Chicago Daily Tribune Newspaper, September 9, 1875, Page 4

TERMS OF THE TRIBUNE. MATRA OF ETOACHTPTION (PAYANLE IM ADVANCE). Pontaxe Prepaid nt thia OMer. BIT. | Weaktr, | year G60 | Five cont Wartrp—One active agent in cach town and village. Bpectal arrangements mado with such, Rprelmen eqplen nent tree, 'To prevent delay and mistnker, be rare and give Prst-Ofico address in full, Ineliding Hlateand Co inty, Nemittances may bo mado either hy draft, eap-7ces Poat-Office order, or In recistercd letters, ut our Flbk, TERME TO CITY RUIECHIDEAE, Daily, delivered, Sunday excopted, 25 conte per week, Daily, delivered, Sunday incited, BY cents por week, Aditress THI: TRIBUNE COMPANY, Corner Madison and Dearborn-ats,, Chicago, Il, a TODAY'S AMUSEMENTS. WOOn'S MUSEUM—Monroe street, between Dears mand Sinte, Afternoon, 4 Heht of Women" and ly.” Cyening, “Round tho World in y Daye, ACADEMY OF MUBIC=Hulsted streot, between Msdison and Monros, Engagement of Milton Noblos, “ Dobemlans and Detectives,” McVICKER'S THEATRE—Mcdiaon streot, betwoon Dearborn end Sinte. Engagement of Edwin Adama, “Enoch Arden.’ HOOLEYS THEATRE—Randolph streat, between ge an LaSalle, Engagement of the California inatrele, CHICAGO THEATRE—Clark atroot, betwoon Ren- Melphand Lake, ** sJicarta and Diamonds.” FARWELL HALL—Madison rtrect, heturen Clark and LaSalio. Concert by the Kennedy Family, INTEILSTATE EXPOSITION—Lako ahore, foot of Adams streat, “BOCIETY MEETINGS. ATTENTION, SIR KNIGHTS I—Drill every Thnre- day ovening at B o'ck embers £r6 exrncat~ Jy requested to be pres. ‘prepsre for next Bfoue day eventug, By urior of the . ‘ RICHARD ', i Vay COMPANY st, FIRST RE 1.8, 0.—There wll Donapocial mecting 6 lh, Pirnt Stet ment 1.8, G., at their atmorg, thie (Thursday) oven ing, at Ro'clock, Every meuiver is requested to bo present, Dy order JAS. M. DEWITT, Captain commanding Company B, Che Chicays Tribune. Thoredey Morning, Soptembor 0. 1875, Greenbacks at-the New York Gold Ex- change yesterday opened at 87} and closed at 0}, the two extremes of the day, An ndjnstmont hay beon effected in the Government suit for unpaid taxes against tho Chicago, Rock Island & Pacific Railroad, the Company agrecing to pny 872,128, leaving a balance of $20,000 to be disposed of in an arbitration suit. Similor suits for large sums aro pending or to bo brought against sev- ral Chicago railrond Tho inst thing needed to prove that Chi- tago is not jenlous, butin point of fact ia an earnest woll-wisher, is supplied in the fact thot there isa perfect willingness to includo St. Louis in the prayers offered at Farwell Hall each day. A city with 300,000 non- churchgoers out of a popniation of 350,000, and acity with no Bible Society, needs ond shall hayo the prayers of Chicas Mr, drrrenson Davis yesterday delivered an address at tho Agricultural Fair at Do Soto, Mo., whera lo was cordially and guthusiastically received by both Republicans end Domocrats, His addrosy was contlued chiefly to topics of immediate interest to farmers, and politieak matters were touched upon only so far ns to predict that the people of the Mi ippi Valley would forever re- main ono people. At Charlotte, Mich., yesterday, Jonm Fim was sentenced to ten years in the Peniten- tiary for tho crime of perjury. Though Joun Fuint, judging from his namo atone, is a hoard man, and though he has received onu of the Koverest sentences over imposed, it is dif- ficult to belicve that tho sequestered glades of Michigan have furnished forth a liar whose exploita deserve comparicon with the undi- vided score of fnlso swearing recently achiov- edinn colebrated Eastern cause, whore the probability of penitentiary expistion is dis. tant tho furthest possible remove. THE CHICAGO TRIBUNE: nt 8l@tio for rhonlders, 12c for short ribs, and 12Jo for short clenra, Tighwines wero active nnd jc lowor, at #1.17} por gation, Take freights were active, and easier at 2}e for corn to Buffalo, Viour was in fair de- mand and ashade ensier. Wheat was activo and declined 1c, closing at $1.133 for Septem. er, and $1,129 for October, Corn was active and 20 lower, closing at S740 cash and 57}o for Ovtober. Ounts wore moderately activo and 4@{c highor, closing at 3440 for Septem- ber, and 88to for October. Rye was quiet and weak at 75\c, Darley was active and 20 higher, closing at $1.12 for September, and $1.06 for October. Hogs were dull and lower for all grades excopt extra Philndel- phia, Most of tho trading was ut $7.25@ 7.70. Cattlo wero active and steady. Sheep wero in good demand and ruled steady at 23,50@4.76 for common to choice. One No recont public move has been taken in the Gormonn sepulture enzo at Montreal, yet the authorities aro quietly making the most formidable preparations for tho final intur- mont of the much-traveled ond much-nbused body. ‘Two regimonts of troops have been properly armed, provisioned, and clothed, nud are kopt in reiwliness for any sudden call, ‘The armories nro well guarded as u procau- tion against a sudden raid by the rioters, and the Protestant comotery, where the remains are now lying, is also guarded uight and day to prevent possible descerntion by the mob, It is evidently tho intention of the authori. tios, whon they do move, to carry out tho or- dora of the Court, cost whnt it may. ‘Tho American Pomological Association, an organization of gentlemen distinguished in the acience and practice of fruit-culture, is now holding its bionnial session in Chicago, Tho deliberations of the Association will pe- cure marked attention and interest ins city whoso fruit-trade has ucq.ired mammoth proportions, though the present season is ex- coptional in the matter of o short supply. How to enjoy fine fruits wo know already, and in the matter of rapid, adveutogeouy handling, wherein is consulted the best inter. eats of the producer, our commission-mer. ehonts aro thoroughly posted ; but how to produce the boat aud tho choicest and most profitable of the soil's delicacies is what the Pomological goutlemen especially know’ about, aud what everybody is interested in learning, * The Pennsylvanian Democracy, like the asu between the two bundles of straw, is in o serious quandary. At tho State Convention ot Erie yusterday the permauent President mads 0 speech bristling with oratorical points, but his utterances on the question of the day, the currency question, wero of the waitowhlo onter, and unsatisfactory to the hard-money delegates from the eastern counties. In fact, this money matter has thua far proved a stumbling-block in tho Convention, and an adjournment till ta-day has boan necetkary to harmonize tho cou. iUcting views of tho Committee on Resolu- tions, It is given out that the declaration on this aubject will be of o uon-cominittat char- acter, that tho tender tocs of cither party may not be trodden upon, Judgo Hemny P, Rous ond Asos O, Noxxs ure the lending’ candidates for the office of Governor, -The Chicago produco markets were irreg. ular yesterday,-but-most of them easier, Bess pork wus active and 200 per bri lower, closing at $21.40 cash, and $20.85 for Oot ber, Lard wos dull and 7$o per 100 Ibs lower, losing at @12.00 cash, aud $12.05 for Oc. tober, Meate wore in fair dyonud wad Sr, hundred dollars in gold would buy 4115.25 in greonbacks at tho closo, ‘Tho issno in Wisconsin {4 now made up, and, as the Republicans both hoped and ox- peeted, their oppouents have ronominated tho entire State administration which tho so-called Reform party placed iz power two years ago. Gov. Tarzon’s ambition has beon gratified; ho has Inbored hard and finally sitecceded in securing his renomination, in spite of tho violent opposition of a largo element of disaffected Democrats. He goes before the people henvily handicapped with complete failure aa a Reformer, while his Republican competitor takes tho field unwoighted by a bad record, and with unbounded personal aud political popu- larity. Under auch circumstances tho result can hardly be doubted. Gov. Tavton has been indorsed by n convention especially built up for that purpose, but at the polls in November tho choice will rest with the pea- ple, and not with the politicians. Long be- foro that time the tedious and ambiguous platform adopted yesterday will have boon picked to pioces, nud the rolativo merits of men and measures will not bo obscured by mero high-sounding professions and long- winded phrases. A PREOIOUS POLITICAL MUDDLE, Present appearances indicate the most dire confusion in the sppronching city aud county olection.. All eyes (expecially those of Mr. Stoney) are turned toward Mr, Hrsrya, but Mr, Ilestxa seems to be as much confused as tho rest of them, Mr, Hrsrya’s political fuceesses in the paxt two or three yeans have been through his German constituency, and ho has generully been shrewd enough to forecast their desires, This timo ho is at sen. Tho Germans have given no sign, and ho consequently doesn't know which way to lend. Two years ogo it was different, Thero was tho issuo of Sunday liquor- drinking in the raloons to be settled. An old ordinance of twenty-five years’ standing declared it unlawful for the saloon-keepers to operate their trafle on Sunday. Tho Puritans wanted tho Inw enforced. Tho ‘Yeutona wanted it repealed, so far as vonding beer and Wine were concerned. Thero was a furious election contest on the question of the repeal Sf the ordinance, and the Teutons provailed against the Puritans, with the aid of the flery Celts, who claimed as much right to get drunk on whisky on Sunday as tho ‘Toutous to keep sober on beer, ‘ho Tenton for beer ond the Celt for potteen wero too many for the cold-water Puritans, aud carried the day, and repealed the obnoxtous old ordi- nanev forbidding publio imbibing on tho “Lord's Day.” But with tho repoal of the onciont ordinanco Mr, I{rsrya’s capital in trado was gone, The Sunday liquor question was ended, During that “fight” Mr. Hesina knew what le could depend upon, now ho doesn't, Besides, ho was at that time in the attitude of a disintorested lender, Hosonght no ofiico for himsolf, and had the credit of a pure and unselfish devotion to the appetites of his German constituents, Now ho is ask- ing an otlico instead of advocating a principle, He would like to bring about the aamo com. bination of Germans and Irish against Ameri- cans, Which achioved so romarkable a liquor yictory two years ogo. But there are seri- ous obstactos in tho way. ‘To begin with, there isn’t the sane issue. The Sunday becr question is denitely settled and disposed of. ‘The old ordinance ia wiped away, In the next place, tho respectable Germans, like all other respectablo people, aro heartly dis- gunted with the managoment of the city of- fairs. undor tho ‘People’s Party.” ‘Thoy havo no sympathy with foreign Know-Noth- ingism., They are mostly tox-payors, and aro opposed to rings, jobs, and stealn, ‘They aro quiot, and ordorly, and well-to-do citizens, aud cannot abide constant and unremitting bu:amerism. ‘Thoy fect as keenly ag any- body the disgraco thet has been put upon Chicago by having men in high local positions whom everyboily is ashamed of. ‘They have no disposition to unite in a re-election of such mon, whon there is no issue before thom but the spoils of office, . 'Thero aro still other reasons why the Peo- plo’s Party combination of two years ago canuot be revived. 3fr, Convin regards him- aclf as cugontinl to tho success of such o mongrel combination, His disposition of patronage, ho thinks, entitles him to this con- sideration, Mo wither dovsn’t want any city election, or wanls to be ronominated. But Mr, Iizsiva and Mr, O'Hara, one tho head and tho other tho front of the movezont, aro at loggerheads with Mr. Convm., They do not appreciatu His Accidency whom they in- vented. ‘They don't oven admire his bpecches, ‘hoy don’t ike his woy of doing things. Each of them would give way very willingly and strike hands with Corvin for tuutual benetit, but they could not command their lengues if Convin wero at the head of the city ticket, Convin certainly will not glvo way, All ho wants is a renomination and 6 prolongation of the sweets of power, and ho in williug to tako it from tho Repub- lican party, the People's Party, or any other party that will givo it to him, wuless ho is permitted to holdover, Ho insists upon it, and here is a dead-lock, ‘The Democrats aro likewiso begiuning to assert themselves in their old atyle, ‘Lhe war-horses aro coming to tho front, Thoy say that thoy furnish most of the votes to beat tho Republicans, if tho Republicans are to be beaten, If so, they naturally arguo, “Shall wo give the flees to nen-Demo- crate?” ‘hero is to be a Presidential elec. tion. Shall Democrats elect men to office who will uso their positions and influence sgainst the Democratio candidate when the time comes? ‘This is the quostion thoy have propounded, and it has nonplussed Mr. Hixgixa. He has walked out of the Republican party, but ho can't go over to the Demooratic purty and eccept ehinplaster inflation. If ko docs, he will loso his German hard-money conutit. .uoncy, But if he don't, ho will lose tho Detoeratio votes which gave tho Peoplo'a Party its majority two years ago, Here ig another detul-look, . Mr, Heawwa saya he fan’t THURSDAY, SEPTEMBER 9 1876. fi Democrat, and Democrata say they won't nominate and elect mongrela to oppose them in tho Presidential fight, Tho Jeffersonian Club, with which My, Hrstwa tried to associ-+ ato himself, will probably take this position, and the Cosmopn certainly will, aud then tho matter wilt become serivus, ‘The Democrats will most likely nominate natraight county and city ticket and polls big vote therefor, and Mr. Hrarvo’s namo will not bo found anong tho candidates. Yho Republicans alonoseem to bo straight- forward and casy in tho prosent situation. 'Tnoy ave quictly making their proparations to nominato a fall tickot of thelr best mon, without regard to tho bummer ‘People's Party,” the fight betweon Convin and Iirsina, orany other of tho complications that arb worrying tho office-scokers, The prograinme is to put forward tho very best mon they can fiud for tho positions, and get asmany votes for them as posible. It is for the Demo- erats to determino for themselvea whether they will forfeit the possiblo chance of get- ting control of the city ond county for tho Presidential campaign by voting for an irre- sponsible bummer coalition which is neither one party nor tho other, and only seeks the plunder of oftice-holding. Itin for the Ger- mans to determine for themselves whether they will abandon the Republican party and honest money for ihe Domocratie party and shinplaster inflation, It is for all decent men, whether Democrats or Republicans, to determine if it bo wise to encourage bum- meriam by an indorsomont of the siccotash coalition, or if it be not Letter to elect now men of respectability who will bo reaponsi- blo either to the Democratic patty or the Republican party for the honest and capable administration of their trusts, Meinwhile, what is Mr. Her going to do about it? THE ‘SCARCITY OF MONEY.” Nothing is more common than to hear thoughtless persons say that if the currency wero increased in volume times would be far better aud moro business would bo done; and thero are a great many peoplo who beliove that thero is truth in such a state- ment, It only needs an examination to dis- caver how groundless it is, ‘The plea for moro currency is put forth in the supposed interest of those who want tha means of engaging in business. The point with these is how to get thoso means, The wealth or capital of tho country consists of its accumulated surplus, ‘This is properly, not necessarily money, but property of one kind or another, ‘The value of property is in itn production, No matter what form prop- erly may bo in, it must be employed in somo way or it deteriorates; it deenys, rusts, wastes, weakens, is caten up by taxes, and is destroyed if not used. Tho owner of property, therefore, mnst use it. Ho must hire or rent it to others, or oxchango it, If it bo Innd, or buildings, or merchandise, or live-stock, he must put it to somo use. ‘The man who Las e house aud lot hires or rents it to some one who has no such house and lot and needs them, the con- tract being that at the end of o stated timo tho property shall be restored, with a certain amount of other property, in tho form of | money or otherwise, for its use. Tero is an exchango of proporties. Tho owner hires his house, his property, to another man, who in turn pays for its uso in a stipulated amount of his property, If tho tenant be a shoe. mrker, grocer, or furnituro-maker, ho cithcr pays his rent in kind or converts his property into cash and pays the latter over to the owner. Itisan exchange of propertics. If moncy bo used in the transaction, it is a mero agent in the oxchange of commoditios. If a farmer, having no sheep, purchase 500, ho exchanges therefor, with somo noighbor, beoves, horses, hogs, or corn; if the owner of tho shecp docs not want either of these commiodlities, then they sre sold to some other person who docs, and the money received therefor is paid over for tho shecp, In oithor case, tho transaction is an oxchpuge of commodities, an oxchange of properties, which properties are tho accu. mulations of the respective parties. Tho game is tho caso where Inbor is employed. ‘Tho ono man exchangas his labor for bouts, clothing, food, or ‘fuel. If ho docs not ro- ceive theso articles directly in exchange, the employer converts some proporty of his into monoy, pays it to tho Inborer, who forthwith exchanges the moncy for tho commodities ho needs, fo in transportation, So in every branch of trade and commoree. The only property nevor exchanged is money. ‘That is, non do not bny gold with gold. ‘Tho uso of money property is to facilitate the ox- chango of other properties, A has corn and wants to oxchange it for dry goods ; 15 has dry goods, but dees nat want corn; O wants corn, but hay no dry goods, though ho has leather which B wants to purchase. S00 solly his Icathor to R for a hundred dollers ; © pays the hundred dollars to A for his corn, and A pays the monoy back to B for dry goods, Tere aro threo exchanges of commodities, the money serving morely ag an agent in the transaction, and finally resting whero it started from. Nothing in the end was bonght or sold, or chonged hands, but the corn, leather, and dey goods, Tho money was an oquivalent value and 8 medium of tho oxchango, but not tho ultimate object, A common caso in tho Westorn States is whero a score of men, living in tho same gonerat neighborhood, have each a ktock of gram which they wish to convert, some into ono thing and others into other things, embracing the whole va. rlety of household and family novessitios, Atnconvonient railroad station thoy find 5 dealer who, having nono of tho articles they need, takes their grain, pays them in money, and each man takes his money to the nearest sloro and converts it into tho commodities ho wants, Here, too, the exchange of the com- modities is the object and substance of the whole transaction. ‘Tho office of the money was to facilitate the oxchango; it was in no senso tho object desired by any of thé partios to keop for uso, ‘Thora has nover beon o timo in this coun- try, nor in any othor commerciel country, when thero hag evor becn a lack of monoy dor the purpose of making the exchange of dosirablo commoditics, ‘Tho amount of monvy needed for such purposo is generally grossly oxaggorated. ‘Lhe sum noeded for that purpose bears but a vory small proportion to tho aggregate valaos of the prupertios ox- changed, On tho day tho banks resumed business in Chicago after the firo (they had beon closed to depositors for nearly two weeks), it was wildly predicted that thelr funds would bo oxhausted. During that day payments amounting to many nillions of dollars wero made, but tho amount of money actually drawn from the banks was hardly above the average. Tho ordinary amount of exchanges of commodities in this city, aa shown by the clearing-house, avernges $8,600,000 a doy, while tho actual money changing hands 9 8 result of theso transac. tions will not average perhaps one-tenth of the num. The office of money being meroly that of an equivalont agent to facilitate the exchange of comtmoilities aud not to be exchongattitsolf, tho sum needed for that purpose ia comparatively so sinoll that, ox. cept in the case of a temporary lock-up, ennsed by panic, the prescnce of hostile ar- mies, or othor calamity, there can bo no such thing asa cearcity of money. But tho causo of inactivity in business, or what is called “ hard timos,” is tho searcity of oxchangealile or loannable capital. When the man who wants materials to manufacture articles for rato has nothing’ to oxchango for such imaterinis, has nothing that he can part with to obtain tho monoy, nnd is not able to hire the money or tho materials on a rent, tho troublo is not a scarcity of money, buta Bearcity of exchangonblo property or capital. Aa wo have said, property, in whatovor form it may bo, must bo put ab uso or its value decrenses; overy man, therefore, owning property, whether it be merchandise or in the form of monoy, must make it productive cithor by hiring it out or exchanging it for other property, and, when this process of hiring, or renting property, or exchanging proporty, grows faint or atops, it is due, not to nacareity of eurrenoy, but to a scarcity of this loanable and oxchangenblo property enllod capital. This stato of things is pro- duced by various causes, When thero lng been waste, want will follow. Excess is suro to ho suececdcd by shortage, Extrava- ganco necessitates retrenchment, Wa aro just omerging from nsenson of continued aud wasteful investments in wild and un- remunerative speculations, Millions of dol- Jara have beon buried temporarily in railronds which for years will bo unproductive, Tho waste has not been repaired. There is the stagnation that followa suspension, Con- fidenco is still wanting, Holders of capital aro still fearful, and decline to invest in speculations. ‘lhe remedy for this is pro- duction, Tho wealth lost in speculation aud extravagance must be replaced by an in- erensed surplus production, Capital must bo created to tnko the placo of what has been lost, and it is this searcity of capital, and not nscarcity of mere currency, that hns produced the condition of things known as hard times. —_—_— THE CHICAGO EXPOSITION. Exposition time has como round again, and in nearly all the prominent cities of the West the year's progress in mechonisn, manufie- ture, mines and minerals, natural history, painting, senlpture, literature, music, and in- yontions is well represented, Our own Ex- position opened its doora Inst evoning to tha public, in a very unostentatious menner, with- out parades, processions, or flourish of trumpets, Although thera aro considerable finishing tonches necessary to givo it com- pletion, still tho representation is aufficiont already to indicate o decided improvemont upon the Exposition of last yenr, and favor- ablo comparison with the Expositions of other cities, Our Local reports show somo very grati- fying facts in thisconnection, prominentamong which is that, while last year there were but 800 oxhibitors, this yonr there aro a little over 2,000, and nearly 480 applications had to bo declined owing to want of space. Every department in the grent building looks weil. ‘That of rachinery and the usefil arts is more coiprehonsive than over before, and in the liberat arts almost every branch of the higher industries is handsomely represented. ‘The mineral department is made unusunolly attractive not only by the large display of metal ores and fino geologicnl spocimens, but also by the producta of tho furnace. 'Tho department of natural history last year was not particularly attractive, but this year it is romarkably complete, and émbraces an im- menso collection of fossils, anatomical apeci- mens and todela, casts, and drawings. ‘Tho houschold art department, a new feature, will prove of groat interest to connois. sours in uniquo ond artistic designs in the arts applied to tho houschold,—a form of luxury and ologance which is at tho present time attracting moro attention than ever be- fore. Tho horticnitural depnrtmont will bo decorated with tha choicest home plants and. exotics, and will prove an agreeablo place of resort for those who dolight in flowers, as well 2s for thoso who wish to escapo from tho noise of tho great hivo of industry, ‘Tre ‘Pnraune takes prido in specially com- mending tho art department. Only a wock after the closo of tho Exposition last fall it urged upon the Art Committeo to make tho present collection ropresentative of Amer- ican ort, being moved thereto by the fact that tho collection at that timo was lamentably doflciont in American pictures, ‘There was but a mero hantful, and theso, not being contributed by the artists themselves but picked up at hop-hazard, wore mainly old and poor spochuons, ‘The Committee acted upon ‘Lue 'Trinvne’s hint, and, through tho ogency of a gontloman, Mr, Jomy F, Srav- Fonp, in whem tho Eastern artists had conil- denco, have succeeded in collecting several hundred pictures from American artists, 0 handsomo proportion of them haying beon painted expressly for thia Exposition. In the hanging of these pictures, Mr. Starvorp Los had the invaluable assistance of Mr, Wits H, Beanp, tho well-known Now York artist, whoso judgment and good tasto havo resulted in placing tho pictures in the best possible lights and places, ‘Tho novol fenturo of grouping them adda to the intor- est, inasmuch a¢ it affords tho spoctator an opportunity not only to judge of an artist's stylo by comparing his pictures one with an- other, but to compare the works of different artists also, and thus ascertain. their distin. guishing features, ‘Vhoro aro but very few foreign paintings, and with a fow oxcoptions they are not romarkable, so that thero is nothing to detract from tho interest of this excellent and generous display of American art. Last yoar our Chicngo artists received rather shabby treatment. ‘This year, howover, thoy have mot with o hearty recognition, and consoquently hovo turned out an unusually largo number of works, and of unusual excollenco, Of course, as no sovore discrim- ination was made by tho hanging committes, many inferior pictures and some daubs' haya found their way in, but as a whole tho exhi- bition is very croditable, and shows that our artists aro recovering from the disaster of 1871, Re ‘Tho whole Exposition shows immense Progress sinco last year, and thus indicates mnanifest improvement in the groat world of industry, It shows that Chicago and tho West have not fallen behind sinca 1874, but are moving ahoad with wonderful energy, and that there is constant progress. “That our city will patronize the Exposition there is no doubt, and, now that the rail- roads havo shown a disposition to accommodate the country with re. duced fares, wo may expect a busy time in tho city during the next six weeks, or until the Exposition closes, We can assure our friends in the country that Chicago has something well worth sueing, and that it will richly repay them to xo arrange their fall bnainens as to come hero during Exposition days. 3 THE NEW OUEAN CABLE, The Company which ins just suceceded in laying a enblo from tha Irish const to Rye Beach, Now Hainpshire, was organized threo yearn ago, with a cnpilal, wo beliove, of $5,000,000. It haa had many difficultica to contend with. It was denied permission to land ono end of the wire on tho Nowfound- land const, because tho oxissing compnnics monopolize that privilege. It waa refused an opportimily to chartor the Great Eastern steamship, beenune that vessel is alno con. trollad by thu other cablo companics. It thorefore had to build its own ship. This took time and cost money. ‘Tho Great Eastern enn tako a whole ocean cable en borrd and pay i out from shore to shore. Tho Faraday, which was built by the Direct Cable Company, is of 7,000 tons burden, but this makes her only o trifle more than one-fourth tho nize of tho Great Eastern, Sho cannot bo laden with a whole enble, but must take it in sections. Sho began work in Juno, 1874. From that day to tho Sth of September, 1975, a constant struggle against wavo and weather and other difficulties has been carried on, At Institis happily crowned. with success, ‘Tho cnstomary congratulations have beon exchanged, nod the new wire is ready for work, Tho Forady started from England with ono -of the heavy shore onds of tho cable and paid it out successfully. When the end wos reached, a buoy was attached nnd the versol returned to England. Thence she sailed with tho American shore end, which was hhendled in the samo way. A third trip putin tho intervening section, but tho eablo promptly broke, By a singular, very singular, coiucidenco, the announcement of its irreparable damage was followed by the announcement on tho part of tho old Compa- ny that its rates, reduced soon after the now Company began operations, did nut pay and would havo to ho raised. We have to thank the repairers of tho line for saving us from this contemplated extortion, Tho Faraday ateamed into imid-ocean, grappled for tho brokon ends of the cable, found them, and spliced the break. Even this did not cure matters. ‘There was a flaw some. where, ‘This hnd to bo patiently hunted down, Tho task was performed, nud the in- jured part roplaced, While all this was go- ing on, the tender of the Fargday had to make constant trips in order to supply that versel, tossing on the stormy waves, with coal, "This was an unique expense. It is said that the whole capital of tho Company has beon sunk in the sens, and is now ropresented only by the small wiro that forms the fifth electric link botweon the New World and the Old. Tho competition of tho new cable will propably keop down ratos for some time, but it is not improbable that this, like the French wire, will ultimately pass under tho control of the present grasping monopoly. If this happens, it will stimu- lite tho belief, alrendy held by many Englishmen, that the British Govern- ment ought to take control of the ocean telegraphs as it has of those in tho United Kingdoms. Ono country owns both shores of the ocean, If it should Iny twenty cables betweon Ireland and Nowfonndland, thero woukl bo plenty of business to occupy thom all, Wo might then have a reasonable tariff, say 16 or 20 conts a,word. Enropo and America would then keop tho wires busy. Tho Nghtning would flash a flood of light upon the press of every country. Nations would bo drawn nearer together. Tho high- est interests of commorce and civilization would bo subsorved. : THE BONN CONFERENCE, Tho recent Conference ot Bonn betweon the theologians of the German Old Catholic, the Grock, and Anglican accts,:to take into consideration the difforenecs between them and ascertain how far they aro. in harmony with cach othor, seoms to have been satisfac. tory to all concorned, but mora especially to Dr. Doturxern, the originator of tho Confer- ence, who exprossed his satisfaction at a ban- quet which followed the close of the mecting. ‘The most hinportant dogma’ which hos hore- tofore boen tho barrior betweon these socts was that of ‘Tho Double Procession of tho Holy Ghost,” sad this question was tho prin- cipal theme of discussion.. Tho question is not a now one, It involves tho very quinteasenco of dogma, and it has been argued from tinie- inmomorial, and will probably continuo; ‘to bo argued to all timo, sinco it can nover be sottled, bo. ing purcly a matter of assumption and not capable of proof, The Nicono Croed frst enunciated that the Holy Ghost “ proceedeth from the Father,” and some conturies aftor- ward the Charch of Spain added the words and the Son,” to give the Son equal promi- nence with tho Father. Though the Popo at first rosiated, Onanueataone urged the inter- polation upon tho Western Churolos, and n subsequent Popo confirmed tho intorpolation end incorporated it into the creed, and, after the Reformation, tho Reformed Westorn Churches uscd it and still continuo to. Tho two great questions panding botwoen tho Eastern and Western Churches, thereforo, are, first, tho truth ur falsity of this doo. trino'; and, socond, tho offense of recogniz- ing on addition to an ecumenical creed which was made without authority, oven od- initting its truth. The Conferonce which discussed this ques- tion was composed of ropresontatives of the Oriental Church, including tho Tussian, Grock, and Armonian Churches; the Latin Churchos, embracing thous who by not ad- hering to tho Vatican decress have placed themselves outside tho palo of the Church and are known as Old Catholica; and the Ro- formed Churches of the Anglican Commun. fon, including suchmen as the Lord Bishopof Gibraltar, Dr, Howson, Doan of Choater; Canon Lippoy, of St. Paul’s; Prebondary Memuce, Scoretary and founder of tho An- glo-Continental Society; Probondary Buz Lock, Secretary of tho Society for the Propa- gation of tho Gospol; tho Rey, Marcon MacOaut, the Rev. F, 8. May, the Rev. @. E, Broapr, English Ohaplain at Dusseldorf ; the Rov. L, M, Moaa (of tho English Church); the Rey, Lord Pruner, and Master Duovsy (of tho Irish Ohurch); and the Rey. Drs. Lanapon, and Nuvm; the Rey. J. B, Monaay, Rector of tho American Ohurch in Parla; and tho Rov. Drs. Porren and Perey, Secretarios respectively of the House of Bishops and the House of Deputies, and the former Rector of Grace Ohureh, New York (of the American Episcopal Church); in all including sbout 20 Orientals, 8 Old Catholics, 20 Anglicans, end 60 lookers-on. Theso theologians, after several days of discussion, which was very hearty and enthuslastio, at last arrived at an ‘agreement. Thelr Committeo reported as followa: 1, We sgroo in accepting the eymbols and decisions da matiura of faith of the Old Vudirided Chusrhy the ———— 2, Wo ngres that tho addlttou of " Aliogne” to the symbol wan not ecctesiaatically juntidod. ‘3. We ogren In accepting tho explauation of the doce trine of tho Holy Gort which fa given by (de Fathers of sho Undivided @hureh, 4, We object to overy flea and oxprenston in which {acontained tho acceptation of two Principles in tho Trinity, Dr, Dorurnoen had previously reported a statement of principles which was rojected, Tho Committeo’s report mot with tho samo fato, and tho Conforonce flnally settled npon the following ngreoment, which was unani- mously adopted : Woccept tho doctrine of Jonanrsa of Damascus concerning tho Holy Goat, aa it is oxpresscd tn the following paragraphs, in the acnso of tho doctrine of the Old Undivided Church: 1. ‘Tho Holy Ghost Issuen from the Father, as the Doginning, the Cause, the Fountain of the Godhead, (Do Recta Bontentla, n. 1. Contre Manich., n, 4.) 2% ‘The Moly Ghost insues from tho Son, because in the Godhead there ta only one Beginning, ono Causo, by which ali that iain the Godhoad {8 produced, (Do Fide Orthod,, 1., 8.) 3. The Holy Ghost issues from the father through tho Son. (De Fide Orihod,, I., 12,, ote.) 4, Tho Holy Ghost in the image (ld) of the Bon, the iningo of tho Father (Do Fido Orthod, 1, 13), fasting from tho Fathor, and resting in the Bon as tha powor roflected by Him, (De Fido Orthod., 1., 2.) 6 The Holy Ghost {a the personal product of the Father, bolouging to the Bon, but not out of the Son, Lecanso it {a the Spirit of tha mouth of the Godhead which pronounces the Word, (Do Hymno Trisag,, n. 23, E h ‘The Moly Ghost forms tho connection of the Fath. erand the Son, and s, through the Son, associated with the Father, (De Dide Orthod, I., 13,) 'The London Y'imea, ns tho organ of the Anglican Church, gravely comments upon tho impoasibility of effecting the rounifien- tion of Christinnity by the adoption of meta- physical nicoties which havo coased to interost even the pulpit itself, and contonds that “thora must be unity of motive and spirit and the power of working togothor for ends of common interent to the united Churches,” Further, as tho opponent of Ultramontanism, which it professes to bo, it acts in avery singular manner by throwing cold wator upon the Old Catholics, and attempting to belittle tho Isbors of Dr, Dotsanazn. It deprecates the bare idea of any union botween the En- glish aud Greek Churches, or botweon the English ond Old Catholics, and closes with the nssertion: ‘ Tho last thing English- mon will part with is that vory Protestantiam, for it practically represonts the spiritual as- pirations, the moral tendoncies, the social dutios, and the idens of life which havo grown up during tho grentest years of their history.” All this is very proper, very clo- quent, atid vory true, but after all it is on man of straw the fhundercr is aiming its bolts at, sinco Dr, Dottinorr has never asked or expected the Anglican Church to givo up its Protestantism, any more than he oxpects or aska tho Grock Church to givo up its form of faith. Tho prime object of this Conference, Jiko the Conferonco of ‘Inst year, is not to in- sist upon tho acceptanco of thisor that dog- ma, but to establish some common basia of agreement which may establish a bond of sym- pathy betweonOld Cathoiicism and tho Eastern and Anglican Churches. For Dr. Dotuinorr and his little following of Old Catholics to ask tho Protestant world to give up Protest. antiam in exchango for certain motaphysical dogmas of no practical value or interest would bo the height of absurdity, but to es- tablish a mutual ground, either in dogma or fact, where all the Churches can moct and sympathize, would give Dr. Donunorn a powerful weapon in his struggle with Ultra. montanism. Boyond this we du not attach any, significance to the Bonn Conforence, Tha mero agreemont of tho Churches upon tho dogma of tho Procession of tho Holy Ghost is not of importance onough to war- rant the London Zinics in its olarm leat Dr. Dorszinarr may be undermining Protestant- ism. ‘Tho attitude of tho Zines, how- over, is suficiont to show that Dr. Doziin- oz, in his resoluto contest with tho Vatican decree of infallibility, which at least is tan- gible and practical, has little hope for ony sympathy from the Anglican Church. Its temper is shown in tho following oxtract ‘from tho articlo to which wo have alluded: “Te Englishmen couid believe all that ho doos, their temper would impel them to be- lieve a littlo moro, ‘They would say that, if thoy must bo Catholics, thoy might as well share in the splendor and tho overshadow- ing influence of the greatost hiorarchy in tho world.” ‘The New York Repnblicans mot yesterday at Syracuse in Stato Convention, and with marked harmony and good feeling nominated their ticket and adopted a platform. The hest interests of tho party were consulted in the two leading nominations—thoso of Frep- rnicx W. Szwarp for Sceretary of State, and Gen. PF. E, Srixnen, tho recently-retired United Stated ‘Treasurer, for Comptroller ; ond tho remainder of tho ticket is, wa be- Heve, calculated to condnce to harmony and unity throughout the Stato in tho Republican ranks, and to call back tho Liboral clement which strayed away in 1872, Tho platform declares for a just, generous, and forbearing policy toward tho Sonth, and o sparing exer- cide of national authority; for honesty and economy in the public service, and the cor- tain and severo punishment of all wrong- doers, with on especial roferonce to the Canal Ring; for tho speediest possible return to specio payments; for a revision of the wholo subject of taxation; opposition of o third torm and to any project for the sectarian division or perversion of the public achool funds; anda thorough indorsemont of the National Administration, ‘Tho inflationists aro doomed to atill greater disappointment relative to the failuro of the Bank of California convincing tho people that spocio is a worse currency than irredeem- ablo promises-to-pay. Not only has the failuro foiled to produce anything like o panto in Californis, but Mr. D, O. Miura, the former President of the bank, and who will be the Presidont again, an- nounces that tho assota of the bank will moro than coyer tho Habilitios, in spite of tho large amount which Mr. “Razston perverted to hiy own uso, and without draw- ing upon the new capital that has beon put into it, What is there but a sound, an actuals currency that could have averted a panio un- dor tho circumstances of euch n failure as that of the Bank of California, whose busi- ness was interwoven with all tho business of tho Pacific Slope? Did Mesara, Jay Cooxz & Co,, or Henny Ciews, or B, F. AuLEn, or Messra. Dowcan, Suznauan & Co. find their greonbacl: assets og good as the gold assets of the Bank of California prove to be? Did thoir failures affect the general publio go Lit- tle? Which wasit that was followod bya panio,—the failure of tho greenback banks or the failure of a gold bank? EE The Board of Publio Works should direct its immediate attention to tho river-bed be- tween Adama and Randolph streets, es- pecially under the bridges. There have been several instances of lato in which the largo propellers have beon stranded in the passage of the bridges, and the delays have impeded enormous strpams of business for Caen nr a a hours ata timo, This cannot happen with. out sorious loss, which tho goneral public hay to sustain, in addition to tho loss of tima }, the propellers thomuolves. Soundings should be made all along the crowded por tion of tho river, and, whoraver it is foung unecessary, tho dredging should ba made once, ‘Tho public can better afford to pay the cout of drodging than sustain tho logs in. cidont to tho Inck of it, A dispatch from Now Jersoy indicates that all tho constitutional amondiments werg adopted exeept tho clauso repenling the “Fivo-County aot,” whatovor that is, ‘the people of that State have thus promptly ang effectively nquelched tho Ultramontana at. tempt to divert the public school fund to nectarian purposes, na ‘Tay 'Trinunt: expressed the opinion thoy would. It will bo remom, bored it was only Inat Sabbath that tickeg were distributed in all the Catholio churches with the amendinentg forbidding the division of tho school fund rtricken out. As it way in Now Jorsoy, so it will be in every State wherever the peoplo have an opportunity to express themselves on tho public rehoot quention, There sro plenty of Catholics everywhero who stand aide by aldo with! Protestanta in maintenance of the American non-sectarinn echool system, ae Gov. Brveripog hns come ont Promptly with a notification to the State's Attorney of Winnobago County to vindicate the law which was violated by tho farcical due} between two fire-enting St. Louis Goheminng recently, Tho prompt notion of the Coy. ernor in o little singulnr in this, thot he should bo so fast in recognizing this ailly affair in which nobody was hurt, and should have been #0 slow in recoguizing the murder. ous affrays of the Southern Iinois Ku-Klng! atatino when thore wasn reign of terror in two counties, and men were being killed every week. It looks like straining at o gnat ond awallowing a camel, PERSONAL, Gov, Kellogg is at Baratogs, RL. Holdridge, of Paradiao, is at the Patmey Hones. P Col. J. H. Wood, of Museum famo, ts at the Tromont House, Mr, Henry, of Boverty, C1 killa black snakes 8 fect lon; Tho Duc D’Aumale Lae an jncome of $2,000,008 ® yonr,—which ho never oarncd. A. A. Hopkios, odttor of tho Rochoster Rurd! Home, ts a tate arrivat ot the Grand Vacific. \ ALondon atroct {a called after Shakspoara, and s Boston paper thinks it should bo an Avon | uo, ’ Lord Honghton looked at the planets Mars ang) Saturn on Tuesday night through tho big tolo») acopo. ' Zenabo is dead. She was tho daughter of the Rhedive of Egypt, and head-wifo of Ibrahig Pacha. Judge French and wife, of Concord, Maes, are on a viait to W. L. Frouch, their aou, on We bash syonuo. Sooy, tha Now Jorsey dofaultor, 1a said to haze looked upon Ralaton’s fato from a AHooy-aide-s point of viow. A ‘Misa Harriott Proston, of Concord, Mass., the authoross, fs visiting a friend on Calumet are nue, in this city. Ex-Qneou Isabella is to appoar beforen French Judge protty soon and pload as to her debts butchor and grocer, Governor-olact Irwin, of California, isa jour. naliat, and mado his present proud position ty punctuating Lis copy. The Rov. J. W. Mellar makes about $10,0008 year outside of his salary by oxbibiting bis mu tiff ot the various dog-showa, Stedman, the poet, is at Quogue, and fs going on to Bpoonk and Aquebogue before be ge through, ‘Thore's phosphorus in it. The Russian Minister's roal namo is actually Behichkin. Which {4 a greater offensa than th» refusal to have anything to do with tho Cea tennial. Another of ths Jamos boys has been married, his wife boing Annio Ralston. Tho amount of coromony doomed necessary its that neither tedious nor binding. Dr, Nash, of Ponnaylvanis, reports s dow ward movement in corpses; frowh specimens hitherto valued at #50 being uow worth but #30 It's timo for a revivel thera. Bayard Taylor has declarod war on the prize- candy nuisance on the trains. Wo wish Ralps Waldo Emoreon instantly to rotract that unkin! criticism he passed on Bayard Taylor. Batsoy Carr, of Claremont, N. I1., ia deaf sot dumb. With theso wonderful qnalifeations fa makings man happy, sho has lived 104 yeaa without marryiog or boing given in marriage. Mr. D. L. Phillips, editor of tho Springfell (Il.) Journal, was in tho city yosterday 2 route for California, whither ho ia taking an ie yalldeon, Howill be absent about six monte David E, Portor, son of Admiral Portor, bs eailed for Egypt to take a position on tho Kh» diyo'a ataff. Ifo'll havo an American omy timo, and thon ho will call himaelf freo and dgtt it out, The fate Carlos Pierie, of Stanstead, Canada in eaid to have been the possegsor of th> mant script of Lincoln's Gettyaburg oration, Lis pe pors havo been soarched for it, but to no pur oso, ‘The friends of the Rev. C. W. Wandte will pleaued to lonrn of bis esfe srrival in this city, aftor o long visit iu tho East, ito is much bottor, aud will resumo big work {n bia chord Sunday morning. Mr. Goorgo F. Williams, tho nawsboys' friend, and ex-city editor of the New York Zimey, Is now monaging editor of the Merald, Ile linx doot more for tho poor children of Now York thin any other porson, and ta fairly worsbiped by thom, “A consecrated terpla of reconciled occlesiae tical onmities" is what Doan Stanioy calis West minster Abbey, If there should happon to to such a spot upon the surface of this planet, by all moans let tho world’s milllona know it, Wut Stanley is wrong. In St, John, N. B.. tho citizena recognize poraenet bravery, ‘hoy have just presente atriok Cavey, who saved s drowning beer t aud Albert Atkinson, o brakeman, with » 60! watch and chain oach, And they are proud of thei rowing mon, too. HOTEL Auntyars, Sherman Uour—P, A, Wooley, G: Morrix, Toledo; O, I. Maldwin, Bt, ter, Boston ; William Wallace, St, Pa fame, Cincibnati; Frank Slate, iochenter: Harris, Philadelphia; A, B. Goon, Oberlin; Jobe Pitaburg; Pd, Towlo, lowe: J, N. Shall darger, Piltaburg ; W. D, Crooke, McGregor j 3B. Ni Champaign; Josoph Itarris, Philadotphts; ‘Frank 0 tons Wa. Apains, A Biolih, ., hago cat which Portemout New Haven bi » Dubuque; Jolin Lail, Lafayutte; owece Fee ee Rea ew York 1. W. BHO] 3. '. Stull by Arebibald Kerr, ‘Kanes ‘I. Holmes, Pbitadel; bis} #. A. Bmith, New Hs ¥, Dicktuson, J, ton; A, Siuimons, Hallinores J, D, Hanmiond, 2e¥ York ; ¥. Stlodinghous, St. Louie; Witla Av th ce Palmer iHouse—! erwood, Boston ertuinol, Califor Frederic! Louls: 0, P. Prideaux, ‘ 3 Tittaburg; Claude ze Meyers, Now ‘pees , Minieapolla: George eee ivatd, Omaha; A, Ruse: Now W.B, Duulap, Mattoon; George Milburn, Fred B, Kellogg, Yooris; Gcorge W. Flower, town ; Jumea 0, Joos, Tudlapapolis; Emery C. Bostouy 0, O, Herring, M. O. Conway, Cleveland; Sawucl L, Mather, Ohio; FM Hiutato; ‘Promise Gale, Memphis E, 2h, Ballens, On, Pome L chsestock, Toledo; P. ¥, Dishop, 540 Bia; 6, Woolwrgh, Sandusky. family 3