The New York Herald Newspaper, August 17, 1868, Page 4

4 NEW YORK HERALD BROADWAY AND ANN STREET. JAMES GORDON BENNETT, PROPRIETOR. No. 230 MENTS THIS EVENIN: BROADWAY THEATRE, Broadway.—Taoppey Down NEW YORK THBATRE, opposite New York Hotel,— Foun Pyay. ‘NIBLO'S GARDEN.—Bause Buyer. BOWERY THEATRE, Bowery.—Tm MARSEIULES-IKED G¥OME AND WHITE Wanton OLYMPIC THEATRE, Broadway.—Humrrr Dumpty. WALLACK’S THEATRE, 3 — wae Broadway and 1%:h street. BRYANTS’ OPERA HOUSE, Tammany Building, 14th sireet.—ETLIOVIAN MINSTRELSY, £0. TONY PASTOR'S OPERA HOUSE 201 Bowery.—Couro Vooa.ism, NEG30 MINSTRELSY, &c. THEATRE COMIQUR, 514 Broadway.—Eriuiortan Eo- cENTRIOIIEG, COWL VOOALISM, CENTRAL PARK GARDE GaupEN Concert. POPULAR MRS. F, B. CON 3, Brooklyn. KELLY & Lion's e. HOOLEY'S OPTRA HO —Hoorey’s | Brookly B MINSTRELS—A Siuanar ROOKLYN, NEW YORK MUSEUM OF ANATOMY, 613 Broadway.— ENCE AND A New York, Monduy, August 7, 1868. The Presidency=Seymour «nd Pierce. Seymour will be a repetition of poor Pierce, and the history of the present campaign will reflect many points in the campaign of 1852. Pierce was a sort of political panacea, Anti- slavery agitation had gone very fur, the na- tion was uneasy in considering what fruit that agitation might bear, and the common sense of the country was unanimous that the fanatics must be put down as the first condition of tranquillity. Pursuing that thought, the demo- crats would not trust themselves to the best brain in their party, because its owner seemed to yield to the influence of the common ten- dency of Northern thinkers against the peculiar institution. In their anxiety to have a sound conservative they were content that he should be a dummy, and so it was that poor Pierce was put up. The whole country took the democracy at its word, in the common hope for quiet, and Pierce was chosen. He recognized the idea that gave him his place when in his inaugural he hoped that ‘no sectional, fanati- cal or ambitions excitement might again threaten the durability of our institutions.” But poor Piorce and the country had different ideas of political poace. People wanted a peace that held the balance justly between ex- tremes; but Pierce and the engineers who ran him wanted a peace that repressed Northern nd gave a free field to the slave lavory then, of its own volition, ‘on it had so tearfully thus gave the impulse that ; SEB NSW'S. JAPAN AND CHINA. from Saa Fr By telegra of the arrr janded a n one hund an had been taken to ki in deflance of a pr natives of drowned nea the foreign © Severe {tes had been fonght between the con- tending forces in Japan, with varying resuits, Half of the city of Je been burned. It wish to refer al! mat land, France and t ment, A new port had been 9 west of Japan, MISCELLANEOUS. Thore were no cable despatche: night. By mail we have our spec! giving interesting details of our c: the Ist of August. We have telegraphic advices from Y the 13th and Mexico city to the loth had arrived at the capital and had ri “ ‘Treasury. A reinforce had refused | t @union licy Of courting European alllances | ‘The colony of many tors. has rel militia in the order was giv eral Grant | r, but he has 1 and the Pr i of the fact. instru immediately to ( were arrested on fa $200 to ansy Two office: conveying a er to the sta } day night when they were set up aud their prisoner An bour after the same oMcers arr ringleader of (ie gang and were again assauited, but being reinforced made good the captive. The two officers who reinforced them, however, were seriously injured. Preare, the prisouer, was held in $1,000 bati, An attack on the police was also made by rowdles in Brooklyn, The roughs are s to have declared that they would cle police before November, and, with these and bloodier asshults co ago, it seems probable Umut they are at least trying it on. The Chinese Embassy are sttilat Niagara Fails. Mr. Burlingame has gone to Clicago to visit his father. The rest of the Embassy visited BuMalo oo Saturday and were met by a deputation, cordially welcomed and shown around the city. Sun Tajen, while at Tonawanda peering around a rickety old ‘wharf, fell through into deep water. He was rescued, however. An Office seeker in Washington, being disap- pointed, stabbed himself fourteen times and cut his throat once on Saturday for the purpose of commit ting suicide, He was again disappoinied, however, for he still lives and Is likely to recover. The yacht squadron left Newport on Saturday for Holmes’ Hole, and will sail for New Bedford on Mon- day. On Tuesday the face for the prize offered by the Vice Commodore will take place, Further advices from Austratasia state that the Queen's birihday was kept a8 a puolic holiday ia the colonies, with grand reviews, levees, races and the usual amount of other amusements, Gold had been discovered near Warwick, Queensland. Further particulars of the collision on Lake Haron between the ship Dunderberg and the steamer Em- pire State go to show that the fate of the Dunder berg is yet unknown. The pire State had arrived At Detrott but siightly damaged, and her officers re- port that the blow received by the Dunderberg was @ very alight one, and when last seen by them she Was still afoat. Mrs. Wilcox, the wife of one of the owners of the Dunderberg, was on board at the time, aud is supposed to have been drowned. Right Rev. Thomas A. Becker and 1 James Gibbons were consecrated bis f the Re man Catholic Church at Baltimore yesterday \ imposing ceremonies, Archbishop Spaulding ciated. Mrs. Trumbull, wife of Senator Trumbull of ili nois, died in Washington 5 4 ‘The funeral of Sewall Fisk, a high official of the Order of Freemasons of this State, took place from St. Ann's church, in Eighteenth street, yesterday, with grand Masonic demonstrations. | Rev. Stephen H. Tyng, Jr, and three other | clergymen with city congregations preached open air sermons in various parts of the city yesterday, generally to well behaved and decorous audiences, Later accounts of the railroad collision near Rouse- ville, Pa., show that flve men were killed and twelve or fifteen wounded. They were all iaborers on board ® construction train. Among the crowd who went down to Coney Island tn the steamer yesterday, not altogether for pleasnre, were Inspector Folk and about thirty policemen. An intensely dull day was the result among the numerous thieves and sharpere, but no arrests were made. Inspector Folk and his old enemy Jess Allen came together again, but parted with a few hard words. Professor Watson, of the Obserratory at Detroi Mich., reports having discovered an entirely new planet, never exhibited before. This ts the second one discovered by Michigan astronomers within the last two months. A party of masked horsemen attacked and robbed ght Rev. | 1 | the ‘as It demanded the repeal of inst slavery, known as Tho nation m against A nce to no better purpose ation that the nation could efal means. And in all sonly the tool of the Southern d the nation in the st by pretending that they he let alone. ord the democracy urbed condition and is that its most earnest desire is to of the people by restoring of civil goverament in the whole people again seem disposed to ations as sincere and to trust of ng the laws. the campaign puts on the old appearance, and we see in the threats of democratic leaders—in the words, the uments, the very they use—the danger looming ia tho that they construe peace always in vor of the South, always in the sease that Southern men may choose to give it. In the inistration of Pierce they reopened the contest by destroying a compact that had settled the dispute in former years. In the nistration of Seymour—if it is his fate to one—the democracy will reopen the of the war by the attempt to erase from what the North has written down as our | the fundamental condition of settlement. We do not mean the reconstruction laws; they are but the waste rhetoric of radical rage. The people have given them up and will be ent to see them formally set aside, as practically they always must be in any attempt South honestly and justly, The t no pledges that Southern men never vote this way or that way. Exrnest demands a ridiculous or im- antee, th, with its history, iis de- bloody fields and impoverished cities, satisfied thet the war is the best guarantee against war—content to believe that if we cannot trust ten States in sacred promises there is no remedy. For the Congressional enactments of the radical réz the people care not, The democrats sweep them awoy and wel- come. But it is otherwise with what the war has written in the constitution, The edicts by which slavery has been abolished and the suffrage placed on a just basis have received ntof the whole people, and must stand, But to the Southern leaders these are analo- gous to or worse than the compact by which a limit was fixed to slavery. They fret equally against these enactments and murmur their dissa on more or less distinctly. Democracy, that raises its voice in the South now and demands the nullification of all the laws in regard to the Sonth but these—and murmurs at these—will go furthor when it is no longer a suppliant for popular favor, but sees in the White House a President who is not only its own choice but its own creature, Then it will go so much further that we shall have an opportunity to see whether it is possible to revive Southera slavery in tho absence of laws forbidding it. Southern aggression will stop at nothing less, and Seymour will be its tool, as Pierce was. Our future under the democracy lies in that direction. to govern th people Mors Anovr tire Ixpians.—We hear of further troubles from roving bands of Indians in Kansas. The scene of the last rumor is the vicinity of Solomon and Asher crecks, on the Kansas branch of the Pacific Railroad, where Indians have never been troublesome before, Wo receive all these reports, however, with caution, so many of them being not only groatly exaggerated, but wholly untrue. It is remarkable, too, that the reports of Indian atrocities said to occur in Kansas always originate in some city in Missouri, such as St. Louis, Hannibal, St. Joseph or Kansas City (which is not im Kansas at all), for example, from which latter place the last report comes. If more discretion were given to the military officers on tho fronticr | the Indians would soon cease to molest the settlers, long as officers in command of the posts permitted to do nothing but con ciliate the savages the latter will take advan- tage of the licease, moaeLine.—We are not se that Dr. Swinburne had any criminal knowledge of the recently dis- covered smuggling operations in the Quaran- tine establi Ie has probably only un- ‘d hie power and authority to shonest operations of certain old shysters who irts of the radical party, The the store of a Jew in Franklin, Tenn., on Saturday n ght, aud killed the Jew and a negro clerk. Many | people were In the strerts at the time and attemotet GD inter 4 ton democrats will use the disclosures that have Just been made st their opponents In the unless Governor Fenton comin, canvass The people are willing | tae des [den upon the profita NEW YORK HERALD, MONDAY, AUGUST 17, 1868., The ‘Telegraph Bu Weetern Union Monopoly. There is no more profitable business, pro- perly managed, than that of an electric tele- graph company. Tho honest cost of construc- tion of a line, with the best posta, wire and equipments, is, at a liberal estimate, two hua- dred and fifty dollars a mile, Calling the working expenses, interest upon investment and depreciation altogether forty per cent of the gross receipis, and taking as a basis of calculation the business now done by the Western Union, a line of that capacity would yield a net dividend upon the capital stock of twenty to thirty per cent, Yet inthe face of those facts we find the stock of a company that has swallowed up nearly all opposition and that enjoys a monopoly to moat points in the United States selling at thirty per cent on the dollar, in depreciated paper, which makes its actual value about twenty-one, and paying a dividend of two per cent per annum when it pays any at all, At the samo time we flad also that the rates of telegraphing are raised to so exorbi- tantan amount that the massos of the people are excluded from the use of this now indis- pensable mode of communication, which, in- stead of being s great public benefit, has bo- come an instrument of undue power in the hands of capital, The reason of theso evils is obvious, The Western Union Telegraph line, which now nearly monopolizes the businoss, is neither honestly constructed nor honestly managed. It is fraud and a swindle upon its face, It pur- ports to have a capital of forty million dollars ; | but the capital has been swelled to nearly four its legitimate amount by watering the stock and buying up competing lines at four and five times their value and fictitious lines that had no existence at all, This policy has been the work of the inside ring of mana- gers, who have thus robbed the numerous small stockholders and original investors in the seve- ral consolidated lines and put, the money into their own pockets. The actnal value of all the lines and assets of the company represented by this bogus enpital of forty millions is, in fact, less than thirteen million dollars. The men who have by such sharp practice turned the United States lines consolidation, the fornia lines purchase, the Russo-American cable bubble and other dishonest jobs to their own profit commit still farther depredations upon the stockholders in the practical manage- ment of the business. They make the working expenses, independent of interest and deprecia- tion, reach over sixty per cent of the gross re- ceipts, and thus swallow up all the profits of the company or leave a paltry dividend of two per cent only to be distributed among the stockholders. Every person conversant with the business of telegraphing knows that no such amount can be honesily expended, and that fifly per cent of the working expenses is a cor- ruption fund divided up among the ring and its friends, In order to retain their hold on these dis- honest gains the Western Union managers are necessitated to preserve a monopoly of the telegraphing busin They must crush out all opposition to enable them to keep up the present enormous tariff, and, above all, they must get the press in their power to prevent the newspapers from encouraging the construc- tion of competing lines and aiding thom by their valuable patronage, Thoy seck, there- fore, to control the whole business of collect- ing and distributing news, so as to render the duily journals dependent upon the company and its agents for all telegraphic intelligence. They have another object in this. If they can insure themselves against the publication of any market aud commercial news in the daily papers except that which they supply they can then delay or improperly use the private mes- sages of individuals and sell the news in advance to favored customers who are willing to pay liberally for il, or trade upon it in some other way for their own emolument. This naturally brings the line into disrepute with merchants avd commercial men, as the recent protests of members of the Boards of Trade in Chicago and other cities against the swindling operations of the telegraph people in tamper- ing with their private messages will satisfac- torily show. The latest effort of the Western Union ring in the direction of a news monopoly is the combination it has recently made with the Health Officer and employer of the detected smugglers of Quarantine to secure exclusive control of marine intelligence in the port of New York and to interfure with the legitimate business of the press. We have waited and the merchants of the country have waited patiently in the expecta- tion that the stockholders of the Western Union Telegraph Company would take the reforma- tion of its affairs into their own hands, turn out of office the men who have been impli- cated in all these corrupt operations and restore honesty in the management and prosperity to the business of the line, But it appears by the recent election that the “ring” is too powerful in dishonest combinations to be dis- turbed. The people must, therefore, take the remedy into their own hands, The spirit of the age is resolutely opposed to monopolies of all kinds, and especially in a business that is 80 nearly connected with the public welfare and that ina great degree interferes with the revenues of a government department. Eng- land has recognized the fact that telegraphing must be considered as a legitimate branch of the postal system, and has determined to place all the lines in the hands of the government, 80 ag to insure to the people what we so much lack in this country—reliability, secrecy and low tariffs in the transmission of messages. Pro- bably this would be the best course to pursue here; but as this must be a work of time our citizens, and especially our merchants, ship- pers and commercial men generally, should at once apply themselves to the encouragement of opposition lines all over the United States. As a profitable investment no better enterprise offers itself to the capitalist. A line honestly constructed, of the same capacity as the Western Union and getting only one-fourth of its business, would yield a clear profit of fifteen to tweuly per cent upon the outlay, after pay- ment of all expenses, including interest on the capital, reconstruction and depreciation. But a new line would havo the advantage of touching only paying points, and avoiding offices which are an incumbrance and expense to the Western Union Company—offices that do not pay thoir expenses and become a bur- rived from other sources. of the S cacti tha | newest improvements in wire and instruments, and would thus be more roliable and capable of doing more busiacsa than the Western Union, with ita old, worn out wires, its rotten posts and its used up insulators and instruments. There are already in operation some competing linea, and com- panies have been formed and are working actively for the construction of opposition lines all over the United States, All these should receive liberal encouragement—for they promise a great success under proper management—and every business man in the community is interested in seouring a reduction of telegraph rates and in putting a stop to the frauds and ras- calities of the existing monopoly. So far as the press is concerned it can take care of itself, and will do so in its own good timo, The wealth and influence of the leading journals of the country are sufficient to enable them at any moment to build independent lines of their own to the principal points in the United States, and to work thom for their own business. It needs only an experiment of this kind to con- vince the whole press of its immense advan- tages, and such an experiment may shortly be made. The small intriguing politicians who at present control the affairs of the Western Union, have neither brains nor honesty, and they will soon find that they cannot impose upon the public or undertake to dictate to the press without exciting an opposition that will speedily sweep their rotten concern out of existence, The Gold Question, The course of gold is being very ationtively watched just now by the public at largoiand vague fears prevail that the premium nie¥ go muck higher under the political excitement attending the Presidential campaign, and unfor- tunately these are not without good reasons. There are financial and commercial causes at work which will of themselves advance the price of gold; but political influences entirely culweigh these. It is bad enough to find that we have exported from this port to foreign ports since the beginning of the year more than sixty-two millions of specie and bullion, and that the government has a reserve of only about fifty millions of coin at the present time, while its coin interest payments in September. will amount to five millions, in November to twenty-five millions and in January to thirty-three millions; but it is far worse when we find prominent politi- cians of both parties making speeches and writing letters which are directly calcu- lated to impair confidence in everything but gold. Popular distrust of the future financial policy of the government is the main cause of the upward tendency of the premium, and so long as this lasts it will rise higher from month to month, The speculators have much loss to do with tho advance of the last sixty days in gold than is generally supposed. They may exaggerate offects and run the price up sud- denly, as they did the other day when it touched 150; but their influence is only transient, for a reaction soon succeeds, follow- ing which, however, gold obeys its natural tendency upward, despite the efforts of many of them to keep it down. Added to the widespread but vague distrust referred to we have to face the fact that our foreign imports are and have been since the beginning of the late war far in excess of our exports, and our national extravagance of itself exposes us to serious danger. Political con- siderations, however, entirely outweigh those of a more material character, and the majority of gold speculators, in operating for a rise, aro merely anticipating a natural movement which would be felt with or without speculation, and to be successful it must be based upon some. thing more substantial than Gold Room opinion. The abundant harvest with which we are promised is the only good sign of the times that we can see, but its influence is lost in the presence of the disturbing causes to which we have alluded, and as the campaign progresses we shall doubtless wit- ness much more calculated to gratify the bulls in gold than we have yet done, But for the wretched mismanagement of the finances by Congress and the Treasury Department during and since the war the gold premium would have been much lower than it is and we should have been in a position to resume specie pay- ments, whereas the prospect of the latter seems more remote now than it did when Leo surrendered. It is well, however, that the people should not attach too much importance to the rise in gold with which we are threat- ened, and that confidence in our national secu- rities should not be impaired. These last are the safest and cheapest securities in the country at present prices, and it must be remembered that the higher gold goes the greater becomes the rate of interest they yield in currency. It is greatly to be regret- ted that about seven hundred millions of these bonds are held abroad, for we are constantly exposed to the danger of large amounts of them being returned to us for sale; but we must accept the situation as we find it and not ignore the facts, however unpleasant they may bo to contemplate. The Proposed Radical School Law in Louisiana. An act regulating public education in the State of Louisiana will be brought before the Legislature by special order on Friday next. It is ultra radical and levelling in its charac- ter, and, looking at the political complexion of the Legislature, it will probably become law. It is one of the most atrocious measures ever conceived by any of the Jacobin carpet-bag governments of the Southern States. It not only proposes to mix the negroes and whites togother without distinction of race or color and prohibits separate schools, but it makes the attendance of the white children with the black compulsory at such schools or places as the Board of Education may designate. For this education, too, the parents are to pay, unless they are too poor, and then they will be educated, if the Board thinks proper, out of the school fund. Wo do not see how such 8 law to force white people to send their children to school with the negroes can be car- ried out, Tho Louisiana radical miscegena- tors, however, may think they can carry out such on atrocious and despotic law. The pride, instinct and sentiments of the white people will rovolt at the proposition, If they cannot be coerced the law will simply be one to educate the negroos and to leave the whites uneducated. and that. too. by the money raised by taxation from the white peo- ple. What do the people of tke Northern States think of euch disgusting legislation ? Would they submit to such a forced amalga- mation of their children with negroes? Such ‘is the result of radical Congressional reoon- struction. If we mistake not the Northern people at the coming election will repudiate the radical Congressmen and ‘all their infa- mous doings, and give their white brethren of the South some hope in the future. The Party Press a Disgrace to the Country. The party press does not improve in the tone ofits language. The Tribune and the World are as fierce if not more fierce than ever. Tho small fry of the partisan press rival, as is most natural, their big brothers in the coarseness and abusiveness of their language. The terms “Mar,” “thief,” ‘drunkard,” ‘‘butcher” and others of similar elegance have become stereo- typed in all the party journals, great and small. Nothing so degrading has ever been witnessed in the whole history of journalism. The poli- tical Billingsgate which has become the com- mon language of the party press of this coun- try, particularly of the Z'’ribune and the World, has no parallel out of those filthy dens which are the disgrace of almost all large cities, and in which vice has found a natural home. We have no right to expect a clean thing to come out of an uncloan; but we have a right to in- sist that the language natural to men only in conditions of the deepest moral corruption and debasement shall not be transferred to the pages of our public journals, When the ten- dency in such direction is so markedly manifest as it is now it is the duty of every one who has the wolfare of his country ai heart to exert himself to put down the grow- ing evil. It is undeniable that the evil is growing; it has boen growing since tho times of Jefferson. We have had from time to time glaring and even disgusting exhibitions of it; but we have never had any- thing so glaring, so shockingly disgusting as that which we now see in the Z'ribune and the World. Who would have believed that little more than three years after the close of our great war Gencral Grant, whose name will ever be associated with the salvation of his coun- try, would have been rudely smitten in tho face and jostled by men calling themselves American citizens ? And what moro natural? The World, the acknowledged organ of the democracy, calls him a ‘‘drunkard,” a “sot” and a ‘‘butcher.” In the outburst of the democratic spirit some days ago, at Carlins- ville, Ill., we see the natural fruits of euch teaching. The people naturally follow their leaders, but the blame rests with the leaders. Tho World, however, and its followers are not worse than the 7'ribune and its followers. Mr. Seymour, the democratic candidate, is a scholar and a gentleman. He isa man whom the country has delighted to honor in times gone by. As an ex-Governor of this State and as the nominee of a great party he is en- titled to be spokon of with becoming respect. But because his mind does not run in the grooves of the Tribune the editor of that sheet, with his accustomed virulence, can speak of him in no more respectful terms than that of “liar.” This state of things cannot be allowed to continue. The sensible and intelli- gent people of the community are already sick of it, and they havo the cure in their own hands, When the language of a public jour- nal has become g0 offensively coarse as to be a source of moral evil, even in the household, the danger cannot be allowed long to continue. Arms for the South—A Pretext for a New Session of Congress. The Governors of the Southern States, It appears, are sorely disappointed because General Schofield has decided that thero is no law to justify the issue of arms to the Southern militia, There is, we suppose, no doubt in the mind of any one as to what the Southern Gov- ernors want the arms for. It is to control the election against the will of the people by tho operation of an armed militia, The Southern white people do not require any coercion. They are remarkably peaceable and well be- haved, Infact, they have on several recent occasions refused to be brought into collision with the blacks, although the radical mischief- makers tried that game at Raleigh and else- where. Even the violence of some of the public harangues has been toned down to mod- eration of late, and there Is an evident disposi- tion on the part of the South to conduct the approaching election quietly, but firmly, against the radicals. The peoplo of the South have nothing to gain by disturbing the peace, and they are beginning to understand that fact. To commit acts of violence would be to play into the hands of their enemies and persecu- tors, and this is the very thing which the carpet-bag Governors are most anxious to ac- complish. There may be another reason why the Gov- ernors are so urgent about arming the militia, and that is to bring about an early meeting of Congress in September. It seoms that they have made a united appeal to Congress for that purpose, in order to supply such legisla- tion as Secretary Schoficld says does not now exist with regard to arming the militia. This may be o mere pretext to get Congress together, because there is no necessity for an early session, as Old Thad Stevens admitted in his last moments. This movement of the radi- eal Governors of the South, therefore, may be regarded as a mero party dodge for election- coring purposes, The radicals, who specu- lated confidently upon the support of the Southern negroes, may porhaps be pardoned for their present bitter disappointment at find- ing things going the other way; but that is no reason why they should be encouraged in pro- voking violence and bloodshed for party ends. We know enough of radical policy at the South to distrust these men when they raise the cry of “‘wolf.” It is pretty ovident now that the majority of the Southern people, white and black, mean to go against radicalism, and the free expression of the people’s will should not be interfered with by military force upon any pretenco whatever. ‘Tom Quanantixg Et Doravo,—Since the Custom House officials seized a portion of the Quarantine establishment for smuggling we have been informed that a great many fortunes have been suddenly made by employés of Dr. Swinburne, An investigation would be cu- rious, The public would be highly interested in a foor atatietiont etatomanta showing the value of the property owned by some of the men who are employed down in the Lower Bay when theyentered upon the duties of ‘‘pro- tecting the health of the citizens of New York,” and what property they have accumulated since. We do not want to be informed how they became suddenly wealthy. The dovelop- ments of Wednesday night last show that. Success of the French Loan. The telegraphic news from Europe informa us that the new French loan of four hundred and forty millions of francs has been remark- ably successful. The Monitewr, in its issue of last Friday, says eemi-officially that thirty- four times the amount of money asked for has already beon subscribed. That is the language of the telegram, but we think there is a mis- take in the statement or in transcribing)the despatch. A subscription thirty-four times the amount asked for seems incredible. Sucha statement, however, may be a political adver- tising dodge of the Moniteur and government. Still there appears to be no doubt about the strength and credit of Napoleon's governmont, notwithstanding the attacks of the red republi cans anda few émeutcs among students and others, But there is another cause for success of the loan. There is a vast redu dancy of unemployed capital in France. The Bank of France, according to late accounts, had in its vaults the enormous eum of fifty millions pounds sterling, or two hundred and fifty mil- lions of dollars in specie, The government monopolizes railroad and other enterprises, which in this country and England are left to private enterprise, and there is not the sania field in France for the employment of pri capital. Then the French people are more averse than any other to i t or speculate in enterprises outside of th own country. They prefer home loans and investments eve at a low interest for their money to employing it abroad with the prospect of larger rotu The success of this loan must be gratifying to the Emperor Napoleon, for it gives assurance of the stability of his government and hope of the perpetuation of his dynasty. a THE AMERICUS CLUS, Prescntation of a Handsome Testimonial to Vice President Heary Smith,’ The Americus Club house and grounds, et Indian Harbor, Greenwich, Conn., never looked more invit- ingly beautiful than on Saturday last; and the weather, being of the most auspicious description, lent an additional charm to the thousand natural beauties of this lovely rural and aquatic retreat, The national standard shook out its crimson and white bars to the stiff, fresh breeze at the peak of the lofiy flagstaff near the Library, and strings of vari-colored pennons and streamers were festooned from the summtt oftue pole and eround the balconies and plazzas of the club buildings. The general air of the place indicated, moreover, that something out of the routine was on the fapis, and this proved to be the case, ‘The evening had been set apart as the occasion of the presentation by the club of a handsome testimo- nial of regard to their Vico President, Ucnry Smith, and about one hundred members and invited guesta had assembled to do honor to the recipient of this elaborate compliment. ‘ The presentation set, of the value of $2,500, wad displayed for inspection in the reception room of the club house propor, and consisted of an elegant silver punch bowl, with goblets and dipper. Ail the picoed wore of massive silver heavily lined with gold. The bowl was about twenty-four inches in height, includ ing the stem, the faces of the circular base being namented by four tiger heads, the crest of the o! in fall relief, The central col: designed floral sprays suppor basin, which was about eleven inches in width ani eilipticin form, the sprays extending upward to the handles, whica were formed of the heads of Neptune and Ceres, very heavily wrought. On the outside of the bowl, on @ raised panel, surrounded by oak leaves aud laurel, relieved by nautica! emblems, was the follow- ing inscription:— Qeereeneeseeeeeeeventh Ne nNOOeTOet OGL LET LOEEL i PRESENTED TO HENKY SMITH, Esg. VICE PRESIDEN OF THE AMERICUS CLUB, BY THR MEMBERS, AvGuUST 14, 1868. POLOLT PERERA DOLE OELEE NACE TELE On the other side @ similar panel, decorated by ta- signia of a like description, bore @ flavly engraved view of the Club House from the harbor. The gob- lets each bore the monograms of the club and of the recipient of the testimonal, and the ladle also had the monogram H. 8. engraved on it, The stens of the goblets were composed of two Egyptian female beads supporting the cups, and the handle of the dipper was ingenously formed of a female in a reclining posture. The workmanship was of tio most ornate and elaborate character, and the com- plete set Was contained in handsome biack walaut Cases. Qeewneeeres ‘The company having asvembled tn the reception room at seven o'clock, Wm. M. Tweed, the President Of the club, said that at the request of tany of hire Smith's frieads, some of whom were them present, he was here to express their sentiments towards sentiments which had been enkindied by Lis many courtesios and acts of kindness extended’ to them through a long series of years. For himself he could not express the fee! which he desired to utter to one whose and high ity had oad rendered him ia. to iend @ hand. His life had been marked ees by manly characteristics which had ed his name to so many, aad which were as trac and as pure ag the metal of which these articles are cor- posed. He was soon now to pass the boundary which marked the half century, aud he hoped that his life im the future would be as it had been in the past. On behalf of the Americus Club, Ty it gave him great jure to present to him thts ee bowl, gobiets and ladle, and in the name of e club he asked him to accept this testimonial of their esteem and confidence, Mr. Suita, in response, said:—Mr. President and gentlemen, this surprise, on the forty-ninth annivec- sary of my lay, leaves me without language ‘1 which to express my heartfeit thanks for this vey flattering testimonial of your consideration. Coming as it does from gentiemen with wiom | have becu for #0 many years, it is to me a souven r without price and priceless, and through life tt will be my alm to deserve this high compliment. From 1% ir. President, I have received kindngsses whic cannot repay, and to the gentlemen of the commit tee lreturn my sincere thanks. You, gentlemen, will please soos my best wishes for your happiness pl rough Ife, then sung @ chorus and a salute was club howitzer, aiter which the co: any presented their congratuiations to the guest of Rie deeaing. ‘The party then assembied in the dinin, room, which was profusely and artistically decora © with national fags, and @ sumptuous dinner was partaken of, the festivities lasting until near mid- night. Among those vn were Walter Koche, Owen W. Brennan, Edward Kearney, Claudius i. Grafulla, E, D. Bassford, Vincent C. King, P. I. Keenan and numerous other Prowtnent ats Nothing whatever occurred to mar the enjoyment ut event, the speeches were few and appropriately brief, thereby avoiding all embarrasament, and the — proved to be & most interesting social ra+ unloa. WATERING PLACE HOTES, By the pleasant streams running through the hi of Dutchess county hundreds of New Yorkers amuse themsolves after the manner of good old Izaak Walton. Itissaid by those who know that Saratoga was never better patronized than it has been this season. And the joy thereat of hotel proprietors is great. ‘The Lafayette spring at Ballston Spa, in t which ceased flowing about a haif centers, is again _— fort Fiow on, thou bubbling spring men sald style was everything. Possibly it ma; have been in the verdant days the saying was itttere 4, but surely it was never intended to appiy to the style of hate now worn by ladies at our fashionable water. ing places. In shape these cranium coverings seein to be # cross between a snapping turtie’s stiell and a wastpan, Boat rowing at Lake Mahopac is the favorite pas- time of ta ladies visiting there. A boat race w 71 tate, spoken of byfthe fair sports, Row, sisters, row! Pat Newport the demoiseiles occupy # portion of their time trying the speed Hand drives are not of fast horses, Foggln fon I sOMBT le i } |