Chicago Daily Tribune Newspaper, February 18, 1876, Page 4

4 TERMS OF THE TRIBUNE, TATRS OF AUBSORIPTION (PAYABLE IN ADVANCE), Poatage Prepald at this Ofce, ] Daily Rditlon, postpaid. 1 ve 813,00 Parts of yeu n o 1.00 3!1":!!’!‘ Rfifl, .ddl:lel‘c:t’k‘}"lnd Hellgions Double Bhest. 2.00 600 Pe of yaas te. WERXLY RDITION, FOSTPAID. 8.4 ik we witl pupuf Bpecimen coplea sent froo. Taprevent delay and mistakes, ba surs and giva Fost- Office address in fall, including Btate and County. Remittances may bo made either by draft, express, Post-Offios order, or fn reglatered lotters, at our risk. YEAMS 0 CITY SUBSCRIDERS. Daily, delivered, Aunday excopted, 25 cents per week, Oally, delirered, Bunday included, () conta por week. o Address THE TRIDUNE CUMPANY, a4 b Chleago 11t AMUSEMENT! ADELFIIT THEATRE—Deatborn sireet, corner Monros, Variety performance. THEATRE—Randolph street, between reve dolph street, Clerg ans et he Galferaia Ainsireis, OKER'S THEATRE—Madison street, between Do g BlaterFogegemient of Mr. and Mlre, We T Fioranca t+Tiso Mighty Doliar.” WOOD'S MUSEUM—~Mofiros strost, betwoen Dear- born and Stata, *Devotion.” ‘cOORIIOR WALL—North Clatk atreet, corner of Wgzla, Concert by thie Gormsn Military Band. BOCIETY MEETINGS. WASHINGTON CHAPTET, NO, 43, T A, M.—Teg- it Couvocadon s (Fridsy) evenin, 84790 elock. s R e el thwiteds - by ordae of jona _core M, e S T Gl RE. B, WRIGLT, Bacretary, ORIENTAL LODGE, NO, 33, A., F. & A, M.—Siated Communication m(L I(JFm‘") I!i“nr!:“' ;n& h;xlfln‘:u 'k 8 E. egree. order of the Mastar, il ’B. N, TUCKER, Becretary. The @hiisags Tribuse. Friday Morning, February 18, 1876, . Greenbncks at tho New York Gold Ex- chango yesterday closed at 87%. ‘Wo aro mifi’?fifififlfifin man that warmer weather moy bo expocted in this locality to-day. bLis resignation as Minister to England. This ls denied in Wasbington, but it is plainly intimnted that his resignation and its prompt scceptanco are among the near probabilitics, T —————— Another fearful steamship disaster occurred on tho English const yesterday., T'wo steam. ors camo in-collision near the port of Dover, the shock resulting in the explonion of the boilers of one of the vessels, causing her to gink within a few minutes. Tifty-two per. sons went down with the ill-fotod vessel. Tho other stenmer was badly erippled, but managed to keep above water until she could ba towed to ber dook. Tho Ohio Legislature has created a new and important function of the office of Stata Commissioner of Railronde. By the adop- tion of a resolution to that effoct Lo is in- structed to uso his whole authority to prevent throe-card monte men and pickpockets from “working tho traina” on the Olio railroads. Ho is to ask further legislation if necessary, Lot him ask, for ono thing, authority to arm overy conductor and brakemnn with a shot. gun which will go off.and persuade the monte swindlers and pickpockets to do likewise. It is asserted in our,Washingtan dispatches that Bruromp Wrirsoy, Bolicitor of the ‘Treasury, is certain to bo removed at an early day. Avory large number of people will earnestly hopo thero is no foundation for the rumor, and others will fervently pray that it prove true, It is quite essy to guess on which side the Whisky Ring and its political supporters are to bo found, but it is not so easy to beliove that they have mnde such hoadway with tho President ns is implied in the story of the intended removal of Solicitor ‘WiLsoN, . Gen. HunLout yesterday mado a speech at Belvidero, 111, inwhich herecited the lessony taught by his experienca of the pnst few months in the halls of Congress. He im- parted to his hearers a fair iden of the mgli- ness of the Confederate clement, which, lying torpid until tho warm sun of Northern magunanimity bhad gained tho zenith, then colled itsolf and gave the malignant rattle which has so recently startod the patriotic masses of the nation, In closing, the Gen. coral gave out that le was for Brave as n candidato for President. e ——— Our dispatches from the Brooklyn scandal hendquarters toll of stirring events and now and interesting phases of tho mammoth im. broglio. Thers is a letter from Qriven JomnsoN, a letter from Hexny O, Bowey, and o letter in the Sun rclative to n feature of the fearful jumble of filth and crime which s never before boen made pub. lic; and added to all this the lively proceed. ings of the Council, to which Judge Vax Corr, Mrs, MourToN's counsel, has been in- vited, are full of interest. 'The pot begins to Loil furiously, and the atmosphere is likely #o got nncomfortably warm before many days. There appears to bo n vory general impres- sion in tho Mississippi Iouso of ltepresenta. tives, slike smong the Republican and Demo- cratio members, that Dfvis, tho colored Tieutenant-Governor, is a bod lot. A com- mitteo last week reported recommending that ‘articles of impeachment be presonted in his case, one of the charges being that ho nceept- ed a bribe of §880 for the pardon of a con- victed mogro wife.murderer. Yeatorday the House voted upon the adoption of formal articles of impeachment, and there were but soven dissenting votes, Camvoza, State Superintendent of Education, ia also the un. Ysppy subject of impeachment procecdings. ——e The conflict of jurisdiction between the sderal and State Courts in Ilinols, precipi- 1ed by the action of Judge ‘TrrTon, of the deLean County Circuit Court, in instituting proceedings for contempt against the lawyers who hod argued the dispuled case in the United Btates Circuit Court, was brought to o direct issuo yesterdsy by Judge Duuxsonn 4n the granting of a writ of Zuleas corpus to the -two Chicago sttornoys arrested upon Judge Treron's order. 'The writ is returnable next Monday, and from the remarks of Judge Drummonn yesterdsy it is evident that tho Feoderal Court will assert its jurisdiction and leave Judge Trrron no alternative save that of gracefully stepping down and out of o «<ontest of his own provoking. — Tho Chicago produce markets were steadier yesterday., Meaa pork was active and 250 per brl higher, [closing at $21.35@21.47} for March and 82170 for April, Lard was in better demand and 200 per 100 Ibs higher, closing at $12.97§ for March, and $13.05 for April. Meats were in fair demand and finner, closing at 8}o for boxed shoulders, Jovce which purported to have come from Bancocg, and which they accepted as an THE CHICAGO TRIBUNE: FRIDAY, FEBRUARY 18, 1876, o e e e e e e e 11jc for do short ribs, and 120 for do short clears. Highwines wero quiet ond unchanged, at 81,00 por gallon. Flour was dull and stendy, Wheat wns moderatoly activo and o lower, closing at 81,01} for February and 98je for March, Corn waos active and jc higher, closing at 41jo cash and 42}a for March, Oats wera quiet and firm- or, closing at B81jo cash and 820 for March. Rye was quict at GGi@67c. Barley was otive and 2@2jc higher, closing at 626 for February and 61jo for March, Hogs wera nctive nnd strong, with sales at $7.00@8.50 for inferior to oxtrn. Cattle wero in good domand and unchanged. Sheep ruled firm at $4,00@5.75 for poor to choico. One hun. dred dollarain gold would buy $114.75 in greonbacks at the close. Gen, Bancock's defense closed yesterday, and it is understood that Mr, Stonns will this morning formally request the Conrt to advige the jury to rendor a verdict of aeqnit- tal forthwith, npon the ground that the prosecntion, having closed their case, havo completely failed to establish tho charges set forth in tho indictment. Yesterday's developments wonld seom to strougthen this movement and render its success oxtremoly probable. A St. Louis letter- carrier testified to having restored to Jovce the two letters which Eventst saw senled and addressed to Aveny and Bancocs, nud which wera deposited in o street lottor-box, This testimony, unless impeached, completely sus. tains the theory of tho defenso that Jovce was playing n confldence.gnmo on the St. Louia distillers, pretending to forward their bribe-money to Washington, but in fact packeting the whole of it. The stenmboat men of Detroit are propar- ing for n vigorous opposition to the project of a railroad bridge ncross the river at that city, They will shortly present a reply to tho argument of Mr. Joy, President of the Michigan Central Railrond, in which they will endeavor {o show that the construction of the bridge will greatly impede navigation and delay the trapsportation of freight, and will thus imposa & burdon of at least $1,000,000 onnually. Chicago is represonted ns strongly indorsing the bridge project, but if a goneral oexpression of views wore to be obtained at this time from our morchants and shippers it would donbtless trapspire that Chicago's ro- cont experionco in froight discrimination has somewhat cooled her ardor in reference to Mr. Jox's pet scheme, and has opened her eyes to the importanco of keeping in mind tho interests of tho water routes to the sen~ board as well as thoso of the railroads. A Washington dispatch of Wednesday told o neat littlo story to tho effect that tho Gov- ernmont steamer Dispatch was ready to snil with sealed orders, aud intimated that her mission had something to do with tlio Cuban business, thus preparing the publie mind for some startling ovent. It now appears that #hera wero some innccuracies in tha above. mentioned telegram. It is ascertained boyond o perndventure that tho Government, has a vessel propelled by steam, which vessel is recorded in the Navy Department ns the stenmer Dispatch. It is also known that this wvessol is liable, s her name indicates, to be sent upon any trifling errand from ono At~ lantio port to another, and her mission at the same time not be important enough to war- rant a press dispatch announcing the fact. Tho nub of the original story is, howaver, spoiled by the later announcement that the vesgel has not received sealed orders, and it is not publicly known that she has received any orders at all. TRIAL OF GEN. BADCOCK. Tho last two days’ have made a decided chango in the aspect of the Bancoox trinl. The closing day in tho ovidence on the part of the prosocution left the case in an incom- plete condition, The moat that can bo said is that the testimony introduced by tho Gov- ernment, and accepted by the Court, estab- lished n strong suspicion; but this suspicion was loft without tho essentinl eloments of proof, The testimony actunlly taken and the mysterious dispatches introduced cer. tainly looked badly enough for Gen. Ban. coox as far a8 it wont, but ot the very point when it was expectod that the connection of theso dispatches with tho whisky frauds would be indubitably shown, there was o “ missing link,” 1t might have been sup- plied, perhaps, by the admission of ths ovi- dence offored by Bevis and Frazen, the St. Louis distillers, and Bartoy, the mannager of tho Indiana Brvauaxs® whisky business; but this evidenco was excluded by the Court. Tho exclusion of it seems to have been in nc- cordance with the rules of law. It was intended to show by these witnessos that they had read letters shown them by smplo guaranteo ngainst exposuro, and as an inducement for continuing tho manufacture of “ crooked " whisky, The Court held that, it the Government counsel had alrendy con- nected Gen. Bancock with the conspiracy, thon such ovidenco might be taken as con- firmatory and cumulative ; but that it could not bo secepted, so long as the lotters wore not produced and identified, as an evidenco in itself of Bancoor’s connection with the Ring. The reason of this is plain enough. If it wns Jovce's purposa to deceive tho distillers and mako them believa that they were protected in Washington, then it was on casy matter for him to show thom lettors from Bancock which Rancock had never written, It would unquestionably bo unrea- sonable to demand Bancock's conviction on tho testimony that such letters had been geen by certain persons in the nbsonce of the lctters themselves, and of any direct evi- dence that Bancocx had actually written them, Here wag tho wonk placo in the prose- cution, The first day's work on the part of the de. fense was also very favorsble to Gen. Bap. coox. The thoory of the oxplanation of Ban- cocx's pssociation with such wen 28 Jovce snd McDonarp is entirely plausible. At the time when lottersanddispatches were passing between thom, theso mon wero in the confi. denco of the Government and eatitled to receve consideration from tho person ocou. pying the close relations with tho President which Bancocg held. His nssociation with them was further cemented by common pos litleal interests, Joyce sent him articles {rom various newspapers relative to the San Domingo purchaso and Gen. GRaNt's pros pects in Mlissouri, which were intended to persuade Bancoox that he (Joror) was con- spicuously efiicient in promoting the political fortunes of Gen. Guant and tho Itepublican party in his State. It was to thoso articles that Bascook referred, as tho defenso holds, when ho acknowledged the receipt of a let- ter from Joyce **with inclosure,” It {s also to be offered in evidence for the defense that Joxor was in tho habit of taking letters from the PostOffice aftervhe had mailed them, which will go far toward establishing a bolief that ho did this with the letter le showed containing $600 to bo ment to DBancocr. The theory of the defenso is that Joxer. and McDoxaLp wero using Bancock's namo without warrant for tho purpose of per~ suading tho 8t. Louis distillers that thoy were protected at Washington, and to induca thom to run off large qunntities of * crooked” whisky ; and also that the information they received from Washington relntive to tho movements of the detectives camo from Rev- enue Agent Hooz, who wag awnre of all the movoments, and who was also in the cmploy of the Ring. The letters which lave beon produced from Hoor to Bixoiadt sustain this theory, As Bancocr's caso now stands, it may bo snid that there has been sufficiontly strong evidenco on the part of the Government to justify the suspicion of his implication in the whisky frauds, and to warrant the indictment that wns found agaiust him, but not enough o warrant his conviction, If the caso were closed at the present juncture, the verdict at worst conld only bo of tho model of the Scotch jury, viz: *Not prov. en DBut if tho defense go further and give a rensounnble explanntion of Bancook's using a fictitions name and initinls in his dis~ patches to the Bt. Louis conspiratora and ‘Whisky Ring, then n full verdict of *Not guiity ” may bo expected. The ciplier tele- grams which passed botween Bapcock and Luckey during the AveRy trial have no direct bearing on the question of Bancock's guilt or innocenco, sinco they cvinco at the most n desire on the part of Bancock to avoid go- ing to St. Louis during the Avery trial if ho could,—a desire that would be naturalenough if ho wero entirely innocent. Thero s certninly everyrenson to hope that the ontiro evidence will be such as to make n verdict of * Not guilty " inevitable, and com- mend such na verdict to all intelligent and eandid people. It would bo n most unfortu- nnte seandal if it woro shown that the chief secrotary and most intimate associate of the President was notually involved in this huge. and raseally business, Meanwhile it is cer- tain that nothing has been left undono on the part of the Govornment counnsel to run down every clew that secemed to point to Bancock's implication; and, if ho establishes his innocenee in spite of thia vigorous prosecution, it will ba a doublo victory for tho Government., It will be at onco n thorough vindication of those nearest the President, and an ovidence that they were not permitted to oscn(:n from any lack of offort on the part of the Government officers, THE REW MONETARY BYSTEM, The inflntionists, at their Convontious on ‘Wednesday in Indiana nnd Illinois, while not adopting the samo phraseology in the ex- pression of thoir idens upon finance and cur- roncy, woro substantially agrocd as to thoir domands, While it is dificult to treat tho procoedings of theso Convontions seriously, or to treat their propositions as worthy of ealm discussion, nevertlieless there aro many people who houestly believe that the wild theories, reckless assnptions, and ignorant and chaotic conclusions put forth by these Conventions do contain some truth, snd therofore it is that we give to the anb- joct time and space to whlcq it is not really ontitled. : ‘Wo shall treat the action of both Conven- tions on this question of currency ng of one body, representing a distinet party, seeking the establishment of a common policy. The reader will bo struck with the distinctive featuro of this policy, which is that it does awny with tho wholo character of greenbacks 88 7motes. The idea of Treasury notes, or legal-tonder notes, or national notes, is care. tully ehut out; the Government is required to prohibit overy form of ciroulating ** notes,” and i to issue paper “ money ” in lien there- of. The ekisting currency consists of notes on which it is written that tho United States promise to pay ‘‘ono dollar,” This platform of 187G, however, ignores this promiso, ex- cludes all theory of a promise to pay dollars, or promiso of any kind. It insists wpon the issue of paper money on which shall be writ- ten an nssertion of value; which is tobon dollar in fact, ita own redeemer, and be of itself final payment. promise deponding on future performance; ench It is to be no moro pisco of paper is to proclaim “This is ono dollar,” and this statutory money is to be made receivablo in all tho business tronsactions of tho country ns monoy | The nssumption s that it will be received as dollars beeauso it is so stamped ; but, while tho Government may thus attompt to maka it reccivable for pnst-duo debts, thero cannot oven boan attompt made to compel persons to oxchange either Iabor or property thorefor, oxcept on such terms as tho partics may ngree upoun. The Govern. ment may stamp on the paper tho logoud This is a dollar,” but 1t cannot compel the grocer to give o barrel of flour for less than twonty or forty or sixty of the paper dollars, unless Lo chooso to do so, party demands the repeal of tho Resumption act, and of all otherlegislation which directly or indireotly commits the Government to the rodemption or paymont of any part of ita debt excopt in paper monoy or paper dollars. This is perfoctly consistent with the schemo of having & pormancnt systom of irredecem- able paper money. Of courso the ‘We confess to an inability to understand what is meant by ** a monotary systom based npon the faithi and resonrces of the nation in harmony with the gonius of tho Govern- ment.” ing of that phraso, ‘Wo are unabloto cxyaund the mean- ‘The monetary system which this now party proposes hns for its fundamental principle that it is in tho powor and it is the duty of tho Government to oreate money out of nothing ; to creato paper gold ; to give sub- stantial valuo to that which hns no value; and to compel mankind to accopt that as monoy which has no money value or other value, and which ia jncapable of having an intrinslo value. 1t is part of the fundamental priuciple of this party that tho credit of the United States and of its peoplo ebull rest up- on papor dollars, jrredeemable perpetually excopt in other paper dollars ; and that the United Btates shall sttempt to preserva its national existence and tha American people to romain & commorcial and manufacturing community. 'The wild negroes in the interi- or of Africa carry on business—that ia, trade with ono another—with tokens of no intrin. sio value. Why may not the forty-five mill- {fons of intelligent, civilized peoplo of tho United States do what the most ignerant and savage tribes accomplish ? « %¥ho African transacts his business ou a monetary systemin “ harmony with the genius of his nation,” and why may not the * genius” of the Amer- ican people profit by the example of the un. tutored savage ? The Conventions hold as a legal truth that there is nothing in the lawa roquiring the 5-20-bonds to-be paidin coin, aud therefore insist that sll much bonds shall be paid in greenbacks, They therofore discriininato be- tweon tho 5.20 bouds and the 10-{0 and othor fi per conts which on thelr faco are to be paid in gold. The interest on all the bonds §s roquired tobe paid in gold, Dut the Buprome Court hins decided that thegreon- bneks are promises.to-pay dollars,—not paper dollars, but gold dollars, If the 5£.20 bonds aro paynblo in greounbacks, they are, under tho decision of the Buprems Court, payable not in paper dollars, but in paper promises-to- pay gold dollats, The nbolition of greon. backs, or promises-to-pay gold dollars, and tho substitution of paper money which is not tobo redeomed at all, s theroforo a viola- tion of the contract with the holdors of the £-20 bonds, even aa that contract s Intorprot. ed by the paper-monoy party itsolf, Thoe new party demand a monetaty systom under which the paper monoy, not notes, ia to be interchangeabla into bonds benring 3.65 interent payablo in paper. The paper *money,"” boing so utterly dopreciated, will naturally and promptly seck investmont in tho bonds, becauso the bonds will have n value abovo the mongy to the extont of the interest, no matter how amall that mny be. Tho rosult, therefore, will bo, that the $720,- 000,000 paper dollara will pass into the form of an oqual amount of bonds, which at 3.65 por cont interest will require the payment of over $253,000,000 in other paper dollars an- nually for interest. It is trne, this would would produco such n contraction of tho cur- rency that the conntry might hope to resumo specio payment, but’of course tho remedy would bo a further issue of papor dollars *in harmony with tho genius of the nation"” and adapted to the demands of legitimate busi- nesd, Thus, in succession, the paper money aceking investment in bonds would be sue- ceeded by other paper money nnd by more bonds, until we will havo a national debt of anch proportions that tho only eseape thore. from will bo in wholesale repudiation, Tho declaration that oll the existingbonded debt shall be ealled in, and paper bonds, bear- ing paper intorest, substituted therefor, nat- urally raises tho question how theso soven- enteen hundred millions of gold bonds, bear- ing gold interest, aro to bo obtained, Their voluntary surrender and exchauge can hardly bo expected, aud their purchose in tho mar- ket must bo resorted to. IInve these porsons who honestly think such a scheme practicable ever estimated how mauy *“paper dollars” irrodeomnblo in gold it will take to purchaso n §100 bond of that character? If 1t takes Q118 of tho presont greenbacks to purchnse sitch n bond, how many papor dollars of the new system, sclling nt 80 to 40 conts on the dQollar, will it tako to purchase the whole out- standing dabt? If it takes 600 of the now paper dollars to purchaso n 100 gold bond, and the G00 paper dollars bo put into n 500 bond bearing 3. nterest, tho interest on the new bond will be somewhere in the neighlorhood of $18.25 per yenr in place of the €5 now paid on the origizal bond, As the daties on imports are to bo paid in paper dollars instend of gold dollars, the Government, until such time os it can pur. chaso the outstanding debt at the rate of $5 for $1, will have to purchnse gold to pay the ninety millions of gunual intercst, paying therefor whatever prico the holders of the gold may demand, At a moderato computa- tion, under flve yoars of tho now monetary system, if the Government could last that time, tho present public debt of two thonsand millions of dollars would bo increased to the sum of twenty thousand millions of dollars, and the nation and the people would be prostrated and ruined, without monoy, with- out credit, without Inw, or government,—a prey to anarchy and violence,—na dismembored TUnion, rnled only by the armed mob. This is the natural snd inoviteblo outcome of the monetary systom of the new party. portunity to reopen tho wholo matter and eut down tho appropriations. After spending nearly a month in reducing tho salaries of underpnid Consuls and outting down the pay of Foreigu Ministers bolow what the Demo- cratio party fixed them twenty years ngo, the Democrats might cortainly devote a little of their timo to tho real saving of monoy for which tho Pension Department offers 8o ex. callout an opportunity, It is probnbly time that the whole systom of disburaing the ponsions should be changod. There is no doubt that a service which now costs thio Government 12 per cent on tho amount disbursed would bo performed with ample guaranteo by privato contract for 2} or 3 por cont on tho nmount paid out. It ins been snggested that the Postmasters might supor- viso the npplications for peusions and audit the vouchers to be paid by draft from Wash. ington on tho Sub.Treasurigs. Such a chango would certainly reduco thocost to the Gova ornment, and it would probnbly lead tosa correction of many of tho abuses sud swin. dles now practiced on the Ponsion Bureau. For thore would then be a Ponsion Agent wherever thera is & Post-Office, and an appli- cation in person could bo insisted upon in overy case. In this way the long list of im. postors, and the large amount of monoy paid ont for deceased persons, widows who have remarried, and children who have como of ngo, could bo rapidly and enormously de- crensed, At all ovents, the prima facie evi- donco of oxtravaganco and fraud in the pen- sion disbursements ia too striking to warrant tho Houso in passing the Appropriation bill in bulk without canvassing the dotsils more closely. 8TEEL, . A high-tariff paper malken this statemont : Nelthier under the tariff of 1846, nor under the lawer one of 1857, inexorably roduced to the ravenue stand. ard 5o constantly recommended by Tnw Tntausr, were we able to produce tho atcel wo consumed, ex. cept only a small quantity of the commonest quality, ool steol was not muccesfully made in tho Unitod Btates until experiment had Leen encouraged by tarift ‘protection, ‘This item suppresses tho very important fact that stecl-manufacture mnde no hend- way in tho United States under any tariff until the English metbod of moking steol, invented by Hexny Brsseyen, was intro- duced into this country. By his great in. vontion, molten pig-motal is quickly and chenply convorted into steel by simply fore- ing a blast of sirinto it. Had not our steel- makers adopted tho Besseyenr process, no tariff ever dovised would help them. They aro now making cheap railroad stecl by that method in spitc of all the burden of an ultra-tariff on overything which is confessed tobeof mo use to them, ss they need no artificial proteation, but is a damage to them in every way. In rogard to tool steel, the beat of charcoal iron is nooded to mako it. The English pur- chaso the famous Swedish charconl pig and charcon! iron free of all tariff or duty, and with thom make the famons Shefield steel from which thelr cutlery is manufactured. It our toolstesl makors wero allowed to purchase Swedish charcoal pig and iron freo of duty, nnd our cutlery-makers and manu- fncturers who consume steol were permitted to purchaso Bhefflold stecl free of duty, it would vastly contributo to develop those im- poriant industries, and do much towards en- abling our hardware manufacturers to export their surplus wares, The English export twenty-five millionsa worth of hardware, while we export only onough to bo nshamed of. Wo have beforo us tho petition to Congress of about 400 consnmers of stecl- monufactures of cutlory and usors of groat quantities of tool stecl, earnestly praying tho Benato nnd Hounse of Ropresentatives to re- duca the exiating excessivo and destructive dutica on tool steel, oa it is crippling the in. dustries thoy carry on. They *¢ ask for a modification of the prosent grievously-bur- densomo tariff,” This is signed by 147 Mass- achnsaott firms, 17 Conngcticut establishments, 18 from Maine, 19 from Now Hampshiro, 4 from Vermont, 4 from Rhode Island, 2 from Indiana, 2 from Kentucky, 19 from Michigan, 28 from Missouri, 67 from New York, 54 from Ohio, and 18 firms from FPonnnsylvania. These cstablishments give employment to tens of thousands of workmen and have in- vested tons of millions of dollars, Thetr pamphlet seta forth somo of the ontrageous dutics they havo to pay on tool steel, viz. : On common stoels, which comprise those used in the manufacture of tablo knives and forks, hoes, rakes, forks, shovels, plows, $67.20 por ton ingold; on best cast stecls, used for making axes, edgo tools, saws, pock- ot outlery, mowing knives, oto., $105.65 per ton; on circulnr saw plates, $111.40 per ton, It is nonsense to talk of manufacturing such hardware for gale in foroign markets so longns such beastly dutios are imposed on the steol of which they are made, A NEW ROTION FOR RESUMING. Among tho members of the present Houso of Ropresentatives is the Hon. Gusrave Bonveiouen, from Texas, He is a German of ability and promise, He is known already in certain circles as the Democratio Oarn Bonvaz of tho House, Like most Gormans and all Texans, he is uncompromisingly in favor of honest monoy. Me knows and recognizes specic alona s real money. e rooently delivered in the House one of tho most striking specchies that has been mado in favor of speclo payments, and, while we are not prapared to give it an unqualified ap- proval, wo do not hesitate to pronounce it as immeasurably suporior to the policy of the Resumption act which now stands in the statute-books, and we dssiro to commend Mr, Bonveionzs for the bold and atraightforward utternnces on'tho subject of money which should put to the blush men of American birth who desire to keep our national cur. roncy below tho value of that of other nations, It is not necessary to repeat Mr, Sonvei- omen's nrguments and historical examples showing the superior ndvantages of o specie ourrency to any peoplo, for we have gone over the ground time and again, But he made one or two points which are now and ingenifous. Ho showed tho injustios of re- depming interest-bearing obligations of the Qovernment beforo paving off the non-inter- est-bearing notes, and cited a United States law of May 18, 1809, the first scction of which reads as follows B30, 3693, o o . Hutnone of the interest-boaring obligations pot already duo shall bo redeemed or paid before maturity, unloss at such time United Btates noteaare convertiblainto coin at the option of the Bolder, or unlesaat such timo bonds of tha United Btats bearing » lower rata of interest than tho bonds £0 bo redeomed can be sold at par in coln, It would certainly seom to bo the menning of this act that the Government should re. deem tho greenbacks before redeeming the bonds ; and yet the practice has been the very roverse, ‘The surplus acoumulated has been used constantly to buy in bonds, but no part of it bas been ewployed in the purchaso of the legal-tender notes. Another striking point in Mr, Bouvzionzn's spoech was that the premium on gold Las been steadily used ‘THE PENBION BUDGET., The House Approprintion bill for the pen- sion disbursements went to the Scnato in a shape approprinting specifically n cortain amount for army invalids, another for widows, minors, and dependent relatives, and still another for the survivors and widows of the War of 1812, ‘Tho Scnato did mot con- sider the details of the bill, but passod a bill appropristing in bulk the total amount agreed upon in tho House, viz,: $28,400,000. We regard this as an error on the port of tho Benate. It should have availed itsclf of tho subdivisions in the House bill to cut of a portion of the pensions altogether. T'ho million and a half appropriated on nccount of the War of 1812 might and ought to bo saved the country, for the slight militia services in that war havo been paid for over and over again long since. Thero ought also to ba material reductions by this timo in the mmnounts ap- propriated for widows and childron, who in the nature of things must kave de- crensed in number,—tho widows by, death and remnrriage, and the children by death and coming of age, It is now nearly fifteon years sinco the War bogan, and nearly eleven years since it closed. Cortainly during thot timo the deaths, remarringes, and aging of minors of both gexes ought to bhave made naterial roduotions in the pension rolls; yot, in spite of this, the aggregate amount appropriated js as large ns over, ¥Iad the Senato given tho bill the proper examination in dotail, it is scarcely to be doubted that they would have found abundant evidences of numerous froudulent disbursements in theso itoms that wonld have warranted a reduction in the ‘approprintions of several millions, Thero is certainly ono fenture in the man. agement of pensions which bears evidenco on its faco of grosa extravagance, Thisis the cost of disbursement, The Commissioner of Tonsions roports that it required last year £3,393,697 to poy out the pensions amount- ing to $29,500,000. Now this is nbout 12 per cent, while small collections can be made and disbnrsed through agents anywhere in tho country at from 2} to fipercont. It is ensier and choaper to disburse than to colloct ; yet the Government pays from thres to five times as much for disbursing the pensions as private peraoas pay for collecting their ducs. Nearly thres millions and @ half are annually paid out for salaries, foes, postage, printing, and tho other red-tape processes incident to tho pension disbursements, Tho salary and feo list hes increpsed from £250,- 000 in 1867, when the pension.ist was ncarly as Iargo as it is now, to 31,250,000 nt tho present time,—on increase of 500 per cont. 'This showing cannot bo explained or excused in any way satisfactory to the peo- ple, and no appropriation bill ghould bo passed without reducing the expenses for dis- bugsing the pensions in tho same ratio aa thoy have been increased, within tho Jast fow years, ¢ This reduction may’ still be mado by the Tlouse, since the Sonate have amended tho form of tho bill. It now goes back to the House for concurrenco in the smendmont, aud the Mouse may avail itsel? of this op- for the purposo of foroing the consumer fo pay nt loast doublowhat the nominal preminm is roported to be. e pnys the promium on thoe original cost of the merchnndise, on the freight, on tho duties, and then on the proflia of tho importer, tho jobbor, tho wholesnle merchant, and the rotail merchant. Taking tho value of the importations from 180G to 1875, inclusive, Mr. Scoreicnzn estitnates that in theso ton yonrs tho people of this country have paid in gold premiums £3,180,- 712,159, or RG600,000,000 more than the high- et amount ever reachod by tho publio dabt. ‘T'hia is n showing that should arrest publio nttention ovorywhero, 'I'o come to Mr. Sonreicien’s plan for ro- turning to specio payments, ho holds that it is not necessary to repenl the Lognl-Tender act nor to fix any date for wholesale resump- tion, but simply to begin employing the sur- plus rovenuo and the sinking-fund, which has herotoforo been used in buying bonds to buy up greenbacks at thoir- current value, In conneetion with this plan he favors authorizing the Secretary of tho Trensury to issuo 4} per cent thirty-yonr bonds in ex- change for gald at par to the amount of $120,000,000; these bonds to Lo sold as rapidly as it becomes necessary or desirable to continno the purchase and retirement of greonbacks with the procoeds. Ilis iden is that the apprecintion of the greenbncks, snro to follow their gendual purcliase by the Gov- ernment, and the consequent improvement of tho Government credit, would render jt easy to dispose of theso bonda; and also that tho uso of the sinking-fund would so far suffica thot but nsmall portion of theso bonds would ba roquired boforo the greenbacks would be at par with gold, sud censo to be presented only for redemption, but only by those who really noeded gold, such ns importing morchants, Thus the problem, he thinks, wonld be solved, withont any forced offort at resumption. The schemo, of courso, is open to the popular ob- jection that it cannot bo ecarriod out withont n practical contraction of the curreney ; for, thongh gold would be paid out from tho 'Trensury in oxact proportion to tho actunl market value of greenbacks, tho gold would Lo sent abroad in payment of cxchanges, and wonld be hoarded at home until the green- backs should become worth parin gold. The latter would not circulate nlongside with greenbacks until tho Intter wero worth a8 much. It ia probable that this objection could be met in part by offering the induce- ments to the banks to issuo gold notes, ne proposed in Tne Tripuse of yosterday ; and, in any event, tho plan is better than the pro- posed hoarding of gold in the vaults of the United States Trensury to the amount of §400,000,000, aud to the serious disturbanco of tho business of the world, in ordor that thore may ba n sudden substitution of that amount of gold for tho same amount of greenbacks at 8 given date, which is the theory of tho TResumption act o8 it now stands, and a very absurd and vicions theory it is, and one that should ba changed. The Now Orlosus Bullelin states ihat two Qaels occurred thero rocently; but it “did not soex to investigate the matter,” becauso ‘1t fs not our provincs to push our inqulcies into pri- vate affaira,” The typical Soutborn gentleman {a hable at any moment to slaughtor two or throo nogrocs for the fun of the thing, or to Iynch Northernor because hia offocts are packed in & carpot-bag iustoad of & truuk; and, on account of euch trifling manifestations of exuberant spor- tivenoss, somo cold-blooded peoplo have found fault with tho charactor of the gontleman afore- gaid ; but theso rovilers must stand confounded before such an oxhibition of truo dolicscy as ia pressoted by the Crescent City jourual, & papor conducted on principlos of the very highest Southorn tone. The *“honah™of the chivalry ia too ancrod & thing to be allowed to como in contact with anything ploboian, If ono gon- tloman, from & scnse of *‘Lonah,"” blows out nnothor gontleman’s bralos, that is no concorn of tho vulger hord, snd thefr low coriosity as to tho doings of thelr betters muost romnin ungratifiod. T'o bo sure, 8 nowspapor 8 goverally supposed to be in existonce for the purposo of giviug tho nows of the day, including oven such minor jtems as the shooting of one idiot by noother; but this goneral supposition daos nak hiold good In rogard to prpors in the South, niost of which devoto the greator portion of thoir upaco to the exposi- tion of *fundamental principlos, eah,"—calmly igooring noarly all occurrences of contemporary intorest. In short, Boutborn journalism, liko Bouthorn politics, is, as the Ion. Bardwell Siote would remark, b. ¢, a.—behind tho age—"by a Iarge majority.” The oxtraordinary reduction of over £3,000,~ 000 ordored in tho Fortificatlons bill meots with the hearty spprobation of tho New York Times Ttesyn s **Wa shall bo abls to turn out ongines of war with ll needful celerity whon (ho occa- elon arisos," . OBITUARY, THE NEV. JOUN WILSON, D, D, Tho New York Independent snnounces the doath, at Bombay, Des. 1, 1875, of the Rev, Joux Witsox, D. D., tho eminont mission- ary, whoso missionary lifo baa beon within three yoars of half a contury, aud prints soms inter- esting facts concerning hia carcar. Ho was privileged to baptizo tho fizst converls from among tho Parsis, and the (wo mou whom he Laptized in 1830 foltowod his body to the grave. Ho weut to Tndla a8 & missionary of the Church of Beotland yesrs bofore the.disruption, and when that occurred ha {dentifled bimself with thie Froe Church. Ho was ot ono timo Prosident of the Bombay branch of the Royal Asiatic Bo- cioty, and was also Vice-Chaucollor of tbs Uni- vorsity of Bombay. OFf his literary labors, tho Independent pays 3 s exposure of Ilindulsm as beon tranelated fnto saveral lauguages of Indla. Ife pubsishied a « Refutas tion of Mobammedanism " au & book un the * Helig- fonof the Faraie.t Thus his polemical writings at- tacked tho thres principal religious syatoms pruvailing in Bombsy. o sl published o * Liistary of tha Hock of the Mahiarajati " aud o work ut tha * Heligious Excavations of Western India.) Other (itles are S Iny 'hree Thousand Yoirs Ago,” **1nfanticide in Indis," % The Lands of the Dible,"' Memotrs of Mrs, MARGARET WILSON,'" Ilis laleat work was an ox. haustivo troatiso on © Caste.” It was not complofod at the timo of his el (ough portions of it wero ready for tho press some yesrs siuce, Ho was the author of & number of tracts in differant’ languoges. For many yeara hio editod tho Oriental Christian Spectator, a mouthly magszine, originally atarted by American infsalonaries, * QTR DEATHS, Pierrc-Anmanp, Baron Bzqyien, whoss death wes aunounced by cable a dey ar two sgo, wes boru in Moutpelior n 1803, and was appointed a Councillor of the Cour-Royalo in 1830, but at tha death of hia father, in 1848, applied himsel? to sclentiflo pursuits, Among his works are ono on “Htesm Apparatus® and anothoron *Im-« provement in Hiesm Navigation,” besidos nu- merous papers on photography and applied ecl- ence ganerslly. ‘The deaths aro alsc announced of ¥err Franz WarLyee, s comedian und propristor of tho Wallner Theatre in Borlln; of Bramisx Mus- pock, & celebrated Nova Beotia lawyer and tho historidn of that province; of WiLrtau HoLsToN, aclor, who played eccentrio characters at Wal- lack's and tho Olympio (New York) in 1864 of BamozL Guizrsox, & well known financial and statistical writer iu Drooklyv, who had been con- nected with tho Now York pross over thirty yeara; of ex-Mayor Honack Oranx, of Middle- town, Conn., one of the oldest printers in tho United Btates, having lesrned his trado with Tuvscow WeED; of Wirtran B, Cavavacl, a well known Southern comedian and manager ; of E. E. Lutacuinzyy, tho Jast of the participants -in tho conspiracy againat the Ozar Nivuoras on his accasnlon to tha throne in 18353 and of Aty Joseri Onunci, s prominont and weslthy cltizeg of Martford, Conn., father of Fnmoraick 1 Ouuncu, tho artist. —_—— PERBONAL George Eliot will probably raceive £25,000 8¢ hor share of the profits from the firat odition of her new novol. Tho brotherhood of La Grande Chartroun rontized £B0,000 & yoar from the salo of tho fa. mous Clhastrouss liquor, In tho Connecticat Buniay-schoola thoy ‘iny * Thore'll be no Patton thers ™ with pocnliae vindictivoness—just e If any writer of Hunday. ;xihno‘ doggoral could tell wint Heavon would ba 0. Whon a man in Btratford, Conn,, 100 yoa ago namod bis son Thomas Gage, ho was not mailo clork of s committee, but mobbed by 17 womon. He *{urned backthe hauds,” and named his son over agaln. Tho Rov. M. J, Bavagoe, of the Church of the Unity in Doston, formarly of Clicago, is doliy. oring & sorios of sormons on **The Roligion of Evolution,” which are publishod weokly in th Commaonuwealth, No, 25 Bromfiold stroot, The relatives of Hanry Olapp, * the King ot Bohiomis," havo objected to the inscription on the monument which tho literary friends of tha decoasod proposed to erect; and the fond hag beon redistributed among the givers in New Yorlk. The ramor that Gen. Schonck is coming home to run for Congresn in the Fourth Congrossionsal Dietrict of Ohlo provokes a amils of incredulity in quarters whoro tho Goneral 18 best known, 1Ie nover pat his hoad into the llon'a jaws in all his lifo, The report that Mr. Louis J, Jounings is ts rotita from the oditorial mansgoment of the Now York Times has boon denled, but i seoms to have somo fonndstion in fact. Itisnot do- nied that Alr, Jonnings thinks of a Europesn tour in June. “The provaiiing forcs in the 3oody and Banlkoy meetiogs,"” eays the New York Sun, ‘s tho singivg of Drother Sankey." Mr. Moody shonld learn to aing. The Chicago Munieal Col. lego I8 always open (SBundays excopted), and its terma aro reasonablo. . The purchaser of Powers’ statue of ** Paradise Loat,” at tho aalo of Mr, N. D, Morgsu's colleos tlon, was Mr, A, T. Btowart. AMr. Stewart also bought tho ** Madoana 'Enfant ot Ja Madoline,” atiributed to Tittan, which was offored at the salo ot the ‘‘upsot” price of $3,000, * Kit Carson’s gravo {8 in & coyote patch, undor the shade of a couplo of cottouwoods on the Ar- kansas in Southsrn Colorado, **without even s plekot fenco to protect the grave, or a shingle to mark it.” Why should tho veracious chronicler mourn tho absonce of o shiugle? Osn fame rest upon eo-slender & foundation? *¢ No acat, no fare," {a the watchword of the bour in New York and Boston. PForhaps it will bo o watchword hero wihon tho Logistature moota. Whero ia tho Wabash Avenue Lesgue ? If tho now rulo bo adopted, we shall iear in the future more fraquontly than in the past tho frm, rofusal : * No, thank you ; I prefor to stand.” Mr. Blles Whittaker, Troasuror of Hooley's Thentre, s to take = bonofit Tuesday nfternoon of noxt woel, Fob, 22, Aatho day js s national holiday, Mr. Whittaker is protty well assurod of a full houso and & comfortable balance in the box-office. o deserves a eubstantial token of pubtie favar, having haan unremitting in his at~ tontions during tho opors-genson, before, and sioge, Mr. A. P. Burbanl, the olooutioniat and public reader, has Liad an unoxpected measure of auo- cosa in tho Eaat. In New York City alone ho read to ten paying audiencos, Last Friday uftor~ noon lio read in Stelnway Hall to an sseemblage of ovor 25,000 people, snd in tho eveoiog to an andience of 1,200 in Chiclkoring Hall. Hohas postponed his return to Chicago from March I to April 1, Dr. Brown, tho Jewish Babbi, Istely lost & vae ligo containing » Jarge number of valuable loo. tures, through the carolessnoss of the vropriotora of tho 8t. Clalr Houso, in Tarre Hauto, Ind. He has sued for §15,000, claiming that, in con- soquenco of advanced ago and {ropalred oyesight, it will bo jmpossible for bim to ropiace the locturen. A gratofal people should subscribe the monsy, . A snlad corrospondont at Washington writes that Mra. Dristow 18 “simply exquisite every ‘way, never a bit haughty, but genially gracefal. + - » WeroInman, Ishould onvy the Bocres tary the right to bask in such radiance. This ien’t gushiog. I know Mrs. Bristow, and T love her.” Estimating this lottor on a salad basis, we should say it was worth at loant three invisations, and two dishes of jce-cream to an [nvitation. Winslow, the Boston forger, came of & bad family. He was intimatoly conneated with & gang of counterfeltors who made their ho quartera near;Barre, N. H, Two brothers and a pister wore engagoed in the businoss, and two other sisters married countorfeiters. Ooc of his brothers committod suicide to escape a long term in the Penitentiary, and ono brother-in-law was hangod for murdor, Anather brother passed balf lis life in prison. Randall Gibson, of New Orloans, & member of Congross and Boutherner of the bluest blood, refuscd tousa his influonco against tho confirma= tion of Billlngs as sticcossor to Durell, Onuon] sud Billings wero clasemates at Yale; and Qib.’ son eaid of Billings: “He's my dog, and you must got some one olee to ahoot him,” Conld, there be anything moroe touching than this oxhi-' bition af {riondehip? How sacred ara tha ties which are knit together hotween man and dog in tho hallowed precinets of Old Yale! The Bessis Turnor who is looturing in various citios of tho Union on **The Resson Why " in not, it sooms, tho origlusl Bessle Turner—tbe immortal slocpy-head, That fragrant flowor is novw sholtared from tho rude blasts of hesvea i the convaufent soctusion of a Brooklyn board| jug-bouso, It is nuderstcod that the ateady ap- plication of hash and roastod besns to har shate! torod systom haa restored ita former vitality.: Bho droopa now not more than eight hours of the twanty-four, and ia tollly oblivioris of out- ward evonts only somi-occaslonally, The base {mitator on the lecturo platform never adver-: tivod hersclf as the original, but it is evident that sho {a traveling under falss pretenses. Fubny stories are told aboat U, B, Grant, Jr, in tbe Doston papors, . Ho has beon acting aa Private Bacretary to the Prealdent. Belog late- ly sont to tho Benato with s message, he did nob think {t necessary to give his name, but re~ turnod to tho White-House after having placed the documont {n tho band of tho Clerk of the Honate. The Clerk did not know Ul Jr., and, in ordor to completa the record, he sant to the White-Ilouse for the name of the *‘boy" who bad loft the message, Tho Preaidont, itis #ald, was much vexed by the apparoat stupidity of the Olerk, The worst of it la that the Boston papor in which this nneodote appears refers ta young Mr. Grant as “home on » vacation from Cornel),” Ho id & praduate of Harvard, aod had & right to oxpeot tho Boston papers at least te bo scquainted wilh the fact, NOTEL AMMIVALS, Patnier Houss~-E. D, Baker, Oloveland; N, Barlow, aichigen § W, J, Bmith, Kansss City ; W, B, Dunlap, Xtochester, Pa. O, O, Summers, Daltimors; F.A. Whoeler, San Franciecoi J, P, Manuy, Rockford; "W, L. daly, Murquatia: i1, A, Tiarrell, Waslangiou, In. ¢ Q. W, Dickinyaa, Boston; ' J, ¥, Cramer, Mliwaukeoi A.J,'W. Thoippeon, Hastings, Minn. Buffalo i, A, Chaso, Holyoks, Mass., —J. 1. Millér, Des’ Moines; K. W, Al Oos, Xock ;™ waer! ey o . nd; r By 6t Ppaul, uiion.; 7 . F, Faroham and I, , Ganaba? 3, ame Rawling, 210.; H, A. Dix, Baeton sou 3 Hohuytor Colfaz, South Ben —Goorgo Bhifer, New York; the iion, Peoris: Gen, W, 8. Dull, Quivey; the Hon. W. A. ™, Mow York; J, D. Warren, Baffalo; the Hou, 0. B. Dadge, lows; D. 8, Clark New York; Charies Eilwcod and R. L. Dizon, Sycimore; the Hom, We . “Dradly, Kogn: Col ' . Lyoos, schangn, Betroit; 3, Ashbui Y iherman House—0ol, Den Wi Attrill, ; D, H, Hese s 1on, J. M. Southworth, oy ck§ W, O Lamilion snd L K, Hamilloa,