Chicago Daily Tribune Newspaper, November 23, 1877, Page 4

s M THE CHICAGO TRIBUNE: FRIDAY, NOVI JMBER 2% 1877, Thye Tribwne, TERMS OF SURSCRIPTION, BT MALL—IN ADVACE~TOSTAGE FREFAID. XP Shre Fuluany i Week Tasteor W) e copy., e Ehbar Tl Efecimen copies rent tree, Glve Post-UM.ce cddress n full, including State and County, Remitiancen may e made efther by draft, express, Fom-Dlice order, orin TrRIeTTd letter, #t our ritk, TERMA TO CITY BUDSCRINERS. Tally, delivered, Sunday excented, 25 cents per week. 2a03. dcilvered, tunday incinded, 30 crns per week. Address THE TRIBUNE COMPPANT, Corner Madison and Dearborn-rta., Chicago, 1l oréers for the dellvery of Tng Trinusyat Evanston, Enklewood, and liyde Park left I the counting:room wilireceiye prompt attention. TAMUSE McVicker's Thentre. ton etrcet. beiween State and Dearborn. tan, oF Woman's Last Love.” 1lonley’s Thentre. Randoiph etreet, between Clark and LaSalle. Fogagement of Fryer's Opers Troupe, **Lucrells Norata." Tinverly's Theatre, Monroe ireet, corner of Dearbora, Engagement of Mile. Zoe, '*The French Spy." Colisem Novelty Theatre. Clark street, tetween Itandolph and Washington. Varicty performance, Afternoon snd evealng. Tho Tabernacles Monroastreet, hotween Market and Frankifn, Sune day-School Coneert. Methotiat Chureh Block. Comner Clarkc and Washinaton atreets. _Lecture by Abby Esge Iiichardson, Suhject, nkspeare.” SOCIETY MEETINGS, NOME LOPGE. No. 504, A, F. & A, M.—Speclal Commnteation (his (Friday) atfiepnnon’ at 4 o'clock, Ve F. L. Degree. Mated Comnnication 7:0 gitlneic this, cvening for work on the M. M. Uesree, Isfung bret Alwayn welcome. order of the ter. a5 TERIICK, Becretary. QIIESTAL LODG! 51, AP & A M.=THall, 122 Lasalle-st.—fue “ial Communieation this (Friday) evening At 7' rcluck for work on the . Degree, Pianrs cordully tnvited to altead, N order of, 116 Masler, TudKEIL sec's, WAUBANSIA LODOE, No, 160, A. F. and A, M.— ar o unieation this V'rldn?l evening, at M. Monroowst. Work on F. C. Dearee. HOWELL, Sce'y. FRIDAY, NOVEMBER 23, 1877, CHICAGO MARKET BUMMARY, The Chicazo produce markets were stesdier yea- terday, with a fate volnme of business, Mees pork closed 3G 10¢ ner brl lower, at 3110521200 cash Bnd $12,07146¢ 12,10 for January, Lord closed fic per 100 1hs lower, at §7.85 cash and §7.K0D7.8215 sellerJanusry, Meats were casler, at iie for boxol shoulders and O%c for do short ribs. Lake freights were quict anil steady, at dc for corn to Bufalo. Whieky was auoted at £1.08 per gallon. Tlour was steady. Whent closed 4@'ic higher, at £1,001¢ for November and $1.07 for December. Corn cloned e higher, at & for November and 42Yc for December. losed firmer. at 2hic cash and Ryo was nn- chanved, at Darley closcd easler, at e cash and fi3c for Derember, Hozs were falrly nctive, and abeut steads, selling at 81352563 for com:non to extra. The cattle market wan qulet snd unclynged, with sales on A basisof 82,002 5,00 for comuon to cholce. Sheep were dull, at £2.7024.0). Inspected Into storo in this city ormme: . 150 cars wheat, 270 cam and 5,000 bu oats, 4 cars rye, and . Total (510 cars), 202,000 bu. One hundrel vollars in gold wounld buy $103.00In greenbacka ut the clone. Greenbiacks at the Now York Stock Ex- chango yesterday closed at 074, In the investigation by the Coroner into the circumstances attonding tho death of Cuantes Duorey, the fireman wlose corpse was carried froia the burning store of Fiewp, Leren & Co., tho testimony woukl scem to indicato that decth was not caused by suffo. cation from flame and smoko, but tvas the result possibly of over-exortion or leart. discase, » Gen. EwiNg’s specch on the Lill for the epeal of the date of the Resmmption nct ‘waa delivered yesterday in the Houso, and it proved to bo all that was expectad of it—nn ablo sud cloquent protest ngainst the policy of attempting tho experiment of redecming greenbacks in gold without apy preparation to wect the deniond. Apart frotn the ultra- inflation charactur of some portions of tho speecl, it was one of tho most Interesting and effective among all that have been deliv- ered iu the courso of the debate iu the House upon the Itepeal bill Nobody will bo surprised at the néw ras. calitics which follow thick and follow faster 84 the prosent County Ring approaches the terminntion of its official caroer. Yeater- day's achievements were rather more bold and barefaced than usual, but ot more so than the tuxpayens are propared to expect from o st of plunderens who have no charscters to Jose #nd no fear of the law before their eyes. T'he report of the experty selected to ens. ure the brick-work in the new Court-House discovers o discrepaucy . in favor of the contractor amounting to about &18,000, wherenpon the Iing promptly repudinte the report, and will undonbtedly voto SexToN tho extra 18,000, Bota fow days remain in which to push through this and shilar jobs, and unless delayed by the interpusition of the courls until the organl. zation of tho now Ioa d the Ringsters will wmako hay while the sun shines, ‘There seens to b no doubt that Parres. o, of South Carolina, has been bought and delivered, and that the Democrats will re. tain possession of their pew purchase until hie hing censerd to be of use to them—that is, until by his vote they ars’able to seat the threo contestants whose votes will give them o clear working majority, Hambury Burzrn apvears to be the broker in the transaction it 13 ho who Lus beld out to Parranson the promise of imwunity from the prosecution now pending agoinst him as tho price of bis apostasy. & Republicun in tho Bouth Carolina Peniten. tiary—this was the alternative presouted, wud it is perbaps not surprising that he chose the former. But it is sald Gov. Haurrox, who bas Senatorial aspirations of his own, is not 4 party to the infanous cou- tract, und that it caunot ba executed without Lig co-operation; s0 PATTERSON 18y not escupe prosceution oftersll. The case of Covoves is not ko easily understood, He is represcoted as saying that ho still remains a Republicay, aud will vote with his party on all questions suve the seating of Burwes, to whom he s firmly pledged. The Domocrats, Lowever, are jubilaot sud the Republicans despondent over the situstion. New York Slaats-Zeitung (Democratic), which assumes that both Republicanisim aud Dewocracy ure on their last legs, because’ certain Demoerats voted with the Republic- aus ugaiust the reduction of the anmy; which was 8 Democratio measure, sud slso becuuss * hurd-money Democrats and bard- money Republicans stand much nearer to- gether thau hard-money Democrats aud soft- To be & Democrat at large, or. money Democrats or hard.money Republie- ana and soft-money Ropublicans.” Hence, snys the Staats-Zeitung, *considering the fanaticism which the paper and silver ad- vocates exhibit in their work, it is hardly posaiblo that both the parties shonld escapo being shinken to pieces.” The opinion of the Staats.Zeitung ns to the wrecking of partics on the silver quostion wonld bo of mora value it it wore based ntpon facls; as it inot, it ix only n shallow view of the caso, The Silver bill, if it passes and becomos a law, will be immediately taken ont of politics, aud there will be no more to say about it. It never has been n party issne, and there nevor has been enough in it to divide men's political viows or canso them to aban- don pacty organizations for its soke. Once the Silver bill becomes a law, it will disap- pear from politics, and thers will be no den. gor of ita brenking up parties. Evon 28 to tho Enst, the Staats-Zeitung is mistaken in supposing that it would solidly uphold gold without silver and force resumption upon o gold basis, Upon this question the East would split, and Penunsylvania would give her majority for silver with Ohio and Dlinois. The people will regulate tho silver question without making it a party issue and withont disturbing old party organizations, The Commissloner of Tnternal Rovenus re- ports that there aro 2,500 barrels of alcoliol imported annaually by manufacturers of per- fumery who aro entitled to a drawback of dutles on the same, they exporting the per- tnmery mado therefrom. Two thousand fivo hundred barrels of aleohol contain 156,800 proof gallons; tho tax on thismuch apirit ot §10 cents n gallon amounts to $141,120. ‘The valua of tha parfamery exported by all manufacturers in 1876 was only $375,011, So the additional value given to tho aleohol by the manufacture nto perfamery is only 133,801 in excess of the tax, From this it will appear thot the Uniled Statos romit $141,000 taxes on alcohol o enable man- ufacturers of perfumery to export $375.000 of their goods. QOne of tho ypeculiarities of the ‘‘deawback™ system is, that the Trensury Department becomes tha capitaliat of the persons who are ongaged in bnsiness entitled to a drawback of duties, In course of timo tho Trensury will pay beck all the dutles now collected on imperted sugar, and in time will pay to tho manufacturors of perfumery s dollar and o half of drawbackh for every dollnr's worth of perfumory they oxpost. In the meantime, American-made alcobol s prohibited from use in making perfumery by n discrimination of 90 cents a gallon in favar of the foreign article. The conrso of somo Iowa papers on tho silver question s difficult to comprehend or oxplain. Here, for instance, is the Daven. port Gazetts, which is a protty sensible sheet on most questions, babbling in the most sonse. less and incoherent manner against restoring tho silver dollar to its old place. Tho Gazette talks of the **dishonest advocacy of fraudu. lent finance,” and other similar rot, Has the (azette no soou forgotten tho finnncial plank inthe Iowa ltepublican platform adopted Juno 27,1877? For the purpose of rofresh. ing ita rccollection, and that of any other Towa papers which may be unwittingly playing into the hands of the Eastern Shy- locks, wo reprodnce the silver plank passe by the Convention aforesaid s . . That the sliver dollar having been the legal anlt of value from the foundation of (he Federal Government nntll 1873, we belleve the law under which its_coinage was suspended shonld bo ro- pealed at the earliest posaible dny, and siiver made with gold a legnl-tender for the payment of all debes, both pubilie und priate, and also believo that the present volume of carrency ehould be mafntained until the wants of trade and commerce demand Its further contraction. This silver plank covers the Braxp bill exzetly, Does the Gazelle wmean to say that the Republican party of Iowa were actuated by iunnte dishonesty in inkivg the above position on tho miver question? I Tux Trisuxe s wrong, it Is sinning in good compnuy~—that of the bannor Repnblican Stato, ‘Tho Gazette wovld do well to ro. pernso its party platform, and revise its in- dufensible position. Information in denfal of the aspersions mado on Western mortgages by the New York Times continues to come to us from various responsible sources in the West. ‘The Intest testimony {4 from n fivm in DPeoria, 111, who have houn in the Lusiness of loau- ing monoey on farma for tho past five yoars, eud have nowon their books farm.mortgagoes smounting to more than $2,000,000, Out of 400 loans, where the Interest fell duo Jane 1, 1877, there wny but one default, ‘Ihe flrm roport that thoy have never made but five foroclosures on farms, aud that in avery oase the property sold for mora than enotgh cnsh 1o poy dobt, ncerued interest, and costs, One corporation for which tho firm have loaned rhout $500,000 hnsbeen paid 330,000 of mort- gmges from threa o four years bofore they wore duoj the agonts report that thera haa heen little deprecintion in farm values out- side of n few counties where there has been a fnilure of crops for two years successively, and even in those cases the deprecistion bas been nothing like so large as i Enstern cilics like New York, Brooklya, Bostou, and Provi- dence. But ns money ls loaned at tho Bast at 6 or 7 per cout, while it commands 8, 9, aud 10 per cent on farme.mortgages, thero in considerably more margin for losses by do- preciation fu. Weatern investments. Lhus the jnlerest on §500,000 at 7 per cent for fivo yoars would be $175,000, aud at 9 yer cent %295,000, which would give §30,000 margin for losses in favor of the West, though as o matter of fact tho loas from de- preciotion of yroperty has beon groates in the East than in the Wost. —_— 1t seows that tho rumors in vegard to the poasiblo revolation fu the political status of the Unitod States Senate, through the ad- misslon of the Democratic claimauts for the vucant sests, have uot been altogether pro- matore, ‘There was a sort of test vote yos. terdny in the LuTres case, Mr. Hoas had moved to table Mr, Tuuxstan's resolution to discharge the Committee and tuke up Bur. Len's case, Had Mr, Hoan's motion pre. wvailed, there would have beeu an end of the discussion for the present, but it was de. feated by a vote of 32 ageiust 0. Davis, of Dlinois, voted with the Democrats, ay poght perhaps have been cxpected, but Cosoven and ParressoN (Republicans) voted with thew also, Parrznso's alliance with the Democrats is explained by Haweroy party in South Carolins, and the inducewent iu Lis caso is probably the prom- isa held out to biw that Lis indictwent for bribery will not be prosecuted. Just what Coxoves's motive is fu striking hauds with the Democrats {s not spparent, uulcas it iy the hope of galuing a good standing among the Democrats of Florids, who now control the Btata. The voto on the motion to {able does not indicate with certainty that thess two persons will vote with the Dewocrats to adihit BuzLes, but there is & strong in- his auxiety to court favor with the Wanz ference to that effect. Tho case goed over till Monday, but if ths Democrats shall still ‘nee n disposition to avail themaclves of tho nbsence of two or three Republican Son- ators when it shall come up sgamn, the Re- publicans will bo jnstified in resisting their eaup by all the devices known lo pnrliamen- tary practice. & P ] THE VALUE OF BILVER, Ta the Editor of The Tritune, Onicaco, Nov. 22.—[ hava for years been so well pleased swith your views on questions of po- Iitical economy that Iam sorry to differ with yor on the silver question, as I cannot be persundea that yon are right, 1f 1 understand your position, yon deprecate chesp money, but clalm that the actof Congress making the ailver dollar of 4123 graing welght B legal-tender for fts face salna will make that smount of this metal colned worth 100 centa in gold coln In tho United States. 1€ thin be 0, \why could not the act of Congress do as much for paper? 1f yon say it ina question of coln, which has ita pecnliar laws, then coutd Con-~ gress do an much foror with nickel and copper? Can Congrees decide how much siiver shall be an equivnlent forn pound of gold any more than it can decide how much shall been equivalent for & ponnd of nork? Bat suppose it has that power within the limits of the United States, and yonr proptiecy come trae, will Congressional legislation give it par vaine for alt purposes? Wil wo be able to make England and Germany fake sllver coin at ita face? 17 not, how will it better the Ansncial sitnation? Suppose A New York merchant to vwve a lLondon merchant. He muat pay him In caln. 1f he send aliver, the London merchant will allow the worth of allver jn London. {1t bo there nt » discount of eay § per cent, will the New Yorker he able under act of Congress to force any New York bank or broker or a Uniled States Snb- Treanary to cxchange his silver for gold without s preminm, 6o that he indlvidually ehall not be obliged to bear & loss which Congress decreed? If on the other hand a London debtor pleasc (o pay 8 New Yaek creditar, (n allver doilars at thelr faco value, thouch they nre worth but 02 cents in Lon- don, will the New Yorker have a remedy? While England and Germany ackuowledge but one rtand- ard, we, who aro their debtors in vast amounts, only delada ourselves by adopting o donble standard, The inferior medium of exchange must fluciuate according to tho demand. llave we not had enungh of the mlsery connected with an unstable curtency? And that 18 the whole queation. Silver ta comed and ls a medium of exchango nnder necessary regulations. Any change In there regulations, when necessary, must be made in & much Iargersphers than \Wasblogton or_the United States, Vo Thero is n diffecenco botween paper and silver in this—that the smonat of silver con- tained in an American dollaria worth, say, 92 centa in gold, without any reference to its uses 0 monoy, while the amount of paper in the greonback, free of ita charncter ns Jegal- tonder, has no valne. The coin needs no re- demption; it 18 paymont of itself ; while the greenback is dopendent more or less upon the eventuality of being redeemed in coin, The silver dollar is monoy of itself, having o intrinsio value, while the paper has no in- trinsie valuo, nod represents a coin dollar which tho Government promises to pay, and ultimntely will pay. The greenback was s much a legal-tender when it was worth only 15 cents in gold nsitis now when it will buy 07} couts of gold. Without the Jegal- tender character, the greenbacks would have no valuo pave as the promises of the Gov- crnment atits ploasure to redecm them in coin. Tho practico of represonting that the American dollar, if coined, will be worth only 92 conta is grassly unfair, becauso that is tho price of tho metal in bars, and with silver demonotized. 1f tho legnl-tonder charnoter cnn give to paper which bns no intrinsio valuo o valuo as money, to make silvera legal-tender will give to that coin alwoa value in sddition to that which it hns as metal. Thoro is of necessity a limit to this proceeding, Great Britain has a silver cur. rency which is n legal-tendor to a certain snm, and circnlates freoly at par with gold, thongh its intriuslo valuo ng silver at present lexa than par; and our subsidiary silver coin— the halves, quarters, and dimes—in this country have alwnys beon G per cont below the silver dollar in value asbullion, yet aro accepted freely at tho samo valao as grooubncks, ‘The trade-dollar, which biss 420 graios of silver and is not a legal-ten. der, Las only the value of tho silver con. tained in it. All countries hinve a token cur- rency. which is a legaltondor to a limited extont, without referonce to the intriusic value of tho moatal, sud this includes our nickel and copper coina, If gold wero domonetizod and no longer used for commage as mouney, then silver would expericuce a large appreciation in value aod gold a proportionato docline. Thon gold would ba quoted at the market price in silver, as demonetized silvor is now quoted at so much per ounce in gold. When silver wns demonetized in the United States our ailver dollar was at & promium of 3 per cont in gold ; the domonetization of silver in this country and Germany has greatly in. creased the demand for gold and reduced tho demand for silver, affccting the bullion values of both metals, The question now pending {a not to take n metal whose permanent or genoral value s ‘but D2 cents on the dollar; it is not a ques. tion of cetablishing a new coin of a new metal and to make a new legal-tender, but ia a queation of the restoration of a coin, and n metal, and alegal-tender which have existed sinco the United States bavo had a national calnnge, It is not the secking a cheaper coin to make cheaper dollars, but is a ques. tion of resioring a.coln and a lcgal-tender unwisely, unfortunately, and secrotly abol. ished, in the interest of those who wanta scarcity of money in onder lo iucrease its valuo as compared with tho value of all other property, It iu the restoration of the dollar which was a legal-tender when our national dobt was contracted, and in which that debt was in express terms made payable at the option of the Government. The restoration of tho silvor dollaw as a legal-tender in tho United Btates will have the effect of ro- storing silver to its general value. It will reduco the demand for gold in this country, aud to thot extent will lesson the general de. mand, to which is dae ita present extraordi. nary appreciation. The only objoction that is urged to the recoinage of the silver dollar s that domonetized silver is notb worth as much in gold as before it was demonetizad. Bat if the demonotization of silver shall have the effoct of restoring tho valuo of silver, then theobjection fallstothe ground. Allourdebts were made payable in either gold or silver; that is the contract, and Congress had no right to change it, If we had tho power to alter the contract with our creditors by de- monetizing silver, then wo have the power to go further and domonetize gold; but the fact is we had no wmoral right to change- the contract at sll. We made the contract, our creditors giving us the option to pay in whichever was the cheaper coin. ‘That was the agrosmeant, and by it the coun- try muat stand. Qur correspondent is perploxed lost we may not bo able to make any payments iu London uvless our dollars are worth 100 cents in gold. Gold and silver are sold abroad ‘not by colnage stawps but by weight, and according to the current prices of bullion. 1f our silver be worth more hore as woney than it will be as ‘bullion, it will not be norted. Thesilver ooin being & legal-tender in payment of debts here, principal aud interest, and ns silver coin will not bo had except on practically Onr correspondent argnes upon tho erropoons hypothesis that the standard or bullion value n par with gold, thers will bo no deprecinted silver carrency. of tha silver dollar is now bnt 92 cents in gold, when in fnct the present depreciated walue of sflver isdue to temporary canses, nided by the effort to keep it demonetized. A writer in the London Times, commenting upon the passage of the Bilver bill by the Ilonse of Representatives, insists that, if that bill becomes a law, before it can bo put into practieal oporation silver will have mdvancod in London to its old relation with gold of 154 to 1, than 100 cents in gold. Involved in the question of remonetization, therefore, is Al- 80 the question of the ndvancement of thie price of silver; to remonctizo the mlver dollnr is to advance the priceof silver, so that tho silver dollar will be at par with the gold dollar, It is obvions that with the present scarcity of gold a sufficiency to resume specte pay- ments cannqt bo had withont ecnormous sacrifice. Silver in quantities equal to the capacity of our mints ean be Dbad, and the coinage annaally of $10,000,000 to $50,000,~ 000 of silver coin will prepare the way for rosumption, and specie resumption ennnot be maintained anywhere unlesa the amount of legal-tender coin in tho conntry bo equal to tho amountof ontstanding paper eurrency. It is absurd to sy that gold will instantly depart 80 soon as we coin silver. In Franco silver {8 o universal currency; thero aro no bank bills of less denomination than $10, and legal-tonder, five-franc piccos avo tho gen- eral coin, At the samo timo the Bank of France along holds $:100,000,080 of gold,— showing that the two coins can exist in the same placo at tha snmo time; and this, too, notwithstanding the fact that the ilver coin of France containa n less proportion of silver than the Anterican dollar,—tho French coin being in the proportion of 15§ of silver to 1 of gold, whilo our dollar gives 16 of silver to 1. of golds If our correspondent will consider these facts, ho will reach the con- clusion that tho objections to the remon- otization of silver nro either imnginary or COL. 5COTT'S ARQUMENT. Col. Troxas A. Scorr lins a faculty of pre- sonting things in their best light. Rending his amiablo interview with a roporter of Tur ‘I'ninune, ono wonld conclude that, while the Toxns Paciflc Railrond s primarily n great national enterprire, it is destived to pay n special tributo to Clileago, and enlarge tho business of this city and the country of which it is the centre. But Col. Beorr alse hiad an interview at Columbus, on lis way lore, with n reporter of the Ciucinnati En. quirer, in which ho pormitted the confiding people of Porkopolis to infer that the com. plotion of the Cincinnati Bouthern Railroad and tho Texas Pacific will establish the main artery of American commerce between Cin. cinnati aud the Pacific coast. 1f Col. Beorr bo interviowed in auy othor Western or Bonthern cities, we have no doubt he will succeed in showing with equal satisfaction that the Texas Pacifie is all that is wanting to catablish for each and every one of them tho pre-eminent commeroinl pros- perity of theconntry, With him, all ronds lead to the Texns Pacific. Ie does not neg- lect in any instance, however, to lmpress upon his hearers that the Texns Pacific will dovelop a vast and rich torritory, that it will contribute to the geuernl good by openiug up anew competition in transportation to and from the Pacific, and that it wil findn business that will decomue profitabloas rap- idly as the rord shall bo extended. Now, conceding sl the points made by Col. Scotr, thay novertheless suggest a good many reasons why the Government should not build the railroad for him, or loan its crealt by a guarantee of the bonds fn such a manner as to amount to vory much the same thing, In the first place, if the Toxas Pacific Rall- road [y 8o excellont n business investwent, sure to yield o profit, develop the country, and create a trade, it Is an enterprise which should have no difficulty in attracting private capital for its complotion. Capital is seck. ing investment in this conntry at the presont time at a8 low as 4 por cent intereat. Col, Scorr says thers is no question but that the route of the Texas Pacific is in every wny superior to that of the Union Pacific, which iu confessedly making money. Under these circumsatanges thero is no occasion to apponl to the Government for aid, and this ix the only point at fssue, We haven't heard of anybody who objects to the construction of tho Texas Paciflo; tho objoction is to the means proposed for tho coustruction, It iy not the province of the Government to build 1he railrond. Col, Scorr lays great atress upon the fact that the Texas Pacitio will be a competing rond for the business of the Paocific coast, ond that it will afford relief to the country from the cxorbitant charges of Jar Goorp's Uniou Pacific, which is forcing shipmenta from the West to Ban Francisco by way of New York and the sea. But Col. Scorr ig. nores the fact that experience has demon- strated competition to mean nothing more nor less than combination in the railroad business, The Texas Pacifio, if completed, might compete to divide the business with the Union and Coutral Pacific route, but there is no promise thai it would compete to do the business at lowerrates. Tos Hcotr's railroad between tho West and tho scaboard divides the busiucss with the railroads man. sged by Vaxvezpmr and GannerT, but tha business is all dons upon au agrocd basis which gives the pablic no advantage on ac- count of the so-called competing lines, In fact, Col, Boorr hiwmsclf expresses the hope that this combiuation botween the Eastern ronds will bo permanent, Then there is no reason to doubt that a similar arrangement will be made between the existing Pacific ronds and the Texus Pacific Road when com- pleted. : But oven if the Toxns Pacific Railroad conld be depeuded on aya competitor of the oxisting linea to make botter rates to the public, that would scarcely bo a reason for the Governueut to undertake its construc. tion. It would thea cut juto tho Union Pacifio, and Central Pacific, and Kausas Pacific, which are largo debtors to the Gov- ernment. It is aluost impossible to get auy wmoney out of the present ‘Pacilc railroads on account of the futerest the Government is paying on their bonds, even thuugh they aro making money. 1f their business were to bo reduced and their profits cat off, then the Government would be absolutely powerless to get back the enormous pyms of monoy it hus advanced to theis. To ask the Govern- ment tobuild up » business rival to the ex- isting Pacific roads is to ask it to deprive itself of all hope for regaining the amount invested in those rosds, or to invest milliony of dellars to insure the loss of otber millious This would make our silver dollar, which is 16 to 1, worth moro ! hns burnod, involving n loss of about 8750, ! ho n sonrco of strength to a Government. Tt was exnctly at this point that France had the ndvantago over Germany at the clase of the Inte war. The people of the former country wera in a better condition financintly than those of tho latter; nud they could suffer an impairment of capital without last- ing injury to their resonrces or powers of recnporation, At tho worat, they wero never called upon to support, in such a form ns the Prussian peopla now have to enduro them, the henvieat burdens of taxation, It is true that the amonnt raised by direct taxation in France {s $2.07 per hond, as agalnst $1.40 in Prussin; but the Prussians, on the avor- nge, can hordly afford half the sum contrib. nted by the French. ¢ Asido from the financial drain eaused by an enormons standing army, nnd the apeculative «lemoralization produced by tho French in- demnity, it is obvions that the bad con lition of the Prussian Treasury s due to profligate manngement. 'There lias been an endeavor on the part of the Government to keep the finnnces, like nll other departments of the Btate, at o high pressure; and there has been no shrinking from the most costly mothods of accomplishing the purpose. The demonstization of silver was part of tho plan, and this, which was considered only an incident of tho schems of financial re- form, has proved the most serions undertaking of all. Tho process of ap- precinting the prico of gold and de- precinting all other commodities—of adding 10 por cent to all debts, and subtracting n like amount from all the means of pnying dobis—has invelved tho nation in serions difficulties, No policy less lLazardons than this could have brought Prussia where she is to-day, and presonted the amazing spectacle of nmnation which pays most of the interest on ity debt from tho income of Crown property now compelled to report an annunal deficit, or acek a loan in tho markets of the world in n time of ponce. alrendy invested, and with little hopo of got- ting back either. Finally, tho permanent and unanswerable objection to Tou Scorr's schemo for building the Toxas Pacific Railrosd at Government cxpense is, that the whole principle of Gov- ernment rubsidies is falso and dangerons. It in a system which has been abandoned under the vigorons denunciation of the people, nnd it cannot be revived withont entailing in the future the snma disastrous resulis that liave nttonded it in the past. To throw open tha doors of the Tronsury to tho Texas Pacific will bo to throw them open to the manifold beggars who nre soliciting snbsidies, and to build up now construction rings and nfford new opportunities to tho corruptionists and speculators in American politics. The coun- try has already suffored onough in money and repntation from this class of enterprises, and it cannot afford any now oxperience in the same line, ' MALICIOUS MALICE." There has long beon a disposition on the part of the Now York papors, every timo a fire-bell rings in Chicago, to abuse thia city and point out, in a malicious way, that wearo still in great peril from fire, nnd that we aro taking no precautions to prevent conflagra- tions, consequently tho insuranco companies should withdraw their risks. Wo were trented to this kind of thing at the time of the Clark nnd Btate street firo of 1874, and now, because Messra, Frxrp, Letren & Co.'s rotail eatablishment is partially consumed, another malicious assault Is mado upon the city, with the view of prejudicing hor in tho eycs of the insuranca companies, Hithorto the Now York World hias boen faremost in thosenttacks ; now it is the New York Z'ridune that comes to the front and comments upon the rocent firo with a dogree of stupidity and blank falsehood that surpasses the previons dintribes of tho World, ! It commences its comments with tho state- ment that “ thero was ovidence that the peo- plo of Chiengo wero greatly alarmed during the firo of night beforo Iast u their largest rotail dry-goods store,” There was no evi- denca of the kind furnished to the New York T'rilune, nor was auy one in Chicago alarmed. ‘Wo noxt learn that tho firo of 1871 * was fol- lowed by another large fira by which at lenst 5,000,000 worth of proporly was dostroy- ed.” Reduca that total toa million and three-quarters dollars, aod the statement wonld be correct. Now becauso one store Tho story told in a letter to the Now York Timen, printed olsewlera in this issne, of eloction frauds in Philadelphia neod not oc+ casion much surprise. It is merely confirma- tion of suspicions that have long boon enter- tained, Democratie election tactics ara everywhora tho samo. Ballok.box stuffing, intimidation, bribery, and corruption are the fumilisr wenponsof tho party in all the large cities. They bave beon used in Philadolphia with the samo freadom ns in Now York and Baltimoro; ond the resnlts nccomplished, comparatively speaking, have been the same. The Republican Executive Committee have been overbnuling the roturns, and so far they have discovered 600 fraudulent votes and impersountions in one ward alono; and this ward, tho Fourth, is known ns a Democratic stronghold. In two pre- cinots of the Third Ward, where the Domocratic majority was strong, 200 fictitious votes have boen discovered, ‘The frands proved in four wards which are in undis- patod possession of the Democracy ars suf- ficiont to overcomo the pluralities of the Democratic candidates for Coroner and Dis- trict Attorney, which are about 1,000 each, and it is believed the plurality of the Demo- cratic candidate for Comptroller, which amoants to something more than 2,000 votes, would be overcome ia' the same man- ner it tho whole city wore reeanvasseds These figures apenk well for the efficiency of the Democratic ballot-box stuffers; the roc. ord is worthy of Tammany Hall in its palmy doys. Tt used o be said that the Repub- lican Ring in Philadelphia was as corrupt aa the Democratic Riug in Now York; but inas- much oa both cltics aro now in the hands of tho Democrats, and the election frauds in both aro enormous, the statement will have to bo corrected. 000, wo nre notified that ** Wednesday's fire will raise the question as to how far the new growth of confldonco was misplaced. A fair diseussion of the facts cannot wall avoid the conclusion that Chiengo is singularly exposed to spreading fires.” 'To what does the Now York ZT'ritune refor? This was n fira ina singlo storo. Does Now York have no fires in o single stors? This firo was not only confined to the building, but to threo of tho five floors of tha building. What foaturo of this fire is to im- pair tho confldence of insurance companies ? I'hero was no insubordination of firemen, ns at the lost groat Now York fire. Thero was no lack of water supply, as In Now York. There was no inefficiency of tho Department, a8 in Now York, * Thero was no violation of building laws, as in Now Yorl. It was just such n fire ns {4 liable to occur any day in any city in the world. tho ouly differcnce being thint the fire was handlod so skillfully that it was conflued to tho building whero it broke ont, althongh surrounded with five and saix atory buildings on every hand. The Now York Z'ribune closes its serood with a stato- ment ns stupid s its other statements wera falso and spiteful, It says: *‘The reason for Chicago's fires may bo scon at auy time, in hor new parks, whoro the young traes all bend ouo way,and can only be kept from be- ing torn up by moans of wires mooring thom to atakes.” Tho origin of the fire the other night has heretofore been a mystory, but it is rofreshing now to know it must have been beeanse the freshly-plantoed troca in tho now parksaro all mooroed to atakes. If the authori- ties will only nnmoor the treesand allow them to be Llown down, perbinps wo ahall hava no more fires, Meanwhilo, if tho Now York T'ribune trinmphantly cites the Instance of the burning of one store s a roason why the insurance companies should withdraw risks from Liere, lot it bo candid enough to suggest to tho insuranco compnnics that thoy with. draw their risks from New York, bocause ntores burn thero from lack of water supply and an incapable Department. If it does not, it conviots itaclf of meannss and malice, Commenting upon su article in Harper's Month'y, relative to newsparer men, thelr men- tal tratulng, and the work they porformed, the Lockoort (N. Y.) Journal says: Let us clte an examplo bricly of newqi-pu work that just occure to us, A Chicago friend sent usa copy of last Thursday's Titnux® of that city. In aadition to sume fAirly-ste other columne of fresh and five mattor (nut cotnting advertissments), it containgd a ten-column desceiption of the burnin the Alyht before of the immenss extullshment o FirLp, LaTen & Co. ‘I'nis firo was nut discoseres til aftor 8 u'clock Weduowlay evening. Tho paper ‘wenl to press, prooably, In the rexlon of m. ‘Thtirsday morning, 50 these reporters of 3 Cittcauo TrinuNg were oblived to ,f'"'" all this vast array of statement, facts, and figures, wnte jtup, and the forenisn had to make it up and the aper o¢ printed, ail within this brief time of & cw_houts, beaides all thu other jmmonse detalls of the paper. » task ccrtainly worthy of record and wonder, but how few ihought of it? ‘Tho multitude slmply read the news gapingly and thut waa all, ——— It would be nomoro than just to Gen. Lizn wore the Demoeratic County Committeo to re- Hove him of the assessment which be is report- ¢d to he working out of hisclerks, During the campaign Gen. Lixu labored falthfully for the Democratle nominee for County Clerk, and secured Hberal donatlons of monoy from the Cleck’s oflice; and while it fs possiblo that had Gen, Lizs kept his nama gut of the canyass the nomineo of the Democracy might have been clected, stlll ho Is cotitled to credit for even misgulded efforts, Ilis services warrant a plea for soma constderation now. Let upon him. Give him fmmumty,—uot such as winds up ln an assessment ot the ond, but immunity from further political snnoyance, ospeclally that of dragging unearned dollars from the pockets of lerks. THE FINANCES OF PRUSSIA, A nation that has kept out of debt, paid Its wny whenevor it bad occasion, and im. posed bat a light rate of taxation, many with roason bo looked to for a modol of prosperi. ty and clover finauncioring. All this moy bo truly afirmed of Prussia; but, in spite of It, tho Minister of Finance {s this yenr obliged toreport n deficit, and the outlook for tho future is far from encouraging. The French indemnity has been for the most part spent, and tho littlo that remsins js pledged to o #pecific purpose, The commercial clasaes which a foew years wince were on tho top wave of good fortune are now in the depths of distress. The business depression has continued so long sud beeu so severcly felt that the baukruptey courts have begun to fecl tho effects ; and the Ministry of Justice is the only department of the Government which can show o surplus of so much as 1,000,000 marks, Tho Government rallways Inst yonr yielded about 8,000,000 marks loss than waa expeoted, and tho deficit was made good out of tho fund set aside for repairy, ‘The working capital of the schools was robbed of 4,000,000 marks to keep up the system to ita usual high state of elcisncy. The current deficlts on all accounts 18 17,000,000 marks, and next year will proba- bly ba 20,000,000 warks, or $5,000,000, This is awumall inatter for so great n nation as Prussia, with her excellent financial condl. tion, but it points an economical moral of sowe Importance. It shows, in the first place, that the bene. fits of a syster of direct taxation have Leen overratod. In theory there is no method of taxation so hounest and so cheap as that which procseds by direct assessments ; bul in practico it has been found that the burden of taxation is more severely felt under thiv system than under any other, and conse- quently tho efforts of tho people to mske it inoparative aro stronger, . The income-tax in Prussis bas become almost an jntolerable burden. Iu mot a few districts, a corre. spondent of the London 7imes asscrts, the sixth, or even the BIth, part of aman's in. cume g claimed for Government aud munjc. ipal purposes. This would be no small im position even in 8 rich comwmuuity; but when it is made among & people who bave in mauy ijustances little more tlan the mesns of supporting life, it awouuts almost to an act of contlscation. The impoverishment of & people thus situsled is a mmatter easily accomplished; and once . poverishicd, more maswcs of people cemse to ———— T the Edutor of The Tritune. Pawa, 111, Nov, 10.—Wiil you please inform ona of your readvrs what s the relative vaiue of frade- dofllura togold ortheold sllver dolisr, and also 1Ay they were lssued? Where latended to be nsea? Reapectrully, ete,, ¥, ¥, ‘The trade-dollar, which is not & legal-tender, contajus 420 gratus standsrd siiver. The old miver dollar contalned 413} grains, which makes tho bulllon value of the trade-dullar about two couts more than the othor, They were colned especlally for export to Chins with which to buy tea for Awerican consumption. ‘They were inada a little beavier than the Bpan- Ish or Mexican dollar, in order that they mizht gaiu the preference lu the cyes of the Celes! in our commerctal dealings with them over that of competlug sliver coius of other countries. e — In order to substautiate bis claim to a recent description of himsell as “‘tramp and bum- mer," tho eccentric GRoxox FRANCIS TRAIN s showing bls genus how to secure square weals tor next tonuthiug, The following is the blil ot his fare at & recent private banquets Coffes This, bo clalms, Is enough for any working- mat. Now, i Mr, Tratx will practically de- monstrate to the world Low he could be buried for a like amouut, s lifc will not bave beeu in valo, —————— ‘Their fallure to reduce the army has started the Dewocrats of the Huuse in another direo- tlon, snd they are now reduciog the number of crippled suldicrs employed by the Doorkceper. ‘They cleancd out all but one, who bad been ulrcady reduced two arms by 8 prior elfort of the Cuntedcrste crowd, and him they kept as s sort of tropby of thelr prowcss In was as well as thelr mesnness in peace. me——— Auother Appropristion bill might profitably be {utsoduced into Congress providing foy & few bodg-suatehers to rake su abssut Republic- an Beostors. There is an impression smoong some of these statesen that the Senate Cham- ber is voextcnsive with its jurisdiction, and that wherever & Beoator Lappeus to bs thero fs his post alao. By and by when they find the'r ot formance of pledizes o conatltuent limite o g minority effurt in that behaif, perhaps tiny wiy ;;-merlm’" that Cantenr HARRMON'S paj. un larles are not strictly apjplic City of Washington, 3 el In regard to the practice of un frelght, to which reference was mndo';z::lr:‘\n ' it 13 well to notice that thers In & powertul g tive, fn additlon to thoso mentloned, for hones dealing on the pyrt of ol shibpere, 11 goodg fmprooerly described snd undersalued arg loat in transit, the owners will not be able to recover frum the ralirond companies more than the value of the lower class of goods so describeq, The law provides that the railroad wmwmle; shall not bé compelled to assume any responst. I.lfllll.y unkaowingty or without a just compep. sation. tonal 0 the B N -A huge dornick wandered sround Chieage yesterday, bearlng the names of sundry Count; Comimlssioncrs who are supposed to have heen instrumental In the crection of the Court. House. By some error the names were not et inacrele as. they might properly have becn, but tnls omisston will find ta correction in the reports of the Board proccedings, so that th students of history will not be misled by tne stonccutter’s negligence. ————— To the Eiitor of The Tribune. Cittcaan, Nov, 22, —WIIl you pleaso Inform & reader of your vatushle paper what bonda and uf srhat serlca ate best for n puor man to Investa taw hundred dollars {n? Please Inform Lhrongh youe vayer, and oblige yours, traly, Qronar, Chiengo City certlficates or Cook County bonds, under the new management, are conald. ered firat-clasa sccuritios In which to fovest, [ — Mr., OAREY HALL at last affords the publie his reason for his mysterlous teip abroad, jlg ia advertised to lecture. e —— Why docsn’t Mr. TILDEN present the Pope with a portlon of his surplus health 1 — PERSONAL. The Rev. H, A. Hauvaford, son of the Unlves t woman preacher, has seceded from the Universallet Church, and 18 to join the Conzreza. ;lt:n):l Church at Reading, Mass,, on profession of alth, Mr, Bamuel Bowles, who has hoen con. finod to bia honee fora faw weeka by a compliea. tlon of disorders aclsing from congestion of the lungs, is smending sluwly, and has ridden out (or tho Inst fow daye, The women teachors of Boston ave atil} unreconciled to tho idea of having members of thefr own sex superviza then an tho School Com- mittee, and "there iaa growing opposition to the Bystem among votars, The New York Post nominates Mr, Georga 1L Corllss, of Rhodo Island, as Commissioner to the Parls Exposition. Tho Philadelnlua papers sccond the nomisation because the author of the Corlies engine seoms to thom doserving of special honor. *How grim the contrast between Parnns. sus nnd pollcol” oxclaima the Boston Gasetle, as it recalls the fact that Mayor Prince wrote the farewell posm to Mias Ellen Treo when ahe closed her cngagement at the old Tremont Theatre, A joke ig attributed in the forelga papers toono of the Royal famlily, lttle Prince Albert Joln, n of the Princess Helen and Prince Chrietian, o fa determined to b a soldler. bat bis mather told bim ono day that when he becama s soldier he would hiave to leave his nurse, whom Bbe loves so much, 0 no, ms,"" goawered the hitle Prince; **Ioften sca soldicrs walking about with nurses, " Monuieur Worth, tho great dressmaker, ap- pears to be a poct In his way, Not long ago he an- nounced his determination to maks fora younz American lady, a real golden blondo, a gown of yellow silk. Bhe remonsirated—who ever hieard of s blonde wearing yollow—it was out of the ques- tlon. **You mieht as woll say, " retorted Worth sharply, **that s blonde coulin't sitln the sun- shine.” And the yollow gown wds. made, and proved to be beauty-ylving. Miss Vanderbilt's trousacau is mentioned In Parls a8 oxcecding even the nsaal extravazance of Americin women, who are noted there for the costliiness of thoir dress, Tho young Iady‘s bridal drees of bracaded satin was woven st Lyons from the dressmaker's own design. The bridaj bonnet, . made cntirely of lace In which fne pearls aro onght and trimmed simply witha single mar- out feathor, cost $75. ‘The six bridesmaids’ dr of thin gauze are each embrolderod with different flowers, Pierro Laufroy, Senator for lifo, and lately French Biulater to' Bwitzerland, whoso death, at the ago of 40 years, ls announced, usvd his pen to his own detriment i uncovering the rottennces of much that was done under tho First Empiro. Hls **Ihstory of Napoleon 1,," the work on which bis reputation chiefly rests, 1s A fesrioss arralgnment which appealed strungly (o the stald middlo classes who would naturally turn a deaf ear to tho hissing of the men whom Ifochefort led. e left France to cecape persacution, but returned afier Sedan to fight agalnet Germany, Matildn Flotcher is organizing Boclal Belence clubs smong the ladies just fora mila recreation from tho arduous dutles of lecturing eveninga upon **The Heart of & Man," **Why Don't You Laugh,* **Tom Bcott and Other Vel lows," otc. West Dranch, Ia., was the It fown to fall in line, and If the same classof Iadicn take up the work In other towns, vast guod will be done, and Matilda's recrestion will be worlh mpre to the country than the labors of all our plotfurm orstors. Thess clubs will boss numerous as the forest trees soon, malnly becauso the lady says they ahall, "Tho extraordinary foat completad at Lon. don on Faturday night by Gale, the Cardiff pe- destrian, —walking 4,000 quarter milea in 4,000 coneecative perlods of ten minates each, —ia withe out parullel ip athletic annals. Compsred with it Capt, Barclay's bistoric 1,000 milcs 1n 1,000 hours —a feat fraquently duplicated sinco, and lIately even by an English woman—sinks lato the grade of minor performances. Robert Skipper's 1,000 half milesin 1,000 bhalf hours was not nearly asre- markable a performsnce ss this of Qal becaneo the length of continuous sleep poasivi t each reeting intorval wea much groster. Gale’s provivue feat of 1,600 miles In 1,00 consecutive hours was also unprecedented, ‘I'he doctors who made the Vanderbilt sutopsy found that the Commodose was sfiticted with ucarly all the ille that Aosh 1s heir to, snd might have died of anything else as well as of vld sgo. Dr. Bumaon fuund evidences, ja his gencral cxaminstion, of tbe fullowing discases; FPerfurs- tlon of the colon, pentonitis, chronic kidoey dis- ease, cystitls with enlarged prostate, stenoats of the rectum with porforation, ana caries of the coo- cyx. Dr. Btimaon desired to know if he had any discretion in the matler of anawering questions, in view of an article which bad appeared. Tho Sur- rogate said that the trouble was that tho nows- papers did not know as much about law as about Journalisus, aud decided tuat tho witacss muet an- awer questions askod blm. ‘The recent death of M. Ives Henry is & Mterary event. M, Henry was a youog Breton who came up to Parle anzious for & caruer, and who found Jt by establishing a series of ** cunforences.” or lectures, under the very nosa of the Empire, and downg much 1o facilitate the expression of pub- lic opinlou on various topics. Under the Republio Tleuty’s conlerences wure frevr than in Napoleou's time, but there was still & paiafal alr of discom- fort sbout thens. Each orator felt the pressure of the sbaurd regulations which baye so long weighed down tho best mindsuf the country, Jtwes i Ueary's courss that aeveral ladios lectured, swosg thiom Madame Olympe Audousrd, who was certalu- 1y sudacious and eprighily, sithough ber taste may bave been somewhat questionavle. The Eazl of Darby wrolo in & copy of his translstion of the Jliad presentsd by him to B. E. Lea the followlog linss: The grave old Bard, who never dies, 1loceive i la our nailve toskne; 1scnd thiee, but wiih ll».'prn‘ o %od siory that e suug. © N Tror bas (allen~thy dosr fsad T e s 1¢40308 srust 3y tromobiog S0 writa the grier 1 focl. 01 f tears! DButles her bear Noae fell 20 pure of erime. 'he widow's m( g or; 's wall b Y Cad D .f.lwlnf. 'm“‘ A I's beart, and Angel' AR AR e u‘ll"ufl-l fral—tlos Los .