The New York Herald Newspaper, April 28, 1874, Page 8

NEW YORK HERALD BROADWAY AND ANN STREET. JAMES GORDON BENNETT, PROPRIETOR, THE DAILY HERALD, published every day tn the year. Four cents per copy. Aunual subscription Price $12. All business or news letters and telegraphic despatches must be addressed New Yorn Hezay. ii Sw 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. Volume XXxIx AMUSEMENTS THIS “AFTERNOON AND EVENING ae ‘Broad Phipteth y reec EAST LYNNE, at wa rner ot ree. —' a PAA Mm; iogos a. 40 P.M, Tals MAN OF MYSTBRY, | ger. M.; closes at lv:id P.M, Sophie Mules, Gussie de Wo. Ls PARK THEATRE, Broadway and Twenty secund sivet.—LOVE'S PRN. SNoK ars F Mj closes at ib’. M Charies Fechter, CERMANIA TH" ATRE, Fourteenth street, near Irving piace “MLLE, ANGOT, @toP. M.;closesatil Ya. Panay Junausche’ DALY'S PIFTH AVENUF THEATRE ‘Twenty-eight aud" roadway.) qMOusrECR ALPHONS£, at 8 P.M. ; Cloves al ow 4 preg, Miss Panny Daveoport, bijou iieroa mr P THEA'RE COMIQU! Re, SM Broadway.—\ AKislY AN Tetttawenr, ats M. i closes at 10:30 P.M. WALLACK’ Pee ca and Thirteenth closes ac Li P.M. Mr. 1 eet. — H VETERAN, ats ter Wallack, MissJedreys MRS, CONWAY'S yg oon THEATRE, Washington street, near Fulton street, Brook! THE WL WOW OORSS, at BP. ML; cises at . i Couldock. OLYMPIC THBATRI web ear detween Houston amt bieecker streets. — Pia y ILL and yo a NIERGAINMENT, at M. ; cloves at 10:45 P.M. GRAND OPERA HOUSE, Highth avenae'and Twenty-third sreet.—DON ALD MoKAY, a3? M.; closes at li, M. Oliver Doud Byron. BROADWAY TH roadway, oF site — Was'iin; UMPTY AT Das. G. L. Fox. ATRE, place.—HUMPTY hc, at8i. di; closes at UP. ML BOOTH’S THEATRE, Gixth avenue, corner of wouty-third streot.—ROMEO No JULIBG, at 8 P. M.; closes at 10:5 P.M. Mise jeilson. BOWERY THY, ATRS, Bowery.—MAOBETH, at 5 P. M.; closes ath PM METROPOLITAN TH! ATRE, No. 685 Broadway. —V aney ENTSRIAINMENT, at 740 P.M. ; closes at 1030 P, M. Broadway, between Prince or ery ENTSKTAINMENI, a closes at i0 330 P. M. NEW PARK THEATRE, BROOKLYN. ROBIN HOOD, at@ P.M. Lydia Taompson Troupe. LYCEUM THEATRE, Fourteenth street, near iris avenue.—LA MARJO- LalNé, ac 8 P. M.; closes at 1 P.M. ACADEMY OF MUSIC, Fourteenth street. corner of Irving 'place.—Strakosch yates Se a eee bes) fs BP. M.; closes at 4 mcca. Cary, Campania! Del Puente, Nanueitti. 1 aces BROOKLYN ac. cape Res ‘aateand Grand Testimonial Concert, a TONY PASTOR’s OPERA HOUSE, No. 201 Bowery.—VARI. TY ENTERTAINMENT, at 2:30 | =e closes at 520 P.M; aboats P.M; closes at li BRYANT ¢ OPZRA HOU-E, arenas Street, pear ixth avenue. Sergi MIN- SY, de., at 8 P. M.; closes at tu i’. ROBINSON HALL, Sixteenth street.—ART 1 NTKKITAINMENT, at 8 P.M, COLOSSEUM, corner of Thirty-Aith street.—LONDON IN | yM.; closes at5 P. i, Same at7 P. M.; closes | Broadwa: aE 1 QUADRUPLE SHEET. New York, toes April 2s, 1874, es: me From our aS this morning ‘the probabili- ties are that the weather to-day will be cloudy, with rain. Ir is Now Proposxn, according to a Lon- don journal, to raise a statue to Lord Byron | in Venice. A committee of Italians has been | formed to raise a fund. No Englishman ever | did more for Italy than Byron, and it is fit that Venice should pay his memory this honor. | ea en eS | Curesx.—Few of our readers know, perhaps, | the great value of the cheese sent to England by the United States. During three months ending March 31 the value of the cheeses received from America was $2,610,230—a gain | over the corresponding quarter of last year | of more than four hundred thousand dollars. Tax ‘Tempra of the inflationists may be in- ferred from a remark ina Western journal, that | “Ulysses S. Grant disgrace‘ully broke his pledges, balked the will of the people of twenty-five States, and exhibited himself as | * the willing, cringing creature of the Eastern monopolists.”” It is quite o mercy that the President did not sign the veto in midsummer. A Desrnvctive Fine broke out yesterday | morning in the town of St. John, New Bruns- wick, on the north side of King’ssquare. Two hotels and several stores were completely gutted. Some of the boarders narrowly es- caped with their lives. The property owners taust lose considerably, as the buildings were but imperfectly insured. It is not stated how the fire onginated, Mowoment To Lrvinastonz.—A correspond- ent of s Scottish journal announces that the towh of Blantyre, in which Livingstone was born, will build a monument to his memory aa “the self-sacrificing pioneer of light and truth.” ‘‘We propose,”’ says the writer, ‘to erect an obelisk with the word ‘Livingstone’ inscribed, so that the young of succeeding generations may be reminded of the noble career of the weaver boy of Blantyre, whose body a mourning nation is about to lay in Westminster Abbey, to find there a resting place beside Britain’s greatest and best.” Tar Wasnrxctox Farepman’s Savinos Bank ‘was reported early yesterday to have closed its doors, but by a late despatch we are informed that the report was uufounded. It appears that during the forenoon there was something of a rush by depositors for their money, ru- mors having been circulated that the bank was embarrassed ; but this sttempi to force a run on the bank was checked by the managers ap- plying the rale in their charter which allows | the bank to require sixty days’ notice previous | to the withdrawal of deposits. Depositors neoding money for current business purposes are accommodated. The bank managers aro doing just what the savings banks.of this city did during the late panic. So far, then, the action of the bank is according to law, and it Let the Line Be Drewn! ‘The financial discussion has not besn closed by the voto of the Inflation bill. It is, really, the opening of the discussion. Strango as it may seem, the passage of this bill was the first attempt that had been mado sinco the war to determine a financial policy. The result is, unfortunately, that between the President and Congress there 1s what seems to be an irrecon- cilable difference of opinion. The President will sign no bill that does not provide for the resumption of specie payments. Congress will pass no bill that does not provide for a new isane of inconvertible currency. But we also have a suggestion that seems to spring from the audacious mind of General Butler, that the Senate bill be passed as it now reads, or, in substance, as am amendment to an appropria- tion bill. The effect, of such an expedient would be to throw upon the President the grave | | and cruel responsibility either of approving | the bill or of vetoing an act of appropriation. Thera is no executive measure so rave in its character as the veto of an appropriation bill. It stops all the wheels of povernment. No money can be paid out for the army or the navy or the civil service. Adminis‘ration comes toa dead lock. The absolute control which the representatives of the people hold oves the taxation ond expenditures of the nation gives them an irresistible power, a power that has always been appealed to in times of revolution. If the inflationists in Congress should ro- solve upon an issue of this kind it will give an entirely new phase to the financial discus- sion. It is nota new expedient even in our ! American affairs. Dur<g the domination of Tammany Hall it was the custam tor tho leaders to introduce any particularily objec- tionable swindle into the tax levy at the end of the Legislature. Then, when some Gov- ernor of easy virtue hesitated to sign the bill, he was implored to think of the ruin that would fall upon so many hundreds and thou- sands of the poor, who would be thrown out of employment if there was no more money. The result was that Governors of easy virtue signed the tax levy, and so from year to year the swindles went on, with the tacit approval of the executive authority. We have little fear that the President will conseat to any such arrangement. But it is certain that an issue of this nature between the President and Congress would assume exceptional gravity. The House has absolute power over the appropriations, and if it does not choose to vote any money the machine will come to a standstill, Happily, under our elastic and delicately contrived mechanism of government we have avoided such controversies heretofore. Nor have we seen them in England for a long time, because in England the government is the expression of the pending Parliament, aud not, ‘as with us, elected for a term of years. But we have seen just such a crisis in Germany. The Emperor submitted to the German Parliament a bill determining the quota of the standing army as @ permanent quota, to be raised trom year to year by the government without any future consultation with Parliament. The Pirlia- ment replied by declining to assent to any such measure, reserving the right to vote the army from time to time, as in its judgment was deemed best, and not leave it to the uncontrolled will of an Emperor. The contest assumed violent proportions. Appeals were made to German unity, new-born and tender, and re- quiring military care and nourishment; to the fears of France, who was ssid to be pant- ing for the hour when revenge would summon her legions to the Rhine; to the dread of Russia, which was meditating a tremendous campaign against the Baltic provinces. The Emperor publicly menaced his generals with the results of the opposition, a ‘‘crisis’’ and the violent dissolution of the Parliament. Moltke, the ‘man who is silent in seven languages," took the extreme measure of making a public address warning Germary and Europe of the peril of defeating the imperial will, Bismarck procured himself to be ‘‘interviewed,"’ tureat- ened to resign and took to his bed in a quar- relsome temper. But the Purliament re- mained firm, and the ‘‘crisis’’ was compro- | mised by the Emperor withdrawing his demand and the Parliament votiog a standing army for seven years. It would be most unfortunate were we to have a constitutional crisis arising out of the to reconstruct the finances of the country. But the temper which his marked the diseus- | Way cannot we learn the truth about it? sion of the whole inflation question from the very outset of the debate has been unpleasant. The argument in favor of infla- tion was based on sectional grounds, and was consequently to be opposed on patriotic grounds. We have had one sectional contest on the question of slavery, and we contemplate with horror its renewal on any other issue. More than all, the honor of the nation has been pledged over and over again to resumption or to a policy looking towards resumption. Here and there a statesman of free imagination, like Judge Kelley, or of grotesque, inscrutable genius, like Senator Sprague, takes ground in favor of illimitable currency, supported also by General Butler, whose genius, as we have shown, has the compass-like quality of always pointing towards any measure autugonistic to the country’s purest sense. But, with these exceptions—we were about to say ccnspicuons, but, more appropriately, eccentric, excep- tions—the honest sentiment of the nation is against the policy of inflation. There is not a singlé point made in its favor that has not been destroyed in an instant. It was dis- honesty assuming the phase of expediency, and had it succeeded we should have ouly en- deavored to remove a lesser evil by orcating a greater one. The West, which wus to obtain “relief ;"’ the South, which was to win new life to her drvoping industries; .the laboring man, who was to be so much ‘‘assisted,” would have been the worst sufferers. ‘The supporters of inflation seemed to be in the panic of a political distemper, and they demanded the very remedy which woyld have assured death. They were in a discased eon- dition, only another form of that moral disease which has so long afflicted the country and which history will call the war pestilence. But wo have only to hold our ground and draw the line! We must appeal to that public opinion which is a “‘aigher law” even to Congressiaen from the pine forests and the prairies. The discussion is of that character may meet ail its liabilities. Let us hope the poor freedmen have been alarmed unneces- warily. that the more light there is thrown upon it the better. We fear nothing from Congress or the people but ignorance. It does no basm to | call the friends of resumption “‘Shylocks,"’ and “money sharks" and ” Be it our duty to direct the attention of the people to » few sound principles—that inflation is repudi- ation; that resumption is financial recon- | struction; that an increase in the volume of inconvertible currency will, decrease the in- creasing the value of all commodities; that, once embarked upon this policy, we damage our credit abroad to a greater amount than we could possibly hope to gain even in| nominal money value; that ‘reliof'’ will | | come to the South and West when cotton and corn are sold for gold, not paper; that there can be no true financial advantage by violat- | ing those time-honored laws of finance which underlie the success of every great moneyed | | commonwealth; above all, that we cannot dis- | and the government in contracting the present debt without taking the first practical step towards repudiation and dishonoring our credit before the world. These are singularly clear and logical propositions. What we hope is that reason and thorough investigation will make their wisdom apparent to every citizen. o crisis, let it come. It will only draw the line clearer, deeper, broader. It will be o sudden an: marvellous simplification of pol- ities, There can be only one result. No tem- porary advantage that the inflationists may win in Congress will change the result. Only let the line be drawn between resumption and isflation, between solvency and discredit, be- tween national honor and national shame, and the people will speak with a vcice plain enough to be heard even in those dense pine forests and far distant, looming Rocky Mountains | from which the statesmen of inflation have drawn their inspiration and their financial genius. The Eulogies on Charles Sumner. The principal business in the Senate yester- day was the delivery of the eulogies upon Charles Sumner. As was fitting on such an occasion the opening address was made by Mr. Boutwell, who was Mr. Sumner’s colleague at the time of his death. * The address was short, but it paid a high tribute to the distinguished Senator's virtues as a man and a statesman. Mr. Boutwell especially emphasized Mr. Sum- ner's love of liberty and his services in that behalf, Mr. Thurman followed in an address which was mostly a tribute to Mr. Sumner's personal character, and then came Mr. Sher- man, with an appreciative analysis, rather than a mere eulogy. Equally fitting with the opening df the proceedings was their close, for this task was allotted to Mr. Anthony, the most graceful and sympathetic orator in the Senate on such occasions. In the House the principal address was by E. R. Hoar, and both branches of Congress ad- journed out of respect to the memory of the great dead. It is unnecessary that the Henaup should again add its testimony to the generous voices of political opponents and the affec- tionate praises of devoted friends, as Mr. Anthony so gracefully said in the opening of his eulogy. The grave has closed over a great man, a ripe scholar, an experienced states- man and a sincere lover of liberty. His praises have been sung by political friend and ioe alike, by the Senators who sat with him for years in the arena of his public service, and by admirers not less warm in their attach- ment who never saw his face and never took ; him by the hand. His work was done, and its fruits remain to bis country and his fame to his countrymen. Tue Exte Scanpau.—We are glad to learn that a committee of experienced accountants have left London for the purpose of coming to New York and examining the Erie books. Every few days we have one startling sensa- tion after another about Erie—that there has been one fraud after another; that the books | are wrong; that one man steals to-day, an- other to-morrow. The community docs not know what to think. For twenty years Erie has been a ‘‘fancy stock,” and always the prey of speculators and adventurers. For twenty years there have been a succession of sensations, following like galvanic shocks, un- til the public mind has become tallous and incredulous, and no one knows what to really believe of the road. And yet the Erie Railway is one of the most important works in the | ti to the i 1 only attempt that has been made since the war | Sets Pa ena e industry oe velopment of the resources of a large section and the prosperity of thousands of people. Why cannot the people be made to know what it is as a business; whether it is really good or bad? If any committee of English experts can give us a true, impartial account of Erie as it stands it will be of incalculable service to both countries. Erie has been a scandal for years. Now let us have the truth! Hort ror Ankansas.—From a careful read- ing of the Arkansas despatches we observe that affairs between the contestants have passed into the hands of several brigadiers, We do not know how many, but we should imagine that there were a hundred or two in each faction. This is a hopeful sign. Where there are many brigadiers there is generally much peace. The tendency to become briga- diers which we note in our militia organiza- tions is a sure token that there is to be no war. So long as the rival champions sum- mon brigadiers to aid them, and divide the State up into departments to give each one a “command,” we need have no fear of hos- tilities. Tae Mississrert anp Irs Tarutanres Su. Rustxe.—According to the report of the Signal Office at Washington yesterday, the Mississippi had risen slightly during the previous twenty- four hours throughout its whole course from St. Paul to New Orleans. The rise was only two inches, however, at the latter place. The greatest rise was tour inches, at Dubuque. The Upper Missouri had fallen, but from Booneville to the mouth it had risen slightly. ‘There was a rise in the Upper Obio and the Red River. The Allegheny and the Cumberland had fallen. Notwithstanding the augmenta- tion of water in some parts, as here re- ported, there is reason to hope the worst effect of the spring flood is over. A Caution to Crug Stzpmornens—The sentence of Mrs. Connolly to one year’s im- prisonment in the Penitentiary, at the Court of General Sessions yesterday, for stabbing and otherwise ill-treating her stepchild, little ‘@ory Ellen,” HERALD, TUESDAY, APRI come of every citizen in the country by in- | | honor the solemn pledges made by Congress | But if we are to have an issue in Congress and | The Credit of the City of New York and the Public Debt. An evening contemporary reviews the | present financial condition of the city and county of New York with the object of chow- ing that while we are burdened with a debt of great magnitude our resources in property available to creditors exceed our liabilities | and render the public bonds a security unsur- passed in merit for investment. No person questions the present solvency of the city, and no person doubts that every dollar of our | public indebtedness will be paid. It may not be | very satisfactory to find that, .on a liberal vala- ation, the city property is estimated as worth about $244,000,000, of which $106,000,000 is in the parks, while our gross debt on the | 31st of March last was $136,000,000, with the prospect of a large increase at the close of the year. Nevertheless, every sane man knows that if the figures were reversed, and the debt $100,000,000 greater than the value of the city property, every liability would be duly met. The honor of the great commercial metropolis is security enough for every bond that may be legally issued on the public credit. The marvel is why we should still be paying seven per cent interest, and that bids on our bonds should range from par to three, or at most four per cent. This prodigality might have been natu- ral enough under the rule of corrupt and reck- leas men, but after nearly three years of “‘re- torm’’ administration we ought to be able to borrow all the money we require at five per cent. That we cannot do so to-day, and that the public credit is not what it ought to be, 18 due to the fact that our financial management tor the past two or three years has been marred by obstinacy, stupidity and duplicity. It is clearly the fault of the Mayor and Comptroller ot the city that ‘‘conflicting views are held in regard to the magnitude of the present debt,’’ and that ‘there isa great want of information” in respect to our financial condition generally. The trouble is tracea- ble to the anxiety of Mr. Greer to make it ap- pear that the public debt and expenditures have decreased under his management, while they have, in truth, largely incrcased, and to the amiable docility of a venerable Mayor, who is contented toshufflo along at the Comptroller's heels. No person can feel satis- fied that he knows the full amount of the pub- lic debt, because Mr. Green’s financial state- ments are artfully deceptive. Take one example. Mr. Green gives the total amount of money received in the treasury from De- cember 31, 1873, to the 3lst of March, 1874, as $20,219,866. From this he deducts total pay- ments, $18,121,566, leaving a balance in the treasury at the close of business on March 31 of $2,098,298, and he claims that the public debt is reduced by that amount. In his state- ment of payments from the. city treasury he deducts the warrants outstanding on March 31, amounting to $906,545, which, if paid, would decrease the balance in the treasury to $1,191,753. But in his debt statement, while leaving the balance in the treasury as $2,098,298, he includes the outstanding war- rants among the warrants actually paid. Thur, while on the one hand he claims credit for the whole treasury balance, on the other hand he deducts from the debt the amount of warrants outstanding and not paid, and which, if paid, would by so much reduce the balance in the treasury. Taking Mr. Green’s figures, we find the gross city and county debt on March 31 to have been $136,196,356. This is an increase of $5,000,000 in three months, since Decem- ber 31, 1873, or an average increase of $20,000,000 for the year. Since the 31st of March the issue of bonds to pay the city’s share of the State tax deficiency has been authorized, and these alone amount to nearly $4,000,000. This certainly seems to threaten a large increase of debt the present year. When we look at the estimates on which the enormous taxation of $39,000,000 is based we find that out of ull this money only $1,795,202 is appropriated to the reduction of both city and county debt. At the ssme time, tracing the stocks and bonds of the city and county which falk duo in 1874, so far as we can do so from the report of the Commissioners of Accounts, we find that the amount cannot be less than from $15,000,000 to $20,000,000. Thus, from $13,000,000 to $18,000,000 of the bonds and stocks talling due this year are to be added to, and not taken from the city debt. Tais is in accordance with Mr. Green's ‘bridging over" policy. The outlook is not encouraging, and while every person feels perfect confidence in the honor of New York city, these facts should be looked squarcly in the face. We cannot help the public credit by concealing or mis- representing our true financial condition, and the sooner the city is rid of the present mis- erably incompetent and tricky “reform” administration the better it will be for the people. Mr. Nesmrru, or Onzcon, has achieved the unenviable distinction of making the smallest speech of the session. Nesmith and At- torney General Willams were formerly po- litical rivals in Oregon, and Nesmith, under cover of his privilege as a Congressman, makes a deliberate proposition that the carriage used by the Attorney General and furnished by the government shall be disused. This seems aon exceedingly small business, and the House discussed the foolish suggestion for a whole day. We should think a debate like this would weary a sensible House, Cars.—The City Fathers have issued a ukase forbidding males of the jeline tribe to roam after midnight, at the risk of being sent to prison and fined three dollars. Where's Bergh now? Promer Acrion or THE GovERNMENT FOR ae Lovrstana Surreners.—There being a de- ficiency of supplies in the government stores on the Lower Mississippi to relieve the sufferers from the flood in that region, the Secretary of War, under the direction of the President, has sent rations and clothing from other paris, Sixty tons were sent by steamer from Indiana. The Seoretary has also ordered twenty thou- sand army rations to be issued daily for twenty-five days, besides clothing. The dis- tribution is to be left to committees organized by the authorities at New Orleans, The cost to the government is estimated ot ninety thousand dollars. Congress has been asked to appropriate that sum. It is gratifying to know that no red tape quibbles or constitn- tional restrictions were allowed to stand in the way of affording the peeded relief in the Promptest manner, The President and his ‘Subordinate officials have done woll in this matter, Senator Carpenter on the Prospect of » New Parties. Naturally all those who believe in national honesty and are opposed to an inflated paper currency are thoroughly pleased with the President's veto, and rejoico in it as a great victory over certain insidious enemies of the country’s present and future welfare, But the frionds of inflation—those tender-hearted gentlemen who want to ‘‘rclieve” the dear People, and who snap their fingers at the notion of repudiation—are persuaded in some degroe that the bill which was returned to the Senate unsigned would in reality have resulted in a great and mischievous contraction, and they, therefore, are also pleased with the veto. Perhaps the inflation lawmakers are extremely modest in their estimate of their knowledge of finance and of the results of a givon law when they tell us thata bill resulting from months of deliberation in the bost in'ormed of the two houses, and notoriously intended to inflate the currency, would really have con- tracted it Ifthe Senate comprehends so little the goneral scopo of its labors should it not patriotically go home and leave the currency to take care of itself. If, however, we take this class of inflation- ists at their word and set them down as in the number of those delighted with the veto wo find the odd fact that both the irjends and the enemies of the measure are equally pleased with its defeat; and this is not common in politics. It is the good fortune of General Grant to have pleased all parties; and yet, with startling inconsistency, those inflation- ists who are delighted with tho veto because the bill ki‘lod would have contracted the cur- rency make very wry faces over this pleasant surprise of a rejection which prevented the coh- sequences of their own blunder, General But- ler accepts and swallows the pill with grimaces which seem to indicate that ho finds it bitter, and Senator Carpenter, while ho finds the Message droll, evidently does not regard it as a drollery over which he can be particularly jolly. Senator Carpenter, as interviewed, declares it to be his opinion that there must be a “burst-up of the republican party’’ unless that party can settle this financial issue within its own lines, and so prevent its going to the country for settlement as the commanding issue of the future, to be determined only by the election in 1876 of either a rag money President or a hard money President; and further, that, even with this danger threaten- ing its failure to settle the issue, the republi- can party will still be unable to settle it unless the resumptionists strike their colors and come over to the camp of the repudiators and inflationists, and agree with them in some measure to “relieve the people.” Substan- tially the same view of the results of the veto on parties has ®een already taken ip these columns as is now attributed to the Senator; but we are far loss sanguine than he is of the likelihood that the opponents of inflation will give way and surrender in the hour of victory all the results of their triumph. He sees the only salvation of the republi- can party in the chance that the resump- tioniats may go over and ogree with their op- ponents for the settlement of the agitated topic, and, so far, he seems to us a sound politician. But in his evident confidence that the resumptionists will do this he seems to usa visionary. His argument is based on the danger to which the Eastern republicans will expose themselves by losing the alliance of the Western republicans in the presence of a reviving democracy. He holds that the re- sumptionists of the East are ‘‘of all men least abie to split” with the inflationists of the West; that is to say, if the resumptionists do not see this subject inthe light in which it appears to Senator Carpenter, but persist in their obstinate refusal to ‘‘relieve the people,” then the good republicans of the West will cease to take cars of them as hitherto, and will leave them to be carried away and eaten up by the great democrutic bugaboo. This is the sort of reasoning that is put forth by clever men who know of no worid and con- ovive of no ideas but such as ore within their party, andespecialiy when one faction of a party miscnievously conceives, as the Western republican faction has now done, that it alone contains all the worth and power ot the party, and can do without tho other factions Petter than they can do without it. In the democratic hisiory we saw a party that had been bitten by the dog who commu- nicates this madness. Southern democrats were determined to drag Northern democrats at their chariot wheols because they were sure the Northern democrats were ‘‘of all men least able to split’ with them. Determined to force an extreme programme at Charleston, they counted on the ad- hesion of the Northern demoorats in the last extremity for what seemed to them the sufficient reason that the Northern democrats would come in for fear of being caught and carried away in the whirl of the then fiercely arising black republican storm. But, as the result showed, the possibility of such a fate had fewer terrors tor the Northern demo- crates than the fate that wouid necessarily have befallen them if they had supported the Southera madmen at Charleston. All the honest democrats of the North saw that in the attitude then taken by the South the war was imminent, and they stood by freedom, while the place-huniing democrats, though they saw little hope in a new party alreudy active and in operation, saw still legs in a party where the primary necessity was to be a Southern man and a slaveowner. Thus tho Southern democrats, forcing their game, insured their own ruin. If the Western republicans accept the views of Senator Carpenter they will do the same. Resumptionists in the republican party are to-day nearer in principle to resumptionists in any other party than they are to inflationists in their owa party, and for the simple reason that the agitation involved in the words “resumption” and “‘inflation’’ is more vital than any point covered by the name “repub- licanism.’’ Eastern resumptionists have the same right to say that the West must yield as the West to require this of them, They will say it, too, and wiil believe it, and will go out of the republican party before they will sur- render their conviction on the point at issue. Doubtless the West will be equally firm, ond it is because we believe it will be, and that the difference between West and East on this point involves an “irrsprosaible conflict” —a necessary and irreconellable difference--that we believe the matter will no! be s2ttled in” | the republican lines, but will go to the coum try supported by nowly divided parties. Reliof for Broadway—A New Strees Wanted. The immense traffic in Broadway, only par- tially relieved by the opening of Laurens street through from Fifth avenue to Oanal street, requires still further facilities, It is below Canal street where the main thorough- faro of the city most needs relief, West Broad- way, with its railroad tracks, its merchant wagons and its bad pavements, is practically useless a8 a ‘highway. The merchants and the railway companies seem to think the street belongs to them, and they are con- stantly interposing obstacles to its use by the public and confining the downtown traffic to Broadway. But oven it West Broadway were as useful astreet in relieving Broadway as South Fifth avenue has proved for that partof the main thoroughfare above Canal street, it would lose much of its usefulness on account of its termination at Chambers street. Odl- lege place is too narrow. As the city is now laid out there is no outlet whatever for vohie cles below Canal stroet, except through Broad- way. From Chambers to Canal the streets running parallel with these are too narrow to allow practical egresa into West Broadway, if that street, as it now exists, was in itself s practical outlet. Below Chambers street thera is really no means of getting into West Broad- way atall College place terminates at Bas clay street, and Church street, above Fulton, is o mere lane, What is now known as the burned district in Boston was not more inac- cessible before the fire than is the important part of the metropolis west of Broadway be- tween Fulton and (hambers streets, This part of the city completely cuts off the paral- lel line of travel with Broadway, long a recoge nized need, and causes that street to overflow with vehicles of every kind. The lower part of the city must have relief, and it can only be obtained by a wide thoroughfare parallel with Broadway from the Battery to Fifth avenus. Por.—Mr. Paul Hayne, the graceful post of the South, calls attention to the negleeted state of the grave of Edgar Allan Poe. Poe was the finest poetio genius produced by America, a5 much a genius as Byron and Burns, and singularly like Byron and Burns in his originality, power, misfortunes and death. It is certainly fitting that we should honor genius when it comes to us as it did in the case of Poe, and we regret that we hare no abbey like that of Westminster which might be consecrated by its dust. Tae Re.ations Berween Japan AND Onmwa relative to the question of jurisdiction in and the possession of the island of Formosa are becoming complicated. The Mikado 1s en- gaged in organizing a small fleet, which will be despatched with instructions to take possession of a portion of the territory and keep the marauders who plun- der “shipwrecked sailors in order. Several Americans have accepted commissions trom the imperial Japanese rulers. The Chinese appear to take the matter very quietly just at present. There is little doubt, however, but that it will produce an exceedingly serious Asiatic difficulty should the ruler of Japan persevere in his purpose. Srmz Hammenine aT THE CUBRENOY gxD Faovances.—In the House of Representatives yesterday bills were introduced by Mr. Bright, of Tennessee, against imposing addi- tional taxation and retrenchment, and for the issueof fifty millions more legal tender notes; by Mr. Poland, of Vermont, to provide a free system of national banking and for the re- sumption of specie payments; by Mr. Law- rence, of Ohio, to facilitate the resumption of specie payments and to prevent the fluctua- tions in the value of United States notes; by Mr. Crossland, of Kentucky, to repeal all laws imposing a tax on State banks; and by Mr. Fort, ot Illinois, to impose a tax-of five per cent on all incomes of individuals and corporations exceeding five thousand dollars, Tre “Rum Crvusapens”’ m Encuanp.—A “whiskey crusade’’ was inaugurated in Man- chester yesterday. Several signatures to the pledge, we are told, were obtaired. This is but another indication of the power of Ameri- can ideas over the English mind. American Pullman cars are revolutionizing the Engish railroads, American revivalists are frightening the quiet, solid, sober preachers of England by running away with their congregations, and now the anti-rum crusaders are making @ raid in true American fashion. The conquest and annexation of England will como in time. The new ideas must prevail. Ovs Bourrawo.—-The London Telegraph makes an eloquent appeal for the preservation of the buffalo. Their extermination, we are assured, ‘‘would be a national calamity to the inhabitants of North America,” not to speak of the English tourists who have been attracted to our Plaing. ‘It is certain,” says the Tele- graph, ‘‘that an act of Congress less than a dozen lines in length would put a stop to the indiscriminate slaughter. Much might be done by General Sheridan and the many other officers of the United States Army who are always ready to extend generous hospitality ta English noblemen and gentlemen when en- geged in hunting upon the Plains. They might be. urgent in their remonstrances with their chiefs, President Grant and General Sherman, with a view to arresting a butchery which is a scandal to humanity.’ We entirely agree with the Telegraph, ‘The time wiih come, we fear, when we shall mourn our lavish waste of the buffalo, just as we are be- ginning to mourn the waste of timber by our easy and unthinking forefathers. Joun Knox anv Oannyix.—The Atheneum announces the re-election of Thomas Carlyle to the Presidency of the Edinburgh Philo- sophical Institution, one of the very few public, if honorary, positions he takes pleasure in filling. The occasion cf his re-election was taken advantage of to present to the institu- tion, in Mr. Carlyle’s name, a portrait of John Knox, -beneath which he had written, “The one portrait I ever could beliove to be a like ness of John Knox, February, 1874."’ There is a plan now on foot to crect a memorial of Knox in Edinburgh, and Mr. Carlyle is taking o deep interest in the work. Knox was one of the most remarkable men of his time, exercising, perhaps, more influence apem