Chicago Daily Tribune Newspaper, May 27, 1881, Page 12

THE CHICAGO TRIBUNE: FRIDAY, MAY 27, 1881—TWELVE PAGES. ‘¢: BIMETALLISM. ‘Letters from Emile de Laveleye in the ' Independance Belge."’, ‘French and German Opinion—Mr. Horton's Questions—Progress of the Conference. Independance Helge, April % 181. Until within a short time past the excellence of tho English monetary Byatem was 1 tlogmn, anarticle of tho econamic creed. Happy tho People why cotld reach tho gold standard; thoy wert tho cect of tho commercial world. M.Cel nuscht hus shown with that clearness of matho- matical evidence whieh ho brings to alt his demoustrations that the system of the exclusive Binylo standard bad worked an injury to England hereelf and to the world, and had been able to a sustain itselt only by deriving support from French bimetallism. Mr. Dana Horton, ono of tho delegates of the United States to tha Moni tary Conference at Paris, In his book “Sliver and Gold,” a work replete with profound insight and Mled with curiaus fucts, hns proved the fol- lowing propositions: Firet—Sugland, by tho substitution In 1816 of the gold for the silver standard, ngyravated the coudiuion of nil debtors and of tho whulo English nation ns taxpayers by unjustly favor- ng creditérs and fund holders. Second—By bringing about this cbange nt n time whon tho production of tho precious met+ alahnd constdorably diminishod, Kngland pre- alpituted throughout the entire world an acute crisis of monetary contraction and of fall in prices, from which ane hcreelf, perhaps, suf+ fered more than the othor nations, Third—Engiand having been the scene of an ‘unparalleled commercliuland Industriat develop- went, thanks to her natural advantages and to her people's wentus for onterprise and Inven- tlon, tho fact of this areat development was for tho most part attributed to her monetary sys- tem. A serious error, as Lord Benconsficld well soit. Fourth—From this orror bns arison tho bellof ‘thot tho gotd standard ought to bo tho monetary system of the most highly civilized peoptes,—n pellet which took shape In tho Monetary Con- gress of 1887, and which decided Germany in 1871 to fotlow the exumple of England, Fifth—Tho Sis which tha German monctary reforms has brought upon Germuny herself, upon the whole world, and chiefly upon En- giqnd, which bad been taken fora motel, prove that the system must bo false and pernicious in priticiplo. For tho wider tho application ofa truc system tho moro its advantages must make thomselves felt. Such would oyidently be tho cuse with fnternational bimetallisin. THE NEED OF STABILITY. To support those thosea it would be suf} ficient fur mo to borrow my argument from Messrs, Cernuschi and Dans orton, But asex- re Seen: shull appeal solely to the testimony of tho En- glish thomecives, and, what fs still more impor- tant, [ shall confine myself to citing only olllciu) documents emanuting from Chambers of Com- morce, from the East Indin Department of FI nance. or from tho Bank of England. 80 long ag French bitmetallism lont a fixed basis to tho English system this latter operated with regularity to tho advantuge of Englund and of her coluntes. Since French biinetaltiser has been suspended tho gold stundurd tinscnused to the Indies and to the commerce and industry of England intolerable embarrassment und *Josses. And fur tho following rousons: The grent commerce of the world is settled by bills of oxchange or drafts, Whon two nitions have for money basis tho samo metal, bo it gold or allver, the rato of exchange cannot vary boyoud the Hmit of tho cost of shipment of coin or bullion, For example, t have to remit from Paris to London £1 sterling, of whielt the par is 25 francs 21a centimes., ‘The expense of ox- orting thin Btn I xuld iy from 8 tu 0 centimes, rin ‘Paris, order to make my paymens i Lendon by menus of a biof exchange Tam obliged to pny for this LI nt the rate of 26 francs 35 centliies, it would be cheaper for me to sen the gold, Cur this would cost mo but35 franes 2143 centhnes in metal, pus? centinies for the shipinent—total, 2 tranes sg continues, The variation In exchange between London and Faris, so lour as Paris bas gold, will thorefore vo bounled betwoen the limitsof 24 fines 1 centiines and 25 francs 31 centlines. Buti in Zope 1 draw vn DI upon a country: Sati either paper money or liver monuy, my bl payable In sil or in paper will rise, and fall, ‘aid iluctunte according to tho variations of the Silver yrof the paper. Lt silver ts subjected to. + violent and untures¢cen oscillations, all sales and Ait ptirebases i trade and conn with silvor countrics are Ilible to tho sume varintions, Theco-quarters of the commerce of England ta swith sllver-uslng countries, und Amounts on ATL average of 50720000 francs. An Kuglsh more obant—Mr. Barelay—has well shown what a Monstrous state of things this fs, Tt needs only a slight excess In the supply or demuane of sliver «in London to emt a varnition in peice of one or two pence, whereby the value of the ye thou- Band millions of bitls of exchinge in allver da- pends upon this insiguitcant speculation In tho motal. ¢ FUNCTIONS OF FRANCE, So long 26 tno French bimetatlism was in action these sudden variations in tho value of eelver wero impossible, ‘The prico of silver could not depart froin the par o} estib- Asbed by tho 15!5, further than the alterges representing tho cost of transporting the silver to Paris and coining Jt there. As matter of cours¢, slnce ut tho Paris Mint the scllur could ee SW) Franes for one kilo of silver nines tenths ine, be would hot part with at for tess. ‘Phils price of sliver ut the Vuris Mint therefore gavorned the rate of exchange iy sliver throurhout the whole world, to tho great benotlt of all countrios, and especially of England and Indin. Since’ the Bint at Paris bis been closed to silver this metal no long basapar. It has become mero merchandise. The grent trausutlantic trado ts pew curried on no longer by ineauns of monoy, Dut by ineuns of an urticte of merchundise, It das failon back inte thy burburots condition of ‘Darter, as the Department of Indian Finances and tho Dircetor of the Bunk of Eugiand, Mr. Gibbs, have so well suid, ‘ho Indian Do- PuFtiment oxpresees Itaclt’ thua: “Tho f of those unusual tuctuations in exchange, thus vitlating nll tha caloula- tions of trade, necessarily cause — ve serious trouble, ‘This fear not only sutticus often to paralyze trade, but those repuated fluc tuations ure the cause of serious nnd unmerited luases to honest merchanta. And, what Is Bull ‘worso, this uncertulnty in the rate of Juterni- donna) exchange introdives un cloment of specu. Jaton which fa disastrous tolegitininte, prudent, and honest foreign busticss.” Mr. Gibbs makes Ue fuer perfectly cleur by un example; A micronant in Calcutta wishes to order in London a cargo of goods; but whut will silver be worth, or, in otber words, what will the biltot bane dn gold cost bln when be will bave to buy tt in Calcutta to puy for bis cargo’ He cannot tell avythlugnhoutic. [tts the unknowable, Jn prese ence of this unuscertalnablo fact be hositutes; gud thus commerce langtishes, and tho diferent industries which would have turnished the cargo aro nut cutied upon to exesute the ordor, Lubor suffers. The eiuployer sues hie profits dlevinishim and tho workman his wagos cut own. 8nys tho Virector of tho Bank of Vugland: “As long as France ucted nan clearing-house between Enylund and Asia she protected us from those cvils; but now that thle clouring- house hus suspended operations, these last years hive shown us tho presence of the Jl, and te dungor of avolng tt augment,” LORD LIVERDOOIA BYSTEIL Here, then, we have the harm wrought by the wold standard as analyzed und deseribed by those who, better thun any one elsu in the world, aro 4n a position to tile note of t—viz.: the Indiun Finauce Depurtwent, the Bank of England, and tho English Chimber of Cominerco, Can we bus Move that Kuglish commerce and the Kagtlsh people will long endure u régime ttke thls when, thoy shall come tu understind the sulferinge which tt hus inthoted mon thom? Before lung they will rise up and will say to tho professors of thosclence at deductive cennan ys “Care ae W ee? dyle and Buskin have calicd you: and false the dismal sclonse, rivbt. tn inl, ratio att exclusl imposing upon 2 aatelri of Lord Liverpool, you vompelled the Engliah people to puy thelr craditurs mn gold, the rare etn the dear metal, instead of in silver, tho mata os Yobilsned, ove might atoust say consecrated, Uy Distory. You bave violuted our right, toknowk odgend by the law of the realing fur our national pound, the pound of our foretulhers, the pound. of Elizavetn and of Newton was a silver pound. The pounds of our tosh, which Bbylock takes frau us, und tie drops uf our swent which we must let fultto help Albis money-buys will go op fhercusing without end unl wo abull be ro- duced tu savory und tulser You let Joos upon the w: tho crisis of 1810- 18) wheu you shut out allver from Kugtand, and bow you bave brought on the crisis of 1s7d—1830 by driving out sllver from Germany, You wie ruling our Lidlun Enplre, whleb fella you soinayoleu loud enough for you to oe eur You are disorguntzing our commerce, and you wre killing our indusiriea, ‘The merehyots of Liverpool. of London, of Glasgow, of Birining- bam, of Sunebestor, uud of alt Lunoushlre pro- whale thls fact ‘ tale 4 ‘ou arc preventing Italy frou muking tho Joan wolch yuu would ylve ber again motallie oirculanon; and you compel ull thos States which ure how unbapplly burdoned with tt to. yotuln their irredeemable currenoy of paper to ‘the great detriinent of our txchangos wht those sonutries, Nagok 4 ‘ou ure proventing Eurupe from. payil Swerica otberwise than by reducing the yuk dcaerveos of ber bunks, ¥ weil coption night bo tuken to these ns bimetallists, [ Y You aro compelling all the nations to protect thelr gol, which a | are endeavoring to retain ngntnst our power of attracting it, by raising their rates of discount, anid, which Is atti more to bo feared, by tariffs which are becoming tnore nnd more protective. You sro thus sowing in every direction tho secda of antagonisin which willln tho future bear fruit to our afsudvaninge, making anernles which may somo day combine against us. The two great Republics, tha United Slates and France, come to offer you the monotary nyst m which eame forth spontaneously fron the demoeratle spirit of the French Revolution, —0 eystem vv ited by history and imposed by nature; aud you, walled in by your egotism, by your prejudices, by faut refusal to discuss and to cxaming, you disdainfully decline tho hand which is offored you In tho interest of har- mony amony the nitions, Such ts tho tangtinge which before tong wilt make ftsclf heurd throughout all Enghwud, and whieh las already found voice in tho mouth of Aan claent man, Mr. Fartday, lu Manchester, It wilt be suiticent for tho Engliah people to read the memoranitum of the Trensury Depart. nent of Indin and tho irrefutable article of Mr. Givbs, Tho lnlyultous, uunatural antl-provl- dontial syatem of Lord Jdverpool will have ite ~ Wo wlll hear ne nore ot tho gold stand- nrd,—of tho “malevolent Utopia.” As for tho Samberger law in Germany, it will not be Prince Mismarck who will glvo it. now leaso of iife, Eaux pr LAVELBYR, ANOTHER LETTER, Independance Icloe, May 2, 1881. Why did the United States come to an under stondlog with Friuico to call tho Monotery Con- ference of 1x31? Wo were surprised ne woll as chugrined at tho auawer which M.do Parion ninde to this question in full session of the French Senate, Tha Amerieaus, said M. de Parton, sell silver as we Frenchmen scil wino, They wish to obtul tho bigh+ est prico for tholr silver just as we do for aur wines, and for this reason thoy ilesiro that tho Conference shuuld recommoand tho fren comnga of sfivor in order to restore that metal to tho former par—thut is Rony, to 00's pence per standard ounce, 1 trust that my dlstingiished collerzue will permit me to any that 1 looked for lottlor views from hilm., 1 did not believe that hoe would anor up this {mputation from tho low lovels of ignorance nnd of malevolence to carry it to the bar of tho Sennte. How ts it that he, the ilustrious founderot the Latin Union, the indefatimble propagator of that bonutifal and preanant ides of inonetary conll- Mons on the grandest seule—how, Lusk, Is it that M. de Parlen docs not sec that the Amoricata fre only adupting tha Iden of which he bas made himeolf the apostle; and that to-day thoy arc proposing its aduption by the world for the ren von that thay betlove thelrown Interest nan great commerelal neople to be at ‘one with the Inters est of tnunkind? Let ts then, in the first place, sce what this Interest of tho sllver- producers amounts to, which, thoy say, America wishes to uphold at the expense of Burupe. It we consider tho actual facts, this Interest np- pears to bo of the smailest; If we go to tho bot- ton of the tnatter we cannot but recognize that it Is absolutely nothing. At any rate this Inter- catia, as wo hive suid, of the sniullest impor- tance. ‘The production of silver in the United States Inst your is estimated to have been $3 QW, Granted that free coinage would rulso tho white metal to the pir of Its, It would bo 1 rise of about 16 per cent, or au ndded value of $5,500,000 ta. the total product of silver in the Uulted States, Suck would bo the profit which Tree colmiumy would bring tothe Amoricans, Our opponents, according to thelr own teures, shold reduce this profit to &,000,000 (15,009,000 france), siuco they contend that sitver would stitt remuia depreciated to tho extent of 5 per cont, SILVEN AS MENCHANDISE. Wocan arrive at tho-result In anothor way. Tho shures of all the sliver mines In the United States, according to thelr prices on the stock Hsts ut the Exchunge, do not represent $200,000,- 000, of which the revenues tire loss than $10,000,- OW, for initny of those mines ire worked aca loss. 16 per cent riso in. silvor wotld inercase those dividends nt most tyr $3,000,000 or $4,000,000, Let us double this sum anni enll tt $0,000,000, o¢ 930,000, frances. Behotd, then, this colossal State, which Js nothing less thin a contl nent, whose favorable batunco of trade is nearly 1,000,000 frances; A Stuto which has nt ite disposal av oaimunl surpius in. Ite Budget of inore thi 400,000,000 francs; which has received Crom Europe within two sears and 2 ball moro thin 1,000,000,000 In gold, ‘This State solemnly sends abroad a dclegation composed of {te moat iinportant stateginen und oF its mest distingulshed specialists In this branch of econ. omy—nmong tho first. Evarts, who hus just held down tho portfolio of Forelgn Atuin—Thurman and Stele 4 Howe, tho jwost ominent repre- sottutives of the two grent parties which divide tho Senate, and onv of them nn ex-eandiiite for tho Presidency, and finally, Me. Dana Horton, the wuthor of the excclieat book, “Siiver and Gold,” and of tho splendid volume entitled 8 International Mouetury Confers enco of 18 which the Congress of the United States published, and whlub, by the sane wus thority, 1a Uered gratulrousiy to every one who: nay ne to possess tt. This delegation ire riveo In France, and 14 charged to request from Europe n charity of 3,000.00 tn bebulf of tho operators anid Jubbers ju intning shires. Such is the pict which some attribute to tho te trunsatlintic Republic, aud Frince al- lows horault to io made her ditpe. Is not this a supposition absolutely puerileand Inuyhubte? + Yot tn reallty even this trifling Interest doca t ex! Pirmey said at the Conference of et. 83 Destroy ail the silver and the gold which Wht romain will be worth ws nineh wa tho tro metals Cogethor were before.” It tbls fs trug it follows that, nntho United States product exe actly ad much yold as sliver, the demonotization ul one of these two metitls abould be to them 1 matter of perfect Indifference, since thoy ure sure to watt on one Eide what thoy would lose on the other, INTEHNATIONATL, BIMETALLISM. Cernuscho’s ten of international timotallism won over tho United Stutes to favor a selentitie movement similar to thet which has brought about neonversion of Goruan sclenco and crue dition. If tha mogt Hlustrigus economlsta of Ger= muny—lHoacher, Wagner, Schuefitur, Lexis, New- wirth, Abvendt and Sness—avow themsolved in favor of ndoppelwibrunge (double standard It will not probably be urwed that it 1s because thoy have silvortogell. International bimetale Hsin bis been expounded, us well fram tho bls- torly us from tho selentitie TnIAEAEy pant of view, Inn manner by Duna Horton. The same eat dupted by the Silver Come 3 OF 187d, Of Which tho re- port {s, In my optniun, tho most Important oftl- clu document which bas been published upon tho mean ry question. Stuco then bimetalia hus guined further ground, notwitharanding the pppodition, of the yold fanatics at the New York Clearing-louse on tho one side, and of tho silvor inen on the othor, o-duy, after the conforence of 1878, nid tn presence of that of 1881, bath of which wero Drought on by the United States, it muy be said that bimetalllsm represents tho monetary creed of Amerie, aud Amorien sume mona the whole world to this meoting with the uel whivh speaks only in tho volcvofagrout pte, Peo; ‘Thore took plice in the United States the same thing wisieh nus algo taken ples in Gurmany and italy, and which wo shall soon sco in bite gland. Ih America under the jinpulavof cconoimic requirements, ponple wore fed toon serious atudy of the problem, and from. that tlinu the truth—tho nocesalty of international blinetale Nam—becoma appirent. No doubt very dis- tingulshel men may remain mowomutullists by Iuiing thonwelyes with the convenient and Hatteriiy contidunce thut thoy aro in the pus- session of absolute truth; but’ 1 am conviticed at it they would but give themselves tho trouble toatudy tho mass of materials which sicence bua latterly bruught towether and tho teachings which tow from tho frets as observed during the pout ton pont na tho lenrucd Gere mand bave done, they would chunge their opinions. 1do not menn to say that J tm epenk- ing of C Echo tu Parlement, for that Journal tinds ite chief urzuimont in tha contempt whieh Iten- turtains for these studies und ropronohes mo fur haying givon ty time to thom, A MON Do the United States, then, como to Paris solnly to defond a seicutitiv dea? By no meuns, Nations {n gonoral donot take such initintive stops unless moved by their own Interests, and Atnerlen's interest ta this matter Is grout, in= monde, but ultoxetber diferent trom tho one whieh hus boon supposed tu Intluence her. tt 13 not uo question of i shabby prott of 85,000,000 or UG, or i iso in silver, but of uw unin of hundreds and thousauda of millions by the de- yoloument of commerce, M. do Parien ts cere taialy not the man deny tho very important benellts which would resilt from 4 erent mon Ghary untou, vomprising Kurupe und America, estublishtne throughout the entire world equal- ity aud tixkty jn monetry exchanges and plias fog thom upon a commun basta, No people hyo Bxroater Intcrest thin the United states iu tho reullzation of this magnificent conception, fur no lution sees opening befure it a like coms werolal future, You suy that the Americans sro shrowdor ‘busivess won than others. fT aduilt it, and 1 wuy Uhat Juat on this avoount they understand better thun others tho advantages of ny monetury union as wide ta poadible, Who M, do Parlun opened the monetary conference nt which bo presided was tt not thly ideal that bo proposed to ee atone in words of eluguence and of cone vietlon? A great Fronchman, M, de Lessopa, is now ruady lo romuve the barrier interposed by Naty ure on the trade avenues between Europe and tho west const uf Amurica und the oust it of Asiu. Ia it not a parallel progress & rey those monutary barrivra whieh the diversity of atandards and of tholr rolations,to cauh athor, tho resulta of fucer icnorance, willl raise auntnat an international regulation for the wut. Hemant of the bulunce of trade? Amoriva hus ae nich titorest In the establieh- ment of univergal bimetalligin ty in tho opening of tho canal through the Isthous of Panuwn, he hus, perlitps, anothor and still were press fog Interest, wad that tw lo perailt, or rather to make it pomible, for Europe to pay the debts shy owes tu America. Bald utone bas becomo manifestly insuttolont wattle the kiguntic transactions between Kus tho two voutinents are to rope wid Amerlea, quarrel over this metal, ft saurely America that will come off tho victor, by virtue of physical facta moro poworsul thun atl uur theories. Aorica produces guld, and, besides, we are— aud we are kale to reniain—her debtors, Ui tolvba within wont ty toa Ve it twonty yoars an appy to Able tu keup tho sliver stuadund. "NAPPY (0 be ‘Tho Kuropoan wonouictallste should moditato upon the serious words of Mr, bs, Prue nounced with all the authority attacking ta tho utterances of oue of the Dircctury of the Hunk of Bugiund; =" The question le botug gradually narrowed ton inonetary striggle betwoon Hus ropo and America,” EMILE pn LAVELEYR, LAWRENCE & MARTIN. The Unsecured Debts $304,000 and the Assets $71,698. THE MONETARY CONFERENCE, Landon Tinea, May 7. ste An. Important compmnleadon wus matte to tho Monetary Conferenco to-day by Baron Thielmann, on behalf of tho German Goyern- ment, After Justifying tho adoption of tho wold standart by Germany on tho ground that other Stuter would othorwise hive seen thelr enica of silver and ndoption of gold monometale Vista Maotlituted, be stated that 1,747,000,000 of marks had been colned in gold and 1,080,000,000 marke of old silver col demonetized, tho cost of tho operation being 41,000,008) inarks. Accont- Ing to tho highest estinath, nbout 600,000,000 marks In old thalers, Including austrian ones, still romainod, While reesgnizing tho de- eirabilits of tho rehnbilitatton of allvor and its Consibility by the restoration af free mintuge in a certain nimber of great States ot txed rattoto gold, Germany was unable to Join in stich m course, but wis roady to second the olforts of Sti pose, Fora certain number of scars abo mujhe abstuin from all stles of silver, iis she bad done aince May, 1879, and for nnothor period of dirt= tion sho might engage to soll nly ao Ninited 0 quuintity ag not to glut the market. Utterlor regulations would fix these periods and quiintl+ ties. Sieh an nerangement would protect Ite Metallic States from an unlimited intlux of Ger- mrn thilors, which, morcover, could ovaur only if the bainnce of trade was aginst her, or if the ratio of 144 of tho Bhuctallic Uniott wns sen sibly inouliled in fayor oF gold, an unlikely cons tingeney. In any ease, the export of thalors would bow losa for tho exporters, so tht tho Mmotallic Union need not upprehend an influx of Germun sliver, That union, moreover, might exclude thalors from free ulntigo, thus adiling to tho cost of such n speculation by faddling Its authors with the expense of mole down and rutinuay, Germany inight also extent the Internal use of silver currency by enlling tu tho five-mark gold pleces und tho ‘Troasury notes of the same value, making togothor 05+ 000,000 marks, and sheinight welt down tho five and two mark silver pieces, recoining thom at a fatio of about one to 14!4 In Hew of “ute to HM, Mr. Fremantic, on behalf of Euutand, stated that she coud not bandon nayatom woleh had worked Cor sixty years without the inconsistenoy attendwnt on other systeins; tut, whilo not take. The Creditors, After Hearing This, Retire into a Cave of Gloom, A meeting of tho creditors of Lawronce & Martin was held at the ofice of Tenney, Flower &Cratty, in tho Grannin Block, yostehlay, Thero wore nbout thirty-flyoe present, reproscuting In tho neighborhood of $200,000, Among them woro J. M, Athorton, of Loulsvillo; John 8. Beecher and Herman Meyer, of New York; W. F, Lowls, of Montroals Mr, Daviaon, of tNotlatro, 0.1 Juhn Parker, Al Arundel, and representa: tives of about two dozen distillerica; also, Messrs, Horton Ullman, Eln, and Assay, ropresenting creditors. Tho lutter apprarod on bebalt of Iyes Heccher of Now York, Mr. Mohr and Mr. fteesa of Cincinoat!, Lawronce Myer & Co. of New York, Arundel & Moltun of Chicago, tho Garden City Distilling Company of Chiengo, Chapin & Gore, tho United Statos Dis- tilling Company, and two moro Chicago distil- lerios and two in New York, tho total of all tho claims beluyg $85,000. Mr. Heecher was called to tho chalr, and Mr, Arundel chosen Secrotary, hore wero n r@mover of roportera present, and nt tho suggestion of Mr, Tenney thoy were asked to retire. Mr. ‘Tenney thon submitted a statement pur- porting to show THE CONDITION OF THE Finst's AFFAIS, It proved thata great deal of Iying was dono whon the doors of tho house wero closod, tho debts being $477,000 instend of $250,000. According to this document tho unsocurod Aleposed to unite for that pure {ig partin any Voterhe was rendy’ to offer any | indebiednoss fs $271,055: bills discounted, tntormation, and should waten tive debates with 250005 tort et and tho, xootired ine Uvely duterest, Lord Hens, for tho Indinn Couns soi ness, $1iz,00; mnking: the abilities . vd oof arudical chingo af | £77,051, Tho nasets consist of recounts, bills eee ee ae tne at cil nc readiness to | Fecelvablo, and cash, tha gouds not In the hands consider any atmgestion for restoring tho valuo | of Judgmont creditors boing hold by other erod- ofallver. Nir A. Galt, for Cannda, aud tho dolo- | tors ns collutoral, Tho necounts are seule uates of Portugal, ‘Iitssin, Greeeo, Austrin, | th! mitting the bad ones which foot up si,- Sweden, Norway, and Switzerlund reserved thelr entiro freedom of uction. ‘The general dis- cussion, prior to the cunsideration of tho pro i tigin frntned by Mr. Vrolik, was then opened by 1, Cernuschi, who referred to the Gueinan pro- positis as a busis for negotiation, thougl innde- quate as thoy stood. Ho foreshadowed tho adoption of bimetatiism by tho English Govern~ mont acter the agitution which paved the way for all reform in Enighaud. Dr. Uroch (Norwity) defended the gold atundurd, MU. MORTON'S QUESTIONS, ‘The program subsnitied by Mr. Horton (United States) at ‘Tuesday's conimittec, and whieh, though eventiully witbdrawn, was tho abject of ncompliinentary alusion by Mr. Vrollk to- diy, Was us follows Does history tell of any dovelopmant of civil gociety, Whore there was no inposition and no payment of tribute and taxes, Hines and datas Doubtful, $12,126924,, Good, F810... Bills recolvable, $0,02280, Cash.. Total ,.... UNDER THE MEAD OF the firm told bow the money went. These aro tho fycures: Lawrence, personal account...... Martin. sew eee: L, & M. race-track.,... Produco xchingo.. Toln, ltovk, and Kyo (net) CIUD-HOUBes. 666 06 Bad accounts. paid Dein 1088... 0.ss0ssersrerseses cree sone eo A22ONIRS %% Does not civilization Inply the progonce of | 4 Thy firm ant thoy pal $74,000 for stamps and $1:20,000 for at Rock, and Rye. A shabby individual with 2 seedy felt plug bat on called tho attenton of the Cunir to the Inct thnt tho reporters wore agnin present. Mr. Tenney insisted that the room should nat once be elenred of roportors, He had no proji- dice ngalnat them na a batly, but they wore nt- tending 1 prcate mecting of tho creditors of the Insolvent tirm. and clearly it was not right for tho ropurters to be prosont, Hoe was a reporter hinscll some years ago. A volee—Hcportors have improved since then, Mr. ‘Tonney insisted that tho press should at once leaye the room, MIL E.G. ASAY anid he did not sve any necessity for tho soporte: ors to bo excluded, ft wasn meeting of the croditors of the firma, and it was fora majority of them to devido whethor or uot they bad nny thitye which they wished to bo kept from tho public. He moved therefore that the reporters present ba invited to remain and take full notes of the proceedings, The motion was carricd. Mr. Asay thon moved that tho Chalr bo au- thorized to appolnt a committeo of tive to ax- finine the books of tha insolvant firm, nud to roport at n future meeting of tha craditors. The motion preyuited, and the Chair appoint- ed as such commitice Messrs. &. 0, Asny, O. H. Hortou, Ff, Ullinnn, D. Russ, and W, EF, Lowla, On motion, the Presitent and Scorctary wera added to the Coninittce, Mr. Tenney made an additional statoment to tho effect that thoro hid been 9 wrent deal of suspiclon—oft very naturel suspicion—that tho three Judgments on which the firm had been closed out wore bogus, Hedid not blamo nny ane for supposing It, but the judgments hail turned ont, oa examination, to bo ay thoroughly correct Habilities of the firm ag nny. Examinus tion of the flrin’s nifaira would show that THE FAILURE HAD ARISEN HY MISVORTUNE, AND NOT IY FRAUD; thero was no clement of, fraud in it, unless tho continuution of business after it becaine known that it conid not bo auccesufully conducted was such. ‘ho firm had hopes that some one of tho many wires thoy tind in tho tro might proyo a nhotone, If it apppared to tho Comuittee thut the = itrm hat been over — sangulno— to use a vulgar expression, bitten more than thoy could chew,— ho hoped they would bo aliowed to go on again and inke advantugo of the advertising of their apeoinl compound (lolu, Rock, and Kye)—which would by of advantiye both to tho frm and to its cruditurs, Tho present offer of tho firm wus twenty conts on tho dollar, one-half cash and tho remainder In six months, for which notes would be given, A creditor—What security will bo given for tho payment of the notva? Mr, Tenney—None ut all. Tho Cowlr—Whon can tha Committes com- mence the examination of the books? Mr. Agty—Cun tho offer bo changed to cash, ortho notes seuurcd? Mr, 'lenney—I do not kpow whother tho notes enn get the security of an additiognl name. A credito:—Witt the Looks bu open to tho Ine spection of creditura other than those on the Cornmittee? Mr, Lennoy—No, sir. A croditor—{ do nat seo why a creditor should uve Recess to them niore thin avothor, Mr vot ee supposo tho Committes are on bonor and will not tako advantage of anything they learn from tho books. Anothor creditur night tind out tho namics of some ol the coun- try debtors and havo them garnisbeed for his personal benvllt, and to tho dutrinient of the ro- waghttye oreditors, Mr. Asny—The Committee can bo consulted on fjucattons arliing in tho minds of othor creditors, Mr, Elu—Is Mr. Trude ready to yo before the Comnilttecs and EXPLAIN THE MATTER OF THE JUDGMENT NOTES? - monoy ns nl clvit fnsticution, an Intugeal portion of tho State, and that thut whieh Is fegul-tender in disehurge of the oblamations mentioned shill Also be an acceptable instrament of yuluntion on the part of State and indiyidunls, t cone venient medium of commercini exchange, and shall (hus beeorne .an_nimost omnlpresant ole- tof private contracts? . Lins not the monetary Inaw, which lits cre- ated tho entire use made of the precious metals Nkewlse created nearly the whole of thelr yulue? 4. Whero several commodities try elevated to tho rank of money tn ditterent countries, elthor singly orjolntly, nt sume ratio of equivalence fixed by nutlaml monetary law, dovs not the pen monetary liuw of caintrics whlen uso either or aller these commodities aa inonoy entirely control. tho relutive employment for thetn, so that nt any given timo the rate of thoir cqulvas lence with enc other, whether ag nctuul or pos tential mones, fs inerely tho result of the cum- Plex forces of tho existlag monetary baw? 6. Is tho prinutple of treedom of contractor of freedom of exchange apposed to tho aimul- taneous employment of sliver and yokt money ata tixed rutly established hy the law? @ Waving wil qiestions of the methods of core rectly ascortaining general avorages uf pri is nut atabillty of averngo pirchasiug power the ehilef dea(deratum in money? 7. Is nota general reduction of averageprices accompanied by a profongedand losidions crising 8. Has not ench nation, iu the proportion of the netlvity of {ts peopie in production und ex- change, uu eqnal (ntorest In the stability of tho fiverngo purebusing power (at home) of tte moi a ne: " rit not tho prohibition of allvor colnago in Bland after 178, ut a time when wo war do. mind for gold hid compelled the use of paper nioney, Inervase the divergence between paper and gold, and assist In imatntaining «situation whieh made the retention of paper mony nece essary? 10, bia not England’s replacemont of this pa- per money by gold alone (1815-182), withdrawing: Trom {ts aveustomned chunnely of ctreulation a cong derable portion of the world’s stock of yoid Ata pertiadl when the tununl product bad been, and remutued, notably detcient, und when tha monetary condiiou of athor countries rendered rouble a general subsidence of prices, oxposo Enwhiid and tho Western world to a considera Dio rise tn the purchuaing power of money? UL Has not onch nation, in the proportion ot its relutions with forelgn nitions, etthor throwh commerce or through Internntionsl tn yostinonts, uu luturest it the stability of tha rate of equivalence between its own monoy and that of tho nation with which It has dealinga? Rovlowing the wonetury polley of the coutury aida hull before 37), during whleb period the monetary jnw hus uphold for sliver wod gold that position of domestic aud international qoney which they bud enjoyed since tho origin oF civilizadou, but bad omitted, by conourrent or identical legisitdon, to Nx tho ratio of aqulve alunce between thom tore closely than {4 indl- wated by! 14.50 to 10 us tho Husits of its tuctine ton, it fd asked whether this Nuctuation would not have been materiutly tess? a 1. Hat England in vit, or nftorward, con- qenneu. hor-wllyor und gold ratio to that of Pruncg! 18, Had France In 1785 or 1803 adupted tho ratlo of 15, Instead of that of 15.607 HH. Hat Buyland sbstalied from outtaying sil ‘vor ua dumedtio money th 1703 or 18102 15. Had the United States in 184-'37 adopted tho ratio of 25.60 or 13.07 = 18. With refurence to tho same period, It may be askel whether, In addition to the instability Initictud upow the internitlonal trade and inters nationul investment by tho coniiicting gold polloy, ia not likewise chargeuble with the thie, wud tabor, and capital consumed In elfectliug ux ehunges of one Kind of inoney with nnothor, which urose direatly from the Nuctundion in this rato of equivalence? . Hing the convenience of mankind been sorved by niuktoy gold lighter and silver heavy fer,—that fy to say, by n serlos of legislative aots, Which bax altered tha ratu of divergenco between them froin 14.60 tu 13.00, : 18, Wout portion of the total of monetary law ta tho elliclunt cause of the stendiness in the rite of equivilence between gold and silver through: out the poriod between 10s anu Leah? 1. Wut would hive buen tho influence upon this rate of equivalence nad England and France: Suaronetiqud wuld atter tho gold discoveries (1819 2 Did not tmporant reductions {nthe domestic averngy of prices oceur throughout tho Wostorn worid in thy yenre following Wie 21. Have not colneldont chunges in menuotacy Jaw, reducing the cals of money in the Weat- orn world by the withdrawal of legul-tander power from oxisuing siivor colua, by excluding silver from coinage, aud by checking tho circuld. tion of existing mony, been a controlling factor fu thls reduction? 2 Doce vot tha existing atnte of business In Europe and Amoriea demund, a3 a condition to the anilatenines of the preaunt general average of prizes, a conailornbly anttial incroaso of tho inaterial used vy thom aa Cad ih Donot existing prabubliitics point to a Mr. Asny~Tho Trude notes will not cutany Aquro in the suttioniont of thi fair. Ir. Blu—The question i whother Mr. Trio is 0 preferred creditor or not, and 1 think tho Pres- ldvnt of thn meeting suould necortain whothor Mr, Trude will come before the Comimittco and produce his bouke and documents. J understand that Lawrence and Martie are willing that this shontd be done, Dir, Asuy sugwested that a atonographer and oxpert bookkeeper bo euyployed to uid the Com- aniites {n tholr examination, Carried, Mr. Penney sald that bis frm wero ready to puy the expense of auch an oxamination, and called the attention of tho mocting to the Ligt that tho execution on Mr, Trudo’s notes wis duc on tho following day, and suggested that the ercdltors gut ft postponed for tun duys, Mr. Away sald that tho auto had been post- Ono On moton, the Cominittce wero instructad to gue that tho salo was so postponed, ‘Thoy were itlso Instructed to dlacoyver none of thole iindings oxcupt to the body of creditors, A gentleman trom Cinvinuatl spoke rather tn favor of the proposed compromisy, but thought ital that 25 cents cash would be preferable, wheel ed mimutat production of gold in tho | ME MT io not bellove anyone hore wants to accopt 73 cunts, unloas bu be madu to belleye surOy 34, Docs not the present general exclusion of that tho fallure sun honeat one. silver from mintize in the Western world, di~ rectlug invautity demand upon ietook of wold | the meeting, after sume Informal discussion seuntify: relntureed, promlaoe if cuntinued,-iue | Of tu cousequdnoe, adjourned, to meet ugatn at Rei IMcoted With Dralion oF waveratavers | 22. M, next Cucsday ue tho ramont House, ges of prices, oF un excessive extension of tho dels reported that Mike McDonuld haa afforod Aroward to any photoyrapber who will bring Lim 4 good ploture of the countenances of tho croiditors of thy buratod tirin ng thoy ilstencd to tho ubove fnuncial stntament. << A TELEPHONE EXCHANGE, Spectat Dispatch to The Chicago Tribune, ‘use of poner: money und of transfers of tlle to money? > a What would he the effect 1 single nation should new, by chungtug its present monutary laws, sensibly tacroase its stock of gold? in there ho any other important causes for the abrupt divergeies of the rate of equiva. Teneo between sliver and gold ta dutornutional trade, which has occurred sinco 1873, than the Euain, 1, May 20,—Mesara, Fay and Haskina, withdrawal from silver and transfer to youl of | of tho Gray & Edison 'felophone Company, are Aniuportant purt of the normal munctary ou ployment ul Luropo for sliver? 31 Had Qormauy adapted a silver and gold standard at 153s tn 1871-1873 would nut uo bighor degree of steadiness in tho rate of equivalonve of tha two motals in tho world's markets have but attained? wa, Would not the aevession of Bneglind to a Dinotullic union of Continuntal States wilh tho Vuited States of America put the par of tha motile thoughout the world in conditien to withstand undisturbed any changy of wuss through discovery of ujthor motal, of which hie tory: whee. Prevedunt? + 2. Is it nut dusirublo that there should bo unt formity betwenn tho Buiter reprogonted In the Conference in the mint cburge or in the churgo made in commutytion of Intorest for the tho snatuiey 4u the wine in converting bullion Into in Elgin arranytug for tuo starting of u'Tolo- Phone Exchange. They bive ulsoone pirtially Organized at Auront, and design connecting tho two and Gcneya, tho county-sont, midway bo~ twoen tho two cfitios, and twolve imillos from elther, The project meets with great fuvor hore, ——___ A ‘BAD DARKEY," Speetat Dispaten to The Chicago Tribune, Evayy, lll., May 20.—Charloy Poyton, or Char- Joy Brown, the young colored man shut in Chl- cova Sunday, ie well known hero, where bo worked tu a barber-shop lust suinmer, and whoro his futhoe and wits rovide. lio was kuown hero fa tirown, and bad the reputution of being a “bud darkoy,' = Another Wiil ‘Trouble. New York Correspondence Letoult Free Pres, Bowe wsltiisters, Just Nke some sinners, al ways Lave soimutblox disagreeable bappeniise in ‘thelr fumitiea, Our versatile and vivacious neighbor, Mr, Meochur, 1s ouv af these, The latest trouble ta dir, eeubor comes, ot throug any avt of his own, but py an dndlucretion on tho partet bis wits, Vt may not be serious, but it certainly 16 unpleasant. It is all about a will that wus vue by bir. Turner, the man who bid oharge of Dir. Bovobor's Pookskill firm. ‘Lurnor died in January last. It was known that bo bad inude a will, bequeuthing about 810,000 worth of aad erty, butafter bis death the will could nut jyund. The lawyor who drow it kept a copy, ————— . To Accommodate the Public. Tho proprictors of that immensely popular romudy, Kidnoy- Wort, in recognition of the chilis of the public which tits so Iberally Putrunized them, buve prevureda liquid proparu- on of that romedy for the speutal uceuuinodus on of those wha frum any reusou disike to prepare it fur thetmsclves. It is vory conven= ted, and, As the dowd te smal, it is muro cually tution 12 ail'dtvonavs of tho kidnoye, livers oF ul ol ic bowoladHome and firme On overs © ——— A timoly uso of Hop Bitters will keep a whole family In robust health 9 your with but littlecost. find this has been offered for protato In Hou of tho originul papor. From the testimony taken in conncetion with the proposed aubstittion of tho copy for the original, tt mypeate, that almast: on tho instant of Turner's death Mra. Heochor rye of everything botooging to him, anded tho keys of his desk and trun from on firm-hand te whom Vurner had gtven thom during bis tlle ess, and thoy wero handed to her at oneo, tC imorning tho farm hand was called by Mra, Heeeher to Turner's room, Tho desk and trunk had been opened and tho dead man’s papors wero seattored on tho floor, Mra. Heevhor orderod the farm-hand, whose nang ts Bulger, to tako them ont and sel tiem, fie did so an brought her buck what he got for thom—nbout adollar, faterin the day she bado tim take fwny anothor lot and sell thom, and be again did fo, bringing her tho, inauoy: na botore, Kulzer says that ‘Curner had told him that his will was inn tin box in one of tho trunks. Aftertho aalo of the panera no will could be found. Itimay have been among tho pnpers, and, ns some of thes were torn when Bulger was ordered to tako thom away, It may have been destroyed. The way that Mra. Beccher's name is connected with tho mattor i¢ deoidedly unploasant, to say tholenst. Itcertainiy was imprudent in her to dispose of tho dead man’s papers in tho way sho did. Mrs, Beechor bas always bad a strong will of her own, and its oxercise has lud to disagree: able, consequences more than once, Had sho Jet Farmer “urner’s papers nlone, or oven hand- ted them more carefully, tho present unplous- Antnoss might not have come. THE COOKERY QUESTION. Lecturo by Mrs, K. BP. Ewing, of tho Chicugo 'Craining-School of Cookery, Yesterday afternoon anothor cuttree of lect tiros on tho art gastronomy was inaugurated at Fatrbauk Hall, tho lecturer bog Mrs. Emma I’, Ewing, Superintondent of the Chicago Train- Ing-Schoot of Cookery. The lecture, which was free, was preliminary to tho regulur course on plain cookery beginning Junc 9 and continuing for ten consecutive Thuraday altcrnoons, Mra, Ewlug stated that a course ticket would cost $2.00, and tht tho Iect- ures would only be !lustrated by not> unt cookery whon nbsulutely necosanry. ‘The objects {of tha tratning-school establisued Mareh 7 were: To found 1 tralning-school of do- mestle cconomy; to teach thorough, Intolligent, and syatomutic methods of cookery; to make a spoclal study of coukery for tho purpose of popu- lurlzing tho subjoct In fits eclentitc uspecta; to teach tho best nodes of proparing fvod, a8 well na those methods which ure simplest, cheapest, and most healthful; to establish Btandart and reilable authorities an housework; to promote and encournge selon tile research [in hygicnio, cheinicnl, and physiological directions; to stimulate and asstet yours women in acquiring st theraweh oducation in domestic economy, ts ono of the surest guar untees of Cuttire success nnd happiness. “Who ts to Binimne?" wns the subjcot of the lecture, and Mrs. Ewing occupied nearty tin hour in answertug thls sociat conundrut to the forty ladies who were present. Sho sald that ambl- tion was us neopesury for womun ws fur mun, and mothors ought to recoguizo this faot In educating their duughters. Too many wero taught tu bo ornamental, aud to consider bog usotul adiagrice. Even in herown acknowl. edged branchos of Industry—washing, cooking, and sewing—womnan wis beng excelled. Men did the bust laundry work; men took the lond in fancy cooking; aud men Invented tho suwlug- machine, Hoth suxes were to biatne for tho oxe isting conditions. Tho responsiblity could not do divided, but, like the Interests involved, they wore mutual, and ceatured in: tho fundamental iden uf humunity, Home, ile thought ita great misfortune that house- hold duties should bo considered udrudgery, and dono tin frettul and compinining aplrit. There wore slovenly and slipshod servants beentise tho mistresses Wore ignorant of proper mothuds, Bridget wieruted tuo housshold becwuse hor lg norance was less donse thin that of her mistress, ‘The culinury ure was most important, bocausc inany crimes were tracenvlo to bud food, Had not Napoleon had an nttuck of dyspepsia bo wotlld not bayo lost the battle of Waterloo; and It was atch mon as Jefferson Davis, whose disordorcd stomucha made thoi wretched, that plunged this Nation Into civil war. Com- fort was esscntial to happiness, and would bo banished by n cup of muddy colfce wt broakfaat. Women falied to appreciate the iniportunce of tho coinforts of home, which ought to bo made the inoat attractive place in the wyrld for nus. bands and guns, ‘To build up such homes would be « practicul temperance work that tho women's crusado never could accomplish. Mon. weru apt to think thut-tho ionnlinaty articie bread was o allent, sad, and cifective pro- test against warun's sulfraye. If she could mike only benvy, sour, baked bread, bow could ‘sho make liws! ‘Tho speaker, however, found. that the so-cnlled Btrony-mninied women that sho know wero “umong tho best housckeepers. The world could no longer be tudifferent tu the food question. [t wag not nocessiry to mortity tho flesh for con- acienco sake, It with a noticeable fact that most of the [nnoy couking was unpilatuble to those unhuccustomed to: its use: the triste hit to be, she would not say cultivated, but deprave to a liking for these fancy dlahea. Tho Appetite wis us suscuptible to oultivation as any of the fucultics, nid ought to be educatud ta proper foud, rather thin to ploago the oye with ‘a brilliant array of beautiful dishes. The speaker regrotted that au many women Jontnad: their household work, and thought It they would outer into It aus cagerly as thelr husbands entered tito business thore would bo Qbappler result, It was the heart, the motlyo, that made work a joy oradrudgory. Woman's department required brains as much as any othor, ‘Tho leettrer read a lotter from Mrs. Yrosidont Garitelt in which sho spoko of the inspiration durlved from brend-baking. Woman desplacd tho sittle duties, forgetting that lito was mado up of | trilles, Tho world suffered inore from heudissnoss than from criminuilty. People who walt. to cscapo drudg- ing by shirktng responsibility become Ineapaai- tated for domestic enjoymont aud waste thelr time in Idle efforts to te bappy., Thoy should not count duty ag drudging wero such results woro fnvotved, ‘Tho lecturer pleaded for tho Inrgest liberty and widest privilege for hor sex, and tho right of ovory woman to ehoose her yooution In life, but home was the noblest sphoro: nud tho truoat liberty was the right to inake hone plonennt and atiraetive, She thought tho glorious day wie alresdy beginnlug toduwn when it would be no tongor necesaury tu Inguire, Who i to blamo? EDUCATIONAL. Ex-Gov. Evans Offers to Glvo 250,000 Towards Liquldnting the Dobt of the Northwestern Univornitys , At the Invitation of Mr, Orrington Taint, an in- formnl meuting of Influcntlal members of the Board of Trustees of tho Northwestern Uni- verstty was held in tho Grand Pacttlo Hotel inst evening at 5 p.m. Evans, Prealdent of tho Board of Trustees, and- to consider tho welfure of tho Univeralty in general, ‘Thore wero presont tho Hon. John Evans, Bishop Merrill, Orrluzton Luut, Judgo Jumes Bradwell, tha Rov, Arthur Edwards, D.D.,, tha Rav, 1% Bi, Huttletst, D.., Mr. David MoWilliams, Mr. P. LB. Shumway, Mr. J. J, Parkhurst, O. I, Horton, the Hov, D, Prost~ ee indo, Ds dent of tho Garrett iibltcut’ institutes De. N.S. taivis, Mee, C. Houw, Se, James Brake, Mr, James G, Unmilton, und from tho Faoulty o: tno University, Oliver Marcy, LL.D, Acting Prosldent of the Univorsity, Prot. 1. 8. Carhart, Prof, Julius Kullogg, Prot. it. Fiske. The Juesting tirat adjourned to the dining. room, Where Wuner was discussed until about: Op.m, when Btr, Ryans cnlled the mocting to onter, A number of sueechor were made, allta tho effect thatu Prosidont of the University must be vlocted at tho upproaching wmecting of the Mond of ‘Trustecs, and that not only muat bis snlary be provided for, but same provision inust be nado forthe debt of the University, which TOW HmouNts to about $200,000, Amon thOge whvu upoke werg Dr, Haweid, David MoWilliama, Dre Ny 8. Dayle, Dr, Marey, Prof, Fiske, O. i, Horton, Dr. Nite, and Bishop Morrill. Gov. Evura was thon caliod upon to givo his viows, and regponded, Ho fiest suid bo would ahow some figiives = to, Indicate. tho money, that bud hoon put tuto tho Univorsity bad not been missneut, Tho University has graduated since Its founda thon 00 students. Lt has taken wlmost through tho course of study 1,400 besides, and hus tugoe du the preparatory department 2,800, From the Dedicul College there have gone out 405 phy- flelung, and from tho Union College of Law 200 nwyors; 121 minletora hiuvo voen wont out from tho Unrrett Hibileal Matitiute, Dogreca to tho huinber of 1,030, but tow of whieh bave been honorary, have bowen conferred, Of the Seu utes, clybt uro snissionuries iu foruign lands; ofgbt ure Presidents of other colleges, Coming to the considoration of whut ought to bo douc now, the Prositent spoke pluinly and to the paint. Ho dld not think (t possible for bin sto De present at the comlug meoting of tho Dontd; but he was strongly of the apiolon that a President shautd bo cleuted; and that tho debt ought to be wiped out. the latter end he would givo his ald a6 folluwe: He would give $25,000 out of the Nrat $100,00u, and $25,000 out of tho second $100,000, toward Hitting the dubs, pro- viding the Jcustees would tind means of ralsnug the rowulnder, ‘This offer would remain opel a the second mooting of the Hoard of rustecs, After somo furtbor discussion, a committeo wus tppointed to report these procvecdiigs ww the Roar of Trustees; und tho senso of the mecvtlng was that the Executive Committee put the negotintion toward electing a President in Buch shape that the Moard uay bo enabled ta aot when tt mects next June, die. Hatherd then rove to mention that tha Alumni Association was at work raisiug 4 fund to cudow a chote in the Univorsity, und that ho bad lutely been atu conference where a Conference Chale wae tn contemplation. = Alter gone expressions by those present, all to tho offavt that tho futuro of the University was exccodingly bright and ons couruglng, the meting udjourues padig seeds lieth A Strangor tu an Aqueduct. Sprluagite (Mias.) Republican. A Holyoke street woman, while drawing wa- ter for washing the othor day through a throu elghths of an inch pipo, was astonistiod to sce a Jong, slimy creatuse shoot out uf the pipe into to mect ox-Gov. John: for thts veritable cuneanily intry, boing, tho Lymax moaxtinus, or groat Knropoan slg. of which thoro are but two other recorded Instances In tho United Btates, It [sn ropulsive-Jooking object, allled both to tho snail and tho oyster, some slx and n quarter Inches lone, and with an WE, auokor-like hend. Tho body is mottled, and Ika that of a slug or snnit. A DEMOCRATIC SWINDLE,. ‘Tho National Government's Unprofitas bie Connection with Old«Timo South- ern Canal Spoculations. Spectal Correspondence of The Ctengo Trilnine, Wasitinaton, D.C. May 4.—Tho markets of Washington and Georgetown are lorgely supplied from Aloxandria and Vairfax Coun- ties, Virglnis, where “truck-farming” has become an extensive industry siuce the War, ‘The farmers of those counties, who bring thelr produce to Washington or Georgetown for sale, are compalled to cross the Potomac. oneither tho Long Uritxe or the Aqueduct Bridge, the main route of travel being xcruss tho Intter, Of the thousands of strangers who visit the historls Arlington I{ights ant the great National Soldiers’ Cemetery overy yenr, nearly all also pnss over the Aquedict. Bridge. ‘Chis bridge ts tho property of the Washington & Alexandria Canal Company—a. corporation chartered by Congress May 26, 181, Jn 1866 the company lensed the Aque- duct Drldge to private individuals, and they minds It a toll-bridge. Tho rates of toll ara exorbitant, Tor example, fifty cents 13 charged for each two-horse conveyance, 'The lessues, {¢ is said, derive « yearly revenua of somo $15,000 from tolls, ond pay the Canal Company a nomi- nal rent of $1,000 nm year, These tolls aro a heavy burden upon the farmers and narket-gardencrs who are compelled to use tho bridge. Mnny of them are colored people of small means, who have saved enough to buy 4 few acres of land, and are struggling to raise and educate thelr children. Inn respectable manner, ¥or n number of years these people, as well asthe citizens of Washington and George- town, have been petitioning Congress fora free bridge across the Potomac in the vicinity of the Aqueduct Bridge. Over 8,000 such pe- titions were submitted to the last Congress. ‘The lessees of the Aqueduct Bridge were able, for six or seven years, to prevent any netlon by Congress; and they still continue to enjoy tha Income from an oppressive tax. upon persons whose business compels then touse thebridge, Last winter, however, a law was enacted and au appropriation of $140,000 inade by Congress for a now Iron bridge. It wns also provided that, In cnse the Aqueduct Bridge could be bought for $85,000, so much: of the money might bo used for that purpose, and that bridge be nindo free, It wis very svon tliscovered that 2 new fron bridge could not bo built for £140,000.—an amount which the law deolures shall ant in auy event be execeded. The only recoursy, thero- fore, was the Aqueduct Bridge. But here un- athor diMculty wag cneountered, The Canal Company bad given a ninety-nine years’ lease of tho structure, and that lenso hos atill olghty- four years to run. Somebody then romembered that tho United States holds, or ought to bold, a proprietary interest jn buth tho cnnul and the Aqueduct Bridge, which forins a component purtor it. The Seeretury of War, under whose direction the now bridge is to bo butlt if built at all, requested tho Sceretary of the Treasury to inforni bliin regarding the ownorship interest of tho Govornmont fn tho Canal Company; and an Jnyostigation of the subject is now bomg mde, It appoara from the records of tho ‘Treusury Department thun in lee Congress passed a law * donating” 100,000 to ald in the conatruction of the Aqueduct, and that that money was duly pald. Subsequently tho Canal Compacy appoara tu hnye fallen Into difiicultios, eo. that it was unablo| to complete the ennil to Alexandria, Tho Town of Alexandrian bad sub- aoribed for 1,600 shores of stook in the canal, the par valuo of which was $150,000, This was three. fifths of nll tho stock whieh the company was by its chartor authorized to fssuo. An Rppoal was made to Congress for nid; and by an nct ap- proved March 4, 1857, the Scorotary ot the Treas- uty was authorized ind direted fo pay to the coinpany tho suin of $300,000, on condition that tho 1,500 shures of stock hold by tha Town of Alexundria should be transferred to, and thotr ownership vested In, the United States. ‘Tho Sceretary of tho Trosaury was to bold this stock In trust. and vote it n ulf clections of tho come pany, In fact, ho wne to control the manage: meitof the company by virtue of the fact that the United States uyned @ snujurity Its stock. Levi Woodbury wis thon Secretary of tho Treasury, under President Van Burev; and ho paid tho $200,000 to the Canal Company as re- quired by law; buthe apperrs to have neglected to huvo ‘tho stuck transferred to tho United States, a3 required by the enme nw. In 1875 & cominittco of “the Senate reported chat. tho own of | Alexaudria hud, in fwct, nover transferred {ts shares af tho Canal Company's stock to tho United States; und tho snino Cummilteo reported that whon the lease of 1500 was oxceutcd, as before mentioned, the Corporation of Alexandria yoted that very stock, which actually Lolonged to the Ontted Sintes, in favor of ratifying tho leayo. OF courso tho United States has ‘never reecived $1 from the Canal Company on account of dlvi- dends, Another peculiar foature regarding tho lenso is thnt, nftor it was oxccnted by the Canal Company, it was subinitted: for rattication to the Lexislaturo of Virginia, and was approved by Unnt body In 1807, Congress, 16 appoars, was, hut asked to ratify tho lease, ulthougb the Ca- nal Company owes tts corporate existouce to an uot ot thut body. Tho canal iteclf {s an affair of little conse- Spence uow, oly a fow boats passing over it in tho course of n yenr, It rung, throughout Its entire length, parallel with, and only a fow hun- dred yards dlatunt from, tho Potomnc, which, of courdo, is navigable for the anme distanoe. ‘tho falliirc to securo possession of the stock did not involve much dircet tors, for it ts doubtful tt tho canul over pnid its running expenses; but it shows how tho busincss of the I'rensury Department, was manuged In“ wood old Demo- eratio times." In those good old timos the United States cn- gaged in several canal speculations, all of which wore fannelally disastrous, In 185 the Govern- mont subscribed for 1,600 shares of stock in tho Chesapeake & Delaware Canal Company, and tt Tdvit bought 7) additional shuros, Under tha Inw, tha Sucretury of the ‘Jrousury was to voto these shares, und tho United Statos waa to ro- eelve nt proportionnto Bhure of tho cnrnings of the company, Down to 1873 the Govoruinent recolvou $209,874 from this suurce, Nothing hus been recolverd since, In 182) the Secretary af the Troasury was au- thorized to subscribe for G00 shures of stock of tho Dismal Swamp Canal Compuny, and $160,000 was appropriated to pay. tho subscription; in 2820 a nddittonal subseelption for 260 shires: was nuthorized. Tho Scorotary of tho Treasury waa to yoto those shares, and the Govorninont wns to receivo a proportionate sharaof tho caro inys of tho company, Down to 1857 $03,497.58 bad boon received; nothing tina boon pald sluce. Jn 183 the Government subsoribed for 30,000 sharos of stock of the Chesapenko & Ohio Cunat Company, paying $1,000,000 therofor, In 1838 Congress passed iin cot assuming tho municipal Indebtedness of Alexandria, Washington, and Georgetown, amounting to $1,500,0, Incurred by the subscriptions of those cities to the stock of the Cheaupeake & OhioCannl Company, To rodecom this turn coat tho Govornmont alto- 01 for principal, intorest, and promiums, u ce sum of $405,007.07, —mating tho tutal outhy of the Governmont on uccountof the Chestipeake & Ohio Canal nearly $4,000,000, Government nppours to buve received no div donds ol tho atock of this Company, which ta one of the most important factora in Marytand alitios, and which, mure than anything olso, It ie ell, Rermtuains the power of the Domo- oratic party in that Stato. THE PILGRIMS, ——— \ Richmond's Honrt Softenencd by the Kalghts’ Tribute to the Memory of a Groat Genorul and a Dovout Mane Ricusonp, Va. May 26.—Thoe Boston and Providence Commanderies, escorted by the Hichwond Knights, paraded this forenoon through tho principal streets of the eastern part of tho city, One of the most beautiful and touching Incidents connected with the presont pllarimaue, and which had been kept secret by those participating in it, oc- enrred before the parade, The Boston Con mandery ut an carly hour marchet from thelr quarters to the Capitol Square, and, forming around the statue of Stonewall Jackgon, stood with heads uncovered ond swords nt “present,” and, while thoir band played tho beautiful * Memorial Overture,” the Kuights iu the command moved forward and placed ut the baso of the monument a most beautiful wreuth of overgrecna and rare flowers. This tribute irom the brave Now Englandors to tho arent Confederate Ucuural, ooaure Ing, as It did, on Memorial-Day, was deoply affucting, and Tooved woine spectators to tuard, A teadiag Vir- glilun present remarked: * This will do morg to rostore compicte fraternity among. the pevplo of the North sud Routh thou all the piutrorins that politicians framo during tho prosout yo ar.’ The Commandery thea marched to tho Wasping- ton Monument, withls tho anise gronuds, and dou oruted It uiso with lowers. Tho muslo bore, while equully sppropriste, was fot do solugin us av Jucksan statuy. MMeworlal day nee ob- served with unusual ceremountes, inel the decoration of the graves of the Confederate doad at Hollywout Comotery. Rasloow wos generally susponded, thousands taking part in the aunual tribute to the fullch bravoa-of the Lost Causa, BIO0 Reward indteates ¢ RRC RETEST coe emteT in pg Patented July & ti, “Adjustment Tats tho patented. CGrer 3) yonre! axymriny ce Ment py Hamture, Manutncturer Hf'tio Count eq) caret Iilanuy Stackin Teatnt yay he Pea eS DAL 1M rai AS iMonday oxcopted. es hor tab, [twas presorved, and proves to Pon is = ed, Chiengo For Mapa,'Tinre-C only ato Clay Qilcd. Hatmer Hoy ko cornur of W. F Dua Moinon Suche #2 Blowx City Yankton Ni ‘roeport, Hockford & Dubumtie.. FOOpOrE, Hockford & Dubuaus, lain Express... Elgin Sunday Ke; o Hteaga, Turlington & ror Maps, ‘Timmo-Tabl i nUGY Clat ae tons, appl: Brink's lxprona nicer foot of Indiana-; i Contral Donut, Can arava Gras Genteat Danots Caval ond Sixtconthaty asl Leave, Ante, bOttawn & Streator Pi sara hi} 10 & Sloux C! 2 pamboy stock ValiseNtoriiin ba saa 4 i dato} ann & acitio Tigpresenne| 1 Betdosoph, aAtebison & tu ie akansas City & Denver # 1: Aurora Sunday Passongo: ght pros. agouthorn Pacific Express. eToxas I: eS dosnt FORM. 0 Ree 9. & Dubuque Rx} hi BF rao: Wed. & Bat Thentra Pentre Northwestern Ri . in ms. Heeping-Car ace At, Grand Paci Wee TaNAL-st, 1 Ktuaterain se de it Es A itty DERA TRAINS—EXPLAN 5 Stanne—tanturaay ete 3a eQulaey, Teattroaa PIURALRE Acco tte Grand Pacito ent tase ee, CURED, & PARK ARTUR 93 ‘ sta TERRA May, momadath Eecece aosase Syusesewsse ees BB8S39 BSSESSARSARESS SeUSUS Dally. > Dally, oxco Chicago, Alllwaukee & At. Unian Hey Mllwaukeo Fast Mall... auikes & Waukestin. Iwaukee, St. Paul d npolls Bxpross tral ruon Bi: poten Chien, luwa, and Dal Milwaukee, 3 du Chien Expross .. aye Mennahn, Exprose triinn ..., watiker, Madison, Praltio du} jer, 10 ‘Dakota Fi Livortyvilla Accommodat! De, nt: Corner Stadlson, ¢: Ticket Witees, Gh Clarkes, Palmer tose ae Pacitic Hutol, and av Depot. LS hunny. ¢ Da Baineiey. Daly oxceneNonaeyy © DAUR eee ior Toate, Gras pa Paul Ration Teave. | Amve, ‘am BaSSBHS BS Beaas. Svupess UU TRUST ‘Traine for 1aumboldt and North Chicago leayo 6: m.t aerive 8. m. and 6:9) p, daily, Sundays excepted. Chiengo d& Alton. Union Depat, West Hide, corner Madison and Cane Hog tear ML a Ai poeta Wi ‘ol eat. ‘Vickot eas, at Dex Glurkeac, Grand Pacitig Moth and Palmer House ats, by Kansas City, Denver, Pusblo Ex.| City,#anta F8, Now Arizona&Cullfornis Fast Ix ‘oxns. Kanans teu Bt Louts, Bpringfold & St, Louls, Springfield & ‘Te: Mobilo <'Now P at Put Pooria bx. vit Streator, Lacon, Washingt tin Jollvt € Dwight Accommodation, + MMtnols Central JEalirond, Depot foot of Liko-st, and toot of Twenty-aecond-sy Tekot OMicos, tcl, Handolphst., roar Clark, Grant Pacific Hutel, and Palmer Hous Bt Loula & Toxas Expross.... a Texas fnat Lind,, loans Fxpress., f. Low ire Bi nls. Cairo & New 01 oan: Dubuque Dubuque & Slo Mox-| riew Ta pre B & Bloux City Iexpross..( m2, and 615 pm mer House, Leavo, | Arita. FE Z BEBEBERER BHBB SeseeeRonebe Prrrtert ts b=On Saturday night to Ginna only. On Baturday night runs to Peoria only. Wabash, At. Lowle & Pacific Raltway. State and Twolfth-sts, All Btato-se ntworth: ‘Ticket O1 Paimor Louse, and Grand Pacific Hotel, J Htc, orth-ay. carapasd 83 Mouth Ciarkeat, ally excay Puliman Heo it Hund ic Hleoping-Cars from Louis, .Kansas City, and Poorin, Vartor 8) with ravelving chairs, Chien giining-Chatr Slooping-Cars No cl Kanuns Cl Be Lous oF Kanens City. Michtgan Conteut Ratlroad. ko-st. and foot of 'Twenty-second-te Manetet Hines, ft Clarieet, routheasy corner of Kal doiph, Grund Paeitle Tuto, wut at Palmer House. Trenve. | Arrive. gate Mall (ylo Main and Alt Lino) sso] Now Yurk & Uuston Bx. s Kpocial Now York Expr H Hniainagoo Accommntatio Auiantlo Exprosa (dully).. i Nant Expres sit Se TE tal tae ran 4 aGrand ‘itapt & Muskegon Bx.|t v:lp om a {sundays oxcopted. fPaliy. Saturdays ‘except a@¥unday’s loavo at 5:25 p.m Chicago, Hock Island d& Pacific Ratlroes, Depot, copnanof Van Burana aioe, Hand cite Hotol, and 79 Canal, cOrnor Grand Dovonport & Peoria Exp flute vast txpre Leavonwort! ““inily oxcent Sandayx Dally ex {Dally except Mondays, Lake Shore d:-Michigan Bouthera Ht! ? Van Wurenvst. tana Kori thin man Ite t depot ‘itwonty-second: freight office unidar née . Chica: ange of Day Cu! Col Arne. Teave. leazo to Sh ikon = ceitanatbal and aches Chicago i te EO ans! ts Palmer Hooley rir Madiso3. “Arrive N80, Pher a a rant Oirand Wracide travel aad lal Le Reeve (ae Lino)... Hea tea ne expres Ailantie Ne. Exprosa (a Fant Exprass Baltimore d& Ohlo- and Tullding and f Depots, Exposition onder. ‘Morning Rxpros: Fast Expire “Pally. *Gundazs oxcoptod. Kankakee Line. ts, font of Lake-st. nd 1004 v De) “‘PokotOmces at He! ckot Onicen 8 Coral Paciite Trott, and Depot (Expo Mirani Pacitio Htotel, and Dopos (eres = fo Mk af TwentT 24c? louse, et a mul Leave, Pacific Hotat, and Palmer Hou! —— ben | Cinctonatl, Indian Me Day Expross, po Nuube Yancose VT Ft. Way! Bape sor! Adams and ch Glark-st, at L 1 Palo Devote Mall $4, Exprots.., x Hxpress, sem as deeprate (daily) fast Ling. Itteburg, Cincsauat! Pitta sngionatl aad epot, corncr of Adatis DaRStot ‘OUntices at D papel Ciusheul, Grand Paciue & Day Express. Nigit Bepress (dai). Chicago & Peer Danvill Canal: louse, G ze = iinols allroad toute.), mn