Chicago Daily Tribune Newspaper, August 16, 1877, Page 4

THE CHICAGO TRIBUNE: THURSDAY, AUGUST 16, 1877. Tye Tribune. TERMS OF SUBSCRIPTION, BY MAIL—IN ADVANCE—POSTAGR PREPAID. nily Faition, one sear. 812.00 Nailed to roy atdremt face weeks TOF. 1 Literary EAD Pai ty Dne copy, 125 Chub of af id 1-38 Chub of twenty. 20. Specimen coptes rent re ‘To prevent delay and mistaken, be anre and give Post- Ontce addrems In fall, Ineloding State and County, Hemittances may be made either by draft, express, * Post-OMice order, of in regiatercd letters, at our risk. TRRMS TO CITY SURSCRINENS. Daily, delivered, Kunday excepted, 25 cents per week. Datly, delivered, Sondsy included, 20 cents ver week. Adiress THE TRINUNE COMPANY, Corner Madieon and Dearborn-ste.. Chicago, Ml. Orders for the delivery of Tite Trincwe at Rvanston, Englewood, and Hyde Park left in the couating-room will receive prompt attention “AMUSEMENTS. MeVicker’n Theatre. Madivon street, between State and Dearborn. "Sere aphine.” Merdames Meck. Maye, Price, ctc.4 Messrs. Wheelock, Mamliton, Pearson, etc. Mooley’s Theatre. Randolph street, between Clark and Lasalle. gngement of the Unlon-Square Compa Mutton." Mesdames Morris. Meron, Je ‘Messrx, O'Nell, Parsclle, Stoddart, etc. Adelpht Theatre. Monrve street, corner of Dearborn, Engagement of du, "s Metropolitan Olympiad. The La nue Fi reat Lolo, ete. Afterngon and evening. THURSDAY, AUGUST 16, 1877, CHICAGO MARKET SUMMARY, ‘The Chicago produce markets were fairly active yesterday, and generally firmer. Scss pork closed Se per br) higher, at $12.87}4@12.20 for September ¢ for October, Lard ciored ateady, nt jor September or October. Meats were for loose shoulders and O'%c for do Lake freights were active and no- thanged, at 4c for corn to Buffsto. Highwines were etoady, at $1.08 per gallon. Flour was lees active. and firmer, Wheat closed S@tc higher, for Angust and 0G for September. die higher, at 44%¢¢ for August and ic for September, Onta closed S@Xe higher, 4c for Augnat and 23% for September. et) steady, at A24e, Barley closed frm, for September. Hoge were quiet and with: nportant change in valaes,—quoted at $4.0 tj 1. Cattle were unchanged, with sales of infertor te cholce at $4,00@.5,85. Sheep were firm, 1 $53. 0044.50 fur common techolce, One hun iats tn gold would buy $105.95 in green- sucks at the clase, Greenbacks at the New York Stork Ex- shango yesterday closod at 942, pei ies Sota hed + Tho Now Orleans Custom-Houso has come in for its share of investigation by a Trons- ary Commission, with the result of recom- nendations of rotrenchment ond reform in many branches of the iustitution. Down in the minca around Wilkesbarre tho strikers aro nt it again, shutting off pumps, unc iu one case leaving a pit to the mercy of o subterrancan fire, The Sheriff nnd troops havo been called out, and the shafts are under guard against further depro- dations, — ee An investigation is'to be had of the con- duct of the Patent Ofice. Tho chargos snb- mitted to Secretary Scnunz include favor- itism toward patent lawyers, misuse of tho draughting funds, tho carrying on the rolls of women who perform no gervice, and mal- administration in general. ‘Through an error mado by their attorneys, the Braidwood minera who brought suit against the mining companies for their March pay hnvS been thrown over until Oo- tober, Tho auits wero commenced by squads of the men, claiming to be copartuors, but the Court held that all the contracts were individual agreemonts, and honco the action could not lic. Separate suits will bo com- amenced ond tried next fall, but the indica tions sro that the companics will revonge themselves on thelr striking employes by appeal, in tho event of an adversv verdict, aud indefinitely postpone tho day of pay- ment, Mr. Minus, Canndia ter of the In. terior, affords an outline of tho President's policy in relation to Srrrmxa Bout, as laid down to him during his recent negotistions for yanking that savage off tho soil of the Dominion, A Commission is to bo appointed to wait upon the noblo Sloax and besecch him to return with his tribo to hia own reservation, Such agents aa Mr, Born con. eludes not to sealp will bo withdrawn and replaced by army officers. It is to be hoped that Butx will accept tho proposition about to bo laid Lefuro him, becauxo the Blackfeot, Assiniboines, and Creeks, on whose hunting. grounds he is uow encamped, aro making preparations to clean Lim out root and branch, aud he will do well by his valuablo life to heed the welcome of the grateful Aterican people, and come back to the land whers he can disport himuelf at will, without {ear of serious intorferenco, Tn another column is yp of nn organization known in Pittsburg as the “Junior Sous of '78,” composed of working. men, and formed for tho purpose of firm roe uistance to “the encroachments af capital.” Aside from tho flummery ahid clap-trap exsone finl to such uniuns, it is posstblo that the association may in tame assume dangerous proportions and a threatening position, in tho event of on up:laing similar to that of 9 few weeks ago, As usual, themore intelligent of the working class aro not active 1u sustain. ing the Order, and it is left to the ignorant and mystery and mischief loving portion of the luboringy elezaent to roll it up to what they consider it vught to be, and to obey its Lehests without question, no matter what thowe bebests may involve, Without much braing to guido it, it will probably never as- sume any very signitleant political impor- tance, thouyh ag an asylum for demagogues it will always bo ostecmed invaluable, ‘As L propose to burn all the bridges and ships behind, I shall ‘Jet the dead past bury its dead,'” remarked Uol. Joun A. Jorce, the whisky martyr, to an interviewing Tas. Uni reporter. ‘This will evoke a sigh of re. lief fm some quarters, for, when he began eperstions ‘ooking toward his release from durance, thre were quakings in Missouri, and it was confidently expected that the Colonel would stir: up some bones not heretofore fully Wu-nined by the effulgence of Gov. trumonted investigation, Bat Jorcs has cone tluded not only to bury the hatebet, but to gencrously offer his enemica the bandle-end of the waip, by entering upon the manufac- turo Of books and poetry. Henceforth he will not drop into politics even as @ friend. The wicked world, from whose stingy and wrows he hag suffered so inuch, he leaves hehind him, and, as he scales Parnassus, he ot AYypgnee upward, nor ever looks bebind. ut with of course he has views, and does bis clues Cog with the efforts ut efor owivdce oiPUt forth since he went tothe It ls thercfore'atriot still, he has no word of Mf the Preaideotr Lor tho Administration of belng sustal under which he dwelt in obscurity or the Administration under whose benign in- fluence he turns hopefully to tho task of earning a living for himself and his family. Civil-Service Reform does not strike him as forcibly, perhaps, as it ought, but with the indifference of a tired man ho turns from the contemplation of his cotintry’s ruin, and sinks himself in the flattering offera of his publishers and the prospective famo that lies henvily on the point of his pencil. Guilty or innocent, it is plain that imprisonment has done Joyce good. He has Jost tho in- fiated style that once characterized him, and his exaggerated views have been wonderfully modified by hia experience as “‘ecapegoat for the whole jubilee.” Gen. Sazarpay hns advanced views on the Indian question. Ho inclines to tho faith that the raid into Montaun is of no conse- qnenco, becatise the savages aro not looking for buffalo, and opinesthat Gov. Porras has a trick of calling for troops in order to popn- larizo himself and drag money into his baili- wick, To give Porra his way and permit him to organize, arm, and equip voluntecra would, in Snentpan's judgment, inflict an expenso on the Government of from 23,000,000 to $7,000,000, of which nota tenth part would ever be accounted for. ‘This would scarcely pay for putting down 900 Indians, whose depredations are, Snent- DAN says, aa nix, and whose murders so far in Montana are limitedto two men in the old Mormon fort. The regulars are strong enough to carry on the war, the General ‘concludes, withont the sid of volunteers, and the extent to which the war has been prolonged indicates that Suentnan correctly estimates the ability of the regular army. —_———— The Bennington Centennial celebration began yesterday with a large attendance and nn unbounded enthusiasm. The occnsion is the one-hundredth anniversary of tho battle of Bennington, fought on the 13th of Au- gust, 1777, between a column of Buoncorxe’a forcos, under the command of Licut.-Col, Baus, a German officer, on tho side of tho British, and the militia and untrained yeo- manry of Vermont, New Hampshire, and Massachusetts, fed by Gen. Jonn Starx, on the side of liberty'qnd freedom. The battle resulted in the f¥otal defent and rout of tho red-coats and their Indian allies, and took its placo among the glorious achiovemonts of the patriots of the War of the Revolution. The presence of President Haxes and o large number of distinguished vistors adds to the interest and zest with which tho New Englanders aro celebrating theanniversary of tho day which bore rich: frnits in tho struggle for American indo- pendonce, From tho interviews with membors of the Chicago Committeo of Charter Oak policy- holders, which wo print this’ morning, it will be seen that these gentlemen aro not at all frightened ot Mr. Funpen’s threats to insti- tute legal proceedings against them, but that, on the contrary, they adhere to the dawaging convictions oxpressed at tho poli- eysholdors’ meeting and embodied in tho Committeo’s report with referonce to tho Wauxtey-Warre-Furnrs-Wiaors — manago- iment, and would rather relish being made defendants in o suit brought by either of these parties for defamation of character. Mr, Funner can commence much nearor home if he feela that ho has really been slon- dered, Gen. Hawzer, of the Hartford Courant, having ‘afforded him on exceilont opportunity to seek such vindication asn libel suit can secure. Ho will find that men don’t scare any onsior the further west bo goes, and that something more definite than general donials and threats of legal procead- juga will be nocoasary to removo tho impres- sion oxisting with regard to his share iu tho management of the Charter Oak. ———- Tho Pall Malt Dudget of Inly 27 contains 8 dotailed statement of the actual strength of tho army of ‘Austro-Hungary, which pos- sesses unusual Interest, since there is a pod- sibility that it may play somo part in the course of evonts iu the Enst. Universal compulsory service was introduced into ‘Ans- trian in December, 1808, and under its opera. tions the annual. contingent of recruits for the army is fixed at 05,000 men, of which number tho western part of the Empiro fur. nishes 55,000 aud Hungary 40,000, ‘Tho in- fantry consists of. 80 regiments of six bat- talions each, amounting to an aggregate strength of 450,080 men, In an emergency “Austrin cau also place in tho field GO bat. talions of rifles, numboring 64,780 men, The cavalry consists of 41 regiments, num. bering 49,369. Tho artillery consiuta of 13 regiments for flold service, with 1,560 guns, aud 12 battalions for fortress service, num- bering 5,154 men, Including the engineers and telegraph and ambulance service, the’ total strength of tho anny, when fully mob- ilized, amounts to 24,457 officers, 761,041 men, 157,582 honies, and 1,600 field and mountain guns, ‘The Laudwekr amounts to 7,015 officers and 300,409 mon, of whom 260,212 are considered combatant troops. It is not impossible that the diuintogration of parties in the Southern States (which have practically been divided on the color. Unc) will begin even earlier than the friends of go desirable an occurrence have either oped for or expected. Tho Republicans of Misslesippl opened the way for it in that Btate by deciding not to nominate candidates for the State offices, and now tho rnmor that 6x-Gov, Baown will ran as an independent eandidate promises the proper improvement of the opportunity, Ex-Gov, Brown is a repreacntative of tho conservative elemont of Southern Democracy, and has little active sympathy with the ultra, firo-eating, secession Democrats who ore now incontrol of tho State, We iso man whom the Republicans of Mississippl can falrly voto for as against the extromists and irrecoucilables; if he should run, there is littl doubt that ho would attract many Conservatives like him. self to his support, and, if elected by a com. bination of Democratic and Republican votes, it is eafe to say that the color-line would be obliterated from the politica of Mississippi for all time. But, even if ho should uof be elected, hie rnuning would alone make a breach that would eventually Jead to wuccess. The ignorance of the editor of the Obicago Times on all financist questions is only sur. passed by his egotistical protonsions, He absolutely knows nothing about the subject, and allows avy assumptive ozs who writes for his colurnns to impose on bis credulity, ‘Take this extract as a recent example: “*Conservative" makes another polut which Js particularly deserving of mention. ‘Tux Tatsuxe has discovered that the banks aro rotiring their notes because of excessive national taxation, which it asserts to be cquivalent to tico per cent on thelr circulation. **Conservatlye" disposes of tho aus wertion reapectiog tho 2-perovat tex a9 follows: he i ~ og Sane Brae ae Popes aay 3 ber cant edch on capital aud am @¥erage depesiix. leas gaiduch portions of capital ae are fay ia Uaited Invested dt, wad oli the Natiogsl Bauke the Wuty to tea caaton elraulaiiug,” Nuw- if there wera au gireue tset the and none of thelr capital was Invested In bonds, tak would bea half peresnt on capital anda hisit Porrenton depots, fa portion of the capital (4 ine Neder {0 bonds a9 x Last of eitentatton, then That pore Hon {erellove:t of the tax on capital, andatay or 1 per cent ts mind renlation, Tae abank cf say $119, 000 alt Laveate | 12 bay ‘ curation I nth. “Te tar. tal, a 1 and hes ta pai either words, it pars lng tho elreniat {hat fa fonr-ntathe or T per c tax there fan Hatto.t In any way oF form. ‘Thi point is well taken, and it follows that the ‘+war taxes" on cireiation cannot have much to do with the retirement of bank issuer. ‘The pointin not *welltaken,” ‘* Conserva- tivo” ia what Stoney would politely call a “Har,” but what .Tne Trinusr calla mis. taken. Instead of depending on tho atate- ments of anonymons persons, the superficial editor of tho Zimes might have correctly informed himeelf by referring to the last official report of the Coniptroller of the Cur. rency, There he would have found an cx. hibit on Pago &6 of the amount of United States’ taxes collected annually from tho organization of the system iu 1863 to July 1, 1876, and also the taxes paid by them for the fiscal year ending Juno 30, 1876. We shall reproduce the figures for his enlightenmont and instruction: Pg eed National Banke in bathe 5 oni On deport ‘On capital ‘Total taxe: - 0, 221 ‘This is equivatont to 24 per cent tax on the 315,000,000 of circulation of the Nationnt Banks, What Tie Taipune said was that the Fedoral war taxes still levied on the National Banks wore equivalont to two per cent of their circulation, We named that figure becanso it could be easily recoliccted by the render; wenevor dreamed there was anybody cou- ducting a newspaper in Chicago so reckless or defectively informed as to deny it, If tho denial had been made by somo of the Know- Nothings of the St. Louis press, it would not linve excited one’s specinl wonder ; but fora Chicago editor to make such a display of barbaric ignorance produces emotions of chagrin aud mortification on account of the reputation of the press of the city. THE LABORER AND HIS HIRE. It is ona thing for the Inborerto be worthy of his hire, and another thing for the porson who dosires to be a Inborer to get hire, ‘The labor question cannot bo dismissed with o simpls appeal to the law of supply and do. mand, Yet we find one of ‘the growlers” in Tne Tarmunz of Sundsy writing on tho subject in this imperative way: ‘I will only remark that if tho Inborer is entitled to living wages, every other man who has com. moditics for sale is entitled to living prices for them, and tho all-pervading Inw of sup- ply and demand that has heretofore been supposed to bo the supreme arbiter of values is dend and gono with the exploded orrors -and theories of tho past.” —\ ‘Tho situation is eminently ono in which tho law of supply and demand mny bo left to take care of itself. Tho question doesnot concern the survival of tho low of supply and demand, but the subsistenceof one mill. ion of workingmen out of employment and suffering. Their wants cannot be satisiled with reasons, and the most porfect stato. ment of the doctrine of solfishness, which lies at tho ‘basis of political economy, cannot remove the causes of their discontent, ee Trmuxe hag maintained that mon are entitled to Hving wages, meau- ing by this term wages sufficient to support life, It was not necessary that any Sozoson should ariro to toll us that uo man is entitled to mora woges than he can get; that the labor market is regulated by tho samo rules as other markets; ond that omployers always have the right to buy at the cheapest rates and sell at the dearest, Propositions of this description are not so now that they can re- organize society, nor so wholesomothat they can keep the wolf from the door, Tho logal tights of the employer aro clearly undor- stood and appreciated; it is his moral rights and obligations that are too often neglected. Ilis material interests aro as much conserved by one clasy of considerations ns by tho other, Noemployetis required to reward fidelity of service, to relieve excoptional cases of sufforing among his servants, or to take sentimental viows in any of his business relations; but the employer who docs not do any of theso things is exceptional rather thon otherwise. iis parsimony and harshness in the long ron cost him moro than they save, So it cannot ba soid that any man, however sober nod industrious, has the right to take by force one loaf of bread. But society recog- nizes the fact that man may bo go situated as to have tho right to food; and the grand- eat acta of human benevolence havo arisen from this feoling. ‘The starving poor of Iro- Jand Lado claim on their fellow-men in America for relief; and, although it was not acinim that amounted to a right according to political economy, it way o right in moral philosophy, ‘The British Governmont recoj- -nizes a similar obligation on the part uf tho rulers towards the ruled by providing on the most magnificent scale evor seen in history for tho sufferers from the famino in India. Acts of benevolenca like theso show tliat tho soclety of civilization is not organized on tho foundation of selfishness sololy, Tho workingman does not sppeat for char- ity. He docs not ask work as a gratuity. All that he craves 3s an equitable adjustment of his wages to tho cost of living. Whon ho bayg that ho is ontitled to living wager, he means that soolety ought to provide him with the means of keeping body and soul to- gother by honest labor, in preference to sond- ing him to @ poor-house. Yet the same go- ciety which justifiesand logalizes pauperdom resents any organized effort to give employ. ment to the poor and deserving, A claim of this nature must always bu made, it is true, on moral grounds, but it is noe tho leis substantial. ‘Tho source of moral authority throughout the Christian world is the Bible, which is sufficiently oxplicit in all ita dis. cussions of the labor question,—a quostion as prolific of strife, no doubt, when the Israelites made bricks without straw os it is todloy, Ountsr sald, wheu he sent out His Apostles the firat time, that the workman was “ worthy of his meat." ‘Ipoy wero not to take scrip for their journey because they were worthy, Jacon's complaint against. Lanan was, that be had charged his wagea ten thnes for gelflsh reasons. One of tho laws laid down by Mosts was: “Thou shalt not rule over him [the bondman] with rigor," Paun wrote to the Ephesians: ‘ Aud ye inasters do the same thing to them, forbear. ing threatuning; knowing that your Master also ‘gin Heaven; nelther is there respect of persons with Him.” The Bible repeat- edly asscriy that wages should bo paid promptly,—an admonition that seems tohave been somowhat neglected by cmployers of late. ‘The way of furnishing the workmen with living wages is o question full of difficultics, and ‘Tux Taronw has considered various branches of it. It seems to ba desirable now thas the obligation should be more widely admitted. Hioanpo, Mraz, and Bas- Tiat do not satixfy the cravings of the pro- letariat. ‘Lhoy canuot feed their wives and population, manufacturers of Now England, childron with wisdom ont of tho booke, and they ought not to be asked to do so, pro- vided they aro honest in heir demands for employment, : THE SOUTHERN PENITENTIARY, ~Atthe inst reseion of tho Legistnture the sum of $200,000 was npproprinted for tho construction of a second Penitentiary in this State, to bo located in the sonthorn part of Minoia, * The chorce of tho site was by law given to the Commissioners of tha new Penitentiary, subject to the approval of the Governor, Auditor, and Attorney-General of the State, The Commissioners have select. eda site nt o remote place called Grand Tower, which may be found on the map by diligent search in tho’ southern portion of Jackaon County, in an extreme pocket of tho State, and but two counties removed from the most southerly point. Under these conditions, the following dispatch from the Btate Capital will acarcely ocoanion surprise: Conslderable objection to tho location of the Southern Penitentiary at Grand Tower ts made to- day—that the placo is entirely unsuitable, being rearcely as accessible, even to extreme Southern Minola, as Jollet. It fs urged that the land ts i+ adapted forasite, and that the Commissioners shonkt have chosen Grafton, Alton, or nome point neat St. Louis, necessity. by railzoad to Centrat Mlinols, which ts reautre to seud its convicts to the Southern Penitentiary when completed. We can scarcely imagine that tho Govern- or, Auditor, and Attorney-General can be persunded to approve this selection; it is so obviously ill-suited to the purposes for which tho now Penitentiary is intended that its ae- lection is either duo to unnccountably bad judgment or some pressure to which the Commisstonera onght not to have yielded. But, as the final responsibility for the selec- tion rests upon the Govornor, Auditor, and Attornoy-General, we scarcely think these gentl.men will care to carry the blame thnt will be visited upon them if the selection bo accopted and work commonced there. Tho primary object of providing o second Penitentiary was to reliove tho Joliet institn- tion in its present overcrowded condition. Then it is important that the now Poniten- tlary should be completed ot os early adato na possible. But, if located at Grand Tower, a remote place, ond only to be reached by rail in n. tedious and circuitous way, there will be such delays in tho transportation of material and prosecu- tion of tho work as to poatpono indefinitely the proposed relief to the Joliot prison. The samo cirenmstance will exert a decided in- fluence on the cost of construction. While only $200,000 have been appropriated, it is likely that a Ponitentiary located at a point like Grand Tower would cost that mnch over and above the total cost of the same kind of structure if located at some contral point like Alton, ‘This romoteness will also oper- ata to increase tho cost of supplies, after the institution shall have been opened, and all the Profit from the product of the convict Inbor will bo awallowed up in transportation. Moreover, tho location is in open defiance of tho’ spirit and purpose of the law pro. viding for an additional Ponitontinry, Fully one-half tho crime in Illinois is included in one-third of tho Stato, the northern portion, in which Chicago and several of the most populous Iilinois citiosarositunted, In fact, the Inw itself provides that, after the com. pletion of the Honthern Penitentiary, tho criminals from all the countics lying south of the ter of Iroquois, Ford, Livingston, Wood- ford, Peoria, Knox, Warren, and Henderson shall be committed to the now prison. Com. mon senvo and considerations of economy should suggost some central location, instond of which the placo proposed isin tho oxtrome southwestern point of the State, To trans. port prisonera thero from the northorn part of tho district by rail it is necessary to go nearly to Coiro and then back north to Grand Tower. ‘Tho fact is that, in this southern district, over 900,000 of tho Inhabitants live north of Alton and only 400,000 south of Alton, according to the cen. sua cf 1870, whilo 200,000 of thaso living south of Alton are nearer to Alton by rail than to Grand Tower, Thus cleven-thir- teenths of the entiro population of tho dia- trict for which tho Penitentiary is intended will nd Alton moro central than any point tuat could be selected south of Alton, while Grand Towor, the location which has been recommended, is only mora acccasible to two-thirteenths, or n small fraction of the Alton is obviously the bost location that can bo choson, if the choico is confined to river towns, on which, we be- lieve, the Commissioners are united, Atal ovents, It is clearly theduty of tho Governor, Auditor, and Attorney-General to reject tha recommendation of Grand ‘Tower, OUR FOREIGN TRADE AND DEBT. Wo yesterday printed somo extracts from Prof, Oatnnea’ work on Political Economy, in which he, writing just before the panic of 1873, sketched the then financial condition of tho United States, pointed out the ox. traordinary reversal of oll sound laws, insisting that a change must take place, which chango woutd be attended with a crash, The reasoning of the writor is now, in the light of what lias taken placo, not ouly clear but conclusive, It will bo romembered that for. some yoors prior to and including 1860 tho United States enjoyed a commercial pros- pority which had nover been equaled; and thls prosperity was largely shared by the Tn 1857-8 the existing low tari wag reduced, the Now England Statos expecially farnishing the votos in Congress for that purpose, During thoso years the valuo of our oxports exceeded that of our imports, showing that while wo wore paylng for all we bought with exports, ‘we were algo paying our current obligations outside of trade with our own products, ‘Tho War destroyed thia prosperous condition of trade, Wo then begante create our na- tional debt, and to add to the debts of our States, During and after the War we sold our bonds, and took goods and money for them; we at the samo time undertook to pay the interest thereon. We could only poy for the goods we imported; and pay our other obligations in our exported products ; but wo had by law go increased the cost of the manufactured products that we liad uo products of that kind to export. It was not until we resumed the general prodcction of cotton that even our agricultural products recovered, Still, our cxports aro deficient, Here ore tho Sigures,—gold yaluea being givon : N70, Aba ion satd esi isa Sees 5 rs. GE, O20, UO Suz, 3 i, Giks ADO,284,100 24, 15 $00,741,100 B25, 582247 14,002) 424 7» 450,410,522 580,680,150 12,746,843 By adding the ‘“‘re-exports" to the ex- ports, the exact comparison with the imports cau be had. I¢ will be seen that, though we included an average of $50,000,000 of specie annually in our exports, the imports continued, in exceus over exports until the close of the yearending Juno 80, 1873,—tbreo months beforo the panic. We had been paying this ry 11 difference batweon the value of onr imporla and exports, and tho sum we owed to En- rope for interest, dividends, freight, our for- eign expenses, and the remittances to Amer- icans in Europe, by the shipment of bonds, national, railrond, mining, and stocks of all kinds, We were paying the interest on the previous debt by additional bords, We kept on, yeat after year, adding to our foreign debt and increasing the annual demand upon us for interest. In tho meantime we were in- curring nn incrensing debt for imports. This unnatural condition of things could have but one outcome, And while tho friends of Protection and depreciated pn- per money were proclaiming the unexampled prosperity of tho country, wo were adding abont 2200,000,000 to our foreign debt na- nally, Wo wero living ix the moat lavish way. Wewere building railroads all over the land, and borrowing the money, and then borrowing more moncy to pay the in- terest on that which wo had borrowed he. fore. What we borrowed was not employed in production, It was wasted just as an imn- provident youth wastes his inheritance as fnst as it comes to his hands. We were liv- ing riotonsly, producing nothing to sell ex- eeptour own bonds, and notes, and mort- gages. Noone can look at the compnrative statement of imports and oxports from 1869 to 1873, and remembering that that deficit did not include the payments wo had to make on the debt account, without boing surprised, not that thera was a wreck of credit, but that the wreck was postponed as as long es it was, The crash, as predicted hy Prof. Carnses, came at last. Credit was exhausted, and we who had no products to sell could no longar sell new bonds. It took some time to recover. During tho fiscal years 1874 and 1875 we mannged to balance the commercial account, but in the years 1876 and 1877 we succeeded in exporting largo surplus, During the yeur just closed we exported $160,000,000 in excess of our imports, It has been a wonder to many what be- comes of thissurplusof exports, To what nse is it applied? It is applied to the samo uson to which before the panic we applied the bonds wa sent to Europe, Then wo bal- anced our commercial and Joan account by remittance of bonds, Now wo fend mer- chandise, The tido has been turned in nu- other direction, Now our bonds aro coming back. Earope, buying in oxcoas of what sho solls to us, is sonding back to us bonds and coin, Wo aro diminishing our forvign debt and onr forciga payments to tho extont of our annual oxcess of oxports over imports, It will take some timo to do this, but trado has been restored to its natural chonnol, and the equilibrium will bo gradually rostorad, Every doltar of exports in excess of imports pays a dollar of debt and reducos the annual chargo for interoat. American aecuri- tios, which served to enable: us to maintain an unnatural conditign of trade up tothe date of tho panic, aro no longer in demand in Enrope, They havo been re. turned to this country and sold, and the pro- ceeds opplicd to the purchase of American by resolving himself into a party. ‘This is a free country, and it enunot bo injured by any number of parties. The moro the merrier, within certain limits, While wo hold firmly to the opinion that the Republican party represents all the viows that are at all na- tional in their scopo and practical in their nature, wo do nat desire to abridge tho lib- erty of any man who thinks differently. Tet overy visionary and evry hobby-ridor—from the foo of recret societies to the opponents of Chincso cheap-Iabor—havo a fair chance. ‘Wo want moro parties; they are political wafety-valves. ——— - GIBBON'S BATTLE. ‘The fight of the 7th inst. at Big Hole Pass was not, in a atrategic sonne, a defeat. ‘Tho Indians wero driven from tho field, and thoir losses were heavier than those.of Gou. Uin- non’s little command, But the victory waa exponsive, It cost twenty-five lives, and forty-two wore wounded, Ginnoy surprised the Indians, Hw made a forced march by night, and before they had time to pack thoir effects he was down npon them bay and bag- gage. Owing to the indiscrotion of 1 volun. teor, who precipitated tho attack beforo the oldiora wera prepared for it, the howitzer, on which so much dependence was placed, could not be brought into the action. ‘The Indians outnumbored the whites nearly two to one, and tho fighting was desperate. ‘Tho Indians at last drow off, but left the whites so exhausted that they could not pursne im- miedintely and take advantage of the victory, Gen. Ginnon has been charged in some of the Eastern papera with blandering, and tho Philndelphin Zimes goes so far as to compare his action with that of Gon. Custen. Thisis manifestly unfair, There is uo way to. whip tho In inns without, fighting them, and when they are fairly canght they must be attacked, even nt considerable risk, ‘Tho losses which ensue, however de- plorable, aro incidents of war, and must be ‘nccepted as such, Grnnon attacked suporior numbers, it is true, but ho had the advantage of nsurpriso, and his judgment waa shown to be good hy tha: issue of the conflict, If ho had not been doprived of hia good howitzer, he wonld have won n more signal victory. While it is casy to justify Gronon for this action, it is desirable that the lessons of recent Indian warfare shonkl bo impressed on the army. ‘Tho Indinns have within a fow years obtained full supplies of breech. loading arms, and the testimony of the offi- cors is that their nim is snrur than that of the soldiers, The timo when one white man could whip six Indiana has passed, Com- |. mon prudence dozaands that in future cam- pnigus the force of whites shoul! be superior in numbers, ns well as in every othor re- spect, to the forea of Indiana in rebollion. There is no other way of putting down tho savages without a disproportiounto loss of whitu lives, THE EX-F. ILAM-BAKE, ‘Thoro was a notable reminiscence of tho times that tried mon’s sons nt the snug how telry of Downer’s Landing, in Boston Har. bor, ou the 9th inst., when a numbor of tho products, Wo have bronght abont this ox. coss of oxports over imports by redneing tho amount of importa and increasing tho amount of exports. Under the joint opera- tion of these processes wo aro recovoring from tho consequences of the past, An essential part of this proceeding was tho reduction of prices in this country. Tho cost of production in this country was un- duly exaggerated. Our productions cost so much that their exportation was prohibited. Too large oxtent this has been remodied, but much remains to bo done. We manu- factaro exclusively for the homo market; we abandoned the larger markot of tho world, With raw material in abundance, with machinery, fuel, and labor, with traus- portation and cheap food, wo worked on half or one-third time. Tho world is open tous. People in ovory climo aro willing to buy of usif we will ovly sell to thom. Wo can produco nt as little cost as con be done in othor lands, If working on half time is snficient to supply the home market, the machinery aud Iabor can Lo employed the other half the timo In making to soll to other lands. Wo are now selling cotton goods in England, and American prints aro retailed in the shops in Manchester, Six years ago the Amorican manufacturers refused to maka cotton for ex- port; but they havo got over that, While business has adjusted itself measurably to the changed condition of affairs, the change has largely beon limited by law. Our tariff atill forbids n reduction in the cost of pro. duction. Our woolen manufacturers aro nti] protected to their loss; they are limited to thehome market. 'They nro taxed heavily on all things entering into their business. When the American manufacturers shall bo Placed on an equility with the manufacturers of all other courstries, and be free to pure chase all thew iaterial wherevor thoy can get it freo of taxation, then they may bo able to anter into competition for the trado of the world, and tho grand oggregnte of American exports bo increased, and the for- clgn trade be expanded to oll parts of tho globe. PAETIES IN Off{0. ‘The mon with honbies to rido are having fine exercise in Ohlo this fall, where four tickets and platforms have been put in the flold, and the Prohibitionists aro yet to hear from. Besiciea the regular party nomina- tions, thero ‘havo been put up before the peo- ple a‘ Workingmen's" tickot and a“ Green. backer’a ticket. Wo count on the Prohibitioniits to be true to thomselves in this emergency, and’ constitute the fifth wheel in the coach, if thoy can do no better, The inalienable vight of forming a party and making o declaration of principles is not explicitly guaranteed by the Constitution, but i¢ liew at the very basis of that noble in- strument, Every: man has this right under American institutions, and we should be sorry ta gee anybody deprived of it, Where the right oxists, there is frequently the obli- gation to exercise it; and it is far better that Persons dissatistled with existivg parties should get outside: and form new ones than it would be forthe.nto remain inside as breed- ers of mutiny azd discontent. Whoever believes in irredeezuable scrip as the panacea for avery evil, and holds it to be the first duty of the Government to provide an un- limited supply of ghinplasteru, should at once hasten to get out of tho Republican or the Democratic party and form a party of his own, Whoever desires to apportion the earnings of labor snd capital by some arbi- trary and forcible division, taking from the rich and giving to the poor, supporting the idie and the dissolute in plenty and reducing the industrious man to the er mue level as the tramp or housebresker, ought to embody hiv “+ principles ” ina platform aud have them printed. Whoever believesin siunptuary laws, by which the habits of one's nwighbors may beconformed to his own, and the moderate drinker bo slagmatized in the same woy ag the confirmed drunkard, vannot prove the sincerity of his convictions better thao old Preo-Sollera gathered there to cat clams, drink cider, aud revive ‘tho memories of those days when they made such a gallant fight against the slave-drivers in the South and thoir sympathizors in the North, and fought to overthrow both Whigs and Demo- erates by nominating but not olecting Mar- mix Van Doren for President and Cuanrzs Francis Apasts, who had tho itch for oflco thon oa now, for Vico-Prevident. Thoro wero present such representative men ‘ag Cnantes Francis Apans, Judge Hoan and his brother, Gzonaz . Frisaty, Hoan, ex-Gov. Oxariit, Fuank Binp, Exizor Watont, Wit- tam B, Sprooxzn, ox-Congresaman Tvor, Gronor O, Foos, Janes M. Busrum, Wn mand P. Puutars, the Rov. Dr, Neaxr, Anin Trtarer, and others, Like sensiblo old gentlemen, they had their clain-bake as soon as they lauded, aud drank hard cider copi- onsly enough to loosen thelr tongues, ‘Then thoy made Mr, Apass President, and Mr, Avass mado a speech, as all tho Apauses have done from time immemorinl, when tho opportanity has offered itaclf. He roferred to the fact that it waa on the 9th of August, 1818, that the. Free-Soilers hold thelr first Presidential Convention, and from this point of vantage ho fonght the old bat- tle over again, Ho roviewed tho atrifo over tho admission of Missouri which was waged from 1814 to 1821, aud which ended in tho famous Compromiso; the extension of po- litleal power gained by tho slavcholders under that Compromise; the ndmigsion of State after Stato with tho recognition of slavery; the desporato offort of the South to acquire tho vast regions of the Southwest aa anoworen forthe spread of slavery; the Prosidential campaign between Poux and Cray upon tho issue of the annexation of ‘Yexas; the quarrel and ultimate war with Mexico, which led to tho Free-8oil bolt from the Whig party and to the “organization of the new party, An extract from his spoech at thia point will be of historical interest: A fow of us, after consultation together, decided that we could not continue allont in this emorgen- ey. Thochlef dificulty wasin Anding any polltl- cal organ that would express our sontimonts ae freoly ag we desired. Just at that moment ft 6o happened that a newspaper presa which had been started in tho height of tho late election bya son of Josten T. Uucximustan, of the Gourter, well remembered by many of us here, and which bad Jost all chancu of ovtablishing itself after the loss of the olection, in pure desporation was offerod to me by the printers who controlled it, ‘The puper bore the name of the Boston IvAig, Alter some conversation respecting the details, Iwas eo for tempted by thia opportunlty offered to the knot of frlends who eympathized with me in maintatniug the ground we had taken agatnet the backsliding of our party as to call them together and Jay the matter fully before then. The result was that a mectlng was called at lobby No, 13 {n the States House, by Joun U. Paryuxr, then Secretary of tho Commonwealth, to which had been invited by Ine Sterugw C, Puscuirs, of Salom; Cuantrs Sumer, of Boston; Itexuy Witsox, of Natick. ‘These threo and Dr. Parner and myself constl- tuted the little company, After much discussion anda varicty of oplotons, it wae ultimately de- clded to accept the offer made to us and to enter upon the experlment. ‘To that end a contribution of money was to be made, - Dr. Patrurr agreed to assume the responsibility for one-Afth the sum re- quired, Mr. Purtzirs and I respectively took two- fifths, while the other two men, less favored by fortune, pledged theasclves to make up for the ditferenco in earnest and vigorous support of the undertaking, which they faithfully gave. Sach why tbe beginolog of the Republican party in the tate of Massachusetts, Atthe ond of President Voux’s Adminis- tration Gen. Oaus was put in nomination by the Democrats and Geu. Tarzoz by the Whige. The Free-Soilers could not oon- selentiously accopt either. ‘To vote for Lewis Cass would be giving ‘a sanction to the policy of the war which we abhorred; to vote for Gen. ‘Tarton would be glorifying the agent who had done so inuch to promote the results which wo held in dread.” Out of this came the Buffalo Convention for the nomination of a third candidate, not with any hope of success, but with the probability that 8 party might be organized which would some time be successful. It was soon found that the choice of candidates would be nar- rowed down to Judge McLaaw, of Ohio, and Masta Van Busey, Mr, Apaws’ preferences: being for the former, aud the forner’s prof. erences being not to ran at all. Anticipat, ing, thercfore, that Judge MeT.ran decline to ran, Mr. Apasta wrote to Mr. Vay Buaey, asking for an auawer which be might use in his favor in caso of emergency, to which Mr. Van Bonen roplied on the 2¢th c¢ July. Mr. Apaats gives his letter to the pub. lic for the first time. It poxsesacs litte jn, ferent now, except in the following extract, which, enriously enough, recallt the general character of Mr. Anas’ own letter to the Cincinnati Congention in 1872: Itcan, under exiting clreumstander, te reas necessary to ray that If any of your f that they can give mofe effect to th vey upon the main ralject by taking a conse diferent from that to which your own feelings soon foe cline), or if it would for any rearona be more agrecable to them tu du £0, thelr contnct inthe matter will not be disagreabie to mein any tense, My solicitude bay been, not to get nomlnations, but to keep clear of them, and nothing cin he dene at Buffalo that Je fousuted on good Fense and looke Ingoud faith to the advancementof the grent prime eiptes Thold sacred whict will cause me cliher ree gret or mortification. Beueath all thia ostensible indifference te the nomination was a motive, howover, t¢ which Mr, Avams docs not allude, Tn 1936 ho had been clected President. In 1810 he was defoated at tho polls by Hanntsoy, In 13t4 he was dofented.in the Convention by Pork. Again in 1848 he was defeated in the Convention by Casa. ‘Thren sucecasive do fenta hal embittered tho wily old politician, Tho nomination of Cass by- the Democrats was tho straw thal broke the camel's back, ‘The only yolitical aspiration that Vax Buary had was anything lo bent Cars at the polla, and in the Free-Soil nomination ho saw the opportunity. He accopted it and drew of enough voles from Cans in New York ard Pennsylvania to defent him: in the election, and, more than that, came near defeating 'Tayton also. ‘Mr, Apans' speech was tho sntient feainn of the Downer's Landing clam-bako. Other addresses were innde by E. It, Hoan, Gronox F, Hoan,. Amos Tuck, W. P, Prtuiips, and FW. Bin, and the following totter from the poet Wmrrten closed the proceedings like a benediction : Daxvens, Aug. 0; 1877,—Grocting to the menof ‘448. Thanks to Divine Providence, which hae enabled us tu ace the end for which we labored thirty years ago, The lave States are free. Let ue draw them closer to us by generoa» confidence and kind oltices, Joux G, Winttiza MOSES' LITTLE DESK. Tho easicat way to unearth a Democratie tascal in South Carolina is to investigate 9 Republican fraud. ‘Tho Tlanron Adininis. tration is just now engaged in this cheerfnl process, and is meeting with rofreshing suo cess, Every rotten Republican applo that has been openod has revoaled a Democratio worm snugly coiled up in its core with na trail lending straight to the surface. The Legislative Investigating Committco, in digging into tho mire of corruption, dincore erod n bonanza, They found that the bulk of the stolen Stata rovenues had gone to State Trensurers, and that. nothing went through the frensury mill which did not pay from 10 to 2h per cent toll, They fennd that an immonso sum of money frandulently passed into Mosrs’ hands during his Cor ornorahip, ond that nenrly tho whole of the floating indebtedness of tho Stato wat tainted with frauds. So far, so good. A terrible state of Republican corruption was unearthed. South Caroliua Democrats wors shocked. Northern Democrats held np their hands tn holy horror, Tho Investigating Committee, vucovraged by what they had already foand and inspired with fresh vent by the plaudits of thelr Domocratio . brethren, North and South, determined to go fothe very bottom of the corruption, and sent for Mosya. Ho caine and exprosied his willingness to tell all he know, and the Com mittee prepared to pump him dry and then hold him up as an example of Republican corruption, Prior to going upon the stand it ocourrel to Moses that whew he was on Pisgah’s height viewing the Promised Land he hada little desk or socretary iuto which ho used to put his papors, Ho hunted for his little desk, but it was gono, Upon mak ing inquiries, ho found that the little desk had been wold at anction during his absence from Columbia. He hunted up tho auction eerand found tho purchaser, who was una ware of tho treasuro-trovea concealed in tho drawer. A lockantith soon put Mosza in possession of the coveted papers, He clasped them to his bosom, and then wont to the wit noss-stand, not like a quarry slave svonrged to his dungeon, but hke one sustained aud soothed by an unfaltering trust that he linda big thing, Andhohad. He commenced his testimony, For every statemont that he inade out came a letter or a document of some sort, and down went aDomocrat, The more he talked, the greater was the Demo- cratic alayghter, A corrospondent of the Now York Sun says: ‘A distinguished Judge, hearing that he had been implicated, demanded an immediate hearing bafore the Committee, in order to clear his akirts, Ho dented emphatically the statements mado by the ex-Governor, The Uommitteo sent for Mosys, and confronted him with the Judge. ‘Governor,’ did we understand you to sy so-and-sof ‘That is what I said.’ ‘3 deny it,' said the Judge, with great empha ais, The ex-Governor put his hand in bis side pocket and drew forth a document. ‘Judge, is that your handwriting? The Judgo wilted.” ‘This is o falr samplo of the mannor in which Moar slaughtered the Democratia reformers. Al frat it was here and there an individual ; thea they went over by squads; and, when he commenced to upset them by companies, the Committee began to haul off, Moses seemed to be omnipotent, omnisciont, and omniprow ent, When the Committee accused Ke publican of accepting a bribe, Moszs, with bis little document, showed it was a Domo crat who bribed him. When the Committee charged Nopublicans with passing corrupt bills, Moszs, with his littl paper, showed that the bills were passed in the jnterests of Democrats. Wherever, whonever, or howe ever the Committee threw their boomerang at Republicans, it came back and broko & Democratic head. At last so many lesding Democratio reformers were found up « their eyes in the same corrupts with Republicans that on effort. ff now being mado to suppress the whole nit ter, and withdraw prosecutions of Repub licans upon condition of leaving the State and never squealing upon their Democrati¢ partners, There are cortain parts of the State, however, which have Imad no division of the plunder, and which will therefore oppose any compromise, It is to be hoped they may succeed, and that the investiga tion may go on until it reaches hard-pan. The sacrifice of the whole carpet-bag gang, Mosrs and all, would not be considered a serious lous if thereby a good, healthy lot of Demo cratic reformers could be dragged out of the same miro-hole of corruption. Lot us know all that Mogzs’ little desk can tell us. Now that Moszs ix willing to talk, lot bim tell his whole glory. It he stops now, with his