Chicago Daily Tribune Newspaper, December 7, 1877, Page 4

' Club of finr... v .4 _@Ifiz Tribwnz, THERMS8 OF SUBSCRIPTION. T MAIL~1¥ ADVANCE—POSTAGE PREPAID, w necopy, per year. &pectmen copics sent rree. Give Font-Gico sddross {n full, Including State and Couaty. i Memittances may be made ‘either by dratt, exnress, Turt-Gflice order, of fn rexfetered lettera, at our risk, TERYA TO CITT SUBSCRINERS, 5, delfvered, Ennday excepted, 23 cents per wesk, delfvered, unday Inclnded, 30 centa por weck. oon THE TRIBUNE COMPAXY, Corner Madieon and Dearborn-sta., Chicage, 1l Orders for the delivery of Tnm Trinvxx st Kraaston, Englewsod, and liytle Park left in the countlog-room wiiliecelve nrom; ¥ I Ad AMUSEMENTS, MeVieker's Thentre. Madlron strect, hetween State and _Dearborn. **The Dells® and** I've Written to Drown,* Mesdames Maye, Gtoneail, ete.; Mesrs Wheelock, McVicker, ete. Hinoley’s Thentrn. Randolph street, between Clark nnd Lavatle. *Atrock O™ Meadames Moore, Bmith, ete. § Measrs, ‘Whitamyon, Sulliran, cte. Unverly's Theatre, Monroe mrees, corner of Dearborn, Contlipnt.” Coliseum Novelty Thentre, Cark street, letween Randolph and Washington. ‘Varlety performance, ‘The Tabernacle, Monroe atreet, hetwoen Marketand Franklin, Lee- M. Washhurne, Subjecs: ' Tho the Commune.” "*Across the WILET M. EGAN CHAPTP Annuxl’ Convoeaitan this (Frid Ticiades tall. 220 south Halaeltat, for the elocilun of ofticers and payinent of dues, y order of th L L L E. Fo NEWELL, 8ec. COVENANT LODGE, 2. A, F.and A, = Xlr‘:\n-r Coinmunication thi my‘ erening at 7i90 o'clock, at tortnihlan Vall, 157 Fast’ Kinzie-si, Work o thie 4 Degree. A full Atendance of the members (s friucsted, Visiting brethren are alsg cardiaily tnrite By urder of thia W. M, WML KK, Bee. . ¥, & A, M.—Regular ) erening ‘ai No. 144 comt-st, Work on M, M. Dexreo and bus- ncu o unportanee. Vil bretpren cordislly ine “¥ited. Dy onler of the Master, 1. 2, HERRICE, Secretary. RIDAY, DECEMBER 7, 1877 Compynication T c CHICAGO MARKET SUMMARYT, Tha Chicago produce murkets were moderately mefive yesterday, nnd rathier irm in the aogrepate. Mues pork closed Gieger uel hichies at 811, 00811,05 for December and 312.0 0 for Jaunary, Lard cloeed steady, nt 87.8715 per 100 B spot aud S7.BCT.H71 for Janwary. Ments were Bteady, at 413c for boxed shquiders and G for do ehort ribx. Whisky was steady, at 3105 per paiton, Flour was qulet. Wheat closcd 3¢ hizher, at 31,08% for Decemberand 81, January. Corn closed steady, at 42%c cash and 41%@4130c for January. Oats clowed §e Hizhe cash and 254554 for January, Rye \ at 50, Borley clused eteady, nt Gllc cash and G34%e for Jannary, lloza were active and closed vasy, at $1.20@4.. Cattle wern dull aud weal b rales at $1,75%5.00. Sheep rold a1 §2.0074.00 for common Lo choice. Inspected dnto store Inthis city yosterdny moroing: 107 care wheat, 105 curw corn, T0 cars vats, 7 cars rye, and 8% cara Larley. Total 1272 cam), 105,000 bu. One buudred aollare in gold wonld buy $102.50 in Ereenbacks at the close, 6t Greeubacks at the New York Btock Ex. chango yesterday ciosed at 074, . The hair-splitlers of the Benatn lave found oceupation in connection with the phrascology of one of the Prosident's eom- munications tranamitting n nomination for Postmuator of Toledo, At tho extra session the documont was worded: * Arxxaxprn Reen, vics Troyas Dowersa, suspended ;" now, howover, the thing reads: * Arkxaye e RERp, tice Avexanoen Reey, whom the Sonate refused to confirm.” It is contended that tho first form is the only correct one, and on the outcome of this momentous fasuo the conntry wails breathlessly, Tt is gratifying to note a prospect that the burdenscme abuses practiced uuder the ex- isting Putent laws are to b corrected. . 'The Bl introduced by 3fr. Towssuxsp, of Tl nofs, nud pussed in tha House, strikes at the root of tho evil by enuctiug that it shall hereutter bo unlawful for the Comwissioner of Fatents toronew or. exlend asy patont for any design whalsoover, It is not con. tomplated tlat the inventor shall bo de- prived of the fnlr and legitimato fruits of his geniuk, Lnt it is time that the ‘mechanic, tho ogricultnvist, aud tho manufaoturer shoulil be relioved ot tha extortions practicod Ly patent ntonopolies by tneans of repested runewals and extunsions. Dispatehes from Bismarck a day or two ngo bud all Deadweod beleagacred by a sud. den irruption of hoatile Indinns, and the safety of the miners dubious 1a the extreme, Incidentelly it was ntated that tho last conch Irow JMismarck had been attacked by the Kioux, and the four horses attached thoreto shot and killed. It is satisfactory, however ridiculous, this moruing, to read fu the news from Deadwood that the most momentous affalr now exciting the adventur. ers is *‘a lively contest between tho old and newly-clocted county offfcers,” and that tho New York Ierald's telegram, wherein the tarrifying phrase * banquotiug on blood * was used with tho venturesameness of con- secious power, hed for a basis only tho fact that, whilo crussing the Missourl River on ity wry to Dendwood, tho Bismarck coach and Lories Lroke througl the ice, and the four horses were drowned, At last, through the interposition of M. Duravne, s satistactory compromise be- tween. MacManoy and the Ropublicans sccius in & fair way of arrangement,’ As. wrauces wero received from the Orleanist wd Constitutional groups of the Senate that they would support a Oablnet choson from he Left Centraor Moderato Republican ranks, uud wilh this assistance Doravn undertook the task of persuading tho Marshal to aban. don his dangerous polivy of resistance, and conseut to certalu indispensable concessions, Upou learning that he could raly upon the support of a wmajority of the SBenats in such " an ovent, MioManox clhose one of the alterpatives vamed in Gaumprrra's Lille speech,—he submitted, and intrusted Du- wivus with the duty of forming s Left. Centro Cobimet. It is not known how the: new arrangement will be recofved by the majority of the Republican Doputics, but thervis reason to auticipato that the eompromise will be accapted. Yesterdsy’s vote in the Senate on Mr. Arvison's resolution, making the Brasp Silver bLill the special order fpr Tuesday next, has thorouglly ecared the monowmotal- lists, and in 8 corvesponding degres renderod tho fricuds of squard dealing buoyant and Lopeful. A substitute for this resolution, Lesiponivg the Anal vote matil the 1ith of .ready takon by TurTrmony, viz, Jannary, was voted down by the decisive majority of 41 nays to 17 yeas, and Mr. AvLisox's resolution was then adopted by a voté of 40 to 18, It is clenr that the project of silver romonetization can connt mors snpporters * in tho Secnato than hnd been supposed possible, and it looks as thongh such & bili could if necossary bo passed over the President's veto. Tho opponents of {he monsure mustared nearly their fnll strength, and, allowing that a few of them may have voted for the resolution for the sake of .having an enrly settlement of the important question, it is yot obvious that the gold monopolista aro in o decided minorit; P Thero is one branch of the cbunty service which shows a disposition to conform to the demands of the public for retrenchment, The Sherif roports a receipt of $1,200 dur- ing the past six months in oxcesa of the re. ceipta of his predecessor for the correspond. ing term of last year, and shows also that this increase of business has been nccom- plished ot an exponditura of over $10:000 less for the six months than for the corre- sponding term of last year. In addition tothis saving, Sherif Keny reports that ho bas reduced the oxpenren of the fail abont $4,000 doring tho samo time by employing to somo cxtent the fdle Inbor of that institntion in protecting, preserving and restoring public property. Tho continnation of this same policy will sava the county abont $30,000 o yearin the administration of the Bheriff's offica, and it should bo approved and en- couraged, Now that it is too late to bo of any servico in determining the merita of tho South Carolina Senatorial controversy, the report of the Sub.Committee of the Committee on Privilegens nud Elections, giving the rosult of its investigntion of tho manner in which the Democrata condncted the election cam- paiga in that State, has just been made pub- lie. Why it waa not progentsd and mindo uso of at the time the Bourien-CombiN case was undergoing discussion is past compre- henslon. Ths roport would have beon of the utmost value in showing the illegality of the body claiming to 'be a Legislature and which eclocted Boruen, and in showing conclusively to the world that Butzzr was the lending spirit in oud must be held chicfly reaponsible for the Hamburg massacre. There seems to have lieen several serows loose in this sams Com- mittee, An earlicr roport on the Louisiana caso would have saved a vast amount of tronblo nnd averted the imminent danger of Demnocratic supromacy in the Senate, while in the South Carolina cnse the neglect and procrastination of the Sub-Committee sppear to he incxeusable, Judge McArrsrer has taken upon him- salf to decido the Vegrant law (passed by the Legisiatirs last winter) to be unconati- tutionnl and inoperative. Judge McArris. 7zn's delicacy and anxlety In dealing with ‘eriminals have been manifested too frequent. Iy to udwit of any particular surpriso at thls dictum, zud this predisposition on his part considorably diminislies the force of his viows. It is the dnty of (Losd baving charga of the prosccution 'of the vagrants in this city nud the tramps throughout tho Stato to pross a case to the Supremo Court; in which the constitutionality of the law shall bo tried, nnd tho community will refnse to accept the law asa dend-lottor un. til the highest tribunal sball so prononncoe it. It its construction uud terms are in violation of the organic law of tho Btate, thon the fact must be definitely ascertained in time to on- nblo the pnaingo of mnother Vagrant act on {ho nssemnbling of the next Legislatare, We have no doubt that Judge McArvisten's dQuclxion will bring gladuess to the hearts of the Communiats and tramps, but fortunately they do not cenatituto the mnjority of the comtnnnity, which will probably decido that a Vagrant law is moro nocesvary to its safoty aud comfort than is Judgo MoArrtsren, To a request signed by every Republican member of the Now York delogation save Mr. Currrexpes, asking the Proaident not to ngain sond in the names of Moaers, Iloose- verr end Paicr as Collactor and Naval Officer in Now York, the Presldent returnod a cour. toous but peremptory rofusal, Ha is de- termined to oxercise his constitutionnl pre- rogative of making nomjuations withont rogard to Congressional dictation, and it is for tho Benate to ducide, whon the uomima- tions nre befora it, and not until then, what shall be done with them. Tho defendera of tho machine insist npon their right to n voico in the sclection a= well as tho confirmation of the appoiutecs, aud that question was vigorously debated. fu tho SBeuate yestordny, without, however, belug in any way settleil, It i now certala that nothing but oppositi can bo expocted from 3r. CoNgrrxu’s Com: mittco, which has been reorganized with eapecial reforenco to this plan, the Commit- teo being now composod of five Republican Tmplacables and four Democrats,—one of the latter, Mr, Dzyxis, of Maryland, being in complote nccord with Alr, Coxxring on the Now York nominations,~—so that the Committee ywill stand six to threo sgainst confirmation, It is not likely that any re. port will ever bu subimutted, and the test of the Sonate will be on the motion to dlscharge the Committee, A > ‘Wo print this moming mmunication from Ald, Gicnear, in which he secks to justity the mtroduction of hia resolutions calling for a rovision of the city ordinances, to make them carry out more explicitly the provisions of the Goneral Charter undor which tho city is now goyerned. We fail to discovér in Mr, GrLozat's statement of tho caso any satisfuctory veply.to the position al- .: ‘That the nunicipal affuirs are now doing well enough, and tuat it will bp dangerous, ns well as incon. venicnt ond embarrassing, to make any sweeping changos in the present ordinances. The only point on which Ald, Gueesr insists s, that the Dopartment of Public Works shall be placed under the charge of o Buperintendent, in order that the Mayor moy be retieved of th:a detail aud personal respon- aibility now placed upon him in counnection with this branch of the public service. We know of no ubjoction to this proceeding, Lut contend that, in onler to accomplish it, it is ouly ‘nocessary to pass a brief, specific ordinance directing the op- pointment of such an ofticial in the same manner that the Police Superintendeant, the Fire Superintandent, asd Health Super- intendent are nominated and confirmed. It is not necessary to order a geueral rovision of the ordinances, as contewmplated n Ald, Grrszar's resclutions, in order to sttain this single purpose, and & general rovision would necessarily croate confusion, and poaisibly opey the \door to assuiuptions of power by the Countil which, thoagh possible under the ', are not mandatory nor desirabls, Tuz Tuw in its previons comments upon the schen, did uot impugn Mr. Guorur's fidence business relations? It is & problem that, THE CHICAGO TRIBUNE: FRIDAY, DEC motives, nor {ntimate that he has any thought or desire to prepara the way for the forma. tion of a corrupt Couneil Ring; we merely ex. pressod tho beliof that the utilization by the Couneil of all the powers it may assnme under a liboral construotion of a gnmn-clas. tio charter would have this result, and it is unadvisable to incur the risk for the simple purpose of making a change in the Depart. ment of Public Works which may ba worked out in a more simple way. ——— There were polled in this Btate at the Presidentinl election of 1876 something over 550,000 voles, On the question of romonet- izing the silvor dollar, the publio sentiment of tho voters of Dlinois is perfectly over- whelming. If Congress should submit to a popular vote the decision of tho question of tho restoration of the silver dollar as & fall legal-tonder for all debts, ducs, and demands, including daties on imports, and the interest and principal of all bonds calling for ** coin” payment, the result would be something like this: » T el ST Agalnst ¥a & fuil Tegai-tendi Majority **For®, 1t is barely possi our people wounld voto to sustaln the limita- tion insisted upon by Jorn Surnsax through 1axes’ message, Fow persons will ‘ concede that as many ns 50,000 men can be found in Tlinois to uphold the Smenuax-Ilaves de- mand of gold for the bondholders and only silver for the people; but we wish to be lib- eral, and not leave any room for eaviling. ‘Wo prosume that Iilinois is a faic sample of the popular sontiment of all the Wostern States. The vote of the entire West, including Missouri, is not far from three millions, It would take a dosperate canvass to induce half a million of the throo millions to vote to sus- tain tho position taken by tho President and Hocretary of the Trensury on the silver ques. tion, and the whola Sonth is fully as “solid " agninst themon this question a8 the Great West. THE FINANCIAL DEPRESSION, ‘Tho closing of the German National Bank, ffter a despernto fight to maintain its posi- tion among the finaneial institutions of the city, is to bo regarded mther as a natnral in. cidont of a long ern of financial dopression than a8 o dissster or cause for alarm. The bauk suspensions of the last few wecks are not of the same character ns those of tho corresponding period four yours ago; they aro not the warnings of a now panse, but the resulis of the old panie. The general shrink- ngo of values has compressed all the confl. dence ont of the commnuuity, and suspicion onco contered upon a financlal institntion in these timoa, recovery scoms to bo impossi- ble. Tho condition of tho German National Diank, as shown by tho statement of its affairs at the closo, would have warrnated n continuation of business, and commanded publio confidence, in a scason of ordinary business prosperity. Thera aro «nssots of nearly $1,000,000 to moet liabilities of less than £180,000 in deposits, 890,000 in bills payable, and £63,000 of circulation, The capital of 2500,000, with a eurplas of carnings amounting to £125,000, and undi- vided profitsof 310,000"'more, are reprosented in the investments, and would ordinarily provide nbundant protection. Even the frighifal shrinkage in many of the scouri- tics (and espeotally in the real estate which this bank, along with others, has beon com- polled to tako in seitlement of lonns) fs not enongh to create an spprehension that the copital and surplus will bo wiped out, or that the depositors will lose anything, Yot the German National was forced to yield to nu implacabla dSpression, Hexny GuiEne- vy, the President aud Manager, fought his way through with tho grit and tenacity of o little bull-dog, Tho bank went through the firo with flying colors, snd camo out of the panio with credit and vigor. DBut tho lines were all tha time drawingclosor, The panic among savings-bank depositors insti- tuted a run on the German Bavings Bank, which reflected on the German Notional, Both institutions wera in the samo building, ond the public identificd them., It was enough to start o peraistent drain upon the rosources of the Gorman National. Hetween £200,000 and §300,000 of deposits were .withdrawn in tho two or throe days' flurry caused Ly the suspension of the Third Natlonal. Nearly %1,000,000 of de- posits havo been drawn out sinco July, A bank that was ablo to pay out 85 per cent of its labilitics to depositora in cash during four months ought to have won its way back into public confidence, but tlio public mind is in no framo to listen to logic; no financlul institution now brought under’ suspiclon, however unjustly, is given the beneilt of a dopbt, a hope, or oven domonstrated solv- oy, “How long, O Lord, how long?” is the ail of tho comwunity at every new evi. once thua offered that we havo not yet out- I the effects of the long era of extrava- gance, inflation, speculation, and intoxica- tion ‘preceding the panio of 1873, How many scttlements remain to be made before the commercial community and the capitalista can ventwre with con. upon tho wsual besis of can only be solved now by wuch national legixlation ns will afford reliof to institutions and men who are tottering and fointing from mero inanition. 'Thcre have been promises of improvewent for a year and more. ‘There have been evidences of a rovival of business and confidence that need only proper on. courngement to dovelep into facts and reali- ties. ‘There has bosn a substantial baals for building ‘up now prosperity in the rare abun- dance of the crops and thu excoptional foreign demand therefor. Theso Lopes have becn smothered by the monoy-sharps of the East 1u thoir blind aod obstinate determination to onforca a resumption of specle. poyments in & year from. now on an exclusive gold basis, This necessity hos Leen held over the heads of the people for two years. *You must submit to our timo and our terms,” say the Bhylocks and the sharps. The peoplo protested and elected o Congress from which obediencd to the popular will, and not subservisuce to the Bbylocks, was expected. The exira session afforded an opportunity for the meagures of relicf that are demanded, but Congress preferred a partisan squabble to the' inturcsts of the couuty. The partisan struggle over, the people bresthed sgain, and turued their oyes to the regular session for some responss Lo tho popular wall, At this junctaro the Presidont avails himself of tha privilege of bhis annual message to blast tho popular lope by casting his iofluence, and in cffect threat- ening his veto, in bobal? of the blood- [sackers, who lusist upon recoiving from 15 to 25 per cent more than thoy loancd, in addi- tiou to their interest, "This Preudential ut- teranco hay deepened the general desponden. cy of the country pending the uncertainty &9 to its influenco ou Congress. The people who woro blne befora are bluer than over, aud thoss who were hopefnl are now down- cast, The dopression must continue in th present stato of things, forcing inatitutions thataro in fhet solvent into snopeusion, and every suspension still further rotarding the recovery of cenfidenco. Thera is but one hope of presont relief, and that rests in the prompt response of Congress to the popular will by the deferment of resumption and the romonstization of silver, 1n despite thu sharps arnd Bhylocks, TAX ON TEA AND COFFEE. Tho Presidont and the Secretary of the Trensury unite in the rccommendation that Congrass in revising tho tariff shonld restoro asmall {axon ten aud coffes,—n tax which was reponled by the same rnscally Congress that voted the members the back-pay grab and abolished the colnage of the silver dollar. The condition of {he national rovenues and of the mangfacturing population ‘is euch that it will be impossibla for Congress to longer postpone or neglect tho thorough revision of the tariff, which Las now become n ac- rions obstaclo in the way of a rovival of indns- try, The policy of excessive protection having rosulted disnatrously, especially to tho indus- trics intonded to Lo benofited by it, tho goneral senso of the country will expect n roturn to'a tariff having for its purposo o suflicloncy of revenue with tho incidental protection such a tariff may afford. There isn clasaof porsons, howaver, who rojeot all facta and cling tennciohisly to the doc- trino that the proper policy of the American people is to produce only to meet domestic wants, and to have no commercinl dealings with tho outsido world. Theso demand an adherence to the doctrine of proteotion,— that doctrine which exacts the highest possi- blo taxation from tho smallest amount of consumption, and treats that man who pro. duces more than ho consumes ns a public cuemy, Tho differonce between n tariff for protection and a tariff for revenue is fro. quontly misundorstood, and every man who proposes that the tariff should have revonuo forita object is nssniled nan ** froe-trader,” nnd an attompt is mado to give to the term an infamous significance. As AMr, Werrs has recontly stated, the ndvocates of tariff reform, while they includo many frec-trad- ers, ava all nevortholess disposed to obtain substantinl advantages and benefits for the country by the modifications of the tarif withont any referenco to the question of freo trado. It is well, how- aver, to understand what a tariff for revenuo 14, as compared with o tariff for protcction, A tariff for revenne ia such an adjnstmont of the duties on imports ns will produce e greatest amount of rovenuo needed with tho least poasible taxation to consumors,—prefer- once being givon in the wn} of taxatlon to thoso articles which nre of common fise and not produced in the country, or, it produced liero, aro not produced iu such quantity ns to meet the deinnd. 'Thus a tax on tea and coffee ia a tariff for revenuo purely; a tax on sugnr is partly for ravenue and partly pro. tective; A tax on raw wool in protective to the wool-grower, produces littlo revenuo, and i3 oppressive to the American manufacturor .of woolen goods; the tax on other mannfac- turey is, up to n cortain rate, n tax for reve- nue, nnd above that rate'the tax becomes n bounty, and mny bo made prohibitory. Where tho tax is.so highly protective o8 practically to prohibit importation, and the samo class of goods .la largoly. mado in this country, copsumors aro compelled to pay sn additional prico for the domestin gooda cqual to tho tax, this addi- tional price boing in tho nature of a bounty to the home manufacturer, Any tax on manufactured imports is moro or less pro- toctive. Assuming that the samo goods cost tho same ‘for production at homgqsand abroad, a duty of 20 per cent on the imported orticle, including freight, exchauge, ete.,, affords o margin of over 20 per cent in which the home manufacturer may sell his goods at prices below those of the importer; where the duty is higher, ranging as in our tariff to 40, GO, 00, and oven to 110 por cent, tho pro- tection comon spolistion and robbery of tho consuming public, an enconragementto smug- gling, a defeat of revenue, and eventually destroys the protected intorest. The offor of nlarge bounty by a protective tariff has tho offact of withdrawing capital from other productiona and {ta investment iu the pro- teoted Industry. As protected manufac. tures cannot be oxported and the home consamption is limited, a result is that thero are soon .two or threa times too many goods of that kind produced ; then follows stagnation in sale, running tho factories on short time, roduction of expenses, strikes, sale of the goods for wimt tlhey will bring, suspension, bankruptoy, and collapso, That has been the genernl outcome of the pro. tectivo pqlicy in this couairy during seven- teon years of high tariff, Tea nnd coffeo, not being produced in this country, are espocially fit subjects for taxa. tion for rovenuo only, If the tax bo 8 cents per pound on ocoffee, the tax is only 3 conts on cach pound fmported; whiloa taxof 1 cent per pound on iron is a tax not only of that much on cach pound jmported, but like tax on each pound of jron produced in this country, If tho proportion of jron im- portod be asone pound to each ninoteen pounds produced at home, the cousumers pay the taxon sll, and of this tax only 1 cent out of each 20 s paid into the Treasury, aud tho other 10 cents go to the manufno- turers as a Lounty, In tho case of tea and coffeo, all the tax pald by consuwens is paid into tho Treasury, "The tax on tca and coffeo was repealed in 1873 bocause it was a roveuua (€ ; it was ro. poaled a3 an excuso for retaining a protective tax on several hundred other artioles taxed for the exclusivo benefit of n fow persons, The repesl of the tax amouated ton direct loas of rovenuo to the Treasury, while, had the tax been repealod on protected articlos, there would huve boen 1o loss of revenuo, but a large reduction of taxation. Tho re- peal of the dutics on tes and coffee took offect Jaly 1,1872, The quantitiesof thess articles fwported since then, and the revenuo loat, computing the tax on te at ten cents and on coffee at three conts per pound, maybe stated s follows: antidics F g & -« - =1 Prepesami 3 - = 3 iy 29 331,630,788 Total FOVORO®.ceccarsornssrneseres 883,002, 650 Thegepeal of this tax was instantly followed by the imposition of axport taxes and an ad- vance of prices in tes and coffee at the for- eign places of growth, ko the Awerican people have not liad any relief; in fact, they have beon paying the tax to the foreign countries instead of futo their own Treasury, Now, had the tax on cotton goods, woalen goods, and MBER 7, 1877, averngo daty of 22 por cont, thero wonld havé baen no loss of rovenue whatever, pos- sibly an inoreaso; but the indirect tax paid by the couniry under tho form of protection during the five yeara would have been re- duced not less than $200,000,000. Iy tho repeal of tho tax on tea and coffeo wo lost £83,002,000 revenue and roduced taxation that much in the five years, IIad wo, in- atend of repenling that thx, refood the pro- tective tax on thoe articles named 4o a reve- nne standard, wo would have reduced taxation 200,000,000 and retained tho $83,000,000 revenuo from tea and colfce. That exhibits the differance between a tax loviod for rove- nue purposes nnd a tax levied for protection, The man who paya a tax on tea and coffeo pays it into the Treasury; the man who pays 8 protective tax paya 00 per cent of tliat tax a8 o subsidy or bounty to private corpora- tions or {ndividuals, and the Treasury gets only 10 conts of the dollar., When n rove- nuo tax is lovied, the Government gets 100 conts out of every dollar paid; when a pro- tectivo tax ia levied, tho Government re. ceivos 10 to 20 cents on tho dollar of the tax paid, and the rest goos as subsidy t6 ontside partios, As Scerotary Smauax states, the imposis "tion of this tax on ton and coffeo will onable tho Treasury, withont loss of revenue, to re- ponl tho taxes on a long list of nrticles which, though burdensome and oppressive upon tho country, yield but littlo rovenuo to the Government. The rostoratibn of the small tax on téa and coffea will enable the Governmont to repeal other taxes amohnting possibly to 860,000,000 a 'year paid by tho country, but of which tax the Goverhment only rocoives n comparatively small sum, Congress can mnke no intolligent revision or modifieation of the tarif which does not re- duce taxation by the ropeal of eIl the pro- toctive taxes lavied on tho long list of petty articles for tho spocial benofit of individuals, and rostoring the tax on ten and coffce, all of which {s purclyrovenue. The intelligenco of tho country will no longer submit to be robbod by the fraudulent cry of n * free brenkfast,” That fraud is now too well un- deratood to deceive any intelligent man, THE FUTURE 0P ZEAL ESTATE IN CHI- CAGO, In tha yoar 1876 nbout eleven miles of stono and brick froniage was added to onr city, aud during the presont yoar noarly as much more lias beon bmilt, although a larger proportion of the building tho last yoar has been business property. In the faco of theso fasts, anothor remaing, that thero is not tho same porcentago of unoccupted houses or blocke that thore was before those woro built, proving conclusively tho largo incresse of our popnlation in these hiard times, . Tuvestigation shows that the inocumbrances on our city property have been Inrgely do- crensed. and that tho rate of intrest hos been considerably reduced, leaving us with less burdens to boar, as the times have made it loss ensy tocnrry thom, showing onrcondi. tion of henlth in tho midst of & long-contin. ued financial disense, Money was nevor so cheap as at prosent, nnd capitalists do not know where to put it for safoty. During the War, labor wna so Ligh, ns mted in deprociated paper-monoy, that it interfered with profitablo cultivation of tho soil, aud business enterprises and money commanded such ratos of interost that many land and renl estato owners sold out their property nud invested the procoeds in stocks nnd loans. Deprocintion in vglues of thosfacksandunpaid dividondshave causod snlos at logsos, aud there is a very gonoral dosire to chango this capital into somothing thatis at lenst safo, if not vory remuuers. tive, and it scoms that the next direction in which capital shall seck investmont will bo in renl estate, not only for safety, but knowing s well that we have periodienl roturna of times when it solls for even mora than it is worth, thus making tho eafo invostment n profitable one. . Thero is probably $5,000,000 now locked up In defunoct Ohicago savings banks, most of which would ba iuvested in homes or lots it it could Lo got out of them. This is tho slmost unanimous declaration of tho unfor- tunate dopositors, This wonld buy 5,000 lota ot $1,000 each, or n largor numbgr of cheaper ones on the outskirts, or o smaller number of comfortable homes already built, Capitalists know that Exlulumu property bas never sold in Chicago in proportion to pricgs paid.in some other leading cities. Twonty-two yenrs ngo, whon Doston had about 125,000 fubabitants, land* sold in favorite localitios at 8100 por square foot, and muco that date for inuch higher pricos in Now York. With one excoption, we have never known land eold in Chicago nt one. thinl of this price in cash, and, with the prospect Chicago has for development and growth, we claim that our business proparty Lins nevey sold for what it s really worth, . With rpgard to obstacles to purchases, in the way bf future taxation, our municlpal Jdobt {4 lesa than oue-hul? of that pf Boston in proportion to its taxable value, with all its bonsted wealth ; 'aud while overy man, womag, and child of Now York City's pro. portlon of its municipal indebtedness is aver 100 oach, ours of Obicago is loss than 833, Ghicago has forty-three railroads now cen. tering within it, or having it for their ob. Jectiva point, aud with water communioation with the Gulf, ocenn, and Misalssippi Valley, and rostiug at the foot of a ohain of lnkes that oxtand to mines that are undovoloped, nud to forests In which the lumbermen’s ax hins never been heard, full of varied resources which when developed will contribute im- weasurably to our business and profits. These lakes extend GO0 nules nbovo us, dund over which no railway can pass, caunsing all railway traffo betweon the East and West to centro in Chlcago, while she has a grasp on the productions of China and Japan of which none of her Eastern or Western sisters can dispossess her. Bhould every streot of Chicago be cleaned of bulldings by fire or tornado, these rondwoys to her would alono causo it to Le again rebuilt, Chicago stands ss a great wholesals mer. chant, with one hand grasping the resources of the Weat, with mean3s aud facilitios to control them, aad to send Ewt or across the sea whert the profits in handling will pay her to do o, aud in the other holding a key to warehouse-doors large enough to hold the product of the manufactories of tho Bast, snd which will pay a tribute in profits in leaving them to supply the uecessities of the great Northwest. In the face of the fact that Chicago has grown so rspidly and so large from its posi. tion and profit in receiving, forwarding, and distributing the products of her tributary ter- ritory, and the handiwork of arlisaus from without her Hwits, who can estimate Ler growih when there shall be established with- in her limits manufactones for the varied de. wands of the West? * g When these shall have been established Lere in the same proportion as in the cities of the East, there is no estimating the im. iron and steel besn redused in 1879 to an | migration hither of skilled workmen, and the homos and accommodations thoy will de- mand. Feonomical considerations domend that goods shall be mannfacturod ns nenr con- sumption or use as possible, nnd more espocinlly when the mw matotinl for their manufacture is so near at hand. Who can point us to n manufacturer of agricultural implementa in Chioago who has boen nble to meet his orders for the two past years, and who has not boon growing rich meanwhilo? How much longer must our hides go Eastward and retnrn to us in boots and shoes, with the transportation and profita cause? How much longer will Wost. enhancod price that orn wool go to Eastern water-falls for manu. facturo into cloth, and the cloth mndo by Eastern women fnto clothing, when expori. ments at Fall River have demonstrated that oloth ean be produced more cheaply by steam® than by water-power, and when wo have the wool, tho coal to produce the stoam, and willing handa in Chiesgo to convert the cloth into clothing? ‘Who that has lived in Chiongo long enough to hiave soon it arise, and in its growth over- come nll thoe obstacles that sutfonnd it, can doubt' that this kame enorgy will carry it forward oven more succossfally in the futuro? And who that has seep tha immense and fertils torritory that is dopondont npon it for o market nud for supplies can donbt its destiny ? At the rato Chleago has grown during the bard times of tho pnst four yoars, Hfteen Yanra will double our prosent population of 460,000, and demanding 70,000 additional ‘Those homes must be bnilt on lots homes, now unimproved, and ovor the prospective valeo of which many nre growing des- pondent, ? There are about 21,000 ncres within the city limits of Chicago, improved and unim- proved. Allowing for tho spnco taken for alleys, streets, parks, and bonlovards, there will avorage abont eix and a half lots per nero, giving 107,000 lots witlin the ontire clity limits, Allowing n family of five per- sons to each lot, wonld give ahout G85,000 1habitants when the entiro city is covered with bulldings, This may look somewlat inconsistont to thoso who now bollove wo alrondy have a population appronching half o milion, but investigation shiows that the business por- tion, with its lotols and upper-stories of blocks, is mora domsely popnlated than strictly residenco proporty, in many rections of which there ara houses standing upon Iarge lots, but theso boing now mors genor- ally ocenpied han whon good times como, permitting mon to keep lLouse who cannot now afford " it, wo may fairly concludo thnat our ndditional population wnust bo accom. modated on lots now wmmmproved. Conse- quently it is only fair to conclude that when our city numbers throp-quarters of a million of inhabitants, overy availablo building lot within 1ts limits will bo absolutely demanded for residence nud business purposcs, nnd fu this caloulation allowing & . still larger por cont of increase In population in the strictly business portion of the city. If ovory lot in the city limits wore built upon and oceupied by a family of soven persons, our population would only number a mill. ion, nnd statistics show that this fs much more than city familics averaga. If this picture of Chicago's future is not overdrawn,lot onr despondent ownors of real estate have renewed faith in tho valuo of the property they have held so long, aud for which thoy arcesure to renlizo remuuerative pricea in tho futuro, Political troubles, an unsettled curroncy, broaking banks, and want of confidence fnall onterprises, havo seomed to conspire to drag down everythlng, DBut while thero is no limit to depreciation in bonds nnd stocks of donbifal value and profits, thore s u limit to depreciation in valuo of real ostato in a city with such pros- pects as Chicago has, and wo feel sura that the bed-rock lins been roached, nnd that another spring will s0o us at lonst making a commencement upon tho roadway toward botter times and butter prices. S l———— 1t {s gravely stated in the dispatches from Washington that the renegade Parrzmson proposes to start upon a lecture tour, for _tho purposo of oxhibiting himself and mak- ing $2,000, which s considerably less than Jhe sold himself for, It may bo that thisis only o joke, or is intended to bo satirieal, If, howover, it 19 o woll-founded statement, he miglit deliver a very Iulurenflng leoture upon Reform, ns illustrated by his own carser, He might show,'in the first place, the modus operandi of a Sonatorial cloction by bribery, and then rapldly sketoh his own indictment for this offenso, und the natare of the ovi. denco that was collectod against him. He miglt then display some . dissolving views of the South Carolina Ponitontinry, tho man- uer of dress worn by conviets, the coll ho expooted to occupy, nud the oscupation ho would follow in doing the Btate compul nory sorvice. Ho could then disclose the uature of the covenant botwonn - himselt and the Democracy, by which it wasagroed hoshould not goto the Penitentiary it hhe would scll out his party and vote for a wman who nover was electod to the Bonate. Provided Mr. Parrznsoy hos suficient obeck to deliver such a Jecture, i would prove an cxtremely interesting one, and we know of no other way in which he could earn $2,000 at the lecture-lesk. IHo might ohtitle Lis leofury * WhatI Kuow Abont Ponitentiarics," At tho sama time Mr. Parrensox could hard. 1y expect to get throngh such a lecture with. out being interrupted by some very.ugly questions and froquent allusions to tho dis- cipline and habits that usaally charscterize well-conducted Penltentiarics, 1f Mr. Pat- TERsoN wants to find out what decent people think of him in the North, bohad better take lis carpet-bag, setart on a lecture tour, and deliver his first lecture in Chicago. T the Bditor of The Tridune, MecuavicuviLis, Ia., Dec, 4.—Is 1t 8 fact that the United Stales SBuprenia Court has decided shat 1he fseusnce of preenbacks wus unconstitutionalt If s0, what was tho basls of the declslvnr And woula it zot be impossible for c:mflrcu to swell the clrcalation 88 dvmanded by Urevubackers, Commuuisty, ete.? I L. Row, ‘The Supreme Court las not so decided, for if 1t had, the grooubacks would have ceased to be alegal-tender. ‘Tbe Bupremo Court, however, las in effect decided thas the 400-mnfllton Nmit of war notes camnot be constitutinvally ex- ceoded In thme of peacs anl when thersis uo great overmastering necessity roquiriog the fs- sue of forced currency, It Congress weroto undertake to emit irredeemable notes in excess of the 400-milllvn lmit, thore {s no doubt that the Supreins Conrt woutd prouvunce such ex- cess 0ot legal-tender puver. . . It is getting to be su established soclal axiom that womou and opera-singers can nover agree. It that lovely creature 10 whom the pocts of alf nges bave sscribed graces too numerous to mea- tion {n & single senteucs could unly be persuad- cd to llve ot peacs with hier own sex, into what & Utopla wou'd this world of ours bo truns- formed! The recent blood-thirsty and deploru- bly encounters between tho Misscs KELL0GG and Cany, while lu this city, were not calculated to stimulate that budding hope for the scx which the recorder of events might bave previously pomsessed. The world seems to o on very mych ashefore, notwithstanding the astral rollision aforementioned, and there areho slgoa of iy pravement in female manners, It wan apje Weinesday that a laris concourse of lndies mey in this ity toarrange for an‘uuthors’ carnival, Tho Intter, It may bo explained, isa kind of mas. fquerade ball where the wnests appear In certain gorgeous aud uuaccountable costutnes, ontensl. bly to represent well-known charncters n fletlon, Lut really to swell around In fiog plumage and carry on violent filrtatlons with gn. dividuals of the opposite sex. There were to be TLady Dedlocks In tho dress of Persfan Prin. cesses, Olliers {n swallow-tails and high collars, and even JIdll Sikes might have appeared fn evening dress tnd a feeblo mustachie. But the fatea would hot have 1t g0, We have been sifircd the afocting spectacle promised by the lndies of the Authors' CarnlvalClub, There was a meeting, Indeed, at the Tremont Houge, n which no lcss than n lLandred participated, But the meeting had searcely hecome organtzed beforo the ladies came to a mutual and satisfac. tory disagreement, and again vindicated the reputation of the sex for Independence of spieit, 3 —— ————— o Mra. Gen. Bnenstax is carneat in her crusade ogainat round dances. ' 8o hus whitten another letter, eaying: 1t s not to bo expected that young gitls, who are anconaclous of evli in the becinning, shivuld reflect lonk enough to summon thomoral conrage to reaiat the sllurcments of the danco, municws wita en. couragement aud suppor! of thelr parents, To The honor uf pure inaidenbood o It ssids howerer, that thera aro young girla who decline fron: ins stinctive dolicncy, even when thelr purents wonld have thom }flln the throng who dance duwn the Uroad road of worldly pleasre, The number of young xirls who decline to dance nowadags from Instinctive delfcacy, or from any other fostinct, fs sufficlently smail 1o Justlfy tho usc of the adjcctive influitestinal, Mra, Suxryan will have to try again, Marshal MacManox is tampering with s dangerous weapon when ho disrezards a depu. tation from the Parls iourgeofsie. Tiiey called upon him Mouday and wers haughtlly referred to the Minister of Commerce, Well might the deputation retort that ‘‘they wero the vane quand of an Inposing demonstration, which numbered a thousand to-day and would nume ber one hundred thousand to-morrow ond s million the next day.” —— It tho President vetoes the Bilver bill, it will tako two-thirds of both Houses of Conaress to overcomne the voto and pass the blll i spite of his opposition. But If his veto could Ve sub- mitten to & popular vote of. the people of his own State, or of Jllincls, or of the whole West, a ninc-tenths majority to ‘overcome it could easity bo obtained, B ———— ‘Thero was a rumor in Rome Sunday night thay the Popo was dead, Cousequently an immense crowd gathered at St, Poter's the next morning only to learn that o silver ball had been in- serted Into his leg and that he was better, Buch is life, S E—— It Beeretary SumRMAN, when Senator, had protested as vizorously agalnst any tampering with tho Cofnage law s ho is now protesting ngainst any change of the Resumption law, tha currency questioc would not be fn its present muddie. ——— ‘The New York Evening Post criticlacs the use by President IIares of the word “such® as an adverb, and “numerous” for many. But it acknowledges that these ara popular errors, belng found even in the London Times. e Boston Las started & Latin school for girls, ‘This 18 bocauso Sir CuaRLES Youxa hasdeclared that the publieschool system of Cleveland fs better than that of Boston. But Mrs, Swiss- uziy koows a thing or two, e e— ‘The ilungariau patriot, Kossurn, has written an articlo for the Contemporary Jfevicw, in which he urges Austria to malntaln the Independencg of Turkey ns s barrier against the cxtension of Russla. ——— An unfortunato rumor has spread over the country that Mr, W.F. Bronzr ls dead. We Losten to assure our readers that this s o falsc, malicious slander. He is not dead, but sleep- eth, ———— Tt s to be hoped that Scnutor PatrrRsoN will not carry out his dinbolical threat of making s lecture tour through the West, i— . 8o PATTERSON Is not a fugitive from Justice after sll. ic is merely startivg ou a lecture tour. 2 B —— PERSONAL. Albort Biorstadt is now at work on a view on Kern River, Colorado, - The late Gen. Forrest, at his own request, ‘was buried in his Confederato uniform. The Harpers paid Mr. Longfellow at tho rate of $10 a lno for his poem of ** Keromas, " Frank' Loslis has written a book callod **A Plensute Trip from New York to Ban Fran. claco.” . Bonator Bargent, of California, was ecuri. ously opposed to an luvestigation of the iluron disaster. Bret Harto has dissolved his conuection with the Washington Capital, and returned to Now Jersey, Judgs Larremore, of New York, has do- clded wedding-prescnts are given to tho bride, and Bot totho bride and bridegroom jolntly, Thoe Preeldent’s message coutains 18,000 words, It was (clegraphed from Washington tu *Philadolphia aud other pointa in forty-fiveminutes, Ay, Moody will begin a series of incesings in the Doston Tabernaclo nbout tho st of March, ledined Inthat cliy Haturday with Mr. Alpheus Hardy, A nmnber of editors concur in saying that Springfeld ls better known as the seat of the pube leution of the Kepublican then fn any other con» nection, The Gloucester mackerel fisheries bave been disasivous fullurcs this year, and there is & wruat deal of distress In consequeyce, Many men Lave not clearod §30 trom- thelr summer and fall wolk, and others, who entered the busiuess with wome capital, bave returnod lwpoverlshed. This ‘Wilt b news to the Halltax Comn . Tha Bostun Z'ranacript says; * No amount of reasoning can convince somw men that Clarles Francls Adadis dian't write ‘Leedle Yawcob Btrauss,’and ke Quincy statcsman s raking in some very bandsonis cowmphiments on the vereatlls 18y which enables him to drop from profoung dis- quleitions on great natiunal guustions into Datch dialect poetry at short notice, ‘The latest expres- o of admiration ls from Bayurd Tavlor, who In arecout lecture sald: *lshall bersafter refer to the Charles ¥, Adams period of Toutonic ltera- re , when wo shall try und rvealizo the subllg thoughtfulness commingled with louder grace and volatile humor of oue whoss escutcheon 4 vuie Diazoned on the proudostroll of Mswachnseits atatcsmanship,' This manst be ruther dlscoursg- ing 1o Mr. Cunrles Fullen Adams, but he will bave tosand 1" 'Tho article’ on Rtichard H. Dana in the, New York Tribuae was written unquastionably by Nr. Guorge Ripley, njs brothor-in-law. . Mr, Rio- ley wasa Unitacian clergyman Ia Boston at the tluie ho becanie conuected ' with the fsmily. Dr. Cusunlug, uf the same denvmination, was & cousln of the Danas. But the latier sre Iliga-Church Eplscopaltans. Oge of R. I, Dana's daoghters is 8 wember of the Bomau Catholic Church. sud R. 11, Daua, Jr., 12 8 lcaalog member of tho covgre- gutlon st the Church @f the Advent. which has 3 boy-cholz. In to ald o Ns services, . ‘The elaer Dass fa feeble, a8 mighbt bo expu of sman overi0 Yyea:s of age. Nothing now seemsto bave come from hie poa for half & centary, und be Lus not led a life that promises Lo bo rich in mewolrs. Long- fellow and Whittier are writing as wuch after tha age of 70 as 8t any perivd of their lives, apparently. Dana, Ualleck, aud Spragus did nottlug after they bad achleved their reputaiions, Thelr works ar scarcely ncceasible. 3 think Sprague’s posios aere found {0 be out of priut wiien bo died Iwo years 830. 1 dou's remember even to have veen & copy of Halleck's poems. An edition of Mr. Dapa's writiugs was lssuod by s New York bouse twenty-fre of thirty years sgo, but 0o copies of It caz wew b fouud in the booksteres.