Chicago Daily Tribune Newspaper, August 9, 1877, Page 4

z TUE CHICAGO TRIBUNE: THURSDAY, AUGUST 9, 1877. ———— , he @ ribinre. “handa off." Until such time, they will of- fer no objection. By that time Russia, out TERMS OF SUBSCRIPTION. Inia: tes. 100, DA Ce anid Ther ealn will 80 | $s Srredeemabte, or while silver may have less back to 83 centa; add $100,000,000 more and | purchasing power than gold. Afterthe sllverdol the valne will ran down to 70 cents; another | lar ts restored to Its old place as a tegal-tonder, $#100,000,000 increase nnd it will fall to 55 ft millexdiite is gold Aoinrunl tink twocome conte; and so on, with each increase of issuo | te one vulue. The debtor, having the optton to tho valne will decline to 40 cents, aud even | PAY In either, wil always choose the cheaper of es e4 1, the two; and, as silver may not be as valuable to 24 cents. ‘This can ndd nothing to the ace . gs gold for rome ttine, C3 cus tual sum of money. ‘Lhe purchasing power gold for bs the? latter Canin kine Z Inte. But the use of silver as legal-tender of four dollars worth 25 cents each {fs nO | money will have a powerful tenden-y to Increase greater than that of one dollar worth 100 | its value ns compared with gold, provided cents. Pouring a gailon of wator inton jug} {t can havo {alr play and ‘come large containing a gallon of molnssen does not ly into cfreulation among the people, {ncroaso the value of the molasses ; nor will | But, It trredeemable paper he indefinitely con putting in two, four, or even six gallons of finaed asa legal-tender, {t will crowd out the water increnso the value of the whole as ‘silver, and prevent Its clrenlating. Notes : which the maker refuses to redecn on demand molasses; nor will the addition of millions of | are shared vy the brokers, and fall-Inton dis groonbacks to the number in circulation | count. Lf the Gavernment refuses to redeem inerense their power to purchaso so long as | fts notes in silver, they will beome of less each addition reduces their value, value than allyer dollars, and, of course, will _It will not do to say that it will answer to prevent the latter from circulating. Tho pay debts with, and that with cheap monoy | framers of the silver plank of the Ohlo plat debtors may pay off thelr debts, Debts did form do not seem to have thought of this. not decrenss when moncy was cheap; the} 44, Cantes A. Dawa, of the New York St griek’ bulk of the ‘debla ab Vicary cater: of | {ots ee nan one ta te Bee interest, under which so many people are | moyed in the Cabinet of the President to cata. now crushed, wero contracted when money | lish tho rule that no editor or publisher ofa was so chenp that it took $3 to buy as much | newspaper should be appointed to uny oflico ns 21 will now. ‘Bo will it always ba; infla. | under the present Administration; and this tion ia’ tho frresistiblo inducement to raah | Proposition he {s sail to have maintained with speculation nnd to wild indebtedness, ‘The Der dseclan ar He Doweeeda to. se aggregate of indebtedness will bo increnacd mark that go far as hisexperience goes “it very é- rarely happens that newspaper men are willing in the proportion of want of value of tho | to take office. Sometimes, however, tho care money. _ | may arfee in which it Is thelr duty to lay aside Hnt even supposing that debts might bo | thelr own occupations, no mattur how interest paid off, old loans taken up, and new onos ing or how profitable, in order to devote theme . mando. In such cases, the holders of tho | #¢!¥es to the service of their country in nn of- mortgages will not renew or extend loans ; ficfal sphere; and whenever one of them cao they will not rouew mortgages or loans, nor diseharge the «duttes of a public office better than any other person, it is certainty aectrats can now ouos be obtained on any contract | tat he should No appointed lo that ofc, I i unless payment be etipulated in gold. Men | is willing to take it.” Mr. Dana forgets to re- might borrow greenbavks from A to pay a | late that his further experiences in falling to debt due to B, but A will insist ona mort. | lay aside his occupations for the Coblectorship gage payable in coin. Capital is not-likely of the Port of New York Is the basis of nla bit- to be found making investments berenftor in terness against. the party that failed to recog. any ‘awful money” ave the coin of the | ™!° his ability to perforin ‘the dutles of puby country. So oven tho great relief expected Ne office better than any other person,” note from having dollars worth 25 ceuts ench withatanding his willingness to take it. would avail the debtor class but little, That Rica edi ee pest te Nee are Repparing fr a v1 i ry re systom hing exhausted itself and can never | mer and Tanvse, ‘Taat ‘the elty hen enoash jn recover. Labor is now suffering becauso of | Heemen.—in fact, tuo many pohicemen,—anil they the want of confidence on the part of capi- bee aati Borla “micaue to" foiluce the tal, ‘The latter prefers to romain idle than ‘The Journal has repeated this superficial, apite- to invest in an uncertain condition of af. | ful remark, in different phraseology, several faim, and labor is, unemployod. Capital | Hmes. Will that print oxplafu where the mon- now refuses to venture upon anything ex- cy Isto came from to pay the salaries and ex- copt contracts to bo paid in coin, Will paper penses of 150 or 200 extra policemen? Untll the E 5 next fiscal year begins,—Jan. 1, '73,—will the dollars of 40. conte inspire capital with con- | Journal point out the fand from whieh the ex. fidence? Will thoy ewploy labor, put mon | tra policemen can be paid? Will i state what at work, and give permanency when all | appropriatton-Item tha money can he taken is -unsoltled nnd disturbed? The schomno'| fromt Witl {t clte the chapter and section of of watering tho currency is to overwhelm tho Chartag that authorize expending more the conntry with an amount of worthless pane {oh mollecinen Hinetie aunevpralog m and the tax levied pay the sane? Can it tad orig nvllais toe ene fe olrent mg t the authority in the declaion of the Courts on ripcle os lustry ; a wreck Of | the subject of municipal expenditures and tax all prosent hopos of recovery ; a short-lived | og! Dovs tt expect the new pollcemcn to acrva delusion, to be followed by ruin nnd dosola- | for nothings or is It depending npon private tion. subscriptions tu puy them? Let the Journal put "These two schemes Try Tainune holds to | YP—the law, or shut up—Its nouecnse. be equally full of ovil and calamity. Safoty | tue Jneua Wirasame ls called upon to ex rests In rejecting both inflation aud contrac. | plain a little incident of the strike 1p bis State tion. Tha currency should not bo increased | Ilis son-in-law haa a train-load of cattle, and nor diminished by statute law. Thoro should | tuo Governor sent a special request to the mob be free coinago insilyor as well as in gold, that they permit ft to pass, which was acceded and free banking; and, with all opprossive to, and the train went through. the lines, (uo and extortionnto oxactions taken from pri- Jeems then sent an informat request to tha vato cnpital, tho business of tho country will Government for troops, which was not honored because {t was not in shape, to the Intense de- rapidly ndjnat all thodifficulties. The groou- | tight of the mob and tho greater glory of the backs, and the coin, and the banknotes | veteran log-roller. It now remains for the old. wonld all attain a common value na monoy ; | geutleman to afford the various. other Govern- specio values would bo established by the in- | ors a form of that tallamante request upon the evitablo Inws of trado tho moment tho pres. | Strikers; they all know how to call for troups. ont restriction laws on private capital aro re-} ae g recent trial before » St Lonis cuurty penled; thero will bo no contraction and no | wherein the defendant, o pedagogue, was expansion savo such as tho. business of tho | charged with walloping a pupil with a strap, country may require, which, being natural | the sagacious Court held: “The strap is not and healthy, will accomplish no derauge- | much worse than the proverbiat slipper with which (St. Loufa) mothers spank thefr enildren.”” a If the strap was “any worse,” it must have qhestion the Ohio politicians are try- | been tho sizo of that with which the Mustrious fag to Qud outis the exact meaning and in- Queen marked out the size of ancient Carthage, 2 ae Hane oe evs ae Bis of the Hopaly Riowanp Grant Write, who aticks at noth 4. ‘Thatwe aroin favor of both sliver and gota | int t¢ demonstrate the advantages of peraplar astaonoy; that both shall bea legal-tendor forthe | {t¥ and force in the employment of language, payment’ of all debts, except where otherwise offers the following Wluatration of his theories: apeclally provided by law, with colnage and vatua- | ,,7he men whom Jack Cae tella Lent Say jt will fon aoregulated tut our peoplo ahall not be placed, | 00 Bove ta ble face be hss shout ha. and oe at a dleadvantage in our trade with forelyn nations; | abominable wordy as no Christian ear con endure and that hoth inetala shail be kept !n circulation as | to hear,” talk onty of Latin noans and verbs. the money of the natlon, as contemplated by tho Pere ee Constitution; and wo therefore demand the ro- | A Journal reporter, with tho influence of his monvtization of allver, office assoctates still around him, apeaks of the Tf all tho oxtrancous matter had. been cx. | ‘ futile braius" of the Lake Bluff management. cluded, the plank would then have read: | If the gentlemen of the management are thus “4, We demand tho romonetization of uil- | incompletely roofed, we would recommend & yor.” ‘That ia all of the “ plank” which pos- | "°™ PUA TORR ast seases tho slightest practical value tb the We are assured upon competent authority public, All tho rost is clog and dend weight, | that the Jnter-Ocean ts not in thu hands of 6 Ko- or sentimontal slush, Gold is a legal-tonder | celver, as futimated in a focose paragraph to now for the payment of all debta, ond no. | Tus Triuune a few days ago; and, not wishing body proposes to disturb it as such, Noither | todo the J.-0. any harm, even In o joke, wa gold nor silver can bo kept in circulation as | stud corrected. tho monoy of tho nation, if compelled to cir- | Tt is proposed to postpone the Pennsylvania culate in competition with irredeemakle | DemucraticConvention Until after the delegates notes,, What is meant by ‘so regulating | bavo fintahed some other Hittlo business ‘not cofnago and valuation of silver and gold that | sltogether disconnected with” tho strike. our peoplo shall not be placed at arr ear disadvantage in our trade with foreign Tho police are Gritting with breech-loading nations," ix wholly inoxpllcable, What | muskets, witha slew to driliug the pale alr lt do tho Committco who roported thin —_—_ mysterious sontence want Congress to do? PERSONAL, Do they want the wolght of the gold dollar to bo reduced, or that of the allver dollar to | ‘The Cincinnat! Gazette raya that Senator bo increased? How do they propose to pre- asia’ Davie is suffering from cancer of the vent ‘our people being placed at 6 disad. | “mee vantage in our trade with foreign nations"? nielae real ie bald to be manent Silvor sells in London for so much ar ounce | ite gre i eal is 1” in gold; how is that to be prevented? Gold one. ei ae eteaicecgary will only purchase the market-price in com- | Prof, Charles Anthon loft. at his death moditios; how ia {t to bo mado to’ purchaso | nearly finished editions of Livy and of Enripides. more? Somo Amertcans mako poor bargains we Aisi a competes ey ich competent arte in eolling products and buying goods abroad, | Just ready at Harper & Brothers’, the and are thus - placed at n disadvantage "; mille pele Eberalts how Isit to be prevented, unlosa guardians Hi. Sidney Evorett, lately appointed Secre re appointed for them? The wholo rosolu- Any tothe Amerleas Leeson at Dettlte ee surviving aon of Edward Everctt. Yous tion is a curious piece of patchwork, and is o graduateof Harvard and of tha Law- only the last line of it has any business in | rence Sclentifc School, and su oxtousive traveler, tho platform. Lord Grantloy, the son of tho Ton. Mra. Common Conneil, June 30, 1874, when the anunal appropriation bill was passed, €661,000 wore appropriated for the’ build- ing of a City-Hall, the money to bo taken from the fund known as tho ‘Canal. Redemption Fond” or “City-Hnll Fund.” There in nothing to do, therefore, but to order tho commencement of the work. Tho plans have already been ,agreed upon ; an appropriation of $661,000 was made threa years ago; there aro $580,000 in tho City Treasury which cannot lawfully and propor- ly be used for any other purpose; and the needs of the city and tho interests of the workingmen alike demand that this money shall not be allowed to lio idle, but shall be tused for the purpose for which it was orig- inally sot aside, Tho excavation for tho foundation has already been made; and, by abandoning the unnecessary oxpense of driv- ing piles and substituting n solid fonfidation of large fing-stones, such ns supports the otti- or heavy buildings in the city, the workmen might bo busy before the closo of this month, and the city’s part of the Conrt- House go up simultaneously with the county part now in course of conatrnetion. . It should be so ordered without delay. sible shave, and thus their valne would be broken down to a figure wo duro scarcely contemplate. There is till one other view that we will stop to barely mention, which is thia: Ad- mitting, for tho snke of argument. that the Boor schemo would add to the use of the greenbacks to the amount of $138,000,000 per annum for duties, what per cont would that be of all tho transactions performed by the papor money in the conrse of 6 year? It is difficult to give oven an approximate estimate, Imtit is anfe to say that the use of paper currency each day by the people of the United States in all their transactions will far exceed the aggregate of the duties for a whole year. This, of course, fneludes checks and drafts. But greenbacks aud bank-notes aro actually handled, taken in ond paid out, in the course of n year, to fn amount certainly ono hundred times greater than a» year's dutics, so that, on Senator Boar's erroneous hypothesis, the greenbacks could not be enlinnced more than one-half to one cent in value, and thoy would continuo to be liable to all the other causes in existence which pro- duce violent flnctuntionsin their Yalne, There in no way to keop n nota at par with coin ox cept to redeem itin enin: on demand. As to the other fontnres in our correspondent’s compound schome, we will not stop hora to discuss them. The $100,000,000-3.65-inter- changeablo bond would simply faud thit many greenbacks, aud do it with startling rapidity. = tablishing a similar rystom in this country, mlapted to the differences in tho manage- ment of roads in America. "Tre Tamong suggested in a general way thnt ‘ the railroad coroprations, and cape- cially the large ones, might atipninte that all persons employed by them, after a certain probation, should have pormanent employ- ment during good behavior; that the wages of ntl these porsona should bo fixed by tho company after a cnrofnl and pnaticnt.con- ference of representatives of each class ; that these wages shonid have some degree of permanence, and not to bo changed oxcopt upon notice; that ne change should be made except after conference; that ont of the wages of ench person employed there should by paid, with the consent of the employed, to trustees appointed by the workmen and the company, a certain percentage, say 2} or 3 per cont, and the company should pay alike sum, the whole to ba invested, inde- pendent of the company's moneya, in trust, in United States bonds, to pay all workmen entitled to participate therein, in cases of permanent disability, or in case of death to the widow, or children, or personal ropre- sentatives, Tho snm to be paid to be pro- portioned according to the wages of the men when in service and according to the amount of the fand, all of which is a matter of de- tail easily to be adjusted.” These are the principles which underlio the Austrian sys- tom described elaowhers, On tho Austrian railroad the pension system is divided into thros parts, viz.: 1. For tho officials of the road, who number 2,128 persons; 2, A Ro- lief Fund collected from those employes who are not regarded as permanent, numbering 82,667 members; and, 3. The Pension Fund for permauont employes, which numbers 1,039 members, and has now a value of about $700,000 and anunal contributions anount- ing toahont$65,000, The Relief and Peusion Funds were established in 1860, and at the closo of 1875 the former hnd paid out near- ly $1,000,000 for physicians’ fees, medicines, hospitals, assistance furnished members dur- ing illness, donations to widows, otc., and the Pension Fund $400,000 in pensions to worn-ont employes, and the widows and orphans of deceased employes, ‘Those por mauently employed,who sustain tho Pension Fund, contribute 6 per cent of their wages, and thore temporarily omployed 2‘per cent of thoir wages, while the Company contrib. utes to both fands 27 por cent of the aggre- gate amount paid Ly tho employes, After ton years of membership, the pension is reckoned at 80 per cont of the average wagon of the last three years in caso of doath or disability, and thereafter tho amount of tho pension incroases at the rato of 3 por cont per annum, according to tho term of service, never to oxceed, howover, 75 per cent of the wages. 'Thoro is no reason why o similar system should not bo adopted by tho principal American railways. It cannot bo doubted that it would encourage @ closer alliance be- tween the companies and their employes, and that it would promote good conduct by rewarding long servico; it is certain also that the employes will do bettcr to contrib- ute thoir share tos Pension Fund than to rot aside as inuch or inore, a8 they now doin their Unions, to pny tho expensos of strikes, ‘The yucoessful working of tho pension sys- tem on the Austrian railway for soventeen years, with a noticoable effect on the conduct and condition of tho workmen and the dis- ciptine pf the road, should encouraga the ex- of breath, will be ready to mako pence, and will be gind to devote the rest of this ceu- tney to recuperstion and reorganization, It is not # very heroic motive, but nations aro T MAIL—IN ADVANCB—POSTAGE PREPAID, a Faltlon, one year. nent Faturiay Editon, rl Werkly, one year. arte of a year, per month, WREKLY EDI alarmed at the prospect of losing her front- “age on the Mississippi nnd being left high and dry a loug distanca back of the navign ble channel. ‘The construction of tho Mil- waukee & St. Paul Railroad bridge across the river at that point, and the neglect of the Company to construct oortain auxiliary dams designated as necessary by the Board of United States Engineors, has created a diversion in the channel which threatens serions consequence to the commercinl inter- esta of LaCrosse, whioso citizens are working vigorously in the matter, intending to appenl to the War Departmont to compel the Rail- road Company to supply forthwith the worka necessary to prevent the finpending damage, Specimen copies rent ree, To prevent delay and mistaken, he pure and ive Posts Ofice address in full, including State and County. * Remittances may be made either by draft, exnremy, Tort-Office order, or in registered letters, at our tink, TERNS TO CITY SUNSCRIBERS. Daily, delivered, Sunday excepted, 23 ccats per week, Datis, delivered, Sunday includ fp week. Address THE TRIR Corner Madieon and Dearbor Orders for the delivery of Tie Tat Englewood, aod Hyde Park Ieftia the eouuting-room ‘will recalye prompt attention. “AMUSI MeVicker'n Theatres _Madicon street, between State and Dearborn. * aphine.” Mesdanics Meek, aye, Price, ate.) Meare: ‘Wheelock, Mamtiton, 1 ete. Since the Inst meeting of the County Bonrd the riugsters hate lost sleep in figur- ing a way to pay Warren his 392,000 oxtraa and collect their share for tho job. Itis clnimed that two of the Ring were sick when Eoan’s estimate was allowed, and that at the next meeting a motion to reconsidor will open a way out of their present difliculties. ‘Thon again it is contended that Eoax has mado a mistake, and that he will try a fur- ther reduction that will reopen the wholo question. Tho fact is, the entire business depends upon Jndgo Fanweut's decision in the Hansa caso, to ba rendered Saturday, and which will settlo the question of oxtrns, If he beats Hanus, Warren is dod, while if ho decides in favor of Hanus, the Ring will triumph. i Hooley’s Thentres Tandotph street. between Clark and Tagalle, Ene gagcment of the Union-Square Company. '* smike." Mealames Heron, Jewett, Bylvester, cte.s Measrn O'Nell, Parseile, Jennings, ete. PAYING DUTIES WITH GREENBACKS. Wo print eleowheran communication which undertakes to point out a method where- by $00,000,000 of logal-tomdor notes can be kept at par with coin without redeeming them in coin on demaud. Tho scheme is a complex or compound one, and is uttorly in- adequate to accomplish the ond in view. The writor falls into the curious error of snp- poring that greonbacks aro not received for any kind of Government taxes, whereas they always have been a legal-tender.in payment of all Government taxes ‘and dues, except dutics on imports, This is the only excep- tion, Ashe isalawyer, Ict him look into tho United States Statutes, and he will per- ceive his mistake, Tho chief fentnro of J. I. B.'s ‘plan for making $100,000,000 of greoubacks equal in yaluo to coin, and not driving tho latter out of circulation, is to recoive one-lalf of tho Fodoral dutics in groonbacks, If this would accomplish the end, it would be exceedingly slnplo, and tho greenbacke might safely be increased to &800,000,000 and kept at par with cola by recoiving them in full payment of dutios instond of 60 por cont in Icgal tendor notes, If wo understand our corre- spondent’s iden, itis that by accepting 50 per cent of duties in greonbacks tho in- creased uso this would giva to the notes would enhance their value tonlevel with coin, and hold them there. Senator Boor, of Missouri, presented tho same schome in Congress a couple of sessions ago, and was lnnghod at by all tho political economists in that body of cithor pnrly. Io said in his apeoch ; ‘Chango the Jaw reqniring coin, aud receive greonbacka in payment of datica, By doing away with the largo demand for gold to pny dutics, amounting annually to between ¥150,000,000 and $175,000,000, and erenting o demand for precisoly alike amount of legal-tonders, the difference betwoon ths two wonld soon disappear.” 'Tho criticism Tux Trmuxe made on tho proposition at the timo was to this offect: At presont the importing merchants purchase with greenbsoks from the gold brokers the necossary amount of coin with which to pay the duties, If tho Government necopted greenbacks for duties, it would have to buy the gold from the brokers with legal-tonders, instead of the merchants doing it, and how would that reduce tho domand for gold or tend to approciate the yaluo of greonbacks ? ‘Tho omploymont given to tho greenbacks would actually be less than now, as wo olsall procoed to demonstrate, By Boor’s plan tho importing merchants would pay. greenbacks to the Government for dutics to the amount of say $13,000,000 in tho course of a year, ‘Tho Government, os fast as it received the notes, would soll them to the brokers for gold, obtaining any 94 per cont, or $123,000,- 000, whereby it would lose £8,000,000 of rovonue per annum to start with, becauso tho iuterest on the debt must bo paid in coin, nnd that takes, in round numbers, ono hun- drod millions, and the Sinking Fund requires thirty odd millions more, and the Sinking Fund is Increasing as fast as the interest on tho debt is decreasing. ‘Tho prosent way is to require tho import- ing merchants, instead of the Governmont, to soll greonbacks to the brokers for gold, and pay tho same into the Treasury for du- ties, With gold at 106, it takes 8141,000,000 of greonbacks to buy $133,000,000 of gold; thus the present plan gives a domand for the uso of $4,000,000 more greonbacks than the plan proposed by Scuator Boor or our corro- spondent, fo far, then, from his scheme fdding to tho use of greenbacks, it would diminish such use to tho extent of 28,000,- 000 per annum, and at tho sane time deprive tho Govornmont of 6 per cent of tha rovanue it now derives from dutics, thercby leaving adeficloncy of more than 38,000,000 to be made good by extra taxatlon, But there is another and very serious ob- Joction to this proposition to receive irre- deomablo notes for duties, Our papery cur- rency has o purchaslug power precluely equal to ite gold value, The importing incr- chants aro continually purchasing gold for duties at the vory lowest price in greonbacks that they can getit. They study the cold market with the utmost assiduity and solicl- tude, They use every dovisablo moans to socuro tho highest price for their greenbacks, ‘They are always “bears” on the gold mar. ket, keeping down its price, and striving to soll tholr paper monoy a3 noarly at 4ar with gold as possible, because it is their interest to renlizo the best price for it that can bo obtained. Tho more gold on the dollar of Adeipht Thenrre. Monroe treet, curner of Dearborn. ‘Tha Lencas shire Lass." Mesdames Hight, Stone, French, etc.+ Mosrs, Dillon, Blaisdell, Wells, etc. ——$————— TURKISH LETHARGY. Tho most striking characteristic of the ‘Turkish campaign thus far has been the con- spicnoue failure of the Gencrals of the army to follow up advantages. There can bo no doubt of the fighting qualities of the ‘Turk- ish soldiers, Whero they have been brought face to fa00 with tho Russians they have dis- played equal valor and dash with the Musco- vite troops, but there have not been want- ing instancos where thoir commanders have either been guilty of tronchery or havo boon demoralized unnecessarily to the vory vorge ‘of panio, as at Nikopolis and Tirnova. The principal failing, however, scoms to be a fatal spirit of lethargy after victory. There has not beon an instance in this eampnign where loading Turkish officers have followed up their advantages, Monxtan Pusha, in Armenia, completely doubled up the Russian army and defented it in the bloody battles of Zowin and Doli- baba. By prompt concentration and pur- suit ho might have driven the demoralized Russians through tho Caucasus, whore they would have suffered soverely from the ot- tacks of tho disaffected tribes, and pashed thom back, shattered and broken, to their own territory. Instond of that, ho conteated himself with tho reoccupation of Bajazid, Kars, and Ardahan, and then sat down, loay- ing tho Russians meanwhile freo to reorgan- izo, increase theirshattored ranks with levies of fresh troops, aud resuma tho offensive, with stronger probabilities of success grow. ng out of tho boneiit of experience. Whon Sunensay Pasha and Raour Pasha, south of the Balkans, defentod Gon. Govars at Eski- Lagra, nnd agnin at Kosnnlik, if they had porsistently and intolligontly followed him up, they might have crushed his corps, which was already ont off from its communications by its disnster at Plovna, but thoy failed to improve their opportunt- ties, and now Govara Is stowod away in tho passes, whero ho haa secured himself, and can safely dofy the Turks until roinforco- ments como to him, or co-operation fi the north is go cortain that he may even as- sumo the offonsive, and attack Svnerman, Pasha, Tho battle at Plovns is the mos! romarkable instance of all. When the Rus- sions so recklessly assaulted the Turks in thoir intronchmonts, one wing was repulsod and nbsolutely routed, and tho other com. plotely hold at bay. Tho Rusainns foll back ju tho utmost disordor, not only demoral- ized, but apparently panio-strickon, Thon was tho time for the Turks to havo movad. The combined forces of Osstan Pasha and Menewer Azz, flushed with victory, could have driven the Russians back beyond the Osina, inflicting torriblo losses, and novor stopping until thoy had pushed them on to the Sistova bridge ond over tho Danubo iuto Roumaonia, leaving thomselves masters of the south bank again. But they have done nothing, Whother such a prompt pur- sult would have ended in the loss of the campaign to tho Russians would have de- pended upon the ‘Turkish Gonorals; but, in any vont, it would have given tho Turks the prostige of success and immense adivan- tage of position, ond correspondingly dis- hoartoned tho Ituasians, With trao ‘furkish apathy, they ast down and smoked their chibouques, Meanwhilo tho Russinns, with remarkablo rapidity, havo taken up their old positions with fresh troops. Heinforcemants sf reserves aro hurrying ovor the Danube, Another bridge has been constructed. Alt along the lino of tho Rivers Lom ond Jautra tho country swarms with Rusalan troops threatening Rasgral, Tho ne from Sistova to Shipka is so stoutly held that there is little dangor now that the Turks can, break it, and any day wo may hear of the Kussians attacking them again with an overwhelming force. If the result is favor- able to the Russian side, there will bo no danger of apathy. ‘Tho advantage will bo followed up. Anoverwhelming lusaian vic- tory in Bulgaria, like that of tho Turks at Plevna, would placo the Russians in Constan- tinoplo before cold weather. ——— eee PENSIONING RAILROAD EMPLOYES, Bome days ago ‘Tux Tatnunz, recalling a scheme of tho late Winuramu B. Oopen for pensioning tho employes of tho Northweat- Waso-HaN Park, Twenty-third street, corner State, Championship * game between the Chicago and Clactnnat! Clubs at 3:45, Pein. = THURSDAY, AUGUST 9, 1877. CHICAGO MARKET 8SUMMABY. The Chicago produce markets were generally weak yesterday, with more doing. Mess pork closed 20@35c per bri lower, at $13.12% for Sep- tember and $1:1.00 for October, Sand ciosed 10¢ per 100 Ibe lower,at $3,024¢ for September and $8.07%4 forOctober. Meats were isc per D lower, at 43¢ for love ehouldere and OAc for do short ribs. Lake freights were activo and stcady, at 3iz¢ for com 4o Buffalo, Highwines were unchanged, at $1.08 per gallon, Flour waa dull ond weak, Wheat closed 1;G2c lower, at £1.07 for Augast and £1,014 for September. Corncloveu Xe lower, at 45%¢ for An- gustand 444yc for September, Oats closed 4@Xe Tower, at 25 for August aud S4}ic¢ for Septem> Der. ‘Kye clored tame, at Save. Rarley closed quit, at Ud!,¢ for new No, 2 seller September. c dull an] 5@ 10c lower, closing easy, at jo were more netiveand steadier, H0G5.i10, Sheep were firmer. ‘Onc hundred deliara in vold would buy $105. 1236 iu greentacks at the close. BUILD THE CIT’ iT ONCE. It is now definitely ascertnined that tho lnw warrants, and the money is ready for, tho immediate commencomont of work on the construction of the new City-Hall, In fact, tho Inw is such that sevoral hundred thousand dollars will be idlo in the City ‘Trensury unless work bo begun nt once. Undor these circumstances, it is mnnuifestly tho duty of tho Common Council, and for the best interest of the city, that the laying of tho foundation be ordered nt onco,,and tho construction be proceeded with os rapidly as possible, A resume of thevarious stops that have been takon in the matter of rebuilding the City-Hall leads squarely up to this posi. tion, Atnspecinl session of the Legislature in October, 1871, immediately succetding the Chicago fire of that year, an act was passed voling to repay to the City of Chicago tho 2,500,000 which ‘tho city had invested in the Illinois Canal, with accrued interest thereon, and such interest as should: accruo betweon tho passage of this act nud the date of payment., ‘Tho money paid over by the State under this Jaw amounts to 35,121,420, But, in passing the law, the Legislature im- posed a specific condition on the city ns to the manner in which tho fund should be ex- pended. Tho Inw provided thnt not less than one-fifth nor more than ono-third of the money should be used in the reconstraction of bridges, public buildings, and structures destroyed in tho fire, upon thoir original sites, and that tho remainder should bo applied to the payment of tho bonded debt, aud the maintenance of the Fira and Police Depart ments of the city, That ia to aay, it was stip- ‘ulated that not legs than $520,23% nor moro than $1,040,470 of the money thus appro printed should be omployed in restoring pub- Hebuildings, The larger part of theCanal Fund has’ Leon legitimately oxpendod on intercat on the Londed dobt, and on the maiutenanco of the Fire and Police Departments. Tho. sum of $17,149 was spent on the rocon- atruction of tho bridges, and 93,600 for making the excavations for the foandation of the new City-tinll, There remains $775,312 of the fund asyot unexpended, which may bo used for building the City-Hall, since thera are no other public stractures to be restored. Tho State Senate very. properly appointed o comunittea nt tho last session of tho Logiala- ture to inquire into the disposition of the fund and ascertain whether the conditions of the law had been obrervod. It ia ascertained that that portion of the Caan) Fund which was not expended in in- torcuf, police, Fire Departmont, and bridges, has beon used to pay the current expenses of the city, which ran behind partly on sccount of the Gaoz and Von Horten defalentionn, ‘bat mainly on account of the failure to collect tho taxes; the You Horzendefalcation and what Gaag sotually owes tho clty prob. ably do uot amount to more thau half a million dollars, whilo the taxes in arrears are more than three millions of dollare; the greater part of tho Gage defaleation will probably be recovered, though tho Vor Hoitzn embezzlement Is likely to bo a total loss. On account of the deficiency of rnoncy to meot current expenses, it has been the habit to uxo the moneys belonging to the special funds, with the purpose of repaying them when the taxes cnme in, On account of this confaged condition of the city Anances, the City Council about a year ago classified tho elty indebtednoss, aud required that, in the future collection of taxes, paymont should ‘be preferred aa followw: 1, All the interest on tha floating debt, the employes of tha elty for services rendered, and tho trust funds and unexpended balances of former appropriations that Lavo been misapplied 5 2, ‘Tho city certificates of indebtedness; and ¥. Such nuexpended Lalances and special funds ns may be properly doferred. “The Comptrollor Las been in the Habit of troating the Canal Fund as one of the special In Now York ‘yeatorday greonbacks wero steady at 913@95. Preparations have beon mado by Sirrme Beuw for another long and tedious campaign against the whites, He has stolon threo kegs of powder and a bag of bulletse— enough, from past experience, to hold the United States Army at bay for a year or two. a It is duo to County Commissioner Ayans to ray that ho voted for onco with the “Ring "on principle. Me has always been opposed to allowing nny extraa ot all, and licnce his vote against giving WALKER. McNair even the amount of Eaan’s estimate. ‘hero need bo no farther approhension na to tho operations of tho striking lumbor- shovers. Lieut. Vesrr, of tho police force, ns been presented with o medal for hia past brave sorvicea, and with this encouragement ho willtuke care of any future riotous ontcay- wn in his distric! TWO SCHEMES CONSIDERED, mon may bo as effectually suffocated by drowning og by banging, and while tho coun- try may bo ruined and bankrupted by a con- ttriction of the currency, it does not follow that oqual goneral disaster and distross may not be produced by an oxcessive watering of the currency, Thore are at prosent two schemes or policios advocated in this coun- try regarding tho currency, and this paper holds them to be equally pernicious and fatal to tho presont and futuro interests of the whole conntry. The firat of theso is tho schomo of tho Shylocks, This, briofly stated, is the roduc- tion of the currancy of tho country to the gmount of gold coin that can be obtained. 1B domands that the greenbacks bo redeemed fsgold coin on Jan. 1, 1879; that the Gov- tmment, haying no gold coin on hand nor tay itcan draw from, ehall sell 4 or 4} por cent bonds fa) fold sufllciont to redeem $60,000,000 A groenbacks, ‘Io outer into tho world’s marketa for gold will require that wo compete with Germany, which has been for several years struggling in vain to get gold enough to tako the placa, of allvor coin, Franco and England both Inve necd of all tho gold they can retain, and for the United States to onter tho markot to pur- chase soveral hundred millions of dollars will bo fo derango the market of the world. ‘The extraordinary demand for gold by Gor- many,who offered silvor in exchango, causod n large advance of the valuo of gold in ailver, and a like domand by tho United States for gold in exchango for bonds would soon show that 4 or 4} per cont bonds, and not evena 6 per cent bond would purchaso onongh gold at par in any part of the world to redeem the greenbacks, With this immenso increase in the value of gold, the value of all other property, especially that of real estate, must proportionately ro- code, as is now tho cave under oven the foar that such a policy will be carried into effect, ‘Tho country needs for payment of dutics $140,000,000 of gold annually; 60,000,000 additional is needod for export; and thus to redeem greonbacks and supply this demand for gold will require the sale of bonds cqual to redeeming all the groenbacks within two A strong effort has been made by tho rela- tives and friends of tho late Citizon Txssxan to prove that he was wantonly rnurdered by the police, Great stories to this effect havo been published in the various Communist papers, but yesterday at tho inquest it wor demonstrated that ‘Txsastan was one of tho leadors of the rioters, and the jury found that he waa ‘shot down in his tracks, as ho deserved. Ald, Franx Lawzen appeared in one of the Justices’ Courts yesterday as advocate Yor soma of his riotous constituents arrcated in the act of infracting tho law. Tao atten- tion of the State’s-Attornoy is called to the fact that Lawnen has nover been admitted tothe Bar, and tho penalty for practicing without a license iso fina of not less than $5 nor more than $50, or iinprisonment in tho County Jail not oxoveding thirty days, or elthor or both, It hardly needed tho lotter which Mr. W.. Tl. Kramr, of Philadelphia, has written in roference to thy componsation paid to Cann Scuvnz in 1860 for making specoles in Penn- sylvania to convince the world at large that tho former is not in sympathy with tho prea- ent Administration. The man who origin- ated the system of “ Addition, Division, and Bilence,” although an excollont authority on the subject uf the mercenary fn politica, would never be accused of favoring Civil-Servico Roferm, or of approving the Presidont’s or- der relativo to ofticcholders, Recent reports from foreign Jands indicate that the heathen aro m gvod health ond stocked with morals enough to last until the 1st of Soptember, which leaves our Christian citizens free to support the Floating-Ioxpital, which, though o homo charity, is noverthu- lcss worthy of consideration, It is proposed lo fix up next year the southern end of tho Government picr for the accommodation of sick babies, who are overcrowding tho schoonor, aud, if suitable support is receiv- ed, the movement can bo put under way at once, and the steps taken necessary to secure the permission of the Government to occupy tho pier for this noble object, a at fonds that woy bo ropald after everything | greenbacks they can gat, the fewer groon- | ern Rallrond which was never adopted, and | years. Does any one suppose the Govorn- NEW OLA — Norton, dicd In London a fow days ago, aged bn ‘The motive which urges the triple alliance elo hes becn paid, but (his policy has evi- | backs it takes to pay dutics orto buy ex. | noticing Mr, Vanprnoret’s proposition to] mentcould maintain iteclf inthis policy? In) sroyt,.goy, SuuMAN | THBPEOTOR: <b insuen ees ead aielles eerie Bins pire of England, Germany, and Austria to main- | dently beon wrong. 'The Canal Fuud is es- | change for foreign remittanco, Hence, tho | make some permancnt provision for the | the meantime, silver boing demonctized, gold arr ae . d Grain Inspector appointed by the Governor: and, toasaure her happiness, abandoned Engtsnd Gov. Crtnom to-day mada tno following tm. | forever, passing his last days in an Italian home. ortant oficial appointments: Chief Inspector of 7 H Mal at Chicago. Wittiaw He Swestrand for | Princo Bismarck bes fqr # constant com Trustees of thy Eastorn Invauc Awylui, located | panton tn bis walke # splendid Danish mastid, at Kankakee, NOU. FOUUiT or Cleags: ee presented to him by a friend in South Germanys Cee eet et counr: | Abeec appelaiimenta eyo | U1 sromlng corputenca—not, Ronever, dlaprover excellent, every oneot them. ‘The Governor coulg | Honate to his helyht—has corpelied bim to give not have done cetter. Mr. Swert, tha new Graia | ap riding. Ho wevally weary uniform, but now Inapcetor, {4 of tbe well-known Chicaxy tco fria | only appears at Court on State occasions. of Swart é Ckovent,—o3 practical business man, seo r ate aavured, will ba eulirely acceptable to | ‘The first sentenco of o dramatic article in ce bas trade, be Janis, wie the Vitereste Tue Turnume of yesterday contained two gram o es ut Gen. ri \° whose omcteuey i euerallg reeagntsedy woula bo | Maual blunders tor Witbe compotion was en chal u Mepectui 13 5 Gnsor uae decided uherwive, s ™* ™° | desvoring in this instance to surpass all bis ‘Tho new Inspector, Mr. SweTr,was a member | Previous efforts, and, it must bo admitted, D8 of the Board of ‘rade for some eighteen or | Made en eminent success, twenty years, aud has handled a good deal of Mr, Walter, tho propriotor of the London grain iu his time, and is reputed to be a good | Times, on opentag an art exhibition In Working judge thereof, He was {ndersed by a» large } bam the otber day,eald that art wos alincin which numberof prominent members of the Board'| the English were not spectally qualifed to excel- and by the Frelebt Superintendents of several of | Living wodor a gloomy sky, and baving the pbleg: the Western rallroada whlch bring large quan | ™Ate temperament, be thinks they have sii titles of grain to tbls market. ‘Hv ta sald to bo | Chines of yalning that refinement whlch ls enjoasd entirely competent for the proper discharge of ry rene’ , the dutics of the office, and it ts predicted by ue Ber De Wantwetts 134 pall his friends th: wi card, eaye: 0 insiovation ‘ayne ts i he re at he will provete be both popular ‘Veagh secured bis ils Miss Cameron, oy shee ee er ment, te daseless Action, The wedding to "4 place at the bride's fatuer's, in the preacace of the rene Beak nrciaaert ty Republican plat- ) wuole family, and no une was better pleased itd aks Becth cabeule eok diccletglatio ‘ODED | the match than Gen. Cameron Limself. Mr. Mace want both metals kept in circulation as the | yeayh is not, and never bss been, of the Camoron mouey of thenation, us coutemplated by the Con- | school of politics, but the relations between Liu stitution”? That wish ts proper avd right, but | ond bis father-in-law have always besa ourdisl i cauuot be gratified while the paper currency | the extreme." e tain ucutrality does not altogethor grow out of international propricties or the abstinence of Russia from interfering with their rights, ‘Chery is a seltish feeling behind all this, actuating cach of tho Powers. They are satisticd to bave Russia ond Tarkey grind cach cther up, and can look on complacent- ly, Englund knows that Russia will be left in dcbt even worse than France was after the German war. The tranquilizing wffect of war upon a uation is shown by the quiet at- titude Frauco bas taken during the past six years. If the debt of Lussia is doubled by this war, if her taxes are cnormously in- creased, if her cnrroncy is ran down to the lowest discount, and if she is crippled in all branches of industry, it virtually placus her under bonds to keep the peace, aud com- pels her to reduce her forces, Tur key, already bankrupt, will of ‘course find herself utterly prostrate, no matter how the war may result. So long, therefore, as Bussia does not seck to interfere with their ijuterests or aggrandize her owa, these throe Powers can lock on with tho utmost satisfac- tion at both Russians aud Turks cutting ¢ach others’ throsta, There will be no inter- ference until Russia has the Turk under and completely at her meroy, when they may ory sentially a trust fund, wince it was voted to the oity by tho State under special conditions, ‘This fund is manifestly misapplied if its moneys be used for any other purpose than that specified in the law. Having been so aulsapplied, it must properly be preferred in the first class of city obligations to be dix- charged, and the money rostored as soon os it comesinto the Treasury, Both the Comp- troller and the Corporation Counsel seemed to be convinced of this at tho session of the Bengte Committee. The Common Council algo rogurd it in this light, and at the session of the Council on July 12, last,"a resolution was passed directing the Mayor and Comp- troller to retain in the ‘Treasury such sum of the back taxes as should properly be sppor- tioned to that fund, and not ogsin misapply it or divert it from its original use, ‘There are now about $1,000,000 im the City Treasury ; and, if thatsum be divided pro ruta among the several trust funds that were formerly depleted 1 violation of law, there would bo about $160,000 to the credit of the Building Fund aud 3120,000 to the credit of the Caual Fund, all of which can be properly used only in the building of tho City-Hall. ‘There is one other puint in the mutter that iw of importance, At tho session of the valuo of our irrodcemable currency is main- tained by tho importing morchanta at the highest point it can be pushed by them. Suppose now that tho Government’ accepted greenbacks for duties, what interest would those importing merchants havo in keeping up their value? Nono at all, On the con- trary, thoir interest would bo to depreciate them to the lowest point. The less tho greonbacks were worth the less value it would take to pay duties, ‘Iho tariff exacts uo many dollars for duties, and if paper dollars were received, the more depreciated they wero the better for the importers, - If greenbacks were knocked down to 50 cents, the importers would save half the tariff tax. If it be ob- jected that they would lose on tho salo of their goods to the retail merchants, tho an- uwer is that they could do as they did during the War, charge enough for their goods in currency to cover apy probable decline inthe value of the notes until they could get the stuff out of their hands, ‘The Government would have no way to protoct itself, It would sell its greenbacks taken for duties at tho bighost bida in gold it could get, and it would be to the mutual interest of the importers aud brokers to pur- chase those grvenbacks at the greatest pow workmen on tho roada which he controls, suggested that tho railroad managers of the country devise and mature a pension system for the railroad employes, ‘This morning wa reprint an article from the Jast number of the Nation, which gives an account of the workings of such o system on an Austrian tailroad, where 1t has long been in operation under tho auspices and with the assistance of the Company, The roilroad in question is known as tho Stante-Kisenbahn-Gesell~ echaft of Austria, operates about 1,100 miles of road, bas a capital of abont $100,000,000 in gold, and employs ‘more than 81,500 persons. The Austrian wystem of caring for tho employes is much broader than would bo desirable or feasible in this country, as it includes large tenement houses and cottages which the Company rents or sells, stores for furnishing provisions and clothes, rules for advancing money to. the employes to build houses for themselves, churches, ote., etc. ‘This comprehensive echeme was necessary in order to secure workmen for the construction of the road and the running of the shops which are largely located in remote districts, It is to the pension system we direct particular at- tention, os it will serve ow the bass for em coin must be the only currency, Tha banks will not permit themselves to bo entrapped into gold redemption, and will gradually retire their notes, as thoy have already begun todo, Having excluded all other forms of currency, aud produced such a demand for gold as tu give toit a famine valuein all other property, what then? Then the Siy- locks with their mortgages will demand a payment that will be impossible, and be ina position to solza the entire property of the debtors at one-fourth or one-third its ordi- nary value, That is the scheme,—the finan- cial policy urged by the Shylocks. On the other hand, there is another schome as full of peril and of general ruin, The country is beset with a party who wants to water, that is to drown, the currency, The hobby of these people is to water the cur- rency indefinitely by the issue of moro irre- deamable legal-tendors, The currency 1s do- precisted ; pour in more and more water and make it weaker. When there were $392,- 000,000 of legal-tenders in circulation in 184}, they were worth 83 centson thedollar, T $359,000,000 in 1877 are worth $4 cae These people do not want the currency made better or brought to par; they want it mado worse, Adopt their policy; increase the