Chicago Daily Tribune Newspaper, February 11, 1876, Page 2

THE CHICAGU TRIBUN FRIDAY, FEBRUARY 11, 1876, THE CURRENCY. Nccessity ot a Return to the Bpecic-Standard. The Evils Resulting from Irre- deomablo Paper-Money. Madness of the Inflationists--Repre- hensibie Course of the Demo- cratle Party. Speech of the Hon. James G. Blaine, of Maine, In the Mouse of Representalives, at Washinglon, Feb. 10, 1878, Bvactat Dispatch ta ThA Chraan Tridyns, Whaseixoroy, D. 0., Fab, 10.-r. Bialne's ®peech on tho flnoncos waa n personal ovation. Tho galleries wero packed from an catly hour, and the floor duting the delivory of the spoech was ocenoiod by moss of tho persous of promi- nonco In Washiogton. Becrotary rlatow was 3o attentive listonor. Tho spoech was a coneise and graphic enitomo of tho tinanciat istory of this conntry, aud a severo arrsignment of tho hypootisy of the Demceratio party, XL nttracted b moro attoatlon from tho fact that it wos n formal declavation of tho “finsu- il poliey of one of tho leading Presidential candidales, Tacbox. of Massachuealts, hod tho couraga or andacity to attompt to reply to Blaino's caroful aneoch in what at first appearod an impromplu effort, but {4 soon bocamo mani- fest from tho labored effort that Tarbox had ob- talued in advanco onc of the printed slips of. Diaine's npeech. Tarhox's rejolnder wan ontirely nartfsan, Al bi3 oratory was a9 stratnod as his fucts. A\ Now Lugisnd member proposoes to ask Tarbox how he came luto porsession of Binino's apench. Ttwas putin type ot Aucuets, Mo, nad ono eapy wus migsed 1rom thoe oicoe. TUE BPRECIH, Mr., Citamarax: The hanor of the National Qoverntent aud tho prosperity of tne Ameriean 1eople uro alike menaced by thoun who demand o perpolintion of nu irredeematlo paper cur- roucy, Tor maro than two years tho country Las Leen sulfering from prestrntion iu business ; contidenco roburns but slowly : teads rovivesonly partislizg and to-day, with eapital nnproductive oud Inbor unemployid, we lind oursolves in tho midet of su agitntion rospecting tue medium withs which businoss. trauactions whail be cartied ou, Until ths qurestion in delinitaly adjuated, it In fdle to oxpect that tuil measure of prosporily Lo wbick tho encigles o our peoplo and the re« sonicas of the laud entitle ws. In the way of thint adjustment, ono groat ecetion of tho Demo- cratic party—ponsibly its controlivg power— etubliorely sinnds to-day. ‘Fhe Itepublicans, ale ways true to the primal’ duty of supporting the wattou’s oredit, have now east hobilad them nll minor dilferencos nnd diskentions on tho finan~ cial question. and have gradualyy CUNSOLIDATED THELS STUBEGUH AGAINST INVLA- TION. Tho curreney, horstore, bacomoes of neces. ety n promivont politienl lsevo; and thena Demerrnis who aro in favor of hioness danling by tho Government and hubeat muney for the yeople, may bo compriled to act us they aid it that sill graver extgeney whon tho oxtetenco of the Governwent itrelf \Was ot stake, Whilo this question ehould bo approached In wo spirit of partisan nticrocse, it hay yet hee como RO outnnglod with party-relations \Liat wo futolligent dikcussion of It cau be bud without giviog 1ty politieal history 4 sud, if that history beara soveroly on the Democratic porty, ity due fendors muss snswer the facts, and nof quarrel with tholr prosentation. Firmly attnchod to vue politieal party inyuelf, thrmly belioving that par- ties fn & freo” Goversment dro as healthful ng they are inovitablo, I thitk thero ara ques- tlons sbout which purtics showld agroo movor o disogreo; and of these Iy tuo eusential nuture and valio of tha clrenlating modium, Aud it {s » fect of espacinl weight aud sigulficance that, up to tho paper- mouoy ora, which was procipitated upon us du- ring tho Liobellion a8 ono of war's Inexorablo ne- coaeitios, thoro novor wesn political party in this country that bolioved (n any othier tuan the specio-staudard for our currendy. It thero way sny ono principlo that wan rooted and gronnded in tho minds of our earlicr atacosmen, it was thy o4l of paper-mouoy; ehd no caudid man of Gy arty ¢an read the Constitution of the Untted tatos nnd not be convinced that ity framers - toudod to protect and defend our peoplo from the manitold porils of au Iredeomablo currency, Nathantol Macou, ono of the pureat and bost of icau stateamen, himeell o toldier of the Rovoluton, and a metnber of Congrers continu- ously during the sdmiistrations of our first six. Yroslaonte, embracivg in all o period of nearly forty yoars, oxpressod the wholo truth when lio doclared in tho Benato that A ** TLELS WAS A NARD-MONTY QOVEANMENT, ."foundod by hard-monoy men, who I them. aolvea ooy aud felt the cvil of pauor-mouey, and moant to eavo their posterity fiom e, To this uniform sdlicroncs "to thu specic. staudard, the criris of the Robellion forced an exoeption, In January, 184, with more than GU0,LLY men in srine, with & daily exponditure of neerly 2,000,000, tho Government suddenly found ituell without woney. Customs yielded Dut little, iterunl taxes had not yot bewn lovied, pubhio eredit was feeblo if not "varalyzed, onr srmles had mot wish ono signal reverso and uo- whoro with marked reuccess, and men's mindy wero fliled with gloom and apprehension, Tho oo eupromo nowd of the hour way monoy, and wigooy the Governmont did nothave. Whal,then, thould bo done—tuther what could ba douns 7 Tho ordivary Tressury mnote lind been iried and failoy, nodthoso already fusmed were dircredited and below tho valno of the bills of country banks, The Covernment, in this Kroat nud porilous noed, prowptiy calied to ity Ald 8 powor nover bofore exorcieed, It author ized tho tssuo of one Lundred sud fifty milhons ot notos, and doclarod thom to be n Ingsl-tonder for oll debts, public and private, with two ox- coptions, * Tho ablost Iswyora who sustaine. thia monsire did not Oud warraut for it i the tuxe of the Conatitution, but, like the late Sennator T'essvu- d:u. of my own State, placed it on tne ground o HMABHOLUTY, OVERWHELMING NECKSaITY ;" and that {ilustrions Senutor declared that, “ Tho necessity axisting, ho imd no hesttntion.” [y deed, wir,to hesitato was to bo lokt: for tuo danger wae that, if Conjress protonged the do- bate on points of canutituiional constructtbn, We deltberutions might be interrupted by tho sound of Mebel artllocy on tho opposite &horo of the Potomse, ‘L'tic Repubhican Henators and Nepronontutives, therefore, dinmixsing ull doubte and oasuistry, stood togetuer for tho couutryt sud if tsunted, s they wero, by tho Demwcracy and disloyaity ot thut day, with vio- lating the Coustitution, they pointod o that luw which is oldor thsu constitutivie, Adopting the sentimout, au they wight bave quoted tho im. puted languago to Jolin Miiton, thoy belfovud that “'T'here 18 & luw of uoif-prenervation, wiit- ten by God Himsolf ow oar henrts; thera is the primal compact sud bond of society, not gravon on stone, vor sealed with wax, nov put down on parchment, nor kot forth in sny oxpress form of words by men when of old thoy cama together, but fmplied iu the very act that thoy £o came to- cather, presupposed in all subseqient luw, tot 0 bo ropealed by any anthority, nor wvat:datod Dy betug omitted (n any code, tnaemuch ag from theuco are all codes abd ail suthority,” Lat the prowptiogs of patriotiem, the prese sure of waceseity, tha ‘‘despatism of daty,* which thos docided the courso of the Repub. * licsna FAILED TO INFLUENCE TIE DENOCHATS in Cong Alurehaled and Jad by Mr, t'endla- tou, wimze Lecome the great advocate of Iniy- tion, the Democratio Nepressutatives voted jn well-n{sux wolid coliwn against the legal-tonder bill, Uankruptey to the ‘'reasury was impond- ing; eighty milllons of unpaid raquisitions lay on the Hucrotary’s deski s large parsof the rmy hed not recoived & dollar for six months; supplies were failivg ; recrwting Lalted; tho Fpikite of tho people droopad ; while tho Exocu- tive Department, chatged with the conduct of tho War, urged that critical campaigus, then in progreds, would necegsarily end in disastor unless relict could bs afforded in this way, Dus Detmnocratio conaclences wers o0 {endor aud Democratio seruples oo futonss st tho tine to pormit such & fonrful infraction of tho Cou- etitutfon aa the paseago of » Legal-Tender bill, oven to ave the Unlon of our futbers and thus preserve the Constitution itselt, ‘Tho necessities of the Qovernment were o at and expenditures so enormous (hat another undred an: fllw milllons of_legal-tandar notoy were spooduly called for and grauted by Con- grest,—tho Domoereta again votlng, under Mr, Pendloton's load, agatnue tho meanare, with vArying fortunca Iho last yoar of tho War was reachad, witl throo hundred millions of legal- tender In cirenlation. With the strain of our publle- cradit and tho” donkfs and vicissitidos of tho strngplo, these notes had fallen far bolow par in goldg and it beeamo npparent 1o evary cloar-haaded obsarver that tho con tinued fusuo of legal-tendses, with no provision for their redemption aud no hmit to thoir amount, woukl ntterly destroy the crodit of tho GQovernment and fnvolvn tho Union cause fn irrettiovablo dieagter. 1ut st that moment tha milittary situstion, with {ts perils aud its prospocts, wna suel {hat the Uovern. ment muat havo money moro rapidiy thay tho enle of bouds conld furbish i1, and the dnny]er was, thiat tLo salo of bonda would o rlu!-pc(l altognthoer unless nome dofinite limiy coulil bo araigned to tho issuo of Jegal-tonder notes. Accordiogly, Congreas souglt, and sne- cesufuily sought, ta acconplish both ondn at tue namn timo, and they paasod a hill granting ono bLundred miltionh additional Jegal-tendor ciren- Iation.~making four hundred muliong in all,— aud thon incorporatod in the saine law A BOLEMN ARRUIANCE AND PLEDOR hat ** Tho total amonut of United Statos notes, fssued and to bo iseucd, shiall nover exceod £400,000,000." And to this pledgo avery Demo- cratic Beuator amd Roprosoutativa nsscnted, eithior activoly or silently, as tho Journals of both Houscs will show. Tho subeqneut roadi- ness of many of thoso gautiemen Lo tramplo on it muat Lo upon the broad principle of ottics, that tho Govornmant ahonld keep thoso pledges which ara profitable, and distegard thoso which it will pay to violate, When tho War was ovor and the Unlon rared, onv of tho first dutiea of the Governaient was to improvo its crodit aud rortoro & suund cnr- roncy to tho people; and bero wo mmght uavo reamonably oxpectod tha ald of the Domocratio party., DBut wo did not receive it Irreconcilably hostle tu the fssuo of legal-tonders when that form of = oredit wan necded for i axlvation of the contry, the De- IACTaty, kS #UON A8 10 COUNIEY WS Aaved, cuncelved nviolent love for theso notew, and dininuded an almost ilfimitable lsano of them, " Me, Seymiour, ad the Dumocratia eundidate fur President in uting thn four hundred sulhan piedda, atood on o platform demsnding that sizteen huwdred 1nilions of fives twentiod e pand oif fn Iegal-tenders: and he a0 heartl- 1y approyed this policy (iat, Iy lus latter of acceptance, e declared that * 1o shoiild strive {0 earry it out {1} whrerever he might bo placed in paliticsl Bife.” Win position st that timo wasap- ved by evory Demoerat of high or low degree in w York, s utanimously teafirined in their Stato onveation, wan auntalncd by all thele nowspapor- orgus, and waa the recognized croed of the purty, List o well ws West, ° Mr, Soymonr und bis New' York lave snd now proclafm ter {ho manner of {hio Pharsroe, thoy. broaden their phylaclorivs, makn foud prafessione of supeclor zeal, snd thank Qo4 rey- orentiy that thoy arenos a8 that sinful brotlren of the Oblo Demoerucy,—thosn fusuzlal Hidduceon who continiin to rofect alf idea of rosirrection or rodemp. Han for (e deggaltade 2 Lave Lhus Drivily reforred to (b past, Mr, Chafr- iy because L think 1t han an Smportant Loar- Ine on the pressut end the futurn, fda not ansuino that tha llepubllean party ran possibly dischargs its prending responsibilitien by merely pointing to ita_for mor grand achfovemeute, Lot not viriio seck ros munerntion for the thiug it was” Bus I do claim ihat, o this Snancial queaton, the coursa of tho - pubilenn yiarty i tho jrast 1s »' guatautee for i fu- ture, and that’ eiqually the oourvo of thy Democratle yurty, of both winga and all ehados, $a & MENAGE AND A WARNING TO THE PROPLE. If, bawever, the New York schwol of Democrate, re- peattog of thelr former course and seokiug better ways for the fituro, aro roady {0 give honest lielp in tha restoration of & sound” currency, they will bo glsaly wolcouicd, and thelr falth will be teated by wotkn before thie neealon of Congress closes, They will not, howuver, dcem It strange or harsh if, remeni- bering thelr part’ Tocord, we feel an uncomfortabls renre of ddirivust na to'their entlrs atucerity tu the fture, Thin distrust §3 iucreared when we witnes thn brazen bolduess witt whiich, in full viow of thoir ronitiution.recond of bnt yewiorday, they ssatime a etited Lome of superior Luiewty on 1he Anancial ques- tlon, and affret patromzing Ianguage toward tho ma who raved tho natlou from the hatiag e, Sogmonrs triumph in 1464, BUI fur ned and, strongthened is th rust when ver the formal alliwice which the New Yotk Demoezats have renewed with tho Domocrats of tho Sonth, to whunt onr wholo finauctal aystem fa tut s rembitor of whal iy themmelves ferin 1holr subju- gation, and wwho, from ” past nction sud present ten- swanieyy aro undited 1o ba the natin's pledges for tho paymer have pacsed into a new eras and to rozali the Suthern Democrscy, with the'eappalling record, to ther au- eront eaitrol 4o thuw conntry, would Le ns decksive o Mep We BACKWARD AND NIOGITITAUD anfb wonld Tiava Leets for the Eni: ot Wihao of Orauge with a Uactiag oi adber, 10 tite Tost Howao of Btuart,or i 1t wonld b toatlay for the French Aseenbly to'theust on Mes fahos Cabinet. devoted 1o tho fortunce of Heney Ifth, An 1sald st the outset of my remarks, Mr, Clalr- ui i, the countey le kuftedny utidee one of thoso peris odieal revulsions in trade common to all commorclal 1 thus for no wikdom of legislation o to avert. Tho nutural rostlossticas of peuplo sa slive and alert 88 ours Jooks fur an fnatant aeniedy; and tho dauger in such a ¢ondition of tho pubdie mind fv, (hat somethliyg 1may b adopted that wiil ultiniately deopen tho discane rather than lsy the ‘{rvnmxl\vurk for nn uilvetnsl cure, Naturally enough i such u tiwe, the theorfes for rolief are numerous, ol wo bave tucrvelous reclpes offered whoreby the ]veu)vlu atinll bo enabled to pay tho doilar they owe with evn than J00 cenle; whils thicgo who arn eaught with such n delusion acemivply foryet that, even i€ this 1o 80, thoy mimat Nkewiso recclve losy than 1v0 cenls fur the doliar tuat 4 due . thom, Whether tho dollar that they owe to-d-y, or tha dollar that fn duo ther to.morrow, will have {ho ge less number of centy, delends on the canses which 11 her coutrol ke up cn tha fort of gatabling wre, by o linaucial parsdos, the twost acenro and tho most promiving, Uncerluinty o8 tu thy valug of the currency from ay to day Iy INIGRIOUS TO ALL NONEST INDUSTLY. And, whiks that Which 14 kiown as (e dobtor intersat rhontd Lo fadrly and pencrouly cossdered {0 th Ehaplug of mensures 10r wpecle-rennntion, there i 10 Justice i ssklug for dntlation on s bef Lather thers dn the gravest jufuatic; for you must re- member hat thore Ia” a large olarm of nst dewerviug poreous. who would bo contiyuals Iy oud remorsclessly robled by wuch oa Jooltcy. T meau tho Labor of tho conntry, that 1 com- pelled ta live from snd by ia daily earuings, ‘The Envings-lanks, which ranresent tho surplus owoed by tho laborens of tho nution, have depouits 10-diy o erediing §1,160,080,060,—morw (han (e entire capital #tock und dopositi of ' the National Baukn, ‘Thie pen- wloners, who represent the patriotic sutering of the cuutitry, lnve o capitalized fuvestinent of $600,000,60, Hero ara 1,500,000, Incapablo of receiving unytiing bue Instant nud fusitog fujury from intation, What- evet drapaien the - parchelng power of tha doliar correspondingly decrease tho FesOrees of tho saviugelunk depositor sud A0 Jmtoner, o detlonors o | would 0 abuolufe, but it would probably be aryied that the Taborer wonihl reculve compensation by bin nominally larger earnings, But this would prove totally delu- wlvo, for no possible austiucutation of wages iu'a timo of anifution will cver Jieop paco with tho Wil greater Increave of price fu the commodition oceskary 40 nuse 13l hife, exvept—aml niark (ho oxceptjvn~uader tho conlitfon winessed during the War, whess the nue bor of laborers waR coutinually reditced by the des mawd formen ta rerve in the srmy and nuvy, And those Lovest-tiinded pavpile who recull tho starthing ctvity ot trade and the large profts during the \ar, sud atiribute both to an {uflated currency, commit the ercar of LEAVINO OUT TUE MOAT INMPOATANT ELEMENT OF TH1 CALCULATION, ‘Thicy forert that the Unvernment was a cuslomar I 1y toir searsat 10 rato of twa to three wills dollars Jr dny,—buylng countlosa qusntities of 61l dtagte arilcluss they forget that tho number of COnNIIeTE Wt continuslly cularging B8 our nrmed fored grew to R4 glgantie yroportions, and that the nutuber of prolucern was, by the £1n8 cause, contine uially yrowlug feaw: and that thua wan presented, on & tedlo of unprevatontd megnitide, that nimple yrobe Teny jumiMar allko to tho juittical oconouiies an vil- Iayy tradvr, of tho deniaud beiug groater than the sups iy, oo W ovonsequent riso i thp prive, Had Uoveroment o been able to conduct the War on s gold tams, ang provided the cofu fod s uecomsarily Iarge oand 1avish expendiitire, & 10 1 thy ync of fabor nnd & Tibo f1) 110 Y810 OF commonities would lyive bien e evitablo, And the riao of Luth labor and commoditice i gold would have becu for the 1o 4 matked se i aper, adding, of cuurse, thy depreciation of tho fste er {0itu scaly of prices, ‘Whils the ttelnslon of creatlug wealth by tho {ssuo of frredecmabio papor-cureency may lead (o suy num. ber of abaurd propositions, the adsocales of thy heroay seem to havo settled dOWIL 00 1y Rivavres,— o, rather, ouo measuro romposed of two parts— namety: To aholish the Natiousl Banks, and then havo the Govermaent {ssun leyal-tondora st once to the atnouut of the bauk-circuiation, aad add to the vai- uthe from {itia to e thercafier *accordiug o ths Wwitlits of trade,” ‘The twu propositions are 8o Insopae Fably connected that L shall dfscuss them together, TUE NATIUNALSHANG BVSTED 3r. Chalruian, was ono of the results of the War, and Lo credit of i urigln bolongs to the Iate 8almon I, Charo, (hen Becretary of (ho ‘Troasury, Aud It may uut be unprofitable just Lers 1o recall to the Houss tho clrcumatanccs which st tho time meds the Natioual ty to the Governwent, At 110 oulbreak thcro wars cousldorauly avor s thuusaud Eulo banks, uf vorious dugrecs of responeibdlity, or iipesvoustuility, weattured thronulout tha coualry, ‘Thelr charters dewsnded thy redewption of thelr bllL in wpocn, wud, under the Jressurs of Wit sujuico- y, thelr sggregate cireulation waw kept within de. coud thuite: Lu the smount of it was, fu wmost duatuncee, W2 Lo tho diserction of the Directors, sl ot B AW of heds bunkd loued $I0 bllle for oue of Stie tn i vaulte, Wilh o yassga of thy Lagal-Tender act, however, followed by #u ouorLoun fseus of Uovernment tutes, the Blate banks would wo longer be roquired fo redeewm in |pwlohnnl would therefury at ouce tood thy country with tlieir own Lills, wud take from the Qoverement its rewourco i that ‘dizection. To_ restrict anid lailt thielr efrculation, aud 1o 1aks tho banke u8 Delypfo) us possilic iu the great work of sustalolog the Govorus went fuatocs, the Nationalellank act was yavsed, Thia act requlred, 1 elfect, that cvery bank should loau ts cutleu espital stock t tic Goverunent, or, in othier words, qulnvul [ in‘hnuummm Londs; aud i then, ou vy busd, vith " Trowuter of' - tho United “Hatest " {he Lunk utght pezelve nob excecdivg 00 per cent of thelr amount In circulating notew, the Qovernment halding the houds for the protection ot {uo bill-hiolder in cane the bauk abould fall, ~And thnt, fu brfef, {s_prectaoly what a_Nalionat bank ia (o-day: 1 do not eay the ayatem is perfect. 1 tlo not feel calied upon to rsh to ita sdvocacy or 118 defense, 1 do not doubt that, a8 we go forward, we may find mans pojuts in which the ryatem can be fmproved, Jut this | am hold to maintain,—that, contrastad with ANy other wys- tem of Lanking Ui county hias everhad, 1t 18 IMMEASUNALLY BUPEWIOR | anil whoover aska, an tume Damoacrats now do, fur it n, With & View of gelting back any aystem of A blind losdor; and s Yery deep ditch of ad disnater awaita’ the followers, 1f the peo. D10 sliould over be ao blinded 2 to takta Lhai fatal sten, 1t 14 greatly to bs deplorad, Mr. Qaalrman, that mauy candiu taen bave conceived fhin notion that 1t Wottid be asaving o the people {f all haukn could be dispenised with) and the cireulating medium Lo fae- nlated by the Qoverntuent ieautuyg lawsl-tondors, I do not rtop hiere (o ardue that this would te in violas 41on of the Government's pledygo nut {4 haus morn than four kundred milllona of its vwn hotes, T merely re- mark tiat thiat pladge i binding S lionor until logal- teniders are redoemable In cain on presentation, sud, when that point In reached, there wili n 10 drsiee, an tharo will cortainly bo no uecessity, fur tho (ovurns ment issuing addittonsl notes, The grost and, ta my Huind, inanswerable objection 1o thin nchemo ix, that it places the circency wholly in the powor aud’ uoisr the diroction of Cougress, Now, Congress hist_ aiwaze been, and always will b guvermed by a partiran majority, represanting oue of £ rsislcal partics of thie Countey § wnd the propost= tiom, therafore, teduces itacl to this: that the ejrcn. Intitig medinn, tnviesd of having s fixad, delerminato charactee, shall ba sbifted, and (changed, and manipus Iated secatding 10 the suphoscd ieods of ¢ (e prrty, 1 profesy, Sr. Chalrmat, 10 lave Aolig knowiedga of the American Cougreas; 1ta goneral chiaracter, its pot. sannel, ita ecopo, ite lmill, it power, I thiuk, o tha wholo, that {13 far moro patrlotlo, lntelllgent, and upright body of men than it gaueraily getn ctedit foe in tho country i but, at tho samo tinie, 1 can possitily concelvo uf 10 nsaemblage of respectabio entlomen 1 1o Unltod Blates MOnE UTTRRLY UNFITTED to determine from time {0 tima the anount of clecaln- tion required by * tho wants of trade.” But, muesd, 30 bady of men_cosid bo intrusted with that pawer. Even 11 1t wora possible to trust thelr dlcrotiou, their intogrity would be canstanily under suspicion, It they Jec(oriiod thets dutles with the Jurlty of wu shyol of ight, they coulll not auccesafully repel thoso charges wiiich always fallow whoro tha temptation to do wrong “fn powerful and tho way sany. Expetienco would vory #00n denioustrate thiat by KOO COTTUDE OF COMTUPLDG devico, no wilder or nioce vielonary project, over en- tered the bralu of tha schemer or the empiri 1f Ao poople of tho Unlied Btales wero fully awako and aroused o thair interests, and_contd see tilngs o tlicy are, fustead of fneronslug the power of Cougress OS€r the currency, they woulll, by the ahiorteat practl- €ablo process, divores tho two, completely and forover. il thin can'only bo 4000 finally, lectually, Jtrovor sibly, by the UEAUMPTION OF AI'ECIE PAYMENT, Why, Mr, Chairtaun, ¢ 14 hardly an oxagg:eation to say that, over slnce the Government was compelied to resort to Srradeomabls curroncy darlug the War, tho annombling of Congreat and ita contitivanco I acalon Liavol cen tho mast disturbing clemenis fn the husle nest of the count=y, 1t In Nitarally trio that no man can toll what a day may bring fortih. One largs fntec- et Jooks nopefully fo contraction and tho loweriog of the Rold prewiiim s anotlior 1a ruined unlss thero 8 muci n movemont foward oxpausion as will send gold up, Esct wide, of coursc, cndeavors 10 juflu- enco ond convince Congress. Lotk stdos naturally hava thelr sympathlzlng advocatcs on this floor; and henco thio aubstantial businees juterests of the conntry arokopttn o feverish, doubtful, specilative atato, “Men's mindn are turnedl from biotiest tndustry to hcbemou of financial gambling, the public moraia mullor, old-fashifuned Integrity is forgotien, and wolld, enduriug prospenis, with Nonast gals and quiut con. {entmont, rondereil impossiblo, Wo havo sufierad tls far in pernaps as light o degreo as conld be ox- poctad ttidor Lhe circnmstanced: Lt onte adopk tis insans lies that ail currency shall be fssund directly by tho Government, and {hat Congress aball bo tho Judga of the amount demanded by the “wants of frae, and you bave s counry adrith rudder- sz, on A SEA OF TRODDLES, BIORELESS AXD AOUNDLESS. 1t la o singular cireutmstance, Mr. Chialemnat —on of thoso ol huppenings somottmes brought about by rolitical mutntions—that those who nirge Lhla nchorio upon tle Government sro Democrats, overy ono uf hiom wanlt doubtice oinim o bo n tFas. dircipia of + all the evils of which Jack- eon warncd the country fu his famous coiitroversy with 1lio Unltod Btales Jiank aro a thousand.-fokd juag- nilled sud a thoussnd-fold aggravatod fn thisyplan of making the Treasury Departuiont ftaclf {lio bank, with Congress for tho Zovorning Bioard of Direclors, 1 cominend to gentlomen of Demoeratlo antacodents o carclul prrusal of Juckson's greak mossage of July 10, 1892; wnd 1 wish them to (ranxly teil this House how they think Jacksun woulil hiave rogarded tho ed- tablishment of n great national paper-uoney 1naohlug, 10 be tacated for alf timo in tho Treanury Dopartment, 4he Liila of which shioll bve no provision for tleir ro- demption, and the amouutof thvre bilis to bo deter- mint by's majorisy vobs i a party caucus, And then, after Jockson's veto-inessago aball linve Leon diligantly perused aud juwardly digested by tho Dothocratin advacatos of {rredesmable paper-monoy, I will sk ther i tho present Natlonal-Dank system 1loes not fully moet all of Jackuon's objoctions, uud it 1t fa not, fudecd, aa nearly s tho di and circumatances will porinit, wuch ing an Andrew Jacksou. And JACRHON INDINECTLY COMMENDED, aud 3 o professed hiuteelf ready to submit play for it _Congress suould desire {7 Dischimin have doue, uny special champlonship of the N Jlanke, bUt morcly refurring to facts of record, I oulil'ba giad (urtlier 4o uak If (e prosent eystein, 114 eatlrn freotum from mounopoly, being equally open {0 alt; if in tho abeolnle protoction it nffords to that innoctnt third party, the LAOIAEE (0o mun over hov- inig lost a dollar by the billa of Natlonul Bauks during {he {uittern years tho syatem has been In oporation, precedin wherens in the thirieen yoani the Toancs to the |;¢4:Tln by billa of Hiate “bauks exe cecded ity millons of dollars); If in that wnlversal © crodit attached o fls Dilis, #aving tho icopld ol lomves from oxchiangs or dis- count. wherover payinent 18 to Le mado within tho United States: 5t in it protoction of the rights of de- powltors? IF In itn strehtls nud Rolveucy fu time of stuancial dinsstert {f in lta gubjection to taxation, both by tho_Ueneral and Stato Goverainents, untl St' cou- othadly payaa heavler Lax than any ofhor spucios of proporiy € 1o o capacily o meamire, by the un- varying Iaw of supply sad demend, {he precisy ot of cleeulatlon tequired by tha * wunte of trade,"—I would bw glad, I rapeat, to usk nuy Demo- cratic apponent of i wyatent IF {t doen not, tn oaols and ull tuesa foatures, Bl tho lowl requiremant of bant an foresbisdowed 'Ly Jackson§ aud It it doca not, indeed, FAR THANSCEND ANY IDEAL JACKAON THAD, 12 fta frecdom for all {0 engago {n i, {n its abwainte socurity to tho public, and iu ila siggahye adspeation to it ana rogulator of the curreiey, prasenting une duo_ expansion and undue_ contraction will equat end unfalling certainty, and adjusting (taelf sl ones to tho specie-staindard wheuever the Gorernment shall placa 114 own notea nt yar with coin 7 I urged Uy tho opuiienia of tho banklug nystem thiat tho thiree Rundred aud twenty willions of banke circalation can b suppliod by legal-teudars, and the {ntercat on that amount of bonds atopped! How? Ducs any geutleman auppos that the bouda owued by 11 balak, and o depoutt §n o Trvanury, Will by oz- chunged for loyal-toudery uf & new aud fuftaled Inatie 7 Thoes Londs are payable, principal aud inlarest, I golds and, with (e preseut amont of Irgal-tender Tiotos, the'y aro worth in the wnarket from $1.16 ta Wiial will they bo warth fu_puper-moiiey when 1,25, you double the awonint of Iagal-tenders, and poatpous ilie day of apeciu-resmption fse beyoud tho visian of yrophet or seer? And tila enormuns {esuo of lugal- tondera to (ake the plice of bank-notes §s ouly tho Deginning of the policy to bo iuaugurated,” The “yanty of trudo'* woull spoedily demend another femuy, for the ewential natnre of an lerelemullo curraney 14 st it lies no 1ot Ul 8 resction 14 born o CHUSIING DISARTER, A fesmon mlght bo learned (Ly thoss wiiling 1o bo tanght by fuct and_experience) from the coire of events during tho Wat, - When wo liad $130,00,000 nf legal-touder {n_clrenlatton, it alood fur a Jony while ncarly ut psewith gold, A8 the {mue Increased in awount, the deyrecistion was very rapid; and, at the thue we fixed the $400,002,000 Hiit, that whols vast pui had lexs purchasg power, i exchange for Luudw, or botsos, or muorchndise, an the 315,000,000 had two years betore, In tho springof 1862, $160,000,- W ol Jegal-touder would Luy s the market §147,000,- 000 f gubi cot, T June, 1664, $100,60.000 of legal- teuder would buy ouly £140,000,000 in gold rolu, And. if wobiad uot tixed the four-undred-militon mfr, hut had gl\llll on |llu|lll( additianal amounts ac- cording to the © wanta of trad u,'l‘lutlilllvl argusd aud eratia o vo futis- tlou, the puechasing fower of the waureguts ass wanld iave been 1ade loss, suil the valin of the whnlo would huve gous down, dawn, Gl 18 reackiod that point of utter worthlvasuess which %o 1nsay 1Ike oxpori- ionts Liave reuchied beforas and the fgal-lender, with sll 1t vast capacity o good i @ great national Gristy, wouli Lave taken fts placa In history slangalds of the FRENCH ASSIONAT AND THE CONTINENTAYL OUN- neNCY, ‘Iho four-hundrod-militon Uil bapully syyed uy that direful experlence, and st ouco catiscd tho lugtal-tendor tnappreciate; but, unwilifug to Jearn Ly ihin atriking fact, thy fuUAtionists Wiklst Upnn & scietae bf «xpate ston which wouid apesdily maiso the peice uf bomdn to nprecedented fygured; und, by the time they whould wticesed in purchasing thoao that now stand os Natioue al-Bunk cireniation, they would Liave fncreansd the n: thmal debt by countivas millione, and, {ustead of ! Iz a saving for the Trosxnry, they would end by toe PRving it uf the elght mitliond of tax aunually pald l:'y {fie Lanks, otd the peoplo would have Ioat tho dd{- toual exnt millious of local tazes derived from the vauie souree, 15388 Lot apoken of (he confuslon, (Lo dlatress, the ruta, that would reaalt from furcig tweuty-one hundred banks suddeuly to whsd up thr atlairs, with early & thousand milbons of doilars dus them, which I poime f0Fi muat nerds Lo lquidated s paid. The comtierclal fabrle of tha cauntry reuts upon the banks credity, snd o wort of fluauctsl lunacy could Qixtnzbance, \Whoover would Auks, under tho delusion that they cun Do diivun L0 sureender teir bonds for tuflalen Togal-toudery, knows listlo of the luws of Auance, and atiil lesa of thio laws of Luman action, mong the suvmalies preseuted in tho ourrency discusnion, Mz, Ubalraan, is, that tne Weat and fha Houth ahould have ud large an Mlement slamoruily fup Of ol “sectiony futertated by the wpeclo. it staudsrd, THE WEST AXD TUF SOUTH BTAXD Flnwy, "Uhe groat ataples produced 1n tLose vart and fe reglous—wheat, cor, our, beef, pork, hides, toba bomp, cottoy, nce, aud sugur—sra inevitatly and peroulptortly 'subjected to the gold-ataudard when wald, 'Tho price of cotton seut to Lowell is just as much deteriuied by the gald-standard i3 exporiedt to Sanchestor, snd the bresdatury New_ York aro dafly equstod with the prices of the Liverpoal Gorn-Exrhiaoge, And o of allthe other cowmiodities, And yet wo hear roprevcniatives of the Rrest Sotereaty thias are thus compeiled to sell at gold. Jriven resniuto ind datermind iu tholr deiusale ths Lioy abatl bo sllowed 10 purchiase all thelr suppliea ou tho poper-basis, Wheu it is remembered that the whole of tho annual orop in this country, reckon- ing all products, rosches the enormoun amofint of thren thousand mliiions on tho gold-tew, and_ that thio surplia hot conautied by tho prodicers fa many hundreds of millione of doliars, snd (hat the valus of tho whols I eatimated by the golilsstandard, the farm. are of tha country may And profitable fosd for re. flection in caleulating WIAT TIE AORICULTURAL INTERFAT FLosLa overy year by an irredeomahblo paper curroney. O rost and leading utereat of my awn aud other States hisa muTored, atill niors, and will_eontinie $o Autfer Ao larig ne the currency (@ of feredesmable - pees 1 mean the ahip-buslding and navigation infors «et,—ano that docs more for tha couniry, And ankn fon from it, thau any othier except the agricultiral ; an iu- tereat that represonta vur distincliyo nationality in all cllinea and u‘pon ail gose; an futorsal moro en- sentially and jotensely’ American than nuy other “that falls undar ihe leglelstive pawer of tha Government, and which asks only to<lay to be laft whore the founders of the Republic phiced #t a hundeed yoars sjfo, Glva us the sama bania uf currcncy that our great competitors of the Dritleh Euiplra enjoy, and we will, within the lifetime of thoss now living, (loat s larger tonnage unier the Amarlcan 1iag than was ever enrolled by one nationality since tho scionco 6f navigation has beon known Amoog men, Ajyn, more, air; give us the spocie-basia, aud the merchant marfus of Americs, aalling into all zones and gathering galn from all contiuents, wiil bring back to ont shoren it goldan profits. and spply to w8 that coin which will steady our systom and offset the draina that weaken un 1n ollior directionn, 1ut alpa butlt on the papor-basis cannot competo with tho Tower-priced onea of the old. basia; anil whoover au- vucates a perpetuity of paperanoney fu this country confoasra hin pradinoss aud willlngneas to BAGRIFICE THE NAVIGATION AND GOMMENOIAL 1N~ TEREST FOIL ALL TIME. Tt 10 often the snbject of repraach by lin apponents of the Itopublican party that len yoars bave elapand minve th Warclosed, and nothitg afective Las bosn doue foward tho tesumption of apecio-payment, Even A thia woro true, the Democrats aro not juatified in making sho charge, for theie party-organization hins bowu the principal obstaclo and stumbling-block in tho wayof resumption. Hat, it fact, 4 great deal lias boen done toward specie-piyinent Ly proventing intla- 1o annl keapiug the Uovernment thus far within the four-hnudred-million limit, Todo this, it has been Docossary 10 wago b very sharp wir with the Demo- erats, aud_againat thelr demanda Lhat the national debt be pold 1o jogal-tender notes, 'The Nepublicans bavo had thetr ands full thus far to malntala tho do- m common lionesty, s matter of fact, however, T any quiie willing to ad- mit that, during theas ten years, no pusitive sud vig- oroun Alépa bayo been taken totrard apeclc-paymen B0 lony 34 thu business of the country was progressing Eeanonubly wall, 1t wa3 not practicablo or ponsible to fet to work aeliberately, withont the pressuro of no- cenrlty, to force specla-rerumptivn, Every man of affalra knowa Instinctively, without argument, that thts was ro; and bo knows Why it was €o. Thaugh not haviog tho same moral1asuo fnvolved, wa wero situated very much as Alr, Pitt fouud himself when ked why lia did not bring in s bill for tho suppres- ou of tlio rlave-trado, Ila eald, “Tho Briatol mer- chants are too strong for tho Sliniatry, because a0 munyhlmuuu fu tho Kingdon: are conibected with . e, Lut now tho caso §s changed. Over-trading, the wild spieit of epeculation, the unduo cspansion of credits, havo worked out ielr legitimato and fnovita- Dlo rosttts, and, with & full volims of paper-money, tho craali cawno} pricon kave fallen, cottling.dsy has arrived, paiufal' linnidation proceeds, and tho wholo commercial nnd Soancial fabrio 1u asitling down on 8 solld foundatlon. ~Esperionce convinces whers pro- copt falls only on deaf ears, ond fo-dsy wo bave men hy the thousand longing and asking for a return lo apocie, who, threw years ngo, would have violenily op- pored it. To atteinpt now €0 build up busincss by urther nflation of tho currency fuvolven A TREORY H0 WILD AND DENTRUCTIVE that ¢ Tequires o man of qeat uerve oe of krost cotr- age {o propose ft. Indecd, the shicek to conlldetico by thio panlo of 1473 was 84 great that zaany commoditics, and eapeclally many fabrics, are bolow thelr normal prica; aud a tirm, clear, decfsfve step In tho diroction of n sonnd, redeamablo ‘curroncy, imparting atobility ta onr Anancial aystom and confidonce ta tha people, would, u tho Judgment of our bhest merchanta an mautfacturers, Lo followod by & rise in prices, by o quick and widespread demand for Iabor, and by o generows and geaeral rosival of trado nfd businesa thraughout tho conntry, And, beyond that, wo snould suter tipon v oxport tiadu tr our faurice, mich as wo have not drcamed ofyin tho paat, The tme s ripe for it, ontward cirewinstances ars all propitious, and it ouly remaina for Congress to givo to the cotntry a steady chrrensy, and the bounding suergy and onter- prigo of oup poiplo will do the reat, Thero 18 not o collon-plantation in the 8outh, not o rain or geazing farm in the Weat, nol a coal-pit or ron-furnace in_Tenussivania or Ollo, not s mant- factory in Now En‘;hm!‘, not 3 shlp-yard on tho At Tautioeoat, nok a lumber.camp from tho Penobrzat to tho Columbita, not a mile of rullway botween thn two azeaus, that would not feut ths quickeulng, gatnful jn- tluenc of u tinal aud goneral acquiencerios tu meas- urca looking ta_specis-payment. Tho Ropublicans mieditato no’ harali, or linety, or destructive pollcy ou this guestion,~but ons that sliall bo PN, CONSIDERATE, AND CONCLUSIVE, The Detnocracy, by refusiog to co-operats n the oud work, can Xnop the matter in agltstion and pro~ finiz tho ors of dullacsy and Inactivily 1 tho Conutey. Itaving stubboraly refieul to voio for legal-iiders wison tho satvation of (ho Unlon demanded them, that party can now fUingly comploto ita fiuatelal rocord by Fustating all bonout offorts to rostore tha apeclo-stand- ot {o tilo poople, Wa aro told, howeyor, Mr. Chairman, fn tones of most solomn warning, that thia country fs.aot able to wafntain its paper-money at par with coin, 8le, I ro~ Ject tho sugucatiun with noors, and it aceins to e, if cauld ho porauaded of ita tenth, 1 should bo nahiamed to riso Su the American Congrvas.and prociim 1t, Hero In Californis, ons of our youngent Statea (thirly members of (ho Unlon being néutor to ber), with a vast territory aud & mparto population, auio fo maintain coln-payment, and maintaining it through a fluanctal storm of ferrific iorcv, and, by reason of it, m- gaining o positlon of scivency and safoly with 8 fopidlty and o corlsiniy o whleh the pajwr.bashs sordn 1o porallel‘but onfy & contrast. 1ere, to thy north of us, les the Dominlon of Canads, mrotellug from Newfolndlai to tha bondors of Alaska, with an inbuspitablo cliuiato s soll in_great part inferior to ours, conmmerco chevked and saspeadod all tho year Ly froren rivers, manufuctures scant, cride, and un- doveloped; with u population throughout the whola Territory fot 80 lurgy 8 that of New York, aud with wealth greatly luferior to thatof the Lmyire blate; with a dvbt o8 largo, in proportlon to peagile, sud product, and property, as our own; und yot Cannda FINDS NO DIFFICULTY IN MAINTAINING 8PECIE: VAYMENT, And_at Torouto, Montresl, aud Halifax tho Amerl. catt tourist le mncked sud tuado ssbummed by thio alght of coln dotisrs und £old cagles ffom our own min culating frecly an curreucy among 8 peopla whosy wealth and resources aro but au juconstdarable frac. tiou of ourown maguificent {nburitance uad poss seanlans, Whou'tho Natlousl Governmant was organized in 1753, the most Mberal catimate of the property of the entirs thirtcen Btatea placed It at $6.0,0L0,000,—lens thau the wealth of Doston or of Chicago toalyy, The population was four mitllous, shawing & property of §150 ta eacls [nlabitant, By o cousus of Ju70, our population kad fucreaned 10 thirty-elght mitlions, and our weaith to thirty thousand millions, showing $hy por capila for the wholo people, Our population buit incruaned fu tho cighty lulerveulug years ot quits tenefold, but our wealth had increased fty-fold, Thy puirioto of 1790, with their whender recurcos, did not hesitato to nawumo a natioual debt of nluuty milllons <f dollars, being moro than one-seventh of thelr ntiro passosaioun: aud it nver accured to thom that su_abandonmeut of thu mpecie-hasts would ko their burden lghitor, They knew, fram thefr terriblo experience with Conllueutal cureency, that all thelr evila would bo palafully fucroteed by fosort Lo papor: wmoney Aud lu thele poverty, with 1o sccuimulated with naunfactures In” feeblest infaney, with 0 undavelaged, with law pirlces for tacir agri- cultural products, they maiotained the gold sud wlivar siaudard, they pabil thetr griab tobt, they grew riel fn the property which ws inherited, but far richer in toat BLIGHT, UNSULLIKD JONOR WHICH TUEY ALSO D~ QUEATIED T0 U4, To-day, the totsl debty uf the Amurican yeopls, na- tional, Htate, and municipal, aro nut ro largo ju pro- portinh (o alfeady acqubred property as wan the uatlon. ul debt alone in 1700, Aud, when wo take Joto the aor count the relative productive power of thutwa periods, onr preseut hurdens aro abeolutely Inoanslderable When wo reficct what the railway, tho tolegraph, the mechairlcal inventions and ogenciea hava duno for e in tho way of lucrcalng onr capacily fur producing wealtl, wa should Lo sabamed {0 pretoud tlist Wo cuntiol béar larger burdens than ourancostors, Aml remomber, r. Obalran, tint aur wialth fram 1700 to 1810 Incrosed nore than fiv 1imes aa ravidly 88 our popuiation, sud that the samo dovolopment {8 even uow progressing with 6 colse tinuslly-aceolerating ratio, ~ Kewomber, also, that tho snnual ncons and oarninga uof 'our peapls oro larger than those Of auy Europesn sountry,— larger thau tGow of Englaud, or France, 'or Tussia, or the German Lmpire. The Engliah peaplo stand uoxt 10 us, Lt we are largoly iu suvauce of thiem, 'Thio aunual {ucomo of our entiry people rxe cerds pix thousand millions - gold, ami, despit tiuanclal roverses’sad rovulalaus, fn sioadily tncrass- i 1 vluw of tuose fucts, It would Lo an USPABDONALLE ORAT, WEARNENS IN OUR PEo- TLE— always herolo when beroisn is domanded—to doubt ADF owah eopacily W mamtels speeopayuient, 1am not willtyg, wyself, to acknowledgo thaty us u prople, e a0 lens honorablo, lors calirugeatin, OF lesn comijos tont than werw our wicestors fu 1790 atill leww am © roudy to own thiat Lo people of tho entire Union bave pal the pluck and tbo capacly of our friuds sl Kiusmen fu Califoruta; and jast ‘of all woulil I cousean that the United Htates of Attieria, with 44,000,000 of ubisbitante, with ptereliory surpisslug sl Eurore in ares, i L might aluiost aay all tho workl i forlility of urces, Ao RO 6 10 do what a Lanatul of ritish subyucts, acaltered from Cape Raco o Vaue couver’s Jsiand, can 4o 50 eauliy, w0 Mteadily, aud g3 successfully. Ar. Cliairman, one greatroubls in thfs whiols Soan- clal yjuieation Lias been the Keucral, aud (or wunuy ysars tho growiug, ispouitlon of our yeoplu nok to Feward th leyul-tefider oo 33 & debt of tns Governmivnt, bul rather b somothing which 14 nover to by paid Such was fiok the ftelibg a1nung the Peaple when thy Jogal-tenders frst sppeared, sud L1bink this srrunsous aud injurious couceptivn reaulted from un act of Cous gress which lu & wost vital polnt cisnged (bo clisrao. torof the notes, When the firet three byndred mill Joueof 16gul-oiders ware iated, tiey caild Lo fuudud at thu option of the holler, 1u 8.0 bonda, 16 wui uf £30 sud auy wultiple thorsof, This provaion gave & fized, dotermiuste character 1o tho legal-tender, cone Dected §) with olber Governmens issues by an squsted valus, wmade 44 an integral part of our whols wystem of publia " credit, snd estab- dishied it, {n short, ss & wort of balauce-wheol to aur somewhit complicated finsncial wachinery, Bo long £8 tbat provivion was ia force, Lhe monvy of ihie peoplu Was praciarly aa good aud just theasme us the monsy of tue bundlialler, 1y & inlstiken policy, ae I ven- ture o ailiria, thi acctlon of the law, ou {hu request Of Becratary Cliase, way ryy ealed after duo noticw glye {:C; and, tae moweut that waa dons, the lvgal-lendor n aine A KOBT OF ¥FINANCIAL ORPHAX awmong us; it liad thenceformand no counection or re. | AR 10 bo roleased, wnd g ; it jationsbip with any ofuer lasuy by the Uovcrament; it sacamired nolhing itaell, and wag mazanred hy noth- ingiand, cver sfuce that day, It ey had to Aght [ta awn Datlle, not mePay unabded by other fornm af public grodlt, bt in ' & welise conatantly hindead by thein. To ertablish o Ao, ntaady Valup for it tider thoay cleeimatancen, wore 24 fmpossihla 04 to deferminea poutd aylrdipols without teferened to the law of wravitalon, Comareds baviug taken nag the proviston for s dimptin, the pubiic have haturally come o rogaet the Igal-teanlir ae a1y frvedseminbiles and one of tho firat Atopa towand reannption i to cliauge that impresaian, by reviving thy funding ngivilvge, boid of lower rato with estonded timeand s limita- tion on the antonnt that couta Lo fauded In given yeriod, Aa an amelioration to tho doblar cias, Hio Anagestion ias boew mado that tho bouda o which the legaltenders atiowld be {liux thomacivea be mada s legal-tendor 1 « tracted prlor to the yaseaga af the act, T have iordt, but T nlioukd dasiro to ¢ very fully (o alllts boatings beforo_sseonting to i, and eapoctally na 40 ita effict on tha salue of the Tegals {ander noto, snd cleo nr b afs constitutlonality. We hiave dons much to tatntaln our publio credit,” but I think wo DEGAN AT THE WRONO RND wien wa mado npoecial exorlion to Talxo the pelca of our bonds and left the legal-dendar to take carent itacit, 1lad wa devolod our cuergles to bringing the Iegal-tondor to pat with coin, tho bond would tiave folinwed but, unfortunatoly, wa hiave found that tho revoraais not the cass, For mynelf, I confess L always fecl sanaied to seo oue honds quoted ak large pro- minm, whilo our legnl-tenders arant a hoavy and, whils thero hias boen 1o lttle domsgugiory tho bonduolding class geiting tholr poy 10 coln’ an tho law directs, I have woadercd that tho mass of onr poopls eo qilatly enduto belng deprived uf old for fhoir Togal-teudere, aa tho law in lts apieit equslly guarantoes, But whether wo shiafl succeo or stiall fafl {n reator- ing to the Unlted States moten tho funding privilegs with which they woro origiually sndowed, I muat here rarord my esrriest “T="#4T AGAINGT TAE. POLICY OP NEPEALING TIE LEGAL-TENDER CLAUBK which as givon to tliesa notes thoir groat atrenalls as » circulatiog modiam, I cannot seo Low the Guvern. ment it connintently deprive thens notan of thiolr lo. gl-tender quality until it {6 ready to redeam thun in coin on presontatfon; and when it {8 Ao ready to re decm them, what need or advantago will thero Lo (n rafaing tho question 7 And [havo nover nearid any srgunent b all ssiafactory Loy mind Wat (o ro. o cal of ' tho lcgaltonder clousa would tend o make romumitlon casler, On the cou- trary, b seaws to mo that ft would ren- der Tesumption far mora difleult than 1t wlil otherwlno provo; that it would throw an_undus ahare of tho hnrden oo the bankn; that it would fotco thein into tha moat rigld contraction, nud needlomty cnprln thelr power of dlscount; thus plunging tho wholu conntry Inlo confusion, distarblug credits, om- barrassiug payments, fatally doranging Lusiuess, and croriug widesproad 'distress amoug tho people, It would ba s peculiarly sovera blow to the debtor ciass, and would make resumption to them tho signal of bankruptey and rutu, All swine logislation toward ro- sumption will tako caro that no Lcodiora burdeu Lo thrown on tiose who Liavo debts{o pay, and that fn tho tranultion, the banks shiall by kepl In Auch & condi- tion an will mako them ns helpful ae possible to the buslnoss-community, But this paliey wonld drivo the banks inta & strugale for self-prosorvation, I whicl DETORS WOULD NECESSARILY B BAGNIVIGED, 1t T correetly apprebend the sonnd publio fudgment on ihla queation, thero i no deaire todestroy tho ogal- tender character of ho nofe, but o seftied detorm: tlon folringit to par Wil coin, aud by thid scaua bring_ overy baok-note to tho samo ntandard, This policy will restoro Uio colu of tho country, of which we ate produciug over clzbily miflilons per annum, o act- ive ciraulation fnthe cimuncts of trade, and will result oot only In making our money better, but assuredly maro pluntiful amang the pooplo, It 8 o humitatin; fact thiat, produciug s wodo n far larger amount of preciona metal than all the reat of the world beaido, wa drivalt futo exvort bocaudo wa will not ereate & do- mond for It at home, And tho minera of tho Vaclfis alopo are furnishing the clronlating medtum for every country uf the civillzod world oxcept thfr uwl, whoso fiuancial policy to-day outlaws and uzpateiates fho product of their labor, Tho act providiug for rosumption In 1870 requires, Inthe judyuent of the Becrotaty of the Treasticy, soia addltiovat leyialation to make It practical aud efl fective. As It atands, it fixes a dale, Lut gives no ade- quato Drocess; and tho paramount duty of Congrens s to provide a process, And, in ull Iogislation luok- ing to that end, it must bo borne in mini tiet, nnicss wa move In harinouy wilh tho grost Lusiucis-intorssl of tho country, woshall assuredly fufl, Bpucio fuy- wment can only Te brouglt nbont Ly WINE AND WLLL-UONSIDEBED LEOT4LATION, Lseed on tho experienco of other nations, amliodying the motured wisdom of the country, hoaltLfuily pros mulgating all Tegitimate busluoss, aiid corefully avoid- g evorythiug that ;may tend to create fear and tlistrust amoug the poople. Tu other woris,what we mowt iood an th outyrowth of legislation 11 coufidence, public and privato, genoral and fndividual, To-day wo aro wuf- ferlog Trom tho Umidity of capdtal; und, so long an the ora of donbt and wncertaluty prevais, that timide ity will contiuue and jnruase. Hiopa toward inllation will makio it chronio; unwlse ateps tovard resnmption will not rustors it, ~ {Vo will Linva discharged our full duly i Congress if wa can maturo n woasuro which will steadlly advaaco our currenuy to the apocio-atun- dard, and, at the same timo, work In harmony with tho raviving luduatries and groat commorclal wants of il conntry, Iu any oveat, Mr, Chairman, whalover wo muay da, or whatevor wo may loave undone, on this whalo fiuan’ cinl quention, let ut not duludo ourselves with the bo- Jief that wa can escapo the speclo-slandird, IT BULES UB TO-DAY, and lias rated ua througlout the wile Iegal-tender , Just ua sbeslutely s though wo wero Jaying celving coiu daily. Uur work, our fabrics, our commoditios, are all measured by it, nud, 80 ladyt aa we cliug to {rradeomable papor, wa heve afl iho bues dens aud disadvantages of the gold-standard, with uoua of iia alds, and gains, and proita, * Tho thing whicl alls heon §s that which ahall bo," Tho kreat law-giver of antiquity records, in the vory opeuling chapter of Geueats, thut % Tho gold of the land of Havilah Is gool.” * And, with nnother preclons metal, it ban uaintained fta rank to this day. - No ustion has ever siicceaded in oatablishing any oibce standard of valiio; 110 nation s ever mudo tho exporiment ox- copt nt great cost aud Aurrow; and tha advocates of Leredeeiiablo muney to<Iny v but suking s to travel tho worn am! weary road, travelod so many times Lo- fore,—u road that lan alwoys cnded {n disaster, and often In disgrace, —— An Arsonic=Eroof stomach. Truy (¥, 1%) Limes. A 13-year-old daughter of n Mr. Ilagg, resfd- ing near Whitehall, 1s exciting the attention of tha physicinns aud solentlllo men tn thiot viem- ity. Bome time ago Mr, 1'lagg pat somo nrsenic ou #ome bread und placed it in n portion of thn houso frequentod by rats, The Lrend suddenly dinapnenred, and agaln aud aguie other pleccs wero piaced fu tho same lovality, with Lhe eawme rosult, ilo finally detormined to watch und as- cortain, it possiblo, what bocamo of it, 1le Lad not long to wait before lio was horror stricken to obeurvo Uiy little duughter walk away from tho E!ncu, crowming her mouth with tho polroned rosd. A phiysiclan waa seut for, aad befure his arrival tho sobbing ohild made known to hor mrunm tliat ubio liad oaten il the broad that Lud i prepared for tho rats, aud that sho liked it bottor than auything sbe Lad ever tastod. Tha plyasician way uurrrlnud, and thinking, possibly, that the drig might not bo arsonle, ko examiued it and found it srsonic boyoud a doubt, Lo ktill furthor test it ha tried a nmall quantity of it on cat, which quickly gent tho animal jnto convul- riony, cauning it dealh - vory soon atterwards. What seoma remarkablo, too, i tho fact that ovar ainco tho cluld firat tasted arsonfo it Las bogged for tho deadly dm? timo and time agaln, About a yeur 8 go the giel £111 sick with lits, Noth- g would briog bor oul of the convuluions. In hot quiet momonts nhe would beg incassantly for ntvonie, Tho pliywician in attondauce, bellov- ingz that tho girl could not pos«ibly recovor, vou- tured to givo 1t to liors Tho child dovoured {t with avidity, and in less than threo days sho was ad woll as usual, Hibes thon sha biag beon given tho doadly poison st difforent times, the only eifoot it having upon her being to mako hor ap- Eenr well, bright, and cloerful, 1o caso las con laid bofora suvernl sclentifio men, alt of whom pronotinco it ouo of tho must romarkable phenomena of theuge. e —n Mount Vernon to e Dunoe Up, Battizere Gazelte, It 8 understood that the home of Wushington at Mount Vornonis to bo put i thorouglh ro- pwir beforo tho wrrival of visitors to bhe Goutens nial, ufter plans drawn by AMr. Van Campen '1'!{10?, the architoct, of New York, Mr, Taylor vislted the homestend recently, sud ia now eu- gaged in druwing plans of the entiro bullding, ko that in cuno of ll destruction by flre it way be wobuilt oxactly wa it now stonds, Aleog the eutirg east wide of tho housa runs n high piszza fuoing the rivor. 'I'ho lunytt of this Is U4 foot, and the wiath 14, The balustrade above the Binzzu fs somawhat rottod and roquires to bo ro- ulity aud the samo kind of wood will be mn- ployed in the reconstruction as was originally used, At tho south ond of the houes, sud opou- ing from Washiugton's library, thoro is a portion avout 10 by 20 foet b wize, “I''na was eroctecd abont the year 1790, when Washington added 1wo Wings to tho _erlglull bouse of Lawrence Wanhington. 'This, too, is to be revuilt, and tho nocessary rupairs will be mado eatly i the vom- log spning, “On this pinzze stonds the pillar and tho boll with which Washington used to sum mon hin horas, which was kept nuddled mnd bridled in readiness for hia call, A lowmely Mon’s Wit. Abdnl Aziz—~anys Lord Btaloybndge—Is not Imporvious to tho shafis of wit, Ouoce in s {uun“u days, s ho waa hunting in tho valley, ha wot ono moruiug e the day dawoed ap un- commanly ugly man, ut tlo sight of whoms his horso stariud, Dewg noarly dismounted, deom- ing it a Lad omon, hu celled vut 1 » ruge (o buve hnd hoad wtruck olf. ‘Tho poor peassul, sttsotn thoy had seized aud wers un tho point of executing, prayed that Lo wight bo juformed of biu erime. ** Your critwe,” sald the Bultan, **ls out uulucky counteuance, which s tho tirst ob- inct T saw this moruing, sud which uunl;f caused wo to fell from my horse.” *¢ Afas (" said the mav, ** by this reckoning what torm must Lapply to your Majealy's countsnsuce, which in the firut objeot wy eyt mot thls woru- o] 10k, aud which is to cagne my deats #” 'Iho Hul- tau wnilod at tho wit of the reply, ordersd the i & prosent iue stead of taking off Liy b QUEEN VICTORIA, How She Opencd the Session of Tarvlinment, Hor Majesty Hailed by Half-n-Million of Peoplo, Scenes on {he Street and In the Parliament Houge. e Nispateh ta New Vork Theals, Loxpos, Feb, 1,—Tho ay ro loug expected by Lon- donurs broke unfoetunately with respect to thy vondl. tlon of tue weathor, 'Taors was raln and & loaden sky, witl klight tinesles of anow. 1t was iy no meaus tho Queen's weatlier of which Tondon fogends apeak, TIE MUSTER OF TUH VEOPLE. As was gencerally tho caso on the oscasibn of the Queen's visits Ju tho eatlior part of ier rolqu, long be- foro noon afl (ko approachion to Weatminetor and Ick- fngham Pataco wers crowded, and st hialt-pant 2 ln the afternoon at Teast 600,000 peaplo wora out, fucluding, of course, a gaod wprinkling of tho rougher clement, who wore more anxions to see Dr, Kouzaly than the Queen, ‘Tho route fror tho palace along tha 3all was gusrd- oil by a fine dotachimont of Lifo (fuards ond tho Twen- tleth Regimeut of 1fussars, THE POLICE—CALLS FOIl JOIN DNOWN, Col, Hendurson, with n strong body of police, waa' busy in keoplnys back the roughor eloment and chiatls. ing a fer who ironleally oapressed n wish to seo John Brown, Imust ndd that ono fudividual who passed inoulting remarka sbout the Queen was Instantly knocked down, : The procesnlon of carriages went along with a tull ¢complomant of gaudy flunkies and of relinie, the yant couconrio exbiriling great enrlosity, but evidontly moro intinenced by a desico lo sew this pageaniry than 10 express thelr loyalty. HER MAJESTY'H AVPEARANCE AND WEARING, Thelr demeanor was reapectful as the Queen pasted, looking youn, fresh, cheerful, and rathst fmperions, and howing gracofully, and evidently plessed. Iiesido her aat the Pritcess of Wale, sud opposite hier tho Priucess eatrico, Tho chevring was siight, but sin- cero, Tho Roysl carrings was drawn by the clght cream- colored traditfonol Hanoverisn biorses, barnessed with splendid teaprings, Followiog Ier Sajenty's caino carrlagrea—alf olosed, as waa the Queon's—with house. hold dignitaries, leaving ouly the tiuukies $o be sdmir- od by the crowd, A fiup corps of Life Guards, nccompanied by ofcers ot tho respective corps of ¥éoman of the Gitard aud entlouen-at-Arms, closed tho procevaion, THE MATGNA CIIADTIAT AGITATION. Notting Important occuered during the paasage to Westminater, if T excopt tho ridiculoun disturbances of Magna-Chartists, who bad dotermined to escort Dr, Keoealy, with ilagrs'and bauners, o tho 1ouss of Par- Tiament, Homonf tha banuora wero fnscribed, ¢ Afl Honor {o Kenealy t# ¢ Ali Iionorto Sir Itoger Tiche Lorug " Tl pullce, fortunately, prevented thelr ap- roach to Wesliinstor, anid they ‘retired toward Tra- algar Bnuare,—Kencaly, in a closs carriage, bringing Uy tho rear, 1o was greoled by hootings from the crowd, the people belng dotermitied not to permit sush ridiculous aud blackguavdiy a farce, IN THE PARLIAMEN [-5I0USE, In the louso of Commons, niembera bogan 1o arrive 88 thy hour of noou_ waa Loomlng from tle clook tow- e, Uneor two furlively pesped In, and, inding the liall ompty #ava for tlie already crowded, press-gallory, Then otbors arrived, and when s group s rong was formed lu the lobby they overcauso thote foelingx uf modesty which 80 powerfully Animate the British AL P, oud eutored the cLamber. A (ORUEOUSLY DRILLIANT ABSEMULAGE. Then fowed, in steady atreau, Poers, Pesrcason, Am- Beasador, ofliclals, courtlery, Bishops, Geuerals; in fact, tho whale categury of Lor ritual and tempo= ral, robed in scarlot sud ermine, bod lending a eplen- id mnasy of color to the alrsady gorgeous soetio, | The two long sldes of tho room were ocoupled by Pooresses and Iadios of distinction, In front of them waas donole row of Fcers, Two middia of the floor was oo- cupled by Judgos, iaguificent jewels blazed from tho masa of Iaulos, suno of whom carried fortunce in their dladons and coronets of diamonds, Eyery other fady had ou an ormive cloak, acarcely less fare and coutly than the jowola themnelves, MISISTER BCHENCE, Awmong tha first arrivals of the diplomatic body exma Minluter Kcliouck, olad in & ajor Genoral's uni- furmn, 1ie was uifablo and diguifiod, oud evidently & groat favarile, being accorted by matly of the aatiot- Taled Peotw, by members of his own corps, and the Duits of Cambridgo, who chsticd plessantiy with him for a looy timo, Tho first of the ceromontal was the entzance of the Lord Chancellor, peocvded by the mace and piirse- roru, SIEMBERS OF TIE NOYAL PAMILY, Then, !lmlllhmumlll{ Lho 1louss rose on the en- tratico G ti6 Priucess Mary nnd the Duclies of Ll Lurg. ‘Thoy wero sacorted by the Duke of Ediubucg und Duka of Cambridge to Tho woolsack, The Royal Dukey thien sat together in front of tho Opposition bench, Both wero drossud in thele Pecra’ rolos, Aftor n short pause, four Lursulvants, gorgeously cind, croseed, Lowing low, between tho Throns and Ttoyal Princeaves, after which thy oralds slowly buok s thodr poaition on the luft of the Thruue, Tilk WELCOME TO THE QUEEN, Tho eplondid audienco now rods (o welcome the Quoen At the Priucesn of Walea and Princass Dica- trive, hefore whom, on tho right, walked the Miarquis of Viiuchoster, bearing tho Cap of Malntonance, sud tlneo to whom'was she Duke of Richmond, in Foer's Tabes, curtying tho Bword of Buate, OXN THE THUONR, Thao Quoca walked atraigli to_the Throne, and seat- ed Lieralf, having on her Tight Princess Dedtrice, and on her left Priucess Louise; the Merauis of Winclioa- tor, wilh the Cap of AMulitenanve, standiug on ths right, and tho Duke of Lichmond, holting in both i tho Sword of State and standing stifity at **at~ ntlon," on the left, Tho J'tinceus of Wales pat Immediately in_ front of Her Majeaty, botwoen tho Duchessos of Edinglnrg aud Teck, olifud ths ompty aoat of tho Princo of Walcy 8tood thie Lord Chancellor, Close by wera the Dukius of Norfolk and Norihumberland, tho ‘latter earrylng, on a crimson cuahlon, the crown of Eogland, the jowels of which shicd out » flood of ligLt, ‘THE COMAMONH COMMANDED TO ATTEND. efug uealed, thy Queen ‘motioned slightly with her hand, and orderwl that the Houso of Commons be nae seinbled, A tueswoujior wan then dispatelisd to sum- mon the Houss of Commons to the prescuce of the Queen; and o fow miuutea of abrolute allonce and atiliuowu fullowod,—a utriking contraat to the rustlo of #ilks aud mutmur of voloes {hat liad prevalled but a short timo before, Then thero camo a sound of qulck- ly-tramping fect, constuully Incrossing in intcusity, until M, Sposker taade hia” appearanca at tho bar of the Iouso of Lords, followed by tho wsual sud offen- described rushi of the ora swift and activo of the sembers, It the frond rak of thesy was the Lritne Mintster, loakiny s it Lis rout during tho vacation hud Deeu of 110 sual) service (o bim, A s0ou sa the nofse of the avrival had been hushed, the Lord Oancotlor aidyauced to he foot of tho Throne, and sad he was commantfed by Ifer Majenty ta read tho spesch, sud that ho wotlld do wo In” linr Mafesty's own words, At this statement thero was probably some goneral seusa of digappointment, Ax the Chancellor procoedod, tho Queen sat with oyea cast down aud almost absoliitoly stilf, a atnglo niight movomont of Ler fan being all that waa'at auy thuo perceptiblo, 1EI SAJENTY'S APPRATANCE AND DRESS, \ Daring tho interval 7 had ttme (o obeerve Her Mnjoaty, Bhe wore dark-purple yrivet robes, out Bquaraly in the body aud (rimmed with rich'lace, Across iha breast was the biue ribbon of the Ordar of the Qartor, snd o large dlamond clasped her druas i front. Around her neak was n maguifiant neckisce of dfamondy, trenbling with light nt cvery movement of Lor bewd, Whioh waa adorned with tam or' diamonds, snd ndditions ha:o boon mado from Limo totima, atill tho unwilliagness to tear down and uso plek and crowbar ovor tho sito of the old buildings provuuiod athorough roarrangemont; this wil now be dono, and it is bollovod that hotoalter an accldonf, A0 far na oight yoars' exporlencn cag eut o1 provido, will “be an impossibility, bong inv honrs' work ovory doy will ba the liwiit of mwerwlacluring, Only fiftoon minutes of this thne vt bo used (n bandliug the explosive miatorinl ; thwo remninder of tho timo will be npant In aloaring up &nd preparing for the noxt day's run. Thua denger will at teaat be reduced o a jptmum, A NEW CONBPIRACY. Combinntion te Effectn flepeal of the fown Rajirond! Tartlt Law—A, Fow Newspnpors Platting with tha fown ‘Tom Hcott=Iliniket Too Short to Cover tho Marplots To the Editor of The Chicam? Tribume : Des Moiwes, Is, Fob 8—~Tho Jong and woarylng stmgglo of yeavs pant betweon tLo pooplo aud the powerfal eatlwaya is familar o all. Liko all contests, in which the peoplo constitute ono * party, and ne matter what the other, {lis former oame out {rinmphant, The inch-lre-inch resiatanco an the part of tho rallrosds ehiowed their de- termination not to be boaten. The raliwaya wero animated not so much by spprebended lossos from the operation of the regulaking and rostricting sct. aa by » determination to doleas the right of the -peoplo to intorfers with the *veeted righta® of corporations, or in any near or romote senso *‘impsir ths obligation of con- | tracta™ defoed in thoir chartors, (Seo Darse month Collogo czae.) But the powor of the peopla through legisiation and- judicial interpra-: (ation has boon domonstrated, which constitutes o first chapler in tho struggla, 3 . The next move fa to dofeat the pooplo by [n- diroction and stoslth, It Laving been demon- atrated that tho peopla Lave wome rights whicl tlse railrosds are bound to rospoot, tho latter have abandonod the field of opon battle, and takou to the brush for stratogio bushwhacking. This 18 & confeesivn that our Oenoral Assembly is rosolved once for all to koop on the alde of tho people, and to afford them protection whone over and Ly whomsoover assauited in open war- faro. The ablo men who aro now hore looking aftor ralirond intoresta are écheming to outwin Loth the Legislaturo and tho people ; aud it must bo confessed that their plan has tho meric of ounuing snd pisusibility, it nons other. No durect advances will bo msdo; flani movementa only will bo employed, 'Yhoro will be nomarshal- ing of profound lawyors, encamped in regimont of Iaw libraries, to vonfuso tho fogislative mind writh the subtlo abstractions of constitutional Iaw, ‘Tho old Dartmonth Colioge case, with all that it impiles, will 'be loft to ros in the for« sakeu nilo-pits whoro the railway wquadrons wera routed two yoars ago. Hardes's étandard tactica will Lo lald by, and a now syetem of evo- iution, iudigenous to Jowa, will bo relied npon, It bay boon rosolved to capture this Logise laturo; bow to do it is tho queation. Thls Las beon carotully studied by tho Tows Tom Scost and his co-workoers, aud & achome agrood upon. The programmg Las boen marked ous, and its machinery put in modou, winlo at ouco the *ULand bogius to ploy.” At must be confessed that the acheme posss: the elcmonta of success, but, unforsunately, tha achomors are on indiscrost odd lot. ‘Lhoy * talk too much with their mouths,” and the compo~ uont poits of tho ill-assorted combination, who are seou {n vary closo communion,—at table, at the side-board, aud oven in bed,—is Bo sugges- tivo na to occasion much romark. Alroady it nas boon deuominsted tue ** Mule Bchome,"—jn al. Jusion to the promlnouco of tho oar-marks visi- blu in it4 ovary past, Tho scliomo is— 1. ''ho utter oventual ropesl of the Tarill Iaw, leaving tho peoplo to the swoet morcy of rail roads 84 of oid. 2. Tbis 13 to be sccomplishod by tho cheeso- paring process ; At first a ** modification ™ will bo esked for, acoompanied with s virtuous and indignant denial of mny purpose to impair the law in 1ta emsential provisions: Whioh iuto any, repeal tho tariff rates upon froight, loaviug that relating to passengers uudisturoed. ‘Iliat 18 the **moditication " saked for. 4. In roturn for this conccasion the railwaQy wiil accept tho #suporvision of the Commussiouve system over their operations,—the Commission- ors_to be olothed with the negalive power to gathor and report data to tho General Assombly ut its bienuinl seesions. 4. 'I'hla moditication 18 not sought by the rail« roads, not they! but by tho poopls who are “gulforing from the {mpovorishivg iuequall- tics" of the law, on which ground tha demand for repeal will ullimately be mnde in the form of an amendmont or substitute to the so-oalled “modlfication bill,” well on toward tho heol of the sossion. How futhis tobs dono? Itis tho simploss (hiug 1 tho world whou seon. 'I'te people can'y go porsoually in huudreds of thousavds bufore tho Loglalaturo aud personally pray for deliver= auce, nud, a8 it i too late to circulate poticiona and get thien ju botimos, they all with oue view will ehout tholr domanda through the nowa- papors. And suroly the Lemulature will nof prosume $o dofy tho great jouruals of the Stato] ‘I'ho lowa Tom Beott, who is quiotly hers, will dictato tothe handy Bohomiansliore i tho capao- ity of ** Capital correspundants ' Just what to iuterwonyo into lottors for u dozen Gr so of the country papers, which in turn will bo copicd with stnnuing head-lines iuto tho two or throa induontinl duitics which sro thoe well-fed cats under the meal, Already this band has bogun to play—tho first instaliments of tno * populsr domand " having lpi)en‘od almost annultangously i two or thros of tha retainod dallicd. Ono of thoao, it 18 notorlons, is mainly owned aud wholly controlied, as to ting question, by a prowinoos railroad maa aud oii- cinl, while auother is tho too witling ocho of ila more pratoutious contewporary, Both uro play- ing their blind haudy, and Lwo or Lhroa conntry wooklios, well known to obsorvers, are feably put awkwardly imitatiog’ their ME uucles, the dailles, 'Ihe music in discordant, however, and tho bellowa-blowers are plajuly discornible boe Lind the worvens, 'Two athor dailics have beon sout for and *‘consulted" with reforeuce to “business,” and soon auother batch of * public opinion " will e sl wider distribution, and tuo ** pooplo's " scliemo for forcing the Lugisla- wure iuto graotiug shem *refiof " will bear down upon tho asssmblod wisdom with resistlces wolght, No *trepenl™ will bo aaked for by the “loading journal it 18 only o moditication thoy etk In sho pamo of tho sufforing pru- ducerd, To-uny aud overy day you will try in vain to dobato the queation with tho umilivg managers of thid sohome. Thoy want notblog; it 1s o Uu her Lisnda wore black kid_ gloves, farmiug, with a black fan, an odil oxcoption f that brilllant assombly, PHRESENTING TIHE 8PE] [ Kneeling ou oue knoe, the Lord Chsncellor presented the speveh ta tho Quedn. With a rlight goAture the Queen wilontly motioud Tilm to retain it, 1l bowing low, ratire backward, and, standing a few paces to thio'right of the Throne, read the specch, MUER MAIESTY RETIRES, When tha dellyery of tho speech was over, the Queen roko and bowad coremonfously (o tha right am! left, s, nitting tho itoue, pussod out of thy (Gaiise, Al W oVOE, Over Wrso fiours waiting bad Lwas ro- wardod Ly permission to dwell upon the glories o2’ fimpoalng_caremony which lasted but fifteen minu Urout watlataction fu wapressed by all classos ut-the Quoen's reappearance, Loudon Loped that this Jn- auguratos a reuewal of cauct-lifo and fostivitses, n hWoolboys. Lonfille Cotrier=dournal, ‘Thn young Liooda of Harrison County dou't tako Lindly to the wholesomo uso of the rod, A tenchor bainod Josoph Judy, o the Clayasvillo {uwmut of that county, ~while sitempting 0 correct a wcholar pamod Edward Dryaut, was firod wpon by a brothor of the youug bopatul, tho ball passing across Judv's breast, inflicting & pajnful wound, Edward thon bore o itid, siabbing tho teacher in tho rikht ubiouldor intlleting o wound which would have prav_n(l fatal had tho knifu blado ranged downward iu. #tead of upward. Tho duticulty origiuated in the attomptad corraction of another brothor o fuw doys beforo, iu which the teacher Lad been worsted, and whon Edward was *haulod np” » mora violout atiack on tho touclior was mado the ordur of the day in tho Dryant family. Eoth of the yogug mon bhave boen atrested, aud it is to be lioped will have meted out to them a salu- tary punistment. Faward Dryaot {s abous 10 yours of ago, and tho brothor who did thg shioot- g is not 18, Mr. Judy {8 epoken of sa of good charactor and atauding, and a most discroot ana worthy youug o, U Tho Munnufucture of Nitro«Glycorine, Nprangichl{Muss) Republican, Vrofcexor Mowbray will put up o two ntory wooden Lullding ut North Adams, 100 feot by BU, uu tho eitoof Lin late glycorine warks, 1t is inteudod to no model tho new worke that b, o supply of warua and cold alr, and warm an cold water, with leadon floor, the risks from epiling pitro-giycerine, and from thawing out when 1L huyeongealnd, will lierealtor bo eutirely rumoved. At il o closo of each day's worl: thio fast voatiges, whathor of uitro-glycoriuo, soid vapors, Of water improgosted with the sains, will bo cutirely cleared away. As origlually oo atruoted thesa works were uot completed in thig renpoct, and although freauent reconsiruction *“peoplo™ who spesk thmurh tha *feading jonroxle,” Tasp iuto tho dining-room of thy Havery and yon will seo tho youthtul Iowa Tom Beott cosily eandwichod betwosn the nominal editors uf two * leading dallios.” Observo how Lo frowns upon the aiternate spponls of thowe represontatives and champions of thae psople for ropeal, and noto how Lu ™ thrico puts away the crown,” aud will only sccept s * modiflcavion,* 1i'a & #couo for & paintor, Lodides our own journals, that Cblcago ropro- sentative of tho Westoru Grangems, sho lnkr Ocvan, is to contnibute fis voluutary and disiutorested md for the ‘‘rohof of lowa shippers aud prodacors” Tuo J-0, will not advise ‘*repeat,"—no, *modilication,” you know, Faebls imitations of Uta *“Walk up, Bratow!” wilt atruggle through fts muddy columos, and, when ths pur. poeo aud crooked mothods are known, tho offeol . upon the publio mind will be much tho same, Your corrospoudeut bego to ansure this il ssgortod, ill-contrived, sud ill-maunged Mttl coosplracy that thero are numorons eyea boariug full upon them, aud that they will be uuable te suncessfully solvo this littlo problem of ¢ adulic tion, divieion, aud sileucs.” T'ho people of Iuws neishor have nor will potition for a ropoal of the “Carilt Iaw, nor will any honeat man **demand” this *‘moditication," wlich ia ru‘mul by anather name. Toat tho low ls favorablo to the poople a8 & whiolo, 14 nogatively Emvud Ly the uxistouot ol the atoaltby schema I have haroiu aucoversd to seoury ity abolition, 1t juto be regrotted thal tho two ar threo jouroals alladed to hwye len! themsefvans to this schemo of decoption in fraod of tho lo, for tho ammunition they atu vaing always doos fs8 worss muschiof at the broech, [t is a bold plot, sud from the moment Tn Tomuxe roachen thly Capital it will ba quietly lald aside, fogetber with the Guy Fawkes conspirators who gave it ita short Jcues of lifo, Orp Puoss, ———— Madivon County In Trouble. Springetd (L) Jeurnat, The financisl atfaive of Madimon County, in this Btute, are representad to be ln a very uue eatinfactory cutidition, The oounty debt i1 cutimated a4 balf a million—aat an rnllmx sum, it would socm, for & county posseasing tL¢ wealth of Madison~—while {n consoquenco of the fuilure to collect taxes, tho coun {lrualuryll ewnty snd county orders aro solilog at 20 pet cout discount, lix tho mesutimo the County Commiaslonors bava got itto s guarsel with the Couaty Collector, whioeo bond they biavo rotused to spprove, and the collection of taxes is sus- runnud 1a consoquance. 14 will thus bo scen Las Springfleld sud Ohicago aro not tho onls localitien troubled byxibe tax question just Dow, v nol anly 1