Chicago Daily Tribune Newspaper, November 28, 1880, Page 7

THE CHICAGO TRIBUNE: SUNDAY, NOVEMBER 28, 1980—Ef@HTEEN PAGES — THE CURRENCY. speech of Controller Knox Before’ the Boston Merchants’ — , Association. ed History of the National-Banking System and ‘Incidental =~ Legislation. ~ How the State Banks Fought the Matter to the Bitter End. a a 4 Remarkable Success Attending. the ‘Sys- tera for Seventeon Years. A dafe and Uniform Currency Establiskéa * Throughont the Country. special Dispatch to The Chicago Tribune, Boston, Nov. 27.—The speech of the Hon. John J. Knox, Controller of the Currency, before the Mervhants’ Association this even- tne was of more than usual interest to the mercantile community, and was attentively listened to and frequently applauded by the 0 guests at the dinner. Mr. Knox was not the only guest. ‘There were twenty-six Presidents of National banks in Boston, M. p. Kenard, Assistant United States Treasur- er, Collector Beard, the Bank Commissioners of Massachusetts, and a-number of promi- gent moneyed men. The dinner was, as sual, an elegant affair. John A. Ordway, President of the Assuciation, was in the chair, and briefly introduced. Mz. Knox, and afterwards a number of other speakers, among them the Hon. Georre C. Richarason, Charles &. Halt, Collector Beard, aud others, allof whom indorsed the views advocated py the Coniroller, Mtr. Knox spoke substan- dally as follow: ee BRETCH OF THE NATIONAL BANEING SYSTESL . The original, National-bank act of Feb. 25. sea did not pass Congress witloutencounter- ing great opposition. Secrétary Chase first suz- gested he Prepuravion of the bill, and it was jurgely through bis utiuence that it finally be- camea law. He recommended its passage in isreport to Congress In December, 1861, and priefly but cleurly stated the outlines of the sys- tem. He favored the graduai issue of Nadional- dunk notes’ to replace Ube existing State-bunk currency, in preference even to tho {ssue of de- mand notes of the Government payable in coin. ‘The National-bauk act was prepared in rccord- ance with hix views, chietly by Samuct Hooper, of setts, und Spaulding, of New York, who were ‘members off the Commit- tee of Wars and Means, and during the month of December, 1861, it was printed for the vse of that Committee. The bilt encountered most earnest opposition In the Committee, which was busily engaged ou the’ Loan ‘and Loternal- Revenue bills und other important work of the _ session, and it was finally suid aside by the Gom- mittee.’ In his report. for. 1602, Secretary Chase again, notwithstanding the suspeusion of specie- payments which bad taken place, carnéstly ad- yocated the mensure. He presented in 2 mas- terly manner and at considerabie length the argunients tor and against the system, and urgeatly renewed his previous recommondation for ite passage. He suid, ainong the advantages which would urise from its passage would be, “that tho United States bonds would be re- quired for banking purposes, a steady market would be established, und their negotiation greatly facilitated; a uniformity of price for the WOULD BE MAINTAINED atgrate above funds of equal credit, but not available to banking associations. It is noteasy ‘wappreciate the full benefits of such conditions to a Government obliged to.berrow.’: ft: will “reconcile a8 far as practicable the interesty of existing institutions with those. of the whole people,”-and will supply “2 firm anchorage to ‘the union of the States.” The bill is said to bave had the sanction of every member of the Ad- ministration, and President Lincoln earnestly advocated its passage in his annuel message in 38, and in 1863 he said: “The enactment by Congress of a National banking luw has proved avaiuable support of the publiceredit, and the general legislation In relation 10 lonnus bes fully answered the expectations of its favorers. Some amendments muy be required to perfect existing inws, but no change io their principles or general scope is believed to be needed.” Again, in 168i, be favored the taxation of the issues of State banks and the substituyon of ‘National-bank notes therefor... Z About fourteen months ‘thereafter the same bill, which bad _been- printed for the use of the Committee of Wave and Means, was introduced fn the Senate by Senator Sherman, and referred tothe Finance Committee, from ‘which it.was reported by him on Feb, %, 1863, with amend- ments. Ten days later it passed that body by a vote of $3 to #1, and on the 24thof the samo month it also passed the Hoose of Représenta- tives by a vote of 78 to G4.- A majority of the Finance Committee of the Senate was opposed tothe bill, The eminent Senator, Collamer, of ‘Vermont, a cay OPPOSED IT WITH GREAT EARNESTNESY, and one of the moat hos rable jel, .and popular Senators from the West-told me that he ‘wus opposed to the bill, but was persuaded by tary Chase to yute in committee in favor of its report. “If it should turn out ‘to be a good measure,” he said, **4¢ will be well; if.not, y vote will'stand recorded against it on-its passage.” Senator Collamer, in his speech in the Senate (Feb. 14, 1863), sald: '* It will be found that the people will not’ break up their Present system of banking, interwoven as it is with all their transactions, bound up as their business life is with it, to establish banks under this bill, and the; will never buy United States stocks for this purpose.” One of bis reasons for Opposing the Ullt was that the schools of some the New England States were supported’ by the tax-fund collected from the existing State Danks. Senator Harris, of New York,’ who aft- erwards voted for the bill, proposed an _amend- ment Feb, 9, 1863, authorizing State banks to re- ceive circulation under State charters, and sald: “The banks in the State of New York can, I believe, be induced, without surrendering their charters as Stute bunking associations. to take out circulation under the provisions of this bill, but I do not ‘suppose that &. single banking institution in the Stateof New York would ever be induced to surrender the privileges it derives under the te luw and become an association organized ‘Under the provisions of thisact.” Senator Sher- man managed the bili in the Senate with his Usual well-known ability and tact. On Feb. 10 de summed up the whole question when he said, Webave but four expedicnts from which to choose: First, to repeal the Spb-Treasury act anduse the paper of jocal banks 2s currenc: iy, to increase the issue largely of United States noves; thirdly, to organize a system of Xatfonal banks; and, fourthiy, tu sell the bonds of the United States in open market.” Among those who voted in its favor on its tinal paseaga in the Senate, were Chandler and Haward -of Michigan, Sherman and Wade of Ohiu, Wilmot of Pennsylvania, with Morrill of Saiue, and six other New Engiand Senators, among whom were den, and also Sumner and Wilson, par in, i THREE SENATORS ONLY from the Middle States voted in its favor (Har 38, Ten Eyck, and Wilmot). The two Senators from Vermont (Collamer and Foot) voted against and one from onnecticut (Dixon), andsevea om the Middle States, among whom wore ¥ Wan of Pennsylvania and King of. New ‘ark, In the passuge of the act in the House ome of the most eminent of the Representatives mNew England and New York, now dis- ished members of the Senate, voted ugainst &. The bill was thoroughly revised, ‘discussed, and repassed a little more than one year after Fete une 3 1864), ail of the Senators from ew England then voting in its favor, including amerand Fout, from Vermont, ‘and all of the Senators from the Middle States who were Ereent. execpt the Senators from Pennsylvania ale ware. Tt received the support and rote wot many Senators from the West, among ana eere Sherman, Hamsey, Lane (of Indi~ ), Doolittle, and Trumbull, the latter having lously voted against it. dX? following is tho vote in the Senate at each ; FEB. 13, 1863. ge@teAnthons, Arnold, Chandler, Clark, Doo- le, Fessenden, Foster, iarding, Harlan, Har- Howard, Howe, lane uf Kansas, Morrill, Ne- falta, Pomeroy, Sherman, Summer, Ten Eyck, > Wade, Witki v1 i; & chuse! Pilea Wilmot, and Wilson of Slassu- usett pAae—Cariiste, Collamer, Cowan, Davis, Dixon, ‘oot, Grimes. Henderson, Hicks, Kennedy, King, Gate iebougl, Powell, Blow steno, usury, Trumbul cre Te ‘urpie, Wall, ani a — MAY 10, 1861. catt#—Anthony, Chandler, Clark, Collamer, Fauterse. Dixon, Doolitue, Fessenden, soot, Tomer. Hale, Harlan, Howard, Howe, Johnson, 2 of Indiana, Laue of Kunsas, Morgan, Mor- net nemeroy, Ramsey, rague pt Ten Eyck, ‘Trumbull. Van Winkle, Wilkin- a Willey. and Wilzon—W. gogv—Buckulew, Cowan. Davis, Grimes, Hen- bunt®,Powell, Kichardson, Riddle, and Sauls- afer’ Brown, Carlisle, Harding, Harris, Hen- herman, ¥ er ees McDougal, Nesmith, Wade, and, {ithe House it received the votes zencrally and Nee’ publican members from New Eaglund Morn”, ¢ ork. including such names as Blaine. Maca’ ot Vermont. Dawes and Boutwell of domechusetts. Stevens of Pennsylvania, Win- of Alinnesota, Allison of fowa, and lust, but lett th lev the vote of a young man who had just pon Me ey, with an excellent record to enter duties ac a Representative,— JAMES A. GARFIELD. * ‘Tein plensure to be able to gay that from this 4 ble} must be the devil | culation: the exchan Gate forward the President-elect hns been & tanh, felend of the National-baniiug system, ing during one session of Congress Cuairmad of the Banking und Currency Committee. it was NOt surprising that the bill should en- counter opposition from Senators und Repre- sentatives from New *England “and New York. The State of Massachusetts hud a model bank- ing law, with the exception that it did not re- quire the elroujation to be secured. It required. a reserve to be held; it requirod. frequent ex- aminations by Bunk Commissioners; aad your excellent Sufolk system enforoedt the prompt: redemption of all New England notes in Folin tn Huston.” Many unsound banks were organized in other parts of New England, but the curreucy of these banks Was almost certain not to be cit guiattd. at home. but in the Fur West. New York had also its excellent trea-bauking system, which required United States and its own State bonds tobe deposited as security-for elrculating notes, and the bunks of that State looked with great disfavor upen any system which sbould reaulre examinations, reserves, or other im- portant restrictions looking beyond the safety and prompt redemption of the circulating notes. ‘The National-bank system bas now been in operation NEARLY KIGHTEEN YEARS, The pot pas two years before the surrender ofGen. Loe's army at Appomattox Court-House, and has since been in continuous operation for sixteen years, includiug u period which, to quote a distuncuished statesman, “we bave bad u Babel of contlictlag theories upon tivanctal questions. Every exploded financiz! dogma of the last 200 years bas been revived and advo- cated. Congress and political purties have been agituted und convulsed by the discussion of vid and new schemes toescabe from the control of the universal laws of value, and-to reaeb pros- verity and wealth without trending the time- Worn path of honest Industry and solid values.” An this connection the writer recalls an evening at Mr. Chuse'’s own residence, when the bank and curreney questions were’ informally dis- cussed. In the course of the couversation Mr. Chuse asked for 4 dotinition of motion, when some one answered, “Matter is inert; spirit alone can move; therefore, mution is the spirit ofGod made manifest in matter.” To which the Seeretgry replied: “Jf that is a good dell- nition, then legai-tender nates [unconverti made manitest in papor; Tor no iuan can foresee what mischief they may do when they nave let 1oose."* More than ir before the passage of the National-Bauk act (Deceinber, 1551), in the re- port already referred to, Sccretury Chase said: “Tn this plin the people, in- their ordinary business, would find the advantuges of uuifurmi- ty in curren f uniformity in security; of ef- fectual sufexunrd, if effectual safeguard is pos- sible, aguinst depreciation; und. of protection irom loxses in discouats und exchanges, While in the pusra dons of the Government the people would find the further advuntage of a large de- mand for Governinent securities, of increased facilities for obtaining the loans required by the War, and of some alleviution of the burdens on induytry through a diminution in the rate of in- terest or a participation in the profft of circula- Uon,, without risking the perils of a great money monopoly. A further and important advantage to the people may be reasonably expected in the increased security of the Union, springing frum the common iuterest in its preservation, created by the distribution of its stocks to associations throughout the country as the basis of their cir- culation,” 4 Aud, again, in 1862, he said: “It seems dificult to conceive of a note cireu- ation which will combine higher local and gen- eral credit than this. After a few years no other circulation would be used, nor could the issues of the National circulation be eusily increased beyond the lezitimate demands of business. ‘The issue of United States notes, if exclusive, is hazardous and temporary. The security by National bonds of similar notes furnished toba nking associations is comparatively safe and permanent, and with this use may be cunuected for the present, and ovcasionally, a3 circum- ‘stances.muy require, hereafter the use of the ordinary United States notesin limited amouuts, -.- «If temporarily these associations un their issues with United Stutes notes. resump- tion of specie-payinents will not thereby he de- jayed or endangered, but hastened and secured; for, just as soon as-victory shall restore peace, the ample revcnue already secured by wise leg- igiation will enable the Government, through advantageous purchases of specie, to replace at once large amounts, and at no distant day tho whole of this circulation by coin, without detri- ment to any interest, but, on the contrary, with at und manifest benetit to all intervsts. The secretary recommends, therefore, no mure paper-inoney schemes; but, on the contrary, a series of measures looking to a safe and grad-: ual return to gold and silver as the only per- manent basis, standard, and measure of values recognized by tho Constitution." These anticipations have, with a single ex- ception, ALL BEEN REALIZED. ‘The National. banks have continually held near- ly one-tfth of the bonds of the United States, thus enhancing their value and the credit of the Guveroment; 60 that, when recently they were returned to us in large amounts from abroad, they wore taken ut home without depre- ciation, The-bahks have also furnished o cur- Treacy both safe and uniform. The whole cir culation of the country, both paper and coin, bears the impress of the Nation, and both alike are of equal value. But the paper circulauion of the country does not yet consist of National- bank notes only. ‘The banks recelye but a small profit upon cir- s of the people, amount- ‘ng to 4.000 millionsof dollars annually, aremade at minimum point, and almost without any cost; the rates of interest hnvc been largely re- duced; the losses by failures to the depositors have inthe aggregate been but a trifle in com- parison with those OF previous banking sys- tems; the losses of ie banks themselves, through unfortunate loans and investments, amounting to 100 millions, have been promptly liquidated, ‘andthe present large surplus, tho | Spe posts of good business management, isa sufety-fund against future disusters. The present unbounded prosperity of the country and its unprecedented productions prevent for atime the proper action In reference .to the weak points of ourcurrency system; but there is_ no good reason why the only remaining pre- di¢tion of Secretary Conse may not be fullilied, —numely, that the Jegul-tender notes will be rapidly ‘withdrawn, “and no other circulation used * but convertible bank-notes and coin of a true standard. The most gratifying exhibit in the above statement is the fact that the National banks arenow doing busivess upon a specie basis and with o true standard. For the thrice years pre- ceding the resumption of specie-payments the Average amount of coin held by the banks was but $26,303,009, and all Sena of this amount has been held by the of New York, The amount of corn held has, of course, at times LARGELY. EXCEEDED THIS AVERAGE, ag on Jan. 20,1877, when it was more than 49 millions, But this amount was soon reduced, and on the following April it had fallen to 27 millions, the previous increase having been due chicfly, not to deposits of dcealors or payments on loans, but to disbursements of interest by the Government. At other times the banks have held much less than the average amount stated. For instance, on Oct. 1, 1&5, they held but $8,050,208, which tho banks in the City of New York beld but $4,955,624. and on lay J of the same yoar thoy held but $10,670,361 of which the banks in- the City of New York held $6,633,225. This was at the time when both the paper issues of the Government and the cir- culntion of the banks were at their highest amounts, the former being 428 millions and the latter 354 millions, in all, 782 millions, while the rtion of coin to their circuiation then held propo by the banks was only about 3 per cent. ‘The Controller, in his last re urgently recommendeti~ that allthe Nationa! bunksshould take advantago of the present intiux of gold to accumulate in their vaults an amount equal to the total cash required by law,” and ex- preseed the hope “that the reports of anothor ear might show thom to be possessed of nt least U0 millions in gold coin.” On June lof the pres- ent yenr the banks reported 99 millions ot specie, and on Oct. more than 109 millions of cojn (in- cluding nearly six and one-balf of silver), which more than equals one-third of the total circula- tion of the banks in operation. The amount of gold ‘coin now held s but 25 millions less than the whole cash réserve required, and would un- doubtedly have been still greater except for the high rates charged for the transportation of gold coin, which are greatly disproportioned to the cost of moving paper currency, and which, it is to be hoped, will, by some means, be largely re- duced. MUCH NEWSPAPER CRITICISM has appeared in the meantime, compinining of the comparatively smail amount of ltegal-tender silver dollars held by the banks, and some of the banks have themselves encouraged this criticism. The arguments used tn favor of the accumulation of silver under existing laws are unsound in principle and avatnst all experienc: Noone prefers to put away for future use a product which will spoil by lapse of time, or which will deteriorate in value. The dunks, if well managed, will transact business upon the snine general principle as an individual of su- erior judgment would conduct his own affairs, Bolding in reserve that coin which is known to be of uniform value everywhere in preference to that which, by the operation of the inws of trade or business, will be likely to become of less value. The law compels the citizen and the corporation to receive ail legui-tender money in payment of debts; but it does not, and ought Hat to require any one to receive on deposit that which wil! not as readily be RECEIVED IN TURN BY THE DEPOSITOR. The Bank of France on Jan, 1, 1877, as will be geen in asubsequent table in this report, held 30d milhons of dollars of fold and aN malltions ilver, or 71 per cent of gold an er cen of sliver: ‘On Nov. 4, 1890, it held 183 355,000 of gold and $85.21,00 of silver, or 24 per cent of the former and 6 6 per cent of the Inter, having lost in’ the in- tervall@ millions of gold and gained £39 mill- ions of silver, and very nearly reversing the percentage of each. Since Sept. 23 last, while its circulution was 475 million dollars, and its deposits 115 millions, 000.of tt Wits imue’it" nas id. “During a partof this time aS, - Geavored to check tb demand for export by various expedients, wNaout raising the rate of discount, Gold was offered by the bank in pieces of 10 francs. in coins not of full weight, and other restrictive measures were adopted. Gradually the inutility of these expedients be- came obvious. ‘The drain of yoldstillcontinued, The hank then proceeded to employ the only eftt- eacious method of protecsing the reserve, and raised the rate Of discount. At the same time it removed alt restrictions on the issue of co in. "This wiso had a good effect. . . - Confidence ‘THE YOICE OF THE PEOPLE. ks in the City - infact was restored by following the ordinary rules of business. Frauce is {ust traveling the road opon for all nations who try to muintain a double standard where the futrinsic value of gold and sliver coin ure widely at variance. Sooner or later the time will come when the creditors of the bank will PREFER PAYMENT LN TRE DEARER METAL, and the refusnl to pay tho kind of coin asked tor by the creditor who has the option will bring: down the cheaper coin to its value in the mur- keta of the world, Then the bank. must replen- ish its store by sclling its bonds under disadvan- tayeous circumstances or remain permunently upon the silver basis. Tho United States is at the present timo in a similar sitnation to the Bank of France, except ‘that its Habilities ure less and ‘eof gold somewhit greater. Oa Sept. 1, 1877, tae Treus~ ury held ly wltions (§107.980,528 of gold and nearly seven and one-balt millions of silver ($7,425,450 or 234% per cent of the former and 64 » pur centol the latter. Ou Nov. 1, 1850, it olds: in ail 140 inillions of gold ($14d,725.450) and 77 millions of silver ($77,757,310), or 04 per cont of gold and 3s per cent of silver. ery thing 13 favorable at the present time, but the operation of laws now tn force" will continud to reduce the gold sad increase the silver. Any. future Sec- retary of the Treasury (youall know thore is no danger while the prosent Secretary remains at the helm), by trymg to force silver upon the bolder of bonds matured, or in payment of legal-render notes, thereby assuming thatthe silver doilur is not Ge equal of. tho, gold dollar, und, by tuking the option away trom the hoider of the note, muy any day bring the Netion upon tho silver standard. which will at once advance the price of ull pronucts and pluce gold at such a premium that an investinent in it at pre would be nt least twice as profituble agin United States bonds, Such # situation is not satisfactory to uny fatelligent busimess-mau, and no. effort should be spared to enlighten the peopte upon the silver question and to etfect the repenl of the present law. The banks as x class have no prej- udice against silver coin other Than that ovcn- sioned by fts inconvenience, 1f Congress shall, by wise’ legi: jou, forbid the issue of siwall notes, und re 1 the silver: issues within Judi- cious limits, the standard siiver dollar will do good service, and soon xecumulate in’ bank ¥aults and tind {ts way Into general circulution. If not, it ts wisdom on tho part of bank oflicers, who act for the interest of their stockholders, to keep their reserves and ull thelr ready means a8 nearly as possible in old coin. “Whe Constitutiénal Amendments, To the Editor of ‘The Chicago Tribune Cricaco, Nov. 2%.—Tnn, Tribcne of last Wednesday contained a communication from Joliet, signed A. O. Marshall, in reference to the effect of the adoption of the constitutional amendment. Mr. Marshall bus arrived at the conclusion that the amendment does not change the time of tho. next eieGtion of County Clerks and Treasurers, which mugt take pluce in 188]. He also cites the article in the Constitution (Sec. 28, Art. 3) which declares “that o0 luw shill be passed which shall opernte to extend the term of any public uilicer after bis election or ap- pointment.” Now, if the new amendment has been adopted, the former Art. Vof See. 5 hay beeu wiped outand replacod by the amendment: which becomes part and parcel of the Constitution the moment its adoption is declured by thd proper authori How cuuld a legal elvcuon for County Clerk und Treasurer be held in Iss] under an act which bus been amended by the the people and re- pluced by another law? ‘Tho abuve-quoted pro- vision of the Constitution (dec. 28, Art. 3) “that no luw shall be passed which shall operate to ex- tend the term,” etc., ean ouly apply to statutory Jaws, and not toa change ia the Constitution, for which change that instrument makes pro- visions which were carried out by submitting tho amendment to the popular vote. > PB. Can a Ballway Official Murder with Ampunity? To the Editor of The Chicago Tribune, Crrcago, Nov. 27.—I am employed at Pull- man, and have been there since the works com- menced. I wish to draw the influence of your valuable paper to uppose a fatal circumstance that oc- currod on Saturday night, the 16th of the pres- ent month. I have since wutched the pross of the city, but could sce nothing referring to it, except a brief account of 2 Coroner's inquest thut took place on the following Monday morn- ing, and nppears to have decided without know- ing anythlog of the cause. ~ Saturday it commenced to rain early in the day, and @ large number of workmen were Inid off.’ They went for shelter to Kensington abuut noon, aud bad nb way of reaching their homes until the workmen's train tuok them away about 6:15 p.m. Amoug the many was tho poor, un- fortunate Mr. Cooper. He got into the cur I rode ou, and J notived that be soon appeared to slumber, from what I thought might be the heut of the stove, or perhups the effects of liguor. The lutter surmise of mine does not alter the case from what I consider man- slaughter or murder on the part of the con- ductur. je reached Grand Crossing about 6:0), and Cooper still slept. The conductor awoke hin forhis ticket. He told him be bad no ticket. The conductor then said, * Pay your fare.” Mr. Cooper replied, “I have’ noznoney.” The con- ductor, * You must get off. ‘There were two men sitting opposit, and when they found the official so brutul they remon- strated, but it was of no avail, The conductor took Cooper to thé plitform und handed bin to two ruttians, who put hiin otf while the train was atitlin motion. I tried tu sce if he fell, as tho fellows laughed. I still think he did, ana that was What caused their merriment. However, two or three bours after Cooper’s mutilated body was found on the track. The night wus very dark. and if our train didn't kill htm an- other passing train would soon reach him. Doubtless the oficial may have done what he considered bis duty, but surely ut such # place, and under such circumstances, such x duty would be better inthe breach than in tho ob- ry servance. Humanity will soon sink in our midst i’ men in a little power, under every litte circumstance, force the grent evil when the less evil would do no one any harm. Mr. Couper was wealthy at one time, and has very respectable connections. I was never per sonally xoquainted with him, but knew of bim for tho past ten or twelve years. * 1@ train was te Illinois Central. sanve no ill feeling: agutust tne conductor. Be is quite a stranger tome, My sole object in penning this is, that if you publish it, it might prevent similar inhumaa occurrences. The Noom of Chivairy. To the Editor of The Chicago Tribune, CuicaGo, Nov. 27.—"Thus the whirligig of tims brings round its revenges.” If the Rurd of Avon visioned forth the modern bicycle, his prophetic soul mude a most, palpable bit. An interesting question is coming upon us; and al- though it is not, strictly speating, a new one, it is assuming an importance which is new. The Dicyele is becoming a frequent sight on the city streets. Healthy men, whose countenances and bearing would indicate also a sound niind, glide by, elevated above the heads of other mortals, motionless, except as to a slight palpitation of the feet and undulation of the legs, but silently expressing the very spirit of motion as com- pured with stationary objects, and even such moderately mobile objects as the wayside pe- destrian. . ‘The bicycle is assuming & prominent place among those divers means of locomotion which render the word “ go" especially. expressive in the mouth of the restless American. This idea of rapid self-locomotion, which struggled for expression in the fabled Centaur, end in the my@aical Mercury, with winged heels, at length iinds practical form and substancein the mod- ern bieycle, and adds to the faculties of man whut those fuscinuting dreams could not do for the plodding wayfarer. On a good rondway the bicycle rider accomplishes 100 miles in a day, and with less futijgue than the walking of twen- ty-five niles in the same time would cntail; of, he easily does his ten miles in an hour, and with no more than the usual effect of moderate ex- ercise. These results are indeed worth baving; as a natural cousequence, this stranger ve- hicle is forcing its acquaintance upon us, and coming, gradually but surely, into common use. Although, in the first place, it custs as much u3 at pa Ronse the running expenses are practi- cally nil. ‘To the looker-on, {t sometimes seems as if this rapid trahsit were purchased at too great an ex- pense of physical energy and overstraining of the attention; but trom the rider's side of the matter, the question of real valuo and utility seoms to cali outno dissenting voices; at lenat, he who has once become a rider rarely if ever gives up the practice so long as his moral cour- age suflives to faco u frowning world, ‘From the point of view of that still somewhat numerous and respectable partes the communi- ty which dves not ride bicycies, complaints against this latest outrage on the rights of our duddies ure by nv means uncommon, und it is to the latter class we speak. The complaints so far entered beur, for the most part, a striking fam- diy likeness to tnose made in the already dim past against such innovations as, for instance, the railroad,—and even the first brave nan who carried un umbrella on the King's highway was made a martyr of in thé interests of horsetiesb. Even in these liberal days we would not speak too leniently of the umbrelia fiend: but it must be admitted that the umbrella bas survived the ban of conservatism, uad, as for railronds, they go almost where they will. The chief objection encountered by the umbrella, the railway, and other siinilar shucks to the equanimity of our highly respectable but short-sighted ancestors was the frightening of horses. But equine nat- ure soems to have improved fully as fast as buman nature, and- horses are learning to look with philosuphical — composure on sights which would have astonished Bucepbalus—perhaps annoyed bim beyond en- durance. We are sorry to say that there are some horses that make no effort to conceal ho fact that they are -nutural fools,” dammed and sired such, and thercfore incnrable. They take fright at many objects ahich could not reasonably be expected to have that effect on them.- A bit of Baper in the street, a shaw! blown by the wind, the swinging of a dvor,a pile of bricks by the wayside, even the everyday rattle of the melodious luinber-wagono, have sbaken many a traveler's faith in ‘horse sense. Some of these: assés of horses will go to the length of seeking out opportunities for terror |. masted and taken refuge at 7 with a delicacy of solicitudo. and ‘ehrewdnoss of perception: worthicr of a worthier cause. It is Dot an ocuusion for surprise, then, thut there are horses which sce in the bicycly an opportunity uot to be neglected. But the question arises, Shall this imeans uf locomotion, forvigo its rights ‘on the road because cértultl Dersgqus Uesire to drive horses which aredungeddusly timid? ‘Tho horse-frightentng objection ithe caso of tho railroad, has been Yeasonubly well over come, und no one now thinks of ob- cin to railroads on” that accoun and it Is quite possible that sthe new contr Vergy of horse veraus Dicycle way be amicably settled by tho operation of the law of expe- diency. Tbe bieyéle bus provee'to be the switt- ewt means Of seif-locomowen yet xcquired by minn, except skang. and the latter only holds ity own us ayainst the bicyalb for modernte dts- tances, besides Diving xt fartoo Hmited tield of application to bekerivusiy Faken ihto account; the bleyele is, moreover, used tO. advantage on aif rods that are suituple for driving a cartinge, ‘ag only & very uneven’ OF. Soft surface is fin practicable for it; it euables mun to attain, jnaided, the speed of the: horse: its utility is 90 Jongur w matter of cout. 2nd é€ 1s proving to i something more than a ‘peans of amusement, it will be found ere long fo claim and Milt a pluce in popttlar use which chnnot be denied it. ite use ja Engluad, Frauce, dod other countries Has already becowe. 60 common ag to render ‘its rights on: tho road an adumitted fret: and al- though it Bad a bard battle for'éxistence in En- Jand,—that laud of prejudicespand set ways,— thus won the respect of thé authorities and the public. Hundreds of thousands are in dally use {n that country and ther adjvining countries of the Continent, und its very genoral adoption nny be looked for in tha. sat ‘A dread akin to superstition Reems to be. pre: duced in some porsons by, the silence which characterizes the movement$"df the blevéle, a dread probably founded fm the taét that the qnouns of travel to which we'are thoroughly ai oustomed ure accompanied ty more or less clut- ter and rumble: this stfllucsd {s, howbver, viewed ag a positive advantage by the riders themselves, and it is said to be tess startling to horses, at least, than noiso would be: and, doubtless, what- ever noise may bo nevessary for purpuses of safoty to pedestrians can rendily be supplied. ‘The age of chivalry is evideptly on its last legs. Horsofesh is giving pluce to machinery onevery band. Gradually but-surely the day sucing to be upproacht when gaan und bis mer- chaudise shall be moved over pe earth by amore controllable, reliable, cleznly, and econo ical, and safer thun the barn beast of the fleld. In that huppy day the forse will still be good to eat, but he will not ‘be suffered tu'fout tho thoroughfares, terrify” timid, and'take up more room than the/load he unwillingly transports, not to mention the coarsening of tho munners of our culture-tending race with horsey intluences. he: prophet EzeRicl gazed down thp avenues f Une with no cloudy vision, --" For the spirit of the living creaturo is in the whoels.’ Broz, ——_—— _ CANADA. Attempted Sulelde in Prison—Recent Sbhipwrecks—The Horse Tradc—Secre- tary Evarts and the Dominion Wreck- ing Regulations—’ Weather-Proph- ecy—Provinco of Quebec Colonization Company — Montreal’s Grain«Ship= ments—The Exodus to the States. ‘Special Dispatch to The Chieago Tribune. Monrreat, Nov. 2%.—The St. Vincent de Paul Penitentiary here has Jn it a number of defaulters of good families undergoing terms of from two to seven years. Among them are Jean S, Paquatte, ex-Cashler of the Hochelaga Bank, and Alexis Tourville, ex- bookkeeper to a merchant. : Their terms ex- pire soon, As the time for Paquatte’s release approached he became moody; and at Inst refused tofouch food. He persisted in his refusal for several days. Yesterday morn- ing, under the influence of threats that nour- ishment would be forced into him by violence, he began to eat again, Yesterday Payuatte heard feeble moans proceeding from Tour- yille’s cell, which adjoins his, He called one of the guardians, who found Tourville lying in a pool of -blood, his: throat horribly gashed. He had tried to’kill himself by means of broken glass fromasmal! mirror he had been pemnitted to’ bave in his cell. Physicians were summoned and the wounds were sawed up, but his recovery is very doubtful. Itis Wought that he dreaded tite idea of living to meet his friends again, par- . ticularly the lady to whom, he had been en- gagod. i The ship Moselle, from this port for Bre- men With 29,300 bushels of rye, has been dis- remen, Capo Breton. One member of the crew was frozen to death, and the athers seriously in- Jured by frost-bites, et ‘The leading hotels in this olty refused ac- couimodation to the coloreq- jubilee singers. The Windsor took them in, There will be $1,000,000-@igbursed in divi- dends by the banks herg next week. Since the stamping out ofthe epizodtte the horse trade: between herp and the United otates has been revived. venty-three fine animals were purchased during the week at a cost of $0,365, aud shipped across the line. Hauirax, N. S., Noy, 9.—The bark Mo- selle, of Prince Edward Island, frum Mon- treal with a cargo of grain for Hamburg, was dismasted in the gulf Sunday night last. One of thé crew died fran exposure, and four or five others were badly frozen. The bark Oriano, from Quebec for Monte- video, lumber-laden, was toially wrecked in the same gale. a7 The bark Alice, of Quebea for Montevideo with a cargo of lumber, wasroughly handled By the store and had four of her crew badly injured. é Spectal Dispatch to The Chingo Tribune. Touoxto, Novy. 2.—The Yail editorially says: “Mr. Evarts is out.apon our wrec! ing regulations again, and uses some very polnted language to Sir Edward Thorntou. Uis whole argument, however, is based upon a misconception, LHe assumits that our rexu- lations prohibit American tugs from entering Cahadian waters tu save Lfe, wherens the very contrary is the case.’ But, where hu- man life is not at stake, we do prohibit American tugs from wreking in our waters; and the Americans. have, and have had for years, a regulstion prohibiting Canadian tugs from wrecking in American waters. If our course is unjastifiable, as Mr. Evarts contends. we cau plead that his people set us the example.” f ‘he Globe, in an editorial en * The Wreck- ing Regulutions,” says: ‘* Mr. Evarts may as well understand that there isa Canadian side to this controversy. lt is.a fact that the Canadian regulations do nob prevent Amer- dcan tugs entering Canadian Waters in order to assist vessels in distress gad save iife and property while there is a pussibility of pre- venting. their loss, Wha the regula- tions dos prevent {is the employment of Amerfcan tugs in wrecking operations after the vessels have actually gone ashore. This provision damages the American tug- rings, and hence their outcries. ‘The com- | plaint about alleged delay eaused by the necessity of summoning Canatian tugs, and the imputed Inck of power‘Inthe tugs when Tocured,-may be dismissed as moonshine. ment’s wrecking regulations pfevented it, the owners of American vessels wrecked on Canadian shores would send’ past Canadian tugs and hire American tugsto get the ves- sel aflost again. At presantshey eannat do this. Nor does the Ametian Governthent allow Canadian tugs to assist Canadian vessels wrecked in American waters, ‘The adoption of the American system by Canada is sim- ply tit for tat: and, if it happen for once that Atericans suffer more than Canadians from the adoption of this nojsensjcal retal- fatory system, the Americans have them- selves to thank for it.” | ‘The Globe says it is “quite sure the Canadian Government will Not retuse to treat with thé American Gov- ernment for reciprocity in- wrecking; but will yield just as much to Americans as they yield to Canadians, and nojimore. (‘The ad- mission of Canadian wreckers to American waters would be by To meidns so valuable a consideration as would ‘the admission of American wreckers to | Canadian waters; hence . is ‘probable ‘that the Canadian Goyernmen will, de- mand some extra. concession. from, the Americans, just as, in a similar case, with the ratio of benefits reversed, the Americans would be certain to “demand of Canadians. In any event, Cannes wilE not go into extasies: of terror ever though Secretaly Evarts should publish additional ill-man- nered dispatches.” .” f : Mr. Moses Oates, , weather-prophet, an- nounces a prophecy the. fylfillment of whicl: will be of interest to those concerned in the 7,000,000 bushels of wheat iblacked up by the ice in the canals-:‘Phere is to be & break, and all the “boats will be zot out. ‘Moses Oates ig *4f ‘the opinion that the average teniperature ‘for December will be slightly higher that! usual, ayg that for January ‘several dé high A higher average, - however, nay not. der less probable the great cxtranes. and vicissi- tudes predicted, by other aneteorvlogists and astronomers. ' ely Special Dispatch to The Chtedow-Pribune, MontTREAI, Nov. 27.—The Ke . J. Bray, of this city, has been informett|'by cable that Mr. Stockwell, the delezate*fioin the Prov- ince of Quebee Coloniz AOmpany’, has been completely successful ty floating the scheme in Lomlon, with 2: capital of $1,000,000 subscribed. ‘Lorg; Dunmore, an Influential agriculturiét -aud. celebrated breeder of high-class cattle England, is Chairman of the companf,-th rest of the Board belbi aden of prominence in London, Hatt ave been already received from English farmers for 40,000 neres of land on the germs’ proposed bythe company,— that Iss10) :aeres in each farm, with ten acres clenréd, a louse built, and’ the neces- sary frm stock to commence operations on,—thelfrice being $500. All arrangements have feet perfected with the Local Govern- Inenty dfid the amount necessary for the pay- ment of the first “Installment of the pur- Chage-money for 100,000 acres will be received LDY the first mail, at the Chicago Tribune, Nov.-27.—The Port of Mon- t3 fallen far behind in the race with other seaports in the shipment of’ grain for foreign markets, .1y 4873 her shipments amounted to 17,912,572 bushels, and last year to 22,755,445, or again of only 5,000,000 bush- els. New York’s shipments during the’same period rose from 54,278,072 to 124, 350,932 bush- Philadelphin’s, from 4,307,072 to .049,- ae HalHinore s, from 9,049,545 to 55, hels. Montreal’s percent of the whole-frade in 1873 was 198, and Tee year 8.82; and‘itis believed a still lower per- centage will be reported as the result of this Sé€ason’s operations. A strong etfort will be nade during the next session of Parliament to procure the xbolition or reduction of the Wwhartaee and harbor a nes . A dispatch from Philadelphia states that syndicate of American. and European capke talists has been formed to complete the Northern Pacific Radway. The curious thing abont this is, that some of the names mostionet as havin; bart. if the syndicate st ppear as members o: ie syndigte Linh Canada Pacific cial Dispatch to The Chicago Tribune, Orrawa, Nov. 27.—An effort is being made to assemble all the singing people in the Ot- tawa Valley into one grand chorus conven- tion in. Ottawa during the coming winter, for a four days’ musical ‘training under the di- rectlon or SDE: Me o erie, of Boston, n sted by other lea musi from the States und Canada. ae sans A large number of counterfeit $1 Domin- jon notes ure in cireulation, ‘The Hatnilton Spectator is sensible enough to treat the exodus as a serious question? and itcalls upon the Government to take measures fer correcting or verifying the statements Turnished monthly to the Secre- tary of the Treasury gt Washington by offi- cers of the American customs. This is a better way than to charge the American offi- cers with making lying reports to their Gov- ernment. When the Conservatives were in gppasition, they held that the Government of Mr, Mackenzie was blamable for the emigra- tion during the depression ; and the leader of theOpposition, Sir John Macdonald, moved a resolution of censure on the Government for falling-to arrest it. The present Government is now called upon to explain why the emi- gration has doubled, if not trebled, under its. administration, in spite of the new policy, and in the face of three abundant harvests at home and improved markets ubroad. Quenec, Novy, 27.—The schooner Clesetine, inward bound, is reported in the ice. She has been employed in connection with the new gulf const telegraph, and has a number of workmen on board. THE IRISH PROBLEM. It Is a Revolution Now—What the Masnes Demand. Correspondence Boston Journal. For revolution it is! and the sooner the people of Great Britain become convinced of this fact the better it will be forthem. The land system which has pre- vailed in these islands for so long atime has been found. wanting, and has not much Jonger to endure. The people of Ireland have resolved to have the land of their island; every. man wants room for himself and believes he has as_ much right toit ag the air he breathes. Land is power; and the musses want power. ‘That means revulution, Itis of no use to cloak the tacts. For more than a century this struggle for land has been going on in Eu- rope: the many. have been battling against the few, and they have always won. They won in France, although they had to kill, and burn, and commit cruel injustices in sorder to win, ‘They won in Hungary. ‘They won in Prussia. 3Wherever they have set their faces tirmly against the few they have won. There is no denying them. The: will not listen to fine reasons. Land, | which was ‘once got by violence, by conquest and forny, may change hands again’ in the same manner. The laudiord says that the masses have no right totouch his yested rights. They feugh at him. He is like King Canute; they are the tide, ‘Lhe masses will. not be reasonable. They do: notcare if injustice is committed. It will avenge the old injustices, they say. The end justities the means,-they cry, as the Nihilists of Russia do. - Now that they have found courage to speak, they wonder that they were silent so long. They encourage each other; they rejoice In their new found strength. Whe common law’ is powerless beforethem. A nation cannot be bridied with pack-thread. When a whole community says that it will'not admit the force of a law, the Court-House door may-be closed. ‘Then comes the epoch of the drum—the sword, the patrol, the execution, Murtial law must come In where clyil law is dead. And it is dangerous to declare martial law in districts filed with high-spirited people suffering un- der asense of wrong. Aspurk thes upward, —the breeze blows it Into flame,—and you have your revolution, The conservative man pooh-poohs, and says thai the “rioters will be put down.” The careful observer remei- bers that this is the nineteenth century,—the age of demycracy;—and prophesies that they willwin ; “BUDS OF PROMISE.” Tb the Editor of The Chicago Tribune, Touton, IIL, Nov. 26.—Eight years ago Thanksgiving a company of young men in search of fun found near Toulon a “ bee- tree,” and that night held a carnival feast over its contents, in R. H. Price’s harness- shop. As Thanksgiving again came round the boys, with a few additions, assembled and celebrated the event by an oyster-sup- per. From that event has sprung up @ so- ciety in Toulon known as the “Buds of Promise,” whichimeets once ayear—Thanks- giving night—for abanquet. It is composed entirely of unmarried men, who pay $1 a year dues, which” is used in spreading the banquet. The society now numbers 175, and has a regular organization, ‘To this banquet they invite married men only, No unmarried man can be a guest; he must be a “ Bud,” or nothing. No female is allowed within the sacred precincts of the feast, nor even is she allowed to assist in the preeeT aight tho ‘* Buds held their eighth anniversary, in the Capital Qpera-House. Over 300 guests were invited, aril nearly all responded. Kach “Bud” wore a badge, “Buds of Promise, Nov. 25, 1880,” with an illustration of Adonis ‘thereon. ‘The hall, was profusely decorated with flowers, evergreens,. and mottoes,— sonre of the laiter being strikingly sugges- tive, Four tables were ranged the entire Tength of the hall, londed with all the dell- cacles of the season, with tropical fruits, contections, ete. At 7:30 o’clock four young meu entered the hall, bearing a huge roast pig, followed by four others, bearing a large roast of venison. The ‘Toulou Silver Cor- not Band led them, as they marched up and down the hall. between the tables, to the culinary. department. After a season of tonsts. the collation was served by trained “Buds,* who acted as waiters. "{he tables were then cleared, and the floor swept fora grand dance. Dance did 1 say? Well, no—yes, it might pass under the head of dancing. But words are wenk. I cannot describe it. Imagine 300 or 400 men let loose ina hail, with the inspiration of good music, and no fear of female intrusion! ‘There was some noise, some talking, some shouting, and some extraordinary Jig-dancing: but there was nothing offensive, and no intoxi- cated persons, ook this morning the “Buds” sang the Doxology, and adjourned until Thanksgiv- i igsi.'- Guests from Galva, Lafayette, tJersey, and from other neighboring celtics were present. Sherman’s ‘Letter Declining to Sndorse Elther Candidate. HEADQUARTERS ARMY OF THE UNITED STATES, WASHINGTON, D. Ca Aug. 2. 1SL—To the Hom Duizell, Caldwell, O.—DeEAR DALZELL: Your tern! Aug. Is i8 received, and I regret thut iy personal relations to the two eminent candi- antes for President ure such that 1 ain unwiliing: to say or Write anything to intluence a single votecal am sure that whichever is successful will fulfill the requirements of the Constitution, preserve, protect, und defend the Constitution of the Untted aeates and take care that the laws be taitbfully executed. As you:all know 1 buve alwaysencouraged the soldiers tn meet In social feunions oo all suito~ bie occasions to interchange Kindly memories of the War ang to keep alive that loveof the Union and of the whole Sonutry which characterized that part of our history. 1 hope as long as two or more survjye they will continue thus to meet, for since the: inning of time there never was f War on earth, in which men fought for so holy and putrioticYicause as wo did in 1861-1 ‘Trety your frit W, T. SHERMAN. Gen. CASUALTIES. Four Railroad Disasters in the Vicinity of Buffalo Yes- terday, By Which Six Employes of the Sev- eral Roads Met Their Death. Six Lives Lost by the Foundering of a Ship in the Pacific. A Boiler Explosion at Oharlotte, Mich., Results in Three Deaths. CHAPTER OF ACCIDENTS. Bourraio, Nov. 2%.—Four railroad acci- dents occurred in this vicinity to-day, in- volving the probable death of six men. Mor- tis Connell at the round-house boarded an engine to run it into the round-house. At- tempting to reverse it, he found it impossible, as the reverse would not work. The engine crashed into a construction train, killing Frank Kavenagh instantly, and severely in- juring John Cosgrove and James Hillery. While train No. 1 on the Butfalo, New York & Philadelphia Railway was crossing the trestle-this morning, near Hoiland, the two rear cars left the track and went rolling down the embankment about twenty feet, making 2 complete revolution, and falling into the midst of section-hands, some fifteen in number. The fatally injured are Jett Geer of Holland, Joseph Silaway of Protec- tion, and John Loohy of Protection. The seriously injured are Jacob Wolf of Holland, Martin Wickett of St. Mary’s, Pa.; Samuel Loch, conductor, and two others, whose names could not be obtained. ‘The St. Louis Expresson the New York Central & ttudson River Railway, bound east- with thirteen passenger-cars heavily Joaded, met with an accident at the Forks, seven miles from this city. Only three slecp- ers remained on the track. S. Taylor, of Ithaee, and Miss Laura Duell, of Oneida, were both seriously injured. The Company attribute the accident to a broken wheel, but itis rumored that a telegraph operator neg- lected to have a switch set, and failing to do it himself when he saw the train coming ran away, i 4 About half-past 1 this morning: a col- Usion occurred at the croSsing of the Lake Shore & Michigan Southern and Buffalo Creek Railways between an express-train golng west and a switch-train of coal-cars. ‘The Inst coach of the passenger-train—the sleeping-car City off{amilton—was struck in the centre by the coal-dumps, thrown from ts sree, ang badly smashed. No person in- — FOUNDERED. San Dieoo, Nov. 27.—This evening 2 boat’s crew of the ship Johanna Heinrich, from Hamburg for San Francisco, arrived in port. ‘The party is composed of the Captain, P. A. F. Classen, Second Officer Ferdinand Wage, and five seamen. The Captain tells tho fol- lowing story: Tho ship sailedfrom Huin- burg June 6 with a general cargo, consigned. to Henry Balzer & Co., San Franciseo. About the Ist of September, when in the vicinity of Cape Horn, heavy gales were encountered. The ship began leaking, and the men were Sent to the pumps watch and wateh, and man- aged to keep the ship from making any more water, and she kept on her course with a fair prospect of reaching port until Noy. 16, about 20 wiles ont from San Francisco. At this time a heavy gale came up, the ship labored heavily, and the water gained. On the afternoon of the Vth it became evident that further pumping was useless, and it was decided to Ieave the ship, which was steadily sinking. Two boats were lowered, with Capt. Classen, Second Officer Wage, and five men in ome, and First- Officer Elfels, the ‘cook, carpenter,’two sail- ors, and boy in the other. On the evening of the 19th Capt, Classen lost sicht of the Mate’s boat. ‘The Captain thinks the boat and crew lost. Thursday night Henry Warneke, a sailor, died, ‘The party are in good health, ad wll Jeave for San Francisco by the next 8 = BURNED TO DEATH. Special Dispatch to The Chicago Tribune. Laurinsure, N. C., Nov. 27.—Last night this place was the scene of a horrible tragedy, two children being tied in a house and burned alive. Itseems that Mr. George Malloy.a cotton-planter, was away and he left his two small children in the house with their grandparents. The old people went off a distance of half. mile from the house to see after the cotton ‘picking, and before leaving tied the children close to the fire- place, in which a good log-fire was blazing. ‘The old people returned at sunset and saw the house in flames, All that was left of the imprisoned children this morning was a few small bones. ACCIDENTALLY SHOT. - Spectal Dispatch to The Chicago Tribune, Inpianapouis, Ind. Nov. %%.—James Whitesides, son of Richard Whitesides, a well-known farmer of Lawrence Township, was killed yesterday afternoon by the accl- dental discharge of his gun while out hunt- ing. His companion was ensaged in scaring up rabbits, he standing on a log watching for the bunnies. His gun slipped from his hand, and, striking upon the hammer, the load was discharged into his abdomen, causing death in a few hours. Deceased was aged about 20 years. 4 BROKEN RAIL. Prrrspure Pa., Nov. 37.—Intelligence has just been received here of an accident on the Baltimore & Ohio Road at Bauman’s Station last night about 12.0’clock to the Baltimore express No. 3, which left this city at 8:05 p. m. Upon nearing Bauman’s Station, which ig thirty miles west of Cumberland, the train encountered a broken rail, and the engine, with the entire train, wenS/over an embank- ment and Janded upon its side. Fireman Routh was instantly killed, and the engineer, whose name coun! not be learned, was badly sealded. The pagsenzers escaped without injury, though badly shaken up. RUN OVER AND KILLED. Special Dispatch to The Chicago Tribune. Forr Wayne, Ind, Nov. 27.—James Shultz, a tesident of Whitley County, was run over and killed by a passenger-train on the rond-crossing about fifteen niles east of here this evening, He was trying to cross the track ahead of the train, but slipped on the rails and fell. ‘ ae KILLED BY A FALLING TREE. ‘Spectat Dispatch to The Chicago Tribune. Granp Rapips, Mich., Nov. 2%7.—Jacob Kubeiski, of Petosky, was killed by a falling tree at one of John Canfield's lumber-Camps on the Manistee River, twenty miles west of Cadillac, toxtay. He leaves a wife and eight children at Petosky. STRUCK A SNAG. Mespnis, Tenn, Nov. 27.—The small steamer W. J. Postevent, owned by Mem- phis merchants, plying in the Hatchies River trade, struck a snag last evening near Boli- var, Tenn. Shesunkin six feet of water ‘The boat was valued at $9,000; insured for $6,000 in Cincinnati offices. The cargo was valued at $1,000; insured here. FATAL EXPLOSION. Dernorr, Nov. 27.—A boiler exploded in Andrew Moore’s foundry, at Charlotte, in this State, this afternoon, entirely demolish- ing the building, killing outright George Moore, his son, and another man. name w- known, severely scalding and otherwise in- juring four others, one or more of whom may yet dic. SUDDENLY BROKEN UP. Beccial Dispatch to The Catcago Trimm. Caantorrs, N. C., Nov. 27.—Last night a party at the residence of Mrs. Austin, in Sharon Township, came to a startling close. Just as the band struck up, Mr. Johnston, 3 young planter, took his position on the floor to dance the “racket.” Before he could move, he threw his hands to his side, and with a low moan fell to the floor with a stroke cf paralysis. He now lies in a dying condition. : DIED OF HER INJURIES. Special Dispatch to The Chicago Tribune, + Sprineriecp, Il, Nov. 27,—Susan Con- nelly, the young domestic who was horribly burned about ten nights ago while sleeping with a lamp by her bedside. died to-da: LACES, CLOAKS, &c. 4,000 PIECES REAL TORCHON LACKS, Having bought the entire stock of an Importer, consisting of over 4,000 pieces Real Torchon Laces, at 4oc on the dollar, which means 60 per cent less than all dealers in Laces pay for same goods, we will offer the following unapproacha- ble bargains: 500 picces Real Torchon Laces at 10, worth ce 300 pieces Real Torchon Laces at 2%¢, worth ‘Se. ‘ 200 pieces Treat Torchon Laces, good width, Ber worth Ge. 300 pieces Real Torchon Laces at 4,4%,and ‘Se, worth 8, 10, and 12ke. 1s Kteal Lurchon Laces, wide width, at 4,7, 7%, and Se; former price 10, ARK, 14, 13, and 16¢. 1,000 pirecs Torchon Laces, extra quality and wide width, at 10, 124, 14, 15, 16, and ISez worth double. 200 pieces Ectra Fine Torchons at 20, 22, 25, and 30c, worth 35, 40, 50, and 6Oc. WILL OFFER MONDAY AT 10 O°CLOCK, A0 Ladies’ Elegant Fur-Lined Cloaks, The entire stock of « New Yorls Fur Manufae- turer, bought ut a great sacrifice for spot cash, which we will sell at 850.00! Allother dealers hare paid $85 for same goods, This is a goed epportunity to buy AT Satin de Lyon and Silk Armure Cloak. dark: reel Tinings, handsomely trimmed wlth rich or Chinchilla, at less than half its real value. SPECIAL SALE OF L000 Dolmans & Cloaks. This in a cash lot, the balance of a manu, turer's stock bought us a Job. Immense gains. 200 Ladies’ tool Beacer Cloaks, handsome!) trimuied with Passementerie, Velvet, a Fringe, at $4.50, 35, $6, and $7; ser price $5. $9, $10, and $12. 100 Ludirx’ Eleyant All- Wool Beacer Cloaks, handsome trimmings, at $8, $9, $10, Gud $122 worth doubk 100 Ladies’ Imported Cloaks, consisting of Fine Diayonals, Fine All-Wool Beaver, rich trimmings, at $14, $15,'$16, $1 $20, and $22; half requiar price. 100 Ladies’ Doimans, handsomely trimmed wlth Velert, Sitk Eringe, and Passemen- teries, ut $6.50, $7.50, and $Y; worth $12, $14, and $15. 200 Ludics’ Ail-Wool Reaver Dolmans, rich trimmings, at $10; worth $15, 300 Latlies’ Handsome Dolmnans at $12, 313, $18, $15, $16, $13, $20, $22, and LS, prices guaranteed 30 per cent less than Other huuses, or money refunded at any thine if not satisfactory. 800 Ladies’ Ulsters ut $4.50, $4. $5. $5, $7, $8, $10, and $12, immense reductions Troms former prices. - WILL CLOSE OUT ON THE SECOND FLOOR, 300 LOTS OF CLOTHING! From the stocl: of @ New York retail dealer, re~ cently retired from business, which we will sell at HALF PRICE. The stock comprises lines Of Men's and Boys’ Suits, Overcoats, Ulsters, and Pants. Note the Immense Reductions! 500 Ladies’ Rest Bearer Hats at $1.85; all Milliners $3 for same goods. 300 cartops of Headed Hackles at 25, 35, and 45c, forth 65, 75¢, aud $1. 100 Bi dled Collars at $1, E400; Se and $ worth $3, $4. $5, and $6. 800 Ladies* Fur Huts at 48, 75c, $1, $1.25, $1.50, $1.75, $2.25, $2.50, hulf prices asized by Furriers. 25e Tycoon Keps nov yor 1244c. 20e Colored Cashineres for 12450. $1.25 ich Novelty Goods now for 50c. RLS Colured Silk Felvets now for 750. 81.00 46-inch AUl- Woot Hume Clothe now for See 2,000 Remnants of Silk Veleets, Satins, Dress Goods and Mourning Goorls, Cloths, Flan nels, Luces, Ritbons, Gimps, Pringes, and Embroideries at 40° per cent off reyular prices. ta Money refunded at all times if Goods are not satisfactory. BOSTON STORE, 118 & 120 State-st. _.BRUCATIONAL, Prof. Cohn’ s Schooi of Languages Central Yasic Hall, Room 33. French and German on the Natural Method by now tive tenchers. “Day und Evening Sewsions, Send for BRITE O) 1 Leanztiey ing tn Frenet and German (Prot. Suuveur's method); 18 elgeution “end art” For circulars address “HOME SCHOOL, for Boys. Address L. HA’ Geneva Lake, W ~~ BUSIN RDS. WOOD MANTELS WH. H. FOULKE & €0..1 watisit’ay. Fontayne’s ‘‘ Safety Attachment,” ; For Water-Backs in Stoves and Kanges. Kemoves all dancer of explusiun when froren. Price. 62.40. Dis- eount to the trade, Eo WAIING % CO. 2% La Salte-st, RDS. GENUINE GERMA! CANARIES. IKAEMPFER, TF Cina, pres eee eee “HAILNOAD ‘TICKE? gs RR. TICKETS 4 & CO.'S, Ticket Clark-st. (in Genie re). Tickets Bouya, vf Fates Ui) wh} DATS. CHEA Sold. and Exebance: ae moc s OUS. “ooh DR. KEAN, 173 South Clark-st., Chicago. sult personally or by mail, freo of charge. on all aera terns of special disenses. Dr. J. Kean 1s the onty phys.cian In the city who warrants cures o¢ Bo PRIVATE oe, IDR. LUCAS, 1232 south Clark-st. Chartered by the State of Ilinots for the “special, acientitic, and speedy cure” of private, nervous.chrons Jo, and uri iseanes, Consulta: ee. Iai 2 Bim.to 3 und6 Wop. m. sundsys, to tam unly, ruruisbing Reduce