Chicago Daily Tribune Newspaper, February 2, 1875, Page 4

THE CHICAGO DAILY TRIBUNE: TUESDAY, TERMS OF THE TRIBUNE. RATER OF AURACTIPTION (PATARLE IN ADVANCE), ve bermninae Heenald at this lees ag by sooo BABS By + BSA Paeceiy bag ecb 2.00 Partacf aye ‘To prevent delay and mistakes, bo era and give Post- Once addr fall, including State and County. Remittans ay bo made eltharhy draft, exptoss, Post Gfice odor, er In registered lettre, at our risk, ‘TREMS TO CITY SUNACNINERS. Datly, delivered, Sanday execpted, 2:5 cents per week Daily, dolivered, Bunday included, 30 conte per work addren THR TRIBUNE COMPANY, Corner Madison and Deathnrn-sts,, Chiesgo, 1, TO-DAY'S AMUSEMENTS. ACADEMY OF MUSIC—Halsted streot, between Mad> Yeon and Btonrce, ** Gran Uallo."” ROOLEY'S THEATRE—Nandotph street, betweer Olark and taSalle, ‘* Magnolia.” ADELPHITHRATRE—Dearhorn street, corner Mor- te. Variety entertainment. "The Field of the Cloth of Gold.” M'VIOKER'S THRATRE—Madlton atreet, botveen Braun and State, Engagement of Mrs. D. P. Mowers. Camille.” OHICAGO MUSFEUM—Monron alreot, betweon Desr- bornand State, ‘Scandal. Afternoon and svenlug, DP OPRRA-HUUSE—Clark | atree! RMT touree ically & Leon's: Minstrels, Orimmeon Sear.” ite PRT $5 LL—North Clark atreot, corner Kine Hesctegtare by M, Andrawe, Subject. “Dialect jumor." “SOCIETY MEETINGS, ASITLAR LODGE, No, 28, A, Fe 2 A, M.—Roge is coning ini thelr hall, (Free sharcenequg, sky (Rowe) etn tn tele a eres » A. Degres, The fratart 5 Stated Conclare of 4 st dery,, 3 . T., this (‘Paesday) ovon~ Aeeee ar atalace. at ties xaylam, for Buainnss and work ATTENTION, SIR ting Bir Knights courteously invt- ” "'B, B. W. LOCKE, Recorder, neers nay BUSINESS NOTICES. WR MRAN ALI WE SAY,—FULL SET BEST GUM toeth, 28, Satisfaction or monoy refunded. Fililny 1» fice URE: Saat thio wsunt eaton MeCHISNRY, #8 Clark-at. INDEX TO ADVERTISEMENTS. THIRD PAGE-City Real Estate, Wanted Rest Re. tate, Wants, To itents, lost. and Found, Business Gunjoor, Norros and Cacriagos, Financial, Housoholt SEVENTH PAGH-Aniveements, Railrosd Time Ta- bio, Bteriical Cardu, New Publicatlins, eto,, oto. Che Chicags Gribune. Tuesday Morning, Fobruary 3, 1875. ‘The supporters of Mr, Carpznten in the Wiseénsin Legislature havo determined to make a stand to-day and call for half-a-day's balloting. Such a course will not injure Mr. COanrenten'’s prospects, which aro as bad now ng they can be. ‘Mr, Scasnron and Mr. B.F. Anten seom to have been ruined financially in much the game way. Both wero reckless bankers; and it may be said, too, that both owned stock in the Inter-Ocean. Singularly enough, tho affairs of both oro pretty well shown up by articles in this morning's paper, The mysterious book for which the British Government has offered £1,000 was found in Louisville, Ky., on Saturdny, and yesterday it wos found again in Boston. To-morrow fragments of it will probably bo picked up in Duluth and St. Louis; and by next month we shali hear from Son Francisco and Alaska. It is tho epizootic and Cuanney Ross over again, New developments in relation to the Mem- phis & El] Paso Railrond ond its operations through the lobby at Washington have beon mode by the New York Sun ; and it is now believed that ‘Tom Scort’s subsidy scheme will in consequence bo defonted in both Houses. Tho suggestion of bribery in Con- gress on behalf of the bill is too strong to be repressed by mere denial. The action of the Democratic party in Con- gress with refurence to legislation upon the proposed Civil-Rights bill not only shows that thoy are still offlicted with the negro upon the brain, but also that their professions of reform ond assertions of principle are simply bosh. ho very man whom they de- nonneed before their constituents lnat fall they have taken for their leader and followed liko sheep in tho disgraceful filibustering which bas been going on so long at the publica expense, The Hon. &, J. Rapa last fall ‘was denounced as a salary-grabber and a high tariff monopolist, and yet at the very first opportunity tho Free-Trade Reform Democ- racy choose this high-tariff salary-grabber for s leader ond follow him implicitly. Coming events cast their shadows before, and this shadow shows very clearly that, if tho country expeots any reform from the Demo- cratic House or any adhesion to principle, it is doomed to be grievously disappointed, An- address to Congross and the country has » been issued by a number of colored men who happen at this time to be gathered together in Washington. The most proiinent signers of it are Frepensex Dovanass, Prof. Joan M. Lanasroy, and Groroz Downie ; but it is understood that Pimciunace, Rarien, ,and other Southern politicians spprove of the sentiments expressed. The address will do more execution at the breech than at the muzzle. Itis aimed at the Republican party, but {t will hurt only the Southern ne- gvoea belonging to the party. Thoir in- ‘terests cannot possibly ba advanced, for in- stance, by the statement that they will be forced in eelf-defense to oct with the Demo- cratic party unless the Civil-Rights bill is passod. We do not understand how a man of any intelligence could have fallen Into so gross a delusion. It iss much os to say that, unless the negroca can have all they want from the Republican party, thoy will ‘take what they can get from the Democratic party ; that is, they will fly for proteation to tho people from whom they desire to be pro- tected, The truth is that the Republican party has provided amply for the protection of the negroes in the exorcise of their politi- cal rights ; and, if it has errod at all, it has erred in kindness to the negroes. ‘The Chicago produce marketa were slow yesterday, except in provisions, Mess pork waa active, and 20@80c per barrel higher, closing at $18.60 cash, and 818.72 1-2 seller March, Lard was active and 5@100 per 100 . ibs higher, closing at $18.47 1-2 cosh, and 813,07 1-2 for March. Meats were in good demand and firmer at 6 1-20 for shoul- ders, 9 1-20 for ehort ribs, and 100 for short olears, Dressed hogs wero moderately active and 150 per 100 lbs higher, closing at $7.50@8.00. Highwinea were quiet and ateady at 08 1-20 per gallon, Flour was quict and unchanged, Wheat was leas active and easier, closing weak at 87 5-80 cash, and 88 8-40 for March, Corn was quiet and firmer, closing tame at 64 1-20 cash, and 720 for May. Oats wore in fair demand and a shade tirmor, losing at 52 5-80 cash, and 680 for March. Rye was more active and exaler, at 06@070 for fresh, Barléy was quiet and o shade Brmor, clouing at $1.25 3-20 oxsh, and PLo6 Se for Basch, Hogs opened active and stronger, but closed quiet and ensy. Kales at &6.25@7.40, Cattle aud sheep were in fair demand and finu. ee Anew rule was offered in tho House yes- torday by Mr. tare, of Maine, witha view to restricting dilatory motions on the part of the minority, and giving to the majority a rensonable control of the House, ‘The reno. Intion was roferred to the Committes on Rules. It was very temporato and frir, and ought to have been reported back at onco and adopted. Unfortunately it was not. Mr. Burien mover’ to suspend tho rules and allow the Committee to report, but the Houso refused to agree, not two-thirds voting in tho affirmative. Another motion.of a similar tonor met with tho same: fate, Tho House thon took a recess until to- day, when the wholo matter will come up again, aud probably the Republicans will bo ablo to carry 9 two-thirds vote. Tho oppo- sition of tho Domocracy toa voto on the Civil- Rights bill, since it was conceived in foolish. ness and exeented in absolute contempt of the pnblic good, must by this timo have pretty thoroughly disgusted the people, Wo aro glad to point to the record of the Repab- lieans in this matter, and to say that, under strong provocation, they have shown great respect for law and preecdent and for the privileges of the minority, as well aso desire to trananct tho business of @ie couniry promptly and honestly. The recent victory of the gamblers is by no means complete. Justice hns mae one moro effort to vindicato herself in the manly and vigorous charge which Jndgo Wit1i1aus de- livered to tho Grand Jury yesterday, aud which will bo found elsewhere. Tho Court dwells very largely upon the general preva- lence of gambling and the manner in which the Police Commissioners allow it to be prac- tied with impunity, and calls the attention of the Grand Jury to the fact that, althongh the Inw is slightly imporfect, it can bo so en- forced ns to prevent gambling as a public amusement, and compel the gamblers to hunt their holes and dens in tho dark instend of plying their villainous vocations in broad daylight and in publio places, The charge of the Court is uot only a notice to thog gamblers and other criminal classes that the law will again confront thom, but it is a moral indictment of the police foreo and the Polico Commissioners, charging them uot only with dereliction in duty but with connivance with the gamblers, ‘The Grand Jury should indict tho police officors for their shameful and criminal neglect of duty in not breaking up tho gambling dens which infest the city and aro ruining hundreds, perhaps thousands, of our young men. Judge Wintiaus will havo tho sympethy and support of the respectable citizens of Chiengo for his determined and manly attitude in defonso of their rights and his efforts to remove the disgraceful practico which has been fastened upon the city undor the auspices of the People's Party Police Commissioners, and which is injuring its good name abroad and ruining its young men at home. REDEEMING GREENBACKS IN BONDS, ‘We have had occasion to refer to the prop- osition adopted by the Farmers’ Convention of this State and of other States, in which they urge, as 4 solution of the currency question, the issue of National Treasury notes, exchangenble, at the pleasure of the holder, for national bonds bearing 3-65 per cent interest. This scheme seems to have made a deep impression upon tho minds of 8 large portion of the agricultural population, and while in the form it is presented it would bo fatal to the credit of the country and af- ford no present or future relicl, still it ix possible that such » proposition may bo so modified as to accomplish the great end of a re-ostablishment af public credit, ‘The Farmers’ Convontion of this State put their proposition in this form : That the Government shall supply nations! paper- money diroctiy from tho Treasury, mado » full leval- tender for all debte, publlo and private, including duties on imports, to bo interchangeable for reglstored. onda bearing 3-65 per cont intorest, ‘This of conrso méans unlimited inflation and, it might be added, unlimited debt. The purchasing-value of the greenback would in no wise be advanced by the privilege of ex- changing it for a bond payable in greenbacks with interest in currency. Bords and green- backs would both rundown. Butif the Gov- ernment wonld authorize holders of green- backs to receive for them bonds payable at a given date in gold, and the interest, sny at 4 per cent, payable semi-annually or quarter- ly in gold, then the value of the currency would advance to that of the gold bond, andthe value of the bond would advance as uear to par as the rate of interest would be to tho lowest value of monoy, At all events, the bond would give stability to tho value of tho currency, would put an end to the sudden and continuel fluctuationa which now render all valuations of all property so uncertain, aud would tenninato the gambling and speculation of the Gold-Room in Wall street, ‘The moat serious differonce between tho ef- fects of this monaure and of that proposed by the Farmers is that o portion of tho green- backs would be retired and the volume of that description of currency contracted. But with Free-Banking, which is now the law, there could be no stringency, for those who had onything valuable to sell could always obtain the market value therefor, But even the greenback contraction will be more in name than in fact. ‘The option to ox- change the greenbacks for bonds would give to tho grocniacks the value of the bonds, The inducement to invest them in the bonds would be to secure the interest thereon, Tho bonds themselves would bo of a character that would preclude thoir being sold outof the conntry to any éxtont. Being issued in denominations of $50, $100, $500, and $1,000, they would be- como the conyenlent form of currency with which to pay the large-class sums and to uso in large financial transactions, They would take tho place of the 8500 aud $1,000 greon- backs ; they would become a most desirable currency for many purposes, A man accu- mulating money to pay a debt would scelt them in proference to greenbacks, because of tho intorost, During the War, there was an instance of this kind in the 7-30 notes issued by the Government, which bocame o most popular currency, especially the notes of the larger denominations. While these bonds would thus answer all purposes for large pay- ments, the National Banks and the Treasury notes would furnish oll the currency nosded tor small Ananclal tranenotions, ‘The Farmers, in thelr proposition, concede that, when the Government is not prepared to pay its debts on demand, tho creditor ia entitled to a bond bearlug interest; but hav- ing concaded this fact they inconslatently prcposs that tho bond shall never be pald, wud tho interest shall be paid in the same kind of already ovordue and protested paper! By making the bond ultimately payable in real woney, andthe interest poyable in somes thing ns substantinl in valuc, the creditor receives somo meed of justice, There is not a creditor farmer in Mlinois who would re- ecive in payment of an overdue note the debtor's other note payable at no time, and hearing interest payable in the debtor's due- bills, Yot this is the precise thing they reconunend to the holders of the greenbacks when they propose an exchange of the notes for a bond which, principal aud interest, is to bo ‘paid in the non-interost-bearing and irredeemable notes, ‘Chis is foolishness and absurdity, The exchange of tho notes for s bond pay- able at some time, with interest payable in real money, would make the currency equal to the face of the bond at all times. The Gov- ernment would be relieved of the odium of an irredeomable enrrency; it would be no longer inn condition of suspended credit, and tho problem of resuming specio-payments ‘would bo solved, as it cau only be solved, by the Government taking up its overdue de- mand paper by the issue of 5 new and inter- est-bearing time-obligation, Much time has been wasted in the discussion of how tho Government is ovor to get coin enough to resume specic-payments, and various plans lave been proposed for selling bonds for coin and then buying up the currency. Tho United States is not a mercantile firm, doing business on capital aud denling in commod- ities, noris ita bank discounting paper. It is a purely govornmontal machine, supported exclusively by the proceeds of taxes, It has no other resources. When it is unable to pay a debt, it has no honorable way of dealing with the creditor save by giving him on inter- est-bearing time-note, Tho Government has nothing to do with suspension or resumption of specie-paymenta, It has to provide by taxation for the payment of the intorcst on its time-notos; and the principal thereof as they fali due. It has to provide by taxation for its current expenses, and when, from any cause, it is unable to mest its demand obliga- tions, it must give the creditor a time-note, When it does this, it lias resumned paymont. It bas nothing to do with the business and commercial transactions of tha country, which regulato themselves, and will naturally fall into gpocie-payments the moment the Government takes its discredited paper out of the way, and ceases to make its shinplas- ters asubstitute for real money. The Gov- ernment is under no necessity to buy or bor- row ndollar of gold to resume specie-pay- ments, It can resume now as well as it can four years honce. It has morely to offer to tho holders of the greenbacks a long 4 por cent bond,—interest and principal payable in gold,—and the wholo volumo of Tronsury notes will gradually disappear, and, while so doing, will advance in value ss to require no redemption in gold. When the Govern- ment has thus restored its credit in the only form in which an honest Government can or ought to do, then the field will be clear, and the tredo and commerce and the capital and labor of the country will lave no difficulty in reaching o specio basis and maintaining specic-paymonts, CHICAGO AND HER MALIGNERS, Just at the prosent time thero is a great deal of municipal malevolence afloat against Chicago, in which St, Lonis takes tho larger part, the remainder being about equally divided between Milwaukee, Louisville, Cin- cinnati, Pittsburg, nnd New York. In somo of tho named citics tho cause is apparent, namely, chronic jealousy of 9 successfulcom- petitor on the one hand, and encronchment upon trade on the other. What ails the reat is not so apparent, except that they havo formed n habit which they cannot shake off, of sucering at Chicrgo, of belittling her energy and enterprise, of inquiriug “why she doos not pay hor debts,” and throwing her mort- gages inher face, Tho facts will show that this treatment is ungencrousand uncharitable, and not warranted by anything in her past records, ' ‘The present condition of Chiengo can best be appreciated by n glance ut what Chicago has done within the past few years, The fire of 1871 wns a calamity vastly greator than has ever visited any other city of this country. In n single night it destroyed tho very heart of Chicago, wiping out its busincss, and leav- ing only a fringe of wooden houses on two sides of the city, It destroyed the accumuls- tions of an average lifetime, the savings, not of speculators, but of the pioneers and indus- trious builders of the city, In that brief dozen hours $200,000,000 of property wera extinguished, and 200,000 people found them- selves either without homes or without places : to do business, heir stores, counting: | rooms, warchouses, manufactorics, shops, banks, insurance offices, telegraph offices, , railrond depots, churches, hotols, theatres, , printing offices, and the public property wero’ reduced to dust and cinders, The sy;npathetio | world contributed to her relief, and the homeless multitudes of citizens, with a courage which has nover been excelled in the records of great calamitice, among which | this was the grdatest, without a word of ro- | pining or an expression of hopelessness, act to work to replace what had been so sudden- ly swopt away, andin two yonrs’ time a new and more beautiful city rose out of tho ashes, ‘Then camo the universal financial panic, al- most without warning, and paralyzed the in- dustrics of the country, awopt away banking institutions, paralyzed commerca and indus. try, left the chaunels of trade dry and bere, and resulted in a general aud enormons shrinkago of values. Other cities, howuvor, had not been burned up or ewept of their ro- sources, had not lost the accumulations of n goneration of toil, had not been compelled to robuild themselves, Chicago had but just regained her fect after the stunning blow of 1871 whon the storm of 1873 struck her, Had she onjoyod the good fortnne of other cities, sho would have so strength. ened her yesonrees «ond built up her business that she would have laughed at the panic and made no complaint of “hard times.” Aa it was, even in tho face of all tho obstacles with which ahe had been contend. ‘ing, she woathered the Mnaucial atorm as suc. cessfully and with Jess damage {han almost any of tho more favored cities now sneoring at her, Thero have beou fowor bankruptcics ing Chicago, growing out of the panic of 1878 ond the stringoncy which baa followed it, than in several other great cities of the country in proportion to population, Thon followed another fire in 1874, which left 5,000 peoplo homeless and added to the financial embarrassment by heavily inorens- ing insurance ratos, requiring gnother deter mined effort to replace what was destroyed, ond this hag been well-nigh scoomplivhed in the short space of lelf a year, In robuilding the olty it was necessary to build larger and stronger than boforo, with o view to pormanonce, aud to make ita struc. tures of brick, fron, or atone, A few wero able to build out of their own remaining ve. sources, Some had to borrow small amounts ond some large. The building was done ata tire whes worklogmen were exruing twice FEBRUARY 2 1875. their usual wages, and when all material was doar. Insuranee was virtually of no help. The 26,000,000 or $8,000,000 collected from ihe home companies was sunk, because it camo out of the pockets of the very men who had suffered most severely. "The $40,000,000 of forcign insurance were consumed in the excess of tho cost of building over the usual rates, so that the actual loss of property and cost of replacing it were simply enormons, Contd Chieago have replaced her buildings at the building-rates which now prevail, these ungencrous carpers would hnvo dnt small reason or opportunities for their unmnnly taunts, But even amid theso un. precedented discouragementa and trials, Chi- cago has not only replaced her dwellings and places of business, but has placed her streets and sidewalks in order, rebuilt her bridges and viaducts, public buildings, school-houses, engine-houses and police-stations, and after laying out nearly $3,000,000 for extending and enlarging hor water facilities and $2,000,000 on sewerage, has mado her firo limits co-ex- tonsive with tho city limits, aud put an end to constructing wooden structures. Such facts as these show the want of charity and com- mon fairness which is entertained towards this city, Wehopo no similar calamity will over visit the maligners of Chicago ; but, shonld such a calamity occur, Chicago will watch the recuperation with much interest and sympathy to seo wherein she will be ex- celled in enterprise or cnergy, credit or cour- age. A CONFESSION FROM PENNSYLVANIA, We have received some circulars from tho “ Anti-Crisis Ienguo " of Philadelphin, Very noteworthy things they aro, ‘The A.-C, League declares that our foreign debt, owed by the nation, the States, corporations, ete., is somewhere between $1,200,000,000 and $2,000,000,000, The interest on this debt is alleged to be:from $72,000,000 to $120,000,- 000. We must, therefore, export this amount of specie every year to pay interest alone, Nor is thia nll. We have “bought, annually, during tho last cloven yenrs, on au average, 100,000,000 .worth mora merchandise than we sold.” ‘This surplus must bo pnid for with gold. “Thera isa necessary demand,” says the Anti-Crisis cireular, “for from 9172,- 000,000 to $220,000,000, with an annual production of only about $60,000,000 of coin and bullion.” Our annual product of specie is somewhat groater thas the fignres given, but the differ- ence docs ‘not affect tho substantial accuracy of the argument, Tho “ Anti-Crisis Leaguo” ia quite right, During cleven years, that is, during the timo since « high tariff got into full operation, wo have been steadily piling up our forcign debt, until now onr interost-pay- nents to ¥urope far exceed our annual product of-specio. Pennsylvania has had tho tarif’ raised nechly a dozen times ince 1861, Her boasted ‘fheory of -* Protection” has had a fair and n lony trial. Now comes tho confes- sion from Philadelphia, the headquarters of “ Protection,” that while the tariff, which was to moke us rich ond independent of all other nations, has been in existence, our dependence on foreign nations has constantly inereared! What, indeed, has tho high tariff dono for Pennsylvania ? Tier furrieces are blown out, her factories aro idle, her mines avo abandoned; Tom Scorr declares, in his printed ploa for o subsidy, that ho had ordered iron from a number of Pennsylvania works simply to give them n chance to employ their men; and the whole State groans and wails over the depression of her business and prays the National Gov- ornment for help. Let the condition of things in Pennsylvania to-day answer tho question, ‘* Does Protection protect ¢” The. Anti-Crisis Tfeague, secing that wo eaunat pay for our imports and our interest on forcign debts in agricultural products and gold, remarks with great forae, Wo must havewuother wey to pay our interest; we must pay it with merchandixe." Precisoly so, We must export more; Tho product of the plow and the hoo must be roin- forced by those of the loom and the anvil, At presont we oxport little exdopt the surplus crops of our farmers, Oor exports, therefore, contain comparatively small value in great weight and -bulk, and therefore the cost to the value of sending them to foreign markets is exccasively great, end leaves but small profits, One-half ofour population live on farms; the other half in towns. It is not possible that tho 20,000,000 of farmorsa should export onough grain and meats to pay for all the foroign articles con- sumed by 40,000,000 people and defray the interest on our forcign debt besides, We must sot the other 20,000,000 of townspeoplo to exporting their surplus products, Womust send abroad articles upon which much labor thos boen expended, and which, therefore, have great value in small spnco and weight. Every hour spent by an American mechanic on an exported article helps to pay for our importa and defray our debtanbroad. It adds value (purchasing-power) to the commodity, It is absolutely necessary, if we are to honor our paper held in Europo, that wo should pay our interest with the aid of steam-power,—in othor words, with merchandise, We must then export more merchandise, Bo far tho Anti-Crisis League is quite right, Tur Tamune agroes with it in its unwilling declaration that * Protection" hrs put the country, including Penueylvanin, into a piti. able plight, andin its suggestion, that the way to got out of our troubles is ‘to export more merchandise,” we are in porfect agroc- ment, How does tho Longue proposo to carry ite suggestion into effect? ‘The rerson that wo do not now export our mannfactures is be. cause high duties on raw matorials ond on articles of universal consumption mako the manufacturer pay more than his foreign rival does for the mnatorial which he works up, for the wagea of the labor ho employs, for the machinery bo uses, and for tho transport of his products from the placa of manufacture to the seaboard, Hoe cannot, therefore, com. peto with his rival in the markets of the world. ‘his is what the high tariff docs for tho manufacturer. It gives him somewhat higher profits in the limited homo market, but it shuts bis goods out of all other matketsin the world, Since, then, our great need is to incroaze our exports, and since a high tariff provents exportation of everything except unprotected farm products, the plain remedy is to reduce the tariff, which operates exaotly asa probibitory export tax, Then ex. ports will increaso and tho end sought will be attained, ‘This, however, is not the remedy proposed by the Anti-Crisis League, But what do our readers suppose itis? A Pennsylvanian’s pet panacen is to raise tho tariff, The Loague, true to the traditions of its ablding-place, sys: ‘* You must increase the duty on im. port$, and give all the money received from ins oreased duty to the exporter as a bounty"! ‘The tariff has made monufectusing in this countsy wo oxponsive that its products cannot becsported The dO, League propose to help the case by making manufacturing far more expensive still, and then, by confiscating tho eustoma receipts, doling therm out as boun- ties to manufacturers who wish to export their wares, It wiehes to have the consum- ing public taxed moro heavily than now in order to pny special bounties to man- ufacturers, For example: A manufacturer in Lowell will ship uf cotton and woolen goods what conts him 100,000 to Germany and sell them for 876,000, Ie is than to be entitled to a bounty ont of the National Treasury of 825,000 to minke good his toss, and this bounty monoy is tobeobtained by increns- ing the faxes on the general public. ‘This is the Intest development of the Pennsylvania iden of “ protection to home industry.” + It in needless to wasto words on the mon- strous folly of ascheme which proposes to mako men rich by taking 810 from them and giving back about $6. Wo wish to call at tention, however, to the fact that this Anti- Crisis Lesguo, composed of rabid Pennsyl. yanin Protectionists, admits in its circulars that Protection Las proved o flat, fatal fail- ure, and that the only way out of our difil- culties is to increase our exports of mnnnfao- tures,—which “ Protection ” prevents,—and that, under tho existing tarif, little or noth. ing but farm products can bo exported. Hence ‘hard times,” incroasing foreign debt, drain of specie, and general stagnation, TAXATION BY TARIFF. Afow daya ago we published some facts relating to the present condilion of the iron trade, from which it appeared that in Decem- ber tho prico of forcign rails was $82 per ton, while American rails were solling at &73, Wo furthor enlled attention to the fact that our American manufacturers were able to so un- dersell the British that they exported large quantities of iron and steel to Canada ; that there was no British bar-jron imported to this country in 187, and no pig-iron except small quantities of Scotch pig uscd to mix with tho American pig, Upon this state of facts the Rockford Register comments thus : Now, tating theao etatementa to bo fate, and wo have no doubt thoy aro such, why should ‘Tax Trin. Ux, or anybody, care what tho tami {son fron? If no forcign fron is bronght into tne country, for tha roagon that American iron can be sold boro cheaper, what difference doca it make to the producer whether the duty on tho foroign article ia $10 or 210,000 a ton 2 And why wasto timo in Sighting o tax which nobody {a callod on to pay ? The Register very evidently means well, but fails to understand the objects and opera- tions of a protective tariff, Whon the Ameri- enn manufacturer, protected by tha cost of 8,000 to 4,000 miles of transportation, hy the preseuce hero of an inoxhaustible supply of chenp food, cheap fuel, and cheap raw mate- rial, can sell his productions in Canada at « lesa prico than the foreigner, the object of tariff or inx on tho foreign article is unneces- sary for any honest purpose, Tho present duty on pig-iron is $6.80 per ton, in gold. Assuming that the foreign article snd the American are produced at the furnace at tho same cost, the foreign article cannot be sold in this country without adding thereto the cost of transportation, the expenses of handling, warchousing,: insurance, and premiumon gold. The Amer- ieau manufacturer, therofore, has the coutrol of the market within the rmargin afforded by this ndditional chargo. In addition to this, the Government lovies a tax of $0.80 per ton in gold on tho foreign iron, making a total addition to the foreign price of the foreign iron, eny, of $10 per ton. Tho American manufacturor, thorefore, has 8 margin over and above the cost of producing his iron of $10 per ton. This is cortainly large enough to exclude the foreign iron from the market, and would do so if the American maunfno- turer did not advanco the cost of his iron to the same price at which tho foreign can be sold here at a profit. The prices of tho two articles being thus made tho samo, no foreign ison is imported and sold here, but the Amer- ican consumer pays a tax of, say, $10 per ton, uot one cont of which goes into the Treasu- ry. In the meanwhile the monnufacturer ships his surplus raila to Counda and solls them at $8 or $9 per ton lower price than ho demands in the “protected” home market. Does tho Register soo where the joke comes in now? Two years go, the ‘long strike” of tho eolliers in England had the effect of advanc- ing tho cost of producing iron to such an ex- tent that it commanded a very high price, Instantly the prico of iron in this country was advanced to the lowest margin at which British iron could bo be sold here with the taxes and other charges added. ‘Tho causes that forced the advance of the price of ironin England did not exist here, yet, the other shop being closed, the domestic manufactu- ers took advantnge of the market, During 1872.'3 their harvest was on immense one at the expense of the general public. In the foll of 78 came the panic, which caught the manufacturers with large stocks on hand andno homo demand, What the profits wero then may be judged by the following comparative prices of pig in Pennsylvania at tho dates named; January, 1873, No. 1 Americon was sold at $50 per ton; Decom. ber, 1878, it was sold at $33; in January, 1874, tho prica was $34 to 836; and in De. eember, 1874, it was 24 to $25, If this iron yields o profit when the prico is $25 per ton, what was the profit when it was sold at $60 por ton? Domestic fron is aold to homo consumers at the price of foreign iron with tariff added—noarly, It is sold just enough lower to pocket the duty and keep out the competing iron, Thus, the tarif on iron is no longer for revenue, but is prohibitory, Is the Register or ita venders In favor of a pro- hibitory tari’? Direct taxation is the necos- sary consequence of & prohibitory tariff. The Louisville Courier-Journal will be a fit subject for a lanatic asylum if it shall con- tinuo its ravings over the Toxns & Pacifo Railroad folly, It has already donounced every section, and evory newspaper, and every individual who is opposed to voting §875,- 000,000, principal and interest, to this mon- strous job out of the United States treasury, when every monthly statement of the debt shows us to be on the road to bankruptey, But it continues to denounce and rave all the game, and attributes all opposition to tho schome to Northern projudices against the “South,” ‘Dhis is sheer nonsense, We haya already recalled, over and over again, that the Union Pacific Road was located where it is, on a central line, for tho express purpose of open- ing the Pacific Const aa nearly as possible to all sections of the country, ‘Chis purpose was what gave it its name of Union and Central Pacifie. Subsequently a scheme was devised to give the Northwest special facilities, This was called the Northern Pacifia Road, Another schemo wos devised to give the Southwest special adyantoges, This was called the Bouthers Pacifio (‘Texas & Pacific) Road, The panto brought them both to grief, or rathor both wore important fsctors in the production of the panic. Now, however, for tho general purpose of appealing for the South,” the es Louisville CourterJournal, without any re- gard for the actual condition of things, aces fit to treat the Central Pucifio Road as a Northern institution, nnd clamors for a Southern inatitntion of the same kind, When wo ask how the ‘Texas & Pacific Rord is to be inado to pny, wo are pointed to tho receipts of that portion already eompleted through Eastorn ‘Texas, where the country is fertilo and productive, ‘Chis oxbibit simply shows that tho present railrond has been built by private enpital os far ns it will pny; that por- tion of it—by far the largest portion—which is to run through snge-brush plains and vol- ennic aterility, which would not pay, it is proposed the United States shell build, rel BATE TAXATION, Somo years ago, public opinion in New York awoke to tle injustice of the methods of taxation then (and now) provailing there. At tho request of Gov. Horrman, Davin A, Wrnts prepared a scheme for a reform. Tho grossost inequalities have always existed in tho assessment and collection of taxca on personal property. ‘These aro fairly enough levied in tho country, whero the local Asses- sor can readily sco just what furnituro, live- stock, and machinery the farmer owns, but they aro afarco in tho city, where tho As- sossor, unable to peer into private accounts and yoults, and relying on statements which aro notoriously incorrect, guesses at the por- sonalty of each citizen, and fixes his tax at a figure which is wrong a thousnnd times for once thot it happens to be right. Mr. Wenz’ plan was, woe believe, substantially os fol- lows: Tax realty as at present, aud assess each man's porsonalty st three times tho rent he pays or would pay if he did not own his home, This would be but a alight, if any, improvement on the present system. Men who earn from £2,000 to $4,000 per year generally do own porsonalty equal to about thrice the rent they pay, but this pro- portion does not hold good in the case of persons whose incomes are above or below these limits, Many a laboring man pays $12 to $16 a month for his narrow quarters, and yet does not own the half of the 8432 to 53576 worth of porsonalty for which, undor Mr, Wex1s’ plan, he would have to pay taxes, At the other extreme, equal injustice would be done, although the State and not the tax- payer would suffer, A wealthy man, who pays $5,000 to $10,000 a year for his man- sion, often has personal property, in the shape of fine furniture, books, paintings, atatues, horses and carriages, bonds, stocks, money, ¢te., which is worth ten or twonty times as 1ouch as his rent, Aftor the subinission of this report and its yvejection by public opinion, there was a lull in tho agitation of the subject. Its discus- sion hac now rovived. A Committee of tho Legislature is considering ways and means of tax-reform. Mr. Gzoror Ti, Anprewa, ono of the T'nax-Commissioners of New York City, has collected for the Committee n number of typical ceses of the working of the system in the motropolis, We are indobted to the Nation for some extracts from his report. When the porsonal tax of tho city showed o frightful deficit, a catalogue of all the mom. bers of the prominent clubs whose names wero not on tho assessment-list was pro- pared. It contained 435 names. ‘The Commissioners, without any further in- quiry, assessed each of these men for $10,000 worth of personalty, and demanded from them taxes on that nmount. Of the 436, exactly three admitted this liability. Tho city got just 8280 on this aggregate aossess- ment of $4,350,000, In another instenca, a minn assessed for 325,000 worth of personalty had the assessment canceled and escaped all taxation by swearing that he had, within a week, converted all his personal property in- to United States bonds; thathedid so for the sake of escaping taxation; and that he should reconvort them into taxable personal- ty a3 soon as the dangor of taxation was over, Mr, Anprews mado up alist of twenty-four persons, erch holding $100,000 worth of per- sonal property, and the differences in their toxos. It showed these remarkable facts: A owns $100,000 worth of imported goods on which he pnys no taxes; B owns $100,000 worth of miscellanc- oug goods and is taxed heavily; ©O haa $100,000 worth consigned to him and pays nothing; D holds $100,000 in stock and is taxed; E has $100,000 worth of goods manufactured in Now Jersey and is oxompt; F's stock of equal value is manufactured in the city and is taxed; G has a third stock of the same amount for which he borrowed capital on Government bonds, and he is exempt; H sold his bonds instead of borrow- ing on thom, snd bought $100,000 worth of goods, and he is taxed; I owns 9100,000 in ships plying between New York and Boston, but rogistered at the lattor port, and pays nothing; J’s ships, worth $100,000, ply in the Pacific, but are registered and taxed in New York; K has a mortgage of $100,000 on New Jersey property and ia exempt; L's mortgage of $100,000 ia on New York prop- orty and is taxed; M has $100,000 in money in his pocket and pays no tax; N has his in a bonk and pays taxes on it; O holds certificates of deposit for $100,000 in the Sub.Treasury aud is untaxed; P's certifi. cates ave in a bank and ho is therefore taxed ; Q has $100,000 in specie in the Assay-Ofice on which he pays nothing; R has the same amount in his safo aud pays on it; 8 holds a check on tho United States Treasury for $100,000 and is exempt; T holds a check on abank for $100,000 and is taxed; U and V have $100,000 in Treasury and promissory notes respectively, and U is exempt while V ja taxed; W and X have $100,000 in Federal and State (or city) bonds respectively, and W4 is oxempt while X is taxed; Y has Govorn- ment certificates of indabtedness for $100,000 and pays nothing; and Z hos private certificates of indebtedness for the same amount and ia taxed, This astounding catalogue shows how thoroughly unjuat and wrong the present system is. It {8 not strange that the personal property tax of the metropolis is millions in arrear, A somo. whnt similar ainte of things exists in this city. Chicagoans who have paid their taxea will foel a mournful intorest in those extracts from Mayor Convin’s message : Uncollected persoual-property tux, 1871, Uncollected porsousl-property tax, 1872, Vucollacted personsl-froperty tax, 1973, Tue delinquoncy tax fur 1874 not stated, Gxceedaysscgecseseeestssah bedi cneetypeeees,600,000,00. Aconaiderable percentage of the personal-progorty fax will not be collected, owing to business chanyes, conversion of property, aud removals of parties owing the same, It is semi-ofclally announced that the New York Oommitteo will recommend that the personal-property tax shall be entirely abol- ished, and that the State revenues shall be raised by a tax on real estate and on the stock of corporations, Corporations which manu. footnye goods within the Btato are to ba exompt, . ‘The bout method of State taxation iv, aa we have so often shown, the iudirvct,—a syatem ju which Natur, uot man, savesies and cole jodtstaxee, and whieh forags every inan, despite | all ho enn do, to pay the State in proportion to what he consumes. It is possible that loreal taxation must be direct, os the Commit. tee of tho Citizens’ Association on Taxation argue, but the reasons urged therefor do not, apply to the State, In any ovent, the tar tion of personal property, especially of mon. ey, mortgages, nnd debts generally, should cease, A tnx on money capital keeps it away from the Stato and so discourages production, Tt acts ada tex on what is to be produeed, not on what has been, So far ns it doos thia, it isan unmixed ovil, PERSONAL, Mrs. Speaker Buaine is a piater of Garu Hix. TLTON. Ban Wann, the lobbyzat, is brother to Jui Wanp Howe. Lonenzo Exizaga, of Mexico, arrived yestor. day at tho Palmor House, Paris says Fauax is a eaccrdotal comedian of au exagporating perfection. Gon, A. E, Burnsine, at prosent=Senator-elect from Rhode Island, ts at the Grand Pacific, Joun Coanpervain, the Now York gamblor, ja enid to be tho original of Bret Hante’'s “Joun Oanunst.” It is tho ladios of Washington who aro wonder. ing whether the Sanronis family will not bo in. creased by an American. Mra. D. P, Bowens and J. 0. McContum, who aro playing this woek at MeVicker's, arrived yos- terday at the Palmor House. ‘Tho last heard of Jastes Gorvoy Benverr wag that he was at Paris on route for Nice, Of courso, if ho was going to bo marriod. Dr. Maoponnett, Maj. E. B, Syow, and W, Gauwer, of Yokohama, Japan, aro among the prominent arrivals at the Grand Pacific. Joun Survienp, ‘tho Hampden recluse," of England, died of starvation alono and untendod in bie own house, which wae well stocked with wine and provisions, A man will outgiow all his trouble unless be ‘keeps o journa), Somo peapto don't got enough of thomsclves living with themeolves evory day, sothey keep a journal.—Zeecher, Witttas Repsonp wante Tae Trimune to say that the Winuiamt Repmonp who wap recently sent to Jolict for throo years is not W. W. Res- MOND, Of the City Hotel, Who said ho was? Ganwwator's recent reception in Romo recalls the time whon, twenty years ago, he and Joy ‘Txomrson made soap nnd candies on Staten Ie. and, J.T. is now Prosidont of the Firat Nation al Bank of Now York. Madame Tinens was offered a bor on tho opening night of tho new Paris Opera-Houso, but she refused it, a8 it came from hor auccers- ful rival in tho Prosidential chair—the pious wite of the Maraliat-Prosident, Mr. Saunvens, tho crayon-nrtist, of this city, has just produced a portrait of the Rev. Sumaca Enzi, pastor of tho Church of tha Redeem, for the veatry of that church, which gives much satiefaction as a successful likenoas. Dr. Huan J. Gtexn, of Calusa County, Cal., raised on his farm last year 600,000 bushols of whoat, which amount is still in big warehouses awaitisg ehipmont. This wonld load eightcon ships of 10,000 tous, or 300 canal-boats. When Mra, Burxuam married C. K, Fox, tho Pantsloon, sho was young and boautiful. Ifer prodecessor in that matrimonial relation was Kate Uenin, sister of Svsan Dkyry, now Mrz. Moanis, whois traveling through the West thia season. ‘An Indiana Sunday-schoot Superintendent ro. ccntly wrote tos Now York Diblo-firm: ‘Sond some Sunday-eobool papers and booke; let the books be about pirates and Indians as far aa pos: siblo, and if tho life of Bix Tw xp hes come out, sond that." Wrurhson comes out with an amondmont. Ho gaid the scandal would knock the “Life of Chrigt'’ to the Devil, and not Lughor than a kite, Witreson Jacks brains. Taving accidentally mado a famons speech, ho should haye been con tent thoreafter to keop silence, Actiog under tho advico of a spiritual medium, Evoenta H. Turxer, of Virginia City, Nev.. re- cently attempted to obtain o divorce from hor husband, Georae E. Tynner, for no other reagon than that the epirit dosired it. Tho cast was promptly thrown out of court. A Pennsylvania tombstone reads: ‘John 1, Wiraon's wife, Took sick on tho 15 Noveriber with a chill bor sicknoas had beon dropsy ond, Jung fever or the consumption Died Juno 4 187d hor ago la 71 year 9 mos & 4 days her youngest brother bad to HANDLE her for 7 mos & 24 doya and nights.” When J. H, McVicxer sees a friend going br with bia coat battoned up, and gots the saluta- tions of the day in a hoarse voice, ho produces § llttle package of pills compounded of nitre and chlorate of potash, and tells the patient to take an occasional suck at it. He is death on diph+ theria these hard times. Wenpeit Purnuirs can, by calling on ion. De La Basriz, gain aome valuable information. After elx years of experiment, the Fronchman has aolved the problem of making malleable giaas, which can be beaten or bent Uka copper, and can be used for cooking utensile, Ono lust art is therefore restored. The vinegary Nizsson insisted on hnviog Fauny play Faust with her, instoad of Gainasny, who played it with Parr, broke saveral obairs, some valuable porcelain, stubbed her pratty ple- belan toe, slapped the mauagor's face, aud Analy got her wiah by going to the Minlater of thu In- terior and coszing him to isaue an oflotal crdor to that affect. It appeara that the heathon of Kansas aro still practiciog Pagan ritos, and sacrificing to the ald- en gods. An oldrosidont of Platte County, hay: ing been rescued from the rivor, noar Leaven- worth, into which be had fallon, with bly two yoke of cattle and bis wagon loaded with wood, gave utterance to this remarkable exclamation: “Ran home and tell the old woman I'm gafa; tell her to kill m googo.” ‘Tha loos) Journal docs not give the name of the deity upon whoee altar the bird wan to be sacrificed in thankfulnees for the presarvation of human lifo; but the revola- tion is sufficiont to show that there ia a rello of heathouism among us.—-St. Louts Globe, Peren McUoy, of Eaat Tounesseo, could not havo subscribed for the Jonesboro Journal, fur at his decenge the talented obituarist pourn into Peren’s grave all the unkind remarks bo could utter ageinst other people, Pxtxn was therefore a godsond to that young manasa safety-valve- Peren camo to his death by trying to murder his wife, aud tried to make hia exit after murdering just ons more man. He had already slain six. but “ there’s luck in odd numbera,"zaaid Petes MoCoy, Haviog his opportunity, the obitueris took ittosay: ‘From the information wo havo of bie life and obaracter, we abould think tbat tho history of East Tennessee would not furnie a record of a man moro destitute of overy nal principle and more reckiewsly wioked than wel Patan McCoy." HOTEL ARRIVALS. Palmer House—T. S, White, St. Pauls F. D, Dovs- lass, Hartford; Franklin Wilton, Floride; L. ¢. Fowler, Calitornia; J, L, De Osmp, Now Yorki Richard P, Morgan, Bloomington; swing Hill, Bt Louis ¢ J. G. Knight, Cinctonatl: W, Chase, Ind ana; C, W, Hondry, Donvor; W, nal; W. H, Elder, St, Lous Now York; 7,4, Rudd, Kentucky; James B, Clo# Piutabury; Samu He. Burrell, Bt, Louls.. Grand | Pacific~wL, W, Morso, %,. Peutelds ‘Mo. B, Mf. Cranston, ‘New York? Bica, | Byringtiela; 'T. 1, Wickes Lovis; u, , West, suaye John 1, Nilo, Laporigs the Hon, A. B, Harris, Box won; P. H, Hartman, Ulnotnoatt; Joba H, Souler, Fre mont, Neb. | ED, Holton, Milwaukee; James Knots St. Louis; Joun 0, Green, Troy....sherman Hout ¥, O.Nye, New York: 0, 1. Morehduse, Olovelands Ws Hari hobate, Pldnipit 9b aoe, Boket ©, P, Mitchall, Wiluiette: George Willows, Ottawa... a lotus tote; 0. ae Fae Buuaburgy We Thouts, Louie is Agqiular, 058 Hogere, Detroit; Hs Pio wakes; @, a1 note; Hreq Beach, 200 CUO A ret Ta .