The New York Herald Newspaper, November 24, 1873, Page 7

on fhe roll.” And so, from one to another, ‘the thoughtful Captain pleaded for the lives of his doomed companions. And finally, as the last hope for them, he appealed: —Span- iards, as I believe Tam the only one who will die in the embrace of our holy religion, con- sider the souls of these poor people. Give them time and opportunity to seek the mercy of God. Thus only can you comply with your duty, and my blood ought to be sufficient.” Yes, brave and generous Captain; yes, faithful friend and Christian, it ought to be sufficient to bring down justice, swift and ‘strong, upon your remorseless butchers. And here we may ask, Are the friends of justice, of outraged law and humenity, of Cuba, of the cause of Cuban independence and emancipa- tion and of liberty throughout that land—in short, are the friends of the noble Captain Fry mindful of his claims upon them in the claims of his family? The dying words of this modest hero entitle him to a monument. But more to the purpose than a monument ‘will be a generous remembrance of his desti- tute widow and her seven helpless children. What say the friends of Cuba? The Pulpit on Spuin and Cuba. Among the best-considered utterances that "have yet come from the pulpit touching the relations of Spain and Cuba to the United States, and the possible conflict with one or both growing out of the Virginius massacre, are the words of Dr. Fulton, of Brooklyn, uttered yesterday to an immense congrega- tion. While he has no apology to offer for that savage butchery he makes an ablo and eloquent plea for that sturdy re- publican who now presides over the destinies of Spain—Castelar. He, the Doctor, says, deserves our support. He is the first Spaniard who, for centuries, by the brilliancy of his imagination and his direct way of putting things, has won the applause of Europe. He is centuries in advance of his people. Dr. Fulton compares him to Moses ; ‘but his task isa herculean one. ‘Romanism and slavery,” says the Doctor, “are one—one combining against education and develop- ment. The influence of Romanism makes the government of which he is the head weak, and plots his overthrow. In Spain there is no Sabbath,” and, the Doctor adds, the con- verts in American missions there work on the Sabbath as they do on week days, and if they did not they would lose all. The Doctor charges our government and people with conniving at the slave trade in Cuba, for without our ac- quiescence it could not prosper there. He arraigns the Catholic Church as the cause of the troubles both in Spain and in Cuba by its withholding the Bible anda free pulpit and common school education. At the same time he cautions Americans against the cry for an- nexation, which cry, he says, is full of mis- chief. If we had Cuba we could not govern it nor hold it without trouble and great loss to ourselves. Our true policy is to take Havana and hold it until Cuba comes to her senses and is ready to unite with Spain in guarantee- ing religious and civil liberty and in uphoid- ing good order. And we, as a Christian pco- ple, the Doctor thinks, should embrace the present favorable opportunity to give the word of God to the people of Spain and Cuba. Dr. Scudder, of Brooklyn, illustrated the power of a word sent forth with authority by the preparation that is at present going on in all our navy yards and arsenals since the gov- ernment said ‘‘Prepare” for war; and if the exigency shall arrive and the interests of humanity call for it the word “Forward” will be uttered by and by, and who shall be able to measure the forces that shall emerge from that one word when uttered by Congress? The Doctor used this illustration to enforce the power of God's truths and the danger of neglecting to heed them. After a review of the labor troubles and the ‘hard times that are possibly before the work- ing people of these cities, and the trial and sentence of William M. Tweed, Mr. Frothing- ham referred to the Virginius massacre, which, he said, showed an utter disregard of the feelings of the civilized world and of inter- national pledges and common decency. It was the deed of savage men, inhuman, cold- blooded and heartless. Nevertheless, Mr. Frothingham believes that if affairs in Cuba can be settled by anything but the sword they should be. Rev. E. C. Sweetser referred to the recent butcheries in Cuba, and declared it to be the duty of all nations to unite and put a stop to such outrages against humanity. While he would not advocate war, still he called upon England and the United States to tell Spain to let Cuba alone, and that they will protect it and stop all such butcheries in future. Mr. Talmage must have had a spell of deep piety on him yesterday, or been in a vein of dry humor, when, in the same breath of prayer, he prayed for the editors of a morning con- temporary who have been ridiculing or abusing him lately, thanked God that a court and jury had been found in this city to convict and sentence ‘‘the ringleader of municipal cor- ruption,” and prayed that all our difficulties with Spain might be brought to a peaceful, amicable and honorable adjustment. His sermon was of the purely gospel sort on the obstacles in the way of salvation. So far the pulpit on Spanish-Cuban- American affairs. Another number of minis- ters, utterly ignoring, or for the time being forgetting that such countries exist or that troubles are brewing between them, passed them over and went straight to such themes as burdon-bearing, which Dr. Cuyler set forth before his Brooklyn congregation. He en- couraged those who have burdens too heavy for them to bear to cast them all upon Jesus, who is able to bear them and who cares for His people; and, as the greatest, biggest, Dlackest burden is sin, the Doctor especially commended those thus burdened to bring it to the sin-bearer—Jesus. Mr. Beecher lifted up an old theme in anow dress before his people yesterday—suffering as the interpreter of moral truthand as a great moral force acting through the imagination. While amply illustrating his subject with his- torical incidents, ho did not forget to tell the congregation that the great and living truth is that the life of God is brought down under natural law in the person of Jesus Christ. And this life is the manifestation of the human life thus cloistered. Rev. Henry Powers contended against the idea that fear is a necessary element in re- ligion, and deprecated the constant preaching by “zealous and misguided ministers’’ of the bottomless pit and the terrors of the hereafter, NO NEW YORK HERALD, MONDAY, NOVEMBER 24, 1873-TRIPLE SHEET. He doubts whether the pagan religion had any such images of ghastly and unutterable horror as those which have become familiar to the eyes and ears of the disciples of a re- ligion which declares that God is love. He thinks that it is this sense of dread which has grown up inthe heart of Protestantism that has caused it to fail to connect 'the world with God and good. He, of course, assumes that no such connection exists, and the main part of his discussion is built upon similar assump- tions. His logic in arguing away the vicarious atonement is shallow enough for a schoolboy. Mr. Hepworth had something to say about Christ’s mission on earth and about losing and saving life; Dr. Montgomery offered rest in the Lord to the weary and heavy laden; Father Shea, in opening the ‘‘mission’’ in St. Stephen's church yesterday, preachod on sanc- tification as being the will of God concerning us, and Father McGuirk delivered a panegytic on St. Cecilia in the church which bears her name, The South and the Cuban Question. We do not think we will go very far astray if we assert that the entire South, including the press, prominent statesmen and tho masses, are almost a unit in favor of a prompt vindication of our national honor, even to the extremity of war, on account of the Spanish insult to the American flag and tho savage slaughter of American citizens at Santiago. Among the most influential of the Southern press that have expressed their convictions on the subject we may mention that the Rich- mond Enquirer wants the President once more to declare, “I propose to move at once upon your works,’’ and it affirms that ‘the whole country will rise up and with one voice ap- plaud the manly sentiment."" The Memphis Appeal, once the most ulira in its defence of Southern rights of all the Southern press, avers that the prospect of a war which must eventuate in the acquisition of Cuba ‘has already made the Stars and Stripes the flag indeed of the whole country, and called out trom the hearts of Southern men as true a devotion to that flag and as keen a sensitive- ness to have the insult offered it avenged as if nothing had ever disturbed their ancient love for the symbol of American union and American liberty."’ The Savannah News declares that the circumstances of the case make it the duty of the United States to interpose its good offices, its power, if need be, to put a stop to such outrages as that which now fills the world with ‘unspeakable horror.” The New Orleans Times does not hesitate to declare that ‘‘hostilities in such a cause will unquestionably meet the hearty approval of ninety-nine in a hundred.” The New Orleans Picayune asserts that ‘the United States stands committed to avenge the murder of the gallant Fry and the other citizens of the United States who have been brutally massacred at Santiago de Cuba.” The Mem- phis Register says ‘‘our government should demand of Spain that the butchers and mur- derers who committed the foul deed shall be delivered into the hands of the government at Washington, to be tried under the laws of nations for their crimes.’’ The Charles- ton News hopes ‘to hear soon that the timid counsels of Fish are disregarded and that President Grant has buckled on the sword.” The Mobile Register demands that ‘‘vengeance be visited upon the murderers of Fry and his companions by our govern- ment; andif it fail to do so it is the duty of the people to take it in hand, and, by sweep- ing the last vestige of Spanish dominion from this Continent, teach Spain a lesson which she will never forget.” The Vicksburg Herald trusts the government ‘‘will vindicate the honor of the nation at any cost and every hazard.” The Columbus (Ga.) Enquirer affirms that “if the government says the word there are ten thousand Southern men ready to gird on their swords for the patriots of Cuba Libre.” But we might fill our paper with comments like the above from the columns of our Southern contemporaries. The above, how- ever, is sufficient to demonstrate that the Southern heart is all aglow with enthusiasm for the vindication of our national honor and the emancipation of Cuba from Spanish thraldom. PERSONAL INTELLIGENCE, Horace Fairbanks, of Vermont, is registered at the Filth Avenue Hotel, Captain R. F, Ward, of the British Navy, is quar- tered at the Brevoort House. Congressman Wm. H. Stone, of Missouri, arrived yesterday at Barnum’s Hotel, State Senator elect John Ganson, of Buffalo, is staying at the Fifth Avenue Hotel, Ex-United States Senator Harlan, of Iowa, yes- terday arrived at the Gilsey House. Assistaut Inspector General Nelson H. Davis, United States Army, is quartered at the Grand Cen- tral Hotel. . B, James, of the Treasury Department, ar- rived at the Metropolitan Hotel yesterday from Wasaington. Mr. Mabion Chance, United States Consul, has returned to and resumed the duties of his office at Nassau, N. P. Lieutenant Commander F. R. Smith, United States Navy, is among the arrivals at the West- minster Hotel. Mr. H. C, Rothery, the British Fishery Commis- sioner, who is to represent the Canadian govern- ment in the settlement of the fisheries question with the United States, arrived at the Brevoort House yesterday morning on his way to Washington. Out West permits are given by wives to hus. banas who desire strong drink, cxonerating Iquor sellers from all responsibility in selling it to them. The husbands of those wives, who cannot sign their own names easily iorge a fac simile thereo1, to wit:—""X”’ (her mark), and guzzle to their hearis’ content. THE EXCISE LAW IN BROOKLYN. ——_—_—____ The police, under the instructions of the Police Commissioners, continued their enforcement of the Excise law in Brooklyn yesterday, All liquor dealers whose places were found open were promptly arrested, but most of them were admitted to bail by Judge Walsh, A week ago there were about 60 arrested, but yesterday there were only 2 arrested. The following are the names of the accused :—James McQuade, No. 56 Columbia street; Michael Cullen, No. 26 Myrtle avenue; Bernard Shanley, No. 262 Gold street; Thomas Kiernan, No, 160 Myrtle avenue; William Gaifey, No, 159 Myrtie avenue; Charles McHenry, No. 222 Washington street; Jacob Green, No. 175 Court street; James O'Conner, No. 872 Hicks street; Thomas McLaugh- lin, No, 175 Sackett street; Michael Marphy, No, 173 Sackett street; Oscar Freygan, No, 416 Atiantic avenue; John Falconer, No. 6 Atlantic street; Michael O'Donnell, Fulton avenue and St. Felix street; John D. Burke, No. 585 Fulton enue; TNenry Whitmore, No. 370 Myrtle avenue; Jonn Rourke, No. 319 Flushing avenue; Henry Ammer- man, No, 374 sewer Henry Lunderman. No, 826 Broadway; Patllip Gunster, No. 370 Third ave- nue; Dora Gerken, Third avenue and Twelfth street; Bernard Schumacker, Gates and Tomp- kins avenues; Henry Gleanor, No. 1,873 Falton street; John Krausher, No. 1,016, Broadway ; Thomas Murray, 527 Attantic avenue, MEXICO. Herald Special Report from the Capital. The Interoceanic Railway Contract Presented to Congress. TELEGRAM TO THE NEW YORK HERALD. The following special despatch to the Heratp has been received from our cor- respondent in the Mexican capital by way of Matamoras: — Maramonas, Nov. 23, 1873. The Herarp correspondent in Mexico city telegraphs the following special despatch under date of the 2ist inst. :— President Lerdo has presented to Congress a contract with the Mexican Company for the construction of an interoceanic railroad. “ENGLAND. — —_——_+—__—_. Dieraeli’s Political Prophecy—Conflict Between tho Spiritual and Tomporal Powers— Social Consequences in Europe. TELEGRAM TO THE REW YORK HERALD. ~~Lonpon, Nov. 23, 1873. Mr. Disraeli made a political speech at Glasgow Jast evening. Hie severely criticized the government, and pre- dicted a great struggle in Europe between the spiritual and temporal powers, He feared the conflict might result in anarchy, and declared the partisans of home rule in Ireland would unmask and show Great Britain their real designs, IRELAND. Home Rule Demonstration in the Metropolis, TELEGRAM TO THE KEW YORK HERALD, DusBLIN, Nov, 23, 1873, An immense demonstration in favor of home rule took place in this city to-day, It is estimated that 60,000 persons took part in the procession and mass meeting which followed. Speeches were made by Messrs. Butt, Martinand others, No disturbance occurred. NEWS FROM HAVANA. Assassination of an Aristocrat at the Door of His Abode. TELEGRAM TO THE NEW YORK KERALO. Havana, Nov. 23, 1873. Count San Fernando was assassinated at the doors of his mansion thisanorning by a young man, The tragedy was the result of domestic troubles. ST. DOMINGO. Revolutionist Officers Executed — Prisoners Awaiting the Same Sad Fate—Presiden- tial Politics—Haytian Frontiers- men Organizing a Republic. TELEGRAMS TO THE NEW YORK HERALD. HAVANA, Nov. 23, 1873. Arrivals yesterday bring the following advices from different parts of the West Indies. St. Domingo. Sr. DomINnGo City, Nov. 12, 1873, General Manzueta and three other generals have been shot by order of President Baez. They were implicated in recent revolutionary Movements. It is expected that six other oMfcers of high rank, now in prison on similar charges, will soon be executed. Presidential Politics. PUERTO Pata, Nov. 8, 1873, The election for President of the Republic of St. Domingo will be held on the Ist of December. The leading candidates are President Baez, Seior Gonzales, the Governor of Puerto Plata and General Caceres, It is thought here that Baez will not obtain a re- election, The defeat at the elections of his per- sonal government would bring about a complete change of policy in the Republic. A large number ‘of political refugees would be recalled and many reforms introduced in the administration, . Haytian Frontiersmen in Secession. The revoluvionists on the Haytian frontier are daily growing stronger. ‘hey have organized a provisional government, with Luperon as Presi- dent, and are preparing for @ general advance. They claim that they are now strong enough io defeat any force President Baez can put into the field. Hayti. JACMEL, Nov, 9, 1873, President Saget will retire irom public life at the end of his present term of ofice, in 1874, and take up nis residence in St. Mark’s, his native town, where he is building a splendid mansion. TRADE. Business is generally dull. The late hurricane having destroyed the farms, vegetables are very scarce. Flour is in good demand at $20 per bar- rel. Rice is quoted at 10 cents per pound. Coffee, 16 cents per pound. Porto Rico. SAN JUAN DE PoRTO RICO, Nov. 11, 1873. Great preparations are making here to receive Sefior Soler, the Spanish Minister of the Colonies. Venezuela. La GuayRa, Nov. 6, 1873. Tue courtry continues quiet. The government is devoting all its efforts to restore finances and promote public works, The anniversary of the birth of Bolivar was cele- brated at Caracas on the 23th ult. with great ceremony. The new aqueduct to supply the capital with water was inaugurated by the President, the Min- isters and the other chief officials of the city and State. CHARGES OF CONSPIRACY. Generals Jesus Maria Ariste, Miguel Antonio Rojas, Pedro Rammez and Jesus Maria Sosa and Dr. José Gabriei Lugo have been arrested on charges of conspiring against President Blanco, TWEED BEFUSED A STAY, Dectsion of Judge Gilbert, of Brooklyn. Judge Gilbert was appealed to on Saturday, at a late hour, by Judge Fullerton and one or two other lawyers,to fix a time for the hearing of an appiica- tion for a stay of proceedings in the case of William . Tweed, The Judge refused to grant the request we other judges had been applied to in N ork. THE SPRAGUE TRUST DEED. Legal Dimcultics Surmounted—The Exe~ cution Te Take Piace at Once. PROVIDENCE, R. I., Nov. 23, 1878, The Sprague decd of trust is still in the hands of the lawyers, put it is expected that it will be.com- pleted and ready for execution to-morrowror the next day. This long delay has not been caused by @ny Considerations outside of the legal @ifficulties Of defining tts provisions, The “Bpeagues are Bd to execute it at once and in woy form in which it shall be made acceptable trustees. AN ELASTIC CURRENCY. To ras Eprror or THe HERALD:— No question 80 much occupies the thought of the people of the country—whether bankers, mer- chants or business men of all classes—as the problem, how can our currency be made elastic !— that is, extending itself when extension 18 needed, and capable of contraction when its full volume 18 not needed, The financial disturbance through which we are passing has probably proved to the satisfaction of every reflecting mind that our legal tenders are the best possible currency for our “people. Backed by the honor, financial ability, not to say property, of forty millions of people, they have a value in themselves as intrinsic as gold, so far as their stability and convertibility into other property are concerned. Nay, we are told that during the crisis, when gold was offerea for wheat at Chicago, the repiy was that greenbacks, not gold, only would purchase wheat, the reason being obvious, that gold had become merchandise merely and not money in this country; so that the propo- sition was simply a barter or trade of one species of merchandise for another. Again, nobody doubts that our currency 1s too restricted in amount at some period of the business year to meet the wants of trade, although many believe that ordinarily the amount is sul ficient for the transaction of business to which tt 1s applicable. Currency 1s, in fact, the money of retail and of the Jobber; the banker’s check book, the merchant's ledger, bilis of exchange and promissory notes being the currency of wholesale. Our greenback and nationai bank tissues, exclusive of frac- tional currency, together nominally amount to $700,000,000, but of that it may be safely cal- culated there is at least $150,000,000 of reserves, There would be more if the exact letter of the banking law were carried out. Now it will not be forgotten that most of this currency of ours has been practically in circulation for 10 years unredeemed, aud, in large part, un- renewed, Itis known that in the fractional cur- rency which the government has redeemed there is @ loss of quite $4,000,000 which cannot be ac- counted for, it being the worn out and destroyed paper. We do not mean to assert that the amount of worn out and destroyed national bank and legal | tender currency is as much in proportion to the issue; or, in other words, that the sum lost and destroyed 15 to $700,000,000 as $4,000,000 is to $46,000,000; but still the sum lost and destroyed, especially taking into account the great fires that have swept over business centres the last few years, must be very large indeed. This, together with the hoarding, practically brings our currency in actual circulation to less than $500,000,000, or say $12 50 to each individual. Now, the currency of Great Britain, including the joint- stock banks, is about $14 50 an individual, reck- oning gold, silver and pank notes, If such an amount is enough for a people, a majority of whom do not eat meat once a week, what must be the amount of our currency te a people the majority of whom eat meat twice or three times a day. The question then recurs, how shall this cur- rency be extended? Of course it cannot be done by the government unless the government re- ceives an equivalent for its issue, No one pro- posed that the $44,000,000 of reserves should havo | been issued in the time of the panic, except the government should receive an equivalent portion of its bonded debt. But would the $44,000,000, if it had been put out by the Secretary of the Treasury, have afforded substantial relief? On the contrary, would it not have been absorbed at once, as were $12,000,000 by the banks, es- pecially savings banks, in order to strengthen themseives against a prospective run upon them by their depositors and creditors, thus simply | taking it from the Treasury, where 1t was locked up, but from whence it might be issued, into pri- vate vaults, where it would not be Issued until the panic was over, and the use of it was no longer specially desirable. Assuming, therefore, all agree substantially that | some relief must be afforded by an extension of the currency, We are brought to consider the various schemes proposed to that end. One ts an immediate return tospecie payments. The futility of that may be demonstrated, 1t would seem, in a word, In thelate panic nobody refused totake curreiicy. Everybody was eager to get it. If $500,000,000 of currency failed even to do a small portion of the retail business of the country and the payment ofthe workingmen, what would the sum of $80,000,000 or $100,000,000, the largest pos- sible amount of gold claimed to be in the country, have done toward the same end? Another proposition is that the government should increase the legal tenders to the amount of $100,000,000 or more, But how is the government to do this? How is it | to get any man to pay for and receive this money? It certainly cannot issue it without an equivalent. It may, indeed, buy its own | bonds, but all the bonds that it has bougnt has been at agreater premium than 10 per cent. Ought the government to be called upon toattempt to furnish a currency to the people, losing 10 cents on the dollar for such accommodation, or the large { premium it would nave to pay in buying its bonds, | which would increase in price because of the very demand for them? Another suggestien is that there should be free banking—that is, allow whoever shall choose to associate together, ascertain how large a figure they would like their capital to represent, buying with that United States bonds, depositing those bonds with the Treasurer, receiving therefor bank bills within 10 per cent of that amount, and then loaning these bills to their customers at such | percentage of interest as their necessities or the caprices Or speculative desires of others establish as the going rate of interest to be paid for bank discounts. Free banking, it 1s | obvious, amounts to no more than this: people who have loaned money to the government and taken Its bonds, payable at a given rate of interest therefor, on a given time, are allowed to associate together, and upon the pledge of these bonds in the Treasury borrow money of the government to 90 percent of that amount, to loan at a rate of interest fixed by themselves to whoever may need it. Now, why may not this be as well done by the government itself, without the intervention of such banking association, with their salaried | oMicers, expenses of administration, dividends and profits to their stockholders, to say nothing of peculations and defalcations, saving all that to the mass of the people themselves? Suppose the government could arrange to loan to every individual at his request an amount equal tothe bonds he holds against the government, why should not the individual have that privilege from the government as well as an association of individuals known as a bank? Why should the possibility of procuring money from the govern- ment in exchange for a bond due by the govern- ment be confined to banking assoctations, and thus make a monopoly ‘—a monopoly so valuable that we have this very singular anomaly in finance that bills of broken banksare worth more than the same bills were before the banks broke. In other words, in order to get the bills of a broken bank, with which to start a new bank, a premium. of five to seven per cent is paid by those who desire such enterprises; showing that the present banking system of the country is a monopoly suck as man- hind never before witnessed. ‘The measure that might be’ suggested, end fs free from all the objections thus jar stated, would be as. follows :— We have 480,000 000 of five per cent gold bear ing bonds outstanding, which are worth in Europe and here gold at their face. They are evidences of money loaned by the holder to the gowernment. Let it be enacted that the holder may’go toany public depository and on presentation, of his five per cent bond receive his equivalent at the amount and interest in greenbacks; and whenever he or anybody clse desires that bond again, a deposit of greenbacks equal tn amount, withthe rebate of in- terest from the time the bond was deposited until it was again reissued, will entitle him to alike bond again. This would seemto be perfectly feast- ble. Or, in other words, with proper checks and safeguards, so that ‘neither the public nor the government might be defrauded, whenever any ona holder of a five per cent bond called on @ public deposi@yy and asked for his momey/on it, he would receive that sum; and whenever, again, he or anybody else went to the United States Treasury or a depositary and de- sired one of its five percent bonds and patd an amount equal to its face at the time of issue, he should receive a like five per cent bond therefor. ‘Thus, it will be seen, the bond, being made con- vertibie and reconvertible into currency, would practically become currency itself, save where the holder desired greenbacks in small amounts for the purpose of paying laborers or some petty traffic where smali amounts were to be paid out to aiffer- ent persons. By this means the United States would gain the amount of interest payable upon those ponds while they were in the hands of the Treasurer; but it is not probable that it would in practice be @ very considerable sum, yet it would be a saving to the United States equal to the amount now paid to the banks on their currency, while the United States loaned back to them the money which they have invessed in its bonds. ‘This would at once bring our currency, not to specie payments—which never existed in fact in the history of the country, because, although banks have promised to pay specie, yet we all know that when any specie was demanded they were always unable to pay—but to a specie basis, because our five per cent bonds in Europe are now, a3 an investment, at par, and they would be worth no less because in the United States a new use was found for them, a use which would tend to make them more valuable at home and abroad and bring them back here, and thus save the interest which we are now obliged to pay to the foreign holders. We are aware of but two objections to this pro- position, The first, which is sometimes urged, is, that to bring that number of millions of bonds into acondition tobe used as currency at the will of the holder would produce such extension of the currency as injuriously to raise the prices of prop- erty and unsettle values—in other words, that it would produce “inflation.” This cry 1s always raised by the creditor portion of the country, whose claims upen their debtors will always be rendered more valuabie by any contraction and less valuable by any extension of the currency to repress any movement in the latter | direction. It will be observed that while by con- traction ofthe currency the value of every other species of property 1s brought down, yet that species of property represented by the debts owed from the dentor to the creditor portion of the peo- ple, will not be lowered, although this ts by far the largest item of personal property. To illustrate :— If A owes $1,000, and acontraction of the currency diminishes the value of all his property, he 1s in so much less able to pay that debt than before; but the amountof the debt is not diminished, but, on tbe contrary, relatively increased. Therefore any inflation of the currency which raises the value of every species of property which may be used as the means of payment by the debtor, while it does not enhance the amount of the debt, might well be regarded by the debtor portion of the community as a blessing, Yet is it true that the proposition that we have made would be in fact inflation? It will be admit- ted. we suppose, especially by those who belleve that the remedy for all monetary evils is an influx of gold into the country, that if the government or anybody else should issue many millions o! gold dollars such issue would not be inflation. How, then, can an issue of any amount of currency, the exact equivalent of gold, each dollar of which will bring goldin the markets of Europe—as our five per cent bonds are now selling there for that value— be any ination? If issuing a gold dollar would not be, certainly issuing its equivalent would not be, The common idea of inflation was derived from a state of things under the old specie paying banking system, when a certain small percentage of gold, varying from 15 to 25 per cent, was held in the vaults of the banks for the redemp- tion of their circulation of 100 per cent, so that the further issue of such circulation would lessen the Means of redemption and the disproportion of paper to gold would be increased by any further issue. This was inflation; and hence the idea that all extensions of currency are necessarily infla- tions, It would be difficult to show that the greenback, issued in exchange for the five per cent bond, would be any less valuable than the present green- \ back limited in its issue to $30,000,000, It would | have the same and no greater or less pur- chasing power. It could be put at interest at any moment by reconversion into a bond bearing five | per cent interest, which is a greater rate of inter- est as an investment than that for which the gold dollar can be invested in any country in the world where gold is the circulating medium. Therefore the greenback, or its correlative, the five per cent bond, would always be as good for the purposes 0 investment, if not better, than any gold dollar | held by the subject of any gold circulating coun- try, and of course it must have an equal purchas- ing power. The only other objection that has been urged to our proposition is that the government ought not to be called upon to keep on hand an amount of greenbacks suflicient to answer the possible con- version of the large amount of five per cent bonds. AS we have before hinted, such conversion in prac- tice never would be necessary or called for. The bond, bearing interest while in the possession of the holder, and its interest ceasing when deposited | in the Treasury, would never be converted into a greenback in practice unnecessarily, because that would involve the loss of interest; and in all lirger transactions the bond itself would, witn its accu- mulated interest, be used as a circulating medium, and only converted when money for payments in small amounts was needed, Of course the limits of this article forbid the con- sideration of details of provisions for carrying this system into practice, but a moment's refiection will show that they would be neither complicated nor numerous. An advantage, which will atonce occur to any | one, of this system of currency, and a controlling | one, would be that it would regulate itself. When ever the bond was more valuable for currency | than an investment at five percent it would be | drawn out of the pocket of the holder and used as such. Whenever it became less valuable @s cur- | Tency than as an investment at five per cent it | would place itselt on interest at that rate; and all | temptation to use it in order to obtain interest or | prevent its lying idle, which is the source of mucu of specuiation, would be taken away. Again, such a system of conversion and recon- version would do away substantially with deposits | of money either with banks or private bankers ‘“‘on | call’ at a low rate of interest, which has shown it- | self under ail systems of finance the fruitful source | of panics, money fluctuations and consequent | disarrangement o! business affairs. The very large | sum which could be made at once available tor | currency whenever the rate of interest would rule | high enough to call it out would effectually prevent | all ‘4ock-upe’’ of currency for the purpose of rais- ing the rate of interests, Such enterprises won'd at once prove disastrous to the promoters. No | combination “ring” er “syndicate” could consrot | money enough to seriously affect so large a | sum as the present five per cent loan of the Uuited States, Another use to which such convertible bonds could be put by the simple provision of making them payable to the order of the hoider would be that savings might be invested in them payable on demand in any part o/ the country, and would afford a savings bank to the poor man always re~ liable, always accessible, and where he could ra- pose bis money with a certainty of getting it when he desired. r Bat we have already exceeded oar limits and gop, although we may recur to the subject bere- atter. NECKER, THE RHODE ISLAND TRAGEDY, A Verdict of Murder Against Pochier by the Corener’s Jury—Pochier and Mary Bose Both Buried Yesterday—A Large Attendance at the Girls Funeral. PROVIDENCE, Now, 23, 1875. The Coroner's Jury in the case of Mary Bose, Who was kilied by her lover on Thursday night, returned a verdict last night of deliberate murder against Fritz Poehler, who fatally wounded him- self with some weapon with which he Killed the girl The funerai of the girl took place this after. noon, at the German Lutneran church, and was ; Pomeroy’s Block, causing a loss of $20,000, | loss $1,700 and insurance $750, and v ee SUNDAY CONCERTS. The Strakosch Italian Opera Company celebrated the Festival of St. Ceeilia, the patroness of musio, last evening at Tammany Hall, the proceeds being devoted to the benefit of the Church of St. Cecilia, in this city, Rev. Father Flattery pastor. Not- wit. standing the inelemency of the weather, the audience was very large and correspondingly en- thusiastic, They were repaid for venturing out om Such @ disugreeable night by the general excel lence of the artists. Signor Campanini gave @ finished and ¢ffecttve rendering of the “Cujas Animam,” {rom Rogsini’s “Stabat Mater,’? and Miss Cary and Signor Nannotti also appeared With success in selections from the same work, ‘The grand duo from “Puritans,” written for Tam- burini and Lablache, was interpreted in a truly artistic style by Del Puente and Nannetti, and Mile. Maresi’s frestt young voice appeared to ad- vantage im Gounod’s “Ave Maria.” The hall is not well adapted for an orchestra, its echo qualities nearly making sad havoc with the tones of the instrantents. Mr. Behrens conducted on the occas sion, and by his skill in toning down the naturat exuberance of the band avoided results which might have been disastrous. The frst concert of the Leiderkranz Society took. place at their hall on Fourth street last evening, before a crowded house, The choral and orchestral selections were very interesting, some for their novelty, such as the choruses irom’ Liszt's “Prometheus; “The Ring,” by F. Brandeis, founded on a@ poem of Uhiand and spotied on this occasion by tue unaccountable absence of the orchestral parts; the Pastoral Symphony of Beethoven and a fine, spirited effective work by Mohring, “Vorbei,” ‘or male choruw with tenor and baritone solos. The — tas mentioned work exhibited in the best light the high cultivation and finished style of singing for which this society has long been famous, aud the expressive, sympathetic baritone voice of Herr Steins lent an additional attraction to the efforts of the chorus, Miss Isabella Brush, & young American artist, who has lately returned trom Italy, sang “Le Roi de Thule’ and “L’Air dea Bijoux" trom ‘Faust,’ and, despite the un- favorable circumstance of having only & plauo accompaniment, she made a decided success. Her voice ts a soprano of considerabie compass, the tone prre, fresh and endowed with dramatic power, tue lower notes being particularty strong and resonant, and her school is of the mosé approved Italian pattern. Mr. Graf sang a tefior song, by Storch, and was encored, and Mr. Schiever played a couple of violin solos with the same neat- hess of execution tuat characterized his performs ance at the first Philkarmonic concert. He Is bet- ter adapted for chamber music or orcpestral playing than for the rdde o! a virtuoso, MUSICAL AND DRAMATIO NOTES. Blind Tom, the negro pianist, gives a concert at Steinway Hall to-morrow evenmg. His remarkaole natural gifts are about as much a wonder as when he first appeared, Mr. James W. Collier, the actor, was married last week to Miss Charlotte Augusta Cave, of the Union Square Theatre. Mrs. Collier was then im good health, but she died on Saturday, only two days after her marriage, and will be buried to- day. Among the tributes of admiration which fell at the feet of Mme. Patti at Moscow was a bouquet, presented by the Prince Doigorouski, of dimensiona so enormous that three regiments were obiiged to come forward and carry it away. About the pithiest specimen of correspondence extant is that which passed between Foote's mother and Foote:—“Dear Sam—I’m in prison. Yours, E. Foote.” The old lady was under arrest for debt. The son’s answer was:—“Dear Mother— Soam IL. Yours, S. Foote.’’ Mr. Boucicauit, who some time ago announced himself as the author of 300 plays, seems as pro- lic as ever. A new piece by him, entitled “Astray,” is to be produced next Monday evening at the Union Square Theatre, and another of his new plays is announced for production at Wallack’s during the present series. ITALIAN OPERA—CARD PROM MR, MARETZEK™ New York, Nov. 23, 1873. To THE PUBLIC:— The undersigned regrets to state that he is com- pelled to postpone indefinitely the performances of Italian opera announced for this week at the Lyceum Theatre. Previous to the departure of the company for Havana, which was to take place this week, the underrigned made a written proposal to his prime donne, Mmes. Lucca and Di Murska, who, by contract, should receive each night $500 in gold, to accept their salaries in Havana, or whatever may be due to them now, in currency, leaving the control of the subscription money in Havana, which amounts to nearly $100,000, to their agent as a guarantee. I felt justified in making this demand, In consideration of the present hard times and the fluctuations of gold in Havana which the pres- ent political excitement might cause. Contrary to my expectation and to the noble example shown by Mme. Nilsson towards her manager, this pro- posai was declined and further services refused. The money received tor tickets sold will be re- funded at the various offices. MAX MARKTZER, FIRE AT EAST HAMPTON, MASS. SPRINGFIELD, Mass., Nov. 23, 1873. A fire at East Hampton this morning destroyed The principal sofferers are T. J. Pomeroy, whose loss is $10,000, on which there was an insurance of $6,000; L, A. Baldwin, boot and shoe dealer, loss $5,000 and insurance $3,000; W. C. Maynard, tobacconist, . Eggleston, painter, loss $2,000. ARREST OF TWO NEW YORKERS—A COUPLE OF PUGILISTS BAILED, St. Lours, Nov. 23, 1873. James Howard and John Carter, two forgera from New York, were arrested here to-day for passing a forged check on the Broadway Bank one day last week, Tom Allen and Tom Kelly returnad from Ed- wardsville, Ill., to-day, where they gave $5,000 ball each to appear for trial for participating in a prize fight in Miinois last September, Arthur Chamber who was aiso taken to Kdwardsvelle, is in. j there, having been unable to obtain bau. Do You Cough! Then Prevent, if You have any gumption, with HALK’S HONEY OF HOAR} HOUND AND Tak, the consumption, PIKE'S TOOTACHE DROS cure inone minute. A.—For a Superb Dress or Zusiness Hat go to ESPENSCHEID, Manufacturer, 114 Nassau street. A.—Herald Branch Office, corner Fniton avenue and hg iarren pire et. ALM. ‘Open trom 5 4 from 3 te 9 A. Brooklyn, on Sun A New Style Raby Jumper, Latest; Ime~ roved, COLVIN BABY NAIR COMPAIHY, ‘corner | roadway and Thirteenth Ask for Mme. Porter’s Cough Balsam. Its virtues have been tested Sy thoasands fot mais years in the treatment of all diseases-of the throat and funga, diseases owly tor which it isdesigmed. 26c., 50s, 75c. A.—Hernta.—Silver Medal, With: Strong= est testimonials, awarded by American Inatitate Fair of; Is73 to ude ELASTIC TRUSS COMPANY, 68% Broadway. Holds rupture easy in every case and soom permanent cures. Croutchoucin Applicd to ‘Shoes Pre- yonts wet feet. Mailed om receipt of 25 cents Sole everywhere. 5.8. SPAFFORD, 28 Pearl street. Cure Your Cold by Taking Russian. VaSOR BATHS. No.7 West Twenty taurth sirect. Havana Lottery.—We Said the $50,004 in the extraordinary drawing Apedt 2 Circulars sent Uilormation giwen. “J.B. Mani CGR 400. Wal ae Box 4685 New York Post office the Mare and yorenke Makes Go,” KNOX'S HATS are going off with a decided rush. Now one can expect to do husiness iw a seedy hat; hence the. necessity of an early visit to KNO- at No. 12 Broad- Way, In the Preseow House, ans F Avenue Hotel Rest, Health and Comfort to Mother and eaild. J 3. WINSLOW'S SOOTHING SYRUP, for ehjldrom thing, softens the gums, redaces inflawumation, allay, pain, and cures wind colic. {BARCH AFTER A LOST HBART, The new novel, by Leslie Man Rensselaer, is of hever-flaggiog and Intewe interest; each character well vortrayed aud supporty throws i. This book is ot a reat merit as a aubstan- cee bgt Cushing, ‘ano, Union aquare ; Macy's, Sixth avenue and Boadway , American OvApALY, BUR Fourteenth street, TOW 10.GO TF) BED, 16 SLREP AND REST.—COLD if Feet, How ‘to Keep them Warm; How to Relieve ; Corsets; The Potential id Why; Dresa ns Yellow reves dause ation al Longe. By ta is gS Pe ime. ct R. We. 5 No sa0 Broadway, New Yorn” TO $10) INVESTED IN STOCKS OFTEN LEADS attended by a very lar concourse of people. Foehier was also buried This afternoon, under the direction of a committee of the German Turners Society, 0: whicu he was # memory $10 Suyroty thee, OW ARE, 7Vwuitogie Sa, ‘ign