Chicago Daily Tribune Newspaper, October 31, 1877, Page 4

3 i \ Y 3 hl 4 THE CHICAGO TRIBUNE: WEDNESDAY, OCTOBER 31, 1877. Thie Tribwe. TERMS OF SUBSCRIPTION, Parie ol &) car. ver Bunday Fdition: Literary and Boubie fheet Saturday Edit Ti-Weekly, one ‘year AT2OL A VENT, PETTIODIN. 2soserans WEEKLY EDITION, POSTPAID, Y Sreclmen Glve Post-Ulitee sddress in full, Including State sod Cornty. Ttendteances may bo made either by draft, exprets, Tunt-Oflice order, or tn reglstered letters, at our risk. TERMA TO CITY SUDSCRIDERA, Datly, delivered, Eonday excepted, U5 cents per week, Latly, deitvered, tunday Included, 70 centa per week. Address THE THIBUNE COMPANY, Lorzer Madison and Dearborn-sta,. L Orders for the dellvery of Tur TRIRUXE &S Engleweod. and Myde Park lefs (o the counting-room Xllrecuive promat atiention. Madtron st **Pink Dominors ete,: Mesers, Wl looley?s Thentre, Tardoirh street, beiween Clariz The Evangeline ComNfastion, *'Evangelne, duwmes Werhershv, Clancy, ete.: Messrs. Goodwin, Koalnl, cte. Afternoon and egening. Hinvrriy’s Theatee. Monrue tireet, corper of Dearhor. Ensagement of Dominick Murray. **Escancd from s 8ing. Mes- dames Etetoan, Heddeld, ete.y Messts. Murray. Keen, ete. Afternoon and evening. Callseum Nuvclty Theatre, Clurkc atrest, bessren Wastiogton snd Randoiph **The loy Defeetlye. WEDNESDAY, OCTOBER 31, 1877, CHICAGD I4AREEL 3UMMARY. Tte Chicaps produce markets were moro active yesterday, cnfedy for Octobwr delivery. 3exs pork eloscd atronger, ot $13,157215.25 for Uctoler und 8! 5 foo Junnary, Lard closed easles, at £3.25 per 103 s cash and 28, 15@0, 19 for Jan- uary.” Meats were ateady, at G per 1 for looso shouiders and Th,c for do ehost ribe, lake freights were quict and easy, atie for corn to Hugule. Whisky was unchanged, at $1.07 per gallan, Flour was quletand steady, Wheat closed 11402 e higher, o0 81,115 eash and for Novemver. Corn closed 1@ 4e lower, at 353%c cash and E34¢ for November, Oats closed o shade firmer, oL e casit and 23%c for November, Tive was o e, Barley closed 1 Mizher, at 10c eaxls 4 tie for Decembor, 1o wero anlet and clowel eany, at 104156 decline, at $4.60 @410 far cotamon to choce. Cattle weat fne vc and wnchanzall | Sheep were In good de- il wery fra, U85 094.50, Last Sature 10 stor I Uk cify GRO, 210 bu enmm. JXLTI0 bu onte, 4 b arfey. Toral, 1,891,- doerese af <24, 430 bu during last veck. Milwankee wareotses contatned 200,080 B wheat, Inepeeted St wtor$ In this city yester- Quy: 435 enrs whe nd 7,500 by corn, 02 cars ond te 15 carsand 1,000 ha ce. 01 carn and L0.000 bi burley, Total (o GJE L. One Lundred dollars in g wonla vay €10 % I greeavacks at the close. €10 by, betn? Greenbacks nt the New Yoo yeaterduy cloved at Tufty thowsand peoplo turned out at Riche mond yeatordny to welsone the Presidential purty. Heerotasies Bvanss, Siconas, and Tioawesoy recompnuy the Prexident ou this brief excursion, A sensation in brse.ball eireles will Le ero- ated by the announcement that tho Dircetl ors of the Loaisville Club lnst evening ex- pelled four of the most prominent_playors in the country for selling games, disobodience of orders, sud genetnl anlscondnet, — Presidont YIavzs iu clafined by tho Massae chusotts Republicans ns a Republiean after their own hearts. Tho State Central Cow- mitlee, in an adlress to bo published to- day, call upon Masenchusotts to be true to the platform of prciflention and reforn;,— policies to which (he Republicans of that Btato wore committed bafore thoy wery mado national Ly tho President and his Ad. ministration. —————— As nearly as can bo ascertaiued at presont the Ways nud Means Committee has nino revenue-tarill men and two protectionists ; the Bavking and Corrency Committeo fonr hard-nioney men nud seven who in various degrees wonld be called coft, or at lonst anti. bullioniuty; and the acifie Railread Com- mittea neven who are understood to be hostile to all subsidics and six who are fricndly to the Texas Pacifie scheme. Fouriean million buahels of grofn hove. entered alo harbor during October, B agninst vxnctly ialf that ammount during Qc. tober, 1876, Durinyg tho presont weason of ipation the Unialo recoipts have footed up AL busliels,—au fnerenso, by cotg- parison with Iaat yoar, of 13,000,000 Lush- els. ‘Theas enormona aggregates, trang. perted by lake alone, must furnish straws enough to show the most dopraved growler which way the wind is Llowing, —_———— Froar, the Democratie candidate for Con. #ress 1 the "Third Missouri District, bas beon beaten in the Snpr.mo Court on Lis appenl from the dacision of nlower court in favar of Meroarrr, thy Republican contestant, Fuost’s nezt appeal will bo to a court of final jurindiction, and where neither the evidenay uor the merits of o cwvio have any nfluence upon the decision, e will try his Juek with the Dumocratic majority in tho loue nt Washington. The Democratie Campaign Committes struck a hard citizen to impose upon when they undertook to hondwink Police-Superiu. teudent Hickey on the subject of ballot-hox frauds. Nobody knows better than Hiccey that the thief a3 he runs will jolu in the cry of *+Stop thief!" in tho hope of di- verling attention from himself, nud the only effeet of Kevoe's lotter will Lo to put the polico on their guard ngaiust any new form of election rasculity which the Democratic artists ay have invented for this occasion, ‘The nomination of Jous Wersn as Min. istor to Eugland was thoe result of tho Presi- deut’s own preference, although entizely sat- ininctory to the Cabinet, A number of Phila. delplia business men visitod Washington o few days ago sud urged upon tho President the name of My, Wresu s that of a gentle- may cipecially fitted to Al the position, and whore uclection would bo plens. ing to the puoplo of Teuusylvanin, Mr. Wezss himsclf! has invarially been averse to pablic otfice, gud it s said ho will decline it auy cousiderable opposition to his coufinnation iv wsnifested. ‘Tho worst that tho CaxesoN clan can find to soy of bim is tisat Lio is not a machine politiciun, end that Lis nomination will not bo of any servico in helping the Republicans to carry the State in Novewbor. It s doubtful, however, whether they will go so far 83 to actively oppose hiy confirmation by the Senate. The latest files of the London 7'iwmes bring more encouraging nows from India. ‘Thero has beou general rain all over the districts in néed of v The distress is daily lessening, and the numbers in receipt of relief are rpid. Iy falling off. The 7¥mes of the 16th inat. eays: ** Tho spring crops are tolerably well secured overywhore, and it is possible now to assign n definite date at which tho famine may bo expected to be over. By February next, if all goes on well, the stricken districts will have gathered in n supply of foed suffi- cient to reliove them from all immedinto want, and they will bo restored to something liko their mormal state of woll-being. In some places the recovery will be more rapid. Of others, we may alrendy prononnes con- fidently thal the dangor which threatened them has beon averted” Tho favorable news ceewa to have been received witha genernl brenth of relief by the English peo- ple, who thus find themsclves no longer tronbled with o prablem apparently too difi- cult for huntan wisdom to solve. The Prosident has nominated as Ministes fo Eugland Alr. Jony WrisH, of Phila. dolphia. ‘The nomination will be & surprise to the conntry, but it will not be the less gratifying, Mr. Wersm, while o Repub. lican, hns not been a politician. He isaman of nbility aud of lesrning, and a mou of wealth, and nblo to benr the extraordinary expenses of the ofliee. MMr. Wersm is, wo beliove, of Quaker origin, Tho nominua- tion has o significance that cannot be overlooked, It indicates the firm- ness of tho President in moking his own selections without reference to the dictation of Congressional cliques. 1lo has not ap- pointed Mr. WeLset at tho domand of any of the factions of Pennsylvanin politiciaus; he hins selected 8 man whose lifo, Lins been devoted. to honesty and integrity, and especinlly in behalf of an lhomest and faitbful administration of the Government. ‘I'ho frowns aud threats, tho sncers and jibes of disappointed oflico.brokers have not wenkened the President’s purpose of mnking his own appointments. Tho Democratic Ring in the Connty Board is doing its sharo toward socuring a victory next Taesday Ly koeping bLack the list of Jjudges and clerks of clection and of voling- places to so lata n_day that any revision of the appointments will bo attended with great difficully, if not altogother impossible. 1f the vote shonld bo a cloge one, the manipu. lation of roturus so ns (o show the election of tho Democratio condidates would be o compnratively casy matter, and thero is bardly a doubt that the County Ring will make provision for sach an op- portunity in the choige of clection of- flcers. The Republicans, however, cven it denied a falr representation in this matter, will uot be altogether at tho merey of the Ringand its crentures, They are perfecting plans for extraordinary vigi- Iauca nt tho polls, and if, as now seems prob- able, o full epublican vote is cast and binnd- rome wnjoritics are obtained for the ticket, the chances of beiug cheated out of o victory will bo be materinliy decrensed. Dut it st ba remambered that tho Ringsters are netive and sleepless, and that wothing less than hard work, closo watchfulness, and the turning out to vote of cvery mnn intereated in the ntecess of tho Republican ticket will carry thoday againat the manifold ndvan. inges possessed by the enemy, The speech made by ex-Gov, Tinpen last Haturdny on his return to New York was one prolonged whine,—tho outpouring of the pent-up gpite, disappointment, and rage durlng several months of silonco in the ob- scurity of a European visit. 1o followed his organ, the Now York Sun, in denonncing President Haves as o fraudnlent President, and appealed to tho worst partisan passions of the Democrata ii telling them that they, o8 well ag himself, wera rabbed of the offt. ces. We have no desire to follow Lim in detall; tho grouud has been trodden too aften. Wo ouly wish- to remind ox-Clov, Teoex and the persons whom ho sesks to nrouse to futuro ellorts in his bohalf that o much older, bolter, and more respected Democrat than he, an' nbler lawyer, n mon of groater historic prominence, the lender of tho Southern States, to wit: No less n por- son than Arcxavpen 11 Breemiys, the Vice. Presidont of the late Confederacy, d'sposed of 1ihis wholo controversy In a sentonca whon hoenld that Mr. Havzs hasa better titlo to the Presidency than any of his pre- dacessors, for tho reason that nll tho others hnd mevely o prima fucis clalm, whilo Mr. Haves assumed the ofiico under tho direct authority of law. To nicn lika Titoen the streugth of thils title should be angmented by the fact that this Inw was passed by Temocratio votes and its operation confirmed Dy thent T0 THE LOCAYL DEMOCRATS, Wo will assume that, politieally, Cool County is rathor cvenly divided bLotweon the Democsuts oud Nopublicans, Last - fall, whilo the candidntes for Governor ran about oven, Mr. Tives carried the county by 2400, and Krenx, the Demooratic ecan- didate for Sherilf, was elected by *‘a large majority,” and the Ropublicans olectod tho other county officers by an cqually large wmajority. Under theso circumstances, we can concelve that a Prosldentinl, State, or Congressional elcction, involving the status and jucy of the twa parties, should bo hotly contested on partisan grouads, each striving for politicul supromacy, Hut tho local elec. tion of next ‘I'nesday Is n very diferent mat. ter. Not only doey it concern the adminis. tration of local affairs oxclusivoly. but it is recoguized ax n dosperat struggle on tho prt of certain disroputable tax-squandering polilicians 1o retuin thoir Lold upon tho Couuty Govorntaent, which has been notorl. ously munsged i the juterest of u corrupt Riug. 'Theso wehiemers, under tho leader- ship of “Yoss™ Lies, aud wmalnly through tho ageucy of his clorks pald out of county monuys, obtained control of two of the lo- cal conventions, the Industrial and tho Demn. ocratio, and dictated tho nowminations, "Tho rospectable clement of tho Democratio parly was shoved Lo ono sido sans ceremonie, and the management of the Democratic cam. puigy wos placd in the bouds of Dave ‘CuonytoN and his govg. Democrats of churncter, of whom Judge Wartace (the candidato of tho decent Democrats for Counuty ‘Freasurcr) is o fuir sample, had no voice in the Couvention. 'l'wo or thres roputable men were placed among the candi. dates for the Couuty Board in order to carry (brough ona or two others who are of doubt- ful integrity, aud one ‘who will pretty cer- tainly Loa willing and octive tool of the Ring if elected. It isuald that ono of the Densocratic candidates for Connty Commis- sioners actually does not know Low to read or write. A County Contral Committee was elected that should disgraco any party sud suy city in the country; it consists of doggery-keepers,“roughs, and bummers, ond Lizn's clerks; one of the mewbers originslly chosen lsy in the County Jail for soveral months on the charge of burglury, aud borely escsped the Penitputiory. The uowination for County Ureasuzes was given toaman who made his money in whisky operations, with the underatanding thnt he wns Lo npend his money freely to carry Lizn and the bummera through. In ona word, the respectablo men of the Democratic party were betrayed into the hands of Chicago's worat element, inelnding all the scum who attached themselves to the CorLviv regime, all tho rasenls who have been associnted with the County Ring, all tho repeaters and ballot-box staffers that were involved in the Town frauds, and nll the vicions and {rro- sponsible elnases of the commnnity. What interest has a law-abiding, property- owning Demoernt of Cook County in sup- porting o vicions and corript a combination ns this? What claim has the gang. run by Lies, LyNcn, and Dave TizonsToN, upon any Democratio taxpayer of Chicago? What party advantage i there to bo gained from tho success of this gang? Will it not be for the ultimate interestof the Damocratic party, ns well as for tha community at large, that theso fellows be whipped back to tho rear? Can the Democratic party In Cook County hope for any permancnt hold upon the con- filenco of the peoplo when reprosonted by tho class of men who now control in this campaign? Will not their overwhelming defeat be a party gain to the Democracy ? Respectable aud responsible citizens who vote the Democratic ticket on national issues connot submit to tha dictation of a corrupt Ring nod its dopendants in Cook County withont doing thomselves great injury in- dividually, nor without bringing their party into disrepul RANDALL'S REVENOE. Spenker RaNpait has had his revenge, Two yenrs ago ho was a candidate for Speaker, but as this was before tho Presi. dential election, n portion of the Deomocratic members thought the credit of the party wonld bo best promoted by tho seloction of Ar. Kenn, whose record was without taint or susplcion, and so Mr. RANDALL was de- fented in tho cancns. RANPALL has now not only taken his revengo upon those of his party who opposed him this year, but also on thoso who defostod him two yenrs ngo, ‘The two conspicnous victims aro Monnioy, of Illinois, aud Cox, of New York. In the last Congress Monnisox wad Chairman of the Committeo on Ways and Deans. Raxpawy not only bnrled him from that Committee, but buriad him on the Committeo on Publie Lands, while Cox, who, bacause of his long service and his faulinrity with parlismontary experiouce, hna beon invariably on tho Com- mittee on Rnles, and who was last year Chalr- man of the Committes on Banking and Currency, bns been deposed from Lotk Com- mittees, and put nsa momber of tho Joint Committes on Library, This Committeo lins, by some peculiar construction, jurisdic- tion over tho Dotanical Gardon at Washing. ton, and the principal busiuess of tho mern- Lers is to issuo orders for Louquets, Ileis placed, also, in a suberdinato position ou the Committeo on Foreign Affairs, of which Com. wittee he has been Chaivman, It is unqnes- tiounbly true (hat Mr, MonnisoN was active in promoting Kenw's election, and Kunn gentified the country generally by refusing all appeals to pat FEnxanpo Woob at the hend of the Ways and Means Committee, and did put Monnson, who was quite a dif- feront kind of man, in that important placo. 1taxpary given ndditional pointto Monntsox's dismizsal by appointiug Woop to that Comi. mittee, ‘The harmony of the ITouse, or of the ma. jority of the Ionse, is not likely to bo pro- moted by the Speaker's maliclous punish. ment of tho rival leaders, It will rovivo the old division in the party on whioch turned the cholee botweon Kenn and Raxpary in 1875, At that time, as now, every man who favored n genoral or specinl plunder of the Treasury favored RRaxpaLs, while tho bettor and more conservative mon favored Kenr, Ranoaru's faction is now in tho ascondant, and Low trno he hna been to his faction s shown by the composition of his Committecs, There is no job of any kind which moy not expect o favorable hiearing and report by these Com. mittees. Ir. RaxparLlins evidently ignored experionoa and nbility, nnd apportioned his Committees 80 as to give the Southern Dom- ocrata and his own Northern faction the con- trol of all the business of the Houso. BTORRS ON THE BING. Mr. Bronns deseribed tho powor exercised by the County Ring during the courso of his speech at the Farwell 1iall meeting on Mon- day ovonipg. 1o bas had oceasion rocontly to estimnto its strength in endeavoring, along with tho Btato's Attorney, to convict somo of the men conneeted with the County Goverrmont. The Board coutrols the Grand Jury and the Potit Jury panels; dictates larguly the appointment of balliffs; has its employes that have an entrance into the Htato's Attornoy's oflce and all the other departwents; runs tha County Clork's office with tho co-operation of so ready o tool ns Liem, and super- visos overy branch of tho legislative, exocutive, and judiclal governmont of the county. A corrupt County Bourd may firat rob the peoplo aud then pravent in all casos the punistuncnt, and ofton even tha triul, of the agonts whom it selects for plundering thoe public, Mr. Sronns says truly when ho asserta that ** eriminal juatico eannot bo ad- minlstered in Cook County aa things now stond,” Democrats, who have property at stake or who desire to uphold public morali. ty, can certninly discover in this cxhibit no inducement to stand by tho bummers who have posseused themaelves of tho locs) Dom. ocratio organization for thelr own vile pur. posea, ' Tt became necessary n couple of yeara ago to rescuo the City Government from the same gang of plundorers wlio are now soek- iug to retain thoir clutch on the Couuty Gov- orument, ‘Thoy had theu, as now, captured the Democratic organization, and sought to proatituto it to their vile purposes, It be. cama necessary to combat them through the agency of tho Republican parly, The repu. tablo Domocrats joiued tho Licpublicans in puttiog down the mob that sought to retain its hold under tho nome of tho Democratic pasty, and the result was an overwhelming victory for Reform. Tho entire property- owning, law-abiding, sad business popula- tion of (licago have shared tho beonefi- cent consequences of that victory; and if the Democrats will stop to think of thu matter, they cannot fairly chargo that the Republican Couucil, then elected,have wada unything like o partisan use of thcir majority. Tho various depart. wments bavo been maxaged in the iuterost of the public, aud tho patronage hns been used with reference to eflicloncy in the service and econowy of espenditure. The saviug Las besu a round million of dollars a year, to soy nothing of public credit. Now thiy i3 precisely the aim and ambition of the Hopublicans in tho county campdign, and there is the same reason sud 1notive for the co-operation of tho respectsblc Democrats now that there was eighteen montha ago. There is no partisan advantage to bo gained or sacrificed, If the Repub- licaus elect all five ‘of the Com- missioners thoy have named, tho County Board will atill have a Democratic major. ity. Messrs, Avans ond Sexwe aro the only members of the present Bonrd holding over who may be classed as:Republicans. Tanor Laa voted with the Democrats in the Bonrl, and Frrzoerarp, Coxny, CrLEARY, Muortor, Drabtey, Horryaxy, and Lexzen (eight in nll, forming a majority of the Bonrd) are straight Democrats. Reform, aud not party ndvantage, is tho object the Republicnus are secking to sssnre, It in cortain that Mr. McCrea will manago the office with tho same fidelity that Mr. Hocx has shown, Mr. Kroxxe is pledged to save from $40,000 to £30,000 o year in the ox- ponse of the County Clerk’s offica as com. pared with the administration of Liep, the bummers’ candidate, Messrs. Srorronp, Meyen, Burrina, Horss, aud Wnzeren can, every one, be implicitly truated to oppose tho Ring, nand the election of nll of them will brenk tho Ring power in the Board. Every conskderntion, therefors, whether of public intercst, party reputation, or self-respect, should induce tho *reputablo Democrats to voto with the Republicans next Tnesday, and thus drive the bummers out of active polities in Cook County ns they havo already beon driven out of city politics in Chicago. THE LAW OF PANICS. Tho New York Nution, in its last issue, has an articla upon the **Law of Panies,” in which tho writer trents the general subject of panies both iuterestingly and ably, but without discovering any well-defined Inw. He locates the epochs of panics in dif- ferent countries, fluds n cause for them in overproduction and exchange, and recognizes tho signs of recovery in the returns of the Clearing.tHonses on the ono hand, and * n sharp demand for money indicated by a high rate of interest and n plentiful isaue of bills for dlscount " on the other, but ho gots no nearer to o law than this, [f ho had traced his cause o lttlo deeper, ho might havo hit upon the conditions of a panic which in themselves ruggest a sufliciont law by obadi- onco to which panies conld bo avorted. Tho primary and most direct condition of all panics is the Inordinale disposition of Americans and Englishmen to get into debt, They borrow money right and left. Thoy do their business upon borrowed capital. They buy deoply on cradit. Making Individnal application of tho old sny- ing, that n national dobt is a national bless- ing, thoy rush into it hond over ears. Thoy buy property upon which they pay only a sunfl margin, They take risks upon the most slender basis, Thoy speculate upon hope, not upon nctual values, They havo little cash in their pockots, but plenty of pa- per overywhera. Mot having much at risk, they arguo if they win thoy will make a for- tuno; if they lose, it will only be a little and will not hurt. So thoy take chauces on overything, from moonshino to matters of solid valua, Tho tendonay to bot and gam. blo upou margins and to keop in debt amounts to n mania, and is as positive n dis- enso ng whisky-drinking, with the poculiarity that it is coufined to tho Baxon racos,— Amerien, England, and Germany. The Lating, the eighty million peoplo of Franco, Italy, Bolgium, Switzerlond, and wa may include Holland, do wuot tako risks cx. copt in small degreo, consequontly have no panics. They are cautious, afraid of debt, ond do not speculate rocklossly on futura chances. Americans and Englishmen nro natural born spevulators. They ars reckless of consequoncen and daring by deliboration, The Frounchman s naturally impulsive in ovorything oxcopt monoy matters; tho Sason allows his cupidity to overroach'his judg- ment. The Lutin peoplo, not runulng into «abt, oro not liablo to panles, 'They live, ns it were, in fire-proof houses, whilo tho 8nxons, nlways in dobt, ara in wooden houses, linble to catch from a spark, and bo swept nway past redomptlon, 'Thero hava b2en hundreds of special reasons offor- ed to nccount for our pantcs, but peopleare al- ways averae to offering tho real roason or to resolvo to avoid tho couses which will cor- tainly lead to a repetition of a panie, This ndds to the despair of the aituation, for whon onca salely through apaulc we aro cuxious to renaw tho circmmnatancos which led to it. We are dissatisled that thinga do not change fastor for specnlativo opportunitios. Wo are not content, even uftor having Jearned tho law of n panic and tho dostruction of values, to go slowly aud accumulate property by gradual aud natural nceration and the prave tico of cconomy, but we must got 1t by a sudden jump, somo brilliant coup, or mag- nificent corner, ‘The mania for getting into exceasive debt is ono bLranch of tho Iaw of panica, but not Wi, When tho panic Is over and we have had o poriod of rost aud restoration, aud property bogins to approximato its normal values, thon we commence to pave tho way for anothor, Now we begin to long for tho spoculative orm agaln, When it nurives and prosperity returrs, wo commenco to speculato as recklessly aa ever, ‘Wo buy for a riso on too uarrow n margin of capital. 'Tho manufacturer Incronses his production for a market yot to come, in antleipation of higher pricos, The mer- chant Luys inordinately, Lvery one lays in more provision than Lo needs, - Bpecnlation growa rapid and rabid, teal estato is bought on mnrgio for a riso. Tho wheols of busl. uess merxily rovolve, Then the workmen, followiug the specnlativo rise, begin to want highor wages. The speculators daro not refuss the domand, becansa they neod tuo workmon and fear the paralyals of n strike, ‘The fucresse of wages bogins to eat up the protits, and the speculator pushes higher, the prices of raw material meanwhile becoming dearer. The mauulacturger acou- mulates stocks enormously, aud bogins to Lorrow heavily from the bauks to carry themn, ‘Cheroupon the prico of money goes up. Real cstata commences to rise, aud tho spec. ulators buy it on margius to soll, Iua fow years, ot this vato, we vemch the dangerous position whero prices aro pushed far above the world’s relative values. In this position wo ara cut off from the power to export, ex. capt o fow casoutinl raw materials, Imports oxceed exports, and the balance of trado is sgainst us, Then we commonce selling bonds in Europe and paylug rwuous intorest, and thus we keep ou, uatil at last wo reach a height so far above the normal standard of the world’s values that the bLottom suddenly tumbles out and down we fall again, Another branch of thelaw of panics, which is veryimportant, is the nature of the contract betwaon debtor and creditor. When a panic strikes & commuuity in which overy other wan is beavily indobted, the deblor must pay in dollars worth moro and representing more property than they did when he incurred the debt, consequently everything gocs by the board, If tho contract system could be so mod- ificd that the debtor could pay Lis creditor in an amount of property equal to that e coived, thero would substantially be no pan- ies, sinco the debtor might satisfy his debt, and then resume withont having to macrifico overything and finding himself an utter wrack. Instend of paying the same amount of valuo that he received, ho is paying brek really in dollars that have, #ay one-hnlf, more purchasing power than nominally belongs to them; aud whereas, when ho incurred his debt he might have eatisfled it with one-hall his property, it now tnkes the whole of it, and he is rnined. If he cannot hold on, he must go down, for thero is no demand for his property at what it is really worth, when mortgage foroclosures determine the market price of all property. If the Nation, therefore, Wonld consider, firat, the tondency of our poople to rush inordinately into debt beyond thoir ability to pay; second, the de. termination of people not to loarn thelessons of n pauie, but to rocommence inflating prices far above the normal standand of the world; and, third, the nature of the contract be- tweon debtor and creditor, and the manner in which that conteact {s affected by pauics, compelling the debtor to pay for mors prop- erty than ho receivad, it wonld find material suflicient out of which to evolve a very com- prohensive and entirely satisfactory law of panfes. MR. GLADSTONE'S VISBIT TO JRELAND, It {8 o curious commentary on Euglish rule in Ireland that Mr. Grapstoxe should now be paying his first visit to that country, When he was Primo Minister he was much {nterosted in Irish nffairs. The reforns ne- complished hy him were tho moat vadical since Catholic emancipation. 'The disestab- lishment of the Irish Eplscopal Church, the TReform Land bill, and Irish education wore among the most important measures of the Inst years of his administration. In all he did, and all he ondenvored to do, he showed nn intelligont sympothy with the Irish peo- ple which argued personal ncquaintance with them in thoir own country, whare only they con b seon under favorablo circumstances, Dut the present tour of Mr. GrapsToNE is made the occasion of the annonncement that hio hias nover seon Iroland. e goes now to obtain information concerning a country whoso destinies ho held in his hauds for many years. The logical order for a statea. man to pursto, ona would think, would Lo to get Lis information first and to do his legis. Inting nfterwnrds; but this conrso scoms nol to have commended itacl? Lo Mr. GravsToxe, The conduct of the ox-Premicr with refer. enco to Ireland is not, it must be confessed, peculiar to him, 1t has beea for years tho practico of English statesmon to get their knowledge of Ireland from books or from tradition. A personal inspection of the country has beon csteemed a3 bold an adven- turo a8 a journoy in Thibet or in Patsgonin. Tho Qucon has been in Ireland but oncd sinco her coronation. Mr. Disnarer has not beon thers for many years; oud wo question whethor any member of the present Govern- ment has o fgmilisr ncquaintance with the tapography of the country, to say nothing of tho hinbits of the people. The ignorance of the English masses on this subject is still moro profound. AMost of the Irish landlords are absentces, and thoy mako it n point to kuow nothing of their catates, Tho English gentry and middle- class people, when they travel for pleasure, go to the Continent; when they want hunt. ing, visit Scotland; and simplo rest and chango of air aro sought in rural England, Ireland is not inaccessible. It presents no terrors to the ordinary tourist, Doyond tho beggars and somo signs of poverty which are mot on all sides, there is nothing in the country to shock tho finest sensibnlities, Somo of tho sconery is as beautiful ns any to ba found in Europe. Thograss isasgreon, tho laken ga Losutiful, and the nir ns fresh as any in Beotland or Norway. The peoplo are hos. pitable and jovial; and, though they have fow mounments or art-treasures to show, they bave natural euriosities 1n nbundance, ‘Whether English noglect of Ircland is due to tho repronches of consclenco or to n sot- tled natioual autagonism it would b difficult to say, aud perhaps not profitable to inquire, Tho fact and its cousequonces are more in. toresting than any attempted explanntion of them could be. Ono of the inovitublo conse: quoncos i that the Irish peoplo are misjudged and misrnled. Tho nation is reprosented in England by wmany of tho labor classes, who have swarmed in there, and occupy about tho aamo positions 08 in tho United Bintes, ‘Tho Trish gentleman becomes English in En. gland, or ceasca to bo appreciated. The connlry is not knowa by a specimon of ita green turf or the products of its fruitful soil. I'io conditions aro tho most favor. ablo that could bo lmagined for tho growth of prejudices; and it is no wonder that the race-feeling Lutween the two countries which ucknowledge ono Government shoull be moro permanont than that betweon any two foreign nations. England hasnever yet been ablo to puruue the policy of absolute confl. denco and geodewill towards Irelaud, It must bo admitted that she hins never receivod much encouragument to do so. But that on. conragement is not to_ba looked for o loug as she misunderstauds the country sho at. tempts to govern. Ifer misunderstanding would not buso great if movo cordlul roin. tiona could be estoblished between tho peo- plo of ‘Treland aud Eugland; and no doubt the tour of so emiuent & man ns Mr, Gran- sTON®, Whois esteomed on botl sides tho Chau. nel, will coutributo sometling to this end. It is to be hoped also that his experience will be botha warning and an exnmplo to the ris. ing geucration of statcsmon, and that uone of them may have In declining yeams to mnke so humilisting & confession of iguo- ranco as has fallen from his lips, The most ‘Incmrh:lblu‘ punster and joker among the professional ward politiclaus In this city bs MiLgs Krnor. Aud one of the drycst, richest Jokes lo ever perpetrated was his writ- ten report to the Democratic Campalgn Come mfitteo recommending the swegring-in of balot- box guards as special policeraen to protect the polls nud prevent the ballot-boxes from belug stuffed by the Republicans! MiLEs, with a face ns grave os an owl's, stated that *‘ho under- atood the Republicans were negotiating with o sct of reprobates who had agreed to do all the stufling sud repeatfog that was pecessary,” MiLEs went 80 fur with his Jittle Joke as to say thae a fuud of $5,000 to $10,000 had been ralsed to carry out this programme ull over the aty, Bays the report* After the moating, tho reporter approached tho setrine. Honon, Cade, ahetet S desits s leara bla wuthority for tho balloi-box wtuilug statement, ventuted tu sk him wlo that declded- Jy-knowing person was. ** " puplied MiLzs, Yol can's give it Lo you now, You sce, | bad it on good authority, but Lefore § give you the min's name 1'll Jook into 1t u littly further, you kuow; wee what thero Ls of It, and then let you know: KX ood deal 1u it, thuugh, you .may bo sure. L"pmdnu bowever, tho reporter has not been furnisbed with the namo of **that wan." 1t suy such fund has been ralsed, or auy such scheme Is in operation, MiLEs kuows very well that it is the Lyxcu-Lixn crowd who are in ft. e 15 not ignorsuf as to the side the Dave Tuonstoxs, Ep PmuLirszs, Miks EvANsEs, aud thelr gangs belong to. Mo kuows who has doue the repesting, ballot-box stusilug, and counting inor countivir out heretotore i this oity, Mirxs o auold and expericuced band at e T E— elections, and he Is well aware that 99 per cent of the frauds cotnmitted at them fn Chicago are verpetrated by his party friends and partissn assoclates. This ballot-hox guard which Mine3 ia organizing fs not honest; it Is o trick to throw dust In the eyes of the Republicans. Let them not fntermit their viglance. R S THE COUNTY ELLOTION. The election fn this county last fall throws very little light on the probable result next Tucaday. TiLDEX, for whom thowsands of Re- pulicans voted under the Influence of the * Re- form-fa-necessary ' cry, cartied the city by 4,071 majority, und the county by 2,102 majority, whercns STEWARD, the Democratie and Ureen- back candidate for Governor,only beat Curtos by 141 majority, thie voto being: BTRWARD (D), and @, 33,178; Crerost (Rep.), ¥7.007. Bt for county offtcers the Republicans elected all their candldates, except for Sherifl, and by majorities rauging from 24000 to 5,000. The Republicans pretty gencrally supported thelr local canal- dates, and thereby clected them. We glve below tho vote cast by wards and townships for (igvernor and State’s Attorney. Mitrs and JaMirsoy were both young men,— popular in thelr respective parties,—~and eacls re- ceived pretty nearly the avallable strength of his party. Alout 5,000 Republicans voted for Tipey’and ball that many for the Democratic Stute ticket, but most of them supported the Republivan Cougressionst and county candi- dates: Governor, |:Stale's- Al'ey. city. Cui- | Stere Var ” Tom. | ard. | 3ntts, Flrat Ward, L 010 Second Ward. “Third Ward Fonrth Wand., Fifth Ward.... Szt Ward,.. 5 waed Elevent! ‘Twelith Thicteenth W Seventeenth W Eghtcenth Ward Luk Lak ., e View..... 102 173 , 014 1t will be scen that JAMIZSON'S majorities in the Filth, Blxth, Soventh, Elghth, and Beven- teenth Warda wero very heavy, and rather Inrgo In the Tenth, Fifteenth, aud Sixtcenth, Ho also carried the Fourteenth, maklug nine of tho clghteen wards, He also ran strong in Lake, Lemont, Nlles, and somo other towns, and yet he was defeated by over 4,000 votes. —— .. The plow-share and the pruning-hook are turning over and cutting down the barbarous beautics of the old battle-ficlds. A correspond- ent snys? The ULottle.fields around Richmond are quiet mendows now, reclaimad by Nature, with few »igns of the days of **vlood and frun." At Cold ilurbor, Fuir Ozkw, Boven P'incs, and Malvern Inli, one seen litle to remind him of the terriblo-scency enacted there twelve and Oflven years azo, 1In the wouds and on lilisides and river blutts in the Po- ninaula, where no aitompt has been made to culti- vate the land, sloping earthworks are: still to bo acen, but elsowhero tho Intrenchments hisve becn leyeled, Below, 'uluil)unflll!mlmlew truceauyen of xuch furmi€avlo fortlicatlons as Steadman, Hell, and Damnation. The Craler and the elds sround §tare owned by Mr. Gniveitis, who wiia bory close by, and was 1t Petersburz when the mine was fired, ‘Hle has bullt & huuse near the Crater, und now has hls father's fann undor excel- lent cnltivation, The Crater itself has been loft nlmost ched, und u tbick underbrush of peach-tre nd sprouts Las sprang up from the pits thrown away by the soldlers during the siege. Pue ravine where the dond lay In great lieaps on that terrible worning has boen brought under the vlow year. after {t.'nr. tntll now only o sllght de- presalon in the fiel Lo polnted out, The vie- ftor has to pay conts for o glimpse of tha Crater and the interior of o shed stocked with Late He-relics. e Lika all countries burdoned with o royal famliy. Drazil guda fanlt with the wize of ts civil fist, Thu Emperor 18 allowed $400,000 per Aunum, the Ein- prons 316,000, but a@ they. aro ul i the distribution of thevo sums there s no fii- clination to grumble on that score, To the Prin- cess Impertalan nllowance of $75.000 per annum 14 made, Exception ls entered at' the puyment of 4,004 for (e sepsrato eatavlishment of (ho infant rince of (rand_ bar, at $57,500 ta tho wealthy Duke bi 5AX¥, §3,000 cach 10 bis four sonw, aud 8140, 00 to the Princesg JANUARIA, who 18 marned 10 un Mtallan Vrinco, who i suppoited by her daw- cr, and 14 always In dificultles, 1n one of waich the Loudon Leation paid 412,000 to vet rid of an cxccution on hin turnlture, & sum which the noble Kentluman bas not repald, aud showe no intentivn of duing, although up to this year the Princoay re- relved §72 a year from Brazil, throuch the fiction that the tilustrions coupla were merely i temw-rury sojourn out of Brazll.—Chicugo Jies. Will the author of thu laat sontencs 1n the quoted paragraph pleaso ship hlmselt C. 0. D, o the Academy of Svlences! 7 ——— Fearing an epidemic of fire nmong the public bulldivzsat Washington, the New York Triune glances ut * tha risk of carrying on the busincas of printlng bank-notes and stamps in the Treasury Bullding ot Washington. Great care, contlnually excreised, may prevent a fire there from dolng much damage, but the Uabliity to fire s o nccessity of the business. Tho rags used In_wiplug the engraved plates, being sat- urated with ofl, ars pronc to spantancous com- bustion, The printed paper has to be dried by artiticlal heat, Evidently the Trensury Bulldine Isuo place for such processes, ‘I'ne superior cconomy with which the Bureau of Evgraviug ana Priuting hus been manazed is, io fact, the only excuse fur having such o inanufacture cer- rled on by the Uovernment instead of by private euterprise.’ . a nd ond thoaghte e ——— — ¥ ‘The most extraordinary reasou ever given for bolting is that atated by Dave Hassionn, [o declares thiat hie was sold out! 1lle hod bought delegates with moncy, It would seem; he bod packed the Convention, as he liad supposed; be hud invested cuvugh monty to purchase a nowination, ns hebelieved. But, when tue delo- eates camie to voto, an overwhelinlug majority of them supported McCnxa, who had not spent a veul, or triul to lufluence o slugle vote In the Conyentlon, Thereupon Mr, HAMMOND bolts; Dbolts becnuse the delegates whom he supposed ho had purchesed decliued to vote for him. Daoes hie not occupy & highly honorable attitude before the commuuity ! S retre— IleNny Buou, who has alwaya recelved some sympathy froin the peoplo tn his cfforts au be- hall ol abused aulmals, scets to think himeelt almost omalicient, and bis oplulons upon law, decency, aud order entitied to Tespert and con- slderatlon beyoud anything clse terrestrinl. Dissatistied with a decision rendered by o New York Justico in a case of alleged cruclty, Beran wrote @ letter to the Judge, sharply critlelsing Lis course, whercat the Judge let into Mr. gnau the next time be turned up, adminlsteriug o severe and well-merited rebuke. It seems little strango that & philautbroplst snould, tn this advanced day, be a valsance, - eenti——— A pretty good yarn, fovolviug a graud trons- formation sceue, i3 told ju connection with Massachusetts polities: When Gov. Gsusy manazed Masaachusells, & country deacon bappened Lo catch a Bno salmon, and, kuowing that the Governor had a particular likiug for that soct of 8sb, bo determined to pre- Botbe saluion wad carctully packed, 3, 10 4o 8bscaco of rullreads, startcd 10 bis wagon for Tioaton. O the Journey he D e T o the Joneh et reeard to the flsh, & practical joker present crndy mot reslat the templation of ANPRIAE out to thy ®n20n And ehanging the salmon £or & poor codfisk, The unconecioun deacon tent an 1o thie {ivye ernor's housc, and, nfter unnonneing his 1 two worthles openeil the hotrand discove finvoroun codfiah. Mortified, the fwor dncon #tarted for hoie with his codish, And ntopping for alnnch at bis dining-place the wai secretly 1o moved Lie codfish and replaced tho aslmon. When he reached home, the deacon wonrnfally told the #tory to an_ incredalous wite, who had herselp ]‘:_ue'-md the salmon; they. n‘mmi the hox togother he descon stared, **ivell, yon are n pretiy vood salmon when you are in the conntry,' ul{l ey “+hnt when you are In lloaton you are'a mirarabie codiah, By the way. that isabout WENDRLYL PriLLips posttion fn the Uubernatorlal race. Bk il Those gentlemen who arc couflldently prophe. sying a ehort specfsl eesson of Congress wi be astounded by the report of Monday's work, Elght hundred and fifty bills were fntroduce), and, assuming that they will all be reporteq nmi read, we find that, allowing twenty minutes to the roport and reading, and forty minutes for roll call, the mere taking of action on the wholg will consnme—averaging each sitting ot fiyg hours, as on Monday—850 hours, ar 170 days, or fiye months and ten days. This computation does not provide for debate or minority reports, and assumes that cach measure will be taken up dusiog the session, * e — The recent scssion of the English ChurchCon. grees fa over, and yet the Englsh people ara not happy. From the descriptions of what wag not dono at the Congress that appear in the En. elish papers, it scetns liko very many of our oxn Church gathorings,—all talk. The London Time £ays rather severcly: “If anybody lodks for cither some pnlpable advantage, orsome new dJf- rection of Churci: affairs, or some ald to histn. telligence, or fome lightening of burdens, or some removal of difliculties, hefs Tikely to be disappolnted.” i i If the County Clerk’s ofilce were condlucted as o prinlent business man manages his own busincss, the cost of it would be reduced aboyt onc-bnlf. Beat Lizn, and it will be reorganized, aud cease to be an asylum for ward loafers and partisan bummers, who eat up the hard-carned taxes of the people, and render slovenly, fnae- curate, carcless, aud blundering service In re. turn, —— The New York Aulletin prints the followlag at tho head of its cditortal columns dally: Tases of New York City, 187 Taxes per head in New Yori Taxesof anl:;n....u»- . Taxes per head In London. ‘Taxes of Paris + $4.400,000.c0 "Taxea por bead (n 17,50 Whey asked to point out a single reform Inbls adminlstration of the County Clerk's office, Tazn replies, with pride, that o has taughe Peren HAND to write, and on this he bases his claim to four years more In which to teach Prren HAND to sp % Tho questlon that unow agitates tho local Democeatic mind s, Would a man who solil out his brother distlllers to tho Guvernment scil out his party, or even his countrymen, after he had no further usc for themi 5 — Qen, laco looks upon the ofilco of County Clerk as a sort of jeck-pot, to bo openwl by the man who can show tlhic most knaves. His army experlence in poker kelps him some in this game. Will Lyncit explain the difference (in amount) between an pssessmont by a Democratic Com- mittce aud an assesament by the United States Government for * unreported " whisky? | | A soldier’s pay wis 813 per month,—quite & littie pot {n the courae of a eampalgn for a Brig- adier to take in through the sinuosities of the fascinating game of poker, | Wil My, TiLoan, {o bis Iorthcoming Thanks- giving proclamation to those who think he was clected, sclect the date choscn by President Haxzsi . | Mr. Lizn's demand for a committee to exam- Ino his books is nceepted. Mr. KLokxe will be appoluted by the people next. Tucmn/:. PERSONAL, Tho Chineso Embnssy at Borlin have takea 8 housc at Derlin for ten years, This sccms to fae dlcato a prolonged stay, A correspoudent of tho New York Times objects to the descriotions of the symptoms st tending the death of Milo, Titivus 0 contrary Lo 2} rules of professional conrtosy, Sonntor Morton's son Johu is now dnnger- onsly 11l on the Tsiand of 8t, Paul, In tho Terr- tory of Alaskn, 1lis wifo has goue to him, and it fs ot probable that thoy will be able to return to the United Stated before August next, Mr. Joaquin Miller saya the Dilly Piper of his **Danites" {8 8 truo pictore of imael? and bis lite whien, ns o boy, ho had run away from home, and, aficr escaping from tho Indians, lived amony the miners, All tho people of the play ho declares aro real, The scerctary of tho Prineo Imporial writes to tho London Times fhat Lis Imporlal lighness has not been out of England atnce bis returu from Italy In April last. The report of bia recent visit to Belglum and Btrasbourg la conse- quently falve, Tho New York Post veturn to its attack on I'rof. Northrop, of New laven, who ls Cole lectos of that port aad Profossor of English Liter- ature at the same tiwe. 1t Is probabdlo that b will soon be asked to confine himaclf to tho dutles of one uifice or the other. Dr. Bchwelnfurt, the woll-known African traveler, fs about to return 1o Afriea, and toe rea- son ho assigna for this Intention ls, that be *'is’ not sble to support the Berlin climal Jtagtulr describes this na ** the ernclest blow evor was atruck at the reputation of n town. " A noblowan proposed to Beribe to nsso- ¢late thelr mames on the (itle-pago of a play, the underetanding heing that tho former whould bear the expenses of the iret representation snd the lat- ter @0 all the Iterary work, Scribe replied: **8ir, I have never beem nccostomed (o harness together In my carriage a horso ond an asm; I am therefore unable to accopt your vory kind otfer. The noblemsn closad the coirespondenco with: 4+ Monsfear Seribe, I recelved you nole of refusst to unite our literary labors. You aro at Jiberty not to understand your own latorest, but not to allow youryelt tocall mo a horwe, " | Ismail Khedive is a man of about 48 years of age, under the middle height, but heavily snd squarely built, with broad shoulders, whicb, dur- iog tho last year, scem to have become Lowed down by the heavy burdens imposed upon bilnl.. i under which be has so manfuhy struggled. face is round, covered by & dark brown closely clipped, apd short mustache of the color, shading & firm but sensual mouth. 1 regular, heavy ri . His oyes, which he keeps halitually halt ed, In Turkish fsshion, usetinues closing one entirely, aro dark and usu- ally dul ut very penctrating and bright ot times, ‘when ho shoots & sudden sharp glance, like a ash, at hte Interlocutor. 1lis faco is usually ssex- pressionless as that of tho Sphing or the lste Na- poleon L1 The London T¥mes velates the following in connection with & report of Mile. Titlens' funersl: $+Tlere was gathered 8 mobof the worss descrip: tlon,~coarse, noisy, and tlotous, such asis prob- ably met with st & race-course. Tha behavior of theso unwalconie visitors bafes description, end you must allow a foreiguer o ssy that if the Jowst clauses are composed of or even contaln such ma- tarial it woold ba better 10 close the gates of & churchysrd on such su occasion, snd admis by tickets only, as was dono at the chapel. Even the fact of adumittiog ouly respectably-dressed people would Jimit the crowd and excludo those who ouly come for & bad parpose. Close o me dve men of ‘the worst description wat on & beautifal masble monument, trylog to shako the top part with all thelr might, avd on the otber side men weiv scratching & marble cross with thelr hobpailed boots, while others were breaking the branches of . trees which obatructed their view, and shuutiog sad lsugblag were heard ou all eides. Thero Wary oaly a very fow pollcemen, and these must bare bee powceleas, or 1t would pot bave hsppened that round tho grave peaplo stood on the too uf oue anotles in sich nawbers that there was constdesss blo davger of tholr fallwg lut it.”