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JAB. G. BAILIE. )
FRANCIS COGIN, Proprietors
GEO. T. JACKSON, )
Address all Letters to
H. C. STEVENSON, Manager.
Joe Crews bids fair to recover. The
buckshot have been removed from his back,
and poker-playing may know him again.
A reporter of the Atlanta Constitution has
discovered an old well full of putrid corpses
near the Medical College in that city.—[Sa
vannah News.
Is not that a capital chance, if properly
managed, to restore the lost pungency of
Ponce de Leon springs?
Richmond Academy will resume opera
tions on Monday next. Mr. Joseph T. Der
ry has come back from his summer jaunt
very much refreshed, and it is to be hoped
that the boys, after their long holiday, will
return to their books with redoubled en
ergy, remembering that a good education
is a fortune that no panic in the money
market can possibly take away.
We publish this morning a very clever
article from the correspondence of the Cin
cinnati Gazette, relative to the fate of New
York speculators. Just now Jay Gould
is the ruling power on Wall street, but it is
confidently predicted that he too will at
last go to the wall. It seems to be the fate
of stock gamblers never to know when to
stop or when to be satisfied.
Cyrus P. Pershing has been nominated
by the Democratic party of Pennsylva
nia as their candidate fbr Governor.
The platform recently telegraphed has
been adopted. Somehow or other the
name of Pekshing has not a Gu
bernatorial sound to us; but there is no
telliDg what will happen now-a-day. ’Rah
lor Pershing!
Sometime ago a statue of Mr. Sumner,
ordered from Europe, was broken in course
of transportation. The bronze figure of the
immortal Stonewall Jackson, the work
of Foley and gift ol Hon. Bebesford
Hope and other Englishmen to the State of
Virginia, has met with a better fate. It has
arrived safely at Baltimore, and very soon
the hero of the Confederacy will take his
place beside the noble effigy of Washing
ton.
Judging from the platform of the Farm
ers Convention of Ohio, demanding a re
peal of the Resumption Act of Congress and
National Banking laws, we should say
that old Uncle Wm. Allen has a pietty
strong following in the rural districts. No
wonder Morton pocketed his bloody shirt,
became dumb on the curieucy question and
made months at the Pope, in utter despera
tion.
Old Probs records that heavy gales are
likely to occur off the coast of the Middle
States. If the tempest should extend as far
(Southward as Charleston, there might be a
chance to break up the water famine and
fill the dry cisterns of that city, which has
“Water, water all around.
And not a drop to drink.”
As we write there are some indications of
possible rain in this locality, but we fear
the drouth is not yet over.
Mb. Derry’s letter, published in this
day’s issue, rather knocks Mr. Nordhoff’s
exquisite tomfoolery “higher than a kite.”
The fact is, Georgia has progressed amaz
ingly in wealth since Gov. Smith came into
power. Mr. Nordhoff is a Republican,
and it would never have done for him to
make Georgia, the great Democratic State
of the South, a sample of what a common
wealth may become when released from
Radical misrule. Perhaps Mr. Nordhoff
meant to tell what he conceived to be the
truth, but his prejudices got the better of
his judgment. At all events, he contrived
to make out a case which will not square
with the truth of history and statistics.
From all accounts the cotton crops of
Texas and Alabama will be very large.
From the Mississippi Valley, exclusive of
the laud inundated awhile back, the yield
of the staple has been enormous, and it
is only a question of ability to pick out what
has been made. Persons who have reviewed
the whole field, allowing for the good and
bad condition of all localities, preiict that
a dry season at this time and late frost will
stiffen the bear estimates of a crop exceed
ing 4,000,000 bales immensely. The fact
seems to be that, as usual, the planters have
made too much cotton to hope, in the pre
sent stringency of the money market and
panic among mill owners, for high prices.
But we shall see what we shall see.
We visited the city (Augusta) in the In
terest of the advertising columns of the
Sentinel, and while there enjoyed the hos
pitalities of our friends of the quill of both
the Constitutionalist and Chronicle and Sen
tinel. The former has recently appeared in
an entire new dress, which reflects greqt
credit upon the typographical skill of its
compositors. Messrs. Randall and
Stevenson, the editors, have brought the
paper up to that standard in journalism
which renders it one of the most promi
nent as well as popular in the Southern
country. Its principles are firm and un
shaken ; it has maintained its independent
course all through the severest trials of
journalism, and is now a paper that should
properly be in the household of every son
of liberty. The Chronicle and Sentinel, which
is an old and firm journal, is crowned with
confidence, and reaches the homes of near
ly all Georgians and Carolinians. -Barnwell
Sentinel
The Chairman of the .Democratic Execu
tive Committee of Mississippi completely
punctures satrap Ames’ bloody yell for
United States troops to quell an insurrec
tion that does not exist. If Grant issued
proclamations and sent tro ips every time
a local row occurred in this country he
would have his hands full of orders from
Indiana, Pennsylvania, Illinois and other
loyal States. We are glad to see t‘hat the
President has grown wiser since the
Louisiana affair, and propeny distrusts the
titled scoundrels who have been dressed in
a little brief authority by the deviltry of
reconstruction. Attorney General Pierre
pont, who has stigmatized the reconstruc
tion acts as the greatest blunders and
crimes of the XIX Century, is a different
order of man from Mr. Williams, and we
may n >w look for an amount of prudence
on the part of the Administration which
was. a little while ago, foreign to it.
One of the ludicrous features of the Mis
sissippi embroglio is the frantic effort, on
the part of such fragments of the Govern
ment as were within hail of each other, to
find the Secretary of State. Until yester
<lay, nobody could tell what had become of
the Secretary of State. The President, his
private Secretary an 1 the Attorney Gen
eral were angling in troubled waters to
catch their lost Fish. It is true that he was
all the while blissfully reposing at his
country seat, amid all the hurly-burly, and
desperately annoyed, no doubt, that Ben
Butler’s son-in-law should attempt to
spoil his digestion by inflammatory appeals
to the worst Government the world ever
*miw. It looks odd for a Secretary of State
lo leave Washington and never let anybody
know his address. But as Grant declared
iiis policy was to drift, perhaps this benevo
lent jld FrsH wisely determined that it
might drift and be hanged for what he
pared.
@lj£ Constitutionalist
Established 1799.
AMES’ PA( HALIQUE.
GREAT CRY AND LITTLE WOOL.
A Batch of Telegrams—Flat Contra
diction of a Governor’s Lies—“ Order
Reigns in W arsaw.”
Jackson, September 10.—The'follow
ing dispatch was sent to the United
States Attorney General to-night:
To Hon. Edwards Pierrepont, Attorney
General of the United States:
There are no disturbances in this
State, and no obstructions to the exe
cution of the laws. There has been an
unexpected conflict at a political meet
ing and some subsequent disturbance,
but everything is quiet now. The Gov
ernor’s call for United States troops
does not even pretend that there is any
insurrection against the State govern
ment, as required by the revision of
the United States statutes of 1875,
pages 10 to 34. Peace prevails through
out the State, and the employment of
United States troops would but in
crease the distrust of the people in the
good faith of the present State govern
ment.
[Signed] J. H. George,
Chairman of the Democratic State
Executive Committee.
Washington, September 10.—The At
torney General to-day telegraphed to
Governor Ames requesting information
regarding the present condition of af
fairs in the recently disturbed por
tions of Mississippi, and is now
expecting a reply. A dispatch
has been received in response
to the telegram from the Attorney
General inquiring as to the wherea
bouts of Secretary Fish, announcing
that that gentleman is at his country
seat on the Hudson, and that he will
meet’ the Attorney General at any point
he may designate to confer upon the
subject of a proclamation. To this
telegram the Attorney General replies,
informing the Secretary of State of his
telegram of this date to Gov. Ames,
aud delaying the proposed conference
until after a reply to that telegram
shall have been received, the character
of which, it is judged, may be such
that no further action will he necessary
hp the general government.
Washington, r eptember 10. —A tele
gram has just been received by the
Attorney General from the Sheriff of
Hinds county, Miss., reporting that
perfect peace prevails throughout that
county. The peace officers are not
prevented from executing the legal
process, and good citizens, the Sheriff
telegraphs, will aid him in the discharge
of his duties if needed. The Attorney
General expressed the opinion that the
difficulties are at an end. He still
awaits a response to his telegram of
this morning to Gov. Ames.
THE NORTH CAROLINA CONVEN
TION.
Important Ordinances Introduced —
The Democrats Controlling Every
thing—A Harmonious Session.
Raleigh, N. C., September 10.—The
Convention commenced work to-day in
earnest. Standing committees were
appointed by the President. About 125
ordinances were introduced to amend
the present Constitution. The princi
pal ordinances introduced and referred
were to reduce the number of Supreme
and Superior Court Judges, and D be
appointed by the General Assembly in
stead of elected by a popular vote; fix
ing the pay of members of the General
Assembly at 8300 per annum ; reducing
the number of county commissioners ;
fixing the term of Governor and State
<fficers at two years, instead of four ;
providing for non-suspension of the
writ of habeas corpus ; for separate
schools for white and black child :en ;
modifying the appointing power of the
Executive; fixing salaries of Govern
ment and State officers ; abolishing the
Senate braneh of the Legislature ; pro
hibiting convicted felons from holding
offices or sitting on juries ; providing
for the compromise of the public debt,
etc. The only resolution introduced
hy the Republicans was one for ad
journment sine die, which lies over un
der the rules. A majority of the com
mittees are Democratic, with the ablest
men of the convention as chairmen on
the most important. The session was
protracted but harmonious.
FROM WASHINGTON.
Revenue Changes—Naval Intelligence
Washington, September 10.—Changes
in internal revenue supervisors have
been made as follows: Supervisor
Hawley has been transferred from New
York to San Francisco, relieving Super
visor Foulke, who is ordered to Rich
mond ; and Supervisor Sewall, now on
duty at Richmond, is to perform duty
at New Y'ork.
Dispatches have been received at the
Navy Department from Captain E.
Simpson, commanding the United
States steamer Omaha at Panama, de
tailing at length the condition of affairs
there, as already published in the press
reports. He says he did not request
the American Consul at Aspinwall
to prohibit the landing of the 500 rifles
purchased for Bolivar, but, on the con
trary, sent the Consul the following dis
patch :
“Consider whether it will be a proper
act for you to see that those arms are
not allowed to be diverted from their
original destination ; or, if that cannot
he prevented, then consider if. you have
not the power to prevent them from
being landed, subject to instructions
from Washington.”
Subsequently a conference was held
between Capt. Simpson and our Consul
at Aspinwall, and it was decided that the
Consul had no right to interfere with
the landing of the arms, and this ended
the question.
CRIMES AND CASUALTIES.
Arrest of Counterfeiters—Cattle Dis
ease in New York—Destructive Storm
in the Northwest.
Cincinnati, September 10.—A special
dispatch from Decatur, Alabama, re
ports several prominent persons were
brought there charged with dealing in
counterfeit money. The counterfeits
consist of Traders, Paxton and Canton,
Illinois, Nautional Banks—fifties and
twenties legal tender and fifty cents.
Kinebeck, N. Y.—A fatal cattle dis
ease prevailed among several droves of
cattle near Ancreal lead mines. Nearly
all are dead. It is thought to have
been introduced by Western cattle.
Chicago, September 10.—Accounts of
accidents caused by a terrific thunder
storm in the northmest, for the past 48
hours, are numerous. Several acci
dents occurred on Lake Michigan.
Three yachts and one schooner loaded
with lumber were sunk, and a large
number of smaller craft capsized.
The bark Tanner foundered in attempt
ing to enter the port of Milwaukee.
The Captain was drowned.
FOREIGN DISPATCHES.
Opening of the Servian Parliament—
The Pope as a Peace-Maker—Dis
tinguished Compliment to Cardinal
McCloskey.
Belgrade, September 10.—The for
mal opening of the Servian Skuptchina
took place yesterday. Prince Milan in
his speech referred, but in indefinite
language, to the troubles in Bosnia and
Herzegovina. He said he relied on his
people’s support in serious tasks im
posed by the grave crisis.
Vienna, September 10. —It is reported
that the Pope has instructed Catholic
Bishops in Bosnia and Herzegovina to
use their influence in calming the peo
ple and to faciliate the pacification of
the provinces.
Rome, September 10. —A deputation
in behalf of American residents, both
Catholic and Protestant, visited Cardi
nal McCloskey and presented him, as
a token of esteem, the complete Cardi
nal’s dress and a mitre set with preci
ous stones, together with an address
expressing their good wishes and ven
eration.
Pigtail Perplexities—An English
Steamship Line Collapsed.
San Francisco, September 20.— The
City of Tokio has arrived.
Judge Richardson, of the United
States Court of Claims, and Commis
sioner Lewis, of the steamer Yantic,
were arrested while walking within the
treaty limits of Yokohama. The act
was disavowed by the government at
Yeddo, apologies made and offenders
punished. Telegraph attaches were
attacked by a Chinese mob at Foo
Choo.
London, September 10.—The financial
article of tbis evening’s Echo contains
the following paragraph: “It is stated
that the State line Steamship Company
is in danger of a complete col
lapse. The Directors aud the
committee of the stockholders have
concluded that any attempt to carry
on the company by borrowing money
is hopeless and that the only means
of averting the total loss of what re
mains of the capital is to continue the
line by tho formation of anew com
pany. They propose to offer their
seven ships, which cost £4(12,000 sterl
ing, for £255,000. They recommend
the shareholders to allow the value of
the stock in trade to be transferred to
the new company, and also to apply
for a considerable amount of the pro
posed supplementary capital, believing
that the winding up of the company at
this time would result iu a total loss of
the capital invested.”
Cuban Complications—Valmaseda as a
Reformer.
Havana, September 10. —Captain-
General Valmaseda has made impor
tant changes in the municipal govern
ment of Havaua. The powers of the
Mayor have been restricted. The chief of
police, and is ordered to report directly
to the Captain-General. The battalion
of civil guards have been relieved from
police duty in part, and a battalion of
veterans from various regiments will
take their place, doing duty conjointly
with the city police. The Acting
Mayor, the Marquis of Bella Vis
ta, has resigned. A report is cur
rent that the Mayor Zulueta, who
is on leave of absence on account of ill
ness, has sent a protest to Madrid
against these changes. The headquar
ters cf several divisions of Spanish
troops in insurrectionary districts have
been removed from country seats to
points on lines of railroad.
President Gonzales, of San Domingo,
has suppressed Dos Antiniles, a news
paper of Puerta Plata, published in the
interest of the Cuban insurgents.
FROM FALL RIVER.
Resumption of a Mill —Great Distress
Among the Strikers —Extraordinary
Plan for Raising Wages.
Fall River, Mass., September 10.—
The Phillip mill is 'running to-day. It
experienced no trouble in securing non
union help. The mass of operatives
are evidently anxious to return to
work at reduced raten, but are con
trolled by uu on men. There is con
siderable suffering among the strikers.
Affairs are rapidly approaching a cli
max. Manufacturers are inflexible, but
would open the mills if the operatives
would insist on no proviso. The organ
of the operatives says :
“In our judgment, the operatives
would make their point if they would
return to work, leaving the wages ques
tion in tho hands of a committee, and
then induce 40,000 operatives of Rhode
Island to take a month’s vacation. Fol
lowing close after the shutting down
of mills in this city, such a movement
could hardly fail to put up the price of
cloth. With cloth advanced to rates
that would pay good profits there can
be little doubt that if help then asked
for a restoration of 10 per cent, they
would not be allowed to come out on a
strike.
POLITICAL.
m
Nominations of the Pennsylvania Con
vention—Ohio Farmers Demanding
tlxe Repeal of the Resumption Act
and National Bank Law,
Erie, September 10.—Cyrus P. Persh
ing was nominated for Governor on the
11th ballot receiving 145 votes. The
nomination was made unanimous. The
platform as telegraphed in last night’s
late report was adopted.
Victor E. Piolette was nominated for
State Treasurer on the third ballot.
Adjourned.
Cincinnati, September 10. — The Farm
ers Convention adopted a platform de
manding an immediate repeal of the
Resumption Act of 1875, repeal of the
National Banking law aud that Govern
ment shall supply national paper di
rectly.
A Tight Squeeze in New Mexico.
Santa Fe, September 10.—Later re
turns for delegate to Congress reduce
Elkins’ majorities to such an extent as
to leave the result in doubt. An offi
cial count will be required.
STONEWALL JACKSON.
Arrival of the Bronze Statue of the
Great Commander—-It Will he
Placed hy the Side of Washington's
Effigy.
Baltimore, September 10.—The
steamship Nova Scotian arrived at this
port yesterday evening from Liverpool.
She biought Foley’s bronze statue of
Gen. Thos. J. Jackson, the famous Con
federate leader, presented to the State
of Virginia by Hon. Beresford Hope,
M. P., and other English gentlemen.
The statue cost 840,000 and will be
erected in the Capitol Square at Rich
mond, Va., near the equestrian statue
of Washington.
Milwaukee, September 9.— The Union
Lumbering Company, of Chippewa
Falls, suspended. Liabilities, 8650,000.
AUGUSTA, GLA_., SLATTJRDA.Y, SEPTEMBER 11, 1875.
—<
NEW YORK SFI JLLATORS.
THE WRECKS OF THE GREAT
PANItj.
ft
The Horde of Stock! Gamblers Who
Fatten on lullatioii—How Country
People are Induces to Try Their
Chances—The Futuijj; of Wall Street
Operators. j?
[Special Correspondence! 4 the Cincinnati
Gazette!
New York| September 4.
The first autumnal rr|>nth opens amid
suicide, drowning, murjer and financial
woe. Yet even this nel l not cause ex
cessive fear. Such things have always
been a part of human!experience. It
is a curious fact tiat wo such great
failures as that, of Dunlan, Sherman &
Cos. and the Bank of Cjlifornia should
have only affected a ftl-v stock jobbers
and speculators . but a| long as money
can be borrowed at thejateof from I}.,
to 3 per cent, per annui|i a panic is im
possible. The Duncan,iSherman & Cos.
concern was thoroughly corrupt both
in morals and money. -They have been
insolvent for two yearsland have only
been kept afloat by thi; Sale of their
own paper, and yet during all this time
they maintained the fuif routine of a
luxurious life. Oulv lajjtt year William
B. Duncan ordered a! carriage from
Paris at an expense of 1.0,000 francs—
equal, with exchange find duties, to
about 82,500. Butler’s family is small,
yet he had seven carriages and a goodly
number of horses. Tojkeep up his es
tablishment alone must jiave cost 83,000
a year, which was doutle Watts Sher
man’s salary when he w*s first appoint
ek cashier of an Albtjny bank. The
cost of these horses anG carriages was
not less than 820,000, ai|d they did well
to bring at auction one-quarter of that
sum, 5
Other Fail tires*
Lee, Shepherd & Cos. I' the first pub
lishing house to go ulder in several
years. Indeed, there| has been no
failure worth mentioning' in this line iu
Boston since that of Ptf,flips, Sampson
& Cos., more than twenty years ago. It
is only a matter of surprise that fail
ures have been so rarj in this branch
of trade. Union A darr|; has been con
sidered a very successful man. He has
been iu the hosiery tlade for thirty
years, and from a smajl beginning he
built up a wholesale concern, and be
came a director in a popular bank. It
is probable that his misfortune is due
to speculation. This Elat the bottom
of most failures, though often con
cealed. It ruined Duncan, Sherman &
Cos., aud also the Ban I’ of California,
and no concern can be iso well estab
lished as to be proof jagainst its in- i
sidious influence. ;
Glance at thejPast.
Speaking of speculation iu connec
tion with the failures referred to re
minds one that it is ;fist two years
since the great panic. What social and
financial revolutions ha|e been accom
plished during this interval? The
panic was brief, but its! consequences
are still felt. The irmiLdiate victims
were Wall street operators, who were
of little value, but sicci then the dis
ustrous effects have slread far aud
wide. |
It may be observed tfcut Wall street
speculators are a shyrt-lived class.
They soon wear out uue’.e 1 ' the excite
ment of their incessant Jrisks, and few
live past their fortieth! year, but the
vicissitudes of speculation are so rapid
that few men are here ijjuud past that
period iu life. {
New Croi|.
Since the great panic anew set
has appeared at the Stjck Board, for
that brief period of ruitj cleaned out a
large number of operator in a hopeless
manner. It may also lj*. said that be
tween the close of the vlar in 1865 and
the great panic (a period!of eight years)
another class til operators passed
away, so that within ien years Wall
street has seen two generations of
speculators, almost all i>f whom have
been finished in healtlf and in purse.
The war created a hordl of stock gam
blers such as the country had never
dreamed of. During tllree years they
had uninterrupted swly, and their
profits reached fabulcjis sums, but
their dazzling success Fas as evanes
cent as the mirage, ajid they were
stripped before they ct* ild realize it.
When they came to thiir senses they
were like men recovering from some
bewildering dream. i'he vision of
wealth was gone and hs,d not “left a
rock behind.”
By-Gone Navies,
This mushroom arrajif of stock-job
bers was almost unknown until the in
flation created an irresistible advance.
They took the. tide at gits flood, and
were swept on to fortunl, and then the
ebb of the same tide carried them back
to the place of starting! One of these
men of temporary notoigety was Leon
ard Jerome. There arelthree brothers
who came hither from IWestern New
New York, but Leonardos the only one
who became suddenly Jiich. He ope
rated boldly, and made! money as by
a charm, and this he spelt like a prince.
His livery was the mostjshowy in the
street, and his was a palace.
He had the impudence 1p offer Prince
t<Jfi College an endowrlent of 83,000,
whose interest was to btla prize for tho
most gentlemanly studjjut. This was
of course declined. The;B3,ooo he now
needs for his own use. ?he day of dis
play is past, his drean of wealth is
over, and he is now livii g on his wife’s
property.
Another half forgot on speculator
was Anthony Morse, lie came from
Vermont, and, after serving as a clerk
in a broker’s office, he Istablisbed the
firm of Morse & WolfeJ This was in
1859. When the war bn*ke out he saw
the effect of iufhu ion, at 1 commenced
a wild career of sp culation. His
schemes were so bold as to attract im
mediate attention, and the amazing
success which followed them seemed
to prove an irresistable *enius. For a
year his name was tho li tding star of
Wall street, and crowds iiuug upon his
sayings.
Orpliic Uttera ices.
Morse assumed the attitude of a
prophet, aud would say >~o Ids friends,
“boys, follow me, I’ll |nake a million
for each of you.” Asa matter of course
all followed him who iad money to
risk and nerve to risk itf Morse mar
ried the daughter of Jail Cady, a baok
president living in Schenectady, and
drew a large number l|om that place
into his echeme. He livgd in a grand
establishment at State*. and
owned a yacht in which |t one time ho
crossed the ocean and leturped, His
success led him into t. g|rand specula
tion in Ft. Wayne, wbosf stock he ran
up to 140, but a sudden collapse crush
ed hie bubbles, and bothlMorse and his
crowd suddenly found themselves poor.
The meanness to whicji Wall street
sharks will descend was! illustrated by
the history of this unprincipled fellow.
While at Chicago he borjjowed 8500 of
a young woman—an old? acquaintance
—who had it laid up aiainat a rainy
day. Of this she never got a copper.
I can mention a preacher who had
85,000 drawing 7 per cent., and who
was told by Morse that thrice that rate
could be made on Wall street with per
fect safety. The preacher called in his
mortgage and placed the amount in
Morse’s hands, which was the last he
saiv of it. Had that sum been con
tinued at 7 per cent., it would by this
time have doubled. Morse was ruined
in purse and health by the excitements
of Wall street life, and he died iu this
condition before he had passed forty.
Another Wreck.
Le Grand Lockwood, like Morse and
Jerome, was a Wall street magnate
during the inflation, and, like the
former, died bankrupt. He came
from Connecticut aud became a bro
ker’s clerk, and entered business in
time to take that leads to for
tune. In those days to make a million
seemed “as easy as lying.” To such
men as Jerome, or Morse, or Lockwood
a million was but a trifle. While the
first of this trio had his Fifth Avenue
palace and his four-in-hand equipage,
the latter built in Norwalk the liuest
country residence which up to tiiat
time had been seen in America. But,
as in other instances, the dream sud
denly terminated, and Lockwood awoke
one morning to tho fact that he was
“le grand” no longer. His splendid
picture gallery went to auction, with
the exception of Bierstadt’s Yosemite
Valley, which has been offered at pri
vate sale at 810,000, this being its cost.
Lockwood had been treasurer of the
Lake Shore Road, aud proved a de
faulter to the amount of 8600,000. The
company took the country seat and are
ready to sell it at one-third its cost.
Incidents Since the Panic.
The great panic of 1873 cleared out
great numbers of old brokers, and their
places have been supplied by the
crowds of young men who are pressing
into the money market. Since then it
has been difficult to organize any gen
eral movemeut for the advance of
stocks, the only exception beiug the
Union Pacific. The general tendency
has been toward depression, and heavy
sums have been sunk by purchasers oi‘
fancy stocks.
The present method of operation is
by inducing country people to try their
chances, the temptation being increas
ed by the convenience of the sum men
tioned. Send 8100 to tho adver
tising broker aud lie will buy
for you a “put” or a “call,” as
you may desire ; or, if you prefer, he
will invest it for you according to his
own judgment. All this sounds very
fair. I would, however, advise all who
make such remittances to Wall-street
men to take a good look at their money
as they are not likely to see it again.
There are multitudes of ) T ouug men in
the country who are influenced by
these advertisements. They want to
try Wall street, and that is the last of
it. lam well assured that thousands
of dollars are sent iu daily in this man
ner. Few animals are more easily
gulled than man, and I am continually
meeting those who have been duped by
Wall-street sharpers.
The Future.
The immediate future must be a pro
longed stagnation among speculators,
while what are called “investment
stbek” will be in continual demand.
Just now, however, it is difficult for
any man to tell what are investment
stocks, because dividends are often de
flated in order to keep up a stock,
while the money with which they are
paid is borrowed,for that purpose. The
most reputable stocks on the list are in
the hands of peculating directors, and
the stockholders are completely at
their mercy. Jay Gould now lias con
trol of Pacific Mail, Union Pacific,
Erie, and the Western Union Tel
egraph. Other leading men have their
special fancies, and whoever purchases
such stocks must remember that iu do--
ing so he places his funds under the
control of some other master than him
self. Gould will continue supreme in
Wall street until some more successful
rivtl shall expel him from his present
elevation. This has been the universal
experience, and Mr. Gould’s wealth
ami talent—great as each may be—
car. not render him exempt from the
vicissitudes of fortune.
Kinckerbocker.
BANK OF CALIFORNIA.
Mr. Ralston’s Assets $2,000,000 in Ex
cess of liis Liabilities—Subscriptions
to the Syndicate Aggregate $7,000,-
003—Transfers of Gold to San Fran
cisco.
New York, September 6.
Tie Herald has a long dispatch from
San Francisco dated the sth, in which
the lorrespondent says : “The assign
men by Mr. Ralston of his property to
Mr. Sharon, on the morning of his
death, will cover all his indebtedness
in every direction, and leave to his
famly about $2,000,000. The indebted
ness charged against Mr. Ralston
was lot only personal, but that which
has grown out of aid which the
banli has openly given in the way of
loan! to industries throughout the
Stati, and which are worth infinitely
tnort than the indebtedness to the
bank A meeting of the friends of
Ralaon is called on Wednesday even
ing, n the largest hall of the city, with
a view of defending him against the
charges of the Bulletin and Call. I am
told ;hat D. O. Mills wants to stop the
meetng, for, if if it proceeds, the Bul
letin threatens to expose him as the
autlnrity who furnished them state
menfe against Ralston’s administration
of tie bank affairs. All the other Di
recto's of the bank are willing that it
shoud take place.
“Tie subscriptions to the syndicate
organized for the control of the Bank
of California, aggregates nearly $7,000,-
000, nitli favorable prospects of its m
creass to $10,000,000. Jn addition to
the descriptions, all subscribers will
give t their business, and most of
themwill make deposits from $50,000
to SIO,OOO in gold coin at once. The
bank tas now $1,008,000 in the vaults.
Sharci will deposit $1,000,000; Keene,
$400,00, and a large number of brokers
and ojerators from $50,000 to $1,000,000
each. There are assurances that on the
day o the opening the vaults will con
tain font $3,000,000 to $5,000,000 iu gold.
Theseiuducemeuts offered to the syn
dicate would probably never have
movei capitalists who are rushing to
the a3istance of the Bank of Califor
nia, w>re it not for the fact that men
who leal in great wealth here are
afraid of any one bank ever getting
the ecptrol that was once in the man
ager *f the Bank of California. Fi
naneettnd commerce will be healthier
when divided between the Bank of
Califonia and the Bank of Nevada,
soon bbe opened. The Bank of Cali
fornia will resume business between
the 15h and 20th.”
Kintuess is not rare ; gratitude is.
If the latter were more common the
formejwould be so.
NOTES OF TRAVEL.
Gainesville—Gen. Longstreet’s Recep
tion—“ Tlie Greatest of These is
Charity’’—Prosperity of the Town-
Win. D. Martin—A Singular Charac
ter —A Bird’s Eye View of a Sum
mer Jaunt.
[Correspondence of the Constitutionalist.]
Athens, Ga., Sept., 9, 1875.
After transacting the business which
carried me to the towns along the West
ern & Atlantic Road and to the busy
little city of Rome, I turned my face
southward and after a pleasant ride
through the valley of the Etowah aud
down the State Road I reached At
lanta, the energetic and enterprising
“Gate City” of Georgia. I had long
desired to see for myself the grand
and beautiful scenery-of Northeastern
Georgia, so I resolved to visit the
places of interest along the “Air-Line”
and in its neighborhood. After a ride
of two hours and a half from Atlanta
I reached Gainesville my first stopping
place. I put up at the Richmond House
where I was pleased to meet several
friends from Augusta. After tea I
went into the parlor to talk with Mrs.
Both well and Mrs. McCord, of Augusta,
and was by them introduced to several
other ladies, among whom was Mrs.
General Longstreet, whom I found to
be quite a favorite with the ladies j
of the house, and deservedly so, i
for she is intelligent and amiable, pleas- ■
ing in her manners and interesting in j
her conversation. During my stay in j
Gainesville I also became acquainted
with Gen. Longstreet. He has pur
chased property iu the town and in
tends moving there with his family.
He is a fine looking man and his con
versation quite entertaining. On Sun
day night, with some other gentlemen,
I sat upon the piazza of the hotel
listening to the General’s account of
some of the important events of the
war, and we were so entertained that !
midnight came upon us before we were j
aware of tlie lateness of the hour. 11
found that the people of Gainesville j
were disposed to give Gen. Longstreet
a cordial welcome to their town, and
that while regretting his course since
the war, they believe that he has been
much maligned and that, if he would,
he could give such an explanation as
would cause his former frieuds and
admirers to look upon him in a differ
ent light. However this may be, one
thing is certain ; and that is, that dur
ing the long aud bitter struggle for
Southern independence Gen. Long
street was one of the bravest and most
faithful, and that he battled for the
cause when the most hopeful despaired
and when there was no chance for
success, unless by some great aud sur
prising miracle. Some of his best
friends think'it a pity that fie did not,
like his great commander, abstain en
tirely from all connection with polities,
aud thus preserve the love of all the
Southern people, in whose behalf he
fought so heroically, and iu defense of
whose cause he made so glorious a
record.
The people of Gainesville are very
hopeful of the future of their town.
By way of showing a reason for the
faith that is in them they point to th.e
great progress made since the comple
tion of the railroad. Mr. P. F. Lawshe,
the editor of the Southron, told me that
the value of town property had in
creased from 886,000 to 8880,000 ; that
the trade of the towu, which formerly
amounted to 830,000 annually, was now
estimated at 8600,000 ; that the assess
ment of the county had risen from
8750,000 to 82,200,000 ; that the receipts
of cotton had increased from 8 bags to
5,000. He also stated that during last
year 300,000 dozen eggs, 168,000 chick
ens and 68,000 pounds of butter had
been sold in Gainesville. Since the
building of the railroad the population
of the town has increased from 350 to
2,500. At Gainesville there is an ex
cellent academy, presided over by
Prof. G. C. Looney.
On Monday morning I bade adieu to
Gainesville and started for Toccoa
City, which -place I reached after a hot
and dusty ride on the accommodation
train, for the discomfort of which I
was amply repaid by the fine scenery.
In the afternoon I visited Toccoa Falls.
On Tuesday I rode out to Tallulah
Falls, where I spent nearly five hours.
1 know of no place where one could
spend a month more pleasantly than
at these Falls. The people of Middle
and Southern Georgia have read so
much about them this year that I will
not attempt a description. It is sufficient
to say that I was charmed with the
beauty of Toccoa and the grandeur and
majesty of Tallulah. Yesterday morn
ing I loft Toccoa City, where I had
spent two nights and part of one day
very pleasantly at the Davenport
House.
At Gainesville, I took the hack for
Athens. The hack iu this case, how
ever, was a buggy, which goes through
to Jefferson, making connection there
with another “hack” of the same sort,
Jefferson is rather a dilapidated little
village, but boasts au excellent school
called the Martin Institute, so named
after an eccentric old bachelor, Mr.
Wm. D. Martin, who lived in Jackson
county several years ago. This
old gentleman willed all his property to
citizens in Jackson county, although he
had many relatives in Virginia ; for he
declared that where he made his
money, there he meant to leave it. He
left $15,000 to the academy which bears
his name, and to the Methodist Church
he bequeathed $5,000. He also willed
SSOO apiece to every girl iu the town of-
Jefferson between the ages of sixteen
and twenty. The relatives iu Virginia
tried to set the will aside, aud employ
ed the Honorable Howell Cobb to con
duct their case. Ou the other side was
employed the Honorable Thomas It. It.
Cobb, who came off victor in the case,
and the old gentleman’s will was car
ried out to the letter. One of the ec
centricities of Mr, Martin was the writ
ing of his own epitaph, which in his
will he ordered, to be placed upon his
tomb. The epitaph is as follows :
Remember, friends, as y> u pass by.
That as you are, so once was I,
That as 1 am so you shall be;
Prepare for death aud follow me.
All of this information in regard to
Mr. Martin I received from Mr. Nich
ols, the gentleman who drove the hack
from Jefferson to Athens. My trip
across the country, though hot and fa
tiguing, was a pleasant oqe. The corn
and cotton looked well, and hands were
busy in the fields gatheiiug the fodder
and picking the cotton. At half-past
four in the afternoon I reached this
charming city, which I leave this morn
ing, homeward-bound. Before closing
this letter I wish to bear testimony to
the hospitality of the people wherever
I have been. This hospit dity met me
in the very beginmng of my journey.
When I fetched Marietta I left my
baggage at the Kenesaw House, in
tending to stop there during my stay
in that city. But during the morning
I met Mrs*. Root, the daughter of Mr.
John S, Wright, of our city. This lady
New Series—Vol. 28, No. 33
was a friend of mine from early child
hood, and gave me a cordial invitation
to make her house my home during my
stay in Marietta. Soon after I met her
husband at his store, and though I was a
stranger to him he also invited me to
his house as the friend of his wife.
I accepted the invitation, and never did
I enjoy a visit more. At almost every
stopping place I received similar invi
tations, and sometimes from strangers
| with whom I had had but a few
minutes conversation; and though I
could not always accept these invita
tions, it could not but be gratifyiug to
me to meet such attentions away from
home. I relate these circumstances
merely to show the hospitality of the
people of Georgia. The only thing
that gave me pain during my travels
was the neglected appearance of the
Confederate cemetery at Marietta, and
this, I think, is due more to the want of
well organized effort than to the lack of
love for our hero dead.
Wherever I have been in the country
and in the towns I have seen evidences
of prosperity, thrift and enterprise,
and have fouud among the people in
telligence, refinement and hospitality.
My trifx through Northern Georgia
has convinced me of the truth of what
I already believed, that within the lim
its of our own great State may be found
all that man could wish in this world,
and that no citizew of Georgia need go
beyond her borders to seek wealth,
health or happiness. J. T. Derry.
I see in my published letter from
Marietta that through a typographical
error I was made to state the popula
tion of Marietta to be nearly ten thou
sand. It should have read three thou
sand. J. T. D.
A “ Johnny Reb.” in Pennsylvania,
[New Orleans Picayune.]
A few days ago a group of old Con
federates were sitting on one of the
galleries of a favorite lake shore wa
tering place spinning yarns of personal
adventure during the “Revolution.”
After several had been spun out it
came the turn of a quiet aud demure
gentleman, who had served with one of
Louisiana’s best regiments in Lee’s
army, and with that army had invaded
Pennsylvania. “You see,” said he “we
crossed the Potomac, aud thought we
would have a nice time helpiug our
selves to buttermilk, chickens, aud
such things that had played out com
pletely in Virginia; but the very first
day after crossing, the Adjutant of our
regiment read to us Gen. Lee’s order
agaiust pirouting, and threatening se
vere puuishment to any officer or pri
vate caught depredating upon the peo
ple. We thought it was rather hard cn
the American citizens, but we said old
Massa Robert knows best, and, if he
says ‘pay as you go,’ why, we will do
it -in Confederate money.
“It was near Greeneastie when I and
two comrades of my mess straggled
and brought up at a neat farm house,
where there was every evidence of
plenty in the eating line. We were met
at the door by a very matronly lady,
as neat and tidy as possible. ‘Ah!’ we
said to ourselves, ‘we are in luck; now
for a square meal.’ We doffed our old
gray kepis and entered the house and
piled our rifles iu a corner. ‘Madam,’
I said, ‘we are, as you know, Confeder
ate soldiers, and consequently hungry;
cau you get us up a good old-fashioued
meal —something that will remind us
of home, as it were, ‘Home, Sweet
Home,’ where you probably wish we
all were just at this time?’ The old
lady declared there was not a scrap in.
the house; all had been sent away upon
hearing that the ‘Rebels were com
ing to rob, burn and steal.’
We remonstrated; we said, why,
Madam, we came here to fight men,
not to molest women or steal their
bread. That’s what old Robert says,-
and we stick to it. We are going to
pay for everything we get. Even this
announcement that we had returned to
specie payment would not move her—
there was ‘nothing in the house, abso
lutely nothing.’ My comrade, Wilson,
a father of a family down in Rapides,
had devoted himself as soon as we had
entered the house, to playing with a
little baby in the cradle. He now arose
and said ii*the politest manner possi
ble, ‘Have you auy salt ?’ This
evidently regarded as a queer ques
tion, and she replied, ‘Oh, yes ! I nave
salt; but 'what under the sun do you
want with salt, having nothing to
eat?’’ ‘Oh, well,’ says Wilson* ‘bring the
salt,’ and a bag was at once produced
Wilson very demurely carried the bag
to the cradle, turned down the infantile
bed-clothing and proceeded to rub
right then and there, that baby, all over
its back and front, and all. Meanwhile
the rnatrou, standing with eyes wide
open, watched the operation closely.
Finally she exclaimed: ‘Goodness sakes,
what are you doing with the baby ?’
‘Oh,’ says Wilson, quietly, ‘you have
nothing in the house to eat, we are
hungry; we came from a long ways
just to see you; we must eat, and when
this baby is salted sufficiently we are
going to eat him. It is needless to add
that in a remarkably short space of
time that baby was ransomed by as
line a dinner being served as ever
graced the boards of a Pennsylvania
farm house.”
FROM NEW*VORK.
Cable News—Death of Judge Wood
ruff.
New York, September 10.—After the
15th inst., cable rates on the Anglo-
Americau Liue will be a shilling a word
from points east of New York to Eng
land and France. •
The Direct United States Cable Com
pany open business on the 15th. Tariff
rates have not been completed, but it
bus been decided that the name of the
place from which messages originate
will be transmitted free.
Louis B. Woodruff, of the United
States Court, is dead.
Sporting News,
Lexington, Ky., September 10.—First
race, two miles for three year olds, was
won by McGibben’s b. f., by Imp Leam
ington; time, 3:40>.^.
Second race, one mile, colt and filly
stakes for two year olds, was one by
Vagrant, Cleminie 21, The Nipper 3d;
time. I:4s*^.
Third race, three-quarters of a mile,
was won by Egypt, Gyptis 2d, Redman
3J; time,
— . ■ ''
“If idleness be the root of all evil,
then matrimony is good for something,
for it sets many a poor woman to
work.
Spurgeon is described as a “burly,
almost gross, intensely magnetic, apos
tle of the people,” He seems clear
headed, tender-hearted and pure
souled,
Josh Billings remarks: “The only
way to git thru this world and escape
ceusure aud abuse* is to take sum back
road. You kant travel the main turn
pike and do it.”
To do good is easy. To abstain from
doing harm is difficult,
To Advertisers and Subscribers.
* |
On and after this date (April 21. 1875,) all
editions of the Constitutionalist will be sent
free of postage.
Advertisements must be paid for when han
ded in, unless otherwise stipulated.
Announcing or suggesting Candidates for
office, 20 cents per line each insertion.
Money may be remitted at our risk by Express
or Postal Order.
Correspondence invited from all sources,
and valuable special news paid for if used.
Rejected Communications will not be re
turned, and no notice taken of anonymous
letters, or articles written on both sides.
LETTER. FROM COKESBURY.
New Cotton Mill at Erwin’s Shoals—
Shoe Factory and Tannery at Hod
ges—Lucubrations on the Late
Troubles in Georgia—Blue Ridge
Railroad—Hot Weather, &c M &c.
[Regular Corresp. Constitutionalist.]
Cokesbury, S. C., September 8.
According to previous announcement
a large crowd of Grangers, with their
wives and children, assembled at
Erwin’s mills, on the Saluda river, on
September Ist, for the purpose of dis
cussing a plan for the erection of a cot
ton mill at that place. After numerous
expressions of opinion and the delivery
of several speeches the subscription
books were opened. Thirty-five thous
and dollars were quickly subscribed and
the project assured. The friends of the
enterprise do not doubt their ability to
increase the amount to double that
sum. The shoals at this place are well
adapted for the purpose. There is
plenty of water power, sufficient for
any amount of machinery. The only
drawback is the distance (some six
miles) from the railroad.
The Grangers are also getting up
stock subscriptions for the purpose of
erecting a large shoe factory at Hodges’
Depot, on theGreeneville and Columbia
Railroad. About $2,500 has already
been subscribed. Aid has also been
promised by some largo manufacturers
in Lynn, Mass., who propose to sub
scribe machinery as well as money.
This manufactory, with a large tan
yard attached, will be on the co-opera
tive plan, and it is hoped it will prove
successful and the beginning of several
more upon this plan.
It is a hopeful sign of more prosperi
ty and better times to see the South
engaging in these enterprises, besides
furnishing the necessary capital from
her exhausted stores. We have in vain
made the cry that the South needed
capital, and appealed to the North to
come among us and develop the rich
mines of wealth at the South.
They complacently hear our cry, and
say tiiescheme looks well, “Itis true
we have the money and are anxious to
make an investment, and would gladly
come South but you have such an odi
ous government we are afraid.” What
an insult to the South! Who made our
government odious ? who created it ?
Who besides the North, and they are
ashamed of their own acts. Many are
even now disappointed at the result of
the late insurrection in Georgia. It has
been a sore surprise that her people
have respected law and order under
the most trying provocations.
The New York Tribune has said,
“However quiet the South may be, in
the language of the hypochondriacal
patient in the play, the Ku Klux again
lift their frightful heads ; Rubel
lion is revived, and treason is again
to be made odious.” Their aim is to keep
us in a ferment and fire up the party
hate that the Mortons and Butlers
may continue in power. It is iu vain
that every first-class journal should
daily veutilate in its cot urn us a strong
and earnest appeal for peace and re
conciliation, and it is again notorious
that our be3t raeu are going great
lengths to attain this end. A few gen
erous patriots, have responded on the
part of the North, but the majority
hate us as much as ever, and they seek
to eheok the movement by the basest
aud most false assertions that the
spirit of rebellion is again raised at the
South.
How such men would have been
elated if the late outburst in Georgia
had resulted in a conflict of races. The
result has, however, demonstrated the
fact that the South are a law-abiding
people. It teaches us further that the
negroes will not wait for provocation
or cause upon the part of the whites to
engage in the most hellish schemes,
even to the in discriminate murder of
innocent women and children. The
negro is only valuable to the people of
the North as a voter, and they do not
stop short of any means to retain his
vote. Fortunately, Providenoe, iu the
wise order of nature, is likely to thwart
these objects. The negro, sooner or
later, will draw the color liue; and when
this happens, and he is left to himself,
his doom is sealed. Asa slave he was
of immense beuefit to North and South,
but as a voter and office-holder he is
simply an instrument of harm in the
hands or the corrupt. This error the
North begins to feel and recoguize, but
they are too bigoted to admit the
truth.
The South under all these drawbacks
is working bravely to regain her losses,
and she ouly wants time to regain her
prestige and wealth. The late war did
ono good thing, it transformed the
white laborer into an intelligent and
frugal citizen such as no other ccnntry
can boast. We have no roving bands
of tramps here. The negro does not
produce half the ootton which was pro
duced before the war, his time is too
much absorbed in religion and politics.
Let us then encourage our native
white labor until the prosperity of
former days is restored, and our
country is one in polities and homo
geneous in color.
Blue Ridge Railroad.
The people of this State have long
felt the want of a railroad across the
mountains, and since Mr. Memminger
has withdrawn from the management
of the Spartanburg and Asheville Rail
road, the hope of rebuilding the Blue
Ridge has revived. Although the for
mer efforts to complete it have failed,
first because of the war, and after
wards by the gross mismanagement of
the Radicals in South Carolina, the
people have not ceased to cherish a
desire for its flual completion. The
whole line is graded, the tunnels near
ly completed, and the solid masonry in
a great degree finisned. The move
ment was inaugurated on the 14th of
July, at a public meeting in Knoxville,
Tenn., at which a resolution was adopt
ed to subscribe $250,000 worth, of stock,
nearly enough to complete the road to
Walhalla. Our people along the line
are now called upon to assist in this
great work, and if they respond in a
like liberal spirit the completion of the
road will be assured.
Hot Weather.
We are suffering very much from the
very hot and dry weather. August was
very cool and pleasant, but this month
has a July aspect. The cotton is suf
fering very much, especially the late
planting. If it continues to open like
the past few days it will be gathered
before the first of November. We ex
pect to hear the cry again raised of an
immense crop, but I doubt very much
if it will reach four millions of bales.*
At the present prices it will take it all
to pay for supplies and guauo.
Timon.
Love is a matter of wind ; first a sigh
and then a, yawn.
Laws aro the offspring of old men.
Young men never believe their legUL
rnacy.