Chicago Daily Tribune Newspaper, August 24, 1877, Page 1

The Ehicagy Dai VOLUME XXXII FEVTSYLVANIL RAILROA NOTICE. Parties having claima for gooda des premiscs of the Pen; 1n the City of@*ittabureh, Allegheny yiranta, on July 21 Dy notiged that If theis claims are made out 1o the lollowing directions, and foriard. dersigned. they will be examined and hape and presented by counscl to the ‘of said connty without expense e clatnant, the said county bein) d goods for snc aary to Institute anit scaipat the auch st will be prosecated by counsel swithiout chaeie, npon the execution of the proper 1 for that purpoee, torm of which CHICAGO, FRIDAY, AUGUST 24, 1877. roposals for the confirmation and expansion of relatione hetween the United we sre drawn toward each other by & thousand ties tracted to induce the Canadiana 8 far as possihle nd kindred; and the oul. 10 open their canals to Americans on the rame 81 to their own peopie. States Government szreed tu do the same with're- gnrd to the State of New York and the Erle Canal. The Canadlans had carried outjthic agreement with- ontany pressure from England. but, unfortunates Iv, the New Yorkers had not been o lhoral, ‘Twenty milllons hat been expended on the Wel- Iand Canal, and the benefite resnlting from its opening had Inured more to the Western farmer than to Caneda, e commercial States and the British Provinces. diepateh from Enr] Ruesoll to St. Frederick Druce, dated Macch 20, 1845, after natica of ter- minatlon had been received. it wans eald: Majesty's Govornment are qulte willink fo recon- eider the Heclnrucity Treaty, fn conjanctton with the tiovernment of the United Staten, to negotiate nd a0 1o modify 4 terms s o stfuie, even more benefictal 1o both (,nnnlrlcl (hsn it has hitherto been. of Interest. friendahip, ponring of aur sympat| city I3 hut an cxpression of the feel for their enitre people. XOT 80, BXACTLY. Now, 1o the mombers o Trade ** whose bueines of an Engllah mercaan MERCHANTRY. 4 Third Day's Session of the . Commercial Congress at Milwaukee. f the Natfonal Doard of to quote the laugusge *tis thelr politics. not this pictore of growing daily becoming stroyed by mob fora reneiral of neylvania Raile ta and relations, ¥ , while it mizht bave accurately por- e of things exieting with more or between the yeas 1874 and 1805, m correct In §te delineations at the olicy deltherately adopted by the effect to erect harriers between onr Canadian nelzhbors and oursejves: to make ‘‘strangers and foreizners™ of them, rather than brethren; to throw them exciasively upon own - resources; and riol on the beljeved that ernment muat be informed whether tha notice Ar. Adawa, 1 terme £0 perem) 0 put an end {o the treaty, or ! leaves open the door tn negotlation. mier case, her Majesty's Governnent can only re- Rret that reiztions which, by conctiiatory commu- nications, might be rendere: An Able Report upon Our Rela- tions with the Canadian Government. ‘angrens in 1867 ha Georgian Day to Montreal would farnish another outlet for the grain and other products of the West. In spite of the abaence of reciprocity. Canada had prospered, and In the fear thatthey mignt nat oh- tain reciprocity they had songht new ontlets for thele pradacts, new markets for thele manafac. 1o the ewner of more intimate, more ‘mora heneficia] should ba broken and inierrupted by the tiovernment of the United , you will ask Mr, Sew- in the latter ¢ ard 10 inform you in ¢ ; which modificatiun of the trea 'y is desirea.* Tt would seem from the pubilabed correspond. ence that the Administeation of the time st Wash- ington was disposed 10 meet the Hritish Govern ment tn the matter in a friendly splrit, THE NRITISIH MINISTER AT WASHINGTON wrote {o the Forelgn Oflice under date of March f, **Mr, Sewarl requested me to #ay 0 your Lardahip that, with & view of mil) tore ther fnangmrating a more friendly policy with her Majesty's Gavernment, they weré as (he searon advance Tora remodelin; opportuuily of seelng what and quickeniag {nfinence of constant [ntezcoutre ™ 1f we wounld have the Canadians for friende, let un showourseives friendly to them, What the result politically of uninterrupted recie procity would have been, or of renewed reciprocity i1l be, tha Hoard docs not care o jnquire; nor Recommendation that the Ask for a Resumption of Reciprocity. &I\l be farnishe DIRECTIONS. First—The name and place of residence of the er, Whera the awner iaa firm, the full names of the individuals comparing it. Second -The bill of 1sding. ‘'hird—Copy of invoice, verifled by afidavit of ric copy of ine aame: that herein were delivered to ihe «d the bi)l of Iading, and that the purchase price of tha roods named t the trus price paid or agreed to be paid therefor. Forirtl—Afldavit of consiznee that he never re- oelved the goods, nor any part of thent. IN SOUTI AUSTRALIA AND THE WEST INDIES & trade was epringing np, sod they hoved to effect A treaty with France which wonld renove the duty on Canadian-bailt vesscls and ailow them ta go Into ship-hailding, —an indastey almost destroyed. e trasted that the action of the Board un this oc- carion woold be in the interests of reciprocity, and that the tiwo countrles, allied so closely by tics of friendahlp, eommerce, and kindred. would become year by year more enlwined, MIL GILLRSPIZ, OF TORONTO, sald at this doy it was considered the truo Interest of every civllized nation to be at pece with the world, and né thought 1t was the duty and should he the end of Its lezislators to promote every ob- Ject caleulated to mecure that condition, rure that the prevalénce of the policy referred to In the debate Wedneaday woald lead to the very npposite resmt. We knew, In studying our own Intcrests, when we desired to extend onr busincrs relations, It could be done by exiendlag that of nd the true mode wae o extend them on a frendly basis. To cut off the saympathy of other nations would eertainly not be to the {n- tercst of any country. Therefore. to extend [ts Lnsiness relatious was and ehould be the true palicy of every enlighted mation. or any other conntry shonld extat withont any re- Iations with forein countrles, it secmed to bim 1f the people ventared out of their own territory they would be regarded In the lightof that rete- brated irlsh character ‘to be seen at Donnybrook Falr: Ilewas In a Oghtiog position, and asking for somebody tn tread on the tall of his coat. ahould be felt that they had no interest in main- talning peace, it would be much more dificalt to He hoped, Inthe discussios, noth- will accomplish. have the dircuselon of the commercial uestion complicated, either In the debates of loards of Trade or in the snceches of our public men. by ihe introduction and ndmixtare of any ulitical conaiderations, 1805, a3 follows: clalmant (hutitisa the goods described No Voice Raised in Argu- ment Against the Proposition. Tle_énd to bo al- not of goverrments, but of n of the former withoat the “The uniun of the erectly willing (o enter inta negotiationn of the Reciproaity Tresty on terms which mlzht prove, he noped. advantagesus and benelicial to both parties," “Al **Tha {llncas of Mr. Keward, and the ressuse of busineas thrown upan this Goyernment 1y the Assassination of the P'resident, and the eud- den collapee of the Confederste (joternment, have made it impostible ty execute hitherto your Lord- ship's Instructions to outain a statement of the oinie In the treaty waich the United States wish make the subject of fresh negotiation, ' Later, altera circular to Collectors of Castoms had been Ixsued by the Secretary of the Tteasury, and poblished In the papers, announcing he ap- proaching termination of the treaty, 8iR FREDERICK BRUCE wrote, on the Gth of November: indorsed notification in the newspapers, I thought it adviesble to aek Mr, merely an administrative messure called for by the approaching expiration of the reciprocity, or was intended to be ndecisration of ifie Government ngainst A rencwal of the treaty, stated that he was glnd I had ssked him the ques- the import of the notlfication ile said that the tter wonld be s curan to hoth, latter efther with or withont the former might bs made to both an fncalculable bleasing, TUE FOLLOWING RESOLUTIONS, in conformity tith the foregoing statement of the facts of the case, Are hercby submitted for the ap- proval of the Honrd: 2 Itesolred, That the Prestident of the United Siates cctfully requested to cone recomnieniding Congress, In his first tonos] message, to suthorize snd provide by appropriate Jegielation for the apnolntment of a Commlesion to co-operate on thepart of the United States with a Commisslon to be “appoiniad by the Government of Great Britaln, in the negotiation of A trealy of reciprocal trade vetween the United the Duminlon of Canad: Resoleed, That the object belng the promotion of kindly feclings and niutn- ally profitabie trade between two kindred commu- nitlea living {n near proimity to each other, tho negotiations now recommended should Le cone ducted in 4 liberal apint, and with a view to secar- Ing Auch conccsslons on hoth sides ay the outret as arc generally recomnized Upon the above evidenco bein) the nnderalgned wil by obtaining an afdavit of the clerk of the com- pany Issutng the bill of Jading, showing 1he date and number of ¢ar in which the goods wereahipped, snd an afMdavit of a clerkof the Panneylvanis Kail- fumished by the | 140 Ppgsage, with Only Six Irreconcilable Neg- be and he hereby In res slder the expediency o l:fl.' cn’mplndny nr’{lnrd h"th !llhnl"ln.‘nm'l l:.'ald;:u.u:é > st the amedat ot I ehirgen e thereon: G The Present Bankrupt Law eneral Frel PR Declared Obnoxious and Unjust. Pennsyivania I R, e DISCOUNT on all_Garmenle of dered of us durlng AUGUST, 1877, k_of Cholca Woolens for ¥ail and Winter now o, and Fash- Ianed, font R ARD BLY & CO. ‘Wabash-av. . co7. " T, **On seeinz tha nada, f Lhe proposed treaty Seward whether (L was Discussion at Some Length of the Question of Specie | Resumption. tion, In order (! might not be misapprehcnded. treaty remained exactly as it waa, and that the no- tilication was not based on any action of the Cabl net, but waa {ssued by the Secretar: ury as nn_administrative act whic Jegally deferred. " ‘ TNDER JONNSOX. .But however well disposed we may believo Pres- dent Johinson and Mr. Seward to have been to the finmediate rencwnl ana modification of the treaty, there were opposing inHuences in active eperation, which, an we know, prevented the opening of ne- totiations ta that end at that time. Un' the 17th of Kebruary, swrote to Sle Frederick Iruce ns follows: fui inqutry made darip; dnced the President to no sach harmony of able, Teaving it to time snd experience to indicate by what methods and to what extent further free- dom of commerial intercourse inay be obtained (n Fildhonss, Duiche MANUFACTURERS OF (45, STEAN, AND WATER B LE R PRICES REDUCED, Jobbors of Pumps, Binks, Regis- aéc., &e. gsforo—Portable Engines, ¢ Ri. vsl” Steam Pumps, COR, CANAL & MONROE-STS. e e————— TO RENT. FOR RENT. Jerolred, That In the judgment of the Natlonal Trade. it (s both unnccesear volitle to compilcate and embarrass the and_imporiant lssue of reclprocal trade botwepn the United Statesand the Dominion of Canada with consieration or apecnlation bearing upou the tical rolations at the present time subsisting, orsible, between tbe two countries, 'hat 8 committec of President of the Board shall be pointed to take charze of this next meeting of the loard, and to adupt such con- tinued actlon In reference to it as may reemexs, dicnt, Inntroy A, Hiul, J. 5. T, STHANAIAN, W, P, McLanex, The Harsh and Heroic Remedies of Sccretary Sherman Ad- settle dixputes, vocated Unequivycally. ing would be consldered hut A NUSINESS TRANSACTION. The word reclorocity asupgested the asking no favors, bt he thoucht it meant asking frlends to connlder a businesa transaction, **Can anything be exchanged that will be of mu- tualadvantager™ Thie conld be done without tnter- fering with the forefin policy or domestic policy of any conntry. He bellevea it was the only tangible way io which one nation could show its frlendahip e thought, If the matter was con- uldered In the lleht of promoting harmony and peace between all the worla, the guestion of recl- procity wanone which should early engago the at- tention of any Gorerncient. there war an interest that could be snlscrved in bringing it tothe attention of the Government. Canada had been acting in a friendly spirit. Fast Mails Demanded, Though They Swallow the Postal Revenues. bject unti] the the receas of Congrese {n- lieve that thero was then ublic sentlment in favor of the extenston of the tresty as would encourage him in dirccting negotlations (o be opened. made sice the reassembling of Congrese confirmed the Lellef then adopted, that Congress prefers to treat the subject direct throuyh the formsof 8 In the meaatime prominent officisls i snd the other Frovinces had been in Washington, snd in connection with, or with the countenance of, the Britlsh Minister, had endeavored to arrange terma with the Committea of Ways and Mcans for, at the leaat, a temporary continnance, by leg- islation, of reciprocal trade between the two coun- But the effort waa fruitless; snd on the 17th'of March, 1840, THE THEATY RXTIRED. The confederation of the Britlsh North Amerlean Provincea soon followed, and the D oncewet tself to wark to bulld manufactures of Its own, and to exiend merce, by way of the gull, rolonies, snd ~twith as mij nited States, Asan tion of the scverity of the shock which the termina. tion of reciprocal trade under the late treaty administercd to commercial exchsngea between the two countrics, it may bo sald that it took soven yenrn to recover from the maction which followed, and to attain again the amount reached durlng the 1ast year of the treaty: and that the proportiun of tho entire foreign trado of Canada carried on with the United States bua fallen from 6O per centto only 85 per cent of the whole, Dut the Inrgely-Increneed exchange of producta wan only o part of the advantage which resnlted to the two coantrles (rom the treaty of 184, treaty all tho vezed and complicated quesilons THE PISHERIES, which had been the aubject of constant correspond. [d, the occasion of almost reen the Government of tho Unlited Btutes and Great lizitain from the clase of the War of Independence until 1854, were put to rent, Bince 1860 al1 theas questions have been ro- vived, and. at this moment, & commisalon is acasion at Talifax for the purpose, if poseible, of detctmining them azain fur anothor verlod, D tingulshed arbitrators and jearned counsel are em- loyed in efforte 10 ascertain tho he two parties respectively, an the Dominion of Can- ada, hae madea claim upor the United Statea for nearly $15.000,000 as balance of compensa- |on for the flsheries opencd under the Treaty of iovernment of The Bilver Question Baved for To-Day, and Much Discussion Ex- . D, HaTEs, 1. B. Bavann. Mr. Tl moved the reception andadoption of the report and resolntions. CANADIAN OFINION. Mr. Adam Drown, Chalrman of the Dominlon Nosrd of Trado, safd ke had listencd with great pleasure to the resding of the report. that the good feellng betweon Oreat Britain and her dependencien and the United States had been ‘The former treaty waa accoptable to wise and good men of both parties, snd the Canadians could not understsnd whr it They would hall with much satiafaction the signing of a new treaty, prepared with care and justice, and the speaker hoped that ono would acon he prepared. neo that tho report declared agalnst bringing in the political question. farms of government, the two natlons respected cach other for tholr attachment to their own losti- Such gatherings as this Dosrd of Trade norved to bring Canada and thy United States into closerrelations, and he was very glad thatsuch was He conaldered that . TWO COMMUNICATIONS ADOUT INSURANCE POLICIES. Hpectal Dispaich to The Tribune, Miwavkes, Wis,, Aug. 23.—The third day's #esslon of the Natlonal Board of Trade opencd at 10 o'clock this morning. President Fraley in the PRACTICALLY CARRYING ON THX OLD TREATY. bat, as had been stated by Mr. White, there was now a demand made for a change, of thelr neighbors to give them auy reciprocity was they shoull adopt growing year by year, Tho perslstent up o nystem of After proyer by the Rev, Mr, sledberry, Becro- tary Randolph read the fallowing communication: Mr, Chairman and Genllemen of the Natlonal Noard of Trade: 1 desire to surges! sideration of your Doard, the ndvisal morializing the National Board of Flre- Companiestn reference to the adoption of ono uniform form of policy by ali the companivs dolng business " In the Unlted States, 1 ain convinced the accony wil] prove a great conven: surlng property of any k ovory perdon effecting insurance to read the policy or contract hin enterd 1nto, Kot the wriiten alonc, but the more important clauses found in the policy n fine print, —the vital tract,—as many have discovored after suflering Toss. Jt might be with fts sister 'was cver abrogated. the policy of the Unlted countries, 80 a4 DESTRABLE" OFFICES IV THE TRIBONE BUILDING TO REINT. Indenendent of the between the two countrien, wonld know that that +ould bring abcut a very serious change. had a vory laree frec list, and it was extensively uacd by the peonle there, and he felt that If they adopted that policy a very lsrgeamonnt of imports from the United ftates would cense. hink it desiruble for the Canadians to commence this policy, but ke conld asenre the people of tho States that the demand wss so urgent thst some atepashould be taken. 1le hoped the recommends- tion of the admlrble report submitted would re- celvo the consideratlonof the Government of this country, and that rome amicable, scneible way would be adopted by which bustncesa conld be profitably conducted hetween the two countries. e Lhoped that no leglsistion wonld ever be cnscted which would alfenate those mpeaking the eame language, for they were bound together by s Ibousand ties, bt anch as would extend their com- mereial relations and cement thetr friendship. Ho was hfppy to Liviog under different iishiaent of this_mntier enca 1o any partles fn 1t is the duty of art of the cone MR. WIlITE, OF HONTREAL, was glad to find that the question of reclprocity, which had besn beought up In the National Hoard year by yesr, was appronched this titie in o moro scrious munfier thau formerly. the DBoard met In New York ate of, cxcitement over the groat polltical question as to which party stould govern this great pation for the next four years. But he felt sure the President who had recently been inaugirated, and the eminent gentleman who wwas cspecially charged with questions of this kind, were protty certain to devote themaclvos to those practical quostions which related to the cementing of a feoling of unfon among themselves, and, ha hoped, to tho comenting of that better commercial interconrse between the two grest kindred people ‘who Inhabited this country, % ‘The people of Canada had NEVER CEASED TO DXSIRE TIE DENEFITS OF HECIPROCAL TRADE. 8o well waa this shown that ot ono time tho Csns-~ dlap Government actually risked tho success of the creht measure of Canadian confederation. were willing at that timo fotake what was called 41eglslative reciprocity,* that is, that from time 1o time lawe on tha subject should pe made uni. formly by the Legialaturenof each country. the efforts of all the ambaasadory sent froin Canada to the United States had falled ona after anathier, I 1874, afterthe present Canadlan Qoversfuont came into power, a dratt treaty was sctually drawn Thie trealy, howeves. was UNPOPULAR WITIALL PARTIES, and it, tao, fell to the ground, of Canada had then taken the ground that furihier overtures muat come fzom the United States, e merchants of both countrles, speaking through thelr Doards of Trade, had always ahown a desiro 1t bad been thought by some that tho abrogation of the treaty in 1843 would prove wmoat dlsastrous to Canada, saod thers were Dot wanting those wha had held that Canads most ba starved into annexation to the American Republic. ®loomy foreLodings were not fulllled, and $ho Canadlans bad loarned selt-reliance, and had struck ot and found new markets for thelr wares. TNE CONFRDERATION has helped very much, baving brought over & mill- During the existenco of the treaty tho imports from the United Statea In- creased, while those from Great Brituln decreassd. It was a fact that the trads of the two countrieadid not {all of so greatly a& wight have been expect- In tha ten yeard of reciprocity tho aggrogate trade of Old ('snada (Ontarfo and Quebee) dn- creased 21 per cent, and [n tho weven years subse- auent to the abrogation of the treaty it Increased 77 per cent, or from 847,000, 000 to $15.5 000, 000, The trade with tho Unlted States showed some fulling off sinco the abrogation of the treaty, bot thatwith Great Uritaln had very Isrgely incrossed, Canada reached 1ts highest aggregate trude in 1873, when ita imports and exports reached §:217,000,- 000, of which 331,500,000 was with the United Btales. There had beon a falling off {n the threo yeara following, but this decresso had been woro marked 10 tue British trade thau o that with the Canada had fmported very largely of Awmerican manufuctared goods, snd thls bisnch vianble to muggest more than one form of policy; for instance, ono for maride in- surance, one for bufldings, and one fur merchan- a0 or other personal b each form of policy muc! pollcy now in usc, and, with uniformity in the mat- ereon hulding a number of policics on oue kind of vroperty wonld have to resd but onc to un. deratand the conditions of all. Lwould sugueat sud recommend that s cupy of the s for insuratice bo attacted to, und made i bo deemed worthd’ of your proved, a recammendation douotiesn huave greut welght whih the_Jloard of Uhderwrilors of the United Yours truly, .- MARINE POLICIES. Mr. Enow, of New York, asked If tha sogpes. tlons or propositions were 10 bo dlscussed at once. The Chair sald t was merely 8 queation of ref- Applyto WM. 0, DOW, Room 8 Tribue Building, FOR RENT. Store 212 Wabash-av,, one of the beat stores, tocution, for first-claas retail trade, i the city. Apply at BRAND'S Ast Gsle lery, 210 & 212 Walash-av. Cor. Wabash-av. and Madison-st., One block from A. T, Slewart & Co. Houee, and McVicker's Thi $2.00 PER DAY. New House—Elegantly Furnished. This wonld make Last year when sinipler than the poncral | €NCo, nd, wo ma, conatant irritation try 'was in a [nadditionto this, AMERICAN OPINION, Mr, Dorr, of Hufalo, thought ke could say why tho old treaty was abroguted. recommended by two gentlemen of Dufralo, who had collocted a mass of statiatieal Information showing that Americs had lost snd Capads had Isrsel T, Hatch and Mr. Larmed, both of Bufalo, bad separately arrived at Referring 10 tho war tronbles, the speakor paid a very high tributo to the mauner in whichthe Canadinne, especially the residents of Up- por Canads, Lad acted inpatrolling their frontler. The treaty was noi abrogated lo conssquence any unfriendlineas between conntrics, but It was & matter of dollars and cents, The epeaker belleved that {t was a pity the treaty had been abrogated, and felt sure that his own ciiy had suffered groatly by its ber trade between Canada and Butfsiy had fallen d 20 had the dutics recelved at the Custom- ‘Tho lo¥a was felt all along the frontier, and even cxtended further, It was 4 pity 1hat auy trealy looking to peace and harmony should be Dbroken, and there was & universal feeling of regrot that such had occurred, The speaker paid A VERY II0R COMPLIMENT TO ME. INILL, who had drawn upithe report, and trusted that |t would be unanimoualy adopted. doubt that the National Board of Trade had con- siderable tnfluence in shaping legisiation. The ofll. clala at Washington, except just bolore election, got into the babit of considerlng theelves us belog the United States, but nfter all, when the Dara had been beaten down, they had on certain dopted the suggertions of members of In Canada the minfatry were more approachablo, and at the seeslona of the Domin‘on Board of Trado there might be seen minlaters, Senators, and Legialators, consideration and recise rights of from your body wou Tts abromstion was ind In the cholce: gafoed by the treaty. mption mads by Lhe uin, hut controverted by that of the United Statos, that on the termination of the reciprocity treaty of 1851 the treaty of 1818, which had been in abeyance, came into full force again, with the of jua provisions in refercuce to n whichtho Britieh Government How this alfcult diplomatic on will badecided we do not know'; but this ro well aware of, that Ifa new reciprocity trenty hed been promptly negotistod, to take thy lace of that which cvased to ho overative in 1Btd, he fasue would not be vnen, and the English claim the United States would een et up in behalf of Canada. THE T1ME WOULD BEESL TO BE OFPORTUNE for th presentation of this subject to tao Presl. deat of the United States by the business mew of with the request on theie part that he the expediency of taking estly action In reference tolt, andof calling the sttentl Congress to it i his first annual me overtures far new ncgotlations must o come from the Government of tho United States, which took the responsibility of putilng an end to the fornier treaty; but a8 far as can be judged from thie oficial correspondenca which has been pub- lished, there ia little duubt that the Government of Great Britain will cordially respond to a expressed by Lur own far & new one, an aking the necessary wlops Indeed, aa showing the frl o this conclusion. Mr. Snow wiahed, in that case, to add marine Se On motlon of Mr. Allen, of Philadelphla, the conmunication and the resolution of Mr. Snow were referred to the Ezecutlve Council. atrict Conetruction o The Becretary commenced (o read a lengthy communicatlon from Mr, lssac Bochanan, of lam- ilton, Ont., embodylng that gentléman's views on tha currency quostion, bat the Board failed to find the matter suficicntly Interesting, and It was ordered roferred to the Ezccutive Council CANADIAN RELATIONS. Epeclal Dirpatch (o The Tyibune. Mitwavxee, Aug. 23,—Mr. Hill, of Boston, submittod the following: The Lommittee to Wha fon of reciprocal trad brogation. The tum- FINANCIAL. PERCENT ‘We have fands to loan on choice Improved cliy pronerty at 7 per cenf, a8 required, der £5,000 ut B, TURN BANKING HOUSE of LAZARDS SLVERMAN Chamber of Commerce, Chicago, 01 “T,I‘I“ l(ll,:‘lklllllltz| {‘Imdncz v, a0 Alcre il Exciiane on ail connirics ‘The Qovernment There was no umr‘:l.n.u rnln'l;er‘l the ques- o United States and the Dominlon n‘l‘ cnfz."l&‘fl.g“"f, e Nationa] iosrd of Trade bas repeatodly Lad before it for ita consideration (hu qu reclprocal trade between the United States and the Domiaion or Canada, snd has uniformiy almost sbeolute unanimity ex| 1ly in favor of the repewal of ed n 1508, on such terms, mutually advantageous, as may be agreed upon by the nationalitica inters 2 ated. Nuthing as yet baviog been accom) subject ayain comes before the Board, placed on the prozramme for the yresent meeting at ths instance of one of the constituent tudics, ane alvo, in councction with the 1 honored delegates trom the Do- forreciprocity. MISCELLANEOUS, HUSBAND OF MINE WITH YOU TO SARATOGA. NT on all Garments or- dered ol us daring ALGUSNT, 187 Qur atock of Cholce Woulene for Fall and Winter now In, and Fashe d, EDWARD ELY & 00, thatan attempt was uslly made to negotiute a nd why it did not succeed (lure will not dls- his trade, suspend. lioped, however, that thal coarugn the new Administration from taking r time and I (ho proj loard of Trade may to maka & nuggestion, IT WOULD ADVISE t the oatact, & new treaty should not bo re- 1o cover too much groun 1o of reclprocity be drst admitted by and between he two (iovernments; and thea et (i application broadly as aball saem mutaall sirable and practicable to both, f In favor of sume such In- the tiorinan Zollvereln, e had bad the hanor to the Dominion Board that & juint com- that Board and of the Natloua) Doard should draw up & treaty for presentation to their respective Governments. The peaple of the tnited Stales wanted & moro fntimato connection with Canada, and should have {t. Without wishing to dlsparage the abllity of Br. Ucorge Lirown, of Canada, and 3ir. prepared the crude treaty of 1d not prove acceptable to any of those intercat. ed, Le did consider that they were not prace They took a column of fgures and judged by that atone, and tho true way to getatan acceptable treaty was for the mea fuily acquainted with the subject to take It up, NEALLY WHY TUB TREATY WAS CANCKLED. Mr, Hayes, of Detroit, thouzht that some points do by the Candian delegates, and by tho last peaker, should not be allowed to pase without & fow words of explanafion. The treaty was mado {ua'tine of veace, and sbrogatad shortly after tho close of & disasirous snd costly war, had necessltuted the taxation of nearly every. tbing in tho Umted States, and’thls fact hag caused & great chauge fin -cll;o: at the proj {on new customers, being suegenied, ' minioy Bosrd of Trade, THE TIEATY OF 18%, putation and negotis- uiat lubors of sach atatosmen as Weoster, and Marcy, and Lord Elan, terminated at the Instance of the {atcs Gioveroment, under suthority and by direction of Congress, capresse: approved Jan. 18, 1805, and communtcated by Mr. Adama to the Forelgn Ottice March 17 of tho same car. T should ho remembered that the notlco of terminstion—to take effect utthe end of iwclva months—was Absolute and percmplory, no repre- seniations being made by tue tiocernmont ol the Unlted' Btates a8 to the working of the treaty, eforts being put forth on thele part to correc equalitics under it, snd no supgestions betug pro- pused by thewm for negotiations ufuny kind fa refer- ence 1o 11 o7 Lo auother teeaty L0 succecd it 1t should be remewbered also that 1nis action at Washington wok place Ia oppysition Lo the stronge Iy-expressed vpinions and widhes of the busincss men of the country. Promiueat Buards of Trade apd Cbswbers of Comwerce, West and K Chicugo, Mllwaukee, and Detruit, uston, —protested esrncstl of the intimate and mercisl relations wl Let the princi- the result of lon; G Mamilton Pish, o ternational arrangetent bus this probably would not at presest be nadian neighoore, a4 long aye as 1862, llvereln wonld be wholly naiatent with the esisting telations between Dritain; and most Cansdian statcsmen are understood ue taking the same view, edient, therefore, Lo presa in a resolution (naw bir Alexander) G thiot, In his opinion. P e RCONMBRONS POSTPONED EXOURSION, urslon on the John Bhifiu\ln, ‘which was to & 'out_to-morrow ather permiiiiog. All or that evening, 1t would seem to bo Inex) this polut pow, orany ol forchund, would probably bs unacey ol o8 1874 failed becauso this consi Nor need we stop 1o Inguire as 1o which of the hbor countries mua; ngd w v p::« o last .I‘:l“‘" nd Ry S0l Wil b yuo Perhapa the effort of iderution was uot duly COMMITTER =—Young Men's Organization fxgu ll?:r{.“g'l Church, GUATES AND MANTELS. vt s et e e VO Gold and Nickel ad SLATE MANTELS, or will g Henost | 7 ncnBasxn DURISG TR LAST FOUR TEAKS. ‘The depresslon of bosluess in the United States had thrown this claas of goods un tho market and the Cunadtuns had bought veey froely. Tha ru fechng had boen created in Canada that fering from thisfact, and thore was uo more popular cry In Canads thau cal dutles If wo cannot havo reciprocal froe trade.” **We recognlze tho fact that, although separated politically, althouzh iiving under differe ent forms of Governweut, although owinZ ale legisace to difsrcnt Btatos, have commercial intercsts so.closcly Identified with each olber, so intlmately Interwoven, thst th¢ lntereats of the fwo conntrics would bo best promoted by tho most thorough snd complete recl- procity of exchange botwoen them. Heve, ls undoubtediy the fecliog of TUR BUSINESS MEN OF CANADA stthis momest. AndIsm glsd to bulieve, from the repurt wbich Bas boen submltted, from the carnestness with which this questlon has beon that that s comjng to be tho feoling of the buwuess mep, and ‘I hope with )l partios in the United States ss wall." It was sald that they bad nothisg to offer in ex- change for reciprocity. Well, even if they had nothing, that would not be avy zesson for refusing nection it was well sal of the Commitiee on Cummerco of the Huuse of Iteprescntatives, submittud to ConZress on the 5th **Let us not lnquire curlomsly which of the two wonld render the most useful aervica to the olber under & developuent of sctual re arts of the American continent, 1 aro wonderfully sdupted to each flerent portion of the coutinent do not proftably admit uf asy commercial separation, und the principle of unreatricted tarcoures with 1l Britlvs North American posscs- has ueen approved aliko by frea-traders and protectionists st sil pariods of our national exist- Yere 1o another polat to which it would scem ropor that the Natlonal Hoara. should make soma ference in discussing this question. the circumstauces GRAT BOOUN'T on dered of ue during Al Uur stock of Choico Fall and Winter now in, and Fash- d. EDWARD EL Wabaah-av., cur. Alonroe. .. OCEAN STEANSHIPS, NWWW N u 9] North German Lloyd. Camers of thts Company Will sall o 11hs T nd i ey Rt cabln, $100% suon S Siccruge, $30 curreucy © ¥or feeigae 2 Greca, Sew Yol mship Line. agalnst any rupture nlermational co- ich Lad developed under the of February, 1883 ust system and perfoct Glye usrecipro- | tazatlon, could acll lumber in thy United States ot 85 per 1,000 less than ihe latter could produce it ‘The result wts u vory beavy pressure un the 25,000 milly, ewploying over 110,000 men, and thls was tho cause of the treaty being abrogated, 8ince that timo thlugs bad clany pressure did pot uow exist, Tho apeaker favored reclprocity, aud thought that peoplo who unde. wtood 1ho business shiould bo lutrusted with the preparation of a falr treaty. MB. BUCUANAN, OF TRENTON, had beard it »3ld in New York that thepe wasa feeling in Canada that If reclprocity was not grant- the Canadlans would imyo: THE DETROIT COMMERCIAL "onyention of 1845, an able aud roprescatative nerclal body, after s Jong and carctul consld- eration uf the virlous questions involve d vernment of the Lnited open nerotiations withoui delay for a new treaty 10 tako 1 @ placa of that which wos to expifo ln sccordunce with the notice of - termination slready bad been serveil. jown (hat auy commerciul bud; slates axked the Governwcnl, ordesired it, totake tho courve it 814 take, 1t was, of courso, treaty bad not wor expected, and that 1t inlzht and al and twproved W briog it | couditiou of attairs which bad come info exialence stuce it+ negotistion, It was Special Cumuiittee of the New Y mmerce: **Tho mp orin America. 1¢ wel estedin the sudject, moditcatlon of tha retain (ta bepedts. ™ in urging tho commercial ine the same tlmo wo gatn, and that s in the Unlted understood that the cle a8 Lad been uld be chanyed BLAINE, UE 8AID L. nt New Englaud pollticlan, in the nntllu Fourlh of July, last frsnkly avow that the incosparation Amerlcan Provfuces in onr Unlon would be & vast addition Lo ourstrengih, auda large elemont added to our growth aud prospority. betlter portion can be found hat which (ubabits Thoy ato not ab present coutems with us, nor sre we uiaking the slightest overiurea towards them; but the contia- ued growth of mutaal 1aterests, tha quickened and quickenlng infAuence of coustass intezcourse, will, oriag us together. them dally grow wose fntimate; iy SHthigey ABHIY Great Western Stea ¥rom Now Tork to Bristol (Esgland) alises. taken up bure, aud forelgn trade 570, & dJoscription of goods subject to tarifl, somo paying 10, soma 174, some 23 per cent sd valorom. and others subject to specide Ho would ask If there was not already s tari® in exlstonce. . WHITE, OF NONTREAL explained that the tariff was a tariff for rovenus, acd applicd to the world st Jarge. ute in- favor of procity Tresty, tn Aw loug before as 1850, when it bad been com- lained in this country that receot Canadiag legilse tion hd bocn adverse Lo the spigiEuf tho Lreaty, " t \Washington, submitted n $he globo than ! {ou of Canads, platiog aoy union i bloeraxe Pt Blosrage THEY UAD GOT SOMNTIING TO OIVE. 1 i R Undor tha treaty tho British Goverument bad con- LORD then British Minister sl discrimination against the oroductions of the United Staten, 88 wonld be scen by the list. A VOTE WAS TAKEN on the adoption of the resolations, which were carrled, —yeas, 20; nays, 0, —as foliowa; Yeaz—Ttopes, Hill, Dosr, Bensley, Oldershaw, Counselman, Egan, Taylor. Gann,” Dana, Davie, Haycs, Raymond, Cnamiberiain. Hancock, McLaren, Allen,'Jolmaton, Ray, Stransban, Miller, Snow, Barron, Wetberell, Malone, Lnker. Yayr—Allen, of Philadeloh Holfman, ont« gomery, Bachanan, Exton, Winsor, THE BANKRUPT LAW. REPORT OF TIE COMMITTER, Rpecial Dispatch to The Tridune, Mriwavkrr, Wis,, Aog, 2%.—Mr. Allen, of Mliwaukee, from thn Commities on Consideration of the Baokrupt Law, prescnted the following re- port: v Your Committee, to whom wan referred the sab. {ru of the existing National Hankropt Jaw, begs cave ta report the followin: reralutiona: S comid go In and bnz’gghd thea they would flood the country withgl > cks,and np the prod- nets would goagaln, Anu’.is would be repeated month after manth and year after year. There- fore, the Committee rejected the project, They had made thelr report very ahort becanso they want- ed 10 preaent 10 the Board something that wonld he of some ecrvica, that would hit the mark. ‘There were other things they could hava rald, and farther recommnendations would have been made, but they belicred that this supplemental Tegislation, as ¥ecretary Sharman haid sfated, could tertore the apecle standard withont any serloan damage o the hnsiners Intererts of the countrs. WIHERE WAS THRZ “AGel? Mr., Allen, of Philadelphin, asked If the wholo fobject was Lefore the Noard? ‘The Prealdentsaid that the conatderation of the resoiution necesearily invoived all the propositions that weze referred to the Committee. TRE CRICAGO BUNSTITUTE, Jtapaiced. That. (n the of falon of this Natwnsl Daard | M. Olderatiaw, of Chicsco, inoved to strike ont :”“rm;.'w: mx,‘ 'x::y;”“-lv“;:!u;m:“.ug'm'ryu the resolution and insert the following, which AT 1Lt mare et A0 GiealrE 1 VB8 rpRsrac. | CAME Up from the Chicago Board of Trade: 110N pit upoi It by The Fouris, an.d he: ought o he Jirnoleed, That in the judgment of=the Natfonal Te| be, hetter sl red snd amicoided s [LE oard of Trade, lezal-tender noten [aned by the Federal Unverninent, rederinablo in cotn Wis do- mand, at the Treasury In Washington, or at the office of the Aatistant Trewsnrer in City of New York, st the pleasnre of the h ., wonld constitnte the most deaicable papsr elr nz me- dlum that conld e xnuplied 1o’ the peupie nf United Ktates, and that if & anitable sreanireront, divorced from direct Uongresaional or politieal fn- terference, ¢an bhe devieed for 113 manizement, conelderations of ecanomy and conver ce, ulike tothe fioverament und the peaple, demand thee #lepe be taken to prosile sl “protect auch tasties, that at an eatly day they may tecome tha perina- nent and rale pupet eurrency “of the cotntry; a thiat the busincen of bankine, namely, the loaning af money and tha care of denosits, “be hand4 of corporations, firme, and ind der such necesaary eapervision or copteol us may Le deemed peoper, and be vrovided by the s of tho several States, Mr, Oldensbaw cafd. fn support of the amends mrnt: 1 think there are not many people of comnreben. alve minde and conservative views who will alie with us on the meeit of this resotution. hut t quertlon with them will be g to Lie thne v hon, anil the heet miethod 1o carry [tout. 1314, T bes toavul, If posnibie, the great wrongs that are now |EIpch st nmler Hasancting, e ray unjustcieeaum L uperates Arst 4 A premium npon frawd by mAKIDE it 0 the ingereat of deliturs 1o vffer luw (F1ms of compor alt'on, therehy making to themsrlves mare moncy, or, TAUher. Of FeLalbing otiier faoney not belunglig 1o them, than they conld acqutre by shelr iaor sod the due adurce of Init Krity. 2, Tecause I71aces the honert 1 cy of tha disinest oue Ly 8 shw campeticlon ‘tnd an uttee disredunt At s, knowing Shat relirg can be had for ail reckiesncss and distionesty ta the Darkrapt acl, G, That, 0 this Tegard, [t deioralizes Lnsiners, de. rirose cominercial integrity, Ipairs vonfidence. wnd tends o destroy 1ha crudil upon Which uur wholé coune merciai fabiie rests, and this g 3 * ingiry of hooestenferurte evding the ali of leglil, ina e creditn antothe (njary of the unfortonate and betrayed creditar. 4. (hat the law 18 not uniform In its spectd requiret by the Conttitution, but lisy thirty. oUs Applicationy orroponding o thie nimbe tn 1k Laloo, amd this e, en IVE devtor v fng spould [ ihe operstiona of a & 1ia| 5. That the Sudicinl consiructions put ipon priority of unsecured Teat and eonfeston of Sudgtient opers mies with the greatest hardship usod ussuspecting credttors, compeillne them to wlve credtie fu tie da and jomee their credita by sttacks (o aubush, aud cons Hemed by thie poiesmn sanetions of Lo, lieve, thin noed of i guarantecit recaety azifnst n (3R h ition .:';:.‘J‘m;.;".a‘"‘:.é.:t.}:flizt tinctnating carrency (which this resolntlon pro- g [y wides) that s the role cause nf o of eonl destroyluz toe very toutidation vf that ety aft commerclal credfts rest, f seven be ape nainted, of which the U'restacat uf th of Trade shoutd oe thie Chalrman. 1t sl fence Iy long and larze inveetments, and the: apizal of the country. tan conditidna we all tience of forelym na. 8. 3 cunfdence on whi Fesoirat, That 8 apecial committer il ty by 0 devthe which coamces i e KASkTupt v as oS | gione. bt whether nnder our sgsten of Guiiren- atiall e gamet fline avoll, it ‘that Be {onible, tie | Bal chanzes of Government, and under onr eviis hereln polnted out, and_soch other evils aa ahall | theory of so many sovereigon amil no few be fout to exiat In satd 13w, atd prescnt the same (o | aorvitars, It could ‘oo succeesfnlly established £onprom AL 118 LeXL | egulss sémion, sud UTKe Upon that dy their sdoption, MB. ALLES SAID, IN BXPLANATION, that it wes well knuwn to all commercial wen that lawe forihic relief of insolvent debiors must exiat inall conntries, But the Unlted States had for fifty yeara left the passaze of the neceasary Jawa to the different States, The it national Bankrupt Jaw wis made n 1810, and fo & ycar or, two was olotted from the stataté-book® In connequence uf the frands which had been committed under it No ottier national law was prepared nnti) 1846, when the existing law, since amende: in varions ways, was passed. 1t haa proved, i€ poseble, more obnoxioue to the honest debtor thau the llegit- imate creditor than any which preceded it Tt wos possible for a dishonest debior to make terms with ose creditor nud TO PORCE A COMPOSITION ON THE OTHERS. “Then the law held that notes made in composition becawe slinple dents, and that, if not ‘met. the claim only stood for the face of the dett, Mer. chanta knew that the taw sfforded opportunities for distionest deblors at the cxpense of the inno. contand suffering creditor, The spraker was al. mont of the opinion that no generul law on this subject, any more than on the tarid, could be pre- pared without Jeaving loophoiea for frand in Ha administration. If it wers found Impossible 1o enscta law by which the guod to ho fained was more than the evll to be wronght, it would be bet. ter to do withent such luw, The Committes had triod to show that the poor defrauded creditor had rights as well as tho dishonestdebtor, [Applause.] ML CUAMBERLAIN, OF DUBUQUN, sald that Lls Board had taken much Interest fn thin question of 8 Bankrapt Jaw. EfRorts had been made In the past to grant relief to the suffenng debtor, and he boped that now some effort would be made on behalf of the suffering croditor. UNANIMOUSLY ADOITED. ‘The report and resolutions were then adopted unanjmously. RESUMPTION, BCTIEMB OF TIE COMMITTER. Bpecial Dispateh 1o The Tridune, Muwarker, Aug. 23.—Mr. Taylor, of Cincin. natl, presented the following: The Committes o which was reforred the resolu. tlons respecting tho Resumption act and (no ua- tfonal currency, respectfully submit thio following: esolred, That tn the oplulan of the Nattonal Boas of Trad Congpess hun phny o ass 0 meceeuary y the and kept ranning, the experiment slone ctan confeen L have my misgivingaol it hus we at Jeast can recommend it as @ principle, nnd lenve it ta time, andt perbaps wiver heads, 1o do- velop and work ot ite necesrary detall, Tt i & patriotic resolution, for who is there amunz us thet will not relolce at this issue of tho one colu-redeemablo currency of the countey, which would®paes ¢arrent in every part of thy world, and be eqnal in credit at all times to tha ublquitons fank of England note? TIE AMBNDMENT REJECTED, ‘The qucstion on the amendment wos thea put, and the Chalr announced that the *'nocs™ ap. peared to have it, The yeas and nays were demanded. EXPLANATION DY MR, Rores. Mr. Ropes, of loston, asked to bo allowed to explain Lls vote. Tle anproved the sentimunts of tha resolution in the abstract, but was anasle to vote for It in the concrete, Many years of cx- perience In $1. Peteraburg had shown him the workinzs of the Ruseian currency l!aws. Thelr uld ctirrency had depreciated to abont 23 cents on the dollar, ond at last toe Government lasne coin roubles worth 100 cents Yon the dol- lar, Thia form of currency eeemed to pive great eatisfuction, and tho epeaker was so Impressed with thelr advantages thal ho tried to Impress them uvon hls Amerlean friende. Dut wlhen the Crimean War came the Government helped themselves {0 the specle fund by which tho notes were accured. ‘The consequence waa that the notce “depreciated, although they did bear on thelr backs the nofico: *'This note s recured and guaranteed by the entite financin) resources of the Empire.” Was not thisa vrinable joeeon for the American people? Tho speaker hoped they would take it to heart. Whatover banka Imsued notea could be sucd, but yon cannot sue the Gov- ernment of the Unlied States. THE VOTX IN DETAlL. The amendineat was then voted down, —yeas, 63 Oldershaw, Milfer, o, . Connsclmi Taylor, Gano, Davis, Hayen, Raymond, Chamberlain, Hane cock, McLaren, Alien (af Milwaakee), Johnston, Llay. Stranaban, $neas, Darron, Alien (of Phila- delphis), Winsor, Wetherell, Hofman, Montgom- ery, Exton, Dorr. ¥ A QUESTION. Mr. Densleyasked Mr. Tayloe If the practieal re- ralf of the rerolution carried oot would not be tho continued expansion of the natlonal currency and the continned contraction of thelegal-tendes lasuc, perhaps without reaching par in goid at all, 1f that was all tho Nmit, and hence gzalntag $10,- 000,000 & month, unlil tho greenback fa- suc was entirely wiped out, and the oniy paper currency would be tho Natfonal Bank cur- rency; sndthen they wonld nnt nccessarily reach epecie pavmente. 11 he understood it, the resvin- tion provided only for this one thing—a pusalble montbly estinctlon of $10,000,0¢0 of greenbacks nntll sho curredcy shall reach par Ingold. Sup- pase the banks, which had siresdy begun to retire thelr cnrrency, saw that the currency was goinz to be made so ecarce, would make an effort to In- creass thelr eirculation, and, perhaby, get additlon. al tegislation, amd thus keep tho currency away from par? Would not that be the effect of the resolutlon; or wae not that effect posalule? REPLY. s, Tavior replled the banks would have ta take care of themeelves, Tho Secrviary of the Treasury was now armed with the power 10 sull gold bonds aud acenmulaze specle, and bring about the restu- ration of tho spectu atandard, bul this was not suf- clent In ftaclf fo casble him todoso. He (Sher- man) bad already Intimated i ho bad the power to fund the lezal-tender notes loa certain extonta wonth, he could brine about and roetore the apeclo atandard withont amy scrivus disturbance, At what poiut, or how nany greenbacks would ba required tabe retirod to brimg them to par with gold, the Committea didn't pretend to hnow. BOLOMON JIIN3IXLY COULDN'T MAVE TOLD. No msn conld sce that forin the future. They merely laid down the principie that they should ba taken out of the way and funded until what wera left would bo circulated st par with coln, It might be a long thne before that polnt wasreached, but wben It was reached the cvin standard would be restored; and thea gold snd notes would cie- calate logethet, ANOTIER QUESTION. Mz, Miller asked what the prodable effect would ba upon the carrency If no provision were made. Wers they 1o Wwork eniirely upon National Bank currency? Assume thag all the greenbacks wera retlred—tuat thoy uldn't geach par with sold until they were retlred, As thesg greens vacks wero . the basis of the Natlonal Pask turrency, in whai way was ibo National banking currency to be kept up! If It were to be done away with, what provi¥lun was to be made for tha currency that was to be uscd in the buslucas of the cuuntry ¥ ¥ MB. TATLOR ANSWERRD that thero was a general National Bank law, by which suy Nve pervons tould incurporats them- stlves together uud lrsno currency. How the bauk provided for tuo redemption of its notes the Committco dlda't soow sud didu't care. They were couddent that the banks would bc able 1o take care of Iemselves, If the Uovernment would only redecns s promises. It wae the Governwent that drove ppecio frum the countsy, snd the busden of restar- ation should zeat on tue Guvernment, and not upen * the people. 1tehoald restaro usto thai condition which existed prior to the Wig: What one bank would do, or what snother would do, be dldu'e know, but he did koow that there would aiways be currency enough. The moment thore was a do- mand for it it would come, BTILL ANUTHER QUESTION. Mr, Wotbercll—After you Bave wotured the re- sult which the Cowumlittcs recommend. what is W bo dona with tbe lozal-teuder notes outstanding? UOLLOW LARVTER. Mr, Tsylor—Suficlont uoto the day is tho evil tbereaf, [Laughter.} Mr. Wotherell~That answer might snlt soma. [Renowed Jaughter. ] MR. JOUNSTON, OF NILWUAKEE, sald if the banks found thet greenbacks wese gets tiog fewer and fower, they would be under the uecusaity of substituting colu s thalr reserte; bub terest per annuin. o3 grceding €10.000.ulb per ionth Untid tho legelvteud: era shall be at par with coin, ¢ LAID BY. Mr. Taylor said that, if desired, the report could be printed. The Commitice were ready to take up the report st any Hme. Consideration was temporarily pastponed. Action waa then taken on the Bankrupt Iswas below, ) TAREN UP AGAIN. Upon the termination of the ulscussion concernlng bankrupts, the Board took up tho resviutions prepar- ed by the tpecial Commiitee to whom the matter of specie resumption waa referred, and which s Riven above. MR. TATLOR aaid thet sll wonld agree that the Resnmption act, a8 1t stood, waa inipracticable, It had been char- acterized at the time of its passage not only in tho Sonato bat In the Houso o icy without a plan, and was a compromisc measure, Like mo:t ¢am- promlscs it was very imperfect. President Grant had called upon Congre: to fumish tho suppleinental leghlation necessary W0 make the law wflcciive, Bo had Becre- tary Dristow, Tut Congross was so bLusy witn parly matters, and there was an gpprosching Tresidential election, so they put it over, As the act stood, it could not be executed, but the Bccre- tary of the Treasury had recently ssid in a pablic upeech that if he had amdbority tn foud thé'legal. tender notes it could be easily executed withouy any serlous detriment to the financinl or ludustriat Interests of the country, Therelore, in recommend. ng thut bo should fund $10,000,000 per month, the Committes fixed upon & sum that men could calculate upon and govegn their business accord- ingly. The Committes URG had before them tho proposition from Chlcago TO MAKE GREENBACKS THE ONLY CIRCULATING ¢ MEpIUM of the country. Thoy were unanlmonaly opposed toit. The history of all Uovernments from the earliest period uf cavilization down to ta-day showed that paper had invariably been repadisted. More- over, if the Governwment was to take upon itscle the fesuc of the moncy ail our clections would furn upon 1bis financial question, and every Justicv of thie Peaco and every Constablo wuuld bloom ont nto o financier. Woshould never get rig of the agiwtion of the question, One party would promléc %0 muchoney, andaoother would **secitandgoa 1ltetebatter, " andtihere would ba contention foreser, The Commitice were of opinion tuat it was of the utmast Importance to get outof tha way as quickly 83 possible all tho evidences of debi; that it was tinie for the Government Lo redeem ity promise to pay; and that,aé it whuld be unable at the present time to redecws the legal-tenders in coln, an opportunity 20 fupd them skould be piven to tho peopie, This could be very readily done. The lexal-tenders were lssued in scries and numbars, aud tlay could be called In, without viving any pereon an sdvantage over auutlier, at the rate of $10, 000,000 3 moolk. The proposition of AN INTENCONVERTIDLE DOND was also brought before the Committeo—that it weuld be well to have bonds couvertible back into greeabacks; but the objections,to that wero very grave. lathe first place, the Goveroment would Le epgaged in runulug s soup-house for the benclt of wealthy people, Everybody who had a balance in bank would convert it Infu bonds and pucket his foterest and then convers them luto greenbacks. 1o did pot thigk it was g part of the funclons of Goverument to pay htnul on balsnces of that kiad, Furtber, 1t would puts club in the hands of 8 fow capltalists In the Enatern Statea with which to speculato in stocks. TUEY COULD BEADILY LOCK UP OREXNBACKS by puttlog thew io bonds, dJepross products snd stocks, untdl the prices rvached wheru they