Chicago Daily Tribune Newspaper, July 7, 1875, Page 4

4 TERMS OF THE TRIBUNE. RATEA OF EUAMCRIPTION (PAYANLE TN ADVANCE), e Prepald ne this OMce. WawTED-Une active agont {n esch town and villsge, Ipectal arrangements mada with sach. Bpoeiman copies sent freo, Toprevent delay and mistakes, be sure and give Post. ddress fn fall, Including Stats and County, . tancosmay bomade elthor by deaft, expreas, Post .+ or {1 Teglatered lettars, at anr risk. TERMA TO CITT ATIRCRITERA, Daily, deliversd, Kunday excepted, 255 cents parwerk, Dasly, daliverod, Bunday included, i) cants par weoke Address THE TRIBUNE COMPANY, Cornar Biadssnn snd Doarhorn-ats,, Chicago, LI Mol and Dosimmats TO-DAY'S AMUSEMENTS. '8 THRATRE—Randolnh . totween O Y aunes " Hnangerment uf the. Uniom farare ThoTwo Orphans. " Aftorsoon and venig. MVICRKR'S THEATRE. Peariom and Htate, Ko, irela, | on_ street, hetwnen of Maverly's Min- P THREATRE—Deathiorn stroet, corner Man- 0V VhRaks Eitoriaiamorte - Alaraoos sud ereniads SOCIETY MEETINGS. TRYPERIA LODGR, No. 411, A tar communication at Masciz o Fem) ind {lals ed-sta,, this (Wndnesday! HIND Dnulhulm Iy nitundan cathren may be accommoda g welock b, CHAS. ¥, FORRITEH, Beo'T, SIS ISR . BRAUTY IN A ROTTLR-THIS TERM MAY FITLY be lad to Lalrd's Bloom of Youth, sinco the ot e- ohaniing compioxluns Aro derived fram ihat sourcs, Hold by ail druggisie, Che Chitage Tribune, Wednoaday Morning, July 7, 1878. Postmastor-Genernl JewELL, in a letter to President GraxT, complimenta the mannge- mont of tho Chicngo Post-Ofico to the ex- tont of saying that itis the best he has ob- servod in any offico yot visited. Mr. Hovr SnenuaN, brother of Gen, W, T. Suxnaay, has been appointed Assigneo of B, T. Auex's estato. His reputation as one of the best Lusiness men and financiers in Towa is Lased npon n carcer differing widely from that of the mnn whose tangled affaira he is called npon to straighten as far s possible for the beneflt of creditors, and tho selection of Mr. Suenyax for the performance of thesa difficult duties is regarded as most fortunnte for the claimants, ‘Wisconsin ond Minnesota will hold Btate Conventions to-dny, In the former the Iic- publicans will nominate a fall ticket for State officers. Tho most prominent candidates for Governor aro Mayor Lupmvaroy, of Milwau- kee, and the Hon. WiLiax E. Switn, ex- Stato Trenaurer, the Inttor of whom was do- fented for the nomination for Governor fonr Years ago. Maj,. HeNny Barrz, a leading Germon, will probably bo nominated for Btato Trepsarer. For cach of the other of- ficos there aro several candidatos, The Con- vontion at 8t. Paul will also nominate a State ticket, The Common Council last svening passed a * resolution embodying 0 peremptory order to the Library Directors to change the hour of closing the Library from G p, m. to 8 p. m, ‘While the ideas of the Council might have beon better expressed in the shapo of a re- quest, instoad of & command, is I8 nono the loss truo that the vote in the Council is a ro- flox of tho goneral fecling in tho community in regord to the Library hours, The Direc- tors were by no means unanimouns as to the propriety of reducing the hours, and they will doubtless discover in the demand of the Common Council a reason, if not a necessity, for tho rostoration of 9 p. m. aa tha time for closing tho Library, The obstruction of Chicago strects by building materinl is n common occurronce, greatly to the hindrance of strect travel, A largo amount of liberty in this regard is permitted to builders, chiefly for lack of the ‘proper enforcemeont of the law, which,wt the utmoat, allows the ocenpancy of one-third of tho rosdway, mud only then by special pormission of the proper authorities. A case has beon docided recently by the Illinois Su. premo Court in whicl the law of negligonce is mado to apply with costly forco upon par. tlos obstrnoting strects, the Court holding that they are responsible for accidents to life, limb, or property, indirectly growing out of tuch obstructions, A collision between toaws, by which a boy received injurics end- ing in death, was traced back to tho faat that it woa causod by the unlawful oceupaney of tho street with a sand-heap, the owner of ‘which has been muloted in dnmages to tho amount of 32,000, the Supreme Court aflirm. ing the judgment in the Court below, Thoro is an agrocable abundance of common-sensa in the decision, Guv. Tmoex, of New York, bids fair to make his administration more meihorable for what ha keeps out of the statuto-books than for what ho puta in, The amended Consti. tution of New York docs not limit to a few days the time within which, after the bills bave falled to become laws through lack of his approval, he may express the reasons for his disapproval, consequently ho ia surpris- ing the New Yorkers nearly evory day with frosh ennouncements of vetoes, A day or two ago three more were returned. The first was tho veto of & bill proposing to punish a8 n misdomeanor the imputation of unchnstity to women, on the ground that it doprived the defendant of the right of justi. fication. The second was the veto of & bill creating two new Police-Justioes In New York City, becauss they were unnecessary and would {ncreasa the expensos of justice. Tho third was the vetoof a bill providing that ‘‘any vessel plying between New York and the north shore of Staten Island may land and recolve passengors and freight at the dock at the foot of Jersey strect in Now Brighton,” which the Governor thinks be- longs to the cour The Chicago produce markets were rather ancertain yesterday. Meas pork was quiet and 10@15¢ per brl higher, closing at $19.65 cash, and $10.80 for August. Lard was dull and 5@100 per 100 tbg lower, closjug at $13.15 cash, and $13.25 for August. Mleots were quiet and firm at 8{@8jo for ehoulders, 11j0 for short ribs, and 120 forshort cfoms, High. wined wero active and firmer at 31.16}@1.17 per gallon. Lake freights wero quiet and steady at 2o for wheat to Buffalo. Flour was in good demand and firm. Wheat was nioderately active and weak, cloging at §1.03{ cash, and $1.04 for August. Corn was rather active and easier, closing at €820 cash, and 70{o for August. Oats were notive and stronger, closing at 88Jo for July, and 40j0 for August. Iye was quiet and firm at 02@ 930, Barloy was quict and stronger, closlug 8t #1.01@1.02 for Beptomber, Hogp werein light supply, and advanced 5@100; sales ab THE CHICAGO TRIBU £6.25@7.40. Cattlo and sheep wors dull and nominally unchanged. The Chiengo Z¥mes onlls attention to the fack that while the National Banka aro sl lowed to have noten to the extont only of 90 per cent of the bonds deposited in the Treas- ury to soeuro their eirenlation, the roports of the Treasury show an ontstanding cireuln. tion of §149,285,309, and a deposit of bonda of only §375,7:35.500, which, on the basis of 100 of bonds to 90 of notes, shows a scoming deficiency in bonds of $12,350,283. One ex- planation of this scoming discrepancy is, that during thoe last year or two a numbor of Na- tional Banka have abandoned their eircnla- tion, In such cnso they forward to tho Scc- retary of tho Trensury an amount of groen- backa equal to their outstanding notes, and then withdraw their bonda 08 the law allows, As tho mnotes of the National DBanks are received at the Trensury they nro assorted, and in the cnso of the notes of these banks the green- backs aro substituted for the bank notes, and the Intter aro canceled. It may happen that six months or & year may elapse beforo all tho notes of a particular National Bank reach the Treasury, nnd in the meantime they are counted a8 outstanding, though thero nre no bonds on deposit for their securily. So far a8 the bank is concerned, the circulation is rodecmied and retired from the timo tho greenbacks are deposited with the Trensurer nnd the bonds withdrawn. This may oxplain in whole orin part the seoming discrepancy between the outstanding circulation snd the amount of the bonds on deposit for ita re- demption. TAXIRG CAPITAL STOCK AND DEBTS, Under the Revouue law of Iilinois, the State Board of Equalization is designated to nssess the capital stock and othor property of railronds and other corporations doing business under the laws of this State. The process by which this valuation {s reached is s follows : 1. Tho nscertainment of tho value of the lands, lots, depots, and improvements there- on; the rolling-stock, rond-bed, tracks, and all other tangible property, 2. Tho value of the capital stock and the franchise, 8. Tho outstanding debts of the corpora. tion, The valuo of tha capital stock and franchise in nacertained by adding to tho market value of tho stock thoe nmount of the debts; from this aggregate, the sssessed value of the tangible property of the Company ja do- ducted, and the difforonce is tha valuo of the stock nnd franchise, Thus in 1878, tho first year the Revenue law wus in forco, tho State Board asacased the capital stock and property of tho railroad companies in Illinois as fol- lows ¢ Value of capital stock. Value of tangiblo property... 139,496,522 68,895,402 Value of stock ovor tngible property......$ 64,611,070 Tt e i To on s ol aiad o ton Ofu..eeeunas 133,498,82 The unfortunate and bankrupt Rookford, Rock Island & St. Louis Railroad Company whs taxod on one million of dollars for ita capi- tul stock over and above the value of its prop- orty! This Company, whose property, after blotting out tho entire capital stock, was not equal to 10 cents on the dullar of its dobts, appealed to the Supreme Court, but that tri. bunnl doclared itself powerless to fnterfore, In 1874, the State Board adhered to its sys. tom, Lut modified its assessment of capital stock to ‘“G0 per cent” of ita value,—plac- ing it to this extent nominally on the sameo footing with other property. Deductiog thiy 40 per cont, tho sovoral railronds were taxed on 331,314,175 of capital stock, belng the excess of the 60 per cent value thereof over the value of the tangible property. The Board stated the account of the Chicago, Burlington & Quincy Railroad Company after the following fashion : ‘Whole eapital ntock. Proportion (o Tl Tota) indebtadnen. ‘Total market value of dabt and ato: Aftor deducting 40 per ceut Value of taugitle property. 74,597 et tazabla valuo of stock au 2,123,083 To restrain tho collection of the tax on this asgossent, the Company filed & bill, and the Buprome Court Lns just rendered a de- cigion. In the case of the Rockford & Rock Island Company, the Court #aid that a court of cquity will never entertain a bill to re. strain the collection of a tax oxcept: 1. Whero the tax is unauthorized by law; 2. Whero it has boen assessed upon property not subject to taxation; or, 3. Where tho property Los been frandulently asscssed ot too high a rate. The Court now say : ‘The only reason and oxcuss for sdding the value of {hie dobts to tho value of tho sgiTegate shares of capt- tal atock, to ascertain tho present valuo of the whols capital utock, neluding the franchiss, was supposed to Uain this: Firet, Thatall (b abares of capital stock ropresented averything of value, tangiblaand intungle ble, belonging to the corporation, and which composo itacapitul steok, including it frauchise; and, there. fore, the sygregste value of thesa might bo farly as- suuied a4 tho equivalent vl the eatiro valusof the capital atock, including the franchisa of ilio corpora- tlon, it 1t wero froe from debt, Lut It the corporstion re ndehiod, the fndebtedness would presumptivaly t extont roduce the valus of the slisres of stock, and they would conssquently then fall to represent an amount equivalent to the yresant valuo of the capital stock, including the franchiss, by the amount of the valus of the ludebledness, In the present cnso, it was charged and ad- mitted that the Bourd of Equalization had nageased the capital stock, including the fran. chiso, boyond their sotunl value; that, in making the assessment, thoy added to their valuntion of the stock tho indobtednesa of the Company, sud also tho indebtednoss of six othor railroad companies of which it is the losseo, one of which lica entirely outside the State of Nlinols, for the poyment of nono of which the 0., B, & Q. is respon. sble and in which it is not interested as owner. The amount of this other indebted. nows is put down at 86,766,000, The actual decision in this case {a that the oddition to the assessment of the Ohicago, Burlington & Quincy Rallroad Company for the dobts of the leased railroads is illegal, Dbecause it ia fraudulontly assessed too high, ‘Thiat is all the Court' petunlly docides, But the inforences extend much further, Tho Court declaros that the actual aggrogate valuo of the property of arailroad company mustbe fairly presumnod as thy uquivalent of the ontire value of the capital stock and the franchise, But where tho Compuny is in debt the pre- sumption {8 that the valuo of the capital stock ia reduced in proportion to the debt, and honce the valuo of tho capital stock would not then represont an amouut equiva. lent to tho property, tangiblo and intaugible, of tho Company. This fs reasonable doctrize, and i fotal to the tixation of capital stock to 4n excens of the value of tho property of the Company. The Court justify the addition of tho debts of the Company to the actua! value of the capital stook and franchise, on the pre- sumption that the par value of the stook rep. roseuts the aotual value of all its property, fncliding the franchise ;.and upon the further prosumption that the market value of the capltal sluck 40 reduwed fn propor tion to the amount of tho dehts, and, unloss tho dobta be added to the market valne of tho atocks, tho latter would not roprossnt the real value of the arhole proper- ty of the Company. In other worda, an hon- ost aascssment of the property of a compnny should show an smount equivalent to the par value of its capital atock and franchise; and that its debis should be computed morely As an equivalent for the doprecintion of tho shares consequont upon tho existonce of the debts. All this is rensonable and olear; it is exact justico. Nothing is taxablo but proper. ty, and the samo property cannot be taxed twico under two names, Capital stock rep- resents proporty of some kind; it has no valuo of jtself, To tax tho stock, and the property it ‘represents, and the debts, which aro a chargo npon the property, I8 an abuse of authority which cannot bo tolerated. The Supreme Court, however, by their opinion in this ense, also sect aside the theory that the action of the State Board of Equali- zation {8 a finality,~n theory which has led that Board into many extraordinary ncts. The Suprome Court declares that its action in the ease under roview wns not ontitled to the presumption that it was the result of the honest judgment of the majority of tha mem- bers of the Board. Tlo State Bonrd, there- fore, is no longer to be considered & court unto itself, whose decisions cannot bo ro- viewed and rot aside by the Courts, Taking this decision of the Supremo Court of tho State and of the United States Courts on this subject, it mny be fnirly assumed that the business of taxing eapital stock and dobts in addition to the actual valuo of the property of corporations has reached its ond, and that there will be no more of it. e ey m—" NEW ENGLARD IDEAS, The address which was delivored o fow days ago before the students at the Com- mencomentof the University of Virginia by tho ex-Confederate Gon. Presrox, and which waa printed in tho last issuo of Tne Trisuxe, in porhaps the most romarkable specimen of bombnst and braggadocio, as well as of mis- representation and virnlence, that las been uttered in the Bouth since the close of the War. In point of fact, theso qualities are doveloped to such an extent that wo have lit- tlo doubt this fire-onting orator will creato for himself in tho Bouth, as he most certainly will in tho North, a fecling of profonnd contempt. MHis whole oration turns upon two points,—first, n wail for “The Lost Cause,” and second, n savage nt- tack upon ** Puritanism,” or, in other words, Now England idens, which he daclares aro ir- reconcilable with ¢ Southern idens.” The first point needa but little attention. The “Lost Causo” is a ghost which has been ex- orcised by the vast majority of tho Southern people. Only a minority of peoplo had any interest in the Cause before it was loat, and atill fewer, now that it is lost, care to find it ogain. The Lost Couse was the cause of the old slave-owning oligarchy, About a quarter of o million families in the South owned slaves and had o personal interest in slavery, Perhaps another quarter of a million of fami- lies had an indirect interest, while a million and a half of families, or moro than two.thirds of the whole white population, kad no mors interest in *‘the peculinr inatitution” than the North itself. The majority of those who formerly had any interest in elavery have adapted thomsolves to the changed condition of affairs since tho War, have accopted the situation, and bave settled down to the con- viction that it ia thoir policy to make tho best of it. The orator of the University of Virginia, therofore, represents a mere hand- ful of {rreconcilabloz whose virwlenco is silly becanso it Is harmless, and his whining over the *Lost Couse” 18 unworthy of serious attention, Tho nttack upon New England idens, how- ever, dosorves a littlo attoution, not particu. larly bocause this orator has attacked thom, but bocause they are exactly tho idess which the Bouth needs to insure her mntorial growth, to accelerate her industrial and social progross, and to promote her recovery from the wasto and ravage of war. Tho South very generally alrondy, and beforo long will en. tirely, abandon the iden of the eorvitudo of the black race to the white, and will accept the idea of tho possession of equal political rights by tho blacks. This very materially shortens tha distanco betweon Now England and the Bouth, Then what idons have the Puritons, as Gen. PuzstoN styles tho Now Englanders, which will prove infurfous to the South, or which the South counot accept? Let us seo. Now England hay 8 most admirable common.school system, which spreads the blessings of education to tho whole population, It has the largest, most flourishing, and most riclly endowed collegea in the country, with tho ablest and best pald professors. It Las a gigantio sys. tomn of mannfacturing jndustries. It hns o perfoot Bystem of banking, which invests the capital of Now England to tho most profitable wdvantage. It Las a eystom of expediting communication by water, rail, and telograph, which has sdded immensely to the produc. tivoness and profit of its unfertile soil, It Las devoted much time and Inbor to the improvement of the ganitary condition of ita citles, towns, and vil- lages, with excollent results. Its insurance interests aro protecting both lifo and proper- ty, not ouly in New England, but even in the Houth, It has & great and beneficent system of publio charities, caring for those who are unable to care for themselves, rolleving mis- ery, pain, and poverty, and helping those afilicted by wuaturo or by accident, It haa loaned out to othor States hundreds of mill- fons of dollara by the development of ita own industrics. Almost every village has ita publio library, diffusing knowledgo without cost. It makea books, translates books, and reproduces tho best literature of the world. It dovotes itself to political economy, It tolerntes the largest degroe of roliglous independence and freodom of opinion, It enlarges the bounds of solontifio research, and constantly swolls the Het of useful and labor-saving inventions, It recognizes the fact that ignorance is the fruitful parent of ovil and misery, and there. fore earnostly etrivea to reach the highest possible degree of goneral enlightenment. Now, theso aro the dominsnt New Eugland idens. Does the South object to them? Does the Bouth fmogine, or does this silly Virginla orator believe, that they would prove injurious?. Is he not writing himsel! down the veriest of donkeyain ddolaring that thesu idesa are irreconcilable with the ideas of tho South? It would bo an ingult to the common senso of the Bouthern people to suppose for o 100ment that they held svch a position. Thore is one New England idea, however, not yet possessed by the Bouth, which lies at the very basis of New England prosperity, and which the South must acoept before it can make any materlal progress towards the highost success, It may ba that the Bouth fu not yot sufficlently recovered from the in. flusnces of ita old soclal halits to accept I, - WEDNESDAY, "JULY " %,” 1878. but the sooner it doen accept it, the sooner will pence, order, and prosperity reign within its borders, In New England, every man wurks, oitier aa employer or employs, Evory man puta his hand to the auvil, tho loom, the forge, or the plow, or dovotes his abilitic to mental and intelleotual labors, thinking, planning, designing, calen. Inting, and dirccting, It is a grent bee-hivo of indnstry and nctivity in which thero are fow drones, Now, this is an idea which tho South needs more than any other, One causo, and porhaps the most prominont causo, of the disorder and unprosperous con. dition of the Sounth lica in tho fact that the Inbor of tho South {8 performed by one-half of tho population, and that the other half lives upon those who labor. Thereforo there is no surplus of production for profit. 'The idlo mnn eats up tho surplus produced by the Inboring man. All this might bo remedied it tho ex-glavo oligarchy of the Bouth accepted the Now England idea that evory man should work and produce a surplus with his own hands. . ‘The orator of the Univarsity of Virginin, like many other Southern men, speaks of New England idoas s if thoy were confinod to New England, These ideas have no such parrow limitations, They are the ideas of the whole North, New England idens nnd civilization are diffused over the great West, During the Rebellion the South encountored the New England *‘iden" behind nlmost any musket. Everywhero that the Now Englander goos ho takes his idens along with him, and every- where that he takes his idens they pro- duco sbundnnt harvests of prosperity. If the Bouth wishes n like prosperity, let her adopt these Now England idess, and give no enr to tho silly bombast of snuch men ns Preatow, who represent a decay- ing animosity and the ghost of an idea which perished in tho late War, If the New En- gland idens are irreconcilablo with the South- ern idens, thon aro the Southern idens irrecon- cilable with peace, order, enlightenment, civilization, and the blessings which flow from their conjunction. ENGLAND AND THE PEACE OF EUROPE, Bomo dnya ngo we drew attention to an ar- ticlo in tho lnst number of the London Fort- nightly Review, which made the astounding confession that, in case the neutrality of Bel- gium had been violated by the German Em- piro in tho Iate dissonsions growing out of tho Ultramontane question, Great DBritain could not throw moro than 40,000 effoctive soldiers into tho fleld to avert the destruction of Belgian independence, though an attack on Belgium would bo at the same time a wmennce ngainst Great Britain. It seemsy that this is not an exceptional or sensational view of the situntion. An article in the current number of the Z'emple ar magnzine entitled ¢ Ia tho National Spirit Dead?"” makes materi- ally tho samo estimato of England's military position, The decline of England’s fighting prowess is traced to the Crimesn war. ‘Ihough it really ante-dntes that period by the forty years of ponce which preceded it for the English, the war in tho Crimen sorved to expose the real condition of things, of which the Dritish people were either ignorant or corcless. Tho war of the Crimea did not de- velop a high examplo of military genius on the part of hor Generals, but demonstrated the fatal defects in the military systom of the Kingdom, Ilad this oxposure aroused tho sontiment of tho nation to a horoic endeaver to rogain the loat footing, the English people might now bo spared the humiliation of these lato confeasions in their leading jour- onls, and the English Government would not have cause to tremble ot overy warlike demonstration on the Continent, Tho military syktom of England is now the object of conterapt of all Europe, freely ex- prossed by tho Russinn, Fremeh, German, Itallan, and Belgian press. An official jour. uval in Germany recontly safd that * En. gland has effaced itsolf,” and the Bolginns thomselves recognize the worthlessness of Gront DBritain's guaranteo of the indepondence of Belglum, whon' the force of effectives is reduced to 80,000 o 40,000 men, In Bolgium the number is ostimated at the first figure, There s in England what may bo called a small body-guard of regulars and a largo corps of voluntoers, But the lat- tor aro unidar no obligations to sorvo tha Gov- ornment nbroad, snd would probably disband at the firat signs of war whioh would require thom to cross the Chnnnel. They woro or- ganized for homo defense, and aro only n eort of cheap imitation of tho perfoot Prussian systom, They hold to the Prussians about the samo rolation that a limited and exclusive school-systemn, such as formerly prevailed in the Bouthern States, holds to a nniversal, compulsory, common-school education. The British militin systom Is voluntary, partial, ond amateur ; tho Prussian 'system s compul- sory, thorough, aud professional, One {s or- ganized and sustained chiefly for amusoment, thao other for hard war, ‘Without commenting on the deeay of mil. itary spirit in Groat Britain which has grown out of tho accumulation of wealth, the de. bilitation incidont to luxury and indulgence, and the absorption of the multitude in money-making, tho real secret of Great Britain's weak condition among the European powers may bo sufliclontly explainod by the failure to adopt the Prussian military sys- tom, which makes every man a skilled sol. dicr. 'That systom datos back to the defeat of tho Prussians at Jonn, The terms which Narorzow made prohibited Prussia from Leeping more than 40,000 meén as a standing army. Then it was that the Jdea was con. oolved of renewing this limitsd army every year in order to educate the' whole nation in the art of war. Tho frults of this system were first ovident eight yoars after in the allied war against France, whon the small nation of Prussia, then containing only about 5,000,000 .of inhabitants, was able to put into the fieldand maintain an army superior in numbers and effoctiveness to the armiea of the larger pow- era with which Prussin was assoclated. But the secret of Prussia's great strength was not digcovered then, nor indeod fully recognized until the Austrian struggle in 1806, This war astounded all Europe, Austria was a power- ful and warlike notion, with military re. sources supposed to be vastly superior to those of Prussin. Yet six weeks wore enough for Prussia to defoat and rout the Austrian army, besides throwing an army on the flunk to ward off the poasible attack of the other German powors then favorable to Austria, When this was done, all Europe began to in- quire into the secret of Prussia's prowess, so much greater in proportion to population than that of any other nation, But, though the? superiority of the Prusalan system was now perfectly evident, France delayed its adoption until it fell proatrate under tho tre- mendous blows it received in 1870-'71, Now, howaever, all the nations of Europe, with the single exception of Gread Britain, ‘Turkey, aud Spalny have undarlaken to organizo on the Prussisn plan. Austria be. gon nfter the crusling defeat of 1836, Rus. sia hina alroady mado a conaidorable hendway in tho peifectton of tho system. All Qor- many iscomplotely under control of it in a consolidated Ewpiro, Even little Bwitzer- Iand hns adoptod it, and ean now call all ita mon to arma. In Ttaly tho systom haa pro. grossed to a degreo of great proficioncy, France has adopted it only sinco hor Into do- fent, and will roquire a dozen or moro yoars to perfoot it. England, howaver, obatinately iymores its efficiency, and refuses to nvail herself of the only means which eonld regain for her her former influence and greatness in the disposition of tho balnnce of powor. We doubt whather the system conld bo introdnced into Great Britain now, beeanso of the very iudifforcnco and supinencss of which tho English writers complain, The same cnuses which have led to the deeny of military epirit among the peopla of Great Britain would induco them {o rovolt against he application of n system which would mako n soldier of every able-bodied man in the Kingdom, with threo years of active ser- vico and a lifotimo of ecxpected gervico, when he would bo subject to call 88 n reserve. But, so long as Great Bntain romaing in hor presont wenk military condition, the peace of Europe will not bo assured by anything sho con do, and there will bo no time in which she onun fool hersolf cortain of the present peaceful, comfortable, luxurious en- joymeut of the commercinl prosperity and political prominence that are now hers. The London Slandard of yesterday con- tains an article, transmitted in part by eable, which reads mora na {f it had boen raked out of somo old acrap-book of the time of Geosoz 1V., and brought over in a sniling-vessel, in- stead of being taken from o lending newspa per to-day and flashed across the Atlantio by lightning. It takes advantngo of a Fourth- of-July celobration in London to characterize tho American Revolution as ** the most un- provoked rebellion in history,” and to re- mnrk that s mojority of the peopla of the United States would joyfully seturn to the allegiance ** from which a contury ago they made their insano revolt.” If wo wers in- clined to mnko serious nuswer to so grotesque a display of pig-hendednoss, wo should refor the Tory spirit which the Standard represents to an orticle printed by the London Times not long since, suggested by our present centennial observances. Tho T¥mes pointed out to tho English peoplo that, if the American peoplo had not set up for them- selves an independent Governmont, the Capi- tal of the British Kingdom would to.day be located in the United States ; that, as the greator includes tho lesser, the seat of Gov- ernmont would follow the proponderance of population, power, and Interests, which would be in this country ; and that, by this timo, the three Btates now forming the United Kingdom would bo States of the American Union, or mere colonios of the grent Dritish-American Empire. More than all, tho vast surplus Dritish capital would have also crossed tho Atlantio, and would have beon absorbed in the development of our vast mining and industrial interests, If this had been the case, however, the London Standard might to-dny have enjoyed the ad- vantnge of being published in New York or Boston, with modern idens, and the poople of Grent Britain would have been spared the humiliation of having its leading journals confess tho impotoncy of the Government to protoct its most vital intereata from the men- ace of other European nations. The following is n statoment of the inter- nal revenue recoipts of tho fiscal yoar ending Juno 30, 1875, as comparaed with those of the yoar onding June 80, 18741 he 85044614 8,700,134.70 12,614,654.07 8,204,24,83 increnso of somgthing moro than 7,000,000 in the receipts avor last year, A largo part of this incrense ia due to the revival of trade during tho year, and something to the Incronsed taxes on whisky and tobacco, which were put on by Congress near the close of ils session in the latter part of February, It will bo noticed that there was a most decided 1ncrense in the roceipts of Fobruary, 1875, over thous of February, 1874, Thiy was the month just precoding tho pns. saga of the Tax bill and during tho timo of its ngitation, The distillerics were running at their full copacity in order to get ahend as large n stock as poasiblo,thestock on hand being exempt from the fncreased tax. The in- crenso in this month alone was more than $4,000,000, and considerably more than one- half of the entireincroase of the year. This ap- parent inorenso, however, waa roally a loss, 80 far a8 whisky was goncerned, at the rate of 20 conta a gallon, which was the increassd tax that tho surplos whisky would have pald if the ordinary amount of whisky had heen monufactured ; for many of tho distilleries shut down aftor the increased tax went into offect, and the consumptions remains about the samo, The difference -between England's old and new Continental policy hsa been sharply marked by the House of Commons debate on the Turkish finances, The most extrems ut. terance was that of Mr, Borren-JoRNeTONE, who sald Turkoy “had incurred a debt of £150,000,000 in twenty years, and hadn't 60 much as an old palr of gloves to show for it.” This gums up the new policy,—mild talk, The old ono was decided action, Thus Piruxznaton, In 1848, declared that he would interfere with Turkish affairs in behalf of British bondholders, and was about to do so when the ‘“‘gsick man" pald bis then small debts, And io 1862, Lord Rosssuy telo- graphed to Constantinople twenty words,~— X insist on the instant tranamission of the payment of the interest on the loan of 1858," —which soared the Bultan into spasmodio honesty, The contrast betwoen these two methods {s apparently to the disadvantage of that now in vogue, but probably only appar. ently. Interference always involves running the risk of & war and porhaps of a general European struggle. When a few hundred or thousand men deliberately loan thelr money to an insolvent nation and think themselves paid for the risk by tha high interest always promised and sometimes paid, have they a right to plunge many milliona of men into a bloody struggle, which msy cost more than the whole sum at stake, and will infallibly bring ruin and sorrow upon thousands of homes? There are enough causes for war without this plausible one, which served ss s pretoxt forthe disastrous Mexican expedition, and is just.fed ju any case ouly by the ab. #uxd theory ihat the Quvarnment b bound o protect & man from the consequoncos of his own folly, Tha somi-yearly dividenda fuat pald in Dos. ton are stated at $9,880,640. "This is %772, 162 moro than the corresponding paymonts of last yoar, and only 240,558 less than those in the flush times of 1873, boforo the balioon collapsed, The dividonds paid Bos- ton during 1875 may be estimated, in round nnmbers, at $20,000,000. This represonts a capital of at lonst $1420,000,000. So that the Hub now hna this amount saved and invosted productively. 'The bonds and mortgnges rep- rosonting most of it give the citizons of Bos- ton a ffon on some hundreds of millions of other people's property. And this surplus is conatantly growing lnrger. Tha spnre profits of each year's industry, and the semi.annual interest on tho loaned capital, are added to it. ‘Twelve months from now, $20,000,000 interest nnd $10,000,000 profits will prob- ably have swelled it to 2360,000,000, It alrendy equnls tho present Assessora’ val. untion of Chiengo, which was mado on a pretty fair basis. Jomx StUaRT Muty has described the rapid advancemont which a community makes whon it stops borrcwiag, pnys {ts dobis, and begins to lend, Boston hins renched this latter happy stage, Large numbers of her citizens can pursue tho de- lightful trade of outting off coupons for a living. They have leisure, and in leisure's train come art, invention, science, liternturo, and rofinoment of overy kind, Tho city's wealth increases at compound intercst, Its people are like the British nation, upon whom $600,000,000, tho roward of past industry and saving, are showercd every year, Unlo him that hath, shall be given. Mr. Hanpr Soroxox's baok st Columbls, B, C., closad its doors laet weok, ** with pain and re- gret,” sbatting forover from tho publio gazo 200,000 of State tunds and some individoal de- posits. The failoro conld hardly bave beon un~ oxpected. Boveral wooks ago Gov. CHAMDERLAIN oxplained to The UntouNe corrospondent in Co- lumbia that Hanpr Borouox's bank was no etroug institution, and chat ho had felt it duty to withdraw & portion of the State doposits from ita keeping. We quote from the lotter of our correspondent, under date of Juno 12. The Goveroor said : ‘When I came inio office I found that the entire Troanury balauces, rauging from $.00,000 to $1,000,- 000, wore deposited i vito bank,—tlie Boutly Carbliuk Dauk & Trust Conpany of this city, better kiown as IARDY Horoson's baik, tho capfial of whicli §& but $12,000, I conferred with the Arcasurer oy to the im- policy of risking the ontire funda of the State upoy the solvency of auingle concern, and we distributed tho deposita smong wix banks,—thires Lore (Iucluding Sov.o» 30N's) and throo at Charioston, This action ozcited the nustility of s powerful monoyed interest, sud the result wus tho passago, by s largo msforily i boil 1ouses, of tue bill which designatod SuLoson's bauk and one other sa the depositorios, I vetoed it, which excited a tremondous opposition, The remarkable thing about the presont fall- ure I8 that tho Btato is 80 heavya loser by it. Gov. CuAxnEnraly, having a protty good notion of the truth, ta doubtloss not responsiblo for the deposlt of $200,000 in a bank having o capital of but £160,000. It may be that some change was made in tho disposition of the Stato moneys during tho absence of the Governor at the Yale Commencement. Frionds of tno Koform Admin- istration in South Carolios, among whom Tue ‘I'mnusg likes to be numbored, will bo pained and surprised by the’ SoLouon fallure, because It will give soma color to the acousations of Gov. CUAMDERLAIN'S cuomics, who allego that his pro- fosslous of reform aro hollow aod insincore, Mr, Joserr H. Crioatr, Who {a said to be an after-diuner epeaker of paculiar folloity, quite awept tho board at the Harvard Alumul dinoer last weok, Ho admirably lawered the prido of the youugstors, who flatier thomselvos that the standard of the University lina beon considarably elovated of Iate, by quoting from the examioa- tion papers which ware givon out o his day: Now let us #ee_whethor the venerabls Liead of ths University could suswer a slugle ouo of tiess quos~ ous, and it Le can ha will riao wo do it 3 “ Exylaiu the paraloglsm of rational paychotogy, the antiuouics of ratvual commology (proving tue tioatu aud antitussie of oue of them, &axn thiooutological, casmologiual, and phyaico- proofa of tua feal of pure fouson ar ides of Gad, o~ gottier with K aur's objoctious to either of theso throo tuodos ot peo £ 1am worry Mr, CIARLEs I'mANCII ADaus, the genlal Prosidunt of the Board uf Oversoers, bas left fu time 10 oscape this sxaminstion, sud in his absence I wor iaku to wak Judye Lioan to Lell ma this: “ Explain brieily the theory of atomlstic dynamism, and Liow {8 reduces matter to' mero will and presentus tion? Of what only do the senses and the physical sciences tako cogulzance as constiuting the prizuitive element of matter 7 Whiat muat ideally or in thoughit proceds overy mytion or physical force 37 Ju2ge 150AR—Not preparcd, Mr, GuoaTi~Tuen I would liko to ask Dr. Bamvzn Gurxy, that youthfuf und ubiquitous wewmver of the Beard, to aimwer & plain question 1n * harmony,” which'ts now reqnired : . ** lesolva the dominant seventh chora of G into othior sayenth chords, snd give an examplo of the pro- ygression of thros of tha seondary chorda of tho Sovenths fuio oiher chords tius Lices of Lo Togular 0gression, By sir, 1 might go on exbausting, not theas ques. tions, but 'the lonorable Huard of Overscarw, til} 1 couid demoustrats to yon that uot ono of theas gen tlomen is, 88 bLe is found st present siiliugat the abis, Atted 10 enter luto, much jess Lo secape out of, thelr dlilicultios, The young gentlomen dld not volunteer ta on- lighten the igoorance of their elders. A congregation of Polish Jows In New York hiay beeu obliged to resort to the ocourts for the setblomont of » question of internal Rovern- mont, The question in part relsten to the vexed subject of choir-music, and jn part to the min- Rliug of soxes in worship, The practica here- tofore in many orthudox coogregstions of the atricteat sort Las been to give the women one part of the synagorno exclusively, and the men aoother, The lonovators in this particalar New ‘York congregation propose to seat the men and womon togatber &8 fuapy place of amuscment, They aleo wish tohave musla which way be in some degrea socaptable to God and man, lnstesd of the discordant voloes which are now raied to Heaven by the plous, but crack.voiced, pile lars of the syosgogue., A majority have jng plainly indicated m preference for the changes, it is probable that the Court will come pel the mioority to submit, There is, a priord, no reason why religious eommunities should make so many and 8o flerce disturbancos over women and music, which are kuowa to be fne tringically the moat delightful things in the world, Jxssm Powxnor hias attained distinotion far be. yond his merits, The bare mention of his crimea gave him uotorlety at the stact, and, elnoe hia wentence to death, the shilly-shallying of the Msssachuseits Qovernor and Qounoll has, st stated intervals, brought him again before pub~ llo notice. The publio, we fanoy, is tireq of the young monster, aud wishes he were effectually disposed of, one way or the other. The prospact 16 not favorable for any suoh happy result, The Executive Council bas just refused byan un- known majority to comwmnte the mentence of desth ; but it {w said Gov. GasroN has been overcome by some squeatish feelings, and will rofuse to sign the doath.warrant, It will be possible lu this manuer to delsy the execution untll & new Governor has been insugurated. Qov. Awpnew similerly delayed the exeoution of Eowasp Geex¥, s baok-robber and murderer, |' who was reaplted for several months, and floally hangod under the warrant of Gov, BuLrocx. Contral Park In New York having besn onos thrown open, though on s speclous ples, to out. side enterprise and speculstion, {9 in grest dan- ger of boiog diverted from its orginal parposs to unworthy uses, The Musical College whioch has been aliowed a building-aite within the lm- its of the park fs doubtless s sound and valasble undertaking ; but the mywterlous tounder, who is to come forward at the nick of time say- oral millfons fn mousy, {8 atill & shadowy exist- snce, and the whole schame of the projectors isin sl {nghoste sud perplexiag state. Ao lustitution with 80 salld a finansial backing cught Lo be able t0 by itselt s slte, The consequences of beg~ Blog 80 aatrancs 10 OelitAl Pk soay bo dhtor tunato inthe axtromo. Fvena Collegeof Musla woald be poor cownponsation for » dozen beer- Ravdons, A politioal ** wigwam,” and clul-houses kopt by Moasts, Criamsntaix snd MoRnzsaxY, - * PERSONAL, QGraca Greonwond groatly admires the Darme stadt mask of Bhiakepoats, Bothern's David Garrick in enjoying the good opinion of English play-goers, Theodoro Tilton 1s engaged to write tho artlole on Charlea Bumuor for Johnson's Encyolopudia. Tho Runday Lecturs Bocioty offers for salos colleation of oldcons taken as the door by In, M &W. 8pinnor kisaed all tho Troasury gicle before he went, and Now thinks he'll remign pretty scon htmaolt. How far this little scandal throwa its beems ! Bo ebinca a bad deed in this naughty world— Graphie, The Tothachilda all deolars they never pay for tholr pufts, and yot oue of them smokes cheap ©0-cont clgnrs, Lot Thankngiving coms as early ss possibls, botore tho slsughter of fourtoen Mexioan cattle Taidors I8 forgotio n, From the Christian Unfon to tha Golden Age is a wide step, but Mr. George B. Lincoln, of Dreoulyn, jonrnahat, boldly took it Grorge Ellot thinks go much of Mrs, How- fand's story, **Papa’'s Own Oirl,” that she ban written the authoress a highly enlogistio laa ter, 7 A Purlatan parrot sings *The Marseillalze®™ when bungry or excited. {8 patriotism fs nad humsn, 1t's & matter of stomach and not of apleco, The G—D—uaya: *““How bardly oan a ragged. mau anter nto the church of the pariod 7" How hardly will 8 ragged-edgs man step down and out of it, 5 * Sacred to the memory of our "steamed friend Vanderburger," is the opitapti of the Bt Leuls Republican ou & man who was killed by = boliler explosion. 3 An exchange agys Mullott builds {o Coruthien atyle and swears in Gotbio, He does go shloker on the lattor accomplishment than thero's any rosl necessity for. Conldn’t Now York do a little something for Toulouas ?—Netn York Commerctal. Aren't the times too tight?—Doston Globe. Yes, and thoy've beon o Toulon, Thera ia not a base-ballist killed yet, snd the sporiing editors are bscomiog impatient. SBome good work can ba dono on the Ohicago niuo by a discriminating murderor. The Golden Age still disousses the elder Due mas as a living entity, which showa how far we aro from specie payments. It also shows cares losenoss in the Golden Age offico, The annonncement that in 7,800,000 years the Tails of Niagara will have subsided has drivon two hotel propriotors inesue and trebled the miglost rato of hack-fare known in twenty-five yonrs. Tho Now York Commercial Advertiser now Bees * What's in an aim." Light having reached it at fant, will it coneider the grinding Iabor in= volved in giving oredit for ita many witsy uttep-- nuces ? “Folks can't bo too keerful nowadsys whas thoy let thelr children eat.” sald aa old Iady as her oye fell upon tho heading of & newspaper article—**Little Emmaline's Disry."~Bruns- wicker, ‘The Philadelphis Press celobrates the aunie versary of the Charlio Ross abduction beoause the dateotives mado $35,000 out of (t. There's a faacioation fn figures, {f they are stout and symmetrical, Bome of tho nowapapsrs insist that Obarlotte Cushman {a dying, but this anxloty tohear of her * last :farawell porformanca " dossn't appear to glve the old lady any trouble. Blhe has sloke encd of the businosa, The way a celebrated englneer makes the Mis- aissippi open its month I8 to spply his na¥io bo s sottlemont nosr the new jettlos. If Poet Eads doesn't result in riparian lockjaw thers will be no trouble about keaplng the mouth open. Eldor Blator (condescendingly)—*Bes, Ethel, you had bettor come and walk in my shadow. 1t will be cooler for youl"” Younger Bister (who ressnta patronage)—** Yon are very good, Maud 3 but I have a shadow of my own, thank you!"” # Fellow-travelars,” said a colored prescher, “of Thad been eatin' dried spples for a week, and den took to drinking for & monf, I couldn’s fool more swelled up das Iam dia minuit, wid prh!fi and vinity st soein' such full 'texdance har. “*Doenticks * was twice' marriod—first to & daughter of Gen. Ciine, of Michigan, and after- warda to & daughter of Faony Fern, Hohad® #on by his firet marriage, and a daughtor by his socond. The [Iattor fs now with her grands parents, ‘The Rov, Dr. Furness has cafled out & number of naughty hints since he published his story of the Iady who hsd remained childloss for twonty. yoard and wes oured of her infirmity by oall iog st his study and paylog ber long-nagleotod marnage-fee | Mayor Colvin spent s very quiot Fourth and Fifth, Thero was s great deal of solid respecta~ bility tn the party, but wo have yes to meet two membera of it who can poaitively say whathor ib was the third and fifth or tho fourth and Afth they celebrated. Col. IL W. Rowell, of Rockford, Ill., a e {ormod man, has undertakon the drill of s Colde Water Army of about 800 boys, He had them out on the 8d on a graud roview and dress-parade, end they made s very fluo appearance. Theas ° boya are pledgod sgainst lutoxicating drinks snd tobscco, ‘The girls bavs formed an ald soclety called “Bisters of the Regimeut.” Prof, Amaza McOoy hus socepted the fnvitstion of the Qouteunial Board of Finance to rosd the Declarse 1100 of Independonce st the Cantennial grounds o the Bih of July, The Professor is an orator of commande ing eloqusie sud power whoss slecirlo speeches i SNRCE B Trof. MoCoy will be remembered as a wells known elooutionlet in this city. It must be a gie snt audfencs {ndead which cannot Liear him read. It s doubtful if & mare judiclous chalos could bave been made. Mr, J, Russell Jones, of Chleago, Minister to Delglum, takes the stesmer to-day for Amerion. He may tharefore be expsoted home in » fork night, He has baso abssnt now more than six yoars, excopt for » fow weeks when he visited Chicago soon after the Five, His friends report that i, {s doubstul whether Lereturnsto Brussels, but after looking about for & while may tender his resigoation and resume his resldence par. msneatly hers, TOTRL ABRIVALE, Bherman Houss—Honry B, Cofin, Duenos Ayres, B.A,; J.P. Darots, Bt Paul; R, I, Towaley, U.8,; N, i B. B, ¥oote, Minnesota; Ienry A. Dromley, 84," Paul § Q, D, Culs, Michigan; J, P, Warner, Deayse s, Goorge 1, Heloit ; John H. Wheat, & i v‘r':nmmnflrvh Fortland ; J, win“ n"l'mu. 4 ol . Walles, Minness iy () ; foaby, "Ohlo}! Joho aeeny| fouto—M, L. Dundy, Tudians ; R O, Lyons, Ler Freson tan ; Capt, Boyd, As 1L, Boyd, Londun ; Oharles 'Alken, San Francisco} Ja! Jlock Taand ; dndge T: D, Murgiy, Wood= Grittith, Ypaliaiti ; A, 0 Farne Franoiaco ; 0. W, Biull, Qaifoy } J. Kibey Montreal ; ¥, ‘A, Van Marehall, New Orlaanss G.! Houso—dsorge HLs! LA H, Wi tony Ouarles J, mu-mkhauwm A, H, Wallaos, ton ; E. Lavy, New Orleans; E. M, Kellogf, waukes; B, B, O Boswa ; 0, W, Polter, waukos | thie Bav, A W. Heabreass, Peorin; W. i Onay Xiyn § Oarroll, Bt + Brool 0ol R 8, McKanxls, U, Brown, oy 5 LOrand paeiio—Judg Bl o §; & Bdwll, Bpringtald} O, Lo Cato, Dos Moined | ¥e M, Wright, Cheysune . Dakota | Ohaslse Mo ?_nnn. OWT 1, lar, Devanpart| K, I, Nases,: 0 . T, Wi 0. V! L) o T e