Chicago Daily Tribune Newspaper, January 19, 1878, Page 4

i me HEre 4 The Tribrwe, TERMS OF SUBSCRIPTION. TY MATI~IN ADVARCE—TO pally Filiton, one yenr.. 'sris 0f A year. Der mont| d Yilitian: * Literaty " 48" One copy, per yeat o Taner Breclmen coplies rent tree. Give Post-Ofice address In fall facinding Gtateand Connty. Liemittances may he made efthicr by draft, exneess, Fost-Office order, orin registered letters at our risk. TERMS TO CITY BURSCRIDERS. Tafly, delivered, Ennday excented, 23 cents nes week. Tally, dellvered, Eunday Included, 70 centa ner week, Address THE TRIBUNE COMPANT, Corner Madjson and Desrborn-ats.. Chicago, Til. Orders for the delivery of Titx TRIMUNEat Evanston, Englaweod, and lisde Park left In the couuting-room willreceive promnt attention TRIBUNE BRANCH OFFICES, Trx Ci1cAG0 TRINUXX has established branch offiecs for tha recelptof subacrintions and sdvertiscments as follows: NEW YORK~Room 29 Tridune Bulldiog, F. T, Me- Fanpex, Manager. TARIS, France—No, 10 Ruc de Is Grange-Datellere. 11, MaNLER, Agent, LONDON, Eng.—American Eschange, 440 Btrand. Hrxnr F, Giutia, Agent, BAN FRANCISCH TAMUSEMENTS. ince Tiotel, Hooley’s Thoatre, . + _Randoiph street, between Clark an® Lasaile. Engagement of Elizaheth Von Stamwits, **Measalina,” Afternoon snd evening. MeVicker’s Thentees Madfton strect, between Kiate snd Denrborn. ** Lost In London ™ and ** A Qulct Family." Afternoon snd evening. Elaverly’s Thentre, Monroe street, corner of Dearborn, Engagement of Jobn A.Btevens. ** Unknown." Afternoon and evening. Colmeum Novelty Theatre. Clark street, between Washiogton and Randoliph, Variety performance. SATURDAY, JANUARY 19, 1478, OHIOAGO MARKET SUMMARY. The Chicago produce markets were generally firmor yeeterday, Meas pork closed at 2i4@hc per brl higher, at $10.374 for February and $11.024% for March. Lard cloned 2%e per 100 lbs big! 2t $7.4214@7.456 for February ond 87.60@7.52! for March. Meats were stronger, at4c for boxed shoulders and HiXc for do short ribs, Whisky was easler, at £1,03 per gallon. Flour was tame, Wheat closed 1c higher, at $1.03% for Januoary and 81.04!; for February, Corn closed 1{c bigher, at 40%c apot and 40¢ for February, Oate closed firmer, at 23%c spot or scller February, Ryewas steady, at 5lc. Darloy closed g higher, at i2c asked for Febrnary and G2%c for March, THogs wera active and Ge higher, at $5.0094.15, Cottle were dull and weak, with light rales, ot $2.00@35.50 for inferlor to extra. Bhoep were quict at $1.00@4.560 for common to cholce, Inspected Into store In thincity yesterday morn- ng: 260 cars wheat, 182 cars corn, 71 cars oats, 27 cars rye, 78 cars batley, Total, 624 care, or 440,000 bo, One hnndred dollara in gold wonld buy $101.87); in greenbacks at the close, Dritiah consols were quoted at 053 and sterilng exchango Bt 84,875, —— Greonbacks at the Now York Stock Ex- change yesterday olosed at £8}. Tho Hon, Ganusua A, Grow, ox-Sponker of tho Hous, in nnnounced ns a candidate for Governor of Pennsylvania. It is urged ,in his behalf that he wonld be able to unito the elements of the Republican party of tho Btato that havo divided on the question of sustainingthe President's policy, and that his record o8 tho nuthor of the Homestead law will mako him ospocially accoptable to tho industrial classea, The movement to cust Mr. Farxon, the Sergeant-at-Arms of tho United Btates Senato, scems to have complotely flattoned ont, much {o tho discomfituro of Mr, HaxNIDAL Haxuin, of Maine, of whom the former had apoken disrespectfully, and who thereupon becamo convinced that Frexcr was not the right man in the right placo. If everybody were punished for spenking disrespeotfully of this spacimen of Mnine modiocrity, o whipping machine of extraordinary capacity would bo required to do tho work. Negotiations for an armistice bave already been entered upon, the Tarkish plenipoten- tinries having held a conferonco with the Grand Duko Niouorss, who received thom courteonsly, and at once procoedod to busi- ness by demanding 88 & preliminary condition the jmmediate evacuation of Adrisnople. This was at onco complied with, the Turkish forces withdrawing to n line of intrenchments outsido tho city, The commencement of negotiations involves o complete suspension of military operations, and tho noxt fow days will be oceupled with peaco proparations instead of war movo- wents, % The Common Council has fonnd at the very outset that the wholesalo ordering of street-paving 18 cortain to ineot with stren- uous opposition from the property-owners, Thafirst of o list of remonstrances that will rapidly incrense as the ordinauces aro taken up was received b last night's meoting, ‘When the owners of property fronting on streots which tho Council propose to bhavo paved cxerclio their right of romonstranco and notify the Aldermen that they aro too poor to boar the expense, it Is timo for theeCouncll to stop and inquire whother assessmont under euch circum. stances is not confiscation. Thoe property. owners bave somo rights in this matter which the Council will do woll to take into =ousideration. ‘TiepeN's claims upon the Domocratio par. ty to bo nominated as p matter of course for tho Presidoncy in 1880 conflict with the Bouthern claima for a part of the contonts of. the Natioual Troasury. The South has not forgiven tho writing of the lotter during the campalgn in which "Tizoes tumed a cold shoulder to the Treasury raidera. Alr, Mivwy, of Texas; yesterday aunnounced the pro- grammne of unalterable hostility whon, in re- sponse to & member who had gent up the lotter in question to be read from the Clerk's desk ad an argument ngalust tho passage of a bill ta poy o clalm for mill property seized in Virginia by the army, he said; *The gentlewan need not be dis. turbed about the letter of TiLpen, as Lo wilt never again be 8 Democratic candidate for the Presidency. Ex-fecrolary Bristow was royally enter. tained in Boston last evening at a dinuer given by his admirers in that city, In bis speoch Mr. Bumsrow warmly indorsed the courss of tho Administration in reference to Civil-8crvico reform, and he also had some- thing to say about the currency question, donousciug as practical repudistion overy device for the discharge of a public promise to pay adollar by the delivery of suything leas than a dollar. This is just what the sdvocates of silver remonetization do not propose to do. ‘Tley propose to discharge the publio promiscs to pay by tendering a full, perfect, sbsolute dollar; the dollur which was coutemplated in tho promise to oy, and which eutirely fulfills the oblige. THE CIIICAGO TRIBU SATURDAY, JANUARY 19, 1878—TWELVE PAGES. tion of tho debtor. If in this nllusion to re- pudiation Mr. Bristow meant the silver dol- lar a8 it was and is to bo again, o will prob. ably discover that abont throe-fourths of the peoplo of Amoriea entertain decidedly dif- feront views ns to what constitutes repudia- tion, plaint over the dilatorinoss of the Senato in taking nction upon tho Bilver bill, which overshadows nil other discnssions and all other logislation at this time. Thero seems to be a disposition to ignore the intense anx. {aty with which tho country is watching the progress of the proposed legislntion, Even the specclies on the subject are regarded with impatience, for the genoral fecling ls that 1t has been discussed enough, and that alt persons who are in a positicn to influence the legislation one way or the other have al- ready made up their minds what courso they will pursue, The tempor of the public out- side New York and the New Eugland States lias long boen manifest. Dut, in utter disregard of nll this and the languishing con- dition of trade,—all tho worsa because of the provailing uncertainty,~the Senate quictly adjourned yesterday morning till Monday, The Republican Senators, meanwhile, found timo to hold n canens to consider the casc of Horgennt-nt-Arms Frexcw, and we presume the Democrats found timo to caucns about something clse, But the conntry ls kept in suspenso, and businesa houses are tottering, nnd banks aro closing, and men aro growing mora despondent day by day, becauso of this culpablo delay in renching the final issuo of sllver romonetization. A WARKING TO REW YORE AND NEW ENGLAND. ‘Wo printed yesterday a protty strong argn- ment in o communication from & logal gen- tloman in Jown, in which the position was takon that Congress was roguired by the Conatitution to make gold and silvor logal- .tonder money., The Constitution provides tliat Congress shall have power ** to coin money, and o regulate the valne thercof and of foreign coin” and it further provides that no *State shall coln money,” nor *'make nnything but gold and silver o legal- tender in payment of debts.” It is vory clear from this that every Stato mny constitutionally make gold ard silver n logal-tender in paymont of all debta payable in such Btate. That is a proposition too plain to bo controvorted. By law of Illinois tho silver cuin of the United States hna been n legal-tender in paymont of taxes and other dues to this State from 1819 to tho present time, and is now the Inw of Illincls. Ilow far tho samo rule Lias beon adopted in other Btates wo aro not preparsd to sny, but sup- poso it prevails generally, The States may, under the constitutional provision, mako the samo coin n legal-tender generally within the Stato in payment of private as well as public debts. 4 Our correspondent, argning from the prem- inos, venchies tho conclusivns: 1. That the exclusive right tb coin monoy is invested in Congress; 2. This exclusive right imposos npon Congress the duty of cxerclsing this right; 3. The exclusive coinage power Lina for its object uniformity in money and in its valuo; 4. This legal-tender money, ecstab- lished for tho States, is gold nnd silver; 5. Tosecure this uniformity of monoy it noces- sarily follows that the coin made by Con- gress must bo the gold and silvor coin, which the States olone can make legal-tender; 6. Therefore, Congress has neither the right to refrain from coining gold and silver, nor the constitutionnl power to deprive tho States of cithor or both, by domonetization or other- wiso. The power of Congress to direct tho coin- nge of monoy, to regulato the quantities to be colned, the cost of coinage, to mnke cofn. nge frao, or to havo the coinnge all on the ac- count of. the Government, to rogulate tho weights of pure metal and alloy in the coln- oge, are all essontial to the exclusive power to coin monoy aud regulate the valuo there- of. Theso mattera aro within the discretion of Congress, Docs the discretionary power to regulato tho sizes and the proportions of ench denomination of coin, and to cstablish new denomipations and abel. fsh others, include the power to obolish the colnage of silver, or of gold, or both, altogethor? If Congress havo the power to abolish all silver coinngo, thon it hea oqually the power to abolish all gold coinago, and, if it have power to abolish the coinago of either motal, it may abolish the coinuge of both, Can it rofuse, and by ro- {fusing prohibit the coinsge of money? Ia that not n duty imposed on Congress? It Lins boen doclded that Congress has not the power to lovy a tax on the income of Btate officers derived from the salaries paid them for their ofiicial services, bocauso Congresa might in that way break up the Btate Gov. cruments by depriving the officors of their compensation, Can Congress doprivea Stata Govorumont of the logal money to pay the cost of supporting it Ly rofusing to coin money? Money, and legal monoy, is csson- tial to the Lusiness of Goverawent, as well National as State, Can Congress refuso to coin money, and thoreby doprive tho Nation. al nswell a8 tho Htate Governmont of the only legal means of paying the salarics of its officers, thereby bringing such Governments to o standatill? It Congresa have no power to prohibit the coinage of both sllver and gold, where does it get the power to pro- hibit the colnnge of either? Aloney ex- isted before tho adoption of the Constitution; that money was composed of silver and gold; it was provided that the national monoy should be of milver and gold, and should bo colnvd exclusively by Congress, Tho States had previously coined money, but, to establish a sccnre uniformity, tho exclu- sive power to coin money was lodged with Qongress, and the Btates wore not only pro- hibited from colning but from making any monoy & legal-tondor in poyment of debts excopt gold and silver, Wo have thus stated this poiut, aud leave it to our readers to form their own judgments. The obligation upon Congress to coin woney, and to. coin such mouey of gold and silver, scems to be impurative, and may not ba avoided’ by pro- hibiting the coinage of elther or both metals, In connection with this point we subwit to the bankers and money-londers of New England and of New York that, whilo they moy succeed by corruption, bribery, and other means in defeating tho remonetization of the silver dollar, tho power is loft in the hands of each Btate to wmnake gold and silver coin o legal-tender in payment of debts. If Congress, influenced and controlled by the gold lobby, shall proveut the rocoinage of the dollar of 412} grains, the ouly silver coius fu the United Stutes will be the cheaper subsidiary coin, and it iv in the power of every Btate in the Union to make thieso sub- sidiary and cheapercoius a legal-tender in paymeut of all debts payable in such States. 1t Congress shall botray the peoplo, and shall arbitrarily refuse to obey tho popular will by zostoring the old dollar, it sy be that the State Legislatures will take tho matter in hand, snd givo to the cheaper coin the legal valne denied to the standard dollar. THE CONFLICT IN PARLIAMENT. The reception which the Queen's Messago met in the Houses of Lords and Commons wns not of tho warmost description. It was c.rininly n vexations document in that it did not sot at rest the uncertain and nnoasy feel- g that pervaued both the penco and war parties. Its fault was that it was not decis. ivo, porhaps ovon not significant, Itisno wonder that the Libernl leaders in both Houses spoko with unusual serimony in re- ferring to tho Government policy. Earl Gnaxvinie went so far as to openly chargo tho Premier with having couched his utter- ances during the rocess in a tono of belliger. cnt neutrality, In tho House of Commons the Marquis of HantiraTox acoused the Gov. erument of willfully nssuming the position of {eolation. It was to bo expected that the acknowledged representatives of tho peaco party would hiava n word to say at tho earliest opportunity regarding the Enatern question, and wonld reiterate tho sontimonts of their followers which bave boen herotofora so ofton and emphatically expressed. Dat, con- sidering tho fact that sinco tho closo of the 1last Parlinmentary session no positivo steps bave been takon by tho Cnbinet, nnd that Lord Bracovermztp hag porsistontly maintained his famous reticence upon the absorbing topio of tho- times, the language of Granvirrs and HaRTINGTON Was cortainly bold and uncalled-for. Whatever may be- the privato sentiments of Lord BrAconsFIELD, ho hos thus far carefally nb- ntained from any nct which conld bo con- strned ns o departure from the polioy of nen- trality ndopted and publicly avowed at the last seasion. The tono of Lord GraxviLie’s speech, which may bo chinrncterized as throatening, loods us to the belief that the presont session will bo marked by one of tho most stirring and bitter conflicts of parties that England has witnessed in many a year. As far a8 can be judged, the scales nro nearly ovenly bal- nnced in the two Houses, and it may Lo necessary, in order to arrive st tho sontiment of the publio at large, to dlssolve Tarlinment aud to appeal to the popular ver- dict by a now election, Tho triumph of the Libernls in that avent wonld be tho downfall of the Bracowsrizp Ministry, and oithor HanTiyorox or his colleagua in the Upper Honse would doubtless be called upon to form n now Cabinet. Earl GranviLiz isono of tho few good spenkers in the Homso of Lords, aud i noted no less for Lis good cholco of words than for his command of tomper. He {s now 63 yoars old, having beon nlmosat continually in politica sinco his 21st year. Ife wns Under Sccrotary of Stato during the Mernounse Mimstry of 1840, and was o member of the Russenn Ministry in 1846. In 1855 ho beeame Ministerial Joador in tho House of Lords, and has sinco sorved as Colonial Scerotary and Minister of Foroign Affairs under Guapsroxe. Althongh ho hoa moveral times refused tho post of Prime Minister, it is possible that,in the event of nnother chango of Administration, ho might be induced to accept tho rosponsi- bilities of that high office. Ot course, nll specnlations upon the courso that might ba pursued in this matter by Lord Gaaxvitsie are founded upon a re- mote contingency. It is by no means cer- tain that Parlinment will como to a dissoln. tion, The Promier is too crafty a politician to venture upon tho uncertain result of an eloction. Ile thoroughly understands the art of manipulation, aud ho will bo slow to press to a final issuo the question of pence or war nnloss ho is sure of succoss, To perpet- unto the power of the Conservative party is tho chief duty, politically spesking, of the Consorvativo leader. Besides, as far as can bo gathered from the tonoof the English press in both London and the provincos, it is nlmost a certainty that in caso of n genoral election tho voice of the poople would be for war. WAGES AND THE SILVER DOLLAR, In our notice some days ago of Henator Epuusps’ ** whercnses* on the silver quos- tion, wo left one of them for future com- mont. It was as follows: . Wneneas, The subetantial prosent valno of sll- ver n dullar of 4124 grains belng only §i2 per centum of the valuo of a dollar of gold, it would also bo unjuat for the lnw.making power, by new Iegislation, to compol all private creditors to re. ceave from thelr debtors such o silver dollar at par in payment of pre-exieting debts, and equally un- {us and oven niore criiel o compol the great num- er of citizons of the Unitod States who subaist on tho wages of {hat dally labar to recelvo payment gz‘lla.u ¢ work In money either depreclated or de- This is an argnment unworthy a Sonator of Mr. Epxuyns' logal standing. Gold and silver nre, motwithstanding tholr usos ns monoy, commodities which have from time to timo risen and fallen in tholr values as exchanges for ona aunothor aud as ox. chinnges for othor commodities. When cot- ton was searce, during our lato War, a gold dollar would not purchase mora than one or two pounds of that commodity, though previous to that time the sama coin would have purchissed four or five tunes that quan. tity, Would it have beon fair to havo eaid that the gold dollar was then wortii so much lesa than it had buen for ‘yoars beforo that it wonld be unjv to compel croditors to ac- cept it in poymont of dobts? The silvor dollar in 1878 will purchiaso ss much proper. ty of every kind, excopt gold, that it wonld have purchased when it was domonotized ; tho only thing in which the valuo of silver bas declined is in the articls of gold; ond tho cause la an extraordinary domand, over and above the world's produotion, for 400, 000,000 of gold in exchange for silfer, Ex- copt for gold, silver has os much purchasing power as it evor had. Mr. Epausps iguores the fact that the decliue in silver as com. pared to gold was due to a special cause, temporary in its character, and that as scon as that cause is removed silver will return to ity former relative value, unlessin the mean. time tho scaudalons sct of demonctization shall be mado permanont, The solicitude expressed for the people who subsist on the wages of their daily Inbor, lest they be compelled to accept cheap dollars ond thus be deprived of thelr hard earnings, is creditable; bat it would bo more accoptable if it offerod tho slightest indica- tions of a polioy that would afford relief to the wages cloas and to the producing class generally, 'The afiliction under which thoso who live by the wages of their labor guffor is not that the dollar is not big enough, but that they hove no dollarsatall. The calamity is not one of tho rate of wages, but that thero is no cmployment at auy wages. Workien can regulate thoir own wages so soon s there 1s a demand for labor. Holong a4 thore are two idle mon for each wan at work, the wages of (hosa at labor is re. duced to the minimum, whilo those out of employment aro starving.* When AMr. Ep. uuxps tells theso people nob to accept ailver dollar, but to wait until the gold dollar is increaved 25 por cent, ho forgels tho, bowoly remark that a horio compelled to fast while tho grass is growing may die. A million of idla men, supporting n million of families, with no employment and no wages, living upon charity and suffering from want, appenl to the Senata to romonctize the nilver dollar, and increass tho metaflle money; arrest tho fall in valuos of all prodnets of Iabor and of all property ; give production a new impetus; creato a demand for consnmp- tion and for labor; increase the exponditare for wages; givo omployment to the million of now idlo hends of families, aud Senntor Enpmuxps tells them to walt indefinitely, por- haps for yoars, nntil he and his clients shall liave confiscnted the property of tho country, and brought every manufacturor and other omployer of labor to ruin and bankruptey. 'That portion of his fellow ** citizens who subsist on the wages of their daily labor” who resido in the Westorn Btates understand this question thoroughly. What they want is employment. Lot tha metallioc money, the constitutional coin of the country, bo re- stored; let the motallic curroncy be inflated to whntever oxtent the production of the motsl may render possible; let labor and production increase; lot commercial and finnucinl depression bo replaced by nctivity and tho consumption of productions, and whon these fellow-citizons find omployment thoy will tako caro of their own rates of wages, They will regninte those wages by the size of tha dollar, and take caro to get the full weight, It hes only been a fow yoara sineo the other Senator from Vermont agreed with AMr, SgEraaN in arging o bill to clip the gold coin as to reduce thae voluo of the gold dol- lar to 06} cents in gold aud 94 cents in sil- ver, and to compel nll private creditors to nceept the depreciated and debased money in paymont of debts, and his fellow * citi- zons who subsist on the wagea of thoir dally Inbor " to take the same dishonestly-clipped dollars for their hard earnings., ARl tho wages ¢lass of the country now demand of Mr., Epxunos ia to let trade, nnd commerce, and industry rovive, that Iabor may find cm- ployment, and thoy will take caro of their wages, and of the sizo of the dollar in which they ara paid. M'CLELLAN AS A PRESIDENTIAL CANDI- DATE. Presidontinl candidates are usually bronght ont by their friends. Gon. MoCrLxriaN has trotted lumself out, and his innugnral the other day may be looked upon as an an- nouncoment of his points, for tha considera- tion of tho American pcople, It must be confessed that the exhibition isquite as ri- dienlons as auy that he has previously made, Tho matorinl passnges of his message por- tain to tho finnnces; thorest is only fuss and feathors, ond is not worthy of attention. Lot us look, thereforo, st the financial views of this would-be Democratio cnndidata for the Presidencyin 1880, Gen,McCLELLAN 8aya: ¢ 1t is n duty to express in tho clearest and most decidod terms roprobation of all at- tempta to violate tho sacrodness of obliga- tions, to avoid tho payment of any portion of our just debts, to impalr tho national honor and credit, or to declaro by lnw that o part of a dollar shall bo & whole dollar,” ‘Who says that a part of a dollar shall be a wholo dollar, or wanta it to be? Fonr hun- dred and twelve and a half grains of silver is a whole dollar, and was so fixed by law in 1702, It never was anything else, nover can be anything else, under tho law. Whather at presont that weight of unlegal-tendersilver is worth ns much as a gold dollar of 25 8-10 graius in London, no one carcs, Four hun- dred and twelve and a half grains of silver coined and made legal.tender is just as much o dollar as the gold dollar, and there would be just the same right to tender it for debta, no matter which metal mighit bo the highest in tho bullion markets of the world, and the option in payment is with the dcbtor, whether the dobtor bes the individual, o State, or the nation. Again, this Shylock candidate for the Presidenoy says ho would favor the remonetization of silver to the ox- tont of making it n Jogal-tender in small amounts, provided the silver dollar is made equal to tho prosent value of at least the gold dollar. Equal in what? If thore iato bo an cqualization of values, why not mako tho gold dollar equal to the silver? The silver dollar is the senlor coln. The first gold dollar was not made until 1840, Upon what protonses is tho junlor coin to be mado the inflexible standard with which the silver dollar . §a to be equal ized before this redoubtablo eandidate will favor romonotization? ¢ But,” sald he, it tho proposed moasure bocomes a law by which a silver dollar really worth about 00 cents is doclared to bo a logal-tonder for a gold dollar,in all transactions, values will ngain becomo unsottled,” ote. Does not this New Jorsoy Governor know, ns we have al- rondy stated in these columns, that an ounce of silver to-dny con bo exchanged for moro of any given commodity, roal eatate, all kinda of property, labor included, than it could fivo years ngo, whon It was at 4 preminm with gold? As far as stability is concernod, the valuo of silver has romained compara- tivoly stationary ns compared with other proporty. As o mensure of value it has flue. tuatod less than gold. Itis the enormons and alarmning enbancement of the value of gold that has squeezed out tho values of property, paralyzed the trado of the counlry, and pro- ducod the present distress. If thore is to be a oholce batween the two motals, the poople prefer that motal which most nearly retains ita equilibrium in relation with other com. modities, It is for this reason they want o change and demaud authority to pay their debts in a metal which will remain free from theso abnormal and disturbing fluctuations, This much for the self-announced candi. date, and this much shows that ho {s totally ignosaut of the nature of monoy and the silver dollar; that ho ls a pliant tool in the hands of the Eustern Bhylocks ; and that ha has sdopted for his financial platform the superficial statoments and assumptions of such gold papers as the New York ZTribune and World. Upon this flimsy platform, which shows he knows no more about finance than he did of tho art of fighting succossful campalgus, ho has the assurance to place hiwmsolf ag a candidate for the Presidency, with such a disploy of fuss and feathers and blowing of trumpets as have never before charaoterized Presidential aspiration, This doughty warrior, who always kept things quiet on the Potowmas, evidently thinks that ho is going to carry the country with him. As the representative of the clique of money- grabbers and Bhylocks, he expects to carry the Past. Asa military candidate, ho confl. dently expects the Bouth to requite him for tho services Lie rendered that section n the War of the Rebellion by striking them %0 03 not to hurt them and by manag- ing to get sufficiently well beaten him. self to build up the reputation of Bouthorn Gonerals, As tho horo of dofeat, he caloulstes upon Bouthern popu- larity and sympatby. In taking time by the forelock to announce himuelf and elbow the ancient Usufruct off thetrack, hobas omitted to considor one important condition of the situntion, and that is tho nttitnde of the ‘Woatern Democracy. 1t thero is ono thing more certain than anothor in the political future, it Is that the Westorn Domocrata will not allow the East to dominate or dictate to their next Convention. Gen. Towu Ewxa, in hin rocont interview, gave voice to West~ ern Democratio sontimont when ho said : # Wao can carry the Btates of Ohio, Michigan, Indinns, and Wisconsin on the Western ides, and clect n President withont the aid of the East. The Wostern and Bouthern idon is bound to prevail in the next Convention. What the East will do under the ciroum. stances romains to be seon. Why, wo can no more carry the Btates of Ohio, Mickigan, Indiana, and Wisconsin ona plan satistactory to tho Eastorn Domoorata than we con fly. It is out of tho quostion.” 'That small patch of territory known sa New Jersey, or the Democratio part of it, has wasted 1ts domon- stration over its Governor, Ho may havo takon the platform out from under the feot of TitpEx, but the Western Domocrats will tako the platform cut from under the feot of MoCreruan, * It in ont of the question.” THE POPULAR FUNDING BONDS, Tho rocent order of tho Hocretary of tho Troasury, withdrawing the negotiation of tho refunding bonds from the handa of the Bogdicato and providing for a direct popn- 1ar subscription, is astep in the right direc. tion, and good as far as it goes. The tronblo is that the advantages which would otherwise naturally resnlt from a populari- zation of this loan will bo defeated by de. focts in the law. Becretary Bmznmax has put as liberal n construction upon the Inw as was possible. The offer to pay 4 of 1 per cont 1o bankerson subscriptions of $1,000 and more wounld be an inducoment for bapkers to mako large subscriptions and parcel them out in $50 and upwards to the publio, thus grently facilitting and acceler- ating the salo of bonds, if thers were a pop- ular domand, but for two reasons: (1) No bond less than $50 can bo issuod under tho suthority of tbia law, and (2) gold or its cquivalent is demanded in oxchange for the ‘bonds, The first objection to the law—the limita- tion of the bonds to $60, $100, §500, and $1,000—would not of itsolf entiroly dofeat tho purposo of reaching the people directly and gonerally, Thismight be offsct to some cxtont by tho bankers, who would sccept deposits smallor than 50 on account, and issue cortificates convertiblo into bonls when thoy amounted to the requisite sum, Never- tholess, n popular bond should have de- nominations as small as $10, in order to an- swer tho demand for o Govermental sub- stitate for the private savings-bank system, and in order to attract tho ** savings " of the conntry, which are made up of small sums from timo to time, into Government securi- ties. But this ond can only be attained by law, and in tho meantime Secrotary Saenuax has dono what he could with his hands bound, But the fatal defect in the law is the requiroment of gold in subscriptions, In this rognrd the Secretary has also done what he could by ordering the Treasurer, Bub- Treasurers, and baokers to recoive called bonds in exchange, coupons maturing within thirty days, and gold certificates; but, so far as tho schema Is intonded to bo a popular loan, the gold requiromont is an insurmount- oblo impedimont, Every transaction that is made involves the changing of current funds (which ia all the average subscriber has) into gold, and this involves confusion, delay, and “sliaving,” It is a process which it will bo difficult to cxplain to that class of porsons who would be inclined to make small sab- scriptions, and in noarly every case it will defont a subscription in o small amonnt that would otherwiso bo mude. The bonds will nover reach the masses so long as this con. dition is rotalned. To make the Inw opers- tive, and equally advantagoous to the Gov- ernment and the poople, these bonds should bo sold for lawful moncy. There is no danger that thero will be any loss to the Government from offering these ‘bonda in exchango for greonbacks, which aro now within 2 por cent of gold, exceptin caso resumption shall bo attempted on a singlo gold basis. This wo disniiss as a fore- gono conclusion. The bonds aro payable under the torms of the law which suthor. izes their jssuc in the atandard of July 14, 1870, which is silver and gold. ‘The remone- tiantion of the silver dollar is all that is necessary to make them practically, as woll 08 theoretically, payable in silver, ‘There will be no loss to tho Covernment in selling theso bonds in open market at par for green- backs with this prospect in view, and such a disposition will mect with the most abundant success, ‘The savings of the country, in the presont distrust of banking institutions, will flow into these bonds at a rapid rate, There isno danger that poople will be deterrod from investing in them by reasonof their being payable in silver ns well as gold, for the silver dollar romouetized, thus having all tho legal-tonder value of the greenback in sddition to its own intrinslo value, will olways be worth as much na the greonback dollar, which will be simply a noto redeem- able in silver, Nor is thore any danger that the open markot will suffer by being drained of its curronoy resources in case large amouuts of greonbacks shall be invested in those bonds. ‘The greenbacks will come out again immedi- ately, Thus it one hundrod millious of groonbacks were put into the new bonds, thesa greenbacks would be fmmediatoly sent out into the country to buy gold, and o proportionate amount of the old bonds would ba called in and pald off; or, after the remonetization of silver, thogreen- backs thus obtained would bo exchangod for silver touse in paying off the called bonds. The law to make a popular 4 per cent loan & success should include (1) an issuo of bonds in denominations as low aa $10, with proper facilitios for making deposits to that end; (2) the offer of these honds in exchange for lawful money, which would include green- backs; and (8) the prompt remonetization of silver, so that the bonds would be actually payable in silver as well 83 gold, as the law really provides by making them payablo in the standard of July 14, 1870, But these matters aro beyond the reach of the Becre- tary of the Treasury, whatover his inclination might bej; itis the business of Congress to provide the necessary legislation. Harper's Weekly inslsts oo tho single gold standard, and has froquently denled that the silver dollar was demonctized susroptitiousty or unkoown to Congress snd tho country, Butit appears from Hurper's own flles that nobody about that concern bad the faintest copception o8 late as Jan. 9, 1675, that sliver had been demonetized. In tho lasus of that dste Nasr illustrated the Orst page with a plcture which represented tho ark of State flosting to- wards s distant peak, just showlng above tho watcry waste, on which is Inscribed © A Sound Specio Basis—UoLp A¥D BiLvEn,” whils above gleams the bright ralobow of *Our Credit.” ‘This, recoliect, was on tho 9th of January, 1875, nearly fwo yeara after Dr. LINDERMAN anid his gold coconapirators had sncaked tho fraud through Congress, and up to that time neither ‘Tos NasT, nor Gronos WiLLIAM CunTis, nor EUGRNE LAWRENCE, the thres editors of that publicatton, had yet an Inkling of what tho anti-silver conspirators had accomplished. Yet we arc told by the checky Natlon that every- body kncw all abont the demonetization object of the bill long before it passed Congress! We have ropeatedly asked tho NVaffon to reproduce some of tho editorials that appeared fn its own columns between 1870 and 1875, cxhibiting knowledge of the intention to discredit siiver os legal money, or kunowledge that it had been done until long after the date of the demonctiz- Ing act. Tho Aatlon chooses to Ignore the re- quest. ——— Since the famous hoax perpetrated by Jom Howanro In {ssuing a bogus 'residential proce lamation, thers has heen nothing in that line cquallng the recent fatse report concerning the sulcide of Osmax Pashs. It happoned In this wise: A correspondent of the Ruastan Golos newspaper, happening to be {n Londona fow years ago, concoived a disliko toward Mr, Dis- RAELI for somo reason, and sworo to have is revenge, The opportunity did not arrive unti) afow weeks ago. Helnzat Plevnn, and having many facilities at his command, he causcd the followlng telegram to be transmitted shortly after tho faltof that fortreas: o the Premler of England: Osxax Pasha, In pain and meclancholy at his anrrender, and his :’l;lrlmi depresaing him, haa rashly potsoned him- The dispatch reachod London in the after- noon, and of courso shocked Lord BeAcoxs- rIELD greatly, and he communieated the con- tents to several fricnds, including bis private secrctary and fuseparable companion, MoxTaau Connry, Now, os Is gencrally known, the Dally Telegraph 1 the most enthusiastic Turkish organ in Londou, and Is looked upoa thero as the special inouthpleco of the Premfer. 1t has even been shrewdly surmised that the managers of the Telegraph have been glven information on different Government toples directly from Lord BeaconsrieLp, However that may be, it 1s certaln that on tho evening whon this dispatch reached London Mr. Moxtaou Conrnr drove down to tha Telegraph office and had an fater- viow with Mr. Lawsox, the chict editor, and that the next mornlng's paper contatned not only thonews of the sulclde, but a lengthy editorfal davoted to a culogy of the prowess of tho departed horo. To add stiil further to the entanglement, it scems that the telegraphic medium leaked between Bucharest and Londen, and, notwith- standing that the dispatch to BmacoNsrixtp was & privatc ouo, REuTeR's agents got hold of the news and it was sent in brief shape to all the Londun papers, but atso late an hour as to preclude sny comment. Truly, the Golos corre- spondent had his revenge. e ‘The Rev. Joserir Cook, of Buston, wants to know ,tnls: *Shall the nation pay its debts honestly, or swindle Its creditors?”” Theanswer to this question depends upon knowledge and information. What do the debtors owe! What aid they borrow! What kind of money aid they recclve! In what kind of money did they promise to ropay! We take it for granted that the Rev. Coox is sufllciently fnformed to know that the Government recelved greenbacks and ank-notes worth in cofn 33 to 00 cents on the dollar; and that ho knows it promised to repay the Joan in “lawtul monoy™ mod In **coin’ e knows, or onght to know, that coln Includes slver and gold. Iicought to know coough to know that tho Governnient never promised to pay its debts In gold afone. Ifo must ace that for the present conductors of the Government to undertake to pay tha public debts exclusively In gold would be dishonest towards tho tax- payers and a gross awindlo on the people. For tho natlon to pay {ts creditors honestly is to tender them silver or gold st the option of the Government, To tender them gold only, be- cause It Is dear and overpriced, 1s to rob thote ‘who have to pay tho reveoues. N Covent Garden In London {s owned by the Dutlce of Bedford, who has steadfastly refused to (ntroduce any.modern Improvements {n tho way of now buildings, although ho has had many advantageous offers from enterprising tradesmon. The market in the contrs of the square Is compuscd of tho same tumble-down, ugly-lookiog structures that have ornamented the place for tho last century, while the queer old hotels with their massive porticos occupy tho northern sido of the road. But Covent Garden {s slways Intorosting, Thero are to bo found the rarest flowers and fruits from every quarter of the globo all thoyear round, Chrfst- mas Eve thescene was unusually “sttractive, Buch vast quantitics of fowers had been brought in that Floral Hall overflowed, and the corridors of the market bloomed from one ond to the other. Tens of thousands of people came from every part of the metropolls to sco tho wonder- ful dlsplay, which has become aunually ono of the sights of the town. ——————— 8t. Louls is cnjoying its own rrligious contro- yersy, aside from tho great question that has been agitsting the ministers in other parts of the country. Among the facts clcited by the trouble in our nelghboring villago Is that thero are now no less than 154 differcnt sccts in En- giand alone, Acvording to oue correspondent, there aro still people in England who believe in the rude fanaticisin promulgated by JoaNNa Boutncorr, and await the coming of a sccond Bhiloh. It has besn supposcd that this scct had becomo oxtinct, SouTuCOTT was & domes- tle scrvant who, at the age of 40 years, became tmbued with the idea that she had a mlssion, sud began to prophesy in rudo verso and prose. In the courso of timo, as was patural, some of theso prophceies bappened to he fultilled, and her famo was spread abroad widely among tho ignorant classcs. At the time of her death, fn 1814, she haa no Jces than 100,000 followers, and cven o Jate as 1837 thero wero four churches which professed hor belicf. e ————e An expensive lot of children wero lolt by the Iated. W, Cuanran, of New York. His wife was n grand-daughter of WiLLiax B. Aston, and {nherited from him & large property, whilo Mr, CuansLER hlinsclf was possessed of & com- fortable amount of this world's goodls. ‘lhe holrs are ten In number, all under agc, and the cxccutor of the cstate made applicatiun in court the other day for an altowance of $50,000 a year to support thom, Of this aum $29,000 is. asked to keep up tho establishment in which tho six youngest children are living; $1,200 for the schooling of another ous; §10,000 for thoso children who are attending school in England; and the rematuder is to be used In traveling, waterlng-place cxpenses, and tha like. ————— Tbe clauss o the Consoltdated-Mint bit! stopplog the cofnsgo of sliver dollars was fur- tlvely luserted; not one member of Congress n flty knew of it not onc man 1o tho thousand outside of Congress kuow sanything about it. But anywsy, Congress has as much asuthority to order the sllver dollar to be again colned as 1t hadt to direct the colnago to be stopped. The colpage was stopped without the knowledge of Covgreas or the coosent of the people, but Cone gress is now requested by tho vast majority o bave tho colnage recommenced. Can tho Shy- locks provent i1 ———— - o ::'l' o ‘\‘;n:’l':)lfl ngfl' cont. —Freas dupatx “This {tcm of news is rather too bricfy stated consldering its Linportance. It is excoedingly questionsblo whetber this advanco will incresss tho receipts of the Compaoy. While they will ot one-flith moze for wessages they transmit, masy thoy not cut down the quantity of business offcring fu & greator ratlo? - ————— ‘Tho part that wownan’s work {4 to bhave in the Paris Exposition 1s & mattcr of very great fmportance. Of course, no such graud affalr can bo got up as gave so much fntercst to our Countonnial last yoar; but,.if under proper direction, much could be dono %0 produce & marked effect upon tho visitors at the French Capital pext summer. By tho law, Gov. McCoaMick can sppoint caly tweaty Com- missfoners, and. wo think the ladles of thy country are exceedingly modest when they aax thnt only ono place bo given to them. 8o far gy known, the lady who has had tho unanimong recominendation for the position by the President and Directors of our Centennial g Mrs. E. A. Catpwrit, of Philadelphia, Ifer experience of Jast yoar, her great intellizence and courtesy, her executivo ability, and the carncst support of thoso who hest underatang her qualifieations, maks a very strong cassly favor ot her appointment. —— Tho California Legislature Is after the little Chinaman again. A blil has been Introduced ohliging nll persons desirous of oxhuming an Intorred body to obtain a permit from tha Mayor or Boord of Health at a cost of 816, ani requlr. ing tho inclosure of tho remains in n metallie case, This lsatmed at tho Chiness custom of returning the bones of their countrymen to the Flowery Land, The 8ix Companics wiil thuy L taxed nbout §60 for overy dead Clilnaman, The defaulting Treasurcr of Quebee, Mr, Louts Dortow, 18 n man of excellent family, his brother, 8lr Axtorxa Donios, belng Chlcf. Justice of the Court of Queen's Bonch of Lower Canada, Ho has been Treasurcr of Quebec for twenty years, and, though knawn to ba addicted to the flowing bowl, no ono has ever questioned his honesty. Hia cldest daughter fs reckoned one of the most beausiful women in Canada, e —e To stand by the contracts and promises of the Government in the Coln act of March 13, 1809, and tho Rofunding nct of July 14, 1870, Is called “dishonest ! by the 8hylock class. Itis *‘making war on public credit,” they say, te live up to those laws, and thoy cry out that they will bo robbed and swindled unless they arc patd 11 gold alone. When did the peoplo ever sur. ronder their optlon to pay debts in sllver? ——— The goldites are ravenously desirous of hav. ing an exclusively gold dollar worth 110 cents, Nothing will satisfy them except 110-cent gold dollars. They want everybody to pay up their Ti-cent greonback-loliar debts in 110-cent gold dollars. All those who aro opposed to thishog. est.(1) demand aro put down In their * black list " as “‘repudintors,” *‘rascals,” onemics of the * public credit," ote. L —— The Chleago Témes, in a lone article on the new King of Italy, went upon tho assumption that IluMpanrr wasagood Catholle, and that horeafter tho relations of the Church and the Kingdom would bo harmonious. But it hap- pens that tho now King HusnenT is an athelst, The Zime fell fnto the error of mistaking Princo Hounmur for his brother, the Duke of AosTa, erstwhile King of Spain. — ——— 8ir WitLiaM BTiRLING-MAXWELL, Whose denth was announced In a cablo dispateh the other day, was tho husband of CaARoLiNm Nontox, ono of the trio of BHERIDAN'S grand- daughters, whoso beauty gave thom the name of *'khe ‘Ihroe Graces.” Tho other two sisters married Lord Durrrnin and the Duko of Bomerset, and thelr misfortuncs wero as great as thelr aingular loveliness. e t— e Tha membors of tha United States Benato act yery much as a mutual admiration socioty. They aro taking thiugs mjghty casy: they draw thelr pay with great punctuallty; and, with ths excoption of an occaslonal speoch on tho siiver question, about the only thing they do ts to adjourn. —— To the Edilor of The Tridune, (uicao, Jan, 18,--Can you {nform mo of the amount of specie in the United Statos Treasury, June 30, 18571 Inquinen, The amount of specio held in 1857 by tha banks and United States Troasury was $73,000- . 000. The amount hold by the Treasury alope 1a not given by any accessiblo authority. —— The new London paper, The Week, will makae aspecial featuro of American news, having ar- ranged for rogular correspondence from New York and Washington. Anierica has never been fairly ropresented in the news columns of the London pr s —— i i The cry of the Bhylocks is: * Give us110- cent dollars to repay tho 78-cent dollars we losned, If you don’t, you will ruln tho public credit,—~in our oycs,—and wo shall sct youdown as swiudlera ! | Boston need not put on 8o many alrs; {u the month of Docember that town had Gfty-two faflures, with liabllitics of 83,107,000, | Mrs, SwisaneLM's savage attack upon panta- loons reminds onc of the anclont fabla of the Fox ana tho Grapes. | Lot every man pay his debts in 110-cent dol- Jars If he dealres to rotaln the good opinlon of tho blood-letters. | Pay what thou owest in 110-cent dollars, e ——— PERSONAL, Proctor Is Enott a Senator, John Morrissoy is nbout to pass In hia last chip. Tennosee also has & female Stato Libra. rian, Tob Ingersoll says that Chicago is narrow and prieat-ridden, Poor Mr, Beechor's salary is now only $15,000 a year, A pretiy widow in Missonrl gouged out tho oyo of & young mag who wunk at her. A thoatre.goer in Now York suggests that Fechter and Modjeska ploy together in ** Camilie.* King Hunbert's mustacho looks like o roli of hair from the padding of & venemble casy chatr, At the funoral of Honry Melggs, in Peru, 200 carriages snd 20,000 pcople made up the pro- cesslon. Miss Emily Falthfull has mado success of her Victorta Magasine, contributed to, edited, snd wholly set up by women. Members of the * Bhaughraun® dramatio company quarrcled with a conductor on the Fepn- aylvania Kallroad, and two of (he actors gusrded the doors while John A, Mackey, the star, whipped tha oftictal, Spurgeon in & recent sermon deplored the provalling inddelity of tho age, remarking that clorgymon wero not afraid to profess principlos which formerly only the most dazing athelsts bad the temerity to avow, Mra. John Drew has taken the initiative fn acceding to the popular demand for lower pricos at the Philadelphis places of smusemont, & ro- dactlon of 50 conta haviog been made on orchestra chalrs at the Arch-Streot Theatre. The most interesting bit of litorary news given to tho public for some time is the announce- mentin tho New York 7Zimes' Loudon fetterthat Qeorge Ellot has begun a new work, and will have it in the printer's hands before the end of the yosr. Alme, Pattl recontly mads her first appear- ance {n Florence for ten years in tho **Travists.” Sho was oceived somewhat coldly, and without the nsaal complimentary salute of applause, but ot the ond of the irst act had completaly won her sudience, who burst out nto **bravas, " and gave ber twa recalls. The Japaness will arrive in Parls next month with the bouses for the display of their goada all ready to ba pat tozether. The bulidings will fnclude & tem| od two houses. Tho plans have beon seen in Parls. That of the temple 18 veryrich. Tho facade s formed entirciy of & winged dragon io red lacquer, Ben: Perley Poor writes from Washington to the Boston Journal: **When I frat camo here— forty-nine years ago—It was 8 guod week's Journey from Newburyport to Washington, Now tbe Journey is made in Jess than twenly hours, wits oaly ono change of care at Baston. Towices week Pullman sleeplug-cars are run from Bostoa directly througn to Mavannsh, tho gaute of the whecls beink chsnged from four fect eight and a baif fuched (0 five fect at Wimington, N, The care fud through twelve States and the Diatrict of Coluiwbis, pasa over the ralls of nineteon dlatincs corporations and traverso 1,144 miles. Tho fare s rather g aud thera bre some minor comforts wanting, but this New England lina s aevestheless a combors 0 travelers.” 2