Chicago Daily Tribune Newspaper, January 7, 1878, Page 4

4 THE CIIICAGO TRIBUNE MONDAY, JANUARY 7, 1878 hns not yot finished tho work of purifying the Indian Burean, though he has mnde good progress in that direction, as appears from the ontline given in our dispatches of the report fnst finished upon that subject; and be hasgindertaken various other reforms which will ‘require his timo and evergy to enrrv forward auccessfully, o At least hias no thought of leaving his post at this time, apd it is quito cortaln the President is of the same mind, — Some facts worth knowing in connection with -tho reccnt tronbles on the Mexiean border aro presented in a lelter which we print this morning from n correspondent who mada a raid on his own account with o viow lo gotting at tho trne inwardnossof the border question, ‘Tho writer seoms to have beeu cspecially fortunato in gaining access to sources of aceurate information relative to the incursions from both sides of the Rtio Grando that have formed the staple of agi. tation for sevoral years pnst, and it is very ovident that ns n rule the ncconnts that have reached tho public havo been colored in the interest of that cloment of the population which has evorything to gain and vothing to lose by ombroilng the United Statesina war with Mexico, ————— It was to be expected 'that Prof, Bwina will be greater than that of the frauds them- selves, The people will ouly have learned that it is & comparatively eaay thing to stenl public money, and almost an impossible thing for the publio lo got the money back or punish the thieves. If, under theso cie. cumstances, there nhould be n large addi- tion to the ranka of the defaulters nnd om- bezzlers, it will only be a legitimate resnlt of the negligonce of the officers of tho law. favor an increase in the valie of money in order {o enrich themselves by tho increnso of what they will get from their dobtors, do they forget that (hey, too, will have to poy what they owe in money basing the ramo cxeess in valne? Buppose depositors in banks, witnessing the general decline of every kind of proper- ty, ond witnessing tho destrnction of all kinds of business, and the constant failures aud fucrensing weakness of the banks, shall conclude to save themselves by putting their money in national bonds, and in that form themeelves renlizo tho profits from an in- cronse in the valuo of gold money, bow many banks will stand the demand, and how many stockholders will got ono dollar out of the deprecintod nsseta of such institutions? " Are the banks prepared for the goneral crash which they are not only inviting Lut fore. ing? Are thoy prepared to defy the publie opinfon’ by the very sufferance of which they alone can kecep their doors open? Tho remonotization of silver has for its first object to arrost the decline in values of property, and at tho samo thne .arrest tho advance in the valuo of money which is growing,the noarer we approach to an ox- clusive gold standnrd. Tho rostoration of tho silver dollar will nt once fix a minimum Lelow which the valuo of property cannot Qe Tribave, TERMS OF SUNSCRIPTION. o a year. nei unday Eaito Double Ehees. atinday Eaitio TI-Weekly, one yeal Partsof a Year, per manil WREKLY EDI e copy, peryen Chn oF Yok, Speclmen copies sent tres. Give Post-Uftice adress 1 fail locluding Slateand County. Tiemittances maybo made elther by draft, expeen, Post-Ofiice arder, or In registered letters, At our risk, TERMS TO CITY SUDSCRIDERS, i Daily, dellvered, Eunday excepted, 25 cents per week. Tatly, delfvered, bunday Includer s Addrers THE TRINU. Corner Madison and Dearbor THE BANKS AND THE SILVER QUESTION. The oficers of the national and other banks at Now Orleans nro the first to surrender to tho duress and intimidation of the Now York QGold Ring.® During the last Presidential election, Mr, TiroeN had aliterary bureau in New York, at which were prepared resolu. tions which were furnished to all the connty conventions in the country, and cditorials were writton and rent to all the Democratic papers for publication. We may oxpact now that the bankers in other parts of the country wiil hold their mootings and ropro. duos the Now Orleans resolutionsmodified to suit tho locality,. Tho work of bulldozing has begun, The New York Gold Ring have declared war upon tho credit of every bank nnd of every merchant that doos not make public opposition to the remonetization of silver. The country is threntened with n Orders for the dellvery of Tix TEIRUNEAL Evanston, Englewood, and Hyde Park leftin the counting:-toom ‘Wiiirocelve prompt attenton. TRIBUNE BRANCU OFFICES. Ty CricAao TRIRUXR has estadiished branch oficey for the recelptof subscriptions and advertisements as Tollows: NEW YORR—Tioom 28 Tribune Duitding, F.T. Mo+ Fannzs, Manager. 18 Ttue de I Grange-Datellere, mericsn Exchange, 449 Strand. Agent. tlotel. = ‘ withdrawal of credit by the New York fivan- | declino. From that time thero will bo n ro- . AMUSEMENTS. would not remain silout pending the discus- | ojal rogency, and all bauks desiring or | covery, Troperty will rise in value, and e sion of the subject, of endless punishment, needing credit and all merchants need- i Hooley’s Thentre, and the public desire to know his views is ) - | may be sold. TProperty may bo given as col . ing credit in New York naro re. dolph 84 vetween Ciark “and _LaSalte, g Interal, which will rise and not shrink in Elz ::E:E;Ll:o'i;flz‘- mel::m:u Opers Bouffe Company. | gratified this morning in the sormon which quired to moko profession in some | valug z’luring tho loan. Man now struggling appears ju our columns, With his known disrelish for the cust-fron and Calvinistic in thinga theological, it wna almost n matter of coursg that this unheretical horetic should tnke n position n.reast with that rocontly assumed by Canon Fammar nnd the Rev, Hrxny Warp Beecues, aud the sermon preached yesterday will be no disappoint. ment in this regard. Prof. Swixe contends that in theology as in the other affairs of lifa the menningof words hns undergonea marked chango within the past fow hundred years, ond that it {s altogetber possible to believe in the Biblo and not Deliove in the creads and dogmas that have atood still while the world kopt moving, public manuer of their opposition to the remonctization of silver. It is notoriouns that the large mnjority of the offlcors, and especially of the stockholders, of banks in the West cordially ngree with the people 1n their support of silver, but the decrees, the bold and determined threats of the New York gold managers, overshadow all things. Since the bulldozing of Louisiana, no more daring attempt to cocrco freedom of thought and of oction hns beon mado in this country. The Kn.Klux of Louislann burned dwellings, scourged women and children, and shot or hung men; that was violence against the persons of an unarmed and helpless raco. The Now York gold men assail the credit of banks and of merchants; they refuse all paper which bears the name of n eilver advocate, nnd closo accounts with banks whosa ofticers do not publicly protest against silver. How far theso intimidations may prove efficctual may bo judged by tho success of tho anti-silver meotings and reso. lutions ordered from Now York, and the first of which hau been lLiold at Now Orloans, Lot us neo how far theso banks are linblo to be affacted by this policy. Thero aro 2,100 National: Baoks and many hundred of other banls in the conntry. They do busi. ness of lending their own and their deposit- ors' money. 'Lhero is not a bank in the whola number which hns not Joaned money to customers who are in trouble, who are erippled, who aro unablo to pay, who are paying futerest and struggling nlong in hopo of a rocovery of business, Lut who are get- ting worse overy dny. Tho loans wero made whan the collaterals wers ample, but day by day those collaterals are perishing; tho shrinkage is continnous, and the collnterals nre no lougeroqual to tha loan, Every week thera lsn sweep of bank debtors into the bnukrupt courts, and every weok the number of bankrupts s larger. Tho shrinkago of valuog is enting up tlo substance of thoso who Liave borrowed the monoy of the banks, Collaterals now lhardly retaln their value long enough to aecure a nivety daya’ loan. Merchiants who hava aold goods cannot col- loct{ their customers nre unnblo to mell; money §s increasing in valuo, and goods aro dopreolating. Tho value of gooda purclinsed oven ot four wonths declincs befora the goods nro balf sold, nnd paymont Is impossi- blo, All these lossos avontually act back on the banks, . It is urged that the banks of the United States havo thoir means invested in national bondy, munioipal securities, and in the notes of borrowors; and that if the money of the country bo reducod to gold coin, and gold coln thereby become searco and of incroased value, then tho banks will roap an immenso harvest, all tlicir Investients boing payable ingold. Weadmit that to reduce metallic money exclusively to gold will' add 25 por cont to tho nomninal value of ull dobts due to the banks; &ut, and the but is a sorious one, tho process of reducing sll monoy to gold, while incrensing tho value of money, is re. ducing in oyen n greater proportion the valuo of the property out of which theso debis are to be pald, ‘Tho meaus of tho pnyers aro shrinking, and tho divi. dends of tho baukrupt courts do not equal & per cont of the indebtedness, ‘Cho two pro- vesaes work in harmony, Money, under tho oxpectation that it will be all gold and of a largely incroasad value, is sppreciating,’aud the valuo of indobteduess i declining even more rapidly, Collatorals pledged to secure paper uo longor socuro the debt, and are no longer availablo, becanse no longer couverti- ble. Whilo the banks may nssumo that every day monoy {8 incruasing in value and thelr loaus becoming more valuuble, the men who aro to pay theso loans ure bocom. ing less ablo to pay, The & por cont divi- dends of the Laukrupt coutts nre a poor re- turn for the policy of crushing the life out of tho commuuities who owe the banks, atd who are doing what little business is now done, Of wiat valua will tho $1,200,000,000 of disconnted paper be when the mon who owe (the dubts are umable to poy it, nnd, by voluntary or involuntary bankruptoy, sho dividends will not yleld & percent? Will the riso fn the valuo of gold, whon gold is the oxclusive currency, com- pensato the loas on all this paper,‘and when the bankruptey of the commercial body is goneral? © Of what profit fs it to tho banks .to destroy tho pedplo who do business with them? Tue sbrivkago in the salable value of property is not conflued to any particular class, It includes all form of property. No wmen better than bankers kuow tuat there is no form of collateral which is not subject to decline, and to s continuous decline, They know that the recont opon weather Ling pre- vented the sale of willions of dollars’ worth of goods seut out to the country from Chi- cago, Some of these goods bave been sent back, but the rest remains unsold and un. salable, and canuot and will not be paid for, though the paper given for it .in Ootober and Scptember hos been dis. vounted, and somebody will have to pay it or go into baukruptey.. How can the baunks profit by gencrul baukruptey 7 How can tho bauks expect to protit by forcing the reduc. tion of every doescription of property frowa which alono debts can boe paid ? ‘I'ho banks should further remember that they are not creditors alonc. ‘fliey ure ulso debtora, aud this fuct s shown dircetly by tlLo daily failuros and suspensions of bunks in every section of tho country. Ilow wmany of theso bauks to-day can pay what they owe to their depositors? HMow muck will their cupital stockbo worth when there is o demand onthem to puy what thoy owe? If they to keep out of bankruptoy will be able to pay their debts; production will increase, and Inbor be employed; and we insist that it is the duty ns well as the interest of every baukor to give all bis influence o ald in this recovery of tho value of property, ond not in the further doprecintion of the substance whicli i3 in the hands of the people, McVicker’s Theatre. Madiron street, between State and Dearborn. #Trye Woman " and '* Nanthe Good-for-Nothing.” Hrverly’s Thratre, Monroe street, corner of Dearborn. Engagement of {he Bufialo Bl Combiastion, **May Cody; or, Lost snd Wan." New Chicago Theatres Clark street, opposita the Sherman ilouse. Callen- * der's Georgla Minatrels. THE WAR SITUATION. 1t is evidont from tho nctivity of the Rus- sinng that thoy are determined to make n vigorous winter campaign, and to press the advantages they gnined at Plovna as speedily ns possible, so as to provent Turkish rocu. peration. The capture of Sofla, in South. weatern Bulgaria, by Gen. Goungo, s tho first importout step they bave taken since’ the downfall of Plovna., Sofia is a city of 0,000 inhabitants, and the centre of nlargo inland trade, It lieson tho northern slope of the Balkans, It is on the dircct route from Constantinople, Adrianuple, and Thil- ippopolis to Belgrado and the northwost of Enrope, and is connected with the Ronmelinn cilios named nbove by the most westorn of all tho paases, tho Yofin-Bazardjik, sometimés callod Trojnn's Gate, Bazardjik Leing located but nbout twenty-five mniles wost of Philip. popolis, The pass is & brond highway over the mountains, and entirely practical. The ‘Turks maanwhilo have fallen back to Ichti- man, midway betwoen Sofia and Bazardjik. It is quostionnble, however, whathor thoy will mako n serlous stand’ thora it they are hotly pursued by Gtourxo, aa thoy would Lo threatened on tho flank by the Russian force nt Hchipka, The ocoupation of Sofin ia sig- nificant in more ways than the inonace 1t offora to Adrianople. It ostablishos complote communicatlons with tho Sorvinns, and opons up now routes for supplics, and it leaves tho wholo of Dualgaris, wost of the Quadrilatornl, in Russitn possossion by isolating the "Purkish forces at Widdin, Nisch, and other fortrossos, and cutting them off fromall commnunlcation with the muin armies and thelr supplies. ‘The samo activi- ty provails in the Dobrudscha. ‘Troops ary conatautly ponring across the Danube at Galatz, showing beyond all guoestion that an attack will be wmndo from tho northcast in co-operation with the Czarowitch's forces on tho southwest ngainst the Quadrilateral, In Asin Minor the occupation of Tldjn by the Rusajans cuts off tho Inst communication of Erzeroum, and that fortress must soon fall, loaving the Rusmans in complote poasession of Armonia, ‘I'ho co.operation of Horvia hins boon a vory important factor in the recont movements of the Russlans, It ndded to thelr army 50,000 fresh mon just at'k timo whon 50,000 Turks wero rendered Jwrs de combat ot Plovaa, TFor $730,000 » month Tussia obtains this force without the trouble of nrming, clothlng, or feeding it, and in nd- dition socures n new bnse of lor own snp- plies. Hervia bina hnd nearly two yeara' timo in which to recuporate from her defeat and to accumulate stores aud provisions. In all respects tho Berviau contingont is equiva- lont to two Russiau corps, and is handled at far loss exponsc, "T'ho situation may be summed up ns fol. lows: ‘The Russions hold all of Bulgarin with the excoption of the aroa inclosed by thio Quadrilateral, tho fortresses commnnding which are 1n process of investmont, while the Lurkish fortresses on the Servian fron. tior nre invosted by the Serviana and com. plotely cut off from help, ‘They hold iu ad- dition the control of the two most practical prasen into Roumelia, the Schipka and the Sofin-Bazardjlk. The Busulan imsurrection has broken out afresh, "Cho Montenogrins aro prossing forward on tho south, 'The Crotan difieultics have commenced, threat- enin revolution, 'Tho Groeks are rising, and nny day mny mako a bold strike to recover their old froutiers, In Asin Minor tho T'arks aro % articulo wmortis, ‘Tke' future of the war now turna upon the action 8f England, Bo far as operations Linve progrossed, sho lins no pretoxt for war, 1If thaline of conquest wero bounded by the Ualkaus, a peace could be made without conflicting for the present, at lonst, with any English intoreat, It may be possible, but it Is not proba- Lle, that Ltussin will stop her victorious warch ot tho. Balkans, It {4 then ouly a question of titse Low soon she will interforo with the Euglish intorssts, Bhe might advanco as far oven as Philippopdlis without prejudicing those interosts; but ovary step beyond that point would threaten Adrianople, sud drive'the Turks down iuto that narrow neck of laud of which Constan. tinople Is the apex, and beyoud which there could be no hope for thom, o8 the Russinus hotd Asia Minor, 'The fluglhh intercsta are sumnied up in the routo to Indls, tho posses- slon of the Rlack Hew, and its ontlet to the Mediterranean. 'I'he moment Coustautinople iu threatened theso inturasts are throatencd, and Bugland must interfero or igaominiously back dowu, The dauger to Eaglaud, how. ovor, Is just oy werious in caso of a ueyotis. tion for peaco o3 it would bu if the war wore prolonged. Bhe bas morally ontored tho contest alrendy by offeyiug herself, indopend- ent of all the other Europ:an Powers, as a medlator between Rusia and Turkoy, Nus- sla bLns declinod her services politely Lut firmly, end bas siguificantly inti- mated that if Turkey wants to make o peaco sho can send ber terwy to the Rus- sian headquartors, and that in the mcantime sho {s armed aguiust intervention, If Tur. key rsks for terms, Russia will dewand ex- acting oncs. Bhe did not go into this war for nothing. It is not mcrely for amuse- wmout that sbo bus su Colisoum Novolly Theatre. t Clark strcet, between Washington and Rendolph. Variety performsnee. N Farwell 1all, Madfson strect, betwcen Clark and Destborn Lecture by Prof. V., G. sumoerat 8 p. m. Bubject: L ** The 8fiver Question." Congressman Moxey, of Mississippi, is not an implacable enciy of subsidics in any and all forins, s appenrs from an intorview with | o Tripuse correspondent which wo print clsewhero in this issue, but he is none the loss a stubborn and dnngerous foe to that sugar-conted grab embodied in the proposi- tion to build the 'Toxas Pacific Railroad for the Lonefit of Tox Hcorr and the Credit- Mobitier construction rings at the expenso of tho Government. Mr. MoNcy i3 earnoatly and consistontly in favor of o Sonthern line to tho Pacilic copst, in proof of which ho in- troduced the billanthorizingthe construction by tho Soulhern Pacific Company of the rond which has already progressed ns far castward as tho Colorado Rtiver, and which only asks the privilege of continuing tho litio until it connccts with the ronds already bullt in ‘Texas. 'Chis s tho bill which Mer, Monex thinks will pass, and tho only bill, and he is eminontly sound in his judgmeont thal thoso Sonthern, Congressmion stand in their own iight who insist uponvoting Tox Scorr his subsidy of 60,000,000 for doing what the Southern Pacific stauds ready to do without o doliur of Goverument mouney, & MONDAY, JANUARY 7, 1878 o f A QUESTION OF FAIR PLAY, # Complaints are frequently and numeronsly reccive @ ot this offico from parties llving along the lines }o{ rallway lesding out of Chicayo to the eficct that they are often unable to procuro Tns TRisvxe Hrom tho train-boys on whom they depend for i their daily papers, but are oflered the allernetlve ‘ot taking eliher the 7imes or Inter-Ocean or none }atall. From tho extent to whick: this practice Is ! carried on 1L 1s belleved that it fe tho result of u !mnulnr ayatem of furcing the ralo of competing 1 papers and discouraging the demaud for Tug Tniue “uxse, Tothe end that vigorous ncasures may bo promptly taken for the suppression of this con- spiracy, If any shall bo shiown ta oxlst, we request that ali peraons who {rom thin or simliar causes nro presented from receiving tholr Tnisuses regularly will in each inslancs communicate the facta und dealls to this office by letter or ntherwing. CHICAGO MARKLT SUMMARY. Tho Chicaxo produce marketa were rather more sctive Saturday, and averaged easlor. Meen pork closed 12t5c per brl lower, at $11.30211, 4215 for February and 311.4253@11.45 for March. Lard cloavd u shadu casier, ot $7,4245 for Fonrnary and $7.50 for March. Meats wore stoady, at 4o for bozed shoulders and €5.%5 per .O*L\c for do shoet ribs, Whisky wus steady, at?81,05 per .gullon. Flour wasdull, Wheut closad e lowor, 8t £1.08% cash or Janusry und $1,03% for Feb- ruary, Corn closed Yic lower, ot 4 and ‘41%c for February, Osty 244,@245%c for Junvary and fur Vebruary, Ryo wa il Dur'ey cleseid steady, at 57%ie spot and H8c for February, Tious were active and steady, at §4.00@4,30, Cattlo were infalr demand, at $:3.00%75.00; und sheep nominal, at 87,004,560, Tne packing of hogs 1 tufscity since Nov. 1 fe 1,174,854 head. Ite celved in Culcago last week, U2,074 brls flour, 622,003 bu wheat, 00,250 bu corn, 81,070 it vats, B.800 bu rye, 63,647 bu barloy, 163,040 live Lous, and 10,408 cattle. Inspected into atore In thin city Saturday morning: D4 carw wheat, U5 cars corn, 8 cars cats, 4 cararye, 11 cars barley, Total, A6 cars, or 50,000 bu. One hundred collars In gold would buy $10:.75 in gruenbacks at tha close, It is natural, aud in ono senso commond- able, for 3Mr, Epwarp M, Expicors to seek to vindicate tho reputation of his brother, the nbsconding Tresident of the Contral National Bank, Tho only way this cau ever. bo dono is for tho nbsconding bauk ofticer to voturn and personally submit to an fuvesti- gntion, which, wo regrot to say, he {s not at oll likely to do. Mennwhilo his brother, who denjes somo of the charges, makes n futal admisslon in doing ko, Io says that Exor- corr purchased for the bank shares of tho stook, nud merely held them in his nane as trustee. ‘tho Natlonal Banking nct, under which Enpicort's bank was operatéd, ro- quives thnt oll stock shail bo fully paid up within fivo wmonths after orgauization, nnd- that nuy impairment,of the capital shall be made good or the bank forced into tho hands of n Recolver.. It also prohibits (Rev. Statutey,. Sec. 5,201) every bauk from making o loon on its own stock as collateral, and from purchasing or holding auy of its sharcs, 4 oxeept to provont losa on a debt previously contracted in good fulth,” Mr., Expicorr’s purchiaso of the stock in tho manner slleged by lis brother, was n flagraut violation of tha law, and, wo think, a mdbapplestion of tho funds of the bank. Dut the law further provides (Itav, Statntos, Bec. 5,204) that every Prosidont and othor uflicer of o National Bank who * willfully misapplies nny of tho moneys, funds, or credit of the naso. cintlou " shall, upon conviction, be hinprisan. ed not leas than five nor mom than ton years, If wohave not wisapprohiouded tho extent of ENptcorr’s offunse, ns Lis own Urother states it, Exptcorr ought to be in- dioted by tho United States Graud Jury, and lis oxtradition for trial secured if posaible, Asido from thls; it {s not'denicd, wo belleve, that Expicorr sold out bis intorest in the grocery businoss after the bank.failure for something lika 870,000, disconnted the notes ho recelved, and wont off with the money, whereby he ovades his liability on the stock o actually owned' and defrauds tho doposit- ors of the bank, Can thle, also, Lo ox. plalned? d te lower, ut MR — In Now York on Saturdsy greenbacks sanged at 974@973. Mr, Kimnavy, the champlon debt.raiser, gave an oxhibition of his prowess on the oc. casion of tho dedication yeatorday of the ; Jefferson Park Prosbyterian Church, A debt 1of 25,000. was succeasfully lifted In two :installments, $17,000 at the morning service, iand $8,000 in the evening. R — Saxuer Bowwes, the veterau editor of the \Bpringfield Republican, of whown enrnest thopes of recovery wero ontertained oll oyer ,the country, again suffered an ncute attack ‘of his malady Satarday night, aud now Hes +in o highly alarmiug condition of prostra. i tion, Vioron Evataxves, King of Italy, has been .suddenly attacked with a serious nnd alarm- Ing illness, which it Is fearod will prove to bo the malarial fover of tho fatal type so cominon to the vicinity of Rome. Iiis.age, o littlo less than 58, oud his vigorous consti. tution are in his favor, Lut he Las o terrible ¥oo to coutend with. ‘The unoasinous fu Franco at the prospect that England would seize upon Egypt was 80 great as to leadto a diplomatio corre- spondenco on the subject. ‘A noteof in. quiry was rocently addressed by thoe French Guvernment, and in response the British Minister of Torcigu Affairs gave the most posilive assurance that Esgland hind no fn. tention of helping hersel? to the laud of the Puanaous, N ‘The Committeo of New York Aldenuen ap- poluted to investignte the Ring frauds have uscertained that out of the 0,000,000 sup- posed to bo stolen only $876,000 have been recovered. All tho thieves, with asingle exception, have eseaped adequate punish. ment, aud somo of them are snid to be + flaunting their stolen wealth in the faces of honest citizens to the dunoralization of the community and the disgust of all honest citlzens.” ‘Uhe Ring men claim that they linvo been gronted jmumunity even from clvil suits by the Attorney-Geueral and hia repre. sentatives, but this Is expressly denied by tho latter. Of the monuy recovered, all but £151,000, received from E. A, Woobwazp, las been eollected from tho estates of dead men, and nonc of it was taken on exccutions but in pursuance of compromises. And yot the law cxpenses have aggregated more than 23 per cont of tho nmount recovered, The encrgy with which tho suits were prosecuted ot firet Lus now almost entirely expended itself, During the last two or three years littlo secms to have Leen accowplisbed in the progress of theso casea with a view olther to the recovery of the woney or the punishment of tho thloves, The Committeo suggest that the evideuco taken by it be laid ‘before the Attorney-(icueral, and that he bo oarnestly requested to punish those of the Ring thioves who Luvo hitherto escaped, particularly Incrusorn, Ganvey, Krrses, Hary, Davivsoy, sud Sary, It is, indeed, high time that sowe steps pf tho kind were taken; for, if tho, prosceution is permitted to rest wherd it is now, tho iujury to public 1oraly caused by the cxposure of the frauds 2 ‘The blaody path over the ‘Bulkan rocks called the Schipkn ass, from which, 8 fow months ngo, rcsounded the gronns of the dyiug until tho whalo world eried out against the useless slaughter, hias ot lnst been left free to tho Hussiany who have ko stubbornly veen. plod it. The evacuation of that portion held by the Turks was compelled by the stale of the weather, which, at that high sltitude, is understood to bo fur too rigorous for the ex- istenco of the hot.blooded 'L'ark, It seems hardly necessary to relterato the denial that Secrotary Benuuz has auy ides of swrrendering the Interior portfolio, or that the Prosident lLas any idea of dispousing with the services of so valusble a Cabiuet officer. Yet cortaiu Congressmen, rofurning to Washington from their holiday rustica- tion, Lave brought back a Lundle of rumors to this effect,~rumors which they would like to have veritled by ovents, but which are oy far from being true o8 when they wore last current. Ton'UninuNg representativo scmue weeks ago Alr. Scuvnz mado an explicit state~ meut which ought to have beon nceopted oy fiual &0 far as ho could make it so—which was, that he bad not ot auy time contem- plated a withdrawal frow the Cabinct to take the Berliu or any other wission; least of oll tho Berlin wfasion, which was out of the queation in view of bis former attitude toward the present Ewperer. ‘e Beerctary a | actual silvor dollar hud at {he time it wos her soldiers and incnrred a most fearfal ex- ponse. At this moment of her success, with Turkey prostrato at her feot, she will be likely not only to demand n compensation for lior losses, but auch guarautees ns will blot Turkey ont aa a war Power, It is a final struggle of lifo aud doath between Ruisia and Tarkey, which will close in writing the Muscovito epitaph, There never wns such an opportunity o ang the power of the Turk in Europe as now, when Russia has Gormany for on ally, and Germany has Aus. trin and Italy, Terms of this sort, howevar, cannot be made withont compromising En- gland. Again, it 18 not impossible that the Tarks themselves, smarting noder thae fail- ure of England to help thom, may dreg her into war by making concassions that will di- reetly conflict with hor interests. The situ- tion, from every point of view, indicates that England must cithor actively enier into the struggle or consent to have no voice in tho rolution. The problem must be solved before the early spring or it will bo too late. danger, at thin rate, is not that it will bo worth too little, but too much, The ngreed rating of values botweon silver nnd gold in nbout all the civilized world excopt tho United States is 15} onro:nof silver to 1 onneo of gold. At thin rate, France keeps Letween 200 and 300 millions of silver in netive circulation along with 500 millions or o of gold. Tho Btntes composing tho Tatin Union—F'rance, Italy, Belgium, Switzerland, and Groaeo, with a population of 80,000,000— find no difficulty in keeping sitver nt par on this basis of 174 Lo 1; no ono objects to re- ceiving it. Gormany, with 40,000,000 moro people, has between 200 and 300 millions of sitver thalera \yhich circulato nt par in the eame relative weight with perhaps 400 mill. jons of gold marks, Whnat nccommodates nnd entistiea 120,000.000 peoplo ougbt to nerve for the 45,000,000 of tho United States. Take nn ounce of gold coin in Germauy, France, §witzerland, Belgium, or any coun- try on the main continent of Europe, to n broker's to exchange for silver, and he will give precisely 13) ounces of silver coin for reform,—that is the cutting off of the lntera] anckers which ara now laxing tho peoplo of the whole country for the beneflt of n few small locnl interests. Whon these are dis. posed of, and an efficient Canal Bnperintend. ont is appointed, we may hope to see in Now York the plienomenon of a great State work sctunlly solf-sustalning and nt the sama time a nntional benefit, If this is not doue, the peoplo of the West will have thoir remedy whero thoy havo ro long threatened to meck it, in avoiding the greedy corporations of Now York nltogothier and making shipments through Canada to the ocean, ittt A few daye azo the T3m . on the anthor. ity of an Intellizent Chicago wentieman who apex a vond deal of time in_Franco last anmmor, 1k there win compaeatively Httlo full legal-tonder il ver to he met with in cirenlation In that country, The genticman nanted {9 o competent obsurver, He cortalnly knows what hls own experlonce was, and, ax hie did not graduate from the scnool-section normal achout of Jonrnslism, he has not conteacts il the habit of saylus things that nro not true, fle says that i excluinzing United Btatea money for Fronch motiey st the banks. hu wae Invarishly served with gold and notes of the fank of Francy in about equal parte, and with iittie or no sliver, il wlso sayn that in his dealings with the peoply et A TIOME DISCUSSION OF SILVER. it. and mo more; take 15} onnces | M oEe e e e ot e T o At tho Soaturday meeting of the Third | of silvor coln to cxchange for gold Ir?’mmlhclcl‘rculmllu‘nwll!lfmzlll’xlngl,hn‘ I=ot‘:ml Ward Republican Club the silver question® goln, and ho will give precisely one | piceswers leua-ondor squally with Gold cotne. was taken up for disenssion, and Mr, D. K. "I'evyEY volunteered to nct as tho apologist of that class of money-lenders and bond- Loldera who want to force their debtors to pay them more than is due. That Mr, TEXNEY appenred ns the advoente for these mpecial and closs interests was evident from bis freo uso of epithets, and from bis trite repetition of their worn-out stalements aud arguments. Wo tnke his remarks as the basls for another general answer to all the people at home who, from inclination or interest, fecl con. strained to espouso the eanse of the poor and long-suffering class who have been living on the'interest of their bonds or mortgages, and uow,.ns a small compensation for the hard. ships they have endured, domand that they shall be pald off ina single coln that has nequired an abnormally excessive purchasing power. A 1. Mr, Tesxer began by dénouncing the propasition to restore the silver dollar in the usual torms as a fraud, aud the firat reason hie yave was the nssertion that **thero were nover any silver. dollars in this country to amount to anything,” and that * gold wny practically tho standard always,” The reply {5 (1) that thove wore abont sevouty millions of silver dollnrs and half-dollars coined in this country betwecn 1806 and the demone. tization of 187:3-'4 ; tho dollars were always full logal-tonder, and the lalf-dollars tho same (il the debasoment and limitation of 18534, (2) Tho country was always woll- filled with Spauish aud Moxlcan dollars, and silver coins woro brought hore in lurge quan- titics from nll European countrics which fur- nished emigration to tho United States, but especinlly from Gormany ; these silver coins played an jmportant part in general com- merco, for, whilo gold was used nore than silver for domestio circulation, tho silver was the main fnotor in foreign exchange. (3) The ronson why tho eilver dollar did not oir- culato moro freely waa bacause of its oxcos- sive valne on nccount of overwolght. ‘The Europoan standard was 1564 to 1; the Amerd. can standard 16 to 1; tho differonco made tho standard Ameriean silvor coln worth about 3 per cont more than thostandard gold coln, and the rosult was it was moro profita- ble to cmploy it for' foreign exchange than for homo use. (4) It was tho presence of sil- vor in onr coinnge syatem that provided the necessary check upon gold, and pre- vonted gold from becoming uhnatural ly scarca and dear. Thoro was al- ways tho privilege of coining and circulating silver at the agreed rato, and honce it was imposaible to get up such a corner on gold s thore is nt tho present time. Thero was never an effort to doso. It was this aotual preuonca of silver inour coin system that kept gold at ita propor lovel. In addition to this essontial influence, it is ostimated that hetwoen 100 and 150 millions of silver, of American and foroign coinags, were notively omployed in Amorican commorce just prior to the genoral susponsion of speclo payments, 1t Is folly, thoreforo, to maintaln that silver was nover an linportaut factor in the Ameri- can monotary system, 2, Mr. Tex~ey, following the lead of his clionts, also maintained that *‘the real point of the ngitation for tho Silver bill was the swindiing of the croditor,—uot only of the Londholder, but of every other oroditor.” This charge has become 8o common smong tho * golditos” that Mr, Tenxey evideutly forgot that it is n vVery serious one, and ought not tobo passed around without regard to tho fnfamy it jmplies. The clarge s a Chicago Times. When the Wells-street Shylock organ hag nothlug better than the ubove to offer ln sup. port of its untenable positions, 1t must be in desperate straits. Asto its ¢ Intellizent gent " who went to Parls last summur, he is cvidently a conspleuous specimen of tho class who travel without thejr eyes, In the faco of the fact that thero are ot least 200 millions of gilver five-frane piecos in circulatlon in France, in addition to the 155 milllons held in the vaults of the Bauk of France, it may be ditlienlt for Aim to explain why he dld not see any five-franc pleces in cle. culation, It Is undoubtedly truo that an Amor. fcan visltor to Parls who presents a lotter of credit or American gold or British ** circular notes ** to Monnoe, or whoover lis * letter I8 to, will pay him in French gold or large notes of the Bank of France. But what has that to do with the amount of legal tender silver In circulation In Francel ‘The Times' '* competent olserver " falled most wretchedly to have his eyes shout him. ile saw no small notes in circulation, that s certain, ‘There had been $03,000,000 of them fssued; but the Bank hns redecmed them with sitver five. franc pleces. Sliver money abounds in France; fn the provinces silver is the principal money handled by the peoplo, and milllons of it clreu. Intes In Parls, What the Zimes traveler suw or falled to sce van't chango the lacts, and Lo cite such authorlty Is vers ridiculous. In referring to a grevious false statement of the Times con- cerning the amount of sllver money in France ouncoof gold for it. The effect of making gllver coln legal-tender in this country would Le precisely the éame, unless the remonetiz- ation skould #o ruch enbance the value of silver bullion as to render lhn,ullv'er dollar worth more than the gold dollar at the rate of 16401, when it might be necessary to adopt the genezal European standard of 13} to1, If, as Mr, Texxey inslsts, we should stort out coining silver dollnrs at the present value of silver builion, we would add abont 10 por cent {o tho silver dollar, or make it at the rate of about 17} ounces of silver to 1 of gold, The silver dollar would immediatoly jump one-lialf contor ona cent above the gold dollar; it would then ba necessary to read- just the basis, and all the. silver would have to Le recoined. In n fow weeks more the sliver dollar at 17 would be too dear, then at 163 too dear, and so on, necossitating con- slant recoinnge, and involving tho Govern- ment in the cxponse nud loss of several millione yearly to keep pace with the vavin. tions of o false basis, If any changa shonld bemade in tho weight of the silver dollar when it fa restored, the experience of the. world tenches that it should rather bo de- crensed to 15} than incrensed beyond 16, Dut all theso qmbbles and bubbles, punc. tured and .exploded over and over ngain, aro exasporatingly insignificant in the face of the appalling fact that the whole country is now proatrate, and to be kept so, if possible, to enable o class interest to maintaln its cor- ner on gold, and thns exact a payment of moro than {8 duo in cvery debt.contract, large or small, public or private, ? 1st, Tug TinuNe tued to the latest ofilcial statement of the Bank of France, which ‘happencd to be at hand, and found that the Bank held in its vaults on the 1st of last August 1o less than $154,024,000 of full legal tender sliver money. How much silver was at the snmo time in tho hands of the French peo- ple can only bo guessed at. We kuow that the Bank of France had 60,003,000 of enall notes outstanding for some time after the Frunce- Qerman war, but she has called them all {n, and pald out legal-tender silver flve-franc ploces to the holders, The best estimates we can find put the silver in circulation fn France, exclusive of that hietd hy tho Bank, at 1,000,000,000 francs, or about $200,000,030. This estimato does nut - include the hidden silver hoards of tho peasants, which aro kuown to bo very lorge. Tho full lezal-tender sllver money In Franco {n the Na- tlounl Bank and {n active circulation among the peoplo can hardly bo estimated at Iess than 850 milttons of dollars, and all of this silver is maintained ot par of gold on the basts of 153 ot silver to 1 of pold, which {3 8 per cont less than tho proportion of siiver to gold fu the American dollar, This is a fact that cannot be REVENUES OF THE NEW YORK CANALG.: Gov. Romivsoy, of Now York, in his last annual mossage, gives an interesting state. ment of the present financial condition of tho canals of thnt State. 'Tho sonson of 1877 was extremoly proaperous for bontmen and forwardors. In consequonce of the abuadant crops and the good markots, the volume of Lusiness was larger than forrmany yours befors. Dut the tolls Lhad beon re- duced go that tho gross income from this sourca was oply $880,000, showing o falling off of $160,000 as compnred with the provi- ous yenr. 'This isn lower amount of recoipts for tolls than hai boen known within the last forty-five years. Tho oxcoss of receipts over oxponditures during tho year wns only a trifle over &3,000,—a sum far from being sufficiont to meot tho requiremonts of the sluking fund. A tax ‘of o6no-fourth of a mill will be needed to make good tho de- ficlency, It there were no sinking fund, tho present rato of receipts would bo satis- factory; ond the Governor says that the sinking fund is an inheritanco of tho ex- travaganea aud corrupt sdministrations of his predecessors. ‘The customers of tho cnnal aro consequontly called upon to pay for old expenditurea which are not ropre- sented In any of the permauent improve. monts of the caual. In this connection tho Governor says: ** All experionce hns shown that (he navigation of the canals is not improved, but is actuslly dam- aged by large revenues, lending to wastoful, onreless, and corrupt expenditures. This is illustrated by tho exponses of tho past scason, ‘The expenditures have beon much lower than for many years previous, but in no one have the canals beon in such complete ordor, and so froe from breaks and Interrup- tions to navigation,” The Governor nlso shows, by roforence to the Auditor's tabloy, that only the Erlo Canal of all tho canals jn who are so feroclously denouncing silver money. ounces of sliver to 1 of rold. Nolody, not even the Times' “intelligent gentleman” who was in Parls, cver heard of an organized clique of gold sharks declaiming agalost **01-cent sllver dollars,” or calling honest peoplo *““swindlers nud toguea' who offered to pay thelr debts in sliver flve-frunc pleces, —— A crowd of ofliceholders who would much sooncr be accountublo to Senators llke Coxke 1150 thau to thelr rightful superlors are evi dently Intending to ¢ast in tirir jot with the maching in the bellef that the Senate wilil keep them from belng reoioved. Now here are a couple of facts for these gentlemen to look at. ‘The Senate Is hardly Republivan now; {n four- teen months hence it will have a strong Demo- cratic majority. 1f they drive Mr, IIayEs to the wall, as ho has no earthly Idea of ruoning for a sccond tern, ho may make aclean aweep of ull theso iachinists, replacing them br reputable Republicans not workers, Tho Dem- ocratic Scnators will bo only too lad to pufl their own adherence to Civil-Servica reform ot the oxpense of the machine, and then whero wilt the Postmasters ber Would 1t be shull not carry wut the work of Civil-Service Huudreds of millions of silver money circulate % i France at par with gold on tho basis of 16} = T e In which it paraded the same adonymous tour * rubbed out or got around by the gold sharps ~ thee wiso or protitable to say to Mr. 1laxes, “You - false one, nnd Mr. Tenwev, In ropeat. | tho Btate pald oxponses during the year, | reform but by Democratio hielp! e e— ing i, gwe It circulation either | The lateral canals woro dead-weights upon e = Vs lgnornm.iy or moliglously, 'Phera s | tho main linc, aud absorbed o largo part of m'a‘.’.‘,'?flfi"i"}flf.fi;“.’:‘lfl: old v!‘cbn‘:nnv France: its earnings, i Theso fignres tell plainly how powerful compotition the canals have had to contend with. Tho low tolls, which hiave eaused tho decrenso i recaipts, aro the consequence of competition, With four stecl tracks travors. ing tho Stato and offering uuoqualed fagili- ‘ties for the trausportation of all kinds of produco, it was morely a ques- tlon of timo low loog thd Erio Canal could do business at its ol rvates, It finally wuccumbed to tho prossure and brought down its tariff, and this, too, In o yenr when {he amount of work to bo done way very largo. It will not do for tho Canal Boord to maintain that tho reduction in canal-tolls was mercly from motives of pub- Ho policy, It wasa no more a philanthropio mensuro than the compotition of tho rnil- ronds was, Nelthor of the partios to the warfaro can bo said to have'enteryd upon it for any loftier consideration than a desire to got Liold of shure of the business. Compe- tition aud low rates were simple coaditions of thelr continued existonca, This §s exactly the position of affairs that the farmers and merchants of the West hope to sos mnafne tained, They have sulfercd enough from the rapacity of Eastern transportation com. panics, It 1s timo that a part of the oxces. sive rates pald by them skould come back in rebates. Pho question that now concorns the Stats of Now York is, What shall Lo done with the caunls? Gov, RopinsoN has the ssuse 1o sce that o perminnont iucranso of tolls is not pos. sible, or desirable 3f it wore possible, 'Lho same couses that produced low tolls will con. tinue to keep them low, ‘The rallronds must bave business, and will bid for it oven agal tho water-ways. The ouly course thut romains is for the Stato to adopt a mau. agement of tho conals so prudent aud eco- nomical that it can Lo mado to pay current expenses and ity annual ducs to the sinking fund. This can bo dono, Gov. Hopixsox thinks, by placing tho whole caual sfstem under thoe churge of one Buperintondent,and muking bim responsiblo for its success or failure. This plan Las been tried with the happlest vosults in the caso of somo of tho State Prisons, and it {s belioved it would ut onco raise the canals to asound finpucial Lasis, Thero is, however, one wore stup needed to cowplots the cauul. and the French and Awerican standards of finend wro exactly the wame, Tho orgen's mivstutopent 1n thiy matter 1a of more conscquence A an dlluse teutfon of & propenuily to siate what s not trus thun fn any othor respeet, —Chicugo Times, ‘I'his is & falr average specimen of tho denso, oae flanl answor to overy intimation that tho creditor will ba swindled by tha remono. tization of silver, viz: "Thoamount of silver reqnired to moke a dollar has to-day a larger purchaxing power, reckoned eveu at tho bullion valuo of 92 ceuts in gold, than the un’ financlal subjucts. A 20-franc gold plecs s cquivalent to $3.87, aud contalns about ) grains of pure gold. An American double caglo contains 404 410 gralns purc zold, or wore than fles thmes as much as the 20-franc pleve. worth thrue cents more than the gold dollar, 'That is to say, & greater amount of any given commodity (cousidering gold na monoy) can bo purchased to.-day by the tender of 412§ grains of silver thon could have been ob. taiued by a tender of tho silver dollar of the same weight of 1873, notwithstanding the uilver doilar of the latter date was more val- unblo than the currant gold dollar, Ilenco, any man whose claim §s paid off in silver, uven nt the prosent bullion value, will receive not oaly more value than ho gave, but also more value thau be would have received It he bad buen paid in gold or silver dollars at a time when ho had the right to oxact uothing but the depreciatod greenbacks which ho lounad. Thus, oven it the sllver dollar should acquire no new valuo by remonetization, tho craditor would not by swindled ; buc it isap- parent from tho relations of silver to other wmoney in otler natious of the world that tho silver dollar, restored to ils fuuction as legal-teuder, will instantly sssumo a value corresponding to the value of other legal- tonder money. ‘Tho litnited lognl-tender property of tho subsidiary silver colus, even though debased fu intriusio value, causes thew to pass dollar for dollar with groon- Lacks ot thew present valuo; then why willa dilver dollar, jutrinsically worth more thau tho subsidiary coin, be less valuable under tho same conditions thau tho greenbzcks now are? ‘Fhns the creditors not only will not Yo swindled, but will actually reccive more than they were lod to expoct, whatover the effect of remonetization may ba ag to the relative values of gold and silver. 8, Tho most trivial utterance made by Mr, Texxey (who has ovidently boen reading tho Journal) wos that hie would favor tho remon- ctization of silver if *‘cnough of it wero put into the dollar to make it equal in value totho gold dollar.” It would have been wore creditablo to Mr. Tessex's good sense if hobad omitted tbis declaration. When the silver dollar shall be remonctized, it will be at the old rute of 16 vunces of silver t0 1 ounce of gold. The thut the double esglo (§20 plece) only weighs 13 graivs more than the 20-franc gold plcco of Frunce, when in fact it weighs $74.5gratna moret What right has o uewspaper to discuss mouc: tary questlons which talks such nonsensel - e——— Just a week ago we hazarded the conjecture that, even as ‘Littlo Binueg Cuanoueu's aol mosity to ANDY JoinsoN had its origin in the fact that Little Bioes tried to securs tho Con- cord Post-Office, but was disappointed, so (8 would prove that his hatred of Mr, Harzs was finpired by his Tallure to obtalu some oflices ‘Tl Jurtford Jouraal now tells us that Little BiLuee «xpected to suceeed his namesake 84 Secretary of the Iuterlor, tald promfsed all bis of paper trying to sechiow hisslunature, ' Vit 1aM K, CuAnpLER, Secretary,”? woud look, It was hard on bave given up so, e vught to have taken 8 Consulsbip, or a mfasion of the sccond class, of somethiog. ————— + wEur Penkixs' was lecturlng In o New Jerécy town when the polico made an arrest outside, * Crowds,” rays tho Now York Zius Srushed from the Opera-Houss * to asa the prisoner. Wo didu't think thay “Ev® wouhd consvete withi a good lively doc-fight, but we had ou iden that of o cold, wet, winter's night ho could nold bis audience agalust the fasclus tions of a poticeman walkiug off a prisoucs. i A rallway mall clerk told o Tutsuxs reportef the other duy thut 1t wus *u stugular fect thab the deloy of a dally paver would cause o blynf row thau detcution of letterw.” He was ok duntly not warried, Jor I ho were, aud bad evef kept & letter from s wife to bis mother-fu-1a¥ inhis pocket for u week without matliug it b would tever buve bazarded so cgreglously erroncous @ statcuent, —— Tho otber dav a New York policeman up 18 the vicioity of Hlarlem was accosted by o Wa)* furer, fu u tiue Irish broue, who agked bim tb8 way to Aunstreet. = Tu Aun street, b it eaid the guardian of the peace; %then Just turn round wud go down this avenue four wilch or waybe four milcs uud o balf, Wl i ruue W e blundering ignorance of the editor of the Tima - What docs the Shylock organ wean by saylog - - aphulntments, and bad tsed up geveral reans g, we admit, but ke shouldn's -