Chicago Daily Tribune Newspaper, January 4, 1875, Page 5

7 THE CHICAGO DAILY TRIBUNE: MONDAY, JANUARY 4, 1875. TERMS OF THE TRIBUNE. BATEA OF SUBSCRIPTION (PAYALE TN ADVANCE), P Postag: Dy e Partaol & year at tho vame ratd, To prevent delsy and mistakes, bo rure and give Post. Oftico adriress In foll, includhog Etate and Caunty. Itemiftances may bemade elthier by draft, capress, Post- Gitiso ordsr, or in eristerrd lotters, at our risk. TENXA TO CITT NORSCRIBERA, Iiefly, delivered, Funday excenied, 275 conta perwask Daily, delivered, Snnday incinded, cents por woek. . THE TRIBUN VANY, Cornaz Madiron and Dearborn. hicago, 11l ' TO.DAY'S AMUSEMENTS. GRAND OPERA.JIOUSE~Clark srest, opppaire Blmen Touse, Kolly & Leon's Minstrols. '‘le otit Fanat," HOOLKY'S THRATRE-Handaloh Olark and Lagalle. **Lost in London.™ street, between OHICAGO MUSEUM--Monrng sireet, batwoon Dear- bomntcuuu. “*Tha Dy We fllhnl i ACADEMY OF M ted street, betwesn Mad- d‘ ‘Monros. Kngagoment of Miss Olars Morris. o an “* Alizo, MVICKER'S THEATIEMedison sirect, tho) twoen born and Rtate. **Sweethearts and Wives" and nd Me Five Shillings. " SOCIETY MEETINGS. HTS!--Regular oonclave of iting B{; fi insited, courteou LLIAMS, Resorder, ERTISEMENTS, THIRD PAGE-City, Suburben, snd Country Real Eytata, Waots, To Henls, aic., otc. + BEVENT] l’g\uB“—Amnfiymauuérl‘nekg?mufi'fln:’i 3 atlon, Jeoan SteAms o P, Bitsstionn, Diseotatton Notiose, Modioal Oards, cto., oto, The Chicags Tibune, Monday Morning, January 4, 1875, THE TRIBUNE'S ANNUAL BEVIEW, In consequenca of tho unexampled demand for Taz TRiUNs's admiratle Annual Raview of the Trado and Commeres of Chicago for 1674, wa havo printed au- other larga edition, which csn Le obtalned at the connting-room to-dsy in single wrappers ready for wailing, They say that Lis wife, who is in Europe, has been taken suddenly ill, and that he is a very tender husband. The Democratic members of tho House aro gotting very tired of the Pacific Mail investi- gotion, They nover thought, when they were 50 liot in pushing the matter, that guilt would first bo brought homo to o Democratic Con- gressmon, Tag Governor of Dakota has vetoed a bill, designed to repeal certain railrond-pid granta made by townships in that Territory. Thoe Governor is n plain-spoken, God-fearing man, and he cannot seo, for the lifo of him, in what respect such a bill differs from an act to authorize robbery. The new Finance bill is likely to pass the ‘House noxt week without much trouble, though somo of tho New England members will fight it to the last. It comes up asthe special order on Jan, 7, A Republican cau- ous is called for Wednesday next for the pur- pose of maturing some lino of action on th_a bill, Inwiy 68 much as says that Roacn is o per- fidious knave. The books of the Pacifio Bail Company, Inwm¥ eays, ought to show that Roacn's contracts for the new ships were made conditional upon the passage of the subsidy bill. Now, if it should prove to bo 4be caso that Roacn also is capable of such things, where ara the people going to look for unadulterated patriotism ? It has always sppeared heretofore that Roaor built those ships because he loved bis country. Mr, Wizttax 8. Ko, member of Con. gress-elect from Minnesota, is missing, His frionds are snxious about him. Ho was known to have in his possession at the time he was last seen a large sum of money, ‘which he realized from prudent investments in Pacifio Mail stock. Mr. Kiva is the only onaof his own friends who has not come forward to nttest his innocence of the slan- derous charges mado by the mnewspaper proas concerning his contuction with Tewmy's bribery-fund, The Associatod Press agenis at the Sonth hava not heretofora been distinguished for strict impartiality in their reports of political otfairs; even the testimony before the Con- gresaiongl Investigation Committees has been colored, in a greator or loss degree, to suit pactisan purposes. It is plensant, therefore, to notico this morning a «light attempt to retriove and atono for past er- zors. Curiously enongh, the agent at Vicks- burg and the one at New Orleans have betn overtaken by remorse at the same time ; and both sond portions of the testimony ex- tremely favorable to tho SBouthern Repub- licans, which were takon by the Congression. sl Committees Saturday and omitted from the report for that day. Tha truth about the Bouthern Ropublicans is doubtloss bad enough ; and the truth about the Southern Deawmocrats it a good deal worde than any. thing tho press agents have beon acoustomed to sond North, The leaders of tho * Puoplo's Party ” inthis city have been holding private speclal con. ferenco witha view to future organization and retention of spoils, The occasion for the title * Poople's Party * has passed awuy, and the approsch of tho Presidentisl cam.. polgn indicates the pecessity of a wider and broader organization, Henco DaN O'Harma, Hzewxo, snd Judge Tavamvry, and the lesser lights aro taling the preliminnry stepsto .organizo the opposition under the common name of the * Democratio party,” This or- ganization is to begin at Springfield, among the members of the Legislature, and is to in. cludo 0s many Independents, Farmers, and Grongers as possible, Itix then to be ex- tended to the various counties. The work, bowever, is to begin in Chicago, where the beuner of the ‘ People™ is to be hauled down and that of the Democraoy run up in {ts placo, Wo kuew it would como to this sooner or later, and that the mask wounld have to ba dropped. The name of People's Party wea erely o not cast by Demooratio lesders with which to eatch Republican fish found in shallow waters, e E—— The Chicago produce markets wers mod. eratoly active on Saturday, but chjofly in set- tlements. Mess pork was in fair demand, and 203 por brl higler, closing at £18.85@10.00 cash, and $10.80 seller February, Lavd was firm, and 7 1-2@100 per 100 ivs higher, clos- ing at #18.12 1.2@18.15 cash, and $13.87 1-2 @18.40 seller February. Meats were more sotive, aud 1.8¢ per Ib higher, at G 3-{c for shouldors, 8 5-8c for short ribs, and 100 for sbort clesr. Drossed hogs wero more aotive aud stronger, at §8.00@8,25 per 100 W, lighwines were fnaotivesud nominally easiui at 95@96c per gallon. Flour was dull and unchanged. Wheat wns more nctive at Thursday's prices, closing at 90 S-4c cash, and 920 asked for Febrnary, Corn was quict aud 1-4@1-2c higher, closing at 66 1-#c cash (new), aud 71 1-2%c for May, Onts were more netive and a shado firmor, closing nt fide asked for cash, and 53 1-8¢ for February, Ryo was quiet and ensier at DSc. Bmley was dull and 1.2@1e lowor, closing at $1.23 1.2 eash, and &1,25 for February, Live hogs wore active, and 10@1ic per 100 s higher, at $6.R:@ @7.10. Cattle wero quiot and unchanged, TRE PUBLIC DERT STATEMENT, The January debt statemont shows that the Government rovenues ran behind the ox- penditures S,639,067 in the month of December, which ling reduced the total de- crense in the public debt for the six months of tho current flscal year to 80,980, Though this is a very material falling-off, it could not bave been unexpeeted. Itis, nsa matter of courso, the direct result of a de- cline in revenue; and this decline is the direct result of hard times. When the panic came, something moro than a year ago, peo- plo began to retrench both in their business and in their fomily expenditures, This re- trenchment slowly but surely affects tho revenites of the Government, mainly in the decline of customs' duties. It can only be mot in one of two ways, either (1) by in- cronged taxation, or (2) by reducing ex- penscs. The second of these methods—reducing expenses—is the true remedy. The first is an exercise of an cxclusive power which could not be brought into play by n private person. When the business man finds that his incomo is falling off and his debts in- crensing, his only recourso is in tho reduction of Lis exponses. He caunot lovy taxes on-his customers. Thia is the rule the Government ought to apply in a similar ense, It isnot as though we were experimenting in the mat- ter, 'Wo know that the number and amount of taxes now levied are sufficient in good times to produce a great surplus ; if they fall short in bad times, the shrinkage in the business of the country mnst bo met by o shrinkage in the expenses of {he Government, As the deficit s brought about indirectly by individual retrenchment, it must bo met by public cconomy. If this principle had been recognized as fully and a8 early by the vari- ous Government dopartments as it was by wise and judicious business men, thero would not havo been an increase in the public debt of threo and a half millions in a single month, There are only two of the general Ex. ccutivo Departments in which economy and projects for retrenchment have been in.- sugurated on o seale commensurate with the nocossities of tho case, Theso are tho Treasury and Post-Oflice Departments. Mr. Bristow began his official career by catting down oxpenses, and there is reason to believa that ho will continue in this direction, Post- master-General JEwepn bias snnounced that hie will bo ablo to reduce the expenses of hig Department from $3,000,000 to 24,000,000 & yenr, and hes practieal projects for realizing this expectation, But we do not hear similar reports from the War Dcpartmont, nor the Navy, nor the Interior, sll of which (and particularly the last) might contribute oqually with tho Treasury and the Post-Office Depart. menty to the gencral plan of retrenchment. In tho nrmy, tho cutting process should begin above the rank and file. In the Navy, tho increased expenditures ordered nt tho time of the Virginius complication should be stopped whero they are. 1In the Interior, especiil sttention should be directed to the Indicn contract. system, Everywhero there shomld bo ths same effort at cconomy which & district indi- vidual would exercise uder the same condi- tions, " There is but one thing that might be done in the way of increasing taxation, and that is to reatore the duties on ten and coflee. The low duties which existed before the repeal— 38 cents on coffoe and 15 cents on tea—would yield o rovenue of about $12,000,000 a year. They ought to bo restored, not on account of the present deficiency, but because they are duties for revenue purely and ought never to havo been teken off. 'The amount which they would yield to the Government shonld be turned over to the Sinking Fund, in order to keep good tho pledges herctoforo made, thus leaving tho deficit in the revenuo to be offiot by tho roduction in expenses. In some respects, the late increase in the public dobt will be of beneflt to tha country. The vast amount of surplus which has been dovoted to decrensing the public debt within tho last few years lns encouraged extrnva. gance in all the branches of tho Government, and indicated a prosperity which was falla- cious enough to betrsy tho people into an overweening confldence. If ntemporary sus. pension in the rapid progress we were making toward extinguishing the publio debt shall bring peopla back to their senses, and induce the various Departments of the public service to roduco their expenses to tho standard of private business prudence, the temporary in. crenso of debt will b of moro service than harm to the country, CREDIT MOBILIER—PACIFIO MATL. In the winter of 1878, a Congressional Com. mitteo of Investigation unearthed tho most startling fraud that had ever been practiced on the American peopls, which, under the name of ¢ Credit Mobilier," robbed the pub. lio of untold millions, Ko base was this fraud that we know of but one publlo man who liad the hardihood to defond it. That man wad Marraew H. CinpeNTER, now a candidate for re-election to the United States Bonate, Called to account for his delinquen- ey by his constituents in Rock County on the 20th Juno, 1873, ho delivered o epeech at Jonesvillo wherein he defonded in the brond. est terms the galary-grab and Credit-Mobilier corruption, In speaking of the last Lo said : T know of nothing more likely to excite mirth than tho Crodit-Stobiller investigstion, . o o Now, If it ‘will not make your blood ruu cold and your bair stand nuend, I will tell you just what the Crodis Sfobiller wa3, aud show you that it has nover takon ona dollsr from the Treusury, uor defrauded the Governraont of ouo cent, aud tlat fbe penic which bas thrown Afty millions of peopla into convulston 1+ all about nothe ogatoll, . . . Dutyouask, Did moi the Oredit Mobdlier cheat the Rallrond Company? I anewer, I don't know, and I dou't caro, I the Railroad Company hisa any complaint sgalnat the Credit Mobiller, lsb § make its complsint and seek ita romedy. Tho Govorne ment has no cause of complaint aguint the Credis Mobilfer, beoause the Government never had anything 10 do with that corporation, damned by its mysterious name, But it Mr, OanrexTza &id not care if the railroad was robbed, the people of the United Stutes, who held a second mortgage on tho road for $64,000,000, do care very much about it, 28 this Oredit-Mobilier robbery rendors it pretty certain that tho Government will sus. tain u total losa of its advanous, Lut damning as was this Crodit-Mobilier robbery, & reccut one hus been brought to the suiiee which, if loss in maguitude, prowises 1o Lo mora danvuling to the purticipants then to those wAO Werd involved in the Uredit-Ao. bilicr iniquid¥s Tho 2ecent oxposure of the procurad by the Pacific Mail Company bas, money was expended,—now known (o exceed £1,000,000, Of this money, & heen traced to the hands of the Hon. J. G from New York, and 115,000 {o tho Hon. sentatives, As yet we have seen no apology for Krxa in any Republican nowspaper except the Mil- TER'S Organ. paragrapls An effort {s being made by some nowspapers to con- nect the Lon, W, 8, Kixy, of Miunosota, with corrupt Ppractices in connection with the Pactde Man, Thia effort has simply no foundation whatever n trulb. Tho facts aro these ¢ Thero was o Lill pending in Con- Rrees 10 giva au increasod mubeldy to the Facific Mait Bteamslip Company, Mr, Rind, who was only Post- master, and not & member of tho Houre, nad con. fidence that tho bill would pass, IIe went to New York and communicated thts assurance to partios thora, A pool was organized, and & large amonnt of ihe slork advanco was roalized, and it was ils sharo of this spec- ulation tuat was pald to bim in tho manner detallod befuro the Wags and Means Commlttee, Tho transic. tion was purcly & business mattor, and ono to which 00 tafut of carruption attackes The language of thiy item and the political morality it discloses can leave littla doubt of its nuthorship. But the statement is decep- tive, Mr, Kivo could not have made $113,- 000 by stock-gambling in a Pacific Mail pool, picco. The St. Paul Press, the leading Repub- lican paper in Minnesotn, has the following to show that there was no rise in ‘* Pacifio ail” upon tho passaze of the bill Tho Pacific Mall Bubsidy bill scoms to have passed on Mg 27, 1874, We may secms, because ofter s care- ful fnapection of the Cangressional Globe we find that tho report of the Conferenco Committeo was agreed to in tho House on that day ; but can‘find no record of any action upon it in the Senate, -1t was, howover, aps proved on Juns 1, 1872, Mr, Kixa presented Mr, In- wi's chock a¢ the American Exchiange Bank on May 2, Inview of the theorythat Mr. Kixa made bia money out of tho rive in Pacific Mail stock, cousoquent on the passage of the bill, our attention has been callod to the folluwing quotations of Pacific Mafl atoc! From May 710 May 15 tho quotations rose from 73 1086, und_ fluctunted between 82and 85 tll lay 20, after which, spparently inview of tho certainty that ‘the subisidy would pass, the stock underwent a gradual rduuy decline as abose noted, reaching 68 on June 19 Tho probable explanation s, that the Subsidy was based on onerous requiroments—involving very hoavy expenditures~—such aa soveral izon stcamehips of 4,050 tons burden, NEW BENATORS, With tho assemnbling of State Legislatures this week, n large share of ecurrent political interest will centro in elections to be made for the United States Senate, Tho terms of twenty-five Senntors expire on tho 8d of March, and clections have boen or are to be made for tho succeeding torm ns follows: Terma_exmre, Jtarch 3, 1815, For the succeeding erm. Nswrox Hootat, Wilsiam V¥, Eaton, "{wm., Pinckney Whyts, Branch K, Brucs, ¢, «jdllen @, Thurman, Namuet B, Mazeu, [corgo ¥, Edmunds. | Robere £ Withere, “Formnr oxpite : Tepublicans (i Botoan), 17; Demo- cratu (in italic, 83 Indepondents ({u 4xALL OAPY), U, If elections shall bo made without devia- tion from party lines, the Domoorats will gnin Senators in Florida, Indiana, Missouri, New York, Ponnsylvania, ‘fennesses, and West Virginin; aud the class of now Senators will be 14 Democrats, 10 Republicans, and 1 (Boorn, of California,) Independent. But thero are rumors that the Democrats in Flor-* ida will trade their Senctorship for the State Governorship ; and in two or three Republic- an Logislatures tho majority is eo small, and tho personal controversy so intense, that it would be premature to predict tho result. In any ovent, however, the Senato is to remain Republican during Presidont Grant's term by virtue of n preponderance of Republican Sen- ators holding over, Tho class whoso torma expire in 1877 are 15 Republicans and 10 Domoerats; and thoso whosa terms expire in 1879 are 18 Republicans, 5 Domoerats, and 1 sont (Pixcmpaox’s) in dispute. Tle Benato- rial cloctions (clana of 1881) most clearly in- dicated nre: Delaware, Tnomas F. Davanp; Indiana, Joseri E. MoDoxavp; Missouri, Joux 8, Paerrs ; Nebraska, Jomv M, Traver ; Neva da, WirLiam Snanox; New Jersey, THRODORE F, Ranporrn ; New York, Francis Kzaxax ; Peunsylvanin, WiLttam A, Warrace ; West Virginia, Henny B, Waixen, In Maine, Michigan, Minnesots, and Wisconsin, there. cloction of Benators Hawmriv, CmaNDLER, TRaunzy, and OanrextEn 18 hotly fought in- side the Ropublican party, and in these States, a3 in Massachusatts also, the whole situation deponds on whather the Republicans will agroe to fight it out in caucus and to sbide by the rosults thereof, In Tennessoo theroisa controversy of some bitterness, involving a list of Benatorial aspirants only limited by the number of available Demoorata in the Btate. ‘The contesta among aspiring Demacrats in Indiann, Pennsylvania, West Virginia, and Now Jersey have also doveloped bittor personalities, although the resulta in theso States would appear to be indicated as given abave, Bowrbon Democrat in tho place of OCany Boruaz, aud if it bo not Jouw 8. Parwrs, & carpet knight, then Gon. Frang Cooxniry, ‘a gallaut soldier of the Qonfederacy,” is the that of the new olusy of Benatora at least twerty will be new men, The Senate has not, for many yeara, undergone 80 decided a change in its roll of mewbers (polities aside) 1o ceoix, 28 iy now abox: The lenders of tho so-callod * People's Party " in thie city aro fu sesrch of a new namo, they feel that, under tho present name, they have forfeited the confidence of the public, ‘Lho renson that we are glad of the proposed change is, that the present name under which the Democratic rings ure operating is o mero decoption upon the peoplo long enough. It has been a cover for irresponsibility, An ple's Party " caunot be held mocountabls, s would be tho Demoaratic party. He s alm. menns whereby a $5,000,000 subsidy was 5,000 has Senusmarkn, Democratic member of Congress Wisnay S, Kiva, of Minnesota, who at the time was Postmaster of tho House of Repre- waukeo Sentinel, which is Senator CarrrN- On Thuradny last that Senator returned to his howe in Milwaukee, and on the following morning, by n singulur coiu- cidonco, his organ contained the following was bought, Upon the pissage of the Uil a conslderable a3 asserted by Senator Canrexten's mouth- In Missouri all is quiet ; itis tobe s man. One feature not to be overlooked is Wo aro glad of it. Their reason for the proposed chenge is probally beoause dolusion and a snaro, which bas practiced s office-holder under the auspices of thie ** Peo. ply tae member of a temporary organi- zation which, loving' no public repu- if posaible, rhocked the coudtry more than | tation, responsibility, respectability, or the Cradit-Mobilier exposure. Toscenre that | deflnite recognition, is utterly enre- kubsaidy it iv shown that o very large sum of [ less of what its members do. Now there are only two politieal partics in the country. —the Republican party and the Dewmoerntic party. If the manngers of the wo-calicd “People’s Party” aro disposed (o acl faitly townrd the publie, they will adopt the namo of Demoncrat, Hero is whero thoy belong, whero they tind the great bulk of their voting mnterinl, nud thoir natural aflivitios. 'The public will then know whers to placo their ofice-holders, and will have a responsible party organization to hald to account for the stenling and jobbery which are now going on day aud night, Thevs will no longer be a deception to induce Republicans to eloct Dem- ocrats to oftice under tha title of ** Peoplo's- Tarty ” mon. It is timo for this organization to show its true colors, aud it will be & breach of faith to ndopt any name but that of Dem- ocrats, " USURY LAWS. New York State, which are confessedly tho most barbarous enforced by any Clristinn community, hns failed through the opposition of the farmers of the State, They cling, ns tho agrienltural class gonerally has done, with singular tenacity to theso medimval dovices to protect borrowers, who ecan bost protect themselves, and who are demonstrably in- jured by this interference in their behalf. The atfempt to abrogato theso lawa is to bo renewed in the coming session of tho Now York Legislature, and, in the opinion of observers on the gronud, with mora prospect of success than heretofore, It is mot strango that the ngitation should Lo rendwed annually, for New York goes be- youd even the Mahommedan law, snd, in ad- dition to the forfeituro of principal and in. | terest, makes the usurer linble to imprison- ment. Tho vitality of usury laws is ono of the most singulnr chapters in tho history of humen attnchment to delusion. It is nearly two centuries since the absurdity of these en. nctments was shown by Jonx Locke, aud fifty years sinco BENTiAM'S celebrated **Defense of Usury" closed the argument. Usury Inws bave been extinet in Great Britain for twenty years, having been repealed in 1854, Still they are adbered by alargoe mnjority of the States of tho Union, and Georgia, which two years ago abolished all restrictions on inter- est, is now the scene of a renctionary agita- tion for their re-ennctment. Tho following table shows how the laws of tho States stand on this subject : Forfeiture of all fnterest—Alabamn, Counecticut, District of Columbia, Fiorida, Iiuois,” Kanaas, Ken- tucky, Loulsiann, Missour), Nobraska, New Jersey, Nortlt Carolins, Rhodo Islund, South Carolins, Tonuos- Boe, Wisconsiu, Forseiture of intereat in exeess of legal rate—Doko- ta, Fndisnn, Towa, Maine, Mnr;hnd. Blichigan, Obio, Pennayivania, Yermout, West Virginia, corfeitare of adl rights under the contract—Arkansas, Dolaware, New York, Virginia, No legal restrizt ams~—Calsfornis, Oolorado, Massachu- netts, Misnl az, Utan, Agg, Nevada, Now Moxico, Oregon, Tex- 207 It will bo seen upon examination of this tablo that tho States in which the usury lawa have tho wenkest hold are mainly Wostern States. It is the old communities, in which new ideas heve less regard, that adhero most closely to tho antiquated penalties. Mas- sachusotts is an honorable exception to this statement. % ‘I'he abolition” of the usury laws in Great Britain required thirty-flve years of agitation, It-is satisfactory to note that all the agitation in this country tends undeviatingly in the di- rectionthat good sonse, and political economy, which is nothing but industrial good-sense gen~ ernlized, Jong since pointedout as tho truoway. It issafo to predict tho ultimatedisappenrance of restrictions onintercst and nu untrammeled ern of {ree trado in money. In Earope, out- side of England, the diversity in tho usury laws is s great as betweon the United States. Spaln and Austria enforco penalties almost assevore a8 Now York, Fronce, Norway, Sweden, and Denmark confiseato the excesaof intercst over tho logal rate. In England alone, is money-lending free. OAPT, EBZR WARD, . Tho first death fransmitted by telegraph for the New Year is that of Capt. Enes B. ‘Waxp, the well-known manufacturer and iron.master, who fell dend in the streets of Detroit on Saturday last, of apoplexy. Capt. Wanp was one of tho few business men who bave commenced at tho rudest begiunings sud mede o national reputn- tion, He was born in Canada, on Dec, 25, 1811, during & visit of his parents to that country, who lived in Vermont until 1817, and come to Michigan in 1821. In his 12th yoar he'went as cabin boy on a schooner making trips from Detroit to Mackinae, and two years after was employed by his uncle, Sanven WanD, a ship-builder at Marine City, who subsequently gave him an interest in the business, In 1850 he wont to Detrolt, whero he engoged in the shipping business, in which he continued until large industrial onterprises engaged his attention and brought him prominently bofore the country,—go prominent, in fact, that i Axprew Jomxsox had been removed and Mr. Wanz been made President, os he would have been in that emergenoy, Mr. Wagp would have been mada Becrotary of the Treasury, 68 it was Wape's purpose to appoint him, In the quarter of a century which Las intervened einge he identi. fied bimsel? with tha shipping business he has organized and conducted with wonderful success o groat number of important enter- prises. Ha commenced by setting the tot- toring Eurcka Iron Company of Detroit upon its feet, and, making this the starting point, he followed it up by establishing extenaive {ron.works in Chicago and {Milwaukee. He purchased minea in Wisconsin and in the Lake Buperior region, ereoted blast furnaces at Wyandotte, Leeland, Toledo, and Chicago, and, to carry out his purposes more exten- sively, purchased grest tracts of land for charoonl, also pine lands, lumber mills, and salt wells. He not only operated in iron, but also in silver, and, when the silver discoveries woro made on the north shore of Lake Buperior,. & few years ago, purchased the entire Bilver Islet, set the mine in ‘operation, cnd cstablished silver-smelting works at Wyandotte. He also made largs in. vestments in silver mines in Utah, which was ono of his few onterprisea that proved unre. munerative. Ho also bought an immenso property near 8t. Louis, which was available for glass manufacture, and organized thoro the American Plato-Glasa Works. In railrond enterprises, he was President of the TFlint & Poro Marquette Road, a Director in the Detroit & Milwaukeo Road, and also financfal manager of the Burlington & Bouthwestern Road, It wasin iron and steel entorprises, however, that he was best known, and of this gyeat domain he was king. The most vemarkabls characterutio of Capt. Wasp was his woaderful business abil- ity nnd his capacity for organizing industrial enterpriscs, Probably no other buginess man s this country, during the past quarter af a csntury, has abown these qualities to ! ' such a remarkable extent. Every cffort to repenl the usury laws of | Hie clearness of judgment nud wonderful execntive power, which ennbled him to grasp every detail of Dis business operations, wero such that he rarely miswed his ealenlations, In his man. agement of an ivon or steel mill or o furnacy, he Inid out tho details with suel care that he seldom made a mistako in its building and operation, or in finding o maket for its pro- ducts. It was owing to this cantrol of his husiness, nud the knowledga of what ho was doing, that tho penie, which prom. trated the ivon business moro complefely perhaps than any otlier business in tho coun- try, affected him less than any othor iron- wmaster, His eapncity in this respect was all the moro remnrkablo from the fact that ho was operating ot tho same time Lialf o dozen large ivon and steel establishinents and ex- tensive glass and silver interosts, 1L Ape- cialty, however, was in iron and steel, aud his policy was to multiply and onlarge theso establishments, and in doing this hie always secured success where aticeoss was possible, As o political oconomist, Cnpt. Wanp wns a high-taviff man, and the panic rendered bim au inflationist of tho most exaggerated char- acter, During the past fow years, in fact, he hns made tho high-tarif policy his hobly, and bas pushed and ndvocated it with all the pertinnelty and vigor of whichhe wasg eapable, his idea of lis iutercsts Leing to increpse the tarilf and sell on the rising nar. ket as the only way of eseape from the preas. ure brought about by the pauic. One of the last nets of his life was the preparation of an open letter to tho President in which ho advo- cated, as the surest plan of restoring * good times" in business (to E. B, Wazup), an in- crease of the tariff overy thirty or sixty days, and watering tho grecnbncks every time the tariff was increased, As the increaso of tho tariff would ndd to the prico of goods on hand, and tho increase of greenbncks would mdko their valuo more and more un- certain, poople would keep them moving ns lively ns if they were handling hot conls, and wo should have * flush times,” Aftor realiz- ing upon his stock on hand, then anothor shove upwards could bo made, and thus money aud stocks would be kept kiting until the formoer oxploded like an over-inflated Lalloon, and the people rovolted against the oxcessive cost of protectod goods, and broko the monstrons dutics down. But ot the time the inflation of the cur. ronoy ond increase of the tarif was stopped, Capt. Wanp would have unloaded himself and been in first-class trim to meot the inevitable erash, In tho direction of tar- iffs and inflation ho wns wild and reckless, ond ho pursued his theories in & personal way which might have snved himself but brought ruin torriblo upon tho country, and prostrated all consumers in tho dust. In theso respeets ho will have few admirers or followers, but so far as success in the organi- zation of great industrinl enterprises, inti- mate knowledge of their details, and ener- getic application aro concerned, ho stood al- most without sn equal. In his death, the iron and steel industries of this country have lost their master-spirit and the currency-in- {lationists their strongest advocato. THE CITY CHARTER. Tho conference between the Citizens' Asso. ciation and the members-elect to the Legisla- turo, held on Baturday, was by no' means final inits results. The spirit shown was, howover, very desirable, There waa a striking unanimity ontho twopoints: 1. That our ex- isting city charter is altogether inefficient for the government of a city like Chicngo; and 2. That the present general act of incorporation, while better than the old one in some re- spects, needed radical nmondments to meet the wants of tho city, While everybody agreed on theso points, there was a wide diversity of opinion as to what amendments ought to be mado and what amendments the Legislature would be willing to make. The difiicnlty of framing a general charter, applicable alilce to oll cites in the Btato, is a serions ono; no lesa than fifty-five * cities” and 115 * towns” havo already organized under tho general law, and to pmend that law iz to. amend tho charters of all those places. 'The amendments especially needed in Ohicago aro not such as are desired in the smaller or rural cities and towns. One great roform nceded hore is to strongthen tho Executive power of tho City Government, The Mnyor of Chicago has scarcely any authority, and is officially almost a nonentity, when, in fact, he should be made the rosponsible head of the Government, and clothed with proper powers to direct and control all the subordi- nate branches. In a city like this, where the tnxes leviod by the Common Council are double thosa levied by the Legislaturo for tho whole State; where the means and op- portunities for fraud and corruption are ten. fold groater than in tho Btato Government, the Mayor ought to have the power to veto any itoma of appropriations without defeat. 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- printions shall be made, ‘Whatever they do- mand must be granted, or' tho whole Oity Government be bronght to a stand-atill, Another amendment, suggested by Mr, Tuvey, is to the following effect : A suilt may bs brought by sny tax-payer {n the nama and for the bonefit of the city or ¢, Bguinat any pereon, oF coFporation, 0 Tocover sy ioney or Property belonging ta ihe city or village, oF for any mopey Which may havo been paid, expenided, of res without suthority of lsw, provided thut such tax-payer shall Alo & bond for all costs, ta ba spproved. by Do oieric of 1ho court 1 whieh tho ult 1o Lrought, aud he ehall be lisble for o}l coals in cams tha city or the villogo be cast in the wuit, snd judgment sgainat bim therefor shall Le rendered accordiugly, Any tax- yer may floa LUl for an Injunction Sgainat he llogal salo, trausfer, disposal of, oF acceptanico of any cily property, or to Pmm the misappropriation or wrongful payment of city moneys, or to prevent llogal construction of raiirosd tracks of any d ou the streets, alloys, highways, or publio grounds of the eity, and aléo moy maintau a suit (n bis own pamo to caus the removal of unautkorized ralrosd trecks, or other obsirictions from ouy such Mook, alley, e publio gbway, ‘When it is remombered that nine-tenths of the provisions of the Constitution of Illinols are designed to protect the people againat the corruption and oppression of the Logiala- turo and the Btate officers, and that these restraints aud restrictions have been suggest- ed by tho oxperience of the past, it will be apparont that there should bo some proteo- tion to the public sgainst the frresponsible or corrupt action of a Common Couacil, whose powers totax and whose powera to expend aro greater than oven that of the Legislature of the Btate, and who do sctually expend sn- nuolly one-fourth of all the taxes raised in all the Stato of {llinols for all purposes by Btate, county, city, snd ‘town authorities, A QGovgrnment of this magnitude, greater in o finenciel way thon a large pro- portion of {he States of the Union, is com- ‘mitted to the irresponsible and unrostrajoed disoretion of a Doard of Aldermon, nomi. nated, the mafority of them, in the manner in which Aldermen are generally nominated in large cities, viz.: by the bummers and criminal classes. The people of Illinois, with great propriety, took especial pains to protsct thamselves from the rocklossness and pomdble coruption of a» Btate Logllature, ‘polism all tho same, but the people of this oity, whose publia ex- penditures aro 5o nuueh greater than those of the State, nre wholly unprotected, The amendment we bavo quoted, if mads tho law of the State, would give {he publio the right of redress in tho conrts against any misgov ernment or corrapt abmse of government. The existenco of sueh 8 romedy woull operato ry n honlthy rostraint upon the now irresponsible authority which rules the city, It would deter many & thievikh act, and en- nble the tax-payers to bring to disgraco and punishment many n thieving ofilcial, OUR BPANISH RELATIONS, The United States (iovernment will now he called upon to recognizo tho now Bpanish wmounrchy. 'The molto should be to make haste slowly. We rushod in whon the Span. jards aunounced that thoy had established n Tiepublic. ‘The telograph kind hardly brought tho news before o diplomatio dispatch was sent to Minister Brcrres o recognize the new Republic (7)., Mr. Sunyes mnde an earnest and eloquent appeal that' the ** struggling Tepublic,” as he called it, should bo tnken to our bosom. Congressional patriotism was fired, and we come very near making our selves ridiculous by our premsture and pro- cipitate recognition of an insceure, temporary Governmont which was Republican only in namo, Thoe folly of our hasty action at that timo has been repeniedly demonatrated by subsequent events. We should, at tho very least, sparo ourselves a repetition of it, With reference to the present Government in Spain, thero ia no such temptation, and thero can bo no excusge for such illjudged haste, The simplo fact that the now Gov- ernment is monarchical in form and despotic in action would not justify any undue dolay ; for it is really a matter of very littlo moment to tho United States whother Spain is ealled o monarchy or republic ; it would bo n des- Bat there are other cireumstances which warrant a careful and cnutious examination of the new Goverment before any formal recognition is given to it. In the firat place, thore is no telling whether the Arroxse dynasty may not be replaced ghortly by somo other. In tho noxt place it is a Covernment naturally hostile to the United States nnd thoir interests. It isan ultramontane, pro-slavory despotism. All its sympathies and tendencies are distinctly opposed to those of tho United States, It has ovoh beon stated that Isaperra's son has been called to the throne partly because it was believed he could Lettor unite the various eloments of Bpain in opposition to the United States Govern- ment, There will never be a more favorable time for the rovision of our relations with Spain than the present change of Government. If other nations see fit to tactitly approve of the perpetration of human slavery in Cuba under Spanish auspicos, it is not the prov- inco of our Government to enter an indi vidual protest, But thero ave cortain matters in which our national dignity and national prosperity demand an interferonce. . Wo ghould jnsist upon a prompt settlemont and full satisfaction for tho outrage put upon the American flag and the slaughter of Amer. ican citizens in the Virginius affair, After this has been accorded, o demand should be made upon the Spanish Government to re- poal its discriminating export and import duties against American produce and in- dustry in Qubs, which necessitates our pay- ing $70,000,000 a year in gold to make up the difference between what we buy from the island and what wo sell it. It will bo time enough to recognize the new Government ond resume formal relations when we shall have a trustworthy assuranco that these mat~ ters will be adjusted on & fair and reasonablo basie. No sympathetio nor sentimentsl rea- sons ean now bo cited why we shall commit ourselves before justice has been done us or assured to us, BOSTON AND CHICAGO. Tho Boston Globe of the 1st inst. prints the details of & proposed gigentio entorprise in- tended to bring Boston and Chicago into closer and more intimate communication, to dovelop tho busincss interests of New En- gland more thoroughly, and to secure to Bos- ton 8 fairer shave of tho transportation of ‘Western produets. The onterprise has been inaugurated by the Mesaschusetts Transporta- tion League, and has taken the shape of a bill, which will be presented at the forthcom- ing session of the Legislature, for the incor- poration of the Boston & Chicago Railway Trust Company, The bill is so drafted that tho people will have a direct voico in the arrangemont, eo that the corpora. tion cannot bs managed for the ben- cflt of a ring of speculating stockholders ot the expense of the peoplo, It provides for the establishment of o sinking-fund from the earnings, to be placed in the hands of the Btate Treasurer, 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 managed at the cost of maintenance, Tho details of the plan embrace two gen- eral mensures, the firat of which is the secur- ing of terminal accommodations by makiog a consolidatod line from Boston to the New York State line, For this purpose the cor- porators ask the authority. to acquire and control the Southorn Vermont, the Troy & Greenflold and Hoosac Tunnel, tho Massachu. setta Central, the Boston & Lowall, the Ver- mont & Measachusetts, and the Fitchburg Roods, which they estimats will cost as fol- lowa: gy Jemy s T 12 Massachusetts Central Boston & Lowoll, Verinont & Aassa Fitehburg, ,000,000.00 Total, . £20,811,603.0 The second measure is the construction of the main ling, the Boston & Chicago Rail- way, via the Niagara River, the distances and cost of which are given a8 follows : Hiles, Doston to New York Hlate lize, vis ps Mne, 180 Stats Line to Niagars River, via proj 819 Niagsrs Ditver to %hk‘za, via Canada Southern,,. dtd Total suvsranis sravesersrsnsrisnrinnes Cost, including double tracking with steel rails, to Niagara River: Totalyson s srenasssssssasssnsensaasaes s s§04,81LEGL Tho totol cost from Boston to the State line includes the complotion of the Massnchusetts Central and Vermont & Massachusetts Roads, which adds $8,000,000 fo the amount first stated. In addition to the main line, the cs. timates are given for four branches. The first of thess {8 & brauch of 10 milea from Troy, making conneotion with tke Exio Canal &t Schoneotady, which will shorten the dis- tancos from Boston to Binghamton, Utica, Baratoga, and the coal mines of the Delaware and Hudson Cansl Companies. 2. A branch of 60 miles to Clayton furnishes connection with the Grand Trunk and Qeorgian Bay. 8, A branch of 40 miles makos the shortest toute to the east end of Yake Ontarlo, aud opons rall and water com:nn: with Georgian Bny, besides muaking conneetions with Oswego, Itowe, Ko Syracuse, and Fairhaven, on Lake C 4, A branch of £0 miles, contoetir ¢y Tako Evio at Bufalo, and, hy meaus of 'y Batfalo & Jamestown Road, with the A1 tic & Great Western Rond and tho oiir. gions, Tho estinmted cost of the mein lina and their four branchos is ntaled as 1 Mova: Main Hno (seo line No, Helienoctaly Brancii, Cluston Dranch.. Tako Ontario Dr Bulfalo Lraoch, . Tatal... . : Tnasmuch as tHo cost of the Boston & (. engo Rond is one-third less than that of o shorter ling from New York City, @ th lines oro waterod up, and the distan ond as the former's dividends are lin: law to 6 per cont, aud the people o rageously taxed to pay the dividends of the latter on their watered stock, thave not only scems to be no reason why Now Eu. gloud will not secure her full share of the ‘Western trade, notwithstanding the incvitable howl whick will be raised by the New York stock gamblers, but no good reascn why this new rond should mot regulate freight chinrges and crush out the proscnt despotism of railrond monopoly. The hil will undoubtly pass the Legislature, ns it is clearly in tha interosta of all New Eaglond, aud the State will receive ample compensa. tion for tho interest it Las in the Lroy & Greonfield ond tho Southern Vermort TRonds. Not tho lenst important forture of the new plan would be the practical eoftic. mont of the Hoosno-Tunnel question, which is o sort of whito elephant on the hands of the State, atloy abort ———— ORGANIZATION OF THE LIGIJLATURS, The Legislature of the State of Illinoin will meet on Wednesday., For the first time in many years thore will bo somo troubls in the organization. Neither Democrats nor Republicans have a majority in either Iouso. Those clocted nsIndependents aro sufficiently strong to prevent either party organizing cither House, Nevertheless, tho whole num. ber of thoso elected ns Independents is com. paratively small,—too small to support any pretonso of conatituting a third party. There is no ocension, nor is thero any principle in volved, nor isauo at stake, to justify men who have been Republicans or Democrats all theiz lives to set {thomselves up as an Indopendent party. To do 8o, will bo only to delay the organization of tho Legislature. It is likely, however, that tho gentlemen who have been electod a8 Independents will aflliste with tho two parties according ta thoir previous sympathies and predilections, Those who havo been Bourbons will act with tho Bourbons, and those who have boen Re. publicans will act with the Republicans, There have been so far no canvass of candi. dates for tho Bpeakership of cither House, The Lieutenant-Governor being mnow the acting Governor, tho Benate will have ta choose a presiding officer to serve for twa years, For this office Senator J. O. Hamves, of Cook County, has been urged. This gen. tleman, though nominated by the Demo. csats and Independents, recoived nemrly as many Republican votes as ho did of the Opposition, Ho bas been a Republican all his life, and will unquestionsbly sot with that party on all party issues, though he may refuse 1o be bound by the action of any party cancus, His brother, Mr, E. M. Haxves, rep. rosonts Lake County in the Honse. He, too, was elected as an Independent, but, having noted with the Democrats for several years, he will probably continue to afilliate with thom heroniter. If the othor Independents ndopt tho same sensible and practical conrso, there will bo no difficnlty in organizing eithes House, and conducting the business of ' the seggion smoothly, The candidate by gereral consont of the Republicans for Bpeaker of the House will be Mr, 8. M., Cpz- roy, of Springfleld. Apart from par- ty considerations, his election would bo gratifying to all the membors, and would greatly expodite business. Ho is probably the best presiding officer in the ‘West, and in s House composed, as this ont will be, of new and inexperienced membeors his election would ba a publis benefit, 4 very lorge proportion of the Democratic moembers would rojoice in Mr, Curiow’ election, though they may not feel at libert) to vote for him. Both parties, however, wik ignoro any ‘ third party.” Whatever im pression or opinion may have prevailed year ago as to having a third party, it exist! no longer. The country is preparing itscli for the.great battle of 1876, when the contes! will again be nerrowed to a choice betweon the Democrats and Republicans, and all mex will by that time fall into one or the other of theso National organizations, If, then, the members, on meeting next Wednosday, shall accept the political situntion ns it stands, and vote ns their past political afliations suggest, thers will be no difficulty or delay in th organization of the two Houses of the Legis lature, THE SENATORIAT, CONTEST IN WISCONSIN, The Bouatorial contest in Wisconsin lu bee coming warm o tho time appronches fof the moeting of the General Aesombly, The Janes. ville Gazelfe, whioh hes boen on the fence for some {imo [ast, has ay Inst declared itesif wn favor of the re-election of Benator OampExTER, claiming that tho influeniial men of the Stats, who were friends of Gov, Wasmnunx, are coming out daily for Mr, CAnrENTER, “ who i likely to be re-cleoted without opposition,” whereupon the Yornon Censor froosita niiod aftes the following mauners As Bir, CANPENTER 8 now presred as ' one whost diapontion s to reprosent the wishos of tho people,t sk 11 8l candor whist tho wislios are which he hua #0 honestly roprescntod? Did he ropresont the wixhes of tha pooble of Roek County or of the Btate, when ks votod himself 85,000 Luck sy aud $5,000 forward pay, snd dofended the act afterwerds in a’ speech st Junuse vilio? Did ho sepresent tho, wislies end 1noral sentic ment of the peoplo when ho told thewm fu poech thiat it was Recesvary for memibers to b riot larga euough to enable them to keep their fumiliea in Woslington, or else they would avail themolves of fumaily yrivilcges at tha cost of scmabody else? Did bo represent the wislies of the yeople when in thd same epooch he dofended the Credii-Mobilier tionists who robbed the Government of over 30, 000, Aud ia that what they ocall oficlal ine legflfl W, 1d bo represent the views and wishes of Republi~ cans when hio opposed the abolition of the frankiug "'Hvll:ue. a measure demunded i the National Repub- cau platform ¥ Djd be represent thom in opposing Civil-Service Ro- form, 6130 & measuse promisod in our natioval plate form'? DId ha represent them in oppoalng the Clvik Mights bill1 Dfd ho ropresent thelr viaws and fealing when he defeuded fraud wnd corruption in .the case of the oor rupt Benstor CALDWELL, aud 8 tut what 18 now called “otcal tntegrity"? Did Lo repest theie views in sdvocating and voting £0F su infsmous gug Law (bis own, which was rlefeated), dvalgued to muzzis the press sud’ keep tha delinquense cica of members of Congress from reaching the ears of thelr constitueute ‘We dosire nuswers to these questions, {boy bre unawored e may bave o few mofe 10 pro- pound, If thess questions cannot ve auswered in the atlirwative, then wa aak the Gavelts to name tho par- tloular s¢ts wherein b b OWn a0 great a disposle tion to reproseut the viows of tlie peopis, for they have ertainly escaped our uatice, An to o wixtoment that jufluentlal citizons from all ta of the Btate are coming vut for Mr. CABPANTER, ‘au only aay that wo have not heard of auy such in this part of the Krate, 'Tue Couuty of Vernon, wilh {ts 1,503 to 2,000 Ropublican majority, cuntaine bud 016 07 two nuieinbors of the Repubilcan party wug an kuown 1o be willing {0 suo Alr, Ouupsutus 10 $ho bouste, Lo Urusns Cousty ia squally unani 28 Ia every coiuty hu. thia Congoctuel. Blatre erbaja vue wacoplions The People of Uress, - SO S O R S W | A R W s