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JAS. G. BAILIE. )
FBANCIS COGIN, . Proprietors
GEO. T. JACKSON,)
Address all Letters to
H. C. STEVENSON, Manager.
According to Madrid advices, the larger
part of Don Carlos’ force is cooped up
like a rat in a corner.
We fail to see the “great improvement”
predicted of journals that have secured mo
nopolies.
One of our wittiest editors speaks of a
contemporary as having a “blonde head.”
Ought not that “e” to be omitted when
speaking of a man?
The Augusta Constitutionalist is one
of the neatest printed and ablest edited pa
pers that comes to this office. It is a credit
to journalism.— Marietta Journal.
Only two members of the Servian Min
istry voted for war against Turkey. The
number of Servians who desire to make
Turkey a corpse may increase about
Thanksgiving day.
This is indeed a bad year for Bishops in
Europe. King Alfonso’s Government is
about to make a crusade in that direction,
and the Bishop of Seo de Urgel, especially,
may expect no mercy. It is a bad thing to
mix religion and politics.
Some of the high and mighty officials of
the Columbia (S. C.) Bing Government are
qu irreling with each other about Hardy
Solomon’s Bank. “Valuable consideration”
is freely acknowledged. We all know what
that means when thieves have imprisoned
the honest man.
“Poor Henry” Clews is not yet out of
his difficulties. Many of his creditors are
unwilling to let him go scot-free. They
evidently, and with some reason, believe
that this astute banker has a nest egg
somewhere and is not nearly so poor as he
pretends to bo.
Hope and Bandall The saying,
“poetic minds are never well balanced,” is
not “worthy of acceptance among all men,”
for wo do not know of twu more level
headed writers than the poet editors of the
Seuth, Capt. James Barron Hope of the
Norf Ik Landmark and Col. Bandall, of
the Augusta Cmstitutionalist Charlotte
Observer.
As the; e may be a very lively municipal
contest in December every man shornd
register who is entitle 1 to do so. We have
not had a good, old time contest for a
number of years. We are afraid if any
thing like active competition should take
place between rival candidates, there would
be a scramble for negro votes which might
“make the judicious grieve.”
According to a response of the Secretary
of War to an application for aid from the
Texas Adjutant General, the Lone Star
State cannot receive Government assist
ance, as Alabama did when a section of
that State was inundated. It is said that a
large portion of the Alabama fund was
used for el ctioneering purposes by Badi
cal ring-masters.
Ames is getting extensively snubbed all
around. Taking a cue from Attorney Gen
era! Pierrepont, the Chief Justice of Mis
sissippi, a Bepublicau, grants an injunc
tion restraining Butler’s son-in-law from
c eating a standing army under the name
of militia. The beauty of this proceeding
is that the ground of objection taken by
His Hi nor is that there shall be no muster
when profound peace prevails.
We had the pleasure of meeting in our
town, yesterday. Mr. J. A. Bryan, travel
ing agent for the Augusta Constitution
alist. Knowing Mr. B. well, we can re
commend him as a clever gentleman; and
when it comes to the paper he represents,
why, there is not a better in the South. It’s
walking right ahead of all papers published
in its section, and sends nearly three times
as many dailies to this office as any other
journal published in these diggings. We
see the mail opened every day, and know
this to be a fact. So we say to our friends,
if you want your money’s worth, take the
Constitutionalist. There’s no discount
in it.— Oglethorpe t cho.
One P. B. Williams is writing letters
from Aiken to disprove certain accusations
raised against him in tho Sparnick case.
Making a dead set at Mr. Alfred Aldrich,
he says: “There was no caucus of Spar
nick’s, or any other man’s friends, held at
my house, nor did any member of tho
grand jury, white or colored, ever cross my
threshold :u that or any other night, to
my knowledge. Judge Cooke did stop at
my house, and so did Solicitor Wiggin, as
any others can do who behave themselves
.Hke gentlemen and pay their bills. The
So Be:tor was here in attendance on the
court, and as to Judge Cooke’s business in
Aiken, I never asked what it was, never
was told what it was, don’t know what it
was, and don’t care. But as I said b fore
the story about ‘ caucus,’ the ‘grand jury,’
and all that, is a positive and malicious
falsehood.”
We give him the benefit of a doubt. And
now, will he tell us how Sparnick, who is
alleged to have confessed his malfeasance,
escaped a trial; or rather what sort of a
grand jury is that which finds no bill
against a man who has already found a
true bill against himself, if common report
can be credited?
Mr. S. T. Wallis has addressed a letter
to the editor of the New York Tribune in the
course of which he says: “I beg you will do
me the favor to let me say that I am not
interested in nor do I desire the formation
of any new political party in Maryland,
under any name, and that no such ‘con
ference’ as you mention has been held here
or anywhere else, to my knowledge, with
the result you indicate or any other. I
came to this city ten days ago, an invalid,
for medical treatment exclusively, and
without political plans or purposes of any
sort. During my stay I have been earnestly
and unexpectedly pressed, on behalf of
many of the best and most influential of our
to accept their nomination for the
attorney generalship of the State in op
position to the regular democratic nominee.
Although I am no politician my adhesion to
the Democratic party is too well known in
Maryland for any one to approach me with
a proposition looking to its overthrow. Its
purification and the re-establishment of
decency and integrity In the influences
which control it, and in the political man
agement and legislation of the State, are
the only considerations which have been
addressed to me to induce me to permit the
use of my name.
“If the Tribune understood the politics
and politicians of Maryland as thoroughly
as those of New York, it would regard the
movement o n which it comments as ‘oppos
ing the Democrats’ in no other sense than
that in which Mr. P’Conor, Gov. Tilden.
and their associates have been ‘opposing’
them here, with the applause of the whole
country.” The Iribune Lather grimly re
torts that “Mr. Wallis must not imagine
that a knowledge of Maryland politics will
Ale with him, or cannot be attained in New
York without him. Something more than
the assertion of a rival candidate is re
quired to convincethe public that Mr. John
Lee Carroll and Mr. Beverdy Johnson
are the Tweed and Sweeny of a Maryland
ring, which Mr. Wallis and bis associates
gre about to overthrow."
£ljc Constitutionalist
Established 1799.
FOREIGN DISPATCHES.
Belligerent Servians—Death of a
French Composer—Papal News.—
Spain and the Bishops—-Rampant
Insurgents—The Carlists Cooped Up.
London, September 24.—A Vienna
dispatch to the Daily News reports that
two members of the Servian Ministry
voted against the address to Prince
Milan and were in favor of war.
The Times has a special that 2,500
Carlists are blocked by 10,000 Alfonists
at Viella and will probably be forced
over the border at Port du Roi. Tho
Carlists at Gavarnie are interned.
Paris, September 24. —Madame Jeane
Louise Parrenc, musician and compo
ser, is dead, aged 72 years.
Rome, September 21.—The Pope has
appointed Monsigneur Diaz as Bishop
of St. Christopher, Cuba.
Madrid, September 24.—Ministerial
papers announce that the Government
will make no concessions prejudicial to
the independence of magistrates deal
ing with Bishops, especially the Bishop
of Seo de Urgel.
Belgrade, September 24.—Sclavonic
sources state that Priest Zerkos’ force,
7,000 strong, is divided into four corps
and about to attempt the capture of
Sjenitza and Priszren, with a view of
fortifying and holding them.
A New Nuncio—Wholesale Banish
ment of Cossacks—Damage to the
English Hop Crop.
Madrid, September 24.—Rapella suc
ceeds Simeoni as Papal Nuncio.
London, September 24.—The Times
has a special from Berlin containing
the following: One thousand live hun
dred Cossacks have been banished to a
penal settlement of Turkestan for hav
ing resisted the new military laws.
Many more are likely to go, as those
laws meet much opposition in the Ural
colonies.
Recent rains have been very damag
ing to the English hop crop.
Minor Telegrams.
Denver, Col., September 24. —Judge
N. A. Harrison, a Virginian, is dead.
Galveston, September 24.—Dr. Peel’s
body has been recovered;
New York, September 24.—The text
of the propositions of peace made by
the Spanish Government to Cuban in
surgents, and which were peremptorily
refused, was received at the Cuban
agency here.
Jefferson City, Mo., September 24.
The trial of Adler & Cos., for refilling
uncancelled whiskey barrels, is pro
gressing.
Memphis, September 24. —This city
never was more healthy than now.—
There was nothing like an epidemic of
any kind here during the year.
Louisville, September 24. — Tennes
see assesses §IOO,OOO tax on the Louis
ville and Great Southern Railroad.
St. Louis, September 24. — The Presi
dent departs Westward oh Monday.
Alexandria, Va., September 24.—Ed
gar Snowden, senior editor and pro
prietor of the Alexandria Gazette, died
at his home to-night, in the 65th year
of his age.
Sporting News.
Louisville, September 24. —The first
race to-day, for the Gentlemen’s Cup,
was won by Mr. Trigg Moss, who
rode Port Leonard; Irving Keller,
rider of Token, second, and Mr. James
Green, rider of Australian, third. This
race was a dash of a mile and an
eighth, and was made in 2:07%. The
second race was a mile heat for the
Tobacco Stake, for three year olds
that had not won previous to Au
gust last. It had six starters, and
was won by King Alfonso ; Gyptis
2d, Misdeal 3 1. Time, 1:44%, 145%. The
third race, IK miles, had 5 starters,
and was won by Kilburn; Marmion 2d,
Redman 3d. Time 2:12. The 4th race,
a dash of a mile for 2 year olds, was
won by Vagrant; Alborac 2d and Gard
ner’s chesuut filly by Lexington 3d.
Time, 1:46. To-morrow will close the
present meeting.
FROM WASHINGTON.
Steamship Changes Ottman’s Bail
Reduced.
Washington, September 24. -The fol
lowing changes have been made in the
time of departure New York of
steamers with foreign mails: The
steamer Etna, instead of the Atlas,
sails on the 25th instant for Kingston
and New Granada. The Atlas will
leave on the 29th instant with mails for
Hayti only.
Ottmau’s bail has been reduced to
§25,000.
FROM GALVESTON.
Persons Saved —No Government Aid
for Texas.
Galveston, September 24 — Messrs.
Herndon and family reported lost at
Valasco are safe. Dr. Alexander and
family at Lynchburg are sale.
The Adjutant General telegraphed
the Secretary of War for aid, as in the
Alabama case. The Secretary replies
tbat Texas does not come within the
scope of country provided for by that
law.
THE NORTH CAROLINA CONVEN
TION.
Tlie Cold Shoulder Given to Holden.
Raleigh, September 24.—The State
Convention to-day, by a vote of 53 to
56, refused to remove the disabilities
of ex-Gov. Holden, impeached in 1871,
upon the ground that the oath of
members prescribed by the Legislature
restricted them from Legislative ac
tion. An ordinance will be passed
giving the Legislature general pardon
ing powers.
AMES SNUBBED AGAIN-
A Republican Chief Justice Disarms
Him.
Jackson, September 24.—Chief Jus
tice Peyton, Republican, has granted
an injunction restraining the auditor
from paying money to support Ames’
militia. He held mustering the militia
in time of profound peace was creating
a standing army of State troops in vio
lation of the Constitution.
The Odd Fellows.
Indianapolis, September 24. The
session of the Grand Lodge of I. O. O.
F. to-day was largely taken up with
routine work. The Grand Lodge has
accepted an invitation to hold their
next session in Philadelphia.
Railroad Rates.
Chicago, September 24. —At a meet
ing, the general freight agents of East
ern roads resolved to adhere to rates
on a basis of 30 cents per hundred
pounds for fourth class freights from
Chicago to New York and equivalent
rates to other points.
AUGUSTA. GA„ SATURDAY, SEPTEMBER 25. 1875.
FROM NEW FORK.
“Poor Henry” and His Creditors—ln
surance and Chin-Music —Condem-
nation of Aerial Ladders —A Fiery
Untamed Cuban Sentenced.
New York, September 24.—The
creditors of Henry Clews & Cos. oppose
the release of that firm from debts.
The creditors will have another con
ference next week.
The Insurance Convention has gone
into executive session. The proceed
ings heretofore consisted of speeches
The Coroner’s jury in the aerial lad
der deaths gave a verdict declaring the
ladder was made of inferior wood, and
the construction faulty, and censures
the Board of Fire Commissioners for
omitting scientific and practical tests.
Further use of the ladders is con
demned.
John Gonzales, a Cuban, has been
sentenced to imprisonment for life for
arson in the first degree.
DEVOURED BY A CUTTLE-FISH.
Terrible Discovery on the Bottom of
the Sea—A Victim of the Schiller
Disaster Found in the Clutches of
a Sub-Marine Monster—A Brother
in Search of a Sister—Heart-Rend
ing Scene Under the Ocean.
[From the New York Mercury.]
A Plymouth (Eng.) correspondent
writes: A most remarkable occurrence
connected with the wreck of the steam
ship Schiller has just corno to light. It
is remarkable not only for the manner
in which it became known, but also be
cause it leads to the strange discovery
concerning the existence of carniver
ous monsters inhabiting the bottom of
the sea. Naturalists must read this ac
count upon its publication in the Mer
cury with interest, inasmuch as it will
explain why so few of the bodies of
human beings drowned in foundere 1
ships ever come to the surface. While
portions of wrecked vessels are often
found floating even in mid ocean, not one
in a thousand of persons lost is ever dis
covered ; yet natural causes, such as
the development of gasses by internal
decomposition, should bring the corpses
to the surface in a floating condition.
If the world is to believe what two of
the clivers who went down to tho bot
tom last week to examine the wreck of
the Schiller on tiie Reterrier Ledges,
tell of what they saw, and which ex
perience a third young man, who was
with them, confirmed with his life, the
explanation is now made that there are
monsters of the deep who live on hu
man flesh. The story is a brief one.
Mr. Franz Hauser, whoso body was
buried a few days ago at Penzance,
near Land’s End, was a native of Lux
embourg. His mother and two sisters
were on the Schiller, intending a visit
to their home, while he remain
ed in lowa. Upon the news
of the wreck of the vessel he became
so deeply affected that he fell into a
raging fever. When he became conva
lescent he made inquiries whether the
bodies of his relations had been found.
He obtained no satisfactory informa
tion in the States, and at last resolved
to make a personal effort on the spot.
He came across the ocean and at once
went to Penzance, where at last he
gained the certainty that neither of the
three corpses had been recovered.
Thereupon he employed two experi
enced divers, purchased a complete
diving armor, and submitted to a
course of training under the two men
he had employed. As soon as able to
move about under the water and ac
customed to the heavy suit he deter
mined to descend into the sea where
the Schiller had gone down and search
for his mother and sisters. Several de
scents were made without success—
the remains of the vessel were seen, yet
no body could be observed. But one
day as the three men were si
lently moving about among the sharp
pointed crags and reefs, and being a
considerable distance away from the
wreck itself, Franz Hauser was startled
by the sight of what appeared as the
head of a female form. It seemed to
hang from the top of a reef some ten
feet high. He directed the attention of
the others by pointing towards it*
Slowly the three stepped forward in the
direction of the reef. Nearing the spot
a pitiful and heart-reuding scene pre
sented itself. What was supposed to
be a female head was such in reality,
yet little of the body to which it be
longed could be seen. The corpse was
firmly held in the clutches of a gigantic
cuttlefish, which, with its enormous
arms and extended suckers, clung to
it and to the sides of the rock like
a wild beast feasting on its prey.
The sight, say the two sur
viving divers, was shocking, yet awe
inspiring. They describe the cuttle
fish as having a circular central body
that could not be less than four feet in
diameter, of a greenish black hue, with
alternating bright and dark spots and
slimy surface. It was rounded like a
dome, and it seemed as if a portion of
the human body had been absorbed
into it by the tremendous power of
suction this monster is believed to pos
sess. Its arms—the divers counted
eight—wero apparently of immense
strength, being over twelve feet long,
and judged to be not less than a foot
in diameter where they joined the body.
Some of these arms clung to the unfor
tunate victim, others held fast to the
protuberances of the rock, and several
were springing through the water like
the trunk of an elephant, but twice its
size.
Such was the view the three divers
had as they approached this reef, and
Franz Hauser made a sudden spring
forward towards it; but he was held
back. His associates knew tbat by
going any nearer they would expose
themselves to attack from the monster,
for which they were unprepared. They
gave the signal to the boat and all
three were immediately hoisted up.—
Having the covering removed from his
head, Franz Hauser declared that he
had recognized in the female face one
of his sisters, and ho was determined
to descend again to rescue her body
from being devoured by the sub
marine monster. His wish was not
gratified, however, be being too nervous
and his strength too much exhausted,
and it was agreed to make an attempt
next day or the day after. But, on the
morning, young Hauser was delirious,
and he lingered on in a paroxysmal
condition for some days, till death
closed his eyes. The two survivors of
his expedition under the sea have made
sworn statements of the truth of these
facts, and it is believed that some pre
sentation has been sent to the British
authorities of the Admiralty for a com
plete and thorough scientific search of
the entire vicinity of the Reterrier
Ledges to ascertain whether these tre
mendous creatures do feed onhuman
victims of shipwreck.
A four-act comedy, written by Win.
H. Rideing, and called “A Latter-Day
Gentleman,” will be produced at the
Boston Globe Theatre in a short time.
HON. WM. ])! KELLEY.
*
--V
HIS NOTES ON’TME SITUATION.
The Financial Question Reviewed and
Summed Up—A Masterly Statement
of the Disease and Remedy—Hard
Nuts' lor the Moneyj Rings to Crack.
Philadelphia! Sept. 17, 1875.
Col. 11. A. Alston, Edi\yr o f the Herald,
Atlanta, Ga.: |
My Dear Colonel *-Your note of the
Ist found me on the e*/e of departure
for the West, since when I have either
been travelling or under a merciless
pressure of affairs, an J though anxious
to comply with your courteous request
to communicate will) the readers of
the Herald, have, ui|til now, been un
able to take time to c!*> so. Permit mo
to remark that you ?are mistaken in
saying that “everybody admits that
our present financial system is a fail
ure.” Hugh McCulloch, late Secretary
of our Treasury, now head of the great
London banking house of Hugh Mc-
Culloch & Cos., and other British credit
mongers, the Rothschilds, whose Amer
ican agent, Mr.. Belmont, was for
years the chairman of the Democratic
national committee, and other conti
nental dealers in credit,, to whom, with
the comparatively few possessors of
large realized fortunesjin our own coun
try, the so-called free banking law gives
a monopoly of chartered banking and
the right to control th| currency of the
country and inflate i|r contract it at
their will, regard it as Ja perfect finan
cial system, and hav|) employed the
leading journals of ;.he commercial
cities to persuado the people to accept
the correctness of theif judgment. The
classes referred to ow| our bonds, and
whosoever owns our fonds, and they
only can organize bjuks and obtain
from the Government frank notes, be
fore which the peopleV* money, the cur
rent money of the reai*n, the constitu
tional legal tender with which debts
can be paid, must be retired and de
stroyed in the proportion of 80 to 100
cents.
History Records Many Strange
things, but nothing uore marvellous
than that an intelligent, enterprising
and free people, as vje claim to be,
should have thus delegated one of the
highest prerogatives <sf government,
which involves the power of expanding
and contracting their currency to
foreign capitalists and dealers in na
tional credit, and to [Jay them many
millions in gold annually for exercising
the privilege. If you v.|d qualify your
expression by saying shat everybody
engaged in productive?industry or en
terprise admits that ou| present finan
cial system is a failure, fyou will speak
with nearly absolute precision.
What you say of |.be division of
of profits on cotton between
the producer and is,
under this system, truejif every branch
of industry, and must' continue to be
true as long as the Government shall
arbitrarily deny the people an adequate
volume of legal tender money and force
them to borrow private’ credit at inor
dinate rates, from parties who may de
sire to purchase their at
depreciated prices, with* which to carry
on business. j
If you will turn to thejjreport of Hugh
McCulloch, Secretary of the Treasury
lor 1865, you will find tkat he boasted
tbatour people were almbst entirely free
from debt. Had ho seqn fit to do so,
he could, in proof of thisfassertion, have
poiuted to the fact thatfthe farms, fac
tories and warehouses i)f the country
had never in our histojy been so free
from mortgage or judgment indebted
ness than then. Hej need but to
havo referred to the 1 report ot the
Conq troller of the Cu.rency to have
learned that so largelf was internal
com. :arce conducted liLon cash prin
ciples, and so free weifa our business
men from commercial* indebtedness,
that the banks could no* find employ
ment for half their furlds i;. the pur
chase or discount of coi|mercial paper,
and consequently had |iore than half
their funds invested isi Government
securities, amounting more than
one-fourth of the entire debt,
The rates of interest wyre then lower
than ever before, in a Reason of com
mercial activity, and as ihe late of in
terest had declined, wa -es had risen,
and labor was actively employed, with
constantly increasing remuneration. —
When R. G. Dunn & iUo.’s business
agency had reported 1 fie failures for
the year, be might haVe poiuted tri
umphantly to the fact, jthat they had
numbered but 530, withja total indebt
edness of §16,626,000. 'S’hat a strange
contrast to this was presented in our
experience of 1673. Meanwhile, that
portion of our debt whicii, in 1865, was
payable, principal and hjterest, in legal
tender paper money, Lui been con
verted into gold-bearirlg bonds, and
Congress, with the approval of the
President, bad declared jj.hat the honor
of the country require! the principal
also to be paid in gold, find most of it
had gone into the hanjils of foreign
holders. The credit syiJem had been
revived, and not only *id the banks
find plenty of business J paper to dis
count, but the rate of interest had gone
up to 12, 18 and 24 per mot. by the sum
mer of 1873. I then the paper of
both the Pennsylvania? and Reading
Railroad Companies’ hnivked upon the
street at one per cent. month, and
commercial paper had \\> be gilt-edged
to find parties willing t<A discount it at
one and a half per emt. ?As the rate of
interest increased the profits of manu
facturing diminished. *fhe borrower
was the slave of the lender, and could
not quarrel with the rails ho demand- ‘
ed, and sought to economize by re
ducing wages, thus originating a strife
between capital and labdr. This was
the condition of things! on the Ist of
September, 1873. On ti .13 18th of that I
month the failure of Jaf Cook occur
red, and the ensis wear,(still enduring
was upon us. To arrest ,)his disastrous
course of events, Congress has decreed
that the contraction otj legal tender
money must proceed uiltil 1879. when
nothing but gold shall beflegal tender in
payment of debts withiu the limits of
our country. In other Words, it has
given notice to capita!qsea that they
will act unwisely by mai.jng purchases
now, as by the contract! jn ot the cur
rent money of the naGou to a gold
standard, prices must bereduced quite
sixty or, perhaps, ninety per cent, Do
not thiDk this is an ext reme estimate
of the fall that is to‘ Take place in
prices, if the resumption act is to be
enforced; for, under a jirnilar law in
England, the act of 18191 providing for
a return to oash payments in 1823, all
property, other than Givernmeut se
curities, ceased to havj any market
value. They who acquired mortgaged
real estate under foreck'isure, obtained
title to it without mono}* and without
price. Hence it is that capitalists havo
vied with the Govermneijt in contract
ing the currency, aud ha|e exceeded it
in the measure of contraction they have
wrought. |
Witness the enormouj deposits of
greenbacks in the Treasury of the
i
United States, for which tho owners
hold certificates of deposits, and the
fact that Savings Banks and National
Banks, in some parts of the country,
refuse to receive deposits upon which
they are to pay any interest, aud this in
the face of the fact from one to two
millions of skilled laborers are plead
ing for employment at low rates of
wages, whereby they may earn food
and clothing for themselves and their
suffering families.
In order to present but a faintly
tinted foreshadowing of the disasters
that are to overtake us between this
and the final execution of the law re
ferred to, let me invito your attention
to the report of Dunn & Co.’s business
agency for the first six months of 1875.
It shows that ‘the failures number 3,-
377, with a total iudebteduess of §74,-
940,868. Assuming that the current
six months shall not be more disas
trous, you have in contrast with the
results of 1865, when the failures were
but 530, 6,754, and instead of a total in
debtedness as then of but §17,625,000,
a total indebtedness of §149,881,736.
Here let me pause and ask what has
wrought the ruinous change? I think
an examination of our legislation
on tho subject of our currency
and national debt, will furnish
a conclusive answer to the ques
tion. In 1865 we had over 200,-
000,000 of legal tender money and con
vertible bonds. Every form of national
indebtedness that might be held by na
tional banks as reserve was, in fact, le
gal tender money. Whoever held a
7:30, or a compound interest note, of
which we had some hundred mil
lions, had that which every bank
and individual in the country was
glad to accept in payment of debt. So,
too, of the 3 per cent, certificates of de
posit, which were in fact found payable
on call, aud of all other forms of short
loans payable, principal and interest, in
currency; and the first of August, 1865,
there were in circulation more than
§31,000,000 of greenbacks. The me
dium of exchange being thus abundant,
money circulated with great rapidity.
A thousand dollar note conld be made
to pay, and doubtless often did pay,
five or ten thousand of indebtedness
in a day, or purchase aud pay for
these amounts of commodities. A be
gan the day by buying a thousand dol
lars worth of B, and paying him in
greenbacks, 7:30 compound interest
notes, or certificates of deposit, the in
terest on each of which was easily cal
culated. B having borrowed a thou
sand dollars of C, hastens to pay him.
G, wanting something which D had for
sale, bought it from him. D, having
ordered a bill of goods which came to
hand that day, paid for them—and so
the quick circulation of legal tender
money made business active and saved
the producer from the hungry moth of
interest. As the vision the glories
of a great London banker had not then
dawned upon Hugh McCulloch, Secre
tary of the Treasury, he seemed to see
ail this and rejoice at it, and it was not
for nearly two years that he fulminated
his threat of speedy resumption in his
Fort Wayne letter. I hat was an evil
hour and an evil act for the country.
From that time forward the credit
mongers of Europe have woven their
golden chains around us, and as tho
legal tender, the current money of the
realm, has been contracted, energy, en
terprise and industry have been driven
into the toils of the venders of credit.
But you asked for a remedy. To re
store the dead is impossible; to restore
to credit and competency the countless
men of energy aud enterprise, who have
been reduced to bankruptcy aud want
by the shrinkage in the value of then
property and the high rates of interest
imposed upon them by the ruthless ac
tion of the Government, is no less im
possible: nor can we hope to bring back
to their old habits of self-respect, tem
perance, industry and thrift the mil
lions of industrious laborers who have
been forced to live in idleness, and to
accept, yes to tramp the country and
beg for the bitter bread of charity. But
these are things of the past. Can we
create a brighter outlook for the fu
ture ? That is the purport of your
question. I believe we can. The first
thing to be done will be
To Repeal the Law Arbitrarily
fixing a day for the resumption of specie
payments. This will lift the terrible
shadow under which the whole debtor
class in which are thousands of our
best , ; people trembling in despair. In
so far it will restore confidence. The
next step will be to tempt the owners
of the hoarded millions of that which,
if it were circulating as a medium of
exchange, would bo money, but which
is now dead aud unproductive capital,
to invest it, and thus restore confidence
and revive industry. This I would do
by requiring the Government to practi
cally return to reliance upon the Amer
ican people for its loans, the acceptance
of its own money at par for those
loans, and the payment of its interest
in its legal tender money, to its own
people, and this I would accomplish
by requiring it to issue bonds of §25
and multiples thereof at a rate of one
cent a day for §l, or §3.65 per annum,
which should, like the 3 per cent, cer
tificates above referred to, be always
convertible into greenbacks by the
holder on presentation at the Treasury
of the United States or any sub-treas
urv. This would call forth the vast
amount of legal tender money that is
tlow hoarded for the purpose of pur
chasing property when the final crash
shall come. But, says some creature
of the credit-mongers, through the
columns of the metropolitan journals,
“This is a scheme to make the Goveru
! ment pay interest to the rich upon
funds they cannot employ.” It would
be this and nothing else if the plan
stopped here. It is, however, well
known to every intelligent journalist in
I the country that it does not stop here,
but that I and my co-laborers for this
reform have at all times proposed that
the Secretary of the Treasury should
be required to apply the funds
thus received to the redemption or
purchase and cancellation of our
gold bearing bonds. It would thus, to
the extent to which the 3.65 should be
taken, enable the government to change
the character of a largp amount of in
terest from gold to paper, to pay it to
our own people instead of to foreign
ers, and to save the difference between
3.65 and 6 per cent. It would break up
or greatly diminish the speculation in
gold. For by giving anew and profita
ble use to the greenback, it would in
crease its market price and thus bring
gold and legal tender money to the
same value, or nearly so. Let me illus
trate the simplicity and effectiveness
of the operation. In July and August
tho Secretary of the Treasury was com
pelled to buy as many greenbacks as
he could get for five millions of gold
in each month, and during this month
ho is buying as many as he can get for
four millions of gold. He thus prac
tically goes into the gold room week
ly to traffic with the treasure of the
country and fatten the vampires that
suck the life-blood of the indus
trial classes. Why does he do this ?
Not because he has hoards of gold that
will enable him to resumo specie pay
ments on the first of January, 1879,
and desires to profit by huckstering the
surplus, but because the internal reve
nue taxes, which are payable iu cur
rency, do not produce income enough
to meet the current expenses of the
government; aud the result is, that lie
has to buy currency month by month
for that purpose. Under the system
above indicated, this disreputable traf
fic would disappear, for the law should
authorize the Secretary to take from
currency derived from the issue of 3.55
bonds such amounts as might be re
quired to enable him to meet the ap
propriations made by Congress and to
apply on the first of each month so
much gold as might be in the Trea
sury and not required by its exigen
cies to the calling, redemption, and
cancellation of 6 per cent, gold-bear
iug bonds. He ’ would thus, iu
stead of swelling the business and
profits of the gold room, as he now
does, be reducing our interest account
and relieving us from the impoverish
ing effects of the practical absenteeism
established by the transfer of our gold
bearing bonds to Europe. This much
accomplished, confidence would be en
tirely restored, and the tramps who
now infest the country, gathering back
to forge, furnace, factory and mine,
would give their skill and vigor in ex
change for money and in supplying
their wants—which, in consequence of
long enforced idleness and their pres
ent destitution, are many—would pat
ronize tho industry of each other and
make a market for our products. Then
the grower of cotton might hope to
realize a profit on his capital and
labor, and the credit-mongers who
now absorb that which should bo
his reward, might be driven to rais
ing cotton or to engage iu some other
productive pursuit. Then, too, the as
piring poor of Great Britain and Eu
rope would hear that prosperity had
returned to our country and would
flow in upon us, as they were doing
when money was easy and business on
a cash basis, at the rate of from 400,-
000 to 450,000 a year. Then we might
confidently hope to see the South grat
ify its new-born desire for industrial
development and commercial prosperi
ty, and give to all comers cordial wel
come to fields over which would wave
golden crops of grain, amid cotton
fields, which, to strangers, would look
like wintry snows at midsummer.
Hoping you will pardon the extreme
length of this, and with hearty good
wishes for you and the people, whose
interests you have so much at heart,
I remain yours, very truly,
Wm. D. Kelley.
CRIMES AND CASUALTIES.
Conflagration—Murderer Condemned.
Troy, September 24.—Smith, Craig &
Go’s lumber yard was burned to-day.
Loss, §30,000.
Marshall, Mich., September 24.—The
Herndon House, with four persons, was
burned.
Danville, Ky., September 24. —H. B.
Nichols was convicted of the murder of
W. Peach. The punishment is death. A
motion for anew trial was made.
Burning of Mills—Disappearance of a
Prominent Man—Fatal Railway Ac
cident.
Patterson, N. J., September 24.
Geo. Jackson’s woolen mill was burned
by the breaking of a kerosene lamp.
Loss, §BO,OOO.
Camden, N. J., September 24.—Hon.
Albert W. Markley, well known from
bis connection with thd Camden and
Amboy Railroad, and other enterprises,
disappeared since 8 o’clock yesterday.
Washington, September 24.—A train
on the Baltimore and Ohio branch,
which runs arouud this city, ran over a
wagon, killing the driver. The driver
had abundant warning, but persisted
in crossing the track as the train ap
proached.
—■ m
Tlie Agricultural Convention.
Cincinnati, September 24.—The Na
tional Agricultural Congress met. The
resolutions recommend a settled uni
form tax of ten cents per pound on
tobacco, and free import of material
used iu its. manufacture. Speeches
showed about ecpial on the currency
question. W. C. Flagg, of Illinois, is
President for tho ensuing year. It
meets at Philadelphia next time.
Truth Will Out.
[Chicago Tribune.l
A story with several morals comes
from Windsor, Conn. Forty years ago
there was a bank at Windsor. Ooe
morning the Cashier opened the locked
vaults and found everything in perfect
order, including an envelope that held,
the evening before, §50,000. But the
money was gone. Detectives were sum
moned. They struck what they thought
to be a trail, aud followed it straight to
the house o? Thomas Emerson, tho
President of the Bank. The evidence
against him was wholly circumstantial,
but it seemed pretty clear. Within a
few short weeks,Emerson exchanged his
home at Windsor for a cell at Weathers
field—one of those terrible 4x9 cells
in which Connecticut used to suffocate
as well as starve her felons. The ex-
President lived several years within
those gloomy stone walls, and then
came out to find himself an outcast,
hated by the plundered community
which had once honored him. He lived
to be an old man; but his crime was
never forgotten, aud he went down to
the grave with “thief” stamped upon
him. The verdict was on record.
Every one knew of it. His feeblo pro
tests were vain to shake the settled
conviction of his sin. Years
after the grass grew over his body, a
chance stroke of a workman’s ham
mer proved his Innocence, and showed
that he had been one of the many vic
tims of circumstantial evidence. The
Cashier of tho benk, the man who dis
covered the theft, died about the time
the ex-convict did. The odor of sanc
tity hung about him. His memory was
cherished at Windsor as that of a truly
good man. In an evil moment for his
memory the present occupant of his
old house decided to have it repaired.
While the carpenters were at work,
on Monday of last week, a mis
directed blow with a hammer
sank the head of that tool iu
to a secret cavity in a wall. A mo
ment’s investigation showed that the
hiding-place held the money stolen
from the Windsor Bank forty years
ago. Unless circumstantial evidence is
again playing tricks with the truth, the
Cashier stole the money, hid it, allowed
a perfectly innocent man to drag out
his life with the terrible curse of a con
viction for felony resting on him, and
wr\s afraid to ever use the money for
the sake of which he bartered his soul.
The Springfield Republican says that
there is quite a sensation iu Windsor
on account of this revelation. The fact
is not surprising.
“The Mighty Dollar,” Mr. Florence’s
new play, is not a success.
New Series —Vol. 28, No. 44.
A FAILURE 100 YEARS AGO.
The Reckless Speculations Induced in
England by the Example of Indian
Nabobs—Business Career of Alexan
der Fordyce.
Berkeley Springs, West Va., )
August, 1875. J
To the Editor of the N. Y. Tribune :
In the “Chronicles and Characters of
tee Stock Exchange” (London), by John
Francis, I find the following history of
occurrences of 100 years ago. It reads
as it' written of our own time :
“Tho crisis of 1772 has been entirely
overlooked by those who have be
stowed their thoughts upon such sub
jects. It had its origin in a variety of
circumstances, but the exciting cause
was the failure of the Bank of Doug
lass, Heron & Cos., established in 1769.
It was the period when the success of
adventures in our Indian empire had
contributed to the wealth of England.
Immense sums were accumulated in a
few months. Large purchases of laud
were made at high prices. All
the early and late symptoms of specu
lation were apparent. The vast fortunes
brought home were ostentatiously
displayed. A contempt for the slow
gains of trade, a feverish excitement,
and an ungovernable impatience to be
rich, marked the period. The nabobs
were not disposed to hide their wealth
under a bushel. They bought magnifi
cent mansions, and mistook ostentation
for taste. They raised the prices of all
articles of consumption; they were
bowed to before their faces and dread
ed behind their backs. Dark deeds
were told of them; and the shrewd
peasantry shuddered as the massive
carriage, rolled by, which held the man
whose wealth had been obtained at the
expense of his humanity. The ephe
meral literature of the day is filled
with the popular opinion of the charac
ter; and the nabob is commonly repre
sented as a man with a bad liver and a
black heart. Scott, with his exquisite
conception of the ludicrous, makes one
of his characters decline a nabob as
“one who comes frae foreign parts, with
mair siller than his pouches can hold;
as yellow as oranges, and maun hae
a’thing his ain gate.”
“For thirty years the public was
filled with impressions of their wealth
and crimes; and so late as twenty years
ago, Lord Clive was described to the
writer as keeping memorials of his
guilt in a box beneath his bed, and as
having destroyed himself because his
past enormities were too great for his
conscience to bear. The drama, the
story, and the poem were colored with
their eccentricities; while newspapers
occasionally recorded facts which
marked that, in some at least, a fine
generosity was mixed with their gross
ness. The effect, however, of these
things was to make money plentiful;
raise a spirit of emulation and a thirst
for gold. In addition to this, the bank
ing-house of Douglass, Heron & Cos.,
circulated its paper with a freedom
which had an effect upon the popula
tion of Scotland remembered to the
present day. Discounts for a time
were plentiful. Bills presented by
farmers, and accepted by plowmen,
were readily cashed. As is usual in
these days, the dashing character
maintained by the bank attracted those
who should have known better; and
many of those who boasted of
their foresight, paid for their pre
sumption. In 1771 the result of the
reckless trading was apparent, and
Douglass, Heron & Cos. failed. The
shock was felt throughout the Empire.
The Royal Bank of Scotland tottered
to its base; the banking-houses of Eng
land shook with a well-grounded fear;
and the great corporation of the bank
of England was beset on all sides for
assistance, but from none more vehe
mently than from Mr. Fordyce, of the
house of Neal, Fordyce & Cos., a firm
which, from its position, the importance
assumed by its partners, and the known
success of some of its speculations, was
generally supposed to be beyond sus
picion. The career of the man who
thus craved assistance was somewhat
out of the ordinary way of his craft,
and may, perhaps, prove interesting, as
the sketch of an adventurer in whose
power it lay to make or mar the for
tunes intrusted to him; and also as a
specimen of the mode in which the
Stock Exchange is sometimes resorted
to by bankers with the balances of their
customers.
“ Bred a hosier at Aberdeen, Alex
ander Fordyce found the North too
confiued for any extensive operations,
and, repairing to London as the only
place worthy his geuius, obtained em
ployment as a clerk in a city banking
house. Here he displayed great facility
for figures, with great attention to bus
iness, and rose to the post of juuior
partner in the firm of Roffey, Neal &
James. Scarcely had he ho been thus
established ere he began to speculate
in the Alley, and generally with mark
ed good fortune. The devil tempts
young sinners with success, and Mr.
Fordyce, thinking his luck would be
perpetual, ventured for sums which in
volved his own character and his part
ners’ fortune. The game was with him;
the game was constantly on the rise;
and, fortunate as daring, he was en
abled to purchase a large estate, to
support a grand appearance, to sur
pass nabobs in extravagance and
parvenues in folly. He marked
the marble with his name upon
a church which he ostentatiously
built. His ambition vied with his
extravagance, and his extravagance
kept pace with his ambition. The
Aberdeen hosier spent thousands in
attempting to become a Senator, and
openly avowed his hope of dying a
peer. He married a woman of title;
made a fine settlement on her Lady
ship; purchased estates in Scotland at
a fancy value ; built a hospital; and
founded charities in the plaoe of which
he hoped to become the representative.
But a change came over his fortunes.
Some political events first shook him.
A sensible blow was given to his ca
reer by the affair of the Falkland Is
land, and he had recourse to his part
ner’s private funds to supply his de
ficiencies. Like many who are tempted
to appropriate the money of others, he
trusted to replace it by a lucky stroke
of good fortune, and redoubled his
speculations on tho Stock Exchange.
Reports reached his partners, who
grew alarmed. They had witness
ed and partaken of his good for
tune, and they had rejoiced in the
far ken which had obtained the
services of so clever a person; but when
they saw that the chances were going
against him, they remonstrated with all
the energy of men whose fortunes hafig
on the success of their
A cool and insolent contempt of their
opinion, coqpled with the remark that
he quite to leave them to
rqanage the concern to which they were
utterly incompetent, startled them, and
when, with a cunning which provided
for everything an enormous amount of
bank notes which Fordyce had bor
rowed for the purpose was shown them,
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
offiee, 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.
their faith in his genius returned with
the possession of the magic paper; and
it is doubtful whether the plausibility
of his manner or the rustle of the
notes decided them. But ill-fortune
continued to pursue Fordyce. His
combinations were as flue, his plans as
skillful as ever. His mind was as per
ceptive as when he first began; but
unexpected facts upset his theories,
and the price of the funds would not
yield to his combinations. Every
one said he deserved to win,
but ho continued to lose. Spec
ulation succeeded speculation; and
it is remarkable that, with all his great
and continued losses, he retained to
the last hour a cool and calm self-pos
session. After availing himself of
every possible resource, his partners
were surprised by his absenting him
self from the banking-house. This,
with other causes, occasioned an im
mediate stoppage, and a bankruptcy
which spread far and wide. But Mr.
Fordyce was not absent long. He re
turned at the risk of his life ; the pub
lic feeling being so violent that it was
uecessary to guard him from the popu
lace while he detailed a tissue of un
surpassed fraud and folly. He man
fully took the blame upon himself, and
exonerated his partners from all save
an undeserved confidence.”
Wo have had the same wild specula
tion, the same contempt lor the slow
gains of honest and legitimate trade,
the same ostentatious display of “shod
dyites,” and of course the same bank
ing houses of Douglass, Heron & Cos.,
and Neaf, Fordyce & Cos., because they
are the result of such a state of
things. J. D. D.
GEORGIA GENERAL NEWS.
Macon Telegraph: Mr. John Brvant, a
well-known citizen of Houston county,
died at his residence at 3 o’clock yesterday
morning, aged about sixty-threo years.
Christopher Burns lias received tho nom
ination for the Legislature in Washington
county, to fill the place ot W. A. Quinn?de
ceased.
Washington Gazette: The Augusta Pros
bytery, to which the Presbyterian Church
in this place belongs, will meet in tho
church hereon Thursday, October 7th, aiul
continue through the week. The opening
services will take place at half-past seven
o clock on the evening of the 7th.
Anonymous: The growth of Gainesville,
Ga., in population and business since the
completion of the Richmond and Atlanta
Air-Line Railroad, on which it is located,
has been quite remarkable. The road has
been completed only two years, and in that
time tho value of town property has in
creased from $86,000 to $880,000; the trade
of the town, which formerly amounted to
only $30,000 annually, is now estimated at
$600,000; toe assessment of the county in
which Gainesville is located has risen from
$750,000 to $2,200,000: the receipts of cotton
have increased from 8 bales to over 5,000;
and the population of the town, which was
only 350 when the railroad was commeneed,
now numbers 2,500 and is daily increasing.
Perry Journal: Old Guinea Joe, a native
of Atrica, some seventy years old, and
formerly a servant of Dr. R. O. Bryan,
killed a rattlesnake last week with 18 rat
tles, and which was eight feet long. Old
Guinea carefully cut off its head, skinned,
dressed and fried it, and had a regular
African feast. He says it was better than
chicken. Joe lias a great reputation as fire
eater and conjurer. Wo have seen him eat
a handful of the brightest, hottest hickory
coals that could be burned out of barrel
hoops; and while you could hoar a terrible
frying and hissing in his mouth, and clouds
°t smoke issuing from it, we
thorough examination and found not the
least burn. There could be no burn in it.
A writer in the London Trues is trying to
deprive Savannah of the honor of starting
the first steamship across the Atlantic. He
admits that the Savannah crossed first, but
he claims that her paddles were remova
ble, that she was thirty-one days in cross
ing, that she only used her engines eigh
teen days, that she was a full-rigged ship—
not a steamship, but merely a sailing ves
sel, with a temporary arrangement for
steaming on board. He claims that the
Royal William, buiit at Three Rivers, and
fitted at the St. Mary’s foundry, Montreal,
was the real pioneer of the present large
Atlantic steam fleet. She arrived at Graves
end, September 12,1833, making the trip in
about the same time as that taken by the
first Cunard boats to Boston.
Macon Telegraph: t’apt. E. C. Murphy, tho
Atlanta detective, returned from Sanders
ville last night, whither he has been to turn
over to the authorities the negro insurrec
tionist, Gen. Morris, for whom the Gover
nor had offered a reward of $530. Morris
was captured by detective Murphy in At
lanta a day or two ago. He is now in jail
at Sandersville, but will be sent to Johnson
county for trial. * * Two young men
named Henry Gholston and John Amos re
turning to their homes from Prattsburg in
Talbot county, last Saturday, had a diffi
culty by the way, which resulted in Amos
being stabbed to death. He was cut in six
teen places. There were two cuts in his
neck which severed tho jugular vein and
one which went to the heart. He expired
immediately. No one witnessed the bloody
affair. Gholston surrendered himself to
the authorities and was lodged in the But
ler jail. He will have a preliminary trial
to-day.
A Washington correspondent of the Sa
vannah News writes: “An individual
named Rockafellow, who formerly bum
med around Atlanta organizing negro
clubs, has at last met his deserts in this
town. Time, they say, rights all things,
but time could never Rockafellow, or
* Rocky.’ as we’il call him. Rooky has been
seeking for employment. He would tako
anything, a red hot stove not excepted.—
But no man could make him tako water.
He is from Georgia. He had his photo
graph taken for a pamphlet, showing how
muchly he was persecuted, but tho high
price of collodion foreed him to rush to an
engraver, whom ho bilkod for a few hun
dred cheap prints of his virtuous phiz. He
was to pay the aforesaid engraver at ‘thirty
days after date,’ but funds being scarce,
and the contractors paying only $1.25 a day
for good hands on tho canal, liocky found
it cheaper to erase the ‘Atlanta, Georgia ’
portion of his address on the aforesaid pic
tures, and substitute therefor ‘ Athens,
Georgia.’ People of Athens, remember that
you nave a representative with us, not
clothed in fine linen and purple, but re
ceived at the throne and receiving at the
rate of 500 per day Morton’s Urbanaspeoeh.
with which he threatens to overwhelm
you.”
The Atlanta Herald has the following
special dispatches about the Dr. Warrall
who is now in Georgia, making speeches in
favor of direct trade:
[Special to the Herald.]
New Orleans. September 23, 1875 Dr.
Thus. D. Worrall Is an English adventurer,
who made politics his trade and only means
of subsistence while in Louisiana. He crop
ped up here during the Warmoth adminis
tration as a member of the Lower House.
I think he served two sue essivo terms. He
was identified with everything disreputable
and profitable during that period of whole
sale theft wherein he could put his hands.
He had no standing in the community, not
even with Republicans, and bis sun set
with the retirement of Warmoth. He was
on the staff of the latter, and had as many
official titles as the Prince of Wales, all be
stowed on him by Warmoth. He was al
ways recognized here as a useful member
of the House, when a man had a bill to
pass, and was willing to sacrifice money mi
it. About two years ago he returned bore
after a trip to England. He had different
kinds of samples of goods consigned to
him by English firms, for the purpose of
showing them about to our merchants.—
His stock of sample® was so large that he
opened a small store and sold them out. I
don’t tnink the Englishmen associated with
him khow his record. J. W.
[Special to the Herald.]
New Orleans, Sept. 23, 1875,
Don't know much of Worrall. What is
known of him here is anything but credi
table. He was a carpet-bagger from
Canada: from what part is not known. He
was a rabid, negro-loving politician of the
dirtiest stripe. Warmouth unloaded him,
and Kellogg never would have anything to
do with mm. I have sent you all I can
learn of Worrall at present.
W. D. Robehison,
Editor Timers