Chicago Daily Tribune Newspaper, August 20, 1875, Page 1

- @he Chicane daily Trtbune. | VOLUME 28. eSS GROCERIES, &o, ALLEN, KEITH & (0, 34 & 36 Randolph-st, cor, Wabeshar, . 5,000 Chosta Now Japans, only thirty days from Yokobams. 1,000 Ohosta Young Hyson, Imperials, and Oolongs. Syrups & Molasses. tibls in store and arriving. HISH 5,000 kogs in store and arriving. TOBACCO. 10,000 plegs Flug, Fine Cut, and Bmoking, CIGARS. 500,000, from the finest Importod down to the cheapest Domostic, Gunpowder, The above goods we offer at very low prioes, and JOBDERS will consult their in- terost by looking through our large atook botore purchamng. Curoaao, Augunt 0. Cuioaco, Avguet®. o TH.AS. der; per 1b, 80, 60, T5c—Btandsrd, G izt et i G, G0, Toe—Standar Japan, pet b, 80, 60c—8landerd, 1b, 40, b0, 6Co—Btand: be Englty Brcaktant: per Ib, 80, C0c—Blandard, ... . 150 e Blandard Téas are tnsiirpaaed for excaliency of favor, Bent 0. O. D, 1o )l parts of 11 United Bistes. " EXT OIS OINT, e 107 Sauth Cinrkest. NEW PUBLICATIONS. SCRIBNERS MONTHLY SEPTEMBER NUMBER NOW READY, contaion sixty-five engravings: the continuation of Dr. Holland's wtory ; & Critical Paper by Bledinan ;& psper on the Rhakepeare Death-Mask, by Wiliiam Pago, besidoa numerous Skotches, Eessys, ‘Poems, and Reviews. CONTENTS. Dy J, W. BHEARAN : A graphlo m&fif- 5‘1}%"(’!‘%1 city of the West. giving statistics Pia population snd irade; bistory of lis growih, aketchios of apme of ita monl eminent men, otc., with tnirty engravings, lllustrating its bulldings, parks, and smost prominent festures, A Dead Hoart, (Poem) Dy MARY L. RITTER, ‘The Myaterions Island, Dy JULES VERNE, Tho Oross of Cadmon. By C. A, DE RAY. tudy of Bhakspoars's Portraits, (iffus,) Dy WILL- 4 s1‘m’muz‘. b Fage, freal from Darmatadt, whith- or he weat for the express purpose of atudying the ¥ aerien Death-Mask,™ takes up {he pen in favor of its authienticity, Accompanying the articlo are two fino engravings from Mr, Fage's photographa of the muk Shis number AFammer's Vacatlons Guernasy and Bark, Dy GEO. B, WAHING, Jr. The arllclo hae over (hirly engray ul_gilmpeo o g ey of theso plcturedgus Chaucel Inianda, Omulsclencs, (Peem.) Dy ALICE WILLIAMS, Tho Blory of Boyonosks, (Continued.) Dy J.G,HOL- LAND. Thin reris) grows in internst with each chap- ter. I the present tustallment Mr, Belcher pincs for a Theological Beminary,™ Early Poom by Allsn Pos, This poem has A]:uvur’wlcn .5..’35‘.&’ in print, and is now repro- ducod in fs0 slmile from the album pege on which it was writtens ‘Part1. Dy EDMUND OLAB- "Efl%fi'@fi:\?;flf’m)\ eFitical study of the lose- Xknown modarn Eoglish posts, Awer Ronding “Moriturl Balotamus” (Poem) Dy CHARLOTTE F. LATES, The Cold Bnap. Dy EDWARD BELLAMY. Alms Mater's Boll, (Poam.) By EDWARD EVER- ELT MALL, Tilda ABlory, By KATE B, FOOT, ‘How the Declaration waa Baved. “The Bunsbine of Thine Eyes!! (Posm) DBy G. P LATUROP. ‘Tux EDITORIAL DEPARTMENTS : Taples of the Time —~Tho O.d Usbinet—1lome and Boclety—The World's ‘Work—Oulturs snd Progross—Dric-a-Irac—are, a8 nag;l, full of valuable acticles on a great varloty of sabjects. Price, 84 & Yenr; 35 cents » number. SCRIBNER & CO., 743 BROADWAY, NEW YORK. PIPULAR SCIENCE MONTHLY, (Batablisked DIny, 1872.) Oonduoted by Prof. E. L. YOUMANS, 'CONTENTS FOR nr.vrpunzx. L a%:;unu Qulture. By Professor Josish P, a1 Teatares of the Colorado Valley, 11 e o Gumonss Dy Majar 3, W. Fowell, (luwirated.) I, A Popular Verdict, g e & 1V, Tempered Glasa, By Perry ¥. Nursey, O, lusirated,) V, Frosh-Water Mollusks, Dy Prof. Edward 8, Morse., (Tiustrated.) VL ‘n{h?uw Harmonles of Belengs and Religion. ¥IL The Grest Tows Meteor, By Dr, Gualavus Helnricas, llustrated,) VIIL. Tause Ventilation. \X. Crsnial Amulets. By Dr.J. Bartillon. (Tlus. trated) 4 L. The Usa of Narcotios. X, Sketeh of Jalius E, Hilgerd. (Portrait) XIL Eorros’s TABLE D lsodll Experiment—* Knox the Iacomparable. Liremany Notiora: Hartwig's Aerisl World— Lubbock's British Wild Flowers constdered in Telation to lnsects—Alexandes's Harmony of ihe Balir Hystem—Gill's Catalos of “the glthu the East Goast of North America— of .l‘:n' Manusl of Dietin Healih aud Dls- -eaae, MiscxrLawys Herbert Spencer—The Uss of Parls Green—Periodidt) wnl ‘Thunder-storma —How we keep our Mouths shut—Alissksn Aleutisn Mummiea—Age of the Niagars Gorgs —lluzley ou the Amphioxus—\Vat Bavaues - thlak of Twina—Iraf, Loomis on the Blorms sot e Uulted Blatea—Laborers' Homes— Lighiaing ixoks, ste, ST eeOvery from Nozzs. 'm: $5 pot aunum, postege free, or 80 conts per ArrLxton’ JOURKAL 354 Tax Poruras Boresos MorTaLy, together, fur §8.00 e VAT S0nUm, postags pres D, APPLETON & COMPANY, 540 & 551 Broadway, New York. ~ YRACTIONAL CORRENOY, i AU RPN RN O NRENOY, . $5.00 Packages FRACTIONAL CURRENCY 1IN EXOHANGE FOB Bills of National Cqrreney, TRIBUNE OFTICE| FINANOIALS B A B Mierchants', Farmers', & Mechanics' SAVINGS BANK, 75 CLARK-ST., CHICAGO. INVESTIENT_CERTIFICATES, Porot Seoarity—Liberal Tutres, TASLE ef Incrensc of **Inveatment Certin- cnten,¥ aecared on improved real estate, bears Ing Interesty able In quarterly inntall- ments, at the rate of 7 3.10 per ceut pernn- nupe Sbowing tho mecumulntion of anms In- veated for the beneat of Clilldren or othersty A 1t R T, AT 8 100 o1 104 100, 500, 500. 500. 3,4ML70 10 mated upon the bssis thel erest, when due, I8 i an auvingt acoount, and lavened tn 1NV EST. MENT CERTIFIOATHS whonever 8100 la thus acouma- Iatads olderof a Gertificate has the privflogo of axamia- Ing the conditlon of the tust at any time on cailing at tho oMoo of the Trustee. ‘Gertificatos farmardod, and laterast, when due, rela- vestad, {{ dastesd, or romitted by drsft of sxpross 1o say Dartof the Unlted Bates. Address SYDNKY MYRRS. Mavager, LAKR VIEW WATER BONDS. W ars now prepared lo fill orders for thess tonds, and fully recommend them to parties sceking a eafe and proftable investment. PRESTON, KEAN & CO., Bankers, 100 Washivgton-st, CHICAGO MORTGAGEKLOAI\’S, At curront rates of interos! TOSIAIL EH. REBED, 20 Nassaiint,, Now York, resreacated by JOHIN . AVERY & CO-, L, o s Firatecl ) HT B 13 T VAT Tt e 9 Per Cent Loans. We are prepared to negotiate losns in sums of $5,000 or over at § per cent, Smaller sums to anit at 10 per cont, TURNER & DOND, 102 Washington-at. ~_FIREIN ANCE. FIRE INSURANCE. ‘Westchester TIRE INSURANGE 00. OF NEW YORK, ORGANIZED 1847, Cash Asscts... .$850,000 St. Nicholas INSURANGE COMPANY OF NEW YORK Cogh ABSOLErreers eer..B350,000 The above Compstics are INDEPENDENT, and muaky thels own roike. | Desizable Xiska writlen upon application to their agent, EDWARD M. TEALL, IN THE TRIBUNEBUTLDING INQUIRE OF WILLIAM C. DOW, AT COST. OUR ENTIRE RETAIL STOCK, COMPOSED OF . DECORATED AND PLAIN OHINA, Dinner and Tea Sets, {Bilver-Plated Ware, Chamber Seta, Table Cutlery, and Yases, Glassware, Fancy Qoods, POSITIVELY AT COST UNTIL CLOSED OUT, in- ciuding Bhow Cases sud Tablew, KENT & KEITH, Hucceasors to BOWEN & KENT, 262 & 2064 Wabash-nv. Will continue our Wholeaslo Businesa as ususl, GUNS. Spencer 28TD 1897, Guns ' L) Warrsnted to shoot well, * Prices at bottom, Bend for New Prices, 54 STATE-ST., Chicago, = POOLBALES, POOLS BOLD ON THE Yacht Race, also the Ball Matches, At Foley &k Ryan's, 14 Clark-s m., by CHAS, L. DUBOIB. GOLLECTION AGENOY, % TELE House thiat places fts colioctions sa soon aa overdue Das less loas, sells chieaper than the long credit man, and, of courv, doon larger business. A word to the wiss, ele, Hand in your claims before s hard winter strikes the delinguents, YRABLER'S OOLLROTION AGENCY, Corner Konros and Blal __SOALES. FAIRBANKS' STANDARD SCALES oF ALL XiND3, FAIRBANKS, MORSE & 0O, 131 & 113 Lake St., Chicugo. Be caretultobuy oaly the Gunulns, at 8p.m.sndIla, C HICAGO, FRIDAY, AUGUST 20, 1875. ANTI-INFLATION. Chicago Shows a Sound Fi- nancial Record. Views of Prominent Bankors, Merchants, Etc,, on tho Currency Question. An Unanimous Expression of Opinion Against Inflation. All Are in Favor of a Return to Bpacle-Payments. And Believe It Can Be Douo by the Time Set by Congress. Evil Effects of an Irredesmable Cur-~ renoy on Trade, lliustrations of the Difficulties Merchants Lahor Under. Mr. Kelley's Pot Scheme Meots with but Little Favor. Farwell's Senti- ments, Congressman The {nteront exclted fu rogard to the financial policy of the coustry by tlie Obio coutest, avd by the efforts at juflationist propagandiem in vanous portions of the Weat, giva impoitanco to tho viows of prominent business mon at this period, The floancial debatos of tho last sossion of Congrens, snd the thorough discuseion of the subject in the press, Las had the effect of plac- ing all tho argumonta befure the public, 50 that tho opiniona given bolow ropresent the materinl judgment and sobor asccond thought of repre- Bontative .mon of the Lusiness community, Loading banks and merchants wore visited yoss terday by reportors of Tur Tminyxe, and the following expressions of viows elicited ¢ e ‘THE BANKERS, 3. IBVING FEAICE. . Tho repottor of Tue TRIvUNE catled first upon a number of the leading Lankers and asked their opinions on the subjoct of finances. To tho question whother any incrense of the logal-ton- der issuo would Lo benoficial, Mr. J. lIrving Ponrco, President of tho Tuird Natooal Daok, returued a decided negative. Mr. ’earce~Thero iu no ueed for tho isans of asiglo groesback. The present Lanking law supplios amplo facilitios for incroasing tho cus- renoy whenevor the wants of trade will roquire it. The papor issuc is now greater than the re- quirementa of buninoss. Reporter—Do you think resumption might bo snfely accomplishied by the timo fixod at tho last sesaion of Congress ? Mr. Pearco—My opinlon ia that if tho nffairaof the Gavornment are decently managed 1t wil) be ready to rosume then, There sbould be Jegislu- tion to make the approximation of the groen- back to par & gradual movemout, buc I have seon fluctustions of 10 per ceut in six mon:hs or & year, aud business went on nevortholess. The Treasury votes should ultimately ba rotired to tho Jast dollar. 'The Government lLias no moro right to be dishonest in ite dealings than the individual, Aslong ws it promises to pay, and does Lot do i, 1t diskonora ity vaper, 'The ctooubnek {8 & Jegal tender as a War moasure. fmntained ib & tiume of pesce, tho groenback bocomen & lie ou its faco, Now if the Govern- ment 18 not ab.e to pay its dobia, lot it say when 1t will, give its creditors somo certificato of in- debtodnexs, and pay tLem interest winlo it keeps their money, o Roporter—What do you think ofEelley's inter~ convartivle 8.66-bond schemo ? Mr. Dierce, dhe ihing is no ridiculona thatit is ot worth talkiog about, If Goveruwent is guiag to run tho Lavkiug business it will opon another field for tho bummers. It is lsrd to understand what Kelloy 1 after anyliow. 1o talks of the $40,000,000 s yoar paid to tho banks a0 jntercat ou the Londs “doposited an sccuniy for the Natioual bank circulation, ay if it _wero » bardebip to the people, Now rupposo all the National bank note circulation wers retirad and Treasury uotles substitused, would that leacau tho amount 0 be patd on tho bonds now de- posited by . banks? Js the obligation of tho Government;any less 1o tho banks than to o individual boudholder? The &20,(00,000 & year will have to be paid on tho bonds whather they ate in the custody of the Gaveenmeat or tho hauds of the stovkholders of tho bauk, and baw thon will the poor man be helped ? Ketloy talks & great deal about the poor man, but none of is schemes are caloulated to help Inm, but ma for thie benout of apeculators, and stock and gold gamblers. Tho *debtor class™ is uot composed of poor men, but of spoculators, who profers to bo gilt-edged. If they fail 1n their Echemes, thoy have no more clatm on tho Gove orument than a man who has boen buntoced. In- fation would send prices kiting up, and tho wagos of the poor man would follow vory slowly. 1 Lohere I was read out s ouo af the Vice- Prosdonts at Kelley's mosting, but I bog leave to diffor with bim. MR COOLBATALL. The reporter then caltad upon Mr, W. F. Cool- baugh, Prosiaent of tho Uujon National Lauk, but tbat gentloman dectinod giving Auy expres- slon to his opimon at that time, as he intonds to Iay hin views Lefors tho publio in snothor way befare long. The reporter then called upon MR LYMAN J, 0AOE, Cashier of the Firsc National Bank, Mr. Gage was very buay, but manuged to scswer tho re- porter's questions in the iutervals of ruunivg over bis pspers. t do you think of a% inoiease Heporter—\Y] of the paper jssue In the present condition of ailaire P Mr. Gago—It would be very injudiclous. It would nos corfoct Lbe prosent evils, and wontd sggeavate them. What {4 needed ta for tho country to got back to the mouey of civiliza~ tion, the mouey Ly which thoe world performs ita exolsLgos, Reportor—Do you think it l;rlcuublu o re- sumo by the time fixed 10 the bill passed by tue last Cobyrese ¢ Mr. Gage—Not without antecedent leglulation to provide tho necessary coin, or to iund the reenbacks. There s no reason with proper exiolation why resumoption should not take place thou. ‘Therals no fear but what, the tsake will be ready when the time comes, l.et Goy- sinoient get out of the way, aud (he bauka will tako care of themsolvon. Itoporter—What do you think of tho issue of 8.05 bonds \\m?fllld by Keltev ? Mr. Gage -1t would™ bring the bavks and tho Goyvernment into compeiition fur 1d.e fuods, aud probably roduce bank devosits, and by sa much ourtail the ability of the bauks to serve the commeroial interemta of she conotsy. 1f, a8 Kally eoma t0 propote, she greenbacks ob- talvod Ly tbe sale of the 8.65 bouds areto Lo uwed ib retinng gold bonde, aud now greeubacks be isaued o redoem the 8,65 bouda wheu pre- seutod, then tha (loverument would be turued {nto a greenback mlil for the benefit of epecu- lators, For iustsuco, if & min with 100,000 luvests 1t 1n 465 boucs, d the Uoverument usca the wouey to buy kuld bouds or uthor purpoves, whon he presents bls bonds for redemption au_ fewue of 100,000 with the soarued luterest wust be mad hore is no theosetical Jimit to the mumber of timea tho operation may be repeated aud the curreucy fu- Histed to the exient dealrud by the spoculatar. 1In fact, tho whole schemo is the sbsurdest thing aver conceived, Tho renorter calied next on Mr, I, F. Eamen, President of the Commercial Nationa] Bank, but |hgu.|gen|lumnu waa not iuclined to express auy opiuion, » MR, 7, 0. RUTTER, Presidont of tha U'raders’ National Bank, wes then ealled upon. Reporter Do vou think sny fnrther lssne of pnfi would be of any Lonefit to the country 7 Rtutter--We do not sant any more irre- denmslle paper, We have wot too much now, aud that ix what maiien all tho troable, oparter—1jo you think resumption can tako place at the time fixed Ly Congrens 7 Mr. Buter—Tho tfixing of tho dsto was & maova in the right direction, but unless somo- 1hing I8 done tn prepare for resumption, the nct will he of no more account than a political reso- Intion, I mveell do not favor the fixmg of & date at which resumption moxt take piace, but mould have such & policy ndopte: and such log- ination coacted a8 to appreciate tho green- tack to par, Bometbing in tho nature of au intarent-bearing Treasury uoto might bo desir- ablo, tu ba issued from time to tis in place of grecubacks, Reporter—What do you think of Kelley's pauacea for political ills? Mr. Huttor—It ia an sbsurd scheme, and the staurdeet thing sbout it 14 tho profession that it in put forward to heip tho poorman. The dejre- ciation of paper reaulting from the inflation of tuo currency would chest’ and derpoil the joor man aut of his carningd. Tho puschastiy pover of his money would bo decresscd, and by #o much bis meaus be impaired. Tl value ot the farmer's products aro not regulated by the amonnt of currency 1 tha country, but by supply sud demand. In 1853, I boliove. corn wnld at 80 cent s bunbel, Yot I bava ween it ecll an Jow an 80 conts, with gold at a lugh jremium, What we nesd is ot a0 expannion of the emrancy but ita wn;' rtibility in cown, and fben it will regulate itaclf. Tho rororter then ealled on MM, J. C. MAINES, Presidont of the Becnrity Savinga Bank, Reporter—Ar. Haines, what are vour views on tho financial queation? Do wo waut more cur- rency ? Mr. falpes—~No. Ttepotter—Do yon favor speclo reunmEtlan, or dn you think Keiloy's 3.06 iuterconvartible boud 10 Do tho thing ? Mr. Laines—I havo nover givon Judge Kol- loy's plan much thought, but 1 behave in the principlo of tho interconvertibility of bondm sud currency to a timited degreo, With the legal- tender and the National Bunk acts, redemption cosnod, and bunincus has beew conducted ois the basis of irredeomable paper. 1 we siould drop suddenly back to hard pan, thete would be a bad smash, At preaent tuerc is & bord, iuclastic cundition of the fiuances, aud tho country oecil- lates botweon poriods of plethora and striu- goucy. Now, If 1n times when a rodundancy of money oz, it could be gathered into tho United States Tremsury at a low wmte of futerest, & safo reservoir would bo provided for wcness nct needed in busiuess operatious, from which cur- renay could bo drawn out as required by thio wants of trade. Without suck a reservoir, money accawnulates, atid in order to place it un- eafo tiske aro taken, unromuuerative euteryrises aro undertaken, and, when the time of Atringen- ¢y comew, the monoy cannot be reclaimed, the pressure in tho money market forces down valuen, and Iailuro sud crive may follow, My wlea 8 to creato an ackive redomption of bank- uotes in greenbacks, and I sm_conviuced that will bring us to resumption by degrees, 1 would make the greenback B Mttlo beiter than the bank-noto’ by making it oxchavgable at avy time for certificates ol doposit beanug futerest at from 1 to 2 per cent ss may Lo found ex- pedient. This would briug out all the hoarded greoubncks, and corporationa would soit out grocubacks from bauk-rotes, 1n order to o~ chongo thom for interest-bosrivg Tresury cor- tticates. ‘This wou.d causo a movement of bauk-uotes to their bavks of ienue, in ordcr to bo redocmed in groenbacks. Such iedembtion onca begun wouid finally end in resumption, A sudden resumption at any fixed ume would break the country. In ordor to 1esume we must sccumnlate coin, aud we casuor do that unless the balance of trado was turned sufliciently in _our fayor to check the exportof gold. If redemption of bank-noicu in greenbacks would be steadily maintaioed, the Lauks would be constraiucd 1o resirict thair ad- vancos to actual busiuess operatious, and tho country would be brought into s moro hoaithy condition, Banking ahould bo freo. Congress shonld repeal tho tax of 10 per cent oo tno cir- culstion of State banks and lot them get up notos good enough to go wide by mide with the Nusiousl Banks, XE. D. D. BTENCER, Premdent of the State Baviugs Institution, on being epoken ta in regard te the subject, ssd tbat Le did not kuow auyihivg abous Kel- loy's pchome, sy Le bLad uot Lad timo to pay any attention to his statewmonts. ®Tha conn= tey was suffering from overissucs of _paper, and more would nggiavate the evil. With proper logislation, resumption would bo perfecidy practicable in & short potiod. ——— WHOLESALE MERCHANTS, MIL 19AAC N, HARMON, of the firm of Harmon, Meiriam & Co., cornor of Wabash avenue aud Bouth Water rireots, wis algo intorviowed on the subfect. Innpswerto an inqulry as to the standing of his firm on the inflation quostion, he ssmd: *We aro not at ull in favor of iuflation, We want nowoso papor monoy than cau boe redeemed in coin.” . K.—1lavo you soen the effects of » variable fluctuatiug curroncy in your businoss? Mr, IL.—Yos, sir, Nob au bour goes by bnt that we feol it, and it js causinyg losy, uncertain- ty, and a goneral {nstability that is iojurious to trade. There, for instance, is n grado of cofloe (pointiug to a samplo), which we may bo ablo (o buy for 21 centa gold to-day, nith gold at £1,13. Wo dou't ‘“cover™ perhaps for ety days, aud soll the coffeo upon the basis of dta price with gold &t that rato, Dut gold at tho timo payment is duo may bo 114 or 115, when we will sctually bave sustained n Joss onall we have wold, Woare supject all the timo to theso variations. J.—1 supposo sometimey thoy are iu your fa- vor? Mr, Il.—Bometimes, But we would much rather do buniuess on a solid, unchangeablo ba- sis, and kuow all the time right whote wo aro. Inflatiou ts & humbug, and 1 cnnot concsive Liow mien can be such idiots as to faror it. R.—Have you considored any scheme by which the Govarnmont could essily and safely resnmeo? Mr. H.—I thiok they should put their bondy on the market, and fndumy draw in guld and redeem gresnbacks, 1 would ‘Lave all tho Na- tional Banks slso gradually coutract thie bulk of toeir clioulation “sand ‘have oply wuch an awmount outstanding ws they . are able The currency ~of Eugland eotitely upon & guld basta, Yot but little coin is in circalation In its trade. ut every uank-note 1s backed up with it equivalunt in gold. The bauks can redoemn every bil of 1t, and it cunstitutes s never-varving ourrency. Our Huances sbould be on the sawe footing, 1t.—Could the Goveroment roalize a suflicient amoust of gold 2 M1, H,~There hss bequ an unusal demsnd for fuld rocently, and hence a mcarcity of 16, Tow has been caussd by tho effort now muking by Franca to recumn to » specie basis, aod from Gor- misoy's demonetiziug ity stlver and Pubastituting gold therefor, A great dual of gold has been drawn out of market at present by thous causos. ‘Lhe reports 10 ocummerclal papers show an im- wmopse exportation of guld. Tne balunces of teade with otlor nations, too, have buen sgainst us, and we have Lot Feen getting gold iu tetarn for our products, But roaum.iou wil come about gradusllv, aud thoro willbo uo trouble. R.—Do you thivk the Resumplion act atlows sulliciont f.me. Mr, [{,—Yos #ir, I do, Four years is time snongh. Most of tho logitimate liue of mer- chatts aro ready for it now, It is quly the upeo~ utabivo clusses who wish any detay. 1i.—You thiok the volume of meooy is sufli- ciout fur sl prasect veeds 7 Mr. I —Ample. There is woro money, such a3 1t {8, than the coantry noeds, ssis oviuced by the | nw rato of iujerest. Mouoy hasbeen plenty &g from 3 Lo 3 per cant. 1t.—WLhat do you thluk Kolley's 8,85 boud scheme? Mr, 1L.~I have not looked {oto it. Kelley ls anidiot. Ile vuid Liere thet no oue had ovor ost » cout by thie greenbnek. That's the statement of an ignpramus, ‘Tho instauce of the coffee showed you the faluity of it. Tho rise of gold a6 tho Lie we Lave 10 pay for 14, of bue dechuo of the groenback, which ia the eame thing, ocea- sions un a lons, sa I have explained to you. It.—You buy most of your goods In goid, do you not ? M1, 11.—Yes ; most of our ataplo articles, and thexo varistions in tha value of our curreucy ives us trouble every hour. Talk sbout ot oming by greonlacks.—It's all bosh. For in- Atance, during tho War, when gold was 220, a friend of miue bought pork at 333 a barrel, cure raucy. Before he mold it, gold declived to 119, and pork (2 §21. The decline took place simp) bacanan the purchasing power of tho groenla 1 Ir'.fl]ll increascd, but bio biad actuslly lost £17 atarrel. R. 3. ENNITT. Mr. R.J. Dennett, of William M. Heyt & Co., was next called upon, [le had not given the snbject much stiention, he aawd, but epoke strongly avaivst inflation, The powition of the firn, ho said, had alwave boou for mpecdy ro- sumption, R.—Your businean is of s kind very suscepti- blo to gold fustuation. I beliove 7 Mr. Ii.—Yes, sir. Wo im0t & good maoy of our goulds diract, and buy large guantities i gold, snd wo are nover ablo to tell juat what they aro combi, un. We never know whon to **eover " our gold pur- chanes. Gold e highor at tho tino the: due thanu now, and it may be lower. These van- atiops have never occasioued un much loan,—thoy have becn abous even,—but thny tond to unsettle trade. Weo bhad mnuch raiber bo aulng busiuess ou an unllexiblo basis, T.—Do you think apecie-paymont could be ro- turned to Within the time ret ¢ 3Mr, B~ thiok tho timo sllowed in long enongh. 1t could not coma may too quick for moet of the moicantile intereats of the country, ‘Wo are ready for, and wonld like to be doin business entirely on gold basin to-day. Lut'a gradual return 18 better for a good many iutor- ests, There is no doubt that a sudden resump- tion wonld create a panic. In four ycars, (bough, men can ahago their business to meet it, nud 1t can bo brought about withont causing hardships o sy one. Nous tut wild specue laturs, sho want toinfatoand overdoeverything, want any ioflation. The present bulk of “money in more now than can fiud investments. 1am glau to see Tne TRIDUNE pitch 1nto the intle- tioniats, Jt.—What do you think of the 3.65 bond plan of Pig-Iron Kelloy ? 3ir. D.—I have not posted mysoif, but I wonld not want Lo accept any plan otered by sucua ciazy iufistiomat. MLSRKS. BTEWART, ALDRICH & CO.. wholesale grocers, 48 Lako etrcot, wero next called npop. In Aoawer to o fulorier's quce- tone, Mr. Blowart said the firmiwers opposed to inffation, and considered thero was too much in- flaton tow to suit tho best busnors iutesests of the couutry. They were iu Iavor of honest money witich would express & fixed measure of value. As to tha date of resumption, they weru katintied with thatjtizad by Congrees, ahonli ths prowmise bo honeatly cxecutod then. With rogatd to Kelluy's 3.65 bonds, 3r. Stewart had no opioton to expross ; be did not tbiok that subject worthy of considerstion. MISAS. PARGO & CO., whalesale boots and shoes, No. 264 Madison streel, woro uext interviewed, In respunse lo ihe 1eporter’a questions, Mr. C. II. Fargo rmid thoy bad boen opposed to intlation for u long time, and thooght tho fant issuo of 211,000,000 of grecnbacks & big mistako. The timo fized for resumption was carly euough: 1 gave the peoploc R Oppor- tunity to prepare for it. They wera opposed to Kelloy's project, belloving that it would be detri- mentsl both to the iutercat« of business peoplo and the working classes. 1f Kolley's recommen- dations were cuniicd ont, we would bave an in- finted _currency, which wurt, L the loug run, ro- sult divaatrously, Bo far as tho morcantils 1n. terets wote concerued. perhaps iniation would be a temporary veuafit, but it would have bad resultd in the end ; Lhoir mierests wonld best bo subkerved by returuing t0 Bpecio pPuyluiente s oarly as possible. KEEDEDARD & BREAXEY. The firm of Hocberger & Lrealioy, wholesala Lardware dealers, No. 38 Lake street, were noxt visited. ‘The following converration tuok pluce botweon Mr. Seepergor and tho reporter : Toporter—Are you in favor of wilation, Mr. Bn«\m%»r 2 Mr, Bebergor—No, slrg I amysgrongly op- posed to it t.—Will you kindly give mo your teasons ? Mr, 8,—Well, 38 a merchaut 1 thinkit 18 & very ansutitfactory cuudition of thiugs to have our values constantly disturbed by the fluctuatious of groenbacks. “Tho remody, sa eowe funplu call it, of iutlation would ooly rosult in tuture evil, and thorefuro I am in favor of spocle pay~ monty, R.—Wbat do you think of the date fixed for resumption ? Mr. 8,.—I think reaumption should take place st the edrliest moment cousistent with the busi- nee interosts of thoe country. It would be bad to Lsve & too sudden contraction, wiich would be jurious in ity efect to the intereat of busi- nasa people gouerally, On tho other band, s ustural retuvn to specie pavments, which, it recton to mo, will occur at no distant day, is to bo desited. It.—What do you think of Kolley'a 3.65 sehemo ¢ r. 8.—1 thiuk there is nothing o it caleu- Iated to du the working clanses, for whom he pro- fescen to bo Iaboring, any good. Inflation would bo an inevitable reeult of his project; it is, fact, juflaticn under anotber uname. 1t -abong in 4 would be only elimbing up bitl to-day o mareh down to-morrow. The result of the legisiation 130 desires would be A reaction which would bo worso 1b tho eud tnau to allow things to remain o a condition that looks towards ultimato re- sutaption. A Ii.—What, In your opinion, is the strong rea- 80 ngAINAL PRper mMouey ? Me, 5.—Tho great troiblo is that it is Impoesi- Dle to #ee far enough abead to prevent losses upon the goods ouo Landles. We aioat the moroy of the chaugos which are coustanly oo- cmring. It In_impossible to guard agsinst foss at all times, Weocould trado much sator if we Lad bard mouey. HIADAND, SVENCER & €O, Mr. A. E. Bartlett, of tibbard, Sponcer & Co., whclesalo dealers tn Lardsare aod tinuers' stock, oxpressed decided opposition to intlation oa the genersl grouud tbai thore was o fixed value of their goods with the present chauge- able ecurrency. They were saiisled with the date of rosumption. ~ As to Keliuy's bouds, he couidered it bardly macewsnry tO express an opinion thereon; fndeod, he had given litile at- sention to tho projoct on mccount of ity general unworthiness, MB. DURAND, of Durand & Co., Noa. 42 44, sod 46 Wabash avenuo, was next subjocted to & eorics interro- gations, He stated that be had devoted-but litile atten- tion to tho subjoect, and did not feel liks giving an opinion, R.—All ] want are your views - as s praotical business man., Nr. D.—Well, we ara atrong agslost rag money sud inflation, and wo want a specis resumption a8 800D 84 it can prudently be brought sbout. 1f 1t was put forward too suddeuly it would ua- dunbtedly distusb the country, 3.-—Do you thlok it cau Do eafely brough o time provided for Ly C'ongross, Mr, I%—Yes, I think four years a sutticieat notice for everybody to get ready for it. I, —Your trade, I nuderstand, is grestly icon- veuieunced by an uoscttied condition of monatary atfairs 7 Mr. D.—Yes : wa foel It everyday. Waosn- not tell ;n-: what vur goods are costing us, aud wo are ofien solliog thew at a loes. Everybudy wlio 1 solvent goes for resumption, It s only thoso who are in Lad tinaucisl condition who waut iufiation, untess it is a recisless horde of epeculatury, Teal-estate men for instauce, who know tuac wiile they can keep the mouey of the country in su uusettled coudilion they cau make » domand for real estais as a safe investment, and hence yun up the price. Th avd & rabble of reckloss ;tnhl operators, are auxious for 1wAatiou, and would nover lika to sco bisinces transacted upon & avlid go'd banis, cor- tan and untloctuativg, If it was brought down to 8 d1iect 188U Debween 783-mONSY LA FesUP= tion, I dou't know but rag-moovy would wi. ‘Fso peopls who voted for it would know that it was au jujury Lo tho country ; but they wouid do sa for tho wake of epeculatious in whioh they expoctod 1o bo shrewd enough to realizo a protit. ‘F'uey would favor it regardiess of cunseiuenoces as jong a8 they waw prosent gain and wers suarp suough to come through uoburt, Thus wight be the case with Iarge cities in which thie spoculative elemant I8 powerful, but I dou's sse bow the Grangers who can sall their products for old can favor inllation, ur bo opposed Lo a0 oar- y tosumptlon. I am looking with & good deal of interost towards the Ohifo etection, o 600 whiat the exprossion in that Biate will be. TOWLE 2 HOPXL. Tha reporter next called upon Towle & Ro fl." J. W, Doauo & Co.), whiolessla grocers, No. Wabasn svenus. . Yuwly, in snswor to the writer's inquiries, sald the flrm were o favor of wuccis payments, ond of resumntion at as early's dny e would con- 10 tho hest intorestn of the country. Ho gu;dclnrx nplvmnn. excopt a y,;:l:;:rl‘ mintrnst could e classed ns an opuniou, with respec ' e P y ruspect to Kelley's MESSDS, BELZ & €., wholesale boota aud suscs, No. 219 Madison straot, expreasod themmoives i favor f specio paymouts, on general principles. With regad to tho date of rosmmption, they thought it should be as oarly an it was powndlo o o it without Interferning _ with — business, Thsy thought Kelley's 3.65. projoct fuolish and iw- practicable, MR. 0. R, KEITH, of Kelth Dros,, wholerale liats aud caps, No. 250 Madison atreet, stated tho firm were opposed to inflstion, becatre they were deeirous of doing business on a sound baais, which 1t we4 almost itmposuible to do without rpecio paymenta. ‘They uelioved in & gradual resnmpsion, and, aato Kels loy's houds, objected to his thoory on geueral panciplos, MERSRS, YULLER * FULLER, wholesalo drugaiste, No. 24 Maiket stroet, ox~ iresscd themselves Jn favor of placing tha eircus ating medium on & par with that of oiper conutries. In their opiniou, the preliminary #te} » 1o that end should Lo taken immodiately, 1.OUD, BYITH & CO. Mr, Goorgs \W. Stoutenburg sud Dr. L. 1L Bmith, of the firm of Lord, m ta & Co., No, 83 Wabsali_avonue, were questioned with rogard to their sontiments on the rame Bubject. The former eakl tho firm was tn favor of ro- sumptlon, but that tho drug bummess probably wan uot 88 much influenced by the provent state of finaucial affuira as omo other trades. During the Lime minies gold titst went above par tho firm had probabiy madn mors money by ita fluc- tuatious than they would otherwiso bhave dune. Tho vatistious in1ta valno had ponorally been in thoir favor. " maid Mr. M., '‘we think vho conntry wanld bo much baiter off by » return to wposio pavmente, aud therefors we favor it notwithstauding our needs do not do- maud 1" R.—How would you waut s roturn brought sbout 7 1 think it should be effected gradunlir, arests would not be distnrbed. Thers ara & good many enterprisos whick owe their ex- istonco 1o tha preseut currency Hyatem, aud they would undorgo & kevero bLurde BUip uf thin thing waw done sl denly. But the couutrv is already gradually working intoat, snd I think it will be counvim- mated by the oxpiration of tha tima rat by Cone grexs, by degroes so aligtit that busnein will not be arrested, and will easdiy adupt uself to tho now order. R.—What pisu do you thick the Government might salely pursne ? Mr. 8,.—1t might jmsne bonds and purchinsn gold; ortho Tieasury notes might be brosight up ta par il tho Goverament would 1esue houdy to talte thom uo, and advertisod to tako them for dutios. It iv tho iact that they wouid pot pay duties which bnd cansod thoir dopreciation. It they can be made recelvablo for such a purpose I seo no_reason why they should not reach par. 'The National Iapke shiould gradually contract their cireulation nntil thev aro able to redozm iu treasury notes or gold, tho Government taking up tho noies by bonds, or redeeming them 1o goll. Dr. Bith, who in ths meatimo had como In, naid be sirongly in favor of toxumption, and down on any further inflation. Ile L uot want to ges suything dono to inter. foro with Congiess, and thought the country was very rapidly tonding towsrds resumption. Ho wanied tores gold wade 8 basin of buxtucss, and takon aut of tue hnuds of Kpoculators, who were responeivlo for its fluctnations. Tho greeubacks wera good, sustained an thoy ara by tha credit of tho country, buy they were depre- ciatod by speculotors, who worked upon the knowlodge thet tho Government could ot at prosent redeew theio. M. N RCITAACE, of the drug-houss of Vaudchaack, Btevenson & Rowd, was n strong anti-rag-movey man, aud wantod to ses n return to & #pecio basiy &+ Boon a8 1t could be judiciously effected. Lverybody out 0f debt wished to ses it. 11 was only thora 10 o very shaky condition who did not. Tho prosent amount of monoy ho thourht was aufli- cient to do buviness on, and 1t would be unsare to farther ntlate it. MB. C. X. BENDEUSON, af Meears, C. M. Hendereon & Co., ratd that though their business wus not spparently muoch allocted by the present state of tue currency, be would like, for the 1oterests of trade generaily, tosca s return to a subsiantial unchaugeabla bawie. lL;Do yon think it should bo roached by 1879 Mr. H.—Yes, I shiould think so. I have not thought enough of thu mstier to give you ooy opinion s to fiow it stiould bo dono.” It ina vus- atious question, aud vne not esily setsled, t,—What do You thiuk of iutlation # Ar. I —Thero 1s cuouza ooy, § thivk, o do tho present amount of busitiets. . ~la it £00 much 7 ‘ Mr. H.—Ithigiknot, A great many entor- prises are uow at a statel still, and money i» not emyployed by them. Ahaltoakes the bulk of tue currouty appear excessive, If all the factori and monufacturtng estallisbments of the conn try wero st work it would bo cailed 1mto 10 utsie tion, 1:.—Doca not the low rate of futerest indicata that it is too pleotiful ? Mr. lL—1 think not. The low rato, I be- lleve, is attributablo to tho causes I have just moutioned, or, 1u other words, tho lazk of ways for nvostmeut. € L. —~What do you think of Kelloy's 3.65 bond ? plan Mr. H.—1I bave ot examiuned it much, but 1 aw not eure that 1 donot hko it It luoks hike a 1eacouablo aud teasitlo tumg. 1 dou't know but 1t is worth tryiog. Ina dearth of oppurtu- uities to luvest money it would offer’ a’ ¢ood elisnco to oarn s littls intorest iuatead of gtauds fng still, MEBSRNS, M. D. WELLS & 0. were visited wext ov tho line of mareh, sud tho reporter waa referred for replios to bis interrog- atories to Mr, MeFarland. 3r. MoF.—Wa are uut at all affected by tha Ppresent utate of monov wiatters, but probally in a genersl nenwe it wonld Le better to resume ie payments, A greenback dullar fug wll the purposes of our trado 1n 8% good ua ¢ ld, R.—liut would vou not liku Lo sea 1t brought up to par with gold 7 M. MdcF.~Yos, that wonld be » good thing, sad the Uoverntent should Lo able to give a vaiue equal tu gold, HBut the gold basis is a Rood deul of a myth. If tho yoople waw thut the Covernment wad able to redoem in gold they would not waot gold, Like tho Dutchmeu at the savings bank, he wantod bis monoyif it wasu't theio ; if 1 was he didn't, K.—What do you thivk of the 3.05 bond sehems ¥ Mr. MoF.—1 tbink it Is a good thing. It opens a chance for iuvestisont whon chiances aco scarco. 1t tue pooplo bow had gold they woula tind the sama diffculty in investing 1t that shey do their grooubacks, Jlut with the 8.65 biud carried iuto offsct they could always bo realizing sowathiog fur theit wouoy. M. UL, W, KING was then called upon, sud the following cuuverestion took flsco: Alr. K,—No iotflauon for me. I want this country to contrul its presout ocurrensy and como to & gold Lasis sy fast a8 possible, It anonld do bilxinoss &a other enlighteusd natious dv who pay their dubls. 'The couutry 1s {ast ap- prosching & apecie Lssiv, All it wints is to be let alone, aud it will gradually work 1ute it We want uo fusther legialation, All wo waut is to Jes matters take there own course, T'he tend- ency s iu the right direotion, Wowilt be tn possession of & solid sscure tinsucial basis be- fore the hume kot for Congross b wrrived. 1 thik & wau wbo talks inilation s sn ass. don't #eo how & man oau tolerste such nonseuso. Iudation is & goud dval Like driuking whisky tho woro & maw drinks, the wore he wauts. Thu souwation is pleasaus st urat, but there cowos & day of judument. t,—Do you think the business-moo of Chicsgo geuorally fool as you do? Mr, R.—Yew, wir. All of thew not fu the baukraptoy courts, or about $o go thoro, are iu favor of resamplion, sud kst too, w8 S0OL B posdible, Wo saw antlation vnough 1 tho old times of wild-cat snd stump-tail curronoy. v pow weans somethivg on & Auzg-er sealo, Liat about Keileys 8,65 bonds? Ar. ‘Thoy are all bosb, s Lolluw delusion, sud asuare, Tue talk ab:ut thow sounds very vice, aud tho scheme looks lovely, but it means noihing. u.-fu thero a larger volume of currency uow than is nooded ? Mr, K.—Perbape thers is for quiet times, but I thivk not whou busiuesa i4 st 1ts bost, ‘There is pleuty of monoy, however, sud it is oasy to b if anybodv Las suytbiug to give fop it. uuiuens is good, aud I look upan the times now 3 the mout natursl aud vorwal tuas we huye NUMBER 361. mrs, Al legitimato husinoss and feas- ‘NTIACA Aro more prosporous than for time bofore, 7Thero 18 losa eckloes don; thero i not a0 much chance to siltoads whora thoy aro not nocded, and simmi. schomos, and things have eottlad down iulo a substautial, satinfactory condition. PITTO, Mr. Field, of Fiold, Leitor & Co., was nccostad by tho reparter juat aa ho was loaving for home. He Aoid very decidedty that the houso desirod no further iuflation, and that it thought a speody return to & spocio basia was the only auro road to the country's proapericy, Reul. Mordoch & Yisclier, and Bamuel Bliss & expressed thomsolves in favor of hard and araiust s further influx of rag-toy Aud most of tho partion Tntocvioned minted “that they mpoke tho general feoling Banong the taadew'thoy reprosent. e LEAQING CITIZENS. THL HON. O, It FARWELL. “Che firmof J. ¥, Farwell & Co,, wholessle dry gonds, was vimtid, Tho roporter wasie= coived by tho Hon, C. b, Farwell, who answered i+ querlen 1ikn a tiatestaay, Reporter~—I soald likn vonr viows on this {ne flation buriuess, Me. Facwell 2 : Mr. Parwell=Well, Lam sgainat any increass of greaubacks, but 1 baya na objection *to auch increass of National bunk notes as businens may require. 1 amn in favor of retiring 21,000,000 of greenbackn per month, which, L think, would 800N bring the currency on a sound basia, R.—What do you think of tho date fixed for the resumplicn of spocio payments ? Mr. I'—I wonld not fix any dato for resump- tion, Lut would gradually retire grecnbacka sa L have moutioned, until wuch t'me aa thoy were on par with gold. Vhen that time come ro- samption sould be effected without any detrie ment to tho debtor class, and without moy con- vulsion of Lusiness. T.—Iave you given Mr. Kelloy's plan any con- eideration ? Mr. I.—I bave. In mv opinion, Mr, Kelloy's achemo won'd incroase thorato of iuterost in- stend of lowering it, as ha contends, .—How do you srrivo at that conclusion ? Mr. F.—In this way: The Government of the Utited States, undor Kelloy's plan, wonld be- como the depository and borrower of all the idlo maoey. Banks of deposit in which tho fdle of lncalities is now maswed, nad upon i a large awount of busnoss i douo, under 3r. Kelley's seiriwe would have no doposits, bo- it cvery man having €50 or 100, instead of dupcuitivg it in the bauks, a8 now, would gotono of tiwra .05 boudw, und merchauts and manu- facatrars wauld lnve no ploes st which to bor- FOW IONCY Lo earry on their busioss. [t would re-tit in the abulition of banke of doposit, and make monoy dearer, for reopie who had money would be in great demnnd, awl highor ratos of ntorest would be & natural consequence, [ think tha method of retiremient I hava sugzeat ed 18 far mora preferable. In about threo years, . under that plan, there woull be no gold miutn, Peopla think that incuor 18 necensars is 1104 necoxsary at ali. Itis «inply o couveniont thing to do businesa with. v has 00 ouber use xcopt su oxclianga nar, GEN, J. D. WEDSTEE, (en, Webster. Collortor of Iutornal Revenus, was calied upou, and the following cunvoreation tonk place ¢ Repartor—Are you in favor of inflation, General ? Gen. Wobstor—No. eir, Iam not. 1.—Do vou coneider tho date set by law for reaumption of 8pecio paywonta & good oue ? Gon, W.=Ycw, sir; so far asthosubject can bo controllad by Law I do. 1i.—D)o you sprruse of the 3.65 bond plan ? en. W.—To n certain extent [ do. 1 have heen of ths opinionthat 1f the Governmont ! call in pome of its larger bouds and issns w#mall onew, it would bo an excellent thing for thu pourer clunses who have somo small eavings. slany people hiavo a distrust of eavings banks, and hoard thoir movey instenl of Jetting it draw Interort for them beeauso thoy fear to lusoit, I ik that if Londs of small devominations wero assued theso peoplo would_buy thew, even if thoy bors 1o wore than 3,65 per cont ' intersst. bevanes of tueir perfoct security. This would undoabtedly buee the Savings Banks somewhat, but I beliove it to ho tho best policy of 8 gove ernmeut to ot its bends or lts debt into “the hauds of a8 many of the pouploas possiblo—that is, 0f cowisw, Without incrossiug the debt for that purpose, COMMISSIONER HOFNE, Noxt door the reporior found Commissionar 1oyne, uhd to Lita ho put tuo same questions wearly, and rozoived thoss Atsiwers Keporter—are you in favor of wflation, Mr. uyns ? i s, IL—No, &ir, pro- it.—Aro you ratisfled with tho poriod sot by law for rosumption ? Mr, If.—Yes. Ithink it is far coough awav. It.—Have son auy opinion about Mr. Keiloy's .65 bond plan ? Sr. IL—I can't say that T know muach about 1t I wan an ofd Juckaon Domacrat and of conrsa a hard-money mau, At tho samo time [ should! hardiy 1iko 20 oo the ailyeritxe!f used as owrens! ¢y, ltus too heavy sud unbandy. THE HON. J. D, WARD, District Attornoy, was writing somo sort of legal document when the reporter walked into his aflico, and the conversation was short, viz. : It.—Are you in favor of intlation, Mr. Ward? Mr. W. (with groat scorn)—Humph. R.—Wuat do I understand you to way? W.—No, sir; of courso uot. .—Woll, what do you thunk of the dato fixed tor resumption ? Mr, W.—~That makes no differenco ono way or tho othier. 1 do not think that we shall resama hour sooner on Account of any law. Huch r8 canuot be governed by legislation. What do you think of the 0.63 Lond pro- Ject Mr. W.~Well, T didn't liko it when it was o Congress, 1 votud againet it ther, and 1 have acen 1O roAs0n to cliabgo 1Y mund sinco, ML MUKRY NELSON said ho was {n favor of immedinte resumptlon. He belioved in llorace tireoloy's thoory—the test thing to do about resumption is to resumo. Ho balioved that the United Statos Goverument should pay its Loaest devts the samo as private individuala, aod with tho same dicpatel. A for Fig-1r:m Kelley'n ideas relative to couvertible 3,656, ho thought ‘it wan all nonseuso. e had wover Lad ‘mwuch falth i My Kelloy's {‘huu«nphy. but the lato wxhibition made )y that “gontlumau lad convincod ulm ot the utter unsouuducss of tho Poineyivania stutosmau'® views. io wsn in for bard ocnsh without auy compromise, MU WRIGHT, Tho viowaof Mr. A. M. Wright were almoat ideutical with those expreased by Mr, Nelion, Ilo wantod epe pymonts resumed befors 1879, aud thought Kelley's “* couvertiblo ” schema A chimera, e g TIIE BLACK RILLS, Prof, Jenuey Tells About Qs Gold Discoverios, Wasiuixarox, D. C, Aug, 19.—~Prof. Jenney, in & luster to tuo ludisn Buresa dated ** Black Hillg, July 8," eays * I found gold in placer depouita on both 5pring and Rapid Croeks, frome flioir headwaters to a polnt whore thoy omerge frow tho Lills, sud moro extended prospecting sud exploration shows thay in localities iu the valloys of thedo sireams, gravel bars, especially thives of the vlder formation and eloyated abovo tho presens lovel of the streams, contain gold in quantitics subicient to yield & fair remunerstion or labor economically and elilifully ape pied, swistod by the proper tools aud echanical appliances, & st lews s modersto awount of capital or its oquivalent, aod sucn system of workiog as the oxpenience of bweuty-Bve yoars hes taughi mivers of the Pacifio Sloyo to employ, Wiile thu valuable placer dopusits, su ‘far as discover- ©d, are by 0o meavs sich or vory exteusive, 6Im- pated with shose of Califoruis, still there is suough of the grecions metal to dovolop the coyuiry, and stock-ralsiog and agncuiturs will da the rest. In testing tue depomta on Bpring Crouk 1 wordod ouc & mnouhrlv rich 8pos where an old chauuol bas out soroes by the present bed at the creok, and 1 ten hours' work, with a satall sluice, ovtuived five-sixtus of an ounce of gold, or about $15.50. The soldiers had traviously panued out of the same place oot fega shan tao ounces of gold, sad, In messuring $ho wanouns ob giavel washed, 1 found that the tota) yield waa at tho rate of $4 per cubic yard, ot about ¥ cents 10 tha pau a3 a0 Average for the whote thicknoss of doposit. 1t was truly sald of this regiou that Chers was fimd in tha very roots of tho grass; but 1t 1s uot tho gold of the gravel Lara of quarts lodjes; nob (o gold of the miner o the goolopiat.”