Chicago Daily Tribune Newspaper, August 13, 1875, Page 4

4 TERMS OF THE TRIBUNE. RATYR OF luu!ln—‘;un‘ TATARLE IX ADVARCE). Pontage Prepnkd at this 07726, w, Datle, 1 anday daubic sho: Tarts of & year WaNTXD-Un6 active agent in esch {own and village, Bpecial arrsngements made with such, Bpecimen capes sont free, ‘To prevent delay and mistakes, be aure and give Toat-ONiee addreas in fll, including Stateand Connty, TRemittancon may ba mado either by draft, express, Post-Office order, or In registernd leticrs, at ourrisk. TERMA TO CITY BURSCRINKRA, ‘Dally, dalivered, Gunday oscepted, 223 cents per week. Daily, deitvered, Bunday iucluded, 30 centn per woeky Address THE TRINUNE COMPANY, Carnar Madiron and Destborn-sta., Chicago, Il b AMUSEMENTS, TOOLEY'S THEATRE—-Randolph ireel, betwarn Olark and Ls8alle, . Engagerent of the Union Bquare Company, “ The Two Urphans.® ADELPIIf THEATRE—Dearbarn sirest, oorner nroe, * The Ieo-Witch. “EOCIETY MEETINGS. WASTIINGTON CIAPTER, No. 63, R, A. MeSpeo- 121 Convocatipun this (Friday) afternoon and evening, t & and 7:40; for work an {ke 1L A, Degreo; also, 8at- urday at 1130 for M. M. Degree. 1ty oriler of the IL P, CHAS. J. TROWBRIDGE, Hec'y. ORIPNTAL LODGE, No. 33, A, ¥.and A, M,—-Thall, 121 LaBallest. Special communication this (Friday) evening, fur work on the M. 3L Degree. The frataral- tynrdL\l; invited, By order of tlia Master, E. N. TUOKER, Sea'y. "BUSINESS NOTICES. MORE FIRARTA ARE OAPTURED BY A FRESH And _brilliant complexton than by the must symmotrical o Fron Tl pAllid oF sallow. - All wamea Kuuw o il ifloom ot Foaliy ametord the chamy aaid e the t Biours. - Broaurabie from ail The @hicags Tribune. THE CHICAGO TRIBUNE: FRID. lawer, closing at 42]o for August, and 37fe for September, Ryo was quiet and irregnlar, At 8he cash, and @82 for September. Dar- fey wandull and 361 Jower, cloging at .08 @1.08%0 for September, and $1.07 for Octo- bor. Iiogs were active and 10¢lower, closing stendy with abont nil sold. Snles chiefly at 10@7.85 Cottlo wero dull and wealk, with tho bulk of salea b $3.00@5,75. Sheep wero innctivo at $3.00@5.25. Ono hundred dollars in gold would buy $119.62} in paper. It in announced that Mr, TRURMAN is going to Californin to make epecches in bebalf of the Democrncy of that State. We aro not astonished to hear ity our only surprise is thint Mr. Tavnyas did not go earlier in the season. Ha might then have eseaped tho disagreonble inconsistency of pustaining o party, and ndvocnting the clection of men, committed to tho iniation of irredeemnblo shinplastors which he hsd alwnys opposcd. In California Mr, Trvmsax will not find it nocosaary to explain that he is forced to sup- port the Democratic ticket aimply because it ia tho Democrntie ticket, and that, as & mat- ter of fact, he has no sympnthy with ite declarations of principle. This is what Mr. ‘Tuopaax bas boen forced to do fn his own State. No wonder he should loavo it Lo go into n State where Lis doos not_have to npolo- gizo for tho shiuplaster tendencies of his party. Irredeemnblo shinplasters have no constitnency in California, where thoy do not cireulnte, and Mr. Tnonyax will be spared the necensity of stultifying hLimself every time ha opens his month. The pooplo outsids of California and Town are keenly alive to the magaitudo of offenses Intely committed against socioty. In Cali- Friday Morming, Auzust 13, 1875. LS At tho Now York Gold Exchango vesterday groonhacks oponed at 87}, foll to 874, ad- vanced to 884, nud closed at 83, Upon authority no less excellent than that of Collector Jupn, the pleasing statemont is made that work upon ihe Chicago Cnstom- Tlousc is certainly to bo rosumed. MMr. Jupp is presumed to havo jnst had a chat with tho President on the subject, and to know where- of La speaks. Tho Commission appointed to locato the site of tho Institution for Fecble-Minded Children bave solocted Lincoln, 1L, among the many cities and towns putting in offors for the location, Tho advertirement calling for plans for tho proposed instilution Lns been changod 8o A3 to extend tho date for re- ceiving plana to the 2Gth inat., instesd of the 10th, Wo publish this morning an interesting lettor from onr correspondent ** Harryth,” embodying tho results of observetions and invostigntions in Willismson County, & loeali- ty which has by slow degrocs acquired a rep- utation most unenvisble, Tho letter con- 1ains 8 resumo of murders and other acts of fewlessness committed sinco the vendetta began, and o skotah of the present condition of nffairs, An outlino is contained in our Washington dispotchies of the probabla decision of the ‘War Department in the matter of tho appli- cation of Firz Joux Ponten forn rehearing ‘of his case. It is understood that tho decis- 4on will ba adverse to the petition, upon the ground that the finding of & court-martial, after sentenco hns beon approved and execnt- ‘ed, caunot be reviewed or recopened ; that tho United Statos Supreme Court has held that under the Constitution thero is no ap- peal from such o verdiot. The peaplo of Winnebago County scem to think that a visit from Jerrenson Davis to that locality would not bo eznclly the thing "jnst now. Thoy have an ides thal Mr, Davis® Webellion rocord is too woll known, and that ‘the many fomily-ties sunderod by the Inte {War have ot beon forgotten. The spirit of tho meetings held to protest ngainst the re- tion of the Agricultural Society would seem .to indicate that the ** jury of tho vicinage™ have reached tho alinost unanimons conclusion 1o withdraw their potronage from the Fair if tlie managers carry out tho original pro- gramme. Tho officers of the Association Lold & mecting to-day, and will probbly cancel the engagoment with Mr Davis, Mr. Wizrtast Weesy, of Philadelphia, fires another hard shot at the Indian Ring and its "protectors in tho Interior Dopartment, He Tiss addressed an open letier to President Gnax, charging Dezano and Cowax with a Zibelous attack upon Bawven, Warxea simply Ibecause he exposed fraud and dishonosty, and DrraNo with having submitted a willfully- faluo report of tho smount of stock snb- scribed to tho Northern Pacific Railrosd. Even tho President himseclf is reminded b Mr. Weesn of undue loniency in the protecy tion of Gon. Panzxn, Commissioncr of Indian Affairs, in spite of the proof of that officor’s nalfonsance. Mr. Wirriaw Wewsn, of the City of Brotherly Love, haa put on his war ,point with the evident purposo of continu. ‘ing the trall so long as be can find a dighon. eat soalp to take, Legialation necessary for the reorganiza- tion of the Firs Departmont waa accomplished ‘last night by the Common Council in the pas- sago of tha ordinance ereating the office wnd !defining the dntics and powers of the Fire. Marshal, To this important offico the ordi- -nance attaches functions which mnke the Fire iMfa¥shal the actual hesd of his Departmont, ‘giving him & control Lighly desirable to be- ,exercised by a ocompstont and conscien- tious officer, but which in the hands of +a Marshal inefficient or corrupt wonld open 'vida tho door to demoralization, favoritism, and dishonesty. The ordinance as adopted 'is & great improvement upou the oue defining Jthe powers and functions of tha City Marshal, ;anditis of the utmost importance to the 'progperity and oredit of our citizons and of ;the munlcipality that no mere politiclan should be intrusted with the control of the Fire Department. i The Chicago prodnoe markets were very frregular yesterdsy. Mess pork woa less ac- tive, and 13}@16¢ per brd lower, closing at $21.20 cash, and $21.22§@31.25 for Bepten. ber. Lard was dull and 100 per 100 lbu low- er, closing ¢ $18.37} oash, and H13.45 for September. Meats wore in better demand and firmer, at 8Jo for shoulders, 1240 for hort ribs, and 12}o for short olears. Highwines were quict and strong, ot 81.19 per gal. lon. Lake freights wero dull and steady, at 2o for whestto Duffalo, Flour was quiet and firm. Wheat foll off 2}, bt closod fo highar than on Weds: §1.24} for August, | fornis, the labors of the Contral Pacifia Com- pany to save the bigamist Woonrokr from the clntches of the law, after ho had stolen a million of dollars, endod vainly yesterday, ns is detailed in our SanFrancisco dispatch, In Towa, lately, the bank of Judge D'sarm, of Drakesville, hns been robbed on several dif- ferent occasions of moncy by & man named Larnay, tho Inst robbery being eommitted Aug. 1, and being supplemented by {he unsucceasful eritno of grson. Hav- ing hidden his pelf in the woods, lie was detected 1ast Wednesdny through his froquont visits“to one of tho places of de. posit, and confessed all his malefnctions. ‘Then, upon his guiding them to tho various places where tho remainderof the money was conoenled, he was given his liberty, probably with the lcsson deeply impressod upon his mind that the next Lime he commits robbery and sots o man's house on fire he had better restrain himsolf from gloating over his gains until the excitement subsides, 1f the facts bo as they ara stated in our dispatch, Judge Dnaxx, of Drokeaville, might properly La proceeded ngainat for the compounding of two fclonies—robbery and arson. ESLLEY'S 3.85 SCRIP-BORDS. Krutes is coming Westward. He has got gmarantond by the Government, Thus Alr. KreLey wonld have the Government pay $4 cents commission for the privilege of paying 3.65 interest per year, and reimming the non.interest-paying notes it receives only to tako them np agnin in the samo mouner. It is oxtremely difficult to seo where the econo- my or profit of such an nrrangement comes in, It would merely sorva to illuatrate into what a sorry plight the issue of an irredecm- nble enrrency hns brought the country. We shoutd think that the effects of ultra-Protec- tion, as seon in Mr. Krirzy's own State, would sufliciently illusteate this phase, and thiat ho might ¥ave us the additional afMiction of tho .65 irredeomablo shinplaster bond. But he won't; and we snpposo the publio must grin and bear it. THB DEBT OF CHICAGO. The Chicago Thmes advocates the repudistion of 8 pattion of Chicago's debt, Tz TAIDUNK stands up sirqquously for paying the whole of 1t Tho debt may bo larger tlian the conntitutional limit, and waa probs- Uy incurrod for many waateful and extravagant im- provements, but thora ia nothing for the poopla to do save pay fo1 the dishioneaty of thelr own sgants, Paye fog for o dead horse is hard, but 4 1s bonest,—Tndian- apolia Sentinel, Hero is n atring of misrepresontations con- cerning the dobt of this city founded on the false and malicious allogations of tho Chica- go Tvmer. 'Tho Indiannpolis paper infers snd states : 1. That the city dobt is larger than the Constitution permits, and to the axtent of the excess in illegal 2, That the debt was incurred for waste- ful and extravagant improvements. 3. 'That the city is now called upon to psy forn * dead horso,” There is not the slightest foundation in truth for any of these stotements, The fanded debt of the City of Chicago ot the time of tho adoption of the Conslitu- tion in August, 1870, was 13,934,000, At the date of the fire in October, 1871, it had been reduced to $13,546,000, which is the preciso sum now due. Nothing has been add- ed toit sinco the Constitution declared that the debt of no municipality should excoad & per cent of the State valuation of the tax- able property thereof, The debt cxisting at lie time of the ndoption of tho Constitntion, being then slightly in oxcess of the Stato limit, was not declared illegal ; the efioct of the limitation was to probibit any addition to tho bonds in the futuro in excess of the lim- itation, That dobt was not crented for any waste- ful or extravagant improvements, Thero is » substantinl showing for all of it, That debt wns contracted for the following pur- poses Water improvements, rrection. Old bonds for miscall TOlieusiairenniiornresesiennsnssere s SIBI56,000 For the water debt Chicngo has a magnifi- cont system of water-works and ample sup- 240,000 1,188,500 ns far na Indiannpolis, whero he demolished Boxawy Price spd Sonator Montox at one foll blow ; in fact, Keriny jsn tremendons blower. Wa fear that Chicngo is bis next Lalting pinca. Wo don’t know what Chiesgo has ever dono that it sbonld bo visited with such nn aflliction. Haven't wo sufficiently atoned for onr manifold sins with our $wo big fires, the ponic, the *Peoplo’s Party,” and manifold other enforcod penances? lsm't it time for a littla indulgonce rather than in- crensed contrition? Aro there not other citics whero Kruiey might be sent, which would boar tho visitation more meelly, if, indeod, they are not moro deserving of it? Krriey scourgod the South this lnst spring, lies flourished his fiery sword in the Esst during tho summer, ond even the West shall not oscape him. Thisds bhard It is moro than wo should bo reneouably aaked to gus. tain, with all onr eadurance and fortitnde. Unfortunately, Krnixy doos not como olone, e nlways goes hand in hand with Lia 3,65 curroncy bond. He will find some high place in Chicago, and exhibit his balloon to the greatest number of people ho ean gother togother. Ho will pictaro to them in the most vivid colors tho dostitution and despair of the people of Ponnsylvania, pro- duced by an ultra high tariff, and then show to Lis own satiafaction and to the mystifica- tion of everybody else that higher tariff tax- ation is necessary to redoem thom from pov- orty. Having disposed of this matter, he will next proceed to show that the country was visited with ono of the worst panica ever exporienced in America during o supernbun- dauce of irredeomable ourrency ond the highest torif in tho world; and then ho will toll his smazed hearers that the only ramody for this condition of things is moro tarilf and a further and illimita™ ble {ssue of the same kind of {rredeomablo car- renoy. This will lead him up naturally to his favorita presoription of the 8,65 ourrency bonds, Theso are to be also irredcemuble,—that is, they are simply to be interconvertible with ir- rodcemable notes, which is tha samo thing. 1t s precisely the mame as it Mr. Keiizy should give hia grocar his ** I, O. U." for $100 in exchange for housahold supplics, and,when tha grocer should domand paymont, he would give him his note drawing 8§ yper contof intercst in other due-bills of his. After & whila the grocer might tire of the note, in which case Mr. Kernrxy would kindly con. sent to mmke him another Quo-bill for the amount and take up tho note. In case the frocer should conclude, o year or so later, that, upon the whole, he would prefer a 8 per cent note to a due-bill, Mr. Krrey would vxchango again without charging tho grocer anylhing for hin trouble. In this way, Mr. Kerixy would consent to the convertibility, the re-convertibility, and the inter-convert- ibility of notes and duc-bills ss long s the grocor conld stand it All this mighbt be well enough for Mr. Krrury, but we fear it would bring the grocer 1o bankruptey if Keiixy wara good customer with thia sort of pay. 1t must be remembered that Mr. Kerixr's proposed 8.65 sorip bonds are 1o be sold for greenbacks, redeemed in greenbacks at the option of the holder, and the interest paid in greenbacks. ‘Thero is Lo be no real money in the operation whatever. It is only exchang- ing one kind of ovidence of indebtedncss for another, There is already s bond of a very gsimilsr nature in existonco, It s the 8.65 currency bond of the District of Columbia, imsued for the purpose of taking up and fond. ing the miscellaneous floating dcbt of the Distriet, aud guaranteod by the Government of tho United States. This guarantee gives it the value of & Government boud, and the negotiable value of the District 8.66 scrip bonds will give » fair idea of the nominal vulue which Mr. Kevwsv's went serip would have. It has never beon yossible, as we understand, to get moro than 69 or 70 conts iu greenkacks for the District bonds, bearing 8.65 intervet in greonbocks. Tt is not fair to presums thot bonds immed and §1.23} tor Septembar’s Corn waa quiet and sieadisr, closing as 70}o sash, and 7140 fae Boplember, Osis wise active sud 1@3e direotly by the Governmsnt would emmand _any bighee price than ibe sane kind of boads $.65 Govern- | ply of the beet of water, the whole cost to complotion of which is includod in the item above, which will bo sufficient for twenty yenrs to comu. This water system o now solf-enpporting ; it pays tho interest on its debt, and furnishes o sinking fund for the payment of the debt out of its own earnings, without any taxation on the property of the public. Ithas practically, though not logal- 1y, consed to bo a debt of the city. It takes care of itself. The river improvement dusbt was an oxten- sion of our sewernge system ; it was incurred for decpening tho canal 30 miles, thoreby draining Chicago River into the Ilinois River. The work cost 3,250,000, of which $G00,000 hns been raised by taxation and pnid. For the sewersgoe bonds, Chicogo has to show 240 miles of sowers, draining 480 milea of frontago; this property cost many millions of dollars, the sura roprosonted by the bonds being morely the balance yot unpaid. Tho work was indispensable to existence. Chicago has to show for her school-debt sites and baildings, not including thoso de- stroyed by tha fire, valuod at not leas than threo imes the amount of the schiool-dsbt, The eity in 1869-'70 built a City-Holl at an exponse of §600,000, of which sum 323,000 constitutes part of the debt. Tha building wna destroyed by tho great fire in 1871, Tho tunnele under the river wore demanded by the peopls for the purpose of affording unin- torrupted intoroourse botwoen the several divisions of the city; thoy aro intact; they cost $1,050,000, and the outstanding bonds ropresent what is unpaid, Thero sro $240,000 due on the Houso of Correction property, for which the city hns fifty-six acros of land and thé large build- ings of avalne far in excosa of the dobt. The other jtcms which go to make up the rest of tho debt represent fragments of old linbilitics contracted many years sgo for paving streots, erecting the old Couri- Houge, the old Armory, Market.Housos, ond other public buildings, and oon- structing bridges. It will be seon, therefors, that Chicagu hos an overwhelming array of substantial assota to show for her dobt. Tt waa all contracted for legitimato and beneficiol purposes. Had it not been for the fire which destroyed so muceh public ond private property, requiring such an im- mensa outlay to rebuild the city, the debt of 1871 would have boen largely raducod by this timo. As it is, the pooplo of Chlcago, in ad- dition to rebuilding tho city, have bad the courngo and the ability to carry ou their Gov- croment by direct taxation, paying its ex- penses from year to year, % ‘We Liave no disposition to ignore the fact that the city has been unfortuuate in the fail- uro to callect ita taxcs as rapidly as thoy were waonted. One-half of one year'slevy was lost because of the deatruotion of the property on which the tax waa lavied. Aboud the same time thero wns a general and radical change of the whole Revenuslawa of theStato, whioh proved disastrous to the special systemn of col- lection of taxes in thig city. And ons badre- sult was the failure to collect at the usual time, competling the city to meet ita curront expenses with orders on the Treasury pay- sbls out of the taxes when they wero collect- cd. In this way the dus but uncollscted rev- enne of tho city was anticipatedabout a yesr. As fast ns tho tax of 1873 and 1874 is collect- «©d, theae outstanding onders on the Tronsury or scrip will be takon up. Tho uncollected fax, which will newrly all ba collected in time, ia largely in exceas of the outstauding orders. Tt will be seen, therofore, that the doubt or dt?ml upon the crodit of the eity, which the Zimes has 0 wickedly ond mondaciously st~ tempted, has not the slightest warrant in faot or in law. ——————— . Prsorr's usparliamentary conduct has achisvod better results in one hour than a strict conformance to legrislative etiquette and & namby-panby support of his scheme would Dave oblained in years, He throw o thun. Qerbolt into the Dritish Palisment, and, | too well protected. Now will the Times whan Mz, Dissaxss sitampiel] to plek B up | ahow us how ihe city eun b prolecied with AY, AUGUST 13, 1876. and throw it out, ho found that it hadl shoakon the whole nation. Primeott gave Parlinment nn electric shock, which was felt by the entire people of (reat Uritain as if they were a winglo body. His outburst aroused the nation and wos applanded by tho world. 110 biad prosiously proved his case. Ho hiad shown that ships were built in Great Dritain to drown seaten for the purposs of securing the insurance money. 8till he was trifled with. Mr, Disnazwt, reprosenting tho Government, desired to throw his bill over- board. It was then that Prassorn denauneed tho British Government ns leagued with murderers and asenssing. Tho lan- guage was unparliamentary, but not the less offectivo and truo on thal accoung; Mr. Disnarrt attempted to meet it by moving Mr, PLivsory's oxpulsion; ho has ended by hoving the bill ndopted by both Houses, Wo do not know whether it will succeod in corrooting the omirnges upem which Afr. Pristsort. hes boen making meh vigorous warfare; but, if it does not, we have confidence that Mr, Prowsort has suffl- ciant resarve forco to secure the passage of still moro effectivo mensares. Ho is not the sort of man to bo put down, espocially with the Brth prola s i beck PUTTING GREENBACKS AT PAR, ‘Wo print this morning n letter in which o plan is suggested by which specie-paymonts moy be ronched by January, 1879, without any suddon disturbance of values. It is prac- ticable, simple, and direct. It proposea: 1, That holders of greenbacks may present them at the T'rensury at any time and reccivo there- for a 25-year bond, bearing 4§ per cent inter- est, the interest to begin January, 1879, 2, That the greenbacks, aa they are oxchanged for bonds, be ennceled and not ngain issaed, In other words, that the greenbacks bo re. lieved of their present irredecmable charncter by making them redeemeblo in a bond, which bond will hoar intercst after n doy im the future. This schome, like all others having in view the elovation of tho eurrency to pnr and the ultimate retirement of Governmont currency, will meet with the opposition of tho ignorant and fanatical peoplo who talk so wildly abont contraction of the curremcy. Such a bond, if now issued, would probably ‘fato in goldat momething less than the presont *¥alne of the groenbacl; but its value would increase ns tho time drew near, aund with it the valus of tho greenbnck would also in- crense. If the greenback bo mow worth 88 centa, with no immediate mensnres taken for its rodamption at par other thon the indefi- nite promise o resume wpecio-payments in 1879, theso boruds, fundablo in a bond princi, pal and interest paynble in gold, and intorest ot 4} per cont to bogin three yenrs hencs, ought to have a market value nenrly thet of the groemback, Until the bond began to bear intorast, the only differ- enca between it and the greenback would bo that the lattor would be a legal-tender ; but the bond would, nevertheless, pass as cur- rouoy in poyment of debts, It would take tho place of the greenbacks in the payment of largo sums. It wonld have no foreign market until sach time sa it would begin to bear intorest. The now Government b-per- cents now sell at 100@101 in gold. Itis moro than probuble that the proposod 4} twenty-fivo year bonds would soll at par in 1879. At all ovonts, the Government car. rency serip would be at par if the bonds in- to which they would bs oonvertible wers at that point. Until the bonds exceeded par there wonld not necossarily be any rush to invest in them,—tho groenbacks thomselves, as the timo for redomption drew near, grad- ually approximating to par. The greatost bonofit of such a bond, ont- gido of the provision for the ultimate retire- ment of the national gerip, would bo the check it would place on Lhe flnctuations in tho valustion of the currency. The inercmie in value would bo pormanent, and any serious decline in the value of greenbacks woald ba instantly checked by investment in tho bonds. Tho change in valuo would always b & rising one, and there could be no back- ward tarn, The inflationists, howaver, will nat tolerats such n scheme, bocanso their ob- ject ia to reduce, and not increass, tho valno of greenbacks ; to mnko thom pormanently irredeomable, instend of redeoming them in any form, CAN OITY EXPERBES BE REDUCED TWO- 'HIRDI 8P In the last issne of Tnz Tamuxa wo printed a list of tho chief jtema of municipal expenditures upon which the Tax hill for 1875 is based Tho Common Council pro- pored this list and made it lowor than the ostimates of tho Comptroller, This amount, tho 7T'imes, as the profossed organ of tax-Sght- ers and repudiationiste, elaims oan bo reduced two-thirda. This, howeror, 1 altogsther too goneral a statemont, and it nesortions amount to nothing until it can prodnce an itemized bill of reductions, and mnako out B list showing in what dutnils reductions of two-thirds can be made, and what itoms may bo omitted altogether, and then lot us oo how they foot up. We gave these various items of expenditures in groups, sliowing that for street cleaning and repair, harbor- dredging, bridges, tuunel-maintonance, gna fn the public bufldings and parks, $574,600 wers deemed to ba needed by the Council ; for vinducts, ovening-schools, snd tho Firo Department, $0685,000 ; for the expenses of the Henlth Departmout, Bridowell, Police Dapartrment, and courts, $80¢,000: for sal- aries, the Public Library, and judgmnents againat the city, 3260,000 ; for buying lots, building nine scliool-houses, and for the sup- port of schools, 807,000 ; for strect gus, 8300,000 ; for water extension, 300,000 ; for sewers, cxtenaion, repairs, cleaning, etc., $474,000; and $1,000,000 aa interest of the city indebtedness, mnking sn eggregate of $5,310,000. Now, will tho Zimes take theso items, tabulate them, and show which of thom can be reduced two-thirds, and which of them can be stricken out altogether ? In- utond of genasal bluster, end threas of repu, diation, and reckless statemont of gen- aolities, let it como down ip ftems and facts. The sggregate of oxpenditures, a8 eatimated by the Common Counail, foota up, a4 wo have shown, a littls over fivo mill- jons. " The Z'imes clainu that the two ond & half millions are sufflcient to run the city, in- cluding one million for intercat. Whis is ensily enough said, but giva ua the itemized bill of this ammount, and show us how it i to ba dono—how the city can be go! and its municipal needs satisfied for one-third of the present appropriation, not including the intercst on the debt. Begin, for instance, with the itom of achools, Bhow us bow tho children of the city can bs educatsd for one- third of the sum now spent. ‘Take the Fire Department noxt, and explsin how the city 18 to Lo protactod agalnst fire with oue thisd of the present forou of men and engines. ‘Lake the Police Department pext. With the azpenditure of $657,000, we are not any - Max & Co, croated grest oxcitomont in tbe Gold-Room, one-thind of tho present force. And roon with stroet-clonning and repairing, bridges, sowers, nad all otheritoms? Will it havo the city stop repoiring bridges, building side- wnlks, fixing streets, nnd removing nnisancos which nro injurions to health? Theso are practicnl questions, and, beforo wo cotnmence running tho city upon tho Zimes' Chenp. Jolin basis, it will bo well to know how it ia to bo dono and wheora we nre coming ont at tho end of the yenr, and what kind of & look- ing city wa shall have ng the result. e, THE CHICAGO TRIBUNE ON TRE UPS AND DOWNB OF GOLD. + « . Wogasotwo reasons for tho belisf that it wan the gold, and not tha grecnbncks, that jumnrod ahotit 30 wildly In tho Gold-Room when ue fafiurs of DUxcaw, BnRNMAN & Co. wan Anuounced, and Tnwe "Triuene hos not given a fatisfactory answor to sither, Wo repent thowo reasous, oalling theattention of Timx Towuxs thereto ! Pirst—Tt wan uot greenbocks, andt It was gold, that fnctusted n relation to the pricos of all standard articlos llke grain, iron, snd manufsctuzed goods, In New York on the day nameil, Becomid—It was not greenbacks, and i was gold, that fuctiatedt 0 rulation to (e prics of silver on the day named. The Express 18 & soarcher after light, and, if Tne Tumun will show low it waa that gold stood frm and {nfallible, whila ita powsr in purohase of all articlen suddenly snd uniformiy changed, we sball acknonlege a consldorablo debt of obliyation to that newnpspor, In the ralist of tho panic, & dollar grecn- back wonld purehsdo Just a8 much iron, corn, whoat, or silver, an before, and yet the greanbsck ehanged, Wil Tite Taipusw explin t—Zorre Houts (Ind) Kz prese, Tho renson that gold * stood firm” when thesd privato baukers failed waa simply thel gold is the world's currency, and the failure of D,, 8, & Co., did not disturh tha whole world, It has also an intrinsio valuo of its own. 1t {s not a mote or promisa to poy wealth, but is actual wonlth, It is notn shadow, but a substance. It doss not depend like o notw on the solvency, good faith, hon. ar, or honosty of any maker for valuo or pay- ment, bocausa it is poymont itself. It is not only the staudard of value, but nctual value. But tho Frpress still sticks to the ridion- lous iden that it wng gold which beeamo frightencd on the 27th of July, on the an- nguucemont of tha failure of tho private banking-honse of Duxoaw, Bnemaax & Co., and lost value and fluctucted up and down for several hours, and it nssumes that groen- backs stood firm during the temporary pnnic, and that wheat and com wore unafeated in prico becanse they were bought and sold in the greenback currency | Wo hardly know how to argue with a man who belicves such abeurditics. When he is rosolved to pin his foith to a delusion, how can his notions bo changed by any process of reason? But we shinll try once more: 1. 'The Associated Press dispatch fromNow York, July 27, roported as follows : Naw Tonx, July 27.—The failuro of DUNOAN, Brrn- jocting to the payment, as the Chicngo Times tax-fightors are doing hora, and upon this is. sue have voted down tho Liborala, Tha cause of tho TLiboral defeat, thereforo, in pnrely loenl, and hins no religious significance and no offect upon the queation of allan wunity. Wore the question of tho antonomy of Italy na ngainst A restoration of Bourbon and elerio- al rule involved, that country would bo ms united na ever in voting down Ullramontan- ism and Bourbonism by an overwhelming majority. e It ia announced that the Ion. W. D, Kpr- Ley, an ox-niember of tho Nepublican party, who has recontly allied himsolf with tho rag- monoy Domoeracy of Olio, ia to spenk in Chicago. Wo presumo ho will repeat his Youngatown incendiary harangue and his ‘Youngstown cataloguo of fales nseortions. If ho does, wo proposs to convict the Hon. W, D. K. of blatant aaininity and intentionnl or unintentional falsehood. Lol ns eatalogue o fow facts, tho proof of which is ready if his apeoch denios them: If ho says thot contraction lina caused the hard times, the assertion will be falso, bo- causa there hns been cxpansion instead of contraction, na the rocords show. If ho says that inflation will causs better timos, the assertion will bo falso, beosuse wo have it now to redundauey. If he eays that Congress can in Ry way increasa the legal-tonder issuo boyond $400,- 000,000, tho assertion will be false, becousa the Supreme Court wonld decide such issne in timo of posce Lo be unconstitutional and void. If ho snys that an interconvertible paper bonl, bearing 8.65, or 305, or any other serip interost, will Lo a panacen for our finan- cial ills, the sssertion will not only be false, but ridiculous, 1t ho donies that sn irredoemable paper owrrenoy has always led to nationnl disaster and dishonor, the denial will be falso, for history is against him, If ho denies that the inflation of the green- back curroncy means anything but final repu- distion, general bankruptcy, and re.cstab- lishment of Btate Lanks of forty difforent kinds, his denial will be false. 1f bo enya that an ultra protective tariff is ‘boneficial to the consumers of America, that is, the American peoplo, their experionco proves it to ba false, If Lo says that such a tariff i boneficial to tho producers of America, that is, the Amori- can people, the panio of 1873 and tho hard times will refuto such assortions. ¢ he tries, as he did at Youngstown, to in. cito labor to **cluteh capital by the throat," ho will be regnrded by overy rospectablo man in Chicago as » dnstardly demagogue and a blatant Communist. whero tie prico advanced rapidly from 1123 to 18K, and aubsequently doclined to 13y, Stlll lator there wes a relly to 114%, and @ rosction to 11k Tho lut wales ware at 1lds;, This dispotch, divestod of its Gold-Room slang and transloted fnto plain English, will Tend: At the opening of the Board $112% of groonbacks woro given in oxchanga for $100 of gold, Tho amount offered rapidly advauced to §1165; of groentacks for $100 of goid, snd subicquently doclinod to S113%. Bl lutor thora seas a rally to 11436, and & reactlon to $114, Tho aat #alos of grecnbacks wers st 3114)5 for $100 of gald. 8 ‘Thia s literally whot ocourred that day. It doos soem to us that any man with sonse enough to come in when it rains can ses that it wes the papor mcrip callod groonbacks which ftuctuated in value on that occasion. 2, On turning to the Chicago marke$ ro- ports in Tme Temowg of that doy wo find hat whest, 80 fax from mainteining a steady price, as tho £zpress appears to think it did, fluctusted es violently as the greonbacks, The quotations state that wheat opened ot 131,16} in greonbocks por bushel, sdvanced to $1,17, thon foll to $1.18§, thon shot up to $1.183, and cloaod at $1.174,—all for Auguat deliveries, This shows that wheai was per- tnrbed about ns mmoh =8 greenbacks. The advance in price waa caused by the decreasod purchnsing power of tho cmrrency, There wes move paper scrip paid for tho wheat, bat the gold valua of the scrip had proportionate- 1y declined. Wo find that tho price of eom also fluctuated groatly on that dsy. It sold for 70} conts per bushel in greenbacks, and then rose 0 713, also to 734, and closed at 713 Oats alvo fluctuated up and down two or three conta per bushel. But it must bo borme in mind that the «quotations of grain ero always under the in- fluence of two distarbing causss: First, tho Euaropean gold price thercof, which ig do- torminsd by domand and supply, state of the woather, erops, ete. ; socond, grain is doalt in and quoted in groenbnaks, and their gold valuo is ever changing and fluctunting. Thoy are guining or losing purchasing-power or valao overy day. Boing always at a discomt and not redeamed by the Government, thosa fluctuntions ave therefors unavoidable. Greonbncks aré only worth what the New York gold brokers will give for them. Their price s & matter of bar- gain; thoy erc bought ond sold st pubilievendue or auction in the Gold-Room,— 80 many groonbacks for $100 of gold; some- times more, sometimes logs. 'This nfterncon, while wo writo, the telograph quotes them a8 sclling at $113} to $1187 for §100 of gold, ylijgh make thetn worth about 88 por cent of thal¥ face in real money, What thoy may be worth to-morrow or the day after no one is wiso onough to forotell. Some othoer banker or speculator may fail, and down they may go-gnlninnpnhnnhuyd&dwhm the rot- tonnoas of Dowoax, Smmsuax & Co, came to light. To have a national currency at such & divconnt, and snbject to such parpetual ups and downs in valus, 33 Dot only » disgrnce to the nation, but infliots incalonlable infury on the industry and prospority of the comntry. . Surnuax & Co. failure reflects ndditional dis- credit upon the mombers of the suapended firm, and traces a new resomblanco to the Arrax (Cook Comnty Bank) failure in this city. The transfer of largo amounts of real estate to tho father of the senior member of the firm waa the first ovidence of unfair dealing that was brought to light. It seems that tho firm negotioted 1,200,000 of “ accommodntion papor* in the same way in which Azrzx was ancustomed to raise the wind, viz.: by gotting Tom, Dick, or Harry to mnke the paper, and then nogotiating it with their indorsement, as though it wero paper that had como to thom in the regular channel of business, Mr. Duxoar professos to think that this wns logitimate enough, but the Now York bankers and press gonerally have o differont jden of it, and we think that Mr, Ariex's Is about the only preeedent that can bo found for it among men occupying repatable positions s bankers. It has also boeen twice announced that tho elder Duxcan had guaranteed the paymont of the foroign letters of erodit, but now the statement is mado that only a emall proportion of the let- ters have been arrangoed for, and that thoso unprovided are the ones which will prodnce the most distross. Tho fact is, that the fail- ure is growing more and more disreputablo as the particnlars coma out, and it now looks ns though thore had boom praatices which, in somo countries, wonld send a msn to jail. In faoct, the nogotiation of ** accommodation popor® s if it were trado poper drawn agninst goods i the crima for which the Cot- L1z, brothars wero arrestod in England, it bo- ing thero tormod the obtaining of monoy un- der falso protenses. e re— ‘We have preased tho Cincinnati Engiarer, TIntor-Oceun, aud other inflation shoots, to ox- plain how the Government would proceed to got moro irredeomablo green serip into circa- Intion 8o a8 to bonefit the * poor man.” If it buys bonds with new iasues, ow will that help **poor mon” who have no bonds for galo? Poor men can gt all the groonbacks thoy want now if they have anything to give in axchango for them, DBut tho Zaguirer is equal to tho task, It roplioe: Let tho Gov- ernmont stop taxation for a few years, repeal the whisky-tax for instance, and supply tha deficiency by “more groenbacks” until they become ‘‘cheap and abundant.” Of eourse, this would bo adding just 80 much to the national dobt, to ssy nothing of kmocking down the vilue of tho wholocar- rency to 10 or 20 cents on the dollar, perhaps, when gold would bs quoted at 500 or 700, The next step would bo ropudintion of the grosnbacks as worthless, and in that way they wonld be ‘‘psid” Then tho Btata banks would be revived to fill the vecuom, and wo should have again thirty-soven different kinds of wild-cat and blue-pup currenay, and every man would earry in his pocket a Thospaon's Baonk Nots Reporter and Counterfat Detsctor to find out how much the stuff was worth. TThis is the inevitable of the Ohio Democzatio scheme of curroncy watering nd inflation which Pig-Iron Kzrx is coming here toadvo- cate, The returna from the recent elootions in North Oarolina for membors to the Constitn. tional Convention show that it went GO Democrats, 59 Republicans, and 1 Indspend. ent Domocrat, For practical purposes this ix close work, but from a goneral political standpoint this showing is a most remarkablo ons. Considering ibe fact that the Demo- cratls * tidal-wave" last fall camplelely sub- merged the ‘Ropuhblicans, and, s the Demo- cratlo papers at that tims informed us, latt nothing of Republicaniam, ft is sstanishing what an amount of vitality the party poasemcs in North Oarclina. Ons more such resction aa this Iast one would place it im full poases- sion of the State. The advices from Italy in our last issno touching the recent munimpal elections are calculated to ercate the erroncous improssion that tho dofeat of tha Liberals by the com- bination of the Modarates and Clericals places the Ultramontane party in the ascondency. Heretofore, tho Modorates and Libernls have generally unitod egainst the Clericals, and have boun opposed to each other when the Clericals wure out of the coniest. The Liberals ave very strong in most perta of Ituly, and in Northern Italy are partioularly %0, 'ho oocasion of their defeat in theso recent clootions was purely local. During tho past fow yoars the improvement expendi- tures in thae larger oitics, Jiko Genos, Milan, Nuples, Florenov, and Rawe, have been very large. Purks and boulovards hava been laid out, treos planted, now halls, publio buildings, school-houses, and bridgea have been bailt, Custly improvements bave been mads tn the improvemant of watar-works and sewerage feollition. Theoe improvements have en. \ailed heavy locul debta and grestly incroased mm, now that the bills came in, the who nover make any mamicipal fin. ‘The parallel of the Massachuserta Btate Oon- stabulary bas been found in Africa in the Kiog- dom of Wadai, which i# sald to be noar the lsud of the Nlam-Niams, not the Jim-fams, as might be inferved from what follows. 1t sppears that the King of Wsdal, who is uot allowad by his soligion to driok beer, bas ofiolalu called ysarchers,” whoss bosineas it is to loak afier and wherevor they find tha lignor they confiseaie the owner's ontiro proporty and theu shave hiy wifo's head. In Masaachusotta thoy only con. fiscato thia beor ; hut worn they to osrry out the romaining part of the Wadai panalty tho num. bor of sbort-hairod womon in Massschusoits would be psinful to contemplate. 04 Pog-Horn Arvex tolls bis. audlencen thet tho only way to got up to spocio paymonts is tg grow up to them. Judgo Tarr puts an end ta tliat folly in theso torso sentincos: Tong botora wo eatt grow Up 40 au'infated eurrs ths Democratle, or some ofber politieal party, wi Jrens for an lnérsane of grochibaoks, and It they uto powor will enlurgs the ¥ olume of groenbacks by Tiew ifatien, and they woshal’: have 0 begin 10 * groy up*again. But this “ qratdng up” to the currenyy, if practicable at all, tnust have preciscly the semg effoct upon prices and the ‘rulation ofgdebior and crad. itor na contraction, dopariding for i intenaity n Thie prosmize will 3y Marnhal Dunr.ar ia croating vacancion on the force by suminarily fllm:hufl{n clent offtcers,—Journal, Marshal DUNLAP may havo exorcised soms moral influence in thoe matter, but the powor of romoval and summary discharge is vested in hiy subordinate, Jacon Remat, who la entitled to the credit of throwing the two * drunken and inefil. clont” men ont of tho forco. Tho Common Councll Rling may bave not confildence enougy in tho Marabal to vest him with the power of ap. pointing or romoving policomen, but hase oon. fided that suthority $o his subordinate. tho rato at which wo grore up, agalnst tho Himit, o e @ drunken and jucg. ———— Tho following diapateh, recalved yowtarday, will throw pomo light upon the rumorad abscond. ing of Cul. Joycr, ox-Rovoous Agont aé Ei Louis: Garen Laxe, Wik, Aug, 12, 1876.—T% the Fdg! The Gcana Tribune: Yoi e rmont i fuatioe tx your paper of yosterday, I havo givon gocd bail far ulk cliarges ageinat me. Tho law otboers Jtnow thet { ~m bero with my family, and ready abill Hmeaty ubey the oruers of the Conrt. Joux A. Jorcr, late Roven be Agent, s ‘PeNprETox and other Ohlo Democratic stump. era aro in favor of inflating tho currency in onlor to *givo relief to labor, nad to bring tho ecrip up to tho lovel of gold.”" Thoy would also adsise “labor * o wator his molnsses fn crdor to gire reliof to hungor and to bring it up tio sugsr, R POLITIOAL NOTES, Cortain Boston papera lay it dowa as an axiom, that no man should bo electod Governor of Yas. sachnsotts who wll nob sign the doatli-srarzrait of Jesso Pomeroy. That moans Gaston, Derio. orat, present mcambont, Wash DoLean, nccordiug to tho Cinoinnati Times, is bossing the job of 'altiug off Tuur. man and Allen, and bringing Pendleton to the fore,” Has o not heard thut Mr. Wabtarson uays God never monut Pendletion for any bl sgor oflico than Fyreign Ministor? Most soouible ‘mon agreo with Mr, Wattorsou in thi opinioa, Qov. Hendricks mnda 8 mietako, perhaps, whea o consented to joiu Tammaisy, Therais a proju- dico agniust that orgavization in tho West. Al though it 18 & groat deal ol-Jer than Twaoed, ths niost memorable chapter i fts history la xaso- ciated with Twoed ; and tho baro montion of its name in the Wost awakers momorios of Twsol Michigan nowapapors fire rolioviog tho todiun of tho dull senson by discussiog the quatios. tions of tho Hon, Charlea M. Croswell, of Adsi un, for tho Bopublican Gubornatorial nomin tion noxt yonr. Ia not tais promature? Tho Pouti- nc Qazells, Jaokson Citizen, Adrisn Times, aod Adriau Press sposk in iigh terms of sho ceuli- date, The Baltimore Domocrsts hava saseascl all the city snd Btate offloeholdors for the ox- pouses of tho politicst campsign. It'a in the party avd will como out. AN the most ques- tiousblo practicas of the Lopublican party have provailod in the Democratio party from lta vory foundation. And the Bourbons never leamn or fargot. Tt has beon noticed that the rovival of Cmaar's ghost in the Now York LeralioMoo fa colnéidont with the return of yomog Mr. Bonnett from Europo. This striking fact conflrms the com- mon opinton that tho Cwssrism scare was & coinago of Mr. Bonnett's own brain, His linger ing sffsction for tho doad brat s toushing fn tho extreme, Thé Master of s Kannas Grange writes to the Kansas City Times n sosthilog soviow of tho do- ings of the Natiounl body. Ife charges that ol oers of tho Natlonal Grange are fattening on the 1iard oarnivgs of the farmars, and calls on eubor- «dinate Grangos to corroes abuses of power and offect roforms 1o the Ordor. ‘Tho articla sounds 1 good dexl like the shriok of tho American bird of liberty. ‘ The Omsha Zerald decires Tux Tnmurn to correct the atatement that it hopas for tho du- feat of the Domocratio party in Olio thig year. It wants its little **if* digaified; and wo may therofore say that, if A Demooratio victorv in Ollo s to result in fastening inflation on the National platform, tho Heraki hopes Wiilism Allon may be defeated by not fess than 10),(0 majority. This, to bs gure, is & diatinction, with not much of a differonco ; bt fair play’s a jewal. Sonator Bogy, of Missourl, caonot bave stu Jied political saouomy, oven for two woous. Ile has written o lettor two columns nud s Lalf {n longth to abow that the Teal way to contraction i3 by ioflation. He would havo the volumo of cuiron- cy incroasod, and have it absarbed by applyling it to more usos. 'To bogin with, ho woald have th greonbacka used for tho payment of sastms- dntios. Bloss his innoosat soul, nobody has auy troubls fo finding nacs for greenbecks whon onco b gels them [n his hands. Gov. Allen cantiot help belog & rick maa, and he is not responsible for ¢, ather. Thg Clucin: nati Enquirer says no. He inlerited his jrop- orty, but ba ls oaly ‘*earrying out the fiat of civilization™ in haogiug on toit, We protost. Gov. Allon and his party are fiying in the faco of civilizaslon and Providoneo in this matiey of rg- monoy. Lot him bo logiosl, ana kick over tis flatot aivillzaclon," and turn ia bis farm (o ilie Demooratic Central Commitien for & campaign fund, * Go sell what thou Last, and give tothe poor.” At this bohest, no doubt, the old LR would go sway exceeding sorsowlal and become + s bullionist,” for he ia vory rich, TIu the year 1843 Geo. Andrew Jackeon wrote s lottor to Mosea Dawson, Eaq., of Cincinnati, oo tho subjeot of tho curoacy. In that lethir, which was deted Nov, 34, 1842, Gen. Jeakeon said am, snd have ever beo, to ail Xind of Goversinient paper crrmwucy, 1t t e detved from 1 & chaquer or othorwise, IY the paper ia ihe poal repre- seutative of spocic, Wiy uot pay tho debia Io sinele a0d Jot the spoate ciroulate Lo the hands and producinig ciswes ¥ Thon {ha marchaut and tha the merchant, any part of te Uakon. raore, Paper curzancy wanta it. Tho merohant wanis & exchequer bill—bub upon & bankar, whore be lsys B Lis goods—as in Germany, 1t la oue 10 ba upos bumbi ovir attom] imposed st theve 1a BOL spucie enough Ui the world 10 anawsi a1l the necewsary wants of tiu comuunity. Lok Ab Ouba. There ia no paper thero, Suut oul from dr calation all papor, sud spesss will flow upon os 34 it UUde ; but it Wit never fluw to any souniry (bab bss d pabe; oureency, which will always dop: ual ia a great surse taauy peaplé, s0d ror of any country, £0r L A praciation alweys falls upon the labver. In s speoch deliversd in tho Henate of L) United States, in 1834, Mr. Dounton thus vigor ously summed np the morits and advsntagos of & gold currency. At this day, when the American peaple at large have almons lost all knowladge of that metal, aud whoa the champions of irredeean able papor money seom $o bo earrying it with & higha hand, in and out of Congreas, It ts » good time to put upon record the nine selid_advaa- tagea which Mr. Benton sscribed 40 & hard-owesy et irrtringio hich " ours wl i eins o, TS T han S iforiatty of yarua which bukat & 1his salent stsudant of the m::z wiich the vered, iy, wich s ouy soe 4 trayoler o cavry it sboat with bl makos 4 106 ocal ““fi thale b i, and he sasicst sadest o the oo o) cidie menay, RIS SRS P P PG T A B @ Tl ama ] ¥ FE% -