The New York Herald Newspaper, February 25, 1871, Page 5

. PEACE. A Treaty Signed by Thiers and Bisniarck. ‘THE =MONEY INDEMNITY SMALL Two Hundred and Thirty Millions of Dollars to be Paid. Alsace and Lorraine Ceded to the Germans. Metz and Nancy Included in the Cession. « 0 TRIUMPHAL ENTRY INTO PARIS, ‘The Emperor William to Leave for Berlin on Monday. ¥acts and Rumors Before the Signing of the Treaty. TELEGRAMS TO THE NEW YORK HERALD. Lonpon, Feb, 24, 1871. Through a special despatch from Versailles to the London Standard Iam enabled to for- ward you the following important intelli- gence :— A TREATY OF PEACE SIGNED. ‘The correspondent of the Standard tele- graphs that the negotiations for peace were ‘closed to-day and a treaty agreed upon and signed by M. Thiers and Count Bismarck in ‘behalf of their respective governments. He adds that some of the details are yet unar- ranged, but that all will be formally setiled to-morrow. THE TERMS. The terms of peace are given, and aro some- what different from those previously reported. Instead of the heavy indemnity said to have been demanded by Bismarck all that France pays to Germany is three hundred and twenty millions of thalers (about $230, 400,000), ‘The territorial demand is larger than was ex- pected. The provinces of Alsace and Lor- raine, including the cities of Metz and Nancy, are ceded tothe Germans. It will be remem- bered that Bismarck’s first demands did not inelude Nancy, which is situated in French Lorraine, and is in every respect a thoroughly French city. NO TRIUMPHAL ENTRY INTO PARIS. In view of the conclusion of peace the Ger- mans have decided not to risk a collision with the Parisians, and, consequently, Count Bis- ‘\ -marck has agreed that the German army shall mot enter Paris, THE EMPEROR'S RETURN. ‘The war being over, the Emperor of Ger- many will leave Versailles on Monday next, on his return to Berlin. BEFORE THE SIGNING. Wothing Koown by the Bordeaux Govern- ment—Beigina False Reporte—Warning the Srench Poople—German Financiers § in Paris—The Indemnity—Thoe Decisive Inter- view on Saturday. Lonpon, Feb. 24, 1871. For the information of the readers of the Wew York HerarpI report that a despatch ‘from Bordeaux dated to-day states that no smews has been received in that city yet re- ‘apecting the peace negotiations in progress at Versailles. The silence of M. Thiers and the other members of the Peace Commission ‘will be maintained until the conditions of peace are fally decided on. 3 BELGIAN REPORTS INCORRECT. A Berlin telegram of to-day’s date states that the Prussian Cross Gazette, of that city, in an article on the prospects of peace, says that the despatches published in the Belgian journals purperting to give the conditions of ypeace now under censideration by the authori- ties of the two countries at Versailles are . altogether incorrect, Sire, AINST FALSEHOODS, “WARNING THE FRENGH iG, " ‘wn the same subject of the rumors afloat & \elegrem from Lille says that a\despatch has been received in that city from the French government at Bordeaux, which warns the people against giving credence to the reports made public as to the conditions ef peace. ‘The terms, the despatch says, cannot yet be known. ‘ GERMAN FINANCIERS IN PARIS. 'Two German officials, Count Henkel and ‘the banker Blasich-Schroove, have gone from Versailles to Paris for the purpose of discuss- ing the financial question of the peace condi- tious with M. Thiers and other members of the French Commission. It is stated that Count Bismarck demands for Germany a war indemnity of six millierds of francs (twelve hundred millions of dollars). From this sum, however, the German Chan- cellor agrees to deduct all the war contribu- tions which have been levied upon the French people since the war began, M. Thiers op- poses this demand and proposition vigorously, and a conference is necessary to setile the question. MORE ABOUT THE INDEMNITY. The London Telegraph has a despatch from Paris, 23d, as follows: — All the conditiens of peace are now settled . except that of money. The Germans demand a offered to pay one milliard. The Germans have allowed seven hundred and fifty millions for requisitions and fines and the debts of Al- sace and Lorraine, but hold out for one anda quarter milliards. A friendly arrangement is anticipated. THE DECISIVE INTERVIEW ON SATURDAY, The Daily News says that M. Thiers and his colleagiiés were to leave Paris for Bordeaux on Thursday and will confer with the Assem- bly on Friday and return to Paris on Saturday, when they will have a decisive interview with Count von Bismarck, ANTE-PEACE RUMORS. Unfavorable News from Versaiiles—The Ger- wans in Motion—Bismarck Fins Doubts— Hostilities to be Resumed—Cannon Turned Toward Paris. Lonpon, Feb, 24, 1871. I am enabled to report to the New York Herarp that this morning a despatch from Amiens reached here, which created some excitement. It stated that unfavorable news had been received from Versailles touching the peace negotiations, and that in conse- quence the German troops were already in motion. NO PEACE TO BE OONCLUDED. Following upon this startling report came the evening edition of the London T'imes, which seemed to confirm the Amlens despatch. It contained a special telegram from Versailles dated to-day and worded as follows :— Count Bismarck has doubts of the conclu- sion of a treaty of peace at this time. France has asked for a prolongation of the armistice, but hostilities will be resumed at midnight of the 26th inst. All the guns of the detached forts sur- rounding Paris have been turned towards the city. A long conference was held to-day. ENGLAND. Mr. Disraeli on the Foreign Policy of the Cabi- net—Looking to the East and the Policy Towards Prussia and France. TELEGRAMS TO THE NEW YORK HERALO. Lonpon, Feb. 24—Night. Inthe House of Commons to-night Mr. Disraeli Made a powerful speech on the foreign policy of England. He urged the House ‘‘to consider the giavity of the Eastern question and the serlous con- sequences of Russia’s repudiation of the Treaty of 1856, which it had cost England such sacrifices to make.” He said “it had been generally believed that Mr. Odo Russeil’s errand to Versailles was to announce to Bismarck that England stood ready to join Prussia in opposiay Russian repuatation. Now it seemed the goverument dented that such was the object of Mr. Russell's mission.”” Mr. Gladstone replied tn strong contradiction to Mr. Disraeli’s inferences, and expressing “surprise that the right lonoravle gentleman should conde- scend tohéed and repeat tlie rumors on which they were based, The idea of a proposal to estrange Russia at @ moment s0 critical by gratuitous lan- guage was simply madness. The London Con- ference would hear Russia’s case in all fairness and act on it with justice.” ‘The Premier declared that ‘there was no truth in the report that a messenger had beep sent to Ver- sailles to copgratulate the Prussian priaces on their victories.” INDIA. Mr. Grant Duff laid before the House the Budget for India, which isa highly favorable statement of the financial coudition of the country. Executive Honor to the Governor General of Canada. Lonpon, Feb, 24, 1871. Tam enabled to aanource te the HERALD by cable telegram to-day that his Excellency the Right Honorable Lord Lisgar, Governor General of Canada, has been appoluted Lord Lieutenant of the county of Cavan, Ireland. The duties of this oMce have been administered by the Right Honorable the Marquis ot Heaatort, Lord Lisgar, better known in Ireland as Sir John Young, represented the county of Cavan in the House of Commons, and has his residence at Baile- borough Castle, in that district of the kingdom. He is married to a daughter of the Marchioness of Headfort by her first husband, and both are favor- ably known to the people of Cavan. “A Bree Church in a Free State.” LONDON, Feb. 24, 1871. Acrowded meeting was held in the city last even- ing in favor of “ihe disestablisnment of the Church of England in England proper, as has been accom- plished in Ireland.” LONDON, Feb. 24, 1871, The cases of smallpox are still increasing a: Liver- Pool. The Cotton Supply. LIVERPOOL, Feb, 24, 1871. ‘The bark Sea, from New Orleans January 8, with 2,227 bales of cotton, arrived at this port to-day. Ee A Brazilian Imperia! Loan. Lonpon, Feb, 24, 1871. Ihave to report that a Brazilian government loan of three million pounds sterling has been introduced ja the London market. “ete: ale, Sohmeider. _ a. +, Lonpon, Feb. 24, 1871. Areport which has pee circulated of the death of Mile. Schneider, the French actress, proves un- founded. Arrival of the Algeria. QEEENSTOWN, Feb. 24, 1871. The Ounard steamer Algeria, from New York tor Liverpool, arrivea to-night. AUSTRIA. Variance of the Parliament with the Cabinet. TELEGRAM TO THE NEW YORK HERALD. VIENNA, Feb, 24, 1871. In the parliamentary report to-day I find a state- ment ef the fact that the lower House of the Reichs- rath has the resolotion submitted by a com- mittee of the body in favor of a levy of taxes for March, although the new Minis'ry had pressed the adeption of the government proposal to sanction a tax levy for two months. ALGERIAN REVOLUTIONISM The French “Stamp Out” Native Republicanism. TELEGRAM TO THE NEW YORX HERALD. LONDON, Feb, 24, 1871. suppressed b; of tie movement. j= oii y A BRITISH SCHOONER SEIZE Eastport, Me., Feb. 24, 1871. The revenue cutter Vigilant, Captaia Freeman, seized yesterday the British schooner Martaa Ann for violating the coasting laws. I can state to-day, In confirmation of my previous report by cavie to Tie HERALD, that there has been, undoubtedly, an insurrection in Algeria; but it was the French troops, the commander taking immediate measures against the promoters The Orleans Princes on French Soil. A Conflict Inevitable if the Germans Enter Paris. Occupation of Honfleur by the Germans. REQUISITIONS ON THE FRENCH STOPPED, Garibaldians and Free Corps Disbanded. The New Government Recognized by the Pope. TELCORAM TO THE NEW YORK HERALD. Lonvon, Feb, 24, 1871. A telegraphic despatch from Bordeaux, for the New York HERatp, reports that the Or- leans princes are at present They are staying in the Department of the Gironde. in France. A ROYAL VISITOR. A telegram from Stuttgart states that the King of Wiirtemberg has left that city for Versailles and will probably be absent until the 5th of March A HINT TO APPEASE THE PARISIANS. The Brussels Nord says that Count Von Bismarck hints at the restoration of the Paris impost of two hundred millions of francs if no hostile manifestations are made during the passage of the Germans through that city. A CONFLIOT INEVITABLE. A letter from Paris, 22d, says a conflict is expected should the Germans enter the city. It was believed the Assembly would be con- voked on Friday or Saturday of this week. VIOLATIONS OF THE ARMISTICE. A despatch from Havre says that great indignation is felt at the fact that the Germans have ocexpied Honfleur, which was stipulated by the armistice to be neutral ground. OESSATION OF REQUISITIONS ORDERED. The Journal de Paris says that Count Von Bismarck, at the request of M. Thiers, has or- dered the cessation of requisitions upon the inhabitants of all sections, and has declared that all contributions levied since the 28th of January will be deducted from the French in- demnity. MORE CONTRIBUTIONS IMPOSED. A Havre despatch states that the contribu- tions imposed on Alengon remaining unpaid, the Prussians have seized the stocks of mer- chandize in the principal shops. The amount of the requisition made by the enemy on Honfleur is 545,000 francs. GARIBALDIAN AND FREE CORPS DISBANDED. The Journal de Macon publishes a state- ment to the effect that orders from the goveru- ment at Bordeaux to General Penholt direct that officer to dissolve all the corps of Gari- baldians in France and to disband the free corps (franca-tireurs) under his command. HOSTAGES RELEASED, A Bremen telegram of to-day’s date reports that a telegraphic order has been received there from Versailles directing the immediate liberation of all the French ‘hostages held in that city. REQOGNIZED BY ROME. A despatch from Bordeaux announces that the new government of France has been recognized by the Court of Rome. THE OLERIOALS OPPOSED TO PARIS. The clerical party in the north of France, says a despatch from Lille, are opposed to the proposed transfer of the French National Assembly from Bordeaux to Paris after the conclusion of peace. - GENERAL SHERIDAN. A Bordeaux telegram of to-day’s date states that General Sheridan, of the United States Army, left Marseilles yesterday evening en 16 BE DIBBANDED. Advices from Lille report that as soon aé peace is proclaimed the Twenty-third French Army corps will be disbanded. 1TEMS FROM VERSAILLES. The following items of news have been re- ceived from Versailles to-day:— Paris is quiet. M. Thiers is expected at Versailles to-day. The department of Calvados has been placed under the command of a Governor General. AID FOR THE FRENCH. The Report of the Committee at the Chamber ot Commerce Meeting Yesterday. The French Relief Committee of the New York Chamber of Commerce make the foliowing state- ment and appeal to the public:- ‘The Comittee for the Relief of Starvation in France has placea on the United States ship Supply the four aad other dividual douors. beef, canned meat, fc. “Each barrel and case bas been branded “itt of New ded #G1tt of Raving been Porehaned with funds recelved from that city, ‘The committee is in receipt of many offers of free fr ig of the Weat, also of storage, cartage, lighter fervi oo of broker, Mevodores and elevators, ail barge. The committee now mont earnestly appeals to the people Fe aean ee gations of four and otaer provisions, These fre coming to the committee from some of the Western cities, each barre! branded with the name of the city giving. it, Let every city, town and viliage in this country have its name Shrofied'sa the committee's books aud marked on packages of (00d, seeds or clothing. greatly neewed, tp Supply will sail. next week and another govern- ment ait or Reamer will be placed nt the commitcee's dis- pounl. "Next Wednesday a mewber of the committee wil poo Europe, at his own expense, to co-operate with com- Eittves thete’ to aceuro the most careful and eficient dis- telbution of funde and supplies contributed here, Pot there be no delay in forwarding further contributions forthe milions of augertng women, and enlidren ta the desolated agricultural districts o : WWUTARLES H. MARSHALL, Chair ANSON PHRLPS STOKES Hiney W, Brccows, 4 Secretaries: CHagies LANieR, Treasurer u any C Spring wheat for seed .NEW YORK HERALD, SATURDAY, FEBRUARY 25, 1871. CENTRAL AND SOUTH AMERICA. WASHINGTON. Herald Special Report from Jamaica. ARPAIRS IN > COLOMBIA. CONDITION OF The Boyacer Insurgents Defeated and Dispersed. Hfonduras and San Salva- dor at War. NICARAGUA = THREATEN COSTA RICA, TELEGRAM TO THE NEW YORK HERALD. Kuvaston, Jamaica, Feb, 24, 1871, By the arrival of the steamship from Panama I have received Central and South American dates to the 21st inst., which I forward spe- cially for the New York Heratp. AFFAIRS IN COLUMBIA—THE GENTS BOYACER DISPERSED, INSUR- A severe fight has taken place in Saruca, in the State of Boyacer, between five hundred men under Reyes and eight hundred under Chaparros, The State troops were defeated, with the loss of one hundred hors du combat, fifty being killed, Perez escaped to Santan- der and Reyes was made prisoner. Peace has been restored. CONGRESS, Congress will meet on the Ist at Aguitar, with Parna as President of the Senate and Lino Bernal as President of the House. AN The Crusader has broken mainder ot her cargo is lost. ACOIDENT. intwo. The re- THE DARIEN SURVEYING PARTY. The United States steamship Nipsic arrived at Panama on the 8th and sailed for the Atra- to river on the 14th. The surveying party is well. Selfridge, in the Resaca, sailed for the Gulf of San Miguel on the 15th. GENERAL ITEMS. The water contract is signed. It is officially stated that four natives were killed in the fight at San Anares. Soldiers have been sent to restore order. The death of Mosquera is contradicted. The Rising-Star sailed on the 19th. HONDURAS AND SAN SALVADOR AT WAR, Honduras declared war with San Salvador on the Ist, an¥ on the 9th six hundred troops were within two days’ march of San Miguel. San Salvador is virtually in revolution against Duenas, The revolution and the Honduras war are controlled by the same leaders, Duenas likely to leave the country and ask the other republics for mediation. The principal gene- rals have deserted Duenas and joined the Honduras party. Guatemala will not inter- fere. A LOAN AND CROPS. Salvador asked for a loan of $40,000 and got $41,000. The Salvador sugar and coffee crops are short. If there is war but little in- digo will be planted. NICARAGUA, Nicaragua threatens to seize Guanacosa from Costa Rica ag indemnity for the canal treaty. Vicenta Juadra has been elected President of Nicaragua, The coffee crop is short throughout Central America. American men-of-war are wanted at La Libertad. There are none on the coast. AFF AIRS IN PERU. Advices from Lima are to the 14th of January, and say that Congress adjourned, and that Bolivia has withdrawn her offensive note. The Lima exhibition is postponed until the 9th of December. BOLIVIA, In Bolivia. peace has been restored, and Morales is made provisional President. Mala- grejo escaped into Peru. His adherents were not persecuted, CHILE. Chilean dates are to the 3d of January, and announce that the election of the aati-church candidate is almost certain. Return of the Captain General te Havana. Havana, Feb. 24, 1871. Captain General Vaimaseda returned to the city this afternoon. Sugar active at 104 a 101 reals per arrobe for No. 12Duch standard. Excitange on London, 16% per cent premium; on the United States, sixty days’ sight, In currency, 7 per cent discount, and in gold 4 a6 percent premium. ALABAMA LEGISLATURE, MontcomERy, Feo. 24, 1871, ‘The following resolution passed tbe House to-day, and it is thought will pass the Senate to-morrow:— ‘Toat the Governor be and he is hereby authorized and re- quired to inquire into and ascertain the amount of bonds Toanea to the Alabama and Chattanooga Retiroad Company, and of the bonds of sald company endorsed by the Btate, and when such amount {s ascertained the Governor shall make provision by a temporary loan, or from moneys in the State ‘appropriated, ito pay the interest the conpons attached be presonted to bim, or to any may appoint for that purpose, provided that no hall be paid upon any of said bonds not proved to on the Ist day of January, 1871, by innocent and bona fide purchasers. Provided further, that no interest shall be paid upon any of said bonds in the hands of said railroad company, or merely bypotheoated by them, any fncorporator or agent thereof, it being the object and intent of this enact ment to pay interest only to innocent and buna side pur chavers of valid claims agatnat the State. VIEWS OF THE PAST. FEBRUARY 25. 1870—A train on the Mississippi Central Ratlroad thrown from the track into a ravine forty feet deep and twenty-five SS kulled, 1863—Dupont’s powder mills at Wilmington, De!a- ware, blown up; thirteen persons perished. 1831—The ey defeated the Russians in the battle agent bh interest be held of Grochow. Died. WsLs8.—On bree February 24, THomas, young- est son of R. T. and Mary Weish, aged $ montrs aud days. : Relatives and friends of the family are invited to attend the funeral, on Sunday afternoon at hali-past two o'clock, Irom 96 Columbia street. {For Other Deaths eee Sixth Page.) MIDNIGHT SESSION OF THE SENATE. Fierce Struggle Over the En- forcement Bill. Senator Carpenter's Report on the Paeifie Railroad Difficulties, WASHINGTON, Feb, 24, 1871, Filibustering in the Senate—An All Night Ses- siou—Struggle Over the Enforcement Act. The Senate, at the tnstance of Mr. Conkling, latd aside the ppprepriation bills to-day for the purpose of cousidering the bill to enforce the right of the citi- zens of the United States to vote in the several States. The provisions of this measure were set forth in the HERALD a few days ago, when ft passed the House, It is purely partisan in ita character, nd is intended asa final chapter to a series of acts, all passed with the view of keeping the democrats from cheating at the polls, This is the republican view of it, The democrats regard it a8 another Movement to absorb the rights of the States and centralize them In the general government, By the terms of this bill the conduct of elections 1s to a great extent taken out of the hands of the State and local authorities and placed under the control of federal oMctais. The democrats tn the House pro- tested as best they could against the passage of the bill; out, through the operation of the previous question, their agony in that body was soon over. ‘There being no previous question in the Senate, and no means of stopping denate, the democrats in that body are determinea not to allow the bill to pass until each of them has had his say, and unti! the physical endurance, not to say the patience of the Mpublicans, has been fully tested. AS soon as the bill was taken up to-day Mr. Vickers, of Maryland, obtained tne floor, and proceeded to real @ very long and a very prosy speech. In ten minutes he succeeded in emptying the Senate Chamber of all the republicans and of all the democrats, too, with the exception of Johnson, of Virginia, who was set down on the bills to follow Vickers, There being a compara- lively smail number or democrats in the Senate, they have found it exceedingly dificult to keep up the talk. They hope by the ald of relays, each one taking his turn, to be able to hold out until morn- ing. In the meantime the repubitcans are taking it easy, waiting for the democratic orators to exhaust themselves, when they hope to get a vote and to pass the bill, The trouble with the demo- Grats is that they have to do all the speaking and will become exhausted much earlierin the figut than their opponents, During the debate Mr. Blair addressed the Senate ina speech of half an hour, during which he said the election of Grant by the aid of the army in the Southern States was identical with the coup @état by which Louis Napoleon acguired power, and that Grant would yet use the bayonet in New York as relentlessly as he had used it in Mississippl. The purpose of the bill, in his opinion, was to ena- ble the President to re-elect himself by driving the democratic party from the polls in New York city ‘at the point of the bayonet. He went on to speak of the election to high office of military commanders, one of whom was now in the Senate by the use of the solaiery under bis command. nt Protracted Cabinet session. The session of the Cabinet to-day was continued until after three o'clock, the time being principaily occupied in considering matters relative to internal improvements in the West. The ratlroad schemes were talked over and the Indian peace policy came in for a share of the discussion. Coal and the Duty. Representatives Brooks, Wood, Fox and others are making efforts, through ap appropriation bill now pending, to abolish the duty on coal. Mr. Sco- field, of Pennsylvania, tn the chair, ruled them out of order. Mr. Brooks appealed to him as a Pennsyl- vanian to be liberal and allow free coal; but, in a parliamentary view, Mr. Scofield ts justified by pre- cedent and the rules, The New Steamboat Bill. The Steamboat bill which has passed voth houses of Congress and awalts the President's signature 1s more careful and striagent than any similar law heretofore enacted. Among its provisions it requires steamers to attach suitable steam pipes agd valves to the boilers to convey steam into thé hold in‘case of fire. All woodwork exposed to fire from stoves, furnaces, &c., is to be protected by some incom- busttble material, and special care is to be used in the procuring of life-preservers and life-boats, Hay, cotton, benzine, pewder and like dan- gerous articles are to be placed beyond danger of fire by the machinery, and watchmen are to be kept continually on the alert to guara against disas- ters. Boilers and machinery are to be more care- fally inspected, espeeially such parts as are subject to spectal strain or accident, and all oMcers of the boats are to be examined as to their characters, skill and capacity. Seageing and lake passenger steamers, the bullding of which shall be commenced after six months from the passage of this act, shall have not less than three watertight cross bulkheads, to be made of tron plates, sustained upon tron framework. Any officer or employs on board of any steamboat, by whose negligence, misconduct, neglect or inattention to his duties the life of any person shail be destroyed, shali be deemed gulity of manslaughter, and, upon conviction, shall be sen- tenced to not more than ten years’ imprisonment, The hull and boilers of every ferryboat, canalnoat, yacht or other craft propelled; by steam are made subject to the provisions of this act. The bill ts a very long one, and covers almost every detail of the building and Management of steamers. Senator Carponter’s Report on the Relations Between the Government and the Pacific Railroads. . Senator Carpenter made a report to-day from the Committee on the Judiciary, who were authorized by @ resolution in December last to inquire and report whether the railroad companies which have received aid in bonds of the United States are law. fally bound to reimburse the United States for the inte % paid on such bonds before the maturing of the Pina ipal mere and, £9 what legislation, if apy is mecossary doi sugy relmpbursement; and by a resojution of February 16, 5 ree in- struc(éd to indutre and report Bf te the right of the Treasury Department to retain all the compensation for services rendered for the United States by the Union Pacific Railroad and its branches, to apply on the interest of the bonds issued by the United States to aid in tne construction of said road, The report commences by citing the firth section of the act of 1864, upon which the question arises, and construing the effect of that section to require the railroad companies to repay the bonds and in- terest not absolutely and in the ordinary course of business, but asin hereafter the act moves It also provides that the Secretary of the Treasury may take on of the mertgaged premises on the refusal of the company te redeem said bonas, or art of them, im accordance with the provisions of this act. But as this section neither provides for the manner in which the priactpal and interest shall be paid, nor the manner in which said ponds, or any part of them, shall be redeemed, we must look else- where in the act for such provision. We find it in section six. a follows:— Sro, 6. That the grants aforesaid—that is, the lands and the grant of bonds—are made upon condition that ‘said company shall pay said bonds at maturity, and shall k Said railroad and telegraph line in repair an at ail times transmit des; over said tel transport mails, troops and munitions of war, supplies and public stores upon said railroad for the governm en- ever required to do so by mf department thereof, and that the government shall at afl times have the precerence in the ‘use of the same for all the pur aforesaid ; ‘and all compensation for services rendered for the govern- ment aball be appited tothe payment of said bonds and the interest until the whole amount {8 fully paid. Said company may, also pay the United States wholly or in part in the same or other bonds, Treasury notes or other evidences of debt ‘Against the United States, to be allowed at par; and after said road is completed untli sald bonds and in| are paid at least five per cent of the net earnings of said road shall be annually applied to the payment thereof. In other words, the preceding section, in saying that a mortgage shall be created to secura paymant as hereinafter provided, and that the Secretary may seize the road if the company shail make default {n redeeming the bonds or any part of them in a nce with the provisions of this act, refers to the sixth section, which deciares when and how the payment secured by the mo: all be made and how the bonda shall be redeemed, Turning to that section we read as follows :— Fird—Satd company shail pay sald bonds at maturity; that ia, said company shall pay said bonds in thirty years from their date, because then the bonds mature. In common speech and tn legal language a bond matures when the prin jpalor some part of it falls due. A coupon bond Is not matured or part due when {te first coupon is due. A bond with overdue coupons attached, if the principal sum be not due, {6 atili a negotiable instrument and the statute of limita thon does not begin to run even upon the first coupon anti the bond iteelf—that is, the principal sum secured by the \—becomes ere 18, therefore, ao analogy between such a bomd and » note or where the principal sum is payable by instalments. (City 5 — va Lamson, 9 Wall, 477.) VM, therefore, an act of Com fro refers to the maturt’y bond tt must be consirond mean the time when the pr pal bond falls due; this would be tha i," unvertaking by Ato pay to & the failed to pay it at te maturity. it eo i mean noth because (he bond dies got mature aus? principal sume fail due, Tho opinion of Judge Nelson in City vs. Gawtson, in the Supreme Conrt of the United Staten, 1 then quoted sbowing that a coupon ts not an independent fnstrament, fat ia « of the Lond, and evidence only of thé cowenant in the body of the bond, adopted for mers Oe, The report then contiaums:— trae of a coupon bond would be true Tegistered | bond, as | the | bonds tamed a of this road are understood 40 have — bees fare the provision—sald company aball pay said bonis» t only the principal a Before quoted tron | bonds at — maturity””—that of the bonds. ‘The company shall pay the bonda call for, or. in yet other words, in thirty years from the date of the bonds by shali pay to the U oited States the vrincfpai and Interest reoresented by the bouds. Had it been the intention of Congress to require tae com: ‘ould become due, tha act pany to pay the intel Abould bave read, « maturity, and the fhterest thereon aa It shal Tt may'be waid that the company, t maturity, and che bonds. thi intereat, the bond must be const ered to tas tt Mi company sail pay said Boat become dae," coupon paat due. nd, ff, when a year's tus, thee bond could be considered as matured pro tanto, thea of Course the statute of imitations Would commence running, upon the bond in so far as it represents such intereat, which asalready seen ta not the case. The word ‘maturity"' re- lates only to the pricipal sum. ‘This is the law even in rel tlon to promiasory notes, A note payable in terest payable annually, 8 not barred byt tatlons wa tu any part of the Interest until six years after the prineipal sum falls due. This view Ie — consity ent with if not strenghtenei by the phraseo logy of the fifth oh, which creates mort- age to secure there payment of the bonds, together with all tnt thereoa whlch shall Lave Dald by the United which shall have 4 when mant- fested at the time when the company Is compelied to pay the bonds, Had it been {utensed to compel the company to pay the interest on the bouds as it should become dus the moxt patural phrasoology to express thes intention wodld hare been, “The mortyaze shall secure the repayment of sant come dua," but the phrase ts, “toge thereon which sball bave been’ paid bj which seems to imply that the United ing, then, that it is proper fn this case to search for the meaning of this act ontalde fis language, the proceedings fo Congress will be found entirely eouciusive. While the bill was betore the Senate Mr. Collamer, who had evidently scanned It with a professional eye, aud whore opinion the proper construction of an_ act rospectable authority, Moved to strike out in the A ection the words “as herein after provided,” and also the “when required 40 to do by tho Secretary of the ‘Treasury in accordance with the provisions of thin act." and tn snpport of his amendment, which probably would have made the bill what it is now claimed to bill impoatn, an absolate be, a “This bill cagrtos the Fepayment 67 this loan as gentlemen call I, quent section tt is provided that the payment shall be made fo the carrying the mails, supplies and military stores tor the government at fal and aiso that ttve per cent of the het proceeds or gains aball be set apart Cor the govern. ment, ‘That ts all the provision there is in the bill for ayment. There 14 & security attempted to be given in’ this section. It provides, beginning at the thirteenth line:—“And to secure the repayment to the United States, as hereinafter provided, of the amount Of suid bonds 80 lasued and delivered to anit company, to~ gether with all interests thereon which ball have been paid by the United states. ‘There ahall be a lien on the line of the road (she langnage I) as hereinafter provid ‘The only provision is setting apart five per cent of the net proceeds, So that if yon leave in these words you have really nothing @ security for your bonds, unless you get your pay in the carrying or the mails, a "if you do not get thai service it goes for nothing. The repayment is to be as. hereinatter provided, and the subsequent provision is for carrying the malis and gov ernment supplies, The debates und action of both houses are further quoted to show that the construction of the act now claimed by the government ia different from the intention of Congress. The following amendment from the act ef is6¢ is then quoted: "Only one-half of the compensation for services rendered for the government by the aula compantes shall ha required to be applied to the payment of the bonds issued bj the goverument in aid of the construction ot said roads.” [t 1f a well settled rule of constraction thas stALULes im part materia wre to be construed together, ‘and the provistona of one may be rererred to for the explana: tion of provisions in the other, bearing lo mind that Con- gress, by the former act, designed to encourage the invest- tment of cApital in this work, and that the act of 1864, as ap- its proviaions, was intended w be yet more favorable te the company. The provision above quoted can be understood tn no otner sense than that Congress intended the company from applying more than ai ompensation for services to the payment of nd that the other half should be paid ta rt What possible benetit would this ba th® company if the company was boun: 0 that and a much larger sum immediately back to the government to satisfy accruing interest on the bonds. It Isevident, 1rom the statutes themeelves, that the company is not bound to make apy payment in money on ‘account of these bonds, except the five per cent of net pro- ceeds, until the matur wid bonds, thirty years from their date, and it is equally evident, from the debates in both houses of Congreas when these acts were passed, that tt was the tntentton ngress so to frame them as to accomplish such @ result. Therefore, tn response to the resolutions of the Senate, {t must be answered—First, that the companies are not law: fully bound to retmburse the government any Interest pald by the government on these bonds until the maturity of the principal ot said bonds, except that one-baif of the compen- Sation for services for the government may be retalned by ‘and five per cent of the net proceeds of th = pears from all ove’ roads must also be annually applied to the payment o anid bonds, and interest second, that the Secretary of the Treasury has no right ta withhold from the company more than one-half the compen: sution due the company for services performed for the gor thereon appropriated; and ernment. ‘The second of the above answers {sa mere corollary from the first; but whether the first be correct or incorrect, whether the company is bound now to pay to the governs ft has paid on these bonds, nevertheless the pi 4 res in a0 many words at only one-half of the compensation for services rendered for the government by said companies shall be required to be applied” to the payment of the bonds issued by thé overnment in aid of the construction of said ronda. would bold dealing with the statute to an; that the Secretary of the Treasury youuire, what gress says shall not be required, . It may PESTS SRRaing the uabiity of the company now to pag the interest, equity would force a set-off, and ought not to'recetve from the government what the meat is gnited iminediataly to fecover, back, from the com, rs fo this it ta cient answer any erecnmens inst it debtor may ‘be as act ot Congress, and when Congress bas de. clared the appiicauicn ‘of “only one-half” of thie sum shall be required the Secretary of the Ti cannot fall back upon the common law, or, by a pretended exercise of the jurisdiction of a court of equity, violate the statute And say that the whole sum shall be s0'applied. "Your com- mittee were not ca.led upon to criticise the wisdom of those ‘acts of Congress, but to anawer as to their true construction{ and in discharging this duty the committee is obliged to ree rt the law as it Is without regard to what they might desire Wo be. It 1s proper, however, to that the company is clearly bound to keep its road io repair and in usr, and any failure of the company in this respect would authorize the government to lake on of the road. Tho refasal of the company to perform the services for. the goverament provided for by the alsth section or to, appropri- Ste five per cent of its net proceeds would also authorize the government to take possession, But while the compaoy Shall continue to comply with these requirements the govern- ment, {( {thas not all the security tt might desire, has all te ever atipuiated for, and has no right to complain, and at the maturity of fhe bonds, if the company fuils to pay the prine ctpal and interest, the goverument may take possession of tha road, which the company in the meantime must keep in use and repair. Tiffany & Co. Coton square, STERLING SILVER TABLE SPOONS, FORKS, &o. 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