Chicago Daily Tribune Newspaper, August 28, 1875, Page 8

THE CHICAGO TRIBUNE: SATURDAY AUGUST 28, 1875.—~TWELVE PAGES. TENMS OF THE TRIBUNE- RATES OF AURECRIPTION (PATARLY. IX ADVANCE). Pestare Irepald nt thia Oce. ) a Parte of & year at ihe WaNTED—OnS active agent in each town and village. Bperal srrangements mads with auch, Spectmen coyles aent fres, To prevent delay and mistakes, ba aure and give Poat-OMee address in full, inclnding Btateand Connty. Remittances may be made eitler by draft, oxpress, Post-Office order, or In registered lntters, at our rigks TEZMB TO CITY STRECRIDANS, Dafly, deliversd, Bunday cxcepted, 223 cents per week, Dasly, delivered, Bunday inclhsded, 30 cent por wouk, Address THE TRIBUNE COMPANY, Corner Madison and Doarborn-ate,, Olileago, Til peSsisheE N MUSEMENTS, TO-DAY' MOVIORER'S THEATRE—Madison street, between D Biate, - Logmgenicut f Edwid Adams. “ Qlancarty," Afiernoon aud evening. ADELPHI THEATRE—Dearborn _sirect, _corner Montoa. * The Days of 76" Afternoon and evening. QITIQAGO THEATRE—Clark straet, botweon Ran- dolph and Lake, * Old Ileads and Youug Hearta,” Afternoon and evening, HOOLEY'S THEATIE—Randolph sireet, betwoon Clak and LaSallo. Evgagement of John Dillon, Afternoon. * The Lancashire Lass,” Evening, ** Paul Pry” end ' His Laat Logn.” TWRNTY-THIRD BTREET BALL GROUNDS— Cha{‘nxllanlll.lp gume between the Athletlo and Chicago Cigba, —— "SOCIETY MEETINGS. WM, I, WARRIN LODGE, No. 209, A. Msnd A. 3. =Beguiar communication this (Saturiliy) etenng st Orisulal Hall, u’nhs.g“‘i"fi" Busiiicss snd work on ‘the W, M, 15 33 Derons - Dy Gelet e DUNLOP, Bee, The Chicage Cribune, Saturday Mormng, August 28, 1873, WITH SUPPLEME Mosra W. Fieup, the mauager of the re- cont rag-moncy show in Dotroit, is the ex-M. C. of whom Cox spoko as the * Field clad in living green.” J. E. Mrurer, the ex-Gnuger whom the hired nssnssin of the Chicago Whisky Ring attompted to murder ono week ngo, is at tho Lomo of bis mother in Waterford, Pa. He is reriously woundod in tho left arm, but wil recover, Greenbacks at the Now York Gold Ex- change yestordny opened at 877, roso to 87§, fell to 87§, and at the close wero bought at 87]. The deprecintion was owing entiraly to rumors of an Anglo-Chinese war, aud, upon the contrndiction of the rumor, the fear of a rise in transotlantic values subsided, and the markot was inactive, Tho Spanish town of Seo d'Urgel, in the Province of Catalonia, which has been be- siegod by the Alphonsist army for n mouth or morg, has capitulated unconditionally, and the garrison has been removed to Puycerds as prisoners of war. The Bishop of Seo d'Urgel is included among the prisoners, The town containa about 3,000 inkabitants, and was strongly fortifled, Tho much-mooted consolidation of tho Western Union and Atlantio & Pacifio Tele- graph fines has at Iast come to pass, and the telegraph systom almost of the cntire conti- nent of North America is now gatherod into the control of & vast monopoly, with sn un- scrupulous money magnate as the ruling .power, The Western Union absorbs the rival corporation, tho terms of the transfer beinga + guaranteo of an annual dividend of 7 per cent upon o 25 per cent valuation of tho stock of the Atlantic & Pacific, or §2,000,000. Wo ropublish from our files a graphio de- -scription of the Bank of California, and es- pecially of Mr. RawstoN. It gives s history of the bank and of its management, its won~ 'derful achievemonts, and of the wide scope \of ita operations, It also contains an inter- esting doscription of the personal life, habits, ‘and profuno hospitality of Mr. Ravarox, the ,mnoager of tho ipstitution. When this letter ;wos written tho bank and its President waa in tho zenith of tholr prosperty, and, in view ‘of the failuro of the bank and the suicide of tho President, tho letter will have n freah and thrilling interost. The suigide of Rarstoy, the President of the Bunk of Californin, after a long and brillinat carcor as the financial dictator on the Pacific Const, will rocall to the mind the caso of Mr. Mznore, the London banker, dzzur:flbnd in **Littlo Dorrit,” who, after run. ning a remarkably succossful life, becamo o bankrupt and committed sulcide. Tho fol- lowing deseription given of him covers that of RarstoN: \ / Mr, MznoLe wis immensoly rich ; a man of pro- @igious enlerprise; » Mivar without the ears, who tarned all be toucked nta gold, He was in averything R0od, fron: banking to buliding, Ia was in the city mecesssrily, Mo wia Clalrman of this, Trustes of that, Proddent of tho other, i Br. Rursron filled this description, and more. I8 suiclde, however, proved his cowardice. Ho was unable to faco the dis- sster that had oveortaken him, Il did not " dare to stop down from his eminancs to com. | parative poverty and loss of power, He wns :bmvo and daring enough in prosperity, but wenk in the face of disastor, e sbandoned his friends and associates, leaving to them _the tax of meoting his numerous victims, {and nought peace and safety in suicido and " daath, 1le was o native of Georgetown, Mnss,, ' and for tome timo served ns a pilot on tho Missigsippi River bonta. o led an adven. - turonw and somewhot rocklesa lifo, such as was common in thoso days. IHe finally i reached Cnlifornia, where, after a sorles of speculations and succosses, ho became o man of wealth, Though a somowhat rude and rotigh man, he was an admirabla entertainer, Bo remarkable was he in this rospect that for Yt:ans the bauk placed at hia disposal $25,000 @ yeor to be exponded in the entertsinmont “of strangers. He was prompt and skillful in all his operutions ; was capable of transaot. ing an iminen se amount of business, but was veckless in thie extreme. t Tho Chicago produce marketa were gen- enlly easler yesterdsy, some being quite weak. Iif¢es pork was active and 4%e per brl lower, cloning at $10.90 cash, and &20,00 for October. Lard was active and 25 per 100 s lowor, closing at 312,00 cash, and $13.00 for Octio'ver,, Meats were in light request and easier, at 8¢ for shoulders, 11jc for short £iby, 1wi 11§@12%0 for short clears. ligh. winer ‘wore quivt aud stesdy, at $1.12) per gslon, Lake freighte were in bettor demand aud urichanged ; quoted at 20 for corn to Buffal), Flour was quiet and weak, Wheat Was .oderately sotive, and Jc lower, closlog ;o0 §L15] cash snd §L18} for Beptamber. Corn was more active, and 1c lower, closing 8 6430 cash, and GG for September. Onta were unisettied aud engier, closing at 40c cash, and 35je for Septomber. Rye was quiot and steady, at 82@#lc. Bnrley was quiet and atrong, at 21, id for Septomber. Jogs werein good demand, and ruled firmer, Sales principally at 87,40@7.85. Cattlo were quict and nuchanged. Sheep were steady at $8.00 @4.75. One hundred dollars in gold would buy $114.12} in greenbacks at the close, THE SAN FRANCISCO PANIC ABATING, The nows from Ban Francisco Iast night showed n better fecling, Two banks closed their doors in order {o enable them to con. vert their bullion and other property into coin, It scems that considernbla coin has been sent East and sold, producing n searcity, and this scarcity tended to precipitate the dis. nster. At tho closo of business there scomed to bano doubt that the bank failures wonld bo confined to the Bank of California. Even of that institution it was claimed thot the nskels wonld pay depositors in full, leaving the loss to be covered by thoe enpital, The baks with British associations seom to havo all been able to mect ue storm. The savings banks by n resort to requirement of notice weroable to avert a run, thereby gaining tine to convert their securitics into cash, On tho 8d of June last there wero two Na~ tional Banks in San Francisco, having on de- posit and in circulation $5,382,704, and had on hand in specie £1,106,491. Tho circula- tion was not very large. These banks had their money invested in loaus and in gold paper, but exactly to what extent in each we cannot sny, They aro roported ssin good condition and will resumo as soon as they ean get the coin, P ‘The failure of the Bank of California has caused no serions disturbanco of the market in New York, and no losses aro apprehended there. ‘Tho calamity scems to be a local one, confined to the States on the Pacifio Const. Thero the calamity promises to be disns- trous. It will destroy tho value of all faucy mining stocks, and probably close all the mines thot are unprofitable. This will involvo the loss of many millions of private capital invested in these stocks, In Cali- fornin everybody dealt in stocks, tho newsboy and tho nursemaid ns well as tho laborer, merchant, and capitalist, and these will lose all they hiave put in mining stocks, THE BANR OF CALIFORKIA, The collapse of the Bank of California has produced o sensation excceding that caused by the fnilure of Duxcaw, Suenuay & Co, o month ago. "The Bank of California wns a private bank, chartered by the State of Cali- fornia, and igsued no notes. It had a capital of £5,000,000, and deposits +arying from £7,000,000 to £9,000,000. The deposits may Liave been reduced within the last sixty days, a8 the bonk has had persistent and unrelent- ing encmics, who hava been actively engaged for some time in weakening its credit and seeking its overthrow. The credit of the baok was openly attacked in the local papers within a week before its failure, The failure of this bank is another, tho Iatest, nnd n costly verifieation of the rule that no bank can engago in speculation, or in nny othor business than that of strict and legitimate banking, withont certain failure. The Bank of California is but a repetition of the cases of Jax Cooxe & Co,, Hexny CrEws, Dunoax, Suerstay & Co., and B, F. Aness. Precisoly the same canses in each caso have produced precisely the same results, Tho Bank of California has been identified with the history of the Stato. It was found- od by hard-working, skillful men, who wero Lkeenly alive to the prospect opened before them. It was originally organized to securo the business of the mines. Whoraver gold was discovered, a mine oponed, and s sottlo- ment made, the bank instantly had an agency there, thereby securing its business and do- pouits, In timo, the mining distriots of California were studded with tho ogencies of the Bank of Californin gathering up tho treasure and making the bank tho great factor of the peo- ple. It at once closely identified itsolf with the transportation companies all through the taste could suggest or money obtain. Rar~ #ToN's plnce was luzurious in the extreme. It was some gventy miles from Enn Francisco. ‘The houso was large enough to accommodate 200 guests, giving each party a room, with sorvants equal to tho occasion. The howpi- tality was profuse. Al strangers from Europe, and from all parts of the country, were songht ont and mnde recipients of his gorgeous hospitality, o laft San Francisco every afternoon after the close of business with ten, twenty, or more guests, and, with a coach drawn by four horses driven by himself over a hard, rmooth road built for the purpose, ho way ablo, by relays of horses, 1o mako the dis- tanco in the same time with the railroad. Other conches followed, according to the number of visitors, This house was always Btate, and all wero contributing to the busi- ness of tho bank. The institution was pros- perous from the beginning, 1ts owners be- camo rich, and thoir mbition found now and other flelds for operation. It grasped con- trol of tho commerce of the Pacific Const. It secured a monopoly of the quicksilver pro- duction, It entored into the businoss of buying mining stocks, and played bell or boear, a8 circumstances demanded, It ox- tended its operstions to Oregon, British Co- lumbia, and oven grasped the control of the fur trade in Alaska. It erectod itself into s financial dospot. It controlled the grain market ; it dictated to all tho other banks; it rogulated tho rates of discount and the terms on ‘which loans were made. It arushed merchants and bankers remorsolessly, It, in one way or the other, controlled the trade with Japsn and China, and the Importa- tion of toas, Tho whole coast trado and that with the Bandwich Tulands wes under its command, It wis universally foarsd and hated, but it defied all opposition, Ita busi. ness with England was immenso, and it had also large trausnctions with France, It made he forcign exchangs for California snd all the Pacifio Btates, snd for tho Bandwich Tslandy, nod for the Jopan and China trado done through San Franclsco, It had cors respondents and financial ngenta inall coun. tricd. Itincluded inits oporations Nevada, over which it exereised aa great a control as ovor Culifornin. 1t put up tho price of stocks and lowored them at plensuro; it bought and sold greenbncks; it dealt in all manuer of dupreciated and uncurrent socurities, It went heavily into railrond construction, In fact, there wos no branch of business in which tho bank did not engago, It employed on army of subordinates. It made meu rich, or ruined them, ot will. Tt ombarked exten. sively in politica, and recontly it organized a party of its own, and nominated an entirely now tickot of its own aelaction, My, Ravstox was ab the head of the com. pany which owns tho wator supply of the City of 8an Fraucisco; his assoclates wero in tho bank, and the money invested was that of the bank. 1o has been trying for some time to sell the franchise aud the whole property to the aity for the sum of $10,000,~ 000, Of conrse, the propristors became im- mensely rich. Rarston, the President, lived in a style equaled by fow Princes in Europe, I'he Bay of Ban Francisoo was lined with the cauntry seats of the finanolal nabobs, These country seats, or summer reaidouces, wers maguificuntly provided wits sveryllilng Uik thronged with guests, who were able to wit- ness during their stay o hospitality that was ns unbounded a8 it was megnificont and costly. Hundreds of pervons of this city have partaken of Rarston's gorgeous pro- fusenews. Mo was not, however, alonu in this matter. The other proprictors of tho bank, though not porhiaps so conspicuous, lived in almost an equally costly mnnner. As they bucame richer every year, so their families grew older and less contented with the mplendor around them, Conscquently they packed off to Europe, and for several years the wealth of the Bank of Californin has been represented in Europe by the fami- lies of its owners, and their lavish expendi- turos bave successfully rivaled those of the richest Princes of the Orient, Now comes the inevitable finale. bank bas gome to wreck. Iia expansions have wrought its ruin. It has long since censed to be a logitimate bauk, doing a legiti- mate business. It had become, ns was said of the now bankrupt Credit Mobilier of France, the *‘greatest gambling-house of the country.” It could by called n bonk only in & limited sense; it was a vast gambling es- tablishment, in which the proprietors used the vast means at their disposal to control the markets in all kinds of commercinl trans. actions, and to so manipulate mining stocks 08 to enrich themselves by the min of others. ‘The capital and menna of 'the bank have un- unquestionably been largoly weakened by re- cent losses ou stocks, Other mining organ- izntions have rocently become immensely profitable, and between these and the Bank of Californin a bitter warfare has existed. All the onemics the bank hns mnde have upited their forces, and, finding it crippled and embarrassed by its extended speculn- tions, wild schomes, and unavailable invest- ments, hava brought it to suspension and failuro, Californin had no panie in 1873, Tt escaped thon, to suffor in 1875 the collapse of this gront corporation, which in many things was amonopoly. This bank, like the old United States Bank, had aimed to be a regulator and dictator in financial matters, and had made itsolf a gront evil, Lolding the money of the peaple eventually to rob and ruin them. The linbilities of tho bank must be large, and its assats, like those of all speculativa con- cerns, valueless to a largo extent. Whntover the outcome of tho bank, the failuro will be a serious disaster to the productions and com- 1erco of Californis. The ‘WAB IT GOLD THAT DID IT? ¢ Alin,” how! the Democrats and the shin. plaster-inflation organs, ¢ thero you gu; your specio-basis has proved a delusion and o soars; the banking in that Stato is done on specia; the Bank of California was o gold bank, and it hag® collapsed; nll the other banks in California are gold bonks, and thoy are tottering. 8o, you see, it will not do to talk about a return to specie-psyment. It will bo fatal. The banks can't stand it."” This is the sort of stupid stall which wo will be forced to listen to ns one of the copse- quences of the recont failure in San Fran- cisco, It can only appeal to the most abject ignorance; but unfortunately there is so much of this that it will not fail to muke mora or less impression. ‘The conclusion of tho thoughtleas will be: *Well, if banks fail on & specio basis, we don't seo that wo are avy worse off with groenbacks,” Of conrso the failuro of the Bank of Cali- fornia hos nothing whatever to do with the greenback and specle question. Banks failed before greenbacks were invented, nnd we fonr will continue to fail long after green- backs sball have disappearod and been for- gotten. Wherever the practices of illegiti- mate banking prevail, there will be bank failures, Wherever bankors use the monoy of their dopositors for speculative purposes, disaster will onsue sooner or later, whether those doposits are in gold or in greenbncks, “There i no question in the case of the Bank of Californin s to tho redemnption of notes of insue, because it had no notes of issue, If there had been outatanding bank-notes, and the bank hind been forced to close its doors on account of ita inability to redeem them in gold, the gold and greenbuck quostion might possibly have beon lugged in; but thls cuts no figure whatever. Hod the Bank of Colifornia been engaged in groenback banking, the collapse might perhape have come Boonmer, because it would have boen exposed to the varintions and vacillations that have affected the rest of the country ; but it would have had no cspe- cial effect on the general result of investing illegitimataly the capital and deposits of a bank, The best answer (hat can be made to tho general assertion which is suro to be mado by tho shinplaster inflationists, that tho Bank of California falled bacause it was trying to do business on a spocio basle, Is simply this: It ‘was not specie, but the lack'of specio, that swamped the Bank of California. It made a pretense of doing a banking business on a upeoio basis, Lut tho result has demonstrated that it had no specie, It hadn't even green- backs, It Liad no muney of any kind., ‘I'int i the renson why it was forced to closo its doors, The Baukof California’hadn gold capltal of §5,000,000. Upon this it probably erocted, with tho help of its deposits, an in. verted pyramid of $20,000,000 at least, Then it proceeded to put out ity monuy into all sorta of enterprises and speculations, and carried ita particular “crowd" to nuy extent the “orowd” exacted. A fow weuks ago there began to be whispers that the **crowd” were short of money, and the speculatious had turned out badly. ‘fhis went on till one day the depositors took 1t in their heads’to ask for their monoy. Then it cawo out that tho Bunk of California had ouly $1,400,000 of gold In it vaults 0s a foundation for the in. vorted pyramid of $20,000,000. In porfect accordance with the laws of Nature, the pyra- mid toppled over, and there was a general smashing of things 'round alout. The plain and direct snswer, thorefors, whenevor an inflationist alleges that tho bank fuiled Lo- cause of specie, is that, on the coutrwy, it falled beoausa it had not the specle which f¢ professed to have, which it ought to bhave Lisd, and whiok i8 would have bl 14 had been logitimately managed. It was not gold, | rors, but the sbsence of guld, that brought on this | ba last financial disastor. ———eeeme THE WISCONSIN POLITICAL OUTLOOK. Notwithstanding the tidal wave of last fall, about which we have lenrd so much, the Damocratic party does not seem to b a very happy family, Mutterings of discontent nro hoard in all directions. Cracks and rents are found in it as plentifully as in the City of Poking. Dissensions are cropping out in un- expected places. Tho currency question has wplit it like a wedgo in somo quarters, and the roforms which it professed to champion lnst foll havo raised various lively Lreezes. Ono of the livelicst of theso breczes is just now blowing in Wisconsin. Two yonrs ago, tho Domoeracy, in order to placate the Urangers, hoisted the banner of ilrond reform and united their forees to clect Mr, Tavror Governor, but the move- ment has not panned out well. Thedirt does not pay. The roform hns proved to be a re- trogression, and this revolution, contrary to the accepted axiom, has goue backwards. ‘The movement way led by selfish, blind, nud reckless demngogues, ond it has run tho Reforsn party into the ground. None of the great roforms which were heralded with such a flourish of trumpets have beon nccomplished. They have not secured the redaction of rates inthe railrond war which they promised. On the other hand, they bave sncceodod in stopping the building of new roads nceessary to dovelopthe resources of the State. Thoy hava prevented tho nee- essary increnso of facilities upon the ronds nlready built. They have hindered the build- ing of better depots and stations, the sub- stitution of steel rails for iron, nnd the stock- ing of the ronds and shops with improved machinery. They have thrown hundreds of men out of ewployment, and they have caused o general entting down of railrond ex- penditures all over the State. They havo denlt o serious blow {o the common carrying business of tho State, and this is the sole ont- come of this great wnr of reform upon tho railronds, iostituled two years sinco by the Domcerats sud Grangers. Tho Demoerats are now sntisfied that they have mnde a disastrons blunder. They clected ‘Tavzon to hnrass, and perseento, and break dowu the railronds, and he hes not been unfaithful in the performanco of the duty for which he was elected, but his perse. cution has broken them down iu the wrong way and the wrong direction, and the farm. ers and mechanics ara beginuing to feel it in thoir pockots, The result of all this is o re- action of common senso, and self-interest hng taken the place of reckless demngogory, Five prominent Democrats of Milwaukeo Lnve issued u protest to the * Democratic and Re- form Party of Wisconsin™ against his re- nomination, which is in striking contrast with tho fulsome adulation of two ycars ago. The protest says among other things: Itis moat enthusdastic frienda do not claim that hols competent to diacharge tho duties of the Executive offica without saslslance frow some one whola come petent ; but they tay ho s tha “card fo play™ 1o the e, 10 which tho peoplo sre to be fooled and choat. ed, aud that bo can eapocially secura the votca of la- Lorers and farmors, on the protenss that he fa *one of them," or, s his adwmirera say, that Lo 13 & rough, une couth, vumanuerly, and havd-handod farmer Limsel, nnd by the ad captundum aud cant that ko s the hone it #0ld Bics,” aud * Fariner Tarron,” and other meanlugloss sud foolleh catch.words, The farmors of this Btute, 33 a claas, wiil not be flattered by such caricature, aud will not rogard as thelr represeutitive 1u the Executivo oflice ona who has no othor clatm to thelr suflragos than bis want of wmanuers, There s not s achiool district §n this State that could not fur- nlsb as At candidato, snd thousands of farmers could Ve found who are Lis aupcriors in educatiou, charace ter, and In alt tho qualifications nocessary for tho of- tica. It Is truo that s owna a farm, nad fanorly tved 1pon it, but over stnco ha camo o State ho Las Leen nearly all ths tim7 fn oftice, and +,.te all tho time » persiatent stA professional omice-secker, and is skliled fuull the tricks of tho caucu polticlan ana the demagogne. 1lla friends pyate of his economy, but tho clalm fa not fouuded in truth, for he has per- aonally suved nothing to tho Blale, when tha saving waa elther just or Louorable, aud Lo has uever re- trenclied any expenditures of tho public moueys ex- cept In the employment und componsation of conmon Iaborers about the Capital whon hia retrouchment has been the most petty meanness, and his_odtentatious cconomy starvation wadea to the poor. o has naver faregone any possible chance of enhiancing and d awlng 4o full amount of his own allowances, 1o lays falve clsims to tho saving of money in the publis printing, when esory one kuows that o has hud nothing to do with it, sud If the public privting has cost less in the pust year than formerly, it 1a wholly on account of the Inw aud the very low Lid of the prusout contractor, 11in personal qualitios and characteriatics, as well xs 1is want of ability, disqusiify im for so oxalted n position. 1fe goos about complaiuug and bragging In the samo broath that certain onea are **trying to run Dim, but they cau't do It,' When & man without tho qualificstions mecessary holds so high an ofMice ss Qovernor, and {a alf the timo suspicions and afrald that some une will rin him, be will Lo sure to be run by somebody, I'his very swaeping abuse shows that thers i8 o dincontented clemoutin the Reform party which doesn't think as much of Tavron ns it did. He is mo longor a roprosontative wan, There is no moro political capital to bo made out of him, The orangoe las beon squeezed dry ; henco they contend it will be o blunder to put bim on the track again, be- causo hie will bo beaten, 'This protent, how- over, only represonts a part of the Reform party. 'The Governor has & certain follow- ing composed of politicians looking to him for favors, and Grangers who aro not yet cured of thoir folly on the railroad question, Thoy will unite und push him., Thus the Roform party is divided against itself, On tha other band, the Republicans have put o strong ticket in tho fleld, hoaded by a strong, sound, and sensible man, ropresenting o strong, sound, and sensible policy. 'Their ticket und plutform havoe united thetn ‘solidly, ond the euthusiasm which has been aroused all over the Stato ns convinced tho Demo. crats that tho tide has ebbed, and that their slliance with the Grangers has weakened and is goicg to pleces, They know that there is a sharp fight and a gront Republicarn victory ahead of them, and the prospect is not pleasing to tho Milwaukoe News, the Jauesville Demoorat, nnd the other organs. 'Fhey fecl that they aro whipped beforo tho game opens. The Rle- publicans are corrcspondingly exultant. The Btato is naturally Republican by o large ma- Jority, ‘I'ho discontented Republicans have had all they want of Democratio reform, "I'io temperance farco is played out, and the Germans aro returuing to their old affilia. tions, The Republicans have closed up their ranks, and will give ua ouce more one of thuir old-time victories this fall. The leading editorial in yosterdny's Staats. Zritung is a hoarty indorsement of ‘Fu Tain. UNE's views ou the jury system. We boliove int publio soutimont fs muck more favoralle to komo change in it than is generally sup- posed. The Fourth-of-July orator still soars in pralso of ** the palladium of our libertics,” but the sufferer from a biibed, or wtupid, or dlungrecivg jury is apt to think he cun take better care of his own liberties thau twelve [wotesssional jorors, ploked out of the near- wht grogshop and fotimutely soqualnted with $Le color of the othior man's monsy, can take for hiw. If unanimity bad been noquired ¢ Jndgow, £ B L o ju. ‘jury systom may bo necessary. ' our lognl principles would centuriea behind the times. One practical application of justico, thanks to tho Jury syatem, is about in that position now, When the lato Admiral Lanaan wna n Com- maodore, he once presided at a conrt-martial. Tho Judge-Advoeato read the letter of the Iaw, It wna evidont that it wasncose in which *tho lotter killeth,” *‘Is that the law ?" said Laxatan, Assured that it was, he broke out in the vehomont words: * Thon damn the law ; what we want ia justice!” The community wants the law administered 50 that justico may bo had. To do this, the destruction or esaential modification of: the AWOTHER LAMENT FROM BT. LOUIS, Chicngo is always the bete noir of the irri- table {nhabitants of 8t. Louis. They allow their passions to riso spasmodieally over our population, our business statistics, our bonk clearings, and every particular phaso of met- ropolitanism in which Chieago, by the acci~ dent of superior Jocation and by dint of gronter enorgy, has outstripped Bt, Louis, Just now they are lamenting because Chiongo distributes moil matter at the rato of ten tons for evory singlo ton distributed at 8t. Louis, This fnot being conceded, Bt. Louis is now engaged in o desperate effort to prove that it is the result of a deliberats discrimination of the Post-Office Depariment sgainst Bt. Louis nud in favor of Chiongo. The projeot for a fast mail train is made the special object of attnck; the St. Louis Republican charges that it hna boon proposed for the exclu- #ive bonefit of Now York and Chicago, and demands a chango of time and route that shall botter sccommodate the slower-going people of its seotion of tho country. All this is shoor nonscnse. The projoct of the fast mail traing was not conceived for the bonefit of either New York or Chicago, and certainly affords Chicago no partienlar ad. vantage, It is to leave New York at 4 o'clock in the morning, and, as the running time {s twenty-six hours, it will reach Chicago at ¢ o'clock in the morning. The grest bulk of tho mail which it brings from New York City to Chicago is prepared and doposited in the afternoon of the day bofore, lies over night in Now York City, and does not reach Chicago practically any onrlier than it would by the regular train which loaves at 8 o'clock of tha evoning before, If the train had boen de- signed especinlly for Now York and Chicngo, the train would naturally have beon started ot 12 o'clock noon, so that letters could be collected in New York on the morning of one day and distributed in Chicago on the after- noon qf the second day. But the purpose of the fast train has been mainly to gather in the mails from the New England States. There is o collection in Boston at midnight, and lute in the ovoning in all Now England cities, which reaches tha fast train, and is delivered in the West soveral hours earlior; this train is algo so timed as to take the mails of prominant commorcial citios like Brook- lyn, Byracuss, Bchnectady, Buffalo, Erie, Cloveland, nnd Tolodo, and insure an earlior delivery than ot present. The St. Lonis people likowise want the fast train transferred from the New York Contral to the Ponnsylvania Central Rond, because the latter shortens tho distance G2 miles to Chicago and 106 miles to St. Louis. But the fact is ignored that the greater distance can be made on the level roads running around tho lake shored in as ghort a timo ay the lesser dis- tance which is besct with heavy grades over the mountains, Tho chango would also cut off the very cities for whoso benefit tho train has boen established. It may be, however, that when tho St. Louis poople become con- vinced that the project is not one designed to bonefit Chicago, snd as o matter of fact does not deliver any lator mail hero from Now York than before, they will not insist upon chiangos that would defeat the purpose of the movement. THE FINANCIAL OUTLOOK, A great tinancial panic is like a vast con- flagrution, The crisis of 1873 has done for this country pretty much the sume work that the fire of 1871 did for the Oity of Chicago. The expanded credits of tho one mny be likoned to tho wooden shanties and inflam- mablo rookerics of the other ; the solid cap- ital to the brick, and stone, and iron build- ings. As the fire of 1871 in Chiongo swept away a hugo mass of incendiary buildings, s0 the panic of 1873 swept away & great lot -of worthless credits, The recovery in both casos ia a severe ordenl. A good many shan- tion escapod the fire of 1871 which are a con- stant monace to tho city, and some of tho bad credits and weak institutions aro left from the panio to topple over from tiwme to time. But na the chancos of a gouoral and disns. trous conflngration havo been considorably lessunod, indeed have bacomo oxesedingly ro- mote, by ronson of tho destruction of tho dangerous buildings and the substitution of nou-inflainmable structurcs, so the work of the panio throughout the country has ren. dored a repetition of tho panic almost im. pousible, « The ndvantage of this condition of things becomes apparent from time to time, on the occasion of fuilureu liko that of Doxoaw, Buenyax & Co,, in Now York, and the Bank of Californin, Though tho fall in each caso haa beon honvy, sudden, and unoxpeoted, it Lias not given the country anything like a shock, and it will not produce any serious re. sulta outside tho immediate circle of its de- pondencies, There Las boon a gradual snd steady sottloment throughout the country, and the ronotion has not yat sufficiently set in to be suddenly and violently checked by any mnotable failure, If there had beon & new oxpansion of crodits, if confidence lad been fally re- stored, if banks were loaning their money o4 freely as before, and spoculation wore ay vifo s it was previous to the crisls of the fall of 1873, thon a collapso like that of California might have startled even those communities not directly nssoclated with ita fortuncs, As it {s, the affair is rogarded coolly by the country at large, and oven the quick succes. slon of the California failurcs upou that of Duxoay, SuenaaN & Co, has not startled anybody. The salls are overywhere trimmed for closo sailing, and everybody is so near shoro as to foel confident of safuty, There will unguestionably be occasional and independent failures, and among theso it is not unlikely that the baunks will furnish & full proportion; but they will cause no more disturbance than, probably not so much as, tho suspension of Duxoan, Bursman & Co. snd thd Bank of California, so far as goneral business Is concerned. ‘The bulk of tho losses resulting from tho panlo have boen settlod in oue wiy or another. Bome of the sufferers have gons into bankruptey ; others huwo compromised their indeblodacss ; olicrs | have been abls to poy in tall. But tuo o] bunks everywhere bave bulanced their buuky Dby this time, have fully asowrtained the worth. Joms dsbts and oliarged thend up to prods and loss, and have beon doing a more conforv- ativo business, There may Lo some banks atill corrying worthless papor as among their assets, and are roally doing businers undor falio pretenses, Theso inatitutions will prob. ably have to go under na Duncax, SiERMAN & Co. snd the Bauk of Califoruia have gono undor ; but such failures will bo {solated and unproductive of any goneral disturbances. There in no nood of approhension, for thers in no condition in the country that admits of n panio, THRE FRENCH ARMY, The Prusaian Staf Office in probably the onty bureau in tha world which kuaws all about tho procoss of reorganizing tho French army., Francoe hns very littlo idon of it. The pnpors of that country are not nowspapors. Publishing nows is too dangorous in n land of consorship snd fines. If wa may judge from an {nteresting articla in tha last nutber of IHlackwood, the nuthor of which professos to have learned his faots by personal inspection and inquiry, tho men in charge of the task of reorganizing the Frouch army do not know ‘what they, are nbout, and are only s littlo loss ignorant of the real needs of the forco than Narorgo¥ was when he loft Paris for the Rhino—and Sedan. The direction of the army is in incapable linnds,—thoso of Gen. pe Cisszy, nbrave soldior, but an incapableoxocntive. Ho is the slave of the bureaux, A short time sgo, ho called for raports on patterna of infantry phoes. Outof 160 roports, 140 condomued the presont shoe, The matter was thon ro. ferred to the ** Buporior Committes of In. fantry,” which consists of seven elderly Gon- ernlg, noat fossils bound up in red tape. They unanimously decided that the old shoe should atill bo used, aud Gon. px Oissex confirmed their decision. Tho only hops of really im. proving the army lics in the adoption of the now notions of the young men, but these ** have not much chanco of realization while the mnstory of the army conlinues in the lands of elderly goutlemon of this habit of wmind," Tho organization of the army is also inn bad woy, The reserves called for by the law do not exist aven on paper, much less in tlash and blood. Tho i des cadres, much praised ot the tume of its passage, really strips the army, according to this writer, of 120,000 mon, Io reckons tho offective strength of the forco at only 260,000, though tho nation is being taxed to supply the pay and rations of 425,000 * effoctives,” The explanation of this is to be found in a peculiar featnro of Fronch fluance, which haa & name of ite own,—virements. It ia the practice of taking sums voted for one purpose and using them for another, Thus, whon the wooden huts putup threo years ngo for the troops quar- tered around Paris cost twico the sum appropriated for them, the monoy wos got by sonding s great mumber of soldiers home and taking what wounld have been the cost of their support if they had been where the nation innocontly supposed thom to be, The stool cannon provided for the artillery are fow, and nine.tonths of the troops are ormed with old-style rifies. The new in- trenched froptier on the east is sald to be “ vory nearly as sirong a8 that whioh waalost four yoara ngo.” This is not a flattering roview. Armies cannot bo created or reorganized in o day, but Fronce has had four yeara of quiet for the work. The conclusion of the whele matter, according to the Pall-Mall, is the retirement of px Cwssry. **The work needs a younger man, a more imporious man, & man with some sharo of croative genius, a man who is stopped by no obatacles and shrinka from no nocossary reforms, however stringent and however sweoping.” Another Narouzox I, would about fill the bill. It does not follow, however, that Naroreoy IV, would, A special dispatch from Springfleld to the 8t, Louia Republican says : The relatives of Mrs, LrwcoLx hors are greatly an- noyed by tho lats obtrusion of hor name In print snd by the insfnuations mado that she {s detained in the Batavis Hospital unnscessarlly. For some time after lier aarival at the hospltal her prospecs for Yecovery wad very good, and it was Boped ber hoalth would be permanently rostorsd. It ts kuown that s bellef in 8piritunllsm was one form of bar moutal disorder, and visit mado her by a Oblaago Iady who professea that bellef has caused & recurronce of the moat dlstressiug aymploms. Hor relations hera regret thelacs unpleas- ~H¢ 0% povo, but ¢ s impostiLle £0 pravout such Ane noysnces na long ss the publication of sensational newspapers 1a & paylng one, Tho comment of the above dispatch isa timely one, and lacks only in severity, Tho scandal was set nfloat by over-officious and intermeddling mischief-makors, who inter- fored in a matter which did not concorn them, for purposes of sensation. The pro- tenso mode by them that she is sane and con- fined in the asylum against her will, is an atrocions libel upon hor son and friends, If she wero really sane, they would be the first to know it, and remove her at once, and no ono would rojoico moroe than they to find that this uofortunste lady had been restored to hoalth in body sud mind, Thero is no scan- dal in this case, except so far as the inter. moddling scandalizers themaelves are con- cornod. Inasmuch as there are plenty of other objocts upon which they oan exerclss their slop-over philanthropy and maudlin sentimentalizing, it is inconceivablo why they have choson Mrs, Lincowx for the exercise of their talonts in this direction, except that it affords them an opportunity to wound the foclinga of hor friends, and to Libal them atro- clously beaides. Qur anceastors of ;odly Now Eugland thought lotteries porfectly consistent with piety, The Presbyterian meoting-house at Norsich, Conn.y baving been destroyed by fire, the Legielature of that Btate in 1801 granted the Soclety s los- tary to rebuild the ssme, Four thousand elght hundred tickets wore nold at 2 each, with prizos from ¢4 to §500; and 4,800 as @Y esch, wilh prizes from 84 to 8500, The adverusement In tho Commercial Courant of Haxtford, of Ot ks e 4 the schema toadvance o ¢ e PULICeS 10 g 50 Steatich Lo of o e veuturer and thuss who, from princlyies of duty and beuevolence, are disposed to coniritute to Ao boat Interurte f soclety, while the forwer has » fair Lope of incresslug his miouey Irom the unisual uumber of high prises, snd the mu.tiplication of clisucos {u bia favor, The latter will possess an excel lout oucaalon Lo dlspense their ald fo a work lucalouls. Uily wweful to & Oiristian commuuity, 1t requires some chbarity to think well of & Clristian commuuity to nhioh & lottery osn bs « mealculsbly uveful, —_— The Brooklyn Riug Lias becoms a byword and a bismug smoug Louest men, bul tha foll ex- tout of ita dopravity w seldom vealized. Paople aro too apt to thiuk that corrupt politicians, at the worat, are only thleves. Iudesd, in the days of Twxep It wsa oustomary to asscciate the idea of jollity with all the operations of the Llog, They wero such clover rogues, we thought, Thay stole with such dextenty aud abandon They bad such big, burstivg heasts, promptiug tuow to deeds of charily, They were siwaya ready to ‘relieve the poor. They sent aid to Chirago fn her groat exiremity. Takeibomal} 3 ull, (lioy word pot bad fellows. Buoh was the u whick prevailod to & large sstens & fow yeais ago, wbon the enorwitios of Riug rule were not fully sppreciated, Hut the psople have loarusd better nioos then, They know now liad £ D S e oorruption at the Lead of a City Government canoot long continue as & local disoass. Iy will infallibly eztend throughout the munici. pslaystom, It will engendor care's.snoss ang inofficiency a8 well ia the managoment of clty charitien as in the disburasment of elty fundy, It wiil bratalize and degrade whatevor it tonchey, These home trutha havo baen fresuly enforead by recent revalations in tho Tinga Couuty (¥, Y.) Hospitsl, Brooklyn is still rulod by s Ring, The City Government i# roticn fram one end ty the other, the local oharitios not excoptel. Iiiy now cliargod that tho patlents f tho hom; g hiave boon subjected to tho most outeageouy troatment. Bick womon havo boen besten; children havs boon tortured ; propor attendanoy has besu rofused ; and the numIs—who ary women~have rogaled the warda withh duly ex. libitions of deunkeunoss, lowdnoss, and pro. fanity. Thin stato of affairs is ss ciroctly chargy. able to the Bravklyn City sud County Mg asiy tho onormous dobt which has sccumulated uy. der {te ausplcos durin g tho past fow years, —_— Thers iu no doubt that tha Times would have publisbed » **special diepatch " fiom Califor. nis, if it could Lave got ono. B0 would any papor, The Times id the best it could by re. writing the Aswociated Pross diepatch in thy oflice, weaving in as much loonl and imaginary neident ae posaible, and calling the nuxturs a ‘*special,” It unfortunstely botrayed itselr by raforiiug to Mits ws Presldent, Rarston ag Canbter, sud Senators 8aauoN and JONES a8 Dj. rectors, whereas RarsTon 18 Presldent and Brnowx Cashier, Mm.Ls having vacated the ofiicg loug ago, snd BilazoN aud JoNEs never werq connected with the bank, The **apecial” way evidently writien by nomabody who bud been fy tan Franclsoo at one ime, but not 8> rovently 89 to bave learned of the chrago of sdmivlsira. tion lo the baok, which ccourred yoars ago. —_— And now it appears that the ontrageous ae sault of Col. VaLeNTINE DigpRr upon Ltao voung lady in tha English rallroad car, for which ho a; beon punislied by the courta and dismissad £:0m the armv, is not his first offenas in this direction, The Ceylon Observer tutimatos that soma yoars g0, when a subaltorn in a Ooylon rifle roziment, Lie waa convictod of kn offeuso of a nimilar char. acter, sud would have boon !mprisoned hai i¢ not boen for the romisaion of tho sentence by the Govornor upon the intorcession of Sir Cotty OaMppELL, on the ground thab itis ““#ie way thov tave in the nrmy.” It nuw apponrs that he must bave been a proforsional rous—a fact which will go far to couflrnl the justice of the English Oourt in administoring whae sacmed to soma a severs punlshmont. ——— A London paper discusses the question whether tho youth of the prosent day has or has not degenorated 1o ita s;orts, It 18 true that the youth of to-day doos not go sbout ramming lances Into his bost frionds, nor is there s gathor. ing of bigh-trned young goutlomou to witnasy chickon-fights and prize-fights, Theeo **manly™ spoite have almost disappeared, DBut the num. beor of broken bones sunually resulting from base-ball and cricket, and the high ceteom in which our crack oarsmen aro hell, are emphiatia ovideoces that thero [a no degeneracy st present 1 the noblogt sports. Can Listory point to s feat ke Capt, Wxon'a? ————— One J. H, GrivriTn 18 recorded jn the Due buque Herald as Laving visit'd Anamosa, s, and made s deaporate *effort to stoal & horso and wagon there. To add to the crime ho passed Limsolf off a8 a reportor of Tue Cimcaco Tnin. oxR. Mr. GmIFFITH is not known to thia paper, We bsve no reporters given to stealiog, either Liorses. wagons, or other movables, Young men thus employed should bo arrested at ouco, and intolligent pordons will at onco sos that thelr claims to connection with this pper are fraudus leus, as fa that of 4. H. Grirriru. —_— Two womon bavo boen traveling through Towa selling coipots at unusuaily low prices. - Indeed, thoir anzietv to give ladies a porteot i, and the fosignificant raward ther mskel for their mer- vices, oxcitod suspiclon, Now not a lady in Jora will admit that sbe ham bought cotacta in six months, while the two peddlers have resumed thelr male attire and ccoupy & dlsmal celt in jail, The man who spoke of tho Indians as s dving race should emigrate. In 1864 they ocost the country ©3,029,075.07; Taul year 9032,752.03 was required to mupport therm. Either the funeral axpendas aro ingonaslyably high or the oan erred. —— POLITICAL NOTEL' New parties are not fourisbing this year, whatover the gosaips may eay to the contrary, 1t In & bad sesson for fnfauts. Ask the doctors if this 18 por the truth. Baunke knows it, snd Kolley, too, ‘The Baltimore papars, tao, are down on Pote tor because, s8 thev allogo, be haa located (ho site of the new Post-Office building in that city * to the unanimous disaatistaction of everybody concerned.” Nothing will appease the Cincinnatl Enquirer, If truokling snd double-dealing could avall suy thing, SBenntor Thurman would be sate trum its attacke; but the Knguirer saya that Thurman, Pugh, Judge Rauney, Durbiu Ward, R, . Payne, sud Willam 8. Geroeabook *all represont tha Money Power.” Tha Kellogg census {n Louisisns ahows that tho nearoes outoumber the whites In thab Btato by 46,000. Tue Blreveport Times, which 19 not good sathority in matters of this kind, says tbe census s *‘m miserablo fraud,” and that it will make no differenco 1n 1876 ualeas the ballot box wtuffers are uncommonly lvely. Ons of tho proprietors of the Oharleston News and Courfer recently talked over the Balomon bank faiture and other mattora of local interest with Gov. Chemberlain, The gist of tbe aone versation has baen published, and the Aews and Courder ssya that, after18sding the Uovernor's statement, nobody osn doubt but Lie will be true to tho end, Mr, A, O, Heslog has been making himesif conspicuous st Baratogs Bpriogs, * Qath* re- porta a heavy discusslon between Mr. Heslug and Vice-President Wilson, in which the formor denounced Orville Grant pretty roundly, and wound up by declariug himselt an uuequivoesl Tilden man, Mr, Hesiog asserts that Tildeo Is the choice of the German Democracy all ovar the couutry. At a grand Demooratio barbecue fn Hinde County, Misaissippl, last week, 5,000 peojle wore present, including some 500 negroes, The procsedings coucluded with the trial of Gaov. Ames, who was pressu: In olfigy, for treasod, murder, snd other Ligh crimes, rdlos of guilty peing found and sentence ath fme posod, commuted subsequently to banlshmsut to Muassachusetis, Charles Nordhott's last letter from North Oar olina brings the gratifylng iuformation that thore {s a atrong hru-amreuq‘-lemnt o the Demooratio party thereabouts. e belleves that the pravailing wentiment of tlse Bouthern De- mocracy is in favor of apecie psyments, Dub the aeleotlon of moft-money man to sucosed Audrew Jobnson ss Saoator from Teunsssed doea ot Jibe with this view. Is Gov. Hendricks alttle joker, atter all? The poopls of Obio would really like to know. ‘The Clevelsnd Puindsaler says they mev wand - to sopport tilm for Preaident next year, and they wouald like to sas the light of his countenanva But, sa Mr. Halstead is foud of sayiog, true lo- wardusss is the mala ¢hing thia summer; sud it the people of Oulo donot see that in Mn Hendnioks, the light of bis ountonance will do them littie good. An enthusisshio admirer of Oharles Francls Adsms promises to orgauize a small and selech band of Adams man fu svery connty of ‘Afassw obuvelts, aud carcy oo mpalgn for bim, with or without the coasens of the party mansgerse The plan would naduubisdly be the sarue as thd ons whish was w0 successfully pursusd n thé Touth Oougressional Distriss lead fall, resulllug i Ry