Chicago Daily Tribune Newspaper, March 11, 1878, Page 4

b3 i Cabl < . wcans of destoylug tho appotite for stimu. + LONDOY, Kng.—American Exchange, 449 ftrand. in cnses whero the excossive uso of intoxis enting liqnora justifies this course a3 a mensuro of business preeaution, It is in effect n red-ribbon movement in n now di- reetion. The Tetbywe, TERMS OF SUBSCRIPTION. e ——— Many pnop‘l‘;a know that thero s o great WY MATL~IN ADVANCE—POSTAG PAID, B "%:% political furor at Quoboc aud in the Cana- ey 3 s | dian proviace of which that city is the Capl- F"W" o §: tal, bat vory fow people know what it is all ‘year arts of & Tear, per mobil i WERKL 3 a N Bpecimen copies sent tree. Glye Post-Dilice address in full locinding Stateand County. Ternittances maybo mada elther by dratt, express, oat.Oftice order, orfn reglatared letters, at our sisk. TERNS TO CITY S8UDSCRIDERS, Datly, deltvered, Ennday excepted, 25 cento per week. Datly, delivered, Sunday included, 70 cents per week. Address THE TRIBONE COMPANT, Corner Madtson and Destborn-sta.. Chleago, fll. Orders for the delivery of Tiiw TRIDUNE st Evanston. Englewood, and fiyde Park leftfn the counting-room Willreceive promot attentlon. about. The Licutenani-Governor has just taken tho Administration out of the hands of the dominant party and given it to the oppo- sition, This extraorlinary action waa im- pelled by oxtraordinary enusos, and A cor. respondent hos vory briefly and snccinetly summed them up in another column. The escitoment was 60 great, and the indignation of tho ousted party so exireme, that, upon tho summoning of the Lower Iouso to tho bar of the Uppor House to receive the offl cinl notice of a prorogation of tho Legislature by the Lieutennnt-Governor, tho jnconsed mombera in a body refused to pay that orany other mark of recognition and respect to tho represontative of hor Majesty, tho Queen of Groat Dritain and Empress of India. TRIDUNE BRANCII OFFICES. Tux CricA00 TRIRTXE hias catablished branch ofces for the recelpt of subscrivtionsand advertisements as fallows: NEW TORK-Rootn 29 7yfbune Bullding, F.T. Mo~ FappEx, Mensger. PARIS, France—No. 10 Rtue de 1s Graoge-Datellere. The Eastern papors are making thomsolves ridiculous by trying to explain away the fail- uro of Lhe prices of Government Londs snd of gold to follow their predictions. The Boston Adrertiser has to fall back on * olas. ticity” as tho causc that stayed tho ruin it prophesied would rosult from the Silver law. Elnsticity is n good word, and could not be belter applied than to desoriba the way the Eastern pepers have played with their consclences and tho intelligonco of their renders, 'The New York Erening Post Lios to endura the humilistion of record- ing in its finaucial column that the importation of United States bonds from London isno longer profitable. Within ono short week after tho pnssago of the Silvor bill the depression in London, that continued ns long ns it scemed possiblo the President might defent tho bill, has censed. Bonds have gone up in Loudon ; greonbacks liave gono up in Now York, The interest. I Mamxs, Agent. TUxxy F. GiLLio, Agent. ¢ NCIECU, C: Hotel AMUSEMENTS. DMeVicker’s Thentre. Maditon street, between Dearboro *The Two Orpbans.” Flooley’s Thentre. Tandolph _street, between Clark s34 I Engsgementof Miw Faony Davenport. **Plque. sod State, allo. New Chicago Theatre. . Clark stroet, oppositc Shermsn Mouse. Engage- meat of Uaverly's Minstrels. Taverly’s Theatre. Monroa sirect, corner of Dearborn, **Unclo Tom's e Coliscum Novolty Theatre, Clark street. opposito Court-llouse. Varlety per- formance, SOCIETY MEETINGS, 1CAGO CII NO. 127, Tt. A, M.~Special R c:fir\!u:wn !)\(nnlfir ragon, March 11, at3 o Hock benring and tho non-interest-bearing debt SR TR M Y TUBEY bavo approoiated in value, ‘The Post has the wonkness to style this ““the illogical conrse of the manrkets.” Tho facts do not agree with tho fancies of the Zost; so much the worso for tho facls, thoy are illogical. The Enstorn press has been' talkiug nonsonsa for two yenrs sbout silvor, but it Las said noth- ing sillier than this remark of tho Post, How niuch influence are the Eastern papors likely to have in the next financial debato in this countx:y? THE SILVER-BULLION CERTIFIOATES, As wo suspectad thoy would do, the East. orn nowspapors have opencd their henvy arfillery on the proposition to issue silver- bullion certificates in tho samo mauner as cortificates for gold bullion are issued, and ns clearly and intelligently sot forth in tho bill introduced by Seuator CocrneLy, of Mis. sourl, If the big guos of the Eastern nows- papers can accomplish no more damage in this cago thou they did in the effort to break down remonetization, thoy are not to bo Tearcd nt nll. At tho same time, jt is just as well to spike thoir gnns early in the ght. Tho movement for silvor-ballion certiflcates isdenounced os **inflation,” * Inflation,” in the siguificanco which the word bas acquired during lato years, means wind, gus, and ex. pansion by artificiol agencics, To inflate, in tho flnancial application of the word nowa- dnys, is to cnlargo the' credits without any corresponding incronso of substanco to sus- tain thom, In tlus sense, the charge of the Eastcrn nowspapers that tho silver-bullion cortificates will be inflation is false. It is also as maliclous ds wero the varions false chargos that the same poople mado in the ef- fort to defeat the remonetization of silver. The bill iz quostion morely provides for cer- tifientes ‘of deposit representing, or checks drawn sgainst, an actual, tangible volume of procioua motal, recognized by the law of the conntry ns the materlal for coinage at a cor- tain welght, aud left in posscssion of the Governmont for safo-kecping and as o watter of convenionos. Such certificates constitute no moro of an Inflation than bank-uotcs socured by a fall amount of specio reservo kept for their redemption, nor nuy mora than checks for specio on a bank whero tho amount of specio represonted is known (o bo on deposit; and such *‘infla. tion" i3 no moro to bo deprecatod than o good crop of whoat, corn, cotton, or hogs. Was it *“inflation” to provide for the ixsue of gold certificates? Wo nover heard such a chargo brought against them, DBut the gold certiticates ura sauod ot the rate of ¥1 for overy 26 8-10 graing of gold bullion deposit. ed, on the ground that so mnuch gold {s a dollar when coined. Now the proposition is to fssue stlver cortificates on silver bullion ut tho rato of $1 for overy 412} gralns of silver 9.10 fine deposited, on the ground that so much silver Is a dolar whon colued. Wheroln consiats tho differ- enco? If one is *iuflation,” the othor Is nlso inflation ; if-ono {s not inflation, neither is tho other., Whon the gold certificatos are paid fnto tho United States ‘L'rcasury, the bullion they represent becomed tho property of the Government, and the Goverament has tho full value thercof by colning it nccording to the Goverumont function and rules; and 50 with tho proposed silver dollars. Tho ox- podienoy of this rule miight bo discussed on account of the contracted facilitics of tho Government for colning tha bullion, but any argument on this point that would be against silvor cortificatos would also bo against gold cortificates, oud ovon a decision ngainst this oue phaso of tho proposed law would only'ro- sult in the oxclusion of both forws of certifi- cates from payment of duties, and would not Lokl a3 agaiust tho goueral ixsue of certifi. cated o4 proposod. ‘Ihia would be simply a question of colning capacity and Govern- mont couvenlence, in viow of the nccessity for the payment of tha public-debt interest in coin whilo the revenuo from duties would oopte in tho shapo of Lulllon, 'The Easternopposition to the issue of silver. bullion cortificates fs prompted by the same greed aud avarico as the originul opposition to remonotization, ‘I'ho issuo of silver cer. tificates will cheapen gold ; there s the wholo watter in a nutchell. ‘Uhese will thezo- aftor be no exclusive use for gold and gold certificatos. Boloug as tho country has a limited silver coinage, and 50 long aa silver is rocognized by tho Goveynment and in commerce ouly when it comes in the shapo of a coined dollar, gold will con. tinue to bave wore or less of an artificial aud enforced superiority, Undor theso con- ditions gold will bave a special function for tho paynient of dutica and all contracts on o specis bauly, bocause it will be impossible to get more than 4,000,000 silver dollars a month in coin. Tho fact is that the issue of silver.bullion cortificates, under tho proposed lw,. will toke awey the unnatural and ex. cesvive value of gold just as rapidly us it so many silver dollara were usucd. 'U'bis mens. wre will wmonetize and utilize the idle silver @3 gold {u now aonctized sud utilized. If MONDAY, MARCH 11, 1878, In Noew Yorkon Baturday greenbacks were worth 99 cents on the dollar. The lactaro unatic with himaelf for a subjoct is printed in our columay this morning. Thero is just o chanco that the unquestionably sana may ind somothing in 4t wortli roadin Out of deferencato the dolicato sensibili tics of tho Hick Man, the Grand Duko Nicn- orss has waived somo of the festures of his proposed ontry into Constantinople, and hns consented to mako the humillation of Otto- man prido alittle loss ostontatious and cxas- perating than ho had at first designed. It would scem certain that nothing can now prevent the resumption of navigation from Chicago to tho soaboard at o soason of the yeor enrlier than it hos occurred within the rucollection of tho averago inhabitant. March {8 a stormy month on tho lakes; but wo shall soon hear of adventurous marinors waoking the round trip from Chicago to Slontreal, 8 tho ico in the 8t Lawrenco has alrendy disappeared from tho Iske to Og- densburg, Thero is no Cavil-Rights law in Caunada, and our British neighbors have always prided themaclves on thoir superiority to the Awer- {can prejudico on account of color, * A party ot trayeling cingers of African doscent have novertholess had grent tronblo ju securing hotel accommodations in London, Can., be- causo thoy wero black. An equal number of refugee whisky-thieves or suvings-bank plun. derers would have boen welcomed with every possible courtesy and attentio Nothing but tho short duration of the snow-storm on tho plains of Nebraska and ‘Wyoming prevented o vast amount of dam- nge. Tho storm wasoue of the soverest ever Lkuown in that region, cectually blocking up the roilroads, and raging with such fury that gangs of men eont out to clear the tracks wore unablo to work while it lusted. ‘The loss of cattle in Western Nebraska by ressoun of tho storm has boen greatly exsggerated, very fow having perished. Tho sormous laid Loforo our readers this morning are thosa prosched yesterday by Prof. 8wina and tho Rev.-W. I, Cnarrs, of Lrinity M, E, Church. Tho former had for his subject “Tho Goneral Progress of Woman,"” which he found had boun most rapid and gratifying durivg tho past fifty years, Tho Rev, Mr. Cnawrs talked about the red.ribbon movewmont, and in urging his cougregution to put themselves on record #s devotecs of temperance-rolorm ropeated some of the {utemporate mlstakes of mauny roformers of tho day,—among others, that of advoeating prohibitory loglslation a3 o lants, and that of classing beer and light wines nlong with whisky and brandy as death. dealing boverages, Moderation is virtue in moro things than in estlng and drinking, It will probably bo found thot there is somothing more than ramor or guesswork at tho bottom of the statemont in this wormn. ing'u dispatcles that the Bultan has ratifled tho defisitive treaty of peace, and that an sgreement has boeu luserted binding Russia and Turkey to rogard tho treaty as an affair coucerning thomselves only, aad as not rec. oguizing tho right of the Powers to interfero or revisw the cartel oxcept os relating to the questions of tha passage of tho straits and the boundaries of Montenegro, These are questions which Rusils recognizes as toucking European intercits in general, and which may properly come before the Berlin Congreas for consideration, and, it Turkoy :nkea (b1 samo view as to the limitation of the scop s nud authority of tho Congress, it way be considered sottled that they aro the only queations which will bo discussed. ——— In o lotter from a New York correspond. ent cu tho subject of Insurance, which we pfiut'lhut mornlag, sowo intorcsting Agures wro given showing the rate of loss and s puinucnt sullered by o large proportion of the fire-{nsurunco companles during tho year 1677. It was a bad year for insurance, and the cause of it was, low retes anda struggle for business when thero was 1o profit in it, Tt is quits certaln that good insuranco will not bo furnished at aloss to insurers during 1878 to the extent it was done in 1877, nor is thero any praspect of an incrense of rates boyond what is required to make both ¢nds noet, with a little to spare for the companies, at tho close of tho year. In tho departnent of life-iusurance, the fact is poiuted out that tho Trustecs and Directors of tho big cowpanies are drawing the lines rigidly with refercnce to the intemperance clause in their oalicies. and are making beavy caucellations the employment of silvor in tho money-sys- tem of the country bo confined to an issue of from 92,000,000 to £4,000,000 s month only, it will requiro two or three years heforo the stock of hard monoy csn make any de- clded impression on the finnuces of the country, whercas the issne of silvor-bullion certificates will bring the rolief at onco. Why postpono the obvious benefits of an enlarged stock of roal, genuino, intrinsic . monoy ? tor Cockmgrs’s LI, there will be at lonst 25,000,000 of silver dollars in circulation in the shapa of silver cortifientes, and this in- crease will continue in proportion to the de- mands of the country, tho increnso of con- fidenco, the rovival of trade, tho mew life given to manufacturing intorests, aud tho growth of exchanges. The product of our silver mines, nnd the stock of foreign silver that may como hera in exchange for com- modities wa have for sale (aud which we want to sell), will thus be afforded arequisito for circulation. Tho stock of available spacio being enlargod that much, the resumption of spocio paymenta to tho peoploof the country will be lightened to that extont, the flotitious value of gold will disappear simultancously because it will Liave no rpecial function, aud tho resuit will be tho circulation side by side of silver, nnd gold, and paper redeemable in silver and gold, as is the caso In other coun- tries doing business on a specio bosis with a paper curroncy redeomable in species — Washington aro just now grappling with the scale of dutios on wools and woolon goods, They adhero to the old policy of having a special rato of duty for overy grade of overy class of goods. Specific duties lovied on ad valorem prices nt the place of oxport are made with great minutoness, Thus tho rato on women's and children’s dross goods coat- ing 20 cents per square yard was fixed at 12 conta per square yard, or 60 per cont. Dreso goods weighing 4 ounces per squaro yard and costing 20 cents per square yard are to be taxed at the rato of 80 cents por pound. Reduced to direct figures, this proposition moans thnt if four ounces of dress goods cost 20 conts in tho place of purchaso, that will bo at tho rate of G cents per ounco; and o duty is to bo charged of B0 cents per pound, or b cents an ounce,—n tax of 100 por cent. The rost of tho wool scheduleis upon the same scale, and this the Committeo think is o roform of tha tariffl plements snd techanics' tools, the Amerlcan inanufacturers of which havs an scknowledged superiorlty, and which one constantly sces ad- vortised and landed, the place of the Norwegiun woods so exteusively {mported. and LEuglish makes on account of tholz twa cardle nal virtues—superiurity and cheapaces, ing import, whil knuwn to require comment. Al!:flrllcn 1 astonnding, and the trade le capable of o 8 callod popnlarity. growls noces: clated, cansed by brulos in gathermy and barreling, Shippers should look to thls, fur slthoogh imper- ceptible when frosi, damags to tho fruft by tho timo It arrives here. ‘lmlcnt vor) o lesson to tho Commilteo on Ways and Means, which that body scems unable to comprehend, Ho says: prico inEurope,. whilst Rllut, worth 1¢ hd pur times 1o price at whicl way r.mcnm that goud, uscful, audwara waterlal fur bls coat. case (buutiuge) it smounts 1o 1o less than 125 per Within a month from the passage of Bena. TARIPF ROBBERIES, The Committeo on Ways nnd Means at In admirablo contrast with tho obtuseness of thoso who control tho action of the Com- mitteo on Ways and Menans on this subject of tariff revision is the rccently published report of Col. Ominuza O. Sneenznp, the Americon Consul at Bradford, England. Acting under speclal instructions from the State Department to suggest what now branches of trade might be established be. tween this ond other countries, and os- peolally for information touching an ox changa trade with his Consular district, ho has sent homo an claborate report. Here are some of his suggostions as to an {ncreaso of our cxports: 1n thls cataloguo I shonld place agricaltural im- Our roof-slates nod Inmbar might largely take merican watches aro fast displacing the Swles Fork (Iuclm!m{ bacon and hanis) 1s o fast-grow- o tho trade in beef i3 tov well ‘e amount of butterand cheeso brought from greater fucreave, Tho cheoss s commonly *Cheshire™ (o favorito sort), to givoe,it Lard, tallow, and cggs meet witha continually demand and ars eltln& to be "'fi: iteiw, l’c\rc‘:lonm fuenormously used and has becumo & sity, Our applesare especlally sought for and appro- it » preat dmwback 18 their speedy decny, each brulse becomes o sorious ‘The traflicio dried sud preserved fruits js ot argo, but, of all othors, 1 look to soo his trade lucresse, ‘There Iso fleld for wunder- ful cxpansion, and the trade ls only in its infancy, .In o fow brief paragraphs tho Coveul rends In my humble Jndgment, an sbolition of dutles on tuo raw materiol of woolen manufacture, iu- cluding dya-stuils, such s are not prepared fu tho Unitcu States, wonld bo American manufacturer, Pplace bilm in o position to competo with the Engieh manufaciurer protective duty un worsted und ' sil-wool goods aulte”unnocestaty, A could bo profitably rotained fortho purposcs uf ravonue. A great ndvantago to the 1t would, I believe, n forelgn markets, dud render o simuple ud valorem duty Awerican, Canadian, English, and Australisn wouls, molialf aid the hairof the Alpaca iont, ditfee'in chiaractor and quality, each from the other, most radically, Amvrican wool hew na lustre, henco, of course, lustre guods cannot be mude from it; ond It the Amurican nanufactorer desircs to fabricate lustre 50?11, he wust noed uty. and ln favor of lils furelim coul tent of tha duty pald on the wool oad tho necossary cliemnicals, the Dopartmont, With 1ts suparior wisdom, to the subject. {mport the wool and puy a This would socm Lo oporate ayetnst Wi, potitor, 10 tho ex- Jonly dusire todraw the attention of Notwithstanding thess facts have beon presented yoar after year to the attention of Congrosa, the tax of 80 to 120 per cent on wools of tho kinds not produced in this country hos been maintained. Col, Suew- ueno farnishes many dotails of tho opers- tious of our tarif on tho different kinds of woolen goods, being prohibitory, that class of woolen goods cannot be wauufactured in this coun. try, 8o wo fmport the flue ocloth while cheaper goods are taxod opprossively, is on Mustration: Thus the tax on fine wools Hero “Phus a suporfine black broadcloth may poasib] bo bubght in Now Yark 8t uatniore than doubie (s vood quality of black canuut be ¥old to the fian frome four Lo five n operative in England mcFican taborer at I Bradford producca what are known as women'y and children’s dress goods, and on this subject it is shown how we punish and rob oursclves in an offort to suppost o sys- tow of genteel pauporism at tho: exponso of consuwmens. ‘I'he papers accompanying tho Toport states ' ¥ 0od vatles from Thn&nnunl chargo on theso 060 to ore, bal in vuo per ceut on the Yuluo cent. “‘hus lastinge and itallans, both articles of vury Feuml cousumptlon, bave to be vpeclally mauu- actured for the Anicricun markel by reduclng thelr wolghtso as to brlug thew witbla cortain weight liwits, and they thue Lecomo too ligat tor tho segulur wear and tear. The samo urticlos vent tu countries which lmposaa stmple ud calurem duly are made Lesvier, stronger, snd sonvequents 1y much wore nsoful t'the wearer. ltalisus fnteuded for the buttun manufacturer aro wdmitted ata redticod ratv of duty if they sre punched wilh bales i every uine lucbes in iho whole lengih and width of the plece, ‘Tho buiton manufacturer i thus fayored, sud wholusule tatior of boot manufacturer is-uot. A typical inetaace of the uutoward cflucis of the tariif, given du theappendis, deservesto bespeclally quoted. A pleco of fancy dress-goods, £ juchey wide, 50 yards lonz, and weighing ovor 4 ounces per square yard, it wade frow- cheap material tu sult the means of tho working class, and costing Od per yurd, would bay duty st the rata of 104 por cunt of ihe value, whild 4 piece vf thy sawo welgbt aud dimenslons, but made’ of wore coatly mates aud worth 12d per wzd, bs cuarged GU pet cont. 1In the mutter of light woolous, it iustated: Light woolens are cither composed of wool slons or wmlxed with cotton, und are used for tuen's couts of ludics' clouks. They ure gene wade of wore cxpenslve waterial than the Licavy wooltns, ‘The welght duty doca not bear the same refation totue value, which prevents all tradu with tho Stutes In low fubrics, und, as bas becn explained THE CHICAGO erful. TRIBUNE: MONDAY. MARCH 1L 1878, before, theso Tight woolens arc aold to cnstomers swith whom prics {6 no object and fashion all-pow- Wherever In the subjoined Msta the daties do- Acend to 100 per cent of tho cost the article bolongs 1o this class of goods. The comparative taxes lovied by the United Statos and other countries nro thus givens (1) tho duty on mized Bradford stuff goods snd (2) on mixed woolen cloths: Der cent; Per cent Hambueg ... oral columna more, The opportunity for an export trade in manufacturoes is forbidden Ly tho tariff. Wo can neithor buy raw ma- torial nor con we oxport tha manufsctured arttelts, Thore are soveral branchosof trade whero the manufacturers have cut loosd from protection and aro selling their prod. nets in England, in open compotition with tho British goods, but wo are prohibited from buying in oxchange. The singlo arti- clo of English Drussels carpot, sold at Brad- tord for 54 conts a yard, is so taxed that it cannot bo sold in this country at less than $1.04 per yand, and this is dono to compel tho consumers in this country to pay 80 cents a yard bounty to the men who are *‘pro- tected” by law. From all appenrances, the ‘Woop Tariff bill promises to be a mero rope- tition of all its swindling and blundering predecossors. THE POPULAR FIFTY-YEAR BONDS, . Tho Sonate has passed, without any scri- ous opposition, a bill providing for the issuo of n long bond having ffty years to run, aud Dbenring 4 porcent interest. Thobondisoffered to the public at par for gold, greenbacks, or silver, and in sums of 325, §50, or 8100 "Tho bonds aro redeemabo fifty yesrs henco, or in the yenr 1928, in coin, and the intorost i3 to bo paid overy six monthsin coin, This is procisely the kind of bond that Tae Tatn- uxe has beon advocating for many yoars, It should have beon offered saveral yoars ago. It is the first timo the Govornmont has cnt itself Jooro from tho syndicates and baakers snd offored to the people of tha United States an opportunity to take any of the national bonds at par. In 1877 subsoriptions wero received for 4 per cent bonds, but thoy had to be paid for in gold. Now tho bonds aro offered at par in cxchango for coin or groenbacks. Any person hnving $25, or $50, or $10Q, can doposit his monoy at the Sub. Troasury and rocoive therefor a national bond. Until thero shall bo somo satisfactory or- rangemont for tho Governmontal keoping of saviogs, these bonda will furnish the public with a convenient and most available sccurity for thelr monoy, Tius bond will nlways have n proference over tho other 4 por cont bonds, beeanso it hos longer to run; those lierctofore issued having but thirty yoars, whilo this Is not payable for fifty ycars, Tho ouly error in tho bill Is that it limits the iasua of such bonds to $100,000,000, when it ought to bo limited only by tho amount of outstanding bonds bearing higher rates of interost. It might nlso offer bonds in the sum of $500 snd $1,000, 8o as to afford ovorybody an oqual chanco. Tho ‘bond bolng obtainablo at par for greonbacks, tha bond and tho groenbacks will probably rotain at oll times {ho samo valug,—certainly the difforence will nuver exceod ono-half of 1 por cont. Thoy will naturally be sought Dy all banks and other institutions as an in- vostmont for idlo balances, Bhould there, at ouy time, for any cause, Lo a scarcity of ourroncy, those small bonds will become ovailable, and will circulato frocly, not only in psymont of dobts but in paying for pur- chases. At least £100,000,000 ought to bo reserved for the bonds of small denomina- tions, Tho domond for theso bonds will bo continuous, not merely to moet & want ox. isting this yoar or tho noxt, but during many ycars to come. When business shall re. vive and labor Lo re-employed, and the wages funds ogain distributed, and the country still mnoro expanded, tho purchase of ono or more of theso bonds will Locome an object to ba accomplished by tho industrious and thrifty peopls engaged in oll monner of employment. Tho saving that will accomplish the firat 325 bond will not bo eatistled with that, so there will bo o domand for these bonds that will continue &0 long ns the Governmont will have a bond to soll. Their groat value is their exchange- ability, -‘Thoy will always be accopted in poyment for any purchaso, They will be valuable as collatoral on which to obtam loaus, and will becomo tho most popular of nl forms of Government socurities, Bpeou. lators may, if thoro be any limit on the mmount to be issued, scon ab- gorb thoso in tho market; but, so long ns tho Covernment will continuo to issue tliem nt par for greoubacks, there can bo no speculation. 1f, on tho other hLaud, the prica of theso bonds ehall fall below par, then tha purchaso of now bonds will conso nntil the supply on the market sball bo taken up, when the purchase of bonds from the rensury will bo resumed. Wo see no rea. son, so Jong as the Guvornmeant will keop thoso bonds for salo at par, why their sale slinll not bo continuous until the wholo pub- lio dobt, now invested in G, 5, aud 4} por ceuts, shall bo refunded in those 4 por couts, This Lill ought not, aad we Lopo will not, have auy serious opposition in the House of Reprosentatives, It 1s tho firat moensure yot presented to tho poople free of all talut of jobbery and syndicucy, and permitting the poople to have a fuir opportunity of showing Aloir own faith in their own Government by juvesting thelr spare money. in the public securitios without boing compelled to pay some middle-man for the priviloge. —e NAST'S MISDIRECTED GENIUS, Tuomas Nasris undoubtedly an artist of considerable merit. If ho does not possess goniuy, Lo possesses something so uea.ly akin to it that his cartoons appeal strongly to the popular eye and touch the popular hoart. In the late silver controvorsy Ar, Nast has endeavored to throw light by cari. caturo upon a great economio question. It bo hag failod, it is perhaps bocauso the sub-. jectis for romoved from the realin of son- timent,—a subject with which heat and pas. slon havo no logitimate conncotion, Ilis Last cartoon in the current numbor of Jlarp- er's Weekly, outitled -* Always Killing the Gooso that Lays the Goldon Egg,” i based upon a theory conspicuously falss in fgro rospocts: (1) That capital lays golden eggs, wnd (2) that labor {s ignorant. Capital of itselt nlone is an inort, belploss mass; it uot only, unaided, laye no golden eggs, but, un. der tho silent infuence of the univorval law of decay, gradually waates its wubstance. ‘The unoccupled warehouso yields no income. The uncultivated ficld produces neither lightened nations befors the Ohristing era wheat nor corn. Tho flocks and herds ‘““upon a thousand hills,” whon no longer restrained by the hordsmon and their dogs, bacome wild, and lose their character ns “property.” 'The British consol, the ‘‘atondiest” seourity in the world, will logse nll its valne on the day whon it is known on the Exchaogo that the Government has ceased to imposs aud colloct taxes to pay tho intorost, This is a universal law in regard to onpital. Labor 1s tho goose that lays golden eggs, and capital is ncollection of tho oggs. It the laboror isa providont, wise goose, ho will, even at the cost of privation and hardship, hoard a share of his golden oggs, and so savo himself oand his family from the pinching grip of poverty and dospair. The central figure in Nast's cartoon isa pictare of amechanie, with paper-cap and leather-apron, labeled ' Labor," staring with an air of stupid, blank amazemontinto the slaughterod goose, gashod by the knife of the *‘ Communistio statos. man." Tho Iaboror, dopicted as the porson- ification of ignorance, with a golden egg protruding from hispocket Inbeled *¢ Wages,” is reprosented ns horribly shocked nt the gloomy prospect of no more ** golden egga”! o s plotured as all unconsclous of the fact that tho roal question is, not whether tho goosa—capital—can bo brought tolife, to lay mora golden cggs for his sustenance, but whothor it can bo resuscitated to reccive o sharo of tho goldon oggs that Labor shall Iny in the future. Mr. Nasr shows a contempt for Inbor which mnay bo just as applied to the laborers of a contury ago, but which certainly has no proper npplication to the laborers of this timo and of this country. Tn tho wonderfal progross of tho mechanic nrts thronghout tho world, ond especinlly in tho United Statos, tho cunning hand of intelligeuce is plainly visible, Tho achievemonts of the railway, tho tolograph, the cotton gin, the sowing maching, the resper and the wmower, domon- strato the fact of a wide dissemination of intelligence among tho massea of tho people, Tho hand of tho laborer mo louger merely executos tho fecble powors of the muscles of the haman framo; with the ald of the intel- leat it directs tho grandest forces of Nature, binding them to tho will nud moking of them servonts of mankind., Only a brond intolligence can divect theso forces; and, if it bo true that theso forces woro firat discov- ered, subduod, and opplied to their soveral usos by the aid of tho deep rcsearch and profound inquisition into tho secrots of Na- turo, of trained intcllocts, it is oqually true that the brain and hand of the laborer roquired to be, oud was, trainnd to a vastly higher degreo of intel- ligonca in order to utilize thom in the practical affairs of life. To depict labor, dnder theso conditions, as dull, stupid, and unreasoning, is to ignore the thanged cir- cumstances and character of tho laborer. But Nast had o particular object in view in tho proparation of his cartoon. Ho wishied to make it sppoar that tho late Bilver bill (now a law) was an assault upon the rights of capital. To nccomplish this purpose ho ropresonts tho Congressman who supported the monsure as o “ Communist * slaughtoring onpital, and labor 08 an ignorant boor re. garding his work with stupid dismay. Thero is nothing truo to life abont the eartoon ex- copt (to mako an Irish bull) the doad goose. ‘The gooso—Oapital—is in fast dead as ropre- sented, since tho ultra goldites have so ham- pered industry that thoir copital has consed to bo productive for want of employmont. strange aro cbjectionable, thereforo, simply beenuso they aro new and strange. Althongl the ancients had no concoption of pogress, thoy had the thing. If there hnd not Dbeon progress within certain divisions or compnrimonts of the human rnce, tho world wonld not now bo at the high stage of advancoment which it hins renched. The ancienta moved slowly and reluctantly, but they moved all the samo, Thoy coverod the evidonces of their progross with every concoivable devico; donied it in tho most solemn language, and worghed it down with tho ruins of an obsolate civilization; but _umy could not prevent it. Evidences of it wore constantly appearing in thoe gaps which aroso botween the laws and the prac- tico of the people. Tho laws remained ns vast moraines marking the former bouundarics of human knowledge, while socioty bad ad- vanced, with a slow and imperceptible move- mont, to a nev position. Maixg, in his vory remarkablo ossay on Ancient Iaw, shows how the gaps botwoon theory and practice wero bridged by Fictlon, Equity, and Legislation. Tirst came the invention of o form by which the obvious discropancies wero reconciled ; next tho referonce of faols to n aupposod shigher and moro notural order ; and, thindly, the rocognition in Iaw of a state of things nl- ready established in the minds of men, Theso soveral processes serve to explain how the progress uatural to tho race was concenlod and provided for; but they do not satis- factorily nuswer tho question, How did this progross itsolt arise? If tho imitative toudency wero ns strong ns represented, how wna it ever broken? Somo races never have brokenit. It may be found existing to-day amoug tho Chineo, for instance, who are tho maater copyisly of tho world, Every- body can recall the fomiline story of the Chineso servant in California who, nftor socing his mastor break the furniture, faith- fully broke moro; and it is a well-known fnct that the Chinese, in spite of thelr sup- posod ignorance of perspective, ean repro- duco o miniature perfeotly, though thoy could uot origiuate one. Cmsntes Laun, who was as littlo ns possiblo of s philosopher, illustratos tho same tendonoy in the ossay on the origin of Rtonst Pig, with the dileronco thot in practica the imitative nations do not odopt ‘nccidents ns n part of thelr scheme. But, though untions like the Chiuese have nover broken tho fetlers of custom, other nations have dono so, Europe is full to-day of tho monuments of progross. L'hose Lave been crocted by cortaiu races of men, in cor- tain conditions of soclety., The clinnges havo taken placo always in States whoro the Govornment was to n groat and growing de- gros a Governmont by discusston, According as this prineiplohns provailed, it has wronght liko n loaven among old custons, bending and shaping thom aunow, or nbolishing them oltogether. Ouco introduced ns o froo oloment In CGovernmont, it can nover bo eradicated. It hns consequently grown s a political aud moral force in pro- portion a8 1t hins beon used; and it remains to-day the greatest factor in iutelleotual ao- tivity. Discussion, theroforo, hns a sciontifio basis in civilization; oud the bonofits of it aro cstablished ia tho historios of thoso na- tions which, by memns of it, have become the most powerful In the world, ‘Tho Latin Unlon was formed In 1885, and sfns then the countrles composing it have cofnes bundreds of millions of aliver monev, When! tho United Btates have done the sawe to the extent of ghireo or four hundrod millfons, it will bo time enough to call a halt, and order o reduced colnage; but it ts perfectly 1diotie to be talging of the “dangera of silver Infation ™ be- forc a single dollar pleco has been struck off; but these New York papers—all cxcept tha Graphic—appear uiterly dovold of scuse on the colu question. e ——— Ninety-nine years ago, Count CA31MiR Poras- Er'was killed while conducting an assault upon Bavannah, Ga,, then in the posscssion of tha British. An outlawed Polish nobleman, lie had met FRANKLIN fo Parls, and Lad tendered his gervices In beball of the Amerlenn revolutions fsts. A lotter of Introduction from Franxrin 10 Wastinaton fosured him o prominent come maud In our army; He died fn action, yet thig Government has never recognized his services nnd the only existing ;mcmento of Putiskiiss monument erceted by the cilizens of Savanuan A bill has just been futroduced into Congress ta pay §100,000 to Joserming SUPPERYNSKI Ja. ROSK1, the only surviving descendaot of the famous Pole. This amount {s claimed to cover his unpaid pny and penston. It would seem to bo a rather large estimate, and should bo care- fully scrutinized Ly the House Committee be- fore whom the evidence of the claimant will be presented, It is quite likely that some privato speculation may be hidden beneath this appa- rently Innocent attempt to Induce the Govern. ment to cancel what s, to a certain extent, a Just obligation. 1t was a werry remarkablecolneldence, but just 23 It was announced that the President thought of rcopenivg the question of the Now York customns oflicials, it was announced that Mistsh CoxxLING was about to deliver an oratlun over the body of Mr. Ilavcs. Mistah CoNruixa is slways threatening to deliver an oration, but never does? Frinstance, o littio over a year ago Mistah CoxuvLiNg threatencd to dellver an ora- tion upon the Loulelana Vote, and kept on threatening tiil the New York Democrats ap- polnted his henchinan, 8srmit, to the Insurance. Comnissioncrabip, We fear that Miatah Coxk- LiNg i8 lke the jovinl Boniface of the Western wilds, who used to fire off ono barrel of hisgun to call his boarders to dinucr, and kept the other barrel to collect with, If Mistah Con- LING succeeds In collceting, he will not need to fire off the sccond barrel. —————— Bellevers In miracles will read with Interest tho story of an actual occurrence last Wednes. day night ot o prager-mecting near Rochiester, Iud, Beveral young men, including Ronent Kina and ELtas BipiNagg, went to the meet- fnig to make sport of it, and to creato a disturb- auce. They were rcasoned with by the pastor, but his exhortations were in valn, Buddenly there camo up a thunder-atorm, the church was struck by-lightning, and BipiNong was instant- 1y killed, while the soles of Kixa's fcec wera terribly blistered, As soon as tho latter ree turued to consciousness hio was converted, and the meetlug adjourned. ——————— Evening papers, as a rule, aro not particularly Tively, but it is not often that one can be found as deadly as Joun Knunx's evening paper, the New York Xrpres. A Tow- many ofliclal eat down one cvening last week to read that paper and dled in- stantly. A match between the Ezpres and the Lightniog-Bug Exterminator, best seventy- soven Tammany ofiicials out of one hundred and fifty-thres, would, wa fancy, be o very interest- oz and popular oue. e — * 1lvam 11AsTINGS, Of the New York Commervial Advertiser, has scaled his altitudinous car, and from that proud eminence haughtily declares that he Is not asklng favors of tho Administra- tlon, aud s * not the sort of Individual to give or take any sweet things of such a Republican Administration asat preseut exists in tho White- House.,” N-—ya-as! But sn't thls HasTixes the same Republican editor who used tonsk favors of Boss TWERD In mighty fatercstiog let- terst ——— About this timo of year, tha Democrat with a big dlamond, & heavy gold chaln, a aplit-sccond Jurgonsen, and au uoconquetnbls’ aYéision o " ten-vont cigars or common whisky, may be seen in strong Republican nelghborhoods atriving to get up Labor-Reform movements exclusively in the interest ot the down-trodden workinguan, of which ho pretends to be whom, et Tho very noxt day (March 5)after the Now York Iferald turned its somersault on the silvor question, and admitted that all the prodictions of ovil from romonetizing silver wero humbngs, it opened out anow campaign equally fraudulont and full of froth aud folly against tho enactment of tho Cooxnzry Certificata bill. Thia Bonate bill proposes to placa silver bullion on an equal footing with gold bullion deposited in the Trensury, It authorizes tho 1asue of certificates of deposit to tho owners of silver in sums not less than 820, What is thoro wrong in that? Buch cortificatos aro fssucd for gold bulllon. It roquires the Governmont to receive those silvor-certificatos for dutios and taxcs, and thon koep tho silver and coln it into money. What is thero wrong nbout that? Tho samo thing is now dono every day with gold bullian, Is ic any worso to do it with silvor? ‘The *flapdoodle " Herald says **Yos," and gives us a renson that gold bullion fs worth por aud silver bullion only 92 por cent of gold. Dut tho cortificatos is- sued for the silver bullion are not made re. doemnblo in gold, but only in silver coin or groonbacks, Tho Jerald statea falsely when it calls sllver worth 02, for ita own quota. tions show that it is nearly 04, and rising. 1t was only a little while ago that tho Herald denouncod silver dollars na dobased mouoy, worth only 00 conts. It has moved along 3 por cent; but it is still 2 per cent be- hind the trath, Bat tho MHerald of the dny bofore threw up tho sponge A THEORY OF PROGRESS. Me, Warten DBaoexor, in his *Physics and Politics," advances a theory of Progress whieh, though it may not be strictly orig- inal in substance, is at loast novel in form. Ho holds that Progress, instead of being tho normal fact in human soclely, is a phe- nomenon peculiar to certain races and times, Tho ancients, he remarks, had no concoption of progress. They did not somuch ns ro. joot tho idea ; thoy did not oven entortain it, The theory which controlled tho moat en- ‘Iho avernge collego student of muscular gifts is getting in trainlug for the regatta season. May he be unvexed ot boils, but Oh, It ko snd his follows were to apply their muscular energy to tho sphiting of cordwood and the making of roads, what a future might there not baopea tor the American Republic! R e — Scuator CONKLING has not yet commenced the bombardment of the Whito House, as ho finds it Qifcult to loy In o suflicient stock of bricks, tho plic baving been pretty noarly ex- haustsd by Bax DurLan. o e—— Happy thought! Iow to run the Clty Gor- crnment for swenty-six hundred years without calling on the taxpuyers for a cont—collect the fortulted bail-bonus. y e—p—e How Idiotic 1t s for sdvertisers to eay, * If this should meet the eyo of So-and-s0, he Will hicar of sometbiug to his advantage.” was that man had descended from a stato of naturo which, if he could regain it, would prove to bo the perfection of carthly govern- ment. Honco arose tho known law of na- tions, or jus gentium, This was supposod to bo tho ombodimoent of principles that were always and everywhoro truo. Thoy wera dorived from tho customs that were found to bo provalent among all tho nations with whom the Romans in tho carly days treated a8 oqualy, Whatovor was found to be the custom in Carthago and Macedonia and oll other parts of the then awilized world waa ocstcomed an ordinance of Naturo more sacred than any human law, The cxistonco of costoms thus e ——e— . And stilt gold goes kiting up like a water ‘“‘l;: u'““y i "“"‘“’“‘”d“ ,11"]""]““:':'“ 8|on silvor aftor {t wos oofncd into | logged shipl condition of progross. **Tha log; 0," | dollars, nnd ndmitted that the n e ——— 85 Mr, Baczuor calls it, could not be formod | gitvor . o PERSONAL. silvor dollar would bo nbout oqual in value to the gold dollar, The silvor cortifi- cates will sdvanco to tho same level, and thon tho Jlerald will tarn another flop, and come ont for the identical thing it isnow denounc. ing and slandoring, It calls thoso, silver. bullion cortifientes ** a schemo of inflation,” showing tuat tho Herald docsn’t even know tho meaning of the words it employs, Infla- tlon is dilution,and is in tho nature of gas, or air, or steam oxpansion. But bullion cer- tificatos are ovidences of ownoralip of tho Lieavy, hanl, solid stuff itsclf, They are the farthest remove imaginablo from * inflation," ns they vopresont intrlnsio valuo, and some- thing that will neither burn nor rust, dete- riorate norcorrode. Bilver-bullion cortificates are no more linblo to tho charge of inflation than tho gold cortificates now authorized by law, The bill simply placea silvor on torrug of equality beforo the law with gold. The bill must bo passed. eme—— The New York Herald has beon one of the most reckleas maligners of the Bilver bill. Without the ability of tho New York Zimes or Tyibune, World or Natlon, is lias exceeded thum oll fn vuigar vituperation, aud what Scuutor Joxescall *flspdoodlo.’ But iu its fssue of tho Bth fust. it flups,—turping a complete som- ersault, coming down sprawliug on the silver side. ‘This s tho wuy it tulks alter its tlop: As soon a8 tho amended Buaxp bill had poased over tha President’s veto the Jlerald ceased to do- nounce it and dotermined to treat it with the re- apectduv W s law of tke laud which iu not hikel 10 bo Tepsaled until practical experivucs of its lrl elfccts suall have wrought o changy in public opinton, . .+ . }f & papor carrency of ko ine triveic valuo can be brouglt to par by & dumluation of its quanilty, shiver wonvy, whichi hay un latrin. ¥ic yuluu. can easlly bo mainiaiued at par by lmit. {ng the yaaniity fn circulation, as ls done in France snd other biatus of the Latln Unlou. Wy have, tbierefore, nwver fearod the immodiate oflact uf the vilvor bill, cxcopt on tho oublic crodit. ~Wa did potexpect a fall 1 tho prica of our bonds, for reasous whica W stated ‘in dotail more than 8 wonth agu. We did not espect any msterial chapie lu Lba price of &:ld. for the vremium on kold uerely expresacs the relation of gold to legals teuder notes. Audsoou for a column asud 8 quarter of similar crawtlshing gabble. As to **Franco and the Latin Union lulting the quantity of silver {n circulation,” §8 will by time epongh to imf- tate thew when we bave fitied up with sllver colo. Francs did not stop coluiug silver unth she had about 400 millivus ‘of five-franc ploces io circulation. There has beeu & beavy cofo- age of lezul-teoder allyer.in Frsuce eyer sluce sha eatabi\bied the bimctalllc systew. until soclety had carricd ita inductions along o conafderablo distance snd made tho most obvious gencralizations from them, Onco formed, howoever, the legal fibro becamo an obataclo to further progress, Whatover part of it waa not necessary to preservo tho peaco noted o4 o drag upon the froedom, and somo- timos even upon tho intelligence, of indi. viduals. It was a crime equally to do or to bolievo what Government had not decroed, the modern theory that all the forbidden things wers nominated in tho laws being an sucient imploty, In Rome and Bparta it .becamo a question of paramount jmportance to know what the practioo of tho fathors was, and it was an act of bad morala to question their wisdom, Borox and Lrcusaus, in the oarly days, wero the only lawgivers, becauso thoy exhausted tho subject when onco it was committed to them. Athens, where an at- tempt was mads to rojoot the received notions of suthority, becamo an awful warning and oxample,~—tho great *‘freo fallure” of the ancient world. ‘f'wo forces operated to keep the anclent communities stationary, Onc of theso wos the propensity of man to fwitate, This pro- pensity is o part of hmman nature, and is as strong to-day as it was 2,000 years ago. Thore is & oynical doctrine, as Biaxmor romarks, that most men would rather be aocused of wickodness thau of gaueherie; and gaucheric, afler all, ia only bed imitation of monners, Tho imitativo part of our nature is our bolief. Uubelief far oftencr noeds @ reason ond requires an effort than beliof. Thus the iufection of imitation catchos men in their creod as woll as in their manner. It is ono great reason of the amaz- ing samenoss which every observer notices in savege nations. * When you have seon ono Fuegian, you have seon sll Fuegians, —one 'Iasmanisn, all Tsunanisus” A second forco which helped to keop old natlons statlonary wos cuting tendenoy, It is almost a conso- quence of the imitative tondoncy. The same instinct which leads neu to hnitate juatifies them in making imitation compuliory. Faulty imitation is, by parity of reasoning, wrong; aod o failure to imitate both a pri- vato and public offense, Tho now aud tho John Morrissey will return from the Bonth next week, quite restored to healtn. Camille Deswmoulin's ofticial scarf has been found 10 Frauco sod plsced In & museum, Two bundred members of tho Athenlan Dar have signed an address to Jambetts, thanking - Lius for the tooo of his sriicles In the Republique Hruncalse on Hollonlc subjects, ‘That article of Heurl Ltochefort's on the Papsl Conclave brought on the Jevell's managet & Bnv of 3,000 fruncs and an mprisonment of two wouths, ‘The Lardest part of the natter for bim was, (iat Lisd Leen the lust fusue of the paper under Lis mansgemont. Our Minister to England, Mr, Welsh, hat called the sitention of tho Lritish pablic to the fact that the sluwnl of Haverford College, Ps.o offcr §250 for the mowt practicable plan for proe woting the vpeedy substitution of judicial for vio+ Ient mothods of ssttling international disputes, ‘Fhe ubiquitous **Ell Porkins" Las found a contonarian lady at Plymouth, Mass., who 8378 she know Danfel Wobster as g boy, While he was at Marshfeld, this old lady declared, Danle] was & gond boy, but after be wont to Boston he took to drluking and carousing, aud, she belleved, never amounted 10 much, . s she nover hesrd of bim alterwards, London editors, despito their imperson- ality, manago to raiea large crops of enomies, We Lave noticed tha refoction by tha Athenwum Clab of Alr. Walters, M. P., and proprictor of the Lon- don Thines, sod 0o uther well-known juurnalist has boon grilled un the ¥ame Ore. Edmund Yatsh of thio World, bas been blackballed by the Deel- Steak Club, an organization noted forlato houss and excessive conviviality. ‘Thero weore two conspicuous omissions from Pope Piua 1X.,'s will,—thoss of the named of Don Carlos sud of the Friuca Imperisl. Thih howavor, {8 susceptiblo of explapation. Kiog Al fonso's Government has been oa very good tesms with the clryy, who bave, therefore, discoursged any Carlist outbs snd the Protender's lost cause generally; sod se to Eugenlo’s son, though Napoleon L1l upheid the temporal power slogle: banded for many years, the Pope nover cesscd 0 regued bio with aversion, . Hereis the text of part of the lato Pope® wiil, which was all {a bis own writlng: ** My body whall, ofter desth, be buried in tho Chburch of 8t Lawrence, witoout the walls, under the litl arch (thu atone on whichsre theatainashown to the pious 24 thoso of tho martyr’s blood). ‘The mwonuwuent L0 o erected sbove tha grave ahall notexceed i cost 400 crowns. 1t sha)l bear this inscription: *0sss ctcineres Pit., P IX., Bum. Poot., Vixiveon. — ¢ 1u Pontlfcatu ann. —, Orate pro eocl*” Inlley st cgcutchoon, the Pope asked that thero miglt b0 caried & death's-bead sad cross-bosce.