Chicago Daily Tribune Newspaper, August 31, 1874, Page 2

THE CHICAGO DAILY TRIBUNE MONDAY AUGUST 31, 1874 CURRENCY AND THE TARIF| Lotfer from tho llon, Hugh McCulldch, Ex-~Secretary of tho Treasury, A Plan’for"“Rbstoring Specie- Stondard. Ropeal of thé Tggal-Toider Chnracter of “thio Grécithacks, Thoir Rotiremont by Piriding, and the Sihstitution of Frec-Banking, He' Profiouiides tho “Resolition of"the Indiana” Demdoratic' Convention a Crime and a Blunder. And Favors a Tariff for Revenue Only. Pramriesy, N, J,, Aug. 17, 187, Gryroesy: Your kind lotter of the 25th ult, way forwarded (o mo from Fort Wayne afler I lnd loft. I regrot that other engagomonts pro- « Yoot me from nccepting your fiattoring fovita- tlon to meot 1y fellow-citizous of Cinciunnti, with many of whom I was formerly connactod by ' business ond social tlos, and to spenk to them upon tho intoresting, and what you term * por- plexing,” subjeots of finance aud taxation, ... 1 amin no songo a {oncher. My opinfous npon tiieso subjects aro valusblo, only g tho viows of ovno who hag given to them somo Lhotight, and who lins beon influonced in his conclusions noither by personal nor political (party) considor- atione. As, howaver, you desira sh exprossion of them, and as T now find this cannot bo given viva voco, I do not Lesitato to oxpress them in this manuor. 3 It will bo sufficiont for my purpose to consider thint you especislly rofer by fiuance to the cur- ronoy, and by taxation to tho tarir, although thls i6 but a'limited view of thoterm. From want of timo I shall only bo able to oxpross the con- clusions I have reached, without undertaking to give tho fucts or argumonts on which thoey aro baged. " My opinions on tho subject of THE CURRENOY . aro woll kmoyn by. thoso who took ‘the troukilo to read my Fort Wayno ppeech and my reports ns Beorotary. of tho Tropsury from 1365 t0 1860, Tho opinions I thara established, in Ianguago na strong and unoquivocal ss I could command, Leye nelther beon” changed nor modified. On tho ,contrary, thoy havo,beon, conflrmed and Btrongtlioned Ly further observation and re- flootion, .I thonghtitto bo tho duty of Con- gross, considerin)y tho quostion in its moral, ag ‘well as it financinl, bearings, to adopt declsivo ond ofectivo mensures to bring about specio paymonts, and that tho time for the adoption of these measures was nt tho close of the War. I: did not thinl; that “the way to proparé to _ro- Bumo spacio payments was to resumo,” but I did think it of vital importanco to the best intercats of tho country that tho et DESTONATION OF THE SPECIE STANDARD “stiould bo tho end and aimof all legiilation bear~ ing upon tho subject of tho currency.’ My con- viction was clear and decided that this could only bo effected—within nuy . reasonablo timo, nnd boforo such fuancial disastor ns has recontly occurred and overwholmed tho country—by rotir- ing 8o much of thae paper currency in circulation a8 would bo neceseary to bring up tho residuo to par. I thought that this could be accomplished without tho oceurrenco of the apprehonded dis- ngter to tho business of the country, and without affooting in the lesst tho ron} valuo of proporty; that by o curtailment of . the ‘smount of incon- vertiblo notes in circulation, the purchosing, or measuring, powor of the remainder would bo proportionately increased, and tbat, conse- quontly, THE ANOUNT, 0F REAL JIONEY in circulation would not bo thereby diminisbed ; thiat tho measuring propetty by a falso standard could not add to its value, nor, by a truo stind- ard, reduce it. Thero was, it socmod to me, but onoclass in the community—the debtor class— who could bo benefited by o depreciated cur- rency, and I was anxions that decided action for rolioving the country of such & currency should bo taken immediately nfter tho ctoso of the War, when individual indebteduess wos lces than it bad been for meny years. It.scomed to me, also, that the injury to this class from a reduc- tion and consequont improygment of the cur- renay, would bo altogether less than was fearcd by them; that what honest and energotic dobtors needed was not logislation to enablo thom, to pay their debts in a depreclated cur-, roncy, but fegiatation that would give activity to well-direeted, not spoculative, énterprise, and atability to busincss ; tual is, in fact, ono debt is in tho courso of trade, usually paid by tho cre- ation of another, sud the’ goueral indobtedness of tho people i not ordinmily, from year to yoar, materially reduced, TUE DEBTOR CLASS itself was in no seriousdanger of boing injured by the elovation of tho standard of values, and that if debtors were to bo injured by it, tho in-' jury would bo tmall in companson with that which Liad been inflicted upon creditors, through tho legnl-tender actg, whichh compelled them to receivo in_entisfaction of. existing contracts n currenoy of far less valuo thun, thut which was the only lawful.money at tho tima. they wora made, and who gonerally. bore their fosses with- out murmuring, a8 & acritico required by tho, Governmont iu.its struggle with n gigantle re- bollion, . . At that.. timo, in_Innguage shich made up by explicitnoss what it muy havo lacked | in . strougth, [ pointed ous tho .danger aud .the unmoral _influences of an inconverti- ble nud dopreciuted currency. . By overy argu- moat I could make, and every illustiation I could bring to boar upon tho subject, I endony- ored to,proye in each of my reports’ that a de- {m'cinlul curtoucy was, and ovor would bo, any- hing else thun o positive, unmistakablo iu{ury to tho people, morally and financinlly ; that, fn rogard to such a currenay, thore could: Lo no !* stand - still -untile the-country-grows-up-to-it policy ;. that, by wiso Jogiulation, we. should .move _ toyorde _Bpecio paymants, or, by upwiso laws, ar by driting withoat chart or compass, wa shonld flnd ourselves upon financial breakors boforo weare conscious of immodiata daugor. - .In my. onzliest ultorances upon. tho -financial - question, in, s, free tallk.with my Fort Wayno .trionds, I romarked ' thint, whilp 1 rogarded an excinsive miotallic_curroncy’ smong an eutorptis- .ing snd, commercisl poople an_ impracticablo thing, 1 regarded au ircedecmabl puper cur- rency.agan ovil, which extromo cirenmstunces for a acason might reudor o nocoesity, but which should uever bo sustuined au o policy; thnt {he lpgal-toudor notos waro iksuod ug & War moaguro, and a4 tho war Liad boen brought to o succossful termination, meagures ehoutd bo.taken for ra- -tiring theso notes. altogothar, or bringing them up ta.tho specio stupdard; thpt I had no fuith in prosperjty that was. bused upon depracluted apor monoy, and that I ssw no sufe path to, trond . but that, which, . led = to epdclo _ paymont, That “tho oxtremely high prices provailing in. the United Btuled wero au unerring. indication that wo wero mensuring property by s falso standard ; that tha Unitoil \Blutos wora buumlu% tho . bost .country in tho woild for forelgnors to soll in, and the worst to buying Lhat thoe longer inflation . continued, the moro élmuulb would it bo to got it back to tho solid ground of apecie paymonta; that, if Con- H gross should, early In the approaching. session +(1805-'60), nuthorize tho funcing of the logal- tendor notes, and tho work of reduction should be commonced and enrried on rosolutely, but carefully and prudontly, wo should. rench the rolld gronnd without sorlous embarrassmount to logithuate business. It not, wo might, have a luiof period of hollow und soductivo prosperity, {cme'ltmg in widosproad bankruptey sud dlsag- or, . Huol were my sentiments tkon, ond auch are they now, A . The trath ¥, Ennllumen. and the reitoration of it ought nol to bo nocesuury, $iu Bty \00LD AND BILYEDR oro the only standards of valuo, and as long s We aro & part of $lio great family of nutions, and +Hig hauds nra tied, -mado a strictly party o n.commoraiglipooplg; iro coi rior mfi'a..mm‘hfi’oul' gmlnn by at. A round curronoy, fo thoivery lifo-blood of ‘& commercinl people, ,Nono but bankrupt ua- keop m circulation au lredeomablo paper cur- roncy,—n curronoy which, in their cascs, tendn to produce nnd porpetuate the poverty it ndi- catos, - Lo lho-{h:lced ~Htatos - such & “ourrency- is ntterly disroputable, slnce thers ia mot tho’ slightest nocowsity for it. Thnt o uation 7Q richiag oure, 80 grand in its rosoyrces, 80 vast In s productions,—n nation that hns ~ohinllengod tho ndwniration of - tha civilized world, by tho.rapid roduction of its .publio. dobt, -com: menclogthat reduction ot tho closo of & war tho, most.oxponsive that :hng over..boon earriod on, | and actually reduoing its indeblodness ac the, rato of.neavly $100,000,000.0 yony,—that :stol n nation should, for uo long.o, poriod, malntain n: dopreciated cirouliting mediuin mado {0 TAWFUL . MONEY I¥. RTATUTE, , . iz, to Intelligont foreignets, nu inoxplicable mys- tery, ‘Iha tipccio standard ought to hinva boen reachéd boforo now, aud I believe it would have: beon if that great: powor iu the land, the pross, hnd given tho doctiino enuncinted from tho Troasiwey Departmont from 18G5 to 1809 the heatly indorsoment it hna, givon to similar doge: trines when proclofined by tho President in 1874.. If the finnucial troublo that Uas come upon us, and tho consoquent proatration , of business in noarly all branchos of trado; notwithstanding the plontifuluoss of carroney, shall tond: to corrcet tho public sentiment in regard to the nature and oftices of monay, thoy will nat bo ontirely with- out compensation. It roquired tho sucrifices .of n grent war to uproot Siavery ; per- hiaps it required tho experiences of n great fluan-: cinl dignstor {o teach tho peopls the, danger of discarding tho truo ninuiro of value, and sib- stituting " thorefor - the wncortnin, fluctuating standard of irredoomablo legal-tentlor uotes. 1t will bo lamentablo indoed if, fustend of having profited by oxperienco,—onr financlal troublo, tho result of our financial mistakes,—wa shull causo a otill widor departuro from tho paths of wisdom -and mafoty. lteal , monoy—and tho world always has Liad, and over will liavo, plonty of it for legitimato usos —loaves or avoidy coun- trios that linve an inferior gubstituto for it, no mattor what othor standard may bo ndopted by -law, or low tho fact may bo ate. tempted to bo disguised; for tho valuo or nll"l!;mpmy in still rogulated by it. '"'ho Legol-Teudor ‘nct compels tha people of tho United Blates to treat tho greouback dollar ns if it vero a dollar in fact, but, oxcopt in paymout of dobts, it is not ono.” It hns not the purelins- ing powor of one, Tty valuo hau been di conts 3 it is now 90; & year honeo it may bo 05, or what it may bo no ouo can tell, IT 1§ TUE PAPER DOLLAR, not tho gold dolinr, that fiuctuates, and is, there-, foro, an uncertam and dangorous stundard, Can it thon bo doubted that 1t is tho duty of Cougresy &0 to'legislato a8 to make, nu Boot ns practicn- DLlo, the pnlwr dollar* of which it authorlzes tho 1s81e equal to tho gold ono ? ‘Che quention then ariscs, What logislntion ls’ro- quired to offoct this most desirublo rosult? Our new Heerotary is & gontleman of ubility, nnd ho belongs to a Stale in which good flnancial seed Was sown at an carly dny, o8 has been proved by her high_finaucial credit, and the sounducss of ier banking institutiony. ‘T know not what his views are, but be would not bo n true scion of Kontueky stock if Lo wora ungound upon the finauclol question. If tho managemont of our finuncos woro in Lis bands, I for ono should bo willing to take him uf‘un‘trusl, not doubling that ho wonld pursue the right courso to rolievo the country frowm the burden—for so it is—of an irredoomablo curroucy. Lut auch is not tho fact. Congress fa Lo determino what shall bo our finnucial policy, and this ~dotormiuntion mny dopend on the result of tho appronching olections. As parties now staud, the fluaucial quostion caunot Lo question, norwillit be—as iu the battor part of the lute sossion, it was fenr- ed might bo the caso—a soctional ono. It is n question wpon which therd will bo differences of opinion among men ot tho samo party and..the eame Stato, Chat thoro should bo spoedy legls- Intion, and o DLFINITE POLICY ESTANLIGNED, . . overy ono who is not a gambler 1. business ad- mits and desires. Nothivg but furlber inflation can be worse, than uncertainty upon matier Ko important {0 tho well-being of the country ns the curreuoy, It is for theso reasons that 1 now.foul ntliberty to give my.opinioh upon tha . Yiews frankly, not as presenting the -an issuo-of bank-notes, {inaucial logislation that is required, 1 tato my ouly way, Lut o8 that which sooms o me tho most cortam and divee path for ! REAGHING SPECIE-PAVIENT, ; If & wisor plun shall be-adopted, no one Wil bo more ploased thau mygolf, First—Congicss should X potiod, say tho 18t of December, 1576, tho timels not materinl if it o not romute, after wlich Unitod States notes should congo to bo a legnl touder, Second—T'he Secretary of tha Lroasury should Do authorized to retiro, by tho ussof the surplug rovento (and, if this &hould bo insnfiiciont, by the uale of bonds), atlonst $50,000,000 of United Stales notes per annum, until all Linve boon ro- tired, and he should,bo prohibited from roissuing tho noles thun retired under suy pretoxt or cire oumstancos whatavor, tha Third—1In liow.of tho Uniled States notea ro- tired, an oquul amount ol banl: notes, if thoy shall ba required, should bo issued to Nationnl Banks, . o . Fourlh—When the specie-standard has been ro-establishod by tho repesl of 1ho Legal-Tender acty, bunking should be mado. froe, aud Congress sliould ceaso Lo, interfero with tho curroucy, ox- ceptuo far ss may be necessniy to provent illo- gnl isaues, aud to provide that ovory doilar in circulation by authority.of law shall bo secured beyond contingency, ng is now tho caso, by o do- posit of Unitéd Btates bonds in tho Treasury. It is obvious that s long. ns, United Siatos notes aro a logal tender tho specio slandard will not borestorod. 'heso notes should ho gradual- 1y rotirod, becauso,, until the voluna is reduced, thoy will not permgnontly imprave in valuo, an beeatso, until the banks porcoivo that tho reduce tion is netually taking place, thoy will make no effort to supply thomsclves .with ocoin for tho protection of their own circulation, . It will bo #afo to provide for an issio of notes for supplying the pluco of United, Statos notes as thoy ‘may boretirod, hecause tho bank-notes will not Lo “applied for if the businoss of the country docs uot ,mciuirn thom, and bacruso thoy oughit to bo furnished if it does, It s not likely that corrospondiog to' the States noten withdrawn, will be requirod, as tho yaluo of both kinds of our paper money will be steadily incrensing, and. specle will o taking the place of paper o a ro- #orvo of tho banks, and uitimately s & civeula- tion among the people, This will vo solf-rogu~ lating mattor.. "As {ho United States notes ira rotred, tho banks will fortify. themsolves with coiu, 4o that, when tho titne of coiu-radomption amouut. of Unitod .comey round, they will be preparod to meot tho cally which.mny. bo made upon them, but whioh cannot bo lnrs:e, as tho proparation for this stuto of things will have brought tho buslnoss of tho country into. o hoalthy condition, and thare will bo Littio dowmand for coin for exportation, Nor will thin withdrawal of United: Slates notes, preparatory to s rotumn to BpoCic-pay- wontd, uor the relury itsolf, affect the valuo of property nor disturb, business. Some, intalij gout mon who aro uuxious- 1o stand again upon solid ground, aro apt o sponk of tha " hrink. ago" which must oceut' beforo this can bo brought about, not reflectiug that tho real valuo ot proimrl.y is not nffected by tho standard by which 1t g entimated, Propaily i not depeni- out for its value upan a fletion.” Wa, spenk of tho.prica of gold, of it rise and fall, aud somo of ug scem to think thal we aro richor ns it risos, and pootor us it falls, whil its.roal valuo 18 pormanont, oxcopt 8o fr 08 it is affeoled by the yiold of tho mines, in spite of the Logal~ Yeuder ncts, it is to-duy, and it must continuo to bo, the real mensuring standmd of property., There is no foundatlon, therefore, for the.ap-, prebevsion of u shrinkago in the ,veluo of property, a8 & consequonco. of u yoturn to specio-paymonts, nor is thero nny .more foundation for tho apprehunsion thut such a chiango in our finanoinl - policy-will mako monoy searcar, ond timos hardor, “As. I huvo already eald, suoway, whother it is gold or aper, gous whero it is wanted, b ‘Iho advocatos in Congrons of inflation, or nu increaso of tho currency, wora chiotly from the Wostorn Stutes, Ifow truly thoy refleoted tha Henlimonty of that seotion, I cannot sy, but T s snro that whal Is neoded in the West s not Bouuich moro money, au bottor mouoy, and crentor and cheapor monns of Lransportation of th nroducts to wmarkot, Thoro i uo clues of mou who aroso mucli fn]ured by irredecm- able papor manoy ay the sgioulturnlists, 1t is the farmor especinlly who iy 3 UHEATED 1Y FICTITIOUS MONEY, It is arid, 1 kuow, that Lo Days Lis taxes with it, and for what ho' noods to purehngo ; bat is it not t1uo algo that it incronson Lis taxey, and addy Iargoly to tha cost of what hio biys? Tho cotton, ““‘1“' aud rice of tho Bouth, aud the grain, boaf, and pork of tho Wenr, aro nedded at Lomo and by foroign nations, and Theno neconsaries will nlways conunand money. The poopla who huve them 1o dispoe of must deeide what Iind of onoy it shull bo,—moucy in thoform of brokon pPromisos, or gokl and silvér and convartiblo bank-notoy, T havo boon for o loug time absent from tho conntry, but I aw groatly dooelvod it tho domund of the Wost for more curronoy doos nob ecomo chlofly from thosoe who havo little or nothing to soll, and .who would be, consoquontly, injured tlone—wlithitho excopilon of tho United Staten— I te, but this s not;owing to .sdarcfty of monay, but to n falllng of, In the do- mand,. Consumption at lioma {s less, and;tho | [drolgn domand is swntlor than {8 hina boon, Many. of our mnnufactories nro idlo, nnd Luropenn markots aro disturbed by DUL FINANOIAL THOULLES. It s theno canecs,~thnt ara only tomporary,— -and nob-goarco monny; which - ogcasion the “do-- presston which at prosont oxists. Thore. lins nover beon & timo whon tha producty of- tho! -Weat (I can spenk pdviscdly of thia seetion) have Inlled to briug what thoy wero ronlly worth, no- cording to pricod ng the homo “and-fornign mar- <kats,-for ywant of monoy -to- pay for -thom,-aud thero nover will ho. I knoyw that theso produoly; ‘linve commanded nt-varioun times ‘oxtromely low pricen, hut-this was owing to - the Inck of teans +of transporiation, or of a au pply superior to Lho, domand, Tho fact that nino out of ton of -thoso. who. have hoen ongagod - in buy-) ing and nhlpglul\' the products -of tlio, West to tho senbonrd, whoro prioes nro uenally regulated by tho Luropoan. markoets, have failed in-businous 15 an_evidenco--that thosa produots “have not bieen snorlficad, or sold at homo for loss than thoir valuo, by renson -of .n scarcity of monoy. Thore need, - thon, ho no-apprehionsion - | on tho part of tho farmeraof tho Wost that thoy will be injured, or that tiere would ho asearcity; of mouoy Ly ronson of tho withdrawal of the United Bietes notos, or n roduction of pnpor circulation, . FOR EVENY DOLLAR OF DLTRECIATED curroncy withdyawn, thay would have a dol-! Aur, in” valuo - ot lowst, of convorlibla papoer, - or vof epcclo, - \What da- truo fu rogard _-to farmors, is oqually truo in rogard to munufncturory, morchonts, and Inborors, My owh:daliborato opiuion 18, that wo #hall ngver have really chonp monoy, I8 wo ‘can never have rellnolo “money, -untit tho United Btatod notes aro strippod of thelr falso charac- tory retired from cireulation, and their placo sup-~ plied by specie, and porfectly-secured, - convert *1blo bank notes. Specio then will: congo'to flow out of the conutry ns now it daes, but will com- monceo flowing in 80 soon as wo- drive’ont of cir- culation tho notes which have deprived-it of It monetury charnctor, Tho products of our gold and silver munes now lenvo ug, - beeauso wo boyo no uso for them. Au flie preclous motals are not elrenlating modivms, nor basos for monoy, thoy would ba n burdon {f retainod, In regaid to a substitution of .. .DANIK NOTEY FOI GREENDACRS, Ihavo only to say that thore ought not to Dbe, aud thovo will not long Lo, two kinds of paper monoy. in circulation. Ono kind or 'the other will oecupy tho fold. ThinI think inovitable. Wa ehall got rid of the United, Bintes, notes,. or, thera will bo o frrosistiblo domand far moro of them. T advocato the substitution of Lauk notos for United States notes bacauso the Inttor stand in tho way of n return to specie. ‘Tho Govern- mont lacky tho mouns and muchinery, to_keep fn | cireulation o conveitiblo currency of itw own., o mnintain such n eurranoy, the’, Tronaury De- partment, or n department. to bo , crcated for tho purposo, would necosenrily become a bank of {ssuo, Such a bank would e ns unsuit~ ed to our fustilutions ns it would,bo deficient in tho powar required to givo Hlexibility to fts ls- auies, nud secson Just and equal distcibution of them throughout the country. For such nu ox- Enumom Wwo aronot prepared. As long ns wo nvo a logal-tender paper curroncy wo shall bave an incontrovertiblo currency, I advocato the subatitution of bauk notes for United States notes, ulso, becauso I regard it of execoding importence that'tho subject of the currenoy should bs | WITHDRAWN FRO3 TOLITICS. . Pollticians nro nccossally. ngitstorn, Thoy cannot ba otherwise, 'Thoy meed capital, aud ngitntion is thoir cspital. . That this .capital ‘should not ba mndo by & parpetual in{orforenco with what nffects every maw's intorest, is an ob- vious truth, A Govorzment, currency, thoreforo, 18 not what {a neoded for o. circulating modium. No political party should Do iutruated with tho power of .making, money—or. what s called monoy~—~scarco, or planty, at pleasure. Lot tho United States notes, then,,bo rotired. Lot the (rostraiuts upou. benk circulation bo remoted. Let bauking be fros, and ihe business of banlk- ing bo maunged by those who embark in 1t, - Let tho circulation of bauks, sceured by thg bouds of tho Governmont, ba regulated by thoir uhility to redoem, and by tho requirements of tha cown- tey, and we shall” have that froedom from polit- el in(orforeuce, and that floxibls, yob Ktnblo, beeauso coavertible, cwrroncy, whicl is niecded . 40 STINULATE ENTEIPRISE 3 and seeuro to labor ita brover rowerd, , The loss that tho peoplo would sugtain in thio matter of - futereut by tho withdrawal of tho. United Statos notes would not bo felt. If thisloss should not be mado up by tho tnxes assessed upon tho Danks, and the facililics which they ronder to buginess, it would bo emall Tivcomparison with what would bo gnined by tho withdrawal of tho curreney question froni the arenn of polities. 1 am no advoeato for banks, IF thoy did not exist, Tmight regard the crention of them n question of doubt- ful ‘expedionoy 5 but they aro so interwoven with our fiusncial intereats, that thoy could not bo dentroyed without o finsncial rovolution, ~ And it must bo borno in mind, in considering onr bank- ing syutom, that it iun vory differont one from that it supersoded, innsmucl a8 it gives -to tho people.a eirculntion of uniform yalue and une questionnblo solvancy. It jnundoubtedly the LEST SYSTEM NOW 1t EXISILNCE, & nud it should bo sustained until .n batter.one fs dovised,.or wntil the country is prepared to do without banks altogether. In what 1 have snid in regard to the United States notes, I must not bo understood na ro- flecting upon .tho flndneial Minisver who advo- cated, or the Congross that nuthorized, the issue, In regard to tho wisdom of. this measuro, thero oro now, as thore .wore then, difforences of opinion ; but, adwitting that this was not the wisest measure, tho advocacy of it ouglht not to dozract from the greal MERIT OF MR. CHASE, to whoso administraiion of the Troasury.the. suceogsful torminution of tho war is very largoly to bo attributed. - If Dr. Chase lacked finaucial traiuing -and oxporionce, he possossod what was botter In thoe tryiug circumstances in which he was placod—courage, nerve, faith. Great viee -torios in tho fleld nru but scldom won by & strict adberenco to tho eciontific «rulos of war, -Gront commanders aro scldom found in, distinguishod military engineers, Tho samo ig truo 1n grent financial coutests, and the strugglo for nupremnoy between the Government and the Sourhorn States was as much a struggle of dollms.-ns.of mims, If tho Clovornment .had broken down financially, the rebeliion would not have boou euppressed. ‘hat it did not broalk down was Inrgoly owing to tho qualifications of Mr. -Chutio fur iho position Lo bold, Ho uu- doubtedly inndo mistnlics, but thero is causa for wonder that ho did not make more, .1 do not boliovo thero was another man in tho Union who wonld hiavo mado losa, “Thero I8 anothor subjeet to which I should not lflludol if thoro was not o * plank ™ in tho * plat- form " 'ndol)lad by tho recent Democratio Con- '§'£i°u" a¢ Indiunupolis, in favor of tho puymont of G- LONDS IN GREENDACKS, Although it in known thut party platforms nre usuull‘y mado to be dimegarded and. “ gpit upon, " the oxprestion of such a sontiment by an- intolligont and highly-respootablo body. of nion, cluming to ropredout n great politioal party, whoso rceord \l}‘mll finnncial - quoations Lnn beon most eroditablo, is ealeulntod to ‘mis- Jond wnll—memllug people, if not to damago the national crodit. ''his subject is rapidly losing - it intorest in n peonniary {oot that the 6 per cont 6-204 are boing rapldly convertod into 6 per cents, which, in ordor to pravout any question in rogardto the currenoy in Which thoy nr to be paid, ars, on thoir faco, mdo payablo incofn. 8lill, presented as tho rosolntion bhas boen for tho .consideration of tho voters of Tudinua, it is uot without importance. I feol it to-bo important beeauso it uffects the good namo of my own State, ‘Uliat such a propoaition aliould be rovived by mon cluiming to represont Democracy, indioates a wunt of political 8- gacity on thoir part and an abandonmont by’ olnt of viow, by the them ntrrmmlples to which the Demooratio party in the pulmy days of its groatness and power consclontiosly ndherad, nnd which it ‘must’ again avow and adhoro toif it Ju to be- como tho party of the futuro ns it hns boon of tho pust. If ihis renolution of tho Uonvention truly oxpressos or roflocts tha sontiment of (Lo ‘Domncmcrg of Indiana, it s hoped that tho #pirits of Joffordon, and Juoksou, of Janton, aund Wright, aud-the host of other Domocratio worthivs whose famo I8 tho notion’s pride, do ‘not-withess tho npostasy of thoso who claii to Do lll:mtlr followers, Thd TIIE FIVE-TWENTY BONDS should not and’ eannot -he paid in greonbasks untst'bo-avidont for the followlng ' rensons ¢ First—Thewo bonda uro National obligutions, intended to-bo arculsted wnd hold in Torolgn countiies an woll us in the Unitad Btatos, and 'all such obligations aro always undorstood to bo, poyubls in tho eurronoy which alono jy rocog- nized an monoy, by the common consont of tlia grout fumnlly of natlons, s Second~Lhoy: caunot bo peld in groenbacks, ‘hocauso it conld not bo dono without Inoroasing tho fssuo of legal-tondor notes boyond 400,000, 000, mud n lurgo ‘portlon of thése howls wora fusucd aftor tho fuith of the Governmont had boou pledgod by aot of Uongross that this sbould bo the limit, aud also boewuso Congross by ® wpoclul act, Ju 1841, doolarod tlnt tiona bondy wora payabilo in colir, Zhird—Bocauso' it wau tho exprogs undor- by.a compllance with their domands, ‘Ihoro may ko, ab prosent, dopression in tho prico of standing botwoon tho Ueyernment ' sud tho peo- plo,whien tho boudy wore lgaued, that tho princts pg}, a0 woll s {ho lutorost, nlionld Lo pald in aoin. "I'ho Inhguags or ¢ TIUE INDIANA NESOLUTION, . *!Wo aro in favor of the rodomption of ‘tho 5-20 Dboudu In groenbneks, according to tho lnw undor which um{ wara {asitod," if not positively un- true, in calenlntod to mislond. ~That thiose bonils should bo paid in-greonbacks is nob-in accord- nueo with tho, law under which the iasuo.was -mndo, ho revorso fs tho fact. - It s truo- that tho law doos not oxprosaly stato that thoy nra. payablo ln coin, but it is provided that the inter-- o0at bo 80 pald, .. 1f it a pilont in rogard to tho prinoipal, it is becausono ono ab - that- timo. ro- {mrdu tho United States notos na anything ‘olso *than o temporaty owrronoy, which was to bo ro- doemod or rotlrod by .- ! CONVERSION'INTO TIONDA, si long boforo tho bonds by. their terms..would be . brought.undor tho control of tho Govertintont. Who, in fact, ovor hoard of v nationnl-obligation the-interest on whtoh wag payablo in ono kind of eurroncy, sud thn&lrlnclpn" in.anothor -aud do- -prnolnlmf kind, and what would - b thought-of o beoplo who should take advantago of -tho tochni- cal cotiatruction- of tholr own. Inw, and- compel tho holdorsof .tholr bonda to -take in: payment own dighanored papar, notwithstanding tholgrervantain the Ironsury: Dopartmont, thoir agy whio nollsited mubscriptions, aud tho pub- Ho Brons, with tho full: Kuowledgo' and approval of the Iaw-making powor, had roprosonted tha ‘principal a8 woll a8 tho intorest, of :tho bonds 10 bo payablo in coin?. By evory momber of_tho Houso-and of -tho Souate, who -participated in tho dobate,. whon tho au\:jeu: of tho issuo of +thoso bondd wag undor cousldoratiou, and who in torms alluded to thom, they woro Bpokon of a8 gold bonds, o . - REPUDIATE ALY THESE PROMIEES now, the peopls of the United States would ‘roneh & depth of degradation nud dishonor- to which no natjon hna ' yob descended, ''ho stato- 'mout of tho proposition, -utripped of -all its dis- guisos, i onongh -to-condomn it In the ostimn- ‘tion of all lonorable mon. -It i not, I am Buto, in harniony.with tho_sentimouts of majority of tho Domacrats of Indiana, As a bid for votos, the resolution-of tho Convontion wasa blupder, whieh, in politics, 16 worso* than_n erimo, Mor- ally nnd cconomivally cousidored,: a8 woll an po- Iitically, It it wan, ani-oxprossion of tho intolli- Fone scutimont of its monrbors (which T nppra- icud it it was not), {t might Jnsily bo bo pro- uounced a exito and blunder combmod, y TIHE TARIEF, 1haye enld 5o much upon the cruTency ques- tion 1 havo neither timo nor space to dwell long .upon the {arif. Nor is it neccesary that { should, a4 1t fs o question which is being dis- cunsod by thoso who have given to it much mora attontion than I bave, and who nnderstand it ‘botter,. I favor & rovenuo, not a protectivo, tar- if, Tho presont tarlT hus boon highly produc- Hve of rovouuo, nnd it is thoroforo. contonded that it is, in fact, n'rovenue tarifl ; ‘and that, in- namitich o8 o’largo portion of our rovenucs nro to bo derived :from custows dutios, tho - diffor- onco botweon & terift for pru:o‘lmn and o tarift " for rovenuo must ‘nlways bo more imaginary than roal. Now, while it is truo that sinco 1862 tho importations into tho United States bhavo boon heavy, and the revenues from this roureo havo, contequently,” been lurgo, it does not follow that tho ‘present tariff, in the proper Meaning of the torm, is a rovenuo tarifr, 1t wag mtoudod and framed to protect cortain interests in tho Usited Yiates, andit has dono, " und iy wtill doing, this L % DREVENTING FAIR COMPETITION | Lbetweon homo and forcign manufacturers, thoro- by incrensing to consumers . the cost of many articles of common and Indigpenenblo use. It is .truo also “that this, to somo extent, must bo tho effect of niiy systom of raising revenuo by ecus- toms duties; and froo irado, fieulrnbln o8 it may bo, I8 not likely to be adopted, na. long as largs, rovenucs ote needed for the pnymont of tho publio debt, and for dofiaying the oxporsos of tho Goveruent, INDIRECT TAXATION, & eepecinlly, taxes upon Imports, 18 undoubtedly tie most expeneive and demoralizing, if not tho most unoqual, mode of raising rovenue that has over boen resorted to; and yet it is tho most -popular, becauso it s not jnquisitorial, and docs not introduce the mx-finthemr to tho ‘consumer,’ and it is felt only in the enhanced pricos of the avticley which aro subject Lo it.—tho cause of such cubanced prices is nob often cousidered. ho policy of raising rovonuos by taxea upon imfports i8 nof, howover, to ba abandoned ;.nnd it will nnt be_ possiblo, fiamo laws which will yiold such roventies as will Vo required from {lis sourco without Lome-tduttry liberal protection. Now, whnt I think ths pooplo should earnostly and porsistently coniend for is A TARIFS IN WIICH BEVENUE SHOULD BE THE OnJELT, X and not tho incident ; that a commission, falrly represeoting the different sections of the conu~ try, bo appointed by Congress 10 proparc a bill, the nim of which should bo to raiso the nocessa. ry rovonues from tho smullest number of arti- cles, divearding the policy of Drotection, and which should” bo 80 clear in its provisions and’ langunge that common peonlo could undorstzud it. “I suggoet that such & bill should oo propared by o commission, beeanse it seoms to mo to be' thio only means by whichk nn intelligible, symmeot- rical,, and couslytent bLill can bo secured. As long s tarift bil'aare propared by committeos thiat do " not commnud . the contidouce of tho Ilongs in o suflciont degroo to insuro thowr pnsengo throngh that body without im- portant alteration, and such bills™ aro subject to utill furthor alteration by the Sonste, and re- ceive their flunl touchos from comtnitteos of conferenco, amid tho Laste and confusion dig- tinguishing tho closing hours of tho sesgion, wo ehull have . INCONSISTENT PATCHIWORE, dfllenlt to understand, and fruittulof frand and Jitigation, iustond of symuetrical, ‘consistout, and intelligible laws, It is trae that tho work of 6 commussion would ba uub;ant to tho snme ordeal ns would tho reports of the ‘Ways and Meuns and Financo Comumittecs, but as,the com- mizglon would be selected for tho siugle purpose, of preparing a Larifl, it would bo moro likoly to Inirly rc}n'ounnl tho difforent scctions of tha country than a comuiltteo, It would havo roro timo Tor tho proparationof a bill than n com- mittoo, nnd if composed, 08 it ought to bo, of ablo and upright mon,—not }mrtmnnu, nor tho msn'uxsumnuveu of anypartioular intorests,—I Dbolieve such o commission would proparo o bill that could bo carried through both Houses twith- out chango, . 3 It caunot bo dovied, I spprotiend, that by the' prosent tarif both tho revenno and TUE FEOPLE ARE BADLY CHEATED; thigt it is 1 rogard to somo articlos probibitory ; thut it increnses tho cost of muuy things, with- out yielding revonuo enough therefrom to cover tho exponsc of collection, momh;?roflfing home munutacturers to the amount of that incrensed cost, without beneiting tho uovnmmnnt,—mnt, of its_heavy duties upon somo kinds ‘of Taw materinls 1t bas rendered uvprofitablo, and gradually deatroyod industries, that Lioforo the WAL woro prosperous sud prolitable ; and finally, thut It is dulloult of interprotation, aid on some points inconsistont, thua openng the door to, 1f' not inviting, fraud on the part of importers, and giving opportinity for oppreesive und dishonest practices to the oliicéry of the customs, Whother tho protectivo pnunlnle bo yotained or not, thoro g 1o doubt that the progent tarifr should bo subjected to n thorough rovision, and I Loliovo this will only bo dona i tho mauter in Whieh it ought to be ‘done, through tho ugonoy ‘of o commission, THE TOLIOY OF IROTECTION should, In my judgment, be abendoned, boeango it favors, by ditect legisintion, particutar inter~ ooty : beeauso it induces tho manufactiror to rely upon the Governwent iu a contest with for- eign competitors, instend of cultivating alall, cconomy, sud & eplrit of solt-relinnco, which ard s0 imporiant for success in oll branones of bk~ ness ; ecaudo, a8 wo cannot eoll liborally unloss wo buy hiberally, it diminishes tho domand- for our agricultural and othor products, nud, oo~ soquontly, leesons the prico of thom; beenuso it 18 inconaistent with the spirit of: tho ago, which domands that all wunccessary obstacles, in the wny of the freost exelinngo of “producty botween natioun, sbould ho removed; and, flonlly, be~ caugo ity end, If not its alm, is Lo onrich tho few b tho axponse of tho muny, Inits cusontinl ehnruoter, A PIOTECTIVE TARIFE 1§ DARDARISN, Buch & taritf may bo dofonded forn time, like an irrodeomablo” eurroncy, on tho ground -of nocossity, but not ns ‘a permanont untional policy, fnm not_prepared to sy thut thora Linve Lnuu perlods in tho listory of aur mwannfactures when protection was necossiary, in ordeir that ine ducomonts might bo offorad to capitalinty to ongage in thom, aud that labor might ho prop- orly educated ; but wuch porlods have passed by, Our munutucturing intorests, long fostored by the Covernmont, no longor need protostion againat forelgn capital oud skill, “1f thoy wora not uble, in tholr infanoy, to stund aiono, thoy aro ablo now; but_evon this thoy wilf not bo requited to do, an ;huly will hnve ‘the udvantsge over tholr forolgn rivaly which duties for ‘ravonus and the -cost of transportution afford, ‘'hat this will bo suf- fleiont not only to contlinebmsiness, it econom- feally conduoted, but to wakoe handsomno pmfl{u, thero can bo little doubt, If thoro ho any kind of munufacturing In"tho United Btates that cannot live with suoh “advaninges as n judi- clous revonue tarift and tho costs of tranuporta- tion from distunt countries givo, it is very clear that 1t Is untitted to the country or tho hubits of tho "wl;,]“‘ and that it ought not to bo encoul numl. hiayo 60 high au opinion of tho fuculty i “for dnvantion and-‘npt -aven if it wera desirablo, to | piving | ‘reign, wo havo the ohiluory of my couutrymon thora {s no branch of malufaoturos suited to tha connlry ‘that hns prospored nndor oxisting Itwa, whicl would not continuo to prosper ovouf undor o aystom of abrolute freotrado. . It ia Yory cortaln that, undern wiso tarill, many now industios would como into oxistenco, and athern whicli-havo died out, or aro Innguishing undor oxisting laws, 7 * WOULD IIE NESTORED TO LIFE end quickouod Into prospeiily, Ihoyetimeto montion bub ono Instauce, ~Iron ntonmsbipas can ovon now bo built about as choaply in the United States ns they can:bo fn-Europoe.. With o roduction of dutics uvon the matorinls which aro ueed In their. construction, thoy could be bullt chonpor. Bo that tho grent shij yards for lding, iron - shipy,.moat . only, for tEo Unitod Btutos, but for othor natlons, would bo found, at no distaut day, on tho Delaware instond of on tho Olydo. The great BTATE: OP FENNAYLVANIA, an Empiro of itsolf, olings to Protcotion ns it har prosperity depended upon. it5 but.plio will nover know how groat hor resources nnd power are,-nor what har people are_capabla of acsoni- plishing, unttl sho ceasos to look to tho Governe ment to-protoct:hor interests, -and lonm to roly upon hersolf, 'Ihore 14 no more renson why sha aliould nsk the Govornment to protogt hor fron maonufacturcs against foreign compotitors than against the compotition of hlissourl, Virginia, or Tonnesnoo. (‘) ‘ho ptea that: 2 .o AMERICAN LADOR . must bo .proteated . ngainet - what. ia- ealled thio | ** pauper labor"” of Europo 18, 1f I may uso tho oxpresgion, *played outs”’ - Paupor labor in the fnctorles and furnaces of, Europs {8 n ,myth. Skitlod Inbor.is in. groat demand, sud is as costly, ostimating lho difforonco in_tho exponse of liy- inm on the osher sido of. tho: Atlantio ns on this, 11 1t woro not, so, tho differauco would bo morg thnn equalized by our superior machinery and our. superior clovorness in the .useof It. Wa bayo, in the United States, tho boat cotton-milla in tho world, with all tho ensxml that {4 nooded | to run thom, and we-nro prot than can bo grown cleowhere. Is it possiblo thint the cotton-sninnors:of - New Ingland neod Erotccunn agatnst tho cotton-spinnors of Great titain ? : tian. s WETAVEIRON, | vy won o | “Htorally cronping out of- tho earth,—motntafns of it, iu fact,—of, tha, bost quullt{. and coal for smelting aud -manufacturing 1t, In its immo- diato neignborhood, In Great Britaln iron is only found hundreds, it nov thousands, of foot Delow the surface, & largo.partion: of which-hag *to bo transportoa at gront oxpoose to tho coal. districts, to bo manufaolured, sud, at still groat.. er oxpouse, whon maunfacturod, to the markots of tho United Stntos. " Do the fron-mnkers of Tenucssee, bo protected against compotition from England ? COAL. , the producer of tho 'gran? motive power of tho. world,—coal, which is found in- fuoxbnustible . supply throughout thia country,~rwhich is indis- Ecnsnbla‘m manufacturiog, nud, in tho older tutos, 18 used by almost overy family for fuol, —ahould coal bo incronsed in Wblch pravents the Introduction of it from the ucing bottor cotton | Missiouri, and Pennsylvanin need to' prico by o tarift: Dominion of Canada ? f Isit right that ovory family in the United! States should pay on . EXTIA’ PIICE FOR THE BALT it ugon for tho boenodit of the fow who are mant- factuting it, and who can make it ag ehun'ply 08 it can bo mado in any other co\lutr{? “Theso questions—ond tho ‘number can’ bo larg oly in- crensod—are not now, but thoy loso nono of their interost becauso thoy have been froquently askod. ‘The present is n good timo for t| ple to ponder thom, 0 poo-, No Protection lawa wero; oyer 80 ably defendod astho Corn.laws of Ln-; gland. Nointerest over scemed to demand pro- tection moro than tho agricultural interests of: that country, a8 {igurea and arguments could prove anything, at FREE TRADE IN CORN It wos thought. proved; s cloatly’ would bo s doath blow to the owners of fnided’ Propnri.y. What! abolish the sliding-sealo” of import dutios, and opon tha English poris to tho chonp giain of the Continent and of tho United States? The very suggoation of such’ a propo- sition by - English ‘Reformors wns rogardod by, Inud-owners as ovidence that tha world was m ing in tho wrong direction, and: that cracke bruined heorists were niming to control it.. . +,, Now, what haa been the ofTect of tho repoal of tho English Corn laws? Liow Ryices for lands ?, Noglec) in tho cultivation? Prostration of ag- ricuttulfal interosta? Mo roverso aro the facts, Land, instond of declining, advanced 1 valuo. "Lho cultivation of jt viau at onco improved, and. tho intorest) which it was said was to. b Pros- trated by Yrec 'Trado in breadstufls, speodily became vastly mioro prosperous thian ever, The Englieh land-owner who should now adveento tho re-chactment of tho Corn. laws would bo considereda It subjoot to Lo handed over to tho surgeon to bo oporsted upon for tho ”uimlllcm" ‘Lhe enmo will bo tiue m'fiv“d to the Protection Inws now in forco in the United Btatea. It will, at no distant day, be as DIFFICULT TQ IFIND A PROTECTIONIAT in this conntry ag it now is fo flud a lapd-owner ia Englaud wlio would acknowledgo toat ho ever favored tho Corn lavig, Who United States, ‘With their rich _sof) abounding reaousces, and intolligont peopls; will' Prasper, no master what- laws may be upon their statute-books. But .they will never mako the, adyanco which they are capablo of making in' waalth, in moials, and in civilization, until they hayo a sound currency, nod mora oxtended, Lo- cnuso freer, trado with foreign nations, I have the honor to be, geitloman,. your obe- dient sorvans, . Huou: McCurrooi, To, Messrs, L, B, IIARn1s0N, Epwann BARaeNT, O, TresuLiy, Jous A, Gano, Jous 1, Osvouyt, and othicrs, Ciuciunati, Tho Title foverend,» The rogistois of tho parish_of Tamwortl con- taln somo Intorcsting (}mrficulam a8 to local usago. - Thesb registers dato back from tha relgn -of Uhilip and Mary, 1556, in them to n .clorgyman is _with which Shakspearo hns Tho- {lrst titlo givon the old titla, Bir," ,mado us -familiar. In May, 1567, we lLava oo ontry *Sir Petor Btringnr, curato.” + The cl«rgf'rm\n wlio succoodod him s onlled “Sir llichard Walk- ‘or,” but thoro are other -.contemporancons ontrics, suoh a4, " sncordos,” plerious," * proachor, and ** yor%i ministor,” Theso Inttor scom o have obtained 'til, in King James' rofix- « mastor,” which, as wo know, way applied to the gront diviue, Mag- tor Ilookor, and this praotico sgoms by owr T0g- istoru to invo been continued througl the' Com- monwoalth, though * Minister of the Gospel is sometimes added. Wo havo, howevor, in 1657, tho first ueo of tho word * Revorond,” ovidently fu this caso ‘o special mark of respeot, not ns o ‘format - title. On “11- June, 1657, we buried our Reverend Pastor Mastor Thomau Blake, ministor of Tamworth, In 1083 wo huve a clorgyman by- name - Samuol Collins, T hnd noticed with curiosity an orasure beforo: his nama in onch- of the casunltics, bnx- tismal or funcral, recorded in' our rogistor. t last, in 1701, 1 was lucky enough to find an wn- orased outry, and it appenra thos thoe obnoxious word was the titlo “ Revd.” (so writton) prefixed toliy Mr, lIlowover, ho Heems not to have boon ablo to hold to this title. One of his children, baptized in 1700, is baptized g tho child of plain Bamuel Colling, min- Ister, aud whon bo died, in 1700, ho wns buried without tho titlo * Rovoroned"—ns Alr:- (L on Mnater) Samitol Collins, Ministor of Tamivorth, Honcoforward' the samo addross i usod till Novembor, 1727, whon wo_have the baptism of Anng, ‘daugnter of ‘' yo Rav, Mr. Robert Wil- #ou, Minister of Tamworth,” and aflor that dato the profix'* Reverond" nevor. sooms {o, havo Loon omitted. I am thanlcful, for the hotor of my parishy to say that it wos not withheld oven in’ a cuso whish reniinds ona of tho matter discussed ai tho- Comborne Conforenco, It -garrivon of ubont 500 mon, foll to tho lot of guo of my predecessory to bury. a Noncorformlst, -T'ho ontry of the burial ls ng follows: 1730-37 :—* 10 - Maroh, buriod yo Rav. Thomas Worthington, n nonjurer of ‘Tnmivorth,” In this ho only followod the-oxamplo of an ear- lior Viear, who, whon “Thomas Flavell, Prosby- torinn toncher of Camyworth,” died, allowed: himn tho profix of Mr., (Mastor)—n profix usod with great parsimony in thoso days,— Thc fev, Brooka Lambeit, in the London Times. Pl e e Urgol and Amdorre. Boo do Urgol, whora the Oarlista rocontly nchioved nsuccess by tho capture of ita outire s n eomparativoly unimportant, littlo town in " Catalonin lying in'n ,)Imn among the Pyrohoos Monsoignour Joso Talxal, the Bishop of Urgel, by tho .connivanco of somo of whoso frionda within tho town the eupturé was offooted, ling loag hoon attachod to tho stall of Don Onrlos, and {8 an ndroit bigot whotn tho Popo long ago commissionad to bo hoad of tha churoh whon DonCarlos should ostablish Lis Xingd In bis capacity of Bishop of Urgel ho i alko ** 'rinco of tho otrions listlo Htato of Andorres, in tho Pyronoos, which {s. genorally astylod Nopublia, but posresves an_ suomnloyy kind of | governmeont, whioh 1 1848 way partly under tho joint control of tho Klni; of Franco and this Bpauish Bishop, but sineo that tine ling beon ruted by swo dozon’ consuls chiosed by tho populnr vote, Inillustration of tho unroauoning religious onthusinum of Mousiolgneur ‘Paixal, Azt Datok, in his *Bpain and tho Hpaniards,” tollu n story of tho Disop's assuring tho cor- respondont of tho Loudon Zimes in {ho Carlisg camp lugt year, *that Quoon Vietoria had long n¥o paased ovor to Rowan Oatholicism, but wag afraid of makiug it known to hor pooplo." Gillars of the Lykiching of Négroes in Gibson County, _— Tho Apprehended Nogro Attack Upon Tron- tonflqo Thousand Armed Whites Gitlioréd i Tt Ton, P Proclamatlon by tho Governor, Offoring. Rowards for.iho Apprelionsion of {iie’ Lynchers, Tyeniton, Tenn, (ug. 26, “Dispateh to the' Memphts Cou v Avalanche, = Yontordny morniug.City-Marshal Dungan and Constablea W, W. Sontor and Bponco Eldridge, With an oscort of forty,men, woll armed, brought slxtoon nogroog from Plokottavillo, aud'lodged thom fn the, jail at this placo for mafe. Kooping, "Theywore put.in tho ol jail, tho now' ono in caurso of construction. boing full of.prigpnors. T'he nogroes aro tho ones who liad & preliminary oxamination bofors Justicos Jordan, Xly, and Hunt, ot Plckettsvillo, yostorday aftornopn, ..+ WHO, THE NEGROES WERE., | Thoy srore & portion of ‘tho party which fired on Monros Morgan and James Warron,, two young white mon, Ingt Baturday nilght, ns thiay woro go- ing to thoir homoes, and yhen about § milos;from Pickottaville, At 'tho proliminary cxamination twoof thenegroes confassed to tho fact, thatngon- oral uprisiug of tho'nogroos, for the purposo of Xilling all tho whitos, was intonded, The namoy of . tho nogroos »who wora Lrought horo and lodgod fn juil, sro: Nolson MoGhoo, Bon Dal- Inrd, - Jarrott - Burrow, Goorge. Greone, . Stovo I; an “Walllams, Bob. Love, Dick Shaw, v s0p, Iays Pdoblos, Alfrod Williams, Nick Ivoy, and four otbors, names nt prosont un- Lkuown to yaur, cotroapondent, et e THEMASKED MEN.. . g . This morning, ogweon 1 aud 8 o'lacli, about 100 disguiged men, armed yith double-barreled .shot-guus, rifles, and revolvers, rodequicely into town nnd sitrrodndod” tho jnil in- which: the negroes montiongd .wera corifined. . Tho_Bhori and Jailer, both of whom wern on duty, woro eallod out aud tho koya' of the prisonars’ colls demanded, this domand tho officers rofused tq accode, Inrod thoirintontion of holding the nogroos subjoct to the action of the law, */'cosm Fon TiosE N1GGERS.” Tho lenders of the masked mon loveled their wonpons ot the oflicers, and said in omphatio -tones, “We linvo come forthoso niggers, and Intend getting them; turn oyer tho koys, or wo -will blow your-braing out.” As thoir-very action looked like busiuess, thero was no more hosita- tiou beyond a formal prosest, and tho koya wors turned ovor, TREPATING FOR THE BLAUGHTER. Going to tho cells, thq maskod mon unlocked tho .doors, and with pregonted and cocked wea- pons ordored, tho . negrocs out. Cho ordorwas tromblingly. complied with, and tha poor fright- aned. black’ wrotches marched into, tho corridor. Thero thoy wore tiéd togothor with slrong plecos of ropo in Lwos, v, THE MANOH TO,DRATIL, ‘Tho disgiised men:marchiod tha' nogroes: into | tho stroct. Thoy wero placod in tho contro of on irregular hollow square, and the lino of -mmarch waus takou up; -lending- out on what i | known a6 tho Iluntingdon road. T'ho atrictost silonco as preacrvod, - and,-until- the maskors wero well out of Tronton at_lenst, they pra- served their incognito in'such o manuer os to | defy dotoction, - ‘' NUN, DOYA, RUXL. .. .. *After going about half o mile, tho mob Ialtod, and six'of* tho nogrocs, threo couplos, wora or- .dored out of tho ranks, ‘Uhey wors cut looso ot ono - eido of the road, and told to 80, and go quick, Tho negroos started .in arun, whon a -volloy from along tho whole line cut them down, all f&lllu,f at tho first.firo. - The mob must have supposed that all were killed, an thoy moved on | -without stopping. to inspect tho coudition of their victims.© When found Iater thiy morning -by-n delogation-of citizens, four .waro, wounded, | ‘ono ‘supposod to bo mortally, the othera but slightly, - i < RILLISGTEN ATA mIME. . ., L From this scono of carnago the masked men nud theizr remuining vietuns marchod .on . nliout .2 milos further up tho rivor bottom road, whero auothor hntt was mado. Thon the romafuing'ton, negroes woro orderod ohit. -Like their brothron who hiad gone bofora, thoy were, eut looso and told to move thomselyes. The poor frightoned wrotchos tried to, but oro theycould make -their 8ocond jump towardy life and liverty they wero shot down, —This timo tho maskers took battor aim for’ they nroEpcv.l‘evnry one of tho fleclng negroes dead [u their tracks, YOUDTEEN -KILLED—TWO WOUSDED... . . | "That ended the caruiyal of blood for the night. Fourtcan nogroes killed outright and two others, wounded, one perhaps mortally. .. Aftay disposing of tho lust of thelr dofenseless victims, the mur.. doring..maskors disporsed, disappearing in the darlc shadows of the nnjacont: forests like Bpivity of the dasmned who had been callod forth to a festival of doatl, aud from which. they wore ro- luctrntly forced by tha gray light of dawn. +_ LOOKING AFTER THE MASKLRS, : The. Cirquit. Court isin-sossion at. this placo, and when it convened this morning spoeches wero, mado by the soveral membors of the Bar denoune- ing tho getion of tho masked mon, who wero all from the country; in the most. emphatic * torins, +T'ho :Bar urged upon the presiding Judgoe to at: -once eond 1n 4 spocial charge to the Grand Jury: «dirocting that' body to- soud: for.witnossos all slong tho roud from hero to- Pitckottsvillo, - and to learn if-poauible the namos of tho maskers, so that thoy might be indicted and punishod., N FALSE AUADM.- -, At this juncture a courler nding ab full. spoed ontored the town and announced: :that tho +nogros wero infull forco- and - well armed out about 4 miles from town, near what is known as tho Gleason place. - T'hin roport of course causod tho most iutonso excitement, and:tho conrt, with tha oxaeption of the -criminal docket, was.nt ouco adjourncd. Scouts weto at_onco’ sent out -in’ all dirootions to #cour ihoe country. .\When thoy roturned thoy roported il quiet, althongh it iy genorally understood hare thut tho. nogroes of this conuty aro well organized aud armed aud ready for action at o moment's notice, . ... MEN FROX UNIONoOIY, ‘Two compahics of whites from Union City and intermeodinto points wrrived ‘hore 2t 1 o'clook to-dny, . Thoy are all woll. armod and rondy for auy omorgouoy. Lverything 1s quiot hore now. Treuton, Tenn, (g, 20), Diswiteh io the Memphis Appeal. - s The following i wmy intorviow with Mnjor oon : S e .“ o roporl ropched hera this morning that from 800 ta 600 negroes wore SIARCUING ON TIIK TOWN OF TRENTON, Wo conld not hoar, on scouting the country, of more than fourteon noegroes, o portion armed. Information also reached horo by & whito ,m: that Lio had socn 100 hogroos, a portion armed, who wore clesning up ovorything, Mrs. Glon< 6on, living noar town, saw Sovoral nogroos, who Went.to hor houso and fuquirod for'hor Lusband, I think thoro is no dnangor to-night or to- morrow night; after - that- I foar thore will be » demoustration by tho unogroes, I notlco that thoy stand aroung’ groups of whito men, try- ing to nacortain what thoy ore talking about. This has boen f;olng ousovaraldays. The nogroes rogarded as reliablo hnvo-been. zufuug about this uasure, aud have talon more intercst than thoy over did baforo.: Owing to frequent nud alarm- Ing roports roaching horo, 1 convencd tho Gity Board to dovise.mensures for protection against uny attack by negroos, . Wo concludod it ndvisns Llo to enll tho citizens togathor,-and publishod a curd for thom to maot at vight at tho Court- Houso, ‘Thave no doubt:but that tho nogroes aro organized ovor tho entire county, aud thora are . JUBT FEARS OF VIOLUNCE 1Y THER At any time, - Awmong tho reports heard was ono that the nograes had killod two woman aud sov- oral childron nonr Piokottsville, Al during tho oy’ companies of armod ‘mon came in from Luton, Unjon Oity, Xonton, Rutherford, Dyor Station, 1dlowild, and two comlunlau from Skuil Bono, making In allabont 1,000 mon. Offors of mon wero mado by Holly Springs, Jackson, Iumboldt, Nrownaville, - and olher places, but not accopted, u.wo doomed our forca suficiont, Wo do not neod more mon st proseut. < Durlng tho dny a Inrgo number of fomilios locked hora for protootion. . . We appreliond no foars, as wo did lhiu morning, of an altuck by the negroey, who would bo successtully ropulsed,” 3 Po-duy tho nogroos in town wora disnrined, much against thowr will; ono rovisting -came -vory nonr boiug shat, Whls aftornoon spooolicy wore mado by L, M. Joues, .Job Caldwell, J, H, Cooper, and It W, Powoll, - Ab'nmooting of tha cltisons, convenod‘in noordsuca with a call of Mayor Coou, addressos of wolcome to tho mon from ottier plnces woro mado; also umruanmfi tho nogroes, tallug thom who wore frionds, an how to live Iinrmoniously with the whites, Tho objdct of tho meellng was to = oprocato rofoning negroos and tholy night, ‘This act {g murdor by moskod mon lnst DEPLORED DY THE PEOPLE in the cmmh-ly and nouncing ‘thf 8 outrage and Iynehi-law wora ndoplod by the ucmiing iho town. TRasolutions de- siich by tho meoting, Publie sontimont Ig etrong “againgt tho *nots of tho mnaked.mon, . To.p citizony waa held in woro mado by Atty.-Gon, 8kif; o, whio, advisod mpanyfor ko\t-dotenne, ad such s, Clial of o milltary'c WAH NOCCHYATY. ind I'hie modfing was | tion, Excitomont slding, Throo hun which is under gua ecoured by wiuadd of clogo all houses at 10 o'elack, wora.undor command of Dlaj, Bhoriff, who Is scor hight n largo. mooting of the _fim Court-Houua, Afidrh’ism ngton and G, A. tho organfzation del tng clroumstanoos. onthusiastic’ ad o ‘company ,of ovor 100 ton aro belng antoflod for Grgaiizas slill oxiua, drod armod rd} and tho though [t Is aub- mon axe {n town, country iy being hotsomen, with orders to Tho mon to-dny . Gay, Doputye uring tho country, To-night thero mro no now dovelopments, but” soyoral shiols word Liedrd 1 a'uduthorn diroetion, | Humbotae, Tenti, (4 . ), Dispateh to the Memphty el The ctvil authotitics iro dotormined to forral out tho vun;nlmtnra and o Court, Spéx nuish thom. Circuit nl-Tiidga allinforvo prosiding, was in sosalon yonm:dniyx. ; o ‘When tho oxeiting roports rencod 'frenton the’ court ndjonruoed, ‘but mot to-day, Judgo thiamorning io the massnoro of the negroes, demin, and Io for ding the Iristructod witnesues. meana to -discove tlioir punishmont, the Lnne,-nml in necords indarso., i > The Grand Inry. veatigatin T'ronton had no whatovor in Iynchi bost citizeus, both baliove tho |, . This - bellef. s doi confeasiona of the their abaenco. tured. i on foot. Tiia-me about forty .mon, to loarn what othe aitomptod. riot, woro armed, werd ville, - oL, It'is roported th negioes are thono foar of life, from laylossneds, A-di tonanco of .the poa orgunization . of tendeitng . them hood last night; = sination by them, thoro. cutled for, neighborhood of whoro be seen, . the infamous part od., tho .faur: negroes Whesday night.. We hayo with tothe full e i presscs the public IROCLAMATION BY Joln'C, Brown, ‘ently hour-on-the murdered four of till at large: .:Now; therofore, as aforesaid, by paid upon final ¢o and have causiod ¢! bo 1874, Cuantss N, Gruns, COLORED Lenm, ; Brzs : Your comi manifested in your similar notion by impart und unceasing 'and to dotcol and puuls woll ‘a4 all others hiaye done, Although I.can ovoning, I am desi: power,_to you a8 T un counsels may be words and nets, ki and pacific couns ‘lio lato hour at A Now Yestorday morn fortablo bathing-i Indy bathors nt tho bluo flannol, and, drawory and belted overa pair of stout condemnation forro was comprohenisive in il ccaslon, which tho aeen. at home Tuesday, now.to work, but give no Batlafactory account of + From caroful ‘inquiry I know o Frmurpl organization for sty nimong thoe.negrocs, No- immaodiate fearod from anco of g0 'many.’ armed paralyzed. any . plan - tho dead bodles.of. ten lio, could not find prosumption is that tlio joil oscapod by fliglit, Kiux took thom aiway to oxtort confassion go na Slioriff Aloxander from Gor roward for cach murdorer, commanding the main- Inw, and offering aid if necessary, wis éont 10" the Govornor informing:him of“the tion of " tlio ecitizens;” mon frum:- Madison'.. Conuty - to buyo visited Piclkottt tenso oxasporation exist amou will mako a general Bweop of ¢! event of another outvrenk or attempted’ agsng- sought protection, torrified, foating instant doath and murder, Tho negroes suddenly disappoared, aid could no- o, THE HUMDOLDT-30 ©of to-morrow willdepreeats th disguised men, 1ts editorinl says: timont iu this commanity is highly indignaue at nud - removed the othor ton,. of ‘w s sinco beon hoard, and seid juil-broskers arg uffordd-a usoful hing to othors, woro tho suit sald the socks . protocted tho fect bettor than bathing shoes, uml IRt more gomfortablo in Talliaforxo gave & spoclal charga Grand Jury to investigato tho which ho charactorized GRAVE' OrrENgEz AND BEVENR WHONG, - just . punlshment of of - lat [ the - people. tho® Grond ‘Jury - to eond and - ugo. all possiblo ! the perpotratorn:and eauso he charge of Judge Tallin~ nathiro, foarloss, auco with tho.domanda of tho good peoploe of Gibson will havo alrondy : dommoncod fa-' masencre, - having * oxamined 0 Shorlit \iijnas, Jatior Atstac 1 ¢, 118 but 31t £or mo. {0 say that e wooiae Imowlod ths peoplo of took no part Thoy thinle go “nud ng tho nogroes. 1t was unjnet,iand ny the perpotrate ba.hold accountablo for such ln;qeun&r:. e in Trenton NEGROES. WERE ORGANIZED TO MURDER WhiTES, ubtlesn. truo, na it'in substane Hatod by: countloss - circumstances - besidos tho negrocs; nons ol whom worn and . who hava roturncd murderiug whites ox- but was ot fully ma- faturo - demonstration thom;' 58 tho appoar- whito' mon has may havo had orning - Justico Caldwoll, . with went to tho plnce whero the negroen wore snid to be, but a tinglo doad nogro, and the tho ton negroes takon from Otliers thinls the Ku- T llogroes were ongaged in tho Tho' report yestorday. thnt 500 nogroes were marching on Trenton was radi- cally false. ~ Only sevon mogracs, five ‘of whom ot havo boow seon, nnd those nro thought to bave fled far:safoty and. throngh the neighborhood of Pickotts. at tho mon who ;:nurdércd tho whe acted a4 FEDERAL GUERRILLAS during tho War,-aud have always boon noted for ispateh . was rocaived to-day by - Brown, offcring 2500 co and tho ouforcoment of: the A dispatch & company for tho protec. asking for *arms;” and his order, . About 207 are . reported itlo and its ‘noighbora Genera™ indigoation ~aud o~ tho whites; who 0 negroes in tho to -Great: oxcltement - pravailed ‘The porty that' loft - Humboldt - ling ro- turned, satistied that thoir mission was all nn- Yesterday ovening n family in tho - Dickettsvillo' loft. homo, and ‘I'ha whola white populaco ia L iy otibn of tha “ Pablicson- played. by..the >mob “of - dig~ guised men’who took from the jail and murdere no words ndechuuta to express our indignation, +They aro murdorors intho full woightand uifinm- cancoe of tho -word, and deserva Lo. ba calt xtont of ‘tha’law.” The odi. :is frank'{aud: fearless; - and nlao~gays: I'here is no oxcuso.for the deed, which is with- out pallintion. and merits tho condign panish- ment of tholaw.' It"id foul and ‘admits of no extenuation.” - Mo Journal fully aud feirly ox- feeling on tho subject, THE GOVERNOR OF TENNERSEE, Goternor of the State af Tennssec— Toall who shall ses theso presents, aresting = Whereas, information has, rcachod.mo that o body of armed.mon, forcibly entored the jail'of Gibson'Connty at an whoso nnmes ar0 unknown, orormng.of Aug. 26, 1874, and . foreibly and unlawgully took from thonco sixtoen Prisouors committed and thoro awaiting trial, under due process of law, ial, oud; foully and brutaliy morially” maimed two, of ‘whora. nothing them, I,; John G, Brown, Govornor virtuo of tho powor aud nu- thorlty.id:nio veated, do'horeby offer & raward of $600 for tho'detection and approhension of any oue aud cach of:said parties, the rewsrd to ba nviotion: . In toatimony, whoroof; I horeunto ect my hond, ho Great Sonlof tho Stato to aflixed, nt Nushville, thia 2th day of Auguat, Joux 0. Browy, Govornor, Socrotary of Stafe, | LETTER TROM aOV. BROWN TO A MEETING OF AUEN AT NABHVILLE. EXECUTIVE OFFIOE, NABHYVILLE, Tonn,,Aug, 47, 1874, Mesars, A, Mencresand Otiers, C Comanittet, Nushoille, munication of this dato was handed to mo o fow.minutes siuce, advising mo of a proposed moeting at Liborty Hall this evon- ing to consider allogatt acta of racent violenco in tho Btate, with n viow to contributo yaur influ- once to provent their recurrence. ‘I'ifs laudablo putpose, followed up in tho samo paciflc * spirit lottor, cannot fail’ to induco ‘citizons .of both colors, aud contribute to s speedy rostofation of good’ fecling among all clusses, without which no com- munity can be prosperous or hiappy. I nced not - nustre you of iny. earnost desiva to hiavo the laws I;l;”)' ond’ certainly oxecuted, I will ox- baust overy-logal romedy to protoct ovory citizen of tho 8tato in'the enjoymant of “overy clyil and political -right, witlout regard torace or color, vigilant “effort shall bo mado h, with the utmost rigor of tho law, the offonders to whom you rofer, as ‘I’hn outrago eocloty as thoy not attond your mooting this rous, by all'means within my romato the purposes expressod by oretand your letter, I tako tha lib- oty to counsol pradonco and moderation iu your doliborntions, 1o tho ond that the unnatural ox~ oltement fomonted by. imprudent sud unwise nlliyod, and, storad all ovor the Ktato, good feoliug re« . Violouce, both in ndles sirifo, white kind words ols bogot a spirit of forbenr- anoo and frioudship, whiok your lotter reached mo forbidu further roply, Raspoottully, Joux 0, Bnowy, dovornor, SRS sl hi il | Bathing=Huit Letter from Long-Branch, ug o very complote and oome mit was noticed among the Aausion House: ropos; which It was of dark mado in tho wsual stylo of Dloude, trimmod with whito - eroulos beaid 3 but the drawers wore fast at tho auklos with an olastic liwnd clabpin, : fi:«:‘;fl bino socka, Lo Indy who siure lighter and ovary ‘way, Sho woro.n rbber life-preserver nround hoy waist, awd did not oling to the xu;i- on the water comg rough, and ross al a dolightful sotso not fatiguod by the ponded on thoropa ont all. Sho kald slio 1l ated otoly ut 0aso whon it wes not 0vo tho hoaviout broakéx with of wocurity, and besido waa bath as thoss wore who dos '