Chicago Daily Tribune Newspaper, December 14, 1874, Page 4

4 TERMS OF THE TRIBUNE, 1RT4. "fll'l;ill ul'xll‘lll!clfl;!’(l;:fl (PAYABLE IN ADYANCE). )y mall ... 8 Bund 2403 P Geeeudy el 81800 | Wy bt} Parta of & year at tho raino rate, To yrevent dolay and mistaker, ho sure and gire Post- Oftica adudress fu full, including $tato and Connty, Roimfitancestany bamado oithorby draft, exprors, Post- ©Officoorder, or In tegistered lottors, at our risk, TERMA TO CITY ACBRORINENS, Daily, dolivered, Sunday excented, 26 cnts perweek, Daily, deliverad, Bunday Included, 30) conta por wook, Addross THE TRINUNE COMPANY, Cornor Madieon and D + Chlcago, Il TO-DAY'S AMUSEMENT‘S. OHIOAGD MUSEUM-—Monrae airnat, hotwoon Dear- born and State, ** Itomance and Hoality," M'WICKIR'S TITEATRE—Madison street, botwasn Dastbory and Btato, lingagoincnt of Kiwin Boolh, Aok strant oppusite Btigetrals, Tho GHAND OPERA-HUUSE—Clark nerinan Huneo, Kolly & Loow's lack Blatue,' AOADEMY OF MUSIC—Halsled atreot, hatween Mad- fron and Manroo, | Pazaremont of Tony Donlor's Panto. mimo-Troupo, * Humpty Dumpty.' HOOLRY'S TIEATRE-Randolph stroot, between Olark and LaSaflo. " ¥ Clouds, LU HALT—Madiron stroot, botwesn Olark and AT e, Loataro. b Bavard’ Tarioe. Chubjocts “Anolent Kaypt.” INDEX TO ADVERTISEMENTS. AGR—Cits, Suburban, nnd Country Raxl PRI i R I o A TOREoNE” S8 TIIRD PAGES-Post-Offics Pro- PRIt PAGT-Raflrond Timo-Table, Amuseraoate, Ocoau Stoanshispy, Mudical Cards, ote., cto, it Tlhe Chicage Tribune, Monday Morning, December 14, 1874, Some of the preachers ought to let us Inow whal effect the panic lins hnd in tho religions world. Dochurch-mombors become Qevont and Iny np treasures in Teaven ns they loso treasures in earth? Or do they become ill-tempered, parsimonious, and profaue ? The Pacifte Muil investigation'will not, in nll likelihood, develop anything worth the trouble: Present appearances aro that thero was no bribery of Congrossmon, but that the §7i0,000 nol necounted for to tha Company was lost in Wall strect or spent in lobbying at Washington, . Contrary to genoral expectation, there was no outbrenk in Now Orlenus yestordany. 'Lhie Returning Board lns wisely decided to give credentials only to candidates whose clections avo not contested. Tho results of the can- wass will be promulgated to-dny, when it is possible, though not at nll probable, that somo violent demonstrations may be made by the White League. The Supreme Court of the State of Michi- gon not long ngo deeided that tho railroad-sid bonds issued by townships to railronds were invalid, the law under which they weve grant- ed being unconstitutional. As the bonds begnu to mature, holders began {o demand their money. Nom.residents had the advan- tago of a recent decision of the UnitedStates Bupremo Court, which declnred such bonds valid, and therefore sued upon them in the TUnited Stales Court in Detrolt. So far, judgments have been given against eighteen citics and townships, to the aggregateamount of 2244961, Suits ave still pending against seven township. They say that M x s disconrnged Ly the treatment his financinl folly has re- ceived from the Ifouse, and now admits that tha chances are against the passage of any important ewrency bill thissession, Krrrnny probably knows, There will be one ad- vantage of postponing action, and only ono that we can see. Tho delay will give Con- gressmen an opportunity to study up ihe subjects which they are considering, wero in demand at former prices—$8.00 @5.25, . Mr, Brabravou lectured yosterdny under tho nuspices of the Sunday-Locturo Soviety. It i3 snid that tho Young Men's Christian Arsocintion will soon attempt o series of Iectures in opposition to thoso managed by the Socloty. Tho young Christian men will liave some difficulty in carrying any such en- terpriso to n 'muccessful conclusion, TFor cither they will serve Mammon too much to plenso the orthodox membors of the Associn- tion, or they will servo the Church too mueh to please anybody but the orthodox. Now tho Sundny-Lecturo Soclety docs not pretend to bo orthodox. It doos not apponl peculinely to church-goers, but to all who wish (o bo entertained or instrncted on Sun. dny afternoons, 'Tho Young Men's Christinn Associntion cannot mako n similnr appenl without s wide departure from its old practice, R sttt Tho report of tho Canal Commissioners of this State, if in keeping with the abstract which comes to us by telegeaph, mnkes & very ereditablo showing for them during the past year. Though there hns beon a decrense of the gross enrnings of about £40,000 from 1873, it must be remombered that this yem has been ono of excensively bhard times, and is coutrasled with tho preceding year of un. usnnl prosperity. ‘There has nlso beon o de- erenso in the rato of tolls, which will ncconnt for n portion of tho general falling-off, 'T'he creditablo part of the statement, howaver, is that the Cannl Commissioners show a de- orenso in expenses of over 7,000 for tho sumo period. In hard times, tho only woy to meet deficiencies is by greater offorts of ccon- omy, nnd the Cannl Commissioners aro en- titled to credit for having adopted this policy. The rumors of a disngreement between President Guawr and Secretary DBrsrow, growing out of the appointment of ox-Sen- ator Carrern to bo Financial Agent of tha Government in London, prove to bo abso- Intely groundless. It is truo that Scerolary Ronesox has been seeking to maka interest for Carrenn’s appointment, but it is not true that an appenl hus been {nken or contemploted from Scerelary Rristow fo the President, Tho authorityof the Sceretary of the Trensury to choose his own ngeuts hias been recognized and respected by every- body, and President Grast has not even been approached on the subject. Wo are glad it is so. It would have been n matter of very genernl vegret if nny difference of opinion hed arisen between {ho Seere- tary and the President. Since the timo Chicf-Justico Cuasz held tho port. folio of the 'Freasury, wo lave not Lad so compotent n Secretary of the Treasury, so skillful o finnueier, or so lionest & man ns Seeretary Brisrow, judging him by the fruits of his work thus far, His displacement, or anything that would prejudice his position or impair his usefulness, wonld bo n enlumity to the Administration and the conntry at largo, TIE S0UTE AND THE DEMOORACY, "Tho worst evil that can befol the South is a return of the Democratic party to power nt Washington, This npparently paradoxical proposition ia one which shonld attract the attention of every Amerienn citizen; for, a3 wo intend to show, alt Ameriean citizens,— those of the South in particular,~are inter- ested diveetly in tho preservation of Re- publican rule, and Southern Domoerats no less than Southern Republicaus, Southern whites and Southern blacks, ns well as North- ern whites and Northern blacks, are interest- ed in it. What the South stands most in need of nt the present timo is wealth— enpital. It wants wealth or enpital much more than it wants Democratic suprem- acy. Tho continnanca of Republican rulo will bring it capital and insure the de- 50 that they may deal by the currency intelli- gently, at lenst, if not lionestly, It would be 2 delightful and refroshing sight to sce some of tho great lights steuling away from the {loor of the Senate or Ifouse to spend un hour in thought in some secluded room of the Capitol. Mr. Iinrey himself ought to bave a thinking-room convenionily at band, dist Churely, Dr. HeLmzx, of the Union Park Congregntionel Church, and Bishop WarerrLe, of Minnesotn, are printed in ‘Lag 'I'rimuse to-day. At the first thought, it scems erucl of a newspnper to thiust literntura of this kind upon its readers on a Monday morning, —when thero is the washing to bo nttended to, and all that,—but experience Lamyhown ihat the people themselves do not con- sider it in the light of an inflic- tion, The philosophy of sermon-printing and sermon-reading is too abstruso for ready statement. 'The only obvious truth on the subjeet is that people get their good up on Sunday to such a pitch that that the low tide in morals does not cntch them for twonty. four houry, ‘Wehad no ider that our incidental reference to old My. Syurnr (8. ML, erstwhile leader of the late Farmers' Movoment), in an obituary article on the *‘Independent Party,” would make him feel so budly. Now that ho lns broken out inalong, helf-colum eard, bristling &ll over with froth and fume, fuss and fenth- crs, Wo #ico thint hie hins taken it to heart with au enrmestness wo had o desiroe to develop. ‘Wo positively didn't mean to lmrt his feol. ings. W simply referred to himas o samplo of aclnsa anxious to build up o party and willing to run for Governor on the pledge of 2 banking system on the Government's faith and resources,”—not to touch the resourecs, but to go heavy on tho “faith.” It isnotable, Lowever, that while the good old gentleman feels very badly slout something we lhave Baid (quite innocoutly, wa nssuro him), it is 70t on necount of the reference to him as candidate for Governor; for he is eareful not to sny that he will xefuse to run if anybody nominates hi; The Chicago produce morkels woro ir- regular on Snturday, with Dlittle doing, except in provisions, Mess porle was mod- erately activo and weak, closing at 19,50 @19.40 cosh, and £20.00 for Fobru- ory. Lard was active and cnsier, closing at $13.00 per 100 ivs ensh, and $18.25 soller Tebruary., Meats wore loss nctive and firm, o6 5-8o for shoulders, 9 1-2@Y 6-8o for short xibg, and 9 7-8c for short clears, Highwines woro in moderate demand and stendy, ot 97c per gallon. Flour was quict and unchnnged, Whent was less active.and 1-26 lower, closing at 89@89 1.40 eash, and 90c asked seller January, Corn was neglocted nnd lower, closing at 75 8-lofor old, (7o for now, and 780 sellor Moy, Oata woro in botter demand and firmer, closing at &lo, Rye was quiet ond fumer, at 0i@ube, Bmley was dull, closing at §1,26 for Decomber, and $1,20 1.2 for January, Hogs woro ¢quiot and closed wenk, Bales at §0.50@7.26 for common to tholoa, Cattle wore dull and nominal, Blicep velopment of its resources. A roturn of tho Domocratic party to power would have a ten. dency to drive capital awny from the South, and to provent its economienl recuporation, To wnprejudiced minds this need scaveely be proven. The influx of capital into a country nud the developmoent of ity re- sourees depend very lergely—primarily, wo might sny—on the seenrity of lifo and proper- ty in that country. Capital will not gotoa couniry whero it is liable at any time to bo destroyed. Wealth will not bo produced, and ennmot bo produced, where there i no gunranteo that those who produco it shall enjoy it Good government alono can provent the destruetion of enpitaljor afford any guarantee hnt those to whosa exertions and self-denial the production of wenlth i dno ehall reap the rewnrd of their savings and seerifices, ‘Tho first and mostimporiant oilice of Government is to afford scenrity to person and property. Whero such security does not oxist, overy- thing is uncertain, Tako nway sceurity to proporty, aud he who sows knows not wheth- er hio shall reap, and the spur to all exertion is in consequence removed, Tako away secu- rity, and the weel ave at the morey of the strong; cnyital ia at the meroy of the mob; and the cnergy which should be utilized in the production of wealth is wasted in futile attempts to eave it from destruction. If we honestly apply the principles here laid down to tho cisio of the South, wo shall disicover that it is for its interest and for tho interest of tho wholo country that the Re- publican party should be continued in power. T'he moro strongly the National Government cnu meko itself felt in the Sonth, the better for the South aud for the whole country, since tho interests of ono section of the country aro tho interests of all sections, The Repub. liean party, standing ns it does botween the negroes and the less culightened portiou of tho Soutbern whites, can preserve the peaco between them, and so iusure seeurity to lifo and property in the South, and with lifoe and property to {ho produc. tion and preservation of woealth, which the South is so much in need of to-day. The Democratio party has uo sympathy with the colored race, It movor had. There isno renson to beliovo thut it ever will, Tts ‘atti- tude towards the negro is the uame as it was when it reprosenied tho pro-slavery intcrests of the South, Its accession to power in Washington would be the signal for the with- drawal of the protection of the Federal Gov- ernment from the colored race, end for the delivery of thom over to the tonder mercles of the ignorant portion of the white reco of the South, Teoft to them- selves, tho latter would ondeavor to op- press the mogroos, Left to thom- solves, doprived of tho gumdianship of the power that has been their protector sinca their omancipation, the negroes would bo compelled to defond themselvos, Ienco, n war of races; lience, continual disturbaneo, Ingecnrity to lifo and properly ; hence, pov- orty to the South, with all its attendant evils, Only tho strong arm of the Natioual Govorn- ment aen givo eeurity to the South, and with scourlty recuperntion, cnpital, wonlth, and prosperity, Only tho Ropublicon purty, in THE CHICAGO DAILY TRIBUN ONDAY, DECEMBER 1 74 control of tho Fedoral - Government, will feel disposed to insuro nll these by standing be- tween the nogro nnd tha ignorant portion of tho Southern whites, We care not, there- fore, how much tho feelings of Southern pro- prictors may incline them to tho Domoeratio party, their interosts should incline them to tho Republiean, aud, ifthoy enro for scourity, wealth, and prosperity, they will endoavor to securo the continunnce of tho Nopnblican parly in power, Let thom place the Demo- erata in control of the Government, and they will put themeelves back twonty yenrs, Thero are times when men do better to follow their intollectunl convictions rather than their emo. tions ; and such a timo, hns come for the Southorn people. ‘Tho demoralization of the negro, which wonld inovitably result from Demoeratic nscondeney in this nation, would bo tha domoralization of Southern lIsbor ; and what can a people expeet in whioh labor is not oftictant, stendy, or industrious ? Tho snme rensons that appeal to Bouth- erners in behalf of Republican rule appenl to the wholo country, 'Tho wonlth of the South is tho wenlth of tho nation, and its incrense will influonco the well-being of every Ameri- can citizen, Ience it is, wo sny, that it is the interest of every one, of Southern blacks and Southern whites, of Bouthern proprie- tors nnd Inborers alile, of the whole conntry in fact, that the Democratio party should be exeluded from power, THE PACIFIC RATLROAD EARNINGS. Tho manngers of the various Pacific Rail. ronds evidently regard the Government subsi- dios in the light of pure charity ; or, if not that, ns s0 many *grabs,” which, having beon successfully gotten nwny with, should never bo surrondered or paid for in any form. Ilaving come from the Government, they conclude that no responsibility attnches to them, and that they will recognizo no de. mands that may be made upon them in the name of the Government. Having sapped all the substanco they hope to get, they treat their own obligatious in the matter as if they had never cxisted. The Beeretary of the Treasury, in Tis lato report, de- toils the cffort that hns been made by the Governmont lo seeuro the payment of the & per cent gross enrnings of tlie varions Compnnics, pledged after completion of the ronds to be paid into the United States Trens- ury., Theso Companies have treated nll de- mands in the most contemptuous manner, Congress nt tho last session, by an nct prssed June 22, directed the Sccretary of the Trens- ury to make n formal demand for tha 5 per cent earnings on the Pacific Rnilroads,—the Central Pacifie, Union Pacific, Central Dranch of the Union Pncifie, Sioux City & Puocific, Kansas & Pacific, and Western Pacific Compnnies, This nct thus far hns lind mo fruits, 'The Scerotary's de- mand has met with no responso, though he put the most favorable construction upon the ncts granting the aid. Hoe has con- strued this section to mean that the ronds shall pay 5 per cent on their net enrnings,— ihat is, tho surplus after doduteting the oper- ating expenses of the road,—and that the completion of the ronds dntes from tho last issue of the subsidy bonds. Not being nble to get any answer from the railronds, nor any satisfactory information from the Intorior Dopnriment, the Seceretary has taken the Presidents’ reports of the ditferent Companies, and thereupon estimntes that theso Companies now owe the Government 8,000,000 under the subsidy agreement, This sum, it must be remembered, is to be applied on the prin- cipal of the Government bonds issued in their nid, and is in addition o the £20,000,000 in which they nve already in arrenrs on the interest. ‘T'he net passed last summer also nuthorized the Attorney-Cieneral to commenco suit against theso Companies for the 5 per cent enrnings duc the Government, if tha Comypa- vies shall still be in defanlt sisty days after the formal demend. Thoe Seerctary of the Trensury roports that such demand has been made, and it is to be hoped that the suit will be brought promptly and prosecuted vigor- ously in cose of default, Congress may still do something, perhaps, to assist in securing tho money dno the Government. But a small proportion of tho onormouns amount of cap- ital stock issued by these ronds was ever pnid for, Most of it was distributed in Credit-Mo- bilier schemes, and nover brought n dollar, The following makes o showing of the nggro- gnte capital stock of these ronds, ns we com- pile it from Poor’s Manual Canftal stock, Union Pacifi... 336,745,000 Central Pacifio i 64,275,600 Central Branel Union U0U,600 Kanewa Vacllic, vuure, 089,950 Blouz City & Facific 2,008,400 TOtAL,cuvusionrvaeraeasionsannesssress 104,718,850 Tu nddition to thd above, the Contral Pacific ling $39,641,000 subscribed for. Now, if Congress shonld pass nn act similar to the statutes exigting in most of the States, re- quiring that subscribers to the stock of na. tional corporetions can be made to pay up in cnsh dollar for dollar of. their subseriptions, there ought to be forthcoming a snflicient amount to pay off the $1,000,000 which have acerued from tho & per cent ernings and the §20,000,000 of interest which the Govern- ment hos been foreed to pay. At all events, these Pacific Companies should be followed up by every avenue which the lnw opens, or may be madoe to opon, to adefranded and out- raged Governmont. RECIPRCCITY OR ZOLLVEREIN, Tho New England Sonators, it is said, give it out that the troaty of rociprocity with Cnunda, which is pending in the Senate, will not bo ratitied. Wa suppose this is true, There is no lobby at Weshington in favor of tho treaty ; its benefits aro gonernl nnd not apecific; and while, computed as a mensuro of gconomy, it may snvo ten to twenty mill- ious of dollars tothe whole country generally, it hns not ns mony friends in tho Sonate, noyr in Congress, as has Tox Scorr's subsidy- bill, which proposes that the United States guaranteo over ouo hundred mill- ions of dollars' worth of Toum Soort's bonds, and pay the interest thercon for forty yenrs. A private job has ten-fold the strongth of a measuro for the genoral good, ‘'ho State of Maine raises more pota. toos than its poople can consume, and though potatoes in New Irunswick, over the bounda- ry, soll o high ns they do in Maine, ex-Vice- Presidont nnlin threatens the downfall of tho Republic if Caunda and the United States should admit a reciprocal frade in potatocs, ‘Chero fs not o hillsido in Maine that las not ovhoed the promises of hor stateamen 'that thero should nover be free trade in potatoes, Vermont has marble and nlate-pencils, Con- necticut has onjons, Rhodo Island hns clams, New Hnnpshire has granite and npples, and Mnssnchusotts lLins beans,~so Now En- gland stands 08 o unit against any trade which will admit the Cnnadians to sell similax products in any part of tho United Btates, But tho opposition is by no menns confined to Now Eugland, Tho Sonators from Mich. {gan yeprosont lumbor, those from Ponusyl. vonin coal, petroloum, and iron; New Jersoy, Delnwaro, and Maryland, nll have somo petty special interosts opposod to that of the coun- try genorally, and theso special intorests, ali roprasented at Washington and ench sup- ported nnd protectod by n lobby, are always sufliclontly strong to defont any mensure Which is only commendable beenuso intendoed for the general good. It is possible that a bettor mode of dealing with this subject than by a treaty for recipro- enl interchaugo of commoditios would bo tho ontablishment of n sort of Zollverein, such ns existed among the German States be- fora tho consolidation of tho Empire. Under Auch an arrangemont, all British Ameriea aud tho United Statos wonld becomo ns one eoun- try for nll commercinl purposes. 'Lhero wonld be freo trnde between all the States, and ns to externnl commereo there would bo o uniform tariff. This would obviate the ob. jection that is mado to reciprocal trade with Cnnada, that wunder such treaty British goods might bo introduced into the United States as Canadian products, Undor thoe other nrrangement, British aud all foreign goods would pay the same duty on entering a Cnundian port that they would if enterad at New York or Boston, ‘e duties collected \would bo for the common inter- est, to be divided nccording to populntion. The fato of the reciprocity treaty, and es- pecinlly the cansies for its defeat, give littlo promiso for any othor national commercial trenty with our Amorican neighbory, It mny not be ont of place right at this timo to iuvite tho nttontion of tho atatosmen at Washington to the prosperous condition of the Dominion of Cannda. Canada has a low tariff and specio payments, With an nggre- goto population less than New York, with a harsh climate, all her interior streams closed with ico half tho year, with a soil compara- tively unproductive, without iron, and with no conl excopt in tho provinee most re- mote from population, smrounded on all sides with American Stntes, Amorionn skill and onterprise, the Dowinion pays her way, exponds many millions for internal improve- ments, hos a Jarge annual surplus, and hay enpital in nbundanco nt . low rates of interest. Thp secret is low tasation, or taxation for revenuo only, and a sound currency, When the United States a year ago was reeling from the blow of tho panic; when business, trade, and every branch of industry was suspended in every State nnd town enst of the Rocky Mountains, Canada was not disturbed, Her credit was unim- pairod. Hor business was not suspended. On tho contrary, taking ndvantage of tho general prostration, her capitnl was sent hither, and she bought of us at her own prices and on her own terms. Sho was able to ovail herself of the opportunity, and did so to her great profit. Thet sho was able to do so, is due to the fact that she has discarded tho financinl delusions which yot govern our statesmen. Sho iy in condition to trude with the whole wide world, hins n cwrrency thatis equal to coin on de- mand, and capital in abundanee secking safo investment. Instend of taxing her whole peoplo under tha pretext of protecling a few, she lenves her wonlth in the lands of her people, to be nsed by them to inerenso pro- duction and grow in volume, She is daily growing in wenlth, while our Congress is de- bating as to tho mout fensible way to repu- diation, o — PROGIBITION AND SLAVERY, In'the renms of communications wo have rocently received from the Prohibitionists there is one unvarying line of argument com- mon to all which desorves some attention, Secarcely o writer has taken his pen in de- fenso of Prohibition without instituting o compnriton betweon his hobby aud slavery, When Tie TrinuNe points out the impossi- bility of restricting and dictating to a men in onting and dvinking by coercive legislation, it is met with the universal reply that it was deemed impossible tosuppress slavery, and yot this great uational erime was stamped out. Did not the Abolitionists meet with the sumo diseourngaments, when they commenced their agitation, as the Prohibitionists do now? Were thoy not hooled at and persocuted? Did not oven penceablo and respectablo citi- zens avgue the folly of establishing a third party? Yot the Abolitionists worked on year afier year, aud at last their work waserowned with success, and slavery was abolished, Tho argument would be a good one if the cases were puratlel, but unfortunately for the argument thero is no analogy between the two. 'Tho liues constantly diverge, aud the reasoning which applies to the one does not apply to tho other. The ciroumstances, cou- ditions, moral relations, all differ. Slavery existed only in fifteen States out of the thirty- four or flve, and in these fifteon it was marked by essentinl dilferonces in the num- ber nud treatment of slaves and in fenti- ments relative to the eriminality of sluvery. The Abolitionists, therefore, had o starting. point in twenty freo States, a base of oper- ations, a sentiment upon which they could work, and, oven in the border- slave States themselves, there was o slight sontiment to wlich thoy could appeal, which, nlthough powerless and feeble in itsolf, was neverthe- less an entering wodge which helped to cleavo tho institution when the blows of the ox came. DBut low long would it have taken the Abolitio to abolish slavory if it had existed in every Stato and Lerritory of the Union, and ninety- nine out of overy hundred men had owned sluves in thirly-five States, fustead of two to eight men out of every hundred in fifteen Stntes? Slavory was irregularly senttered over a section of the Union. All the rest was free of it, But liquor in some form or other is to bo found in every State, in every county, township, city, villago, and school- district, and in almosl every houso through- out the Union, The Prohibitionists, there fore, have no atarting-point as did the Aboli- tionista, - Thero is no distriet or State whero there are not drinkers of liquor, In the very States where the Probibitionists are strong. est and have sought the hardest to creato such nsentiment by coorcive legislation, ns in Puritanieal Maine, Vermont, and Mnssa- chusetts, they failed utterly after mora thun o generation of offort aud agitation, not only to provent dvinking, but to reduce drunken- BEBs, The only way in which the two cnses could be analogous would bo something like this: Supposo thet the use and manufacture of liguor wero conflnad to fifteon Statos, and | that the other twenty-two States used only cold water, Suppose that a party should nrigo in the teototal Btates snd, commenco agitating for tho abolition of liguor-drinking in the Torritorion only, bacause thoy ave com- plotoly under the control of Congross and the Government, and that thoreupon tho fifteen liquor-drinking States, in resentment for this proposad probibitory leglslation in the Terri. tories, should hold a convention and reaolyo to socode and brenk up the Union, and noxt to put tholr threats into forse by firlug on tho flag of the Union and making active war ngainst the Natlonal Govornment. Suppose, furthermore, the people of tho teototnl States which edhered {o the Uuion should, on the battle-flold, after o long and bloody strugglo, overthrow and erush the liquor rebels, abolish all the saloons, burn up all the distilleries, destroy all the liguor in thelr country, nnd foraver rrest tho snle and uso of liguor. Ifora would bo an exactly analogous ense, But thisisnn analogy which does not and can not oxist, and thereforo the argument of the Prohibitioniats in compnring themsclves to the Abolitionists falls to tho ground. 'Lhere is still anather line of rensoning which would indicnto the wenkness of tho nrgument Lnsed upon the morals of the case, that is, that slavery wag recognized ns o crimo and tho “aum of all villninien” thronghout the eivil- ized world, and was defended upon politienl grounds, whoreas tho temparate nse of stimn. lnnts is not o erimo or sin, aud is defended upon moral grounds as a natural right which outgiders have no right to interfora with, ‘Phis argument, howover, wo have soveral times developed and need not dovelop again. It is nevertheless the pivot wpon which the wholo controversy turns, and wo do not pro- poso to allow the Prohibitionists to losa sight of it. FLUCTUATION OF THE CURRENOY. ‘We priut clsewhero & communiention enti- tled “Whnt Is I6?” and signed * Forron,” the purpose of which is to controvert the po- sition taken by the President and Secretary of the Trensury in their recent communien- tions to Congross, that our finnnciel embnr- rassments aro mainly duoe to the instability of on irredeemnble eurrency. As this is the cen- tral iden of * Fortox’s” communication, we 6ot nside his other propositions, including his sophism of estimnting our gold reserve by the excess of our exports over ourimports (which in merely tho payment of the interest on our foroign debt), and wo come to an oxnination of the relative fluctuation of our present ewrrency and that of former days. * TFunroxn"” oashke: “Is it nob the experience of every old business men in Ilinois that in no successiva five yenrs of the past thirty has thero buon solittle ftuctuntion in the prico of New York exchango, orin tho gold-purchasing power of the com- won currcuey of the country 2" Mo there. upon proeeeds to baso his whole nrgument upon the efirmative of this proposition. Now, if his promises ave wrong, his argument falls to tho ground ; aud we deny his prem- isea. ‘We liavo been at the pains of ascertaining {from our files for the past five yeurs the con. dition of tho greenback cwrrency at stated intervals, Not to confuso the render with too much’detail, we selcet tho following dates : 18 $u0E 08 Q0L an Julul. Dee.l, 1y 1 05 nug 1wy uyg 10y To meke tho showing a fair one, it should De slated that a month prior to the lnst date gold wes worth 122 7.8, and that during the year 1869 it oscillated from that figure to 185, But taking tho lnst five years absolutely wo find that thero has been o vavintion of 20 couts at times from the par velue of gold, and that it hns been coustantly fiuctunting from about 108 to about 120,—na differenco of . 0% 1103 12 cents, It has not been at all wn- usual to have it chango from 8 to 4 cents during o month, and ot times, as during tho period following the panic of 1870, {hore has beena fluctuation of six or seven cents within a fow days, equnl to ru entive year's intorest on money. As we pointed out in a recent arlicle, such a fluctu- ation not ouly nfects the 382,000,000 of greenbacks outstanding, but the entire mone- tary aud credil system of the country, in- volving thousands of millions of dollms, ** Fouron " challenges us to show auy five yenrs within a period of thirty years—from 1811 to 1874—when there hay been so “lit- tle" fluctuntion. Lot us tako the five years from 1847 to 1861, inclusive. We mnintain that during that period there was not a fluctnation in tho solid eurrency of tho coun. try issued by States, under enroful laws, of more than from 1-10 to 1.3 of 1 per cont; and {hat, this being simply the cost of Now Yok or Boston oxchange, or the ex- ponse of converting tho cwrency into gold, there was nctunlly no fluctuation whatever, and the man who had a dollar of good money in 1857 or 1859 had exactly tho smine nmount in 1861, when tho War broke out, if he had honrded it. Under this estimate, wo include the issues of nll the Now England banks under whnt was known s the * Suffolk sys- tem,"—that ig, the banks which mado the Suf- folk Bank of Boston s common clenring- houso for the redemption of their ewrroncy, ‘I'his system included nenrly all tho banks of New Ingland, We menn also the baul- issucs of Now York, thoso of Ohio (mown as “rodbacks™), those of the State bauks of Indiaua, Iowa, Ponnsylvania, Louisiana,; Virginia, Now Jersoy, and Maryland. 1n other words, the bank-issucs equaling four-fifths of the entiro amount of the enrroncy of the country wers either at par with gold or at the nominal discount of o small fraction of n cont for exchange dur- ing the stated period of five yerrs, Wo con- not include thoe Illinois bauk-issues, simply bocnuso the lnws of our State and some other Wostorn States permitted wild-cat banking, Banks were authovized to be organized and issue notes on tho seenrity of the doprecinted bonds of Southern Htates, some of which wero not worth G0 cents on the dollar, = The old IHinois Bauking-law was crude, careless, loose, and defective in every respect, and of courso tho bank-notes issued under it soon fell into discount nud disreputo. But in all the States whero the bank-issues wore hedged about by safeguards similar to those applied to the National Bank notes, instead of scam- pering backwards and forwards with an oscil- Iation of from 8 to 20 per cent, remnined substantinlly at par with coin.. Tho crisis of 1856 did not even depreeinto theso notes, Many of tho banks closed their doors aud suspendod specie payment until tho storm was passod, but then came forward and re- decme their issucs at par, Dut during the peoriod of suspension their notes still stood at noarly par, so strong was publio couftdonce in their solvenoy. The National Bauking system was con. structed after the models furnished by the New York, Ohio, and Indiana Stato systems, which wore built up in the chronologienl or- dor of the mention of tho nammes, Chase nnd McCulloch framed the National Baunking systom upon the samo plan which had been found to work o admirebly in these,States, with ons important exception, That ox- coption oxplains why the National our- rency has oscillated B0 enormously, Tho bank-desuos undor tho Stato lawa wore bnsed upon vedemption in gold ; tho iseues of the National Banks are bused upon tedomption in logal-tendor notes, which aro themuolves drredesmable, Honos the fluc. tuntions of tho last five yenrs, ns compared with the stability of tho currency from 1857 {o 1861 inclusive of the States above men- tioned. In other respects, the Nntional law Lins oporated ns well ns tho Btato lnwn of New Yorlk, Ohio, aud Indiann, ‘Thero hins novor beon a failiro to rodoem National Bunk issios in tho currency promised or provined i the Inw; tho failure of n National Banl ennnot, with the scenrity exacted by the Gov- ernment, alfoct the valne of ity jssuos, DBut 80 long na thero is 1o provision for a final ro- demption én gold,—the universnl eurrency of tho world,—just so long will the country be subject to sudden and enormous fluctuntions of tho currency substiluted, along with all tho disastrous consequence, BLIGITLY BELOW PAR, 16 the Pdltor of Tho Chtengo Teibune: Sin: T havo ondeavored to wado through laborod articles, in Haturday's TRINUNE, upon the fuauchl rolicy of the country; but, for the lifo of ma, I cane not sco tho polnt, You say thut * Every time ke greenback falls ono cent on tho dollar, thoro fa a re. ductlon In tho valuo of thin vast maes of property [$12,455,000,000] of $124,500,060."” Now, ohservation teachion mo that the reanlt 1w oxactly tho contrary, [*'ho word should have been *rires,” in- stead of “falln.” "The previous sontenco and the subsequent one makes tho whole paragraph clear ononugh, however, It is the changes of tho currency-valuo of property which follows and attends the fluctuations of the gold prico of the greenbacks which weo were illustrat. ing.—Eb.] When the currency depreciates, as compared with wold, raflroad stocks, rafiroad bonds, munkeipsl Loud, National Debt houds, ngricultural and manufuctured praducts for salo, ail apparently risa in valte, but per- hapa ot to the extent to which you eny thoy fall. ‘Tho trutls ls, Government bonds follow gold, and sl other products of Inbor sympathitze with them—tho * do really romuins nearly tatiouary, and tho *tsil risea and fulls necordiug to the lmpulse which tho * dog " givestolt, [If our hypercritical correspondent wonld wateh the market quotations of produce, he would discover that every time tho * tail wagged” the ““dog” nlso was moved. Al tha kinds of property onumerated in our ta- blobave a certain gold valuo, which only changes in obedience of the world's law of supply ‘and demand, and with the responsi- bility and good faith of the debtor towards the creditor. But our vicious, irredecmable greenbnck currency introduces o now eloment of uncertainty in the valuo of products and credits,—nn element whick produces daily changes of ourrency value, which keep the Lusiness publie ever uncertnin as to what their property will bring, and introduces a gam- Dbling and speculative spirit among men which inturn lends to dishonesty and immorality, all tho result of retaining a dishonest, irre- deomablo, fluctunting currency.—Ib, ] With due deforenco {u tho groat financiers of the country, I must be permitted to aay that thero scemn to bo 8 great wasto of tima and Iabor in devisiug means o reach spocio payment, A simplo uct of Cone gresssuthoring any person, holding $160 fn *legal teudors,” or nuy multiplo thereo, to fund or oxeliougo the sato for a bond bearing 4% per cont gold inter- cot, would, in my miud, solve tho wholo problem, Thers would then be 1o uso for tho Government to hoard gold with which to redeem, sud tho moment tho 43 por cent bond shonld reach par in gold, tho legal tendor and the Natfomal Dank notes, boing redeamabloin legal tenders, would both bo yar, und no shock would bo folt in tho buelncss afalrs of the country. Such 43 per cent bonds, if given forty yoara to run, would probably now be wortls 97 per cent in gold, with tho centaluty of renching pav within two years, or ot uny rato in a vory brief period, This, aud free buuking, with the sama gocurity and proviulons for redemption £a now provided Ly huw, would glve us not only a flexible, but u perfectly securo circulation as gaod as goid i tho ueur future, and at onco better thun wanow have, [But “ Juvess” will be met bya howl from tho debtor classes. If the greenbncks may Lo converted into & 4 1-2 per cont gold bond worth 97 per cent, then the man who has bought goods or lunds and given his obliga- tions therefor must pny his debt in money worth 97 eents in gold, wherens he only ex- peeted to pay in currency worth 86 or 88 cents on the dollar, the same as it was when Lo made the debt. Ho sets up the objection to “ Juvenig’” scheme that, wherens he ro- coived omly 86 or 85 per cent considern- tion, “JuveEnis” would moke him pay 97 per cent, and thereby oppress him 10 per cent. Thoro is undoubtedly n lnrdship in requiring the * dobtor class” to liquidate their debts in a owrency worth 10 or 12 por ceut wore than that in which it was contracted. It is asking a man to pay much more than either he or his ereditor expocted that he should pay, end is at least a mornl violation of the contruct. If Juvesis had suggested o 4 per cent gold bond, which would he worth just about what the green- backs aro now, and have been for the last yonr or two worth, he would then hnvo es- eaped the opposition of the ¢ debtor class™ to his proposition, and without their consent 0o funding schiemo can pass Congress.—ED,] Oapital being the accumulations of pre-oxerted Iabor, and Inbor and capital being tho only mouns used in couverting what tho carth contoins or will produco to the uso of mau, it follows that the truo mousire of thevalugof any cominodity 18 tho Jabor it tukes to pro- duce it ; aud that country fa tutrinsically tho richest which can produco tho most fo wustsin life with u given smount of labor, Qold being a product of labor, any dlscovery of rietior placers, or improved mothuds of mining or oxhuetiug tho metul from the ore, by which the sumo asmount of lubor would quadraple tho yleld, the veluo of gold would bo correwpondingly reduced when compared with other products of lubor, Iienco the folly of claiming any other measuro of value thau that of lubor, If T recelve &S for a day's work, and pay §3 for a bar- rel of flour, my wages 7o tha samo ny when I rocelvo $4 por dnyand pay $4 foru barrel of flour, my labor in each enso cifording tho same means toAupport Lfe, Buch Lolug ths fact, wo ncad not trauble onrselvos vory greatly whilo our well-seeurod curreney omning slightly (2) below pur of goid, Yours truly, Curcaao, Dec. 12, 1674, Juvews, [With gold at 111 3-4, the greenback isonly worth 89 in gold, which depreciation of 11 por cent will strilke most peoplo ns & good deal moro than * slightly below parof gold.” An individnal whoso cradit is 11 per cent bo- low par s looked upon with suspicion and apprehension in “‘bank parlors” A man whoso noto is kiting about among the shavers and discounters of paper at 11 per cont off, is gonnmlly regarded s protty hard up in Lhis finances, A perdon who ean pay only 80 per cent of what ho owes is a fit subject for the bankruptey courts. A man whose personal charaoter is 11 per cont below par had botter not sie anybody for slander or libel, or tho verdictof “twelve intelligent jurors " will open his oyes to the fnot that ho is o good denl more than slightly below parin their estimation. Elevon per cent off the end of our corvespondent's nose would “slightly” disfiguro his handsome countonance,—Ep,] Noxt fo nn argumont on moitors of syntax (seo Rronann Graxy W), (ho most fruftful sourco of bloodshod s a dlacusslon of roliglous mattera, A rocout caso has complicated the Lu- ropoan quostion, A Christian and a Moslom talkod religion, which onded in tho muvder of tho latter by tho formner, who was said to bea Montonogrin, The murder occurring on the borders of u Turkish villago, the Turks rose in arma and slow sovontoou Montenegiiug. Tho noighboring distriot yose and armod for tho fray, sud o goneral mnssacro was only provented by the prowpt action of the 3loutenogrin Pringo, aud a promiso by thoe Graud Yizier that the mat- ter would bo properly investigated, supported by o plodgo from the Courts of Bt. Petoraburg and Viouns to uoe falr plays Thus the peoco of Bu- rope was for . momaont Jeopardized by tho faver of rellgions fanaulotsm. Tnory ls such o thing au intemperance in roliglon ng woll as in alookul, aud its victimg nre countoq by tho million, TRE IS3UES OF 76, Tar OtoAna Twsowe, hnving Intropldly aessried tho dositius of Coutiuim vy, | Cormttiotimns [that da, Nuttona! va. Blulo Bovorepnty), a fow Detnoe eratle papers promuptly ncceptad (1o faipo this o as th teve Lattio-geound iy 1870, pup many ofl doduedt the aueation, und really scompd o fonr tnnt (153 Atntuinent of 1o cugs Would fijur thefp rayes. Ao Wo rallect that 18 n Sust hin nort of vuaturs swilel hos but tho Domooratiy’ party fato divaeacotl ouandaties over nliico 1863, it {# roully WONEACU) 1o wiinieps piry naquirming o the subluot tu I674, " 16, it ho grant Ineuo of Conutitutioualisma [l o, BiataSaveroppats] agalnst Coutraliewm [f, e, Natiotal ™ Lumocracy casnob win n Vrosilontiul cousmt (hele chines fOF BUCCORH 310 VOLY mengio. Sudevd. "An of liews efgus miny portond inotber bluwdur ' 1810 rludior 10 thul of INTL., Alrendy woma soccalid “rtntenmon ? o orowing out lusilly that fom belped win tho vocent viotories, and newspayoss st renowiied for thoir nagucity o windom des or. {etupting to_confuse tho truo and only living ey whlch ean securo o triumph for Domoctacy and. iy iy walation of he country,—4 uguatu (Gd.) Connticu: ivnalist, Tho Qeorgin Constitutionalist is tho ablest and most Intluential Democratio puper {n tho grent Democratic Statoof Georgln, and, not lavivgthe foar of tha Ropublican party boforo its eyes, it talks boldly end meots tho Issuo Bquarely, whorens the Demogrativ pavers in Republicau c?mm:mhlos, liko tho Cleveland Plaindealer, th York ZLzpress, Snringlild Kegister, Dotroit Free Press, Cincinpatl Enguirer, nnd muny others, trim, Oquivoeate, or deny the real quese tion which underlioy tho two great parties, Thoy try fo ovado and keop oat of might the _I)nmunrntxc Dosition, as thoy aro nfraid to avow it lost t should have tho effect of alarming those Ropublicaus who voted b Domoceatic ticket nt the rocont elections, and eausiug them to retirn to their own natural nohtical aftiliations. The Chicago Times goos s0 far in this dodging business as netual) ly to uphold and advocato the great Ropublican prineiplo of Natlonal Bovereignty, and to ecout and ridienle tho Democratio doclrine of Stato Kovorciguty | This fa doing businuss under falyp protenses, and justly morite the contempt of tho Bouthern Domocratic journnl Hoverelguty], tha 5 Gronieys Wo hiavo hithorto rofrained from taking any notice of the constaut sncors of Domocratic pae pers and somo other starveling contorng, whick aro neither oo thing nor another, at Tug Cire 0A00 InnoNE for printing an advertisomont from tho Pont-Oftico Depnrtmont. Unablo ta answer tho nrgumonts of Tne Ternuns upon Btato soverciguty, tho fundamontal fssnes une derlying parties, the policy which should govern tho Republican party, and tho dangery which ate tach to tho policy of tho Demacratio party, tho whole pack raises tho hus and cry of “ Govorne ment advertisomont,” and ballooos itself hoarso. 8o much virtue, innocence, aud ‘purity were novor lonso at ono time boforo, Such Incorruptibla RewWspApors novor existed befora, Never befora were thero 8o many editors in city and country who havo barricnded their offices against tho possibility of boing contaminated with an ad- vertisumont from auy of tho Departments, Wo presiune soveral hundred alluslons have been made to this advortisomont within tho past month from several hundred incorruptible ‘Domocratio editors, who woro filled with mingled emotions of pity, indignation, syme patty, aod scoff. Wa havo proforred fo wait until now beforo noticing theso ecriti- cisms, The Tost-Ofico mail-letting advor tisement appears for tho last timo this morning, and wo now stato how and undor whzt circumstances it was printed, not by way of apology, a8 we may bove to do tho samo thing over again, but to show thesoincorruptiblo Dome octatic editors that they afe wasting tholr pity and their {ndignation, and that their courso with rospect to tho business of Tur Crroaco Tninuxa is & ploco of gratuitous impudenco. 1. Tho advortisemont from the Post-Offico Do partment came to the counting-room of Tim Circaco TninoNe just a8 any othor advertisve ment does. It wae unexpocted and unsolicited, Advertisoments aro the morchandiso of nowspa- pers, and, as no merchandise of this sort which in not improper or 1llegal,—liko a lottory advor tisoment, forinstanco,—is declined by T'ue Tripe USE, it was taken at tho regular advertising ratos of Tie Tutnuxne, just as thousands of city, State, aud business advortisoments aro inserted. Wo did not atop to inquire whothor tho printing of such on advertisemont would ropresent any opine lons of Tur TRinUNE relative to tho Administra- tion, or uny policy of the head of tho Foat-Oflice Dopartmont. Their opinions wero just as imuma- torinl n8 tho opinjons of tho businese man who advertises his waros, or of the servant girl who secks hor wituation through the columus of Tux TmuNe, 2: The attack made by theso papers upon tho courso of Tue TRinoNe in printing this advor- tisement,~—in other words, in ecarrying out n business contract with tho kost-Ollico Depart- ment,—clearly enougl shows that theso papers belong to the vory class which would be iutiv- enced by patronage, and that thoso Pharisee: whicl pray the loudest aro the very ones who in times past hnvo been the most subsorvient lick- spittles toanyono who would foed them with Govornment pap. 8. Tug TRINUNE, from the Inaugnration of Mr. Lavcory, in 1861, to the defeat of Mr, GuecLry, in 1872, received moro or less of Covornweus: advertisoments, boeauso its circulation aud intu- ence rendored it the bost medium of ndvertis- ing, but it novor solicited or sought after this rottonago. In thia respoct, tho Gorernmens showod the samo discrimination as busines. mon. Wo aro not awsre, howovor, that thiy fact, In times past, ovor influoncad Tan I'nnoNe ooo iots, or caused it to ewerve bair's-breadth from its staudard of inde pondent ecriticiem. During Mr, LiycouN's Ad- minigteation, during the Wur and siuce tho War, it bag resorvad to jtself tho right of Ireedolq oi opinion end untrammoled sposch, end this righ: it always proposes to roworve, Thecourso o Tie TRIsURE in this respoct for many yoars puas: is o mattor of record. 4. Oue ronson why certain impecunious novrs papor concorny throughout thy country have in. dulged iu theso peraistent flings und tanuts i their supposition, and consoquent jealousy, that such an advertisement as this must b a worth o #mall fortune to s Tarnuse. For the relief of theso mondicants, wo wmay state that thoy make & sad mistako, Tho advortisements takon from within a radiue of four blooks of Tme I'ninuse offico aro worth moro to it, ench weel, not only than this edvertisemont, but than all tho Government advortising recoived in six monthe, 6. Tho polioy and position of Tiz Cmicsdo Trinuxe wore clearly and unimistakably stated before any Goverament advertisomonts wero ro- colved and printed, and to that, policy it pro- posos to adlore, It will bo an independont Ro- publican newspapor, whether it prints Govern- mont ndvortisemonts or whether it doos not, It it prints thom, it will bo on the same torma of &l othor advortising, viz: at so muoh a llue or square, puyuble in caeh, oxactly us morcantile advortieing. Buch boing the facts of the case, the suarling ours can go on with tholr barkiog, e MR In commenting upon tho vorsion—oithor pro or con, according to taste—of the Marquls of Teoy, tho London Zmes sald that though s Protostant who becans o Catliolio displayed & montal infirmity which disqualified him for fm- portant politioal truats, thero were many nobly men educatod in the Catholio faith whose pro- fessod beliof gave no toue or color to thoir life or principlos, Hud it spoken with eapecial rofe erence to two Poors of tho roalm who have ro- cently appeured in print on tho GrapsToN:- JANNING controversy, it could not have boon more pointed. Lord Actox, o Oatholle, roplying to Mr, Grapsroxe's pamphlot, admitted that formor Popes hnd boou guilty of tho most shook. ing and detostablo crimos in tha past with. out securiug the approval of Englieh Catholies, aud walntained that thore was no more danger, no that the Pope's infallibility Lns beon mado o Jdogma, than thero wau thon, adding that the Ohurch of Rome could not oarry with it English Cothollos lu wll tho folllen wud ibsurdition it