are never fraverad by divino volltions mspondin; thom, Jf God nlters tho pre-deformined catirno ol {hinga from timo to time _tho laws nro changeallo, Lhiewo dogmus, however, do not exeludo an orthodox bollef tint ovalution, 1f el has Loon the procoss, 1 still od’s luw and method, * biconfhc s S RN Milno-Edwards thinks that birds tend to white plumage fn tho Northern Hemisphere, nud black plumago in the Southern, The Bwan, for in- stance, grows darkor and darker na his habitat appronchos the South, In Australin ho is obony-~ like. If tho rulo holds good of all animated crontures, it may Lo that our colored citizens will gradually blonch. In fact, tho whito blocd 1t tho voins of part of thom 8 probably nn In- sufliciont ronson for their paloncss, ny s raco, whon comparod with thoir distant rolatives in Africa. Tho blenching may havo alrondy bogun, On the other hiand, our crows and our blaekbirde obstinately rotain thoir sablo conte. If thoy roostod every night on tho South Pols they could not bo blucker. ——— e Ex-Senator Footo displays an ability in calling hames, such a8 comes ouly with long practice, Ina fow shorl lines of privt be roflects upon Joff Davis® * prosumptuons arroganco,” his hays ing his *“jows slapped,” his writing * blustor- ously," hig status ny an * habltual calumniator,” his *hypocritical pratonsos to extromo pioty," and his wigll to *skulk," Tho vesult of the quarrel may bo a duel betweon tho to antiques, tho fousils who tostify to tho whilom existenco of tho Confoderaoy. Thore hns not boon such a shaking mmong the dry Lones sinco ex-Sonator and ox-Dulio Gwin ravisitad tho glimpsos of tho moon to support Moraco Greoloy. oo bali Tho Fronch spoliation claims have come up again. This timo it s Souator Cameron wha ongineors thom, Ho was doubtloss chosen bo- causo his ago approximates thoirs, and Lo will cartalnly be zealous, for there is monoy in tha job, and tho clau of Csmoron sro a8 keon pur- suers of that articla os their raiding, robbing Highland ancostry, This claim businoss a8 Sumod moro gigantio proportions overy yenr., ‘The Congross of noxt contury will lavo no time todo nnything eoxcopt voto subsidios. Aftos all, however, the Congrosa of to-day doos nol do much moro, —_— Now York must be in & bad way when her finost church sorves as a receptaclo for stolon goods. A fow doys ngo, tho safo of Trinity Church was found to contain, besides the records, encramental sorvico, oic., & numbor of articles that had beon stolon from Brooklyn residoncos. Now the soxton has been arrestd on tho charge of complicity with tho burglars, Bo tho house of God has bocome litorally ¢ den'of thioves. . —_—— It is unfortunato that the Ohio Constitutional Convention hias refused to allow tho Judges of the Court of Appeals to be olected by a propor~ tional representation plan, It is most important that Judgos, if thoy arocloctod at al, should rop- resent the wholo peoplo and not a baro majority ot it. Miuority represontation would offect thia, ———— ALLEGED NON-REPRESENTATION OF THE WEALTHY. To the Editor of the Chicago Tribune, Bm: It is an axiom with tho poople of these Btates that taxation without ropresentation is ot to bo tolerated ; it i3 & principle for which we hove contended until overy ono is eatisfied with its truth, and no longor strives to over- throw or annul it. But na yet we are not willing to lot its trnth bo appliod to all branches and to sl firms and scctions of socloty ; for overy littla while wo find cropping out tho effort of some feoble section, domanding tho application of tha truth of thia principlo to thoir caso, s witness tho effort of two ladies in Now England, o fow doys ago, wherein thoy refused to pay taxer without the use of this all-potent charm, ** roprosontation.” Bociety has not grantod, in the caso of their sex, as yet, tho fulluess of th: truth of this idea ; Lonco wo seo the continual turmoil, upheaval, and striving of the fomala *body politic ; and no doubtit will continue until thie muddy waters have come out clear and swoot, it for tho use of all, But theso thoughts are proliminray to what 1 was about to bring to tho surfuce, and that is, that thoro are others beside the gront mass of the fomale sex who aro still deprived of the benofits of this principlo, ‘Whon our Government was formed, and the foundation laid for tho grand superstructura which hos already grown up, tho great many weroof the lower aud pooror classes, as eb present, aud thero was no wealthy olnss, a8 there is ot present. 'Thon, $100,000 was an im- meneo fortuno; now, the possossor of that amount thinks himself in but moderato circumslonces, and droams not of lotting go of the reius of business until ko is the mns= tor of a million, Aund what is tho consequenca of this mighty chango in tho monetary world # Why, there has grown up a largo and gonerally- concadod-to-bo raspectablo clnss of woulthy pan- plo. who have no ropresentation in the Govern- ment ; and the result is, a8 wo 800 day by doy, that, to obtain what is necessary for its propor dovelopment, it is obliged to go into tho Lalls of Congresg and doliberately buy what should have boen given it of right,—theroby demoralizing thoso whom it would otlierwiso sorve, You may tell me, Mr, Editor, that I am writ- ing on tho unpopular side of tho question this timo, aud I toll you that I am aware of it, but still 1 18 to me tlie truo sido ; and if this great and growing class of which I am spoaking is not let in to its proper plece in the Government, the wheols will soon clog, and wo shall be, 03 & cople, like n man with s boy's clothing on. nviug outgrown the dimensions, wo still por- sist in arraying ourselves in tho ssme habili- monts which wo found so convenient when wo scaled walls and shook applo-trees. You ask mo what shall be dono with those oute grown pants and coats? Mako & now suit first, and then lay the old ones carofully away in tho lumber-garret, Let Congress put bofore tho States tho following smendimonts to the Consti- tation: First—That the Presidont be chosen by the THouso of Ropresentatives for life, subjoct toim- eachment Ly the samo; and tho oftice of Vico- Prosidont o aboliahod,—tho Sonato choosing: 1t own Preaidout, who shall, incase of disability or death of tho Prosident, fill the placa untilan- other is chosen by the Houss of Reprosonta- tives, Tho salary of the Prosidoent to be $100,000 sunum, "°§ecm.d—'mm Sonate to bo chosen, at at pres- ont, by the Btates, but for life, and without salary, It is not nocossary £o enaot an amendment for the same, but I would rocommend tho raising tho salary of tho mombors of the House to $10,000 por ennum, And I prosumo that this Inst will bo stroug presumptive evidenco of m fltness for a coll in a lunatic asylum,—to thin of such o thing whon every ono is ecry- ing out for roduction; but allow mo to msk, What was tho purchasing power of the salary first glven to mombors of Congress comparod to that amount, when wo take into thought tha difforonco betweon eighty years sluce and thia resent 2 How much more of the comforts of Blo, or its luxurios even, will 100,000 buy now than 25,000 would theu? Do theso pratora about extravagance consider that thoy thom- solves are wouring broadeloth to-dny of the :fiml(tydgt which~ thelr grandfathors novor onmo Theso people who are troubled with poriodical attacks of mouotary collc, and whu cry out about the dogoneracy of fho timos, and that wo ara all golng to tho bad unloss this' or that party is suos cessful, ond they take a turn at tho holm of stato, and manugo until thoy flll themselyos, have always oxisted ; but, if wo sobt oursolves down calinly to survey the position, and strive 1o lenen what Is necessary for our political ad- vancoment, wo may flod that porhaps » genorous outlay will bring {ts own roward ; and that it is not always the wisest courss to restrict our- solv, norto put on loug faces whan wo come to viow the fucts of our political standing, Lot us remomber that, as & nation, wo aro out of our childhood-days, and heve become a mun, full-grown and sottled; sud now we want to build us a good, etrong, substantial houso, in Pordons who havo been painfully trying to re- concilo their minds and hoarta by believing in the theory of ovolution aud tho Biblical account of tho vreation at tho same timo, will not bo plonsod by o note Horbort Bponcor haa appondod to tho socond odition of his ¢Btudy of Socl- ology," Haoenya: Evolutlon, us I understand it, and creation, as usual- 1y understood, are mutuslly oxclusive; if thore has beott tllhl' :'P:.“#ll ffl:gle:sngn:fll\ n‘dlullm-nlanlm:?mm on ot boan syolution, {h%20 hud e #volatiod, (e har mof -m‘aé which wo can live and spond our days, receive company, aud give thom u good, homoly, robust repast, such as we yeorly sot down to on Thanka« glving-day. Lot us look forward to the future with u geuorous trust in the (.inml, nvurrullu§ Providonce, and estoem ourselves hapEy thal God hns given us this goodly land, and show the oldor nnfl_cmu our onpulz‘y for governmont, by conceding to ovory olage its priviloges, and by taxlng none without giving them due represontas ) ton, INDORX ADAMd Bitaw, | 00000, Ias T, 1874