Chicago Daily Tribune Newspaper, July 24, 1878, Page 4

THE CHICAGO TRIBUNE: WEDNESDAY, JULY 24, 1878 e e e e e e e e e ——— torn up and the rails twisted and tios burned by fires fed with conl oil. The old contro. versy which led to tho bloodshed of & tow woeks since is ronewed in the presont ram- pus, and the ond is not yet, sinco the rail- rond company declars their determination to renew operations to-day, and to resiet with an increased forco all attempts to hinder their work. Last evening, the Bowuax and Wipen factions got into another row, and in the mecleo several persons wero wounded. m—— Jax Cooxr. a3 a bankrupt does not pan out much botter than the average of bankrupts, and the army of creditors still view their dividends from afar off. 'The list of esscla wns & mighty one, including $3,810,000 in bonds, shares, stocks, and mortgages con. sidered good; 93,030,018 in housis, lots, lands, stores, bonds, wator-powera, oto., all over tho country, considerad uuccriain in npproisoment ; and the assots without ape praisement swell the smount geveral millions more. 'These havo beon in the Trustee's bards for five yoars. Had the immense list of real estate beon converted into cash four or fiva yenrs ago, it would have bronght a handsome sum, out of which some honvy dividonds might bave beon mado ; but it has bLeen held all this time, with taxes and costs ealing it up, and has beon steadily depreciating, During the past fivo years one little dividend of 5 per cent has ‘been paid, and now a very indefinito stnte- ment is mado to the effoct that tho Northorn Tacific bubble may yield 40 por cont, while s to the other nssats, the Trustes has sug- gested n plan by which he will freq himself from personal realizing, and unload the as- sots upon the eredjtors by lotting them buy them in with dividend rerip, and then realize theroon thomsolves. In addition to their other troubles, a gigantic ring has beon or- ganized in Philadelphia to buy up claims st o ruinous discount, What thd oroditors will do romains to be seen, but tho prospocts for tho myriad of small ones are exceodingly poor. In touching off the panic, Jax Qboxe did not wreck all his victims at once. It will Lo a long time before the full harvest of that disaster {s renped. ta the amonnt thus aaved. None placed the eaving At lewn thag 60 per cont, and some thought it as high as 85 per cent. With this change going on all round them, it hna not yet ocourred to the Gas Company that they might head off the Iamp reform by roducing the prico of their gas. locomotives and hundreds of thousanda of oars to conmstruct; thore was constantly a new country to open and settle, with tho manifold employments incident thoreto. All this was one vast manufactnring interest, snd money wns pouring in from abrosd to carry it on with nnexampled vigor. There was no lack of employment then, no com- plaint of low wages, no suffering from hard times. But this gigantic industry came to a suddon atandstill when tho panic struck it. A gen- eral halt was called all along the line. The capitalists of Europo who had baen so lavish and confident suddenly cut short tho monoy- . supply. Thoy had suffered losses abrond, and began to tremblo for their American in- vestments. Tho work of building railroads may be said to have ceased ns a grest, na- tional industry, Sinco 1873 it has oonsisted mainly of filling up gaps, and farnishing with termini the mnm of railronds that begun ond ended nowhers, But the goneral sus- ponsion of work, necossitated by tho inabil ity to raiso any more monoy for unproduc- tive railroad-building, throw out of employ- ment hundreds of thousands of men. The farnaces wore blown out, the mills shut down, work on new roads abandoned, nnd the building of now towns indeflnitely postponed. During the years succeeding tho virtual collapse of the groat railrond in- dustry, the hundreds of thonsands thereby thrown out of employment liave been crowd- ing against those employed in other pursnits and ngainst each other, and they hiave broken the labor market and kopt it down, Aoan- while, of course, other important influcnces have contributed to tho goneral distress; bnt thoy bave been cumulative, while the shock frum the general collapse of railrond-building was the fundamontal cause of the hard times from which we have not yet recovered. Austria in the fourtcenth contury by Drke Rouporrer IV,, but in 1400 was inherited by Maxrumay, afterwards Emporor of Ger- many. Aftor somo changes it was reunited with Anstrin in 1665. In 1803, the firat Naroreow, contrary to the wishes of the people, transferred tho couniry to Bava- tin, which gave riso to a desperate in. surroctionagainst Bavaeia and Franco, headed by Axprras Iforzs, who for yoars defied and often dofeated the allied armics of tho two couniries. They wore ultimatcly overcome, and Hores was shot by order of Narorzox, In 1814 Austria recovered the Northern Tyrol, but the Southern Tyrol, which Naro. 10N made an Italian province when ho was King of Italy, did not ravert to Austria until his final overthrow in 1815, A fow years ago, tho Sonthern Tyroloans endeavored by poaceful means to be recognized as Italians, but fatled; and in 1866, when Austris trans- ferred Venetia to Narorxox IIL, who made 1t part of Italy, it was thought that tho Sonth Tyrol would be ceded also. When tho ex- pectation was not realized, Ganisaropr made an abortive attompt to take it by force, but failed. Triesto, upon which Ganmanpx has once more cast longing oyes, is a part of thoe Austrian Littorale on tha Adrlatic, hav- ing an arca of thirty-six square miles, and containing about 132,000 population,—the chief eity, which is of tho rame name, being the prinsipal seaport of Austris, Triesto has hiad varying fortunes, From the timo of the Lombard invasion to 1381, it was mainly in possossion of Italy, Tho peace of Tarin in the latter year made it au independent city, and a year later it voluntarily submitted to Austrin. Omances VI. made it o frec city in 1719, and in 1760 Marta Tneneas mode it o free port. In 1707 and 1805 it was tnken Ly the French. From 1809 to 1814 it wos in possession of the French provinco of Illyria, but from 1814 to 1840 remained at. tached to the Austrian Kingdom, It violent- 1y opposed Italy, and romained loyal daring the Revolution of 1849, and, 1n consideration thereof, waa nccorded the privileges of local self.government. ‘That Austria will ever voluntarily give up the Tyrol is manifestly absurd, Bhe would fight to tholastman oven if all Earopo should demand it, and it is more than probabls that a msjority of the Tyroleans and ‘‘men of Tricste,” as Ganmarpr calls them, would join Austris in resisting their sunexation. me Rdition, one year. 'ATta Of A ‘:‘In per monf CONCERNIRG COIN CONTRAOCTS. Bome daya ago we suggosted that, even if those who favor tho iseue of absolnte paper scrip should over obtain the power in Congrosa to pass a law carrying out their de- rign, it wonld not bo possible to compel por- wons to accept such money in exchange for 1abor or goods, and that ita use in payment of debts wonld be defeatod by contracts ro- quiring paymont in coin. The practicability a3 woll as the legality of onforoing contracts payable in coin dollars was quostioned by soveral corraspondents. The point especial- ly made was, that, where there wera soveral forms of ‘* dollars " equally known to the Inw, and all equnl before the law, a court of Iaw could not or would not enforce payment in any ono kind of dollars to the exclusion of other logal dollars, even when such pay- moent was stipulated by exprees contract, Wo showed, howexpr, that theao contracts had beon common during and since the ‘War, and that their validity bad been sus. tained by the Bupromo Court of the United Biates. The caso from Oregon was a strong one, Tha Legislature of that Stato, after the passage of the Logal-Tender act, passed a lnw directing the collection of Stato taxes in coin, nnd their payment by the County Col- lectors into the State Trensury in coin. Tho 'I'rensurer of Lane County tondered payment to tho Btato Treasnror of tho taxes in legal- tender paper, which was refused. The United Blates Buprema Court held that the State bnd fall power to stipulate in what form of money the taxes should bo paid, and gavo judgment againat the County Treasurer for tho amount of tho taxes in cofn. A caso involving the recoguition of the power of persons to bind themseives in mak- ing contracts based on the differant kinds and values of legal dollars hins recently Loen decided by the Supremo Court. The con- traot rond ns follows N. Eastow, Jan. 2, 180G,~5r, Icitamop L. '%VI!IY aoreea to furnish us, and we take from Bim, 16,000 dozen lang sbovel-bandies, to ba of the heat'quality of timbor and workmanship, for tho presont year, the price to be (S1.25) ane dol- Inr and twenty:dve conta per dorer, buaing the .25, 1f the Omn copy. Dot year. Club of fout, ... Epecimen eoples sent free. ulve Poat-Ofice sddress In fall, inclnding Btsts and County. Remittances may be made elther by draft, express, Post-Ofico onder, or in registered Jetter. at our rlsk, TERMS TO CITT SURSCRINRRN. Daily, delivered, Sunday excepted, 23 cents per week, Daily, delivered, 8uoday inciuded, 30 cents per week. Addrems THE TKIBUNE COMPANY, Corner Madison and Dearborn-sta., Chiesgo, Nl Orders for the delivery of Tz TrinTxx at Evanston, Englewood, and Hyde Park teft fn the counting-room ‘will recelve prom; TRIBUNE BRANCII OFFICES, Tum Crtoaco TAMUNE has catabifshed branch offlees for the receipt of subscriptions and sdvertisements as follows: KEW YONR—Illoom 29 7ridune Dallding. F.T.Mae Fappzx, Managor, PARIS, Prance~No, 10 Rug de 1a Graoge-Datellere, 11, ManteR, Agent. LONDON, Eng.—American Exchange, 449 Btrand. Hxsnr F. Gittio, Agent. BAN FRANCI Hotel. AMUSEMENTS, Hlooley’n Theatre. . Randolph etrect, between Clark and LaSelle. Engagement of Mias Clara Morris and the Union Squara Theatre Company, Afternoon. *‘Pink Dominoes.” Eveniog, **Miss Multon." McVieker’s Theatre. Madisen atreat, between Btate snd Dearborn. Duprez & Dencdict's Minstrels. e e SUCIETY MEETINGS, DLANFEY LODGE. NO, Communication this o'clock, Jiall 70 Monros. dl: N GRS . 271, A, F. & A, M.—Btated x'g_i:_\_;,.\_ufl.‘{rm. W M, JULY 24, TRE BOUTHERN NULLIFICATION BENTI- MENT, The editor of the Louisville Courler~Jour- nal has boon impolled to repudiate, in & mild-mannered way, the recont utterances of his former chief, Jxrs Davis, and to mako light of tho *scars ™ which it con- ccives Tns Trmuxe to have exporienced by reason of Davis' renppearance as the ndvo- cate of tho doctrine of secession and slavery. After rociting a sort of prose Inllaby, which {s not at all in keeping with the gravity of WEDNESDAY, 1878, Groenbacks at the New York Stock Ex. change yesterdny closad at 99}, Ex-Sonator Truxsuis was at Atlantio City yesterday, in waiting a8 a witness be- fore tho Porter Committee, and ox-Gov. Paryen is now on his way thither to serve in a similar copacity. The cxact date of the quadroon bail which is to be gotlen np ‘"HARD TIMES" AND THE RAILROADS. The rovival of Jax Cooxe's bankrupt affairs for the moment calls to mind ono of the groatest and most disastrous causes of the price on !Im'rrucnl vrice of gold, ) d then the pri 4 in honoe of thene distingalalied. rvivels 1 | Foimn e oene ot Tee oot O | oo publech tho Gourir-Jaurnal procends 10 | Juvtics il Soarihcsd o rencad accoingy: | Tho ousson of Trlest i von, moro abuard, Boy & Jurrxnsox Davis is no longor 8 power {n the land. e faan old man, mghon to threo ecore ond ten, 1f he’s & day, aud well worn, All that is left him Ia his right to ntter the tuonghts which rise within hie mind snd koart. If theso aresome- what obsolete and accentric, if they Lolonz rather to a dny that is gone, who shall irudge them to bim? s course is over. His carcer is tnade up. Nothing is more natural than that he should defend ~ the principle which signalized his grentest exploit. Coneiderably “more than half the peopla of the United States did not bellove tho doctrine of secesslon to vosted in the States by the Cometitu- tion when the question wos under discusslon before the War, States, like 'T'ennesves, Virginia, North Carolina, Texas, sud Arkapeas, repudiated the secession taea, npscrting only the people's inallon- able right of revolation. It Is doubtfnl whether ‘more thau ono State could have been carried out of the Union upun the cold theory of ita constitution- 81 right to sccedo. But whatever doubt had oxist- cd was settled by tho War. The present genera. tion of Southern men universally cntertain tho opinion 1hiat secession 18 not a right gasranteed by the Coustitution. Neither do they believe it & valuable or usefnl principlo in government. It is nndoubtedly very politio for tho War- TensoN school of politicinus to troat the sub- joot of mocession in this harmless way, be- causo they appreciate the iportance of allay- irig all public apprehionsion in this country as totho provalenceof any such sontiment in the Bouth. They know that theonly hope the Dem. ocratio party has for succoss lids in convincing tho peoplo that it has no longer any sym. pathy with tho pernicious idens that lod to the Robellion, Wa wish it were truo that the Democratio party hind abandoned Its tra- ditional dogma of tate Boverelgnty, of which nullification and secession aro tho logieal se- quences. But Mr, Warrensox's renssurances aro feoblo {u comparison with circumstances that signify to tho contrary. An occasional whine from Jurr Davis as **a man without a country " might not mean much, but his pe- rlodical reappearance at the solicitation of o partof the Bouthern people; the attention which his utternnees recefvo from the Southin spite of hisallegod porsonal nnpopularity; the response which is henidi from thosa nearor to the Democrats of the South than he wy,~—all combine to keep alive tha thoughta and issues of which helsthe moat consplcuous em. bodiment, More than one paper at tho South has had the tomerity and frankness to ap- provo all that Jeve Davis sald recontly, and tocontond that the future welfaro of the country doponds upon & rocoguition of the Btate Bovarelgaty dootriue In the most ltoral significance of tho term. Htill other news- paper comments at the South havae beon to the cffect that all Davis eaid was true enough and right enough, but ** he hada't cught 'or said it just ot this time,” DBat there are cir- cumsiances entirely disconuected with Jere Dawvzs’ publio reappearaaco which coavey a warning of new dangers from tho vory senti. ments he ropresonts, nnd which Alr, War- TERSON cannot quict with any ** Bye-a-baby- bunting.” It wus the State Hovoreiguty sen- timent that sought, by recent aol of Cou. gross, to abridgo the Dresidoni’s constitu. tional powers as Conmandvr-in-Chief of the anny. It was tho same scutimont that en. deavored to securo Lo passage of a law depriving the United Btates courts of the power of enforclng ihe collection of the Unitod Btates internal revanus and of protecting Uniled Btates officials from porsccution in tho Stato courts when they do their duty, Tho resistance of tho *‘moonshiners” to tho Uaited States laws is aunother sign of the same tondenvy, The passago of laws in somo of the Bouthern Status which practically deprive the negroes of their political rights, and the organized efforts of the Dewmocrats to tho same ond, are iu thorough keoping with the spirit of Jexe Davw’ harangues, Tho fuot s ouly too evi. dont that Jeyy docs not staud alone, a8 tho Courier~Journal would bave us be- lieve, but that the predisposition to nullifi. cation is so general in the South as ounly to nced tho encoursgemcnt of doughface sc~ cogsion to power to manifeat itsolf dangor- ously, It may not take ths form of outright sccession, but it will breed sedition and troublo. Diut 1t is understood that no advance or rednction of tha price of gold of 26 per cent shall change the prica of handics wnless it shall remsin at the ad- vaaced or reduced rate snficlently long to alfcct the general price of merchandise, 1. L. Qouixny, OLIvER AxEs & Boxe. Undor this contract 15,000 dozen shovel- handles were dglivered within the time named in the contract, but the prics of gold at tho timo of doliverics—in May and July— hod fallon from $2.26 to $1.01, $1.86, and $1.45. The construction of this contract waa the question involved in the suit, -The Court recognized tho valldity of the oon- tract, which was to pay $1.26 in curroncy (greonbncks) per dozon shovel-handlos, groenback dollars boing then worth 44} conta, gold selling at $2.25, the prico of the goods to rise or fall according to tha value of the paper dollar in tho ooin dollar. Tho Court recoguizod that the price of the goods in paper was to bo fixed by tho valuo of tho paper in gold,—the paper dollar nnd tho gold dollar being equally a logal-tonder for tho payment of debly, and equally legul as “dollara,” The docision also is s ju- dicial rocognition that the logal-ten- der paper dollars had a depreciated valne, ond that, though the gold dollar was not in goneral airculation as money, it wasa legal standnrd dollar by which the value of tho paper dollar, and of the payments mado with tho paper dollar, should be computed in cose n contrnot was made to that effect. In this caso tho Court gave judgment that, while gold was at 2,25, the goods wore to be pafd for at 81.23 por dozen in groonbacks; it tho price of gold declined mare than 25 per cent, then, the value of the greenback incrensing, the prics to be paid for the goods in groonbacks was to be reduced yproportion- ately. In point of faot, taking the ruling prico of gold at tho times tho handlos werq delivored, tho prices to be pald for them, in. stend of boing $1.26 per dozon, were 72} conts, 75} cents, and B0} conts per dozen, ond at theso rotes payment wea dircoted to be made, Herv aro soveral judiclal recognitions of tho power of oitizens to bind cach other by writton contract to ignore the legal and statutory definition of dollars,—to erect for themsolves a standard of value by which the measure of paper dollars (though fall logal tenders) shall be adfusted according to the standard. This contract waa in fast & con- tract payable in paper dollars, the yalue of tho paper dollars to be ascertained by thewr valuo in exclhiange for coiu dollars, and tho Court gave judgment on this contract, recog- nizing the legality of computing tho value of ono legal dollar by its value In exchango for another legal dollar, ‘When the tine comes that **fiat monoy "— paper scrip which s declared to bo dullars requiring mo redewption—shall be made logal-tender, this lind of contracts, that such money shall be good only for what it fs worth in gold, or contracts expresily payablo in coin, will of necessity becoma of universal uso in every form of business. e — sinco in giving up Tricste Austrin would lose her only grest portof entry and oll direct connection with tho ses. ‘fhe importanco of Triests aa n commercial port is duo to Austria, who has stimnlated and developed ita commercial prosperty until it has become one of tho great trading contrea in Europe. It is tho sheerest folly, therefore, to sup- pose that she will avor, excopt at tho cost of a long und Dbloody war, give up 'Triesto and content horsolf with o fow inaignificant nnd harborless Dal- matian ports. Tho only claim that Italy can urge is one of race. She has no claim directly growing out of the war, becanse sho had no active connaction with it and no in. teresta involved in it, and it conld not be expeoted of the Congrosa that it would mako any account of othnological, poetical, or his- torical nasociations when noither goograph- ical nor political grounds oxisted for coding any new torritory. Bnt noarly half tho population are German and Slav, and not Ttallan. Upon such flimsy pre- toxta every nation in Europo might domand n slice ont of eyery other nation, and, if the Jows should ever sot up an Ewpiro of their own, they might claim a protty largs part of the habitable globe, Un- doubtedly, a8 Dmsxancx said of the Groeks, the Italians are a ** very Intoresting poopla™ They have aromantic history, sud toeir associstions are very pootical snd musical, and thero are numerous other Italions, not only in the Tyrol and Tricste, but in other partsof the world; butif on this acoount Ktaly could take thoss two prov- inces awny from Austria, it would sot a prece- dont that would involve somo strange scizuros and wholesale plunderings. The Emperor Wrraiau might even came in and want the North Division of Chicago bocause its peoplo aro principally Gormans. The most cogont reason that will suggoest itself to tho Italian Government why it should not go into the claim businoss will be the very quiot but emphatic hint of Anstria that it must not al- low theso Ropublican demonstrations to gain too much hoadway, or becomo too outspoken, it it wishes to avoid trouble. The appearanco of tha Hou. E. W, Krxes, of ‘Wisconsin, fn Chicago yesterday, leads us to re- mark that the political caldron In the Badger State scems to have considerable tire under it just now, so that 1t bolls over occaslonally, Elght Cangressmen arc to be electod this fall, and a Legislature ia to be chosen, whose duty wilt bo to clect & United BtateaSeaator in place ot T. O. llowk, whosa term expircs on the 4th of wext Murch. Howz wants to be bis own suc- ceasor, and ten or fifteen other geotlemen are willing and anxious to succeed Mr. Hows them- sclyes, and, as auly one of the entirc lot can bave it, it Hown cau't, cach one Is naturally somewhay solicitous whether his nama s writ- ten on the leglslative book of life. Tho question of Scnator {a bolug discussed with conslderable fndustry notwithatanding the bheat, and that and the Coneressfonal nom{nationsengross so much of tho Badycrboys® attention that they havo little timo to give to thelr redizious devotions. The * Boss," as Mr, Kryes is famlliarly called by the boys, is a candidato himself, and, being a gentleman of great encrry aud {udomitable purposc, hio has already developed conslderable strength®lo the country districts. Matters are sulll furtler complicated by the fact that there are two State Central Comtnittecs,—ous uppolnted by the last Republican State Convention, aod the other sp- poioted by the membors of the last Leglsiature. ‘This latter Committee, it is charged, was organ- fzed lu the intercst of Mr. Knyxsj but, as It contalus amoug {ts mewmbers suine of the best itepublicans fu Wisconstn, itts oot lkely thae this charge Is well grounded. It looks at this distance s if the two Committees would bo likely toget uto a Jangie, cspeclally If the newspapers continuo to pltch into each other about them 28 they have commenced. Taking v nltogetlier, the campaign jn Wisconsiu this fall promises to be su excecdivgly lively and fu- teresting one. not yet announced. Becrotary Scovrz has afiirmed the decision of the Laud.Office Commissioner regarding tharights of settlers in the purohase and pre- emption of railrond lands. The Becrotary Lolds that the lands remaining nusold three yearn after tha complotion of the milways rocoiving grants from the Govornment are subjoct to pre.emption by vottlers nt tho rate of $1.25 per acre, tho Government having the authority to iako tho sales through the land-offices, oud to place the monoy to the credit of the milroad companies. was mervly a signal—a gort of an alarm-bell —that roused the conntry toan approhension of what was comiug. The history of what followed is too familiar and too disagreenble to dwell upen ; we are atill in the toils, after five yoars of depression and sufforing, and people aro still wondering what brought it all abont. It wasn't morely a * loes of con- fidonce,” becauso it doesn't requirs five years for an iutelligont peoplo to recover from a fright. It wasn't sltogothor the deprecinted condition of the currency, for the currency, though oxerting a baleful inflnanco on busi- uess ponding tha proecess of squeazing out tho water, bag for soma time been practieally ot par with coin, and was worth 88 per vont ot the time of ¢he panic. It ' wasn't any defleiency in tho amount of currency, because, ever since the panie, monoy has beon more abundant and obtainable st lower ratos than ever bo- fore. In spile of oll tho wisdom that has been uttered about hard timos, and in spite of tho discussioh that s constantly kopt up, tho ona groat cause e oither overlooked alto- gether or underestimated. Jay Cooxr's uffnirs recall it, for Jax Cooxe was in the rallrond husiness, During tho four yoars of the War thero was nwplo cmploymeut for all classes of people. A million men on one sido wore on- goged in cuiting the throats of Lalf a mille ion or mora on the other. The remalnder ‘of the population was employed at high wages or large proflts; money and specula- tion wore abundaut, for tho Government was mortgaging the fature and spending the pro- ceeds ot tho rate of tiiroo millions o doy. Tho Wor onded in Aprll, 1865, sud “the vast armics wero thrown out of Government employment; moro thau this, immigration, which had dwindled down small during the War, rovived, and flouts of ships weroe bringing foreiguers to this country in soarch of employment by hundreds of thousands, Thero was no com. plant gbout lack of work or insufficient wages,—nohard times. Everything wentfor- wazd in a boowing fashion; thoe armies from tho battlo-fields of the Bouth, and the othor vast ormios from Europe pouriug in upon us, fonnd no dificulty in locating thomselves satisfootorily, What became of all these poopla? What supported them? Wby, we weont on mortgaglog the future for more monoy just as wo had dono durlug tho War, and gpout it just as lavishly, The Govern- ment wos no longer tho agent who negoti- ated the funds; corporations atepped in and netod aa distributing agents, ‘'The Govern. ment hnd burrowed somo $2,800,000,000 duriug fivo years. I'he corporations bor. rowed mora thau doable that amount daring tho noxt cight years. Of tho latter, the rail. road corpanvics wero tho mnost numerons, powerful, and bazardous. Tho latest statls. ticy show the railroad debt of the country to be nenrly flve billions (§4,800,202,022), in. cluding stock, bouds, and toatiug indobted- ness, or nearly doubls tho higheat figure tho Governmont debt evor reachied. JMoro than half of this monoy was raised and vxpended within tho period batwoon tho closo of the War in '05, aud the panlo in 73, dating from Jax Cooxe's collapse. During this period nearly forty thousaud miles of railway was consiractod. Tho business of building railroads ona grand scalo is tho largest manufacturing businoss that can bo couccived. It is no cxaggoration to sny that, divectly or indirect- 1y, rallroad-buildivg cwployed wore thaua million men during tho period to which we refer. The great trans-continental route was pushed through with a rapidity alto- gether unparallelpd,” driving Indians and buffaloes before it. "The Western Stotes passed laws allowlog citles, towns, and couuties to mortgage thewmsolves to their heart's contont for the construction of new railronds, and the whole country was grid- ironed over with tracks, On the old roads single tracks weroincreasod to double tracks, and double tracks to quadruple tracks; iron rails wero taken up to give woy to ateel rails; councctions, oxtensions, aud offshoots wero provided in every direction. Along the line of the new roads the carpenter and builder followed closcly upon the first run of the locomotive, aud new towns sprung up like mushrooms in the night. All this was give ing ewploywent for the time being at high wages 10 tens of thousands. There were the machine and car shops to baild ; there were the irou-furnaces, foundrics, aud rolling. mills to run; there wus coal and iron to Trouble with Democratic ‘I'reasurers nover will conse, Just now it is in Missouri that publio attention has been directed to the be- sotting wuskuess of the average Bourbon custodian of public ntoneys, State-Transurer GaTesis the object of considerable solicitude, owing {o a painful suspiclon that his bond ia practically worthless, if not altogothor in- valid. What makea this wmatter peculiarly distressing iy the very ulim prospect that the Stato will over be nble to recover more than half of tile $£00,000 which'the Treasurer de- posited in tho National Bank of the Stata of Missouri just flve days before that institution ‘“‘decided to suspend.” 'Ihero I8 nn air of Democratio 'I'rensurerness nbout the whole affair that is very disconraging to tho tax- payers. The Ohio Nationals met yesterday at Columbus in State Convention and adoptod a platforin and nominated a full ticket of tho Btate officers to b elected this fall. Bax Cary was the aathor of the platform, which reaffirms the declaration of principles adopted Ly the Nationals ut Toledo last February, and demands that the Government shall print and circulato “ full legnl-tondox money adequste in volumo for the distribution of its products, for the requivements of busi- nesy, and for the payment of all interest- bearing bonds ns fast as redeemable,” 'The taxation of Governmont scouritics, the pas- sage of au Income-Tax law, tho ropeal of the Resumption act, and the abolition of convict Inbor iu prisons are also among the things promised and domanded, Although, as reported, the advance guard of the Austrinn army hes crossed the Itiver Bave, nud entered upon Bosnian territory, thero js etill wmuch opposition on tho part of tho Porto to the proposed unlimited occupation of that provinco, ‘Turkey does not, after all, rolish the idua of giring her European torritory into the hunds of tho outelde Larborian with the dQubivons prospect held* out to her that hior grip upon the' principalitios onco loos- ened can nover bo regained. . The Austrian Government appears to have anticipated the present condition of affairs, and haa taken every precaution to secure tho success of her undertuking, Hoavy reinforcoments will follow tho troops selected for occupation, and the army of invasion will bo propared to aveccomo nny obstncle 1he unwilling Turks wro disposed to place in its ITALY'S COVETOUS GROWL. The fortbcoming occupation of Bounia and Herzogovina by Austria, in accordance with the stipulations of the Treaty of Berlia, s aroused a very decided feeling of discon- tont on the part of Italy because no extens slon of territory was conceded to her, and has also proused some very stirring Ropub- llenn domonstrations in Rome, Genevs, Naples, Milan, Florence, Turin, and Venico, the Lurden of which is a demand for the auncxation ‘of the Southorn Tyrol, on tho westernmost limit of Austria, while from his {sland home GARIDALDI'S Voice s onco niore heard, ofter Lis long silence, urging the “ men of Trieste " to ** take to tho mount- ains which means to rovolt agalust Ause tria,—Trieste, at the head of the Adriatic, be- ing a neighbor to Italy on the southeast as South Tyrol ison the unorthwest, the two belng separated by Venetia, Bofore considering the validity or grounds of ths remarkablo Italian claim, ogaiust pushipg which Austria has already given Ttaly sundry strong hints, some of thebistor- ical nssoclations of the Tyrol and Trieste will bo intoresting. The Tyrol, from ite natural Alpine configuration, i in reality an eastern contivuation of Switzerland. The outlying States are Bavaria on the north, Wurtemberg and Baden on the northwest, Switzerland oun the west, and Ilaly on the south nud southeast. The Italian or South- ern Tyrol, which plerces Italy like o wodgo between Milan aud Venics, i3 tho portion ‘The seasido sessions of the Porren Com. mitteo began yesterdny at Atlantio City, with oue Hoepublicon und three Democratic mem. ‘bers, including Butexy, in attendanco. ‘Tho only wituess examived was Ropresontative Danrorp, of Ohio, who visited New Orleans in 1876 us 0 member of the Monnuon Come mittee, and who bLoard tho stary which Ax- pERsON told before his fuilure to got an of- fico under the Hivzs Administra- tion convinced him that Tiozy was choated out of the voto of Louisiaua. Fho contrast botween Awprusox's state- ments then and the testimony ke gavo aftor Lo becamo convinced that it didu't pay to tell the truth was clearly presouted in tho evidenco of Ar, Davronn, At New Orleans the principal dovelopmonts of intercst Leforo the Bub-Committee were tha obstaclos which Lave beeu encountered by the Lepublican winority of the Comunittec in thelr offorts to sccure the atténdance of witnessos from tho bulldozed parishes on account of the fear of violence upon their roturn home. ' East§t. Louis, which a short time since wos rent oto warring factions over the struggle for municipal control, is onoe more tho scene of violsnce aud uproar. Now, however, the authorities are arrayed against a non-political enemy—a railrond compavy ‘that wants to loy ils track (hrough tha city so us to reach the big Lridge, Mayor ‘Bowasan aud his cohorts, backed by what Ex-Uoy. Pavwan beins s short article {n bis Ragister in thls muddy wod confused way: Tux Cutcaco Tutsuxe and vther papers of the Republican persussion are buatly enguuod n try- log o prove that the panic bewwu in 1874 ‘Thelr otlorts, bowsyer, ate supererogatory, for all intelli- geat won wiil reinember that lu_Beptamber, 1673, he Presldcnt, Uy an execuitvo order, direciod tha ixane of §20,000.000 of groonbucks which hud once been redeewea. This was dono at tho request af Wallwircet speculatore, who touleted thas they knew precisely the amount of money required to *‘meet the néccesitica of the coaniry.” By this act, which bas no warrant in the Constitution, sud potie in the law, the Presldent addod preclucly tlas amount to the natlonal dobt. aud agsinst that act 0o Republican paper snywhere proteated. Tas TisuNe is not (rying to prove that the pavic Legan fu 1873, fur uobody denies kt, sud anyone knows It who 13 0ld enough to remember back five years. It would certaioly be * super- erogutory " labar o prove that the pauic bezan Oinciunati, having satisfactorily adjusted tho beer question, Las now commenced to wrestle with tho gas question. Within the last three months over 4,000 gas-wetres have been taken outand 20,700 oil Iampa bave been so0ld that are of a shapo convenlent to be placad upon gasfixtures. Tho Gus Company is growing very anxious, aud gas-fittersare in distress. The Cincinoati Commercial, which 80 eloquently championed the cheap béer, and denounced ice-water as dangerous, in ita remarks upon tho choap light says: The saving efccted by tho introduction of lawps 18 catiated at from i 1o 80 aud 85 per ceut. Ace cordiuz to the catinotes furulabiod to the Fire Comissloncrs (latupe ur heuceforth W be used ln the yurtue-nouses instead of gua), the ravivg is 76 Lusinee Lowo xus il d | coveted by tho Italian Republicans, the 3 % ot they oaim to be a perpetus! injunction | mine and transport, tho timber to cut, the 1oten tron “fina E‘::I:.‘x, ':wu's"‘i,’;,‘:::.,'nfl,",‘u province of Frisste lying f + ronad to | 1131 but wiat connection has the sccond sen tence of Mr. PaLuuit’s paragruph with the firsti Bupposs the President, by su execcullve order, directed the relssue of §20,000,000 of green- backs, what bas that got to du with the alicga- porter that Lis ex- benses for liglitiug for the ratue leugth of thu, 1n- cluding breakuzo of glasa, are ol pioco then $7 or 33, Quils @ number of otiers who bave doseuway Witk Zad were visied, aud oaxed for catlwales us ! grauted by tho courts, yestendsy attacked !'and put to flight the forca of luborers | engoged in Lying the track, which was road-bod, desp cuts, fills, and tunnels to ke, aud the bridges to build; thoro were tho rails to cust aud to lay, the thousands of the southeast and forming & large peninsuls, which vxtends into the Adriatic directly op- posite Venlcu, ‘The Tyrol was auncxed to *fact that Alabamalsfast becomlng a whiteman's " out of cmployment also, or at lesat enzaged in tion tnat Tar Trisuxs (s trying to provo thet the panic began in 18731 The two sentences read not unlike HuRLIBRT'S famons * Kibows- of-the-Minclo " article In the New York Times; the writer appears to hinve been tuddled. The further atatement fs cqually foadled, that the President added precisoly that amount— 820,000,000—to the uational dobt. How could he add to tho national debt? He did not givo naway the $20,000,000 of reissucd greenbacks. Doca Mr. PALuzs koow what the Proaldent did with the relssued greenbacks! We should judge not, by his remarks. After the panle broke ont fn Bep- tember, '73, the Presldent went to New York to consult with the bankers nbout it. They urged him to loan them the forty-four millions ot Totired greenbacks to carry them over the crists. ‘This he declded he had no authority to do, but, after consalting with the Secretary of the Troas- ury (Ricitanogox)andother oflicials, he dirccted the Secrctary to purchaso 6-20 6 per cont bonds till he should tell bim tostop. The banks bid agaiust each other to get the greenbacks, and eold their 5-20's for about 110 in currency. The purchascs of bonds wont on until twenty mill- 1ons of greenbacks were roissued, when tho President saw it was doing very little towanis relleving the panfe. As fast as the New York savings and National Banks got hold of theso greenbacks, thoy locked them up and refused to let them circulate amonz the people. The banks were' panic-stricken, and sc were the crowd, and it was cverybody for himeclf and the Dovil tako the hindmost. Each bank grabbed for ss many legal-tenders ma it could get to secure itaclf agninst a “run? by its depositora. All currency suddeniy disappeared from cireu- Iation; every onc held on to what ho had, and pald out nuno that-he could help. The Now York banks went into suspension and issued certified chocks, which they called * certif- cates,’” and circulated thom in place of curren- cy. With the $20,000,000 of greenbacks the President bought about $23,300,000 of 5-20 bonds, and canceled them. Tho bonded debt was reduced that smount, and 81,400,000 of snoual interest has beca saved ever sloce, To say that *'Tho act [of relssue] had no warrant fn the Constitution and nono fo law,” s to beg the question. Thero was nothing in the original act authorlz- {ng tho retiring of those greenbacks which for- bade their reiasne, 1f thero had been, the Pros- Ident would not have done fe. Ho could have relssued tho whole 44 millions without exceed- {ng the 400-million limit, which is constdered by most good lawyers to bo the constitutional limit of thoss * War notes.”? It s five yoars since tho act was done, and Congress has not ‘pro- nounced it a violation of elther law or Constitu- tlon, nor has the Supremo Court; and Mr, PALMER {8 not a court with jurisdlction to pass on such a question. But tho assertion that #The President addcd precisely the amount of the relssuo {$20,000,000] to the natlonal debt * 18 bosh. . —— ?flf. Jaues P. Sraps, of Bellevillo, I, is on & visit to the northern part of the Stato this wecek, and was Chicago yestorday, his object bolng to extend his acquaintance among the teachera and cducators of Illinols, Trof. 8LADE Is tho Republican candidato for State S8uperin- tendent of Public instruction, and le has chosen this time, when teachers® Institutes are being held all over the State, to be scen and soe as mnuch as possibla of the fleld he s quito certaln to occupy after the fall clcction. His engagoments ahead among the county teachera’ institutcs are about as follows: Sycamore, Thursday; Yorkviile, Friday; ‘Trenton, Clinton County, July 29; Collinsville, Madison County, July 803 Marsball, Clark County, July 81; the followlng week, Champalgu, Gibson City, Mon- ticello, Wataeka, aud Waterloo; and latcr on, Kankskee, Poutlae, Poklu, Sparta, etc. ————— It 13 sometimes bonofictal for a man or a party to know just what hisor thelr encmles think, snd hence there is hore quoted what the Indian- apolls Sentinel (Dem.) mays concorning tho prominen} Reoublican candidates for tho Pres-. dency: EDp)UNDS 18 & born anistocrat; BLAINE I8 absorbed in a selfsh, unscrupulous ambition; CoXKLING 18 o disappoinicd intrignants; 1Aves haa developed & 1ack of backbone; BRistow Is a dictator; Suxn- HAN hias uo defned fnancial status; Looax {ss trickster; Bun HuTuxs fa s political prosiitute; Evauts is » cold-blooded diplomatist; HEnNDaRSON only & dark Lorso, but & Froe-Trader, Will tho Sentinel man now tcll us what he thinks of 'I'nuAMAY, Biy ALtax, 8. J, TiLDRY, UGov. Hewpricks, Jeer Davis, and tho rest of tho Democratic candidates? —e— My, Jrrr Davis bas found o warm admirerin the editor of the Raleich (N. C.) Observer, who deetares that 1t Is true that tho Qovernment atill refuscs hilm some of the rights of citizen- ship, bnt it he be not she full peer of ULvsszs 8, OnaxT or Rutnaxronp B, Hayes fn all the rights of an American citizen, 08 ho is their su- perlor fo all other respects, it ia not because he has forfeited these rights by the commisslon of any offenso againat tho laws of his country, but because of tho malignant bate of an fmpotent onemy that dares not otherwise wreak {ts much- coveted vengeance on hin.’ In view ot the somewhat prominent part that Mr. Davis took in tho late Rebollion, it might be suspected that the Observer was salldly prejudiced in Lis favor. ——eet—— Tt Is probably a zoed thing that Tox PaTTER- BON has been nominated for Congress by tho fraud-sbrieking Democracy of Colorado. De JSacto Toxt had no more right to a seat in the laat Congress than any other mau, oxcept that he wes counted §n by a lare majority of unscru- pulous Democrats, and, as Colorado is au un- doubted Republican State, wo confidently ex- pect to sea the disgrace that was put upon the peopte by the ‘TiLpeN Domocracy wiped out by Parrenson's defeat at the polis. WASHINGTON, Secretary Schurz on the Qug,, tion of Railroad Grant. Lands. All Lands Not dold by the Oompanyy Opon to Pre-emption and Entry at 8136 Per Aore. First Day’s Recreation of the Pote terites at Their Seaside Resort. Diffioulty in Becuring tho Attendancy oy Republican Witnesses at Now Orleans. PUBLIC LANDS, THE RECENT DACISION AFFRCTING LAND-GRiyy ROADS, Wasninarox, D, C,, July 23.—~In the Dyyy. motte case, Bceretary Schurz has decided thy Tacific Ratlroad 1ands may be pre-empted, Toe decislon says: Nearly all of the RTANLA Mgy Dy the United States to sid io construciioq o railronds or other works of Internal fmprop, some of which are conditions precodent others conditions subseguent. Such conditioy, aro found {n this grant to tho Kausas Pacs, It cannot be -denled that: Caneress hag t, right to make tho grant to sald Company ahs, lute and unconditional, .but in order o secun the objects for which the grant yy made couditions were aunexed. The Compayy bad s right to accept or rejoct tho grant giy the condittons therein made, but, havingaccey, ed It, it 1s now catopped to deny thelr force 45 effect. One of those - conditions, and the o under whicis the apolicant now claime the righy to onter a portion of the land granted to Conpany, is, that ** all guch lands so granty by the scction, which shall not be sold or ¢l vosed of by sald Company three years aftertyy catire road shall have been completed, shallty subject to settlement and pre-emptlon Kty other lands, at a price not excceding 81.25 pey acre, tobe pald tosuch Company.” Whiloitistry thatneithorof thedecislons of tho Suprome Cous clearly and distinctly define tho rightsof ty Government in the disposal of sald lands, st} :I';:y clearly indicate tho opinlon of the Couy t BUCIE A RIOUT BX1878, nnd whether it be considered that tho esty granted s a conditional estato or au estate wiyy a conditional limitation,—fn either case Tan of opinion that it must be held that the con dition runs with the grant, and {a In cllectare. ervation ot a power of e {n the Government of lands granted to the Company which mained nosold by it at the expiration of tore years after the entire road was complcted,under ihe provisions of the Pro-emption law. It 1s manifest, I think, that Congreas did not Intend to nt to said Compauy so larey quantity of land to be held and sold by it speculative prices, but, desirioz to give it u and asafstance fn it undertakiug, at the am time provided that the actual scttler who wu willing to pay the price stipulated should han the right to secttie and make a home upon g of tho lands so grauted, and {n order to secun this right to the sctticr, and at the sawe {imy sccure to the Company an adcquate considers. tion for tho lands, reserved the right of uy thercof alter tho road had been completed for three vears. ‘This yiew s not inconsistent with thc objed to be attaincd in making the grant, Thatob Ject waa to aid a corporation in tho construe tion of a work of national importance, which contemplated an expenditure of money beyosd the resources of privato {ndividuals, ot whether that aid ashould be given inlasdy which might bo sold by the Company to relz- burse it for tho expenditure maae, or whethe tho Government sbould sel! the land at a stipe: lated price aud pay the proceeds arlaing then from to ssid Company, WKBH CONBIDERAD IMMATERIAL both by the Governmont and the Company that accopted the erant with the conditlon. Tt fact thot sald Company so underatood tth grant is made evident by a clrcular Issued by jta Land Comtnissloner, dated May 12, 1% inviting the purchaso of its lands, in which b anys; ‘*The road was acceoted by tho Gorers miont as comploted about six months ago, three years from that time the road landswi be sublject, we supposc, to the Pra-cmptlon lay, but we hope and expect to have all our land sold befors that time arrives, * All rallrma tands sold by tbia Company arc sold vlearof taxes, with the assurance of perfect title whes paid for,” More than four years having elapaed since {4 completion of eafd road and its acecptance bt the President at tho time Mr. Dudymotte fiel his declaratory statement for tho tract in que tion, I am of opinlon that his application shuld have been received by tho logal oflicers, st ject, however, to the condition that it bems to appear before the final certificato fssuu to hin that at the timo his declaratory statoment wa filed for ea{d tract said Company Lad uotsl or disposed of the same, If tho views I have expressed in relation 4 thu sale and disposal of £aid lands aro correch= aud [ sco o reason to doubs thelr correctoos —the salo nnd disposal of lands {u tha condilin of theso applied for, It unsold at tha timety sald Company, ia clearly withia the jurisdidis of the Laud Office, liks other lands, By t terms of the grant by which safd lauds, or > cocds which shall arlse from sale thercor, ool to said Company, it {s provided that tho lud romaintag unsold at ‘the cxplration of thr yeurs from the time when the cutire road ¥4 completed shall ba SUBJECT TO BETTLEMENT and pre-emption like other fanda, at a price <t exceeding $1.83 per ocre. Tu other words, it said lands shall revort to the public domain ot sale aud disposal for sald Company under b Pre-cmption lawa of the United States, sl whother it be considered that aald laudsi public lands foa general or spectal scnse, ar not, {o iy upinlou, affect the jurlsdiction the Laod Olce inmsklug salo and disposst thg samo. ‘Plie decislon coucludes with directions loi Tocal otticers for fta cnfurconient, and sa; In making roturns of - monuy's arisiuy fro3 the sale of sald land, local ofileers should bele structed to keep oecparate account uf (4 lauds sold and moneya recclved therefor of uccount of sald Compavy, in order that the saoé may bo passed Lo its credit. Iu thia case, luir much a3 1t does not eatistactorily apwest whetber the tands applied for bad been sold bt the Company at the time Mr, Dudymotte Hied bis declatory stutement, the — Cumod soner ol the Loud Ofilce will insired the local ofllcers to call said Company for a statement showlng uh:"fi sakl Jands Liad buen sold by it at that thne, & 1€ 1t refuso or nuzleet to (urnish such statemest witbiu thirty dave after the sorvice of said B :’I::'. that they order a bearinjg to determine it i b Tha Mobite Ziegiater folicitates itselt upun the Btate, and asserts that she hus uow a white pop- ulstion oxceeding the black 200,000, thus giving u preponderance of over 30,000 white voterd. In 1870 the whites outouinbered the blacks by 100,000. Alabaina s pow a good placa to ob- sorve tho kind of “equal and oxact justice” that Is to bo measured out to the black race. e ———— # Brick? Pomznoy and otlier luflation blath- crskites have a goud deal Lo do with exaggerat- fur the number of people out of cmployment 1 this country, but every well-dlsposed cltizen and honest man would liko to see those fellows some more legitimate business thun to inciis jealoustos and heart-burcinge amovg differens tlasses of the community. BY THE SEA. THN POTTAR YRAGMENT OV TIIE GUEAT INVETH GATING COMMITTEE. Arvawmio Cary, No J,, July 23.—Tho Poiit Sub-Committe, cunalsting of Represcntatitd Potter, Butler, Hiscock, and 8pringer, wet sfternoon. Thero were presont ex-Senator T bull, Revresontatives Danford and Kelley, b .ot counsel, Bheliabarger and Bypher, togeib with a large nuimber of guesta of tho kot both sexes, and roprescntatives of the prest Representative Dauford was the flrat witoest called, at tho Instance of Kepresentative cock, who conducted the dlrect examinatios DANFORD'S TESTIMONY. Ropreseutative Danford testificd: Wassme® ber of the Morrison Cominltces that visited N¢¥ Orleans, aud thers mot James E. Auderdh whom Lie had first kuown as o Washiogton o respondsnt of a newspaper ln bls dlstrick had & full conversatiou with Andersou s: East Fellclana. 1t was voluntasy the part. of Aodersou, who spoke kenernt) of tho coudition of the parish, & fte being the worst bulldozed parish of State, and ssid thas while troyeling from 800 olut 1o the parish seat on a dark uicht be :nl fi'm‘l o his &Lhfil befug -u?ut;l;mfih G hat 8 CaCa ol v ‘Alm Teaving the irisn seat e went t Nof Orleans. Ilo ult}’ thot sume sriny 0% doubted the truth of the story abodt mw tacks he also spoke of baviug made the pro o un which tho vote of East Fellclaua wus tho o out, He spoke of bavinyg put i «:In.-uluflul:l story that during the period of n'wmmll(um caun to Now Orleaus and informed the Reoll lean Comities, weluding Gov. hn:lluhl“']o"l tls parlsh wus golng Democratic, the ¢ Yoto belug lurgely on that side, uud thst nobs) been advised by Kellogg aud the Repudin, Cowmittcethat e should eibicr ot returu i parish st all or come away aud make such s et ——. Judgo Mavrrony fs said to bo & caudidate for the Domocratic nomination for Congress fu the Milwaukee District. The Judeo s chicfly known to the public 8 the defeated Democratic candidata tor Governor Jast full fn Wiscousin, What otber clalms he may have on the Dewmoc- racy of his district does nol appear. e ——— The Hon, €. Latusn 8noLgs, of Milwaukee, a well-known and vopular jourualist, Is lying at the poiut of death at Colorado Sprines, whither be had gyoe with tho vain lope of belng re- stored to htalih. The Arkas Qscenback State Conventlon. met st Little Rock ou Saturday last, and ap- pointed & Btats Central Comumnlttes, giving it authority to put o State tlcket fu the feld, e — Tt scema that Bex HotLeyw had a brotherin- law, too, and laves found it out and went for bim. Old Bux 1s vow qulte certaln that Hayxs 13 a truud aud wus not electod. e ——— ‘The Cleveland Herald says that *Jittle Doo- LITTLE scems o be a pretentious, sballow-pated fellow.”” Aud yet the L-O.-Usags ‘it almost wads little DooLiTTLR.” e e—e A, H. BTeruzys writes toa friend {n Wash- {ngrton that his Lealth is better than it bas been in twenty years, sud that he will certaluly be elected, e—— —— The I, 0. U. ackuowledges tbat it has adopt- od the cabbage-leaf, But {t cau't pay Its cow- pesitors fu cabbage-leaves, mont have had sonexed to thom ‘conditioy, ' Bl SRR SIS