Chicago Daily Tribune Newspaper, December 17, 1874, Page 4

4 THE CHICAGO DAILY TRIBUNE: THURSDAY, DECEMBER 17, 1874, TERMS OF THE TRIBUNE. 1815, RATLE OF SUDATRIPTION (PATADLR IN ADVANCE), . Poxtngn Lrepati nt thin Ofice, D) mai) PR Tartaof & ye ‘To pruvent delay and mistakes, bo suro and give Poste Offiee addrors in fall, inoluding State and County, RNenittanceamay bemado olther by draft, expross, Post Ofce order, or In reglstered dettors, at our risk, rRnKE To CITT sURSGRINENA, Daily, delivered, Sunday oxcented, 23 conta par waok tivered,” Suuday includad, 13() conta por wook THE TRIBUNE COMPANY, d Doarb Chicago, 1l wero quiot and stendy at 970 por gallon, Flour was dnll and wonk. Wheat was moro active and very irvogular, olosing ot 87 8-ic cnsh, and 88 1-8¢ for January. Corn was relatively notive aud 1-2@1e highor, closing nt 780 for No, 2, 7ito seller May, and 67 for now No. 2. Onts wero moro notive nnd a shnde firmer, but cloged tame nt 58 8-8o cash, nud &3 1+4e for January. Ryo was quiel and firm at 941.2@%ec. Borley was in bet- tor demand and firmer, closing at $1.22 1-2 for Janunry. Ilogs were dull nnd 20@27c lower, with sales chiefly at $36,25@0.80, Cat- tla were fairly active nnd firm, selling at §2.25@0.26 for poor to extrn, Sheep wero O110AGO, MUSEUM-—Monroa sfroot, batwoon Doar- d Stato, ** Homanco and Hoality.™ Afternoon Ft i S wonl. MVIORVR'S THEATRE-Madison stroat. botwoon | Of mnking fnance bills thero is no end. Dogrhorn sod Buate. Kogagement of Kdwin Hooth. | And thero nevor will bo, until Congross do- cides upon somo one of the hundred proposi- tions which have been ontertained by it ab ono timo or another. The Executive Council of tho Natiouat Board of Trado is tho latest claimnant to the honor of restoring the enr- rency to n sound bnsis, It hag propgred and submitted to the Currency Committco of the House o bill which has many admirable features, nnd is quito as radical as anything thnt tho President or Secrotary Dristow de- sires, An outling of the bill is given in the Washington dispatches this morning. Con- gress will probably not pass it; but it is worth considering, i only ns an illustration of the policy which wisdom and prudencoe alike dictate. GRAND_OPERA-TIOUSE-Clask st g?‘-:r'v‘n‘-n e AT e Loans. Misvirel. X Btaue ACADEAY OF MUSIO—Halsted steoet botweon Mad- o b 4 of Touy Denior's Pauntos e S+ S o Haanatalk. i T HOOLEY'S THRATRE—Tandoiph stroet, botwesn Liark and LaSalle. *' Clouds.™ LI, Maditon streat, botwoen Clark and BEA;E-W A ity Hosthoroa ooty and rohoatra. SOCIETY MEETINGS. OLEYFLAND LODGE, No. 211, A. F. and A, M.— 0 elgniosnth annual communicailon” {of tho oleotion 3 iissre ad posiont of dues Wil bo Wotd on this Foursdag evaning, Du, 1 n‘r:'l:lll'. sharp.” All tho mom- Sreby roquostad to o urose Areareby PGS, DAVIS FITCH, W. A, GRO. K, HAZLITT, Seo. YORT CHAPIER, No, 145, . yoostign this (Thuraiiy) ovonlu at 7:30 o'elock, for eloc. Tt otlcons and yupraun of duce; "8 tull aitgudaace ‘rdlor ot tho AT, Te, I, T EinsiiEanee G WO MERIELL, Sob. RILWINNING LODGE, 11, E. and A. M.—Annual oommunieation for tha slection of ofticurs and payment ‘of dues, will bo hold at tho ball ol the Lodgo, No. 187 Etnslo-it., tls (Thuraluy) osuntug, 13 o clo M,—Annual con- Althongh the Judicinry Committeo of the House has agreed to roport amendments to the Civil-Rights bill which would removo its most objectionable fentures and insure tho approval of the President, it is not consid- ered probable that any nction will Do tken on the question, Tho Scoato, it is thonght, would not agree to the amendments, nor pass tho bill over again inany shape, if it should be returned forgetion. Wodo notregard the im- pondingfatoof thebill with much concern. If it passes the House 1 its presentshape, it will bo vetoed by the President. If it is nmended and sont book to the Sonnte, it will die in committee. The nmendments to be proposed in the House are good enough. They strike out the cometery clause, and add a proviso to the mixed-school section, allowing the main- tenanco of separate schools. If the bill (o8trad. ATFIRLD, W. M. LODGE, No. 612, A. I, & A, M.—Membors O i A Sr ot kadh at b 0'plock s (Thire: o) mormieg, €0 agtund funeral of our 14to Jito., 1Horman Dtam] duck. Uy orderof W, M, W OROFT, S0y, b E, No. 6, F. & A. Masons.— T chnlostion Lokt i CRETe eto, o X Sy oraorot the W! M o U GOLBORN, Sagrotaty. J. TURNER LODGE, No. 409, A. ¥, and A, annual eommunication wiil 08, n’.l‘ll S, ; uing, Doc. 17, at Maronic Hall, 72 Monr . : ::flfn:gly-m R 5 E. PGITIBONE. GOVRNANT LODGH, No. 624, A, I & A 5 L tar annunl communicatiin on keiday ovaiing, Dersaiay: | #hould bo reduced to this shape, its presont friends would probably agree with us in say- nent of daos, tslar W, ing that it might ns well not pnss at all, - & 1o nitond. By "All monibers msnogno?\x e q DQE, NO. 10, A, F. &A, M.—Tho oA A At or of ‘wflcors Wt pasment ot i Dol a¥onicaial Tall, Thiday svoning, Deo. 1% 20td. Mlembors o heyeyy ARG, W, 51 E. 87, JOIN, e €SS NOTICES. The affairs of the man Montox, who is said to have attempted tho bribery of a Chicago grain-inspector, are becoming seriously in- volved. Gov, Hexpricks, of Indinna, as will be seon in the telegraphic columus this morn- ing, agrees ontirely with the position taken by Tue Trinuxe yesterday, that the arrest of the Illinois ofiicer on a charge of kidnapping amounted to a denial of justice. The Gov- arnor yesterday ordered tho dismissal of the kiduapping cnse, using this vigorous lan- guago: ‘A crimingl procecding in tho uame of the Stato must not be used to de- feat her duty under tho Constitation,” We Topo to have the man Morzo in Iilinois be- fore many days, and, if heis found guilty of the alleged offense, to sco him sentenced to the extreme penslty of the law, The out. rages to which the representative of Illinois has been treated by Monron's friends will not recommend the culprit, if ho shall be so proved, to the merey of the Cowmrts or Gov. Bevznor. NRTT'S COCOAINE WILL SURRLY KILL etore the patural action, nyon which tho growth of the halr depends. 1t liaa given rotiof n the worst cases. | 3¢ 11 a sciontific preparation, froo from f{rritating matior; o romoter of tho ulmmh obthe halr; thobest and cheapest fAn DARSSING In tha World, () Omicano, May 19, 1871, Mesers, Joteph Burnett & Co.: e " GEriEaaN: Sinco iho rocont uoof yous **Cocoalne, oy proviously bald head bas been coverod bya luzuriant @rowth of balr. I had always esteorueil your proparation rossi 10 l'ull'n{J yomnl who rogardod it chy but nover bofare know Liow valuabla ratfvo. Verytraly, J. G. LEWIS. druggista e INDEX TO ADVERTISEMENTS, —Gity, Suburbna, and Countrs, Tteal ey Toess, To M ebvagt, Lovt and Found, ANT >, i~ Amuserent orl Btoamships, Raliroad Tlme-Table, oto., vte, The Chitage Tiibune, Thursday Morning, Docomber 17, 1874. On tho third pagoe of thispaper will bo found o valunble article from the Now York Sun, reviewing the action of Congress on that item of the Approprintion bill of 1872 which in- crensed the subsidy of the Pacific Mail Com- pany. The specches and votes of mom- bers at that time appear now, in the light of recent rovelations, to bo especinlly instructive, It must bo said, lowever, that some of the members who voted for the subsidy did so honestly ; others, thero iz no sort of doubt, were influenced by interests in certain Wall street speculation, ‘Wo prefer not to consider who were the guilty oncs and who the innocent until the Congressional investigation now in progress is concluded. Therois renson to fear that tho dark transactions by means of which the subsidy was obtained wero too carefully covered over to be fully exposed. Butenough may be shown to meet the onds of justice, and to remove forever from publio lifo those Congressmen who betrayed their officinl trusts, The testimony of InwiN will probably dovelop the main facts of the case, Ie is £0id to be on the stool of repentance, and in nmood to tell all ho knows, His cxamina- tion will be continued to-day by o Sub-Com- mittee of Ways and Menns, The interview with him yesterday was merely preliminary, and of no pablic interest, A proofrender of Tur: TRIDYNE OWos Az huomble apology to the Faculty and Alumni of Harvard Colloge for passing a typograph- ical error into yesterdny's paper by which that ancient institution of learning was made to appear ns one of tho beneficiaries of tho Freedman's Bank. The Howard University was weant, of course. The statement that the Baltimore & Ohio Railrond has joined the Saratoga combination will be received with surprise and regret. The people of the West have depended upon the new connection as a means of relief from extortionate rates, If it proves not to be that, perhaps the people of the West will Anve no use at all for it. Alr, Cocuraxe, of Chicngo, is said to be the ocoming man for Supervising Architect of the Tronsury, to succeed Muzierr. Chicago hus beon doing pretty well by the Government Intely in the matter of appointments, Wasit- nony and Cocnmane are two men quite worthy of the offices which they have been chasen to fill. Mr. Freeman Auiey, * the honest denf xman ” whose love-correspondence was pub- lished in Tue TrmuNe several days ago, comes back on us for $15,000. He says his little town is ** entircly noisy " over thoso letters. Now, thot is not so surprising, In the local columns will be found a calm and Jjadicial view of his case, which we hope will convineo him of his errors, and lend him to asgk pardon for his black ingratitude, An oxtraordinary debate wag the one in the House Committee of the Whole yesterday on n proposition to strike out the approprin- tion for postnge-stamps, and re-cunct the franking privilege. 3. Georan T Toar incited the controversy by inquir- ing of Mr. Ganrrmnp whether the deficien- cy of the Post-Ofica Deportment had not increased since the nbolition of the franlk, Mr. Ganriep enid it had, but that it would probably have been still greater if the frank- ing privilege had been in operation. Ho said, too, that whatever the fluancial re- sults might be, the experiment ought uot to bo abandoned aftor = trinl of only ono year. We agreo entirely with Br. Ganrrerp, and only wish that ho had not been so half-henrted in his defenso of the Post-Oftice Departmont. It ia searcely worth while to consider seriously the romnrls of Ar. Keurey, who said he hadit noton his conscienco that he ever voted forthe repenl, or of Mr. Maynanp, who said that the only effcot of the repenl was to cut off free com- nunication between the peoplo and their rep- rerontatives, Mr. Krrrey hns no moro wis- dom in practical matters than an infant in nrms, If he is not a demagoguo, it is becnuse he i too foolish to be anything., Mr, Max- NARD, L0o, appearsatu disadventage in thisenso, The truth is, and all membern of Congress Inow it, that there are moro clements en- tering iuto the consideration of this question thau tho bare swount of tho deficioncy in any ‘When the Sub-Committee appointed to ex- amine InwiN in relation to the Pacific Mail corruption-fund got as far ns the question: ““Whom did you employ to obtain the sub- sidy ?” the witness was overcome by a violent attack of ‘“fover,” and tho session had to be adjourned, Although conflned to his bed by illness, Inwry was doing pretty well until that tremendous question was asked. Then he said he “*felt badl, No doubt he did. Without attemplingto defend the men at Des Moines who were ongaged in Iynching the murderer Howanp on ‘Iuesday, wo must goy in their Lohalf that they led strong provocation to net as thoy did. Howanp was by all accounts o desperate ruffian. He was Lknown to bo concerned in mavy murders begides the ome for which bo was convicted, and is s0id to lave threat. ened the lifo of the Judge sud jury who tried him. If ever & criminnl deserved the death-penalty, Howanp did. Yot the lnws of Towa interfered, and prevented the infliction of any greater punishment than imprisonment, for lifo. Surdly the offenso of the | onoyeur. ‘Tho propusition was rejectod by mob that took this man from jail | the Committes on a closo and small vole, If was legnl rather than moral,—an of. the watter had hoen in open House, and tho yeas and nays ovdered, the mnjority against it would have been, wo believe, more decided. fense, to bo wsure, which deserves the roprobation of all good men, and severs pun- ighment under the law, but still one which has many pallinting circumstanees. Wa rec- ommend the culprits to mero; Princo Bissanck comes out of the Vox Auxist trinl with an fucreased reputation for sngacity, moderation, and self-control, His cowrse through il the voxations litigation, and tho provoking correspondoncs whivh pro- ceded it, nppenrs worthy of n Prinee and n grent stalesman, The letters of Vo Anwiy, whick have latoly Leen published in the Eu- ropoan pross, uud abstracts of which have renched us by telogeaph, carry with thewm a justification of Biawanck, Whatovor iny have been the usngo of the German Ewmbassy T'he Chieago producae markets wore gon- erally strongor yestordny, with more doing, Moes pork wis very notivo, closing fic per brl higher, at $18,85@18.40 cash, und $19.30 soller February, Lard was active and 12 1-20 per 100 Ibs higlor, closing at $13,00 cash, aud | $18.26 seller Fobruary, Meats were dull and « gasier at 6 Y-8o for shoulders, 9 1-40 for short * yiba, aud ¥ 1-20 for short aloaxs, Highwines at Parls, it is plain that theso lotters ought to have bieon rognrded ns confidentinl, and that tho German Govermmont was right in adopt- ing rigorous mensurcs to provent their pub- lieation, Ono letter, for nstanco, instructed VoN Anxnt (hat Disstano did not desiro war between Franco and Italy, for, in suchan ovent, Germany would bo obliged to interfora on behalf of Italy, Auother leiter was in answer to oue from VoN Anviat suggesting that Germany would find nn interest in mmintaining the DBouapartists. Bra- smancr said that ho did not seo any acension for intorforenco at that timo, Agnin, Vo Anxist was warned not to assist Franco in obtaiuing n stablo Governmont through the restoration of tha monarchy. We do not seo that thore ean Lo nuy dispute about tho right nndobligation of Prince Bissanok to suppross theso lotters, if by any logal means ho could doso. And if it is truo, ns voporied this morning, that Braxanci will advise the poar- don of Vox Aunmr, If ho is convieted, ho will have additionnl claime to tho respect anduym- pathy of the world. 'Ihesunppearances, how- ovaer, must bo modified by tho reflection that {lio proscontion of Vox Auxise may bo floti- tious, and designed to bring ont the vory let- ters which avo now creating #o great o com- motion in France, FINANCIAL PROBLEMS, Tho ombarrassments of tho country and of individunls, nud of the general industry of tho country, resulting from the deprecintion of the curroncy, are mattors which require study aud research, They aro not new to tho United Stntes, but are as old as paper money, and most Qovernments have passed through them, nnd invariably, after trying all othor possible devices and expedients, bave found permanent eseape only by o return to spocie- payments. The American problem iy, Tow cnn greenbacks bo madoe as good as gold, and nt the samno time be keptin circulation? The golution of that question is sn oxceedingly dificult one, requiring most careful consider- ntion. Thero have been but two plans worthy of serious thought proposed, and to those, with the objections to thewm, woask attontion. Tho first is the scheme of rodecming the greenbacks in gold, and then paying them out ngain in the purclinso of 5-20 G per cent bonds, The end sought is to advance the value of the currency to that of gold, yet keep tho notes in eirculation, Of course, it is ensy enough to retire greenbacks by pur. chaso or otherwise, or to fund them in bonds, but this would involve not only n contraction of the greenbacks but of the bank eurrency, which is not deemed advisable. It is not so easy, howover, to provide n menns for the re- issuo of tho greenbacks, To receive thom for current expenditures would be to make a new lorn and increaso the public debt, which of courso is not to beallowed, Tho first objection to Suzryax's plan arises from the debtor class, which will instantly protest agninst tho sud- den and arbitrary increnso of their debts by 10 or 12 per cent. It is truo that theso dobts were contracted under thoe liability or chanco of the legal tendors increasing in voluetopar, ovon as they have ndvanced in value from 66 cents in 1861 to 89 in 1874 (although there has been no advance in tho last five years). Novertheless, there wns o moral or implied understanding thnt the debts were to be paid in tho greenbacks at only such value as they 1might gradunlly attain by endless vibrations. To suddenly, by law, make the greenback fandable in coin, or ecquivalent to eoinin value, would have tho effect, as tho debtor clasa would claim, of ndding from 10 to 15 per cent to their debts, which amount to soveral thousands of millions of dollars, ‘This objection will bo seriously urged by the great multitude who believe themselves specially injured, and will b difficult, if not impossible, to overccme ; and this, notwith- standing that each of the samoe class will bo 8 largo recipient of the advantages of the change. A seeond objection of some weight to this plan is, that the Governnient will Iose monoy in every transnction. It will be obliged to sell its bouds at o discount when- evor there is any netive demand on the Sub.Treasury for gold; when theroisn ‘“run,” this discount wmny be large. And then, in paying out the redeemed greenbaclks in the purchaso of 5-20 bonds, it mey hnve to pay a heavy premium, because it cannot compel the holders to sell or surrender them for currency, When the Government noting on its option ealls in 5-20 Londs, it must pay coin for them, uuless, indeed, il resorts to foree and compels the holders to nccept notes therefor, which, however, would be no great wrong or hardship, ny they could at onco take those notes to the Treasury and demand coin therefor. 'Flio second plan proposed i, the issno of o bond convertiblo at the pleasure of the holder into greenbacks. Under this plan any porson may get n bond upon the surrender of green- backs, or greenbacks on the surrender of the bond. What will be the claracter and the rate of interest ou this bord? If the bond bo simply oune redeciuable in currency, its valuo will be that of the currency and the sc- crued interest, and no more, and will not ad- vaneo tho greenbacks to par, nor steady their value a particle, If tho bond be a gold one, with interest iu gold, what will Lo its valuo? So long as the & per cout gold bonds sell at par, o bond at 8.63, or 4, or 4 1-2 per cent in- terest, will bo worth proportionately less, and the currency ean nover rise sbove the selling prico of the bond. It would be still depre. ciated, and, being deprecinted, would rewain iu circulation to the exclusion of all coin, aud to tho continued derangoment of ull eredits and commerce. It could not produce the two rosults of making greenbooks equal to par, and still keop them in circulation, for tho renson that it would bo impossible to make tho bond stand exactly at pavin gold, Ife s per cent bond vose to 1.2 or 1 per cent pre- wmium, all the greenbacks would be converted into such Louds ns fast as the brokers conld Iy their hands upon them ; and thoy could not eirculate ns monoy for the simple reagon that they would bo worth mora than gold. Yvery greenbacle would quickly dissppenr from circulntion, and remain ont of cireul. tion until some cause operated to yoduce the bond into which they were couvertible below par, and then thero would bo & general rush for {hem and gold wonld instantly disnpponr from cirenlution, becauso it would be worth mora than (he greonbaeks. 8o the perturba. tious would continue to do the country mis- chiof, because the standard of valuo would still be uncertain and fluctunting, Mr, Farwerys plan doos not remedy the avil or accomplish the end sought, It pro- poses (o votire a million o month, or twelve millions of dollars of groonbacks anuually, and anthorizes Nationnl Bank circulation to b issued without limit, and might vosnlt in enormous inflstion. No ono ean foratoll whether the increased bauk elreulation wmight not be one hundred milllons per annum, On tho other haud, there is a posaibility that it 1aight bo nothing, in which easo thore would bo a contraction of tho awronoy tathe extont of twelve millions a yenr, and # ery would bo rafsed thoreat, In the mennwhile, tho value of the curroncy wonld romain uustable, un. certain, and continually fluotuating, Agnin, tho Fanwxzn sehemo would roquire thirty-four yenrs Lo ratira tho groenbneks, which wonld Lo protracting the agony of an irrodoemable, cliangenblo curronoy at leasb tiivty-threo yenrs too lang, Tho man who carcfully studies out this problom, free of uil thoss sophistien! theories which have beon tried and failed in all other countrion, munt roach tho conclusion that the Socrotary of theI'rensury haseome nenvor {oity practienl solution than hns buon proposed by any other porson. His plan i a simplo and dircat. one, Iixadayin the futuroe aftor which tho greenbagks shall conso to ho n logal {endur for vontracts made after that date. "Ihan groonbacks will vomuin in circulntion ny now, # logal tondor in payment for all exist- iugg dobts, and will romnin a logal tender for that purpose until all those debts shall bo pnid, Al now contrnets mndo after tho dale fixed by Congress, uny tho Ath of July, 1876, will ho Lnsed on the new and pormanend basis of a coin valuation, Thero ean bo none of the objections now raised by tho debtor class 5 thoro will ho no increnso of the public debt ; tho groonbacks will romain in cirenla- tion mot ouly for uwo in the pay- mout of debls, Dbut, under tho gen- oral improvemont of {he nationnl credit rosulting fron resnmption, will gradually ad- vange in value, In order finnlly to dispose of them, il is only nocessary to authorizo tho Seevetery of the Trensury to give 8,65 or 4 por cont bonds for them. Into such a bond they would bo graduslly absorbod and rotired without changing their valuo much above what it is now, nnd during this process of ultimate extiuction they conld bo rapidly pay- ing off ull tho oxisting dobts of the people of the United Stntos without loss or distress to any one, and without wronging cither debtor or creditor n cent. As a straight line ig the shortest, why is not this simple plan of the President and Secretary the best that has yet Deen proposed? THE NATIONALILY OF THE UNITED STATES. A paper published at Utiea, N. Y., called the Observer, has made some extraordinary discoverics in politieal history, to which it calls specinl atlention’ as having a bearing upon tho Democratic doctrine of Stato sover- cignty. Theso discoveriesaro: 1. ““That the peoplo of the United States wore not always ono peoplo,” nud in support of this it cites that the Puritans wore difforent from tho Dutch of New Yorl, or the chivalry of the Cnvaliers of Virginin, the Cntholics of Mary- Inud, or the Quakers of Pennsylvania, All this is truo; but, when tho peopleof the Col- onies rovolted, they were all British subjects, spealing tho samo tongue, having the same generel laws, and the same genceral political system. As well say now that, beeauso we have scveral millions of foreign-born rosi- dents in the United States, the American people are ot oue people. The second discovery is that ‘‘tho States did exist ns separate States, were soverally in- dependent, and becnme sovernlly sovereign by the separation from Great Britain,” 'This is sheer nonsense. 'I'io Declarntion of Inde- pendenco begins with a recitation that when it becomes nocossary ‘‘ for one people” to dissolve the political bands which have con. nected thom with another, ete. It further recites that Governments derive their just powers from the consent of the governed, oud that, when auy form of government be- cores destructive of these endy, **it is the right of the peopla™ \not States) to abolish it. Among the cowplaints against King Georgo is that ho constrained Americans to bear arms ‘““ngninst their country,” not ngainst their States, Yor this and other things he was declared unfit to be ** the ruler of & freo poople,” not Stales. Finally, it decleres ** that in the namo oud by tho au- thority of the good people,” not States, it is declared ““that these United Colonies ave, and of right ought tobe, free aud independ- ent States.” The Amorican people, at the closg of tho war, wero recognized as one nn- tion, and nob wevernlly; they mado treaties 88 o nation, and not severally; they had o nationsl debt. Under tho first form of gov- ernment they had a Congross, the delegates to which were appointed by the State Legislatures; the number of delegates was mnot arbitravy, beeanse those from onch State had su equal vote; all ques- tions in Congress wera determined by o vote, the minority being bonnd by the rosult, which fact alone cxcludes the wholo iden of soverocignty in the States. Sovereign powers can only be bound by thejr own express con- sent, and not by the votos of others, 'Phis form of government proving ineflicient, it was nbolished aud the presout adopted. The Constitution upon itsfaco declares that it was “ordnined and established” by the * people of the United States,” aud not by the States, It is elnimed that two or more States for a long time refused to adopt the Constitution, und wero therefore sovereign during that in- terval, and could have remaiued oub as sep- arate sovereignties, This is untrne, Tho Constitution, when ratificd by nine States, was to go into effect, the others being exclud- ed from all voice in the Governmeut until they had alsoratiled it. I'ho third discovory is that * thisis a Gov- ernment of States, and not a National Goy- ernment”; and it is insisted that the States, nnd not the people, elect the Presidont ; that tho States, and not tho people, amend the Constitution ; that the States are represonted equally in the Seunto; three-fourths of the States moy malko a new Constitution, ete. All this is sinply an abuso of terms, Whatisa State? It is o local Government established by the people residing within ecrtain pre- seribod territorinl houndaries, What that State Government does, it does in the name aud by tho autlbority of tho peoplo in that district of territory, just ng the Mayor and Common Council of a city nct in the name aud by the authority of tho people rosiding in the city. Senators avo not selected by the Stutes, Lut by the Legislntures composed of tho inunedinte reprosentativen of the peoplo; amendments to the National Constitution are ‘uot submitted to the States, but to the Leg- islatures reprosenting directly the people, Tho people, and not the States, clect tho Prosidontinl Eleotors; no convention can bo called for the formetion of anow Constitu. tion except by the people through their rep- rosentativon in the Loglslrtures, The ¢“State,” as o political corporation, iu represented by its Govoernment, iucluding Governor, and Legiulature, and Judiclary, In no relation whatever has tho “State” auy volee in the oleotion of Senutors, Prosidentinl Eloctors, members of Congresy, ov in the amendments of iho Nationul Consiitution, ‘1heso things are all noted upon dircotly by the people, o by the peoplo through their immediate repre~ sontativos in tho Legislsture, Hiato Logis- Inturcs aro not the *'Stats™; corteinly thoy aro not * moveroigntivg" Tho qualifications of Sonators and Representatives and of Pres- identinl Eleclors ave all preseribed, not by tho “States,” but by the Coustitution. The original Constitution was not ratifled Ly the ‘*States” neling s political roveroignties or corporations, but by conventionn elected by tho peoplo for that purpose. I'ho peoplo of ench Stato aro citizons of tho United Btates, .and ennnot bo doprived or deniod tho priv- ilego Ly tho nction of any State Government. As tho ““ States” in their politicsl organiza- tion lhad nothing to do with the ratifiention of the original Constitution, which wns ratificd by the people through convontions elected by them for that purpose, and a8 tha ** States " ns politicnl Governments have nothing to do with the amendment of the Constitution, which must hiodone by the pooplo through Legislatures or conventionn elected by them for that pur- poso, the Constitution itwolf in strictly correct whon it rocites that it is ordained and estab- lished by the *people of the United States.” ‘Wa know that wo have given moro spaco to the guibbling of this Uticn paper than it merits; but just now there is astrugglo in the Democratic parly to suppress its ¢ State sovoreignty” horesy until ofter the next Presi- dentinl election, and it may not be untimely ta exposo the shallow pretenses on which it rests, A BUREAU OF COMMERCE. The Adeance of Dee, 17 priuts a vory inter- eating aud important paper from the Hou, ‘Wirrraxt Winpodr, United States Seuator from Minucsota, upon the practienbility and desir- nbility of establishing n Governmental Bu- renu of Commorca at Washington, for tho col- lection of statistics of domestic commerce, having special veferenco to the business aud property reprosented by railways, ships, and other agoncios of internal transportation, and the values of commadities nunually moved by them. At present, the senrclier for informa- tion on these topics has to gather it at gront labor, expense, aud wasta of time, from tho sintistics of Boards of T'rade, Chambers of Commerce, and trans. portation componies. To remedy this, Sen- ator Wrynoxt strongly urges the establish- ment of this Bureau, limiting the duties of such a Burenu to thoe collection of four gen- eral classes of facts: 1. Tho areas of produe- tion; quantities of goods moved to home markets; prices; demand and supply of trangportation facilities ; guantities shipped from tho United States and from all other countries to the principal foreign markets of the world; and the prico of labor, cost of transportation, ete., under which we com- pete with other countries in those mor- kots, 2. Mo collect statistics relative to the railrozds, and oll the de- tnils of construction, transportation of passongers and froight, cost of transporta- tion, rates of fraight and fares, and fluctun- tion in thoso rates, 8. The collation of re- ports from reilrond companies, expresy com- panies, and slecping-car companies, as to the detnils of their eunual business, 4. The * collection and compilation of valuablo in- formation with regard to the improvements in the facilities for trausportation on rail- ronds, and on canals, and other water routes; tho geographicnl limits of the usefulness of the various lending rontes ; and the commer- cinl conditions, burdens, and necessities of the various sections of country served by them."” "Tho nbovae comprises the saliont points of JMr. Wiypow's plan, and would con- stitute o Burean somewhat liko the Railway Depnrtment of the British Board of Trade. A bill providing for such n Burcan was ma- tured at the Inst session of Congress by the Sonnte Committee on Fransportation, and was reported by its Chairman to the Senate a few days prior to adjournment, It is now pending in that body, nud & strong effort will undoubtedly bo made to seoure its pas- sage, As to the importance of the organiza- tion of such a Buronu, there does not appear to bo any doubt, On the other hand, it would supply & vory important want, and by con- centrating theso statistics in a.department ot ‘Whashington, under some compotent and skill- ful statisticinn, the Hon, Davio A. WeLLs, for instance, it would not only supply much val- uable information, but it would save great Inbor and expense, such as aro involved in the journeys of transportation committees, Congress would have a complete and of- ficlal cyclopedia of transportation statis- tics veady at lhand, insterd of being obliged to appoint committees and sond them oll over the country at grent coct of time and money to colleot them, In this respect, there would be every advantage, There is to bo considered, on the other hand, the danger which grows out of multiplying offices, and the additional linbil. ity that the Bureau may grow into n cumber- some nud expensive institution, and set a precedont for the organization of moro Bureaus. If Senator Winpox can indicate any way in which theso dangers may be escaped, we feo no reason why his Bureau of Commereo shonld not be established at once, The reports which lave been current so long regarding the desperate condition of the nffairs of the bankrupt Freedmen's Savings Bank aro more than confirmed by the report of the Commissioners appointed to liquidate them. It wonld have boen less cruel to the dopositors had the full {ruth been told long ago, It has been apparent during the post six months that thero was no hope for the unfortunate depositors, and, notwithstanding this fact, tho truth has only been partinlly told at long intervals, tho policy of letting down easy having prevailed. ‘The negroces of {he North and South who had intrusted their little savings to the cormorants who managed the bauk have thus been kopt in a stato of alternnto hope aud despair, now expecting to reeoiva thoir money, and nagain doomed to disuppointmont ; while all the time it must liave been apparant to the Trustees that thera was no hopo for the vietims. The developments made by the Commia. sioners show that the wain canso of the col- lapse of this bank wny not the panie, but the corruptions and wishanagement of the bank offieials, Tho wssots show that tho Prosident of a Washington club-houso got &u8,600, soenred by Inw, Hownrd University hiad $75,000, and it Is not very creditable to thnt uneesy seat of loarning that the debt was seeured by collogo property of little valu, One man had 2,000 sosurod by the stock of u bankrupt mauufacturing company in Marylaud, Some of Jay Cooxe's friends got severn] thonsand dollars without giving any collatoral whatover. Distriot of Colum- bin oflcinls aud contrnctors obtained lonns amounting to several hundred thousand dollars upon collaterals which had no estima- blo value. F. A, Docksay, an adveniurer, got §0,A14 ont of the bank on u scenrity of 10,000 of tho bonds of Freaont's ghowy bubble, the Memphis & El Pnsa Railrond Company, which rovently got the latter into troublo in Parls, ‘I'bus tho list of assots reads to tho ond of the chaptor,—rackless waste, corrupt mansgement, aud wenoys loaned out without soourity, Tho nasats which wero ! without collaternl wero ns good ng those with collatoral, and neither were good for suy- thing, "Lho lnbilities of this bank and its South- ern brauclies wers almost oxelusively to ne- groes. In mout inatances the deposits ropra- sonted the acomnulated savings of tho fraed- men, earned by hard Inbor since the War, and monsy deposited to pay off incumbrances on the littlo proporty thoy hnd bowght. Al though the individual deposits woro in very small suins, their loss will involve many o dopositor in ruin, aud will ontail great dig. tress and suffering upon the thrifty and provident elnsses of the negrocs. Had the disastor to this bauk been brought sbout by the results of the panie, the: depositors would not hiave been entitled to any more sympathy than is usual in such cnses, but that the {reedmen should have been swindled out of their earnings by a deliberate system of fraud and corrnption, mado all the moro ecnsy through the credulity and ignoranco of tho vietimy, is an outrago of mora than ordinary nggravation. The highwayman who knocks you down and strips you of your valuables is rewpectablo as compared with these mon, who, having obtained the confldenco of these poor negroes, und secured their earnings by flnttering them and professing to lave n ape- cial interest in their welfare, and assuring them that in their own bank their moncy would be bottor watched and yiold them a Jarger considerntion than in ofher bauks, then proceeded to rob and plundor them in o systematic mouner, The woman Serrzeorr, in Bavaris, pursued o similar conrse Wwith roference to the earnings of the Germaon peasants nnd servants, and, having nccumulated their enrnings, approprinted them, Tho German suthorities, however, apprebended her, seized all her property, and threw her into prison, whera o is now poy- ing the pennity of her frauds, Thero is no possibility that any one connected with the management of tho Freodmen's Bank will ever bo punished, mlthough thoy richly deserve it. Morally, if mot legally, thoy aro just as erimingl as the Germnn womnn-bank. eor. ‘Thoy lave stripped workingmen of their carnings, ruined families, and broken up homes,—in many instances inflicted a cnlami. ty which may last a life-time upon their vic- tims, If thoy can ba reached in mo other way, thoy should at least be mado to feel tho public indignation, and no trust should ever be confided to them again. Equal justice would strip thom of every dollar they have, sud reduco them to tho condition of their vie- tims, THE FALLING-OFF IN EMIGRATION, The report of the Chicf of tho Burenu of Statistics contning the following table of cm- igration to this country from Germany, Aus- trin, and the Netherlouds for tho four fiscal yenars from July 1, 1870, to June 80, 1874: b (s Tho causes of this rather startling decrenso in 1874 lic on the surface, Thero is a home demand in Germauny for the heretofore sur- plus labor, The nation has suddenly become prosperous aswell as united, as we showed a few days ngo, and tho working eclasses have sbared in this prosperity. Wages havo advaneed from 25 to 83 per cent. The speculation which followed the Franco- German war las subsided within lealthy bounds, and business is safe and bas in- creased. Other canses co-operate with this. The Government discourages emigration, and has expelled o number of Americon emigration agents from the country. The people are proud of their new National Empire. It produces a seuse of strength and security ngainst invasion, and crentes contl- dence in tho futuro public stability which was nover before felt. Many reforms have been introduced into the laws, especially in rela- tion to the administration of justice and the doteotion and punishment of crime. 'Lhe weights, measures, and coinnge of tha conn. try have been unified, and tho bauking sys- tem is now boing treated in the ssmo way. The mail, telegraph, and railrond service has been greatly improved. ‘The extension of loeal self-government has partly relioved tho people from the ovils of bureaucratic rule, These things are producing contentment among the masses, and the rapid development of industry is giving tho masses the wenlth they have hitherlo been tempted to seelc in Americn. Still another pow- erful causo of the falling off in emi- gration is tho rcports sent back from this country and seattered brondeast through Germany. These are in many respects un- trug, but the Government, snd tho Govern- ment-led press, do their best to spread them. The moro highly-colored they are, tho better. The reports all tell one story,—hard {imes and seant demand for labor. The papers aro filled with dismal accounts of American’ dis- honesty, corruption, and demoralization. Again, the numerons defaleations of Ameri- cnu railronds jn the pnyment of interest on their bonds has excited n great snd e bad int fluence, The amount of such defaulted Lbonds held in Germany is snid to be $400,000,000. AMany of them have beoen recently sold for ono-qunrter of tho sum paid for them. Last summer thero were several Americau speculn- tors in Frankfort and other Germau eities who were quictly buying in theso insecurities at 15 to 25 cents on tho dollar, It was freely charged by the German press tha- these men weore the agents of. the railway mauagers, who had deliberately mado default in the payment of interest in order to artificially dopross their bonds and buy them in ot rates far below their reel value, This wreck of railrond credit, and eunggerated ac- counts of the dishonesty of some of the ear- pet-bag Governments of tho South, have pretty effectunlly destroyod, for the present at lenst, German faith in American houor, TFinelly, the return to the Fatherlaud of wany Germau emigrants has deterred thousands of their countrymen from crossing the sen. Thoy argue, justly enough, that the return of one 1unn who bas found tho * States ” n delusive Canann is & stronger argument agninst going to Americn than the departure of ten igno- rant emigrants is for it, What is true of Germany is also true, though in o loss degreo, of all Europe, Sowme or all of these causes havo checled emigrn- tion from the whols Cantinent. The sta- tinties of the four yanmn aro o follows ¢ 04,408 16,003 et eees 230450 The anly country from which emigration s ingreased, sinea 1874, is Iussin, consiat- ing of Mounonites. Tho fotal decline, as shown by this table, is 234,857, Tho real Inerenso in onr foreign population, during the year ending Juno 80, 1874, iu vory much loss thon 259,956, For re-omigvation lng taken porhups tons of thousauds from us, I'ho New York Z'ribune atated, n fow wmonths ngo, that the steamsbips were carvying ay many steornge passongors bnok to Euvope ag thoy brought to Amotica, Other Now York papors have indorsed this declaration, Some Lundreds of men have feft thin city withiu o fow monthn to roturn to their English and Gorman homes. If owr high taritt and our dobnsed currency hnve made it imponaiblo for tho poor of Europo to gain p living Lore, it in Deat, thnt they should censo coming untit both thoso evils of tarlfand curraucy re cured, But what, then, becomenof our once proud bonst that Amerion was the poorman’s heaven 7 If we roverse our policy, stop aubsidizing special intorests and speeulative wild-cat projeets, and pay our debta in lionest money, wa shall s0on regnin our old proaperity, and oneo moro offer a home to any man, howover poor, who ean and will work, THE ‘' LAISBEZ-FAIRE” DOCTRINE, "Those persous who avo opposed to fixing o date for tho resumplion of specie-pyments depend upon what s known ns the Luissezs Fuire doctrine to sustain them. ¢ Lot well. enough nlone,” they cry. “‘Let things take their nntaral course, and wo shall bo all right, Let the currency stay where it is, and specie. rosumption will come around all of itself in o short time. Tho greenback is becoming worth more and more avery day, month, and year, and, at the present rato, wo shall be Lack to specie-paymonts befora wo know it.” This is the lino of {hejr argument., Some days ago, we searched our files for fivo years back to illustrata an mrticlo on the fluctuation of the emrency, We found the prico of gold for Dee. 1 of ench yenr to be ag follows: Dee, 1, 1870, o Dec, 1, 1871 0976 Dee, 1, 187 s Dec. 1,18 03 Dac, 1, 18 iti] Wo desire to propound the follow g con undrom to the ILeissez-Faire curreney phi- losophers : How long will it require, ab this ratio, to rench specic-paymont? We find that sinco Dec. 1, 1870, the prico of gold hos incrensed o conts on the dollar. To follow out tho logical results of the Laisses-Iaire doctrine, gold wonld bo worth 12212 in twenty yonrs from now, if wo let thingsalone, and 132 12 in forty years, ‘When, then, shall we rench tho gonl of specie-rosumption, to which these gentlemen gravely toll us we are drifting ? In the meantime, whils we are awniting results manifestly impossible at this rate, wo shalt bo called upon to endure all the diva results of a fluctuating, uncortain currency, with the sudden rise and foll in prices, and the commorcial erises that this fluctuation will bring with it. Wo so that, in the last four years, taking the price of gold at the 1st of December for each yonr, gold went down 5.8 of ncent, then up 218 cents, thon down 3 1-2 conts, then up 4 cents, Between times it went backwards and forwards with thelight playfulness of a shuttle-cock, This is the Ladssez- Fatra plan for getting buck to species payment. "The simple fact of the matter is, that ang irredeomnblo u‘urreuay is an interminable thing. It hay all the indefiniteness of immor= tality. 'This is tho only quality about it that can bo misconstrued into merit; its only likes ness to goodness, But, if the orthodox peos ple are right, hell is as interminnble as lieava en, and the interminability of an irredeemas blo currency partakes rather of the formex than the Intter. Wo shall suffer financiel and commercial tortures so long na we have it, and tho only way to end them is by fixing ¢ definito period for resumptian, We think thnt an examination of the fignres given above will convinco oven the Laissez-Faire people | that they will bo counsiderably further away from specie-payment, at the present ratio, when the Archangel Gabriel blows his trumg than they are now,~aoud, even then, the cur. rency, if left slone, will be iredecmable still unstable, still changeable, aud unsteady as water. THE OLD LANDMARES AND THE NEW, “Tse parnielous doctrino promulgated by TRE Ciiz« ©oxa0 Triesr, and other Administration organs, that the Federal Governmont ia no Jonger an ngent ; that 1k 18 10 longer & Goverument of Jimited snd delegatod pawers, und that {t derives lta sutharity only from that *divinity which doth adgo s King,” has excitod 4 discussion from which wo hopo tho publia will derive Venett,—-Louistille Courisr-Journat, 1f tho discussion proceeds on thisstatement of the issue involved, we fear the public will derive no benefit therefrom, but rather injury, because it is a perverted and false presentae tion of the point in dispute, Tur Ciucaco Tripuse has never sssorted that tho Federal Government is nota * Gov- ernment of limited powers.” On the con- travy, it has aflirmed and sdmitted over and again that it is a Qovernment of limited powers, and that the limitations are pre- scribed and defined in the Constitution, Its powers are also *'delegated” to it by the people, the voters, and not by the political corporntions called *‘States,” We undor~ stand the Courier-Journal to affirm that the corporations called ** States” have conferred upon or delegated to the Fedoral Government its powers, and that it is their * ngent,” which doctrine Loz 'FrisuNE deuies aud coma bats, It the C'-J. means by tho expression that it derives its authomty ¢ ouly from that divinity which doth hedge n King,"—the American people,~then it states our idenax. notly, TE the * divinity that doth ledge o King ” consists of tho legal voters of a coun. try, then that is exnetly tho source from whence the Federal Government derives its powers, authority, aud existence, and, in our view, nowlero else. ‘The same fountain of power which creates Stato CGovernments oreated the National Government, viz,, tho American people. If tho C..J, desires to linve & controversy with Tnr TrinuNs on tho subjeot of Natioual zs. Stato Sovereignty, it mnst not begin by misroprosenting the posi- tion of W'y Trivuxe aud then drawivg er- roneous conclusions from false premises. It tho C.-/. thinks thoNational-Sovoreiguty doctrine of Tur Trinunm unsound, and its own State-Soveroignty dogma tho right posie tion, whnt is the necessity for purposely mis- conceiving the position of Tur TrmuNE ? We mprm{ueca from tho Now {’ur)x Graphio & somewhat sonsational report that a plen for tho sottlement of tho financinl questiony hog beou prepared by some persons, not nawmed, at Washiugton, 'This plan includes the ro- peal of the Legal-Tondor act, to take effect throe yonva henee; o gold loan to bo funded to redeem tho greonbacks; o gront Central Nationn! Bank to be chnvtored ; froo bauking ou # ¢oin basis, and the consolidation of the whole uationnl debt ina 4 per cont perng. nent bond. Wo publish tho statoment for what it is worth, which {4 not much, The detnil of the whole scheme is ijmmense, ro- quiring great Inbor, and, above all, the thorough education of tho country to ennblo it to bo understood, Its vahue, and its wugefulness as a whole, would dopend upon its dotailed arrangements. Wo fear it is so far-in advanco of the owdinary notions of members of Congress as to moet with little considoration and less favor, Wehavo no doubt, howaver, that in