SAY AMAH DAILY. HERALD.
VOL. 1-NO. 151.
The Savannah Daily Herald
(MORNING AND EVENING)
18 PUBLISHED BY
8. W. MASON & CO.,
At 111 Bay Steeet, Savannah, Georgia.
Per Copy ® l,ve
Per Hundred 50.
Per Year & 10
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.
In every style, neatly and promptly done.
JS YOUR SFIS INSURED ?
This is an important question for every man and
important also ibr every wife-and mother as it affects,
their future welfare.
SEE TO IT AT ONCE. DO NOT DELAY.
The “Knickerbocker Life Insurance” of New York
will insure you at the usual rates in any suns from SIOO
$lO 000. They hlpo issue the favorite TEN YEAR
NON-FORFEITURE Policies, and will after two years
payment give a full paid up Policy for Two Tenths the
whole sum, and Three Years Three Tenths, and so
on. Thus a Policy of SIO,OOO. Two Premiums paid
upon it will be entitled to a paid up Policy of $'2,000.
aud five years five-tenths for every additional year.
For further information apply to
A! WILBUR, Agent,
At'ttae office of the Home Insurance Cos.,
j U 2T 82 Bay st„ Savaunah, Ga.
THE NEW ENGLAND MUTUAL LIFE INSU
RANCE COMPANY, OF BOSTON.
This is one of the oldest and best Companies in
Policies on lives for any amount up to $15,000 are
taken by them. . „ .
The Policies of these Companies were not cancelled
during the war until heard from—a fact which shews
their dealing and determination to be just and honor
able in all cases. Apply to
j U 2T A. WILBUR, Ageut._
FIRE AND MARINE INSURANCE AGENCY,
SECURITY' INSURANCE COMPANY;
MANHATTAN INSURANCE COMPANY ;
PHGJNIX FIRE INSURANCE COMPANY ;
CASH CAPITAL of over FOUR MILLIONS.
Risks taken an all descriptions of Property on rea
sonable terms by A. A. LANK, Agt.
jggr- office in Stoddard's Range, Bay street, oppo
site Herald office. / '
(MARINE) INSURANCE COMPANY
OF NEW YORK
The undersigned are prepared to Insure nnder Open
Policy from the above Company to the extent of SIOO,-
000 in property in any first class Steamer, and from
$50,000 to $76,000 on any first class sailing vessel, on
the most favorable New York terms.
For further particulars apply to
, CHARLES L. COLBY & CO
Jones Block, corner Bay and Abercorn streets,
jelS ts Savannah, Ga.
Q.LASS 1 GLASS 1!
D. S. SCIIANCK & SON,
■.. >vv ■ y
(Formerly Soiiank 4 Downing,)
Importers and Dealers
COACH, CAh, and
COLORED AND ORNAMENTAL GLASS,
ROUGH PLATE GLASS
FOR FLOORS *nd SKYLIGHTS,
From * to lx inches thick.
45 AND 47 CHAMBJRS STREET,
-jyjITCHEL & SMITHS.
GENERAL COMMISSION MERCHANTS.
Dealers in Sheeting, ShirtiJg, Osnabnrgs, Yarns,
Rope, Bagging, Manufactured ind Smoking Tobacco,
&c., & c.
Particular attention given to the Purchase, Sale and
Shipment of COTTON.
Ralston’s Granite Range;—Third Range,
References.— Erwin & Hhrdee, Claghorn A Cun
ningham, Savannah; L. G [lowers, 8. M. Farrar, Cos
lurnbus; E. B. Long* Cos., I. B. Davis, Augusta; P
P. Pease. V. A. Gaskill, Atlanta. ju2B.lin
fcfc r pilE HOSPITAL TRANSCRIPT."
The paper above named il published at Hilton Head
S. C., by M. J. McKenna,
It Is designed by the Punisher to make an Interest
ing and Instructive Paper,not only for
SICK AND WOUNDED SOLDIERS,
but a WELCOME WEEKLY VISITOR to all residents
of Hilton Head.
It will contain Original LOCAL NEWS, a summary
NORTHERN NEWS) and carefully Selected MIB
- CELLANEOUS ITEMS, f ’uS-tf
SAVANNAH, GA., THURSDAY, JULY 13, 1865.
J c. norvellT~coT
(Cor. BuH and Bay Streets,^
ARE CLOSING OUT THE BALANCE
IMMENSE SUMMER STOCK,
NEW YORK COST.
• WHOLESALE AND RETAIL DEALERS IN
SUTLERS’ AND NAVAL STORES, DRY GOODS,
BOOTS AND SHOES, HATS AND CAPS,
Gentlemen’s Furbishing Goods, &0.,
No. 5 Merchants’ Row, Hilton Head, S. C.,
W. C. RIDDELL. fjul3-tf] H. J. MURDOCK.
JpiRESH “ARRIVAL OF GOODS.
SKEH.AN 4 CONYNGHAM.
Os 176 Broughton Street,
Receive by every steamer fresh consignments of Goods
from New York, consisting of
BOOTS and SHOES,
Ladies’ BALMORALS, 4c.,
Gentlemen’s Felt and Straw HATS,
CLOTHING, GROCERIES, WINES,
Dublin and London PORTER,
Golden ALE, in Cases and Barrels;
Also—A choice selection of GARDEN SEEDS,
Which we offer at low prices to the Trade.
r JD THE CITIZENS OF GEORGIA
The termination of a sanguinary contest, which for
the past four years has presented an impassable barrier
to all social or commercial intercourse between the
two great sections of our country, having at length
happily cleared away all obstacles to a removal of
those relations which formerly bound us together in a
fraternal union, I take the earliest opportunity afford
ed me by this suspicions event, to greet my Sonthern
friends, and to solicit from them a renewal of that ex.
tensive business connection which for a quarter of a
century has been uninterrupted save by tlie great pub
lic calamity to which I have adverted.
It is scarcely necessary, on the threshold of a busi
ness re-nnion, I should repeat the warning so often
given to my friends,—to beware of all those spurious
and deleterious compounds which, under the specious
and false titles of Imported Wines, Bra ndies, Holland
Gin, liquors, 4c., have been equally destructive to
thehefrlth of our citizens and prejudicial to the interest
' Many years of my past fire have been expended Iff
an open and candid attempt to expose these wholesale
frauds; no time nor expense has been spared to ac
complish this saintary purpofc, and to place before
my friends and the public generally; at the lowest
possible market price, and in such quantities as might
suit their convenience, a truly genuine imported arti
Twenty-five years’ business transactions with the
largest and most respectable exporting houses in
Fiance and Great Britain have afforded me unsurpass
ed facilities for supplying our home market with
Wines, Liquors, and Liquersof the best aud most ap
proved brands in Europe, in addition to my own dis
tillery in Holland for the manufacture of the “Schie
The latter, so long tested and approved by the med
ical Faculties of the United States, West Indies and
South America as an invaluable Therapentic, a whole
some, pleasant, and perfectly safe beverage in all cli
mates and during all seasons, quickly excited tbe cu
pidity of the home manufacturers and venders of a
spurious article uuder the same name.
I trust that I have, after much toil and expense, sur
rounded all my importations with safeguards and di
rections which with ordinary circumspection will in
sure their delivery, as I receive them from Europe, to
all my customers.
I would, however, recommend in all cases where it
is possible, that orders be sent direct to my Depot, 22
Beaver street, New York, or that purchases be made
of my accredited agents.
In addition to a large stock of Wines, Brandies, 4c.,
in wood, I have a considerable supply of old tried for
eign v ines, embracing vintages of many past years,
bottled up before the commencement of the war,
which I can especially recommend to all connoisseurs
of these rare luxuries.
In conclusion, I would specially call the early atten
tion of my Southern customers to the advantage to be
derived by transmitting their orders without loss of
time, or calling personally at the Depot, in order to
insure the fulfillment of their favors from the present
large and well selected assortment
ju23 lm 22 Beaver street New York.
The Proprietor of the •
SAVANNAH CITY FLOUR MILLS,
Begs to announce to his numerous patrons that he has
made a number of improvements in the machinery at
tached to his establishment and is now prepared to
furnish his customers with a full of the best
GRITS AND MEAL,
and everything that can be expected from a
FIRST-CLASS MILLING ESTABLISHMENT.
He pledges himself to always sell his Goods and do
26 PER CENT LESS
for the benefit of the citizens, than many of his com
petitors. He is prepared to grind Wheat and Com at
the customary % toll, and in addition will, as above
stated, always be prepared to furnish his friends with
everything in the old style.
His place of business is at the well-known spot at
the FOOT OF BROUGHTON STREET. julD-tf
Tbe Regular Annual Meeting of the Stockholders of
the Southern Insurance and Trust Company will oe
held at the office of the Company, in Savannah, on
Wednesday, 19th July, 1866, lor ttie purpose of elect
ing Directors for the ensuing year, and for the tran
saction of such other business as may be brought be
fore the meeting.
H. BRIGHAM, President,
Per J. C. McNULTY,
ju22 ts Assistant Secretary.
TO MERCHANTS AND SUTLERS.
We offer our large and varied Stock of STATION
ERY at the lowest cash prices.
Our stock in the above line is the largest in the De
partment, and all our goods are of the gjbsr quality,
fresh and direct from Manufacturers. L.‘-
We solicit the attention of purchaser'll our goods
SAVILLE t LEACH.
Corner Bryan street and Market square.
Timber Cutter’s Bank,
MERCHANTS’ ROW, HILTON S. C.
Jyi M *'
gAVILLE 4 LEACH,
BOOKSELLERS AND STATIONERS.
HILTON HEAD, S. C. ,
CORNER BRYAN STREET AND MAROfr SQUARE,
SAVANNAH, GA. /
_ma£3o_ mm U m^=ssaa=^ss^a^^^S!Ssmmmm
" »■ ■
ISLAND HOTEL. A
OPEN TO THE %BL IC ,
TUESDAY, JUNE 20Tl| 1865.
This new Hotel, situated on the Jfcost desirable spot
on the eastern bank of Hilton Head Island, affords a
fine view of the Pier, Bay, Ocean, and surrounding
Islands. The scenery is quite as pleasing and inter
esting, in every respect, as the famous watering place
of Newport, R. 1., and is altogether as comfortable
and'healthful a place to spend the summer months.—
It has a fine hard smooth Beach, seventeen miles long
affording a more charming drive than the celebrated
Beach at Nahant, Mass,, and as fine sea bathing as at
that place or Cape May. . *
The House has over seventy large, airy rooms, and
verandahs on three sides of all the stories ; the furni
ture Is entirely new, and the tables will be furnished
with the best that can be procured here and in the
Northern markets. Every effort will be made to ren
der the Hotel all thattho most fastidious can desire.—
Billiard Rooms And sea Bathing houses will soon be
in readiness for guests. ju23 ts
JJOTEL FOR SALE,
THE SAXTOfI HOUSE,
BEAUFORT, S', C.,
Formerly the property of Dj. Johnson, is for sale
Apply to WW
C. W. DENNIS & Op.,
« No. 4 Merchants’ How,
ju29 tt Hilton Read, S. C. .
pORT ROYAL HOUSE,
v- - * l ;
RIDDELL 4 RUGG, Proprietors.
X. ft RIDDELL, M. F. RUGG.
BARTELS 4 RIDDELL, Proprictors.
jf O. BARTELS. E. S. RIDDELL.
WHOLESALE AND RETAIL DEALERS
ALES, WINES AND LAGER BIER.
165 BAY STREET,
ju2l ts ,
M rtITARI oIoTH,NH
HATS AUD CAPS,
BOOTS AND SHOES. *o„
H. A. TOPHAM'S,
NO. 13S CONGRESS STREET.
This Store is well stocked with a superior quality of
goods, which will be sold remarkably cheap, as the
P.oprietor wishes to make room for anew assort
RIVER AGKiCULTRAL WORKS.
GRIPPING, BROTHER 4; CO., Proprietors,
66 AND 60 COUBTLAND STREET.
Manufacturers of Plows, Harrows, Cultivators, Cot
ton Sweeps, CornTMills, Cotton Gins, 4c.
Every implement wanted by the Planter, Also,
dealers in Field and Garden Seeds. Also, Agents for
Bruce’s Concentrated Manure, Bone, 4c.
Send for circular. ju2o 3m
COMMISSION AND PRODUCE MERCHANT.
Strict attention given to all Consignments.
Corner Broughton and Jefferson Stbexbs.
p B. DAVIS.
GROCER and COMMISSION MERCHANT,
No. 283 Broad Street,
Consignments solicited. Will give personal atten
tion to business entrusted to him.
Crane & Graybill, Savannah.
Claghorn 4 Cunningham, Savanrfah.
S. Palmer k Son, “ . ,
Mr. A. Wilbur, Pres. Home Insurance Company,
M r , W. Camming, Cashier Bank State of Ga
Mitchell 4 Smith, Macon.
John B. Habersham 4 Cos. Macon.
Wright 4 Alexander, Augusta.
E. B. Long 4 Cos.,
C. V. Walker O Cos., “ jul6-lm
j cTfbathkr, M. D.
OFFICE, NO. ISX MERCHANTS' HOW,
HILTON HEAD, S. C.
VHE NATIONAL BANK SYSTEM.
The great currency desideratum since the
adoption of the coustitution, has been uni
formity of value, like that of the Bank of
England, as well from place to place as from
time to time. It has never been attained.
The want of uniformity was not the evil to
be corrected, in the view of its framers when
they prohibited the States from making any
thing but gold aud silver the constitutional
currency. The discredit into which the is
sues of the States had tallen—the legislation
that made pine-barren acts a part of their
system of finance and currency—together
with the excessive quantity of paper money
issued by States and Municipalities—made
depreciation the prominent and the want of
uniformity the lesser evil, from the limited
intercourse, social and commercial, between
the States. Even the check against excess of
paper money was evaded by the States from
the unfortunate employment in the constitu
tion of a phrase of too restricted import i. e.
“Bills of Credit”. A bank note in its general
acceptation is a Bill ot Credit, but in the
view of tlie framers of the constitution, and
in the language of that day, Bills ot Credit,
were paper money issued under the authori
ty of the State, or those who had assumed
the sovereign authority, to defiay its expen
ses, ot which there was a profusion issued
during the revolutionary war. Technically
speaking a bank note was not a Bill of Credit,
although substantially it was.
The State legislatures by this evasion as
sumed the privilege of chartering banks, and
the attempt to counteract this unconstitu
tional exercise of power was more to correct
the evil of a want of a Nationai currency
than to restrain the banks from flooding the,
country with paper money. Two attempts
have failed to effect this object. The non
renewal of the charters of the Bank of the
United States have shown the difficulty of
placing the power of creating paper money
under restraint. The mischevgps effects on our
domestic trade of currencies of varying values
between State and State, and even between
city and city have prevailed at short inter
vals, for between sixty and seventy years
Jbefore means of correction could be
What could not be effected in more than
half a century during peace has been effect
ed during four years of war. The suspension,
of specie payments by th« banks just after
the war broke out, afforded the opportunity
t$ organize a system of National banks that
promises the desideratum 90 much sought—;
a cunrency of uniform through their
In the att Organizing these institutions (see
Statutes at large of the 37th Congress, 1862-
63) every guard has been devised, apparent
ly, against the abuse of baukiDg, with the
utmost minuteness of regulation. One of
the features has been borrowed of the Free
Banking Law of New York, i. e., giving se
curity for issues by a pledge ofUnited States
stocks. This is one of the few departures
from unrestricted banking which experience
would appear to justify. In this branch of
public policy, freedom should be the rule and
restriction the exception. In the use ot the
phrase “free banking,” writers have not de
fined their meaning with sufficient precision.
The business of banking it is absolutely ne
cessary to place under some legislative regu
lation, as well without as with charters. To
instance the giving of security for issues, will
any one contend that the note holder, to say
nothing of the depositor, should not be pio
tected from loss from those who are clothed
with the privilege of issuing notes ad libitum?
The people at large are involuntary dealers in
money. They are compelled from necessity
to buy as well as sell, and their ignorance of
the solvency of those who issue paper mo
ney, exposes them to loss fully as much as
from the crime of counterfeiting or debase
ment of the coin.
Again, if there is no limitation to the priv
ilege of issue, the loss by mutilation and
other causes from a fractional currency, falls
upon the most necessitous -classes, who par
ticipate £0 largely in retail transactions, to
the gain of those who deal in circulating
credit, be it the government or corporations..
Here then, at least two exceptions to
those general principles of freedom in bank
ing which it would be desirable to adopt
under certain modifications.
Among the provisions of the act organiz
ing the National Banks is one limiting the
issue of their notes to three hundred millions
of dollars This is a iimitation that palpably
violates sound banking principles. It is pre
cisely such a limitation as has given rise to
much controversy in England from the adop
tion of Sir Robert Peel’s act of 1844.
That act prohibited the Bank of England
from issuing a larger sum in notes than the
amount due the bank by the government—
£l4,ooo,oo0 —all notes issued beyond this
sum, the bank being compelled to have in
its coffers au equal amount in coin or bul
lion. • . .
This, of course, allowed for no increase of
currency commensurate, with the increase of
trade- It allowed for none of those periods
of commercial panic, during which credit is
contracted,- and the amount of circulating
PRICE. 5 CENTS
medium is insufficient, nor for political alarm
that produces a run on banks? The Bank
of England has, besides, peculiar cauies of
disturbance, by which it is occasionally
nearly depleted of its gold, such as deficient
harvests and subsidies to foreign powers.
It appears to be tbe very reverse of the
policy that ought to be pursued, that if five
or six millions in gold should be withdrawn
from the bank, and its stock of specie re
duced from ten millions to four or five, that
it should still further reduce its circulation
four or five millions more. The dictate of
prudence would be, unless* the circulation
was in excess before, to add four or five mil
lions to its amount, and not to diminish it to
its full extent.
This change of the law was the fruit of a
new dogma iu currency, to wit: "That the
t vrreniy of a country should vary in -amount and
value exactly as a metallic currency would do
were the paper currency withdrawn and coin sub
tituted in its Stead." Now this appears to be"
a very plausible proposition, but it will not
bear examination. The conditions of the
problem, when thus stated, bear no analo
gy to the actual state of things. Let us sup
pose that the paper currency of a country
consists of one hundred millions of dollars, ot
be withdrawn, as supposed, and coin substi
tuted for it, how can it be .imagined that one
fourth or one-fifth in coin or bullion could
supply its place when the latter is only the
basis of the former, where bank notes are
employed, and is only one of the forms of
paper currency, in common with bills of ex
change, checks etc. It forms in fact but a
small proportion of the means of effecting
exchanges and making payments. There is
more property transferred by ledger entries,
without the agency of paperjof any kipd, than
oy all other kinds put together, in a period of
high confidence. If paper money was the
only substitute for coined money, a compar
ison might be instituted between them as to
value and amount, at any specific period.
To supply the place of paper with gold, dol
lar for dollar or pound for pound would not
suffice for the present wants of the circulation
in any country which largely employs circu
The Directors of the Bank of England are
bound by a rigid rule of which no relaxation
-is permitted. Whether there is diminution or
increase—efflux or influx of gold—this arbi
trary amount of fourteen millions forms the
limit—the maximum as well as minimum ot
We have supposed that four or live mil
lions In gold, during an unfavorable exchange
or any cause, should be withdrawn from the
coffers of the Bank of England, outdf a»stock
of ten millions, it would be the obvious dic
tate of prudence, we repeat, to add and not
diminish the circulating notes of the Bank.
On the supposition the Bank has lost nearly
half its gold, ind lessened its ability propor
tionably to assist trade—if those four of five
millions had remained in the coffers of the
Bank, according to the usual, ratio of paper
to specie, three to one, the issues of tbs Bank
could reach nearly fifteen millions, but in
stead of that they would have fallen to about
five millions, if they merely equalled in
amount the gold abstracted. The proof that
such has been the effect of Sir Robert Peel's
act, was furnished on two occasions, when
the operation of the act was suspended.
We have entered into this detail to show
the similarity between the British act of 1844
and the act of our Congress organizing the
National Banks, at least in one of its feature?,
limiting the amount of issue. Any limita
tion of this kind, by which the proportion is
fixed of paper currency to the wants of trade,
n advance or anticipation of those wants, is
contrary to sound principles ftf banking. V
“Cabinet Possibilities.” —Under this head
ing the New York Tribune of the 7th, in no
ticing a rumor that. Secretaries Seward and
Stanton will this month retire from the posi
tions they have so ably filled, to be succeed
ed by Qov. and Hon. Preston King,
This report renders proper tbe statement
that Gov. Seward, as we understand, long
'Since notified President Johnson of his wish
to be relieved of his official cares aqd duties
at .the earliest day consistent With the de
mands of the public service. So long as his
counsels are deemed essential, Gov. S. will
continue at the head of the State Department,
but no longer. The talk therefore, any pros
pective appointment “rendering it impossi
ble tor Secretary Seward to remain in the
Cabinet,” is as unjust as disparaging. He
may remain months for aught we know; but
he expects and desires to leave so soon as he
can be spared.
Jeff. Davis’ Capture.
Raleigh, N. C., June 2, 1865.
Editor Democrat .—The servant boy who
was with Jefferson Davis when he was cap
tured has returned to this plffce, and says
that Mr. Davis was not disguised in the fe
male apparel when he was captured—that he
had on the clothing he was in the habit of
wearing; and when the alarm was given,
and as Mr. Davis started to leave the tent,
Mrs. Davis threw her shawl ove? his head or
shoulders. The name of the servant boy is,.
I am informed, Jim Jones, and accompanied
Mr. Davis from Charlotte until he was cap
tured and landed at Fortress Monroe. He
is known here in Raleigh to be truthful and
of sound character.— Charlotte Demhcrat.