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SAVANNAH DAILY HERALD.
VOL. l-N0.,124.
The Savannah Daily Herald
(MORNING AND EVENING)
IS PCIILIBHKD UY
O. W. MAHON A CO..
At 111 Bay Stkiet, Savannah, Georgia,
thus:
Per Copy Five Cents.
Per Hundred $3 60.
Per Year . $lO 00.
advertising:
Two Dollars per Square of Ten Lines for first in
sertion ; One Dollar for each subsequent one. Ad
vertisements inserted in the morning, will, if desired,
appear in the evening without extra charge.
JOB PRINTING,
In every style, neatly and promptly done.
justness
M BRUCE.
‘DEALER EXCLUSIVELY IN COTTON.
—AND
FOREIGN AND DOMESTIC EXCHANGE,
AUGUSTA, GA.
The undersigned has made every arrangement to
resume his commercial pursuits so soon as trade res
frictions are removed. I will bo prepared to receive,
store, insure, compress, ship, sell or 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
fullest information.
E. M. BRUCE.
I refer to Merchants generally throughout the U. 8.
and to Members of Congress. ' ju3-Kt
Q.ADEN & UNCKLES.
GENERAL PRODUCE AND COMMISSION MER
CHANTS, AND WHOLESALE DEALERS
—IN
GROCERIES, PROVISIONS. &c.,
CORNER OF MAY AND JBABNARD STREETS,
SAVANNAH, GA.
Highest market rates paid for Cotton, W 001, Hides
Ac., and liberal cash advances made on shipments to
our New York house, jo3-lm
AGENTS FOR ISRAEL R. SEALY,
Wholesale Dealers In
ALES, WINES andIMPORTED LIQUORS,
Os all Kinds and Qualities.
No. 6, MERCHANTS* ROW,
Hilton Head, S. C
jnnel lmo
JMPORTED A NDDOMEST 1C
WINESAND LIQUORS,
AT WHOLESALE, FOR FAMILY GSR,
AT 207 BAY STREET.
ISRAEL R. SEALY & CO.
may24-tf
SEVILLE & LEA^ h >
BOOKSELLERS AND STATIONERS.
MERCHANTS’ ROW,
HILTON HEAD* S. C.,
—AND—
CORNER ÜBYAN STREET AND MARKET SQUARE,
SAVANNAH, GA.
mav3o ts
JjMUVIN & HARDEE,
FACTORS AND COMMISSION MERCHANTS,
hay street-,
SAVANNAH, GEORGIA.
Robert Erwin, Ciias. S. Hardee,
may3l-eod2m
jpEWIS L. JONES,
SHIFTING AND COMMISSION MERCHANT,
iVo 17 Broadway, Xew York.
Liberal advances on Shipments to above Consign
ment, made by
HUNTER & GAMMELL,
Agents Pioneer Line Steamships,
S4 Buy Street, Savannah.
Reference in New York—
Messrs. Sfoffobd, Tii.kston & Cos.
may2o
QHARLES L. COLBY & CO.
SHIPPING, COMMISSION AND FORWARDING
MERCHANTS.
JONES CLOCK, CORNfiB CAY AND AUERCOBN STREETS,
SAVANNAH, GA.
LIBERAL CASH ADVANCES
Made on Consignments to the firm of Chab. L. Colby,
of New TKirk, or to our friends in Boston.
A. H. HOLWAY, Resident Partner.
references;
Messrs. Dabney, Morgan «fe Cos., New York.
Jarivs Slade, Esq., New York.
Hon. J Wiley Edmunds, Boston.
Gardner Colby, Esq., Bostou. maylß—tf
OTKELE & BURBANK,
O 11 Merchants' Row,
Hilton Head, 8. C.
Call the attention of Wholesale and Retail purchasers
to their superior stock of
MILITARY AND NAVAL CLOTHING
AND
FURNISHING GOODS,
Watches, Clocks, Fancy Goods, Jewelry, and Plated
Ware, Swords, Sashes, Beits, Embroideries,Boots, Cups
Fi Glasses, Gauntlets Gloves. Ac., &c„ Ac.
PARTNERSHIP,
The undersigned have this day formed a co-partner
ship under the firm name of Charles L. Colby & Cos ,
for the transaction of business as Shipping, Cominis
sion and Forwarding Merchants.
CHARLES L. COLBY,
ALEXANDER H. HOLWAY,
S.PAGK EDMANDS.
Savannah. Ga., May 10th, 1805. ts maylT
Bakery & confectionery establish
ment AT BEAUFORT.
We respectfully call the attention of the public to
ouT Bakery <ft Confectionery Establishment in Sam.
A. Cooley’s l)nikling at Bmiufort, ut which we are
prepared promptly to till any orders which may be for
warded to us. Special attention is paid to the man
utacture of Ornamental Pieces, Fancy Confectionery,
and Elegant Pastry, for holiday ors estival tables,
Feb. 3-ts McMANUS A MURRAY.
YORK HERALD CORRESPONDENT.
The office of the New York Herald Coirespondent
Js at
111 BAY STREET,
W STAIRS,
inor22 ts
SAVANNAH, GA., SATURDAY, JUNE 10, 1865.
Rtstauranfs, S-c,
\Y E ST,I L LIVE
V —at
THE ‘‘OFFICE, ••
No. IX Merchant’s Row,
PORT ROYAL, S. C.
I do not advertise my Bill of Fare because it is alter
ed every day and r > nnted Bill of Fare is put on each
table every morning.
THERE IS WHERE THE LAUGH COMES IN.
My Ice Houses are now 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 now on hand about’twelve hundred p minds
of Ice, so that I can make Ice Cream EVERY DAY
and keep my Soda Water and Beer cool.
IOE WATER FOR EVERY BODY.
THERE IS WHERE THE LAUGH COMES IN.
a, I have three Punkahs and several girls with fans to
keep the flies trom the ladies und gentlemen while
eating their cleanly served up meals.
THERE IS WHERE THE LAUGH COMES IN.
My Cooks, Waiters, Ac., are all clean. My Saloon
has been newly papered, painted, whitewashed, &c.
THERE IS WHERE THE LAUGH 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 can get their whiskey for three cents
per glass. But you will find that GENTLLE MEN will
go where tfcoy get the best articles regardless of ex
pense.
AND THAT IS WHERE THE LAUGH COMES IN.
HONEY IS UP AND SUGAR IS DOWN.
BENJAMIN HONEY,
Proprietor
Q\. LAMS! CLAMS! CLAMS!
IN TUE 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
TUE EAGLE SALOON,
In rear ol the Post Office, Port Royal, S. C.
PETER FITZGERALD respectfully'informs his old
friends, and the public in general, that since Oysters
are out of season for a time., bis Daily Patrons can flud
u good substitute in CLAMS, cooked to order, in every
style, fit the shortest notice. He has also a constant
supply of
FRESH MEATS, POULTRY, FISH & VEGETABLES,
From the North and other places in this vicinity.
Meala cooked to order at any hour during the day.
Our motto is to ‘'Live well.”
PETER FITZGERALD, Proprietor.
may 23 ts _
■JJNITED STATES
SEVEN-THIRTY LOAN.
THIRD SERIES,
TWO HUNDRED and THIRTY MILLION DOLLARS.
By authority of the Secretary of the Treasury, the
undersigned, the General Subscription Agent for the
sale of United States Securities, offers to the public the
third series of Treasury Notes, bearing seven and
three-tenths per cent, interest per annum, known as
the
SEVEN-THIRTY LOAN.
These notes are issued under date of July 15,1565,
and are payable three years from that date in curren
cy, or are convertible at the option of the holder into
U. S. FIVE-TWENTY SIX PER CENT.
GOLD-BEARING BONDS.
These Bonds are now worth a handsome premium, l
and are exempt, as are all the Government Bonds,
from State, County, and Municipal taxation, tchich adgx
from one to three per cent, per annum to their vulue, ac
cording to the rate levied upon other property. The
interest is payable semi-annually by coupons attached
to each note, which may be cut off and sold to any
bank or banker.
The interest ut 7.30 per cent, amounts to
One cent per day on a SSO note.
Two cents per day on a sloo note.
Ten cents per day on a SSOO note.
Twenty cents per day on a SI,OOO note.
One Dollar per day on a $5,000 note.
Notes of all the denominations named will be prompt
ly furnished upon receipt of subscriptions.
The Notes of this Third Series are precisely similai
in form and privileges to the Seven-Thirties already
sold, except that the Government reserves to itself the
option of paying interest in gold coin at 0 per cent, in
stead of C 3-10ths in currency. Subscribers will deduct
the interest in eurrencyupto July 15th, at the time
when they subscribe.
The delivery of the notes of this third series of the
Seven-thirties will commence on the Ist of June, and
will be made promptly and continuously after that
date.
The slight change made in the conditions of this
THIRD SERIES affects only the matter of interest,
The payment in gold, ts made, will be equivalent to
the currency interest of the higher rate.
The return to specie payments, in the event of which
only will the option to pay the interest in Gold be avail
ed of, wonid so reduce and equalise prices- that pur
chases made with six per cent, in gold would be fully
equal to those made with seven and three-tenths per
cent, in currency. This is
THE ONLY LOAN IN MARKET
Now offered by the Government, and its superior ad
vantages make it the
GREAT POPULAR LOAN OF THE PEOPLE.
Less than $230,000,000 of the Loan authorized by
Cougress are now on the market. This amount, at the
rate at which it is being absorbed, will all be subscrib
ed for within sixty days, when the notes will undoubt
edly command a premium, as has uniformly been the
case on dosing the subscriptions to other Loans.
In order that citizens of every town and section of
the country may be oflorded facilities for taking the
Loan, the National Banks, State Banks, and Private
•Bankers throughout the country have generally a; reed
to receive subscriptions at par. Subscribers will select
their own agents, in whom they have confidence, and
who only are to be responsible for the delivery of the
notes for which they receive orders. ,
JAY COOKE, Subscription Agent,
No. 114 South Third Street, Philadelphia.
may26-16t \ ko
A LECTURE ON THE REGULATION
OK TUB CURRENCY.
By T. F. McQfiEw, of Springfield, Ohio.
[Published in May number of the Bank
ers’ Magazine]
SWMBKR IV.
The order of o|r investigation has brought
us to the consideration of the system of Nat ion
al banks, made absolutely necessary by the
general suspension of specie payments by the
local bauks at the commencement of the war,
and the want of a circulating medium both
for private and public purposes. Two plans
lay ready for adoption i. e., a government
bauk, such as the former United States
bank, or a system of National banks such
as has been adopted. We think Congress
has decided wisely. The system of State
banks never can be revived in the United
States, nor is'it desirable that it should be
revived. The chartering of bauks by the
Legislatures of tlxe States is an usurpation of
power. It in effect, if nothin a technical sense,
violates that clause of the Constitution that
prohibits the Stales from issuing “bills of
credit.” Bank notes constitute money to all
intents and purposes, although deuied to pos
sess this function by scientific writers.—
Against the revival of any scheme for the
regulation of the currency, by means of a
National bank, there is a clearly pronouuced
public opinion. The political abuse of such
an institution—its agency in previous elec
tions—its large means of corruption—forbid
the idea of the revival of such a fiscal agen
cy. The only alternative, it appears to us,
was the creatiQn of some such system as that
of the National banks.
,Tlie feature that strikes us in this system,
as of special value, is that of compelling all
the bauks organized under it to give securily
for their issues by a pledge of public stocks.
The first consideration in devising a scheme
of banking is the protection of the note liold
der. He is the most exposed to fraud by
abuse of banking privileges, and requires the
protection of the government. The deposi
tor stands on entirely a different footing.
From the facilities of information he pos
sesses, he can determine the degree of credit
to which banks are entitled. But besides
this consideration, it is the deposits which
are the source of mischief in banking. The
deposits of the Bauk of Englund have fre
quently placed that institution iu jeopardy.
It was the magnitude of the deposits in the
New York banks that caused their suspen
sion and the suspension of all the
banks in 1857.
£The principle is not a novel one ia the Uui
ted States. It is the basis of the New York
system of free banking, and supplements the
English principle of individual liability as the
source of security against the geueral abuse
of banking, by that corporate of liability,
as a protection to the note-holder. Section
12 of the act makes the share-holder person
ally liable to twice the amount of his shares,
thus combining individual with corporate lia
bility.
There are, however, some serious defects
iu the act that require amendment, if we
escape one ot the evils of the Bank of the
United States, i. e. political influence. The
54th section authorizes the Secretary of tjie
Treasury whenever, iu his judgment, the pub
lic iuterest will be promoted thereby to em
ploy any of the associations doing business
under the act as depositaries of the public
money. Under this section, what is to pre
vent the revival of the pet bank system?
What is to preclude favoritism in making
certain favored institutions the depositaries
of the public money ?
Another of the defects of the act is that
it does not provide for a central par redemp
tion. Such a central poiut for the redemp
tion of the bills of the associated banks will
be found essential to the harmonious work
ing of the act, in preserving the uniformity
of the currency. New York would be that
central point, standing in the same relation
to the rest of the Union as Loudon
does to the other portions of the United
Kidgdom, or as Boston does to the rest of
New England, as manifested by the general
consent to make the Suffolk bank the point
of redemption. With these amendments
the act establishing the National banks
will be found, we presume, as near an pa
proacb to a perfect system for regulating the
currency as can be adopted.
RECAPITULATION.
To those who have not bad the patience
or leisure to follow us in the course of this
investigation, we would recapitulate the
heads of our reasoning.
1. Asa preliminary poiut, our inquiry
was directed to the definition and functions
of paper money. We have shown on the
authority of the most distinguished names in
political economy, John Stuart Mill, Tooke,
Chezatier, Gamier, McCulloch, and Hus
kisson, that nothing can be called money
that has not intrinsic value, and that the
definition of some late economists who have
described money to be “anything that effects
exchange of commodities”—is deficient in
exactness. This definition has been adopt
ed by the editor of Hunt’s Merchant's Maga-
zinc, who says, “All the loans which are
applicable to wlmt is popularly known as
money (specie and bank notes) are alike ap
plicable to anything that effects exchanges—
to bank notes, to promissory notes, to bills of
exchange, to book credits, even to the ten
penny nails and potatoes which were used for
this purpose in some parts of the South dur
ing the 1 st year or two. *
2. That Bank notes have a very limited
influence in raising prices compared with
other forms of credit, such as bills of ex
change, checks drawn against deposits, bpok
debts «Src. As evidence of this, Mr. Tooke in
his “History of Prices” showed that while
prices had risen at various periods Bank of
England notes had lessened in amount, and
vice overset, that when prices had fallen the
volume of Bank of England notes had l>een
increased, and that there was no necessary
connection between prices and the quantity
of circulating medium, pi ices depending on
the relation of demand to supply as regards
commodities.
3. That there is occasionally and subordi-
a rise of prices during a period of
speculative excitement from an increase ol
bank notes, banks being acted on by public
opinion on such occasions and acting in sym
pathy with it, but that the principal agency
in the extension of commercial credit and the
advance of prices is due to those other forms
ot credit i. e. bills of exchange, bank credits,
&c.
4. That as a government paper money is
not based on auv mercantile transaction, and
does not represent value of any kind, there
is no other limit to its over issue but the
wants or necessities of the public, while there
is iu the case of bank notes a mar limit to
such over-issue in the efflux of the precious
metals admonishing banks, that they have
passed the proper limit, creating a wide dis
tinction between bank issues and government
issues of paper money.
4. That as a corollary from these views
as banks are influenced in their proceedings
by the action of the public, there should be
no restriction on them as regards their issues,
loans and discounts—freedom of action
should be the rule and restriction the excep
tion. The exception arises where the gov
ernment is compelled to resort to paper mo
ney, and has no other restraint as to is
sues, except the public wants. In such case
restriction becomes necessary.
5. That this brings us to the consideration
of the system of natioual banks recently or
ganized, under which the amount of their
issues is limited to three hundred millions? ot
dollars.
5. That as the local bauks suspended
specie payments at the.commencement of the
war, and a circulating medium became ab
solutely necessary, and as public opiuiou had
been strongly pronounced against the revival
of aßank of the United States,there remained
no other alternative Rian the adoption of
some such system to supply a currency and
reglate it as that of the national bauks ; and,
6. That the act organizing this association
of banks requires amendment in at least two
particulars: 1, In authorizing the Secretary
of the Treasury todeposit the public funds
in such of those institutions as he may se-‘
lect, which would lead to the revival of the
obnoxious pet bank system ; 2, In not pro
viding some central point of clearing for the
associated banks, by which the balances be
tween them could be adjusted aud uniformity
preserved as regards their issues iu relation
to each other, as well as between the
different sections of the Uniou. ***
Surplus of Females in Massachusetts.
—Apropos of Gov. Andrew’s proposition pro
viding for the emigration of the surplus fe
male population of Massachusetts to the
Pacific States he has received the following
letter from an unexpected quarter:
Provo City Utah Co.,JJtah)
Territory, March the 20th, 18(5T>. )
Dear Sir : — I noticed in the Telegraph of
March the 2th that your Excellency in your
Message tells the Legislator of Massachu
setts that there is in that State a surplus of
nearly 30,000 Woman; —above the age of
fifteen years:—and that you Recommend
that they be sent towards the Setting Sun to
pick up husbands thrat is wright.
You will please Send on five or Six Ship
loads: by the way of Panama:—and up the
Cost of the Pacific; through the Gulf of
California to Callo ; landing on the Rio Col
orado :—we will meet them there with our
teams and wagons; and bring them here
to a land of peace—a land of plenty—where
the population are of one hart and one mind;
and they shall all have good husbands.
But Sir, Remember that we want none
but the hoaest in heart:—those that are
Strictly virtuous industrious ; please Send us
a few Ship loads of those With their little
ones and we will make them happy; for
here is Zion in the Mountains.
I have the Same Number of Sons; that
father Jacob had ten of them want wives
now: and the other two will want Soon : this
from a yaukee Exiled from his home and the
tooms of his fathers:—to wander in the Wil
derness. * * * ■ *
To his Excellency Governor Andrews.
The Army of the Tennessee, commanded
by Major General John A. Logan, will retain
its organization and be recruited to ks old
strength by assignment of veteran troops
from disbanded corps and armies. It is be •
lieved this army will be sent to the trans-
Mississippi Department.
PRICE. 5 CENTS
Persoual HtminUctitrei at Abraham
Lincoln.
(From the Sau Francisco Bnlletin.)
When I commenced writing these commij.
nicalions, I intended, as the caption of them,
“Personal Reminiscences,” indicates, to make
them more particularly than I have made
them of a personal character. Since I have
commenced I have convinced myself of the
impropriety of doing so. Others who have
known him in different phases of his life will,
it is probable, portray him in his attractive
lights and shades, in wider compass than a
public newspaper can afford. Especially* it
is hoped that Col. Hay, his private secretary,
a gentleman of literary attainments, will fa
vor his countrymen with such touches of the
great President’s private life in the W hite,
as may becomingly be made public It only
remains for me to revert to his social dispo
sition as exhibited on the circuit.
He was always “Uncle Abe,” with us. Al
ways the otf-lmnd, glowing, genial, earnest
aud hearty “Uncle Abe” in the threadbare
swallow-tail coat. Always . “Uncle Abe”
with his clean-shaven face, hollow cheeks,
long mouth, large hands and big heart. Al
ways “Uncle Abe,” the favorite of bench and
bar, juries and court officers, s clients and
spectators, citizens aud strangers, rich and
poor. His practice was large, but, as I havu
said before, not lucrative. He Btood pre
eminently head and shoulders in ability, as
almost in physical proportions, -as a jury
lawyer, above any other practitioner among
us. Sometimes in civil cases he received
large fees, of course ; but generally small
ones, aud frequently none at all, for defend
ing some poor wretch arraigned for crime.
Cases that no other attorney would take, if
fees were not forthcoming, he would, if he
was convinced of the justice, or even
doubt, of the case. The poor knew it, and
perhaps imposed, occasionally, upon his gen
erous nature. If they did, and he ascertain
ed the fact, he never betrayed any auuoy
ance, but defended his own act with a pleas
antry. Attorneys might sometimes attempt
to take unfair advantage of an important
technicality of the law against him, or dis
tort the favorable evidence of his witness ;
but if he did, his apt joke counteracted the
influence the attempt might othetwise have
made, and biought the laugh of the Court
aud spectators heavily against them. Dry
cases were often tried ; and then, especially
on hot summer afternoons, jurors and even
the Court, who was somewhat corpulent,
would drowse ; but as his long figure rose,
when his turn came to address them, they
would rouse themselves to listen ; and as he
closed his argument, jurors and spectators,
hoarse with repeated and continued peals of
laughter, would whisper audibly to him to
“go ou !”
At the festive gathering, commonly a
whist-party, at the close of the term, he was
generally present. More-than onfce on such
occasions, have I received him at my own
residence. He would enter the rooms,
whether ladies were present or not, without
an appearance of ceremony, and with the
same expression of off-hand, natural and
joyous good nature that characterized his
entrance into the court-room, an office, or a
store. *There were few in that part of the
country who did not play at cams, but he
was one of the few. There were few who
did not indulge in the glass—at least in wino
—and he was one of that few also. Others
would sit at tables and play and sip. He
would pass round from table to table, with a
jest here, a story, until, as Judge Powell, with
hiAinfinite humor, and Judge Purple, with his
fine wit, unable to resist the influence, joined
him, the party, one after another, would be
diverted from the cards, and a night of other
enjoyment would commence. Reminiscences
of the old settlers of the State ; amusing
sketches of some that had become popular—
of the eccentric Governors Reynolds and
Fold, for instance; stories concerning the
Black Hawk war and ils heroes, of whom
Mr. Lincoln was one; of the reception of
Stephen A. Douglas in the State, at Win
chester, by Murray McConnell; of judges
still on the bench, excluding Judge Peters, of
Peoria District, who would be absent; of
lawyers still ou the circuit, whether present
or not. With such material would then pass
away the hours until long after midnight.
There are many besides the writer, in San
Francisco, who knew Mr. Lincoln in social
life. To such, the past in which Mr. Lin
coln was concerned must seem as a delight
ful and spleudid dream. One who had known
him at the fireside, told me on the day of the
obsequies, that he could hardly yet realize
that the old Illinoisian had been Psesident—
much less that he had been so great and
popular a one. He could hardly realize that
Mr. Lincoln was not still on the circuit. And
so it is still with others.
Colors Produced from Prtroleum.—
There are several fine colors produced from
the residuum of petroleum. One manufac
tured at the Humboldt refinery, near Plum
mer, in the Oil Creek region, is a bright and
fixed cerulean blue, perhaps a shade darker,
but bfilliant, add is called the Humboldt
colpr. The process of manufacturing is kept
secret by the discoverers, who are German
chemists. No stranger is allowed to enter
' their.works, except by special permission.—
It is stated that the Humboldt Company pro
duce there colors from a combination of
naptha and tur. The refiuery uses twenty
six stills, and probably three or four hundred
barrels of petroleum per day, when running
at full capacity. Another delicate and fash
ionable color, a light blue, entitled “azar
ine,” as well as the now famous and popular
color, “magenta,’’ are now produced from
petroleum.,, A fourth, called “rosina,” is in
course of experiment. These colors are as
certained by dropping the oil in a eertafh
state into the .water, by which the most beau
tiful hues are brought out.
Queens.— Of sixty-seven queens of France,
only thirteen have died without leaving their
histories a record of misery and sin. Eleven
were divorced, two executed, nine died
young, seven were soon widowed, three
cruelly treated, three exiled; the poisoned
and broken-hearted make up the rest. The
pillow of royalty is indeed tilled with thorns;
and though crowns may look very bright,
they feel very cold, heavy, and haru.
—The best way to bring in the guerrilla*—
SU. -■ * 'V*
