The New York Herald Newspaper, May 11, 1875, Page 6

6 NEW YORK HERALD BROADWAY JAMES GORDON BENNETT, PROPRIETOR. NOTICE TO SUBSCRIBERS.—On and after Januory 1, 1875, the daily and weekly AND ANN STREET. editions of the New Yors Hxratp will be | gent free of postage. THE DAILY HERALD, published every day in the year. Four cents per copy, ual subscription price $12. All business or news letters and telegraphic despatches must be addressed New Youn Berar. Rejected communications will not be re- turned. Letters and packages sheuld be properly led . . LONDON OFFICE OF THE NEW YORK HERALD—NO. 46 FLEET STREET, PARIS OFFICE—NO. 3 RUE SCRIBE. Subscriptions and advertisements will be received and forwarded on the same terms as in New York. VOLUME XLevee AMUSEMENTS TO-NIGHT. OM) THEATRE Fe Broadway.—\ARIBI METROPOLITAN ‘West Fourteenth strect.. OLYMPI RE, | yaad Broadway.—VASIE1Y M. ; closes at 10:45 FIFTH AVENUE THEATRE, Tw ight! reet and broadway.—!HE HUNCH. x tr eePh. OUCH NTAMOND. ati soP.M. THe 1G BONANZA, at 8. M.; C0 E Mr. her, Mr. Lewis, Miss 1). BROOKLYN Zeya avenue,—VAKIETY, METROPOLIT No. 58 Broadway.—F EMAL Te EATRE, BATUERS, at §P. M, oes Bootts THEATER ioe ero! enty-third sireet and & sXAbNE, avenut.— at 8 PO M.; closes at 11 P.M. Miss Ciara jorris. LYCEUM TNEATRE, Revie street, near Sixth arenue.—-LE PETIT FAUST, at8P. di. sille. Aimee. SAN FRANCISCO MINSTRELS, Brees Pe ‘Twenty-ninth street RELS ate P. M.; closes at 10”. M. BROOKLYN THEATRE, Exe ORPHANS, at 8 ¥.M. Misses Minnie Conway. WALLACK’S THEATRE, \way.—A HAPPY PAIR and |HE RIVALS & ; closes at 10:49 P.M. Mr. Montague, Miss Je! te=_NEGRO A ana tate BOWERY OPERA HOUSE, Fo" Bowery.—VARIETY, at 8 P. M.; closes at 10:45 woon's Broadway. corner of Thirtiet —WAITTING FOR THE VERDICT, at2 P. HM. at bP. M.: closes at 10:45 P.M. TT: , MAY this morning the probabilities are that the weather to-day will be warm and generally clear. Wau Srnzer Yestenpay.—Stocks were de pressed, Erie being the leader of the down- From our reporis ward movement. Money was easy. Gold receded to 1154 and foreign exchange was firm. Tee Merrororis has now been so long out at sea that hope of her safety must be nearly abandoned. But what chances there are of the safety of the missing © are clearly set forth in our special article where. Rarrm Txaysrr stoodstill in the Legislature yesterday by the desire of Mr. Husted, who experienced a wish to make further ex- amination of the Common Council bill. A letter of Mr. Hnusted’s to the Henanp, ex- planatory of his recent action, will be found in another column. Inrenwationan Corrnicut bas again heen arged by English authors, such as Miss Brad- don, Mrs. Henry Wood and others who suf- fer by American rep Mr. Disraeli, who bas himself lost a great deal of money— which he never had, but might have made— > bas promised to give the subject the serious examination of the gov ‘Tax Mavens are still troublesome, but the | parade of their benevolent associations yester- flay may probably suggest to them the im- tlement of their dis- pute with their employ It is a misfortune to the entire public thet such labor strikes as these of the coal regions should be annual events. All classes of society bear the burden of these bitter and {ruitless disputes. Mr. Westow bas again begun one of his Jong walks. If he becomes as tired of bis journey as the public is of the repeated fail- ures in sensational pedestrianism feats he will beavery weary mau. Wecan sec little proba- bility in the score thus made of Mr. Weston's success in his daring attempt. If he suc- eveds it will be all the more to the credit of his energy and endurance. Tne Crstewstat.—Philadelphia awaits with interest the visit of New York merchants to examine the condition of the buildings tor the Centennial Exhibition in Fairmount Park. New York, we trust, will be not fess concerned in the report which her repre- sentatives will make. The Contennial cele- bration has ceased to be a local, and is a na- ‘tional event, and the metropolis of the coun. try has the deepest anxiety for its success. Tur Gorn Recon. Months ago, were a region a to the American people as are th Hills a few as urknown sources of the Nile, but now the re Dorado to the adventurers « the West. Onr despatches indicate that the Indians, who, by treaty, have ubsoluie possession of the Black Hills are willing to sell their rights, and no doubt will t price much Jess than the real value. Jt is thus that civil- ization has advanced in America; with a foot of justice and 4 crutch of wrong, @ halting gait, yet one which steadily @pproaches to the end. No power can close the gates of the Biack Hills against American determination, and we have only to hope that the government will, so far as it has the power, respect the proprietary rights of its barbarian wards. An- | yr SP. M.: closes at 10:45 | NEW YORK HERALD, TUESDAY, MAY Ui, 1875,—-TRIPLE SHEET. The Meetiug of the Emperors. The Emperor of Russia has arrived at Berlin on a visit to his uncle, tre Emperor of in modern times since that on the raft at | Tilsit is fraught with so many consequences to the welfare of Europe. Our modern civil- ization as seen in its European development | has run into a phase so strange that the hap- | piness of nations, the prosperity of States and provinces, the lives and fortures of thousands | depend upon the temper in which two men | | happen to meet in the capita! city on the | Spree. Russia and Germany are among the | strongest Powers in the world. They are great, | free, enlightened natious. All their strength, | all their wealth, all their civilization are in the hands of the Russian Alexander and the German William. We shall have all | manner of narratives and explanations of the imperial visit and assurances of peace and hopes for the welfare of Europe. But virtually, in the most complete sense, peace or war will rest with the two emperors. There are many subjects that will render their meeting interesting, The emperors are closely related, and are said to hold each other in bonds of strong personal affection. | a rare service during the last war. He held his sword at the heart of Austria and prevented | her giving Fran@ the least assistance. He publicly testified his joy in the triumphs of Germany, and the feeling exists in diplomatic circles that so long as he lives German coun- | cils will be in the ascendant in the Cabinet of | St. Petersburg. | The situation before the emperors may well demand anxious consideration. There are many clouds in the Continental sky. The nations of Europe are arming. Countries like Spain and Turkey, which cannot pay their honest debts or the interest on their loans, are borrowing money at the highest rates to raise regiments. Germany has strained the last resource of her Empire to perfect her army. All the money she can de- rive from taxation, all the money she wrenched from France, has gone into powder | and cannon. Austria is following her example. France, pauseless, untiring, persistent, re- | solved—rich and thrifty—has made every | cousideration second to the rearming of the country; and she has surprised Europe in this os in all other respects. The nation which three years ago was about to pass into the condition of a second class Power like Belgium or Spain has now the second best army in Europe. Instead of | destroying France Germany has simply over- thrown the Empire and given France new life. It required some mighty external influence resting upon France, oppressing her, teaching the hard duties of patience, sacrifice and sclf- | denial, to develop the Republic. France saw with unerring instinct that nothing would be | more ungracious to the conqueror of Sedan and his class than a republic. It knew that if arepublic had been deemed as in any way | The Russian Emperor did his venerable uncle | Navarre could go to’ Don Carios or Spain. | ave they not one and all the German Father- | 1and? And what fine German ports Copen- make. cite the ambition of a conqueror in his old days. This captain and king has been per- mitted to achieve so many wonders since his return from a London exile that he may well feel that he can bring even ao stranger dream to pass, These, however, are mere speculations. We sincerely trust that these great kings will find it in their hearts to continue the peace. It is hard to conceive two monarchs sitting down to the bloody business of war, like the mer- chant over his books or the player over his game. ‘There ore humane and enlightened princes who are keenly alive to the spirit of the age. How can they welcome war if peace can in any way be made to answer their honor or their ambition? But the peril in all these conferences is the peril in the whole system. So long as peace or war depends upon the will of one man, who, with all of his maj- esty, isa mere man; so long as great ni- tions will be governed by legends and not by common sense; so long as people as mighty and brave as the Germans and the Russians are content to be the chessmen on the table, to move and countermove as the player wishes, there can be no assurance of peace in Europe. We shall have peace surely when the nations love her for her own sake, and not because it suits the policy of aking. Let us hope that the wisest councils will enter into the conference on the Spree—that the em- perors will not outrage humanity by a new war. As Europe now is, the heavens redden- ing and flashing with electric fire, a war, no matter how narrow at first, must unavoidably draw the greatest Powers into its devastating and unholy embrace. | | | | | | The Musical Celebration in Cincin- ati, - The complaint which foreigners generally make against America is that we do not en- courage art. They concede our superiority in | mechanical invention, discovery and politics, and are beginning to admit our equality in science. There 18 not one of the leading sciences which has not received from Ameri- can intellect a new impulse in the last twenty years. In ethnology we have had a Morton, and in ichthyology and the leading branches of geological research an Agassiz. Yet it is said that the Americans do not originate art, and the argu- ment has too much justice, for we have not an original school either in the drama or paint- ing or music. One cause of this inferiority is the importation of European artists, who find in our appreciation a field larger and more profitable than that which they enjoy at home. America is the gold field of the ambitious European artists; they make fortunes here a possible ending of the Bonaparte overthrow the Emperor would bave returned Napoleon to the Tuileries. Silently, therefore, it has founded a conservative republic—armed, angry—not obedient to divine right, and only too ragdy to welcome the hour of revenge. France republican, and almost certain to become more and more so, is a problem worthy of the deepest consideration of two emperors. Republicanism in France, as its history shows, has possibilities that imperial minds are not apt to overlook. Whats to be done with it? If the French would only give | the pretext how easy to send Moltke and his | legions streaming out of Metz into the Cham- | pagne region. But what is to be done with a | country which, when you smite it on one cheek simply turns the other to the smiter and keeps on sharpening the sabre? France has stood every form of insult from Germany, and will not resent it, Every day she be- comes stronger. Every day sends new men into ber armies and new millions into her treasury. So that Germany must stand in anxious silence looking on, seeing this prodig- ious Power grow from hour to hour, and knowing that every look, every thought, every | pulsation and aspiration is for revenge—that some day she must fight this Power, and } under conditions far different from those which cujminated at Sedan. An Emperor burdened with this reflection will have a great deal to sey to his Russian nephew. He will | be anxious, above all things, to know how far his nephew will venture ina new campaign— how Russian interests would regard the destruction of France. He knows that the Russian mind has always had more or less sympathy with France in the past ; that Rus- | sian statesmanship has deemed it wise to keep France strong, as a menace to Germany, Austria and England. He must reason that to weaken this feeling he must give his Rus- | sian nephew some strong inducements, for this same highly-placed relative is selfish, and must have satisfying reasons to serve even a doating uncle. He gave him the Black Sea in return for his armed and menacing neu- trality during the war. What can he give him now? We take it that if the German Emperor can find any method, no matier how severe and despotic, for limiting the power of France, he will welcome it. over-t ience than at that of France. Russian nephew has any disposition for the venture there are indncements enough. There is the Eastern question, the Bosphorus and Constantinople. Prussia would as soon see the Russian flag over St. Sophia as any other. The most patriotic aud poetic German never claimed that Turkey was a part of the Fatherland. The Eastern question can never have more than a sentimental | diplomatist. | Principalities which are | interest to the German There are the now a problem between Russia and Austria. There are opportunities in the East, toward India, and if Russia would like to “rectify He is not an | scupnlous monarch, and if war must | be then he may as well take his own time. | He can fight mach betier at his own conven- | And if the | her boundaries” in the direction of Sweden | Germany could have no serious objection. If Russia would only go zealously into the work of reducing France into a condition of help- lessness there is nething within the power of Germany that she would not grant. Germany is piously undertaking another war— the fourth within ten years, toshow her ‘“pas- sionate yearning for peace” —there are other matters she might as well arrange. Of course | And while | | more easily than they can at home, end retura to their native lands to spend the money they have drawn from the unfortunate Yankees. We thus see that, even if we do not create art we appreciate artists. But such a festival as that which begins in Cincinnati this week will go far toward cor- | recting the imputation under which the | American nation has rested. It is purely an enterprise of art. ‘There is an orchestra com- posed of the best resident musicians and re- intoreed by the finest talent of New York and Boston. The vocalists are admitted to be among the best inthe country. The rehearsals have been thorough, and over all rules the unsurpassed genius of Theodore Thomas, He controls and inspires the great musical | festival which begins to-day, and we have no doubt that it will vindicate the reputation of American art. The programme of this musical reunion has been pubtished in our | columns, and we need only express our | regret that Cincinnati, and not New York, is to enjoy the credit. Yet all American lovers of art and music are interested in its success, Good Faith of the Louisiana Conservatives. Mr. William A. Wheeler, the republican chairman of the Louisiana Committee, bas just done a manly act of justice to the con- servative members of the Louisiana Logis- lature in a public letter vindicating them The by the republican press. Mr. Wheeler, who in arranging the compromise, proves by con- | sertion, that the reseating of the four con- | servative members on which the charge of bad faith was founded cannot be complained of with any color of justice. agreement of submission the award bound | nobody but such members of the Legis- lature as signed it, and those four members were not among the signers. Second, the only cases submitted to the decision of the committee were those on which the Returning Board either did not act | or on which the legality of their decision was | disputed by the democrats ; but the four mem- bers in question belonged to neither class. Third, the exclusion ot those tour members | from their seats was made by the republicans | ata time whendhere was no quorum and the House could perform no valid act. The facts in relation to those tour members are can- didly stated by Mr. Wheeler. They were un- | doubtedly elected by the people of their re- | spective parishes by legal majorities, and the | proof of this was so conclusive that even the dishonest Returning Board was constrained to give them certificates. They were among the members whose names were on the Clerk's roll for the organization of the House in | January. After the withdrawal of the con- servative members with Wiltz, at the time of the military interference, the republican rump, acting without @ quorum, decided that those four | were not elected and gave their seats to their republican competitors, in eqral defiance of law, of fact and of the certificates of the republican Returviag Board. Mr, Wheeler has no doubt of their title to seats, and he states that he was told at New Orleans by a representative of the conservatives, on the very day before the meeting of the extra ses- sion, that they intended to reseat those tour | members, and that he did not question the pro- priety of that determination nor its consis- | France could be put under a twenty milliard | teney with the terins of the compromise. The indemnity, Nice could go back to Italy. | manly letter of Mr, Wheeler should put this | independence these events, so insignificant in | to which the people may look, and there oan Lorraine could be still more largely annexed. Luxemburg and Holland and Belgium | faith of the people of Louisiana will mal Germany. Perhaps no meeting of sovereigns | and Denmark could be “rectified; for | proper amends, now that the truth is stated | hagen and Amsterdam and Antwerp would | Here is a programme that would ex- | from the aspersions cast on their good faith | was the most active member of the committee | vincing arguments and citations of docu- | ments, as well as by his own emphatic as | First, by the | question at rest, and we trust that the journals which have cast unjust aspersions on the good ke on such unqnestionable republican authority. The Wreck of the Schiller. The facts are but too well known. The drowning of more than three hundred people, | many of whom were well known in New York | and Philadelphia and other cities, cannot fail | to make a dee; pression upon the public, | Every namo that we have printed of the lost | by this wreck represents a personal grief, the agony of the bereaved or a widespread regret. of valuable members of society who were ificed to a terrible crime, or a blunder, | which was eqna'ly censurable. Three huu- dred persons cannot perish im one dreadfal hour without causing desolation among more than hundreds of families in both worlds. There is mourning in two continents 8 because of the loss of the Schiller, and even those who, happily, had no friends, no relatives on board the fated vessel sympathiza with those who have been so suddenly bereaved. Civilization has a profound interest in such calamities, and the heart must be cold indeed that does not beat the faster when reading of this awful | tragedy. in respect to this wreck. The first of the story was almost equivalent to the erd. It was a wreck, and the sweeping of the sea over the ship, the falling of the masts, the swamping of the boats, the panic of the cowardly crew, the agony and the terror of an hour, and that was all. Itis the old story of tho sea, and will be repeated in the future, as it has been from immemorial years recorded in the past. Yet while we concede to the ocean all its power, which laughs at man’s dominion of the waves and wrecks the Armada and the Nautilus with equal ease, we must in this case affirm that there was a terrible mistake. There is no apparent rea- cae the wreck. The ship was not at the mercy of storms; she was not disabled, nor was she more than one or two miles out of ber appointel course, She was steered direct for Plymouth, and was lost upon islands as well known upon the maps as the harbor of New York. Captain Thomas, who perished, possibly a victim of his own mistake, was an experienced sailor. We should like to sos the orders he had received from the company. It is more than possible that he was directed to make a quick pas- sage, irrespective of the Retarriere Ledge. Cer- tainly it is established that the grave mis- take was made of urging the ship upon a path of uncertainty in the midst of a heavy | fog. Itis again shown, and this time with | terrific emphasis, that the to reach port under such circumstances forgotten. The Schiller should not have been lost. It was a mistake, a sin, a violation | of all proper care. She might have lost a day of the Atlantic passage had | her prow been turned irom the Sciliy | Islands in the fog; but that loss would have saved more than thre hundred lives. | We repeat our conviction that the wreck of | the Schiller was not one for which the fog | and the stormy ocean are to be held respon- sible, as an unavoidable accident, but that it | is a disaster due to the recklessness, the cu- | pidity and the over-confidence of man. The | fog that hid the light upon Bishop's Rock | cannot conceal from the public the awful mis- | take that somebody must have made, Ticonderoga. Yesterday the historic ground on which | Stand the rains of Fort Ticonderogs was | the scene of festivities and rejoicings Which | must bring pride and gladness to every | American heart. | mers and martial music, and an immense | multitude gathered from far and near, all in | honor of the achievements of a handful of | soldiers a hundred years before. Booming | cannon heralded the centennial of that blood- less victory, and silver-tongued orators cele- brated the deeds of the man who had de- manded the surrender of the fort in “the name of the Great Jehovah and the Conti- nental Congress.” It was an occasion where honors were well bestowed, because they were well merited. Ethan Allen was both a patriot and a hero, and his sufferings wero | those of a proud spirit chafing under im- prisonment wheu he wished to be actively | employed in behalf of his country. He was a young man when he captured Fort Ticonderoga, aud he was still young when he died in 1789. His fame, | however, rests on the achievement of that | morning in May which had its hundredth anniversary yesterday and was celebrated with so much enthusiasm and propriety by | the thousands who gathered around the | crumbling ruins to do reverence to his memory and his deeds. No event could 1 nation than this simple celebration. Ticon- deroga is among the most historic spots on the Continent. As the Rev. Mr. Cook so hap- | pily said in his address, one hundred and six- teen years ago it was French and became British; one hundred yoars ago it was British and became Americav. With the | latter event rather than the former the con- | test for European supremacy in America | closed. When Great Britain was compelled to acknowledge the independence of the | colonies France no longer could hope to make a claim to the heart of the Continent, and soon she willingly ceded Louisiana even to the new Power which had arisen in the West, If it had not been for Lexington and Ticon- | deroga, the surrender of Burgoyne and the | capitulation of Cornwallis, the struggle might | have been renewed far into the present cen- tury, and it is certain that the New World, as | well as the Old, would have been the theatre the ureat Napoleon's ombition, The seenes which we are now celebrating at Con- cord and Ticonderoga, at Mecklenburg and Charlestown, and which all the world will unite with us in commemorating a year from now at Philadelphia, gave a new direction to history as well as a new impetus to liberty. {t is not to be wondered, then, that we sbould hold Ethan Alien in grateful remembrance, and that the eighty-three men with whom he captured a fortress which had successfully re- | sisted sixteen thonsand veterans should be the | centennial heroes ot the hour. As we arenow living over again the history of the war for of Even as we write we recall the names | Little news has been obtained | attempt | is a wanton risk and a crime not readily to be | There were waving ban- | serve more vividly to recall our position as a | | drawing nearly a thousand separate warrants, | should test the matter by an application from ean hope from their celebration something akin to the grand results which followed their achievemtnt, Comptroller Green’s MUlegal Use of Unexpended Balances of Appropria~ tions, Governor Tilden is reported to have in- sisted upon a discontinuance of the practice hitherto prevailing of reappropriating unex- pended balances of old appropriations in the annual State Appropriation bill in a loose and general manner, without specifying their exact amount and the use to which they are to be applied. The Governor's familiarity with accounts enables him at once to see that such an irregular mode of dealing with the public moneys must open the door to fraud, and is, moreover, in conflict with the law. An honest financial management courts restrictions and safeguards and adheres strictly to all the requirements of law designed to protect the treasury; hence State Comptroller Hop- kins is, no doubt, in accord with tho Gover- nor in his desire to put a stop to this loose legislation. The practice condemned by the Governor in relation to State appropriations has been followed in an aggravated form in our city Finance Depagtment, and is one of the grave evils of which we have complained in Comp- troller Green’s management. Mr. Green has persistently refused to furnish the Board of Estimate and Apportionment—to which is assigned the duty of making the annual appropriations for the support of the city government and deciding. the amount to be raised by taxation —with an account of un- expended balances of former appropriations, and has used such balances at his own pleasure without any authority of law. No person out- side Mr. Green's office knows how many of these unexpended balanées there are for the years 1871, 1872, 1873 and 1874, or what is their aggregate amount. Mr, Green has stated mm general terms that many of them exist ‘only on paper.’’ In other words, there is a deficiency in the City Treasury which he conceals and covers up from the sight of the pecple; for if the taxes had been collected, and if the unexpended balances had. not been used loosely and without legal re- appropriation, no such thing as a balance “on paper only” would be possible. The mischief of Mr. Green’s disregard of law in respect to these balances can be understood by one example. In the first two | years of Mr, Green’s term of office he asked ‘for a much larger amount of money for interest on the city and county debt than he actually required. This led to the belief | that the public debt was then larger than it | really was, At the end of the year Mr. | Green had a heavy unexpended balance | of the interest appropriation in his hands. This fact he concealed from the Board of Ap- portionment and from the people, under- | stating the total amount that would be re- | quired for interest, and thus misleading the taxpayers as to the actual increase of the debt. | He then, on his own responsibility and in violation of law, secretiy used the unex- pended balance to make up the a nount of in- terest he required. What other unexpended balances have been in like manner illegally used by the Comptroller is not yet known. | But it is a suspicious circumstance that Mr. _ Green's Albany lobby corps should have intro- | | duced a bill in the Legislature, pretending to | | be for the decrease ot the year’s taxation, but | in reality intended to wipe out all unexpended — | balances since 1871, and to prevent any in- | | quiry into the use that has been made of | | them. It is fortunate that Governor Tilden | has called attention to this “unexpended bal- | ance’? abuse in our State finances, as it | serves to show the mischievous and lawless | character of Comptroller Green's policy, and | to expose the real object of the bill he bas had | the effrontery to impose upon the Legislature under a fictitious title. Dear or a Cenrexantay.—We print this morning an interesting letter giving an ac- count of the celebration oi the one hundredth | birthday of Nathaniel Eaton. The narrative receives un additional and painful interest from the fact that this centenarian has now passed away by an attack of . pneumonia, induced by the excitement and exertion | cansed by thé birthday celebration. There is something exceedingly instractive in the | history of these old men, now so few in num- ber, who came into being simultaneously, we may say, with the birth of the Republic, and we cannot but regret (hat in the case of Mr. Eaton he should fall 4 victim to the rejoic- ings of his friends because he had lived so | long. Mr. Greex Contixves to withhold the salaries of the firemen for the month of | April. This delay is entirely uonecessary, and is an act of official misconduct dangerous to the city, and for which he should be held | accountable. For three months the firemen | have been paid on company rolls, as provided by the charter. Out of malice and spite to- ward the Mayor Mr. Green now insists on | for each individual fireman's pay—a process that is intended to embarrass the Mayor, and which, if permitted by the Mayor, would keep the firemen two weeks out of their pay after it became due. Some action should be | taken to compel the Comptroller to perform | his duty and pay the men. The money is in his hands and he has no right to detain it from those to whom itis due, The firemen each company to the conrts. Tar Svrrry Bu.—The last hours of the session of the Legislature are generally oceu- pied with a struggle over the Supply bill. | The constitutional amendments have happily | cut off many of the jobs that used annually to | find success through this bill. Nevertheless | it still affords ample opportunity for plunder- | ing the State treasury. This year the Assem- bly is assuming the rile of economy and cut- | ting down the Supply bill items, while the | Senate is more liberally disposed. There is, | of course, a political object to subserve in the opposition of the democratic Assembly to the prodigality of the republican Senate. But | after all the threatened fight over the bill in | the conference committee is of very little conseqnence. The Governor now has the power to strike out from the bill all items that do not appear to him to be just and to approve the remainder. This admirable reform ——_——” themselves, receive e cae aamatom: and we | be no doubt that Governor Tilden will exercise —<—<—$—<————————— the power conferred upon him. A Sorry Sight. Upon looking down the advertising columns, especially those devoted to financial interests, we now and then observe announcements of a painfal interest. Thus:—“We buy and sel! defaulted bonds ;’’ ‘We make a specialty oi railway bonds in default ;'’ ‘We desire te purchase bonds not regularly quoted.” Here - we have ono list in which twenty separate railways are registered as having “failed to pay their interest,"’ and the bonds of which are bought and sold on our markets as a busi- ness. There can be no more painful evidence of the condition into which Wall street has fallen than that the purchase of dishonored coupons should become a recognized industry, We have heard a greut deal recently about a revival of business on Wall street, about the avidity with which investors seek Pacific Rail- way bonds and stocks and securities of this character. How can we ever have a sound financial system so long as a great part of the railways of the Western countries are in @ state of repudiation and default? In this list from which we quote five out of six represent railroads in the West. Now, before there can be an honest business prosperity something must be done with these defaulted interests. We built these roads and borrowed the money to pay for them largely from foreign cap. italists, We pledged our faith as corpora tions and citizens to pay these foreign lenders a certaia interest for the use of their money. The panic came, and as all these negotia- tions were based upon a false idea of business, ag wo had induced our foreign friends to lend money upon nothing but promises and expec tations and hopes, the foundations gave way, the whole financial fabric came down, and the railway system practically was bank« rupt. Thus, having fallen into bankruptcy, we owe it to ourselves to make some amends to those who suffer. Something should be done to redeem the interest on these railway bonds. We should at once adopt some policy to either pay the holders of the bonds the whole or a portion of their investment, It is not for the good of the country that we should quietly allow vast interests to fall into liquidation and bankruptcy, and to go on heedlessly borrowing money in other directions, endeavoring to found new enter- prises and caring little for the promises of the past, and callit prosperity. The American people will lose in the long run by the actual withdrawal of capital, the absence of confi dence, high rates of interest, depression in trade and falling off in immigration, five dol- lars for every one that is repudiated. This business of repudiation, whether practised by a Commonwealth or a corpora tion, is the most expensive venture in which men can engage. No State and no corporation ever repudiated a dollar without, in some form or other, having to pay five times its value This long list of defaulted railway bonds is certainly a sorry sight, and we wish that some of our statesmen could devise the means by which the American people could honorably wipe it out. PERSONAL INTELLIGENCE. Professor F. L. Ritter, of Vassar College, is stay. ing at the Everett House. Chaplain R. Croker, of the British navy, is so journing at the Brevoort House. Congressman James G. Biatne, of Maine, is re siding temporarily at the Fifth Avenue Hotel. Right Rey. William H. Hare, Episcopal Bishop of Niobrara, has takea up his idence at the New York Hotes. Mr. Edward P. Smith, Commissioner of Indian Affairs, is among the late arrivals atthe Metro: politan Hotel, Lieutenant R. Dennis, of the Twentieth regi- ment, british Army, is registered at the Grand Central Hotel. Congressman John 0. Whitehouse, of Pough- kKeepsi¢, has returned to bis old quarters at the Albemarie Hotel, itis thought that the three Emperors who are to meet at Ems will consider what shall be done with regard to Spain. Last observation of a cook dismissed in dis grace—‘Madame, the key of the kitchen doot opens tne wine cellar.” ‘There ts a fox in Paris which has been taught te play on the piano. it plays “Ay Chiquita” and «s’al du bon tabac dans ma tabatiere.”” Thirty glasses of absinthe tn an afternoon was the quantity that quenched the thirst of a Parisian rounder. His coffin was made of the commonest pine. ¢ In Paris it has suddenly occurred to the police ‘that all these spiritual people are impostors, and that there are laws against impostures aimed at “people's pocketa, At the recent sale in Paris of Fortuny’s pic. tures, two were bought by Mr. Stewart, of thir city. “The Beach at Portici” for $10,000; ana the “Bassecour of the Alhambra” for $5,000. M. Damas, the great chemist, has informed President MacMahon that an effective remedy has been discovered against the phylloxera, the insect that threatened to destroy ali the French vines. “And beauty draws us by a single hair.” Near Bale, in Switzerland, a man knocked down a young girl Whom he met on the road and cut of all her hair, which was of great length and splendid color. Dr. Condie, the ancient Philadelphia physician, who wrote “The Diseases of Children” about hal) acentury ago, said:—“If & doctor drive one horse it indicates physical weakness; if ne drive two, mental weakness.” Tissandier, the one survivor of the recent bak loon ascent in France, says all his companions were killed by the atmospderic depression. He has read a report of the voyage betore tne Acad. emy of Science. Mr. Bergh and his society are frightiully both ered with this problem:—"If jan rescues a fy does he invade the rights of the spider?” Bergh conscientiously respects the rights of the spiders, but he intends to rescue the Mies, and this trouble some cilemma has ruined his peace. “What is stupid,” he said when they reproached nim with having taken so much that he couidn’t put one foot before vhe other, ‘what is stupid is not having taken so much, but trying to walk afterwards ;” irom which it was thought Bis head ‘was in petter condition than his feet.” Mr. Algernon Sertorie, the President’s son-in- been making a brief visit to his home { private business, arrived here in the ip Celtic, and left for Washington last evening. Heexpects toreturn to England with Mrs. Sartoris in September next. ‘The criminal authorities in Belgium have made aftreaty with a distinguisned prisoner to remit three years of his penalty in Virtue of his atsclo. sure of various methods of getting out of prison, His disclosures induced them to change ali the locks on their prisoners; but Why he didn't pick his way out at once and refuse to trade his se crets for three years is perhaps a State secret, He was a rich American tn Paris who discovered that an unpleasant looking fellow jollowed him every day from morning till night. He became uneasy and diplomatic inquiry was made whether the man who watched was connected with the police, AS @ result of much negotiation the un pleasant person was arrested, and proved tobe gatherer of buts of cigars, The rich American in the State constitution is the real protection only smoked famous brands and only smoked tuom Ralf Up, and it paid to follow him.