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Savannah daily herald. (Savannah, Ga.) 1865-1866, June 10, 1865, Image 1

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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*