The New York Herald Newspaper, February 18, 1868, Page 6

6 NEW YORK HERALD. BROADWAY AND ANN STREET. JAMES GORDON BENNETT, PROPRIETOR. AMUSEMENTS THIS EVENING, OLYMPIC THEATRE, Broadw: Faxcnon. NIBLO'S GABDEN, Broadway.—Tas Waite Faw. OMALLAOR'S THBATRE, Broadway aud Lith astree.— BROADWAY ERATE, Broadway.—P ar or Tas Patri- CoaTs—Famiy Jans. BOWERY THEATRE, Bowery.—Ovn Femate Aumrican Cousmm—Tne Comers NEW YORK THEATRE, apposite New York Hotel ETS Or New Yous. FRENCH THBATRE.—Las Invauivss par Mantage— Woopoocs's Lirrix Game, &c. BANVARD'S OPERA HOUSE AND MUSEUM, Broad- way and {0th i.—Ticker or Leave Man. NEW YORK gracus, Fourteenth street, —Granastics, EQUESIRIANISM, &C. THRATRE COMIQUF, 514 Broadway.—Haxcon Comni- wation Thourxe ano Miniatures Circus. KELLY & LEON’S MINSTRELS, 720 Broadway.—Soxaa, Dancas, Eccentaicrtizs, &¢.—Gnanv Dutcu “s.’ SAN FRANCISCO MINSTRELS, 85 Broad way.—Ermto- ian BNRRTAINMENTS, SINGING, DANCING AND BURLRSQUES, TONY PASTOR'S OPERA HOUSE. 21 Bowery.—Couio FocaLtsm, NxGO MINSTRELS, £0. BUTLER’S AMERICAN if anaes 412 Broadway.— Basuxt, Fancy, Pawromrux, &o. HOOLEY'S OPERA HOUSE, Brooklya,—Eraoriun MINSTRKLST, BALLADS AND BURLESQUES, NEW YORK MUSEUM OF ANATOMY, 618 Broadway.— ciewee AND Aur. os SHEET. New York, Tuesday, Febru ry aS. 1868. EUROPE. By special cabie telegrams, dated in Florence and Autwerp yesterday, we are informed that Admiral Far- ragut loft the Italian capital to visit Venice, ‘The petroleum fire among the shipping at Antwerp was subdued Saturday evening, The news report by the Atlantic cable is dated yes- torday evening, February 17, Count Bismarck ia seriously ill. ‘The Italian govern- ment will pay a portion of the Papal debt due by the Kingdom, Cabinet changes are said to be impending in France, Tho Derby Cabinet promises a Reform bill for Ireland, with other measures of improvement, but at the same time asks for a continued suspension of the Babeas corpus, A Dabdlim editor has been convicted of sedition. The British troops eontinue tnoir advance march in Abyssinia, The revolted chiofs are returning to allegi- ‘ance to Theodorus, Consola 924; 2 927% im London. Five-twentios 71% a 71% im London and 755 in Frankfort. Cotton very active, with an excited and buoyant mar- ket, middling uplands closing at 94d add Bread- stufla quiet, Provisions improved, By steamships at this port we nave our special Euro- Pean correspondence and newspaper mail report in interesting dotail of our cable despatches to the 7th of february. CONGRESS. In the Senate yesterday a memorial was presented trom German citizens pe jing for tho abolition of the Presidency a8 a copy of royalty and dangerous to the republic. A bill was reported from the Judiciary Com- mittee providing that @ majority vote shall hereafter decide elections under the reconstruction acts, and another was introduced declaring that the judicial Power does not embrace polttical questions, and that all courts shall be bound on such questions by the decision of political departments of the government. A bill was also reported from the Judiciary Commitiee providing that {t shall be lawful forthe President to rotura bills with bis objections to the secretary or clerk of either house after an adjournment. The case of Mr. ‘Thomas, of Maryland, was argued and laid over until to- day. Toe House bill relative to the proceeds of cap- tured and abandoned property was taken up, and pend- ing its discussion the Senate adjourned. In the House, under the Monday call of states, a bill to restore Alabama to representation was referred to the Commitiee on Keconsiruction, The Committee on For- eign Affairs was authorized to report back at any time the bili concerning American citizens abroad. The cou- sideration of the Diplomatic and Consular Appropriation Dill was resumed in Committee of the Whole. A long and interesting debate &nsned, and a caustic disoussion arose between Messrs. Butier and Brooks, in which the former accased Mr. Brooks of having been a Know Nothing, which Mr, Brooks vehemently denied, Certain amoudments in the bill were agreed to and it was passed. A motion was made to suspend the rules in order to put on Its passaze the resolution relative to American citizens abroad, but pending the question the House adjourned, THE CITY. In the Board of Councilmen yesterday communica- tions were received from Mayor Hoffman vetoing the resolutions for the paving of ceriain streets with the Nicolson pavement ou the grounds that ii is merely an experiment and ts more expensive and Joss durable than the Belgian pavement, and also vetoing the resolution Cor the opening of Kighty-third stroot to East river, Last evening @ grand ceiebration of the anniversary of the battle and capture of Fort Donelson was heid in the Cooper Institute under the auspices of the Contral Grant Club of this city, A band of music, the Union 9e Club and some stirring speeches wore the order of youterday alterucon @ resolution was adopted that the Corporation Counsel be directed to draft an act author. ting (ne city of Brooklyn to issue bonds to the amount 1 $50,000 for the use of the Fire Department of the Woatera District, and that the City Clerk forward the same (o the Legislature for passage. The boiler of the steam tug Jonn A. Wright exploded ‘udout twelve o'clock yesterday, opposite Woodruff & Hobison's wharf, Brooklyn One of the hands w re ported to have lost his life, The captain and pilot were badly injured. The wta! number of deaths in Brooklyn last week war 1A, Jo the United States District Court yesterday, Judge Biatonford presiding, the case of the Uoited States vs. a quantity of champagne, which bad beem set down for hearing, Was postponed on motion of counsel that a settioment of the case would foliow. The case of the United States against @ large quantity of sherry wine was then fixed for this morning. In the Court of General Sessious yesterday, before Hecorder Hackett, the Sharpley Kelly homicide ease was called up; but on application of counsel the hearing (0 (h6 case Was postponed to April next, ia which month @ day will be fixed for the trial, Phe (rial of Richard Casey for the murder of William Cornel! on the 4th of January last, on the corner of Bayard sireet and the Bowery, was commenced youter. day in tho Court of Oyer and Terminer. Evidence pointing directly at Casey as the murderer was taken and the case was adjourned till to-morrow, The stock market was strong and active yesterday. Government securities were sieady, Gold clored at M41. The market for beef cattle at the National Drove Yards yesterday was tolerably active, and prices were yo @ doo. per Ib, bigher, extra selling at 16) 20c, per Ib.; prime, i8e, a 190 ; frat quality, Iie. ee, Male to 004, 160. , and jor and ordinary, 12¢. « 35)0. The number on sale @t all the yaids was about 1,000 head, Mileh cows were in improved demand at previous prices, via: —$90 @ $110 for prime and extra, $00 © $85 for common and good, and $404 $50 for wfertor, Veal calves were moderately active, without change in vale, extra selling at 13),c., ordinary and prime, Ilo, @ 18e,, aod inferior, 9c. a).¢ Sheep and tambs—-Good stock was in fair demand and firm, while common was stow of sal at quite steady, We quote aboep. THe. a 8 small sold at 9, —- | prime, To w Te, aad iaforior to good, #0, a 6%e, NEW YORK HERALD, TUESDAY, FEBRUARY 18, 1868.—TRIPLE SHEET. jwine were again higher, fair to prime selling at 9c. & 90 per lb, Only eight car leads wereon sale, The total receipts for the week were 4,026 beeves, 86 milch cows, 582 veal calves, 23,301 sheep and lambs and 6,388 swine. MISCELLANEOUS. Our Panama letter is dated February 7. Advices from Bogota state that affairs were unusually tranquil. Gu- Merrez, £0 far, was beaten for the Presidency by Dr. Berrios, the candidate’ of the conservatives, News from Ecuador to the 20th ef January was to the effect thas Congress had assembled at Quito, Dr, Javier Espl- noza had been elected President of the republic. Miss | Lizzie Coggeshall, daugnter of the iste United States Muniater at Quito, died of yellow fever at Guayaquil on the 11th of January. Our Buenes Ayres letter is dated December 23, The cholera was raging throughout the city and country, and ® panic had seized the natives, Ninety persons died of the disease in the city im one day, acd the number of those leaving om account of it probably reached forty thousand. No new movements are reported from the seat of waron the Parana General Asboth was still Very ill. Our Lima, Peru, correspondence is dated January 28. Canseco had arrived and was received with grand de- monstrations of weleome, He immediately proceeded to organize bis government, but bad already caused. great dissatiataction among the people, The treasury was exhausted, the foreign relations were im an unsat- isfactory state amd considerable rivalry oxisted between the northern and southern sections. It is the duty of Canseco, under the constitution, to order an election for President, Vice President and Congress, The Japanese Tam Stonewall had arrived at Callao, Our Valparaiso, Chile, correspondence is dated Janu- ary 16. Congress had adjeurned, The fall of Prado, in Peru, had caused a profound sensation, as the treaty of alliance between the two countries would most probably be considered null and void. Prado arrived ‘At Copiapo on tho 18th, om board the United States steamer Nyack. The Dacotah and Powhatan were in port at Valparaiso, By the Atlantic cable we have nows from Paraguay to the 18th ult, Lopes had taken the offensive and bem- barded the Brazilian camp with considerable effect. In the Argentine Confederation tho State of Entrerios had Joined Rosario in a revolt against the government, Our correspondence from Sydney, New South Wales, is dated January 1, The young prince, Duke of Edin- burg, was still among the Victorians, During the feativi- ties on his account a ball room was destroyed by fire, and four young boys wore killed by an explosion of combustibles on board a miniature galatea, New Zealand and Victoria advices contain nothing of much interest, A tornado had passed over Melbourne and -blowa down the walls of anew town hall. A snow storm occurred at Hobart town in Tasmania, in the midst of a tropical summer, The mouth of the river Roper had been dis- covered by an exploring expedition on the north coast of Australia, Our special telegrams from Havana contain later in- telligence irom that city, Porto Rica and Hayti, More troops had arrived at Havana from Cadiz. Slight shocks of earthquake were again felt at Porto Rico. A railroad had been projected—the first in the island. The taxes wereso heavy that numerous sales of land and cattle had taken place. Ih Hayti Goneral Salomon was reputed to be m some favor among the Cacos, Busi- ness was improving. General Meade arrived at Tallahassee, Fla., yesterday, and urged the two factions of the Convention to reor- ganize, elect anew President and expunge all records wince the 2d inst, General Gillem has ordered the election for the ratifi- cation of the new con#itution in Arkansas to commence on the 16th of March, and to continue for five daya, In the Constitutional Convention yesterday the revised report on the Legislature was made a special order for ‘Tuesday and the report on the Judirry for Wednesday. ‘The article on Secretary of State, &c., was amended so that certain claims for damages growing out of repairs to canals shall not bo allowed unless preferred within two years after arising, and was then recommitted to the Revision Commitiee. The revised report on town and county officers was taken up, but without perfect- ing the article the Convention adjourned, The South Carolina Convention yesterday adopted a resolution asking Congress for the loan of one million Gollars to purchase homes for the homeless. ‘The Georgia Convention, it is expected, will be paid $15,000 to-day. Whe Democratic State Central Committee met in Aibany yeaterday and agreed upon the 11th of March an the day and Tweddle Hall, Albany, as the place for the holding of a State Convention to appoint delegates te the National Democratic Convention. A committee composed of a large number of goutiemen was appointed to proceed to Wasbington and urge the holding of the National Convention at New York. The Ohio Senate on the 13th ist. passed resolutions im favor of a repeal of the Congressional Reconstruction acts by a strict party vote, Important from Al ratio he Next Next Cougress. We have reports from A‘abamu that, after all, the total vote cast in the late election on the ratification of the new constitution will be up to the requirement of the law of Congress, which is that a majority of the one hundred and sixty-six thousand registered voters must participate in these reconstruction elections, or that they will go for nothing. It would be something very strange, indeed, if the radicals, having ali the machinery of these elections in their hands, could not contrive to make them all right. They have not failed in any of them 80 tar, although in most of these elections our first reports have pronounced them failures. Assuming, then, that this Alabama ralification election will foot up the necessary majority of registered voters at the polls, Alabama, we may next assume, will within a week or two be restored to her constitutional relations in and with the general governmett, with the acceptance of her new State constitution by Congress and with the admission of her dele- gestion (six white radicals) in the House of Representatives. The especially objectionable feature to the mass of the Alabams whites of this new State constitution is the article on the elective fran- chise, providing for political equality and for universal suffrage to males over twenty-one years of age, regardless of color, but except- ing (subject to the Legislature) those partici- pants in the late rebellion disfranchised by the constitutional amendment (article fourteen), and excepting permanently those guilty of unusual and barbarous practices against ma=—Southeru Kesto- Presidency and the Union soldiers and sailors, together with other criminals, and also idiots and lunatics, The great body of the whites object to this article, because it gives the ne- groes, in the popular voting majority, the con- trol of the State; but if the whites, who own all the lands and tactories, foundries, &., in the State, only choose to cultivate a proper under- standing with the blacks around them, they (the whites) may, withi ear or two, get the con- trol of the State completely into their own hands, with the African balance of power. General Wade Hampton's policy, which he se forcibly urged in the very beginning of this business of reconstruction in 1865, is the true policy for the Southern whites—the simple policy of making friends of the negroes instead of enemies. The cotton planters of Alabama, now that their “masterly inactivity” against this reconstruc tion programme of Congress hae availed them nothing, ought to proceed at once to win over the blacks to their side—s movement for which they possess every advantage. The reinstatement of Alabama in Congress | will doubtless hurry up the work in all the other States of the five military districis, so that, | before the 20th of May noxt (the day of the meeting at Chicago of the Republican Presi- dential Vonvention), it is possible that all the ten now excluded rebel States will be back again in Congress, and fully represented at Chi- cago by délegations including a liberal sprink- ling of aspiring Africans, Should these calcu- lations be fulfilled the question of Southern reconstruction will be settled before the formal opening of the Presidential contest, all the States will be in the Union and in the fight, and all discussions upon this plan, that plan and the other plan of Southern reconstruction will, for practical purposes, be at anend. A military force will doubtless be kept for some time longer in the newly reconstructed States, as in Tennessee, but subject, as in Tennessee, to the requisition of the State authorities and not lording it over them. But still this law of universal negro suffrage and of negro supremacy established by this Congress over the reconstructed rebel States will have its influence, from Maine to Califor- nia, in the elections of this year to the next Congress, Yielding the point on the Presiden- tial issue, the opposition elements may still vanquish the radicals in Congress. For in- stance, the returns of the town elections of this State, lately held and still in progress, indicate that the democratic majority of fifty thousand last fall on the State ticket is not yet shaken, even by the Syracuse republican nomi- nation of General Grant ; and ft is doubtless because the late reaction in the popular mind is fixed against the excesses of this radical Congress. The name of General Grant for tbe Presidency we believe will rally the Union army and the Union party of the war to his support; but still an independent battle may be fought for the next Congress which will secure @ conservative House of Representa- tives, even with the gain to the radicals—- which they will not get--of the whole fifty members from the reconstructed Southern States, On the money question the republicans have a difficult and perplexing problem to settle. itthey go with Senator Edmunds and that wing of the republican camp for gold to the bondholders and bank rags to the people, they lose the other wing, headed by Stevens, Butler and others, for the payment of the bondholders in greembacks when not otherwise specified in the bond. Ii the party in ita Chicago platform take either side it will be shorn of much of its strength in its struggle for Congress, and if it take neither side the opposition may fight it to advantage in every Congressional district a3 a party not to be trusted by either side. The great military achievements of General Grant will decide the issue in his case; but in the Congressional elections the great legislative questions of taxation, expenditures, the re- demption of the national debt, the bonds and the banks and the tariff, and the internal reve- nue system, will be applied as the test to every - candidate, tagether with the issues of negro suffrage and negro supremacy. all these questions, with any degree of skill and activity, the opposition elements may so far revolutionize the next Congress as to make Grant a conservative President, in deference to the controlling voice ot a conservative House ot Representatives. Surely, upon Revolution in China and Japan. Our grand budget of news from that west- ern shore of the Western Sea that we call the Eastern World, indicates three points that do not receive a proportionate share of notice. First is the progress of the revolution in Japan; second, the progress of the revolution in China; third, the departure from Hankow of a com- pany of bold adventurers who hope to follow up the course of the Yangtse Kiang river to the mountains of Chinese Tartary, in which the great river rises, and, crossing the mountains, to reach India and descend by the Brahmapoo- tra to the Bay of Bengal. ‘The events in Japan result trom the efforts ot the reactionary party—the nobles—to arrest the progressive development of the nation under the influence of foreigners and foreign commerce. The Daimios or local princes are not only conservative but reactionary ; they not only oppose further concessions to foreign trade, but they are jealous of the concessions already made aud would withdraw these, and might, perhaps, even go to the extreme of fall- ing back to the old traditional policy and in- duige their instincts by a slaughter of all the foreigners in the country, as was once before done. The Tycoon, it will be remembered, was driven from power sometime since and imme- diately after the last concession made to for- eign trade. Now the Mikado is in danger, and there is actual fighting in the streets of the capital between the government troops and those of the refractory princes; but the strug- gle between parties is now carried on with better angury for the success of the one with enlightened ideas, sustained, as it is, by the moral support of all the Western nations, and as it will be in its eventual effort by the im- mensely growing power of our trade in those seas, China seems to be ge'ting slong better in her contest with the rebels than for a long pe- riod before, as if her recent affiliation with foreign ideas had conveyed to her some effec- tive lessons as to the mode in which she might best assert her authority. Her appointment of Mr. Burlingame and his native attendants is significant of the growing liberality of her ideas and of her discrimination between foreign Powers. But the most important fact, perhaps, of the Chinese news is that permission has been accorded for the departure of the expe- dition up the Yangise Kiang. This vast river rises in Central Asia, in the home of the wild tribes that for scarcely oumbered centuries have been the enemies of Chinese civilization, drains the northern slope of the eastern ex- tremity of the Himalaya Mountains, and enter- ing the land of the Celestinls at its west ern border traverses the whole breadth of the empire and discharges itself into the Chinese Sea. To soil up this river is to pene- trate a country knowa to ns only through the vague fables of travels that ure half romances ; and from this expedition, it it go through and get out by India, as it proposer, geographical science may date its lirst positive kmowledge of the most interesting country known to us even by name. Amerioan activity is the energetic influence that is effecting all these great changos in that part of the world; and our influence in China dates trom the building up of the active gnter- course with that nation which resulted from our establishment on the Pacific in California. China is becoming ® commercial dependency of the United States. Her vast productivencss in the richest staples of the earth is being made tributary to our wealthis to make New York eventually the great mart, aot only of Ameritan staples, but of the great staples of Eastern Asia also; for with » rogular line of steamers across the Pacific and the Pacific Railroad running from San Francisco to New York, British and French merchants must buy their Chinese goods in this city. Nay, it cannot yet be deter- mined but Chinese emigration, settling on the great plains along the line of the Pacific Railroad, and cultivating those riverless dis- tricts on the great system of irrigation that fer- tilizes China, may make our own domain fruit- ful in products hitherto deemed peculiarly Chinese, But this is, of course, only @ remoter possi- bility. It is a great fact that we are moving in the lino to monopolize the trade of Eastern Asia, and that this great development is due to the possession of the State of California. California was acquired in defiance of the party governed by the same ideas of national progress asthe party that rules the country now—the party opposed to all extension of the area of freedom—equally opposed to the acquisition of Texas or Alaska. This is the party that will keep ten States of the Union under the heel of the negro, but will not have Cuba, nor the West Indies, nor the vast Pacific coast of Russian America, though each of these acquisitions may eventually be as advan- tageous to our national power and position as the possession of California now proves. It is a party of “great moral ideas,” but very small political ones, Currency and Specie—A Sound Monetary System Want ed, It is evident now from the movements of Western politicians and from the tone of the Western press that questions pertaining to the national finances and currency will have con- siderable influence in the approaching Presi- dential campaign throughout the West, We say Presidential campaign, but perhaps it would be more correct to say political cam- paign, because these questions will be brought out more prominently in the election of Con- gressmen than in that for the President, though they will enter into the Presidential contest to some extent, While-the main issue will be upon the radical Congressional reconstruction and negro policy, other issues with regard to the finances and currency will have an im- portant bearing on the contest. The interests and necessities of communities govern them in their financial policy as far as they understand the difficult subject of national finance. Hence we see a large ma- jority of the Western people of all parties in favor of a liberal and expanded currency, and the Eastern people for the most part in favor of contraction and forcing specie payments. The people of the West are poor, comparatively—that is, they have little realized or accumulated capital, and they require an abundant currency and easy money market to develop the resources of their seo- tion of the country and to aid them in nume- rous enterprises. Besides, being largely in- debted to the capitalists of the East, a contrac- tion of the currency would increase the weight of their debts and throw a great many of them into bankruptcy. It is easy to see, theretore, why they are opposed to contraction, and why they demand an ample currency. In the East, on the other hand, the people have a great deal of realized or accumulated capital and are large holders of government bonds. A contraction of the currency and forcing specie payments would increase their wealth, would add to the value of their bonds, and, Shylock like, would enable them to put the screws to their debtors. It would increase the wealth of the rich and the poverty of the poor. Herein lies the real motive for the difference of views and policy in the two sections of the republic. Under these conflicting opinions and interests, and looking to the general welfare only, the question arises, what should the eee do? What is the duty of Congress with | regard {to contraction or expansion of the currency? Undoubtedly the wisest course is to let the currency alone. By neither con- tracting nor expanding all existing values will remain undisturbed, all debtors will be able to pay their obligations in the same substantial as well as nominal amount in which they were contracted, and creditors will not be unduly enriched atthe expense and to the ruin of their debtors. This just measure tor measure would be carried out both between individual creditors and debtors and between the bond- holders and the public. And what more just? Why should we disturb existing values and obligations by contracting the currency and forcing specie payments? What we want is a sound monetary system adapted to our own pecular circumstances—a system both simple and natural, which will give stability and promote the industrial in- terests of the country. The currency, as we said, should be left as it is—that is to say, in the amount, or volume, in circulation—though it would be better to make ita uniform legal tender currency. Congress should pasa an act legalizing contracts for specie payments for those who choose to make them, and to author ize the Treasury to pay specie to all its cred- itors wha wish to be so paid at the market “value of gold at the time of payment. For example, say the government is indebted to an individual fourteen hundred dollars and he wants payment when gold is at a hundred and forty, let him take @ thousand in gold or four- teen hundred in legal tenders as he may choose. So in the same way, when gold is a hundred and thirty or a hundred and ten, let him take gold always at its market value. The legal tender would be in all cases the lawful money, as ite name indicates, and the relative value of gold with that might fluctuate according to the supply from the gold fields or the demand from abroad. There would be a sort of sliding scale between the two, and they would adjust themselves according to circumstances, while ‘ all values of property and in trade would re- main undisturbed. This would be immediate specie payments in a certain form and in the only form in which it is practicable or may be desirable at present. It would have a tendency to bring about, in the course of time, the equal. ization of paper and gold. The difficulty in the way of coming to such # sound monetary system is that our financiers, capitalists and public men are wedded to tho old British bullionist theory. They seem in- capable of thinking for themselves or of divest- ing their minds of preconceived ideas. They must imitate England. The Bank ot England is, in their opinion, the perfection of a groat moneyed institution, Well, what has the bul- lionist theory done for Engiand? And does the system of the Bank of Baglend benoit any- body except its rich proprietors and stock- holders and the great capitslists? The mil- lions of starving people and the poverty into which all the classes are steeped in Great Britain, while the country is immensely wealthy, show there is something radically and frightfully wrong in its financial system. It has been making the few rich, very rich, and the masses very poor all along. It concen- trates all the wealth in » few hands and leaves the mass of the population in abject poverty. The foundation of this frightful state of things was laid by the bullionists—the on-to-specie payment theorists—after the Napoleonic wars were ended, and it has been perpetuated by the iron rule of tho Bank of England. It has burdened England with an enormous debt which can never be paid. The monetary sys- tem of that country being based on this bul- lionist idea—on specie alone—the Bank of England exercises absolute control over the trade and industry of the country. Nor does this system secure stability. It is well known that every few years terrible revulsions occur in England. In fact, they are almost as regu- lar every ten years or so as the seasons. After reducing the masses of the people to the low- eat depths of poverty the system has not even the redeeming quality of giving stability to trade and values, When the country is in most need of relief, as in time of a crisis, the Bank of England puts on the screws, or, in other words, contracts, and plunges the busi- ness community into bankruptcy and the work- ing classes into starvation. A few millions sterling controlled by the bank will affect the value of hundreds of millions of property and the interests of the whole community. Yet this is the state of things our stupid so-called financiers would follow. Let us rather avoid the ruinous financial policy of England and adopt one suited to our own institutions and circumstances. The Press and the Telegraph—Which Shall Rulet The present troubles of the Western Union Telegraph Company are mainly attributable to the incompetent management of the board of directors, or executive commitiee. Starting upon the absurd idea that the telegraph, in- stead of being the agent of the press, could make itself its master, they have endeavored gradually to take into their own hands the collection and control of news, and by this means have thought to compel the newspapers of the whole country to comply with any terms they might impose and to submit to any dic- tation they might see proper to assume over the business affairs of the press. Thus, while the large daily journals have been the most Profitable customers the telegraph has had, the management of the Western Union has sought to place all manner of restrictions upon them, and has displayed an arrogance and independ- ence of manner at once unwarrantable and offensive. Towards the papers of more limited influence the company has been yet more arbitrary and unjust, and the prevailing sentiment of the press outside of New York is apprehension of new encroachments on the part of the Western Union, and an earnest de- sire, for their own protection, to encourage the construction of competing lines. This feeling was evinced at a recent convention of the edi- tors of Western journals, held in Cincinnati, by the unanimous adoption of a resolution in the following language : “ Resolved, That we are pleased to know that the telegraphic facili- ties are being largely increased by the con- struction of new and competing lines ; that it is the interest of the public and the press to encourage competition in this business; and, while we shall not be partisans of any com pany, we shall deem it our privilege to distribute our patronage in accordance with correct busi- ness principles—patronizing those who offer the best facilities.” It is precisely this point that is at issue between the proprietors of the press and the managers of the Western Union ‘Yele- graph. The former hold it to be their right, as it is the right of every individual doing busi- ness over the wires, to distribute their patronage as they may see fit, and to patronize the lines that offer the best facilities, The latter assume to prohibit the journals that do business over the Western Union from using any other line, and endeavor to dictate other terms to them equally absurd and unwarrantable. But the press is not alone interested iu this new phase of telegraphic management. By converting itself into a news agency, selling commercial and other intelligence and making all the operators along its lines the collectors and pedlers of news items, the Western Union renders the messages of private individuals and business men insecure and destroys the confidence that is so essential’a feature of the telegraph. Any stockholder of ordinary in- telligence can understand the ruinous effect of such @ policy. If persisted in it will drive the leading newspapers of the country into the con- straction of a line for their own use, and will deter commercial men and private citizens from entrusting any intelligence of import ance to the mercy of the wires. It will be well for the stockholders of the Western Union to bear these facts in mind. They have the remedy in their own hands, The present executive committee, who own less than five hundred shares among them out of the forty-one million stock of the company, have a very small interest at stake in compari- sou with the heavy holders in this city alone. They can afford to quarrel with their best cus- tomer and to knock down the business and the stock in order to gratify their own whims, or to obstinately persist in their own mistaken and shortsighted policy. But what may be a satisfaction to them, even If indulged at a loss, is ruinous to the large body of the stock- holders, and the sooner the latter take hold of the affairs of the company and make an entire change in jis management the better. They should at once turn ont their present incompe- tent and blundering executive committee and fill their places with men who will confine themselves to the legitimate business of tele- graphing, leave the collection of news in the hands to which it properly belongs, content themselves with sending press messages and al) other messages at fair rates over their wires, and trust to their facilities, industry ‘and re- liability to secure @ profitable business for their line despite competition. Let them do this and they may yet save their property from destruction. Camet Cuanans.—We hear from republican organs intimations that there is great pressure on the President to make uch changes in his Cabinet as will give it #, democratic character. The point of this statement is, perhaps, to fur- nish the basis for some new radical hue and ory against the President, as the country aow sufficiently understands that of all persons be is the one who can least be coo for the character of his Cabinet. Doubtless but one of the present members of the Cabinet would have sufficient self-respect to resign If it were understood that the President desired it; but he cannot supply their places in ao- cordance with his own will. The Rev. Mr. Tymg and the Canone—An Episcepal Meuse and Its Mountain. Horace, a shrewd old satirist in his way, was never more happy than in bis remark, made on « certain occasion, concerning the exceeding utility of stupidity. “Dulce est desipere in loco” run the exact words of the rhyming humorist, which in very common English, enounce the general principle that it is @ capital thing to make a fool of one’s self occasionally—an aphorism which is just now being illustrated in New York by a rather peculiar trial, conducted by rather peculiar people, with a ratber peculiar culprit in the dock, accused of rather peculiar behavior. The reason of the whole matter is that the Rev. Stephen H. Tyng, Jr., has violated the canons— First, in speaking when he ought not to have done—that is, without leave of the parish authorities; and, secondly, where he ougbt not to have done—viz., in a house without a bishop. Now, there are canons—clergymen cannot be kept in the traces without canons, as the history of the world has long since demonstrated—and canons must be obeyed, no matter how absurd, for an ecclesiastical body without canons would be simply like Tammany Hali without by-laws—an organiza- tion in which nobody would be amenable to anything except his own fallible convictions. Fallible convictions, we say, and so say the judges, for it has long since been proved that man is a fallible animal, quite liable to break loose from all canons unless properly limited by the code of penances and penalties. It may be shrewdly suspected, however, that Mr. Tyng has had profound reasons for forget- ting the canons. Men will be original some- times, and will behave in an exceedingly origi- nal manner, and the behavior is not, of course, to be attributed to any seeking for notoriety on their part, but to the intense originality that is in them, and, like Sterne’s starling or murder, must and will out. Origt- nality must be expressed, and if a clergyman is original in his way he cannot be expected to gulp down his originality, unexpressed, just out of obedience to the canons, which are not intended for original people at all. There are other ways of being original, to be sure. Some people gnaw their finger nails; some suck their thumbs, some turn the whites of their eyes out- ward by way of expressing their originality, and all these are very harmless ways of doing the thing according to canon. Mr. Tyng could not submit to these quiet ways ; besides, neither of them was exactly genteel, and hence Mr. Tyng disregarded the canons, and was original at the expense of notoriety, though not. for notoriety’s sake ; for, lest we might be misap- prehended, we hereby declare and make affi- davit that, to the best of our knowledge and belief, the culprit on trial never had any ink- ling for popularity. Than to make noise in the world nothing was further from his intena- tions. He was simply original, and could no more help breaking the canons than a poet can help writing doggerel ; and this we say out of pure regard for Mr. Tyng’s exceeding origi- nality. The confréres of the clerical unfortunate— jealous fellows, without a particle of that originality which travails to express itself— thought otherwise, however, and have, there- fore, called the gentleman to account for those eccentricities, which are only the eccentricitios of an individual painfully overburdened with genius. Accordingly, they sit in council upon his bebavior, while all the world Imughs and tips the wink to the unfortunate, and sniffles in his delighted ears that to be decapitated for violation of the canons is more honorable than to fall in defence of one’s country. The world is fond of heroism ; it adores martyrs ; it hates canons ; it has a passion for egotism, which is originality, and has some sort of respect for the ghastly and cynical egotism of Nero, who fiddled over the flames of the Roman capital. Ithas a hiking also for original people whe break the canons, and hence it smiles on Mr. Tyng, while Mr. Tyng smirks and bows in return. ' Now, with all respect to these reverend judges or jurors, they are all wrong, They have no comprehension either of the spirit of the age, which abides no canons, or of Mr. Tyng’s originality, which defies all reduction to canonical formule. As well might the fixed stars seek to sit in judgment upon the pranks of a comet; as well might Professor Loomis attempt to call the meteors to account for vio- lating his very carefully compiled astronomi- cal treatises. Comets, meteors and original people will shoot out of their orbits ; and to sit in judgment thereupon is simply to illustrate the aphorism of Horace, viz :—“ It is a capital thing to make a fool of one’s self occasionally.’” A molebill is not a mountain, though a dis- eased visual organ may so magnify it, and canons are neither religion nor an essential part of it. Waere To Apvertiss.—One of the. many evidences which almost every day produces of the best medium for advertising may be found in the following fact:—A gentleman who wanted to obtain board in a first class house for himself and family advertised his wants the other day in four city papers— the Herat, Times, Tribune and our copperhead contemporary. The result was that he received answers to his inquiry in the following propor-. tion:— Hewat. ‘The atiention paid the publio was, therefore, in the ‘Meo al three hundred and seventy (who responded to his requirement in the columns of the Huratp) to thirty-three (who took any notice of it in the other three papers put together) Any com- ment upon this fact would of course be wholly unnecessary. It only shows where to adver- tise if advertising ia to produce its legitimate fruits, News rrow Tae Wast Ieypra Istanns.—' fall budget of telegraphic aews which we lished on Sunday morning from Jamaioa, ftom Cuba, from St. Kit‘, from Hayti, from the Bar- badoes, from Triaidad and Tabago shows. into what intimate relations with the United States all the Wees India Islands are being rapidly brought by (ho agonoy of the tolographic