SAVANNAS DAILY HERALD.
VOL. I—NO. 123.
The Savannah Daily Herald
(MORNING AND EVENING)
18 PCULIBHKD BY
i*. W. MASON CO.,
At 111 Bay Street, Savannah, Georgia.
Per Copy Five Cents.
Per Hundred $3 60.
Per Year— $lO 00.
Two Dollars per Square of Ten Lines for first In
sertion ; One Dollar lor each subsequent one. Ad
vertisements inserted in the morning, will, if desired,
appear in the evening without extra charge.
In every style, neatly and promptly done.
P M. BRUCE.
’dealer EXCLUSIVELY IN COTTON.
FOREIGN AND DOMESTIC EXCHANGE,
The undersigned has made every arrangement to
resume his commercial pursuits so soon as trade res
trictions are removed. I will be prepared to receive,
store, insure, compress, ship, sell ot purchase Cotton,
and make advances on shipments to any markets in
the United States or Europe.
I respectfully invite correspondence, samples and
shipments by both Planters and Merchants, assuring
all that they can rely upon prompt responses and the
E. M. BRUCE.
I refer to Merchants generally throughout the U. S.
and to Members of Congress. Ju3-I2t
Q.ADEN & UNCKLES.
GENERAL PRODUCE AND COMMISSION MER
CHANTS, AND WHOLESALE DEALERS
GROCERIES, PROVISIONS. Ao . ,
CORNER OP BAY AND BARNARD STREETS,
Highest market rates paid for Cotton, Wool, Hides
Ac., and liberal cash advances inade on shipments to
our New York house, jo3-lm
RIDDELL & MURDOCK,
AGENTS FOB ISRAEL R. BEALY,
Wholesale Dealers In
ALES, WINES and IMPORTED LIQUORS,
Os all Kinds and Qualities.
No. 5, MERCHANTS’ ROW,
Hii.ton Head, S. C
JM PORTED AND DOMESTIC
M INES AND LIQUORS,
at wholesale, for family use,
AT i!O7 BAY STREET.
ISRAEL R. SEALY & CO
gAVILLE & LEACH,
BOOKSELLERS AND STATIONERS.
HILTON HEAD, S. C.,
CORNER BRYAN STREET AND MARKET SqI'AKE,
FACTORS AND COMMISSION MERCHANTS,
Robert Erwin, Cuas. S. Hardee,
SHIPPING AND COMMISSION MERCHANT,
A T o 17 Broadway, New York.
Liberal advances otT Shipments to above Consign
ment, made by
HUNTER & GAMMELL,
Agents Pioneer Line Steamships,
84 Bay Street, Savannah.
Reference in New Y’ork—
Messrs. Spofford, Tilkston & Cos.
QUARLES L. COLBY & CO~ ~~~
SHIPPING, COMMISSION AND FORWARDING
JONES BLOCK, CORNER BAY AND ABEROORN STREET'S,
LIBERAL CASH ADVANCES
Made on Consignments to the firm of Cuas. L. Colby,
of New York, or to our friends in Boston.
, A. H. HOLWAY, Resident Partner.
Messrs. Dabney, Morgan & Cos., New York,
derive Slade, Ksq., New York.
Hou. J Wiley Edmunds, Boston.
Gardner Colby, Esq., Boston. mnylß—tf
OTEELE <fc BURBANK,
O it Merchants’Row,
Hilton Head, 8. C.
Call the attention of Wholesale and Retail purchasers
to their superior stock of
MILITARY AND NAVAL CLOTHING
M’atches, Clocks, Fancy Goods, Jewelry, and Plated
IVare,Swords, Sashes, Belts, Embroideries,Boots, Caps
Fi Glasses, Gauntlets Gloves, Ac., Ac., Ac.
The undersigned have this day formed a co-partner
ship under the Arm name of Charles L. Coloy <te Cos,
tor the transaction of business as Shipping, Conmris
sion and Forwarding Merchants.
CHARLES L. COLBY,
ALEXANDER 11. HOLWAY,
„ S LACK EDMANDS.
_ Savannah. Ga„ May lCth, 1805. tf_ maylT
BAKER! & CONFECTIONER! ESTABLISH
. MENT AT BEAUFORT.
W e respectfully call the attention of the public to
our Bakery & Confectionery Establishment in Sana.
A- Cooley’s Building at Beuufort, at which we are
prepared promptly to till any orders which may be for
warded to us. Special attention is paid to the man
uiucture ot Ornamental Pieces, Fancy Contectiouery,
ana Elegunt Pastry, for holiday urf estival tables,
Feb, a-ts McManus & Murray.
YORK HERALD CORRESPONDENT,
is at** °® ce of the Ncw York Herald Coirespondent
111 BAY STREET,
„ ur BTAIBS.
mar 22 w
W* STILL L,VE ' ~
No. IX Merchant’s Row,
PORT ROYAL, S. C.
I do not advertise my Bill of Fare because it is alter
ed ever)' day and i rrinted Bill of Fare is put on each
table every morning.
THERE IS WHERE THE LAUGH COMES IN.
My lee Houses are uow filled with Turkeys, Chick
ens, Beef Pork, Fish, Mutton, Pork Sausages, Vege
tables, and Salads of all descriptions.
THERE IS WHERE THE LAUGH COMES IN,
I have nowon hand about'twelve hundred p ounds
of Ice, so that I can make Ice Cream EVERY DAY
and keep my Soda Water and Beer cool.
ICE WATER FOR EVERYBODY.
IS WHERE THE LAUGH COMES IN.
1 1 have thrge Punkahs and several girls with fans to
keep the flies from the ladies and gentlemen while
eating their cleanly served up meals.
THERE IS WHERE THE LAUGH COMES IN.
My Cooks, Waiters, &c., are all clean. My Saloon
has been newly papered, painted, whitewashed, &c.
THERE IS WHERE THE L lUGH COMES IN.
There is no man in Port Royal that can serve
up Clams in every style better than Mr. Fitzgerald, at
the Eagle Saloon, in the rear of the Post Office,
THERE IS WHERE THE LAUGH COMES IN.
There are many men in New York who go to Water
street, where they cun get their whiskey for three cents
per glass. But you will find that GENTLLEMEN will
go where thoy get the best articles regardless of ex
AND THAT IS WHERE THE LAUGH COMES IN.
HONEY IS UP AND SUGAR IS DOWN.
QLAMS! CLAMS! CLAMS! ‘ *
IN THE SHELL OR SHELLED OUT,
With other Refreshments, at the oldest and best stand
ON HILTON HEAD ISLAND,
For a va.iety of something Good to Eat at all times, at
THE EAGLE SALOON,
In rear ot the Post Office, Port R'lyal, S. C.
PETER FITZGERALD respectfully informs his old
friends, and the public in general, that since Oysters
are out of season for a time., his Daily Patrons canfiud
a good substitute iu CLAMS, cooked to order, in every
style, at the shortest notice. He has also a constant
FRESH MEATS, POULTRY’, FISH & VEGETABLES,
From the North and other places in this vicinity.
Meals cooked to order at any hour during the’day.
Our motto is to “Live well."
PETER FITZGERALD, Proprietor.
M, SCARBROUGH & CO.,
GROCERY AND COMMISSION MERCHANTS,
140 Congress and 57 St. Juliann Streets,
Offer for sale,
AT WHOLESALE AND RETAIL,
A LARGE STOCK of GROCERIES and PROVISIONS,
TEAS and SUGARS, best brands; COFFEE; CAN
DLES, SOAP, FLOUR, HAMS, BACON, (Shoulder
and Clear Sides}; LEAF LARD, CORN MEAL,
CAN PEACHES, PIE FRUITS and PRE
SERVES, PEPPER, SPICE, GINGER,
<fee., &c., &e.,
All o( which they are seliiug at reduced prices. Give
them a call before purchasing elsewhere.
JJILTON & RANDELL,
193 BAY STREET, NEAR BARNARD,
SAVANNAH, GEORGIA. ,
Will be in constant receipt, per Steamers from New
York, of an extensive and complete assortment of
Goods consisting, in part, of
SUGARS, SYRUP, MOLASSES,
FLOUR, TEAS, COFFEE,
BUTTER, CHEESE, ' LARD,
SOAPS, STARCH,-. CANDLES.
WINES, ALE' ' CIDER,
ETC., ETC., ETC.
To which they call the attention of the Trade.
PER STEAMER CATHARINE WIUTINO,
600 BBLS. EXTRA FAMILY FLOUR, R. H.
For sale at low rates, by
GADEN & UNCKLES,
Ju3-lw Corner Bay and Barnard streets.
FOUR IIHDB. BALTIMORE BACON,
For sale by
BRIGHAM, BALDWIN & CO.
mays ts .
JP Olt T ROYAL HOUSE,
HILTON HEAD, S. C.
RIDDELL & RUOG, Proprietors.
E. S. EIDI>KLI„ s*. F. HUGO.
p U L A SK 1 HOUSE,
BARTELS & RIDDELL, r»or*moi».
*. O. JiABTEI.S. *• * ,DMXI “
SAVANNAH, GA., FRIDAY, JUNE 9, 1865.
A LEtTI’RF, ON THE UEGVLATIOV
OF THE CURRENCY.
By T. F. McGrevv, of Springfield, Ohio.
[Published iu the May number of the Bank
NUMBER HI. *
The due regulation of the currency is of
the highest importance at this time, when we
are about revising the monetary system.
Congress, at its next session, will be compell
ed to adopt some stable plan to avoid the
evils with which We have been visited since
the destruction of the United States bank.
The discussion ol principles is absolutely ne
cessary to fix the land marks on this subject.
Iu such an investigation what is best omitted
to be doivs is of more importance, perhaps,
that what is accomplished. Excessive regu
lation is worse than the absence of all regu
Following the course of Mr. MtGrew’s lec
ture, we have discussed the two opposite the
ories which have found advocates in England,
and some of wiiose view’s have beeu embo
died in acts of Parliament. Sir Robert Peel
thought he had found Uie true remedy for
excessive issues by the Bauk of England, and
a complete protection to the convertibility of
its notes, yet in three years after the act of
1844, the government was compelled to sus
pend its operations, to save the mercantile
classes from bankruptcy, and the hank itself
from the evil consequences of suspension.
In the financial crisis of 1857, the act was
again suspended, we believe, by an order of
The theory of the act of 1844 is founded
on an assumption. It takes for granted that
the principal source ot the abuse of credit is
found in the over-issues of bauk notes, while
■they play only a subordinate part iu the ma
chinery of credit. It is to the agency of hills
of exchange and hook credits we are to look
principally for those disturbances by w’hich
prices are unsettled.
Now, assuming that the abuse of the privi
lege of issue is the origin mainly .of these
derangements, it led to the practical inference
that to limit the issues of the Bank of Eng
land was to prevent their recurrence. For
this purpose an arbitrary sum was fixed be
yond which the bauk was not permitted to
extend accommodation, by an issue of its
notes under any degree of pressure for money.
That sum w T as fourteen millions sterling,
the amount due the hank by the government
which has been long since expended. This
restriction amounted to excessive regulation.
An opposite theory prevails among an in
fluential class in England. They are opposed
to all regulation whatever. They contend
that unless there is an increased demand for
bauk issues they cannot be made—that in the
words of Mr. McGrew, “the amount of their
notes ia exclusively regulated by the extent
of local dealings aud expenditures iu their
respective districts, fluctuating with the fluc
tuations of the productions and prices, and
that they neither can increase their issues
beyond the limit which the range of such
dealings and expenditures prescribes, without
the certainty of having their notes immedi
ately returned to them, hut an almost equal
certainty of the vacancy being filled up
from some other source.”
The practical conclusion from this view is
that tlio regulation of the currency is no
part of the duty of government, aud that
the regulating power is the action of the pub
Now, it is true that it convertible paper
currency is regulated in the manner here des
cribed—that banks are passive instruments
in the hands ot the public; yet it is also true
that banks, during a period of speculative ex
citement, do abuse their power of issue.—
During such a period commercial transac
tions are much extended, credit is expanded,
and engagements are greatly multiplied.—
Banks sympathizing with the public at such
periods readily answer the demand on them
for accommodation, and their issues exceed a
safe limit, so as to endanger the convertibility
of their notes. The true policy of banks, in
such a condition of things, is that of passive
ness, so 99 not to nurse speculation, hut
when the recoil comes, as come it sofni must,
they should act as a support to public credit
by a moderate issue of their notes, to arrest
the fall of prices, the sacrifice of property,
and commercial bankruptcy.
Whether the power of issuing notes ad
libitum may be left in the discretion of a board
of directors, may admit of question, but sure
we are that the imposition of a maximum, un
der all circumstances, is attended with much
more risk to commercial credit than the ex
ercise of a sound discretion by a body of men
who as merchants and bankers have a com
mon interest with the mercantile classes ?
The question is, therefore, narrowed down to
a choice of evils. Would there be mure haz
ard from reposing a Regulating power over
the currency in a central institution, like the
Bank of England, than to give that power of
regulation to government ? We are of opin
ion that a system of restriction is adverse to
the public good—that Banking should be left
as nearly as possible to the action of tbc pub
lic. and not to the action of government, with
; ' * ~ 4i '->'- ; ® ***•
this limitation, that the note holder under any
sys'em that may he adopted should be fully
These remarks are only applicable to a
redeemable paper currency. Paper money
issued by government aud made legal ten
der, stands ou a different footing. The issues
of hanks are founded on some actual transac
tion in trade or some commercial operation;
the paper issues of government have no other
basis than its wants of necessities. This is
the essential difference between a govern
ment paper money, not convertible into spe
cie, aud the issues of bank redeemable in coin
—the latter represents value of some kiud —
the former doe 9 not.
The question whether or not pafkcr curren
cy raises prices admits of easy solution,
keeping in view this difference. There is a
near limit to the over- issues of banks, aud
the consequent rise of prices. The efflux of
the precious metals soon admonishes banks
that they haye passed the proper limit. There
being no such obligation on the part of gov
ernment, the rise of prices is inevitable, and
often without limit.
There is no principle of limitation to gov
ernment paper money unless it is found ia
some artificial contrivance/ A government,
paper money can be made to circulate at par
with gold if its amount is so limited as not .to
excee'd the public revenue, and is receivable
for taxes. Let us suppose that tho sum re
quired for the current expenditure, and the
interest of the public debt to be three hun
dred millions of dollars. If no more than
this sum is issued, there will he no deprecia
tion, for the demand for the payment of
taxes will absorb the notes and prevent de
The objection to this form of public credit
is the temptation to over issue, especially
during war, hut it should be a part of the
fiscal legislation sos the country for every
dollar of paper money issued there should
he provided, in addition to the sum required
for current expenditure and the payment of
interest, an amount of taxes equal to the
amount issued. There, then, could be no
possibility of over issue and dspreciation. A
government paper money thus restricted
could become a part of the permanent fiscal
arrangements of the country. That W’hich
has hitherto beeu a source of evil may he
converled into a source of public benefit.
Such an issue could he made a permanent
debt as are the English Exchequer hills,
w’hich constitute a part of the debt of
England of great convenience both to the
government and the moneyed and mercantile
The British Exchequer hills are issued iu
anticipation of the payment of the taxes, so
as to relieve the money market of any undue
pressure from tbs withdrawal from circula
tion of large sums paid into the Treasury for
revenue. Without, this resource of Exche
quer bills there would be a contraction of the
currency of much inconvenience. The Bank
of England distributes these Exchequer bills
to parties who need them for mercantile pur
poses, while they afford the means of tem
porary investment to those who have capital
unemployed. And this brings as to the sys
tem of National hanks recently adopted by
Congress, the consideration of which we will
make the subject of another article.
[to be continued.]
SAY’INOS OF JOSH BILLINGS.
God bless the pironeers—the whole ov them
—inkluding the man who fust rode a mule.
Hiz name waz Sticktasst, he will bo remem
bered az long az black wax will be; hiz poz
terity have aul bin good stickers, sum ov the
best clothes-pius the wurld ever saw, cum
from this familee— I remember Olde Bulfa
loo. He waz a sunsett piroueer; he started
tew discover, “out west,” 40 years ago, hiz
property waz a wife, with the side ake, 2
galls, just busting thru their clothes into wo
manhood, 2 boys, who kould kill a skunk at
3 paces, and dodge the smell, a one-hoss wag
ging, a rifle, and a brass kittle; he squat at
Rock river, in the Illinoise, for G months, and
then moved on morewestly, the last that
ware seen ov him, was the hind-board
ov hiz wagging, just doubling the top
ov the rocky mountins And there
waz Beltrigging, who fust diskovered the
tempranse question, he had bin a suekeess
till rumdrinker, and seller, for 3G years, and
had retired with a pile; he diskovered kold
water, one day, one the back side ov hiz
farm, digging out foxes; he lektured nex
day, in a 7-day babtiss church, and told his
xperiense; he made 13 hundred dollars lek
turing, and died 9 years afterwards, in grate
agony, having drank 4 drops ov trench
braudee, on a lump ov brown .sugar, bi mis
take. He begot Springwater, and Spriug
water begot Rainwatei, and Rainwater bt
fot Dewdrop, and Dewdrop begot Moruing
li9t, owl ov them selebrated tempranse
lekturers And there waz
Solomon Saw-Dust, the author ov
bran-bred, and nailrod-soup; he waz a cham
pion ov lite weights ; he fit the dispepshee in
aul its forms; he lived for 18 months, at one
heat, on the smell ova red herring, and
gained 9 pounds in wind. He bad menny
admirers, and immitaturs, the most grate ov
which was Wet Pack and Water Kure
And there was Mebitabel Saffron, the virgin
hero ov wimmin’s righl9; i herd her fust
orashun, in the town ball; she spoke without
notes, at arms’ length. She ced, “woman
had a destiny that man kouldn t fill for
her, and az for her, she could go it alone.
PRICE, 5 CENTS
she didn’t want no hc-critter around her,
she had on a pair of kowhide pegged boots!
and closed up hi holding hi in the air, a pair
ov corderoy breeches, which she swore bi
the good Old Mozes, was awl enny man had
to brag over She waz the fust pironeer
in the corduroy britches bizzness, she died
celibiate, and haz had menny followers
amuug her sex, but none that had thejism
she had And then tliare waz Old
Perpetual ; he got crazee at last, but not till
he had invented a pitch-nine dog, with a
bass-wood tail, that would hark and chase
every wagging that cum along, clean down
tew’ the bridge over beau kreek. He got out
a patient for a sorrel horse, and auu milch
cow, anti lived till he waz 90 years olde, and
then died from a kold he had caught, doun
seller, trieing tew make soft sope out of
hull’s liver. On biz grave stun waz these
attektiog paragratf: “State, and county
rights for sale, euquire ov —— the widder.”
THE ASSASSINS AND THEIR ACCES
The Washington correspondent of the New
York World gives the following list of per
sons who are under arrest and likely to be
convicted for direct participation within the
1. Spaugler, the stage carpenter of Ford’s
Theatre, will most probably suffer the ex -
treme penalty of the law.
2. “Sam” Arnold, of Baltimore, better
known as the author of a letter signed ‘Sam’
who undertook the plot and agreed to it,
aud hacked out in the end because of bis
failing courage, will also suffer death. lie
was a conspirator, but not bold enough to he
3. Captain Willie Jett, found at Bowling
Green, who took Booth behind him on his
horse, thus facilitating hi 9 escape, will run a
close chauce for his neck. He eithei did or
did not recognize |in Booth the assassin, hut
it he did, wotf to him !
4. Atzereth or Azerodt, but whose name
in bis own execrable chirography is copied
from the registry at Kirkwood’s Hotel as G.
A. Abzerodt, Charles county, Md., 12 B, will
bq hung positively. He is a murderer by in
stinct and temperament. His face is a stand
5. Mrs, Surratt will suffer the full penalty
attached to her crime. As Booth was the
master, so was she the mistress conspirator,
She is hold and cruel, aud deserves to die.
6. McLaughlin, a friend and Confederate of
Booth, will die for conspiracy without cour
7. Dr. Mqdd, residing near Bryantown,
may suffer death for his timidity. He set
Booth’s leg on Saturday morning, and never
mentioned it till Suuday night. He may not
have recognized Booth, and may not, as he
says, have heard of the murder. But he
has been a stern secessionist, and a life in
surance policy at present would cost him the
revenue of his country.
8. John Lloyd will certainly die. He kept
Mrs. Surratt’s hotel at Surrattsville; secreted
aud furnished the two assassins with carbines,
aud although positively aware of the conspira
cy before, and the crime immediately after its
execution he held its tougue.
9. Sara. Coxer, or#“Captaip” Sam. Coxe,
lives between Scylla and Charybdis. He con
cealed and fed Booth, probably knowing his
hands to lie 9tained with blood. He has al
ready suffered execution in his horrible fore
10. Young Harold, who stood with Booth
in the all-memorable barn, and shured his
flight, and was his guide and servant, will
die despite a hundred pleas of dementia or
11. John Surratt, if caught at all, will suf
fer death. lie shared the horrible secret of
meditated crime, and should, with his moth
er, meet the reward of murder,
12. Payne or Wood, the desperate assas
sin of Mr. Seward, who was taken at Mrs.
Surratt 9 house, and who was a hired-cut
throat, will die beyond peradventure.
13. Mr and Mrs. Adams, of Newport;
these, it is believed, knew Booth, and assist
ed hint. i
14. Mr. Wilson, of Newport; he did not
assist justice, although cognizant of the crime.
The Emckess Eugenie’s Letfer to Mrs.
Lincoln. —On inqniiy at the State Depart
ment, I learn that there is no truth whatever
in the Tribune’s statement that M. de Mon
thnlou, the Frencli minister, has had the
Empress Eugenie’s letter of condolence to
Mi-3. Lincoln “for some time in his posses
sion without delivering it.” The letter in
question was delivered to the Acting Secre- •
tary ofState, Mr. Hunter,more than ten days
ago, immediately upon its receipt. Mrs.
Lincoln s reply when received will be trans
mitted in like manner to the Empress, whose
letter, like that of Queen Victoria’s, express
es in terms of graceful and womanly sym
pathy the unanimous feeling of all civilized
people on bearing of the savage act of the
14th of April. — Wash. Cor.
A despatch lrom Newbern, N. C., says
that the former wealthy citizens of that city,
who are now returning home alter an absence
of nearly tour years, are received and enter
tained in the most hospitable mauuer by
their former servants, who Lot only relieve
the wants of the needy, but furnish them
with money to pay their taxes. The return of
Mr. Holden from Washington is looked for
with a great deal of interest, and the people
are anxious to know what the policy of the
government will be toward the State.
Says the Louisville Journal: “We under
stand that the negro population of Louisville
and vicinity propose to celebrate the ap
proaching Fourth of July in grand style.—
The celebrated colored orator, Fred Douglass,
has been invited, and will be present to ad
dress the assembled multitude. Lookout
for a dark cloud on the Fourth.”
Considerable dissatisfaction prevails among
the one-year Pennsylvania troops, at the
order of the Secretary of War, reducing the
bounties of such organizations twenty-five
per cent. The State authorities are increas
ing their exertions to have this order rescind
ed, and secure for the one year’s troops the
original amount of money to which they con
sider themselves entitled.
On the sth of May the ministerial offices,
government archives and employees at Turin
were all transferred to Florence, the new
capital of the kingdom of Ita v.