Chicago Daily Tribune Newspaper, January 4, 1875, Page 4

THE CHICAGO DAILY TRIBUNE: MONDAY, JANUARY ¢4, TERMS OF THE TRIBUNE. RATEA OF 2UN TI0N (PAYABLE IN ADVANCE). oni Postago 8300 Pl g ity Fartaof 6 year at tl To prevent delsy and mistakrs, bo rure amd give Post. Ofion address In fall, Inclndtug ¥tate and County, Remittances may bemads eithor by draft, cxpress. Post- Oftico order, or in registerrd lotter, TERMA TO CITY KUNACTIBERA. Baity, delivered, Sunday excepied, 273 conta perweek Dasly, delivered, Sunday included, () cents por wosk Address THE TRIBUNE COMPANY, hicago, i —————s ' TODAY'S AMUSEMENTS. GRAND_ OPERA-HUUSE-Clatk wreet, opppsita Bhormean House, Kolly & Leon's Mimtrela, ‘‘la Poult Fauat,” HOOLEY'S THRA dolnh street, between TRE-~F1 Olark and LaSulle. **Lost in Londog." MUSEUM-Manran efreet, batwoon Doar- boaed St T TR Dot Wedding. ™ ADRMY OF MUSIC— Halated strset, hetwaan Mad- m“i:l:na Munros. Kngagement of Mias Glara Sforris. fron, sud, 2 3 i trecr, ot MUVICRER'S THEATRE-Mudisen strecs, botnren Poarbe i Rintn, RopanaTesBive shiiings. SOCIETY MEETINGS. ATTENTION 811 RRIGH Sulengo, GO Sle Ra e, Sy ocdlor of the 11, G- 0. Au he UL Ly INDEX TO ADVERTISEMENTS. {—Regular oonolsve of b <hueraninly TaEL: ALITASIS, Raoordor, - THIRD PAGE-City, Euburkan, and Countrs Real R hy .y L. ERVENA “}‘A(‘h:“i‘i':m'i:mnugfuek‘n’:.mufi Heets B3 5 icean Steameniun Tailro A Paiie, Ldasstionsl, Dissolntton. Notioos, Medical Qards, cte.s eta, The Chicags Tribune, 1876, Monday Morning, Jonuary 4, THE TRIEUNE'S ANNUAL REVIEW, 1a consequeuca of the uneramplod demand for Tax Tamexs's sdmiratle Annual Roview of tho Trado aud Oommerce of Chicago for 1874, o bavo printed sn- ottier large edition, which con Lo ottainea st the counting.room to-day in singio wrappers resdy for walling, Mr. J. G. Scuraxzn has dissppeared. Thoy say that his wife, who ix in Europe, has ‘been taken suddenly il}, and that ho is o very tender husband. The Democratic members of the ouse are getting very tired of the Pacific Mail investi- gotion. They never thought, when they were £0 Lot in pushing tho matter, that guilt would first bo brought home to o Democratic Con. gressman. Tas Governor of Dakota has vetoed a bill, designed to repenl certain railroad-aid grants made by townships in that Territory. Tho Governor is a plain.spoken, God-fearing man, and he cannot see, for the lifo of him, in what respect sach a bill differs from nn act to authorize robbery. Tho now Finauce bill is likely to pass tho House next week without wmuch trouble, though some of the New England mombers will fight it to the last, It comes up astho epecial order on Jan. 7. A Republican cau- ous ia called for Wednesday next for tha pur- pose of maturing some lino of action on the bill, Iawoy ne much as says that Roaom is n per- fidious knave. The books of tho Pacitla Mail Company, Inwry says, ought to show that Roacu's contracts for the new ships wero mnde conditional upon the passage of the subaidy bill. Now, if it should prove to be the caso that Roscm also is capablo of such things, where avo the people going to look for unadulterated patriotism ? It haa elways oppeared heretoforo that Roacm built thosa ships because ho loved hia country. Mr, Wnznx S, Kmvo, member of Con. gress-elect from Minnesota, is missing. His friends are anxions about him. He was known to have i his possesaion at tho time he wos last seen a large sum of money, which he realized from prudent investments in Pacifio Mail stock, Mr, Kiva is tho only ‘oneof his own friends who has not come forward to nttest his jnnocenco of the alan- derous charges mado by the mnewspaper pross concerning his conmection with Inwn's bribery-fund, Tho Associnted Press agonis at the South have not heretofore been distinguished for strict impartiality in their reports of political alfairs; even tho testimony before the Con- gressional Investigntion Committees has been cofl:rad, in a greater or loss degreo, to snit pertisan purposes. It is plonsant, therefore, to notico this morning a slight attempt to retricve and atono for past er- rors, Curiously enough, the agent at Vicks- burg and tho one at New Orleans have bebn overtaken by romorse ot the samo time; and both sond portions of the testimony ex- tremely favorable to tho Bouthern Repub. licans, which were takon by the Congression- al Committees Saturday and omitted from the report for that day. The truth about the Bouthern Ropublicans is doubtloss bad enough ; and tho truth about the Bouthern Democrats is & good deal worse than any- thing tho press agents have beon acoustomed to sond North, —————— The leadem of tho ** Peoplo's Party inthis «aity have been holding a private special con- ferenco with a view to future organization and retention of spoils. The occasion for the title ** People's Party ™ has passed away, wad the approuch of the Presidential came.. poign indicates the pecessity of a wider gnd ‘broader organization, Hence DaN O'Harma, Hzamve, and Judge TroMuury, and the lesser lights are taking the preliminary steps to .organize the opposition under the common name of the ¢ Democratio party,” This or- gaunization is to begin at Springfeld, among the members of the Legislature, and is to in- cludo 83 many Indepondents, Farmers, and Grongers as possible, Itis then to be ex- tended to the various counties, The work, Liowever, is to begin in Chicago, where the benner of the ¢ People™ is to bo hauled down and that of the Democraoy run np in {te place. We knew it would come to this woner or later, and that the mask would have to be dropped. The name of Peoplo's Party wes wmercly a not cast by Democratio leadera with which to catch Republican fish tound in shallow waters. e e The Chicago produce markets were mod- eratoly sctive on Saturday, but chiefly in wet- tlements. Mess pork was in fair demand, and 205 por brl bigher, cloaing at $18,05@19.00 cash, and $10.80 seller February, Lard was firm, and 7 100 per 100 tbs higher, clos. ing at $18.12 1.2@18.15 cash, and 313.97 1.2 @18.40 seller February, Meats were more sctive, aud 1-80 per b higher, at 6 3.40 for shoulders, ® 5-66 for short ribs, and 100 for short cloar, Dressed hoga wers moro active and stronger, at 88.00§8.25 per 100 la, liighwines wers {usotive sud nominelly casler ot 95@90c per gallon. Flour was dull and Whent was more nctive at Thursday's prices, closing at 90 I-ic cash, Corn was quict and 1-4@t-2¢ higher, closing at 66 1.8e cash Oats wero moro active and n shade firmor, closing at Gie asked Ry was quiet and ensjer at 98e. Barley wea dull and 1-2@10 lower, closing at $1,23 1.2 cash, and unchanged. and 92q asked for Febrnary, (uew), aud 71 1-2¢ for May, for cash, and 53 1-8¢ for February, 21.25 for Febmary, Live hings were active, and 10@15e per 100 Ibs higher, at $6.85@ @7.10, Cattle wers quict nnd unchanged. THE PUBLIC DEBT OTATEMENT. The January debt statement shows that the Government revenues ran behind the ex- month of Decembor, swhich has reduced the total de- crense in the public debt for the six months ¢ in the penditures 3,650,967 of tho current fiscal yenr to 489,039, Though thin is & very material falling-off, it could not have been unexpected, Itis, asa matler of courso, the dircct result of a de- clibe in revenue; and this decline is the direct result of hard times. came, something more than a year ago, peo- ple began to retrench both in their business and in their family expenditures, 'This re- trenchment slowly but surely affects the revenues of the Government, mnainly in the It can only be decline of custome’ duties. mot in one of two ways, either (1) by in- cronsed taxation, or (2) by reducing ex- penses, The sccond of these methods—reduncing expenses—is tho truo remedy. The first is an exercise of an exclusive power twhich could not be brought into play by a private person, Lis income is falling off and his debts in. cvensing, his only recourse is in the reduction of his expenses. customers. This is the rule the Government ought to apply in a similar case. It is not s though we were experimenting in the mat- ter. Wo know that the number and amount of taxes now levied aro sufficient in good times to produce a grent surplus ; if they fall short in bad times, the shrinkage in the business of the country must be mct by a shrinkage in tho expeuses of the Government. As the deficit is brought shout indirectly by individual retrenchment, it must be met by public economy, If this principle had been recognized os fully and a8 early by the vari- ous Government dopartments as it was by wise and judicious business men, there would Dot have been an increnso in the puablic debt of threo and a half millions in a single month, There aro only two of the general Ex- centive Departments in which economy and projects for retrenchment have been in- augurated on o soale commensurate with the necessitics of the case, These are the Treasury and Post-Ofiico Departments, Mr. Diristow began his offcinl career by eutting dovm expenses, and there ig renson to believe that he will continuo in this direction. Post- mnster-General JEwsLy hos announced that he will be able to reduce tho expenses of his Depurtment from $3,000,000 to 24,000,000 a yenr, and hes practieal projects for realizing thig expectation. But wo do not hear similar reports from the War Department, nor the Navy, nor the Interior, all of which (and particularly tho lnst) might contribute oqually with the Treasury and tho Post-Ofiice Depert. ments to the general plan of retrenchment. In tho army, the cuiting process should: begin above the rank and fle. In tho Navy, tho incressed expenditures ordered ot tho time of the Virginius complication should be stopped whero they are. In tho Interior, especiil attention should be directed to the Indicn contraci. system. Everywhere there shoald bo ths same effort 8t economy which o district indi- vidual would cxercise uvder the samo condi- tions, A Thers is but one thing that might ba done in the way of increasing toxation, and that is to restore the duties on ten and coffes. 'The low duties which existed before the repeal— 3 cents on coffee and 15 cents on ten—would yield o rovenue of about $12,000,000 a year, They ought to be restored, not on nccount of the present deficieney, but because they ore duties for revenue purely and ought never to have been taken off. 'The smount which they would yield to the Government should ‘e turned aver to the Sinking Fund, in order to keop good the pledges berctoforo made, thus leaving the deficit in the revenue to be offiet by tho reduction in expenses. In soma respects, the lato inerense in the public debt will be of benefit to tha country. The vost amount of surplus which has been dovoted to decrensing the public debt within tho last few years has encouraged extrava- gance in all the branchies of the Government, ond indicated a prosperity which was falln- cious enough to betray tho peoplo into an overweening confldenco, If a temporary sus- pension in the rapid progress we wero making toward extinguishing tho public debt shall bring people back to their senses, and induce the various Departments of the public service to reduce their expenses to tho standard of privata business prudence, the temporary in- creaso of debt will be of more service than bnrm to the country. CREDIT MOBILIER—PACIFIO MAIL, In the winter of 1878, & Congressional Com- mitteo of Investigation unearthed the moat startling froud that had ever been practiced on the American people, which, under tho name of * Credit Mobilier,” robbed the pub- Ho of untold millions, Ho bese waa this froud that we know of but one public man who had the lardihood to defend it. That man was Marrnew H, CineenTER, now a candidate for re-sloction to the United Btates Senate. Called to account for his delinquen- ay by his constituents in Rock County on tho 20th Juno, 1878, ho delivered a speech at Janesville wherein he dofouded in the brond. eat terms the salary-grab and Credit-Mobilier corruption, In speaking of the last be said ; X kmnw of mothing more likely to excite mirth thsn tho Orodit-Sobilier inveatigation, . o . Now, if it ‘will not maka your blood run cold and your Lair stand ouond, Iwill tell you just what the Crodit Mobiller was, aud sbow you that t hak nover taken one dolist from the Treasury, uor defrauded the Government of one cent, ond that the panio which Las tbrown Afty millions of peapla into convulstons fx all sbout noth- sogatell, . . . Jutyonsak, Did mot the Credit Moblier cheat the Rallroud Company? I snswer, I don’t know, and I dou't care, If the Railroad Company haa any complaint sgalost he Credit Aobider, let 1t make its complaint sd sesk its remedy, Tho Govern- ment has no cause of complaint against the Oredit Mobliler, bocauso the Governmant never had anythlog 10 do with that corpasation, damned by its mysterious nome, But it Mr. Canrewren &id not care if tha railroad was robbed, the people of the United Btates, who hold a second mortgagoe on tie road for 64,000,000, do cara very much ebout it, o8 this Ovedit-Mobiller yobbery renders it pretty certain that tho Government will sus. tain n totel Joes of ity advances, But damning as wwi this Crodit-Mobiller robbery, ¢ reccut one has Leen hyonght to the swineo which, it less in magnitade, prowisss to La more ditiiling to the puticipants then to ihoss who Werd involved in the Cradit-Mo-. “bilier Luiquikye Tho zocent oxpusure of tho ‘When the panic When tho business man finds that Ho cannot lovy taxes on-his meang whereby a 5,000,000 subsidy was procured Ly the Pacifio Mail Company has, if possible, shacked tho country mora than the Credit-Mobilier exposure. To secure that subsidy it is shown that a very large stm of money was exponded,—now known to exeerd £1,000,000, Of this money, & 0U has heen traced to the hands of the Jfon. J. (. Scnvmarer, Demovratic member of Congress from New York, and $115,000 to the Hon. WiLntay 8. Kiya, of Minuosota, who at the time was Postmaster of the House of Repre- sentatives. A8 yot we have seen no apology for Krva in any Hepublican newspaper except the Mil- wankeo Sentinel, which is Senator CAnrrye '’s organ. On Thursday Inst that Senator returned to his home in Milwaukee, sud on tho following morning, by o singulur coin- cidence, his organ contained tho following parngraph : An effurt fs being raade hy somo newspapers (o cou- neet the Hon, W, §, Kixe, of Minacsots, with corrupt practices u connection with tho Paciie Man, Thl effort bas simply no foundaticn whatever in truth. Tho facts Aro these : Thero war a bitl pending fn Con- groas Lo giva an_ increated subeldy to the Pacifie Mail Stesmship Company, 3fr, King, who was only Post- master, snd not & member of tho Mouse, bad con. fidence that tho bill would pass. e went to New York and comniunicated this aesurance to partios thora, A pool wag organized, aud u large amount of the siock wag bouglt, Upon the prssage of the bill s consideratle Adyanco was realized, and it was Lilg slaro of thls spece utation that was pald to him in tho manner detailod foro tho Ways and Means Committee, The trausac. tion was purely & business mattor, snd one to which Do talut of corruptivn attaches 'I'he language of this item and the political morality it discloses can leave little doubt of ita suthorship. But the statementis decep- tive. Mr. Kixo could not have made £115,- 000 by stock-gambling in a Pacific Mail pool, as psserted by Senator CamrrNTER'S mouth- pieco. The St. Paul Press, the leading Repub- lican paper in Minnesotn, has the following to show that there was no rise in * Pacific Mail” upon the pasaage of the bill : Tito Pacific Mall Bubaldy bill scoms to have passed on Muy 27, 1872, We any aeens, because uflera care- ful inspection of the Congressional Globs wo find that tho report of tho Conference Committeo was agreed to in the House on that dey ; but can'tind no record of any uctlon upon it in the Senate, -1t wan, howorer, ap- proved onJung 1, 1872, Mr, Kixe prescuted Mr, Is. Wwix's cheek o¢ tho American Exchange Bauk on May 2, Inview of tho thoory that Mr. Kiva made bin money out of tho riso in Paclfe Mall stock, conscquent ou the passage of the Lill, our attentlon hus been called 1o the folluwing quotations of Pacific Mail stock : 25 710 3oy 15 tho quotations roso from 73 to 81, und_fluctunted between B3and 85 till May 20, after which, apparently in view of tho certainty that 'tho subsidy would pass, the stock underwent a gradual datly decline a8 abovo noted, foaching €8 on June 19, Tho probable explanation {s, that the Subsidy was based on onerous requirements—Involving vory hoavy expenditures—such oa several izon stcamships of 4,000 tous burden, NEW BENATORS. With tho assembling of State Lepisiatures this weel, a largo share of cnrrent political interest will centre in elections to be made for the United States Senate. The terms of twenty-five Senators expire on the 8d of March, and elections have been or are to be 'made for the suceeeding term ns follows: Terma erpire For the succeeding Jarch 3, 1873, term, State, Caiffornis Newron Boorit, Wilsiam W, Eaton, W'm. Pinckney Whyte. Dranch K. Bruce, e, ilen G. Thurman, amuet B. Mazev, [Georgo F. Edmunds. Hobert B, Wathere, Termm oxpive ; Nepublicans (in Homan), 17; Demo- crate (in walic), 65 Indepondents (i 4MALL 0APs), 8 If elections shall bo made without devia. tion from party lines, the Democrats will gnin Senators in Floride, Indiana, Missouri, New York, Ponnsylvania, 'Tennesses, and ‘West Virginin; and the class of now Senators will be 14 Democrats, 10 Republicans, and 1 (Boorn, of Californin,) Independent. But thero are rumors that the Democrats in Flor- ida will trado their Senatorship for the State Governorship ; and in two or three Republic~ st Legislatures tho majority is so small, and tho persounl controversy £o intense, thot it would be premature to prediet the result. In any event, however, the Senato is to romain Republican daring President Grant's term by virtue of a preponderance of Republican Sen- ators holding over. The class whoso torms expiro in 1877 are 15 Republicans and 10 Democrats; and thoso whosa terms expire in 1879 are 18 tepublicans, 5 Démocrats, and 1 seat (Pivcrvack's) in dispute. The Senato. rial elections (class of 1881) most clearly in- dicated are: Delaware, Tnomas F, Bavanp; Indinna, Josren E, MeDoxarn; Missourl, Jonx 8. Prevrs ; Nebraska, Jomy I, Taven; Neva. da, Wirray Saarox ; New Jersey, THRoDORE F. Ranoorrn ; Noew York, FraNcis KzaNay ; Pennsylvania, Wirriam A. Waruace ; West Virginia, Hevny 8, Wauren, In Maine, Michigan, Minnesota, and Wisconsin, thero- eloction of Benators Hamrry, OmANDLER, Raunazy, and CaneeNTeR i8 hotly fought in. side the Ropublican party, and in thessStates, ns in Massachusstts aleo, the whole situation Qepends on whether the Republicans will agree to fight it out in caucus and to abide by tho rosults thereof. In Teunesseo thero s a controversy of some bitterness, involvinga list of Benatorial aspirants only limited by the number of available Democrats in the State, ‘The contests among aspiring Democrats in Indiana, Ponasylvanis, Wost Virginia, and New Jerssy have also deveoloped Dbitter personalities, although the results in these Btates would appenr to be indicated as givon above. In Missouri all is quiet ; itis to be s Bourbon Democrat in the place of Oasr Bcausz, and if it bo not Joux 8. Pmerrs, & earpet knight, then Gon. Frang Coosgiry, ‘o gollant soldier of the Confederaoy,” is the man, One feature not to be averlooked {s that of the new olnss of Benators at least twerty will be new men, The Senate has not, for mauy years, undergone so docided a change in its roll of mewbers (politica aside) a8 is now about to cce.r, The lenders of the so-callod “ Pecple's Party ” in thie city are in scarch of a new name, Wa are glad of it. Their reason for the proposed clhange is probably because they foel that, under tho present name, they hove forfeited the confidence of the publie. ‘Lho reason that we are glad of the proposed change is, that the presont nanie under which the Denioeratic rings are operating {8 a mero delusion and & snaro, which has practiced a decoption upon the people long enough, It has been a cover for irrceponsibility, An office-lolder under the auspices of the * Peo- ple's Party * cannot be Leld scoountabls, as would ba the Democratio party, He is aim. 1875. ply the momber of a temporary organi- zation which, lhaving' no publie repu- totion, responsibility, vespectability, or definite recoguition, i« wutterly care- loss of what its members do. Now there are only two politieal parties in the country, —the Republican party and the Demoeerntic paity. I the managers of the so-called *People’s Purty " are disposed (o act fairly toward the publie, they will adopt the namo of Democrat, Hero is where they belong, whero they find the great bulk of their voting material, and thoir natural aflinitios, Tho public will then know where to plucs their oftice-holders, and will have a responaible party organizetion to hold to aceount for the stealing and jobbery which are now going on day aud night. There will no longerbo a deception toinduce Republicansto eloct Dem- ocrats to oftice under tha title of * Peoplo's- Party " moen. It {8 timo for this organization to show its true colors, and it will be a breach of faith to adopt any name but that of Dem- ocrats, USURY LAWS. Every cffort to repeal the wsury Iaws of [ New York State, which are confessedly the most barbarous enforced by apy Christinn community, has failed through the opposition of the farmers of the State. They cling, ns the agricultural class gonerally has dono, with singular tenacity to theso medimval devicos to protect borrowers, who cgn best protect themselves, and who are demonstrably in- jured by this interferenco in their bebalf, The attempt to abrogato theso laws is to Lo renewed in the coming session of tho Now York Legislature, and, in the opinion of observers on the ground, with more prospect of succass than heretofore. It is not strango that the ngitation should Do renewed annually, for New York gocs be- yond ewen the Mahommedan law, rnd, in ad- dition to the forfeituro of principal and in. terest, makes the usurer linble to imprison. ment. Tho vitality of usury laws is one of tho most singular chapters in the Listory of human attachment to delusion. It is nearly two centuries sinee tho nbsurdity of theso en- nctments was shown by Jonx Locgs, and fifty yeors since Bextmaw’s celebrated ** Defonse of Usury " closed the argument. Usury laws have been extinct in Great Britain for twenty yeors, having been ropealed in 1854, Still they nro adhered by o large mnjority of the States of the Union, nnd Georgin, which two yoars ago abolished all restrictions on inter~ est, is now the ecene of a renctionary agita- tion for their re.enactment, Tho following table shows how tha laws of tho States stand on this subject : Forfeitura of all interest—Alabama, _Connectfcut, District of Columbia, Fiorida, Illiuois, Kousas, Ken- tucky, Loufalaus, Mussourl, Nobraska, Now Jersey, North Carolina, Rhode Islund, South Cazolina, Tennes: 8oe, Wisconsin, Forgeiture of interest in exeess of legal rate—Dnko- ta, Indiana, Towa, Malne, Maryland, Michigan, Ohio, Penn: uin, Yermont, West Yirginia, corfeiture of ail rights under tha contract—Arkansas, Delaware, New York, Virginia, B rgal reatrist ona—Californls, Colorado, Massachn. settn, Mississipyd, Novada, Now Moxico, Oregon, Tex= us, Utan, Ocorgis, It will be seen upon esamination of this table that tho States in which the usury laws have the wenkest hold are mainly Western States. It is tho old communities, in which new ideas heva less rogord, that adhero most closely to the antiquated penaltics. Mas- sachusetts is an honoralle exception to this statoment. - ‘The abolition” of the usury laws in Grent Britain required thirty-five years of agitation, It-in satisfactory to noto that all the ngitation in this country tends undoviatingly in the di- ractionthat good sense, and political economy, which is nothing but industrial good-sense gen- cralized, long since pointodout as the trueway, Itisanfo to prodict the ultimatedisnppearance of restrictions onintorest and au untrammeled era of free trade in money, In Turope, out- side of England, the diversity in the usury laws is ns great s between the United States, Spain and Austria enforco pennltics almost nsecvora a8 Now York, France, Norway, Sweden, and Denmark confiseate the excessof intercst over tho legal rate, In England alone, is money-lending free, CAPT, EBZR B. WARD, The firat death trangwitted by telegraph for the New Year is that of Capt. Epea B. Wagp, the well-known manufacturer and iron-master, who fell derd in the strects of Detroit on Saturday last, of napoplexy. Capt. WARD was one of tho fow business men who have commonced at tho rudest beginnings aod medo & nationnl reputa- tion, He was born in Canada, on Dec, 25, 1811, during a visit of lis paronts to that country, who lived in Vermont until 1817, oand come to Michigan in 1821, In his 12th yoar he-went ns cnbin boy on a schooner making trips from Detroit to Mackinao, and two years after was employed by his uncle, Saxors Wirp, a ship-builder at Marine Oity, who subsequently gave him an interest in the Dusiness. In 1850 ke wont to Dotroit, whers he engaged in the shipping business, in which he continued until large industrial entorprises engnged his attention and brought him prominently bofore the country,—o prominent, in fact, that if Anonew Jomnsox had been removed and Mr. Wipr been mada President, s he would havo been in that emergency, Mr. Warp would have been made Becrotary of the Treasury, s it wns Wane's purpose to appoint him, In tho quarter of a contury which has intervoned since he identi. fled himself withtho shipping business he has organized and conducted with wonderful succesa s great number of important onter- priscs, e commenced by setting tho tot- toring Euroka Iron Company of Dotroit upon {ts foet, and, making this the starting point, he followed it up by establishing extensive iron-works in Chicago and {Milwaukes, He purchased mines in Wisconsin and in the Lake Suporior reglon, erected blast farnaces at Wyandotte, Leeland, Tolede, and Chicago, and, to carry out his purposes more exten. sively, purchased great tracta of land for charoonl, slso pine londs, lumber mills, and galt wells, Ho not only operated in iron, but also in silver, and, when the silver discoveries woro made on the north ghore of Lake Buperior,. & fow years sgo, purchased tho ontiro Silver Talot, set tho mine in ‘operation, znd cstablished silver-smelting works at Wyandotte, Ho also made large in. vestinents in silver mines in Utah, which was one of his few onterprises that proved unre. munerative. o also bought an immense property near Bt. Louis, which waa available for glass manufacturo, aud organized there the American Plato-(nss Works. In railrond enterprises, he wos President of the Flint & Poro Marquotte Road, a Director in the Detroit & Milwaukee Road, and also financial manager of the Burlington & Southwestern Road. It was in iron and steel entorprises, howaever, that he was best known, aud of this gyeat domain he was king. The most remarkable characteristio of Capt. Wasp was his wonderful busincss abil. ity and his capacity for organizing industrial euterprisos. Probably no other buginess man in this country, during the past quarter of a century, hes shown thess qualitios to such a remiorkable extent. His clearneas of judgment nud wonderful executive power, which enabled him to grasp overy detail of his business operations, were such {hat he rarely winwed his enleulations, In his man. agement of au iron or steel mill or a furnace, e lnid out the detnils with sueh caro (hat ha seldom made a mistake in its building and aperation, or in finding © maket for ifs pro- duets, It was owing to this control of his Iusiness, and the knowledgo of whit ho was doing, that the panie, which pros- teated the dton business more completely perhaps than any other business in the coun- try, affected him less than auy othor iron- master. Hin capacity in this rospect way all the mora remarkable from the fact that ho wis operating at the sawe time half a dozen Inrge ivon and steel establishments and ex- tensive glass and silver interests, 1lis kpe- cialty, however, was in iron and steel, and hig poliey was to multiply nud onlarge theso establishments, and in doing this ho always secured suecess where Buccoss wns possible. As n politieal oconomist, Capt. Warp wng a high-taviff man, and the panio rondered him an inflationist of tho most exaggerated char- ncter, During the past fow yenrs, in fact, he has made the hightarif policy his hobby, and bas pushed and ndvoeated it with all the pertinncity aud vigor of whichlio was eapable, his idea of his iuterests being to increase the toriff and sell on the rising war- ket ag tho only ‘way of eseape frotu the press- ure brought about by the ponic. Ono of the Iast nets of his lifo wag the preparntion of an open lotter to the President in which ho ndvo- ented, as the surest plan of restoring * good times"” in business (to E. B. Waup), an in- creass of the tariff every thirty or sixty days, and watering tho greenbacks overy time the tarif wag incrensed. As ho ineremse of tho tarilf would add fo tho prico of goods on hand, and the increase of greenbacks would mdke their value more and more un- certain, peoplo would keep them moving a8 lively as if they were handling hot coals, and wo should have * flush times.” After realiz. ing upon his stock on hend, then another shove upwards could bo made, and thus money and stocks would be kept kiting until the formor exploded like sn over-inflated Dalloon, snd the people revolted ageinst the oxcessive cost of protectod goods, and broke the monstrous dutics down, But ot the time the inflation of the cur- roncy ond increase of the tarilf was stopped, Capt. Wanp would have unlonded limself and been in first-class trim to meot the inevitable erash, In the direction of tar- iffs and inflation ho was wild and reckless, and he pursued his theories in & personal way which might have saved bimself but brought roin terrible upon tho country, and prostrated all consumers in the dust. In these respeets he will have fow admirers or followers, but so far as success in tho organi- zation of great industrinl enterprisos, inti- mate knowledge of their dotails, and enor- getic application are concerned, ho stood al- most without an oqual. In his death, the iron and steel industries of this country have lost their moster-spirit and tho curroncy-in- flationists their strongest advocato. THE CITY CBARTER, Tho conference between the Citizens' Asso- ciation nnd the members-eleot to the Logisla- ture, held on Saturday, was by no' means final inits results. The spirit shown was, howover, very desirable, There was o striking unanimity on the two points: 1, That our ex- isting city charter is altogether incfficiont for the government of & city like Chicago; and 2, That the present general act of incorporation, while better than tho old ono in some re- speots, needed radical amendnionts to meet the wants of the eity, Whilo everybody ngreed on these points, there was a wide diversity of opinion ag to what amendmenty ought to bo mado and what amendments the Legislature would be willing to make, The difficulty of framing a general charter, applicablo alike to all cities in the State, is o serious one ; no less than fifty-five * cities” and 116 * towns" have alrendy organized under tho general law, and to amend that law is to. amend tho charters of all those ploces. ‘The amendments especially nceded in Ohicago aro not such as are desired in the smaller or rural cities and towns. One great reform needed hero is to strengthen tho Executive power of the City Government. Tha Mayor of Chicago has scarcely any nuthority, and ia officially almost a nonentity, when, in fact, he should bo made the responsible head of the Government, and clothed with proper powers to direct and control all the subordi- nate branches, In a city like this, whero the toxea levied by the Common Council are double those levied by the Legislature for the whole State; whore tho means and op- portunities for fraud aud corruption aro ten. fold greater than in tho State Government, the Mayor ought to have tho power to voto any itoms of appropriations without defont~ ing the whole appropriation bill. At present, ten Aldermen may, atthe last hour of an appropriation ordinance, dictate to the thirty other Aldermen and the Mayor what appro- priations shall bo made. Whatever they de. mend must be granted, or' the whole City Government be brought to a stand.still, Another amendment, suggested by Mr, TuLzy, I8 to the following effect : At may bo Leought by any taz-payer {n tio nema and for tho beneft of the city or village, sgsinit any person or corporation, {0 Trocover auy mongy or raperty belonging to tho city or villags, or foF “hich may havo beon pald, expeided, or lsaved without wuthority of law, provided thit su tu-gnnr aball file & bonil for all costa, Lo bs approved Ly the cierk of t ourt iu which tho suit i Lrought, 2ud fio aball bo Lisblo for all costs in caso tha ity oF in th nd judgment xgainah be rendored sccordiugly, Any tax- injunction ‘sgalnst the logs! #alo, tranefer, dlsposal of, Ut Acceptalice of Any elly property, rovent the misuppropriation or , OF to ‘wropgful payment of city moneys, or to provent illogal oo of u?ymfl on the comatruciion of raliroud i streots, alleys, highways, or publio grounds of the city, 20d ulso may nufntain & suli u bis Own usma to cauke the removal of upuuthorised fullrosd tracks, or other gbarucions froai aay sach Mook wley, G pulllo ghwvay, When it {s remembered that nine-tenths of the provisions of tlo Constitution of Illinois aro designed to protect tho people against the corruption end oppression of tho Logista- ture and the Btate officers, nnd that those restraints and restrictions have been suggost- ed by the experience of the past, it will be apparent that thero should Lo some protec. tion to the public against the jrresponsible or corrupt aotion of a Common Council, whosa powers to tax and whose powers to expend ara greater than oven that of the Legislaturo of the Btate, and who do actually expend sn- nually one-fourth of all the taxes raised in all the Stato of [linois for all purposes by Btato, county, city, and ‘town authorities, A Govgrnment of this mognitude, greater in o finevclal way than a large pro- portion of the States of the Union, is com. mitted to the irresponsible and unrestrained disoretion of a Board of Aldermen, nomi. unated, the majority of them, in the manner in which Aldermen are generally nominated in large cities, viz: by the bummers and criminal clases. The people of Illinois, with great propriety, took especial pains to protact themselvea froin the reaklossness and posaible gorruption of » Btate Logllaturo, potism all tho same, but the peeple of thia city, wlose publie eox. penditures aro so much groater than those of the State, nre wholly munprotected. 'Tho amendment wo havo quoted, if made the law of the State, would give {he public the right of redress in the courts agninat any misgov- ertment ot corrupt nbase of government, The existenco of sach a remedy woukl operate ns o henlthy restraint npon the now irresponsiblo nuthority which rales tho city. 1t would deter many d thievikh act, nnd on- able the tas-payers to bring to disgraco snd punishment many a thieving ofileial. OUR BPANISH RELATIONS, The United States (lovernment will now he ealled upon to recognizo tho new Bpanish monarchy. Tho motto should bo to make hinste slowly, We rushed in whon the Spnau- inrds announced that thoy lind established a Ttepublie. 'Tho telograph had hardly brought tho news before n diplomatic diupatch was sent to Minister SicrLES to recognize the new Republic (?). Mr, Sunyen made an earnest rud cloquent appenl that' the ** struggling Republic,” as he called it, should be taken to our bosom. Congressional potriotism was fired, sud we came very near making our selves ridiculous by our premature and pro- cipitate recoguition of an insocure, temporary Goyernmont which was Republican only in name. Tho folly of our hasty action at that time lhas been repeatedly demonstrated by subsequont events. Wo should, at tho very lenst, spare ourselves a repotition of it. With reference to the present Government in Spain, there is no such temptation, and thero can bo mo excuse for ruch ill-judged haste, Tho simple fact that the now Gov- ernment is monarchical in form and despotic in netion would not justify any undue delay ; for it is reelly n matter of very little moment to the United States whether Spain is called n monarchy or republic; it would be a des- But there are other circamstanees which warrant o careful and cautious exsmination of the new Goverment before any formal recognition is given to it. In the first place, thero is no telling whether the Arrmoysz dynasty may not be replaced shortly by some other. In the next place it is & Government natarally hostilo to tho United States and their interests. It isnn ultramontane, pro-slavery despotism, All ita sympathics and tendencies are distinetly opposed to those of tho United States, It has oveh been stated that Isaperra’s son hos been called to the throne partly becnuso it was believed he could batter unite the various oloments of Spain in opposition to tho United States Govern- ment, ‘There will never be a more favorable time for the revision of our relations with Spain than the present chango of Government. If other nations seo fit to tactitly approve of the perpetration of human slavery in Cubn under Spanish auspices, it is not the prov- inco of our Government to enter sn indi vidual protest. But there are cortain matters in which our national dignity and national prosperity demand an interferonce, . We should insist upon & prompt settlement and full eatisfaction for the outrage put upon the American flag and the slaughter of Amer- ican citizens in the Virginius sffair, After this hag been accorded, o demand should bo made upon the Spanish Governmeat to ro- peal its discriminating export aud import duties sgainst American produce sud in- dustry in Oubs, which necessitates our pay- ing §70,000,000 a year in gold to make up the difference between what wo buy from the island and what wo sell it. It will bo time enough to recognize the new Government and resums formal rolations when wa shall bave s trustworthy sssurance that these mat- ters will be sdjusted on a foir and reasonablo bosis. No sympathetio nor sentimental rea- sons can now boe cited why we shall commit ourselves before justice has been done us or nasgured to us. e BOSTON AND COHICAGO. The Boston (lobs of tha 1et inst, prints the dotails of a proposed gigantic enterprise in- tended to bring Boston and Chicago into closer and more intimate communication, to develop the business intercsts of New En- gland moro thoroughly, and to secure to Bos- ton a fairer shara of the transportation of Western products, The enterprise hns been insugurnted by the Massachusotts Transporta- tion League, and has taken the shape of a bill, which will be presentod at the forthcom- ing session of the Logislature, for the incos- poration of the Boston & Ohicago Railway Trust Company. Tho bill is so drafted that tho peopls will lhove a direct voico in the arrangement, so that ths ocorporn- tion connot be managed for the bon- efit of & ring of speculating stockbolders ot the expense of the people. It provides for tho eatablishment of a sinking-fund from the carnings, to be placed in the handsof the State Trensurer, who shall continue investing it in the stock of the corporation until all the stock will be taken up, and the road can then ‘bo mansged at the cost of maintenance. Tho details of the plan embraco two gen- erol monsures, the first of which ia the secur- ing of terminnl accommodations by meking n consolidated line from Boston to the New York Stato lino. For this purpose the cor- porators ask the autharity. to acquire and control the Southern Vermont, the Troy & Greenficld and Hoosao Tunnel, tho Massachu- getta Contral, the Boston & Lowell, the Ver- mont & Meagachusetts, and the Fitchburg Ronds, which they estimate will cost as fol- lowss Bouthern Vermont, Ioosas Tunnel, Troy & Greenfield Ratlroad ‘Maseachusetts Oentrale,e,. Boston & Lowell, £20,811,803.60 construction of tho main line, the Boston & Chicago Rail- way, via the Nisgarn River, the distances and coat of whioh are given as follows: Boaton to New ork Siate line, via_Dropomsd lnar ‘i'g'g Btate Line to N“s:{l‘ mvnl";hflax)m 080d 1100, .00 0 2“ cago, Niagars Biver to Totalsvrnraess or s Cost, including double tracking wi roils, to Niagara River Toston to Blats Hue....ue la Bouthern,. +$04,811,504 from Boston to tho State line includes the complation of tho Massachusetts Central and Vermont & Maasachusetts Roads, which adds $8,000,000 to the amount first stated. In addition to the main line, the os. timates ave given for four branches, The first of these is & brauch of 10 miles from Troy, moking connection with tke Erio Qanal st Hcheneotady, which will shorten the dis- tancos from Boston to Dinghamton, Utlea, Baratogs, and the coal miues of the Delaware sud Hudson Canal Companjes. 2. A branch of 60 miles to Clayton furnishos connection with the Grand Trunk and Georglau Bay, 8, Abranch of 40 miles mukos the shortost routs to the east end of Lake Ooiarlo, and opens rail and water comunurieat with Georgian Bay, besides making connectiony with Oswego, Rome, Ro. Hyracnse, and Foirhaven, on Lako 4. Abraneh of 50 miles, conrectlt £ iy Lakeo Evio ot Buflulo, eud, by meaus of ¢y Baffulo & Jamestown Road, with the Lo tic & Grent Western Rond and the wily.. gions, 'Tho eatimated cosk of the mein ling Main Hnn (seo 1 Helienectady Bir Clagton Dranch Tuk%o Ontarin Iir Buitslo Biragch.. Tolaliuue vinrinaren Inasmuch as the cost of the Boston & € cngo Road is one-third less than that of ¢ shorter line from New York City. lines are watercd up, and the distaucn Je-, and gs the former’s dividends are li d hy law to 6 per cent, ond the peoplo ot rageously taxed to pny the dividends o1 the latter on their watered siock, thare not only seoms to bo no renson why Now Eu. gland will not secure her full share of the Western trade, notwithstanding the incvitalle howl which will be raised by the New York stock gnmblers, Lut no good roascn why this new road should mot regulnie freight charges and crush out tho prascnt despotism of railrosd wonopoly, The I will undoubtly pass the Legislature, ns it clearly in tha interdsts of all New Englon aud the State will rceeive ample coripen tion for the interest it has in the Troy & Greonfield and tho Southorn Vermout Ronds, Not the lenst important forture of the new plan would be the practical cc'tic. ment of the Hoosno-Tunnel question. which isn sort of white elephant on tho hands of tho State, ORGANIZATION OF THE LEGIOLATURS. 'Tho Legislature of the State of Illinois will meet on Wednesday, For the first time in many years thore will bo somo troubls in the organization. Neither Democrais nor Republicans have a majority in either House, ‘Ihose clected asIndependents sra sufficiently strong to prevent either party organizing cither Houso. Nevertheless, tho whola num. ber of thoso elected ns Independents is con. paratively small,~—too small to support any pretonse of constitutingn third parly, Thers i8 no oceasion, nor is there any principle in. volved, nor issuo at stake, to justify men who have beon Republicans or Demoerats all their lives to set themselves up as an Indopendent party, To do so, will be only to delay the organization of the Legisiature, It is likely, however, that the gentlemen who have been elected as Independents will afllliate with the two parties according ta their previous sympsthies and predilections, Thoso who have been Bourbons will act with tho Bourbons, and those who have bocn R publicans will sct with the Republicans There havo been so far no canvass of candis dates for tho Bpeakership of cither House, The Lieutenant-Governor being now the soting Governor, the Senate will bave ta choose a presiding officer to serve for twa years, For this ofice Senator J. O, Hanves, of Cook County, has been urged. This gen. tleman, though nominated by the Demo. ceats and Independents, reccived nemly ma many Republican votes as ho did of the Opposition. Ho hes been a Republican oll his life, and will unquestionably act with that party on all party issues, though he may refuge to be bound by the action of any party caucud. Hia brother, Mr, E. M, Harves, rape resents Loke County in the Hounso. He, too, was elected as an Independent, but, baving neted with the Democrats for several years, ho will probably continue to affiliate with thom hereafter. If the other Independents adopt the same senaible and practical course, there will be no difficulty in organizing eithm House, and conducting the business of the session smoothly. The candidate by gereral consont of the Republicans for Speaker of the Mouse will be Mr. 8, M, Cuie roM, of Bpringfield. Apart from par ty considerations, hia election would be gratifying to all the members, and would greatly expedito business, Ho i1 probably the best presiding officer in the West, and in a House composed, as this ont will be, of new and inexperienced members his election would bo a publisc benefit. 4 very large proportion of the Democratit members would rejoice in Mr. Curnrox's election, though they may not foel at liberty to vote for him, Both parties, however, wil ignore any * third party,” Whatever im pression or opinion mey have prevailed 1 year ngo as to having o third party, it existi no longer., The country is preparing itscll for the grent battle of 1876, when the contes! will ogain be narrowed to a choice between the Democrats and Republicans, and all mez will by that time fall into one o the other ol theso National organizations. If, then, the members, on meeting next Wednesday, sholl accept the political situntion as it stands, and vote a8 their past political affiliations suggest, thers will be no difficulty or delay in tin orgauization of the two Houses of the Legis lature, TIIE SENATORIAL CONTEST I WISCONSIN, The Bonatorial contest {n Wiaconsin iv bes coming warm na the time sppronches for the moeting of the Genersl Assembly, The Janes: ville Gazelte, which bas boen on tho fonce for some time past, has at last declared iteelt in favor of the re-election of Beontor CARPENTER, claiming that the lnfluential men of the Stats, who were friends of Gov. WisHDUSK, ar¢ coming out dally for Mr. CanreNtrn, * who i likoly to be re-cleotod without opposition,” whereupon the Vornon Censor fresuits mind aftea tho following manner: As Mr, CARPEXTER {a now preared s ¢ ope whomt disposition is to represent the wirhes of tho Emh.‘ wo ask 1 all csndor what tha wiskies are whick he hit 50 honeatly roprescntod? Did he represent the wishes of the oable of Rock County or of the State, whon Le Fotod imuelt 4,000 Luck ey aud $5,000 forvard pa¥y and defended tho act afterwurds in a speech: st Junuse ville? Did be represent the wishes sud woral seutie ment of the peoplo when ho told them in that speech (LAt 1t was necesvary for members to bave salarios lurge suaugh to enulle them to keep thelr fawlliow in Wasbington, or elsa they would avell tuemvelves of fumaily privilcges st the cost of scmebody else? Did Lo represent the wisles of the people when in thud same speech he defended tho Crodit-Mobilier cortupe tionists who robbed the Government of over $0Uy 000,000 Aud i that whbat thsy call “oficisl ine eyttt id hio represent the views and wishes of Ttepubli~ cans when Lo oppossd the sbolition uf the frankiug irivlege, & mesaure demanded i ‘the National Repub= llean yustforin ¥ Did ho represent them in_opposing Civil-Service o~ forru, a0 & measure yromised. in our uatomi plate form DId o represent ea {n opposing the Clvik i Bl Rasopresont thele viows and feelingy when bo defended fraud wnd corruptin 1o .tho cass of tlie cor- Tupt Benstor CALDWELL, aud 18 1hut what te now called “thelat futegrity Did e repwat thole views in advocating and voting for 20 infamous gag law (is own, which was defeated), deslgud to murzle tiie press sud' keep the delinquens clus of members of Cougress froos reaching the ears of thelr constituents t We dosire onuwors 1o these questions, aud when {bey ore unawcred we may have o fow more to pro- pound, If these questions cannot va anawsred in ths attirwative, then wa ask the Gazells to name the tleular oo roln L Lus showi #o great & disjioate tion 10 rop) thie viows of the pecpis, for they have certainly sacapcd our noticw, A to Lo ututonient that jufiventlal citlzens from wil parts of tho Btete are omivg vut for Ar, CARPENTEE, 11 ouly 223 Lhat wo have But hosed St any ek i part of the State, The Cuounly of Veruon, with ite 1,60) to 2,000 llopublicun mafority, contaias bub ougor two ruetabors of the lopublicun party whg av known to be williog to sco Nr. OanpaNtsn octad 10 thiv bouate, Lo Crosve Oounty is equal) \mndl:? w - a8 fs evoxy county wu this Cougrvusiousl Plataiyl Leshals s vacaplva, TLe peopla of Green, B et ST