Below is the OCR text representation for this newspapers page.

SATAX.N'iir DAILY HERALD. VOL. 1-ffO. 128. The Savannah Daily Herald (.MORNING AND EVENING; IB*C MASHED by O. W. MASON & CO., At HI Bat S theft, Savannah, Georgia. TEllll: Per Copy .Five Cents. Per Hundred $3 60. Per Year *lO 00, advertising': Two Dollars per Square of Ten Lines for lirst in sertion ; One Dollar lor 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, i|arbs. T R. SOLOMONS, M D. ■ m D E N T I S T F?om Charleston, S. C., offers his services to the citizens of Savannah. Rooms at Dr. Clark’s office. Congress street. References.—Dr. Jas. B. Read, Dr. J Uriah Harris, Hon SOI.OMON Cohen, W. N. Hauersoah Esq,, jull ts A. A. Solomons Sc Cos., JQENNIS, PERKINS & CO. COMMISSION MERCHANTS, No. 05 Broad Street, NEW YORK. julO lm M BKitc£: - '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 Dictions are removed. I will be prepared to receive, store, insure, compress, ship, sell or purchase Cotton, aud 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. S. and to Members of Congress. ,lu3-I2t Q.ADEN & UNCKLES. GENERAL PRODUCE AND COMMISSION MER CHANTS, AND WHOLESALE DEALERS —IN GROCERIES, PROVISIONS. Jfc c. , CORNER OF DAY AND lIABNABD STREETS, SAVANNAH, GA. Highest market rates paid for Cotton, W 001, Hides <Stc., and liberal cash advances made on shipments to our New York house, joii-lm JUIddIIL ds MURDOCK; AGENTS FOR ISRAEL R. BEALY, Wholesale Dealers in • ALES, WINES and IMPORTED LIQUORS, Os ail Kinds and Qualities. No. 6, MERCHANTS’ ROW,. Hilton Head, S. C junel lmo YmVortkd and"domestic ~ WINES AND LIQUORS, AT WHOLESALE, FOB FAMILY USE, * AT 20; BAY STREET. ISRAEL R. SEALY & CO. may24-tf * gAVILLE* LEACH, BOOKSELLERS AND STATIONERS. MERCHANTS’ ROW, HILTON HEAD, S. C., —AND— CORNER »BYAIf STREET AND MARKET SQUARE, SAVANNAH, GA x may 30 ts j~JKWiS L. JOifEB, SHIPPING AND COMMISSION MERCHANT, * No U.JDroadicai', New Vork. Liberal advances on Shipments to above Consign ment, made by * ‘ HUNTER & GAMMELL, Agents Pioneer Line Steamships, »4 Buy Street, Savannah. Reference in New York— Messrs. Spoitord, Tiijsston & Cos. may'te L. COLBY & CO. SHIPPING, COMMISSION AND FORWARDING MERCHANTS. 40NE8 liI.OCK, COEN KB JIAT AND AIIEROOBH STREETS, SAVANNAH, GA. LIBERAL CASH ADVANCES Made on Consignments to the firm of Ciias. L. Colby, of New York, or to our friends in Boston. MAUDE & WRIGHT, Agents at Augusta, Ga. imtlHC e s; Messrs. Dabney, Morgan & Cos., New-York. Jarivs Slade, Esq., New York. Hon. J \V iley Edmunds, Boston. Gardner Colby, Esq., Boston. may 18—ts QTEKLK <B BURBANK, O ii Merchants’Row, Hilton Head, S. 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, Belts, Embroideries,Boots,Caps Hi < Hasses, Gauntlets Gloves. Ac., Ac., Ac. CO-PARTNERSHIP, * Ml The undersigned have This day formed a co-partner ship under the firm name of Charles L. Coluy <fc Cos. , tin; the tran.-iaction ol business aa Shipping, Commie slot and Forwarding Merchants. CHARLES L. COLBY, ALEXANDER H. HOLWAY, S.PAGE EDMANDS. May ltith, isos. ts mayl> T>AEEK\ & CON FECTiUNERK ESTABLISH -D MENT AT BEAUFORT. * We respectfully call the attention of the public to our Bakery <S Confectionery Establishment in Sam. A. Cooley’s Building at Beaufort, at which we are Prepared promptly ta fill which may be for warded to us. Special.attention is paid to the man ulacture of Ornamental Pieces, Fancy Confectionery, and Elegant Pastry, for, haßday on' estival tables, Feb. S-ts McMANUS & MURRAY. SAVANNAH, GA., THURSDAY, JUNE 15, 1865. %c. JgOOKS AND STATIOxStY. WHOLESALE AND RETAIL, At the Old Stand of JOHN M.‘ COOPER A CO., Just Received the Largest aud Best Selected. Stock of SCHOOL BOOKS In the Southern States: consisting of Primers, Spellers, Haiders, Geographies. Arithmetics, Grammars, Greek, Latin, French. German and Spanish Text Books, and ali other Books used iu Colleges, Academies and Common Schools. STATIONERY. Siates, Pens Pencils, Ink. Foolscap, Letter and Note Paper, Envelopes, Blank Books, Ac i also have on hand a large assortment of Netv aud popular Novels by the best authors. Dickens,Reynolds, Mrs Holmes, Mrs. Woo I, Ac. I will keep constantly ou hand a large stock of el egant Photographic Albums uud Card Photographs, as wcllusa constant supply of the latest Northern Newspa pel s aud Periodicals, N. Y Daily aud Weekly Newspapers. Harper’s Magazine, Godey's Lady’s Book, Atlantic Monthly, Demurest 3 Fashions, Ac., Ac. Everything will lie sold at the very lowest figures, and special terms are offered on School Books .to Teachers aud others. I can and will sell at least as cheap as any other house In the South. ’ TERMS STRICTLY CASH Call and examine the Stock at the old stand of Joun M. Cooper a- Cos.. Cor.Whitaker and St. Julian streets, Savauuali, jja. STEPHEN FARRELLY, Bookseller and Stationer. N. B.— All orders for Miscellaneous Books, Music, or any article connected with the trade, filled at the shortest notice. The friends and patrons of the undersigned, and of the firm of John M. Cooper & Cos., are respectfully so licited to continue their patronage at the old establish ment to Mr. Farrklly. The undersigned may be found at his desk as usual, for the purpose of closing up old business affairs and rendering snch assistance as he can do Mr. F. A general Wholesale business will be established by J. M. C. & Cos., whenever practicable, upon the upper floors of the establishment. jeS lmo JOHN M. COOPER. JNTERESTING PUBLICATIONS FOR THE SOLDIER OR THE CITIZEN. THE MONTHLY NOVELLETTE, contains a Novelette complete, together with from three to eight short stories, with Illustrations. Terms: $2 per year. Single copies, 25 cents. THE AMERICAN UNION. A FIRIIBIDE JOURNAL NO CONTINUED STORIES. Thrilling Stories, Racy sketches, Stirring Adventures and Choice Home Reading. *3 a year. Four copies, *lO. THE FLAG OF OUR UNION Devoted to Tales, Sketches, Adventures Poems, News, Novellettes, &c. $4 per year. THE DOLLAR MONTHLY MAGAZINE. The cheapest magazine in the world. $1.60 a year. Seven copies, SO. Nearly one hundred pages of reading matter and illustrations. Postage only 12 cents per year. TEN CENT NOV&LLETTES. 128 pages in each book ; one-third larger than any other Dime Novel, All of the above publications will be forwarded regu larly by mail, on receipt of price, by ELLIOTT, THOMES & TALBOT, Publishers, C3 Congress street, Boston, Mass. Samples can be seen, or copies purchased, by ap plying at THE SAVANNAH HERALD STORE, 111 DAY STREET, SAVANNAH, GA. aprlS ts JJJERALD JOB PRINTING OFFICE, No. 11l Bay Street, , Savannah, Georgia. We respectfully call the attention of the public to the facilitiestwhich we have for doing all kinds of Job Printing.. NEATLY AND PROMPTLY. We have the BEST PRESS IN THE WORLD For doing a variety of work and doing it ail we We employ FIRST CLASS PRINTERS, Os long experience and tried ability. We have NEW PRINTING MATERIALS, From the best Northern ioundries, to which we a CONSTANTLY MAKING ADDITIONS We are prepared to execute orders for Posters, Placar Handbills, Programmes, Play Bills, Circulars, Bills of Fare, * Visiting Cards, Wedding Cards, Tickets, Business Cards, Letter Heads, Bill Heads, Drafts, Receipts, Checks, Passes, Labels, Constitutions, By-Laws, Pamphlets, Ballads, Legal Blanks, Calendars. Envelopes, Or any other kind of Printing, IN ANY STYLE. We have a FINE ASSORTMENT OF INKS FOB PRINTING IN COLORS. OftDUHS BY MAIL OR EXPRESS - Will receive prompt and careful attention, and the work will Be forwarded OF CHARGE FOR ®|ANSPORTA TION. We endeavor to do all our work well, and to give complete satisfaction to onr customers y . OUR PRIOiSH Are as low it the present high coat of stock, mate rial, labor and will admit ot, and are below the ncreased rates which rule la other lined of business. . , * 8. W. MASON & CO„ v v ♦ , z -V. I*l Bay Strtaf - * SSWar.r.ah, Georgia. THE RATE OP INTEREST. The monetary circles of Europe were star tied when, in September, 1864, the Bunk of Eugiand raised its rate ot discount to uiuc per cent. At that time there was not the smallest apprehension of an efflux of gold. The vaults of the bank were tilled with that metal almost to repletion. The consequence of the contraction of credit was that many commercial failures occurred. This high rale of interest gave rise to two opposite theories. The Edinburg Review’ accounted for it by the foreign demand for loauable capital, aud the increased capability of Eugiand to fur nish an augmented supply from modifying the law in relation to individual liability iu joint stock associations. The consequent diminution of risk to in vesters led to the formation of a large num ber ot of joint stock banks, greatly increasing the amount of loauable capital. This cir cumstance of itself would have depressed the rate of interest, but at the same time there arose a foreign demand for loanable capitai far exceeding the supply. The Bank of Eng land, it is contended, therefore, only followed the impulse given to a rise in the rate of in terest which had its origin abroad. The high profits of trade had given a momentum to enterprise which had elevated the rate of in terest. Dear money was thereiore an inci dent in the general progress of improvement. This was the theory of the Edinburg Review. A different theory was propounded by Blackwood’s Magazine for May. It contend ed that the advance iu the rate of discount by the Bank of England was artificial, and the result of the virtual monopoly enjoyed by that institution of the circulation. The monetary laws aggravating the evils of this monopoly, particularly the act of 1844, which limits the issue of notes to fourteen millions sterling. The writer in Blackwood contends that there was no sufficient cause to raise the rate of discount by the Bank of England to nine per cent, when the abun dance ot loanable capital aud the diminished demand for it —suggested an opposite policy, to wit; a reduction in the rate of discount. The theory of the Edinburgh Review ap pears to us to be founded on an assumption. It assumes that money had risen, not only in England, but throughout Europe, nearly three or four times its ordinary value: The rate of interest in the money market of Eu rope is rarely above five per eent.—it is in Holland not seldom as low as two per cent. Now, conceding that the discoveries of gold on the shores of the Pacific had given a great impulse to trade, and enhanced the demand for loanable capital, it will be recollected that the tendency of so great an increase ot the precious metals, for the past decade after these discoveries, was to lower their value. It is not difficult to conceive that there might have been an increased demand for loanable capital for new enterprises without such an enhancement as neaily 50 per cent n the value of money. The facts are against the supposition. In the money markets of Europe there was no such enhancement. At Paris, Amsterdam, and Frankfort, when the Bank of England raised its rate of discount to 9 per cent, there was but a small varia tion in the value of money, as indicated by the rate of interest. We cannot, therefore, but reject the theory’Hhat there was such an external .or foreign demand for British loanable capital as to justify the Bank of England iu raising its rate of interest to 9 per cent. The theory iu Blackwood offers, we thuk, the true explanation. It assigns as the origin of the rise in the rate of discount by* the bank of England, the strict adherence to the act of 1844, limiting the issues of that institution to fourteen million, as producing a ruinous con traction of credit. If this explanation is sound it limits the rise in the value of money to the British dominion, in Europe, and to an artificial causes to the restriction imposed on the Bank of England, to limit its issues to tiie amount of its capital due to it by the govern ment. The writer in Blackwood sustains his.theory by unquestionable facts. He sbqws that there was no efflux of the treasure of the Bank when it was progressively raising its rates of discount —that on the contrary there was an influx, the bullion and coin having increased in three months, between August aud November, from £12,820,000 to £13,050,- 000, during which time the Bank increased its rate of discount 50 per cent, from. 6 to 9 per cent. Having traced this departure from sound principles of banking to the act of 1844, the writer in Blackwood concludes that the au thors of this law are answerable for the nu merous bankruptcies that took place in the latter part of the year 1864, in consequence of the contraction of credit. In the following remarks all must concur : “In this country, every payment must be made, in money or in forms of credit, which are promises to pay in money. Therefore a wise government should take care that no needless or artificial restrictions be placed upon the supply of this indispen sable commodity. Money, or currency, is simply a form of capital into which all other kinds of capital may be converted. And no artificial restrictions ought to. be imposed on snch concession. Now this is what was done by the act of 1844- For all countries, and especially for a great trading country like ours, this question of the supply of mo ney is before all others in importance. It af fects die rich, but it si ill more affects the poor.' Whenever there is a scarcity of the circulating medium —a “tight money mar ket” as the phrase is—trade languishes—the merchants and manufacturers, the great em ployers of labor, suffer heavy losses—and thousands of the lower classes are thrown out of employment. Free trade lias emau cipated the raw materials of commerce and manufacture from legislative imposts, iu order that the national industry may have scope. But another branch of our legislation (the Bank Act) imposes fetters on all that industry, by occasioning artificial fluctuations iu the value alike in the raw material and ot the articles into which it is manufactured ; aud ever and anon enormously depre dates their value —not front any natural di minution in the demand for these produc tions, but simply by causing au artificial scarcity of the currency, by means of which all buying and selling is cairied on." From this statement it 'l9 plainly perceived that the writer iu the Edinburg Review, who contends that the rise in the rate of interest is not abnormal, and the writer iu Black wood that it is entirely artifical—are at the antipodes iu their explanation of the pheno mena. The general conclusion from the reasoning of the writer in Blackwood is that Banking ought to be left free—that artifici.il restric tions cause ruinous fluctuations in trade, and that the rate of interest ought to be reg ulated by the amount of capital ready to be loaned, and by the extent of the demand for such capital. “Whether it is better for a Qovenment to take the supply of currency into its own hands, or to leave that business to private es tablisoments is a debatable question, but there can be no queslion, that for a govern ment to hand over the supply of currency as a monopoly .lo private parlies—as is the pre sent system in this country—is a procedure of all others the most vicious iu principle and the most mischievous in practice. ’ That the Bauk ot Eugiand should enjoy a virtual rnonopiy of the currency is perhaps inevitable, from its great resources # and its connection with the government, it being the sole source of issue iu Loudou, but that its monopoly should be so extended over the circulation by its simple fiat iu raising the rate of discount at its pleasure, and thence producing a ruinous contraction of credit, is one of the most dangerous forftis in which monopoly can show itself. %* Philosophy and Fashion.—To the philoso phic mind it is ever au amusement to con template the fanciful and fickle freaks of fashion. • When hoops went out of vogue, nigh a century ago, the ladies vowed that scanty petti coats were infinitely prettier; ah I they vied With oue another in reducing their dimensions until their skirts became so shrunken they could hardly move their feet within the limited circumference. So, doubt less, will it be agfliu, now crinoline is doom ed. The milliners of Paris have determined on reviving the “costume of the Empire” of some fifty seasons since, anil who will dare dispute the mandates of the milliners ? ' Al ready we see signs of the change which is approaching. Ladies fresh from Paris startle our eyes now a days bv appearing in what at first sight we might fancy are their night dresses. Os course, when once the tide sets in all The female world will swim with it.— Casting overboard their crinoline, the ladies will all look as though they had been put under a rigid course of Bantipg. Our wives will be so altered that we shall hardly know them ; aud when they walk out in their limp and scanty dresses we shall at first be scarce ly able to realize our happiness in missing the accustomed chafing of our shins. To the philosophic mind it will be curious to note what excuses will be made for the wearing of scant petticoats, to which the ladies have all vowed that they never could revert. The comfort that there was, said they, iu wearing iron cages nobody could tell; and they pro tested that they wore them solely for that reason, aud not for fashion’s sake. The philosopher might shrug his shoulders at their vows, and rightly estimate their worth ; but philosophy availed naught in its efforts to reduce the circumference of petticoats, which fashion has expanded, and fashion only could contract. In its influence on Lovely[Woman, philosophy will bear no com parison with fashion ; and the philosopher who fancies that his words will be listened to when fashion claims a hearing is no better than a fool. The Siamese Twins —The Siamese twins are living in North Carolina, where they farm a plantation. They married two sisters, and while they had five children each (he sisters lived hdbpily. When one of them, however, had a sixth child, they quarreled and would not live under the same roof. The twins are now’ fifty years old. One of them is droop ing, and experiments have been made to find out if the ligature that binds them were c’ t whether they conld survive. On the ligature being tied so as to prevent the circu lation of the blood the twins feinted. It is evident, therefore, -that when one dies they cannot be separated, and both must perish. Their respiration is synchronous when they are calm; their bouts of sleeping and wak ing, and their joys, sorrows, and desires are the same. > ■' r 'r* • ? < ®‘ : " PRICE. 5 CENTS $ oetrn, l For the Savannah Herald. 1 To Mia* Persia . DV DELTA. Like a fairy qneen, or shadowy dream, A bright nymph of the wood or the wave; A Peri or pearl thou dost verily seem, Which even Kings for their crowns might crave. Thine Orient name, like a free wild refraiu, In soft echoes comes floating to me, While memory thine image doth sweetly reclaim, As it pictures thy home by the sea. Me think? I can hear, all sweetly and clear, Thy dear voice, as in carols of glee, It •injjs to the Waves, as if drawing near A past fraught with memories oi' thee. I would there might come, to thy sweet islet home, Some zephyr all light, which gently may bear My name to thine ear where'er thou may’st roam, While tn fancy I too wander there. We, together beside the billowy tide, Os sweet Nature in holy commune, The ' evening star' onr Mentor and gnide, Sweetly would wander by light oi the moon. As with silvery light so shimmering bright, She reflects on each wavelet at play, Soft shadows which peep from the folds of the night. Till her light doth chase them away. “Old Nepfnne ” might laugh at the draughts we would quaff. Os gay beauty, glad pleasure and love; His trident we’d seize as 'twere « light staff, Till tils right to sea reign he should prove. With sea-weed all rare I’d deck thy fair hair, Thy clear brow with blight coral should beam ; . With the queen of my heart, aye, nought should compare, Wtitle thy coronet with jewels should teem. The wondrous "Sea God" himself with a nod * Should acknowledge the Queen of the Sea Though ruling with never a sceptre or rod, No pearl of the “ Orient " can liken to thee ! What strange mystic power I feel at this hour 1 In fancy thou too lingerest here; Yea, though thou’rt afar my bright, "guiding star," Still in spirit I feel thou art near. As an angel of light o’er th? darkest of night, A halo of glory thou’d’st shed ; May this vision of loveliness ne’er take its flight To mingle with shades of tlie dead 1 A bright message may bring ’ueath its unfolded wing Our next carrier dove o’er the sea ; Then hearts shall rejoice and the glad welkin ring To.tfee breeze that returns sweet memories of thee. THE COURTS. FIRST PROVOST COURT —JUI»Gj| KBEN PARSONS JR, presiding; Savannah, June- 14th, 1865. - Nothing of interest trauspired in this court to-day. SECOND PROVOST COURT—CAPT. TANARUS: P. RUNDLETT, -. JUDGE PRESIDING. ' * Savannah, June 14th, 1865. Janies Monahan vs. Mrs. Arnold. Recov ery of Reut.' Held under advisement. Coun sel for plaintiff, F. W. Johnson. B. Stuman vs. L. Connel. Recovery of Rent. ' Ordered that defendant pay to plain tiff within thirty days, the sum of thirty sev en dollars and fifty cents. Counsel for plain tiff,'Hon. Philip M. Russell. ' Uniteff States vs. John tawience ans Henry Maxwell (both colored).. Charged with assaulting aud beating Henry Litffe and violating th.e public peace of the dity ot Savannah’. This case attracted much atten tion, and the court room was densely crowd ed to hear the proceedings, From the testi mony on the part of the government it ap pears that on Saturday afternoon last, Mr. Henry Little was passing through the market about four o’clock, and, as it was crowded, he accidentally stepped on the dress of a col ored woman who was standing near a stall. She immediately used abmive epithets to Mr. Little; he turned back and asked it the language used was intended for him; he re ceived an answer in the affirmative, and im mediately she seized hold of him; another colored woman who was standing at the stall, and who is reputed to be the sister of the one who used the abusive language, also attacked him; he being iu a weak, emaciat ed condition, they threw him on the pave ment of the market, and both fell with him. At this stage ot affairs, much excitement was created, one of the defendants, Henry Max well rushed on Mr. Little with a butcher’s knife; with his left a-m uplifted, and the knife in his hand, he was in the act of strik ing him, when the baton of a policeman on his craDium, stopped his murderous inten tions. *The police separated the combatants, and restored comparative order in a short time. . -%■&<*■ On the part of the defendant, one of his witnesses, Jackeon Sheftall, (colored) testi tified that he saw Maxwell pfatffe his left Arm on the breast of Mr. Little, and his right hand holding a knife uplifted. • - After a careful and patient investigation, and the argument of counsel, Judge Ruud lett passed the following order :■ In conse quence of *no testimony being produced against John Lawrence, that he be discharg ed ; and that Henry Maxwell, the prisoner, be placed in confinement for three months. Counsel for the United States, Hon. Philip M. Russell and J. R. Saussy, Esq; for de fendants, Levi S. Russell, Esq. P. S. Verdery vs. R. Ettleson—recovery of wages for services rendered. Judgment ren dered in favor of plaintiff' for six dollars and ninety-two cents.