Chicago Daily Tribune Newspaper, January 3, 1879, Page 9

THE CHICAGO TRIBUNE: GEN. GARFIELD. greenback to tha public (aith. theories of currency mav_ hav l&;‘.!‘u will not be denled as Whatever new prung \p since act of history sues. Al e will taka thefr place In hix alongside of the resolutfon of Vansittart scekeverswhere for investment, Thesurplusrev- | will rejoice in it, exerpt L1 4 1811, that, " Beitiah paper had not fallen, but enuenof the Natlonal Treasuey wers anplied to | thelr asrociates, nhioss erafl it has destroyed; extensive extravagant pubdlc works. National, | and except, also, those political proohets whosa kil ber. e & poke to'his father abont it. Mrs. E. A, Blalkle, sn aunt of the acoused, . " was the writs 7 and Jas Enat the grecnback xan & loan withont | Btate, municipal.And privats credit was devoted | accupation'ls gone by the cxplosion of thelr | gold biad risen in vaiuc.” snd the declaration of 5 yue the next witress,. sad;: corroborited muck. 1 - His Speech on Réaumption intereat, forced npon the people by the over- | to the bullding of raliroads and to enificent | theorles and the fallure of thelr predictions. Castlereagh, in tho House of Cominons, that The Jury Disagree and Are Dige GEORGE MLAIKTE, % Sk : mastering necessitles of the War, “1ts lssue ss alegal-tender for private dedts wes acknowl- edged at tho time to be an act of doubtlul con- stitutionality, aod justifiednnly onthe pleaof in- cxorabic neccasity. The mecasuro was adopted with great hesitailon by a small malority and ngmost . tha protest and warning of maoy able and patrlotic Henators aod Representatives. ‘The law was scknowledeed by its supiorters to e s radical depsrture from the tradl- tions, tho theory, and practicc of our QGoveroment. Its * strongest supporters ac- knowledged the qreat danger of the ex- veriment, and threw around it cvery safequard againat the evils it wonld iofllet.” They em- bodled {6 the luw, and stamped upon the face of every ‘greenback, this solemn promise: “*The Upited Btatea will pay.” They provided o method by which the notes should be funded and nitimately redecmed, They did nob pro- poss to create a permavent system of paper money. They declared that the measare was to be a temporary one,—the ** Medleine of the Con- stitution, and not {ts daily oread.” They ss- serted, agalo and agaln, that the money of the Cunstftutlon waa coln, not paper. The green- back Itself was & vromise to pay colnj but the date of payment was not fixed,” It 1 Gov- ernment due-bill; and the only ex-usoin mor- als or In law for not paying it on demand was inabllity to pay,’ The moment the Government was able to pay refusal became dishonor, and reproduced lts injustice ln every business luter- est, public and private. _ . ONIANGING VALUE OF THE GREENBACK. But the unredeemed greenback produced evils far grearer than thosa which resulted from thia ordinary refusnl to pay a debt. Besldes bo. ing a debt,” it was a legal-tender currency, and ita excessive volume etpelled real money from all the channels of Internal trade, destroyed the old measure of value, and substituted In its ghcn a standard whose value fluctuated every day aud every hour during the scventecn years of ‘suspenslon. On sccount of fts twofold char- acter ma debt and currency, the value of the greenbatk was changed by every military and political event which affected tlie fortunes of tho war. The march of a hostile army to the near nelghborhood of the National Capitel, in 1804, reduced the market value of the green- bark 40 per cent In nelngle week. The 13 year a futile attempt_of Coneress to abolish the premium on gold, by a penal law, caused an cqually violent flucfuation. At first the grecoback was recelved st por with coin; but later covery Increase of issue reduced its market value, In 1864 the yolume waa increased one hundred and ninety milllons, and tho coln value of the whole mass beeats one hundred avd seventy- five millions less thao beforo the Increase, ¥ Through a serles of Innumerabls and fitful fluctuations, i¢ fell from par to 88 cents on the dollar, reaching ita Jowest poiot on the Gth of July, 1864, By o scrles of changes, equally {rregular, it has returacd, through an ascending scale of flnun years, 10 DAr. 5 o arithietic con compute the injustice and Toss which these fluctuations have inflicted up- on the people and busioees of this country, ‘Tha chief mischiel resulied from two unequal and varylng qualities of the mrcenback os n curroncy: Its debt-payiog and its purchasing power. Tho firat was arbitrarily fixed by Con- gress at 100 cents on_the dollar{ bat the second was controlled by laws which no human legisla- tion can sct aside—the 1swa of value; and the valuo of the greenback as a purchasing power suffered all the chauges of tho market. In July, 1864, 8 cltizen who had loaned his neighbor s hundred -dollars n coln three years befors was compelled by law to accept as a discharge of the debt a bandful of papor notes which he conld purchase for £33 in coin. That {s, the same nota which pald a debt of 100 cents would buy in the market only U8 cents’ worth of merchandlee, valued in real money. This @ifferonca betwoen its debl-vaylng power and its purchasing power carried confusion and fu- Justice to every department of business, During the whole perfod of decline the cred- {tor was wwronged by underpayment and during the whole period of appreciativn the debtor was wronged by being compelled to moke averpay- ment. Duriog the saventeen years of suspension the payment of every dedt fnflictcdsa wrong, elther upon the creditor or the dettor; and thus the whole machinery of credit was converted {nto an cozine of injustice, ‘This will alwnys Lkappen when the two functions of currcncy are of un- cqual value. THE MISTAKE OP 1805, « . The first qu opportunity for putting an end to thess oviis oceured soou sfter the cluse of the War. . Probably at no other time in our history was the per capits average of private indebted- ness wo small asin 1865, Private dents had been I Knid—ln depresdated paper; the Government ad become the great borrower; and had loaned nearly all the surplus capital of tho country. - Two milllons of ~ hardy, enterprisin men had just been musicred out o the lately hostile armles, and wero ready agnln to become producers of wealth, It was & matter of the utmost Imvor- tance that the fruits of thoir labor atonld be safe when earned, and that ventures In business should be minde es free as possible from artificial fluctustious. The volume of currency then cxtendin| early four times na great a8 had ever exiated at any one tlme before the War. It amounted to noarly elght hundred wmillions of'obligations, in varfons forms, en- dowed with the quality of Jegal-tender. Even in tho midat of the "War, this volume was known to be far too areat for (Inanclal gafety. But on tho return of peace, when the Govern- ment ceased to Lem great consumer Aod tho paymcots from the ‘I'reasury wus reduced 60 per cent in & single yeor, it was almost univer- enterpriscs which fired the finagination of aur people, and filled them with crazy enthusiasm. The saddest and most eurious phenomenon of that period, and one which the historlan will 5018 day rceord, was the delusion thal we wera then In the midst of great prosperity. Visiona of wenlth danced before the inacinations of en- terprising men, and they ventured everythingin tho wild and exhiferating chase, They roveled in the light of a confiagration which was con- auming their wealth, and called it the sunshine of prosperity. They lost sizht of the only snfe rond, the old, hard, roneh road, upon whoao tiu- per-post Is written: *In the sweat of thy facu shalt thou carn thy breal,” The delusion calls tomind the remiark of Becretary Chase, that ‘“an irredecmable legal-tender noto wasthedeyl! made manifest In pspor.” COMMERCIAL OANDLING, The fluctuations between the debt-paying and the purchasing power of our carrency created the new trada of gold-gambiing, The Gold Fx- change and the Gald Cleariug-House of New York will be remembered in history as the Ger- mana remiember the robber caatles of the Rhine, whose brigand chiefs Jevicd black-mall upon every pasacr by, It was o busincss that never added a farthing to the uational wealth, but in which everything galned by une was lost by an- other. It was simply betflng on what the dif- ference between coln and paper would be, and then emplosing every device to win the bet by increasiog the fluctuation. In New York alone, for many Jeurs a daily average of sixty millions “of capital wns withdrawn from Industry and invested In this reckless busincss, Its fascination spread to sil parta of the country. Each day some lucky gambler grew suddenly rich by the ruin of another. 1t thesa Josses had been confined to the gamblers alone, the evils of the gold-room would nave been less serlfous. But all our ‘mgla who were engaged in hooest Industry, all producers and consiers of weafth, were” made its vict- fms. The great conapiracy of 1889, which cul- minated In * Black Fridag,” Involved in ruain thousands of firms who wete followtng legitle nate business. As all our foreign trade w: measured by the cofn atsudard, the busincss of every lmporter and excorter of merchondise was st the merey of the **bulls ' and * beazs® of the gold-room, whose chief cffort was, by falr means or foul, to creata sudden changes in the price of gold. To insure himself ngainat this additional risk, the importer was compelled to increase hia rices. The Incrcase was charzed over Lo the jobber, and again to tha retatler, until attast its tlead weight fell upon the consumer of the goode. 'The exporter could protect himsell agninst loss only by paylog lower. prices for products to be sent “abroad, and 80 the whole epormous cost of scventcen yeara' of pold gunbling has been paid out of the earnings of the American people, But gambling wus not confloed to gold. The hubit engendered by a fluctusting currency which led men to sell what they did uot own, and borrow what they sola, wah carried fnto every department of trade. Bright, ambitious vouoz men, lured from the farm and workshop, sougbt thoir fortuncs in the seductive chances of the Stock Board, or in tha mysteries of *onticn sales * and * cornera® in wheat, Tho population of many agricultural Qistricta actually decrersed, Thecltles and tman- uiacturing centres ware overcrowded, Some lead- ing Industries, notably ruilroad bullding and tron making, wers greatls overdone, Aa speculation ncrensed aud credits oxpanded, thaery was ratsed that there was not currency enough, that the small measurs of contraction effected by Sec- retary McCulloch bad deatroyed tho peoples’ moncy and crippled their business, 1t was tho drunkard’s ery for more rum to steady his nerves, already shattered by drink, TR ORASH. Nothiog could reaist the downward tendeney; oand the wild dance went on, until, ot last, when no more could be borrowed, tho novitable DRy day caine, and with it the deluge of 1870. The vat fabrie of municipal and private debt totter- edand fell, involving in general ruln the indus. tries of our people. Wo bLave no meaus of knowing the aggregate of that cnormous fn- debtedness; but we may judge something of its nagaitnde by a aimplo example. If tho atatis- tles can_bo trasted, the municipal debts of 124 chief cities of the. Union Increased 200 per cent in ten years, and amounted, in 1876, to $644,000,- 000; aix! private debts had fncreasedd - in propor- tion, While the catastropbe mizht have been prevented in 1845, it was now too late to avert the blow or mitigate its soverity, Witn auch conditious the crash was incyita- o, Its dotails of Joss aud sufferiug need not be recounted, - # * LOSSES OF LABOR. t It brought fonumerable bankruptcles and *Josscs {0 capitalists on every hand; but {n tho whole aad chanter of calamiiles the laborers of our vountry _have heen the ‘greatest auffercrs. 11 tho employer grew suddenly rich by specn- Jation during the period of ° expanston, his workmen dia not stiare his riches; but, when ho suffered the destruction of bis busincas by the crash, they shared the disaster by losing the opportunity to work. During the period of expanslon the wages of labor were somewhst fncreased, but tho cost of living incrensed still more. When prices de- clined wages wero the Brat -to fail. Tho capitalist can take sdvantaze of the moket. It he lms anythipg to buy he is not compslied to buy it to-duy, hie can wait for lower prices, If ha has onytbing to schi he is not compelled to scll at once, but can soll at the best advantage. Not so with tho laboring man. 1fe gues into the markct with just ona thing to sell—his day's work. Ilo nust scll It to-day, 8t to-day’s prices, or it will o wholly fost. What ho necda 1o buy hie must buy when neceaslty compels him. Fluctuation the money staudard ls a senes of value in ref- ererca 1o currency as compared with commodi- charged. ties," and the opinion of another member, who dlclcfnrcg that “J"i #andard in neithcr ur:h\ o sliver, but something eet up in the Linngivation to be reniated by public oninfon.! Testimony of the Prisoner and When we hava fuily awskencd from - these His Family. vague dreans, ruhll: opluion will resume ftaoid ehannols, avd the wisdom and expertence of the fathers of our Constitution #il) sgnain be ac- knowledaed and followed. We ahull lcree] as onr [athers did, that the yaril-stick shall bave length, the pound innst have weight, and tho dollar maust have value in itself, and that nwither length, nor welght, nor valuo can be created by the flat of law., Con- gresa relieved of the arduous task of regulatl aud mansgiog ai the business of our people, wiil sddrens itaclf Lo the humbler but moru im- vortant work of preserving the public peace, and managing wizely the reyenucs aud expenditurcs of the Hovernment. Industry will no longer wailt for the Legislature to discover casy roads 10 sudden wealth, bot will begin againto rely upon labor snd frugality ss the only certsin ronl to riches, Prosperity, which has long been walting, is now ready to come. If wodonot rudely repulsc her she will soon revisit our peo- ble, and will stay unt{l another periodical craze shall drive ler away. TAR TRIAL OF TIE CONATITUTION, Daurlng the whole perfod which Resumotion closes, our Coustitution has been on trial for fts life. When tho greatest rebellion tbe world has ever known assatled It, the bellevers in (Governments founded on hereditary right, or on sheer force, told us that the bubbla of Rte- pnblican Government was sbout to burst. They dia not understand the resources of n Guvernment bascd on the national will, They did not understand that in our Constitution the reatest powers—rights too precions to be dele- zated to the Congress or to tho Htate—sre re- rerved to the peopls themselves. In the supreme moment of our peril, these yoluntary powers were displayed in unsurpassed majesty aud strength, on & thousand battle- flelils, and they preserved the Republic trom averthrow. Many feared that in thie great strugylo to esve the ‘Union personal ‘Hberty, freedom of oplulon, and respect for law, would Dbe Jost. But, outside of the actual theatrs of military operations, the arderly course of jus- uice was undisturbed, Tne rights of porsons and property wers almost everywhere sacredly preserved. During the great conflict between Great Britain and the first Napolcon. though no hos- tile nrmy landed o hor territory, yed fn Edgland {tsell, a8 we are told by one of hcr eminent his- torians, -the ordinary course of law was sus- pended, opinfon was gageed, the right of public meeting was curtalled, Governinent indictments for lbet and trials for constructive treason werg numcrous, and other measures wore adopted far more repressive than any which prevatled here during tho great War on our own soll and smong our own titizens. Prof. Goldwin Smith has noted with admiration the behavior of our people aurfog the crists. He s “ History can scarcely supply s parallel to nerfect re- lanea of n Government on it moral atrencth and the unconstralned lovalty of its people. Tha second clectlon of Lincoln took placo at the acme of excitament, when every other 1am- fly bad & member fu the field for tha Unlon, or in a soldier’s grave. Yet there. was not only perfect order malntained without any intervention of the police, but perfeet re- spuct for every right, not only of voting, speak- ing, and writing, but of public demonatration, What Government in Europe could safely hsve allowed sympathy with a great rebellion to bang out its banner in‘all the streetsi Never to bu forgatten, either, aro thoss predictions of mill- tary usurpation aud sabro rule as the sure re- ault of civil war, uttered with exulation by ene- 1nles, with sorrow by friends, warranted iy the experience of history, but belled by tne Repub- Tican loyalty of the Generals and thie iImmediate return of the armies to civil life.” ‘This testimony from a emlne&\t forelgner is as important as it s just. Thé people passed cheertully and joyiully from the ambition snd glorics of war to- the humbler walks of peace, And finally, notwithstanding the contusion uf public opinion, vaused by great suffering, the public falth bas been preserved und the national character greatly strenzthened. Reviewing tho wholu period, we have & right to say that the wisdom of our {netitutions hns been vindicated, and our confidence ju thelr atu- bility has beeu strengslicned, Legisiation beon directed more to the enlargement of pri- vato rights and the promotion of the interests of labor, It hias heen devoted not to the glory of o dynasty, but to the weifarc of u peaple. Slavery, with the aristocracy of caste which it engendered, aud the degradation of labor whicn it produced, is dead, and its cflcets are dinap- .peuring. Without unduc exuitation, we may dectarc that the beils of the uow year Ringont a elawly dylog csuse, And ancient foring of party atrife; Ring in tho nobler forms of iife, z ‘With aweeter manners, vurer laws, Wa have learned the great lesson, applicable alike to natlons and to men, that Belf-knowledge, self-raverence, asif-control— Theaa three alone lead 1ife to sovercign power. Gen. Qarfield was listened to with a calm marked-attention, and was frequently awarde: with lond, earnest noplausc. At tho close of his remarks, Mr. Bhoray czlled upon KENATOR IIOWE, The venerable Senator responded by saying that he might us well try to supplement tho specch ’}ult delivered with any words at hix cominand as tg accompuny the grand musie of 8 great ehurch-organ with thy puny music of s poplerwhiatle, He REAUMPTION A SUCCEAS. That resumption can now be maintained, {n- teltigent mep no longer donbt. There are Jocked up in the vaoitaof the Treas- ury tosday 140,000,000 of onin, with no otber demand upon it than the miafntenanca of the greenback at par. All experlence declares that this reserve 18 amply euiliclent to malntain re- rumption. Bhould™ ft prove insuflicient, the Secratary of the Treasury has both the autbority and abillty to increase it. : The people will have no motive to demavd any great amount of cuin, for paver at parfs more convenient than gold or silver. Tho banks are bound, both by law and thcir own interests, 1o ald fo maintainfug resumptlon. The smount of national bonds now held abroad {s tov small to enable foreign creditors to drain us of onr coln., It necessary, we can sell to Europe mors of onr 4 per cent bonds than she can send hoine of our fi per cents. UOW RESUMITION MAY BE DEPEATED. But we must not assumo that sll danger is lmu Resumption can be defeated inone of wo days: First, by zeat and unexbeeted calame Itr‘. hika war, or tho genaral falltire of our crops, which should turn the balance ot trade sentust us; or, sccond, by the hustile legislation of Cungress. Toy probabillity of the former is too remote to be seriously conridered: the danger of the Iatter must b prevented by the intetll- genee and vigilaoce of our people, “Though the opposition to resumption has shown great atrength io Congress, even down to a very recent date, yet, now that par hLas Leen reached, Ido not betlova it will be_longer nssniled by direct legielation. The instinet of scll-preservation wiil prodably lead politicians to apandon such efforts. The real danger ifes in indircet_assaults, which may be made in several ways. If the expenditures of the (Government should be ncreased by large appropriations for the varlous schemes which are urged upon Con- gress, 80 ax Lo produce a deflct §n the revenuces, Father than levy additional taxes Congress will be temnpted to fseue more greenbacks, and carry expansion to a poiut at which résumption wifl break down, Rigurous economy, aud a persist- enc malatenance of revenue spfliclent for uceen- mary current expensea ‘ahd for the Sinking Fund, will be our safeguard In this direction, THE DANK QUERTION. ‘The most dangeroun, Ingdirect assault upon resumption fs the sttempe to aboliah the Na- tional banks and substitute ‘additional grecn- backs in place of bank-notes.; This effort will call to its support the sentlnent which, to some extent, prevails againat moneyed corporations, Should the attempt succced, It will inevitably rerult in suspeusion of specic-payments. While the Treasury, aided by the bauks, cay now easl- 1y maintaln at por tho outstanding volumo of greenbacks, resumption would unquestionably break dow, If the volume wera fucreased 8320, 000,000. e must debata! ths bank question with our exes opon to the certainty of this re- sult. And this aught to be declsive agninst the measurc, But besides destroving resumptlon, 1t would be a most raaical and dangerous_revo- Jution In our avstem of government. Paring the poriod of War and Teconatructlon, ‘many good peupla were alarmed at the tendency to ceatralizo power at Washington; but the propo- sition wo arc now considertug would result fn a centratization of power withont a parallel {n our lstory. Before the war, axcent for the purpose of furnishing small change in the form of sub- aldiary and tokon colnage, it was never so much uggesied that the Government hed any right to becume the proprietory tnanufacturer of noney. It was the acknowiedged duty of Cou- gress'to daclare the valito of-calos and to coln the bulllon of Prmna citizens which Lhey might bring to the miut - for that pirpose; but it bad no authority todetermine vulume of currcacy or to regulate its distribution: The substilutlon of rrecnbacks for Natlonal hank-notes {8 proposed on ‘the theory that the Treasur, ould be couverted into a work-sbop for the manufactureand sale of moncy ; that not only its suality but {ta quantity and distribution shnll dopend-salely uvon'the will of Congress,’ 'T'o force a ¢itizen Into the army, and put bim in tho front of battle without his' consent thought by many a vicient invasion of private «righta; but for Congress to sesuine the power 10 rulse or depress all prives:td change the valuo of overy purchase and of every private cootract, would be's usurpatiol df véwer the most des- paticand daugerous ercr bropiused to Americans. CURNERCY 10 MKKT THE WANTS OF TRADE, We are told that the peoule demand s volumo of curtency rutllcient fo thy'wants of trade. 8o they do. ~ Nut what ‘roon cor set of men is wise enouch to neasurs ‘these wants, and do- clars the exact voluine, of currency that will meet them? g 3 P . ‘SBupporoa ‘hundréd wiss ‘mén.of New York shouid take ihe: contract ol housliig, clothing, fewding, and supplytng the whnta of the miliion neople who live on Manhattan sland. Reniem- ber that rll natlons aro placed under conitribu- tion to supply that citv. ‘Ino ships of cvery sea are Ianding at hier docks the products of every: clime. Hallway #fralne from covery quarter of the Unfon are pouriug in their contributions, Millions of people In various parts of the worla ara at work creating the nerchandise which the uity needa, IHuudreds of thousands of herown people are busy ureparlug thesc products for ber use. 18 it possible to conceleve that the wit of wan in able to deviso any artificlal aystem b which the fnfinite daily wants of New York sball be .aceurately measured and constautly aud promotly suppliedi Extend the scheme till it shall émbraco tho wholo Union, with ita 45,- 000,000 of people. Is un{ Congress wise enough to meusura wll this vast Dusincas wnd to determive in udvance Just how much eurrency Is nceded to transact 1Ll To propost it fs to kak fmpossibilitles; und yet, by the vperation of lawa higler and more potent the accused, was next called by Judge Botden, wha apoeared for the people. Hedidnotdelieve ° that his mind wassound ; In fact,hea long doubt- - cd b is sanity, and had recently spokén totwo friends abant It. He had heard all that had been ) testified to, and_did not deny its truthininess, * au'mnnmll{‘. Ho had thteatened his dwn lifa and that of his parents at times when he was ex- cited,but would afterward apologize for bis ton- duct. Dr, Jewett had treated him yearsago, and it was Brat sugwested to him s few day, that v * his sanity be tested. He had taken ¢ outy and used ft lul;rlnz private debts, butdid not ' payall heowed. The largest amount pald to any one person was $278. When bo took the money ho dil not think of the consequences, or how fin* was golng topay it back. e koew' it was * wrong, however. Hedlsposed of the bood’ to Treston, Kean & Co., and spent some of the money foolishly, but be did not know how much. He visited both Grand Haven and Milwsukes doring the summer. He bad kept late hours, but In the morning he always feit refreshed, Do often feit thrat every nerve in his system was - tazed to {ta utmost, and several vears sgo” he had cause to douht his mental condition. e used to drink occasfonally, but the last few months he bad been au habltual drinker. He suffered & great desl from pain 1n the head, sad could remember dates quite well. He was fally aware of what had been zolngz on, &nd wanted to be treated. He had fits of excitement and nervous prostration, and it was very often the morning ! he was not strong enongh to dress himsclf. His general health was good, and when he had made thrents aguinst his parents and himself he did not know what he * was dolng, although e could remember having tnada thr and apologized for his condnet at Farwell Hall. Importance of Pui"tlio Foith— The Mistake of 1885. . Afew days ago, it will be remembered, the streets were slive with rumors ahout the Fideli: ty Deposit vaults having been robbed of a large amount in bonds. Following up tho rumors, Ucorge Blalkie, one of the employes of the con- cnrn, was errested, and he confessed to having stolen about $3,0C0 in boutle, and to baving se- creted In the vaults about $47,000 more. Tlis story was found to he correct, as far as {t went, but it did not go far envueh at the time to allay the supposition that the small theft was but the comincncement or part of & scheme for one of s wholesale character. {n any event Blaikle was brought before Justice Morrison the next morning, snd to the surprisc of cvery reader of the papers his defense was {nsanity, aud so decply hsd the theors been impressed upon Recelver Turpin's mind that he absolutely refused to prosccute him untll the question of his sanity could be judicially determined. The prisoner was re- Ieased on bail lu the sum of $2,000, snd his pa- rents, who aro respectable and quite well-to-do, made good to the Fidelity what ho had taken. Yeaterday being inssue day in the County Court, Diafkie was brought up for trial, looking and scting as sane as any of the erowd his case Nad alteacted. He was accompaoled by his mother ond father, his aflanced, and Judge Woodbridge, stlorney for the family, and_also several of the lady friends of his mother, anid medical men who had uvestizated s condition and attended him professionally from time to tine the Jost few years. MRS, MAIY J. BLAIKIE, his mother, was the first witness. Sho sald he ‘was 52 years of age, and had always heen an al- fectionate aon, and anythiog like dishonesty was forcign to his nuture.” ¥e was cheerful and fo- dustrious, fond of home, tempernte, and hls general habits were unexceptionable, Inthclast two years thero had been n perfect chango In him.” Ho was nervous, less afectionate, and in conyersation seemed Incapable of consecutive thought, und would laugh at the wrong tlme and act foolishly. Recently for the most trivial cause ho had threatened her Jife, and at times had been violent In bis manncrs, and she had feared him, Months before the Fllelity Baok trouble ho had expressed the greatest hatred for her and his father, nod his whole system apoearcd to ba racked, He was a ‘great slave to the use of tobacco, and this, she thoumht, bhad broken hhn down In connection with his sedentary life. He was cogaged to be married, and rometimes spoke of his aflanced fnthe greatest allection, sud then sgain very reverely. She thougiit he ought to be confined for his own good and safe- ty. 'Tho witness' brother, Mr. Elmer, had com- mitted suiclde while insane, and a sister ot hers ‘waa now of unsound mind, ' She had otten tried to get the accused to quit husiness and go into the country, but he retused. Witness had bicen in delicate henlth for four years, and the sccused had not lived with ler but with an uncle. She often saw him, however, and for two years past his whole demeanor toward her. bad been changed, She did not know tho canse of her Dbrothier's Insanity, nor yet of the unsoundness of tho wnind of her sister. Sinca the Fldclity trouble he bad been stopplng with ner, and was quita violent, unbalanced, and had mado threats to tska her We ard also his own, Hebad threatened her as long ago as May Isst, He bad slways had money enough, and, belug economical, had never bhad any alatress in this direction. The Era of Specilation and the Crash of 1873. Process of Gradual Recovery—Passage of the Resumption Act. "The Success of the Measure, and Its Ultimate Effects, He Opposes the Abolition of the National- Bonk System. The Deeting Adopls Resolutions of Rejoiclag at the Aecomplishment of Bmmptloy. E The comparative greatness of the attendanca last night at Farwell Hall—at the speech of Gen, Jamés A. Garfleld, ol Ohlo—must have been as pleasing to those of the Honest-Money League, under whoss suspices the meeting was held, us it was lodicative of tha strength of the popularoppositina tothe fat-money lunacy. With the mercury laboriog under the cold and calm delasion that its duty tosuffering bumanity was 1o coutract iteelf as much as possible, when only a few weather prognosticators and specu. lators were thereln fotcrested, It was not to be expected that people would turn out ss in the balmy soring or mild September, even thongh the futerest at hand was greater and the atirac- tions more fempting. . It fs sufficlent to gay that the maln floor was filled—the gallery almost empty, The character of the sudience was beyond reproach. The men Jooked sensible and In earnest. Thoy were not of the common order,, They bad not come out of curiosity. They camo because they wero intereated in_the honesty of the natlonalcur- rency, aud plossed at the restoratiun of that currency to ita correct position fn the world of commerce, Upon the platform were seated Senator T. O. Howe, of Wisconsin; Ma). Bwain, of the United Ktates Army; the Hon. Willlam Bross, the Hon, William Heory 8mith; T. M. Nichol and AMr. Reudder, representing the Sccrotary and Chair- man of the Executive Committes of tho Hon- est-Money League; the Hon, D, L. 8horoy, and others, In the abscace of Mr. G. W: Allen, of Milwaukee, tho President of the Honest-Mdney Jesgue,who was dotained at homo by the severl- 1y of tho weather, Mr, Bhorey presided aod Introduced Gen, Garfleld, prefacing the fntro- duetion with the remarks that the only regret hie felt was that the weathier was 46 nclement as 0 keep at home many people who deaired to attend the meetiog. The meetiog had been called by the Honest-Movnoy League, becauss in theirbelie! and (n the public bellef, ho thought, so great an cyent.as the resamp- tion of specle-payment “after .'a” lapse ot gevonteen years was worthy of note and velebration. ‘The meetlog was. calied {n the - terest of the belief that. the currency should be kept so good thathe who earned one dollar could get an equivalent for ono” dollar. Those wha knew tho history of the world were aware that u disordered aud derauged currency. was tho cause of more trouble and ‘suffering than ony other one thing. Daniel Webster bhad given . volcs to such views. The speak- er ook great plcasure, he pafd, 10 Intrbducing to those present one than whom no une ‘was more fit to ‘Epeak -upon the ime portant subjoct~-Gen. Garfleld) ons of.. the- firmest friends ' of honest ‘money;’ond who'lisd: always malntalbed s confeyvutive; bafe, “ind, lrm posltion, aidy * it (iew.. Garfleld atepped to the front of the plat- form ainid groat epplause, and spokeas follows: « Mit. CHAIRMAR AND FrLLOW-Crrizrxs: - The resumption of suecio-payments cloacs the most memorable epoch of-our history sines the birth of the Unlon, Elghtcen hundred sod sixty-oue and 1870 are the opposito ‘shores of thst turbu- “lent sea whose storms so seriously threatened with shipwreck the prosperity, tha honory and tho Iife of the nation. But the horrors and dans gera of themiddle passaze havestlastbeen mas- tered; aud, out of tho night and tempest, tho Republic has landed on the shore of this new year, bringing with it nolon and berty, honor ‘and peace, H We have met to-night to celcbrate the closs of the War. Hattles arc nover tho end of war, for tho dead must be burled and thacost uf tha con- fict must be pald’ z The Unlon men of 1801 enllsted for the whols afterward, NO VERDICT, 3 The evidence endea here, and the jury re- tired at 1 o'clock, Dr. Davis belng foreman. As It filed out and passed loto ao adjoinlog room Blalkle looked on intently uatil the duor bad been closed on the last inau. A rooment after the door had been shut Mra. E. A, Bialkfe got from her seat and possed by him to go to the room and he was the _fhrst ta discover the impropriety of the move, he spoke to _her pleasantly snd fuformed her that they wonld not let her in, and an audlble smile vassed around the room. ¢ Tnad]nr,v were out untll 5 o'clock, and they aro understond to have had a lengtby and excit- g wrangle, and to have, on the tirst vote, best about eveniy divided on the question of the ac- cused’s sanity, They were ule to suree, bowever, and wero finally discharged. Another trialfs tobe had atun carly day, and in the meantime he will remoin on bail in the custody of his parenta and [rlends. phiinds e S THE COURTS. Record of Judgments, New Snits, and Mis« collaneous Husiness, In the case of the Chicago, Pekin & South- western Ralirond Company, Judge Drummond entercd an order yesterday direcHng the Re- cefver within six days to filo his report of his ro- cuipts and dishursements since the date of his - lant report, and also to show cause by tne 8th {nst. why he should not pay Into court $14,987.8 and Interest recently found due tho Chleago & 1llinala River Hallrosd Company. B Inthecase of the Eureka Coal Company, Judge Blodgett yesterday directed the Recelvar to pay the Intereat due Jaun. 1, 1870, on the bonded acbt of the Company oo recelviog in chapyre the conpons maturing oo that dates-* * Judge ‘Drummond yesterday overraled the motion for tiew trial fn the efectmeut case of Klernon ve. Booth, e was also engaged part of the day In hearing some arguments on tho form of the decree in the Les & Perros or Worcestershira S8auco case. 7 Stephen H. Kearney, scotencea by Judge Blodgett to pay a fine of 810 and costs for vio- Intlon of the internal Ravento law, was yester 2ay discharged uuder tha Poor-Cotvicts act, ‘fie quarterly nccount of Commissioncr Hoyne was presented to Judge Blodgett yeater- dnj and approved, 5 udgn Hogers was engzaced yestenday fn bear- . Ingz the canc of Frank Adame, formerly - Asslst- ant Corporation Counsel, agalost the Cigy of Chlcago to recover & fea of $5.000 for f’:nl services since his resignation. The case was l"l;}:a‘)‘lvd to Court, and the Judgo awarded b -« Jenkins wan_sppoluted Assigmoe of G Welelrs urmrnw:z‘-nmn g T : F, M. Biount. of Bdward Wdroer . . IL. B, Deane; and C, DJLusk of Gevree W. Younu. A first dividénd of 45 per cent was deelared to the firm creditors of Holllster & Gorbam; ‘Assignees will Le chosen this morolog for “Jotn C. Cocbran, Alexander K, sbaw, Hallwell 11, Compson, and F. U. Robinson and Ela F. Robinson. DI, 1, M. TOOKER was next called. He had known George Blalkie for tho last two vears, and had treated him from time to time. He rezardéd his mind s un- sound, and thought that Le ought tu he re- stralned for treatment. Tho discase, he thouglit, had been progresstve, aod had not yet reached ita climax. At onte time bie bad removed n amnall excrescence, and bad treatod bim since, hut had not prescri! uuy medicines for him the past year, e notbing of his habits rsonalfy. "The vxerescenco was the result of 4o ainted constitution, which had . been tnherited. 1 bad alwaye regarded him as wosk-miwded, and an excecding wervousucas bad claracterized his entlre conuiiet, ° ANDDEW BLAIKIE, the father of tho occused, 1as the next witness. 1n tho st few sears his conduct’ had bevnvery singular, but prior to ihat time his Integrity tnd nover been questioned. | Latterly he had n very lrritable, and witness had advised him inst mareylng u lady he was engaged to, on the ground that his condition was not good, e told him that ha would zo and talk to tho ludy on the subject, whercupou he threstened to kill i if ho ald. 1o wauted him to qult the hank, and for severnl inunihs bad desired to have Ul placed under treatment oo asylum, Honever kuew of his bavinz any bad hablts untll the lost few days, and had sttributed much of his nervousness to the oxcessive use of tobacco. Teeently ho iad often exoressed an sversion for ull of his {ricnds, whereas ho used o ba the most affectivnate andkind of children, o had ulded the boy Huanclaily somewbat, and Iulnc‘;lemd with hia sociul relutions for his own good. RUPERIOR COURT IX RRIEP. J. d, MeDermid and K, 1. Oertel begsn » suit yeaterday for $1,800 agalnst Henry E. Marble, Itniel P, Farnum began a sglt by capias against Jotn F. amd Michael Callaehian, part~ ners as Callaghan Bros. [lo aays that in order o procurs credit the defendants represented to hun that thuy owned a atock of bouts and shoes worth $10,000, and thot their debts did not ex- ceed the sum of $1,000. On these representa- tions ho sold them €1,107.04 worth of goods. e had sinco learned that these statetuents wers false, and that they owe over 84,000, whilo thelr War. - They served on the fiold of- battla until ! . B e ehues i bla warst ehotiy: 1t | than huan Jez(slution, w1l tbis fs ailently and | COUd Loty Lowerer, refrald rom Beieing tno DR V. A, TURPIN, property s only worth 82,500, ' Tho most ut It e inst obel Daf went down I surrender: | 281 admitted that the volume of Sirroney a3 | trikes bim both waym and sirikes him hard, | porfectly accompllshed. Milions of o, act. | opportunlty lo extend his conaratulations usou | Recslver f thu Fideltty lauk, was nestawers, fiaa heen seized. sod sold 'to_ satiely a cialm of they served fn the flold of legislution, snd at the | it e, e ot a1l met in the world tho laboring | [ng without contert, cach working for bis vwn | $9KrEat i eviite 4o TR fanpeped, fo bedt | tho had kuowa Blutkic some thne, aud he hwl | Mrs, Jobn ¥, tallaghan. Plaintdl tberstore batlot:box, until the last slaye was free and the | DUS'St | i e Influence of thia expand- | nan most needs 8 steady market and an unvary- | futerest in obedicneo Lo tho great Inw of demand | b pood-by, for bow long no one i active and falthiul mou, e had hod } asks that the defendants mav e compelled tu ne standard of value. “When lic has carned his wages ho wants to be pald fu & currency that wliil keep over night; that will bo worth as much when he uses It as It was when ho received it. 1make this plea for thoe laboring man, uot on his account nlone, but ou sccoust of our natfonal prosperity us well. Tho land of labor has bullt this great me- tropofis, has created Its wealth, and to-day sup- porta ita half milllon of peoplo. Within the momory of men who havo hardly passed the merldiad of life, Chicazo was an Indian trading pout, woich shcltered only & dozen white fatni. lics. In less thaw holl s ‘lifetimo the mogical power of lator hus made this city what we sce 1t to-duy. In oar country therods no need of contlict between capltal aud inbor; for capltalis only unotber wame for accuinulated iabor, Tvery inaustrious and Intellizent workinginuu 1ooks forward to the day when his carninga witl make Bin & capltalist, “There fs no Larrier of caste 10 prevont his ristng 1o tho highest place of honor and wealth, He asks no apecial privi- Tege from the Government; but ho does ask that tho law shall not rob him of employmunt, nor destroy his earnings by making them the lupr;rt. of the zold-room, the foot ball of spacu- atlon, Jast of the secediny Btates re-entered the circle of the Unfon; they seryed i tha public councils until the pflfl\l of our foreign rclstions were vnded by nonorable arbitrution; they have served during the flercs -trials of tho public 1aith; and they will not be mustered out until the equal rights of all citizens are acknowledwed and secured; until the pension of the last diss- uled soldicr of the Unfon is falthfully pald, a the last War obligation of the Governmont ls honorably redeewed, If the” resumption now declared by law be maiotaimed againat all assaults, then, indecd, so {ar s our finances are concerned, the War for the Unlon is ended; the vict: s complete, Will_onr greal sovercign; the people of all these Btatca, makco tho decree irreversiblo? Will sesumotion be maintatned ‘Bellevinz that, in the long run, the matured and dellberate judement of thisnstion is honest und intelligent, 1 answer, * Yes,"' it wili be maintalned ; and for tworeasons: Flest, becanse nattonal honat €ood government, and prosperity of all our people demand it: angd, second, becauso we arc ablc to taalutain {t, The defense of theso positions will be the theme of this aduress. PUDLIO FAITI—TOE BASIS OF FROBFEIUTY. ‘To the thougntful business men asseinbled hers-to-nlght, whose geolus and fudustry have uade this cily the great commercial centre of e Northwest, I need not arjrue the proposition that the lulmlilf of contracts is tbe foundatlon ' of ull fndustrisf prosperity. fn the complex tho combination of the large vault, and nothing ‘was ever'missed up to the mlssiie of the bonds, Lately he had acted atrange,—~would como to his office frequently, with no seeinin business, and would oy slllf':]uullunl Ilo thought he wus of unsound mind, and had lience refused to rosccute him for the bond robbery, Priorto he robbery he had never suapected him of being lnsanc, or that thers was nnnmmzv WrONE about bhim, and he first became satiaficd of My un- avundness of il by the bungling way in which the robbery had becn committed. o saw him in tho station after his arrest, and bo told him whero the otticr bonds were, but refused to suy what dlsposition hio hud mado of the missing ones. give ball for tho security of bis debr. Tho Eigin Nationa) Watch G a W e Elzin Nation: atch Company sued W, W, Wilcox for 81,000 Catheriuo Gerblr commenced & sult In tres- pass ngainat Poter Fox aud John MeLindun, clalming $10,000. CHIMINAL COUNT. ' Blily Marlin pieaded gullty of larceny, and " ehon 100 found gull rphien doors was found gullty of the lar- ceny of #2.50, and glven four years fu the He- form Schoul. ° Jumes McCoy was found guilty of larceny, and remauded. TUR CALL. . Jupuns Dauxxoxn—la chanbers. dupatt Bropurrr—144 to 173, {nclusive. Nos, 100, Whito ve. McDonald, and 144, Backett vs, ' dague, on irlal, aERENS upoE JANESON—200 1o 270, No, L5 we, Lati onlal 00t Beiy vbur Mooux—50, 51, 52, 63. No, . vs. McCord, on trial. : AN .I'nnul llllunmu»—rl_l‘;uIcml:t.“5 \Gstust Junax Buorn ~370 10 385, Inclusive. No, Kenhat vo. Kaastng, on tris. o 20 Junuk Fauwetl—Qeversl ousiness, Jinug WiLLiaus—1,080, iooertson ve. Robert- sou. Jipar Gany—Nos, 701, 703, 705, 743, T49, Té4, o s L Nos. 871, B73, 877, 8! i} 'noR Lounis—Nos. 0, o Doy BTe, gy, ST 8%, 000, JUDANENTS, : Rurgnion Counr—Conrrstiovs—J, Bylrsdwell, and supply, house, clotho, facd, and tranaport the people of tho United States, and carry on thelr manifold enterprises with parfect harmony and regulority. Auy ottemunt of Congress to adjust the volume of currency to the wants of trade by arbltrary Jegislation ‘is doomed to cer- tain and disastrous failure, ‘Chie Natjonal banking system fs that part of our financial nachivery by which the volume of paper currcuc,}' increaso or diminish in obedicnce to the Taws of trade, If the volume becomes excessive, thadr notes are returned to the bauks, to be lssucd sgaln when Increasing businces requlres them. ' The abolition of the Natlonal banks means the deatruction of this fudispousablo self-adjusting princivle of our cur- rency aystem. Burely, Intelligent inen do uot suppose we cau get on without » banking mof some kind. ‘Tlio bunk {8 the chiel insarument of mod- ern exchaoge, It is as nucessary to trade a8 the railroad Is to trausportation, It brinzs the bor- rower wud lender together, ond renders avall- nble for the uscs of fudusiry the luauable cap- ital of tho community, Niuety per centof wil our trage is varrled on by moans of the bauk 0 the foriu of drufts, checks, nud coin- merclal bills, aud ovly 10 per cent by th actual use of money which hias become the small chance of commerce. ‘The vist mass of deposits and bank credits is now subjected to scarchiug no- tlonal fuspection. If the powertolssuc notes bo taken froim the banks they will have o induce- ment toromudn undersuch scrutiny. We shall go ed volume of depreciated currency, and the enormous ' expenditures of the Government, prices had risen to an average of 00 per cent abova those of 1850-'61, They could not con- tinus to rise without great dauuer to trade, and atill greater danger to tho interests of labor, ‘We had a surplus revenue of a hundred milltons ‘por annum, and wero abundantly able to retire, gradually, tha excess of lexal-tender notes, and thus bring thoe business of the country safely down from the dangerous hight to which war spd Inflation had corried it Congress should not huve comnelled the new and sapiring industrica of peaca to put to sea in a craxy cratt ‘which was oll sail and o unchor. Tho UOovernment had iteelf produced the con- dition In which business was ulaced: and to withdraw from ita Iuterference, to undo the mischicf it kad caused by sllowlng businoss to be governed by the natural laws of trude was the Iminedinte and imperative duty of Congress. This altuation was clearly and ably portisyed by Heeretary McCulloch, fo bis aunual report o December, 1865, o demoustruted the fact that we theu stood at the parting of the way that one path, If followed with wisdom au courage, would lead down from the daugerous lughts of War prices to the safe level of solld va{ues and steady business; that the otler would lead throuzh Incressed speculation snd atill gre fon of credits, to inevitable sud ineasurelesa disaster. Btudled by the lizht of subsequent experieuce, the Becretary’s warnings mnow read like tell, to all solld foundations; und all through tho long years thet had elapsed, he knew that every nalriotlc heart must have burned with slmo Lo sco In every market-piace the tovern- ment’s “promises to vay. o had seen gold cain go up, or rather lio had scen thosolprowmiscs o don, til $100 in gold coln pouzht a fiat-full of paper that represcnted 8280 In “pramiscs.’ But the years and circumstances hod changed, end he bad seen Lthe ‘‘promiscs™ o u slowly, oot always stesdlly, vyear after year, il today ft uopencd that a man with $100 fo pald cain coull not et for them ono fraction of a cemt mare in *prowises.”’ The promise of the Republic was onco more as good as gold. Again ho offered h}n sincere congratulations that it waseo. [Ap- atiso, P Mr. T, M, Nichol then spoke of the propricty of rojoicltwr over the event of resumption, aud told a few snovdates showlug the folly of Flat- Ism, He offered the followlng : HEHOLUTION, which were adopted without and the mecting udjourned s Resolndd, Thai onr thanks are herehy {enderod 1o the Hon. James A. Garifleld for the ahle oxpoul. tion of sound fAnancial views to which we have Just livtencd, apd we Liope that such practical and enlightencd atatesuianahip may be extended ontil the entire peonle of thy Ltepublio are cducated In 13 sconomy and unuil false and ¢ banished from our midst. olesdy by tha citizens oy’ Chlcago Aere ¢ MUS. JANE C, HOUM, asister’of Androw Blulkle, wos next caled, George tiluikie hud Jved with Ler fur the past fuw yeurs, She had known him siuce u cluld, Up to his #0th yeur of age he had besn a model man, and his word was as good us bis oath, 1o was dutiful, ufectiovate, and kiud; alwavs zoady to take advlead but li the last two years she found his ind wandering and bis_meumory poor, und ho was ot times disrespecttul and vio- lent, He began Lo speak disrespectfully of his parentg, and refused to write Lo theni, and all of her renou(mi with hiin was in vain, Jost samuner Loy left home to go te Grand aven for a day or two, but, fustead, nt to Mlwaukee, Ho had grown to ho srrogaut and abusive, and mu|l|yl-l||cd that e did not sleep well, and hud changed iy overy 8y dissentiog votu, RECOVERT, 1t tho forcgolng analysls is° correct, it must bo scen that depreciated and fluctusting cur. rency has been the chtef cause of our recant disaaters; and this viow accords with all expe- rignce 8l home and avroad. - by e bled vehalr af the great Northices!, That we | respect. —ilis condition was often dlscussed hf ' . wny aelieately-adjusted relations of modern so- | prophecy. At frst, bis policy was gonerally The same story has been reported in every | back to the wretched avaten of Blate bauks and wnm",,,,,,,",, Tion, Jotm Shorman, fccretars uf | the family, and the greatest solicitude hal be use of Kanolo H, Wymsn, vs. Solamon M. Wyman, cloty, conflaence lu promiscs Inwfully mado is | approved. In Deccmber, 1505, the touse of | Janguaze, and in"every nation. Recovery from | private broker shops, and creat thres hundred 3 » v hbenrelarg ol { Ehs ST R greatest & had been § $10,URH, —Iacol Wyman v, Kuuie, §2,015, ~Pater e Tierblaad of trade and commerce. 16 b the l(‘:mucnuum. with but ‘six dtssenting votes, | such disasters has come In only ona way,—by | and twenty millions biure of paper CUFTCACY, s 1o on tne succeastnl return to speeto- | felt for Lim, and they hud seen, tho pecessity of | Roomer v, Paul Maester, Frunz Eogels,nud Josepls aymen| 1 the accomnhispinent of which great ?w’rk he has borno vo distinguishied a vart, g ———— * Communtsm Decuylug in France, o e, Toile. Rlght yesrs have clapsed sinco tho tragedy of the Jurld and bloody rale of the Commune in Parls: The Empira ave way to s Provislonal Government ruled by monarcblsts; the Govern- ment rulon by mouarchlsts has now given way to u medurate, genuing, and orderly Ropublie, What made Boclalfam stroms in the daye of Louis Pnllippe, whut muda Communisimn strong th th days ot Naooleon [11., was the fact_thut the people biad palvable gricvauces sud suffergd palpablo u{mreulun: and these wero the fruutly, aud fanatical, and desperate medis by which thoy sought to abollsh tue gricvances and to throw off the ovpression. Now what do we witness under the moderate Republicl Every Freuchmun bas become tho egual of eves other, The exusperating restrictiune upon freedom of the press wnd of eotior bave been to a Jarge degres rawoved, Thu bals lot fs sucred and protected to all, The will _of France ts truly retiveted tu the Legistature, The Preaident, a monarchiaty submits to that will aud subducs bis own. The ericvauces of the Empire Imvupn-u( much vauishe Thero s in short genulne ftepublican Huerty In Fravee. AnJ what has been the eflect of this change un Boctallsm? 1t has seatened 1t and Soclutlsm 1s dying, Well-ordered Huertv I it4 vermituge, Tude fatal to lt. St atarves it to death fur weut of its necessary suatenunce. Bo cumpietely, fu- deed, has Boclalisu becvine powerless in France that Hochcfort’s fucendisry artlcles,' frecly oriuted, are treated with 3 wise und sale vou- tempt by tie tiovernment. 3L, do Marciue, the aule sad houest Republicsn Miuister of the In- terlor, declared fu u receut specel that * Thern is no uation where falso aud vernicious doctrines totching the orgunization of mcl.el’y tnd less echo aud less favor chan In France.” e e——— A Leagthy ¢ Bologna." #How much shull you charga for s Bologna sat e that will reach from ooe of iny ears to the other ! asked a soldicr in Berllo of a deater, “FifLy kreutzers,” was the roply. * § take o offer,”” replied tho soldicr; “onoof my ears waa cat off in battlo 8 thoussod miles from here.” There was » compromise.” restrainiug aud treatlng him. DR 3. 8. JEWETT . was the next witness, He saw Blalkie two or threa years ago, and had seeu him since, From what lie hud obseryed nud heard of hiin,—rely- on the evidenen lold bafure bt ~he 1 not rezard him #s of sound mind, or that b had been sound for sowme time, Heroes change in his manncrs and hisbits of Jife, ritablilty wpi trewmor, us proof that his nind was unsound, flo thoughe the accused shoull ho restrufued and treated, and char such characters | were unsufo 1o soclety, He knew of no causes fur Dbis conditfon beyond the axcessive uso of tobageo, which” ho did not regard o8 sufllcleut. The indicatlons were, howover, that, since he partook ol the typo of that branch of bls family whera fusanity was found, the dlseaso was possibly heredital Ho had talkod with hlin tho past fuw days, an while his convegsation was ralher conaecutive, ho lind noticed & variation lu the size of tho vupils of tha cye, sud bu regarded him as of unsound miud. ) Xus. MAT 0. uASOY, 4 cousin of Blalkie, was tho next to testily, Bho bad known biu sincs bo way a/boy, bub had been swuy trom bim for. thres years prior to Qelober, © Sho noticed & valnfy)’ change In his coudition when she saw him Ip Ocgoter. . Bl olten called ot the ouuk to seg hiny afterward, anfl Ly alwuya spoke of Lavivg loaned w frieqd $16. lo would never look bey fu the face, but would tuke ber by the urm ynd whisper, Ho aj.0ke to her soctiues ubong tho lady b euzaged to, and st ono time wonlil & per, aud then aguln that he ed her 8 kil her, Sho was saclatied thas . his mind was unsound, and bad often tulkod the watter over with tho Tamily, M138 ALICE BEAVAN was tho next witnuss. Tu had known Blalkie about clehicen months, ynd was caguged to by married W blm. - When sbe first et him hs was affectionate, murltpun' and kindg, but he changed very muterisily In his conduct. o in- sisted on her golug tos party with i oncs for two weeks, and. after sho cousented, bo camo around and sald he did not intend to go, soid withous any cause set about cursine ber in & very viulcot viunger. ~ She saw that his miad was uasettled, snd spoko to blin about break- ing off thelr relations, aud he tuld her be would Heunoldor, $47 JUnoR J AuE onry Cork ve, 7. 1. Martin- dale; vurdict, Hradley vs orye i. Yeager, $31.60,—Juscph Broat ve. Josoph and Kuzenyer Wars $1, 21034 . Haidwin vs. Juipen N Dag verdict, Niaus Mc- Gregorot sl Ve, C, A, Hohoris. $200,--Pster & Vogel Lenther Co., ve, Jacou Jubnson; verdict, $100, and wution for new trial.—If. J. beldon . es B, Colt, $400,72. neuiy Count Conrassions—Pranklin Bowes va. Samuel Goodfriend, §0:20. K0, —Samuel Bhoyer stal, va, A, J. Vau Plersyn. 81,615,028, Jurnog loorns—Frank Adama va. City of Chl., cago, $1.000. Jupox Bootu—ilenry Priedman ve. JohoSathere land; verdict, $10,6% economy, reduction of credits, and & roturn to the basis of real money. By theso mcuur, and 1n the midst of great sufforing, our}uupln have baen alowly making their way out of the ruins. The tiluslon of the scven yeurs which preceded thio erash buve been rudely dispelled, and we have been Lrought face 10 face with realitivs, 1t has_been s period of adjustment and ment. Prices havo settled back to the old level; tho wrocks love been wradusily cleared away; the vevival hus begun. Tuo products of our labor arv agaln fuding thelr way to the markets of the world. Durlu[i the Jast threo yesrs, fn our forelgn trade, wo have suld six bundred millions more than wo bave bought; and the balance in our favor i jucreas- Iog, Less than two bundred millions of our national bouds are now lheld o Furope, uud moro thau two-thirds uf them ure lon bonds at low Interest, ‘Tue favorably balapce of trade has made resumptlon comparatively casy. BESUMPTION ACT OF 1573, Four years ago Cougress saw auother oppor- tunity to place the business of tho country again oo s stablo foundatiun. ‘The law of 153 fized the date when the promisc of the Wur should bo redeemed. 1t was o great act of ua- tions) faith, too long detsyed, but madu doubly Decessary by the uuflcnu& of our peoole, ‘thic eftort to'kecp this promiss bas beea ficruely ro- sisted st every stage. Orators in Couzress aud out of Coucress buve demonsirated, to their own satlsfuction, that resuwption wus i passt- Dlc, sud the demoustration has been repeated even as Jate as two 1oaths agu. Cobbett, tue grest Euglish pamphletecr, de- clared, in° 1516, tbat resumption In Eng‘nud was tuipossible; aud Le publicly offerod hhuselt tobo brolled on 8 gridlron oo the day when cash payuients should b resumed. For years be kept the picture of & gridiron st thu head of bis paper, 10 rewind his readers of his prophecy. We, too, bave our gridiron prophets, but all their predictions bave falled. Aualust determined opposition and ropeated rovliecies of evil resumption bas comes and t bas como to stoy. As fsald jn the outset, ft will stay, because it ought to stay, and because we urc able to waitain it Iu ‘anticioation of its cowing, tho busioess of the country has gradusily adjusted itacl( to the colu standard. Every legftiuate enterorise will be bevetited by resumption, sud ol classcs of the cowmunity which willescupe ull taxation, On every principloof public policy the at- tewmpt should bo re .~ 1t ought not to suc- cecd, und I do oot believe it can succeed: To innke restinption sure,we should Insist thatour present curroncy und comage laws shsll re- maln for the present. unchanged. Whether wo cun safuly sllow tho Qovernment to keep $340,- 000,000 of currency fn circulation, and to that extent taake the ‘I'reasury a bLank of issue, re- walns to be tested by cxpertenco. For inyself, T doudt Its wislom s & peruianent policy.” But lot the experimeut be 1alrly tricd. La’er an, somo moditication inay be nceded io our coinage law. If other nations perelst tn thelr refusal to restore sliver to its old place of houor, as 8 part of the world's coluage, If the vrincipls of bi-metalllecurrency should be prac- tically abandoned Yy other natiuns who have long wajutaiued it, we may, by and by, encout- ter serious ditlienitics, us ‘our eoluuge of wilver fncreases. [ du uot believo that our veopla will wllow eitber wotal to drive thu other out of cle- culation. In soumse wise and just way they will tnect and avert tho danger when it comes. LY¥FECTS OF RRIUMITION, Buccessful resumption: will greailly wd in bringing ipto the murky aky ot vur politics, what the signal-service people call “clearing weather.” L puts ou eud to a seore of conim- versies which bave long veXesd the puolic mind, aud wrought mischicf to business. It ends the sugry conteutlon over tho difference between the inoney of the bond-halder and ths money of the plow-lolder. It relicves enterprisiog Con- gresamen of the neceasity of futroduclog twen- ty-fiva or tofrty bills u sesslon to furnish tho peopla with clicap woney, to prevent gold-gaum- pling, sod to make cuitom dutles payable m greenbacks. )t will dlsiss 1o the Hmbo of things forzotten such Uloplsn schicmes as a cur- rency based upon the magls circle of lutercon- ‘vital air which labor breathes. Itis tholight ‘which shines on the pathway of prosperity. Tho Dbetrayal of ons great busiuess trust by w single ‘private ¢itizen may begear & thousand end paralyze the Industry of half a city, An a¢t of bad faith on thie part of & Btate or 1municipal corporation, Hke pulson in the blood, \\(fll tranamit ts curse to succceding gcuerations. Examoles of this are not wantivg, An emwlnent vitizen ot Missisalppl, s geotlewan of uational reputation, recently declined an fisportant and honorable bustucss ilsslon to Europe, in behal! ult the Houtlern Board of ‘Trade, ou the ground 1hat his usefuluess would ba seriously fmpaired ‘by tho face that Europeans still charge Missls- #l rf“\vuh tinanclul bad falth in ber leglslation uf 1. Thus, & stugle act of repudiation has ast {ta blighting shadow across a quarter of & century, still clouds the prosperity of a preat sitate, and cripplea the fnfluence ol' its worthiest ut alth on the part of an {ndividual w city, or cven a Buate, fa A umall eyl ia conpar: aon with the calamities ,which follow bad faith on the part of 8 soverelgn Qovernment. The United States 18 still a debtor nation, mainly, it 1 true, & debitor Lo our ows people; but alsd, to @ great extent, a debtor to the people of other nutfous. Wearestillin the market saliciting Juans with wbich to ro-fund our great deht at a lower rata of {uterest. Every dollar thus re- funded reduces the sooual borden of interest; und to that extent the Uovernwent cewses to Lu a competitor to privata citizens in securlug lJoans. Any uct of bad faith, thurefore. tends to wreveut re-funding, teuds to proveot the reduc. tlou of the publl: burdens, and keeps up tho yute of fnterest, both public and private. AVur bonds bave becows the basls of private lutercats, fuvolving bundreds of millions of dol- Jan. The vast sggregste of fovestments by Ixcu]l:h of small means io savings bauks, jo uariue, aud life-inaurance oud the catates thousands of -widows sod orpbans depend largely for their value upon tho security sud steady value of Governwent obllzations; sad suy faw or polley which tends to deprociatc m:-a:bllfimalu: rlin !;Om;mll‘lkfll!d v.hroluuli all chaunels of private business, carryiog loss dixaster to mlilions of citizens. 5 THR CURKENCY AND "THE PUBLIC PAITIL . At 1o Fisk of repeating wuat nisy Le fugiliar {0 every oue, let ks cousider the relation of the Y‘“““"“ {tsell to carly resumption by reduclig be surplus voluine of currency. Barlv in 1860, bill was prepared which srmed the Becretary with the requisite authority. But, befors the debate closed, muny zan to shrluk from tho responsibllit ot spplyiag so heroic 8 nmua{v. hough l‘)pruvhm resumptlon, and admitting tho necessity of re- ducing the volume of curreacy, they hesitated to sdopt any measuro which would reducs prices and for the thne check the activity of trade. ‘The dangers of lzacticn and delay were clearly pointed out fn debate. The citizens of Chicavo are not likelv to far¥ct the clearuess and bold- ness with which the [fon. Johu Wentworth, then a member of tha House, predicted the ovile which inactlon io timld and half-woy incasures would fnvolve. L.ate in the sesilon, tho bill was passed by actose vote: but the powers con- ferred upon the Secrvtary wero so yeatricted that before tho remcdy could be fairly applied, the ers ¢2 wild speculution ad begup, and the curreut was soon too strong to ba restricted. In less than two vears, Cougress, over-ridiog tho President, nmhl‘nueu tho further retirement of Uulted Btates notes; and all attempts to re- sure specic paymentaaud return to solid values wers, for the time, virtually sbandoned. BEA OF BPECULATION. The hizh prices of all howe nnxlucta‘l mess- ured as they were by the standard of depreci- ated cirrency, mgde it impossible for our manu- facturers to sell thelr warcs o auy foreizn suar- ket. Our exports fell off beyoud “sil precedeut. Beaides the breadstutls, whl.ril Europe could not buy elsewhere, sud the bulllon dug from our mines, which was virtually banished by our laws, baraly s product of "Awmerican o 'y crossed the oceau, At thesame titne ours was the most tempting markel fu the world for thy sulo of forelyn mercbandise. We were paylog the highest prices kuowu in moderu times. A of forcign fabrics poured in upou us, aod the great balance sguiust us was pald in bouds of the uatiou, of the Htates, sud of wunlcipal sud privats corporations, bunds besrlug the highest rats of colt luterest. It Ls catimated that, during the scven years which preceded the panic ot 1873, nct less than ouc thousaud millions of Amcrican bouds wery sold abroad. Pur<dav was pusbed out of sleht. ‘The present posscssion , of this vast [nflow of borrowed capital led its bolders to —— A Little Jockey Iu Distress, Nue F.rk Gravkic. A wiry-looking fellow who styles himselt Urish Wharton, # juckev of Hacramento, Cul., was brougbt beforo Justice Otterboury yesterday by w oflicer of tho Western Stcamndoat squad, to whom be hiad surrcodered hunself ss a vagraot with o homo aud yothing to est, He was blue with tho cold, and had bothing on but a tbin Mttle jscket buttoned tight up to bischioto couvesl the waut of & shirt. *\Yhen uid you comu bherel” asked the - . wAbout two weeks ago,” replied the boy, “rand [ bave tried 'ard for & fcb ever sloce, bat 1t scems as 42 uo onv wiit belp toe, gud I can’t stou’ it any longer, sir.? ¢ How did you et herel" asked bis Honor. & Well, I beat my way oo the cars. I was frieuds with nioet of tbe conductors, aud soine- thines 1 Kul & vide [0 tho caboosa and sousetimes outside, “Flie Juda sent the 1ad 10 the ‘care ol tbe Commlssloners of Charitics and Correction, sud the prison-keeper, Mr. Melermott, gave bl w woad, bot breakfast, aud, judging by theway be ute, ho had not gol & **equaramest M {u three suouthis. ‘F'o a reporter be sald that howas burn fo Wolf Bpriogs, Ala., avd bas been lo Calitor- nfa jockeyin tor ive vears past. Last yesr be roda several races aud woa one of two. He rode Muodoe Culef, Molly McCarthy, l-'xyln1 Yaok, aud otber Lorses. “His uncles are well-off, ho says, aud Leep fast horses. Ho sald bat for the - eold weathior be would * beat ** bis way back 1o Califurula, as be tbluks New York s wsh place he was ever 1 = yertibility of two differeat forms of frredecru- ble v-gu. aud the schewes of y currency * Lased on the public futh™ sud sccured by tall the resourccs of the nattun® in geueral, but upon Do pariicules part of thew, We shall sttil hear ectoes of the old confllct, such a4 *ibic Larbarism snd cowardice of gold and silver,’”? and the virtues of * tat mone{." but thetbeories which gave tham birtls whl lioger swoug us lke belated ghosts, sud soon fud rest Iu the political gravo of desd 4