The New York Herald Newspaper, April 15, 1874, Page 6

— ‘NEW YORK HERALD | BROADWAY AND ANN STREET. . JAMES GORDON BENNETT, PROPRIETOR, THE DAILY HERALD, published every day in the gear, Four cents per copy. Annual subscription price $12. Ali business or news letters and telegraphic @espatches must be addressed New Yorg ‘Bemarp. nD eC LONDON OFFICE OF THE NEW YORK HERALD—NO. 46 FLEET STREET. Subscriptions and Advertisements will be received and forwarded on the same terms as in New York. ———— = AMUSEMENTS THIS AFTERNOON AND EVENING | BTV Mau 7 fo. 514 Broadwar.—V ARI , M. ; closes at 10:30 P, M. TAINMENT, at 8 2PM. BOOTH'S THEATRE, th avenue and Twenty-third street.—ZIP, at 7:45 P. Mj closes at 10:45 P.M. Lotta. Broad a “Tiniedionn ste coe THE VETERAN, at 8 roa y and Thirticth street.— , al Pom: closes at ll P.M. Mr. Lester Wallack,” Miss Jeftreys Lewis. MRS. CONWAY'S BROOKLYN THEATRE, Washington street, near Fulton street, Brooklyn.— CONNIE SOOGAH, at 3 P, M.; closes at 1 P.M. Mr. and ‘Mrs. Barney Williams. OLYMPIC HEATRE, Broadway, between Hoi ‘and Bleecker streets. — | VAUDE LE and NO ('Y ENTERTAINMEN), at 745 P.M. ; closes at 10:45 Matinee at 2 P. M. GRAND OPERA HOUSE, Bignth avenue and Twenty-third street EILEEN OGE, @t2P. M.; closes atl P.M. Mr. and Mrs. Florence. BROADWAY THEATRE, | Broadway, opposite | Washington P.ace.—HUMPTY DUMPTY AT HOME, éc., at 8 P. M.; closesat P.M. | ‘@. L. Fox. BROOKLYN PARK THEATRE, gprosite City Hall, Brooklyn.—LA MARJOLAINE, at 8 7. M.; closes at ll P.M. Fanny Foster. BOWERY THEATRE, Bowery.-THE LITILE DETECTIVE, and VARIETY ENTERTAINMENT. Begins at 8 P. M.; closes af 11 P.M. METROPOLITAN THEATRE, Fo. 58 Broadway.—VARIETY ENTERTAINMENT, at 7:45 P. M.; closes at 10:3) P. M. Matinee at2 P. M. NIBLO’S GARDEN, Broadway, between Prince and Houston streets.—DAVY | CROCKET!, at8P. M.; closes at 10:30 P.M. Mr. Frank Muyo. LYCEUM THEATRE, Fourteenth street. near Sixth avenue.—Grand Parisian Folly, at 8 P. M. ; closes at 11 P. M. WOOD's MUSEUM, Broadway, corner of Thirtieth HAND, at2 P. M.; closes at 4:3 SOLDIER OF FORTUNE, Mr. and Mrs. E. L, DA P.M. Ag closes at 10:0 P.M. PARK THEATRE, Broadway and Twenty-seventh street.—LOVE’S PEN- ANCE, at 8 P. M.; closes at 11 P. M. Charlee Fechter. GRRMANIA THEATRE Roatteenth street, near Irving piace—DER ELEPHANT, SP. M.; closes at IL P.M. DALY'S FIFTH AVENUE THEATRE, Fawenty< hth street and Broadway.—MONSIEUR LPHONSE, at 8 P. M.; closes at 10:30 Miss Ada yas, Miss Fapny Davenport, Mr. Fisher, Mr. Clark. ACADEMY OF MUSIC, Fourteenth street, and Irving placc.—Italian” Opera— DINORA, at $ P.M; closes atl P.M, Mlle, ima di jurska. STADT THEATRE, Bowery.—LOHENGEBB, at 8 P. M.; closes at 11 P. M. TONY PASTOR'S OPERA HOUSE, Xo. 2M Bowery—VARIETY ENTERTAINMENT, at 8 P. M.; closes at If P. M. BRYANT’S OPERA HOUSE, Twenty-third street, near Sixth avenue._NEGRO MIN- BIRELSY, &e., at 8 P. M.; closes at M. COLOSSEUM, Broadway, corner ot Thirty-fitth street—PARIS BY OONLIGHT, at 1 P. M.; closes at 5P. M. Same at7 P. ; closes at M. TRIPLE SHEET. New York, Wednesday, April 15, 187: From our reports this morning the probabilities | Gre that the weather to-day will be cloudy. Bricxs.—Louisa Germs did not laugh as | merrily yesterday as she did the day before. She feared that this interesting physical dem- | onstration might be transferred to the other angle of her mouth, for the array of outraged | Justice made her forget her corpse by proxy | sod reflect on iron bars and the like. Yet she will probably be made a heroine. All dramatic | Swindlers in America are generally more petted | than punished. A Curvaman who was implicated in the | ‘murder of a white man at Corinne, Utah, did | mot receive the benefit of the formalities | which are usual in the East—that of a judicial every person of the population; while in the |. trial—but was executed at a mass meeting of | the citizens. This proves what we already | ‘knew, that a Chinaman has no right to killa | member of the Caucasian race in Utah, | although the Caucasians are seldom disturbed if they indulge themselves in this regard towards cach other. | , — apes A Hixt ror rae Lecistatvre.—The Senate | is now engaged on the Supply bill. Up to the present time the Legislature has done tolera- bly well in its treatment of this dangerous dill. But there is always danger of a relapse during the last few hours preceding its final passage. demand of Dr. Swinburne, an ex-Health Officer of New York, fora bonus of ninety thou- sand dollars in addition to the large fortune he realized during his brief term of office, is likely to be revived. It will be well for the Fepresentatives from New York to keep their eyes on this rejected item and to be prepared for its reappearance. Tue Caurch Question m Bnazm.—The Brazilian government has set an example which even so great a man as Bismarck might follow with advantage. Trouble having arisen | between the ecclesiastical and temporal anu- thorities, the government asserted right by trying and sentencing Bishop of Pernambuco to prison. moral effect of the sentence and imprisonment having been obtained, the government has now wisely set the Bishop at liberty, not caring to keep on its hands such an elephant as a martyr bishop would be likely to prove. this the Brazilian statesmen have shown more sound wisdom than the much talked of “Man of Iron,”’ who makes the mistake of thinki ng that bayonets can stifle an idea. Tue Lovwmna Buu.—The Senators were engaged yesterday in a slight passage at arms over the unfortunate Louisiana bill; but, as the administration supporters seem resolved its | the not to take any steps to disestablish | the illegal government which has forced itself on the people of the State, nothing can be effected. The Kellogg faction are likely to be sustained by the But- ders and Mortons; but the people in good time »ewill dispose of the administration clan, as they have digposed of other corrupt rings. Louisi- jana will then hayo a State government elected By the people, | happen to this. first beautiful law, and the street—THE HIDDEN | P.M. ST. MARC, THE | Among other ‘‘grabs’’ the modest | The | In | NEW YORK HERALD, WEDNESDAY, APRIL 15, 1874.—TRIPLE SHEET. Watering the Currency—Congress Au- thorizes the General Plunder of the People. Yesterday was a great day for the paper patriots in the House of Representatives. | "They saved the country twice. First, they | passed their own bill to create an unlimited | quantity of shinplasters and to make money 80 “cheap” that the poorest man may always have plenty; and then they passed the Senate bill, which at a stroke adds one hundred millions to the currency. If they | could be sure that the first measure would go | safely through the ordeals it has yet to puss the enactment of the second might properly be regarded as a wasteful and ridiculous ex- cess—a simply . superfluous application of | Congressional energy to a case already | provided for—since no demand for paper money can ever arise, even among the kite merchants and | the trunk liners, that the first pill will not | | amply supply. But, as it is a villanously un- | certain world, there is no knowing what may patriots wisely decided” not to neglect even | such a trifle as ninety millions, evidently ad- miring the principles of the thrifty gentle- man who, if Mr. Van Buren would not make him a foreign Minister, was willing to accept a pair of old pantaloons. With the Senate bill, which has now also | passed the House, the public is sufficiently familiar ; it adds forty-four millions of legal tender and forty-six millions of national bank notes to the volume of the currency. But the House bill for free banking will be properly described by the statement that the other is, by comparison, a mere drop in the bucket. It | repeals every limitation of the act of June 3, 1864, and of amendments to that act. Under the original act there was no limitation | become worthless and will not pass, and will | bill that point will be reached through the | veto the bill that gives the people into the to the banking capital that might be aggre- | gated in the vast machinery there provided | for; but there was a restriction in the sum of | the circulation it permitted. That law recog- | nized that the plundering of the people by | | financial corporations was most oppressive when done by means of the circulation of | worthless scraps of paper. Depositars have some option; but the people are bound hand | and foot and given into the possession of | organized brigands when the law allows a | | corporation to issue paper without any limi- | | tation as to quantity. But the wise men now in Congress judge that a limitation imposed | only to protect the people, and which did protect them, and without which they are | helpless in the hands of a class that has never | failed to rob them when it had the opportu- | nity—such limitation Congress judges foolish and unnecessary, and so erases it from the law. With the repeal of the limitation to the sum of the national bank circulation what restriction is left? There are two points in | the law that will operate as restrictions. One | | of these is the provision (strangely left stand- ing) which fixes the relation of the circulation to be issued with bonds deposited. By this point the circulation is limited to a sum | within the figure of the national debt. With the national debt af two thousand millions of | dollars, say, the circulation of national banks, | | under the new law, would be limited to one | | thousand eight hundred millions of dollars. | But this could be repealed by a future Con- | gress, and then the only limitation would be | { the clause in the present bill by which banks | are required to keep with the Secretary, in | | legal tender, for redemption of their notes, | | five per cent of their circulation. - With | | the greenbacks limited to four hun- | | | | dred millions the national banks could then only issue eight thousand mill- ions of dollars. With this latter sum in circulation nobody would be without money. We should be the richest people in the world in that per capita proportion which Congress- , men so love to contemplate, and the happiest | people in the world in the distribution of | these pretty promises to pay. Dollar bills | would be two for a cent, at least, and with | money as cheap as that there could be no | excuse for anybody being without it. But we | blush to confess that even with this quantity | of money afloat we should still be poorer than | the French people once were; for this would | only give us about two hundred dollars for | good old times in France, as we have recently | shown in these columns, assignats enough | were issued to give the people a sum per head | of at least three hundred dollars. Congress- | men ought to take care of our fame in this | respect. And this is free banking ; exceedingly free, no doubt. Advanced economists in Europe of the present day, as well as in this country, | have argued cogently for free banking, but we believe no thoroughly sane man ever be- lieved in it as separated from the only possi- | ble practical limitation, which is the power to | | convert every note into coin at the option of | | the holder. Free banking apart from that limitation is theft. It is impossible to give to the people any other security but the power to | convert the notes into coin at will With | specie payments the more banks there are the | better; at least we have never yet seen any indication of a good limit to their usefulness. With that limitation the capital embarked in banking, like capital in other enterprises, regu- lates its own operations ; and if there are too many banks the shareholders only are the | losers, for the redemption protects the people. Without that limitation all the clauses for pre- | | tended protection of the people, who must receive the notes, are delusions ; mere cloaks | for robbery. In the free banks provided for in the present | | bill it is supposed that the deposit of govern- | ment bonds will protect the people as thor- | oughly as the deposit of gold would; but this is an idleand mischievous pretence. Here are | Southern men in Congress openly declaring | themselves in favor of the repudiation of the national debt—the repudiation of those very | bonds on the supposed security of which the | | people are compelled to take the bankers’ | notes in exchange for their goods and their | | labor. Not only does a Southerner here and | there talk thus, but it is apparent by the Southern vote that the whole Southern repre- | sentation is inclined that way; and there is | | reason to believe that the Western members | sympathize with the notion. Bunt, even short | of repudiation, the pretended redemption in | legal tenders isa cumbersome and impracti- | cable process, of which the people can never | avail themselves; which must be done through } banks, and will itself only open the door to | new processes of plundering. Agen inevitable consequence of the enacte | harbor, and that in the strange and almost un- | gle life has been lost nor any serious bodily | | from the unfortunate Europe, if, indeed, the | might | communication between Europe and America | miles of Valencia and in shallow water, out any money at all; for it is, in one sense, Some Startling Revelations. them. The subject is of too much impor | ment of this bill the country will be left with- The Cost of the City ‘Government— | various propositions that may come before | favored districts; but, though the cause be clear, the fact is none the less a scandal and 4 bill for the ultimate restoration of specie | The roport of the Commissioners of Ac- | tance for that The people of New York will} a shame. But rapid transit is the whole payment, but for restoration by the terrible process of stealing from the people not only the whole difference between the value of paper and specie, but the whole sum repre- sented by the money in actual circulation. Money, as banks organize under the new bill and pour forth million after million, will remain as mere scraps of paper in the hands of unfortunate holders who may have given value for it, and the people will be reduced to barter till the urgent necessity tor coin draws it into the circulation. General Grant is of opinion that we ‘can never have permanent prosperity until specie basis is reached,” and if he signs this ruin of the people. If the President regards the interest of the people, the prosperity of the country, its safety, and even its honor, he must veto this bill. It is impossible to be blind to the fact that a currency ring has pos- session of Congress, and if the President is | the defender of the people against those | schemers he must stamp out their project and hands of their natural enemies. Congress is | a vague political quantity that comes and | goes, and every Congressman may shift the responsibility from his own shoulders in one way or another; but upon the President who signs a bad law falls directly a distinct personal responsibility for all its consequences, avd we believe that if the President will fully con- sider this fact he will veto this most iniqui- tous bill. | The Two Steamships—The Europe and the Greece. | Since the unfortunate case of the sinking of the Ville du Havre with her living freight we have had no such sensation connected | with Atlantic steamships as that which was 50 | fully and graphically reported in the Hrnap | of yesterday, and regarding which we give addi- tional details this morning. It is, as it ought | to be, a source of gratification to all of us to | know that the Greece has arrived safely in our exampled circumstances of the case not a sin- | injury sustained. From the first moment that danger was apprehended onboard the Europe, including the transfer of passengers to the Greece, the rescue of the prize crew by the | steamship Egypt, as well as the voyage to and | arrival at New York Harbor of the Greece, with | all on board safe—we have now the full history. It is a strange tale—stranger than the novelist | ever told or conceived—full of sor- row, of suffering, of agony even; of daring, also, amounting to heroism; of acci- dents, disappointments and bitter regrets. It furnishes a striking revelation of some of the | more prominent characteristics of modern life; and we are willing to admit that, if it indicates some of the lower features of our common humanity, it also displays some of the higher. The ‘Thank God!”’ is frequent in the story, and never, perhaps, was the familiar phrase so honestly and so earnestly expressed. ‘Thank God !’’ we say, that mat- ters have resulted so well to all concerned. The National Steamship line has won golden opinions from this misfortune of one of its greatest rivals. It was a National steamship that rescued the passengers and crew of the unfortunate Europe and brought them to this ; port. It was a portion of the crew of a National steamship that undertook to save and take to port the sinking vessel. It was another National steamship that, when it was found necessary to abandon the Europe, appar- ently in a hopeless condition, took on board the prize crew, and thus saved their lives. For what it has done, and done so nobly and so well, the National Steamship line is en- titled to the highest praise. As to the matter of salvage there can be no doubt in any impartial mind. Whatever has been saved prize crew gathered anything from the sink- ing vessel before boarding the Egypt, has been saved by the servants of the National line, and to all just and reasonable compensation—to whatever, in fact, is due by the salvage laws, that company is fully and fairly entitled. Had the prize crew brought the vessel into port there is no doubt that she would beva | been adjudged an abandoned vesse! from the moment she was desertcd by all her officers | and men; for, without a soul on board, she was the property of any craft that come along and take her. Of the different reports and of the discrepancies of statement we are not disposed to make much account. Captain Lemarie and his friends, naturally enough, feel grieved and disappointed. Who would not in the same or similar circumstances? Let any man think of and try to realize the confusion and excite- ment inseparable from the transfer of so many passengers, and he will have no difficulty in conceiving how possible it is that Captain Lemarie misunderstood Captain Thomas and that Captain Thomas misunderstood Captain Lemarie. The French line has long been a favorite with the American people. No one who has travelled by that line can ever forget the kindness and courtesy of the officers and their extreme consideration for the comfort of the passengers. To travel by that line is to travel under the care of gentlemen who know and appreciate the amenities of life. In this the hour of their misfortune the Transatlantic Steamship Company is entitled to our sym- pathy. A record such as theirs is not marred by one mishap. Accidents at sea will occur under the most perfect management. Break tn THe Tevecrarw Cane ov 1866.— This news some years ago would have created uneasiness and considerable embarrassment | to business, so important has telegraphic | become. But now there are two other cables | in good working order. It appears that dur- ing a terrible hurricane off the southwest | coast of Ireland on Monday the cable of | 1866 ceased working. The locality of | the damage has not yet been ascertained ; but it is not, probably, far from the shore, as it was caused seemingly by the hurricane. The supposition is that it is within twenty-five With | threg cables we are pretty well secured against entire suspension of communication with Europe; but there is work enough for more, particularly if the charges were reduced, and we hope the time is at hand when the public | government for last year. This is singularly | Interest paid trom sinking fund | be? It is due to the people that some ex- will not have to depend upon the three cables ( now laid. counts of the warrants drawn by the Comp- troller on the Chamberlain during the year ending November 30, 1873, is published in the City Record. The details on which the report is based have been called for by resolution of the Common Council, and, while they will necessarily form a bulky document, they will no doubt furnish some curious and interesting information. The synopsis of the report pre- sents some suggestive facts. The total amountof warrants drawn during the year, sibel all accounts, appears to be as fol- lows :— City and trust accounts... Spectal and trust accounts. Sinking fund for redemptio: Sinking fund for inte: on city debt. County warrants... seep eeeeeseeee TOtAl ON All ACCOUDES. om... .e00ee see ee $77,648,118 Of this large amount of expenditure the fol- lowing appears to have been made in pay- ment of the public indebtedness : — Annual instalment of floating debt fund, stock of 1878, $130,763 Redemption of dock s' },000 Redemption of voluntee! fund bonds, No. 9 000 Assessment bonds 605,000 Ceotral Park improvement bondi 80,000 Park Department improvement donds. 300,000 Revenue bonds of 1872, 1873 aud 1874 7,427,900 Street improvement tund bonds. 500,000 Sinking fund redemption. 4,438,959 Soldier’s substitute boul De 500,000 + 4,145,100 Total debt paid.......... + $21,677,722 If we deduct this from the total amount of warrants drawn we find the cost of running the city government from November 30, 1872, to November 30, 1873, to have been $55,970,396. All we can discover directly chargeable as old matters in this account are $49,771 for ‘‘arrearages of 1871"’ and $332,602 for ‘‘judgments.’’ Deducting these two sums, $382,373, and we have $55,588,023 as the running expense of the city and county at variance with the statement of Comptroller Green and Mayor Havemeyer in January last, that “the expenditures for 1873 were about $32,000,000.’’ Can the Mayor and Comptrol- ler explain the important discrepancy ? But even this $21,677,722 is not, in fact, a reduction of the public debt to the whole | amount. A portion of it, although seemingly | paid and wiped out of the debt, 1s only changed into ‘consolidated stock’’ or some other de- scription of security, and appears again in the public indebtedness under some other name. This is in accordance with the Comptroller's | “bridging-over’’ policy, which his organs call “paying as we go.”’ We find in the report of the Commissioners of Accounts the tollowing items paid for in- terest on the city and county debt for the year ending November 30, 1873: Interest on city debt...... Interest on county debt...... Tota! paid for year’s interest. This amount will pay interest $135,700,000 of debt at seven per cent, or on on . $141,650,000 of debt, calculating $100,000,000 at seven per cent and $41,650,000 at six per cent. But Comptroller Green and | Mayor Havemeyer have stated the total debt | of 1873 to be $131,204,571. Are we paying more than seven per cent interest on what we do owe? Are we paying interest on more than we owe?--or is the debt statement of the Mayor and Comptroller a greater misrepresen- tation than the trial balance sheet of the Finance Department has already shown it to planation should be made of these singular discrepancies. It is impossible to crowd more than two semi-annual payments of in- terest into the space of twelve months, and hence, if we have actually paid warrants to the amount of $9,498,858 for interest in one year, it is evident that our debt, some of which bears six and some seven per cent in- terest, must have been more than $131,204,571. The report of the Commissioners of Ac- counts presents other interesting features for future examination. It is sufficient now to direct attention to the startling fact that over $77,000,000 was drawn on the Comptroller's warrants in 1873, while of this enormous amount but little more than $21,000,000 was for payment of the public debt. The mere | statement implies a series of unaccountable deceptions or blunders in the Finance Depart- | ment, for, as the warrants are traced one by one and fully examined, it is scarcely possible that there can be errors of any magnitude in | the report. Another explanation from Mayor | Havemeyer is clearly in order. The New York Reprosentatives at | Albany and the Rapid Transit Ques- | tion. Five Senators and twenty-one Assemblymen | from New York sit in the State Legislature at Albany. Their united voices in favor of one rapid transit bill for the city could not fail to | carry great weight and to exercise a controlling | influence over the action of the Legislature on | are thriving on this support alone, while sub- | this important question. Heretofore they have | been comparatively inactive in regard to a sub- | ject which is of greater moment to the city | they represent than all the rest of the legisla- | tion of the session put together. It was left | to Mr. Eastman, of Dutchess, to put into the form of a bill the wishes of the people of New York, and until Colonel Charles 8. Spencer avowed his intention to take up the subject— which he has done with his accustomed | energy—it was not positively known in | what position the New York delegation would | be found when the time tor voting on the va- | rious measures should arrive. Thé people | have naturally been surprised at this apparent | indifference on the part of the city Senators and Assemblymen, especially as the principle of a rapid transit commission has been in- dorsed by the Common Council and by the almost unanimous voice of the press. The Eastman bil is likely to come before | the Assembly to-day, and the rumor has been | circulated that the opposition has nearly died | out and that the Vanderbilt bill, its most | dangerous rival, is to be withdrawn, We are | not disposed to accept this gratifying intelli- gence with entire confidence ; nevertheless | we believe that such a result may be secured, provided the New York Senators and Assem- | blymen wil unite in demanding it in the | name of their constituents. The representa. | tives outside the metropolis could not | refuse to respect the wishes of its million of inhabitants expressed without a dissenting voice. Even the rural Lincolns must be put | to shame by such a demonstration. But it | will not do for our members to remain silent expect them to take @ positive position on the rapid transit question and to make their in- fluence felt. The principle of a commission is strongly indorsed by our citizens and is not in conflict with the interests of any honest project for a rapid transit line. We look toa commission as the most certain means of car- rying out such projects. We hope, therefore, to see the Eastman bill accepted as a basis for a general law on the subject, and to find the New York delegation united solidly with Colo- nel'Spencer in active support of the measure. Steam Lanes. ut The sad fate of the Atlantic, the loss of the Ville du Havre, the abandoned Europe, the numerous marine disasters reported almost daily on the broad track of the Atlantic now ploughed by outward and homeward bound steamships, demand that “steam” lanes should become a fixed maritime regulation. Unless immediate action be taken to establish these highways, in order that vessels may follow them with accuracy, calamities even more harrowing than those which have shocked the world during the past two years can scarcely be avoided. We do not say this to cause alarm, but simply to demand the ounce of prevention, which involves little else than an intelligent maritime commission, having representatives from the English, German, French and United States governments. These delegates should be invested with adequate powers to fix upon the charts of the North Atlantic the courses of all steamships sailing from American, English and North Continental ports, bound on trans- atlantic voyages. The practical method of arriving at the results we have persistently demanded involves no very profound states- manship. Let one of our most eminent steam- ship owners himself—one, for example, who has already adopted a “‘lane’’ for his vessels— present the subject to the Chamber of Com- merce. That body, having all the statistics of the port in its keeping and having the neces- sary reputation to cause its action to be re- spected, should make an immediate report to Congress, when it would probably be referred | to the Committee on Commerce, Simul- | taneously with this action the Chamber should likewise transmit memorials to the Chambers or analogous bodies at Liverpool, London | Havre and Bremen, asking that they too memorialize their respective legislative bodies in favor of the immediate considera- tion of the subject of ‘steam lanes.” Al- | ready Mr. Anderson has introduced a bill in the House of Commons, and this may be taken as the entering wedge, although any attempt to legislate by one: nation alone will prove futile unless there be harmonious and simultaneous action on the part of the four governments we have named. In the United States, if the Chamber of Commerce heed our advice, we would suggest that the Committee on Commerce in the House of Representatives appoint the Chief of the Bu- reau of Navigation, the head of the Hydro- graphic Office, the President of the Chamber | of Commerce, a reputable steamship proprie- tor and one captain who shall not be of the same line as the latter, but who shall have the best sea record in the maritime service, to represent the United States in &@ congress to be convened in this city or in London during the summer. When these steps shall have been taken—and it requires but little activity and clerical labor to place the whole subject before the maritime world—many practicable plans can be pre- sented for farming out the sea, erecting theo- retical danger posts and defining the various | belts of travel, thus convincing the traveller that there is security of life and a law at sea which even the captain must respect. Rapid Transit and Real Estate in | the City. It is evident that the want of proper facilities for moving from one to another part of this city has been a heavy load for city real estate to carry. It has concentrated increase of value at certain favored points and lett other points far behind, for no reason but that they are less accessible. Exactly what value, as measured by money, has been added to the country districts of the State of New Jersey by the wealth of this city | we are unable to say; but the aggregate must be very great. We heard a few days since of a case in which a landowner in one of the New Jersey towns where New Yorkers sleep had sold for two hundred thousand dollars the land which his father had valued at two thousand dollars. This may be an extreme case, but we fancy it is rather nearer to the middle | point. This addition to the wealth of the neighboring State extends to points as far as | Summit, on the Morris and Essex road; to Ridgewood, on the Erie, and to Summerville, onthe Central New Jersey; and fine towns urban palaces, ranging in value up to a hun- dred thousand dollars, have been built on hillsides where ten years ago the solitary Jerseyman wondered why, in the economy of nature, any land had ever been made so near to the perpendicular that it could not be ploughed. These facts should be weighed as part of the problem of rapid transit. All the wealth so added to taxable property in New Jersey is subtracted from taxable property in this State, if not even in this city, by the want of an easy and rapid communication between the neigh- borhoods where the merchant transacts his affairs and those where he would have his | home. ‘He can cross a wide river, travel twenty miles in New Jersey and get to his abode with far more comfort and in less time than he could go to a home in the upper part of this city. And this is not merely in the summer, when the sail over the river is pleas- ant and the run into the country such as would delight any mortal creature with healthy sensations; but in the winter the difference in comfort is even greater in favor of the trip into the country over that uptown. For in the city he freezes in the horse cars— if he can get in at all--or struggles on foot through miles of slush and snow in the horri- ble streets; while for the other trip he has a boat almost as comfortable as home itself and a good seat in warm cars. It is no wonder, therefore, that this city is robbed to enrich New Jersey; that a wealth is carried out of the State which might almost have. been enough, if kept in this city, to have brought the real estate of tho far up sections and give a simple vote this way or that on the. te an equality in value with thatof more, secret of the remedy. New Jersey has rapid transit, and therefore it has the homes of thousands of our people who would prefer to have their dwellings on this island, but whe cannot pay the rents at accessible points, and cannot wear out their lives with the daily journey to the remoter points. Shall we have .the rapid transit that is necessary, or shall we drivel on in the hands of jobbers and specula- tors until those driven from us have built up on the other side of the Hudson the city that should grow beyond the Harlem River? Here isa problem for the real estate men. ‘ With a proper system of communication through the city districts that are neglected, and improvements that lie abandoned would revive with the greatest energy, and real estate on this island, taking the whole island through, would be worth more per foot tham at any other place in the world. Ove Grear Wesr.—Professor Francis V. Hayden, Chief of the United States Geologi-~ cal Survey of our Territories, will tell an in- teresting story of bis important explorations in the wonderful country of the Yellowstone before the Geographical Society, at Asso- ciation Hall, this evening. It is singular that no unsettled portion of the world is so little known as the centre of our own Conti- nent, to which this eminent gentleman has devoted the best years of his life, discovering wonders unsurpassed in the world, unfolding with his fascinating pen a panorama of moun- tain peaks, stupendous canyons, mud vol- canoes and lofty geysers. That he comes to the East to speak of this scenery leads us to hope that our own tourists and travellers may acquaint themselves with the attractions of the United States before rushing into coun- tries like Central Asia and Equatorial Africa. YACHTING AND ROWING. Aquatic Sports in the Mediterranean— Yachting and Rowing Contests—Ameri- can Skill and Science Successfully Rep- resented. NICE, March -16, 1874, The mt-caréme, or Middle Lent holiday, wae celebrated in Cannes by a grand regatta, given under the auspices of the Mediterranean Yacht Club. The day dawned unpropitiously, There was 8 light fall of snow, with dark clouds and disa- greeable wind early in the morning, but towards. noon the weather brightened and the clouds and snow disappeared. THE CONTESTANTS. There were three classes of boats—first, five metres maximum length; second, six, and the third seven, and another class for cabin yachts. The entries were quite Dumerous, being between thirty and jorty in all the classes. Every variety of 1orm and rig known here was represented. THE COURSE was a triangular one, within full sight of the shore, which was thronged with crowds of people. Each | angle of the course was about a mile and @ quarter | long, und sailing over'twice made the entire ‘length seven and a half miles. THE RACE, The start from anchor was effected at half-past. | two, the wind at the time being very light and | panting, generally irom the southwest, Roi dea isies was the first yacht in at four o'clock; it | was followed by the Helen, of Nice, in three min- | utes, ana by the Fantine at 4h. 15m. There was ‘then a long gap, none of the others arriv- jing until 5h. 45m. it ig @ little singular | that these three boats mentioned so far im | advance of the others were purely Ameri- can in their rig and build, tne Roi des | Isles, 38 feet long, much resembling the | well’ known yacht Vision, The Helen, 17 feet long, was also of an American style. She had mane herself famous about six weeks since by the | descent of the river Var. The Fantine, 16 feet , long, 18 an exact copy of the boats at Gowanus Bay. AT THE OAR. There are also, in addition to the sailing races, several rowing matches among the boats con- nected with the French squadron, anchored as | Golfe Juan; also a match among the steam | launches. An being in ful view of the shore the } Scene was very interesting and enlivening for the spectators. NEW YORK REPRESENTED. The Helen was commanded and sailed by Mr. W. G. Herrishotf, who is well known among the yachts- men of New York. Itis nis first prize im ioreigm waters, THE PRIZES given were 100 francs to the first boat in of each Class, and 25 irancs to tie second; also to the | Members of the yacht club a champion cup of 1,000 | francs, the possessor of which must be the winner of two out of three races. The Fantine took the first prize in the first ci: the Helen the first prize in the second class an the Ar the first in the third class, the Roi des Iles taking the Members’ Cup. None of the second prizes were awarded, as the rest of the boats did not arrive within the time stipulated by the laws of the club, and were therefore ruled-out. OHIO DENOUNCES INFLATION. A Mass Meeting in Cincinnati—An Elas- tic Yardstick or An ‘Hlastic Bushe& Equally Absurd as Elastic Currency=— The President Appealed to. Crnornnatt, April 14, 1874. A public meeting was held in Pike’s Opera House | to-night to give expression on the subject of in- flation. The platform was crowded by prominent | bankers, manufacturers and busipess men, The | boay of the house was filled with the most | intelligent people in the community. Speeches | were made, in which the absurdity of inflating the | currency was promiuently and forcibly exhibited. Judge Stalio was particularly felicitious in this | direction, and when he said that there was just as | much sense in talking about an elastic yardstick ‘or anelastic bushel as an elastic currency; his | remarks were received with thunders of applause. Several of the best and most fuent speakers in the city occupied the attention of the meeting for over adopted unanimonsly :— | Whereas, any increase of the irredeemable paper cur- rency would be a departure trom sound financial prinet- | ples, anda violation of the repeatedly pledged faith ot the nation, and ‘Whereas, Congress, by a bill already passed by the | senate and by votes upon measures pending in the | House, has shown a disposition to authorize an increase | of paper currency without making any provision for the | redemption of the legal tender notes, therefore be lt Resolved, That We. earnestly protest against | increase or irredeemable paper money, 80 dangerous to | our material interests, destruction of our national credat ‘and demoraliziag to the community. Regolved, That we wil! oppose ‘in every possible way the Iniquity of inflation, with its inevitable train of speculation, demoralization, bankruptcy, repudiation and ruin. ‘Kesolved, That we thank the Senators from Ohio far | meir conspicuous oppontion to the Banking and Cur- | rency Bill that has passed the Senate, and we call upon our representatives from Hamilton county to oppose all measures that will delay the restoration of the specie ard. Stibxolved, That we would respectfully remind the President that the exercise of his veto power, should 1 | be needed, in defence of the prosperity and’ credit | the country, would meet with general commendation. An extract from a private letter from Senator | Thurman was read to the meeting, in which the | Senator complained of the misrepresentation and | attacks upon him for his course on the sub- ject of inflation, and stating that he had chosen his. position atter due deliberation and would main- ‘tain it. He also stated that he intended soon to | deliver # speech at length upon the subject, in which he would more clearly define himself. The speech of Hon. George E. Pugh, formerly , Senator irom Ohio, delivered aimost imprompta, | abounded in telling hits, and was received with | Marked enthusiasm. Letters were read from | Murat Halstead, C. W. Rowland and Judge Head- | Jey, members’ of the Constitutional Conven- | tion, heartily concurring in the sentiments | of ‘the meeting. A _ speech by Richard Smith was well received. The fact that the meeting was presided over by George T. Davis, an ex-President of the Chamber 9/ Commerce, and that there was a list of 100 vice presidents, selected from all branches of business, manufacturers, merchants, tr capitalists, and also the fact tha’ | unexpeotedly large, is a wholesome assurance that there 18 a strong conservative iceling in this com- munity against the indation of trredeemabie cur- | rency. vracing bankers, men, clerks and meeting was THE BAR ASSOOIATION, A regular monthly meeiing of the Bar Assocta- tion was held at the house of the association last Mr, Henry Nicoll referred to the recent deat of Judge Edmonds, who was a member of the asaoci- ation, and moved that a committee of five be ap- pointed by the Chair to draft and report at the | Next meeting suitable resolutions on nis decease. The Motion was adopted, and the Qhairman a on such committee Messrs. Nicoll, Daw osworth, Boardman and Peabody, Mr. Delafield reported that bile relating to the extortionate fees now charged by the Coun! 0 of New Yor . Gented (0 the Legislature, si two hours, and the following resolutions were ° evening, President William M, Evarts in the chair, *