The New York Herald Newspaper, October 2, 1875, Page 6

6 NEW YORK HERALD fa hak . BROADWAY AND ANN STREET. JAMES GORDON BENNETT, PROPRIETOR. NOTICE TO SUBSCRIBERS.—On and after January 1, 1875, the daily and weekly editions of the New Yorx Huraxp will be sent free of postage. —— eTHE DAILY HERALD, pnidlished every | day in the year, Four cents per copy. Twelve dollars per year, or one dollar per month, free of postage, to subscribers, All business br news letters and telegraphic despatches must be addressed New York Henan. Letters and packages should be properly sealed, Rejected communications will not be re- turned. LONDON OFFICE OF THE NEW YORK HERALD-*NO. 46 FLEET STREET. PARIS OFFICE—AVENUE DE L’OPERA. Subscriptions and advertisements will be received and forwarded on the same terms as in New York. VOLUME XL.. AMUSEMENTS THIS AFTERNOON AND EVENING. WooD’s MU Broadway, corner of Thirtieth doses at 10:45 P.M, Matinee at METROPOLIT. Nos. 585 and 587 Broudway. ‘nee at 2 P.M. TRE, , at'8 P.M. Mat. ue.—French Opera Matinee at 1:30 PARISIAN VARIETE Sixteenth street and Broudway.—VAKIETY, at 8 P, M. Matfiee at 2 P.M. SAN FRANCISCO MINSTRELS, Opera House, Broadway, corner of Twenty-ninth street, P.M. Matinee at 2 P. AMERICAN IN Third avenue and Sixty-third str ITUTE, Day bnd evening. BOOTH'S THE. y-third street and & MM. Mr, Ge! n—THE FLYING Matinee at 1:30 Cwer BOL ° ML. OLYMPIC THEATRE, . No. 624 Broadway.—VARIETY, at 8 1’. M.; closes at 10:45 ?.M. Matinee a 2 P. M. EATRE, THE MIGHTY DOL- ce. Matinee at 1:30 Broadway and Twonty-se: oe ator. M. Mr. au R GARDEN, AND POPULAR CON- M. Matines a2 P. M. qGILMoRE’s sum ate Barnum's “Hippodrom VERT, at 8 P. M.; closes at 11 P METROPOLITAD gag West Pourteenth sti SEUM OF ART, Open from 10'A. M. toS TIVOLI THEATRE, Gighth street, near Third avenue.—VARIETY, at 8 P. M. FIFTH AVENUE THEATRE, fwenty-eichth street, near Broadway.—OUR ¥. M.; closes at 10:30'P. M., Matinee at 1:30 P. BOYS, at 8 M. COLONEL SI) PARK THEATRE, Srooklyn.—VARIETY, at 8 P. M.; closes at 10:45 P. M. Matinee at 2 P. M. BOWERY THEATRE, Bowery.—BELPHEGOL, a: 8 P.M. ET. Stetson, nee at 22. M. HOWR & CU. ING’S CTRCUS, Sighth avenue and Forty-ninth street.—Verformances day tnd evening. Mat- GERMANIA THEATRE, Fourteenth street. near Irving place.—MONSIEUR AL- SHONSE, at 5 P.M. ACADEMY OF MU frving place and Fourteenth | str WORLD IN EIGHTY DAYS, at 8 P. Matinee at 1:90 P. M. DARLING'S OPERA HOUSE, Ewenty-third street and Sixth avenue COTTON & REED'S NEW YORK MINSTRELS, at 8 P. M.; closes at 10 P.M. Matinee at 2 P.M. c, ROUND THE ses at 11 P.M, THEATRE COMIQUE, No. 514 Broadway.—VARIETY, a8 P. M.; closes at 10:45 ?.M. Matinee at 2 P. M. “) cesses. | that they should enter into associations for The Conflict of Capital and Labors The Fall River troubles being in a fair way toward settlement it may not be amiss to say a few words on the great underlying question of the modern relations between labor and capital. We think most persons who have examined this interesting subject will agree with us that the. machinery by which strikes are managed—by which, we mean trade unions—is a natural outgrowth of the state of modern industry. Of course there is nothing novel or peculiarly modern in associations of laborers for mutual protec- tion. The guilds of the Middle Ages and the tion of the associative principle, the Masonic formed among the builders of the old cathe- drals and other great structures in stone. Such associations grow out of circumstances, and it lies in human nature that they will recur. They spring up whenever large | bodies of workmen are assembled for | some length of time in the prosecution of | the same industrial undertaking. The build- ing of the immense cathedrals, which are still objects of curiosity to European tour- + ists, collected large numbers of masons, first in one7place and then in another, and, for the sake of mutual protection, they entered into what in modern parlance are called trades unions, but were then designated as “lodges.” The present trades unions have grown up as a consequence of the concentration of manufactures in large establishments by the application of science to industrial pro- The wonderful new inventions of machinery for the production of goods, ex- emplified in that model and marvel of the application of mechanical invention to industry—a great cotton mill—and in othr similar establishments, have concentrated manufactures in large towns and revolu- tionized modern industry. In the middle of the last century a weaver, for example, could set up his trade with as much facility and less outlay than a village blacksmith. But the introduction of modern machinery has put almost every branch of | manufactures beyond the reach of small owners. It has so cheapened production that individual workmen or small knots of workmen can no longer compete for the market, and has necessitated such heavy out- lays for buildings and machinery as to make eo separation between capital and ‘abor in all the great branches of production except agriculture, in which, from the nature of the case, laborers are scattered over large areas. The divorce of labor from capital conse- quent on the use of expensive machinery and the concentration of manufactures in towns have made artisans more dependent as a class, and it is in the natural course of things their own protection. As isolated individu- als they are powerless, and lie at the mercy of their employers; but acting together as one body they can exact conditions, because the employers, after having fixed investments of capital which cannot be transferred to other undertakings, are almost as dependent on their workpeople as the workpeople are on them. It is absurd to expect the laboring classes to relinquish this great advantage, and therefore perfectly Quixotic to think that the trade unions can ever be dissolved or broken up in the pres- ent state of modern industry. Not only is there strength in union, but union is the only means by which the artisan classes can enforce their rights and shield themselves TRIPLE SHEET. NEW YORK, SATURDAY. OCTOBE: 2, 1875, From our reports this morning the probabilities are that the weather to-day will be cooler and cloudy, with areas of rain. Tue Fast Mam Tratys.—Newsdealers and the public throughout the States of New York, New Jersey andl Pennsylvania, as well as in the West, North and Southwest, along the lines of the Hudson River, New York Central and Penn- sylvania Central Railroads and their connections, will be supplied with Tux Henan, free of post- age, by sending their orders t to this office. Wau. Srreer Yesrexpay.— old closed at 116 7-8, after sales at 11701163-4. At the former price $100 in currency is worth only $85 57. The public debt statement shows a decrease for the month. Money unchanged. Stocks generally steady. Foreign exchange dull. Railway and government bonds firm. Ir Is Proposep to enforce the liquor law with severity. Ip ree Weatuer Favors we shall probably have a glorious meeting at Jerome Park. A Wasnrxeton Dxspatcu informs us that the public debt statement will show a re- duction of $3,342,562 61 in the public debt during the last month. This is a good show- ing, bit it looks very much as if it were in- tended fer effect on the Ohio election. Tre Porsce Boarp proposes to look after the schoolboys who play truant. All chil- dren under fourteen found in the strects during school hours will be liable to arrest. This is a just law and we hope for its rigid enforcement. The way to elevate the race is to enlighten it. Tue Crtepnatep. Gevenat Custer is in | town, and tells one of our reporters an inter- esting story about Indian affairs, He com- mends the letters of our correspondent from the Sioux country, saying that he ‘must have taken his life in his hands,” and that his work was of service to humanity and justice. A Curvese Comission now in New York ‘studying our educational systems?” This gentleman is contrasting the modes of against oppression. But this great instrument of protection and defence may be an engine of mischief as well as of benefit, according as it is ill or well employed. Unless directed with intel- ligence it is as dangerous as a locomotive in charge of a raw hand, who is as likely to pre- cipitate the train down an embankment as to bring it to its destination. Such a result is no reason for declaiming against the utility of steam engines, but a very good reason for taking security against putting them in charge of incompetent engineers. Abortive strikes are huge, wasteful blunders ; but no Masonic lodges in their origin are among the | examples that might be cited of the opera- | Order having been at first a mere trade union , always reappear when similar’ circumstances { | sult. On the other hand, when the profits NEW YORK ,HERALD, SATURDAY, OCTOBER 2, 1875.—rRIPLE SHEET. . SS he tr wish to erect a building they employ an | Equal Justice to the High and the architect, and it is always as wise to employ | special talent in this way as it is to call a skilful physician in asevere sickness, What the trade unions need is not a lawyer, but the counsel of an honest, considerate, well-informed business man, competent to form a sound judgment of the state of the | market in every emergency which may lead | up to a strike, The greatest improvement the trade unions could make in their organ- ization would be to set apart a portion of the contributions received from their mem- bers for the employment of an upright, judi- cious and skilful person who should devote his time to watching their interests and giv- ing them the special information which only a trained man of business can acquire. | Wages cannot, for any length of time, be | kept above or below their natural level. But when such a condition of the markets exists as must ultimately lead to a higher rate of wages a strike for'a rise would hasten the re- of producers fall to so low a point that they | must either suspend operations or reduce’ at Fall River. "We have nothing to say against labor unions, nor against strikes, which are their most formidable weapon. But a strike isa gun which does infinitely more execution at the breech than at the muzzle, unless it is intelligent. We therefore sug- gest to the trade unions, as a great improve- ment in their methods, that they devote a portion of their funds to the employment of wise counsel to study their interests and furnish them with a kind of information which they cannot acquire for themselves. The remedy which has been so often sug- gested, of a Court of Arbitration to adjust differences, would be of little use unfess the laborers had some skilful and thoronghly informed person to state their case and represent their interests. Considering how much the Fall River operatives have lost by a miscalculation founded on ignorance we would fain hope that the suggestion we now make may be kindly received, The Third Avenue Savings Bank ure. There is nothing in the suspension of the Third Avenue Savings Bank that is caleu- lated to impair the public confidence in the other savings banks of the city. Neverthe- less, it discloses a recklessness on the part of the owners of the bank and a looseness in the administration of the laws which may well alarm depositors in such institutions. For three years the desperate condition of the bank has been known to its directors and officers. After the heavy run in 1872 it was left ina “crippled condition,” and, as the main portion of the deposits had then been drawn out, if it had closed its doors, as it should have done, it would have caused but incon- siderable suffering. Having saved itself from dissolution by heavy sacrifices it continued its business, and every dollar it subsequently received was taken out of the pockets of the depositors with the knowledge on the part of the bank officers that there was no adequate security for it and that the calamity which has now occurred was only a question of time. The public were deceived up to the last moment, and the ignorance of the officers is displayed in the fact that the Secretary, who is now the receiver, con- tinued to accept the money of the depositors after it had been decided to close the doors, in the belief that he could return it to them as preferred creditors instead of being com- pelled to place it among the general assets. The most singular feature of the affair, however, isto be found in the statement made by the Superintendent, Mr. D. C. Ellis, of the State Banking Department, toa reporter of the Herarp, and published yes- terday. Mr. Ellis states that he made ‘‘fre- quent examinations” of the affairs of the bank and found it to be ‘ina crippled con- dition” and “greatly deficient.” But as the eight thousand depositors were ‘mostly thrifty mechanics and shopkeepers” it seemed to him best to give “indulgence” to . strike ever need be abortive if managed with trained intelligence. The success of a strike does not depend on mere persistence and resolution, but on the condition of the mar- ket at the time it iv attempted—not the labor market merely, but the market for the kind of goods which the strikers are gaged in producing. There are laws of trade and production which a com- bination of laborers cannot successfully st any more than they can make a stream flow upward to its fountain against the physical law of gravity. There is no method by which owners can be forced to run their establishments at a loss, and a strike should always be based on accurate and authentic knowledge of the present state and immediate prospects of the mar- ket. In such matters nothing is so costly as ignorance. The operatives at Fall River have sacrificed at least three-quarters of a million of dollars, to say nothing of the un- certainty, suspense, anxiety and suffering which have attended their fruitless strike. Estimating their average wages at the low rate of twenty-five dollars a month each of the strikers has lost fifty dollars in the two months ; ang multiplying this by their num- | ber, fifteen thousand, makes seven hundred | and fifty thousand dollars, which has been absolutely thrown away in this misguided and uhsuccessful movement. By expending a small fraction of this sum they might have acquired such knowledge as would have pro- tected them against what was destined from the beginning to be a costly failure, because the condition of the market did not warrant a strike. If it be asked how men of little education en- education here and in China. He thinks that to let the people of China know through their schools and colleges the wonders of other lands will be to stir up a desire for * knowledge that will do much toward bring- ing down the barriers that have so long sepa- | knowledge which they have no time to | rated a nation as civilized as China from the sterner and more necessary civilization of the Christian world. If this Commissioner suc- | establishment sometimes find that the safety | and small opportunities, whose time is con- | sumed in the routine of their daily toil, can acquire the requisite information, the answer is that they must have recourse to the | same method that is adopted by other classes of the community who need a kind of special | acquire. The partners in a great mercantile the bank and suffer it to continue to impose upon the public. We had supposed the duty of the Bank Superintendent to be to examine the savings institutions, and, upon discovering that any of them are unsound, to immediately step in for the protection of the depositors. If “indulgence” to a rotten con- cern, because most of its creditors can afford to lose their deposits, be really within the legitimate scope of his duties, then the laws must be wofully, at fault. Mr. Ellis’ state- ment is, tosay the least, a most singular one, and needs explanation. A Despatcn From Putiapeiruta gives us an account of the recent experiment of send- ing fresh peaches to England. During the height of our peach harvest some speculators endeavored to send fresh peaches across the ocean on an Atlantic steamer. The ice supply ran out, the coolness of the temperature could not be maintained and the fruit was spoiled. We are told that the experiment attracted much attention in England, and that the agent of the Queen was present to purchase supplies for the royal household. The failure is to be regretted, but we are informed that its pro- jectors will make another attempt next sea- son, and we trust with more success. can only add the peach to our European ex- ports it will be an advantage to foreign nations as well as to our commerce, ° We Learn rrom Panis that Léon Say, Minister of Finance, has made an indiscreet | speech, and that an attempt was made to | force hjm to resign from the Cabinet in con- It is difficult to comprehend ex- | Bequence, | the government, which is in a conservative | mood, has ettled the difficulty,” and this | distinguished financier remains in office. | Few events would be as damaging to the | young Republic as the retirement of M. Léon Say. | which threatened that result has been over- come. Genenat Howanp writes an interesting let- ceeds in opening the eyes of China to her true | of their transactions depends on questions of | ter correcting tho mistakes of a historian im position in the world, and the necessity of | law upon which a mistake would be fatal. reference to the battle of Gettysburg, These and fraternal intercourse with all na- | They accordingly employ comnsel, and no | narratives and corrections of narratives afe tions, he will do a great work not only for his | money is so economically expended as that | valuable, In time they will teach us what pide sh Sax civilization, estowed in fees for lewal advice, If they | is really historv. If we | the wages of their hands, a_ strike against a fall will. certainly prove abortive, involving loss, humiliation® and suffering, . like the recent strike | actly the objection to M. Say'’s speech ; but | We are glad that the difficulty | Low. Some of the comments of the city press on the shooting of the so-called giant, O’Bald- | win, by Michael Finnell, his partner in | business, were hasty and thoughtless, and | ought to be reconsidered, All large cities abound with people whose death might, in one point of view, be deemed. a public benefit. If the haunts of thieves and burglars, | or the streets or parts of streets given up to the lewd uses which make them the peril | and often the ruin of young men, were blasted by lightning or engulfed by an earth- quake, the moral atmosphere would, no doubt, be purified; but it by no means fol- lows that the destruction of the vicious classes by human agency would be for the public advantage. The gene- ral interest of the community mast be managed by the community itself as a collective body acting through its authorized representatives. It will not do to let every individual be the judge as to who are useful and who are pernicious mem-» bers of society, and to permit every man to kill at sight such people as he may think useless or dangerous. Such a rule would establish thetight of free murder and operate: as a dissolution of civil society. We reprobate all the comments on the murder of O’Baldwin which imply that it is a good -thing for society that such a man is got rid of. The worst thing that could hap- pen to society would be the adoption of this principle. Society must decide what it will tolerate or disallow, and there could not be a more danger- ous absurdity than a permission to every low ruffian to decide whether his an- tagonist is fit to live. Even if it were granted that men like O'Baldwin ought to be outlawed, the question would still remain as to who should be empowered to pronounce the sentence against him. It is an oflice which properly belongs to impartial courts of justice, and any line of comment which implies that Michael Finnell did a good ser- vice to the community in usurping the functions of a judge and jury and passing asentence of death is the wildest kind of absurdity. It is for the Legislature to define crimes and declare their penalties ; itis for courts to determine whether in any specific case the crime has been committed and the penalty incurred ; it is for sheriffs to execute the sentence of the law. But the newspaper comments which congratulate the public that aman like O’Baldwin is fortunately put out of the way are a virtual concession that every low ruffian may usurp the joint functions of legislature, courts and executioner. It is essential that there be but one rule of punishment for all classes. The poorest, lowest, most friendless and most degraded individual in the community is entitled to the same protection and the same impartial justice as the most reputable member of society. There can be no crimes except those which the law declares to be crimes, and it would be a subversion of all sound principles for the law to be a respecter of persons. O’Baldwin was not killed for the commission of a crime, but in a quarrel. Even if he had committed a crime, his murderer was neither a grand jury, nor a petit jury, nor a court, nor a legal exe- late society on a result which undermines the whole fabric of justice. Men like O’Baldwin’s murderer are not entitled to have their crimes extenuated on the plea that they have executed a wild and irregular justice. The murder of O’Baldwin is as great a crime as if it had been perpetrated against a citizen of the highest standing, and it ought to be punished with the same unrelenting severity. of California Business. When the Bank of California closed its doors, a little more than a month ago, the inflationists on this side of the continent were very ready to point to this misfortune as evidence that coin is no greater security against panics and loss than irredeemable paper money. They have not had to wait lo..g for their answer, and they have it this ricming in the reopening of the bank's dors. No kind of currency, neither coin nor paper, can prevent men from imprudent ad- ventures, It is the bad quality of an inflated and irredeemable Paper currency that it tempts and irresistibly draws men into spec- ulations and baseless ventures. It is one of the merits of a specie currency that it makes men cautious, and that even the most san- guine and adventurous are restrained. Thus it is now known that Mr. Ralston’s misfor- tunes came upon him, not by rash over-spec- ulation, but through his desire to advance the legitimate industrial interests of the State, in which he engaged funds which, un- fortunately, could not be drawn out on de- The Bank Resumes speculator in the sense in which Mr. Jay Gould has that name. But it is also a transcendant merit of a specie currency that, disaster occurring, the remedy is easily and rapidly attained. The “bottom does not fall out,” to use the slang of the street. And the reason is that there is real value to fall back upon. The com- munity in California used a currency which has intrinsic value. On the day when the bank closed its doors the depositors and creditors of the bank were doubtless embar- rassed; but the general public suffered no loss. Whoever had a dollar in his pocket knew that that dollar was as valuable then as before the bank closed. People did not look into the paper the next morning to see whether their dollars were worth seventy or eighty cents, or perhaps only fifty, as people did here after the panic of 1873, and still continue to do, alas! Finally, the use of coin undoubtedly fos- ters a high sense of commercial honor, When the Bank of California stopped its directors at once met, counted their losses and pre- pared to pay their ereditors dollar for dollar, There was never a day of doubt as to the safety of the bank's creditors. It was. an- nounced at once that all losses would be made good; and now we see that, with an honorable pride which will raise their credit all over the world and will make California respected everywhere, the friends of the bank not only pay what the bank owes but « few short weeks after a most embarrassing 4 hundredths, Immediately to the northwest-, a sass and fourteen hundredths. The low cutioner, and it is preposterous to congratu- | mand. There is no pretence that he was a | and costly stoppage reopen its doors. Busi- ness at once goes on in San:Francisco; the panic stops. And here we are still flounder- ing about, two y! after our paper money panic, and scarcely see the end yet. The Storm Over the Lake and the Atlantic States. For some Ways past the barometrical read- ings over the region of the Missouri and lower lakes have indicated a very. low pressure, accompanied by a comparatively high temperature, moving with the usual easterly tendency of northwestern storm cen- tres, The air from the surrounding areas of high barometer has been pouring into the depression, creating rapid variations of tem- perature, dangerous winds and unusually heavy rains, At one o'clock A. M. on yes- terday morning the centre of low pressure was at Indianapolis, the temperature at that point being fifty-four degrees and the baro- meter at twenty-nine inches and fifty-nine Region ward of this Tisturbance we fin an area of high pressure, the centre being at Pembina, the thermometer indicating thirty-eight degrees and the barometer standing at thirty pressure isobars extended from near Gal- veston, Texas, to Marquette, Michigan, with slight variation froth direct lines, and, with the exception of tue more southerly States, clouds and heavy rains prevailed east of the line indicated. The rainfall extended at intervals from the Mis- sissippi at Cairo northeasterly to the mouth of the St. Lawrence. At noon yesterday the centre of low pressure had advanced along the southerly side of the lakes fay enough eastward to warrant the prediction of danger- ous winds on the Middle Atlantic coast, and the cautionary signals were accordingly hoisted in this city in the forenoon and still continue to be displayed. The telegrams from the lake region inform us of disasters to shipping, but these have been unimportant, owing to the timely display of cautionary sig- nals along the lake ports in anticipation of dangerous gales. The barometer in this city at six o'clock last evening stood at twenty-nine inches and fifty-six hundredths, marking the eastward approach of the storm cen- | tre. At the time of observation heavy rain was falling, accompanied by oc- casional flashes of lightning. The sur- face current of air blew steadily from the southwest, indicating the steady advance eastward of the centre of low pressure. Judging from the,movements of the high and low pressure areas to the northward and eastward of New York we will ex- perience in this city and vicinity strong, cold, northwesterly winds. The temperature will fall solow as to produce frosts, and will be followed, probably, this evening by a rising barometer and clearing weather. During the past month the mean tempera- ture in New York was sixty-three de- grees and eighty hundredths, while the mean for the same month, during the thir- teen years from 1850 to 1863, was sixty-five degrees and ninety-three hundredths, show- ing only a slight variation for the month of September in twenty-five years. The mean | rainfall during the thirteen ygars above | mentioned for September was two inches and eighty-four hundredths, while for last month it was twoand a half inches. In September, 1874, the unusually large mean of seven and one-sixth inches was regis- tered. The highest velocity attained by the wind last month was @hirty miles an hour, onthe 16th, at nine o'clock P. M., the pre- vailing wind during the month being south- westerly. The data furnished by a meteoro- logical comparison of months and years shows that New York city is visited less frequently by violent storms than points to the north and south and enjoys a more uniform climate | than many other places apparently less ex- posed to the elemental warfare, Tue Fonerat or Rev. Dr. Porrrous took place in Brooklyn yesterday. There was some difficulty about finding a clergyman of | his own creed to perform the funeral services. Dr. Schenck refused on the ground that the deceased had not been loyal to the Church. Other clergymen were found, however, and the deceased divine was honorably buried. His life seems to have been as strange as its end was tragic. Somenopy has published a foolish story to the effect that Senator Thurman is not heartily in favor of the election of Governor | Allen, Senator Thurman has thrown away the best chance that ever befell a public man. He cannot retrieve this error now by an eleventh hour abandonment of the candidate of his party. Pouce Commissioner Smrru has succeeded in introducing civil service after a fashion into the police. The Board has resolved | that all promotions shall be made upon areport of a committee who’ will examine each candidate upon his knowledge of police law, city ordinances, police regulations, the management of the stations and infantry tac- tics. If General Smith's plan is honestly | enforced the police will become as fineas any in the world, Tue Commirrez on Crate continued its sessions yesterday. This committee seems to have investigated more and discovered less than any legislative body in history. Yes- terday it visited the Workhouse, and seemed at last to reach a “bonanza.” It was shown that no care wastaken of the morals of the | prisoners. Young and old were thrown in together, boys of ten, arrested for swimming, being locked up with confirmed drunkards, The Catholic clergyman on the-Island com- plained that the sexes were not separated. Onanity Coat.—Mr. Laimbeor testifies that the distribution of coal to the ont- door poor by the Commissioners of Char- ities and Correction is “a perfect swin- die.” This may well be the case. It is a sort of service that invites to roguery, and that is an invitation never slighted in our city government. Some thorough investigation of this municipal gift ot coal would be of interest; for it would prob- ably be found that the poor get but little of it, and that the friends of the right parties haye their household expenses reduced by these little bits of thrift. If an exposure of this sort did away with the.whole system it } 70 a would be a benefit, There is no reason for | the distribution of the coal that is not eanally, good for the distribution of bread and meat and clothing, and even for the public pay- ment of house rent; and we scarcely believe that we are ripe yet for the ‘panem et cir- censes” of Rome, The Extortions of the Cable Monopoly. Itis within the power of the Americam government to protect its citizens against the grasping avarice of the cable monopely. The quadrupling of the rates for messages when a competing line is disabled shows how devoid of conscience and justice such companies are, and with what alacrity they practise extortion when accidental cireum< stances put it in their power. In defiance of the fact that a large business can be done at lower prices than a small one cable mes- sages are made four times as expensive under an accumulation of messages, As they, could be sent at a profit for twenty-five cents a word when the business was shared with another company ,it is sheer ex< tortion to charge a dollar a word when all the business falls to one oompany- It is a” defiance of just cofmmercial princiz ples, for it would be ridiculous to say that a wholesale business requires a higher rate than a divided or a retail business. Tha recognized rule is that prices descend in pro« portion to the largeness of the transactions The extortion is so manifest that citizens will seek a remedy, and there is an easy and effective one which public opinion can bring into use, The governments which permit ocean cables to be connected with their shores have a perfect control of the subject« Such cables cannot be landed and operated without the consent of the governmentd which have territorial jurisdiction over tha terminal coasts, and they can attach such conditions as they please to the privilege.; The Legislature of New York, in granting railroad charters, has exercised an undoubted right in limiting the rates of fare. Such a limitation has been imposed on the steam roads which run through the State and on the horse railroads in this city. It is a wise protection of the publid against the extortions which might other. wise be practised by grasping monopolies. A similar limitation will have to be pnt upon the cable companies unless they mend their ways, The right to restrain them cannot ba questioned, The cable companies have na control of the shores which are the termini of their lines. The governments having ju- risdiction can permit or forbid the use of tha shores at their pleasure, and the right ta prohibit carries with it the right to prescribe conditions if the privilege is granted. It ia just as competent for the sovereign govern- ments having jurisdiction over their coasta to prescribe a maximum rate for cable mes- sages as it is. for the Legislature of a State ta establish a maximum rate of railroad fares when it grants a railroad charter. We warn the cable monopolists that they are tread ing on dangerous ground when they take ad- vantage of a temporary absence of competi- tion to pragtise a gigantic swindle on tha communities of two continents. Wait Sraeer Yesrenpay.—Union Pacifia | suddenly tumbled yesterday, selling from 1 to 64 1-2, With closing pricea at 66. .ue street appears to have beem somewhat amazed at this sudden turn, for stocks generally fell in sympathy. Mra Jay Gould is so well known to have beem the main support of Union Pacific in tha street that attention was naturally fixed upom him, and there were rnmors that some lafga loans made by him had been called in, whicly obliged him to sell out in order to raisa money. Among the street reports is ona that attempts to borrow money on Union Pa« cific at six per cent failed. This, while money can be got st two or three per cent, ig a singular indication of lack of confidence im this security. People evidently do not place much faith in Mr. Gould as the Ajax of the street, capable of bearing on his shoul ders so great a load as he sometimes at« tempts. Considering his mischance im Western Union, if ho should now meet with bad luck in Union Pacitie he would hardly, be regarded as master of the Stock Exchanges ‘Tur Announcement that the Hon. Fernanda Wood does not think enough of the demo- | cratic success in Ohio to contribute a dollar to the ticket, and that, on the contrary, he is prompt to express his want of sympathy with it, is making a profound impression in Penn« sylvania and elsewhere. The question hag arisen in the minds of many democrata whether if Mr. Wood does not desire tha success of Allen does he desire Hayes? Te Morning Standard, of London, has @ despatch to the effect that many of the tele« grams about the Herzegovinian rebellion “were manufactured in the interast of un< scrupulous stock jobbers.” The Herarp haa feared this all the time. It is hard to believa any news from Turkey when Turkish securi< ties have the same position in the Londom market that Erie and Union Pacific stockd hold in the market of New York. PERSONAL INTELLIGENCE. Mr. Moncure D. Conway is residing temporarily af the New York Hotel, Judge Rouben Hitchcock, of Painesville, Ohio, iq staying at the St, Nicholas Hotel. Rev. William P. Pearce, of England, is among the late arrivals at the Hotel Brunswick. Governor Charles R. Ingersoll, of Connecticut, are rived last evening at the Albemarle Hotel. Mr. Albert Keep, President of the Chicago and Northe western Railway Company, is at the Windsor Hotel. Military reconnoissances, under the direction of Count Von Moltke, are in progress on the Silesian fron« tier, Mr. R. Holland Duell, the recently-appointed United! States Commissioner of Patents, is rewistered at tha Astor House. Mr. Thomas Allen, President of the St. Louis, Irom Mountain and Southern Railroad Company, is stopping ‘at the Fifth Avenue Hotel, Judgo Charles Daniels, of the New York Suprema Court, arrived at the Grand Central Hotel yesterday from his home at Bufalo, Sixty-three milliards of francs—$12,600,000,000—were spent by the combined nations of Europe in tho effort to put down France between 1791 and 1816, Mr. Jobn M. Douglas, President, and Mr. James C. Clark, General Manager, of the Illinois Central Railroad Company, have apartments at the Brevoort House. They have just caught a full grown Jesse Pomeroy im France, He was taken in the act of killing a littla girl, and the remains of {three missing children wera found in his house, Perhaps the success with which the Vico President “burked” the Adams movement in the Massachusetta Convention may not ultimately bo to bis satisfaction, ‘That little game may yet remind him of the guns ——which, aimed at duck or plover, Buck back gad kagck the awnex over, we %