Terre Haute Evening Gazette, Volume 6, Number 219, Terre Haute, Vigo County, 28 February 1876 — Page 1

VOL. 6.—NO. 219.

ROBINSON

CRUSOE'S

MONEY.

The Island Statesmen

In­

flate the Financial Bladder Till it Bursts.

SYMBOLIC VALUES IDEAL wealth.

AND

PICTORIAL BEEF—ILLUS HI A. TED jHILK -('OATS OP Pa "MT-DOC-UJlliliTARY PROFITS-MUL-

TIPLIOiTIiiN BY DIVISION,

Hatd Money Trn»h at Hi3 IJolhmi of Mr. Well's Allegory.

Mr. David A. Wells has prepared an interesting little work on tho currency, intended to simplify the subject and bring it to the level of ordinary popular apprehension. It is profusely and aptly illustrated by Nast. and is a vehicle of amusement as well as instruction.. We insert from ad vance sheets some extracts, which will give an idea of the felicity and pungency of its illustrations:—

SYMBOLIC MONEY.

It followed, of course, that to have and enjoy anything and everything, it is only necessary to create and use its symbol of representative, and to pay for value received it is only necessur}to imagine a corresponding sind equiv alent value, and pass it over in exchange and settlement. On these conclusions of law and reason, then it was decided by the three leaders of the philosophers and their friends, who had control of the Government, that the future money of the State should be based. The former inscription on the currency in use, "promise to pay," they were clear, was entirely unnecessary for why promise money when thestore on hand of money was to be made practically unlimited, or at least always equal to the wants of everybody who desired to have it, whether he traded or not? Mathematical calculations were also made by scientist, which proved that the amount of labor which would be actually sav ed to the community, and made available for other purposes, by using something us money whicli costs little or no labor to produce, in place of gold or commodities which represented much labor, would oe so great as io require the immediate enactment of a law prohibiting any one from working over six hours per day, in order to guard agaiust the evil of too great abundance. The same scientist had previously be«sn so carried away by his demonstiations ol the utility of a new stove which saved half tbo fuel that h« had recommended the purchase of two stoves in order to save the whole.

With few exceptions, to be hereafter noted, the whole population of the island was jubilant, and proceeded as rapidly as circumstances would permit to adjust all their commercial transactions to the new basis. But joy at the prospect of the coming millennium did not extinguish feelings of gratitude in the hearts of the people, and they re solved to send ample testimonials to all, in foreign lands, to whom they had been indebted for wisdom.

IDEAL HONORS.

To each of the judges who had so intelligently defined value, they accordingly voted an ideal castle and an estate,possession of the same conferring nobility upon their owner, with^thp ti tie of "Baron Ideality," to which, by special patent,the recipient was authorised to use (if he pleased) the prelix ot •'damn." To the most notable advocate, in foieign lands, of tho idea ol non-exportable money, a gilt of 1,000,000 of "instruments of association, represented by ideal currency, was voted. But as this ideal currency, both by law and the fitness of things, could not be exported from the island, it became impossible to pay this gift, and in its place a letter was written explaining the circumstances, and requesting that the resolution to pay might be accepted as a "sign of transmission." To the eminent financier who defined^ money "as a sense ol value in reference to currency as compared with commodities there was sent a plastic image ot the "What Is It?" while to. bis colleguo who had given the opinion that 'the less costly the material out ot which money is made, the better (or the community who uses it," was sent a large box containing contributions of tne most worthless things everybody could think of, with a polite note requesting the recipient to make his choice outi ot the eollncMon of what seemed to him best adapted as a token, ai.d lorwaid a detailed report of his expeaieuce attempting to use it as a represent.atn of unrequited service.

PICTORIAL. BEEF.

Pending the sloy preparation of the Government of ibajJsland to provide the requisite laws for the issues and use of the new money, various enlightened individuals-attempted to anticipate official legislative act ion by pu tting into practical operation, on their own account, the principles involved in the ne^ fiscal system: The first ot these who thus acted was a Secietary fS? th? interior part of the Island, whose cbief business it was to supply the heathen—for whom, it wiil ba remembered,

Robinson

TAINTED RAIMENT.

Tho managers of tho Islaud Provi dent Society also promptly determined to develop« and apply the ideal isystem in ttieir sphere ot usefulness tomhe full ex'ent that circumstances permitted. Thus a ltrge part of the busiuess 1- of this old and respected society was "r the distribution of clothing to the destitute: and as is always the case when

times are bard, the extent of the d9 mands made upon it for aid tended to exceed'the means ot supply contributed by the charitable.. The managers however, knew that it would never answer in using the ideal system to snbserve the work of charity to put the locally needy the same looting as the heathen, and in answer to appeals for raiment distribute to them elaborate pictures of lino clothing, cut from the fashion plates, lor there was this essential difference in the situa tions, that tho needy were at their doors, while the heathen were a great way off. They, therelore hit upon this happy moan:—They employed a com petent artist with a full supply of paints and brushea, and when any des titute person applied or clothing they pai! ted upon his person every thinti he desired in the way of clothing of the finest and most lashionable patterns from top-boots to collars, and from blue swallow-tailed coats to embroider ed neck-ties, with jewelry and fancy buttons to match. courao, the first muii who appeared in public thus arrayed created a profound sensation But the idea was so novel and had obviously so many advantages over tho old way of clothin one's self that, the supremacy of the ideal over the real was at once greatly strengthened. For example—and here was one of tho greatest merits ot the new system—it not only symbols ed, but practically applied tho views of the most advanced iiaancial pbiloso phers favored (as the orator-philoso-pher wished) "more Democracy and 1 ss aristocracy in the. clothes markeS." and encouraged tho use of the loust costly material out of which the community could make clothes while the painted coiton, silk, wool aud leather could be made to look so exact ly like the real articles, that it was only whan the attempt was made to exchange the representative for tho real that the difference was clearly disceruible. Fur thermor, every garment devised in accordance with the new system was in all cases, a perfect fit. Tne plague ot buitons was annihilated. Every man could save lime enough in dress ing and uudressiug to enrich himself, if ho only employed his economized moments useiuliy. Every man might without embarrassment, sleep in his clothes aud if he desired to cnange his monkey-jacket 365 times in a year for an overcoat, or an overcoat tor a mon-key-jacket, he could do it most expeditiously, without the waste of any thing riiore expensive than paint, and thus tho system, after a time, by a happy thought, got the name of 6he "three-sixty-five interchangeable." Of course, this answered very well so long as the weather continued mild and pleasant, but later iu the season when io became cool and frosty, experience soon showed that the warming qualities of different kinds of paint were riot essentially liferent that something more than confidence was necessary to keep out he cold, and that the temperature and circulation of the body physical remained unaffected whether a man painted himself sky blue one day and pja green the next.

APPRECIATION OF PROPERTY.

Again, two shrewd fellows. Peter von Bcrapehem and Israel Double, owned each a farm of §10,000. Peter sold his farm fOr its full value to Israel and took a mortgage for the ?otal pur­

chase

money, and Israel in turn, sold nis to Peter, and took a mortgage also for its lull value. By so doing, each ol these worty persons clearly doubled the property in his possession, inas much as while each had at

place

the

Crusoe took up

contribution—with beef. Thgre has been a suspicion lor some time past haneine over this official that the beuUieodid not get all lb. b«f that tu were entitled to^ but to® cion Probably had no further foundation than the inability of thei to make the sense of

co™Plet^R(,ion

monize with the sign

of

*r*?""fa"£e

To satisfy the heathen and at ihe same time effectually .clear bis official in question now have prepared a laree numbar of pic tures of fi'iP, c»ttle, which be dispatched by a Quaker to tbe beathen, with a request that they would kill hdo eat and be satisfied, adding, in a postscript. that they would do well to begin to learn economy by saving the skins. As the Quaker "ever came back it. was deemed reasonably certahi tbatYat least, the first par* of the request bad been complied with.

som

the

outset

only §10,000 worth ot real estate, each now had §10,000 of real estate aud §10,000 of personal property or an aggregate of §40,000 between them, in the

of §20,000 originally. This method of multiplying property by multiply iug titles was so easy, and the result aw apparent that the example was very generally followed aud whon the consus came to be taken, a few mouths afterward, all wei.e amazed at tne enormous increase of wealth that had tollowed the discovery and simple recognition of the true natare and value of titles.

THE GREAT MILlv AVAR.

Up to this time tho supply of milk on the island had been mainly controlled by a singla corporation, which, under the name of the "L icteal Fluid Association," owned alt the cows, and for the purposo of facilitating supply bad long been ill tho habit of issuing tickets, each good for a pint or a quart of milk, and disposing of milk to those only who had tickets, These tickets revolved perfectly iu the closed circle ol oxchange between the milkmen and thwir customers,

satisfy

ing all demands

and beiug accepted as the same thing as milk, for the more tickets, the more milk, and ne tickets, no milk. During the war the cannibals, in lack of any other meat, had eaten a large number of

cows belonging to tho "Lacteal Association." Many had been also taken by the Government lor the soldiers, so that after the war was over there were really no more cows than the islaud absolutely needed. All at once the "foot and mouth dissease" invaded the islaud, aud, attackiug every cow belonging to the association, rendered her unable to give milk. Then rose such a piteous cry from every household where thtro were babies as sent a pang to tbo stoutest hearts. There was no need of any concerted action, for the people wssom bleu spontmeuusly and deuiardjd action. Au immense public meeting was at onco organized. A highly popular and humane man, a special friend of the children, familiarly known as Uncle Dicic, wad called to the chair. He w"s supported by along list of leading citizens as Yico Presidents and Secretaiies, none of whom, however, had had any practical acquaintance with milk since their childnood, except in the form of. punch. Tne chairman made an eloquent speech. He did not know whether he was most agitated by pity or indignation—pity tor the f.oor babies, whose sufferings had become in tolerable indignation at the cruelty the chartered monopolists, who had wantonly refused to issue more tickets at the very time when he demand for milk was most imperative.

MILLENNIAL MILK.

The assembly was of one mind with the (.'hairman, mid unanimously re solved that the Lacteal Association should immediately increase their supply of tickets, and that, in default thereof, their charter should be altered and amended. Unable to resist the storm of popular indignation, the asseciation at once complied, and every patriotic citizen went home to the bo­

ot his afflicted ianiily, carryi/ig an abundant supply of milk tickets, and feeling conscious that lor once at least be had risen to the level of the occasion That night the babies

printed

were a

supplied with milk titketsin the place of milk, Milk tickets hot, milk tickets cold, milk tickets sweetened, milk tickets plain, milk tickets with their backs

green, and interchange­

able with milk tickets drawing cream skimmed from other milk tickets. But

strange to say, the babies, one and all, with that same sort of instinctive perversity which induces children of larger growth to refuse to accept shams for reality, and be grateful in addition, refused to take to milk ticketai The uproar of the night piecediag was as nothing to the' disturbance of the uight following, and morniug dawned upon an unrefreshed and troubled population.

OUT OF THE MOUTHS OF SUCKLINGS.

As soon as tho necessary arrangements could be made another mooting assambled. But the meeting this time was composed of babies, backed by their mammas and nurses. Tbere \vas no theory in their sentiments and, though young, they felt that they had lived long enough to know what their fathers apparently did r.ot know— namely, the difference between milk and paper. The resolutions voted were biief, but to the point, and were substantially as follows-:

First that the exigencies of the times demanded more milk, and not more milk tickets second, that the way to get more milk was to have mora cows third, that the way to get more cows was to go to work and raise them, or to raise something else equally valuable, and then with this something else buv cows fourth, that that there are certain eternal verities asainst which it is useless for either babies or men to contend. A committee waj appointed to procure a mill of the gods to grind up those who disbelieved in the last resolution, and the meetiug tlion adourned.

IDEAL PINT POTS.

This was the first indication of H113*thiug like popular dissent from the views of the Friends of Humanity. Others, however, soon followed. Value having been declared to be an ideal thing, and ideal measures of value having boen substituted in the place of the real and tangible measures formerly in use it had been deemed proper to substitute ideal measures of length, weight and capacity iu the place of the foot rules, yard sticks pound weights, and bush'el measures formerly employed. Shopkeepers, plumbers, charcoal men, gas corporators and all others who had anything to sell accordingly provided themselvo3 with slips of paper upon which were printed respectively 'This is a foot," "This is a bushel," "Tbisiis a pint," "This is a pound," and tbe services of the arithmetic man were sgain called for to prove bow much more cloth, beer char coal, gas and all other measurable things the community would certainly have by the saving of labor, and capital contingent on the avoidance ot the necessity of further manufacturing, purchasing and using the old measures. But the new system did not work smoothly.

There

was no.

harmony of sentiment between buyers and sellers, and wbat was one man's ideal of what he should give or receive "trade was always different from every other man's, and before the community were well aware of what they were about tbey found themselves drifting back to the adoption ot the old system of barter which bad boen tried and abandoned in the early days of the Island's history.

SCALES OF EXCHANGE.

InsteatTorbne price, every one who bad commodities or services to sell, adopted a scale of at least four prices: —"Fay price," "money price," "pay as money price" and a "trustiug price aud the seller, before fixing his pries, invaraibly asked

hi3

customer how he

woul8jpa"y. "Pay price" was barter "money price" was the payment in foreign coin "pay in money" was in the ideal money of the island "trusting" was an enhanced price, according to time. Thus, supposing a customer wanted a knife, its price in "pay" weuld be a bushel of corn in "money price," a fifty cent gold or silver coin in "pay as money," sometimes as much as he could bring in a basket, at other times as much as he could brintr in a wheelbarrow and before the ultimate abandonment ot the use of ideal money, a cart had to be employed to bring the money. Trade in this way became most intricate."

THE TAXATION TALISMAN.

News came also about this time that the heathen, not being able to fetay their stomachs with tha pictures of fat cattle that bad been abundantly sent them, and considering themselves humbugged, v/ere preparing to declare war. To meet a threatened increase of expenditure on this account, the Gcverument, therelore, levied new taxes, ana as they valuation of the property of the island, under the influence of the new fiscal system, bad, as before stated, enormously increased, it was anticipated that a small rate would yield a large evenue. But as soon as Serapebem, Double and their friends, who'had been multiplying their property by multiplying titles, found out that tbe titles were to be valued and assessed as wealth equally with the property which the titles represanted, thev hastened to swap liack, and cancel "their mortgages and immediately half tbe reputed wealth of the island disappeared.

TIGHTENED REALITIES.

All who had loaned valuable commodities desired to avoid tappiug and consequently hastened to deinaud repayment before the ideal money could bo extensively issued and put ihto circulation, and having onci obtained payment were very cautk'ii* how tboy lent it again. -All this contiibuted, iu the language of tho day, to make money vory tight but this language had, to a great extent-, no meaning. The only money that was tight was good money, and this had been gone so long that the younger part ot the- population didn't even know how it looked, while of the bad money there was a continually increasing quantity. Besides good money, all real capital, timber for building ships, factories and houses, ir»n for tbe construction of macbiuerv, cloth for clothes, and grain for food were tight not because there was an lack ot all these useful things, but because the owners bad all become alraid that if tbey once loaned or parted with them they would never receive back au equivalent. So the island, in, stead of being lifted up to great prosperity, was plunged into the depths of adversity. There was a general lack of confidence. Societary activity was abated, production arrested, and men

Kainrp inrinstrirma kus) nn

disirous of being industrious had no opportunity of following any industry.

BASE ACTION OF FOREIGN CAPITALISTS.

Gold had long disappeared from circulation. Although produced in large quantities on the

isJ^LBd'

none of it

would stay there, but flowed off to foreign countries in a steady stream Tho uncommon expl»nat1®" phenomenon was, that gold had become the cheapest thing the island produced, ond was, therefore, tbo first thing exported. But a majority of those who said and heard this did not see ihat the average purchasing power of gold the world over, had not varied in any degree, but the price of eyery other thing

i"- :t 7 c*£- ^'V'"* V** vf-V.y'jt '.

TERRE HAUTE. INL.: MONDAY EVEMMG. FEBRUARY

produced on the island had so varied and relatively increased, by reason of domestic fiscal circumstances, that it was far better for the foreigner to take pay in gold for all the commodities ho sold to the island, aud then, with this gold, purchase in other countries the very things which the island especially produced and wanted to sell. As already intimated, the islanders found great difficulty in understanding this little arrangement but the foreigners understood it as by intuition, and never tailed to act upon it. All of this further contributed to turn upside down and inside out, tho industries of the island aud while tho friends of humanity continued to loudly proclaim that tbe issue of more money would cure all difficulties, the.people, sorely distressed &ud ready to acc?pt relief from any quarter, began to loudly marmur in tutij, at what seemed an unnecessary delay in making the issue the fact being, that although public opinion was nearly umnlmou* on the subject, the regular time for the Congress of he iai.tKd 11 meet and en ict' laws bad liot come round.

STILL MOjlE IDEAL MONEV WANTED.

At last the long expected day arrived and Congress assembled. All the special and immediate friends ot "more inopey," of "ideal money" and of "humahity" were members and hardly had the presiding officer taken his seat before fifty men sprang to the floor, each-with a resolution demanding immediate fiscal legislation. The first resolution adopted was. that the Government should at once supply all the mone^ which the wants of everybody and every trade and overv industry might, could, would or should require, am-l that the money thus issued should be legal tender for the payment of all debts, past, present and prospective.

DtVlDE AND MULTIPLY.

The rest important question was, iu what manner siiould the new and unlimited supply of money be distributed?

All

saw at onoa that it would

never do to commence on a system of giviug unlimited something for unlimited nothing and j'et, if this was not done, how was it possible for the wants of those who had nothing and who, of course, wanted money for this reason most imperatively, to be supplied? L5?sides, to create an unlimited supply of the new money it would bo necessary to have a good many hundreds of thousands of slips ot paper with the words, "This is a:dollar," "This is ten dollars," or ^This is on them all of which, in. turn, would require a great expenditure not only of ink and paper, but a so of timer while the necessity of the hour was for immediate relief, especially to trade. It was, tberetore, decided to leave the

troub­

lesome question of equat distribution fcr a time unsettled, and endeavor to first relieve trade by doubling tho volume of the currency. And in order to do this at once and without cost to tbe Government for engraving, printing, paper and ink, it was therefore enacted that everyone having legal tender currency might cut,or divide the same into two equal halves or pieces, and that each of tbeaie BaijeCorplCCes wonld be a lega35Mxki@$^^lie full amount that the whole had previously boen. At first thought this proposition to exclude all those who had no money from participation in the new supply seemed most palpably unfair and unjust, but a little consideration satisfied to the contrary for unless it was proposed to to give away the new money it was obvious that those only would get it who had money, and that the proportion which allsueh would obtaiu would b:i in proportion to what money they already had. It was, therefore,deemed wise to anticipate what was certain to be the ultimate result, and distribute it in the manuer indicated.

ADDRESS. o*%-

«0V. THOMAS A. HE.VDR1CKS, -ATTHK-

Sonihem Iudastrial Exposition at N Orleans. Febnary 28,1876. Mr. President, Ladies and Gentlemen:—It is with great satisfaction that I fiud myself among you to-day. I understand that the exhibition which we have assembled to inaugurate, iu the magnitude of its pro« potion, iu the variety of its attractions and in the fan-reaching scope of its usefulness, is superior to any which has ever yet been held in this region of our country. I sympathize with the deep interest you have in it success. I do not think you overestimate its great importance. Here from workshop, field and household you have gathered products of your industjy and trophies of your skill. Here you have both the token and the pledge of a returning prosperity, and here, also, you have iuvaluable opportunities of studying the means and modes by which yourlabar may be best applied hi the develop* ment of your immense recources, I should find it difficult to give an ad* equate expression of my high appreciation of the honor done me in the invitation to address you upon so auspicious an occasion. I esteem it no small privlege to be permitted to ad/dres3 at once the two great classes of producers: The tillera of the soil who feed the world and furnish the material for its clothing, and the skilled mechanics who make scientific agriculture possible, and by whose labors all the manifold material appliances of civilization are prodnced.

I think a happy aud most hopeful sign aud one for which your board of management deserves your thanks that in this eypositiofi agricultures and the mechanic arts have been so harmoniously brought together Why it

should

not

ful

have been sol

prepared

modern times, this tenden­

cy has shown itslef iu the information and sentiment of of political parties, but it has shown itself more trtquently perhaps more powerfully in social alienations and iuvidious class distinctions. Sueh antagonism, let me repeat, is

most uuua

lural

soil of ancient Greece, Egypt and Sy^ ria, marked both the rudeness of tbe .agriculture and the low state of the artisan. The polished aud beautiful plow of our own day, which sits steadily in the furrow aFmost without so[ port, shows the present progress of agriculture and the wonderful advancement of mechanical juveutiou.

The steamboat and the railroad train are triumphs of tho art of the mechanic, but they are alsoevideucesof an agricultural productiveness, which demands the aid of the mechanic iu the transportation of the teeming riches of the soil Increased facilities of transportation, on the other hand, stimulate the farmer to increased production, and he, on his p'irt, cnlla inventivegenius once more into requisition to devise and construct new implements by which men's labor may be saved and their necessities more easily aud abundantly supplied.

And now I come to questions of the highest improtanca to every tax paying community in the United States how can you and, aud how much to the wealth of the country by an increased production cf articles of export? That is the first question. The second is this: How, and how far can yoj prevent the loss of national wealth by ihcreaxing your production ot articles which we now largely import? I am glad to think that this exposition is iutended ua an honest and thoruogh effort towards the solution of these questions. Increase of production aud improvement iu quality are your objects, and the increased production of your staples, will add to our exports aud diminish imports. Every bale of cotton and hogshettd of tobacco laid upon the wharves of Liverpool and Havre add to our supply of gold for they command the gold at once and every pound ot rice and of sugar and every gallen of molasees produced here in the ntate of Louisiana save us from importing so much, and thus retain the gold iu the country. Sow, your Imposition is particularly meau ti# bung about increased productiou of these aple*. cotton, rice, sugar tsud tobacco. Tt contemplates improved iuipiementf the adoptions of the best means to strengthen and stimulate your lands the establishment of harmony between capital and labor, and the bringing of a larger area uu» der the plow. It is surely not absurd to thiuk that you may increase the production of your staples by say twenty percent. If so, and if you annually add fifty million dollars to our supply of gold and if a rigid economy be introduced and observed, so as to reduce our national expenditures forty or fifty millions more,our financial question will be solved. Gold and silver will accumulate, the difterence in commercial value batween them and our paper curreucy will rapidly decrease, and with a staple currency commercial confidence, and confidence in useful enterprises will be restored. It is our duly and our safety to give proper heed to tho opinions of men of experience in financial and commercial matters, but the wildest theorist would hardly ask us to base our hopes of a return to specie pay ments on a complicated aud ingenious plan of borrowing gold. That Would be sure to disappoint us and would very probably lead us iuto still more serious perplexities. lean not avoid the conviction that a permanent improvement in our financial condition requires a closer economy, especially in public expenditures, aud an increase of our valuable export? and your relation to this subject is of the highest importance because of the great value of your staples, and the constant demand for them in the markets of the world. This I do believe is eoming to be understood and properly appreciated bv the people of tbe North. The hard times following the panic have made them feel that you and they have an interest aud a welfare in common. And in any just can9e involving your prosperity, you wiU find a reliable support as well in the self interest, as in the justice of the North.

Who among-you can best help in tbe great work of building up our natiftn al prosperity? All classes can.be helpful.

The

am

to say, but it is certain­

ly a fact that there has always, in the history

of

mankind, appeared to

be a tendency to an unnatural jealousy if not antagonLm, between the agricultural and the ather industrialclasses. Sometimes as well in anc ent as iu

and hurt*

Agricultu.re

cal

and the mechani­

industries

are equally necessary

in laying foundations of an enduring

prosperity

iu evejj nation un-

dpr heaven, and neither can advance to excellence wUhoui fhe other. The wooden PloW which scratched tbe

mechanic who contrives and

constructs a plow, which with the same draft will run one inchfleeper than the plow vou hyve been using, or whose honest work will make the old plow last a season longer, the chemist who teaches you the constituent elements of soils aud plants and the conditions of tertility in any plant on any •soil the editor who gives his daily or his weekly column to the records ol experimental husbandry by which the scientific few help to enrich the many the experimentalists who try the theories of students by the patient test of practical experience the husbandman who does an honest days work in a fair day's time the careful house wife, who may posBibly appear to make but little, but who cau and does save much the upright Legislator, who looks rather to to the honor of his country and the interests of his constituents, than to the exigenoies of his party, and by righteous laws protects your persons and your property tbe pure aud just judge whose heart and hands are clean from all corruption, and whose authority shelters rich and poor, and weak and strong alike the unselfish and laborious executive, who administers the laws for the happiness and well beiRg of the commonwealth—all these can help you, but above all others, those who make the laws, and those to whom their interpretation and execution are confided..

Gambling speaulotions may Indeed oe prosperaus when the foundations of society are all unsettled, but not so with the honest pursuits and productive arts of life. Tue agriculturist and mechanic cannot prosper under bad laws, or under laws .which are dishonestly, unrightously or partially administered. Tney cannot bear the burden of taxation which invariably falls upon them when self-seeking and corruption control public affairs. I believe that the stability and sense or security which are essential to permanent prosperity, require that our political institntions shall be entirely lestored, as wellin their spirit as in: their form. Our experience lias established the fact that they are peculiarly adopted to our conditions and wants as a people. It must oe settled so that it Bball not again be questioned that tbe powers which belong to the States under our form of Government shall be exercised by the States without anyin-

I terference, intimidation or control :rom without. The occasion which I has brought vou together is in no respect political or partisan, and I would not by a single word violate its proI prieties. Intending a criticism upon no one, Ithifik I may properly say that the rt-i «iit history of thi8 city and StsUe has shown that the people c*u not labor and pursue their avocati-jns with success when disturbed and distracted by conflibting jurisdictions over them-

Wo are entering upon our hundredth year of national existence. Shall it be our year of jubilee? Though debts be not released, nor lauds restored, vet past, contentions may be laid aside, and dangerous jealousies may be suppressed. Our development aud progress have been wonderful. Our troubles, I believe, will soon be over. Shall we not, then, joyfully repeat the old commandment to cause tbe trumpet of tho jubilee to sound.

This year defines and marks a poriod. ilencelorth the centuries will measure and define the stages of Ameroan progress, as the Olympiads and the Fifties did among the ancient Greeks and Hebrews.

This centenary will be crowdod with appropriate expressions of innumerable happy memories reaching back even beyond the century. Genius, learning, wealth and enterprise are now engaged in making preparation to exhibit our progress in population, wealth, intelligence in the arts and sciences, iu mechanical skill, iu manufactures, mining and auriculture. Your exposition is the first for 1ST0, and as 1 havo approved its purposa so I must congratulate you upon its success. I trust that in the national celebration the Stales here represeuted will be present by apprcpriatate delegations, and amidst the evidences of wealth, the greatness and glory of our common country, at the cradle of our liberties and by the altar of tho constitution we may once more pledge our lives, our fortunes aod our sacred honor to the glorious dcclara. ation of the fathors.

IUXOIST IPPi.

HISSISS-

Oite Steamer Burned and Auottier Snagged.

STEAMER SUNK OX THE MISSISSIPPI. Memphis, Fed. 28.—The steamboat Oscola, of Captain Bourman, from the St. Francis river for Memphis, with three hundred bale3 of cotton, struck on a soag at Pass landing, 40 miles below here, at 11 o'clock last uight and sunk iu feet of water. No lives lost the City of Augusta brought the passangers up and Ella is taking off the cotton, which will all be saved, but in a damaged condition. The can be raised, aud wrecker Eckert will go to her relief. The steamer May Bell burned at Vioksburg yesterday, took a thousand bales of cottod from here fully insured, of which the Phoenix comprny of Memphis had $9,090, and the.Oreene and L' cas English agency, $5,000.

J. M. Tomeuy, formerly U. S. Marshall of thi9 district, was arrested last night and put in jail at this in°tance. Judge Milton Brown, of Jackson, Tenu., who charges Tomeny with assaulting him with a 'club on the road last uight, knocking him senseless, and robbing him of a large amount of bonds, which Tomeney had paid him a short time before at bis (Tomenys) house. The city is full of visitors, and crowds still arriving. ICS8

BY BURNING-

OK

TflR STEAMER

MARY BELIi.

Cincinnati, Feb. 28.—It is estimated upon reliable dater that the loss by the burning of the steamer Mary Bell at Vicksburg Miss yesterday, will teach over a half a million dollars. She had a large number of passengers with valuable baggage. She was believed to be the largest steamer ever constructed for navigaing the Mississippi, or. any other river, tiif extreme length of the hull, being .'J25. feet breadth otj feet. Iu conslructing the boat over a million feet of water seasoned oak was used. She had battery, eight steel boilers. She cost $125,000. Insurance on cargo will fall heavily on Memphis and New Orleans underwriters. There was no insurance on the boat in Cincinnati.

Kor.!ln GO'fclp

TltK FRENCH ASSEMBLY. Paris, Feb. 28.—Casemini Perier, $t a meeting of the left centre, stated that the reason he had not accepted tbe Ministry of the Interior was because he thought that all who had associated themselves with the policy of Buffet should leave the Cabinet which should be almost entirely remodeled. He referred particularly to Montagrae de Chanvance and Walloh. Ho said, however, that Dufouuehad not finally settled with Prest. MacMahon what course would be takeu. on the meeting of the Chambers.

THE END OF AMBITION.

Bay on ne,-Feb. 28.—Don Carlos with about two thousand men is uow at Raneesvoux very near French border it is believed he will enter France. Today the chief members of the Carlists provincial council have taken leave of him and taken refuge in the French Territory. Charles Manfori ex quene Isabellas Minister for Col onie* who lias been imprisoned for some time at Cadaz has been released.--^-?

London, Feb. 28.—Special despatch dated St Jean de lurz at two e'clock says Don Carlos has crossed the frontier and taken refuge in France.

lbe Conquering Hero Comes. Philadelphia, Febuary 29.—Col. John W. Forney is expected to arrived this afternoon. The Centennial Commission and large parties of the represenatives of the

press

of Philadelphia will

go to cherate to welcome him and to escort him to the city.

Shot.

Princeton^ Mo. Feb. ^.-Saturday night

Asa.Rayuers

some young

«.*

was shot bad by

men, who attempted to

force ao entrance into bis house, the gg|^[ Toung men att6rnpten to get posMggion of Rayners wilo and'another woman named Cargo..

1

/i

PRICE 5 CENTS

I—

FOSiTY-FOURTH CONGJtESP.

SENATE.

YESTERDAY AFTERNOON SESSION Washington, Feb. 28,1876. The Chair laid before the Senate communication from the Secretary of War enclosing a report lrotn the Chiof ot the Ordinance iinroau iu regard to an omission the revised statues of the United States, and recommending such legislation aa will enable the Oi diuauc# Departmout to continue in ro« the system ot property accountability. Ordered printed aud referred.

Mr. Jones piesented the credential^ of his colleague, Wm. Sharon, to b«» Uuited States Senator from Nevada Sor six years, from March 4, 1875. Th»j were read at leni.'t.i and Mr. Sb*roit was escorted to Lie desk by his colleague and the oath of office was administered by Mr. Ferry, Presideunfc protempore.

Mr. Wright from the Committee du civil service and retrenchment, reported favorably on the Senate bill, tixinx the salary of the President of tho United States placed on calender.

Bills were introduced and referred as follows: Bv Mr. Bogy, to authorize tho thircj Auditor of the Treasury to examine* the evidence of payment made by tb.e State of Missouri to the State troops, serving in the Union Army, and also the evidence as to tbe supplies furnish ed to troops which are yet unpaid. Referred.

By Mr. Christiancy, to compensate with the Fiske mills foe a plaster model of General Rowlins. Referred.

Among the executive documents submitted by the speaker, was a communication ir ihi tl At'-oraey Gii e*al, iu response to a resolution offered by Lord, calling for an explanation of his order, touching the testimony of accomplices in the whysky prosecutions. The Attorney General states that such, instructions as be issued were only ia confirmation and approval of arrangements already made, aud as those instructions and arrangements relate to matters now in progaess, tbe Hous» would readily see the prooriety of withholding special information reiatiofc thereto, until she. trials are over.

HOUSE.

YKSTEltDAY AFTERNOON SESSION. Washington, Feb 28. Kerr occupied the speakers chair to-day.

Holman presented a memorial, signed by 1916 soldiers of Indiana iu the late war asking for an equalization of bounties.

Lord moved that the whole subject matter be referred to the Judiciary Committee. He understood the Attorney General to admit substantially all that was claimed about bis understanding to infere with a rule by which testimoney accomplices is taken on a ground that abeses might possibly get out of it, but in fact the accomplice who testifies could in no case have any benefit from his testimony, unless he told the truth. Therefore, without saying now what the Atterney General's motive might have been, whether right or wrong, and without, attempting to impugn his motives in. the least, still, as Attorney General, bad undertaken to chauge, rule and prejudgo tne case, assuming in advance that the accomplices would not tell the truth, he moved that tht* whole matter be referred to the judiciary.

Mr. Randall said that he would like the Judiciary Committee to inquire what had inkuced the writing of the Attorney General's letter. He thought that the iuquiry should come within the scope of the investigation, It was an extraordinary letter, and was, perpahs, adopted to au extraordinary occasion. The Judiciary Committee should report to the House all the circumstance* connected with it, a'nd, therefore, he suggested that the inquiry should be made of the Secretary of tho Treasury as well as of the Attorney General. The matter was referred ta tbe Judiciary Committee.

Mr. Swan, from thej Committee on Foreign Affairs, repoi ted a resolution, instructing that committee to inquire further into the connection of tbe United States Minister to the Court of St. James, with the Emma Mine socalled with power t3 send for persons and paper and with leave to sit during the sessions of the House.

Tbe Speaker, (Cox) in the chair, then called the states for bills in addition to private bills for public buildings.

The following were introduced by Warren authorizing payment to executor of Henry Wilson late Vice President United States equal to salary of Vice President for unexpired portiou of term for which he was electep by Hewet of New Yerk providing for completive design foj architectural wftk

By Mr. Meade, to define the powers and duties of officers of Internal revenue, and to farther provide for the collection of taxes on distilled spirits.

By Mr. Wills to simp! ::'y the lasting laws imposing duties on importp, and to reduce rates therein also to restore the duty on tea and coffee, aud to enlarge a free list.

By Mr. Waddell, to restore the franking privelege. By Mr. Vance, to provide for stationary chaplains in the army.

By Young of Tennessee authorizing a payment for all cotton seed, after May 1965.

By Williams, to repeal an act for resumption of specie payment. He tried to have immediate action upon it, but not being able to do so under ru'es, lie withdrew it.

By Oliver to repeal the law in reference to amount for which silver coin shall be legal tender and to enact a substitute therefor.

Marttei To-day.

Chicago Pork, higher, 2!.40 March 11.TO April. Lard 12.87£ March: 1*05 April 1322y% May. Wheat, ttieady, 1)9% March l.ut# April 1 May. Corn Marc^i 42 A^rii 4&/. May and one.

Cincinnati—Flour and grain dull and unchanged. WhUkev firm, KM. Pork, flru. 22.'.'5. Lrd. flrrr, Hogs,

7.50@8

£0.

New York—Wheal, shade ormtr, a notations unchanged, 10/ to 1.10 for No. V"*" cago: 1.''8 to 1.12 for tor No. 3 Milwaukee* 1.10 to 1JJ5 for winter red western, corn. CO'yi to 64 new western mixed 7U for Pork, firm, 22.75 for new ites*. Wtowaey 1.10.

VALLECO, Box, 8H4 New York.