Chicago Daily Tribune Newspaper, July 4, 1874, Page 6

TERMS OF THE TRIBUNE. TEWNS OF BUBSCRIPTION (PAYABLE TN ADYANOE) B2 Sunday, B0 B5.081 Way 580 at the asme rato, lolay and mistakos, be sure and wive Post ©ON & address In full, ‘inoluding State and County. Romittances may ho mado eithor by draft, oxpress, Post -Otos ordor, brin regiaterod lottorn. AL our risk, TER3S TO OITYX BUBSCRIRERA. Daily, doliverod, Bunday exoepted 35 cente per week. Daily, aelivered, Sunday Included, 0 conts por waok. Addiess THF TRIBUNR COMPARY, Qornor Madison and tearborn-sts.. Uhloago, 1il, mee—— TO-DAY'S AMUSEMENTS. BIVIOKEI'S TIRATRE Madlson stesct. Yatmeey - s £ Panbarm 428 Fiataiion. v Xiternoon And ovanin HOOLEY'S THEATRE-Randolph atroet, between % tof the Kifth Avenus 1 oty Aliormsom + Olivar Twist" ivom. ndon Assuranco.” 4 ey log, AOADEMY OF MUSIO—Hal) * Inl‘::flu" :ml kool of the Family," Mad. fix," Evening, ADELPHI TITEATRE-Uorer of Wabash ana @ongressatroot, Varioty porformance. Wrusoe," " Aftornooh and oroning. 2 ING—Laksshoro, foot of Adams L Rl 7" Atersoan and evoRing: & .8T, DASR BALL GROUNDB— OPaERS i Suine Bovrond the Bostons o8 Ohlsazor, DEXTER PARK~Last day of tho rsces. The Thicago Tiibune, Saturdey Morning, July 4, 1874 THE SUNDAY TRIBUNE. Tar TRDUNE will bo issued to-morrow a8 usual, and the Counting-Room will be open to-day sa on other days for the ction of buniness, ‘Erneat Ortwein, who has boon montonced to doath by & Court sitting at Pittaburg, murderod & family of fivo persons liviog moar that city, and burned the house over them. o Is & crazy brate. His punishmont is not too hoavy. There are too many crazy brutes alout, In so article yesterdsy, roviewing a lottery echeme in the City of Dubuque, Ia., wo spoke of Judge Zove na ono whose name had been un- pleasantly copnected with & proposed lottery at DesMoines Iast winter. This was & mistako for Judge Cole. ‘Tho namo of Judge Lovo, of: tho ‘United States District Court, has-nover boon associnted with any such ontorprise. e Mr., Beochor's rogular ¢ Friday evening talk™ for thia wook was made up almoat entircly from his poraonal history, yob Lo said nothing of that part of his Listory which the peoplp most caro #o0 hear about. A Now York jourpal puts tho fact concisoly when it eays: ''If Mr. Boooker is innocont, his sllence is foolish; if hois guilty, it is wiso." —— A contost of long duration has beon in prog- toss botwoen the savinge-banks and the Internal Revenuo Dopartmont in regard to the taxon surplus oarnings, Commiissioner Douglass has maintained that savinge-banks are liable to this sax, and his position Lns been approved by the Suprome Court. A bill to roliove tho babks posdod Congress st tho last seseion, and tho porsons relioved wero, to use a newspapor pliraso, * jubilant.” It now appoars that tho bill haa perished by tho pookot-veto. Whother anybody will bo jubtlant over this rosult is & mooted quostion that had bettor he regerved for future considoration. ¢ Marshall Jowell, of Connacticut, who has been Minister to Russia for something moro than a year, has beon offored aud has accopted the oftico of Postmuator-General, Ho iabotter known to fome as an frrepressible and pugnacious can~ wdidate for-Governor of Copnoctlout than for sny oxhibition of oxecutive ability. Anothor vncancy hes boon filed by tho appointmont of Gen, J, H. Ketobum, cx-member of Oongress, to the placo in the District Commission which ox-Senator Cattoll refused to sccept. Gon. Fetebum Liga boon waiting for & national reputa- tion ever sinco he was born ; he has boon over- taken by one at lnst, e e ara curious to know how tho Republican papers of this State will handle Mr. Nast and Harper's Weekly for the eruel manoer in which Moy havo assailed tho Tion, John A. Logan this week. Mr. Logan is ropresonted as a four- leggod anjmal with » muzzle on his nose, and & {in-can (labelled “ Inflation™) tied to bis tall, which ho carries betweon his legs. Ho is mol- ing iracks toward tho woods, and awey from & Tiooting crowd standing in & door-way marked “Headquatters of tho Tllinoia Republican Party.” Thoe whole pioturo is undorlined: “ An Objoct of Pity," We fesr that Mr. Nast ia not a8 funny, and cortainly ho is not ag loyal, as hio used to ba; aud wo are sure that the Repub- lican pross of thiaStato will becomingly resentthe insult which the * Journul of Civilization " has thus offered to their favorito Senator. Tt will bo n rather sad announcement to tour- fste Doatonwards that the Bupreme Judicial Courtof Massschusetts has declded tbat tho Prohibitory Liquor law is not unconstitutional, and that beeris an unlawful boversge. The cnso in which tho declsion was made was that of tho Cominonwealth vs. Cortain Intoxicating Liq- uors, the DBoston Boer Company claimant. The Company was incorporated in 1820, with tho right to manufacturo snd eell malt lquors, and claimed cortain malt liquors scizad by tho Stato Police whilo boing trans- ported to be sold by their agont. At tho trial in tlo lower court it was rulod that the liquors woro awtully solzed and Mable to forteituro. =options wero taken on tho ground that the .atuto undor which the liquors woro selzed was + violation of tho Constitution of the United States, =8 impairing tho obligation of tho gon- tract contained in tho Company’s charter, The Supremo Court, howover, overruled the ex cep tion. The Chieago produce markets wore gonerally steady on Friday, with rathor less dolug. Moes pork wau moderately active and 10@160 por brl Tughor, closing at 18,25 cash, and $18.80@18.35 szllor August, Lard was quiot and a shade firmor, ot $11.25 per 100 1bs oash, and $11.321¢ pollor Angust. Meats wero quiot and asbado firmor, at 63{@G}go for shoulders, §8.95 por 100 e for short ribs, B}/o for short clear, and 103§ @!11c for woot-pickled hama, Highwines woro loss notive and o shado firmor, at Dio por gal- Jon. Lake freights wore quiet and stoady atdo for corn to Buffalo. Tlour was unchanged, Wheat was rathor quiotaud unchanged, olosing wonk at §R143¢ cash, BLODY( sollor August, and £1.10%¢ for No, 2 Minnesota. Corn was loas active, and & shade firmer, closing weak at 673{0 sash aud sollor August, Oats were quict and @34 higher, closing at 425{o oash, and 4130 joller the month, Rye was dull and soarce at J0@820. Barloy waa quiot and flrmor, at 80a pellar Beptember. Hogs wero In gopd domand aud flrmer, Balos at $8.00@0.25 for poor to oxtra. Cattle woro In better roquost, and woro more firmly held. Bhoop remain dull, 4 Most distrosaing roports continuo to be recelved from what {4 bocoming known as “ the graes- hopper rogion* in Iowa aud Minnosoia. Tho visitation in Iown Is notso severo ns Inat yonr, but it s sevoro onough to oocnalon serlous con- comn, In Minncsots, the grasshoppers have stxippod & rango of oountlos, boglonlug in the southwestorn part of tho Biato, ontirely clear of vogotation, and they 8ro.now advancing in myriada in o morthorly dircotion, A loud ory for rollof lins boon ralsed by the sottlors in tho dovastated roglon. Gov.Davie hias 8o far no- tiood it 88 to call tho sitontion of Grangors to tho suffering of thoir brothron. This Is not enough!' Thore muist bio a moro united and pow- ertal roliof movomont, in aud out of Minnesota: Tho grasshopper plagus is bocoming almost a national affair. It throntons o famino, It muat bo provided for in the future, as far as possiblo, by the application of some of tho plainost teach- ings of exporionce, which wo wore at somo pains to inmat upon when the mattor was before the Leogialaturos of Towa and Mianosota last wintor, A daobato of somo significance oconrred in the British Houso of Lords yostorday, The Drusscla Congroes was undor consideration. In responsoe to an inquiry, Lord Dorby enid that tho British Government had given no particular encourago- mont to tho projoct, but hind, aftor some hosita- tion, declded to send = roprosontative, atipulat- ing that England ghould not be called upon to discusa tho rolations of bolligeronts, or undor- tako any now ongagoments in regard to gene eral principles. Tho ground of the Governmont approhension monifostly 18 that: tho Congross has tho patronago of tho Emporor of Russia- andthore is a sispiolon that ho will saok to erip, plo tho naval powors by securing tho adoption of stringent rules for the regulation of maritime warfare.. ‘fo such a programme England, of courso, 18 ntronuously opposod. Not tho loast intoresting devolopment in tho dobate was an unfriendly referonce to the Russian Emperor. It protty evident that Marie Aloxandrowna's for- ofgn Influonco has novor extended beyond tho hoarthatona of tho Poct-Laureate. As a ponce- ‘makor 8o has beon a dismal fatlure. * Our supplemontal shoot this morning ia fillad with: interesting mattor. A special correspond- ent travoling in Europe glves an scoount of his tour in NorthernTtaly, cloning with.a doscription of Venico and his porsonal experience in that ' city, whioh i in some measuro & new thing un- der the dun, A local article on tho adultoration of food will bo a revelation to tho confiding part of human-kind. It it is truo, a8 has boon olaimed by Madame Hyacinthe-Loyson andmany loss dia- tinguished temporance poople, that dyspopsia 1a the most frequent cause of oxcossive indul~ gence in stimulants, tho adulteration of food is almost a8 groat-a wrong as tho mixing of bad dripks, But the moral quostions at issuo are rathor too abstruse for off-hand settlement in a newspaper paragraph ; they aro commended to the earnost considerstion of mocial roformers, and thoir opiufons are soliclted. Our reporter has sought to gathor the facts, aud, with thisend in view, hes consnlted dealers in groceries and an ominent physician. His task waa not an easy ono; to say that it was well done is as faint pralso as tha clrcumstancos will allow, Anothor foatura of thia morning's supplomont io & roview of tho doings at somo of the best-known and most popular Aummer-resorts, Articles of tlis description will appoar regularly in our Baturday morning iseue during the season. Secretary Bristow's energelic attempta at & radical reform in the Troasury Depattment have oxcited much opposition it Washington, snd the murmurings of the dispossessed ars boginning to find a way into the nowspapers. A complaint was mado In ono of tho Obleago ovaning papors yostorday, probably without the approval of the responsiblo editor, that the Secrotary is making » foint at reform, The facta do not support this siatomont. Mr. DBristow's last ofi- cial act boforo leaving for Kontucky was to ordor tho cleaning out of tho official stablos, whose existonce first becsme known to tho gonorsl publio Jast wintor, when the Williams laudaulet scandal was raisod. Tho great dangor ia that the Bccrotary will deal tao ‘hastily with the knaves and nincompoops who are attached to the Departmont in ono capacity or anotbor, Theao mon can - oxert a combined jn- fluendo of considerable powor, which may result in shortening the torm of Mr, Bristow's useful- noss. Wo romomber tho fato of Secrotary Oox when ho attompted to introduce Civil-ServicoRe- form. The now Becrotary may profitably taketo heart tho old fable about the bundle of sticks. He can safoly and oasily broak ail tho crooked stioks within his reach, by brealung thom one at a time, Enstern nowapapers, and especially those pub- lished in Boston, have been accnstomed to epoak contomptuously of the intelligonce and coulturo of Western peoplo, and perhaps no other Western city has beon singlod out for remarks of this naturemoro often than Ohicago. A sufficlont answer to all this will bo found in the firit report of Mr. Poole to the Directorsof the Public Library. Binco the opening of the Library for the circulation of books, on May 1, there g boen a stoady increaso in the daily averago of books given out, Thisaverago waa 138 for the firat woek nnd 740 for tho soventh weok, -The overage of the Doston Library in ite twelfth yoar was 604; of the Oincinnnti Library in ite slxth yoar, 778; of tho Now York Marcantile Library, for the yoar onding April, 1874, 054 volumos, It must be remombored that In all the comparigons made, the libraries mentioned have four or five times moro books to lend than the Chioago Library, This report is pretty good ovidonco that the pooplo of Chicago, if thoy aro not intelligent and cultured, would like to bo; and that Is saying more for them than the outside pross Lns been willing to say. Wo commond the roport of My, Poolo to the carnest conaideration of tho mombers of the Common Counoil who thought It wise polioy to reduco tbo appropriation for Library purposes, while in- crensing in many othor instances the items recommended by the Comptroller. A good donl has beon written abont the politie cal situntion in Bouth Carolina; and iuctdentally it has been shown that the Btato officers aro for the most part rascals, that the Stato Troasury ls bonkrupt, aud that tho tax lovies aro 8o out of proportion t6 the valuation of property as to bo equlvalont almost to conflucation, An additional chaptor in this shamoful story is furnished by tho corrospondent of a Now York journal, Ho has boon 8t somo palns to ascertain the condition of the schools and chburchos, Tne gohoole aro reported a8 being much bettor then could be expected, but what ia good in them is in spito of tho Btato ad THE CHICAGO DAILY TRIBUNE: minlatration, which lias porsistently, thrust upon the Bohool Doards “friars and eremitos, gray, black,and white," insiating upon no qualifications boyond a roputable standing In the party. Tho cburches in Houth Csrolins, according to tio corrospondent, ‘nre nothing but political ma~ chiuos,—of whioh satisfactory ovidence is offered in tho fact that a-Iarge proportion of tho Legln- Tatury {8 composod of nogro proachoss. Takon altogothor, tho outlook in Bouth Carolina ia diamal onongh. Tho single hope of salvation for thedo- cont peoplo thereisheld ont by the common-sohool systom, whiohmay yet pullthroughitaclf,sndbring in Its train & botior standard of morals, If this should prove fo be true, wo shall doubtloss hoar no more for a timo of tho Clurch in the Bouth s boiog the forlorn hope of the colored race. Tho ocorrospondont’s siatemont rogarding the Bonthorn nogro chiurches, that they aro in the main political machines, only confirma a suspl- olon which has long been ontortained by intolll- gont mon in all parts of the country, THE DAY WE D0 NOT CELEBRATE, Tho Annivorsary of Independonce has onco mqro come round. The groat fact which It com- monorates still romains, Patriotism atill crops ont boro and thore. Our forefathora sro still bold in hlossod and rovoreotfal momory. Tho lustre of Washington's achiovements has not dimmed in those ninety-oight yoars. The prin- ciplos for which ho fought are incorporated into our form of government. The country is pro- groseing satisfactorily. Ohburch and: Btato are distinet, Every men is as gaod as every other man. Tho negro has got bis rights, Slavery is nbolishod forever. Lovely woman fs almost within reach of the ballot. John Ball hias paid ua §15,000,000. Everything is lovaly, and the savior of tho Roman Oapital is at hia ox- tromio altitude. Notwithatanding this setistactory condition of {hio natlonal beatitudes, tha American Eaglo ia not particularly strong in his fight nor gritty in binsoresm to-day. Ho will fiy low and slvg small.” The day will not bs memorable by its celobration; ‘on the othor hand, by a kind of common essont, this duty haa boon relegated to small boys. Throughout the Unlted States, the day will secarcoly be recognized excopt as gonoral holiday, on which somo will rest, & fow will got their arms and legs blown off, some will got drunk, and thoso who ‘can will fiy to remote spots to escape the noise. ' The dis- tinctive fentures which bave hitherto marked tho celobration of Fourth of July will bo almost unl- veraally discarded, There will be fow or no pro- conslons thronging the publio strecls of tho largo citles. The mania for procossions in this country scoms to bo dying out, and fow, except the Masons nnd othor organi- zations - which wear aprons, And must ox- Libit themsolvos to keop np thoir.esprif de corps and make » publio offect, now caro to march sbout in the sun, with no special objact in view: Tho flzz and splutter of fireworks, which have' ‘horetofore illuminated the closing hours ef the Fourth, loaving nothing to show for. the sums oxpended but o collection of blackened sticks and pasteboard, will also bo ‘sbeont from clvio programmes, and Copgla’ comet will be left to shino comparatively undisturbed. Tho public clocutionist will not, to-day declaim the sounding poriods of the Declaration of Iado- pondenco, - The village 'Cloeros and Demosthe- nesos will not numerously air thoir patriotie rhetorio nor hurl bolts of deflance at Goorge TII. aud his doscendants. The stump will bo com- paratively dosorted. Brass bands will not draw extra pay. The militia will not parade with 1ts gorgoous wuniforms and more gorgaous drill major. It is doubtful whethor tho conventional thirty-soven young women in white ava pink will do duty for the States to- day, aud the rural Goddess of Liberty, instead of riding on tho apox of tho hay-rigging, with o Phryglan cap to give Ler tho headache and & flag-atafl to give her the back-ache, will probably milk hor cows this morning and churn” her but- tor. na if thore wore no Fourth of July. In Chicago, it is presumable, some bolla will be Tung; somo cannon may be fired; somo citizens wlll get drunk; some horecs will run away: somo houses will bnrm down; somo youngaters will be minus fingers or oyos; somobody will cat too many chiorries or oucum- bors and drink too much soda-water; somobody will get drowned ; several will got into tho Police Court; tho younp athletes known as tho Ohleago Bage Dall Ciub will got ea soundly whipped by tho athletes from Boston as ever the Britishors wore s hundrod yoars ngo; the enfant terrible will blazo away with erackor, squib, aud sorpont, from daylight to dark, ond this will bo the sum total of Fourth of July in Ohicago. 1t doos not follow, from all thls, that poople are any less patriotio than thoy used to bo; that they aro loss mindful of tho blesalngs of liberty bequesathed to thom by their forefathors; that they aro loss dotermined to perpetnate tho re- publican form of government; or that thoy would not defond it again by the forco of arms, a8 they have done thrice beforo, But times and people sre ohanged, and George IIT. is only a distant reminiscenco, Tho nation 1s outgrowing moro nolse for tho sake of noise, and show for tho sako of show., Buncombe and slam- bang bave had tholr dsy. Bomothing olso {8 now wanted. Some lcss poisy and more rationol programme of colobration ia de- elrod, and ho will bo a mnational bone- factor who suggeats it. Long-winded orations, burniug of gunpowder, and waving of flage, 1moan nothing, and kave grown, by fraquont rep- etition, to be o nulsance. Who will suggost a plan for the colobration of the Fourth of July in such & manpor that peoplo will not run away from It, and bo glad when it is ovor? THE BPECIE HOBGOBLIN, Wo aro asked by a correspondent (in another column) whethor we can evor Lhope to maintain speoio paymonts pormanently ; whether a spocie basis hae not always failed when tested by a pavic; and whethor, in this oage, it is not un- wise to attempt lo rostoro specle payments at oil. Tho snme quoations have hoen froquently asked, and huve formed the sleplo of several specchos in Congress, It iy worth while, thoro- foro, to answer them, There was & short suapension of spocio pay- monts in 1837 and again in 1857, both resulting {from the commercial panica of thoso perlods. It 1a noodlesa to Inquiro what the causes of those panlcs wero, Wo agroo that thoy aro liable to ocour again—~perhaps onco in twenty years, por- haps oftouor, Tho panio of last Boptomber was ono of the same gort as that of 1867, tho only differance botwoon them boing that in 1857 wo suspendod specie payments, sud jn 1878 wo suspended currency payments, and tho suspen- slon continuod in tho one case about as long as jn the other. Would it mot be a fair question to ask, borrawing tho language of our corro- spondent, whotler wo can ever Lops to maintain ourrency psymonts permanently, and, if not, ‘whotlior wo had better not dlspenss with oure .SATURDAY. JULY 4, 187" renoy as wall as apoote, sinco in timos of panlo both dlsappear, or exist only in insufMalont quan- ttlos, Tho results of a panfo are that averybody clutches at the means of payment, and it makes no difforenco whother the monns of paymont aro gold and sallver colns or logal-tonder notos, thoro will not be enough to go around. A groater volumo of logal-tondor notos will not help the matlor, sinco such groater volume will meroly Inflate pricos, canolug everybody, whon the panie comos, to owo two, three, or four dollnrs whoro ho now owos ono, Xis dobts being correspond- ingly incroneed, tho inoresso of currenoy will avall nothing to provont & panlo or to ward oft ita offcts, A suspension of currenoy paymonts will ensue, preclsoly as » susponsion of speoio paymonts ensuod in 1857, But thore are somo manifeost advantages in spocle ovor paper ourronoy in times of panie, slnce wo can always obtain specle in any doslred quantity, up to tho limit of our oxportablo prop- orty, from forolgn nations, without causing an unduo influence of pricos—prices of commodi- ties bolng mossurod by the wholo smount of coln-monoy in tho world, and not by the smoupt in suy partioular country. Thoro {8 no guch yes- orvolr available to moot the oxigonolos of & panio, whon {ho business of tho country is on o our- renoy basis. Wo do not overlook the fact that in tho Beptembor panic last year the Govern- ment did leaus some $15,000,000 of currency— that is, it bought In {ts own bonds to that amount., Tho nct 18 now'admitted to have boon an unlawfal ono, and to have been productive of 1o good whatovor. Thoe holders of Unitod States bonds weore mnot the partles really fn poouniary distress at that timo, Tho bonds, for which the- Govoernmont ehoved out its pgroonbacks, wore the proporty of tho Now York saviugs banks. Thore was no mn on theso inatitutions, but they sold thoir bonds apprehending & run, Thoy locked up their greonbscks in tho seme cavornas from which they Lad takon thoir bonds, and tho effect of tho oporation on tho paalc, fn the aggrogate, wasnil. How would it havoe been it gold, in- stead of paper, had bocn tho basls at tho time -tho panio bogan? Merely this, that tho holdors of thobonds wonld have sold thom to private peraons for gold, instend of selling them to the Govornmont for paper. It might havo taken a fow daya longer to sell them,~in Canada, En- gland, or Germany,—but the reault would have boon in no wise different, ¥ But, roally, the question our correspondent puta to ua I thia ' Blnco & ehort suapension of specio payments occurs sbout onco in twenty yoars, 18 1t not best to have a perpotual suspon- sion ? Ho doos nol moom to romombor that, when 5 susponsion occurs, it simply puls us in tho same plight we aro now in; orrather it doos not put usin so bad aone, ainde the currency soldom dopreciates moro than 2 or 8 por cont under & commercial panio, whereas it is now, and hna boon for o long time, depreciatod more than 10 por cont, In 1857 the currency dopro- clated, aftor the susponslion of apecie payments, sbout ms much as bank chooks and oloaring- houss certificatos depreolated in 1878 after the susponsion of curronoy paymients, The resl question being whether it is not wiser to have n perpotual suspension of specio paymonts than a tomporary susponsion oncein avery twenty yoars, we answer that, in our judgment, it ia not, It isa woll-known faot that the Scotoh banks have nevor snspended spocio paymonts. During all tho suspensfona of the Bank of England— the oply prolonged ono baving been caused by the Government aud enforced by act of Parlia- ment—~thobanksof Scotland contintted to pay coin. 'This shows that thore {i'no nbeoluté hecessity of » suspension of specie payments inhorent in tho banking business—thnt & specio basis does not necessarily carry with it the constituents of specio susponsion. Is it asked why the Scotch banks nover suspended ? Bocause thoy are good bank- era, Thoy do not carry a largo amount of gold coln in proportion to thoir liabilities, but they undorstand thoir businesa bettor than othor bankers, Thoy watch the courso of trade, tho solvency of thoir customors, tho state of the cropa and the markots, and thoy know thorough- 1y tho hablta of thelr pooplo. Thoy know that whon Bootland is produoing more than sho con- sumes and is not incurring labilitios beyond hor prosont moans, o panje Is {mpoesible. When they find a oontrary state of things existing or threatonad, thoy curtail tholr own liabilitios and apply tho brakes which it is alwaya possiblo for the bankas of n country to apply 12 they bogin in soagon. Thero nrosome banksin New York ‘which did not suspend apecto payments in 1857, and would not have suspended in1862if tho Governmeont had not compelled thom to do so by meking o dopreciated currenoy logal tondor. We trust the timo is not far distant§whon tho various phantaems and hobgoblins regarding & spocio basia shall be diepelled by an actual trial of its merits, It will be found, whon that timo comes, that thero are no evils connectod with specie payments which are not equally inhorent in currency payments, whilo there are groat ad- vantages appertaining to the formor which are wanting in the latter, among which may bo men-~ tionod stability, honesty, and justice—threo elemonts, without whioh any clreulating medium is & caricaturo ond a juggle, MUNICIPAL BONDS, Tt has beon decided by the Suprome Court of the United Statos in tho recent case of Jtecs ve, The Cily of Wateriown that, whore the ofticors of amunicipal corporation ovado willfully tho ox- ecution of & judgment ngalust it, the United Courts have no authority to lovy & tax to pay tho judgmont j that although a Court of the United Btatos bas, in o propor oase, judsdiotion to isaua & writ of mandamus to compal tho ohlcers of » munieipal corporation to lovy a tax, it ean- nat direct ita own ofilcer, undor auy ciroum- stances, to enforco tho writ by levying on the property of individuals, unless oxpresaly author~ izod to do o by Btato cnactmont. Tho facts in tho oage are these: Tho Clty of ‘Watortown, Wis,, issued tts bonds to ald in the conatruction of the Watortown & Afadison Rail- rond Company. Roos, tho plaintiff, was the owner of somo of these bonds. Tho City of Watertown rofusod to pay them. Roes sued soyoral timos, and recovered judgments amonut- ing in tho aggregato to $11,060.89. Lxcoutions were [ssued, but returned unsatisfled; He then procured from the United States Cirenit Cours & peremptory writ of mandanius, directing the City of Watortown to lavy and colloot a tax upon 1ta taxablo proporty to poay tho judgumonts, but, boforo the writ could bo sorved, 8 majority of the mombors of tho City Council rosigned their pficos, Procoedings ou the mandamus atter this consed. This was In1808. In1800a lovy of tho tax was evadod in & aimilar way, Aud #0 In 1870.. Tho plaintift flled & bill asking tho aid of the Courts of the United Btates to subjoot taxablp proporty of tho Oity of Watertown to the payment of bis judgments, and that tho Mor- shal of the distriot might bo ompowored to selze and sall 5o much of it as might benogessary, sud topayover to him the proosods of such s ‘Watertown liss a population of 7,558 inhabitant Its proporty i assosscd at a littlo over $1,000,- 000. Tho dobt of tho olty Is $760,000. Thoso facts wore pleaded by tho city to show that it could not pay its bonda, Of thia plea tho Court, of courso, took no notles; but, votwitstanding, was of opinfon that it hind not the powerto diroct & tox to bo lovied for tho pay- mont of the judgmonts. Tho power to imposo burdons and raiso monoy it hold woro loglelative, not judicial, powors ; and thore was no ensotment of tho Logislature of tho Stato of Wisconein ex- prossly suthorizing tho Court to do so. The opinton itsolf, which was dolivored by Mr. Juatico’ Hunt, and Is to bo found in tho July numbor of tho American Law Times and Ro- porls, ia & veryimportant ono. It shows that our systom of law is not comploto, sinco the oroditor of a munfolpal corporation cannot, under i, collaot his dobt, if the officers of a corporation aro dispogod to evado it, The decision wlil have o bad offoot on tho cradit of amall eltics, ou- pocially it alroady in dobt, IOWA AND HER PLATFORMS, Tho Btate of Iown, 8o far aa tho notion of her political partlos Is concorned, desorvos high honor for tho msunor fo which the State has beon vindicatod from tho ropzonch of ropudia- tion and inflation cast upon her by s majority of hor dologatlon in Oongross. Tho Ropublioan Convontion and the Ant{-Monopoly Convention both scomed to appraciate the degradstion in- volved in silence on the question of national finance whon & majority of Congress had voted for o now {ssuo of shinplastors, and decided that tho Stato should eomphatically doclaro for tho maintonance of tho natiounl honor. Taken in tho order of their adoption, these resolutions rond na followa : Firat, tho Anti-Monopollsis resolved ¢ TThat the faith and crodit of tho natfon must be ‘mointainod inviolsto; that tho public dobt, of what- ever kind, should bo paid in strict accordance with the Inw undor which it was contracted; that sn over- issuo of papor monoy being at varianos with the princlples of & sound finsnclal policy, the clsculating ‘medinm should be based upon ita redomption in apacte 8t the earliest practicable dny, and ita convortibility into a spcolo oquivalont at the will of the holder; sud that, subject to thosoreatrictions, it ts tho duty of Con- gress 40 80 provids by sppropriste logisiation that the volunio of our Government currenoy shall at all times e adequato to the gonoral business and commerce of the country, and bo oquitably distributed among tho soveral Btates, Becond, the Ropublicans resolved : Thet . . . Wwo fovor such legislation sa sboll mako Natfonal Banking froo to all, under just snd equal laws, basod upon the policy of specle resump- ton at such time as s consiatont with the material and industrial interests of the country, to the cad that the Volume of ourrency may bo regulstod by the natural lawa of teado, ‘That we reaflirm tho doclaration of the Ropublican National Platform of 1872 n favor of the payment by the Government of the Unltod Btates of all ils obliga- tons, In nceordance with Loth the lotter and tha spirit of tho Iaws undor whick such obligations weraleaued; sand we declare that, in tho absenco of any express provision to tho contrary, iho obligations of the Gov- crnmont, when fssucd and placed upon the markets of tho world, are payabloin the world's ourrenoy—to-wit : spocte. Here we have the unanimous doclaration of tho pooplo of Iowa, roprescnted in opposing Conventions, that it is the duty of the Governe mont to placo the currency of tho country, bank 08 woll a8 natfonal, upon tho basisof specle re- domption at tho earliest practicable moment, and that tho outstaunding indebtedness of the Govarnmont should bo paid in atrict accordance with tho law under which it was contracted. ‘Tho Republican resolution oxprosses the ob- ligation to pay tho national bonds in coin more dirootly whon it saye thaf, *‘in tho absonco of sny express provision to the contrary, tho obli- gations -of the Government, when issued and placod upon tho markots of tho world, are pays- | ble in the world's ourroncy—to wit: speoie.” But the resolution of tho Anti-Monopoliats, that “tho faith andorodit of the nation mustbo malntainod Inviolate, and that tho publio dobt of whatever kind should be paid instrict accordance with the lnw undor which it was contracted,” is rendered more emphatio by tho decolaration that the circnlating medium *should be made con: vortiblo into a epecio oquivalent st the will of the holder,” Takon together, thoy oonstitute a flnancial codo of tho most honora- blo charactor, aod constitate s fitting ro- buke to those Congressmon snd newspapers that hove ropresonted the paople of the West and of Iowa a8 in favor of deprociated currenoy, and tho payment of any portion of the public Aobt In greenbacks. Tho resolution of the Anti- Monapolists aldo ospocially roprobatos an infla- tlon of the currenoy as at ‘‘varinnoe with the principlos of & sound financlal polisy.” We oite thoso fosolutions as an all-suficient answer to tho domngogues who bave beon repro- sonting that the pooplo of Tows, and of the Woab gonerally, wero in favor of tho toosest kind of financial polioy ; that they wanted a new lssus of greonbacks to make money plonty and cheap ; that they woro in favor of solzing the §400,000,~ 000 of bonds doposited by tho banks as so- onrity for the bank ciroulation and ro- dooming them with doprociated pamer; and that thoy wero In favor of & sub- stitution of paper for coln in tho busincss of the Government, Thoso wild snd daugorous thoorics havo been proclaimed aa the gontiments of tho pooplo of Towa, and Low far tho peoplo of Towa repudinte all such principles and policy let the resolutions of both partios attest, All Lonor to the people of Tows tor their prompt snd manly vindleation of their own integrity, and for the thorough support thoy givoe to the national crodit. e ———emg DE LA CONCHA. Marshal Manuel do la Conoba, who was Lilled recently at Estella while loading tho Spanish Ro- ‘publican forcos agalust the Carlists, was born in 1704. He fought in tho wara with Napoteon, lator In Spauish Arforicn, and, iu 1824, in the Carlist war for Isabells, then undor the Bogenoy of Alaria Clristina, Tho rovolts in Murcis and Valoncia claimed his attention in 1848 and 1844, for hi ser- vicos in suppressing which he roceived the titlo of Captain-General of Catalonia. In 1847 Spain had gome trouble with Portugal, and Do Ia Conchin acoupted Oporto with an army of 5,000 wmon, The eamo yoar ho was a member of the Cortes mud an- ultra Conservative, In 1840 ho wont to Italy to mid tho Popo. On his return he was again mado Captain-Genoral. He took part in tho fusurroc- tlon of 1864, which lod to hia oxilo to the Canary Islos. Ho found means, howover, to roturn, commanded the Iusurreotion and paved the way to tho triumph of Espartoro, e was now made Marehal. When O'Donuoll gverthrgw Espartoro, De Ia Concha was forced to give up politics, In 1808 he was askod by Isnbolla to form s govern- mont; but the Quoen Laving rofused, at his sug- gostion, to sond awsy Macfor], hor felend, he ra- singod, Laving previously instructod the Madrid garrison to offer no furthor opposition to the Dpopular movomont, ‘When, last epring, $he Carlists wore haying overything chiolr own way in Dikoay, Borrauo up- plied to De Ia Conolia for his sorvides to ald him fn rolieving Bilbos, With 0,000 men Dg Is: Conchn marchod sgalost the Carlivta from Madrid on April 11, Whilo Berrano was aitacking them jn tho fropt, he atinoked thom in tho yeer, and succosded boslden in Jolulng hix foroes to those of Berrano. May 11, De 1a Con-~ oha wag at Portogaloto; on tho 13th, at Bomar- rostro; on tho 13ih, at Bopuorta; on tho 17ih, at Ordupa ; Vitorls on tho 10th, and on June 0 at Lagrono. His plan was to drive the Carlists into & mmall distriot without any resources, and thon to dlctato torms to thom. Ho marched into the Proviuce of Navarre, intending to ostablish a fortiflod lino to provent the Carlists advancing boyond it. In consoquonco, tho Oarlists wore forcod from Durango to Estella. Mo had undor Lls command 88,000 men ; tho Oarlists only 24,000, Juno 26 he bogan his attack on Lstolln, aud on tho folloming Sunday was shot, aftor his army lind boon dofeated snd while thoy wore retroating in o rout. Tho Alla Oalifornia, of Ban Franclaco, atatos that in Boptembor; 1873, the Burvoyor-Gonoral roportod that thore wore then 28,482,614 grape- vines in tho Stato, and that in tho previous yoar thoro had beon mado 4,100,301 gallons of wino, Throo countics were not includoed in the roport. Every county in tho Biato has vineyards oxcopt four, and tho avorage numbor of vineaton county is balt & milllon. Many oounties have over & million, and tho vinoyards oxtend from Blakiyon to 8an Diogo. Tle area covered by the ‘vinos 1a 40,000 noros, or somothing over700 vinea toannoro. Thoro havo boon comparativaly fow vinos sot out within the last threo years, so that all tho vines are now bearing. A Iarge propor- tion of tho vinen aro of varjetios Importad from Europoe, purchased in France, Gormany, Austris, Spain, and Italy. When planted, they requiro clono attontion uutl they begin to boar, The avorage cont for Iabor, cuttings, and Intarest ls $50 por acro for the four yours in which they are coming to maturity. Tho avorage value is $400 per acro, though thore aro many vinoyards that ylold $200 an acre prosit annually. An avorago crop of whito Muscat is 8,000 pounds though a largs crop- {s 15,000 pounds to tho noro ; those aro sold at 7 cents per pound, and tho oxpense fa 200, leaving from 8200 to @800 an acre profit. Tho Flamo Toksy, the Blak Hamburg, snd the Roso of Pern pay from $500 to §G00 an mcro profit sannunlly, Tho sverage yield of wino from tho Zinfindel, Riosling, Borgor, Black Malvotato, Goldon’ Chnssolas, Frontignan Muscat, and Gorman Muscat is 800 gallous por soro, Thls wino when six months old solls at 75 centss gallon, and the oxponses are not over £800. The common prico of Misslon grapos i about 820 por ton not ; #hle Is oquivalent to §80 per acro, or o profit of $60 per soro. In many dis- tricts vineysrds are paying good incomes.on values of $2,000 por acre. Most of tho land occuplod by vinoyarda le gravolly or sandy, and will not produco whoat or vegotablos. Tho Alla contends that tho vinoyards might bo doubled upon lands unfit for othor purposes, and urgoea the incroase of tho graps oultureas a source of groat profit to tho Btato, : ———— . The sgitation in Iroland during the last threo ‘yoara has been fn fayor of *‘Tome-Rule,” which, translated, means that Ireland should be allowed » locsl Loglalaturo to pass all laws, and rogulate tho intorna! potioy of Ircland, the Imperial log- islative anchority romaining in the British Par- liamont, At tho lnat election, this was made tho tost by tho * patriotlo * party, sod in England there wore threo or four Home-Rulera elacted. The matter was fully debated in tho British Par- liamont during & weok, and on Thursday there was & voto. ‘Tholome-Rule proposition was do- featod by s vote of yoas, 61 ; nuys, 458, Iroland has 105 members of the British Parliament, so that onthe direct question Ireland was about oqually divided. IfIrcland had a local Parlin- ment, tho chances aro that it would bo so nearly balanoed between tho contonding parties that its proceedings would bo inbarmonous, and that the minority would be, o8 Mr, Diaracli eaid, contin- nally appealing to the Imporial Government to interfere. Whon Ireland is united, an appeal to tho British Partiament would porhaps rocoive s mora favorable bearin g, Tho Iatest thing which has Ianded on Mt, Ararat sinco Nosh's ark {8 & nowspapor, which haa recently boon startod by some Amorican pllgrima. It s oalled Whiffs from Ararat., Tho firat numbaor containg somo interesting informa- tlon for the pilgrims in thio shape of tho markot quotations of Armenlan girls for wives. Thoy ranuge from $10 to $80, according to age. Now that o nowapaper s published on Mt. Ararat, tho entorprise of tho modorn reporter may lead to the diseovery of some remnanta of Noah's oraft, —_— CANADA. Valuable Iron Country Discovored— Lumber Exports for Junc—News Ttoms, Svectal Dispatoh to The Chicago Tribune. Tononto, Ont, July 3.—The counatry sur- rounding Madoe, in the County of Hastinga, has becomo celebrated for the richness of its mineral doposita; several flourlshing iron minos oxiat in the district, and tho noblo motals have also been found in abundanco. In the two or throe nonths pust, & company of miners from the United | Btates, who have beon engaged fn jron mining inthe Lako Buporlor rogion, have beon pros- pooting in the reglon to tho roar of Mado, and the roault is tho discovory of a vory rioh deposit of iron ore, bolow tha surface of tha ground, in the midat of & hard wood forost. Al attompts at proapectivg liave boon oqually succossful. On Dominfon Day tho lead was formally oppnod. The Hon. A, MoKellar, Commissionor of Public ‘Works, applied the match to the fuse, and named it the Dufforin Mine, In honor of the Governor- Genoral. A largo gathering of pnblic mon and oapltalists was prosent, Spectal Dispatch to The Chicaao Tribune, OTTAWA, Ont., July 8.—The amount of lumber sxported for the month of June from this piace wag noarly 23,000,000 faot, as againat 28,000,000 feat for the same montb last year, The number of Amoriean boats freightod with lumber was 154, 8 821ast year. Thay carrted 13,000,000 feet. Bovonty Canadiau boats cleared with ‘the balance. Tho Anterican boats aro fast procuring a monop- oly of the freighting buaincey. ‘Tho Governor-Goneral starts on his western tour the first of the coming wool. ‘Suecta Disvateh to Phe Ohicagn Trfoune, Monynear, July 8,—Thoe Cartier Club s the namo of & now Irongh-Cansdisn Consorvative club juat organized. ————— e SOUTH CARCLINA, Sad Condition of the Stnto School= Systom, New Yong, July 8,—A lettot from Columbis, 8.0, on the educational inlorests of Bouth Carolina, saya: *Tho presont cgmmon sohool syatem in this Btato, as a systom, is excoodingly good, and although tho monoy collected for sohool purposcs has often boan approprintad to corrupt uses, or squandered by ignorant officlals, the number of sochools and echool children has boon constaptly ou tho fnoressa eince tha otoma of the War, Duriug tho pastfive yenars, it is estimated that 200,000 children wero in attond- anco at the publlo sohools, and reacived the olo- monts of an English education. Q! this pum- bor, & litile over ono-half wora qolorad. 'Tha Btato Buperintendent of Schools, in & conversa- tion with the writor of the lottor, aid thnt his dopartmont Iabored yndor many difii- cultios,” Among the most sorioun a{ theso was tho looso snd fvrogular way {u whigh appra. priations for eohoo) purposes wore msdo, and tho jguorauco, incompetcngy, and neglast of duty on the part of the school oficors, = Updar tho'law, County Loards of School Comml!fl?ol ors aro electod, snd tho County Boards of Trus- toes and Examinoys are npsnlnml by thom, In many cases rice-flold handu and other nograey, whooan nefther road nor writo, ato elogted to tho offjoe of Commisaioners, and thoy, In tura, appoiyt Trustoos and Examiners wha do ok kuow one lettor from apothor, and tho result s, that toachors are golootad who should thom- solven bo pupils in some of thq primary schaoly, Tho chjurches, in most instaucos, ara chargotor izod as-mere political mhchines, in™ proof of which It {8 statod thata lirge portion of the mowmbers of iho’Laflmlnturq ‘aro ministors in nogyo phurdhios, " o ATLANTA COTTON' EXCHANGE, g ATLANTA, !‘llAl..e Jn‘lqy 8.—A oouu?‘ BE:fil\gngn Was organized hero Q-1 ' Taout, hud L. B Wights = oovetaxy, .POLITICAL. The Nomination of Mr. M. C. Kere for Congress by the Democrats of the Third Indiana District. Au Intorview with That Gentleman.-His Yiows on tho Financo Quostion, The Arkensos Constitutiona] Cone vention Overwhelmingly Couservative, The Domocratic Convention in the Third Congrossional District of Kna dinnn—An Intorview with tho Hon. M. C. Korry Its Nominec. Correspondence of The Chfeago Tribune, Berioun, Ind,, July 1, 1974, ‘The Conventlon for tho nomination of a Dome ocralio candidato for Congrona in tho Third Y- diane District assombloa hero. to-day. Daring the day, whilo tho delogates wero as- sombling from difforont direotions, & fres min- 8ling with tho orowd rovoaled the fact that the delogatos had come up with ono purposo; and, though the Convention was nothing like as large a8 formorly asromblod In this District, yot it “was reapoctablo, and all for tho Hon. M. 0. Kore for Congrass, To Aay that party-enthuslasm no longor roigns trinmpliant, but feebly represonts the true situ- ation. The timed-honored forma that used to galdo thoso convontionn, that wero attompted ta bo asaumed {n the procesdings biore, rominded ono of an old soldier who fondly parades,long aftor tho war I8 onded, his shabby uniform, on which but a singlo button or two ars loft., The fact s, thla old Gibraltar, shorn of a part of its bulwarks by tho lant Logialature, is orumbling down, It is boing undormined by. joalousics and porsonal bickerings, and the party, a4 such, will bo, as 1t ought to be, disintegrated. Mr. Kerr rocelvod 1ho nomination, as thero sas nocontest by thoso opposed to him; but THE Y10 NT WILL DE REBEAFTER, It 8 understood that the most popular Dom. orat In one of the largest counties, flanked by two ex-Con gressmen and thres or four promi- nont Demoorats of tho district, will contost tho fleld on election-day, and it is claimed that bo will Liavo the support of tho Grangors, Republicans, and Reform Indepondents. Tho district stands now about 5,000 Domoaratio majority. It was noticoablo that nelthor 8, K. Wolfo, the prosant momber of Congross, nor Gen, Oravon, nor John 8. Davis, was prosent at’ the Convontion. This looks ominous, and_givea coloring to the ramor of an Indopendont Domooratio opposition, Bofore the Convonsion assemblad, I obtainad a short interviow with tho candidato before the Convention, and olicited the following views on tho Ananolal sitution : 28, KERR ON TOE FINAXCE QUESTION, ' What I your judgment concorning the cur- ronoy bili vetood by tho Prosideut, nud the ef- fact ity nrpmvnl by him would have produced on the gouutry 7" “It seoms to ma that the bill was utterly worthless, both a8 a measuro of relief and ns ono of polioy; ond that it would cortainly hava operated rathor to contract than to inflate tha ourrency. 1t would have lugn!iza:] an increase in the groonbaolts of 818,000,000, and nominall; of §46,000,000 in Natfonal-Bank notes ; but I{ would have really inoreascd the reserves boyond suy procedont, and worked matorial contraction, It also onlafged tho powers of the National Banks. I think, thoreforo, that the Democrats of tho Housa did right in voting against it, and tho Proaident did right [n votolng it. It was loqluhfiw fraud." * What do you think will be tho effact of the socent Currency bill signod by the Prosident > “It 1 littlo botter than a pleco of usoloss atehwork, It fuoronsos tho privileges of the anks, without adding to thoir obligations to serve tha peopla, or in any way imvroving _their curroncy, which bougruu cannot do, nobody can do, and no power can rogulato, axcopt the fixed and irsoversibla Jaws of business, commoros, and oxchanga; for the curroncy of any country will, of necousity, 56,1t t obiauaols i which tradg roquiresit, ‘It Is nooded to malto exchangos, and it will go, in epito of human lnws, where oxs changes are most numerous, Bottor tako all ourrency-making from these banks, It we musk bava irrodosmablo and dopreciated ocurrone oy, let us havo tho grooubaclks, aud loes taxation, and lesp interost to pay. Rut, above all thingw, the country nceds © qurrancy basod upon coin, which the Constitution " roquires, and boyond the control of monopely, and finaucial . advonturers, aud gamblers.” That bill gxupouel to distribute to the West and South 265,000,000 of National Bank curroncy. Now, to roalize that in tho West and Bouth, mon wha want.to bocomo Natjonal Bankors will practis oally bo raquired to gbtain of the ourconcy now In thoae seotions $70,000,000, and to take that to .the East and buy bonds, and to ssnd those bonds to bo doposited in Washington, in order tha thoy may obtain from the Government £55,000,~ 000'in National Bank nates to bring back to and uge in those soctions. Thus tho Wost and South glvo 870,000,000 to the East to get 853, 000,000 for tho Weat. It is s mockery to say thal such an operation can afford firanolal reliof to the country,” ‘* Do you want me_to infor that you favor imy mediste rosumption " ° “* No, sir, for I do not; but I want thoe faco of the ummér{ turnod toward ultimate rosumption, and the polioy of the country to bo got in that dirootion, 8o that o may gradnally, wisely, and without shock or luflmtlm!, rotura to it in 'a faw yoars; and e:}muln'l ly that wo shall take not on¢ atep baokward.” ' Thon I suppoge you ara opposod to inflatioy a8 3 Tolief ¢ prosgnt 7" * “ Inflation would not bring true or honeat ro« llof to the people. It is not what thoy nood, 'They naed more capital, more of the earnings of labor and the acoumulatious of economy, and loss arodit, loas debts,~nuot more depres cintod ourroncy, Inflation, like Protoo~ ion, 18 essontinlly dishonest and une equol, If all the produots of tho country were * proteated " to exaatly tho samo extont.~ that is, equal on avery commodity, ~¢hen, ins atantly’ and clamorously, evory Protectionisi would bacome & Froo-Trader; beosuse what Le wauts is not equal taxation, but tho contrary,— ho wants to gel| dear and buy cheap, Ho, if in« flation of the ourrency wonld equally {nflate tha Erineu of all products, then nnbody would be enofited by intiation, and noboay would want it. But it novor does. It chiefly advances the pricos on thinge ownod by tho rioh, tha capltalists, tho gamblers,—such as spooulativo bouds and Aocus ritios, worthless stooks, fanoy real estatv, and {mmenso pupplies of goods and manufactures on band and awaitiug buyors. It raises the pricog of produots of tho soil and thio wages ,of lubor mosp slowly, and in compamtivoly-trifling ex- tent, wo that such olasaea &ve practically swindled by intlation. All such neod only a curronoy thaf 18 absolutely equnl and fuir towards all,” . * *In theso viows do you think you are in hare mony with tho msjority of the country?” “1 do not kuyow, 1'ho country, and all partios, aud the pross, are greatly unsattlod on thesa aubjeats; I {hink the vapid teudoncy of the common judgmont {8 to tho scceptanca of thorg principlod as nocassary for tho prosperous gove ornmont of tho eauntry, But it cannot be suid that any party has eny comuman faith gnd sottled !mlio on them, All t"s peoplo a0 much agle atod and filled with naxioty, sud thoy aro hon oatly qocking trus principles and battor condi- tions ; and al] thore things aro oucouraging, and will cortainly load to good, and, I beliave, toa roturn ta tho wise and excellont polioy under which the country was so prosporous hofore th tho war, That is my bopa, ‘tho temporary nmI ofton revolutionary oxpedients of the clvil con. ot must pags away, aud wo muat and will rqe turn to tho rule of true atnteummmmly.“ "\What aro spmo of the clef stops In that dl- reotion i1 V*"The moro direct wonld be by ateady and ox- tonslve contraction of tho amount of papor, Aa that _tho offect would be to craste o truy dov nuud far mora currengg, and then coin woyld ay onca begin to flow toward our ualmlr{- Bu such & polloy would bs Liaral and unjust to the dobtor olassos, and caleulnted to produce muoly divaster. Tho next best fhing would bo_to res duce taxution of all kinds, “und to abollsh all taxea nof imposad lnsl rovenus, aud ostablisl complota froo trade in ehips, and hmroby reduca tho cast of production, aud mako loss monoy nocosapty in the conduot of nnlhmr{ husinosg, and Inoroaso our power 'of succesaful compatis tion in forolgn markots, and jnoronse our oxs ports, and briug ta our country the golde truitq of successful ocosn-commoroe, Wnd stop the rapld qutflow of the preoious metald produco in our minos, and tury tho ourronts ‘o forelgn colu towsrds us, snd conourrently compel our banks of {ssue to ‘graduslly acoumulato a colu-resorve, Proparatory to aotus} sosymption ; gnd, by all -thoso means, reuder & vaturg 4% lagth ¢ apecle-paymonts aaay. aud