Chicago Daily Tribune Newspaper, January 8, 1878, Page 4

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" viewer. 4 THE CHICAGO TRIBUNE: TUESDAY, JANUARY 8, 1878, '@Iw Tribwae, TERMS OF SUBSCRIPTION. MY MAIL~~IN ADVANC FREPAID, Dally Edtion, ane sear 124 T terary wnd iteligtons Yariaof 8 year. nei kl{m\fl h :,,:Ilflllm Tonthe Kheed 2. Eatnriay Faitinn, xitd Tt Werkly ane ye Bigo TR0 0T B YERT, DRF MORTHL. v WEEKLY EDITION, FOSTPA! necope, pery Cinly f four. Srecimen Give Fost-Giice address fn full including Btateand County. emittanees may ba mado eithor by draft, exnress, Tort-0fice order, or In rexistered letters, at our risk. TERNY TO CITY BUSSCRIDERS, Tially, delivered, Kunday excepted, 25 cents per week, Tatiy, delivered, Sunday included, 20 cents per week. Aduress TUE TRIDUNE COMPANY, corner Madison and Deacborn-sa.. Chl Orders for the deliyery of Tux TRINUXE a1 Engiewood, and Hyde Park leftin the couatl Wil recelve cromnt attention, -room TRIBUNE BIRANCH OFFICES, Tk Cit1cano TRINEXE has eatablished branch offices for the receiptof subscrintions and advertisements as NEW TNRK—Tioom 20 Tribrme Bulldiog, F. T, Me- Fanury, Manager. TALIS, France—Na, 16 Rue da Is Granga-Natellere. 0. Mavien, Agent. LONDON, Eni.~American Eachange. 440 Strand. t. Ilooley’s Theatre. Randolnh strect, between Clark and Lesalle. Yingagement of the Almey Opera Nouffe Compsay. **Marjoiatne." MeVicker's Theatres Madison streer, between State and - Dearborn. **True Woman "and ** Nanthe Good-for-Nothtag." inverty?s Thentre Moprue srect, cornerof Dearbol the Baftala DI Combinatton. and Won, " pgagement of **May Codyy or, Lot New Chicago Theatre: Clark atrect, apposite the Sherman Houss, Callen. der's Georgta Minstrels, Colisoum Novelty Theatre, Clark strect between Washington and Randolph. i TUESDAY, OHICAGO MARKET BUMMARY, The Chicago produce murkets werg less active JANUARY B, 1878. yeeterday, and Dbreadstuffa tended downward. Diewy pork cloxed whnde casier, at 8112754 11.50 for Febrnary and 811, 4254@ 11,45 for March, Lurd closed 233c per 100 1bs hizher, at $7.42%@ 7 or Fehruary and $7,5213@7.55 for March. Meats closed ateady. at 84,03 per 100 Ihe for buxed shonlders snd $5, 75 for doshort rite, Whisky wos steady, at $1.03 per gullon. Flour wae dull, Wheat closed 14c lower, ot $1.07% cash or Janu- ury and $1.08% for Febroary. Corn closed tie lower, at41%c for January and 41c for February, uata closed e lower, at 24%¢ for Janvary and 24 for ruary. Ilye was easier, at Dije, Turley closed seady, ot 67%c spot and e for Togw were active and ennier, closing & 210c lower, at $4.007 4,225 for common to extra. Cattle weroactivo amd stronger, with salcs at 82.50 5 Sheep were unchanged, ot $3.00% xports from the senboard lost week- 000 bris flonr, 842,000 hu wheat, ; 3 ,000 bu rye, O8, 000 bu bazley, 1,200 brls pork, 8,003,000 lhs lard, ond 10,811,000 Ibs meatr. Inapected inta store in this city yesterday morming: 153 cars wheat, 85 cars corn, 16 cars oats, 10 cars rye, 14 cars burley. Total, 277 cure, of 104,000 bi, One hundred aollars in gold would buy $102.02Y4 In grecnoacks at the close, Dritish consols wero cuoted at 0411-16, and sterling vxchange at ARE 4 B Greenbneks at tha New York Btock Ex- chinnge yesterday cloaed at 074, : Scuntor PatrenrsoN, of South Ckrollnu, has confided his inteutions to n Tminuxe inter- He has no thought either of giving up the ghost or his seat; he will neither die nor resigu if he ean help it—which deponds wumewliat upon Providence and Wapg Hase- TON. . Wisconsin was yesterdny equipped with her new Governor, the fnauguration of Gov. Syt having boen nccomplished with be- coming powp and circumstance. In Ohio and Kentucky tho Sonatorial contosts have fairly begun with tho assembling of tho Tegislaturen, Diuny McGannauan's suit agatnst tho Now Iirin Mining Company, which' fu- volves the titloto quicksilver mining prop. erty of vmst value, and which Las been fought in the courts and in Congress for nbont fiffeen years, hos at lnst bean docided upsivst him in tho United States Supremo Court. American canned beef is having an enor- mous sle in Enrope. The principal point for tho prepuration of this article is Chicago, one firm alone exporting over half a million dollars’ worth yeorly to England. ‘Thew success hns induced rival firms fu other cities to go into the same Lrauch of trade. Ono of thewe, the 8t. Louis Beef Canning Compnuy, was very properly enjoined by Tudge Bropurtr last Saturday from infring. mg the patonts of the Wilson Packing Cowpany of this city. Itis nn excoedingly fportaut easo, Ko better statoment than the following could ho made of the rensons for which Tlasuzron und his associntes in the estab. Jislment of the Government mnde tho silver dollur the monetary standard of the United Htutes. Wo quote from aspeoch delivered in the Freuch Logislature by Danv in 1804, whien the question of the standards was be- fore that conntry, e said “Thie money nait must be true money, This unit Tutisl be eetablishied In the motul which tluctuates Teual, whane mus js (he greatest, wloss use i ty B4 ilver, Bt It does not fol- i thia thil the wotal exclnd Is not to b weed in the enrrency. lil to the position of & mere commoility 14 be to Increase the valte of money, cabar- 1ass trade, inerease the causen of tluctuations, and Viing disorder fnto the mansgeaiont of uilairs, Anattack in force is to be made by the Tastern importing intersst upon the systemn of direct importation to Western citles nuder the Immedicte Vrausportation sut. Under the pretonse of deep solicitude for the col- lection of the customs rovenue, but in point of fact for the purnose of regaining the trade tliey have lost in couscquence of tho facili- ties extended to Western mporters by the 4w, thoy will endeavor to secure such ugu in existing regulations as will neces- ate thie opening and inspection at the sen. Yoard of all packages destined for the Iute. «ior, aud in thls way it Is hoped toso cripple iud embarruws Westers importers as to force diumn to return to tho old system, Western Uongressmen should keep an eye on the novement, and be jn readiness to show up ti tiny jnwarduess whon the proper time urives. ‘[hero wero nudited at yesterdsy's meet ing of the Couuty Board bills aggregating §28,000, covering recent expendilures in connection with the County Agent's office, tho County Hospital, the Poor-lHounse, sud the Tusane Asylum; and in the fuce of thiy cuorwous outlsy for publiv charities there was introduced and passed, by s vote of 11 to 3, & resolution which juvolves an almost unllwitod increase of the already immense cxpendituren, It frees the County Agent from ell the restrictions hitherto imposed dollar to that of the greenback, so that it racogniza the silver dollar as a full legnl- limitations are unnccessary, and will prove breaking tho corner in gold as to leave the directly opposing the respousible theory of Government he is understood to favor, under somowhat similar eircumstances. Buch a meeting would bo an intoresting one, and prove lo be a profitable one,—the Com- mitteo of Congressmen on the ono hand and the Prestdent and his Cabinet on the other, meeting in solemn conclave to decide the questions of right and power. To the de- mand that the President dismiss three mem- bers of his Cabinet and nppoint others named to him by the Congressionnl regoncy, and that tha right of Benators and Rupresent- atives to control all romovals and appoint. monts of Federal offices should be conceded, the President would probably confine his an. swer to presentingthe Commitico withcopies of the Constitution of the UnitedStates and of the plattorm of the Republican party, The Constitution makos the President the Ex- ecntive of the nation, and not a mero agent of the politienl parly in power ns repre- sented in Congress. It is his daty to ap. point Cabinet officors and all other offloors, and the Cinetnonti platform directs that he shall exercise that power (Ro of Con. gressional interference, and thnt the practice of Senntors nud Reprosentatives control- ling appointments and removals of Fedoral officers s an unconatitutional ahuse, the camse of grent evils, and the Presi- dont should brenk up the practice.” The President might also hand to the Committeo copies of hia letter of ncceptauco and of his inaugnral address, in which be assured the country that, to the fall extent of his oppor- tunity, he shonld execute this instenction of tho Cincinnati Convention which nominated him for the Presidency. Itis true that the ordinary politician has very little regard for platforms. MMr. CoNgr- riva and Mr, Bratxe wero eandidates before that Convention, nfter this platform was ndopted. Had either been nominated, he ‘wonld have nccopted the platform, and then dismissed it from his mind forevor. Mr, upon the gratuitous distribution of supplies from his office, and directs him to throw opon the door to all comers for the two months ending Feb, 2 Heretofore nons tmt the indigent widowa and orphans and the aged and infirn who were physically and mentally nnnble to work fora hving were permitted to receive aid from the connty ; now it is ordered that supplies ba issned to whomsoever shall apply,~to tha able-bodied tramps and loafers, the idls and nnomployed from any and every causo, those who nre alrendy in the city, aud all who may Lo nttracted hither from the surrounding cities and towns by the prospect of being supported in idloness for {wo months, Until tho 1st of Maroh Chicago is to bo the pnradise of the dead-beat and the bummer, ‘Where the money is to come from with which to furnish this unparalloled free lunch, none of tho ecloven Commissioners who voted for the resolntion scem to know; they only realize that thera are votes in tho faturo to be had in return for this bread cast upon the water, In the meantime, laziness snd improvidence aro at a premium, and fruga! industry and independent manhood at a fearful discount. It is reported from Washington, on how good nuthority we know mnot, that the Presi- dent, backed by a portion of his Cabinet, intends to uso his influence to have the Sil. ver bill ko modified in tho Sonato as to re. strict the legnl-tender quality of the silver will not be recaived for duties nor paid ont for cither interest or principal of the bonded debt, It will be useless for President Hares or his Cabivot to attempt to seouro any compromise legislation that shall not tendor. The people will bo content with the so-called Brasp bill, modified by tho Arrmsoxy amendment in the SBonate, which fixes the coinage at about £i0,000,000 & year, and gives the Govornment the privi- lege of buying the silver bullion and realiz- ing any profit there may be in coining it. 1t is gonerally belioved, however, that Loth cian, - o was & conscientions man, Ho ac- copted tho platform beeanso he approved it, and would not have accopted the nomina- tion had ho not intended to abide by and ox- cente his pledges, The machine politicians, however, carod nothing for party pledges or party platforms, cxcept ns A menns to insure success. Succoss ia the be- ginning and end of political principles with politicians of tho class who are lending or following the Congressional war upon the President. To them the Cincin- noti platform is of no moro authority or significnnco than last yenr's almansc, and the pledges made in that platform no more than mero empty vaporing intended to eatch tho votes of honest fools who put faith in ypolitical professions ! Having served its pur- pose in 1870 and socurod success, to them it is extremely absurd for the President to consider himself bound by it, espocially when the Benators and Represontatives of his par- ty in Congreea insist upon the old practices and abuses which that platform promised shonld be reformed, Upon this point the differenco between the President, who conscicntionsly insista upon carrying out the pollcy proposed by the par- ty, aud which ho personally declared he would ecarry out if elected, and the Con- grossional machinists who have no political hopa higher thau individual snceess, and make all things subservient to that eud, is likely to bo irreconcilable. A Senator whoso torm expires n yoar or three years hence, nnd a Ropresentative seeking re-clootion next fall, and whose only hope of renomination by his party or election depends on the lib- eral distribution of offices nmong those who oro skilled in controlling concuses and ma- nipulating convoutions, cares nothing what- over for last year's platform, He is willing to sink platform and all elso for the privilege of putting o score or two of active personal partisana in ofiice, making thern indebted to him porsonslly for thelr appointment and re- tention in office, and having them psid out of tho National Treasury to labor for his re- olection. All these Congressmen deponding on sngh agoncies for ro-clection will go to tho White House to proteat agninst the Pres- fllent’s policy, to demand tho change in the Cabinet, and tho restoration of the old system of appolutments. Ouo can well imagino the disgust of this whole body of machinists upon being invited by the President to read tho Cincluuati platform, and its promises and pledges! Novortho- lews, tho great mass of the Republicans of the country who are not Sonators and Rep- resontatives sceking renomination and ve. clection, aud who ara not secking office through the ald of such Scnators and Rep- resontatives, will probably sustain the Pros. ident, and will think his consclentious idelity to his own and tho party pledges all the moro hovorable becatwo it finds no support among the urmy of machine potiticians in and out of Congress who seck to pervert the Government to the mere promotion of their soltlsl onds, to be some impediment in the reslization of all the benefits anticipated. It is also be- leved that American remonotization will so onhauce the bullion value of silver by Government no profit on thocoinage ; never- theless, tho peopla will aceept this compro- mise, and leave the desirability of freo coinage to bo datermined by fnture develop- ments, But no compromise will be enter- tained that contemplates avy limitation of the legal-tender quality of the silver dollar. 1f President Hares shall voto a bill incor- porating the Branp and Avrvisoy features, ho will take upon himself the rcsponsibility of antsgonizing well-defined popular senti. ment, and in doing this he would Lo Ho will bave to bear the blame for an un- nocessary prolongation of the presont era of commercinl depression and distress; and he will mnka the silver question the Issue of the Congressionnl eloctions noxt fall, which may havo the offect of tearing partics to pleces. 1t is certain that the result will bo his over- whelming defeat, for the entiro country west of the Alloghanies and ‘south of Now York nnd Now Jersey will be swept by the silver movement, Tho President may have the power, by the interposition of his voto, to delay tho inevitablo, but he will yield to bad advisers if Lo sball consent to do so in the face of the cortain final result, THE WAR ON THE PRESIDENT. The Implacable Republicaus in Congress have determined to make a direct lssue with Mr. Haxes, and forco him to submit to theic demands or forco him out of the Republican party, They demand: 1. Thatthe Prosident shall disiniss from his Cabinet Mossrs. Evarmy, Bouunz, and Key; 2, That he shall appoiut in place of thess threo gentlomen such persons ag may be selected by tho party mnnagers in Congress; and 3. 'That all the talk concerning n reform of tho Civil Bervice shall bo abandoned, aud the right of Sonntors and Ropresontatives to nominnte and re- move Federal officers within thelr respootive dintricts shall ba re-ostablished nnd recog- nized. 'Theso nro the torms on which the mnchine polilmnul of tho Honate and of the House propose that the DPresi- dent ehall remain in the Republican party and bo recognized ns ontitlod to Republican support in Congresa, Of course, to the suiccess of this achomo the consent or tho wenkneas ol the President is essontial, If tho Presidont refuso those terms, then the machiue gentlemen in both Ifouses of Con. gress assume the respousibility of dividing the Repnblican party iu the face of a Dem- ocratic majority in ono Houso of Congross, and lacking only two votes of o majority in the other Houss, and with n certainty that the Democrats will have a decided mnjority in the next Senate, ‘There has been much said and moro written indicating the purpose and the determination to coerco tho Presi. dent into submission, and the Craxpren document is given a wido circulation with a viow of arousing the country to a senso of the machine grievances. Buch cabals have existed before. The most momorable was that which dur- ing the Wur demonded that M, Lincory should * harmonize” his Cnbinet by removing 3Mr, Bzwarp, A committee of Scnators was appointed to notify him of what the cabal dewanded, and the Presidont was requested to fix a time whon he would recelve the Committee, and hear the cow- plaint, aud recelve the terms which the Congrossmen considered essentlal to the pres- ervation of the party. BMr. Lincowy, in fixing the timo to be thus visited and in- structed as to the reform of his Cabinet, stipulated that the Cabinet should be pres- ent. He then convened the several Hecro- taries, prosented the matter to them, and, after a Dbrief disoussion, a declaration was unanimously adopted declaring that thora was eutiro harmony and cordiality on all questions among the members of tho Cabinct, The Cougressional Commit. too was admitted, and was heard as to the necessity of having a Cabiuet all united in opinion and working together harmoni. ously, aud to secure this the President should wake cerlain changes. Mr, Lincown aunswered this by presenting the resolution of the seversl members of the Cabiuet, and tho Committee found theumselves rebuked and snswered, and withdrew ogusiderably chopfullen st their attempt to' control the Executive. A writer in a New York paper states that on a recent occasion the President read over to some wembers of Congress who bad visited him to remonstrate sgainst hus policy the resolutions ‘of the Cincinuati Convention ‘which had nomiuated him for the Presidenoy. Precedents have high authority with pany persons, and we suppose Mr, liayzs wonld violate uo notions of propricty if hu should follow the course adopted by Mr. Lavcowx THE BOUTHERN PACIFIO, We commond to tho Louisville Courier. Journaland to other Houthern nowspapers which are coutinuully harping upon tho ben- ofits to be derived from Tox Scorr’s Texay Pacific subsldy, the interview of one of our correspondents with Congressman Moxzry, of Misalusippl, which was printed in our issua of Monday. Wa call the especial attention of these papers to the fact that tho views therelnexpressed are not those of aNorthern but of n Houthern man ; ,not those of a car. pet-bagger, but of a native of Miasissippl, 1iis statement, in brief, is that he introduced tho bill favoring the HuxTiNaTON schomno to extond the Houthern Pacifio line castward from Fort Yjuaa to El Paso, thers to mest the Tox Hcorr road or any other chartered by the Ktate of Toxas, bocause ho wanted to Liaten tho ‘completion of the road ou the thirty-second parallel, and becanse the HBouthern Pacifio Compauy is ablo to build tho road chieaper and more quickly than Tox Beorr can, sud will build it without auy Government subaldy, and with no more help than the existing luud-grant, e also lots in aflood of light upon another branch of the subject, which thess Bouthern papers, if they are not blind, ought to see by this time, namely, the Vinita branch of the ‘Texas Pacifie, which constitutes the very core of Tow Bcorrs scheme. By the ald of this branch runuing nurth from Fort Worth to Vinita in the Indian 'Werritory, there tapping the 8t. Louis & Vinita IRoad, and ut St Louls meeting about 5,500 miles of road whose terminus is ju Philadelphis, tho Texas Pacitic Boad goes round the Southern States aud is & Southeru road onlyin name, As Mr, Moxex says: As & bnllnnl-pm‘rollllflll‘ Bcorr, sgreat rail- road-mansyer, could ot beexpected to drop In ‘Tcxaa the psséenyers aud frelght brought from the Pactic, 10 "be picked up by uther roads, when he could carry then throub, via St Luals, to Fhil adelphla; 1n othier words, he would prefer 1o carry ali the way Lo catrying ove-tuisd the way. ‘This would luave the Southurn States oot anc weo would sce the ich trafic of Awia aud the Pacific aweop- iug lu an silueut tide aloug our northera border, 8 we bave aceu ths Lide of immigration flow by Iuto the West, becanse of rullway-mansgemens ade Veree tous. With regard to what the Southern Pacifie Company has already accomplished without Haves, however, way not a machine politi. | n xubsidy, o recent lotter in the New York Frening Post from Fort Ynma bears rome valnablo testimony. The rond has now been oxtended 12 miles froin the Central Pacific, The Colarado has heon spanned by o bridgo ot Fort Yuma, and during the year the rond will ho extended along tho banks of the Gila, which joins the Colorado at Fort Ynumnn, 147 milen futo the henrt of Arizonsa, there being sfeambont communication already up the Gila for 300 miles. 'Ihe Southern Pacifie, oven if it should make no Eaatern connee- tions, in alrendy nn nssured success, and ia wecuring the whola trade of Arizona for Ban | Francisco, This lettor says: * Already the trnins coma thither londed with all concelva. blo supplics for the miners, and return with no inconsiderablo amonnt of ores.” Buch onterprise ns this applied to an oxtonsion of their rosd into Texas and Lonisiana, or even tothe Texns border, would stimnlata the real prosperity of the Bouth, and would meet with the favor of the entiro North, two re. sults which 'Toxt Scorr's scheme, nlready in default and halting for want of Government help, can never accomplish,—first, because his scheme is not for tho benefit of the, Houth, and sccand, because the votes of the Northeth Congressmen will never bo given for the subsidy. Mr. Movzx says that no bill that ‘Tost Scorr has yet offerod will got in the States of Alnbama, Georgia, North Carolina, Virginia, and Kentucky more than nbout eight votes. Summing up thd considerations in favor of the Moxey bill, thoy may be stated concisely ns follows: 1. The Bouthern Pacific Road will be for the bencfit of the Sonth and the Texas Pacific will not, 2. Tho Honthern Pa. cific does not usk for nuy appropriation of money or gunranteo of intorest on its bonds from the National Government, and the Texas Pacific cannot be constructed without it. 3. Tho Sounthern Pacific Road being built at private expense, thore would bo no Credit Mabilier or Coustruction Ring, and it would be for tho intorests of tho owners to build their line juat as cheaply and speedily ns possible ; aud again, if the road should prove unsuccessful, the losses would fall upon the owners and not upon the whole people. 4. The Southern Pacific Company has nlrendy demonstrated what it can do on private capital, and stands ready to completo n through line on the thirty-second parallel in the samo wanner, 1f it bo allowed to do 8o without n subsidy, it would forever end Tox 8corr's continnal assaults upon the Tublic Treasury. If it were proven that n groat trans-continental rond could be built and managed by private capital, it would be n denth-blow nt subsidies. 6. Wo would suggest to the Louisville Courier-Journal and other Bouthorn papers which have beon infatuatod with Tom-Scottiam that they are only working agninst their own interests in working for Tox Bcorr, as his subsidy schomo will not command the vote of tho Enst or West and but a small proportion of the vote of the Bouth, Wo commend to thom tho-words of Mr. Moxzy, one of their own Ropresontatives, and he a nowspaper mon: *‘The troublo with most Southern nowspapers is, that thoy know what thoy waut, but they don't always know what their Representatives ore nble to got. I do not propose to make attempts which, according to my views, myst fail. T proposa a mens- uro which accomplishen our desires, and that 1 feel suro will pass Congress, and will pro- mote Southern and National interesta.” THE SILVER QUESTION IR THE CABINET. Bovoral nowspapers thronghout the coun. try hiavo had Washington advices that Pres. fdent Haves brought up tha question of sil- ver ramonotization before n Oabinet meoting laat Friday, with the purposs of nacortain- ing whotlier the Oabinot could ngree upon ooy measure which the President ought to approve. It is said that, in the ovent of pn ngreement, a bill would be framed and an of- fort mndoe to have it passed by Congrera, in order that the President might not bo placed in the position of antagonizing Cougress and the people in this mattor. Other specint dispatches from Washington assort that tho Cabinet took no action on the quoation whatover; that it was not mentioned while tho Cabinet was in session, but waa only in- formally talked over by some of tho mom- bers after adjournmont. The firet and most ciroumstantial story alloges tlat thero was n grent diversity of oplnion; that all the par- tles to the disonssion admitted the nocossity of conceding somo mensure of romonetiza- tion in response to the popular demand; that tho Prosidont Intimated vory distluctly that he would feel it his duty to voto the so- called Brano bill; and, flually, that thoro was an adjournment without an agroement upon any definite plan. It I8 reprosented that the discussion was narrowed down to one of two propositions, viz.: That a genoral schiome of remonctization domands that the weigat of the silver dollar should be in. cronsed to corrospond with the present value of silver bullion in gold coin, which wonld bo at the rate of 17}or17}to1; or, in case of remonetlzation of tho silver dollar of the old standard, it should eithor bo made interconvertible with greenbacks (which would excludo it altogether from payment for duties), or mado rucelvable for duties to a limited amount. Of course all this information is un- official,—it may or may not be correct; or it may be partially correct and partially in. correvt, But it {s in order to say that neither of the propusitions on which the Oabinet is roported to have settled will satisfy the people, nor be entertained by a majority of Cougress in behalf of the peoplo. ‘Tho theory tlhat a remonetization of the silver doilar demands thav the weight of that dollar bo increased to correspond to the present London bullion valus of silver as measured Dby * cornered” gold, is shmply absard. It {sin plain deflance of the cxpe- rionco of all the rest of the world,—even with our own exporionce hafora the silver dollar was demonetized,—which toaches that 15§ ounces of silver to 1 ounce of gold is the proper basis for equalizing the money value of the two wmolala, At the rate of 16 to1, the old American standard, the silver dollar was alwaya too dear, and it would not froely circulate, but was exported in pur. chase of goods. This proposition likewiso ignores entirsly tho influenco of a lawful- tender fuaction, in spits of tho fact that the forty millions of subsidiary coin (whose bullion value is ouly 85 cants in gold) circu. lates at 974, or at par with greenbacks, by reason of being & legaltender fur $5 only, and also in spite of the fact that all' the Latin Union countries ot Europe, and also the German Empire, maintain silver coin at par (to the amount of more than one-third of their entire specie circulation) by making it a full legal-tender. To begiu the recoinage of the zilver dollar at the rate of the present bullion value of silver would be to make the Government as- sume an immense loss in the purchase of sil- wver bullion at nsing rates in order to make an overweighted dollar, and it would also be nocesdary to order a genoral recolnage of all the rilver every fow weeks nt a lower ratio in order to keep the silver coin in circulation. Aa the Loudon 7'émes has said, the remonotiz- ation of tha silver dollar would equalize the valnues of silver nud gold coin; and, at tho rate of 16 to 1, tho American dollar wonld soon prove, according to past exporience, to bo compnratively too heavy, aud ought to be rednced to the Europesn standard of 15} tol. The other proposition said to have been considered by the Cabinet—to make tho sil- ver merely convortible with greenbacks, and hence not receivable for datics, or to limit its legnl-tender capacity—will not satisfy tho demands of the vast majority of the people. Buch netion wonld littls better the #itnation, The same *cormor” on gold thot now etista could still bo main- tained. ‘The remonotization iz not asked in n manner that would still leavo the conn- try to prepare for resumption’in gold alone. That course wonld maka no difference in the presont condition of things, The demand is that silver aliall Lo recoguized as fall moncy, not A mero substitute or mnkeshift for money. It is one of the two metals that the civilized world hns ngreed upon for th longest period of time asn medium of ox- chango and mensura of values, ‘Theolimina- tion of silver from the stock of monoy has artificially contracted the mensuro and oquivalont of values; property has declinod in proportion as gold has becomo dearer, and thobusiness of thiecountryis nlmost paralyzed at tho mere prospect of being compolled to ndjust all differonces on tho Lasia of scarce, denr gold nlone, which is kuown to be in- adaquate for the double daty which o class of sharks want it to discharge. Tho only way to avert tho ealamity is to place silver on the level it alwaya occuplod in our Ameri- onn systom when wa were on a specis basis. THE LATEST FINANCIAL FRAUD, Tho failure of tho Nerren Brothers and Boxxen & Co., Now York brokers, has served to bring to Iight n system of fraud which, thero I8 reason to believe, is practiced more or loss by brokers and financial agonts in all lnrgo citios. ** Rohypothecation ” s what it s called, but in the way in which it is practiced, the term’is only n variation for swindling. Tho practice consists in borrow- ing money on securities loft with the brokor or banker s collateral on n loan. Thusn ‘borrower of 1,000 from tho Nerrer Brothors would deposit with them $10,000 worth of railrond or othoer stock to sacure tho loan. The Nerree Brothers would then tako the* $10,000 of stock and pledge it with somo other broker or bauker for ita face,—$10,000, —making their note for the latter amount. In this transaction thoy would be sble to borrow $5,000 (the difference botween the amount they advanced and the amount they borrowed on tha sccuritios) without pledging any securities of thoir own, Tha transaotion on its faco is fraudulont, because it makes uso of other people’s proporty without their consent, Bat it becomes a positive swindlo from the fact that it {s necessary to make an absolute transfer of the stock or bounda deposited ns collateral, ' Tho sceurity then becomes the property, to all intents and purposes, of A. B,, the lender of the first money, and he has the power to trans. ferit to 0. D., another broker, banker, or money-lender. The Courts have 'held, wo believe, that O, D.'s lfen on the socurities is good ns ngainst overybody, including the ronl owner of the atock or bonds, until his claim sball bo paid in full. Undor this practice, it is hazardqus to borrow money and leave collaterals of doublo or greater value than the loan (which is always de- manded), except from those whose personal charactor and responsibility are satisfactorily kuowa to the borrower. Thoro1sa goneral improesion that the man who londs the money s the only one who takeu o risk, but this {8 & serious miatake, It frequently Lisppens that a man who wanta an soccommo- dation losn. of, say, 310,000 puts up stock of the valuo of 30,000 or %10,000 to socure it. ‘There is nothing in the form of making this transfor which indicates that it is mado for the purpose of securing a note, but it is the samo asif atock had boen sciual. ly sold. The broker or money-londor who holds it may negotiato a lonn thereon of donble or thros imes the amount he ad- vanced, and tho original borrower can only get back his property by paying tho socond loan, or two or three times as much as ho borrowed. We bolieve this has boen sottled upon as the law, but, even if tho question bo atill open, overy man who borrows money on collatoral which s more valuablo than tho loan runs the risk of & long and costly lawauit to got back his property, if he places it in tho hands of & brokor or banker who is likely to *‘rohypotheote " it. A curlous {nstance of ambiguity of expression oceurred In the Assoclated Press dispatches yesterday, as follow Hr, Prrenssund, Jan. G,—It s romored that Austris and Ucrmany have _vetoed ths idea of openlug the Dardanclles 1o Russian vessois only. asuia line conaequonily determinca not Lo rafse the questlon at sl 1t this means that Austria and Uermany have vetoed the fdea of opening the Dardanctles to Russtan vessels cxclusively, it {s nonscuse, as no such propusition ever was made by Russia. 1f 1t meavs that thoy object only to that part of the Russian programmo stipulating that tho Dardanciles shall be wade & public bighway, it 1s false; for thoy hava slenified by word and act thelr ncqulescence with this very just dee mand of Russis. The lust sentence of the dis- pateh fs bosh. ———— As was to be oxpected, tho 8t. Louis baby- show came to grief, The manager fafled to up- pear Baturday at the Mercautlie Library, where the Infant mensgerie hud been held during the week, and a wild rumor soon pervaded tho mass of womanhood present that hu had absconded ucrose the bridge luto [llinols. - Then thero rose a wail, and the entire femals army marched to the kotel where the manager had been stupplog. The procossion was leaded by o Jepublican ro- porter, armed with a big, fay baby which was the most svallable missile to be found on short notice. But It was of nouse; the wretch had flown. ‘*And thus,” grupbically perorated the reporter, *‘tho greatest scosation of tho year was consummated.” ———— The City of Chicago applie g0 to the United States ‘'rast Company, k, for & Juan of $1,000,000 10 by secured by the frwt rov- euuu collucted frou curront taxes. “The loan was refuxed ualess the boude wero lssucd on & goid Vasis,~Jadianagolis Jouraal, The Indiavapolis paper founded {ts parsaraph upun u statement in Jox GouLp's paper which led. Tue City of Chicsgo did not apply fora wiilion loau, and the bauk d!d not refuse it *‘un- Jess lisued on & gold basis.” Tho United States ‘Trust Company did not offer to loan any suw, sad did not ask that a losu should be made pay- sble fu gold, Jar GouLp's Shylock coucern lied sbout &, i~ There 1s some trogble with the managemen of the Buresu of Statistics which Becretary BUERMAN has heen fnvestizating. It 15 a long, tedious story, but the poluts of it are compactly set forth ju the following from the Nation ; The Cominiselvncrs sppointed by tbo Bocretary of 1he Treasury 10 examiue into the managemuut of the Burcau of Siatletice made a zepors, dated Oct. 15, 1877, showiny a scandalous stata of facts. The Comnmlssion consisied of turee Goverument oulclals, eclccled by Mr, Bususax especlaily for the work, snd Lhelr repurt is therefore uul opua 10 the charso of partianshin. They show that Gor eenment publications, prepured at public oxne were suld by the ron’ of Dr. Yata, the Clie: tho Iinrean, the procaeda helnz pocketed by him; that private edittons of sich publications were printed by the octor for hly nwn benedt. cortain cocporations lisving iande private seranzoments with “him _in tho enteroriso with a view to profit on bath sides: that the Doctor nsed his time, pafd for by the Government, for private businese, lanun-ly bald. Out of a variety of improper rausactions of this sort Dr. Youxa's son made monoy cnough to take A Enrovean teip, In 187! tho Doctor received nn Government delrzate to the Internationnl Statlatical Congeren nt Bt, Peters- buny, m_addition to_his regular snlary of §2.500 for the wholo year, 81K.61 por dlom for the time 0 employed, and, not katisded with thls, was pakl other witma by Engih and American mer- chanta: and he sdmitted that there was **soma othet partien el contributer to the expennes of iy fhis] family," Another little ventire of his w13 8 voluwn called ** Labor in Knrone and Amer- fea.”" printed by the Gosernment, but solil by Dr. Youxa for liin private emolument. ~ Allogether tha report i n disgracefnl exposure, and iy it has not been followed by some actlon on the part of the Govornment Ia a mystery, e — . The late J, EpcAnr Tnosrsox, President of the Pennsylvania Raflroad Company, left an estate valued ab $1,500,000, ond, under fnstrue. tions of his will, it was to be placed In trust to bLe applicd to the maintenance of female or- phans whoso fathers might be kilied on the Pennsvlvania Kond, Bince his death, however, amultitude of claimants have bezun auits for varfous Jarge amounts ngalnst the estate, and probably when the legal procecdings aro ended there will not be adollar Jeft for the fomals orphuns. P —————— ‘While the Mexican war-clond has pereeptibly faded out of the United States, they aro still In the throes of excitement down below the bor- der. A correspondent writes to a City of Mexlco Journal, calling for the enlistment of o regular army of 160,000 men, which can be malntained at an aunual expense of $25,000,000. But ho overlooked the little fact that the total revenues of the Mexican Treasury have not far many years exceeded, and cannot now be made to exceed, $21,000,000. e e To the Editor of The Tribune. Cnteano, dan, 4,—To sottle & dispute, will you pleasc ansiver (he followlny questions? Haa the ex- Confedorate Jack Moxay held © Government oflice since the War? What wan the greatast nume. ber of wives Bntoinan Youxa had at one time? (1) Not even o P.-0. (2) He had over forty, but of courae inany of them were N. G, o Thereare half adozen ¢andidates forthe Ken- titcky United States Scnstorabip, and a shrewd correspondent estimates the chances of poor Paocror Knorr as fourth, while Gov. Mo- Cneany s sot down as third, with brightening prospects. ‘The Republicans of New MHampshire do not scem to have been apecially moved by tho Cran- nLEn letter, caucus alter caucus in tho differ- ent towns having unanimounsly passed resolu- tions sustaining the President. e — Peru Is making grentcfforts to secure Chineso Immigrants, who are allowed in that country to enjoy the rights of cltizenshipand to Interinarry with the whites. . Bat Peru {s not a great na- tlon of broad and Hberal views. | After Parls, what1 An Exhibition n Australia 1n 1870, and another fo Italy in 1880. Then the Millennium,—~perhans. Californin has bullt 300 miles of rallroad dur- Ing tho past year, and galued 20,000 in popula- tion by immigration. | | Philadelphla now clalms to bo the Parls of Amerlea, and wants to tlavro port at Cape May. . How about Icll a8 o summer-resortd fsadean ol il PERSONAL. 8peaker Raondall believes in total absti. nence. Mr. Tilden is about to spend a month in Florida. The Rev. W. H. H. Murray’s paper, tho Golden Rule, 1s sa1d to be winning famo and for- tune for Ita cultor and proprictor. John Brougham again malkes claim to the authorshlp of **London Assuratice,* and saysthat Mr. Doucicault's clalm {a proposterons. Osman Pasha wns a closo studont of the campalann of Gon, Looand Gen. Joseph E. John- ston. Thoy taught him Lo to fall gluriously, David A, Wells arguos that charitablo women can domoro to relleve the poor by agitating for the revision of the Protective tarifl than by any other means whataver. . The Twoed of Constantinople, Riza Pasha, isdead. During tho Crimean war ho drow the pay ofan entire army corps which did not exist, and ont uf this 1ittlo gpeculation algna made 810,000, - Gov. Van Zandt, of Rhodo Island, who fs aTrohibitionlst at home, facharged with having taken o glass of winoe at Loulaville last summer, and his party friends aro threatening to ponish hlla for thls gravo breach of good morals, ‘The old song **Gnndeamus igitar” has Just boon traced back by Guatay Schwetachke, the Gorinan poet, to a hymn of the yoar 1207, where are repeatod Ite genoral course of thought, and are ro- produced certalu of ita gecular turns, (loorge Inness, the Amorican artist, oon. alders Tarner's ** 8lavo Ship” **n most infornal plece of clap-trap,** Buch as 1t fn, it haw been writton up for the Febrnary number of Harper's Magazine, and engraved for the firnt time. Tho Burlington Jlawkeye prints an inter. vlew with Charlotta Bronte's nurse, the force of which 1s somowhat fmpsired by tho fact that it contalns a letter of condolonco on the death of Misa Dronto dated in 1833, two years befora she departed this life, According to the London Z'ruth, in fature no Roman Catholle occlesia: will contribute to the Loudan Confersporary Reclow, evon in defonse wl thetr own vlews; and their disappearance from orint will be due to the strongly-cxprossed opiuion at **auperior authorltics, Charles Francls Adams, Jr., doclares that tho exawination papers for admfssion (o Harvard Collego are '*a disgrace to the who prepared thom, a disgrace to the institutlon which tolerates thom, fand an outrage on the student, who fs subjected 10 a process of cramming that would bo barbarons if applied to s tuckey," The Windsor, Duckingbam, and othor fashjunable up-town hotels In Now York have mad¥ tho old Broadway entablishuients unprofita- ble. The 8t, Nicholas will probably be converted futa atnres after the 1stuf May, The Metropols Jian has passad into the hands of Judge Hilton, who hiaw rofurnished it throughout, snd will at- tempt to mako it profitable undor a mansgor. It will be observea with some ocuriosity and intereat that among the lecturors announced by the Young Men's Hlebrow Association—a Jewish equivalentof the Y, M. C. A,—are the Rev. Dr, Johu Mall, Presvyterian, and the Hev. George 11, Hopworth, Congregationallsl, Parke Godwin, of ha Post, 1s also to lecture on the **Theory of Att," and the Rev,* Abram 8, Isascs (Hebrew) on *4The Dance uf Desth.” D. B, Btanley, nuthor of the charges ogaluet Gen, Hazen, 1mformed him, on (he eve of his doparture for Burope, that the prosecution would not ba stopped, in spite of the intervention of the Fresident. . **You know just as wellas] do," wrote 3r. Stanley to Gen. Hazen, **that your triul could anly Liave rosulted In your convice tion, and where your case Is known you are ale ready convicied in public opinion.' I'he New York T'imes veporis an impor- tant religiouseventthue: ** Rusingin his pulpit, the clergyman said, with a beamiog smile; *Brothren, 1 bave an dmportant sunouncemont to naks Lo you, Mr. Kimb'—at this wmousent the stsmpede be- &un, snd, thuugh he roew st once to the importance ofthe occaslonaud yelled—*ls not bero!’ he was toolate to arreat ghe flight of seversl prowinent members, who wers oy out Juthe open air #nd Bying for bume like atartled fawns. " It is reported in the Philadelphia 7ele- graph that the Rev. Dr. Newton, of the Church of thu Nativity (Protestant Kpls 1) fn that city, bLas ‘*declared hie determination to renounce the Frotestaut Episcovs] miulstry nd 10 cuter that of the Reformod Episcopal Church, and it {s now said be will orvunize 3 letormed Eplacopal congregs- tion lu the northern sectiou of the city, carrying with him & number of tho wembers of the Church of the Nutivity.” Dr. Nowlou has been in tho Protcstaus Eplacopal minfstry for many years, aud bas boun 1dsatiticd with the ** Low-Church™ pasty. THE COUNTY BOARD. e s Recorder .Brockway’s Pay---Rg. sponsibility of Heads of Departments. Able-Bodled Men Ont of Work fo Dy Supported by the County for Fitty Days. The County Bonard held a regular weokly mecting yesterday afternoon, Trestlent Senne In the chalr, and present all tho Commisstoners except Tabor, A communication was recelved from the Women's Christian Assoclation asking for ald, 1t was referred to the Committce on Public Charfties. A communication waa recelved from the As sistant County Treasurer asking the Board to inquire into tho matter of the reductlon of thy salary of the Chief Clerk In his oflice from $2,600 to 81,500, his dutles belng oncrous. It wasre. ferred to the Conunittes on Floance, RECONDER DROCKWVAY, A communication was read from the County Treasurer stating that he had nade.a demand on Recorder Brockway for 87,109.03, theamount. due the county ns the earnings of lrfs” office. in. closing a communication from Mr. Brockway on the subject, In which §t was suz. gested that on agrced coso b made up to bo submitted to tho courts, where. by the question of tho latter's right to 81,00 per year for dofng the abstract woric might he determined, Tho communication further eet forth that Mr. Brockway had pnld into the Treasury the sum of §6,100.00, but was deter. mined to hold on to the balaneo until his righty in the matter had heen settled. Commilsstoner Fitzgerald satd the Recorder was o defaulter In every sense of the word, When his flrst report came §n ho was nsked t turn over the moncey duo the eounty, but didn' doit. e bad held'it for a year. Now he came in, referred to what previous Boards had done to previous Recorders,—allowed them money,— ana asked the Board to make up an nereed case, 'The law on the subject of the Recorder’s duties wns very plalu, ns was that iy roference to his compensation, But held 81,000, It was pre posterous. If he thought ho had any right to tho moncy o should lave turncd over the money, then sued the county, and madg up an agreed case. Mr. Fitagerald moved that the document be referred to the County. Attorney, with tnstructions to take proper l't;ulm o ury to to foreo Brockway to a scttlenent, amid wouldn't scttle, to call on the Urand indics Mm, Cominissloner Bradley moved as an amend. ment that the communication bo referred to the Cominittee on Finance. 'The amendment was accepted, and the paper went to the Cominittee, An inventory of supplles on hand at the In- sane Asvium and Poor-House nt the close of the yeor was read, It showed that the supply nceount was very short, and it was required by the Committee on Public Charitles as tho com mencement of a much needed reform, Referred TIORROWING MONEY, ‘When tho Finance Committeo was called, Commissioner Fitzeerald sald the report way rendy on the subject of borrowing half a milllon by tesuing certificates of Indebtedness, but the Comnitteo hudn't received the opinion of the Ceunty-Attorney, and wouldn't gut it until the middla of tho weck. Commnlssioner A{nn moved that the report lay over. Agreed to, . ‘Tl Cominittee on Puble Charitles reported in favor of paying ‘bills as follows: County Agent’s ofilce, 812,800,821 Insano Asylum, $i, 761,803 Poor-Housc, 257,55, Total, 20,410 &, Cancurred In, ‘The Cominitteo on Hospital recommended the payment of bills amoeunting to $7,067.82. Con- cerred in, "fhe Committeo on Jall and Jall Accounts re- ported In fuvor of paying bills amountiug to $1,034,03, Concurred In. i Tho (l)nmn[nlum;’on Public Sorv{m rcpao“r‘:fl‘l& avor of paylug the county cmployes 5. for December,” Concurred fu, ’ 1EADS OP DEPARTMENTS, Tha resolutions introduced ot a former meel- ing intendad to prohibit the interforenee of the Commissloners aud cotnusitices with the heads of thaseveral Departments in tho macter of maklng the appointinent of employes, and to Told the heads strictly respousiblo for the rune ning of thelr Departmouts and the acts of thelr cmployes, were taken up. Commissloner Fitzgerald moved that the reso- Tutfons bo ndopted. ‘They souglit to do what the Dourd and a good many people bad been desir ing tor u great many years, As it was now, the Depuartmionts were run by a wajority of the Board or tha Commliltce, and when one asked ahead why he did this or that s would say, I have been‘authorized to do it by the Commite tee.” The head shiould bo responeible for the cinployes, and for the money ‘mld out, 8o that, when “necessary, reports could bo procured. Tho passage of the resolutiuns would have s tendeney to zood woverninent, Commissioner Sepne sUn«iley in tho chalr) agreed with Fltzgerald about holding tho hua responsible, but before It could be doune there must ba some rules and regutations for the gor- erment of the Departmaonts, especially of the County Acent's ofllce, At present, thers were no checks on goods dellverd to theso ‘who got tickets, They got what thoy wanted at baher © and buteher shope. Ho belloved in making ar- rangements so that the poor peopls couly get thelr tickets In one part of the oflico snd the goods in suother. Then thero would be some control over things by the Agent, and he could }m beld vespousivle,” Ho offercd the follow g Resolred, That the Committes on Pablic Chard: tles be, and tlioy ara heroby, fnstructed to adeot rulcs and regniations for the government of the aeveral charitablo institutions T)v which the heads of wald Departments can be made responsible for the management of the samo, Comulsstoner Fitzgerald moved that the sub- atitute and resotution be referred to the Com- mittes on Public Charities with fnstructions to mtun, rules and regulations. Agreed to. Comnmizsioner Burling sald that the resolu- tlon met his u[:pmlmllun. and very wearly cor cred what he had intended to suggest oi the subject, whereupon ho read a series of resolu tlons bearing on the same subject and of the same general purport. Comuisaioner Senus thought It necessary o have other tzunnon for tho County Ages movedthat for a largor store, Commissloner Bpofford belleved it impossibls to run the office by rules and rezulations aslong us thoe present place was used. -Comiyhisionor Fitzgerald was in favor of the county’shuflding astore if tho Agent's otflico was to be a permansut thing, since (¢ would be cheaper than renting fruim year to year. The notlon waa sgreed tu, 'kho resolution futroduced at aformer mecting prohibiting tho members of the Boanl from naking {mn-hm- for the county or ordering work without the co-operation uf u tnajority of the Comulttce to which they belonged wab called up and unauimously adopted. TRANSPEH. ‘The resolution of & former mecting provid- ing for the transfer of $65,84.06 from the Cum- mlssion Account to the General Fund wat taken uv and adopted, the noney to bo pabl out on orders accordiug to priority of date, or ders for salarion to be glyen preccdece. Yo resolutions transferring 813,050.83 frow the same fund to the Court-House Fund was sl sdopted. OPENING TIfH DOOKS. introduced the followlug: hero is at present in forco st the oftice tho following order, viv.: b, Bu it and it s hereby ordered that (o snd after the 1st day of July, 1874, uo pereod who s ablo-bodied,” and physlcally und wes: tally abl to earn a living, shall be suppuite by or recclyo ald from the county; and that wlsd {rom the connty shall be confined 10-aged, indizcot petwons, Indivent widuws and orpluns, uld. de cropit persous who are phyasically and meptsls upable to work for a living, ¥nd soch extrend caxcw s inay bo eapecially ofdered by tha Losrd or a mujority of the Cominitice on Public Charined fu wiitfog"; sod Wugikis, A great many able-bodled wcn bhatt peen and aow sru witbout the mieans of carning 3 Jiving, coused by tho present dopressed Huchi therelore be it Jeavived, That the above order bo and is nm_b‘ ;_cct:nélrd 1ot Lhe two months euding Feb, 28, 157 urther Kesalved, That the Clork of thls Board noti ::h“ County Agout of the actiun of thls Bud wreon. Commissiouer Seune believed that would opes thefoorto too many, He belleved s piviod the Agent discretionary power, but i leavisd lh“:_':ulu ullt mu. sdontad 11, Btk ‘The resolution was adopted—yeas, 11,08 8, as follows: Yeas—Ayars, Boeso, Bradley. Burling, Clesrt only, Fhkgerant, s, Uize, W&o, N 0., !\'flyl—lflmflurd, Wheeler, Boune. After the voto had been anuounced, Conni: slouer Spofford wanted to_cbunge bis vote, bt the Chatr decided that he couldn’t do it. Cownwissloner Conly moved to reconslder. Cowmissioner Mulloy moved to refer the ref ice on Public Charithes | ruld sald the voe bl ¢ boped thete wouldWd been reconsidered. an. lie Committeo be Inatriicted 1o lovk *

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