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

a THE CHICAGO TRIBUNE : 1877. Thye Taribwne TERMS OF RUBSCRII'TION. TY MAIL—IN ADVANCE—POSTAGE FREFALD, 2,00 3100 Touf 3:80 Entnenns xui 11 Weckly, one year .00 aTtsof A VeAF, per manih 11} 50 S 338 Erecimen copies tent free. Glve Post-Utlice nddress in fall, Inctuding State and County. Temittances may be made efther by draft, express, Tost-Offfice order, o In rogistercd letters, at one risk. TERMS TO CITY SURSCRIBERS. Tally, deltvered, Sunday excented, 28 cents per week, Latly, deltvered, Sunday ncluded, Address THE TRID! d Corner Madteon and Dearhorn-ste., Ch 1. Orders for the deliveryof Tur Trincyeat Evanston, Englewood, aud Iiyde Park Jeft la the countlug-rooun willrecelve brompt atteutton. 30 centa per week. MeVicker’s Theatre. Madlson street, between State and Dearbomn, **The Rella* and** I've Written to Drown,” Mesdames Maye, Stoneall, cte.j Mesire, Wheelock, McVicker, ete. Tlooley®s Thentre. Randolph street, letween Clark and Lasalte. S*Struck OIL" Meadames Moore, Sinlth, ctc.§ Ments, Williatnson, Sullivan, etc. Afternoon sad evenlag, Haverly’s Thentre, Monroe street, corner of Dearborn, Continent.” Afternoon and evening. **Acrows tho Coliseum Novelty Thentre. Clark street, between Randolph and Washlagton, Varlely performance. Now Chicago Thentre: Clark atreet, uppasite (he Sherman House, shazzar's Feast." WEDNESDAY, ** Bel- DECEMBER 5, 1877. CHICAGO MARKET BUMMARY, The Chicago produce markels were rathor quiet yesterday. Mess pork closed a shade firmer, at SILTTH@1L. for December and 8110240 11.95 for January, Lard closed steady, at $7.80 @7.85 for December and S7.85@7.87%4 for Janu. ary., Meats were eanfer, at 4%5¢ for boxed shoul- deraand e for do short ribs, Whisky was steady, st $1.05 per gallon. Flour was dull. Wheat closed ¢ lower, at $1.07 for December and 81,07 for Janaary. Corn closed easler,at 41%c cash and 4lcforJannary. Oais closed steady, at 2434c cash and 24%c for Jouuary. Ryewas Grmer, L 55!5@ GUe. iBarley closed #@Xc higher, at G2c cash and 62%¢ for January. Tlogs weré active, and closed firm, at He¢ decllue, ot $4.9024.40, Cattle were active and lower, with sales at £2,00@4. 40, 8heep were rteady, selling nt §2,7024.12%. In atora In this city lust Saturday: bu wheat, 010, 1:H bu carn, 111,201 ba osts, 55, ba rye, 656,871 bu barley, Ditto wheat fn Milwaukee, 203,240 bn, 11,740,811 bu; of carn, 6,490,570 hu. Inspected {uto etore In thls city yesterday morning: 5 cars whent, 101 eam corn cars oats, 1 car rye, and 32 cars barley. Total 1208 cars), 81,000 bu, Une hundred dollars in pold would buy $102.0214 In greenbacks ot the close, o ey Greenbncks at tho Now York Stoek Ex. change yesterday closed at 97, The Chinese authoritics have torn up and abolished the railway recontly built from Blinnghai to Woosung, It is probably the opivion of tho venerable nation that it ins flourished sinco high water without the comprelionsive 1winistrations of pig-tailed GouvLps, Scorrs, nnd VaspenpisTa, aud that the exampls recently furnished Lero in our snip of a couutry should not predisposo an aged and expericnced peoplo in favor of an innovation of such untrustworthy cliaractor. Dendwood, tho metropolis of the Black Mills coudtry, nnd the presont headquarters of tho whole Quizotic Liost on this continent, is said to bo complotely invested by o large Loud of lostile Indians, nnd troops have been ondered, in great hasto, to mareh to the vescue. Ono of those appalling snow-oyclones called blizzards s raging through Dakota, and the little handful of regular troops which will to-day go out from Dismarck i con- fronted by dangers of no ordinary magni- tudo, The Houso of Represontatives yestorday ropealed tho jron-clad oath, mnbstituting therefor o milder-mannered phrase more in koeping with the generul idos of sactional good-will and mutual forbearance. It alio repenled tho statutory provision making servico in the Rtobol army n cause for chal- lengo in tho making up of juries. The world moves swiftly, and many peopla havo forgot- ten mony things. Such propositions, had they beon made even five ycars ngo, would have fornishod thomos for cxciting debato In both Houses. But yestorday these bills wero passed without ono word of objeotion, and. without o dissenting voto, Upon tho heels of the snnouncement that the Becrotary of the Trensury favors the reimposition of the duty on tun and coffec comes tho report from Washington that the presiding officors of tho Sonate and llousa lave laid their beads together to prohibit tho frequent importations of * cold tea™ Into the reapeetive chambers of Congress at the call of thirsty moembers, This lattor traffio is belioved to affect tho internal rather than tho external revenue receipts, ns tho product from which the * tea " is steeped is believed to exist in large quantities in the Westorn Btates, and tho *fen" itself is found in conuidorabla quantitics in its pris- tino purity in Bourbou County, Kentucky. The question arlses, Is not ‘the spectre of centralization assuming the corporeal in this attempt to infringe upon the dearost rights of our legislators ? The question of Jaxr Remu's liability to prosecution for civil damagos on account of his shore in the Whisky-Ring frauds in Chi. eago was yesterdoy argued before Judges Duvsvoxo and Broporrr in the United Btatea Circuit Court. It {s claimed for Rxux that the sgrecment with the Government coucsel, whereby ho was to testify * fully, fairly, and truthfully,” concerning the crook- educas, all of which he kuow and s great part of which ke was, included a contruct of immunity from clvil n8 well as criminal prosecution, and the testimony fuken i the caso Lears exclusively on this question, ‘The question whether 1tzm car. ried out his part of tho agreewont, nud tes. tifled ** fully, fairly, aud trutbfully,” scems oot to have been considered ju the judicial inquiry. To the unjudicial mind it would secw that this brauch of the subjoct might properly have formed a part of tho investi- gation. — Tho North German Quzette, in rveferring to Lord Deuny's reccat reply to tho deputa~ tron representing the belligerent side of the questiou as to the guarding of Drdtish inter. ests, concludes that the English policy with refcrencs to the Eustern question is to let these matlers severcly slome. With this View of tha case tha Gazelts appesrs to be very well satisfied, being of opinlon that British interforence in affairs that concern principally the Continental Powurs Las here- tofore worked to the injury of the European pations. The article is guestion closes with a Lint that tho threo Emperors are not only eapablo of dealing with all the twsuss of the Total vimble aupply of wheat, | pending contest, bt havo already laid their plans and agreed upon a programme of settlement which will command the respect of the belligerents, and at the samo time not in any way compromise British supremacy where England has tho right to assert it. Concilintion has been the theme and bur- den of the Fronch dispatches for the past fortnight, yet no one, g0 far as known, has been conciliated, The Chamber of Doputics lias {aken the initial steps in that direction, but hns been met by the Elysco with repented repulses. MacMamox's advisers are appar. ently persons of the political stripe who don’t desiro the formation of a Patliamentn- ry Ministry, Thero is n secrot and powerful influence behind the President, and this in- fluence is working for the gool, not of the general State, but of the varions monarchical factions which have frea nccess to the pres- cnco of the Marshal. This inflnonco is making itself felt in tho Executivo orlers that must sonnd strango to tho ears of the average Frenchman who is told that tho Republio s Liborty, Tho common people of Franco laving by their votes elected n Iargo mnjority of the Chamber of Deputics to guard their interests ngainat the constant- ly.recurring and insidions attacks of the Monarchists hnve recontly adopted tho simplest method of indicating their opinions and desires with regard to the pending crisis, Petitions hava been circulated in all parts of tho country, the object Loing to givo an ex- pression of the publie fecling upon the ques- tion which most nearly concerns the people, But tho sacred right of petition, it appears, is not recogmized by tho powers at Vorsailles, and the fron heel is brought into requisition to trample these expressions of the popular will under foot. There will bo no concilia- tion so long as the legislative and executive branches of tho French Government lock upon each other as public enemies, — NATIONAL SAVINGS BANES AND BONDS. 'I'ho President in his mossage and the See- retary of the Trensury in his annual report Iay great stress upon tho point that thera are 720,000,000 of 6 per cont bonds still out. standing, and that the funding of these bonds in others bearing n lower rate of iu- terest would accomplish a large annual ro- duction in interest; and in their zeal to se- curo this reduction of interest they propose the issuo of agilt-edged bond, to be exclusive- 1y pnyablo in gold, with o special guaranteo ngainst any declino in the valuoe of gold. Tho Presidont, howaver, in anotlier part of his messago, proposes tho fssue of a savings bond,—a popular boud,—aud uses this lau- gunage: 1recommend that suitable provision be made to enable the people to castly convert their savings into (Qovernmient recuritios as the best mode In which smail savings maybe well securcd and yield a maderate interest, It is an object of public polley to retatn among ourawn people tho securities of the Unlted States, In this way our country s ruarded against thelr sudden return from forelzn countries, cansed by war or other disturbances bo- yond our limlits. ‘ 'I'e Socretary of the Treasury discusses tho same qnestion more at large., Hesays: ‘The uttention of Congrees {s called to the great value to our fellow-cltizens of the organization of some plan for the collection, aafe-keeping, and prufitable employment of suall deposits by the people, How far this can be donu without trenche ing upon the vroper functions of the State Goy- ernments fan question of diticulty; yet It bs Ime portant to secure, If possible, » general system thronghout the United States, Tuiw can hardly be effccted by the organization of & mutitude of save inza banks, depending upon the fidelity, integrity, and axill of thelr oflicora, but the beneficial object of such banka wij deposlt of small derofics Iu the Unlted States, wnd. the fssnc of Governmeont certificates, convertible on damand of tho holderinto 4 per cent honds of the Umited States of such character, description, and amount uswiil enable and 1nduce prudent persons to con- vert thelr carnlnga Into a public sccurity of stable value. The monoy thus recelved could Ls em- plosed in the redemption uf outstunding honde bear- Ingn higher ratq of intercet, By some such sys- tem it ds believed that the ereat body of our public debt, reduced to fts smnllost posaidle barden, could be distributed among vur own people, With a slight modification uf existing law this beneficial result would be secured. The deponts now held by savinges bauks throughout the country amount to S84, 161, 804, deposited by 2,300,000 poreons, and mostly by deserving citizens, who thus wisely seok to preserve sinall savings for futuro need, No object coulid more strongly appesl to tha con sllerate judgment of Congress, The heavy lossed that have been sustalned through savings banky, whose funds have been Improvidently loaned upon insufilcient wecurity, have Iullictod far greater in- Jury npgn tha depositors than would a almilur los sutfered by pereons vngaged in banking vr com- merclal pursaits, The Sccretary, thotefore, recom- meuds that suthorlity be granted tolssua cortiicates for mmall deposits, convertibla Into 4 per cent bonds now anthorized by tuw, the proceeds ta bo d solely for the redemption of bonda bearing o rate of tuterest, and nuw reaeemablo at par, Thoe Comptrotler of the Currency also dis- cunses the subject, and says: The French Governinent issues small coupon- bondy, or rentes, Indenominations na ‘low ns 100 france, ur about 820, for the convenlence of thoss who dosive to invust their asvings In the public funds, 'The recent faflures of thronghout this country, having on depos arga amounts of the people's carvings, hss susgosted the propriety and policy of the Isaue by the Gov. ernment uf 4 per cent bonds of & denamination Toss thau 850, 'There e but little douht that the savings of the people would bo largely invested in such hauds, provided thoy conld bu readily nego. tlated by the holders, when deslred, without matertal losy, ‘Lhu Presidont and tho Becrotary of the ‘Trensury both favor the remonctization of tho silver dollar, but thoy insist that such sllver doltar shall not bo mado & logal-tender in tho paymeut of the priucipal or intorest of such vortion of the national Londs as liave been issued sinco Fob, 12, 1874, when the silver dollar was discontinued. 'This is n concossion of the fact that all the bonds isaued lefore 1873, aud now onuitand. ing, wero issaed whou tho silver dollar was o legal-tender, and way lawfully be redecned fn that coin, Now, then, we Lave n protty olear courss to be pursued i etfecting the funding of all the outstauding G per cent bondy, Lot tha silver dollar Lo recoiued, and let the Governmont issuo a 4 per cont bond in denomiuations as swall as $25, and recoive silvor or greon. ‘backs, at the option of the purchaser, in ox- chango for such bouds, the principal and in- terest of which to be payable in luwful tnousy, The silvor recoived from tho sale of such bouds can be paid over to the holders of tho 5-20s, and the greenbacks ruceived can wvasily bo exchanged for silver, aud the lattor can alio bo tendored to the holdors of ihe called-in 5-20 bonds. ‘Thore are in the United States over 2,000 Natioval Davks, and 3,000 or more private and savings banks. If theso 5,000 bauks were allowed, as the Comptroller of tho Currency wisoly advises, to invest their vee serves in these small popular-loan 4 per cent bonds, there would bo that number of active sgeuts, not ouly purchusig and holding these saviugs bouds, but deeply iuterested in having thom distributed through tho country, Tho Comptroller of the Currcnoy states that the bauks of Scotland, the best-monaged baoks i the world, and all the incorporated bauks of Englaud and Irelaud, hold uot over & per cent of their Hubilities in sctual money, ‘Phe rewmaindor of their rusorves are uvested in English vousols, which bear ouy 8 per cent interes!. Tho aggregnte of the reserve fund ¢f the banks in the United Kingdom held in British consols is as high as $600,- 10,000, and there ean bo no question but that the 5,000 and more bauks of all kinds in this conntry would put most of their reserves and all their unemployed funds in theso popular-loan 4 per cent bonds, which for all practicable purposes when money wna searco wonld be na available as currency. 1lero, at once, the banking institutious of the country would find a market for an amonnt of these bonds equal perhaps to the half or the wholo of the sum of 6 per cent bonds, Ina little whilo the Government conld eall in all of the oulatanding £-20s and save 2 per cent or $14,000,000 n yenr thereon, ‘The savings deposits of the country ng- gregate about 21,000,000,000. Botween the demand by the bunks and that of tho per- sons biaving savings deposits, there can be 1o question that the Sccretary of tho Treasury con find a kot for 4 per cent bonds to n sum equal to that of all the ontstanding 6 per cent bonda, Hore, then, in a_result saving to the country a very large sum annually in interest, reducing tho weight of the uational debt,—n result to be nccom. plished without nny cost save that of print- ing the bouds, aud without the payment of percentages, or speculators, or syadicates; aresult that will at oncs place the silver dollar and the greenback nt par with the 4 per cent bond, which will always nearly, if not quite, equal gold ; will give permanency and stability to our eurrency, and cheapen gold by lessening the demaud for it Ihe Secretary's scheme for resumption n year hence will be enormonsly nssisted; the popnler 4 per cent bonds will havo mado the legal.tender silver and greenbacks. If tho Becrotary shall be nble, ns both he and the President confidontly predict, to begin spe. cie paymonts a' year hence and maintain them, then the greenback will be equivalent to gold, and, with the silver dollar, both sustained by convertibility into 4 per cont coin bonds, there can ba no question ns to the wisdom and expediency of receiving both forms of currency in exchange for the popular bond. In fact, it is impossible to resist the fmpression that the popular 4 per ceut bonds issned in exchange for silver or greenbacks at par will go far towards solving all tho hard inancial problems now so puz- zling to tho wiso mon of Congress. For theso reasons we earnestly urge Cougress to oadopt theso recommendations of the Presi. dent nnd Secrotary of the Trensury, and give them legislntive form at nn early date. SECRETARY BSHERMAN'S RESUMPTION BCHEME. Secretary Snrnyax believes in resnming spocie-paymenta Jan, 1, 1879, 1le wanta the outstanding groonbacks to be contracted £52,000,000, and roduced by that timo to $4300,000,000, ‘Thoro will be some reducticn by retiring greenbacks in proportion of 880 to the {ssue of every 8100 of new National Bauk notes, and he proposes to apply the Funding act for the remainder. He oxpocts to hinve §100,000,000 of available gold in the I'ronsury whergwith to go at the work of re. domption, andYhis ho thinks will suflico, If we concode all of Secretary Suensan's san- gulne expeotations to lave been realized, then tho Government will liave 2300,000,000 of greenbacks on hand, or at least all the greenbacks it aball have been ablo to redcem, What shall Lo done with theso redeomed greoubacks, i8 a problem left un- dotermined by the Resumption act, and wo are inclined to think designedly so. At all ovents, Mr. SuzustaN, who waa then in the Benate at tho head of tho Financo Commit- tee, rofused to oxplain whon ho was engl- neering tho Resumption bill. Now, hiow- avor, ho rocommonds that Coungress shall pass such additional logislation aa will ena- ble him to reduce the amount of greenbacks to 2300,000,000, and authoriza the refasue of greonbacks, so as to keep as much of this amonnt in circulation * ay the exigoncics of the public iuterest oy requive,” This wmeans, necossarily, that the rolssuo should ba at the discrotion of ,the Secrotary of tho Troasury, Wo subjomn an cxtract from the Sccretary's roport, which gives him the op. portunity of stating his own ease 3 ‘The Secrelary ventures to express ‘the opinlon that the best currency for the people of the United States would be & carctully-lmited amannt of Uunited States notos, promptly redsemablo on proe seutation in coln, and supported by ample resorves «f coln, and supplamcnted by a system of Nationul Tank, ureanized under goueral lawn, freo uud open to al), with power to fseue clrculating-notes sccured by United States bonds deposited with i Government, and redeemablo In United state notes or coln, Such & syalom will securo to the peopla a aafo currency of equal value in all parts of the country, recolvable for all dues, and easlly couvertible into cofo. Iuterest can thus be saved o vomuch of the public debt as can be conven. fently maintained 1n permanent circulation, Jen ing to Natioval Danks the propur busl- ness of auch corporations, of pro- vidiug currency for the varying chaug- cs, the obb and flow of trade, , . It Is far better to Ox the waximum of leal-tender notes ot $300,000,000, supported by a minhnum reaeeve of $100,000,000 uf coin, ouly to be used for the redemption of notes not to e relssied uatil e resorve s restored, A demand for coln to ox- haust such o reserve wmay not occur, but, if evonts force it, its existence would be known and could be declared, and would Justify a tewporary suspen. sfon of apeciv paywents. Bome such expedient could no doubt be provided by Congress for an cx- ceptional emergency, Inother times the genersl cunfidenco in thexo notes would maintalu themn at par in coin, snd justify thele uso as rescrves of banks and for thu redemption of vank-notes, But Becrotary Suxnman faily, so fur as we have been able to discaver, to explain Avw ho is golug to roissuo the groenbacks that shall have boun redsemed ju gold, It is not con. templated, wo imagine, that the Govornment oxponsos shall be allawed to exceed the Gov- ornment rovenues, aud the dobt be thus iu. crensed for the muro purpase of paying out theso greenbacks. There can certainly be no design that the Governmont shall go into the banking business and discount commer. clal paper with greeubacks or loan them on collatorals. Then there secms but one of two waye in which the rodeemed greunbacks can b reiasued, viz.: cithor by selling thow for gold or using them to buy bouds, ‘Wa will take the purchase of bonds as the first hypotlicsis. When the Government be. comes a purchaser of bouds, the uffect is to onhance the valus of the bonds, and the re. sult will bo that the Goverament must pay a prewmium to redeemn its own obligutions, ‘This is of itself an unprofitavle operation. But it the greonbacks sball thus be reissued at a loss to the Government, then tho importers aud speculators will be- gin to roturu them for rodewption in gold ot their face. Tho Goverument, according to Mr, Surusan’s scheme, will then have o coln reserve of $100,000,000 (soquired in some unexplained way) with which to meot this new domand for redemption. This sum exhgusted, and the dewand still going on, then the ,Goverument must either suspend specie payments agaiu or bogin to scll bonds at par or bolow in gold for which it bas re- cautly paid a premiun in grecnubacks. This process of buying bouds at & prewium aud selling thom at'or below par might go on indefiuitoly, but it would be a very costly WEDNESDAY. DECEMBER 5, scheme to the Government, with the single result of temporarily floating a certain amount of the Government notes, The only other method forreisuing groen- backs that have heen redeemed in gold is to sell them again for what they will bring in gold. This will simply be an effort on the part of the Government to negotinte non. interest-boaring notes in the open market. 1t must look to bankers and brokers for ac- commodation. Dat bankers and brokers do not make accommodation loans for nothing. If tho notes offered them bear no interest, then they will look for their profit in a dis. connt, Having furnished tho Government with goldin exchange for greenbncks at n premium, be it ever so. small, the broker will turn on his heel and present theso same greenbacks for redemption in gold at par, ‘The broker will continne this operation will- ingly as long as tho Government can stand it.. If the preminm on gold which ho charges the Government be only 1-10 of 1 per cent, and ho furnishes & million of dol- Inrs, the broker can mnke n cool $1,000 by turning around and domanding gold at par for the greenbacky he has just taken ot a profit, It will not do to say that this sort of thing will not happen, for it is preeisely tho thing most likely to happen, and which will surely oceur. Thus, of the only two methads which sug. gost themselves wheroby greenbacks once re- deomed can bo reissued, neither con he adopted without an actual loss to the Government, If Secretary Snesuan knows of any other method, ho should hasten to ox- plain it, or else withdraw his schemo for re. tnining redesmed greenbacks with the privilega and discration of reissuing thom. We suspoct that this implied promise of re- issno has beon suggested as a bait to bo thrown to those who are opposed to tho enforced resmmption of Jan. 1, 1879, Itis iutended to appoaso those who are justly alarmed at the prospect of n sudden contrac- tion of the currency, by making them bolieve that the currency thus withdrawn can bo put ngain into the market. But how? This ho hns nevor explained. The simplo fact is that resumption requires tho retircment and destruction of groenbacks, and it is unlair lo conceal this obvions necessity. A NOTABLE ANNIVERSARY. Abont ten months since Mr. LoNornLrow attained his 70th birthday, and Mr, Wimrrien will, on tho 17th day of this mounth, como to the samo period in bis life, 'Tlie reaching of this venerablo ago by so distinguished a por: sou as Mr., Wartrien is a memorable event, Threc-score years and ten s tho limit fixed by thoe Scriptures for the ordinary life of man; and, though this limit is often excosd- cd in mere existonco, it is seldom passed with onergies unimpaired or productive powers in full operation. Though it caunot boe aid that Mr, WintrTinn does not fool his yeara, or that a3 a poet ho has n careor still befora him, it is true that ho has not yot be- gun to decoy. Iie is still a large figure in contemporary literatare, and even as a versitier can competo successfully with auy poet of a Iater goner- ation. Tho Jiterary World for Decom- ber prints tributes in verse to Mr, Wnirtien from ncarly ovory Ameorican poet of amni. nenco. Hesny W. Lozorenrow, Baranp Tavion, Epbxuno C. Steosan, Owuven WexpeLL Howxes, Pave . Harwe, J. G, Horuanp, Geonor P. Lartunor, Hirax Ricy, Lypra Mant Coiups, Jastes Freeaay Crangz, Winiaw 8. Suosreeey, Oeuia Tiaxten, Cuantorre F, Batey, Erizaneru Sroant Pncirs, and Wininas Leorn Gan- nisoN aro among the nnmes ropresonted. Lotters aro also printed from Riomanp 1L Dawna, Witnnast Ovuien Bavant, Gronaz Daxcnort, Prestdent Evtor, Col. Hiaarysox, Fraxcis Panguan, Mra, Stowe, and others. The remarkable thing in all theso congratu. lations iy the tone of affectionnto admiration in which thoy ave exprossed. Fosw mon wko have played so active n part in a current politienl agitation' could retain, as AMr. ‘Warrrice has, the personal regard of all his contemporaries, No onoless upright, less ear-’ nent, or loss pure inthought could hiave buen so widely honored fn old age. "Cho losson of AMr. Wurrrizn's lifo ia not drawn from his success as o poet. Famo camo to him In consequenco of natural gifty, which, if thoy had not beon peculiar and be- yond the reach of moat men, would not have brought fame. 'Tho conditions undor which he laborad in this respect cannot by compre. Londed fully, or at least not realizod, by those who havo nover coufronted thew. But the conduct which surrounds his fame with a atill brighter glory—the honor and affec- tion of his countrymen—can by understood sud imitated by tho humbleat reador of his poetry. A high devotion to principle made b us o man what mauy poets bave failed to be,—a philanthropist. Sacrifice of sclf to the comtnon good has been the oconsplenous rule of lus life. Winrrien did not bLocome au advocate of the aboli. tion of alavery by nccident, or in tho lato yeurs when succoss scemed in. sured and opprobium was tho hardest trial to be sustained, Forty-one years ago he wua appointed Bacrotary of tho Amorican Anti- Blavery Bocioty, and only two years later the office of hiv newspaper was burned and sacked by u mob, Ho was thenceforth not merely strouger than over in his convictions, but devoted to the causo body and soul, so that ho in sowe mensure sacrificed his lterury ruputation to tho neccasitics of his party, He would have written porhaps more sud better poetry, and would have luft botter meimorials of Lis work, if ho had notboen cu. grossed in political carcs. During all the period of his connection with the Anti. Slavery Boclety his writiugs wers tinctured by the thought which had takon such posscssion of his wmind; aud, from nliterary stand. point, it-was his misfortuno that tho success of his cudeavors as au ugitator deprived his work as a literary man of pormanent jutorost, His reputation as apoet will rest chiefly upou what bo las doue siuco tho abolition of slavery, and this wos done too late per- haps to have tho benufit of youthful fire aud euthusiasa, Mr. Wiirriza deserves to Do remembered, thorefore, as ouo who on. dured contumely aud lois in o righteous causy, and who sacriticod to it prospects of famo in auother direction, 1o msy bave fallen thus upon & lifo that will be in the Ligher seuso its own roward, since it will give him a place among tho benefactors of his race which no mere literary succeas could insuro, A suporficial correspondout thinks Le hay made & powerfut polut in tho following: ‘Whero ls tho econowmy In remonetizing the sflver dollar be o full tegal-teuder for sl debts, public and privatet It is quite certain that whereas tho Government le now refunding tho public debs at or abuot 4 por ceat, with futercst and principal understood to be payablo tn gold, that on su un. Mwited wilvee basls they would bave 1o pay st least G percent, OF 30 exccss over guid rates of eay 2 porceat. Oo s tulrty-year bond this would smount 4o paylngv0 per cent mose for tuo peivilege of paying 1a aliver; sud if the bond was renewed fur iweaty yoars more, tas boud would bave to be pald twice orer, henlden the 4 per cent yearly interest, Whero fs the economy in this kind of financicring? Why could not the Government refund in a 4 per cout silver bond as well as in a 4 per cent gold bond? If the (Government offers to scll n 4 per cent thirty-year bond for silver dollars, why would not the people buy it with silvor dollara? If the Government will issne 4 por cont thirty-year bonds, and taka silver in payment, the purchaser can- not object to being repaid, principal and in- terest, in tho samo coin, With the silver recoived frum the public in the salo of those bonds the Government can call in an equal mnonnt of its ontstanding five-twenty 6 per cent coin Londs, and cancel them, Those bonds are all payable in silver at the option of the Government. Everybody knows that. Honco there would be no loss of 2 per cent, 1 per ceut, or any other per cent, in selling 4 per cent bonds for silver, and with tha silvor thus obtained calling in aud pay- ing off five-twonty 6 per cent bonds, nnd such 4 por cent’silver bonds would go off liko hot cakes, 1f tha silver dollar wera re- monetizod. . THE MISSI3SIPPI LEVEES, "Tho Southern press, uuder the lead of tho Lonisville Courier-Journal, keeps harping away npon the necessity of approprintions for stopping up the outlets of the Mississippi River, or, s they style 1t, for the construc- tion of lovees, tha object beiug the protec- tion and roclamation of private property. The Courier-Journals Intest schomois the bill of the Ion. Casey Yousa, for leves con- striction, which asks for the issuo of 315, 000,000 in Government bonds, paynble thirty years from date, and to bear interest at G per cent, payable semi-nbnually. in gold or silver coin, What Is proposed to be done wilh this £45,000,000, which in time of courdo would grovw into $145,000,000? 'The Courier~Jour- nallays outa dnzzling scheme. 'There aro forty miles of levees to be built in Arkansas, Mssissippf. and Lonisiana, which wero washed away two yoars ago. There aro needed 1,000,000 yards of leves work at Morganza and Bonnet Carro ; that is, these two ontlots of the rivor must be stopped up. ‘Tho Intteroutlot, into Lake Pontchartrain, was nndo ot the Inst overflow, and lowered tho river until it relioved the np-country for n long distance. But Morganzs and Bonnet Carra are o small part of the process of shul- ting up tho river and attempting to restrain it from dischinrging its surplus throngh nat- ural outlets, by heaping it up Letweon still lugher embankments. We aro informed that the rivor-front requiring loveos, from Cupo Girardeau, 3o., to the Gulf, mensures 1,270 miles, According to the proposed plan, these lovees aro tn bo set n mile back, with a Lelt of timber to bo plautod s a breskwater, 1,000 feet fn width, 'The specifications call for a coutinuoua lovee of 1,270 miles, with an average thickness at the base of 114 feot, and 62 foet at high-wator line, This is the modest proposition mado by the South, which the Louisvilla Courier-Journal says will be agreed to in timo, when the Domo- crats comn into powoer and have control of tho money-bags. We would like to ask tho Courier-Journal what kind of a job it would bo for tho Govornwont to construct & Chineso wall 11t feet wido at the bottom, nnd G2 feet wide at the loight of 14 feot, across tho States of Iows, Illlnoly, Indiana, Ohlo, Penusyl vonia, and New Jorscy to Now York City ? And yet this ia tho kind of schemo that the South proposes, only their wall is 270 miles longer than the Chinese wall. ‘This wall is to be built Ly the {ssuo of bonds, interest sud principal payable in gold, and tazoes aro to bo levied all over the United States for thirty yoars jn payment for this assumed protection to private property. Upon what principle would the represontatives of the people, North ns well as Bouth, propose to voto for this schome? Whero would thoy find the coustitutional right to build o foot of loves for the protection of . private property 7 If thoy claiin & right to build leveos on the Misslssipps, then thera is wanifostly the same right to build levecs on overy river in the country, and a city on tho banks of the Ohlo or Susquehanna, or s farmer on the banks of n muddy creek that averflows hislowlanda in thespring may, with aqual proprioty ond right, demand that the Government shall build luvees to protect the property. 'The sizo of tho stream makos no differonce with the question of right. If the planters on tha Missiusippl have the right to demaud that Government shall pro- tect thoir farms, then the farmors on any stream iu tho country that overflows have n right to the same protection. 'Lhere is mo lawful reason for the demand, no constitu. tional ground upon which the Government cnn go into the leveo business, Thero is o plain, simple, and constitutional way in which tho Governizent can rolieve tho overflow of the Mississippl, and that is by gving it outlots instead of shutting thow up. ‘The Bonnet Carre crovasso itsslf snggoested the plan, Tero tha river toreits way through, forming a natural outlet into Luke PPontchar. train, which was lower than the lovel of the river, thus lowering the river two or throo feet, and if tho outlets from Lake Poutchar- train into the sound bad becn suficient to accommodate the overflow, thu fall of the rivor would have becun still grenter, The Bonnet Carre crovasss suggosts the con- struction of a cuual which not ouly could be lawfully mads, but would be in accordance with tho lawa of Nature, in giving tho river an additional outlet suficient to lower it five or six foot almost by its own action, Nature hes pointed out the spot whero such an out- lot can be easily made. Cut a ship-canal from the battle-ground below Now Orleans throngh the Cyprous swamp into Lake Borgne, and the problews is solved. The Government has only to grub out this swawmp, clearing away tho roots und stumps, and the river itélf, by its very full aud curront, will almost cut its own way {hrough, not ouly relieving the overflow, but also forming a practicable skip- caual which will always Lo open until the water of the river approximates to the lovel of the ocean. Dut, say the luves advocates, where is tho constilutional aithority? It it is unconstitutional to build lovces, is it wnot wunconstitutional to build shipcanale for the relief of the river? Thero is tho same authority for building this cagal that there 14 for msk- ing any navigation improvement,—the same authority that thero was for the falls around Louisville, for the Fox River improvement, and for the very jetties now in process of construction at the mouths of the Mississip- pi. This chaunel would not alone rulieve the river, but would improve navigation by giving the whole commorce of the Gulf coast a clear approach to Now Orleans, sav- ing & dotourof two or three hundred milos. Buch a caus! would bea saving of mouey. Even if the other scheme were constitution- al, $45,000,000 would not represent one-half the cost of constructing this 1,270-wile wall of levee, with the strip of condemned river- front a mils in width for tho entiro length, for which the Government would have to pay, and with the constant ro- paira mnde necessary by this colossally- absurd proposition to dam np the Mississippi and keep it from overflowing by piling its waters up higher. The canal sehome has every advautage in its favor, first, becauso it ia constitutional ; second, beeauso it is more economical; third, be- ennse it will relievo the overflow of the river by the only meana which natura points ont; fourth, becanse it will improve navigation from tho Gulf to Now Orleans; and lnstly, becauno it does away with a schemo to plun- det the Treasury for the bonefit of private property. ‘T'wo hundred millions of dollara wonld not finish the wall of lavee advacated Ly tha CourierJournal, and when finished, the next overflow of tho rivor would bronk it down again, The new County Board has been nsherod into existonce nuder auspicions conditions by the choico of Mr. SEXNE a8 Dresident and his delivery of a_ stirring appenl for re- {renchment, which re.echoes the rentimentof the entiro community oxeept those who are engaged in the business of tax-eating. M. Hesye explained very explicitly in his open- ing upeech that the County Bonrd cannot go on sponding monoy nt the old rate without incrensing tho deflciency at the closo of every yenr, and thus creating an unlawful dobt, Its authority to raise taxes is restrict- ed to 75 couts on tho 3100 of valuation, and the total revenues of the county will be $1,516,500 at the utmost to meet an out- lined wexpendituro of 31,782,865, leaving a deficiency of $266,365, The Doard canoot enlarge its own powers for lovying taxes, and it must then reduce expenditures, ‘Tho great saving to be mado Ia in the rednced cost of maintain- ing the public charitics, and Mr, Bexxe is of tho opinion that this can best bo accom- plished by personal purchase from loading merchants of the supplies necded, and by holding the Superintendents of the various charitios respousible for their safe keeping and economical distribntion, Such aschemo will requira tho dovolion of moro time than tho Conuty Commissioners have been nccus. tomed to givo the public, but Mr, Sexne reminds thom that they are paid by the pub- lie, and havo accepted their places with the understandiug that thoy shall dovote their thna to the public interests. o nlso re- minds them aptly phat four of tho presont members of the Board wers clected last your Ly tho Democrats under the watchword of “Ppen and Reform,” aud that five othors have been elected this year by the Ro- publicans under the pledgo of * Economy and Reform.” Thus both Democrats and opublicans in the Boavd are pledged to re- trenchment, and now let them set about it. R Soms weeks ago we tound fu varfous papers statements to the effect that when the bill making an appropriation of 2 millon and u half of dotlars for the Centennlul Exposition was pending In Congress, Mr. WiLwiax M. BrriNoeen, fopresentative from the Springfeld District ln this State, overlooked and read an amendment to the bill prepared by Mr, Epen, also of this State; that thisumendment changed the character of the appropriation 80 as tomake 1t a foan, and that Mr, EpeN intendad to offer It when the proper time arrived; that Mr. Seisoen hurried to his own desk and commit- teil to writlng the BoeN umendinent so far as hie could remember the terms, and, subsdd quently getting the floor In sdvauco of Epey, offcred it tu the louse, and it was adopted;. that while the EneN amendment wus clear In its lanzuage, that submltted by Berixoen was 8o illy put together that the Cene tennfal Commissioners refused to pay back the money becauso such o require. ment was not contaloed fun the law. The statements further affirmed that Mr. HeniNoes lud bezged the Attorney-General to let him make an argument befors the Bupreme Court on the sult for the recovery of the money, and that aiuce than Mr. 8riungen hos asked Congress to vote Lt a fee of $10,000 for il legat servives, A letter from Mr, SeriNoEn assures us that all theeo statciuents are untrue, 80 far an he I8 concerned, and that (1) Le never had any knowledge that Mr, Epex had prepured or intended to offer any nmendment on thut subject, aud that no suggestion was ever made to bin, directly or indirectly, on the subject. (2) That ho never asked the Attorney-General to be permitted to nrgua the cave iu the Supreme Court; that the request todo so proceeded from the Attorney-General tohtm. (3) That he has uever presented a bl for $10,000, or any other sum, to Congress. What he has asked is permission to go before the Court of Claims and prove thie value of his setvices. If those serv- fves wero worth nothing, then he will be sub. feeted to the coste. tutendluge no tojustice, and belleving at the timetho statemonts to be true, wo givo Mr. Brrinoxn the full benefit of his de- ulal aud explanation, ———— . To the Editor of The Tribune, Nontuwoou, Ia., Dec. 2.—If | understand the osition of ‘Fu Tutsuxe, it malntain, t the 1axrToN Government is the fawfu) Govornment in South Carolink, aud ot the same time clalme that Butien, who was elected Lnited Statcs Senator by the HaurroN Legislature, Jsnot the logally-clected Benator from that State.' Am [ correct? 11 a0, Is ot that an fnconsiutoncy? ‘What (s Trie THIDUNE' vusition bn Stis matter? " Very rewpuctfully, L. W, Swaira, Mr. SstrTit ouzht to kuow enourh to know that it frequentiy happeas that oue party elects the Governur aud the wther the Legislature at the samu electlon. Thus the Republicans carried the Leglslature of Indiana in 1976 and the Democrats elected * Blue Jeans " Governor atthe sume thne, The Republicans won the legtslature ot New York last yrar and lost the Governor. Tn the case of South Carollna, IlastrroN ran largely alicud of bis tleket, and the Repudlican Supremo Court of the Staty on o canvass of the returns declared him entitled to the scat. Counix (itep.) was elected Senator wiile CRAMBERLAIN was acting as Uovernor, and before Hanrron was Inducted iuto oftice. The Leglsiature, or rather the Mouse, was di- vided {uto two parts—the Republicans organiz. lugone faction and the Democrats the other, separately, Tho Democrats claimed to bave s majority of legally-elected House members, aud Lield that the Republicans were in a minority (n that branch, but the Republlcans denfed that they were o o minority in the House,: The polnt turued on some contested seats, The Democrats admitted the Republicans had a ma- jority of the Benate. Tho Senato voted iu jolnt sesslon with the Republican House fac- tion, aud Conpi¥ received & majority of all the lawluliy-elected inembers of the Ueneral Asscmbly, This is what the Republicans claim to be the fact. We thiok Counin's title to the Bcnatorship was better In law and fact thay that of ButLgR. Boweak was BuTLER's clal toa seat that Judge Davis, of Hlinols, who acts lu nearly all cases with the Democrats, refused to vote for his admission, and ButLex owes his seat to the vote of the corrupt carpet-bagger who hetrayed his purty sud voted for BurLen 10 keep himaelf out of the Penitentinry. e ee— A Philadelphia paper suggests that the bouse occupied by BENIAMIN FRANKLIN when In Lone don bo purchased by tue Government for the permanent use of the American Embussy, But 1t should be remembered that times and mao- uerd bave changed sluce FRANELIN represented the Culony of Peousylvania, and the old bulld- Iug ou Cravea strect is totally untit for the pre- teusfons of roccat Mintsters to the Court of t. Juwes. i ————— Cousul Bapzav, In a recent otllcial dispatch from Loudon, draws 3 pitisble picturs of the coudition of the poor Ameriean artisan who bus been induced to emigrate, coufident of procur- 1ng nore semunerative cmployient lu England. Half-gtaryed, sud with hardly sutticlent relment to cover hls nakcedness, he appears at the (; States Consulate and begs to be l«:nll;ll:zt::ed Consul BADEAU may be right. Perbaps thy voor American workman dovs as he relates, But there is & general impression among wey. fuformed people that this poor Amerlcay arti. san (who, by the wav, {s usually an Irishiman, or a Scotclunan, or a (ierman) inakes his nppcnr: ance at the Cousulate only after spending for beer all the money which has been given him by the Enclish Trades-Unlons ns the price of Dreaking his contract with the English master who has pald his passage ncross the Atlantic, e r— The London correrpoudent of the New York Times writes that the war-fecling ta again being aroused fn England. He says: While it fs bellnved that every eff tinno ta ba niade be the CALINCEto keap Enelol free feom the confiict, thers I8 n growing fear i diplomntic cifcles that Jouy Bert will be forced into colliston with the Czar, Masranek b thought 10 be working for this end. 1is plan 19 to weakon all tho Powera 1n detatl, ' 1t [+ nererted that Le mated publicly week ago hia convictlou that ** E . gland will be at war with Ruestt withln n few month, ** ‘Thiere is little doubt hut that BraManck would be glad to see Engtand drawn into tho wary but England Is not in a fighting mood. e e—— A vazary of counscience has been reported from New York, where n eervant-girl, after ateal. Ing a ten-doliar note from her emplorer, was so overwhelmed . with remorse at ter wicked act tbatslie threw the money fn tho fre. The attentlon of future defaulters is called to this new style of renorse, not that they mav imitate to the letter the act of this erring servant-girl, but that it may sucgest the st happier idea of throwing themselves in the fire, - ———— There seems to be a slight difference of opinfon between Gen. Guant and WeNpELL PitiLies rezanding the veracity of the late Cianies Sumsen, Mr. Pinineirs quotes the former ag eaying that Sussen ngreed to support the San Domingo Annexation bill, and Bubsequently voted against it. Whether this statement {y correct or not, it would be graceful ln both Mr, Pnserirs and Gen, GRANT to leave Mr. Suuxen to the crities of a later genetation, il i Miss Conson's cooking-school has reopened in New York, the tirst bill of fare belng Purca Ia Crecy, flet of sole, tartare sauce, stufled potatoes, cauliflower au gratln, partridge-ple, ond omeletto soufilee, ‘this would do for a boulevard dejeuncr In Parls. In Chicago we need an aunual ball to remind us that there are Freuch cooks In our midst. et There are three nations which o all proba. bility will not take part in the coming Parls Exposition: Kussla, hecause she hasn’t enough money; Turkey, beeause shie has uelther moacy nor ambltion: and Germany, because sho has too much jealousy. There will be private ex. hibltors, however, from cach of theso countries, e — e No less than three local celcbritfes figure on the pay-roll of the new County and Criminal Court Ulerks, namely, WiLL1ax BUCELRY, cx- Captain of Police, Woobnuny Al Tavron, ex- publisherof the Evealng Post, and JAMES STRW- AnT, ex-Recorder, Such promotions are lndeed rare, b e The winter has fairly set in, and Plevna is not captured; but the Russians have occupled Belobrov and Litchevo, on the Ogust,~that's some coinfort, e ————— Mayor feATS? lias evidently been put out at fiest buae; else, why his eynleal refusal to reut tup Lake-Front to the Chicago Clubl o er—— It Disytanck Is trying to Invelgle Englaudinto awar with Russla, whiat o trying situationit must be for Bissancsl S i Thero was nothing about the Pope in yester- doy's dispatelies, Can it be that he ts deaut —e— Havo you read the President’s Messagel B T PERSONAL. Tho Now York Sun reports Joseph Cook's lecturo {o twelve linos, Misa Juliet . Corson, of Now York, has ro- opened hior varlous cooking-classes. ‘The book that Lias lind the most extensivo #ale In this country is Mre, Slowe's ** Uncle Tum's Cabin,™ Mr. E. B. Washiburne delivered his locture on **The Blege of Parle and the Communa® ln Cinclunat! Monday night. Mr. Nast says ho will never agsin onter the Jecture-feld. 1e fs & bashfu) man, and very timid before an sudience. "T'he lato Binhop Marvin hoped to complete Uls astronomical studies after death, and particu. larly to visit the atuer planets iu his eplscopal cas pacity. ‘The James Gordon Bennett medal for mer- ftorious nctlon among the firemen was prosented on Saturday to Juseph Mc(iowan, n Aremen of Come veny Nu. 6, In New York City. He had saved six ives. The Rov, Mr, Hepworth says that he and his charch recelved solid bonefit from the Moody aud Sankey Hippodrome meetings. At opo time he tack Into his church about 260 new members, i reaultof the meetinga. Frankenstein has painted o picture of the Game of P'olo, to thoorder of James Gordon Ben- nett, from & sketcl wade during November of foat yeur, There ate aix players,—thrce reds on one slde and three blues ou the other, The picture s said to bo full of anlnation, color, and stmoavhere. ‘The Rov. Dr. Eddy said, in the Baptist Ministers' Conference In Nuw York recently, that there are unly six or elght Mormon Dibles 1 ence, the thing Laving been suppressed, and that s slugle copy ouw s worth 8600. Thls scoms to bo suerror, An offerof nuch less than $800 would bring out many Muruion Bibles, Gale, the English pedestrian who hiss lately completed the task of walking 4.000 quarter-mites in 4,000 convecutive periods of ten minutes each, hus obtalued wuch complels masiary over his physical pawers that he slecps occasionally watlo watking, Medica) evidence has buen taken on this polut, uud the fact is boyond a doubt, A very flue portrait of the Prince of Wales, the work of o ltoyal Acadeniciau, has been placed fih the wagnificent Lall of the Middle Temple, in commemoration of his Royal Llighne: I to the Bar and installation a4 & Master of th ch, unveiling waa celcbrated with much pow wueks ago, though the Prince, with his character. fstic modestd, furvore from belng prescnt on the occasion. Gun. McClollan, Governor-clect of New Jersey, has sccured the Trenton rosldence of Col. Freese, on Slate atreet, r.ear the State-Mouse, for his winler residence, and will take posscssion about Christiuas, He takes the bovs farulshed, ita appolutmenta including the library and the col- lection of curlosities which Col, Fre brought from Jeruealem nod Egypt. The house ieone of the handsomest in Trenton, and le wituated on Lhe banks of the Delawars, commanding s Sue view o8 the river. Tho Curator of the Pennsylvania Academy of ¥iue Arty, In which the Fortuny of Mr. Gibson, recently lost and found ogain, was exbiblied, bas redlgued biv position. Tue pleture In question was undoubtedly copied wllle on esbibition Iu the Acadeny, and a stroug suspicion seoms tu cxist ln Poilagelobita that the substitution of he copy for the oniginal must have taken place In shat build- ing. The wystery which shrouds tie matter has not certainly becu rellaved Ly the resigoation of the ofliclal fu question, whose elaborate account of his Journeyiuge lu scarch of the lost tresaure has Leen recently gutug thiv rounds of the press. A recant number of tho Cleveland Herald prints tho following snnouncement: **The Cleve- Jana Herald with ita goud will snd franchlses Las been purchased by Richard C. Parsoos, our late member of Congress, William Perry Fugg, so wel koown s¢ & leading business man, suthor, ant nd Mr. E. V. Smallez, tho widely-knows ndent of tho New York 2ridune. We na- ud the Dew uwners will Issno the paper by & stock company, to be known as the ‘Heruld Pub- lishing Company.® It is expected that Mr. Parsoos will La tho President of the Company snd respon- sible eaitor, —alr, Swalley to Le managlog editor in control of tue paper, uud 3r. Fogg e bu Vice- President oud general wauaver. The new editors will ussute control of the puper during the early part of Decemver, of which dus sutice wiil be given our reudure. ™