Chicago Daily Tribune Newspaper, December 10, 1875, Page 4

TIHE CHICAGO 'TRIBUNE: FRIDAY, DECEMBER 10, 1875 TERMS OF THE TRIBUNE BATTR OF STRRCAIPTION (FATANLY TN ANVANCE), Pantage I'repnld nt this OMee. rally Kdition, pot-pald, | 813.00 1.00 Parts of e Matled ta any sddrms vOU! Bunday Edition Sheer. ... T Weskly, po i WFRELY EDITION, FONTPAID. 8 00) ryoar., Civb ol Hire: et eupy. Clob of twaniy, per oo Specimen coples sent free, To prevent delay and mintakes, bo wore and give Port-Ofce addrean in full, fucluding Stateand Conuty. fiemittances may be made either by draft, express, Post-Oflico order, or {n registered fetters, at our risk, TERMS TO CITY SUBKCRIDENA, Dafly, delivered, Bundsy excepted, 23 cents per wesk, Datly, delivered, Bundey included, 0 centa per weck, Address THE TRIBUNE COMPANY, Corner Madison anid Doarborn-ata.. Chicago, il e AMUSEMENTS, TMOOLLY'S THEATHE~Randalph sireet, betwesn Clark and Lasialle, Catifornia Miustrels, NEW CHICAGD THEATRE~Clark strest, betwean Ilandol,ih and Lake, Eugagomeniof Kelly'k Leon's Miustrels, ADELPII THEATRE—Dearhorn Mource. Varlaty eutertalument, street, corner MeVICKER'S THEATRE~Madiaon atreet, batweon Deatborn aud Siate, Lngagement of Alsy Howard, “Eoifd silver,” 4on00D' MUSEDM-—Manros atreet, betwern Dear- “g snd gmo. Alternoon : anilfa,” Evenlng: SOCIETY MEETINGS COVENANT LODGE, No, 610, A, F, & A, M.~Spo- il communlcation this (Frulay) evening at 1:10 o'clock, at Corintbian Hall, 187 Kiuzie-at,, for work on {ho 0, Degren, Viaiing ratlron coriinlly nvited, Uy order of the W, 3, WL KEKR, Sece *ONIENTAL LODGE, LODOE, No. 33, A, F. and A M.—Hall, 122 LaSalle-at,~8pecial Comm: atf i this (Priday) evenloy o'elock, for work on the TLird Degres, Visitors cordiaily fuvitad to meot with un, By ordor of tlie Master, T. N. TUOREL, Hec’y, WASHINGTON CHAPTER, No, 41, R, A, M.—Spec. 1al Convacation thia (Friday) aflernoon and evensug at 2 and 520, for work on the R, A, Degres, Viaiting Companiots cordially invitet, Hiy ordnr of tho IL P, CHAS, J. TROWBKIDGE, Bec. Ehe Chicagy Tribune, Friday Morning, Docombor 10, 1875, Greenbacks at tho New York Gold Ex. ehange yesterday opened at 873 and closed ot & declino of a sbado from that figure, The Bignal-Service manipulator at Wash. ton, undismayed by recent unfortunate pre- dictious, gives ont that the inbabitants of the Upper Lake region may to-day look for clear- ing weather, with southwest winds and higher temperature. That is p sigoificant dispatch which says that the Democrnts mean to adjourn tho* House over Monday in order to escapo the expectod deluge of bills, resolutions, ete., on that day. ‘They have evidently heard of Bridgoport Banszy aud bis bills, The Sensta yostorday confirmed the Presi- dent's appointments of Zacuantan CuANDLER, Becretary of the Interior; Epwanps Prenne- PONT, Attornoy-General; Joux C. New, Troas~ urer of the United States; and Jony Quovoy Baorst, Commiscioner of Tndinn Affairs. 1t is announced that Mr, Brae early uext week will claim the attention of Congress in » formal specch on the questions of the cur- roncy and finonce, His views, of conrse, will ba of the pronounced hard-monoy type, and he will poy his respects to the financial follics and heresies of tho Democracy. —— The cable announcos tho death at Dot- mold, Germany, yosterday, of Pavr Frepenio Esax, Lrorowp, Princo of Lippe-Dotmold, In this Principality, it will be romombored, is locatod the colossal status of Hensanw, re- eently erocted in commomoration of his de- struction of the Roman logions under Vanus, — Gov. Inwy, of Californis, in his inangaral Messago yesterday, urged that the State en- deavor to bring about such s modification of . the treaty botween the Usited States nnd China as will result in the restriction of Chi- nese immigration. Ho also recommended thal the Logislatura demand n general re- sumption of apucie payments at the earliost ‘possible momen! In tbe list of Stnnding Committees an- wounced by the Chairman of the Board of County Commissioners, the Ring members aro found to have monopolized the important Committoes, with the, single exsoption of Equalization of Taxes. The Finance, Public Charities, Public Buildings, Hospitals, and Public Servico Committeea are liopelossly given over to the Dovil-Pish clement. The aew Board and the new Conrmitteca are, if possible, worse than their predaocssors of laat yoar, —— The Hon. Joux Quinoy By, of Ohio, the nowly-appointed Commissionor of Indian Affairs, and who, it is understood, has accept- ed, is spoken of highly by those who know Lim well as 5 man of ability and experience in businesa affairs, o waa o membor of the Forty-third Congross, wns frequeratly ‘eloctod a momber of the Legislature of lsy Btate and of the Btato Board of Equalizaticn, He g been noted for his storling integrity and for Lis open opposition to all corrupt nehemes. These ara mora fitting qualifications for head of the Indinn Bureau than those which wecured the place to his predecossor, Some correspondonco has pamsed be. tween Attorney-General Prenneront and ex- Benator Iexpensoy relative to it alleged attack by the latter upon the P resident in the course of his argumest in tho Avny trinl, Mr. Pruineront very pr operly took oxcoptions to the linguage ruported to bavo been used, ond annonnced that the De- Ppaatment of Justice was not di sposed to pay 8 lawyer for going out of his way to make such an assoult wpon the President, Mr, Hrxenson, who was retained by the Govern- ment to pssist District-Attonsoy Drem in tho prosocution of the St. Loujy whisky.frhud ocases, flatly Jented having used tho disre- speottal language nseribed ‘o him by the 8¢, Louis Jo:mulu. and will forward 8 sworn tmucti;;; of what he aotualiy did esy. If he #10009/4q §n showing that be was misraported, that ¢ il probably end the matter. The Chicago produce ‘markets were moder- ately steady yesterday. Mess pork was sct- ive, and declined 256 perbrl, closing at $19.16 @19.17} cash and $10,52) for Febiuary, Lard waa rather cquiot and easler, closing at $12.82} per 1A Ibs cash and $12.20 for February, Meats were aotive and finuer, at 74 for shoulders, 10}c for short ribs, and 10}c for short clears, wll bored. Highwines were in fair demand and steady, at $1.11° per gallon. Flonr wes dull and unchanged. Wheat was leas active and irrogular, cloxing st 99}o cash and 91.00 for January, Com was qulet and stronger, elosing at 48}0 for Deosmbar, and 48e for Jaouary, Osis wate quict and firm, closing nt 303c eash and A0}e for January, Rye wns steady at GB@GR}e. Barley was quiet and stendy, cloring at 87c coah and S6ie for January, Hogs wero activa and 10@1he higher, with tho bulk of snles nt R7.00@7. Cattlo wero dull aud lower. Sheep remained firm nt $3.75@35,00 for common to choice. Ono hundred dollars in gold would buy $114.50 in greonbacks a¢ tha close. r——— Tt was & wiso determination on the part of the Court of Inquiry in Gien. Bancock's caso that the proceedings shall bo publie, Itisa matter that las mora general interest than army investigntions ns a rule, and it isnot for tho interest of Gen. Bancock any more than hat of the pnblio that tho latter should de. pend upon rumora and guess-work in regard to tho prbecedings from day to day. 'The Court cousists of Lieut.-Gen, Snentpay, and Maj.-Gens.- 1axcock and Terry, and Maj. Gannxen, of the West Point Acndemy, who acts nd RNecordar. Though the Couvention formally econvened yesterdny, the case will not bo openad until to.day, when the prose. cutor expects to bo prepared with a list of witnewses, It seoms that Mr. Meany Nruson has de- termined to contest the election of Crtany and Morror to the County Board. and has flled bills in the Connty Court for that purpose. ‘Ihis isn proper and patriotic proceeding. Mr. NersoN is o mon of means and n good citizen, and can afford to devoto somo of his time and money to the exposure of election frands for the public benefit. The allegations of the bill set forth that illegal votes woro cast in thirty.two precinets; that the judges in the First Precinct of the Second Warnd ro. fused to admit challongers into their room; that the judges in several other voting pre. cincts refused to comply with the law in va- rious ways named ; that the voto in the First Precinct of the Fifth Ward was not counted, andsoon, Tho claim is that these frands and irregularities were suflicient to change the result as eanvassed. Mr. Nrrsox's char- ncter leaves no room to doubt that these snits will bo prosecated to the full extent of the law and his rights, Counting only the legal votes cnst, there is no doubt whatever that ho was elected Ly n handsomo majority, and should have his seat. SOME MODIFICATIONS OF THE PRESL DENT'S PLAN OF RESUMPTION, 1t is only fair to the intelligenco and hon- esty of the American people to assume that the grent majority of them desiro as speody n return to a steady, uniform, oand amiversally recognized currency nd can be scenred with. out any violent rupturo in the existing rela- tions botween debtor and creditor or sorious disturbanes in the financisl status of the country. The number of those so depraved 23 to favor tho retention of o vacillating and illusive currency for the political benofit of demngogues and tho financinl advan. tages of speculators, nnd of those so ignorant a3 to be misled by their wild vagaries, is comparntively smnll. The formidable resistance cncountered by all plans of re- sumption is not from tho blatant and mean- ingless ravings of the shinplaster ndvocates, ‘but'from the wide-spread apprehension of tho business community that thero can be no resumption without a shock, nud the natural tendency to postpone a disogreenble necessi- ty os longas possible, If wo are right in this view, then it only remains for Congress to prepare for resumption in such 8 manner ss will avoid the ovils and trinls that aro popn- larly apprehended. 'To the oxtent that the uatural laws have been violated thero must be some ponalty, and it will not be possible to resume our normal financinl condition without some suffering for the abnormal de- parture from ity fixed and patural laws. DBut it is the obvious duty and the first duty of Congress to adopt that plan of resumption which shall bring it about at the earliost mo- ment with the lenst strain upon tho public confldenoce and business. ‘With this end in view, we have outlined the plan suggested by the President and See- rotary of the Treasury, who agrea materinlly on the following points: (1) Repeal of tho Legal-Tender act ns to nll dobts contracted after Jan. 1, 1877; (2) the redemption of greonbacks by a long.-term, 8,05 gold bond at the rato of §2,000,000 a month; and (3) an acenmulation of gold for full resumption on Jan. 1, 1879, by increasing tho revenues ns well na by sclling bonds. This is tho plun which the President and Secretary commend to Congross, not ns the only nor oven the best plan that can be adopted, bat for considern. tion, unlesa Congress can suggost an improve- mont with tho purposo of resumption stond. ily and cffactively in view. 1t is in tho same spirit that wo have commended the plon in a goneral way, tho combined offect of which could not fail to improve the existing condi- tion of things, But one criticism hos oc- ourred to us whick, in turn, suggests a modifi. cation of the plan snd a more strict ad- heronce to the ideas advanced by Tug Tnin- uNE horetoforo in the samo direction, The combined effectof redeoming greonbacksat the rate of $2,000,000 o month and the acoumula. ition of surplus gold in a mensure which the country can sustaln by taxation, will not re. duce the outstanding Treasury notes bolow 3300,000,000 by Jan, 1, 1879, when full resumption js promised. The gold to redeemn this nmount can only Lo obtained by selling 5 per cent gold bonds, which are sbout par, All ot once, then, the Government will have to begin the payment of & per cont intorest to accomplish what it was accomplishing be- foro that dato on the payment of 8,65 inter- cst. Tn addition to thia Joss of 1.35 per cent intorest on 300,000,000, which might be saved, thers will bo a serious dlsturbanca of tho monctary system of the world occasioned by the withdrawal of that immonse amount of gold from the markets and locking it up for some time, bo it long or short, with which to redeom the oulatauding Treasury notes, The plan recommonded by the President should be so modiied, therefore, as tb avold these two serious objections ; and it can be done, we beliove, in the following manner : 1. Take away the proposcd limitation of §2,000,000 monthly, and take up all the greeubacks offered at the Treayury with twenty or thirty-year gold bonds ot 8.65 per cent intorest, lasued in denominations vary- ing from §50 to ©1,000. 'This is, in one sense, 1mmediate redemption; in anothier, resumption at the ond of twenty years, Meanwhilo it is giving & definite obligation for our indefinite promise to pay, aud an intorest-Learing note instead of a note which bears no interest. It will be an improved socurity which, otler things belng equal, will be eagerly sought by all holders of grevn. backs and the massea of the people, It will be o substantial evidence of redomption in- stond 0f an fusnbstantisl promise which has no inheront guaranteo of fulfillment. j. Having repealed the legal-tender prop- srty of the Tremsury notes as to all debis oon. traoted qfte Jsu. 1, 1877, the nexb step in order will be to place the 3.65 per cent re. demption Londs preciscly mpon the same status ns the greenbneks, viz,: That they shall bo recoivable for nll debts contracted prior to Jan. 1, 187 With this character there will be no hesitation on tho part of the holders of greenbacks to convert them into the redomption bonds and draw the interest thereon. Groenbacks having been rotired by this process, tho redemption bonds will be used in the payment ‘of all debts contracted prior to Jan, 1, 1877, will be beld in resorve by the banks as the greonbacks now nre for tho redempiion of their old notes, nnd will ho a cirenlating modium at what they are worth, tlte demand and use for which will gradunlly docrenso from Jan. 1, 1877, on nud after which all debta will be contracted and pay- able on a gold standand, & If “thero remain at the end of three yenrs—viz,: Jan, 1, 1879—any greonbncks which hava not sought conversion in the 5,65 redemption bonds, Jet them be redeemed in gold at the Treasury according to tho promiso of the exiating law. Tho strong probability is, that the amount of unredeemed greenbacks will Lo so swall that the ordinary specie ac- cmmulation in the Treasury will ba equal to their redemption, and it will not be neces- sary to obtain gold for redemption purposes by tho sale of 5 per cent bouds. Tho attrne- tion to excinnge greenbacks for the 3,63 re- domption bonds (the Iatter being legal-tendor 03 to all old debts) will bo so great that bank. ers, railroad companies, merchants, all finan- cial institutions and busincss enterprises which keep greenbacks ns reserves, or for dividends, or for future payments, will con- vert their greenbacks on hand into redemption bonds as rapldly as they can. 4. The result of this combination will be thnt practienl resumption will date from Jan, 1, 1877, after which all contracts and ex- chianges will be on n specie bnsis. Tho old dobts will be paid in the legal-tender redemp- tion bonds, which will b receivable for tho now debts only for their current value in gold, ns English consols or any other na- tional obligations benring s low rate of intor- est. The specio will come out ns n circulating medium in proportion to the demand; prices will bo adjusted ascordingly; and gold ean bo retained aud sceured in auy amovunt equal to the actnnl domand and nccessitics therefor. Thero will b no longer a baser currency to drive it out of the country, and it will come from other countrics to tho extent that we havo commodities to offer in cxchango for it. &, 'Thete would be by this plan no breaking up of the Nationnl Banking systom as it is now organized. Tho bauks would redecn their notes issued prior to Jan, 1, 1877, in the redemption legal-tender bonds; aftor that dato their resorves would o in gold or gold bonds, instead of groenbncks as at pres- ent, and they would only issne notes to tho extont that they would ba able to take care of them, and in answer {o any demand thob would mako them profitable, These notes would be secured then as now by the deposit of United States bonds, and the only differ- once would bo thab the private capital of the country instend of the Government credit would furnish tho circulating medium of this country as in tho rest of the civilized world whero papor money is ot par. The priucipal advantages which this plan has over the plan s stated by the Prosident is twofald, viz. : (1) It mves tho country the payment of a larger rata of intorest to so- curo tho gold for redemption in a lump, and also tho derangement which the withdrawal of a.lnrgo amount of specio far a long timo {from the markets of the world would cause ; and (2) it gives no sudden shock, causes no perceptiblo disturbance, and does not require the present debtors to pay from 18 to 20 per cent more in tho dischargo of their obliga. tions than they received in-value at the time their dobts wero contracted. Thus the great objection to resumption is removed, and the common boon of a uniform and fired cur- rency obtained without oppressing one class for the benefit of another. Tor tha rest, it is o simplo and easy modification of the plan proposed by the President ; and, in defanlt of any rensonablé objection to it, would be bet- ter for a first trial than the Socretary of tho ‘Treasury’s suggestion in'its original shape, 0 ‘WHAT WILL THR DEMOCRATS DO P Tho tariff looms up again as 8 thewmno of political debate in Congress. Tho President and tho Becrotary of tho Treasury have both urged it upon the consideration of Congress men. What aro they going to do sbout it 7 The Democratic party professes to belisve in the doctrine of ruvenae reform. If that pro- fousion is anything moro than a Pprotense, anything moro than a trick, anything more than o fraudulent sham, some important steps towards o tariff for rovenuo alone will bo taken during this session of Congross, ‘What is wanted is not theory and pretense, but practice; mot talk, but sction, The Domocrats havo nearly two-thirds of the ‘Houso, and tho vote of their Benators, with ihat of the Rovenue-Reform Republicans in the Senate, can carry any law for s roadjust- ment of duties through that body, Tho Prosident's message shows that Gen, Grant will certainly approve a Isw restoring the purely rovonuo taxes on tes and coffee and another rewoving or greatly redacing the duties onthe raw materials of our mauufac- turing industrien. Secretary Baisrow lag furnished the necessary data for intelligont logislation on the subject in Lis report. What will the Democrats do? Oue of the last acty of the lust Congrens was to incresso all the protactive duties 10 por cent all around. This has led to no in- crepse of rovenue, but to o loss of nearly $6,000,000, It was not designed or intond. ovd Dy its advocates to increase the rovenuo, Its promoters had no such thought. What they wished to do was' to emoblo o favored closs of “protected? manufacturers and middlemen to got higher pricos from the people for goods on hand and for goods theroafter to be manufactured. The law was {ntended to benefit, not the Governmeng, not the masses, but special clasios of par- sons. It won far to prohibit importation. as well 83 to inorense smuggling and adultora- tion. It has cost tho ‘Treasury six millfons of dollare, and has given the peopls, as von. tradistinguished from a few taritf-robbors, not a cent. It hasnot bottered the times or incrensed employment, but it bas made it more costly and difficult for tho laboring classes to live. The intorests of toiling mill. lons demand a rewodeling of the tariff; the interests of the Treasury, depleted by the law a3 it stands, demand it. And’ the re- duction should not stop here. ‘The raw ma- terials of manufactures should be admitted, 4 far a8 poasible, froe. This is the way to encourage manufacturing industry, to enable s Lo export great value in small bulk, as wo onco did, and to again command the markets of Hindostan, of Chins, of Bouth Americs, of Lngland herselt, 8till amother thing that is nooded s a res- toration of the dutiss on tes and coffoe, which used to yleld 15,000,000 to $18,000, 000 n year to tho Treasury. Thoy wero ro- penled, nat to cheapen these commoditios to the consumier, but to deprive the (overnment of this amount of reveuno, aud so compel it to levy other taxes that would * protect” somo manufacturing elique, When this was done, the Democratic minority in the 1lonke voted mennly and sheopishly for it. It re. mains to bo seen whothor the Demacratio majority has any more senso or manhood, "The ropeal of the duties on tea and coffeo hns not raved a cent to the consumer. When wa took off tho import taxos, China, Jopan, Brazil, ond Cnba put on increased oxport taxes. We still pay the $18,000,000, but it goes, " not to our own Government, tut to the supfort of Spain and other foreign countries. If wa restore our old taxos, thess countries will have to repenl their new ones, for otherwise the Himinishi'd demand here would diminish thoir oxports. If the Domocrata have been Lonest in their professions of tho past, thoy will re- peal the Tecent 10 per cent increnso in cus- toms, greatly reduco the duties on all raw materinln, extend tho freo list, and restoro the purely revenue tax on ten and coffco, But the hypothesis of their houesty is a dubjous one, —— THE NEW BISHOP. The gront agony is over, and the third Bishop of Illinoig has beon consecrated with duo form nnd befitting pagennt in the Cathe- dral which has Perer ond Pave for its patron #nints, There wero floral decorations of great beauty and costliness, and the heavy, fog-ladin atmosphere with its suicidal sug- gestions were forgotton in the wildernessof gorgevus flowers which transformed the Cathedral into a templo fit for the coronation of the goddess of spring. ‘Thers was an im- posin g procession of lnymen, clorgy, Presby- ters, Bishops, Vergers, and Canons, with a last man in it who wns as stately na the first man, with gilded sticks and nll the insignin and vestment of office. Music lent ita in- spiring influenco with chants oud psalms, Glorinand Te Deum, and the massive cho- ruies from the great oratorioy. All good Episcopalians, whether of High Church or of Low Churcli, whatover their views upon the Procession of tho MHoly Ghost or Auricular Confession, turned out, men, women, sud children, to greet the new Bishop and nss'st @t his consceration. DBishops and clergymen came from all parts of the country and lent, dignity to the cemmony, and ono patriotio church- womsn lent her lamb for a obristening that in after yeors ha might trace his name back to this stately occasion. For ono day at least, peaco reigns soronely in the Lpisco- palion fold, 1Its littlo corner of tho vineysrd wasquiet, and there were no littlo Low-Church foxi:s to disturb the grapes or High-Church foxes to harnss the vino-dressers. Not a rranglo or a discord farred upon the pngeant- Ty of tho ceremony or disturbed tho bressts of the great congregation, Thoy dwelt for ono doy in fratornal amity, and lont their henrts ond hands aud voices to consummate the consecration and swell tho pwans of prafse. ‘Thero is every renson to believe that the now Bishop ig worthy of the unanimity, and the cordinlity, aad tho splendor of his recoption. To comes to his work with a unanimous in- vitation, and with an oxcellent reputation ns an officer of excoutivo ability, and a preacLor of excoptionnl eloquenco and talent. His sormon upon Wednesday ovening cone firms his posscasion of tho latterqualitios, Tta theme was chosen with s certain dogreo of application to tho provious condition of lis Diocesa: ““Peaco Lo unto you: na my Father hath sent me, even so send I you.” Under the administration of his predecessor, able and talented as the late Bishop was, tho Diocese for $wenty-throo yearswas filled with wepnglings and discords, which not only dis- furbed tho flock within its own pastures, but brought thom into the courts in long and te dious litigations, and disturbod the whole pablic and brought scandal upon the Church, We have overy renson to believe that the now Bishop comes into this Diocose, not bringing a sword, but tho white banner of truco; that e will speedily restoro order nndl quiet; that hio will harmonize and unitoe the factions ; and® that under his administration the Church will 1naroh with united front ngainst the works of Saton, If this shall be the consummation of Wednesdny's stately pageant, the whole pub- lic, which has grown tired of Episcopalian discord, will rejoice, and extond a hearty con- gratulation to the new Bishop, and repeat tho themoof his first eermon—** Peace bounto you." THE GREAT AMERIOAN OSTRICH. ‘Wo publish herewith another letter from Mr. 8, D, Oanrenren, of Madison, Wis. In this azin the preceding opistle, published Tuesdny morning, he persistontly refusos to ook at the problem which is fatal to the scheme of his Motion, rud so siwulates the Dbird that sticks its head in the sand and fan. cios that tho dmmger it will not sce no longer exiata. Tho problem wo put was this: How shall our merchonts convert the irredeemable paper currency which tley receive for their oods into gold, in order to romew. their stocks of ten, coffes, sugar, molasses, Indin- rabber, silks, tin, quinine, drugs, chemicals, dyes, tropical fruits, and . A thousand other commodities not produced in this country 7 The merchants and traders of fcaoign vations will not accept our redemp- tionless shinplasters for their goods, This kind of scrip, which mny be forced on Amer- icmn croditors as logal-tonders in payment of (lebts, is no legal-tender in our foreign com- morco. At present, and ever sinco the Legal- Tender not was possed, somo thirteen or moro yoars ago, tho gold-brokers have bought the legnl-tenders at an evor-varying discount from the morchants who diad recelved them from the consumers of their goodd, and the yrice in gold thus paid for the legal-tenders lixed and dotormined their value or pur. chasing power. At times, loss than 40 conts wns paid for them; at present, about 86 or 87 cents is their valus. When. ever the Government adopts the principle of the *halependent party,” and doclares that the legal-tenders aro naver to be rodeomed, that they are not promises to pay money but * money" itself, then their value must neces- sarily drop down to what they will be worth for debt-poying purposes, aud that will de. pend on the quantity in circulation, The more of them that is issued the less they will be worth, To abolieh the Nationsl Banks, and ad their circulation to the greenbacks, and at the same time abandon the promise of ultiwato redemption, and it is not likely that the gold.brokers will give 20 oconts on the dollnr for them, Niothing in either of "Mr. Canpenrzn's lot- tars, in the debates of the Independont Party Cougvention he attended in this city, in any of the pronounciamentos aud platforns wliich his party has put forth, or in any ut. te rance, upoken or printed, in favor of irre- di jowmable currency, has been given even a P kusible answer to the question how the 0 Wirchants ate 40 exehange the iLrredsampble [ tual advantnge. Berip enrrency received for thoir foreign gooda into gold in order to renow their stock of foreign gootls, It cannot bo answered by any member of tho Independent Shinplaster party, and until it is answerod theso dema- gogues and sponters would do wisely to stop thoir noise and nonsonne. The idea of receiving groenbacks for cus- toms would merely keep the Government in the position which imporiers occupy now, The Intter pell their goods for greenbneks and thon sell tho greenbacka to the brokors for whatover gold they cnn get, wherowith they buv new s#tocks of gooda and pay the duties upon them, The Government then uses the gold thus received to pay tho inter- ost on tho nationnl debt and miect the de- mands of the sinking fund. If Lhe dutios were pnid in greenbaoks, the Government wonld havo to get the gold some other way. What would that way be? We do not know, snd nobody clse knows, excopt by selling tho greenbacks to the gold-brokors. A green- back which had no ohnnce of redemption could not Lo sold for much gold, so that the Government could not exchango the currency reeeived for jmport-duties for wherswithal to pay its interest, except at an enormous loss. It could Leep on selling gold-bonds to raise coin to pay interest, for tho debt would then increnso at tho rate of over $100,000,000 n year, and this would involve speedy bon! ruptey and repudintion. Mr, Cani TeEn's plen of an irredecmnble “money reccivable for customs, therefors, so fur from enabling merchants to exchinnge the national currency for gold at par and so of. fcet the mnecessary international exchanges, would provent their doing 5o at almost any rato of shave, aud would olso provent tho Government’s getting the gold noeded to poy the Interest on the nntional debt, and thus load speedily to repudintion and baukruptcy. And now, since Mr, CanvENTER hins beon unable to solve the prablem proposed, aud sinca o failure to golve it insures the certnin failure of the irredeemable~currency scheme which his party indorses, bad Lo not betler frankly confess his mistake and herenfter lo- bor for the restoration of what Secrotary Brisrow rightly ealls ** the only actual money of tho world aud of the Constitution " ? GAMBLING. Only one thing is easier than to make monoy in stock speculations,—and that is to loso it. Numbers of tho stock-jobbers in ‘Wall stroct are advertising all through the press of the country about the enormous fortunes that can be mada in puts and calls, Tho inoxperienced are plied with seductive promisos of $25,000 profit from tho invest- ment of %100, and of a moderate compe- tency out of tho venture of 235, 310, or oven 3. Nosumis too small for the romorse- less cupidity of these stock stool-pigeons. Theso men know, and are fond of saying to each other, that outsidors always lose monoy in Wall strect, The sceret of tho present clamorous solicitation to outsiders to come in and mako $25,000 or go from the invostmont of their spare nickels is that Wall streot was nevor 60 bare es it is now of amateur opers. tors. The experts aro left to operate on one another, and know the gamo too well for mu. Thoy must have somo sim- pler prey, and advertiso in hopes of inducing that part of the gullible public which will gamble s far as Wall street and stop short of the faro tablo to give thom a lvelihvod. ‘Tho two great contres of this form of rob- bery aro New York and London. 'I'be New York Herald of tho 6th inst. says: 1t s onoxiom n Wall strect that outsiders slwaym love money. If theroaro exception, thoir oxiatenco wimply provos tho rulo. Men with littlo monoy eamo 1nto Wall streot impressod witlh the hope sad bolief that they could maks fortuns by ous graud coup, They loft it gencrally minua thejr moncy and not in" frequently in del.t, If no poaitive losscs wero made in stock transactions, the broker's commissiou woa & cancor that guawed uneaslly at thelr substance. Tho Inst London Z%mes reccived alludes to the same same topio in Janguage equally strong : " Tt fs a norioun thing to contemplate the Stook Fx- change of London an {hus, Dot as & cantre where sound investing busincss fs done, but a gambllug arens where the foolish cutslder is s cortain to lora bis money as if Lo trusted it to an advertiuing book- wkor, Whilo deslors and brokers, sidod by ad- venturers, who wera cither thelr tools, thelr decoys, or the reaton of thelr existonce, have been making Tortunes out of these miaorabla products of perverted ingenuity, the publio bave boen losing, and tlie qulet, unjretoutions broker has licen pushod aside and al- most throatoned with extinction uuloss he will con- aent to embark i tho samg carcer of speculation, It has becomo Smpossible for an honest man to guido orv advise hia clionls as borctoforo smid the whirligig that this atate of aftatre bas produced, when, the noxt: bour, or the noxt day, bis sdvice msy bo falaified by- tlis course of tho gambling, 1n the moantime, wlat- evor tho gamblers bavo fost betweon themsclves Laa merely been gome part of tho gonaral winnlogs from the publie. ¢ It is given to fow men to understand ss much g8 their own business, Biill moro reatrictod is tho supply of those who can at- tond to more than that. Botter leave Wall sireet to Wall streot. THE TRAMP-HUIDANCE, Tho poople of Ohio are taking hold of the ! tramp"-nuisance question in a vory vigorous and practical manner, and ot the Convention hield in Columbus® day bofore yesterday adopted measures which, if put into speedy and camnplete operation, will solvo the prol- lem so far as Ohio is concerned, and relisve tho people of thot BState from supporting abla-bodiod vagrants any longer. The roso- lutions which wero adopted suggest tlat each Jocality ball, in the firat instance, look after ita own vagabonds, 80 as to provent tramping 2w far 0s possible; that omployment of a ro- munerative chracter shall be furnished to tramps by the establishment of workhouses sufficiently large to maintain them in all cities and towns; that magistrates shall be givon authority to arrest all vagrants and commit thom to tho workliouses; that tho practico of giving them froe transportionshall be stopped ; and that, after the workhouses are in oporation, private charity to this class whall conse. 'These resolutions go to the very root of the trouble, aud if they are put in practical operation they will abate the evil of tramping, The *tramp " was originally a product of New England and New York, and in those scctions he still flourishes and obtains sub. sistenco without work. At first the tramps ‘were people who were too proud to go to the workhouse, and yet were not too proud to go orouud begging. They traveled from place to place in quest of charity, and were willing to work to earn an old coat, a moal of*victaaly, or a night's lodging. Their sucosss, how- evor, encouraged s host of thieves and va- grants who were not willing to work'to go to trawping, and now they number thousands, inteating tho small towns and villages, and avoiding the large cities, whare they cannot operate dud are liable to arrest, Tihe small towns and villages take core of them, provida them with meals sand lodgings, aod free trangportation from one plsce to smother. Within the past threo or four years they have secured @ regular organization, have mapped out regular routes from New "York to Maine and back, and make their trips. at reg. ular periods, thus getting a lving ‘without work, Where work ix offered thom they ro- fuse it, rometimes with insults nnd often with violence, Whoro thiey find no one or only women nt home, they not only beg but ateal. Thoy hold the rural districls of New York and Now England at their morcy, The ovil at Inst grew to such dimensions that some of the comnunitics began to adopt mensurcs in gelf-dofonse. 'The ancient and conserva- tivo Oity of Salem, Meas., adoptod tho initin- tive and grappled with thg question just ns the Puritana in the days of Exptoorr and Corroy Matier would have done. Tho city authorities seizod the tramps as fast ns they came within their limits and set them a¢ worl: upon theronds, thereby mnking them enrn thoir bread and bed. As work is the lnst thing o tramp wants to do, Salem was speedily froed from tho nuisnnces, Thoy went sround it. "They marked it off thoir maps. Thoy called it Anathomn Maranathn, Other places in Naw Englaud have ndopted the same mothod of dealing with them, and it has proved success- ful iu ench instance. TFinding that their oce enpntion ia likely to be disturbed in that part of the country, thoy have commenced emi- grating totheWest, They havenlready renchod Ohio and Indiana, and wo shall oro long have the curse within ourownborders. Cloveland has taken timo by tho forolock and passed o “ tramp.ordinance ” which is said to work nd- wmirably. The nrrangementa which have been mado for the ontertainment of tramps are thus deseribed by the Herald of that city : The Streec Commfasioner will call at the polico pta- tion each morniny aud receive o list of the men who are o apply thelr muscle to the cleantug of tho stre:tn, Ll will then morch thom to the Bothol, whera they will bo furnfshed o Lreakfast at the cost of the city, They will then bo taken to work In gangs, And allowed to apply the hos until diuner time, Tho ‘moraing's movo in the line of the Bathel will Leagain taken up, and aftor dinner snother chance for digs ming and seraping will bo in ordor. After supper thay will return to Povorty Darn and drop away to slumber with fhe forllug thiat some of them, for the first tme Tu many days, bave esrned their board and lodzing. Clovoland bins solved the question. Work is the romedy which will enre the tromp.dis- ense in overy instance, It has nover been known to fal, and every city and town in tho West should tako mersures to set theso lazy, dissolute, worthless, able-badied va- grants at work and make them oarn their living. If it ia not done, and dono speedily, the West will swarm with them. There is plenty of work, for the ronds nro in bad con- dition all over the West. Thero aro only two essontinls nocessary,—first, to stop private charities to wandoring beggars; and, second, to provide the work for them to do, and sure .| meaus for compelling them to doit, A vig- orous dosn of this medicine*will reliove any city or town in the West of trumps inu month's time, The London 7'imes takes the following view of the Preaident’s reference to Bpain and Cuba in his messngo : 1 Bpala cannot Ruppress the Cubsn rehels, if the Inland must be haif rutned while she holds it, if sho will not put an end to that Snstitution which s the main sourco of diaturbanco, it would ba hard to expect the United Blates to lot the work of dovastation pro- ceed unchecked mercly out of rogard fo the uominal soverejguty of Bpain, Hpatn {a on trial. 'Tho limits of hier power to vestore order will be the Umits of her riglits, ‘The commont of the Zlimes goes to show that England s as desirous oy the United States that this war of mutual nssassination and extermination shall cesso both on ac- count of her commercial relutions and the money she hns invested there and in the in- terests of common humanity, It further. moro goes to show that if the time shall como when the United States will be com- pelled to interfero in this contest, to tako the two combatants by tho ears and scparsto thom and remand Spain to her place on the other sido of tho ocean, with instructions to atay thero, there will bo no opposition from any Europoan power, but, on tho other hand, if necessary some of thosa powers will join with the United States. 'That such o time must apeedily como is inevitable. The United States must intorvene in tho intercats of hu. manity, in tho interests of her own invest- ments, to preservo hor comsmerdal rolations, to presorve what little is left of the island from ultimate destruction, to stop the in- cessaut drain of gold from this country, and to put Spain whero sho belongs. The trinls of tho alleged corrupt election judges and of the murderer Davis will take placo next week. The State’s Attornoy hns Lis evidonco all ready, and is propared to go on with the trials. The sucoess of justico now doponds upon Bherif Aowew. The ‘wholo community will look to him to select honest, respoctable business mon to servo upon these jurics, and not professional jurors, bummers, or partisans, or corrupt men, who nare nlways hanging about to secure such joba nsthese. If justico faila'to got her due, the poople will know where to fasten the re- saponsibility, and they are not in tho mood to be trifled with. Tho cases are of extreme importonce, and deserve to bo tried by honest and intelligent citizons, not by lonfers, polit- ical bummers, or sympathizers with, erime. Sheriff Aovzw should be extremely caroful in the selection of juriea in view of the ro- sponsibility resting upen him. Bonator Doay, of Missouri, has brought limuclf into motice by -introducing o bill authorizing the paymont of dutics on imports in legal-tonders aud National Bauk uotes, with tho curious deduction that such a courso will lead to specie paymonts. Just whero this connection comes in s not explained, nor does Mr. Boax stop to say low the United States shall rafso the gold to pay the intcrest on tho dobt in tho meantime, The bill was roforred to the Committeo on Finance, whers it will probably sleop quictly during the sossion. —e Qov. Bartir, of Georgla, Las published & proo- Iawation calling sttention ta the Trausportation Convention which is to be bold in Chicsgo Dec, 15, and uraing the people to send » full repro. sontation. The Governor holds the subject to be one of groat importance to tho producers in all parts of tiio pouniry, and gepecially to thosa of the Houth, He conceives that the presouce of gold s the result of commerclal prosperity aod not the cause of that prosperity ; and he sces no possibllity of & return to specle ‘pay- ments until we, as s nation, gell more than wa buy. To this end, bo says, it i3 neceasary that the cost of transportation tothe sesboard abould be reduced speodily and decidedly, The Governor furthior mays, with & certain wolemn tritevess, thatour wealth cannot be made avsilsble uotil thera are ample means of communication botween all parts of the country. Wo do not care to sgres with all the economical proposmitiona lsid dowa by the Qovernar, but we do admire and commeud the futereat ho taken in this subject of trauaports- tion, Tho Governors of other Btates might profitably imitate his example, if not by publish. 10g A treatiso on transportation, at least by ad. vortlaing and approvuig the plan of the Conven- tiou soon ¢ be hield in this city. e s e The Captain of the ateamer Bunnyside, whioh wa. out in two by the ice on tip Hudson River fow days ago, tostifled that e tned to induce & coriain passenger, 00¢ PoLasxs, $0 leave his stataroow, but thy man dasiined, saying thay ke had $80,000 worth of jowelry with him "y meant to atay by it. lo (8 now ntaying by i, " the bottom af the Ifudron, Tho consnqne, tomptation to amateur divers v very prrey Whon ayriog opons ana the ice floats awag, e froquont amall boy will doubtleas dencand dark. ling through tho waters and report, when he gy, turns to tho surfaco, serng dismonda ag Targy 08 hooa' oggs, and poarls which no oyater of these dogenerate dayu cculd contalu, only o tey feot from his grasping hand. When somy skilled diver, with helmet, bell, and Rlr-tubes, finally exhumes Porasxs and reraing 1o iy world the jewelry, wo fear the tradi-fonal fyon. bound asken chost eantainng it will be fouag tho centro of n cirelo of drowned urehius, oo g i A magazino published in Michlzan announaey that 1t will “'accopt with thanks" overy artety offerad i by any snbseribor. If the offer fs magy and earried out In good faith, tho sarried ranky of subacribers will oxtend from Maina to Org. gon, and the magazine will bo obliged to frany daily numbera of 600 pagea onch, Tho many for scriboling whon the glory of print s very uncortain ia apraling ; the imagination slriyky botoro tho task of concelving what 1t will 14 whon this glory faassured. Ilow the “Dotty Dimples” aud "Ioward do Courey Montjom, oryn" who aro kiown to an unaympaizing world a8 Praoy Buowss and Joux Sty aod to mneympatbizing editors A fearfy bores, will load tho fusila for Michize with inky sleets, earofully writton on Logt sidos, with mo punctuation, no capital lotters, no grammar, uo Renso. Rural Portmantars, 1y cauntry over, will have their malarics ruised og aceount of inercasod saloa of stamns, Tha idey of tho Ponlosular poriodioal is proimbly udarts) from tuat which tade tho fartune of n stirend spoculator In Donton. 1o publistied @ mazazing which paid nothing for contributions, hut priat. ed all of them §t could. Tho achemo mado hi-g rich. The recoipts from the solo of payor 1y the pound woro conaiderable, and thowe fre:q subscriptions enormous, Tho projoctor o ¢ owoh 0no of iho largoss hotels in Bastou, bn I ont of tho profits of his magazine and nav.cd afterit. Tho Micbigan men may woll ouvy by luck. Meanwhile, any subscriber to their mr.za ziuo who wishos to figure as an suthoran| iy unable to writo anvthing can receive o of «ollection of rejocted manuscript by sons express-wagon to this adico avery other day, ‘The nxpertence of aoms London landlords iy supplicd tho world with & valuable, hint on tonm mout-refornt. The cvil which this reform a to remove In tivo-odged. Tho tenomont dastross the moral, montal, and physieal health of the tonants, and tho Inttor destroy tho tenament by a caroloss use, and often by o wanton deatine. tion, of stairs, bannistors, doors, windows. wa! pipen, ete. The owner's exponditura for nece-. sary repairs ia sv Breat that be puts tha pirictes) coustruction on tho word **neceasary” aud do.g nothing that bo can possibly holp, The Londa Iandlotds already montioned hiave reduced the item of ropniis to Ita minimum by a ver; oxpedient. They sot side & sum of monay ju: than the svorage expenditare for such thinga, aud told thelr teonuts that any part of thts sam loft after the snmual te. paire lad boon made would bo dintrituted smong them in proporiion to the reat ench pald. This made it tho ovident jntcrest of cvery tonant to mako tho cost of kecping the building 1 perfect order as fittlo na possiblo, and g0 make hig own share of thia pro.ninm o3 carefuluees ng large 29 possible. Tho praciical results of (his modificd form of co-ove:ation b tween landlord and teoant bava bean advane tageous in tho highest dogreo to both, "Lhe Tuterior, no longer being ablo ta rerrs cute Prof. BwING or summon bim to bual 1et hoterodosy, now ridicules big effort by preack in an indopondent pulpit. Heving hounded hm about matit it forced him out of the Fowth Cluurch, its impotont malico now followa hia Into bis now theatro or operations, und sncoa and laoghs at bim. 1t should lave beon com tont with forciug bim out of its denominatinn, Togido Its donomnation it had & right to criticine avd catechise. Outsido of it its prosont atie tudo is inpndont and insulting, If tho Interwor has any moro supleon to vent, it shou!d sclect soma ono within tho Presbytery for its victim. Tho present editor of the Milwaukco Senfincd has Bome difficulty in showlog that his omploy- ment under Mr, Broner was honorabls or do- cont, Tnose who know tho charactsr of tbe work that was expocted of lim, and whicu hs cheerfully porformed, will boar out the assartion that bis moral sensibilitios must Lava been blunted betore ha wont to Milwaukeo, Long Borvico as & hack-writor for corrapt ringa 1 Alilwaikes cannol have Improved him materie ally. A vexations blunder, occurring in tho trans- wission of our tolegraphio correspondenco from Milwauseoon Wodnesday, castan ugintended and wholly unmerited slur upon s moat worthy and rospoctod gentloman, 'The error made thal which was writton * A. Al Tuousur, Into editor of the Bentinel,” read * a Mr. Tuomsox,” olo, It goos without saying that no euch cone temptnous reference wss contemplatod, snd il can readily be soon how the mistake occurred. The Milwsukee Sentinel offers to opon ite files for the examinatlon of anybody wio bo- liovea it has dofended the Wuliky Ring. Its filea show nothing on tho subject; ther are a porfect blank. Thoy would not be ao if the Milwaukoo Sentinel wero earnest in its oudeavors to exposo tho corruption of which It is aware. Corruption may bo dofonded by suppressing the trath aa weil es by suggestivg s falsohood, i Bonator Canezxten has & forgiving spirit. Ie 13 now a libers! patron of tho young wan who, as mansging editor of tho Chicago Times, war tho chiof fostrumont of spresding thoe Long Dranok scandst throughout the Wext, Inayear or two more, porhapes, the Honater will Lo an active csnvasser for Tue Wxesiy Tumuse ia Wisconsin, BATTUEW bss eminsut yualiticas tions for the work of canvassls —_—— Beoator OanrExTER Alea fdavit in tho nae ture of a bill of digoovery against Mr. A, M. 'fuoxsoN, his objoot being to msceriain how many ugly thinga aro lkoly to be brought t2 light Lo tho progreas of thie lbol-siit. ¥ PEISONAL Youog and handsome Senator Whyte, of Mary= land, is frequeutly in recelpt ot baskets of Howota from his Iady-admirors. Mr, McPherson, Iate Clerk of tha Ifouso of who retices after tweive years' s now engaged on o lifo of TLudleds Thera is to be 8 Bupreme Court waildiugr eb Christmas in Bloomlugton, 1L, wheralr, Jurti: s Swayne's son will marry Mr. Justico David daughtor. Roverdy Johnson goes to England to uego- tisto the sale of publio lande in Floida, troa the prooseds of which he has been inutrucicd L liquidate the Btate debt, which is very suwall. Dr. R, Ludlam, of this city, was severcty in+ Jured by the colllsion of bis carriago W Wabash avenue stege Tueaday eveniog. :r::: sccident resultod 1n » bad graoture of th right log, Members of the new Samoan Legielaturo wh? enter the ball in a complete or parsisl state of nudity are fined 9100, This mieasure bas sl ready sensibly mitigated the basbarity of tho Islanders. The Goodsell Brothers, of New York, pub- lishers of the Datly Graphw, b employed Gon, Butler and Mosars, Fullerson and Beacd to prossoute their libel suita sgalost the Nea York Zimes. It was prophesied of Speaker Keryin earlt Life that he woald make his mark o the wo.ll * yhonld ho live sud not meot with any serious pull-backs,"—a tolersbly safe prophesy, v should say, Puli-backs bave sniiosd mavy s .-