Below is the OCR text representation for this newspapers page.

TERMS OF SUBSCRIPTION. Daily—one year $lO oo “ six months 500 “ three months 250 Tei-Weekly—one year 500 “ six months 250 Weekly—one year 2 00 " six months 100 Sirifele copies. 5 cts. To news dealers', 2 I A ets. Subscriptions must in all cases be paid in advance. The paper will be discontinued at the expiration of the time paid for. 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