Chicago Daily Tribune Newspaper, August 31, 1875, Page 6

TIIE CHICAGO TRIBUN. SDAY, AUGUSYL 81, 1870, TERMS OF THE TRIBUNE. WATES OF STPRCIITTION (PATARLR TK ADYANCE). Postnge Propald at this OMee, .00 | Weekly, ) yous S1L00 e ehnor Ton sopl e 5 0] ™t Tarts of & year at the name rato, WaxzEn—Ona active agent in each town and village, Bpecial arrangemonts made with wach. Bpecimen coplen sent free, To pravent delay and mistakes, bo snro and give Pont-OMce addreas in fall, including Stateand County. Remittances may be mado either by draft, cxpress, Poat-Ofico order, or in repistornd fotiers, g our rlek, TERMS TO CITY AUDACRINERR, Dsily, deliverad, Kunday excopded, 25 ceuts por week, Datly, deliversd, Bunday incliuded, 30 cents yier woek, Address THE TRIBUNE COMPANY, Qorusr Madisan aud Dearborz-s ooy MUSEMENTS, TO-DAY MURIC—TTalated street, between o l(r-m\l::\ & Ware's Combing- ‘Madizon and Moures. tion, FOOLEY'S THEA’ ADELPHI THEATRE—Dearborn street, 8ld McRay." MoVICKER'S THEATRE~! Euoch Arden.”? CHICAGO 'THEATRE—Clark atreot, Lalween Ran-~ dolph and Lako, * Hleartsnnd Diamouds.” DURLINGTON 1IALT—Corncr State and Sixteenth wreets, Cha TacEvoy's * Hiibernicon’ SOCIETY MEETINGS. AGO HORTICULTURAL SOOIETY,—Regular ng‘l'l!fz will be leid st fhio Exporition Bullding: this (Tuesday) cvening i 7 p, m. Florists and all olbers Iy fnvited, Suterested are cordially in! L BURROUGS, See, The (’fbit’ag,u Tribune, Greenbacks, the two extremes of the day, Dr. Lispenyax, Director of the 3liat in San Francisco, having wade au examination of tha afiairs of tho National Gold nnd fustitution no interference by thy Comptroller of the Cnr- that and rvequiring Trust Bank, reporis in good coudition, rency. Various and conflicting nccounts are -given ns to {ho result of tho investigation of the Directors of the Iiank of California, but nothing definite or relinblo will probably be Lnown until the Directors have finished their Isbors and submitted their report. e s WirLiaat Wersu hag writton o fourth letter of peveral columns to Prof, O. C. Mansi aud tho public on the Indian question. It does not amount to much, If Mr. W. wishes to do any good, he must avoid writing in the engthy siylo of ALRXANDER STEPHENS, avoid woarisomo, moral reflections and exclana- tion-points, and fill his letters with substan. tial facts. IIo has a chence do do good work in exposing tho indubitable rasenlitics of the Indion Ring. Wa should be sorry to have him misuse the opportunity. A dispatch from Dublin states that tho Pope has conferred tho Grand Cross of the Order of St. Gregory on the Lord-Mayor of Dublin. 'This award of merit is significnnt whon the events of thorecent 0'Coxyert Cene teunial aro recalled. The Lord-Mayor of Dublin, it will bo romembered, is tho man who tried to turn tho Centennial into a relig- ious demonstration in the Interests of tho olergy, and to mako nu Ultramontane affair of it. For this renson, the Liberala nnd IHome- Rulerss provented him from speaking, and at the bnnquot ho turned off the g and pro- voked n row which summarily ended it. Tho prompt mouner in which the Popo has ro- wardod his servant shows that ho is moro than ordinarily displeased with the Liberals oud Iome-Rulery, ond, ns they ara not in n wmood to bo snubbed, wo may expoct to Lear them talk back to the Holy Father in o very vigorous and onergetic mauner. It is earncestly to be hoped that Mayor Cor- Vi will not excreise his powers of removal snd appointment to the extent of interforing with the practicl management of tho Chi- cago public schools. With all doference to his qualitientions in ofherrespects, it will not bo claimed that the Mayor is more competont than the Board of Education to dotorming what is best caleulated to promote tho in- terests of the schuals, in the conduet of whick party politics have hitherto hnd no part, The fact—evon if it wero known to be n fact—that the present Buporintendent of Schools is not a People’s Darty man should not out- weigh the all.important fact that gs o pructical educator ho rauks among the first in America, and that cleven years of fuithful, vilugble servico in his position in Chioago stond to Lis crodit. Such a publio scrvant hus no time for politics, and no politician could find timo for much servico, Tha Aluyor's regard for our common uchool sys. tom ought to, and wo believo will, overrule any fnclination Bo may have to removo the present Superintendent and fill his placo with an untried man, Latest advices indicate that the spirit of rebellion is on the incresso in the Turkish Turopean provinces, and that tho interven. tion of tho Great Powors must take a more decided shape than herotofore intemled, Northern Boania is now in full sympathy with the movement, and Servia hss taken sides with the insurgents, and is at tho samo timo endeavoring to incite tho DBulgariaus egainst tho common enemy. It is stated that 80,000 fugitives from tho Turkish prov- iuces Lave sought refugo on Austrian soil, theso persons being principally tho non. combatant portion of the insurgent commu- nities, whilo the fighting men Lave deserted their villages and retired to the hills for or- gauization, Monteuegroialiableat any hour to Le drawn into tho tide of war, 'The Servian wilitia aro preparing for active servico, and at Belgrado warlike preparatious aro netively going on, and the fortross, one of the atrong- st on the Austrian border, is bolug placed in sulate of defense, Every now dovelopment goes to confirm the belief that thero has been uconcerted plan on the partof the down. trodden prosincials, and in tho language of the Montenegrin official journal, oily-tongued diplomacy will be impotent to prevent the upreud of the roboliion. I'ho Chicago produce markets were irreg- ulnr yesterduy, Mess pork was active and ensior, closing at $20.80 cash, and $20,40 for October. Lard was in moderate demand, sud ruther weak, clasing at %1295 per 100 Ity oqeh, aud $18.10@13.12) for October. Meaty wewe quiet and firmer, at 84o for shoulders, 1236 tor short ribs, und 11} e for short clears, Highwines were jo lower, at $1.19 per gatlon, Lake treights were uctive aud steady, at 2o « Chicago, 1L, Tandoiph atreat, Letwoen . Engagemout of Ewerson's Cali- corner Monror, Engsgemont of Oliver Doud Byron. * Lone fadlson atreet, between Drarlorn and State. Eogsgemout of Edwin Adaus, at the New York Exchange yesterdoy, opened nt 87} and closed ab 873, for corn to Buffalo. Flonr was quiet and ensior, Wheat was netive, and averaged {@}o higher, but closed tamo at $1.17 ensh and &1.11] for September. Corn wna active, and lower, clnsing at #21a for Septembor, and ) for October, Onts woro nctive and ir. reguiar, closing at 8630 eash, and e for Sep- tember, Rye was quiet aud strong at 8i@ sne. Harley was dnll and ensier, closing at 291,08 for September. 1Togs wera in light supply, and ruled 5@10¢ higher, with the bulk of tho sales at $7.506@8.00. Cattlo wera dill and easy, except tho best, which wero firmy, Sheep wore unchanged, Ono hundred dollars in gold would buy $114.37} in green. backs at the close, B Not long ngo tho Bonrd of County Com- missioners adopted n resolution prohibiting tho use of wtono dressed by conviet labor in the new Court-llouse. This was done, ontensibly, to protect stone.cutters ngainst the compotition of prison Iabor, but. in point of fact, to cmty favor with tho trades- unions, Right on the heels of this expensive ond ill.ndviscd coucession to thoe stone- cutters, the Iatter proceed to demonstrate their gratituda and apprecintion of the favor by inaugurating a general striko for higher wages, the demand Dbeing for nu ndvance from $2.50 to 23 per duy, In many coses employers have paid 33 and moro to superior workman, but the Stone-Cutters' Union re- quires (hat the rata shinll bo uniform for slow aud fost oxtrs, or commonplace men, and that nono shall work for less than $3 per day. The employers will doubtless accede to tho demand so far as they are compelled to do so in order to fulfill contracts; while those who are more favorably situated will give work to those only who aro woxth the Union rale, and dischargo the rest; so that, in the long run, the stone-culters will recelve less money in the aggregate under the advanced than under {ho old rate of wages. This result will donht- less Lo assisted by tho abaudomment, on nc. connt of increased cost, of many building en- terprises which would otherwise have been pushed forward during the remainder of the builling senson, All these considerations, together with the fact that tho stone-cuttera at work will bo assessed to support those threwn ont of employment, point to the probnbility that the strike for igher wages will prova n lusing operation, THE PANIO IN CALTFORNIA : A CONTRAST, Catifornia 18 the great colu-producing State.g It hns stoady refused tonidopt tho grecutack standS¥, 1t Lian made gold a uniforn: meastre of values, Now wo #00 the result, Tt hos plenty of aeacts, { sayn, yot bo- cause of ita not baving & sufficlont quantity of coln to meot tho Habilties, it has Leen forced into bapke ruptey, This fu {ko Lard-money theory,—the prom- feca of somo bank to pay fn hard monoy which cau nover be fulflied, If there i a ftuto in the country that Is prepared o resuma spoclo payr eata it 18 Call- foruls, A« wo havo said, £old thoro ks alwoys been the standurd, Forly ratllion dollars a ycar are pro- duced from ia mines, 1t fs an immenso sgricultural Stato; ona aof tho largeat wheat-growing and flour- manufacturing Htates in tho Unlon, It fs a great wino-oxporling and vegetable Stafe, 1t not only lives withia ftself, but Lus » balanco of trade largely tu lts favor; yct it great Lauk cannot pay mpecla to meet ita debta, and 1a obliged to suspend, ‘This shows bow ab- surd would o thn attempt to maintain epecks poy- ments I the Atlaniic States, whara we have 1o such £0d facilitien an Culifornia has, ond whoro in evely Tespect wo would be ot & dlsadvantago with her in sockiug (o malntaln coln payments, We cannot now 80 natlon pay 1 coin, AR mtempt o imwodiately il 8o moane aimply national baukruptey aud rufn,— Cincinnald Enquirer, Wo givo thia nrticlo that it may show the desporation of tho advocates of inflation, aud their frautic desiro to diseredit gold as money. The troublo with the Bauk of Cali- fornin was not a failure of apecie payments, but a failuro to pry at all. Had the difficulty beon & mero want of coin, that would have been n temporary interruption, as in the case of tho other bruks of San Franeisco, until such time ns bulllon could be converted into coin, The Baunk of California failed because its means were squandered and exbauated, It had no coin, nor anything to exchango for coin. Tho troublo with Jay Cooxz, Doy- osN, SueryaN & Co., B. P, Arizy, and the othier baukorys that failed, wns not that green. backs were searco, bitt that they did not have nny of them, nor anything to exchange for tham—they wero bankrapt, The consequences of tha failaro of tho Tauk of California have proved a serious dis- appointment to the inflationists. Thero has, in fact, beon no panio and general smash as tho infintionists hoped for, tho failuro boing confined to theono bank. Compare this rosult with that which followed tho failure of Jax Coorx & Co., in Soptember, 1873, Jav Coosz & Co. were an insignificant itom in the financialaffnirsof tho Atlantic system of States, They were but one Lank out of scoros of equal importance and magnitude, whilo tho Uank of California was the very ceutre and heart of the fluances and commereo of the Paciio States, It wna tho financial nud commercial regulator, controlling practically the mining trado and bnsiness of the whole Pacifio Slope, Compared with Jay Cooxe & Co,, the Bank of Californin was of moro consequeneo to the States doing busincss on a coin basis thon fifty Jax Coores wero to the greonback necessities of life, chiefly articles of food. The banks which did not fail permanently hd to resort to the most extraordinary sub- terfugen. Notwithstanding the Troasnry illo~ gally prid out to them twenty-aix mwillions of rotired greenbncks, they were unablo to re- sumo ; the New York Clenring-Houso beeame n miserable protonso; n system of checks was substituted for settlentents in most of the Iarge cities, and for sixty and ninoty days the oxistenco of theso banks hnng by tho slight. est thrend of public forbearance, Chicngo was the flrst to recover, becauso Chicagn dealt in cnttle, brendstuffs, nnd provisions,—positive nocessities, Dur. ing tho two years’ that hava followed, the country has been diligontly seoking re- covery from the sbock and prostration which followed the failure of the speculators, Jav Cookr & Co. It will take years yet for thou. sands of individuals and corporations to regain the position from which they were thrown during the panis of 1873, and many will never regain it. The panio iu California, compared with that in tho greenback Btates two years ago, is noth- ing,—scarcely a flen-bito. The recovery on the Pacifio Slope will be rapid and vigorous, and tho effest of tho explosion of tho Rar- sToN concern, upon the wholo, will provo boneficinl and snlutary to trado and com- moree. Business over thore is dono on the gold staudard of values, and the failure of no stock grmidera con seriously interfero with the great industries of tho Pacific States and Territories, ARE flflBENhAOKB ‘ PREFERRED"” TO GOLD p A corvespondent ealls our attention to tho fact that we neglected to answer one of + Amerigo's” quostions, which was passed over beeause be proponnded more questions than could be properly treated in the span of ona nrticle. 'Tho question was : Wax T not right In saylng that the fact that groen- backs eamo into general use and drova thio gold out of eirculation proves that tho people proferred thew to gold ? Certainly not, Oue can only prefer some oue hing to snother thing whon e is pot- mitted to havo a choice. In the case of greenbacks, the peoplo had no choice, Not only were the greenback serip isstied by the Governmuent and forced on the public ns ““money ” hy jvirtue of its war-powor, and made legal-tender to the soldiers and sailors, to the contractors who furnished cluthes, arms, and munition, to tho farmers who fur- nished grain and provisions, and to all the various classes of peoplo who bad claims upon the Government, but the Con- gress of the United 8tates, by virtue of tho snmo war-power, further assumed to compel the citizens to receive its serip from cach obher in payment of debts con. tracted on o gold basis or for gold considorn. tion, 1t ovacted that every debt which ex- isted betwoen citizons and corporntions could bo discharged by the payment of greonbacks, regardless of their value, and that a tender of serip in payment of a debt contracted in gold released tho. debtor from all further linbility. Wo should like to Lnow, there. fore, how it can bo reasonably held that the peoplaof this country preferred tho green- backs, and that this is tho reason they drave out the gold, whon, ns n matter of fact, no- Dody bad the slightest discretion in the wmatter. . Thera is anothor viow of the case. If there Btatew, Yot Tour days aftor tho failuro wo havo the following Associnted Press state. ment ns to tho effects of tho explosion : 8aN FRANCIRCO, AUY. 30.~The city bas resumed {ts wonted quiet, The oxeitemont of the last fow daya Las diod out, aud o general feeling of contidonco scetns to biave followed fn Lanking circtes, No furthier concern {8 apparuntly felt, ‘Tho Hecretary of tho der. chauts’ Exoliaugo Bank, fu an interviow to-day, statca that his bauk will probably resuma in the morning, Collection day {9 thne far progreseing with a rautusl fueling of accommoidation among business men, It 14 ditticult to aucertain how matters stand befor mg. A large proportion of th y §u in a cotdation to satisfy all Hon, and s genoral diaposition s evinced to reuider ald and uxtenslun 0 those who neod i, ‘The “panic " begunand ended within threo doys,~with tho failure of ono bank, and that will pay to its depositors twico or thrice as Inrgo a per cent ws Cooke, Duncay, on ALLEN'S rotlon concerns, Iow was it when Jay Coox. & Co, clased {heir doors? Within twelvo hours almost every bank, private and public, in the Htate of Pennsylvania was closed. Within thirty.six hours tho banks of New York closed their dours to depoaitors. Doy aftor day the calawity spread, until thers was soarcely & bank in the country doing business ou & currency basis that had not practically suspended payment, Nearly 2,800 bauks, National, State, and Private, sus- pended ; o thousand saviugs buuks locked thoir doors agaiuat their depositors, Within o fow weeks and iu rupid succession thop- sands of manufacturing establishmonts put out their fires, stopped their machinery, und discharged their operators. It iy said by Gen, Burtwer that ovor 2,000,000 of men and women have been put out and kept out of employment a3 a cousequonce of tho puvio of 1873. Furnaces wero blown out aud a large proportion of them Love mover resumed. The Oity of Thiladelphia was convertud from au active, busy, judustrial hiveinto an jdlo, destitute, unemployed peo- plo. Many branches of industry suspended pormanently, QOommercial houges tumbled by puirs, by ‘teus, and by scoros. Tho sale of many clussos of goods wos almost suspended. ‘Tyade fora timo wes coufined to the more could bhavo been sny choico in tho mattor, but one portion of the people conld have pre- ferred the greenbacks, viz.: those in debt. Is it likely that the croditors who had loaned gold or sold property at gold prices proferred to reccivo what was duo them in a deprecinted currency? Tha greenbacks began to deprecinto immediately upon thelr issue, and they have never since beon worth par. In thonsandsof cases the crod- itor has beon forced to roceivo $1 in green- backs in payment of a %1 dobt, contracted in gold, when the groenbacks wero onmly worth 50 per cont. In such case he ouly ro- ceived one-half of his lawful claim., Doos nnybody supposo that he preferred this sort of payment? It ie very likely that n ma- jority of the debtors availed thomsclves willingly of this opportunity to pay their debts with doprocinted ‘Treasury notes, Wherover there are two currenoies in the country,~a botter and a poorer,—it is buman naturo to pay off debts with the poorer cur- roncy. ‘I'ho men 8o sensitively honornblo as to refuso to avail themsclves of such a privi- lego aro the raro oxceptions. Tho simple fact, readily acconnted for on naturnl grounds, nud abundantly demon- strated by oxperience, jg that the poorer cur- reney always drives out the better curroncy, ‘Tho monoy of the world sought tho channels where it alone is recognized, and groenbacks flooded this country and remained in thuy country beoauso they had no money value outsideof it. While the peoplo of tho United States wero forcod by law to take depreciated greenbacks, and the people of other coun- tries refused to take thow, wo do not aco what warrant thero is for belioving that any- Lody preferred them. Offer anybody—Pig- Iron Krrpy included—bhis choico of a gold englo or a ten-dollar greenback, andseo whicls ho prefors, e 1t is woll to oansider the cause of tho panie of 1873. Why did Jax Cooxe & Co. fail, and why did tho failure have such a wide-sproad effact ? Jax Cooxe & Co, wera private baukers, aud ny such had mado immenso sums of monoy, Thoy were not content witls the profits of legitimate Lanking, They owbarked their monoy and the mon- oy of thoir customors in wspeoula- tions, Thoy identified thelr speculations with those of others. Thoy engaged in bullding railronds which were not wauted, and which could by no possibility make re- turn on the investment for yoars to como. Thoy lonued or douated their oustomors’ wonoy to purchasa Yegislatures and procure subsidies ; having exhausted all their own 1meansy, thoy spent the last dollar intrusted to themn by othors, and then, of nocessity, failed ! That, of course, was'a natural offoot of that kind of busincas, Why, however, did their fuilure produce the general disaster throughout the land which followed ? Bim. vly becauso their coudition of existence on credit was tho general condition of the busluess of the couniry. AN oth- er bonks wero doing business on the &amo play, to u greator or less oxtent. Actual copital, substantial moans, bore but a small proportion to tho credit omployed. There ‘Wore thousands of miles of other unproduc. tivo and unuecessary railrosds building oz- clusively upon credit; the iron milla and the coal mines wero doing business on the bonds of those ruilway companies; manufacturers were forcing businesa by immense over-pro. duction ; tho banka of New York were loaning to spooulators on all manner of insubstantial securities [msucd by speculative companies, It was a season of unexhaustible credit and cowparatively limited capital, It was per- i 4 au accidant that Jax Coosz & Co, broke down firat; but the lenst nlarm was fatal to nll things dependent on unquestioned eredit. As eredit perishied, the whole fabrie fell, bury- ingg boneath it overything unrenl, fusubstan- tinl, speoulative, and delusivo. Roal values were not destroyed, Bvorything sub. atantinl remained as before, stripped of it falso, speculntive character. The unrenl had vonished, and the differonce between the substantial and speonlative value, was the loss eustained by tho panfo of 1873, Tho magnitudo of that Joss merely shows how smnil was the substanco compnred with tha shadow, Tho renson why the Cnlifornin panic has been so briel, aund its effcots 50 limited, is that tho bank which had imitated Jar Coorr in reckless spoculation had nlso oxhausted its oredit. But Californin gonor. ally waa not doing business on a spocnlative sealo with speoulative monoy, Gold has not risen or fallon in Ban Franelsco. Values bo- foro the panio bave not changed sinco. 'The metal bars, which aro the basis of credit in California, remain unchanged. Dollars nre the same, There has been no shrinkagn in values, The banks have bsen compelled to {10 no tokena ‘or serip ¢ ns roon na the mint cean couvert the motal into coin thoy will ro. sumo, That {s the differonca betwoen a panic among people doing business whoro capital rests on credit and thoso dealing where credit reats on capital. thetr neighbors, and mnking galn by dislionest means and avoidanco of Jahor, which is tho present curso of this country, and whioch is responsiblo for almost every other sin and ovil, a8 well ns the ronree of much of the crimo in the community at present. If tho revivelists ean wako the people honest, they will strike at the very root of the ovil. Insicad, there- foro, of trying to impress men with this or that viow of tho Unknown, let the ovangelists preach tho necessity of Aonesty, nud have the churches practico it. Lot them unite their efforts to reform tho world in the things of the world, ond, having dono this, tlio afiairs of the next world will bo much ensier to tako caro of, ‘This is tho tonio which thie people need, and auy other remedy will only be seattering in ita effeots, nnd productve of comparnativoly little good in curing the specifio disease. Many observing, thinking men have littlo faith in ordinary revivals, not believing that their effects nro pormanent, bub aro montly spasms of religious cxcitement, nud apt to bo of Jittlo value iu their aftor efocts. It may bo that n rovival of Lonesty might 1ot bo permanent,—bnt that ia neither hero nor there, Dishonesty is tho crying evil of the community, and ngainst this ovil tho whole fores of the evangelists, with all the aid and comfort tha churches can give them, sliould bo directod, ‘This will bo in sccord. anco with Christ’s teachings. His Golden Rule, Do unto others as you would have othors do unto you, is the very essenco of honesty., If that wero practlcod universally it would promote gencral honesty and virtuo, which would be conducive to the growth of religious feeling, Aro Messrs. 3foopy and Saneey ready to grapple with this groat evil of dishonesty which is undermining the whole community ? Are tho churches ready to rupport tham and aid them with practienl wark? If they ove, then great good may grow ont of the rovival. If not, thon wa fear that the rovival may prove only a sensation of excitemont, ephomeral in its character, and not productive of the roform which is most needed. THE “BIOK MAN'S” GER, The fnsurgents in {he Christian provincos of 'I'urkey scem to scorn the warning of the allicd Powers that the time for their delivor. ancs hns not como. They apparently propose 1o deliver themselves, whether or not Russia and Austrin have decided on their futura wmasters, Two ingignificant dispatches havo been flashed under tho Atlantie. Tho first reported that Bosnin and Servia, which lie Jjust oast of Herzegovius, and are two of the five important provinces of Christion Turkey, wero in active rovolt, 'The aecond conflrms this, Bosnin Dhas rison in rebellion, A Bervian army has taken the ficld and seized the rosds and telegraphs, Tho esble makos such sad work with the names of places that it is impossible to follow tho war precisely, but it is cortain that tho insurrcotion ia spreading. Ono sign of this is the Lelligarent attitudo of the petty principality of Montonogro, which wonld never dare engage in tho strugglo un. less thore was n reasonsbla chianco of success. Another sign, and a more important one, is tho appenarance of bands of Servinns in the Balkan Mountning, tho froutier betweon Mahometan and Christian ‘Lurkey, with tho avowod object of inciting Bulgaria to rise, If theso ntiempts succeed, the insurroction will strotch from the Adrintic to the Black Sea. Moldavia aud Wallachis, the only other provinces mnorth of tho Dalkans, arc in o stato of chronio disaffection. Thoy have already wrested a somi-inde- pendenco from Turkoy, nnd will, doubt- losg, nasist the other provinces secretly if not openly. Tho littlo fire kindled in Herzo- govina, only a fow days sgo, is burning furiously north of the Ballmns. It may purgo the whole section from Turkish rulo, Race and religion combino to make the hatrod felt for the Ottoman and the Crascent sincero and lasting, ‘Tho Turks are conquer- org. They have only garrisons scattored hero and there in the insnrgont provinces. As yeot they have won not a singlo victory. Tho only successos are those of tho robels. Unless Austria, Germany, and Russia in- terfers, tho Turkish frontiar will very likely be pushied back to the lino of the Balkons. If they interfere, and if the insurrection is thorefora crushed, Turkey will be forced to grant sweoping roforms to tho Christian provinces, Inany ovent, the wenkness of tho Ottoman rulo will have beon domon. strated, nnd tho political almanacs of the fnture will have this logend written naross every page: ‘‘ About this tino look out for an insurrection in the Christian provinces of Turkey.” THE NECESSITY OF A REVIVAL, There are tiwes in tho Yifo of almost overy porson when the vital systom gets run down. The machinery mns hard, Tho powers are encrvated and onfecbled. The whole physic- sl man reachea o low tone, and then n tonic becomes necessary to braco him up and re- store tho reduced strength to itsformerstand- ard, Tho community periodically has n aimilar experience in a moral direction, and it is now in thig condition. Tho moral ays- tam of tho community hns reached s vory low touo. It ia cnervated and enfeebled, It is not capable of resisting temptation, Die~ honesty, frand, theft, gambling in values, de- faleation, nnd tho manin to mske moncy without rondering an equivalont, have Llunt- od the moral sonse, especially in politien! and ocommeroinl life, until the almost wholoe meral wystem in cities and towns has become torpid and innctive, and conscionce has well-nigh censed to work, Tho moral systom now needs a tonic,—something to braco it up ond set its inactive powers at work nagain. It scoms as if an overruling Providonce bad brought about tho disasters whicl: havo overtaken such mnen ns Fisg, Jay Cooxe, B, F. Auten, Hexny CrLews, DuNoaw, Suxnuax & Co,, and Rarsroy, ag significant warnings that this hendlong ayd dishonest scramblo for rickes must bo stopped or uni- versal rain wil ensuo, Thero i littlo doubt that o religloua rovival conducted and applied in a proper manner would prove just tho touio which tho moral system of tho country at present needs, and 05 tho preliminary arrangements aro already belng made, pending tho tours of tho ovan. gelists Moooy and Banxey, of which the Farwell Hall meoting on Sunday evening was n part, it is time to give s word of advice to the managers, A rovival can be made pro. ductive of much good orof no good, just as it is applied and direoted. Wa do not believa that tho most important naed of tho conntry is a revival in the ordinary religious senso,— A BLESBING IN DISGUISE, Wo cannot but think that tha explosion of the Bank of California nnd tho suicide of Razsrox will prove to bo of great benefit to the people and interests of thoe Pacifie Slopo. There has been a great shock; thero will bo serious individual losses; the failure will put an ond to much apparent prosperity; and thero will be a general apprehension that the disappeavance of Ravstox from the sceno will chock tho development of tho country. But a large part of the prospority idontified with the Bank of California has beon dolu- sive, and the dovelopment nnd progross asso- clated with Rararon's enterpriso have heen morbid and overstrained. All his enterprise wns in the diroction of contralized absorption, of which ho wns the head and front. Tho Bank of Californin was the central power in g grent varioty of gigantio gambling schemos that nbsovhbed the profits or dictated values of that entire section of the country. It was n sort of onormous dovil-fish that reached out its tontacles throughout the Pacific States, and fastenod them upon cverything that had life and fresh blood. RarstoN was the daspot of the rich region which is 8o much cut off from the rost of the country by dis- tance and customs as to bo almost o soparate nation. He was merciless in tho exorolso of lis powor. Ho had princoly hospitality for strongery, nnd o royal graciousness for his “crowd” of frionds and courtiers, but ho was utterly relentless in his troatmont of all who opposed or criticisod him, The peoplo of San Francisco who felt kis tyranny and frot- ted under it dared not speak of it above & whisper, and thon only undor the ban of con- fidenco nnd socresy. 'Tho newspaper pross were silonced oqually by fear or gain. Rar- sTON was absolute, His powar oxtanded far boyond tho Bank of Californin, which was merely tho nuelous of his operations and the rendozvous of the ‘‘crowd” he had gathered sbout him. Ho diotated the ratcs of in- terost and controled tho pccommoda- tions of nearly all the banks, Morchants, miners, speculators, renl-estate dealors, smaller bankers, hotels, railroads, steambont ‘lines, farmors, and oll clasges of business men cither truclded to him or feared him. Cali- fornin has been in an nactual stato of bondago, from which nothing but the collapso of the ‘bank and tho doath of Raxstox could have liberated it. Tt is diffioult for any ono who hns not pex- sonnlly observed the subserviency of San Franeisco and California to Ranston to ap- preciato the full extont of that man's despot- isni. It waa founded primarily upon mining interests and tho land monopoly peculiar to that State, which Ransron defonded and promoted. He uttracted about him tho great Innd-ownoss and strengthoned the monopoly by practically prohibiting tho ealo of land in small tracts at any price. It was through this monopoly that ho was ablo to control the richost products of the country—particularly tho grain and wool—and ally it with the control of the transporiation interests. Ho oxercised o sort of diotatorship over the Californla rivors ond the ‘whole proble of intorior transportation waa ‘{n his honds, To this he added alarge in- fluence in the trado with China, Japan, tho Indies, and the Sandwich Islands. 'The mo- nopoly which he built up included tho ten, coffec, and sugar trade. Ilis vast influenco over tho praductive and industrial interests of Callfornia was not used for the benofit of tho Btate. Evon San Francisco was bonefited only incidentally. It was personal gain that absorbed his mind nod ruled hia conduct, for Limself and thoso interested with him, Tho result of his plan of operations woa a grow- ing centralization which had the practfcal offeot of prohibition upon all outsidg of the bank alique. Tho RarsTon monopoly was hydrs-headod. In addition to the coutrol of the legitimate that is, a rovival involving theological { produetion and industry of the State, it en- conditions, and turning upon the- | deavored, with varying sucooss, to control ological probloms and mystories. The | the mining stocks of the State. Raravon pressing need of the country is mnot n revival of thia croed or that crood, in this de- nominstion or in that denomination, of dog- mes or points of belief. It is doubtful whether the peoplo most in need of vitsl piety would care to take part in arevival whore thoy are to hear anything about justi. fioation by faith, eleotion, foreordination, transubstantiation, oconsubstantiation, bap. tism, Calvinigm, Armonianiss, or suy other ation, ism, ology, form, or cereinony or mode of faith. A revival of this Lind will not reach the woak spot in the body politlo or brace up the moral syatemn, What is wanted i a revivgl of honeaty and integrity, and then theso other thinga—faith, hope, charity, and other graces and gifts—will follow in due order and suocossion. We do not noed a re- vival of tho terrors of Hades for sectarian unbelief or dogmatio indifferonce nearly as much 08 we neod & revival to stop men frowm swindlivg, gambling, dofrauding, appropri- ating othor peoplo’s money, overreaching succeeding in inculcating 8 mania for stock- gombling in Californis, and particnlar- ly in 8an Fraociseo, that was wilder and more vicious than that which provailed In Paris ju Joun Luw’s time. Rar. sToN encoursged and developed it with the same salfish purpose that controlled all his sotions. 1o dosired to maonipulate, and toa large degrac succeeded in manipulating, min- ing stocks at his will, Ho beared and bulled the market whenever ho saw it. He yunup worthless stocks snd depressed valuable Btooks to sell or buy st au sdvantago. The funds deposited in the Bank of California wera constantly used to that end. e tempted women as well as men {nto the vico of gembling, Partors and servant-girls gambled in stocks as woll as thelr ecmployers and mistresses, Employes robbed their patrons and benefactors to gratify the passlon which Ratston had excitod. Thers was & more goneral and deep-rooted demoralizetion of Dusiness and goclety on this account than in tho enrly days of Californin, when there was no gocicty except that of tho Lar-room snd faro-don, RarsTon's eliquo alko suceacded in securing a monopoly of the quicksiiver, which controlled tho valuo of the gilver ore,— n wonpon that was used without atint or mercy. Raratox's spirit of monopoly pormeated politics ns well ng business, Ho hled the Btato and the cily wheraver Lo could, 1lis clignio owned tho San Francireo Water- Workas, which he was abont fo forco upon thao city, by bribery of the Aldermen, at threo or fonr times their cost when the crash came, He bought up Legislatures, Common Conneils, and nowspapers, as woll as the grolu, the mines, and the stooks of tho Stato. Will not Californin and San I'rancisco bo bettor off withont such an incubug ? Cannot tho pooplo of Chlifornin woll afford to nban- don the glitlor and excitement incident to NarstoxN's iden of progress for a free- dom from the ecrushing folds of tho pytbon which enveloped and bound thom? Do they mnot aspiro to bo free, so that a stout arm nnd an honest heart mny battlo for lifo and competency without being mot by overwhelming opposi- tion? If thoy do, the failure of the Bank of Chlifornia may bo turncd to tho advantago of honeaty in politics, deconcy in society, and fairness in business, But the people of San Francisco must guard themmnelves agninst tho dauger, alroady threatening iu somo qunrtera, ihat the despotism from which RavsroNn way 50 suddenly asd violently deposed will bo as- sumed by another clique. I'ortunntely for the State, it will bo hard to find nnother Rar. sTON to lead and control it. THE METRIC BYSTEM. A large numbor of mon eminent in seience and literaturo aro circulating a momorial in favor of a genarnl adoption of tho metric systom. of weights and mensures upon the Fourth of July, 1876, Every patriotic Amer- ican is to go to bad on the evoning of thoe 3d weighing so many pounds, and arice tho next morning with n weight of €0 many hecto- grams, When ho lies down, he will measure n certain number of feot, When ho gets up, hig hoight will bo expressed in meters, In- stead of mveetening his coffeo with a certain fraction of anounce of sugar, e will drop in a milligram or a centigram of the sacchn- ring atuff. He will ask his nstonished wifo whether tho jug ho is to carry to the grocer holds a decilitor or a deknliter, and will ex- press a fervont hopo that by rnother yenr hio may lave saved onough 1o purchnke o fow squaro yrinmeters of ground. Wo foar this dream of an instantantcous adoption of the metric weights nnd measures will nevor bo realized. The average man will cling to tho familiar numos now in uso. Ho will talk of inches, feat, and miles, not centimotors, moters, and kilomoters; of ounces and pounds, not decigrams and grams ; not liters and hoctoliters, It is doubtful, indoed, whether an international decimal system of weights and mensures will ever bo adopted, mnotwiistauding its evident ad- vantages, Our decimnl monetary system was ensily earried out, because its wiit—the dollar— was already in use. If the pound avoirdupois shonld bo takon as the standard of weight, not only for avoirdupois but for troy and apothocarios” messures, and decimal multiples of it skould Do adopted, wo might perhaps have a decimal system of weights, DBut it would not coineido with the metria system, becauso tho grain, which i tho weight-unit in that, is an incon- venient fractional part of the pound. Then, too, it would bo ncocssary to change tho woight, and thorefore the valuo, of the dollnr nnd all our other coins in order that a certain nunmber of dollars might just weigh a pound. In California grain is s0ld by tho contal (100 pounds), This is a stop towards the reform, but, whon the contal was introduced into the doalings of tho Chicsgo Board of Trade, it waa specdily sbandoned. The same merious dificulty hindors the ndoption of the proposed matric mensuares of capacity, It the pint orquart coincided with the liter or any of its multiplies or submulti- ples, tho thing might be dono, As it ig, the new measure would havo to bo transiated in- to the old, and people would prefer to avoid this bothorsomo trouble by clinging to the old ontiraly, The greatest obstacle to the change, how. aver, would be in tho measures of length, Every farm between tho Alleghanies and the Rocky Mountaing is mensured by surveys ‘based on miles, Evory city-lot in the country is mensured by snrveya bnsed on feet, Theso two denominntions—fect and miles—aro in- terwoven into numberless transactions, They cannot bo abandoned, But nelthor of them finds any oquivalent in the Fronch tables, Morcover, thoy cannot both enter a decimal table. If tho foot is takon ns the unik, the rod would have to be 10 feot, the furlong 100, and the mile 1,000; or the yard would bo 10 feot, the roed 100, the furlong 1,000, and the mile 10,000, Either change would involve endless confusion. In the same way, if the mile ia taken as tho unit, the foot would have 1o be lengthened or shortoned. Germany changed from tho old system to the now, but the change was dus to two con- ditions which do not exist Lero,~a despotic Government and o disciplined people. If the «change s over mado, it will probably be in the way in which n national coiunge iu somo- times changed,—by calling in tho old picces and ispuing the now in exchonge for them. But this process is far casier in the case of coln, which clrculates, than in thatof waights ond measares, which are stationary in each shop. i ‘I'he Ultramontane viclory in Bavario grow less aud loss, ns fullor details of tho election come to band, In 1809, the Ultrawontancs nhad 89 votes in the olective house of tho Davarisn Parlinment against 71 Lib. ol votes, Thoy offectod this by a akill- {ul alliance with the *‘Patriots,” the Biate- Sovereiguty party of tho Kingdom, which OppOscS BACESSATY contralization, and calls the Prusaian Royal race a mushroom growth compared with tho veiguing fumily of Bava- ria. Yot the majority of 18 vanlshed in 1870 and the Liberals, though in a minority, prac- tically controlled the last Parliament. If tho . Ultramontanes were thus powerless, with 89 to 71, what can thoy hope to do now, with a nowinal majority of only 2,—79 to 777 Tho Catholio papers of the Kingdom confess that tlie victory is n sweeping defeat. e ——— Ths clergymen of Ban Franclsco on Bun. day last preached sersuons on the doath of the sulcido, RarstoN. The tolegraph re- ports that “the general tenor of the dis. courses were eulogiatis, on the popular, able, and generous charaoter of the decoased, with duo discrimination in regard to the errors of bis course,” It will be dificult for the woralist to understaud what there was in the life, character, business trausactions, or the sulcids of Rawsgon to mspire ¢ eulogistio ‘discourson ™ from ministers of tho Qosupel. What was thero in hin lifo, charadker, or exploits which justified Lis being held up Ly tho clergy ns nan ox- ample to youwng mon, or to old men, or to bankers, merchauts, or politicinns, or nny otlior olass of society ? That ho was popular in one sonsa is truo ; all prodigals aro whiis the monoy holds out. That hio wns *“ahle” was tene 3 all succensfnl gamblers are necos. sarily go. That ho was generous with othor people’s moncey is unquestionable; noverthe. less, thero is littlo in that kind of popnlarity, ability, or generosity that is oithor honor. able, commendnble, or exemplary, or of which a man might bo proud. Nevertheless, the clergy of Ban Francisco seem to havo found in his carcor something to exalt and held up to the admiration aud respect of their con. gregations, Boliil mon of B¢, Louis aro confined fn many diroctlons. Thoy are forbidden, lika sll othor wolid mon, to maka long orationy or to drink dosp potations ; and rocant dovelopmouts show tlhat thoy aro algo requirea to rogulato their con. duet with roferenco to porsonal deportment of anothor kind. What is roqnired of tham now is modesty—an absonce of cheok. This domand will appear to the ontaido world a serious attomps to curtall the working capital of Bt. Louls. It does, indeed, look like an ipaidions echomo on tho part of Chicago morchanta to domollsh thete nearcst nod moat dangoroua rival by s singls torriblo blow. Tho mauner jo which this do- mand for modesty in St. Louts was firet toado is fully sot forth in tho nowspapors of that aity. 1t wan an important movoment, arislug in connec- tion with tho building of the uow Merchanta Exchiango. Tho Dircctors of that building had pormitted tho artiata ln charge of tho frescolng to plnce fu tho colling, 75 foot above the floor, medaliion portraits of Lvalve promivent citizons of Bt. Louis. Tiue mon thus honored woro: Davip D, PAcE, JAMES 13, EADR, ApAM B, CuaM- vens, HupsoX E. Drivog, Tuomas Avtuy, Jaxns 1. Lucas, R J. Lackuasp, NATHANiEL Pascirary, D, 1% Rowranp, Witraas M, Mo- Puensoy, Hgxny suaw, F, D. Ler, When the work was completed and tho buflding was ale most ready for occupancy, a formidable petition was proparad by morchants Intorosted, roquosts ing tho Dircctors to wipo out Lhe poriraits or conslder the Merchants' Exchisugo abaolved from ita contract to uso the building. So it I8 proba« ble that the portrails will be orased. And this fs why wo pay tlat modesty fs a now roquisite demanded of 8t. Louis busiycsa men, and also why wo sny that n blow bhas been simed at that check on which, ss on s foundation, the wholo aeuporatructurs of {he city-stands, Nobody bas protepded to douy that the twelve men whoso portraits havo baen painted in the Merchants’ Exchsnge building aro wortby of tho honor, if anybody s, and tho conclusion is thereforo iuevitablo that & new codo of morcantilo morals hos boon intro- duced 1 thecity. An euemy bath dono this thing. — The Now York Ierald, tho organ of the Emere ald Islo, fnds fault with Mr. DAvENronT, the actor, for announcing that **tho public will kave on opportunity to judge whother American actors csu render SmAkePEARE'S masterplece,' and vonturos the prediction that *'thereiano danger of M. Davenront's attempt to play ‘Hamlot' with American octors resulting lu auything more thon o burlesque” Mr, B, L, DaveNvoRT has tho misfortnno to bo & native of this country, but all Intoligont, if nos *intel- loctual,” crritics coucede his porformance of Lamlet to bo ono of the most truthfnl repre- soutations on tho stage. Tuere is no dsnger of his burleaquing it. It may bo comforting to the Tipperary oxiles to think so, bnt tlio besy of our sctors aro natives. To chargo DAvENe ront with troating s rival discourtoously bocauss Damwy Burrivax bappens to be an Irishman, snd to bo paraded an guck, whoen last timo he visited this country ho was an Englishman, is to make s ridienlons blunder. DDAVENPORT'A American come pany {8 a timely protest against tho conduct of manngers in giving the proferance to inferior ar- tists who happou to bo foroignors, and meke capital ous of it, espocially to those who change & man's nationnlity to suit the tondenoy of tus Lour. As one of tho signa of tho times, it may be noted thal the Southern papera aro beginning to discuss the Prosldentisl question with a groat deal of intercet, Tho New Orlosns Picayune, an old Conservativo-Domacratic papor, docs nob train with tho rogular forocs, but has shot off at a cnrious tangont, and nominntos Crances Fraxcis Apams, slthough in a Lopeless kind of way. Aftdr oxprossing the doubt thatany of the political partiea will neminate him, 1t pro- coeds to pay him tho following handsomo tribe we: With fortunes sufficient for all his noods, with pride of ‘person and tradition to Lfé hiin above {he sordid vanities and meanniceses that Lavo come to bo regards o an tha lares and penstes of tho White House, with - qualitles of churacter that would quell the’ ve thought of securlng Lim for an iguobla ead, and wi qualitios of mind, and fnstinct, aud oxporicnco, task would guarauten fo all & pura snd_beneficent adininis- tration of affaire, CusnLes FRaNcis ADAMS 14 a men to whom the eyes of thio poople might erisely turn ta ihta crisis of theie destinies. And for those vary ros- sony 1t scema 1dle to hope in hia direction; for the Very vossons that commend him to the pooplo Lo wilk Iack the favor of commiticos aud conveations. : —— Tho victary of tho Atalanta crow in tho Barse toga nmatonr TeRatta fa considorod by tho Easte orn nowapapers quite s victory for collego-brod muscle. All the mombora of the crow had beon traiued in collsge clubs,—threo of thom boiog from Wesloyan and one from Williams. Befors " tho race, the Atalautas sold lowost in the pools. Tho old hoads eaid that notuing wouderful could bo expected from raw boys. But tus old heads wore mistakon ; and tho Atalanta Directors wore quite justified {n their exporiment of diacarding old stock aud teking t young blead. This i the firat race that the Atalanta Club has won for savoral yeara. ————— Thoy bavo been doing the prond thing by our Pmr BuknipaN on the Pacific Coast, Happily for him, bo arrived boforo the fallure of the Bank of California. Ifow slight la tho differ- enoo of circumntancea that mnkes greatncsa oF ingignificauce, Clon, SuxnIDAN was big enough to attract attention from the politioal campaiga momentarily, but the Bank of Callfornla failure reduced oven him to the ranke, —_— Tho dictatos of fashion aro those of folly. The most gracaful fashion folly has chanced to bo pleasod with in & quarter of a ceutnry is thsb which prades and quacka denounce ag *'iho im+ modoat pull-back.” Folly comoa to the roswus of prurient prudery by annoonolng for nest ses- won a°roturn to the ungraceful and really ime wodost hoop-ukirt of excesaive praportiqng. o e S SR I3 TMow long shall we, whose souls ars lighted with wiadom from on bigh, sllow the bonighted Chinaman to die of sun-stroke {n tho greatdosert of Coloredo, where the thermometer would mark 120 degrees 1n the shade If thero was anY, while Duluth 1s till struggliog with Naw York for tho firet place ? Let Jax CookE veturn soe to it Litile doea tho sballow-pated lover who holds the “hank” of wool for his Iady to wind knov tho derivation of that word. The first man who did what he supposes he is doing for tho firsb 1imo in bittory was a Flemish weevor, Haxcs- Mus DE BaABANT, who settled iu York, Eug. i8 1781, and gave half bis name to tho skelu. e e 1¢ the Fullerton avenno conduit, with sll that that impliew, is not wooh compluted, funersls wilt not need to go furthor north then Nostl Markeb wtroet. ‘Tho territory lyiog motth of that polod a0d west of the, reaking river will be one horrl bto cemotery. e Tho Chingse boast that thoy macsdsmised thelr roady so long sgo that they fonget who wes tho luyontor of she progess. Ehore ¢as be