Chicago Daily Tribune Newspaper, January 23, 1878, Page 4

4 Clye Teibvre, TERMS OF SUDSCRIPTION. TT MAIL=—IN ADVAKC! Daliy Edition, one vear. .. T'artant & yesr. oer mont| tunday Edition: Lit STAGE mln;n. "“11288 Double Bhret, .50 Fainpiay Editlon, {welve pake $38 Tr: Weekly, one yesr.. 390 1artsof a vear, per mo: WEERLY EDITION, POSTPAL - inn €me copy, per yea: . e eFfober.) loo Bpecimen coptea 3 Ulve Post-Uthce address o full Including tateand County, Remittances may be made either by draft, express, Toat-Office onler, or fn regiatered letters, at our ik, TERMS TO CITY SUNSCRIDERS. Teily, delivered, Bunday cxcepted, 23 cents per wrek, 1.atly, delivered, Sunday fnciuded, 30 cants per week, Address THE TIIBUNE COMPANT, Corner Madison and Dearborn-ata., Chicagu, fil. Orders for the delivery of Tiz TRinuxx at Evanston, Epglewcod, and jyde Park left in the countlog:-room Wliireceire prompt attentian. TRIBUNE BRANCH OFFICES, Trx CricAco TAINCNE hiea catablished branch ofiices for the recolptof subscriptions and advertisements as followa: NEW YORK~Room 26 Tridbune Bullding. F. T, Mo- Fappxx, Mansger. PARLS, France—No. 16 Rue de 1s Grange-Batellere. 11, Maurer, Agent, LONDON, Eng.—American Exchange, 440 Strand. Hgyxay ¥. GiLLig, Agent, DAN FIANCISCO, Cal AMUSEMENTS. THE CHICAGO TRIBUNE: WEDNESDAY. Bo far from Josing strength or confidence, tho silver mon have gained in both, and now count npon filly-two votes in favor of tho ,resolution. Before final nction is reached it will be necessary to vote,upon the proposal of Benator Coxkrixa to make it a joint in. stead of a conourrent resolntion, and thero- by to make it subject to the approval of the President; and npon the amendment offered by Henator Epmuwps, embodying views diametrically opposite to those set forth in the original resolution. The question has been talked about enough to kill a measure of any less vitality, and it is time a vote were taken. — It was not so much the doings of the Dlassachusetts Federalists in 1812 astho do- ings of tho Massachusotta Ropublican dele- gation in the Cincinnati Convention in 187t that troubled Mr. Braixe yesterdsy. The Benator from Maine owed the original parent State a grudge, and the opportunity for payiog it off occurrod m the remarks in the Benmats on the oceasion of the presontation of the statue of Wirrras Kixo, Maine’s first Governor. on one sido and Mesars, Hoan nnd Dawsson the other condacted the debate, which for sharpness and acrimony hos not been eqnal- ed in tho Benate for some time, was temporarily relegated to obseurity, Mr. Buave The statue ————————— By the opinion of Judge Warrace, the ITooley’s Thentre, Randoiph strret, between Clark and LaSalle. Engagement of Robson and Crane Combiaatlon. **Our Bachelors.” Afiernoon and erening. MeVicker’s Theatre. Madison street, betweea State and Dearborn. 1Al the Rtage." Haverly’s Theatre. Monroe strret, corner of Deatborn. Engsgement of Fraok 8, Chanfrau. **Kit," Afternoon and evening. Coliseum Novelty Thestre, Clark street, between Washington and Randolph. Yarlety performance. WEDNESDAY, JANUARY 21, CHICAGO MARKET SUMMARY, ‘The 'Chicago produce markots were moderately active yesterday, and graln was firmee. Mcse pork closed steady, st $10.70 for February and $10.85@10.871¢ for March. Lard closed 2i4c per 100 lba lower, at $7.271@7.30 for Febroary and § @7.374% for March, Meata wwere ensier, at 3%c per I for boxed shoulders and $5.55 per owt for do short ribs, Whisky was steady, at $1.03 per gallon. Flour was dull Wheat closed %ic higher, at $1.03 for January und S$1.034 for Februery. Corn closed ateady, at 41capnt and 30%c for February, Oats closed e higher,at 235 capot and 24c for seller Febrnary, Hye wasdull, ot 61c. Darley closed 1c lower, st 1i02;c tor February and blcfor March, Hogs were Iairly active and G210c lower, closiug ot $3.75@ 1,00 for packing grades. Cattle wereidall and lower, with sales at $1.60@4.80 for inferior to cholce. Bheepwere quoted at ¥34.560. Instorein this citylast Baturday: 1,0: 80 bu wheat, 684, 022 bu corn, 227,472 bu oats, 166,402 bu rye, 680,082 bu barley. Aleoafloat in harbor: 260,741 bu wheat, 125,807 bu corn, and 01,034 ba oats. Inspected intostore in thia city yesterday morning: 123 cars wheat, 167 cara corn, 48 carsoats, 23 cararye, 87 cars barley, Total, 448 cars, or 181,000 bu, One hun- dred dollars in gold would buy $101.50 In green- backs at the close. Dritish consols were quoted AL 053 and ster/ing exchango at $4.833 —— County Autorney, which was ycsterday sub- mitted in writng to the Committes on Finance, the reckless running into debt here- tofore indulged in by the County Board for the bonefit of Ring contractors and favorites has been brought ton full stop, Some in- convenionce and muffering will be the result, but it is a doso of medicine which was neces. sary to remedy the disordered condition of the patient and prevont a total collapse. Those generous dispensers of the people’s money who rescinded Order No, 4 will now bo under the necessity of restoring that nseful regulation, even though the able-bodied dond-boeata should ba compelled to work for their food and clothing in consequence there- of. Mard-pon bas been reached, and there is, fortunately, no help for it but to atop wasting the substance of the taxpnyers, 1871 The rumor that a two.months' armistice has been agreed upon between the Grand Duko Nicroras and the Turkish Plenipoten- tiaries, lacks confirmation, and will probably bo found to be premature. A statement is, however, made in the cablo dispatches which is extremoly significant if true. It is that Austria bas waived her objection to tho Russian occupation of Constantinople, lenving England solitary and alono in her feeblo protest oagainst the inevit~ ablo march of eveuls. Every doy brings tho Russian advance nearer to the gotes of tho Ottoman Capital, with the increasing certainty that the withdrawal of the Sublime Porte to safer quarters will bo the final ending of the location of the sent of Government in that city. It i3 now hinted that, once in possession, Russia will never consent to vacato except upon condi- tion thnt Constantinople henceforth be made & neutral aity. THE NON-PARTY FINANCIAL CAUCUS. It has beon manifest from tho beginning that the silver question Is In no senso n par. ty issuo. Tho monoy-lenders of New York and Now England include both Democrats and Ropublicans, aud all unite in the effort to oppress tho mnsses of the country by en. forcing resumption on an exclusive gold bnsis, The Democrats and Republicans out- sido of this exclusive clnsn alike unitoin ro. sisting the injustice and oppression, It was proper enongh, thorefors, that a non.party caucus should be held in Washington for the purpose of Recuring harmonions action be- tween Congresamon of both partios who aro opposed to the gold clique, and,iad this cau. cus beon guided by wise counsals, we should have wolcomed it ns a hopeful indication of success. But it is evident from the action takon that tho caucus was organized rather to ndvanco the causo of greenback {nflation then that of silver remonetization, and the result moy work niore injury than benofit to the legitimato nilver movement. Tho genu- ine friends of silver remonetization, andeven its honest opponents, should keop this dis. tinction well in mind. , Thoro was an attempt to secure from the caucus an indorsement of three propositions, viz.: (1) Tho vepeal of tho esumption act; (2) the romonotization of eiiver; and (8) the substitution of greenbacks for the entire volumo of Nationnl Bank notes, A threefold indorsoment of this kind would bave commifted the caucus to a united action to sccuro theso results in the order they were enumorated, if it were not possi. bl to attain them all together. Finally, the proposition to substitute greenbacks for the Nutlonal Bauk notes was abandoned as o sort of compromise, the remonetization of silver was given pracedenco over the repeal of tho Resumption act, aud a resolution offered by Mr. Fonr was adopted, in the following torms : Resolred, That the purpose of the organizstion now about to iie madoe shall be cunfined to tho re. munetization of the sliver dollar and the repeal of th Resnmption act. ‘I'hls resolution was only less objectionable than tho original, and still objectionable enough, perhsps, to ondavger the final pas- sago of the Silver bill, and certainly calcu- Groonbacks at tho Now York Btock Ex. change yestardny closed at 98}, — It is pleasant to note the reward of the chivalrio bravery displayed by Capt. Suaven- Nessy at the time of the massacro of the Cmsmorx family in Kemper County, Misais- sippl. 1Ilis services in bebhalf of Mrs, Oms. nowy have been recognized by the Prealdent by his nomination as United States Marshal of Utah, . ———— Tho Byndicate bankers, now that their contract with tho Governmont has been ter. minated, want to bo roleased from their linbility for their lnst subseription of $10,. 000,000 in bonds, and urge that the Govern- mont will be tho loser by holding them to thoir contraot, as in that ovent they would bo compelled to throw the bonds on the mnrket in competition with the sale about 1o be commencell by tho Treasury:Dopart- ment. The matter is under consideration by tho Cabinet. "It will be good news to the savings bank dopositors to learn that the Senats Commit. teo on Finance has reported recommending the passage of the bill introduced by Judge Davis oxempting ineolvent snvings banks {rom tho payment of tho Government tax in all cases where such payment would reduco tho asaets to be renlized by depositors, ‘The bill simply contemplates that the Govorn. wont shall waivo its claim for the benefit of other and far more needy creditors, nnd thero is scarcely a doubt that it will pass Loth Houses without opposition, —— The Coroner's inquest in the case of tho murder of Hvau McConviLLe resulted fn tho complete identification of Jznesian Conyow- Ly a8 tho butcher of the occasion, This young product of the slums was out fora “epreo” on Baturdsy night, and his fden of fun secems to have been to maul, maim, or kill whomsoaver he happened to cncounter. Tho citizen who, without wait- ing for an attack, should have drawn a re- volver and shot him as he would a mnd dog, would fave dono soolety n service and saved the hangman a disagreeable but necessary duty. S Bt. l’uu‘l is just now opeuing its oyes to tho blessiugs of Democratic Ring rule, which are much the wamo cverywherc, A sensation has boen created by the Grand Jury of Ramsey County iu its report upon the enormnons election frauds committed last full, and in the indictment of two judges of election for felonious and illegal nction, In tho cases of the City Clerk and his ussistant, * who permitted the removal of the poll-books for tho purpose of assisting in the frauds, and of numerous election judges whose negligence aided the operations, it is found that tho law furnishes no warrant for their indictment, though their share in the frauds is severely censured by the Grand Jury, Every facility for a thorough investigation will be afforded the House Committee on Ex- peunditures of the Treasury Department in its proposad inquiry coucerning alleged abuses In that quarter, 'The President, belng ap- plied to Ly Mr. Groves, Chairman of the Comumittoe, for assistance and co-operation, more especially in overcoming the unwilling- ness of ‘I'reasury employes to testify through fear of removal, has replied in a letter in which he expresses . his hearty assent to the request, and agrees to guarautee the most swple protection to all witnesses who shall be summoned before the Committee, If there are any abuaes in the Treasury Dopart- ment, the Prosident wants to know it, and uo subordiuate whotells the truth need have uuy fear of the consequences, Tt i4 thought probable that a vote will be takou to-day on Benutor Marruzws’ concurs rvnt resolution declaring it to be tho scuse of both Ifouses of Congressthat the bouds of the United Btates, the payment of which in gold is not expreusly stipulated, are legal- ly payabls ia silver coin of standard value, Inted, it carried out, to defeat tha advantages expected from silver remonotization, The adoption of such a resolution by a cancus professivg to ropresent the silver movement 25 a wholo, is almost surc to bring disrepule upon that movement, 1t furnishes the gold. ites a partinl justification for pursuing their denunciations of the silver movement asa scheme for paper-money inflation and an indefinite postponewent of aroturn to specie poyments, and enables’ them to nppend to this movement all the wild lunacies that have been enunciated during the past fow yonrs in favor of nnlimited dilution of an irredecm. able currency and practical repudiation, ‘It msy be that thero are many among those now advocating ailver remounetization who are likewise opposed to resumption and in favor ot unrestralued dilution of paper aud Irrodeemable currency ; but these personsdo not represent the strength of the milver movement, and, if they advocate silver re. sumption only asa means to attain another era of wild-cat inflation, they are destined to destroy thelegitimato parposa of the silver movement by their professiona of friendship a3 certainly as if the oonfessed vnemies of sllver remonetization were allowed to prevail. The non-party caucus which adopted the above resolution eutirely and inczcusably ignored the scientific demonstration that an wfenor currency always drives a superior curreucy out of circulation. 'The indefimto repeal of the Resumplionact will bring about a condition of things in which the silver dol- lars will not circulate, As the law now stands, the greenbacks are redeemable Jun. 1, next, in gold. fn anticipation of this the grocubacks have appreciated until they are withinnearly 1 per cent of parwith gold. Yet gold does not circulate rido by sidde with green- backs. Nobody ever sees a gold coin outside of abankor's or broker's establishment. If groenbacks shonld continue to appreciate until gold should be at a premium of only } of 1 per cont, the brokers would atill finda profit in rotaning it for salo at that preminm, If tho silver dollar shall be remonetized, the greenbacks will then become redoomablo in silver, and notil resumption shall have beon accomplished or accepted by the people s a fait accompli, tho silver dollars will not circulate alongsido the greonbacks, A promissory note which bears no interest is nover worth so much ns the money which it promises to pay, so long as the note is past due and unpaid, or so long 83 it has an indefinite timo to rmn, which the mnker of the note alone has the right to de- termine, A grain recoipt only retainsits face valuo so long ns it i passed from hand to hand, with the cortainty that a lawfnl holder can presont it at the warchouse and draw the grain at any timo he may chooss to do, A greonback will be merely n promiso to pay a silver dollar or a gold dol- Inr, after silver remonetization, . If this prom. ise to pay 1s at a fixed date, within a roasonablo time, and finda. univorsal confi- dence, then the silver dollar in which it is payable may circulate alongside of it, sinco its monetary use will be more valuable to the possessor than hoarding it without interest for u fow montha until the greenback shall be actually convertible on demand into the silver dollnr. DBut let resumption be indefi- nitely postponed and the Governmont notes Do kept in elrculation without any certainty or prospect of being paid, and the money in which they are meda payable (but not paid) will disappear from circulation, It will bo useless, undor euch a condition of things, for the mints to bo set in operation to coin 100 millions of silver dollars within tho next year or two, for these silver dollars will not then come into goneral circulation, aud will in no wise rolieve the pres- ont financial dopression. Or, i these silver dollars should be put in circulation under the expectation and promiso of resumption ot a fixed date, a subsequent and indefimto postponement of resumption would drive them out of circulation again, and there would ho & sudden and dissstrous contrac- tion, giving the trade and commorco of the country anothier frightful shock, Itwillbeto the advantago of nobody to remonetize silver 1f silver coin is to bo kept out of circulation by the samo policy that has kept gold and silver out of circulation for the past soven- teen years, ond it is only weank, short-sight- od, nnd ignornnt statosmanship that will thus seek to deceive, disappoint, and injure the country. Tho prime object of remonatizing silvor is to 0dd to the solid, substantial, intrinsic money stock of the country. There can't bo too much hard money—real money—in circulation. Such an inflation is stimulating and invigorating, Itis nt once asignanda prop of national and commerofal prosperity. Thesimplo remonetization of thesilver dollar, with proper provisions for ita coinnge, will contributo a steady stroam to the monoy resources of the United States. It will ren- dor resumption practicable, and, that once demonstrated, the silver and the grecnbacks payable in milver will circulate side by side and farnish the country with a permaunent money supply of a stendy and natural growth, in tho annual contributions of silver, corresponding to the growth of the country and its trnde. But any indefinite postpone- meont of resumption will be fatal to this pro- gramme, If the groonbacks could be kept ot par with silver for a time under such cir. cumstances (which is doublful), and the sil- ver dollar should circulato by resson of an overpowering demand for monoy, any dis- turbance like the partial failure of crops, a balance of trade against the United Btates, an agitation for greenback inflation, or a speculative cornor in coiu, would immodi- ately send groenbacks below par, snd thero would be o fatal contraction, The intcrests of silver remonctization demand that it sliall bo altogether unincumbered by sde issues, and its futuro usefulness rests upon the practical interconverhibilily of silver and greenbacks, ——— CUSTOMS FRAUDS, The peoplo of the West and Bouth are ps. tounded at tho attitude of tho Faston the subject of tho remonetization of silver. An antagonism so purely sclfish and so grossly ,unjust toward a mensure so eminently wiso that not o single valld argument can be ad- duced ogainst it, shows a purposo on the part of the possessors of accumulated for- tunes, consisting of moneys, credits, and un. incumbered rent-yiclding estates in realty, to push the industrial and morcantile classes clear to the wall, It is'the common impres. sion that such uofairness and injustice aro unparalleled in the history of the country. Not at all, Thero is an instance of an out- rago equally flogrant which is now enncting, aud which has beeu cnacting these fiva years, wherein the merchants, people, and press of New York City hold the position of ruthless robbora of the merchants and peoplo of the Westorn snd Southern Btates of the Union. ‘Wo nllude to that cancerous nlcor upon the Civil Service of tho conntry, the New York Custom-House! For yenrs the Representa- tives of the West aud Houll in Congress strove, unsuccessfully, to secure tho right of direct jmportation through tho establishe ment of interior ports of entry, To this just mensure the Enst ever maintained an unbroken, hostile front, never conceding a singlo point, and only survendering to supe. rior numbers in 1870, when ¢he I, T, Bond bill"” became a law. Even nfter the right was secured, an Easstern Becretary of the ‘Ireasury sought to nullify the law by re- prossive and obstructive regulations, Final. 1y, in 1871, the right of Western nnd South~ ern merchants to trade directly with forcign countries was conquered. ‘That theright was no * mere barren ideality * was soon demon- strated. A considerablo foreign trade, both import and export, immediately spraug up in this city, aud a lesser trade at other in- terior ports. The export graiu and yro- vislon trade has been completely revolu. tionized; that is to say, whilo formerly all Chicago grain and provisions destined for Europo passed through the hands of New York middlemen, uow sales aro made direct, and freight contracts read ** Chicago to Liv- erpool.” 'This means almply that, on the great highway botween this city and the 01 World, tolls at New York, so far as the export trade is concerned, havo been abol- ished. Unfortunately, this is not true with regard to the import trude. In its path stand the lons, * undervalualion” and “ dsmage allowance,” Let ud see what they are. They arv flerce beasts of prey, and they swallow angually willions of the revenue dua to the Governmeut of the United States, Of the cost of feeding these ravenous beasts, various estunates Lave from time to time been made. Sowe of the estimates of losses through all forms of blackuwail, fraud, and inefiiciency in the New York Custom-House reach as high as 25 per cent of the revenue due. That the great bunlk of these losscs are chargoablo to nndervaluation and damnge allowance thero is no,lpnger any donbt. The Inw requires that foroign merchandise shall bo entered at its market valne at the port of export or place of purchase. Undervalua- tion consists in entoring it at less than its sunrket valoe, This undervaluntion takes soveral forms, as double invoicing,—that is to say, a tme private involce to the importer and n falso (undervalued) invoico to the Custom.Houso authorities, sworn to befora the Consul at the port of export; and by consignment, The largest part of undervaluation frauds is doubtless committed throngh consignments. For in. atanco, the Lyons (France) manufacturor of broad plece silks declines to scll any of his fabrics intended for the American market, but consigns the entire stock to hisx agent in Now York; that is to say, himself places it on this market, By this course he makes two points: (1) Ie avoids establishing a market price for the goods in Lyons, and (2) 60 prevents the honest importer from prov- ing the frand of undervaluation ngainat him by any other ovidence than the actual value of the goods in question as comparad with goods of like quality. Then the foreign manufacturer invoices Lis goods at 20, 30, or &0 per cent of their real value, and o0 robs tho Government of 20, 30, or 50 per cent of the duty due upon them ; and, as theduty is 60 per cent ad valorem, the robbery consti- tutes a vory large percontage of the revenue due. Now, let us sco how this robbery of the Government by foreign manufnoturers affecta Chicago, There ara-several dry goods aud notion honses in this city as strong in ecash means and credit as any In the conntry. When Chicago was made a port of entry theso houses began to import fnll lines of merchandise, and in miscellaneous goods theso importations are still continued; but in 1872 tho importa of silks, silk ribbons, and some other lines of Fronch staples foll off largely, and in 1873 wers discontinued altogether. This fact is notorious, and the renson of tho discontinuance has been given to tho public by the importing houses repeatedly in the form of inter. views. Tho lntest of theso interviews, published only o fow days ngo, was with Mr. Rar, of Frerp, Lrren & Co. That gontleman states that he can bay in New York brond silks nt $1.10 per yard that wonld cost him $1.60 to import | Nobody will dispute the proposition that the firm named can buy goeds in London, Paris, or Lyons, or any other foreign city, on ns good terms as any house in America. It fol. lows that thoy have been driven from the foreign silk markota by the practice of un. dervaluation at Now York, There is nnother abuse undeninbly oxist- ing in the New York Custom-House which is only sccond to that of undervaluation: that of fraudulent damage allowance. The law prohibits any average damage allowauce, requiring an nctual eritical examination of every packsgo on which damage is claimed to hare beon sustained. Novertholess, it was insisted by all Cbicago importers who had been in the habit of importing India products, fruits, and glass bottled goods through New York previous to tho ostab. lishment of this city as n port of entry, that averago allowances wero made ot that port, They domanded the ramo trent- ment hore, and, when it was repontedly ro- fusod, withdrow their importing business from thls port and returned to Now York. ‘This fact nlonoe is strong ciroumstantial evi- donco in support of the truth of such im. porters' nasertions, that average allowances of damage are made nt Now York ngainst the lotter and spirit of the Inw and the Trens- ury regulations. But we are informed upon oxcellent nuthority that thoro is much stronger ovidence, conclusivo evidence, in support of thia theory in the handa of somo of the Custom-House offiolals of this city. Thera are somo deductions to be mado from the factsas hero atated. (1) As the dry-goods importors of Chicago wero able to import broad silks, silk ribbons, and other Fronch staples at a profit in 1871, but wero compelled to discontinue much importations in 1872.'8, 1t is fair to conclude that tho under- valuation ora commonced in 18723, (2) It is not very illogical to assume, since tho ern of undervaluation commenced soon after the creation of interior ports of ontry, that thio New York importers deliberately resolved to crush out interior Importations by rol. bing the Government of o porcentage of its revenue through undervaluation and damage allowanoes, Two or threo circumstances support these conclusions, (1) Tho press of Now York City is mlent on the subject'of undervnlun- tion and fraudulent damagoe allowances, (2) The press of Now York City sustaina tho prosent cuatoms officers of that port, not- withstanding the fact that the Iate investiga- tion of the Custom.House thero disclosed in. efficioncy and corruption in all branches of the service. ' (3) Notwithstanding the no- torious fact that undervaluation is the chief source of losses to the customs roveuus, the lato Board of Investigation, consisting of a Treasury offiolal and two Now York mer- chants, studiously avoided any refersnce to the subject of undervaluation, aud made no effort to unoarth evidenco of fraudulent dam- ago nllowauces, Finally, we concludn that the merchants, the pross, aud the people of New York City have determined to hold the importing business of the country at every hinzard, Iut, in the name of the people of the Weat and South, we protest ngainst their being permitted to accomplish their purposo by frauds, whether through undervaluation or damago allowance, aud call upon the President and Becrotary of the Troasury to instituto an iuvestigation whose purpose shall bo absolute justice, let condemnation fall where it may. Among othier communications wo print this mornlng is aue written by W. J. Coxeron, of Maron, Ill., which contains a direot menace of ropudintion, It refers to arecent editorial in Tur Tawuxs, cutitled **A Talk About Maintainiog tho Publie Credit,” and it ilus. trates the very danger which that article pointed out tothe bondholders. What we then said was in the nature of a warning to tho wmouney-lendivg class of the danger of their changing the original coutract, which was to pay in coln (silver or gold) to sn un- just and oppressive requirement of payment in gold alone. We said then thata bank. rupt and helpless people, finding it impossible {0 pay their debts inthe contracted stand. ard, constantly growing scarcer and dearor, would begin to resent the swindle that had been practiced on them. We sald that the example set by the bondholders and money-lenders, of changicg the contract for thewr own benefit, might be imitated by another change that would be dissstrous to thew. We said that au coforced reswaption ou an inadequate gold basis might prove to be the road to re- pudiation, and wo quoted the Ohicago Times JANUARY 23, 1878, (nn advocate of exclunive gold resumption), which ropresonts a class who bolieve that repndiation 18 justifiable whenover it be. comes ovident that the resources of the conntry aro inadequate to the dischargs of its obligntions. The commmnnication we re- for to further illustrates the danger to which the hondholders nnd monoy-lenders are blind- Iy urging the legialation of Congross, ENGLAND'S INTERESTS. As Rinssia advances England retreats, and the rotrent is beginning to grow somewhat ridiculous, and all the moro so as Russia moves on to the accomplishmont of her pur- pose with sublime indifference to the chrouic rage of {ho Britich Lion. When war was first declared, that noble animal growled that English {nteresta muat not bo touched, be- fora any one had thought of touching them. As the war progressed and tho Russians ap- pronched the Balkans came anotlier growl thnt the Russians muat not touch the British interosts, When Gen, Gounxo made his first rald across the mountains with hia handful of Cossacks and occupied Kozaulik, England commaenced to bluster, and we began to hear of mysterious movements of tho Weditorrnnean fleet and accumulation of war matorial at Gibraltar and Malta. Gounxo was compelled to retrace his steps and Ene. gland quioted down. Plevnn was invested and Osyax Pasha's communications out off. Htraightway came the old-time howl of Brit- ish intoreats and the threat that the English floot wonld move to the vicinity of Gallipo- lis, Lut Plavna foll and tho flect did not go, Bhipka and Sofla yielded to the victorions Russians, and again came the cry, *‘On to Galiipolis,” but the fleet did not move. Tho Muscovite legions pressed 1apidly for- ward to Adrianoplo and louder grew tho ont. cry, but still the English flect rodo quietly at nochor. Now the Russians aro within a fow hours' march of Gallipolis itself, pre s- ing stoadily forward like the resistless march of Fate, and it {s too late to go to Gallipolis. They are within a few days of Constantino- plo, and, knowing that there 18 no power that can provent their triumphant ontrance, the Bultan and his officials, harem and all, are pro- poring to cross the Bosphorus to a place of safoty. Btill England does not move, Neituer English thrent nor English official protest have stayod tho progress of the Russian armics, Whon the neutral Pow- ors declined to comply with the re- quest of the Porte that thoy use thelr good offices to bring the war to a close, England agreed to make inquiry of the Em. poror of Russia whother he would entertain overtures for poace. The Czar replied very courtoously that ho was in favor of pence, ‘but his armics did not stop on that nccount, The Queen thon addressed a personal letter to the Czar in behalf of Turkey, but still tho Czar's armios move on towards tho Imperial Capital with the ovident intention of occu. pying it long onough to humiliate the Porto and of naming tho terms of peace independ. ont of tho other Powers. With these contin- gencies in full view, tho Queen says in her spoech to Parliament: **Hitherto, so faras tho war hoa proceeded, neither of the bollig- erents hns infringed the conditions on which my neutrality is founded, and I will. ingly bolicve both parties nro desirous to respect them 8o far ns it may be in their power. So long as theso conditions are not infringed, my attitude will continuo the same, But I cannot concenl from myaclf that, should hostilities bo unfor- tunately prolonged, somo unexpacted occur- renco may ronder it incumbent upon me to adopt mensuros of precaution.” To this pa- cific declaration tho London Tunderer ut- ters the following gontlo coo: *‘The alarm recently raiscd respecting the possibility of o warlike policy being adopted by the Govern- ment may now be finally dismissed.” Further evon than this the Z%mes goes, by ssserting that even tho occupntion of Constantinople by the Rusainns would be no reason for En. gland to go to war, Patting overything together, it would scem that tho British Lion has been roariug and making bimeelf gonerally ridienlons without cause. After all this bluster, it ap- pears that the English poaition to-day is pre. cisely what it was at the outbreak of tho war, whon Lord Deroy informed Gonrsoma. xorr that England would only interfers when Russin infringed upon her inter. ests, and that, after all the thronts of war that have been made, no En- glish interosts have yot been touched, As it is morally certain that no English in. torosts will be touched, wo may infer with equal cortainty that England will not go to wur, but will content hemelt with making bluster. England Las only two interosts in the East. Tho one is the Bucz Canal, with which Russla has no concern. Tho ouly Power in Europe that would Lo likely to en. danger this interest is France. The other intereat clalined by England, the restriction of the Russiana from the passage of the Dar. danellos, has long cecsed to bo considered o British intereat by the other European Pow. ers. It s not probable that any of them would join Englaud in any longer maintain. ing the monopoly of the Mediterrancan Sea o4 British waters, and it {s absurd to suppose that shie will seek to enforce the monopoly alone. That the Dardanelles will be thrown open to the free navigation of all natious as one of the grand reaults of this war Is a foro. gone conclusion, and England will not fight to prevent it. THE MILITARY STRENGTH OF FRANCE. Bir Ganner Worsezrey, who holds a Ligh cowmand in the English army and was the Liero of the Abyssinian Expedition, haa con- tributed o papor to the Nincteenth Century upon the wilitary strength of France, which is attracting much attention in England, and allusions to which have already Leon made in the cable dispatches to this country, His poper is signiicant in two respeots,—first, as showing the remarkable military recupera. tion of France since tho disasters of tho Franco-German war, which upsets the very prevalont theory that the political influence of France hos been anoulled by her military impotonce; and second, tho significance of Ler military strength as bearing upon a pos- sible fature alliance of the Western Powens. Although there has been evidence for some time past that MacMauox has been bending all his encrgios to recuperate and reorganize tho Frenoch military system, uo acourate atatement has been mado until now, and as Bir GanNer Worszrxy has compiled his sta- tistics from official sources, a summary of them will bo of jntereat, The new law establishes the obligation of every Frenchmim . to personal military serv- ice in the following gradations: Five years in the regular army and four years in its re- serve; five years in the territorial army and six years in ity reserve. ‘The population of Frauce furnishes evary yoar about 292,000 wen attaining the age of 20, Making de- ductions for all classes of exemptious, thero romain 183,00 rocruits for the regular army, Ou the lst of January next, ‘‘the sctive army with the colors will consist of the firat clnas of five annual contingents of 83,000 ench, plus the second clnas of the contingent for the current year, the one-year voluntoers, and the re-ongaged soldiers, making a total 504,000 men. Adding to thess the men of the second class, en derponibilits (184,000), and thelr officers (26,400), the grand total of tho active army will reach 745,000 men of all ranks, and this portion of the new organ- ization is now ‘complete.” The rescrves of the nctive army aro only just beginning their formation, bnt for immedinte servico ho es- timates that the numbers available would be 710,000 mon of theactive army, and 1,000,000 of tho reserves and territoriol army. * In ad- ditlon, thers aro to bo counted tho officors and the gendarmerie and similar bodles, and $0,000 mon told off for the nuxilinry and ad- ministrativo sorvices, making up a grand total of about 1,900,000 roady to take the field should Franco be compelled to draw tho sword within the next twelve months,” ‘Whon tho new law reaches ite full develop- ment in 1892, tho grand total will amount to 2,760,000 mon of all ranks. The total fight ing force of Germany of all ranks is about 2,000,000 men, so that it will bo scon the disparity botween the two nations is not ns groat a3 it was in 1870, It must bs romem. bered, however, that armies on paper are al- ways lorger than armies in the ficld; that thero may be an inforiority in individunl sol- diers, nnd in organization and equipment; aud that Sir Ganxer Worsxtzy himself ad- mits that the French have nover been good at fighting alosing gamo, Hesays: ** Re- verses with us and our cousing, tho Americans, serve to stimulate to increased exertion, to give us renewed oncrgy, but with tho Latin races it Is otherwise. Mlsfor- tune engenders despair. There is n want of polf.reliance in their disposition that tends to convert carly failluro in any undertaking into demornlization, and, with all people, when domoralization has once taken hold either of individnals, or of communities, or of armios, it ia likely to degenerato quickly into cowardice, The elan on which the French pride themselves 8o much is the off. spring of success, and sucoess only,"” Tho ovident intention of Bir Ganver Wotsrrey in preparing this paper at this time ia to suggest tho valuo and strongth of France ns an ally of England in certain con- tingoncies which he rathor indofinitely out- lines, In closing his articlo he says: (ermany 1s onr great natnral ally as long nsshe remains simply a mighty military vower;” shonld she, howaver, take pomsession of Holland and its colonies her only object can be to rival us upon the scn, It is 2ald ahe ta anxious to eco us embroiled in the Enstern war, 00 that she may co o withont opposition. It would, no doubt, ba passibla to na- ecimble a conferenco of men in 8, Jamee' llallwho would loudly assert that her pnuuulv-'z herself of Holland was no_concern of wura, 1f an snenty reized upon tho Isle of Wight there Isa party in Enzland that would notonty deprecate our fluht- Ing for 1L, Lut It wonld arguo {t was ne loss, —that 4t *+did not pay. "' But should the independenco of Holland ‘ho threatoned, no matter what that party taliht say, ita inipotent spluttering wonld ho drowned inthe cry for war that would certainly go forth from Land's Lnd to John o' Groat's Hovse, 1t wonld then bo tho alllance of France wo shonld natarally look to, Ilotland, Belgium, France, and Fngland allled togother would form & league that oven prond Germany would feel was too powerful for Lier to face, Thoro is another side to this picture, how- ever, and it involves A contingency which may not be remote, and which would do- stroy any probability of an alliance batwaun England nnd Franco. Suppose that the am- bitions of Germany were not limited to Hol- land, what then? Suppose that the Bis- marckian programme should run in this wise: Cermany will take Hollahd, her de- tached Luxembourg province, which would give hor a frontier fortress in place of Metz, the northern part of Belginm, and, at soms romote dny, Denmark, which is moro Ger- man than Scandinavian, She will cede to Franeo tho central and southern parts of Belgium, which, are, largely French, and soll hier Lorraine, rotaining Alsace. Thus, round- ing out hor borders, sho would confront En. gland face to faco on the son. Bupposs that Germany favored and morally nided the French Republicans In their recent victory for this purpose, knowing that she could moke nogotiations with them easier thon with tho Monarchiats, to carry out this pro. grammo, whero would Englaud's alliauce with France bo then? 'Theso changos in the future map of Europe aro not impossible. ‘Whore they wonld leave England wonld bo & question for very curious speculations, A RAILROAD BLUNDER. In the history of American railroads there hoa beon no greater adt of bad management than that of the Baltimore & Ohio Railrond in linking its fortunes with tho New York through lines, and entering into tho pooling combination, During tho time tho Dalti. more & Ohio was constructing its connection with Chicago, the people of the Western Btates were discussing the subjcot of regu. lating railroad tolls Ly legislation. The opening of a new through line to the Atlautic was hailed with universal joy. The fiuancial condition of the Baltimore & Ohiv Company gave assuranco of ita ability to maintain its independence. It had a capital stock of not more than $15,000,000, while its rivals had to declare dividends on from three to flve times that sum oach. It had comparatively no debt, while the other roads had dobts equaling tho capital stock, It had an acon. mulated surplus of earnings to double the amount of its capital stock. It had unlim. ited credit, aud its manngemant was untaint- ed with frand. It was a Baltimors route. Its earnings wero not eaten up to pay dividends on watered atock, nor enormons bonded dobla, It could denl in cash, ana was ablo to do business evon at tho same cost at lower rates than any of ita rivals, It promised to open up a now trade to and from the North- west, It was expeoted to establish a large trade in Western producta sent to Baltimore, and & return trade from Baltimore to the eight or ten Btates of tho Northweat. From Kansas, and even far.off Arizons, to Nebras. ka and the more distant Lerritories the com- ing of the Baltimore & Ohio Road to Ohi. cago wad looked forward to as & release to the produciug -and consuming districts from a monopoly ai .offonuive as it was coufiscatory, Tho City of Chicago was prepared to wel- como the Baltimore & Ohio Road as no other railroad bad been. There was nothing that it might ask that It could not have obtained. But the deliverer never appeared in that character, Instead of breaking the monop- oly, it joined it ; iustead of being an indo- poudent company, it bocame a leader in the oonspiracy ; instead of belng commended to popular favor, it forfeited public respect; aud in a comparatively brief time was largely forgotten. It is true that since then a very large trade hLas grown up between Baltimore snd the Northweat, but it has grown up in spite of the mansgement of the road. That trade might Lave been much greater, Tho cost of transportation wai the grand yuestion of the time; it afectod every man, The Baltimore & Ohio Rond,' having to make dividends and pay jnterest on capital and debt trifing a4 com. pared with the obligatious of its rivals, might have then entered into an immense business betweon Baltimoro and the Nozth ‘wost, and g nent and forover increasing. It ,..S;? 4 relation to Baltimore as the Erie Cany i to Now York ; it might have poured int, I Iap of Baltimore & trade greater {hng 1y canal gave to Now York. ‘The West had ; rolations with New York which it wm Mo ablo to shake off, and it was prepared o A with Baltimoro so far as it waa alloweg to doso, The management, howarver, if they o had any intention to build up a trad, tween Ballimore and Chicago, nbnm!one,n Its higheat aim soema Lo hate been to divigy the trade with the roadsto New York, i to make the Baltimors & Ohio Rond n Moay of reaching New York, and not of facili business with Baltimore, It wentinto s with tha othor ronds, and sinco they by been practically s much n ronte to § York na if it had no special rolations with Baltimore. While Chicago and the Norty. west gonerally have to regret the defent of the sanguine hopes built on the now rjj line to the Eaat, and while tho West sullen the loss conscquent wupon being Prac. tically compelled to maintain {ts trady with New York, the City of Baltimer, hes beon the grontest loser by this Poliey, Small things now govern. Epwanp Arey, sox, of Doston, estimntes that the contn| of the world's supply of cotton mantfaetory, is reduced to the sum of one-half centy square yard in the cost of production. Ty, Baltimore & Ohio Company might have, b, causo of its fineancial condition and its economical administration, furnished trans. portation from the West to Baltimore af , proflt for much less than either of jts ring could bave furnished 1t to New York, Ty, cost of tranaportation is of naocessity n Iargy factor in controlling trade, and where Deoply sell thoir products there they will buy, Butthy Baltimore & Oblo Road declined to net inde pendently; it rofused to do business y henefit DBaltimore or tho West, It merey threatoned the existing monopoly, and pur chased admission to the pool, sacrificingbog Boltimore and the West, Iow far thisp. foy has benefited tho Company fs told by its financlal statoments; and tho amount o its buslness in the pool is, perhaps, ‘beg. gnrly compnred with what by this time § would have been had it acted indepondenty, and Inbored for tho joint intercats of Baly, more and tho Northwost, e T— Thore does not seom tobe much promises a satisfactory solution of the financinl prob. lom in Gen. Bursen's proposition before thy non-party caucus in Washington. He pr. posed that, in caso the Silver billshould puy Congress by a large majority and should fioally bo defeatod by tho President's vew, Oongross should vote a certain proportion of the appropriotions in silver and a certair amount in gold, 'This would probably lea to finite confusion and perhaps much in justice, Thore is a better way of enforeing tho popular will, in caso tho President shal obalinately antagonizo Congress in this mat. tor. Itisthat proposed by Canten i #ox in tho caucus, aud is a plan ho gathered from the resolutions adopted by the Chicago mass-mocting in favor of silver remouetin. tlon, viz: If Congress is pushed to thy wall, thon tho Silver bill should be incorpo. rated fn every Approprintion bill pnased by Congross. This will be an entirely legit. mate, though an unusual, oxercise of thy leglalativo prorogative, and it will place thy responaibility of defenting the popular wil upon the Executive. If tho Presidont shall voto the Appropriation bills under these con. ditions, his Administration will reccive m overwhelming rebuke from the people ; if he shall approve the Appropristion bills, the remonectizution of :thesilver dollar will bare boeon accomplished, and the Government and the people will have their original option re storod to them of paying in either silver or gold, In the New York World rcceutly was pub lished a story, or rather a fancifu) autodio graphical sketeh, entitled * The 'Tender Recol lectians of Miss Ircno Macgillicuddy.” It wa o clever saliro on acertain fashionablo sct i New York who arc always muking love to the Lord Chowders and the Lord Huckleverrys wko ting frequently vieit this country. Some offort by * been made to identlfy tho leadiug characters of the novel. and the correspondent of u Cinclo- natl paper Inslsts that ¢ The Persimmons ™ wko arospoken of {n the book as having nssumed the arms of tho noble Persimmon family in Eo Kland must be set down us referring to our late Minlster to Eogland, [is freak of assuming the voat-of-arms and livery of the fame fly of which Lady Manr WontLer Mox- TAGUE ‘was & momber has been com mented upon herctofore, and whether of not Mr, 1iEReeroNT {8 really the origiual of the character, he {s certaluly near enough likeft 1o warraut the supposition. The *Mrs. s gillicuddy ** of tho story is also supposed to b tho widow of a well-known hotel-keeper of Nex York, who {a lersclf fanious fn society for ber diamonds aud her gorgeous entertainments. To the itor of The nune. Cutcano, Jan, —Will yon please settloa dis puted puint by Informing a number of your readert whether or ant the Promier of England (Bxacoxs riELy) iam Jow; and If s, what constifutes hiad dew? Can he bo a Jow and yet not of (ue Jew faith? 1AQUIKEY. (1) Lord BuacoNsriELD is a Jew by birth, but at the age of 7 years was baptized Into the Church of England. (2) Can s mau be a Roman Catholic aud yet not bo s native of Romel e — Tho nttractions of Asia Minor were nover 80 vivid fo the minds of the European Turks st prescnt. ‘Ihey are al} anxlous to go there, do claring that the Czar is no Bosphorus, e ——— Janxs Kax Arrrssxx, Esq, lectures to-night at Farwell Hall, In refutation of Praf. Bis- MEW'S theory of demonctization, and on tbe restoration of tho dollar of our fathers, ————— About this timo the Sultan becomes a carpit bagger. ——— PERSONAL. Murphy, Murphy everywhere, and not 8 drop to drink, A ukoptio inslsts that the barking girl of Chicago Is up the wrong tree. Like all tnen who want to do the talking themaclyes, Bumner did not appreciate female #0° cloty. The Jubiles Bingers have been entertained at Potadam by the Crown Prince of Prussis. 'TbeJy £o next to 8t, Potersburg. 'The natives of Coutral Africa called Stan- ley **The Little Man with Much Face,* under 8¢ 1mpreasion that be was a Chicagoau. ‘The chief advisor of the Sultan is Damsd, and the Sultsn gets occasiopally so binselt whes the advice fs not of the kind ordercd. ‘The New Orloans 7imea notices that Duo- nlog basfailed in Now York, and the oppressed editor sighs and asys he wishes it would fall ln Ne¥ Orleans, 100, Wyndbam and Henderson, the managers of the Criterion Theatre in London, and both well koown in Chicago, bave made $150,000 out of **Plok Dominoes.” - X A Toronto theatre mansger offered a prisd 10 tho boy wbo should publicly eat the moet P4 with his bands tled bebind him, tha plo belsk placed on 8 table level with his mouth. - Brot Harte li)wroaking a demoniacal re- vouge upon Secralary Evarta for mot sppoiutiof him to a Consulship. Ha introduces bim s oa¢ the cbaracters in his Condensed Novels