Chicago Daily Tribune Newspaper, December 7, 1875, Page 4

TERMS OF THE TRIBUNE. RATEN 67 RTRACRIPTION (FATARLR 1N ADVANCY), Postagn i'repnid nt this OMce. Dally Bdition, post-pald 1 yeare o iineen [ oar at tama eate. “RWETRR for. y e Rellgio of year at eame rate, % FEDITION, ine o0ny, per Ohubol # Ginb To prevent delsy snd miataken, ba muro and give Post-Office address fn fall, inciuding Stateand County, Remittances may be made either by draft, express, Post-Offios ordar, or in regintered letters, at our rink, TENMS TO CIT Datly, delivered, Bundsy exeey: Dasly, delivered, Bunday fucladed, Address TIIE TRIRU; Gornsr Madison and Dearbo e erm———— Al USEME;J‘Ts. centa per week, 1) cenls per week, ) COMPANY, GChicago, il NEW CHICAGO TREATRE~Clark sirast, betwoen a-nuum and Lake, Engagementof Kelly'& Leon's [instrels, ADELPUI THEATRE—Dearborn street, corner Monroe, Varety estertalumont, MoVICEER'S THRATRE~Madison street, botweon Desrborn and Blate, Engagement of May oward, " Ths New Megdalen.” WOOD'S MUSE.UM—Monroe atreet, between Dear- born and Btats. Afternoon, * Cgmilie,” Evening, * Bix Degroes of Crime,” o UNION PARK CHUROH—Concert by the Darnabos Troupe, UNITY OHURCH—Tecture Ly W, M, R. Bubjoa: ** The Artistic Qualities of tho Carical —— SOCIETY MEETINOS. French., turists.” ATTENTION, IR RNIGHTS I—Annual Conclave of Apoilo Commandery, No, 1, K. T., this (Tusaday) oves ning, at olclock, &t tho Aeylum, tor the trantaction of Annusl Businews. Visiting Hir’ Koights courtoous- 1y invited, By order of the E. O, B. . W, LOCKE, Recorder. ABHLAR LODGE, No. 903, F, and A, Aleeting thia (Tuesday) ovening, in their hail, Foeat,, for work on the dd Dogres. Ti cordially invited. C, 11, CR The @’bifagu Tribune, Tuesday Morning, Decembor 7, 1875, The Bignal Servico report indicates con- tinued rain, with winds backing to the north- ‘west, aud colder weather, Greenbacks, ‘at the Now York Gold Ex- change yesterday, opened at 874, rose to 87§, fell to 87, and closed n shade under the last figures. At p gothering of some 200 Methodist clergymen in Boston yesterday, Bishop Havex broached the proposition that Presi- dont Grant be nominated for n third term. The Bishop's answor was & unanimous Amon} Thoe occurrence may bo set down ns pignificantly complimentary rather than po- litically consoquentiat, In the election of Commissioner Jomsson s President, the new Bonrd of County Com- missioners offer but littlo encouragement for the expectation that tho reorganization of ihe Board vill put an end to tho domination of the Ring. Taking as an indication the previous predilections of the new presiding officer, there ia no reason to anticipato a bet- ter state of things during the ensuing yenr than that which prevailed during. the ex- lstence of the preceding Board. It is evi- dent that there will still remain & need for tho watchfulness of the Citizens' Association in ordoer to provent frequent raids by the veorganized Ring upon the County Treasury. Sr—m———— Tho annual report of the Secretary of War contains many important recommendations, notably thogo relating to tho value and effi- cioncy of the Bignal Service, and the sugges- Lion rolative to its establishment ns ono of tho Bureaus of tho War Department ; the necesaity for inoreasing tho battalion of en- ginoers to 500 men for the purpose of plant- ing and operating the torpedo defense sys- tem; the urgent neod of larger nppropria. tions for arming and equipping the militia, @3 well as for increasing tho reserve supply of first-class arms for the regular service; the importance of providing for the arma- ment of our seacoast fortifications. Tho rocommendations of Secrefary Brrnar, in relation to the questions of armament nnd defonse, will command pecaliar intercst and sttention just at this tim. Tho first dny's session of the Democratio flouse of Represontatives witnessod a sharp and exciting contest on tho Louisiana ques- tion—n contest in which superior political acumen and parliamentary skill carried the day os against the advantage of nnmbers, It was Feananpo Woon's first effort to seize the Democratie leadership, and in the ontcomo that gentlomnn's pretensions were offootivoly disposed of by tho promptness aud energy with which ox-Speaker Bramve, admirably seconded by Mr, Wueeren, of New York, throw himselt into the breach and defeated tho audncious attempt to once more tear open the Louisiana question. Mr. Bramve's success was brillinnt and com- plote, though it was not comploted until THE CIIICAGO TRIBUNE: TUESDAY DECEMBER 7, 1876. Onta wera quiet and casier, closing nt 80c carh, and 30tc for January, Jiye wad quiet at 673@08¢. Dardey was in hetter de- mand and firmer, closing ¢ for Decem- ber, and She for January. Hogs were dnll and 10¢ lower {han Saturdny, with the bulk of tho snles ab 26 . Uatilo wero inaet. ivo and unchanged. Sheep woro dall nt $0.00@4.50, One hundred doliara in gold would buy $1114.87} in greenbacks nt the close. Tho resignation of the Yon, Jasern D. Wanp aa United States Attarnoy for this dis- trict has not been unexpected. Tt lins beon known that, smong tho recent indictmonts Dy the United States CGieand Turies for fraud on the revenue, thero have heen prrsons with whom Mr. Wann, ps a resident and lawyer of Chiengo, han had intimate socinl and profos- slonnl relations in the past. If he had re- tnined hia position as tho prosecuting attor- ney for the Government, Lis duty in some of theso enses wonld have been exceedingly em- barrassing on this account; and even if ho hiad the exceptionnl fortitnde to press them to trinl with the care nnd viyor which have been shown in St. Lonis, ho wouhl have beon subjected to many suspicions on account of tho relntions we have deseribed. Mr. Tovs €. Hves, the new Connty Trens- urer, formally took posscssion of his oflico yestorday, having duly qualified by taking the onth and giving the requisite bonds, Mr. Huer's finst et was to count the money left by his predecessor, * Buffalo" Mivrex, which was found 1o bo $259,034.99,—n full and completo soltlement with the county and State, While wo congratulate Mr, Huck wpon wking possession, weo congratulato Mr, MiLier upon going out with honor. 'I'np Toiyse did not believe at the time the slories that were circulated against him for eampaign purposes,” nud thercfore refused Lasaz and Cox had committed the serious blundor of siding with Woon and sharing in the humiliation” of his failure. It was & protty fight, and handsomely won. —— The Common Council msada itself appear oxtremely silly not long ago by ordering that a demand be made upon the Committes hav. - ing in charge the fund created by the salo of paintings donated by Fronch artists for the relief of artists who suffered in the great Chi. cago fire of 1871. Apart from tho fact that the necessity for such a fund had long since passed, if, indeed, such nocessity existed, the Common Council hsd no conceiva ble right to meddle with the mattor, Consequontly, in meking the ‘““demand” that delectable body lald itself Iliable to be clegantly snubbed, and the opportunity has been improved by the Chairman of the Now York Committes, Mr, E, D, Monaax, who, in a brief note to Mayor CoLviy, neatly conveys au intimation that of all persons on ocurth to whom the Committea would think of surrendering their trust, the Mayor and Common Council of Chicago are the last. And the people of this city will commend tho excellent indgment of the New York Commit- tee as expressod by Mr, Moraax. + The Chicago produce markets wero very frrogular yesterday. Mess pork was active and 10@16¢ per brl lower, closing at $18.50 seller the month, and $19.15 for February. Lard was less activo and 5@10¢ per 100 1bs lower, closing at $12.15 cash, and &12,82} @12.85 for February, Meats ware quict and gc lower, ut 7o for shoulders, 93c for short Tibs, and 10fc for short clears, all boxed. 1lighwines were in fair demand and steady, st @111 per gallon. Flour was dull and wesk. Wheat wus more active and 2@2jc lower, closing at 97{o cash, und U8ie for Jan. uury, Coru was dull and a shade firmer, closing at 46}0 for December, avd 46]o for to give carrency or countenance to them. The warning afforded by D. A. Gaox wis heeded by Mr. Mirien to such good purpose that ha is ablo toleave lis offico with clean skirts, and to tnrn over overy dollar helong. ing to the county promptly on demand, MR, LAMAR'S SPEFCH, The Kow York World sings an exulting pren of triumph over the speech dolivered ULy Mr. Laxag, as Chairman of thie Demo- cratic Congressional eauens, on Saturday last, It is the first time it has had tosing for many years, and, while wo bave no objection to its singing, it mny bo instructive to find out what it is singing about. By way of pref. ace, wo aro willing to admit that Mr, Lytan is ona of the ablest, most polished, fairest- minded, and most influential men in the Sonth, Ho staod high in the old Congress before the War, e is nman of fine nbility and elegant address, and is eloquent of speech, e went into the Rebellion with much relne- tance, according to his own representation. He is not a hater of the North, nor a man who cherishes resentments, and is perhaps s fair n type of a “‘reconstructed Rebel ' as the South can present among its moxt promi. nent men, Assuch he was put forward ny the Chairman of the caucus without any op- position upon the part of either of the threo candidates for the Speakership or their baek- ers. Ife ropresented the majority sentiment of tha caucus, aud, as far as o was allowed to, the Democratic platform and policy of the Honse of Representatives. Woare oxaltingly told by the World that ©Mr, Lastan's speech will arouse n ocordinl and responsive ccho in every Democratio ‘heart from Maine to Toxas, from New York to Californis,” What aro the propositions that are going o produce this remarkable ef- fect? It is ensy to sift out those to which the Rlopublican party will make no objoction, and which wo are glad to be assured are go- ing to aroude tha Demncratic echoes. They aro the propositions to pay tho national debt in full in the world’s money; to make the paper currency “‘cqual with that of any nation on the earth ”; to reduco the exponses of the Government; to adopt such a system of taxation as will bring in the roquired rov- enuo with the fowest restrictions upon com. mereo and with tho least burden to the farmers and Inborers ; and to ferreb out and punish corruptions. All thesa propositions cover Ilepublican ground, aud we are glad to bo assured that their cnuncintion is bound to raise an echo in overy Democratic heart. Iaving sifted these out, there still remsin two propositions which ara open to discus. sion. Mr. Layar says: ‘Chere hsa been for #ome time fn tho public mind s conviction profound and all-pervading thst tho Cirst Service of the country hua not been directed from considerations of public good, bus from thois of party profit, aud for corrupt, solfeh, sud unpatriotio dae signs. Tho people demand st our hands & wweeping and thorough reform, which sliali bo conditcted 1no spirit thae will pocuro tha appuintment to places of trust and responsibllity tho houcat, the ezporienced, and the capable, This convielion has boen profonnd and all- pervading not only for * somo time,” but for many ycars, It ks existed over since tho days of ANpREW JacrsoN's Presidency, when the Demogratic party destroyed the Civil Sor- vio, aud sdopted as nparty motto: ¢ To the victors belong the spoils.” When thoy adopt- ed this ruinous policy, they made office-hold- ing purely partisan in character, anl they carried out that policy from 1828 {o 1861 with such completeness that, during all that time, there was not an oflice-holderunder the Fedoral Government who held his placo be- cause of his ability to fill it, but because he wes 8 Dumocrativ partisan, During all theso years they have carried out this poliey, not only in the offices under the Foderal Govern- ment, butin Btate, county, municipal, and town oflices, wherover thoy have been in power. Every office has been filled with partisans for partissn purposes. Men of ability, and intelligenco, and honesty have been ruthlessly turned out to make room for partisany, The very coucus which Mr, Lavar was addressing is a notable illustration of tho truth of this asscrtion. Every office which it had In its gift, down to the Doorkeeper, was tendered to n partisan, and even 8 partisan Chaplain waa selected to pray for them and look after their religious interests who had made himself so obnoxious in Connectleut during the War by his * polit- ical principles” that o was put out of the Btate, according tathedinpatelies,—tho “ polit- ical principles,” of course, meaning sym- pathy with the attempt to break up the Federal Government. In discussing and wd- vocating reform in the Cisil evvico, thers- fore, Mr. Laxax is handling edged tools, If there is any applteation to boe muds to his re- marks upon this question, it cau ouly be a censure of the Democratic spoils polivy and practice ever sinco the party was organized, forty-soven years ago. But again says Mr. Lasan: ‘The graudest foepiration of the Democratic party 18, Lud fte crownlug glury will be, {0 restoro tho Cun- stitution to its primitive sirepgth snd autboniy, uud to txku it tho prutuctor of every section and of every Hlate du the Union, and of evory human Lelug, of every racy, colur, sid conditlon, fn thy land, . o o Gentlemen, wo ape Licre us Domiocryts,—iembers of & political parsy which has a long aud glorious piatory, Tat ua n anr dutien thin winter recall and revise those prineiples, the £.Lhrwi malntenance of which by the falliers af our parly secured it tor o long a yeriod the confidehes and support of the people. ‘Fhis is another proposition which is going to rouso the Democratic cchoes, What is this ** fnspiration of the Democratic party " ? What is this *“primitive strength and authori. ty” which Mr, Lasan wishes to nco rovived this winter, and which ko puts forth in such a plausible manner? Nothing more nor less than the old Democratic doctrine of * Stato Sovereignty,” with all the daugers and abuses that it implics,~the doctrine that the Federal Union iy but n partnership or leagne of States, in which ench is jndependent and freo to do ns it plenses, even to the right of Hocession, whenever it Is so dinpored. 1t was that Democratio doetrine which led to the terrible Civil War § which uphold slavery with all its abuses and cruelties; which drove the Suprome Court to mnake the Drnen Scorr de- cision; wlich sct up idoas inimieal to the Union of the States; which took chinrgo of fifteen Stale Governments and set them up 04 independent of tlo Federal Government; which filled lundreds of thousands of men in tho North with the same ruinons principles; which involved the country in its tremendous dobt; which fitled the cometeries with the very flower of Northern and Southern yonth and the whole conntry with widows and orphans. And this is what rouses an cchio in every Democratic heart! This is what Mr, Lavan desiros the Democratio party to * re- enll and revive ” this winter! We lind hoped this destructive doctrine was dead and buried, aud that this inglorious history of tho Demo- cratie party was not to bo revived ; but it now appears that the party which commenced by destroying the Civil Servico and nlmost de- stroyed the Union is now bent npon destroy- ing the hope that all thesa bitter mamories had passed awny, and vestoring once moro that woful dogmn of State Sovereignly, in. stead of burying it forover and atoning for its offenses of the past by giving some guar. anleo for the future. BOUTHERN CLAIMS BEFORE CONGRESS. Trr TrisuNe has auticipated, ever sinco it has been known that thers is a large Demo-. cratic majority in.the popular branch of the present Congress, that desperato efforts would be mado to introduce and ollow claims agningt the Government growing ont of tho ‘War of Rebellion, heretofore excluded by the bar of disloyalty on the part of tho claimants, Our Iater Washington advices indicate that this fear is well-grounded. Tho wny has been partly opened in tho past by the estab. lisbment of the Southern Claima Commission, whoso lifo hins been extended frem timo to time, and -whose provinco hns been to ex. amine into claims for damnges suffered by Southerners who wero trie to tho Union, But, even under this restriction, it is evident that & vehiclo was furnished for disloyal claimands to get a hearing, and many of them on an uncontested er-parte sinte- ment, There have been 22,000 claims presented to this Commission, nggregat- ing more than £60,000,000. While the greast bulk of theso has been disallowed on nccount of digloyalty, there is littla doubt that men in open rebellion agamst the Government or in full sympathy with tho Rebels have been reimbursed for their losses incidont to the War, Ours is the only Gov- ernmont in the world that undertakes to ro- imburse losses that grow out of a war, and it was found necessary to reduce the principle of international law (that treason is a for- feituro of property-rights) to n statuto; and on March 2, 1847, the following joint resalu- tion was ndopted by Congress: That, uptil otherwiao ordered, it shall be unlawful for any officer of the United Staten Government to pay nny mocount or demand sgafnst sajd Government which sccrued or esisted prior to April 18, 1901, in favor of apy person who promoted, encouragod, or in any manner sustained the late Robellion ; or in favor of apy perion who, during aadd Rebellion, wss not Xuown to bo opposed theroto, and distinctly (n favor of ita supprasion ; and no pardon heretofgre granted, or hereaftor to be granted, shall authorize tho payment ot puch sccount, clatm, or domand, uutil thin resolution {a modiled or repealed: Provfied, That this resolu- tion shall not ba conatrued to probibit the psymeat of claims founded upon contracta made by any of the Departments, when auch cluima wero assignod, or con- traoted to be asaigned, prior to April 1, 18G1, to credit- ors of aald contractors, loyal cltizens of loyal Biates, in payment of dobts incurred prior fo March 1, 1861, Thoe first atep toward the admission of Boathern dialoyal claims will be the repeal of this resolution, and there will unquestion~ ably be an cffort mado to bring it about. How much strength such n movement will assume cannot perhnps be determined till the Intter end of the session ; but every evi- dence of it must be vigorously denounced and opposed from the earlicst moment, ‘Iho repeal of the nbovo resolution will make room for claims to which there will bo no ond in number and no limit in amount, The abrogation of tha principle itself will lond not merely to an allowance of tho clrims of indi- vidunl disloyalists, but of tho corporations, public and private, and oventunlly perhaps 1o the payment for the omancipsted slaves and the debt of tho Confoderate States. Onco introdites the wedge, aud there is no prophesying what may not be squeezed in. ‘The only safognard is the strict enforcemont of tho comtmon-sonse doctrine that disloyalty is a univorsal bar nyainst any and all classos of claims against the Governmont. The character of the claima which will bo mado against the Government under this pro- posed new departare is alrendy dofined. It will admit all these individual claims for property used or rent for quarters ocaupied whoro any receipts were given, and without ony referonco to the loyalty or disloyalty of the claimants. The old claim of tho census- tokors of 1860 in the Houthern Btates will then bo recognized, the bar to the paymont of which has been thnt nll claim was forfeited by subsequent sccession and rabellion against the Governinent, ‘The ante-bellum mail-con- tractors will aluo come in under the new dis. pensation; thot is, those having contracts for the carrying of the mails on Bouthern routes which wera cut off by the War will be pald asif they had fulfilled their contracts, In the same category belong tho Postmasters of tho Bouthern States, who claiin that they had lossea in postage-stampaon hand ; we pro- sumo they will also sot up aclaim for poy during the entire interregnum, when the United States bad no Tostmasters in the citica whero they were last locuted, Alltheso claimants will not, of ocourse, Lo satisfied with the original face of their alleged losses on account of the War, but will also demand iuterest thercon for the fifteon years during which thoy Lave been out of the money, ‘The allowance of the principal will carry with it au allowancoe of the intorost, ©Of a kiudred nature with {lose clalms for direct monoy-allowance as a roeward for robell. ion aro the proposed ralds on the 'Tressury for the recovery of money paid into it, or re- luaso from obligations to the Government. ‘Thus thero was a cotton-tax for two years—3 cents per pound on the erop of 1866 and 2} conts on that of 1867—which tho Bouthern- ers want rofunded, though thore was certain. ly more justico in lovyinga tax on a product which war bringing them ligher prices than ever before, and to help pay the oxpenscs of a war they had brought on by treason, than it wns to levy special taxes upon the Northern patrints who had put down the Jebellion, 1f thers is any refunding of the eotton-tax, thero will be u inuch better ¢lnim on the part of tho Northerners for tho war.tnxes they pnid. There will likewise lio n movement in belnlf of the Sonthern railronds to eseape the payment of tho Governmont claims for the properly sold to them on eredit afler the War, which nlone ennbled them to resumo business, which was probably the greatest boon that could have been conferred on the Southern people, and which did more than anything clse to ssist their revival in commerce, 'Then these ro- ealled ‘*claimy,” either for reimbursement for losses on nccount of disloyalty or for im. munity from debts justly due, will bo fol- lowed by schemes for vast improvementa at Government expense, in favor of which the Sontherners are disposed to waive their cher- isbed doctrine of States’ Rights. If wo ignore the prineiplo invelved in this raid of the disloyulists, tho practical ques. tion arises: Who is to pay all theso clnims ? ‘This is n question which every intelligent citizen who is not a clain-broker will ask hiy Congressionnl Ttepresentative, whether he comes from tho South or the North. ‘Theso claims ean ouly be pnid by taxation. The Government revenues nre not now in excess of the Government expenses, and aro uot likely to be for some time to come. 'There is no way to meet any cxtraordinary demand 1ipon the Government, then, except by fore- ing the moncy from the peopla by increased taxation, or increasing the public debt, which amounts to the same thing. The South end the North are one country ogain, and the former must contribute its share both now and in the future to the pay- ment of auy Government moneys on any nc- count. Are the Southern people, as a whole, any moro willing than the Northern pouple to throw open the Public Trensury to a Lorde of claim-ngents ? T'his is the question which every Sonthern Congressman who desires lo keep faith with his constituents must ask himself. Tor ovon the brso considerntion of Southern logalty to the * Lost Cnuso " can- not change tho fact that Government moneys paid out now or in the fulure on account of Southern claims will never reach tho suffor- ers, cither loyal or disloyal, but will bo di- vided awmong tho claim-agents, brokers, at- torneys, lobbyists,—perhnps also among tho Congressmen who vote to allow them. The burden is ono tho American eoplo will not enduro with patience, and the' Democratic Congress had better sparo itself the disgrace of ncourso that will never be permitted to obtain, and can only result in their over- whelming defeat and discomfiture. —— A PYRAMID ON II8 APEX, ‘Tho theorotical financiers nro putting their predictions and opinions abont the London money market on record freely, Baoruor, editor of the London Feonomixt, Boxasy Price, Professor of Palitical Economy at Ox- ford, Jxvoys, nuthor of the best book yet published on ¢ Money,” all agreo that thero is sowothing radically and dangerously wrong about the prosent system. Bicroor devotes somo very earnest pagos in his * Lomb:rd Street " to the porils of the One-Reserve ar- rangemnent of the English banks. In his chapter on tho Dank of England and tho moucy market, Jrvoss prophesics that if something is not done to keep the reserve of cash in highor proportion to the linbilitios of the banks there will bo pauics in the future moro disnstrous thau those in the post. Taking tho averags of the enlenlations of Paranave and dMoxox, it apponrs that the nctual cash rosorvo is mot more than & per cent of tho liabilitics of tho banks. The en- tire fabric of England's commerco and finance would bo overthrown if her mer- chants nnd othor depositors should, on an emorgoncy, nok for mors than one-twonticth of tho snms owed them. Should: they do this, tho banks wonld suspend paymont, and ruin would be universal. In a letter to the Hinarncier, Prof. Bonaxy Prioe nttacks the Bank of England for its wistaken policy sbout the relation of the rate of discount to tho export of gold. It is a maxim with the Bauk Directory to raise the rate of discount whenever gold 18 going out of the country to such an oxtent k8 to deplete the reserves. They did this Intely, roising the rate from 2 to 4 per cent, and brought upon themselves tho exposure of thoir loss of their his- torio conrol over the monoy-market, The Bank raised its rate to 4 per cont, but tho joint-stock banks rofused, ns they had never dono before, to follow the lond, 'They resisted the nttompt of the Bank of England to make all merchants pay an ox- tra chargo for their dikcounts becnuse of the political demand from Germany for gold. ‘fhe Professor dischargos o grest deal of rhotorio at the hoeads of the Bank of England Directors. He calls their theory *¢ fortuitouy Qoctrine, built on no nnalysis, no knowledge, but on narbitrary and unscientific assump. tion,” ete. Thin ix not all that is to bo said, Tho theory that the export of gold necded to bo watched and checked any more than any other export would be, of course, absurd ina froe money-market, But the money-market is not freo. ‘'ho Bank oharter, the Lnnk act, and other intorfering causes, have altogethor changed its nataral condition. For instauce, tho resorve, inutend of belng kept by ench bank aguinst its own liabilities, ia by suceessivo contralizations acoumulated in the DBank of England. The reason for tho son- sitiveness of the Banlk with regard to an ex- port of gold becomes apparent enough when the facts are known thut the cash reserve of the English banks does not amount to more than one-twentieth of their linbilities ; that most of this is in the Bank of England, and that inatant ruin would overwhelm all Xu. gland if that wero not fortheoming when de- manded. Theory and practice can never sgroe till praclico Is mado right. There i no living English economist of rank who does not reprobate tho orgauization of tho Bank of England, Jt is idle for Prof, Pnick to full foul of practices rondered natural if not necessary by the oxceeding Instability of British finance. Tho terriblo appre- hension constantly beforo the Dank of England Directors is that referred to in the 1ast number of the London Eeonomist, which snys that if the prosent systew collapsos, ‘‘the speoial and peeuliar crodit of England in tho money-market will perish withit." Tho Eeonomist takes u hopeful view of the future, but the strongest phrase in which it can put its hopes is, that while **a peculiar, a frail, an auomalous system it must always bo, we think thoro is no vital essential defoct in it, and that therefore it may last.” 1t may last ) There is somathiug frightening about such a form of speech, It carries the mind fors W to a catastrophe greator than any the monetary world has yet seen,—a dignster which will involve nations in ruin, and reduce an Empire to the rauk of o third-rate power. It isa sober fact thnt to nothing toss than this do the discussions of English cconomists now point, ** Carsanona” Ginea mny find his country wreelked on the “ rocks nhend " sooner than aven he expected, 'I'ho greed of British bank.stockholders grows by the dividends it feeds on. More of tho reserves are boldly ventured to incrense the profits; and the wenlth of the richest coun. try in tho world stands, as hos beon often aptly raid, a pyramid ou its apox. Whon the pyramid comes down. WHAT A GREENBACKER BAYS. Sote days ngo, 'T'ne TninoNk cstablished, Dby incontrovertiblo argument, three facts,— firat, that we could buy necesaaries and other goods from foreign nations only if our cur- rency was oxchangenble, by somo process or other, for the world's curroncy, gold; second, that tho nmount of gold given for each dollar of tho paper thus exchanged fized the value or purchasing power of tho whole paper cur- rency in the United Bintes; and third, that gold-brokers exchianged gold for greenbacks mainly boeause there isa probability of ul- timnto redemption of the Iatter, Wo nsked: “1ow, then, if gold-redemption is openly abandoued, even in theory, is our currency to Do exchanged into that of tho world and tho absolutely necosanry intornational exchnnges effected?” In roply to this question, wo hnve recoived the longthy, rvambling, dis- jointed, and illogieal letter from Nr, 8. D. Canresten which wo publish else- where, If hodid not oxpressly say that ho was trying to answer the question, wo should never have suspocted the fact from anything in his long letter. 'We should have painfully toiled through it, noticed such gross errors in simple mntters of fact as the statement that the import duties annually amount to ** near 200,000,000,” instend of 160,000,000, ns is tha fact, nud the astounding declaration that gold “ went down into tha 703" after tho pns- sngo of tho Surnyax bill, or that the note. holders had lost $1,085,000 on broken Na- tionnl Banks, whareas they naver lost a cent on theso notes; and should have laid down the epistle, silently wondering what the writer was driving nt, and whether his eon- seionce would excuso his wasting 80 much popor and space on such worthless words, But Mr. OAureNTER e8snys, s o membor of tho ** Exceutivo Cominittoe” of the ** National Indopendent Party,” and a signer of its plat- form and call, to give a satisfactory repty to the query we put. We conflne ousselves, then, to this one point. making no reference to tho mass of irrelevant rubbish with which ho overlonds his pages snd wenrisomoly lengthens his letter. On the suppasition that his premise is por- Toctly corroct, his conclusion is wholly wrong. Ho wnys that money s * valuable in propor- tion to the valusble uses it mny be put to," and that the Government’s allowing import duties to ho pnid in greonbacks instead of gold would so increase the use of grecnbacks that they would become as valuable as gold. Theso few words, by the way, express overy- thing there is in tho nature of reply to our question in Mr. Canrestes’s manuscript. Now let us see. Clenring-house statements and goueral trade statistics show that the proporty sold and transfarred in this country and tho wages paid nmount to between eight and ten billions of dollars (8,000,000, 000 and $10,000,000,000) every yoar. Groonbacks nnd bank notes aro valuable for offecting nll thomo exchanges. It they wero also ** valuable " for paying the sdditional $160,000,000 of import duties, how much would this increase thoir uses nnd therefore their value ? Just 2 per cent, since the §160,000,000 isbut one-fiftieth of $8,000,- 000,000, or whole volumo of transactions. As tho greenback now vacillates at nbout 8 cents on the dollar, 1t would, on the supposi- tion that Mr, Canrexren's promise and method of rénsoning are corvect, be worth 2 per ocant more, or aboat 87§ cents, The whole effect, thercfore, of his flamboyaunt sobome of greenbacks for duties would be, nceording ta his own logic, to raise tho greons back 1§ cents in valus on the dolar, or, in other words, to make what might be called the * standard basis ™ of the groonback dol- lar, the figures below nnd above whick its worth constantlr Tuctuates, 87§ instead of 86 centa, But tho brokers are now willing to givo s general average of 86 cents in gold for the paper “‘dollar,” first, bocause it is a legal. tonder for existing debts, and second, be. cause thero is o good chance of its ultimate redemption by the Government (and every note bears on its face & promise to redeem). Mr. CsnrENTRR mnkes some passing referenco to redomption in the future by the Govern- ment, but gives no explanation of how it is to be done when the greoubacks ars doubled in amount and the bank notes retired; nor what reason he ks for thus contradioting the plain, irredoomabla position of his redemp. tionless Indopendent party, as shown by the call ho signed a fow days ago,—a call that flatly negatives tho idea of redemption nt any time. Hig party's plan would destroy all chance or Lope of rodemption, while it would doublo the volume of greenbacks, and would so cut off tho groat reason for the present willingmess of the brokers to pay even 80 conta for the greenback, The value of tho Ilatter, there. fore, instead of rising to 873 oonts, would fall to 77, 67, &7, aud ko down, nnd a8 gaon as the oxisting debts were paid off in the stuff,—as soon, that is, as every creditor had beenlegally chontedout of a part of his dues,— our enrrency would becomo worth continual- ly less and less, and finally sink to nothing. The Continental currency was a logal-tunder, reeelvable for all dués to the Government. What did it become worth ? The pnyment of the import duties 'in gold provides tho Government with the means of paying the intercst on the national debt. If theso dutics were paid in greenbacks, how would tho Government got the $104,000,000 in gold needed overy year for this purpose ? It could do so only by selling ita greenbacks to gold-brokors for coin with which to pro- cure the gold necessary to pay the interest on its bonds. Could the Government buy gold for its notes on any better terms than mer- chants oan with which to pay duties? What would be gained by receiving greenbacks from the importers for duties and thon hav- ing to sell those greenbacks Jor gold with which to maot tho interest on the bonds? How would that process imnprove the value of tho greenbacks, or reduce the gold premium ¥ We trust taat Mr, Oasrenres's Independent party do not propose to ropudiate the gold intorest and compel the publio creditors to necept doprociated, irredeomable motes for intercat ou their bonds, If thatis their pro- gramme, they will find but few Americans dishonest enough to indorse the villainy or willing to support a war against Great Brit- ain, Holland, and Germany, whose Govern- wents would hardly stand by idly and sce their citizens swindled out of a thousand millions of their money. ¥ In sddition tc the greenbacks the Govern- mont would have to sell to procure géld to pay interest on itadebt, tho morchants would atill be obliged to soll their paper currency to pot gold to pay balances of trade, and the price in goldwhicl thamarchantsand the Goy- ernment conld gel for thy notes wold in com- potition with each other would determino the valuo or purchasing power of the grecubacks, The discount would certainly not be less than itisnow. As the Independonta do not po- poso aver to redeem the greonbacks, who can tell how much the gold-brokera would give for them? o is o rash man who will aflivm that thoy would give 50 cents on tho dollar, It is thus seen, without multiplying words, that Mr, Canvextan's schemo to abolish coin for dutiea wonld accomplish no good, nnd might do vast harm, and that it would bring tho country, not one inch nenrer to a par cur- rency or to coin redemption of voles. Thoe rceont docision of Judge JamrsoN with referenoo to the burglary charged against Frang I6o and Ciranees Frysy, olthough it appenrs to be within tho law, nevertleless foly o dangerous precedont, These two men had broken into n bullding in the night-timo with the intent to commit n felony, So farit was cloarly enough a caso of burglary. The statulo reads: ** Whoever In tho night-tima willfully, and maliciously, and forcibly breaks and onters, or willfully and maliciously, with- out force (the doors or windows being open), enters into any dwelling-houss, kitchen, office, shop, storchouse, warclionse, malt- houso, stilling-house, mill, pottery, factory, water-craft, freight or passongor railrond.car, church, meeting-houso, or any other building, with the intent to commit murder, robbery, rape, mayhem, Inrceny, or othet fclony, shall bo deemed guilty of burglary,” ote. The statutes also define felovy as a crime punish- able by death or imprisonment in the Peni- tontinry, In this case, ns the thieves had taken but &4 worth of goods, and as nothing under $15 cau send A man to the Peniten- tinry, their counsul raised the point tliat, a3 no felony hiad been committed, the indict- ment for burglary could not hold, and the Court sustriued the point. If these men hind broken into tho building in the night-timo with tho intention of committing n felony, nnd had stolen nothing at all, they would havo been convieted, and that they cannot bo convicted of burglary for stealiug a less sum than constitutes & felony only shows that the law ouglit to bo remodeled. The fashion of colebrating centonaries boa now being takon up by the Italians, who, juaditi- tion to tho Miener ANnero Contonary observed this year, will noxt yoar celobrate thn contenary of tho piano. They elaim that Cunsstororo had tho first concaption of tho piano, that is of n rort of hurpsicbord {u which tho strings should bo struok instead of twanged, and mado suci sn lnstroment in 1716, Tho Lall Mall Garclle says of bim and his fnstrument : 1f CirniaTorono gava tn what was Toslly & planoforte ihe expresalve namo whichi at onco charactorices tust {nstiument and sliows (n what reapoct it ditfers from ila_predocessor the hurpaishord, the question an {0 who nvented the plano could uot but be declled in lils fuvor, ‘Thore must bave been aowething defootive, however, in his method of manufucture; for 4t i3 certaiu that noarly half s contury later the planoforte was attll regarded a8 a noveity, ‘Tho Italiana witl not ba left undirturbed ln their pinno claim. The Germans, headed by Lanzr, awsign tho harpsichord to Mozanr. Tho English divido tho honors bet seou Diopiy and Masox, and Saxony claims that BILULBMANN fn- vented it. In a conversntion wizh a Now York World roporter, Sherift Dexitaar, who pormitted Boss TweED to cscapo, snoke as follows : # Pwren has complaind of Lis head vory much of Iste, H3 has fraquently tolil me that hie suifered great pain there, and no 1 Jet him drive out,” “ By wiiat suthority did Tweep loavo Ludlow Blrost Jnit to-day 77 “ Well, 1t was on my authorily, I'vo often taken prisoners out In thit way. It quita customary, you know, swhen they ate in thera on civil procose.!” # Did you dine with him at the Claremont Hotel ono day luat wonk?" *Yey; Deputy Rhonfl Haorx, myrelf, and Mr, CAMPASLL wero of tho parts, Wo Alopped st bis houas an the way back, Whenovor wa went out to driva it was cuntomary £o atap At his honse on the way nome, Mr, Trxrn has not received more viritors than usttal within the rast thees or four days, Ithink bis ron WiLLIAM {s tlio only person who bis Leen to 80 him lately, PERSONAL, Even the worm will turn when trod upon ; will nob Maguire ? Geu. Logan waa reported l1ast nizht us much better, and still improving, Let no fair woman tamrt thy eliding mind Tith garmenta gatbored in & knot bebind, —Heval, 8.C. 8.0, Whilsky 18 geperally consldersd a lighly ine flammablo material, but it s sometimos useful as a Bavcook Extlogaishor, Minieter Washburne and his brother, tho Gen- eral from Minneaota, aro about to mrke a tour of Egypt ana Turikey for throe moaths, Tickete to the funeral of Dojazat, the famoua Fronch actross, were fgsucd without limit, and, though the ecnpacity of the chtrch was 4,500, thonsanda were unablo to gain admittance. Miss Wilholmina Townsond, aged 16, dropned desd while dancing at » social party in Chelsca, Mass., WMot Tauraday nigbt. This is an awfol warning against dropping doad, il you can help it. Thero Is a foud ¢all for Magnire, tho man who atooped to apprapriato tho nawa of the Sunday Lectura Soclety, to como forward aud coufoas limeelf, Onnnot Mawuir® be gosded 1n desper- ation to dofead bimsolf ? - ‘The Now York Jerald publishes in fac-similo tho dispatch attriouted to Gen. Babceock, sont from Washington as a warning to the 8¢, Louta Whisky Ring, and sigged *Byiph.” Iorsona scquaintod with Gen, Babcook's bandwriting can Judge by this meana whether bie is gullty or not. TheTichborns Clalmant, sinco bis conflnoment in prisco, haa been reduced from 233 to 120 pounds, and bo looks a4 if Lo ‘had not washod his face for six weeks, Dr, Kenoaly publisties theso pathetio atatementa with tho manifost purpose of making sywpathy for tho prisonor, The 8t. Louls Times, noticing ox-Senator Car- pentar's threat of puclog Tur Trinuxe for libel, says: * It by alwaya tho truth thot burts” DBy the way, Mr. Carpoater 'never suod any of tho. newspapers which reposted tho Long Dranch neandal, though he saveral times shreatoncd to do so. Titiens has recovered from hor racent Bevaro illuoss, and Is advertised to siug fu Daltimore to-morrow night. A card from au eminant phy- slcisn, publishied {n the Now York fierald, tostl- fiea to her physical incapacity to fulflll recent engagements, aud to her completo restoration to health, : The Provideuce Journal thinks Mr. Wiltiam Winter's poom, read at the dedication of the P'oa monument, is * unsuipasaed by any elegiac poem {n the language " for ** oxquisite truth and teuderness of fonling.” The New York Tribune, to whioh Mr, Winter is sttached, repriuts the testimonial. Mr. Jobn Broughsm, happoniog to be scated by tho sldo of Coroner Counery, of New York, aud feoling thirucy, said to that gevtleman, e \What will you drink A little claret,” ro- aponded bis frieud, ' Claret!” oxclalmod Mr. Brougham, ** Claret fors Coronor ! Why, there's no body in tha I A gentlemsu once oslled on the Iste Mr. Astor to sohicit & doustion for a claritable purpose. He gave 5. ¢ Why, Mr. Astor,” said the solic- itor, '*how is it you give so little? Your son John Jacob gave us $100.” ** Well," replied the old man, * Hecould sffordit. Ho has a rich fatuor and I havou's,” The Graphio retracts tho statement to which 1t onca gyve ourrency, that the New York Nation was {0 pass into tho hands of Mr. Daranm and be used »s & programme in the Ihppodrome. The rutmor, {t apps ffooted the Mipp: burineen unfavorably, and ati of Mr, Barnugy offects hisve voon #old out tinder the hamm The story of Theadote Wachtel's lifa 1ygy untilio that of **'The Postilion ot Lnujume.l. which wam writien for him, 2odin whiey he mada his fires dintinet imorecsion inonty-tep, years ago, Wacheel wan 8 conchman or grogy origltally, and was aducated by a gantlamag why accidontally hontd hia volco, Ho lert his gy wife, who nas an illsterato woman, and manjey & lady of rauk but no greal fortuna, A remnrkably clever raview of Browning'a Ty voem, **Tho Ton Album," apposrs fn the Ny York Tribunc. It s dose in vorse, and Bigay! **T," which may stand for Divaed Taylor, Ty, styla is a good imitation of Biwuing. The ™ viawer thinky the title ol the 2 m might ag ol liavo beou ** Tho flotel Register™ a8 Ty Iny Album,” aud he saema to bo a littls dubjony u to whothor Browning's verse has any vense lyjy The gloomy play, *Roaa Blichel,” wiiey It having a groat succeas at the Unlou Squara They, tra in Now Yoik. will not, Mra, Barobam thig, reduco tho number of suicidos in this Boaton of bustuens doprossion and sufforing. A repor of a suictdo beaded A Man Kills Himsoit Bacaneq He Coutdn’t Suvport His Family " was econly rond in hor hinaring, and & small bay fulioitonily romarkeds **What s fosll Why didn't by iy hiy family?™ Much bottor do 80, perliapy, thy, to leave them to starvo alons. Mr. Korr, tho now Speakor, is a tall, shately man, more than 6 feot o belght, brosd-uaoy), derad, with o hoad well polsed, a full gruwy o btown bair, aod oyos that seem to road You through at o glance. s acholarship is of 1h, highast order; books aro bis deareat compan. ions, and ia Judguoent of mon ia kaon and diy. criminating. Tho man ls wholly practica), Lhero fs wo element of humer or romancoatoy| Lim, and bis munnors aro digollod almost gy auaterity, Ilo {447 yeary old. Chorles Francla Adams wonld hava by choson Contounial Orator, instand of Mr, Erar, Lind it not heon for tho viroloat haatil'ty of 1, Loring, of whom the New York Tyitune re marke: “All the poison of his vapld natay seems to have boen drawn out by tho politiey] sutagonisms uf tha last two or thrss years o Massachuselts, and under 1ts worklugs ho by schioved the most couspicuous act of hig lite, 1o has provented tho solrction of Charley Francia Adams a8 tho Oretor of the Cunhunifl, and e deaorvaa the cradit of his sucaess,” MOTEL ARRNIVALS, Houne—J. 1, Holmaan, Indlanapotis: 1., . ifllwaukea; E1 Costor; New Yorks A, G, Cook, Lowel; J. A, Boyd, . & O. K. R.: G, B, Sorigey Columbun, D , Hartford ; J, B, Richs aaon, Utien? Lo AL M, Tifin, Colmtn, New York; 1% 11, Ketcbam, Saginaw: F. H, Giaddm, Tlerce, Orand Topide: G, A, Millarg! rand_I's 1:—I, 8, Durant, Riciae} Little, New York; W, W, Moorland, Csnads. Taller, snd Jokn A, Johnaon, Midison; F. M i, Des Motaon ; W, C. Van Horn, LaCrobey; 3. 1 Gosixill, Mywavkeo ; J. B, Millar, Des Molnes} B, end 3 'J, ¥, Parsons, Hartforas Henry Ifam, Ohfo 3 1L, I, L TFrobe, Loulsvills; F. P, Roed, Cinclnnnti Guliford, Baltimore; 3ix, Kankikoo. ... Tremont Houss—J, D. Dutey, cinnatt: T, J, Auderson, A, T, & B, F, R, R, Caltup, Tudiunapouls; L. H, Abbey, New York Davonport, New York; T, D. Cumemin timore; 'FI. C, Barnabea Hon. ' John W, Carey; Hon, 15, Baraes, N D, AL Tendrick, Rowe, Buerld n, IIl, man Honge—Th0 1 ', Kingavury, itkess Qeorge I, Hurlow, Socretary of Btats, Nlinols; J, 114ll, Buperintendent Pan Ifandlo Raffrosd; 4. Courten, New York; B, A, Gladding, New Yorgs the Hom. M. D, flopkins reorid; E H. Tood, Winona, Miun.; T Folsom, Cincinnail; Cal, M, 'B. Tu-b, Buffalo’ the Hon, H, D, Demonty Diixon, TiL; N, 0, Warnor, Rockford; 1K, O, Larle Golorado; 'the on, 1, Hay, Ponndglvania’ A 3, Iovejoy, Sackesonvitlo,...Uardner " House—E, R, Duvison, Routucky; A fialloy, Now Yoris Mr. and Mra, Jerome, Angustas W, if, Popa, Wateriows, N, .3 W. F., Touker, dilsvaukes, OUR NAVY, Sacretary fMobeson’s RReport. Wasiizaroy, D, C., Deo, 0.—Soczetary Rods son's report of tha naval sorvico for the yesr sliows that tho number of vosasls of every cliss and deecription now borne on tha navy reginter 8 147, carryiog 1,195 guus, and 152,492 tona masse uremozt. Of these, many aro sailing vossels of little or no valae aa part of tho efficiont foree for oithier tho orutring or fighting porposss of the prosont day. The stoam veasels as distinguished from iron-clads and torpodo-ahips, number 95, , of which 25 are tugs. Of tio remamnder 33 ste ready for uso whon roquired, Qur iron-clad floet connists of 20 vessels, 21 of the monlior type, 2 torpedo-ships, and 3 uever Isuschod, Al tho vossels (8v) aro available, inoluding 16 lron- claJs sud 2 torpedo-boats. Details aro gives of tho opaiatiuud of tha fleet on each of thesix auations, Tho Secretary has tha following to say upon TIIE CONDITION OF TRE NAVY: Itia gratifving to be mble. to report that the pasyisnowinasi < randmoraefclont con- ditlon thau it Doy +. ¢ been at suy (ime aioce the commoncement of your Adm'nististion, Ib {a noe uul? very strong in numver aud la the clasres of its ahips, but what thera are of them aroio a8 good condition as it iy practicable to keop such matorials of war undor the various and trying condit.ons to which they ars, in the unsnceof tbair service, coustantly exposed, A - far larger proportion tham usual ut om woodon Bbips are ready for woryl Our lrom« ciad fleet 18 ofilo,0at, our atorabousos re fairly stocked with ordnauce oquipments aud supplies, and wo have on Lsud a fair supply of the pest material for the vullding sod ropair of shipe. Tho service bag bosa placed in this stateol . eflictonuy, comnared with what existed a fen yeass ago, by utilizing, excapt in the caseo) ecigbt sloops” built nuder special sppropriation, what oould be epared from the curreut appro- priations, and from nppropriticns mads during the Cubau omergoncy, und apylying those mesnt practicaliy ond wioadily voward puitiog what wa worth 8aving of the navy as 1t oxiated in as PERMANENT GOOD CONDITION o8 tho atate of tho ships sud means at com- mand permitted. The wisdom of the policy is, I think, il ed by tuo nmn;r'lh of var soulion to-day. 1t would also be wail, I hink, !t Congress would affurd meaus to finiel at onoe all tho repairs of tha five doublu-tur.eted moni. tors, mnoe, whon they aro finished sccording ta pregont dosign, our +iron-oiad fizet would be much more poworful, snd they sre, while undergolog repaire, useloss for any present ~purposo, and the proocess of ropaiung them out of what can be spared from curvent appropristlans not only cripples tho Dopartmont 1u all its ouhor operations, bad Iy, of couiwe, very alow. With thesa added (o it, our iron-ciad sarvico would, for purposes of defonso, proscat & vory substaubsl barrier to auything which would” cross the ssas aud at- tompt to auter our ports, PORTSMOUTI NAVY-YARD, Ponteuours, N. R., Des. 6,~Orders have boan rocelvod st tho Navy-Yard to immodiately it for sea the Ticonderoga. THE STEAMER URUGUAY. Her Filibustering Trip to Cubs. Nxw Yong, Deo. 6.—Col. Roeads, who oom: manded tho last expedition to Cubs, in the steamer Urugusy, made a report last eveniog to the associstion of the Indopondencis do Cubs. Tihe veasel, tie gald, was wholly uafit for sarvios and could attain littla over 5 miles an bour. oz supply of coal waa insafiicient, and the provis fong short. When they rescnod Cubs, nine men wero landod to reconaoiter, bat the plscs 'Wwaa to daogerous to vessels that it waa jmpos- siblo to laud auy part of her olrguo:llll':‘" diers. Meanwhile, the panisb suthorities b 4 beon Informed, aud thoy had to make thou mont epeed to Jamaca, The arm,!‘lnmluhll wore of an nferior qality, He blamed the sgeute in this city for uegligonce in fitwg 00 tha vessol, E. Studebaker, South GLAD TO HEAR IT. Svecral Dunatah to Ths Chiogae Triduns Janzavires, I, Dec. 6.—The Jaesvllle oot ton mil), althongh only runcing for six months, 18 unsble to supply mfifl'fifi“ ::3“1:; l‘m rtetors wi an n :;fl;:. p':l"gny manufsotured 45,720 yards last weak on 200 looma. — g THE ARKANSAS LEGISLATURE. Tarrex Roox, Ark,, Dec. 6,—Both Houses i the Geueral Asssmbly are now holding $wo 8 three soasiops per day, Final adjourameat takea place on Friday, _—e———— At tho apaual election of officers of the Kew Orloasin Cotton Exolsuge yeatordsy, all the old ofticers wera re-siected ezcept the Vice- T dent, Mr, John B. Latitte, bo haviug declios: sotve, T L. Airy was elecied Vice-