Chicago Daily Tribune Newspaper, October 23, 1875, Page 3

— NEW YORK. John Morrlskey ns 1 Commentary on Ropublican Institti= tions. Tho Tall Tower, the Young Editor, Are okdian Editorials, and the Psendepigraphists, A pBaromecidal Draught---The Inseruta= ble Mystery of {he Two Diy- - repulable Sonuets, Epecial Correspondencs of Tl Chicago Tyihmne, Kew Yonk. Ocl. 20.—~What a commentary TUE TION. JOIN MORRISBEY is on Ropublican justitutions! Prizo- hlgr, gambler, snd foremost Democrat of tho Lmpire 0! '}: wili ot do, howover, to find fault with Ttg- ablicsn mstitutionn Leeauen oceastonally thoy Firn up the Jnck of Kuaven for tramps. "Uhey fave wade us what weare,—the freest, happiest, and mos! entorprisiug peuplo ou tho faco of the be. lzI?l'lu riee to powor of such men as tho Ion- orablo Jobu, distastoful na it is to the averago citizen, is, 1n foct, an indox, though o diwagree- ablo one, of tho personal ecopo and possibility of each individual. In no other country i it o for ability to assert iisolf, aud riso Lo what- e eatinenco It s tho eapacity to rencty, il, the Ilonorabla Jol has qualities to Aftee all, tho I Lla Joh | lith admire,—pointa of claracter that nerve to miti- palo the disgust one naturally feols in contem- plating bim as n logialator u';ul pv:linc{\l lcmhls’r, .t from hin profession sud antecedents, bLa :‘l’: oo tterling viriues,—at least, ko [ om told. Courage, nhili(y.' ]lclflfi\'trm;l‘m nlnli l:;lell:y to friends, would win cdmirera for tho dovil. Mor- sisscy in cextainly lesa contomptiblo than way Fick, Jr., sud his examplo is less pornicioun ; sad, if tho popular opinion Lo correct, Jay Qould {soch mennee. Tho public can novor overlool: 1t fact that tho latter ia o eucals, nnd gives away Lis friende—or did while ho l:ad any, Kpeaking of Jay Gould raminds mo of THE TALL TOWER, Whyitsbould do so is obvious enougn, Tho rival New York dailies havo rung tho changes on the Tall Tower, tho Young Iditor, the Z'vibune bar-room, Aud Jay Gould's interest in tho Tribune, untit the subject is oxsutfliosto and g-blown. ; Thomanagers of tho Tribune mado a mistako Iosseuming such a proteutious tone afier tho desth of Loraco Greeloy, ‘Thoy branchea out in various ways; advertising us the leuding tean newspaper ; arrogativg too mueh; as- Amer D sumiog a-eudden Iargences of manner, na though they bad gained netoad of loat by 3lr. Greeloy's death. They should heve waited, nug shov what thoy vould do to supply tho immenso vneu- um holeft. Unduo protension. alwayn {uvites ndiculo; wnd 8o :ho other %m}:cs hn\-ullmd o lac;: to bang thoir mnlico on, eud Lave not spared Lo 2 1t nlt was a gricvous fault; and grievously bath Caear roewered 1l Whitelsw Reid ins givon tlio peoudepigraphisty scbance fo saddlo him with o psoudonym that will Jagt until the busy thouphts of the Powerful Sind shall l}‘:rlo silvoled tuc bair of the unfortu- oate Young Lditor, - (1 bsvo beon teying to wiito up to that word AeEUpEn R s o for years, nu ave uever before found a chagis to brjug 1t In with propricty, If 10 I8 ub- jected that tho word will not be generally ntder- #:00d, I can ouly roply that X ceunot turmsh big “Bm:’ :‘udh' v:n)z;y:h Y ‘g. c‘vlv’nlprnl‘mml"tt‘n::ux alao.) ut the New Yotk Lribune, for all the sngors of ita compotitors, is & mroat newspaper; and the publie tahlo aud public morala would bo fni ved if the Sun aud Herald, instoad of sneor- ‘gg, ‘l:m[j efinmm ity exawple,—Pastoral Edi- rials and all. Is thero a0y menso in an srbitrary rulo thet would exclude ¢ssayson buman 1ifo from tho cd- lorial pages of n daily nownpaper ? Tha edite- d;l.hlnqt]ucauou n‘rlc crhl?rlmingl,\-l written, with 4 dash of bumer nud a fidelity to human nature 1bat make thom raadeblo and enteriniviug, aud Lo lessons they tonch aro wholesome, 1f Rotie of thaother Now York dallica would orr on tho sido of Aroadian purity, fustead of lenuing to- wu;ifl‘)m‘l;wnz eo::‘u:xtlnunhsm n‘lini :nlxrl’nl per- tanality, thoy would do more credit 1o Amorican Jourvalism. Lamawaro that I am growing tedious. 1 will TAKE BOME REFRESIMENT, sud endoavor to bo nioro entortaining. A prin- ?'I‘n‘gw euhoustte, whoso ancestors ndored thoir 8 Where Afric's sunny fountaing Roll down thelr golilon swntls, standa docilo at my olbor. ring me, Guiseppo Boceacio Johnson, & pint of Pleasant-Valley Great-Weatorn! 1f its doin- 1y sparklo does not exbilarate wy fancy, I must Eive over. witing for to-night. 1 tho fosming sunshina! The hnfghtnen, and ug beauty, and the subtle porfumo ! s but the ctystal’ de rim, EXelt thackiv rond e dowing clialo, Bprings like s bubble from the brim, Aad walks tue chambers of th: Lrain, Tha grapen grosw silently on tho vinea all throngh the summer, and gathered unto them- Belves tremsures fron overy pleasnnt thing ; the fragrauco of flowera ; tho purity of dew-dropu ; tha beauty of wkics, and ebowor, aud rainbows | fl‘e‘éfi :n;l wn‘n:mi xLl u',mfli'fix d:yu i :léu dreams nd quict nights, Vhet wonder, when A1l this Lias beon 8o Joni imprigonod, and js at bast Tet looso for me, that it should sparsle, aud fxeh. sod ehimmer in the glaes, ud givo (o 1o [\ 'fil::;::idlfml awoo‘L hupn(mum 'u; ; rowm such o fouut “of inepiration, I $hiuk I may veuture £0 approach tho mubject of The Blflnscmmbln Mystery of tho Two Disroputa- @ Boonsis. Ihavn't (The above 1s all flummery and airs. tased charpagun for throo monthy at loust ; ‘bfl;; :isu ma! ono must have momething to writo The question was ; T WHO WBOTE THENM ? Citg. orero road before tho Drookiyn Faust b, and recoived with igscs, tears, and laugh- : f. Ihey wers signed Falstaft ; but tho chari- ‘Elndlm Of the fevicw, whilo acknowledging ninbm de plume, denled; their authorship. : %mys(ur_v of their parontage was of pisce b tho dark traditions of tho Iron Mask. Mr, cbpr disclaimed * thom, Kinsolla ajeowned w‘lm.‘ 9ad Churloy Parsons. ropudiated thom, b Whitman was writton to flum them, and ngllad 84 followa ; ¥ o RFzizer Within Me, latilude widens, longi- :‘;uu;mcml ALl waved, wud soily, and eatii My, 'on Btz Ble, i thio wako follbwing, "I am fof Mg Eanoonuy, elbowing the Eternitins; sod Teison (g THle BouLiGts contaming oltbor rhyme or b, BafopsporMiblel” Uncomformablel. Trrefragen By WALT WHITMAN, L was evidont Ae didu't wiite them, o UL INQUIRY {ieadsd to Now York. Tho Youny Editor, tho lndx‘b'n Journalist, tho ~Poatical Drokor, h:owle Litoracy Btock-Operator, all denied any o ledgo of tho matter, Lotters wera sent 1o u.."-‘ 0%, Whittier, A. Tonvyson, aud V, lh::' but, lm'r Aome resson or ebhor, none of - e noy reply, 5 !D;aa Altred Yawnsond was then writton to, “m.lmnunnawpngl suswer was received by re- i ail, elatlug that, though Lo didu't Know foos lll‘wul tho subject, b would writo three or pars, 18 sbout it Lo "seve difforont NOWHDA~ fariy ‘;‘ lflmn 28 ho hiad fulfitled his eugagement Mk ‘nw York Urntlalo to visit oloveu difter- :' tan puronal gossip in t “.0 8,400 differcut {wubllu charactons, fiad o oue of thoso thlngs that o follow oan ot Aud tho inyatery woe dually rologatod “unml»n Ot untatlomablo occultation, 0 whies lict Lo you ny specimony of the length A 8 diseasod imagination will go. ‘fhe " st wtudy qui, for bimeelf thp P Lasect 15 whjol, such souget alludos. Brown duag, 'h'uguxn No, 1, 3 oviug o' — Yors awifly v that Abger sl P oncase: e uld X wight belung uuto thy race, Withort DY 13dy's couchs 1 igiit comb to, Vahogien sia ar aught of ovif thougi, > - Ungy o LBeatl Ber pillow sl tho day, A 0l erEe0l, bifnsful roat shio suught, Ah gy o6k Whitie, Wwect bady therein Jay. How b Y0t auguory thrilime au 1 this Vit ooy Limea T con ber beauties o'er 3 eilght her rc yaria biod T4 drink, ¢ tutued and «rushied mo sore, pontent I'd bo with auch an end, 1 wigee " 3 odarous death and dedm it Lliss, ular & BONNET NO. 4. ‘P{:}m hn’ art thau to Lidy with me L Now I Bave theo! Nuy, T have (hee not n rmatic fuscet, for Wiow migh ot b o by fiat Ut tho Fautes srilie, 1 wot, J 8ol 'at though not tny lovey rnlr. bug, I awear fill:; 18 4o awcolest ortal vver sesu Aud bewilderingly far, glwmm.a:l dtlulhflno-agauud, radiant queen, . o m-nhnalun emure v, innocent ! Ho fondly true 5 50 Raaant 107 Aciatta | B0 guod 1 Ko pss b And, i, then G Were 1 n Puler arrit Nor bolis for bare e ¢ frum her i ! Kineo witing the abuye, I have recelved the following noto Dian P ieh wpeelal cliances, too, edra tho autbomhip of {1 1 ¢an only etate, In vallistion of in ofieurs. Inboring undor tho nfluonco of an oye elutbe, 50 (IVIng rein to Apliodis warning againt indulyeace With feclinun of deep compunct moreefully, Fatsiare, Tho mystery ju golved. Tam thankful that 1, al least, nm relfeved from tho atigma of liaving wrtton them, T'ELrG Ankwiiant, fancies, and m eve 0 pernichy un Levers, b, I remain yonr AN 10WA REMINISCENGE, The Credit of That State Twenty- Eight Years Ago, Mr, W. F. Coolbaugh's Mission to New York in 1847, Tho Buzlivgtow (In.) Hawkeyr 1o publishing sowo valuablo reminfeconcos of the history of that State. Tho followiug paragraphs show how Western erodit was regarded only Lwonty-eight yeara ago, Wo ndd an incldent as rolated to us_ by Mr. Coolbangly hiraelf. Thio * freczing politencss " wpokea of below on the part of Mr. Ward Is in proper contraet with the amazing ignoranco of that ditinguishod finon- clor. Atter Mr. Watd had run his oye over Mr. Coolbaugh's letter of introduction, he lvoked uwp With an gir of virtwous boe wilderment, and gsked, **I-0-wali! J-g-wah! Where i Lo-wah #* Tho information kindly offered onty produced tha *freezing polito- noews™ alovo referred b, Could Mr, Ward have 1 in vision tho proud war-record of Towa, aul hier independent livancial position,—having achioved in only twenty-cight years one of the very firnt positions sinong her sister Stuter,—lio would doubtless havo been profoundiy dingusted at hiv own ignoranca and stupidity ¢ Quito recently, Mr. Lyman Couk, of Lhis city, Dresident of flie First National Hank, whils 1unnaging over woma of his popers nud docn- ment of years gone by, found a lotter, which we xivo bolow, wntton il New Yorl by his old-timo triend, W, I, Coolbangl, now Prosident of tho Union National Bank of Chicagzo, It is nu iutor- eting lule belweon the past aud the present aud serves Lo iliuetrate not only the wouderfal grosth of the Wentorn country, but aivo pives U curiows Insigzne nto somo'of tho diflicultion eucouutered in commerctal transactions in those days: Nrw Yonx, Ma, heraon dinday T, after a st Liilindelyhis, durtng endeavoriug’ to ubiain th $33,600 wanted by Lowa, bt T umorry to iy, without Juuch succens,” I find il umouy Eawiern moug; ed wen tie prejudico Ing agattst uil Western plocks detors them from vestiug thelr motiey i that woy, In fact, the ditticy ty exiatingt in the way of uldafuing tho thonoy 4 trely nore fnsurmonntehly hun 1 supposcd, and, were T o make up my nind now, 10 nducemit cottld urge mo to have unything to do with the 1an( ter If 1 eventiully vucceed iy getiing the toney, 41 ehothl lave to pay i ralo of interert greater i is paid on the mont ungucstionuute ueenity, it will bo ‘churged by somo Iguoramusen, who e o no veanon Wwhy Iowa should' uot borrow money an low ‘on New York,—that (heen wag collusion between e wnd the purttes Joaning the maney, whilo I T fufl liogether in getting th ¥, {4 W1l o kard that 11 wak [OF want of Hoceasary L Tho objectiun urged by moat men horo § fhat £owis 19 o s Blate, ind ws lier. eredit in yet (0 Lo entabiishied her mtocks could not be bought and eold i tho “market us Government or other Kocks ez, Ohers may ngaln that (b scems odd that new Stare should want tonoy fn the very tret year of ber ezislouce, Ju fuot, overy possiblu objeetion In urged dn overy pokeiblo Way, nnd it ia eaxy 1o Hoo that 0 LYstax I arvived reveral daya Iy wan oceupled in * fowa slock " [n regarded ‘very suspicionidy. T am, Bowaver, loaving no stoua timturncd to ratso the money, and llsortx of appliuuce (o bear, Wery it not for tuy privalo representations and catrcaties, 1 conld 2:0t 528 any ono to nutice the ivan in 3uy man- i dn Philulelihia, without £ uable rate, ‘Thic'best offer inve st bt to {eko the foan was ot 10 per cent whiln in Plilidelvhis, ond thin from privale ndividuate, ou Iy guarsnies of thio payinent of (he inlercat, ¥ callcd ou Johw Ward yestorday, with n letter of jn- troductivn, {u hoped tuut I could funke nn Snpreesion on bir, but o via fxcezingly iniferent. I hnve of- fezed 10 tako 7 1 oF cent and “pay futerest semi-anniile Iyt New Yorior Puiludelphia, 1 Laught tho tinute, &c,, for sour order yesterday of Phalys, Dodyo & Co.'s tho plats T patd 950 uet. tor deliverabio fu Now Orl hich they ‘Will_order shipped in c: Jamuary & Muckes, thes are pell- Ang 1t Iiere ot §9 et unid, an frelgut 10 Now Orloans fa very algh, 1 iound that i would bs chraper to tak it {n New Orleaur, - Phelps, Dodge & Co, have a depot of Hn plato thore, It Is warrauted (0 be of the boat Quality, - Your bill comes (o over $1,000, sum ior the tin-house, Common iratd of plato can be Lought at $3.50, hut presuming that you wanted tho et kiud 1 bought it. 1 ohall endeavor o get awny from hero somo time tiufa weok nt furihieat, sanoy or 1o moncy. Wheat, §.15; corrl, $1.207 flour, $), aud prices like- 1y o keepr up. ' Very reupectiully, W. ¥, Coornavai, This lottor presents quite vividly tho differenco Votween the credit and Huanees of lowa twenty- elghit years ogo and now, 'Tho ftato had jubl been orgenized. Sho hod been aduntted on con- dition that £ho should pay off tho old Territorial debty, ana for this purpose cmongst tho first ucts pustied by her tirer Legislature was ono au- thorizing Lho” nogotintion of & losu of $55,000), with which to discharko that indobtedncss, und run the machiuo until romethitys could be rafsed Ly axation. Nr. Coolbaugh was doslgnnted in the ace us tho ageut of tho biate to negotinte the loay, aud swus wuthotized to wako the Stato Londs, which Lad been priutod in tho oflice of tho digsouri Republican, aud which he curriod with hit siguod v Llsnk by the tGovornor and Stato Auditor, payablo at any timo ho choso in aut moro thon twouty years, andto draw interost not oxceeding 10 per cont, 1o very roluctantly nadertook tho Job, and flvally, after auy number of disnppoihtigents, aud iy nmount of snubbing, succecded In bore Towiug tho monoy of private individuals, pare nt 8 uod part at 30 percent, on ten yoars' timo, giving to tho partics the first and only bonds of tho sitata of lowa,” aud in addition thereto lus pursonal guaranteo of tho prompt payment of the wtcrest, without which ho found it impossi- blo to borrow tlio taovey, ‘Lo bo sure, iy per- sonal guarautoc it thowo days smounted to httlo, —probubly not moro than 310,000 or ©15,600,— but it turped tho sealo. 1iecems like o dream wow, and sounds like o flsh story, but those wera tho duys when Illinols snd 3issouri hnd dofaulted, and their bonds wero soltiug at 20 to 40 conts on the dollur, and the mouney-kinga of Wall atreot looked with coutompt on the Great eal, The «“John Ward" alluded to in tho lotter was then the Gieat Mognl of Wall street, lio was of tho honso of * I'rime, Ward & King," then tho recoguizod Itothachilds of America. Ho bowed out the agunt of lowa with the most freozing politeucss from lus private oftice, with tho gontle remurk that the man who would at- tempt to_borrow £55,000 in Wall street on the bouds of Town must Lave & good deal of cheek! Tho times aro changed now, Mr, Word iy no lougor tho arbiter of American fluanco. o hos passed fu his checks in a double sonse. Wall #treet would bo ouly too glad now to tako the bouds of Iowa at par and ut a loed rato of intore ent thau waa paid on the flrst isene. Aud it would also tuko tho paper of tuo forntor Fiuan- cial Agent of Tows, sud would nob look wpon nm s particularly **cheoky " In offering ib— and it 15 with o justitlable local pride that wo add that tho recipient of Mr. Coolbaugh's Now York letter, Mr, Lyman Cook, who \as then thought to have “dup!md In doop™ when lo bought £1,000 of tin plate, could go on Wall streot now with his own paper and meet with a much botter roception thau did the youug State of lowa 1 1847, ¢ Mr. Couls thon Lept a tin-shop on Jefferson strout, and his financos huve Lod & *metallic ring "'to tuem ovor sipce. ‘Llio tosult of Mr. Coulbaugh's ssalduous ef- farts wou tbe tlual nogotiation of the bouds, and tho money was safely placed in tho Stato 'I'rops- ury, $10,000 jn mivor (Moxicau dollurs), £40,~ 00D in gold, and the balauce in notes of the Stute Bauk of Blissouri. The noto boro a likenves ¢+ Old Bullion," which stampod it oy legal- teudor with au Jowan, To say that Mr. Coolbaugh's roturn to tho Btato was hoiled with groat rojoicing i putling it very mildly, as all old wottlora will romembor, It removed overy obstacle to Iows takiog ity place oafottcred in tho great guiaxy of States, sud (o set in motion all the mrehiuery of local goverument and industrisl sdvanoemont. 1f wo remembor rightly, lowa allowed & come mission of %200°to the agent for ne- otlating tho loan, and he thought it a ibora) allowanco, It would bardly suit & Heary Clews or & Jny Cooko, In thoso modern times, and wo don't know but just there 1s whora the old-fashionod folka Lave goi s hulch ou ug youngeterw thiy timo; but theu they had no tolographs, no Duily Hawkeye fast traing, no LazKow wauges, no safo national carrenoy, bLe- 8idos & groat wany other things in which thoy were deliciont, which go far to lovel up tho dif- furanco between tho rospective ago ive each #g0 ity duc, and even iu these *good nuw tiniou ™ thuro' i & quist satifaction b turuing over tho **sero pud yellow leat" of tho literatur oud correspondenco of other days ang hunting for reminiscout troasurcs which” eratwhily wery a8 vital and portivent to the bumau raco ay grp Ao Lrouhs ocoucxonces of ¢Lis gooeraion, - dvertised tho bugers ul any re Now FALL RIVER. A Contest Between Labor amd Capital, The Employers’ Viow of the Recent Strike Against n Reduction of Wages. Sketeli of 1he Rise and Progress of a Greal Manufactoring Town, Sperval Correspondance of The Chienao Trilins, Mars, Oct. 19.—The disagroe- monty hotwaeu tho manufacturors Lioro nid tho niill-operatives, swhich bogan 1ast fall, and have uow reached & flunl scttloment, fuvalve nearly il tho points at Isauo botweon Labnrand Capie tal. Nover beforn wero these two eloments Lrought more sharply i opposition, aua‘seldom has mny contest aswumed 80 many differcut phaats, NIBK AND GIOWTH OF TIE MANUFAUTURES, In the firat place, these wtlia are owned by the manngers thomselves fu a groater nroportion than any other mills In tho cauntry. The found- erd of this groat industry woro Holden Borden and Bradford Durfoe; and their descendants Liavo nover disstpated the wealth thoit sucestors left to them. In 1813 wos Lullt the tho " Troy Cotton aud with 890 apadien, But, for a loug tine, tho growth was very grad- ual. From 1810 to 1820 it wos but 208 souls; , In 1870, fifty yoars later, thero werocightoen incorporated companies, with n capital of £6,410 + 000, and 698,148 wpindles. Tho population was thon 27,191 Dut. iu 1872 alone, elevon laigo mills wore eracted ; and now, tlve years later, there ara thirty-four mill, employing 15,000 hauds, using 180,000 bales of cotton yearly in tho manufacture of 330,000,000 yords of cloth, and paying out £500,000 monthly in wages, 1ha populution is about 50,000, The two men men- tioned nbove bullt tho first mills and managod them. “hey paid no largo malarioe, lived cco- somically, and turned their mouoy over and ovar, ‘I'ake tho singlo intance of the Fall River Tron-Works. It was started in 1821, with e copital of £18,000,—the Company control- ling tho wholo wharf-frout of the ety About 1847, the Jlotacomot Mills, which lad luthorto boen managed an a branch of the Tron-Works, having been built with thoir monoy, wero sot off a8 a distinet corporation, snd £300,000 in stook 18- sued. Lafer ou, tho American Print Works woro establisbed by the Iron Works Compnny. This corporation outgrow its accommodations, and buitt one of the flaeat mills in tho country, coat- ing abont £1,000,000. Loforo they Lad insured it, and when it was almost completed, It way burned. and the losa was slmost total, for tho mill bad to bo built up from the foundstions, Altor this, the tas-Works and tho Providenco Steambont Line, whiol wero offshoots of tho Iron-Works, wero et oft asdistiuct corporations, and stock lsaued. 'The Iron-Works themselves uow employ €U0 men, and pay out &30 in wayes munthly, 'They bave €1,000,000 capital, and havo paid out ovor S1,000,000 in dividends, All l‘hhs from $13,000, without & penuy of asaony- mant. FAMILY-OWSERSHIP. S0 mueh to show tho otigio of the I'all River industries. To show Low the ownership of theso mills hay been kopt in the family: Thom- an J. Borden is tho largost single osner, and is Troasuror of tho Acchunics’ Mills, Trensurer of tho Nigkinrd Borden Manufscturivg Compsns, mhich in owned cntiraly by bis family, aid ‘Treasurer of the Troy Coiton and Woolen Man- ufactory, which has but fourteen stackbolders. Tho lasl annun! maoting of tho latter Company lested but ten minutes, dunng which tima ail tho business was transacted, and tho dividond paid. Ono yoor during tho War it paid 100 ceut dividend, and carried to surplus fund & 000, Col. Bordon {s also e Director in two of tho buuk hore, the. Old Colony Railroad Company, and the Old Colony Steamboat Company (Fall Hiver Lino). His brother, Hichard 1. Borden, is Treasurer of the Aunawam, Crescont, and Motacomot ~ Mills, Thero are slso two othor Lrothers, who ure parinors in the rolling-houses in New York ond Phila- defplis. Theso gontlomon are mot only Treasurers, but soliiug agonts e well ; und thoy do for §5,000 & yeor wll tho wark for which eimilar oflicors “at Lowell or Lawrence mills would recoive £30,000 to £50,000, It is bo- llevad that 02 per cont of all the stock in theso mille is owned u Fail River. It is mnovor sold on the mariot: snd, whon now mills aro atarted, the books nre scldom open for loflf- eight hours, Of tho mills recently orccted, in moro tlan ono easo all tho atock was subscribed for 1n less than two bours. TUE MANUFACTURERS' 8TORY, I shall now procced to give the manufacturors' story of tho lato diflicultics : Up to a recont duto thero bad novar been any serfous trouble with tho operatived, aud thie rato of wagos lad boon very steady, But tho mapid growth of the manufacturing outerprises, and tho constant introduction of new capital, brought with them competition. No longer could ono wau raise bis hand and stop every loum in Fall River ; aud, with now mills, at overy dvidend tho holp Logan to fool their power. Every now mill must have oporatives, and skillod oporativas, too. 'I'ierofore, the nec- eesary consequances followed, Thero was jenl- ousy hotween tho mills, and tho now Companies enticed tlie help away from the old once. Lhere wero no Unions thon. The operatives had only to chooeo which of half-adozen mills thoy would enter. Agonts viod with esch other to sco who shoutd best treat their oporatives ; aud every uow mill was suro to ercct botter tonomeuts than tha last oue, Just about this timo, howevor, thers was an arrival of Lnghsh workmen, who soon gained quito an ascondancy over the help, and com- meuoed ngitation against tho omployers. Tho tirut point at imsuc wab the Ten-Hour law, Of course tho mamifacturors were unvnllua‘; to adopt it unless ity enforcenont was universal. Nover. thotesn they yielded, and actually ran but ten bours o day x%r voarly o year, while ail the ather mills in tho country” wora working eloven or twelve. 'The great disadvautage at which thoy woro working 18 avidont, for thoir profits wero necossarily 10 por cont loss thaw thoso of a mill ruuning obe bour longor a day. Thoy then co- operated with their employes to socure a Ton- Hour law ; and in the Legislature tho singular spectacle was witnessad of the enorwous capitll of Fall River working with tho oporativos sgainel the combinod capital of Lawrenco, T.owall, snd tho other largo wsuufscturing contres. Tho Ten-Liour law onco passed, pricos continned to deoline, sud divideuds went down to nothing. Manufac- turcrd felt that wapes must be reduced, —but how to doit. ‘Tho mills kua boon working #o long indopendoutly than combiuation ssvnied practi- cally impossidld, Even in tho midet of tho panie, Honio operativos who wore working on looms of au oarlier date, und could not miake ns much as those who were using newer machinery, wanted moro pay, The mauufacturers promisod to make it all right whon timea jinpraved ; but the opera- tives would not wait. ‘The Union was called in, tho looms wero etopped, aud tho manufacturors ocotmmelled to yield and pay the advance. There wag 1o Unton of manufacturors ; and no soones did thoy concede this point than the workeis on tho mow looms waoted as much ns thoee who wero working on thoold. ~ And thoy Kot it, too. 'Lhicso concossions wude, the next atep of the Union was to suy to whom snd Low Koods could bo sold, I'rices kept on doclining, sud at last the mills wore coupelled to stop 40 avoid serious loss, or olaa roduce wages, 'Who munnfacturars docided that thoy must combine u; ngl cowbunationy, aud thoy formed a Board of Lrade. STBIKES, ‘L'lio result was, that tio Unionordered a strike of the weavers in threa mills, and lovied n tax tho actiyo Jooms in the eity, Thoe Boerd ada met tlus stop by paying s percentage to tho 1dlo wills to induco thewn to Lold out, Thu was io January, 1875; and the reduction was from 37 to 2¢ centsa cut. Print-oloths were thou from 5 to $3i conta a yard, and cotton sbout 15. The “rosult proved that oven then tho operatives wero too stroug for tho Doard. = ‘Tho prico of cloth weut up, and ouo of tho mills virtually suereudorod. Tho resuis was, that tho operatives went to work i ull the mill, with the distinot undervtanding that the cut-down should bo rostored altmost im- mediately. Tu less than & wook after rosuming work, 1n tho vory mill that first concedod sheir olnt aud gave thom victory, tus Unloy orderod four mon (0 guit their wark without the sjightest wotce, upen a misuudarstanding about 4 conts a day in thew pay. 1t weinot s quarrol, for the munufaoturer would gladly bave givenit to thom, 1t was simply s misunderstanding, aud it cost the employer over £3,000 baforo he could get hiy will ju workiug order sgaio. ‘Tha temporary rise iu pricos lasted bot & few woaks, Al thou Dilate went, down. o than over, T ention, of the mannfact tivew' vell-grantad mll-ownery shoy idleneex to an end. e to return, they wern met Tith conditionn, whicl, {0 reduico thom ta & mlavery worAe than that of thie negrons, ey ntartod tho millp, it wonld be for the bonagt of the workmen : that the: conld not oxpoct 1o uot afford to rmn the risk of starting o) machinery to have it stoppe! at auy time whim of u dismatinfied ope: Aaid, “Thoy mual Lie zllowel o control their the lost Livo years, A Letter from David Potter, £ DrAn Bin: 1t ie not necomary for mn U fuform you {hat an nterustional exbibitiou of the pro.ducts of ail natlous, commenmorative of tho completvy of the irst hundred years of the United Statos, un & nation, will open in the City of ihiladelplin i May nest, To e fiprossion somo an_entiro carpete), notto participte, For whiat Jducement, $ has ocn cauntrica {0 send Lo the forelgn productio imponta {mposed @olely with a View to roveuue, with tho prevaliiug prices’ under the exiating Amorican tarl'? Tu shiort, { have no doubt that, by s judicious sliow of forelgn’ commoitius, bearing placards ntat- iug clearly the couditions and cost of production, more can ba accomplishied §n & winglo soason in edu. catiug tho American people up o & clear perception of the fmmense beucfils coriain to result from oo unreatricted commerclal intercoureo with forelyn na« tions, such ss nuw exlsta between the separata aud industriliy-divervo Hlates of thy Uniou, tusu by been achioved by all that hos been written and il on thin subject in this country during the last quarier of & eentury. 1 upon the members of flio Celends of ceonomio reform where, (lic importunce of urglup fordgn munuface turera to soud to the Il ouly 8 full and Lypical awiortment of theie toapect: tivo products, s Ls propared, thierewlth, 6 clear uud auccluct etatement of he price ing to tho people of the #gutico aud nbaurditien of their exiuting tarim ozample of what domo of the pusty rhooting ab it, The manufectirars sern visited in Leinig whgeea, conridering e h re istan - votdably : atud the operative voted 1o take 4 va. Thig wozement gtrertheons 1 the Uion ey and, when U ope AL1ON AN L) s e, U A dingration 1o brive e Whou tho apeoratives want. tho Ieaders of them ray;, auaed Dut tho ownars contondod that, -\t wake anytling for thamuclven : that they o “ive. Inabort, they own capital. ‘Thio tertan warn open b accept. or rofect: thero was 10 comuilsion ; but, upon any othier tormw, tho Iaborer had miore power nver tho capital mvested in the mill than its owner, 110 could make it nnproductize at a moment's 'ha profits of the mill- at tho present rates MiAL—pRY the mtnnfactureri--be uothing, PAy a G-per<cent dividesd, taxew, {nenrance, sal srics, and wear-andtear, a 1nfil must nake- thoy ealculato—a 1ot of o cont a yard. Print- cll{mm are now worth 41 ceutw o yard at L'al] tiver, A tranneript from one of the” inill-booky ecoud quarter of tuis year givea the 4 tho cout of manufacturing oue yard 01,470 na; U4 BB “Thin whows that thie actual cost of making r ard of cloth, iu June, wan 4wl moro than it kolls for now. ~ In view of this, tho manufaztur. Hupphies L. o way that **Never fn the kistory of catton. manufacturing has #0 largo 2 proporticn of tha totnl raceipta gono to thu opcralives s8 duriug e TIE PHILADELPHIA CENTENNIAL, A« Wells on Forcign Exhibitors. The following letter, addreseed by one of the leading ndvocaten of tariff-reform on this side of the Atlantic to Thomas Barley F'otter, Hecintary of tho Cobden Club, receat leading Englisi papers appears in most of ihe UKTTED BFATES, AURNRL, 105, —To Thoman Uasley Seify Mo Iy Hunorary Necretury:Cutiten Clisbms present aud cobtribute to this exhibition, an invitation ta tha peoplo of all counteics baw heew officialiy extend- ed by the Freaident of the United States, sad fron Great Britain eapecinlly, by reason of u cotamon blood and cloee comimercial fotercourne, a cordial response has Leen antlcipato), "An fupression, Lowever, pro valla fn the United States, that forelan manufactirors, artists, and artisaus are’ not disposed o cantribts of hetr products to hls Exbibitlon,ot due, doubtless, in jpart o recent remerka of ' Mr, Brid, and alao 0 tlio circumiatanca that, u at l-ant oce. 1 uas of Engilsh’ manufactursre (Englih o copsidared and offictally determined pertinently asked, can bo offered o citizens of oflier Uuited States rpecimens of tlelr skill, exoellence, und ehwauess fn production, whon e lawa und fiscal policy of tho United States havo for years beeu upecially framed and maintained witha view of excludiug these same products from thelr markets, and also from preventing thoir owi citfzeus from taking sdvantage, through tlio roclyras cal exchange of thuir domestic producte, uf thiy seme akill, excellence, or cheapnes, But, pertinent, undoabtediy as is this question, and diMcult as {t certainly must be fur auy cltizes of tho United Btates intereated in tha Exhibition 1o satiafuce torily answer it it {, nevertlieless, my opiniun that foreign munnfacturers will mako a grievous mistake (n withtiolding thelr products from the Philsdelphis Ex- hibition of #7603 and ths mors 0 tho United Slatos “ Centetintal " than havo cxfated in Ihe cane of suy of there aro iu some respects oven, for thelr rontributing to eut_rensons, tho prior European International Exhibitions, For what better opgortnnity can posai- bly e afforded to s forelgu manufacturer to convinee A Lanighted people of thie terrilo ecenomic blunder commitied Ju_ restrictiug cxchauges by on ex- travagaut, prohbitory tarif ~ on ~ imporia than " to publidy contrant the prices f froo of duty, or under miderate Through yon, tlerefore, as en Club, 1°desiro to impresa Club, and upou il in Europe sud clre. crotaty of the Col ladelphis Exbibdtion not but that each oxbibitor nlso canso for exhibitlon or genoral distribution At which his goods are now sald in_thie United Ktates ondor the existiug Amerlcan tariff, and which they could be sold for it gold If allawed tniportation freo of duty, or uuder a duy of 20 fier vent ad valoren, To do tlils, it will not b necessary, In_my oplnfon, L0 ol tain iy oflielal authorization in sdvance from fho Directors of thio Exhibition, For tho fundamental iulen involved 1u all Tuduatrial uspecially thoso of an fnterntional charucter, in edu- catlon in reapect ta all the conditions fnvolved i tha nroduction and 1so of the thige cxbibited, Ho that it may be confldently nsserted hat, e seriously mado at Philudelphin to restrain any ez uihitor from properly etating tho oost or selling priva of is commioditios uuder varying condition, tho mo- Uvo would Lo #o_ obviously n destra to prevent, for uroly solflel nnd class intérosts, 1ho poupln from ob- taining legitimate Information, would 1ot for ona motacat folarat ibitione, aud more 4f auyattempt should Ahat public optn.fon tho restrictio g Iu furtlier illustration of this subject, I append tho following extract of letter recently nddresacd to me Mr. J. 8. Moore, of New York, ono of my former by ofictal aseistanta wnder ho Goverument, whoso thorough acquaintanes with our American facal ays. tem enables bim most happily to contirm my views in respect ta the opportunity now afforded for expose uited Blates the Va~ As an ny Lo taught at Philadelphis,” writcs Mr, Moore, * uppose wo take tho well-known fubrio which bears the name of *Alpsca.’ A guality of tlia articla of women's wear, which costs {u firad ford, cantiot bo_ sold 67 per_cont od valorem, and o pranium of from from 8 to England, 9 pence per yard, In New York, uwlug fou duty of 13 10 15 per vent on_gold, for less thin 35 to W centy currency. Bit, If un oxbibitor of thls ‘quality of fabricc should append to them s placard bearing, In clear printed l'tters, worda to il oftect: ' Thisalpaca, which now mells fu New York for 40 cents per yard, currcncy, could, if admilted duty-frec, bu rold for ccnts per yard, gold,* then ¢1lo who runs may reart,’ and neods o uterproler to i tell it tho meanlng of 'what bo wadss aud, If sttt lar course woro takea by all forelgu exh truly great display of forelgn goods waro made, then avery woma; that dovotud * Centenniat’ wil Locomo ' Eree-Traier, and 1 eed bunlly proplies o yuu the futluencowi un important woxitiary wil platforme and electionn. Tho Centenntal * cactus tarift” 103y thus blogsom for tho last tine, and then wither tbitors, und o g of tho micu, wlo enters , 0 aay not! bavo on future polltical under the the glass roof of the Philadolyhia Exhibition, eith 10 prospoct, let us hopo, of blosomiug agali withiu the cowling coutury,” respectully, 1 am, yours most Davin A, Weres. REST. Tho stars far in the aky's bluo depthe “Cher vigila 'glu (o keep ; Tho inoon above you eastern hitl Cltmba up the fofty steop; The night-winds steal with gentle wing Above e flowers aaleep, ‘The birde upon the tuneloas apray Htave folded closo iheir wing Aud to tho allent night alons “Iho windiuy river ahagn: 1t wong; a2 of tho wooda and meads, A liusidred happy thisge, No volce ia tu the tranquil air, No waurmur savo fta owl ‘Yo earth ia Luatied a4 heaven above, Where, gist with cioudy zoue, ‘Fhie 1W00R §aes up Aniuy the stars o tako Lier eban trune. Swoot catm, and undlstuebod roposs, Yer abl tho landucape reat 3 et ix there in tho bruatblcas s no A volco which thriila tho breast, A sonetlis v which in thauke and love The Bottlc Dia 1, Snreecport (La.) Tones., Wo yostorday loaruud of the death of Dr, R. G. McWilllamas fu Bathany on Sundasy last, which oceurred 1 tho following sibguiar manner: I wsoows that the doctor, when under the intiuence uf liquor, conceived the faucy of holdiug up hus watcl or other objoct and permitting some one _dava winco ho and some boon compaufons ot iu Bethsuy, when AlcWill- to shoot atit. A “fow da ioma placed s bottlo ou bis bead aud insisted on Ouo or two shots were tired without any serious resutt, but fually Cicero Btophons thed, but missed tho ob- Ject and shot MoWilliams {n the head. He foll, o, bus dab ho did mob blaas remarkiog that it was » bad shot aod ho yas kil LhoRs. mitit the ereat and dizaity of tho United States, =it the manifactuier, whosa mifle are storpod, not for want of monsy, but for whub of o comueranl stanlard by which 0 mensure values which shall bo atable,— with ths maltitnds of unompiosed workmen, whoso idleuend i+ anenforced one. leading to want and beggary,--with the groat real-catato hodaea, who carinot sell or improvo their prop- o1ty becansn theie custoriors Q"flw not whether tho dollar they pav will bo worth moro or loss than now,—in which tho Jaler-Ocean ndniges, Bill not maka this end aue whit less desirabls, or deter ita certain and inevitabla coming. It was to b honed tuat. the verdicta of Ohio and the other States which tiave east their votes for the policy of honeats and honar, wonld mod- ify tho opinions of **tl.s Kepublican organ " in Hie Cnoited Statoy of Americ: of tho Wrst, amd 1t it to reconsid- In filustrating this, let mo group tha factw | €r ite illeonsiderad ries of practical s i § p c- | FePudistion bt it wlill seena Leat on main- :"mflug ity witbinmy. own (ime and recolloc- | ETCERS Bt thearick. which eontravons THE CURRENCY, f PLEA 0N THE Gng Ta the Liltar of 310l g Citteaso, Qo 2, (y BACK. af tin 24 in- ahity of grecu- kn duning ther cxinteuce,” and showed how Yedoral Conrt, by deerecs, had «ettled the principlo of law o referencn therato, that ' whatever fa necessory is anthorized,” and § now may that the conntituted authoritien, backed by Congress and the people, hnve furniehed ne A earency for which the entiro nation ia both linule nud ronpousible,—n wecurity attaching to b uthier eirculating medinm provionsiy issued all tha enrly promines of tho Hepublican parey, "Pn chiatler of the last United States Bouk be- | snd the wnuh! current of 1ty pres‘:ml |.n;\:c';n;d.l g nbout to expire. Congress, in 1832, pasecd | avowed purposen, B0 st of sonowal ; which (ien, Jackwon vatoed, | T-etths Itepublican jurly onco avow its con- b o neutls ohtwined @ charlcr from Pann | KM 6 the theuriee of e futer-tevan, nud, rlvatia : on Wie popularity of Nicholas Biddle, Indicato its pueparn to increaso the volume of its Proadent. fiounshed on o inge poalo fora | greeubnckn. aut never reden them i ot aey time, but ended i ntter nitin and bankruptey. tn llflnl}*-kwl" of tho harty swould b siruck, Hoom after tio veto the Government o sud a wide sl open way would bo prepared for wern piacod in privatesioen ant orate Lot | tho Donocratie party to rudo Into powet e (e cpod Biate bankn § pigh horae iy 1876, throughoat the country, which, dizcounting Thero ia not an intelligont observer of tho fracly to the public, led to upeculation in endiess | character and methods of tliat old-timo * linrd- vatiety. All sorts of operations were fotered, | Mouey party.” who does not know that the Dem- and the enlito community ran hesdiong into | ocrats, by all their antccodonts and all their debt for wild laudv, town-lots, tunber, mulberry. | priveiplos (it thev have any). are opposnd to treos for ilk-worme, fatcy hows, ete., cle. Thiy | the compuluory malking of the greenback s logal- continuad without ehieck until 1836, when tho | tender ; and that thetr leading voliticinua bavo Government jruued the then-famuons - Specie | only taken the opposito side for thn sako of Circular " to the Land-Oflices, requiring all'pa temporary success, based upon tho fact that tho ments in gold and silver. beopie who train with that pariy are, to o groat During that vear, sy the firat alarm. cawme the | estent, not sufliciently versed in tlie scioncs of faituro of tho lank of Marvland, in Daitimore, | Gnsuca and political economy to undorstsnd with an_estended cirenlation sod doposit ac- | that the present distross fs owing, noi to a gaunl, It was mobbed by its creditors. tho riot | deliccuey 1 the volumo of currency, bLut lasting sovoral dayw, wud closed by the touring- | o the " fac that =~ the currency which down of the olegaut Lrick masionon Monument | ¥e hnve has o defiuite value compared with Square, worlh thoussuds of dollare, owned by | thet whick all other of the great natious regard Johmeun, tho great lnwyer, ho being a | 84 nouey, 2 . stockhialder, a5 was cisimed. of eaid bank, [Let | Poreuddine the unthinking rank-and-fle of tho me Lere unte, 8y o warniug to all citien that en- | Breat Democratic following that the thing needed courage 1aobi by a louso Rystent of nolice-rega- | 18 & Lflemy Of greenbacky, whatever they may be latione, that the Ciiy of Laltimore was sued and | %0rth, sud that'the ** goudl time " of n plenty of compelled fo pay Mr. Johuon for big property.] | theto. aud of o plonts 'of work at good prices, From this d‘nle, fafluron contitued to bo nii- | would Feult frous thei incowming to bomet, g merous; aud. iu May. 1437, thers was o general [ 4ave played, 851 thor wout. tho part of doma. ,,“,(,,mulo,, of specie-paymants by oll the bauks | 80gusK, and lisve caten their owu words aud the throughout tho conntry, ‘This iy kuown tu his- | F0rda of their formor groat loaders, and have tory aa the panic of 15J7. forgotten all their party-tradittona on the quos- Busincss cverywhore was in 8 ¢ tiou of money. Bat tho feasibillty of tho pilnciples of the Domocratic party is = wu great, and - thalr faeulty for clauge® wo wonderful, that, if thoy could only Leguito the Ropublican party into 1o practical, permanens, repudiation of the currency whicli they origi- nated 888 war-messura in tho groat life-and. deaths struegle with the Rebels of the Boutl, they would wstautly chango front, become tha championy of the real-monev policy, and tnra npon thoe Republicau party with the chargo that it lind docoived the people, and hiad ropudiated ity nolemn and oft-reiterated promiscs, Bhall wo give thewm this rod with which to boat a8 to deatie? AL VIEWS OF AN INFLATIONIST, To the Kiitor of L1 Chicaro Tribun Cnrcago, Oct. 21.—Thore is no doubt of it; radical chauga of weotimont is going on with reference to tho curreucy, and the tendency in fasor of tho groenback, or s full logal American paper dollar, is unmistakablo; and we must at last como to adopt & new wystem of convenient aud chesp currency. 1t must bo so choap aud so plentiful in eupply (not redandant—thero can bo 1o excuse for uot eoough or too much at this lato day) that there shadl be groator incentive for each and evory pereon living to ho employedand accomplish something, Under our prosent system, tho cntire mass of inhabitants accustomsd to lise by work or exerctee of somo kind, caouot al- together be kapt employed at decent or living wages, Thero are o great many thousand per- #ous—mev, women, and ohildren—in this city to-Iay, who have nothing to do, or who cannot ot auything to do which haa monoy encugh in 1t to afford s decent subsistonco and shelter, ‘Lliose perwons are very poor; If not, thoy must b boon made 50 by Ligh taxos, nduous mortgages, nod deprociation of their valus ag willwg workers, through lack of omployment and fair wl;inu. Huch is the state of things in our city, and every other clty in tho laud, while thero is really the groatest amount of work to bo nocompliahi- od, sod ncling to bo dowe. Thers aro millions of dollars’ worth of ropairs alone which should bo made in this city, ou or about the houses iu whicl pooplo livo or do business H a Court-House is waitiug on hard times,—so 18 tho Custom-llouso ; streot-improvemonts ate bohina ; tho complolion of numerons resklenco aod business blocks {s stoppod for want of money 0 {uy for work upon them. Ouar grand harbor, Which was 1o tloat the commercial fleots of tho world, i1 now searcaly thought of ; tho great railroad companios are not buliding thieirdepots ; umall busiusss-men ara somehow wearing long facea; aud thero is no sasomblago of pooplo i which you canuot at onoe oo pictured on its faco an'all-psodominating look of caro, n8 if traction was univorsal, and nouo were happy. Now, then, such cannot be a normal or proper situation of affairs. Somothing bas beeu withe drawn, or something is uot furnishod, 1 the way of means with which to accomplish’ resunlts and gnin valuablo objocts. It is thought the carreucy-stringency has sometlung to do with this genersl backwarduess, *‘loms of confi- dence,” or anytlivg you choose to callit. No matter what, ‘the businces of exchanga goner- ally 18 foarfully diminished, and wo:kngwaplu are evervwhero out of employment ; uu {3 here is tho incoption of the oamnest and radics] movement which is daily gathering force, and which will vre long become the power of tho country, Onr peoplo do not belleve in contraction. Do- Dy them the means of omploimunt and adoquato pay for their work, and you breod theft in all its phases and degrees, 6o that our Government is now ’rrlctinlly hmited to the investigation of fraud, whila the mos: respectable persous are ongsging in decoptivo practices in order to pos- ses8 thomselvos of tho lion's share of the ro- snlts of labor, With no monoy to do businoss with nmouE tho massos, sud with the examples of great robbors an the incresse, what wonder ig it that thore aro numnnm—l()'u, legions—of amall robbers, and new cases atart(ng out overy day in tho oxporimental fleld of 'theft or fraud, x‘: :Ra? shortest and eusiost way to gain a livoli- tic state, and o coutiuucd. without auy apparent mode of relief, uutil 1639, wheu tho baugs, by concort- ed action, mado an off.rt to recume: s Lriof period, all ut. after sain suspended, except tho Now York and. tern Lanke, and those of New O:leauy, Charleston, Savaunab, and a few other pomts. ‘Thn a standard of valne was estabiisbed for cotton, naval stores, {\ork. and produce, at the leading points Eaut. Nortl, and Houth, but Jeas- ing the West, ko far as jia homo traussctions in trade, in o terrible condition. ‘Chon cominenced the wild-cat-cnrren “red-dog,” **blus-pup.” ** Biraudon," mznuer of paper-circalation. I tho mesntime, tho Vau Buren Administra- tion, which was nearing its clowe, was beld ro- sponsible by the poople for guod times which nover camo ; and the commun with. ono ac- cord, swept the country with rd-cider” aud *coon-akins,” electing “Tippocanoo and Tyler t00," inn 1840), Thtis way the first inroad mado into tho old Democratio ranke, virtuslly, sinco the retirement of Washington, excopt the wemorable Adaws and Clay bargain in 1593, Tho new President took chargo of affairs, sud Congrens in 1811, in special sonsion, passed at once the Bankrupt law, following with a United Htates Bauk Charlor, which was vetoed by Tyler, Harrikon baving iod sborily after Lis inaugura- tiou, s ‘Tho Obio and Indiaua banks were reqnired by Iaw to resumo ou the $ih of arch, 16842, which wasobeyed by tho fow solvent oncs in Cineine nati, Cloveland. Colnmbus, Daytou. atc., and by tho tate liank and branches of Indiana, but the Rreater nntnber, with tlowr thousands of debt- ors, cloged their affains iu a Bavkrupt Court, the Bauk of Cinciunati and the Miami Exporting Cowpany’s beiug 1obbod by an indignant poo. plo, claiming to be swindled creditors. Aw time passed on, Chicago and tho then Far West began to grow into importance, aud the Wiseonsin Insurauce Company, of Goorge Smith and Alexsnder Mitchell, and like Institutions, with pomo chartered bauks of 1llinois,~mixod largely with Indisna and other wild-cat stock- banke,—formed the curreucy in tho States bor- dering_on and doing busiucss with Chicago, To- Jedo, Detroit, Cleveland, and other places, and s state of things continued until the noxt big warning, in August, 1837, whon tho * Obio Lifo & Trust Company " aetounded tho country s proclaimed insolvenc! following whi closely camo tho failuro again of tha bauks in Now York City and throughout tho Union. ‘This lnst goneral suspension virtually wonad ap tho sttemot at farmishing a crrculating modi- um for tho country, 8o far as there was any unit- od offort to that eud by tho few solvent bauks, ucattered ns they wero wide apart throughoat thio Union ; aud tho various inatitutions, whor- aver mituate, limped along through the panis of 1857 to 1862, uud this brings us down to the bo- ginning of tho greonback sud bond era, made necessary by tho War. Spaecial attention iy called to tho fact that, during tho past forty years, tho longest cuntinu- aus period thst specie-payments have heen main- tnined ju eighteon yosrs,—1839 to 1357,—and this only by & fow highiy-favored institutious in tho priucipal seaports, Which from thewr posi- tion dictatod ta the balance of the country ; and et they yialdod like the veriost wild-caty, whon thoir solvaucy was questioned by o dewand for payment by their croditors. Huch bas been tho result of all the curroncy furnished to thus groat American people down to 1862, which waa based ou Btato, renl-ostate, and 1udividusl seourity, and in the palmy days of speclo-paymonts, which, (o sddition, ono-third of tho amonnt of circulation was in gold and silver, Hut wo have soon that, when the confle deuca of the community was gono or temporse rily withdrawn from any institution, or, as iu tho great pauics, from all of thew, down they went. Uur outire Govérnment circulation (grees backs aud Nationa! Bauks) ia called $800,000,00¢ our population, 45,000,000 ; making less than #18 to oach porson; aud not to oxcoed 30 to esch votor, Burely, wo cau il comprehond the safety and couveuicoco of nuch a system, Ilave reframced fromall dogmns as tothoscionco of banking and tho art of maimtaiuing spocie-pay- monts without tho specic, and continod mveslr to tho hustory of the various curroucics usod by shis groat trading country siuce 153¢,—all within :ny owa pergoual rocoliection ; and ropoat, what L etartod to domonetrute, that our Funubrwku. 48 o eurrency, bave a backg, legal and sub- atantial, which never attached to any othoer pre- viously lssuod in tho United Statcs,~ N. I, I, ' GREENBACKS—ONE HUNDRED." Lo the Editor of The Chicago Tribuns ; Cuicado, Oct. 22.—Tha Infer-Ocean bieads tho nows of tho day, In its cditorial items, with the informution that, ** At the Board of Trade (Cli- «eago), grovnbacks opeued at 100, aud* closed at 100" and all This last offort at contraction has, or will bhavo, proven the last hindranco to progress that the peoplo wiil stand. You may contidently look for rebollion au tho part of the producers aud workers genornlly against tho further schemos of the monoy-mouupolists. The greonback- causo {3 gainiug steadily, and contraction, Lard times, and tho threata of spccie-rosumption, ops orata cifostively to push the whole pooplo up to the polut of dachnufi for an absoluto paper me- diam of exchiange. Buchi can be made as good u8 gold for sll purposca of vxchangiug cvmnmodi- tice or valucs of auy kind. Ho that, 1n tho end, ]:apur will have becomo tho world's curroncy,— egalized pupor § for, i auy inadequato sub- staucy cun be made Jegal-tendor, tho power that 1nukos it 60 I8 comewm and liable ot suy timo 10 tako up somo sdequato and morw ccaveuient thing and logalizo it for tho rame porpose, OobEN WHITLOOK, HY CANNOT THE GOVERNMENT SUPPLY THE wCUfl"%hOY OF THE COUNTRY, AS WELL AS COIN Lo the Editor of The Chicass Tribuna Cuicsoo, Oct, 22.—It 14 now in order for country-Bank Presidonts o educato tho peopte about fuavzial questives, sud Toe TIBUNE on- tertainsone of theso gentlemen to-day in o column and s balf. - J. B IL" is concerned only about tho nyto et rid of tho greonback. From tho **J, It H." rtaudpolut, tho groenback sub- gerved o very good purposo 1 aaving the couns tey, aud now snonld ba quiotly elielved, and give placa to the notes of the *“J, B, IL" order. 1 Luow wy protest against this war on the green- backs will not have any forco with a UaukePrecident; bub right bhero I wish to rounnd thesp gontlemen of tho bLauk-pariors hat, iu 1572, thoy were quite unauimous ju do- nouncing Moraco Groeloy because that honost but uot slways wige mau had atnounced that »Tho way to resumo was to resumo,” They 1act at Cooper's Instisute, aud solemnly declared that, “‘If Qreeloy wore elected, thy country would bo procipitated into a panic, aud our financial system would bo destroyed. Ioor Greoley was hiterally wiped out by thu capital- ista, but wo had the panio all the samo. I mere- ly reoall this fact 1o show that even Bauk-Urosi- douts and grout capitalists sowctiuied somwil groat blunders 1u tlusuco as weil as politica. Now, I do not projose to discuss the plan of “J, B. K. for funding the greoubacke, His plan may bo just as good ax that of uuy other Bauk-Presideut; but wby fund thew at ali? Why ahould tho graenback bo made to take a Dack eott, (k14 5008 02. 34N bauks By Now, fot' it report that in Loudon, l'aris, Vi- enusa, Berlin, 8t. Putorsburg, Constuutinople, aud in all tho commercial cities of tho Orlent, and nt f3au Froneisco, ** Giold opened at 100, and etosod at 100, and tho reader of tho news would opeh his eyos. *Is it possible,” ho wonld say, ‘- that we havant last got u dollar thatisadollar? aud that tho India-rubber artiole which bas veen ntretchod nll'aiong from 49 to 90 has at length o dxed aud stablo value, wiuch corresponds with* the gold-staudsrd of ol sges nud nations.” Could ho regard tho report a8 anytbing but a practical joke, and feel thet tho * Republican organ_par excellonco " bad not abaudoned the honest policy of resumption to bo insuguratod ho soon ms the “Uivil War" was over, and become B convert to practical repudistion, ho would throw up Jus hat with ioy, uud go forth to s work with tho assurance thut the *guod $imo " which bad beeu 8o lony 1 coming " Lad indeed come. ‘Tho Board of Trade i4 & great institution, Cli- cagods a groat city, and the Unitod States [s s gread nation; Lub neithor ta gvout cuough to re- verse all bistory, whicls teachos thut au meon- vertible papor<currency cannot have s wtablo value, or compel thy groator comwmervial centres and nationy of Luo earth to csleam the pujier- monay uf tho nation say bighor than the nation iteelf estooms i, 16 Wikl Yo guite e for the .Lombard-Btroot Exchauge, the Paris Bourse, and tho otber groat wonoy-centres of tho world, to say ihat a greenbackedols lar ia worth 100 cents, when the Governniont of tho Unitod States shall say it. \Yhoa our Goy- ornmout reachos this wublino beight of coneist- vuey and bouesty, aud !hdlz-ny u gold-doilar for # grocubaok-dollur, and slall tuku the grecuback aud tho gold ut tho Custow-Houssss of thy 110 valuo, wo shall od grovnbacks in London, Paris, 5t. Petorsburg, Houg Kong, sud San Frauviseo, ut par iv gold, eavo & reasouablo percentago for exclango, ‘This ju tho graud “ consummation to bo do- sty wishiod s agd the sdlo aud, Jocase taka their place 2 ¢ T am not mistaken, %I L. 1L i4 8" Inwyer, and & good one, t0o, T exe pect he i pgond bankers If he Is, ho onght not Lo object ta tho following plan for the soitlo- ment of Lho currency quostion : First—The privilégo of isuing the paper- manoy of the country'shauld ba confined to the Aamo power that proviles for tho colnlog of momey. If tho Goneral GGovernment csa 5010— gato to nn nulimited numbor of banks, over which the Statos have no control, the exclusive :rrllv;l:,l::u‘ of Imulmtl Paper-nonor, t can with- hold that power, aud potform the same that it delegates to lhl) hinka, fokvion Second—1f 1t is conatitutional for Congress ws emplos 2,000 or 3,900 banks to farnish the pea-~ plo with papar-monay, it is oqually conatitntional to dolegato that power oxclusively to a Dopass ment of tho Ganeral tovernmant. Third—Thoe power to issup PApor-monoy oughg to ba entirely dizaonnected from bank-deposita, Whon thoro i any great financial disturbance, | 8 bank has enough lo do to provide for jta deporitors, without being called on, at the sama time, 83 it surely will bo, to redsem in ooin ftr circulating notos, f'uur[h—AUflll(fl'eu might czoato s like that iwsued undor tho act of Aug. 10, 1861, ’ known aa the “Demand Noto,” redsomable in coin ot any Governinont Depository, Tho Go crument could tloat $300,000,000 or $400,- WL o thia currency ‘ou & amallor com Luxis than tho banks could, becausa of tho greater confidonca the poaple wonld bave 1n it, aud becauso it would bo at par all over tho countey ; while bank-notes, issued from ovory cross-roads, saw-mill, and grocory-suttiemont, would bo divcounted in proportion to the cost of couverting them Into cuin, bosides & goneral de- preciation from Lauk-failures and defalcations, ending in a collapro of thg entiro system of Na- tlulnu-mnlm.u respectfully submit this plan for a - uent currency to *J, B, 1LY nl’;‘d mflb-uk-mda denerally. 1t tho groonbacka are to bo ratired forever. to allow thio National Banks to spread I admit his plan wil answor the carroncy themseives, purpogo Just ea woll as any pruposed. E N, C: A SHORT ARGUMENT, To the Editor af The Chicage L'ribune : Cuteavo, Oct, 21.—Put a 21 groenback bofore ¥ou, sud ot it ropresoot tho proportion of the ontire issues of tho country, It fa worth (Gt cents. Cat it in two, and each half will bo wortle 18 conts, for you can pesto tho balves togothor aud thon they will again bo worth 86 conta.! Now, 1t you do tho mamo thing with all the greenbacks in tho nation, you would get rola- tively, but prociuely, tho samo results. Now, ju<! stead of outting the grocubacks in two, suppose you issuo exactiy twico as many more. You pup * your new bill alongsido of the old ono, and thay, togethier are worth precisoly ns much &a tho two | halves in tho case firat atatod, viz.: 86 conts.| ‘Tt is. tho carrency wili thon be worth 43 couts ou the dollar, juktead of 86. Is thero an infla-’ tonist—ilutionist {s bottor—ao dull that ho can~ uot appreciate tho truth and tho force of thim argument ? 1t fs unansworablo, Lut, bo retosts, wo will mako the new lasues £ legal-tonder. “Now that tho country {s 8% poaco, that 1w planly uucoustitutional. Even in time' of war, tha right to make ‘paper tesuos a legal- tender iy of doubtfni nfllhoritly. It was suse tained by tho Supreme Court only by a majority. of oue,—Mr, Juatico Brudloy, » naw member. ! Dot it is ofteu sniu, without' irteveronco, tharar there aro somo things which even Almighty Power caonot do: sud there aro many ¢ i that Congress caunot do, evon thongh its con~: stitutional suthority bo grautod. Whon Any- thing id onco bought, or & day's work ia dane, ! the kreenback pays for it. But howls It witls | nll uaw contracts ¢ Iivory hour in tho day nm‘. actusl coiu-value of tha greenback is takon into! tho sccount in every contrace or male thatim- mado. Congress hid 1o puwoer to mako a mare sell anything boe Lisa to_ disposs of, or to makow. bim roceive auything olso bat coin for it, If be. clioosos Lo eell, aud to demand it. If $1,000 wilk. Luy o4 many bushels of whest to-day, and green- backs are quoted at 1idiscount, 3860 o coin will do tho same thing. If n day's wages 1 worth $2, £1.72 fu coin ia all the laboror reall; w#ets ; and it will purchnso just as many neces- #arica for his family 89 the 32 greenback would.: Aoy, more. The laborer is constantly cheatod by tho fluctustions in tho market price of ovoryllung, caased by 3 deprocia~ ted * currency. The eimple fact 1, the indebtedness (bonds) in tho hauds of the rich aro worth from 1to8couts abova par {n coin ; while tho indebtodnoss in tho hands of 1he pooplo (greonbacks) is worth 14 conts balow ita nomioal par valuo, That is, the laborer’ dollar is worth only 85 cents ; the bondholder’ #1.01 to £1.03. T0 contivuo this gross impoai tion upon tho people, tho dilutionists are ab work with ail thoir might. Lot tho voters onca underatand the true 18sucs, aud they will go for lionese money, and bury the dilutioniata out of slght forover, B. GREENBACKS REDEEMABLE IN BONDS. To the Kittor of The Chicugo Trabue ; Caicaao, Oct. 21.—After roading your- paper oy #omo time, I have become opposed to the proas ont eyatem of papor-moncy, bocause, principak 1y, 1t is doubtful whethor Congress has power to print **money " and make it s logal-tender; becauso ths Government promises to pay, and. dloen not; and becauso, {f Congross has powes to print monoey, Lusiness-mon can nover toll whay thoy can depand upon, and thers will bo an une certainty that will proclado any substantial, pere nauont prosperity, At tho same time, wo csna not but think that wo must have some kind of paper-money ; aud any systom that has gold as & basis will bs much liko the old wild-cat eysteny of banks., Now, caunot tho Government ine nugurato a system much liko our National-Bank. ing eystem, but withtho exception that the notes #hall'bo paid on presentation ?u the bonds on de« osit, and possibly that a bond sball be issned for thiu spocial purpodo, and shall boar a low rato of Interost. Buch notes would have a uni- form and almost fixed valuo; woald bo founded on tho crodit of the Government ; wonld bo paid) 8 areed upon ; and tho smount’ in circulation, woald be regulated by the demands of trade, Bcnoovoy, [Tho plan suggeated, of having the greenbackw redoemable in s bond.woald not give the currene cy » par-valuc, nalusa tho bond into which they wera convortible was payablo, principal and ine toroat, in gold, and a: a rato of interast which, would carry tho bond to par, In that case tho ' notos syould seck the bonds. If the fssuo of cure’ reucy was uulimited, the bonds would incressa lo proportion, and tho futerost-bearing debt would grow with oach issuo of paper. If the holders of tho presont gresnbacks were offered & 4-per-cent bond, interost and?yrincipal payable iu gold, the grecubacks would advanco to par, or 0 near it that epoolo-payments would ba prace ticelly ostablished.—Evp. Tmnuse.] GOLD AND ' CASH-GOLD.M To the Editar of Tha Chicago Z'ribune : Cntcaao, Oct. 21.~In a recont communication toyou on thostock of gold necded, ¥ou evis deutly Lave not fully understood the discriminse tion I intended to mako betwoon gold and ‘‘casl-gold.” What is tormed ' cash,” fn sposking of any commodity, as wheat, corn, . catton, or gold, in tho parlauco of tho oxchange, oans immediate delivery and payment theroofs How much wo 8o quoted tho rato paid for the loan of gold per duy, even at esorbitant Iatos, beoause the *'bull " have tho control of all tha avollable gold iu tha market, given as times Wheu foreigu exchangs i low enough to Lm&m. #old a8 u protit. As ittakes ncarly fifteen dayw to import gold, tho importers, for the ' cash-gold ~ required to psy ocustome-du. tios, must bo bled o about whatover tha wold-gamblers domand. To remedy thls, I [n‘m- pose to give thew thirty daya’ timo ‘on sufficlent necurity to protoct the Government, whouover such stato of atfsirs oxists. Tho gold may ba presont in tho couutry, but it is often * looked up," and heid for oxorbitant prices, and hence not available to those who must hava it at once, Wherion 8 paper-basis for currenoy, let gold Do treatod eiviply a8 & cummodity, fully un- derstand that tlus commodity, gold, whea wx- ported, muet bo addod (o our exports 1o make thow oqual to our imports, aud cossequently aid ot express myself as beiny in error on thav pont. plan I hava To ‘tho * gradual-snbsncement " ndded & new provisiou in ordar to bave the Na= tonal Bauks make proparations for specie-pay~ wenty, viz, : Requiremout that the Natiooal Bunke slisll accnmulato gold eqoh' year to the ex- tout of 5 por ceut on the amount of their note circulation. ¥. R Ouaxores. 970 A CRITIC. Hold this soa-shell to your And you sball bear e Not the audato of the aea, Not the wild wind's symphe o, But your own beart! ¥au do poots aud thulr song A griovous wrug, 11 Sour own hesst doss not Lrtng o their deop imagining As much Leauly aa thoy sing, - e A