Chicago Daily Tribune Newspaper, August 24, 1877, Page 2

TIiIE CIICAGO TRIBUNE: FRIDAY, AUGUST 2 1877. 11, Inetead af tnat, they raw no seithdraswal of cir- culntion, then greenbacka would continue ta be their reaerve. ADOTTION OF TITR RETORT. The queation was then put on the adoptlon of Ahe resolution, and it waa adopted, only threo or four voting Lo the negative, DIVERS. TORRIGN CONAULS. Fpeetal D-sputch 1o The Tribune. WMrewanker, Ang. Z3,—Mr. Naymond, of De- trolt, offercd the following, which wae referred to the Exccutlve Council: ? Wiengas, We -rf-m {ho extenalon of onr for- elpn commerce a8 of vital importance, und helieve hat the Government of the United Stafes shonhd exert nil i+ coustitutional pawers to proute the #ame; therefore Jiesolved, That a memorial be addressed to the Présigent of toe United States by (he Natloual Toard of Trade recommending the sppointment, *0 far fa peacticable, of men ta forein Coneuls #hipa who are fumiline with the manaficuiring ins terests of the country, aind tial sume syatem of repotle be devised which shall plice before our mannfactarers, at feast scmu-ansiually, the wanta sud nerds of diflerent conuteies which msy be sup- plied by Americnn products, Teeevlerd, That the preseul system of reparts of one commercial relations with” fareign_countries. which ate published on the_averave A year aml 3 BAIE after beine made, ts nearly valielcas foe the purpose in view, ienntred, “Uhat the General Government shanid urge and ivite une nnnufacturers to Invertirate, . Ahrongl (is represcntatives abrond, whatevee op- purtusities there may be for_tntroducing Awmerican oo Into their varions warketn, THE POSTAL SERVICE, Mr. Wetherell oflered the fullowing: 21 Thal the juferests of the mercantilo and husiness community, as well o8 the social in- ferests, require that the appropriations for (he Ofice Department bo made, like those fur othier depaiiments, tommensuare with the wants of the service, withont special reference to ita or- the constanily-lncreasing de. e raptd and certain Lransmiesion of ulence requires the grafting into ihe « one of 119 recogmzed features dhe estab of two limiled mail-tramns between tue West, and one between the North snd Sonth Ttezalved, That to obtain the greatest efclency 1 ervice, the Postmasier-tieneral shoutd have the power (o direct at what_hours and with what speed the mals should he tranmwitted, and that provixiou shound be made to deferining any difler- Fice that may anse letween the Government snd the cartying compan Retolved, That tcreased arpropriations should he made (e enable the Postmaster-General 0 fur- nish the Soutls witli » postal ecrvice in_proportion to the extent of the teertory and population equal 1o that of the othee sectivns of Lhe cunntry. NUERCHES AVERTED, Mr. Wetherell wished that the Board wonldliaten to the gentlemen of (he Postal Commiesion then fu the Board Chamber, ; The resolutions were received for the purnose of aliowlns the centlemen concerned to dlacuss the quentions Taised. Mr. Oldershaw hoped the discnssion on matters not lown on the programina bo postponed unitl Ahe next day. Some delegalions, nutsbly that . from Chicagu, had thinned out, and it was quite poraible that there might be na quornm uon Friday, Tho Chalr sold that the Board had decided to hear the gentlemen, and probably thelr remarks would be bricf. After pamo futther dircussion, the subject was made 8 rpecial order far Friday morning. AN INVITATION, The Sccretary read au invitation from tho Preal- dent of thie Chicaro Doard of Trade fo the mem.. bersof the Natloual Doard to viet the Chicago Toard, and added his own Invitation as Secretary theteto. ‘The lnvitation was occepted. DISCIPLINR, Mr. Hoffman, of Philudelpbia, called np Propo- sition 14, submitted by the Milwaunkee Chamber of Commerce, nn follows: Reeulved, That tho constituent bodies of the Nuttmal Doaed of “frade be requrated to forward prunantly (ot tary of tho Natlonal Board of rade the wages of a1l wembers ‘suspended o es- pelied fram he tocal Bouardw, ¢ also the reinstat- in2 of mch memuers, und that lists of such naies be Tusnished bY the ry once every wonth (o the Seeretary of vach constituent hudy 1n the Na- topal Board, Re<olred, the constituent badics of the Watlonal Doard bo recamuended 1o adopt rles yroviainz that no peron undee sentence of sispen- A y commereial body cepres + utonul Board of ‘Trade shai itz o meborsdug n thele tespective o $70tions, noed Lt if aay peaon hedeclared elect- el maiet ruel clrensistanses auch elecilon shall be void. Mr. Mclazen, of Miliwaukee, polnted out tho necesslty 1or the ton of sich n rule a8 that pooposed as A raferuard against fraudulent deal- ers. Mr. Oldeshaw rald the subject nad heen brought befure the Uicago Bosrd, aid that hody had taken even stronger around tun tiat oxanmed in the reeolutions. Mr. Ezun, of Chicago, moved as an amendmont that the words **suspended or™ 10 tho Arst resos ntion and the words **ausbension or'' In the sec ond resofution be owmitted. Tho Chicage Doard of Trade nllowed retustatement In certatn cascs, and It woutd not e e to publish to the world tho nane of a man under suspension. 'he Miiwaukee delvgatlon declineil to sccept the proposcid smendments. f Mr. Counselian, of Chicsgo, showed (hat men were suepended for two canses,—inabllity to pay uo un coutracts and for nan-payment of dues, To uotily all Bosrds In the country of the suspension of a man who might be reinstated next week would cause i great deal of work and would do wrong to the partien concerned, Mr. McLaren, of Milwaukee, beld that while suspenslon from any une Board cudured the per- o auspended should be ineligible for admlssion to any other Bourd. The amenduenta proposed were adopted. Mr. Gano, of Cincingatl, moved to further amend by the Ipsertion of the words, **ufter ex+ pulslon for cruninal or dishouest condaet,* Messrn. Ropes, Hensley, ‘Taylor, Snow, and otisers, spoke briefly, The amendment oftered by Mr. Gano was vated down, and the resolution as previonsly sended was adopted, INDICES, Mr. Haffman maved to praceed to the considera- tlon of Pruponition No, 17, offercd by the Cluctne nuti Chamber of Commerce, as followa: Resolred, That the Cinciunatl Cham ver of Com- merce recomnend to the Natioual Goard of Trude thie ru-establishment and’ continuanco of an Index of wuujects woich have been considored by the Board, and the tiyal divposition of sheat, The proposition was syrecd to without debate, BIONAL SERVICE. The Sccretary read the reaolutions velating to o reorgunization of the Signal Bervico, r. Hofman moved that the Execntive Council be authorized to transmit the resolutions lo Cone gress with u suitable memorial. The resolutions were adopled and the words suggested wore ine seried, 2, TIR $TLVER QUESTION was then called up, and Propositions 10 and 11—the former submitted by thw Chicage Doard of Trade and the latter by the Cincinnati Chamber of Comuierce—were read, Tho Chicage proposi- tion was aa follows: WiENEAN, Uongress, by an actrevising the coin- g bt ‘the Luited Males, appraved Feb, 12 . fulle tender quality; sud Wurncas, Subecquent legislation by other come mercial nations has greatly restricted the use of i {, thereby reducing ite bully relatively with gold much below what ob- tained for iure Vban u century past, and |f pers sisted In wost incvitably deatroy o greatly fmpair the »tability of )ls \aluy aa & mediom of exensnge nations: and sas, Auy wetal, to be of & permanent s o iedium by which the vilues of otbur adities are nivasured, should poascasa recoge ied cotatercial vaine, aswell among nutions a8 atieed imdividuale: atd the deo a6 wones of two or Thore 120t2;s by vomiaercial nutlone upon difereny elative valuativns cau only resnlt i complica- L:uam snd 10 loes 10 tose placine tue bigher val Vi 4y vie as compared with the utlier or eloe, B it e pave eapericnce of the United States, the banebment from cireuistion of 4he ony under- med désfrable, if it were ‘discard wa moncy the yreater pary of ock of cotn metal hitherto in'use as i t the Nutronal Board of Trude s that immediate ustional monetary N nhng leading comsbiercial nie siens, for ihe puspose of eetanlvhing, If porsible. » s relatne waluation etwees gold aid ilver, abd Wit unrestricted coluaye aud uve ud wouey of cxckange by the purtfcipants in such ceptention. totke”end’ thal stability sy be fin- parted 1o all the buancial caleniatione wod enters prisce, both fureigu and dowiestic, of $he people of the United Stat TUE CI was as foliow: Kesoleed, That the Natlonsl Board of Trads, in view of the near approsch of the time sppointed for the reeumption of vuecle paymen in view of the character and clect of the coinaze 3 1573, rerpectfully frcomuends lo thie Congress of the United States 4 comndeiation of the propriety of rc-establishivg the niver dol- it oud Bueuvad cXleting s of eaid act, &4 & udit of money CINNATI RESOLUTION Consideration of the proposltions was postposed until Fridsy morplog. KEEP IT BEVORE TUE PEOPLB! Ar. Gauo ullered the followtng: Zcaolred, 'Wbasgbe Ezecutive Cosucilte request. #d 10 heep Lo Vet o Lo vérivus quealions oo Which U pruvide for any siiver coiu of a full value the Ume the linard hae taken afirmative action in the wnd, #a far a4 they continue o be living 1 {expeciatly queations of feference), to prees upon the attention of Congre=8, or upon the vari- oun State Legislatures, as_the ' circumstances” of each care may requice: and, nleo, from time to time report progress o the Board. ADJOURNMEN The resalntion was sdopted, and the Board ad- Jonrned until 108, m, ADDENDA, InTHR TRIArxR's report of Tnesday's sorslon, the aclion of the body on the resolution in rexard 0 e Government anserting and defining ite furis- diction over (he navignble waters of. the countey waa madreriently omitied, 11 wasidéended to em- hody the resolution_in a memonal to Congress, to e prepared by the Esecative Councll. TESTIVE. AT THE SOLDIERS' HOME. &pectal Pupateh (o The Tridune. Miwausrr, Wis, Ang. 22.—This afternoon after the adjournment the members of the Board seere driven aconmd the city by a delegation of the logal body, and later vieited the Soldiers' lome, where they wero glyen somethinizto cat and drink, ani listened to speeches by Alex Botkiu, of the Sentinet, and oticrs, Premdent Fraley and two ot three of the delegaten also making remarks, TO-3LORROW will perhiaps be the last uay of the eession, sinco there are only two or three proposiions yet to be disposed of, Uno of thesa s tho silver question, nnd the debate npun 3t promises to be epirited. RELIGIOUS. JOLIET DINTRICT CAMP-MERTING. Special Dispatch ta The Tribune. New Lrexox, I, Auz. 20, —The second day's sesefon of the Joliet Diatrict Camp-Meeting was held to-day, under the most anspiclous clream« stances. The gratifying success attendant npon the opening excrcises yesterday served as n stim- ulus npon the management and participants, and n unuanally good day's work was accomplistied. Service was opencd by a general prayer-meeting at 0 a, m, Thie was followed, at D A nt., by prayer hy the itev. M. 1l, Plum, of Elwood, TII, A eermon ot 10 a. m, by the Hev, Mr, McCiay, of California, closed the morning exerc The afternoon services were inangurated with the children's meeting, which took place at 1 p, ., uudet tha efiicient conductorship of the ey, Sunford Washburn, of Plaintield, 11k An eloquent \iscontse. at 2:i0 p, mi. by Presiding-Elder Drad- ford, of New Orleans, was listened fo with great pleasure and proft by the vast assembly, after Which, &t 7 p. m.. 8_termon hy tho Kev. J. % )‘unlu, of Manteno, 1ll., closed "the exerclscs of e dar, ‘I'he attendance at the mectings, thongh large at the commencement, ia increaring dally, and shows the Intetest manifeated by the surtaiuding people in_this oull work, The utmont good wrder pro- vatla, and nuthing has occurred to mnrthe pleasuro of the assembly, “Fhe aunouncementa for Friday, Ang. 24, are as folluws ., acrmon by the Rev, Wiliam Auguetus Smith, of_Kankakee, 1111 2510 p. m., secmon by the Rev. 8, 1. Adams, of Chicagu. EAR LAKE, CLEAR LARY, la., Ang, 33,—Tho Suniday-school Ansembly ovened here last night at . Tho Bon. G, K. Gilman presided. The Rev. R, Swear- inger gave nu adoress of welcome to the Chrietian workers, after which interesting and spicy respon- sive aperches were made by the Rev, . D, Wille 5 . inms_for Minnesuts, Dr. E. Corwin for 1llinofs, the Rtev, it. C. Wrignt for Misouri, ‘The Rev, J, 1. Newman, of Wunhinuton, tesponded very elo- quently i u gencral manner, Tiie firet Axsemuly levture wae given to-day at 10 8, m, vy the Rer. Corwin, of Jackeonville, 111, Snbjeet: **Tho lleruic In the Hebrew Char- acter," AL po.m., Prof. . D. Dutler, of Madison, Wik., Tectured on **Hanh * to & delighted sudis ence. B’rllm Normal Class wns conducted by Judge utler. The nadlences are composed of very intelligent- appearinz people. and from the present ontlook the Asscmbly will be a snccess, Prof, Wiicnell, of Symeusa University, will Il:r':" to-night. Subject: ** Voices from tho ockn, " SOUTHERN PENITENTIARY. The Grand Tower Selection Disapproveds ‘The Rewsonn Therefors Spectal Disputeh to The Tridune, Srmxorizin, 1, Aug. 23, ~The following de- cimon has been renched by the Boapd of lust resurt in the matter uf sclceting o site for the Sonthern Penitentisry: Senixariern, 1N, Aug, 22.—To the Honovable the Commieslonera of the Southern Penilentiary~ GEXTLEMEN: Your repurt of your aclection of o logality and mite for the Southern Iilinois I'enl- tentlary at tirnd Tower, in Jack-on County, have §n boen submitted (o the Governor, the Auditor of Public Accounts, and the Attorney-General, ng required by law, huw received our carefol coneld- eration, We have visited the pluce selected. Our cxperience In examinfue vie place anu welghing Its ndvantages und disadvantages gives us somo opportunity to understand and avpreciate the fabor you have performed, and the dlfli- culty .you have encountered in your efforts to select from all thore nanied and visited the place which mast nearly compileswith the requiree mentsof (e law, when peehuns In ihe fullest senso no one place dovs wo comply, In withhold- It vur approval and contrmation of Jour cliolco f0r tho resson glven bulow, wo act with great res luciance, because we feel thut you have given the subject much more thonght and conslderation than we have founl timo fo do. We gratefully nc- knowledze the kindness with which “you have ro- aponded to all o uliries, nnd ulacod at onr dis- woenl ult your sources of information. Wil the cridence s satiatactory that tirand Tower is not an nheaithy place, we do not believe that any loca- tion on bottom laud can vive the best sanitary cans ditlons for u class of residunts abrolutely debrirred ‘from change of air amd extended” outdoor exerclse. ‘Chisscema to be thu reason why the law wukea elevation one of the prerequlsites to be (l.\rllfllhrll constdered In nuking the location, Vo huve urrived at the concluzion that the condi- t'on of elevation fu tho senso in which it is used in the Jaw Is apsent at virund ‘Tower, Thero 1s o cone tics of evidence whether the particular spot select wd 18 ur s not entirely ubovo all dunger of vverfow by the hizh water of iho Miselwipt liiver, 'Tha k” pondcrance of evidence ls that it bove Lhe ighest wuter of which we have necurato record: but thers reowing room for upprebension thiar this placo inay at some tima he below higu water, ur that at the extreme hizh water it will va #0 nuurly overflowed ae to sertously inteefers with the drainage of a prison, The falfowinst consideration, also, we think should have some welght: 1o onler thag the Penl- tentiory may not be u nancial burden upon the Btuto, 1t wid necessary ttut 1t shonld b ao st ated au 1o vecuro the letting of the lsbor of the cunvicts upon the Moust advantugeons torme. 1l roximity, therefore, tusome great Lusincss cen= re lv dedmed an hmportunt conwideration, which we dowot thiak 14 udaquately et by tio Tucation named kn your roport, For (le feason we ars une ble to contirin the Jocatlon of the Southern L. hiols Pemtcatiary at Grand ‘towee, and cemit the wholo wngiact o your (uriler consideration. Very reupectiully your obediant seavants, 8, M. Cuirow, overnor, 1. Neenits, Auditor P. A, Jo Euwaty, Aitorney General, Until the Locating Comuissloners return it la {mporeibla to predict where the inutitution will nuw B0, Grafion siands the best chiauce, 1t i thouht, pruvided arran sements can be made for the struction of a railrosd thereto, but At ble the Locating Commntasion - her inspections betore tnal liler in that cunncetion poulnLe athern Penltentiary ocation ap- u cinto ailicer in pefus Giraud Tower, T proval full tion of e romsoue eet forih by the disap- stain the position of itk Tuibrse ani the otier § payers generally in oprosing tirand Tower, ‘'he” St Louls papers and steam- buit nen sud others which censured this oppoei- on re exercived over the refusal to condrmi. and telexruph their vexation to-nlght. ‘The chances of Alton tre regarded av Iuiproving, snd It 1s urged ae embracing all the tequisitos requirea by law, sod the proper plce fur the Penstentiary, — e — TELEGRAPHIC NOTES, CIMCINNATL Aug. 3, —Tle McCook monument in Washington Fark, in \uie city, was unveiled to« day, Spectal Dispatch to The Tribune, Srmnoristn, D, Aug. 23.-Too Springfeld Divisiou of the Ulio & Misslasippl Rallroad, like the muin hoe, will cummence dojug thelr own ex- press business bept. 1. The American now ruus o this divisi 7 53, —It. P, Gozglo, formerly Cole Customs 83 this port, was oifered the Lieputy Collectoralip at, 5k, Alavka, Lut dechin. ed Thy pluce baye'B1,500 "suld. 'Special Jispaich o The Tridume. Lasarne, U, Aug. 23, —There fu o strong prob. utne operations, io-day, There was o poud steudsuce, apd G, A, Cotfruth, ilton. of Toledo, delivered the snuual addre banquet Wi held merican House to-| ————— MASONIC, CLeveLsxn, O.. Auvg. 3. Crvasgrer, procewlon will take place on Tueaday, Aug. 28, Triuwpbal srches are belug erected fn differe t parte of thocity and bundomely decirated. The Divsrawue, de pablished for the procesalon, fn- Uludew thirteen Divieions and sevenicen bauds of bive beeu rented Lutire, and Gtled up by the Communderies. from music, Mauy large buildy dluvrent citles for tue accommodation of thiu- acives and fricuds. Ohio Implacables Announce | faam’ oration we o Lo umite witly us I the condemnation of a | mosce) fed T L e e emry Delieves. 0T ARAAIRCA, Y | o e e e e b poaple, and tho adie Thio eonle of the Nurth, will render the lute Cone sitational amendmenta valucless, dinfranciiise | payable in greenback 500,000 Somthern votere, and Anaily endangee the | Hr{nat tace: libesties, of iho wholo neople, bolty Norty anl | o o paseed, omthe he ‘most. valued of iha principive for | Gior Tndiam lepuliican Co f o oA et tagep | oy fndlana, Tiilndle, Jowa, acd Michiosn il Yorth In the clanee of the Constitation which e« clates that o Protection of (e liwe. For slxtcen years the Ite- publican party of Ol For thie it feapta went 10 battle, 1o prison, and | Renublican. Conzrees ‘b o et For Wamlionsof money’ were expemis | Snetily W van Uecared and thousands af lives pacrificed. We are nuw | eoin. This sing) e R0 000, A O e Ot atia il M| e Jhinsingle st ddded SALUID.000 10 dl dorsing We point you to the fact that Herodsed ron Tat: to every consderation ol gratitude, humanity, | contracted honor, and ofticial obllgstion, a8 weil 88 political | deviation nor ceseation. ~This canfeascdly adds principle, and basiven the snubortof blsgreat oitice | vafue to money, and subsiracts yalno from cvery- to deprivo Amerlcan citizens of thele ancred righte, | thing clse, And deliver them, erushed and bumillated. into the |~ Siiver has been demonatized for the exprean prr- fitnda of merclless enemies, ‘The Indorsement of | pors of contracting the currency und increasing the el ol by the Beuublican varty 9t Otio1ea | value of gold. atul abandonment of & vital principie—is sulcide. | coin currcacy, ane nds wert » B aniteatty tho Imperatise dnty of cvery teue | fuvare, ) e incteased largoly man o uppose, and, if possible, averl, such'n ru- sult. There 1w upparently but une caurse left— that of withholding our vuten { upron the platform Which mdorec: or inany degree imuair thaold organiation h{ a new ticket in the fleld, It I« the ‘party In which | herof Commerce In overy city i Ohlo, ever. we have hoen enrolled for tienly {enm Its heart [ terprise denendent on latior and capital cumn(nml, and braln ato honest, Temporurl ostray, Thne and chastening will bring it back | effected fn 1870 withont utter ruin; snd 1o the vrinclple itmt o M compromiso himself by voting the Democratic tieket, for the plutform of that party, so faras th Sovtuern pelley of the Prestdent Is concerncd s o better, und, Indeed, no wol adopted by the Cleveland Couventlon, There aro | yalne of duty 14, defeata thiat sro victories, and there are victories | coint And yet the Secrotary of flie Treanury has thature defeats, A victory won ut the expendo of | within eixty days written a lelter to the syndlcate principle 1s saying th e opened the campaign In this city to-night with Gen, Thomaa Ewing aud the flon, George 1. Pen- | bhavo been withdrawn ol dicton as speakers. Tho night was warm and culrm‘a&ynnnvu lwcn‘hnuca.l th Dt stsi clear. With firesorks and bands of music s crowd faid they wero Incruasing the Interest-hehring of about 1,500 assembled fu the State-Houso debt, Mr, ‘Kherman rays that since May he has am ylai to Lo with you la-nighit. 1 did not como : - proparel to wake & apeech on (his occasion. After OIVEN TIE VICTORY TO TIE MONEY POWER, the address of the hunored gentleman whu has 1y, a8 | have endeavored to do In the pust, [ will no Inm.'nruc:llp{yuutllnw, but will glve wa iny fricod and know you aro ull angious to Thomas Ewing. 18 computed that there are three milliona of peopla | viclous potlcy which | ) 1 111 the country lale who would giadty work. Thoss | the repeal of the leaumption act, the restoration whaq threo of four years uxo recelved twound three | Of the old wiiver dulla ollara & day now vagerly nccept 50 cents. Al | frecnbacks, tho cossation o Iabor has been forced to subinit to reduced wages.” | (jovernuent, Isteatian, Jo st fault, we ought to apply the reme. | A4 dunts currency. Thls w dy. ‘This work conceens us all equally, Thereforo, Hocnk fopan Wepumiicans and Denodraty atinc, | aaf Sriteavs, I Tdo not couvince your judgment, 1 will not | thenr, wound your Just susceptibilitles. 1 criticise poli- clee, nut motives. ouio la a fortunate State. 1w soil is fertilo, ite climate | fcy. 18 bealthful, dte mines sre rich, its flavu!nuun lo { and within a year al o Puteburg & Fort Wayne, the Pittebiirg & 51, Louts. the Atinutle & Great (Westorn, tne Lake Shors | 3 eow: Rairoads, the intel trowm North to Suud eommunication. Nature, ability that Mo Phanlx Glase Company of this Gy, whose fallury was sunounced afew duye sluck, will be able to etects cumpromlse with ig crediforsun n baste of 50 cents On the dollur aud 12 CoLrsnes, V., Aug, 23.—The Que Hundred and Niuth 0., V. 'L beld ite aunual reurlon fu thi cliy JobuJ, sitcueil waw re-elected President: Caply MeCred, Vice-Presudent T, McAdams, Secretaryy L. J. K., Haus stensive prepars. tlous ary belng wade for the regeption and visit pest week of the Kuights Templar. The grind few which do are bullt on the Clyde and belong to furelgn owners, TNE FINANCIAL SYSTEM may be briefly atated, An fmmense pohlic Indebt sable in paper, las, by the effect of been made pavable 1n told only. and POLITICAL. . thereby been increased per cent. flver hae Their Hostility to Brem: Semongtlaoh, sud goll. he aly senalning Hayes. leual tender for (he bonds, i becn enhanced ac- Kesnmption of specle payment has been oxtained for January, 187, and within_eighteen montha they h 1, o illes Opening of the Democratic Cane | ciciubueks af (himpmaiie hording of e o A A ‘The first measure larsely increased the {ndehted- vass in Ohio at Co- meer, Tre second diminihed the currency in which that indebtedner can be paid. The fhird fumbus. eflectnally anid. neeessaniv destroya the Induetrien and energics by which the means of pay can be earncd. The Egyptian policy of requiring bricke, Speeches by Messrs, Ewing and Pen- ::;:. not_furnishing straw, was merey in compari- i) i o 1 #tate facts only, 1 pass fo: the presenta closer dleton on tho Finanocial Ques examination of tho effect of thero variona luves, tion, An Gblo andlence nnderstande them well, The Ereat eampalgn of 197" was fonsht upon these Inws, Thelr effcct wna forescen, cxamined, predicted with nnerring acenracy. The Keaunmpiion act was Tho Greenback Element Crope | analysed and 1ee farthest con<equences were points 5 edoiit. The demonetization of Miver was not then plng Out in Various Appreciated: it has only increased the momentnm Places. of the general movement, DENUSCIATION OF THR REPUNLICAN PARTY. Propheey han become accomplislied in history, and, this nizht, the 10,000 failures of the lnat A Maine Democratio Gubernatorial Cane | tweive monthe: the weary footsteps of the in- numerable multitnde secking work, the strikes of unpald laborers, the bloody and dfszracefal riote Inour citice, the ronda Glled with trampa and rtation-honses flled with homeless panpers, indict Il;v “envlh":nn policy as the canscof this condilion of nflnirs, didate Heralds fhe Political Millennium, He Indorses President Hayes' Policy Mr. Pondleton next proceeded fdk half an hotrto annlyre, misconstrue, And denounce the Ghlo He. and the Electoral Come puinfean platfarm, and to tand the elitterine gen. crnlities contained in the Democratic platforin, mission. 1e Ao pitched into the canitallsta richt vicoroualy, rcelng that he In one himeell, 1le devoted n grea By deal of thne to combating the plank i the Ohla 0110, Republican platform that advocated **Congres- ional intervention ta ancure * fale retuens on caple ANTI-LAYTS |n|’.‘ lnl; ‘wame ln,lmnr-. ruod mnlmnzemenl‘nl - rallroadat’ 8, he anrneil, was fn opoosition AYES, g to the Democratie doctrine of State richte. The AX ADDRESS PROM COLUMEUS, Ov crowded concition of onr colnmns oblige un to nb. Specinl Mepateh to The Trioune, Droviate the speech, Hle concluded na follows): Cotrynus, 0., Ang, 23.—~The Anti-llayes Ex- OREENDACKS AND BONDS, ceutivo Committes have jnst fasued an addrees, of The law nuthorizing tho iseus of preenbacks pro- which the following is s synopis: vided that whenever they were presented by ‘any i (3 : Tothe lopublicans of Ghlos Attex matur dellh T R S T I A ave decided that it ls onr duty 10 8¢k | vislon was repealed. (irechbacks depreciated fin- Was monapolized by the capltatista, The ive-twenily bunds were by Inw of their fsang orc can_be no question ‘Ihaddens Stevene asserted it when The Republican Conventlons of Senator Morton pproved it. Secrotary Sherman in his place in the Senate, ©ix years after the passage of the law, aeserted i1, The Clncinnatl i fGoazeste within two months has adnitted that it Tns upheld ihis doctrine, | yaver donbled that Interprotation of the law, Yet the law of 1800, y shonid be patd in tate stinll dony to any citizen eaual value of the bonda in the lands of the bondhold- Adminlstration which has descried it | ers, and added that inuch to the burdens nlready T, THE PRESIDENT IIAS PROVED RECREANT lie curreucy has been steadily and merclicssly Ta this policy thero han heen neithee Mijfous were” deducted frow tho THE_TIIREAT OF RESUMPTION In 187D hanizs like & pall over the country, snd shirouds every indnstry in mourninz. The banks mire contracting thelr lIsnues, the Treasury is cun- Tracting the greenbacks, the Secretary In foarding oll, Kvery lepublican paper in Ohio, the Cham- cne all who stand L WE DO NOT DESRE TO DIVIDE 1t bas been led | in all the Tand, declaro that resumption ennuot be Republican shouid yet the ney Power merclleasly, brutally, even ()n theso daya of anguish,™ demadds contraction and ro- mption, The law af 1870 declares that the bonda autbor. e by it shall Yo paid Ji coin of e staniard 1870, Coln! gold and_silver roe, (han that ey will be patd In wold, 1t prescribes the AN IRRETRIEVABLE DEFEAT, oblycatlon of the Government. The Secectary can Every conceivable falschood would he employed | not add to that obligation, The law’ eays to apnoy and injure, by the supplo tools who | the honds shall be pald in stiver awl fawn and seak for pow the varying hour,, Ui would be uatruo to our uwa manhood, false to our fonvictionn of duty, and recreant to o great | stond. [ think It was Intended tu be so under- priveiple,” iF we hesiected to denouyes the | stood; 1f the peanle do not wignally rebuke him, by ductrincs fastioncd to | guld. ~Tie Beceetary says they —will bo b o ues ceriin thut wo | panl In gold wnly, 1 know. uise he nees angage punrdedly, but his letter 14 so under- eachery of the Administration of Rutherferd 4 and repadiate thin effort, it wiil be claimed that 1. Hayes, or omitted to use all honorablo | tnu faith of the {Jovernment has been wledged by Ineans 10 procure its_condemnotlon, and at the | hiw, and tho Money ewer will achleve anatlier sane thme resent the innudt which the Clevetand | victory over labor. , Couventlon dvliberately dung in our faces, e, | Do not bo deccived, my fellow-citizens, Chusa Aherefore, nnfuel the standard of the Independont rmitted Jay Cooke to publiish thet the fAive-twen- uoy-ofiiccholding, non-ofll of Ohlo, und nrge all bonest uud tight for the old fuith of the party until a vila | law of 180D wus passcd. scoking Hepublicans | fles wero ‘payable fn com, snd thereupon it was un to 1atly aroand it | cisimed that the public falth was pledged, and the treachery is condemned and the right vindicated. 1 have rend with caro gt THE APEECI OF SECRETARY SITERMAN BISIIOP. at Mansficld, I spoeal to it Tor proof of every statement | have made, There fa not one ward OPBYING OF THE DEMOCRATIO CAMPAIGN. it in favor of the restoration of fll‘n 1!7(] ':I‘l\‘ell" ‘Spectal Diesatch to Tae Tribune. datlar, not ono word [ favor of tho remonctiza- 01, —Tha on of silver according to tno weak and water) Cotyxnus, O, Aug. :.—Tha Ohlo Democracy | Ly 5 the iepublican tons ention. 7 500,000 of preenbacks 90,000,000 of bank AMr, Sherman says §2: bonght 00U, 000 gold with bonds. Square, Tho meeling wan called to order by tho 1 sald they weore contacting grevnbacks and jo Ton, John G, Thompson, and Mr. Pendicton was Ua to restre thelt ciroua Soct Iutroduced, and wpoke st groat length, recelvin occaslonal applanes. At the canclusion of his | T3S LIRS AE 4 speecl, Gen, Ewlng was Introdnced. He, beinga | The banks bave Leen dilven by the (hreat Great favorite hers, was received with muchap. | Slreaumptlenty retain b plause. Ae saon s quiet wan restored, tho Gen- . sl nddreseed the mecting at considerable length, | Showing an actusl contraction within lem getting often appianded. He spuko with clear do- liveration and earnestuess. pelifng banka to retlre their circnlation, 3r. slierman says the by 1| L. e B e ettt TPt amagy ® Dv626000 ding clreulsiion. .. 44,450,000 Tequlre:d by Taw,.. 42,500,000 Ahat three yeand of... oaee oree 123, 574,000 Ueald they wero hoarding goid, Mr, Sherman saya that in’the Ivo muntha of Huyes' Admiuleteu- The meoting, as far a8 numbers are concerned, | fun they have accumulated In tho Treasury $ii, - cannot be called a saccess. Tho ominont speakers | 3310, 000 16 coin and erecubacks. | eaid the Money socxtensively advertised should have drawn to- FPower damanded -and would cosrce from tho le- publicann contraction and rexumption, Mr, Sher. gethier acveral times tho nuwmber present toenight, | man kays the retirement of the United States notes ‘At tno concluslon of Mr. Pendleton's wpecets, | should depond entirely on the amount necesnapr gy Joud calls wera made for Bishop, who was on the l»'e withirawn to ndvnlnce, within the limited thmo, e iorsy TATior ravsoAct callny Judue. Andesu | ESEC2IE0 f0 pur In cuir, 1 sl thie Money Power aruse, und in 8 few well-worded remarks fntro- : duced Mr. Tiahop as Ohfo's future Governor, Mr. | ithout chungo o the law, h Itishiop, on coming to the front of the olatform, | Hzed for re amption, elth was Joudly applauded. e spoke substantially as followss demanded tho sacrilice of every industrisl interest, Shermen saya if he fs lft undlsturbed. with or Wi, before the time by’ contraction or nce overy dollar (0 it par In gold. er can he, vught 1o bo, and will bo, ex- eculgd, nuluss repeale Thus bas the Kepub- licali party hoanting, ad **The FriLow-CirizeNs axp Prriow-Dexoonars: | ‘;k‘ml unl:u viclory ,\m r‘e.‘:umu‘;‘hu 3 Im uee the 1 strixing langunye of another: **There L no mill, t adarensed you, It would bo ueeless, but an [ oF ke, OF fari, of homa in tho how you all dudirs to sqo me aud know who 1 am, | {Fehom uF stul 1 appaur hofore you. | indorse the doctrine you land untvached by this dread cabmmity which mon haye Juat hieard, and the Democracy of Obo, 171 :Imnlll Le honured with the llnvcmurlhlx of Ohl. W call hard times, “Hundreds of millions of almost 2 | emwpotent dollare are foreed to pausein thelr faithfnl. | tracks b} the rago of a singlo clann of Isharers is exhausicd, Sovercien States ure frightenrd into an appeal 10 the Federal Government to tuke carg e Tves, araY &1 | of them, Commanwesiihs iremble with a counnoa OV near, Gen, | Blarm. ‘Commerce 18 mute aud movciess, " * And In the prescnco of thie great calamity will ‘\I_!o‘ll:uu“llc«flim uhmfiun ll’ld‘l‘e\:‘:-: this mrllc’\‘t Se— Notat all, They afiru thelr adlerence 1o it GEORGE I, PENDLETON, Bherman and n.'yu requlre that they shall enforce \PEECI ON TIE PINANCIAL QUESTION, it. and they call fur an army to prevent and punish v hirers, t The Hon, George 1L, Pendlcton wooke us follows: | Jirie = i o ek et i My FrLLow-Cimizexs: [apeak lo you to-afzht | porton provesty. tudcavor 1o serve You hinnestly an istinguished fu hecanee vur country sullers; because honest, in- ‘The Deaincrutic party proposes x emiploynieat In valn, aud thei ‘ll.:lr:l‘lfl:::xl:':;l e eaere Wectly sayns o1y | Tracing the pauperloms aud dicontent af the peo- TIM BXACT OPI0SITE OF THIS, ple, aud the prostration of ull proepeeity, ta the' have dercribied, |4 den the retention of helr contraction, and, aue of all eircalating medinm by the woking it ull a Jeval-tender, and 1 n a candid spirit, to search tho cause. | paper ana the cuin terconvertible ut par. This ther in ite Jegivlation or admin- | Whigive ue o atavlo rnlrenr{. A sound currency, 0 start pue wheels of Industry, give suils to our commierce, and labor to na'ly, the ‘I'is will Nift from our enterprise and enurgy the weight which has lone oppressod This will revive hope, renew mnhvnru. and, by removing tho uncertuinty ua to the future, stumulate, the activitios a0 long doruent. 1t wili nxl uul contrariwise to the llepublican pol. 11 bustnees will 1nstautly feel its bniluence, it» adoption 1wl ree lake, the | build the places which been wade waste fur \imore & Olio, the | ten years. 1 commend It to your thoughtful cousideratiol end 11 1o you, Iaborers, whose brave hear secting canala and rallroads | have asked niothing more far your independence bring all ite parts oty easy | (han ne moch work as your strong and willimg arms Iways bourtiful, bas | cundo, |nlel|chul. Tl thy Ll civen 1L an exceptiunably soundant hatvest. 1 commend it to you of the Workiugmen's partv, ¥ .'e'm:;r le::Eu-: nor pestilence hus visiled st And | the touudation of ‘whose theory is that ne capital yeu tne ramps; sne citles of vivience 3y tion-houses aod work-houses are dlled with poor snd hungry and miserable, as well as with eriunale; labor 1 hways wud oyways are Sled with | ehould ve hdle, but \hit it shiou) nd villages are tilled with deeds | Jabor. | comuend Jt W aib criotiand properly; the higheat st e thelr countr all comblue with Citizens, wnose elfare, | 4 discontented, aud tho discon- THOMAS EWING, tent utters vminons threuts, 1 occavionally SPEECH OX THE KESUMPIION LAW. twmpted to wickea deeds, lu A word, uien ure - = s Wiker \eomen ure safenng, chiliren ase Wungry,ail | Tho lou. Thomss Ewiog apoke vunstantially ss ure Bubuppy : UF thouetilee ure all deranged, bust- | follo " neas iw stapgnant, enterprise and energy wit with Frrrow-Citizese: We are met, alter one of the {o'den bands, Wnd all men 10ok wits auxlety for | wost eventful years fo the histary of ihe Awnurican that which shull cowe (o pave. | epeak of aTairs | peuplo. A lon political wteifa s liupylly enled {1 Ulio uecauee T know them, Tuiweak whatyou | fn the triumph of the Democratlc privciple of jucal Koow. 1 testily that which yon have scen. self-governwent; and snuther vqually pro NOw, WILY IS, Tilisl and miowentous struggle la now nearing its deck- Thers must be u cal W hat sive gay. comfurts us in this fuquiry. Tl Fur ten years past, {u violation of the Constitu- she ( the tantl, tho' comuicrcial system, thie | tion and of the -pledges vu which 1| tinancid eystem, —these touch the very hfe wnd | fought, the Kepublicun party beld severul geeat belugof the whole suclal sud_Induetnal fabric, | Staies ln wilitary subjection; fastencd on thew & ‘The Kepublican party blished snd admiu- | ruie of jznorsnce and vice; robucd them by futol- totered theew fawa uid o ems. It bus hud ') ersble devt and taxation; fomentod race and sece wer for balf a generstion, &u mincg the War | tionsl hatred, and preventedhic testuzution of that 1 bas biad sbeolute waay for twelve yesre. Ouce | free goverument sud fraterval fvelig, wilhout only tn ull thit time sy thero bech snadverse | whichtho War wers vaiu and 118 fruits but ushes. Huuse of Represenativce. 1t Lian used this power |~ Aud for ten years past, in vivlatioo of its duty witliout stint. 'The Internal itevenus syatems, oven | to tho greut peoplo whu Lore the heat und burde what bleft AL bears winost eutlrely aod very | of tho Wery instead of keeping our vast cobt at beavily Lpun Western toduatrics and the product | howo us & currenuy debt, and daving vur then of Weatern lunds, prosperous Icdustrice undizturbed by contraction Thu Larill iv an ill-adjusted tax. 1t produces sit+ | and furced resumption. It bas doubled tue public tle sevennas bs extreuiely uncrous on thuse who | burdea by fraudulentiy wakiug the grecubuck debt wiportand pay dutlcs: extorts larke suuridive for | 8 colu dvbi; vold the ounds abrosd. and made rivate nlerests from thoss who do not, aud vapy ws @ borrower, the scrvcat uf kurove, be prospenty of Tudurtey, even thoae 1t afs etized Wiiver at the demaund of feits Lo vrotect. cily u shin nulxates the veran under the tag ofBae Luitet®Ytutes, and thy | the 'reasury, of B131,030,820, ° This apie by o seheme of ol resamution, wwhich I \ine the land with tankrnptey, and the heartn of the laboring masses sith despnir, o that thie great, yaune, reaonrceful people, smitten on the one side with tocal mixzavernnent and tace feude, and on the other with industeial distress and paralysls, crouched down, like Ftron asa Tusachar, betw een the fwo bardend whicly the carpet-bagyers and the nsurers laaded on them. THE RESUMPTION LAW TNR GREAT 188GE. The Gold Resumption law towers abare a1l oth- ern e the Issne of this cnnvass, The ltepublican party |8 nolely reaponsible for it, and irravecably committed to {14 enforcement. 11 enscted that law by a atrict party vote: it stooid by it thonghont the Tast Congress In polld phalanx: fte Prexident declared acainst nny repeal or - amendment, and putata author in the “Treaeury to execnte 1t W now senids him to Ohlo—illnstrating by exception the vaunted rute of Clvll-Servico reform—to hido the hideonn featnres of the lnw from the neople whose happineas and Industries it is destroying. My, Sherman boldly says, at Maneficld, that the iaw Sscan, should, and will be erecuted ™ ! whito the sitence of the Clevelan platform on thls Re- nbllenn menanfe only adds the vice of cowardice o the crime of nactment and exeentlon, On the other hand, the Democratic party I8 clear. 1y and fully committed agninet the law. [tepeated- v, in the ‘last Congrens, it voted forita uncondi. tional repeal: it pasacd throngh the Houae a hill steiking out the most pernlcioas acctlon, wiich bill Mr, Skerman smothered In the Senate, And one Ohlo platform this year, as last, declared for tho repenl of thewhole” law—not its amendment, but 118 ntter and abeolute repenl, This Iaw, involving as it does the early and total deateuction of the greeghack crerency, and the Inrger part of the Natlonal-Bank carrency, ia the fole cause of tho unparalicled distress” which aMicts all—employers and employed alike— who nre engaged in industeial pursuita, To no other ndequate canso can the trouble be attrlbuted, Our people have been blessed iwith health and cace—have had good crops, and, cerfain. y, for four yenra past, have practiced a rigid ceonomy—onr. cxporis have steadily inerensed, and aur imports steadily diminished, © Why stonld ench succeasivo month bring fresh and greater diss Aster? What other adequuie cause in operating with accelerating power to_drive milllons of wage Inahorers Into idlene<s and ;munerlnn. and to dray into bankruptey the moet of those whose means aro engaged in Indusrial pursuits, leaving none to stund but the wealthicst and atrongestt THE PANIC KOT TIIE OCCASION OF OUR TROUDLE. We are told that the panle of 187! Ia partislly the canso of our troubles. 1 answor that it long sinco censed to affect us, Unlike all othor revulsions, It had noorlgin I tho characterof the cnrrency, which waq increased In_value In public e<timation by tho panle, instead of belng Iinpusred or destroyed by it. Jis effect was belef, and wnn limited ton fow crdut insolvent corvurationaand firms, and to a comparatively small number of individuals in- volved jn their affairs, Formernanic, on the vth. er hanil, affect a% they dil the current money of the people, wercMar moto gencral and protracted in their bad cla., ‘The country wns rapidly and obvioualy recover- Ing from the panle of 1873, when, on the 14ih of Januaty, 1875, the Resumbtion faw was enacted, 1f the panic were tha caune of our present Indus trlal distress, the year 1874 would have whown more businena fallures thun the years following. But the record of commercial fallures —that barom- eler of tho natlon's business—~shows falling oif of bankruptcies from S2U4, 000, 000 In 187, the yuar of tha panie, to $155, 000, 100 n 1874, rising nsdin to 8200, 000,000 in the year following the passuee of the Htesumption law, and keeplog up that cnor. mous rate ever since, Aml the number of bank- rupteica roca from 5, 830 in 1874 to 7,740 in 1875, and o 0,002 In 1871, and to the rate of B,408 for tho firat half of IN77—showing that it Is the polsun of the itesumption act, and uot the punic, whichis operating with increaning power, and’ reacling decper into the hives of industry. CONTRACTION PO KRSUMPTION THE 801D CAUNE, Dut; fellow-citizens, whoovor would seck the eaute of-the troublos of (u-tay necd ouly examina e Hentimption luw Itxelf 10 the light of ludlaput- able fucta which control Ita_oporation and effect, In the campalyn of . 1836, before that law was dry on the statuta booka, I jredicted ita effeews, and warned the people of Ohio that by fudarsing tho Ttenublican party, sith it fixed poficy of resunip- tion, they would 'plunge Iuto niter ruln every in. terest worth presseving, That prediction was de- nounced and ridiculed then by the Htevablican preen and leaders, bit. untupplly for tho ponple, {8 now bemy rapidiy fuliilled. -~ Let mo beg my Re- publican friends G0 hest again a stutemunt of the Heaign and chamctor of the law, (he mischiof it lias alrcady done, nd tho tenfold greater mis- chlef which will surely sitend 1ta comploto execn- tion. Al of you, no donbt, underatand that when the buslness of the country is adjusted toa given voi- ume of currenry, no largo contracifon can occur witliout great iujury to the mase of Lho people, A decrense of the volume of the currency beneilts ail who have fixed Incomes, whether from. rents, in- tereat, or salarics, of whone wenlth b In money or money securitles, for It increnscs the purchasing pawer of every dollar thoy conteol; while It injurce all deitors and taxpayers’ by compelling thein to give for each dollar of debta or taxves paid, ¥o mach wnore of Iabor o products in payment, Now, who ara the debtors who suifer by loworing the prices uf Iabar and |La producty, snd Increasig tho purchasing power of maney? o the cxteut o his taxes, everybudy ls & debtor. Bt who are tho anwwer, ulmost every bsines Nine-tentls of tho bnamens of the countey Is conducted, in whole of In part, on borrowed capital; niug-tentha of tho vigorous, energetlo men, neeking o rivo from poverty to competence, ara debiors; aud nine-tenths of thd wage-laburers are dependent tor employment on individuals and corporations whu conduct thelr Lusiness, fu wholo of i part, on bur- rowed money. g Now thero la paid each year as taxcs, Natioval, State, and local, sbout 870,000, 0005 and any aps preciable Jucrease In the valug of the dollar, and consequent decr in the price of labor or fia products, operutes s an enorinous incubus on the inuns of tho peoplo considered only an taxpnyers, imo of money tringency thronghont tne ‘FITURE CONTRACTION NY TIE LAY, Andwhat further destruction of onr paper enr- reney fin<t we expect after rean ption-day? On momentana question the Secretary of tha ey, he anthor of the law, the acknowled:ed the Ginanen nolicy of the Itepublican arty, ousht to be nble to speak with confidence, ** from liayes to come to cunpaizn for the ltepnbiican mption_questlon. that the business, the property, the comfort, n vs8 of the manses depend vn the queation tho exrention of that Jaw will insolve a furihier latze contenctlon of the eneroncy. here 19 all ho could ray fast Friday ot Mansfleld to catm their fears and ‘rennimate their hope: certaln amount_ of e gnt a ** dispeneation Ol and open 'th party on this e d Staten nolea can be, end ought to be, maintained al par wilh coin.” Tt at what does he extimate that certain amonnt? At ten milliona—iifty—nn_hondred—threo hane dredr 1o does not may, Pradent Mr. Shermant mlluvu your, *‘cortaln amonnt™ o very uncers n. The.obvions fact fs, that each legal-tenider note, order on the Freasiry for Whaover wanta gold to pay d anrond, to hoard, to eollect as re. tlon of hank-notes, has only to send ercenbackn to ‘The greenbacks will then be_destroyed, and the gold sent aliraad ar hoarded foe redemntion and for customs, dollar of greenbacke, to redeem which the Tre: ury can rake and seraps enongh gold, wil! be fort! wi'h redecmied and deatroyed; and withina aumption. 1 venture to predict, Str, certainamonnt* of greenbacka mainl calation will bo but 1ittle leas than what has been fost oF destroyed In tho fifteen yeurs sinca Weo wiil then havo lost our kreentmek currency and have only a gold bonded debt abrond to represent it, Iecollect, feilow-citizens, that *‘redesm,’ in this Jaw, means 10 pay and desiroy, as the Governs ment destroys a howlt when redecmed, and as it every day destrogs fractionnl currency cd " under the sime language of tne same law, releane of n greenback redeemed under this 1aw 18 clearly not_permiticd, as Mr, Sherman § in debate when the law in his Manafield speee! after dan, 1, 18 ve fur redenip- the Troasury and getit. their Insno began. ascdd, s a9 e intimatca in complaining Usat he (2 1o fudd the greenbacks airectly in bondw,—s0 that every i ** redeomed ™ goos forever out of existeuce aa money. ¢ Hut we ehall then have a gola currency Instead of greenbacke,” sny the resumpf None of the gold whil be in The banks must have it toredeem their noter. even If they buy It ata premium, worters nitst havo it 0 pay dutiessand, above sl trope st have It in payment of {nterest on the 9 we owe her. RESUMPTION KECESSARILY UMEAT CONTRACTION. 1do not understand how any s knowa how amull reut onir debt and oxpend! jeve for a moment that we cankeep potd In general circulation here, or can even auvard and holilenough ant of circulation, asa redemption fund ,sulliclent to luat u fourth of our preseut pa: Look at tlio faciat We pay nbro: Government and other bouds, {1 Wo pay to forenn alips, which eaery more than two-tnirds of our foreign commerce, abnf 370,000,000, of which at least two-thirds abrond; nnd our wealthy veople {rave rope expend there not less than S5 Ltake the average of several eneral chionls- 1 pply of coln, and how tures abroad, an lnterent on 3110, 000, 000 n 00, 000 annually. eatimates which show thia an 000,000 annunlly; un from foreizu travel and AU Teft the sum of over $u abrond on an _inesoral though wo owed a debt of Europe, with interest at 4 per ccnt, puysblo sn- of this fact is the fatal blnn- der ur wrong of tho resumptionists, ‘Tho balance of teade {n our favor has never, aled this forelen draln, and for the past six rs hns averazed only one-tenta of<it, or about F0 000, 000 unmunllys "There has never bieen a year since this debt and cxpenditure abroad was catablished when it was ot yadd 1 whale or In purt by coln shiuments, Increasing the debt by miles of new bunds thus, making the forehen demnnd Jarger jure piermanent. fn mecting this_anusial aince the War, of gold and ,allver Inrgely more than the whole colned product of uur ines, aaded all porls to these metals: and 80 reduced our supply of the precions motals that wa are nuw extimated 10 Iiave in thin conntry only about S150, 01, 600 to 175,000,000 of gold” and’ silver con 85,000, 000 in 1800, ¢ not enwlaved by forelgn debt. and were adding to our stock of thy never could keep put over for debts and Joas than S233, received by igrutiun, thero 13 00, 000, 000 grulng 85, 000, 00N, 00U In nunily thre in gold, Now, the ignonng n any one vear, Hefora the W 000,000 of bauk hanks and Government do It wow, withles ntry, and a foreign de- gold snd silver in_the col ‘mand for 1t which is incessant, increasing, and which cannot be ignored without natlonsl [nsulv- ency? "¥o power of & nation to malntain a paver cors reacy sullclent for iLs busine in coin, is necessarlly dependent on two condi- First—TAe amount of coln in the country, This wst be greatly larger than the amonnt of paper currency, becaude he atatistics of the chief na. tlona sliow that but o amall proportion of the coin it n conntry —less thuu ono-fourti—ean be con- trolled by the banks or the Government as o ro- ‘Thus Great Britain, with scven ‘hundred milllons of dollars In tho countey, only maintale a redeemable bauk clrcolation of aboat two hundred and Afty miblio with twelve hundred mitilons of according to Victor Buninolt in the Revue ded Deur Moaden), hun not vet felt. herself able to resume on six hundred mtltions of paper, though It has been for years at par with gold. 2ens, neurly all of you no doubt recollect what wort of u redomntion we had before the War, with twenty-tive milllo demption fund, And, feilow-eiti- two hundred and and two hundred and edzbty-five nillions of com ‘Then, too, the currency debts of ‘individnals snd wrivate corporations smount to not less thun €4, - 000, ), 0003 and any large Increaso of the vania of tho dollur and deereaso of tie price of labor anid products. with which such debta sre paid, is a yast addition to these debts, If the change of values be larce It moat result fn_ general bankruptey,— bankruplcy of the Nation, States, counlles, anid citles,—because. tho peaply can not bear the ncreasing burden of tuxes; bankruptcy wanufactucers, merchants, {rades ge men, dccompanted by forced Idle- nesaand atarvation of thosu who look to daily wages for dutly bread, Now the present unhappy condition of onr Induas trial clasees I8 procisely that which ncvitably fol- lows stdden and large contruction of Lhe currency, “The symptoms sl point to (hat cause a8 dl-xlnn{ #s the extreme depression, vomlting, and burning ain in a patient poinis to the duso of arsenic i iin stomach, And I will show 1hat the fatal dranght of rosumption has czuscd contraction enough la sccuunt for all the woes wo ur, and invulves a further contraction large enough to ut- terly kill our indpatriea, CONTHACTION ACCOMPLISHIED BY TIE LAW, * When tho Resumption law piterodd wo liud about $700, 000,000 of paper curreucy, which added 1o our coin (though /Aal was not in elreulation), gave uv por capits 315,349, excluding bank rescrves, France haa §15 of uctual cirenlation, exchusive of such reserves: England 324, 28, and Gerinuny 320, 80 Lefore demunctizution of her miver, aml” 2, 012 afier that demunctization. It s prepostzrous (o suy that our clrculstion was excessivo In view of the conditlon of those conwrvative nativns, over whoee petty areas, covered by ncts of railways and telegraphs, exchanges are eflccted with ten imes greater average speed thanover onr widely- extended d lurgely-undeveloped domain, Unr currency certainly not bryond the then exiate fng wunts of trade.” President Orant, with the suniction of Bils Cabinet, In bis mesrage in lecem. ber,, 1873, reprevynied It an insulicient; snd both es 0f a Kepy n Congresw, Gen, Garfield leadinz off in the House, panscd a il to increase {t, which Grant, having meentime succnmbed to tie bulliunists, vetoed, “I'he ltesumption law was passed with the general beliel that it would reanit in an increase of tho va. e carreney. But how hias It vpurated so fart it lm already cansed un actus! and permanent con. ra un, ue follows: by douriction of ureonbacks Jaa, 14, 1473, to Aug. 1, 1677 . . $22.811,182.00 . by éunccilutio ot buifk-Baies i, Vi 1o (0 AUK. ) 1677 . 86,004, 812.00 Dbachs suriemiored 10 edean ‘caneal bauk- uules, But yet aciully + $T. NG, These fgurcs are thoso of Mr, Sherman's Sluns- field specen, except tho laat ftem, wihich ho vmits, doubtlesy, bfeause the cancellation § Ills accomplistied, To this may he added ¥57,- 170,000 beld aa private deooelts, alnost all of Aehich witl probably be kupt hourded 1 the Treavucy awalupg payment and cancellation. "Thus weiazo un efectual contraction, ue shoun by the books nf 'his is exe cluslvs of any part of the 44,000,000 of “rcoly and currency™ which Mr, ~Sberman tatinuten he haw secomulated fu execution of lhe esumption Jaw. 1o dues oot tell what part of 1t 1-tenders, nor explain by what authorlty of w he o boardfog paper currency for resumption. Adl 1o this Jarge sum the 100,000,000 whick is estimated Ly theCincinnutl Gazef(e to be vlscwhere huarded, — boarded solely becauno business is paras Iyzed, credit stopped, and enterprise become pers wiclous under ths accumulating dissstere threate coed or accomplished by forced contructlon, —and we have, us Lo work of the Br-t ulucteen monthe of preparation for rovumiption, AB Sctual destruce tlon of ne-teoth of our currency, uand & with- drawal from lusiucss of Awurly one-third of It, **1f theae thinge Lo done fu the grecn teee, what will bodune 1 the dry?* Au equil deetruction and hoarding will give us by resimption-diy sn actnal aestractfon of » Gfth 6f our cur leavu In uciual circulation but little over on of tho currency we had atlust when the coutraction screw was put ju operation. But Mr. Sheeman suys the byuk surrenders of clreulation were not made under the Hesumption law, but under s former law. ‘Urue, Lut )t le the tbreat of resumption, and that only, whichis oy in the bunk circulation. Mr. Sherian, in Lis spéech in the Senste ou the 1ith December, 1843, fu opposition to Slorton's bUL for reswiption of l':tt‘n? Lm{luenll. waid: ' *All blatorical precedents sbow that friug the day for resumplion inesitubly Jed to a contraction Of the currency vy the bLanks. . . . snd the process of contructivn pruduced the sorest distres, Qur banks know Vst ufter resumption-day tbey can't keep obes third of the present Yolume of bauk puper siloat redecmable ingold, Hence the bunks, vevecialiy oto 1 taee remoto { e coutres wheto Kol accuus Lute forcseein thy davrer und bidiug the selves. They woult all vaituutil nesr ihe £ T sumptiou-dsy to witudraw heir currency: b many of thew have further wotives for early witl drawul m tbe desire (o realize the prewiuia va thoir bocds, usd W luctvasu tlels cash oacts 12 in the country, Our binks ncver could hald, to redecm heir paper, over elihty-ihree millios it never could hold day when it was geas ed, d—Tho other conditlon to succesaful re- samption is the power to keep coln i the counts All commieccial ustions Which owe very largel aliroad alwaye have suspended, miat snepend, specle payments, because they can’t the_ coun needed for redemption of " paper “Now, tno Unlted States owes and expends ‘at lenat Gve timed an much as auy othor na- ton on enrth, and sru lerat of ail ablu o muintain ‘When our industries shall have prospers wlien our and of neceasity spacie payments, been permitted to revive and reat forcign debt shall have been anade & homo Chts Whith DUF OWN Yessulh CATEY OUE OWN £OuY, —which will not bappen Gl the usurer's geip la looscd fram the theoat of the people Ly of the people, —we can agaln accumulaie and hold i, and not il the becotme poselble without overwhelming uisaster. BIERMAN'S FPREE BANKING." & Mr. Sherian, In his late spocch, cites the fact that under Srea banklng the bank cucrency bud proof that wa uced Tess currency e rediietion W sulely dus to tha Mesumption Jaw, us he knows full well, punlc and before the paseaze of that law Lank curs rency steadily incrensed. ronumption will dimlbinhed, ua than we have, Freo Lankimg wus then y the Hesumption law, but acconts pauled with the provision for the destruction of kol redemption—thus making ct redeem 1 goll. afler Juiy Ay ulne-tentha of them know they can't wian no fhicrease of ban! der that sort of ** free banking, retern und Southern nan| tluue to surrender Inolr cire Of couro oW tesiies Lo contined to bunks in o whero ail the gold which can be try will Todge, aud where atong bauk clecuiation will oe muintainsole, couree the great money intercals iu Ihe Edstern clties will endenvor to iake the people uf the West und Soutl oelieve that the contraciion of bank Issues and the hoarding of money for redemption— duv svlely o the depresslon and distucoincs of business consequent on that contraction—iv evi- dence that monay isln excess of the wants of trade, arty bigutiy s not stll} stroug envugtito hlind the pavple 1o th fack that it té forced polit resumption, and ehat alono, which is contructing the currency by surrender und oy and that its design 18 1o give the Eastern ngs the complel airies by cen waverelyn power of d nation’s carrency. TIE OUIECT OF FORC 'The preat woney no the greenbacke b the Lanks 1o el ul it fe all gouo, fmpneting centres Hut 1 hope tuat | of uur wealth 2 in them the exclusive g the smount of the D RESUMPTION, —1ne wort legucy of the d, by this schume of foceed resumntion, 2k gold 1he sote messure und p3yer of devls, ic und privetes to incresso the bonded debt vy to coucentinte b o faw ¥ contres avsolute control Overthe volume aptl movements of the currency, 0 u2 {0 wakae hard tinies und good thnes &b their pleasure, and futten ou the unwary multitude ut u uf the Lide: to coniruct Lhe currency for the next few years to thenmallest possibie medsire a0 thut the (welve billious of doliars the pouple How uwe will buy twenty-fourar tlirty. i former values of the people’s labor and pro- il ont the wyrlad of smaller ine etofure successiully malntained by cone The energy and talent of men of smull meons b munuy Borruowed of uunproducer; to cons of deotors, and bring it er hande; W pauy o that theuoney power will enaluve, t, With 1o further cost than etough wuges te wachiue of laborer's budy tn good working vzders sud dpally, by wmcans of the ime meuse concentration of wealth banda of (ew, to realize thy palicy of th Fedvralists, wh.ch s stronger wince the W f making this Governweut » strong, Tunding the gresbacks great banks tu the u Givcate the real propert | AMERICAN RESUMPTION COMPARED, Wboever huzs the hupo that Wo cut pase through reed reouuiption, worse dlau Encland did, se wofully inistaken. o3 propared 10F resuinpion 1o which her she fuenace of The prewiurs ou xo per_cent: with us it was 8 per 11 Lield at howe; half of oure'ls Al the world paid ' tnibute to ber nanufacturivs Aid her COMUIERES: Wo puy au on- Bual tribute 10 forcign shipbluz, 10 foretgn w : 1 idery, oud 1o for 0 one-fourth of t| showas equsl m the sy r nct subual jucreass of nichin gold und milver the reason of the wmultitude of tho wates of her uted hier buaitiess el oe that the gold premium whiel cut would be’ thy luvasure uf tha contraction Of Vs puper currency aud feduse Sherwan ussbred v reach resamntinn her en reucy contracted ovar 40 pre cent, hnsines K7 per cent, and every slue un the 1s] ier o1 faned, Iabor, uf product, way roduecd I price nhont one- tinn hus, in fact, cansed the 213 per cent reduction on gald, 1t haa aixo eanseid a reduction by cancella- Uon aml by hoarding of at lenst a thied of onr ps currency, and n ehrin'aue of from 20 (0£0 per ernt in the valuo of land, Javor, and producia. Eow wmich g r redaction in currency and in al) saloes may we expect fo_overcoma {fin remaining two-thirda of the gold premium? 1f we were uy well prepsted for resnmption e Enwiand was, wo mieht leatn from the pages of Allinon, Donbieday, Martineau, and other chronlclera of that most calamitous porlod of Diritikh history what to ex. peet. Butn oitr Atate of utier unpreparednes: wa ean only know that the self-inflicted caiomities wiil be immeasurablo, 2 A WORD OF WARNING, ‘The moneyed men, who are driving this car of Jugeernant over the people, seem atrnck with Ju. dicia) bilndness. They hold 3,000,600, (00 or £1,000,000, 001 of our natlvnal, Niate, cnunty, and city ecenrities, —all degendent on (he will and the resonices of the peopl® We now pay, and for a Tong tine have paid, ahout S750.000,000 o year in tases, That 14 317,560 for each wuan. woman, and child In the Cnited States,—nearly twico as mucn »8 ia pald hy any other nation. T:ve zllrlu-h my £ 10 our remimp. $11.00 per head in taxer; the Frenel 1415 the Uermane, 201,215 the Austrinne, 87, It frpere fecily: ovious that our peoolo ‘cannot bear tils great barden unicss pgencral prospenty e soon _restared, Bot If onr industries .arg to Lo sl farther eripnled BN de. slrayed,—if past accomulations must he eaten up {n enforced fdlencus,—if men nust be driven to **borrow nmncr for the King's tributs on thelr landa and thele vineynrds, and send thele rona und danghters to be serviants,*' a large part of thene burdens will be violently cast o, And it that unhuppy._day should come, then remember, Measen, Handholders and Gonl Stesumptionixts, that It was your arrogance and greed which led to repudiation, just aa the pride of the slave power abolished slavery. TIE OLD SILVER DOLLAR. 3 Sitver was demonctized In the United Btates in 187}, at the fnstance and for the benedt of Eorn. pean’ money kings, ‘Ther saw tnat In the pait twenty years the world's product of goli had falien oif onashal and _the prodnet of sl ver had ddouble and knew - that therefore gold would o largely - o value, and silver full. _ llence they wanted to thave the United Elates, and other nationa whoes bonds they hiel to demonetizo silver, and pay their bunda in gold, After they had steicked stown stiver in Germany they rent e, Erncst ¥eyd 16 the Unlted States, Soil had oue Congress. ile- monelize it 8l=0. Both parties in Conzress wero hoodwinked into dolng It. When the Democauty discovered the wrong, tney endeavorsl (0 correct it, and paseed a bill through the House tu resto; the old-silver dollae to its immetnorial power us legul tender for all debts whatenever, ~Mr. Sher. mandefeated action on the bill in the Senate, and the measure wil come up a5 ono of the mostim- portut queetlons in the now Conreds. Amerlcan wage-men need no Fedseal class-legts Tation. Queations of rumpensation betwaen them and thefr'employers they are gquite able to fetlis without the fntermeddiing of Inbor bureans, which Judge West scemed ” juchined (o recomn. mend at Clgveland,—doubtless from s recollection _ of " tne’ Clapoy | rossite | of the Freedmen's Dureau, with its stteadant eavings bank. Workingmen have suffered, and are suifering, Incommon with aliindustrial classes, chielly from a dishonest management of cur dedt and currency exclusively In tho interest of the moncy puwer. “Chat wroni must_be righied aa far ax possinle by the repoal of the Iesumption law; by the (1l remonetization and unlimited coinags of the old miver dollar: by the substitution of “Freasncy notes for bank ncl by hrinZing the gold dollar down and the sflver dollar up theush wakine them equally by law, us they are by cou- tract, payable for prlnalrn and intcrest of the whole public debt; und, finally, by Keepiny the preenbacks st pae with botl colns by making thew, oqualiy with coin, payablo for cus loms, TIIE SENATORSHIP, BECRETARY SHERMAN A CANDIDATE. Fpecial Dipatch to The Tribune, Wasmixatoy, D. C,, Ang. 2. —Qentlemen who have Juet come from Ohlo, and who are well la- formed of the political situation therc, say that there is no douht that, it theRepublicans carry th State, Sectetary Sherman will come ont ne #n avowed candidate for the Senfllm‘lllzy Yot against Stanley Mattnews and Gen. Garfleld In view of the faci, too, that the Governor of that State In deprived of many of the prerosatives hes Ionging to Governors of uthier States, there Is s mantieat disponition In both ‘luarl!nn 10 puy more atiention to the Jegislative districts than’ to tog {zenorat Blate ticket. ELSEWHERE. MALN . A TRETTT BQUARE XORT OF DEMOCRAT. Auausta, Me,, Auz, 25, —A Jetter of the Ton J. U, Willlams, accepting the Democratic nomins- tion for Governor of Muine, contalnsthe following 1n relatlon to the resolutions adopted by the Nomie nating Convention: ** Conrhierlng the recond res- olution, 1 nowhers nd bn it any impeachment of s Prealdent’s title to the highoMce which he now occunles, aud I bave no dificulty in according toft my full concurrence. That title, thouch stoutly contented, wan recognized and’beeame valld by the declalon of a trivnnal which acted under the aue thority of the Taw to which oll parties andall Stales, throngh thelr Séunators and Iteprexentas tivea In tonzress, had given thelr deltherats ussent. The fraud charged by that referred, as T understood from the lnuzun: o Lranxactions which took place in the dischuryy of the functions of the toturning Hoards of Lows- fana and ather States, 1llexnl and fraudulent acé within the competency of those Ktates respectively to dend with, but which, In the view taken by the Electoral-Commisslon, might have occurred as% leved and yet o beyond tho range of thelr juris diction. 'The thizd resulution condrina mv under- ntandimye of the scope aud intont of e sccond 59 above expressed, contalning, aa It does, reconl tion of the wisiom of the Prexident’s Sontum poliey, whiich, in turn, s an_admincdon on bis pare of the sonndnees of the doctrincs of thu Dea- Ocratic purty upon that subject, ‘The entirc series of resvlutious, therefore, hus my uoqualified ep pray ILLINOIS. * JUSTICE TO THE HON. WILLIAS LATIIROP. To the Kaudr o) ‘Ihe Tribune. Rockronp, Auf. 22.—Lver dince tha olectlon of Rtepresentativo Lathrop in this district attempts have been made by Intarested partics, eapecially in Kana County, to make It Appear that as Uooe gressman he has falled to ca ry out aud malnisfa thoso princinlea of Clvil-Service refuru on whied he was nominated and elected, Iere, where 3t Lathrop lives, it Is known that Lo has for yeart beon an cnthuslnst on tald point, and Las rincd s clection strenuously, amid tremcudous pres sure, resolutely actea on these principles, and any correction of these innuendoes and charges lsuae necevuary, Dot it may be otherwine waere S L. fs not 80 woll known. 1, thesofore, sk you 10 be kind enough Lo glve this carrection tho bane« Ot of your largo clrculation. Inthe Aurora Zisacon of this date appesrs ib8 following: . o th Tachells Reglabir, *T: 0 I AR 0 West Paltd i, 0 by Wil 1, Alfalre, of i L Illlc\l lynaw fo ne—thus ir, Latlifog il prevty Burly o 0 8 youy iman of ‘bulvhicee IIXI-:'LI 10 Wu extrace ?flllfl"lll letter 2 lulld‘l: *Vour, o tiie Mou. 5. A, Ml orzablaed 3 Ioard for & compstitive examination In e ol o who deal inu nd Adai ur 2 Kradyate of onr Who Wis Lhon worklilg l'\J‘ 1 Earplier trade, autordd tie 106 aud ey g s culiy mmlhill Mo raduated s West Pl ‘:ln‘ honots, 80 esves eunvy o be tillel. i i Willlsm Jurgetting Tur Loe mutiedt b et 10 TCtvils prluciples Kave thie apboin youK piau io Bel liere wou tailed 10 jasd ¢xemination, Sir. Laihrop Uik wiade urr, for 3 compeiitive éxamiuatlou W by heid at & Theaninius of this 18 apparent, oa ls also it Te pubticativn ln the Yeucon, It fe nu uitempl 0 make 1t appear that 3lr. Lathrop rocomwended 3 pet of his own for the Cadetship befurs orderlng & competitivo sxaminotion. Tuls ls wnnu{ untrue, wx § happen to know, The facts are aa follow One yeurago, Gen, 8, A Huribut, lllul,.llfl:; reaeniative 1i Congress from tius dutelct, 0885 the appolutinent 10 3 young man i belvidere » relative of Mr, Wik ', Ghlusun, 208 Col, L. . Gilwan, Deputy U e Stafes Marelal With it © BpRORE ment Mr. Lathrop had molbiug WIS to do, was noi consulied, and knew nothing 8boLs Last wouth, July 16, Nr. thm\. ceched "r ten notice from tie 'Department that Whikt (0 Gilmun had faifed to puss t uired esam! s tion, and requesting biu 10 destgmule unoitet co didate, T4 very west day, st Mre Lathrob’s G0 quest, Judge Batley, of thits ciiy, publizled & C ter oppointing the compelitive examination iy ;f":l‘le.‘i. e l[ln\led. iu the Tecommeundativlt + Allaire, of Aurora, L thioa b nen tuat 1t was Gen. Habel wha ** forgot Civii-Servica principles ™ und W4 pated & favorite, {nstesd of givingull the 3050 uien in the district al ODROTIUIILY 1O COMLELE o) thu prize. & repeat, i thiv ag 1 every G ! ncs that, hus urlacn since Bia el ot e ats 0p bas closely subiere, i furm on antllll‘nn!l Pl“'l'd\i‘“ Hayes and s ccle 2 wers nowlnsted aud elected: o v S MISCELLANEOUS. B e rivane. Bpecial Disvuich {0 3 WasutsotoN, D, C., Aug. 25—A ".?.'.'.ify‘l. whd bas recently returued from Wesloaa FeOuyy vuufa. where Lo saw and conversed wifh b tho mast juducatial Repubiicans fu thab Bart I State, exprasses 140 opinion that (o Feobel Jtepuoljcan Convention wili adupt the (g et 1100 1n regurd to President Uayes” Sdotblilh o It is expected that atrous onpml_}ti.m part o come frow_Philadelpbla nud the €asleed by e tho. frepuniicans from WhUL (TG geatlerun got ble informalion wers quite ¢ That 1t woald bo inpossiole (o defet ! PENNSYLVANIA WO KINGYE! m(f'l-’“ FuiLApELPiTL, Pa.y AUk Ab e weelich of thy Congress of Delezates repreeeubios B fazia® n's rgunlzations all oyer bie St bt it weas deetded tuat un dept. 10 a cumentivd Lityy pivet ellhier gere o 8t aipinbury 10 BUE ull Staly Ueavty