Chicago Daily Tribune Newspaper, January 21, 1878, Page 4

THE CHICAGO TRIBUNE: MONDAY, JANUARY 21, 1878, tional Church, contends for the doctrinaof an unending Hell as taught by Cnnist and the Apostles. Dr. Rrpen showa how tho Uni- versalint belief has changed within the past fifty years from the idea of no-punishment in tho world to come. Prof. 8wino points out the passego end advance of religious belief from tho shadowy snd figurative to only one in which the genuine frionds of ver remonotization and tho donble standard aro interested, whilo it is evidont that Mr, Voonarzs has simply mado it the protoxt for urging his hobby for an unlimited inflation of irredeemablo paper onrrency and the Pan- dletoninn theory of repudiation. Tho real- fzation of tho silver movement would be de. Tlye Tribuwe, TERMS OF SUBSCRIPTION. A1D. 3:0 | thie real and practical prived of the benofiea expected from it if Mr. “‘28 y et —— Voornees' vagaries woro carried ont, just as * The unfortunals bondholders of tho North. surcly ns it won!@l beif the silver dollar, when remonetized, shonld be overweighted with metal at tha prosent bullion value, and thus be driven out af practical use as money. Tha real silver mon do not demand the nn- conditional repeal of tho Resnmption act. ‘Whether or rot the date for resumption shall be postponed ia & matter of expedioncy to be dotermined after silvor shall have been ro- stored, and. after it shall have been ancertaln- ed how mauy silvar dollars can ba coined with which to-mnke resumption practicnble. Tho reatorhtion of tha milver dollar is demanded prima'dly os o moans to resumption, and bo- cause its advocater boliovo that resnmption in gald is fmpossible, and that it would bo -oppressive and unjnst oven if it wero possible. Dat the boneficont efects of silver remonetization will only bo fully felt when resumption sball have been cither nctuaily Accomplished or regarded as n fait accompli. "[lie Indetinito postponement of resumption and unlimited inflation of a paper currency (practically Irredecmable) would lesve silver ns useloss a8 n monetrry ngont os gold in now, and tho efforts in behalf of romonetizn. tion would bo thrown mway. What is wanted ia the solid, substantial, hoalthful, invigorat- ing onlargement of tho moncy resources of the nation by adding tho presont stock and futuro yiold of silver todts legal and intrinsle currency., Tho roal silver mon do not want the Na- tional-Banking systen: abolished, beeauso thoy nro satisflod, for tho wmost part, that it furnishes tho safest and beat papor enrroncy this eountry has evor had of is over likely lo have. Onthaeotherhand, onoof themost effect- ive nrguments in favorof remonotizationisto ba fouud in the fact that tho restoration of tho silver dollar will furnish the banks with an enlarged supply of logal-tender money ns rosorves, and will persande them o enter upon o moro liberal policy of issuing circus Inting notes under the 1roc.Danking act than thoy dare adopt undor tha present conudi- tions. It is n notorions fact that the Nation. al Banks thronghout the country ‘have been contracting the volumo of their cireulating notes mara ond more every year for the past three or four years. Many of them havo reduced theiircirulation to tho minimum allowed by the Jaw nunder which the Nntional Banks nro ojserated. Lhis in- clination has provailed, pai'tly beeauso thero has boen no profit in circulation at the high prico of bonds nud under £ o opprossivo re- striction of requiring a dep.osit of $100 of Dbonds for 590 of circulation, aund partly be- couso of the prospect of "belng compelled to redcom the National-Bank imoves in gold alone. Tho snccesstul and judiclous remon- otization of silver will add § 200,000,000 or £1100,000,000 10 the legal-tendler suoney of tho country within o sbort poriod; tho re- sourcos for raservo purposes will Lo en- Iargad; tho bills recaivablo and othior assols of the banks will be enhanced in viilue; gonoral confidonce will receivo a now impnlse; tho {ncubus of cxclusivo gold rosum; ytion will bo removed; and tho banks will geadually en- large thelr clroulation, and thus add to tho moucy-resources of the country. . The real silver mon do not want- tho country flooded with irvedeomablo’ green- backs, nor do they dosire b thess irredoomablo greonbncks shall Lo nde recoivablo for dutics nnd payabio for all dobts, public and private. This means simply that all the Govarnmont bonds shall bo patd Iu greonbacks, Loth Jn. terest and principal. Honco it fnvol ves tho absurdity of paying off interest-bearin g obli~ gations with non-intorest-bearing noter, ond is simply equivalont to o man's taking u p his own noto, which draws ( per cent into.west, whenover it becomes dune, with another nwto boaring no interest snd paysble at ‘wo definito time in the future. All this quus- tion bas bedn discussed safficlontly; intell™ gent peoplo long siuco beeawe nware of the sophisiry of the proposition, snd it 1s folly to incumber nnd confuse the silver question Dy revamping it. What is demnnded is tho original and vonsonable right of puying debts, both publio and private, in winy— which moant at the timo of the pledge, sud should mean now, silver as well a3 gold. Mr, Voonnees and others liko him are do- ing the movomont for the remonetization of gitvor all tho injury they can Ly luggiug In their exploded fallacies. ‘Thoy furnish the gold-bugs the exouso for donouncing the silver movemont as a fraud and swindle, sud wEEK X! Onecopr, perye $ 1.30 T oF Folir, it Bpeciatn coplen rent 1rve, Give Post- Oftce address in foll Including State and County, Teemtteances maybe made either by draft, express, Post-Oflice order, or fn regiatored Ietters, At our k. TEAMS TO CITY SUBECRIBE! Dstiy, delivered, Bunday exceptrd, 2% centa per wesl. 1 8%y, delivercd, Eunday lacinded, 30 conis per week. Address TRE TRIMUNE COMPARY, Corner Madison and P'estborn-sts., Chicago. n. Otders for {he deliveryof Tnr TRISUNE 8L Kvaustun, Toglewahd, and 1iyde Pork Jeltin the codnting-room wilizecelve prompe sti TRIBUNE orn Pacific Railroed, who are beforo Con- gross with a reasonable plea for an extension of “tho time in which they may construct their road, have met n new and -formidablo enomy in tho lobby reprosenting tho Cen- tral Pacifio Company, which is working with might nnd main to doefeat the oxtension monsuro bofors tho House Commitiee. The Northern Pacific ‘peopls, whose aMairs wero thrown into almost hope- less confasion by tho suspension of Jar Cooxr & Co., and who have already com- ploted a fargs portion of their line, ought not to bo crushed in their strugglo for life by the powerfnl inflnence of one of tho rich- ont corporations in the world,—n corporation without a soul, and whose only jutorest is to provent the competition which tho Northern Pacifio would create, a8 well aa to secure the patronnge of that portion of tho far North- west which would naturally fall to the lot of that road, FICES. Tz Cuicaco Trinnixm has estsblished branch offices for tha teccipt of subscriviions and adverilicmenia a2 follows: NKW YORK—Room 29 Tvidune Bulidine. F. T. Mo- Fanoxx, Manager. I'ARS, France—No. 1 Rue da Is Grange-Datelfere. I Mancxn, Aget LONDOY, Fi AMUSEMENTS, Tlosiey’s Thenire. Rendotph ateeet, between Clark sud Lafalle, Engsgement of Itobson snd Crane Combination. **Our tween tho Prosident and the Senate Implaca- Dachetors.” bles bas not all beon writton; here and thers a dotached scrap becomas public prop- orty, and littlo by little the facts aro mado koown. It has just loaked out thatan nt- tompt was mado o form a combination with the Detnocrats for the defent of tho Gabinot appointments, Senator Eatox, of Connecti- cut, wns the humblo instrument. said to hnve boen celocted by Sivox Oamgxoy and Mr. CoxxriNg to notify tho Domocratio caucns thnt tho lattor were ready to striko a'bar. gnin, and he porformed his mission to the oxtont of communicating nproposition which contomplated the formation of n faction for tha dofent of all tha Cabinet nominations not ngraesble to the Implacables. The story goes that Mr. Earoy strongly favored tho movoment, but the Southern Senators were solld sgainst it, the caucus voted it down, and, tho requisite Lelp from the Domocrals uot being forthcoming, the plot failod snd the nominntions wero confirmed. Subse- quont ovents have tended to confirm the truth of this early rominiscence, nnd to show that this was not the last and only attompt made to socuro ald from tho Democrats in fighting the Prosident. MaVicker’'s Theatre, Mudison strect, between Gtata snd Destborn. ** All the Rege,” tinverly’s Theatre. Monroe street, corner of Dearborn, Esgagemientof Frank S, Chanfrau. **Rit" - Colisenm Novolty Theatrn. Clark atreet, between Washingwon aod Readolph. Vartety performance, Tlershey Blusic Hall. Madieon streel, between Ktate and Ilestborn. Cone cert for Lbe Benadt of tho Foundltngs' tlome. MONDAY, JANUARY 21, 1878, e —_————————— OHICAGO MARKET SUMMARY, The Chicago produce markots were stesdler Saturday in grain, and weak on provislons, Mess natk closed 2%c per brl Towar, at $10.85 for Feb- <uary and $11.004311. 0245 for “T“. Lard closed Gc por 100 1ba lower, at $7.40 for February nnd $7.46@7.47% for March.: Mests were %c lower, at 4c per B for boxed shonl- ders and HMo for do short 7ids, Whisky was “easfer, at $1.03 pee gallon. Flour was tame. Wheat closed !ic lower, st $1.03%; for January and $1,03% for February, Corn cloaed ¥c blgber, at 40%c spot and 40¢ for February., Oats closed slesdy, at 233¢ spot or seller Febraary, Ryewaa steady, at Blc. Darloy closed Hc higher, ati2ifc usked for Fobroary and Bic for March. Togs were casier, closing at $3.85@4. 10 per,,100 s, Cattle wera nominslly eteady, at $2.G0@4. 75, Sheep were guict, ay $3,00@4.60, Tho packlng record of Chlcago Includes 1,880,558 hogs since Nov. 1, acalust 1,305,807 for tha ssmo time 8 yearogo, IRccelved tn this city laat woek: 84,963 Urls floar, U41,4U7 bu wheat, H71L, 504 ha corn, o > bi 0ats, 41,050 bn Tye, 148,163 bu bariey, dresecid hogs, 175,278 llve do, ana 10,254 Inepected into re 1 this city Salurday 21 cars wheat, 162 cars corn, 07 cars rye, 74 cars barley. Tota), (40 cars, or Ono bundred dollsrs-in gold would 214 In greenbacks at tho close. Tritlsh o quoted at 0390-16 and sterling ox- ot Events in tho Eastorn part of Europo indi- cote tho probobility that an armistico will be arranged and tho terms of s permanent pence virtually determined before England wnkes up lier mind what to do nbont it, Al- ready a fresh envoy lng been dispatched from Constantinople to the English plenipo- tantiarios? now conferring with tho Grand Duke Nicholas, with suthority to onlarge their powers and onable them to cousmun- ninte tho nrmistice negotiations without further instructions from tho Porto, It is uaid that the Ottoman Grand Conneil, losing all patience at tho pacific and haiting tone of tho British Government manifeated at the oponing of Parlismont, and convinced thnt no help i to bo expectod from this ronrce, will coolly throw England overboard and make the best bargain possiblo with Russia, independent of any outside intor- ests, Ruusla ia reported to have hastened tbis resolve Ly insisting on tho immodiato oo~ ceptance or rejection by the Porto of the torms upon which o snspension of hostilities will bo granted, and tho dispatches denoto a willingness upon tho part of Turkey to ac- copt the conditions and securo peaco at any prico. THE TRUE AND FALSE FRIENDS T0 THE BILVER MOVEMENT. Thero are two clnsses of professed friends of the silver dollar who are covertly and hypocritically dofng tho cnuso all the damago thoy can by loading it down with thelr sophisms nnd vogorics, One class conalsta of thosa who protend to favor tho restora- tion of tho silver dollar, but inslst that * it shall contain a dollar's worth of sllver,"—by whick thoy mean {hat the weight of tho gilvor dollar ehall bo dotermined by the present bultion valuo of silver in London es- timated in gold coin. This ia begging the whola questiou, sinca tho domand is based on the nssumption that gold lu the ounly money, and that s silver coin must e treatod as so much whoat or pork, aud weighod ont in gold values. Now, *‘n dollai's worth of silver incoln 8 just 817} gralns of pure silver,—the old, historical standard,~—and it might bo clalmed with equal propriety that % consols chanygy at §4. HUN. In Now York on BSaturday greenbacks ranged nt 93}@98). CrroraTua's Needlo hins crossed tho Bay of Biseny, from Ferrol, andisnow on tho nearly solid aud reliabla bosom of tho Thames, bo- low Loudon, . MugnTan Pasha, notwithstanding the do * fents which bo lately suffered in Armenis, lius been appointed to thochief command of the Turkish forces which are now to guard Constantinople. As it is very probable that BSurennay Pasha will 1nake no stand west of . tho famous cily, the Christian fest of driv. ing tho Turks back into Asia, conceived so many times during o thousand years, scems remarkably near a full consummation, that they are unable to corroborato the state- ment msdo in the British Bino Book, that a Russisn parlementairo had appeared in Bul- garia ofticially annonncing an armistice. i 'This very romarkablo discropancy in the Ministorinl uttorances of tho two nations seems only another willing botrayal of an in- clination on the part of Russia to cough down poor Jony BoLy, and seat him on a bench so far back that he can give nofurther trouble in the meeting. e A correspondont, writing from the motrop- Loliy of the Black Hifls, in a letter which we _print this morning, gives a sketch of the {dovelopment of tho mineral resources of that - acgion, which will be found to contain facts land statistics of goneral intorest, Oapital, the ono thing noedfal to thoroughly develop {the hidden trongures of the country, has $° M‘B“l\(} ‘lzl‘"{“ “fi::ol?alnbo ‘od“‘;: thelr own vagnries, if carvied out, would de- found its way thdther to an extont that wonld bu‘l}lon ‘_{““o “; Silver cui‘x‘:. Those feat all the advantages which o legitimnte scarcely be thaught possiblo within the two years that havo olapsed sinco the incoption of tho Black Hills excitement, and thero is room for more, and with it room for that class of labor which is condent with moderate ,results, remonotization of tha wilver dollur will pro. who inslst upon this proposterovs mothod Tids. for remonotizing silver aro really dolng what thoy can to bring about a pormavent de. mouotization of silver, since a silvor coin of thin exceasive weight and value would not circulate by tho side of tho chonper gold coln, 'The other closs of Jgnorant or hypocritical advocates of silver remonetiza- tion counsists of thoso who muko the sflver excitewont n mere expedient for Lringing their ropudiation hobbles to tha foreground, and thoy thus put the legitimato silver wove- ment into disropute, Jndging from Mr, Voonueks' recont speech iu the Seuate, ho ropraseats this class of persouy, and bis ut- torances will furnlsh the Now England Shy. locks nad the Now York sharks with a quasi- justification for their asnersions ou the masses of tho Western, Middle, and Bouth. ern States who nre demauding the restora- tion of the silver dollar, Iu the counde of his Senate speech, 3lr. Vooruxxs sald that he representod those poople who demaud the following tinaucial legistation ; “Tho restaration of thi ver dollar ex. i stoud bufory 1t was touched by the act uary, 107, They dosire that it ehail b THE WAR. The end of the war as betwoen Russin and Turkey daily grows nearer, aud tho policy of tho Czar begins to be spparent, Adrinnople bas fullen into Russion Lands, aud the Turks aro falling biack in disorder upon Constanti. uople. Tho Iussian army is ndvaucing rapidly towards the Imperiol City, aud tho Czarowitel's forces and Gen, Zniurmaax's corps in fho Dobrudschia oxo also in suotion, It i3 evident from this that the Czar lutends to nama the torms of peace in Coustantino. plo, and it is iutimated thot' after the tenne ara sottled upon n grand roview of the tipops will tako place in thoe city, aud thyt they will thien roturn through the Bospliorus aud- the Black Sca to Russia, evidontly with the Turkish feet for transportation. It ix also evident that Russia Is bent upon making separato termw, without reference to the other Powers, What those tevms may bo it would be promature (o divcuss,—perhaps even useless to epeculate upon. What they ought to bLo, however, is clear enough. ‘Turkey should be partitioned off in such manner as to wipe Ler out as a Power in Furope, The autonomy af the Belaves in Bulgarla should be - gusranteed. Bervia sbould bave her ancient dominion of Old Servia, Austria shoukl be allowed lo oc- anpy Bosvia aud Herzegovina, Italy to bave Albania, end Oreeco to tako Eplms snd Thessaly, while Kussia might clolm Arwenia and o passage through thoe Dardanciles into tho Mediterranean, with o cession of the Turkish fleet as a mark of Ottoman esteen, Mayor Basaxt, of San I'ranclsco, scting in pursuance of tho wise precautionary plans adopted by tho authoritivs, is dotermined for once to Interfero with the exerciss of tho right of freo specols in that city., He will not permit the assembling of the Convention of Anti.Clhinese agitators which was called to meet ot Ban Francisoo to-dsy, belleving that tho violent aud inflanunatory speeches certain to b mado at auch a gathering would Lo on vlement of dangeer that ho is justified in reprossing whilo thore is, yet time. Itis o jofraction of the abstract principlo of personal liborty of which theso ultra ogitat- ors have no yenson to complain, ‘Their on- tivo movewent s & blow almed at the free- dom guarantoed by the . Copstitution of the United Btates, and if the Californin authori. tiea renort to arbityary picasures it is becouse public safoty demands i, N o vo nlimited colnage, ot fearing that it will becomo 1ou pleuty for thelr wunte, and thal it be nade & tull fugal-tender, believing that 1t 1s e good now with which to ™ 3}l debts, public and private, 8¢ it was during clzbty-one yearaof Aniericun history. contivued yesterday thelr discusaion of themes morw or less direetly gerwane to the topic of tho bour, Future Punisisent, and sery generally thoy aro altagether at log- srcond—'Tus tepeal uncouditionally of tbe uct of Jan, 14, 1875, camnelling the resumption of specta pagiente on dau. 1, 1N70, bolding thet tbe ques- fioh of areturn to epecio basie for var eurreney should bu coutrvlled entirely by the busincws Juter- eote of the country, Py do nut budeve that the wed throdgh the deptbs of W o degradation in order 1o seacha jor the beucdtulons of e 3 e clanecs, Tatrd—That the natlonal-banking system bo re- moved, and s circulsting miedium provided oy the Government for the people without ""”k";‘f": ot peibends sbont it. 'The Rev. Dr. Tuosas, of Centunary Methodist Church, continued Liy series of discourses on Modern Doubt aud Doguatism, tracing the progress of re- velt from the old belicdf, and showing Low doubters Luve in numisrous instances come P ¢ i taihing I, ana th A pelled the dogmatieiz to modify their {::5 '-hu.z:;u'tul'fi:u: fm‘} I;:'i*mlu:::mn :.’ ru | Our latest dispatches indicato an expectation creeds to correspond with the od. | cestonsblo abd dudivious provartion 1o the busls | iy T ondon that such a partition will uot tuke upsactivns and population of the Lmied BHlater, Kourth—That the currency suthorized and cir. ctiluted v the authority of the Goverament vhail be wade a e coder in payment of all debts, public and private, Including all dues to the Gov- cruuenl, Wi owing that it will then by at par vouce of enlightened thought. - One of his Mcthadist Lrethren, tlie Rev. Br. CLENDEN. ixg, of the Laugley ,Avenue Church, au. vouaced his beifef in endless pusishwent, place, and tbat Tuskey will reniain a8 & Eu. ropean Power, but the cxpectstion has little foundation. Partittons of territory and yec. tifications of frontiers bavo followed every ell but vouchsafed nothing as to the kindand | with gold, vr wmore ikly st o prewdum uver; | great Europesn war. It Turkey is character of the Hell whereln tho doomed “fium.flm bereatter tho Ananclal policy of the | compeiled to cedo eny portion of couutry boe fromed permancatly juthelr sutezest, 1tiat tbey oball not vo discriminated sesiust in future legislution, as 10 thu past. aud tbst their prosperity and not the mere growth of fucvie to petired capitalists vball bo the primary duty of the Guvernuient. Now, the first of these propositions is the und dawned forever sufier, The Rev. Mr, Paxxuvier, of the Firt Methodist Church, segurds a place of evorlasting torment av & neceasity in the Divine econauny ; aud the Kov. Dr. Goovwin, of the Fizet Cougrege- I’ ber territory to Russis, other Powers will stand by, ready to demand their portion, Any sottlement of peaco that dous not por- manently relonso the Beloves from Turkish Quspotism, snd does uot forever destroy Lur- key na a European Powoer, will inovitably bo of only tomporary value, sud must entail future wars, The opportunity has now como to settlo the Turkish question for all timo, and it ought to be seottled, in the interests of tho future peaceof Enrope. Any sottlement that wonld not only securo Belavie independ- atce, but banish the Turk back to his Asiatic homn, would be of benefit to modern civill- zation npd hiolp the progress of the world. THE FAILURES OF 1877, Theto was printed in this paper Satnrday & transeript from the Commercial Agoney of tlio Mst of failures of all kinds in the City of Chicago during the year 1877, with the amount of liabilitica, The number of fail- 1res was 412, and the aggregato indebtedness 270,857,038, 'Tha table is instructive in the wido rango of business pursuits of the per- sons failing. Toking out fifty-ono cases whera persons rosorted to the Bankrupt Court toobtain clearances from old linbilitics amounting to §3,402,631, we bave for the current failuros of the year 861 cases hav- ing » liability of 27,455,307, In this list wo have 2 dealers in ogricultural imple- ments, 4 bookscllers, 16 dealors in Loota nnd shoes, 19 builders, 10 clothing houres, G in crockery nnd glnssware} 12 coal dealers, 8 in dry goods, 7 drugglsts, 27 In grocerios and tens, 81 in fron and hardware, owing over 2,000,000, 29 dealers in liquors, and varions packers and provision men. Thoro wero also dealers in real estato owing $8,000,000, and various bankors and'banks owing $7,5162,000, ~tho Inst two clnsses owing miore thau Lalf tho wholo sum of linbilities, "I'his is not tho result of n sudden and un- foreseon panic. It ia uot the result of apoc- ulation nor of rash venturos, When the panie of 1874 strack the country it sqneozed tha water aud the alr ont of nll that was in. flated. Curroncy was then worth 90 conts, and the paule reducad ol valnos to the coin atandard. ‘There the declino in valuos ought to bave stopped. Bronght to their value In goldl, all desoriptions of proporty ought to havo then maintained that value. Hut the decline did not stop there, 'Thoso tvrecked Ly tho geuoral collapse of credit and tho explosion of speculation passed into bank. ruptey, Bome lingered along a whilo atrug- gling, and then too gavo up. The recovery was looked for. as soon as the wreck conld Dbe cleared away, and four yenrs have como . and gono, and the work of 1877 is boforo 15 with its terrible figures. From winter wo Tooked forward to spfing, and from spring to sammer, oxpecting a turn in offalrs and a ravival in business ; but senson aftor scason has bronght additional and continuous losses, and no restoration or recovery, During theso four years of declining trade tho conutry has been biessed with largo crops,—breadstuils, provisions, and cotton, Despita the unusual event of four largo crupy in atoual succession, the falling off In values has gone on, Why this extraordinary ealamity which hns fallon upon the country, reducing one-half tho peoplo to ponury and waut, oven to motual starvation, arvesting production, and rendering labor insuflicient to support men in tho nacessarios of lifu? Tho oxplanation jntobe found in tho mad endeavor to in- cronso tho value of money and to decronse the valuo of property. Tho ordinary process of ndustry is to apply labor to the raw ma- torial, and soll tho mnuufactured articlo at o profit ou the cost of production. Whatis the procesanow? Whilo lubor is fashioning tho nrticle from the mntorials, tho valna of tho finished product so declines that it is {1ose. thath “thio” EY, 8R! Wodittidn) " Tho| | a stock of that bofore ‘ho man who buys in Aprl finds goods can that they will not yicld him enongh to pay tho notes given for tholr cost. ‘This is not oxceptional; It is tho gemeral rule, For threo years wo havo been trading nud labor- ing on o falling mnrket, ‘The falling in the valuo of labor and its produets s tho result of the incrensa {n the value of money. The ingenuity of the mouey-lenders of tho world has boon dovoted to the accompllshment o? snend, They hold tho debts of mankind, and hold n mortgage on tho acoumulations of tho world's labor. Thoy have decided that motnllio ;oney is too cheap; that gold nud silver will not purchase enongi of this world's goods ; that the dollar does not pur- chinso enough labor ; and that the valuo of the weonoy must bo increased by the reduction of 1ta volume onc-half. Thoy lave decidsd, tinereforo, that to jocrense the value of tho muetallio money it must be confiued to gold exe tsivoly, nod that silvor shall bo unlver. sally* domonotized, Iuto this schemo the Gernwn Government was entrapped . in 1870, wnd began to put it into operation in 1575, Our Govermment hos fallen into the samo sshemo, and for the lost three yoars basbeen laboring in all its departments to increaso e valuo of mouey, nod, a8 a con. sequonce, to deprecinto tho value of every description of proporty, snd of the product of labor, “Xhis policy is shown in tho two mensures s . 1. The dem vnetlzation of silver, 2, 'Tho enfor ved resumption of specle.pay- monts in gold evdn oxclusively, On this questlon, unfortunately, the Ex. ecutive branch of the Government takes sides with the factisn 1 Congtess which rep. resonts tho money-landing nnd the mortguge. holding intercst. The Hecrotary of the Treasury Is the greatist bull in the gold mar. ket. aud overy woons at his ofiiclal disposal is cwployed to forco an oxclusive gold our. rency on tho country, aud to depreciato all property,—the nccumulations of the in. dustry snd tbrift of the peoplo. o is possessed of the insane lden that e con Lorrow gold emough in Europe with which to resumo and maintein specio poy- ments, o ignorgs tho fact that the product of gold is decliniug, and that for two years Germany hias boen paywg frow 0 to 10 per cent promium for gold. ‘The oment he undertook to sell 4 per ceut bonds for gold tho sala of thoso bonds stopped. Every time Europe bas to make gold payments to thia country it sonds home American bonds to bo sold, All appesls or dewauds for gold aro auswevad by the return of our bowls. But the poliuvy of resmnption iu gold levs thon & year Lionca is persisted in; the demonetiza. tlon of silver i inslsted upou so far that it is somi-offoially unnounced that, it Congress shall pass the Silver bill, tho Presidont will put thae national will at defiance and veta the Lill, It silver sholl pot be romonetized then tho value of gold will gontivue to fu. crease. Every nation iu Europo is board. ing every ounce it can get hold of; Ger- wany is now vainly offuring 10 per cent promfum forit. A year henco the gold dol- larwilt equal in all kinds of property asmuch as would bave commanded $1.50 in gold in 1874. Money of tho country will bave ad. vonced 60 per cout, and the valos of all other property will havo declined even to a greater extent, The faru that in 1874 would have satisfled a debt of $10,000in gold iu 1879 will not pay more thau one-half or cue- third that debt. ‘To this geueral revolu. tion of vulucs tho country i drifting, sud soll one-half of them tholr valuo has so fallon, the Goverument ia waiting with seoming im- patience for the gonoral wreck snd ruin which are inovitable, *The long list of failures, avon after olimi- nating the frauds and thefts, tells the story of tho fail in values. 'The $30,000,000 of in- dabtedness reprosents property actusily held and mostly purchased since 187 The sum roprosonting tho differonco botween thin 210,000,000 nnd tho prosohit value of that property is the sum of the shrinkage which hea taken placo, 'This shrinkaga is still going on, and during the yoar which stands betweon the presont and the day of rosumption it will progress with ncceloratod ropldity, until next January there will be thnt goneral prostration and nutter min which will nrrest business, Government, 1abor, and society. Must the country stand atill and not protest? Must the people remain idlo and witnoss the decay and shriveling going on and lift no hand to cor- rectthom? Will Congroas or tho Pres iilent, in the fnco of all this, brave the whole peogle, and mock and taunt them in their distresa ? 1t is but proper to say, in connection with theso figures, that of tho $30,000,000 liabili- ties chinrged up agaltat the yenr 1877, in thia city, the following items, to a large oxtent, cannot fairly be included omong the com- mercinl fallures : Fif1y-one cases of old indebtedness,,,$ 3,002,011 Teal-estute operations (ante- panic) ..., 8, 100,000 Savinge tnd utlier bank: i ool venser Noverthieless, af sum, tho romaining figures show an alarm- ing aggrogate. A Now York agency roports the wholo nnmber of fallures and the nmounut of lip- bilities for sovernl years, in oll parts of the country, to be as follows : No. of Saitires. Amount of Tiatililies., $:401,750, 000 1, 0,0 $1:10, 757, 0D 163,200,000 201,040, 00 W17, 000 143, 001, GO0 Yearly avetages 7,889 $183,521,000 Thu dotail for 1877 iy exhibited In tho fol- lowing comparative figures: t N by 53 States, ig %_: é_’ 5. e a3 ¥ PR E s = 2223 M m Pacific & Territorles. Total Unlted States, Dominion of Canada, cetrpagnpinf lfo a3qu 3,901 [n G4 8 o 3,04011 4n 73] 1,07H/1 fu 85| 2,700(1 in B4 LU, 21,002 1401 Canada 1211 1n 30,8 25,523, V0813, 400 Tu the ligt of theso tables, wo submit that it is full time thero should be a change 'of policy, and that something should Lo done, if not to appreciate tho values of labor and proporty, then something should be dono to stop the decline’in values. ———e MONETARY LEGISLATION OF THE NINE- TEENTH OBNTURY, A roviow of the logislation by other ctvil- {zed nations sinco 1800, with rogard to the monotary standards, will throw the light of facta upon the debato now in progress in the Uuoitod States. ‘I'ho firat conutry to leglslate nbout the stondards wns Franco. The lnw of March 28, 1803, wade the silver fivo-frauc pleco the monetary standard, provided for tha colnago of both gold nnd sliver nttho ratio of 15§ to 1, aud atipulated that, if tho forco of circumstances made it necessary to chango the proportion, the goll colus only should be chianged. Under this law, Fraoce colned until 1850 throe times as much silver os gold, In 1810 England adoptod gold ma tho standard of coinage, aud Holland, in the samo year, made silver it standard. In 1825 Holland returned to® the gold stand- ard. Bardinia in 182¢, and Belgiuwm fa 1832, wode the Fronch law thelr own. Durug 1licso changes by other nuations, the Germau ftatos held fast to tho silver standard, 'I'bis Qiversity of action added a great denl to the stubility of the bulllon miarket, ‘I'he colo- nies of Englaud did not follow ko Mother Country, but rotained tho silvor standani, ‘This was true, and rowalus 8o, of the Eaut Tudies, as woll as Ching aud the rest of Asin. Tho usnge of the Eaxt Indies wos made legal by a law of 1835, exprosly doclaring sllver to be the staudand of the country, Tho Dresden Mouney Conferenco of 1838 rogulated the money of the Buuth Geruinn Blates ou tho silver basis, In 1838, gold was froely coifued in Hollaud, Tha Nethorland Bank then declarod ngsinst gold on neconnt of ita inforlor stability, und in 1845 the coiuago of gold was suspended, In 1847, aftor much opposition trom the Chambers, gold wos demonetized, In 1818, gold was discovered iu Culifornia, Holland, aftor adoptiog tho eilver atandard, thirow largo amounts of gold on the market, The Belgions at the same timo putgold out of ciroulation, and Bwitzerland placed jtself un- der the Freuch system, without its provisions with regard to tle coluage of gold. A great movemant took place in tho exchange of tho now goldt for the wilver colng of France, Bet- gium, and Italy, which wore oxported as sil- ver bullion to Asla, Thiv acted (1) to keep gold aud silver stoadier than under any mou. ometallic system, and (2) to stimulate trade between Europe aud Asla. Bilver bocame scarcer and scarcer in Frauce aud neighbor. ing countries. Moro sud more gold wns coined, and the silver five-franc pioces were chnnged snto Indisn rupees, At this time the Gorou States united on the Vienna Money Counveution of Jau. 2, 1857, 'The silver standard was the ono es- tablished by the Vieuna Congress, slthongh Austria bad strenuously proposed tho gold standard; but the Vienua Convention sllow« ed the coiusge of gold trade coins. These wero crowns—fifty of which should be equivalent ta a pound of fino gold—aud half- crowns. 'Tho experienca of Belgium st thiy period offers a striking justance of the dau. gerous inconveniencca of & single atandard. ‘The merchants, manufacturcry, copitalists, and tradewmen of that country experienced the greatest annoyance, aud suffered consid- erablo Yoss from the fact that silver was the only metal comned in that country, although all around it, and in tho' closest conueotion with it, were nations usivg gold and silver. Aftor great debate and disturbance, the coln- ago of gold was resumed in 1860, The next important monotary ovent was tho Latin Unfon, organized Dea, 23, 1865, by France, Bolgium, Italy, and Bwitzorland, which, later, wero joined by Greeco. Its original purposo waa to regulate the lssue of aubsidiary coins in each State, and to give the coins of each of tho member Btates freo cireulation n all tho other Btatosof tho Union, Bat in 1873 Belginm asked and ob- tained tho right of suspending or limiting the colnngo of the fall logal-tender five-frano ploces, and in tho annual masting of 1874 the coinngo of the five-frano ploces was lim. {ted for nll tho members of the Latin Union. Every year tho delegatos of the Latin Unton meet and fix tho amonnt of silver to ba coined by each State. But the gold and silvor colns atill circulate in these countries glde by side, and ave colned on the bnsis of 15} to 1. Just befora the war of 1800, this wns the condition of the standards in Europe: Ia- gland had the gold standard, Its dependen- ciea tho silver standard. The Latin Unlon had tho doublo standard, with a limited coin- nge of silver. Franco, according to the law of 180; had nomiually only tho silvor taud- nrd; but in all theso most of tho circulation was gold, although tho amount of silver coined and in circulation was large. The countrios nnder the Vienna Conven. | tion Lind tho silver atandnrd, with a gold tende tovoy, whieh had not boon coined to a largo amount, ‘I'ho war of 186G put an end to the Vienna Convention, The Gevman ¥ money-roform,” which be- gan in 1871, and ended in 1873 with tho de- monetization of silvor, was undertaken by the Governmeut withéut any intention of making gold tho single monetary standard of tho country. The Government stated its purpose disfinctly to be to form sn Imperial <ol eurreney (n placs of the coofused and closhivg enrrencion of the varlous States, and%o uss for this purpose n part of the Frenel indemuity. DBut the Governmont was enrried along Ly the Impurinl Diet into the demonctization of sllvor. The laws of- fecting this wero tho onsctwent of Deo. 4, 1871, suthorizing au Imporial gold coinago and proparing for the withdrawal of logal tender silvor from circulation, and that of July 0, 1873, providing for the issue of a subsidiary sillvor Imporial curroncy, snd give ing the Imperial Governmont the powers necessary to demonatize silver. perirl Government under {his authority has demunotizod o port of tho old silver curren. cy, bnt the largost part of the sitver hns not Deen demonotized or withdrawn, nud romaius in cirenlation ag legal-tonder, Fally to compreliond the meaning of thesa facty, w3 iuust romembor that between 18530 and 1860 Californinn nnd Australisu gold flooded Burope. 'The actien of France in adhicring to its stnndord b this crisis was wost huportant, “Iho silver coins of France wero expelled by tho cheaper gold, which camo mnto general circulation, France turns wsldo to o gront extent the dovger of o dls turbanco of the money standards, nover mote serlous thau then, and through its opposition to the attempts to demonetize gold saves the Lullion market from the most dangerous fluctnatious. Botween 1860 and 1870, the Latin Union was founded on a bi-metalllo basis. Tho demonetization of silver begins to be talked of in Frauce. The ropresontative of Austria in tho negotiations which wero to have con- ducted it iuto the Latin Union cxertod hisin- fiuonuo in favor of theso offorts to domonotize silvor, Tho Franco.German wnr follows, After 1870 wo ‘sce the Gormaun Roichstag forco the Government to ncoept the ex. clugivoe gold stundard. Slowly, aud step ‘by step, with o continuallysinkipg silver warkat, the Government proceods. The niembors of the Latin Union immodiately limit thelr mlver coinoge. The value of sil- var sfuka oxtraordinarily low, till the ratio of silver to gold has sunk from 15,6 to 1 to 19 to 1, Finally, tho silver market begins to re- covor, Production has nothing to do with this turn: that iy still ugainat the prico of silver ; it Is fnduced ouly by commercial con- ditiony and leglalative rogulations, In reciting this Listory of Kuropean colnago laws, Suxss ghows that with thoso fluctuations publie and private property flucluates. Grent dam. aga Is done without much good to any ono. 'ho uncertaiuty has bocome u general ca. lamity, which the recout lsprovement in the sllver morkot hins but partially bettered, Por- sonu of the the groatest experience in mone- tary matters,such a3 Buzas and Ceuxuscis,and bodies of tho rank of the Liverpool Chinmber of Conmneree, nnite in calling for an futer- natlona! Copgress to regulato the standards, 1¢ thist s not feasible, silver should Le made tho standard with n coneurrent colusge of gold c The Ohlo Iouso of Reprosoutatives de- voted last Thurkdoy afterncon ton discus- sion of the Silver bill. Tbe leaders of the three parties expressed their views and thosa of their reapactivo pastles. 'The resalutions wera flually put and carried by yoes, 00; unys, 5. 'The Drst resolution declared— 'hat common honesty, true Susnclal wisdom, and justice to the tax-payers of thiv country, des wand the immediate restoration of the vilver dullee tu lts former rank us a lugul tender for all deols, publle aud private, ‘Ihe socond rosolution nsyerts— Thut President 11ayEs and Becrelary Bugsuax, in thelr opposltion to the testuration of the sllver dollar, do not represcut the vivwe nor the wlshes 0f Lo ULlo beovle, T'here Js no question ns to tho truth of this resolution, “Lhe people of Oblo douire the uncouditional remohetigation of silver by & mojority of oven mory than 90 to 5, and the opposition of the Hecrotary of tho ‘Treasury, and of the President, if ho s agaiust tho bill, most assuredly doos uot ropresent the withes of the poople of the great Buckoye State. Mr, CoNKLING |8 a nice sorb of n Republican— ho ds. Jis special henchman, 3Ir, A, B. Con- NELL, haa Just bucu ralding Leave, earth, ana the State Benats of New York 1o sccurs the confirmation of TiLpEN'S friend Faluenn.n us Buperintepdent of Cunals, on conditlon that CoNkLiNa's man, Tox Puary, should be wude Connnissfonier of Banks. Lucklly, the Repub- Mean denstor did not sce things *fu thusa lamps, to use the words of Lavaverra. It seenia 10 s that Mr. Cok¥zLL 15 sprouting too lushly and luxucfantly, Mr. Harzs sbould prunc biw to the extent of his oficial Lesd. —— Benator DeNN1s, of Maryland, was one of tho Democratic Senators who helped Mr, CONKLING to slaugbter the Prestilent's nominecs for the New York kederat ottices. Then there wes an clection for Senator I Marylund, sud the De- woerwy 338 down on Mr. DEX¥IS’ bead with tho vehemenvs of o plladriver, Wo ratber thlnk that if President Havss cau't fud Republican votes epougli i the Senate to carry ous Civil- Bervice reforn ho van borrow theid from the Democrats at the current rates of futerest. B Tho chavge fo tho fortunes of the Easjern war has materfally turned the seotiment of tbe Rus- slan preas aud people {n regurd to Uen, Joxas Tisvy. He it wusagulust whows, when the Turks were scemfugly victorious aud uncuoqueruble, tho erjticlims of the uatlon were directed, as i Tho Im.: .bil), kelled the article. Also, the young man. was gencrally aupposed that by h Ten the Czar was lavelgled Into the war. The -fesling reached a culminating polnt Just atter the sec. ond repulso bf the Russian troops at Plerny, and Gen, JaNaTiere was treatod to unstineq abuse at the bands of the Bt. Petersburg azetle; while, cven in military clrcles, the Gen. ernl found himself in growing distavor, Itwhibe remembered that Enghsh correspondents at thy front Irequently during the summer alluded to 1hils supposed fact, and even reported that he hag been placed under custody st the Crar's orders, But, doubticss, thero was little mors founds. tlon for this statement than was to be found la camp rumars, It s certain that Ionnl", though nover given an active command of troops, was constantly st Bucharest or the Emperor's headquarters during the campalen, Now comes a letter from o London T¥mes cor. reapondent at 8t. Peteraburg, which says that the sotdier-diplomatist sccompanled the Crar back to the Capital, and partivivated fa thy general rejolcings and. Testivittes which markey ihat event, and that IawaTierr himself re ceived nu mmall share of the popular npplouse, Morcover, 1t {s said that he Is no'y among the leading candidates for the post of Chancellor on the retiroment of 'rince GORTICHARORF, which {s expectod to take place soon after the con. clusion of tho war, e — e A writer in Appletona® Jonynal pretends tohan acqulred somo Interesting Information regand. Ing tho early dags of Henry M. STANLEY, thy African explorer. He states that BraNLer's original name was JonN ROWLANDS, and tha L was born near Denbigh, Wales, In 1840, I parents were of the poorest condition, a3 wasto be fuferred from tho fact that at theageof § years tho child was placed tn the Poor-flouse of 8t. Asaph, where hie remained ten yeats, and re. ceived nn educatlon fitting bim to becomea achootteacher, Buthie was carly possessedof tho spirit of reatlessncss, and at the age of 1§ hewent as cablu-boy on board a ship Lound for New Orleans. In that city he met o n merchant named STANLET, who adupted the ladt, aud gave him his name, but nnfortunately uled suddenly without maklog a will. Wil the Civil War broke out, STANLEY Joined the Cunfederate army, but, havinz been made o prisoncr, enlisted ou the other slde, and served three years. Bubsequently he drifted fnto Journatism, “Tlus story Jacks several elementy of credibllity, as it nakes no mention of his career as o local editor in the West, Bransa was tor several years connected with papers Omalu snd other citics, and, doubtless, there are old acquaintances of his vut Weat who ar sulliclently posted regording bis early lfe to conlirm or reject the story related by the writer 1u Appletons’, e e — ‘I'io cvils of extravagance and its relationto the prescnt hord tinies have been discussel withs sulllelent frequenicy In eober prose, but the tine has come when the Sweet Slugzer of Miche fgan eannot longer rema‘n silent upon o tople of such general finportance. $he says: + Leave off the ngony, Teave off style, Tnles» yoa've got moncy by yun ull the while, 1t you luok sbout you you'll often huve to smile, "To scu ¥0 Maty poar paople putting on style. Bl ahell e iado The London Zimes, in a deseription of the Fangulla of Rome, says that It **needs hardly the help of the complicuted machinery by whics the New York Jlerald swd Tus - Cittesso TuinuNe coable themselves to meet the ever increastog demand of their readers.” The Times loco us proud, but anuther thne it should put Tir L1060 TRIBUNR Urst, Col. J. B, Daxronn, fof moro thn twestye five years editur of the Rock Istand Argus, ol ter o few months’ hollduy, has begun the pud lication of a new wéekly paur, to be called the Rock Jslander, With his grent ability and bis long exporience, It 18 more than probable thay the new paper will bo o suctesy, nod take raok among the best in tho Btate, ' e Acconling to the figuses vresented in the -n‘ nual drenlse of o Now York mereantile ageney, there were 220 Jous faflurcs fn tho United siates §n 1877 than In tha precediug year, the recond standing 8,872 far 1877 agatust 9,003 for 1816 The total labllities for the year post wer $100,06,000, agulust $101,147,000 for thy prevk ous year. —————— . An unbappy young man on one of the New York dallles wrote an editorlal fn which e spoke of some lucky person as having been born “with a sfiver spoon fu by mouth,".awd the edltor, & frenzied vnponent of the BLasp Bome of our Eastern Journalistic frionda have a dcal to say about Westurn fulk belonging to the dobtor class, Perhaps they might thems sclves i they could get any e to truat them. e et We should like to know what Jay Gottd kuows about the higher cducation of American young men thut Wiairzraw Rein sbould e elected Regent of the University. i - e The Clnclunatt Auirer, in its cager thint for sensations, higs found Cuannzy Ross, osly Up to the prescot thno ther has been a grest deat of donbt as to whethier thiswinter was oesé spring or only last fall. e —— Nan Dickinsoy fs writg o comedy. She says it 14 the most scrious wark of her Hic, e e— - -~ Things in Azure Miuor look protty biue for the ‘Turks. - ——ra PERSONAL, 0 Adirondack Murray, the Ioston proacher, 12 6aid 10 bu growlng losa spizitual sod more the atrical fu hls worvices, Huoklander, ** tho Dickona of Germany," reculved frumn o single pablivior during the twenty® alx years coyuing 1831 tho large suwm of $00, 000 Johu G, Nicolay aud Johu Hay, who weré Mr, Liucoln's Private Secretarios, are still Lusllf cnysged on thoir jolnt Life of Lincoln, which they beyau shorily ufter bis aveassination. Teane Vou Noatrand, nu American of Mterary tastes, with o wmost substantial bank s count, i living the Uite af a bLatbarlan Prince 08 bis mantla plantation, i L Philippino Tslands. The:lioru of Plevna hny baon claimed by France snd Amerlca, and now on Inwh jourss! coned forward with an elubuorate story fu prové that ¥ulelman Pasbe 0 oua Patrick Bullivad, whoeo parents lived st Bantry In 1843, The funeral of Mry. Frost Thorne, Fanny Davenport's slster, ot attonded by any mem* Lur of her huaband's family, who nave never ree* ogulsed her, . Ehe Just uads an engugement (8 Bau Francleco, o 1ho cliurate was Lotter aulicd 10 hier delicuto health, whon death jutervened. The uowest sud uestest thing is 8 piok wedding, such as was solemulzed lu tha pasid church of Meltun Mowbray tho other day, whes Miss Ceclle May leabella Markbutu, & sluter of 158 Uountess Annealoy, 1n white satin and luce, wat misried to Mr. Ceal d'Agullar Samoda, who. with the uumerous Dukes, Earle, and lonurables wbe stteuded Lim, was atelred n hunting costume, pls¥ Jacket, top boots, snd sll. 1t wes an unrmumly wwell affalr, und 8 rido with tha Duke of Rublaads houude took the place of the wedding breakfat, Ttisrolated that once when u publishef said to tho lats Bamuel Bowles, **1 like yost +guiption® as & newspiper men, but I don't #b waysagrco with tho Zepublicun's opinlonn” 1B editorsnswored: ¢+ Ob! thut'e ull pighey § don'ta5ve with them syself.” ielove of extremo simpliss 1ty aud detestation of all dieplay e Ilustauied 1 tho rewark made 10 bl fawily sfor b wayspparest 10 him that bl doath was Dear &b hand and WP bad enterod bis room 10 fake dnal lusye of blwt +*Dow't let us bave uny varade—pow, nor hare siter.” Mra, Sophle B. Merrick, whose mlero scopical studles, pablishod in Scribner's YoniMr during the past year, have attmcted wide Btien” ton, Liss becows permanently conectod with b4 editorial department of that magazine, Mrs. Mty zick 1 8 daughter of the Rev, Dr, Bledsos, 0 Baltimore, who fur mavy years was editar of 1D Southers Rectewc, » Mothodis quartetly publish lathatalty, Sho was for 8 conaidarsbio poriad Y asrlatast, dofag touch of the work, aud she 14 W% widely recoqulsed so standing u the Srat 188K Anviicsn sclvatise wowea.