Jasper Weekly Courier, Volume 19, Number 34, Jasper, Dubois County, 31 August 1877 — Page 2

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WEEKLY COURIER

ff. MAII, FtMiafcK,

JASPER,

INDIANA.

CURRENT NEWS. (JKXKKAL. Gm. SmmtMm, wl k simeieUy m4eae4 bylwMeat Dtaz to iavftrtigate the herder tmiW, awl who has recently been hi KHferHe wkh the Government authorities at WaUate, arrived at VrewBsvttie, Texas, en the 14h, Md immediately offered m reward of $8,809 for the ensure of the prieeeers released from the Jail at Kio Grande City. He thinks that our Government wiH seea reeofnite the Diaz Gersrnmeet in Mexieo, when efeetual steps will he takes t speedily terminate the border trouGm. Terry and Capt. John MeXeil, of St. Lottie, have bees appointed by the Secretary of the Interior Commissioners to visit Sit ting-Bull in Canada, and arrange for his re turn to the United States.

The land ease involving the title of the j BHt W3W hOQn

State of Kansas to over 35,000 acre of land, being an a gregate of the grant to the State under the aet of lSftl, admitting Kansas into the Union, has been decided by tae Interior

Department in favor of the State

to the boat and were p4ks4 up in about an hour by the steamer Tempest. C. K.HedgM,ot Skmx City, a Government eattte eontraetor, wa reeettly found killed on the road between Fort Kandsll and Sully, baring been shot through the head, it U supposed by Indians. A wagon eontaining three men wne run into by a train on the Louisville, New Albany and Chicago Railroad, near Lafayette, Ind., on the lfHh, George Foulk and William Dtond were Instantly killed, anil Frank Cote fatally Injured. The mining town of GeyYille, I). T., about twe miles from Ieadwood, wm almost entirely destroyed by lire on the morning of the 19th. Chit of about 200 houses, only two were saved. At Oak Mill, Atchison County, Kansas, on the night of Sunday, the 19th, Robert Scruggs went to the houe of hl father-in-law, Jasper CHiphant, and demanded to see kl wife, who had left him tome time previously on account of hie ill treatment and gone to her father'. Xr. Oliphant rcfuseu to admit his son-in-law into the house, whereupon the latter drew a pistol and

1 shot Mr. Oliphant in the breast, killing him I almost instantly. The murderer Med.

pursued and overtaken

by a party of neighbor, who undertook to arrest him, whereupon he again drew his revolver and shot one of the

, party, Jacob Graff, killing him instantly. Scruggs then ran and escaped from his pur-

Seeretary Sherman said in his Xaaeteld , hUeni, but subsequently went to the resl

epceeh: "The President authorized me to I of a Justice of the Peace and volun-

ay one thing, ami one thing only, lor mm , tartly surrendered himself. The following

and in his name, and that is that all reports that impute to him any participation whatever in the nomination of candidates on yenr State tieket, or any desire or purpose to Influence in any way the Senatorial contest in Ohio, are utterly groundless. These are your matters, and I can assure you,

for him, that he has not and will not inter

t morning a crowd of altout 00 armed men j surrounded the house where Scruggs was In

custody, lorcibiy toOK film from the officer, ami going to the adjacent woods hanged him to a tree, ltoth Oliphant and Graft' were old and esteemed citizens, while Scrujrgs was a drunken, quarrelsome, and generally worthless fellow.

dm am described a horrible in the extreme. The superinumdent of relief operations in Ad'jm report that a Journey over one ot his roads resembled the- path of a great tattle In the number of dead and dying. The Unltwl Statei Consul at Havana, by letter dated Aug. 7, Informed the New Orleans Hoard of Health that up to that date 13 eases of yellow fever had been reported in that harlHr, four of which had proved fatal. He adds: "The disease may be considered epidemic to a limited extent, but ota mild type compared with the former

season

Ml.uW. I owell 1ms arrived at Madrid and

had a very friendly reception from King Alfonso. Gen.Graat was In Copenhagen on tho 18th, the guest of his brother-in-law, Dr.Cramor, American Minister to Denmark. The War. A dispatch from Bucharest, 17th, says it Is reported that the fever epidemic in tho litisslan army in llulgarla is increasing. The troops are also in want of food, and they refuse pay unless they can receive It In coin of their own country. They threaten to surrender to the Turks unless they are paid In theooln demanded. Tho present state of affairs in the army U very alarming. The Russians, numbering 33,000 Infantry, 10 regiments of cavalry and 110 guns, on the IStli attacked Muhktar lalw along the whole lino extending from Magarajikh to Takinlar, in Armenia. The cannonade begun at 7 in the morning, and at (i in the evening the Russians retreated In good order to their encampment, pursued by the Turks. Tho Turks lost 1 killed and wounded and the Russians 1,:i00. A Constantinople special, 'Jlst ,ays the Porte has ordered the immediate eoneentra tlon of50,000 militia of the second class at Adrianople, Soda and other points near

the scone of operations. '1 he Russian Press

pose m any sucn, eoniest oeiween political f The three principal operators in a gang Agency authorizes the statement to be friends." , of forgers, whose operation have been I published that tho Russian losses in the two Prof. Hall, of the Washington Naval Ob- conducted on the most extensive scale and i Ktt.u tu.fn-.. pwna ,- from h.ooo in io..

lervatory, on the night of the lmh discover- extended to all parts of the countrv, were ed a satellite to the planet Mars. Its time ! arrested in Chicago on the 16th. Their of revolution id about 30 hours and its dii- 'names are T. J. Henderson, alias Stevens, tanee between 14,000 and 15,000 miles. Prof, wealthy grain and stock speculator of Hall thinks he has also discovered a second Chicago, E. It. Weston, formerly a real

ami imaller satellite to the same planet, but e-tate agent of the same ekv, and

000 men, half of whom were killed or seriouIy wounded. About 5,000 are in hospitals at SMova, Simnitza and Turnti-Magurcll. Of 200 persons attached to red-cross ambu-

t lances, 40 were killed while collecting the

The Western Union and Atlantic and Pacific Telegraph Companies have been consolidated. All earnings are to be pooled, extra oateos abolished, and former rates restored between competing points. The ninth annual session of the National Beard of Trade was held in Milwaukee, beginiag on the '-1st. KAST. An oil-train on the Allegheny Valley Railroad, standing on the track at McCandko

will Bred further observation to filllv eon- I Vfan r.nuur nf Mimia.m. .(! I

----- . . x w.-nv a ra,an v " frm this. ThU discovery is eoniidered by , t0 be likewise a man of wealth, aotronomers as among the greatt teleseop- t amj formerly a member of the ie achievements of the century. ! State Legislature. Amonif the most suc

cessful forgeries committed by this gang were one of a $27,000 check purporting to have been drawn by Winslow, Lanier & Co., New York, which was paid by the Third National Bank of that city, and another purporting to have been drawn by the New York Life Insurance Company on the Union Trust Company ef New York, for 40,000, which was also paid. The aggregate amount of the forgeries committed by this

gang it believed to exceed a million dollars. When arrested they had in their possession

Station, Pa., waa run into oh the 14th by a t all of the implements necessary to carry on paseenger-tram. The lire from the loeomo- their vast schemes of swindling, including a the ignited the oil, and the name spread j number of genuine drafts from which all rapidly, destroying t He loeomotive, baggage- j writing had been obliterated except the oar and two paeseBger-ears. The engineer 1 cashier's signature. Weston and Gresner and ireme of the passenger-train were se- were arrestt in Chicago and Stevens in riemdy burned and two or three passengers Grand Haven, Mieh., and all three were riicktly. .... taken to New York City. deveral persons were seriously injured, on Thc of a mtl t0 be J. II. the 14th, by a eolllsloH on the Troy and Bos- j M:lcke of the Mm wf Lcwi( & Mackey, lawton Road at Hoosac Junetkm. vers,t uroojjivn, x, y., was found Ih the Four men were fatally burned by the ign - woods near Newport, Ky., on the liHh. The tlen of ga at awn ing oil well at smith's bkuU wa, Iraeturtd aBd tlie lMMjr jajy tle. Ferry, I a., on the 14th. eomiKsel. It ws1? identified by papers fotmd Vermont's one-hundredth birthday was iB tbe iKkets of deceased, eetehrated on the 1Mb. The lth was the i A ,Uipatch from Sslt Lake, 30th, said that

wounded.

A New Hampshire Love Affair. In Nashua, N. H., r thing has happened not whollv new under thu .sun. A young man of Nashua fell in love with a girl wno disliked him. He gave hern ring worth $10 on condition that she would keep company with himforti week, supporting that he could win her aflections in that time which sets in a pleasant light the Arcadian customs of the Granite State. Ho failed, however, and then hired her as his true love aguin this time for a month and for a silk dress worth $35, throwing in another ring before the expiration of that time, only to find that he wai turned off with contempt when the contract eamo to an end. This curious lover was then guilty of the inexpressible meanness of demanding back the rings and dress, which the girl refused to give him. The story is full of queer suggestions. It is evident that the young lady made a pretty fair discount in the retail price of her company for a week when it was sought by wliolesale for a month: and the question naturally

i arises whether the feuitor might not have secured her forever on ' liberal terms bv offering a good round

THE FINANCIAL 1K0UIi8X.

How nml Whun fnymoHk Is t bo KwiHwrtt-Kxr(u rrHt M'rrntry Hherihhh' HptePH Ht 5anHcll, Ohl. And now, fellowclttaeiu. tbls brlims me to the niieetlon upon which tiern Is so who i ill verslty of opinion, so many wiranne delusions, Hint tlmt U, thequestlon f ajweie payment. What do wo mean by this phrase? Is It that wonreto have no paper muuey in circulation? If ho I am as much opposed to It as any of)ou. 1 It tlmt weatoto retire our green, back circulation? If so I am ojumsod to U, Hint have often so said. What I mean byspo do payments is simply that paper money ouxlit to be made equal to coin, so tlm wboii yu receive It, It will buy kh much w-ef, corn or clothing h roln. Now,tbn question Is hi to TUKTIMK AMI MOIK bv which thi may be brought about, and on tills subject no limn should be dogmatic, or stand, without yielding, upon a plan of bl own, but should bo willing to gi' and take, securing the bent expedient that public opinion wilt allow to be udopted. The purIMise and obligation to bring our pnper moucv to the standard of coin have been over and over axaln nnnouueed by nets of Con. Kress and bv the platforms ot the great political parties ot the country. If resolutions and promises would bring about specie payments, wo would have been tliete long ngo; but the diversity id opinion as to tho iihkIo now twelve year alter the close of the WHr .il leaves our paper money at a discount ot ft percent. Tntl! this is removed thero will be no new enterprises, but money will Ho idle and watch and wait the changes tlmt may be mitdw before we reach thu apecie MandHi-il. In 1 Congress pledged the public faith that the I'tiltod states would pay gold or silver dollar fort'ulted .states notes. Again, in Jiimmry, lb7.1, after moro than a year's dliate, Congress declared that by tho tlrst of January, YsT'.t, the United (states would pay its note in coin. Tho secretary of the Treasury is expressly required to prepare for, and maintain, (he redemption ot all United states note presented hi tlieTn'HMiryou and after that dntc, and for that purpo-c he Is authorized to uso all tho surplus revenue, and to sell bonds of tho I'nlted states bearing lour, four and one-half and tl vo per cent. Interest nt par in coin. It is tbls law, called TIIK Ur.st'MI'TtOS ACT, now so much discussed in the papers, tlmt Imiiose.M niton the oltlee I bold. tin-t ditlluUlt

and imporiimt duties, and without replying to any attack'- nmdeupoii me, 1 am nuxious toconvev toyoit personally, whatl bit vt done and tnut do In obedience to the provisions of

tbl net. It is salil tlint, tlie law is iicieewve, but. tf the riiit t obieet and oolicv of the law-

is right, the machinery of the lawcould easily bo changed bv Congress. That resumption can bo secured and ought to be secured under

tills law, it will no my purpose to snow you, mid 1 Mlntll not hetititto to twiiut out such de

tects In thu law as have occurred to me In its execution. There hiu two modes of resumption either to diminish the amount of notes to be. ru-

tlcemed, which is eommouly calletl a con traction of the currency, 'or by tho necuiiMtlatlon of coin In the Treasury to enable, tho :eeretarv to tnaintain resumption. TIIKOXK 1'KACTICil. IIK'KT in the law Is, that the Secretary is not at liberty to sell bonds of the t'nited States for

tllllU'lt (nt'.n tiJv-r tiifT t-Kft !' coin. Ah coin is not In dreulHUon hhiohk tho

the old battle-ground for these two days was ,n fr,, at llnl.iu.thi.l(Mk iv ti- mUu It is obvious that ho stopped his

vWted by thousands of people to participate v la Idaho boBt m mlhsi Horth Fort ' commercial oiwrattons at a po.nt where in the Centennial exercises. President Hayes IIal, They had destroyed the telegraph i 11 13 u-suh1 for l,t,,P' in l'e fashionable and a portion of the Cabinet, several Gov- I ,jHe ; the klnUr aj,(1 ,,0plM,d a)1 ,rayt.i world to begin theirs. Before marriage, eraers and other dMHlnguh4ted personages ovcr the rwMj Biimlwr of friendlv ho- lw,1,enes, attention and good humor on were present. aIM, hal S0He forHrara to t the part, of young gentlemen are things TheMarykmlworkingmenhaveorganlzed j m GcB H0Ward, who was in pursuit of I l ecl'lbJ1 "jy guod breeding, anil t hough apolitical party. ; :h kftstnM lovers should give presents and girls

Mrs. Kate English, of Pittsburgh, Pa.,t Xmml IiwlLin cohbcII U to b- l.old at I overflow with aHuction during the court

a fataliv burwvl an the lth bv the unet- ! . .... ... . .

spuKane raus, inaNo, ior ine purpose pi quieting those warriors who have not yet ' jkHned .Ioeph's lnd, but It is feared might i be easily persuaded to do so. About 100

ing era, every ring as well as every kiss

is looked upon, in accordance with a wholesome social fiction, as a sponta

neous expression of love, it is oniv

was fatally burned oh the 19th by the upet

tingef a kerosene lamp, and died on the wise day. The eoal miners' strike In the Lacks wanna. Lehteh. Luzerne and Wyoming ValleyB

of Pennsylvania threatens to become gener- ".T Z., Z .1' ! he tHtisseil that tho financial lmsis on

al, the total number of men at present loek- 'thu 'UUm !h i w,,iHmi i.r ri vrn Hiiiehtlie AcwIlHinpslure lover cond' ont Winge.tim.ted at from ,000to V LtrXZ c t

Chief-and head meR are exooeted to be ' " uo" .'"Sr. '

009. The strike at present is founded upon

a demand of a restoration of May wage, or an advance of 96 per cent, on present wages. The operators have offered to restore May wage should the present priee of eoal be maintained until September 1. This does not seem to be satisfactory, and has been rejected. No serlons troubles have yet occurred, but a eollHon is considered imminent at any time, and a large poliee and militia foree are constantly en guard. President Hayes and party were at Mount Washington on the 30th. Public receptions were tendered them at KHtkutd, Rrattlebere, Windsor, ami other towns in Vermont. The President declined an invitation from Gov. Connor and Senator Blaine to visit Ifaine, on aeceunt of previous engagements. WMT AND BOOTH. An exploding kerosene can this time killed two children of 3fr. T. W. Lavelley, at Flushing, X. Y., on the 14th; and Mrs. Den Beste, of Pel la, Iowa, may be enumerated as Hhc more K. K. Smith, Surveyor-General of Montana, has been suspended upon charges of misdemeanor In ofliee. The Government eanal around the Dee Meines Rapids of the Xhwmsippi Kiver, at Xeokuk, Iowa, m so for completed as to admit the passage of boats, and was formally opened on the 23d. Judge West, the Kepublleaa nominee for Governor of Ohio, opened the campaign by a speeeh at BettefontaliM on the 18th. He aowddered the tabor problem as the est Most difHeuk of solution now Wore the country, and favored the voluntary adopt fon by employers ef a graduated seale of eentalxed minimum rate of wages.) The steam propeller Ctty ef Madmen, ef Milwaukee, waa burned on Lake Miehlgan the mefBwg ef the 17th. The ere w took

" .,' '.. an acnuisiuve

XI Vi. t! t ; , "P- jewelry and silk The United States revenue officers in hen- ' 'i,,,,.,?, ..ft,,!,,

turn could get all the

dresses she wanted 19 fromtittii tw Itni

... ... .t 1 . 1.1. 1 . I llll' I. V 171.VI 1111.111 . I t . V-lV.V'ti. v,

VJ TVT ; m ,7. mi T,? H name, why should shortish into efforts to hrelr tin Illicit riiatilliHif in that " fr . . . X ..

State, whteh is said to be quite prevalent. A number of serious collisions have occurred. Over 100 arrests have been made. At Omaha, on the 30th, during the prevalence of a thunder-storm, a row-Wat on the river, containing a party of ive persons, was struck by lightning. George Stadge was instancy killed. Mrs. Heger sprang from her seat, threw out her arms frantically, fell backward into the stream and was swept out of sight. The remainder of the party, one man and two women, drifted safely to the shore. A panic occurred on the steamer Phil. Allen, just as she was preparing to leave

Memphis on the 21st, caused by the blowing out of her safety-valve. Anumberof passsn-

matrimony? As for the young man,

unless he was prepared to rival Jacob of old, he should have abandoned his enterprise after the outlay for the first gold ring. If ho could make no impression in a week ho ought to hnvo known that nothing but a siege of several years would prove effective. New York World.

Sending Plants te Sleep With Ether, Several members of the Parisian BioJ logical Society have recently been engaged in a series of experiments which seem to prove that every thing endowed with life, whether animal, plant or ferment, is suscentible of beinsr brought

ger jumped overboard, and others from the under tho intluuiice of anmsthotics ; in boiler-deck to ths lower deck, among them other words, may be sent to sleep. It

nas neon provuu mat me inuuuncu oi anesthetics extends to all the animal tissues, and last of all to thu central nervous system. Hence, it was argued, plant having tissued must also be sub

ject to the influence of ether, etc. Ex

Mis Klla Lapaugh, a correspondent of the New York ,V, who was severely iajursd.

hone of the others were hurt. The Lakeside House, a summer hotel on the Third Lake, Madison, Wis., was burned on the morning of the 21st. The eoutents of

the bouse were all removed Ih safety. About j jerimenUi have proved this to be the

100 guests were at breakfast when the Are

broke out In an out-building, but there being no lire applianees it was not possible te save the hotel. Less about $18,000; insured fer $12,000. A lire eeeurred at Anoka, Minn., on the atth, a large amount ef milling property heinf destroyed. FOKMftJN. The Privy Ceuneil has eeeided te prohibit the landing in Great Britain ef leaves or Malka ef potatoes from the United States, Canada or Germany, after Aug 31. The estate ef the famine in (Southern In-

case, tiermtnation is arrested by an esthetic. The water-crees, for example, germinates within 30 hours. Ktnor arrests germination in this plant, but does not destroy that faculty. It merely sends the plant to sleep, for germination recommences as soon m the use of ether ie suspended. This capability Of Iming sent to sleep is not confined to plants ; it extends to ferments. Thus the ferment of beer, what submitted for 21 hours to the influence of ether, becomes perfectly dormant, but recovers activity ae soon as anmethetic action is suepend- . MMten Ckmicml Journal.

' people, lie is practically prohibited fromU- ; titK ootids to the people, except by an evasion ot the law, and through private, parties. . Ilunds art) in demand and can readily bo sold . at par in coin, and stilt easier at par, or at a premium, in L'nited States notes. The prol es of t-ellltiK for t'nited Slates notes need not o far before the meto fact that they are ' receivable for bonds would brhiK them up to par in coin, and that Is specie payment. Hut the reason of thu refusal ol Congress to grant this authority, often askntl of it, was ' that It would contract the currency, and the fear of contraction has thus far prevented CotiKrcrs front granting the easiest, plainest

ami ure.t mode ot resumption, to ttvom ' contraction, It provided that Rational I Hunk notes may be Kucd without limit . as to the amount, and that, when issued, United States notes tulKht be retired to tho ' cxtoqt of fotir-lltths of the bunk notes issued. , This W as the only provision for redeeming

I'nlted States notes that Congress made or would make, audthl-s It was supHM!d, would reduce tho rolled states utile to fWW.WO.iXKi butorc January l.isr.). Tho acttialoxpcrltneut oniv proves the- folly of the cry wo have had for moro money I more money ' IIEIIU WAS KltlU: HtNKIWS,

a free ami almost unlimited right to every i body to l.-suo moro money, but unluckily for ! vMomtry theori-ts, it was money that had to I beseemed; not wild cat money, but money : that people should -Icpupoti w ithout fear of ! brenfclntr. The result was that Under Into ' banking the is'tie of circulation has been lar less than win expected, and, therefore, tho , reduction of United States notes was less. , atill there was some reduction. tireenbaeks have been retired under tho not of January, leTTS, lothls tluictotlieamount of 4!,ttn,7tio, and near frJ.noojhoouf circulation

were issued to national tiaiiKs. Since tin 1st f March last the reduction of I'nlted states notes has been .fS.n.yjtil, untl this reduction was preceded by new circtila. tit hi issued to bitnks, uuiotttitingto near $( 50t) (mjo. I do not say that this is the only reduction of tho currency tlmt has happened, but it Is the oniv reduction that was inado by thu United States. TUB K.VTION.VI. HANKS, undent different law and fronuho very no. cesslty of fteo banking, aro at liberty tti retire their currency us well as to incruae It, and thl has been done by tlient Mneo the 1st of January, 1S7.1, to thoaiiiotuitof 48W,tMl.l2. Hut this U h reduction effected by each bank, guided by its own Interest, and tho circulation it can safely ami prudently maintain. There ate now deposited with tho Treasury by privato corporations, banks and iudlvidu als,$'7,170,i0 of United States notes. Of this there were deposited by tho National Hanks at their last statement, made June ii.il t.l.W,. tM0, and they have In thocash reservoheld by them 2,Voo,OQO more than theatnount required by law, clearly showing that there is no want of currency when demanded for the requirements Of business, Slnco JHtmary 1, 17". tho United States has Issued $I,K,(W) of silver coin, and has redeemed with that Jl,ttso,o80 fractional cur. rency, now almost superseded by silver coin, and also hold W.lV8of United States notes for the redemption of fractional currency still overstauding. In this thuro was no contraction, but a substitution of coin for fractional currency. It was an error to make their retirement of United States notes depend upon tho Issue of bank notes. Thu two had no relation to each other, but the retirement of United Statee notes should depend entirely upon the amount necessary to bo withdrawn, to ad Vance within thu limited time the residue to par in coin, and thu simplest mode of doing this was to authorize THK1K CONVKKSloy INTO HOKOS, at the pleasure ot the bolder, tho bonds to bear tho lowest rate of inlet est that would In ordinary times be maintained at par In gold. To this thu objection Is made that we convert a non-Interest. hearing note into an Interest-bearing note, and that Is true; but what right have wo as a nation, or has any bank or Individual, to force Into circulation as money Its note, upon which it pays no interest? Why ought any one who Issues a promise to pay on demand be made to pay it when demanded or pay interest thereafter? What right has he, In law or Justice, to Insist upon maintaining in circulation Ids note, which be refuses to pay according to bis promise, and which he refuses to receive In payment of a note bearing interest? A certain amount of United States notes can be, and ought to be, maintained at par In coin, with tho aid of a moderate coin reserve held lu the Treasury; and to tho extent that this can be done they form the best possible paper moneya debt of the people without Interest, of equal value with coin, and more convenient to carry and handle, licyond this, the right to issue paper money, either by the Government or by banks, is a dangerous exercise of power, injurious to all classes, and should not oontlnuo a single day beyond the necessities that gave it birth. Hut, If Congress should see proper to eonlino tho process of resumption to the present law, we have still THK SKCONtl MOK of resuming, by accumulating eoin gradually,

so that when the time Axed for resumption

arrives, ine -i rrasnrr taar no anie to leiioem

such note as are presented. In t his respect

tlie itsuiHpiioH set mas tun una iiimtuI its human language ran frame It, The Secretary is authorised to prepare for resumption, ami

torn at iniriNiw) to iiso ine suriuus revenue

and sell either of the. three classes of bonds, all of whleh are now at above par In coin. The power can be, ought to be, and w ill be, executed If not repented.

The accumulation, both m sliver and srold.

can bo made by arresting from oxHiitatlon our own production of these metals. This is

more than sumt'ient to sunmvour want for

this purpose, and, fortunately, wo have plcio

ty ox outer lirouucuons, corn, cotton, wneat and fabrics, the fruit of our Industry, for exnort. This countrv' Is the urealcM nroducer

of gold and silver In the world, ThubalHtieo

oi loreign trinieis in our iavor, miring Mio last fiscal year our ex portH ei reeded our .tuports In gold value the sum of Jlotl.tWi.v. and this balance Is steadily Increasing. This year Providence has blessed us wit h an enormous crop of almost every production ot the farm or plantation, and tho foreign demand is largely increased by the Husxlan w ar. Kusaia Is our great competitor In supplying Kuropo with bread, and sbu will now consume hor own products. Wo hayo now reached the coin basis In the production ot comtuoditcs for tho foreign market. otm kxi'ohtatiow ok iionr. tammics has Increased and is Increasing, and wo arc now competing with Jtichester and lHrtn. Ingham lu the sale of products that have made those, cities famous throughout thu

world.

Our manufactures of cotton, iron and wool now rival lit torelgn markets the oldest countries of Kui ope. We have during the live months of ('resident Uayc made an actual accumulation of currency, and of gold and silver coin Hiid bullion, of ftl,:U0,S!ti. From tho 1st of May to this time wo hnvo added to our coin reserve f-'O,. 000,000 by the sale of bonds, without dUdruhIng the money market, and with gold steadily on the decline. Wo have reduced the public debt, since the 1st of .March, the sum of $-iV lll.sfl. We have conducted the vast operations of unr loans, already referred to, without disturbing the course of trade or enticing a shipment in gold. All the fears expressed so often in the papers, at theo movements, have been proven to be groundless. Wo are now within the degree of the -spU" clu standard. We have still seventeen months before us in which to complete the task. The same progress that has been made slnco the lt of .Mareli.cohtinucd twelvemonths longer, will certainly bring us to the specie standard. I feel conllilentiu saying to yon this day that, If undisturbed, with or without a change oi the law, every dollar of United Mates notes will, before the time fixed for resumption, buy as much aa an equal amount uf either gold or silver. A CONSTHUCTtO.V OF TIIK UKSl'M I'TIOV ACT has often been pressed upon tho Ucp'otnient that, if correct, would make It still moro oitsy to carrv it into execution. It Is insisted that the Secretary has the power, in prepatiiiK for resumption, tosell bonds for coin, and then to sull the coin for United States notes, to lit hoarded in preparation for resumption, Tho Department lias not acted upon any such construction but has sold gold only in tho current course of business, or for the actual redemption of notes supplanted by National Hank notes. If this power is exerclscd.lt should only be In pursuance of the pKfu wilt of Congress, and, in the execution ot s. lclt cat a duty, no power should ha used e."ept such as is clearly given. Tho act of April, IM76, for the redemption ot fractional currency, provides that silver coin may be Untied In exchange for United States notes, and such notes shall bo kept us a special fund for the redemption of fractional cunency. This fund ami the ordinary currency balance in the Treasury are the only jmper money of Its own. Thccoln and legaltenders deiKmlted in thu Treasury art the property of private Individuals, over which the Treasury has no control.

I I have, fellow. citizens, I nope wttnoiii wearisome detail, gone over some point-nit

inis question ot icsiiiiiimoii. ji is n mm, uiu Important topic, which affects your dully lift, upon which my otllclal duty compel mo to act, ami I assure you that lliave only acted upon the clearest convictions of public Interest. A currency of United States notes, based upon tho public credit, always convertible Into coin, and so limited In amount and .-up-IMirtcd by rc-enes that its convertibility can not bo endangered, and mtpplomcntcd by a bank currency Ircc and open to all alike, based upon public securities, so that in any event tho noto-holdorls safe from loss.always redeemable In coin or United States notes.

unlimited In amount except by mo wants ni t business this is the kind ot paper money that will start again the wheels of industry, give sails Jo your commerce, labor to your arti

sans. Tills, indeed, would te tno HKsT l'.vrnUCI'HKKNOV IN THK W'OKM. Let tho currency 1m supported by a public credit iiKiiinst v.tiich a whisper or a doubt

can not bo uttered, and your public debt will !bo reduced to Its lowest possible bimb'itot t Interest, and will become the great dcposl- , buy of tho saving of labor, the trustee ol the I widow and orphan, the safe, rest of capita! j not employed in active industries. ; These, as I understand t hem, are thitjmmt i tlnatuiat objects of this Administration, nd, i with vour permission and tho sanction of Uotigiess tho President may hope to celebrate his outgoing, with your debt reduced to 1 4 per cent, tool every bote ot the United Mates

wort n par in inn nest com lssueu nout uiu mint. You now occupy the forefront of thia battle. 1 beseech you to uphold bis bunds, and not let tho delusions of the hour or the

temporary languor of business, which you share with thoclvilUed world, turn you from 1 u nciHfv u hlcli vein have HHtietloned and call

now hopo to realize.

THE MARKETS.

XR W YORK, August 2i, is; 7. HKKVK .Vntlve Bteers 17.10 f V2 V

ioxhii knu uneroaee

lallEKP. ,

l.aiiiDs IKMiS-I.ive OOTTON-Mlddltng FLOUlt Good to (Jholce. . . .. WIIKAT-Ked Western CORN Western Mixed OATS Western MUed I'OltK Now Mess ST. I.OU1S. OOTTON Middling BEKVES-Cholce to Fancy.. Good to Prime.... Native Cows

Texan Steers

6.oi

4 .no

r..i.'i 1.S7 13.11

it

S.7A

O.Oi) 5.73 "iijitf 13.23

HOGS Shipping

SIIKKP-Grippcd rLOUK-Choico.

S.A0 f,.l '2.60 2.40 4. HO 5. 'Jfi ;. S.MI

1.15 3t'X

0

x v ir

WIIKAT-Ked No. 2 " No.S COKN-No.2,Mlxed OATS-No. 2 ...

TIMOTHY SKED Prime.... 1.46

TOIIAUCO-Uark Lugs 2.60 Medium Dark lAiaf.. .M HAY-Oholce Timothy 10.50 RUTTKIt-Oreamery l EUUS-Kresl OH POKK-Standard Moss 12.M WOOIi Tub-washcd.Cholce 30 Unwashed Combing 'JO CHICAGO. BKKVES Common to Choice 3.4S HOGS Common to Choiee. . 4.M SHEEP Common to Choiee K.oo rLOUK-Chotce Winter. 7.00 Choice Spring fl.76 WHEAT Spring NO. 9 1.08 " No. 3 1.00

CORN-No. 2 Mixed 42

OATS-No. 3 RY'K-No. rOKK-New Mess

KANSAS OITV BKKVKS Naeive Steers " Cows HOGS WWVK-XX to ratent, sack. CORN MEAL, per cwt

CORN-No. 2 aw

NEW ORLEANS. FLOUR Choice ramlly 8.75 UORN-Whlte.. 4...... H OATS St. Ixiuls.. ........... 38 HAY-Prime 4... 17.(w PORK-NewMess 13. BACON Mf (JOTlOK-MKitllng

fil 12.30

3.10 2.40 4.46 2.00 HO

1.04

H m m

m

s

10.V. 5,75 .40 3.(10 4.00 S.'Jt) 4.73 ."5 5.70 1..10 LIS wi '-V.Ji 66 Lf.0 3.73 -AO 11.00 .10 ty 12.73 40. M O.10 5. 7. 7.25 1.08 Ji 1.01 . 42V 12.40 4M S.43 4.30

4.00 ! 1.05 7.M OS 40 18.00 ;4.oow 10,V