The New York Herald Newspaper, December 29, 1868, Page 8

8» ——— RESUMPTION OF SPECIE PAYMENTS. wocataaianatinee New Yor«, Dec. 28, 1803 To Tux Eprros OF THE HSRALD:— One good effect likely to arise fromthe discussion of this subject will be to educate the rising genera- tion in the important science of money and the prin- ciples of banking. This country has, as yet, produced no great elementary or practical writers on political economy, or that branch of it which our present ex- igencies bring 60 prominently forward at thus time. ‘The rapid development of resources, produced ba steady and ever acreasing influx of European dabor and capital, has enabled us to go on pros pering in spite of a@ pretty generally bad system of banking, and in the absence of & paper currency having a uniform standard of value thronghout the whole country, Hence the qwestions that have called into action the highest orde, of intellect in the older communities of Europe have been very much neglected here. The necessi- ties of @ vast civil war having given us the greatest boon tHe country has ever possessed in the shape of @ paper currency accepted everywhere at the same standard of value, it seems somewhat singular that 60 many people who have never stydied even the most elementary treatise on the selences of maney shouid be so anxious to get rid of it. If those who by their writings and speeches show their ignorance of the subject manifest such anxiety, what can’ be sald for others, like our Secretary of the Treasury, who do understand it, urging a return to the old sys- tem, which left more than half the country with a “wildcat” currency ? Although our “greenback” government paper 13 depreciated in value by reason of its redundancy— that is, there being, with it and the rational bank Paper together, a larger amount than is required for the present legitimate business of the country—it is, nevertheless, a downright blessing, and evght not to be legislated out of existence without an equally in- fallible substitute, But can such @ substitute be found? In France and England they bave the two great national banks, whose paper circulates or can be sold everywhere within the respective coun- tries and almost all over Europe at par. The next greatest boon to mankind to a universal language would be that of a universal.standard of currency. A currency, however, to hav¢ such a standard, Tmust be based on gold. Hence it is aesirabie that we should devise some safe method of getiing back to aspecie basis by an casy and gradual pro- cesa Any hasty and forced return would produce, by carrying down with it the values of all commodi- ties and the price of lands, rents’ and labor, a very great national catastrephe, 1 have iv former arti- cles in the HERALD pomted out these effects; but there are so many considerations connected with the question ef currency that it is dificult to do justice to it in the limits usually imposed on those who seek ‘publicity through the crowded columns of a great Jeading jo) I therefore return to it th the hope of popul: ing certain generally received if not fully demonstrated principles, and using them to Point the way to a sound system of currency. What is now most to be apprehended is the hasty action of the national legisiature. in the first place, ‘there is no urgent necessity for an act to provide for an early resumption of specie payments. All the values throughout the country have become adjusted toour paper currency, and the chief evil of its at present too great volume arises from the fluctuations of gold, as measured by the paper standard, caused by artificial means, such as the combinatigns of men controlling large amounts of capital and availing themselves of extensive bank credits given expressly to speculate in gold. If Congress could devise some means to limit this evil the currency will appreciate steadily to a gold standard without any serious dis- turbance of values. When goid, as at present, is 135 in the market, a paper dollar is worth, by that stan- dard of measure, about seventy-four cents—or, in otuer words, it is at twenty-six per cent dis- cor or that much depreciated. If by any process a regular and gradual appreciation could be eifected — at the rate, say of e.x and a half per cent per annum, or a trifle over a half of one per cent per month—the specie pdint would be reached in tour years. This, | conceive, cav be done by a system I have heretofore sug- gested—name! by the Secretary of the Treasury authorized to use the ee gold in the @ the greenback currency at ed by a series of avet as vaine declined or diminished, ‘This st in proportion to the imerease in the and lor currency prodaced by the rap.d develop- inent of business. i contend that this pian would be au eifectual var to the “speculation jor a mse” tn gold, for the simpie reason that no combination 4 to prouuce @ run on the ea, and it is not likely that x i for a dolier in exchange their saw that the governinent s both avle and willing to pay at the last average. contrary, (he gold at present poarded by the would be gradualiy put on the market and rT la tus way, | argued, we should le regular actiog of the e without the contra tion of any part of lavag mediiin. methods, though in my judg- ; and i propose to examine ies of currency and to state their ideration tn The maim question to be solved may here ed as follows:—How are weto get back to payments with the jeast perturbation in the jities, land, rents and the wages of e answered in one Way, and shail ans ol others presently. Meantime it to lay down some landmarks for the such us have not gove deep into the sci. ey and carrency:— is ineant, scientifically speaking, the eof & natiog. 11s, prior tw the m- vention of banking, coustituted the ouly currency of Civilized nations. hy eur s meant not only the coinage of a Nation but er scriplion of acknowledgments of sity necessary qualiications of value circulate frou land to hand, or, to , 10 cause Commodities to circu. covers Dank checks, bills of uvtes and all the various con- chauges of every kind, ex- herefore follows that’ the y tutes the sulin total of all debts: cach individual in che commanity. tis enlarged definition of currency we get some ‘| idea Of tas enormous maynivude in a great in- x yuimerctal country like the United 1@ aggregate in datly use, judging trom ons ol the banks in this city aione, can- + Ulin from $3,000,000,400 to $4,000,000,600, ‘y of the goverament aud national ve assuined to be, im rouad 0, of say one-fifth of ‘the whois 88. As this one-fifth, however, f values, it8 expansion or con- eof suspension of specie pay- 4 4 wes & matter of public solicituce aud generally the subject of legislative in- tervention, Jf expansion has become of such mag- um as to tt enurely out of circulation, ape of coin or bullion, amodity, and 18 bought, in the same as every over if we had no foreign trade, ountry, specuiation in inves would be productive tof adeprectated paper, irrency, 18 always to drive currency out of circulation; and in 1 do Hot produce the precious metals, ogetier, But for the law which f customs duties in gold oar uid Nave been materially mount estimated to be in the ance 0 question for Congress to consider whether a all it may not be advisable to repeal this provi- Ww, and instead of compelling merchants to pay duties, and by this roundabout us for paying the gold interest on vue debt, mi. ke the government the purchaser god instead, The government would then w to deal with the speculators for a 1i* than ten thousand individuals who ination or fh 1st bave at any acted on there would be no diificuity in eliccting the change from goid to currency duties. ‘Those would have to be varied, to sult each average, aod would diminish as toe value of the pepe, our. ated. As ® means of providing gold ption of any notes which might be payment, if any should be so pre- ntod, before a specie basis is reached, and also to » for the gold interest on the debt, the gov- cat should open gold accounts at the Treasury 1v-Treasuries and at some one or more of the bDaious banks in every city, and receive gold de- pos ‘ate of interest as Will always keep y supply. If too much is offered the \ may be lowered; if not enough, nethod ip in every way better than Sendtof Morton's bill—namely, the murket for @ loan to procure funds bg the paper currency, must be raive The foregoin, correney appreciaves to the gold par the gold it has ) OUf Of circulation by an unchangeable law of ro will Immecoudteiy révurn and the government borrow. Senator Morton no y accurate.y ‘ } y 10 longer need + Pi estimates the whole quantity ONMLTY Ht $40,000,000, As the greater ge sinh ie idle and anprodactive it ifubted that the government can, by the process of bankers, who want money to trade ' ‘ tie payment interest on gold ‘ ull ft Wants «wo carry — out “ wu =morten’s play jor jevemption NEW YORK HERALD, TUESDAY, or thes which 3 have stizecaind en. meen Dante one into whieh Mr. Morton hes. fallen 1s, bis ase that the contraction of the currency will towards a in by men, it is induenced demand, cou with or bank that es it. He, back to a 8} ry thejlaws mand that the volume of currency shall bear ratio to the amount of business, find the paper or a taney to pay, it om, volume icked-ap gold. and sitver will:beiset tasee 28S oeeinls 98 yernment borrowed four sector millions ana paid it out dollar for dollar for Another very absurd and w! impracticable scheme has been ded for ‘at resul tion, It is neither in more HOF Geepung ree to pass am act to reduce and unse! ts, act of repudiation. Though such @ plan it reach the cases of contracts and not do any wrong between man and man, #0 far as contracts are concerned, how wouid Jt aifect the values of ‘ty of a permanent kind, such 2s lands, houses and numerous kinds of personal pro- . ate These values would be suddenly reduced Wentyefive per oan and would ruin.a vast umber of persons. The plan, however, is imprac- ticable by reason of the im) ibility of ascertaining the true amounts to be paid in an almost indefinite number of cases and also because the constitution aire tenaciously urged by the New York ‘The pl 80 y the New Yor! Tribune, to appreciate greenbacks from a discount of twenty-five per cent to par at a single bound, has some advocates among the unlearned in monetary eclence, and therefore requires notice. ‘The Tribune argues that all that is necessary to be done ie tor Congress to instruct. the Secretary of the treasury vertise that he will commence paying par for ‘the governinent currency, and straightway the work of resuinption would be effected. Conourrenily with tus prodigious result government bonds, which are already carrying gold iuterest, would tise trom iif- teen or twenty per foes discount to par. Let ns seriously mine this proposition by the laws of currency. We wiil aasume that the govyern- ment has $100,000,000 of goid in the Treasury and Congress authorizes and directs the Secretary to commence redemption, The first thing that will happen will be a gold panic. Everybody would rush to the Gold Room to sell, and the price would imume- diately fail twenty or twenty-live per ceat. This woul pring down the prices of all commodities iu a corresponding LG pal for they, too, are at a like premum witu gold, As the aggregate business of the country is carried on by means of “‘margins’’ of about twenty Per cent, these margins would ail be wiped out. ‘The value of all kinds of stocks, a large b of which are held on still smaller margins, would fall still more, and all tle “bulls,” both of stocks and gald, as weil as nearly all the merciiants, would be broken. This would all happen belore the Secretary would have time “to prepare” for his relentless work. of devastation. Nevertheless he would be obliged to go on, and instead of uovody wanting gold everybody that had a greenback would rush with it to the Treasury for payment at par, and the coifers would be dramed dry as speedily as the cola could bé told out. ‘Then, after one-seventh of the currency bad been taken in, up would go the price of gold higher than ever, and the “bears’’ would all be broken io tura, and up would go every- thing else in proportion. The governmeat bonds would be returned from abroad, and the price, in- stead of going up, Would sink heavily, because the government itself! woud have lost prestige, and would be for tue time being bankrupt. The sources of income would nearly all be dried Me and the cry for repudiation would spread like wildfire. Such 1s the clear, logical conclusion of this plan, drawn from the well establisned principles of currency. , From these considerations it is impossible to con- ceive that such a project can be seriously entertamed in Congress, and the plan may, therefore, be dis- missed as unworthy of any more serious arguinent, It may be well, however, to note bere that in giscuss- ing the sabicet 1 have spoken tn the popula? man- ner of gold being ata premium. This is true of it when meas by @ depreciated paper currency; but, scientifically speaking, ind is never either ata premium or discouut, being itself the eccépted mea- sure of ail other values. The celebrated “Bullion Re- port” of the British Parliament, in 1511, fully settled this view of the question on its ‘true sclentilic basis, and no one who not studied that report and sub- sequeut british legislation relative to the bank sus- pension and resumption ought to be regarded as authority in the premises. ‘The gross error inw which the bank directors and nearly all the British merchants fe\l by assuming that Bank of England notes turmed the true measure of vaiues is eae 4 exposed. We have bankers and mer- cbanta in abunda in this country stupid enough to assert that the balance of trade is generally agalust us because We export more gold than we import one year with another, as if gold was fot a leading pro- duct, and, as such, a highly proper article for export. This export is no doubt stimuiated by our present redundancy of currency, the result of which is seen in its depreciation. As already observed, the effect of such @ currenoy is to drive the higher kinds out of circulation, Everybody has remarked on the ditfer- ence im the value between gold and silver coins, which, before our paper depreciated, were coaverti ble into each other at par. As soon, however, as the peper fell eight or ten per cent below gold the value of silver feii also below gold coin until it reached the Umit of the difference in the actual value of the two kinds of coinage, or which marks the relative amounts of adulteration. Last of all the copper and nickel ceuts disappeared. if, therefore, deprectation is the evidence of re- dundancy there are only two methods of getting back to a specie basis—iirst, to withdraw a portion ‘of such redundancy, or, second, to wait ull the in- crease of business, which in a country like this ts so rapid as not to make the pian objectionable, shail require the whole of our outstanding govern- ment and bank currency. If the volume of currency Was so excessive as to threaten results similar to those which foliowed the issue of assignats and other descripUons of notes in France, and our own revolutionary issues of paper, the Baney, of contracuon commended by Secretary McCulloch would be emi- nently ‘wise. But ag we have no sach excessive issue, and a8 our commercial business and indus- trial proseencn, on which it is foynded as on a rock, double about every ten yt if may fairly be as- sumed that we shall “grow up” to specie payments in jess than half that time without any serious perturbation of values. Congress should therefore jet the currency Mosh alone’’ and con- tent itself with the assurance that it is and ever will be reguiaied by # “higher law” than any legislature canenact. What it can dois what I have pointed out. It can do something to limit the range in tue factuations of gold. 1 will conclude this part of my communication by the remark that it appears by in- duction, from what has beea estabi i to be an axiom, that so long as the Bp apiens of industry in- crease in the same ratio with a Fas, currency the latter will not depreciate. Bat if the latter increases in @ greater ratio than the former its depreciation, all otner things being equal, will be in the exact ratio of such excesa, It Is, therefore, an established law of nature that the values of ali commodities, in- cluding the precious met where measured by such varying standard, rise and fall with the variation of the measure in the same manner as cloth would if the yard measure shortened or lengthened. it is now time to allude to a misrepresentation prevailing among popular writers as to the supposed difference between an irredeemable government and an irredeemable bank currency. To understand the subject at ail We must flad out what it is that gives value to either. Jf one kind of inconvertible cur- rency possesses a higher degree of security than the other it will sustain @ less percentage of deprecia- \ion if issued in superabundance or in excess of the ‘Wants of trade and industry, It is, therefore, a jon of public confidence and credit. It can vily be necessary to enter into a lengthy argu- ment to prove. what everyday experience exempil- Kverybody prefers to hold greenbacks to national bank notes, though the latter are se- cured by government bonds deposited with the Comptroller of the Ourrency. ‘This is certainly a high order of security; but it is not 80 fh 88 an absolute guaranty of the government, The bonds rise and fall im market value, but the piedges of tue government, though depreciated by an excessive issue, can always be re- lied on. It is, therefore, a question that depends for its solution on the relative degrees of public conf- dence in the two kinds of securities, and I infer that those issued by the government take procedence. Those who draw # distinction ‘1 favor of the banks gary. assert that a part of a thing i greater than the whole, as the credit of the national banks ts maintained by a qualified endorsation of the govern- men'—that is, by the market Value of its bonds— while greenbacks are fully guaranteod, + With regard to the argument that an tnconverti- ble paper currency will never apprectate or, ia other words, that the premium on gold will not steadtiy recede either by a withdra' of@ rt or the currency, or oy. ‘an increased demand for currency, to circulate the increased products of indust: e Thave to say that it is neither in conformity with common scuse, the laws of currency nor the experi- ence of mankind, This assertion is borne out by the bullion report of 1811, and the ‘of con- traction and éxpansion of the Bank of England from 1797 to 1825. To gi intelligible aketeh of this very ample experience of the Grst commercial country in the world would occupy so much oS) in our columns that I cannot ask it, though f think it he most vainable information that could now be given to the public. Our circumstances are, how- ever, much more favorable, according to present ap- pearances, for a return to specie ents, than were those of Great Britain at the pe referred to. That country had to contend against famine and general political discontent. We, thank God, have abundance, aa yet, and & prospect of @ steady and rapid development of latent as well as of existing re- sources, and political quiet, in discussing this subject with a friend, since com- Mencing to write, he has, put a véry natural ques- tion which others may protably It i, “How much, in your fg ee) of the national currency, wouid have to be withdrawn beforo @ specie basis could be reached, or before resumption would be practicable?’ The best answer to this interroga- tory is, “Contraction must go on until the govern- ment and the banks together — the necessary amount of cash to meet such calis as are usually made on banks doing a sound business in Umes of specie payment.” In any case it would have to be cone by & slow and graduntea process, or the resulta Would be more or lésd disasiruus to trade and indue | try, and a generat panic would indefinitely postpone | resuimptiou. Theslow and gradual process would be aided by the Increasing requirements of trade and industry and would en the ability of the country toresume. But | content that (he Dest way 4 to let ‘well alone;” les the uatural laws work the cure and late only to prevent, as far as possible, the daily ction of those laws by speculators. ‘There is yet another class of philosophers to be Noticed, namely, those who argue tat there 1s & marked difference between agovernment and wu bank currency, because the banks lend thelr notes and can always call then in so as to kecp within their ability to pay all demands, licnee, as a logical cone clusion, banks enjoy a bighes degree of public credit than the governuient. I have already in part refuted this arguinent aud shown that thiseonclusion 1s er- Toneous and upsete the tueory. ‘ihe truth is, the proposition itsclf is mot weil founded. The govern- oe on like the bauks, pays out its notes for a valuable considerati and continually receives them back for the ssme—that ls, m taxes. The ability of a government or a bank to circulate tis notes depends wholly on its credit, or, 10 ether words, on public dence. Hither may damage itself in gone estimation by reckless and bad Management; ut that if & question notat present under col- sideration, The final and logical deduction to be drawn Lom these weil establisned facts—established both by theory and practice—is that our goverument or any other having equal stability and equal credit— that Deiug superior to any bank credit—can resume ns conuaue specie puyments on @ less cash capital bani Onrayn eX ence, both as to the superior credit of the nation, founded ou its resources and ability to pay to that of @ bank, aud of the law which causes the v: of au irredeemabie paper cur- reacy to depr te below and apprecit towards @ ixed metuilic standard measure of values, in the alinost exact rauo of the ineresse and contraclion of such currency, has been most ample during the last seven years. 1 say the aluost exact ratio, uot because the law is not as “unchanze- able as te iaws of tue Medes-and /ersians,” bul be- cause it acts on a condiUen of thugs contunually undergoing change, One of these things is the rapid increase in the dustrial pursuits, always wtiended by @ corresponding increase iu tue aggre; coms modities euieriug into commerce ab hi and abroad, This cau be judged of in some do, by the simple statement that the gross amount and value of all the freight transported of the railways ofthe United ptuies las iucreased Jourfold in ten years. 1t will, theregore, not sceid surprising whut We now require about three times the volume of currency that Was adequate ten years ago, Bul, bo~ Bides this, ue deuauds jor currency are continually varying from day to day and from inopth to mouti, and the best reguiator of the amount needed for legitimate business 18 Wo always Keep Lhe paper cure Yeucy Wikia tue Limits of ability to pay specie ior all taat 18 presented, According to these infallible laws our present greevbuck currency will appreciate fast enough ior safety to our enorinous CoiuuMerce aud yusl Luidus- triai system, and the chief evils we shall have to en- dure ineautime are those caused by the prodigious amount of speculation in gold which causes eudiess fluctuations that unsettie all values, Thus is an evi that was comparatively litue kaown in Eugland during the loug suspension of the national back, They bad not Jn that country tnyeuted we reiino- ment of the “gold exclauge,” waich is due to Yaukee enterprise. Gold remained sometimes for over a year at a ixed paper value and then rose or fell, according to the expansion or coutraction of the aper currency. ‘The Jaws of nature were not, 10 fact, Iinpelied in their operation, When gold was needed for export tt was bought in the siape of bullion, for the export of coin was provibited by jaw, which made it a criminai offeuce, aud atew bullton brokers and the Bank of England monopolized the business, it may be noted a8 a siuguiar fact that when the Baok of England did resume specie payments nobody wanted any specie, because the paper had gradually appreciated, leavin: no wide gap to be bridged over. ie country was found to be full of it, and it flowed in from every of the world. This led to a new and dangerous inflation of values avd business, which ended in the grand financial collapse of 1625, which Ouce more desolated tie country. Those who will study these events carefully and in detail will see much to create solicitude as to the course of our own national desuny. They will see that the vast system of anflation in our railway, telegraph and ail other stocks, by the so-called “watering” process, must end in a terrific calamity to those who are involved in them, and it is probable that most of our business men are more or jess jn this predicament, A sudden and |: reduction of values by contrac- tion would precipitate what seems to be only a ma® ter of ime, a complete obliteration of these purely fictitious vaiues, just as tt did in England and just as we Lave witnessed many times here, alter periods of great and undue speculation, ut one genera- tion seidom learns from anotier. Yours, &c., HB. W. TOE STATE FINAN OF ILLINOIS, The biennial report of the Treasurer of the State of illinois will not be published until laid before the Legisiature, at its meeting in January; but there ts no impropriety in stating the actual condition of the ‘Treasury as it will be shown by that report:— The debol the State on the ist December, December, 1 Amount of principal of debt paid in two 1a ae the + «$2,656,889 rhe following table exhibits the receipts and ex- penditures during the two years ending November 30, 1865;— Receipts. Dishursements, Revenne fund.. + $2,276,763 $2,126,434 State debt tund, 069, 1,489,837 nterest fund..... 1,128,373 1,129,882 chool fund... 301,168 271,424 Llinois Central R. R. fund. 860,154 892,043 Unknown heirs’ fund. 4,338 =_ Deserters’ fund... 30,400, 80,400 Hancock county int. fund... 20,536, 20,194 Schuyler county int. fund. 4,893 4,434 Brown county tnt, fund, 12,408 12,155 Quincy City int, fund. es 87,311 25,920 A $6,335,596 a marth $6,30: Balance in Treasury December 1, 1866...... $1,414,171 Balance in Treasury December 1, 1868. + 1,447,041 ‘rhe outstanding indebtedness of the State consists of the following bonds and stocks:— New internal muprovement stock, 1870..... $1,685,953 Interest bonds, 1877.. . + 966,649 *inierest stock, 1800, + 184,811 Liquidation bonds, 1865. ‘Two coupon bonds, 1838, 1840 195,400 2,000 213 bonds refunded stock, a: 204 bonds ref » pay 67 bonds refun stock, payable after 1876..... iepcas>-vedespesavade:: CR Q00 833 bonds refunded stock, payable after *8 bonds refunded canal stock, payable MOE 1800..60..0ssreudarners acest 8,000 45 bonds Normal University, payable after 104 bonds Thornton loan, payable after 1879 104,000 $24 bonds war joan, payable alter 1879..... 324,000 302 bonds war loan (oo) « 151,000 682 bonds war Joan ($1 + 68,200 19 bouds [linols and Miebigan Canal, . 19,000 2#-bonds lilinois and Len ge Canal, . $,400 25 bonds £226 sterlin bonds. + 25,000 20 same class of bonds... 7,000 29 £100 sterling canal 12,883 405 same ciass bonds. 63,408 697 £226 canal bond: 697,000 518 same Clase... . 181,300 45 £300 canal bonds: 649 same class. ... Tota! interest bearing debt. Bonds called in by Governor's prociama- ton, previous to 1868, om Which ia@terest «+ $5,976,103 is stopped......... * ° 13,360 Total outstanding debt... $5,938,453 Of this debt notice yn given by the Governor, interest will cease after January 1, 1890, upon the bonds marked thus *, amounting to $161,011. These, with the liquidation bonds, $193,400, and the re- funded stock bonds of 1862, 1,000, making an aggregate of $557,511 of the debt Which is within the power of the State to redeem at pleasure, The re- mainder of the debt does not mature until after 1870, extending to 187%. ‘The receipts from the two mill tax during the two Years were, in 1867, $756,396, and in 186s $913,772, or, in tae aggregate, $1,669,168, The revenue from the Ditnois Centra: Ratiroad Company during 18607 was Sek and in 1863 $431,441, oF aggregate of As these funds wili rapidly accumulate hereafter, and as itis not possible to require auy of the State creditors to surrender their bonds, General hte commends that the Legisiajure authorize the invest- ment of the unempioyed money im interest-bearing securities, and thus in effect stop the interest upom an equal amount of the State del ‘The surplus in the Treasury December 1, 1968, was $1,447,041 12 This sum, by the Ist of July nex after paying all the expenses of the government, wil be nearly $2,000,000. The debt payable in England amounts to $1,268,187, the interest on witich | 19 payable in gold in London, In 1867 the State ~of Illinois, in order to pay this interest, had to pes gold at an ex- pense of $36,404, and in 1968 at an expense of $33,062, With @ million and @ half of unemployed money in the Treasury and this accumulating at the rate of $1,250 per annum, it will be criminal to strb- tthe State to tits ehormous expense for gold. t the Treasurer be directed to invest all the moneys set apart for the State debt ané interest in five-twenty bonds and jet the gold interest on the one offset and pay the gold toterest bonds of the State held in London. ‘The condition of the State Treasury ts highly satis- factory. The present annual revenue of the State wiil discharge ali the debt within five years, and if the surpius was invested ag @ sinking fund would practicgily extinguisa it in jess than that time. Loorixd OvT FoR THE FoTvRE.—An old negro woman in this county has been to see a cabinet | Maker and had her measure taken and paid for-a | coitin to be buried In, She says Blue doesn’t expect to live Jong and is afratd she will never have ioney i Wo buy @ Culllu agaib—ClasAsville (Ala.) Quid Mane. BROOKLYN CITY. THE COURTS. KINGS COUNTY COURT OF SESSIONS. Tho Indictment Agaiust the Beard ef Super- visors. Before Judge Trey, Justices Hoyt and Voorhies, Yesterday the seventcen members of the Kings county Board of Supervisors, who had been indicted by the last Grand Jury, appeared tn the court for trial. They were charged with having misappropri- ated the funds ef the county by paying the salary of Mr. Henry Corr, @ Superintendent of the Poor for the Second district, without the proper ailidavits being signed to the bill, ‘The District Attorney, in opening the case before the jury, stated that the inaictment in question had been found against the deft ts for their omission to have the affidavits afixe the bid as the law re- quired, At the election in 1866 Henry Corr was a candidate for the office of Superintendent of the Poor. Francis C. Kirby was also a candidate at that election, Henry Corr received @ majority of the votes cast, aud was, of course, duly elected to that oilice. Mr. Kirby having been elected to fill a vacancy occasioned the death of Mr. Roberts, claimed that he Bho Fight_so bald the fice sor the full term. . Corr applied for a certificate of eléction, but the Board of Canvassers declined to giveit to him, Sabsequently he brougut an action in the Supreme Court, and it Was decided that he was legally elected .to the oftice of Superintendent of the Voor. ‘That decision was appealed fromito the General ‘lerm, and there the judgment of the lower court was confirmed. Mr. Corr then, after entering upon the disc! 2 of his duties, sends na bill for salary from the Ist of January, 1807, at which time, according to the de- cision of the court, he was entitled, as he claimed to lave entered upon the discharge of bis duties. Subsequent to that the Supervisors passed this bill, allowing sur. Corr @ salary which would have been entith to receive had he received luis certificate election and entered upon the dis- charge o1 bis duties on the 1st of January, 1967. It Was Clalined that this bill, which was paid, was not properly veriiled as regaired by law, aud for that omission the Board of Supervisors had been 1a- dicted. The District Attorney thought the matter resolved itsell juto a alinple question of law. Mr. Edward Oadicy, clerk for the Board of Super- oe begat vb Soe ae rt testified to the adopuon of the resolution authorizing the payment . William D. Veeder, who appeared as counsel for the defendants, asged that ie jury be instructed to find a verdict of acquittal. In ‘the first place the Supervisors were iudicted, as the indictment alleged, for auditing an account that was not properly veri- fied; in other words, that a bill was presented by Henry Corr for aalary for Superintendent of the Poor, and that bill was not @ properly verified bill, and Uhat the acilon of those of the Supervisors who had been indicted was unwarranted. It was evident fromthe statute under which the indictment was found that the statuie never contemplated a bill of the kind presented to the Supervisors and upon which they acted. It did not refer to any such account or any such a statement or claim. ‘The counsel called the attention of the Court to the twenty-sixth section of the Revised Statuces, which sets forth that no aceount should be audited by any board of town auditors, supervisors or superinten- Gents or the poor for any services or disbursements unless such account shall be made out in items and accompanied by an ailidavit attached toit. This, however, was simply the claim of Henry Corr, su- rintendent of tue Voor from January 1,that being he time he was entitled to the ofiice according to the decision of the Supreme Qourt. There were no Items about it. it was merely @ claim. There was no detatied statement, no items of disbursements. On the con , Mr Corr merely claimed his salary due, which amounted to $4,200. Judge ‘troy charged the jury Soneer are the statute in reference to accounts, as it had been read, had no application whatever to this case. It was no such account as required an atildavit to be attacued. Whatever the action of the Board might have been on the ist of June (when the salary was fixed), whether valid or invalid, it was uot charged in this indictment. ‘The jury would have to pass upon the case simply in accordance with the charge in the in- dictment, and it was not necessary to determine as to the legality or illegality of the Board in fixing their salary in June or at the anuual meeting, ‘the simple question which prosented itself was as to whether the account was one which required an affi- ane or not, The jury returned a verdict of not gullty. BROOKLYN INTELLIGENCE. Bureatary.—Thomas 0. Hanion’s butcher shop at 184 York street was broken into on Sunday night and robbed of thirty doliare’ worth of meat. OvERBOARD.—Mr. D. Carpenter, residing in De Kalb avenue, fell into the ferry slip at Catharine ferry on Sunday night and narrowly escaped drown- ing. Le was fished out by the ferry hands and taken to his home, WBEKLY MORTALITY.—The mortuary reports at the office of the Board of Health show the number of deaths in Brooklyn during the past week to have been 152, an increase of 12 over the number reported the week previous. Of the deceased 33 were men, 34 women, 51 boys and 29 girls. There were 30 deaths from consumption, which is the highest number ever before reported, 4 THE BROOKLYN SKATING RINK.—The contractors who built the new skating rink on Clermont ave- nue, near Myrtle, which baa just been completed, formally turned over the possession of the building in question to the board of directors of the Brooklyn Skating Ring Association last evening. This insti- tution is the frat of its kind in this city. It is built after the model of the Tkird avenue rink, has & width of 124 feet by 200 in depth, and wilt present an ice surface of 90 by 170 feet. There are seating ac- commodations for 4,000 people. The cost of the gs on which it stands was $35,000, and that of ne building $65,000. Along the roof of the structure extends a glass surface twenty-five feet in width. The material used was brick and wood. It has been constructed on the joint stock plan. It will doubt- less realize the expectations of {ts founders in amp! repaying them for the expense and trouble whic tuey have undergone, TUE KLVGS COUNTY SAVINGS BANK. Inauguration of the New Building Yesterday— Interior of the Edifice. At an early hour yesterday morning the “Stars and, Stripes’ were hoisted on the flagpole of the new Kings County Savings Bank butiding asa signal to the inhabitants of Williamsburg that the editice at the corner of Broadway and Fourth street was to be opened for the transaction of business. The old banking room in Washington Hall was closed, so far ‘as business was concerned, and the books were re- moved to the new and more elegant premises for the first time, and behind the new counters the clerks ‘waited for the calls of their accustomed visitors. THE BUILDING. The massive and beoautifal structure, which was opened yesterday, has for a year past been in course oferection. It has been built for the Kings County Savings Bank, a comparatively young institution. It ts a model of pure architecture, and has no equal near this city for beauty of proportion, adaptability tothe purposes for which it has been erected and for finished ent As has been already stated in the HERALD, it a frontage of forty-five feet on Broad- way and eighty-two feet on Fourth street. The building is in the Italian style, the front towards Broaaway bem | gracefally broken by the massive rch and the columnar recess above, The windows on each side are flanked with ante of the order which characterizes the story in which they are placed. The ton Broadway has a did clock, with Uluminated dial, enclosed by elaborate carved work. The build- ing rises from @ heavy pavement of Dix Island ite, which forms a base for this really idsome structure, The entire cost is estimated at $100,000, THR BANK ROOM 18 one of the most elegantly finished in this vicinity. No cost appears to have been 8} to make it not only beautiful, but also artis ‘The extent of the room is forty-one feet wide by sixty-one feet deep, with a height of twenty feet, — The ceiling is on iy coffered and supported by bronze colamns with caps of rich gill. ceiling is exquisitely frescoed in ol. The centre coffer, which is the largest, is tastefully frescoed in drap with brighter tints artisticall juced. The sides are ornamented with han e ay oe representing the objects of the tution. These paintings are of no mean merit, the faces of gome of the figures portrayed being really ineritorious a8 works of a1 the portions evincing on the part of the artist @ finished education in the representation of the human form. In addition to these paintings, the celling is further adorned by the monogram “K. ©. 8. B.” In several unique veal and also by th itial letters of the various workmen whogiave el 1 upon tue butiding. The wails are handsomely frescoed in panel. The colors employed are chaste and har mouious, and it ts scarcely possible to imagine any combination more pleasing to the eye than that which i presented, ne predominat: color is ‘ay, but the effect of this color is toned y Ue introduction of both darker and colors, The furniture is also very handsome and adds considerably to the general eifect of the inte- rior. The counters, which form asquare in the cen- tre of the room, are of iniaid work ot well selected famples of sycam ebony, tulip, maple and French walnat, the whole — en in American black walnut. The floor is lald with boards of yellow pine ano black walnut. At the rear of the room the Walls for some height are covered with wood work of the same character, the various colors of which are beautifully brought out by the use of varnish. Altogether the room presents a most beautiful ap- pearance, bright yet not andy taste, yet not so elegant as to divest itof the arance of a room set apart for business purposes. ‘The Trustees’ room adjoiming is finished to correspond; the wails aud celung are clegautly Huishod, aud We Loos is covered DECEMBER 29, 1868—TRIPLE SHEET. with a rich The mantel is Tous plece ut wootwore and ls surmounted and the ladies’ tollet room, is the vault, most not features in the building. from the foundation of massive granite, wide and twelve feet 1 with double giar and fireproof doors of the most approved facture. No expense has been g| to mi impregnable vauit, aud it F Z F i 4 g 3 fi Feng ge f asa “Re cerpeeicd that males and females. business in separate parts, while one central point sufices for separate egress and ingress of customers. All the improvements of the day are provided. The in: feativitios of yesterday were par- au; v! ys ticipated intby almoge all the prominent residents of the District. In the oldjbank room an excellent lunch- eon was provided, Mayor Kaibfeisch was present, and at his saareeion, the asbembled guests drank success to the he ane pane career to it in its new boliding, The new ed was, of course, the main oe of conversation; and although the visitors were of all opinions on other subjects, they seemed to be of but one opinion as to the new bank, and that was, that it was a credit to the Eastern District. BROOXLYN BOARD OF ALDERMEN, ‘The Board of Aldermen met yesterday afternoon, Alderman Bergen in the chair. The Law Committee, to whom was referred the communication of the Mayor suggesting the sale of certain property belonging to the city, reported that it would be desirable to have a thorough report of all real estate owned by the city, witha view to its sale some time during the coming year. They think that 1t would be well to have maps of the property for sale distributed among the real estate dealers, A resolution was adopted to the effect that the Comptroller be directed to report to the Board on or before the 18th day of January nexta full and compiete statement of the real estate held by the ity, showing the manner in which it is occupied, ac, A communication was received from the Street Commissioner presentiig a remonstrance against opening Broome street, between Graham avenue and Suiith street. The remonstrance was signed by eloven land holders. ‘The matter was referred to the Conmitice on Opening Strevis. * Alderman DANrELs submitted a resolniion direct- ing the Street Commissioner to advertise for oe als for laying the Nicolson pavement on Caraber- and street, between Myre and DeKalb avenues. After some discussion the matter was referred back to the Grading and Paving Committee, ‘The Railroad Comittee, to whom was referred the application of the South Side Railroad Company for permission to make a_ trial of their dummy engine within the city limits, reported that having considered the mat ter they would recommend that permission be granted ween certain conditions—that they have three days to try it from Busiwick avenue to the Nast river during the month of January, 1869, and that the engine be preceded by a horse wich a driver carrying a red fag; aiso that the company execute a bond, satisfactory to and to be approved by the Mayor, for the payment by the company of any damages that might be sustamed by the running of the engine. The report was adopted. Alderman THORNE introduced a resolution provid- ing for the pavement of Butler street, between Van- derbilt and Fiatbush avenues, with the Nicolson oe Hegala ape tins9 the veto of the Mayor. ie resolution was adopt A resolution complimentary to the chairman was adopted. Mr. Bergen thanked them for the compli- ment in a few appropriate remarks, after which the Board adjourned. BAILROAD KINGS IN THE SOUTH, A Grand Tournament on the Field of a Cloth of Cotton. (From the Montgomery (Ala.) Mail, Dec. 25.) King Wadley, of the Georgia Central, has just added another feather to his plume. He’ stands be- hind the Southwestern Georgia and buys up a con- trolling interest in the Savannah and Gulf road. The result of this purchase is to destroy all competition. King Wadley can now charge what he pleases for carrying cotton toSavannah from Macon and ail of Central Georgia. Although be cannot buy up the Chattahooche or the Alabama river, he can very easily buy up the Alabama Legislature, and have such @ license put upon steamboats as to practically run them irom the river. And then, with a controlling vote in the railroad lineg from Savannah to Montgomery and Mobile, he can charge What he pleases, and reign as monarch of all he surveys. King Wadley is, however, in danger from a rival, King Mahone, of Norfolk, has stretched his arm down jinto East Tennessee, and is how getting cotton from Sel We wouid not be surprised to see the Norfolk king capture tnese ‘domains of the aint of Savannah. Mahone has evi- denuy flanked Wadley at Seima, and will drain the cotton region north of the Jine of the Alabama river drawn due east and west between Seima and Mont- Now, if General Mahone wili only help us build a road from etn Stes to Lime Station, we wilj attach Mr. Owen's as a feeder, and send our cotton bales to Noriolk imstead of Savannah. There ts only one way for King Wadley to head off King Mahone, and that is to anticipate him by, bane the Lime Station connection lim- sell. ie two need not fear that anything stands in the way of their taking the contract be- tween Lime Station and Montgomery. It ts a mis- taken idea that if Montgo: cannot get all the way through to Decatur she 18 unwilling to budge a peg. Un the contrary, she thinks that the best way to get to the end of the journey ts to travel @ part of the way at a time, Sho 1s very anxious to get to Lime Station, because her taxpayers are paying taxes upon half a million of bonds which are lying bile, If King Whiting or King Sloss. cannot take us to Lime Station we will have to callin King Wadley or King Alahone. We @re not particular as to which shall wear the crown, 80 long’as we get the road. We have been hammer- ing at-this road jor fifteen years, and while the ma~ chine with tts organ attachments has been grinding out the tune of “Auld Lang Syne” great trees, one foot thick, have grown up on the road bed. Hurry OR read Hurry up, Wadiey | The tax- payers of Montgomery are waiting for you. They are paying $40,000 taxes upon haifa million of bonds, and they wish to get out of the mire. Come over and heip us! ANOTHER GREAT COMMERCIAL TRIVIPH. ‘The Atlantic Ocean and the Mississippi River Join Hands, [From the Vicksburg (Miss.) Sentinel, Dec. 23.) One of the greatest drawbacks to trade and to the rapid development of énterprise in this city—and not only has it been feit here, bat it has exerted its bane- ful influences upon trade all throughout the South has been the want of through ratiroad lines to con- ‘nect the it mart of America, New York, with the trade conducted among us, By the old system ship- ments of is Were 80 long in reaching thelr desti- nation that much valuable time has. been lost and the demand for the goods so shipped has been dwarfed. We ave long re- alized that we have at our commaud tie elements of this beneficial enterprise, and that it only required properly directed effort to develop it. 0 completion of the Kome road has proved the connecting link, and at once energetic eifort was made to accomplish this \d result, The mer- chants of our lly and Jackson have long looked anxiously forward to the time when the Mississippi river and the Atlantic Ocean might be linked to- gether by one unbroken line of railway, where unity of action and harmony would tend to bring about this much desired purpose. The necessity of it has een go imperatively felt that futile efforts have been made to accomplish it in the ast, but unforvunutely these efforts were unavailing. Bue we are gratified in able to announce that through the indefatigable efforts of the officers alo: the line the last obstacle has been removed, and that to-day @ line is in ‘operation by which goods have been shipped from New York via Chariesion and de- livered in Rome, Georgia, in four days, and slang the line of the Selma road in five days, and coul have been delivered in this city in six days. A ship- ment of cotton was made over this line by Messrs. Lamkin & at on the 16th just, which was received in Charleston on the 20th, just four days interval. This shipment beyond a doubt will pe delivered in New York city on the 2ith ist., and could have reached that city two days earlier but that 1t missed the Charleston and New ‘ork steamer, and was therefore compelied to re- main in Charleston awatl shipment by a steamer which left two a ence oe oe a ‘ee the lowest, be! m New You toe: Mahe] aad clues freight, $227; second class, poun 2 01; thi ings, $1 fourth class, $107. One Pachdvani Y Session y this line 4s that there only one tS Pent between this city aid New York, and that occurs at Charleston when trans ferved from the steamer to the cara. TRAGIC AFFAIR WEAR CHATTANGOGA. Four Men Killed on Account of a School- boy Being Whipped, A despatch from Chattanooga dated December 28 farnishes the following:— A tragic affair occurred on Salt creek, forty miles below @ few days since, the particulars of which are a4 follows:-it seems that Mr. Beane, school teacher, atte to whip @ boy named Hutehison, who resisted and left school. A day or ung Hutchison, acco: by @ man named Smith, visited the for the avowed purpose of c but not finding him therg they his Ls gi Beane a and, anticipatti errand, arm \- so did Me) ogre, ‘who happened to be at the house. On their arrival Hutchison said they tn- tended giving him (Beane) @ thrashing, Moore re- monatrated, When Smith iy) & pistol and shot him coming, self, an 01 ead. ‘This was al for all to produce pistols, Beane hot and nekantly killed Cyrus atehieon prover of the schoolboy. He weal fired when Smith, who had instantly killed Moore, fired another barfel of his repeater at Beans; the ball struck, but failed to immediately disable him. Beane then tarned on Smith and i three balla in his , inflicting wounds which resuited mor. tally ina few minutes, Twenty minutes alter the affray commenced Moore, Beane, Cyrus Hutchison and Smith lay dead on the ground within a few feet of each other Hutchison’s brother was the only person who escaped unhurt, (a NEW JERSEY.’ Jersey City. Deara or THE EX-CHtEF OF PoLice.—Joseph Me- Manus, Chief of Police prior to the present incum- bent of that office, died yesterday morning in the forty-seventh year of his age. His funeral will take pace afternoon and will be attended by Mayor and Common Council. THe PavONIA Horse RatLRoap.—The Pavonis Horse Railroad Company having been refused per- mission to lay a single track on Pavonia avenue at the instance of the J City and Bergen Horse Railroad company, on iA, has eon entered fnto by which companies siall use the track already laid. Mr. Jay Gouldig a i of this rail-- Hudson City, BROKE HIS ARM ON THE loz.—Onsunday afternoon several boys were skating on the pond near Lyon's woods, West Hoboken, when one of the lads, named Charles Dobbyn, fifteen years old, fell and broke his left arm. He was carried house where ceived medical mlcndanon nad wen afterwards cos: veyed to the residence of his uncle at Guttenberg. The boy’s parents are residing at Peoria, IL. Bergen City. Dakin BurcLary.—The residence of H. McKay, at the corner of Vreeland street and Bramhall ave. nue, was entered on Sunday night by burglars, who: sacked the house and carried offa number of arti- cles valued at $1,000. Mr, McKay thinks chloroform must have been administered to himself and his family, as they slept more soundly than the: for years. Mra. Mc compl if 3 terday morning. About four o'clock yesterday morning a negro was arrested on co! off the Cortlandt street ferryboat at New York, and in his apension were found many of the stolen articles. le was conveyed to the Leonard street police station and locked up to await examination, q Newark. SINKING OF A PROPELLER.—The tugboat Quick- step sustained alarge breakage im her hull afew evenings since, and sunk at her wharf, near Fagin’s mills, She has since been raised and workmen now engaged repairing the fracture, iad Court oF SESSIONS.—The dusky disturbers of “Mexico,” ten in number, whose names have al- ready been given, were arraigned at the bar of this court yesterday, and in every case pleaded not guilty. They were remanded to jail for trial, which takes place next Monday. In connection with this matter itis proper to state that the public are anxious to know why some of the Germans, who acknowledge being the incipient movers in the aifray, have not also been brought before the court. Among the other cases sentences were passed on Sarah and Anna Cole, shopufting, fifty dollars fine each; Frances Warren, entering and stealing, three years in State Prison; 'Joun W. Peck, same offence, same sentences George Wilson, receiving, one year im State Prison;. William Smith, same crime, similar sentence. A few other minor cases were adjudicated upon. BURGLARY IN MULBERRY STREET.—During the ab- sence of Mr. J. W. Heston from his room in the boarding houseg No. 250 Mulberry street, on Sunday evening, the door was broken open and a box con- © taining $200 in silver coin, $50 tm currency, a bank book representing $2,000 and a note for ¢1,000, besides other papers of value, carried off. Suspicion was atonce directed to a youth named John Hop- pings, & recent arrival in this city from and ne bee ey Agi Lie house. re e failed gee up on Sunday ni ut was yesterday arrest detective Smith when en route for E!izabeth, tee track of the New Jet Railroad. A portion of the money was discove! in his possession and the other property recovered at points where he had secreted it, He is about eighteen years of age and was committed for triak ANOTHER ALLEGED’ QUEER OPERATOR IN Ous- Topy.—Some week or ten days ago special detective, Wambold, of the Morris and Essex Railroad, “hap- pened” to be present at a place called Port Murray, im Warren county, while one employé of the road ‘was negotiating for the purchase of a silver watch. with another, an Irishman, in which a poor imita- tion of a twenty dollar United States legal tender note was offered in ‘ment. Through unavoid- abie circumstances the arrest of the ‘pusher’? had to be postponed, and when ‘wanted’? he was nowhere to be found. Yesver- however, Chief of Police Moore, of Morristown, with whom a personal description had been jeft, found the man in Morristown, and con- veyed him to this city and banded him over to detec- tive Wambold, who had previously obtained sion of tue note and @ companion one, which he found on the person of the alleged “pusher.” The latter 1s & young man of about twenty-one year: aud gives the naineof John Van Orden. He is hel im tue City Prison for examination before United States Commissioner Whitehead. itis snougas that this arrest may lead to some important disclosures, Paterson. Crry Hosprrat.—The city authorities of Paterson are now discussing the propriety of erecting a city hospital, | necessity for which became more evi- dent yeste by the discovery of a poor family of Hollanders in. the basement of No. 135 Mechanic street in very destitute circumstances, The wivle fanmtiy ‘were’ sick, and when visited one was found deai and another dying from sickness and want, With gol a penky 60 purciase fuel, food or medicine, Passaic County Cousts.—Willam Ofner, who was arrested notlong since, charged with being the receiver of sulk stolen ‘fromt the Greppo ‘milis in Patergon, was yesterday arraigned on three indict- ments. He pleated not guilty and was released on $0,009 bail for his appearance. James Kavanagh pleaded not guilty to assault and battery, Joseph Whiichead was fined ten dollars for setling hquor on election day. In tae Supreme Court the ease of Richard Benson agaust the Society for bsiabkishing Useiul Manafactures 18 likely to remain on for several days. % Orange. + Diep FROM FROST AND WiliskkyY.—The dead bouy of an unknown man was receatly found here under circamstances that prompted tie holding of an inquest. The result has been to discover his iden- tity. He was a hatter by trade and named Grim- shaw. The coroner's jury returned a verdict \o Lie efiect tnat the dece: came™to his death from the effecis of frost, combined with whiskey. ‘Trenton. Exr.o3ion IN A ROLLING MILL.—Yesterday after. noon one of the pipes in connection with a huge boiler in rolling mill burst, ta consequence of a deficiency of water, but no damage. of any magni- tude was sustained. Rumor had it that the poiter itseif exploded, and as a bumber of meu are at work there the report created quite an exeiiement for a time. ’ Tar State Prison DivvicuLty.—On Saturday jast the convicts in the Shoe Department manifested a tendeacy to become tnsubordinate again, but har mony was perpetuaied by the prudence and deter- mination of the keeper. Mr. Bergen, the old Super- intendent, thougi gut sudicientiy couyalescent, yet, in cors:deration of the critical state of affairs in the institution, resumed his duties yesterday to the sa- Usfaction of both ollicers aad convicts, and all is guict Once Wore. Letter (rom an Officer on Board the United _ States Ship Canandaigua, [From tife La Crosse Democrat, Dec. 24.) From a private letter writtea by Midshipman C, B. Meeker on board the United States ship Cauan- daigua, at present cruising ou the Atricau coast, we have some inwresting lems conceramg the Cape Verde islands, which belong to the Portuguese gov- ernment. ‘The letter is dated at Porte Grande St. Vincent, one of the islands of that group, and it says:—"The islands are very barren and in- hospitable, being devoid of water and vegetation of epee ion. At the entrance of the harbor there is a high point of jand whieh would be calied a viud im Wisconsin, but which here bears the eupnonious tite of Washing- ton Peak, #0 called from the strange fact of its being an exact profile of the ‘Father of our Country George Washington, with the face turued upwacl, ‘This isiand has no commercial lportance, it being simply a coaling station for several ues of steamers running between Sngland, Frauce and Braz, A litte frait may be found here, which ts brought from the neighboring islands—-not being cultivated, but growing in patches in the Interior. - There are two or taree white families on the island, the remainder of its inhabitants being black as ebony, and the children wear nothing bat a shirt to cover up their in reaching the island =we din sight of the jamous Peak of Ten which is over two miles in height, but belng on & high isiand only the cone is promi- nent, and yet it may be seen 109 miles in clear weather, ese islands are ali of volcanic origin, which fact may account for their barrenness.” * As the Canand: entered the harbor she passed ascnool of those marine curiosities called ing fish, and they looked exactly like @ flock of birds as they flew past and around the ship, Their bodies are eight or nine inches in length and have the appearance of silver; their wings are about ive inches long, but the fish'can fy only so long as thelr wings remain damp, The Canandaigua is on het way home. She will touch at St. Helena and Barbados, and proceed directly to New York, which reach some time during the month of Gee a en cantgy We, An, Hapor rout for jon a " ‘ taut suit, removed from the Court of Clarke county, waa heard before J ro by counsel on both sides. the poe tof land in Clarke county, v: 50,00 “he tite to whioh had quietly re: ced with ite resent owners for more than fifty years, ‘The caso hag just been disposed of by the Jadge, in vacation, who decides in favor of the vefendauts by the dis missal of the complainant's bil, with costs. ained of being ill yea.-