Chicago Daily Tribune Newspaper, June 28, 1877, Page 4

' Office addreas fn fall, (ncluding State snd County. { I): i ks ! lower, ab $12.00@12.02% for July and $13.02i % i I N ) ] i . \ { ! i B # 18 now most positive evidence that tha lean * and hungry majority, fresh from their Dem- i ocratic coustituencies, ralded upon thoso i \ , ottend to the strocity business—that if the * 'Turkish ships had kept out of the wey of i v i H i 1hcdecline. Cattle were qulet and lower. Eales until the October term, and probably this i will bo tho last of them, a8 it givos the mem- | eympathles of tho Sceretary. ottt ANy arms, and thoe peoplo fenrful, Gen, Howarp impression, sinco thoso samo authorities 4}, have not interfered in the raising of volun. ; teers willing to ara and equip themsolves, : tomplated strike of railroad employes in Pennsylvania renched an iuglorious ending yesterdny, thing all right, and were in rendiness {o carry - hood. ; going on Letween tho opposing forces in | to have won a moderato victory, and each . concedes the display of great bravery and 1 Secretary of tho Trensury allowed the Bonrd ;- stop to any demonstration, ' to eke out {heir Congressional stipend. e 4 THE CHICAGO TRIBUNE : THURSDAY, JUNE 28, 1877. —e e Datiy Edition, one year, r. t n yed Bpecimen coples sent free. To prevent deiny and inlstakes, be sure end give Poste Remittances may be made efther by draft, express, Poat-Ofice order, or tn regiatered letters, at our ritk, TERMS TO CITY SURSCRIBERS, Tatly, delivered, Euuday excepted, 35 centa per week. Dally, dellvered, Sunday included, 30 cents per weck. Address THE TRINUNE COMPANY, Corner Madison ard Desrborn-sta., Chicago, Il TAMUSEMENTS. Siaveriy's Thertre. RNandolph street, between Clark '0n Hand." Messrs, John Thompson, J. W. Some mers, J. 1. Mcrtong Misses Phoss McAlllster, Doty Kaglo. and LaSalle, Adetnti) Theatre, ' Monroe street, corner of Dearborn. **Uncle Tom's Cabin.”” Mr. George Kunkels Mises Amy 8lavin, Alfy Chippendate. | Exposition Bullding, Lska Ehore, foot of Adams street. Summer-Night Concert by the Thomas Orchestra. Base-1all Park, Btate and Twenty-third streets, Champlonship games between the Chicago and St. Louls Clubs. s —————— THURSDAY, JUNE 28, 1877, —_————— OM10AGO MARKET BUMMARY, The Chicazy produce merketa wero moderately active yeatorday, and provisions were weak, while grain was firm, Mess pork closed 15@17t¢ per brl @173.05 for Angust. Lard closed 16@174¢ por 100 Ihe tower, ot $8.75 cash and $8.82@8.45 for August. Meats were casler, at 42(c per B for Joose rhonlders and GXc for do short ribs. Lake frelghts were ateady, at 2c asked for ¢or to linf- falo. Highwincs were firm, at $1.08 por gallan. Flour was quiel. Wheat closed ateady, at $1.42% for July and $1.25X for August. Corn closed }e higher, at 47)5c for July and 48%4c for August. Onts closed casier, abB3bic cash and 53¢ for July. Ryewnsfirm ot 62c. Darley was nominally firmer, at B0@8Ge bid for new scllor Beptember. lings were dull and closed weak at were repurted at $2.5020.75. Sheep were nom- inal, One hupdred dollats in gold would buy $105,1244 in greenbacks ot the close. —rann Qreenbacks at the New York Stock Ex- chango yesterday closed at 054, — e Accounts of mnoro than ordinarily interest. ing comnmencement excrcises at the various soats of learning in and sbout Chicago are ‘presented in this morning's issno. Chicago whisky eases have been postponcd ‘bers of tho Ring all summer to work on the Though tl‘w excitement hins somewhat sub. alded in Idaho, tho Indlans ore atill under ton underrate the danger,—an unswarranted After portentous proparations the .con. ‘I'he sorchonds supposed overy- tho business through, but the rank and file refused to fall in, and the breoders of the disturbance aro left to their wits for a liveli. Tt i certain that somo warm work has been sin Minor, and that tho result thus far hns beou very nearly a draw. Ench side claims gallantry on the part of the enemy, The troops engaged seem to have been sbout equally matched, both ns to numbers and fighting qualiti At Inat the littlo flanncial balanco between the Centonnlal manngers and the Govern. ment has been settled and paid up, The £20,000 puid special customs officers during the opening days of the Exposition, and President Weron hended over 30,000, ! squaring the $1,500,000 which Congress voted o8 nlosn when the Centenmal mana. gors werw sudly in need of funds. Montrenl is ugitated over tho prospect of a serions row ou the 12th of July, The Orangemen aro preparing to cclobrate the auniversary of tho battle of Boyno water, " and a secret socicty hos been established by tha Irish Catholic Union to put a peremptory Arms hiave been quietly imported, and thore is avery proph- esy of a head-breaking festival if the Irish Protestants sttempt to nssert their right to parade, Firzuvon, the Doorkpeper of the Demo- cratic Ilouss, more prominently known ns tho ** biger man than old Grast,” rendered tho country a service whon he catalogued the books under charge bolonging to the Government, This samo cataloguo books to tho extent. of soveral tons' weight The Forte kas entered a complaint against Tussln on account of the destruction of four Turkish merchant vessels by Nussian tor. pedoes, glaiming this to be contrary to the rules of international law, Thoe Russian re. ply will probably be—it it is thought worth while to notice the protest of & Government which employs a forco of Bashi-Bazouks to the torpedocs thoy would still be afloat, The binds of tho Dritish Cabinet do not appear to agree in their littlo nest, Disraers, ." Lord Druy, and Bir Starroep Nonracorn strenuously sdvocate raising monoy for war + purposes, while Sawspuny, QarNasvox, sud " e Blaxvzns are determioed iu tholr advocacy of a'peacy policy, The contest is not yet ended, and its progress is watched with in. terest by all classes, though not with the ex- citemeut and apprehension that such an sgita- tion would have created two months ago. ‘The Iowa Btato ,Couvention met yester- day, nominated candidates for Governor, Licutenant-Goveraor, cte., aud adopted a series of resolutions, and sdjourned with a fecding of Learty good-will and hannony i prevailing tbut leavea no room for doubt § that Iowa will continue Ler position st the bead of the list of Ropublican States, The _plucky neighbor. seeds of diesension which had been indus- trionsly sowed for some time previous to the meeting of the Convention failed to take root to any extent resulting in a formidable growth of internal antagonism, and the atterpt to secure an expression of hoatility to the Bonthern policy of President Iaves failed of accomplishe mont. Tho majority vory scnsibly deter- mined that tho Convention was not called upon at this time to make a formal declara tion upon this subject, and contented itself svith reaflirming the cardinal -principles of Republicanism, and with making excellant nominations for State officors. It thers wore no othor causo for British intorference in the great war, an incident in the bombardment of Rustchuk has furnished o tenable ground. A misguided cannon ball, without the fear of Gop befora it, inconti- nontly smashed the residenco of the English Coneul into a strong resemblance to the cocked-hat worn by that functionary on State occasions, and every true-blooded Briton feels his goro tingle to the tips of his toes as ho contemplatea the insult. It's a Incky thing for America that ono of ita tor. nndoes hoa never blown an Englishman's um- brella insido ont. To win a bont-rsce nnd entertain a Presi- dont in the same week would scem glory enough for ono college, and Harvard rolled Iuxurionsly in the culmination of its honors yestorday, President liarzs attended the Commencement exercises, roceived tho de- greo of LL, D., and, at the banquet that fol- lowed, made a short, emotional specch to the enthusinstic colleginns. At Union Collego Mr. Geonar Wirnriax Cunmis delivered an eloquent culogium upon the President, and the institution honored itself and tho re. cipient by mnking Vice-President Wazeren a Doctor of Lawa. It ia difficult to undorstand from the con- flicting reports just what o condition of " the Montenegrin army is, and what are its prospacts for earrying on the campaign ngainst the Turkish invaders, From Turkish sources we licar of tho practical annihilation of the Montenegrin forces,whila from Cottinjo comes the assurance that the army has been concentrated in a strong position opposite Spuz and Podgoritza, and that every inch of the Turkish advance will be contested to the denth, Meanwhile a strong fecling of sym- pathy among the Bervian people has begun to monifest itself in a way that s likely to 1ead to n movement to go over and help their According to the Calcutta corrzspondonts of the Loxdon Z7'imes, the ralsing of the standard of the Prophot has not credted any particular stiramongthe Indiau Mussulmans, They talk o good deal about the wrongs of Turkoy, nud thelr press denounces Russia with becoming bitterness, but their sympa- thy dees not take any practical shape boyond occasionally sending small suma of money to Constantinople. Ono correspondent saya: *Tho massos are profoundly ignorant or in- different, but tho leading members of the community take a deep interest in tho Russo- Turkish struggle,—an interest whick timidity and pelty jenlousles nmong themselves pre- vent thelr oxprossing.” Our correspondent at Buoharest, describ- ing the recoption of the Czar at Ploioste, comments upon the pallor and anxious ap- pearance of the Imperial visage, which he nccepts ns indicating great mental disturb- ance. He ropresonts the Czar as porsonally strongly in favor of peaco, but urged on by the ambition of the Grand Dukes, who lnnguish for military reputations. His Majesty of Rusain might woll eye the situ. ntion with considerablo misgivings. Notthat there is n present prospect of defeat, but the atmosphera of Enrope is in n highly charged state, and tho holy war innugurated two months ago may lond to complications in which the Grand Ducal aspirations for ro. nown will be wound up uncommonly short, and the anxious Ozar laid on his back ns siok n man as e whose tarreta and minnarots are shaking like eggahells befora tho gunsof the Muscovite. ——— Mr, BurT, the Irish Home.Ruler in the British ilouse of Commons, inslsts that, if QGreat Britain will not give Ireland a loeal Parlinment, it should appoint two Cabl. net Ministers representing Iroland and pre. siding over the Irish Loeal Government Board and the Irish Commissioners of Pub. lic Works, 1lo mndo s motion to this effect, whereupon Bir Gronax Cauporiy claimed for Beotland that hier local Boards should be presided over by two responsible Ministers, The London Zimes docs pot take kindly to the suggestion, and it insista that the remedy proposed will cure no one of {he ovils complained of by the Irish. Novertholess, tho demand for two additional © Miniaters, especially charged with Irish nffairs, and presumably selected from the Irish members, is too tempting o promise of place and powor for the Irish siatesinan, Home-Ruler included, to reslst, To have each Ministry compelled as it wero to soloct two Irish members for the Oabinet, these having patronage at their disposal in Ireland, is to make the Irish in Parlisment of ntore consequonce, and that iz something which will go a large way to compensate for tho absenco of Home Rule, While demand- ing o dissolution of all control by the British Government, if that rule is to continue, Mr, Borr thinks the Irish onght to have their share of the offices, The protection of a narrow strip of water between two countries i clearly shown in tho movements of the present war. The little Danube River, half a mile wide, has held the vast nrmies of Russia at bay since tho 2id of April, or over two months, and may hold them still longer, as but & mere fraction has thus far succeeded in crosuing it. But for this river tho Russians would long 880 have swept everything north of the Bal- kan Mountains, and been well on their way to Adriauople by this time. A narrow strip of water and a strong floet may make sven a cowparatively weak Power alinost invulnera. blo. 1t is next to impossible for any Power, bowever strong, to concentrate its forces, material of war, and sustenance, and cross such a strip of water either by bridge or by vessels so as to strike one decisive blow, and, i? it crosses in driblets, there is the danger of being destroyed in do- tail. The security of England rests more upon the narrow strip of waler that sepa- rates her from the Continent than upon any other circumatance. She has never been successfully invaded sinco tho eleventh cen- tury. Spain made the attempt with her Armads, and France sought fo put 8 Pretender upon ber throne, but for 800 years sho has been able to repose secure from foroign invasion. Her island has never been ravoged like the Continent. Her s0il has never been traversod by foreign srwics. Her battlefields bave omly been tho sceno of oivil atrife, Eson when the Dnteh had control of the Channel and Vax TooMe was sweoping tho sens with his broom, nll they conld do was to bombard towns. Thoy conld make no Iadding of troops. This little Channel and her pow- erfal flect are such an nbsolnte protection that sho needs no standing army like France, Germany, Russls, and the other Conllnanh.l Powers. THE QUESTION OF CONSCIERCE. Now comes n question of conscience, After baving for many weeks discussed tho question of the remonotization of silver on tho assumptions that the poople of the Weat were not honest, that they waunted cheap money in which to pay thoir debts, and that to mnke silver n legal-tonder and applicable to the payment of the public debt would bo rank dishonesty towards the public creditors, the New York Z'fmes renches the conclusion that nothing {s involved except a question of conscienco, In areoent article on the sub- ject thiat paper sayat 'The following propositions of factare not dleput- ed by anybody: The act of duly 14, 1870, provides forbonds **redeemablo In coinof the present atandard valns;" the bonds 1esued andl to be lesned £a1) under that Iaw, and expreas on thelr face that tha contract ls for coin of the standard valac on July 14, 1870, When thls nct was passedd the silver dollar was a coln In regular standing, and an une limited legal-tender, and a8 such—ita subsequent decline and the legislation about it not being fore- seen—it was covered by the act as a medinm of payment. Bo far as this the opponents of theall- ver movemont agree with its advocates; the former may oven go forther, and admit that by striet con- struction of the Isw of thelr lseue, and the facts at the dato of that law, tho new 4 per cents are **lawinlly payable In silver dollare." as the Cin- cinnatl Commercial passlonately Inslats, After making this admission, which is ad- mitting awny the whole plea of dishonestyin making silver dollars n logal-tender, it is added: *'The pnyment of tho now bondsis, as wo 8aid, n matter of conscienco, rathar of conacionco and expediency.” In other words, it is an admission that if Congress shall authorize the recoinage of silver dollars, and mako them a legal-tender, then it will be lawful, under tho contract with the public croditors, to pay the bonds in silver dollars, bnt whether to do so or not is n matter of conscience and expediency. Prior o theact of 1878 demonetizing silver, it was lawful for the Unitod States, under its contracta with the public creditors, to pay tho interest or principal of the public debt in gold coin or silver dollars, Tho American conscionco ot that time had no difficulty in deciding that, ns the silver dollar waa worth 103 conts in gold, it was oxpedient to pay the creditors in tho inferior coin; and so when the silver dollar sball agnin be coined, the American conscienco, like tha conscicnce of all other nations undey like circumstances, will direct that, where the two metals shall bo legal-tender, pnyment shall be made in the cheaper coin, if thore be any difference a¢ the timo in tho value. The way, and the only way, in which thero can bo differonces in value botween the silver and gold coins of the country is to make ano of thom n lognl-tender and excludo tho othor. Both being legal-tonder,,it is impossible to depreciato the ono, becanse ns soon mas that is dome there will be an incrensed demand® for the dopro- ciated coin 'and o reduced demand for the othor; but tho business of the country goes on undisturbed, the legal. tender being optional. The argument that the coin of the two metals will not cir- culate freely together when both are n legale tonder, 18 sufliciently answered by the fact that the Bank of Fraunce, where both motals aro a logal-tender, hind on hand onMay 31, 1877, $450,000,000 of gold and silver coin and bullion, of which $108,000,000 was in silver coln. In additionto this stock of silver in the Bank, there aro $200,000,000 of other silyer coin in circulation in France. Tho amount of gold coin' and bullion in the Bank of Franco is over $360,000,000, not~ withstanding silvor is a logal-tender, and is used in payment of all debts, public sud private. Nor has this condition of things orrested the flow of gold to Franco, For tho four months ending April 80, 1877, the imports and exports of gold and silver coin and bullion by France wera as followa: Importa. Erports, Gold bullton R, 600, D 140,000 Gold coin... ,000,000 0,025,000 Silver bullion, 2,030,000 100, 000 7,030,000 1,500,000 40,700,000 $0,003,000 onths the oxcoss of im. ports of goll and silver was 37,000,000, which excess was largely mado up of gold comn, The doublo staudard does not seem to bo driving gold out of France, though the silver coiu i a logal-tender, Though silver {8 15 per cont leas valuable than it was in 1873, tho publio conscience in France is not tronbled as to the expediency of paying dobts {u that coin. THE SITUATION IN FRANCE. Two memorable utterances have racently been made in France which throw somo 1light upon the political situation, or at least present us with a clearcr viow of tho re- spective programmes of the Miniatry and tho Left thau we lave hitherto had. One of these was o spoech made by M. Gamprrra, at Abbeville, on the 10th, and the othera declaration of Marshal MacMaxoN to a dele- gation of Legitimista at Paris on the same day. Tho telegraph has mado some allusion to the lattor, but failed to bring its most jm- portant points, Tho delogation interrogated Lim upon three points,—first, as to the com. position of the present Ministry, from which tho Legitimists have been ex- cludeds g secord, ns to the prospects of LegWimist candidates; ond, third, as to the prolongation of his power. His roply to tho first was, that he could not risk & change of the olements composing the Ministry, sceiog that it had offended none of the Powera with which Frauce is fricadly; naud to the second, that any Leogitialst can. didate having a chance of success would be openly and loyally supported by the Ad. ministration, which is as much as to say that tho Government will not throw those obsta. cles in tho way of their clection that ft will oppose to Ropublican candidates. It was the answer to the third questlon that the telograph failod to bring in its completoness, and, os this is much ore important than tho other two responses, we give it in the Proaident’s own words: . I have recelved my right to remain in office 4l 1880 from tha Assembly, aud T shall remaln, un. Jeus o contingency I shall polnt out ta you imwme- diately occurs, In 1880 we shall sce. Perhaps you will then betho frst 10 come and ask moto prolong my tenure. Till then, therefore, nothing can Lo eald; but I may tell you that the question of prolonging my oflce will nok be considered during the prorogation, and that I shall lend myself to no coup-de-umain of sny kind whatever. Let moalso tell you I shall Jend myself Lo no venturs of Im- perisl or Monarchic restoration. 1 have sourenirs, and this from the Ewpire, Just as I have sourenirs and conuections with Le- gitimlem, 1 am oo escelient terms with the Orlesus Princes, snd wish to pro- #¢rva those terms; but ¥ shall participate In noth ing favorsble to tho restoration either of tho ¥rinco luperial, o of the Cotnto de Cuaunosn, or 0f the Comtede Paws. { am till 1850 fuvested with deflnite power by the Comstitution. Jaball oxorclao that powor, according to clrcnmstances, to its fal extent; bat 1 can pledge myeolt (o no en- terprise contrary to the comatltational laws to which yon too are subject. Nor do Iask any pledge from you. It -will, perhaps, bo neceseary to de- mand a disgolation. 1f yon accord it me, 1shall nse It as well a8 poestble. 1f you refasolt, T shonld then have two farces out of {hree agafnst me, and shonld withdraw, We turn n7w tothe Ropablican programme s foreshadowed fn M. Gaxnerra's Abbeville spoech, In this nddresa ho claimed that, whenthe people ratified their Conatitution by n decisive voto, it was tantamount to a declaration that it should be loyally spplied, * and that France shonld at last have govern. ment of the country by Lthe country—that is to say, that theagents of the Repnblioshould ‘bo Rapublicans,” This theary was defied, and an nttempt was mada tosubvort it, by appenl- ing to a personal power which is not -in the Constitution. Against thisattompt at thoold coalition which overthrow Trizns, the entire Republican elemant combined and spoke the rentimont of .the majority of the people of France by voting n want of confidence. ‘With reforence to the dissolution, M. Gan- perTA sald: **If we have to go before the country, wo shall return without having lost one vote. Our patient, firm, and resolute conduct will ronder those votes more numer. ons. Iknow my country well enough to be sure I am uttering no hasty jndgment whon I say that the 863 will return ns a lesson, ns n force, as a deliverande,” The situation ia very olear fronr these two uttorances. The only contingency which might cause the withdrawal of M. Maoda. nox from the Presidency, according to his own declaration, was the refusal of tho Son- nto to consent to a dissolution of ths Cham. ber. Sinco that time tho Senato has given its consent. Thorofora M, MAoMamox is fully determined to remnin in office until the ecxpiration of his term, Tho Chambor being dissolved, the Government' goes be- fora the people in a now election. AL Gax. uEITA claims that this election will result in roturning tho presont majority withont the loss of & vote, and porhaps the majority will bo strengthened by nuniversal sufflrage. Iowever Inrgo or small the majority may be, supposo that it votes a want of confidence again, what will M. Maodanox do? Ho has deslared that he will hold on to office until 1880. Will ho have reconrso to a second prorogation? Will ho continue tho present Ministry in power in defisnco of the wiil of the people of France, o8 represonted by tho majority in the Chamber, or will he with- draw. it and substituto one in accordance with tho sentimont of the Left? Wil he, in fnot, pursue the Parlinmentary practico in all Constitutional Governments, or onco moro intorposa that porsonal power which has boon the curso of France since tho time when Lovs XIV. declared hie was tha State? Will ke then reaist impeachmont? Upon this decision resta tho question of ordor or disorder, peace or revolution. In the con- clugion of his specch M. Gasmerra uttersa note of warning which has digect reference to this issue. Ho says: *“Our country hos sufforod so much that it will undorgo this’ ong supremo sacrifico mora; but I ask that this sacrifice shall ba tholaat. When France, for the third time, has prononnced hor vor- dict, overy one will bave to bow to it, with. out exception.,” This brings the whole question Lo a sharp, clenr issue, namaly, that the Prosident, the Miuistry, Logitimists, Bourbons, Ultramontanes, every elemont ~of tho opposition, must yleld to the will of tho majority, aud acknowledge Ropnblican su. premacy under the Constitation or be re- sponsiblo for revolution. Tha game Letweon M. MacMauoxn aud M. GAxpeTTA, S0 far ps it has progressed, may ba briefly stated ss fol- lows. AL MacMaioN threatoned if he was not sustained ho would withdraw. 2. Gax- perTA blocked this move by throntening if ‘he withdrew that M, Turrns should be elect. ed. Tho Marshall, finding his mennce of no avail, now declnres that he will stay until 1880. M. Gaunerra roplies that if e stays and doee not conform to the will of the ma- jority, he shall be impoached. If he resists, then the peoplo will enforce thelr will, and M. MacMauox will disappenr in the tempest of a revolution. A NEW PACIFIC RAILROAD, The newspapers and politicians that are urging npon the consideration of Congress the granting of a subsidy to the Tox Scorr "Toxns Pacific schemo assiduously withhiold all juformation from the public as to what privato enterprise is actunlly accomplishing. We havo soveral times pointed out the energy with which the Central Pacifie poople aro pushing a Bouthern rond from the Pacifio coast enstward s o privato enterpriso, Aftor building this new rosd south from Ban Francisco to Los Angeles, thoy began ox. tending it enstward, liave nlrondy passed tho enstern boundariea of Colifornia, and promise to biave the road comploted to Tucson, not "far from the eastorn boundary of Arizona, within the presont year, Thus 1,200 miles of rond have boen constfucted by pri. vate capital while Tox Bcorr' lhas been knocking at tho doors of Con. gress, HunTiaToN, who represents the Central Pacific peopls, is not building a first-class steol railroad into the interior of Arizona, to let it torminate there in the mid. dlo of a desert. Ho has joined with Toa Beorr in asking for a subsidy ; but, it the Government refuses this, it iz ovident that he haa other plans in view for an Eastern connection. We havoe information to the effect that n junction between the now Bouthern California Railroad and the Atch- ison, Topekn & Santa Fo Railroad is in con. tomplation, and will bo made as soon as it aball become evident that a Southern Pacific Road cannot bo constructed at the expense of the Government. The Atohison, Topoka & Banta Fe Railroad Is private property, and 'wag constructed by Massachusetts capital as n business investment. Iirung from Atch- ison and Kansas City (which lies almost due ‘west from Bt. Louis) in a sonthwestern dirce- tion through tho Arkansas Valley to Pneblo, Col., and thence sonth to Trinidad. But the dosign of the Company is to crosa tho mountains in a pass near Fort Gar- land, and thence proceed almost due south {o Santa Fe, in New Mexico; the Company have tho money to carry out their design. Thero will remain only the gop betweon Tucson, the proposed terminus in Arizona of the Bouthern California Road, and Santa Fe, the terminus of the Atchison, Topeka & Santa Fo Road, to fill up, Thisis a dis- tance of about 450 miles, and two rich cor- porations that have already bailt several tlousand ‘miles of railroad will not find it diffloult to arrauge for filling up so short a gap, which will give them a now and inde- pendent route to the Pacifie. It is safe to predict that, within a reason- ably short period, there will be a new Pacific Railroad, if the Government will keop its Lauds off, which will aoswor ali the legitimate demands of the country, and largely satisfy even the secctional exactions. The arguments in favor of subsidiz. ing Tox Boorr’s Texas Pacifio scheme may be summed up ns follows: (1) That it will givo the country tho benefit of a com- potition with the present Pacific route ; (2) that its Jocation in tho South will pro- toot it from the heavy snow-falls ; (3) that the Bonth js ''entitled” to Government ‘bounty becanse the Union and Central Pa- cific Ronds wera bnilt on Government aid. Now, the Pacific Road that will bo furnished by the connection of the Sonthern California and Atchison, Topeka & Sauta Fe Railroads will answer all tha legitimate fenturea of this argument. (1) The new rond will be ns ninch of n competition with the present Pa- oifio route na Tox SBcorr's Texas Pacifio, since the Inttor has taken in HuntiNoToN and tha Central Pacifie people, who will' protect the interesta of tho present routo so far na it may be desirable fo them. (2) The road through the Arknnsas Valley, nnd thence through New Mexico and Arizonn, will bo as fally protected from the snow during the winter months as Tou Scorr'’s proposed rond through Arizona, New Mexico, nnd Toxns,—though for that matter thero has beon no serfous interruption of traflic on the Union and Central Pacific Ronds for the lnst two years, (3) Tho line of the road from Southern California to Kanssa City will be as far south ss the present de- monds of the country warrant, and more direct Bouthern connections with New Or- lenns, Vicksburg, and Memphis will bo sup- plied by private capital just 08 soon as their ‘business demands it, inatead of being built nt Qovernment oxponse before thoy are needed. The great superiority of tho schome for connecting Kansas City and 8t. Louis with Lower Californis, over that of connecting Neow Orloans and Vickaburg with the same nection of the Pacific Const, is that tho for- mer will bo nccomplished by private enter- priso and ns a business investment, for' tho completion of which it will bo necossary to constrnet only 400 or 500 milea nfter tho two connecting ronds shall have renched their present proposed ter- mini, To complote the Tox Scorr ‘Toxas-Pacific scheme, on the other hand, will roquire the constrnction of about 2,300 miles of rallrond at Government oxpenso; tho cost to the Governmont (assuming that it will iavo to pny the interest it guarantees and take the road in the end) will be not loss than $175,000,000. Laying nside every other considerntion, this difference nlone should influence Congress to rofuss determinedly any schome of subsidizing the one road, but morely hold hands off for the present whilo tho Southorn California and Atchison, To- poka & Banta Fo Ronds ars stendily ap- pronching each other. It will scarcely fall short of criminal folly for Congress to vote away any public moneys, or in any mannor incroase the bur. den upon the taxpayors of tho country, in order to sabsidizo & sccond Pacific Railrond whilo thero is one so far sdvanced and under stoady hendway, which will cortainly bo completed with private capital. Tho Intter will bo constructed economically, withn view to carning money on tho investment ; tho former would be constructed simply with a view to gobbling all of tho Govern- mént subsidy. Tho private road is, there- fore, doubly in the intereat of the people, firat, becauso it will not incroase the burdens of tho taxpayers, and, secondly, bacanse, when completed, it will bo on a basis to compete with decided advantages over the roads extravagantly bullt on Governmont funds, e ONE PER OERT AND FOUR PER OENT. No Government has o botter crodit than ours, but it is a mistake to assume, na has lately been so frequently done, that ita abili- ty to borrow at 4 per cont resnlts from an improvement in its oredit. The pecnlior condition of affairs in the loan markets of the world is the real causo of this. Prof, Boxaxy Pnice, of Oxford, rocently pub. lished in the Contemporary Revicw o striking article on the accumnulation In givilized coun- tries of lonnuble capital., ¢ Ogn Per Cent " waa the title of his paper, fohndod on the unheard-of fact that the rate of in- terest in Loudon had for twelve months averaged aa low s 1 per cont, If such a state of affairs was romnrkable in Yondon, what wonld it Lo in Now York? The telegraph informs us that this point has at last boen reached in that city, and for somo days the dnily quota- tion of monoy on oall has touched 1 per cent. ' The gradual deoline in the rates of Interest has been nccompanied, ns all Invost- ors havo noticed, with a stondy rise in the prices of first-class securities, Such Cov- ornmont bonds as have not Leen affected by the refunding operations iave grown dearer. Monnicipal socurities, untainted by any sus. piclon of illegality or ropudintion, have stendily approciated, till the 7 per cent bonda of Chicago aud Cook County are Licld at 110 and accrued interest, It is no disparagoment to Chicago to eay that this Is a figire which its bonds would be very unlikely to attain when the country was in the full tido of prosperity and the money warket was active, ' Noris it necessary to our national eredit to deny the manifest truth that it is the press. ureof idle capital on the openings for invest~ mont that glves Secretary Burusax his oppor. tunity for marketing the 4 per cont bonds, As it is, tho popular subscriptions are not expected by the moat enthusinstic >ffclals of tho Trensury Dupartment to exceed $20,000,- 000, This is all that can be disposed of in n nation that took 700,000,000 .0of a Gov- erumenit boud—tho 7-30—that, ' making the due nllowances for changed ciroumstances, was littlo or no bettor than the 4 per cents, Bavings banks were then paying G por cent. The best savings Lanks Fast and West now pay but 5 per cent, and some but 4 per cent. Theso savings deposita are taxable; the Gov- ernments ore exempt from taxation. The superlority of the Government bond is in. disputable, and there can be only one reason why immense amounts of it are not taken. It is true that capital is accumulativg nnused in the banks and trust-companics, aud that only 1 or 2 per cent can be mado by invest~ ing it in commercial paper ; that business js stagnant, industry dull, and that all good se- curities have been forced up to extravagant prices by compotition; but it is believed universally that the period is excap- tional, and that this pecullar condi- tion of financial aud commercial aof- folrs cannot last. Lesox-Bonxav and pE Laverzyz are alone in the prediction that there are to be no more good times, that gold wincs and stcam-engiucs gave the world in the lnst generation an impulse now wear- ing oway, and never to be repeatod. The country believes that ita carecr of growth is but begun; that its manufactories ave again to bo busy, its reilroad cars full, its com. merco prosperous, its farms doubled. Theso days, if we may trust at all to tho history of recoveries from provious panics, aro not far distant. ‘When they come, the banks, trust companics, savings, and private capitalists, lorge aud small, will have full employment for thoir money nt much better rates than 4 por cont, . Onoof the firat indications that this new ora has been begun will be a fall in tho price of choice securities, Governmets inclnded. They will bo sold in order that the money in them may bo invested more profitably. Those who have bought them a8 n speculation must bear this in mind, and sell while other people want to buy. — CHICAGO STREETS AND SPECIAL ASSESS. MENTS, A racent decision rendercd by the Bupreme Court of this State contalns an incilental construction of the law of special gasses- monts which may bo of material assistance in providing for the impmvement of many stroots, and parts of streots, that nre a dis- grace to the city. Under the present process of nssessment it requires nbout two years' time in Court bofore a tax for local improve- meonts can be charged up against tho abutting property, and it hins beon held by tha city Iaw authorities that the improvements cannot be actunlly mnde until the assesament ia collect~ ed and the monoey is in hand. As a conse. quence, the only paving and repaving of streots of lato years has beon by the volun. tary nction of the property.owners; even in theso cnsos stroets have been irregularly paved, some of the property-owners re- fusing to join in the expenso, Thus, in the cnse of Wabash avenne, there fascarce. 1y a block botween Madison and Twenty-sec- ond streats where thero ars not one or more unpaved spncesof twonty-five, fifty, or 100 fect, rendering the streot almost as uncom. fortable as if tho wholo of it had remained unpaved. The process of spocial assessments is 8o tedious that the pavement alongtharest of the atroet wonld be almost worn ont be- fora tho money could be collacted as a tax to improve those patohes whers the property- owners have refused o pave voluntarily. In a special assessment onse in Hydoe Park, whero o tax was resisted for Inying n water- pipo, it was objected, among other things, thint the improvement hind been done before the nssossment was made, The Buprome Conrt hna now sustained this sssessment, and held that it is proper to make an assess. mont for work already done in good faith by the corporate authority, or under its @i. rection, in naticipation of the specinl assess. ment. Unlesa wo misconstruo the menning of this decision, the City Council may pasa an ordinance for tho ropaving of those parts of Wabnsh avenne which the property-own. ors have refused to repave, proceed to do the work oither by sadvancing the money or guarantecing payment to the contractors, and then collect it from tha obstinate prop. orty-owners by the regular procesa of spocial assossmont, If we aro right in this, there should bo no further delay in putting Wabnsh avenue into n passable condition by paving the places all along the street that are now filled up with broken stone, brickbats, gar- bage, oto., which the city dumps there in the vain effort to keep them on a lovel with tho remainder of tho strcet. Undor this con- struction, the city might also proceced to repave every other prominont thoronghfare which needs repaving badly, by advancing tho pfonoy or arranging with the contractors to wait for their pay il the monoy can bo collected by specinl asscssment. It may not bo wise to undertake this in tho present con. dition of city finances; but on any strect whore a large mojority of tho property- owners volunteer their proportion of the cost in money, the city need no longer hesi- tato to advance the money for the paving of ong-oighth or one-tenth of it, if this money can be lawfully collected from the delin. quents subsequently, + For years, Dr. LAVALLETTE, of New York, has devated himeclt untinngly to the study of hy- drophobla, and the results of his Investizations, as given fn the New York Sunm, will rellevo henceforth all fears of the dread malady. Ho discovers that ** hydrophobla Is not the result of a specific polson, but of a molecular change brought about In the sputa of the dog by an ab- normal nervous condltiun; that is to say, it isa form of cucrgy zoverning the atoms, uot o sem- Inal principlo injected Into them.” Looking at 1t from o svientific percl, the Doctor says that sclence conslders * g1l organized and unorgan- izod substances as composcd of molecules,which aro governed by a dynamic no less than a statls law, They all have normal motion or vibration, which Is essentiol and fundamental, and which 1s the result of organization or conditions beyond matter ftselt. The moment you aceept this vlew, you can sec how tha foreign substance, vivratlng under a now law, may Impart its dy- namie condition to an object.” Or, to make it more apparent to wiat he calls ‘the flnlte mind," tho Doctor sums it ap: ** it s, in short, the opplication of the law of undulstion to atoms supposed to have reccived an abnormal impulse, and capable of transmitting that fm- pulse in wave scrics through certaln medla,” ‘This explanation read to any dog will readily conyince hini that it is uacless to bite people. et e The tramp nulsance haa reached such a helght fntho Eastern Btates that serious threats of Ivnching are now common in varfous localitics, and organizations ate belng formed to suppress or punish it. At Pleasantville, where Misa DexiiNa was lately attacked, the fecling agal vagabonds is very stroug, and a very small circumstance, says the New York Lribune, might result In extrajudicial violencoe which would bu lnmentable. A great inany vagabonds aresald tobe fn tho vicinity of Marlbora’, N, Y., ostensibly to engage In berry-picking; and some of these ore suspected of three several at- tempts to burn the farm-housa of N, 8. Tor riNg. 1n ono of these a child was badly burned. Two burglaries havo aleo been commitiod, and also thero has been an attempt to vialate a respectablo married woman. In the Townships ot Mitchell and Marfon, Indlana, a vigilance commlitee has been organized for the oxecution of sununary justico upon & band of desperadoes who have long been the terror of that vicinage. Tho new antl-vagabond law of Ililuols takes effect next Monday, which is none too soon. Let It be vigoroualy enforced. e —— Most of the Now York daillvs are much exclted over what they are pleased to call the eilver *‘eraze " n Oblo, meaning theroby the very gen- eral demand of both partles for the remonctization of the metal for neatly & centuty onr most accopta- ble clirculating medium; and Hresldent lHavxs i ll’equnll{weulnrml beeaura this sentiment [s sup- poscd 10 he the prevalling scatiment of his own State, Our New York coutemporarics seem 3o fore et that tho demand for the remonetization of sil- Il’cr is nnl’ cflnln’edu:n (lhllll blll' .(lh“‘fid. l‘n aver. arge majority of the people of the Weatern an: nmdlu sum."—l’n ua.):?pk’m Prea, ‘This is a modcst way of saying that the so- called *sllver crazo has seized the Keystone State as well as the Buckeye State, which 1a the fact. The Penusylvania delegation will be found voting pretty ncarly unanimously at tho ex- tra sesslon fu favor of restoring tho silyer dollar to the currency of the country. The enemles of tho silver dollar are but a handful in number. They belong geucrally to the Bhylock class of patroits who lend depreciated paperand de- mand dear gold Inpayment. The New York press, with a fow honorablo exceptions, sppear tobecompietely under the lnflucnce of $his blood- sucking class. e ———— It is not Jmpossitile that the death of Ros¥ny DavLz Owzx was hastencd by the heartless fraud perpeirated on Bim by somo Philadelphis im- postors. A thoroughly bonest, and avery cred- ulous man, Mr. Owxx was selected as a victim by some sharpers, who, kuuwiug the weluht bis indorsement would carry, seduced hlm iato & faith in a bogus **waterialization.” The uame of Katy Kixg became aa well kuown as that of CuanLxy Hoss, snd Mr. Owey, who had wit- uesacd tho manifestation, assured the world that he knew it to be gennine. B\l|n§qnent revelationa demonstrated the imposture, and the unfortunate Spiritualist's mind wavered and gave way, When restored to reason, his health wasshattered, and thus the effort of a charletan tosccure a few nickols deprived soclety of & valuable member. Apart from the labors of his pen, Mr. Owax renderad thecountry slgnal serv- fca as one of the Committee for thesupervision of certain contracts for supplics, in which it s #ald ho saverd the National Treasury some four- tcen millions of dollars, ————, Enterprise Is esacntlally a characteristic'of the ‘West, and 1noro cspecially of Clilcago, but It fs questlonablo if any corporation, of alt that have done nobly in building up Western and Chicago Sntereate, is entltled to the helt to the exclnsion of Roschill Cemetery. WIith a far-reaching nsight Into tho demandsof a great and growing peonle, thie management of the “ Silent Clty " bave perfected arrangements with the North- weatern Ratlroad for & * popular funcral-train, with hearse attachment, which they feel will commend thelr Institution to all mourners, and reliove much of the anguish the average mortal feols when approaching the final shake with his mortal coil. That the % pnpular funeral-tratn M with {ta attractlve attachment will spring tnto universal favor no reasonable man can doubt, and peoplo anxlous to inter friends In astylo becoming the merita of the deceasrd, and caleu- lated to afford satlafaction to the bereaved, will do well to call on Roschill before golng else- where. ——— Boston Is delighted over the defeat of Mrs. Livenmonre by Mayor Prince. Selzing upon the prospective visit of the President to tho Hub, the Iady, accompanied by several others, walted upon the Mayor and demanded of him that wino be excluded from the dinner to he partaken of by the Chief Exccutive. Mayor Prixce firmly but courtconaly refused to im. molate the President of the United States upon the sentimental altar erected by the sisters, and mildly insinuated his want of falth in the prop- ositlon that what was consumed at the dinner wotld tend to plunge the natfon into still greater dopths of intcmperanceand degradation, o handly thought Mr. HaTzs the man to hold up oa a frightful example of drunkenness, and frankly confeesed that hic dldn’t belicve that puraulng tho courso the Iadies lald down would bo at all efflcacious In breaking up the viclous habit of rum-guzzling. The ladies retircd dis< comfited, and tho Hubbltes relofco fn a milk- and-water sort of way over thelr defeat. SRRy S A singnlar occurrence happened a few days ago at Milwaukece during a brief Shakspearcan scason at the theatre, tho play squandered upon tho audience belog “Twellth Night.” Just at the passage, **Gos shake your cars,” the cditor of the Sentinel arose and wss moving up the alsle, evidently Intending to go out ana geta clove. The audicnce notlced this, and fancled that he had accepted the wornds of the author as a personal directlon, with which he was about to comply. A shudder of dread Inoculated the whole house, and for a moment it appeared ns 1€ a panic would ensue, but whon the editor had token a check and vanlshed throuzh the door without azitating his dreaded aurlcular append- ages n shout of rellof and rapture wont up from the vast throng. ——— The confident prediction by some of the Now York papers, like the (¥orid, that TiLOER will bo renominated In 1830, cxcltes tho wrath and disgust of many Democratic papers [n the South. For example, the Augusta (On.) Chronicle says: If Br. TiLnry is living andin cood health in 1880, he will not stand any more chance of geiting the Democratic nomination for tho Presldency thsn Moxa MonTon rtands of sccurlnz a place In Anna- 1AX'S botom. In tha lnst campaizn Mr, TiLnex's wishes wers conaitited onevery anestion thatarose, 1le was allowod (o hinve his awn way on overy oe- - casion. The party won a splendid victory, and ‘TiLnEx, by his want of moral manhood, converted it Into adefeat, He sat in hisshell,ailentor scared, while the Radicals incnbated fraud, and **Pro- fensor *' Hzwirr *'esoureled like o Lobolink be- tween the Whita Yloure and the Capitol," Tha Demogeatic party was martyrized, but TILDEN was not. Youcan't barn an leicle at the stake, We'll have & statesman in 1850, —— ‘We aro fnclined to the opinlon of our lsping friend who tells us that * Gats HastiLron " lsa “myth,” For our Newburyport correspondent, relying on common fame, says that her name Is “ApIGAIL," while auother corrospondent squarcly denios this atatement, and aflirms that her name is ** Aopr,” and adda that %she will not tako your lottora out of the Post-Offics it you address them to ‘Awstaain.’" And, be- sides, that conductor says that shu says that sho is Mz Braixe” Boweare I pérplexity, cs- peclally as we have no certainty but that our aforesaid lisping friend might have meant that “QAILY was 8 *shith,"—thint {s, an unmarried young lady, aud, after ail, Jid uot spell It with aby Quien salel —— . Faithful to it Instincts of repudiation, the Inter-Ocean says Cuantey HaM s no longer ita responsible cditor. Not long sgro it solemuly declared that Postimaster PALMER was not o stockholder, and yet FAwcetr's sult for his hard-carncd salary has dragged PALuzn to tho front as one of the heavicat owners in the sink- Ing sheet, Therols but littlo doubt that Parsen and Han dictate the articles abusing tho Ad- minlstration published In the TAleves® Organ, but, holding Important offlces under the Gov- ernment, they naturally shrink from publie confesaion of thelr Ingratitudo. e — Mrs. BCHLIEMANN, Wife of the Professor, Ins recent paper beforo the Archaological Instituto, London, gave some interesting details of the hard work prosccuted by her husband and hers self In the excavations at Myceme and Troy, ‘The lady was a sort of scction boss, command- {ng thirty workinen, and it was under her direc- tion that tho tomb at Troy and tho treasury at Mycenm were discovered, So great was her cnthusiasm that she frequently stood all day, in mud up to her knees, oblivious to hunger and intent only upon her operations. ————— ‘Warlog its shillelagh, and kicking up its heels ina transport of joy, the New York Jierald de- mands attention to {ts enterprise in belng tho only paper n the country to give the nows Sat- urday that the Russisns had crossed the Danube the day before. ‘Tnm Cnicaco TRIBUNE fur- nished the complete detatls of the crossing that very Saturday mornini, and without makingany fuss over it either. Tum TR1sUNS has facilitics beyoud the reach of the fleraid, and its war news ls sdmitted to bo the best turnished byany, ‘paper on the Amerlean Contlnent. —————— ‘There ts s mild satire on the modern system of trylng clergymen for heresy, in the charces sgalost Prof. RonsaTsoN 8yt of the Scotch Freo Church, o was guiity of expressing the biasphomous opinfon that Moses did not write all the Pentateuch, and was promptlysuspended, notwithstandiug his clain that tho leader of the Isruclites could not have furnished the sc- count of his own death and burial. o ——— ‘The New Orleans Democrat desires to remind tha New York Sunand the TiLDEX managers that * The Bouth’s vast proponderance in tho Democratic party caucus has ceased to play the part of pawns to the begearlv Now York ac- count of lame knights and headlcss klugs in the national game of chess.” L ———— Gov. Hamprox, of Bouth Carolins, spiked the * TiLpEN-DANA fraud guo prettyeflectually when ha sald the Democrats in Congress made tho Electoral Comuwissfon, and the Cominlssion baviog given its decision in favor of Hayes, It becomes the citizons of the Unlted States to accept the verdict of that body. e —————— The New York Tribuna says that Prof. 8wina has “ a pleasant homo on Lake Michigan.” It scems to think that be lives on & wharf-boat or some anchared craft on the lakes but to don'ts holives on the land. e Is ncither aquatic mor smpldblous. ———— A groat many ovil-alsposed people will as- sume that base-ball has risen from its forwer level to & standard that whil et last make It practically useful. One player at Erie, Pa., lu bis entuustastic pursuit of the health-breeding pRcment, whacked a brother plaver over tha