Chicago Daily Tribune Newspaper, September 5, 1877, Page 4

THE CHICAGO TRIBUNE: WEDNESDAY, SEPTEMBER 5, 1877. , Oxponse of tho State, on extraordinary ses { sion of the Cabinet having been convened by MacManos as soon ns the intelligence of ‘M. 'Trens' death reached him. ‘The burial | ceremonies will doubtless be conducted in | manner answering to the deep veneration and affection which the people of France entertained for the illnstrions ex-Presidont, The Ceibune, TERMS OF SUBSCRIPTION. BY MAIL—IN ADVANCE—POSTAGE PREPAID, yally Edition, one year. 31 one Fear, wer month firesa uur wes too | f een aig SA | Sgr bhe llnalelbsse: Exturday 2:08 | - A gang of Keutucky cutthtoats haa como Hitwot s » O80 , togrief. It was organized for murder nud WE bbery, and up to the time of its disruption - ? 8.1.24 FU! ‘0 iP ip hivt Tens $400 hind carried ont its plans with remarkable Cinb of twent eS URES fidelity to its object. Ono Janrs Simmons was King of the squad, and, whon one of his forco batrayed . tho party on the scaffold, tried tu effect his excape. [im- self and three others wore captured, nud citizens, of the ueighborhood, unwilling to ‘bo bored by the law's dolays, tovk them out and hung them to # bridge, to the intense delight of all law-loving people in that vici- nage. Byecimen co Tupreventelay and nitetakes be entre and etre Post Ofice address in full, Including Sate and County: Kemitiauees tay be made elther brdraft, expreen, Tort-Utiice order, o1 tn registered letters. nt our Ak. TRAMS TO CITT SIOSCHIDERS. Dany. dettvered, Sunday excepted, Us cents per week. Lally, delivered, Ftinday inctuded, 20 conte wer week, Audresa HE TIMBUNE COMPANT, Corner Madienn and Dearbora-pia., Chteazo, (1. Orders for the delivery of Tue TRnuNK al Evanston, Englewood, aad Hyde Park left in the Couating-rood) ‘WAU recelve prompt attention. ‘The South Park Commissioners display alack of harmony coucerning expenditures for improvemunts, and the conflict of views seems ina fair way to clog the disbursing machino fora time. Pending thy inability of the Board to agree upon the previae now channels through which the money shall be run off, the taxpayers will be reassured by the knowledge: that the monthly pay-rolls averago from $7,000 to $10,000, and the ine cidental hills ns much more. So long na this rate of ontlay is ke pt up, there is no danger that the existence of the South Park Board will be lost sight of. MeVicher'’s Theatre, e Madison atreet. between State and Dearborn, | '* tae ay." Mendames Don, Stoarall, Maye, cles Messrs MevVicker, Whe ‘luck, Penrson, Hooley’s Theatres Randolph street, between Clark aud Lasatie. **For~ in Fruit. Meadanes Newtou, Styers, ctess Ruvsun, Crane, U'Neil, etc. Afternoon aad Adelpht Thentres Monroe treet, corner uf Dearborn. "The Flag of Honor." Grand Haliyt, led by Miles. Rosa and Le Tvurnoure, Atternvon cule. Cotton's Opera.Houre, Monroe street, between State anit Dearborn, First. clasevariety, Joho ttetlly, Thatcher amt Huine; Slee je cle. wb oveniug. = = Bulle Walvott: Stay Af eras ane The capture of Lovatz by the Russians is reported in the dispatches, and from Ba- charest it is announced that the Russian pol- icy of inactivity, except in tho repelling of attack, is soun to give way to movements on the offensive by the army of the Grand Duke Nicnowas, the troops under the Czaruwitch to continue on the defensive in ordor to hold Meneser Aur in cheek, A new Russian corps, numbering 20,000, ig now entering Honmania, and will be advanced to tho front ox oon as it can be anitnbly provisioned. Several sneh corps will be needed before Atussia can hope to cluso tho season's oper tious in Bulguria in anything like creditable shape. New Chicago Theatre. Ciark strect, opposite Sherman ftouse. Haverly’s Minoirels, Menara. Add ilymaa, Billy Varter, Moran, etc. <Afteruvon and evening. Acadamy of Muste. Holsted street, just south of Sladison. Varlety en tertalament. ‘The Freeman Sisters, Messrs, Huglt Foy, Charley Gardner, Goss aud Fux, ete, Coliseum Novelty Theatre. Clark street, between Wasnington and Randotph. Variety entertalament, The Parker sisters, Veous and Adonis, the Crimailne Brothers, etc. Globe Theatre, Desplalnesstrect, belween Malicon and Washington. ‘Variety eutervainment. Lillan Dayton, dtiie Htaletts, ete, Exposition Bullding. Michtgan avenug, opposite Adams street. Fate Industrial Expoaliun, Day and eventng. Tntere . 1 With the stern and forbidding front of the feonoclaat comes the Louisville Courier. Journal stating with remarkable gravity that Osan Pasha, beretofuro confidently pro. claimed u romantic Turk, is none other than a ‘Tonnessoo man named BR. Cray Crawrorp, ‘We boro up with fortituda undor the rovela- tion that Hovant- Pasha was an Englishman, Menescr Ant o Trussian, Barra Pasha a Briton, and Stone Vasha au American, bat this last invention of the enemy oxcites despairing distrnst in tho whulo Moslem ont- fit, aud we ure now prepared for tho intelli- gence that Sonertan Pasha is none other. than our old histrionie friend Banny Suni. van, who, tired of battling with tho effete Rickmonds of the American stago, has gono WEDNESDAY, SEPTEMBER 5, 1877. CHICAGO MARKET SUMMARY. ‘The Chicazo produce markets were irregolar yesterday, and provisions were dull, Mese pork closed {7102 per bri lower, at $19.25 cash and 1312.95 for October, Tard closed cusler, ALERT; cash and £4,40@8.42!5 for October. were firm, atSe for loose shoulders and, 83jc for do whort riba, Lake freizhta were firmer, ot Bétor corn to Buffalo. Uighwines were steady, at $1.00 per gallon, Flour was moru active and firm, Wheat closed 24@c higher, at €1.00%¢ tor Beptemoer and $1,034 for Octaber, Corn closed Aye higher, at 434¢ for September and 4% for Uctaber, Gata closed firmer, at 24¢ cagh and Baye for Octover, Kye wan steady, at Htc. Barley cloned easier, at GUe for September. Hues were active, and averaged Se bigher, closing | to hunt bettor gamo in Schipka Pass, wteady, at $4755.50. Cattle wera active and Ge EE unchanged, with wales at $5025.80. Sheep 5 ; " wold at 33.00%¢4.87!s for poor to estes. Last The Common Council deserve commonda- tion for their almost unanimous determina- tion to procecd at once with the Inying of the foundation of the UCity-Hall, ‘The in- structions are now explicit, and it is tho duty of the Mayor and Building Committeo to push the work without munecessary delay or quibbling differences over the plans and con- tracts, ‘Lho Building Committes consists of Aldermen Van Osprn (no architect), Bat- Lanp, Coox (a practical builder), Lrnsex- nantH, and Lawirn, Under tho resolution directing that the work be begun, the Mayor (who is the Dopartment of Public Works) would seem to lave merely the voice of any ous of the Building Comumitteo, so that tho gentlemen will severally and individually be held responsible for the letting of contracts and the manner in which the work is done. They have a spevifle thing to do, viz.: put in the foundation of tho City-Hall, and they have abont §10,000 to work on, ‘The single aim should be to do the work in land as cheaply as it can bo dono nnddone well, Wo think it is just as well that thelr funds aro limitod, and they havo no crodit to draw upon, os this cireua- stance removes a temptation to extrava- gance. We havo no donbt thats majority of tho gentlemen having the work iu chargo will bo coustantly in favor of mnking the monoy go ay farns possible.” Wo think it 1s feasible for thom to accomplish with their $80,000 a8 much as the County Comiission- ers didon their half with twico that sum, and they should tako pride in doing so. ‘The Council waa wise, too, in passing tho reso. lution ackuowledying the obligntion to the State, and committing tho city to the rein. hursement of the Canal Fund as rapidly ax practicable. Good faith in (his matter will onable the city to proceed steadily with the construction of the City-Hall, faying the foundation this fall and resuming work next spring, : Saturday evening there was in store in thts city 201,575 bu wheat, 1,056,007 Lu curn, + Hh be onts, 1. and 120,185 bu barley, Thisisa VOL bu duringRast week. One bunared dollars in gold would buy $103. 0215 in greenvacks at the close, Greenbacks at tho Now York Stock Ex- “hango yesterday closed at 16]. ‘ho valuo of gold is thereby placed tho lowext since May 24, 1862,—fifteen years and threo yonths, Mr, Extony Wastnounn relates that Srexcrr went Enst in the same car with the Chicago Base-Ball Club, It isto bo hoped that the organization may protit by tho ex-President’s oxamplo in producing mans, Jealousy between the threo Turkish com- manders is said to have prevented their work. ing together in concert. Judging from the way things have gono in Bulgaria curing the past month or two, Russia would do well to cultivate some of the samo kind of jealousy, A grand national reunion and encamp- ment of volunteer soldiers and wuitors of the ato War, people who fought on both sides, was opened at Marivtta, O., yesterday, with concilintory speeches by ox-Federal and ex. Confedorate officers. ‘Iho most gratifying harmony prevailed, aud the oveasion prom. iscs benciicial results, In disposing of his property, Buiowas. Youna endeavored to make un equitable di- vision between his seventeen wives, sixteen cons, and twenty-eight daughters, Tho cx- tato ix valued at $4,000,000, and the will divides it so that all the logateca will have, with such other property as he bas from time to time conveyed them, an equal pro- portion of tho old man’s goods, eet Mors thorough investigation into the af- fairs of the State Savings develops o de- plorablo muddle, The system of bookkeep- ing was un original ono with Spencen and his pals, who put down what they pleased wherever they liked and carried off whatever was kandy, Sharp eyes aro scrutinizing the accounts, but it will bes day or two before unything satisfactory is extracted from the chaos of meaningless entries. ‘The font-tracks of the ubiquitous Jacon Bunn, of Springfold, have been discovered in tho vicinity of Chester, tho littl, one- horge, out-of-the-way town where the Com- inlasioners want to locate tho Southern Pen- Itontiary. Mr. Boxx and ono Mr. Corr, the eceiver of Choster’s * triewoakly," bankrupt road, are said to bo at tha bottom of the scheme, ‘That thoy. bave a dcclded interest in the matter seoms to ba auilicizntly attested by their reported willingness to construct 2 tnilroad from the proposed Penitentiary site to the undeveloped quarry of doubtful sand. wtone located some five or six miles away. Mr. Jacon Bunn ia not the sort of man to do something for nothing, and if he Las pro- posed to build even six ailes of rail- vond, it fe not so much for thu benefit of the Btate as for the benefit of Jacon Benn, It is suid that Munn’s mterest is in the ownership of 400 neres of Jand where the Penitentiary is to be located ; but, whatever it is, Gov, Cuttom may ag ‘well understand that the people of Jlinois have about got tired of paying taxce for the Lene. fitof Jacon Bess. . That lively speeutatur will do well to confine his attention to his State-Honse, for which the people will be called upon atthe nest general election to Yote more than half a million dollars in ex- cess of the constitutional limit of cost, The peopiy do not eare to go through the same vort of experience with the construction of the Southern Penitentiary on Mr, Jacon Bexn'saccount. When the Governor, Auditor, and Attoruey-General veto this selection, as they must do on the broad ground that it is afraud, we suggest again that Gor, Crttow shall telt bis Commissioners that be is re- sponsible for them, that the Republican party of tho State is respousible for him, and that none of the partics coucerned can afford to be mixed up ina scheme that is obviously intended to open an opportunity for squaudering public money; be might also hiut to them that, in any future sdlec- tion, they may just os well leave Jaze Bosa’s interests out of account, aud rutuer The Common Council fs wasting a good Gent of timo on the gas question, the com. panics showing no disposition to be bull. dozed by propositions without sense or rea- pou,—such as the protfer of $13 each per year for the streetlamps. Certain of the Aldermen need to be admonished that gas, pure and simple. is very well in ite way, but is not to bo depended upon solely for political capital, —_—_————- At the anceting of the American Science Asocintion, uow in progress at Nashville, Pref. barrony has torn up the minds of hiv ‘roller savans by presenting for considera- tiun & »pecimen Cyrotodanta Neutricasa, fron the Lower Silurian, ‘They have got it In atous, and the scientists aimusa them. sclves Ly alternately watching it suckle its young, and discussing its genus and whether {tebould be classed as fish, Hesh, or the devil. eee ‘Tho death of Tutens las created n pro- found impression throughout all Europe, aud | more especially in France, whero it is re- guarded as a national calamity, Manifesta. tions of publig grief are noticeable to ou extent which recalls the state of feelingsin the United States produced by the inteili- gence of the sudden taking-otf of President Lisxcotn in 1865, The Republicans ure dis- muyed wt the sudden loss of the wan upon whom they had centred their hopes and desires as the successor of MacMuuoy, while the Conservatives re- yard the circumstance a3 certain to operate wu their favor at tho ensuing elections, ‘The funeral will be conducted by and af the study the map to find a nearer centre to the Southern District of the State than the ex- treme corner of the State. The St. Lonis Republican is delighted with go mueiof the late speech of PeNpLeTon as pitched into the act of 1869 which nade the principal of the 5-20 bouds payable in coin. It says: Ve presents, ina bold, clear lieht, that ontrace- ots wrong on the people, whore evits they are dea- tined to suffer for generations, the conversion of the bulk of the national det from ono obligation payable in greentacks toone payable in guli, ata cost to the people uf several hundred million dol- Jara, anda prodt to their creditors of the same amonnl. ILwasdone in 18ul, the first year of Guast's Administration, and was the Grat elgnal act of that Adininistration, "The act of 186) made the 5-20 bonds paya- ble in coin; it does uot say auything about “gold.” At that time tho silver doliar was ® legai-tendor for everything, Louds and duties included. The ensuing sessiun of Congress will undoubtedly restora the silver dollar to cireulation, Will the Republican explain how much would be saved in paying the 6.20 bonds in greenbacks instend of in silver? With greenbacks at 96 vents in gold, or within 4 per cent of par, will iLexplain how “ several hundred millions " could be saved even if all tho 4-20s were liquidated in gold? Is the Aepubtican iu favor of paying the 6.20 bunds by tmannfacturing §800,000,000 of greenbacks for that purpose? Thot was tho Vexptetox plan when ho was running for Vice-President eight or ten years ago. Several hundred millions of 5.203 havo been enlled in and paid off siuco thon, and soveral other hundred millions haye been changed into Sand 44 per cent bonds, Pexpietox advocated a schome, as hissupportors under. stood him, of manufacturing about $1,600,- 000,000 uf greenbacks, aud compelling the German, English, French, and Toland, 99 well as American, bondholders to take them, or gut nothing for their securitios, Ho héver pomusted out the provision of the Constita- tion that authorized Congress to issue n forced curroncy ad (iditum in time of pace, and he never explained: when or Low the £1,600,000,000 of unconstitutional forced nutes were to be patd. ‘lho result of tho whole matter was that tho people sat down on him ond squetchod him as a repudiating rasoul, a THE SPENCERIAN SYSTEM IN POLITICS, ‘The man Spexcen who wrecked tho, State Savings Iustitution in this. city bas a good many imitators in public life. ‘They are tho subsidy-Lunters, They find their own pri- vate credit has been exhausted; they have helped to deplete the corporations with which they have been connected; they see municipalities Jonded down with debt, States in default, nnd wholo commuuities bankrupt, ‘There is just one thing aud only one thing left for them to speculate on, viz.: the faith of the nation, By great care and honest ‘dealing, tho national credit haa been saved front the tnint which attaches tu pretty much all other forins of credit. The United States can borrow monoy at the lowest rates of interest, ‘The Srexcens of public lifv nro determined {o trude upon thia credit and dostroy that as they have all other, ‘They want to increase = the ational debt thousand millions to furnish themselves with plunder. ‘They aro perfooily willing to mortgage future generations, to bring the United States financially down to the condition of ‘Turkey andthe Sonth American Kepublica, and to squander hundreds of millions of dollars in unremunerative investments, in order that they may get theirhands ia. ‘Thoy aro going to inska a formidablo raid upon the next Congress, ‘They will present thomaelves first under the cover of the Texas & Pacific Raitroad, asking a subsidy which thoy have generously roduced to £50,000,000 by lop. piug off 1,200 miles of proposed branches. But this is only a single ite in the pro. yrummo the political Srencens have inid out. Tho attainment of the Tozas & Pacific snbsily will bo merely the opening wedges to pry into the Tronsury, ‘I'hat particniar subsidy “cannot be granted without —nrrangements being concluded for drawing upon the national credit to Guild the Northern Pacife Railroad; tu build levees along tho Mississippi River; to build a railroad fromm Salt Take to Portland, Ore.; to build the St, James & Kanawha Canal; to Dnild a ship-canal from Luke Champlain to Albany; to build another around the Niagnra Falls on the American sido; .to Luild more vanula in Georgia, and ‘Tenneseoo, ind [i- nois, and other States; to pay Mr. Eapes ao Hnndred millions o€ dollars to put the Ohio River into a pernmuently good condition on his new plan; to grant aunual subsidics to ateainshipn, ete, ete, The subsidy-beggars of tho ‘exe & Pacile achemo merely repre. sent an ary of Srexcens, ansious to plin. der the peoplo of the United States as Brex. cen plundcrod the depositors of the State Savings lustitntion, and to wreck the public credit aa completely as thut institution was wroeked. It is useless to dinguise the fact that thet: is great danger that the Toxug & Pacifie begyars will snecced, and that their succes will ulgnify the bankrupting of tho public credit by the wholesale squandering of pub. Ne moneys on the various kindred schemes, Indeed, it is better that the extent of the danger should be fully apprehended in order that the easy-going, necommodsting mem- bers of Congress may by stirred up to somo thing like slarin, ‘Tost Scott, in his paper in the North American Review on the recent strike, attributes the hard times to the universal destruction of credit cud the vast- toads of debt auc taxation which the uation, the States, and the manicipal corporations arocarrying. But this will not prevent him from making a desperate effort fo increase the national Joal by at least $50, 000,000 for his own penefit, with: the certainty before him thut the grant of the subsidy be ests will entail other, amount. ing to hundreds of millions in all, ‘The Democratic State Convention of Pennsylya~ nin did sont service by the blow it gave bim when it protested © against subsidies, land. grants, locus of the public credit, and appro- priations of the peoplo’s money to- private corporations as Ivgulized plunder of the tax- paying industries of the country.” We hope Mr. Haxvate and the other Penusylvania members will construe this to be sumething more than ecinpty sound. It ought to pre. veut the Northern Democrats from foluing the Southern Democrats on the plea of po- litical association,in their determination to support the Tox Scorr swindle. Wo aro told that the South will be “solid” in Con. gress in favor of it, Lut the South cannot carry it through without the aid ef a large number. of Northern members, and this ald cannot bo secured without. an agreement that tho Northern States shall have their share of plunder iti some other shape. Ove Srexcrn will not help another Srewcer out unless he aces there is a chance for stealingy of bisown. The Texas & Pacific scheme has no claim which the others cannot urge, Al reat upon . the sclfish-pretext of daveloping local inter- exta at the national expense. It is only by a junction of the local interests tnat the National ‘Treasury ean bo reached, and no one of them will join in favoring snother withont a full nnderstanding that the favor shall bo reciprocated, ‘The presentment of the Tom Scorr subsidy is, therefore, nothing more nor less than a proposition to plunder the rovennes and ruin tho credit of the nation in order to previde epecuiation aud gain for private persons; and it is certain to result in anumbor of improvomenta that will not yield ono dollar, Of course it ia not expectad that any of the subsidy-begging rchemes will pay ; if there woro reasonable hope of this, thera would by no need to knock al the doors of Congreasand beg for public money, as private fands would eagerly seok the investments, ‘Kho projectors look upon the United States Treasury precisely as Srrxcer looked upon the Stato Savinga Institution; if they once get thelr hands in, they will have the United States In just abont. the same condition as Srexcen loft the Stato Savings, and the tax- payers of the country will suffer in about tho waine proportion PeNcen's depositors, THE CURRENCY CONTRACTION--SILVER. We printed o few days ayo a report of some romarka by ex-Senator DootitTie, of Wisconsin, on the subject of the currency, That gentleman, commenting upon the ex- pected resumption of spovis payments in January, 1879, tnkea the ground: 1, That no rexnmption of specie payments can be main~ tine? until there is an amottut of coin in the conntry at least eqital to the amount of paper money. It is not necessarily to be in the banky and the ‘Treasury, but mist be incirentation sud avcessible in the country. 2. ‘That there being £05 1,009,010 of paper money now in cirentation and $150,000,000 of coin ; amd that, to equalize the atnount of the coin and the papor, thora must be a ree duction of £250,600,000 of the paper and an increase of cvin by the sams amount, leaving 100,000,000 of each. ‘The preenbacks might Lo funded at the rate of $10,000.0008 month, aud bonds might be sold for gold to raise the $$250,000,000 needed coin, 3, ‘That tho cur. reney in to n country what the blood tn cir. culation ix to a human body, and he added : Since 1875 one-scventh part of the bluoi hae Deen drawn out, business 4 stagnant, men of en- terprise aro paralyzed: many wo alll! stand are weakenlog; they feel themselves beginning to stagger. ‘If drawing out one-seventh part of the Diood uf the system in two years haa produced that result, what effect will follow if you draw out in one year more than ono-thied of all that is left in the yatein?: There is but one aaywer, The patient wildle inthe operation, ‘Two-thirds of all the business men still standing will go to the wall, Every property undor mortwage for one-half its prevent value will change hans. ‘The forced and sudden change In the inganing and increase in the value of the dollar will bring upon the country more destruction of fortines and valuew than a civil war, ‘Lhe tacts relating to the contraction since 1875 require some explanation, For some yenrs prior to the pauic, the amount of greenbacks outstanding had-been 3356,000,- 000, During the panic the amount was in- ereased to £382,000,000, The amount of Nationnl Bank notca outstauding June 20, 1874, wos 319,801,182, ‘Tho National Bank note circulation, however, roached its maximum in January, 1875, when the law was enacted enabling the banks to reduco thelr circulation, Wo now have tha figures: Leyul-tonders, January, 1975..... 4.8383, 000,000 Natlonal Uank nutes, Jan, 14, 1875,. 51. 801,400 ‘Total paper currency, Jan., °75..$754, 801,490 Under the law of Congress of the Inst date tho banks were allowed to retiro their circu. tution, no bank, however, to have loss than $15,000. Free banking was also established, oud, in order not to havo an inflation of the curreucy, it was provided that when new banks wero ostablidhed nu amount of greonbsoks equal to 80 per cont of tho currency issued to new banks should bo retircd. ‘Chin al. Jowod $100 of additional bank papor for every 0 of groonbacks retired, but, as the banks had to keep a reserve of 20 per cont, the nc- tual amount of enrrency in cirenlation was expected to romain about the samo, ‘Thera has, however, been a change’ produced by the practical operations of the law, ‘Che changes which have taken place since then are thus shown: National Bank notes tsmed | from January, 1575, lu duly 28, 1 same te Aug, § 28.00 ay 2.25u, 100 20,801,005, 401,601,450 Tutal lesue of new notes..... Amount oulstanding Jauuary, 187 ‘Total sseue, old and new... Bank notes retired to . DULY, LNTTs ce vanes 26 BOS, Samu to Aug.26, 1877, 1 60,552,004 Outetnd'g Aug. 25, ‘77, $310,200, 741 In the meantime, under the 80 per cont rule, the greenbacks have been retired uutil tho amount ontstanding Sept, 1, 1877, fs $58,010,006, ‘Che outstuuding paper, thore- for., is now: . Leval-ten:ter not Bank notes... Total currency... oo ‘The agyregute. reduction since Jan. 14, phos beon #61,620,013, of which $24,- 959,90t waa in greenbacks and $36,660,709 in National Bank notes. Tho progress of the decline is shown in the operations for the four weeks ending Ang. 25, 1877: Ad- ditioual bank curroncy ixsucd, $1,259,160; bank currency rotire:}, $1,295,257; green. backs ratfred, being 80 per cont of nuw bank issue, $1,007,328; net reduction in the four weeks, S1,003,4 ‘The reduction of yreen- necks in the four weeks cf August was over $1,000,000, and this may, under the law, go on until the whole amount of them is ro- duced to ¥300,000,00), In the ivantime the voluntary surrender of bank-note cur- reney continues far in oxcess of that issued to new banks, ‘The views expressed by Mr, Dootirtie as to the effects of contraction of the curroncy are those entertained by the great majority of the peop oof the West, We know of uo way of arresting the contraction of the bank. note currency without the repeal of the bank tazesand the granting of notes, dollar for dollar, of the sureties deposited, Otherwigo it will probably continue, and perhaps iu larger amounts, o8 the day for redemption druwsnear, The ulinout limit to which tho greenbucks can be increased is $400,000,000, but that would be only an increase of $42,000,000, which is far less thau the con. traction which, bas already taken pluce, ‘Yhero is, however, another and a more permanent form of arresting the contruction of the currency, ond thut is the free coinage of silver. ‘Lhe remonotization of the silver dollar and its free coinage would at once supply tho country: with curroncy to tako the place of the declining paper, It would be a legal-tender. ‘he capacity of the national mints is from forty to forty-five millions of dollars a year, Opening tho market for that amount of silver a year would have the effect cf incrons- ing the value of the metal and of stimulating the product of our mines. If it gave to silver ‘a greater value iu this country than elsewhere, it would draw silver here to be exchunged for our domestic products, and would increase the market for those prod- ucts, Lf in time the volume of silver cola 000, 000, should become so great in bulk ax to bo in- convenient, it could be deposited as gold and greenbacka are now in the National Trens- ury, and the certificates of deposit could bo used in business instend of the coin, This means of supplying the country with cur- rency #6 the natural one. It is tho ono which should present itself to the mind of every manat once, Tho precious molal is produced here in onr. own mines, and we deny ita sale or use at home and compel its exportation. Let us utilize it; let us fill the land with tho metallic currency, and make it the permanent basis for ‘all the other cur- roncy, without restriction or limitation. THE WEST SIDE PARK MANAGEMENT. ‘The report of the exports appointed to ex- amine into the accounts of the West Side Parks does not reveal that frightful condition ‘of depravity and wholeanie plunder which ‘was promised by those who wot the investi- gation on foot. The discrepancies in the nc- counts cerlainly show that there bas beon loose system of bookkeeping, and it is un- doubtedly well to have it straightened out, and tho differonces adjusted, But thero is no evidence in the report that there has been auy plunder, Tho ugliest foature in the showing is that payments have been made for property that were in excess of tho As- sessor’a award; but even herein the laxpay- erm have some reason to congratulate them- selves on the smaliamonnt of excess,—nbont £10,000, It is true thera ought to have been. none, but there are fow sich trusts, extend. ing over a term of years, and having a largo amount of the people’s money to dispose of, where bad management or fayaritisin docs not squandyr vn Jarger proportion of tho money than this, As to Mr, Greesenavs's account, there is no question of dofulention, ‘Chere is o dif- ference of somo thousands of doliars, aris. ing from different statements of the fav. runts, and a controversy aslo the payment of interest by Mr. Gnrexenavat on funds iu hand, Mut this difference is a matler to be flually determined by the books aud vouch- erg, and by proof of the understanding be- tween Mr, Grerxenatst and the Bunrd m re- gard to the interest he was to pay. Tf final comparison of eccounts shall show that Me, Gurexenaust is still a debtor to the Park Board, either for interest’ or moneys wine- counted for, it will prove lo Le a mistake ine Loukkeeping, and he will be found abun danily able and entirely wilflug to pay. ‘The report seems to show that the turpay- ors of the Weat Division have secured theie parks at a relatively reasonnple cost, ‘They have three handsome parks of several hun- dred acres in all, which represent an average coat of nbout $1,200 an wera. “‘Lhure is no way to determine with certainty whether the monoy expended on improvements has been judiciously exponded, but there is no evi+ dency that it has been dishonestly used; and. it looks more than ever na though tiers is not thu slightest warrant for the exagyernted rumor sut on fuot by the friends of the two gentlemen on tho Buurd said to be baukrupt, aud whose removal was demanded because, in that condition, they canld not remain Commissioners aud comply with the law dofining the qualifications of Commission. ers, A correspondent, writing Tue Termone in relation 2to tho interconvertible-curroncy bond, thinks that greonbucks might be forced to circulatg in detliuce of tho irrepresauible tendency to,run into the form of 3.058, He saya: No currency could answer the purpose of money uniess it would circulate. [ut thuze ara porte which, s0 far eet have avon, ‘Tug Tnigune has not Considerad, all the revenues of Vovernment were payable in ercenbacks, —all State and maunicl- paltaxes, and all diwbutsomenta by the Woveras ment, together with the necessity of small bills for ordinary tunsactione among the people, and a» penalty shutlar to (he present statute auainet ing any other thing as money, including the intercon vertible bond,—would net the greondack elreuls- thon be assured beyond a dunt? The Government would receive and pay out annually, say $350,- ‘The paymentant collection of Stzte and inaninipal taxes would require ut leant 31,000, 000, - 000, The people would require a very large amount inwnal! notes for ordinary small transactions, These wants, together with the general fact that, In a new country tke the United statos, rates of interest for loons must be much higher than 3.05 percent, It seems to 10 would suflice to keop tha yrcenbacks meircilation, In New England, tho objection to what Iv there called the ** Western currency luca" iy, that the greenback could not be kept at par with coin by the interchangeable-bund plua, and not that ft could not be Kept in circulation, Doth ovjectinue are fatal, 1f well taken, Our correspondent seems to overlook the fact thot uilver dollars would constitute the small moncy of the country after the paper currency had correlated into 3,653, ‘fhe forthcoming Congress will remonctizo silver, and the mints will strike off 310,000,000 to 250,000,000 year, Silver dollars will be- come as common and plonty as five-frane pieces ave in France, ‘Taxes of all kinds will he paid with thom, A little money, changing hauds daily and weekly, will transuct a vast amount of business Iu tho course of # yoar. Occasionally some 3,63 currency bonds would undonbtedly be sent back to the ‘lreasury for greonbacks ; but, ag soon as tho Jattcr were put into ciroulaticn, the brokers and bankers would pick them up end return them for 3.658, ‘Iho interest would always act like the force of gravity in sbsorbing notes into bonds, Our corroxpondent says: ‘As rates for loans are much higher than 3,65 per cent, it seems to me that would suffice to keep greenbacks in circulation.” It might to somo extent, if the borrower refnsed to receive 8,654; but he would accopt thom with avidity, because, aslong as he had any not paid out, they would earn hin interest.” The bonds would elroulate from haud to band aso desirable but cluuuy kind of inoney, and the Govern. ment would have to pay the interest, ainount- jug to 330,000,000 or $40,000,000 o your, Noither greenbacks nor bank-notes could cir. culate in competition with such interest. bearing bond currency, To the Editor of ‘the Tribune Mauixg, 1., Aug, ‘1l.-—Ia your strictures on Secrotury Suvuwan's speech, you seem ty tuke tt far prauted that, A thy 3p estoptivn tow te if the nut repealed, aif the greonba by immediately peewcuted ut ‘the Treasury for tee deinption at the time Used by the law; Whercay it sypeurs ta us this will not be tae case, as {aura will ne nu genecal deaire tu realize the specie on tue when itis knuwn that they wre ut par with apecie. if am wrong, please ect me rin, Kee apectiully, Ui. Van Oupen, Ker.y.—We have never said they would all be presented sumetately for redemption, and never named wuy amount that would Le pre- sented the first day or brst mouth. Bug noth- fug to the future can be more certain than that at least one-third, perhaps one-ball, would be so presented the iret year, The iapurting merchants would draw out about $140,0000,000 to pay duties; and perhaps $10,000,000 to $00,000,- Od more Would be needed for exportation for various purpuses. No wmatter how wuch coin cottun and produce shippers may fiusport, there are other merchants always exporting coin. No one would go tu @ broker and buy it at a pre- inluin, When bo bad nothing todo but take ly grecubacks to the Treasyry aud draw tho gold for,them. If there were any auspicion fu the winds of brokers, bonkers, and spcculaturs, that the Goverument had vot a larss cuough quantity of gold ou baud with which to resume, there would be a tremendous rush aud scramble to grab the gold,—wel) kuuwing that, when the ! Government was forved to suspend, the green- backs would tumble down 10 to 20 per cent be- low par. We haye no confidence whatever in the ability of the Treasury to resume in gold on the 1st of January, 1871, and keep ft up. ee LOUIS ADOLPHE IMIIERS. The cable annoumenent vf the death of Louis Apournp ‘Pitena, the cminent French statceman, who has played sv prominent a part int French potitles during the past half-century, WII Impress the reader with the suddenness of the event, although it shontd nut have been unexperted, considering that tha deceased had arrived at that advanced age when the strength of the yenes is “but labor aml sorrow.) ‘The eminent deceased was horn at Marseilles, April 16, 1797, and had therefore passed his sth year; and, although suggested as a probe aule candidate for the Presidency in case of MacMauos's resignation ur removal as on jseue ot the present campaign, he had practl- vally dropped out of politica, and was already a statesman of the past, who had nearly sur- vived his fnituence and his usefulness, All that remains of him now is the reminiscences of his political career and the fndelible impression he hus left upon French historical literature, Me was born of o conmercial family wrecked by thy Revolution. Ife was edttvated. at the Lyceum of Marseilles and the ‘law echool of Aix, and entered upon the active duties of Hie as an advucate, practlong hls prutession froin 1313 to Jovi.’ In the latter year he went to Paris to seek his fortune, with M+ Miunet, his constant friend, dlis contritutions: to the Conatitutivnnel gained lita a position upon {ts staff, and alsu scettted him the wequalntanee and tavor of Lavitre and Tanternaso. Three or four years atter, be made his first, appear- snee ns an author in his * History of the Frenchy “7 About this tine alxo he not oly ned himself as a political and literary, bub alse as an arc and dramatic eritic, and print- eda very remurhanle wh Of Mra. WR.naMmy, an actress at Coverit arden, aud a picturesque deserfyuivn of Ue’ Pyrenees. In 132) be ree then tron the Covstitalwnue, and, with Miner and Cast arted the Widdend/, which pros tnuted ti. ange Of dynasty brought about in the following duly. In sod, under Louris Pruares, hy was made Counselur of State and Secretar eneral to the Minister of Fie uance. Aller dour tuntls of adimuistration he sought tu resize his oflice, when, by express command of tha King, he was made Minister of Fiminee, from which post he retired in dsl, contenting Iduisel’ witb serving iu the Chamber of Deputies, to white he had been elected in Is trent’ the distilet of Alx. In 1s32 he joined Sovrs's Cavinct as Minater uf tue [o- terlur. It was during this year and 190d that ho made bhosclt very popular by great works uf pully hmprovement. | le | ole tuined from the Chasubers at appropriation of a hundred imillton uf frances tu be tdevuted to public works, Tle replaced the stutue of NApo- Leon tipon ite pedestul, thushed the Arc de PEtolle, the Church of the Madelsine, and the palase on the Quay WOrsay, erected a fountain tu tht memory ol the Due oe Benny, construct edt roads afd canals, and revived Industry, aud With it pubke prosperity. Je retired on tue Oth of Nuvenber, 1932. but resumed alive io the following Decemuer a3 Miaster of Commerce and Aureniture, La ist be returned’ to the Interior Departinent, and qiehed the bloudy Inautrections at Lyons aud Moris, Alter several Mitmptertal cumpllcativns, in which he disazreed. with SouLt and Moke, aid was a rval of Gur vot, le retained bly oilice under the Due pa Broowte aud coushated Geizor, and iu the same year was elected to the French Academy, In 1885 be supported the restrietive presa and jury lass, owlng to the attetapt upon the King's life, which nearly veived his own, made with the Krescnt’ iuferval machine, Jn Jauuary, 1856, he resigned, owing tv the rejection of the Vil for the cunversion of the Renter, but the next month be bteeuma Premiet again aud Minister of Foreign AfLura, He retired in Auuust on account of Ue King's opposition to armed intervention In Spatn, was reinstated In March, 1810, and again retired m Uctuber, be cause the King did vot [avor his polwy of turtl- lyme Paris und tnereaslug the armuatucnte, and was succeeded by Givizot. For a tinue he now retired tront actlye pol.tkal life and commenced his yreat work, the “IMiateryof the Cunsue fate and the Empire," aud traveled all over the Continot in quest of wmateriule, He was still recognized as thu leader of the Uppoaition and aavocated tberal ‘muasures in education, and was adeterimiued opponent of Ultrainuntauiam and political corrupaten, und shortly before tae Revolution of 1843 attacked Louis Panis with great vigor tor lis conduct with reference to fureign nations, especialy England, We opposed Lhe Republle, und un the very night of the Revuiution aluressed the people of Parla In favor of * Liberty, Order, Union, and Reform, Hg wos not a Repubheau, but rath- er on ldveral, and yet when the Republic was declared he accepted it os a bulwark against = maunorchienl eneroach- menta, and In dune of that year was clected to the Constituent Assemtiy by a lure majority over Lasanting. in 18i8 he voted for. the Dictatorship of Gen. Cavasunac, and for the use of extreme mesures against the Socialists, and about this time published hls work on The Wht of Property, In witch he combatted Proupnos's propositions. in December he voted for the Mresidency of Prime Louts Na+ voLEoN, aud fought u duet with M. Bixso fur spreading a rumor that he bad dixparaged his election, In thtsAvseinaly he tuok part in alt the important debates, voted tur the expedition to Romy, for the law of public Instruction of Maren 15; 1850, for tue suppression of cluts, and for the election law of May dl, After tne removal of Cuanoaunten he ralsed bia warn- Ing volee ogahiwt a new Napoleon: Emphe, with the fumous declaration “L'dnpire at Je” but the = coup delat dot take place until soinc months afterwards, Dee. 2, on the morning of which he was arrest- ail, iinprisoned until Jan. 9, and bantebed tlt Aug. 7, 1953, During his bauishmeut. he deyot- ed Inmecif to his tavorite study of the arts aud literature. In 1563 the weakening of the arlato- cratic regime encourased bin to present him- selt as w candidate for the Assembly at the gen- eral elections, to Which he was returned bya triumplant vote, notwithstanding the opposl- thon of M, og Pensiony, Minister of the Interlur, Tn 1565 he opposed tho extravagant expends tures tor the Italisn war, the Mexican expedi- tlon, and Mar: Hausa an'a well-knowu Pa- Melan unprovements, {1 1560 ant 1807 bo at. tached the Emperor for pernitting the aggrand- izoment of Pruwsia ad tie uuitleatton of Lely, Ty 1570 he bitterly opposed the Francu-German war, and predicted that the Government was rushing upon certain deteat becausc it was unprepared, He sought to obtain avarmlstie, and had several interviews with Bismanck, but without faverable reautt, Ou Feb, 8, 1871, he was elated to the Assembly in twenty-six d¢partinchts, und nine days utters wards was choren Chief of the Executive, Dur ing bis term be negotiated the pretiuinary treaty of peacu with Germany, crushed the Com- mung, aud ucgutated the fuan for paylug the indetanity to Germany. On the dist uf August his terms was extended to three years, with the tlie of President of the Republic. On the ree jection of the Tari! bin, dau, 20, 1972, he ree sigued, but Was jnduced to remain, du Maren, 1573, ho provided for the payment of the whole sudemuity aud the complete withdrawal of the ernian troops, aud recived tue thanks of the Legbluture. in May he waa vrevented by legislative enuctinent from making tho Re- pubhe permaucat, and realgucd, and Mav- Slattun Lecaine bls successor, Bince that time be has scrved in the Aaseibly and devoted Ulmself ty literary labor, rexppearlug Ju pollti- cal life receutly ag the proape.tive candidate for the Presidency. Asa statesman or politician, M. Tusexs, notwithstanding bis opposition tu monarchy aud bia bitter. oasaults upon Louis Pustirys and Louis Navocgos, could not be calied an extreme Kepwblicau. Ite wus never ardently fo favur of the permavent Republic, and yet be was the {dol of the French people, uccomplished wore fur the vlory ay} prosperity of France thaw any mau of bis period, und raved her iu ber most dangerous criss. Few men, except Bistauce perhaps, Lave had such ap ad- venturous political life, For a full half century he has been prominent not only in French pali- ties, but in the polithal hiatory of the worl. Asa literary man he will be chiefly rememtore] by bis great historical works, the ' History of the French Revolusion' (1823-'7), and the “Histury of the Consulate and the Em- pire” (1315-63). Otner, tmportant works of Lis are the “History of Law" (152); the “Monarchy of 1330" (1831); “The Rights of Property" (1813), and © Man and Matter"? (1473). At the time of hls death be was engaged upon a work on art and bis Memoirs. He was tmarric., but dled childless, 1€ we mistake not. Mis death leaves GAamnerta without a rival, but the views of the latter oro so radical tint itis already Intlnated that M. Grevr, ex-t're it of the Chainber of Deputies, will be put tor. ward ng the canaldate for the Presidency iu case of MacMauos’s retirement. a Ta the Fultor af The Tritune, Cintcano, Se —There are many Greenback. ache, ment back? thal peer Wrest alrectly on the crelit aul zoo © people, —be made money eiapi: stamp of rovercizn authurity, and not re or pay role lo anytiting. They ray, tf urecubscie now, which are not tedeematle of paratle In ang. Mang nt any time, and which are not recet by the Goverment, are worth within three an helt cents ax much as gold, aud three cents Aun silver, that the simule act of fall munetizution [taking tuens for antics! woold instantly bring them to par with golds that eacn a ayaicn) would pave to the Government tre interest On the titer. convertible bunds, which bonds would be wholly uinecestury, ow they word only serve the wealtay clince.t aga sponse io ebsord the ‘aurplis c: a of te s woul nut oe open ta the alyectlo Burges, ¥h ainlity: to clrentata om account uf interch bility Foran Interest-vond. aL We thntlly suggest that the present greene back is not that sort of halrnln at all It docs not bear any.“ sovercignts-stamp" upon promising to pay to the bearer. and Conzres3 tas proms fret, by aet, that those notes shall be paid on demand ov and wfter Jan. 1, 1879, which ts only sixteen months lence. As the greenback now stants, it isa Treasury-note redeemable in gold dollarg ina sear and four montis fram this ttme, ‘Chat fact must exert a powerful ta fluence on its value. Contraction of Lhe cure reney bas also exercised considerable influrnze, Jn January, 1015, thera were sume $25,00),0) more greenbarks in circulation than now, and Also 8:23,000,01N nore bank-notes. Thly redue ton of the paper currency by $61,001,000 has had its Influence on the va.ue of the greens backs, And, thirdly, the valance of true for three years has been largely in favor uf this country,—last year = atinvunting to $131,000,000, which has stopped the outiluw of gold to Eurupe and cheapened foreign ex ebange fu Wall street, ‘Theso three cates fully account ior the steady rise (n the gold val- ue of the greenba-ks. If Congress should ore der ‘the Secretary of the Treasury to aceept them for duties, (t would not belp thelr value, unless Lhey could be forced on the bondbutders why have been promised goln, because the See- retary would have to sell them to the gould spectilators for specie with which to pay the futerest on the bonds; and who belfeves that he wontd get as high a pele for them oa the shrewd, been tiporting merchants manage to obtain? ‘They would ve sold fur less, avd their value would be reduced Instead of enbanced, They would not be worth 00 in wold to-day Af they were rece! for duties, and the Guv- croment hud to sell them to the brokers for gold lu pay interest on the debt, That ts the way they would be ralsed to par, le Our publle-spirited citizens have come to the rescug by subscribing nearly $2,000 to again set, lavorers at work on Michigan avenue. In this they are following the youd exampte of Mesos Waun, Hutcuinson, and others, while at the sane tune they are furnishing a spiendid drive to Thirty-ifth street, and thenes custward a short distunce to the Grand Boulevard aud the South Parka. Some $4,500 are needed to com plete the work. Subs riptions muy be mude to Esos Arena, Eaq., No. 11 Reaper Blue Bannzit, of Dung, Anwouk & Ce pulitau Bluck; or tu 8, W. ALLERTON, Esq., of the Board of Trade. It fs thought that sul- scriptions of frum $25 to $W by our tb eral citizens will complete the worl. ‘They should be seut with checks tocither of the above gentlemen at once. In this counce tion it may be stated that a petition was sent in lo the Council, at its Inst meetin, requesting the passage of an ordlusuce requiring ull loaded vebivles ov Michigan avenue Lo have oroad tires, Ut should be passed unanimously, for tu that ‘ease the broad tires, If pusalng slong the strect, would really be an advautage to. it, Our cite zuns are to by congratuluted that they are likely to have acomfortulle strect connecting the South Parke vith the heart of the city, and that thug the farge amounts of moucy they hare been taxed tu ake thesy public fprovenents may bemade voluoble fur the purposes jor which it has been sueut. And then it the police will execute the ordsnance asalust tuvt driviny,— nuother thing ceacutialtu the eatety ur tho peuple who enjuy tue luxuries of the etrect— they will have duns their duty and will mect the approbation of the public. ——— It Is expected that President Hares will cond fo to Congress, at tho extra session, the uaue of @ persun to Mil the vacancy on tue Supreme Beuch caused by the resiguattou of dudes Dar yes thud returs tu the matters Bene OF thy Suprciss tw take & meat inthe ‘edetul Senatys and, wlehuiigh the Gasinud sof thes Court is frou une tu tarce yours beuluchand, ws position te still vacant, wad Lute Carcust be wattiost an awsveitte Judge OF thy pupreuie Court, It Would secu oW if the Wresdent whould have acted lu tie Guvertuicnt, sented in the pupreme Court, Muritius atin WionLL the Hams of fariicn ty cosuee un With tale uppurmtinent, WhO de nut even lve in the Cuenit aha wever did. We caunut belcse Thaba resident Wares will so lar depart fron tuo jroper suminivtration of hie oitco us tu linpose Upon the people uf thie Curcult wnt hmportedvudye. Ht Would be au Insult to the Pedals Jaden and 10 the Bar ol tae Circuit, wuieb anould wut ue wiuw> ed tu yo wnretuked should it be dune. ‘itt we knuw tu’ be olinuet the universal fecling of Wag Mewbera os the Luar who practige tn tue Kedesa Courts ty this Circuit, Why should the Lured SUaivs oe divided tutu Clreuity, If ib fe mut to base cach one represcuted by wv gudgur brent if 18 south had been per Fepteaculae fhon ou the dup ju redaul Ly tue pecply of bu Frow Thirty-fitth street worth, along the aver nues Weal of S.tth, New York, ta the parade of squatters, ‘Thea people loate, buila, and. defy, and the collisions between property-uwicrs aud Voluuscer tenants have not been luirequenb or marked by au abscuce of brulacs. The Hate factory the bas settied the business for a few of these tenacious teuants, by buruing up the houses erected on the lower cde of the area of squat. ‘Theae people never rebuild un the place where they were burned out, aud so tie bob wit of the fire-traps La blown somebody auuie guud. 1 eed The news of the oppolutinent of Witte Henur Suri tu tho otic of Collector was sent frou Washlogten inarked * Sati, Clucia- wat,’ and there gistributed ull over Sssitn’s balwick, as though the appuiutce aud he of the Associated Press were not identical. As & matter of course, ‘S31, Clucinnati,” © he had distuibuted messages recording the tate of ba tioda, would not tuke guy futerest a te ap polutment of a mau nawed Sait toa Cullect- vrétlp, ‘Thus dy diverse fuactlous frequenuy unite, — Ho ls fu Canada, Mr, Haxgs, and youcan seud that requisition ty bring bim back. Yuu wot 6 Lave to trouble yourscli any further about bi), Mr. Havas, Just send Lim to Chicago aud turu bau over to the depositors, and they will rellevo yuu of a great deal uf respousibility. a Our Washington dispatches bave announced that the President bas suspended Mr. J. Russetb Josga as Colle.tor of the Port of Chiveg, uu- der the ‘Tenure-of-Oflce act, and appointed ia bis place Mr, Waitttas JL. Sutra, the Geversl Agent of the Western Associated Press. No charges Were preierred aguiuet Mr. doxes, and. bo comuplaiut was mae oi the manuer ly which be bad perivsmed bb otllcial dutica. Bugit was